Current Affairs 24th February 2022, Daily GK Update

Daily GK & Current affairs is very important for any Government and other Competitive Exams. All the important updates based on current affairs 2022 are included in this Daily Current Affairs 24 February 2022 article.

Current Affairs 24th February 2022, Daily GK Update

Daily Current Affairs 2022: Daily GK update is the most important section for any competitive examination. Current affairs are generally asked from the last 5-6 months, so here, Ambitious Baba regularly updates the Daily GK Update & daily Current affairs 2022.

If you are preparing for Government Job Exams, then it is very important for you to read the Daily Current Affairs 2022, Daily GK Update 2022. All the important updates based on current affairs 2022 are included in this Daily Current Affairs 2022 article.

All the serious candidates are advised to bookmark this page and read the GK Update on a daily basis. It will help you mug up the important current affairs 2022 / Daily GK Update for LIC, IBPS, SBI PO, SSC, Railways, SBI Clerk 2022 State, and NRA CET Exam of 2022.

National News

Centre extended PM CARES for Children scheme till 28th Feb 2022

  • The PM Cares for Children Scheme has been extended by the Ministry of Women and Child Development of the Government of India till February 28, 2022.
  • Previously, the scheme was applicable till December 31, 2021. A letter has been written in this respect to all Principal Secretaries/ Secretaries, Women and Child Development, Social Justice & Empowerment Departments of all States and UTs, with a copy to all District Magistrates/District Collectors.
  • To be eligible for the scheme, the child must be under the age of 18 at the time of their parents’ death, to be considered eligible for payments under this plan. Those who are eligible can now be registered in the PM CARES for Children Scheme until February 28, 2022, via the website.
  • The PM CARES for Children Scheme on May 29, 2021 was announced by the Hon’ble Prime Minister of India Narendra Modi for the children who have lost the parents or legal guardians, adoptive parents, or surviving parents as a result of the COVID-19 pandemic onset on March 11, 2020.
  • The scheme intends to assist these children by providing them the long-term comprehensive care and protection, through a convergent strategy, gap financing for education and health, a monthly stipend begins at the age of 18, and prepare them for self-sufficiency with financial assistance of lump-sum payment of Rs. 10 lakhs once they reach the age of 23.

Assam govt launched “Project Arohan” to hone student’s skills

Assam govt launched “Project Arohan” to hone student’s skills

  • The government of Assam is set to launch a 4-year mentorship programme “Project Arohan”, to mentor the students of Assam and to hone their skills. 
  • Himanta Biswa Sarma, Chief Minister of Assam, met with Anita Rajan, Chief Executive officer of Tata STRIVE, the skill development initiative of Tata Trusts, to seek cooperation for Project Arohan.

About Assam:

  • Capital: Dispur
  • Chief Minister: Himanta Biswa Sarma
  • Governor: Jagadish Mukhi

Security Printing and Minting Corporation of India Delhi headquarters declared a prohibited place

  • Home Ministry has declared Delhi headquarters of Security Printing and Minting Corporation of India Ltd. (SPMCIL) as a ‘prohibited place’ under Section 2 of the Official Secrets Act, 1923.
  • This prevents the entry of unauthorized persons into it. It is the only currency and bank notes manufacturer of India, that printed new series of notes of denomination ₹2,000 and ₹500 in 2016.
  • SPMCIL is a government printing and minting agency, which was incorporated in 2006.

JICA approved Rs 1,000 crores river clean-up project in Pune

JICA approved Rs 1,000 crores river clean-up project in Pune

  • Japan International Cooperation Agency (JICA) approved the tender for cleaning up rivers Mula, Mutha, and Mula-Mutha (confluence of both rivers) of Pune Municipal Corporation area.
  • The project will cost around Rs 1,000 crores for the pollution abatement of rivers. The Mula and Mutha are the most polluted city Pune, which later meets Krishna River in Western Ghats and finally empties into the Bay of Bengal.
  • Aim: To improve the water quality by augmenting sewage collection systems, sewage treatment facilities and improving sanitation in Pune Municipal Corporation area.

About Japan International Cooperation Agency (JICA):

  • Founded– 1974
  • Headquarters-Tokyo, Japan
  • President- Shinichi Kitaoka

Minister of State for Culture released signature tune of ‘Vande Bharatam’ composed by Ricky Kej and Bickram Ghosh

  • Minister of State for Culture & External Affairs Meenakashi Lekhi has released signature tune for ‘Vande Bharatam’.
  • The tune is composed by Grammy Award winner Ricky Kej and Oscar contender Bickram Ghosh. It was produced for Vande Bharatam, Nritya Utsav of Ministry of Culture presented at Rajpath, New Delhi for Republic Day event 2022.
  • It was followed by the fascinating live performance by composers of Vande Bharatam song Ricky Kej and Bikram Ghosh.

Giriraj Singh launched Pradhan Mantri Awaas Yojana-Gramin (PMAYG) Dashboard

  • Union Minister for Rural Development and Panchayati RajGiriraj Singh has launched Pradhan Mantri Awaas Yojana – Gramin (PMAYG) Dashboard for stringent monitoring of the implementation of the scheme.
  • It will be used by the Stakeholders of PMAYG for monitoring and managerial purpose. It will provide complete transparency in the implementation of the scheme and should reach from the Sarpanchs of villages to the Members of Parliament of constituencies.
  • Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) was rolled out in April 2016, with the objective of providing “Housing to All” by 2024. The scheme seeks to complete 95 crore PMAY-G houses with all basic amenities. As of now, a total of 1.73 crores PMAY-G houses have been completed out of allocated cumulative target of 2.62 crore houses.

International News

India will set up its first IIT outside the country in UAE

India will set up its first IIT outside the country in UAE

  • The Indian Institute of Technology will establish its first branch outside India in the United Arab Emirates (UAE) as part of the India-UAE trade deal signed.
  • The Comprehensive Economic Partnership Agreement (CEPA) signed between the UAE and India will usher in a new phase of joint strategic cooperation in all sectors. The two nations will also set up an India-UAE cultural council to facilitate and promote cultural projects, cross-cultural exchanges and exhibitions.
  • The two countries and realising the need to establish world-class institutions that encourage and support innovation and technological progress, the leaders agreed to establish an Indian Institute of Technology in the United Arab Emirates.
  • The agreement was signed after a virtual summit held with an agenda to boost trade and investments between both countries and usher in a new era of economic progress.

About UAE:

  • Capital: Abu Dhabi
  • Currency: United Arab Emirates dirham
  • President: Khalifa bin Zayed Al Nahyan

Adani Group tied up with Ballard Power Systems for commercialisation of Hydrogen Fuel Cells in India

  • Adani Group, an Indian multinational conglomerate, has signed a non-binding MoU with Canada’s Nasdaq-listed Ballard Power Systems, a global leader in fuel cell technology, to evaluate a joint investment case for the commercialisation of hydrogen fuel cells in mobility and industrial applications in India. 
  • Adani Group partners with Ballard to create a shared fuel cell ecosystem in India. Under this MoU, Adani Group and Ballard will examine the options to cooperate, including potential collaboration for fuel cell manufacturing in India.
  • The efforts taken under this MoU will be coordinated by Adani New Industries Ltd (ANIL), the newly formed subsidiary of Adani Enterprises. ANIL is focused on the generation of green hydrogen, green electricity generation, manufacture of electrolysers and wind turbines.

About Adani Group:

  • Founded: 1988
  • Headquarters: Ahmedabad, Gujarat
  • Chairman: Gautam Adani
  • Managing Director: Rajesh Adani

Banking and Financial

HDFC Bank collaborated with ICEPL to finance Asia’s largest Bio-CNG plant ‘Gobar-Dhan’

  • HDFC Bank has partnered with Indore Clean Energy Private Limited (ICEPL) to fund the conversion process of 550 tonnes/day of Municipal Solid Waste (MSW) into Compressed Biogas at the Gobar-Dhan plant, the largest Bio-CNG (Compressed Natural Gas) plant in Asia located in Indore, Madhya Pradesh.
  • This is the largest waste-to-energy project funded by HDFC Bank under its ESG (Environmental, Social, and Governance) commitments to mitigate the adverse effects of climate change and make the bank carbon neutral by 2031-2032.
  • The plant is expected to treat 50% of municipal waste generated in Indore City and convert to 100% green products (biogas and manure).
  • ICEPL is promoted by the Green Growth Equity Fund (GGEF), which is the largest climate impact fund in India with investors like the National Investment and Infrastructure Fund (NIIF) & Government of the UK.

About HDFC Bank:

  • Headquarters: Mumbai
  • Founded: August 1994
  • CEO: Sashidhar Jagdishan
  • Chairman: Atanu Chakraborty
  • Tagline: We understand your world

SBI Life Insurance to reclassify BNP Paribas Cardif as non-promoter

  • SBI Life Insurance Company (SBI Life) said its promoter BNP Paribas Cardif, holding 2 percent share capital, has requested to be reclassified as a public shareholder.
  • The company has received a request from BNP Paribas Cardiff, one of the promoters of the company, holding 0.20 percent of the paid-up share capital of the company, for reclassifying its shareholding in the company from the promoter and promoter group category to public category.
  • As per SEBI guidelines, a promoter or promoter group seeking reclassification should not hold more than 10 percent of the voting rights in the company.

About SBI Life Insurance:

  • Founded: March 2001
  • Headquarters: Mumbai
  • CEO: Mahesh Kumar Sharma

LIC acquired additional stake of 0.085% in Capri Global Capital

  • Life Insurance Corporation of India (LIC) has acquired 0.085% additional stakes of Capri Global Capital Ltd (CGCL) through market purchase and increased its stake in CGCL from 4.959% to 5.044%.
  • CGCL is a Non-Banking Financial Company (NBFC) listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). 
  • LIC has acquired 150000 shares (0.085%) carrying voting rights. Following the acquisition, LIC holds an equity share capital of 35,11,96,210.

About Life Insurance Corporation of India (LIC):

  • Founded: 1956
  • Headquarters: Mumbai, Maharashtra
  • Chairperson: M R Kumar

India’s fuel demand expected to grow at 5.5% in FY23

  • According to the estimates released by the Petroleum Planning and Analysis Cell, under the Ministry of Petroleum & Natural gas, India’s fuel demand is likely to grow5 percent in FY23.
  • According to government estimates India’s fuel consumption (especially oil demand) in FY23 could rise to 214.5 million tons (MT) from the revised estimates of 203.3 MT for FY22.
  • In 2019-20, India had consumed 214.1 MT of petroleum products such as petrol, diesel and LPG.
  • FY22 (April-December 2021): Demand for petroleum products grew by 4.9 percent in FY22 (April-December 2021). Fuel consumption was 148.3 MT during the same period.

India Ratings projected GDP growth at 8.6% for FY22

India Ratings projected GDP growth at 8.6% for FY22

  • India Ratings has revised downwards its GDP growth forecast for 2021-22 to 8.6 percent from the consensus 9.2 per cent projected earlier.
  • According to an India rating analysis, National Statistical Organisation (NSO) is likely to peg the FY22 real gross domestic product growth at Rs 147.2 lakh crore. This translates into a GDP growth rate of 8.6 per cent, down from the 9.2% forecast in the first advance estimate released on January 7, 2022.
  • The major reason for the likely downward revision is the upward revision of FY21 GDP to Rs 135.6 lakh crore in the first revised estimate of national income for FY21, which was released on January 31, 2022.

Note: India GDP projected for FY22 (2021-2022)

  • S&P Global Ratings-5%
  • Moody- FY22 at 9.3% and FY23 at 7.9%
  • Care Rating– 8.8 to 9%
  • Economic Advisory Council to PM: 0-7.5% in FY23, 5% in FY22
  • National Statistical Office (NSO):2% in the financial year 2021-22, 6.6% in 2020-21
  • Economic Survey 2021-22: 8-8.5% for FY23

Appointment and Resignation

Sanjeev Sanyal inducted as full-time member of Economic Advisory Council to PM

  • Finance Ministry’s Principal Economic Advisor, Sanjeev Sanyal has been inducted as a full-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), the panel’s chairman Bibek Debroy announced.
  • The appointment is for a tenure of two years. He had advised the finance ministry to devise economic policies during the pandemic. The EAC-PM is an independent body constituted by the Union government to advise the prime minister on economic matters.
  • The veteran economist has been working with the financial markets since the 1990s and his induction to the EAC-PM is likely to help the top economic advisory body. Sanyal was appointed as Finance Ministry’s principal economic adviser in February 2017 and was earlier the managing director at Deutsche Bank.


Indian Air Force will participate in ‘Exercise Cobra Warrior 22’ in UK

Indian Air Force will participate in 'Exercise Cobra Warrior 22' in UK

  • Indian Air Force will participate in multi-nation air exercise titled ‘Exercise Cobra Warrior 22’ at Waddington, UK. It will be held from 6th to 27th March 2022.
  • IAF Light Combat Aircraft (LCA) Tejas will participate in the exercise along with fighter aircraft of the UK and other Air Forces. Cobra Warrior is the largest annual exercise conducted by UK’s Royal Air Force.
  • Aim: Providing operational exposure and sharing best practices amongst Air Forces, enhancing combat capability, and forging friendship bond.
  • India will be participating in the exercise for the first time. Other countries participating are the United Kingdom, Sweden, Saudi Arabia and Bulgaria.

Note: Some Important Exercise:

  • Red Flag-India and US
  • Al Nagah-India and Oman
  • ‘Naseem-Al-Bahr’-India and Oman
  • Ekuverin-India and Maldives
  • Garuda Shakti-India and Indonesia

Important day

24 February: Central Excise Day

  • Central Excise Day of India is celebrated every year on February 24. The day is being celebrated to honour the service of the Central Board of Excise and Custom (CBEC) to the country.
  • The day is celebrated to commemorate the legislation of the Central Excise and Salt act on 24 February 1944.
  • In India, the Central Board of Indirect Taxes and Customs (CBIC) is responsible for administering Customs, Goods, and Service Tax (GST), Central Excise, Service Tax, and Narcotics in India.
  • The Central Board of Indirect Taxes and Customs is formerly known as the Central Board of Excise and Customs. The Customs and Central Excise/ Central GST department was established to administer customs laws.

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