Current Affairs 25th and 26th February 2022, Daily GK Update
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Giriraj Singh launched Ombudsperson app for smooth functioning of MNREGA scheme
- Minister of Rural Development and Panchayati Raj, Giriraj Singh has launched Ombudsperson App for MNREGA.
- It will facilitate hassle-free reporting, categorization of grievances, and disposal of complaints by Ombudsperson. It will also ensure tracking and timely passing of awards by Ombudsperson.
- The app will ensure transparency and accountability in the ecosystem of MNREGA. Ombudsperson can also easily upload quarterly and annual reports on the website through the app.
Indian Railways & BHEL commissioned India’s 1st solar photovoltaic plant of 1.7 MW at Bina, MP
- Indian Railways and Bharat Heavy Electricals Limited (BHEL), has successfully commissioned India’s first Solar Photovoltaic Plant of 1.7-MegaWatt at Bina, Madhya Pradesh.
- The plant is under extensive testing and will be in operation for Indian Railways. The solar plant will be directly connected to the overhead traction system and will produce approximately 25 lakh units of energy annually.
- The plant has 5800 solar modules, mounted on 145 sets of the modular mounting structure.
- Aim: The installation of the solar plants is to achieve conversion of Indian Railways to ‘Net Zero’ Carbon Emission and ‘Go Green’ by 2030.
About Bharat Heavy Electricals Limited (BHEL):
- Founded: 1964
- Headquarters: New Delhi
- CEO: Nalin Singhal
World Economic Forum signed MoU with NIUA to collaborate on ‘Sustainable Cities India program’
- World Economic Forum has signed MoU with the National Institute of Urban Affairs (NIUA) to collaborate on ‘Sustainable Cities India program’.
- Sustainable Cities India program enable cities to decarbonize in systematic and sustainable way that will reduce emissions and deliver resilient and equitable urban ecosystems.
- Aim: to create an enabling environment for cities to generate decarbonization solutions across the energy, transport, and built environment sectors.
About World Economic Forum (WEF):
- Founded: January 1971
- Founder & Executive Chairman: Klaus Schwab
- Headquarters: Cologny, Switzerland
Banking and Financial
GoI celebrated 3rd anniversary of PM-KISAN, over Rs 1.80 lakh crores transferred directly into farmers’ accounts
- 24th February 2022, marks the 3rd anniversary of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme. It was launched on 24th February in 2019 by Prime Minister Narendra Modi at Gorakhpur, Uttar Pradesh.
- About 11.78 crore farmers as of February 22, 2022, have been benefitted under the PM Kisan scheme. The amount worth 1.82 lakh crore have been disbursed to eligible beneficiaries across India in various intervals. During the current Covid 19 epidemic period, Rs. 1.29 lakh crore has been released.
- PM-KISAN is a center sectored scheme that was launched on 24th February 2019 to substitute monetary needs of landholding farmers. The monetary benefit of Rs 6000/- per year in three equal installments, every four-month, 3 times a year, it is transferred into the bank accounts of the families of the farmers across the country through Direct Benefit Transfer or DBT mode.
- The scheme was in the starting meant for small and marginal farmers having landholding up to 2 hectares but then the scope of the scheme was extended to cover all landholding farmers with effect from 01.06.2019.
- The government of India has allocated Rs 68,000 Crore for the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) in the Union Budget 2022-23, which is just 4.6 percent higher than the Budget Estimates of Rs 65,000 crore for 2021-22 and only 0.74 percent higher than the revised estimates of Rs 67,500 crore for the current financial year (FY22).
Moody’s projected India’s GDP growth at 9.5% for 2022
- Moody’s Investors Service has raised India’s GDP growth forecast to 9.5% from 7% for the calendar year 2022.
- It also forecasted the GDP growth at 8.4 % for FY23. It also estimated that the GDP growth forecast for 2023 stands at 5.5% and 6.5% for FY24.
- Moody revised its growth projection for India citing stronger-than-expected economic recovery from national lockdown of 2020 and COVID-19 pandemic in mid-2021.
Note: India GDP projected for FY22 (2021-2022)
- Word Bank-3%, 8.7% in 2022-23
- ICRA-9% in FY22 and FY23
- Crisil-5%, 7.8 for FY23
- Fitch Ratings-8.4%
RBI directed NBFCs to implement core financial services solution by September 2025
- Reserve Bank of India (RBI) directed certain Non-Banking Financial Companies (NBFCs) to mandatorily implement ‘Core Financial Services Solution (CFSS)’ by 30th September 2025.
- In October 2021, RBI introduced the ‘Scale Based Regulation’ (SBR) framework for NBFCs and mandated NBFCs with 10 and more branches to adopt Core Banking Solution with effect from October 01, 2022.
- As per the framework, currently RBI has directed the NBFCs – Middle Layer and NBFCs – Upper Layer with 10 and more ‘fixed point service delivery units’ as on 1st October 2022 to implement CFSS (similar to the Core Banking Solution (CBS) adopted by banks) on or before September 30, 2025.
- NBFC – Upper Layer should implement CFSS at least in 70% of ‘fixed point service delivery units’ on or before September 30, 2024. The implementation of CFSS is not mandatory in NBFC – Base Layer and NBFC – Middle and Upper Layers with fewer than 10 fixed point service delivery units.
About Reserve Bank of India (RBI):
- Founded: April 1, 1935
- Headquarters: Mumbai, Maharashtra
- Governor: Shaktikanta Das
- Deputy Governors: Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar
EaseMyTrip partnered with Toffee Insurance to provide travel insurance policy
- EaseMyTrip has partnered with Toffee Insurance to offer a first-of-its-kind, free-of-charge, full refund medical policy that provides additional travel flexibility for customers.
- Through the free of charge policy, the customers will get a complete refund including the money deducted by airlines. The policy can be claimed by uploading a doctor’s prescription citing the medical illness.
- Toffee Insurance will manage all travel insurance products for EaseMyTrip customer’s cancelling flight bookings caused due to medical emergencies.
- Headquarters: New Delhi, Delhi
- CEO: Nishant Pitti
IATA joined hands with Standard Chartered Bank to launch new payment platform in Indian airlines industry
- The International Air Transport Association (IATA) joins hands with the Global banking group ‘Standard Chartered Bank’ to launch its new payment platform “IATA Pay” for the Indian airline industry to enable instant airline payment.
- IATA Pay in India is based on Standard Chartered’s Straight2Bank Pay. Straight2Bank Pay is a multiple payment options mode, made through single global connectivity.
- In addition to credit card payment, IATA Pay will be another payment option for fast money transfers. IATA Pay provides instant payment options such as Unified Payment Interface (UPI) Scan and Pay and UPI Collect.
- The IATA Pay simplifies the payment process and provides industry-wide e-commerce solutions. It eliminates the acquiring fee to card acquirers and also avoids bilateral integrations with multiple service providers.
About Standard Chartered Bank:
- Founded:1969, London, United Kingdom
- CEO: Bill Winters
Appointment and Resignation
Rishabh Pant appointed as the brand ambassador of Dish TV
- Dish TV India Limited’s DTH brand D2H, has announced the appointment of Indian cricketer Rishabh Pant as its new brand ambassador.
- Pant will feature in the brand’s 360-degree communication for the next two years. This investment in the D2H brand is going to make it even stronger.
- The close affinity between the D2H brand and Rishabh Pant as brand ambassadors will enable deeper engagement of D2H with its TG.
Note: List of brand ambassador
- Games24x7’s ‘RummyCircle’: Hrithik Roshan
- Uttarakhand: Akshay Kumar
- Bata India: Disha Patani
- MediBuddy: Amitabh Bachchan
- Brand Ambassador and investor of Krishi Network: Pankaj Tripathi
- Gaming app A23: Shah Rukh Khan
- Khadi & handicrafts of Bihar: Manoj Tiwari
- Adidas: Manika Batra
- ‘Beti Bachao Beti Padhao’ Brand Ambassadors of Gurugram: Tanishka Kotia & Riddhika Kotia
Nitin Paranjpe appointed as non-executive Chairman, Sanjiv Mehta as CEO of HUL
- FMCG major Hindustan Unilever Ltd (HUL) has announced separation of the position of Chairman and the CEO & Managing Director of the company.
- Sanjiv Mehta will continue to be the Chief Executive Officer & Managing Director (CEO & MD) of HUL. Nitin Paranjpe has been appointed as the Non-Executive Chairman of the company with effect from 31st March, 2022.
- He is currently serving as Chief Operating Officer of Unilever (parent company of HUL).
About Hindustan Unilever Ltd (HUL):
- Founded: 17 October 1933
- CEO: Sanjiv Mehta
- Headquarters: Mumbai
Rakesh Sharma re-appointed as MD & CEO of IDBI Bank
- Rakesh Sharma has been re-appointed as the Managing Director and Chief Executive Officer of IDBI Bank.
- His appointment has been approved by the Reserve Bank of India (RBI). He has been appointed for a period of 3 years with effect from March 19, 2022.
- He was appointed as the MD & CEO of IDBI Bank for the first time in October 2018. Prior to this, he was working with Canara Bank as MD & CEO.
About IDBI Bank:
- Founded: 1 July 1964
- Headquarters: Mumbai
- MD & CEO: Rakesh Sharma
MM Naravane presented Presidential Colours to four para battalions
- Chief of Army Staff General MM Naravane has presented Presidential Colours to four parachute battalions at Parachute Regiment Training Centre in Bengaluru.
- The four battalions are the 11 Para (Special Forces), 21 Para (Special Forces), 23 Para, and 29 Para battalions.
- The award of President’s Colours or the ‘Nishan’ is one of the highest honours bestowed upon a military unit in recognition of its exceptional service to the nation, both during the war and in peace.
- The Parachute Regiment is an elite force of the Indian Army and holds an impeccable record in battle, both before and after Independence. It has been conferred with 51 Battle Honours, one Victoria Cross, 28 Military Medals (MM), 11 Distinguished Service Orders (DSO), 40 Indian Distinguished Service Medals (IDSM) and 40 Military Cross (MC) up to independence.
Indian Navy’s multilateral exercise Milan-2022 began in Visakhapatnam
- Indian Navy’s multilateral exercise ‘Milan-2022’ has been organized in Visakhapatnam, Andhra Pradesh.
- It will be conducted over a duration of nine days in two phases with the harbour phase scheduled from February 25 and the Sea Phase from 1st March to 4th March.
- It is a biennial multilateral naval exercise incepted by the Indian Navy in 1995 at the Andaman and Nicobar Command. More than 40 countries are participating in Milan 22.
- Theme: ‘Camaraderie – Cohesion – Collaboration’.
Note: Some Important Exercise:
- KAZIND: India and Kazakhstan
- Dharma Guardian: India and Japan
- Shinyu Maitri: India and Japan
- JIMEX: Indian and Japanese
- Dustlik: India-Uzbekistan
DRDO successfully tested India’s 1st Quantum Key Distribution Technology in Uttar Pradesh
- The Defence Research and Development Organisation (DRDO), in collaboration with the Indian Institute of Technology, Delhi for the 1st time successfully demonstrated India’s indigenous technology, Quantum Key Distribution (QKD) link between Prayagraj, Uttar Pradesh and Vindhyachal, UP, a distance of more than100 kilometers.
- It is developed by the Centre for Artificial Intelligence and Robotics (CAIR), Bengaluru, and Mumbai-based DRDO Young Scientists’ Laboratory– Quantum Technology (DYSL-QT).
- With this success, the country has demonstrated indigenous technology of secure key transfer for bootstrapping military-grade communication security key hierarchy.
- QKD is a secure communication method between defense and strategic agencies using cryptography that can be achieved over a commercial-grade optical fibre. It enables two parties to produce a shared random secret key known only to them, which can then be used to encrypt and decrypt messages.
About Defence Research and Development Organisation (DRDO):
- Headquarters: DRDO Bhavan, New Delhi
- Chairman: G Satheesh Reddy
IBM launched a new Cybersecurity Hub in Bengaluru to address cyberattack
- International Business Machines (IBM) has announced to launch a new cybersecurity hub based in India, to address the growing threat of cyberattacks in the Asia Pacific (APAC) region.
- IBM Security Command Center will be located at the IBM office in Bengaluru, Karnataka. This new cyber security hub is one of the only two such centres of IBM globally, other one is located in US.
- IBM global analysis report for 2022 states that Asia emerged as the top-most targeted region for cyberattacks.
About International Business Machines (IBM):
- Founded: 16 June 1911
- Founder: Charles Ranlett Flint
- Headquarters: New York, United States
- CEO: Arvind Krishna
Book and Author
A book titled ‘The Great Tech Game’ authored by Anirudh Suri
- Famous Indian author Anirudh Suri has come out with his new book titled ‘The Great Tech Game: Shaping Geopolitics and the Destinies of Nations.’
- It has been published by HarperCollins India publication. The book lays out a roadmap for how any country must develop its own strategic plan to succeed in this technology-dominant era.
- He is the founding partner and managing director of India Internet Fund.
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