NATIONAL NEWS

Banks to Sign up Account Aggregator Framework

• On 22 February 2022, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman conducted a post-budget meeting with heads of Banks, Non-Banking Financial Institutions (NBFCs) and Financial Institutions in Mumbai.

• During the meeting,the Finance Minister urged all the banks to sign up to the Account Aggregator model which would facilitate seamless flow of credit for small borrowers and promote digital lending in different regions around the country including in the North Eastern Region.

• various schemes and programmes were also discussed.
• To provide cost-effective services, Finance Minister emphasised that digital banking, digital payments and fintech innovations are the ways to reduce the cost of intermediation.

DRDO Takes Part in ‘Vigyan Sarvatra Pujayate’

• As the country is celebrating ‘Azadi Ka Amrit Mahotsav’ on the occasion of the 75^th year of Independence the ‘Amrit Mahotsav Science’ also titled ‘Vigyan Sarvatra Pujyate’ is organized under the Ministry of Defence.
• ‘Vigyan Sarvatra Pujayate’ is a pan-India programme to showcase science, technology & innovation from every part of the country from February 22-28, 2022.
• The Defence Research and Development Organization (DRDO) is also organising exhibitions on the theme ‘Amrit Mahotsav Science Showcase: Roadmap to 2047’ at 16 cities throughout the country.
• Participation of DRDO in the ‘Mahotsav’ is an opportunity to highlight the work being done by R&D organizations and showcasing ideas and technology efforts on the road to 2047.
• Different technologies and scientific legacy and technology prowess that have helped find solutions to problems in various sector will be displayed.

Meeting of Financial Stability and Development Council

• On 22 February 2022, the 25^th meeting of the Financial Stability and Development Council (FSDC) was held in Mumbai chaired by Union Finance Minister Nirmala Sitharaman.

• In the meeting, the Council discussed operational issues relating to currency management, financial literacy and financial inclusion.

• It viewed the activities undertaken by the FSDC Sub-Committee chaired by the RBI Governor, Shaktikanta Das.
• The Financial Stability and Development Council has been set up by the government in consultation with financial market regulators, to strengthen and institutionalize the mechanism for maintaining financial stability, enhance inter-regulatory coordination and promote financial sector development.

RUSA scheme Extends to March 2026

• The Union ministry of education (MoE) has decided to continue the Rashtriya Uchchatar Shiksha Abhiyan (RUSA), a Centre-sponsored scheme for funding the state universities and colleges till 31 March 2026.

• RUSA has been envisaged to support around 1,600 projects under the new phase of the scheme.

• The new phase of the scheme has been designed to implement some of the recommendations and aims of the new education policy, which suggests some key changes to the current higher education system to revamp and to deliver quality higher education, with equity and inclusion.
• It is structured with an outlay of total expenditure of Rs 12,929.16 crore out of which the central share is Rs 8,120.97 crore and the state share is Rs 4,808.19 crores.
• Rashtriya Uchchatar Shiksha Abhiyan (RUSA) scheme was launched in 2013

GIS Data in Public Domain

• On 22 February 2022, The Ministry of Rural Development and Panchayati Raj, Giriraj Singh launched the rural connectivity Geographic Information Scheme (GIS) data in the public domain to improve lives in rural India.
• As part of the implementation of Pradhan Mantri Gram Sadak Yojana (PMGSY), GIS data for more than 8 lakh rural facilities as points, 1 million plus habitations, and over 25 lakhs km of rural roads have been collected and digitized using the GIS platform developed for the scheme. These collected rural connectivity GIS data will be available to the public.
• National Rural Infrastructure Development Agency (NRIDA), the nodal implementation agency of PMGSY scheme signed MoU with 3 renowned GIS firms.
• It is collaborating with Gati Shakti for releasing the Rural Connectivity GIS Data in the public domain.
• The collaboration with Gati Shakti will facilitate the exchange of data for better planning and implementation of both schemes.
• The Government of India launched PMGSY in the year 2000 to provide connectivity to unconnected habitations.
• Prime Minister Narendra Modi launched PM Gati Shakti in the year 2021 and is a digital platform that brings ministers of India together.

BANKING

IIFL Home Finance Ltd Partners with Asian Development Bank

• IIFL Home Finance Ltd (IIFL HFL) has signed a USD 68-million loan agreement with Asian Development Bank (ADB) to improve financial access to affordable green housing for lower-income groups in India.

• It mainly focuses on the efficient use of energy, water and building material and the design should be environmentally more climate resilient.

• The funding comprises a direct ADB loan of up to USD 58 million and USD 10-million concessional loan by the Canadian Climate Fund for the Private Sector in Asia (CFPS).
• This is ADB’s first such agreement with the private sector in the country.
• From ADB’s loan, 80 per cent will be lended to women borrowers or co-borrowers and 20 per cent will be allocated to financing mortgages for green-certified homes.

Paytm Payments Bank Becomes Acquiring Partner For e-RUPI Service

• Paytm Payment Bank announced that it had become an official acquiring partner for the government’s e-RUPI service through e-RUPI vouchers.

• The bank has partnered with One97 Communications Ltd (OCL) parent company of Paytm for improving strong merchant base.

• With this, Paytm’s merchants will now collect payments through e-RUPI by scanning the voucher developed by the National Payment Corporation of India through its UPI platform and entering the amount to be paid directly into their bank accounts.
• e-RUPI is a cashless prepaid voucher that beneficiaries can present through SMS or QR Code. Recently Reserve Bank of India has increased the capital of e-RUPI vouchers issued by the government to Rs. 1 lakh from Rs. 10,000.

About PPBL

HQ: Noida, Uttar pradesh.

MD & CEO: Satish Kumar Gupta.

SPORTS

Medal Tally of Winter Olympics

• The 24^th edition of winter Olympics 2022 held on February 4 – February 20,2022 at Beijing National Stadium, China.

• A total of 109 events were held with a participation of 2871 athletes.

• Haiti and Saudi Arabia made their debut in Winter Olympics.
• Norway tops Beijing Olympics 2022 with total of 37 medals followed by Germany with 27 medals.
• India diplomats to boycott Beijing Winter Olympics.

AWARD AND PRIZES

Ramanujan Prize for Young Mathematicians

• On 22 February 2022, Professor Neena Gupta received the Ramanujan Prize for Young Mathematicians for the year 2021.

• At present she is working as a mathematician of the Indian Statistical Institute in Kolkata.
• The award was conferred for her outstanding work in affine algebraic geometry and commutative algebra.
• The award is funded by the Department of Science and Technology (DST) of the Government of India in association with ICTP (International Centre for Theoretical Physics) and the International Mathematical Union (IMU).
• It is given to young mathematicians less than 45 years of age from a developing country.
• In 2014 Young Scientists Award of the Indian National Science Academy (NSA) was conferred to Neena Gupta for solving the Zariski cancellation problem, a fundamental problem in Algebraic Geometry.

APPOINTMENTS AND RESIGNATIONS

New President and CEO of Honda Cars India

• Takuya Tsumura has been appointed as the new President and CEO of Honda Cars India which is owned by Japanese based Honda Motor Co.
• He will take charge of his new role from April 1, 2022.
• Tsumura replaces Gaku Nakanishi, who completes his four-year term as the head of Honda Cars India.
• Gaku Nakanishi has been appointed as General Manager, Automobile Business, Asia and Oceania region - Asian Honda.

Chairman of IRGS

• K.N. Raghavan, Executive Director, Indian Rubber Board, has been elected the new Chairman of the International Rubber Study Group (IRSG), Singapore based intergovernmental organisation of natural and synthetic rubber producing and consuming countries.

• He will officiate as the chairman of IRGS for the next 2 years.
• He will attend the meeting of the Head of Delegations that will be held on 31 March 2022.
• With this appointment, India succeeds Cote’d Ivoire as the chairman of IRGS.

DEFENCE

C-Dome Naval Air Defence System

• On 21 February 2022, The Israeli Defense Forces successfully tested the “C-Dome” which is the naval configuration of the Iron Dome missile defense system.

• It is tested for the first time from Saar-6 Corvette INS Magen which is Israel’s Naval warship.

• It has a speed of 2716.56 kmph.
• C-Dome is a multilayer missile defence system which is capable of intercepting everything from long range to short range missiles developed by Rafael.

IMPORTANT DAYS

World Thinking Day

• World Thinking Day is celebrated every year on 22 February.

• The theme for 2022 is Our World, Our Equal Future.

• It is celebrated since 1926. World Thinking Day is a day of international friendship. It is an opportunity to speak out on issues that affect young women and fundraise for 10 million Girl Guides and Girl Scouts in 150 countries.
• In 1999, at the 30^th World Conference held in Ireland the name was changed from Thinking Day to World Thinking Day.