NATIONAL NEWS

MILAN-2022

• MILAN 2022 is an Indian Navy’s multilateral exercise is being conducted over a duration of 9 days in two phases with the harbour phase scheduled from 25 to 28 February and Sea Phase from 01 to 04 March in Visakhapatnam.
• The theme of the MILAN 2022 exercise is ‘Camaraderie – Cohesion – Collaboration’.
• This edition of MILAN would be larger in ‘scope and complexity’ with focus on exercises at sea including exercises in surface, sub-surface and air domains and weapon firings.
• More than 40 countries will participate in this exercise to enhance mutual understanding, cooperation and inter-operability between maritime forces.

Quantum Key Distribution Between Two Cities

• For the first time, Scientists from Defence Research and Development Organisation (DRDO) with Indian Institute of Technology (IIT) Delhi, successfully demonstrated Quantum Key Distribution link between Prayagraj and Vindhyachal in Uttar Pradesh, a distance of more than 100 kilometres.
• 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.
• This technology will enable security agencies to plan a suitable quantum communication network with indigenous technology to transfer secure key for finding military grade communication security key.

Dredging Museum in Visakhapatnam

• On 23 February 2022, Union Minister for Ports, Shipping and Waterways Sarbananda Sonawal inaugurated “Nikarshan Sadan”, the Dredging Corporation Museum at DCI campus in Visakhapatnam.

• The museum displayed models of different types of dredgers, vintage photos & historical milestones from the Eastern Port City of Vizag and he mentioned dredging is very important for strengthening the country's economy.
• Dredging Corporation of India is celebrating 45 years of service to National Ports with the 'Azadi ka Amrut Mahotsav'.
• He also inaugurated skill development facility -Centre of Excellence in Maritime and Shipbuilding (CEMS) in Visakhapatnam. CEMS will equip students with employable engineering and technical skills in the ship design and advanced digital manufacturing.

Matsya 6000

• National Institute of Ocean Technology (NIOT), announced that the indigenously developed manned underwater submersible vehicle capable of taking three humans to a depth of 6,000 m, Matsya 6000, will be ready as originally planned for its launch in 2024 for the Samudrayaan Mission.
• It is designed by Indian Space Research Organization (ISRO) and Ministry of Earth Science under the Deep Ocean Mission.
• It will have an operational capacity of 12h for deep ocean exploration of non-living resources located at a depth between 1,000 and 5,500 meters.

BANKING

HDFC Bank Partners with ICEPL

• Earlier on 19th February 2022, Prime Minister Narendra Modi virtually inaugurated the municipal solid waste based Gobar-Dhan plant in Indore city, Madhya Pradesh.
• India's leading private sector bank, HDFC bank has been collaborated with Indore clean energy private limited (ICEPL) for development of 550 tonne per day of municipal solid waste (MSW) into compressed biogas (CBG)
• HDFC Bank funded this project under its ESG (Environmental, Social and Governance). ICEPL has a 20-Year Concession Agreement with Indore Municipal Corporation (IMC) for procurement of municipal solid waste and converting it to CBG.
• Indore clean energy pvt ltd (ICEPL), the largest waste to energy plant in Asia is promoted by Green Growth Equity Fund (GGEF), which is the largest climate impact fund in India with investors like National Investment and Infrastructure Fund and Government of UK.

TripMoney partners with SBM Bank India to launch Global Credit Card
 

• Fintech arm of MakeMyTrip, TripMoney and SBM Bank India have partnered to launch a rupee-denominated secure credit card, TripMoney Global Card.
• This card is powered by visa that can be used over 150 countries and empowers Indian travellers with a safe, transparent, and swift money management solution.
• The card mainly targets at international travellers, including the student population, who prefer a combination of lifestyle benefits with advanced digital money management features.
• The card carries no hidden charges such as currency exchange conversion across POS, ATMs, and e commerce websites.

Edelweiss General Insurance Partners with Ashv Finance

• Digital Insurer, Edelweiss General Insurance (EGI), has joined hands with Ashv Finance, a tech-led NBFC present in India, to offer financial protection to all business loan borrowers of Ashv Finance.
• Ashv Finance is offering credit to fund the growth aspirations of small businesses and MSMEs.
• EGI will offer health insurance cover to all the customers of Ashv Finance in all major cities across the country depending on the loan amount and loan tenure of the customer.
• The business loan and the insurance policy will be processed together, digitally and with zero paperwork, offering complete ease and convenience to customers.

About EGI:

• HQ: Mumbai, Maharashtra.

• CEO: Shanai Ghosh.

About Ashv Finance:

• HQ: Mumbai, Maharashtra.

• CEO: Nikesh Kumar Sinha.

SPORTS

Carlos Alcaraz Becomes Youngest ATP 500 Winner

•  Spain player, Carlos Alcaraz made history at the Rio Open Tennis by becoming the youngest-ever winner of an ATP 500 event held in Rio de Janeiro.

• The 18-year-old Carlos defeated Argentine Diego Schwartzman 6-4, 6-2.
• Alcaraz converted five of his six break points in the match. Overall, he won 55 per cent of his return points to put constant pressure on his veteran opponent.

APPOINTMENTS AND RESIGNATIONS

Director of Central Board of RBI

• IAS Officer Sanjay Malhotra has been appointed as Director in the central board of Reserve Bank of India by the Central Government.
• Mr. Sanjay Malhotra is an IAS Officer of 1990 Batch from Rajasthan Cadre.
• Previously he was serving as the Financial Secretary in the Department of Financial Services of central government and as the Chairman and Managing Director of Rural Electrification Corporation limited.

BOOKS AND AUTHORS

A Book by Jimmy Soni

• Award-winning author and biographer, Jimmy Soni authored a book titled “The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley”.
• It was published by Simon and Schuster.
• It highlights the story of payment company Paypal.

IMPORTANT DAYS

Central Excise Day

• Central Excise Day is celebrated every year on February 24.
• Central Excise Day is celebrated to commemorate the legislation of Central Excise and Salt Act on February 24, 1944.
• It is observed to honour the services of employees of the Central Board of Excise and Custom (CBEC)

OBITUARY

Minister Mekapati Goutham

• Industries minister in the Andhra Pradesh State Cabinet, Mekapati Goutham Reddy passed away. He was 50.
• He was the Minister for Industries, Commerce, and Information Technology in the Government of Andhra Pradesh.
• He was an Indian businessman from the state of Andhra Pradesh.

Malayalam Actress KPAC Lalitha

• Veteran Malayalam actor Maheshwari Amma popularly known as K.P.A.C. Lalitha passed away at Thripunithura, Kerala. She was 74.

• She was born in 1948 in Alappuzha, Kerala.
• She was conferred with 2 National film award and 4 Kerala State Flim Awards for best actress.
• She authored a book titled “Katha Thudarum” for which she was awarded the Cherkad Award in 2013.