NATIONAL NEWS
FM Nirmala Sitharaman authorize release of advance installment of tax devolution to State Govts amounting to 47,541 crore rupeesFinance and Corporate Affairs Minister Nirmala Sitharaman has authorized the release of an advance installment of tax devolution to State Governments amounting to 47 thousand 541 crore rupees.
- This is in addition to the regular devolution for the month of January which is also being released. Thus, States would receive more than 95 thousand crore rupees.
- The release of funds will strengthen States to accelerate their capital and developmental expenditure to effectively tackle the effects of Covid-19 pandemic.
In the Union Territory of Jammu and Kashmir, the administration has declared Jerri settlement in Reasi district as the first ‘Milk Village’ of the Union Territory and sanctioned 57 more dairy farms under the Integrated Dairy Development Scheme (IDDS) for the hamlet.
- The village, which houses 73 individual dairy units with 370 cows, will give the local farmers financial security.
- After being declared as ‘Milk Village’, a total of 57 units have been sanctioned under the IDDS for the village. Under the IDDS, dairy units of five animals are provided with a 50 per cent subsidy.
The Cabinet Committee on Economic Affairs (CCEA) approved infusion of ₹1,500 crore in Indian Renewable Energy Development Agency Limited (IREDA), which will help generate 10,200 jobs a year and reduce carbon emissions equivalent to approximately 7.49 million tonnes per year.
- The additional equity infusion will enable the mini-ratna company under the ministry of new and renewable energy to lend ₹12,000 crore approximately to the renewable energy sector, thus facilitating the sector’s debt requirement of additional capacity of approximately 3,500-4,000 megawatt (MW), the CCEA said.
India will host five events this year as part of the BRICS Science Technology Innovation (STI) Steering Committee, the government said.
- The five events are - BRICS Startups Forum Meeting; Working Groups Meetings on Energy; Biotechnology & Biomedicine; ICT & High-Performance Computing; STIEP (Science, Technology, Innovation and Entrepreneurship Partnership) Working Group Meeting and the launching of BRICS innovation Launchpad as a microsite (Knowledge Hub), it said.
- The decision was made at the 15th meeting of the BRICS Science Technology Innovation (STI) Steering Committee, the Science and Technology ministry said.
The Railway Protection Force (RPF) of the Western Railways zone of Indian Railways has launched a new initiative called “Mission Amanat” to make it easier for railway passengers to get back their lost luggage.
- Under Mission Amanat, the details of lost luggage and belongings along with photos will be uploaded on the official website of the zonal railway, https://wr.indianrailways.gov.in/.
- This will help the passengers in tracking and getting back their lost belongings as well as ensure the safety and security of passengers and their luggage and belongings.
INTERNATIONAL NEWS
Global unemployment to reach 207 million in 2022: International Labour OrganisationGlobal unemployment is expected to remain above pre-Covid-19 levels until at least 2023 and is estimated at 207 million this year, almost 21 million more than in 2019, according to a report from the International Labour Organisation that gives assessments on how labour market recovery has unfolded worldwide.
- The Geneva-based United Nations agency has downgraded its forecast for labour market recovery in 2022, projecting a deficit in hours worked globally equivalent to 52 million full-time jobs, relative to the fourth quarter of 2019. The previous full-year estimate in May 2021 projected a deficit of 26 million full-time equivalent jobs.
- While this latest projection is an improvement on the situation in 2021, it remains almost two per cent below the number of global hours worked pre-pandemic, according to the ILO World Employment and Social Outlook Trends 2022 report.
- The report warns of slow and uncertain recovery as the pandemic continues to have a significant impact on global labour markets.
Nepal's south-eastern Province 2 bordering India has been named Madhes Pradesh with Janakpur retained as its capital, settling a long-standing debate on the region's official reference after it was made a province in 2015.
- The Provincial Assembly voted in two-thirds majority for both decisions. Nepal's Province 2 Bordering India Named 'Madhes Pradesh'. Of the 99 voting members, 78 voted for Janakpur as capital and 80 voted for the provincial name Madhes.
- Madhes is Nepal’s smallest province in terms of area but second largest in terms of population. It borders India (Bihar) in the south and has eight districts – Bara, Parsa, Rautahat, Sarlahi, Mahottari, Dhanusha, Siraha and Saptari.
BANKING & FINANCE
SIDBI sanctions ₹650 cr to AU and Jana Small Finance BanksSmall Industries Development Bank of India (SIDBI) has sanctioned Rs 650 crore to two small finance banks — AU SFB and Jana SFB - to provide funds to finance companies and Micro Finance Institutions (MFIs).
- An amount of Rs 530 crore has already been released to these SFBs.
- The financial assistance has been extended out of the Special Liquidity Facility sanctioned by the Reserve Bank of India. This liquidity line has been provided to SIDBI to meet the challenges being faced by the MSMEs due to the prevailing Covid-19 pandemic situation, SIDBI said.
E-commerce platform Snapdeal has partnered with Bank of Baroda subsidiary BOB Financial and NPCI to launch a co-branded contactless RuPay credit card. The co-branded credit card will be equipped with contactless features and will be offered on the RuPay platform.
- The partnership aims to popularise the adoption & usage of credit cards among the growing number of online buyers from India's smaller cities and towns.
- The Snapdeal-BoB co-branded contactless card, powered by RuPay will be rolled out to users by March 2022 and will provide a range of reward points and other benefits to the cardholders - both while they shop on Snapdeal and also when they use the card at other online and offline transaction points.
Axis Bank & CRMNEXT Solution won the IBS Intelligence (IBSi) Global FinTech Innovation Awards 2021 for the “Best CRM (Customer Relationship Management) System Implementation”. It is one of the most prominent awards for global bankers and IT (Information Technology) consultants across the world.
- The Axis Bank implemented CRMNEXT for sales and service modernisation and it also enables smarter lead processing, automated routing, complete tracking, and visibility.
- It identified and honoured technology players and banks for their excellence in banking technology implementations and innovations using emerging technologies.
India Post Payments Bank, IPPB, has crossed the five-crore customer mark in just 3 years of commencement of its operations to become one of the fastest growing digital payments bank in the country.
- Announcing this achievement, the bank said that it has opened up these five crore accounts in digital and paperless mode through its one lakh 36 thousand Post Offices.
BUSINESS & ECONOMY
SEBI launches Saa₹thi mobile app on investor education, will be helpful in accessing recent market developmentsSecurities and Exchange Board of India (SEBI) has launched Saa₹thi, a mobile app on investor education.
- The new app aims to empower investors with accurate knowledge about the securities market.
- The app will be helpful in easily accessing all the relevant information like the basic concepts of Securities Market, KYC Process, trading and settlement, mutual funds, recent market developments, investor grievances redressal mechanism, etc. It is currently available in Hindi and English.
Markets regulator Sebi has cut the timeline for filing settlement applications to just 60 days from the current 180 days in its effort to make the system more efficient.
- Currently, a settlement application can be filed within 60 days of the date of receipt of the show-cause notice.
- However, an additional 120 days can be availed by the applicants in case they pay an additional 25% over the settlement charges.
National Innovation Foundation’s Incubation and Entrepreneurship Council and Amazon India have signed an MoU for online distribution of product of grassroots innovations, student innovations, and outstanding traditional knowledge-based products.
- The MoU will make innovations from rural parts of India available universally.
- Through this MoU capacity building of grassroots innovators by engaging industry and subject matter experts would be ensured.
SPORTS
India tennis star Sania Mirza to retire after 2022 seasonSania Mirza, the most successful woman in Indian tennis history, has decided that she is bidding adieu to the sports at the end of 2022. The 35-year-old had already bowed out of singles competitions in 2013.
- Sania has six Grand Slam titles in women's doubles and mixed doubles to her name. However, her last Slam win came at the Australian Open as far back as in 2016. Her last headline-grabbing win came with Chinese partner Shuai Zhang in women's doubles at the Ostrava Open on September 26, 2021.
Tata Consultancy Services (TCS) announced that it has partnered with the Canada Running Series (CRS) as the new title sponsor and official IT services and technology consulting partner of the Toronto Waterfront Marathon and Virtual Race through November 2026.
- The development follows TCS’ renewal as the title and technology sponsorship of the TCS New York City Marathon, and becoming the new title and technology sponsor of the TCS London Marathon this year.
APPOINTMENTS
Shashank Goel appointed as Additional Secretary in Labor and Employment MinistryAppointments Committee of the Cabinet has approved the appointment of Shashank Goel, IAS of 90 batch as Additional Secretary in Ministry of Labour and Employment. Shailesh Kumar Singh, IAS of 91 batch has been appointed as Additional Secretary and Development Commissioner, Ministry of Micro, Small and Medium Enterprises.
- Manish Kumar Gupta who is presently Principal Commissioner, Delhi Development Authority, Ministry of Housing and Urban Affairs has been appointed as Vice-Chairman, Delhi Development Authority in the rank of Additional Secretary.
- Chanchal Kumar, lAS of 92 batch has been appointed as Managing Director, National Highways and Infrastructure Development Corporation Ltd under the Ministry of Road Transport and Highways.
AWARDS
Sushmita Sen wins International Association of Working Women Award for Aarya 2Bollywood actress and former Miss Universe Sushmita Sen is elated on being conferred the International Association of Working Women Award for outstanding performance by a female actor in a TV series for her show ‘Aarya 2’.
- The award is presented by the DC South Asian Film Festival (DCSAFF), which is currently underway virtually starting from January 16 to January 30.
- The actress credits the team of ‘Aarya’ for working tirelessly for the show that is now gaining global recognition.
SCIENCE & TECHNOLOGY
Iran Launches 'cost-efficient' Solid-fuel Satellite Carrier Rocket Into Space:Iran's paramilitary Revolutionary Guard launched a solid-fuel satellite carrier rocket into space, the country's official IRNA news agency reported.
- It marked the first time Iran used a solid-fuel rocket rather than a liquid-fuel one. Iran will produce lighter rocket engines in further space projects.The satellite carrier was made of a composite material instead of metal something he claimed was cost-efficient.
- Satellite carriers usually use liquid fuel but solid-fuel rockets can be adapted for mobile launchers that can be driven anywhere on a major road or rail system. Pure solid-fuel rockets are mostly associated with ballistic missiles systems.
A completely new Tupolev Tu-160M strategic missile-carrying bomber nicknamed the ‘White Swan’ by Russian military pilots performed its debut flight, the press office of the state tech corporation Rostec announced.
- The newly-built strategic bomber performed its flight at an altitude of 600 meters that lasted about 30 minutes.
- The crew of test pilots of the Tupolev Company conducted maneuvers making it possible to inspect the aircraft’s stable and controlled operations in the air.
Gujarat government has launched a helpline for senior citizens. Minister of Social Justice and Empowerment Pradip Parmar has launched this helpline with a toll-free number 14567.
- This helpline known as Elder Line has been activated with immediate effect. Senior Citizens will get information related to various government schemes, different social issues, details of Old-age homes and Senior Citizens Act 2007 through this helpline number.
BOOKS & AUTHORS
New biography of Subhas Chandra Bose with untold stories to release in February 2022A new biography titled “Bose: The Untold Story of An Inconvenient Nationalist” authored by Chandrachur Ghose will be released in February 2022.
- The book contains the thoughts and opinions of Subhas Chandra Bose about the development of independent India, communalism, geopolitics and political ideology.
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