NATIONAL NEWS
FM Sitharaman launches first colour souvenir coin on 'Panchtantra'Finance Minister Nirmala Sitharaman launched the first colour souvenir coin on 'Panchtantra' on the occasion of 17th foundation day of Security Printing and Minting Corporation of India Limited (SPMCIL).
- The finance minister in her address stressed on upskilling and acquiring new skills, and upgradation to meet the technology driven economy.
India will replace use of diesel in farming with renewables by 2024, union power and renewable energy minister R K Singh said. He said the country targets to make the agriculture sector diesel- free in the next two years.
- He urged that all states should develop specific action plans to achieve the assigned targets.
- At the COP26 climate summit in Glasgow in November 2021, India committed to achieve 500 Gw non-fossil energy capacity by 2030 and meeting 50% of energy requirements through renewable energy.
Union Ministry of Tribal Affairs has sanctioned 2.26 crore rupees for various activities pertaining to the festival of Medaram Jathara 2022. The Medaram Jathara is the second-largest fair of India, after the Kumbh Mela, celebrated by the second-largest Tribal Community of Telangana - the Koya tribe for four days. This year it is being celebrated from 16th till 19th Feb 2022. MoD signs up Bengaluru startup for pseudo satellite deal|
The ministry of defence has signed up a design and development contract with NewSpace Research & Technologies, a Bengaluru-based company to develop a High Altitude Pseudo Satellite (HAPS) which will be able to conduct surveillance operations and support communications by staying airborne for months at a stretch. Government bans 54 Chinese apps posing threat to national security
Government has banned 54 Chinese apps posing threat to national security. Ministry of Electronics and Information Technology (MeitY) has issued the list of banned apps. These include Beauty Camera: Sweet Selfie HD, Beauty Camera - Selfie Camera, Equalizer & Bass Booster, CamCard for SalesForce Ent, Isoland 2: Ashes of Time Lite, Viva Video Editor, Tencent Xriver, Onmyoji Chess, Onmyoji Arena, AppLock and Dual Space Lite to name a few. Jaisalmer Desert Festival begins in Rajasthan
In Rajasthan, February is the time of myriad colourful festivals and fairs. The royal land enjoys folk dance, music, heritage and various cultural festivities in this month. The world-famous Jaisalmer Desert Festival is also known as Maru Mahotsav of the Golden City which began at Pokaran.
- The four-day-long festival started with colourful grand procession followed by Miss Pokaran and Mister Pokran competitions.
INTERNATIONAL NEWS
One Ocean Summit held in Brest, FranceOn the occasion of the One Ocean Summit taking place in Brest, France, UNESCO announced it has set itself the goal of including ocean education in the school curricula of its 193 Member States by 2025. To achieve this goal, the United Nations agency is making available to public decision-makers a toolkit with a shared reference framework of educational content on the ocean.
BANKING & FINANCE
Yes bank launches ‘YES BANK Agri Infinity’ programYES BANK announced the launch of an annual startup enabler program, YES BANK Agri Infinity, which seeks to co-develop digital financial solutions for the food and agriculture ecosystem by mentoring entrepreneurial ventures in the field.
- Through the initiative, a select cohort of startups will not only receive mentoring by veteran bankers for experiential co-development, but also get access to YES BANK’s digital banking infrastructure and network, collaborative opportunities to pilot new solutions and fundraising advisory.
BUSINESS & ECONOMY
Biggest bank fraud: CBI books ABG Shipyard, ex-MD, others for cheating banks of ₹22,842 crIn its biggest bank fraud case, the CBI has booked ABG Shipyard Ltd and its then Chairman and Managing Director Rishi Kamlesh Agarwal along with others for allegedly cheating a consortium of banks led by State Bank of India of over ₹22,842 crore. Centre's GDP deflator forecast for FY23 is 3-3.5%: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman said that the Centre’s gross domestic product (GDP) deflator projection for 2022-23 is 3 to 3.5 per cent. This means that the government’s own real GDP growth projection for the coming fiscal year is in the range of 7.6-8.1 per cent, given that the Union Budget assumes a nominal GDP growth rate of 11.1 per cent for FY23.
- GDP deflator, or implicit price deflator, is a measure of inflation and is the difference between nominal GDP and real GDP.
Retail inflation jumped to 6.01 percent in January 2022 compared to 5.56 percent in December 2021. As per the Ministry of Statistics and Programme Implementation data, rate based on the Consumer Price Index, CPI, Inflation in food and beverages rose to 5.58 percent compared to 4.5 percent in December. Ministry of Finance grants Rs 1154.90 crore to Urban Local Bodies of Andhra Pradesh, Bihar, Gujarat, and Sikkim
Department of Expenditure, Ministry of Finance has released an amount of 1154.90 crore rupees to four states for providing grants to Urban Local Bodies. The States to which grants were released are Andhra Pradesh, Bihar, Gujarat, and Sikkim. The grants released are meant for Non-Million Plus cities including Cantonment Boards.
- The 15th Finance Commission in its report for the period from 2021-22 to 2025-26 has divided the Urban Local Bodies into two categories. These are Million-Plus urban agglomerations and cities excluding Delhi and Srinagar, and all other cities and towns with less than one million population. The 15th Finance Commission has recommended separate grants for them.
APPOINTMENTS
Ilker Ayci appointed Air India CEOThe Tata Group has appointed Ilker Ayci — former Turkish Airlines Chairman — as Air India's Managing Director and CEO effective on or before April 1. The development is in line with the Tata Group's plans to appoint an expatriate chief to run the airline it took over from the Indian government last month. German president Frank-Walter Steinmeier re-elected for another term
German President Frank-Walter Steinmeier has been re-elected for a second term of five years by a special parliamentary assembly. Before first becoming president in 2017, Steinmeier, 66, served two stints as Chancellor Angela Merkel's foreign minister and earlier was chief of staff to Chancellor Gerhard Schroeder.
BOOKS
"How to Prevent the Next Pandemic" book by Bill GatesBill Gates is optimistic that "COVID-19 can be the last pandemic." So much so that he's dedicated his next book to it. His new book will be "How to Prevent the Next Pandemic." and it will be published in May 2022.
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