Daily Current Affairs 14 February 2021 for Banking/Insurance/SSC and other related exams.
MoU signed between Indian Navy and IIT Delhi
Furthering the relationship between Indian Navy and IIT Delhi on research in underwater domain of Naval Electronic Systems, a Memorandum of Understanding has been signed.
- The relationship dates back to 1970s and key technologies for Navy in the field of underwater electronics have been developed by the Centre for Applied Research in Electronics (CARE) at IIT Delhi since then.
- The research carried out at IIT Delhi has played an important role in the technological advances made by the Indian Navy.
NSDC inks partnership with HP to impart skills to students
Hewlett Packard (HP) India and National Skill Development Corporation inked a partnership to provide worksheets and content to facilitate home learning and early skill development of students across India.
- Under the partnership, NSDC will host content from HP’s Print Learn Center on its digital skilling platform–eSkill India, and make it available for potential users as well as aspiring students, free of cost.
- It should be mentioned that HP’s Print Learn Center (HP-PLC) initiative provides printable learning modules, created by education and skilling experts. Additionally, HP’s Print Learn Center content will be made available in English and seven Indian languages (Kannada, Tamil, Telugu, Bengali, Hindi, Gujarati, and Marathi).
BANKING & FINANCE
PNB inks deal with Indian Oil to provide up to Rs 2 cr loan to dealers
State-owned Punjab National Bank (PNB) said it has inked a pact with Indian Oil Corporation to provide up to ₹2 crore to the oil company’s dealers.
- The MoU would benefit dealers with credit facilities at lower interest rates, nil margin, and with minimum or zero collateral requirements through the PNB e-Dealer scheme.
- The loan can be availed maximum up to ₹2 crore with zero-margin. Also, PNB said it will not ask for any collateral security from those having dealership with Indian Oil of 5 years or more.
ICICI Lombard launches ‘Corporate India Risk Index’
ICICI Lombard launched what it claims to be the first corporate risk index to help businesses navigate the post-pandemic world by addressing a myriad of issues across the operation, supply-chains, cyber threats, falling revenue, hybrid working, among others.
- Corporate risk index that uses risk measurement tool has been developed with the management consulting firm Frost & Sullivan covering 150 top companies from its own investment portfolio across 15 key sectors.
- While the company will release an annual risk report in these companies for free, a customised report will be prepared on individual companies on demand.
Star Health Insurance partners with PhonePe to offer Digital Health Insurance
Star Health and Allied Insurance, a leading standalone health Insurance company in India, announced the launch of its Arogya Sanjeevani policy on PhonePe – a popular Indian digital payments platform.
- All PhonePe users can now protect their families from financial burdens in the event of any medical emergency. The policy is available at an annual premium of only Rs. 2985/- (excluding GST) for sum insured of Rs. 1 lakh.
- This policy has been designed to cover the most essential aspects of any instance of hospitalization in the family. The policy covers anyone up to 65 years with sum insured options up to Rs. 10 lakh.
BUSINESS & ECONOMY
Sidbi, COWE launch campaign to promote Stand-Up India scheme
Small Industries Development Bank of India (Sidbi), along with the Confederation of Women Entrepreneurs of India (COWE), has launched a campaign to give a fillip to the government”s Stand Up India (SUI) scheme.
- The mega campaign – Swavalamban Sashakt is a 20 webinar series aimed at creating awareness about the SUI scheme.
- The scheme is a flagship programme launched by Prime Minister Narendra Modi to facilitate bank loans between Rs 10 lakh and Rs 1 crore to at least one scheduled caste (SC) or scheduled tribe (ST) borrower. The scheme has now been extended up to FY2025.
ACQUISITIONS & MERGERS
Govt to sell 20% stake in NFL
The government will sell 20% of its stake in National Fertilizers Ltd (NFL) through an offer for sale and has invited bids from merchant bankers for managing the share sale. The deadline for submitting the bids is March 2, 2021.
- At the current market price, selling 20% stake can fetch about Rs 400 crore to the exchequer. Shares of NFL closed at Rs 41.80, up 2.33% over the previous close on the BSE. The government holds 74.71% stake in the company.
Bank of India to acquire 49% stake each in BOI AXA Investment Managers, BOI AXA Trustee Services
Fair trade regulator CCI approved Bank of India’s acquisition of 49 per cent stake each in BOI AXA Investment Managers and BOI AXA Trustee Services.
- According to a combination notice filed with the regulator, total asset under management (AUM) of BOI AXA Mutual Fund was Rs 2,426 crore as of November 30, 2020.
SCIENCE & TECHNOLOGY
TIFAC launches job portal named ‘Saksham’ for placing workers in MSMEs
Technology Information, Forecasting and Assessment Council (TIFAC), think-tank under the Department of Science and Technology has launched a job portal Saksham that will conduct skills mapping exercises of workers as per requirements of MSMEs.
- It also launched a seaweed cultivation mission on TIFAC’s 34th Foundation Day.
- The ”Saksham” job portal will help eliminate middlemen, labour contractors as well as help in identification of skill proficiency level and development of skill cards for ”shramiks” (workers).
- By an estimate, if seaweed cultivation is done in 10 million hectares or five per cent of the Exclusive Economic Zone area of India, it can provide employment to 50 million people.
Aarogya Setu gets CoWIN app integration
India’s Covid-19 tracing app Aarogya Setu has been integrated with the vaccine registration app CoWIN.
- This will users download their vaccination certificates and get other information about the vaccine drive from the Aarogya Setu app itself.
Former West Indies pacer Ezra Moseley passes away
Former Windies pacer Ezra Moseley passed away after being hit by a car in his native Barbados. He was 63.
- Moseley played 76 matches and took 279 wickets at an average of 23.31 runs per wicket. He also took 102 wickets in 79 List A matches.
- He was the assistant coach when the West Indies Women’s team won the ICC Women’s T20 World Cup in India in 2016 and was the current coach of the Barbados Women’s team.
BOOKS & AUTHORS
Book titled “Kamala’s Way” by Dan Morai
Kamala’s Way, a new biography of Kamala Harris, first Black woman to be elected Vice President of the United States by California journalist Dan Morain has been released recently.
- The book charting how the daughter of two immigrants in segregated California became one of this country’s most effective power players.