Daily Current Affairs 19th February, 2022

Daily Current Affairs 19 February 2022 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Railways connects India’s longest tunnel T-49 in Katra-Banihal section
In a breakthrough development, the main tunnel of the Katra-Banihal section, T-49, was successfully connected between Sumber and Arpinchala stations, the Northern Railways said.

  • Once completed, the Udhampur-Srinagar-Baramulla Rail Link (USBRL) mega project will be the longest tunnel of the Indian Railways.
  • Tunnel T-49 of the Udhampur-Srinagar-Baramula Rail Link (USBRL) project is 12.75 kms long.

Govt sanctions construction of 60,000 homes under PMAY(U)
Project proposals for the construction of over 60,000 houses were approved across the states of Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Karnataka and Rajasthan under the Pradhan Mantri Awas Yojana (Urban).

  • The 58 th meeting of Central Sanctioning and Monitoring Committee of PMAY(U, was chaired by Manoj Joshi, Secretary, Ministry of Housing and Urban Affairs (MoHUA).

Delhi becomes first state to introduce smart card for arms license
Delhi has become the first state in the country to make smart cards for arms license. On the occasion of 75th Raising Day of Delhi Police, Union Home Minister Amit Shah launched ‘Smart Card’ and ‘Shastra Mobile App’ of Shastra.

  • With the creation of a smart card, not only will the arms license holders be able to carry it with them, but it will also be very convenient for the police to investigate it. The Shastra Mobile App has been linked with the ‘E-Beat Book’. At any point of time the police officers will be able to check the license holders.

FAITH Releases India Tourism Vision 2035 Document
Federation of Associations in Indian Tourism & Hospitality (FAITH) has released the FAITH 2035 vision document containing goals and an execution path for making Indian tourism preferred and loved by the world by the year 2035. The vision document has been launched commemorating the 75th year of Indian independence. It aims to position tourism as a ‘Social-Economic Job and Infrastructure creator for India’ as well as ‘to be a role model for creating Sustainable and Inclusive Ecosystem’.

  • FAITH is the policy federation of all the national associations representing the complete tourism, travel and hospitality industry of India.


INTERNATIONAL NEWS

Iran Unveils Surface-to-surface “Khaibar Shekan” Missile
Iran unveiled a new missile with a reported range of 1,450 kilometers that would bring within reach both U.S. bases in the region as well archrival Israel.

  • The solid-fuel missile is called the “Khaibar-Shekan i.e., Khaibar-buster,” a reference to a Jewish castle overrun by Muslim armies in the early days of Islam. Israel’s closest point to Iran is about 1,000 kilometers away.

UNDP launches new Digital Strategy towards achieving SDGs
A bold new plan is being launched to support countries and communities to use digital technology as a lever to help drive down inequality, support inclusivity, tackle climate change, and open-up economic opportunities. With its ambitious new Digital Strategy 2022-2025, UNDP aims to get ahead of the ever-evolving digital reality to accelerate work towards achieving the Sustainable Development Goals (SDGs).



BANKING & FINANCE

Standard Chartered Bank launches interest-only home loan facility
Standard Chartered Bank, India announced the launch of its interest-only home loan facility aimed at new as well as its existing customers.

  • The lender said that interest-only home loan is a facility provided for purchase of completed residential properties where during a limited period of the loan tenure, borrowers will pay only the interest accrued on the principal outstanding. No principal will be deducted during this interest-only period, it said.

BoB inks pact with Assam Rifles to provide Central Forces Salary package
State-owned lender, Bank of Baroda (Bank), has signed a Memorandum of Understanding (MoU) with Assam Rifles, the oldest paramilitary force, to provide the Baroda Central Forces Salary Package. Under the agreement, Bank of Baroda will offer the Baroda Central Forces Salary Package to all personnel of the Assam Rifles, both serving and retired. Further, the Bank will also provide special benefits, including Personal Accident Insurance and a co-branded credit card.

RBI 2nd largest buyer of gold in 2021
The largest buyer, the Central Bank of Thailand, bought 90 metric tonnes of gold while RBI bought 77.5 metric tonnes taking its total gold reserve to 754.1 tonnes at the end of December 2021. When it comes to gold buying, the Reserve Bank of India (RBI) emerged as the second-largest buyer of yellow metal among the world’s Central Banks in 2021. As per Goldhub, India’s official gold reserves is the ninth-largest in the world. Goldhub is the official website of the World Gold Council that maintains all the data regarding precious metals.

Fisdom partners with Bank of Maharashtra to offer wealth management services
Fisdom, a wealth-tech company, has joined hands with Bank of Maharashtra (BoM), to offer wealth management products and services to over 29 million customers of the bank. This partnership is to distribute the wealth products and services through the bank’s network of more than 2,000 branches and its digital platforms, including the mobile banking app and internet banking.

IndusInd Bank to facilitate digital transactions on e-NAM for agri-value chain participants
IndusInd Bank was empanelled by the Small Farmers Agri-Business Consortium (SFAC) to facilitate digital collection and settlement services on National Agriculture Market (e-NAM) portal for the transactions between farmers and traders across India.

Canara HSBC OBC Life Insurance launches Flexi Edge
Canara HSBC Oriental Bank of Commerce Life Insurance has launched its new insurance plan — Flexi Edge–a non-linked participating individual savings life insurance plan that enables the customers with the ability to prioritize their long-term savings.



BUSINESS & ECONOMY

PayU announces integration with BigCommerce to boost SMB digitalization
PayU announced its integration with BigCommerce, an Open SaaS e-commerce platform for fast-growing and established brands. As a result of this integration, PayU can now provide payment infrastructure & solutions to BigCommerce’s small-to-medium-sized merchants in India.

  • The BigCommerce platform provides e-commerce services to retailers, including online store creation, search engine optimization, hosting, marketing and security. Businesses can directly integrate their BigCommerce store with PayU to offer India-specific online payment methods like UPI and more.

LKP Securities ties up with HDFC Bank Ltd to launch 3-in-1 account
LKP Securities Ltd has entered into an arrangement with HDFC Bank Ltd to offer a special 3-in-1 online account. Under this facility, customers of LKP Securities Ltd. can complete their bank account opening formalities and gain added benefits of broking and demat account.

  • The 3-in-1 account offers a host of benefits including no annual maintenance charges (AMC) for one year from the trading account opening date and waiver on brokerage charges of up to Rs 500 for one month from the date of demat account opening.

DMI Finance partners Google Pay to offer loans to digital wallet’s users
DMI Finance, a credit platform, announced the launch of a personal loan product on Google Pay to offer credit to pre-qualified users of the digital wallet platform.

  • According to the company, eligible users are pre-qualified using criteria set by DMI Finance and the product offer will be made available to them via Google Pay.

Indian businesses rank 5th in their concern for climate change: Report
Indian businesses have ranked fifth based on their concern for climate change and Indian companies are more likely to be implementing tougher climate actions compared with their global counterpart, advisory firm Deloitte said in a report. The Deloitte survey, done across 21 countries during September-October 2021, has found a higher number of top-level executives in India responding to the issue of climate change compared to the survey conducted in January-February 2021.

Edelweiss Asset Management launches MF investing app ‘eInvest’
Edelweiss Asset Management has launched mutual fund investing mobile application eInvest to help investors perform all financial transactions on the go.

  • The app comes with Insta Money feature that is a mutual fund savings account with an instant withdrawal facility to the registered bank account.

BSE collaborates with 4 regional associations to promote EGRs, International Bullion Exchange
Days after receiving in-principle approval from Sebi to launch Electronic Gold Receipts (EGR) segment, BSE said it has collaborated with four regional associations from Maharashtra and Tamil Nadu to promote such products.

  • These pacts are aimed at providing impetus for the growth and development of commodities segment in general with an impetus for the proposed EGR market, the exchange said in a statement.
  • Thirunelveli Gold Silver Diamond Jewellery Traders Association, Nanded Sarafa Association, Saraf Suvarnkar Sangthna Pusad, and Ghadchiroli Zila Sarafa Association are the four associations with which BSE inked memoranda of understanding (MoU).


OBITUARIES

Senior journalist Ravish Tiwari passes away
Former journalist with ET and a reputed political reporter and editor, Ravish Tiwari passed away after a battle with cancer.

  • Tiwari had worked with reputed news organisations, including India Today and was working as the Chief of National Bureau of The Indian Express.


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