Daily Current Affairs 28 February 2021 for Banking/Insurance/SSC and other related exams.
Andhra rolls out ‘EBC Nestham’ scheme for six lakh women
The Andhra Pradesh government approved a scheme titled ‘EBC Nestham’, under which it would grant Rs 15,000 each to economically-backward women among dominant castes.
- The new scheme, which will be an addition to a similar scheme ‘Cheyuta’ for women belonging to SC, ST, BC, Kapu and minority communities launched last year, is expected to cost the government an extra Rs 900 crore per annum.
- EBC Nestham, a new scheme, will be implemented from the next fiscal to provide Rs 45,000 financial assistance to eligible women between 45 and 60 years of age. The assistance will be doled out at a rate of Rs 15,000 each per annum for a span of three years.
Mumbai will soon have India’s 1st undersea tunnel
By 2023, Mumbai will be home to India’s first undersea tunnel, part of the city’s Rs 12,000 crore Coastal Road project.
- The Coastal Road project is an under construction 22.2-kilometre freeway that would run along Mumbai’s western coastline connecting Marine Lines in the south to Kandivali in the north.
- The 2.07 kilometre tunnel, which will have two lanes, will be 10 to 70 metres deep sub-surface. These lanes will be bored between Priyadarshini Park and Chhota Chowpatty at Marine Drive.
Indian Navy Ship Pralaya Participates in NAVDEX 21 and IDEX 21 in Abu Dhabi, UAE
India has sent a warship to Abu Dhabi to participate in two naval defence exhibitions, in reflection of its gradual expansion of military cooperation with the United Arab Emirates.
- The ship Pralaya arrived in Abu Dhabi to participate in the naval defence exhibition (NAVDEX 21) and international defence exhibition (IDEX 21).
- INS Pralaya, the second ship of the indigenously-built Prabal class missile vessel and it is fitted with an impressive array of weapons and sensors including chaff launchers and long range surface-to-surface missiles.
BANKING & FINANCE
Irdai forms panel to review security guidelines to deal with cyber-attacks
Insurance sector regulator Irdai said it has formed a committee to review its information and security guidelines due to exponential increase in cyber-attacks across the globe in the wake of Covid-19.
- The economic situation owing to the pandemic has seen an exponential increase in cyber-attacks across the globe and in particular, the financial sector.
- This situation has necessitated regulators to re-look into their Cyber Security Guidelines applicable to all regulated entities in an effort to protect the financial systems.
NPCI enables UPI AutoPay live on music streaming platform ‘Gaana’
National Payments Corporation of India (NPCI) has announced that UPI AutoPay has now gone live on Gaana.
- Its integration with UPI AutoPay has made Gaana the first player in the Media and Entertainment industry to rollout the innovative e-mandate feature on UPI.
- The introduction of UPI AutoPay will empower Gaana’s users to experience a smooth and seamless mechanism of renewing their subscriptions.
- Customers can enjoy premium, uninterrupted streaming of their choicest music, podcasts and radio without having to remember about the subscription renewal date.
SBI joins JPMorgan’s blockchain-based payment network
State Bank of India has tied up with JPMorgan to use the US bank’s blockchain technology to speed up overseas transactions.
- The tie up is expected to reduce SBI customers’ transaction costs and time taken for payments.
- Time taken to resolve cross-border payments-related inquiries can be reduced to a few hours from up to a fortnight.
- This will help cross-border payments reach beneficiaries faster and using limited steps.
BUSINESS & ECONOMY
Social Alpha, SIDBI join hands to launch a fund for startups in assistive technology space
Social Alpha and Small Industries Development Bank of India (SIDBI) have partnered up to set up the Swavalamban Divyangjan Assistive Tech Market Access (ATMA) fund, an inclusion fund offering financial grants to Social Alpha-incubated startups working in the Assistive Technology sector.
- Each startup working in this space will have access to implementation support of up to ₹20 lakh.
- The fund will finance up to 50 per cent of the product price for the initial users.
India’s Omega Seiki to make electric vehicles in Bangladesh
Indian automotive and rail parts maker Omega Seiki announced plans to invest 100 crore rupees to set up a plant near Dhaka to manufacture electric vehicles.
- The initiative will be run by OSM-Bangladesh, a subsidiary of Anglian Omega Group.
- The vehicles manufactured in Bangladesh will be sold under the OSM brand through local partners and franchises.
Vinay Kumar announces retirement from all forms of cricket
Former India cricketer and Karnataka captain R. Vinay Kumar announced his retirement from international and first-class cricket.
- An intelligent pacer and a capable batsman, Vinay played one Test (against Australia in Perth in 2012), 31 ODIs and nine T20Is.
ACQUISITIONS & MERGERS
HDFC Bank, Kotak Mahindra Bank to pick up 9.99% stake each in Ferbine
HDFC Bank said it executed an agreement for subscribing to 4,995 equity shares of the face value of ₹10 each fully paid up issued by Ferbine Private Limited for a consideration of ₹10 per equity share.
- Post investment, bank will hold 9.99 per cent of the equity shareholding of Ferbine.
- The acquisition for cash consideration of ₹49,950 will be completed by February end.
Mohamed Bazoum declared Niger’s new president
Niger’s President-elect Mohamed Bazoum has ruled out a power-sharing deal with the opposition and blamed it for bringing children from rural areas for post-election protests.
- Governing party candidate Bazoum was declared the winner of the country’s presidential election runoff , setting off allegations of fraud by the opposition which also organised protests in which at least two people died and more than 400 were arrested.
Russian supermodel Natalia Vodianova named new UN goodwill ambassador
Russian supermodel and philanthropist Natalia Vodianova became a United Nations goodwill ambassador, pledging to promote the sexual and reproductive rights of women and girls and tackle stigmas surrounding their bodies.
- She will be a campaigner for the U.N Population Fund, which now calls itself the U.N.’s sexual and reproductive health agency, known as UNFPA.
Levi’s® announces Deepika Padukone as global brand ambassador
Levi’s® is proud to announce a strategic partnership with internationally acclaimed actor and global fashion and youth icon, Deepika Padukone.
- Padukone will be seen spearheading the new campaign focused on an all new range of fashion fits from Levi’s.
Sharad Goklani appointed President & CTO at AU Small Finance Bank
Sharad Goklani has been appointed as President & CTO at AU Small Finance Bank.
- He joins from Equitas Small Finance Bank where he served as the EVP & CTO.
- Earlier, he was associated with esteemed organizations like Bharti Airtel and NIIT among others.
Matam Venkata Rao appointed as MD & CEO of Central Bank of India
The Centre has appointed Matam Venkata Rao as Managing Director & CEO of Central Bank of India for a period of three years.
- He is currently an Executive Director of Canara Bank.
- Rao is expected to replace incumbent Central Bank of India MD & CEO Pallav Mahapatra, who will superannuate on February 28.
SCIENCE & TECHNOLOGY
Common Service Centres to be integrated with e-daakhil portal to facilitate rural consumers
E-Daakhil portal for Consumer grievance redressal is now operational in 15 States and Union Territories.
- Consumer Affairs Ministry said, the e-daakhil portal empowers the consumer and their advocates to file the consumer complaints along with payment of requisite fees online from anywhere for the redressal of their complaints.
- It also facilitates the consumer commissions to scrutinize the complaints online to accept, reject or forward the complaint to the concerned commission for further processing.
BOOKS & AUTHORS
‘Bare Necessities’: Book shows how to lead sustainable lifestyle in India
A new book aims to push people to make a positive change in their life and to the environment in a fun and interactive way.
- A “one-stop guide” on how to move towards a more sustainable lifestyle in India, “Bare Necessities: How to Live a Zero Waste Life”, published by Penguin, is written by environmentalist Sahar Mansoor and sustainability consultant Tim De Ridder.
Writer-Journalist Snigdha Poonam’s new book on India’s scam culture
Penguin Random House India announced the acquisition of a new book by award-winning journalist and author Snigdha Poonam that gives an insight into the subculture of scams, cons and frauds in the country.
- The book, titled “India: A Scamster Born Every Minute”, will be released under Penguin’s Viking imprint in 2022, the publishing house.
- It proposes to navigate the sociocultural landscape of India and maps the evolution of corruption in the country.
“Bride of the Forest ‑ THE UNTOLD STORY OF YAYATI’S” book by Madhavi Mahadevan
Madhavi S Mahadevan’s latest #novel ‘Bride of the Forest: the Untold Story of Yayati’s Daughter’ traces feminist lineage by telling the lesser known story of a delicately poised figure in Mahabharata, Yayati’s daughter.
- The untold stories of women in the epics, who suffered in silence many a systemic atrocities of those times, have provided fodder for re-tellings that engage modern readers, probably because these myths continue to shape present realities.
World Pangolin Day
World Pangolin Day is celebrated on the “Third Saturday of February” every year to raise awareness about these unique mammals and speed up conservation efforts.
- In 2021, the annual World Pangolin Day is being celebrated on 20 February 2021. It marks the 10th edition of the event.