Daily Current Affairs 29 January 2022 for Banking/Insurance/SSC and other related exams.
Netherlands unveils ‘world’s-largest’ canal lock
The world’s largest canal lock was inaugurated by Dutch King Willen-Alexander at Ijmuiden The Netherlands .$338 million amount has been spent on the construction on this project.
- The Ijmuiden sea lock is 500-meter (1,640-feet) long and 70-meter wide. Construction on the massive infrastructure project began in 2016 and was meant to be done by 2019.
BANKING & FINANCE
TerraPay, NPCI International partner to enable real-time, international payments
National Payments Corporation of India (NPCI) said its international payments arm NPCI International Payments Limited (NIPL) has signed a memorandum of understanding with TerraPay, Netherlands-based global payments infrastructure company to allow Indians with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s secure payments technology.
- India receives approximately US$ 80 billion in cross-border remittances each year, making it the world’s largest recipient.
- This collaboration with TerraPay aims to make cross-border remittances as simple and convenient as possible, thanks to the UPI platform’s best-in-class real-time capabilities.
Paytm Money launches AI based ‘Pops’ messenger for user to invest and track markets
One97 Communications Limited that owns the brand Paytm, India’s leading digital payments and financial services platform, announced that its wholly-owned subsidiary Paytm Money has introduced India’s first intelligent messenger, revolutionizing the way users invest and track markets.
- The company has launched ‘Pops’, with which users can receive specific information related to their stocks, analysis about their portfolio, market news, and important market movements in an easy to consume format, all in one place.
- The platform will also serve as a marketplace to offer stock recommendations, news insights, and other services.
Faarms partners Reliance General to offer insurance to farmers
Agri-tech start-up Faarms in association with Reliance General Insurance Company Ltd. (RGICL) has introduced customised digital insurance solutions for the rural population especially the farmers.
- Under this collaboration, not just the farmers but any individual from rural areas can conveniently access and choose from a range of health and cattle insurance on the Faarms app at the touch of a button on their smartphones, Faarms said.
BUSINESS & ECONOMY
Malaysias AirAsia renamed Capital A to show it’s more than an airline
Malaysia’s AirAsia Group said it has changed the name of its listed holding company to Capital A to reflect the diversity of its business portfolio as it seeks to grow its non-airline revenue.
- The airline retains the AirAsia brand name. But the group will focus more on expanding other businesses including logistics, aircraft engineering, venture capital, education and mobile applications for payments, travel and lifestyle.
Google to invest up to $1 billion in Indian telecom operator Airtel
Alphabet Inc’s Google (GOOGL.O) will invest up to $1 billion in India’s Bharti Airtel (BRTI.NS) as the U.S. technology giant expands its hold in India, sending shares of the telecom operator as much as 6.6% higher.
- The investment is part of Google’s plans announced under two years ago to infuse $10 billion in India via its digitisation fund over five to seven years through equity deals and tie-ups.
Pushp Kumar Joshi to be new chairman and managing director of HPCL
Pushp Kumar Joshi has been picked by government headhunter PESB to be the new chairman and managing director of Hindustan Petroleum Corporation Ltd (HPCL), the nation’s third largest oil refining and fuel marketing company.
- Joshi, 58, has been on the board of HPCL for almost a decade now.
- He will replace Mukesh Kumar Surana, who superannuates on April 30 this year.
IIFL Finance Limited appoints Arun Kumar Purwar as its chairman
Fairfax and Capital Group-backed non-banking finance company IIFL Finance appointed former State Bank of India boss Arun Purwar as chairman of its board effective from April 1.
- Purwar is a veteran banker and was Chairman of the country’s largest bank – State Bank of India from November 2002 to May 2006. He was credited with the core banking initiative and stepping up the bank’s focus on the retail segment. He played an important role in starting SBI’s life insurance company- SBI Life Insurance Company.
Govt appoints Anantha Nageswaran as Chief Economic Advisor
Dr V. Anantha Nageswaran has been appointed Chief Economic Advisor to the government of India.
- Prior to this appointment, Dr. Nageswaran has worked as a writer, author, teacher and consultant. He has taught at several business schools and institutes of management in India and in Singapore.
Sathyamangalam Tiger Reserve bags TX2 award
Sathyamangalam Tiger Reserve (STR) in Erode district has been given the prestigious TX2 award after its tiger numbers doubled to 80 since 2010. Apart from the STR, the Bardia National Park in Nepal has won this year’s TX2 award for doubling the population of wild tigers.
- The award acknowledges the efforts by the State governments and the local communities which have played one of the most important roles to turn a relatively new tiger reserve into one of the source populations of tigers in India.
Republic Day: J&K Police bags highest 115 Police Medals for Gallantry
The Jammu and Kashmir Police have retained the distinction of bagging the highest number of gallantry medals among all States, Union Territories and Central Armed Police Forces (CAPFs) across the country on this years Republic Day.
- Fighting the 32-year-long armed insurgency, the J&K Police have got as many as 115 Police Medals for Gallantry (PMGs) announced by the Government of India a day ahead of the Republic Day. The next highest slot has been retained by the Central Reserve Police Force (CRPF) with 30 PMGs.
- Only seven States and two Union Territories (UTs) figure among the recipients of this year’s gallantry medals.
- While Chhattisgarh has bagged 10 PMGs, nine have gone to Odisha and seven to Maharashtra. Madhya Pradesh and Delhi have bagged three each, Jharkhand two and Uttar Pradesh and Manipur one each.
SCIENCE & TECHNOLOGY
Made in India ALH MK III aircraft inducted at INS Utkrosh
Hindustan Aeronautics Limited’s ALH MK III aircraft was formally inducted at INS Utkrosh in Port Blair by Commander-in-Chief, Andaman and Nicobar Command (CINCAN), Lieutenant General Ajai Singh.
- The induction of indigenously built Advanced Light Helicopter (ALH) MK III is a major step forward towards self-reliance or ‘atma nirbhata’ in the area of military aircraft preparedness.
- To date, over 300 of these aircraft have been delivered by HAL and are being flown by the Armed Forces. Amongst its variants, the MK III variant is a maritime role variant encompassing state-of-the-art sensors and weapons that add punch to India’s prowess at sea.
Lok Sabha secretariat launches Digital Sansad app for ease of use, access to proceedings
The Lok Sabha secretariat has launched a new app, Digital Sansad, that will make it easier for people to follow proceedings in Parliament, and also their own lawmakers.
- In addition, it will also help members of parliament access services such as checking personal updates like status of their notices, House bulletins, etc.
- As MPs are barred from using laptops inside the House, the app comes handy for parliamentary information for MPs during a debate in the House. In future, the MPs can log in for attendance, give questions for the Question Hour or submit notices for debates or adjournment motions.
Marathi author, activist Anil Awachat passes away
Marathi author and social activist Anil Awachat, better known as Baba, died on Thursday. He was 78.
- Awachat was the founder-director of the Muktangan Rehabilitation Centre in Pune and associated with several social causes.
- Known for his books including Purnia, Awachat regularly wrote for Marathi magazines and other publications. He also had a stint as a journalist and was known for his reportage.
BOOKS & AUTHORS
Book ‘Operation Khatma’ by R C Ganjoo and Ashwini Bhatnagar
The book titled ‘Operation Khatma’ has been released. It is an eyewitness account by two journalists R C Ganjoo and Ashwini Bhatnagar.
- The operation by the Special Operations Group (SOG) of Jammu and Kashmir Police led to the killing of 22 hardcore terrorists of Jammu and Kashmir Liberation Front (JKLF).
- The ‘Operation Khatma’ was launched when JKLF commander Shabir Siddiqui and about two dozen of his associate terrorists occupied the Hazratbal shrine in March 1996.
Ruskin Bond’s latest book is a homage to his beloved India
As the country celebrated Republic Day recently, Ruskin Bond’s new book, ‘A Little Book of India: Celebrating 75 years of Independence’ came in.
- Through this book, the author pays homage to the country where he was born and grew up in.
- The book was published by Penguin Random House India (PRHI), the book is an amalgamation of the “physical and spiritual” attributes of India. It promises to take readers on a journey filled with nostalgia and devotion.
MoS Culture Meenakashi Lekhi releases pictorial comic book ‘India’s Women Unsung Heroes’
Minister of State for Culture Meenakashi Lekhi has released the pictorial comic book ‘India’s Women Unsung Heroes’ in New Delhi.
- The book has been prepared by Culture Ministry in partnership with Amar Chitra Katha.
- The book portrays the tales of valour of our forgotten women freedom fighters.
“The $10 Trillion Dream” book by Subhash Garg
The former finance secretary of India, Subhash Chandra Garg has announced his debut book named “The $10 Trillion Dream”.
- The book is scheduled to hit stands towards the end of February 2022. It is published by Penguin Random House India (PRHI).
- The new book explores the critical policy issues that India faces today and suggests reforms for it to become a USD 10 trillion economy by the mid-2030s.