Daily Current Affairs 4th January, 2022

Daily Current Affairs 4 January 2022 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

MP Sushmita Dev only woman in 31-member Panel examining bill to raise legal marriage age
Trinamool MP Sushmita Dev is the only woman member of the parliamentary panel that will examine the Prohibition on Child Marriage (Amendment) Bill seeking to increase the age of legal marriage of women from 18 to 21 years.

• During the winter session of Parliament, the bill was introduced in the Lok Sabha by Union minister Smriti Irani. Then it was sent to the 31-member committee for examination.
• According to the members’ list of the parliamentary standing committee, led by senior BJP leader Vinay Sahasrabuddhe, available on the Rajya Sabha website, Sushmita Dev is the only woman among the 31 members.

Semiconductor mission launched by IT minister Ashwini Vaishnaw
Information Technology Minister Ashwini Vaishnaw launched the India Semiconductor Mission.

• Vaishnaw said companies which are interested in tapping the Rs 76,000-crore incentives earmarked by the Centre for development of semiconductors and display manufacturing ecosystem in India can begin applying for the same from January 1.
• The India Semiconductor Mission (ISM) is a specialised and independent business division within the Digital India Corporation. It has been set up with the aim to build a vibrant semiconductor and display ecosystem to enable India’s emergence as a global hub for electronics manufacturing and design.

Centre sticks to 8 lakh rupees annual income criteria for reservation to Economically Weaker Section candidates
The Centre has told Supreme Court that it has decided to retain the existing 8 lakh rupees annual income criteria for candidates of Economic Weaker Sections for NEET-PG counselling.

• In an affidavit filed before the apex court, the government said that its decision is based on the recommendations of the expert committee. The Centre said, changing the criteria midway will lead to complications in the ongoing admissions.

INTERNATIONAL NEWS

France takes over six-month EU presidency
France took over the presidency of the Council of the European Union from 1st January 2022, after a break of 13 years.

• During a six-month period, the country will lead the work of the Council, building co-operation and agreement between the member states.
• The motto of France as EU President is “recovery, strength, belonging.”

BANKING & FINANCE

CryptoWire Releases India’s First Cryptocurrency Index to Help Users ‘Learn Before Earn’
CryptoWire, a crypto super app announced the launch of India’s first index of cryptocurrencies, IC15 with a view to empowering knowledge on blockchain ecosystem.

• The index tracks and measures the performance of the top 15 widely traded liquid cryptocurrencies listed on leading crypto exchanges of the world.
• An index that captures over 80 percent of market movement is, thus, a fundamental market tracking and assessing tool to base decisions on and enhance transparency.

Fino Payments Bank receives RBI approval for cross border remittances
Fino Payments Bank has received the Reserve Bank of India’s approval for commencing international remittance business under the Money Transfer Service Scheme (MTSS).

• The bank will be undertaking inward cross-border money transfer activities in association with an overseas principal, the details of which are being worked out.

Nippon MF, ICICI Prudential MF race to launch India’s first Auto
Two of the country’s largest mutual fund houses are vying with each other to launch the country’s first exchange traded fund (ETF) based on the auto and auto ancillary sectors. 

• Both Nippon Mutual Fund and ICICI Prudential Mutual Fund announced launching their respective Nifty Auto ETFs that will mirror the Nifty Auto Index, which comprises of all the automobile majors of the country along with those from the auto ancillary segment. The Auto ETF is an open-ended scheme replicating/ tracking the Nifty Auto Index.
• Interestingly, it is difficult to ascertain which one would be the first as the both the new fund offers (NFOs) will open on January 5. While the ICICI Prudential fund will close on January 10, the one by Nippon MF will be open till January 14.

BUSINESS & ECONOMY

India’s April-November fiscal deficit narrows to 46% of full-year target
The centre’s fiscal deficit at the end of November came at 46.2% of the FY22 budget estimate on the back of robust revenues, official data showed.

• The deficit figures in the current financial year till November appear much better than the previous financial year when it had soared to 135.1% of the estimates mainly on account of a jump in expenditure to deal with the COVID-19 pandemic.
• In actual terms, the deficit stood at Rs 6.95 lakh crore at the end of November 2021 against the annual estimate of Rs 15.06 lakh crore, according to data released by the Controller General of Accounts (CGA).
• For the current financial year, the government expects the deficit at 6.8% of GDP or Rs 15.06 lakh crore

India Q2Fy22 current account deficit at 1.3% of GDP
India’s current account balance posted a deficit of $ 9.6 billion in the second quarter ended September 2021 (Q2Fy22), forming 1.3 per cent of the country’s gross domestic product (GDP) and reflecting a rise in overseas trade.

• The current account was in surplus $ 6.6 billion (0.9 percent of GDP) in the first quarter ended June 2021(Q1Fy22) and $ 15.3 billion (2.4 per cent of GDP) a year (Q1Fy21), said the Reserve Bank of India in a statement.
• RBI said the current account deficit (CAD) in Q2Fy22 was mainly due to widening of trade gap to $ 44.4 billion from $ 30.7 billion in the preceding quarter and an increase in net outgo of investment income.

ACQUISITIONS & MERGERS

Tech Mahindra to acquire 100% stake in Allyis India, Green Investments
It major Tech Mahindra announced that the company and its wholly-owned subsidiary viz.,Tech Mahindra (Americas) Inc. has approved the proposal to acquire 100 per cent equity shares in Allyis India Pvt Ltd and Green Investments LLC, holding company for Allyis Group, respectively.

• Tech Mahindra will pay total consideration of up to $125 million, including employment-related and performance-related earnouts, as per a regulatory update filed with the exchanges.
• Allyis India Pvt Ltd and Green Investments LLC offer technology consulting and managed services for organisations to help reduce costs, improve performance, and meet their objectives. Allyis India Pvt Ltd was incorporated in 2018 whole Green Investments LLC was incorporated in 2013.

SPORTS

Pakistan’s Mohammad Hafeez retires from international cricket
Pakistan all-rounder Mohammad Hafeez announced his retirement from international cricket bringing the curtains down on an 18-year-long career.

• Hafeez last played for Pakistan in the T20 World Cup with his last outing turning out to be the defeat to Australia in the semi-final in the UAE last year.
• Hafeez, who made his international debut in 2003, played 218 ODIs, hitting 6614 runs, including 11 hundreds and 38 fifties. He picked up 139 wickets in the 50-over format. He hit 2514 runs in 119 T20is and picked up 61 wickets.
• Hafeez had announced his retirement from Tests in 2018. He played 55 matches, scoring 3652 runs, including 10 hundreds.

APPOINTMENTS

V.S. Pathania takes over as Coast Guard Director General
V.S. Pathania took over as the 24th Director General (DG) of the Indian Coast Guard from Krishnaswamy Natarajan who retired from service.

• In a  career of over 36 years, Mr. Pathania has held several key appointments afloat and ashore and has also commanded all classes of Coast Guard ships namely Inshore Patrol Vessel ‘Ranijindan’, Offshore Patrol Vessel (OPV) ‘Vigraha’ and advanced OPV ‘Sarang’.
• He was elevated to the rank of Additional Director General in November 2019 and took over as Coast Guard Commander (Eastern Seaboard) at Visakhapatnam.

AWARDS

Dr. Jitendra Singh launches Web Portal for PM’s Excellence Award, says prize money doubled to 20 lakh rupees for awarded District or Organization
Union Minister Dr. Jitendra Singh has launched the Web Portal for PM’s Excellence Award.

• The registration for the Award began. Speaking after the launch, the Minister said, the entire concept and format of the PM’s Excellence Award has undergone a revolutionary change since 2014. PM’s Award for Excellence in Public Administration portal for the year 2021-2022 is www.pmawards.gov.in
• The Minister also added that the prize money was also doubled this year from 10 lakh rupees to 20 lakh rupees to the awarded District or Organization. He informed that it is now mandatory for all District Collectors to apply for the Award

OBITUARIES

Bollywood film producer Vijay Galani passes away
Hindi film producer Vijay Galani passed away in London due to organ failure.He was in his late 50s.

• He is known for producing films like Salman Khan’s Suryavanshi (1992), Govinda and Manisha Koirala’s Achanak (1998), Akshay Kumar’s Ajnabee (2001), Paresh Rawal and Mallika Sherawat’s Bachke Rehna Re Baba (2005), Salman Khan’s Veer (2010). His last production venture was Vidyut Jammwal and Shruti Haasan’s The Power (2021).

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