Daily Current Affairs 5 February 2021 for Banking/Insurance/SSC and other related exams.
India & Bahrain join hands for Renewable Energy
India and Bahrain have agreed to forge deeper engagement in the field of renewable energy.
- The Joint Working Group in the field of Renewable Energy which held its first meeting in virtual format, underscored the importance of renewable energy to meet climate change goals.
- The two sides presented the initiatives taken, progress made and future targets set by their governments. They also discussed opportunities available in the sector.
Gujarat govt to set up Indian Institute of Skills in Gandhinagar
In Gujarat, the State Government has asked the Tata group to start the work on setting up Indian Institute of Skills- IIS. This was conveyed during a meeting between the high powered team from Tata Group and senior officials of Gujarat Government held in Gandhinagar.
- IIS is being set up by the Labour and Employment Department of Gujarat along with Tata Group at Nasmed village of Gandhinagar. The State Government has allotted around 20 acres of land for Tatas to start Indian Institute of Skills.
- The institute is being developed on a Not-for-profit Public Private Partnership mode by the Tata Group along with the state’s Labour and Employment Department.
Cabinet gives in-principle approval for 100% divestment in RINL
The Cabinet Committee on Economic Affairs (CCEA) gave in-principle approval for 100 percent divestment of Centre’s stake in Rashtriya Ispat Nigam Limited (RINL), the Department of Investment and Public Asset Management (DIPAM) said.
- As per the decision finalised by the Cabinet, the Centre would completely divest its stake from the loss-making public sector unit (PSU).
- The government has budgeted Rs 1.75 lakh crore from disinvestment in 2021-22 fiscal beginning April 1.Strategic disinvestment of BPCL, Air India, Shipping Corporation of India, Container Corporation of India, IDBI Bank, BEML, Pawan Hans, Neelachal Ispat Nigam Ltd, among others, is scheduled to be completed in 2021-22.
CM launches ‘Switch Delhi’ campaign to promote EV policy
To promote the use of electric vehicles in the Capital, Chief Minister Arvind Kejriwal launched a ‘Switch Delhi’ campaign.
- It will educate people about the benefits of electric vehicles (EV) and urge them to make a switch.
- The campaign aims at informing, encouraging, and motivating each and every person in Delhi to switch from polluting vehicles to zero-emission electric vehicles.
‘Govt to give ₹ 1 Lakh Crore additional income to farmers’: Union Minister Pradhan
The government will provide ₹ 1 lakh crore additional income to farmers that will be generated by converting waste into energy, Union Petroleum and Natural Gas Minister Dharmendra Pradhan told Rajya Sabha.
- The government have started the Gobar Dhan scheme. Cow dung, agriculture waste, city waste, forest waste, the carbon in biomass, everything will be converted into energy. In a few days, the heap of waste at Ghazipur will be cleaned up. The energy that will make from that are going to give additional income of ₹1 lakh crore in the accounts of farmers.
- He said the government has come up with a scheme to procure ethanol worth ₹20,000 crore which will help increase farmer’s income.
BANKING & FINANCE
RBI keeps repo rate unchanged at 4%, pegs GDP growth at 10.5%
The Reserve Bank of India (RBI) decided to keep key lending rates unchanged for fourth time in a row, in its February policy review meeting. While, it projected gross domestic product (GDP) to grow at a rate of 10.5 per cent for the financial year 2021-22, on the back of recovery in economic activities.
- The six-member monetary policy committee (MPC), headed by governor Shaktikanta Das, kept repo rate unchanged at 4 per cent, while maintaining accommodative stance .
- Consequently, the reverse repo rate will also continue to earn 3.35 per cent for banks.
- The MPC has been mandated by the government to maintain retail inflation at 4 per cent with a margin of 2 per cent on either side.
- In addition, Das said that RBI will allow retail investors to directly access G-sec market. With this India joins select countries allowing such arrangements.
2.3 billion transactions worth Rs 4.2 trillion recorded through UPI in January 2021
As many as 2.3 billion transactions worth Rs 4.2 trillion were recorded through Unified Payment Interface in the month of January this year, NITI Aayog CEO Amitabh Kant said.
- The Unified Payment Interface’s transaction value jumped 76.5 per cent; while transaction value jumped nearly 100 per cent.
- First one billion UPI transactions per month took 3 years to cross but the next billion had come in less than a year.
BUSINESS & ECONOMY
Reliance receives world’s first ‘carbon-neutral’ oil from US
Billionaire Mukesh Ambani’s Reliance Industries Ltd has sourced the world’s first consignment of ‘carbon-neutral oil’ from the US as it looks to become a net zero-carbon company by 2035.
- Reliance, which operates the world’s largest single-location oil refining complex at Jamnagar in Gujarat with capacity of 68.2 million tonnes a year, got 2 million barrels of consignment Permian basin.
- The Very Large Crude Carrier (VLCC) Sea Pearl containing the carbon-neutral oil unloaded the cargo at Jamnagar.This transaction is a first step in the creation of a new market for climate-differentiated crude oil.
Serum Institute of India, UNICEF Enter into Long-term Supply for COVID-19 Vaccines
The Serum Institute of India (SII) and UNICEF have entered into a long-term supply agreement for the AstraZeneca/Oxford and the Novavax vaccines, with the UN children’s agency saying it will have access to up to 1.1 billion doses of vaccines for around 100 countries.
- India is one of the world’s biggest drugmakers, and an increasing number of countries have already approached it for procuring coronavirus vaccines.
- While Oxford-AstraZeneca’s Covishield is being manufactured by Pune-based Serum Institute, and the Novavax is being produced by US-based Novavax Inc.
- This is great value for COVAX donors and a strong demonstration of one of the fundamental principles of COVAX – that by pooling our resources we can negotiate in bulk for the best possible deals.
Praveen Sinha apointed as Interim Director Of CBI
Gujarat cadre IPS officer Praveen Sinha, currently Additional Director of the CBI, was appointed as its interim chief as current chief R.K Shukla’s two-year tenure ended.
- Mr. Sinha, a 1988 batch Gujarat cadre IPS, to take over as the CBI’s interim chief till the appointment of a regulator director.
Kashmir’s 25-yr-old Ayesha Aziz becomes India’s youngest female pilot
Ayesha Aziz, the 25 -year-old from Kashmir who is the youngest female pilot in the country acts is a source of inspiration and a beacon of empowerment for numerous Kashmiri women.
- In the year 2011, Aziz became the youngest student pilot to get a license at the age of 15 and underwent training to fly a MIG-29 jet at Russia’s Sokol airbase the following year.
SCIENCE & TECHNOLOGY
Navy’s Ilyushin 38SD Aircraft Fires Anti-Ship Missiles during Exercise
The Indian Navy’s Long Range Maritime Reconnaissance aircraft Ilyushin 38SD successfully fired Combat Kh35E anti-ship missiles during the ongoing Theatre level Readiness and Operational Exercise 2021 (TROPEX-21).
- TROPEX 21 is aimed at testing combat readiness of the Navy along with the assets of the Air Force, Army and Coast Guard in a “complex multi-dimensional exercise set in the context of the current geo-strategic environment”.
Pakistan test fires Ghaznavi Ballistic Missile
Pakistan successfully test-fired a nuclear-capable surface-to-surface ballistic missile named Ghaznavi which can strike targets up to 290 kilometres.
- The launch of Ghaznavi missile was “culmination of Annual Field Training Exercise of Army Strategic Forces Command.
- The training launch was witnessed by Commander Army Strategic Forces Command Lt Gen Muhammad Ali, senior officers from Strategic Plans Division, Army Strategic Forces Command, Scientists and Engineers of the strategic organizations.
Andhra SEC launches ‘e – watch’ app designed to receive gram panchayat elections related complaints
State Election Commissioner N. Ramesh Kumar launched ‘e-Watch’, a mobile application and a call centre to help curb malpractices during the gram panchayat elections.
- The App will be available on Google PlayStore from February 4 for lodging complaints of enticements and other objectionable actions.
- It was intended to ensure transparency in the gram panchayat election process, thereby instilling confidence in the public that the commission was wary of the scope for malpractices and it would take necessary action on those vitiating the elections.