daily current affairs - coaching for cat, bank, gate, gmat

Daily Current Affairs

United States threatens to reimpose sanctions against Myanmar in view of military coup

The United States has threatened to reimpose sanctions against Myanmar in view of the seizure of

power by the military and detention of the Aung San Suu Kyi and other leaders of the civilian

government. President Biden said that it will necessitate an immediate review of US sanction laws

followed by appropriate action.

President Biden called the developments in Myanmar as a ‘direct assault on the country’s transition

to democracy and the rule of law’. He called upon the international community to press the Myanmar

military to immediately relinquish power and release the activists and officials.

Moscow court sends Navalny to prison

A Moscow court had sentenced Kremlin critic Alexei Navalny to more than two years in prison despite

nationwide protests and a Western outcry. The decision to turn a 2014 suspended sentence into real

jail time will see Mr. Navalny, who accuses the Kremlin of poisoning him last year, serve a lengthy

prison term.


NASA appoints Indian-American scientist Bhavya Lal as acting chief of staff

Indian-American Bhavya Lal was appointed by NASA as the acting chief of staff of the US space agency.

In a statement, NASA said Lal brings extensive experience in engineering and space technology, serving

as a member of the research staff at the Institute for Defence Analyses Science and Technology Policy

Institute (STPI) from 2005 to 2020.

Biden set to review Trump policies

U.S. President Joe Biden, who has begun his second full week in office, will sign executive orders

reviewing and in some cases rescinding his predecessor Donald Trump’s policies. These will include

the establishment of a task force to unite minor children who had been separated from their parents

at the southern border during the Trump administration, actions to address migration via the southern

border and orders regarding legal migration, which could impact Indian citizens seeking work visas to

the U.S.


U.K. variant mutation causes concern

The U.K. has reported a key mutation in the coronavirus variant called B.1.1.7, or the ‘U.K. variant,

that studies say makes it more infectious, better equipped to thwart immune systems and slightly

reduce the potency of vaccines. The mutation, called E484K, has been reported previously in South

Africa in a coronavirus lineage called B.1.135. In an analysis of 2,14,159 cases, 11 had shown the new

mutation. This mutation has, however, not shown to be linked to increased severity of disease.

Sputnik V vaccine shows 91.6% efficacy

An interim analysis of a Phase-3 trial of Russia’s Sputnik V vaccine against COVID-19 shows the vaccine

is safe and has 91.6% efficacy. The 91.6% efficacy was seen 21 days after the first dose. Although the

study was not designed to assess the efficacy of a single dose regimen, the researchers observed a

possible partial protective effect of a single dose. Storage at 2-8°C, a favourable temperature profile

for global distribution, has been approved by Russia’s Health Ministry.

The Phase-3 trial between September 7 and November 24, 2020 in about 20,000 participants carried

out in Moscow at 25 sites found the vaccine was safe.


World Bank to provide USD 500 million to Bangladesh for improving Road and Digital Connectivity

The government of Bangladesh signed a $500 million financing agreement to help Upgrade the

Jashore-Jhenaidah highway and improve the connecting rural roads and markets that will benefit over

20 million people living in the western region. The Western Economic Corridor and Regional

Enhancement (WeCARE) Program Phase I project will help upgrade the 48 KM two-lane Jashore-

Jhenaidah road to a modern 4-lane highway. The project will also help rehabilitate about 600 km

connecting rural roads, and build new or develop existing rural markets.

China yet to give any assurance on Anastasia crew change as humanitarian crisis deepens

Fate of 16 Indian sailors on cargo ship MV Anastasia remains in the balance as China has again denied

to give any assurance on the crew change for the ship which is on anchorage near Caofeidian port in

northern China since 20th September. Sixteen Indian crew members on the ship are undergoing

immense mental and physical sufferings with not even timely medical aid being provided to them by

the local Chinese authorities.


Govt said, there has been consistent decline in LWE violence and its geographical spread across

country

The Union Government said that there has been a consistent decline in Left Wing Extremism violence

and its geographical spread across the country. In a written reply in Lok Sabha, Minister of State for

Home G Kishan Reddy said that incidents of LWE violence have reduced by 70 per cent from an all

time high of 2,258 in 2009 to 665 in 2020. He said, resultant deaths of civilians and security forces

have reduced by 80 per cent from an all-time high of 1,005 in 2010 to 183 in 2020.

NBCFDC signs MoU with Apollo Medskills Pvt Ltd for providing COVID Vaccine Administration

training

The National Backward Classes Finance and Development Corporation (NBCFDC) has signed an MoU

with Apollo Medskills Private Ltd for providing COVID Vaccination Administration training to Nurses,

Medical and Nursing students and Pharmacists belonging to its target group on a co-funding basis. The

programme has been sanctioned with the aim of Up-Skilling the competency level of the health care

workers as well contributing to the national programme of vaccination under progress.

The Corporation has sanctioned training programmes for 1,000 trainees in the State of Bihar, Delhi,

Telangana, Tamil Nadu and Uttar Pradesh, which are expected to be commenced in due course.


137 gigawatt of renewable energy capacity installed in country, says RK Singh

The New and Renewable Energy Ministry said that around 137 gigawatt of renewable energy capacity

has been installed in the country which is 36.48 per cent of the total installed electricity generation

capacity in the country. In a written reply in the Rajya Sabha, Minister of State for New and Renewable

Energy, RK Singh said, the government has taken several steps to promote renewable energy in the

country.

Prime Minister to inaugurate Chauri Chaura Centenary Celebrations on Feb 4

Prime Minister Narendra Modi will inaugurate the Chauri Chaura Centenary Celebrations at Chauri

Chaura, Gorakhpur, Uttar Pradesh on Thursday through video conferencing. The day marks 100 years

of the Chauri Chaura incident, a landmark event in the country’s fight for independence. The Prime

Minister will also release a postal stamp dedicated to the Chauri Chaura centenary during the event.


340 deaths due to manual scavenging

The Social Justice and Empowerment Ministry told the Lok Sabha, in response to a question about

manual scavengers, that 340 people had died while cleaning sewers and septic tanks in the past five

years. Uttar Pradesh with 52 deaths, Tamil Nadu (43) and Delhi (36) topped the list. Maharashtra

recorded 34 deaths. Under the “Prohibition of Employment as Manual Scavengers and their

Rehabilitation Rules, 2013” the employer who engages the workers for cleaning sewers/septic tanks

is obliged to provide the safety gear, devices and ensure safety precautions as prescribed in the Rules.

Agricultural credit target enhanced to 16.5 lakh crore rupees in the next fiscal

To provide adequate credit to farmers, the government has enhanced the agricultural credit target to

16.5 lakh crore rupees in next fiscal with focus on ensuring increased credit flows to animal husbandry,

dairy, and fisheries. Government has also enhanced the allocation to the Rural Infrastructure

Development Fund from 30,000 to 40,000 crore rupees. It has enlarged the scope of Operation Green

Scheme to include 22 perishable products besides tomatoes, onions, and potatoes. Government has

also decided to integrate 1,000 more mandis with e-NAM to ensure transparency and competitiveness

in the agricultural market. The Agriculture Infrastructure Fund will be made available to APMCs for

augmenting their infrastructure facilities.


LIC IPO likely after October, BPCL, AI stake sale by Sept.

The initial public offering (IPO) of India’s largest insurance company LIC is likely after October this year,

a top official said laying out the government’s divestment calendar that includes completing the sale

of flag carrier Air India and oil firm BPCL within the first half of the next fiscal.

Targeting a fund raise of Rs. 1.75 lakh crore from the asset sale to finance projects aimed at reviving

the pandemic-battered economy, the government is also looking to sell Shipping Corporation of India

(SCI), IDBI Bank and two other public sector lenders in the fiscal year beginning April 1.

HDFC logs Rs. 2,926 crore third-quarter net profit

Housing Development Finance Corporation Ltd. (HDFC) reported third-quarter net profit of Rs. 2,926

crore. The mortgage lender had posted a profit of Rs. 8,372 crore in the year-earlier period, which

included a fair value gain of Rs. 9,020 crore following the merger of GRUH Finance with Bandhan Bank. Net interest income (NII) rose 26% to Rs. 4,068 crore. As at December 31, loans worth Rs. 5,010 crore

were being restructured under the RBI’s Resolution Framework for COVID-19 Related Stress.


IOB, 2 others may exit PCA by March

The Finance Ministry expects the remaining three public sector banks (PSBs) to be out of the RBI’s

prompt corrective action (PCA) framework in two months, as their financial health has improved.

Indian Overseas Bank, Central Bank of India and UCO Bank are currently under this framework which

puts several restrictions on them, including on lending, management compensation and directors’

fees. For FY21, Rs. 20,000 crore had been allocated as capital for PSBs. With Rs. 5,500 crore going to

Punjab & Sind Bank, the Centre is left with Rs. 14,500 crore.

TMB profit surges 96% on lower provisions

Tamilnad Mercantile Bank Ltd.’s (TMB) reported standalone net profit for the third quarter ended

December rose 96% to Rs. 181 crore on lower provisioning. Net interest income increased to ₹429

crore (₹339 crore) and total income to ₹1,083 crore (₹999 crore). The bank could go for an IPO in 9-

12 months.


Exports rise 5.37%, trade gap narrows

According to provisional data from the Commerce Ministry, India’s exports grew 5.37% to $27.24

billion in January 2021 from a year earlier, mainly driven by the pharmaceutical and engineering

sectors. The trade deficit narrowed to $14.75 billion from $15.3 billion in January 2020. It was $15.44

billion in December 2020. Imports rose 2% to $42 billion. Pharma and engineering exports grew 16.4%

($293 million), and about 19% ($1.16 billion), respectively. Sectors that saw healthy growth include oil

meals (253%), iron ore (108.7%) and tobacco (26.2%).

RBI picks firm to audit HDFC Bank’s IT infra

HDFC Bank said that the Reserve Bank of India (RBI) had appointed an external IT firm for carrying out

a special audit of IT infrastructure of the bank under Section 30 (1-B) of the Banking Regulation Act,

1949 in the aftermath of repeated service outages.


Indian Oil to monetise pipeline assets

State-owned Indian Oil Corporation (IOC) is likely to sell stakes in one or two of its vast network of

crude oil and petroleum product pipelines in the country under the asset-monetisation plan, but won’t

give up control, its director (finance) Sandeep Kumar Gupta said. Mr. Gupta said IOC’s pipeline assets

offer huge potential for unlocking value and a lot of investors are looking at investing in such assets.

Ocugen, Bharat Biotech in pact to take Covaxin to US

Ocugen and Bharat Biotech have entered into a definitive agreement to co-develop, supply and

commercialise Covaxin for the U.S. market. Ocugen will have U.S. rights to the vaccine candidate. It

will be responsible for clinical development, regulatory approval, including EUA and commercialisation

for the U.S. market. Initial doses, for use in the U.S., will be supplied by the Indian vaccine maker.


ICC nominates Rishabh Pant and two others for Men's Player of the Month award

India's wicketkeeper-batsman Rishabh Pant has been nominated for the ICC Men's Player of the

Month award along with England skipper Joe Root and Ireland's Paul Stirling. The International Cricket

Council announced the nominees for the inaugural Player of the Month Awards which will recognise

and celebrate the best performances from both male and female cricketers across all forms of

international cricket throughout the year.

Ashok Dinda Announces Retirement From All Forms Of Cricket

Indian bowler Ashok Dinda announced retirement from all formats of the game. The pacer

represented India in 13 ODIs and nine T20Is, picking 12 and 17 wickets respectively. Dinda, who made

his First Class debut for Bengal in 2005, led the state team’s attack with distinction for several seasons

and took 420 wickets, including 26 five-wicket hauls, in 116 First Class matches. He claimed 151

wickets apiece in List A and T20.


New Zealand makes it to World Test Championship final

New Zealand became the first team to reach the final of the inaugural World Test Championship after

Australia’s away series against South Africa was postponed due to the COVID-19 pandemic. New

Zealand’s percentage points of 70 sealed it a spot in the final, and for all practical purposes, the series

between India and England will decide the opponent for Kane Williamson’s men. Australia postponed

its tour of South Africa next month citing “unacceptable health and safety risk” in that country because

of a fresh COVID-19 outbreak, a decision that virtually knocks the Aussies out of contention from the

final later this year.

daily current affairs - coaching for cat, bank, gate, gmat

Documents