Daily Current Affairs February 16

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February 16 | Daily Current Affairs 2022

Obituary – Daily Current Affairs February 16

1. Karnataka’s Samanvaya Kavi Nadoja Channaveera Kanavi passes away:

• Nadoja Channaveera Kanavi has passed away in Dharwad in North Karnataka, at 93.
• Popularly known as Samanvaya Kavi or the poet of reconciliation.

Honours:

• The Central Sahitya Akademi has honoured him with the Akademi award for his collection of poems Jeevadhwani in 1982.
• He is also honoured with the Karnataka Sahitya Akademi Award, Karnataka Rajyotsava Award, Pampa Award and Nadoja honorary D.Litt by Hampi Kannada.

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2. ‘Disco king’ BappiLahiri dies at 69:

• Singer-composer Bappi Lahiri, who Popularized disco music in Indian cinema in the 80s and 90s, has died following multiple health issues.

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Banking and Finance – Daily Current Affairs February 16

3. KVB, UNANU Technologies tie-up for digital freight finance:

• KarurVysya Bank has joined hands with the Chennai-based UNANU Technologies for digital freight finance to fund transport contractors.
• UNANU has built the Freight Financing System within their suite of software platforms.
• Using the module “U-Turbo – a marketplace”, can on-board logistics companies & shippers to Freight Financing programme.

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4. Canara HSBC OBC Life Insurance launches Flexi Edge:

• Canara HSBC Oriental Bank of Commerce Life Insurance has launched “Flexi Edge” a non-linked participating individual savings life insurance plan
• Provides life cover to the policyholder in the unfortunate event of the death.
• The plan offers customers the flexibility to choose from three options depending on their individualistic requirements:
  1. Flexi Savings is a basic savings structure to serve various needs of the customer and offers lump sum benefit equal to 100% of sum assured, loyalty additions and accrued bonuses at end of the policy term
  2. The policy offers a lump sum benefit equal to 50% of the sum assured at the end of premium payment term.

• The plan offers cash bonus every year from end of the 2nd policy year till end of the policy term (100-age at entry).

• Additionally, the policyholder will receive a lump sum benefit equal to 100% of Sum Assured and bonuses at end of the Policy Term.

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Business and Economy – Daily Current Affairs February 16

5. Vedanta signs up with Foxconn to manufacture semiconductors in India:

• Anil Agarwal-led Vedanta and Hon Hai Technology Group (also known as Foxconn) have formed a joint venture (JV) to manufacture semiconductors in India.
• This is the first JV in the electronics manufacturing space after the PLI policy.
• The Vedanta Group had in January shared its intent to invest $15 billion for making displays and semiconductor chips in India over the coming 5 years.
• It had acquired AvanStrate, a Japanese glass substrate manufacturer in December 2017 from the Carlyle Group.

REMARKS:

• In Dec 2021, Centre had cleared a PLI scheme for semiconductor & display board production, targeting an investment of Rs 76,000 crore over the next 5 to 6 years.

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6. Bank of Baroda signs MoU with Assam Rifles to provide ‘Central Forces Salary Package’:

• It will offer the Baroda Central Forces Salary Package to all personnel of the Assam Rifles, both serving and retired.
• It will also provide special benefits, including Personal Accident Insurance and a co-branded credit card.
• BoB will offer services such as free unlimited transactions at all Bank ATMs, free remittance services – NEFT/ RTGS online or through branch, free debit card, free unlimited demand draft facilities, 50 % discount on locker rentals, 100 % waiver on Demat annual maintenance charges and 75 % waiver on issuance charges for Gift and Travel cards.
• Assam Rifles: Country’s oldest paramilitary force.

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Appointments – Daily Current Affairs February 16

7. Vineet Joshi appointed as new CBSE chairman, replaces IAS Manoj Ahuja:

• Vineet Joshi, Additional Secretary, Department of Higher Education, has been appointed as new chairman of Central Board of Secondary Education(CBSE).
• He has replaced IAS Manoj Ahuja, was appointed as CBSE’s chairman on May 12, 2020.
• Vineet Joshi: Is an IAS officer, Manipur 1992 batch and he is also the governing body member of National Testing Agency.
• Manoj Ahuja: Also served as Special Director, Lal Bahadur Shastri National Academy of Administration, Mussoorie.
• He is a 1990 batch IAS officer of Odisha cadre civil servant.
• CBSE: Is the national level education board of India and administered by GoI.
• More than 25, 000 schools all across India and approx 240 schools in 28 foreign countries are affiliated to CBSE.

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International Affairs – Daily Current Affairs February 16

8. India – Maldives hold 3rd ‘Defence Cooperation Dialogue:

• Indian Defence Secretary Ajay Kumar co-chaired ‘3rd India Maldives Defence Cooperation Dialogue’ with Chief of Defence Force (CDF) of Maldives National Defence Force Major General Abdulla Shamaal.
• During the visit to the Maldives, Defence Secretary hold a meeting with Minister of Defence MariyaDidi.

India’s Assistance to Maldives:

• Ajay Kumar inaugurated the Composite Training Center Phase-I Annex built with Indian grant assistance in Maldives & handed over the refitted CGS Huravee – a made-in-India patrol vessel.
• India supported for MNDF, with more than 170 medical evacuations & 130 surveillance missions conducted in the past couple of years.
• ‘Coast Guard Dockyard’ project, which is set to be the most comprehensive defence infrastructure development project carried out in the
• Development cooperation has been an imperative pillar of the Indo-Maldives relationship with India providing Lines of Credit of over USD 1.2 billion (1 bn = Rs 100 crore) for infrastructure and grants for community development projects.
• Maldives: Is one of India’s key maritime neighbours in the Indian Ocean Region and the bilateral defence and security ties have been on an upward trajectory in the last few years.

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9. Bangladesh: Prime Minister Sheikh Hasina inaugurates Ekushey Book Fair 2022:

• The largest book fair of Bangladesh Amar EkusheyBoiMela was inaugurated by Prime Minister Sheikh Hasina.
• The fair is being held in Dhaka at the Bangla Academy premises and the adjoining Suhrawardy Udyan.
• Hasina also gave the literary award ‘Bangla Academy SahityaPuraskar 2021’ to 15 recipients under 11 categories.
• On behalf of the Prime Minister, State Minister for Cultural Affairs KM Khalid handed over cheques of Taka 3 lakh, a crest and a certificate to the awardees.
• More than 770 stalls have been set up across the two venues of the book fair.
• The book fair is currently scheduled to continue till Feb 28, might be extended till March 17 to coincide with the birth anniversary of Bangabandhu Sheikh Mujibur Rahman.

REMARKS:

• The month-long book fair started in 1972 to commemorate the sacrifices of people killed by Pakistani forces on 21 February 1952 demanding Bangla as the mother language for the then East Pakistan.
• It has been organised every year by the Bangla Academy since 1978.

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National Affairs – Daily Current Affairs February 16

10.SarbanandaSonowal flags off maiden voyage of shipment of steel from Haldia to Pandu through the Indo Bangladesh Protocol Route (IBP Route):

• Union Minister of Ports, Shipping & Waterways SarbanandaSonowal, flagged off the maiden voyage of barges with a consignment of 1798 MT of finished steel products of Tata Steel Limited.
• From Haldia to Pandu (in Assam) through the Indo-Bangladesh Protocol Route (IBP Route).
• The consignment of steel products, has arrived at Haldia Dock Complex through the Railway mode; loaded onto barges [Db Abdul Kalam And Db Kalpana Chawla chartered by SMPK] at berth no. 11 operated by TMILL who have organized movement of the cargo and loading at their berth.
• The barges will be flagged off and will move from Haldia to IWAI Pandu terminal in Assam.
• The barges will move along NW-I – Indo-Bangladesh Protocol Route – NW-II. In the return leg, the barges will load coal provided by Fuel Sources India Pvt. Ltd.
• where LSC Solutions is providing ground logistic support along with last mile delivery, and is destined for unloading at SMPK, Kolkata.
• To improve the connectivity through waterways, Ministry of Ports, Shipping & Waterways (MoPSW) has taken up several infrastructure projects on National Waterways-1, Indo-Bangladesh Protocol Route and NW-2 (River Brahmaputra) through the Inland Waterways Authority of India (IWAI).

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11. 4-day MedaramJatara begins in Telangana, 1.25 crore footfall expected:

• Telangana’s MedaramJatara, Asia’s largest tribal fair celebrated over 4 days every two years, at Medaram village of Mulugu district.
• Over 1.25 crore people are expected to congregate at the village to celebrate the valour of Adivasi icons Sammakka and Sarakka (Protectors of the community).
• The fair will culminate on February 19.

History:

• About 8 centuries ago, tribal king Medaraju ruled the habitations along river Godavari, failed to pay a royalty to the Kakatiya kings of the region due to severe drought.
• This was taken as defiance to the Kakatiya rulers who invaded the land leading to the death of Medaraju and his daughters Sammakka and Sarakka in the fight.
• The Adivasi community believes that both Sammakka and Sarakka turned into caskets of vermillion and while the former was found near a bamboo grove on a hillock, the latter was found at Kannepalli village, 4 km away from Medaram.
• Once in two years, the tribals offer prayers at the bamboo grove and bring back a casket of vermillion and bamboo sticks wrapped in red cloth, symbolising the return of Sammakka and Sarakka.
• Both are placed under an Indian elm tree at Medaram village to begin the four-day festivities, after which they are returned to the forest.
• During the festivities, the tribals offer jaggery equal to their own weight as a replacement of gold.
• They also offer cut pieces of red cloth, vermillion and turmeric to the deities.

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12. Power and NRE Minister chairs 4th India – Australia Energy Dialogue:

• 4^th India – Australia Energy Dialogue was held on 15th February, 2022. The dialogue was co-chaired by Power Minister R.K. Singh(Indian side) & Angus Taylor (Australian side).
• The focus of this LoI will be scaling up manufacture and deployment of ultra low-cost solar and clean hydrogen.
• The Co-chairs of the 5 Joint Working Groups under the India – Australia Energy Dialogue viz,
  • Power
  • New & Renewable Energy
  • Coal & Mines
  • Critical Minerals
  • Oil & Gas
• Apart from the power sector, Reducing costs of Green Hydrogen; cooperation in sphere of coal-based energy security and resource deployment; investment opportunities in the minerals sector; exploring potential for an LNG Partnership, among other areas.

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13. PM Modi to deliver inaugural address at The Energy and Resources Institute’s World Sustainable Development Summit:

• PM Modi will deliver the inaugural address at The Energy and Resources Institute’s (TERI) World Sustainable Development Summit.
• The summit is TERI’s annual flagship event.
• Theme: ‘Towards a Resilient Planet: Ensuring a Sustainable and Equitable Future.
• The 3-day summit starting will be attended by President of  Dominican Republic, Luis Abinader, President of Guyana, Dr.Irfaan Ali, Deputy Secretary-General of United Nations, Amina J Mohammed & envoys from more than a dozen countries & delegates from over 120 countries.

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14. Cabinet approves setting up of G20 Secretariat and reporting structures:

• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the setting up of a G20 Secretariat.
• India will hold the Presidency of the G20 from 1 December 2022 to 30 November 2023, culminating with the G20 Summit in India in 2023.

REMARKS:

• As per practice, a G20 Secretariat is being established to handle work relating to substantive / knowledge / content, technical, media, security and logistical aspects of India’s G20 Presidency.
• It will be manned by officers and staff from the Ministry of External Affairs, Ministry of Finance, and other relevant line Ministries / Departments and domain knowledge experts. The Secretariat will be functional till February 2024.
• The Secretariat will be guided by an Apex Committee headed by Prime Minister, and comprising Finance Minister, Home Minister, External Affairs Minister, and G20 Sherpa (Commerce & Industry, Textiles, Consumer Affairs, Food and Public Distribution Minister), to provide overall guidance to India’s G20 Presidency.
• A Coordination Committee will also be set up to oversee all G20 preparations and report to the Apex Committee.

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15. NITI Aayog and PhonePe to launch Fintech Open Hackathon:

• NITI Aayog in association with PhonePe will be hosting the first-ever open-to-all Hackathon event for ideating and coming up with the most creative solutions for the FinTech space.
• Participants at the hackathon need to use any open-data APIs like PhonePe Pulse along with frameworks such as Account Aggregator as a foundation to power the following use cases:
• Alternate risk models for Lending, Insurance or Investments with focus on financial Inclusion.
• Innovative Products that use the power data signals for various demographics and Geos for broader adoption of financial services.
• Improved Visualisation and Derived intelligence based on the Digital payments data.
• The final app that participants come up with must incorporate one of the above.
• Participating teams can have one 1 (solo) to 5 participants.
• The top 5 hacks will be awarded a prize money in the following denominations:
  1. 1st place: INR 1,50,000 for the team – 1 prize
  2. 2nd place: INR 1,00,000 for the team – 2 prizes
  3. 3rd place: INR 75,000 for the team – 2 prizes.

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Over All Review

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