Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of  the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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February 24 | Daily Current Affairs 2021

BANKING AND FINANCE

1. The Asian Development Bank is working with the government of Bangladesh for providing a how much amount assistance to purchase COVID-19 vaccine?
A) USD 920 million
B) USD 930 million
C) USD 940 million
D) USD 950 million
E) USD 960 million
Answer: C) USD 940 million

• The Asian Development Bank (ADB) is working with the government of Bangladesh for providing a USD 940 million assistance to purchase COVID-19 vaccine.

Asian Development Bank:
Member Countries: 68
Founded Year: 1966
Headquarters: Manila, Philippines
Head: Masatsugu Asakawa

Bangladesh:
Capital: Dhaka
Currency: Bangladeshi Taka
President: Mohammad Abdul Hamid
Prime Minister: Sheikh Hasina

ADB – USD 940 million assistance for Bangladesh COVID vaccination programme.

2. Which Insurance company launched a new annuity pension plan with deferred annuity option?
A) Bajaj Allianz Life Insurance
B) Aegon Life Insurance
C) SBI General Insurance
D) Bharti AXA Life Insurance
E) Care Life Insurance
Answer: A) Bajaj Allianz Life Insurance

• Private life insurer Bajaj Allianz Life on February 24 launched its annuity (pension) plan, Bajaj Allianz Life Guaranteed Pension Goal.
• The plan offers nine annuity options to choose from.
• It is the only life insurance plan that offers a regular premium-deferred annuity option.
• This option enables policyholders to guarantee their pension amount at the time of retirement by paying regularly over a period of time.
• Additionally, the plan also offers an option for policyholders’ spouse to continue receiving the guaranteed income during his or her lifetime. Further a legacy can be left for the nominees by ensuring the Return of Purchase Price (RoP).
• Bajaj Allianz Life Guaranteed Pension Goal enables policyholders to opt for immediate regular income through an immediate annuity plan or start the income later through the deferred annuity plans.
• The plan is designed to help people secure their retirement income for life.
• There is a premium payment term of 5-10 years along with a single premium option.

Bajaj Allianz Life Insurance:
Hq: Pune, Maharashtra
MD & CEO: Tarun Chugh

Bajaj Allianz Life Insurance – Pension plan with deferred annuity option.

3. Which Bank partners with Greater Chennai Corporation and Chennai Smart City Limited to launch ‘Namma Chennai Smart Card’?
A) CSB Bank
B) IndusInd Bank
C) Bandhan Bank
D) HDFC Bank
E) ICICI Bank
Answer: E) ICICI Bank

• ICICI Bank announced the launch of a Common Payment Card System (CPCS) in partnership with the Greater Chennai Corporation (GCC) and Chennai Smart City Limited (CSCL) to provide citizens a one-stop solution for making various kind of payments within the city and beyond called ‘Namma Chennai Smart Card’, the Rupay powered co-branded, contactless prepaid card, will facilitate various digital payments like tax and utility bill payments at the GCC centres.
• Additionally, the prepaid card facilitates retail payments within Chennai as well as in retail stores and e-commerce websites across the country.

ICICI Bank:
Headquarters: Mumbai, Maharashtra
MD & CEO: SandeepBakshi
Tagline: Hum Hai Na, KhayalApka

ICICI Bank + Greater Chennai Corporation + Chennai Smart City Limited – Launch ‘Namma Chennai Smart Card’.

BUSINESS AND ECONOMY

4. Which company is teaming up with Google Cloud to develop integrated solutions for communication service providers to accelerate 5G deployment across multiple network and edge locations?
A) Bajaj
B) HP
C) Microsoft
D) Ola
E) Intel
Answer: E) Intel

• Intel is teaming up with Google Cloud to develop integrated solutions for communication service providers to accelerate 5G deployment across multiple network and edge locations.
• The partnership focuses on accelerating the ability of communications service providers to deploy their virtualised Radio Access Network (RAN) and open RAN solutions with next-generation infrastructure and hardware.
• Other areas that the partnership focuses on include launching new lab environments to help communications service providers innovate for cloud native-based 5G networks and making it easier for communications service providers to deliver business applications to the network edge.

Intel + Google Cloud – Accelerate 5G deployment.

5. Essar Power to set up 90 MW solar plant in which state for Rs 300 cr?
A) Madhya Pradesh
B) Andhra Pradesh
C) Mizoram
D) Uttar Pradesh
E) Nagaland
Answer: A) Madhya Pradesh

• Ruia-family run Essar Power Ltd will foray into renewable energy, setting up a 90 MW solar plant in Madhya Pradesh at an investment of Rs 300 crore.
• The fund has overseen the completion of the deleveraging program of investee companies in the next two quarters.
• It intends to repay the balance debt Rs 10,000 crore which is largely in the power portfolio.
• The proposed power plant is a solar photovoltaic project to be set up in Bhander, in the Datia district of Madhya Pradesh across 105 hectares of land and will be executed in two parts – 33.7 MW and 56.17 MW.
• Electricity generated from this plant will be evacuated at 132 kV level and is proposed to be connected to the Bhander substation, which is located at approximately 5 km and will be supplied to industrial consumers within Madhya Pradesh.
• The project is expected to be completed by June 2022. Essar Power has a current operating capacity is around 3,185 MW.
• EGFL has invested about Rs 32,000 crore in the power portfolio including 12000 crore of equity.
• It has also invested in the transmission business by constructing a 465 km interstate transmission system, which spans three states.
• The other two businesses of the fund’s energy portfolio are also making impressive progress both in India and the UK. Essar Oil Exploration and Production Ltd (EOGEPL) is the country’s largest unconventional energy player.

Essar Group:
Founded: 1969
Headquarters: Mumbai, Maharashtra
Chairman : Shashi Ruia

Essar Power – Set up 90 MW solar plant in MP for Rs 300 cr.

BOOKS AND AUTHORS

6. “State of Terror” is authored by whom?
A) Hillary Rodham Clinton
B) Michel Rodham Clinton
C) Varun Rodham Clinton
D) Joe Rodham Clinton
E) John Rodham Clinton
Answer: A) Hillary Rodham Clinton

• Former US First Lady Hillary Rodham Clinton and her long-time friend Louise Penny will come out with a novel “State of Terror” which will be published on October 12 by Pan Macmillan India.
• The story follows a novice Secretary of State who has joined the administration of her rival, a president inaugurated after four years of American leadership that shrank from the world stage.
• Bride of the Forest: the Untold Story of Yayati’s Daughter Madhavi S Mahadevan’s latest novel “Bride of the Forest: the Untold Story of Yayati’s Daughter” plucks as its heroine a little known character from mythology.

State of Terror – Hillary Rodham Clinton + Louise Penny (Author) – published by Pan Macmillan India.

APPOINTMENTS

7. Who is appointed as Brand Ambassador of Levi’s?
A) Katrina Kaif
B) Kareena Kapoor Khan
C) Deepika Padukone
D) Shraddha Kapoor
E) Kangana Ranaut
Answer: C) Deepika Padukone

Deepika Padukone – Brand Ambassador of Levi’s.

SCIENCE AND TECHNOLOGY

8. Which IIT has developed a materials technology that would make cookstoves using LPG, biogas and kerosene energy-efficient, economical and eco-friendly?
A) IIT Bombay
B) IIT Mandi
C) IIT Guwahati
D) IIT Hyderabad
E) IIT Madras
Answer: C) IIT Guwahati

• Researchers at the Indian Institute of Technology (IIT) Guwahati have developed a materials technology that would make cookstoves using LPG, biogas and kerosene energy-efficient, economical and eco-friendly.
• Burners made using porous medium combustion (PMC) technology, developed by the IIT team led by P Muthukumar, Professor of mechanical engineering, can help cut fuel use by up to 25 per cent and reduce emissions of carbon monoxide (CO) and nitrogen oxide (NOx) between 80 to 89 per cent, depending upon the fuel used.
• Under a research funded by the Department of Science and Technology and Ministry of Human Resources Development, the researchers developed porous radiant burners for various cookstoves using the technology.

IIT Guwahati – Energy-efficient cookstove burner technology.

INTERNATIONAL AFFAIRS

9. Which organization has introduced a “no-fault compensation” programme on Covid-19 vaccines?
A) UNESCO
B) UNEP
C) UNDP
D) UNICEF
E) WHO
Answer: E) WHO

• The World Health Organisation has introduced a “no-fault compensation” programme on Covid-19 vaccines.
• This is the first and only global vaccine injury compensation mechanism, the WHO said about the programme that makes compensation available to eligible individuals in 92 low- and middle-income countries without the need to resort to law courts. India, too, falls in this bracket.
• The WHO has signed an agreement with a Chubb Limited company – ESIS Inc – towards this. And the programme would be funded by a small levy on each dose supported by the vaccine alliance, Gavi COVAX AMC (Advance Market Commitment).

WHO:
HQ: Geneva, Switzerland
Head: Dr Tedros Adhanom Ghebreyesus

WHO – ‘no-fault compensation’ programme on Covid-19 vaccines.

10. Which country hosted the first meeting of BRICS Finance and the central bank deputies under chairmanship?
A) UAE
B) Saudi Arabia
C) Russia
D) Australia
E) India
Answer: E) India

• India hosted the first meeting of BRICS Finance and the central bank deputies under its chairship.
• The meeting, which was held virtually, was co-chaired by Tarun Bajaj, secretary, department of economic affairs, ministry of finance and Dr. Michael Patra, deputy governor, Reserve Bank of India (RBI).
• At the meeting, India shared the priorities of the financial cooperation agenda and also the issues to be discussed in the year 2021.
• The issues include global economic outlook and response to Covid-19, social infrastructure financing and use of digital technologies, New Development Bank (NDB) activities, Fintech for SME and financial inclusion, BRICS Contingent Reserve Arrangement (CRA), among others.
• India assumed its chairship for BRICS in 2021, the year in which BRICS is celebrating its 15th anniversary. “Under the theme BRICS@15: Intra-BRICS Cooperation, India’s approach is focused on strengthening collaboration through Continuity, Consolidation and Consensus.
• Other participants of the meeting included BRICS Finance and central bank deputies of Brazil, Russia, China and South Africa

India – Host 1st meeting of BRICS Financial Cooperation under its chairship.

NATIONAL AFFAIRS

11. Cochin Port will sign how many MoUs worth Rs 2,825 crore at the second Maritime India Summit 2021?
A) 9
B) 8
C) 4
D) 6
E) 3
Answer: A) 9

• Cochin Port will sign nine MoUs worth Rs 2,825 crore at the second Maritime India Summit 2021 to be held held on March 2-4.
• These MoUs will be majorly signed between Fertilisers and Chemicals Travancore Limited (FACT); Kottayam Port & ICD Services; IOCL; IGTPL; etc.
• The MoUs will be signed in the areas like dredging for maintenance of channels and basins, coastal connectivity, cargo handling, tourism related projects, aviation fuel terminal, deepening and widening of port channels, etc.
• These MoUs are focused on attracting investment, skilling, and generating employment in the sector.

Cochin Port – Sign MoUs worth Rs 2,825 cr at Maritime India Summit 2021.

12. President Ram Nath Kovind inaugurated the world’s largest cricket arena in which place?
A) Chennai
B) Pune
C) Thane
D) Ahmedabad
E) New Delhi
Answer: D) Ahmedabad

• President Ram Nath Kovind inaugurated the world’s largest cricket arena here, the refurbished Sardar Patel Stadium, which will now be known as Narendra Modi stadium renamed after the country’s Prime Minister.
• The state-of-the-art facility can accommodate an awe-inspiring 1.32 lakh spectators.
• The President inaugurated the stadium in the presence of Home Minister Amit Shah and Sports Minister Kiren Rijiju among a host of other dignitaries.
• The President also performed the ground-breaking ceremony for a sports complex in the stadium, to be named Sardar Patel sports complex, for disciplines like football, hockey, basketball, kabbadi, boxing, and lawn tennis among others.

President Ram Nath Kovind – Inaugurate world’s largest cricket arena; Sardar Patel stadium renamed to Narendra Modi stadium.

13. Which anniversary of Pradhan Mantri Kisan Samman Nidhi, PM KISAN
in February 24?
A) 5
B) 4
C) 3
D) 2
E) 1
Answer: D)2

• February 24 is the second anniversary of Pradhan Mantri Kisan Samman Nidhi, PM KISAN. The Scheme was formally launched on 24th February in the year 2019 by
  Prime Minister Narendra Modi at a function at Gorakhpur in Uttar Pradesh.

Awards to States/ UTs:

 

Awards to Districts:

About the Scheme:

• The Pradhan MantriKisanSammanNidhi (PM-KISAN) Scheme was launched on 24th February, 2019 with a view to providing income support to all landholding Small and Marginal farmers’ (SMF) families across the country, to enable them to take care of expenses related to agriculture and allied activities as well as domestic needs.
• The Scheme, effective from 1.12.2018, aims to provide a payment of Rs. 6000 per year for the farmers’ families with cultivable land holding up to 2 hectares, subject to certain exclusions.
• The financial benefit of Rs.6000 is being released by the Central Government in three 4-monthly instalments of Rs. 2000/- over the year directly into the bank accounts of the eligible farmers under Direct Benefit Transfer mode.
• The cut-off date for the identification of beneficiaries with regard to their eligibility is 01-02-2019.
• The entire responsibility of identification of beneficiary’s rests with the State/UT Governments.
• An exclusive web-portal www.pmkisan.gov.in has been launched for the Scheme.
• The financial benefits are released to the beneficiaries on the basis of the data of farmers prepared and uploaded by them on the PM-KISAN web-portal.
• Beneficiaries are entitled to their benefit from the 4-monthly period in which their name is uploaded by the State Nodal Officer (SNO) in the PM-KISAN Portal.
• The PM-KISAN Scheme is being implemented with continuous improvements/changes in the shape, modalities and mechanism of the Scheme with the progress of its implementation and its performance over time.
• Due to the overwhelming response from the farming community, the mandate of the Scheme was further extended to cover all farmers irrespective of the size of their landholding and subject to the prevailing exclusion criteria.
• The revised Scheme is effective from 01-04-2019.

February 24 – NDA government’s flagship programme PM KISAN completes
two years.

14. Who announced the setting up of a national asset monetization pipeline worth ₹2.5 trillion in line with the national infrastructure pipeline?
A) Smriti Irani
B) S Jaishankar
C) Nirmala Sitharaman
D) Ramnath Kovind
E) Narendra Modi
Answer: E) Narendra Modi

• Prime minister Narendra Modi announced the setting up of a national asset monetization pipeline for the sale of 100 assets of central public sector enterprises (CPSEs) worth ₹2.5 trillion in line with the national infrastructure pipeline.
• Addressing a webinar of investment bankers, sovereign wealth fund managers and experts on privatization and asset monetization, Modi said it is not necessary or possible for the government to remain the owner of so many CPSEs and government should rather focus on public welfare.
• Government has set an ambitious disinvestment target of ₹1.75 trillion for FY22 after failing to complete any big-ticket privatization in FY21 due to the disruptions caused by the covid pandemic.
• For FY21, it has pared down its target to ₹32,000 crore from ₹2.1 trillion estimated in the Budget.

Govt – Set up national asset monetization pipeline for sale of CPSE assets.

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