Daily Current Affairs January 29
Table of Contents
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January 29 | Daily Current Affairs 2022
Sports – Daily Current Affairs January 29
1. Ash Barty wins drought-breaking Australian title:
- Ash Barty has won the Australian Open final 6-3, 7-6 (2) over Danielle Collins to end a 44-year drought for Australian women at their home Grand Slam tournament.
- Barty won the first set with one service break but was down 5-1 in the second set after dropping serve in the second and sixth games. Collins had two chances to serve for the set but was broken both times.
- Barty dominated after taking the set to a tiebreaker, racing to a 4-0 lead.
- Barty was the first Australian woman into the singles final of the Australian Open since Wendy Turnbull in 1980 and is now the first Australian champion since Chris O’Neil in 1978.
- The 25-year-old Barty now has major titles on three surfaces, adding the hard court at Melbourne Park to her win on grass at Wimbledon last year and on clay at the French Open in 2019.
Tennis-Kuzuhara wins Australian Open junior title as opponent collapses:
- Top seed Bruno Kuzuhara won the Australian Open junior boys’ title, in an extraordinary conclusion to a marathon match that saw his Czech opponent Jakub Mensik collapse with cramp after match point and taken off court in a wheelchair.
- Mensik won a long rally to make it 30-30 at 5-6 in the third and concluding set, but he was barely able to stand following that exchange and hit two consecutive double faults to hand victory to the American, who prevailed 7-6(4) 6-7(6) 7-5 in just under four hours.
- In the girls’ singles final, Croatian top seed Petra Marcinko secured her first major title with a 7-5 6-1 win over Belgium’s Sofia Costoulas.
2. Hockey Women’s Asia Cup 2022: India beat China 2-0 to bag bronze medal:
- India women’s hockey team may not have been able to defend their Asia Cup title but Savita Punia and her team return home from Oman with a bronze medal after beating former champions China 2-0 in the third-place play-off.
- Goals from Sharmila Devi (13) and Gurjit Kaur (19) helped India beat China in a solid show in a repeat of last edition’s final at the Sultan Qaboos Sports Complex in Muscat.
- Gurjit, who played a key role in India reaching the semi-final of the Tokyo Olympics, was involved in both the goals as the Women in Blue put on a clinical performance in Muscat.
- After thrashing lowly Malaysia 9-0 in their opener, India suffered a 0-2 defeat against Asian Games champions Japan before thrashing Singapore 9-1 to qualify for the semifinals.
- But in the semifinals, some sloppy defending and poor penalty corner conversions put paid to India’s hopes as they were beaten 2-3 by Korea.
3. Brendan Taylor, former Zimbabwe captain, banned for 3 and half years for delayed reporting of spot-fixing plot:
- The International Cricket Council, January 28, banned former Zimbabwe captain Brendan Taylor for 3 and half years from all cricket for a delay in reporting of a sensational spot-fixing plot.
- 35-year-old Taylor had taken to social media earlier this month, revealing the details of the spot-fixing plot and that he would be handed a ban by the global cricket governing body.
Banking and Finance – Daily Current Affairs January 29
4. RBI imposes restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow; withdrawals capped at Rs 1 lakh:
- The Reserve Bank on Friday said it has imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals.
- The restrictions came into force from closure of business hours on January 28, 2022 (Friday).
- In a statement, RBI said the Lucknow-based co-operative bank will not, without its prior approval, grant or renew any loans and advances, or make any investment. ‘
- ‘In particular, a sum not exceeding Rs 1 lakh of the total balance across all savings bank or current accounts or any other account of a depositor, may be allowed to be withdrawn…”, subject to certain conditions, it added.
- The central bank, however, added the directions should not per se be construed as a cancellation of the banking licence by the RBI.
5. SPMCIL sets up New Bank Note Printing Lines at CNP Nashik and Bank Note Press Dewas:
- Security Printing and Minting Corporation of India Limited (SPMCIL) under its modernization initiatives has set up New Bank Note Printing Lines each at Currency Note Press, Nashik, and Bank Note Press, Dewas.
- On 27 January 2022, the inauguration of new banknote printing line at CNP Nashik was done by Smt. Meera Swarup, Special Secretary & Financial Adviser, Ministry of Finance, and for the new banknote printing line at Bank Note Press, Dewas inauguration was done by Sh. Shashank Saksena, Sr. Economic Adviser, Department of Economic Affairs, Ministry of Finance, through virtual mode in the presence of Member of Parliament Sh. Hemant Tukaram Godse from Nashik constituency; Smt. Tripti Patra Ghosh, Chairman, and Managing Director, SPMCIL; Sh. S.K. Sinha, Director (HR), SPMCIL; Sh. Vinay Kumar Singh, CVO, SPMCIL; Sh. Rajesh Bansal, Chief General Manager, BNP Dewas, and Sh. Bolewar Babu, Chief General Manager, CNP Nashik.
6. IIFL Securities partners Alphaniti:
- Fintech company Alphaniti announced a partnership with IIFL Securities to allow investors to invest and trade in stock offerings. Alphaniti aims to redefine the experience of direct investments by offering high-quality products at affordable costs by leveraging on big data, deep domain expertise and technology for both India and the US markets, across multiple asset classes, it said in a statement.
- ‘Alphagenie’ offers unbiased stock selection and unique value-added indicators like ‘the probability of success’ and ‘risk-reward score’.
- The stock recommendations cover companies across the large-, mid- and small-cap spectrum and extend over multiple time horizons, from short-term to long-term.
7. Paytm Money launches ‘Pops’ messenger to provide user-specific info on stocks, portfolio and market:
- Investment advisory platform Paytm Money, a wholly-owned subsidiary of One97 Communications Ltd, on January 27 launched Pops, an intelligent messenger service to provide user-specific information on their portfolios, stocks and market analysis.
- The updates through Pops will be “delivered in real-time and in an engaging manner to make it easy for users to leverage the information”, the company said in a press release.
- The service will also enable wealth management journey of investors by offering personalised and actionable insights, it added.
- The company has also partnered with Daily Brief, which simplifies news by parsing through multiple sources and offering key takeaways.
- Over the past couple of years, India has seen a sharp rise in investment activity with many new investors entering the financial markets. While these investors seek to learn and track their investments, there is an abundance of sources providing news, analysis, charts, and other information.
Acquisitions and Mergers – Daily Current Affairs January 29
8. Zomato picks up stake in AdOnMo, UrbanPiper; board approves incorporation of NBFC:
- In a BSE filing, Zomato said that its board has approved incorporation of a wholly-owned subsidiary as a Non-Banking Finance Company. It also stated that it is investing in two companies, AdOnMo Pvt Ltd and UrbanPiper Technology Pvt Ltd.
- In the BSE filing, the food delivery and restaurant discovery platform said it will acquire 19.48 per cent stake in ad-tech company AdOnMo Pvt Ltd for an aggregate cash consideration of ₹112.20 crore.
- It will also pick up a 5 per cent stake in B2B software platform UrbanPiper Technology Pvt Ltd for ₹37.38 crore.
Appointments – Daily Current Affairs January 29
9. Govt appoints V Anantha Nageswaran as CEA:
- Days ahead of the Economic Survey, the government appointed V Anantha Nageswaran as the Chief Economic Advisor (CEA).
- Nageswaran, an academic and former executive with Credit Suisse Group AG and Julius Baer Group, succeeds K V Subramanian, who demitted office of CEA in December 2021 after the completion of his three-year term.
- An official statement said Nageswaran assumed charge.
- His appointment comes two days ahead of the Economic Survey for 2021-22 which is expected to give growth projection of around 9 per cent for the next financial year as Asia’s third-largest economy is showing signs of recovery from the pandemic.
- The Economic Survey is scheduled to be tabled in Parliament on January 31.
- India is poised to grow as the fastest large economy in the world during the current financial year with the economy projected to grow around 9 per cent despite the pandemic.
- The economy, as per the advance estimates of the National Statistical Office (NSO), is expected to record a growth of 9.2 per cent during the current fiscal, which is a tad lower than the 9.5 per cent projected by the Reserve Bank.
- Prior to this appointment, Nageswaran has worked as an author, teacher and consultant, the Finance Ministry statement said.
- He has also been a part-time member of the Economic Advisory Council to the Prime Minister of India from 2019 to 2021, it said.
- Besides, he has taught at several business schools and institutes of management in India and in Singapore and has published extensively.
- Nageswaran holds a Post-Graduate Diploma in Management (MBA) degree from the Indian Institute of Management, Ahmedabad.
- He obtained a doctoral degree in Finance from the University of Massachusetts in 1994 for his work on the empirical behaviour of exchange rates.
- He was the Dean of the IFMR Graduate School of Business and a distinguished Visiting Professor of Economics at Krea University.
- Nageswaran helped co-found the Takshashila Institution, an independent centre for research and education in public policy and helped launch the first impact investment fund of the Aavishkaar Group in 2001.
Science and Technology – Daily Current Affairs January 29
10. TVS Credit and IIM Trichy Sign a MoU to Boost Innovation and Create Solutions for Financial Inclusion:
- India’s leading financial services provider TVS Credit Services Limited and the Indian Institute of Management Trichy (IIMT) signed a Memorandum of Understanding (MoU) to boost innovation, R&D, and collaboration for designing new solutions for promoting financial inclusion in the country.
- Being one of the fast-growing NBFCs in the country, TVS Credit’s partnership with the leading B-school, IIMT, will create an avenue to leverage the collective talent and expertise from both institutions for product development, knowledge creation and research in the areas of management and public policy.
- Under this collaboration, both organisations are creating a seamless ecosystem between industries, academia and government agencies by leveraging analytics and technology.
It aims to provide these solutions in consulting, research projects, placements, management development programmes, and case studies.
- The first beneficiaries of this initiative will be the TVS Credit employees and the students of IIMT.
- The pact holds a strong potential to revolutionise the industry at large.
- In addition, it is expected to help the NBFC sector improve resource efficiency and productivity. About TVS Credit Services Ltd.
National Affairs – Daily Current Affairs January 29
11. India, ASEAN approve digital work plan to combat use of stolen mobile handsets:
- India and ASEAN nations have jointly approved a work plan under which they will develop a system to combat use of stolen and counterfeit mobile handsets, among other things, an official statement said.
- The work plan was approved at the 2nd ASEAN Digital Ministers’ (ADGMIN) Meeting with India, held virtually.
- ADGMIN is an annual meeting of telecom ministers of 10 ASEAN (Association of South-East Asian Nations) countries — Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam — and dialogue partner countries — Australia, Canada, China, EU, India, Japan, Republic of Korea, New Zealand, Russia, UK and US.
- The telecom ministry in December 2019 had launched a portal to help people in Delhi-NCR block and trace their stolen or lost mobile phones.
- The project is backed by the Central Equipment Identity Register (CEIR) system, which was undertaken by the telecom department for addressing security, theft and other concerns including reprogramming of mobile handsets.
- During the meeting, the Minister of State for Communications Devusinh Chauhan said that information and communication technologies (ICT) enables and strengthens democratic systems and institutions through enhanced engagement between citizens and the state.
- He added that use of ICTs promote free speech, human rights and the free flow of information besides expanding citizens’ opportunities to participate in decision-making process and have potential to transform lives of people living in rural areas, the statement said.
12. Cambodia to host summit of ASEAN foreign ministers from Feb 16:
- Foreign ministers of the Association of Southeast Asian Nations (ASEAN) will meet next month to discuss humanitarian aid for Myanmar, the current chair of the grouping, Cambodia, said.
- Cambodia’s foreign minister, and ASEAN special envoy, Prak Sokhonn, is preparing for his first visit to Myanmar, the foreign ministry said in a statement.
- The grouping made a surprise move in barring the military junta from key meetings over its failure to honour a five-point ASEAN “consensus” that included ceasing hostilities and allowing dialogue.
- This month, Cambodia said the foreign ministers’ meeting, the first during its chairmanship of the 10-nation bloc, had been postponed because some ministers had expressed difficulties in attending.
13. E-portal launched in Rajasthan for registration of consumer complaints:
- Consumers in Rajasthan will now be able to register their complaints online with consumer commissions.
- Chairman of Rajasthan State Consumer Disputes Redressal Commission, Justice Banwari Lal Sharma launched the e-portal.
- Naveen Jain, Secretary, Food, Civil Supplies and Consumer Affairs Department said many facilities have been made available on the ‘e-Dakhil’ portal.
- Consumers can have facility such as e-notices, link to download the documents related to the case, VC link for hearing through video conference, facility to file written reply by the party and alerts on SMS and e-mail.
- He said that after registering themselves on the e-Dakhil portal, consumers can register their complaints online with the state commission and all the district commissions and get the fees paid online.
- The secretary informed that the e-filing portal has been developed by the National Informatics Centre (NIC) and permission has been taken from the National Consumer Commission to implement the e-filing system in the state.
14. SJVN gets LoI to supply 200MW solar power to Bihar:
- State-owned SJVN Ltd said it has got a letter of intent (LoI) for supply of 200 MW solar power to Bihar.
- The LoI has been issued after approval of tariff by Bihar Electricity Regulatory Commission (BERC). SJVN will sign a power purchase agreement soon in this regard.
- Sharma further said the tentative cost of construction and development of this project will be Rs 1,000 crore.
- The project is expected to generate 420.48 MU (million units) in the first year and its cumulative energy generation over a period of 25 years would be about 10512 MU.
- SJVN has 2550 MW of solar projects under execution in various locations.
15. FinMin allows 2 states to borrow additional Rs 7,309 cr:
- The finance ministry granted additional borrowing permission of Rs 7,309 crore to two states for undertaking stipulated power sector reforms. Rajasthan and Andhra Pradesh have been allowed to borrow additional Rs 5,186 crore and Rs 2,123 crore, respectively.
- ”Department of Expenditure has granted additional borrowing permission of Rs. 7,309 crore to two States for undertaking the stipulated reforms in the power sector,” an official statement said.
- The ministry, based on the recommendations of the 15th Finance Commission, has decided to grant additional borrowing space of up to 0.5 percent of the Gross State Domestic Product (GSDP) to the states every year for a four-year period from 2021-22 to 2024-25 based on reforms undertaken by them in the power sector.
- This will make available additional resources of more than Rs 1 lakh crore every year to the states.
- The objectives of the additional borrowing permissions are to improve the operational and economic efficiency of the sector, and promote a sustained increase in paid electricity consumption, the statement added.
- Apart from Rajasthan and Andhra Pradesh, nine states — Assam, Goa, Kerala, Manipur, Meghalaya, Odisha, Sikkim, Tamil Nadu and Uttar Pradesh — have also submitted their proposals to the Ministry of Power, which are under examination.
- Additional borrowing permission will be issued to eligible states on receipt of recommendation from the power ministry, the statement added.
16. Govt notifies Phase II of capital goods scheme:
- The government has notified the second phase of the Scheme on Enhancement of Competitiveness in the Indian Capital Goods Sector for providing assistance for common technology development and services infrastructure, with a financial outlay of Rs 1,207 crore.
- The outlay includes Budgetary support of Rs 975 crore and industry contribution of Rs 232 crore.
- The scheme was notified on January 25.
- ”The objective of Phase II of the Scheme for Enhancement of Competitiveness of the Capital Goods Sector is to expand and enlarge the impact created by Phase I pilot scheme, thereby providing greater impetus through creation of a strong and globally competitive capital goods sector that contributes at least 25 per cent to the manufacturing sector,” the Heavy Industries Ministry said in a statement.
- There are six components under the scheme.
- These include Identification of technologies through technology innovation portals; setting up of four new Advanced Centres of Excellence and augmentation of existing centres; promotion of skilling in capital goods sector; setting up of four Common Engineering Facility Centres and augmentation of existing centres.
- It also entails augmenting existing Testing and Certification Centres; and setting up of 10 industry accelerators for technology development.
17. IREDA and Goa Shipyard Ltd sign MoU for Rooftop Solar Power Projects:
- Indian Renewable Energy Development Agency, IREDA on Saturday in New Delhi signed a Memorandum of Understanding with Goa Shipyard Limited, GSL, to set-up a rooftop solar power project at GSL headquarter in Vasco da Gama, Goa.
- Under the MoU, IREDA will also extend its techno-commercial expertise to GSL for Environmental and Social due diligence of rooftop solar and other projects as per the international standards.
- These two companies are PSUs under the Ministry of New and Renewable Energy and Ministry of Defence, respectively.
18. Centre sanctions ₹104.54 cr for widening and strengthening of Musiri-Namakkal NH :
- Union Ministry of Road Transport has sanctioned a budget outlay of ₹104.54 crore for widening from 2 lane to 4 lane (with paved shoulder) and various strengthening, widening and reconstruction works in Musiri – Namakkal road (NH 381B) in Tamil Nadu, Transport Minister Nitin Gadkari tweeted.
- NH 381B is an inter-corridor highway connecting Musiri along NH-81 with Namakkal along NH-44 in western Tamil Nadu.
Over All Review
Banking and Finance
Acquisitions and Mergers
Science and Technology