Category: Current Affairs

NATIONAL NEWS 

India-Japan to hold Joint Military Exercise

 EX DHARMA GUARDIAN-2022, a joint military exercise, will be held between India and Japan in Karnataka from February 27 to March 10, 2022. Exercise DHARMA GUARDIAN is an annual training event that is being conducted in India since 2018. Notably, India has undertaken military exercises with various countries. The exercise to be held between India and Japan will also be crucial and significant in terms of security challenges that are faced by both nations in the backdrop current situation. The exercise will enhance the level of defense cooperation between the Indian Army and Japanese Ground Self Defence Forces.

Government launches MSME RuPay Credit Card

Narayan Rane, the Union Minister for MSME, has announced the establishment of the MSME-technology center at Sindhudurg. He also launched MSME RuPay Credit Card. The center will be set up at Sindhudurg at a cost of Rs. 200 crores. It will enhance the competitiveness of the MSME industries. The center will also provide advisory support for technology as well as its intuition by enhancing the employment potential of the unemployed youth in the area of those industries.

India establishes 4 locations in Poland, Hungary, Romania, Slovak Republic for Indian citizens evacuation

 Amid Russia’s military operations in Ukraine, the External Affairs Ministry has established 4 locations in Poland, Hungary, the Slovak Republic, and Romania for the evacuation of the Indian citizens. Reportedly, the Government of India will also arrange evacuation flights for the Indian Nationals in Ukraine. On February 24, India had sent teams to the land borders with Ukraine in Poland, Hungary, Slovak Republic, and Romania to assist the evacuation of the Indian Nationals. Indian Embassy in Kiev had also sent an advisory informing the stranded Indian Nationals in Ukraine that the government has been working to evacuate them through Hungary and Romania.

Russia & Ukraine war Will Impact on India

Russia declared war on Ukraine on February 24th with the announcement of a military operation in the neighboring country. India imports more than 80 percent of its oil requiremen. The worrisome part is that the Russia Ukraine war can lead to rising in oil prices which will further pose risk to India’s rising inflation.

National War Memorial’s 3rd Anniversary

National War Memorial’s 3rd anniversary was observed on February 25, 2022. The National War Memorial is India’s first war memorial built to honour all the soldiers who fought in armed conflicts of independent India. The Amar Jawan Jyoti flame was merged with the eternal flame at the National War Memorial on January 21, 2022.

INTERNATIONAL NEWS 

NATO alliance to hold an emergency summit to discuss Ukraine crisis

The North Atlantic Treaty Organisation (NATO) will hold a virtual emergency summit on February 25, 2022, to discuss the way forward amid the Ukraine crisis. NATO is a 30-nation alliance. The emergency summit will be joined by the leaders of Finland, Sweden, and the European Union Institutions. In a press briefing earlier, the Secretary-General of NATO had said that NATO will take new deterrence and defence steps after Russia launched a military operation against Ukraine. The defense steps against Russia will include putting over 100 warplanes on high alert and further increasing the presence of troops on its easter flank.

Sally Kellerman, ‘Star Trek’, ‘MASH’ actor passes away at 84

An award-nominated star Sally Kellerman passed away at the age of 84. The news of her demise was confirmed by her manager and publicist Alan Eichler. Sally Kellerman who was a film and television star was best known for her role as Major Margaret ‘Hot Lips’ Houlihan in the classic 1970 film ‘MASH’. The film netted her an Academy Award nomination for Best Actress in a Supporting role. Kellerman, with a career spanning more than 60 years, appeared in the TV Shows including the original pilot for ‘Star Trek’ in 1966, ‘The Outer Limits’, ‘I Spy’, among others. Sally Kellerman is survived by daughter Claire, son Jack and her mother-in-law Lorraine Krane.

Why did Russia take over Chernobyl?

Russian forces have taken control over the Chernobyl nuclear power plant,  as per adviser to the Ukrainian presidential office, Mykhailo Podolyak. Chernobyl was the site of the world’s worst nuclear disaster in 1986 when one of the reactors exploded.  It is not exactly clear why Russia has captured Chernobyl but the nuclear power plant opens a direct way to Ukrainian capital Kyiv.

Map of Russia & Ukraine Conflict

Ukraine has been living under the fear of war with Russia for over eight years, ever since the annexation of Crimea in 2014. The Russia-Ukraine conflict is long running, as Russia claims Ukraine to be a part of its country and is dead against Ukraine’s growing closeness to the West. Both Russia and Ukraine were part of the 15 Republics that made up the USSR before its dissolution in 1991. 

NATIONAL NEWS 

Government informs Rs. 18,000 crores returned to banks in Nirav Modi, Vijay Mallya and Mehul Choksi cases

The Government of India informed Supreme Court that Rs. 18,000 crores have been returned to the banks in Nirav Modi, Vijay Mallya and Mehul Choksi cases. Solicitor General Tushar Mehta, while representing the Government, submitted before the apex court that the total proceeds of crimes in PMLA cases pending before the court amounts to Rs. 67,000 crores. He added that as of date 4700 cases are being investigated by the Enforcement Directorate. The apex court was hearing a bunch of petitions, challenging the wide scope of powers available to the Enforcement Directorate for seizure, search, attachment and investigation of proceeds of crime.

Prime Minister Modi to hold a meeting today on Ukraine Crisis

Prime Minister Modi will meet the Union Finance Minister Nirmala Sitharaman as well as other officials in the evening on February 24, 2022, to discuss the economic impact of the Russia-Ukraine crisis. The officials will also discuss ways to mitigate the impact of rising crude oil prices. The Russian army has fired missiles in Ukraine after President Putin authorized a military operation in Ukraine. Finance Minister also said that she will be meeting Prime Minister Modi to discuss the situation arising out of the ongoing Russia-Ukraine crisis. Markets have been rattled by recent Russia’s attack on Ukraine. The 30-share benchmark Sensex has crashed over 2,700 points amid the Ukraine invasion. Earlier, the Indian embassy in Ukraine had informed us about the special flights arranged to pick up Indian Nationals were cancelled as Ukraine’s airspace was closed.

India wants peace to prevail: Defence Minister Rajnath Singh

The Union Defence Minister Rajnath Singh while talking about the ongoing Russia-Ukraine crisis has said that India wants peace to prevail and no situation that will promote war should arise. He further added that the Indian Government has been taking all the measures to bring its citizens back to India. Amid the closure of the Ukrainian airspace, the Indian embassy in Ukraine had said that alternative arrangements are being made for the evacuation of the Indian citizens.

Indian Army gets new aircraft systems for surveillance

The Indian Army said on February 23, 2022, that it has acquired mini remotely piloted aircraft systems. It will further enhance its surveillance capabilities in high-altitude areas. The Indian Army has been focusing on cranking up its surveillance mechanism along LAC with China as part of a broad strategy. Indian Army via a tweet informed that the new aircraft systems for surveillance have been acquired as part of the ongoing modernization and induction of niche & emerging technologies at the tactical level. Indian Army has initiated a number of measures to bolster its surveillance mechanism along the Line of Actual Control after the Eastern Ladakh standoff.

INTERNATIONAL NEWS 

What are the Economic Sanctions against Russia?

US President announced new sanctions against Russia on February 22nd and called Russia’s move in eastern Ukraine the ‘beginning of a Russian invasion. US President Joe Biden announced that the US will be implementing full blocking sanctions on the two large Russian financial institutions: VEB and their military bank.

What is NATO? How many Countries are in NATO?

NATO is a military alliance that was formed by 12 countries including the US, UK and Canada in 1949. It was formed to counter the threat by the Soviet Union post the Second World War. The NATO alliance has a total of 30 member countries and under its collective security system, an armed attack on one member state will be considered as an armed attack on all.

Russia destroys Ukraine’s Airbases

Russian President Vladimir Putin announced a special military operation early on February 24, 2022. Ukraine said later that a full-scale invasion by Russia is underway. Russia informed that it has destroyed Ukraine’s air bases and air defences. 

NATIONAL NEWS

IAF to participate in Cobra Warrior 2022

The Indian Air Force will participate in the multi-nation air exercise called ‘Ex Cobra Warrior 22’ at Royal Air Force Base in Waddington, United Kingdom. India will be sending five indigenous LCA Tejas fighter aircraft to participate in the exercise and a C-17 aircraft will provide transport support.

UP Elections 2022 phase 4 polls underway, Check Key Constituencies

The fourth phase of UP Elections 2022 is currently underway in 59 assembly constituencies across nine districts. The key constituencies that have gone to polls under this phase include Lakhimpur Kheri, Lucknow Cantonment, Rae Bareli, Hardoi and Sarojini Nagar. A total of 624 candidates are in the fray this time. 

Sanjeev Sanyal appointed as a Economic Advisory Council to PM

Sanjeev Sanyal, a noted economist and historian has been inducted as a full-time member of the Economic Advisory Council to the Prime Minister. He will serve at the position for a term of two years. The EAC-PM is an independent body constituted by the Government of India. The body mainly advises the Prime Minister on economic and various other related issues.

Malayalam actor KPAC Lalitha passes away

Deeply loved and popular Malayalam actor KPAC Lalitha passed away sadly on February 22, 2022. She had been battling a liver-related ailment for a long time.  The veteran actor starred in over 550 films in Malayalam and Tamil in a career spanning five decades.

Health Minister released Harvard Report on India’s vaccination program

Health Minister Dr. Mansukh Mandaviya released a Harvard study report on India’s COVID vaccination program. The Union Minister on the occasion stated that these reports will help fellow citizens as well as the world to understand India’s vaccination journey and the fight against the pandemic. He also added that the reflection of Prime Minister Modi’s strong leadership and visionary vision is clearly visible in the report.

INTERNATIONAL NEWS 

Hong Kong orders compulsory testing of 7.5 million citizens

The Government of Hong Kong has ordered the compulsory testing of all of its 7.5 million citizens as the city battles a surge in COVID infections. Chief Executive Carrie Lam stated that the residents of Hong Kong will have to undergo three rounds of tests which will start in mid-March. She added that the coming one to three months are crucial in fighting the pandemic and the worsening situation has exceeded the government’s ability to tackle it. In between the compulsory tests, residents will be required to conduct daily rapid antigen tests. Experts have also warned that a huge population can be in isolation.

Kenya citizens stage protest against food inflation

Kenya citizens have staged an online protest about the high cost of living in the country which is facing a high spike in the cost of basic commodities. Kenyans, using the hashtag #lowerfoodprices, have criticized the government for failing to control the prices of everyday items. Food inflation in Kenya in January stood at 9% which meant that Kenyans struggled to put food on the table. Many citizens also shared their shopping lists, explaining how the prices of basic food items had sparked sharply in recent months.

US President announces fresh sanctions against Russia

US President Joe Biden announced new sanctions against Russia on February 22, 2022 and called Russia’s move in eastern Ukraine the ‘beginning of a Russian invasion’. The US will be implementing full blocking sanctions on the two large Russian financial institutions-VEB and their military bank. Besides this, the US has also cut off the Russian government from western funding.

Russia expresses hope that the India-Russia partnership will continue

Roman Babushkin, Deputy Chief of Mission of the Russian Embassy in India expressed hope that the India-Russia partnership will continue at the same level as it is currently. He added that both the countries have a lot of big projects in the pipeline and showed confidence that all the plans will be successfully implemented. While briefing media on the sanctions against Russia and their impact on relations with India, he mentioned the outcomes of the recent Russian-Indian bilateral summit. Babushkin also added that both India and Russia have signed a program of 10 years of cooperation in defense area on the sidelines of the summit.

NATIONAL NEWS 

A special flight of Air India departs to bring Indians back from Ukraine

The special flight of Air India, owned by the Tata Group, will take back the Indian Nationals, including the students, who registered for the safe return from Ukraine. An official of Air India informed that the first special flight of Air India (AI-1946) out of the three to be operated from Ukraine to India will fly tonight with the Indian Nationals. Earlier, Air India had announced that a total of three flights will operate from Ukraine to India for the Indian Nationals amid the state of war in Ukraine. India in the special meeting of the UN Security Council emphasized the need for all sides to come up with mutually amicable solutions.

Batter Richa Ghosh registers the fastest fifty in ODIs

Indian batter Richa Ghosh has registered the fastest fifty by an Indian batter in women’s ODI cricket. Richa achieved the feat in the ongoing fourth ODI between India and New Zealand. She brought up her fifty off just 26 balls with the help of 4s and four 6s. The ongoing fourth ODI between India and New Zealand was curtailed to 20 over per side after the rain. Richa Ghosh departed from the match after playing a knock of 52 runs.

59 constituencies in fourth phase to go to polls in UP tomorrow

The polling for the fourth phase of UP elections will be held in 59 constituencies on February 23, 2022. The fate of the total 624 candidates contesting in the fourth phase of UP elections will be sealed tomorrow. The 59 assembly seats in UP are spread across the districts of Lakhimpur, Pilibhit, Kheri, Sitapur, Unnao, Hardoi, Rae Bareli, Lucknow, Fatehpur, and Banda. Lakhimpur Kheri captured the limelight after eight people, including four farmers, were killed after being mowed down by a vehicle during a protest.

Government inaugurates projects reflecting Buddhist linkages with East Asian countries and ASEAN

The Ministry of External Affairs celebrated Azadi ka Amrit Mahotsav by inaugurating the projects that Buddhists linkages with ASEAN and East Asian countries. Books of Jataka Tales translated into Thai, Vietnamese, Korean and Chinese languages were unveiled by the dignitaries. Along with it, a comprehensive video of the e-ITEC course by the Ministry on Buddhist Teachings was also shown. The External Affairs Ministry also presented an interactive template for the use by Missions for Orientation visits by the college or school students to the Cultural centers. Azadi ka Amrit Mahotsav is an initiative of the Indian Government to celebrate and commemorate 75 years of progressive India.

INTERNATIONAL NEWS 

New Zealand remembers victims in 2011 earthquake

The second-largest city of New Zealand, Christchurch on February 22 marked the 11^th anniversary of a violent and destructive earthquake that claimed the lives of 185 people spanning more than 20 nationalities. The mayor of Christchurch laid a wreath on behalf of Christchurch at the base of the Canterbury Earthquake National Memorial in the city center. Among the earthquake victims of 2011 were 24 Chinese students. Following a disaster, the Government of China dispatched a 10-person search and rescue team.

Taliban faces resistance in Afghanistan’s Bamiyan

The officials of the Taliban alleged that they are facing renewed resistance from some groups in Bamiyan Province in Central Afghanistan. A number of Bamiyan residents have been criticizing the persecution of the people by the Talibani forces. Taliban official has asked the people of Bamiyan to work with them so that the security of the region is not compromised. Reportedly, there has also been an increased resistance against the Taliban regime in the provinces of Kapisa, Panjshir, and Parwan. The officials have maintained that they will counter the activities of the resistance.

Praggnanandhaa beats World No. 1 Carlsen in online Chess tournament

Rameshbabu Praggnanandhaa, a 16-year old Indian Grandmaster has defeated the World Champion Magnus Carlsen of Norway in the eighth round of the Airthings Masters online rapid Chess tournament. Both Praggnanandhaa and Carlsen had a rough start in the event.

Australia Reopens Borders to Foreign Tourists

Australia has reopened its borders for fully vaccinated international tourists from February 21, 2022, after almost two years. The nation will now allow foreign tourists on one condition that they must be fully vaccinated. The latest decision has ended one of the world’s strictest and longest travel restrictions imposed during the COVID-19 pandemic.

NASA to retire International Space Station in January 2031

The National Aeronautics and Space Administration has announced that the International Space Station (ISS) will cease its functioning by 2031. At the end of 2030, the low-Earth orbit will see the last of the International Space Station as the floating laboratory will cease the operations and swoop down the Earth.

NATIONAL NEWS

TransUnion tieup Ficci for MSME consumer education programme

TransUnion CIBIL has partnered with the Federation of Indian Chambers of Commerce & Industry (FICCI) to launch a unique nationwide MSME consumer education program to support MSME. This program will kick off with MSME clusters in Maharashtra, Assam and Tripura and aims to reach thousands of MSMEs across key MSME clusters in India. The program objective is to empower MSMEs with knowledge on how to build a good credit history and CIBIL Rank to avail easier and faster access to finance. TransUnion CIBIL is committed to supporting banks and credit institutions in the sustainable growth of their MSME portfolios while improving reach and driving access to finance for MSMEs. In addition to offering MSME lenders solutions like CIBIL Rank and commercial credit reports for astute lending, TransUnion CIBIL also publishes insights reports like the MSME Pulse in association with SIDBI and the recent Emergency Credit Line Guarantee Scheme (ECLGS) analysis report to support policymakers and the industry with market insights on the MSME sector.

Hurun India Wealth Report: India’s millionaire households rose 11% in 2021

According to the latest Hurun India Wealth Report 2021, the number of dollar-millionaire households in India increased by 11 per cent to 4,58,000 households in 2021, as compared to 2020. A household having a net worth of at least INR 7 crore ($1 million), is referred to as a dollar-millionaire household. The report has estimated that the number of dollar-millionaire households in the country shall increase by 30% over the next five years to reach 6,00,000 households in 2026. Meanwhile, in the list of cities with the most millionaires, Mumbai has topped with 20,300 millionaires households. Mumbai is followed by Delhi with 17,400 and Kolkata with 10,500 millionaire households, respectively. The report is based on the survey on 350 Indian ‘millionaires’ (individuals with a personal wealth of $1 million).

Indian businesses rank 5th in their concern for climate change

As per the ‘Deloitte 2022 CxO Sustainability Report: The Disconnect Between Ambition and Impact’, Indian businesses rank 5th in their concern for climate change. According to the report, 80 per cent of Indian executives see the world at a tipping point for responding to climate change compared with just 53 per cent eight months ago. The report was released by Deloitte Touche Tohmatsu Limited (DTTL). DTTL is also known as Deloitte Global. The Deloitte survey, done across 21 countries during September-October 2021, has found a higher number of top-level executives in India responding to the issue of climate change compared to the survey conducted in January-February 2021.

GoI to launch ‘Meri Policy Mere Hath’ to deliver crop insurance policies

Ministry of Agriculture & Farmers Welfare will launch ‘Meri Policy Mere Hath’ which is a doorstep distribution drive to deliver crop insurance policies to farmers under the Pradhan Mantri Fasal Bima Yojana (PMFBY). The campaign aims to ensure all farmers are aware with all information on their policies, land records, the process of claim and grievance redressal under PMFBY. A flagship scheme of the Government of India, PMFBY aims to provide financial support to farmers suffering crop loss/damage arising out of natural calamities. Over 36 crore farmer applications have been insured under PMFBY, with over INR 1,07,059 crores of claims have already being paid under the scheme as of 4th February 2022.

SBI, PNB, BoB, UBI, Canara Bank and BoM acquires stake in IDRCL

State Bank of India (SBI), Punjab National Bank (PNB), Bank of Baroda (BoB), Union Bank of India (UBI), Canara Bank, and Bank of Maharashtra (BoM) have announced their subscription to the shares of India Debt Resolution Company Ltd (IDRCL). Public Sector Banks (PSBs) and Public Fis will hold a maximum of 49% in stake of IDRCL while the remaining stake will be with private-sector lenders. The NARCL has been incorporated under the Companies Act, and public sector banks will hold 51 per cent in NARCL. The stakes acquired by these banks is given in the table below. The Banks will further reduce their stake in IDRCL. 

INTERNATIONAL NEWS 

Former CEO of SriLankan Airlines Vipula Gunatilleka appointed CFO

Vipula Gunatilleka, the former CEO of SriLankan Airlines has been appointed as the chief financial officer (CFO) of the grounded Jet Airways. Vipula Gunatilleka was serving as the CEO of Sri Lankan airways till January 2022. He will join Jet Airways at a new position officially from March 1, 2022.

Two Ukraine separatist regions as independent

The President of Russia Vladimir Putin has announced the recognition of two separatist republics in eastern Ukraine – Donetsk, and Lugansk – as independent. He announced his latest decision through a televised address on February 21, 2022. US President Joe Biden also spoke with Ukrainian President Volodymyr Zelenskyy and reaffirmed the commitment of the United States to Ukraine’s sovereignty and territorial integrity.