JANUARY-2021 - Vedic GK Solutions

JANUARY-2021

WORLD

1. SPAIN AND FRANCE TO BUILD EUROPE’S LARGEST SOLAR POWER PLANT

Iberdola of Spain and Donone of France have recently signed an agreement to build 590 MW of solar
power plant at a cost of 364 million USD. This will be the largest solar power plant in Europe and is to be
located in the western province of Caceres located in Spain. The solar power plant will avoid emission of
245,000 tonnes of Carbon Dioxide. It is to supply power to 375,000 people per year.

2. NUCLEAR DEAL VIOLATION BY IRAN

Iran has resumed enriching uranium up to 20% in violation of the 2015 nuclear deal and also seized a
South Korean-flagged tanker near the crucial Strait of Hormuz. Meanwhile, the USA has decided to keep
nuclear powered aircraft carrier Nimitz in the Gulf region in the wake of threats from Iran.

**In 2015, Iran with the P5+1 group of world powers - the USA, UK, France, China, Russia, and Germany
agreed on a long-term deal on its nuclear programme known as Iran nuclear deal or Joint Comprehensive
Plan of Action (JCPOA) . Under the deal, Iran agreed to curb its nuclear activity in return for the lifting of
sanctions and access to global trade. In May 2018, the USA abandoned the deal criticizing it as flawed and
reinstated and tightened its sanctions.

3. SOLIDARITY AND STABILITY DEAL: GULF COUNTRIES

Gulf States has recently signed a ‘solidarity and stability’ deal at the 41st Gulf Cooperation Council (GCC)
summit held in Al Ula, Saudi Arabia. This is to remove all the sanctions over Qatar and re-open their land,
sea and air borders to Qatar. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE are the members of
GCC.

4. THE GRAND RENAISSANCE DAM

The Grand Renaissance Dam is being constructed by Ethiopia on the river Nile. Ethiopia, Sudan and Egypt
have recently agreed to resume negotiations to resolve their decade-long complex dispute over the Grand
Renaissance Dam hydropower project in the Horn of Africa. This 145-meter-tall (475-foot-tall)
hydropower project, started by Ethiopia is the cause of conflict. Given the dam’s location on the Blue Nile
tributary, it would allow Ethiopia to gain control of the flow of the river’s waters.

5. CALLS TO INVOKE 25TH CONSTITUTIONAL AMENDMENT AFTER THE UNITED STATES CAPITOL
PROTESTS

The 25th Constitutional amendment of U.S’ Constitution lays out how a US President or a Vice President
can be replaced or succeeded. It includes provisions to resolve issues revolving around unfortunate
situations like death, resignation to removal of US President and actions to be followed after a President
becomes disabled to such a degree that he is unable to fulfil his responsibilities.

6. UN RIGHTS BODY ELECTS FIJI IN FIRST-EVER PRESIDENTIAL VOTE

The UN Human Rights Council elected Fiji’s ambassador, Nazhat Shameem Khan, who has also served as
the council’s vice president in 2020, as its 2021 president in an unprecedented secret ballot after a
diplomatic stand-off blocked the usual consensus decision.

7. INDONESIAN JETLINER CRASHES INTO THE SEA AFTER TAKEOFF

A passenger plane of Indonesia’s Sriwijaya Air carrying 62 people on board crashed into waters off Jakarta.
The Boeing 737-500 was on an estimated 90-minute flight from Jakarta to Pontianak, capital of West
Kalimantan province on Indonesia’s Borneo Island.

8. US DESIGNATES UAE, BAHRAIN AS ‘MAJOR STRATEGIC PARTNERS’

Kayleigh McEnany, the White House Press Secretary announced that United States has recently
designated the Kingdom of Bahrain and the United Arab Emirates (UAE) as the “major strategic partners”
of the country.

Designation as strategic partners will strengthen the existing partnership between the United States, the
Kingdom of Bahrain, and the United Arab Emirates.

9. MALALA YOUSAFZAI SCHOLARSHIP

The US Congress recently passed the Malala Yousafzai scholarship act. The act will expand the number of
scholarships been awarded to the Pakistani women to receive higher education top

10. US NAMES CUBA AS STATE SPONSOR OF TERRORISM

The United States recently designated Cuba as a state sponsor of terrorism again after being removed in
2015. The United States lists the countries that repeatedly provide support for acts of international
terrorism under the State Sponsors of Terrorism. The list was first released in 1979.

The United States can place Restrictions on US foreign assistance, Ban on Defence exports and sales,
Controls over exports of dual use items and Miscellaneous financial and other restrictions

11. UAE’S NEW CITIZENSHIP POLICY

The United Arab Emirates (UAE) government has planned to offer citizenship to a select group of
foreigners with the aim of attracting the talent to the UAE in order to boost the growth. The UAE has thus
become the first Gulf Arab nation that formalized the process of giving expatriates a bigger stake in the
economy.

12. WORLD’S LARGEST CURRENT ACCOUNT SURPLUS: CHINA

As per a survey by the Munich-based Ifo institute, China overtook Germany to become the country with
the world’s largest current account surplus in the year 2020. The current account surplus of China more
than doubled to $310 billion in 2020, while the current account surplus of Germany shrank for the fifth
year in a row in 2020 to $261 billion.

The United States remained the country with the world’s largest current account deficit which rose
roughly by a third to $635 billion in 2020 or 3.1% of economic output. Japan ranked third with a current
account surplus of $158 billion.

13. UK AND JAPAN’s COLLABORATION FOR THE LONGOPS PROJECT

The scientists from Japan and UK will develop new and safe technologies to dismantle old nuclear facilities
such as the Fukushima that were severely damaged by tsunamis and earthquakes. The project will use
long-reach robotic arms and hence is called “LongOps Project”. The project will reduce the risks to human
health and will speed up decommissioning of nuclear reactors that are non-operational.

14. 14 BN USD FOR GREAT GREEN WALL INITIATIVE

The Great Green Wall for Sahel and Sahara Initiative recently received 14 billion USD funds at the recent
One Planet Summit for Biodiversity. The funding will be used to restore degraded land, strengthen
resilience, create green jobs and protect biodiversity. It aims to transform the lives of 100 million Africans
by growing 8,000 kilo metre long and fifteen kilo metre wide mosaic of trees, vegetation, grasslands, and
plants. World Bank, African Development Bank and Government of France are its Investors.

15. IRAN AND 6 OTHERS LOSES VOTING RIGHTS IN UNGA

Iran along with Niger, South Sudan, Zimbabwe, Congo Brazzaville, Central African Republic and Libya have
lost their voting rights in the United Nations General Assembly as they had not paid their dues. On the
other hand, three other countries such as Comoros, Somalia, Sao Tome and Principe will be allowed to
vote despite of their missing dues. The actions of suspending the members from voting has been taken
under Article 19 of the United Nations Charter.

16. RUSSIA WITHDRAWS FROM OPEN SKIES TREATY

Russia recently announced that it is withdrawing from the “Open Skies Treaty” signed in 1992. The treaty
was signed between NATO (Non-Atlantic Treaty Organization) members and the former Warsaw Pact
countries. In 2002, more than 35 countries had signed the treaty. This included US and Russia as well but
India is not a signatory of the Open Skies Treaty. The treaty allows the signatories to carry out unarmed
surveillance flights over each other’s territories.

NATIONAL

1. NEW TRANS-FAT LEVELS FOR INDIA

The Food Safety and Standards Authority of India (FSSAI) announced that all edible refined oils, vegetable
fat spreads, Vanaspati, margarines, Bakery shortening and mixed fat spreads can contain only 3% or less
Trans-fats. This is to be implemented by January 2021. By January 2022, this is to be further reduced to
2%.Consumption of Trans-fats results in heart diseases, and India has the highest burden of heart diseases
due to high trans-fat in the world.

This is being introduced because the World Health Organization has called for global elimination of Trans-
fat by 2023.

2. GO AHEAD FOR COVISHIELD

The expert panel sent COVISHIELD vaccine for approval by the Drugs Controller General of India. The
committee also recommended COVAXIN for restricted use in an emergency situation subject to multiple
regulatory conditions. The Subject Expert Committee operates under the Central Drugs Standard Control
Organization

3. RODTEP SCHEME TO BE EXTENDED TO ALL GOODS

The RoDTEP Scheme (Remission of Duties and Taxes on Exported Products) launched in 2020 aims to boost
exports of India. Under the scheme, a mechanism will be created for reimbursement of levies, taxes or
duties at central, state and local levels. Prior to the scheme, the reimbursements were not done under
any mechanism.

RoDTEP replaced Merchandise Exports from India Scheme (MEIS). The MEIS was not WTO-compliant.

4. MORE THAN 14 CRORES OF FREE OF COST CYLINDERS BEEN PROVIDED DURING COVID-19 CRISIS:
MOP&NG

The Ministry of Petroleum and Natural Gas (MoP&NG) announced that more than 14 crores of free of cost
cylinders have been provided under Pradhan Mantri Ujjwala Yojana to the beneficiaries of the scheme
during covid-19 crisis.

5. LIGHT HOUSE PROJECTS (LHPS)

PM laid the foundation stone of Light House projects (LHPs) at six sites across six States (Indore, Rajkot,
Chennai, Ranchi, Agartala and Lucknow).The Project has been conceptualised by the Union Ministry of
Housing and Urban Affairs.

The project is being constructed under the Global Housing Technology Challenge (GHTC)-India. Under the
programme, over 1,000 houses would be built in each of the six cities in 12 months along with allied
infrastructure facilities.

6. AGRICULTURE MINISTER INAUGURATES VIRTUAL AGRI-HACKATHON, 2020

The agriculture and farmers welfare minister Narendra Singh Tomar inaugurated the Virtual Agri-
Hackathon, 2020 in New Delhi. The hackathon will focus on precision agriculture, farm mechanization,
food technology, supply chain, green energy and waste to wealth.

7. 40TH INDIAN SCIENTIFIC EXPEDITION TO ANTARCTICA

Ministry of Earth science, recently launched the 40th Indian Scientific Expedition to Antarctica. Ice class
vessel MV Vasiliy Golovin has been deployed with objective to focus on ongoing scientific projects on
ocean observations, climate change, electric and magnetic flux measurements, geology, Re supplying of
food, environmental monitoring, fuel, and accomplish the return of the winter crew.

8. REPEAL CONFISCATION OF CATTLE: SC TO CENTRE

The Supreme Court asked the centre to repeal its three-year-old law which allowed seizure of livestock
from people even before they were found guilty of cruelty towards them. The 2017 law allowed
authorities to seize cattle over suspicion of cruel treatment.

9. INDIA TO CO-CHAIR APAP

India will act as the co-chair of the IUCN-supported Asia Protected Areas Partnership (APAP) for a period
of three years. As a co-chair, India would be responsible to assist other Asian countries in managing their
protected areas. India will replace South Korea.

The APAP is chaired by IUCN (International Union for Conservation of Nature) Asia and co-chaired by an
APAP nation member on a rotational basis.

11. India-Japan MoU for Partnership in Specified Skilled Worker

The Union Cabinet recently approved the MOU between India and Japan on “Specified Skilled Worker”.

The MoU will set an institutional framework for cooperation between India and Japan for accepting skilled
workers. The only condition is that the workers should have qualified in the required skill test and in
Japanese language test. According to the MoU, the qualified Indian workers can work in fourteen specified
sectors in Japan. The Indian workers are to be provided new status of residence of “Specified Skilled
Worker” according to the agreement.

12. IRDAI TO INTRODUCE A STANDARD HOME INSURANCE POLICY

The IRDAI (Insurance Regulatory Development Authority of India) is to introduce standard products
covering the risk of fire and allied perils. The policy being introduced is to replace the Standard Fire and
Special Perils Policy. It has three main components namely:

       Bharat Griha Raksha: A standard home insurance policy that will cover risk of fire and other
        related dangers. The policy will offer 20% of sum insured for the building subject to a maximum
        of 10 lacs of rupees.
       Bharat Sookshma Udyam Suraksha: for enterprises for which the total risk value of up to Rs 5
        crores.
       Bharat Laghu Udyam Suraksha: It will cover enterprises for which the total value of risk across
        the insurable asset classes in the location exceeds Rs 5 crores.

13. SIX YEARS OF UJALA AND SLNP SCHEMES

The UJALA (Unnat Jyoti by Affordable LEDs for All) and SLNP (Street Lighting National Programme)
completed six years of successful implementation. The two programmes revamped household and public

lighting system across the country. Both programmes are being implemented by EESL (Energy Efficiency
Services Limited).

EESL has distributed 36.69 crore LED bulbs and installed 1.14 crore LED streetlights, resulting in cumulative
energy savings of 55.32 billion kWh per year.

14. INSACOG TO ACCELERATE VIRUS SURVEILLANCE, CHARACTERIZATION AND GENOME SEQUENCING.

India launched INSACOG. The identified new covid-19 variant is sent to INSACOG (Indian SARS-CoV-2
Genetic Consortium) labs. INSACOG was launched in the backdrop of the emergence of UK variant.
INSACOG aims to accelerate virus surveillance, characterization and genome sequencing.

15. BHARTIYA NIRDESHAK DRAVYA PRANALI (BND)

These are Indian reference materials (RM) developed by CSIR-NPL. It is committed to ensure the quality
of products in every manufacturing and consumer sector by providing SI traceable measurements and
enhancing quality life of citizens through metrology. NPL has recently released two very important
certified RMs as Bharatiya Nirdeshak Dravyas (BNDs) for purity of gold and for Bituminous coal.

16. SAGARMALA SEAPLANE SERVICES

The Ministry of Ports, Shipping and Waterways is starting the ambitious Project of Sagarmala Seaplane
Services (SSPS) with potential airline operators. The project execution and implementation would be
through Sagarmala Development Company Ltd (SDCL), which is under the administrative control of the
Ministry of Ports, Shipping and Waterways.

** Sagarmala Programme was approved in 2015 and aims at port infrastructure development along the
7,516-km long coastline through modernization, mechanization and computerization. Under this
framework, the government hopes to increase its cargo traffic three-fold. It also includes the
establishment of rail/road linkages with the port terminals, thus providing last-mile connectivity to ports;
development of linkages with new regions, enhanced multi-modal connectivity including rail, inland
water, coastal and road services.

17. TOYCATHON 2021

Union Education Minister Ramesh Pokhriyal virtually launched the ‘Toyathon Challenge 2020' in
association with Amazon India. This initiative is in line with the National Education Policy (NEP) 2020 to
impart education to students through innovative toy technologies

18. FREIGHT BUSINESS DEVELOPMENT PORTAL LAUNCHED

The Ministry of Railways has launched an exclusive portal to promote and develop the railways’ freight
business - Freight Business Development Portal.

This first of its kind dedicated Freight portal will ensure that all operations stay customer centric, reduce
the costs for logistics providers, provide online tracking facility for suppliers and also simplify the process
of goods transportation. The aim is to replace physical processes with online ones to minimize the need
of human to human interaction.

19. First all women team of NDRF

An All women NDRF team was recently deployed on the banks of Ganga River for contingency duties in
Uttar Pradesh. The selected female personnel are likely to hold the positions of Sub Inspector, Inspector
and Sub-officer.

20. New Chief Justice Appointed for various High Courts:

•       Hima Kohli: Telangana High Court (1st Woman Chief Justice of Telangana HC)

•       JK Mahesh Wari: Sikkim High Court

•       Sudhanshu Dhulia: Guwahati High Court

•       Arup Kumar Goswami: Andhra Pradesh High Court

21. INDIA-FRANCE ANNUAL STRATEGIC DIALOGUE

India and France held their annual strategic dialogue in New Delhi. The countries mainly focused on
COVID-19 vaccines, nuclear, Indo-Pacific, and Space.

22. EXAM TO “SENSITIZE AND EDUCATE” ABOUT THE COWS

Rastriya Kamdhenu Aayog announced ‘Kamdhenu Gau-Vigyan Prachar-Prasar with an aim to “create
curiosity” among people about the importance of cows, and to “sensitize and educate” them about the
bovine species.

Rastriya Kamdhenu Aayog work under the Department of Animal Husbandry and Dairying (Ministry of
Fisheries, Animal Husbandry & Dairying).

22. ILLEGAL TO SELL ARTICLES USING GOD’S NAME: BOMBAY HIGH COURT

The Bombay High Court under the Maharashtra prevention and eradication of human sacrifice and other
human, evil and Aghori practices and black magic act declared that the advertisement of an article using
the name of god and claiming that it has Supernatural qualities is illegal.

23. INDIA INVITED TO CHAIR 3 UNSC COMMITTEES

The Ambassador of India to the United Nations T S Tirumurti recently announced that India has been
asked to chair three important committees of the UN Security Council (UNSC), during its tenure as a non-
permanent member of the powerful 15-nation UN body.

The three highly significant committees include the Taliban Sanctions Committee, Counter-Terrorism
Committee (CTC) and the Libyan Sanctions Committee.

India began its two-year term at UNSC from January 01, 2021. It is the eighth time that the country has
joined UNSC as the non-permanent member.

24. PANEL SET UP TO LOOK INTO ISSUES OF CULTURE AND LANGUAGE IN LADAKH

The ministry of home affairs setup a panel under the chairmanship of Kishan Reddy to find solutions on
the issues related to language, culture and conservation of land in the union territory of Ladakh due to
developmental activities.

25. USD 646 MN LOAN BY NDB FOR ANDHRA PRADESH

The New Development Bank (NDB) has signed loan agreements worth USD 646 million with the
Government of India for two road projects in Andhra Pradesh to improve mobility and connectivity to the
socioeconomic centers, enhance transport efficiency, improve road safety and riding quality, and provide
all-weather accessibility for the State’s road users..

26. SCHEME FOR INDUSTRIAL DEVELOPMENT OF J&K

The Cabinet Committee on Economic Affairs recently chaired by Prime Minister Narendra Modi approved
an ambitious scheme to boost the industrial development of Jammu and Kashmir. The main objective of
the scheme is to generate jobs that will lead to economic development and boost industry and service
later development of the union territory. The scheme offers attractions to both large and small industrial
units. The Government has allocated 28,400 crores of Rupees for the purpose. The funds are to be used
to develop industrial sector of the territory till 2037.

27. REWARI-MADAR FREIGHT CORRIDOR SECTION

Prime Minister dedicated the Rewari-Madar section of the Western Dedicated Freight Corridor. It is
situated in Haryana and Rajasthan. It runs for 227 km in Rajasthan.

Currently, the freight traffic does not get priority over passenger trains. After completion, at least 70% of
the freight trains will be transferred to the DFCCIL (Dedicated Freight Corridor Corporation of India)
network. This will help in timely movement of cargo.

28. INDIA’S FIRST DOUBLE STACK LONG-HAUL CONTAINER TRAIN

The Prime Minister recently flagged off the first double stack long-haul container train from New Ateli in
Haryana to New Kishanganj in Rajasthan. The train is to be operated in the 360-km long Rewari-Madar
Section of the Western Dedicated Freight Corridor. The train is 1.5 kilo metres long and will be hauled by
Electric traction.

29. PREETI PANT PANEL TO STUDY ADVERSE FINDINGS OF NFHS-5

The Health and Family Welfare Ministry has recently formed a technical expert group to study the adverse
findings from the National Family Health Survey-5.

The Ministry has set up the technical committee of medicine and nutrition experts under the leadership
of Joint Secretary Preeti Pant.

The committee will examine the findings of the National Family Health Survey-5 as well as suggest policies
and courses of action to improve on indicators related to anemia, malnutrition, C-section, and stunting.

30. JAPAN COMMITS RS 2,113 CR SUPPORT FOR COVID RELIEF EFFORTS

The Government of Japan has committed Official Development Assistance loan of 30 billion Japanese Yen
which is approximately Rs 2113 crore rupees for a programme loan to support India’s efforts at providing
social assistance to the poor and vulnerable households, severely impacted by the COVID-19 pandemic.

In the last few years, the economic cooperation between India and Japan has strengthened and grown
into a strategic partnership.

31. NITIN GADKARI TO LAUNCH “KHADI PRAKRITIK PAINT” DEVELOPED BY KVIC

Union Road Transport and Highways Minister Nitin Gadkari will be launching an innovative new paint
developed by Khadi and Village Industries Commission.

The eco-friendly, non-toxic paint, called “Khadi Prakritik Paint” is a first-of-its-kind product, with anti-
fungal, anti-bacterial properties. Based on cow dung as its main ingredient, the paint is cost-effective and
odorless and has been certified by the Bureau of Indian Standards.

32. CENTRE LAUNCHES PRADHAN MANTRI KAUSHAL VIKAS YOJANA 3.0

The Government of India launched the third phase of Pradhan Mantri Kaushal Vikas Yojana on 15 January
2021. The scheme has been rolled out for the current financial year, ending March 2021, and will be
implemented by the Ministry of Skill Development and Entrepreneurship.

The training will be imparted through 729 Pradhan Mantri Kaushal Kendras (PMKKs), empanelled non-
PMKK training Centres and more than 200 industrial training institutes (ITIs).

Further, a five-year PMKVY will be launched in 2021-22 with an enhanced target of skilling 1.5 crore youth.

33. INDIA TO LAUNCH ‘START-UP INDIA SEED FUND SCHEME’

Prime Minister Narendra Modi has launched ‘Startup India Seed Fund’ on 16 January 2021, while
addressing the ‘Prarambh: Startup India International Summit’ 2021. Start-up India Seed Fund Scheme
(SISFS)

The scheme will be launched with a corpus of Rs 945 crore with the aim of providing the financial
assistance to start-ups for the product trials, market-entry, and proof of concept, prototype development
and commercialization. The scheme will be in mission mode for the year 2021-25.

The government has been implementing the Fund of Fund Scheme to help startups raise equity capital.
Going forward, the government will also help startups in raising debt capital.

34. PETROLEUM MINISTRY LAUNCHES ‘SAKSHAM’ CAMPAIGN

One-month long SAKSHAM awareness campaign was recently launched by the Ministry of Petroleum and
Natural Gas recently launched to spread awareness about green energy.

The campaign has been organized by the Petroleum Conservation Research Association (PCRA), to
motivate consumers to switch to cleaner fuels and bring in behavioral change to use fossil fuel
intelligently.

35. GOI DECIDES TO CELEBRATE JANUARY 23 AS PARAKRAM DIWAS

The birth anniversary of Netaji Subhas Chandra Bose, on January 23, as ‘Parakram Diwas’ every year, the
Ministry of Culture announced.

The day is celebrated to honour and remember Netaji’s indomitable spirit and selfless service to the
nation.

Earlier this month, the Ministry of Culture held a high-level committee, headed by Prime Minister
Narendra Modi, to commemorate the 125th birth anniversary of Netaji Subhas Chandra Bose in a befitting
manner.

36. NITIN GADKARI INAUGURATES NATIONAL ROAD SAFETY MONTH 2021

The first-ever National Road Safety Month was inaugurated by Union Minister for Defence Shri Rajnath
Singh and Union Minister for Road Transport and Highways & MSME Nitin Gadkari. It is the inaugural
edition of the National Road Safety Month and is being held in place of National Road Safety Week, which
was being observed since the past few years.

The objective of the month-long programme is to build awareness about road safety and reduce road
accidents in India.

37. INDIA AND JAPAN INKS MOU TO ENHANCE COOPERATION IN ICT

India and Japan have signed a MoU to enhance cooperation in the field of Information and
Communications Technologies (ICT).

The MoU was signed between Union Minister for Communications, Electronics and IT Ravi Shankar Prasad
and the Japanese Minister for Internal Affairs and Communications.

Both countries will enhance mutual cooperation in the field of 5G technologies, telecom security,
submarine optical fibre cable system to islands of India, spectrum management, smart cities, high altitude
platform for broadband in unconnected areas, disaster management and public safety etc.

38. FIRST-EVER ICE CLIMBING FESTIVAL CELEBRATED IN NUBRA VALLEY

In Leh, the first-ever Ice climbing festival was celebrated in Nubra valley. The Seven Day event was
organized by Nubra Adventure Club.

Ice climbing is a popular winter sport abroad. To promote winter tourism in Nubra valley, Nubra
Adventure Club, with the help of Social activist Dr Nordan Otzer, has organized the Seven Day Ice Climbing
Festival.

39. TESLA SETS UP INDIA SUBSIDIARY IN BENGALURU

Elon Musk-owned electric vehicle (EV) company Tesla has registered a fully-owned subsidiary in
Bengaluru, Karnataka.

40. INDIA’S 7TH TRADE POLICY REVIEW (TPR) AT WTO

7th Trade Policy Review (TPR) of India concluded at the World Trade Organization (WTO). Trade Policy
Review is a key mechanism under the monitoring function of WTO.

During this trade policy review, WTO examines the trade and related policies of the member countries
with an aim to improve their adherence to WTO rules and to provide constructive feedback.

The official delegation of India for the 7th TPR was headed by Anup Wadhawan, the Commerce Secretary.

41. IREDA-NHPC PARTNERSHIP IN GREEN ENERGY PROJECTS

NHPC (National Hydroelectric Power Corporation) Limited has signed an MOU with the Indian Renewable
Energy Development Agency (IREDA) for providing assistance in setting up renewable energy (RE) projects
for the next 5 years. NHPC will help in the knowledge and technology transfer and provide consultancy
and research services.

Under the plan, NHPC will develop 7.5 GW of renewable energy projects in the next 3 years.

42. NITI AAYOG AND FLIPKART COLLABORATE TO ENHANCE WEP

NITI Aayog and Flipkart, have come together to launch the revamped Women Entrepreneurship Platform.
The Women Entrepreneurship Platform (WEP) is a unified access portal which brings together women
from different parts of India to realize their entrepreneurial aspirations.

The idea of the platform was first mooted by Amitabh Kant, CEO, NITI Aayog who announced the setting-
up of a Women Entrepreneurship Platform in NITI Aayog at the conclusion of the 8th Global
Entrepreneurship Summit (GES) held in Hyderabad in 2017, with an overarching theme of ‘Women first,
prosperity for all’.

43. ADB’S LOANS FOR VARIOUS PROJECT IN INDIA

       $10 million loan to support horticulture in Himachal
        The Asian Development Bank (ADB) and the Government of India have signed a $10 million project
        readiness financing (PRF). This agreement aims to help finance piloting activities, and design and
        capacity building to expand horticulture production and farm household income in Himachal
        Pradesh.
       $231 MN LOAN to Assam to Enlarge Its Power Generation Capacity
        The Asian Development Bank has sanctioned a $231 million loan to enhance electricity generation
        capacity in Assam. Under the project, 120 megawatts (MW) hydroelectric power plant would be
        constructed. The programme focuses on enhancing the capacity and efficiency of the energy
        generation and distribution systems in Assam to improve the availability of electricity service to
        end-users.
       100 million USD loan to boost power supply in Bengaluru
        The ABD signed an agreement of 100 million USD to upgrade the power distribution in Bengaluru
        city. Loan will be used to enhance the quality and reliability of electricity supply in Bengaluru city
        under the Bengaluru Smart Energy Efficient Power Distribution Project and also to install 2,800
        km of fibre optical cables.

44. India’s first Social Impact Bond (SIB)

Pimpri Chinchwad Municipal Corporation, Pune has recently signed a MoU with United Nations
Development Programme (UNDP) to co-create India’s first Social Impact Bond (SIB).This is the first time
that a government body will act as the ‘outcome funder’ in a bond.

A Social Impact Bond also called pay-for-success bond or pay-for-success financing or simply social bond
is basically a contract with public sector authority, where it pays for better social outcomes. This bond is
a form of outcome-based contracting and aims at improving social outcomes for a specific group of
citizens.

45. IFSCA BECOMES ASSOCIATE MEMBER OF IOSCO

The International Financial Services Centre’s Authority (IFSCA) of INDIA has become an Associate Member
of the International Organization of Securities Commissions (IOSCO). The IOSCO is the international
organization of the world’s securities regulators, covering more than 95% of the world’s securities
markets, and is also the global standard-setter for the securities sector. With this new membership, IFSCA

will get the platform to exchange information at the global level and regional level on areas of common
interests and help to learn from the experiences and best practices of the regulators of other well
established financial centers.

46. 125TH ANNIVERSARY OF PRABUDDHA BHARAT

The Prime Minister, Narendra Modi addressed the 125th anniversary celebration ‘Prabuddha Bharata’
organized by the Advaita Ashrama, Mayavati

Prabuddha Bharata is a monthly magazine of the Ramakrishna Order. This magazine was founded in the
year 1896 by P. Aiyasami, B. R. Rajam Iyer, G. G. Narasimhacharya, and B. V. Kamesvara Iyer under the
guidance of Swami Vivekananda. Prabuddha Bharata magazine was of great significance in spreading the
message of the ancient spiritual wisdom of the country.

47. Chauri Chaura Centenary celebrations to be inaugurated

The PM Narendra Modi, will virtually inaugurate the Chauri Chaura Centenary celebrations on February
4, 2021 to be held in Uttar Pradesh.

On the occasion, the Prime Minister will also release a postal stamp that will be dedicated to the centenary
year of the Chauri Chaura incident.

The Chauri Chaura incident took place, in British India, on February 4, 1922 at Chauri Chaura in Gorakhpur
district of the modern Uttar Pradesh.

In the incident a large group of protesters who were participated in the Non-cooperation movement
clashed with police and the police opened fire on them. In the incident, three civilians and 22 policemen
were died. Following the incident, Mahatma Gandhi halted the non-co-operation movement on February
12, 1922.

48. NEW FOREIGN TRADE POLICY

With a goal of making India a 5 trillion USD economy, The Union Ministry of Commerce and Industry
recently announced that the new Foreign Trade Policy (2021-26) will come into effect from April 1, 2021.

The policy will aim to boost exports, will enhance ease of doing business, will bring improvements in the
operations of domestic manufacturing and services sector through infrastructure support and wiil bring
changes to regulatory and operational framework and lower transactional costs. The District Export hubs
are to play a major role in the new Foreign Trade Policy.

49. NATIONAL MARINE TURTLE ACTION PLAN LAUNCHED

The Ministry of Environment Forest and Climate Change (MoEF&CC) has released ‘Marine Mega Fauna
Stranding Guidelines’ and ‘National Marine Turtle Action Plan’ recently to create a conservation paradigm
for the marine mega fauna and marine turtles.

The document suggests for improving the coordination amongst the government, civil society and all
relevant stakeholders so as to response to the cases of stranding, injury or mortality of marine mammals.
It also suggests coordinated efforts for the conservation of marine turtles.

50. UNION CABINET CLEARED POLICY ON PSU PRIVATIZATION

The Union Cabinet has cleared the policy on the privatization of public sector undertakings (PSUs). The
details regarding the policy was also announced in the Union Budget 2021.

The policy presents a road map for the presence of government-owned entities in strategic and non-
strategic sectors. This policy was the part of the Aatmanirbhar Bharat package that was announced by the
Finance Minister in May 2020.

51. 6TH ANNUAL DAY OF CARA

Central Adoption Resource Authority, under the Ministry of Women and Child development recently
celebrated its 6th annual day on January 15, 2021. It acts as the nodal body for the adoption of Indian
children. It monitors and regulate inter country and in country adoptions.

CARA has been designated as the central authority to deal with intercountry adoption according to the
provisions of Hague convention on intercountry adoption, 1993. India ratified Hague convention in 2003.

52. HCC APPROVED THE CONSTRUCTION OF A NEW PARLIAMENT

The Heritage conservation committee (HCC) approved the construction of a new parliament. The Heritage
Conservation Committee is set up under the chairmanship of Additional Secretary, Ministry of Urban
Affairs. Only buildings in and around Delhi are governed by these laws. Similar conservation committees
are set up at state levels as well.

The regulations of Heritage Conservation Committee applies to heritage sites such as artifacts, buildings,
areas and structures that are listed in Unified Building Bye Laws for Delhi, 2016. There are 886 buildings
notified in the list. The list is prepared by the National Disaster Management Committee, Delhi
Development Authority.

53. FLOATING SOLAR ENERGY PROJECT

The largest floating solar energy project in the world will be constructed by The Government of at
Omkareshwar Dam on Narmada River at a cost of 3000 crore rupees. Energy capacity of the project will
be 600 megawatts and the project will begin its power generation by 2022 to 2023.

International Finance Corporation and World Bank will provide financial assistance for the programme

54. PNEUMOSIL: INDIA’S FIRST PNEUMONIA VACCINE

The Union Health Minister Harsh Vardhan launched Pneumococcal Vaccine called Pneumosil developed
by the Serum Institute of India recently unveiled the first indigenously developed.

It was developed through collaboration with Bill and Melinda Gates Foundation and PATH organization. It
has been approved by the Drugs Controller General of India and is highly inexpensive. It is 2 USD per dose.
This is 30% less than the PCV (Pneumonia Conjugate Vaccine) that is currently administered against

55. L&T BAGS CONTRACT FOR BULLET TRAIN PROJECT

The contract a contract worth Rs 1390 crore for the Mumbai-Ahmedabad bullet corridor have been given
to Larsen & Toubro (L&T) – IHI Infrastructure Systems Consortium. They have been given the contract for
the procurement and fabrication of 28 steel bridges for Crossing Over Rivers, roads, railway lines,
highways and other structures for the Mumbai Ahmedabad high-speed rail corridor.

The Mumbai-Ahmedabad high-speed rail corridor is being executed by the National High Speed Rail
Corporation Limited (NHSRCL).

56. VACCINE MAITRI EXTENDED TO SRI LANKA

India has extended its “Vaccine Maitri Initiative” to Sri-Lanka now. India has dispatched 5 Lakh doses of
Covishield vaccines to Sri Lanka as grant assistance. The vaccine Maitri initiative has delivered nearly five
million doses to seven countries in the neighborhood, till date.

The Vaccine Maitri or the Vaccine Friendship initiative was started on January 20, 2021. Under the
initiative, India will supply Made-in-India Covid-19 vaccines to its neighboring countries. Bhutan and
Maldives Bangladesh, Nepal, Myanmar and Seychelles are the countries to whom vaccines have been
delivered already.

57. INDIA-IEA SIGNED MOU FOR GLOBAL ENERGY SECURITY

India has signed a Framework for strategic partnership agreement with the International Energy Agency
(IEA). The agreement was signed between Power Secretary Sanjiv Nandan Sahai and IEA Executive
Director Fatih Birol.

The Memorandum of Understanding (MoU) seeks to strengthen the cooperation in global energy security,
stability and sustainability. It will also help in extensive exchange of knowledge between the India and IEA.

India is not a member of IEA.

58. INDIA PLEDGES $150,000 FOR UN PEACE BUILDING

The permanent representative of India to the United Nations, TS Tirumurti, announced the pledge of USD
150,000 to fund for the activities of the UN peace building as a token for the engagement of both the
countries.

The United Nations Peacekeeping operations are policing and peace building actions carried out by the
United Nations to bring order and stability in the nations affected by the war. The UN Peacekeepers are
known as ‘Blue Helmets’ or ‘Blue Berets’.

59. BANGLADESH FORCES IN REPUBLIC DAY EVENT

Bangladesh Army contingent marched down the Rajpath on the occasion of India 72nd Republic Day
celebrations. No chief guest was invited on the republic day. It was mark the completion of 50 years of
the liberation (India-Pakistan war of 1971) of Bangladesh from Pakistani rule. Thus, to mark the Golden
Jubilee of the war, Bangladesh Forces marched along with the Indian Forces.

60. TREATY ON PROHIBITION OF NUCLEAR WEAPONS

Recently, The United Nations General Assembly (UNGA) had approved the “Treaty on the Prohibition of
Nuclear Weapons” was adopted on July 7, 2017. The treaty is also called as the Nuclear Weapon Ban
Treaty. It is the first legally binding international agreement. It prohibits the nuclear weapons and aims
for the total elimination of such weapons.

India has made an announcement that it does not support the “Treaty on Prohibition of Nuclear Weapons”
and it is not bound by any of the obligations of the treaty. The nine countries that possess the nuclear
weapons did not support it. The treaty was not supported by the NATO alliance as well.

61. PM MODI TO ATTEND G7 SUMMIT

The UK Prime Minister Boris Johnson has invited PM Modi to attend G7 summit. UK has also invited
Australia and South Korea.

G7, originally formed in 1975 has USA, Canada, Germany, France, Japan, Italy, UK as its members.

62. INDIA-UAE SIGNED MOU FOR SCIENTIFIC AND TECHNICAL COOPERATION

The Union Cabinet has approved India-UAE Memorandum of Understanding for Scientific and Technical
Cooperation.

The MoU provides sharing of knowledge between the countries. It will also allow to share information of
data from satellites, radar, tide gauges, meteorological stations. MoU also allows the countries to share
knowledge of operational products for seismological and oceanic services.

63. NEGLECTED TROPICAL DISEASES

India has joined the world and Light up Qutub Minar as a sign of unity to combat the Neglected Tropical
Diseases (NDT).This was done to mark the second annual World NTD Day that was observed on January
30th. It is an awareness day that addresses the neglected tropical diseases (NTDs).

The NTDs are a diverse group of communicable diseases that prevail in tropical and subtropical conditions.
As per the WHO major NTDs are: Buruli Ulcers, Chagas Disease, Dengue, Chikungunya, Sleeping Sickness
(Human African Trypanosomiasis), Hansen’s Disease (Leprosy), Trachoma Mycetoma, chromo-
blastomycosis, deep mycoses etc.

India is home to the world’s largest absolute burden of 11 of the major neglected tropical diseases.

64. INDIA-FRANCE TO LAUNCH YEAR OF ENVRIONMENT

India and France will launch the Year of Environment. It will be launched by the Environment Minister
Prakash Javadekar and his French counterpart Ms. Barbara Pompeii in a bid to strengthen the ecological
partnership. Initiative aim to boost the cooperation between the two countries on climate issues and
jointly boost the global momentum throughout 2021. The year 2021 is a key year to fight against climate
change and the erosion of biodiversity.

STATES

1. GUJARAT: DRAGON FRUIT RENAMED

Dragon fruit, a cactus variety fruit has been named “Kamalam” by the Gujarat state government. Dragon
Fruits grow only during summers grow in regions where summer temperatures rise above forty degrees
Celsius and blooms only at night. It occurs only once in a year.

India imports 95% of its Dragon fruit from Malaysia, Thailand, Vietnam and Sri Lanka.

2. KARNATAKA: AVALOKANA SOFTWARE LAUNCHED

The Karnataka CM B S Yediyurappa launched “Avalokana software”, which is a transparent e-governance
tool. The software will enable the state government to access data on expenditures and sanctions incurred
on 1,800 programmes and will provide Assembly constituency wise release of government grants and
allocations to different government programmes

3. RAJASTHAN: 5TH STATE TO COMPLETE URBAN LOCAL BODIES REFORMS

Rajasthan is now become eligible for additional reform linked borrowing after becoming the 5th state in
the country to successfully complete the Urban Local Bodies (ULBs) reforms specified by the Department
of Expenditure, Ministry of Finance.

Thus, the State has been granted permission by the Department of Expenditure an additional financial
resource of 2,731 crore rupees. The State will get this amount through Open Market Borrowings.

Other states that have completed the Urban Local Bodies Reforms include- Manipur, Andhra Pradesh,
Madhya Pradesh and Telangana.

4. KOLKATA: FIRST YOUNG READERS’ BOAT LIBRARY

The West Bengal Transport Corporation in collaboration with a heritage book store has launched the First
Young Readers’ Boat Library. The boat library was launched with the motive that one can read books while
appreciating the beauty of Kolkata.

The library trip will start at Millennium Park and will provide people a three-hour-long trip.

5. RAJASTHAN: “SCHOOL OF PUBLIC HEALTH” LAUNCHED

In order to make the policy intervention to build the public health capacity and skills, Rajasthan govt has
launched a new School of Public Health. It will also help in bridging the gaps between education and
practices in Rajasthan

The digital health technology and evaluation of surveillance mechanisms are the significance features of
the school. These features will help the policy makers to identify the challenges and to bring the changes.

6. GUJARAT: HORTICULTURE DEVELOPMENT MISSION

The Gujarat CM recently announced the “Horticulture Development Mission” also called “Bagayat Vikas
Mission”. The main objective of the mission is to double the income of the farmers involved in horticulture
and medicinal farming. Under the mission, the waste land of the State Government of Gujarat is to be
provided on thirty year lease for farming medicinal and horticulture crops. A list of waste lands available

for allotment is to be released on I-Khedut portal. The mission is to give priority to farmers using sprinkler
and drip irrigation.

7. MANIPUR: CM BIREN SINGH VIRTUALLY INAUGURATED CHERRY BLOSSOM FESTIVAL

The 4th edition of the Cherry Blossom Festival, Mao in Manipur was virtually inaugurated by Chief Minister
N Biren Singh.

The Festival featured the picturesque landscape of Mao adorned with beautiful cherry trees laden with
blooming flowers which have traditionally attracted visitors from across the world.

Manipur has been celebrating the festival every year since 2017.

8. NAVEEN PATNAIK INAUGURATES INDIA’S FIRST ‘FIRE PARK’ IN BHUBANESWAR

The Chief Minister of Odisha, Naveen Patnaik virtually inaugurated a first of its kind ‘Fire Park’, to educate
and bring awareness on basic fire safety measures among the people, particularly the students. The fire
park will facilitate demonstrations on use of first aid fire-fighting equipment, rescue and disaster
operations, visit the exhibition hall, screening of films and distribution of leaflets on fire safety.

The ‘Fire Park’ is located inside the premises of the Odisha Fire and Disaster Academy in Bhubaneswar.
The minister also launched an online portal, ‘AgnishamaSeva’ of Odisha Fire Service.

9. MAHARASHTRA: GOREWADA INTERNATIONAL ZOO RENAMED AFTER BAL THACKERAY

The Maharashtra government has renamed Gorewada International Zoo in Nagpur as ‘Balasaheb
Thackeray Gorewada International Zoological Park. The zoological park will come up on nearly 2,000
hectares forest land.

Chief Minister Uddhav Thackeray will inaugurate the Indian safari at the zoo on January 26. Three special
40-seat capacity vehicles and an online ticket booking facility will be made available to the people as soon
after the Indian safari is inaugurated.

10. NITISH KUMAR INAUGURATES STATE’S FIRST BIRD FESTIVAL ‘KALRAV’

The Chief Minister of Bihar Nitish Kumar has inaugurated the first-ever bird festival of the state, ‘Kalrav’,
at Nagi-Nakti bird sanctuary, located in Jamui district.

The festival was organized by the state environment, forest and climate change department to create
awareness among people about birds, especially the migratory birds.

The Nagi- Nakti Bird Sanctuaries have been the home of a wide variety of indigenous species of birds and
of migratory birds that turn up during the winters from places like Eurasia, Central Asia, the Arctic Circle,
Russia and Northern China.

11. KERALA GOVERNOR LAUNCHES ‘ONE SCHOOL ONE IAS’ SCHEME

Kerala Governor Arif Mohammad Khan has inaugurated the ‘OneSchool One IAS’ scheme which has been
rolled out under the Vedhik Erudite Foundations Scholarship Programme.

The programme will be providing free training to the students who are economically backward but are
academically brilliant aspirants of civil service and other competitive exams. The beneficiaries of the

programme will be selected by a panel which will be headed by the heads of the respective educational
institutions.

12. INDIA’S 1ST LABOUR MOVEMENT MUSEUM TO BE SET UP IN KERALA

The first-of-its-kind Labour Movement Museum, in India, would be launched in Alappuzha in Kerala, to
showcase the history of the world labour movement.

The museum will portray the growth of the world labour movement and the history of Kerala’s labour
movement, through pictures, documents and other exhibits. The New Model Cooperative Society Limited,
previously run by the Bombay Company, has been converted into the Labour Movement Museum.

13. DELHI GOVERNMENT THE WEIGHT OF THE SCHOOL BAGS

According to the New Delhi School Bag Policy, the weight of the school bag of students between Class 1
and Class 10 should not be more than 10% of their body weight.

The policy suggests that the schools should follow and use textbooks prescribed by NCERT, SCERT and
CBSE only. The schools should also formulate thoughtful time table so that the students need not carry
too many books on a single day.

14. WEST BENGAL: WORLD BANK’S 105 MILLION USD LOAN TO IMPROVE WATERWAYS

The World Bank, Government of India and Government of West Bengal recently signed a 105 million US
the agreement. The fund has been allocated to the West Bengal inland water transport, logistics and
special development project. Fund is to be used to improve the inland water transport infrastructure in
Kolkata, West Bengal.

15. KARNATAKA: YAKSHAGANA ARTIST DIED ON STAGE

Recently a Yakshagana artist died while performing on stage. Yakshagana is a traditional theatre form of.
It is a temple art form that depicts mythological stories and Puranas. It is performed with massive
headgears, elaborate facial make-up and vibrant costumes and ornaments. Usually recited in Kannada, it
is also performed in Malayalam as well as Tulu (the dialect of south Karnataka).

16. MADHYA PRADESH: ‘LAUNCH PAD SCHEME’ TO MAKE YOUTH SELF-RELIANT

The Women and Child Development Department of Madhya Pradesh launched the scheme with the
objective to provide a platform to the boys and girls coming out of child care institutions and having
completed 18 years of age. The scheme aims to make them, self-reliant by continuing their education and
training.

The District Administration will provide space to these youths for the opening of coffee shops, stationery,
photocopying, computer typing and DTP work. These launch pads will be operated through non-
governmental organizations.

17. KARNATAKA: KRISHI SANJEEVANI VANS TO TEST SOIL, WATER

Karnataka’s State Agriculture Department with Central assistance under National Krishi Vikas Yojana
launched 40 Krishi Sanjeevani vans in Bengaluru. It aims to take labs to the agriculture fields, study the

conditions and address the needs of the farmers about pest control, the fertility of the soil, weeds and
suitable crops in the existing conditions.

18. PUNJAB: THE FIRST STATE IN INDIA TO FORMULATE A DATA POLICY.

The cabinet of Punjab recently approved the Punjab state data policy. The policy aims to track progress
and provide citizens access to services. The Punjab state data policy will leverage data and technology to
optimize Service Delivery and citizen access. It will also increase the participation of citizens through user
friendly and secure e-governance systems.

19. ASSAM: EASE OF DOING BUSINESS (AMENDMENT) BILL, 2020

The Assam assembly recently passed the Assam Ease of Doing Business (Amendment) Bill, 2020. The bill
makes amendments to the Assam ease of doing business act, 2016. The amendment will avail 0.25%
additional borrowing from the Centre. The new bill will simplify procedures and bring transparency and
efficiency in the system.

Under the new Amendment Bill, the government has committed to create an investor friendly
atmosphere in the state of Assam.

20. UTTAR PRADESH: GOVERNMENT TO LAUNCH KISAN KALYAN MISSION.

Mission aims to double the farmer income covering all the Assembly constituencies of the state of Uttar
Pradesh. This is to be achieved through campaigns (to reduce agricultural waste caused by using fertilizers
in a balanced manner.)

The mission will also encourage farmers to time their cultivation of crops according to the demand of the
market. Further, it aims to create agricultural diversification.

21. MADHYA PRADESH: TRIFOOD PARKS

TRIFOOD Parks are food processing centers. They will aim to promote value addition to the minor forest
produce. It is a joint initiative of Ministry of Tribal Affairs, Ministry of food processing industry and TRIFED
(Tribal Cooperative Marketing Development Federation of India). It was launched under Van Dan Yojana
in August 2020.

The TRIFED under Ministry of Tribal Affairs signed a memorandum of understanding with Akhil Bhartiya
vanvasi Kalyan Ashram to setup TRIFOOD parks in Madhya Pradesh. The TRIFOOD Parks will procure raw
materials from Van DhanKendras. They will then be processed and sold across the country through the
tribes India outlets.

22. JAMMU & KASHMIR: GI TAG FOR GUCCHI MUSHROOM

The Jammu and Kashmir Government recently sought GI tag for Gucchi mushroom, a highly expensive and
are full of health benefits mushroom variety. 500 grams of Gucchi mushrooms cost Rs 18,000.

Gucchi mushroom is a species of fungus belonging to the family Morchellaceae. They are pale yellow in
colour with large ridges and pits on their cap. They are raised on a large white stem. The Gucchi
mushrooms are locally called “Thuntoo”.

23. CSIR-LADAKH INKS MOU FOR S&T DEVELOPMENT

Council of Scientific and Industrial Research (CSIR) and the union territory of Ladakh recently signed an
agreement for the development of the Union Territory through Science and Technology (S&T)
interventions.

It seeks to develop the areas like exploration of natural resources, introduction of cash crops in the region
and bioresource utilization which is endemic to Ladakh.

ECONOMY AND BANKING

1. PAPERLESS UNION BUDGET 2021

Union Budget 2021 presented on February 1, was completely paperless in the wake of the ongoing
coronavirus pandemic. The Centre has received permission for the same from both houses of parliament.

This was the first time since independence that the budget papers will not be printed.

A Mobile application “Union Budget Mobile App” for hassle-free access of Budget-related documents by
Members of Parliament (MPs) and the public was also launched by Finance Minister Nirmala Sitharaman.

2. INDIA’S RETAIL INFLATION DROPS TO 4.59 % IN DECEMBER

According to the data released by the Ministry of Statistics and Programme Implementation. India’s retail
inflation fell sharply to 4.59 per cent in December, mainly due to declining food prices, government data
showed.

3. LICENCE OF VASANTDADA NAGARI SAHAKARI BANK CANCELLED

The Reserve Bank of India (RBI) has cancelled the license of Maharashtra-based Vasantdada Nagari
Sahakari Bank, with immediate effect after failing to comply with the requirements of Section 11(1) read
with Section 56 of BR Act.

RBI has requested the Commissioner for Cooperation and Registrar of Cooperative Societies (RCS),
Maharashtra to issue an order for winding up the bank and appoint a liquidator for the bank.

4. SIDBI AND TATA POWER OFFER ROOFTOP SOLAR FINANCING FOR MSMEs

The TATA Power and SIDBI announce their partnership to provide a finance scheme to the MSMEs in solar
rooftop segment. According to TATA Power, easy financing is one of the barriers for penetration of solar
energy in the MSME sector.

5. SMCB: INDIA’S 1ST URBAN CO-OPERATIVE BANK TO TRANSITION TO SFB

Uttar Pradesh-based, Shivalik Mercantile Co-operative Bank (SMCB) has become the first urban co-
operative bank (UCB) in India to receive a license from RBI to operate as a Small Finance Bank (SFB).

6. BANDHAN BANK AND INDIAN ARMY’S AGREEMENT FOR SALARY ACCOUNT

Bandhan bank has got the mandate to maintain Shaurya Salary Account of the Army personnel. Bandhan
Bank Shaurya Salary Account will have a zero balance facility. The Shaurya Salary Account also offers
protection for self and assets.

7. RBI FORMS ACADEMIC ADVISORY COUNCIL FOR SUPERVISORY COLLEGE

The RBI formed an advisory council under former deputy governor N S Vishwanathan to advise the
director of the central bank on supervisory colleges. The council will identify areas where upskilling and
building are required in supervisory colleges.

Its objectives of Supervisory colleges are to improve understanding of risk profile of the banking group, to
enhance information exchange and cooperation among supervisors and facilitate effective supervision of
internationally active banks.

These colleges were after the PMC Bank scam. To prevent such scam scenarios in the future.

8. RBI RELEASED GUIDELINES TO PAYMENT INFRASTRUCTURE DEVELOPMENT FUNDS

In an effort to give a push to digital payments across the country, the Reserve Bank of India (RBI) is set up
a Payment Infrastructure Development Fund (PIDF) of Rs 500 crore in June 2020.Now, the Reserve Bank
of India has announced operational guidelines for it.

The Fund will be used to ensure growth of card acceptance infrastructure such as swipe machines across
the country particularly in Tier III and Tier VI cities and North-Eastern States.

RBI has constituted an advisory council under the chairmanship of B P Kanungo. The advisory council will
basically govern the funds. On the other hand, the funds will be administered and managed by RBI.

9. RBI’S DIGITAL PAYMENTS INDEX

The Reserve Bank of India recently released the Digital Payments Index to measure the growth in cashless
transactions in India.

The Digital Payments Index comprises of five broad parameters. The parameters of the Digital Payments
Index and its penetration are as follows:

•       Payment Enablers: 25%
•       Payment Infrastructure-Demand Side factors: 10%
•       Payment Infrastructure-Supply Side factors: 15%
•       Payment Performance: 45%
•       Consumer Centricity: 5%

10. NSO RELEASED REVISED ESTIMATES OF ECONOMIC GROWTH

The National Statistical Office (NSO) has released the revised estimates of Gross Domestic Product (GDP)
data on January 29, 2020.

•       Revised estimates figured the GDP growth at 4 percent for the fiscal year 2019-20. (This was 20
        basis point lower than the provisional estimates of 4.2% growth that was released in 2020.)
•       Revised estimate of GPD for 2018-19 is 6.5 percent
•       Revised estimates of GDP growth for 2017-18 is 6.8 percent.

11. JIO IS 5TH STRONGEST BRAND GLOBALLY

As per the ranking provided by the “Brand Finance Global 500 ranking 2021” of the strongest brands, the
Reliance Jio has become the fifth strongest brand globally. Jio has achieved this milestone in just four-
odd-years. Jio has also become the third-largest mobile network operator in the world. The network
operator has almost 400 million subscribers, as of now.

12. UNION CABINET CLEARED POLICY ON PSU PRIVATIZATION