Current Affairs in English

16th Jan 2022 Current Affairs in English

Important Days

Indian Army Day observed on 15 January

The Army Day in India is celebrated on 15 January every year, to salute the valiant soldiers who sacrificed their lives to protect the country and its citizens. This year marks the 74th Indian Army Day.

The day is marked to commemorate the day when General (later Field Marshal) KM Carriappa took over the command of the Army from General Sir FRR Bucher, the last British Commander-in-Chief in 1949, and became the first Commander-in-Chief of Indian Army post Independence.

National

‘North East on Wheels Expedition’ launched to promote Culture of Northeastern States

Minister of State for Culture, Meenakshi Lekhi has launched the ‘North East on Wheels Expedition’ in New Delhi to promote the Culture of Northeastern States. The Bike Expedition is scheduled between 8th to 16th April this year to mark the celebrations of Azadi Ka Amrit Mahotsav.

75 Bikers participating in this expedition will be selected from all over the country and will cover about 9000 km in the North East Region in 6 groups.

The expedition will also promote the Dekho Apna Desh initiative of the Ministry of Tourism. The Riders will also carry the message of the importance of Road Safety.

International

India give support to Sri Lanka to overcome the forex crisis

India has announced financial assistance of USD 900 million loans to Sri Lanka to help the island nation in building up its depleted foreign reserves and for food imports. It must be noted that Sri Lanka is currently facing a shortage of almost all essential commodities due to a shortage of dollars to pay for the imports.

India is extending its support through the Reserve Bank of India (RBI). The Indian High Commissioner to Sri Lanka Gopal Baglay met Cabraal and expressed India’s strong support to Sri Lanka in the wake of RBI extending over USD 900 million facilities.

These comprise deferment of Asian Clearing Union settlement of over USD 509 million and currency swap of USD 400 million.

Useful notes for all competitive exams:

  • Sri Lanka Capitals: Sri Jayawardenepura Kotte; Currency: Sri Lankan rupee.
  • Sri Lanka Prime Minister: Mahinda Rajapaksa; Sri Lanka President: Gotabaya Rajapaksa.

Daniel Ortega was sworn in as President of Nicaragua for 5th term

Nicaraguan President José Daniel Ortega Saavedra, leader of the Sandinista National Liberation Front (FSLN), was sworn in for a new presidential term. This marks his 5th term and 4th consecutive term as the President of Nicaragua.

He will remain in the office until January 2027. He received the presidential sash from Gustavo Porras, head of the National Assembly. Ortega’s first stint in power ended in 1990 and upon returning as president in 2007, he quickly set about gaining control of key state institutions.

Useful notes for all competitive exams:

  • Nicaragua Capital: Managua;
  • Nicaragua Currency: Nicaraguan córdoba.

Agreements

Indifi tie-up with GPay to offer instant digital credit to SMEs

Small businesses-focused online lending platform Indifi Technologies has collaborated with Google Pay to provide instant loans to eligible medium, small and micro enterprises (MSMEs) merchants through the Google Pay platform.

The borrowing process is entirely digital and eligible merchants on the Google Pay for the Business app can click on loan offerings from Indifi and submit an application online. The loans will be in the range of Rs 2.5 to Rs 3 lakh.

With a 35 percent share of monthly UPI volumes, Google Pay has been growing its financial services play over the past year like other payments leaders in India. It already provides loans and short-term credit to individuals and small merchants in tie-ups with IIFL Loans, CASHe, and ZestMoney, among others.

Banking

Paytm Payments Bank became the most preferred UPI beneficiary bank in India

Paytm Payments Bank Ltd (PPBL) became the largest and fastest-growing UPI beneficiary bank in India. It becomes the first beneficiary bank in the country to achieve the landmark of over 926 million UPI transactions in a single month.

Beneficiary banks are the banks of the account holder who is receiving money. Paytm Payments Bank has also gained rapid traction as a remitter bank for UPI payments.

While State Bank of India (SBI) topped the chart of being the biggest remitter in December 2021, according to data released by the National Payments Corporation of India (NPCI). State Bank of India followed PPBL as the second-largest beneficiary with 664.89 million transactions.

Useful notes for all competitive exams:

  • Chairman of Paytm Payments Bank Ltd: Vijay Shekhar Sharma;
  • MD and CEO of Paytm Payments Bank Ltd: Satish Kumar Gupta;
  • Paytm Payments Bank Ltd Headquarters: Noida, Uttar Pradesh.

Defence

The Philippines to purchase BrahMos cruise missiles from India

The Philippines has become the first foreign country to place an order for the purchase of the BrahMos Shore-Based cruise Missile System for its navy. This agreement will give a big boost to India’s defense manufacturing system.

The estimated deal cost is worth $374,9 million. The BrahMos Aerospace Pvt Ltd will supply the missile, under the Shore-Based Anti-Ship Missile System Acquisition Project, for Philippine Navy.

Useful notes for all competitive exams:

  • Philippines Capital: Manila;
  • Philippines Currency: Philippine peso;
  • Philippines President: Rodrigo Duterte.

Economy

India’s forex reserves declines by $878 mn to $632.7 bn

As per the weekly Reserve Bank of India (RBI) data, the foreign exchange reserves of India declined by $878 million to USD 632.736 billion in the week ended January 7, 2022. In the previous week ended December 31, India’s reserves dropped by $1.466 billion to $633.614 billion.

The decline was mainly due to a fall in gold reserves and foreign currency assets (FCA). In the reporting week, FCAs decreased by $497 million to $569.392 billion. Gold reserves declined by $360 million to $39.044 billion.

The special drawing rights (SDRs) with the International Monetary Fund (IMF) fell by $16 million to $19.098 billion. India’s reserve position with the IMF dipped by $5 million to $5.202 billion.

Awards

NIRAMAI & InnAccel received Global Women’s Health Tech Awards

DBT-BIRAC supported start-ups, NIRAMAI Health Analytix Pvt Ltd, and InnAccel Technologies Pvt Ltd has received World Bank Group and Consumer Technology Association’s Global Women’s Health Tech Awards.

The award recognizes innovative startups that leverage tech to improve women’s health and safety. NIRAMAI Health Analytix was selected for early-stage breast cancer medical device. InnAccel was selected for Fetal Lite, an AI-powered fetal heart rate (FHR) monitor.


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