Weekly Current Affairs 16th February - 22nd February 2021

FINANCE AND BANKING

• Deccan Urban Co-op Bank withdrawals capped at Rs 1000 per customer; RBI bars from lending, investing
  • RBI recently imposed a Rs 1,000 cap on withdrawals from all savings, current or any other accounts of Deccan Urban Cooperative Bank.
  • The restrictions shall stay in force for a period of six months as RBI looks to improve the bank’s liquidity position.

• RBI tightens norms for investments in NBFCs from non-FATF nations
  • RBI has tightened the rules governing investments in non-bank lenders originating from countries that are not compliant with global standards on prevention of money laundering.
  • FATF, or the Financial Action Task Force, is the inter-governmental watchdog for global money laundering and terrorist financing.

• RBI permits residents to make remittances to IFSCs under LRS
  • RBI permitted resident individuals to make remittances under the Liberalised Remittance Scheme (LRS) to International Financial Services Centres (IFSCs) in the country.
  • The decision of the RBI is aimed at deepening the financial markets in the IFSCs and providing an opportunity to resident individuals to diversify their portfolios.

ECONOMY

• Oxford Economics ups India growth forecast to 10.2 pc for 2021
  • Oxford Economics revised India’s economic growth projection for 2021 to 10.2 per cent from the earlier 8.8 per cent, citing receding COVID-19 risks and the shift in the monetary policy outlook.

• States fiscal deficit seen at 4.3% in FY22: India Ratings and Research
  • The aggregate fiscal deficit of states for FY22 will likely be 4.3% of the gross domestic product (GDP) compared to 4.6% (revised) in FY21, India Ratings and Research said.

• Govt. makes security clearance mandatory for all bidders in CPSE Sale
  • The government has tweaked the guidelines for strategic disinvestment, making security clearance mandatory for all bidders who put in price bids for buying a central public sector enterprise (CPSE).

NATIONAL

• 25 cities selected for Nurturing Neighbourhoods Challenge cohort
  • As many as 25 cities from across the country including Agartala, Bengaluru and Coimbatore among others have been selected for the Nurturing Neighbourhoods Challenge cohort.
  • The Challenge is a three-year initiative aimed at supporting early childhood-friendly neighbourhoods under the government’s Smart Cities Mission.

• Rajya Sabha Clears Bill for Regularization of Unauthorized Colonies in Delhi
  • The Rajya Sabha passed the National Capital Territory of Delhi Laws (Special Provisions) Second (Amendment) Bill, 2021 to regularise unauthorised colonies in Delhi which is expected to benefit 1.35 crore people.

• Third edition of Indian Sign Language Dictionary with 10,000 terms to be released
  • The third edition of the Indian Sign Language (ISL) Dictionary with 10,000 terms will be released by Union Minister for Social Justice and Empowerment Thaawarchand Gehlot.

INTERNATIONAL

• US officially rejoins Paris climate accord
  • The United States re-joined the Paris Agreement – a global treaty which was adopted by 195 countries in December, 2015 as an international response to the climate crisis.

• France passes anti-radicalism bill
  • Lawmakers in the French parliament's lower house approved a bill titled "Supporting respect for the principles of the Republic" that would strengthen oversight of mosques, schools and sports clubs to safeguard France from radical Islamists and to promote respect for French values.

• Democratic Republic of the Congo Appoints Sama Lukonde as New PM
  • Congo President Felix Tshisekedi appointed Jean-Michel Sama Lukonde Kyenge, director-general of Gécamines (General Quarries and Mines) as the new DRC Prime Minister.

STATES

• West Bengal launched the ‘Maa’ scheme
  • West Bengal Chief Minister Mamata Banerjee virtually launched the ‘Maa’ scheme under which her government would provide a meal at a nominal cost of Rs 5 mainly to poor people.

• Age-old Kanchoth festival celebrated across J&K's Chenab valley
  • The ancient Kanchoth festival, a symbol of ancient Nag culture, was observed with religious fervour and gaiety across Chenab valley region of Jammu and Kashmir.

• Odisha CM announces Rs 200-cr package for Samaleswari shrine development
  • Odisha Chief Minister Naveen Patnaik announced a Rs 200-crore package for the development of the 16th-century shrine of Maa Samaleswari, the presiding deity of western Odisha. The SAMALEI (Samaleswari Temple Area Management and Local Economy Initiatives) project will be implemented during the 2021-22 fiscal.

REPORTS AND INDEXES

• India to see $500-billion investment in renewables by 2030: IEEFA report
  • The Institute for Energy Economics and Financial Analysis (IEEFA) has published a report.
  • India is set to see investments to the tune of around $500 billion in the renewables sector if the country has to achieve the target of 450 gigawatts (GW) of capacity by 2030, according to the report.

• Making Peace with Nature: UN Report
  • According to a new report, Making Peace with Nature, by the UN Environment Programme (UNEP) that offers a comprehensive blueprint for future action, the world can transform its relationship with nature and tackle the climate, biodiversity and pollution crises together to secure a sustainable future and prevent future pandemics,.

SCIENCE AND TECHNOLOGY

• NASA’s landed its Perseverance rover on Mars
  • The National Aeronautics and Space Administration (NASA) landed its largest and most advanced rover, Perseverance, in a deep crater near the Mars’ equator called Jezero Crater.
  • The six-wheeled vehicle will now spend at least the next two years drilling into the local rocks, looking for evidence of past life.

• ISRO Announces ‘Bhuvan’, Indian Alternative to Google Maps
  • In an attempt to compete with Google Maps, Indian Space Research Organisation (ISRO) and digital mapping and navigation technology solutions provider MapmyIndia announced a collaboration to launch an indigenous mapping portal and geospatial service.

• ISRO to launch Brazil's Amazonia-1, 20 satellites
  • In its first mission of 2021, the Indian Space Research Organisation will launch Brazilian satellite Amazonia-1 as main payload and 20 other satellites from Sriharikota on February 28.

AGRICULTURE AND RURAL DEVELOPMENT

• Team TRIFED bags the award for excellence in PSU for Investment in Start-ups
  • Team TRIFED has won 4 awards in the 19th Global edition and the 4th India Edition of World Leadership Congress and Awards.

DEFENCE

• Indian and Indonesian Navies Conduct Exercise in Arabian Sea
  • The Indian and Indonesian navies carried out Passage Exercise (PASSEX) in the Arabian Sea to enhance operational interoperability and overall cooperation.

• India Successfully Test Fires Helina, Dhruvastra Anti-tank Guided Missiles
  • India successfully test fired indigenously-developed anti-tank guided missile systems 'Helina' and 'Dhruvastra', paving their induction into the Army and the Indian Air Force respectively.

• ICG ship C-453 commissioned in Chennai
  • Indian Coast Guard Ship (ICG) C-453, the 17th of the 18 Interceptor Boats being indigenously built by Larsen & Toubro Ltd., was commissioned in Chennai.

EVENTS

• 11th India-EU Macroeconomic dialogue
  • During the 11th India-EU Macroeconomic dialogue held virtually India and the European Union (EU) expressed hope to forge a host of bilateral cooperation arrangements with a view to boost bilateral trade.

• International Conference on Gender Equality
  • The Gender Campus in Kozhikode, Kerala was inaugurated by Chief Minister of Kerala Pinarayi Vijayan. The ceremony marked the functional launch of projects, programmes and completed facilities at the campus, where the second edition of the International Conference on Gender Equality (ICGEII) was held.

• World Future Fuel Summit 2021
  • World Future Fuel Summit 2021 is India's leading summit and exhibition, which focus on Sustainable Future Fuel for Global Climate Change Challenges, where ideas can be shared with global future fuel energy industry leaders, experts, financers, network and do business with leading companies.

AWARDS AND REWARDS

• Asia Environmental Enforcement Award 2020
  • The Wildlife Crime Control Bureau (WCCB) has received the Asia Environmental Enforcement Award 2020 awarded by the United Nations Environment Programme (UNEP).

• Sanctuary Lifetime Service Award 2020
  • Sanctuary Nature Foundation honours writer, historian, naturalist and activist S Theodore Baskaran with Sanctuary Lifetime Service Award 2020 for his role in wildlife conservation and his continuing legacy of writings in Tamil and English to the conservation discourse.

• 2021 TIME100 Next: TIME Magazine's list of 100 emerging leaders
  • The 2021 TIME100 Next, released by TIME Magzine, is an expansion of TIME’s flagship TIME100 franchise of the most influential people in the world and highlights 100 emerging leaders who are shaping the future.
  • Six Indian-origin personalities featured in TIME magazine’s annual list of 100 “Emerging leaders who are shaping the future".

SPORTS

• Naman Ojha announces retirement from all forms of cricket
  • Former India wicketkeeper-batsman Naman Ojha announced his retirement from all forms of cricket.

• IPL Auction 2021: Chris Morris becomes IPL's most expensive player
  • South Africa’s Chris Morris became the most expensive player ever to play in the history of the IPL.

• South Africa batsman Faf du Plessis retires from Test cricket
  • Faf du Plessis, the South Africa captain, has announced that he is retiring from Test cricket with immediate effect. Du Plessis retires from the format having played 69 Tests for South Africa, scoring 4163 runs at 40.02, including 10 centuries.