Current Affairs 5 February 2022

We are here for you to provide the important Recent and Latest Current Affairs 5 February 2022, which have unique updates of Latest Current Affairs 2021 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Ministry of Tourism Included Punaura Dham under PRASHAD Scheme The Ministry of Tourism has included the destination of Punaura Dham in Sitamarhi in the Ramayana Circuit of Swadesh Darshan Scheme. The Punaura Dham has been included under the PRASHAD Scheme (Pilgrimage Rejuvenation And Spiritual, Heritage Augmentation Drive) of the Ministry of Tourism, Government of India.
This was proposed by the State government of Bihar.
Punaura Dham:
i.Punaura Dham, located in Punaura village, is the birthplace of Goddess Sita. 
ii.The shrine compound includes a Ram Janaki Temple and a pond called Sita Kund and a Hall. 
Projects approved under the PRASHAD Scheme:
i.Thirthankar Circuit in Vaishali- Arrah- Masad- Patna- Rajgir- Pawapuri- Champapuri under Jain theme. 

• The development of the circuit was approved in the year 2016-2017 at the cost of Rs 37.20 Crore, as of today, around Rs 26.11 Crore has been released. 

ii.Spiritual Circuit at Sultanganj – Dharamshala – Deoghar under Spiritual theme. 

• The development of the circuit was approved in the year 2016-2017 at the cost of Rs 44.76 Crore, as of today, around Rs 42.52 Crore has been released. 

iii.Buddhist circuit:

• The development of the Buddhist circuit and the construction of a convention centre at Bodh Gaya at the cost of Rs 98.73 Crore was approved in 2016-2017. An amount of Rs. 93.22 Cr. has been released till date.

iv.Gandhi Circuit at Bhitiharwa – Chandrahia – Turkaulia under Rural theme 

• The development of the Gandhi Circuit at a cost of  Rs. 44.65 Crore was approved in 2017-2018. An amount of Rs. 35.72 Cr. has been released till date.

v.Pilgrimage Circuit in Mandar Hill & Ang Pradesh under Spiritual theme

• The development of Pilgrimage Circuit at a cost of Rs. 47.53 crore was approved in 2017-18. An amount of Rs. 38.02 Cr. has been released till date.

About PRASHAD scheme:
i.PRASAD scheme (Pilgrimage Rejuvenation And Spiritual Augmentation Drive) was launched in 2014-2015 under the Ministry of Tourism, Government of India.
ii.The name of the scheme was changed from PRASAD to “National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD)” in October 2017.
iii.The scheme focuses on developing and identifying pilgrimage sites across India for enriching the religious tourism experience.
Aim:

• To promote the development and promotion of religious tourism in India. 
• To integrate pilgrimage destinations in a prioritised, planned and sustainable manner to provide a complete religious tourism experience.

GAIL Starts India’s First Project of Mixing Hydrogen into Natural GasGAIL(India) Limited (Formerly known as Gas Authority of India Limited) has started India’s maiden project of mixing hydrogen into the natural gas system at Indore, Madhya Pradesh (MP).

• The hydrogen blended natural gas will be supplied to Avantika Gas Limited, one of GAIL’s Joint Venture (JV) companies with Hindustan Petroleum Corporation Limited (HPCL) in Indore, MP.

About the Project:
i.This is a pilot project which is in line with the National Hydrogen Mission, for establishing the techno-commercial feasibility of blending hydrogen in the City Gas Distribution (CGD) network and moving towards a hydrogen-based and carbon-neutral future.
ii.This pilot project would help in the creation of a standard and regulatory framework in India to cover the aspects of injecting hydrogen into natural gas.
iii.GAIL started injection of grey hydrogen at City Gate Station (CGS), Indore, MP which would replace green hydrogen.
Types of Hydrogen:
i.Blue hydrogen – It is when natural gas is split into hydrogen and Carbon-di-oxide (CO2). The CO2 is then captured and stored.
ii.Grey hydrogen – This is a similar process to blue hydrogen but the CO2 is not captured and is released into the atmosphere.
iii.Green hydrogen – This is the hydrogen produced by splitting water by electrolysis using electricity from renewable energy sources such as wind or solar that produces only hydrogen and oxygen. The hydrogen is used and oxygen is released into the atmosphere with no negative impact.
India’s Commitment towards clean energy:
i.India has committed to achieving net-zero carbon emissions by 2070. Hydrogen and  renewable energy will be the key to achieve the goal.

• The government plans to raise the share of natural gas in the primary energy basket to 15 percent by 2030 from the current 6.2 percent.

About Nation Hydrogen Energy Mission (NHEM):
The Union Finance Minister Nirmala Sitharaman launched the National Hydrogen Energy Mission (NHEM) during the Union Budget 2021-2022 for generating hydrogen from green energy.

• Aim – To cut down carbon emissions and increase the use of renewable sources of energy.
• The launch of NHEM transforms India into a global hub manufacturing of hydrogen and fuel cell technologies.

About GAIL(India) Limited:
Establishment – 1984
Headquarters – New Delhi, Delhi
Chairman & Managing Director (CMD) – Manoj Jain

BANKING & FINANCE

PNB, Patanjali launch Contactless Credit Cards in partnership with NPCIPunjab National Bank (PNB), and Patanjali Ayurved Limited (PAL) have launched two co-branded contactless credit cards in partnership with the National Payments Corporation of India (NPCI) viz. PNB RuPay Platinum and PNB RuPay Select. These will be offered on NPCI’s RuPay Platform.

•         Contactless credit cards have an embedded chip that permits you to make transactions by placing your card within a few inches of the PoS terminals.

Benefits of Newly Launched Cards:
Customers will get many benefits and spend-based waivers through these cards which include the following:
i.A welcome bonus of 300 reward points on activation.
ii.Purchase of Patanjali products will attract cash backs @2% for transactions above Rs 2500 (Maximum Rs 50 per transaction), loyalty points, insurance cover, and more.
iii.Complimentary domestic and international airport lounge access, PNB Genie Mobile Application for card management, addon card facility, lucrative reward points on spends, along with cash advance/revolve, EMI (Equated Monthly Installment), and auto-debit facilities.
Credit Limit:
PNB RuPay Platinum– Rs 25,000 to Rs 5 lakhs
PNB RuPay Select– Rs 50,000 to Rs 10 lakhs
Insurance Cover:
PNB RuPay Platinum– Insurance cover of Rs 2 lakhs for Accidental Death and Personal Total Disability
PNB RuPay Select– Insurance cover of Rs 10 lakhs for Accidental Death and Personal Total Disability
Joining Fees:
PNB RuPay Platinum– Zero joining fee and an annual fee of Rs 500,
PNB RuPay Select– Joining fee of Rs 500 and an annual fee of Rs 750.
The annual fees will be waived off if card is used at least once in each quarter in the preceding year.

RBI Cancels Licence of Maharashtra-Based Independence Co-operative BankThe Reserve Bank of India (RBI), has cancelled the licence of Independence Co-operative Bank Limited in Nashik, Maharashtra and ceases to carry on banking business, with effect from 3rd February 2022, as the bank does not have adequate capital and earning prospects to pay its present depositors in full. 
Causes for Cancellation:
i.The bank does not comply with the provisions of Section 11(1) and Section 22 (3) (d) read with Section 56 of the Banking Regulation Act, 1949.
ii.The bank has failed to comply with the requirements of Sections 22(3) (a), 22 (3) (b), 22(3)(c), 22(3) (d) and 22(3)(e) read with Section 56 of the Banking Regulation Act, 1949;
iii.The continuance of the bank is prejudicial to the interests of its depositors.

• Following the cancellation of the licence, the bank is prohibited from conducting the ‘banking’ business (including acceptance of deposits and repayment of deposits) as defined in  Section 5(b) read with Section 56 of the Banking Regulation Act, 1949.

Credit issue to the Bank’s Depositors (Under DICGC Act, 1961):
i.On liquidation, every depositor will receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs. 5,00,000 (Rupees Five lakh only) from Deposit Insurance and Credit Guarantee Corporation (DICGC) subject to the provisions of the DICGC Act, 1961. 
ii.As on January 27, 2022, DICGC has disbursed Rs. 2.36 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act,1961 based on the willingness received from the concerned depositors of the bank.
What is Liquidation?
It is the process of converting a company’s assets into cash and using those funds to repay the company’s debts as much as possible.
About Deposit Insurance and Credit Guarantee Corporation (DICGC):
Establishment – July 15, 1978
Headquarters – Mumbai, Maharashtra
Chairman – M. D. Patra

LIC & Policybazaar partners for Digital Distribution of Life Insurance ProductsOn 3rd February 2022, Life Insurance Corporation of India (LIC) and Policybazaar.com made an alliance to digitally offer a wide range of Life Insurance and investment products to its customers across India. This is LIC’s first association with a private insurance aggregator, which has mainly relied on its 1.33 million agents for distributing products.
Objective: 
To  facilitate seamless digital distribution of life insurance products and boost financial inclusion across India.
Key points:
i.The alliance will provide insurance services in  smaller cities to ensure financial inclusion and social security.
ii.It will increase its penetration digitally in rural and remote areas and offer a wide range of term and investment products to the customers.
iii.Policybazaar.com, the flagship platform of PB Fintech Limited, is the largest online insurance marketplace in India. 

• It  distributes products of 51 insurance companies including life, general, and standalone health insurance companies.

About Policybazaar.com:
CEO – Sarbvir Singh
Headquarters – Gurugram, Haryana
Founded – 2008
About Life Insurance Corporation (LIC):
Chairperson- M R Kumar
Headquarters- Mumbai, Maharashtra

Kotak General Insurance ties up with CARS24 to provide Motor Insurance for Used CarsKotak Mahindra General Insurance Company Limited signed an agreement with Cars24 Financial Services Private Limited (CARS24 Financial Services) to provide motor insurance services to used car buyers.
Key points:
i.Under the partnership, used car buyers from Cars24 will be directly provided with Kotak General Insurance’s comprehensive motor insurance plans.
ii.The partnership will provide a trustworthy and faster way to avail motor insurance with a fully digital insurance process.
iii.Customers can also avail cashless claims servicing at Kotak General Insurance’s platform of garages and enable convenient claim settlement services.
About Kotak Mahindra General Insurance Company Ltd:
MD & CEO- Suresh Agarwal
Headquarters- Mumbai, Maharashtra 
About Cars24 Financial Services Private Limited:
i.CARS24 Financial Services Private Limited is a professionally managed Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India(RBI)
ii.It is a wholly-owned subsidiary of CARS24 Services Private Limited.
Headquarters– Gurugram, Haryana

Government Undergoes Switch Operation of Rs.1,19,701 CroreThe Government of India (GOI) has done a conversion switch transaction of its securities with the Reserve Bank of India (RBI) on January 28, 2022 for an amount of Rs. 1,19,701 crore (face value).

• Objective – The GOI undertakes switch operations with RBI and also with market participants to smoothen the liability profile as well as for market development.

About the Transaction:
i.The transaction involved buying back securities that are being matured in FY 2022-23, FY 2023-24 and FY 2024-25 from the RBI and also issuing fresh securities for equivalent market value, to make the transaction cash neutral.

• The transactions were carried out using Financial Benchmarks India Private Limited (FBIL) prices as on January 28, 2022.

What is GoI’s switch/conversion transaction?
The switch transactions is made with an objective of smoothening the liabilities (money) that should be given by the banks to the individual or an organisation using Financial Benchmarks India Private Limited 
About Reserve Bank of India:
Establishment – 1st April 1935 (under the Reserve Bank of India Act, 1934)
Headquarters – Mumbai, Maharashtra
Governor – Shaktikanta Das
Deputy Governors – Mahesh Kumar Jain, Michael Debabrata Patra, M.Rajeshwar Rao, T.Rabi Sankar 

ECONOMY & BUSINESS

‘Tata Sky’ Rebrands Itself as ‘Tata Play’

Tata Sky, one of the largest Direct to Home (DTH) platforms, has rebranded itself as ‘Tata Play’ to expand its television-cum-OTT (Over-The-Top) offerings in combined packages. Tata Play has added Netflix to 13 OTT services, including Amazon Prime Video and Disney+Hotstar, as part of its ‘Binge packs’.

• Tata Play Limited is a joint venture(JV) between Tata Sons and TFCF Corporation (formerly known as Twenty-First Century Fox, Inc.) and is now a part of the Walt Disney Company.
• Tata play was incorporated in 2001 and launched its services in 2006.
  
• The logo has been created by Venturethree, London, and the campaign has been designed by Ogilvy India.

Samsung Surpasses Intel As World’s Top Semiconductor Company in 2021According to the report released by Counterpoint Technology Market Research, South Korean electronics manufacturing giant, Samsung Electronics replaced United States (U.S) chipmaker Intel’s first position in World’s Top Semiconductor Company in 2021

• Samsung took the lead for its solid growth momentum in both logic Integrated Circuit (IC) and memory chip segments with a strong dynamic random access memory (DRAM) and NAND flash market performance in 2021.

Top 3 Enterprises:
1.Samsung
2.Intel
3.SK Hynix
Highlights:
i.Major smartphone SoC (system on chip) and Graphics processing unit (GPU) vendors had strong growth in 2021with over 50 percent (year-on-year (YoY)) revenue increase.
ii.The research holds that 27 percent YoY revenue growth among the top 15 vendors, outperforming global semiconductor revenue growth and implying another year of the centralised semiconductor industry.
About Semiconductor Industry:
i.The Semiconductor industry saw significant structural changes in 2021 after entity lists were announced by both China and the US.
ii.Intel Chief Operating Officer (CEO) Pat Gelsinger has suggested that the chip shortage would not end until at least 2023.
Others:
i.Memory vendors continued to lead the industry with SK Hynix in 3rd position and Micron in 4th position, followed by IC design vendors, including Qualcomm and NVIDIA
ii.High-performance computing, metaverse (Augmented Reality /Virtual Reality/ Extended Reality), 5G and automotive remains key growth drivers for the industry.
About Samsung:
Establishment – 1969
Headquarters – Suwon-si, South Korea
Vice-Chairman & CEO – Kim Ki Nam  

AWARDS & RECOGNITIONS       

Republic Day Parade 2022: Uttar Pradesh Selected As Best State Tableau , Maharashtra won Popular Choice AwardOn 4th February 2022 Uttar Pradesh (UP) was selected as best state tableau of 73rd Republic Day parade 2022 on Rajpath along with Maharashtra (MH) that won in popular choice category and the Central Industrial Security Force (CISF) was named as the best marching contingent among Central Armed Police Forces (CAPF). 
Highlights of the winners:
i.The tableau of UP has been selected as the best tableau among the 12 States/UTs.
ii.In the Best Central Ministries/Departments, a total of 9 tableaux of Central Ministries/Departments had participated in the parade.
iii.MH took first place in the best state tableau under people’s choice awards.

• The Indian giant squirrel found in the Sahyadri mountains, a new spider species named after Mumbai policeman Tukaram Ombale who captured terrorist Ajmal Kasab during the 26/11 attack, were featured in the tableau of Maharashtra.

>> Read Full News

SPORTS

IOC approves inclusion of Surfing, Skateboarding & Sport Climbing in 2028 Olympics at Los Angeles The International Olympic Committee (IOC) approved a proposal to include Surfing, Skateboarding and Sport Climbing for the 2028 Summer Olympics Games that will be organized in Los Angeles (LA), United States (US).
Highlights:
i.The 2028 Summer Olympics are officially known as  the Games of the XXXIV Olympiad, or Los Angeles 2028 is a forthcoming event scheduled to take place from July 21 – August 6, 2028, in Los Angeles, California, US.
Note –The 2024 Summer Olympics games will be organized in Paris, France. With this Paris becomes the second city to host 3  Summer Olympic games.
Los Angeles is set to become the 3rd city (following London and Paris, respectively) to host three Olympic Games.
ii.Surfing , Skateboarding and Sport Climbing had made their Olympic debut in Tokyo Olympics 2021 and will also be included in the “additional” list for Paris in 2024.
iii.Boxing, weightlifting and modern pentathlon also have the chance to be included in upcoming Olympics games.
About International Olympic Committee (IOC):
President-Thomas Bach
Headquarters– Lausanne, Switzerland
Founded- 1894

Odisha Open 2022: Unnati Hooda Becomes Youngest Women’s Singles Title; Kiran George won Men’s Singles TitleIndian Shuttler Unnati Hooda(14-year-old) from Rohtak, Haryana, won the Badminton Women Singles title at the Odisha Open 2022, a Badminton World Federation(BWF) Super 100 tournament held at Jawaharlal Nehru Indoor Stadium, Cuttack, Odisha from 25th to 30th January 2022. 

• She has become the youngest Indian to win a BWF Super 100 Tournament. She won the title defeating Smit Toshniwal.
• India’s Kiran George from Kochi, Kerala has won the men’s singles at the Odisha Open 2022. 

About Odisha Open:
i.Odisha Open 2022, the first edition of Odisha Open, was the 3rd tournament of the 2022 BWF World Tour. 
ii.The tournament was organised by the Badminton Association of India (BAI) with sanctions from the Badminton World Federation(BWF).
iii.The total prize money for the Tournament was USD 75000. 
Odisha Open 2022 Winners:

OBITUARY

Former Greek President Christos Sartzetakis passes awayFormer President of Greece Christos Sartzetakis passed away at the age of 92 years due to respiratory failure in Athens, Greece. 
i.Christos Sartzetakis was born on 6 April 1929 in Thessaloniki, Greece.
ii.He was a Greek jurist and a judge of the Supreme Court, who resisted against the militants during the 1967-1974 Rule of the Colonels.
iii.He served as the President of Greece for a four year term (1985 to 1990), after getting nominated by the socialist PASOK party.

IMPORTANT DAYS

World Cancer Day 2022 – February 4

World Cancer Day is annually observed across the globe on 4th February to create awareness about Cancer and prevent the millions of deaths due to cancer. The day also aims to educate the general public about cancer.

• The Campaign theme of World Cancer Day for 2022 to 2024 is “Close the Care Gap”.
• The Campaign theme of World Cancer Day 2022 is “Close the Care Gap- Realising the problem”.

The theme aims to raise awareness about the difference between cancer care and prevention of cancer that can be availed by people from different sections of society. 
Background:
i.World Cancer Day is an initiative of the Union for International Cancer Control (UICC), the largest and oldest international cancer organisation.
ii.World Cancer Day was initiated on 4th February 2000 at the World Summit Against Cancer for the New Millennium in Paris. 
iii.The Charter of Paris has recognised the 4th February of every year as World Cancer Day. 
About Union for International Cancer Control (UICC):
CEO– Cary Adams
Headquarters– Geneva, Switzerland
>> Read Full News

International Day of Human Fraternity 2022 – 4th February

The United Nations(UN)’s International Day of Human Fraternity is annually observed across the globe on 4th February to honour religious and cultural diversity. The day also focuses on interfaith harmony, dialogue, and mutual respect.

The day aims to promote dialogue among different religious groups and to increase the understanding of common values shared by all human beings. 

• 4th February 2022 marks the observance of the 2nd International Day of Human Fraternity. 

Background:
i.United Nations General Assembly(UNGA) has adopted the resolution A/RES/75/200 on 21st December 2020 and proclaimed the 4th February of every year as the International Day of Human
Fraternity. 
ii.The first ever International Day of Human Fraternity was observed on 4th February 2021. 
>> Read Full News

World Interfaith Harmony Week Commemorated – 1-7 February 2022

The United Nations (UNs) observe World Interfaith Harmony Week (WIHW) as an annual event during the first week of February (1-7 February).

• WIHW 2022 also observed from February 1 to 7,2022 with the theme “Faith and Spiritual Leadership to Combat Stigma and Conflict During Pandemic Recovery”.
• Aim – To promote cultural peace and nonviolence. 

Background:
i.The WIHW  was first proposed at the UNGA on September 23, 2010 by H.M. King Abdullah II of Jordan.
ii.On October 20, 2010, UN unanimously adopted the first week of February as a WIHW through the resolution UNGA A/RES/65/5.
>> Read Full News

STATE NEWS

Karnataka & Ather Energy signs MoU to establish 1000 fast-charging stations for electric 2-wheelersThe government of Karnataka and the Ather Energy and Electric Supply Companies (ESCOMs) has signed the Memorandum of Understanding(MoU) to set up 1000 fast-charging stations for electric 2-wheelers.
Ather Energy will provide free-charging services for electric vehicle (EV) two-wheelers.
Signatories:
The MoU was signed by Tarun Mehta, Managing Director, CEO, co-founder of Ather Energy and Rajendra Cholan Managing Director of Bangalore Electricity Supply Company Limited (BESCOM) at the Chief Minister’s office (CMO) office.
Key Points:
ESCOMs will be the nodal agency to provide the technical support and government agencies will coordinate with the ESCOMs to share their available spaces for the charging stations. 

Rahul Gandhi Launches financial assistance scheme for Landless Labourers in Chhattisgarh

Congress leader Rahul Gandhi launched the “Rajiv Gandhi Grameen Bhumiheen Krishi Mazdoor Nyay Yojana”, financial assistance scheme of the Chhattisgarh government for landless labourers of rural areas of Chhattisgarh.  This is the first-of-its-kind scheme in India for which the state government had made a provision of Rs 200 crore in the budget for the financial year 2021-22.
The scheme was launched during the function organised in Science College Ground in Raipur, Chhattisgarh during his visit to Chhattisgarh.

• He also launched the “ ‘Rajiv Yuva Mitan Club’scheme” at the function and provided financial assistance of Rs 25000 to its beneficiaries. 

About the Rajiv Gandhi Grameen Bhumiheen Krishi Mazdoor Nyay Yojana:
Under the financial assistance scheme, financial assistance of Rs 6000 per year in 3 installments will be provided to the registered labourers in rural areas who do not possess agricultural land. 
Around 3.55 lakh beneficiaries of the scheme received Rs 2,000 each in their bank accounts as the first instalment under the plan.
About Rajiv Yuva Mitan Club’scheme:
The Scheme aims to connect young people of Chhattisgarh with creative works, developing leadership skills and making them aware of their social responsibilities.
Under the scheme, 13,269 clubs will be formed in panchayats and urban civic bodies
The young people aged between 15 to 40 years will take part in these clubs. 
Additional info:
Rahul Gandhi has also laid the foundation stone of a memorial with an eternal flame to be built here at the 4th battalion of Chhattisgarh Armed Force for soldiers and security personnel martyred in the line of duty as well as of ‘Gandhi Sevagram’ ashram in Nava Raipur.

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