Meghalaya Police signs MoU with SBI for Implementation of e-challan

• Meghalaya Police has signed a Memorandum of Understanding (MoU) with State Bank of India (SBI) for implementation of e-Challan in the jurisdiction of Shillong Traffic Police (STP).

• e-Challan system is a digital traffic enforcement solution through which penalties for violators of traffic rules & generation of challans will be carried out digitally.

• The e-Challan system has been integrated with VAHAN & SARATHI, which are the flagship applications of MORTH (Ministry of Road Transport & Highways).

About Meghalaya:

• Festival - Nongkrem Dance Festival, Wangala Festival, Shad Suk Mynsiem Dances - Wangala Dance, Lahoo Dance

About State Bank of India (SBI):

• Chairman- Dinesh Kumar Khara
• Headquarters, Mumbai, Maharashtra
• Founded- July 1, 1955 as SBI
• Tagline- The banker to every Indian; With you all the way; Pure banking nothing else; The nation banks on us; A bank of the common man

IEPF Authority signs MoU with IGNOU for Telecast of IAP

• Investor Education and Protection Fund Authority (IEPF Authority), Ministry of Corporate Affairs signed a Memorandum of Understanding (MoU) with Indira Gandhi National Open University (IGNOU) for collaboration in using the Tele-Lecturing Facility of Gyan Darshan Channel (EMPC - Electronic Media Production Centre) for telecast of Investor Awareness Programmes (IAPs) through distance learning mode.

• This is the 1st time that IEPF Authority is entering into a pact for using electronic and digital platforms for conducting IAPs.

• Initially 26 Tele Lecturing programmes have been planned for telecast

• In September, 2016 the Investor Education and Protection Fund Authority was established for the administration of Investor Education and Protection Fund Government of India under the provisions of section 125 of the Companies Act, 2013.

• Administration of Investor Education Protection Fund (IEPF). Make refunds of shares, unclaimed dividends, matured deposits/debentures

• To promote awareness among investors.

About IEPF Authority:

• Chairperson - Secretary, Ministry of Corporate Affairs (Rajesh Verma)
• Headquarters - New Delhi

About IGNOU:

• Vice-Chancellor - Professor Nageshwar Rao
• Location - New Delhi

Government of India allocates Rs 16000 crore for PMFBY for FY22

• Central Government has allocated Rs 16000 crores for Pradhan Mantri Fasal Bima Yojana (PMFBY) for FY22, an increase of around Rs 305 crore as compared to FY21.

• Launched on January 13, 2016 this scheme was approved by the Government under the aegis of Ministry of Agriculture and Farmers Welfare (MoAFW) as a risk coverage solution with lowest premium for Indian farmers.

• Under this farmers can report crop loss within 72 hours of occurrence of any event through the Crop Insurance App, CSC Centre or the nearest agriculture officer.

Indian Navy's Largest War Game - 'TROPEX 21' underway at the Indian Ocean Region

• Indian Navy's Largest War Game - the Biennial Theatre Level Operational Readiness Exercise (TROPEX 21)' is currently taking place at the Indian Ocean Region (IOR). Operational assets of the Indian Navy as well as Indian Army, Indian Air Force and Coast Guard were participating in the Exercise

• The exercise started in early January 2021 and is expected to end by the Third Week of February, 2021.

• The main objective of the exercise is to validate the Navy's Offensive-Defence capabilities, safeguarding national Interests in the Maritime domain and promoting stability and peace in the IOR.

• It will help in honing the warfighting skills of the force and help in keeping with the theme of being a 'Combat Ready, Credible and Cohesive Force

• The conduct of TROPEX-21 is being supervised by Naval Headquarters with participation from all 3 Commands of Indian Navy & the Tri Services Command headquartered at Port Blair.

• TROPEX 21 is being conducted in 3 phases. It is being done phases to test Indian Navy's transition from peacetime to hostilities.

Phase I - Coastal Defence Exercise Sea Vigil:

• The 2nd Edition of the Biennial Pan-India, Largest Coastal Defence Exercise 'Sea Vigil-21' coordinated by Indian Navy took place from January 12-13, 2021 along the entire 7516 Km coastline of India

• Indian Air Force, Indian Coast Guard (ICG), National Security Guard (NSG), Border Security Force (BSF), oil handling agencies & airports participated in the exercise.

• The exercise was conducted to assess the Strengths and Weaknesses of India's Coastal Defence & Maritime Security

Phase II - Tri-Service Joint Amphibious Exercise - AMPHEX-21:

• Sea Vigil-21 was followed by the Tri-Service Joint Amphibious Exercise - 'AMPHEX-21'

• It took place from January 21-25, 2021 in the Andaman and Nicobar group of Islands.

• Defence Exercise 'KAVACH' for defence of Andaman & Nicobar Islands was also a part of AMPHEX-21 exercise.

• The main objective of the exercise was to validate India's capabilities to safeguard the territorial integrity of Island Territories and increase cooperation and joint warfighting capabilities amongst the 3 services.

Phase III - Weapon Workup Phase of TROPEX:

• The 3rd Phase Weapon Workup Phase of TROPEX has concluded recently.

• During the phase 'on-target ordnance deliveries which included missiles, torpedoes and rockets from frontline warships, aircraft and submarines were demonstrated.

• On January 31, 2021, Indian Navy's long-range maritime reconnaissance aircraft, Ilyushin 38SD successfully fired Combat Kh35E' anti-ship missile as part of TROPEX-21

• The main objective of the phase was to reaffirm the Navy's ability to carry out long range maritime strikes in the IOR.

AGSTTL & Mastercard Partnered to Introduce 1st-Ever 'Contactless' Cash Withdrawals on ATMs in India

• AGS Transact Technologies Ltd (AGSTTL) entered into partnership with Mastercard to introduce First-Ever 'Contactless' Cash Withdrawals on Automated Teller Machines(ATMs) in India. The partnership enables the Mastercard cardholders to withdraw cash at ATMs by scanning the Quick Response(QR) code that is displayed on the ATM screen. The Cardless ATM is powered by Mastercard'.

• The partnership allows Mastercard cardholders to access any participating Bank ATM in India. They can carry out 3 transactions without any additional charges.

• This withdrawal is enabled through Mastercard's Masterpass and AGS QRCash.

• The cardholders of Mastercard can digitally locate the nearest enabled ATM and withdraw cash by scanning a QR code using their banking app on the mobile phone.

• It eliminates the need to insert the physical debit/credit card into the ATM or entering an ATM Personal Identification Number(PIN).

• Masterpass is a digital payment service that allows the customer to check out faster by storing all of your payment and shipping information in one secure location.

About AGS Transact Technologies Ltd (AGSTTL);

• Chairman & MD- Ravi B Goyal
• Headquarters- Mumbai, Maharashtra

About Mastercard:

• Executive Chairman- Ajay Banga
• CEO- Michael Miebach
• Headquarters - New York, United States

GAIL Acquires 5% Stake of Indian Energy Exchange in Indian Gas Exchange

• GAIL (India) Limited has acquired a 5% stake of Indian Energy Exchange Ltd (IEX) in Indian Gas Exchange Ltd (IGX). GAIL becomes the 3rd strategic investor in IGX after Adani Total Gas &Torrent Gas. With this disinvestment, IEX will hold 85% stake in IGX.

• Recently, Adani Total Gas and Torrent Gas acquired 5% stake each in IGX. This was the 1st time stakes of IGX were sold, as it was wholly-owned by the Indian Energy Exchange (IEX). The total 10% stake has been sold for about Rs 7.38 crore

• It is India's first automated national level trading platform for physical delivery of natural gas.

• It is the 1st gas exchange to receive authorization from Petroleum and Natural Gas Regulatory Board (PNGRB) under recently notified Gas Exchange Regulations 2020

• It is an online trading platform to make physical delivery of natural gas and provides a neutral and transparent marketplace to trade.

About GAIL (India) Limited

• Chairman & Managing Director- Manoj
• Headquarters- New Delhi, Delhi

• Director, Rajesh Kumar Mediratta Headquarters-Noida, Uttar Pradesh

Square Kilometre Array - World's Largest Radio Telescope

• Square Kilometre Array Observatory (SKAO) Council held its Maiden Meeting during the meeting they approved the establishment of World's Largest Radio Telescope namely 'Square Kilometre Array'. The telescope will consist of a vast number of radio receivers which will be positioned in South Africa and Australia.

• SKAO is a 10-member intergovernmental organisation dedicated to radio astronomy. The members of SKAO are Australia, Canada, China, India, Italy, New Zealand, South Africa, Sweden, Netherlands and UK. The headquarters of SKAO is situated at the University of Manchester's Jodrell Bank Observatory in Cheshire, United Kingdom. Radio Telescopes are capable of detecting gas and can reveal areas of space which are hidden by cosmic dust.

India, Afghanistan signed MoU for Construction of Lalandar (Shatoot) Dam in Afghanistan

• Central Government has laid the foundation of 2nd dam i.e. Lalandar (Shatoot) Dam, to be built by India in Afghanistan, by signing the virtual Memorandum of Understanding (MOU) between both nations. It will be constructed on the Kabul river basin which is one of the five river basins of Afghanistan.

• This project is partially funded by India and is a part of Indo-Afghan New Development Partnership.

• This dam is the follow up of India built "India- Afghanistan Friendship Dam [Salma Dam)" in Afghanistan which was inaugurated by the PM Narendra Modi and the President Ashraf Ghani in June 2016

About Afghanistan:

• Capital- Kabul
• Currency- Afghan afghani

CCEA approves Grant-in-aid of Rs 100 cr to BVFCL, Assam

• Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister (PM) Narendra Modi has approved Grant-in-aid of Rs. 100 crore to Brahmaputra Valley Fertilizers Corporation Limited (BVFCL), Namrup (Assam) for the strengthening of it's urea manufacturing units.

• This approval has been made on the lines of the proposal of the Department of Fertilizers, Ministry of Chemicals and Fertilizers (MoC&F).

• BVFCL is India's first gas based urea manufacturing unit equipped with relevant infrastructure and feedstock availability. • This grant will restore the urea production capacity of 3.90 Lac MT per annum and ensure timely availability of Urea Tea Industry & Farming Sector in the entire North Eastern region specially Assam.

Govt sets up Nodal Authority for Design and Specifications of Deep-Sea Fishing Vessels

• In order to aid the fisheries department of the states to fast-track the implementation of the Pradhan Mantri Matsya Sampada Yojana (PMMSY), the Central government has set up a nodal authority to frame Approved Standardised Deep-Sea Fishing Vessels (DSFV) Design and Specifications (ASDDS).

• ADDS, promulgated by the Ministry of Ports, Shipping and Waterways, will set up a criterion for basic design aspects for the construction of DSFVS.

• Notably, the vessels constructed in compliance with ASDDS will attract a subsidy under the PMMSY scheme.

• The Nodal Authority will be headed by the director of Kochi, Kerala based Central Institute of Fisheries Technology (CIFT). Its current director is Dr. Chandragiri Nagaraja Rao Ravishankar.

• The representatives are from Cochin Shipyard, Indian Register of Shipping and the Naval Architecture Department of the Indian Institute of Technology (IT), Kharagpur or IIT Madras.

About Pradhan Mantri Matsya Sampada Yojana (PMMSY):

• PMMSY is Central Government's flagship scheme for focused and sustainable development of the fisheries sector with an estimated investment of Rs 20,050 crore for implementation during a five-year period beginning 1 April 2020 in all states/Union Territories, as a part of Aatmanirbhar Bharat package.

• Of this, an investment of about Rs 12,340 crore is proposed for beneficiary-oriented activities in marine, inland fisheries and aquaculture and about Rs 7,710 crore is for fisheries infrastructure.

Indian Navy and IIT Delhi Signs MoU for Research in Underwater Domain of Naval Electronic Systems

• Indian Navy and Indian Institute of Technology(IIT) Delhi signed a Memorandum of Understanding(MoU) to further their relationship on research in the underwater domain of Naval Electronic Systems.

• Since 1970s the the Centre for Applied Research in Electronics (CARE) at IIT Delhi has been developing key technologies for Navy in the field of underwater electronics

About Indian Navy:

• Chief of Naval Staff (CNS), Admiral Karambir Singh
• Integrated Headquarters of Ministry of Defence (Navy)- New Delhi

About Indian Institute of Technology(IIT) Delhi:

• Director- Prof. V Ramgopal Rao
• Location, New Delhi, Delhi

GSL signs MoU with various Industry Partners to expand its capacity

• During the 13th Edition of Aero India Show 2021, Goa Shipyard Limited (GSL) signed 5 Memorandum of Understandings (MoUs) & Agreements with various Industry partners to expand its capacity for Indigenous shipbuilding, ship repair and exports.

• It has signed MoUs with Hindustan Shipyard Ltd (HSL), SeaTech (Singapore), and with Industry representatives of Bangladesh.

• The MoU with HSL, Visakhapatnam will enable GSL to use HSL's utilities for undertaking repair and construction of Indian Navy or Indian Coast Guard Ships.

• It will help GSL to undertake repairs of bigger ships and also enhance the yard capacity.

• GSL signed MoU with SeaTech, Singapore to undertake engineering design work at Research & Development (R&D) Centre of GSL.

About Goa Shipyard Limited ( GSL):

• Chairman & Managing Director - Bharat Bhushan Nagpal
• Location - Vasco Da Gama, Goa

Supreme Court stays dismantling of India's first aircraft carrier INS Viraat

• Supreme Court bench headed by Chief Justice of India (CJI) S A Bobde stayed dismantling of the decommissioned India's first aircraft carrier INS Viraat(world's longest-serving warship), was purchased by Shree Ram Group for a sum of 38.54 crore at an auction conducted by the Metal Scrap Trade Corporation Limited in July 2020 and was proposed to preserve it as a maritime museum.

• This aircraft carrier was inducted into the Indian Navy in 1987 and decommissioned in 2017.

IRDAI panel okays the launch of Index-Linked Insurance Policies

• The Working Group Committee (WGC) set up by the Insurance Regulatory and Development Authority of India (IRDAI) has recommended the introduction of index-linked insurance policies (llips). The report is opened for comments till March 8, 2021

• The committee has been formed in August 2020 under Dinesh Pant, Appointed Actuary of the Life Insurance Corporation (LIC) of India on the lines of the requests from insurers for reintroducing ilips. It was banned by IRDAI in 2013.

• With this, the new product ILIP will join the other two life insurance categories viz. unit-linked insurance plans (ULIP) and traditional plans.

• Index linked policies are subject to change as the returns are linked to the benchmark indices such as the 10-year Sovereign Bond Index, Sensex or Nifty. If it is linked with Government bonds then it is less risky and those that are linked to the equity based indices mostly in returns have fluctuations based on the performance of the stock market.

• The index-linked insurance plan provides a lock-in period of five years.

• The ILIPs can be regarded as a life insurance policy under Section 10(10D) and taxability of the Insurance Policy Act. About Insurance Regulatory and Development Authority of India (IRDAI):
• Chairman - Subhash Chandra Khuntia
• Headquarters - Hyderabad, Telangana

SIDBI, COWE launch 'Swavalamban Sashakt' to promote Stand-Up India Scheme

• Small Industries Development Bank of India (SIDBI) and Confederation of Women Entrepreneurs of India (COWE) have launched "Swavalamban Sashakt- Mega campaign" to encourage and to create awareness about the Stand Up India (SUI) scheme of Central Government.
• The Swavalamban Sashakt is a 20 webinar series to give a fillip to 'Stand Up India scheme.

• The webinar series will be held every Wednesday at 3 pm on different franchise models. All stakeholders can interact in it.

About Stand-Up India (SUI) scheme:

• Launched in 2016, The scheme is a flagship programme launched by Prime Minister Narendra Modi to facilitate bank loans between Rs 10 lakh and Rs 100 Lakh (1 crore) to at least one scheduled caste (SC) or scheduled tribe (ST) borrower and at least one woman borrower per bank branch. The loan will be provided for setting up greenfield enterprise in manufacturing, services or the trading sector. The scheme has been extended up to FY2025.

• In case of non-individual entities at least 51% of the shareholding should be held by either SC/ST or woman

Eligibility:

• Minimum Age- 18 years
• Repayment Period : Maximum of 7 years (including moratorium period upto 18 months)

• Zero default history of borrowers to any bank/financial institution.

About Small Industries Development Bank of India (SIDBI):

• Establishment - 1990
• Deputy Managing Director-V Satya Venkata Rao Headquarter- Lucknow, Uttar Pradesh (UP)

About Confederation of Women Entrepreneurs of India (COWE):

• It is a Not for Profit Business Organization under Section 25 of Company Law initiated in 2004
• Headquarter- Hyderabad, Telangana

RBI Restricts Withdrawals from Independence Cooperative Bank

• The Reserve Bank of India (RBI) in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation (BR) Act, 1949 read with Section 56 of the BR Act, 1949 has issued certain Directions to Independence Co-operative Bank Limited based in Nashik, Maharashtra due to it's present liquidity position.

• These directions will remain in force for a period of six months w.e.f. February 10, 2021.

• In accordance to the directions, the Chief Executive Officer (CEO) of the bank is restricted on the following:

• To grant or renew any loans and advances without prior approval of RBI in writing.

• Make any investment Incur any liability including borrowal of funds and acceptance of fresh deposits

• Disburse any payment whether in discharge of its liabilities and obligations or otherwise Enter into any compromise or arrangement and sell or transfer

PNB, IOCL sign 1st of its Kind MoU for providing up to INR 2 Crore Loan to Dealers

• Punjab National Bank (PNB) has signed a First-of-its-kind Memorandum of Understanding (MoU) with Indian Oil Corporation Ltd (IOCL) for providing up to INR 2 Crore Loan to Indian Oil dealers through the PNB e-Dealer scheme (PNB electronic dealer finance scheme).

• Under the scheme Dealers can avail loan of upto INR 2 Crore at lower interest rates, nil margin and with minimum or Zero Collateral requirements.

• Collateral Security will not be asked to Individuals who are having dealerships with Indian Oil for 5 years or more.

About Indian Oil Corporation Ltd (IOCL):

• Chairman - Shrikant Madhav Vaidya
• Headquarters - New Delhi

About Punjab National Bank (PNB):

• Managing Director & CEO - SS Mallikarjuna Rao
• Headquarters - New Delhi Established – May 19, 1894
• Tagline - The name you can bank upon

ICC Announced BYJU's as Global Partner from 2021 - 2023

• The International Cricket Council (ICC) announced BYJU's as its global partner from 2021 to 2023. Under the 3-year agreement BYJU's will partner all the events of ICC from 2021 to 2023, including the Men's T20 World Cup in India, and the ICC Women's Cricket World Cup in New Zealand.

• Under this partnership BYJU's will have extensive in-venue, broadcast, and digital rights to all ICC events. BYJU's became the official jersey partner of Indian Cricket team in August 2019.

Bollywood Actor Rajiv Kapoor Passed Away at 58

• Bollywood Actor, Director and film producer Rajiv Kapoor passed away at the age of 58 in Chembur, Mumbai, Maharashtra. He was the son of veteran filmmaker Raj Kapoor and brother of Rishi Kapoor and Randhir Kapoor. Rajiv Kapoor is also known as "Chimpu".

• Rajiv Kapoor made his debut as an actor in the film "Ek Jaan Hain Hum" in 1983.

• Ram Teri Ganga Maili the 1985 film directed by Raj Kapoor is one of his most credited movies.