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AFFAIRSCLOUD TODAY
Current Affairs 9 February 2021 : Headlines
1. Ladakh UT, LAHDC & ONGC Energy Centre sign Tripartite Agreement to establish India’s 1st Ever
Geothermal Project in Puga, Ladakh
2. PM Modi Unveiled Postage Stamps on Diamond Jubilee of Gujarat High Court
3. PM Narendra Modi visit to Assam and West Bengal
4. India & Nepal Inaugurated the Newly Constructed 108Km Road Connecting Indo-Nepal Border
5. AEPL Enters into a Framework Agreement with MiG For Post-Warranty Support to Indian Navy
fighter Jets
6. Triton Electric Vehicle Signs MoU with BEL for Developing EVs and ESS
7. India’s Nominal GDP Growth to Rise to 17% in FY22: Moody’s
8. Highlights of Monetary Policy Committee (MPC) on Feb 5, 2021
9. Praveen Sinha IPS of Gujarat Cadre appointed as acting chief of CBI
10. Bellatrix Aerospace is building a ‘space taxi’ for satellites
11. Former New Zealand Cricketer Bruce Taylor Passed Away at 77
12. Indian Tennis Legend & Former Davis cup coach Akhtar Ali passed away 83
13. A book titled “Platform Scale: For A Post-Pandemic World” Authored by Sangeet Paul Choudary
14. Former Vice President of India Hamid Ansari Authors a Book Titled, ‘By Many a Happy Accident:
Recollections of a Life’
15. Delhi Cabinet Approves ‘Mukhyamantri Vigyan Pratibha Pariksha’, a Science Scholarship
Scheme
16. Union Finance Minister Nirmala Sitharaman Attended the 3rd Phase of Chah Bagicha Dhan
Puraskar Mela in Guwahati
17. Manipur CM N. Biren Singh Launched a New Range of Packaged Organic Products and
LoumiConnect App

NATIONAL AFFAIRS
Ladakh UT, LAHDC & ONGC Energy Centre sign Tripartite Agreement to establish India’s 1st Ever
Geothermal Project in Puga, Ladakh
On February 6, 2021, Union Territory (UT) Administration of Ladakh, Ladakh Autonomous Hill Development Council
(LAHDC)-Leh and Oil and Natural Gas Corporation (ONGC) Energy Centre have signed a Memorandum of
Understanding (MoU) to establish India’s 1st ever Geothermal Field Development Project in Puga Village of
Eastern Ladakh (UT Ladakh). ONGC Energy Centre will be the implementing agency of the project.
Ravinder Kumar, Administrative Secretary of Ladakh Power Development Department & Sachin Kumar Vaishya, Chief
Executive Officer (CEO) of LAHDC signed the MoU with ONGC Energy Centre.
i.According to an analysis by a Team of Researchers in 2018, Puga village showed high potential for Geo-Thermal
Energy
• Puga shows geothermal activity in the form of hot springs, mud pools, sulphur and borax deposits.
• The project will help Ladakh for sustainable development and to attain the goal of carbon-neutral Ladakh.
The list of benefits of the projects are
• Energy from the project will be used for giving round-the-clock power supplies to neighbouring villages
• Hot Water from the springs will be used for space-heating
• Constructing hot swimming pools to attract tourists
• The development of geothermal potential will be useful during winter months, as Ladakh’s hydropower
stations are shut or work at lower efficiencies due to low flow rates.
ii.The Pilot project will be implemented in 3 Phases
• In Phase-1, 1 MW (megawatt) power generation capacity will be generated and 100% free power will be
supplied to the general public.
• Phase-2 will involve deeper and lateral exploration of geothermal reservoirs by drilling required numbers of
wells & establishing a high capacity demo plant in Ladakh.
• Phase-3 Based on the discovered capacity it will be transformed into a commercial project.
iii.The capacity of the Geo-thermal project is expected to be raised to 200 MW in future.
Geothermal Energy:
• Geothermal Energy is Renewable as it generates power from the heat emerging out of Earth’s interior.
• Unlike Solar and Wind energy, it is available 24 hours a day & 365 days a year.
• It also emits 80% less greenhouse gases compared to coal and oil.
Recent Related News:
i.On 4th July 2020, Radha Krishna Mathur, Lieutenant Governor of Ladakh launched Mission Organic Development
Initiative (M.O.D.I) and Greenhouse Project, to lead the Union Territory on a sustainable path, over a virtual platform
from Raj Niwas, Ladakh.
About Ladakh
Lieutenant Governor– Radha Krishna Mathur
Capital– Leh, Kargil

About ONGC Energy Centre:

Chairman & Managing Director – Shashi Shanker
Headquarters – New Delhi
PM Modi Unveiled Postage Stamps on Diamond Jubilee of Gujarat High Court

On 6th February 2021, Prime Minister Narendra Modi virtually inaugurated the event organised to mark the
Diamond Jubilee of the Gujarat High Court and unveiled the commemorative Postage Stamps to mark the completion
of 60 years of establishment of the High Court of Gujarat on May 1 2020. Vikram Nath is the Current Chief Justice of
Gujarat High Court.
The event which was scheduled to take place in 2020 was postponed due to the COVID-19 pandemic.
Key People:
Ravi Shankar Prasad, Union Minister of Law & Justice; Judges of Supreme Court and High Court of Gujarat, Vijay
Rupani, Chief Minister of Gujarat along with the members of the law fraternity participated in the event.
Judicial Reforms:
i.Around 18000 courts in India have been computerized and the Supreme Court’s approval on the legal sanctity to
tele-conferencing and video conference has created a new momentum to the e-proceedings in the courts.
ii.The e-filing of cases, Unique identification code and QR codes for cases led to the establishment of the National
Judicial Data Grid which enables the lawyers and the litigants to get updates about the cases.
Note – The Gujarat high court was established on 1st May 1960, as a result of bifurcation of the former State of
Bombay into two States of Maharashtra and Gujarat.
About Gujarat:
Airports– Sardar Vallabhbhai Patel International Airport, Dholera International Airport, Surat Airport, Govardhanpur
Airport or Jamnagar Airport, Shyamji Krishna Verma Bhuj Airport, Porbandar Airport, Bhavnagar Airport,
Ankleshwar Airport, Kandla Airport.
Stadium– Sardar Patel Stadium, Madhavrao Scindia Cricket Ground, IPCL Sports Complex Ground, Moti Bagh
Stadium
PM Narendra Modi visit to Assam and West Bengal

The Prime Minister Narendra Modi visited the states of Assam and West Bengal on February 7, 2021. In Assam he laid
the Foundation Stone of two hospitals and launched ‘Asom Mala’ while in West Bengal he dedicated to the Nation and
laid the Foundation Stone of key infrastructure projects in its Haldia city.
Here are the details:
–Visit in Assam
Launch of Asom Mala: It is a programme aimed at improving state highways and major district roads network with
emphasis on effective maintenance through continuous field data collection and its linkage with the Road Asset
Management System. It will interconnect economic growth centers with transportation corridors and improve inter-
state connectivity.
Foundation Stone of two medical colleges: The PM laid the Foundation Stone of two medical colleges and hospitals
worth Rs 1100 crore, which are being set up at Biswanath and Charaideo.

• Each hospital will have 500 bed capacity and 100 MBBS seats capacity.
• The establishment of medical colleges and hospitals is on the lines to make Assam a hub for tertiary care and
medical education for the entire North Eastern region (NER). It will also mitigate the shortage of doctors in the
State.
–Visit in West Bengal:

In West Bengal the Prime Minister launched the projects on the lines of vision of Purvodaya, which envisages
driving growth of Eastern India. Following the new projects:
LPG import terminal: The PM dedicated to the nation the Liquefied petroleum gas (LPG) import terminal built
by Bharat Petroleum Corporation Limited with an outlay of Rs. 1100 crore and has a capacity of 1 Million Metric
Tonne Per Annum. It will cater to the growing requirement of LPG in West Bengal and other states in Eastern and
NER.LPG coverage in West Bengal has more than doubled from 41% to 99% in the last six years.
Dobhi – Durgapur Natural Gas Pipeline section: He also dedicated 348 km Dobhi – Durgapur Natural Gas Pipeline
section worth around Rs. 2400 crore to the nation as a part of the Pradhan Mantri Urja Ganga project and ‘one
nation, one gas grid’.
• The pipeline will help revival of HURL Sindri (Jharkhand) fertilizer plant, supply gas to Matix Fertilizer Plant in
Durgapur (West Bengal) and cater to gas demand of industrial, commercial and automobile sectors, and city
gas distribution across all major towns in the State.
Catalytic-Isodewaxing: He launched the second Catalytic-Isodewaxing unit of Haldia Refinery of Indian Oil
Corporation. This unit will have a capacity of 270 Thousand Metric Tonne per annum, and once commissioned, is
expected to result in a saving of about US$ 185 Million in foreign exchange.
4 Lane ROB-cum-Flyover: The PM dedicated to the nation the 4 Lane ROB-cum-Flyover at Ranichak, Haldia on NH
41. It has been built at the cost of Rs 190 crore. The commissioning of this flyover will result in uninterrupted
movement of traffic from Kolaghat to Haldia Dock Complex and other surrounding areas.
i.On 8th January 2021, Mamata Banerjee Chief Minister of West Bengal inaugurated the 7 day 26th edition of the
Kolkata International Film Festival(KIFF) 2021 (From 8th to 15th January 2021). Bollywood actor Shah Rukh Khan,
the brand ambassador of West Bengal virtually attended the inaugural ceremony from Mumbai.
ii.On October 20, 2020 Nitin Gadkari, Union Minister for Road Transport, Highways and MSMEs(Micro, Small &
Medium Enterprises) virtually laid the foundation stone for India’s first Multi-modal Logistic Park(MMLP) at
Jogighopa in Assam.
About West Bengal:
Capital– Kolkata
Chief Minister– Mamata Banerjee
About Assam:
Capital– Dispur
Chief Minister– Sarbananda Sonowal

India & Nepal Inaugurated the Newly Constructed 108Km Road Connecting Indo-Nepal Border
On 2nd February 2021, India and Nepal jointly inaugurated the newly constructed 108 kilometer road which
connects the Indo-Nepal border with several areas of Himalayan Country. Nitesh Kumar, Consul General of the
Consulate General of India, Birgunj and Binod Kumar Mauwar, division chief of Department of Roads,
Chandranigahpur jointly inaugurated the road.
• The construction of the road was considered as a high impact community development project under the
agreement between the Government of India and Nepal.
• The Government of India grant under ‘Nepal-Bharat Development Cooperation’ was utilized for construction
of Blacktopped Road. It has two packages viz. Package –I of 4.46 Kms from Indian Border-Laxmipur-Balara-
Mirzapur and Package – II of 1.62 Kms from Mirzapur to Gadahiya Road/Hulaki Road.
About the road:
i.The blacktopped road connecting India and Nepal was constructed with the Indian Grant assistance of NR.44.48
Million (~Rs.2,79,89,740).
ii.The road connects the Indian border Laxmipur-Balarawith to Gadhaiya in Sarlahi District Nepal.
Benefits:
To Improve daily Connectivity at Border.
Additional Info:
i.Defence Minister Rajnath Singh inaugurated an 80 km long road connecting the Lipulekh pass with Dharchula in
Uttarakhand on May 8 2020.
ii.Nepal claimed that the road passes through the territories of Nepal where India rejected the claim and asserted that
the road is within Indian territory.
On 12th November, 2020, India and Nepal launched the construction of 3rd Integrated Check Post (ICP) at Nepalgunj,
Nepal which will bring customs and immigration facilities under one roof to smoothen cross-border movement of
cargo trucks. The Portion on Indian side will be built at Rupaidiha (Uttar Pradesh).
About Nepal:
Prime Minister– K. P. Sharma Oli
Capital– Kathmandu
Currency-Nepalese Rupee (NPR)
AEPL Enters into a Framework Agreement with MiG For Post-Warranty Support to Indian Navy
fighter Jets
On February 3, 2021 Aviatech Enterprises Pvt Ltd (AEPL), a Crown group company entered into a ‘framework
agreement’ with Russian Aircraft Corporation(RAC) MiG, where AEPL will be the in-country authorised partner
for RAC MiG to provide post-warranty product support to Mikoyan-Gurevich(MiG)-29K and MiG-29KUB fighter
jets, associated systems, Ground Support Equipment (GSE) and Special to Type Test Equipment (STTE) in the
inventory of the Indian .
• Currently Indian Navy has around 40 MiG-29K (single seat) and MiG-29KUB (double seat) aircraft in its fleet.

What is Framework Agreement?

Framework agreement is an arrangement between one or more buyers and one or more suppliers that provide the
terms governing contracts to be established for a certain period of time, in particular with regard to price and, where
necessary, the quantity envisaged.
About the Framework Agreement:
i.As per the agreement AEPL will address the critical maintenance, logistic and supply chain issues on 24X7 basis.
This improves the availability of the aircraft and associated systems.
ii.The agreement seeks to enhance domestic product support at the doorstep of the Indian Navy establishments
operating or maintaining the MiG-29K/ KUB fleet of aircraft.
iii.As per Ministry of Defence-MOD (Dept of Defence Production) guidelines, it reduces the turnaround timelines of
the aggregates through the contracts on a long term basis.
Note- The framework agreement is based on the inter-governmental agreement that was signed between India and
Russia in September 2019.
Recent MoU signed by Crown Group & USC for Indian Navy
OSK India, a company of the Crown group has entered into an exclusive cooperation agreement with Russian
company United Shipbuilding Corporation (USC) for maintenance, servicing, manufacturing and supply of spares of
Indian Navy ships.
On May 8, 2020 The Defence Ministry has signed a contract worth around Rs 1,200 crore with Tata Power Strategic
Engineering Division(TPSED) for Phase-II of Modernisation of AirField Infrastructure(MAFI) of 37 airfields for Indian
Air Force(IAF), Indian Navy (IN) and Indian Coast Guard (ICG). The proposal is approved by Union Defence Minister
Rajnath Singh.
About Aviatech Enterprises Pvt Ltd (AEPL):
Headquarters– New Delhi, India
CEO– Rear Admiral (retd) Srinivas Kanugo
About Russian Aircraft Corporation MiG:
Managing Director– Andrey Leonidovich Gerasimchuk
Headquarters– Moscow, Russia
Triton Electric Vehicle Signs MoU with BEL for Developing EVs and ESS
Triton Electric Vehicle has signed a Memorandum of Understanding (MoU) with Bharat Electronics
Limited (BEL) to develop Electric Vehicles(EVs) and Energy Storage Systems(ESS).
Through this partnership, both parties aim to create an innovative product that will transform the Indian EV and ESS
segment.
Purpose: To manufacture the sub-systems and battery assembly for ESS and EVs so as to cater the needs of
customers in USA, India and other countries.
Provisions of MoU:
i.BEL will be the exclusive manufacturing partner to Triton in India for identified products.
ii.Triton will offer the know-how and technical documentation that are required to manufacture these products.

iii.BEL will address the requirements of ESS in India as a prime contractor. While Triton, as per the Make in India
requirements, will provide support as a technology partner.
Triton to Launch electric sedan N4 for the Indian market
i.Recently, Triton has made the announcement to launch electric sedan N4 for the Indian market. The base model is
priced at Rs 35 lakhs.
ii.This model will be available in four variants – N4, N4-S, N4-R and the high-performance limited edition N4-GT of
which only 100 units will be produced.
iii.The car is being developed and the vehicle will be showcased in next one month.
India’s first public EV (Electric Vehicle) charging plaza inaugurated by RK Singh at Chelmsford Club in New Delhi in
order to make e-mobility hassle free and convenient for the consumers. This plaza has been established by EESL, a
joint venture of Public Sector Undertakings (PSUs) under Ministry of Power, in collaboration with New Delhi
Municipal Council (NDMC), which will host 5 Electric Vehicle Chargers of different specifications.
About Bharat Electronics Limited (BEL):
It is a navratna Public Sector Undertaking(PSU) under Ministry of Defence
Chairman and Managing Director– M V Gowtama
Headquarters– Bangalore Karnataka
About Triton Electric Vehicle:
It is the new subsidiary of Triton Solar
Headquarters– New Jersey, USA
Founder and CEO– Himanshu B Patel(Founder and Chairman of Triton Solar)
BANKING & FINANCE

India’s Nominal GDP Growth to Rise to ~17% in FY22: Moody’s
On February 3, 2021 Moody’s in its report titled ‘Government Policy – India: Budget provides broad support;
fiscal consolidation prospects still weak’ has increased India’s nominal Gross Domestic Product (GDP) growth at
~17% for FY 22 from earlier 14.3%. The projection has been made on the basis of a ‘pro-growth’ budget. This
forecast is higher than 14.4% estimated in the Union Budget 2021-22.
• The report also highlighted the weak prospects of fiscal consolidation.
Highlights of the Report
Fiscal Deficit
i.Moody’s has forecasted India’s fiscal deficit for FY 21 at 7.5% of GDP and 5.5% for FY 22.
ii.While the budget has projected 9.5% for FY 21 and 6.8% for FY 22.
Budget
i.As per Moody’s the focus of the budget on the high capital expenditure, financial reforms and asser sales helps to
promote growth and supply broad-based credit support.

ii.But, the implementation risks will remain and the slow budgetary consolidation will limit fiscal strength over the
medium term.
On September 20, 2020 Krishnamurthy Subramanian, chief economic advisor in the finance ministry, Government of
India informed that as per the estimate of finance ministry, India’s nominal Gross Domestic Product(GDP) is expected
to grow by 19% in FY22(2021-22) on a low base.
About Moody’s:
Headquarters– NewYork, United States
President & CEO– Robert(Rob) Fauber.
Highlights of Monetary Policy Committee (MPC) on Feb 5, 2021

The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) met on 3rd, 4th and 5th February, 2021 which
projected India’s gross domestic Product (GDP) growth at 10.5% for the FY2021-22, 26.2 to 8.3% in H1 FY22 and 6.0
% in Q3 FY22.This is 5th Bi-Monthly Monetary Policy Committee Meeting for FY 2020-21.
• The projection of Consumer Price Index (CPI) inflation has been revised to 5.2% for the Q4 FY21, 5.2 % to 5.0
% in H1 FY22 and declined to 4.3% by Q3 FY22.
• The MPC has given the mandate to maintain annual inflation at 4% until March 31, 2021 with an upper
tolerance of 6% and lower tolerance of 2% i.e. within a band of +/- 2 %,
The MPC kept the interest rates unchanged the fourth time in a row which are as follows:
Policy Repo Rate 4.00%
Reverse Repo Rate 3.35%
Marginal Standing Facility (MSF) Rate 4.25%
Bank Rate 4.25%
Members of MPC:
Dr. Shashanka Bhide; Dr. Ashima Goyal; Prof. Jayanth R. Varma; Dr. Mridul K. Saggar; Dr. Michael Debabrata Patra;
and headed by Shaktikanta Das (RBI Governor).

–Central bank extends TLTRO scheme to NBFCs

On the request of India’s Non-Banking Financial Companies (NBFCs), RBI has included them under the Targeted Long
Term Repo Operations (TLTRO). Under this, funds will be provided to NBFCs through banks under the TLTRO on Tap
scheme for incremental lending to the specified stressed sectors.
The liquidity availed by the banks under this scheme is deployed in corporate bonds, commercial papers, and non-
convertible debentures. Sectors such as retail, micro, agri, infra, MSME, pharma, and healthcare are eligible for fund
deployment under the scheme.
Background:
In October 2020, Reserve Bank had announced TLTRO scheme worth Rs 1 trillion to provide liquidity support to
various sectors and banks. At that the time, NBFCs had written to the apex bank, requesting to include them as the
beneficiaries in the liquidity support scheme.
About TLTRO:
On tap TLTRO is conducted with tenors of up to three years for a total amount of up to Rs 1 lakh crore (Rs 1 trillion)
at a floating rate linked to the repo rate. The scheme is available till March 31, 2021.
• It was initially started with 5 sectors viz. agriculture; agri-infrastructure; secured retail; MSMEs; and drugs,
pharmaceuticals and healthcare.
• In addition to them on October 21, 2020, 26 stressed sectors identified by the Kamath Committee were also
brought within the ambit of eligible sectors sectors.
• The liquidity availed under the scheme can also be used to extend bank loans and advances to these sectors.
• Investments made by banks under this facility are classified as held to maturity (HTM). Notably the total
investment permitted to be included in the HTM portfolio is 25%. But this limit is eligible to TLTRO.
–RBI extends deadline for meeting last tranche of capital conservation buffer by 6 months
The RBI also extended the deadline for meeting the last tranche of capital conservation buffer (CCB) of 0.625% by
another six months i.e. from April 1, 2021 to October 1, 2021due to continuing stress on account of COVID-19
pandemic and to aid in the recovery process. This buffer ensures banks to have an additional layer of usable capital
that can be used when losses are incurred.
–RBI defers implementation of Net Stable Funding Ratio (NSFR)
Apart from above, it was also decided to defer the implementation of Net Stable Funding Ratio (NSFR) from April 1,
2021 to October 1, 2021 amid COVID-19 stress. The NSFR reduces future funding risk by requiring banks to fund
their activities with sufficiently stable sources of funding in a time period of 1 year. It is a component of the Basel III
reforms along with Liquidity Coverage Ratio (LCR).
• The NSFR also defined as the amount of available stable funding relative to the amount of required stable
funding.
–Banks Can Deduct Loans to New MSME Borrowers from NDTL for CRR Purpose
The RBI has allowed banks to deduct loans disbursed to new micro, small, and medium enterprise (MSME) borrowers
from their net demand and time liabilities (NDTL) for calculation of the cash reserve ratio (CRR). The decision has
been taken to incentivise new credit flow to MSME borrowers.
• Here new MSME borrowers are defined as those MSME borrowers who have not availed any credit facilities
from the banking system as on January 1, 2021.
• The exemption will be available maximum to Rs 25 lakh per borrower for credit extended up to the fortnight
ending October 1, 2021, for a period of one year from the date of origination of the loan or the tenure of the
loan, whichever is earlier.
— RBI extends SLR holdings in HTM category till March 2023
RBI also decided to extend the dispensation of enhanced HTM of 22% up to March 31, 2023 to include securities
acquired between April 1, 2021 and March 31, 2022.
• The Reserve Bank on September 1, 2020, increased the limits under Held to Maturity (HTM) category from
19.5% to 22% of net demand and time liabilities (NDTL) in respect of statutory liquidity ratio (SLR) eligible
securities acquired on or after September 1, 2020, up to March 31, 2021.
–RBI to come out with paper on regulatory framework for lenders in MFI space
The apex bank is all set to come up with consultative document “harmonising the regulatory frameworks for
various regulated lenders in the microfinance space” in March 2021. It will cover various regulated lenders

NBFC-MFIs, banks, small finance banks (SFB) and NBFC — investment and credit companies in the microfinance
space.
• This decision came against the backdrop of the Assam Assembly passing the Assam Micro Finance Institutions
(Regulation of Money Lending) Bill, 2020 in December for controlling operations of the MFIs.
This decision by RBI has been welcomed by Microfinance Institutions Network (MFIN). It should be noted that MFIN
already has a ‘Code of Responsible Lending (CRL) in Micro-credit’ to bring different regulated entities under a
uniform common code for customer conduct. The CRL has 113 signatories, representing 70% of the market.
–RBI to set up expert committee on urban co-op banks
The RBI has decided to set up an Expert Committee (EC) on Urban Co-operative Banks (UCBs) that will provide a
medium-term roadmap to strengthen the sector. The constitution of EC and its terms would be announced shortly
• This formation is a part of the additional measures announced by the RBI to revive the economy with
measures relating to enhancing liquidity support to targeted sectors, regulation and supervision, deepening
financial markets, upgrading payment and settlement systems and strengthening consumer protection.
–RBI allows Indian residents to make remittances to IFSCs
RBI has permitted Indian residents to make remittances to international financial services centres (IFSCs) established
here under the liberalized remittance scheme (LRS). Till now, only global participants were allowed to invest in funds
set up in Indian IFSCs.
The move is likely to benefit retail investors, and high net-worth individuals (HNIs).
• Under the LRS, an Indian individual can send up to $250,000 per year overseas for travel, education and
medical care as well as for the purchase of shares.
• Gujarat International Finance Tec-City Co. Ltd is India’s first IFSC.
–RBI Allows Retail Investors to Open Gilt Accounts; India becomes first country to do so
The retail investors are allowed to access government securities (G-Secs) market both primary and secondary –
directly through the Reserve Bank (‘Retail Direct’) along the facility to open their gilt securities account. With this,
India has become the first country to do so.
• A “Gilt Account” means an account opened and maintained for holding Government securities, by an entity or a
person including ‘a person resident outside India’ with a “Custodian” permitted by the RBI.
–RBI eases rules for FPI investments in defaulted bonds
In order to further promote investment by FPIs in corporate bonds, it is proposed foreign portfolio investors (FPIs)
deploying funds in defaulted corporate bonds will be exempted from the short-term limit and the minimum residual
maturity requirement under the Medium Term Framework (MTF).
• Currently, this exemption was limited for FPI who invest in security receipts and debt instruments issued by
Asset Reconstruction Companies and debt instruments issued by an entity under the Corporate Insolvency
Resolution Process (CIRP).
–RBI shall issue guidelines on outsourcing of digital payment, settlement related service
To manage the attendant risks in outsourcing and ensure that code of conduct adhered to while outsourcing payment
and settlement related service, RBI shall issue guidelines on outsourcing of such services by these entities
–All remaining 18,000 bank branches to be under CTS by September, 2021
It is propose to bring the remaining 18,000 bank branches under the coverage of Cheque Truncation System (CTS) by
September 2021 which has been has been extended to all legacy clearing houses by September 2020. This will
enhance customer convenience and bring in operational efficiency to paper based clearing system.
–RBI tells operators to set up 24×7 helpline for digital payments by Sep 2021
In order to enhance customer trust in the digital payments ecosystem, major payment system operators are required
to set up centralised industry-wide 24×7 helpline for addressing customer queries in respect of various digital
payment products. It will also give information on available grievance redress mechanisms.
–RBI announces integrated ombudsman scheme for bank customers
The apex bank has decided to collaborate the existing three separate Ombudsman schemes for banks, NBFCs and
non-bank prepaid payment issuers (PPIs) into Integrated Ombudsman Scheme w.e.f June 2021.Under this, centralised
processing of grievances will be ntroduced on the lines of ‘One Nation One Ombudsman’ approach.
• This decision has been taken to ease the process of grievances by enabling the customers to register their
complaints under the integrated scheme, with one centralised reference point.


i.On December 29, 2020, Reserve Bank of India (RBI) released “Report on Trend and Progress of Banking in India
2019-20” under the broad theme of impact of COVID-19 on banking and non-banking sectors, and the way forward.
This report for the year ended June 30, 2020 has been submitted to the Central Government in terms of Section 36(2)
of the Banking Regulation Act, 1949.
ii.On January 1, 2021, the Reserve Bank of India (RBI) introduced the RBI-Digital Payments Index (DPI) to measure a
growth in digital or cashless transactions across the country. It was released on the lines of the Statement on
Developmental and Regulatory Policies as part of the Sixth Bi-monthly Monetary Policy Statement for 2019-20 dated
February 06, 2020.
About Reserve Bank of India (RBI):
Formation– 1 April 1935
Headquarters– Mumbai, Maharashtra
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, and M Rajeswar Rao)
APPOINTMENTS & RESIGNATIONS

Praveen Sinha IPS of Gujarat Cadre appointed as acting chief of CBI
On 3rd February 2021, The Appointments Committee of the Cabinet chaired by Prime Minister Narendra Modi has
appointed Praveen Sinha, 1988 batch IPS officer of Gujarat Cadre, currently serving as the Additional Director of
Central Bureau of Investigation(CBI), as the acting Chief of CBI. He succeeds Rishi Kumar Sukla who retires on 3rd
February 2021 after a 2-year stint.
About Praveen Sinha:

i.He has served in CBI at various capacities like Superintendent of police, Deputy Inspector General, Joint Director and
Additional Director between 2000-2021.
ii.He has also served as the Additional Secretary of Central Vigilance Commission(CVC) during 2015 to 2018.
iii.He is a member of various reform committees established by the CVC.
iv.He is a member of the Committee of Reforms in Criminal Laws constituted by the Ministry of Home Affairs (MHA).
Additional info:
i.He has drafted the Vigilance Manual 2017 of the CVC and CBI(Crime) Manual, 2020.
ii.He received the President’s Police Medal for his distinguished service on 2013 Republic Day and Police Medal for
Meritorious Service on 2004 Republic Day.
About Central Bureau of Investigation(CBI):
CBI was established as The Special Police Establishment (SPE) in 1941, it was renamed as Central Bureau of
Investigation(CBI) in 1963.
Motto– Industry, Impartiality, Integrity
Headquarters– New Delhi

SCIENCE & TECHNOLOGY

Bellatrix Aerospace is building a ‘space taxi’ for satellites
In a reforming development, the Bengaluru, Karnataka based Bellatrix Aerospace is building a Orbital Transfer
Vehicle (OTV) that will work as a “taxi in space” to ferry small satellites into multiple orbits. It will be big
development for global operators to reduce time and costs.
• The space startup’s vehicle is expected to launch to low earth orbit in 2023 on the Vikram rocket of Skyroot
Aerospace, a Hyderabad-based rocket startup by former Indian Space Research Organisation (ISRO)
scientists.
• The vehicle will offer ride-sharing for small satellites and drop each one of the passengers to their intended
slots in space.
How it works?
• Bellatrix Aerospace has built homegrown electric as well as chemically powered engines or thrusters to
manoeuvre satellites in space.
• It will build the orbital transfer vehicle and offer it as a taxi to take satellites to their orbit.
• The vehicle can also carry its own payload to become a satellite after dropping other satellites.
Bellatrix is incubated on the Indian Institute of Science in Bengaluru. In addition to Skyroot, it have partnerships with
Bengaluru-based area providers supplier Dhruva Space.
About Bellatrix Aerospace:
Founded– 2015
Founders– Yashas Karanam, Rohan M Ganapathy
OBITUARY
Former New Zealand Cricketer Bruce Taylor Passed Away at 77
On 6th February 2021, Former New Zealand Cricketer Bruce Taylor passed away at the age of 77 in Lower Hutt, New
Zealand. He was born on 12th July 1943 in Timaru, New Zealand.

He was described as “Force of Nature” by the New Zealand Cricket Team.

Key Points:
i.Bruce Taylor scored the first class century in 1965 against India at Kolkata, West Bengal.
ii.He is the only cricketer to score a century and take a five-wicket haul on debut in a Test match.
iii.He scored the fastest test century of New Zealand against West Indies in 1969, after 36 years, Daniel Vettori broke
this record.
iv.He has played around 30 test matches representing New Zealand and took 111 wickets and scored 898 runs.
v.He retired after his England Tour in 1973 and returned to support Wellington against West Indies in 1979-80.
Arjuna Awardee & Former Davis Cup Coach, Tennis Legend Akhtar Ali Passed Away at 81
On 7th February 2021, Indian Tennis Legend, Akhtar Ali, the former Davis Cup Coach, passed away at the age of 81 in
Kolkata, West Bengal. He has supported the career development of the legendary Leander Paes. He was born on 5th
July 1939. He hails from Kolkata, West Bengal.
About Akhtar Ali:

i.Akhtar Ali has played in 8 Davis Cup Ties Between 1958 to 1963.
ii.He has also led the Indian team as both Captain and Coach .He won the Junior National title at age 16 in 1955 & also
a National squash champion in 1968.
iii.He is the father of the current Davis Cup Coach Zeeshan Ali.
iv.He has also worked with Ramesh Krishna, Zeeshnan Ali and Vijay Amritraj
Awards:
He received the Arjuna Award in Lawn tennis for his lifetime contribution to tennis in 2000.
BOOKS & AUTHORS

A book titled “Platform Scale: For A Post-Pandemic World” Authored by Sangeet Paul Choudary
A book titled ‘Platform Scale: For A Post-Pandemic World’ has been authored by Sangeet Paul Choudary. The
book has been published by Penguin Random House India.

• The first edition of ‘Platform Scale’ was published in 2015.

Essence of the Book:
i.It explains about the importance of inner workings of platform business models and their ability to scale rapidly.
ii.It describes how the decade that led to the COVID-19 pandemic witnessed the rise of platform business models.
iii.It also acts as a guide for entrepreneurs, innovators and educators who are looking to understand and implement
the inner workings of highly scalable platform business models.
About Sangeet Paul Choudary:
i.Besides being an author, he is also a business scholar, entrepreneur, advisor.
ii.He is the co-author of the bestselling book titled, ‘Platform Revolution – How Networked Markets are Transforming
the Economy and How to Make Them Work for You’.
iii.He is the founder of Platformation Labs.
iv.He is the frequent keynote speaker at leading global forums, including the G20 Summit, the World 50 Summit, the
United Nations and the World Economic Forum.
Former Vice President of India Mohammad Hamid Ansari Authors a Book Titled, ‘By Many a Happy
Accident: Recollections of a Life’
Former Vice President of India Mohammad Hamid Ansari has authored a book titled ‘By Many a Happy Accident:
Recollections of a Life’. The book is published by Rupa Publications.
Essence of the Book:

It describes the unplanned happenings that took place in the life of M. Hamid that changed his way from his deferred
fancy for academia to professional diplomacy and then co-opted in public life and became the Vice President of India
for 2 consecutive terms.
About Hamid Ansari:
High Post Held
i.He was a Indian Foreign Service officer and was the chairman of Rajya Sabha for two consecutive terms from 2007
to 2017.
ii.He served as the ambassador to the United Arab Emirates(UAE), Afghanistan, Iran, and Saudi Arabia.
iii.He was the high commissioner to Australia and was also the permanent representative to the United Nations in
New York.
iv.He chaired 1 of the 5 Working Groups established by the Prime Minister’s 2nd Round Table Conference on Jammu
and Kashmir(J&K) in April 2006.
Editor
He edited the proceedings of an international conference on Iran, 25 Years after the Islamic Revolution.
Books
i.He published his own writings namely, Travelling through Conflict: Essays on the Politics of West Asia in 2008.
ii.Some books have been published from his selected speeches including, Teasing Questions (2014), Citizen and
Society (2016) and Dare I Question? (2018).

STATE NEWS
Delhi Cabinet Approves ‘Mukhyamantri Vigyan Pratibha Pariksha’, a Science Scholarship Scheme
On February 5, 2021 The Delhi Cabinet approved Mukhyamantri Vigyan Pratibha Pariksha scheme, under
which Rs. 5000 will be provided as a science scholarship to 1000 meritorious students of Class 9 in the schools of
Delhi.
Purpose– To enhance science education in secondary school level.

Eligibility of the scheme
i.Under the scheme, the students who secure over 60% in Class 8 will be eligible to take up the examination.
ii.Up to 5% of marks will be given as a relaxation to the students who belong to SC, ST, PH, or OBC category
Other Approval of Delhi Cabinet
i.To digitise the education department of the state.
ii.To procure nearly 1200 computers, multi-functional printers, and Uninterruptible Power Supply (UPS) for all
schools, branch offices, and district offices under the state education department.
On May 6, 2020, Tripura, Chief Minister(CM) Biplab Kumar Deb launched a National Scholarship online portal
website(https:/ /scholarships.gov.in/) under ‘Mukhyamantri Yuba Yogayog Yojana’, an incentive scheme at the state
secretariat so that students can apply for this scheme for the Academic Year 2019-20.
About Delhi:
Stadium– Feroz Shah Kotla Stadium, Jawaharlal Nehru Stadium, Talkatora Indoor Stadium, R.K. Khanna Stadium,
Indira Gandhi Indoor Stadium
Forts– Tughlaqabad Fort, The Red Fort, Purana Qila, Feroz Shah Kotla, Qila Rai Pithora Main Fort
Union Finance Minister Nirmala Sitharaman Attended the 3rd Phase of Chah Bagicha Dhan Puraskar
Mela in Guwahati
On 6th February 2021, Nirmala Sitharaman, Union Finance Minister attended the 3rd phase of the Chah Bagicha
Dhan Puraskar Mela held in Guwahati, Assam. The event was organised at the Assam Veterinary College Playground
at Khanapara, Guwahati.
Key People:
Sarbananda Sonowal, Chief Minister of Assam; Rameshwar Teli, Union Minister of State for Food Processing
Industries and Biswa Sarma, Finance Minister of Assam participated in the event.
3rd phase of Chah Bagicha Dhan Puraskar Mela – Highlights:
i.The Finance Minister also distributed the 3rd tranche of financial assistance to the tea garden beneficiaries under
the Chah Bagicha Dhan Puraskar Scheme.
ii.The government of Assam distributed a financial assistance of Rs.3000 to around 7.5 lakh people of the tea garden
areas.
Chah Bagicha Dhan Puraskar Scheme:
The Chah Bagicha Dhan Puraskar scheme was launched by the Government of Assam in 2017-2018.

Aim:
To bring the tea labours closer to the banking sector and promote cashless transactions.
Benefits:
i.Around 6.3 lakh beneficiaries were provided financial assistance of Rs.2500 in their bank accounts as a part of the
first phase of the Chah Bagicha Dhan Puraskar Mela 2017-2018.
ii.In the 2nd phase of the scheme in 2018-2019, another Rs.2500 was credited to the accounts of around 7.15 lakh
accounts, which were uninterruptedly operated for 6 months,
Note:
In the Union Budget presented in February 2021, Presented by the Finance Minister, Rs.1000 crore was announced
for the welfare of the tea workers of Assam and West Bengal.
On 4th September 2020, The Government of Assam relaunched its old scheme Swami Vivekananda Assam Youth
Empowerment (SVAYEM) worth Rs.1000 crore. The scheme is aimed to provide self-employment opportunities to
more than 2 lakh youths of the state.
About Assam:
Biosphere Reserve– Manas Biosphere Reserve; Dibru Saikhowa Biosphere Reserve
UNESCO Heritage sites– Manas Wildlife Sanctuary, Kaziranga National Park
Manipur CM N. Biren Singh Launched a New Range of Packaged Organic Products and LoumiConnect
App
On February 7, 2021 Manipur Chief Minister(CM) Nongthombam(N.) Biren Singh launched a new range of
packaged organic products and LoumiConnect App under Manipur Organic Mission Agency (MOMA) & Mission
Organic Value Chain Development for North Eastern Region (MOVCDNER).
These were launched in a function organized jointly by Directorate of Horticulture and Soil Conservation and Eastern
Border Areas Development Authority (EBADA) at Chief Minister’s Secretariat Imphal, Manipur.
LoumiConnect App
The App helps to connect farmers with Horticulture and Agriculture experts.
It also empowers the farmers of the state to produce organic products.

Packaged Organic Items

The new range of package organic items include Spice Box, Chakhao Ladoo Box, Dry Kiwi, Black Rice Flour, Black Rice
Flakes, Sachets of organic turmeric, ginger and King Chilli powder.
Other Launches and Releases
7 utility vehicles and nursery items
In addition to these, N. Biren Singh launched 7 utility vehicles and nursery items to 7 farmers’ societies or Farmers
Producer Companies (FPCs) under the NEC programme implemented by EBADA.
7 FPCs– Integrated Farmers Society, Kamjong District; Chowainamei Farmers Association, Senapati District; Natural
Agro-Tech Research and Processing Service; Churachandpur District; Ngathingkhul Hungyo Farming Society,
Kamjong District; Nambashi Kachumram Organic Farming Society, Kamjong District; Millenium Organic Farming
Society, Kamjong District; Senapati Producers Organization of Kiwi Fruits Co-operative Society, Senapati District.
Booklets on organic farming & MOVCDNER
He also released an Illustrative guide booklets on organic farming and MOVCDNER.
On January 8, 2021, Awangbow Newbai, Minister for Forest, Environment & Climate Change, Manipur launched a
website for Community-based Sustainable Forest Management for Water Resource Conservation in Manipur
(COSFOM) – www.cosfom.mn.gov.in at the Forest Headquarters, Sanjenthong, Manipur.
About Manipur:
Governor– Dr. Najma Heptulla
Wildlife Sanctuary– Yangoupokpi-Lokchao Wildlife Sanctuary, Khongjaingamba Ching Wildlife Sanctuary
*******
Click Here View – AC Excluded News 2021
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• GA Questions asked in IBPS RRB Clerk Mains Exam 2019
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About ONGC Energy Centre:

PM Modi Unveiled Postage Stamps on Diamond Jubilee of Gujarat High Court

PM Narendra Modi visit to Assam and West Bengal

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What is Framework Agreement?

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Highlights of Monetary Policy Committee (MPC) on Feb 5, 2021

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–Central bank extends TLTRO scheme to NBFCs

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APPOINTMENTS & RESIGNATIONS

About Praveen Sinha:

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SCIENCE & TECHNOLOGY

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He was described as “Force of Nature” by the New Zealand Cricket Team.

About Akhtar Ali:

BOOKS & AUTHORS

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• The first edition of ‘Platform Scale’ was published in 2015.

Essence of the Book:

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Purpose– To enhance science education in secondary school level.

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Packaged Organic Items

GA Questions Asked in Exams

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