Roadmap for Banking of the Future
Daily Current Affairs – 04 January 2022
Daily Current Affairs 04 January 2022: This post contains the current affairs for 04 January 2022 that are important for competitive exams like IBPS PO and Clerk, SBI PO and Clerk, RBI Assistant and Grade B, other Insurance exams. You can also attempt our Current Affairs Quiz after reading our daily current affairs.
National
Sushmita Dev lone Woman in 31-member Panel to examine bill on raising legal age of marriage
- The parliamentary standing committee constituted to examine “The Prohibition of Child Marriage (Amendment) Bill, 2021” comprise of total 31 members, including only one women representative.
- Out of the total 31 members, TMC MP Sushmita Dev is the sole woman representative in the committee.
- The Bill seeks to raise the legal age of marriage for women in India from 18 to 21 to bring it at par with men.
- The Prohibition of Child Marriage (Amendment) Bill 2021 seeks to amend the “Prohibition of Child Marriage Act, 2006” and seven personal laws, which are:
- Indian Christian Marriage Act; the Parsi Marriage and Divorce Act; the Muslim Personal Law (Shariat) Application Act; the Special Marriage Act; the Hindu Marriage Act; and the Foreign Marriage Act.
Banking & Economy
RBI releases framework for Facilitating Small Value Digital Payments in Offline Mode
- The Reserve Bank of India has issued the guidelines for facilitating small value digital transactions in offline mode.
- Payment/transaction will be considered offline when the transaction does not require internet or telecom connectivity to take effect.
- Authorised Payment System Operators (PSOs) and Payment System Participants (PSPs) – Acquirers and Issuers (banks and non-banks) should comply to the following requirements for this small value digital payments in offline mode:
- The upper limit of an offline payment transaction is fixed at Rs. 200. The total limit for offline transactions on a payment instrument shall be Rs. 2,000 at any point in time. Replenishment of used limit shall be allowed only in online mode with AFA.
- Offline payments can be made using any channel or instrument like cards, wallets, mobile devices, etc.
- Offline payments can made in proximity (face to face) mode only.
- Offline payment transactions can be offered without Additional Factor of Authentication (AFA).
- The acquirer shall incur all liabilities arising out of technical or transaction security issues at merchant’s end.
SBI Card joins hand with Paytm for card tokenisation
- SBI Cards and Payment Services Ltd. has collaborated with Paytm for card tokenisation to protect data of the cardholders.
- The SBI Card cardholders can tokenise their cards on devices and make payments through Paytm.
- Tokenisation refers to masking the original card number by replacing it with a set of unique characters known as token.
- Token secures the customer’s card details when a transaction is under process.
Insurance
IRDAI selects LIC, GIC Re and New India Assurance as Domestic Systemically Important Insurers
- Insurance Regulatory and Development Authority of India (IRDAI) has chosen the following insurers as Domestic Systemically Important Insurers (D-SIIs) for 2021-22:
- Life Insurance Corporation of India;
- General Insurance Corporation of India; and
- The New India Assurance Co. Ltd.
- Domestic Systemically Important Insurers (D-SIIs) are the insurance companies that are considered “Too Big to Fail”. i.e its failure will impact the economy and insurance sector to a great extend.
- IRDAI has chosen these three insurers on the basis of their size, market importance and domestic and global interconnectedness whose distress or failure would cause significant dislocation in the domestic financial system.
Business
NTPC plans to buy 5% equity in Power Exchange of India Ltd (PXIL)
- State-owned power generation company NTPC Ltd. is set to acquire 5 percent equity stake in Power Exchange of India Ltd (PXIL).
- It must be noted that government is planning to expand the share of the spot power market in total electricity supply in India to 25 percent by 2023-24. At present the size of short-term power trading is about 5 percent.
- About PXIL: It was incorporated on February 20, 2008 as India’s first institutionally promoted power exchange.
- PXIL provides various electricity trading solutions and helps in connecting buyers with sellers.
- The authorised share capital of the PXIL is Rs 120 crore and paid-up capital is Rs 58.47 crore.
Appointment
Atul Kumar Goel takes charge as ‘officer on special duty’ in PNB
- Atul Kumar Goel has taken charge as an ‘officer on special duty’ in Punjab National Bank before taking over as its new MD and CEO of the bank in February 2022.
- Atul Kumar Goel will replace Mallikarjuna Rao as the MD and CEO of Punjab National Bank on February 01, 2022 as Mr. Rao superannuates on January 31, 2022.
ACC appoints Vinay Kumar Tripathi as new Chairman & CEO of Railway Board
- The Appointments Committee of the Cabinet (ACC) has approved the appointment of Vinay Kumar Tripathi as the Chairman and Chief Executive Officer (CEO) of Railway Board, Ministry of Railways.
- Currently Tripathi serves as the General Manager, North Eastern Railway.
- He will replace Suneet Sharma, a 1982 batch IRSME officer.
- Tripathi is an Indian Railway Service of Electrical Engineers (IRSEE) officer from 1983 batch.
- He has been appointed for a period of six-months from January 01, 2022, and has been granted a six-month extension as well, upto December 2022.
Awards
Indian photojournalist Danish Siddiqui Bags RedInk Journalist of the Year 2020 Award Posthumously
- Photojournalist Danish Siddiqui, who was killed in July 2021 during a clash while reporting fight between Afghan troops and the Taliban in Afghanistan, has been honoured with the prestigious RedInk Award for ‘Journalist of the Year’ 2020 posthumously. The award was received by his wife Frederike Siddiqui.
- The tenth edition of the award was presented by the Chief Justice of India N. V. Ramana.
- The lifetime achievement award was given to 83-year-old senior journalist Prem Shankar Jha “for his long and distinguished career of incisive and analytical writing”.
- National RedInk Awards for Excellence in Journalism has been instituted by Mumbai Press Club to encourage good quality reporting and analysis, fair play and high ethical standards in Indian journalism.
- The awards are presented across 12 categories to journalists working in print, television and digital media.
- It carries a cash prize of Rs. 1 lakh, a trophy, and a citation.
Sports
Pakistan all-rounder Mohammad Hafeez announces retirement from international cricket
- Pakistani all-rounder Mohammad Hafeez has announced his retirement from international cricket on January 03, 2022, to end his career spanning more than 18 years.
- He is nicknamed “The Professor”.
- The 41-year-old Hafeez retired from Test cricket in December 2018.
- Hafeez has played 55 Tests, 218 ODIs and 119 T20Is for Pakistan, scoring 12,780 runs across formats.
Days
World Braille Day: 04 January
- The World Braille Day is observed every year on January 04 to commemorate the birth anniversary of Louis Braille, the inventor of Braille.
- The day aims to recognize the right of access to braille by blind people and raise awareness of importance of braille as a means of communication in the full realization of the human rights for blind and partially sighted people.
- The day was proclaimed by the United Nations General Assembly in November 2018.
- The first World Braille Day was celebrated on January 4, 2019.
