Roadmap for Banking of the Future

Daily Current Affairs – 27 February 2022

This post contains the current affairs for 27 February 2022. These current affairs are important for banking exams, insurance exams and other competitive exams like IBPS PO and Clerk, SBI PO and Clerk, RBI Assistant and Grade B, etc. You can also attempt our Current Affairs Quiz after reading our daily current affairs.

National

Govt approves implementation of Ayushman Bharat Digital Mission with a budget of Rs.1,600 crore

Union Cabinet has approved the pan-India implementation of Ayushman Bharat Digital Mission (ABDM) with a budget of Rs.1,600 crore for five years.
Ayushman Bharat Digital Mission (ABDM) was launched by PM Modi in September 2021.
Under this scheme citizen will have 14 digit ABHA (Ayushman Bharat Health Account) numbers, to which their digital health records can be linked.

Union Minister Narayan Rane inaugurates MSME Conclave and Rs 200 crore MSME Technology Centre in Maharashtra’s Sindhudurg

The Union Ministry of Micro, Small & Medium Enterprises (MSME) is setting up an MSME-Technology Centre in Sindhudurg, Maharashtra, with an outlay of Rs. 200 Crore.
This was announced by MSME Minister Shri Narayan Rane during the two-day MSME Conclave organized by the Ministry of MSME in Sindhudurg on 25 and 26 February 2022.
The Conclave aims to promote entrepreneurship and trade opportunities for MSMEs in the Konkan region and also to make Sindhudurg region – the top most in industrial sector.
The MSME-Technology Centre will provide the best of technology, incubation as well as advisory support to the MSME industry to enhance their competitiveness, skilling services and their employability.

IAF pulls out of multilateral air Exercise ‘Cobra Warrior 22’ in UK

The Indian Air Force (IAF) has decided not to send its aircrafts in the multilateral air exercise ‘Cobra Warrior-22’ in United Kingdom, due to the deepening crisis in Ukraine, arising out of the Russian military attack in that country.
The exercise is scheduled to take place from March 6 to 27, 2022, at Waddington in the United Kingdom.
The announcement by the IAF comes just three days after it confirmed its participation in the drills.

Polio National Immunization Day 2022 to be observed on 27th February

In 2022, the Government of India has organised the Polio National Immunization Day 2022 (NID) (also known as ‘’Polio Ravivar”) on February 27, 2022, to give two drops of oral polio vaccine (OPV) to every child in the country under the age of five..
Over 15 crore children will be covered under the drive across all 36 States and UTs in 735 districts.
The National Polio Immunization Drive for 2022 was launched by Union Minister for Health and Family Welfare Dr. Mansukh Mandavia on February 26, 2022.

Banking

NSE, BSE starts T+1 Stock Settlement From February 25, 2022

From February 25, 2022, India has become the second country after China to implement T+1 stock settlement mechanism in a phased manner. The system will be starting with select stocks and then gradually adding others to the fold.
Instruction regarding this was issued by SEBI on January 01, 2022. Before this, the settlement period of stocks in India was T+2, i.e. two days after the actual buy/selling of stock.
T means the trade/transaction day i.e. the day on which stock is brought/sold. and here T+1 means that the actual stock settlement will happen on next day i.e +1 day. Ex: You buy a stock on Monday, you will get it in your Demat account Tuesday.

NDB first multilateral agency to open office in Gift City

New Development Bank (NDB) will become the first multilateral agency to open an office in the Gujarat International Finance Tech City (Gift).
New Development Bank (NDB) has received the approval for the same and will open the office in May 2022 in GIFT City.
NDB was set up by the BRICS countries (Brazil, Russia, India, China, and South Africa). Headquarters- Shanghai, China.

Business

e-invoice mandatory for firms with turnover of ₹20 Cr or more from April 01, 2022

Central Board of Indirect Taxes & Custom (CBIC) has lowered the threshold for mandatory issuance of e- invoice (electronic invoice) under Goods & Services Tax (GST) to Rs. 20 crore from the earlier prescribed limit of Rs. 50 crore.
This will come into effect from April 01, 2022.
This means that business with turnover of more than Rs 20 crore will have to issue e-invoice through their internal systems or billing software and then report them online to the invoice registration portal. This is required to avail of input tax credit (ITC).

Standard Chartered tie-up with IATA to roll out IATA Pay for airline industry in India

UK-based Standard Chartered has partnered with the International Air Transport Association (IATA) to launch a payment platform ‘ IATA Pay’ for airline industry in India.
The rollout of IATA Pay will enable participating airlines to offer instant payment options such as UPI Scan and Pay and UPI Collect (Request to Pay).
The service leverages the Unified Payment Interface (UPI), enabling consumers to instantly pay for airline tickets from their bank accounts.
IATA Pay in India is powered by Standard Chartered’s payment platform ‘Straight2Bank Pay’.

Days

India observes Third Protein Day on February 27, 2022

In India, February 27th is celebrated as the National Protein Day, to create awareness about protein deficiency and encourage people to include of this macronutrient in their diet.
Theme for 2022: ‘Food Futurism‘ .
The day was launched on February 27, 2020, by the ‘Right to Protein’, a national-level public health awareness initiative to educate people about the importance of adequate protein consumption for better nutrition, health, and wellbeing.
Protein Day is celebrating its third year in 2022.

World NGO Day: 27 February

The World NGO Day is celebrated on February 27 every year.
It is an international day dedicated to recognize, celebrate and honour all non-governmental and nonprofit organizations, and the people behind them that contribute to the society all year around.
It was marked for the first time by UN, EU, Nordic Council leaders and international organizations in 2014.

Obituary

Hemananda Biswal, former CM of Odisha passes away at age 82

Politician and former Chief Minister of Odisha, Hemananda Biswal passed away in Bhubaneswar at the age of 82 years. He was undergoing treatment for pneumonia.
He had served as the Chief Minister of Odisha twice. He was the first tribal chief minister of Odisha.