Roadmap for Banking of the Future

Daily Current Affairs – 27 January 2022

Daily Current Affairs 27 January 2022: This post contains the current affairs for 27 January 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

Meity releases Vision Document 2.0 titled ‘USD 300 billion electronics manufacturing powerhouse by 2026′

The Ministry of Electronics and Information Technology (MeitY) released a 5-year roadmap and Vision Document 2.0 for the electronics sector on January 24, 2022
The Vision Document 2.0 titled “$300 bn Sustainable Electronics Manufacturing & Exports by 2026” has been prepared by MeitY in association with the India Cellular & Electronics Association (ICEA).
It is the second volume of a two-part Vision Document.
The first part of the document titled “Increasing India’s Electronics Exports and Share in GVCs” was released in November 2021.
Vision Document 2.0 provides a year-wise break-up and production projections for the various products. This will help India to transform into a US$300 billion electronics manufacturing powerhouse by 2026, from the current US$75 billion.

128 People Conferred with Padma Awards 2022

The Padma Awards are one of the highest civilian Awards in India. They are conferred in three categories namely, Padma Vibhushan, Padma Bhushan and Padma Shri.
The awards are announced every year on the occasion of Republic Day on January 26, in various disciplines/ fields of activities, such as art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, civil service, etc. .
The 2022 Padma Award has been conferred upon 128 winners.
These includes four Padma Vibhushan, 17 Padma Bhushan awardees, and 107 Padma Shri awardees.
34 out of 128 awardees are women, while ten persons are Indian origin and Non-Resident Indians.
Complete List of Winners

President approves 384 Gallantry Awards for 2022

The President of India Shri Ram Nath Kovind has approved 384 Gallantry awards to Armed Forces personnel and others on the eve of 73rd Republic Day celebrations, on January 25, 2022.
Apart from this, the President’s Police Medals have been conferred on 939 awardees, including 189 Gallantry Medals, 88 Police Medals for Distinguished Service and 662 medals for Meritorious Service.

Banking

Govt notifies amalgamation of PMC Bank with Unity Small Finance Bank Ltd

The Government of India on January 25, 2022 has sanctioned and notified the Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd. (PMC Bank) with Unity Small Finance Bank Ltd. (USFBL).
This means that from January 25, 2022 all the branches of the PMC Bank will function as branches of Unity Small Finance Bank Ltd.
Unity Small Finance Bank Limited is promoted by Centrum Financial Services Limited along with Resilient Innovation Private Limited. Both the promotors have infused capital of ₹1105.10 crore in the bank.
After the amalgamation of PMC Bank with Unity SFB, Unity SFB will pay the customers of PMC Bank the amount it receives from DICGC (maximum upto amount insured by DICGC i.e Rs 5 Lakh) in installments of 10 years.
Section 45 of the Banking Regulation Act, 1949 empowers the Reserve Bank of India to prepare a scheme of reconstruction or amalgamation of banking companies (which include co-operative banks).

GDP Rate

IMF lowers India’s FY22 growth forecast to 9% from 9.5%

The International Monetary Fund (IMF) has cut India’s economic growth forecast for the current fiscal 2021-22 (FY22) to 9 percent, in its latest world economic outlook report, released on January 25, 2022.
Earlier this was estimated at 9.5%
IMF has projected the growth forecast for India in 2022-23 (FY23) at 7.1%
IMF has projected the global growth rate in 2022 to 4.4%, and in 2023 to 3.8%.

Business

Apple retained the title as world’s valuable brand in Brand Finance 2022 Global 500

Apple has retained its position as the most valuable brand in 2022 as well, according to the Brand Finance 2022 Global 500 report.
The brand valuation of Apple was recorded at $355.1 billion in 2022, which is an increase of 35% from last year.
This is the highest brand value ever recorded in the Brand Finance Global 500 ranking history.
Other brands in top 10 are
- Amazon, Google, Microsoft, Walmart, Samsung, Facebook, Industrial and Commercial Bank of China, Huawei and Verizon respectively.
Top Indian brand
- The Indian conglomerate Tata Group emerged as the most valuable brand from India and also in South Asia. It is only brand from the country in the top 100.
- Global Rank – 78
- Brand value – US$23.9 billion.

Ranking

India ranks 85th in Corruption Perceptions Index (CPI) 2021; Top- Denmark, Finland, NZ

Transparency International has released the Corruption Perceptions Index (CPI) 2021 in which India has been ranked at 85th spot (Score of 40).
The ranking has been topped jointly by three countries- Denmark, Finland and New Zealand. (Score of 88)
This ranking measures how corrupt each country’s public sector is perceived to be. The results are given on a scale of 0 (highly corrupt) to 100 (very clean).
180 countries are ranked in it.
Last year (for 2020) India was ranked 86th with a score of 40.
This year’s Corruption Perceptions Index (CPI) reveals that corruption levels are at a worldwide standstill. The global average remains unchanged for the tenth year in a row, at just 43 out of 100 points.

Defence

Western Naval Command conducts Joint maritime exercise Paschim Lehar (XPL-2022)

Western Naval Command of the Indian Navy conducted a joint maritime exercise Paschim Lehar (XPL-2022) off the West Coast which concluded on January 25, 2022.
The exercise continued for 20 days and was conducted with an aim to enhance Inter-Service synergy among the Indian Navy, IAF, Indian Army and Coast Guard.
The Western Naval Command (HQ- Mumbai) is one of the three command–level formations of the Indian Navy. Other two are Eastern Naval Command (HQ- Visakhapatnam) and Southern Naval Command (HQ- Kochi)

Russia-China-Iran conducts joint naval exercise CHIRU-2Q22 in Gulf of Oman

The Russian, Chinese and Iranian navies undertook naval exercises CHIRU-2Q22 in the Gulf of Oman from January 18 to 22, 2022.
The maritime drills conducted in the northern parts of the Indian Ocean aimed at deepening practical cooperation among the navies of the three countries.
The participants practiced various tactics and operations, such as rescuing ablaze vessels, saving hijacked vessels, shooting at targets, nocturnal shooting at aerial targets, and other tactical maneuvers as a part of the drill.

Russia delivers 70,000 AK-203 assault rifles to India

Russia delivered all the contracted 70,000 AK-203 Kalashnikov assault rifles to the Indian Armed Forces on January 25, 2022.
The Indian Armed Forces had placed an order for 670,000 rifles, for which the contract was signed on December 06, 2021 between India and Kalashnikov (Russian defense manufacturing unit).
The total cost of the contract is around Rs 5,124 crore.
The contract included procuring 70,000 rifles off the shelf.
The remaining 600,000 rifles will be manufactured by an Indo-Russian joint venture company, Indo-Russia Rifles Private Limited (IRRPL), based at Amethi, Uttar Pradesh India under transfer of technology (ToT). [at Korwa Rifle Factory, Amethi]
The lightweight AK-203 Rifles will replace military’s in-service INSAS (Indian Small Arms System) Rifle.

Days

International Holocaust Remembrance Day: 27 January

International Day of Commemoration in memory of the victims of the Holocaust (International Holocaust Remembrance Day) is observed on 27 January every year since 2006.
The theme of the International Holocaust Remembrance Day 2022 is “Memory, Dignity and Justice”
The objective of the day is to commemorate the anniversary of the tragedy of the Holocaust that occurred during the Second World War.
A genocide occurred during World War II in which Nazi Germany, aided by its collaborators, systematically murdered some six million European Jews, around two-thirds of the Jewish population of Europe, between 1941 and 1945.
United Nations designated the day in 2005 to serve as a date for official commemoration of the victims of the Nazi regime and to promote Holocaust education throughout the world.