Daily Current Affairs for BBA & Hotel Management Exam: 14th February 2022

By Rajat Pandey|Updated : February 14th, 2022
  • Current Affairs plays a vital role in the preparation of BBA & IPM and HM Entrance exams. Current Affairs keep you update about the happenings around the world. The majority of questions asked in the exam are from the latest current affairs. 
  • Current Affairs not only keeps you up to date but also provides you a better perspective and knowledge about the important burning issues worldwide.

 Science & Technology

1. ISRO successfully launches earth observation satellite EOS-04

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  • ISRO has successfully launched its Earth Observation Satellite EOS-4 and two other tech demonstrator and scientific satellites from Satish Dhawan Space Centre, Sriharikota.
  • EOS-04, INSPIREsat-1 and INST-2TD were injected successfully into a sun-synchronous polar orbit by PSLV-C52.
  • EOS-04 is designed to provide high-quality images under all weather conditions for applications such as agriculture, forestry and plantations, soil moisture and hydrology and flood mapping.

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 Banking & Finance

2. Axis Bank set to buy Citigroup’s India retail banking business

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  • Axis Bank Ltd. is nearing a deal to buy Citigroup Inc.’s India retail banking business in a transaction that could be valued at about $2.5 billion.
  • An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of India.
  • The deal would include a cash component of less than $2 billion, accounting for the consumer business’s liabilities.
  • Axis Bank CEO: Amitabh Chaudhary. 

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 Banking & Finance

3. RBL Bank partners with Creditas Solutions to automate collections

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  • RBL Bank partnered with Creditas Solutions for its ‘Neo Collections’ platform.
  • The bank will utilise the SaaS-based platform to accelerate efficiency in collections across the loan cycle.
  • Powered by AI and ML technology, the platform is built to automate strategies for reaching out to customers individually in an empathetic manner and motivate them to repay loan.
  • The Neo Collections Platform will help our customers seamlessly monitor, manage and pay their dues.

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 Banking & Finance

4. Yes Bank launches Agri Infinity program

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  • Yes Bank has announced the launch of an annual startup enabler program, Yes Bank Agri Infinity.
  • It seeks to co-develop digital financial solutions for the food and agriculture ecosystem.
  • Those meeting the eligibility criteria will receive the guidance and support necessary to develop their solutions and apply them across the agricultural value chain.
  • Through the initiative, a select cohort of startups will receive mentoring by veteran bankers.

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 National Affairs

5. India ranked 46th in the Economic Intelligence Unit’s Democracy Index 2021

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  • India ranked 46th in the Economic Intelligence Unit’s Democracy Index 2021.
  • The report described the state of democracy in 165 countries.
  • The report was prepared based on five parameters viz. functioning of the govt, electoral process and pluralism, political participation, civil liberties and political culture.
  • Norway topped the list with a score of 9.75 followed by New Zealand and Finland.
  • Afghanistan and Myanmar took the bottom two spots, just below North Korea.

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 Agreement

6. IIT-M Research Park, Saint-Gobain India sign MoU on renewable energy

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  • Saint-Gobain India and the IIT Madras, Research Park have signed an MoU to develop a 100 per cent renewable energy, research park.
  • Saint-Gobain would support IIT-M with a funding of Rs 1 crore over the next 3 years.
  • The aim through this collaboration was to boost the transformation towards a low carbon future and to aid India in achieving 100% renewable energy.
  • Objective: To focus on addressing the energy challenges and promote maximum use of alternate energy sources.

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 National & International Appointments

7. German president Frank-Walter Steinmeier re-elected for another term

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  • Frank-Walter Steinmeier was elected to a second term of five years as Germany's president.
  • He was elected with a big majority by a special assembly comprising of the members of lower house of parliament and representatives of 16 states of Germany.
  • He became president in 2017.
  • Before that, he served two stints as foreign minister of Chancellor Angela Merkel and as chief of staff to Chancellor Gerhard Schroeder.
  • Germany Chancellor: Olaf Scholz
  • Currency of Germany: Euro

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 International Affairs

8. Israel becomes 1st country to allow drone flights in civilian airspace

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  • Israel becomes the first-ever country to allow drones in civilian airspace.
  • The certification was issued to the Hermes Starliner unmanned system by the Israeli Civil Aviation Authority.
  • And was manufactured and developed by Elbit Systems, an Israeli defense electronics company.
  • The UAVs will be used for the benefit of agriculture, environment, public welfare, economic activity and against crime.
  • Capital-Jerusalem
  • PM – Naftali Bennett
  • Currency- Israeli Shekel

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 National Affairs

9. Indian ranked 4th in Global Entrepreneurship Monitor (GEM) 2021/2022 report

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  • According to the Global Entrepreneurship Monitor 2021/2022 report, India is 4th easiest places to start a new business.
  • It was topped by Saudi Arabia and followed by Netherlands & Sweden.
  • The GEM report put India on the top amongst low-income economies on different Entrepreneurial Framework Conditions.
  • These are Entrepreneurial Finance, Ease of Access to Finance, Government Policy: Support and Relevance; and Government Support: Taxes and Bureaucracy.

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 Banking & Finance

10. Bank of Baroda to acquire Union Bank's stake in IndiaFirst Life Insurance

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  • Bank of Baroda will acquire Union Bank of India's 21% stake in IndiaFirst Life Insurance Company.
  • It is a joint venture between Bank of Baroda, Union Bank of India and Carmel Point Investments.
  • At present, the shareholding in IFIC is BoB holds 44%, Carmel Point Investments India holds 26% and UBI holds 30%.
  • The acquisition is pursuant to a ‘Right of First Offer’ made by UBI to the existing shareholders of IndiaFirst Life, to divest 21% of its stake in IndiaFirst Life.

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 Agreement

11. MOD inks pact with Bengaluru firm to develop ‘Pseudo Satellite’

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  • Ministry of Defence has inked a deal to design and develop ‘High Altitude Pseudo Satellite’ (HAPS) with a Bengaluru-based firm.
  • Aim: Bolstering the ambit of surveillance operations and airborne communications.
  • With the estimated budget of ₹700 crore to develop the system, the initiative will be part of HALs Combat Air Teaming System (CATS) which seeks to integrate manned airborne platforms with swarm drones and a high altitude surveillance network.

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 National Affairs

12. APEDA celebrates its 36th Foundation Day

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  • Agricultural Products Export Development Authority (APEDA) celebrated its 36th Foundation Day on 13th February.
  • APEDA actively supported the Government in taking the export of agricultural products to 20.67 billion dollar in 2020-21 from 0.6 billion dollar in 1986 when it was founded.
  • The target given to APEDA in the current financial year is 23.7 billion dollar, out of which more than 70 per cent has been achieved till January this year. 

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