Banking & Finance
1. State Bank of India revises FY21 GDP estimates to -7.0%
- State Bank of India’s Economic Research Department has revised India's FY21 GDP estimates to (-) 7.0%
- Prior to this, SBI had estimated FY21 GDP at -7.4%
- The report was authored by SBI’s Group Chief Economic Advisor Soumya Kanti Ghosh.
- Q3 and Q4 FY21 growth will also be in positive territory.
- SBI has estimated GDP of FY 22 to be 11%.
- SBI has already estimated that excluding off-balance sheet liabilities, fiscal deficit of the Centre is at 8.7% of GDP
Banking & Finance
2. RBI’s Financial Literacy Week to conclude today
- Reserve Bank of India (RBI) has launched Financial Literacy Week (FLW) from Feb 8 to 12, 2021 to propagate financial education on a particular theme across the country.
- FLW theme 2021: Credit Discipline and Credit from Formal Institutions
- FLW theme is one of the strategic objectives of National Strategy for Financial Education 2020-2025
- Focus will be on responsible borrowing, borrowing from formal institution and timely repayments
- FLW is observed every year since 2016
Honours & Awards
3. Bengaluru airport won ACI World's 'Voice of the Customer' recognition
- Bangalore International Airport Limited (BIAL) has bagged global recognition from Airports Council International World's 'Voice of the Customer' award.
- As per the 'Voice of Pax' survey that was conducted in phases, BLR Airport has made efforts in gathering passenger feedback and commitment towards delivering a superior customer experience.
- Voice of the Customer award: It recognises airports that continued to prioritise their customers during Covid-19 in 2020
Honours & Awards
4. Koozhangal Wins Tiger Award at Rotterdam International Film Festival 2021
- Tamil movie Koozhangal has won ‘Tiger’ award at 50th edition of International Film Festival Rotterdam 2021
- Koozhangal (meaning Pebbles) has been directed by Vinod Raj PS and produced by Nayanthara
- Tiger award: Top honour of the festival, given for best film.
- Koozhangal is the 2nd Indian film to win this international award, first Indian film was Durga.
- Tiger Award worth Euro 40,000 cash prize, is shared between the director and producer of the winning film
National & International Organizations
5. New Development Bank commits $100 million in NIIF Fund of Funds
- New Development Bank (NDB) has committed to invest $100 million (Rs 727.6 crore) into NIIF Fund of Funds (FoF)
- With NDB’s investment, total commitments secured by FoF has reached $800 million (about Rs 5,820 crore)
- It marks NDB’s first equity investment into India and its first-ever investment into FoF
- Currently, Government of India, Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank are the investor in the FoF. Now NDB has joined in the group
6. India’s first ever CNG Tractor to be launched tomorrow
- India’s First ever CNG Tractor of India will be launched tomorrow to help farmers increase their income, by lowering costs and creating job opportunities in rural India.
- It will facilitates farmer to save more than one lakh rupees annually on fuel costs, improving their livelihood.
- It will also help farmers to save up to 50 per cent on the fuel cost as the current Diesel prices are around 77 rupees per litre whereas CNG is only 42 rupees per kilogram.
Science & Technology
7. ‘Hope’ probe of UAE successfully enters Mars orbit
- United Arab Emirates’ (UAE) first mission to Mars, Hope Probe has successfully entered the orbit around the red planet.
- It is the first-ever interplanetary mission that arrived at Mars planet on February 9
- This made UAE fifth country in history to reach the red planet and the Arab nation’s first interplanetary mission,
- Prior to this, United States, Soviet Union, Europe and India have achieved this feat.
- HOPE probe was launched into the space in July 2020.
8. Centre Launches Official Website of India Toy Fair 2021
- Govt has launched official website of Toy India Fair 2021 theindiatoyfair.in.
- Apart from this, first-ever ‘The India Toy Fair, 2021′ will be organised from Feb 27, 2021 to March 2, 2021
- Website and online registration has been inaugurated jointly by Union Education Minister, Ramesh Pokhriyal, Union Minister of Textiles, Smriti Zubin Irani and Union Minister of Commerce Piyush Goyal.
- This initiative is in line with PM’s vision of making India Toy Industry hub
9. Drass Red win 13th CEC Cup Ice Hockey Championship
- Drass Red has won 13th CEC Cup Ice Hockey Championship beating Hockey Club Chiktan team in the Final match in Kargil, Ladakh
- The 1st Women CEC Ice Hockey Cup 2021 was lifted by Shakar Chiktan Team defeating Wakha Mulbekh Team.
- 32 Men teams and 5 Women Teams participated in the tournament which was organized by the District Youth Services & Sport
10. Maharashtra signs MoU with Flipkart for wooden toys, local artifacts
- Maharashtra Small Industries Development Corporation and Maharashtra State Khadi & Village Industries Board have signed MoU with Flipkart to promote wooden toys, local artifacts, handicrafts
- This MoU will enable artisans, weavers, craftsmen, MSMEs from Maharashtra to showcase their products to millions of customers in India
- Flipkart will provide free training for packaging and branding to all these manufacturers
- Product photography will also be done by the company
Summits & Conferences
11. PM to inaugurate Maritime India Summit 2021 on 2nd March
- PM Narendra Modi will be inaugurating Maritime India Summit-2021 on 2nd March
- The summit will be participated by around 20,000 delegates, 24 partner countries and more than 400 Projects
- It is the 2nd edition of Maritime India Summit that will be held virtually from 2nd March to 4th March.
- Organised by: Ministry of Ports, Shipping and Waterways jointly with FICCI as Industrial Partner and EY as Knowledge Partner.
- Registration for visitors and exhibitors has started