6th February 2021 Current Affairs


GK Update of sixth February 2021 overlaying the next information headlines: International Day of Zero Tolerance to Female Genital Mutilation, Energy Island, Urban Co-op banks, Federal Bank, RBI Monetary Policy.

International News

1. World’s First ‘Energy Island’ to be constructed by Denmark

  • The Government of Denmark has authorized a venture to construct the world’s first vitality island, within the North Sea that may produce and retailer sufficient inexperienced vitality to fulfill the electrical energy wants of three million households in European international locations.
  • The hub will strengthen the mixing of Europe’s energy grids and improve renewable electrical energy manufacturing crucial for a climate-neutral Europe.
  • The vitality hub will function an offshore energy plant gathering and distributing inexperienced electrical energy from lots of of wind generators surrounding the island on to customers in international locations surrounding the North Sea. It is the long-term ambition to have the ability to retailer inexperienced electrical energy on the island, convert it to liquid inexperienced gas, and ship it by way of subsea cables to Denmark and neighbouring international locations.

Important takeaways for all aggressive exams:

  • Denmark Capital: Copenhagen.
  • Denmark Currency: Danish krone.

Banking News

2. RBI to Set up Committee on Urban Co-op banks

  • The Reserve Bank of India (RBI) will arrange an professional committee on Urban Co-operative Banks (UCBs). The committee, involving all stakeholders, will present a medium-term street map for strengthening the sector, allow sooner decision/rehabilitation of UCBs.
  • Along with enabling sooner decision of UCBs, the committee may also study essential features associated to the city co-op banks.
  • The provisions of the Banking Regulation (Amendment) Act, 2020 have turn into relevant to Primary (Urban) Co-operative Banks (UCBs) from June 26, 2020.
  • The amendments have introduced close to parity in supervisory and regulatory powers between UCBs and industrial banks in respect of regulatory powers, together with these associated to governance, audit, and determination.
  • The members of the committee and its phrases of reference haven’t been notified but. It will probably be knowledgeable individually by the RBI.

3. Federal Bank launches ‘FedFirst’ financial savings account scheme for kids

  • Federal Bank has introduced the launch of “FedFirst”, a particular financial savings account scheme for kids beneath 18 years of age. The account helps kids develop wholesome saving and spending habits, thereby giving them the liberty to avoid wasting, spend and earn.
  • The account is designed to allow kids to study the significance of cash administration. The account comes with distinctive options and gives.
  • The account holder is supplied with a FedFirst contactless Debit Card with a day by day money withdrawal restrict of ₹2,500 and POS/e-com restrict of ₹10,000, along with free on-line amenities together with entry to web banking, cellular alerts and e-mail alerts.

Important takeaways for all aggressive exams:

  • Federal Bank MD & CEO: Shyam Srinivasan.
  • Federal Bank HQ: Aluva, Kerala.

Economy News

4. RBI Monetary Policy: Policy Rate unchanged

  • The six-member Monetary Policy Committee of the Reserve Bank of India (RBI), headed by Governor Shaktikanta Das, has determined to take care of the established order on coverage charge amid sticky charge of inflation.
  • At this level, the repo charge or the speed at which RBI lends to banks stands unchanged at 4 per cent. The reverse repo charge additionally stayed unchanged at 3.35 per cent. The MPC committee members voted unanimously in favour of the choice.

The key choices taken within the Monetary Policy Committee assembly are:

  • Policy Repo Rate: 4.00%
  • Reverse Repo Rate: 3.35%
  • Marginal Standing Facility Rate: 4.25%
  • Bank Rate: 4.25%
  • CRR: 3%
  • SLR: 18.00%

Important takeaways for all aggressive exams:

  • RBI twenty fifth Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

5. RBI: India’s GDP progress projected at 10.5 per cent for FY22

  • In the final bi-monthly financial coverage meet for the present, the Reserve Bank of India projected India’s GDP progress charge at 10.5 per cent for the fiscal yr 2021-22. The progress outlook has improved considerably, and the vaccination drive will additional enhance the financial rebound.
  • The apex financial institution expects the Indian economic system to develop within the vary of 8.3 per cent to 26.2 per cent within the first half of FY22, adopted by a 6 per cent progress in Q3FY22. The central financial institution’s projection is decrease than that of the Economic Survey that projected India to develop at a charge of 11 per cent within the coming fiscal.

Schemes and Committees News

6. Arvind Kejriwal launches ‘Switch Delhi’ marketing campaign to advertise electrical automobiles

  • Delhi Chief Minister, Arvind Kejriwal has launched the ‘Switch Delhi’ marketing campaign to advertise electrical automobiles and appealed to individuals to purchase such automobiles to fight air pollution within the metropolis. Kejriwal mentioned his authorities will rent solely electrical automobiles for numerous functions within the subsequent six weeks.
  • In the ‘Switch Delhi’ marketing campaign, consciousness will probably be created about the advantages of electrical automobiles and the way it can contribute to creating Delhi clear and pollution-free.
  • Under its electrical car coverage, the Delhi authorities has deliberate intensive subsidies on buy of electrical two-wheelers and four-wheelers, in addition to waiving street tax and registration costs.
  • More than 6,000 electrical automobiles have been bought for the reason that coverage launch in August 2020. The authorities has additionally issued tenders for organising 100 charging stations throughout town.
  • The authorities has mounted an bold goal of 25 per cent electrical automobiles amongst whole car registrations in Delhi by 2024.

Agreements News

7. India & Bahrain be part of palms for Renewable Energy

  • The first India-Bahrain Joint Working Group assembly within the discipline of Renewable Energy was held in a digital format on February 04, 2021, for selling bilateral cooperation within the discipline of Renewable Energy.
  • The Indian delegation was led by Dinesh Dayanand Jagdale, Joint Secretary, Ministry of New & Renewable Energy. Abdul Hussain bin Ali Mirza, President of Sustainable Energy Authority led the Bahraini delegation.
  • Both sides additionally agreed to forge deeper engagement in capability constructing and targeted cooperation between involved businesses in addition to the non-public sector of the 2 international locations on this sector, significantly within the discipline of photo voltaic, wind and clear hydrogen.

Important takeaways for all aggressive exams:

  • King of Bahrain: Hamad bin Isa Al Khalifa.
  • Bahrain Capital: Manama.
  • Bahrain Currency: Bahraini dinar.

Business News

8. Paypal to close home funds service in India from April 1

  • The California-based international digital fee platform PayPal has introduced that the corporate has determined to wind down its home fee providers in India with impact from April 01, 2021. The choice has been taken as a result of the corporate desires to shift its give attention to cross-border funds enterprise.
  • However, the worldwide buyer will have the ability to pay Indian retailers utilizing Paypal. PayPal was a funds choices on many Indian on-line apps similar to journey and ticketing service MakeMyTrip, on-line movie reserving app BookMyShow, and meals supply app Swiggy.

Important takeaways for all aggressive exams:

  • PayPal Founded: December 1998, Palo Alto, California, United States.
  • PayPal CEO: Dan Schulman.

Science and Technology News

9. HAL to develop world’s first high-altitude pseudo satellite tv for pc

  • The Hindustan Aeronautics Limited (HAL) is growing a futuristic excessive altitude pseudo satellite tv for pc with a start-up firm, to strengthen the nation’s navy strike capabilities.
  • It is a primary of its sort venture on the planet, the place a manned plane will function throughout the boundary and the unmanned plane will enter the enemy zone and might perform strikes deep contained in the enemy territory.
  • Capable of autonomous capabilities, these unmanned aerial automobiles may also have all of the manoeuvring capabilities. “It can straightway hit the goal at a distance of 700 kilometres or can go to 350 kilometres and are available again. It carries ammunition, missiles if wanted CATS Alpha.
  • The know-how has been named Combined Air Teaming System (CATS). It can have a manned plane (will probably be often called mom ship), working from distant, and 4 autonomous unmanned aerial automobiles often called CATS Warrior.
  • The satellite tv for pc will probably be photo voltaic energised and turn into a giant asset flying unmanned round 70,000 ft for 2-3 months and taking info.

Books and Authors News

10. Hunter Biden to Release Memoir ‘Beautiful Things’

  • United States President Joe Biden’s son, Hunter Biden, is publishing his memoir titled “Beautiful Things”, which narrates about his struggles with dependancy and drug abuse. The ebook is scheduled to be revealed within the United States on April 6 by Gallery Books, an imprint of Simon & Schuster.
  • The 51-year-old Hunter Biden has narrated his private story about how he was a drug addict- from his first sips of alcohol as a baby, when he was coping with the aftermath of a household tragedy, to his crack-cocaine use and the way he mounted that drawback.

Important Days

11. International Day of Zero Tolerance to Female Genital Mutilation

  • International Day of Zero Tolerance for Female is noticed globally on 6 February. This day is sponsored by the United Nations for his or her efforts to eradicate feminine genital mutilation. It was first launched in 2003.
  • This yr theme of International Day of Zero Tolerance for Female: No Time for Global Inaction: Unite, Fund, and Act to End Female Genital Mutilation.
  • Female genital mutilation (FGM) includes all procedures that contain altering or injuring the feminine genitalia for non-medical causes and is acknowledged internationally as a violation of the human rights, the well being and the integrity of women and girls.
  • Girls who endure feminine genital mutilation face short-term issues similar to extreme ache, shock, extreme bleeding, infections, and issue in passing urine, in addition to long-term penalties for his or her sexual and reproductive well being and psychological well being.