Monthly Current Affairs Capsule February 2021
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Monthly Current Affairs Capsule February 2021 Monthly Current Affairs- February 2021 S No Table of Contents Page No 1. Banking & Finance 02 2. Business and Economy 22 3. Government schemes 30 4. National 34 5. State 103 Page 1 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 6. International 152 7. Summits and Conferences 177 8. Ranks and Indices 188 9. Appointments 191 10. Agreements and MoU signed 198 11. Sports 213 12. Defence 230 13. Awards 234 14. Science and Technology 247 15. Books and Authors 251 16. Important Days and Themes 256 17. Obituaries 258 Banking & Finance Students in Karnataka's Hubballi made robot to help in banking services • Engineering college students in Hubballi have come up with 'Maya',a robot that has been programmed to serve in banks and speaks in many regional languages. • The students of the Automation and Robotics department of KLE Technological University have spent nearly eight months and spent Rs 5 lakh to develop the robot. Page 2 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 • It was developed keeping banking sectors in mind and programmed with all banking activities such as advising the customers on opening accounts, sending them to designated counters for queries. • With the help of artificial intelligence, it recognises customers' faces and responds to them by using a chatbot. • After the banking hours, it automatically goes to the docking yard and charges its batteries without the help of any human being. PNB customers won't be able to withdraw money from these ATMs • The Punjab National Bank (PNB) has taken a giant step and won't allow its customers to withdraw money from non-EMV automated teller machines (ATMs). • To protect our esteemed customers from fraudulent ATM activities, PNB will be restricting transactions (financial and non-financial) from Non-EMV ATM machines from February 1, 2021. • Punjab National Bank has introduced PNB One App that allows PNB debit card users to switch on or off their debit card through this app. What are non-EMV ATMs • Non-EMV ATMs are those which read data through magnetic strips and do not hold the ATM card during the transaction. • In such ATMs, Data Magnetic Chips enabled reading is done by the ATM machine and for a few seconds one's debit card gets locked. About PNB : • Headquarters :New Delhi • CEO : S.S. Mallikarjuna Rao • Founded : 19 May 1984, Lahore, Pakistan Page 3 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 In 2021 Budget Govt proposes to introduce single securities markets code • The government proposed to introduce a unified securities markets code, a move that will help in boosting the ease of doing business in the country's financial markets. • The proposed move would help in cutting down compliance costs and reducing the friction between rules enacted by capital markets watchdog Sebi, depositories and government • Finance Minister in her Budget speech for 2021-22 proposed to consolidate the provisions of Sebi Act, Depositories Act, Securities Contracts (Regulation) Act and Government Securities Act into a rationalised single securities markets code. • The proposal to create a unified securities market code is very progressive as it aims to simplify and reduce the friction between rules enacted by various acts of Sebi, depositories. • Sebi Act - 1992 • Depositories Act - 1996 • Securities Contracts (Regulation) Act - 1956 • Government Securities Act - 2007 About Sebi : • Securities and Exchange Board of India • Founded : 12 April 1992 • Headquarters : Mumbai • Chairperson : Ajay Tyagi RBI unveils risk-based internal audit guidelines for select NBFCs, UCBs • The Reserve Bank of India (RBI) issued guidelines on risk-based internal audit (RBIA) system for select non-bank lenders and urban co-operative banks (UCBs). Page 4 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 • NBFCs and UCBs have grown in size and become systemically important, prevalence of different audit systems/approaches in such entities has created certain inconsistency. • The entities have to implement the RBIA framework by March 31, 2022 • This is mainly for Strengthen the quality and effectiveness of the internal audit system of selected entities. • The regulator also specified that RBIA policy shall clearly document the purpose, authority, and responsibility of the internal audit activity, with a clear demarcation of the role and expectations from risk management function and risk -based internal audit function. • RBI, in its monetary policy statement on December 4, 2020, had announced that suitable guidelines would be issued to large UCBs and NBFCs for the adoption of RBIA to strengthen the internal audit function, which works as a third line of defence. About RBIA : • RBIA is an audit methodology that links with an organisation’s overall risk management framework and provides an assurance to the board of directors and the senior management on the quality and effectiveness of the organisation’s internal controls, risk management and governance-related systems and processes. About RBI : • Headquarters : Mumbai • Founder : British Raj • Governor : Shaktikanta Das RBI Monetary Policy:repo rate unchanged at 4% • The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) kept its repo rate unchanged at 4 percent while maintaining an ‘accommodative stance’ as long as necessary at least through the current financial year to the next year. Page 5 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 • Reverse Repo Rate- 3.35% • Marginal Standing Facility Rate- 4.25% • Bank Rate- 4.25% • CRR- 3% • SLR- 18.00%. • This is the first MPC meeting after the presentation of the Union Budget 2021-22. The six- member MPC headed by RBI Governor Shaktikanta Das meets every two months to analyze the state of the Indian economy and inflation and address the monetary issues in the country. • This month, it began the 3-day bi-monthly meeting on Wednesday, February 3. • The CPI projection is revised to 5.2 percent for Q4 FY21 and CPI inflation is pegged at 5-5.2 per cent in H1 FY22. • Shaktikanta Das announced an integrated ombudsman scheme for customer grievance redressal, which will be rolled out by June 2021. About Monetary Policy Committee : • Founded : 27 June 2016 About RBI : • Headquarters : Mumbai • Founder : British Raj • Governor : Shaktikanta Das RBI Governor Shaktikanta Das :GDP growth projected at 10.5% in FY22 • The Union Budget 2021, the Reserve Bank of India (RBI) projected a GDP growth rate of 10.5 percent for the financial year beginning 1 April. • RBI projects GDP at 10.5% in FY22. Page 6 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 • The growth outlook has improved significantly and the vaccination drive will help the economic rebound. • RBI's estimate is in line with the pre-Budget Economic Survey that predicted a 'V-shaped' recovery that said that the Indian economy will rebound with 11 per cent growth in the next financial year. • The apex bank expects the Indian economy to grow in the range of 8.3 percent to 26.2 percent in the first half of FY22, Followed by 6 percent growth in Q3FY22. RBI releases Annual Report of Ombudsman Schemes for 2019-20 • The Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for the year 2019-20. • There was an increase of around 65 per cent in the receipt of complaints out of which almost 92 per cent have been disposed of. • RBI has three Ombudsman- Banking, Non-Banking Finance Company (i.e. NBFC) and digital transactions. A common man can approach these Ombudsman for their grievances. • The Banking Ombudsman received major complaints regarding ATM & Debit Cards, Mobile & Electronic Banking. • NBFC’s Ombudsman received most complaints about non-observance of regulatory guidelines, lack of transparency in contract/ loan agreement and levy of charges without notice. • Digital Transactions Ombudsmen received most complaints about fund transfer • As announced in the Monetary Policy Statement last week, the three Ombudsman Schemes are being merged and integrated into a single scheme which will be rolled out starting from June this year. About RBI : • Governor : Shaktikanta Das Page 7 of 258 Get to Download Our Special Paid PDFs | Get High Standard Mock Test Series for all Bank Exams If there are any suggestions/ errors in our PDFs Feel Free to contact us via this email: [email protected] Monthly Current Affairs Capsule February 2021 • Headquarters : Mumbai • Founded : 1 April 1935, Kolkata • Founder : British Raj PhonePe, Axis Bank partner on UPI Multi-Bank • Digital payments platform PhonePe announced that it has partnered with Axis Bank on a Unified Payments Interface (UPI) multi-bank model.