General Knowledge & Current Affairs

January 2022 - 22nd to 31th

1. Barbados Prime Minister Mia Mottley wins second consecutive term.

  • Barbados Prime Minister Mia Mottley was sworn in for a second term in office on 20 January 2022, following a landslide victory by her party in the 2022 election. She is serving as the Prime Minister of Barbados since 2018.
  • She is the leader of the Barbados Labour Party (BLP) since 2008. She is the first woman prime minister of the country as well as first PM under a republic system.

2. NATO partners to hold maritime drills in Mediterranean Sea.

  • The NATO (North Atlantic Treaty Organization) member countries will be conducting a 12-day maritime exercise in the Mediterranean Sea from January 24, 2022. The name of the maritime exercise is “Neptune Strike ’22”. The naval drill will end on February 04, 2022. The main purpose of this exercise will be to demonstrate and test NATO’s wide range of maritime capabilities.
  • The US announced the decision to hold NATO naval drills, which will involve the participation of the USS Harry Truman aircraft carrier, a day after Russia said it would demonstrate its own naval capabilities for two months, January and February, from the Pacific to the Atlantic Sea.

3. Russia-China-Iran conducts joint naval exercise CHIRU-2Q22.

  • The Russian, Chinese and Iranian navies undertook naval exercises CHIRU-2Q22 in the Gulf of Oman. 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 practised various tactics and operations, such as rescuing ablaze vessels, saving hijacked vessels, shooting at targets, nocturnal shooting at aerial targets, and other tactical manoeuvres as a part of the drill. At least 140 warships and over 60 aircraft with nearly 10,000 military personnel would be taking part in the military exercises.

4. World’s-largest canal lock unveiled in Netherlands.

  • The world’s largest canal lock has been inaugurated at Ijmuiden, a small port city, in the Port of Amsterdam, The Netherlands. The sea lock was inaugurated by Dutch King Willen-Alexander.
  • The Ijmuiden sea lock is 500-meter (1,640-feet) long and 70-meter wide. Construction on the massive infrastructure project began in 2016 and was meant to be done by 2019. It also went over the initially planned budget by around €300 million ($338 million).
  • The Ijmuiden lock was designed to allow large, modern cargo ships to reach the port of Amsterdam. The structure is also deep enough that ships will no longer have to wait for a favourable water level to enter the canal. With almost nine meters above the sea leave, the structure is also a defence against the threat of flooding.

1. PM Narendra Modi unveils hologram statue of Netaji Subhas Chandra Bose.

  • Prime Minister Narendra Modi has unveiled a hologram statue of Netaji Subhas Chandra Bose at India Gate on Parakram Divas. The size of the hologram statue is 28 feet in height and 6 feet in width. A grand statue, which will be made of granite, will replace the hologram statue once it is completed.
  • The statue is being installed on the 125th birth anniversary as a tribute to the immense contribution of Netaji in the country’s freedom struggle and would be a symbol of the country’s indebtedness to him.
  • The prime minister also conferred the ’Subhas Chandra Bose Aapda Prabandhan Puraskar’ for the years 2019, 2020, 2021, and 2022 in the investiture ceremony. A total of seven awards were presented during the ceremony.
  • Gujarat Institute of Disaster Management (in the Institutional category) and Professor Vinod Sharma (in the Individual category) have been selected for the Subhash Chandra Bose Aapda Prabandhan Puraskar for their excellent work in Disaster Management for the year 2022.

2. India’s First “District Good Governance Index” launched.

  • The Union Minister of Home and Cooperation Amit Shah has virtually released India’s First “District Good Governance Index” for 20 districts of Jammu and Kashmir. The top 5 districts in the District Good Governance Index” are (1) Jammu, (2) Doda, (3) Samba, (4) Pulwama and (5) Srinagar.
  • This index has been prepared by the Department of Administrative Reforms and Public Grievances (DARPG) in collaboration with the Government of Jammu & Kashmir. The District Good Governance Index (DGGI) is a framework document comprising of performance under ten governance sectors having 58 indicators with 116 data points.

3. Govt annouces 40-100 per cent subsidy to popularise drone in agriculture.

  • Union Agriculture Ministry has amended the guidelines of Sub-Mission on Agricultural Mechanization (SMAM) to provide 40-100 per cent subsidy until March 2023 in purchasing drones for farm mechanization. After the amendment, a grant for the purchase of drones up to 100 per cent of the cost of agriculture drones or Rs 10 lakhs, whichever is less, can be given.
  • Farm Machinery Training and Testing Institutes, Indian Council of Agricultural Research (ICAR) institutes, Krishi Vigyan Kendras and State Agriculture Universities- 100% subsidy- Rs 10 lakh maximum
  • Agriculture graduates establishing Custom Hiring Centers (CHCs)= 50 per cent subsidy up to Rs 5 lakh
  • Existing CHCs or new ones, already or to be set up by a cooperative society of farmers, farmer producers organizations (FPOs) and rural entrepreneurs are entitled to receive= 40 per cent subsidy (maximum Rs 4 lakh).

4. India Celebrating 73rd Republic Day on 26 January 2022.

  • India is celebrating the 73rd Republic Day on 26 January 2022. The celebrations this year are special as India is in the 75th year of Independence – being celebrated as ‘Azadi ka Amrit Mahotsav’.
  • Republic Day marks the date on which the Constitution of India came into effect on 26 January 1950. It replaced the Government of India Act (1935) as the governing document of India.
  • After almost 3 years, the 308 members of the Assembly, after many consultations and a few modifications finally signed a constitution on 24th of January 1950, which came into effect on 26th of January 1950.
  • And, that day, is being celebrated as Republic Day in India ever since then. This day defines the importance of having a proper constitution that all the citizens must abide by.

5. India unveils 5-year roadmap to becoming $300-billion electronics powerhouse

  • Ministry of Electronics and Information Technology (MeitY) has released a 5-year roadmap and Vision Document 2.0 for the electronics sector.
  • 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. 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.
  • This roadmap is the second volume of a two-part Vision Document – the first of which was released in November last year. The first part of the document titled “Increasing India’s Electronics Exports and Share in GVCs” was released in November 2021.

6. India pays $29.9 million in UN regular budget assessments for 2022

  • India has paid USD 29.9 million in UN regular budget assessments for the year 2022. As of January 21, 2022, 24 Member States have paid their regular budget assessments in full.
  • India is currently a non-permanent member of the 15-nation Security Council and its two-year term will end on December 31, 2022.
  • “India proud to pay again in full! India joins the 2022 Honour Roll of 24 Member States out of 193 that have paid their @UN RegularBudget Assessments in full,” India’s Permanent Mission to the UN tweeted.

7. Lok Sabha secretariat launches Digital Sansad app

  • Lok Sabha Speaker Om Birla has launched the official mobile application of the Parliament named ‘Digital Sansad App’ on January 27, 2022, to allow citizens to access live proceedings of the House, including the Union Budget 2022 live.
  • The app will make the Parliament and Parliamentary proceedings accessible not only to the members but also to the public of the country.
  • Through the Digital Sansad App, citizens can check what their members of Parliament are doing, what debates they are participating in and what they are saying. Using the app, parliamentarians can also digitally log their attendance.
  • The app contains information on budget speeches since 1947 as well as House discussions from the 12th Lok Sabha to 17th Lok Sabha. It will also contain a live telecast of Sansad proceedings. 2022 Budget session can also be watched live on this App.

1. Himachal Pradesh CM launched ‘Apna Kangra’ app

  • Chief Minister of Himachal Pradesh, Jai Ram Thakur has launched the ‘Apna Kangra’ app and hampers handcrafted by self-help groups (SHGs) at Dharamsala, Himachal Pradesh.
  • The app aims to provide a hassle-free experience for tourists and to boost sales of local handicrafts. While the app is bound to provide a unique experience for tourists on the one hand, on the other it will serve as an e-marketing platform for SHG products from the district.
  • The CM also virtually inaugurated Radhe Krishna Cow Sanctuary at Luthan in Jawalamukhi Vidhan Sabha area of Kangra. The govt of HP initiated the scheme ‘Mukhya Mantri HIMCARE’ to provide medical services to cattles.

2. Karnataka became India’s first state to launch AVGC Center of Excellence

  • The government of Karnataka has launched India’s first AVGC Center of Excellence (CoE) (Animation, Visual Effects, Gaming, and Comics) in Mahadevapura, Bengaluru, Karnataka.
  • AVGC CoE was launched with pioneering high technology digital media hub under its Innovate Karnataka initiative. It is funded by the Department of Electronics Information Technology Biotechnology and Science & Technology. Karnataka became India’s first state to set up such an AVGC CoE, it is also the biggest centre in Asia.
  • The centre also has a finishing school that offers unique courses based on emerging technology such as virtual reality, digital compression, photogrammetry, gamification of education, real-time virtual production, and other emerging technologies.

3. Kerala got its first-ever scientific bird atlas

  • Kerala Bird Atlas (KBA), the first-of-its-kind State-level bird atlas in India, has created solid baseline data about the distribution and abundance of bird species across all major habitats, giving an impetus to futuristic studies.
  • It is being conducted as a citizen science-driven exercise with the participation of over 1,000 volunteers of the birdwatching community KBA has been prepared based on systematic surveys held twice over 60 days a year.
  • Conducted as a citizen science-driven exercise with the participation of over 1000 volunteers of the bird watching community, KBA was prepared based on systematic surveys held twice over 60 days a year during the wet (July to September) and dry (January to March) seasons between 2015 and 2020.

4. Ramgarh Wildlife Sanctuary set to be notified as 4th tiger reserve of Rajasthan

  • Ramgarh Vishdhari Wildlife Sanctuary, which is among the proposed five sites in the country, is expected to be formally notified as tiger reserve (TR) soon before the Global Tiger Summit, which is to be held at Vladivostok, Russia.
  • The Centre also announced the development during the 4th Asia ministerial conference on tiger conservation. The Centre has already given its approval of granting tiger reserve status to Ramgarh Vishdhari Wildlife Sanctuary, along with MM Hills in Karnataka, Guru Ghasidas National Park in Chhattisgarh.
  • The Ramgarh Vishdhari Sanctuary will be spread across 1,071 sq kms. A 302 Sq Km area in the proposed tiger sanctuary will be left as critical habitat for Tigers and the rest of the area will act as a buffer zone for the Ranthambore National Park.
  • Ramgarh Vishdhari Wildlife Sanctuary was established in 1982. The core areas of the sanctuary have 8 villages and are home to large numbers of wild animals like sambhars, caracals, wild boars, nilgai, and striped Hyena.

5. Russia delivers all the contracted 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. 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 defence 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 the military’s in-service INSAS (Indian Small Arms System) Rifle.

6. 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. 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. The other two are Eastern Naval Command (HQ- Visakhapatnam) and Southern Naval Command (HQ- Kochi).
  • A variety of weapon firings in a realistic tactical scenario, besides validation of operational missions and tasks under varying settings, were undertaken during the exercise. The exercise provided all participating forces an opportunity to operate together under realistic conditions, in responding to contemporary maritime challenges, across the areas of the Command’s responsibility.

7. India’s first graphene innovation center to be established in Kerala

  • India’s first innovation center for graphene will be set up in Kerala by the Digital University Kerala (DUK), along with the Center for Materials for Electronics Technology (C-MET) in Thrissur, for Rs 86.41 crore.
  • This will be the first graphene Research and Development (R&D) incubation center in the country. Tata Steel Limited is set to be the industrial partner of the center.
  • The Ministry of Electronics and Information Technology, Government of India, has given approval for the project. The project, which will be implemented with the support of the Kerala government, is expected to accelerate the state’s growth in the knowledge industry sector.

1. RBI Paper: Optimal hedge ratio for ECBs is at 63%

  • According to a Reserve Bank of India (RBI) Working Paper, the optimal hedge ratio for the External Commercial Borrowings (ECBs) raised by firms in India is estimated at 63 per cent for the periods of high volatility in the foreign exchange (forex/FX) market.
  • An optimal hedge ratio is a ratio that implies the percentage of total asset or liability exposure that an entity ought to hedge against exchange rate fluctuations.
  • According to the Paper, domestic economic activity and movements in the exchange rate of the Indian rupee are the two major factors influencing the ECBs issuance. Depreciation of the Indian rupee has an adverse impact on the issuance of ECBs in the short as well as long run.

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

  • The Government of India has sanctioned and notified the Scheme for the amalgamation of the Punjab and Maharashtra Co-operative Bank Ltd with Unity Small Finance Bank Ltd. 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 promoters have infused capital of Rs 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 up to amount insured by DICGC i.e Rs 5 Lakh) in instalments 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).

3. City Union Bank launches fitness watch debit card in tie-up with GOQii

  • City Union Bank in association with smart-tech-enabled preventive healthcare platform GOQii and powered by the National Payments Corporation of India (NPCI), has launched a wearable payment solution called CUB fitness watch debit card.
  • Customers need to hold this wristwatch in front of the PoS device during payment like tapping the card on PoS. For payments above Rs 5,000, customers need to tap and enter their PIN. The introductory price of a smartwatch debit card is Rs 3,499, as compared to an actual cost of Rs 6,499).

4. SBI listed the maiden issue of $300 million Formosa bonds on India INX

  • State Bank of India (SBI) has issued $300 million Formosa bonds and listed the issuance on India INX GIFT IFSC. The lender is the first Indian entity to raise money through Formosa Bond, which is a bond issued in Taiwan.
  • SBI was the first issuer whose Green bonds were dually listed in November 2021 on Luxembourg Stock Exchange through an MOU that has been entered into by both Exchanges.
  • This first successful issuance of Formosa Bond by any Indian commercial bank, is a testimony of the confidence reposed by the overseas investors into India’s growth story and also in SBI.

5. SPMCIL opens new bank note printing lines at Nashik and Dewas

  • Security Printing and Minting Corporation of India Limited (SPMCIL) has set up ‘new banknote printing lines’ at its Currency Note Press, Nashik and Bank Note Press, Dewas. In India, four printing presses for printing and supply of Banknotes.
  • These are at Dewas in Madhya Pradesh, Nasik in Maharashtra (owned by SPMCIL), Mysore in Karnataka, and Salboni in West Bengal (owned by Bharatiya Reserve Bank Note Mudran Private Limited (BRBNMPL)).
  • SPMCIL, a Government of India owned Miniratna company, is engaged in the manufacture/production of Currency and Bank Notes, Security Paper, Non-Judicial Stamp Papers, Postal Stamps, Passport, Visa, Cheques, Bond, Warrant, Special Certificates with security features, Security Inks, Circulation & Commemorative Coins, Medallions, Refining of Gold & Silver, and Assay of Precious Metals among others.

1. India’s first para-badminton academy launched in Lucknow

  • India’s first para-badminton academy has been set up in Lucknow, Uttar Pradesh. It has all the advanced equipment and facilities. The set-up will improve India’s medal prospects at the 2024 Paralympics to be held in Paris, France at Stade de France stadium.
  • The badminton centre has been launched by the head national coach of the Indian para-badminton team, Gaurav Khanna, in association with Ageas Federal Life Insurance.

2. PV Sindhu wins title at Syed Modi badminton 2022

  • Ace Indian shuttler, PV Sindhu has bagged the women’s singles title at the Syed Modi International Tournament in Lucknow. Sindhu beat fellow Indian Malvika Bansod 21-13 21-16 to win her second Syed Modi title after 2017.
  • The 2022 Syed Modi International badminton tournament was held at Babu Banarasi Das Indoor Stadium in Lucknow, Uttar Pradesh from 18 to 23 January 2022.

3. Lucknow IPL team to be called Lucknow Super Giants

  • Lucknow’s IPL franchise, which is owned by Sanjiv Goenka (RPSG Group), has been renamed Lucknow Super Giants ahead of the Indian Premier League (IPL) 2022 mega auction.
  • Lucknow team roped in KL Rahul as their captain and also roped in Australia all-rounder Marcus Stoinis and leg-spinner Ravi Bishnoi. The official IPL team of Lucknow crowdsourced its name from fans and a consumer engagement campaign was launched on social media on 3rd Jan 2022.
  • Last year, the franchise was purchased by the Sanjiv Goenka-owned of the RPSG group for an amount of Rs 7090 Crores. The other new team to enter the competition is from Ahmedabad who were bought by the Irelia Company Pte Ltd. (CVC Capital Partners) for Rs 5635 Crores.

4. Women’s Asia Cup Hockey 2022: India beat China to win Bronze

  • India defeated China, 2-0 to win the bronze medal at the 2022 Women’s Hockey Asia Cup tournament. The 2022 Women’s Hockey Asia Cup was the 10th edition of the quadrennial Women’s Hockey Asia Cup.
  • The tournament was held from January 21 to 28, 2022 at the Sultan Qaboos Sports Complex in Muscat, Oman. Japan defeated South Korea 4-2 in the final to win their third title at the Women’s Hockey Asia Cup tournament.

5. Australian Open 2022: Rafael Nadal beats Daniil Medvedev

  • Rafael Nadal (Spain) has defeated Daniill Medvedev (Russia) 2-6,6-7,6-4,6-4,7-5 to win the Men’s Singles title at the Australian Open 2022. This is his 21st Major title, becoming the first male player to do so.
  • In women’s tennis, Margaret Court (Australian) has 24 singles majors, an all-time record. In women’s, World Number 1 Ashleigh Barty of Australia defeated Danielle Collins of the US, 6-3 7-6, to win women’s singles final title at the Australian Open 2022.

6. 6th Pan Am Women Cup Hockey Championship: Argentina beat Chile

  • Argentina defeated Chile, 4-2 to win its 6th women’s field hockey championship title at the 2022 Women’s Pan American Cup.
  • The Women’s Pan American Cup is the quadrennial international championship of the Americas organized by the Pan American Hockey Federation.
  • The 2022 Women’s Pan Am Cup was the sixth edition of the championship. It was held from January 19 to 29, 2022 in Santiago, Chile. With this win both Argentina and Chile have sealed automatic qualification spots at the FIH Hockey Women’s World Cup, Spain and Netherlands 2022.

1. IMF down 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 per cent, in its latest world economic outlook report. 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%.
  • According to the IMF, India’s prospects for 2023 are marked up on expected improvements to credit growth and, subsequently, investment and consumption, building on the better-than-anticipated performance of the financial sector.

2. Economic Survey 2022: Key highlights of Economic Survey

  • Finance Minister, Nirmala Sitharaman has presented Economic Survey 2021-22 in the Parliament on 31st January 2022. The pre-budget Economic Survey, which is tabled in Parliament ahead of the Union Budget to present the state of the economy and suggest policy prescriptions.
  • The pre-Budget Economic Survey is authored by a team led by Chief Economic Advisor (CEA). Days before the presentation, the Centre appointed economist V Anantha Nageswaran as the new CEA.

1. J&K Police Bags Highest 115 Police Medals For Gallantry

  • Jammu and Kashmir Police has bagged 115 Police Medals for Gallantry (PMG), out of a total of 189 awarded this year. They more than doubled their last year’s tally of 52 PMGs.
  • J&K Police won awards for conducting several counter-insurgency operations in 2019-20. Police personnel from Jammu and Kashmir have been awarded 115 Police Medals for Gallantry, the highest number from any police force this year, followed by CRPF with 30, Chhattisgarh Police with 10, Odisha Police with nine, and Maharashtra Police with seven.

2. India’s largest EV charging station opened at Gurgaon

  • India’s largest electric vehicle (EV) charging station with a capacity of 100 charging points for 4 wheelers, was opened at Delhi-Jaipur National Highway in Gurugram.
  • Previously, India’s largest EV charging station was situated in Navi Mumbai with 16 AC & 4 DC charging ports for EVs. The new EV charging station has been developed by tech-piloting company Alektrify Private Limited.

This EV charging station will not only boost the electric vehicles industry in the region but will also act as a benchmark for large EV charging stations across the nation in future. The electric vehicle charging station of this size and magnitude is rare and will be instrumental for the industry to experience actual Ease of Doing Business in smooth ‘Certification Compliance’ and ‘Safety Standards’.

1. GoI appoints Anantha Nageshwaran as chief economic advisor

  • The Government of India has appointed Dr V Anantha Nageswaran as the new Chief Economic Adviser. The announcement came days ahead of the presentation of the 2022 Union Budget on February 1 and the tabling of the 2021-22 Economic Survey on January 31.
  • This post was lying vacant since December 17, 2021, when KV Subramanian left the office. He is a former member of the Prime Minister’s Economic Advisory Council (PMEAC).
  • Dr Nageswaran, who is a noted writer, author, teacher, and economic consultant, has taught at several business schools and institutes of management across India and abroad. Before his appointment as the Chief Economic Adviser, he was the Dean of the IFMR Graduate School of Business and a visiting professor of Economics at the Krea University in Andhra Pradesh.

2. Pushp Kumar Joshi named to be new chairman and MD of HPCL

  • Pushp Kumar Joshi has been named to be the new chairman and managing director of Hindustan Petroleum Corporation Ltd (HPCL), the nation’s third-largest oil refining and fuel marketing company.
  • Joshi, who is currently Director – Human Resources at HPCL has been on the board of HPCL for almost a decade now. He will replace Mukesh Kumar Surana, who superannuates on April 30 this year.
  • The recommendation will now go to the Appointments Committee of the Cabinet (ACC) headed by the Prime Minister (PM) of India. ACC will decide on his selection after getting reports from anti-corruption agencies such as CVC (Central Vigilance Commission) and CBI (Central Bureau of Investigation).

1. Jio tie-up with Finland’s University of Oulu to accelerate 6G research

  • Jio Platforms (JPL) has signed a pact with the University of Oulu, Finland, to accelerate research and standardization in 6G technology. JPL and the University of Oulu will collaborate in Research and Development (R&D) of aerial and space communication, holographic beamforming, 3D-connected intelligence in cybersecurity, microelectronics, and photonics.
  • The collaboration will develop competency with 6G enabled products in the defence, automotive, white goods, industrial machinery, consumer goods, efficient manufacturing, novel personal smart device environments, and experiences such as urban computing and autonomous traffic settings.

2. TerraPay tie-up with NPCI International to boost cashless transactions

  • TerraPay has signed MoU with NPCI International Payments Limited (NIPL) to allow Indian customers with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s secure payments technology. It will enable a seamless and convenient cross-border remittances experience.
  • NIPL is an international arm of the National Payments Corporation of India (NPCI). This association with NIPL will allow Indians with an active UPI ID to receive real-time, international payments into their bank accounts via TerraPay’s adaptive and secure payments technology.
  • The intended collaboration will now further empower UPI users to leverage TerraPay’s agile interoperable payments infrastructure to receive payments on a fully regulated, secure, scalable, and efficient channel.

3. Google to invest upto $1 Billion in Bharti Airtel

  • Bharti Airtel and Google have announced a long-term partnership agreement, to accelerate the growth of India’s digital ecosystem. Under the deal, Google will invest USD 1 billion in Airtel.
  • From the total investment, Google will invest USD 700 million to acquire a 1.28 per cent stake in Bharti Airtel Ltd. The remaining USD 300 million will go toward multi-year commercial agreements with Airtel, including devices built together by the two tech giants.
  • The USD 1 billion funding is part of Google’s USD 10 billion ‘Google for India Digitization Fund’, launched in 2020. This is Google second investment in an Indian telecom service provider (after Reliance Jio). Discussion between the two companies had been going on since the first half of 2021 and culminated in an announcement.

4. India tie-up with Israel to convert 150 villages into ‘Villages of Excellence’

  • The Government of India has joined hands with the Government of Israel to create 150 ‘Villages of Excellence’ in 12 States of the country, to help farmers to adopt the latest technology in the farm sector. Israel would provide Technical assistance and other expertise to make agriculture a more profitable business.
  • The 150 villages that are located around CoEs will be converted into ‘Villages of Excellence.’ Out of which, 75 villages are being taken up in the first year to commemorate the 75th year of India’s independence. Already, the Israeli government has established 29 Centres of Excellence (CoEs) in 12 states.

5. Meta tie-up with FICCI to support 5 lakh women-owned SMBs across India

  • Social media giant Meta has partnered with industry body the Federation of Indian Chambers of Commerce & Industry (FICCI) to support five lakh women-led small businesses across India.
  • Meta will undertake this initiative under its #SheMeansBusiness programme, in partnership with FICCI’s ‘Empowering the Greater 50%’ initiative. The initiative will create a supportive ecosystem for women and inspire them to become contributors to the overall development of the country.

1. Indian Armed Force selected ‘Saab’ for supply of Anti-Armour weapon

  • Swedish defence company ‘Saab’ had been selected by the Indian Armed Force through a competitive programme for the supply of single-shot anti-armour weapon AT4. AT4 will be used by the Indian Army and the Indian Air Force.
  • The order includes the AT4CS AST, which can be fired from confined spaces such as from inside buildings, bunkers and other urban environments. Carl-Gustaf system of Saab is being already used by the Indian Armed Forces.
  • AT4 will be operated by a single soldier and its single-shot system has proven efficacy against structures landing craft helicopters armored vehicles and personnel. Its 84 mm calibre warhead offers enhanced power and performance to the Indian armed forces.
  • The weapon can be fired with a range of projectiles, such as high-explosive anti-tank rounds, anti-structure tandem-warheads, and high explosive rounds. It can penetrate more than 17.5 inches (44 centimeters) of armour.
  • The AT4 is equipped with an optical night sight for missions in low-light environments and has a minimum arming distance of 10 meters (32.8 feet), making it more accurate when hitting closer targets.

1. Former India footballer Subhas Bhowmick passes away

  • Former India footballer Subhas Bhowmick has passed away at the age of 72 years due to prolonged illness. He was born in West Bengal. He was part of the Indian Football team that won a bronze medal at the 1970 Asian Games (held in Bangkok).
  • He also scored a hat-trick against the Philippines in the Merdeka Cup in 1971. He has also served as the coach for football teams like Mohun Bagan and East Bengal.

2. Veteran Marathi author and social activist Anil Awachat passes away

  • Renowned Marathi author and social activist Anil Awachat has passed away. Awachat was the founder of a de-addiction center called Muktangan Rehabilitation Center in Pune in 1986. He was known for his several Marathi books like “Manasa”, Swatahavishayi, “Gard”, “Karyarat”, “Karyamagna” and “Kutuhalapoti”.
  • In the early 1970s, he edited a popular Marathi journal called Sadhana which featured his trenchant writings on social issues, notably in his reportage of the 1972 drought that ravaged Maharashtra. His many books include ‘Kondmara’ (1985) on Dalit atrocities and ‘Dharmik’ (1989), a penetrating expose on the cult of false godmen in Maharashtra.

3. Noted Kathakali dancer and Padma Shri Recipient Milena Salvini Passes Away

  • Noted Kathakali dancer Milena Salvini of France has passed away. Italian-born Salvini was a regular visitor to India, especially Kerala where she learnt Kathakali, and ran ‘Centre Mandapa’, a school for Indian dance forms, in Paris.
  • The Government of India conferred the Padma Shri award on Salvini in 2019 for her contribution in the field of performing arts.

4. Former Indian Hockey Team Captain Charanjit Singh Passes Away

  • Former Hockey mid-fielder Charanjit Singh has passed away, after suffering a cardiac arrest and prolonged age-related illnesses. He was 90. He was the Captain of the Indian hockey team which won gold in the Tokyo Olympics of 1964.
  • He was also a member of the Indian team which won silver medals in the 1960 Games in Rome, and in the 1962 Asian Games at Jakarta.

5. Educationist/social leader Baba Iqbal Singh Ji passes away

  • Iqbal Singh Kingra, who was an Indian socio-spiritual leader of the Sikh community and an educationalist passed away at the age of 95 years.
  • He was conferred with the Padma Shri in 2022 for his contributions in the field of social work. He established Eternal University in 2008and Akal University, Guru ki Kashi in 2015.

1. Parakram Diwas: Netaji Subhas Chandra Bose 125th Birth Anniversary

  • The Indian government has decided to celebrate January 23rd as ‘Parakram Diwas’ to commemorate the birth anniversary of Netaji Subhas Chandra Bose. This year is the 125th Birth Anniversary of Netaji Subhas Chandra Bose.
  • Netaji was born on January 23, 1897. The day is celebrated to honour and remember Netaji’s indomitable spirit and selfless service to the nation.

2. International Day of Education observed on 24 January

  • The International Day of Education is marked every year on 24 January globally to celebrate the role of education in bringing global peace and sustainable development.
  • The first-ever International Day of Education was celebrated on 24 January 2019 as per the resolution passed by the United Nations General Assembly on December 3rd 2018 to celebrate the role of education in development.
  • The theme of 4th International Day of Education in 2022 is Changing Course, Transforming Education. The celebration is led by the UN Educational, Scientific and Cultural Organization (UNESCO).

3. National Girl Child Day observed on 24 January 2022

  • In India, the National Girl Child Day (NGCD) is observed annually on January 24. The day aims to focus on the inequalities faced by girls, to promote the education, health & nutrition of the girl child, and to spread awareness about the rights of a girl child. The day was observed for the first time in 2008 as an initiative by the Ministry of Women and Child Development and the Government of India.
  • The day was initiated to spread awareness among people about all the inequalities faced by girls in the country. The day promotes awareness about the rights of a girl child and increases awareness on the importance of girl education, health, and nutrition.

4. International Customs Day observed on January 26

  • The International Customs Day (ICD) is observed on 26 January every year. The day is celebrated to recognise the role of customs officials and agencies and focus on the working conditions and challenges that customs officers face in their jobs.
  • This year, the theme chosen by WCO for ICD is ‘Scaling up Customs Digital Transformation by Embracing a Data Culture and Building a Data Ecosystem’.
  • The day was instituted by the World Customs Organization (WCO) to commemorate the day in 1953 when the inaugural session of the Customs Cooperation Council (CCC) was held in Brussels, Belgium. In 1994 the CCC was renamed World Customs Organization (WCO).

5. 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. In 2022, the theme guiding the United Nations Holocaust remembrance and education 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.

6. Data Privacy Day observed on 28 January

  • Data Privacy Day is celebrated on January 28, every year across the world. The objective of the day is to sensitize individuals and disseminate privacy practices and principles. It encourages everyone to own their privacy responsibilities to create a culture of privacy.
  • Observance of the day is “an international effort of creating awareness on the importance of respecting privacy, enabling trust and safeguarding data”. The theme for this year is ‘Privacy Matters’. It instils a sense of accountability that Privacy is integral to every individual’s life.
  • Data privacy has been one of the hot topics of discussion in a digitally connected world. The issue has become pertinent at the time of the coronavirus disease (Covid-19) pandemic when more and more people are forced to spend time in the online world.

7. 74th Martyrs’ Day observed on 30 January 2022

  • Martyr’s Day or Shaheed Diwas is observed every year on January 30 in the memory of Mahatma Gandhi, who was assassinated at Gandhi Smriti in the Birla House by Nathuram Godse in 1948.
  • This year nation observed 74th Martyrs’ Day or Shaheed Diwas. The day is observed to remember the sacrifices made by freedom fighters in the struggle for India’s independence and to pay our respects to them.
  • Notably, Martyrs’ Day is also observed in India on March 23 to pay respect to Bhagat Singh, Shivaram Rajguru and Sukhdev Thapar, who was hanged death on this day in 1931.’

8. World Neglected Tropical Diseases Day observed on 30th January

  • World Neglected Tropical Diseases Day (World NTD Day) is observed on January 30 every year to raise awareness about neglected tropical diseases (NTDs) as a critical public health challenge so that we can progress towards their elimination.
  • 2022 theme is ‘Achieving health equity to end the neglect of poverty-related diseases’. The 2022 slogan is “From neglect to care”.
  • The first World NTD Day was held on 30 January 2020. The proposal to recognise the day was made by the United Arab Emirates (UAE).

9. World Leprosy Day 2022: 30 January

  • World Leprosy Day is observed globally on the last Sunday of January every year. In 2022, the World Leprosy Day falls on January 30, 2022.
  • The day is celebrated to raise global awareness of this deadly ancient disease and call attention to the fact that it can be prevented, treated and cured. In India, World Leprosy Day is celebrated every year on 30 January, the anniversary of Mahatma Gandhi’s death.
  • This year theme of World Leprosy Day 2022 is “United for Dignity”.
  • The day was initiated in 1954 by French philanthropist and writer, Raoul Follereau, as a tribute to the life of Mahatma Gandhi who had compassion for people afflicted with leprosy.

1. Meenakashi Lekhi launches pictorial comic book ‘India’s Women Unsung Heroes’

  • Union Minister of State for Culture, Meenakashi Lekhi has released a pictorial comic book titled ‘India’s Women Unsung Heroes’, as a tribute to the forgotten women freedom fighters of the country.
  • The book has been prepared by the Ministry of Culture in partnership with Amar Chitra Katha, an Indian publisher of Indian comics and graphic novels. India will be celebrating 75 years of independence this August 15.
  • And so, the book celebrates the lives of 75 unsung women freedom fighters of India, including Chakali Ilamma, Padmaja Naidu, Durgabhai Deshmukh, among others.
  • The book is a fitting tribute to the forgotten heroes of our freedom struggle as it celebrates the lives of women who led the charge and lit the flame of rebellion throughout the country. It contains stories of queens who battled imperialism and dedicated their lives for Maa Bharati.

2. A new book titled “The $10 Trillion Dream” author by Subhash Garg

  • The former finance secretary of India, Subhash Chandra Garg has announced his debut book named “The $10 Trillion Dream”. The book is scheduled to hit stands towards the end of February 2022.
  • The new book explores the critical policy issues that India faces today and suggests reforms for it to become a USD 10 trillion economy by the mid-2030s. It is published by Penguin Random House India (PRHI).
  • Garg, a member of the Indian Administrative Service (IAS) for over 36 years, has served in various key positions for both the Union government and the government of Rajasthan. He was designated finance secretary in March 2019.

3. ‘A Little Book of India: Celebrating 75 years of Independence’ authored by Ruskin Bond

  • A new book titled “A Little Book of India: Celebrating 75 years of Independence” authored by Ruskin Bond was released, marking 75 years of India’s Independence. The book is the blend of “physical and spiritual” attributes of India and also highlights the last 75 years of India’s progress as a nation.
  • It is published by Penguin Random House India (PRHI). It is a record of some of my memories and impressions of this unique land — of its rivers and forests, literature and culture, sights, sounds and colours — an amalgamation of the physical and spiritual.

4. A book titled “Fearless Governance” authored by Kiran Bedi

  • The book titled ‘Fearless Governance’ authored by Dr Kiran Bedi has been released. She is the former Lt Governor of Puducherry and IPS (retd).
  • This book is based on the ground realities of nearly five years of service of Dr Bedi as Lt. Governor of Puducherry and her vast experience of 40 years in the Indian Police Service.
  • The author demonstrates the right practises of responsible governance. She brought about team spirit, collaboration, financial prudence, effective policing, bonding in services and decision making through fearless leadership. ‘Fearless Governance’ is a book to read, see, hear and feel for good governance and leadership.

1. Former Japan PM Shinzo Abe given Netaji Award 2022

  • Former Japan Prime Minister Shinzo Abe was conferred with the Netaji Award 2022 by Netaji Research Bureau. Consul General of Japan in Kolkata Nakamura Yutaka received the honour on behalf of Mr. Abe at a function at the Elgin Road residence of Netaji Subhas Chandra Bose on his 125th birth anniversary.
  • Satoshi Suzuki, the Japanese Ambassador to India, addressed the program remotely from New Delhi. Abe is a tremendous admirer of Netaji, according to Sugata Bose, the famed liberation fighter’s grand-nephew and Director of the Netaji Research Bureau. Moreover, in January 2021, India bestowed the Padma Vibhushan on former Japanese Prime Minister Shinzo Abe, the country’s second-highest civilian honour.

2. Youtuber Prajakta Koli become India’s first UNDP Youth Climate Champion

  • Prajakta Koli has become India’s first UN Development Programme (UNDP) Youth Climate Champion. She is a content creator on various online platforms like youtube, Instagram, etc.
  • She has been conferred the title for her contribution towards mental health, women’s rights and girl child education through various global social campaigns.
  • With this title, Prajakta will now have the responsibility to interact with the young generation to raise awareness around climate crisis, global warming and biodiversity loss and their impacts. She is also the global ambassador for YouTube’s ‘Creators For Change’ initiative.

3. Assam government awarded ‘Asom Baibhav Award’ to Ratan Tata

  • The government of Assam has conferred its highest civilian award ‘Assam Baibhav’ on Industrialist Ratan Tata. Assam governor Jagdish Mukhi conferred the award to the former chairman of Tata Sons. The Assam government conferred ‘Asom Baibhav’ to Ratan Tata for his contribution to setting up cancer treatment facilities in the state.
  • Assam Saurav award was conferred on Professor Dipak Chand Jain, Lovlina Borgohain, Professor Kamalendu Deb Krori, Dr Lakshmanan S, and Neel Pawan Baruah.
  • Assam Gaurav award was conferred on Manoj Kumar Basumatary, Munindra Nath Ngatey, Dharanidhar Boro, Hemoprabha Chutia, Dr Basanta Hazarika, Kaushik Baruah, Khorsing Terang, Akash Jyoti Gogoi, Namita Kalita, Dr Asif Iqbal, Kalpana Boro, Boby Hazarika, and Bormita Momin.

4. Olympian Neeraj Chopra honoured with Param Vishisht Seva Medal

  • Olympian Neeraj Chopra will be honoured with Param Vishisht Seva Medal on the eve of Republic Day by President Ram Nath Kovind. He is the first track and field athlete to win a gold medal for India at the Olympics.
  • Neeraj is a Subedar in the Indian Army. He had enrolled in 4 Rajputana Rifles as a direct entry to Naib Subedar in 2016. He was chosen for training at the Mission Olympics Wing and Army Sports Institute in Pune.
  • Chopra was conferred with the Arjuna Award in 2018 and Vishisht Seva Medal (VSM) in 2020 for his excellence in sports.
  • The Haryana state will also showcase the life-size replica of Tokyo Olympic gold medalist Neeraj Chopra in the form of a tableau during the 2022 Republic Day parade.

5. Ministry of Home Affairs Padma Awards 2022 announced

  • The Union ministry of home affairs announced the Padma awards on the eve of the country’s 73rd Republic Day. The Awards are given in three categories: Padma Vibhushan (for exceptional and distinguished service), Padma Bhushan (distinguished service of higher-order) and Padma Shri (distinguished service).
  • The award seeks to recognize achievements in all fields of activities or disciplines where an element of public service is involved. The list comprises 4 Padma Vibhushan, 17 Padma Bhushan and 107 Padma Shri Awards. 34 of the awardees are women and the list also includes 10 persons from the category of Foreigners/NRI/PIO/OCI and 13 Posthumous awardees. In Duo case, the Award is counted as one.

6. Sathyamangalam Tiger Reserve bags TX2 award

  • Sathyamangalam Tiger Reserve (Erode district, Tamil Nadu) has been given the prestigious TX2 award after its tiger numbers doubled to 80 since 2010. Apart from the STR, the Bardia National Park in Nepal has won this year’s TX2 award for doubling the population of wild tigers.
  • Sathyamangalam wildlife sanctuary was declared a tiger reserve in 2013 and the reserve that spread across 1,411.60 sq km is an important link between the Nilgiris and Eastern Ghats landscape.
  • The Nilgiri biosphere landscape that this reserve is part of is currently the home to the largest tiger population in the world. It is connected to other well-established tiger habitats like Mudumalai Tiger Reserve, Bandipur Tiger Reserve and BR Hills Tiger Reserve.
  • The award acknowledges the efforts by the State governments and the local communities which have played one of the most important roles to turn a relatively new tiger reserve into one of the source populations of tigers in India.

1. NITI Aayog & RMI India releases report ‘Banking on Electric Vehicles in India’

  • NITI Aayog has released a report titled ‘Banking on Electric Vehicles in India’ on January 22, 2022, which outlines the need and importance of the inclusion of Electric Vehicles in RBI priority-sector lending guidelines.
  • The report has been developed by NITI Aayog in collaboration with US-based non-profit organisations Rocky Mountain Institute (RMI), and RMI India.
  • The report has indicated electric two-wheelers, three-wheelers, and commercial four-wheelers as early segments to prioritise under Priority Sector Lending. The suggestion has also been made to recognise Electric Vehicles as an infrastructure sub-sector by the Finance Ministry and the incorporation of electric vehicles as a separate reporting category under RBI.

2. Corruption Perceptions Index (CPI) 2021: India ranks 85th

  • 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.

3. Apple retained the title as world’s valuable brand in Brand Finance 2022

  • 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.
  • The Indian conglomerate Tata Group has emerged as the most valuable brand from India and also in South Asia. It is the only brand from the country in the top 100. The Global Rank of Tata Group 78. The brand value of Tata Group is US$23.9 billion.
  • TikTok (18th) has been named the world’s fastest-growing brand in the list. Its brand value increased from US$18.7 billion in 2021 to US$59.0 billion in 2022.
  • Tech remained the most valuable industry in the list in terms of sector. This was followed by Retail, Banking, Media and Telecoms in top 5 respectively.

4. WGC: Global gold demand rises 10% to 4,021 tonnes

  • According to the World Gold Council (WGC) report ‘Gold Demand Trends 2021’ has informed that the global gold demand rose 10 per cent in 2021 to 4,021.3 tonnes. The overall gold demand during 2020, which was impacted following Covid-19 related disruptions, stood at 3,658.8 tonnes.
  • The demand for the yellow metal was mainly driven by Central bank buying during the fourth quarter of 2021, recovery in jewellery consumption, mainly in India and China.
  • India’s gold consumption surged to 797.3 tonnes in 2021, on the back of the recovery in consumer sentiments and pent-up demand post Covid-19-related disruptions and the bullish trend is set to continue this year as well.

5. Maharashtra has highest number of SC entrepreneurs

  • Maharashtra has topped India’s list in the number of micro, small and medium enterprises (MSME) owned by entrepreneurs from the Scheduled Castes with as many as 96,805 enterprises.
  • Tamil Nadu with 42,997 enterprises and Rajasthan with 38,517 units occupy the second and third slots, according to the data furnished by the Office of the Development Commissioner in the Union Ministry of MSME.
  • The fourth, fifth and sixth slots belong to Uttar Pradesh (36,913 units), Karnataka (28,803 enterprises) and Punjab (24,503 units) respectively. Generally, the proportion of enterprises owned by Scheduled Caste entrepreneurs in the overall national tally of MSMEs is 6%.

1. PM Narendra Modi Hosts First India-Central Asia Virtual Summit

  • Prime Minister of India Narendra Modi has hosted the first India-Central Asia Summit, through the virtual platform. It was the first of its kind engagement between India and the Central Asian countries at the level of leaders.
  • The central Asian region has five recognized countries. The Summit was attended by the Presidents of these five Central Asian countries. These are the Republic of Kazakhstan, Kyrgyz Republic (Kyrgyzstan), Republic of Tajikistan, Turkmenistan and Republic of Uzbekistan.
  • The first India-Central Asia Summit coincided with the 30th anniversary of the establishment of diplomatic relations between India and Central Asian countries. During the summit, the Leaders agreed to hold the Summit every 2 years (biennial). The summit is symbolic of the importance attached by the leaders of both sides to a comprehensive and enduring India-Central Asia partnership.

1. ISRO Successfully Tests Vikas engine in Mahendragiri, Tamil Nadu

  • The Indian Space Research Organisation (ISRO) successfully test-fired the Vikas engine that would power India’s first human-carry rocket (Gaganyaan human space mission).
  • This qualification test of the Vikas Engine for the Gaganyaan human space mission was conducted by ISRO at Mahendragiri, Tamil Nadu. More such tests on Vikas Engine will be conducted in the future by ISRO.
  • The test was carried out to verify the robustness of the engine by operating beyond its nominal operating conditions (fuel-oxidiser ratio and chamber pressure). The performance of the engine met the test objectives and the engine parameters were closely matching with the predictions during the entire duration of the test.

1. Air India formally handed over to Tata Group

  • The government of India officially handed over India’s flag carrier, Air India to the Tata Group on January 27, 2022, almost 69 years after acquiring the conglomerate. The total value of the deal is Rs 18,000 crore (US$2.4 billion).
  • The strategic disinvestment transaction of Air India includes the transfer of a 100 per cent stake of GoI in Air India to Tata Sons, along with management control.
  • The transaction covers three entities namely, Air India, Air India Express and Air India SATS (AI SATS). Under the deal, the Tata group will also be handed over Air India Express and a 50 per cent stake in ground handling arm AI SATS.

2. Paytm Money launches “India’s first” intelligent messenger called ‘Pops’

  • Paytm Money has introduced “India’s first” intelligent messenger called ‘Pops’. The company has launched ‘Pops’, with which users can receive specific information related to their stocks, analysis about their portfolio, market news, and important market movements in an easy to consume format, all in one place.
  • The platform will also serve as a marketplace to offer sophisticated stock recommendations, news insights, and other services.
  • Paytm Money is partnering with InvestorAi to offer stock recommendations based on signals generated using artificial intelligence. Now, with Pops on the Paytm Money app, these investors can monitor their portfolios regularly and learn from the market movements with alerts curated for them.

3. Tata Group choose SBI, BoB and HDFC Bank to finance Air India’s old debt

  • Tata Group has chosen State Bank of India, Bank of Baroda and HDFC Bank as preferred bankers for Air India. Recently Tata Group has taken over Air India from the government.
  • Air India is the largest international carrier out of India with an 18.6% market share. Tata Sons have availed of a Rs 10,000-crore loan from SBI and a Rs 5,000-crore loan from BoB. The loan from HDFC Bank is not known yet. The loans are unrated, unsecured, and pegged at 4.25% [interest rate] annually.
  • Tata Sons-promoted Talace has acquired Air India, offering Rs 18,000 crore that include Rs 15,300 crore for the carrier’s existing debt and Rs 2,700 crore cash to be paid to the government. The new debt availed by the Tata Group will be used to refinance Air India’s debt availed at over 10%.
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