Current Affairs

28 February, 2021


Omega Seiki to Set up EV Manufacturing Facility in Bangladesh with Investment of Rs 100 Crore

i.Omega Seiki Pvt Ltd has announced that it will set up an Electric Vehicle(EV) manufacturing facility, known as OSM-Bangladesh near Dhaka in Bangladesh with investment of Rs 100 crore.
ii.This will be the 1st project of any Indian EV company in international markets. The EV manufacturing company will be registered in Bangladesh.
iii.The vehicles of Omega Seiki will be powered by Li-Ion batteries and with powertrains built in Bangladesh, with technology transfer from India.
About Omega Seiki Private Limited:
It is a member of the Anglian Omega Network.
Managing Director– Deb Mukherji, PhD
Headquarters– New Delhi, Delhi


IWAI Signs MoU with MOL (Asia Oceania) Pte. Ltd to Transport LPG Through Inland Waterways

i.The Inland Waterways Authority of India(IWAI) signed a Memorandum of Understanding(MoU) with MOL (Asia Oceania) Pte. Ltd to transport Liquified Natural Gas(LPG) through barges on National Waterways-1 and National Waterways-2.
ii.The MoU was signed in presence of Mansukh Mandaviya, Union Minister of State (MoS) (Independent Charge) of Ports, Shipping and Waterways.
About MOL (Asia Oceania) Pte. Ltd:
Managing Director– Koichi Yashima(Senior Managing Executive Officer responsible for Asia, the Middle East and Oceania Area)
Headquarters– Singapore
About Inland Waterways Authority of India(IWAI):
It is under Ministry of Ports, Shipping, Waterways
Chairperson– DR. Amita Prasad, IAS
Head Office– Noida, Uttar Pradesh

Durga Shanker Mishra Launched City Innovation Exchange (CiX) to Foster Innovation in Urban Ecosystem

i.Durga Shanker Mishra, Secretary, Ministry of Housing and Urban Affairs(MoHUA) launched the City Innovation Exchange (CiX) platform at an online event.
ii.The platform through an ‘open innovation’ process engages with innovators across the national ecosystem to design innovative solutions for the pressing challenges of the cities.
Aim: To foster innovative practices in cities by adopting solutions that increase the quality of life for its residents and significantly improve the Ease of Doing Business.
About Ministry of Housing and Urban Affairs(MoHUA):
Minister of State (Independent Charge) – Hardeep Singh Puri (Constituency – Uttar Pradesh)
Headquarter – New Delhi, Delhi.

Chenab Bridge – World’s Highest Rail Bridge to completed by 2021

The works on ‘Chenab Bridge’ which is set to be the World’s Highest Rail Bridge are expected to be completed by the end of 2021. The bridge is 1.315 Kms long with 17 spans and is being constructed at a height of 359 metres (1, 178 feet) over the River Chenab which is 35 metres higher than the Eiffel Tower in Paris, France.

About Konkan Railway Corporation Limited (KRCL):
Chairman & Managing Director (CMD)– Sanjay Gupta
Headquarters – Navi Mumbai, Maharashtra


Exim Bank to Support Construction of Social Housing Units in Maldives Through USD 130 Million Funding

Export-Import Bank of India (India Exim Bank) is set to support the construction of social housing units in Maldives, through its USD 130 million loan to Fahi Dhiriulhan Corporation Limited. The funding is set to be provided through the credit programme of the buyer under the National Export Insurance Account (NEIA Scheme).
The project is proposed to be executed by the NBCC (India) limited (formerly National Buildings Construction Corporation Limited).
About Export-Import Bank of India (India Exim Bank) :
Managing Director– David Rasquinha
Headquarters– Mumbai, Maharashtra
Established in 1982

IRDAI Issues Guidelines on Standard Personal Accident Insurance Product

i.The Insurance Regulatory and Development Authority of India (IRDAI) issued guidelines on Standard Personal Accident Insurance Product named ‘Saral Suraksha Bima’, succeeded by name of insurance company under the provisions of Section 34 (1) (a) of Insurance Act, 1938.
ii.IRDAI has directed all the general and Health Insurers to offer this product from April 1, 2021. The product can be offered as a group product also.
iii.The policy tenure of the standard product will be for a period of one year.
iv.Under the product, the minimum sum insured will be Rs.2.5 lakhs and maximum sum insured will be Rs.1 Crore.
About Insurance Regulatory and Development Authority of India (IRDAI):
Chairman – Subhash Chandra(C.) Khuntia
Headquarters – Hyderabad, Telangana


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HDFC Bank & Kotak Mahindra Bank to Pick up 9.99% Stake Each in Ferbine Pvt Ltd

i.The HDFC bank and Kotak Mahindra Bank acquired 9.99% stakes each in Ferbine Private Limited, a company promoted by Tata Sons, which plans to apply to the Reserve Bank of India to set up a Pan India Umbrella entity(PUE) for retail payments.
ii.HDFC bank has executed an agreement to subscribe 4995 equity shares each of face value Rs.10 each fully paid up issued by Ferbine for a consideration of Rs.10 per equity share.
iii.Ferbine Private Limited was incorporated on 18th January 2021 to make an application to RBI for the PUE license.
About HDFC Bank:
MD & CEO– Sashidhar Jagdishan
Headquarters– Mumbai, Maharashtra
Tagline– We Understand your World
About Kotak Mahindra Bank:
MD & CEO– U Kotak
Headquarters– Mumbai, Maharashtra
Tagline– Let’s Make Money Simple, Ab Kona Kona Kotak

Biden Administration Named Anjali Bharadwaj, Indian Social Activist, Among 12 People For International Anti-corruption Champions Award

The State Department under the Biden Administration has named Anjali Bharadwaj, 48-year-old Indian Activist working on issues of transparency and accountability among the 12 individuals for the new International Anti-corruption Champions Award. She was an active member of the Right to information movement in India for around 20 years. The International Anti-corruption Champions Award was launched by Secretary of State Antony J. Blinken. The award recognises the individuals who have demonstrated leadership, courage, and impact in preventing, exposing, and combating corruption.

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