Current Affairs for BANK, IBPS Exams - 03 March 2022

::National::

PM Modi to address post-budget webinar on ‘Make in India for the World’

"The objective of the webinar is to sustain the momentum of Union Budget 2022 by synergizing efforts with all stakeholders on various initiatives taken for boosting manufacturing, increasing exports and strengthening the MSMEs," the Union commerce and industry ministry said in a statement.
Prime Minister NarendraModiwill on Thursday address a post-budget webinar on the theme ‘Make in India for the World’, the Union ministry of commerce and industry said on Wednesday. Union commerce and industry minister PiyushGoyal will deliver the concluding remarks at the event.
"By leveraging stakeholders' expertise and experience, an Action Plan for the Industry's way forward and monitoring framework for effective implementation of growth reforms in areas of manufacturing, exports and MSMEs will be finalised," the ministry's statement added.
The webinar will also see a discussion regarding a paradigm shift in manufacturing in the country, realising the trillion-dollar goal in exports and MSMEs as a growth engine for the Indian economy.
Many announcements were made for the MSMEs in this year's budget presented on February 1. These included giving additional credit to 130 MSMEs under the Emergency Credit Linked Guarantee Scheme (ECLGS), the introduction of the Raising and Accelerating MSME Performance (RAMP) scheme and the interlinking of Udyam, e-shram, NCS and ASEEM portals among others.
On Wednesday, Modi addressed a webinar on ‘Technology Enabled Development’, where he said that science and technology were not isolated sectors for the Centre.
"Technology for us is a medium to empower the people of the country. For us, technology is the mainstay of making the country self-reliant. The same vision is reflected in this year's budget as well," Modi said as he pointed out the budget's emphasis on sunrise sectors like artificial intelligence (AI), geo-spatial systems, drones, semiconductors, space technology etc.

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::International::

War crimes court prosecutor opens Ukraine investigation

The International Criminal Court (ICC) prosecutor on Wednesday said he would immediately open an investigation into possible war crimes committed in Ukraine, following requests to do so by an unprecedented number of the court's member states.
Russia's full-scale invasion of Ukraine on Feb. 24 has yet to overthrow the government in Kyiv but thousands of people are believed to have been killed or injured, according to officials in both countries and the United Nations.
"Active investigations formally commence in Ukraine upon receipt of referrals by 39 state parties", prosecutor Karim Khan tweeted.
The referrals by member states fast-track an investigation as it allows the prosecutor to skip having to seek approval of the court in The Hague, shaving months off the process. The prosecutor had already said on Monday that he would seek court approval into allegations of war crimes in Ukraine.
The prosecutor's office would start collecting evidence for "any past and present allegations of war crimes, crimes against humanity or genocide committed on any part of the territory of Ukraine by any person", Khan said in a statement.
In December 2020 the prosecutor's office announced it had reason to believe war crimes and other crimes were committed during the conflict in eastern Ukraine, but a request for a full investigation was not filed.
Russia is not a member of the ICC and rejects its jurisdiction.
The court can investigate allegations of war crimes and crimes against humanity committed on Ukraine territory regardless of the nationality of the suspected perpetrators.

::Economy::

RBI cancels licence of Sarjeraodada Naik Shirala Sahakari Bank, Sangli

The RBI cancelled the licence of Sarjeraodada Naik Shirala Sahakari Bank, Sangli, Maharashtra, as it did not have adequate capital and earning prospects.
With cancellation of the licence, Sarjeraodada Naik Shirala Sahakari Bank Ltd has ceased to carry on banking business with effect from the close of business hours on Wednesday, the Reserve Bank said in a statement.
The Commissioner for Cooperation and Registrar of Cooperative Societies, Maharashtra has also been requested to issue an order for winding up the bank and appoint a liquidator for the lender, it said.
On liquidation, every depositor would be entitled to receive deposit insurance claim amount of his/her deposits up to a monetary ceiling of Rs 5 lakh from the Deposit Insurance and Credit Guarantee Corporation (DICGC).
"As per the data submitted by the bank, more than 99 per cent of the depositors are entitled to receive full amount of their deposits from DICGC," the RBI added.
Giving details about the licence cancellation, the RBI said Sarjeraodada Naik Shirala Sahakari Bank does not have adequate capital and earning prospects, and with its present financial position would be unable to pay its present depositors in full.
"Public interest would be adversely affected if the bank is allowed to carry on its banking business any further," it said.

State Bank of India's exposure to Russia, Ukraine less than $10 mn

State Bank of India’s (SBI’s) exposure to Russia, which is facing sanctions following invasion of Ukraine, is less than $10 million. Banks will get 10 days to complete the processing of payments already in the system to avoid near-term problems for businesses and trade.
While getting clarity for the entire system exposure remains a work in progress, the bank (SBI) has small transaction exposure (less than $10 million), said senior bank executive. Following sanctions imposed on the transactions with Russian entities, the Reserve Bank of India (RBI) moved in to find a way for stuck payments. It is collecting information from all banks on the nature of exposure. Based on feedback, the banking regulator will come out with an action plan, said senior bankers.
According to news agency Reuters, the European Union is excluding seven Russian banks from the Society for Worldwide Interbank Financial Telecommunication (SWIFT) messaging system that underpins global transactions as part of its sanctions over Russia’s invasion of Ukraine.
The banks will be given 10 days to wind-down their SWIFT operations. Generally, payments in the pipeline are exempt from sanctions, but no new one can be put into the system. Such relaxation was given when strict measures were imposed on Iran as well, said a senior public sector bank (PSB) executive.

::Science and tech::

Tons of space junk likely to punch hole up to 20-metre hole in Moon

The leftover rocket will smash into the far side of the moon at 5,800 mph (9,300 kph), away from telescopes’ prying eyes. It may take weeks, even months, to confirm the impact through satellite images.
It's been tumbling haphazardly through space, experts believe, since China launched it nearly a decade ago. But Chinese officials are dubious it's theirs.
No matter whose it is, scientists expect the object to carve out a hole 33 feet to 66 feet (10 to 20 meters) across and send moon dust flying hundreds of miles (kilometers) across the barren, pockmarked surface.
Low-orbiting space junk is relatively easy to track. Objects launching deeper into space are unlikely to hit anything and these far-flung pieces are usually soon forgotten, except by a handful of observers who enjoy playing celestial detective on the side.
SpaceX originally took the rap for the upcoming lunar litter after asteroid tracker Bill Gray identified the collision course in January. He corrected himself a month later, saying the “mystery” object was not a SpaceX Falcon rocket upper stage from the 2015 launch of a deep space climate observatory for NASA.
Gray said it was likely the third stage of a Chinese rocket that sent a test sample capsule to the moon and back in 2014. But Chinese ministry officials said the upper stage had reentered Earth’s atmosphere and burned up.
But there were two Chinese missions with similar designations — the test flight and 2020′s lunar sample return mission — and U.S. observers believe the two are getting mixed up.

::Sport::

Sreeshankar, Paul set early standards in Indian athletics

MuraliSreeshankar was keen to test himself early in the new season, especially after a disappointing Tokyo Olympics. Three weeks back, he also fractured his hand in training, though that did not stop him from competing at the Indian Open Jumps Competition in Thiruvananthapuram.
He took off the cast for his jumps, and impressed in the season opener by recording three 8m-plus jumps, the best of 8.17m off the last attempt ensuring victory. MuhammedAnees Yahiya pushed him all the way, taking the lead with his last jump of 8.15m, a personal best.
The national record holder (8.26m) though is not used to taking second place at home, and was spurred on with his fellow Kerala jumper Anees too joining in cheering him from the sidelines. Sreeshankar produced the winning leap before breaking into a grin and hugging his main rival.
“I knew he would jump over 8m, but 8.15m was a surprise. We were cheering for each other. It was a really good competition,” said Sreeshankar.
Both Sreeshankar and Anees cleared the Asian Games qualifying distance set by the Athletics Federation of India. Their performances though will not be counted for the qualifying mark as there was no wind gauge, which is a must as only attempts with a tailwind of 2m/sec or less is legal.