Current Affairs for BANK, IBPS Exams - 09 February 2021

::NATIONAL::

The Rajya Sabha cleared The Jammu and Kashmir Reorganisation (Amendment) Bill, 2021 that seeks to replace the ordinance to merge the Jammu and Kashmir (J&K) cadre of civil services officer with the Arunachal Pradesh, Goa, Mizoram Union Territory (AGMUT) cadre.
The bill was introduced in the Upper House of the Parliament last week.
Minister of State for Home Affairs G Kishan Reddy said the Constitution of India is now fully applicable on Jammu and Kashmir, and that the bill will enable availability of officers in Jammu and Kashmir who have experience of running union territory administration.
He said the bill will increase the strength of officers in the union territories of Jammu and Kashmir and Leh.

Bihar chief minister Nitish Kumar expanded his Cabinet on Tuesday ahead of the Budget session with the induction of 17 new ministers. This takes the total number of ministers in the state Cabinet to 30, with six more berths remaining vacant.
Governor Phagu Chouhan administered the oath of office to the new ministers – nine from the BJP and eight from the JD(U) – at a function at the Raj Bhavan.
Former Union minister and national spokesperson of the BJP Shahnawaz Hussain, who was recently elected to the legislative council, was the first to take oath. He was followed by JD(U)’s Shravan Kumar and Madan Sahni.
Apart from the chief minister, others gracing the occasion included deputy CMs Tar Kishore Prasad and Renu Devi, Speaker Vijay Kumar Sinha, legislative council chairman Avadhesh Narayan Singh, and Rajya Sabha member Sushil Kumar Modi. Leader of the Opposition Tejaswhi Prasad Yadav could not make it as he is reportedly in Delhi.
What is significant about the expansion is that several new faces, especially from the BJP, have found their way in the Cabinet. Leaders like Prem Kumar and Nand Kishore Yadav, who were part of all previous NDA governments, have not found a place this time, while Sushil Kumar Modi has been sent to the Rajya Sabha. From the last Cabinet, BJP has retained only two ministers this time – Mangal Pandey and Pramod Kumar. On the other hand, JD(U) has retained several old guards.

China released new anti-monopoly guidelines on Sunday that target internet platforms, a move tightening the existing restrictions faced by the country’s top tech companies. The new rules formalise an earlier anti-monopoly draft law released in November, and clarify a series of monopolistic practices that regulators can crack down on.
The rules, issued by the market regulator, bar companies from a range of behaviour, including forcing merchants to choose between the country’s top internet players, a long-time practice in the market. The latest guidelines would “stop monopolistic behaviours in the platform economy and protect fair competition in the market.” The notice also said it will stop companies from price fixing, restricting technologies and using data and algorithms to manipulate the market.
State media reported, the Anti-Monopoly Committee of the State Council encourages operators in the platform economy to report their monopolistic practices. Experts say, the guidelines are expected to put new pressure on the country’s leading internet services platforms, including e-commerce sites such as Alibaba Group’s Taobao and Tmall marketplaces or JD.com. They will also cover payment services like Ant Group’s Alipay or Tencent Holding’s WeChat Pay.

Total income, however, fell to ₹6,556.98 crore in October-December period of 2020-21 as against ₹7,278.29 crore in same period of 2019-20, the bank said in a regulatory filing.
State-owned Central Bank of India on Tuesday reported a 6.5% rise in its net profit to ₹165.41 crore in the third quarter ended December.
The bank had posted a net profit of ₹155.32 crore in the corresponding year-ago period.
Total income, however, fell to ₹6,556.98 crore in October-December period of 2020-21 as against ₹7,278.29 crore in same period of 2019-20, the bank said in a regulatory filing.
Interest income for the quarter under review was down to ₹5,782.61 crore from ₹6,028.88 crore in the year-ago quarter.
The bank's asset quality improved with gross non-performing assets(NPAs) falling to 16.30% of the gross advances as of December 31, 2020, from 19.99% by end of December 2019.
In value terms, gross NPAs or bad loans stood at ₹29,486.07 crore as against ₹33,259.59 crore.

Reddit Inc, which has been at the heart of a recent social media-driven retail trading frenzy, said on Monday it raised more than $250 million in a new round of funding that has doubled its valuation to $6 billion.
The social media company's Chief Executive Officer, Steve Huffman, told the Wall Street Journal (WSJ) that it is a good market to raise funds.
"Valuations are very high right now. It never hurts to raise money when there's an opportunity to do so and Reddit had a strong year," Huffman was quoted as saying by the WSJ.
Reddit said in a blog post that advertising revenue increased 90% in the last quarter from a year earlier.

A spacecraft from the United Arab Emirates was set to swing into orbit around Mars in the Arab world’s first interplanetary mission Tuesday, the first of three robotic explorers arriving at the red planet over the next week and a half.
The orbiter, called Amal, Arabic for Hope, traveled 300 million miles in nearly seven months to get to Mars with the goal of mapping its atmosphere throughout each season.
A combination orbiter and lander from China is close behind, scheduled to reach the planet on Wednesday. It will circle Mars until the rover separates and attempts to land on the surface in May to look for signs of ancient life.
A rover from the U.S. named Perseverance is set to join the crowd next week, aiming for a landing Feb. 18. It will be the first leg in a decade-long U.S.-European project to bring Mars rocks back to Earth to be examined for evidence the planet once harbored microscopic life.
If it pulls this off, China will become only the second country to land successfully on Mars. The U.S. has done it eight times, the first almost 45 years ago. A NASA rover and lander are still working on the surface.

Brushing aside the hype, the 17-year-old Alcaraz made quick work of his first-round opponent at the Australian Open, defeating Dutch qualifier Botic Van de Zandschulp 6-1, 6-4, 6-4 for his maiden win at a major.
Carlos Alcaraz had not even played a Grand Slam match when Toni Nadal, the uncle and longtime coach of Rafael Nadal, anointed him the successor of his illustrious nephew.
Brushing aside the hype, the 17-year-old Alcaraz made quick work of his first-round opponent at the Australian Open on Tuesday, defeating Dutch qualifier Botic Van de Zandschulp 6-1, 6-4, 6-4 for his maiden win at a major.