Current Affairs for BANK, IBPS Exams - 12 February 2022

Current Affairs for BANK, IBPS Exams - 11 February 2022

::National::

Madras HC directs TN govt to furnish copy of inquiry report to ex-VC

Chennai The Madras high court on Friday directed the Tamil Nadu government to furnish a copy of Justice A K Kalaiarasan’s inquiry report to M K Surappa, former vice-chancellor of the premier technical varsity, Anna University.
Disposing of a writ petition from Surappa, the court directed the state higher education department, which by an order dated November 11, 2020 constituted the Commission to go into the allegations levelled against the former VC, to furnish a copy of the report dated June 28, 2021 along with the enclosures to him within 15 days.
“It is very strange that the government, for no valid reason, has come up with a rigid stand against furnishing of a report to the petitioner, unmindful of its legal implication that any decision taken at the end of the day would certainly become too vulnerable to judicial interference. The view of the government is antithetical to the concept of reasonableness and fairness in action as embedded in Article 14 of the Constitution,” Justice V Parthiban said.
The court also observed that the requirement to comply with the fundamental principles of natural justice, namely that no one should be condemned unheard, is not optional. In the absence of specific provision, the principle must be read into every statute and regulations as held by the courts. It is very strange that the government, for no valid reason, has come up with a rigid stand against furnishing the report to the petitioner, unmindful of its legal implication that any decision taken at the end of the day would certainly become too vulnerable to judicial interference.”As a matter of fact, this Court does not see any rationale as to why the government is shying away from furnishing a copy of the report to the petitioner when in every departmental disciplinary proceedings, the procedure towards furnishing of inquiry report is being followed scrupulously, fearing judicial intervention.

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::International::

Anti-mandate protests in Canada: Emergency declared in Ontario

A state of emergency has been declared in the Canadian province of Ontario due to the ongoing truckers’ strike, which has now completed two weeks.
That decision was announced by Ontario Premier Doug Ford on Friday morning. He tweeted, “Today, I am using my authority as Premier of Ontario to declare a state of emergency in our province. We must come together as Canadians. We must heal the divide that is fracturing our society. To the protesters: It’s time to end these occupations and go home.”
The ongoing truckers’ strike in Canada has evolved into a source of political and global embarrassment for Prime Minister Justin Trudeau, his government has reached out to Washington to try and resolve the situation.
While the siege of the Canadian capital of Ottawa continues, blockades have also developed in several provinces including Alberta, Manitoba, and most significantly at a major crossing in Ontario, which handles nearly a quarter of trucked trade between Canada and the United States.
In a statement issued by the prime minister’s office on Thursday night said that ministers and officials have been “in close contact with representatives and officials from the United States of America to align efforts to resolve this situation”.
Trudeau had a series of meetings on the strike, including one with leaders of opposition parties. The principal opposition Conservative Party has also asked protest organisers to “to take down the barricades, stop the disruptive action, and come together”.

::Economy::

N Chandrasekaran gets second term at Tata Sons

N Chandrasekaran was reappointment as the chairman of Tata Sons - the holding company of the salt-to-software Tata Group - for a second five-year term.
His reappointment was backed by Ratan Tata, chairman of Tata Trusts, the majority owners of Tata Sons.
Tata Sons board met on Friday to review the last five years and consider the reappointment of its Executive Chairman N Chandrasekaran, it said in a statement.
"Ratan. N. Tata who was a special invitee to this meeting expressed his satisfaction on the progress and performance of the Tata Group under the leadership of Chandrasekaran. He recommended his term be renewed for a further five-year period," it said.
The Board commended the performance of the Executive Chairman and "unanimously approved the reappointment of Chandrasekaran as the Executive Chairman for the next five years."
Chandrasekaran, 58, said, "It has been a privilege to lead the Tata Group for the last five years and I am delighted at the opportunity to lead the Tata Group for another five years, in its next phase."
A large part of Chandra's tenure was spent fighting the legal battle with Mistry.
He joined the Tata Sons board in October 2016, was designated chairman in January 2017 and took official charge in February 2017. He also chairs the boards of operating companies such as Tata Steel, Tata Motors, Tata Power and TCS.
Continuity in leadership will give investors and stakeholders confidence in the 154-year-old conglomerate that makes salt to luxury sedans. The group is working on an all-in-one e-commerce super-app -- one of Chandra's key projects -- to market its swathe of consumer products and services as part of a digital makeover.

Inflation under control thanks to carefully measured stimulus: Sitharaman

India’s carefully measured stimulus packages helped keep inflation under control while accelerating economic growth in stark contrast to huge demand-side largesse in some of the advanced economies around the world that escalated prices of essential commodities, finance minister NirmalaSitharaman said on Friday. She was citing the examples of the US and Germany.
Replying questions on inflation during the Budget discussion in the RajyaSabha, Sitharaman said, “US inflation, reported in all papers today, is highest in 40 years. US inflation... cash transfers were made, huge stimulus packages were given… this is the effect,” she said while displaying a copy of the news in the House. Germany is also facing high inflation, which they haven’t faced since 1992, she added.
The US labour department said on Thursday that the consumer price index (CPI) climbed 7.5% during the 12 months till January, its largest increase since February 1982 as costs spiked for a wide range of items. HT reported it quoting AFP on Friday.
Linking the inflation challenges faced by the advanced economies to huge direct demand stimulus that eventually caused more hardships to the poor, Sitharaman said there are countries that spent big money to revive their economies after the devastating impact of the Covid-19 pandemic, but India took a careful approach taking into account both lives and livelihood.
According to the Reserve Bank of India(RBI), the country’s inflation projection is well within the tolerance limit. The RBI on Thursday retained inflation projection for 2021-22 at 5.3%, with Q4 at 5.7% on account of unfavourable base effects.
“Taking all these factors into consideration and on the assumption of a normal monsoon, CPI inflation for 2022-23 is projected at 4.5% with Q1:2022-23 at 4.9%; Q2 at 5%; Q3 at 4%; and Q4 at 4.2%, with risks broadly balanced,” RBI governor Shaktikanta Das said after meeting of the monetary policy committee. The official prescribed limit for CPI inflation is 4%, plus/minus 2%.

::Sport::

Newly-appointed women’s wrestling coach eyes rich haul at Asian Games

"I am targeting medals in each category this time. We have plenty of excellent wrestlers, who could realise this dream,” national coach JitendraYadav said on the first day of his maiden stint with national campers in Lucknow.
In the last 20-odd years of women’s freestyle wrestling at the Asian Games, India have won six medals, including the only gold by VineshPhogat at the 2018 edition of the event at Jakarta. The year also witnessed young DivyaKakran winning a bronze medal in the 68 kg category.
Much before this double delight, GeetikaJakhar and AlkaTomar won a silver and a bronze medal at the 2006 Games at Doha. This was followed by Phogat and Jakhar claiming a bronze medal each at the 2014 Incheon Games.
These six medals, including the only gold at the 2018 Asian Games, sum up India’s performance at the quadrennial event. Newly appointed women’s national coach, JitendraYadav, is aiming for medals in all six categories at this year’s Asian Games at Hangzhou, Zhejiang in China.