Current Affairs for BANK, IBPS Exams - 21 February 2022

::National::

Kerala govt seeks powers for states to remove Governor

Amid a rift with Kerala Governor Arif Mohammad Khan, the state government has put forward recommendation before the Centre seeking powers for the states to remove the Governor “in case of a violation of the Constitution, lapses in the duty of the Chancellor or in taking criminal prosecution procedures”.
The state submitted this recommendation to the central government-appointed Punchhi commission, set up to look into measures to improve the centre-state relations. The Union government had constituted the commission in 2007, under the former Chief Justice of India Justice Madan Mohan Punchhi (Retd.). The commission made 273 recommendations in 2010, and later sought the opinion of states. These recommendations have been updated from time to time.
State law secretary V. Hari Nair formulated these recommendations, which were accepted by the cabinet on Wednesday.
“If the Governor is sabotaging the interest of the state and working against the elected government there should be provisions to recall him,” the state government said in the recommendation letter, a copy of which is with HT.
The latest initiative assumes significance in the light of the tussle between the Governor and the PinarayiVijayan-led government.
Last week, Governor Khan had refused to sign the annual policy document but relented later after his two suggestions were met by the government.
General administration principal secretary K R Jyotilal, who had sent a “blunt” letter to the Governor on behalf of the government on Thursday was transferred to the public works department. The government also agreed to look into the practice of shuffling of the personal staff of ministers after every two years. Khan had termed it “loot” and sought all files regarding such appointments.

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::International::

Biden, Putin agree ‘in principle’ to Ukraine summit on condition of no invasion

US President Joe Biden and Russian President Vladimir Putin have agreed “in principle” to a summit over Ukraine, as long as that country holds off on what U.S. officials believe is an imminent assault on Ukraine, the White House has confirmed.
In a statement, White House press secretary Jen Psaki said: “We are always ready for diplomacy. We are also ready to impose swift and severe consequences should Russia instead choose war. And currently, Russia appears to be continuing preparations for a full-scale assault on Ukraine very soon.”
The announcement was first made by the office of French President Emmanuel Macron, who assisted in brokering the potential talks between the two leaders. The Elysee Palace stated that Macron had pitched both leaders on a summit over "security and strategic stability in Europe."
"Presidents Biden and Putin have both accepted the principle of such a summit," the statement said, before adding that such a meeting would be impossible if Russia invaded Ukraine as Western nations fear it plans to.
Nerves were further frayed after the Belarusian defence ministry announced that Russia would extend military drills in Belarus that were due to end on Sunday. Satellite images appeared to show new deployments of Russian armor and troops close to Ukraine.
The White House said Biden was canceling a trip to Delaware and remaining in Washington following a two-hour meeting of his National Security Council.

::Economy::

Rupee spurts by 40 paise to over two-week high against US dollar

The rupee spurted by 40 paise, its biggest single-day gain in over three months, to settle at a more than two-week high of 74.66 against the US dollar on Friday on hopes of a diplomatic solution to the East-West standoff over Ukraine.
A fall in crude oil prices also supported the local currency, analysts said.
At the interbank forex market, the local unit opened at 75.03 against the greenback and witnessed an intra-day high of 74.60 and a low of 75.05.
The rupee settled at 74.66, registering a rise of 40 paise or 0.53 per cent over its previous close of 75.06. The rupee had closed the session on Thursday at 75.11 (provisionally) but later settled at 75.06.
The proposed US-Russia talks spurred optimism about the volatile geopolitical situation in Ukraine, said DilipParmar, Research Analyst, HDFC Securities.
"Rupee recouped previous week and most of the current month losses amid long unwinding in dollar, lower crude oil prices and expectation of dollar inflows from LIC IPO," Parmar said, adding that foreign fund outflows and risk-averse sentiments could limit the gains in the rupee.
"Markets heaved further sigh of relief as Russia said they were withdrawing more tanks, hardware from near Ukraine, this morning.
"Any diplomatic break-through during the coming week will help the USDINR pair strengthen further towards 74.25/73.80 levels. A reversal towards 75.76 will now be seen only above 75.40 levels," according to Emkay Global Financial Services.
On the domestic equity market front, the BSE Sensex ended 59.04 points or 0.10 per cent lower at 57,832.97, while the broader NSE Nifty fell 28.30 points or 0.16 per cent to 17,276.30.
Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, advanced 0.05 per cent to 95.84.

::Sport::

'2022 an opportunity to check how ready I'm to win gold in Paris Olympics'

LovlinaBorgohain etched her name in the history books when she became the first from Assam, and the second female in India after Mary Kom, to win an Olympic medal in boxing. The 24-year-old returned with bronze from Tokyo 2020, a remarkable achievement indeed, but it certainly is not good for Lovlina, who aspires to better it to gold in Paris 2024.
Following her success in Tokyo, which was also her maiden appearance at the Games, it took no time for the country to celebrate her landmark achievement. Apart from the much-deserved cash rewards, a street was named after her in Guwahati. The accolades didn't end there, she was also offered the post of deputy superintendent with Assam Police and was honoured with the prestigious Major Dhyan Chand KhelRatna Award.