Current Affairs for BANK, IBPS Exams - 23 February 2022

::National::

Center extends National Means-cum-Merit Scholarship Scheme (NMMSS) till 2025-26

The Centre has approved the continuation of the Central Sector National Means-cum-Merit Scholarship Scheme (NMMSS) over the 15th Finance Commission cycle for a period of five years from 2021-22 to 2025-26.
It has been approved with a financial outlay of one thousand 827 crore rupees with minor modifications in eligibility criteria such as increasing income ceiling from 1.5 lakh rupees per annum to 3.5 lakh rupees per annum and revising the renewal criteria under the scheme.
Ministry of Education in a statement said that it is proposed to disburse scholarships to 14.76 lakh students. The objective of the scheme is to award scholarships to meritorious students of economically weaker sections to arrest their drop-out at class 8th and encourage them to continue their education at the secondary stage.
The Ministry said, one lakh fresh scholarships of 12 thousand rupees per student are awarded to the selected students of class 9th every year and their continuation or renewal in classes 10th to 12th for study in State Government, Government-aided and Local body schools under the scheme. Students are selected for award of scholarships through an examination conducted by the State and Union Territory Governments.

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::International::

Citigroup asks US employees to return to office from March 21

Citigroup Inc has asked vaccinated employees in all US locations to start returning to the office from the week of March 21, according to an internal memo that was seen by Reuters.
Staff will be working from the office for at least two days a week, the memo said. Bank employees in the New York Tri-State area have already started coming to the office from Feb. 7.
"Although COVID-19 may never fully go away, we are seeing promising developments," Citi's head of human resources Sara Wechter said in the memo.
The bank's move highlights a growing inclination among employers and politicians to treat the virus as part of everyday life. Earlier this month, officials in several states including New York, New Jersey and California eased mask mandates.
Wall Street banks and investment firms have been more proactive than other sectors in requiring that employees return to offices.
Citigroup said in January unvaccinated staff would be placed on unpaid leave and fired at the end of the month unless they were granted an exemption. As of January-end, about 99% of the bank's U.S. employees had complied with the vaccine mandate.

::Economy::

Google allows Bay Area employees to work from office, eases Covid-19 norms

Alphabet Inc's Google said it is giving employees in the Bay Area the option to return to office where possible, as Covid-19 cases ease in the United States.
"We’re giving employees who welcome the chance to come into the office the option to do that wherever we safely can, while allowing those who aren’t ready to keep working from home," the company's spokesperson said in a statement.
Those who enter Google's work sites will be required to be fully vaccinated or have an approved accommodation, the company said, adding that wearing masks will be required in its Santa Clara County offices.
Google also said it is lifting its temporary weekly Covid-19 testing policy for those accessing its offices in the United States that was implemented in January.
The company will also be restoring and increasing the availability of amenities at its offices such as fitness centers, massage services and cafes.

US stocks tumble as Biden announces new Russia sanctions

Wall Street stocks fell sharply after US President Joe Biden announced new sanctions on Russia following its latest escalations in the Ukraine crisis.
Biden, in a White House address, said the penalties on Russia would go "far beyond" existing sanctions and include moves to cut the country off from Western financing by targeting Moscow's sovereign debt.
The Dow Jones Industrial Average finished down 1.4 percent, or about 480 points, at 33,596.61.
The broad-based S&P 500 dropped 1.0 percent to 4,304.76, while the tech-rich Nasdaq Composite Index slid 1.2 percent to 13,381.52.
On Monday, Russian President Vladimir Putin defied Western warnings and approved sending troops into eastern Ukraine to support two rebel regions' independence claims.
The move prompted significant new sanctions outside of Washington, with Germany halting certification of a key natural gas pipeline.
A note from Oanda's Edward Moya described the Ukraine situation as a threat to markets because of the risk energy costs will "skyrocket," noting that fears of war in eastern Europe have already caused a market pullback.
Besides Ukraine, markets are also fixated on rising consumer prices, which has prompted a sharp pivot in the Federal Reserve's monetary policy pronouncements.
A survey from the Conference Board showed a modest dip in consumer sentiment in February compared with the prior month.
Among companies releasing earnings, Home Depot shares slumped 8.9 percent even after reporting better-than-expected results and raising its dividend by 15 percent.

::Science and tech::

PM Modi inaugurates 'Kisan Drone Yatra' and flagged off 100 'Kisan Drones'

Prime Minister NarendraModi launched a special drive. He flagged off 100 Kisan drones to spray pesticides across various states of India. Talking about the application of drones, PM Modi said; "Earlier drones were considered only as a weapon of army or defence forces but today in Manesar, we are inaugurating 'Kisan Drone Yatra.'
This is a new chapter in the technological development of farmers." PM Modi claimed that the 'Kisan Drone Yatra' will open various opportunities in the technological field. He said, "This is a new chapter in the direction of modern agricultural facilities of the 21st century.
I am confident that this beginning will not only prove to be a milestone in the development of the drone sector but also will also open the sky to unlimited possibilities."
PM Modi also elaborated on future plans for the usage of drones in India. He shared that Garuda Aerospace is in the process of making 100 thousand made in India drones. He said, "Garud drones have an aim of making 1 lakh in coming two years made in India drones, which will provide new employment to the youth".
Union Minister of Finance and Corporate Affairs NirmalaSitharaman talked vividly about drones and their in-corporation in the agricultural sector in the recently concluded first half of the Budget session. She said, " By bringing in drones, we are able to bring in efficiencies in the use of fertilisers, pesticides and also make a good technology-driven assessment of the crop density and also possibly predicting the size of the output. Bringing in drones as an instrument or as a very effective tool for improving and modernising India's agriculture. When you bring in a drone, it has got several adaptations"

::Sport::

Alexander Zverev kicked-out from Acapulco after angry outburst on umpire

Alexander Zverev was thrown out of the ongoing ATP 500 tournament in Acapulco, Mexico for his uncalled behaviour with chair umpire. The incident took place after Zverev's double match, in which he partnered Brazilian tennis player Marcelo Melo against the British-Finn pair of Lloyd Glasspool and HarriHeliovaara.
"Due to unsportsmanlike conduct at the conclusion of his doubles match on Tuesday night, Alexander Zverev has been withdrawn from the tournament in Acapulco," the ATP said in a statement.
Zverev was upset with the official over a line call, which took place earlier in the match. He also hurled expletives at Germani.