Current Affairs for BANK, IBPS Exams - 12 March 2022

::National::

Farmer protesting over Chhattisgarh new capital land acquisition dies

A 68-year-old farmer, part of a protest by people affected by land acquisition for the new capital city of Chhattisgarh, died near the agitation site, officials said.
Officials said that the exact cause of the death of farmer, who was identified as Siyaram Patel is yet to be ascertained and investigation is going on.
“Village-wise counters were prepared to accept the applications from the farmers... The counters were operational from 11am on Friday and during this process, Patel fainted and fell down. Patel was rushed to the hospital where he was declared dead,” said collector Raipur Saurabh Kumar, in a statement. The body has been sent for autopsy.
“Patel’s son Heeralal Patel that he was a patient of high blood pressure and was taking medication for it,” said the official.
Farmers of 27 villages in Raipur district’s Nava Raipur Atal Nagar have been agitating under the banner of NayiRajdhaniPriyojnaPrabhavitKisanKalyanSamiti (NRPPKKS) since January to seek better rehabilitation and compensation.
The protesting farmers have demanded adequate compensation to the kin of the deceased from the administration.
“Patel had been actively taking part in the protest for the last two months. It is unfortunate that he passed away. We pray that his soul rests in peace. We all farmers are with his family in this difficult time,” Girdhar Patel, spokesperson of NRPPKKS said in a statement.
The government earlier constituted a cabinet sub-committee to consider the demand of the protesters. This panel accepted six of the eight demands last month, a government official said.

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::International::

NATO to begin training of troops close to Russia border in Norway

Troops of the North Atlantic Treaty Organisation (NATO) and its partners will begin a training exercise in Norway. Aimed at coming to the rescue of one of its own, the NATO exercise will be held a few hundred kilometres away from the borders of Russia that has expanded its offensive in Ukraine and is currently closing in on its capital Kyiv.
On Friday, US President Joe Biden said he would defend NATO to the point of World War III, but he would not risk touching off a wider conflict by fighting Russia in Ukraine and ruled out establishing a no-fly zone.
While NATO’s training programme was planned long before Moscow's invasion of Ukraine that is now its third week leading to massive bloodshed and destruction, it now has added significance because of the war.
"This exercise is extremely important for the security of Norway and its allies. We will practice an allied reinforcement of Norway", Norwegian Defence Minister Odd Roger Enoksen told news agency AFP.
Some 30,000 troops, 200 aircraft and 50 vessels from 27 nations will take part in the Cold Response 2022 exercise, the largest exercise involving NATO troops this year.
The guardian of NATO's northern border in Europe, Norway is keen to test how it would manage Allied reinforcements on its soil, in line with Article 5 of NATO's charter, which requires member states to come to the aid of another member state under attack.
Neighbouring Sweden and Finland, which are officially military non-aligned but increasingly close partners of NATO, will also participate in Cold Response, which will conclude on April 1.
Meanwhile, Russia has declined an invitation to send observers to the exercise. "Any build-up of NATO military capabilities near Russia's borders does not help to strengthen security in the region," said the Russian embassy in Norway.

::Economy::

India's forex reserves rise by $394 million to $631.92 billion

The country's foreign exchange reserves increased by USD 394 million to USD 631.92 billion in the week ended March 4, the RBI data showed.
In the previous week ended February 25, the reserves had declined by USD 1.425 billion to USD 631.527 billion. It touched a lifetime high of USD 642.453 billion in the week ended September 3, 2021.
During the reporting week, the gain in the reserves was due to a rise in the foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed.
FCA increased by USD 634 million to USD 565.466 billion in the week ended March 4.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Gold reserves declined by USD 147 million to USD 42.32 billion in the reporting week, according to the data.
The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 59 million to USD 18.981 billion, the RBI said.
The country's reserve position with the IMF decreased by USD 34 million to USD 5.153 billion in the reporting week, the data showed.

Rupee pares initial gains, settles 18 paise lower at 76.61 against dollar

The rupee pared its initial gains and settled 18 paise lower at 76.61 (provisional) against the US currency on Friday amid dollar demand from oil importers and state-run power companies.
Persistent foreign fund outflows and geopolitical worries sapped risk appetite in the market, pushing investors towards safe-haven assets.
At the interbank foreign exchange market, the rupee opened weak at 76.34 against the American dollar and fell further during the session as investors moved away from riskier assets.
The domestic unit oscillated between a high of 76.27 and a low of 76.72 during the session.
The rupee finally settled at 76.61 against the dollar, down 18 paise from the previous close.
On Thursday, the rupee had appreciated by 19 paise to close at 76.43.
"Rupee snapped gains amid dollar demand from oil importers and state-run power companies. Dollar strengthening against major currencies following stronger US economic data also weighed on the local unit," said DilipParmar, Research Analyst, HDFC Securities.
Parmar further added that risk appetite remained shaky with trading conditions still choppy and volatile, the focus will remain on geopolitical news and crude oil prices.
"India's January industrial production number could reflect the recovery in output as COVID-19 related restrictions were withdrawn. However, surging commodity prices could be reflected in upcoming data of inflation and output," Parmar said.
Meanwhile, the US dollar index, which measures the greenback's strength against the basket of six currencies, rose 0.25 per cent to 98.74.

::Science and tech::

Union Power Minister launched Virtual Smart Grid Knowledge Center

Union Minister for Power R.K. Singh launched the Virtual Smart Grid Knowledge Center (SGKC) and Innovation Park virtually as part of Azadi ka Amrit Mahotsav Programme.
Minister of State for Power Krishan Pal Gurjar was also present on the occasion. The SGKC has been established by POWERGRID for demonstration and advancement of frontier smart grid technologies.SGKC aims to be one of the leading Centers of Excellence globally to foster innovation, entrepreneurship and research in smart grid technologies and create capacities in the power distribution sector.
The Virtual SGKC that was launched today enables a digital footprint of the physical setup of SGKC, the need for which was felt during COVID-19 pandemic.
At the event, Mr. R K Singh pointed out that the world is changing in a rapid phase in the energy sector, which has also been witnessed in India. He said that India is way ahead in the energy transition and the rate of implementation of Renewable energy capacity in the country is faster as compared to any other countries around the world.

::Sport::

UEFA opens disciplinary case against PSG chief Al-Khelaifi

UEFA opened disciplinary proceedings against Paris Saint-Germain President Nasser Al-Khelaifi over heated incidents after the team's Champions League loss at Real Madrid.
The Qatari is also a member of UEFA's executive committee, chairman of the influential European Club Association and head of Doha-based broadcaster beIN Media Group a key Champions League TV rights holder.
The disciplinary case, which also includes sporting director Leonardo, followed reports that Al-Khelaifi went in search of the match officials to protest refereeing decisions on Wednesday night.