12th February 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

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Here is the Daily GK Update of 12th February 2021 covering the following news headlines: Samarpan Diwas, India Toy Fair 2021, Meghalaya, Aegon Life, Financial Literacy Week, New Development Bank.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about the banking terms, current affairs news, etc. So, here is the GK update of 12th February 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. Centre Launches Official Website of India Toy Fair 2021

The Government of India will organise the first-ever ‘The India Toy Fair, 2021′ from February 27, 2021, to March 02, 2021, on a virtual platform. The official website for India Toy Fair-2021 is www.theindiatoyfair.in. This initiative is in line with the Prime Minister’s vision of making India a global hub for the Toy Industry.
The website and online registration were inaugurated on February 11, 2021, jointly by the Union Education Minister, Dr Ramesh Pokhriyal ‘Nishank’, Union Minister of Textiles, Smt. Smriti Zubin Irani and Union Minister of Commerce and Industry, Shri Piyush Goyal.

State News

2. Meghalaya police inks MoU with SBI for e-Challan

12th February 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_5.1

A memorandum of understanding (MoU) was signed between the Meghalaya police and the State Bank of India for implementation of the e-Challan within the jurisdiction of the Shillong Traffic Police (STP).
The e-Challan system which will be launched in the days to come is a digital traffic enforcement solution whereby, imposing penalties on violators of traffic rules and generating of challan will be done digitally.
The system has been integrated with VAHAN & SARATHI applications and this will enable the Traffic Officials to fetch the details of the traffic violator such as vehicle and driver’s details through these applications, thereby, reducing the time taken to issue challan.
The payment for traffic violations can be transacted on the spot through cash payment or through instant card payments by swiping at Point of Sale (POS) machine available with the Traffic Officials; options are also available for the traffic violator to make payments at the Traffic Branches by producing the issued e-Challan at the respective Traffic Units.

Important takeaways for all competitive exams:

Meghalaya Capital: Shillong.
Meghalaya Governor: Satya Pal Malik.
Meghalaya Chief minister: Conrad Sangma.

Appointments News

3. Satishwar Balakrishnan appointed as Aegon Life’s MD & CEO

12th February 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_6.1

Aegon Life Insurance, India’s first digital-only life insurance company, elevated Satishwar Balakrishnan to be the Managing Director & Chief Executive Officer. Prior to joining Aegon Life, he has worked with IndiaFirst Life, Reliance Life and ICICI Prudential Life. He is a Chartered Accountant by qualification.
Satishwar, who joined the company in July 2019 as Chief Financial Officer, will spearhead Aegon Life’s transformation into a digital-only life insurance company.

Important takeaways for all competitive exams:

Aegon Life Insurance is headquartered in Mumbai.
Aegon Life Insurance Founded in 2008.

Banking News

4. RBI Organises Financial Literacy Week from February 8-12

The Reserve Bank of India (RBI) has launched the Financial Literacy Week (FLW) from February 8-12, 2021, to propagate financial education. RBI conducts Financial Literacy Week (FLW) every year since 2016 to propagate financial education messages on a particular theme every year across the country, through a focused campaign.
The theme for 2021 FLW is ”Credit Discipline and Credit from Formal Institutions”.
Banks have been advised to disseminate the information and create awareness among its customers and the general public. Further, RBI will undertake a centralized mass media campaign during the month of February 2021 to broadcast essential financial awareness messages to the general public.

Important takeaways for all competitive exams:

RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

5. RBI releases Annual Report of Ombudsman Schemes for 2019-20

Reserve Bank of India (RBI) has released the Annual Report of the Ombudsman Schemes for the year 2019-20. There was an increase of around 65 per cent in the receipt of complaints out of which almost 92 per cent have been disposed of.
RBI has three Ombudsman- Banking, Non-Banking Finance Company (i.e. NBFC) and digital transactions. A common man can approach this Ombudsman for their grievances.
The Banking Ombudsman received major complaints regarding ATM & Debit Cards, Mobile & Electronic Banking.
NBFC’s Ombudsman received most complaints about non-observance of regulatory guidelines, lack of transparency in contract/ loan agreement and levy of charges without notice.
Digital Transactions Ombudsmen received most complaints about fund transfer. RBI has taken various measures for creating awareness among various stakeholders to minimise the grievances.
As announced in the Monetary Policy Statement last week, the three Ombudsman Schemes are being merged and integrated into a single scheme which will be rolled out starting from June this year.

Business News

6. New Development Bank Commits $100 million in NIIF Fund of Funds

The New Development Bank (NDB) has committed to invest USD 100 million (Rs 727.6 crore), into the National Investment and Infrastructure Fund Limited (NIIF) Fund of Funds (FoF).
With NDB’s investment, the total commitments secured by the FoF has reached $800 million (about Rs 5,820 crore). This investment marks NDB’s first equity investment into India and its first-ever investment into a Fund of Funds.
Currently, the Government of India (GoI), Asian Infrastructure Investment Bank (AIIB) and Asian Development Bank (ADB) are the investor in the FoF. Now NDB has joined the group. The FoF was established in 2018 with the objective of providing homegrown Indian private equity fund managers access to an India-focused institutional investor that operates at scale.

Important takeaways for all competitive exams:

NIIFL Managing Director & Chief Executive Officer (CEO): Sujoy Bose.
NIIFL Headquarters: Mumbai, Maharashtra.
New Development Bank Chairperson of the Board of Governors: Anton Siluanov (Russia).
New Development Bank Headquarters: Shanghai, China.

Awards News

7. Manasa Varanasi crowned VLCC Femina Miss India World 2020

Telangana-based Manasa Varanasi has been crowned as the winner of VLCC Femina Miss India World 2020. Manasa Varanasi was crowned by the winner of Miss India 2019, Suman Ratan Singh Rao from Rajasthan.
The 23-year-old will now represent India at the 70th Miss World pageant in December 2021. Born in Hyderabad, Manasa Varanasi is an engineer by profession and works as a financial information exchange analyst.

Other winners:

Manika Sheokand of Haryana: Miss Grand India 2020
Manya Singh of Uttar Pradesh: Miss India 2020 runner-up

8. “Koozhangal” Wins Tiger Award at Rotterdam International Film Festival 2021

The Tamil film “Koozhangal” has won “Tiger” award, at the 50th edition of the International Film Festival Rotterdam 2021. The Tiger award is the top honour of the festival, given for best film. Koozhangal (meaning Pebbles) has been Produced by Nayanthara and directed by Vinod Raj PS.
This is the second Indian film to win this international award and the first Tamil Film. The first Indian film was “Durga” directed by the Malayalam director Shashidharan. The Tiger Award worth Euro 40,000 cash prize, is shared between the director and producer of the winning film.

Defence News

9. Indian Navy undertaking exercise “TROPEX” in Indian Ocean Region

The Indian Navy is carrying out a mega war game involving almost all operational assets like warships, submarines and aircraft over a vast geographical expanse in the Indian Ocean Region to test the force’s combat readiness in a complex multi-dimensional scenario.
The biennial ‘Theatre Level Operational Readiness Exercise (TROPEX)’ aims to validate the Navy’s offensive as well as defence capabilities and safeguard national interests in the maritime domain besides promoting peace and stability in the Indian Ocean.
The exercise is being conducted over a vast geographical expanse in the Indian Ocean Region including its adjunct waters and is aimed at testing combat readiness of the Navy in a complex multi-dimensional scenario set in the context of the current geostrategic environment.

Books and Authors News

10. Jual Oram launches book on economic awareness in India

Chairperson of the Standing Committee on Defence and MP Jual Oram has launched ‘Turn Around India: 2020- Surmounting Past Legacy’, a book on creating economic awareness among masses. The book is authored by RP Gupta.
‘Turn Around India: 2020’ is an intimate narrative of Gupta’s experiences and how he attained success through sheer hard work and determination.
The book provides a practical and viable option for reviving Indian economy for creating new jobs and enlarging public income and also, the structural reforms such as fiscal and monetary stimuli for overcoming economic crisis arising due to pandemic.
The book talks about the economic history of India enabling to identify the strengths and weakness and take corrective actions.

Miscellaneous News

11. Samarpan Diwas: Deen Dayal Upadhyay Death Anniversary

12th February 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_14.1

Prime Minister Narendra Modi pays floral tribute to former Bharatiya Jana Sangh leader Pandit Deendayal Upadhyaya on his 53rd death anniversary as part of ‘Samarpan Diwas’, in New Delhi on Feb. 11, 2021.
Deendayal Upadhyaya was an Indian politician and thinker of right-wing Hindutva ideology espoused by the Rashtriya Swayamsevak Sangh, and leader of the political party Bharatiya Jana Sangh, the forerunner of Bharatiya Janata Party.

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