CURRENT AFFAIRS 25 FEB 2022   1.     Indian Railways and BHEL | AAA-Bright Academy

 CURRENT AFFAIRS 25 FEB 2022
 
1.     Indian Railways and BHEL Joins to Create India’s First Railway Solar Power Plant
 
·        Indian Railways along Bharat Heavy Electricals Limited (BHEL), has Successfully commissioned India’s first Solar Photovoltaic Plant of 1.7-MegaWatt (MW) at Bina, Madhya Pradesh. The plant is under extensive testing and will be in operation for Indian Railways.
 
·        The construction of a solar plant by Indian Railways is a step to fulfil its self-sufficient energy needs by ‘Atmanirbhar Bharat’.
 
 
·        The installation of the solar plants is to achieve conversion of Indian Railways to ‘Net Zero’ Carbon Emission and ‘Go Green’ by 2030.It also Aim to reduce 2,160 tonnes of carbon dioxide emission every year.
 
2.     EAM S.Jaishankar’s visit to Germany and France
 
·        External Affairs Minister (EAM) S Jaishankar paid a 6-day visit to Germany and France in February
 
·        India and France have committed to promoting cooperation between the European Union (EU) and India on the blue economy and ocean governance, in the framework of the common roadmap “EU-India Strategic Partnership: A Roadmap to 2025” and the EU strategy for cooperation in the Indo-Pacific
 
·        S Jaishankar met with Ireland Foreign Minister Simon Coveney during the 58th Munich Security Conference (MSC) 2022, which was held in Munich, Germany

3.     Hurun India Wealth Report 2021
 
·        According to Hurun India Wealth Report 2021, the number of dollar-millionaire households in India increased by 11% to 4,58,000 households compared to 2020.
 
·        According to Hurun Indian Luxury Consumer Survey 2021, 36% of Indian millionaires use e-wallets or UPI as their preferred payment method as compared to the 18% last year.
 
 
·        According to the report, the number of Indian dollar millionaire households is estimated to increase by 30% over the next five years and the number will reach upto 6,00,000 households by 2026. 
 
·        Maharashtra’s  Mumbai became India’s millionaire capital, with 20,300 millionaires households. It is followed by Delhi and Kolkata with 17,400 and 10,500 millionaire households, respectively. 
·        Taj Hotel is  most preferred hospitality brand, followed by Oberoi and Leela
 
·        Rolex- is the most preferred luxury watch brand, followed by Cartier and Audemars Piguet.

4.     RBI Directed NBFCs to Implement CFSS by September 2025
 
·        Reserve Bank of India (RBI) directed certain Non-Banking Financial Companies (NBFCs)  to mandatorily implement ‘Core Financial Services Solution (CFSS)’ by 30th September 2025.
 
·        In October 2021, RBI introduced the ‘Scale Based Regulation’ (SBR) framework for NBFCs and mandated NBFCs with 10 and more branches to adopt Core Banking Solution with effect from October 01, 2022.
 
·        As per the framework, currently RBI has directed the NBFCs – Middle Layer and NBFCs – Upper Layer with 10 and more ‘fixed point service delivery units’ as on 1st October 2022 to implement CFSS (similar to the Core Banking Solution (CBS) adopted by banks) on or before September 30, 2025.
 
 
·        Special Timeline for NBFC-Upper Layer: NBFC – Upper Layer should implement CFSS at least in 70 percent of ‘fixed point service delivery units’ on or before September 30, 2024.
 
·        The implementation of CFSS is not mandatory in NBFC – Base Layer and NBFC – Middle and Upper Layers with fewer than 10 fixed point service delivery units.
 
 
·        RBI Establishment – 1st April 1935,Headquarters – Mumbai,Governor – Shaktikanta Das
 
·        Deputy Governors – T. Rabi Sankar, M. Rajeshwar Rao, Dr. M. D. Patra, M. K. Jain
 
5.     Moody’s Rises India’s GDP Forecast to 9.5% for 2022
 
·        Moody’s Investors Service raised India’s Gross Domestic Product (GDP) growth forecast to 8.4 percent for FY23 (1st April 2022 – 31st March 2023) and 9.5 percent for 2022