 Deposit Insurance and Credit Guarantee Corporation (DICGC) increases the insurance coverage for depositors in all insured banks from Rs 1 lakh to 5 lakh with effect from February 4, 2020, with the approval of Government of India. The rate of premium payable by the insured banks will be raised from 10 paise per Rs 100 of assessable deposits to 12 paise per Rs100 of assessable deposits per annum. This step is taken with a view to providing a greater measure of protection to depositors in banks the Deposit Insurance and Credit Guarantee Corporation, a wholly-owned subsidiary of the Reserve Bank of India. Thus in terms of Section 16 (1) of Deposit Insurance and Credit Guarantee Corporation Act 1961, the limit of the total amount payable by the Corporation to any one depositor in respect of his/her deposits with an insured bank in the same right and capacity shall be 75 lakh. |
 Indian Oil has picked up a minority equity stake in Israel’s battery developer Phinergy to jointly set up a facility in India to manufacture metal-air batteries for electric vehicles. This collaboration helps in the field of Al-Air battery system including research & development, customization, manufacturing, assembly, sale and service of aluminium-air energy systems technology. Phinergy specialises in aluminium-air (Al-Air) and zinc-air battery systems that have potential applications in electric mobility and stationary applications. The preference for this technology is also because aluminium is abundantly available in India and its extraction and recycling technologies are also well established. |
 Eastern Railways has partnered with Amazon India to set up a pick-up kiosk at the Sealdah railway station in Kolkata, West Bengal. This follows after the successful pilot of pickup kiosks in four railway stations across Mumbai in 2019. Customers can select this point as a pickup location on the checkout page of their order while shopping on the marketplace. A kiosk is a small open-fronted hut or cubicle from where newspapers, refreshments, tickets, etc will be sold. |
 Reliance General Insurance Company Limited has launched a comprehensive health insurance plan named “Reliance Health Infinity”. The policy offers 90 days pre and 180 days post hospitalization cover, along with sum insured ranging from Rs 3 lakh to Rs 1 crore, and free restore benefits. This Insurance offers three main benefits under its Health Infinity plan: ‘more cover’, where the policyholder will get additional sum insured, along with ‘more time’, where the policyholder will get covered for additional period, and ‘more global’ wherein the policyholder will be insured not only in India but also globally for emergency hospitalization. This insurance plan also offers Ayush benefit, wherein all the expenses incurred are covered on treatment in a hospital under Ayurveda, Unani, Sidha and Homeopathy. |
 India hosted the Ministerial-level Defence dialogue between India and South Korea in New Delhi. The Ministerial-level Defence dialogue aimed to deepen bilateral defence cooperation between the two countries. South Korean industries are also encouraged to invest in Indian Defence corridors by establishing their manufacturing units in India by reaping benefits from the economical and skilled labour force, natural resources and tailored incentives. During the dialogue, both the countries also intended to leverage mutual strengths in digital applications as well as other advanced technologies. South Korea Defence Minister Jeong Kyeong-doo and India Defence Minister Rajnath Singh participated in the Ministerial-level Defence dialogue between India and South Korea. Chief of Defence Staff General Bipin Rawat, Army Chief General Manoj Naravane and Navy Chief Admiral Karambir Singh were among the other participants of the dialogue. |
 World Wetlands Day is annually celebrated globally on 2nd of February. The day aims to raise the awareness about the crucial role played by wetlands for people and our planet. The theme of World Wetlands Day 2020 is “Wetlands and Biodiversity”. |
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 Renowned Odia revolutionary poet and freedom fighter Rabi Singh passed away. He was popularly known as ‘Biplabi Kabi’ (the revolutionary poet) for his patriotic writings. Rabi Singh was awarded Atibadi Jagannath Das Samman by Odisha Sahitya Akademi in 2017 for his contribution to Odia literature. |
 Eminent Punjabi writer and Sahitya Akademi Awardee Jaswant Singh Kanwal passed away. In 1996, he was bestowed the Sahitya Akademi Fellowship award for his book ‘Pakhi’ (Hand Fan) and two years later in 1998, he received the Sahitya Akademi award for his novel ‘Taushali Di Hanso’. Kanwal also received the Sahitya Shiromani Award of the Punjab government in 2007 and the following year, Guru Nanak Dev University, Amritsar, conferred on Kanwal the degree of Doctor of Literature (Honoris Causa) for his contribution to Punjabi literature. |
 Think Tanks and Civil Societies Program (TTCSP) of the Lauder Institute at the University of Pennsylvania has released the 2019 Global Go To Think Tank Index Report. India’s Observer Research Foundation (ORF) has been ranked at 27th position among 176 global think tanks (U.S. and non-U.S.). It was ranked at 118th position in the 2018 Global Go To Think Tank Index Report. |
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 The National Anti-Doping Agency (NADA) has suspended weightlifter Ramshad AR for a period of 2 years after being found guilty of violating the anti-doping rule. He was examined by the Doping Control Officer of NADA during the 71st Men’s National Weightlifting Championship. In addition to this, NADA has also banned Indian wrestler Ravinder Kumar for 4 years for failing a dope test. |
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