Why in news?

• Bharat Dynamics Limited (BDL) and Indian Army on Wednesday signed a three-year contract of Rs 3,131.82 crore for manufacture and supply of anti-tank guided missile Konkurs-M to the Indian Army.
• BDL has augmented its manufacturing capacity to meet the domestic as well as overseas demand for Konkurs-M. BDL also exports the missile to friendly countries. As a part of its global outreach, the company also offers portable anti-tank guided missiles Nag, Milan-2T and Amogha.

About Konkurs-M

• Konkurs-M is a second-generation, mechanised infantry anti-tank guided missile, to destroy armoured vehicles.
• The missile can be launched either from BMP-II tank or from ground launcher.
• It covers a range between 75 and 4,000 metre with a flight time of 19 seconds.

Why in news?

• Strengthening its support for sports in India, the Union Government has approved continuation of Scheme of Assistance to National Sports Federations (NSFs) with an outlay of Rs. 1575 crore for 15^th Finance Commission Cycle (2021-22 to 2025-26).

About the scheme

• The Scheme of Assistance to NSFs is the flagship Central Sector Scheme.
• It is the main source of funding for preparation of national teams for all major national and international competitions, including the Olympic Games, Para-Olympics, Asian Games, Para Asian Games, Commonwealth Games (CWG) and other major international tournaments.
• The outlay in the cycle will therefore be extended to NSFs to train and field national teams for national and international competitions between 2022 and 2026, prime among them, the Commonwealth and Asian Games of 2022, Olympics and Paralympics 2024 and Asian and Commonwealth Games in 2026.
• The financial support extended by the Ministry of Youth Affairs and Sports through this Scheme will be used by NSFs to conduct national coaching camps, procure sports equipment and consumables, provide training of international standards to athletes, conduct data analysis on the performance of athletes, provide sports science support, provide recovery and rehabilitation to athletes with injury, engage foreign coaches and high performance directors, as well as to set up a professional administrative system within the NSFs.
• The scheme also sets out to improve the bench strength of Indian athletes through a strong talent identification and development system so as to achieve sporting excellence and drive India towards becoming a sporting power house.

Why in news?

• The Government has decided to continue the scheme of ‘Khelo India – National Programme for Development of Sports’over the 15th Finance Commission Cycle — 2021-22 to 2025-26 — at an outlay of Rs 3165.50 crore.
• Khelo India Scheme Allocation increases by 48 per centin Budget 2022 and includes it in the Prime Minister’s Award Scheme.”

About the Khelo India Scheme:

• It is a flagship Central Sector Scheme of the Sports ministry which aims to develop grassroots level talent by providing them with a national level platform.
• Khelo India Scheme is based on Gujarat’s model of “Khel Mahakumbh” in which schools and colleges from across the country participate in 27 different disciplines.
• It has been formed after the merger ofRajiv Gandhi Khel Abhiyan (RGKA), Urban Sports Infrastructure Scheme (USIS) and National Sports Talent Search Scheme (NSTSS).
• This programme strives to promote “Sports for All” as well as “Sports for Excellence.”

Why in news?   

• As per SBI Chairman Dinesh Kumar Khara,National Asset Reconstruction Company Ltd (NARCL) or bad bank and India Debt Resolution Company Ltd (IDRCL) are ready to commence operations.
• A total of 38 Non-Performing Asset(NPA) accounts worth Rs 82,845 crore have been identified to be transferred to NARCL initially.
• In Phase I, 15 stressed assets (i.e. Non-Performing Asset accounts) worth Rs 50,000 crore will be transferred to NARCL in the current financial year.

About NARCL AND IDRCL

• The National Asset Reconstruction Company Ltd or NARCL is the name of the asset reconstruction company incorporated to take over and dispose of the stressed assets of commercial banks.
• Stressed assets of commercial banks worth Rs 2 lakh crore have been identified to be taken up in the first phase by the NARCL.
• NARCL will be starting with a total capital of Rs 6,000 crore.
• In October 2021, NARCL received the RBI’s license to enable it to commence operations as a ‘bad bank’.
• Public Sector Banks (PSBs) have a 51% ownership of NARCL.
• Banks will aggregate and consolidate stressed assets with NARCL for resolution.
• NARCL’s Managing Director is PM Nair, a stressed assets expert from the State Bank of India (SBI).
• NARCL will acquire fully provisioned stressed assets by making an offer to the lead bank in a consortium of lenders; once the offer is accepted, NARCL will engage with India Debt Resolution Company Ltd. (IDRCL) for management and resolution of the stressed assets.
• IDRCL is an operational entity/service company that would manage the assets and engage professionals and turnaround experts in the process.
• PSBs and public FIs would hold a maximum of 49% stake in IDRCL while the remaining 51% will be vested with private lenders.
• Stressed assets acquired by NARCL will be managed by IDRCL for price discovery and value addition.

Why in News?

• Olympics gold medal winner Neeraj Chopra was nominated for the prestigious Laureus World Breakthrough of the Year award, making him the first Indian to be featured in the short-list for this category.
• At the Tokyo Olympics, the 23-year-old Neeraj Chopra became only the second Indian to win an individual gold medal in the Games’ history.
• The javelin thrower was clubbed alongside tennis stars Daniil Medvedev and Emma Raducanu among others.
• Neeraj Chopra is only the third Indian to fetch a Laureus nomination after cricket legend Sachin Tendulkar and wrestler Vinesh Phogat

About The Laureus World Sports Awards

• The Laureus World Sports Awards is an annual award ceremony honouring individuals and teams from the world of sports along with sporting achievements throughout the year.
• It was established in 1999 by Laureus Sport for Good Foundation founding patrons Daimler and Richemont.

Why In News

• The Ministry of Social Justice and Empowerment has formulated a scheme “SMILE – Support for Marginalized Individuals for Livelihood and Enterprise”, which includes sub scheme -‘Comprehensive Rehabilitation for Welfare of Transgender Persons’.
• The focus of the sub-sch eme is on rehabilitation, provision of medical facilities and intervention, counseling, education, skill development, economic linkages to the transgender persons.
• Ministry has also initiated 12 pilot shelter homes namely Garima Greh: Shelter Home for Transgender Persons and provided financial assistance to community-based organizations (CBOs) for setting up of these shelter homes.
• These pilot shelter homes are in States of Maharashtra, Gujarat, Delhi, West Bengal, Rajasthan, Chhattisgarh, Tamil Nadu, Odisha and also including Bihar.
• The main aim of Garima Greh is to provide shelter to transgender persons with basic amenities like food, medical care and recreational facilities.

Why in news?

• Chie f Electoral Officer’s office of Punjabunveiled its election mascot, “Shera” (Lion).
• It aims to increase voter awareness, participation and promote ethical voting in the Punjab Assembly polls that is scheduled on 20 February 2022.
• The mascot “Shera”, depicts a lion. It represents the rich cultural heritage of Punjab.
• It is promoted under the Systematic Voters Education and Electoral Participation (SVEEP)project of the Election Commission of India (ECI).
• SVEEP project was started in 2009, as the flagship program of the ECI for voter education.

Why in news?

• The three days long Torgya Festivalof the Monpa tribal community of Arunachal Pradesh is celebrated at Tawang Monastery, Arunachal Pradesh. 
• The main attraction of the festival is the ‘Sha-na Cham’,the ritual dance performed by monks to showcase the Choe-G yal Yap & Yum Tsa-Munde deity.
• This year is the ‘Dungyur Torgya’ festival, which marks a special occasion as every 3rd year, the festival is organized on a broader level with the name Dungyur Festival during which Dalai Lama offers blessings (also known as Tse-Boom) to other lamas by sending Feb Jum which is a holy item to be used in rituals.

Why in news?

• The Prime Minister of Portugal, Antonio Costohas been re-elected after his centre-left Socialist Party secured a landslide victory in the 2022 Portuguese legislative election.

About Portugal

• Portugal, is a country whose mainland is located on the Iberian Peninsula, in Southwestern Europe, and whose territory also includes the Atlantic archipelagos of the Azores and Madeira. It features the westernmost poi nt in mainland Europe, and its Iberian portion is bordered to the west and south by the Atlantic Ocean and to the north and east by Spain, the sole country to have a land border with Portugal. Its two archipelagos form two autonomous regions with their own regional governments.
• The official and national language is Portuguese.
• Lisbon is the capitaland largest city.
• Portugal President: Marcelo Rebelo de Sousa;
• Portugal Currency: Euro.

Why in news?

• North East Centre for Technology Application and Reach (NECTAR) under Saffron Bowl project has identified few locations in Arunachal Pradesh and Meghalaya for saffron cultivation.
• In Arunachal Pradesh, there is a good growth of organic saffron with flowers. In Meghalaya, sample plantations were grown at Cherrapunji, Mawsmai and Lalingtop sites.
• The following sites have been identified in Meghalaya under the Saffron Bowl project: Barapani, Cherrapunji, Mawsmai, Shillong, and Lalingtop.

About NECTAR

• NECTAR is an autonomous society, set up under the Department of Science & Technology, Government of India, with its headquarters at Shillong, Meghalaya.
• With this, the government is looking at harnessing and leveraging niche frontier technologies available with central scientific departments and institutions.
• The aim is to be the leading Centre to foster, nurture and ensure the delivery, sustenance, and use of technology applications for public and social good; and to reach and expand the benefits of technology among people, communities, institutions, and governments for equitable and inclusive social and economic development of the Northeastern Region of the country.

About Saffron

• Saffron is a plant whose dried stigmas (thread-like parts of the flower) are used to make saffron spice.
• Saffron cultivation is believed to have been introduced in Kashmir by Central Asian immigrantsaround the 1st Century BCE.
• It has been associated with traditional Kashmiri cuisine and represents the rich cultural heritage of the region.
• In ancient Sanskrit literature, saffron is referred to as ‘bahukam’.
• It is presently cultivated and harvested in the Karewa (highlands) of Jammu and Kashmir.
• Pampore region,commonly known as Saffron bowl of Kashmir, is the main contributor to saffron production.
• Pampore Saffron Heritage of Kashmiris one of the Globally Important Agricultural Heritage systems (GIAHS) recognised sites in India