Current Affairs Daily Archives

Current Affairs – 2 & 3 April 2023

April 3, 2023 by QUIZWAY

MoF Increases Interest Rates on Most Small Savings Schemes, Except PPF, for Q1 FY24The Department of Economic Affairs (DEA), Ministry of Finance (MoF) has announced an interest rate hike on various Small Savings Schemes for the first quarter (Q1) of the fiscal year 2023-24 (FY24), beginning April 1, 2023, and ending June 30, 2023, marking the third consecutive quarter of rate hikes.

Small Savings Schemes have about 40 crore subscribers, and the basket includes 12 instruments such as the National Savings Certificate (NSC), Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Sukanya Samridihi Account (SSA), Monthly Income Savings Scheme, all post office time deposits, etc.,
The interest rate on these savings instruments has been raised by 10-70 basis points (bps) [one percentage point is equivalent to 100 bps].

However, the interest rate for PPF scheme has been kept unchanged at 7.1% over this period, and its returns have remained constant at 7.1% for the last three years.
Key Information
i.The GoI reviews the interest rates for small savings plans on a quarterly basis.
ii.Although the Reserve Bank of India (RBI) sets small savings interest rates, they are linked to market yields on government securities (G-secs) with a lag and are reviewed and fixed quarterly at a spread of 0-100 basis points (bps) over (100 bps = 1%) and above G-sec yields of comparable maturities.
About Ministry of Finance (MoF):
Union Minister – Nirmala Sitharaman (RajyaSabha- Karnataka)
Ministers of State (MoS) – Pankaj Chaudhary; Dr. Bhagwat Kishanrao Karad

Women aged between 15-29 years spend 5.5 hours more than men doing Unpaid Labour: MoSPIi.The Ministry of Statistics and Programme Implementation (MoSPI) released its report titled ‘Women and Men in India 2022’ which is 24th in series. As per it, an average Indian woman, aged between 15 and 29 spends 5.5 hours doing unpaid labour. A man in that age group spends about 50 minutes a day doing work that yields no money.
ii.A senior woman (aged above 60) too spends four hours a day doing unpaid labour, while a senior man spends an hour and a half on the same.
iii.This report is on the lines of Oxfam report from December 2021, which noted that the unpaid work done by women looking after their homes and children is worth 3.1% of India’s GDP.
iv.The only area of unpaid work where men spend more time than women is in volunteering and training, where they spend an extra six minutes per day.
About Ministry of Statistics and Programme Implementation (MoSPI):
Minister of State (Independent Charge)– Rao Inderjit Singh (Constituency- Gurugram, Haryana)
Secretary– DR. G P Samanta

Union Budget 2023-24: Union Minister Nirmala Sitharaman announces Revamping of Credit Guarantee Scheme for MSE from April 1

Nirmala Sitharaman, the union minister of finance, announced in the union budget for 2023–2024 the revamping of the Credit Guarantee Scheme for Micro & Small Enterprises (MSE) with effect from 1st April 2023.

It is revamped with an infusion of Rs 9,000 crore to the corpus to enable an additional Rs 2 lakh crore in collateral-free guaranteed credit and the reduction in the cost of the credit by about 1%.
On 30th March 2023, Rs 8,000 crore was infused into the Credit Guarantee Fund Trust for Micro & Small Enterprises (CGTMSE) corpus. CGTMSE created a new landmark by approving guarantees totalling Rs 1 lakh crore during the financial year (FY) 2022–23.

The limit on the ceiling for guarantees has been enhanced from Rs 2 crore to Rs 5 crore. For settlement of claims in respect of guarantees for loans outstanding up to Rs 10 lakh, initiation of legal proceedings will no longer be required.

CGTMSE has issued guidelines in this regard.

CBDT signs 95 Advance Pricing Agreements in FY 2022-23

The Central Board of Direct Taxes (CBDT), the Department of Revenue, the Ministry of Finance, have entered into a record 95 Advance Pricing Agreements (APAs) in the financial year (FY) 2022-2023 with Indian taxpayers. This year, CBDT recorded the highest-ever APA signings in any FY since the launch of the APA programme.

The agreement includes 63 Unilateral APAs (UAPAs) and 32 Bilateral APAs (BAPAs).

A record of the largest number of single-day signings in the history of the programme was also created with a total of 21 APAs signed on 24th March 2023.
The total number of APAs since the inception of the APA programme has gone up to 516, comprising 420 UAPAs and 96 BAPAs.

The APA Scheme aims to provide taxpayers clarity in the domain of transfer pricing by defining the pricing methodologies and determining the arm’s length price of International transactions for up to 5 years in the future.

Georgia becomes first American state to condemn Hinduphobia, passes resolution

Georgia, United States of America(USA) passed a resolution condemning “Hinduphobia” and “anti-Hindu bigotry”- becoming the first state in the country to do so.

The resolution was introduced by Representatives Lauren McDonald and Todd Jones from Forsyth County in the suburbs of Atlanta, home to one of the largest Hindu and Indian-American diaspora communities in Georgia.
The resolution observed that the American-Hindu community has been a major contributor to diverse sectors such as medicine, science and engineering, information technology, hospitality, finance, academia, manufacturing, energy, retail trade, among others

IRDAI Releases Liberalised Commission Regulations Benefitting Insurers & DistributorsThe Insurance Regulatory and Development Authority of India (IRDAI) has announced three new regulations that are anticipated to have major economic implications on market participants, including insurers and intermediaries. The three new rules are as follows:

IRDAI (Expenses of Management of Insurers transacting General or Health Insurance business) Regulations, 2023
Insurance Regulatory and Development Authority of India (Payment of Commission) Regulations, 2023
IRDAI (Expenses of Management of Insurers transacting life insurance business) Regulations, 2023

In the process, IRDAI replaced the previous regime of ‘product-wise capping’ of commission payable to intermediaries.

This is subject to insurers adhering to the IRDAI’s overall ‘expenses of management’ (EOM) limits.

About Insurance Regulatory and Development Authority of India (IRDAI):
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Establishment – 1999 (Incorporated on 1st April 2000)

IRDAI Identified LIC, GIC & New India Assurance as D-SIIs for FY23On March 31, 2023, the Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC), and New India Assurance continued to be identified by the Insurance Regulator and Development Authority of India (IRDAI) as Domestic Systemically Important Insurers (D-SIIs) for the Financial year 2022-23.

IRDAI annually identifies D-SIIs and publishes the name of the insurers for public information.
In line with the Reserve Bank of India’s benchmarking, D-SIIs are perceived to be ‘too big or (too important) to fail’.
LIC, GIC, and New India Assurance were the D-SIIs from 2020-21.
D-SIIs refers to insurers of large size, market importance and domestic and global inter-connectedness whose distress or failure would cause a significant impact on the domestic financial system.

About General Insurance Corporation of India Limited (GIC Re):
Chairman and Managing Director – Devesh Srivastava
Headquarters – Mumbai, Maharashtra
Establishment – 22 November 1972

DBS Bank Launches investment solution ‘digiPortfolio‘ Offers Morningstar curated InvestmentsDBS Bank India launched an investment solution ‘digiPortfolio’ on its digibank platform, to create a set of investment options curated by Morningstar that match the risk preferences of different investors

The platform which uses both technology and human expertise is an easy, one-stop solution for users to invest money with ready-made baskets of mutual funds.

Key Points:
i.The ‘digiPortfolio’ provides instant access to investors with two plans starting at a minimum investment of Rs 10,000 up to Rs 50,000.
ii.The plans include features such as portfolio construction, monitoring, and rebalancing services, powered by Morningstar. There are no extra charges, like sales or transaction fees.
iii.Investors could invest as long as they want and they could choose based on their goals, risk preferences, and investment duration.
iv.Under the platform, the portfolios are designed to be an investment aligned to the investor’s risk appetite and investment horizon.
v.The investment options are of mutual funds selected by Morningstar. The portfolios are adjusted even when the market is volatile, to ensure the best possible returns.
vi.Various investment options, such as domestic equity, debt and money market instruments, are included in the offering. The digiPortfolio platform is easy to use as it is automated and run by Quantifeed.

Acko, Credit Access Receives IRDAI nod to Commence Life Insurance BusinessOn March 25 2023, in its 121st meeting, the Insurance Regulatory and Development Authority of India (IRDAI), granted a certificate of registration to two new entities namely Acko Life Insurance Limited and Credit Access Life Insurance Limited to commence the life insurance business.

With the entry of the two firms into the insurance business, the number of life insurers operating in India increased to 25 which was remaining unchanged since 2011 (after Edelweiss Tokio’s registration).

Key Points:
i.In the case of Acko, it is already operating a general insurance company named Acko General Insurance.

Acko provides insurance covers in auto, health and travel segments.
It is also collaborating with cab-aggregator Ola and Amazon for bite-sized insurance covers available on their respective apps.
Acko, which became a unicorn in October 2021, is backed by Accel, Elevation Capital, Ascent Capital, Munich Re Ventures and Flipkart cofounder Binny Bansal, among others.

ii.CreditAccess Grameen Limited, headquartered in Bengaluru, Karnataka, is the largest microfinance institution in India, which focuses on providing loans to women borrowers in rural. It has the largest microfinance market share in the world.
iii.As per the statement of IRDAI, further 20 more applications are in process at various stages of registration in life, general and reinsurance segments.
About Insurance Regulatory and Development Authority of India (IRDAI)
Chairperson – Debasish Panda
Headquarters – Hyderabad, Telangana
Establishment – 2000

IPPB partners with Bharti Airtel to launch Banking Services on WhatsApp

On 31st March 2023, India Post Payments Bank (IPPB), under the ownership of the Department of Post, the Ministry of Communications, partnered with New Delhi (Delhi)-based Bharti Airtel Limited to launch banking services through WhatsApp for its customers.

With this new IPPB WhatsApp Banking channel, users of the bank will be able to easily connect with the bank on WhatsApp and access a variety of banking services, including doorstep service requests and locating the nearest Post Office.
Customers will receive the WhatsApp messaging service from Airtel IQ, a cloud-based communications platform as a service (CPaaS) company that offers customer engagement across voice, SMS, and WhatsApp channels.

IPPB and Airtel IQ will ensure multi-language support and real-time customer support agents on WhatsApp to provide quick solutions for customer queries.

BharatPe Group Partners with WEP to foster Women Entrepreneurship in IndiaBharatpe Group, one of the leading fintech company in India, has partnered with the Women Entrepreneurship Platform (WEP) to support women entrepreneurs across India in their journeys of self-reliance and business growth.

The partnership, launched under the ‘BharatPe Cares’, a Corporate Social Responsibility (CSR) initiative by BharatPe Group, is in line with the brand purpose of BharatPe “To empower lives through inclusive fintech solutions”.
This specific initiatives is under the BharatPe’s CSR program of PAYBACK.

Background:
i.According to the 6th economic census by the Ministry of Statistics and Programme Implementation(MoSPI), women accounts for only 13.76% of the total entrepreneurs (8.05 million out of the total 58.5 million entrepreneurs) in India.
ii.This highlights the need to empower women entrepreneurs in India.
About BharatPe – WEP partnership:
Aim:
To build an ecosystem that unites women entrepreneur from across India and equip them with required domain knowledge and the financial and technical know-how that are required to achieve their business goals.
Focus areas:
To facilitate development of an aggregator platform that gives access to peer support, mentorship, networking channels and a range of learning resources.
Points to note:
i.The partnership between WEP and BharatPe aims to address the difficulties faced by the women entrepresenrs and to level the playing field where women can enjou equal growth opportunities.
ii.This also aims to facilitate the the development of a plug-and-play digital infrastructure to address the existing gaps and aid the growth of women entrepreneurs.
Key Points:
i.According to the industry report, women entrepreneurs in India can generate 150-170 million jobs by 2030, more than 25% of new jobs required by working age population.
ii.Promoting women entrepreneurship will boost the economy through job creation and is critical to building India as a USD 5 trillion economy.
About Women Entrepreneurship Platform (WEP):
i.WEP, a first of its kind, is a unified access portal that unites women across India to build a nurturing ecosystem that enables women to realize their entrepreneurial aspirations.
ii.WEP is a public-private initiative that aims at providing a continuum of support to women entrepreneurs by leveraging the network of various stakeholders who are part of the ecosystem.
About BharatPe:
BharatPe was co-founded by Ashneer Grover and Shashvat Nakrani in 2018
Chief Financial Officer & Interim CEO– Nalin Negi
Headquarters– Gurgaon, Haryana

Sarbananda Sonowal launches Sagar Setu Mobile App of National Logistics Portal MarineThe Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways (MoPSW) launched the app Version of National Logistics Portal (Marine) ‘Sagar-Setu’.
It was launched in the presence of Minister of State (MoS) Shripad Yesso Naik, MoPSW Sudhansh Pant, Secretary and other senior officials.
Key Points:
i.The app offers features such as Login Module, Service Catalogue, Common Application Format, Letter of Credit, Bank Guarantee, Certification, Track and Trace, etc. that provide real-time information on activities which are out of reach for importers, exporters, and customs brokers.

This includes vessel-related details, gate information, container freight stations, and transactions, all easily accessible through the app.

ii.It also enables digital transactions for payments required for the clearance process of import and export.
iii.The SAGAR-SETU app helps custodians in easier access to functionalities on a handheld device by reducing turnaround time for approval and compliances.

App will benefit service providers and help in tracking of records and transactions offered and also receive notification of service requests.

BDL Successfully Tested the Indigenous Anti Tank Guided Missile, Amogha-IIIBharat Dynamics (BDL) successfully conducted a field firing test of its indigenous third generation man-portable Anti Tank Guided Missile (ATGM), Amogha-III.

Amogha-III has been developed under Integrated Guided Missile Development Programme (IGMDP) by the Research and Development (R&D) Division of BDL.

About Amogha-III ATGM:
i.The model of the new 3rd Generation ATGM, Amogha III was unveiled during the DefExpo 2020, a flagship biennial event of the Ministry of Defence(MoD) held in Lucknow, Uttar Pradesh in February 2020 in a hybrid format.
ii.The whole missile system comes with a command launch unit (CLU), remote operation capability and a tripod.
iii.Amogha-III ATGM which requires no external intervention following the lauch boasts the fire and forget capability.
iv.The missile also features a dual-mode Imaging Infrared (IIR) Seeker with a range of 200 to 2500 meters.
Features:
i.The Amogha-III, assisted by the Defence Research and Development Organisation (DRDO), showcased a tandem warhead, consisting of two separate explosive charges that are detonated in sequence.

The first charge, known as the precursor charge, penetrates the target’s armour, creating a hole for the second charge known as the main charge to detonate inside, maximizing damage inflicted on the target.

ii.The missile can be fired in lock-on-before launch (LOBL) mode.
iii.The anti-armour tandem warhead of the missile can penetrate in excess of 650 mm beyond Explosive Reactive Armour (ERA).
iv.This missile of versatile nature is capable of top and direct attack modes.

India & UK Scientists collaborate on SMART Early Warning Flood Alert System

Scientists from India and the United Kingdom (UK) have developed a real-time Early Warning System to help reduce the destructive effects of flooding on people and property, particularly in mountainous areas where extreme water events are a major problem. The team worked on integrating science, policy and local community-led approaches to create a so-called SMART approach that better fits the local context.

Team: Researchers from the Indian Institute of Technology (IIT) Roorkee (Uttarakhand), Imperial College London (UK), University of Birmingham (UK), and People’s Science Institute, Dehradun (Uttarakhand).
The SMART approach covers: Shared understanding of risks ensuring every group of people in a community is represented and a wide range of data collection methods are used; Monitoring risks and establishing warning systems that build trust and exchange critical risk information helping to maintain the forecasting system.

Three New Species of Bush Cricket Discovered: Hexacentrus khasiensis, Hexacentrus ashoka, & Hexacentrus tiddaeResearchers from the zoology departments of Ashoka University, Haryana; Punjab University(PU), Chandigarh; and the National Institute of Science Education and Research, Odisha have discovered 3 new predatory Bush Cricket (Hexacentrus) species namely Hexacentrus khasiensis in Meghalaya and Hexacentrus ashoka and Hexacentrus tiddae in Sonipat, Haryana.

The 3 new species were found in 2 study locations: a forested area around and inside the North Eastern Hill University (NEHU) campus of Shillong, Meghalaya, and in the forested area around Ashoka University Campus, Sonipat, Haryana.

Key Points:
i. Hexacentrus is a genus of predatory katydids. Hexacentrus is a genus of 7 species, 6 of which are morphologically defined in India and one of which is only acoustically characterised.

Based on detailed morphological, stridulatory, and acoustic characteristics, the 3 new species fall under the genus from India.

ii. Researchers- Aarini Ghosh, Ranjana Jaiswara, Monaal, Shagun Sabharwal, Vivek Dasoju, Anubhab Bhattacharjee, and Bittu Kaveri Rajaraman.

A Joint team of researchers from the zoology departments of Panjab University (PU), Ashoka University, Sonipat, and the National Institute of Science Education and Research, Orrisa, discovered three new species of predatory bush cricket in India.

iii. Zootaxa, a scientific mega journal for animal taxonomists, is likely to now include all 3 of the newly discovered species.
Hexacentrus khasiensis:
Type material- Holotype
Type locality- East Khasi Hill, Shillong, Meghalaya.
The species is named after the Khasi hill of Meghalaya.
Hexacentrus ashoka:
Type material- Holotype
Type locality- Ashoka University, Rai, Sonipat, Haryana.
The species is named after Ashoka University located in Sonipat, Haryana.
Hexacentrus tiddae:
Type Material- Holotype
Type locality- Ashoka University, Aswarpur, Sonipat, Haryana, India
The term ‘tiddae’ in Hindi and Haryanvi refers to Orthoptera, it is used for locusts and crickets.

Renowned Author & 2-time Kerala Sahitya Akademi Award Winner Sarah Thomas Passed AwayOn 31st March 2023, renowned Malayalam writer, Sarah Thomas, a 2-time Kerala Sahitya Akademi Awardee, passed away in Trivandrum, Kerala, at the age of 88. She was born on 15th September 1934 in Trivandrum, Travancore Kingdom, British India (now in Kerala).
About Sarah Thomas:
i. Sarah Thomas has written 17 novels and over 100 short stories. She published her first novel “Jeevitham Enna Nadhi” at the age of 34.
ii. She was known for her work “Narmani Putava” (1978) and, “Daivamakkal” (1982) and “Grahanam” are her favourite works.
iii. Her other notable works are Agnishuddhi (1988), Chinnammu (1988), Valakkar (1994), Neelakurinjikal Chuvakum Neram (1995), Thanneerpanthal, Yatra and Kaveri.
iv. Her novels Murippadukal, Asthamayam, Pavizhamuthu, and Archana have been adapted into movies.
Awards:
i. Sarah Thomas’s novel “Narmadi Pudava” won the Kerala Sahitya Akademi Award in 1979.
ii. In 2010, she also received the Kerala Sahitya Akademi award for Overall Contribution to Malayalam literature.

Earth Hour 2023 – March 25Earth Hour is annually observed across the globe on the last Saturday of March by turning out the lights from 8:00 p.m. to 9:00 p.m. (local time) as a symbolic act of support for the action taken on environmental issues and protecting the planet.
Earth Hour is one of the world’s largest grassroots movements for the environment.
Earth Hour 2023 was observed on 25th March 2023.

Earth Hour 2022 was observed on 26th March 2022.
Earth Hour 2024 will be observed on 30th March 2024.

The theme of Earth Hour 2023 is “The Biggest Hour for Earth”.
Background:
i. Earth Hour was initiated by the World Wide Fund of Nature (WWF), formerly the World Wildlife Fund and partners as a symbolic lights-out event in Sydney, Australia, in 2007.
ii. The 1st ever Earth Hour event was observed on 31st March 2007 in Sydney, Australia.

In the 1st Earth Hour event, more than 2.2 million people and 2,000 businesses switched off their lights for one hour.

Chennai’s WABAG bags Rs 4,400 crore Seawater Desalination Project in Tamil Nadu

Chennai (Tamil Nadu)-based VA Tech Wabag Ltd (WABAG) has bagged Rs 4,400 crore Sea Water(salt water) Reverse Osmosis (SWRO) project in Tamil Nadu (TN) which after completion would be the largest sea-water desalination project in the South East Asia region.
The project has been bagged in a joint venture (JV) with Metito Overseas Limited and will be implemented on a design, build, operate (DBO) model.
Key Highlights:
i. WABAG with Metito Overseas wins an SWRO project from Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB).
ii. The largest seawater desalination plant in South East Asia, worth Rs 4,400 crore, with a 400 Minimal Liquid Discharge (MLD) capacity, was funded by the Japan International Cooperation Agency (JICA).
iii. The DBO will take place over 42 months and will be operated and maintained for 20 years by WABAG.
iv. Desalination Process: Lamella Clarifiers, Dissolved Air Flotation System, Gravity Dual Media Filters followed by Reverse Osmosis, and Re-mineralization to produce clean drinking water.

It will be further distributed by CMWSSB to the residents of south Chennai.

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Current Affairs – 5 January 2023

April 2, 2023 by QUIZWAY

State-run firms to remain exempt from Minimum Public Shareholding NormsThe Securities and Exchange Board of India (SEBI) has amended the Securities Contracts (Regulation) Act, 1956 which will exempt Indian state-run companies from the Minimum Public Shareholding (MPS) norm that requires listed companies to maintain a 25% public shareholding.

These exempted entities will be the government and public sector undertakings (PSUs) that hold together or individually majority stake from the MPS norm.

Key Points:
i.Currently, as per SEBI norms, a company is required to have a MPS of 25% within one year of the merger with/acquisition of a company or three years after listing.
ii.The exemptions from the MPS norm will be valid for a specified period even if there is a change in ownership or control after the exemption is granted
iii.Extending this exemption will encourage more investors to buy stakes in government companies.
IDBI Bank exempted from MPS
Now, with the above changes in the regulations, IDBI Bank will also be exempted from MPS. The exact period of MPS exemption for IDBI Bank will be known to shortlisted bidders when the government shares the draft share purchase agreement (SPA) with them.

Defence Minister Rajnath Singh attended MoU Exchange Ceremony ‘Outreach Programme with MoE & MoSDE’ in New Delhii.On January 3, 2023, Union Minister Rajnath Singh, Ministry of Defence (MoD) attended the Memorandum of Understanding (MoU) Exchange Ceremony ‘Outreach Programme with Ministry of Education (MoE) & and Ministry of Skill Development and Entrepreneurship (MoSDE)’ in New Delhi, Delhi.
ii.The event saw the signing of MoUs and Agreements by MoD, MoE, MoSDE, Indian Army (IA), Indian Navy (IN), and Indian Air Force (IAF) with various stakeholders for the education and skill development of Agniveers.
iii.These MoUs will enable Agniveers to timely complete their education, develop additional qualities and skills while serving in the Armed Forces. These will also provide appropriate skill certificates in accordance with their expertise and experience.
About the Ministry of Defence (MoD):
Union Minister – Rajnath Singh (Constituency- Lucknow, Uttar Pradesh)
Minister of State (MoS) – Ajay Bhatt (Nainital-Udhamsingh Nagar, Uttarakhand)

NTPC Launches India’s First Green Hydrogen Blending Operation in PNG Network

NTPC Ltd. (formerly known as National Thermal Power Corporation Limited), India’s state-owned and largest energy conglomerate, has launched India’s first green hydrogen-blending operation in the piped natural gas (PNG) network of its Kawas township in Surat, Gujarat.

The project is a collaborative effort between NTPC Ltd and Gujarat Gas Limited (GGL) to decarbonize the cooking sector.

Backdrop
i.Prime Minister Narendra Modi laid the foundation stone for the project on July 30, 2022.
ii.The blending project would provide H2-NG (natural gas) to residents in the Kawas township of Adityanagar, Surat.

Green hydrogen is generated in Kawas by electrolysis of water utilising power from a 1 MW (megawatt) floating solar project.

Key Points:
i.P. Ram Prasad, Head of the project, Kawas, launched the first molecule of green hydrogen.

NTPC Kawas also hosted awareness workshops for township residents upon the launch of the blending operation.

ii.The Petroleum and Natural Gas Regulatory Board (PNGRB), has approved a 5% volume/volume blending of green hydrogen with PNG to begin, with the blending level gradually increasing to 20% in a phased manner.

Green hydrogen, when combined with natural gas, lowers carbon dioxide (CO2) emissions while maintaining the same net heating content.

iii.With this accomplishment, India has joined a select group of nations that includes Australia, Germany, and the United Kingdom (UK) and is now at the centre of the world’s hydrogen economy.
iv.As a result, India would be able to export green hydrogen and green chemicals to the world at large, reducing its dependence on hydrocarbon imports and earning foreign exchange (forex).
About the NTPC Ltd (formerly National Thermal Power Corporation Limited):
Chairman & Managing Director (CMD) – Gurdeep Singh
Established – 1975
Headquarters – New Delhi, Delhi

Manipur: Zeliangrong Community Celebrates Gaan Ngai Festival on 4th January 2023On 4th January 2023, the Zeliangrong or Kabui Community of Manipur celebrates the Gaan-Ngai festival to bring peace, prosperity and unity to the people of Manipur. The festival also marks the beginning of the new year and bids farewell to the old year.

Chief Minister(CM) of Manipur Nongthombam Biren Singh and Governor of Manipur La Ganesan greeted the people of Zeliangrong or Kabui Community on the occasion of the Gaan-Ngai festival.
Gaan-Ngai festival:
i.Gaan-Ngai festival is one of the biggest cultural and religious post-harvest festivals of the Zeliangrong community that marks the end of the year when the farmers stores their harvest in their granaries.
ii.The festival is celebrated by all non-Christian villages of Zeliangrong tribes which includes, Zeme, Liangmei, Rongmei, Kabui, Inpui and others living in Assam, Manipur and Nagaland.
About the Zeliangrong Naga tribe:
i.Zeliangrong Naga tribe (comprising of Rongmei, Liangmei, Zemei and Pumei) are Tibeto-Burman (Indo-Mongoloid) of the Sino-Tibetan family of the Mongolian race.
ii.They are one of the major indigenous Naga communities living in the tri-junction of Assam, Manipur and Nagaland in India.
iii.The term Zeliangrong was coined on 15 February 1947 in Imphal, Manipur by combining the first syllables of the names of the three sub. ethnic groups: Ze, Liang, and Rong.
iv.It is classified as an ethno-cultural entity.
About Manipur:
Chief Minister– Nongthombam Biren Singh
Governor– La Ganesan
Wildlife sanctuary -Khongjaingamba Ching Wildlife Sanctuary
Zoological park– Manipur Zoological Garden

PM Narendra Modi addresses 108th Indian Science Congress through Video ConferencingOn 3rd January 2023, Narendra Modi, the Prime Minister(PM) of India, virtually inaugurated and addressed the 108th edition of the Indian Science Congress (ISC), also known as ISC 2023, organised at Rashtrasant Tukadoji Maharaj (RTM) Nagpur University, Nagpur, Maharashtra.

108th ISC is a 5-day event, held from 3rd January 2023 to 7th January 2023.
2023 also marks the centenary celebration of RTM Nagpur University.

The focal theme of the ISC 2023 is “Science and Technology for Sustainable Development with Women Empowerment”.

The theme will centre on sustainable development, women’s empowerment, and the contribution of science and technology to these goals.

Note: The 108th ISC was scheduled to be held in 2021 and then in 2022, which was cancelled twice due to the COVID-19 pandemic.
Background:
i. The ISC Association was founded in 1914 in Kolkata and held a meeting every year during the 1st week of January. It has a membership of more than 30,000 scientists.
ii. The 1st session of the Indian Science Congress was held from January 15-17 in 1914 at the Asiatic Society in Calcutta (now Kolkata), West Bengal.
Highlights:
i. The key highlight of ISC is sustainable development with inclusive involvement of all sections of society including women.
ii. Narendra Modi emphasised the importance of India’s scientific strength in India’s story of development over the next 25 years.
iii. He highlighted the abundant availability of data and technology in 21st-century India, which has the potential to take Indian science to new heights.
iv. He emphasised the benefits of partnerships with R&D labs and academic institutions for private companies and startups.
Key Points:
i. PM Narendra Modi noted that India is being counted among the top countries of the world as India moved to 40th place in the Global Innovation Index in 2022 from 81st place in 2015.

India is ranked 3rd in terms of the number of Doctors of Philosophy (PhDs) and startup ecosystems, followed by the United States (US) and China.

ii. The session is focused on sustainable development with inclusive involvement of all sections of society including women, and deliberate on holistic growth, reviewed economics, and sustainable goals.
iii. PM Narendra Modi noted that on the initiative of PM Modi and the proposal of the Government of India, the United Nations(UN) declared 2023 as the International Year of Millets.

ADB, India sign $220 million loan pact to Strengthen Power Sector in Tripura

On January 3, 2023, the Asian Development Bank (ADB) and the Government of India (GoI) signed a $220 million loan pact for Tripura Power Distribution Strengthening and Generation Efficiency Improvement Project.

The loan amount will be utilized towards improving energy security, quality of supply, efficiency, and resilience of power sector in Tripura.

Signatories:
Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs in the Ministry of Finance signed for GoI, and Hoe Yun Jeong, Officer-in-Charge of ADB’s India Resident Mission, signed for ADB.
Key Points:
i.The project will support the Government of Tripura’s efforts to strengthen its power sector through replacement of inefficient power plants, strengthen the distribution network and installation of smart meters that will help in increasing generation capacity, reduce distribution losses and to meet the increasing electricity demand.
ii.The Project will also fund the replacement of Rokhia power plant with a highly efficient combined cycle gas turbine that will reduce Greenhouse Gas Emissions (GHGs).
iii.The project will support at least 15 selected women self-help groups (SHGs) under Tripura rural livelihood mission.
iv.The project components will be designed to withstand heavy rainfall, lightning, and storms.
v.The distribution underground cabling will be installed by the horizontal directional drilling method or tunneling method to minimize road openings and reduce socio-environmental impacts during project implementation.
For Other Loan agreements of ADB with Indian States, Click Here.

ICICI Bank Introduces First-of-its-Kind Digital Solutions for ExportersIn a first-of-its-kind industry initiative, ICICI Bank Limited, a leading private sector bank in India, has launched Digital Solutions For Exporters, a comprehensive set of banking and value-added services on a single platform.

The initiative intends to improve operational efficiency of exporters by decongesting the current time-consuming manual procedures.

Significance
i.The set of solutions digitizes every stage of the export process, including market research, export financing, foreign exchange (forex) services, and receiving export incentives.
ii.Additionally, the package of solutions provides first-in-the-industry features including Trade APIs (Application Programming Interface) and instant disbursal of Export Packing Credits (Insta EPC).
Key Services and Offerings of the Digital Solutions for Exporters

i.Exporters with an ICICI Bank relationship will benefit from the ease of instant and digital Export Packing Credit (EPC).

This service is available for export-import transactions through ‘Trade Online’, the flagship digital platform of ICICI Bank.

i.ICICI Bank provides Trade APIs, a future-ready industry-first solution for the seamless handling of export bills.

APIs include Remittances, Letters of Credit, and Bank Guarantees.

About the ICICI Bank Limited:
Managing Director (MD) & Chief Executive Officer (CEO) – Sandeep Bakhshi
Headquarters – Mumbai, Maharashtra
Establishment – 1994

Aegon Life Insurance Launches iTerm Prime Insurance Plan Aegon Life Insurance has launched the “iTerm Prime” insurance plan, which will fulfill the requirements of self-employed individuals by offering a special 10% discount (5% discount in addition to the 5% online discount for all) on the first-year premium.
Key Features of iTerm Prime
i.The flagship term insurance plan, iTerm Prime, gives a minimum sum assured for a life cover of Rs. 25 lakhs with no maximum limit on a consumer’s requirement.
ii.The minimum entry age is 18 years, while the maximum age for regular pay is 65 years and 50 years for limited pay.

In the regular payment mode, the premium must be paid throughout the policy term.
In limited pay, premiums can be paid for a fixed period of time while receiving policy coverage until the age of 70.

iii.To make the product more affordable to the end user, a special discount and flexible payment options have been provided.

The product is available for purchase through Aegon Life’s website and its partners in a completely paperless method that requires no documents or uploads.
Permanent Account Number (PAN), Aadhaar, or a driver’s licence are the only documents required to purchase insurance.

iv.The product also has a “Special Exit Value” (SEV) option, which allows the policyholder to get a refund of all premiums when they reach the age of 55.

The entry age for this is 40 years, and the policy term is till 70 years.
The policy provides a 15–30-day grace period for premium payments.

v.Additionally, the policy offers unique add-on features including Critical Illness Rider and Accidental Death Benefit Rider.
Key Points:
i.iTerm Prime is intended to promote life insurance access in emerging India.
ii.It digitizes underwriting and simplifies buying journeys, making insurance available to under-insured self-employed individuals, who make up the majority of India’s working population.

The number of self-employed people in India stood at 333 million in 2021.

About Aegon Life Insurance:
Aegon Life Insurance Company is a joint venture (JV) between Bennett, Coleman and Co. Ltd. (BCCL), and Aegon NV.

BCCL is the largest media conglomerate in India and also known as the Times Group.
Aegon NV is a major international provider of life insurance, pensions, and asset management services.

MD and CEO – Satishwar Balakrishnan
Established – 2007
Headquarters – Mumbai, Maharashtra

GA-ASI partners with Bharat Forge to Manufacture Aerostructures in India

General Atomics Aeronautical Systems, Inc. (GA-ASI), a subsidiary of General Atomics(GA) based in San Diego, California, United States of America(USA), has partnered with Bharat Forge Limited, a part of Kalyani Group, to manufacture aerostructures – main landing gear components, subassemblies, and assemblies of remotely piloted aircraft in India.
About the partnership:
i.The partnership aims to support the development of a manufacturing ecosystem for high-end drones.
ii.The partnership between GA and Bharat Forge aims to enhance the capacity building of both companies and provide momentum to the large unmanned aircraft industry of India.
iii.Under this partnership, GA-ASI will work with Bharat Forge in the critical field of aerospace manufacturing.
iv.Bharat Forger will offer full-service supply capability from concept to product design, engineering, manufacturing testing and validation.

Current Affairs Daily Digest – 5 January 2023

Last updated: Fri Jan 06 2023

These exempted entities will be the government and public sector undertakings (PSUs) that hold together or individually majority stake from the MPS norm.

NTPC Launches India’s First Green Hydrogen Blending Operation in PNG Network

The project is a collaborative effort between NTPC Ltd and Gujarat Gas Limited (GGL) to decarbonize the cooking sector.

Green hydrogen is generated in Kawas by electrolysis of water utilising power from a 1 MW (megawatt) floating solar project.

Key Points:
i.P. Ram Prasad, Head of the project, Kawas, launched the first molecule of green hydrogen.

NTPC Kawas also hosted awareness workshops for township residents upon the launch of the blending operation.

Green hydrogen, when combined with natural gas, lowers carbon dioxide (CO2) emissions while maintaining the same net heating content.

108th ISC is a 5-day event, held from 3rd January 2023 to 7th January 2023.
2023 also marks the centenary celebration of RTM Nagpur University.

The focal theme of the ISC 2023 is “Science and Technology for Sustainable Development with Women Empowerment”.

The theme will centre on sustainable development, women’s empowerment, and the contribution of science and technology to these goals.

India is ranked 3rd in terms of the number of Doctors of Philosophy (PhDs) and startup ecosystems, followed by the United States (US) and China.

ADB, India sign $220 million loan pact to Strengthen Power Sector in Tripura

The loan amount will be utilized towards improving energy security, quality of supply, efficiency, and resilience of power sector in Tripura.

The initiative intends to improve operational efficiency of exporters by decongesting the current time-consuming manual procedures.

This service is available for export-import transactions through ‘Trade Online’, the flagship digital platform of ICICI Bank.

i.ICICI Bank provides Trade APIs, a future-ready industry-first solution for the seamless handling of export bills.

APIs include Remittances, Letters of Credit, and Bank Guarantees.

About the ICICI Bank Limited:
Managing Director (MD) & Chief Executive Officer (CEO) – Sandeep Bakhshi
Headquarters – Mumbai, Maharashtra
Establishment – 1994

In the regular payment mode, the premium must be paid throughout the policy term.
In limited pay, premiums can be paid for a fixed period of time while receiving policy coverage until the age of 70.

iii.To make the product more affordable to the end user, a special discount and flexible payment options have been provided.

The product is available for purchase through Aegon Life’s website and its partners in a completely paperless method that requires no documents or uploads.
Permanent Account Number (PAN), Aadhaar, or a driver’s licence are the only documents required to purchase insurance.

iv.The product also has a “Special Exit Value” (SEV) option, which allows the policyholder to get a refund of all premiums when they reach the age of 55.

The entry age for this is 40 years, and the policy term is till 70 years.
The policy provides a 15–30-day grace period for premium payments.

The number of self-employed people in India stood at 333 million in 2021.

About Aegon Life Insurance:
Aegon Life Insurance Company is a joint venture (JV) between Bennett, Coleman and Co. Ltd. (BCCL), and Aegon NV.

BCCL is the largest media conglomerate in India and also known as the Times Group.
Aegon NV is a major international provider of life insurance, pensions, and asset management services.

MD and CEO – Satishwar Balakrishnan
Established – 2007
Headquarters – Mumbai, Maharashtra

GA-ASI partners with Bharat Forge to Manufacture Aerostructures in India

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Quarterly Current Affairs 2023 Vol. 1 - January to...

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Current Affairs – 3 January 2023

April 2, 2023 by QUIZWAY

MoF Increases Interest Rates On a Number of Small Savings Schemes for Q4 FY23 Beginning January 1, 2023The Department of Economic Affairs (DEA), a department of the Ministry of Finance (MoF), has raised the interest rate on a number of small savings schemes for the fourth quarter (Q4) of the current fiscal year 2022–23 (FY23), which runs from January 1, 2023 – March 31, 2023.
Various Small Savings Schemes with Increased Interest Rates
i.The rates on the various instruments have increased by 20 to 110 basis points (bps), and they now range from 4.0 % to 7.6 %.
ii.All post office time deposits, the Kisan Vikas Patra (KVP), the Senior Citizen Savings Scheme, the Monthly Income Savings Scheme, the National Savings Certificate, and others now have higher interest rates.

Meanwhile, the interest rates on the Public Provident Fund (PPF), Sukanya Samriddhi Account, and Savings Deposit have remained unchanged.

iii.The Shyamala Gopinath Committee provided the formula to calculate the interest rates for the small savings scheme.
About the Ministry of Finance (MoF):
Union Minister – Nirmala Sitharaman (RajyaSabha- Karnataka)
Ministers of State (MoS) – Pankaj Chaudhary; Dr. Bhagwat Kishanrao Karad

MoU Signed for Commercial Production of Indigenously-Developed ‘Lumpi-ProVac’ Vaccine

A Memorandum of Understanding (MoU) for the production of goat pox vaccine and ‘Lumpi-ProVac’ vaccine has been signed in Nagpur, Maharashtra in the presence of Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala, Maharashtra Chief Minister(CM) Eknath Shinde and Deputy CM Devendra Phadnavis.

This will play a major role in the efforts of the government to control and eradicate the Lumpy Skin Disease. The Lumpy Skin Disease has been reported in India from 2019 while the first case was reported in Odisha.
National Centre for Veterinary Type Culture, Indian Council of Agricultural Research (ICAR) -National Research Centre on Equines (ICAR-NRCE), Hisar (Haryana), in collaboration with ICAR-Indian Veterinary Research Institute (IVRI), Izatnagar (UP) developed a homologous live-attenuated LSD vaccine, named Lumpi-ProVac against lumpy skin disease (LSD) in animals.

GoI Introduces New Integrated Food Security Scheme for 2023The Government of India (GoI) has introduced a new Integrated Food Security Scheme beginning January 1, 2023, to supply free food grains to more than 81.35 crore beneficiaries under the National Food Security Act (NFSA).

According to the Ministry of Consumer Affairs and Food and Public Distribution (MoCA, F&PD), the scheme will also ensure effective and uniform enforcement of the NFSA.

New Integrated Food Security Scheme
i.The new integrated scheme will subsume two present food subsidy schemes run by the Department of Food and Public Distribution (DFPD), MoCA and F&PD. They are:

Food Subsidy to Food Corporation of India (FCI) for NFSA
Food Subsidy for Decentralized Procurement States, which deals with procuring, allocating, and delivering free food grains to the states under the NFSA

ii.Free foodgrains will ensure uniform implementation of portability under ‘One Nation, One Ration Card’ (ONORC) across India, thereby strengthening this choice-based platform.
About the Group of Twenty (G20):
The G20 is the leading forum for economic cooperation on a global scale.
G20 Members: Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, the United Kingdom (UK), the United States (US) and the European Union (EU).

MoRD launches Prajjwala Challenge inviting Ideas, Solutions & Actions to Transform Rural EconomyThe Ministry of Rural Development (MoRD)’s flagship poverty alleviation program Deendayal Antyodaya Yojana – National Rural Livelihoods Mission (DAY-NRLM) has launched the ‘Prajjwala Challenge’ – Unlock the Rural Economic Opportunity’ with an aim to invite ideas, solutions, and actions that can Transform Rural Economy.

On 29th December 2022, Shailesh Kumar Singh, Secretary of MoRD, launched the Prajjwala Challenge in New Delhi, Delhi.

Charanjit Singh, Additional Secretary (RL), senior officers of the Ministry, key State Mission Directors of State Rural Livelihoods Missions, Start-ups, incubators and NGO representatives.
Prajjwala Challenge:
Prajjwala Challenge is a first-of-its-kind nationwide initiative to provide thoughtful minds with a platform to present new, innovative and scalable pathways for rural economic transformation in India.
i. Applications are open from 29th December 2022 to 31st January 2023.
ii. The Mission will acknowledge the shortlisted ideas and offer them incubation support and mentorship from a team of subject matter experts.

The top 5 ideas will be rewarded with Rs. 2 Lakh each. The winners will be announced on 8th March 2023.

Board Contours for the Idea- Categories:

Focus on Women and Marginalized sections of the community,
Localised Models,
Sustainability,
Cost Effective solutions,
Multi-sectoral ideas and solutions etc.

Click here to visit the Prajjwala Challenge website
Key Points:
i. The Mission is looking for ideas and solutions around Innovative Technology Solutions, Inclusive Growth, Value Chain Interventions, Enhanced Women Entrepreneurship, Cost-effective Solutions, Sustainability, place-based employment, localised models etc.

More than 87 million women have been recruited into Self-Help Groups and associated federations as a result of the mission so far.

ii. According to MoRD, it is one of the platforms where ideas are invited from individuals, Social Enterprises, start-ups, the Private Sector, Community Based Organizations, Incubation centres and Investors having the potential to transform the rural economy.
iii. To reach a greater number of candidates, the office of the Principal Scientific Advisor will also promote the Prajjwala Challenge in the Manthan portal and the BIMTECH-Atal Innovation Mission Portal.
DAY-NRLM:
i. DAY-NRLM is one of the flagships of poverty alleviation programs of the MoRD.
ii. It aims at creating efficient and effective institutional platforms for the rural poor, enabling them to increase household income through sustainable livelihood enhancements and improve access to financial services.

Croatia Joins Schengen Zone & Switches to EuroOn January 1, 2023, Croatia, the youngest member of the European Union (EU), adopted the ‘Euro’ currency, and it became a part of Europe’s border-free Schengen zone.

Croatia, a Balkan country, is now the 20th member of the Eurozone and the 27th country to join the passport-free Schengen zone.

Croatia is a former Yugoslav republic that fought an independence war in the 1990s and joined the EU in 2013.
Schengen Area

Schengen Area signifies a zone where 27 European countries including four which are not members of the European Union (EU), abolished their internal borders, for the free and unrestricted movement of people.

This largest free-travel zone in the world was first established in 1985 as an intergovernmental effort including five EU nations—France, Germany, Belgium, the Netherlands, and Luxembourg.
The European countries that are not part of the Schengen zone are Albania, Andora, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Bulgaria, Cyprus, Georgia, Ireland, Kosovo, North Macedonia, Moldova, Monaco, Montenegro, Romania, Russia, San Marino, Serbia, Turkey, Ukraine, The United Kingdom and Vatican City.

ii.In terms of Schengen, this is the eighth expansion and the first in 11 years.
Euro Area: The Eurozone
i.The European Union (EU) member states that have adopted the “Euro” as their national currency collectively refer to themselves as the “Euro Area” or “Eurozone.”

With Croatia, 20 EU Member States and 347 million EU citizens will share the EU’s common currency.

ii.The euro will progressively replace the ‘Kuna’ as the official currency of Croatia starting on January 1, 2023.

The new Croatian euro coin will have inventor Nikola Tesla on one side, as well as a map of the country and the national checkerboard design.

iii.In accordance with a track record of stable exchange rates, the kuna will be exchanged at a rate of 1 euro for 7.53450 of Croatian kuna.

The two currencies will be used alongside each other for a two-week period (14 days).

iv.After Lithuania entered the eurozone in 2015, this is the eurozone’s first expansion in almost eight years.
Key Points:
i.Croatia will maintain strict border controls along its eastern border with non-EU neighbours Federation of Bosnia and Herzegovina (FBiH), Montenegro, and Serbia.
ii.The most challenging problem in safeguarding the EU’s 1,350-kilometer (840 miles)-long external land border remains combating illegal migration.
About Republic of Croatia:
President – Zoran Milanović
Capital – Zagreb
Currency – Euro (EUR)

CAD widens to 4.4% of GDP in Q2FY23, Banks’ net NPA ratio at 10-yr low: RBI ReportAccording to the Reserve Bank of India (RBI)’s 26th issue of of the Financial Stability Report (FSR) on December 29 2022 ,India’s Current Account Deficit (CAD) widened to 4.4 per cent of GDP in Q2:2022-23 from 2.2 per cent of GDP in the previous Q2:2022-23 and 1.2 per cent in 2021-22.
ii.In absolute terms, CAD was $36.40 billion in Q2FY23 which is highest in more than a decade.
iii.India’s foreign exchange reserves on BoP basis recorded a deficit of $30.4 billion compared to a $31.2 billion surplus in the Q2FY22.
iv.The RBI also released the 26th Financial Stability Report (FSR) which states the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability and the resilience of the financial system.
v.The Gross Non-Performing Asset (GNPA) ratio of scheduled commercial banks (SCBs) fell to a seven-year low of 5% and Net Non-Performing Assets (NNPA) have dropped to ten-year low of 1.3% in September 2022.
About Reserve Bank of India (RBI):
Governor– Shaktikanta Das
Deputy Governors– Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Headquarters– Mumbai, Maharashtra
Establishment– 1st April 1935

Indian Bank Unveils QR Bill-Based Payment System for CESC-Mysuru

On 1st January 2023, Indian Bank unveiled the QR (Quick Response) code bill payment system for Chamundeshwari Electricity Supply Corporation Limited (CESC) making it the first power distribution company to offer such an initiative to customers in Mysuru, Karnataka.

It was launched by Karnataka Minister of Energy V Sunil Kumar in the presence of senior government officials including CESC managing director Jayavibhava Swamy.
This dynamic QR code that is linked to the unified payments interface (UPI) on printed electricity bills, will help customers in making their payments without visiting any online portal or physically going to any payment centre.

Tripura signs Rs 2,275cr agreement with ADB to improve Power Distribution NetworkThe Tripura government has signed an agreement with Asian Development Bank (ADB) worth Rs 2,275 crore to strengthen and improve power distribution efficiency in Tripura.

Under this, ADB will support the state government’s efforts to strengthen its power sector by replacing inefficient power plants and strengthening the distribution system. The project will be implemented in the next three years.
Of the Rs 2,275 crore fund, the central government will repay Rs 1,820 crore while the state will provide Rs 455 crore.

Signatories:
It was signed by Brijesh Pandey, power secretary of Tripura, and Nilaya Mitesh, the officer in charge of ADB’s India Resident Mission.
Key Points:
i.The state government will undertake massive renovation of two power projects – Rukhia in Sepahijala district and Gumati Hydro project in Gomati district.
ii.There will be a lot of work in the transmission sector to improve the existing system.
iii.Currently, Tripura generates 84 MW (Mega Watt) power out of the state’s per day demand of 450/460 MW.

It receives around 500 MW power from OTPC (ONGC Tripura Power Company Limited), NEEPCO (North Eastern Electric Power Corporation Limited) and other central PSUs (Public Sector Undertakings).

iv.Apart from the ADB funding, an additional amount of Rs 800 crore will be spent to improve the power distribution of the state.
About Tripura:
Governor– Satyadeo Narain Arya
Chief Minister– Manik Saha
Wildlife Sanctuary (WLS)– Sepahijala WLS, Trishna WLS, Gomati WLS

IIT-Madras & DRDO Partners to Introduce DIA-RCoE for Advanced Defence Technology Research

Indian Institute of Technology (IIT)-Madras has created a ‘centre of excellence’ named ‘DRDO Industry Academia-Ramanujan Centre of Excellence’ (DIA-RCoE) at a campus unit set up by the Defence Research and Development Organisation (DRDO) to develop advanced technologies for national defence and security. The interdisciplinary research group will bring in faculty and researchers from multiple departments for translational research.

This centre will undertake basic and applied research in areas including electronics and computational systems; naval systems and naval technologies; advanced combat vehicle technologies; high-power CW laser sources; and next-generation communication and networking technologies.

Luiz Inácio Lula da Silva sworn in as 39th President of Brazil On 1st January 2023, Luiz Inacio Lula da Silva, the veteran left-wing politician, known widely as Lula, was sworn in for the 3rd term as the President of the Republic of Brazil during the inauguration ceremony held at the National Congress, in Brasilia, Brazil.

He was sworn in as the 39th president of Brazil by winning the 2022 Brazilian general election against far-right leader Jair Bolsonaro(incumbent President of Brazil (from 2019 to 2022).
Luiz Inacio Lula da Silva won 50.9% of the vote while Jair Bolsonaro won only 49.1%.

Geraldo Alckmin was sworn in as Brazil’s Vice President during the event.

The session began with a tribute to soccer star Pele, who passed away on 29th December 2022.

About Luiz Inacio Lula da Silva:
i. Luiz Inácio Lula da Silva was born in 1945 in Caetés, Pernambuco, Brazil.
ii. He was in the labour movement when he worked at Villares Metals S.A. Later, he was elected in 1975, and re-elected in 1978, as president of the Steel Workers’ Union of São Bernardo do Campo and Diadema.

He helped build a labour union movement into the important Workers’ Party.
In 1988, his party won easily in So Paulo (Brazil) and other big cities.

iii. Although he was a strong candidate for president in 1989, 1994, and 1998 and advocated for measures to support Brazil’s working class, he lost to more conservative contenders each time.
iv. He was first elected as the President in 2002 and was inaugurated as President on 1st January 2003. He was again re-elected as President in 2006 for a 2nd term which ended in 2011.
v. He governed Brazil for 2 consecutive terms between 2003 and 2010. He won his 1st term in 2002 and 2nd term in 2006.
About Brazil:
President- Luiz Inácio Lula da Silva
Capital- Brasília
Currency- Brazilian Real

Ajay Kumar Srivastava Becomes New MD & CEO of Indian Overseas BankAjay Kumar Srivastava has been appointed as Managing Director (MD) and Chief Executive Officer (CEO) of Indian Overseas Bank (IOB), a public sector bank (PSB), for a period of 3 years with effect from the date of assumption of office on or after 1st January 2023.

Prior to this appointment, Ajay Kumar Srivastava was serving as the Executive Director of IOB.
He was appointed following the superannuation of Partha Pratim Sengupta, MD & CEO of IOB, on 31st December 2022.

Note: Srivastava was appointed MD and CEO of IOB by the Government of India (GoI) on September 20, 2022, with effect from January 1, 2023.
About Ajay Kumar Srivastava:
i.Srivastava began his banking career in 1991 as a Probationary Officer (PO) at Allahabad Bank.

Additionally, he served as a Director on the board of the Regional Rural Bank (RRB) in Allahabad Bank.

ii.He spent around 27 years at Allahabad Bank before being appointed as Executive Director of IOB in October 2017.
iii.He played a major role in bringing IOB out of loss in March 2020 and out of Prompt Corrective Action (PCA) in September 2021.

In addition, he was the only Executive Director in IOB for around 14 months in 2020-2021.

iv.In 2020, he was appointed as the Director on the Board of the India Infrastructure Finance Company Limited (IIFCL) for a 2-year term.

Additional info:
The government of India has appointed Sanjay Vinayak Mudaliyar, Chief General Manager at Bank of Baroda(BoB) as Executive Director in IOB for a period of 3 years with effect from the date of assumption of office on or after 1st January 2023.

About Indian Overseas Bank (IOB):
MD & CEO – Ajay Kumar Srivastava
Establishment – 1937
Headquarters – Chennai, Tamil Nadu
Tagline – Good People to Grow With

Election Commission appoints Maithili Thakur as Bihar’s State Icon

On 2nd January 2023, Maithili Thakur, a Folk Singer, was appointed as the State Icon for Bihar by the Election Commission(EC).

Maithili Thakur, an Indian classical and folk music-trained musician was recently chosen for the Ustad Bismillah Khan Yuva Puraskar of the Sangeet Natak Akademi (Akademi Award) for her contribution to the folk music of Bihar for 2021.
According to EC, Maithili Thakur will create awareness among the voters for their participation in the electoral process.

FIDE World Rapid and Blitz Championships 2022: Koneru Humpy wins India’s first Silver Medal at World Blitz ChampionshipsIndian Grandmaster (GM) Koneru Humpy, a former world rapid champion, has won a Silver medal in the Women’s World Blitz Championship at the FIDE(Fédération Internationale des Échecs) World Rapid and Blitz Championship 2022 held in Almaty, Kazakhstan from 25th to 30th December 2022.

Koneru Humpy has won India’s 1st ever Silver medal in the World Blitz Chess Championships defeating Zhongyi Tan of China.

She finished with an outstanding 12.5 points, just 0.5 points behind Bibisara Assaubayeva of Kazakhstan, who won the gold medal.

Koneru Humpy is the 2nd Indian to win a medal at World Blitz, after Viswanathan Anand.

Note:
GM Magnus Carlsen of Norway won the World Blitz Chess Championship 2022 in the Open Blitz category.

He previously won the World Rapid chess championship and currently holds all 3 world championship titles – Classical, Rapid and Blitz.

Final Standings: (Blitz)

About Koneru Humpy:
i. Koneru Humpy was born in Vijayawada, Andhra Pradesh is known for her playing style and winning the World Rapid Chess Championship in 2020.
ii. She is one of the best chess players ever, with a Classical Elo rating of 2586 and a current world ranking of 204.
iii. She made her debut in a Chess tournament in 1993 and become a district Champion, at the age of 6.
iv. After winning the national chess championship in the under-8 division in 1995, she won all of the under-10, 12 and 15 competitions in 1996.
v. She won nearly all of the chess youth championship titles by taking home 2 further titles in the under-15 and junior divisions in 2000 and 2001.
vi. In 2007, she became the only 2nd player to cross the Elo rating of 2600 after Judit Polgar of Hungary.

Koustav Chatterjee Becomes India’s 78th GM in MPL 59th National Senior Chess ChampionshipOn 31st December 2022, Kolkata-based chess player Koustav Chatterjee (19-year) became India’s 78th Grandmaster (GM) in MPL 59th National Senior Chess. He is also the 10th GM from Kolkata and West Bengal (WB).

The 59TH MPL Senior National Chess Championship 2022 was held at K.D Jadhav Indoor Sports Hall, IG Stadium, New Delhi organised by the Delhi Chess Association Under the aegis of All India Chess Federation (AICF).

Highlights:
i.Koustav Chatterjee earned his first GM norm in October 2021 at a Sheikh Russel GM 2021 in Bangladesh and got his second GM norm at the Asian Continental Chess Championship 2022 held in New Delhi, Delhi from 25th October 2022 to 4th November 2022.

In August 2022, for the first time he crossed 2500 in the FIDE (Fédération Internationale des Échecs/International Chess Federation) rating list.

ii.Koustav is now joint-lead with GM Abhijeet Gupta at the National Senior Chess Championship with a score of 8/10 after 10 rounds.
Note – Hari Madhavan N B (19 years old) from Tamil Nadu (TN) becomes the 1st International Master of India in 2023.

Former Tata Sons Director Padma Shri Awardee R.K. Krishna Kumar Passed AwayOn 1st January 2023, Tata group veteran and Former Director of Tata Sons, Padma Shri Awardee Rayaroth Kuttambally Krishna Kumar passed away in Mumbai, Maharashtra at the age of 84.

He was a close confidant of Ratan Tata, well-known for his role in several Tata Group acquisitions, including the acquisition of Tetley in 2000.

About R.K. Krishna Kumar:
i. R.K. Krishna Kumar, fondly known as KK, was born in 1938 in Thalassery (formerly Tellicherry), Kerala.
ii. He started his career with Tata Administrative Services in 1963. He began working for Tata Global Beverages (formerly known as Tata Finlay) in 1965 and later rose through the ranks to become the Vice President of South India Plantations in 1982.
iii. In 1988, he was promoted to the joint managing director of the company.
iv. In 1997, he was appointed as the head of the division of Indian Hotels Company (IHCL), which owns the Taj Group of hotels.
v. He had served in multiple positions in the Tata group, including heading its hospitality arm Indian Hotels.
vi. He was involved in the Tata group’s charitable trusts, which own a 66% interest in Tata Sons and was a close associate of Ratan Tata, Chairman Emeritus of Tata Sons.
vii. In 2009, he joined Sri Ratan Tata Trust as a trustee and was on the board of Tata Sons till his retirement in 2013.

He served as a trustee of Sir Dorabji Tata Trust and Sir Ratan Tata Trust.

Award:
In 2009, R.K. Krishnakumar received the Padma Shri award, India’s 4th highest civilian honour, for his contributions to Indian Trade and Industry.

Grammy-winning American singer Anita Pointer Passed Away

On 31st December 2022, Anita Marie Pointer, a Grammy-winning American singer-songwriter, passed away at the age of 74. She was best known as a founding member of the vocal group the Pointer Sisters.

Anita Pointer was born on 23rd January 1948 in Oakland, California, United States (US).
“The Pointer Sisters” won 3 Grammys (1985 – Best Pop Performance By A Duo Or Group With Vocal and Best Vocal Arrangement For Two Or More Voices & 1975 – Best Country Vocal Performance By A Duo Or Group )
The Pointer Sisters was the 1st African American group to perform on the Grand Ole Opry program and the 1st contemporary act to perform at the San Francisco Opera House.

Former IAS officer Kaki Madhava Rao has authored a new book titled “Breaking Barriers: the Story of a Dalit Chief Secretary” which addresses the details about the dynamics of civil services at the ground level and also fills the gap in the knowledge about micro policies and governance. The book is published by Emesco Books Private Limited.

K Madhava Rao is a 1962 batch Indian Administrative Service (IAS) officer, who retired as Chief Secretary of Andhra Pradesh (AP). He was born in Pedamaddali village of Krishna district, AP in 1939.
He also served in the Reserve Bank of India(RBI) as a Director and as a member of a sub-committee, the Board for Financial Supervision.

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Current Affairs – 1 & 2 January 2023

April 2, 2023 by QUIZWAY

PM Modi virtually Inaugurates Rs 7,600 crore worth Railway projects in West Bengal

Narendra Modi, Prime Minister (PM) of India, virtually inaugurated a railway project worth Rs 7600 crore in West Bengal. He dedicated 4 railway projects to the nation including Boinchi – Shaktigarh 3rd Line, Dankuni – Chandanpur 4th Line Project, Nimtita – New Farakka Double Line and Ambari Falakata – New Maynaguri – Gumanihat Doubling Project.

He also flagged off the 7th Vande Bharat Express from Howrah to New Jalpaiguri station and inaugurated the Joka-Taratala-stretch of the Purple Line of Kolkata Metro.
He also laid the foundation stone for the redevelopment of the New Jalpaiguri Railway Station.

About West Bengal:
Chief Minister– Mamata Banerjee
Governor– Dr. C.V. Ananda Bose
National Parks– Singalila National Park; Neora Valley National Park
Tiger Reserve– Buxa Tiger Reserve; Sundarban Tiger Reserve

Artpark-IISc Join Hands with Google to Launch AI-Powered Project Vaani

ARTPARK (Artificial Intelligence (AI) & Robotics Technology Park), a not-for-profit organisation backed by the Indian Institute of Science (IISc), Bangalore has collaborated with Google. to launch ‘Project Vaani’, a pan-India inclusive language data initiative for open-sourcing datasets at ‘Google for India 2022’ event held in New Delhi.

This will amplify Government of India (GoI)’s Digital India efforts by including more diverse regional and local languages.

About Project Vaani:
i.Project Vaani aims to compile comprehensive datasets of transcribed text and spoken language from each district in India and are open-sourced via Vaani’s website.
ii.In future, they can also be accessed through other platforms like “Bhashini” of Ministry of Electronics and Information Technology (MeitY) for advancing research and innovation.
iii.Vaani joins the Bhāshā AI umbrella of Artpark and IISc’s Synthesizing Speech in Indian Languages (SYSPIN) and Recognizing Speech in Indian Languages (RESPIN) programmes, which encompass 9 languages (Hindi, Bengali, Marathi, Telugu, Bhojpuri, Kannada, Magadhi, Chhattisgarhi, and Maithili).
About ARTPARK (Artificial Intelligence (AI) & Robotics Technology Park):
Chairman Hub Governing Board – Govindan Rangarajan
Headquarters – IISc, Bengaluru, Karnataka
About Google:
Chief Executive Officer (CEO) – Sundar Pichai
Headquarters – California, United States of America (USA)

Govt Approves PADMA as Self Regulatory body for the publisher

The government of India(GoI) has approved the Print and Digital Media Association (PADMA) as a self-regulatory body for publishers of news and current affairs across India.
PADMA, an organisation with 47 digital news publishers, will look at grievances related to digital media news content on its platform.

The Ministry of Information and Broadcasting (I&B) intimated the approval through an official order on 2nd December 2022.
The organisation will be headed by former High Court(HC) Judge Mool Chand Garg and have a part-time member of Prasar Bharati Ashok Kumar Tandon and journalist Manoj Kumar Mishra as members.
PADMA shall perform functions laid down in sub-rules (4) and (5) of rule 12 for the purpose of redressing grievances related to the code of ethics under the rules.
It will also ensure that the member publishers have agreed to adhere to the provisions of the rules, including furnishing the requisite information under rule 18.

UNSC adopts first-ever resolution on Myanmar, demanding end to violence and release of political prisoners

The United Nations Security Council(UNSC) adopted its first resolution on Myanmar in 74 years to demand an end to violence and urge the military junta to release all political prisoners, including former leader Aung San Suu Kyi.

Myanmar has been in crisis since the army seized Suu Kyi’s elected government on Feb. 1, 2021, detaining her and other officials.
In the 15-member UNSC council for the Myanmar crisis, China, Russia and India denied the vote. The remaining 12 members voted in favor.
The resolution urges the junta to release detained prisoners, including Suu Kyi and former Myanmar president Win Myint.

TB Research Funding Trends 2005-2021: Funding for TB R&D Hits a Billion Dollars Worldwide in 2021

According to the Tuberculosis(TB) Research Funding Trends 2005-2021 released by Treatment Action Group (TAG) and the Stop TB Partnership, for the first time in history, funding of TB Research and Development (R&D) hits a billion dollars worldwide in 2021.

The Stop TB Partnership is a Geneva(Switzerland) based United Nations(UN)-a hosted entity that aims to end the disease by 2030.
The report highlights that despite reaching the USD 1 billion mark, funding for TB R&D is a mere fraction of what’s needed to achieve the UN’s sustainable development goal of ending TB as a pandemic by 2030.

Punjab & Sind Bank Partners with SBI Card to Launch Co-branded Credit Card

Punjab & Sind Bank (PSB), a public sector bank, has partnered with SBI Card to launch co-brand credit cards for the bank’s customers. This marks the entry of PSB into ‘credit cards’ as a new product segment under the bank’s portfolio.

Under the partnership, three card variants have been launched including, PSB SBI Card ELITE, PSB SBI Card PRIME, and PSB SimplySAVE SBI Card.

Key highlights:
i.The card was launched to cater for the spending needs of the customers of PSB with exclusive privileges.
ii.SBI Card ELITE and PSB SBI Card PRIME have been designed to offer lifestyle privileges and best in class experience to premium and mass premium customers, respectively.

PSB SBI Card ELITE will be offered at a joining fee of Rs. 4,999 plus taxes while PSB SBI Card PRIME will be offered at Rs. 2,999 plus taxes.

iii.PSB SimplySAVE SBI Card offers rewarding experience to value conscious customers through accelerated rewards and benefits on their spending. The card is offered at Rs. 499 plus taxes.
iv.Both PSB SBI Card ELITE and PSB SBI Card PRIME will be available on VISA platform and PSB SimplySAVE SBI Card on RuPay platform.

ADB Grants USD 100 million to SFL for Vehicle Loans to Women Entrepreneurs

Asian Development Bank (ADB) has sanctioned USD 100 million (about Rs 830 crore) External Commercial Borrowing (ECB), a five-year loan, under the lender’s social finance framework to Shriram Finance Limited (SFL), a part of Shriram Group to provide vehicle loans to women entrepreneurs.

The credit will be issued towards the purchase of new and used vehicles throughout India.

Key highlights:
i.The loan can be used for vehicle finance for commercial purposes for BS VI compliant vehicles and electric vehicles, especially for women entrepreneurs in under-developed states

This shall empower and promote the social and economic status of the underserved communities.

ii.Besides the ADB loan, Shriram Finance has also raised USD 250 million from US Development Finance Corporation and USD 475 million through a 144A Bond from the international market in 2022.
About Shriram Finance Limited (SFL):
In November 2022, Shriram Group’s entities – Shriram Transport Finance Company Limited, Shriram City Union Finance Limited and Capital Limited merged to form Shriram Finance Limited (SFL).
Chairman – Jugal Kishore Mohapatra
Headquarters – Mumbai, Maharashtra

IDBI Bank signs agreement to transfer schemes of IDBI Mutual Fund to LIC MF

The IDBI Bank has signed a Scheme Transfer Agreement (STA) with LIC Mutual Fund(MF) for the transfer of Schemes of IDBI Mutual Funds(MF) to LIC MF to comply with regulations 7B of Securities and Exchange Board of India (SEBI) Mutual fund Regulations.
Background:
LIC took over IDBI Bank, the sponsor of IDBI Mutual Fund, in January 2019.
LIC already has its own asset management company(AMC), LIC MF under SEBI Rules.

SEBI Rules restrict a single promoter to owning more than 10% stake in 2 asset management companies(AMCs) therefore, IDBI Bank-promoted IDBI MF had to be either sold or merged with LIC MF.
Since IDBI Bank, the parent of IDBI MF, is majority owned by LIC, the transfer is necessary.

Key Points:
i.Following this proposed scheme acquisition transaction the like-to-like schemes will be merged and the unique schemes of IDBI MF will continue on a stand-alone basis with the acquiring entity.
ii.The merger is expected to be completed in this quarter.
About IDBI Bank Limited:
Managing Director & Chief Executive Officer (CEO)– Rakesh Sharma
Established in 1964
Headquarters– Mumbai, Maharashtra

Tata AIA Life introduces Emerging Opportunities Fund with Ulips

Tata AIA Life Insurance has established the Emerging Opportunity Fund with ULIP (unit-linked insurance plans), which is able to invest in mid-cap companies and rising market leaders with the potential to provide significant future growth.
The applications for ULIP plans with New Fund Offering (NFO) window was open till 31 December 2022.

Tata AIA’s ULIP offerings like Fortune Pro, Wealth Pro, Fortune Maxima, and Wealth Maxima can be used to invest in the Fund.
Additionally, the Fund will be attached to Tata AIA’s Param Rakshak Solutions.
Up to 30% of the fund’s total assets may be allocated to equity and equity-related investments that are not in the mid-cap range.

Note: The Emerging Opportunities Fund is to strengthen the client’s portfolio and potentially generate long-term wealth.

Bank of Baroda Wins EAG Laureate Award on Financial Security

Bank of Baroda, the second largest public sector bank in India after State Bank of India (SBI), won EAG Laureate award in the International Olympiad of Financial Security held at Sochi, Russia on 10 October 2022.

India is one of the nine members of the Eurasian group on combating money laundering and terrorism (EAG), a regional organisation similar to the Financial Action Task Force (FATF).The EAG was established in 2004 and is currently an associate member of the FATF.
The Financial Action Task Force (FATF) is the global anti- money laundering and anti- terrorist financing body.

Note – The initiative of EAG was first announced by the Russian Federation at the Plenary Meeting of the FATF in October 2003.

IDBI Bank re-appoints Suresh Khatanhar as Deputy MD for a Year On 28th December 2022, the Board of Directors of IDBI Bank Limited re-appointed Suresh Kishinchand Khatanhar as the Deputy Managing Director (DMD) of IDBI Bank for 1 year with effect from 15th January 2023, according to the Reserve Bank of India (RBI)’s approval.
About Suresh Kishinchand Khatanhar:
i. Suresh Khatanhar started his banking career with Dena Bank and handled all HR-related work at the centralised HR department of the bank.
ii. Suresh Khatanhar joined IDBI Bank in 1997 from Dena Bank.

He joined IDBI Bank as a senior relationship manager. He served the organization in various capacities including as Chief General Manager (CGM) & head-internal audit, Chief Risk Officer and Chief Compliance Office.

iii. On 15th January 2020, the IDBI Bank Board appointed Suresh Khatanhar as DMD for a 3-year term.
iv. He has 37 years of experience in commercial banking, 25 of which he spent with IDBI Bank, where he was in charge of many different facets of commercial banking.
v. As a DMD, currently, he oversees Retail Banking, Priority Sector Lending, Structured Retail Advances, Credit cards, Third Party Distribution, Treasury, Centralised Operations, CMS & GBG, Corporate Communication, Retail Recovery, Audit, Legal and Compliance.
About IDBI Bank Limited:
IDBI Bank, one of the major state-owned banks in India, has more than 1,890 branches and 3,300 ATMs worldwide.
MD & Chief Executive Officer (CEO)- Rakesh Sharma
Headquarters- Mumbai, Maharashtra
Establishment- 1st July 1964

Indian Army Appoints Lt Gen Arvind Walia as its New Engineer-in-Chief

Lieutenant (Lt) General (Gen) Arvind Walia, a 1986 batch officer and an alumnus of the Indian Military Academy, Dehradun has been appointed as the next Engineer-in-Chief of the Indian Army. He succeeds Lt Gen Harpal Singh who is superannuating on 31st December 2022.

Earlier, Lt Gen Arvind Walia has commanded an independent squadron in the desert sector, a regiment in Jammu and Kashmir (J&K), an Engineer Brigade along the western front and has also commanded the MEG & Centre in Bengaluru, Karnataka.
He was an instructor at the College of Defence Management in Secunderabad and the National Defence College in Delhi.
He has also held several other positions including Brigade Major of a Mountain Brigade, Director in Engineer-in-Chief’s Branch at the Integrated Headquarters of Ministry of Defence (MoD) (Army), Brig Q in a Strike Corps and Chief Engineer of a Command.

Adani group acquires 27.26% equity stake held by NDTV founders Roys for over Rs 600 crore Prannoy Roy and Radhika Roy, founders of the news broadcaster, sold 27.26% of their equity in New Delhi Television (NDTV) to Adani-controlled Radhika Roy Prannoy Roy (RRPR) Holding Private Limited at Rs 342.65 (USD 4.1426) per share.

Based on the price acquired by Adani Group, the Roys would have received Rs 602.30 crore from the sale of 1.75 crore shares.

Note: On December 23, Prannoy Roy and Radhika Roy announced the sale of 27.26% out of their remaining 32.26% shareholding in the NDTV to the Adani Group.
Key Points:
i. The transfer of shares was done by way of inter-se transfer under the Securities and Exchange Board of India (SEBI) (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
ii. Vishvapradhan Commercial Private Limited, an indirect subsidiary of the corporation, owns an 8.27% equity share in NDTV, whereas RRPR (prior to the present acquisition) held a 29.18% equity share in NDTV.

After this acquisition, RRPR will own 56.45% of the company.

iii. On 30th December 2022, the transaction was finalised through the NSE’s (National Stock Exchange of India Ltd) block deal window, and the settlement is subject to exchange procedures and formalities.
iv. Adani Group indirectly acquired RRPR Holding Pvt Ltd in August 2022, which led to an open offer to buy a further 26% of NDTV.
About the New Delhi Television (NDTV):
Executive Co-Chairpersons- Dr Prannoy Roy & Radhika Roy
Headquarters- New Delhi, Delhi
Establishment- 1988
About the Adani Group:
Chairman- Gautam Adani
Managing Director (MD)- Rajesh Adani
Headquarters- Ahmedabad, Gujarat
Establishment- 1988

Pritzker-Winning Japanese Architect Arata Isozaki Passed AwayArata Isozaki, a Pritzker-Winning Japanese Architect, passed away at the age of 91 in Okinawa Island (Japanese Island). He was called a ‘post-modern giant’, who blended the culture and history of the East and the West in his designs.
About Arata Isozaki:
i. Arata Isozaki was born in Ōita, Island of Kyushu, Japan in 1931. He is known for his style that combines postmodernism and metabolism with technology.
ii. He started his career as an architect with an apprenticeship under the guidance of the 1987 Pritzker Prize Laureate Kenzo Tange.
iii. After the Allied occupation, in 1963, when Japan had reclaimed its independence, Arata Isozaki founded Arata Isozaki & Associates.
iv. His career started at a small scale, with numerous structures in his hometown and Fukuoka (Japan), swiftly spreading to Gunma, Osaka, and Tokyo in Japan.
v. His Significant works– the Ōita Prefectural Library (1962-1966 Ōita), Expo ’70 Festival Plaza (1966-1970 Osaka), the Museum of Modern Art, Gunma (1971-1974), and Kitakyushu Municipal Museum of Art, Fukuoka (1972-1974).
vi. He emerged as an international leader in architecture in the 1980s, with his 1st overseas commission, the Museum of Contemporary Art, Los Angeles (1981-1986 California, United States of America (USA)).
vii. With his 1st overseas commission, the Museum of Contemporary Art, Los Angeles (1981-1986 California, United States of America (USA)), he became a recognised figure in architecture in the 1980s.

His other notable international works included over 100 completed projects.

viii. In reaction to the fast rate of urbanisation, Arata Isozaki created City in the Air (1962 Tokyo, Japan), a futuristic design for Shinjuku that featured elevated tiers of structures, housing, and transportation suspended above the ageing city below.
Awards and Recognition:
i. In 1979, Arata Isozaki was appointed to the 1st Pritzker Prize Jury and continued on as a member for 5 additional years.
ii. In 1986, he received the Royal Gold Medal for architecture.
iii. He was an honorary member of the Royal Academy of Arts (1994), the American Academy of Arts and Letters (1998), and a member of the Japan Arts Academy (2017).
iv. In 2019, Arata Isozaki won the Pritzker Architecture Prize, internationally the highest honour in the field.

Prime Minister Narendra Modi’s Mother Heeraben Passes Away

On 30th December 2022 Prime Minister (PM) Narendra Modi’s mother Heeraben passed away at the age of 100 in Ahmedabad, Gujarat. Mamata Banerjee, Pakistan’s PM Shehbaz Sharif, All India Majlis-E-Ittehadul Muslimeen (AIMIM) Chief Asaduddin Owaisi and others expressed condolences over the demise of PM Modi’s mother Heeraben.

Historian Simon Sebag Montefiore discusses his new book “The World” with Author Manu S. Pillai

Simon Sebag Montefiore, a British historian, discussed his recent book “The World: A Family History” in an interview with an Indian historian Manu S. Pillai. In the book, Simon Sebag Montefiore explores how people and families have played a role in the convergences and divergences in world history.

In an interview with historian Manu S. Pillai, he discusses why it is his most difficult yet most satisfying project.
The two-part book was originally published on 27th October 2022, published by Hachette India.

The Cabinet of Assam headed by Himanta Biswa Sarma, Chief Minister (CM) of Assam approved the proposal for the grant of industrial status to the tourism sector in Assam.
With industry status, restaurants, cafeterias, health clubs, spas and wellness centres among others are eligible for incentives under the industrial policy. This will encourage and boost private investment in the above areas of the tourism sector

With industry status, fresh investments in tourism infrastructures will contribute to rapid employment generation, public-private partnership and infrastructure development.
This aims for sustainable and environmentally friendly investment besides capital formation and the creation of gainful employment.

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Current Affairs – 1 April 2023

April 2, 2023 by QUIZWAY

MoD signs contracts worth Rs 19,600cr to acquire NG-OPVs & NGMVs for IN; Rs 9,100cr contracts for improved AWS & 12 WLR Swathi for IAi.On March 30, 2023, the Ministry of Defence (MoD) signed contracts with Indian shipyards for acquisition of 11 Next Generation Offshore Patrol Vessels (NG-OPVs) and 6 Next Generation Missile Vessels (NGMVs) at an overall cost of approx. Rs 19,600 crore for Indian Navy (IN) to boost ‘Aatmanirbharta’ in defence.
ii.The contract for NG-OPVs was signed with Goa Shipyard Limited (GSL) and Garden Reach Shipbuilders and Engineers (GRSE), Kolkata (West Bengal), at a total cost of Rs 9,781 crore. It was signed under Buy {Indian-IDDM (Indigenously Designed, Developed and Manufactured)} category.
iii.MoD signed contracts for procurement of improved Akash Weapon System (AWS) and 12 Weapon Locating Radars, WLR Swathi (Plains) for Indian Army (IA) at an overall cost of over Rs 9,100 crore.
About Ministry of Defence (MoD):
Union Minister– Rajnath Singh (Constituency- Lucknow, Uttar Pradesh)
Minister of State– Ajay Bhatt (Constituency- Nainital-Udhamsingh Nagar, Uttarakhand)

Himachal Pradesh’s Kangra tea gets European GI Tag

On 29th March 2023, Himachal Pradesh’s Kangra Tea got a European Union(EU) Geographical Indication Tag (GI Tag). This will offer an opportunity for the Kangra tea to enter the European Market.
About Kangra Tea:
i.Kangra tea is a type of tea that is grown in the Himachal Pradesh region of India. Since 1999, the cultivation and development of the kangra tea have been improved in the Kangra region(‘Valley of Gods’) of Himachal Pradesh.
ii.Kangra tea is grown 900-1,400 meters above sea level with the annual rainfall being 270-350 centimeter (cm), on the slopes of the Dhauladhar mountain range in the Western Himalayas.
iii.The demand of Kangra tea has been increasing and it is being exported to Kabul and Central Asia via Peshawar.

The Kangra tea received the Indian GI tag in 2005.

About GI Tag:
i.Geographical indications (GIs) are Intellectual Property (IP) Rights(IPR) is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a definite geographical territory.

European GI tag protects agricultural products and foodstuffs; spirit drinks; wines; and aromatised wines.

ii.The GI Tag provides assurance of quality and distinctiveness, which is essentially attributable to the place of its origin.
iii.Once a product gets a GI tag, any person or company cannot sell a similar item under that name.
iv.This tag is valid for a period of 10 years following which it can be renewed.

Home Minister Amit Shah inaugurates Development Works in UK & Sardar Vallabhbhai Patel Memorial in Bidar, Karnatakai.On March 30, 2023, the Union Minister Amit Shah, Ministry of Home Affairs (MHA) was on a visit to Uttarakhand (UK) to inaugurate development works viz. Computerization of UK’s Multipurpose Primary Agricultural Credit Cooperative Societies (MPACS), Joint cooperative farming, Jan Suvidha Kendras and Janaushadhi Kendras in Haridwar, UK.
ii.On March 26, 2023, Home Minister Amit Shah unveiled the statues of Lord Basaveshwara ji and Nadaprabhu Kempegowda ji at the State Assembly premises in Bengaluru, Karnataka.
iii.He also inaugurated Gorata Martyr Memorial and Sardar Vallabhbhai Patel Memorial and also unfurled the 103 feet high tricolor at Gorata ground in Bidar, Karnataka
About Ministry of Home Affairs (MHA):
Union Minister – Amit Shah (Gandhi Nagar Constituency, Gujarat)
Minister of State (MoS) – Nityanand Rai (Ujiarpur, Bihar); Ajay Kumar Mishra (Kheri, Uttar Pradesh); Nisith Pramanik (Coochbehar, West Bengal)

Lok Sabha amends Competition Act 2002; CCI to penalise Tech MNCs for Global Revenue

On 29th March 2023, Lok Sabha, the lower house of Parliament, approved the amendments of the Competition Act, 2002, that seek to cover global deals by digital multinational companies (MNCs) under local laws.

The Competition (Amendment) Bill, 2022 was after Finance Minister Nirmala Sitharaman moved as many as 13 official amendments to the Bill.

Following the amendment, the Competition Commission of India (CCI) will now have the power to impose penalties on MNCs for violations based on their international revenue.

The Competition (Amendment) Bill, 2022 aims to regulate transactions made by international digital companies, provided that the entities involved have a strong business presence in India.
The amendments also provide for the settlement of minor violations.

Other Details of the Bill:
i. The amendments propose introducing a deal value threshold as a condition to regulate mergers and combinations.

According to the bill, entities are expected to seek approval from the Competition Commission if the deal value exceeds Rs 2000 crore and if both companies (acquiring and the target) have substantial business operations in India.

ii. Control in the target company is an important consideration that affects CCI’s clearance.
iii. ‘Material influence’ has now been defined by the government as the basis for control in the most recent amendment to the Competition Act.
iv. A settlement mechanism is now being implemented under the Act to decrease litigation and allow easier dispute resolution.
v. According to the Competition Act, companies engaging in anti-competitive practices might face monetary penalties from the Competition Commission.
vii. The bill aims to reduce various procedural timelines for merger approval to facilitate quicker merger approval.
About the Competition Commission of India (CCI):
Acting Chairperson- Sangeeta Verma
Headquarters- New Delhi, Delhi
Establishment- 14th October 2003 (Operational from 2009)

EU Removes Pakistan From List of High-Risk Third-Country JurisdictionsThe European Commission of the European Union(EU) has removed Pakistan from its list of High-Risk Third-Country Jurisdictions, this move is expected to improve the conditions of business activities in Pakistan.

Following the deletion, Pakistan will no longer be subjected to enhanced EU scrutiny which includes credit and financial institutions, auditors, external accountants, tax advisers, notaries and independent legal professionals, among others.

Background:
i.In December 2022, the European Commission updated its list of High-Risk Third-Country Jurisdictions presenting strategic deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) regimes.

Following the update, Democratic Republic of the Congo, Gibraltar, Mozambique, Tanzania and the United Arab Emirates, were added to the list while Pakistan along with Nicaragua and Zimbabwe were delisted.

ii.The updated list accounted the information from the Financial Action Task Force (FATF) and the changes over 2022 in the FATF list of “Jurisdictions under Increased Monitoring”.
Note: FATF removed pakistan along with Nicaragua in October 2022 following the implementation of their respective action plans agreed with the FATF.
Key Points:
i.The Ministry of Commerce, Government of Pakistan annoucned that Pakistan was added to the list of High-Risk Third-Country in 2018 which resulted in creating a regulatory burden affecting the Pakistan based companies that are doing business with the members of EU(27 countries).
ii.The delisting of Pakistan will ease the cost and time of legal and financial transactions by Pakistan entities and indivuals in EU.
High-Risk Third-Country:
i.According to the EU, The high risk third countries list includes countries that do not have a robust enough regulatory and legal system to prevent financial crimes and terrorism.
ii.Countries added on the list are subjected to enhanced scrutiny and additional measures that increase the cost of doing business.
About European Union:
The European Union is an international economic and political alliance of 27 member countries.
The EU was formed by the Treaty Of Maastricht, which took effect on November 1, 1993.

19 member countries uses euro as their official currency.

Headquarters – Brussels,Belgium

SEBI Board Meeting (March 2023): Significant Takeaways from 16 Major DecisionsThe Securities and Exchange Board of India (SEBI) took a number of decisions at its board meeting on March 29, 2023, with the goal of protecting investors’ interests and bolstering the market infrastructure to handle disruptions.
The 16 Major Decisions and Their Implications include:
i. Balanced Framework for ESG Disclosures, Ratings and Investing
ii. Establishing a regulatory framework for Environmental, Social and Governance (ESG) Rating Providers in Securities Market by introducing a new chapter in the SEBI (Credit Rating Agencies) Regulations, 1999.
iii. ASBA -like facility for trading in Secondary Market: Option to investors
iv. Upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) to mitigate credit risk on intermediaries
v. Amendments to Stock Brokers Regulations to institute a formal mechanism for prevention and detection of fraud or market abuse by stock brokers.
vi. Introduction of Regulatory Framework for Index Providers
About the Securities and Exchange Board of India (SEBI):
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
Establishment– 1992

Aditya Birla Health Insurance enters into bancassurance partnership with UCO BankAditya Birla Health Insurance Co Ltd (ABHICL), the health insurance joint venture of Aditya Birla Capital Ltd. (ABCL) inked a bancassurance partnership with UCO Bank, for the distribution of its health insurance products.

This partnership will enable ABHICL to utilize UCO Bank’s widely distributed network of 3,164 branches and reach out to more than 40 million customers of the bank across India.

Key Points:
i.With this association, UCO Bank’s customers and employees will have access to ABHICL’s comprehensive suite of health-first insurance solutions like incentivized wellness benefits of up to 100% Health Returns and chronic management program, Day-1 cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness and counselling on mental health.
ii.With the UCO Bank partnership, ABHICL now has 17 bancassurance partners with over 80,000 direct selling agents, across India.
About UCO Bank:
MD & CEO– Soma Sankara Prasad
Headquarters– Kolkata, West Bengal
Tagline– Honours your Trust

Ambit Finvest, SKALEUP join hands for Digital Lending Platform for MSMEs Ambit Finvest has partnered with SKALEUP, the digital technology services arm of Bajaj Finserv Direct, to develop a D2C (direct-to-customer) instant loan application to give business loans to MSME (Micro, Small & Medium Enterprises) business owners through a completely paperless and automated digital onboarding process.

The platform will oversee a wide variety of processes and services offered by Ambit Finvest, along with multiple products. It will be capable of handling complex workflows that involve sales, underwriting, and operations.

Key Points:
i.SKALEUP’s Creditech solution is a low-code/no-code digital platform that enables data-driven decisions.
ii.Ambit Finvest is the NBFC (Non-Banking Financial Company) of the Ambit Group and has served over 50,000 MSME business owners and disbursed more than Rs 3,500 crore in loans.

In January 2023, Ambit Finvest acquired the MSME business of SME Corner (a digital lender operating under the trade name Digikredit Finance and registered with the Reserve Bank of India (RBI) as an NBFC).

iii.Bajaj Finserv Direct is a subsidiary of Bajaj Finserv.
About Ambit Finvest:
CEO– Sanjay Agarwal
Headquarters– Mumbai, Maharashtra
Tagline– Pragati Ke Partner

AMNS Luxembourg Holding signs USD 5 billion loan agreement with consortium of Japanese banksAMNS Luxembourg Holding S.A., the parent company of ArcelorMittal Nippon Steel India Limited (“AM/NS India”), has entered into a USD 5 billion “JBIC co-financing loan” agreement with a consortium of Japanese banks.

The banks that make up the Japanese banking consortium are: The Japan Bank for International Cooperation (“JBIC”), MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank Limited, Mizuho Bank Ltd., and Mizuho Bank Europe N.V.

‘AM/NS India’ is the 60/40 steelmaking joint venture in India operated by Nippon Steel Corporation (“Nippon Steel”) and ArcelorMittal (“AM”).
Key Points:
i.The proceeds from the JBIC co-financing loan will be utilized to finance a portion of the funds for AM/NS India’s new construction and expansion of upstream, hot rolling, and other facilities.

It will help AM/NS India increase its annual steelmaking capacity at its Hazira plant from 9 million tonnes to 15 million tonnes.

ii.Upon receiving environmental clearances, the expansion project, which began in October 2022, will generate more than 60,000 employment.
iii.“AM/NS India” is currently the fifth-largest producer of crude steel in India.

With these measures to increase its capacity, Nippon Steel intends to meet the rising demand in the Indian market and maintain its market position.

About Nippon Steel Corporation (“Nippon Steel”):
President – Eiji Hashimoto
Headquarters – Tokyo, Japan

Godrej Capital & SBI signs MoU to offer Banking Products & Services

Godrej Capital Limited, the financial services arm of the Godrej Group, and State Bank of India (SBI) have signed a Memorandum of Understanding (MoU) to strengthen their partnership, where the bank would provide various financial products and offerings.

Godrej Capital and SBI will work together to increase the affordability and accessibility of financial products, unlocking opportunities for financial inclusion.

SBI aims to capitalise on synergies that will empower its customers and accelerate the growth of its economy.

SBI will also focus on delivering financial solutions to the Godrej group.

The partnership leverages the advantages of both groups by facilitating a range of financial services provided by the bank such as banking products, credit cards, wealth management and insurance products as preferred partners.

Axis Bank partners with Shriram Housing Finance for Co-Lending

On 30th March 2023, Axis Bank, the third largest private sector bank in India, and Shriram Housing Finance Limited (SHFL) announced a partnership under the co-lending model through the Yubi Co.Lend platform.

Through this partnership, the lenders will each provide secured home loans and MSME (Micro, Small and Medium Enterprise) loans to borrowers in the middle and low-income segments based in rural and semi-urban areas.
The collaboration will make use of the technological platform, Yubi to efficiently process loans according to the co-lending guidelines.

MoC&I Released FTP 2023: India aims for increase exports to USD 2 trillion by 2023On 31st March 2023, The Ministry of Commerce and Industry(MoC&I), Government of India(GoI), released the Foreign Trade Policy (FTP) 2023 which aims to increase India’s exports to USD 2 trillion by 2030 by shifting from incentives to remission and entitlement based regime.

Union Minister Piyush Goyal, (MoC&I) released the FTP 2023 during an event held in New Delhi, Delhi.
The FTP 2023 is set to become effective from 1st April 2023.

Abut FTP 2023:
Unlike the usual 5 year-FTP, the FTP 2023 does not have an end date and it will be updated as and when needed.

The previous FTP came into force on 1st April 2015 and was later extended in the wake of COVID-19 pandemic and the subsequent disruption in economic activities.
The last extension was given in September 2022 till 31st March 2023.

About Ministry of Commerce and Industry(MoC&I):
Union Minister– Piyush Goyal(Rajya Sabha- Maharashtra)
Minister of State(MoS)- Som Parkash (Constituency- Hoshiarpur, Punjab) and Anupriya Patel(Constituency- Mirzapur, Uttar Pradesh)

Aaliya Mir becomes First J&K Woman to Receive Wildlife Conservation AwardAaliya Mir, a wildlife conservationist working for India-based charity Wildlife SOS, has been honoured with the Wildlife Conservation Award for 2023 by the administration of the Union Territory (UT) Jammu and Kashmir (J&K), for her conservation efforts in the region.

She becomes the first Woman from J&K to receive the Wildlife Conservation Award.
The Award carries a cash prize of Rs 25000 and a Momento.

She received the award from Manoj Sinha, Lieutenant Governor of J&K, on the International Day of Forests (21st March 2023) event held by the Department of Forest, Ecology and Environment of the J&K government.

She was recognised for her efforts spanning diverse aspects of wildlife conservation, which include the rescue and release of wild animals, treatment of injured animals, human-wildlife conflict mitigation and managing 2 bear rescue centres in Kashmir.

About Aaliya Mir:
i. Aaliya Mir has been associated with Wildlife SOS since 2002. She started as a volunteer and then began undertaking diverse projects in J&K.
ii. She is the Programme Head and Education Officer at Wildlife SOS and Kashmir’s 1st female wildlife rescuer.
iii. She is primarily recognised for her work with snakes despite having rescued Asiatic black bears, Himalayan brown bears, birds, leopards, and other species.
iv. In 2021, Wildlife SOS launched a wildlife rescue helpline under the leadership of Aaliya Mir.
About Wildlife SOS:
Wildlife SOS is a non-profit organisation based in India that focuses on rescuing and rehabilitating wildlife. It was founded in 1995.
Chief Executive Officer (CEO) & Co-founder- Kartick Satyanarayan
Headquarters- New Delhi, Delhi

UAE President names Sheikh Khaled as Crown Prince of Abu Dhabi

On 29th March 2023, Sheikh Mohammed bin Zayed Al Nahyan (Known by his initials MBZ), President of the United Arab Emirates (UAE) and the ruler of Abu Dhabi, appointed his eldest son Sheikh Khaled bin Mohamed bin Zayed Al Nahyan as Crown Prince of Abu Dhabi (UAE),
Other Appointments:
i. President Sheikh Mohammed also appointed his brother Sheikh Mansour bin Zayed Al Nahyan as Vice President of the UAE.
ii. MBZ named his other brothers Sheikh Tahnoun bin Zayed Al Nahyan and Hazza bin Zayed Al Nahyan as deputy rulers of Abu Dhabi.
About Sheikh Khaled bin Mohamed bin Zayed Al Nahyan:
i. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan was born on 8th January 1982.
ii. He is a member of the Abu Dhabi Executive Council and Chairman of both the Abu Dhabi Executive Committee and the Abu Dhabi Executive Office.
iii. In 2016, Sheikh Khaled was appointed Head of National Security and in 2017, he was named Deputy National Security Adviser.
iv. He is a member of Abu Dhabi’s Supreme Council for Financial and Economic Affairs, and a member of the board of directors of Abu Dhabi National Oil Company (ADNOC).
v. Additionally, he serves as the head of several boards, including the Advanced Technology Research Council (ATRC), the UAE Genomics Council, and the Executive Committee of the board of directors of ADNOC.
About the United Arab Emirates (UAE):
President- Sheikh Mohammed bin Zayed Al Nahyan
Prime Minister- Sheikh Mohammed bin Rashid Al Maktoum
Capital- Abu Dhabi
Currency- United Arab Emirates Dirham

Tata Power re-appoints Praveer Sinha as CEO & MD for Four Years

Tata Power Company Limited (TATA Power), one of India’s oldest and largest integrated power utilities, re-appointed Praveer Sinha as its Chief Executive Officer (CEO) and Managing Director (MD) for 4 years with effect from 1st May 2023.

His current tenure as the CEO and MD of Tata Power will conclude on 30th April 2023.

On March 30, 2023, the Board of Tata Power approved the reappointment based on the proposal of the Nomination and Compensation Committee.
He is the chairman of the CII Western Region Council and co-chairs the CII National Committee on Power.
is a visiting research associate at the Massachusetts Institute of Technology (MIT), Boston, USA.

Rajib K Mishra takes over as Chairman and Managing Director of PTC India

On 29th March 2023, Dr Rajib K Mishra, a power market veteran with diverse experience in the sector, has taken over as Chairman and Managing Director (CMD) of PTC India Limited, the leading provider of power trading solutions in India, with an immediate effect.

Dr Rajib K Mishra joined PTC Board on 24th February 2015 as Director (Marketing and Business Development).
Prior to PTC India Limited, he was in charge of Operations, Business Development, Retail & Advisory Services while serving as Executive Director of PTC Inc. from October 2011.
He has professional experience spanning 30 years with PowerGrid, NTPC, and PTC India.

Scientists of ICAR Discovers New Moray Eel Species- Gymnothorax TamilnaduensisThe Indian Council of Agriculture Research (ICAR) scientists have discovered a Moray Eel fish of the Genus Gymnothorax collected from the trawl bycatch landings at Mudasalodai fish landing centre, off Cuddalore coast, Tamil Nadu, southeast coast of India.
It has been named after Tamil Nadu “Gymnothorax Tamilnaduensis” with a common name of “Tamil Nadu brown moray eel”.
Discovery Publication:
i. The discovery has been published in the latest issue of the international peer-reviewed journal “Zoosystematics and Evolution” on 23rd March 2023.
ii. The new species was discovered by researcher P. Kodeswaran, scientist G. Kantharajan, Principal scientist T.T. Ajith Kumar, Indian Council of Agricultural Research-National Bureau of Fish Genetic Resources (NBFGR), Anil Mohapatra of Estuarine Biology Regional Centre, Zoological Survey of India and Uttam Kumar Sarkar of NBFGR.
iii. The name of the fish species is registered in the Zoobank, the online registration system for the international commission on Zoological Nomenclature (ICZN).
About the Species:
i. The holotype of this new species has also been deposited at the National Fish Museum and repository of ICAR-NBFGR, Lucknow.
ii. This is the first record of the Gymnothorax genus ever found on the south-eastern coast of India, the Bay of Bengal, and was discovered during an exploration survey conducted along the coastal waters of Cuddalore.
iii. So far, Indian waters have been home to 28 different species of Gymnothorax.

The discovery brings the overall number of Gymnothorax species to 29.

iv. Four specimens were captured in nets about 80 to 100 feet underwater
v. Gymnothorax Tamilnaduensis is between 10 and 20 inches long and belongs to a class of enigmatic water creatures that are frequently discovered in crevices and holes.

It is now the 4th known species of short brown unpatterned moray eels.

Moray eels:
i. Moray eels or Muraenidae are a family of eels found in all tropical and subtropical seas, they live in shallow water among reefs and rocks.
ii. It can be found in both freshwater habitats and saltwater habitats.
iii. They are known for 2 types of jaws: one is regular (oral) jaws with big teeth and the second jaw is called the pharyngeal jaw (which drags prey inside the eel’s stomach).

International Transgender Day of Visibility 2023 – March 31International Transgender Day of Visibility is annually observed across the globe on March 31 to celebrate the achievements and contributions of transgender and gender-diverse people (TGD) around the world.
International Transgender Day of Visibility 2023 was observed on 31st March 2023.
Aim:
The day aims to raise awareness of the work that still needs to be done to eliminate discrimination and other barriers to inclusion within all aspects of society.
Flag:
i. Transgender flag is a tricolour pride flag with five horizontal stripes in light pink, light blue, and white.

The colour of the Transgender flag was proposed in 1999.

ii. It was designed by American trans woman Monica Helms to represent the transgender community, organizations, and individuals.
Background:
i. International Transgender Day of Visibility was founded by Rachel Crandall, the United States of America (USA)-based transgender activist in 2009.
Rachel Crandall is a psychotherapist and the executive director of Transgender Michigan, an organisation based in the US.
ii. The 1st ever International Transgender Day of Visibility was observed on 31st March 2009.

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