current affairs for ssc Archives

Current Affairs – 6 January 2023

April 2, 2023 by QUIZWAY

Cabinet Approvals on January 4, 2023On January 4, 2023, the Union Cabinet chaired by Prime Minister(PM) Narendra Modi approved the following proposals,
CCEA Approves Central Sector BIND Scheme with an Outlay of Rs. 2,539.61 Crore Up to 2025-26
The Cabinet Committee on Economic Affairs (CCEA) approved the Ministry of Information and Broadcasting (MIB) proposal for the Central Sector Scheme “Broadcasting Infrastructure and Network Development” (BIND) at a cost of Rs. 2,539.61 crores for the infrastructure development of Prasar Bharati (Akashvani), i.e., All India Radio (AIR) and Doordarshan (DD).
Cabinet approves National Green Hydrogen Mission worth Rs. 19,744 crore
The Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, has approved the Rs. 19,744 crore National Green Hydrogen Mission, with the objective of making India a major exporter in the sector and a global hub for the production, use, and export of green hydrogen and its derivatives.
Cabinet Approves Naming of Greenfield International Airport Mopa, Goa as ‘Manohar International Airport – Mopa, Goa’
The Union Cabinet, chaired by PM Narendra Modi, has accorded ex-post facto approval for the naming of Greenfield International Airport in Mopa, Goa, as “Manohar International Airport – Mopa, Goa.”
About SJVN Limited (formerly known as Satluj Jal Vidyut Nigam Ltd):
Chairman & Managing Director (CMD) – Nand Lal Sharma
Incorporated –1988
Headquarters – Shimla, Himachal Pradesh

President assents CrPC (Gujarat Amendment) Bill, 2021 that makes violation of Sec 144 Order an OffenceThe President of India Droupadi Murmu has given her assent to the Code of Criminal Procedure (Gujarat Amendment) Bill, 2021 which empowers the administration to register criminal cases against those who are staging protests in violation of Section 144 of the Code of Criminal Procedure (CrPC).
What is Section 144 of CrPC?
Enacted in 1973, Section 144 empowers the magistrate of any state or union territory in India to prohibit the assembly of four or more people so that law and order can be protected in an area.
Amendment:
The CrPC (Gujarat Amendment) Bill, 2021 amended Section 195 (1) (a) (ii) which prohibits the jurisdictional courts from taking cognisance of the offences except on the complaint in writing of the public servant concerned.

This means public servant issuing such orders is mandated to become complainant against the violators due to which officials hesitate to enforce the law.
The State Assembly of Gujarat passed the bill March 2022.

Key Points:
i.According to the bill, the breach of the magisterial order will be regarded as a cognisable offence under Indian Penal Code (IPC) Section 188 (disobedience to an order duly promulgated by a public servant), and a public authority can arrest an accused without a warrant.

The maximum punishment for violators under the Section 188 of the Indian Penal Code is 6 months jail.

ii.Before this amendment, the state (police) can only detain violators for a limited period of time
iii.Once this bill becomes law, the Gujarat government, police commissioners and district magistrates will be empowered to issue prohibitory orders, restricting any person from a certain act or for prevention of disturbance of public tranquillity or a riot or an affray to maintain public order on various occasions.
About Section 144 of CrPC:
i.As per the law, the Section 144 can be directed against a particular individual or persons residing in a particular place or area or to the general public.
ii.The order passed under Section 144 can remain in force only for two months from initiation of the order. It can be extended but not more than 6 months and have to reviewed thereafter.
iii.Violation of Section 144 is liable for a maximum of 3 years imprisonment.

World’s First Palm-Leaf Manuscript Museum opens in KeralaKerala Chief Minister(CM) Pinarayi Vijayan inaugurated the Palm leaf Manuscript Museum with modern audio-visual technology at the renovated Central Archives, Fort area in Thiruvananthapuram, Kerala.

The Museum, promoted as “World’s First Palm-Leaf Manuscript Museum” was set up by the Archives Department in association with the Kerala Museum of History and Heritage at a cost of Rs 3 crore.

Background:
i. The museum is a repository of curious nuggets of administrative, socio-cultural and economic facets of the Travancore kingdom which lasted for 650 years till the end of the 19th century.
ii. It had been the Central Vernacular Records Office since 1887 before becoming a museum.
Key Highlights:
i. The museum is a useful resource for historical and cultural studies for both academic and non-academic researchers.
ii. The museum has 8 theme-based galleries in the museum representing segments like, “History of Writing,” “Land and People,” “Administration,” “War and Peace,” “Education and Health,” “Economy,” “Art and Culture,” and “Mathilakam Records.”
iii. The museum stores 187 manuscripts at Central Archives and the department’s regional officers in Ernakulam and Kozhikode. The manuscripts span 6 centuries From 1249 CE to 1896.

It will be housed in the 6,000-sq ft museum which was arranged by the Kerala government’s nodal agency for museums Keralam–Museum of History and Heritage.

iv. The Museum houses manuscripts in ancient scripts such as Vattezhuthu, Kolezhuthu, Malayanma, and ancient Tamil and Malayalam.
v. The 1st phase’s archival material was selected after sorting through a stock of carelessly stored 1.5 crore palm-leaf records from all across Kerala.

President of India Droupadi Murmu’s Visit to Rajasthan from 3 to 4 January 2023Droupadi Murmu, President of India, inaugurated and laid foundation stone for various projects during her 2 day visit to Rajasthan from 3rd to 4th January 2023.

She inaugurated Samvidhan Udyan at Raj Bhavan, Jaipur and met with the member of the Particularly Vulnerable Tribal Groups’ Communities of Rajasthan.
She also virtually inaugurated the Transmission System for Solar Energy Zones in Rajasthan and laid the foundation stone for 1000 megawatt (MW) Bikaner Solar Power Project.
She also participated in the launch of a National Campaign on ‘RISE-Rising India through Spiritual Empowerment’, organized by Brahma Kumaris at Mount Abu.
She also inaugurated the 18th National Jamboree of the Bharat Scouts and Guides in Rajasthan.

About Rajasthan:
Chief Minister(CM)– Ashok Gehlot
Governor– Kalraj Mishra
Wildlife sanctuary– Sitamata Wildlife Sanctuary; Bassi Wildlife Sanctuary
Tiger Reserve– Sariska Tiger Reserve; Mukundara Tiger Reserve

Narayan Rane Virtually Inaugurates India Made ITRS at MOPA Airport, Goa

Narayan Rane, Union Minister for Micro Small & Medium enterprises (MSME) inaugurated an India made Intelligent Tray Retrieval System (ITRS), manufactured by M/s SJK Innovations Private Limited, an MSME-Make in India Company, at MOPA (Goa) International airport, officially renamed as Manohar International Airport, Mopa, Goa. This “Made in India” ITRS system is also “Patented in India”.
The ITRS is an Artificial Intelligence (AI) based fully automatic machine with advanced screening technology that helps in providing enhanced passenger security.

The machine is equipped with image analysis software with advanced tools for effortless screening and also contains a dedicated module for high threat baggage that needs immediate attention at the airport.

Highlights of EAM Dr. S. Jaishankar’s Visit to the Republic of Cyprus and Austria—December 29, 2022 –January 3, 2023Dr. Subrahmanyam Jaishankar, India’s External Affairs Minister (EAM), visited the Republic of Cyprus from December 29 – 31, 2022 and the Republic of Austria from December 31, 2022 -January 3, 2023.

The year 2022 commemorated the 60th anniversary of India-Cyprus diplomatic ties, which were established on February 10, 1962.

i.During his visit to Cyprus, EAM witnessed the signing of agreements in a number of fields, including Defence and Military Cooperation between India & Cyprus.
ii.It was his first visit to Austria as India’s EAM, and the first such visit from India in 27 years. The visit commemorated the 75 years of India’s diplomatic ties with Austria, which were established in 1949.
iii.During EAM Dr. S. Jaishankar’s visit to Vienna, Austria, India and Austria signed a number of agreements, including ones pertaining to mobility and migration and the Working Holiday Programme.
About International Solar Alliance (ISA):
Director General– Ajay Mathur
Established – 2015
Headquarters– Gurugram, Haryana

Issues related to cards, Net Banking Top Complaint Areas at OBO: RBI Reporti.On January 4, 2023, the Reserve Bank of India (RBI) released the Annual Report of the Ombudsman Schemes for the period April 01, 2021 – March 31, 2022. Its details are as follows:
ii.Issues related to ATM (Automated Teller Machine)/debit cards were the highest at 14.65% of the total received at the Office of Banking Ombudsman (OBO) during April 1 to November 11, 2021.

These were followed by mobile/ electronic banking at 13.64%.

iii.Complaints relating to the digital modes of payment and transactions were the highest in number, constituting 42.12% of the total complaints received during the year.
iv.The volume of complaints received under the Ombudsman Schemes/Consumer Education and Protection Cells during 2021-22 increased by 9.39% at 4,18,184 as compared to FY21.
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

Dhanlaxmi Bank launches Retail Internet Banking Services ‘DhanDelight‘ & Mobile Banking App ‘DhanSmart‘Dhanlaxmi Bank has launched its new retail internet banking ‘DhanDelight’, and retail mobile banking app ‘DhanSmart’ featuring latest information system security features to provide secure banking.

The new services are built on omni channel platform with multiple features covering various banking requirements.

Key Points:
i.In DhanDelight, latest UI (User Interface) and UX (User Experience) enable customers to do the financial transactions more securely.
ii.The mobile app, DhanSmart, also offers dark theme to improve visual ergonomics, reduce eye strain and helps in conserving battery power.
iii.The applications come with value-added features such as biometric authentication for mobile users, dash board for internet users, user defined themes, soft token for transaction authentication, credit card reports, online subscription of various social security and other schemes, online financial transactions and payments etc.
About Dhanlaxmi Bank:
Managing Director & CEO– Shivan J K
Headquarters– Thrissur, Kerala
Tagline– Tann Mann Dhan
Incorporated in 1927

IndusInd Bank Partners with British & Qatar Airways to Introduce Multi-branded Credit CardOn 5th January 2023, IndusInd Bank partnered with British Airways Executive Club and Qatar Airways Privilege Club to introduce the first-of-its-kind unique multi-branded credit card, powered by Visa.

This multi-branded credit card will be launched and made available to consumers in the first quarter of FY 2023-2024.

Key highlights:
i.The credit card will be available in the Infinite variant of Visa and offers best-in-class rewards along with multiple benefits that will elevate international travel experience of customers.
ii.Through this card, the customers are allowed to choose their preferred airline loyalty programme and select their preferred travel destination to collect maximum Avios, the rewards currency for British Airways Executive Club and Qatar Airways Privilege Club.

The card also offers various benefits suitable for the requirements of frequent travellers.
The customers can choose their preferred airline loyalty and preferred travel destinations while applying for the credit card.

About IndusInd Bank:
Managing Director (MD) & Chief Executive Officer (CEO) – Sumant Kathpalia
Headquarters – Pune, Maharashtra
Establishment – 1994

RBI: Annapurna Finance Private Applies for Universal Bank License

On 4th January 2022, the Reserve Bank of India (RBI) has received an application from Bhubaneswar (Odisha) based Annapurna Finance Private Limited (AFPL), formerly known as Annapurna Microfinance Private Limited, under the Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector issued on 1st August 2016.

AFPL was the only entity to apply for a universal bank licence during the quarter ended December 31, 2022.

Note – Under these guidelines large industrial houses cannot apply for bank permits. Also, eligible promoters need to have at least 10 years of experience in the financial sector.
In May 2022, RBI rejected applications from UAE Exchange and Financial Services Ltd, The Repatriates Cooperative Finance and Development Bank Ltd (REPCO Bank), Chaitanya India Fin Credit Pvt Ltd and Pankaj Vaish and others for setting up Universal Banks.

GST Revenues grow 15% to Rs 1.49 lakh crore in December 2022

India’s Goods and Services Tax (GST) revenues increased 15% year-on-year to Rs 1.49 lakh crore (USD 18.07 billion) in December 2022, suggesting robust economic activity during the holiday season.

The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods).
In December 2022, for the 10th consecutive month, the GST revenues exceeded Rs 1.40 lakh crore. The GST collections were about Rs 1.46 lakh crore in November 2022.

ISRO, Microsoft join hands to Empower Space-Tech Startups in IndiaOn 5th January 2023, the Indian Space Research Organisation (ISRO) and Microsoft India signed a Memorandum of Understanding (MoU) to support and promote the growth of space technology startups in India.

The MoU aims to empower Indian space tech startups with technology tools and platforms, go-to-market support, and mentoring to help them scale and become enterprise ready.
The government has opened up the space sector for private players. More than 100 active startups are based in India and work in the space-tech sector.

Key Points:
i. The partnership aims to strengthen ISRO’s vision of utilising the market potential of India’s most innovative and successful space tech businesses.
ii. Through this collaboration, the ISRO-identified space-tech firms will be added to the Microsoft for Startups Founders Hub platform, which supports startups at every stage of their development, from idea to unicorn.

Through Microsoft for Startups Founders Hub, space-tech startup founders in India will have free access to the tech tools, and resources they need to build and run their businesses.
This also includes technical support to build and scale on Azure, best-in-class developer and productivity tools including GitHub Enterprise, Visual Studio Enterprise, and Microsoft 365, and access to smart analytics with Power BI and Dynamics 365.

iii. In addition to providing technological access, Microsoft will coach space tech entrepreneurs in a variety of fields, including cloud technologies, product and design, funding, and sales and marketing.

They will also have access to Microsoft Learn for tailored startup-centric training content and programs.

iv. Microsoft and ISRO will also jointly organize knowledge-sharing and thought leadership sessions for the startups with space industry experts.
About Microsoft India:
President- Anant Maheshwari
Headquarters- Hyderabad, Telangana
Establishment- 1988

Assam Govt confers Assam State Civilian Award 2023; Dr Tapan Saikia receives ‘Assam Baibhav’The Assam government has announced the list of winners of the Assam State Civilian Award 2023 which honours notable people for their admirable service to society. A total of 21 personalities were chosen for the Assam State Civilian Awards 2023.
Renowned doctor Dr Tapan Saikia was honoured with the “Assam Baibhav” for his work in the healthcare (cancer treatment) and public service sectors, which included promoting early cancer detection in Assam and other northeastern regions.

The Assam State Civilian Award has 3 categories: Assam Baibhav Award, Assam Saurav Award and Assam Gaurav Award.
The 2023 awards includes, 1 Assam Baibhav; 5 Assam Saurav; and 15 Assam Gaurav.

List of Assam State Civilian Award 2023:

(Asom Baibhav)

(Asom Sourav)

(Asom Gourav)

About the Assam Civilian Awards:
i. The Government of Assam will present the Assam Civilian Awards on the same patterns as the Bharat Ratna and Padma Awards, the highest Civilian Awards of the Government of India, in the interest of public service and to recognise exceptional service or performance of the highest order in any field of human endeavour.

‘Assam Baibhav’ carries a cash prize of Rs 5 lakh.
‘Assam Saurav’ carries a cash prize of Rs 4 lakh.
‘Assam Gaurav’carries a cash prize of Rs 3 Lakh.

ii. The awardees will also get Free Medical Treatment in Government hospitals and stay in paying cabins and other facilities.

Belinda Clark becomes 1st Woman Cricketer to get a Bronze Statue at SCG

On January 5, 2023, Belinda Clark, a former Australia captain, became the 1st female cricketer to get a Bronze statue unveiled at the Walk of Honour of the Sydney Cricket Ground (SCG) in Sydney, Australia.

On the morning of Day 2 of the 3rd men’s Test Match between Australia and South Africa, the sculpture was unveiled by the Honorable Dame Quentin Bryce and the Premier of New South Wales, the Hon. Dominic Perrottet MP.
Belinda Clark is the 15th sportsperson and the 3rd woman to have a statue as part of the SCG sculpture project. The other two are sprinters Betty Cuthbert and Marlene Matthews.

Prasanna Kumar Motupalli appointed as Chairman & MD of NLC India Ltd

On 5th January 2023, Prasanna Kumar Motupalli appointed as Chairman and Managing Director (CMD) of the state-run NLC India Ltd (NLCIL), a Navratna Public Sector Undertaking (PSU)under the Ministry of Coal.

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Prasanna Kumar Motupalli till the date of his superannuation which is June 30, 2026.
Prior to this appointment, Prasanna Kumar Motupalli, Executive Director of NTPC Limited was working as the Managing Director of Gujarat State Electricity Corporation Limited (GSECL) on a deputation basis.

2023 Hyderabad E-Prix: Hyderabad to host India’s 1st ABB FIA Formula E World Championship RaceHyderabad, Telangana is set to host the 2023 Hyderabad E-Prix, India’s 1st ever ABB FIA (Federation Internationale de l’Automobile) Formula E World Championship race, all-electric motorsports, on 11th February 2023.

The 2023 Hyderabad E-Prix is round 4 of the 17 races for the 9th Season of the ABB FIA Formula E World Championship.
The 2022–23 ABB FIA Formula E World Championship marks the 9th Season Championship which will be organised between January and July 2023.

The race will be held at the new Hyderabad Street Circuit alongside Hussain Sagar Lake, Hyderabad, Telangana.
About Formula E World Championship:

Formula E is a showcase for the world’s most advanced e-mobility technologies that drive towards a more sustainable future. The championship is the first Net Zero Sport since its inception.
The first 3 races will be held in Mexico City (1st) and Riyadh (2nd & 3rd).

Note: The Gen3- the world’s fastest, lightest, most powerful and most efficient electric race car is coming to Hyderabad for the event.
Key Points:
i. Private firm Ace Nxt Gen is the official promoter of the Formula E Race in India in partnership with Formula E and the Telangana government.

The partnership between Ace Nxt Gen Formula E and the Government of Telangana is 4-year long and the championship will take place in India until 2026.

ii. The Hyderabad Street Circuit, a 2.830 km (1.758 mi) street circuit, is designed by Driven International, the firm responsible for the recent changes to the Yas Marina Circuit in Abu Dhabi.
iii. This is India’s 1st Street Circuit Car Racing which opened on 19th November 2022.
iv. A total of 11 teams with 22 cars would be racing in the Hyderabad E-Prix in their brand-new Gen3 Formula E cars, including some of the major racing companies.
v. The new Gen3 Formula E cars are capable of a top speed of 322 kmph (Kilometer per hour).
vi. McLaren and Maserati will be joining the Formula E grid, alongside competitors like Porsche, Jaguar, Nissan and the Indian team, Mahindra.
Note: The last international racing event hosted by India was in 2013 when the country hosted the Formula 1 Indian Grand Prix at the Buddh International Circuit, Greater Noida, Uttar Pradesh.
Click here for the 2023 Race schedule.

Global Family Day 2023 – January 1

Global Family Day, also known as World Peace Day, is annually observed across the globe on January 1 to promote the concept of harmony and unity in the world.
In 1999, UN members were given the chance to mark January 1 as “Global Family Day” officially.

The day aims to highlight the binding force of humanity despite the religious, cultural, and linguistic differences among people worldwide.
The day was started in 1997, when the United Nations General Assembly (UNGA) launched the International Decade for the Culture of Peace and Non-Violence for the Children of the World, with effect from the 1st day of the new millennium.

Cyclone Mandous: Govt Approves Rs 28.11 crore for AP Tobacco Farmers

Piyush Goyal, Union Minister of Commerce & Industry, approved Rs 28.11 crore to provide immediate relief to over 28,000 flue-cured Virginia (FCV) Tobacco farmers affected by Cyclone Mandous in Andhra Pradesh (AP). The fund extends a special interest-free loan of Rs 10,000 to each member of Tobacco Boards Growers Welfare Schemes, which shall benefit around 28,112 farmers under the Southern Regions (Southern Light Soil and Southern Black Soil) of AP.

The interest-free loan to the eligible FCV Tobacco farmers will be administered by the Tobacco Board, a statutory body under the Ministry of Commerce and Industry.
FCV tobacco is a major commercial crop grown in 10 districts of AP with an annual production of 121 m.kg (2021-22) grown in an area of 66,000 ha. Out of the total unmanufactured tobacco exports (excluding Tobacco Refuse), FCV tobacco exports accounted for 53.62 percent in terms of quantity and 68.47 percent in terms of value during FY 2021-22.

The name, ‘Mandous’, was suggested by the United Arab Emirates (UAE) in 2020 as a member of the World Meteorological Organisation (WMO).

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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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The Affair Season 1

(as of June 4, 2023 12:09 GMT +05:30 - )

Current Affairs – 4 January 2023

April 2, 2023 by QUIZWAY

MHA constitutes HPC Chaired by MoS Nityanand Rai to protect Ladakh’s Culture, Language & Employment The Ministry of Home Affairs (MHA) has constituted a 17-member High Powered Committee (HPC) to discuss measures for the protection of Ladakh’s unique culture, language and employment.

It will be chaired by Minister of State (MoS) Nityanand Rai, MHA.

Members:
Its members will include Ladakh Lieutenant Governor Radha Krishna Mathur, MP (Member of Parliament) Jamyang Tsering Namgyal, Chairmans of Leh and Kargil Hill councils, representatives of Apex Body Leh, Kargil Democratic Alliance and nominee officials of MHA.
Responsibilities of the committee:
i.To discuss the protections of Culture and Language considering the geographical location and strategic importance of Ladakh.
ii.To discuss the protections to land and employment for the people, inclusive development, employment generation, and measures related to empowerment of Ladakh Autonomous Hill Development Councils of Leh and Kargil.
Why is this protection required?
This development follows the months of protest in Ladakh over the protection of the rights of the Ladakhi people after the revocation of special status to Jammu and Kashmir (J&K) in August 2019 and the carving out of Ladakh as a separate Union Territory (UT).

After this, the civil society and political groups in Ladakh have been demanding inclusion under the 6th schedule of the Constitution.

About the 6th Schedule of the Constitution:
It protects tribal populations by providing autonomy to the communities through the creation of autonomous development councils which can frame laws on land, public health, and agriculture to protect land, employment and cultural identity of a particular state or UT.

As of now, 10 autonomous councils exist in Assam, Meghalaya, Tripura and Mizoram.

GoI Introduces National Geospatial Policy 2022 On 28th December 2022, the Ministry of Science and Technology (MoS&T) notified the ‘National Geospatial Policy, 2022’ for implementation with immediate effect. The policy was notified following the liberalising of the usage of geospatial data under the draft Geospatial Data Policy in February 2021.

The Government of India (GoI) has now defined a 13-year guideline for the growth of India’s geospatial data industry, including the creation of a national framework for using geospatial data to improve citizen services and other initiatives.

National Geospatial Policy 2022
i.The National Geospatial Policy, 2022 is a citizen-focused policy that aims to strengthen the geospatial sector to support national development, economic prosperity, and a growing information economy.
ii.The GoI proposes to establish an “Integrated Data and Information Framework” (IDIF) under which a “Geospatial Knowledge Infrastructure” (GKI) will be developed by 2030.
iii.The policy also calls for the establishment of a national apex body, the Geospatial Data Promotion and Development Committee (GDPDC).
About the Ministry of Science and Technology (MoS&T):
Minister of State (Independent Charge) – Dr. Jitendra Singh (Udhampur Constituency – Jammu and Kashmir)
Departments under MoS&T – Department of Biotechnology; Department of Science and Technology (DST) & Department of Scientific and Industrial Research (DSIR)

NCISM & CCRAS Launches ‘SMART’ Programme to Boost R&D in Ayurveda

On 2nd January 2023, The National Commission for Indian System of Medicine (NCISM) and the Central Council for Research in Ayurvedic Sciences (CCRAS) launched the SMART (Scope for Mainstreaming Ayurveda Research in Teaching Professionals) programme.

The programme aims to identify, support and promote innovative scientific research in priority healthcare research areas like Osteoarthritis, Iron Deficiency Anaemia, Chronic Bronchitis, Dyslipidemia, Rheumatoid Arthritis, Obesity, Diabetes Mellitus, Psoriasis, Generalised Anxiety Disorder, Non-alcoholic fatty liver disease (NAFLD) through Ayurveda colleges and hospitals.

The program was launched by Vaidya Jayant Deopujari, Chairman, NCISM and Prof. Rabinarayan Acharya, Director General, CCRAS in the presence of Prof. B. S. Prasad, President of Board of Ayurveda, NCISM and other senior officials.
NCISM and CCRAS are the institutes under the Ministry of AYUSH for regulating medical education and conducting scientific research respectively.

KMRC: India’s First Underwater Metro Services to be Operational by December 2023

The Kolkata Metro Rail Corporation (KMRC) announced that the East-West Metro Corridor project, India’s first underwater metro service, in Kolkata will be completed by December 2023. The 16.6 km corridor will run through the Hooghly river, connecting Howrah and Kolkata Sealdah railway stations including the north-south line of the Kolkata Metro at Esplanade. This will reduce the travel time from 90 minutes to 40 minutes.

The 520-metre-long tunnel under the river Hooghly is a part of Kolkata’s East-West Metro Corridor. The metro trains will take just 45 seconds to cross the 520-metre tunnel.
The tunnel is built at the cost of Rs 120 crore per kilometre. The completion cost of the East-West Metro Corridor Project has been estimated at Rs. 8,575 crore.

SBI, HDFC & ICICI Banks in the RBIs 2022 list of D-SIBsOn January 2, 2023, the Reserve Bank of India (RBI) released the 2022 list of Domestic Systemically Important Banks (D-SIBs) based on the data from March 31, 2022. In this, State Bank of India (SBI), ICICI Bank, and HDFC Bank kept the status as D-SIBs, under the same bucketing structure as in the 2021 list of D-SIBs.

D-SIBs are interconnected entities, whose failure can impact the whole of the financial system and create instability. They are also known s ‘too-big-to fail’ banks.

Highlight:
i.SBI will be in the 3rd bucket with an Additional Common Equity Tier (CET)- 1 requirement as a percentage of Risk Weighted Assets (RWAs) of 0.60%.
ii.ICICI Bank, and HDFC Bank will be in the 1st bucket with an Additional CET-1 requirement as a percentage of RWAs of 0.20%.
Table showing list of D-SIBs with Additional CET1 capital requirement:

Bucket

Banks

(as a percentage of RWAs)

It has to maintain an additional CET1 capital surcharge in India as applicable to it as a G-SIB, proportionate to its RWAs in India.

How D-SIBs are Selected and Assessed?

i.The D-SIBs will be selected by RBI based on the size of the bank as a percentage of GDP(Gross Domestic Product) i.e the banks having a size beyond 2% of GDP.
ii.The selected D-SIBs are assessed through the 4 indicators of Size, Interconnectedness, Lack of readily available substitutes or financial institution infrastructure, and
Complexity

HDFC Bank Partners with Microsoft as Part of its Digital Transformation JourneyHDFC Bank partnered with Microsoft for the next phase of its digital transformation journey and unlocked business value by transforming the application portfolio, modernising the data landscape and securing the enterprise with Microsoft Cloud.

HDFC Bank as a part of its Future Ready strategy is developing in-house IPs and also partnering with several companies including FinTechs’ to co-create technology IPs.

Yes Bank Partners with Microsoft to Transform Mobile Banking Experience
On 3rd January 2023 Yes Bank partnered with Microsoft to introduce the next generation mobile application (app) for providing personalised banking experience to its customers.
About Microsoft India:
President – Anant Maheshwari
India Country Manager – Ashutosh Gupta
Headquarters – New Delhi, Delhi
Establishment – 1990 (in India)

India Accelerator Partners with ICICI Bank & Infosys Finacle to Foster Start-Up EcosystemIndia Accelerator (IA), a seed-stage accelerator programme, has launched “i3 Launchpad,” which was developed in partnership with ICICI Bank and Infosys Finacle, which is part of EdgeVerve Systems, a wholly-owned product subsidiary of Infosys.
‘i3 Launchpad’ Program
“i3 Launchpad” is a programme that fosters and co-innovate with India’s start-up ecosystem.

Objective: To support a network of entrepreneurs on a quest to develop brands with global impact.
It is intended to assist start-ups in expediting their progress by utilising mentorship, resources, and opportunities from Infosys Finacle, ICICI Bank, and IA.

Key Points:
i.The i3 Launchpad programme accepts start-ups from all sectors of the economy.

It will admit two cohorts annually, with a target of 12 to 18 start-ups in each cohort.

ii.The first cohort will concentrate on the Fintech (Financial Technology), enterprise tech, Software as a Service (SaaS), PropTech (Property Technology), WealthTech (Wealth Technology), sustainability and GreenTech, and InsurTech (Insurance Technology) sectors.

A combination of both remote and in-person group learning sessions is available to founders.

iii.The collaboration among the IA, ICICI Bank, and Infosys Finacle will assist fintech start-ups to accelerate their growth and impact in an organised manner.
About India Accelerator (IA):
India Accelerator (IA) is India’s only mentorship-driven, Global Accelerator Network (GAN)-partnered programme that assists Startups in realising their full potential.
Founder & MD – Ashish Bhatia
Headquarters – Gurugram, Haryana
Founded – 2017

Niva Bupa Insurance inks Corporate Agency Pact with Sundaram Finance

Niva Bupa Health Insurance Company Limited (formerly Max Bupa Health Insurance Company), a standalone health insurer, has signed a Corporate Agency Agreement with Sundaram Finance Limited, a diversified financial services group.

According to the agreement, Sundaram Finance will provide a limited selection of Niva Bupa’s indemnity plans to an increasing range of its current and former clients.
As part of this agreement, Sundaram Finance will reach out to clients using its network of more than 640 locations across India.

Bandhan Bank launches ‘Jahaan Bandhan, Wahaan Trust’ campaign featuring Sourav Ganguly

On 3rd January 2023, Bandhan Bank launched its integrated marketing campaign ‘Jahaan Bandhan, Wahaan Trust’ featuring the Bank’s brand ambassador, cricketing legend, Sourav Ganguly.
The ‘Jahaan Bandhan, Wahaan Trust’ campaign was conceived by Leo Burnett Orchard, who was brought in as Bandhan Bank’s creative agency in August 2022.

The campaign emphasises the ‘trust’ that the brand has been able to earn in a span of seven years as a Bank and over the last two decades in the various avatars prior to the Bank.
The campaign uses the analogy of Ganguly’s career, who became the bank’s customer soon after the bank was launched 7 years ago.

Note: According to the company, this is the 1st time Bandhan Bank has appointed a pan-India brand ambassador.

India’s external debt at $610 billion in Q2 FY23; declines by $2.3 billionAs per the figures from the Ministry of Finance, India’s external debt stood at USD 610.5 billion in Q2 FY23 (July-September 2022) showing a decrease of USD 2.3 billion from Q1 FY23 (April to June 2022).

The external debt to GDP (Gross Domestic Product) ratio stood at 19.2% at the end of Q2FY23 as compared to 19.3% at end of Q1FY23.

Key Points:
i.Valuation gains were USD 10.6 billion.
ii.Excluding the valuation effect, the increase in external debt would have been USD 8.3 billion instead of a decrease of USD 2.3 billion at end Q2FY22 over end Q1FY22.
iii.At end Q2FY22, long-term debt (with original maturity of above one year) was placed at USD 478.7 billion, a decline of USD 8 billion over Q1FY22.
iv.The share of short-term debt (with an original maturity of up to one year) in total external debt increased to 21.6% at Q2FY22 from 20.6% in Q1FY23.
v.The United States (US) dollar denominated debt remained the largest component of India’s external debt, with a share of 55.5% at end of Q2FY22, followed by the Indian rupee (30.2%), Special Drawing Rights (SDR) (6.1%), yen (4.9%), and the euro (2.6%).

Granules India Partners with Greenko ZeroC for Green Molecule Solutions

Granules India Limited has entered a strategic partnership with Greenko Group, backed by GIC Holdings Pte Ltd, Abu Dhabi Investment Authority and Japan’s ORIX Corporation to collaborate for first-of-its-kind green molecule solutions. Both shall develop and promote built-in green pharmaceutical zones (GPZ) with a primary collaboration in Kakinada, Andhra Pradesh, mentioned in a regulatory submission from Granules.

Under the partnership, Greenko ZeroC will provide carbon free power and allow green hydrogen with varied chemical derivatives. Granules would utilise carbon free power and green hydrogen derivatives to provide worth added merchandise resembling DCDA, PAP, Paracetamol, Metformin, different APIs and intermediates.

BCCI Releases Names of India’s Best Players of 2022 in all 3 FormatsOn 31st December 2022, the Board of Control for Cricket in India (BCCI) released the names of the players who were the best performers of Team India across all 3 formats – One Day Internationals (ODIs), T20 and Test in 2022.
Team India’s Best Performers 2022:

Canara Bank MD & CEO L V Prabhakar Retires On 31st December 2022, Lingam Venkata Prabhakar, the Managing Director (MD) and Chief Executive Officer (CEO) of Canara Bank retired from his services, on attaining the age of superannuation.
About L V Prabhakar:
i. L. V. Prabhakar has over 34 years of extensive banking experience spanning a variety of fields.
ii. Before joining Canara Bank, he served as the Executive Director of Punjab National Bank (PNB) and was in charge of several verticals live Credit, Treasury and Human Resources of PNB.
iii. He also served as the Chairman of Canara Robeco Asset Management Co. Ltd, Canara HSBC OBC Insurance Company Ltd & Canfin Homes Ltd and the Chairman of the IBA Standing Committee on Payment Systems & Banking Technology.
iv. He is a member (Vice-President) of Governing Council of the Indian Institute of Banking & Finance (IIBF) & National Institute of Bank Management (NIBM).
v. By launching projects like the Stressed Assets Management Vertical and the Digitization of Trade Finance, he also played a crucial role in strengthening systems and processes.
vi. Also, he has held positions on the boards of PNB Housing Finance Limited, PNB Metlife India Insurance, and Everest Bank Ltd. of Nepal.
About Canara Bank:
Non-Executive Chairman- Vijay Srirangan
Headquarters- Bengaluru, Karnataka
Establishment- 1906
Tagline- Together we can

BharatPe CEO Suhail Sameer Steps Down & CFO Nalin Negi appointed interim CEOSuhail Sameer, the Chief Executive Officer (CEO) of BharatPe, a Fintech startup, has announced has resigned from the CEO position and will transition into strategic adviser with effect from 7th January 2023.

Nalin Negi, Chief Financial Officer (CFO) of BharatPe, is set to take over as the interim CEO of BharatPe.

BharatPe also revealed that the company has employed an “executive search firm” to help with succession planning and to help identify a new CEO.
About Suhail Sameer:
i. Suhail Sameer, who was previously CEO of the FMCG business at RP-Sanjiv Goenka Group, joined BharatPe in August 2020 as President.

He has been overseeing BharatPe’s operations ever since Co-Founder Ashneer Grover was ousted. In August 2021, Sameer was formally made the CEO of BharatPe.

ii. Suhail Sameer was the Founding Managing Director of CESC Ventures, where he built out the modern Ayurveda and Healthy snack brands.
iii. He was also an Associate Partner at McKinsey & Company where he led the Clean-tech practice for Asia.

He is an active investor in clean-label food and personal care and financial inclusion.

About Nalin Negi:
i. Nalin Negi joined BharatPe in August 2022 as the Chief Financial Officer (CFO).
ii. He brings to the table over 28 years of experience and business acumen. He has spent the last 15 years in banking and financial services, with stints at GE Capital Corporate Finance and SBI Cards and Payment Services Limited.
About BharatPe:
Chairman- Rajnish Kumar
Headquarters- New Delhi, Delhi
Establishment- 2018

BSE appoints Sundararaman Ramamurthy as MD and CEO

industry expert Sundararaman Ramamurthy has been appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of BSE Limited(formerly Bombay Stock Exchange) with effect from 4th January 2023, for a period of 5 years.

The post has been vacant since July 2021 after the MD & CEO of BSE Ashishkumar Chauhan left the post to join the National Stock Exchange of India Limited (NSE) as MD & CEO.

In November 2022, BSE got consent from the Securities and Exchange Board of India (SEBI) to appoint Sundararaman Ramamurthy as MD and CEO of BSE.
Sundararaman Ramamurthy has worked with NSE for around 2 decades and he has also worked at the Industrial Development Bank of India (IDBI).

CJI DY Chandrachud launches E-SCR Project for Digital Version of Judgments Reported in SCThe Chief Justice of India (CJI) Dhananjaya Yashwant (DY) Chandrachud launched the Electronic Supreme Court Reports (E-SCR) project to provide free access to about 34,000 judgements of SC to lawyers, law students and the common public.

This project is an initiative to provide the digital version of the SC’s judgments in the manner as they are reported in the official law report i.e. SCRs.
The project has been launched as a tribute to the nation in the New Year.

Developers:
A search engine comprising elastic search techniques in the database of e-SCR was developed by the SC along with the National Informatics Centre (NIC), Pune (Maharashtra).
Key Points:
i.The verdicts of SC will be available on the SC website, its mobile app and on the judgement portal of the National Judicial Data Grid (NJDG).
ii.As of now, the judgements delivered till January 1, 2023, were made available.
iii.Under this project, all judgements will be placed online within 24 hours.
iv.Neutral citations will also be introduced. A committee comprising three judges viz. Justice Rajiv Shakdher of the Delhi High Court, Justice Raja Vijayaraghavan of the Kerala High Court and Justice Suraj Govindraj of the Karnataka High Court – have been constituted to work on the process of neutral citations.

Delhi and Kerala High Courts were already using the neutral citation.
Note – Under neutral citation, a unique number will be uploaded for every judgment to ease the search for orders and judgments.

v.This project is a step forward towards the objective of digitization of the Indian Judiciary and bringing in a positive change for the benefit of all the stakeholders of justice.

Gaganyaan: India’s 1st Atmanirbhar human space flight to be launched by 2024

On 1st January 2023, Dr Jitendra Singh, Union Minister for Science and Technology, announced that the Indian Space Research Organisation (ISRO) is ready to launch India’s 1st Atmamirbhar human flight “Gaganyaan” by the year 2024.

There will be two preliminary launches in 2024. The 1st will be unmanned, and in the 2nd launch, the robot will be there as a human replica. On the third launch, humans will be sent into space.
If the 2 tests are a complete success, it is reported that humans will travel for the 3rd time.

World Boxing Council to Create Transgender Category

The World Boxing Council (WBC), one of the four governing bodies for Boxing, will introduce a transgender category from 2023 to ensure safety and inclusion. .

Previously, WBC banned trans-identified males from competing against women. Woman-to-man or man-to-woman transgender change will not be allowed to fight a different gender by birth.
A ‘at birth rule’ will be used, which means a transgender boxer who is registered as male at birth will be allowed to fight others who have also been registered as male at birth and same for female boxers too.
The WBC will not sanction a new championship or title belt but will create an event for the transgender fighters to take part in the boxing sport.

Siddheshwar Swamiji seer of Sri Jnanayogashrama in Karnataka Passed away

On 2nd January 2023, noted spiritual leader Siddeshwar Swami, the seer of Sri Jnanayogashrama in Vijayapura, Karnataka, who was known for his scholarly discourses and powerful oratory, passed away in Karnataka at the age of 81.

Siddeshwar Swami hailing from Bijjaragi in Vijayapura, Karnataka, spent over 67 years as a monk.
Siddeshwar Swami is often referred to as the “Walking God of North Karnataka”. He was also fondly known as Buddiji.
He was a Lingayat priest and saint at Sri Jnana Yogashram in Vijayapura, Karnataka.

Shashi Tharoor’s Latest Book “Ambedkar: A Life” Launched

Renowned Author Shashi Tharoor, Member of Parliament (MP – the Lok Sabha – Thiruvananthapuram, Kerala), has launched his latest book “Ambedkar: A Life”, a biography of Babasaheb Bhimrao Ramji Ambedkar at the Kitaab Kolkata Event, which was organised by the Prabha Khaitan Foundation (PKF) at the ITC Sonar presented by Shree Cement.

The book is published by Aleph Book Company, and promoted by Rupa Publications India.
Shashi Tharoor won the Sahitya Akademi Award 2019 for “An Era of Darkness: The Britsh Empire in India”.
He is also a recipient of several awards that include a Commonwealth Writers Prize and the Pravasi Bharatiya Samman, India’s highest honour for overseas nationals.

Defence Minister Rajnath Singh Inaugurates Siyom Bridge in Arunachal Pradesh; Dedicates 28 BRO Infrastructure Projects Worth Rs. 724 CroreOn January 3, 2023, Union Minister Rajnath Singh, Ministry of Defense (MoD), dedicated to the nation 28 infrastructure projects of the Border Roads Organization (BRO) worth Rs. 724 crores in seven bordering States/Union Territories (UTs), during an event held at the Siyom Bridge along the Along-Yinkiong Road in Arunachal Pradesh.

The Siyom Bridge, which is crucial from a strategic perspective, was physically inaugurated during the event, while the other projects were virtually dedicated to the nation.

The 28 Infrastructure Projects of BRO
i.The projects include 22 bridges, including the Siyom Bridge, three roads, and three other projects in seven bordering States/UTs in the Northern and North-Eastern region.

These projects are distributed as follows: Eight in Ladakh, Five in Arunachal Pradesh, Four in Jammu and Kashmir, Three each in Sikkim, Punjab & Uttarakhand, and Two in Rajasthan.

ii.Three telemedicine nodes—two in Ladakh and one in Mizoram—were also virtually inaugurated by the Defence Minister.
About the Border Roads Organization (BRO):
Director General Border Roads (DGBR) – Lieutenant (Lt.) General Rajeev Chaudhary
Established – 1960
Headquarters – New Delhi, Delhi

Of these, six UAE based companies and the UP government have inked MoUs totaling Rs. 18,590 crore, which will result in the creation of almost 20,000 new job opportunities.

i.Renewable Energy (RE) Sector: Astha Green Energy Venture and Shree Siddharth Infratech & Services will each invest Rs. 4,480 and Rs. 8,000 crore in the RE sector, creating 2,560 and 4,800 jobs, respectively.
ii.Logistics Park Sector: Sharaf Group and Hindustan Port have decided to invest Rs. 1,300 and Rs. 210 crore, respectively, in UP, creating 1,500 and 1,000 jobs.
iii.The Lulu Group would invest Rs. 4,500 crores in the retail and food processing sectors, resulting in the creation of 10,000 employment opportunities.
iv.Sobha Realty has agreed to invest Rs 100 crore in education and corporate social responsibility (CSR), providing employment for 250 people.
Key Points:
i.Eight teams from the UP government visited 16 countries in advance of the UPGIS 2023, and received investment bids totaling more than Rs 7.12 lakh crore.
ii.The United States of America (USA) and the United Kingdom (UK) have offered the majority of investment bids totaling Rs. 4 lakh crore.
Note: On January 5, 2023, domestic road shows will begin in nine of India’s largest cities under the leadership of UP Chief Minister (CM) Yogi Adityanath.
About the United Arab Emirates (UAE):
President – Sheikh Mohamed bin Zayed Al Nahyan
Capital – Abu Dhabi city
Currency – Arab Emirati Dirham (AED) [called Dirhams]

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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 30-03-2023

March 30, 2023 by QUIZWAY

EPFO Marginally Increases Deposit Interest Rate to 8.15% for FY23The Central Board of Trustees (CBT), the apex decision-making body of the Employees’ Provident Fund Organisation (EPFO), has proposed a new interest rate of 8.15% for Provident Fund deposits for the current fiscal year 2022-23 (FY23), to nearly 6 crore subscribers.

This proposed interest rate (8.15%) is 0.05 % higher than the 8.10% interest rate of FY22, which is the lowest in four decades.

This is the first increase in the Employees’ Provident Fund (EPF) interest rate since 2018-19, when it was lifted to 8.65% from 8.5% previously.
i.The EPFO is expected to have a principal amount of Rs. 11.02 lakh crore, and an income of Rs. 90,497.57 crore for FY23, which is the highest recommended income so far.

This is substantially greater than the income of Rs. 77,424.84 crore and the principal of Rs. 9.56 lakh crore in FY22.

About Employees’ Provident Fund Organisation (EPFO):
i.EPFO is a social security organisation that provides social security benefits through provident, pension, and insurance funds.
Chief Executive Officer(CEO) – Neelam Shami Rao
Headquarters – New Delhi, Delhi
Establishment – 1952

ICAR & World Bank issue Delhi Declaration on modernisation of Agricultural Education System The Indian Council of Agricultural Research (ICAR) and the World Bank jointly issued the Delhi Declaration on Modernisation of Agricultural Education System in alignment with the National Education Policy(NEP) during the valedictory session of the International Conference on Blended Learning Ecosystem for Higher Education in Agriculture 2023(ICBLE 2023) held in New Delhi, Delhi.
i.The 3-day ICBLE 2023, first of its kind initiative to promote blended learning initiatives in agricultural higher education, was organised jointly by the ICAR and World Bank from 21st to 23rd March 2023 at Bharat Ratna C. Subramaniam Auditorium, National Agricultural Science Complex(NASC), New Delhi, Delhi.
ii.On 21st March 2023, Narendra Singh Tomar, Union Minister of Agriculture and Farmers Welfare inaugurated the conference and launched the Blended Learning Platform for higher education in agriculture.

The platform was developed by ICAR as a part of the World Bank-funded project.

About the Indian Council of Agricultural Research (ICAR):
ICAR is an autonomous organisation under the Department of Agricultural Research and Education ( DARE ), Ministry of Agriculture and Farmers Welfare(MoA&FW).
Director General– Himanshu Pathak
Headquarters– New Delhi, Delhi

PFRDA Increases Ombudsman’s Upper Age Limit to 70 Years from 65 YearsAccording to the notification dated 27th March 2023, the Pension Fund Regulatory and Development Authority (PFRDA) has amended the PFRDA (Redressal of Subscriber Grievance) Regulations 2015 and increased the upper age limit of the Ombudsman from 65 to 70 years.

The amended regulations are called the “Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) (Amendment) Regulations, 2023”.
The amended rules come into force on the date of the publication of the official gazette.

Note:
According to the PFRDA (Redressal of Subscriber Grievance) Regulations 2015, the upper age limit for the ombudsman was 65 years.
About Ombudsman:
i.The Ombudsman is an official appointed by PFRDA who receives, considers and facilitates the resolution of complaints or grievances, which fall within the ambit of the regulations.

Ombudsman is a Swedish word meaning “legal representative.”

ii.The appointed ombudsman holds the office for a period of 3 years. The ombudsman is also eligible for reappointment for another 2 years.
Additional info:
With effect from April 1, 2023, PFRDA has made the mandatory upload of withdrawal and KYC documents to enable seamless processing of exit and annuity payments for the benefit of National Pension System (NPS) subscribers.
About Pension Fund Regulatory and Development Authority (PFRDA):
PFRDA was established by the Government of India on 23rd August 2003
Chairman– Deepak Mohanty
Headquarters – New Delhi, Delhi

Odisha declares Gandhamardan Hill as Biodiversity Heritage SiteThe Forest, Environment and Climate Change Department, Government of Odisha has issued a notification declaring the Gandhamardan Hill Range in Bargarh and Balangir district as a Biodiversity Heritage Site (BHS).

Following this, an area of 18,963.898 hectares of Gandhamardan Hill (Gandhamardan Reserve Forest) including 12,431.8 ha (Bargarh) and 6,532.098 ha (Balangir) is declared as BHS of Odisha.
This is the 3rd BHS of Odisha after Mandasuru Gorge in Kandhamal district and Mahendragiri Hill Range in Gajapati district.
The designation was made in accordance with Rule 20(2) of the 2012 Odisha Biodiversity Regulations and Section 37 of the Biodiversity Act.

Threat:
The rich biological resources in Gandhamardan Hill range are under pressure due to various human activity(anthropogenic) such as pollution and climatic factors and the traditional ecological knowledge associated with the bio-resources of the hill is declining.
Significance of Gandhamardan Hill:
The Gandhamardan Hill is considered a treasure trove of medicinal plants and an Ayurvedic paradise of Odisha.
This ecosystem, with rich floral and faunal diversity, has a diverse socio-economic, ecological and biological significance for the people of Odisha.
Flora:
The region houses around 1,055 plant species which includes 849 angiosperms(Flowering plants), 56 pteridophytes, 40 bryophytes, 45 lichens and two gymnosperms(seed-producing plants) and 63 species of macrofungi.
Fauna:
The region houses around 500 species of animals which includes 43 mammals, 161 birds, 44 reptiles, 16 amphibians, 118 butterflies, 27 dragonflies and 7 damselflies and 83 species of spiders.
Note: Ficus conccina var dasycarpa (angiosperm) and Peucetia harishankarensis (Spider) are endemic to this hill.
Monuments:
The region houses 2 historical monuments

Nrusinghanath Temple located on the northern slope
Harishankar Temple situated on the southern slope of the foot hills of Gandhamardan.

The 2 hill shrines are major pilgrimage sites of Odisha.
Hiuen Tsang had described the hill shrine as a Buddhist heritage site named Parimalagiri.
Bauxite mining:
i.Bauxite reserve in the region was planned for exploration by the state government through a private venture.
ii.In 1980s, then public sector Bharat Aluminium Company Limited (BALCO), now under the control of Vedanta Group, had almost started mining of bauxite from Gandhamardan.
iii.Later the mining proposal was stopped following people’s protest against mining.

Government extends PAN-Aadhaar linking deadline to June 30, 2023

On 28th March 2023, the Ministry of Finance (MoF) informed that the Central Board of Direct Taxes(CBDT) has extended the deadline to link Permanent Account Number (PAN) with Aadhaar from 31st March 2023 to 30th June 2023.

According to Sub-section (2) of section 139AA to Income-tax Act 1961, it is mandatory for every person who has been allotted a PAN as of 1st July 2017 to intimate his Aadhaar Number so that the Aadhaar and PAN can be linked.
According to the MoF, as of 28th March 2023, more than 51 crore PANs have already been linked with Aadhaar.

IAF Participated in “Exercise Cobra Warrior” for The First Time

India made its maiden participation in “Exercise Cobra Warrior”, which was conducted at the Waddington Air Force Base of the Royal Air Force (RAF) in the United Kingdom (UK) from March 6–24, 2023.

Along with India, Finland and Saudi Arabia have also made their maiden appearances in the exercise.

An Indian Air Force (IAF) contingent of 145 Air Warriors took part in the exercise with five Mirage 2000 fighters, two C-17 Globemaster III aircraft, and an IL-78 midair refueller aircraft.
Exercise Cobra Warrior
i.The RAF of the UK hosts the largest multilateral air exercise, Exercise Cobra Warrior, twice a year.

Participants: RAF and the IAF, as well as air forces from Finland, Sweden, South Africa, Saudi Arabia, Belgium, the United States of America (USA), and Singapore.

ii.The aim of the exercise is to participate in a range of fighter aircraft encounters and learn from the top strategies employed by other air forces.
iii.This exercise included high-intensity, large-force, and tactical air warfighting operations.
iv.The RAF provided Surveillance, Multi-Engine Tactics, Qualified Weapons Instructor Courses, Qualified Space Instructor Courses, and other training during the exercise.

Japan commits Rs 7,084cr for Three Infrastructure Projects in Indiai.On March 28, 2023, Japan has committed Rs 7,084.5 crore to India for three infrastructure projects viz. one each in Patna (Bihar), West Bengal, and Rajasthan.
ii.Notes in this regard were exchanged between Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs (DEA) and Suzuki Hiroshi, Japan Ambassador to India.
iii.The Infrastructure Projects are Patna Metro Rail Construction Project (I), Rajasthan Water Sector Livelihood Improvement Project (II), and Forest and Biodiversity Conservation for Climate Change Response in WB.
About Japan:
Prime Minister– Fumio Kishida
Capital– Tokyo

NPCI recommends up to 1.1% interchange fee on UPI transactions of over Rs 2,000 via PPIs i.From April 1, 2023 onwards, the National Payments Corporation of India (NPCI) will impose an interchange fee upto 1.1% will be levied on merchant transactions made through prepaid payment instruments (PPIs) such as wallets or cards, that use the Unified Payments Interface (UPI).
ii.The charge will be applicable on payments exceeding Rs 2,000, made to online merchants, large merchants and small offline merchants.
About National Payments Corporation of India (NPCI):
MD & CEO– Dilip Asbe
Headquarters– Mumbai, Maharashtra

PSBs wrote off Rs 91,000 cr in 9 months of FY23According to data presented in the Rajya Sabha as a written answer by the Union Minister Nirmala Sitharaman, Ministry of Finance Public sector banks (PSBs) have written off around Rs 91,000 crore in first 9 months of FY23.

In this, State Bank of India on the top (Rs 17,356 crore) followed by Union Bank of India (Rs 16,497 crore) and Bank of Baroda (Rs 13,032 crore).

Key Points:
i.All the scheduled commercial banks (PSBs, private banks and foreign banks) wrote-off around Rs 1.61-lakh crore worth of loan in FY18. Recovery from written off accounts was less than Rs 13,000 crore or around 8% of bad debts taken off from the book in FY18

For next four fiscal, the percentage rose to 10.8, 12.8, 14.9 and 19.4 per cent, respectively.

ii.During all these five years, total amount in written off loan accounts was over Rs 10 lakh crore, while recovery was over Rs 1.3-lakh crore. This means net written off amount was around Rs 8.7-lakh crore.

Argentine-American Mathematician Luis Ángel Caffarelli honoured with The Abel Prize 2023On 22nd March 2023, the Abel Prize for Mathematics was awarded to Luis Ángel Caffarelli, an Argentine-American mathematician and an expert in “partial differential equations” which can explain phenomena ranging from how water flows to population growth, at the University of Oslo, Norway.

Luis Caffarelli, a 74-year-old professor at the University of Texas, was honoured for his seminal contributions to regularity theory for nonlinear partial differential equations.

Luis A Caffarelli is the 26th Abel Prize Laureate and he is the 1st Latin American mathematician to receive the award.
Highlights:
i. Norway’s King Harald V will present the Abel Prize to Luis Caffarelli at an award ceremony in Oslo on 23rd May 2023.
ii. In 2022, the prize was won by American mathematician Dennis Sullivan for his research into topology and chaos theory.
About Luis Ángel Caffarelli:
i. Luis Caffarelli was born in Buenos Aires, Argentina, in 1948. He currently holds the Sid Richardson Chair at the University of Texas at Austin, Texas, United States of America(USA).
ii. He also has been a professor at the University of Minnesota(United States of America-USA), the University of Chicago(Illinois), and the Courant Institute of Mathematical Sciences at New York University(USA).
iii. Luis Caffarelli’s other awards include the 2005 Rolf Schock Prize, the American Mathematical Society’s 2009 Steele Prize for Lifetime Achievement, the 2012 Wolf Prize, the 2013 Solomon Lefschetz Medal, and the 2018 Shaw Prize.
About the Abel Prize:
i. The Abel Prize, named after the Norwegian mathematician Niels Henrik Abel (1802–1829), was established by the Norwegian Parliament (The Storting) in 2002, on the occasion of the 200th birth anniversary of Niels Henrik Abel.
ii. The award carries a cash prize of 7.5 million Norwegian Krone (USD 710,000).
iii. The Prize is awarded by The Norwegian Academy of Science and Letters, on behalf of the Ministry of Education.

Lalit Kumar Gupta named as CMD of Cotton Corporation of India

The Appointments Committee of the Cabinet (ACC) chaired by Prime Minister (PM)Narendra Modi, has approved the appointment of Lalit Kumar Gupta as Chairman and Managing Director (CMD) of Mumbai(Maharashtra)-based Cotton Corporation of India (CCI) with effect from the date of his assumption of charge of the post for a period of 5 years, or till the date of his superannuation, or until further orders, whichever is the earlier.
CCI is a Public Sector Undertaking (PSU) under the Ministry of Textile

The order of the appointment was issued by the Department of Personnel & Training (DoPT), Ministry of Personnel, Public Grievances and Pensions.
Public Enterprises Selection Board (PESB) panel recommended Lalit Kumar Gupta for the post of CMD of CCI.

Lalit Kumar Gupta has a very long association with CCI, about 25 years. He joined CCI in August 1994. He is also a member of the Institute of Company Secretaries of India (ICSI).

NIC developed the “Maaptol Grievance” app to facilitate the Registration & Redressal of Consumer GrievancesThe National Informatics Centre (NIC), under the Ministry of Electronics and Information Technology (MeitY), has developed a mobile software application called “Maaptol Grievance” to facilitate online registration and time-bound redress of consumer grievances connected to the Legal Metrology Act and rules framed under it.

The Weights and Measurements Department, Government of National Capital Territory of Delhi (GNCTD), provided the contents that were published on this application.
The application mainly provides eGovernance Services delivery and intends to provide better citizen services by the government.

Key Points:
i. The Weights and Measures Department of the Delhi government must attend to the settlement of the grievances lodged on the app in a time-bound manner, within two working days (48 hours).
ii. Any consumer can use this software application to file a complaint with the government’s Weights & Measures Department.

If the department of Weights & Measures discovers any violations involving goods that are being sold or distributed by weight, measure, or number, or any shortcoming in the mandatory declarations on packaged goods and commodities according to the provisions of the Legal Metrology Act, 2009 and rules made thereunder.

iii. Categories of the Grievances:

Deficiency in mandatory declarations by manufacturer or packer or importer on packaged goods; overcharging; short supply of goods or commodities; the short weight of Liquefied Petroleum Gas(LPG) in the gas cylinder; short supply of petrol or diesel by a petrol pump; short supply of Compressed Natural Gas(CNG) by a CNG pump outlet; and weighbridges.

About the National Informatics Centre (NIC):
Director General- Rajesh Gera
Headquarters- New Delhi, Delhi.
Establishment- 1976

Dr M A Hasan’s book titled “War and Women” launched at UNHRC, Geneva

On 24th March 2023, a book titled “War and Women” authored by Dr M A Hasan was released during the 52nd Session of the United Nations Human Rights Council (UNHRC) at the United Nations(UN) building in Geneva, Switzerland.

In this book, Dr M A Hasan documented the magnitude of torture and killings committed by the Pakistan Army during the 1971 Bangladesh Liberation War.

Freedom Fighters of the Bangladesh Liberation War and Executive members from International Non-Governmental Organizations(NGOs) were present at the book launch.
Tazul Islam, a Bangladesh freedom fighter based in Zurich, Switzerland, is the Chief guest of the launching ceremony.

World Piano Day 2023 – March 29World Piano Day is annually observed across the globe on the 88th day of the year(mostly falls on the 29th or 28th of March), which is the same as the number of keys on the piano, intending to celebrate the Piano, an acoustic, keyboard, stringed percussion instrument.

Piano Day aims to create a community platform to bring together piano players from all around the world.

World Piano Day 2023 was observed on 29th March 2023.

World Piano Day 2022 was observed on 29th March 2023.
World Piano Day 2024 will be observed on 28th March 2023.

Background:
i. The idea of Piano Day was initiated by German Pianist/composer/producer Nils Frahm.
ii. The 1st ever World Piano Day was observed on 29th March 2015.
History of Piano:
i. The Piano was invented by Bartolomeo Cristofori (1655-1731), a musical instrument maker, from Padua, Italy.
ii. In the year 1700, Bartolomeo Cristofori is credited with replacing the plucking mechanism with a hammer to create the modern piano.
iii. The piano was initially called ‘gravicembalo col piano e forte,’ which means “soft and loud harpsichord.”

Assam Rifles Commemorates 188th Raising Day – 24th March 2023 On 24 March 2023, Assam Rifles, the most decorated Para Military Force of India, celebrated its 188th Raising Day at its Laitkor Garrison, Shillong, Meghalaya, and also its various formation and Units in the North East and Jammu and Kashmir (J&K).

G Kishan Reddy, Minister of Tourism, Culture and Development of North East Region graced the Assam Rifles’ Raising Day 2023 celebrations as chief guest.
G Kishan Reddy along with Lt Gen P C Nair, Director General of Assam Rifles paid homage to the martyrs of the Force at the War Memorial in Shillong, Meghalaya.

Background:
Assam Rifles was raised on 24th March 1835. It has done yeoman service to India and contributed immensely to bringing peace to the North East states.

Assam Rifles is often referred to as the “Friends of the Hill People” and the “Sentinels of the North East”.
It is the oldest paramilitary force in India whose primary role is to protect part of India’s Northeastern border.

Key Highlights:
i.During 2022-23, 3 battalions received the Chief of the Army Staff Unit Citation and 5 Battalions received General Officer Commanding-in-Chief Unit Citation.
ii. Personnel of the force have also been decorated with 1 Shaurya Chakra, 7 Sena Medals, and 411 Presidential & Governors Medals.
iii. The force has excelled in Sports by winning 6 medals in International Games (Gold-1, Silver-1& Bronze-4), National Games (Gold-17, Silver-17& Bronze-15) and All India Police Duty Meet Shooting Competition(AIPDM) (Gold-31, Silver-25 & Bronze-26) in 2022-23.
About the Assam Rifles:
Director General- Lt Gen Pradeep Chandran Nair
Headquarters- Shillong, Meghalaya
Establishment- 1835

West Bengal CM Mamata Banerjee launches Flagship Road ‘Pathashree-Rastashree’ ProjectOn 28th March 2023, Mamata Banerjee, Chief Minister(CM) of West Bengal(WB), launched “Pathashree-Rastashree” in Singur, WB. Pathashree-Rastashree is a flagship project of the government of WB to strengthen road infrastructure and enhance connectivity to villages by constructing 12,000 km of roads in 22 districts of WB.
Background:
On 15th February 2023, the “Pathashree-Rastashree” project was announced by Chandrima Bhattacharya, Minister of Finance of West Bengal, while presenting the Budget in the West Bengal Legislative Assembly.
Pathashree-Rastashree:
i. Under the Pathashree-Rastashree project,West Bengal will get 7,219 new roads and 1,548 roads will be upgraded. Over 29,475 villages across all gram panchayats will be covered by roads.
ii. A total of Rs 3282.75 crore in state funding would be used for the entire project.
iii. The total number of roads approved in the scheme is 8767. Nearly 30,000 villages will benefit from the project.
About West Bengal:
Chief Minister- Mamta Banerjee
Governor- Jagdeep Dhankhar
National Park- Sundarban National Park; Jaldapara National Park
Wild Life Sanctuary- Chapramari Wildlife Sanctuary; Mahananda Wildlife Sanctuary

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