MoCF MinisterMansukhMandaviya launches National Policy and PRIP Scheme for Pharma-MedTech sectori.On September 26, 2023, Union Minister Dr. Mansukh Mandaviya, Ministry of Chemicals and Fertilizers (MoC&F) launched National Policy on Research and Development (R&D) and Innovation in the Pharma-MedTech Sector in India; and Scheme for Promotion of Research and Innovation in PharmaMedTech (PRIP) Sector during an event in New Delhi, Delhi. ii.The policy aims to promote R&D in pharmaceuticals, including traditional medicines, phyto-pharmaceuticals, and medical devices. iii.The Department of Pharmaceuticals has introduced the PRIP scheme with a budget of Rs. 5,000 crores, aiming to shift the Indian pharmaceutical sector towards innovation-driven growth by enhancing research infrastructure. About Ministry of Chemicals and Fertilizers (MoC&F): Union Minister– Dr. Mansukh Mandaviya (Rajya Sabha- Gujarat) Minister of State (MoS)– Bhagwanth Khuba(Constituency- Bidar, Karnataka)
Ministry of Tribal Affairs Launches ‘Amazon Future Engineer Programme’ for EMRSs National Education Society for Tribal Students (NESTS) under the Ministry of Tribal Affairs launched Phase II of the ‘Amazon Future Engineer Programme’ in 54 Eklavya Model Residential Schools (EMRS) spread across Andhra Pradesh, Gujarat, Madhya Pradesh, Odisha, Rajasthan and Telangana.
The second phase would include an Advanced Block Programming and Artificial Intelligence(AI)curriculum in addition to coding, logical sequencing, learning loops, and block programming.
The program covers students from class six to class 9 by offering fundamentals of computer science to the fundamentals of AI respectively.
Phase I was launched on 2022 in collaboration with Amazon India and Learning Links Foundation (LLF), and has trained over 7,000 students from grades six to eight on the fundamentals of computer science and block programming modules.
Additional Info:
Anil Kumar Jha, Secretary of the Ministry of Tribal Affairs has inaugurated the EMRS Coders Expo in New Delhi, Delhi. It is an exhibition of the top 20 Coding Projects of the students from EMRS.
Anil Kumar Jha also inaugurated a 3-day workshop in Delhi to train EMRS teachers in the revised module.
Chainalysis’s Global Crypto Adoption Index 2023; India Tops Among 154 NationsAccording to the 2023 Global Crypto Adoption Indexreleased by Chainalysis, a crypto-analysis firm, India has topped the index (rank 1), with a score of 1.0, among 154 countries. Previously, India was ranked 4th in the 2022 index.
Nigeria and Vietnam stands at second and third rank with the index score of 0.642 and 0.568 respectively.
This is the 4th annual Global Crypto Adoption Index. The first edition of the Index was published in 2020.
Centralized service value
Retail centralized service value
Peer-to-Peer (P2P) exchange trade volume
DeFi (decentralized finance) value
Retail DeFi value
Methodology: The index ranks 154 countries based on characteristsic like population size and purchasing power, take the geometric mean of each country’s ranking in all five, and then normalize that final number on a scale of 0 to 1. India’s rank in sub-index: i.The country ranked first in four parameters including centralized service value, retail centralised service value, DeFi value and Retail DeFi value. ii.India ranked 5th in sub index P2P exchange trade volume. Government Interference: i.This comes even as crypto trading and investing in India has subdued due to taxation rules introduced by the government.
With 30% tax on gains, India has also introduced 1 per cent Tax Deducted at Source (TDS) on crypto trades.
ii.India is also advocating for worldwide crypto legislation, at the G20 Summit hosted by India. Note:The report also said that low-income countries saw a dramatic uptick in crypto adoption following a slump in late 2022, spurred by the collapse of the FTX(one of the world’s largest cryptocurrency exchanges). About Global Crypto Adoption Index: i.The report combines on-chain data and real-world data to measure which countries are leading the world in grassroots crypto adoption. ii.The report aims to highlight the countries in which common people who use crypocurrency. iii.The report has divided countries into several regions such as – (1) Central & Southern Asia and Oceania, (2) Sub-Saharan Africa, (3) North America, (4) Eastern Europe, (5)Latin America, (6) Eastern Asia, (7)Middle East & North Africa and (8)Central, Northern, & Western Europe Additional info: Central & Southern Asia and Oceania (CSAO) region dominates the index, with six of the top ten countries located in this region.
Yudh Abhyas 23: 19th Edition of India-US Joint Military Training Exercise Began in USA Exercise Yudh Abhyas 23, the 19th edition of the annual joint military training exercise between Indian Army and the United States Army is being conducted in Fort Wainwright, Alaska, the United States of America (USA).
This is a 14-day-long exercise which began on 25th September 2023 is set to culminate on 8th October 2023.
The theme of Yudh Abhyas 23 is ‘Employment of an Integrated Battle Group in Mountain/ Extreme Climatic Conditions’ under Chapter VII of United Nations(UN) mandate. Note: The 18th edition of the Indo-US joint military exercise “Yudh Abhyas 22” was held at Auli in Chamoli district, Uttarakhand (India) from 16th November to 2nd December 2022. Participants: Indian Army contingent comprising of 350 personnel and 1-24 Infantry Battalion from the 1st Brigade Combat Team of the US Army is participating in the exercise.
The lead battalion from Indian side is affiliated to MARATHA Light Infantry Regiment.
Highlights: i.The Exercise will entail exchanging best practices and enhancing interoperability to mutually learn from each other & strengthen the bond between the two Armies. ii.A Command Post Exercise and Expert Academic Discussions on selected topics will also form part of the exercise. iii.The scope of Field Training Exercise includes
Validation of Integrated Battle Groups against hostile forces at the Brigade level
Integrated Surveillance Grid at the Brigade/ Battalion level
Employment of Heliborne/ Airborne elements and Force Multipliers
Validation of logistics and casualty management during operations
Evacuation and combat medical aid and other aspects as applicable to High Altitude Areas and Extreme Climatic Conditions.
Significance: i.Both sides will engage in a series of tactical drills to enhance interoperability in conducting United Nations(UN) peacekeeping operations. ii.Additionally, the personnel from both countries will also hold detailed discussions to share their experiences and best practices.
Poonawalla Fincorp Gets RBI’s Approval to Issue Co-Branded Credit Card with IndusInd BankPoonawalla Fincorp Limited has received Reserve Bank of India(RBI)’s approval to issue co-branded credit card with IndusInd Bank Limited.
Poonawalla Fincorp Limited(formerly known as Magma Fincorp) is an Non-Banking Finance Company (NBFC) belonging to Cyrus Poonawalla group.
Key Points: i.The co-branded credit card is designed offer benefits to the customers with a favourable credit history.
The credid card is set to be launched within 3 months.
ii.This partnership paves ways for Poonawalla Fincorp to enter credit card segment. iii.The entire process of credit card will be 100% digital. What is Co-branded Credit Card? Co-branded credit cards are the product of a mutual partnership between a particular merchant and a credit card issuer. This will provide merchant-specific benefits to brand-loyal consumers. About Poonawalla Fincorp Limited: Poonawalla Fincorp was established in 1989 as Magma Fincorp Ltd. It was renamed as Poonawalla Fincorp Limited in July 2021 following the acquisition of controlling stake by Sun Holdings Private Limited. Chairman – Adar Poonawalla Headquarters – Pune. Maharashtra About IndusInd Bank Limited: Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia Headquarters – Mumbai, Maharashtra Established in – 1994 Tagline – We Make You Feel Richer
REC & PNB sign MoU to Co-Finance Infrastructure Project Debts worth Rs 55,000crOn September 26, 2023, a Memorandum of Understanding (MoU) has been inked between the REC Limited (Formerly Rural Electrification Corporation Limited) and Punjab National Bank (PNB)for collaboration to hunt potential funding opportunities in the Power Sector and Infrastructure & Logistics Sector through a consortium arrangement.
Both entities jointly provide financing worth Rs. 55,000 crores over the next 3 years.
Note: REC Limited is a Non-Banking Finance Company (NBFC), focusing on power sector financing and development across India. Signatories: It was signed by T.S.C Bosh, Executive Director (Infra & Logistics), REC Limited; and Rajeeva, CGM (Corporate Credit Division), PNB in Gurugram, Haryana. Key Points: i.REC provides long term loans and other finance products for Power-Infrastructure sector comprising of Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Green Hydrogen etc. ii.PNB, one of the largest Public Sector Banks (PSB) in India funds infrastructure projects too along with banking. Additional info: i.REC Limited is venturing to expand its loan portfolio for green projects to Rs 3 lakh crore by 2030. ii.REC have sanctioned more than Rs 85,700 crore towards various projects spanning from metro, ports, airports, oil refineries, highways, steel infra to healthcare, educational institutions and also in sectors of IT infra/ fiber optics, etc About REC Limited: It is a Maharatna CPSE (Central Public Sector Enterprise) established in 1969, under Ministry of Power. Chairman and Managing Director– Vivek Kumar Dewangan Headquarters– Gurugram, Haryana About Punjab National Bank (PNB): MD & CEO– Atul Kumar Goel Headquarters– New delhi, Delhi Tagline– the name you can BANK upon ! Establishment– 1894
Ministry of Education, AICTE & Microsoft Signs MoU to Equip Students with SkillsMinistry of Education(MoE), All India Council for Technical Education (AICTE), and Microsoft have signed a Memorandum of Understanding (MoU) to equip students with skills and exposure to new technologies.
The collaboration aims to provide students with opportunities for skill development, mentorship, and project development, as well as to empower educators in the fields of AI, Cloud, Data Science, Data Analytics, and Security.
Features of the MoU: i.Microsoft is set to integrate Microsoft Learn its centralized training and skilling platform to complement AICTE’s existing curriculum and offer students hands-on experience with Microsoft technologies. ii.Microsoft will also engage students in the Azure Developer Community in India for industry insights and mentorship.
Students and educators will also have access to Azure Handbooks to work on projects that solve problems for industries including manufacturing, retail, healthcare, and education.
iii.The Future Ready Talent Program will also be offered for skilling students and virtual mentorship on technology projects to strengthen their competences. Key people: The MoU was signed in the presence of Dharmendra Pradhan, Union Minister of Education, Skill Development and Entrepreneurship, Dr. Subhas Sarkar, Minister of State for Education; Annapurna Devi, Minister of State for Education and T.G. Sitharam, Chairman of AICTE. About Future Ready Talent Program: i.Future Ready Talent Program is a digital upskilling program for students to enhance their employability.
Students will receive a certificate from Microsoft and the National Association of Software and Service Companies (NASSCOM) after completing their internship through this program.
It is the collaborative initiative by Microsoft, AICTE, FutureSkills Prime – a NASSCOM and Ministry of Electronics and Information Technology (MeitY) digital skilling initiative, Ernst & Young (EY), GitHub and Quess Corp.
About All India Council for Technical Education (AICTE): All India Council for Technical Education (AICTE) is the national-level Apex Advisory Body for the promotion of quality in technical education under the Ministry of Education(MoE). Chairman – T.G. Sitharam Headquarters – New Delhi, Delhi Established – 1945 About Microsoft: Chief Executive Officer (CEO) – Satya Nadella Headquarters – Redmond, Washington (United States of America) Established – 1975
WaheedaRehman to be Honoured with 53rd Dada Saheb Phalke AwardVeteran Indian actor and Padma Awardee WaheedaRehman will be conferred with the Dada Saheb Phalke Award for the year 2021 for her lifetime contribution to Indian cinema. She will become the 53rd recipient of this award.
She will also be the 8th female artist to receive the dadasaheb phalke award.
The award will be presented during the 69th National Film Awards ceremony.
Honoured with the highest award in the field of cinema, the recipients of this award are recognized for their ‘outstanding contribution to the growth and development of Indian cinema’.
About WaheedaRehman: i.She was born on February 3, 1938, in Chengalpattu, Tamil Nadu. In her career spanning over 5 decades, Waheeda Rehman has worked in over 90 films. ii.She initially started her film career in the Telugu industry with the 1955 Telugu films “Rojulu Maraayi” and “Jayasimha”. She made her Hindi cinema debut in Guru Dutt’s 1956 film “CID”. iii.Her notable films include Pyaasa (1957), Guide (1965), Khamoshi (1969), Phagun (1973), Kabhi Kabhie (1976), Chandni (1989), Lamhe (1991), Rang De Basanti (2006), and Delhi 6 (2009), Skater Girl (2021) among many others. Awards: i.The Government of India (GoI) awarded her the National Film Award (Best Actress) for the movie “Reshma and Shera” (1971). ii.She was honoured with the Padma Shri (Art) in 1972, and Padma Bhushan (Art) in 2011 About DadasahebPhalke Award: i.Dada Saheb Phalke Award, instituted in 1969, was introduced by the GoI to commemorate the contribution of Dhundiraj Govind Phalke (Dadasaheb Phalke) to Indian cinema. The award recognises the ‘outstanding contribution to the growth and development of Indian cinema’.
Dhundiraj Govind Phalke, who directed India’s first full-length feature film, Raja Harishchandra in 1913 was considered the Father of Indian cinema.
ii.It is presented annually at the National Film Awards (NFA) ceremony organised by the Directorate of Film Festivals (DFF), under the Ministry of Information and Broadcasting(MIB). iii.The award comprises a Swarna Kamal (Golden Lotus) medallion, a shawl, and a cash prize of Rs.10 lakh. Note:
The inaugural award was conferred by Devika Rani Roerich in 1969.
Asha Parekh was honoured with the Dadasaheb Phalke Award for the year 2020(53rd recipient).
Council of Scientific & Industrial Research celebrated its 82nd Foundation Day – 26th September 2023Council of Scientific & Industrial Research(CSIR) celebrated its 82nd Foundation Day on 26th September 2023 with a event organised at the Bharat Mandapam in New Delhi, Delhi.
Note: CSIR, a premier national Research and Development (R&D) organization led by Prime Minister Narendra Modi, works under the administrative supervision of the MoST. Achievements and Initiatives of CSIR: i.CSIR’s Carbon Capture, Utilisation, and Storage (CCUS) mission aims to combat the urgent global challenge of carbon emissions reduction and climate change mitigation.
It tackles the pressing issue of carbon emissions and climate change.
Focuses on innovative CO2 capture, utilisation, and storage technologies.
ii.CSIR’s initiative focusing on the Sickle Cell Anaemia project aims to implement a comprehensive disease management plan.
The initiative’s goal is to alleviate the future disease burden and enhance the quality of life of patients.
Initiative: i.CSIR Leadership to devise a “One Week-One Theme” scheme along the lines of OWOL, combining all the institutions dealing with the theme or the subject in a truly integrated fashion. About Council of Scientific and Industrial Research (CSIR): President– Narendra Modi Vice-President– Dr. Jitendra Singh Director – General – Dr. Nallathamby Kalaiselvi Headquarters– New Delhi, Delhi Established in– 1942
ACC approved Re-Appointment of Rajeshwar Rao as RBI Deputy Governor for 1 yearAppointments Committee of the Cabinet (ACC) has approved the re-appointment of M Rajeshwar Rao, Deputy Governor of Reserve Bank of India (RBI), for a period of 1 year with effect from 9th October 2023.
Initially, he was appointed as the Deputy governor of RBI in October 2020 for a period of 3 years.
About Rajeshwar Rao: i.Rajeshwar Rao joined the RBI in 1984 and as a career central banker, he has served in various key roles in the functioning of RBI, India’s Central Bank. ii.He has held charge of the Risk Monitoring Department. He has also worked as the Banking Ombudsman, in New Delhi (Delhi). iii.He worked in the RBI’s regional offices in Ahmedabad (Gujarat), Hyderabad (Telangana), Chennai (Tamil Nadu), and New Delhi. iv.He was appointed as the Executive Director of RBI on November 7, 2016. Prior to this, he served as the Chief General Manager of the Financial Markets Operations Department. Deputy Governors of RBI: i.According to the RBI Act 1934, besides the governor, RBI needs 4 DGs, 2 from within the ranks, one commercial banker, and another economist to head the monetary policy department. ii.The current 4 DGs of RBI are:
Swaminathan J
T. Rabi Sankar
M. Rajeshwar Rao
Dr. M.D. Patra
About Reserve Bank of India (RBI): Governor– Shaktikanta Das Headquarters– Mumbai, Maharashtra Established on– April 1, 1935
Katrina Kaif Becomes Uniqlo’s First Brand Ambassador for India Bollywood Actress Katrina Kaif has been named as the first Indian Brand Ambassador of Uniqlo, a Japanese multinational fashion retailer brand.
The one-year agreement will feature the actress in advertising films for the company’s ‘LifeWear’ range of everyday apparel.
Uniqlo is part of Japan’s largest fashion group Fast Retailing which has eight brands including Uniqlo, GU, Theory, PLST, Comptoir des Cotonniers, Princesse Tam-Tam, J Brand and Helmut Lang.
Uniqlo opened its first store in India in 2019.
Switzerland’s Tennis Player Roger Federer has been the Uniqlo Global Brand Ambassador since 2018. Note: Katrina Kaif was also recently (in September ‘23) named as the brand ambassador of Etihad Airways of United Arab Emirates.
World Tourism Day 2023- September 27The United Nations (UN) World Tourism Day (WTD) is annually observed across the globe on 27 September to promote and raise awareness among the international community about the importance of tourism, and its social, cultural, political, and economic significance.
The annual observance of WTD is led by the UN World Tourism Organization (UNWTO), a UN specialized agency responsible for the promotion of responsible, sustainable and universally accessible tourism.
27th September 2023 marks the observance of 43rd World Tourism Day. The 2023 theme kept by the UNWTO is, “Tourism and green investment”.
With this theme, UNWTO highlights the need for more and better-targeted investments for the Sustainable Development Goals (SDGs), the UN roadmap for a better world by 2030.
Background: i.On September 1979, the UNWTO General Assembly at its 3rd session in Torremolinos (Spain), decided to institute WTD. ii.The first-ever WTD was observed on 27 September 1980. About United Nations World Tourism Organization (UNWTO): It is the UN agency responsible for the promotion of responsible, sustainable, and universally accessible tourism. Secretary-General– Zurab Pololikashvili Headquarters– Madrid, Spain Established in– 1975
World Lung Day 2023 – September 25World Lung Day is observed annually on September 25th across the globe to raise awareness about lung health and promote lung disease prevention.
25th September 2023 marks the 6th World Lung Day.
Theme: The theme for World Lung Day 2023 is “Access to prevention and treatment for all. Leave no one behind.”
The theme highlights the importance of ensuring equal access to lung disease prevention and treatment for everyone, emphasizing that the goal is to ensure healthy lungs for all.
The theme reflects the commitment to ‘Reduce Inequity’ which is one of the 2030 Agenda for Sustainable Development goals.
Background: i.World Lung Day was initiated by Forum of International Respiratory Societies (FIRS) which is a collaborative organization consisting of the world’s foremost international respiratory societies. ii.The first World Lung Day was celebrated in 2017. Significance: i.The day aims to make people aware that clean air and essential lung care are fundamental rights, regardless of one’s circumstances. ii.The daypaves a path in the prevention of lung diseases such as asthma, chronic obstructive pulmonary disease (COPD), lung cancer, and infections like tuberculosis. iii.It serves as a platform to advocate for universal access to quality healthcare, education, and diagnostics regarding lung health. About FIRS: i.FIRS was established in 2001; FIRS is dedicated to advancing lung health on a global scale.
David CL Lam is the President of FIRS and the Asian Pacific Society of Respirology (APSR)
ii.FIRS has identified three key target areas to tackle inequalities in the fight against respiratory disease:
Improving access to preventative services and stop-smoking treatments
Expanding access to inhalation therapies
Strengthening access to effective pneumonia vaccines for children.
iii.FIRS along with Global Initiative for Chronic Obstructive Lung Disease (GOLD), is calling on governments and healthcare providers worldwide to give equitable access to preventative services and treatments for respiratory conditions, and lifesaving pneumonia vaccines for children.
Chhattisgarh Government launches Mukhyamantri Gramin Awas Nyay Yojana Chhattisgarh Chief Minister (CM) Bhupesh Baghel has launched the “Mukhyamantri Gramin Awas Nyay Yojana” with the aim of providing assistance for constructing houses to eligible beneficiaries of the scheme across the state. The scheme includes beneficiaries who have not received the benefit of Pradhan Mantri (PM) Awas Yojana which is based on Socio-Economic Survey 2011 (officially known as Socio Economic and Caste Census – SECC 2011).
Based on the Chhattisgarh State Socio-Economic Survey 2023, around 1,076,545 families out of the 5,979,000 families were found to be houseless and having kutcha(mud and straw) houses.
The scheme provides financial assistance of Rs 1,30,000 and Rs 1,20,000 per family by dividing it into IAP (hilly and inaccessible areas) and non-IAP (plain areas) districts, respectively.
In addition, the eligible families will get Rs 12,000 as per their eligibility through the convergence of Swachh Bharat Mission Grameen (SBM-G) and Mahatma Gandhi National Rural Employment Guarantee Act(MNREGA).
Note: Additionally, Rs 5 crore has been deposited to the accounts of 500 beneficiaries under the Mukhyamantri Nirman Shramik Awas Sahayata Yojana (MNSASY), which offers Rs 1 lakh for the construction of housing assistance to registered construction workers.
Northeast’s Mithun Recognized as a ‘Food Animal’ by FSSAI The Food Safety and Standards Authority of India (FSSAI) has recognized Mithun (scientific Name-Bos frontalis), the bovine (cow-like animal) as a ‘food animal’.
Cabinet approves continuation of Schemes of MDoNER worth Rs 12882.2cr from 2022-23 to 2025-26i.The Union Cabinet chaired by the Prime Minister (PM) Narendra Modi has approved the continuation of the Schemes of the Ministry of Development of North Eastern Region (MDoNER) for the balance period of the 15th Finance Commission i.e. from 2022-23 to 2025-26. ii.Its outlay is Rs 12882.2 crore. Based on the Expenditure Finance Committee (EFC) recommendations, the funding for different northeastern states is as follows:
North East Special Infrastructure Scheme (NESIDS)– Rs.8139.5 crore including committed liabilities of ongoing projects
Schemes of NEC– Rs.3202.7 crore including committed liabilities of ongoing projects
Special Packages for BTC, DHATC and KAATC in Assam– Rs.1540 crore (BTC- Rs 500 crore, KAATC – Rs 750 crore and old packages of BTC, DHATC & KAATC – Rs 290 crore)
About Ministry of Development of North Eastern Region (MDoNER): Union Minister– Gangapuram Kishan Reddy (Constituency- Secunderabad, Telangana) Minister of State (MoS)– B. L. Verma (Constituency- Uttar Pradesh)
Union Minister Dr Jitendra Singh inaugurates National Genome Editing & Training Centre at Mohali, PunjabOn 5th January 2023, Dr Jitendra Singh, Minister of State (Independent Charge) of the Ministry of Science and Technology, inaugurated the “National Genome Editing & Training Centre” (NGETC) at the National Agri-Food Biotechnology Institute (NABI), under the Department of Biotechnology, Ministry of Science and Technology, in Mohali, Punjab.
Dr Jitendra Singh also launched a 4-day International Conference on Food and Nutritional Security 2023 (iFANS-2023), which takes place from 6th to 9th January 2023.
Key Points: i. Over 80,000 firms have been founded in India as a result of the startup movement, which had just roughly 350 startups before 2014. ii. Dr Jitendra Singh insisted that the increase in the number of StartUps must also equally and proportionately reflect in the Agri and Bio-tech because this area is yet to be fully explored and taken advantage of by Indian entrepreneurs and youth. National Genome Editing & Training Centre (NGETC): i. The NGETC is one roof state-of-the-art facility that will serve as a national platform to meet regional demands for adapting various genome editing methods, including Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)-Cas mediated genome modification.
Genome editing is a tool to cause site-specific gene changes or mutations to enable the development of critical crop features.
Indian research might use the promising technology of genome editing to provide the necessary custom features in crops.
ii. NGETC will help empower young researchers by educating them about its expertise and application in crops. iii. Bananas, rice, wheat, tomato, maize, and millet are just a few of the many crops that NABI has demonstrated its capacity to expand the use of its genome editing technologies. International Conference in Food and Nutritional Security 2023 (iFANS-2023): The iFANS-2023, a 4-day conference, will be jointly organized by the National Agri-Food Biotechnology Institute (NABI), Centre for Innovative and Applied Bioprocessing (CIAB), Indian Council of Agricultural Research – National Institute of Plant Biotechnology (ICAR – NIPB), and International Centre for Genetic Engineering and Biotechnology (ICGEB) at NABI, Mohali, Punjab.
The theme of the conference is pertinent to inspire young students and researchers considering the fact that food and nutrition security is a global demand.
The conference will discuss how genome editing might improve India’s food and nutritional security under changing climate.
The conference will have multiple sessions with speakers from 15 different countries.
80 speakers (40 international and 40 national) will be sharing their scientific knowledge during the conference.
India’s Biggest Hockey Stadium was inaugurated in Odisha Naveen Patnaik, Chief Minister(CM) of Odisha, inaugurated the Birsa Munda International Hockey Stadium, India’s largest hockey stadium, in terms of seated (chair) capacity of 20,000, in Rourkela, Odisha.
CM Naveen Patnaik also inaugurated the World Cup Village at Birsa Munda Hockey Stadium Complex in Rourkela and announced a reward of Rs 1 crore for each player of the Indian hockey team if they win the World Cup Hockey.
CM also inaugurated the “Mo Bus” (my bus) services in Rourkela with 30 vehicles to ensure hassle-free movement during the hockey world cup.
The stadium is inaugurated ahead of the 15th Fédération Internationale de Hockey(FIH) Hockey World Cup – FIH Odisha Hockey Men’s World Cup 2023 which is scheduled to be held from 13th to 29th January 2023 in Bhubaneswar and Rourkela, Odisha.
Rourkela is the 2nd venue for the international event after the Kalinga Stadium in Bhubaneswar, Odisha.
Key People:
Bhola Nath Singh, Secretary General of Hockey India along with officials of Hockey India and the Odisha government were present during the event. About Birsa Munda International Hockey Stadium: i.The Birsa Munda International Hockey Stadium, named after freedom fighter Birsa Munda, is built over 15 acres of land at the campus of the Biju Patnaik University of Technology (BPUT) in Rourkela. ii.The stadium, with a total capacity of 21,000, is built at a cost of Rs 146 crore. 20 of the 44 Hockey World Cup matches will be held at Birsa Munda stadium and the remaining will be held in Kalinga Stadium. iii.The stadium was built by the Odisha Industrial Infrastructure Development Corporation (IDCO). World Cup Village: i.The World Cup Village with 225 rooms with all amenities for the Hockey World Cup has been developed within a period of 9 months. ii.The World Cup Village will house the teams and officials of the FIH Odisha Hockey Men’s World Cup 2023. Additional info: During the inauguration event, CM Naveen Patnaik unveiled a book titled “Odisha Re Hockey” (Hockey In Odisha) published by School and Mass Education Department. The book deals with the history of Hockey in Sundargarh and the role of Odisha in promoting the national sport of India. Points to note: Odisha will be hosting the men’s hockey world cup for the 2nd time in a row. Previously, the 2018 Hockey world cup was hosted at Kalinga Stadium in Bhubaneswar, Odisha. This will be the fourth time India will host the hockey world cup.
India gets its 1st IVF Mobile Unit for Animals
On 1st January 2023, India received its 1st In vitro fertilization (IVF) mobile unit for animals in Amreli, Gujarat. Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry and Dairying, inaugurated the mobile IVF lab.
The Government of India and Amar Dairy jointly dedicated the IVF mobile van.
Notably, IVF is a complex series of procedures used to support fertility and child conception.
It is an advanced reproductive technology used in animals to multiply superior female germplasm at a higher rate.
ILO Report: Half of The World’s Workforce Works Too Much or Too Little
As per the report, prior to the COVID-19 pandemic, the average number of hours per week in paid work globally was around 43.9 hours (2019 or the latest available year).
Key Observations from the Report i.The report examines the two main aspects of working time: working hours and working time arrangements (also called work schedules), as well as their effects on business performance and workers’ work-life balance.
The report examines implications on work-life balance, such as shift work, on-call work, compressed hours, and hours-averaging schemes.
ii.The report, which is the first to focus on work-life balance, discovered that a significant fraction of the global workforce works either long or short hours when compared to a standard eight-hour day/40-hour work week.
More than one-third of all workers work more than 48 hours per week on a regular basis, whereas one-fifth of the global workforce works short (part-time) hours of less than 35 per week.
iii.The report also looked at the disparities between workers’ actual and preferred work hours, and found a significant misalignment.
Workers in the informal economy are more likely to work long or short hours.
iv.The report provides a significant amount of evidence showing work-life balance policies have a positive impact on businesses, proving that such policies benefit both employers and employees. About the International Labour Organization (ILO): ILO is the only tripartite United Nations (UN) agency that brings together governments, employers, and workers from 187 member countries. India is a founder member of the ILO. Director-General – Gilbert Fossoun Houngbo Headquarters – Geneva, Switzerland Establishment – 1919
RBI selected 6 firms under 4th cohort of RS to Test Anti-Fraud Solutionsi.On January 5, 2023, the Reserve Bank of India (RBI) selected six entities out of nine applications for the Test Phase under the 4th cohort of Regulatory Sandbox (RS) on the theme ‘Prevention and Mitigation of Financial Frauds’. ii.The selected entities will commence testing their products on Anti-Fraud Solutions from February 2023. iii.Selected entities & their Products:
Bahwan Cybertek
Crediwatch Information Analytics
enStage Software Private Limited (Wibmo)
HSBC in collaboration with Wibmo
napID Cybersec
Trusting Social
SEBI nod to Reclassify Govt Holding in IDBI Bank as ‘Public’ after SaleThe Securities and Exchange Board of India (SEBI) agreed to the Central Government request to reclassify its shareholding in IDBI Bank after its disinvestment as public holding.
However, this is subject to the condition that government’s voting rights in the bank will not exceed 15% of the total voting rights after the sale.
Key Points: i.Thisreclassification by government must be specified in the letter of offer dispatched to the shareholders of the bank in connection with the open offer made by the acquirer. ii.After disinvestment, the bank must make an application to the stock exchanges for reclassification of the government holding under the public category. iii.The new acquirer must ensure compliance with the minimum public shareholding (MPS) requirements within one year of the sale. iv.At present, the government holds 45.48% stake, LIC holds around 49.24%, and the remaining 5.28% is public shareholding. v.The government is selling 30.48% stake in the bank, while LIC will sell 30.24%.
After the sale, the government will be left with 15 per cent and LIC will have a little over 19 per cent stake in the bank.
About Securities and Exchange Board of India (SEBI): Chairperson– Madhabi Puri Buch Headquarters– Mumbai, Maharashtra Establishment– 1992
SEBI Issues Debt Broker License to Zerodha-Backed GoldenPi TechnologiesThe Securities and Exchange Board of India (SEBI) has granted a debt broker license to GoldenPi Technologies, a Bengaluru (Karnataka)-based fintech company backed by Indian financial services provider Zerodha.
With this, GoldenPi Technologies became the first online bond platform (OBP) provider to obtain a debt brokerage licence from SEBI.
On January 5, 2022, SEBI relaxed certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) relating to the dispatch of a hard copy of the annual report (financial statements) due in the year 2023 to debenture holders till September 30, 2023, which shall take effect immediately. The earlier extension lasted until December 31, 2022.
About the Securities and Exchange Board of India (SEBI): Chairperson– Madhabi Puri Buch Headquarters– Mumbai, Maharashtra Establishment– 1992
RBI Launches Medium-Term Strategy Framework “Utkarsh 2.0” For 2023-2025The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, has launched the“Utkarsh 2.0”Medium-Term Strategy Framework for the period 2023-2025.
Utkarsh 2.0 would enable the RBI to respond to socioeconomic challenges in both a proactive and reactive manner.
Utkarsh 2.0 relies on the strengths of Utkarsh 2022 by retaining the six vision statements, as well as the core purpose, values, and mission statement.
Utkarsh 2022 i.The first strategy framework, “Utkarsh 2022”, covering the period 2019-2022, was launched in July 2019.
It evolved into a medium-term strategy document that guided the RBI’s work toward the achievement of the defined milestones.
ii.Utkarsh’s core purpose is to promote monetary and financial stability while retaining growth as a priority, in order to support the establishment of an effective and inclusive financial system. Six Vision statements of Utkarsh 2.0
Excellence in performance of its functions
Strengthened trust of citizens and Institutions in the RBI
Enhanced relevance and significance in national and global roles
Transparent, accountable and ethics-driven internal governance
Best-in-class and environment-friendly digital and physical infrastructure
Innovative, dynamic and skilled human resources
Key Points: i.Utkarsh 2.0 will include the adoption of tools driven by artificial intelligence (AI) and machine learning (ML) for data analysis and information generation. ii.The RBI oversees the program’s implementation and development, through a Sub-committee of its Central Board. About the 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 –1935
Axis Bank & OPEN Collaborate to Launch a Fully Digital Current AccountAxis Bank Limited (Axis Bank), India’s third-largest private sector bank, has partnered with Open Financial Technologies Pvt Ltd (OPEN), a digital banking firm, to give its customers a fully native digital current account journey.
This is Axis Bank’s first collaboration with a fintech company to develop a fully digital current account.
Small and Medium Enterprises (SMEs), freelancers, homepreneurs (home-based entrepreneurs), influencers, and other clients would benefit from the Fully Digital Current Account. Key Points: i.The existing Current account holders of Axis Bank will have access to over 250 banking services from Axis Bank as well as OPEN’s financial automation tools for business management.
Payments, accounting, payroll, compliance, expense management, and other services are among the business management tools offered by OPEN.
ii.The digital current account authentication process will be entirely online, using the PAN (permanent account number) and Aadhaar, followed by a video KYC (know your customer) process. iii.OPEN will continue to work on integrating value-added services for users such as term loans, revenue-based finance, and more. Open Financial Technologies Pvt Ltd (OPEN) i.OPEN, a neo-banking platform headquartered in Bangalore, Karnataka, was founded in 2017.
A “neo-bank” is a kind of digital bank that does not have any physical locations. They use artificial intelligence (AI) and technology to give clients personalized services while reducing operating costs.
ii.OPEN operates the SME neo-banking platform ‘Open Money’, the embedded finance platform ‘Zwitch’, and ‘BankingStack’, the enterprise digital banking platform for banks. iii.Open, India’s 100th Unicorn, is backed by top global investors such as IIFL Finance, Temasek, Google, Visa, and Tiger Global, among others.
OPEN’s digital banking platform is currently used by over 30 lakh businesses.
Anish Achuthan is the Co-founder and Chief Executive Officer (CEO) of OPEN.
About Axis Bank Limited: MD & CEO – Amitabh Chaudhry Establishment –1993 Headquarters – Mumbai, Maharashtra Tagline – Badhti Ka Naam Zindagi
CIRIUM: Delhi & Bengaluru Among the Top 10 Performing Global Airports Of 2022According to the On-Time Performance Review 2022 released by CIRIUM, the aviation analytics company, Kempegowda International Airport, Bengaluru, Karnataka, and Indira Gandhi International (IGI) Airport, Delhi, were listed among the top 10 in the Top Performing Global Airports of 2022.
Kempegowda International Airport is ranked 2nd and Indira Gandhi International (IGI) Airport is ranked 7th on the list.
The list is topped by Haneda Airport in Japan.
Chhatrapati Shivaji Maharaj International Airport, Mumbai (Maharashtra) stood at the 11th spot.
The Top Performing Global Airports of 2022:
Varanasi Cantt Railway Station Bags ‘Eat Right Station’ Certification from FSSAI
The Varanasi Cantt railway station has been awarded a 5- star ‘Eat Right Station’ certification by the Food Safety and Standards Authority of India (FSSAI) for providing high quality and nutritious food to passengers. The 5-star rating indicates full compliance by the station to ensure safe and hygienic food is available to passengers.
The certification is part of the ‘Eat Right India’ movement- a large-scale effort by FSSAI to transform India’s food system to ensure safe, healthy and sustainable food for all Indians.
The other railway stations with Star certification include Anand Vihar Terminal Railway Station (Delhi); Chhatrapati Shivaji Terminus (Mumbai); Mumbai Central Railway Station, (Mumbai); Vadodara Railway Station, Chandigarh Railway Station and Bhopal Railway Station.
Kerala CM Pinarayi Vijayan presents 1st Gouriamma award to Aleida Guevara
On 5th January 2023, Pinarayi Vijayan, Chief Minister (CM) of Kerala, presented the 1st Gouriamma award to Aleida Guevara, Cuban child rights advocate and daughter of revolutionary leader Che Guevara, at Olympia Hall at Chandrasekharan Nair Stadium in Thiruvananthapuram, Kerala.
The award recognises her efforts to rehabilitate differently abled children and provide debt relief to developing countries.
The award was instituted by The K.R. Gouriamma Foundation in memory of the Communist leader K.R. Gouriamma.
The award comprises USD 3,000, a statuette and a citation.
Jury: former Education Minister M.A. Baby(chair) Binoy Viswam, Member of Parliament (MP), and P.C. Beenakumari, managing trustee of the foundation.
Tropidophis cacuangoae: Scientists Discovers New Dwarf Boa in Ecuadoran Amazon
Scientists have discovered a new species of dwarf boa(snake): Tropidophis cacuangoae in the Ecuadorian Amazon, Ecuador. The new species is named after 20th century Indigenous rights activist Dolores Cacuango. Two specimens of the species were found in the Colonso Chalupas national reserve and in the private Sumak Kawsay park.
The new species is 20 centimetres (7.8 inches) long, with skin colouring similar to those of the boa constrictor.
The species is unusual for having a “vestigial pelvis” characteristic of primitive snakes and taken as evidence by some that snakes descended from lizards that lost their limbs over millions of years.
The researchers’ findings were published in the European Journal of Taxonomy.
Pranesh from TN Becomes India’s 79th Chess Grandmaster; Wins Rilton Cup 2022/2023M Pranesh (16-year-old) from Tamil Nadu (TN) became India’s 79th Grandmaster (GM) after crossing the 2500 ELO rating and winning the Rilton Cup 2022/2023 held in Stockholm, Sweden.
The Rilton Cup is the first tournament of the FIDE circuit.
Pranesh is the 28th Grandmaster from Tamil Nadu(TN).
Key highlights: i.He crossed the 2500-rating threshold and became a GM, having completed his three norms before the Rilton Cup.
He won his first norm at the 18th Delhi GM Open in January 2020 and claimed his second norm at the Sunway Sitges International Chess Festival in Spain in December 2021.
He won his third norm at the Asian Continental Chess Championship 2022.
Key Points: i.Pranesh has been seeded 22nd, finishing ahead of IM Kaan Kucuksari (Sweden) and GM Nikita Meshkovs (Latvia).
He topped the Rilton Cup charts which witnessed the participation of 136 players representing 29 national federations
ii.With 6.8 circuit points Pranesh is now the early leader of the FIDE Circuit.
The player with most points by the end of the year qualifies for the 2024 FIDE Candidates.
iii.Grandmaster R Raja Rithvik of India finished 8th with 6 points. Note – On 1st January 2023 Koustav Chatterjee (19-year) had become India’s 78th GM at the MPL 59th National Senior Chess in New Delhi, Delhi. About GrandMaster (GM): i.Grandmaster (GM) is the highest title a chess player attain and it is awarded by the world chess organisation FIDE (Fédération Internationale des Échecs – International Chess Federation).
To become a GM, a player has to secure three GM norms and cross the live rating of 2,500 Elo points.
ii.The other titles by FIDE include International Master (IM), FIDE Master (FM) and Candidate Master (CD), which are open to all chess players regardless of gender.
KKCL & BCCI partners as Official Sponsor of Indian Cricket Team
Kewal Kiran Clothing Limited (KKCL), the retail giant, has announced plans to enter its flagship brand ‘Killer’ into a strategic partnership with the Board of Control for Cricket in India (BCCI) as the Indian Cricket Team’s “Official Sponsor”.
The brand will now be displayed on the Team India jersey’s right upper chest. KKCL will put on the brand Killer logo on Team India’s Kit until 31st May 2023.
Since 1992, KKCL, one of India’s major branded garment manufacturers, has been creating, producing, and distributing branded jeans and a variety of western clothing.
It also produces “Killer” jeans, a brand that has been prominently marketed on the fields of cricket. KKCL owns brands like Integriti, Lawmanpg3, Easies and Desi Belle
FIH Partners with JSW Group for 15th Edition Hockey Men’s World Cup
The International Hockey Federation (FIH) has signed a partnership with the JSW Group for the upcoming 15th edition of FIH Odisha Hockey Men’s World Cup 2023 Bhubaneswar-Rourkela, which will be conducted between 13th January 2023 – 29th January 2023 in Odisha. The JSW Group supports and promotes Olympics in India and has created an Olympic Training Institute in the Inspire Institute of Sport. It also has Olympic training centres across India.
Veteran Sinologist Janaki Ballabh passed away in Beijing
Veteran Sinologist Janaki Ballabh, an Indian translator and writer, who translated a range of Chinese works into Hindi, passed away in Beijing, China, at the age of 94. He lived and worked in China as a Hindi Language expert from 1956 to the years immediately following the Cultural Revolution.
Janaki Ballabh was born in Dalakot village in Almora in Uttarakhand and was closely associated with India’s Independence movement.
Noted works: ‘Selected Works’ by Mao Zedong, founder of the Communist Party of China (CPC); the Chinese classic novel ‘Journey to the West’; and works of prominent Chinese writer, essayist, poet and literary critic Lu Xun
He was honoured with Peace and Friendship Award 1961 by former Chinese Premier Zhou Enlai for his contributions to cultural exchange between China and India.
Sinologist – a person who studies or is an expert in the academic study of China primarily through Chinese language, literature, and history.
World Day of War Orphans 2023 – January 6World Day of War Orphans is annually observed across the globe on January 6 to create initiatives to ensure a better future for children who have been left orphaned by war and to raise awareness of the need to preserve their human rights globally.
The day provides a platform for discussing the problem of war orphans and emphasising the difficulties children experience as they develop emotionally, socially, and physically.
i. The French organisation SOS Enfants En Detresse (SOSEED), which aimed to better the lives of children impacted by conflict, established the World Day of War Orphans. ii.War Orphans- A child who has lost both parents or, less commonly, one parent through civilian deaths in the war. About the United Nations Children’s Fund (UNICEF); Executive Director- Catherine M. Russell Headquarters- New York, USA Establishment- 1946
Army Inks Pact with Assam Govt for Treatment of Ex-servicemen at Medical Colleges
On 5th January 2023 the Indian Army signed Memorandums of Agreement (MoUs)with eight government medical colleges and hospitals under the Governemnt of Assam to offer the Ex-Servicemen Contributory Health Scheme (ECHS) in Assam. The benefits of ECHS will be offered in hospitals and colleges in Guwahati, Dibrugarh, Silchar, Jorhat, Barpeta, Tezpur, Diphu and North Lakhimpur.
The MoUs were signed between the Indian Army and 8 government medical colleges and hospitals in Assam in presence of Chief Minister (CM) Himanta Biswa Sarma and General Officer Commanding-in-Chief of the Eastern Command Lt Gen RP Kalita.
The Assam Cancer Care Foundation (ACCF), Government of Assam and TATA Trust initiative, has also been empanelled with ECHS.
This scheme covers all types of diseases and will facilitate the cashless and capless treatment of almost 1.12 lakh beneficiaries.
HP CM Sukhvinder Singh Sukhu Launched Rs 101 crore CM’s Sukhashray Sahayata Kosh for the Needy
On 1st January 2023, Sukhvinder Singh Sukhu, Chief Minister (CM) of Himachal Pradesh (HP), launched CM’s Sukhashray Sahayata Kosh with an outlay of Rs 101 crore for higher education for needy children especially orphans, destitute women and senior citizens with immediate effect.
All 40 Congress Members of the Legislative Assembly (MLA) have agreed to deposit their first month’s salary into the fund.
The Government of Himachal Pradesh will cover the costs of their skill-development education, higher education (engineering, medicine, and management), and vocational training, for destitute children.
Current Affairs Daily Digest – 7 January 2023
Last updated: Sun Jan 08 2023
Cabinet approves continuation of Schemes of MDoNER worth Rs 12882.2cr from 2022-23 to 2025-26i.The Union Cabinet chaired by the Prime Minister (PM) Narendra Modi has approved the continuation of the Schemes of the Ministry of Development of North Eastern Region (MDoNER) for the balance period of the 15th Finance Commission i.e. from 2022-23 to 2025-26. ii.Its outlay is Rs 12882.2 crore. Based on the Expenditure Finance Committee (EFC) recommendations, the funding for different northeastern states is as follows:
North East Special Infrastructure Scheme (NESIDS)– Rs.8139.5 crore including committed liabilities of ongoing projects
Schemes of NEC– Rs.3202.7 crore including committed liabilities of ongoing projects
Special Packages for BTC, DHATC and KAATC in Assam– Rs.1540 crore (BTC- Rs 500 crore, KAATC – Rs 750 crore and old packages of BTC, DHATC & KAATC – Rs 290 crore)
About Ministry of Development of North Eastern Region (MDoNER): Union Minister– Gangapuram Kishan Reddy (Constituency- Secunderabad, Telangana) Minister of State (MoS)– B. L. Verma (Constituency- Uttar Pradesh)
Union Minister Dr Jitendra Singh inaugurates National Genome Editing & Training Centre at Mohali, PunjabOn 5th January 2023, Dr Jitendra Singh, Minister of State (Independent Charge) of the Ministry of Science and Technology, inaugurated the “National Genome Editing & Training Centre” (NGETC) at the National Agri-Food Biotechnology Institute (NABI), under the Department of Biotechnology, Ministry of Science and Technology, in Mohali, Punjab.
Dr Jitendra Singh also launched a 4-day International Conference on Food and Nutritional Security 2023 (iFANS-2023), which takes place from 6th to 9th January 2023.
Key Points: i. Over 80,000 firms have been founded in India as a result of the startup movement, which had just roughly 350 startups before 2014. ii. Dr Jitendra Singh insisted that the increase in the number of StartUps must also equally and proportionately reflect in the Agri and Bio-tech because this area is yet to be fully explored and taken advantage of by Indian entrepreneurs and youth. National Genome Editing & Training Centre (NGETC): i. The NGETC is one roof state-of-the-art facility that will serve as a national platform to meet regional demands for adapting various genome editing methods, including Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR)-Cas mediated genome modification.
Genome editing is a tool to cause site-specific gene changes or mutations to enable the development of critical crop features.
Indian research might use the promising technology of genome editing to provide the necessary custom features in crops.
ii. NGETC will help empower young researchers by educating them about its expertise and application in crops. iii. Bananas, rice, wheat, tomato, maize, and millet are just a few of the many crops that NABI has demonstrated its capacity to expand the use of its genome editing technologies. International Conference in Food and Nutritional Security 2023 (iFANS-2023): The iFANS-2023, a 4-day conference, will be jointly organized by the National Agri-Food Biotechnology Institute (NABI), Centre for Innovative and Applied Bioprocessing (CIAB), Indian Council of Agricultural Research – National Institute of Plant Biotechnology (ICAR – NIPB), and International Centre for Genetic Engineering and Biotechnology (ICGEB) at NABI, Mohali, Punjab.
The theme of the conference is pertinent to inspire young students and researchers considering the fact that food and nutrition security is a global demand.
The conference will discuss how genome editing might improve India’s food and nutritional security under changing climate.
The conference will have multiple sessions with speakers from 15 different countries.
80 speakers (40 international and 40 national) will be sharing their scientific knowledge during the conference.
India’s Biggest Hockey Stadium was inaugurated in Odisha Naveen Patnaik, Chief Minister(CM) of Odisha, inaugurated the Birsa Munda International Hockey Stadium, India’s largest hockey stadium, in terms of seated (chair) capacity of 20,000, in Rourkela, Odisha.
CM Naveen Patnaik also inaugurated the World Cup Village at Birsa Munda Hockey Stadium Complex in Rourkela and announced a reward of Rs 1 crore for each player of the Indian hockey team if they win the World Cup Hockey.
CM also inaugurated the “Mo Bus” (my bus) services in Rourkela with 30 vehicles to ensure hassle-free movement during the hockey world cup.
The stadium is inaugurated ahead of the 15th Fédération Internationale de Hockey(FIH) Hockey World Cup – FIH Odisha Hockey Men’s World Cup 2023 which is scheduled to be held from 13th to 29th January 2023 in Bhubaneswar and Rourkela, Odisha.
Rourkela is the 2nd venue for the international event after the Kalinga Stadium in Bhubaneswar, Odisha.
Key People:
Bhola Nath Singh, Secretary General of Hockey India along with officials of Hockey India and the Odisha government were present during the event. About Birsa Munda International Hockey Stadium: i.The Birsa Munda International Hockey Stadium, named after freedom fighter Birsa Munda, is built over 15 acres of land at the campus of the Biju Patnaik University of Technology (BPUT) in Rourkela. ii.The stadium, with a total capacity of 21,000, is built at a cost of Rs 146 crore. 20 of the 44 Hockey World Cup matches will be held at Birsa Munda stadium and the remaining will be held in Kalinga Stadium. iii.The stadium was built by the Odisha Industrial Infrastructure Development Corporation (IDCO). World Cup Village: i.The World Cup Village with 225 rooms with all amenities for the Hockey World Cup has been developed within a period of 9 months. ii.The World Cup Village will house the teams and officials of the FIH Odisha Hockey Men’s World Cup 2023. Additional info: During the inauguration event, CM Naveen Patnaik unveiled a book titled “Odisha Re Hockey” (Hockey In Odisha) published by School and Mass Education Department. The book deals with the history of Hockey in Sundargarh and the role of Odisha in promoting the national sport of India. Points to note: Odisha will be hosting the men’s hockey world cup for the 2nd time in a row. Previously, the 2018 Hockey world cup was hosted at Kalinga Stadium in Bhubaneswar, Odisha. This will be the fourth time India will host the hockey world cup.
India gets its 1st IVF Mobile Unit for Animals
On 1st January 2023, India received its 1st In vitro fertilization (IVF) mobile unit for animals in Amreli, Gujarat. Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry and Dairying, inaugurated the mobile IVF lab.
The Government of India and Amar Dairy jointly dedicated the IVF mobile van.
Notably, IVF is a complex series of procedures used to support fertility and child conception.
It is an advanced reproductive technology used in animals to multiply superior female germplasm at a higher rate.
ILO Report: Half of The World’s Workforce Works Too Much or Too Little
As per the report, prior to the COVID-19 pandemic, the average number of hours per week in paid work globally was around 43.9 hours (2019 or the latest available year).
Key Observations from the Report i.The report examines the two main aspects of working time: working hours and working time arrangements (also called work schedules), as well as their effects on business performance and workers’ work-life balance.
The report examines implications on work-life balance, such as shift work, on-call work, compressed hours, and hours-averaging schemes.
ii.The report, which is the first to focus on work-life balance, discovered that a significant fraction of the global workforce works either long or short hours when compared to a standard eight-hour day/40-hour work week.
More than one-third of all workers work more than 48 hours per week on a regular basis, whereas one-fifth of the global workforce works short (part-time) hours of less than 35 per week.
iii.The report also looked at the disparities between workers’ actual and preferred work hours, and found a significant misalignment.
Workers in the informal economy are more likely to work long or short hours.
iv.The report provides a significant amount of evidence showing work-life balance policies have a positive impact on businesses, proving that such policies benefit both employers and employees. About the International Labour Organization (ILO): ILO is the only tripartite United Nations (UN) agency that brings together governments, employers, and workers from 187 member countries. India is a founder member of the ILO. Director-General – Gilbert Fossoun Houngbo Headquarters – Geneva, Switzerland Establishment – 1919
RBI selected 6 firms under 4th cohort of RS to Test Anti-Fraud Solutionsi.On January 5, 2023, the Reserve Bank of India (RBI) selected six entities out of nine applications for the Test Phase under the 4th cohort of Regulatory Sandbox (RS) on the theme ‘Prevention and Mitigation of Financial Frauds’. ii.The selected entities will commence testing their products on Anti-Fraud Solutions from February 2023. iii.Selected entities & their Products:
Bahwan Cybertek
Crediwatch Information Analytics
enStage Software Private Limited (Wibmo)
HSBC in collaboration with Wibmo
napID Cybersec
Trusting Social
SEBI nod to Reclassify Govt Holding in IDBI Bank as ‘Public’ after SaleThe Securities and Exchange Board of India (SEBI) agreed to the Central Government request to reclassify its shareholding in IDBI Bank after its disinvestment as public holding.
However, this is subject to the condition that government’s voting rights in the bank will not exceed 15% of the total voting rights after the sale.
Key Points: i.Thisreclassification by government must be specified in the letter of offer dispatched to the shareholders of the bank in connection with the open offer made by the acquirer. ii.After disinvestment, the bank must make an application to the stock exchanges for reclassification of the government holding under the public category. iii.The new acquirer must ensure compliance with the minimum public shareholding (MPS) requirements within one year of the sale. iv.At present, the government holds 45.48% stake, LIC holds around 49.24%, and the remaining 5.28% is public shareholding. v.The government is selling 30.48% stake in the bank, while LIC will sell 30.24%.
After the sale, the government will be left with 15 per cent and LIC will have a little over 19 per cent stake in the bank.
About Securities and Exchange Board of India (SEBI): Chairperson– Madhabi Puri Buch Headquarters– Mumbai, Maharashtra Establishment– 1992
SEBI Issues Debt Broker License to Zerodha-Backed GoldenPi TechnologiesThe Securities and Exchange Board of India (SEBI) has granted a debt broker license to GoldenPi Technologies, a Bengaluru (Karnataka)-based fintech company backed by Indian financial services provider Zerodha.
With this, GoldenPi Technologies became the first online bond platform (OBP) provider to obtain a debt brokerage licence from SEBI.
On January 5, 2022, SEBI relaxed certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) relating to the dispatch of a hard copy of the annual report (financial statements) due in the year 2023 to debenture holders till September 30, 2023, which shall take effect immediately. The earlier extension lasted until December 31, 2022.
About the Securities and Exchange Board of India (SEBI): Chairperson– Madhabi Puri Buch Headquarters– Mumbai, Maharashtra Establishment– 1992
RBI Launches Medium-Term Strategy Framework “Utkarsh 2.0” For 2023-2025The Governor of the Reserve Bank of India (RBI), Shaktikanta Das, has launched the“Utkarsh 2.0”Medium-Term Strategy Framework for the period 2023-2025.
Utkarsh 2.0 would enable the RBI to respond to socioeconomic challenges in both a proactive and reactive manner.
Utkarsh 2.0 relies on the strengths of Utkarsh 2022 by retaining the six vision statements, as well as the core purpose, values, and mission statement.
Utkarsh 2022 i.The first strategy framework, “Utkarsh 2022”, covering the period 2019-2022, was launched in July 2019.
It evolved into a medium-term strategy document that guided the RBI’s work toward the achievement of the defined milestones.
ii.Utkarsh’s core purpose is to promote monetary and financial stability while retaining growth as a priority, in order to support the establishment of an effective and inclusive financial system. Six Vision statements of Utkarsh 2.0
Excellence in performance of its functions
Strengthened trust of citizens and Institutions in the RBI
Enhanced relevance and significance in national and global roles
Transparent, accountable and ethics-driven internal governance
Best-in-class and environment-friendly digital and physical infrastructure
Innovative, dynamic and skilled human resources
Key Points: i.Utkarsh 2.0 will include the adoption of tools driven by artificial intelligence (AI) and machine learning (ML) for data analysis and information generation. ii.The RBI oversees the program’s implementation and development, through a Sub-committee of its Central Board. About the 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 –1935
Axis Bank & OPEN Collaborate to Launch a Fully Digital Current AccountAxis Bank Limited (Axis Bank), India’s third-largest private sector bank, has partnered with Open Financial Technologies Pvt Ltd (OPEN), a digital banking firm, to give its customers a fully native digital current account journey.
This is Axis Bank’s first collaboration with a fintech company to develop a fully digital current account.
Small and Medium Enterprises (SMEs), freelancers, homepreneurs (home-based entrepreneurs), influencers, and other clients would benefit from the Fully Digital Current Account. Key Points: i.The existing Current account holders of Axis Bank will have access to over 250 banking services from Axis Bank as well as OPEN’s financial automation tools for business management.
Payments, accounting, payroll, compliance, expense management, and other services are among the business management tools offered by OPEN.
ii.The digital current account authentication process will be entirely online, using the PAN (permanent account number) and Aadhaar, followed by a video KYC (know your customer) process. iii.OPEN will continue to work on integrating value-added services for users such as term loans, revenue-based finance, and more. Open Financial Technologies Pvt Ltd (OPEN) i.OPEN, a neo-banking platform headquartered in Bangalore, Karnataka, was founded in 2017.
A “neo-bank” is a kind of digital bank that does not have any physical locations. They use artificial intelligence (AI) and technology to give clients personalized services while reducing operating costs.
ii.OPEN operates the SME neo-banking platform ‘Open Money’, the embedded finance platform ‘Zwitch’, and ‘BankingStack’, the enterprise digital banking platform for banks. iii.Open, India’s 100th Unicorn, is backed by top global investors such as IIFL Finance, Temasek, Google, Visa, and Tiger Global, among others.
OPEN’s digital banking platform is currently used by over 30 lakh businesses.
Anish Achuthan is the Co-founder and Chief Executive Officer (CEO) of OPEN.
About Axis Bank Limited: MD & CEO – Amitabh Chaudhry Establishment –1993 Headquarters – Mumbai, Maharashtra Tagline – Badhti Ka Naam Zindagi
CIRIUM: Delhi & Bengaluru Among the Top 10 Performing Global Airports Of 2022According to the On-Time Performance Review 2022 released by CIRIUM, the aviation analytics company, Kempegowda International Airport, Bengaluru, Karnataka, and Indira Gandhi International (IGI) Airport, Delhi, were listed among the top 10 in the Top Performing Global Airports of 2022.
Kempegowda International Airport is ranked 2nd and Indira Gandhi International (IGI) Airport is ranked 7th on the list.
The list is topped by Haneda Airport in Japan.
Chhatrapati Shivaji Maharaj International Airport, Mumbai (Maharashtra) stood at the 11th spot.
The Top Performing Global Airports of 2022:
Varanasi Cantt Railway Station Bags ‘Eat Right Station’ Certification from FSSAI
The Varanasi Cantt railway station has been awarded a 5- star ‘Eat Right Station’ certification by the Food Safety and Standards Authority of India (FSSAI) for providing high quality and nutritious food to passengers. The 5-star rating indicates full compliance by the station to ensure safe and hygienic food is available to passengers.
The certification is part of the ‘Eat Right India’ movement- a large-scale effort by FSSAI to transform India’s food system to ensure safe, healthy and sustainable food for all Indians.
The other railway stations with Star certification include Anand Vihar Terminal Railway Station (Delhi); Chhatrapati Shivaji Terminus (Mumbai); Mumbai Central Railway Station, (Mumbai); Vadodara Railway Station, Chandigarh Railway Station and Bhopal Railway Station.
Kerala CM Pinarayi Vijayan presents 1st Gouriamma award to Aleida Guevara
On 5th January 2023, Pinarayi Vijayan, Chief Minister (CM) of Kerala, presented the 1st Gouriamma award to Aleida Guevara, Cuban child rights advocate and daughter of revolutionary leader Che Guevara, at Olympia Hall at Chandrasekharan Nair Stadium in Thiruvananthapuram, Kerala.
The award recognises her efforts to rehabilitate differently abled children and provide debt relief to developing countries.
The award was instituted by The K.R. Gouriamma Foundation in memory of the Communist leader K.R. Gouriamma.
The award comprises USD 3,000, a statuette and a citation.
Jury: former Education Minister M.A. Baby(chair) Binoy Viswam, Member of Parliament (MP), and P.C. Beenakumari, managing trustee of the foundation.
Tropidophis cacuangoae: Scientists Discovers New Dwarf Boa in Ecuadoran Amazon
Scientists have discovered a new species of dwarf boa(snake): Tropidophis cacuangoae in the Ecuadorian Amazon, Ecuador. The new species is named after 20th century Indigenous rights activist Dolores Cacuango. Two specimens of the species were found in the Colonso Chalupas national reserve and in the private Sumak Kawsay park.
The new species is 20 centimetres (7.8 inches) long, with skin colouring similar to those of the boa constrictor.
The species is unusual for having a “vestigial pelvis” characteristic of primitive snakes and taken as evidence by some that snakes descended from lizards that lost their limbs over millions of years.
The researchers’ findings were published in the European Journal of Taxonomy.
Pranesh from TN Becomes India’s 79th Chess Grandmaster; Wins Rilton Cup 2022/2023M Pranesh (16-year-old) from Tamil Nadu (TN) became India’s 79th Grandmaster (GM) after crossing the 2500 ELO rating and winning the Rilton Cup 2022/2023 held in Stockholm, Sweden.
The Rilton Cup is the first tournament of the FIDE circuit.
Pranesh is the 28th Grandmaster from Tamil Nadu(TN).
Key highlights: i.He crossed the 2500-rating threshold and became a GM, having completed his three norms before the Rilton Cup.
He won his first norm at the 18th Delhi GM Open in January 2020 and claimed his second norm at the Sunway Sitges International Chess Festival in Spain in December 2021.
He won his third norm at the Asian Continental Chess Championship 2022.
Key Points: i.Pranesh has been seeded 22nd, finishing ahead of IM Kaan Kucuksari (Sweden) and GM Nikita Meshkovs (Latvia).
He topped the Rilton Cup charts which witnessed the participation of 136 players representing 29 national federations
ii.With 6.8 circuit points Pranesh is now the early leader of the FIDE Circuit.
The player with most points by the end of the year qualifies for the 2024 FIDE Candidates.
iii.Grandmaster R Raja Rithvik of India finished 8th with 6 points. Note – On 1st January 2023 Koustav Chatterjee (19-year) had become India’s 78th GM at the MPL 59th National Senior Chess in New Delhi, Delhi. About GrandMaster (GM): i.Grandmaster (GM) is the highest title a chess player attain and it is awarded by the world chess organisation FIDE (Fédération Internationale des Échecs – International Chess Federation).
To become a GM, a player has to secure three GM norms and cross the live rating of 2,500 Elo points.
ii.The other titles by FIDE include International Master (IM), FIDE Master (FM) and Candidate Master (CD), which are open to all chess players regardless of gender.
KKCL & BCCI partners as Official Sponsor of Indian Cricket Team
Kewal Kiran Clothing Limited (KKCL), the retail giant, has announced plans to enter its flagship brand ‘Killer’ into a strategic partnership with the Board of Control for Cricket in India (BCCI) as the Indian Cricket Team’s “Official Sponsor”.
The brand will now be displayed on the Team India jersey’s right upper chest. KKCL will put on the brand Killer logo on Team India’s Kit until 31st May 2023.
Since 1992, KKCL, one of India’s major branded garment manufacturers, has been creating, producing, and distributing branded jeans and a variety of western clothing.
It also produces “Killer” jeans, a brand that has been prominently marketed on the fields of cricket. KKCL owns brands like Integriti, Lawmanpg3, Easies and Desi Belle
FIH Partners with JSW Group for 15th Edition Hockey Men’s World Cup
The International Hockey Federation (FIH) has signed a partnership with the JSW Group for the upcoming 15th edition of FIH Odisha Hockey Men’s World Cup 2023 Bhubaneswar-Rourkela, which will be conducted between 13th January 2023 – 29th January 2023 in Odisha. The JSW Group supports and promotes Olympics in India and has created an Olympic Training Institute in the Inspire Institute of Sport. It also has Olympic training centres across India.
Veteran Sinologist Janaki Ballabh passed away in Beijing
Veteran Sinologist Janaki Ballabh, an Indian translator and writer, who translated a range of Chinese works into Hindi, passed away in Beijing, China, at the age of 94. He lived and worked in China as a Hindi Language expert from 1956 to the years immediately following the Cultural Revolution.
Janaki Ballabh was born in Dalakot village in Almora in Uttarakhand and was closely associated with India’s Independence movement.
Noted works: ‘Selected Works’ by Mao Zedong, founder of the Communist Party of China (CPC); the Chinese classic novel ‘Journey to the West’; and works of prominent Chinese writer, essayist, poet and literary critic Lu Xun
He was honoured with Peace and Friendship Award 1961 by former Chinese Premier Zhou Enlai for his contributions to cultural exchange between China and India.
Sinologist – a person who studies or is an expert in the academic study of China primarily through Chinese language, literature, and history.
World Day of War Orphans 2023 – January 6World Day of War Orphans is annually observed across the globe on January 6 to create initiatives to ensure a better future for children who have been left orphaned by war and to raise awareness of the need to preserve their human rights globally.
The day provides a platform for discussing the problem of war orphans and emphasising the difficulties children experience as they develop emotionally, socially, and physically.
i. The French organisation SOS Enfants En Detresse (SOSEED), which aimed to better the lives of children impacted by conflict, established the World Day of War Orphans. ii.War Orphans- A child who has lost both parents or, less commonly, one parent through civilian deaths in the war. About the United Nations Children’s Fund (UNICEF); Executive Director- Catherine M. Russell Headquarters- New York, USA Establishment- 1946
Army Inks Pact with Assam Govt for Treatment of Ex-servicemen at Medical Colleges
On 5th January 2023 the Indian Army signed Memorandums of Agreement (MoUs)with eight government medical colleges and hospitals under the Governemnt of Assam to offer the Ex-Servicemen Contributory Health Scheme (ECHS) in Assam. The benefits of ECHS will be offered in hospitals and colleges in Guwahati, Dibrugarh, Silchar, Jorhat, Barpeta, Tezpur, Diphu and North Lakhimpur.
The MoUs were signed between the Indian Army and 8 government medical colleges and hospitals in Assam in presence of Chief Minister (CM) Himanta Biswa Sarma and General Officer Commanding-in-Chief of the Eastern Command Lt Gen RP Kalita.
The Assam Cancer Care Foundation (ACCF), Government of Assam and TATA Trust initiative, has also been empanelled with ECHS.
This scheme covers all types of diseases and will facilitate the cashless and capless treatment of almost 1.12 lakh beneficiaries.
HP CM Sukhvinder Singh Sukhu Launched Rs 101 crore CM’s Sukhashray Sahayata Kosh for the Needy
On 1st January 2023, Sukhvinder Singh Sukhu, Chief Minister (CM) of Himachal Pradesh (HP), launched CM’s Sukhashray Sahayata Kosh with an outlay of Rs 101 crore for higher education for needy children especially orphans, destitute women and senior citizens with immediate effect.
All 40 Congress Members of the Legislative Assembly (MLA) have agreed to deposit their first month’s salary into the fund.
The Government of Himachal Pradesh will cover the costs of their skill-development education, higher education (engineering, medicine, and management), and vocational training, for destitute children.
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 launchedDigital 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 PlanAegon 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
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 launchedDigital 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 PlanAegon 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.
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 programmeaims 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 3rdbucket 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.
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 BurnettOrchard, 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 GreenkoZeroC 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) DhananjayaYashwant (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]
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.
MoD signs contracts worth Rs 19,600cr to acquire NG-OPVs & NGMVs for IN; Rs 9,100cr contracts for improved AWS & 12 WLR Swathi for IAi.On March 30, 2023, the Ministry of Defence (MoD) signed contracts with Indian shipyards for acquisition of 11 Next Generation Offshore Patrol Vessels (NG-OPVs) and 6 Next Generation Missile Vessels (NGMVs) at an overall cost of approx. Rs 19,600 crore for Indian Navy (IN) to boost ‘Aatmanirbharta’ in defence. ii.The contract for NG-OPVs was signed with Goa Shipyard Limited (GSL) and Garden Reach Shipbuilders and Engineers (GRSE), Kolkata (West Bengal), at a total cost of Rs 9,781 crore. It was signed under Buy {Indian-IDDM (Indigenously Designed, Developed and Manufactured)} category. iii.MoD signed contracts for procurement of improved Akash Weapon System (AWS) and 12 Weapon Locating Radars, WLR Swathi (Plains) for Indian Army (IA) at an overall cost of over Rs 9,100 crore. About Ministry of Defence (MoD): Union Minister– Rajnath Singh (Constituency- Lucknow, Uttar Pradesh) Minister of State– Ajay Bhatt (Constituency- Nainital-Udhamsingh Nagar, Uttarakhand)
Himachal Pradesh’s Kangra tea gets European GI Tag
On 29th March 2023, Himachal Pradesh’s Kangra Tea got a European Union(EU) Geographical Indication Tag (GI Tag). This will offer an opportunity for the Kangra tea to enter the European Market. About Kangra Tea: i.Kangra tea is a type of tea that is grown in the Himachal Pradesh region of India. Since 1999, the cultivation and development of the kangra tea have been improved in the Kangra region(‘Valley of Gods’) of Himachal Pradesh. ii.Kangra tea is grown 900-1,400 meters above sea level with the annual rainfall being 270-350 centimeter (cm), on the slopes of the Dhauladhar mountain range in the Western Himalayas. iii.The demand of Kangra tea has been increasing and it is being exported to Kabul and Central Asia via Peshawar.
The Kangra tea received the Indian GI tag in 2005.
About GI Tag: i.Geographical indications (GIs) are Intellectual Property (IP) Rights(IPR) is primarily an agricultural, natural or manufactured product (handicraft and industrial goods) originating from a definite geographical territory.
European GI tag protects agricultural products and foodstuffs; spirit drinks; wines; and aromatised wines.
ii.The GI Tag provides assurance of quality and distinctiveness, which is essentially attributable to the place of its origin. iii.Once a product gets a GI tag, any person or company cannot sell a similar item under that name. iv.This tag is valid for a period of 10 years following which it can be renewed.
Home Minister Amit Shah inaugurates Development Works in UK & SardarVallabhbhai Patel Memorial in Bidar, Karnatakai.On March 30, 2023, the Union Minister Amit Shah, Ministry of Home Affairs (MHA) was on a visit to Uttarakhand (UK) to inaugurate development works viz. Computerization of UK’s Multipurpose Primary Agricultural Credit Cooperative Societies (MPACS), Joint cooperative farming, Jan Suvidha Kendras and Janaushadhi Kendras in Haridwar, UK. ii.On March 26, 2023, Home Minister Amit Shah unveiled the statues of Lord Basaveshwara ji and Nadaprabhu Kempegowda ji at the State Assembly premises in Bengaluru, Karnataka. iii.He also inaugurated Gorata Martyr Memorial and Sardar Vallabhbhai Patel Memorial and also unfurled the 103 feet high tricolor at Gorata ground in Bidar, Karnataka About Ministry of Home Affairs (MHA): Union Minister – Amit Shah (Gandhi Nagar Constituency, Gujarat) Minister of State (MoS) – Nityanand Rai (Ujiarpur, Bihar); Ajay Kumar Mishra (Kheri, Uttar Pradesh); Nisith Pramanik (Coochbehar, West Bengal)
Lok Sabha amends Competition Act 2002; CCI to penalise Tech MNCs for Global Revenue
On 29th March 2023, Lok Sabha, the lower house of Parliament, approved the amendments of the Competition Act, 2002, that seek to cover global deals by digital multinational companies (MNCs) under local laws.
The Competition (Amendment) Bill, 2022 was after Finance Minister Nirmala Sitharaman moved as many as 13 official amendments to the Bill.
Following the amendment, the Competition Commission of India (CCI) will now have the power to impose penalties on MNCs for violations based on their international revenue.
The Competition (Amendment) Bill, 2022 aims to regulate transactions made by international digital companies, provided that the entities involved have a strong business presence in India.
The amendments also provide for the settlement of minor violations.
Other Details of the Bill: i. The amendments propose introducing a deal value threshold as a condition to regulate mergers and combinations.
According to the bill, entities are expected to seek approval from the Competition Commission if the deal value exceeds Rs 2000 crore and if both companies (acquiring and the target) have substantial business operations in India.
ii. Control in the target company is an important consideration that affects CCI’s clearance. iii. ‘Material influence’ has now been defined by the government as the basis for control in the most recent amendment to the Competition Act. iv. A settlement mechanism is now being implemented under the Act to decrease litigation and allow easier dispute resolution. v. According to the Competition Act, companies engaging in anti-competitive practices might face monetary penalties from the Competition Commission. vii. The bill aims to reduce various procedural timelines for merger approval to facilitate quicker merger approval. About the Competition Commission of India (CCI): Acting Chairperson- Sangeeta Verma Headquarters- New Delhi, Delhi Establishment- 14th October 2003 (Operational from 2009)
EU Removes Pakistan From List of High-Risk Third-Country JurisdictionsThe European Commission of the European Union(EU) has removed Pakistan from its list of High-Risk Third-Country Jurisdictions, this move is expected to improve the conditions of business activities in Pakistan.
Following the deletion, Pakistan will no longer be subjected to enhanced EU scrutiny which includes credit and financial institutions, auditors, external accountants, tax advisers, notaries and independent legal professionals, among others.
Background: i.In December 2022, the European Commission updated its list of High-Risk Third-Country Jurisdictions presenting strategic deficiencies in their anti-money laundering/countering the financing of terrorism (AML/CFT) regimes.
Following the update, Democratic Republic of the Congo, Gibraltar, Mozambique, Tanzania and the United Arab Emirates, were added to the list while Pakistan along with Nicaragua and Zimbabwe were delisted.
ii.The updated list accounted the information from the Financial Action Task Force (FATF) and the changes over 2022 in the FATF list of “Jurisdictions under Increased Monitoring”. Note: FATF removed pakistan along with Nicaragua in October 2022 following the implementation of their respective action plans agreed with the FATF. Key Points: i.The Ministry of Commerce, Government of Pakistan annoucned that Pakistan was added to the list of High-Risk Third-Country in 2018 which resulted in creating a regulatory burden affecting the Pakistan based companies that are doing business with the members of EU(27 countries). ii.The delisting of Pakistan will ease the cost and time of legal and financial transactions by Pakistan entities and indivuals in EU. High-Risk Third-Country: i.According to the EU, The high risk third countries list includes countries that do not have a robust enough regulatory and legal system to prevent financial crimes and terrorism. ii.Countries added on the list are subjected to enhanced scrutiny and additional measures that increase the cost of doing business. About European Union: The European Union is an international economic and political alliance of 27 member countries. The EU was formed by the Treaty Of Maastricht, which took effect on November 1, 1993.
19 member countries uses euro as their official currency.
Headquarters – Brussels,Belgium
SEBI Board Meeting (March 2023): Significant Takeaways from 16 Major DecisionsThe Securities and Exchange Board of India (SEBI) took a number of decisions at its board meeting on March 29, 2023, with the goal of protecting investors’ interests and bolstering the market infrastructure to handle disruptions. The 16 Major Decisions and Their Implications include: i. Balanced Framework for ESG Disclosures, Ratings and Investing ii. Establishing a regulatory framework for Environmental, Social and Governance (ESG) Rating Providers in Securities Market by introducing a new chapter in the SEBI (Credit Rating Agencies) Regulations, 1999. iii. ASBA -like facility for trading in Secondary Market: Option to investors iv. Upstreaming of clients’ funds by Stock Brokers (SBs) / Clearing Members (CMs) to Clearing Corporations (CCs) to mitigate credit risk on intermediaries v. Amendments to Stock Brokers Regulations to institute a formal mechanism for prevention and detection of fraud or market abuse by stock brokers. vi. Introduction of Regulatory Framework for Index Providers About the Securities and Exchange Board of India (SEBI): Chairperson– Madhabi Puri Buch Headquarters– Mumbai, Maharashtra Establishment– 1992
Aditya Birla Health Insurance enters into bancassurance partnership with UCO BankAditya Birla Health Insurance Co Ltd (ABHICL), the health insurance joint venture of Aditya Birla Capital Ltd. (ABCL) inked a bancassurance partnership with UCO Bank, for the distribution of its health insurance products.
This partnership will enable ABHICL to utilize UCO Bank’s widely distributed network of 3,164 branches and reach out to more than 40 million customers of the bank across India.
Key Points: i.With this association, UCO Bank’s customers and employees will have access to ABHICL’s comprehensive suite of health-first insurance solutions like incentivized wellness benefits of up to 100% Health Returns and chronic management program, Day-1 cover for asthma, high blood pressure, high cholesterol, diabetes; wellness coaching on nutrition and fitness and counselling on mental health. ii.With the UCO Bank partnership, ABHICL now has 17 bancassurance partners with over 80,000 direct selling agents, across India. About UCO Bank: MD & CEO– Soma Sankara Prasad Headquarters– Kolkata, West Bengal Tagline– Honours your Trust
Ambit Finvest, SKALEUP join hands for Digital Lending Platform for MSMEs Ambit Finvest has partnered with SKALEUP, the digital technology services arm of Bajaj Finserv Direct, to develop a D2C (direct-to-customer) instant loan application to give business loans to MSME (Micro, Small & Medium Enterprises) business owners through a completely paperless and automated digital onboarding process.
The platform will oversee a wide variety of processes and services offered by Ambit Finvest, along with multiple products. It will be capable of handling complex workflows that involve sales, underwriting, and operations.
Key Points: i.SKALEUP’s Creditech solution is a low-code/no-code digital platform that enables data-driven decisions. ii.Ambit Finvest is the NBFC (Non-Banking Financial Company) of the Ambit Group and has served over 50,000 MSME business owners and disbursed more than Rs 3,500 crore in loans.
In January 2023, Ambit Finvest acquired the MSME business of SME Corner (a digital lender operating under the trade name Digikredit Finance and registered with the Reserve Bank of India (RBI) as an NBFC).
iii.Bajaj Finserv Direct is a subsidiary of Bajaj Finserv. About Ambit Finvest: CEO– Sanjay Agarwal Headquarters– Mumbai, Maharashtra Tagline– Pragati Ke Partner
AMNS Luxembourg Holding signs USD 5 billion loan agreement with consortium of Japanese banksAMNS Luxembourg Holding S.A., the parent company of ArcelorMittal Nippon Steel India Limited (“AM/NS India”), has entered into a USD 5 billion “JBIC co-financing loan” agreement with a consortium of Japanese banks.
The banks that make up the Japanese banking consortium are: The Japan Bank for International Cooperation (“JBIC”), MUFG Bank, Ltd., Sumitomo Mitsui Banking Corporation, Sumitomo Mitsui Trust Bank Limited, Mizuho Bank Ltd., and Mizuho Bank Europe N.V.
‘AM/NS India’ is the 60/40 steelmaking joint venture in India operated by Nippon Steel Corporation (“Nippon Steel”) and ArcelorMittal (“AM”). Key Points: i.The proceeds from the JBIC co-financing loan will be utilized to finance a portion of the funds for AM/NS India’s new construction and expansion of upstream, hot rolling, and other facilities.
It will help AM/NS India increase its annual steelmaking capacity at its Hazira plant from 9 million tonnes to 15 million tonnes.
ii.Upon receiving environmental clearances, the expansion project, which began in October 2022, will generate more than 60,000 employment. iii.“AM/NS India” is currently the fifth-largest producer of crude steel in India.
With these measures to increase its capacity, Nippon Steel intends to meet the rising demand in the Indian market and maintain its market position.
About Nippon Steel Corporation (“Nippon Steel”): President – Eiji Hashimoto Headquarters – Tokyo, Japan
Godrej Capital & SBI signs MoU to offer Banking Products & Services
Godrej Capital Limited, the financial services arm of the Godrej Group, and State Bank of India (SBI) have signed a Memorandum of Understanding (MoU) to strengthen their partnership, where the bank would provide various financial products and offerings.
Godrej Capital and SBI will work together to increase the affordability and accessibility of financial products, unlocking opportunities for financial inclusion.
SBI aims to capitalise on synergies that will empower its customers and accelerate the growth of its economy.
SBI will also focus on delivering financial solutions to the Godrej group.
The partnership leverages the advantages of both groups by facilitating a range of financial services provided by the bank such as banking products, credit cards, wealth management and insurance products as preferred partners.
Axis Bank partners with Shriram Housing Finance for Co-Lending
On 30th March 2023, Axis Bank, the third largest private sector bank in India, and Shriram Housing Finance Limited (SHFL) announced a partnership under the co-lending model through the Yubi Co.Lend platform.
Through this partnership, the lenders will each provide secured home loans and MSME (Micro, Small and Medium Enterprise) loans to borrowers in the middle and low-income segments based in rural and semi-urban areas.
The collaboration will make use of the technological platform, Yubi to efficiently process loans according to the co-lending guidelines.
MoC&I Released FTP 2023: India aims for increase exports to USD 2 trillion by 2023On 31st March 2023, The Ministry of Commerce and Industry(MoC&I), Government of India(GoI), released the Foreign Trade Policy (FTP) 2023 which aims to increase India’s exports to USD 2 trillion by 2030 by shifting from incentives to remission and entitlement based regime.
Union Minister Piyush Goyal, (MoC&I) released the FTP 2023 during an event held in New Delhi, Delhi.
The FTP 2023 is set to become effective from 1st April 2023.
Abut FTP 2023: Unlike the usual 5 year-FTP, the FTP 2023 does not have an end date and it will be updated as and when needed.
The previous FTP came into force on 1st April 2015 and was later extended in the wake of COVID-19 pandemic and the subsequent disruption in economic activities.
The last extension was given in September 2022 till 31st March 2023.
About Ministry of Commerce and Industry(MoC&I): Union Minister– Piyush Goyal(Rajya Sabha- Maharashtra) Minister of State(MoS)- Som Parkash (Constituency- Hoshiarpur, Punjab) and Anupriya Patel(Constituency- Mirzapur, Uttar Pradesh)
Aaliya Mir becomes First J&K Woman to Receive Wildlife Conservation AwardAaliya Mir, a wildlife conservationist working for India-based charity Wildlife SOS, has been honoured with the Wildlife Conservation Award for 2023 by the administration of the Union Territory (UT) Jammu and Kashmir (J&K), for her conservation efforts in the region.
She becomes the first Woman from J&K to receive the Wildlife Conservation Award.
The Award carries a cash prize of Rs 25000 and a Momento.
She received the award from Manoj Sinha, Lieutenant Governor of J&K, on the International Day of Forests (21st March 2023) event held by the Department of Forest, Ecology and Environment of the J&K government.
She was recognised for her efforts spanning diverse aspects of wildlife conservation, which include the rescue and release of wild animals, treatment of injured animals, human-wildlife conflict mitigation and managing 2 bear rescue centres in Kashmir.
About Aaliya Mir: i. Aaliya Mir has been associated with Wildlife SOS since 2002. She started as a volunteer and then began undertaking diverse projects in J&K. ii. She is the Programme Head and Education Officer at Wildlife SOS and Kashmir’s 1st female wildlife rescuer. iii. She is primarily recognised for her work with snakes despite having rescued Asiatic black bears, Himalayan brown bears, birds, leopards, and other species. iv. In 2021, Wildlife SOS launched a wildlife rescue helpline under the leadership of Aaliya Mir. About Wildlife SOS: Wildlife SOS is a non-profit organisation based in India that focuses on rescuing and rehabilitating wildlife. It was founded in 1995. Chief Executive Officer (CEO) & Co-founder- Kartick Satyanarayan Headquarters- New Delhi, Delhi
UAE President names Sheikh Khaled as Crown Prince of Abu Dhabi
On 29th March 2023, Sheikh Mohammed bin Zayed Al Nahyan (Known by his initials MBZ), President of the United Arab Emirates (UAE) and the ruler of Abu Dhabi, appointed his eldest son Sheikh Khaled bin Mohamed bin Zayed Al Nahyan as Crown Prince of Abu Dhabi (UAE), Other Appointments: i. President Sheikh Mohammed also appointed his brother Sheikh Mansour bin Zayed Al Nahyan as Vice President of the UAE. ii. MBZ named his other brothers Sheikh Tahnoun bin Zayed Al Nahyan and Hazza bin Zayed Al Nahyan as deputy rulers of Abu Dhabi. About Sheikh Khaled bin Mohamed bin Zayed Al Nahyan: i. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan was born on 8th January 1982. ii. He is a member of the Abu Dhabi Executive Council and Chairman of both the Abu Dhabi Executive Committee and the Abu Dhabi Executive Office. iii. In 2016, Sheikh Khaled was appointed Head of National Security and in 2017, he was named Deputy National Security Adviser. iv. He is a member of Abu Dhabi’s Supreme Council for Financial and Economic Affairs, and a member of the board of directors of Abu Dhabi National Oil Company (ADNOC). v. Additionally, he serves as the head of several boards, including the Advanced Technology Research Council (ATRC), the UAE Genomics Council, and the Executive Committee of the board of directors of ADNOC. About the United Arab Emirates (UAE): President- Sheikh Mohammed bin Zayed Al Nahyan Prime Minister- Sheikh Mohammed bin Rashid Al Maktoum Capital- Abu Dhabi Currency- United Arab Emirates Dirham
Tata Power re-appoints Praveer Sinha as CEO & MD for Four Years
Tata Power Company Limited (TATA Power), one of India’s oldest and largest integrated power utilities, re-appointed Praveer Sinha as its Chief Executive Officer (CEO) and Managing Director (MD) for 4 years with effect from 1st May 2023.
His current tenure as the CEO and MD of Tata Power will conclude on 30th April 2023.
On March 30, 2023, the Board of Tata Power approved the reappointment based on the proposal of the Nomination and Compensation Committee.
He is the chairman of the CII Western Region Council and co-chairs the CII National Committee on Power.
is a visiting research associate at the Massachusetts Institute of Technology (MIT), Boston, USA.
Rajib K Mishra takes over as Chairman and Managing Director of PTC India
On 29th March 2023, Dr Rajib K Mishra, a power market veteran with diverse experience in the sector, has taken over as Chairman and Managing Director (CMD) of PTC India Limited, the leading provider of power trading solutions in India, with an immediate effect.
Dr Rajib K Mishra joined PTC Board on 24th February 2015 as Director (Marketing and Business Development).
Prior to PTC India Limited, he was in charge of Operations, Business Development, Retail & Advisory Services while serving as Executive Director of PTC Inc. from October 2011.
He has professional experience spanning 30 years with PowerGrid, NTPC, and PTC India.
Scientists of ICAR Discovers New Moray Eel Species- Gymnothorax TamilnaduensisThe Indian Council of Agriculture Research (ICAR) scientists have discovered a Moray Eel fish of the Genus Gymnothorax collected from the trawl bycatch landings at Mudasalodai fish landing centre, off Cuddalore coast, Tamil Nadu, southeast coast of India. It has been named after Tamil Nadu “Gymnothorax Tamilnaduensis” with a common name of “Tamil Nadu brown moray eel”. Discovery Publication: i. The discovery has been published in the latest issue of the international peer-reviewed journal “Zoosystematics and Evolution” on 23rd March 2023. ii. The new species was discovered by researcher P. Kodeswaran, scientist G. Kantharajan, Principal scientist T.T. Ajith Kumar, Indian Council of Agricultural Research-National Bureau of Fish Genetic Resources (NBFGR), Anil Mohapatra of Estuarine Biology Regional Centre, Zoological Survey of India and Uttam Kumar Sarkar of NBFGR. iii. The name of the fish species is registered in the Zoobank, the online registration system for the international commission on Zoological Nomenclature (ICZN). About the Species: i. The holotype of this new species has also been deposited at the National Fish Museum and repository of ICAR-NBFGR, Lucknow. ii. This is the first record of the Gymnothorax genus ever found on the south-eastern coast of India, the Bay of Bengal, and was discovered during an exploration survey conducted along the coastal waters of Cuddalore. iii. So far, Indian waters have been home to 28 different species of Gymnothorax.
The discovery brings the overall number of Gymnothorax species to 29.
iv. Four specimens were captured in nets about 80 to 100 feet underwater v. Gymnothorax Tamilnaduensis is between 10 and 20 inches long and belongs to a class of enigmatic water creatures that are frequently discovered in crevices and holes.
It is now the 4th known species of short brown unpatterned moray eels.
Moray eels: i. Moray eels or Muraenidae are a family of eels found in all tropical and subtropical seas, they live in shallow water among reefs and rocks. ii. It can be found in both freshwater habitats and saltwater habitats. iii. They are known for 2 types of jaws: one is regular (oral) jaws with big teeth and the second jaw is called the pharyngeal jaw (which drags prey inside the eel’s stomach).
International Transgender Day of Visibility 2023 – March 31International Transgender Day of Visibility is annually observed across the globe on March 31 to celebrate the achievements and contributions of transgender and gender-diverse people (TGD) around the world. International Transgender Day of Visibility 2023 was observed on 31st March 2023. Aim: The day aims to raise awareness of the work that still needs to be done to eliminate discrimination and other barriers to inclusion within all aspects of society. Flag: i. Transgender flag is a tricolour pride flag with five horizontal stripes in light pink, light blue, and white.
The colour of the Transgender flag was proposed in 1999.
ii. It was designed by American trans woman Monica Helms to represent the transgender community, organizations, and individuals. Background: i. International Transgender Day of Visibility was founded by Rachel Crandall, the United States of America (USA)-based transgender activist in 2009. Rachel Crandall is a psychotherapist and the executive director of Transgender Michigan, an organisation based in the US. ii. The 1st ever International Transgender Day of Visibility was observed on 31st March 2009.
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