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Daily Current Affairs – April 14, 2023

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Daily Current Affairs - Banking - April 14, 2023

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National News

G20 Session

  • The Culture Working Group (CWG) under India’s G20 Presidency will organise the second webinar on the topic “Harnessing Living Heritage for a Sustainable Future”.
  • It will be facilitated by UNESCO (Paris) as the knowledge partner.
  • It will bring together experts from 29 countries including G20 members and guest nations, as well as several international organisations.
  • The two-day Women 20 meeting organized under G-20 in Jaipur.
  • Mission Digital Mahila was also launched in this meeting in the presence of G20 India sherpa Amitabh Kant.
  • The objective of launching “Mission Digital Mahila” is to empower women through financial and business literacy as well as digital proficiency.

PM Modi addresses National Rozgar Mela, distributes appointment letters to 71,000 new recruits

  • Prime Minister Narendra Modi virtually distributed appointment letters to 71,000 new recruits in the National Rozgar Mela in various government departments and organizations.
  • Prime Minister greeted the nation on the auspicious occasion of Baisakhi.
  • The Prime Minister highlighted that the process for government recruitment is taking place at a fast pace in NDA-ruled states from Gujarat to Assam and Uttar Pradesh to Maharashtra.
  • He noted that recruitment letters to more than 22,000 teachers were handed out in Madhya Pradesh.

International News

Finance Minister Nirmala Sitharaman calls upon World Bank to make Global Public Goods as third goal at Development Committee Meeting in Washington DC

  • Union Finance Minister Nirmala Sitharaman attended the Development Committee Meeting of the World Bank-IMF in Washington DC.
  • The Ministry of Finance said that Ms Sitharaman stated that New Delhi remains concerned about the global economic outlook and geopolitical environment despite projections of a growth rate of over 6 percent for the Indian economy this year.
  • The finance minister stressed that the World Bank should continue to work for its vision of ‘A World Free of Poverty’ and ‘ending extreme poverty’ and promoting shared prosperity in a manner that is inclusive, resilient and sustainable.
  • She also suggested that global public goods should also be brought into focus as the third goal.
  • Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)

State News

Uttarakhand CM launches ‘A-HELP’ programme to strengthen livestock-related activities

  • The Chief Minister of Uttarakhand, Mr. Pushkar Singh Dhami launched ‘A-HELP’ (Accredited Agent for Health and Extension of Livestock Production) programme in the State of Uttarakhand.
  • At Survey of India Auditorium Dehradun, Mr. Pushkar Singh Dhami, said that women have played a pivotal role in formulation and holistic development of livestock sector especially in Uttarakhand.
  • Under this program trained A-HELPs will give their vital contribution in preventing various infectious diseases of animals, artificial insemination under Rashtriya Gokul Mission (RGM), tagging of animals and animal insurance.
  • Uttarakhand – Dehradun (Winter), Gairsain (Summer) (Capital) – Pushkar Singh Dhami (CM) – Gurmit Singh (Governor) – Hindi (Language)

Schemes

DFS Secretary holds meeting with 10 Departments to boost enrolments under PMJJBY and PMSBY

  • Secretary, Department of Financial Services (DFS) Dr. Vivek Joshi held a meeting with ten Central Ministries and Departments to boost enrolments under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) during the 3-month long campaign. The campaign has been launched on the 1st of April and will continue till the 30th of June this year.
  • The Ministries that participated in the meeting, include the Ministry of Labour and Employment, the Ministry of Housing and Urban Affairs, the Ministry of Panchayati Raj, the Ministry of Agriculture, and the Ministry of Women and Child Development. 
  • Chairing the meeting Dr. Vivek Joshi exhorted the Ministries and Departments concerned for maximum coverage of Self-Help Groups members, Anganwadi workers, health workers, all unorganized labour, street vendors, MNREGA workers, and PM Kisan beneficiaries among others.
  • Dr. Joshi also sought their support for their active role in ensuring that the saturation campaign reaches a maximum number of eligible beneficiaries.

Banking and Finance

Reserve Bank of India proposes threshold for penal charges on loans

  • The Reserve Bank of India (RBI) has announced draft norms on penal charges levied by banks and non-banking finance companies (NBFCs) on loan accounts to bring in transparency and to ensure such charges are reasonable.
  • The regulator said the quantum of charges should be proportionate to default, for which threshold has to be determined by regulated entities.
  • The regulator has mandated that penal charges on loans sanctioned to individual borrowers, for purposes other than business, must not be higher than the penal charges applicable to non-individual borrowers.

RBI announces guidelines to accept green deposits by banks, NBFCs

  • The Reserve Bank of India (RBI) announced a framework for accepting ‘green deposits’ by banks and deposit-taking non-banking finance companies (NBFCs).
  • The central bank has identified nine sectors in which the proceeds from these green bonds must be used.
  • They include renewable energy and green transport.
  • The green deposits shall be denominated in Indian Rupees only.
  • Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)

SEBI reveals new logo on its foundation day

  • Markets regulator Securities and Exchange Board of India has unveiled its new logo on the occasion of its foundation.
  • Established on April 12, 1988, SEBI celebrated its 35th Foundation Day.
  • Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)

Bajaj Finance plans entry into microfinance segment by 2025

  • Bajaj Finance, country’s largest consumer durable finance provider, plans to enter micro finance segment by 2025, extending its focus beyond the middle class, Sanjiv Bajaj, Chairman & Managing Director Bajaj Finserv.
  • Currently, Bajaj Finserv, which is the holding group company for all the financial services businesses of the Bajaj Group, holds 52.49 per cent equity stake in Bajaj Finance, which primarily focuses on the middle class.
  • Bajaj Finserv Limited – May 2007 (Founded) – Pune (HQ) – Sanjiv Bajaj (Chairman, MD & CEO)

Bajaj Finance partners with SBI General Insurance to offer more consumer-centric motor insurance policies

  • To ensure a hassle-free purchase of motor insurance policies, SBI General Insurance has collaborated with Bajaj Finance to offer one-of-its-kind car and bike insurance policies.
  • Vehicle owners can visit the Bajaj Finance portal to buy the SBI General car and bike insurance policies online in just a few steps.
  • The process is simple and less time-consuming.
  • SBI General Insurance -2009 (Founded) – Mumbai (HQ) – Kishore Kumar Poludasu (MD & CEO)

Agreements and MoUs signed

NMCG signs agreement with 49 Universities to inspire youth toward water conservation

  • National Mission for Clean Ganga has signed an agreement with 49 Universities to inspire youth towards water conservation and river rejuvenation.
  • The MoU aims to bring the student community to the forefront of the mass movement for creating a sustainable ecosystem of rivers.

Science and Technology

Oxford University, Serum Institute of India tie-up delivers 'high efficacy' malaria vaccine

  • A University of Oxford developed and Serum Institute of India (SII) manufactured and scaled up “high efficacy” malaria vaccine has been licensed for use in Ghana by Africa’s Food and Drugs Authority.
  • The R21/Matrix-M vaccine, leveraging Novavax’s adjuvant technology, has been approved for use in children aged 5 to 36 months – the age group at the highest risk of death from malaria.
  • It marks the first regulatory clearance for the R21/Matrix-M malaria vaccine for use in any country.

Appointments

Centre appoints nodal officers for 150 water stressed districts

  • The Centre has appointed nodal officers for 150 water stressed districts across the country to take stock of the work under the ‘catch the rain’ programme.
  • These officers would visit respective districts coordinating implementation of various rain water harvesting, conservation measures and source sustainability aspects, etc., they said citing an official order in this regard.
  • Jal Shakti Abhiyan: Catch the Rain (JSA:CTR) – 2023 with the theme “source sustainability for drinking water” was launched by President Droupadi Murmu.

Krithivasan to take over from Gopinathan as TCS CEO

  • K Krithivasan, the new chief executive officer (CEO) of TCS, will take charge of the company from Rajesh Gopinathan with effect from June 1.
  • The term of his appointment is for a period of 5 years.
  • Tata Consultancy Services (TCS) – 1968 (founded) – Mumbai (HQ) – Natarajan Chandrasekaran (Chairman)

RBI approves reappointment of MD & CEO of AU Small Finance Bank

  • Reserve Bank of India (RBI) approved the reappointment of Sanjay Agarwal as MD & CEO of AU Small Finance Bank.
  • Sanjay Agarwal has been reappointed for a period of three years, from April 19, 2023, to April 18, 2026.
  • Also, Uttam Tibrewal has been reappointed as whole-time Director of the Bank for the next three years.
  • AU Small Finance Bank – 1996 (Founded) – Jaipur, Rajasthan (HQ) – Raj Vikash Verma (Chairman) – Sanjay Agarwal (MD & CEO)

Ranks and Indices

India retains top status in International Flight Safety Standards

  • India’s International Aviation Safety Assessment rating will continue to remain in Category One as the country meets the international standards for aviation safety oversight.
  • India received category one status after the Federal Aviation Administration (FAA) of the United States conducted an audit of the Directorate General of Civil Aviation (DGCA) in the areas covering aircraft operations, airworthiness, and personnel licensing.
  • FAA under its International Aviation Safety Assessment (IASA) program determines whether a country complies with safety standards established by the International Civil Aviation Organization (ICAO).
  • The FAA appreciated the DGCA for demonstrating a commitment to ensuring the effective safety oversight of India’s aviation system.
  • Category One status countries are permitted to operate and expand their services to destinations in the USA and codeshare with US air carriers.
  • The Ministry of Civil Aviation said India’s Category 1 determination has come at a time when the Indian aviation sector is on a high growth trajectory and is a testimony to India’s commitment to effective safety oversight for its civil aviation system.

World's 'most criminal countries' ranking: India behind US, UK at 77 spot

  • World of Statistics has shared the ranking of the world’s “most criminal countries”.
  • On the list, Venezuela has been ranked top, followed by Papua New Guinea (2), Afghanistan (3), South Africa (4), Honduras (5), Trinidad (6), Guyana (7), Syria (8), Somalia (9) and Jamaica (10), respectively.
  • India stood at 77 spots while the US and UK were ahead of India in the criminal ranking country.
  • The USA was at 55th number and the UK at 65th rank.

India ranks 5th in countries with most AI investment

  • India ranked fifth in terms of investments received by startups offering artificial intelligence (AI)-based products and services last year, according to Stanford University’s annual AI Index report.
  • AI startups in India received a cumulative funding of $7.73 billion from 2013 to 2022, which places it sixth among the countries with the highest AI investments during that period.
  • However, nearly 40% of this funding was received in the year 2022 alone.

Sports News

Asian Wrestling Championship

  • Indian women wrestlers have bagged seven medals – two silver and five bronze – in Asian Wrestling Championships at Astana in Kazakhstan and finished 3rd in the Women’s Teams Ranking.
  • In the last edition, India won 5 medals and settled at the 4th spot.
  • Antim Panghal won silver in the 53-kg category.
  • Nisha Dahiya also claimed silver in the 68-kg category.
  • Anshu Malik, Sonam Malik, Manisha, and Reetika bagged bronze medals.

Defence

HAL’s third Light Combat Aircraft production line inaugurated

  • Defence Secretary Giridhar Aramane inaugurated the third production line of the Light Combat Aircraft (LCA) set up by Hindustan Aeronautics Ltd. (HAL) at Nashik in Maharashtra.
  • He also handed over 10 Sukhoi-30 MKI aircraft repaired and overhauled (ROH) by HAL to the Indian Air Force.
  • The new production line will enable the company to enhance LCA-MK1A production capacity from 16 to 24 aircraft per year.
  • Hindustan Aeronautics Limited (HAL) – 22/12/1940 (HQ) – Bangalore (HQ) – CB Ananthakrishnan (Chairperson & MD)

Daily Current Affairs - April 14, 2023 - Consolidated

  • G20 Session
  • PM Modi addresses National Rozgar Mela, distributes appointment letters to 71,000 new recruits
  • Finance Minister Nirmala Sitharaman calls upon World Bank to make Global Public Goods as third goal at Development Committee Meeting in Washington DC
  • Uttarakhand CM launches ‘A-HELP’ programme to strengthen livestock-related activities
  • DFS Secretary holds meeting with 10 Departments to boost enrolments under PMJJBY and PMSBY
  • Reserve Bank of India proposes threshold for penal charges on loans
  • RBI announces guidelines to accept green deposits by banks, NBFCs
  • SEBI reveals new logo on its foundation day
  • Bajaj Finance plans entry into microfinance segment by 2025
  • Bajaj Finance partners with SBI General Insurance to offer more consumer-centric motor insurance policies
  • NMCG signs agreement with 49 Universities to inspire youth toward water conservation
  • Oxford University, Serum Institute of India tie-up delivers ‘high efficacy’ malaria vaccine
  • Centre appoints nodal officers for 150 water stressed districts
  • Krithivasan to take over from Gopinathan as TCS CEO
  • RBI approves reappointment of MD & CEO of AU Small Finance Bank
  • India retains top status in International Flight Safety Standards
  • World’s ‘most criminal countries’ ranking: India behind US, UK at 77 spot
  • India ranks 5th in countries with most AI investment
  • Asian Wrestling Championship
  • HAL’s third Light Combat Aircraft production line inaugurated

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