Daily Current Affairs – February 20, 2023
Daily Current Affairs - Banking - Feb 20, 2023
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Month-long safety drive launched by Indian Railways
- A month-long safety drive has been launched by Indian Railways to prevent derailments and other types of potential accidents.
- Senior officers from Railway Board, Zonal Railways and Divisions have been instructed to go to various sections, lobbies, maintenance centres, and work sites, and carry out a thorough review of working practices to check and enforce safe operation and maintenance practices prescribed to prevent accidents/unusual incidents.
Serum Institute to establish CoE for Infectious Diseases and Pandemic Preparedness in Telangana
- Vaccine maker Serum Institute of India (SII) announced that it would set up a ‘Centre of Excellence’ for Infectious Diseases and Pandemic Preparedness here. The centre “Dr Cyrus Poonawalla Center of Excellence for Infectious Diseases and Pandemic Preparedness” will be located at the Indian Institute of Public Health,Hyderabad.
- The CoE is being set up for providing the community a centralised location for information, resources, and support during times of public health emergencies. The centre will serve as a hub for public health education, outreach, and response efforts during outbreak of infectious diseases.
India has enough potential for recurring aircraft orders: GE Aerospace
- Leading engine maker GE Aerospace has said there is enough potential for recurring aircraft orders by Indian carriers as massive growth is happening in the country’s civil aviation space.
- Against the backdrop of Tata Group-owned Air India placing firm orders for 470 aircraft, a top official of GE Aerospace also said that India, which is the world’s third largest aviation market, has the potential for growth in both wide-body and narrow-body aircraft.
Besides, GE Aerospace’s Country Head for South Asia & Indonesia Vikram Rai said that the supply chain situation will be better this year, compared to 2022.
India saw record transplants of over 15,000 organs in 2022: Health Secretary
- India has witnessed a fast resurgence in organ transplant activities post COVID-19 and, for the first time, achieved more than 15,000 transplants a year in 2022, Union Health Secretary Rajesh Bhushan.
- Along with this, there was an annual increase of 27 per cent in the transplant numbers, Bhushan said at the “National Organ and Tissue Transplant Organisation (NOTTO) Scientific Dialogue 2023”, organised by the Union Ministry of Health.
- The event was organised to bring all the stakeholders under one roof to brainstorm ideas about interventions and best practices in the field of organ and tissue transplant that can be taken up for saving lives.
- There has been a fast resurgence in organ transplant activities post Covid, and for the first time, the country has achieved more than 15,000 transplants a year (2022).
IIT Kanpur to host 5th National Students' Research Convention from 3rd-5th March 2023
- Indian Institute of Technology, IIT Kanpur will be hosting the 5th National Students’ Research Convention 2023 (NSRC ’23). The three-day event will be conducted from March 3 to 5, 2023. NSRC 2023 theme is, ‘MedTech and Healthcare: The Welfare of Humanity’.
- The event will include workshops, lectures, and feature talks of eminent personalities and others. One of the key highlights would be the workshop on ‘Design Thinking: An Agile Tool for Medical Device Prototyping’, organized by MedTech Laboratories of IIT Kanpur. The workshop will include training on manufacturing engineering, medical devices manufacturing, and rapid manufacturing.
KVK 1st Organised Awareness Programme on Natural farming Techniques at Goma Kargil
- In Ladakh, KVK Kargil 1st organised a day-long awareness programme under Natural Farming at Gangshan Goma Kargil, where more than 40 farmers participated. During the programme, Dr Nazir Hussain, Scientist Agronomy KVK 1st Kargil explained about the importance of Natural Farming, Crop Rotation and its management, Water Conservation techniques and Organic Pest Management methods.
Amit Shah inaugurates first phase of Shiv Srishti theme park based on life of Shivaji Maharaj
- Union Home and Cooperation Minister Amit Shah inaugurated the first phase of ‘Shiv Srishti’, a theme park based on the life of Shivaji Maharaj in Pune, Maharashtra.
- Chief Minister of Maharashtra Eknath Shinde and Deputy Chief Minister Devendra Fadnavis were also present on the occasion.
New Cooperatives Policy to be unveiled soon to strengthen cooperative sector in country, says Union Minister Amit Shah
- Union Minister for Home and Cooperatives Amit Shah has said that a new Cooperatives Policy will be unveiled soon to strengthen the cooperative sector in the country.
- He was speaking in the valedictory session of the two-day Sahakar Maha Parishad organised by the Marathi daily Sakal in Pune.
First G20 meeting of Finance Ministers and Central Bank Governors to be held on Feb 24 in Bengaluru
- The first G20 meeting of Finance Ministers and Central Bank Governors under the G20 Indian Presidency will be held on 24th and 25th February in Bengaluru, Karnataka. Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das will jointly chair this meeting. Seventytwo delegations will attend the meeting.
- The G20 FMCBG meeting will be preceded by a meeting of G20 Finance and Central Bank Deputies on 22nd February. Information and Broadcasting Minister Anurag Thakur will inaugurate the G20 FCBD meeting.
India, US making fresh efforts for practical cooperation in civil nuclear energy sector
- India and the US are giving a fresh look at exploring practical cooperation in the civil nuclear energy sector after failing to move forward since inking a historic agreement over 14 years back for partnership in the area.
- Ways for bilateral cooperation in areas of clean energy including nuclear commerce under the framework of the India-US nuclear agreement of 2008 figured prominently in the talks US Assistant Secretary of State for Energy Resources Geoffrey R Pyatt had with Indian interlocutors in Delhi.
Bangladesh announces plans to procure 300 electric double-decker air-conditioned buses from India
- The government of Bangladesh has requested India to supply 100 electric buses for use in Dhaka and Chattogram this year, says Road Transport and Bridges Minister Obaidul Quader. The request was made when Deputy High Commissioner of India to Bangladesh Dr. Binoy Geogre met Minister Obaidul Quader at his office.
- They also discussed the procurement of 300 electric double decker AC buses for Bangladesh Road Transport Corporation (BRTC) under the Indian Line of Credit (LOC).
First anti-graft G20 meet to hold yoga classes
- Haryana Government has decided that the first Anti Corruption Working Group Meeting of G-20, which is scheduled to be held in Gurugram from ensuing March 1 to 4, would begin with yoga sessions for all the participants from different countries in the mornings for the three days.
UP govt provides skill birth training to bring down maternal mortality rate
- The Union Ministry of Health and Family Welfare (MoHFW) has given the National Quality Assurance Standards (NQAS) certification to district hospitals in Uttar Pradesh in recognition of the high standards of quality and performance maintained by these institutions.
- There has been rapid improvement in the health services in UP in the last six years, as a result of which the state’s district hospitals are getting first place in the whole country on the basis of National Quality Assurance (NQA).
- Moreover, the UP government is also giving Skilled Birth Attendant (SBA) training on war footing to improve and enhance the quality of health services.
- Recently, 81 medical units in 46 districts, including 43 district level, 16 community health centres and 22 primary health centres, have been awarded National Quality Assurance Certificate by the Ministry of Medical Health and Family Welfare for providing quality health services to the district hospitals of the state.
India’s first agri chatbot Ama KrushAI launched in Odisha
- Governor Prof Ganeshi Lal launched India’s first AI chatbot for the agriculture sector – Ama KrushAI at the valedictory session of ‘Krushi Odisha 2023’.
- Ama KrushAI chatbot will help farmers with the best agronomic practices, government schemes and loan products from more than 40 commercial and cooperative banks. It will run under a pilot project involving more than 10,000 farmers and will be implemented in full-fledged in the next two months.
LG Manoj Sinha inaugurates 33rd Police-Public Mela in Jammu
- Jammu and Kashmir, Lieutenant Governor Manoj Sinha inaugurated the 33rd Police-Public Mela at Gulshan Ground, Jammu.
- The Police-Public Mela has emerged as a powerful platform for police officers and public to interact and celebrate the shared heritage. He commended the Jammu and Kashmir Police Wives Welfare Association (JKPWWA) for carrying out numerous initiatives around the year to address the concerns of the families of martyrs and serving personnel.
Govt to set up north India's first nuclear plant at Gorakhpur village in Haryana
- The government is going to set up north India’s first nuclear plant at Gorakhpur village of Fatehabad district in Haryana.
- Gorakhpur village is about 150 kilometer north of the national capital.
- This was informed by Atomic Energy and Space Minister Dr Jitendra Singh in New Delhi.
Banking and Finance
Difference between rise in median MCLR, term deposits crosses 40 bps
- The rate hikes undertaken by the Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) since May to bring down the inflation rate has resulted in a 120 basis points (bps) increase in the one-year median marginal cost of funds-based lending rate (MCLR) by banks.
- However, medium-term deposit rates have moved up by 78 bps, resulting in a little over 40 bps gap in the transmission of rates between assets and liabilities.
- Since May 2022, the benchmark repo rate has gone up by 250 bps to 6.5 per cent and the external benchmark-linked loans of banks have risen by the same amount during this period.
Mutual funds' collection through NFO drops 38% to Rs 62,000 crore in 2022
- Mutual funds’ collection through new fund offerings (NFOs) remained subdued in 2022, with asset management companies (AMCs) garnering over Rs 62,000 crore through new schemes, which was 38 per cent less compared to 2021.
- However, higher number of NFOs were launched in 2022 compared to the preceding year. A total of 228 new schemes were floated last year, which was way higher than 140 launched in 2021, according to the data compiled by Morningstar India.
- In the year 2022, fund managers focused on passive funds and fixed income categories like fixed maturity plans. In fact, number of fixed income NFOs seem to have doubled in 2022 over the previous year.
- According to the data, a total of 179 open-end funds and 49 closed-end funds were launched in the calendar year 2022, and cumulatively, these funds garnered Rs 62,187 crore.
- In comparison, 140 NFOs were floated in 2021 and cumulatively, these funds were able to mobilise Rs 99,704 crore and 81 new schemes were launched in 2020 raking in Rs 53,703 crore.
Bank of Maharashtra tops list of public sector lenders in loan growth, asset quality
- Bank of Maharashtra (BoM) has emerged as the top performer among state-owned lenders in terms of loan growth percentage during the third quarter of 2022-23, an analysis of the latest financial results of public sector banks showed. The Pune-based lender recorded a 21.67 per cent increase in gross advances on a year-on-year basis, according to the latest quarterly numbers of the public sector bank (PSB).
- The bank has maintained the top slot in credit growth in percentage terms consistently for the past 10 quarters despite COVID-19 pressures.
- BoM was followed by the Union Bank of India with 19.80 per cent growth. Country’s largest lender State Bank of India (SBI) stood at fourth spot with 16.91 per cent rise in advances growth.
- However, SBI’s total loans were about 17 times higher at Rs 26,47,205 crore as compared to Rs 1,56,962 crore of BoM in absolute terms.
- In terms of Retail-Agriculture-MSME (RAM) loans, BoM has recorded the highest growth of 19.18 per cent, followed by Punjab & Sind Bank with 19.07 per cent and Bank of Baroda with 18.85 per cent on an annual basis.
- BoM and SBI were in the lowest quartile as far as gross non-performing assets (NPAs) and net NPAs were concerned, according to the quarterly financial numbers published by the public sector lenders.
- Gross NPAs reported by BoM and SBI were 2.94 per cent and 3.14 per cent of their total advances, respectively, as on December 31, 2022. Net NPAs for these two banks came down to 0.47 per cent and 0.77 per cent, respectively.
- With regard to Capital Adequacy Ratio, BoM recorded 17.53 per cent, the highest among PSBs, followed by Canara Bank at 16.72 per cent and Indian Bank at 15.74 per cent as on December 31, 2022.
- As far as deposit growth was concerned, Bank of Baroda earned the top slot with 14.50 per cent growth followed by Union Bank of India with 13.48 per cent rise on annual basis.
- BoM stood third in terms of total deposit growth among the PSBs during the third quarter, according to the data.
- In terms of total business growth, Union Bank of India recorded the highest growth of 16.07 per cent during the third quarter. It was followed by BoM with 15.77 per cent rise on an annual basis and Bank of Baroda clinched third position with 15.23 per cent.
- PSBs have logged a robust profit growth of 65 per cent at Rs 29,175 crore during the third quarter ended December 2022, with Bank of Maharashtra (BoM) emerging as the top performer in terms of percentage growth in profit.
- It recorded a 139 per cent jump in profit at Rs 775 crore at the end of December 2022, according to quarterly results declared by the lender.
- BoM was followed by Kolkata-based UCO Bank which posted a profit of Rs 653 crore, 110 per cent higher than its earnings in the third quarter of the previous fiscal.
Business and Economy
India's economy to grow at 6 pc in 2023-24: Former Niti Aayog Vice Chairman Rajiv Kumar
- India is likely to clock 6 per cent growth rate next fiscal and the country can persevere with a high growth rate because of several reforms undertaken during the last eight years by the Narendra Modi government, former Niti Aayog Vice Chairman Rajiv Kumar.
Science and Technology
Dr. APJ Abdul Kalam International Foundation & Space Zone India along with Martin Foundation launch APJ Abdul Kalam Satellite launch vehicle mission 2023 in Chennai
- Dr. APJ Abdul Kalam International Foundation and Space Zone India in association with Martin Foundation launched the APJ Abdul Kalam Satellite launch vehicle mission 2023 in Pattipolam Village, Chengalpattu near Chennai.
- The Chief Guest of the event was Telangana Governor Tamilisai Soundararajan, Former ISRO Director Mayilsamy Annadurai and Dr. Anand Mehalingam, Founder and CEO of Space India private limited were present at the event.
- AIR correspondent reports, more than 5000 students from grade 6 to 12 from different parts of the Country including 200 students from the fishermen’s community designed and constructed the rocket and 150 PICO satellite research experiment cubes that contained different payloads in today’s launch.
- The reusable rocket was made by the selected top 100 students of which 60 are from Tamilnadu. The rocket can be used for research in weather, and to assess atmospheric conditions and radiation. Martin Foundation did a total of 85 per cent of the funding for this project. The selected students have been taught about satellite technology through virtual classes, which have been followed by hands-on sessions to help them explore the project domain.
Shiv Pratap Shukla takes oath as Governor of Himachal Pradesh
- Shiv Pratap Shukla was sworn in as the 29th Governor of Himachal Pradesh at a ceremony in Shimla, the State capital.
- Acting Chief Justice of Himachal Pradesh High Court Justice Sabina administered the oath of office and secrecy to Mr. Shukla, who took the oath in Sanskrit.
B D Mishra takes oath as second Lt Governor of Ladakh
- Brigadier (Retd) B D Mishra was sworn-in as the second Lieutenant Governor of Ladakh, replacing former IAS officer Radha Krishna Mathur who held the gubernatorial post for over 27 months after the region officially became a Union Territory in 2019.
- Mishra, a former governor of Arunachal Pradesh, was administered oath by the Chief Justice of the High Court of Jammu and Kashmir and Ladakh, Justice N Kotishwar Singh at a function organised at the Raj Niwas.
Telangana: 5-time Secunderabad Cantt MLA G Sayanna passed away
- G Sayanna (72), five-time MLA from Secunderabad Cantt, passed away at a private hospital in Hyderabad.
‘King’ Kohli becomes sixth and fastest batter to score 25,000 runs across formats, beats Tendulkar
- Virat Kohli added another feather in his cap o as he became the sixth and the fastest batter in the world to score 25,000 runs across formats during the second Test against Australia, which India won by six wickets, in New Delhi.
- Kohli achieved the feat when he reached 8 during India’s run chase of 115 as he flicked Nathan Lyon for a boundary in the 12th over in the second innings. He had come into his 492nd match overall with 52 runs needed to reach the milestone. He made 44 in India’s first innings and was out for 20 in the second essay to end at 25012 runs.
Sports Ministry approves financial assistance for judokas, shuttlers and fencers
- Mission Olympic Cell has approved financial assistance towards training and Grand Slams competitions for 10 Judokas, 2 Badminton players, and 3 Fencers among others. The ten Judokas would be on training for 21 days in Uzbekistan and Georgia and will also compete in three Grand Slam events in Uzbekistan, Georgia, and Turkey during this period. Ministry of Youth Affairs and Sports in a statement said that the players’ participation fees, airfare, lodging and boarding and food costs among other expenditures would be borne by Sports Authority of India. The Mission Olympic Cell also approved expenditure for two Badminton players to compete in German Open, All England Championship, Swiss Open, Orleans Masters, Spain Masters and Orleans Masters.
- In Fencing, financial assistance has been approved for Fencers Laishram Moramba, Shreya Gupta, and Oinam Jubraj Singh to compete at Cadet and Junior Asian Championship, Tashkent in March. Financial Assistance is also being provided to Swimmer Srihari Nataraj towards participation in Singapore National Championship.
Saurashtra lift Ranji Trophy title, thrashing Bengal by 9 wickets
- Saurashtra defeated Bengal by 9 wickets at Eden Gardens, Kolkata, to lift the Ranji Trophy title for the second time in their history.1st time in 2020.
India retain Border Gavaskar Trophy, defeating Australia by 6 wickets in 2nd Test
- India have retained the Border Gavaskar Trophy for fourth straight time against Australia as the hosts have now taken an unbeatable 2-0 lead in the fourmatch series. If a series is drawn, the country holding the trophy retains it.
- India defeated Australia by 6 wickets in the second test in New Delhi on Sunday. Ravindra Jadeja with a career-best spell of 10 wickets in the match, seven of them in the second innings, was declared Man of the match.
India, Uzbekistan to hold 4th Joint Military Exercise- ‘Dustlik’ in Uttarakhand
- As part of a military-to-military exchange program between the Indian Army and Uzbekistan Army, the fourth edition of biennial training Exercise DUSTLIK (2023) will be conducted till 5th March, 2023 in Pithoragarh, Uttarakhand.
- The Indian contingent will be represented by the 14th Battalion, The GARHWAL RIFLES, part of Western Command in this bilateral exercise.
- The Uzbekistan Army will be represented by troops of the North Western Military District of Uzbekistan Army.
- This joint exercise is aimed at enhancing military capability to undertake multi-domain operations in a Sub Conventional scenario under United Nations Mandate.
Daily Current Affairs - February 20, 2023 - Consolidated
- Month-long safety drive launched by Indian Railways
- Serum Institute to establish CoE for Infectious Diseases and Pandemic Preparedness in Telangana
- India has enough potential for recurring aircraft orders: GE Aerospace
- India saw record transplants of over 15,000 organs in 2022: Health Secretary
- IIT Kanpur to host 5th National Students’ Research Convention from 3rd-5th March 2023
- KVK 1st Organised Awareness Programme on Natural farming Techniques at Goma Kargil
- Amit Shah inaugurates first phase of Shiv Srishti theme park based on life of Shivaji Maharaj
- New Cooperatives Policy to be unveiled soon to strengthen cooperative sector in country, says Union Minister Amit Shah
- First G20 meeting of Finance Ministers and Central Bank Governors to be held on Feb 24 in Bengaluru
- India, US making fresh efforts for practical cooperation in civil nuclear energy sector
Bangladesh announces plans to procure 300 electric double-decker air-conditioned buses from India
- First anti-graft G20 meet to hold yoga classes
UP govt provides skill birth training to bring down maternal mortality rate
- India’s first agri chatbot Ama KrushAI launched in Odisha
- LG Manoj Sinha inaugurates 33rd Police-Public Mela in Jammu
- Govt to set up north India’s first nuclear plant at Gorakhpur village in Haryana
- Mutual funds’ collection through NFO drops 38% to Rs 62,000 crore in 2022
- Bank of Maharashtra tops list of public sector lenders in loan growth, asset quality
- India’s economy to grow at 6 pc in 2023-24:
- Former Niti Aayog Vice Chairman Rajiv Kumar
- Dr. APJ Abdul Kalam International Foundation & Space Zone India along with Martin Foundation launch APJ Abdul Kalam Satellite launch vehicle mission 2023 in Chennai
- Shiv Pratap Shukla takes oath as Governor of Himachal PradeshB D Mishra takes oath as second Lt Governor of Ladakh
- Telangana: 5-time Secunderabad Cantt MLA G Sayanna passed away
- ‘King’ Kohli becomes sixth and fastest batter to score 25,000 runs across formats, beats Tendulkar
- Sports Ministry approves financial assistance for judokas, shuttlers and fencers
- Saurashtra lift Ranji Trophy title, thrashing Bengal by 9 wickets
- India retain Border Gavaskar Trophy, defeating Australia by 6 wickets in 2nd Test
- India, Uzbekistan to hold 4th Joint Military Exercise- ‘Dustlik’ in Uttarakhand
Daily Current Affairs - February, 2023
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