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Daily Current Affairs – February 23, 2023

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Daily Current Affairs - February 23, 2023

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National News

Cabinet approves signing of India-Guyana air services agreement

The Union Cabinet approved the signing of an air services agreement between India and Guyana that will pave the way for flight services between the two countries.
The agreement will come into force after the exchange of diplomatic notes between the parties confirming that each party has completed the necessary internal procedure for entry into force of the pact.

Share of renewable energy in ports to increase to 60 pc: Sarbanada Sonowal

The consultative committee for the Ministry of Ports, Shipping and Waterways (MoPSW) held a discussion on ‘Green Port and Green Shipping’ in Mumbai.
As per the Ministry of Ports, Shipping and waterways “Under the Green Shipping and Green Shipping initiative of MIV 2030 major ports have implemented and initiated various activities that would help in reducing the GHG (Green House Gases) emissions from the Port and Shipping sector and help in achieving the targets set by the Government for making the maritime sector green and sustainable. Activities like Shore-to-Ship power, use and promotion of electrically powered Port equipment, use of alternate fuels like LNG/CNG, Storage and bunkering facilities for environment friendly fuels like LNG, CNG, Hydrogen, Ammonia etc., transition towards renewable sources of energy including Solar Power, Wind Power, Tidal power etc. have already been initiated at many of the Major Ports of the country.

4-lane section from Phagwara to Rupnagar on NH-344A being executed at Rs 1,367 crore: Gadkari

Union Minister Nitin Gadkari said the four-lane wide section from Phagwara to Rupnagar on NH-344A is being executed in hybrid annuity mode at a cost of Rs 1,367 crore.
Under the hybrid annuity model, the government provides 40 per cent of the project cost to the developer to begin work and the remaining investment is made by the developer.

Semiconductor manufacturing to start very soon in India: IT secretary

Electronics and IT secretary Alkesh Kumar Sharma said that the production of semiconductors in the country will start very soon.
He was responding to a query around plan of action of the Ministry of Electronics and IT after state-owned company Energy Efficiency Services Limited (EESL) raised the issue of shortage of electronic chip and printed circuit board (PCB or motherboard) hindering domestic production of electric meters.

Union Cabinet approves mandatory packaging norms for Jute year 2022-23

The Union Cabinet approved the mandatory packaging norms for the Jute year 2022-23. According to the norms, 100 percent reservation of the foodgrains and 20 percent reservation of the sugar will be compulsorily packed in jute bags.

Term of 22nd Law Commission extended till August, 2024

The Union Cabinet extended by one-and-a-half year the term of the 22nd Law Commission which is mandated to identify laws which are “no longer relevant” and recommend for their repeal.
According to an official release, the term of the panel has been extended up to August 31, 2024. The commission’s three-year term.
The 22nd law panel was constituted for a period of three years on February 21, 2020 and its chairperson, Justice Rituraj Awasthi (retd), assumed office on November 9, 2022.

India can achieve its goal of being carbon neutral much before its target of 2070: IMF MD

India, which has taken it upon itself to be carbon neutral by 2070, could achieve this ambitious goal even earlier, International Monetary Fund Managing Director Kristalina Georgieva.

International News

UK overtakes India as the world’s sixth-biggest equity market

The UK has surpassed India as the world’s sixth-largest equity market for the first time in almost nine months.
The combined market capitalization of primary listings in the UK, excluding ETFs and ADRs, reached about $3.11 trillion, some $5.1 billion higher than their Indian equivalents, according to data compiled by Bloomberg.

India-Bangladesh cycle rally participants pay tribute to Language Martyrs in Dhaka

The 15-member team of the international Cycle expedition ‘India-Bangladesh peace and Friendship bicycle rally’ paid tribute to the Language Martyrs at the Central Shaheed Minar in Dhaka on on the occasion of the International Mother Language Day.
The group of cyclists had started from Kolkata.After arriving in Dhaka, they visited the Bangabandhu Sheikh Mujib Memorial to pay respect to the Father of the nation Sheikh Mujib.
Later, they visited some of the prominent cultural groups in Dhaka and performed songs of love and language solidarity.

State News

Yogi govt aims for Atmanirbhar UP, USD 1 trillion economy with Rs 7 lakh crore budget for FY24

The Uttar Pradesh government presented the budget FY24 with an aim to lay the foundation for a self-reliant Uttar Pradesh and focus on the all-around development of the state for making it a USD 1 trillion economy.
The budget of Rs 6,90,242.43 crore for FY24 was the biggest in the state’s history.
Government’s first budget in 2017 was dedicated to farmers, budget in 2018 for infrastructure and industrial development, 2019 for women empowerment, 2020 for youth power, employment and infrastructure development, 2021 for self-reliance and empowerment, 2022 ‘from antyoday’ to ‘atmanirbhar’ (self-reliance).

UP Finance Minister proposes Rs 3,600 crores to provide tablets/smartphones to eligible students under Swami Vivekananda Youth Empowerment Scheme.

UP Finance Minister proposes Rs 3,600 crores to provide tablets/smartphones to eligible students under Swami Vivekananda Youth Empowerment Scheme.

Noida International Airport to be operational by Sep, 2024, informed the UP Government

The much-anticipated Noida International Airport– the country’s largest airport, is set to open in September 2024.
The airport’s construction in Greater Noida in the National Capital Region (NCR), has been accelerated with nearly all of the requisite land obtained.

J-K has become champion in digital transactions in country: L-G Manoj Sinha

In the last 2.5 years, Jammu and Kashmir has become the champion of the country as far as digital transactions are concerned.
We have built a digital society, offering 446 services online, and our entire administration is paperless. J-K is witnessing a digital revolution.

BEST's first electric double decker bus hits Mumbai roads

The first airconditioned electric double decker bus (e-bus) of the civic-run Brihanmumbai Electric Supply and Transport (BEST) received overwhelming response as it was introduced on the city roads.
BEST currently has fewer than 50 diesel-run double decker buses, and the working life of most of them is about to end this year. Hence, the BEST administration has decided to induct 900 new AC double decker e-buses this year.
The first double decker e-bus was introduced on the crowded route number 115 between CSMT and NCPA in South Mumbai.
The red and black e-bus—one of 200 buses BEST has hired on wet lease from Switch Mobility, a subsidiary of Ashok Leyland.

Delhi Metro to launch virtual shopping app

Delhi Metro will soon launch India’s first virtual shopping app called Momentum 2.0 for metro commuters to purchase products, book services and collect orders at the destination stations.
The Delhi Metro Rail Corporation has revealed that the app will also provide features such as instant recharge of metro smart cards and smart payment options for other utility services.
Momentum 2.0 will provide users direct access to custom-made services such as last-mile connectivity options, e-shopping, and digital lockers for quick and safe deliveries.

Karnataka Govt tables supplementary estimates of Rs 11,267 crore

The state government tabled the third and final instalment of supplementary estimates of Rs 11,267 crore for 2022-23. This includes Rs 30 crore as helicopter charges for the chief minister, ministers, governor and other dignitaries.
Rs 5 crore has been allocated to the Ananthakumar Trust and Rs 5 crore for the construction of Jagannath Joshi Centenary Bhavan in Belagavi.
Rs 300 crore has been given to BMTC, Rs 400 crore to the Northwest Karnataka Road Transport Corporation, Rs 75 crore to Kalyana Karnataka Road Transport Corporation and Rs 225 crore to Karnataka State Road Transport Corporation to clear their statutory dues. The state government is also allotting Rs 500 crore to the BBMP to pay pending bills and Rs 120.46 crore to clear dues for works taken up under MNREGA.

Banking and Finance

ADB pledges $25 billion for India's infra, social and green needs

The Asian Development Bank (ADB) committed up to $25 billion for the next five years to fund India’s infrastructure creation under the PM Gati Shakti initiative as well as social development and climate action to help the country meet its priority development needs.

UPI now available to travellers from G-20 countries at Bengaluru, Mumbai and New Delhi airports

Eligible travellers from G-20 countries will be issued Prepaid Payment Instrument (PPI) wallets linked to Unified Payments Interface (UPI) at Bengaluru, Mumbai, and New Delhi international airports, according to the Reserve Bank of India.

Business and Economy

Samsung Electronics to manufacture Ambarella's automotive chips: Report

Samsung Electronics said that it will manufacture advanced automotive semiconductors for the US chip design company Ambarella.
Samsung will produce the Santa Clara-based chip company’s automotive artificial intelligence central domain controller CV3-AD685, using its 5-nanometer (nm) process technology.
Ambarella’s CV3-AD685 System-on-Chip (SoC) is used for advanced driver assistance systems, which serve as the brain of an autonomous and self-driving vehicle.

Indian economy expected to contribute more than 15% of global growth: IMF MD

The emerging markets and developing economies are expected to account for around 80 per cent of the global growth this year and the next.
Of this, India alone is expected to contribute over 15 per cent, said the International Monetary Fund’s Managing Director Kristalina Georgieva.

Mahindra & Mahindra pushes EV asset transfer to 2026

Mahindra & Mahindra announced that the company entered into an asset transfer agreement with its subsidiary Mahindra Electric Automobile Limited (MEAL) for the transfer of assets related to four-wheeler passenger electric vehicles.
MEAL was incorporated in 2022 and the balance of assets will be transferred by June 30, 2026.
The investment of up to ₹1,925 crore in EVCo by the company and BII each would take place in two or more tranches i.e. investment of up to ₹1,200 crore will happen on fulfilment of conditions precedent and is expected to be completed not later than March 31, 2024.

Acquisitions and Mergers

Microsoft inks Nvidia game deal to assuage regulators over Activision merger

Microsoft Corp has struck a 10-year deal to bring “Call of Duty” and other Activision games to Nvidia Corp’s gaming platform if the Xbox maker is allowed to complete its much-contested $69 billion acquisition of Activision.
Regulators and competitors like Sony have come out hard against the proposed Microsoft-Activision tie-up, and an Nvidia deal could allay concerns by ensuring more ways for consumers to get games controlled by Microsoft.

Sapphire Foods to increase stake in Maldives-based GFIPL from 51% up to 75%

Sapphire Foods India Ltd (SPIL) announced to increase its stake in GIFPL to 75 per cent from the current 51 per cent Gamma Island Food Private Ltd (GIFPL) operates Pizza Hut and KFC restaurants in Maldives under franchisee agreements.
The Board of Directors of Gamma Pizzakraft (Overseas) Pvt Ltd (GPOPL), wholly-owned subsidiary of SPIL, has considered and approved subscription of upto 81,914 Equity Shares of GIFPL, subsidiary of GPOPL and step-down subsidiary of the Company, for a total consideration of upto 1.88 crore Maldivian Rufiyaa (Rs 10.15 crores).

Appointments

Sanjay Nayar assumes position of vice-president of Assocham

Associated Chambers of Commerce and Industry (Assocham) on announced the appointment of global financial markets expert Sanjay Nayar as its new vice-president.
Sanjay Nayar who is a senior finance professional in the private equity as well as banking landscape in India, has nearly four decades of experience in the global as well as Indian financial markets.
At present, he is the founder and chairman of early-stage technology fund Sorin Investment Fund.
In addition, Nayar also serves as a non-executive director at the e-commerce company Nykaa founded by him and his wife Falguni Nayar.

Vardhini Kalyanaraman appointed Additional Director on Dhanlaxmi Bank’s Board

The Board of Directors of Dhanlaxmi Bank has appointed Vardhini Kalyanaraman as Additional Director (Independent Category) on the Board of the Bank with effect from February 23, 2023.

Obituary

Subi Suresh, Malayalam actress and anchor, dies at 41

One of the renowned Malayalam actresses and TV anchors Subi Suresh passed away.
The 41-year-old actress was reportedly suffering from liver ailments and was undergoing treatment at a hospital in Kochi.

Sports News

84th edition of Senior National Badminton Championships to kick off in Pune

75th Inter State-Inter Zonal Badminton Championships and the 84th Senior National Badminton Championships to be played at the Balewadi stadium in Pune

Rudrankksh wins individual gold in 10m air rifle competition

Reigning world champion Rudrankksh Patil won the gold medal in the men’s 10m air rifle competition against Germany’s Maximilian Ulbrich in the ISSF Shooting World Cup.

Tilottama Sen wins bronze medal in Women’s 10m Air Rifle at ISSF World Cup at Cairo in Egypt

Indian teen Tilottama Sen has won bronze medal in the women’s 10m Air Rifle at ISSF World Cup at Cairo in Egypt.
The 14-year-old Sen won second bronze for India, fifth overall after ending the top eight ranking round with a score of 262.
Great Britain’s Seonaid Mcintosh won gold and Switzerland’s Olympic Champion Nina Christen came second to win silver.

Sports News

World Thinking Day 2023

Every year on February 22nd, the World Organization of Girl Guides and Girl Scouts (WAGGGS) observes World Thinking Day.
The first World Thinking Day was established in 1926 to commemorate Lord Robert Baden-Baden’s birthday and Powell’s, who founded the scouting movement.
“Our Planet, Our Peaceful Future,” the theme of World Thinking Day 2023.