Daily Current Affairs – February 25, 2023
Daily Current Affairs - Banking - Feb 25, 2023
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FCI sells over 5 lakh tonnes wheat at ₹2,172/quintal in 3rd auction
- After a reduction in reserve prices of wheat by ₹2/kg, the Food Corporation of India (FCI) was able to lower the selling price by ₹1.70/kg during the third round of e-auction. As much as 5.07 lakh tonnes (lt) were sold. The continuous fall in the selling price will soon be reflected in the retail market.
- The all-India weighted average selling price was ₹2,172.08/quintal in the third round of e-auction in which FCI is expected to receive ₹1,086.1 crore, the Food Ministry.
India’s coal production expected at 850-900 million tonnes in FY23
- India’s coal production is expected to be in the range of 850-900 million tonnes (MT) in FY23, ending March, aided by the government’s push to meet the rising power demand in the world’s second biggest consumer of the key fuel.
- CareEdge in a report reiterated its expectations on India’s coal output in the current fiscal year driven by Coal India’s (CIL) expected ramp-up in production to achieve the Coal Ministry’s target to produce 1 billion tonnes (BT) by FY26 and 1.5 BT by FY30.
PM to inaugurate ‘Barisu Kannada Dim Dimava’ cultural festival
- Prime Minister Shri Narendra Modi will inaugurate ‘Barisu Kannada Dim Dimava’ cultural festival at Talkatora Stadium, Delhi.
- In line with the Prime Minister’s vision of ‘Ek Bharat Shreshtha Bharat’, ‘Barisu Kannada Dim Dimava’ cultural festival is being organized to celebrate Karnataka’s culture, traditions and history. The festival, being held under the aegis of Azadi Ka Amrit Mahotsav, will provide an opportunity to hundreds of artists to showcase Karnataka cultural heritage through dance, music, drama, poetry etc.
Namami Gange Committee approves projects worth Rs. 1278 cr to reduce pollution
- Namami Gange Executive Committee approves 9 projects worth Rs. 1278 cr for pollution abatement in the Ganga basin and Ghat development. The Committee was chaired by Asok Kumar, Director General of the National Mission for Clean Ganga (NMCG).
- Among the total 09 projects, 07 of the projects deal with reducing pollution in the Ganga basin while 02 are about building ghats. The Ministry of Jal Shakti said that under the approved projects various Sewage Treatment Plants and other work will be done to clean the river Ganga, in several states including West Bengal, Uttar Pradesh, and Madhya Pradesh.
- The project in West Bengal worth Rs. 123 crores has been approved for the creation of a 13 Minimal Liquid Discharge (MLD), Sewage Treatment Plant (STP) and a 300 KLD (Kilo Litre per Day) decentralized Sewage STP at Chakdaha Municipal Town. In Uttar Pradesh, three projects worth Rs 422 crore were approved including a project to divert 13 drains by augmenting the sewage treatment capacity of Salori STP by 43 MLD in Prayagraj. Another project in Uttar Pradesh for the rejuvenation of River Kali East by the development of an in-situ Constructed Wetland System at 8 locations in Muzaffarnagar, Meerut, Hapur, and Bulandshahar was approved costing Rs. 95.47 crores.
- Approval for the development of Atal Ghat Manjhi, Saran in Bihar was estimated at a cost of Rs.10 crores. A project for the development of two Sewage Treatment Plants (10.91 MLD and 10.66 MLD) for pollution abatement in River Ganga at an estimated cost of Rs. 94.12 crores.
- In Madhya Pradesh, a major project costing Rs. 511 crores was approved to abate pollution in Rivers Kanh and Saraswati in Indore. For the monitoring of industrial pollution, a project titled ‘Pollution Inventorization, Assessment and Surveillance on River Ganga Basin (PIAS) piloted by Central Pollution Control Board (CPCB) was approved at an estimated cost of Rs. 114.42 crores.
- Namami Gange Programme was launched in June 2014 for a period up to 31st March 2021 to rejuvenate River Ganga and its tributaries. The programme was subsequently extended up to 31st March 2026.
Technical textile industry could become 125 billion dollar industry by 2047, says Piyush Goyal
- Union Minister for Textiles Piyush Goyal has said the technical textile industry could become a 125 billiondollar industry by 2047. He added that if we are able to have an accelerated growth rate, we can even shoot the industry to 200 billion dollars. He was addressing the Keynote Session of ‘Technotex 2023: Envisioning Indian Technical Textiles @2047′, the 10th edition of the International Exhibition and Conference on Technical Textiles, at Bombay Exhibition Centre in Goregaon, Mumbai.
- Mr. Goyal informed that presently the industry stands at 22 Billion dollars, and we are able to export technical textiles worth only 2Bn.
2nd Semicon India Future Design roadshow in Bengaluru
- Union Minister of State for Skill Development and Entrepreneurship Rajeev Chandrasekhar to launch the second Semicon India Future Design roadshow in Bengaluru.
- The road show is being held to encourage startups, next generation innovators and global and Indian Semiconductor majors to invest in the semiconductor design ecosystem of India. The minister has said that India will design and co-design NextGen devices and electronics products through the Semicon India future Design program.
- During the roadshow, the minister will introduce the first group of future design startups supported under the Design Linked Incentive Scheme of Semicon India program. These designs are essential for automotive, mobility and computing areas.
Assets worth Rs 26,000 crore monetised in FY23: NITI Aayog
- The government has monetised assets worth ₹26,000 crore during FY23 against the target of ₹1.6 lakh crore for the current fiscal while proposal pipeline aggregating to ₹1.23 lakh crore is currently at various stages of processing.
- This takes the total monetisation value realized in FY22 and FY23 to ₹1.14 lakh crore which is 19% of the target of ₹6 lakh crore set under the National Monetisation Pipeline over a four year period (FY22-25) with ₹88,000 crore achieved in FY22.
India is 15% of solution G20 is looking for economic growth: Jaishankar
- External Affairs Minister S Jaishankar said India is “15 per cent of the solution” the G20 is looking for in terms of economic growth and development.
- He was speaking at the Festival of Thinkers, an event organized by Symbiosis International University.
India Centre for Lab grown Diamond proposed to be established at IIT Madras
- In Union Budget 23-24, a five-year research grant for one of the Indian Institutes of Technology (IITs) was announced to encourage the indigenous production of lab-grown diamonds (LGD) machinery, seeds and recipe.
- It has been decided to give this project to IIT- Madras after a joint determination of its capabilities by a joint committee of Government, export promotion council and Industry representatives. It is proposed to establish an India Centre for Lab grown Diamond (InCent-LGD) at IIT Madras with the estimated cost of Rs. 242.96 crores over 5 years.
SC to soon implement Neutral Citation System
- The Supreme Court of India will soon implement a uniform, reliable and secure methodology known as the ‘Neutral Citation System’ for identifying and citing decisions for all its judgments, as announced by the Chief Justice of India Dhananjaya Y. Chandrachud.
NSE Indices launches Nifty India Municipal Bond Index
- NSE Indices Ltd, an NSE arm, on has launched the country’s first ever municipal bond index.
- The new Nifty India Municipal Bond Index will track the performance of municipal bonds issued by Indian municipal corporations across maturities and having investment grade credit rating.
Annual agri-budget rises 5-fold to Rs 1.25 lakh crore since 2014: PM Modi
- India’s agriculture sector’s annual budget has increased five-fold to Rs 1.25 lakh crore since 2014, Prime Minister Narendra Modi, as he stressed that his government is focusing on progress of the farm sector and working on mission mode to reduce import dependence of food items like edible oils.
- The Prime Minister was addressing a post-budget webinar on ‘Agriculture and Cooperatives’. It is the second of a series of 12 post-budget webinars organized by the government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget 2023.
7th Annual Defence Dialogue between India and Sri Lanka held
- 7th Annual Defence Dialogue between India and Sri Lanka was held in New Delhi.
- It was co-chaired by Defence Secretary Shri Giridhar Aramane and his Sri Lankan counterpart General Kamal Gunaratne.
- During the meeting, the ongoing defence cooperation activities between the two countries were reviewed, with both sides agreeing to increase the complexity of bilateral exercises.
Germany to pursue $5.2 billion submarine deal with India during Scholz trip – sources
- Germany will pursue a $5.2 billion deal with India to jointly build six conventional submarines in the country during Chancellor Olaf Scholz’s visit.
- The naval project is the latest attempt by a Western military manufacturing power to wean New Delhi away from its dependance on Russia for military hardware.
- India is desperate to replace its ageing submarine fleet, with 11 of its 16 conventional submarines more than two decades old, and as it seeks to counter China’s growing presence in the Indian Ocean.
Rs 11,026 crores investment, 1 lakh jobs in North Bengal in 3 to 5 years: Govt
- Rs 11,026 crore is likely to be invested in north Bengal in the next 3-5 years and it will result in the creation of 1.25 lakh jobs directly or indirectly in the region.
- The North Bengal MSME Business Conclave organised in association with the Confederation of Indian Industry (CII), the government said Rs 3,526 crore will be invested in the upcoming industrial park and Rs 950 crore on tourism and tea industry.
Construction of Gurugram Metro project will begin in 2023-24: CM Khattar
- Haryana Chief Minister Manohar Lal Khattar, while presenting the Haryana Budget 2023-24 in the State Assembly, said construction work of the Gurugram Metro project will commence in 2023-24.
Rs 27 crores allotted for promotion of millets in Haryana budget FY24: Khattar
- A project of Rs 27 crore is being prepared to promote the cultivation of millets, said Haryana Chief Minister Manohar Lal Khattar while presenting the state budget for 2023-24.
- The state government has also set a target of 20,000 acres of land for the adoption of natural farming in the state.
Haryana: Medhavi Skillversity signs MoU with Shri Vishwakarma Skill University for quality vocational education, training and employability
- Medhavi Skillversity has signed an MoU with Shri Vishwakarma Skill University to provide quality vocational education and training to the youth of Haryana and enhance their employability in various sectors. The MoU was signed in presence of the Governor of Haryana Bandaru Dattatreya, Vice Chancellor Shree Raj Nehru, and Dr Kheya Bhattacharya.
Odisha economy grew by 7.8 per cent in 2022-23, to cross 8 per cent next fiscal
- Odisha’s economy has registered an impressive growth rate of 7.82 per cent in real terms against the national average of seven per cent in the current fiscal 2022-23 and is poised to grow even faster at eight to 8.5 per cent in 2023-24, the state’s economic survey report has projected.
Cotton prices in T.N. expected to be around ₹7,000 a quintal for next four months
- The Tamil Nadu Agricultural University expects cotton farmers in the State to get ₹7,000 to ₹7,500 a quintal, between March and June this year.
- According to a press release from the University, the area under cotton cultivation in 2021-2022 was 1.48 lakh hectares, which is 7.5% more than it was the previous year.
- Unlike other cotton-growing States, Tamil Nadu has three major sowing seasons for cotton: Maasipattam, Aadipattam, and Karthigaipattam.
Gujarat govt presents Rs 3.01 trillion budget with no new taxes proposed
- The Gujarat government presented a Rs 3.01 lakh crore budget with no new taxes imposed on people.
- Gujarat Finance Minister Kanu Desai presented the budgetary outlay for fiscal 2023-24 in the state Assembly.
- The Budget 2023-24 proposes a slew of schemes and projects, like doubling the insurance coverage under the Pradhan Mantri Jan Arogya-MA (PMJAY-MA) scheme to Rs 10 lakh from Rs 5 lakh and providing two gas cylinders free per year to the beneficiaries of Ujjwala scheme.
- Gujarat govt to spend around Rs 5 lakh crore on development of infrastructure facilities in next five years.
Telangana targets $250 Bn life sciences ecosystem by 2030-Minister KTR
- Aiming to position Hyderabad as the ”Health-Tech Mecca” of the world, Telangana Minister for IT and Industries K T Rama Rao said the government targets to triple the life sciences sector ecosystem in the state to USD 250 billion by 2030 from the existing USD 80 billion.
- Speaking at the 20th Edition of BioAsia 2023, a three-day life sciences conclave which began here, KTR said the state is home to over 1,000 life sciences companies globally, including the top 10 pharma firms, in their innovation journey.
Banking and Finance
Paytm brings lightning-fast UPI payments that never fail
- India’s homegrown Paytm Payments Bank is currently the only platform to exclusively offer UPI LITE payments, which enables faster real-time transactions with a single tap on the Paytm app.
- Paytm UPI LITE will never fail even during peak transaction hours, even when banks have success rate issues.
Business and Economy
India's economic growth likely to slow further to 4.6% in Oct-Dec: Poll
- India’s economic growth likely slowed further in the October-December quarter amid weakening demand and is set to lose more momentum as a series of interest rate hikes weigh on activity, according to a Reuters poll of economists.
- Gross domestic product (GDP) growth in the last quarter slipped to an annual 4.6%, according to the median forecast of 42 economists in the Feb. 10-24 survey.
- The economy had expanded 13.5% in April-June — boosted largely because of pandemic-related statistical distortions — before moderating to 6.3% in July-September.
Science and Technology
Infosys Collaborates with Microsoft to Accelerate Industry Adoption of Cloud
- Infosys a global leader in next-generation digital services and consulting, announced that it will expand its collaboration with Microsoft, to help accelerate enterprise cloud transformation journeys worldwide.
Justice S. Abdul Nazeer sworn-in as Governor of Andhra Pradesh
- Justice S. Abdul Nazeer was sworn-in as Governor of Andhra Pradesh.
- Chief Justice of Andhra Pradesh High Court Justice Prashant Kumar Mishra administered him oath of office at Raj Bhavan in Vijayawada.
Joe Biden nominates former Mastercard CEO Ajay Banga to become president of World Bank
- United States President Joe Biden has nominated former Mastercard CEO Ajay Banga to become president of the World Bank, praising his background in business in his native India and his dedication to securing private funding to assist developing nations deal with climate change.
Veteran filmmaker Saeed Akhtar Mirza appointed KR Narayanan Film Institute's new chairman
- Veteran Film Maker Saeed Akhtar Mirza has been appointed as the New Chairman for the K R Narayanan Film Institute, Kottayam, Kerala.
- Mirza, who is one of the prominent faces of Indian parallel cinema, will be replacing veteran auteur Adoor Gopalakrishnan, who resigned from his post last month due to controversies and alleged cast remarks.
Awards and Recognitions
Sajjan Jindal named EY Entrepreneur of 2022; KP Singh gets lifetime achievement award
- JSW Group CMD Sajjan Jindal named the EY Entrepreneur of the Year 2022, while real estate doyen KP Singh was honoured with the lifetime achievement award.
- The seven-member jury led by KV Kamath, former Chairman of ICICI Bank, selected Jindal as the EOY 2022 winner.
Ex-President Pratibha Patil's husband Devisingh Shekhawat dies of heart attack
- Former President Pratibha Patil’s husband Devisingh Shekhawat passed away at the age of 89 at a private hospital here following a heart attack.
Sergio Ramos retires from Spain duty with parting shot at coach
- Spain’s most capped player Sergio Ramos announced his international retirement after being told by new coach Luis de la Fuente that he was not part of his plans.
- The 36-year-old Paris St Germain defender, who won the World Cup in 2010 as well as two European Championships.
HI plans to introduce zonal system tournaments in U-17, U-19 levels
- Hockey India is planning to introduce zonal system tournaments in the sub-junior (U-17) and junior (U-19) categories across the country, said sport body’s president Dilip Tirkey.
Daily Current Affairs - February 25, 2023 - Consolidated
- FCI sells over 5 lakh tonnes wheat at ₹2,172/quintal in 3rd auction
- India’s coal production expected at 850-900 million tonnes in FY23
- PM to inaugurate ‘Barisu Kannada Dim Dimava’ cultural festival
- Namami Gange Committee approves projects worth Rs. 1278 cr to reduce pollution
- Technical textile industry could become 125 billion dollar industry by 2047, says Piyush Goyal
- 2nd Semicon India Future Design roadshow in Bengaluru
- Assets worth Rs 26,000 crore monetised in FY23: NITI Aayog
- India is 15% of solution G20 is looking for economic growth: Jaishankar
- India Centre for Lab grown Diamond proposed to be established at IIT Madras
- SC to soon implement Neutral Citation System
- NSE Indices launches Nifty India Municipal Bond Index
- Annual agri-budget rises 5-fold to Rs 1.25 lakh crore since 2014: PM Modi
- 7th Annual Defence Dialogue between India and Sri Lanka held
- Germany to pursue $5.2 billion submarine deal with India during Scholz trip – sources
- Rs 11,026 crores investment, 1 lakh jobs in North Bengal in 3 to 5 years: Govt
- Construction of Gurugram Metro project will begin in 2023-24: CM Khattar
- Rs 27 crores allotted for promotion of millets in Haryana budget FY24: Khattar
- Haryana: Medhavi Skillversity signs MoU with Shri Vishwakarma Skill University for quality vocational education, training and employability
- Odisha economy grew by 7.8 per cent in 2022-23, to cross 8 per cent next fiscal
- Cotton prices in T.N. expected to be around ₹7,000 a quintal for next four months
- Gujarat govt presents Rs 3.01 trillion budget with no new taxes proposed
- Telangana targets $250 Bn life sciences ecosystem by 2030-Minister KTR
- Paytm brings lightning-fast UPI payments that never fail
- India’s economic growth likely to slow further to 4.6% in Oct-Dec: Poll
- Infosys Collaborates with Microsoft to Accelerate Industry Adoption of Cloud
- Justice S. Abdul Nazeer sworn-in as Governor of Andhra Pradesh
- Joe Biden nominates former Mastercard CEO Ajay Banga to become president of World Bank
- Veteran filmmaker Saeed Akhtar Mirza appointed KR Narayanan Film Institute’s new chairman
- Sajjan Jindal named EY Entrepreneur of 2022; KP Singh gets lifetime achievement award
- Ex-President Pratibha Patil’s husband Devisingh Shekhawat dies of heart attack
- Sergio Ramos retires from Spain duty with parting shot at coach
Daily Current Affairs - February, 2023
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