Daily Current Affairs – February 26, 2023
Daily Current Affairs - Banking - Feb 26, 2023
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IREDA to Finance Renewable Energy Projects in Foreign Currency
- With its latest plan to finance renewable energy projects in foreign currency, IREDA is taking a significant step towards establishing India as a leader in renewable energy.
- To achieve this goal, IREDA is establishing an office in Gujarat’s GIFT City, which will be classified as an overseas office.
- The success of IREDA’s ambitious plans to finance renewable energy projects in foreign currency is heavily reliant on raising funds through Green Taxonomy. Chairman Das emphasized the importance of the Green Taxonomy, which is designed to raise approximately Rs.25 lakh crores fund for green energy projects by 2030.
Ek Bharat Shreshtha Bharat: Yuva Sangam programme kick-starts at IIT Gandhinagar
- Yuva Sangam programme to strengthen the connect between the youth of North-Eastern States and the rest of India was kick-started at IIT Gandhinagar. Renowned educationist and social activist Sathyanarayanan Mundayoor, inaugurated the combined orientation programme.
- This initiative has been taken by the Ministry of Education, Government of India, under the Ek Bharat Shreshtha Bharat programme. As a part of this initiative, 18 students and off-campus youngsters from Assam have arrived at IIT Gandhinagar to visit Gujarat, and 53 youngsters from Gujarat are on a visit to Assam. During their week-long visit, students will visit various places in these states and experience various facets of art, culture, life, and landmarks.
International Bio-resource Conclave & Ethno-pharmacology Congress 2023 kick off at City Convention Centre in Imphal
- A three-days long International Bio-resource Conclave & Ethno-pharmacology Congress 2023 kicked off at City Convention Centre in Imphal.
- Speaking in the opening ceremony, Union Minister of State for Education and External Affairs Dr. RK Ranjan said that India is known all over the world for its traditional medical practice. He said that the traditional medical practice like Ayurveda, Siddha, Unani etc has been continuing in India for many generations. India needs to highlight the importance of these practices to the world, Dr. RK Ranjan added.
Gadkari gives nod to development of Rs 1,293 crores highway project in Andhra
- Union minister Nitin Gadkari approved the development of a 32-kilometre highway from Chandrasekharapuram to Polavaram in Andhra Pradesh with an investment of Rs 1,292.65 crore under the Bharatmala project.
- The six-lane greenfield highway project on the Bengaluru-Vijayawada economic corridor will be developed on hybrid annuity model (HAM).
- Under the hybrid annuity model, 40 per cent of the project cost is provided by the government during the construction period and the balance 60 per cent as annuity payments over the operations period along with interest thereon to the concessionaire.
CSMT redevelopment project in Mumbai to be awarded in mid-March: Vaishnaw
- Union Railways Minister Ashwini Vaishnaw said the Rs 18,000-crore CSMT redevelopment project in the city will be awarded in mid-March.
- years, India will emerge as an exporter of railway technology which will be a quantum leap from being an importer for the longest time.
India Hemp Expo 2023 takes place in Mumbai
- 1st edition India Hemp Expo 2022 in Delhi, the second edition of this pioneering event takes place, at the Nehru Center Exhibition Space in Worli, Mumbai.
- The expo will be attended by the largest gathering of hemp manufacturers, traders, Ayurvedic practitioners, and stakeholders.
- This monumental occasion aims to orchestrate the global hemp industry’s expansion.
- The event showcases a wide range of hemp-related products, including hemp-based food, cosmetics, building materials, textiles, and medicines.
Unemployment rate dips to 4.1 pc in 2021-22, says latest PLF survey
- Unemployment rate or proportion of persons aged 15 years and above who could not find jobs has dipped to 4.1 per cent in July 2021-June 2022 from 4.2 per cent a year ago amid staggering impact of Covid.
- The unemployment rate was 4.8 per cent in 2019-20 (July to June), as per a statement on the Periodic Labour Force Survey (PLFS) issued by the Ministry of Statistics and Programme Implementation (MOSPI).
APEDA inks MoU with Lulu Hypermarket for export promotion of millets in GCC countries
- In a move to harness export potential of millets to the Gulf Cooperation Countries (GCCs), the Agricultural and Processed Food Products Export Development Authority (APEDA) that works under the Ministry of Commerce, Government of India, has signed a Memorandum of Understanding (MoU) with Lulu Hypermarket LLC.
- APEDA aims to promote millet products and value-added products around the world in association with Lulu Group, which is an international retail hypermarket chain that operates stores and shopping malls across Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, Egypt, India and Far East.
Nitin Gadkari approves NH project worth Rs 410.83 Crore on EPC Mode in West Bengal
- Union Minister for Road Transport and Highways Shri Nitin Gadkari approved Rs 410.83 Crore for the construction of a 4-lane Raniganj Bypass with a length of 5.261 km on NH-14 (old NH-60) in Paschim Bardhaman district on EPC (Engineering, Procurement and Construction) Mode in West Bengal.
- In a series of tweets Shri Gadkari informed that NH-14 starts from its junction with NH-12 (Old NH 34) near Morgram connecting Rampur Hat, Siuri, Raniganj, Bankura, Garhbeta, and Salbani and terminating at its junction with NH-16 (Old NH 2) near Kharagpur in the West Bengal.
PM Modi to address post-budget webinar on 'Harnessing youth power through Skilling and Education'
- Prime Minister Narendra Modi will address the post-budget webinar on ‘Harnessing youth power through Skilling and Education’. It is part of a series of 12 post-budget webinars being organized by the Government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget.
Union Minister Mandaviya to chair two-day "Chintan Shivir" at Hyderabad with focus on Drug Quality Regulation and Enforcement
- Union Health Minister Dr Mansukh Mandaviya will chairing a two-day “Chintan Shivir” in Telangana’s Hyderabad with a focus on Drug Quality Regulation and Enforcement. Union Ministry of Health & Family Welfare is organizing the Chintan Shivir on “Drugs: Quality regulation and Enforcement”.
- The venue for this event will be Shanti Vanam, Hyderabad. Eminent speakers along with Domain experts from Government, Industry fora, Startups, and Academia will also participate in this event.
PM Modi in Karnataka will inaugurate Shivamogga airport
- Prime Minister Narendra Modi will visit Karnataka and inaugurate an airport in Shivamogga and several other development projects.
Bangladesh govt signs agreement with ISA to increase use of solar energy in country
- The government of Bangladesh signed an agreement with the International Solar Alliance (ISA) to increase the use of solar energy in the country.
- The agreement was signed between the ISA Director General Ajay Mathur and the Bangladesh Power Division Secretary Md. Habibur Rahman.
- The agreement is to be implemented by December 2026.
Nepal preparing MoU with NHPC and state-run VUCL to develop hydropower project
- Nepal is preparing an MoU in which India’s hydroelectric major NHPC will collaborate with state-run VUCL to develop a 480 MW semi-reservoir hydropower project in the western part of the country at an estimated cost of Rs 92 billion. The move comes days after Nepal and India inked an agreement to increase the power import and export capacity through the Dhalkebar-Muzaffarpur transmission line from 600 MW to 800 MW.
Brinton Healthcare opens its Global R&D Centre in the UK
- Brinton Pharmaceuticals Ltd. inaugurated its Global Research and Development Centre in the United Kingdom.
- Unveiling the Global R&D Centre located at the Health Technical & Business Park, Runcorn, Cheshire, England, in the presence of Rahulkumar Darda, Chairman and Managing Director, Brinton Pharma, Minister of State at the Department for Business & Trade, UK, Nigel Huddleston.
German Chancellor Scholz begins 2-day India visit
- German Chancellor Olaf Scholz began his two-day visit to India with an aim to expand the overall bilateral ties and discuss the Ukraine conflict.
- Prime Minister Narendra Modi received Scholz at the Rashtrapati Bhavan.
AP to attract investments of over Rs 5 lakh crore at investors meet
- The Andhra Pradesh government is expecting to get investment offers of more than Rs 5 lakh crore rupees at the two-day Global Investors Summit in Visakhapatnam.
- The key sectors where huge investments from industries, both domestic and international, are expected are the automobile and electric vehicle, food processing, aerospace defence, electronics, information technology, industrial logistics and infrastructure, health and medical equipment, pharma and lifestyle, petrochemicals, tourism, textiles, skill development, start-ups and innovation, higher education and renewable energy.
Bharat Electronics opens new software development centre in Visakhapatnam
- Bharat Electronics Ltd (BEL) announced the opening of its new Software Development Centre (SDC) in Visakhapatnam to offer software as a service for various applications in the domains of both defence and non-defence.
- The newly inaugurated centre will be an extension of BEL’s software Strategic Business Unit (SBU) at the Bengaluru complex.
J&K govt extends Pradhan Mantri Fasal Bima Yojana to farmers of all 20 districts of UT
- In a significant move towards welfare of the farmers, the J&K government has extended Pradhan Mantri Fasal Bima Yojana (PMFBY) to the farmers of all 20 districts of the Union Territory.
- PMFBY was earlier available to farmers in only four districts of J&K.
Three-day Ellora Ajanta International Festival 2023 to begin
- In Maharashtra, a three-day Ellora Ajanta International Festival 2023 is set to take place in Aurangabad. The festival is a celebration of the cultural heritage and diversity of the region and promises to be a feast for the senses.
- The Union State Minister for Finance Dr. Bhagwat Karad will inaugurate the festival.
- The festival will feature a range of events, including live music performances, dance shows, art exhibitions, and food festivals. Classical Singer Padambhushan Rashid Khan, Mahesh kale, Shankar Mahadevan, Tabla player Padamshri Vijay Ghate, Flute player Pandit Rakesh Chaoursiya, Classical Dancer and actress Mrunmayee Deshpande, Bhargavi Chirmule, Prarthana Behere etc will perform during the festival.
Bihar cabinet approves USD 50,000 for developing fog alert system with help of US-NCAR
- The Bihar cabinet approved USD 50,000 (about Rs 41.41 lakh) for developing an early warning system for dense fog and cold wave conditions in collaboration with the US National Center for Atmospheric Research (US-NCAR).
Business and Economy
ACRE offers State Bank of India Rs 230 crore for Visa Steel loans
- Ares SSG Capital-backed Asset Care and Reconstruction Company (ACRE) has given a binding offer of ₹230 crore to the State Bank of India to acquire ₹697.2 crore outstanding loans given to Visa Steel.
ABB to invest Rs 1,000 crores in India in next 5 years; new facility in Nashik
- Electrification and automation company ABB India announced to invest Rs 1,000 crore in the country in the next five years.
- The company, which inaugurated a new facility in Nashik, will be investing the money in adding capacity across the country, its country head and managing director Sanjeev Sharma.
Power Grid Corp board clears investment worth over Rs 803 crore
- Power Grid Corporation board approved investment of over Rs 803 crore for various electricity transmission projects in the country.
- The project includes a scheme to relieve high loading of WR-NR Inter Regional Corridor (400 kV Bhinmal-Zerda line) at an estimated cost of Rs 200.58 crore scheduled to be commissioned by May, 2024.
- The other project is a transmission system for the augmentation of ISTS for interconnection of HVPNL Transmission Schemes at an estimated cost of Rs 107.77 crore scheduled to be commissioned progressively from February, 2024 to July, 2024.
Tube Investment India's subsidiary TI Clean Mobility to raise Rs 3,000 crore by March 2024
- Tube Investment India’s wholly-owned subsidiary TI Clean Mobility (TICM) will raise Rs 3,000 crore by March 2024 to fuel its electric vehicle business.
- Of this, TII (Tube Investment India) has already invested Rs 639 crore.
Acquisitions and Mergers
KFintech buys 25.63% stake in account aggregator MoneyOne's parent
- Financial services firm KFin Technologies (KFintech) has entered the account aggregator business with the acquisition of 25.63 per cent stake in Fintech Products and Solutions India (FPSIPL) for Rs 6.5 crore.
- FPSIPL owns MoneyOne, which provides technology solutions to banking and financial services companies, has an account aggregator (AA) licence.
Novartis appoints Gilbert Ghostine as Chairman-Designate of Sandoz Board of Directors
- Novartis Board of Directors announced the appointment of Gilbert Ghostine as Chairman-designate of the new Board of Directors of Sandoz.
- Ghostine has served as CEO of Switzerland Geneva-based Firmenich, the world’s largest privately owned perfume and taste company, since 2014.
Lt Gen RS Reen takes over as Director General Quality Assurance
- Lt Gen RS Reen took over as Director General Quality Assurance.
- The Officer has headed a Senior Quality Assurance Estt., Brig at Headquarters, Directorate General of Quality Assurance (DGQA) and was Controller (Missile System) in Secunderabad. The Officer headed the DQA(L) as Additional Director General (Electronics) at HQ DGQA, New Delhi.
Sunil Mehta resigns as Adani Green Energy director, to join IndusInd Bank
- Sunil Mehta has informed the company that pursuant to RBI approval, he has been appointed as part-time/non-executive Chairman of IndusInd Bank Ltd Mehta has resigned as non-executive and independent director of Adani Green energy.
Former Pakistan President Pervez Musharraf passes away in Dubai
- Pervez Musharraf, former President of Pakistan, passed away after a prolonged illness at a hospital in Dubai.
- He was 79. Musharraf had been undergoing treatment for an ailment at an American Hospital Dubai.
- Musharraf has been declared a fugitive in the former Prime Minister Benazir Bhutto murder case and Red Mosque cleric killing case.
- The former President, living in Dubai since 2016, was facing a treason case for suspending the Constitution in 2007.
- Musharraf was born on August 11, 1943, in Delhi and completed his early education at St Patrick’s High School in Karachi. The former president pursued higher education at Forman Christian College in Lahore.
Awards and Recognitions
Hari Balakrishnan wins 2023 Marconi Prize
- Computer scientist Hari Balakrishnan has been awarded the 2023 Marconi Prize. Dr. Balakrishnan is a professor in the Department of Electrical Engineering and Computer Science, Massachusetts Institute of Technology (MIT).
- The Marconi Prize is a top honour for computer scientists and is awarded by the U.S.-based Marconi Foundation. It is given to those “who have made a significant contribution to increasing digital inclusivity through advanced information and communications technology.”
J&K wins best adventure tourism destination award
- The India Today Tourism Survey has chosen Jammu & Kashmir Tourism for best adventure tourism award. The awards were given away at New Delhi by Union Minister of State for Culture & Parliamentary Affairs, Arjun Ram Meghwal.
- The award has been given to the J&K Tourism Department in recognition of its efforts in promoting ‘Gulmarg’ as an adventure destination of international order.
Abhay K. gets KLF Book Award for 'The Book of Bihari Literature'
- Odisha Governor Ganeshi Lal handed over the Kalinga Literature Festival Book Award to Abhay K. in a ceremony held in Bhubaneswar at Kalinga Literature Festival.
- ‘The Book of Bihari Literature’ edited by Indian poet-diplomat Abhay K. and published by HarperCollins India has received The Kalinga Literary Festival Book Awards 2022 in KLF Lifestyle/Biography/Environment & Emerging Trend Book Award – Category.
Avani Prashanth wins Queen Siriki title, Indian team finishes best-ever in second place
- Avani Prashanth created history by becoming the first Indian winner of the 43rd Queen Sirikit Cup in the Philippines a record-breaking 10 shots ahead of second-placed New Zealander Fiona Xu (six-under 282).
- Rianne Mikhaela Malixi of the Philippines and Korea’s Hyunjo Yoo finished tied for third place on five-under 283 at the Manila Southwoods Golf and Country Club.
World Peace and Understanding Day 2023
- World Peace and Understanding Day is commemorated on February 23, every year.
- This day commemorates the anniversary of the formation of Rotary International. Attorney Paul Harris from Illinois organised a meeting with his three friends in a downtown office building in Chicago on February 23, 1905, where the idea of Rotary Club took shape for the first time.
- They officially adopted the name Rotary International in 1922.
Central Excise Day 2023
- Every year, on February 24, Central Excise Day is celebrated across the entire country to encourage the excise department’s employees to perform their duties in an efficient manner throughout India so that corruption can be prevented in the goods manufacturing industry.
- Central Excise Day also commemorates the Central Excise and Salt Act, which was passed on February 24, 1944. Customs, Goods and Services Tax (GST), Central Excise, Service Tax (CST), and Narcotics are administered by the Central Board of Indirect Taxes and Customs (CBIC) in India.
Daily Current Affairs - February 26, 2023 - Consolidated
- IREDA to Finance Renewable Energy Projects in Foreign Currency
- Ek Bharat Shreshtha Bharat: Yuva Sangam programme kick-starts at IIT Gandhinagar
- International Bio-resource Conclave & Ethno-pharmacology Congress 2023 kick off at City Convention Centre in Imphal
- Gadkari gives nod to development of Rs 1,293 crores highway project in Andhra
- CSMT redevelopment project in Mumbai to be awarded in mid-March: Vaishnaw
- India Hemp Expo 2023 takes place in Mumbai
- Unemployment rate dips to 4.1 pc in 2021-22, says latest PLF survey
- APEDA inks MoU with Lulu Hypermarket for export promotion of millets in GCC countries
- Nitin Gadkari approves NH project worth Rs 410.83 Crore on EPC Mode in West Bengal
- PM Modi to address post-budget webinar on ‘Harnessing youth power through Skilling and Education’
- Union Minister Mandaviya to chair two-day “Chintan Shivir” at Hyderabad with focus on Drug Quality Regulation and Enforcement
- PM Modi in Karnataka will inaugurate Shivamogga airport
- Bangladesh govt signs agreement with ISA to increase use of solar energy in country
- Nepal preparing MoU with NHPC and state-run VUCL to develop hydropower project
- Brinton Healthcare opens its Global R&D Centre in the UK
- German Chancellor Scholz begins 2-day India visit
- AP to attract investments of over Rs 5 lakh crore at investors meet
- Bharat Electronics opens new software development centre in Visakhapatnam
- J&K govt extends Pradhan Mantri Fasal Bima Yojana to farmers of all 20 districts of UT
- Three-day Ellora Ajanta International Festival 2023 to begin
- Bihar cabinet approves USD 50,000 for developing fog alert system with help of US-NCAR
- ACRE offers State Bank of India Rs 230 crore for Visa Steel loans
- ABB to invest Rs 1,000 crores in India in next 5 years; new facility in Nashik
- Power Grid Corp board clears investment worth over Rs 803 crore
- Tube Investment India’s subsidiary TI Clean Mobility to raise Rs 3,000 crore by March 2024
- KFintech buys 25.63% stake in account aggregator MoneyOne’s parent
- Novartis appoints Gilbert Ghostine as Chairman-Designate of Sandoz Board of Directors
- Lt Gen RS Reen takes over as Director General Quality Assurance
- Sunil Mehta resigns as Adani Green Energy director, to join IndusInd Bank
- Hari Balakrishnan wins 2023 Marconi Prize
- J&K wins best adventure tourism destination award
- Abhay K. gets KLF Book Award for ‘The Book of Bihari Literature’
- Avani Prashanth wins Queen Siriki title, Indian team finishes best-ever in second place
- World Peace and Understanding Day 2023
- Central Excise Day 2023
Daily Current Affairs - February, 2023
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