Daily Current Affairs – February 27, 2023
Daily Current Affairs - Banking - Feb 27, 2023
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IOC to set up green hydrogen plants at all refineries; lines up Rs 2 lakh crores for net zero by 2046
- India’s top oil firm IOC will set up green hydrogen plants at all its refineries as it pivots a Rs 2-lakh crore green transition plan to achieve net-zero emissions from its operations by 2046, its chairman Shrikant Madhav Vaidya.
- The company intends to expand its refining capacity to 106.7 million tonnes per annum from 81.2 million tonnes as it sees India’s oil demand climbing from 5.1 million barrels per day to 7-7.2 million bpd by 2030 and 9 million bpd by 2040.
Ayush Ministry to organise 2-day 'Chintan Shivir' in Assam’s Kaziranga
- A two-day ‘Chintan Shivir’ will be held in Assam’s Kaziranga National Park to discuss futuristic improvements in the implementation of existing policies and programmes relating to the Ayush sector and traditional medicine.
G20 presidency: W20 inception meet to be held in Aurangabad
- The W20 (Women 20) inception meeting as part of India’s presidency of the G20 forum will take place in Aurangabad in Maharashtra. The W20 is an official engagement group under G20 and was established during the Turkish presidency in 2015.
KIIT hosts Indian Universities Forum Meet
- The KIIT DU played host to the prestigious Indian Universities Forum conclave, organised by the Times Higher Education.
- Inaugurating the event Odisha Governor Prof Ganeshi Lal emphasised the value of education for the emancipation of the masses.
- The theme of the event was ‘optimising learning landscape’.
- “The purpose of education is social upliftment, renouncing negativity and leading a fulfilling life that transforms the earth into a heaven,”.
PM Modi addresses Uttar Pradesh Rojgar Mela; says double engine govt is attaching high priority to development project in State
- Prime Minister Narendra Modi addressed the Rozgar Mela of Uttar Pradesh Government via a video message.
- He said the double engine government is attaching high priority to development project in the state.
India’s castor output seen 15% higher at 19.46 lakh tonnes for 2022-23
- Castor seed output in India is projected to increase by 15 per cent to 19.46 lakh tonnes for the year 2022-23.
- New crop has started arriving in the markets.
- The agri research agency Indian Agribusiness Systems or Agriwatch conducted two rounds of the field crop survey covering the castor-growing regions of Gujarat, Rajasthan, Andhra Pradesh and Telangana.
PLI scheme for drug consumables coming: Pharma Secretary Aparna
- The Centre will bring in production-linked incentive (PLI) scheme for drug consumables soon, S Aparna, Secretary, Department of Pharmaceuticals.
- In a panel discussion on global supply chain transformation at the 20th Edition of BioAsia 2023, the official said the government is working on a gap-filling approach to address supply chain aspects.
- The PLI scheme on consumables will cover a host of things related to vaccines and biologicals, among others.
Bihar govt plans to increase crops of mango varieties from seeds
- Concerned with the sharp decline in the farming of seedling mangoes in certain districts of Bihar, the state government has decided to conduct a study and formulate a conservation plan for increasing crops of a variety of mangoes such as ‘Jardalu’, ‘Gulab Khaas’, ‘Aamrapali’ and ‘Chausa’ from seeds.
- The Bihar State Biodiversity Board (BSBB) has signed a Memorandum of Understanding (MoU) with the Lucknow-based ICAR-Central Institute of Subtropical Horticulture (CISH) for the ‘evaluation of diversity and decline of indigenous seedling mangoes of Bihar and study for its conservation strategy’.
Delhi L-G attends inaugural event of two-day flower festival 'Palaash'
- Delhi Lt Governor Vinai Kumar Saxena visited ‘Palaash’, a two-day flower festival at the Rohini-based Swarn Jayanti Park. While appreciating the flora put on display, Saxena said that along with others, this festival was another step towards making Delhi a city of flowers. Subhasish Panda, Vice Chairman (DDA) along with officials of DDA were also present during the visit.
- The event, is named ‘Palaash’ after the flower of Butea monosperma, which blooms in the capital during the season. Palaash is also known as the “Flame of the Forest” because of its bright and refreshing fire-like blossoms and has many dimensions to itself.
Kerala CM inaugurates two-day national art festival for differently-abled
- Kerala Chief Minister Pinarayi Vijayan inaugurated ‘Sammohan’, a two-day national art festival for the differently-abled at the ‘Different Art Centre’, near Kazhakootam.
- Vijayan said the festival, which will witness the participation of over 1,500 children with special needs, is a platform to showcase their talents and usher them into the social mainstream.
- Children from nine national institute for differently-abled across the country are taking part in the festival.
- The festival supported by the Union government and the Social Justice Department of the State will also have various awareness sessions and exhibitions.
Kashmir-based bat manufacturing company signs MoUs with international boards, leagues
- A Kashmir-based cricket bat manufacturing company has signed Memorandum of Understandings (MoUs) with various international boards and leagues, in order to help them to scout young talent in the valley.
- The company, ‘Gr8 Sports’, is the first bat manufacturing company to introduce the Kashmir willow bats in international cricket. Bats manufactured by the company were used during the T20 World Cup by cricketers from Oman.
Haryana govt initiates climate-smart agriculture in 1,669 villages
- As the situation in Haryana’s 85 blocks in 19 districts has been critical with low availability of canal water and an increasing dependency on groundwater, especially for sugarcane cultivation on over 2.5 lakh acres, the BJP-led government has initiated climate-smart agriculture practices in 1,669 villages in 36 blocks.
- It is now bearing fruit in just a year, and the results are encouraging with the government saying micro-irrigation has increased the yield of fruits and vegetables by 52 per cent.
Gujarat govt distributes loans to 4,000 street vendors under PMSVANidhi
- Loans were distributed to 4,000 street vendors in Gujarat under the Centre’s Pradhan Mantri Street Vendors Atmanirbhar Nidhi Yojana in the presence of Chief Minister Bhupendra Patel.
- The PMSVANidhi scheme intends to facilitate collateral-free working capital loans of up to Rs 10,000 of one-year tenure to approximately 50 lakh street vendors across the country.
- The event for 4,000 street vendors was held at the exhibition hall of Science City, Ahmedabad, with the CM handing over loan cheques to a few beneficiaries.
Bengal govt to get Rs 2,400 cr from Centre under Samagra Shiksha Mission
- West Bengal government is all set to receive Rs 2,400 crore from Centre under Samagra Shiksha Mission, an overarching programme for the school education sector extending from pre-school to higher secondary level.
- Sources from the state education department said after every Union budget the Centre discusses with the state governments on the allocations under different centrally-sponsored schemes.
Jubilant Group to open state-of-the-art facility in Hyderabad
- Jubilant Bhartia Group will set up a state-of-the-art facility in the Genome Valley, Hyderabad.
- The announcement was made after a meeting between the company’s Founder and Co-Chairman Hari S Bhartia and Telangana Industries and IT Minister KT Rama Rao on the side lines of the ongoing BioAsia 2023 in the city.
Banking and Finance
Central Bank of India hikes FD rates, senior citizens can earn up to 7.25%
- The public sector lender Central Bank of India has hiked its interest rates on fixed deposits of less than ₹2 Cr.
- The general public will get interest rates ranging from 4.00% to 6.25% on domestic term deposits maturing in 7 days to 10 years, while senior citizens can receive interest rates ranging from 4.50% to 6.75%.
- Deposits maturing in 1 year to less than 2 years will now fetch a maximum interest rate of 6.75% for the general public and 7.25% for senior citizens.
Business and Economy
Digital economy can contribute 25% GDP, reach $7 trn by FY29: K V Kamath
- Noted banker KV Kamath, who now chairs the National Bank for Financing Infrastructure and Development (NaBFID), expects the digital sector to contribute a 25% GDP by the time the economy becomes a USD 7 trillion giant by FY29.
- Currently, the contribution of the digital economy is a low 4 per cent, whereas it is as much as 40 per cent in China.
- The government and planners see the economy becoming the third largest in the world by FY29, overtaking Japan, with a GDP of USD 7 trillion from the present USD 3.3 trillion.
India will become a $40-trillion economy by 2047, predicts Piyush Goyal
- Union Commerce Minister Piyush Goyal predicted that India would become the third largest economy in the next five years. Goyal also said that if India continue to grow like this, it will become the a $40 trillion economy by 2047 – the centenary year of India’s Independence.
- Speaking at the Asia Economic Dialogue here, Goyal said India is not only the fastest growing economy, but will continue to remain so for many decades to come.
Services exports to cross USD 300 bn this fiscal; $ 1 trn achievable by 2030: SEPC
- Services exports are recording a healthy growth rate and going by this trend, the outbound shipments will cross USD 300 billion in 2022-23, and tapping global opportunities would help achieve USD one trillion target by 2030.
- Services Export Promotion Council (SEPC) Director General Abhay Sinha said support measures in the forthcoming foreign trade policy (FTP) would help further boost the exports.
Science and Technology
3 IITB alumni develop health test kit that gives results in 30 seconds
- Three alumni of the Indian Institute of Technology Bombay have developed a smartphone-based health test kit using urine sample and claim that it gives results in 30 seconds.
- Some public health centres (PHCs) in Maharashtra’s Nashik district have been using these kits for health tests.
Indigenously developed Tejas aircraft to make debut at foreign air exercise in UAE
- Five Tejas Light Combat Aircraft (LCA) of the Indian Air Force will participate in a multilateral exercise in the United Arab Emirates (UAE) in the first participation of the indigenously developed jets in a military wargame in a foreign country.
- An IAF contingent comprising of 110 air warriors has arrived at Al Dahfra air base of United Arab Emirates for participating in the exercise Desert Flag.
- The IAF would be participating with five Tejas and two C-17 Globemaster III aircraft.
- Exercise Desert Flag is a multilateral air exercise in which air forces from the UAE, France, Kuwait, Australia, the UK, Bahrain, Morocco, Spain, Republic of Korea, and the US would also be participating.
- The exercise is scheduled from February 27 to March 17.
Daily Current Affairs - February 27, 2023 - Consolidated
- IOC to set up green hydrogen plants at all refineries; lines up Rs 2 lakh crores for net zero by 2046
- Ayush Ministry to organise 2-day ‘Chintan Shivir’ in Assam’s Kaziranga
- G20 presidency: W20 inception meet to be held in Aurangabad
- KIIT hosts Indian Universities Forum Meet
- PM Modi addresses Uttar Pradesh Rojgar Mela; says double engine govt is attaching high priority to development project in State
- India’s castor output seen 15% higher at 19.46 lakh tonnes for 2022-23
- PLI scheme for drug consumables coming: Pharma Secretary Aparna
- Bihar govt plans to increase crops of mango varieties from seeds
- Delhi L-G attends inaugural event of two-day flower festival ‘Palaash’
- Kerala CM inaugurates two-day national art festival for differently-abled
- Kashmir-based bat manufacturing company signs MoUs with international boards, leagues
- Haryana govt initiates climate-smart agriculture in 1,669 villages
- Gujarat govt distributes loans to 4,000 street vendors under PMSVANidhi
- Bengal govt to get Rs 2,400 cr from Centre under Samagra Shiksha Mission
- Jubilant Group to open state-of-the-art facility in Hyderabad
- Central Bank of India hikes FD rates, senior citizens can earn up to 7.25%
- Digital economy can contribute 25% GDP, reach $7 trn by FY29: K V Kamath
- India will become a $40-trillion economy by 2047, predicts Piyush Goyal
- Services exports to cross USD 300 bn this fiscal; $ 1 trn achievable by 2030: SEPC
- 3 IITB alumni develop health test kit that gives results in 30 seconds
- Indigenously developed Tejas aircraft to make debut at foreign air exercise in UAE
Daily Current Affairs - February, 2023
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