Daily Current Affairs – February 28, 2023
Daily Current Affairs - Banking - Feb 28, 2023
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PM Modi to release 13th instalment of Rs 16,800cr under PM-KISAN
- Prime Minister Narendra Modi will release the 13th instalment of financial benefits worth Rs 16,800 crore to over eight crore eligible farmers under the flagship PM-KISAN scheme.
- Under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), eligible farmers are provided with a financial benefit of Rs 6,000 per year in three equal instalments of Rs 2,000 each every four months. The fund is directly transferred to the bank accounts of the beneficiaries.
- The scheme was launched in February 2019 but is being implemented with effect from December 2018.
PM Modi addresses post-budget webinar on ‘Harnessing Youth Power – Skilling & Education’
- “In the budget of Amrit Kaal, the youth and their future have been given the most importance,” said Prime Minister Narendra Modi while addressing the post-budget webinar on ‘Harnessing Youth Power – Skilling and Education’.
India's ancient maritime journey to be recreated by 2025: Sanjeev Sanyal
- India’s ancient maritime history of voyages to Southeast Asia will be recreated with age-old stitched ship technology to sail to Bali from Odisha by Kartika Purnima of 2025, said Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister.
- The ship will be about 20-metre long, will have no GPS and would be similar to the ships made in ancient days when India had close connections with Southeast Asia via maritime trade.
DGCA approves modification for Hindustan-228 aircraft with 19 passengers
- A new variant of Hindustan Aeronautics Limited’s aircraft ‘Hindustan 228-201 LW’ has been approved by the Directorate General of Civil Aviation (DGCA), HAL.
- This variant has maximum take-off weight of 5,695 kg with 19 passenger capability, the Bengaluru-headquartered HAL.
- With this modification, the aircraft would fall in the Sub 5,700 kg aircraft category.
President Droupadi Murmu to formally inaugurate 14th Rashtriya Sanskriti Mahotsav at Bikaner in Rajasthan
- The President of India Draupadi Murmu will formally inaugurate and address the 14th edition of Sanskriti Mahotsav being held in Bikaner, Rajasthan. The President will address the Sanskriti Mahotsav being organized at Dr. Karni Singh Stadium.
- The 9-days long festival is being organized for the first time in Rajasthan.
Health Minister Mansukh Mandaviya inaugurates two-day Chintan Shivir in Hyderabad
- Union Minister of Health & Family Welfare and Chemicals & Fertilisers Dr. Mansukh Mandaviya inaugurated a two-day Chintan Shivir in Hyderabad and it is a platform for all the stakeholders in the pharma and health sectors to deliberate on pathways for cohesive and synergistic approaches to build robust and resilient regulatory systems.
Union Minister Purushottam Rupala launches phase 2 of National Surveillance Programme for aquatic animal diseases and genetic improvement programme in Chennai
- Union Minister for fisheries, animal husbandry Purushottam Rupala has launched phase 2 of the National Surveillance programme for aquatic animal diseases and genetic improvement programme in Chennai.
- Pradhan Mantri Sampada Yojana was launched with the aim to increase fish production by an additional 70 lakh tonnes and increase fish export earnings to One lakh Crore rupees in 2024 -25.
- He told that 33 Crore rupees were allocated for a period of three years for the implementation of the programme.
PM inaugurates & lays foundation stone of multiple development projects worth more than Rs 3,600 crore in Shivamogga, Karnataka
- The Prime Minister, Shri Narendra Modi laid the foundation stone and inaugurated multiple development projects worth more than Rs 3,600 crore at Shivamogga, Karnataka.
- The Prime Minister also laid the foundation stone for two railway projects in Shivamogga which include Shivamogga – Shikaripura – Ranebennur new Railway line and Koteganguru Railway coaching depot. He also laid the foundation stone for multiple road development projects to be developed at a cumulative cost of more than Rs 215 crore. He also inaugurated and laid the foundation stone of multi-village schemes worth more than Rs 950 crore under the Jal Jeevan Mission. He also inaugurated 44 Smart City Projects worth more than Rs 895 Crores in Shivamogga city.
Loan amount of around Rs 296.19 Crore sanctioned to 3083 beneficiaries under PMEGP Scheme
- In a programme organized at Krishi Vigyan Kendra, Hindaun City, in Karauli district of Rajasthan, Chairman, Khadi and Village Industries Commission (KVIC) Shri Manoj Kumar in the presence Dr. Manoj Rajoria Member of Parliament Karauli-Dholpur LokSabha of Rajasthan distributed 300 bee boxes including bee colony to beekeepers. He also released margin money subsidy of Rs. 100.63 crores to 3083 beneficiaries under PMEGP scheme with sanctioned loan of Rs. 296.19 Crores for PMEGP projects, this will create new employment opportunities for around 25,000 people.
- PMEGP scheme, more than 8 lakh projects have been approved so far, under which more than 68 lakh people have been provided employment opportunities across the country by disbursement of ‘margin money subsidy’ of more than Rs 21000 crore.
India requires $4.5 bn for meeting PLI battery manufacturing target
- India, the world’s third-largest energy consumer, requires investments worth ₹33,750 crore to achieve the government’s production-linked incentive (PLI) target of setting up 50 gigawatt hour (GWh) of lithium-ion cell and battery manufacturing plants.
- In a report, the Council on Energy, Environment and Water (CEEW) revealed that the country requires up to 903 GWh of energy storage to decarbonise its mobility and power sectors by 2030 and lithium-ion batteries will meet the majority of this demand.
India expects fuel demand to grow 4.7% in FY24
- India’s fuel demand is likely to grow 4.7% in the next fiscal year beginning on April 1, initial government estimates showed.
- Fuel consumption in 2023-24, a proxy for oil demand, could rise to 233.8 million tonnes from the revised estimate of 222.9 million tonnes for the current fiscal year ending in March, according to government forecasts.
- The estimates were released on the website of the Petroleum Planning and Analysis Cell (PPAC), a unit of the federal oil ministry. India is the world’s third-biggest oil importer and consumer.
Czech Foreign Minister Jan Lipavsky arrives in India for 3-day official visit
- Czech Republic Foreign Minister Jan Lipavsky arrived in India for a three-day official visit which is supposed to provide further momentum to India- Czech Republic bilateral relations.
India pledges to invest Rs 2 billion in Bhutan's Gyalsung Infra Project
- As a longstanding and committed development partner of Bhutan, India has extended grant assistance of Rs 2 billion for the Gyalsung Infra Project.
- During a special ceremony to mark India’s support for the Gyalsung Infra Project, the Ambassador of India to Bhutan, Sudhakar Dalela, presented the first tranche of grant assistance of Rs 1 billion to the Project Director of Gyalsung Infra at the Semtokha Dzong.
EAM S Jaishankar meets Crown Prince Frederik & Princess Mary Elizabeth of Denmark
- External Affairs Minister Dr. S Jaishankar met Crown Prince Frederik and Princess Mary Elizabeth of Denmark during their India visit.
- The Danish Royal Couple is on four days India Visit.
UP govt signs Rs 5,472 crore MoA with Tata Technologies to upgrade 150 it is
- Uttar Pradesh government has signed a Memorandum of Association (MoA) of over Rs 5,472 crore with Tata Technologies to upgrade 150 ITIs in the state.
- With the MoA, a new platform will be available to enhance the skills of the youth of the state.
- 150 ITIs will be upgraded and 35000 youth trained every year.
Japanese firm to give tech support for Kerala's first waste-to-energy plant
- Japan-based JFE Engineering Limited has agreed to provide technical support to the upcoming waste-to-energy plant at Kozhikode, Kerala Chief Minister Pinarayi Vijayan.
- Keiichi Nagaya, Director, Head of Overseas Business and Environmental Solution Sector, of the firm, met the Chief Minister here and assured assistance for the state’s first waste-to-energy treatment plant.
- The firm has the experience of installing more than 350 waste disposal plants across the world.
Country's first marina to come up at Byndoor in Coastal Karnataka to promote tourism: CM Bommai
- Karnataka Chief Minister Basavaraj Bommai has confirmed the construction of the country’s first Marina which will be constructed at Byndoor in the Udupi district. The project has been initiated to promote coastal tourism in Karnataka.
Kerala temple become India's first to induct robotic elephant for ritual duties
- The Irinjadappilly Sree Krishna Temple in Kerala’s Thrissur district has become the first in the country to use a mechanical, lifelike elephant for temple rituals.
Amit Shah to attend two-day event to celebrate 284th Jayanti of Banjara Dharmaguru Santh Sevalal Maharaj in Delhi
- Union Home Minister Amit Shah will attend a two-day event to celebrate 284th Jayanti of Banjara Dharmaguru Santh Sevalal Maharaj at Dr. Ambedkar International Centre in New Delhi.
- It is being organised under the aegis of Azadi ka Amrit Mahotsav. Union Minister of State for Culture Meenakshi Lekhi and other dignitaries from various states will also present in the event.
- Santh Sevalal Maharaj was born on 15 February 1739 at Surgondankoppa in Shivamogga district of Karnataka. He is considered a social reformer and spiritual teacher of the Banjara community. It is believed that there is a population of around 10 to 12 crore Banjara community across the country.
National Institute of Technology Karnataka establishes three centres of excellence
- National Institute of Technology Karnataka (NITK) at Surathkal in Mangaluru taluk has established three Centres of Excellence (CoE) in light of the National Education Policy (NEP) 2020 implementation.
- The three centres of excellence are the Centre for Sustainable Energy Engineering (CSEE), the Centre for Women Welfare and Social Empowerment (CWWSE), and the Centre for Public Relations, Information and Media Exchange (C-PRIME).
Banking and Finance
HDFC Life launches new ‘The Missing Dulha’ campaign
- HDFC Life, one of the leading insurers in India, has launched its latest campaign, ‘The Missing Dulha’, which consists of ten films that revolve around a groom who disappears on his wedding day.
- The campaign, as per the bank, humorously captures the essence of a traditional Indian wedding.
- Through this campaign, HDFC Life aims to deliver a simple yet relatable message about the significance of life insurance and its advantages.
Business and Economy
Essar to invest USD 3.6 bn in energy transition in UK, India
- Essar Group, invested in energy, metals and mining, infrastructure and technology sectors, announced ”the formation of Essar Energy Transition (EET) to drive the creation of the UK’s leading energy transition hub in North West England.”
- ”EET plans to invest a total of USD 3.6 billion in developing a range of low carbon energy transition projects over the next five years, of which USD 2.4 billion will be invested across its site at Stanlow, between Liverpool and Manchester and USD 1.2 billion in India.
Air India's order for 470 aircraft will be worth $70 billion: CEO Wilson
- Air India’s order for 470 aircraft from Airbus and Boeing will be worth $70 billion, the company’s Chief Executive Officer (CEO) Campbell Wilson.
- Previously, the airlines announced an order of 470 planes, including 70 wide-body aircraft. 220 of these will be bought from Boeing and 250 from Airbus. The airlines also has an option to purchase another 370 planes.
USD 523.8 million worth of onions exported from April to December 2022
- India has exported onion worth 523.8 million US dollars in between April and December last year. It also registered a 16.3 per cent increase in exports as compared to the year 2021 during the same period.
- The Commerce and Industry Ministry said that there was no restrictions or prohibitions imposed on onion export. It stated that only the export of onion seed is restricted and that too is permitted under authorisation from Directorate General of Foreign Trade.
Investing Rs 1,200 crore in EV three-wheeler, see huge impending shift in EV space: Renuka Ramnath
- Multiples Alternate Asset Management has announced a Rs 1,200 crore infusion in electric three-wheeler maker TI Clean Mobility (TICMPL), a wholly-owned subsidiary of Murugappa Group’s Tube Investments.
- The total fundraising in TI Clean Mobility is Rs 3,000 crore of which Multiples and its partners will push in Rs 1,200 crore, another Rs 1,000-plus crore will be raised from other investors, and TI will themselves be infusing Rs 750 crore.
Acquisitions and Mergers
Dr Reddy's acquires Mayne Pharma's USA prescription portfolio for $105 Mn
- Dr Reddy’s Laboratories Ltd said its subsidiary entered into a definitive agreement to acquire the US generic prescription product portfolio of Australia-based Mayne Pharma Group Limited for USD 105 million.
Shailesh Pathak appointed FICCI Secretary General
- Former bureaucrat Shailesh Pathak has been appointed as the new Secretary General of Federation of Indian Chambers of Commerce & Industry.
BJP's Khushbu Sundar Nominated As Member Of Women's Rights Body
- Actor-turned-politician and BJP leader Khushbu Sundar has been nominated as a member of the National Commission for Women (NCW).
Advocate Lakshminarayanan sworn in as additional judge of Madras High Court
- Senior advocate V Lakshminarayanan has been sworn in as an additional judge of the Madras High Court. Acting Chief Justice T Raja administered him the oath of office at a ceremony held in the High Court premises attended among others by judges and prominent persons from the bar.
Man Singh and Jyoti Gawate win New Delhi Marathon men's and women's title
- Man Singh clinched the men’s title in an extremely competitive race while Jyoti Gawate clinched the women’s title in the New Delhi Marathon.
Australia lift ICC Women's T20 World Cup Trophy beating South Africa by 19 runs in Cape Town
- In Women’s Cricket, Australia have lifted the ICC T20 World Cup Trophy for the sixth time. They defeated South Africa by 19 runs at Newlands, Cricket Ground in Cape Town.
Marathi Language Day 2023
- February 27 is a day of pride for Marathi speakers. It is celebrated as Marathi Day or “Marathi Bhasha Gaurav Din” to honour the life and works of one of the most eminent Marathi poets, V. V. Shirwadkar.
- V.V. Shirwadkar was also popularly known by his pen name, Kusumagraj.
- First successful celebration of Marathi Bhasha Gaurav Din was in 1999.
Indian Navy's aircraft carrier INS Vikramaditya carrying out sea trials post-refit
- Indian Navy’s aircraft carrier INS Vikramaditya is carrying out sea trials post-refit, adding that the aircraft carrier is expected to complete the trials soon and is expected to perform operational roles. Indian Navy operates MiG-29K fighter jets from the aircraft carrier.
- The INS Vikramaditya, formerly the Kiev-class warship Admiral Gorshkov, was inducted into service in 2014. The 45,000-tonne aircraft carrier could hold as many as twenty MiG-29K fighters, along with utility helicopters, on its flight deck.
Daily Current Affairs - February 28, 2023 - Consolidated
- PM Modi to release 13th instalment of Rs 16,800cr under PM-KISAN
- PM Modi addresses post-budget webinar on ‘Harnessing Youth Power – Skilling & Education’
- India’s ancient maritime journey to be recreated by 2025: Sanjeev Sanyal
- DGCA approves modification for Hindustan-228 aircraft with 19 passengers
- President Droupadi Murmu to formally inaugurate 14th Rashtriya Sanskriti Mahotsav at Bikaner in Rajasthan
- Health Minister Mansukh Mandaviya inaugurates two-day Chintan Shivir in Hyderabad
- PM inaugurates & lays foundation stone of multiple development projects worth more than Rs 3,600 crore in Shivamogga, Karnataka
- Loan amount of around Rs 296.19 Crore sanctioned to 3083 beneficiaries under PMEGP Scheme
- India requires $4.5 bn for meeting PLI battery manufacturing target
- India expects fuel demand to grow 4.7% in FY24
- Czech Foreign Minister Jan Lipavsky arrives in India for 3-day official visit
- India pledges to invest Rs 2 billion in Bhutan’s Gyalsung Infra Project
- EAM S Jaishankar meets Crown Prince Frederik & Princess Mary Elizabeth of Denmark
- UP govt signs Rs 5,472 crore MoA with Tata Technologies to upgrade 150 it is
- Japanese firm to give tech support for Kerala’s first waste-to-energy plant
- Country’s first marina to come up at Byndoor in Coastal Karnataka to promote tourism: CM Bommai
- Kerala temple become India’s first to induct robotic elephant for ritual duties
- Amit Shah to attend two-day event to celebrate 284th Jayanti of Banjara Dharmaguru Santh Sevalal Maharaj in Delhi
- National Institute of Technology Karnataka establishes three centres of excellence
- HDFC Life launches new ‘The Missing Dulha’ campaign
- Essar to invest USD 3.6 bn in energy transition in UK, India
- Air India’s order for 470 aircraft will be worth $70 billion: CEO Wilson
- USD 523.8 million worth of onions exported from April to December 2022
- Investing Rs 1,200 crore in EV three-wheeler, see huge impending shift in EV space: Renuka Ramnath
- Dr Reddy’s acquires Mayne Pharma’s USA prescription portfolio for $105 Mn
- Shailesh Pathak appointed FICCI Secretary General
- BJP’s Khushbu Sundar Nominated As Member Of Women’s Rights Body
- Advocate Lakshminarayanan sworn in as additional judge of Madras High Court
- Man Singh and Jyoti Gawate win New Delhi Marathon men’s and women’s title
- Australia lift ICC Women’s T20 World Cup Trophy beating South Africa by 19 runs in Cape Town
- Marathi Language Day 2023
- Indian Navy’s aircraft carrier INS Vikramaditya carrying out sea trials post-refit
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