Daily Current Affairs – March 01, 2023
Daily Current Affairs - Banking - March 01, 2023
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Union Minister Parshottam Rupala inaugurates Grand start-up Conclave in Hyderabad
- Union Minister for Fisheries, Animal Husbandry and Dairying Parshottam Rupala inaugurated the ‘Grand start-up Conclave’ in Animal Husbandry and Diary at a Convention Centre in Hyderabad. Ministers of State for I&B, Dr L Murugan and MoS Animal Husbandry Dr Sanjeev Kumar Balyan along with State Minister for Animal Husbandry and Fisheries T Srinivas Yadav were present at the event.
- The Grand Start up Conclave is aimed at promoting existing and emerging startups in the livestock, dairy, and animal husbandry sectors in the country.
- The event will bring together entrepreneurs, investors, and industry experts to share their ideas.
Eleven Day Festival Aadi Mahotsav displaying products by tribal artisans concludes
- After picking up in 2021 from pandemic lows in the preceding year, the number of subscribers under the new pension scheme (NPS) of both the central and state governments, including public sector enterprises, declined 8.8 per cent to 565,500 in 2022.
- Of a total of 118,020 new subscribers that joined NPS in 2022 under the central government, the share of young subscribers (18-28 years) declined to 65.2 per cent, from 67.8 per cent in the preceding year.
Blue economy occupies vital position in India's economic growth: CAG
- The blue economy occupies a vital position in India’s economic growth and it could well be the next multiplier of GDP and well-being, provided sustainability and socio-economic welfare are kept at the centre stage, said CAG G C Murmu.
- India has a 7,517 km long coastline that is home to nine coastal states and 1,382 islands. The coastal economy sustains over 4 million fishermen and other coastal communities.
- There are nearly 199 ports, including 12 major ports that handle approximately 1,400 million tons of cargo each year, Comptroller & Auditor General of India (CAG).
Rupala to inaugurate startup conclave for livestock & dairy sectors
- Union Minister of Fisheries, Animal Husbandry and Dairying Parshottam Rupala will inaugurate a grand startup conclave for livestock & dairy sectors to be held in Hyderabad.
- The conclave, in collaboration with National Dairy Development Board, the Telangana government and industry body CII, aims to promote startups in the livestock, dairy, and animal husbandry sectors.
Govt offers 5G Test Bed free of cost to Start-ups and MSMEs up to Jan 2024
- The Department of Telecommunications (DoT) under the Ministry of Communications has offered the usage of 5G Test Bed free of cost to the Start-ups and MSMEs recognised by the Government of India up to January 2024.
- All 5G stakeholders i.e. Industry, Academia, Service Providers, R&D Institutions, Govt. Bodies, Equipment Manufacturers etc. can utilise this facility at a very nominal rate.
- This is being announced in order to encourage usage of the Test Bed and give a fillip to the development of indigenous technologies/ products in line with ‘Aatmanirbhar Bharat’ vision.
- Several start-ups and companies are already using the Test Bed for testing their products and services.
Gadkari inaugurates 7 national highway projects with Rs 6,500-cr investment in UP's Ballia
- Union Minister for Road Transport and Highways Nitin Gadkari inaugurated seven national highway projects with an investment of Rs 6,500 crore in Chitbada village, Ballia, Uttar Pradesh.
- The construction of Ballia Link Expressway, it would be possible to reach Patna from Lucknow through Purvanchal Expressway in just four and a half hours.
AISTA cuts sugar production estimate down to 33.5 million tonnes in 2022-23 season
- India’s sugar production is projected to decline by 1 million tonne to 33.5 million tonnes in the ongoing 2022-23 season on account of lower sugarcane yields and sugar recovery, trade body AISTA.
- Earlier, the All India Sugar Trade Association (AISTA) estimated sugar production at 34.5 million tonnes for the 2022-23 season (October-September).
PM Modi dedicates redeveloped Belagavi Railway Station building to nation
- The Prime Minister, Shri Narendra Modi laid the foundation stone and inaugurated multiple development projects worth more than Rs 2,700 crore in Belagavi, Karnataka.
- The Prime Minister dedicated the redeveloped Belagavi Railway Station building to the nation.
- He also laid the foundation stone of six multi-village scheme projects under Jal Jeevan Mission.
Govt approves $3.9 billion Hydropower project near China border
- The Indian Government has approved its largest ever hydropower project in the mountainous northeastern region- Dibang Multipurpose Project (MPP). The project bordering China has received an approval of estimated investment of 319 million rupees. The project will be developed by NHPC Limited.
- The 2,880-megawatt Dibang project in Arunachal Pradesh is estimated to take nine years to build.
- When it is finished, the 278-meter-tall dam will be India’s tallest.
- The Project is in the Lower Dibang Valley District of Arunachal Pradesh, on the Dibang River.
- The government of Arunachal Pradesh will receive 1346.76 MU, or 12 percent of the project’s cost, upon completion.
- Over the course of the project’s forty years, the benefit to Arunachal Pradesh of free electricity and a contribution to the Local Area Development Fund will total ₹26785 crore.
PM of Italy Giorgia Meloni on 2 days visit to India
- Prime Minister of Italy Giorgia Meloni will be on two days visit to India.
- She will be accompanied by Deputy Prime Minister and Foreign Minister Antonio Tajani and a high-powered business delegation.
- The Italian Prime Minister will be the Chief Guest and Keynote Speaker at the 8th Raisina Dialogue, 2023.
INS Sukanya arrived at Port Colombo of Sri Lanka on official visit
- The Indian Naval Ship, INS Sukanya arrived at the Port Colombo of Sri Lanka on an official visit.
- The 101 metre long Offshore patrol vessel along with 106 crew members, was welcomed by the Sri Lanka Navy. Commanding Officer, Commander Pranav Anand called on Western Naval Area Commander, Rear Admiral, Suresh De Silva at the Sri Lankan Western Naval Command Headquarters.
Sri Lanka’s Foreign Affairs Minister M.U.M. Ali Sabry to be on official 3-day visit to India to attend 8th edition of Raisina Dialogue
- Sri Lanka’s Foreign Affairs Minister M.U.M. Ali Sabry will be on an official 3-day visit to India to attend the eighth edition of the Raisina Dialogue. The dialogue is India’s premier conference on geopolitics and geo-economics which will be held in New Delhi.
- The Minister is scheduled to participate in two special panel discussions on the topics “Healing a Divided World” and “Bytes of Promise: How can Technology Lift Communities”.
India a global strategic partner of US, says official
- India is a global strategic partner of the US which has a wide, broad, deep relationship with the country, the Biden administration has said, as Secretary of State Antony Blinken left for New Delhi to attend a host of key conferences including the G20 foreign ministers’ meeting.
- Blinken will also attend a Quad ministerial meeting and hold a bilateral talk with External Affairs Minister S Jaishankar.
Agtech firm Gramik to expand operations in UP, Maharashtra and enter MP
- Agritech firm Gramik, which is mainly into input supplies and advisory services, aims to cover the entire Uttar Pradesh from its current presence in 12 districts and more districts in Maharashtra from three now while entering Madhya Pradesh during the next three years.
75% of households in Manipur receive tap water under Jal Jeevan Mission
- In Manipur, seventy-five percent of households received tap water under the Jal Jeevan Mission which is a centrally sponsored scheme of the Central Government, said the State Public Health Engineering Department Minister L. Sushildro.
- The Jal Jeevan Mission aims to provide safe and adequate drinking water through individual household tap connections by 2024 to all households in rural India.
Union Minister Renuka Singh Saruta inaugurates Mara Tribal Girls' Hostel in Lunglei in Mizoram
- Union Minister of State for Tribal Affairs, Renuka Singh Saruta inaugurated the Mara Tribal Girls’ Hostel in Lunglei in Mizoram.
Shah to inaugurate new AR complex in Mizoram
- Union Home Minister Amit Shah will inaugurate a new complex of Assam Rifles at Zokhawsang near Aizawl,Mizoram.
Mizoram to host G20 meeting from March 1-3: CM
- Mizoram will host a G20 meeting from March 1-3, where business delegates and diplomats from across the world are expected to participate, Chief Minister Zoramthanga.
- Around 85 local startups will also take part in the event at the Mizoram University (MZU) on the western outskirts of Aizawl.
J&K LG Manoj Sinha inaugurates power infrastructure projects worth 192 crores rupees
- In the Union Territory of Jammu and Kashmir, Lieutenant Governor Manoj Sinha inaugurated power infrastructure projects worth 192 crores rupees.
- The projects inaugurated will add to the existing distribution capacity and provide quality power supply to the households and existing & upcoming industrial units in the respective areas.
Vice President Jagdeep Dhankhar inaugurates New Facility at IIT Madras Center for Innovation
Vice President Jagdeep Dhankhar inaugurated a New Facility at the IIT Madras Center for Innovation. The Hub is IIT Madras’ first architect-designed built space dedicated to student-led activities funded by Alumni & Government contributions. This is dedicated to supporting and encouraging Innovation and Entrepreneurship activities of the students and researchers.
Triveni Glass to invest Rs 1,000 crores in Andhra Pradesh for solar glass plant
- Triveni Glass Ltd will invest Rs 1,000 crore to set up 840 metric tonnes per day capacity solar glass manufacturing plant in Andhra Pradesh.
- The glassmaker will set up the plant at Pangidi in East Godavari district, which will create 2,000 jobs.
Banking and Finance
Bank of Baroda (BoB) hikes bulk FD rates with up to 7.70% on these tenures
Bank of Baroda (BoB), a public sector lender, raised interest rates on bulk domestic fixed deposits, including NRO deposits of more than ₹10 crore, to up to ₹1000 crore.
After the adjustment, the bank is now providing interest rates on deposit tenors ranging from 7 days to 5 years that range from 4.50% to 5.25%. For bulk fixed deposits maturing in one to two years, BoB will now provide a maximum interest rate of 7.70%.
The bank’s official website states that as of February 27, 2023, the revised bulk fixed deposit interest rates are in effect.
SBI’s $1 billion ESG loan completed: Largest ever social syndicated loan by an Asia Pacific commercial bank
- State Bank of India has raised Asia Pacific’s largest ever environmental, social, and governance (ESG) loan of $1 billion in syndicated social funds for further on lending to smaller institutions to aid social sector funding. SBI has raised this $1 billion fund, including a greenshoe of $500 million, from global banks. The loan is significant for SBI and also the ESG financing market in India, as it is the largest ESG loan by a commercial bank in the Asia Pacific and the second-largest social loan globally.
- The loan was facilitated through MLABs, MUFG Bank, and Taipei Fubon Commercial Bank Co. Ltd. While MUFG and Taipei Fubon Commercial Bank are Joint Social Loan Coordinators for this transaction, MUFG is the Lead Social Loan Coordinator. The transaction witnessed participation from banks across Taiwan, Japan, China, and the Middle East ensuring a full subscription, including USD 500 million of the greenshoe option.
Credit card spends at over ₹1-lakh crore for 11th straight month in Jan
- Credit card spends were above the ₹1-lakh crore mark for the 11th consecutive month in January, touching ₹1.28-lakh crore during the month, according to RBI data.
- Spends rose nearly 1 per cent on an already high base seen in December, when card spends stood at ₹1.26-lakh crore, led by a rise in e-commerce and online transactions. Year-on-year, spends were higher by around 45 per cent.
Capital infusion of Rs 3,000 crore likely in three General Insurers
The government may infuse ₹3,000-5,000 crore additional capital in the three public sector general insurance companies based on their performance and requirement during the year. The capital infusion would help improve the financial health of the general insurance firms — National Insurance Company Limited, Oriental Insurance Company Limited and United India Insurance Company.
In the last financial year, the government made a capital infusion of ₹5,000 crore to these companies. During 2020-21, ₹9,950 crore was infused, out of which ₹3,605 crore to the United India Insurance, ₹3,175 crore for National Insurance and ₹3,170 crore in Oriental Insurance.
DBS Bank revises FD interest rates: senior citizens can earn up to 8%
- DBS Bank has revised the interest rates of its fixed deposits below Rs 2 crore. After the revision, DBS Bank offers interest rates ranging from 2.50% to 7.50% to the general public and 2.50% to 8% to senior citizens. The new rates are effective from February 23, 2023.
First time in many years, fixed deposit rates turn positive at 8%
- State-run banks led by Punjab & Sind Bank top the chart offering a cool 8-8.50 per cent per annum.
- Inflation has been over 6 per cent for 10 months of 2022 forcing the Reserve Bank to increase rates by 250 bps to 6.50 per cent through six consecutive hikes beginning May 2022.
- For the fortnight to January 13, 2023, credit growth rose 16.5 per cent annualised as against 10.6 per cent growth in deposits.
Banks request RBI to include more long-term bonds in H1 FY24 borrowing
In recent meetings with senior officials of the Reserve Bank of India (RBI), banks are said to have suggested that more longer-tenure government bonds be issued, and a 20-year bond be introduced, in the Centre’s market borrowing calendar for April-September 2023.
Science and Technology
PVR Cinemas launches multiplex within Chennai airport complex
- PVR Cinemas has launched of a five-screen property at PVR Aerohub in Chennai, Tamil Nadu, the first multiplex in the country to be housed within an airport complex. The cinema will serve the entertainment needs for arriving and departing passengers besides benefiting residents in the neighbourhood.
- With this launch, PVR Cinemas will have 12 properties in Chennai and 77 screens while consolidating its foothold in Tamil Nadu with 88 screens across 14 properties. Its screen count in south India will grow to 328 in 53 properties.
- The airport cinema has a seating capacity of 1155 and is equipped with 2K RGB+ laser projectors, digital stereoscopic projection and advanced Dolby Atmos high-definition immersive audio.
Equatorial Guinea appoints Manuela Roka Botey as first female PM
- Equatorial Guinea has appointed Manuela Roka Botey as prime minister. She became the first woman in the country to hold the position. President Teodoro Obiang Nguema Mbasogo, who has ruled the country since 1979, made the announcement in a decree read on state television.
- Ms Rotey was previously the education minister and joined the government in 2020. She replaces former premier Francisco Pascual Obama Asue, who has been in the position since 2016.
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.
Anurag Singh Thakur along with LG J&K launches 3rd Khelo India Winter Games Mascot, Theme Song and Jersey
- Union Minister for Information and Broadcasting and Youth Affairs & Sports, Sh. Anurag Singh Thakur along with Lieutenant Governor, Jammu & Kashmir, Sh. Manoj Sinha launched 3rd Khelo India Winter Games Mascot, Theme Song and Jersey at Raj Bhavan, Jammu.
- The Winter Games are scheduled to be held from 10th to 14th this month at Gulmarg, Jammu and Kashmir. The Khelo India Winter Games is supported by the Ministry of Youth Affairs and Sports and is organized by the J&K Sports Council as well as the Winter Games Association, J&K.
- More than 1500 players across the country will take part in the games that will take place in Gulmarg and will be played across 9 sports events. The 1st edition of the Khelo India Winter Games took place in 2020 and Jammu and Kashmir have come on top in both editions of the games so far.
World Cancer Day - 4 February 2023
- Each year on February 4, World Cancer Day is celebrated worldwide. It is believed to have brought everyone together in the fight against cancer. World Cancer Day seeks to save millions of lives by educating the public, promoting awareness, and pressuring individuals and governments around the world to take action every year.
- “Close The Care Gap” has been the theme for World Cancer Day for the past three years (2022, 2023, and 2024). The multi-year campaign’s main objectives are to increase global awareness of Cancer Day through exposure, involvement, and opportunities.
Daily Current Affairs - February 4 & 5, 2023 - Consolidated
- Union Home Minister Shri Amit Shah laid the foundation stone of the fifth unit of IFFCO Nano Urea Plant at Deoghar, Jharkhand
- Shri Bhupender Yadav launches ‘Save Wetlands Campaign’ as a “whole of society” approach for wetlands conservation
- NTPC to host G20 International Seminar on ‘Carbon Capture Utilization and Storage
- CAG to host 6th Shanghai Cooperation Organisation SAI Leaders’ Meeting in Lucknow
- Sri Lanka celebrates 75th Independence Day
- LG Manoj Sinha inaugurates SARAS Aajeevika Mela 2023 in Jammu
- Uttar Pradesh CM inaugurates VFS Global Visa Application Center in Lucknow
- Sikkim Chief Minister Prem Singh Tamang has launched an initiative ‘Mero Rukh Mero Santati’
- Hindujas to invest Rs 10,000 crore to raise stake in IndusInd Bank
- PVR Cinemas launches multiplex within Chennai airport complex
- Equatorial Guinea appoints Manuela Roka Botey as first female PM
- Former Pakistan President Pervez Musharraf passes away in Dubai
- Anurag Singh Thakur along with LG J&K launches 3rd Khelo India Winter Games Mascot, Theme Song and Jersey
- World Cancer Day – 4 February 2023
Daily Current Affairs - February, 2023
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