Home Daily Current Affairs Banking Current Affairs Daily Current Affairs – March 02, 2023

Daily Current Affairs – March 02, 2023

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Daily Current Affairs - March 02, 2023

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National News

NHA under its flagship scheme ABDM achieves another milestone in building a digitally connected healthcare ecosystem

The National Health Authority (NHA) under its flagship scheme Ayushman Bharat Digital Mission (ABDM) has achieved another milestone in building a digitally connected healthcare ecosystem. Union Health Ministry has said that over 25 crore health records of individuals have been linked to their Ayushman Bharat Health Account- ABHA. These records can be easily accessed and managed by the individuals using any of the ABDM-enabled health apps.

UIDAI rolls out new security mechanism for Aadhaar-based fingerprint authentication & faster detection of spoofing attempts

The Unique Identification Authority of India (UIDAI) has rolled out a new security mechanism for Aadhaar-based fingerprint authentication, and faster detection of spoofing attempts. The artificial intelligence and machine learning-based security mechanism is now using a combination of both finger minutia and finger image to check the liveness of the fingerprint captured. This is making Aadhaar authentication transactions even more robust and secure.
So far holders have carried out over nine thousand crore authentication transactions so far out of which nearly 200 crores took place in January indicating the growth of digital economy in the country.

NTPC to host G20 International Seminar on ‘Carbon Capture Utilization and Storage

India has assumed the presidency of G20 from 1st December 2022 for a period of one year. In its presidency, 1st Energy Transitions Working Group (ETWG) Meeting is scheduled to be held from 5th February to 7th February 2023.
NTPC, India’s largest integrated power utility, on behalf of Ministry of Power, Govt of India, will be hosting a side event in form of an International Seminar on Carbon Capture, Utilization & Storage (CCUS) on 5th February 2023 at Taj Westend, Bengaluru. This seminar is likely to be attended by industries, policy makers, scientists and academicians of different countries.
The seminar will focus on underlining the importance of CCUS for achieving “clean energy transition” and subsequently moving towards Net Zero.

Second Environment & Climate Sustainability Working Group meeting to take place in Gujarat

The Second Environment and Climate Sustainability Working Group (ECSWG) meeting will be held at Gandhinagar in Gujarat from 27 to 29 March.
The Second ECSWG will commence with a side event on water resources management wherein presentations on the Best Practices in Water Resources Management by G20 member countries will take place.

Finance Minister Nirmala Sitharaman attends credit outreach programme at Lachen in Sikkim

Union Minister of Finance and Corporate Affairs, Nirmala Sitharaman attended a credit outreach programme organised by State level Bankers’ Committee and SBI at Lachen in Sikkim’s Mangan district.

Govt plans mega outreach programme to commemorate Jan Aushadhi scheme

The government plans to undertake a mega outreach programme across the country later this week to commemorate five years of Jan Aushadhi scheme.
Events have been planned in different cities from March 1-7 to create awareness about Pradhan Mantri Bharatiya Janaushadhi Pariyojana (PMBJP).

International News

UK to launch India-Britain exchange scheme, announce Indo-Pacific tech envoy

British Foreign Secretary James Cleverly is visiting India to attend the G20 Foreign Ministers’ meeting and will mark the opening of the Young Professionals Scheme, a partnership between the UK and India which allows up 3,000 Britons and 3,000 Indians each year the right to live and work in the other country for up to two years.

State News

Railway Minister flags off Garvi Gujarat Yatra train from Delhi

Minister of Railways Ashwini Vaishnaw flagged off the “Garvi Gujarat Yatra” train that showcases the heritage of Gujarat from Delhi’s Safdarjung station.
The train will undertake a eight-day tour and passengers can board and deboard the train from Rewari, Gurugram, Ringas, Phullera and Ajmer stations.

Danish company, Umwelt Energy, to invest $850-m in TN for green hydrogen, methanol plant

Umwelt Energy, a Denmark-based company, will invest $850 million in Tamil Nadu to build a green methanol plant in the State, the company’s Chief Executive Officer, Alexander Eriksen.
He said that the 2,000-odd acres of land needed for the plant has been organised.
Saibaba Vutukuri, Managing Director, Umwelt Energy India, said that the plant would be equipped to produce 1 lakh tonnes-per-year of green methanol. He said it would be a fully integrated plant, starting from 500 MW of wind-solar hybrid plants which would supply electricity to an electrolyser to produce green hydrogen.

CM Patnaik launches 'Odisha SDG Indicator Framework-2.0' to achieve 2030 goals

Odisha Chief Minister Naveen Patnaik launched the second version of the Odisha SDG Indicator Framework (OSIF 2.0) and urged every Department to make intelligent use of this framework as together we march towards 2030. Pronouncing the commitment to the SDGs, he said, “Together we can; Together we will.”

Bihar govt presents Rs 2.61 lakh crore budget

The Nitish Kumar government in Bihar presented a Rs 2.61 lakh crore budget, asserting that the state’s finances were in a good shape as evident from markers like the fiscal deficit being under the prescribed conditional limit.

Banking and Finance

HDFC hikes lending rates by 25 bps

Home Development Finance Corporation Ltd (HDFC) has hiked its Retail Prime Lending Rate (RPLR) by 25 basis points (bps) with effect from March 1, 2023.

IDFC & Federal Bank partner with Sa-Dhan on UPI123PAY

Private sector lenders IDFC First and Federal Bank will partner with association of microfinance institutions Sa-Dhan and Delhi-based fintech solutions provider NextGen to promote digital payments by feature phone users.

ICICI Bank hikes home loan, other loan interest rates

ICICI Bank has raised its marginal cost-based lending rates (MCLR) across all tenures by up to 10 basis points. The higher interest rates are effective from March 1, 2023.

RBL Bank revises savings account interest rates; earn up to up to 7% interest rate

RBL Bank raised the interest rates on its savings accounts including NRE/NRO Savings by up to 75 basis points (bps) on select amounts, according to the bank’s official website. The new rates are applicable from March 1, 2023.

Asian Development Bank agrees for funding Rs 1,311.20 crores tourism projects

The Asian Development Bank (ADB) has agreed in principle to provide Rs 1,311.20 crore under phase-1 of the proposed infrastructure development investment programme, Chief Minister Sukhvinder Singh Sukhu.

Business and Economy

India’s per capita GDP estimated at ₹1,96,716: SBI Ecowrap

India’s per capita GDP at current prices is estimated at ₹1,96,716, compared to ₹71,609 in FY12, implying a compounded annual growth rate (CAGR) of 10.6 per cent, according to State Bank of India’s economic research report ‘Ecowrap’.
The report credits the growth in per capita GDP to the government’s efforts to ensure quality of life for all citizens and halting the leakage of benefits through DBT (direct benefit transfer).

Indian tech sector to grow 8.4% in FY23 to $245 billion: Nasscom

The Indian technology industry is set to grow by 8.4 per cent in FY23 to become a $245 billion sector, Nasscom.
The sector had revenues of $226 billion in FY22, the industry lobby said in its strategic review. The cross currency headwinds have shaved off over 2 per cent of the revenue growth.

Coal India output rises 14% at 619.7 mt

Coal India Ltd (CIL) registered over 14 per cent increase in production at 619.7 million tonnes (mt) till February in the current financial year, as against 542.4 mt in the same period last year. The company is hopeful of breaching the 700-mt production target for the current fiscal.

India's core sector output increases by 7.8% in January

India’s output of eight core industries registered a 7.8 per cent growth in January 2023, against 4.0 per cent growth during January 2022, the ministry of commerce and industry.

India's GDP growth moderates to 4.4 per cent in Q3; FY23 growth estimate unchanged at 7 per cent

GDP at Constant (2011-12) Prices in Q3 2022-23 is estimated at ₹40.19 lakh crore, as against ₹38.51 lakh crore in Q3 2021-22, showing a growth of 4.4 percent. GDP at Current Prices in Q3 2022-23 is estimated at ₹69.38 lakh crore, as against ₹62.39 lakh crore in Q3 2021-22, showing a growth of 11.2 percent.
According to the data, the Indian economy is expected to grow at 7 per cent in FY23.

Moody's ups India's GDP growth projection for 2023 to 5.5%

Moody’s Investors Service raised India’s economic growth estimate for 2023 to 5.5 per cent from 4.8 per cent pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum.

Farm sector to grow 3.7% in Oct-Dec on kharif output: 2nd advance estimates

The Gross Value Added (GVA) in agriculture and allied activities is projected to clock its best growth in FY23 during the October-to-December quarter, at 3.7 per cent, on the back of a strong kharif harvest, according to the second advance estimates of national income.
In the third quarter of FY22, GVA in the sector was 2.3 per cent at constant prices.
At current prices, the growth in the third quarter of this financial year is projected at 8.6 per cent, which is almost at the same level in the corresponding quarter of FY22.

Manufacturing PMI at a 4-month low of 55.3 in Feb as input costs rise

India’s purchasing managers’ index (PMI) for manufacturing in February saw a marginal decline to a four-month low of 55.3, from 55.4 in January, as input costs in the manufacturing industry increased further and new orders from abroad increased only fractionally.

February GST collections rise 12% to Rs 1.49 trillion: Finance Ministry

GST collections rose 12 per cent to over Rs 1.49 lakh crore in February, the finance ministry.
February 2023 witnessed the highest cess collection of Rs 11,931 crore since implementation of GST.
The collections are, however, lower than the second highest Goods and Services Tax (GST) mop-up recorded in January at over Rs 1.57 lakh crore. The collection reached an all-time high of Rs 1.68 lakh crore in April 2022.

Science and Technology

Alembic Pharma gets USFDA approval to market generic cancer drug

Alembic Pharmaceuticals has received approval from the US health regulator to market a generic breast cancer drug.
The company has received approval from the US Food & Drug Administration (USFDA) to market Docetaxel Injection in multiple dose vials, the drug maker.
The company’s approved product is therapeutically equivalent to Hospira Inc’s drug.

Acquisitions and Mergers

Axis Bank becomes the owner of Citibank’s India Consumer Business

Axis Bank has completed its ₹11,603 crore acquisition of Citibank’s India Consumer Business from CBNA and the NBFC Consumer Business from CFIL as going concerns.

Tata Power's renewable arm gets second tranche of ₹2,000 cr from GreenForest

Tata Power Renewable Energy Limited (TPREL) has received the second and final round of investment of ₹2,000 crores from GreenForest New Energies Bidco Limited (GreenForest).
Tata Power has successfully allotted 20 crores compulsorily convertible preference shares (CCPS) at face value of ₹100 each at par aggregating to ₹2,000 crores on a preferential basis to GreenForest.
GreenForest holds 6.06 per cent equity in TPREL and on the conversion of the above CCPS, will hold a 9.76 per cent to 11.43 per cent equity stake in TPREL, subject to the equity valuation on final conversion.

NTPC transfers 15 renewable energy assets to NGEL for Rs 10,000 crore

Power giant NTPC has completed the transfer of 15 renewable energy assets to NTPC Green Energy Ltd (NGEL) for a consideration of Rs 10,066.99 crore.
Besides, the company has transferred its entire stake in NTPC Renewable Energy to NGEL for Rs 731.17 crore.

Appointments

Bola Tinubu wins Nigeria's presidential election

Bola Tinubu, the candidate of the ruling party in Nigeria, was declared the winner and sworn in as president.

Lieutenant General MV Suchindra Kumar takes over as Vice Chief of Army Staff

Lieutenant General MV Suchindra Kumar has assumed the charge of the Vice Chief of the Army Staff. The General officer has taken over the charge from Lieutenant General BS Raju who has taken over the reins of Jaipur-based Sapta Shakti Command.

Awards and Recognitions

Hockey India congratulates Indian Men's & Women's Hockey Teams' goalkeepers for receiving Sportstar ACES 2023 award

PR Sreejesh was named Sportsman of the Year (Team Sports) for his outstanding performance in 2022. Savita received the Sportstar ACES Sportswoman of the Year award (Team Sports).

TimesPro receives the ‘Best Employability Award’ at Entrepreneur India’s Education Innovation Summit & Awards 2023

TimesPro has been honoured with the ‘Best Employability Award’ at Entrepreneur India’s recently held ‘Education Innovation Summit & Awards 2023’.

Hindi author Vinod Kumar Shukla to receive PEN America lifetime achievement award

Acclaimed Hindi writer Vinod Kumar Shukla has won the 2023 PEN/Nabokov Award for achievement in international literature, PEN America – one of the most prestigious literary prizes worldwide.

Important Days

World Civil Defence Day

Every year on March 1, the world celebrates World Civil Defence Day to raise awareness about the importance of civil defence measures in protecting people and their property from natural disasters, accidents, and other emergencies.
The International Civil Defence Organisation (ICDO) established World Civil Defence Day in 1990.
This year’s theme, “The role of information technology in risk assessment”.