Daily Current Affairs – March 12 & 13, 2023
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Daily Current Affairs - Banking - March 12 & 13, 2023
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National News
Centre releases Rs 1.40 lakh crores tax devolution amount to states
- The Union Government has released 14th instalment of tax devolution to state governments amounting to Rs 1,40,318 crore, as against normal monthly devolution of Rs 70,159 crore.
- Uttar Pradesh received the highest instalment of Rs 24,783 crore among all states.
Central Railway achieves major milestone with 100% electrification of entire Broad Gauge Network
- The Central Railways (CR) has achieved a significant milestone with 100 per cent electrification of its entire Broad Gauge Network (3,825 kilometres).
- The Central Railways saves 5.204 lakh tons of carbon footprints annually.
- The last non-electrified section of Central Railway, that is, Ausa Road- Latur Road (52 route kilometres) on Solapur Division was electrified on February 23, 2023.
- Central Railway – 05/11/1951 (Founded) – Mumbai (HQ) – Shri Anil Kumar Lahoti (Chairman & CEO)
PM Modi inaugurates 3rd session of National Platform for Disaster Risk Reduction
- Prime Minister Narendra Modi inaugurated the third session of the National Platform for Disaster Risk Reduction (NPDRR) at Vigyan Bhawan, New Delhi.
- According to Prime Minister’s Office (PMO), the main theme of the third session of this platform is “Building Local Resilience in a Changing Climate”.
World Food India-2023 to be organised during 3-5 November, 2023 in New Delhi
- The second edition of ‘World Food India-2023’ will be organised by the Ministry of Food Processing Industries, Government of India, from 3-5 November, 2023 at Pragati Maidan, New Delhi.
- The Curtain Raiser Event to WFI-2023 was held today in National Media Centre, New Delhi.
- During the event, Union Minister of Food Processing Industries, Shri Pashupati Kumar Paras, and Union Minister of State for Food Processing Industries and Jal Shakti, Shri Prahlad Singh Patel, launched the website, publicity brochure and promotional video for WFI-2023.
- Ministry of Food Processing Industries – Pashupati Kumar Paras,Union Minister (Hajipur,Bihar) – Prahlad Singh Patel,Minister of State (Damoh,Madhya Pradesh)
MNRE plans ₹1,354-crore projects to develop Pipavav, Tuticorin ports for offshore wind
- The Ministry of New and Renewable Energy (MNRE) will be submitting a proposal to the Ministry of Shipping for developing the ports of Pipavav (Gujarat) and Tuticorin (Tamil Nadu), to make them ready for handling offshore wind project cargo.
- The National Institute of Wind Energy, (NIWE), which is under MNRE, has done a study on what needs to be done at these two ports, in terms of dredging, land reclamation, shore protection and docking facilities.
- Revealing this at the second UK India Offshore Wind Summit, organised by the UK government and the Global Wind Energy Council, Dr Rajesh Katyal, said that the development of Pipavav port would cost ₹622 crore and that of Tuticorin, ₹732 crore.
- Ministry of New and Renewable Energy – Raj Kumar Singh (Arrah, Bihar) – Bhagawanth,Minister of State (Bidar,Karnataka)
Shri Arjun Ram Meghwal inaugurates exhibition “Women and Nation Building: 1857 to the Republic” at National Archives of India, New Delhi
- On the occasion of 133rd Foundation Day of National Archives of India Shri Arjun Ram Meghwal inaugurated the exhibition “Women and Nation Building: 1857 to the Republic” at National Archives of India, New Delhi.
Ayush Ministry to organize Yoga Mahotsav - 2023 at Talkatora Stadium in New Delhi
- Ayush Ministry will organize Yoga Mahotsav – 2023 at Talkatora Stadium in New Delhi.
- The Yoga Mahotsav is an event to commemorate 100 days countdown to the 9th edition of International Day of Yoga.
- The three-day, Mahotsav is being organized to give a wider promotion and publicity to various dimensions of Yoga and its utility.
- During this Mahotsav, mass yoga demonstrations will take place in one hundred places in Delhi – NCR to celebrate the countdown.
- This year’s International Day of Yoga endeavors to connect with the larger global community, as India’s G20 presidency theme One World, One Health resonance with the principle of Vasudhaiva Kutumbakam.
- The Ministry said, the International Day of Yoga will focus on taking Yoga to every village through the participation of Gram Panchayat and Gram Sabhas.
- Ministry of Ayuush – Sarbananda Sonowal,Union Minister (Rajya Sabha MP,Assam) – Dr. Mahendra Munjpara,Minister of State (Surendranagar,Gujarat)
Union Minister Anurag Singh Thakur inaugurates Youth-20 Consultation series in Pune
- Union Minister for Youth Affairs Anurag Singh Thakur said that young people are equal stakeholders in the present scenario.
- While inaugurating the fourth Y20 consultation meeting in Pune, he said that the Y20 Summit presents a unique platform for young minds to share their vision, values, and ideas, and develop solutions and recommendations which will be presented to G20 leadership.
- India’s role in this Summit is not limited to speaking, it also aims for youth to be heard and actively shape the global agenda.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
President of India Graces a All Women Bike Rally Organized by Navbharat Times Through Video Message
- The President of India, Smt Droupadi Murmu graced the flagging off ceremony of an All Women Bike Rally, organized by Navbharat Times.
International News
India and Australia for early conclusion of trade pact talks; eye $100 bn in 5 years
- India and Australia expressed their commitment for concluding the negotiations for expanding the scope of existing free trade agreement by the end of this year with an aim to push the bilateral trade to USD 100 billion.
- The issue came up for discussions during the meeting of joint ministerial commission between commerce and industry minister Piyush Goyal and his Australian counterpart Don Farrell.
- Australia – Canberra (Capital) – Australian Dollar (Currency) – Charles III (Monarch) – Anthony Albanese (Prime Minister) – English (Language)
State News
Complete Shongtong Hydroelectric Power Project by 2025
- Stressing on the need for early commissioning of work of 450 MW Shongtong Hydroelectric Power Project, Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu directed the concerned officials to expedite the construction work and complete it by July 2025.
- Completion of the Shongtong Hydroelectric Power Project would generate 1,579 million units of electricity annually, providing the state with a total benefit of Rs 1,706 crore, with Rs 1,300 crore worth of electricity generated.
- Himachal Pradesh – Shimla (Summer), Dharamshala (Winter) (Capital) – Sukhvinder Singh Sukhu (CM) – Shiv Pratap Shukla (Governor) –Hindi (Language)
Odisha: CM Naveen Patnaik inaugurates multi-facility athletic complex
- Odisha Chief Minister Naveen Patnaik inaugurated Birsa Munda Athletics Stadium Complex and Hockey Training Centres in Odisha’s Sundargarh district.
- The multiple sports projects will play a significant role in the holistic development of sports in the district of Sundargarh which is reputed for producing many national and international players.
- The projects inaugurated include the Birsa Munda Athletics Stadium Complex in Rourkela and three Hockey Training Centres in Bisra, Lahunipara and Manchmara.
Odisha clears incentive package for IOCL cracker plant
- The Odisha state Cabinet has approved a special package of incentives for a nearly 60,000 crore investment proposal of Indian Oil Corporation Limited (IOCL).
- The CPSU has proposed for setting up of a Mega Dual Feed Cracker (DFC) at Paradip with investment of Rs.58,042 crore for production Ethylene, Polypropylene, Poly Vinyl Chloride (PVC), Phenol, Is-Propyl Alcohol (IPA) etc. for total capacity of 2822 KTA.
- The Dual Feed Cracker will enable significant industrial development in various downstream industries like plastic, pharma, API, agro chemical, personal care products (FMCG), speciality chemicals, paints and packaging materials.
- These downstream industries in MSME sector will create large employment opportunities with enhanced economic activity in the state.
- IOCL and its downstream industries will generate about 25,000 jobs both directly and indirectly.
- In a bid to improve the lives of tribal communities in Odisha, the state government has also sanctioned a Rs 500 crore package to be implemented within three years.
- Pujari said the ST & SC Development, Minorities & Backward Classes Welfare Department will implement the Livelihoods Cluster Development initiative under Mukhya Mantri Janajati Jeebika Mission through the State sector scheme ‘ST Livelihood and Income Generating Programme”.
- The new State funded scheme will be implemented in 119 TSP blocks (tribal concentrated areas) of the State through 22 ITDAs utilising a total outlay of Rs 500 crores over a period of three years from 2022-23 to 2025-26.
- Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)
CM Yogi approves infrastructure projects worth Rs 465 cr in Ayodhya
- Uttar Pradesh Chief Minister approved the proposal for the development of world-class infrastructure projects worth Rs 465 crore in Ayodhya.
- A 2 km stretch of the ‘dharmapath’ from NH 27 to the ‘Naya Ghat’ old bridge will now be widened and expanded and it will cost Rs 65 crore.
- A provision of Rs 200 crores has also been made for the 9.02-kilometer Panchkosi Parikrama Marg.
- Apart from this, a provision of Rs 200 crores has been made to convert 23.943 km of ’14 Kosi Parikrama Marg’ into a four-lane in Ayodhya.
UP Cabinet approves old vehicle scrapping policy; govt to provide rebate
- Uttar Pradesh Cabinet has approved old vehicle scrapping policy for the state, State Transport Minister Dayashankar Singh.
- He said that for scrapping 15 years old vehicles the state government would provide a 50 per cent rebate in taxes and penalties and 75 per cent in the case of 20 years old vehicles.
- Uttar Pradesh – Lucknow (Capital) – Yogi Adityanath (CM) – Anandiben Patel (Governor) – Hindi (Language)
Excise policy 2023-24 approved by Punjab Cabinet
- Punjab Cabinet approved an excise policy for the financial year 2023-24 with a target to collect Rs 9,754 crore in revenue, a jump Rs 1,004 crore collected in the last fiscal year.
- In another decision, the Cabinet also approved ‘Punjab State Minor Mineral Policy-2023’ to provide sand and gravel at affordable rates to the people of the state.
- The policy aims to collect Rs 9,754 crore during the year 2023-24, giving an increase of Rs 1,004 crore.
- Punjab Finance Minister Harpal Singh Cheema announced the launch of a new scheme to check theft of tax revenue by unscrupulous traders and shopkeepers. Cheema announced the scheme –‘Bill Leyao, Inaam Pao’ (Bring a bill, Get reward).
- On the basis of a draw, monthly prizes will be given to people/customers who would submit their bills with the Taxation Department.
- Punjab – Chandigarh (Capital) – Bhagwant Mann (CM) – Banwarilal Purohit (Governor) – Punjabi (Language)
Shah to inaugurate new Assam Rifles complex in Mizoram
- Union Home Minister Amit Shah will inaugurate the Assam Rifles complex at a new place near here on March 31.
- Mizoram – Aizawl (Capital) – Zoramthanga (CM) – Kambhampati Hari Babu (Governor) – Mizo and English (Language)
Two-day G20 flower festival begins in New Delhi
- A two-day G20 Flower Festival is being organised at Delhi’s Connaught Place.
- Union Environment Minister Bhupender Yadav inaugurated the festival which is being organised by the New Delhi Municipal Council at Central Park.
- G20 countries including Japan, Singapore, and the Netherlands are participating in it.
- New Delhi – New Delhi (Capital) – Arvind Kejriwal (CM) – Shri Vinai Kumar Saxena (Lieutenant Governor) – Hindi (Language)
Rajasthan govt denotified 539.782 hectares of land for Kota Greenfield Airport
- The Rajasthan government has denotified 539.782 hectares of land in the buffer zone area of Ramgarh Vishdhari Tiger Reserve Bundi, for Kota Greenfield Airport.
- This decision was taken after the approval of the National Tiger Conservation Authority and the National Wildlife Board.
- Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) – Kalraj Mishra (Governor) – Hindi (Language)
Regional workshop on PM Gati Shakti National Master Plan concludes in Kochi
- The Rajasthan government has denotified 539.782 hectares of land in the buffer zone area of Ramgarh Vishdhari Tiger Reserve Bundi, for Kota Greenfield Airport.
- This decision was taken after the approval of the National Tiger Conservation Authority and the National Wildlife Board.
- Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) – Kalraj Mishra (Governor) – Hindi (Language)
Tigers Return to Madhav National Park After a Decade
- Pertinently, one of the oldest national parks in Madhya Pradesh, Madhav National Park, was once home to a substantial population of tigers.
- However, over time, the tiger population has fallen drastically, with the last reported sighting being in 2012.
- In a noteworthy development, the Madhya Pradesh Forest Department relocated a male tiger, aged four years and previously from Satpura Tiger Reserve, and a female tigress, aged three-and-a-half years and formerly from Bandhavgarh Tiger Reserves.
- Madhya Pradesh – Bhopal (Capital) – Shivraj Singh Chouhan (CM) – Mangubhai C. Patel (Governor) – Hindi (Language)
Banking and Finance
RBI infuses ₹82,650 crore into banking system via VRR auction
- The Reserve Bank of India (RBI) infused liquidity amounting to ₹82,650 crore into the banking system via the 14-day Variable Rate Repo (VRR) auction amid tightening liquidity.
- Against the notified ₹1 lakh crore under the VRR auction, banks borrowed ₹82,650 crore at a weighted average rate of 6.53 per cent.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
IDFC Mutual Fund rebrands as Bandhan Mutual Fund
- IDFC Mutual Fund is all set to adopt its new brand identity as Bandhan Mutual Fund from, March 13, 2023.
- As part of the rebranding, each scheme of the fund house will be renamed, replacing the word ‘IDFC’ with ‘Bandhan’.
SIDBI sanctions ₹1,000-crore loan to Shri Kshethra Dharmasthala Rural Development Project
- Small Industries Development Bank of India (SIDBI) has sanctioned ₹1,000-crore loan to Karnataka-based Shri Kshethra Dharmasthala Rural Development Project (SKDRDP) under its PRAYAAS Scheme for direct credit to micro enterprises under partnership arrangements.
- SIDBI has formulated the PRAYAAS Scheme to help microfinance clients upscale / diversify their business and need assistance in the range of ₹50,000 to ₹5 lakh, commonly known as “Missing Middle Segment”.
- The scheme aims to significantly improve access to finance and reduce interest rate to aspiring borrowers and help in enterprise promotion.
- Small Industries Development Bank of India (SIDBI) – 02/04/1990 (Founded) – Lucknow, Uttar Pradesh (HQ) – Sivasubramanian Ramann (Chairman & MD)
Business and Economy
Net direct tax collection as of March 10 reaches Rs 13.73 lakh crore, 83 pc of the revised target for FY23: CBDT
- Net direct tax collection as of March 10 reaches Rs 13.73 lakh crore, 83% of the revised target for FY23: CBDT.
- Central Board of Direct Taxes (CBDT) – 1964 (Founded) – New Delhi (HQ) – Nitin Gupta (Chairman)
India's chemical demand likely to jump to $1,000 billion by 2040
- India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey.
- In the report titled ‘India: The next chemicals manufacturing hub’, McKinsey said the country’s chemical industry has been a global outperformer in demand growth and shareholder wealth creation over the last decade.
SAIL finalising plans to nearly double capacity to 34-35 mt by 2030-31
- Public sector steel major, Steel Authority of India Ltd (SAIL), is in the process of finalising growth plans that will take its capacity to 34-35 million tonnes by 2030-2031.
- At present, SAIL’s operating crude steel capacity is around 19.5 million tonnes.
- Steel Authority of India Limited (SAIL) – 19/01/1954 (Founded) – New Delhi (HQ) – Soma Mondal (Chairman)
Appointments
Ex-Infosys president Mohit Joshi to be new MD and CEO of Tech Mahindra
- IT company Tech Mahindra announced the appointment of former Infosys president Mohit Joshi as MD and CEO designate, who will take over the charge from C P Gurnani after his retirement on December 19 this year.
- Infosys Limited – 02/07/1981 (Founded) – Bangalore (HQ) – Nandan Nilekani (chairman) – Salil Parekh (MD & CEO)
Govt appoints Siddhartha Mohanty as interim chairman of LIC
- The Centre has appointed Siddhartha Mohanty as the interim chairman of Life Insurance Corporation of India (LIC) for a period of three months starting March 14, according to CNBC.
- Mohanty is presently a managing director and chief executive officer of LIC Housing Finance, as the MD of Life Insurance Corporation (LIC), effective February 1st, 2021.
- Siddhartha Mohanty was nominated to serve as the MD of LIC until his superannuation on June 30, 2023.
- Currently, Bishnu Charan Patnaik, Ipe Mini, Siddhartha Mohanty, and Raj Kumar are the MDs of LIC and Shri. Mangalam Ramasubramanian Kumar is the chairman of the company.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Awards and Recognitions
Punjab village receives 'Swachh Sujal Shakti Samman' for waste management, sets example for state
- Peroshah village in Punjab’s Gurdaspur district, with a population of over 1,000, has earned national-level recognition for properly managing solid and liquid waste.
- Harjinder Kaur, the sarpanch of the village, which has been declared a model ODF (open defecation free) Plus, received the ‘Swachh Sujal Shakti Samman 2023’ from President Droupadi Murmu on March 4 for commendable work in the sanitation sector.
Defence
INS Trikand participates in Cutlass Express exercise
- INS Trikand participated in ‘Sea Phase-I’ of the International Maritime Exercise- Cutlass Express 2023 held in the gulf from March 5 to 9, the Union Ministry of Defence.
- During the period, the ship exercised with naval units of Bahrain, Japan, Oman, Saudi Arabia, UAE, the UK and the USA with the common aim of enhancing maritime security, keeping shipping lanes open and ensuring the safety of navigation.
- INS Trikand is part of the Indian Navy’s Western Fleet and operates under the Western Naval Command headquartered in Mumbai.
MARITIME PARTNERSHIP EXERCISE (MPX) WITH FRENCH NAVY
- Indian Navy’s indigenously built guided missile frigate, INS Sahyadri participated in a Maritime Partnership Exercise (MPX) with French Navy (FN) ships FS Dixmude, a Mistral Class Amphibious Assault Ship and FS La Fayette, a La Fayette Class Frigate, in the Arabian Sea on 10 – 11 March 2023.
- Indian Navy – 26/01/1950 (Founded) – New Delhi (HQ) – Navy Day (December 4) – Admiral R. Hari Kumar (Chief of Naval Staff) – ‘May the Lord of Water be auspicious unto us’ (Motto)
IAF to procure six Dornier-228 aircrafts from HAL at Rs 667 crore
- Defence Ministry, signed a contract for the procurement of six Dornier-228 aircraft for the Indian Air Force (IAF) from Hindustan Aeronautics Limited (HAL) at the cost of Rs 667 crore.
- The aircraft was used by IAF for Route Transport Role and communication duties.
- Subsequently, it has also been used for training of transport pilots of the IAF.
- Indian Air Force (IAF) – 26/01/1950 (Founded) – New Delhi (HQ) – Airforce Day (October 08) – Air Chief Marshal Vivek Ram Chaudhari (Chief of Air Staff) – ‘Touch the sky with Glory’ (Motto)
Daily Current Affairs - March 12 & 13, 2023 - Consolidated
- Centre releases Rs 1.40 lakh crores tax devolution amount to states
- Central Railway achieves major milestone with 100% electrification of entire Broad Gauge Network
- PM Modi inaugurates 3rd session of National Platform for Disaster Risk Reduction
- World Food India-2023 to be organised during 3-5 November, 2023 in New Delhi
- MNRE plans ₹1,354-crore projects to develop Pipavav, Tuticorin ports for offshore wind
- Shri Arjun Ram Meghwal inaugurates exhibition “Women and Nation Building: 1857 to the Republic” at National Archives of India, New Delhi
- Ayush Ministry to organize Yoga Mahotsav – 2023 at Talkatora Stadium in New Delhi
- Union Minister Anurag Singh Thakur inaugurates Youth-20 Consultation series in Pune
- President of India Graces a All Women Bike Rally Organized by Navbharat Times Through Video Message
- India and Australia for early conclusion of trade pact talks; eye $100 bn in 5 years
- Complete Shongtong Hydroelectric Power Project by 2025
- Odisha: CM Naveen Patnaik inaugurates multi-facility athletic complex
- Odisha clears incentive package for IOCL cracker plant
- CM Yogi approves infrastructure projects worth Rs 465 cr in Ayodhya
- UP Cabinet approves old vehicle scrapping policy; govt to provide rebate
- Excise policy 2023-24 approved by Punjab Cabinet
- Shah to inaugurate new Assam Rifles complex in Mizoram
- Two-day G20 flower festival begins in New Delhi
- Rajasthan govt denotified 539.782 hectares of land for Kota Greenfield Airport
- Regional workshop on PM Gati Shakti National Master Plan concludes in Kochi
- Tigers Return to Madhav National Park After a Decade
- RBI infuses ₹82,650 crore into banking system via VRR auction
- IDFC Mutual Fund rebrands as Bandhan Mutual Fund
- SIDBI sanctions ₹1,000-crore loan to Shri Kshethra Dharmasthala Rural Development Project
- Net direct tax collection as of March 10 reaches Rs 13.73 lakh crore, 83 pc of the revised target for FY23: CBDT
- India’s chemical demand likely to jump to $1,000 billion by 2040
- SAIL finalising plans to nearly double capacity to 34-35 mt by 2030-31
- Ex-Infosys president Mohit Joshi to be new MD and CEO of Tech Mahindra
- Govt appoints Siddhartha Mohanty as interim chairman of LIC
- Punjab village receives ‘Swachh Sujal Shakti Samman’ for waste management, sets example for state
- INS Trikand participates in Cutlass Express exercise
- MARITIME PARTNERSHIP EXERCISE (MPX) WITH FRENCH NAVY
- IAF to procure six Dornier-228 aircrafts from HAL at Rs 667 crore
Daily Current Affairs - February, 2023
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