Daily Current Affairs – March 16, 2023
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Daily Current Affairs - Banking - March 16, 2023
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National News
NHB introduces simplified process for filing and approval of applications under its Subsidy Schemes
- The National Horticulture Board (NHB) under the Ministry of Agriculture and Farmers Welfare operates back-ended capital investment subsidy schemes for promotion of commercial horticulture and cold chain infrastructure in the country.
- Under these Schemes, subsidy from 35 to 50 percent is provided for various components as per prescribed cost norms.
- The revised simplified process will not only shorten the timelines for sanctioning of GoC/ subsidy applications but would greatly help the farming community with minimum documentation process.
- The new system will cut down the present time for sanction of Grant of Clearance (GoC) from 6-8 months to less than 100 days.
Government has prohibited over 17 pesticides in past five years
- The Government of India has prohibited 17 pesticides for import, manufacture or sale in the country in the last seven years.
- Surprisingly, all 17 pesticides were prohibited in 2018.
- These 17 pesticides are Alachlor, Benomyl, Carbaryl, Diazinon, Dichlorovos, Fenarimol, Fenthion, Linuron, Methoxy Ethyl Mercury Chloride (MEMC), Methyl Parathion, Phorate, Phosphamidon, Sodium Cyanide, Thiometon, Triazophos, Tridemorph, and Trichlorfon.
- Ministry of Agriculture and Farmers Welfare (MoAFW) has so far banned or phased out 46 pesticides and 4 pesticide formulations for import, manufacture or use in the country.
- The manufacture, import, storage, sale, distribution, use, etc of pesticides are regulated by the Insecticides Act, 1968, and the Insecticides Rules, 1971 made there under.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
Department of Animal Husbandry and Dairying initiated Animal Husbandry Infrastructure Development Fund with a scheme outlay of Rs.15000 crores under Atmanirbhar Bharat Abhiyan stimulus package
- Dairy Entrepreneurship Development Scheme (DEDS) was implemented by Ministry of Fisheries, Animal Husbandry and Dairying, Government of India through National Bank for Agriculture and Rural Development (NABARD) from September 2010 to March 2020.
- To support dairy entrepreneurship, the Department of Animal Husbandry and Dairying has initiated Animal Husbandry Infrastructure Development Fund with a scheme outlay of Rs.15000 crore under Atmanirbhar Bharat Abhiyan stimulus package for incentivizing the (i) the dairy processing and value addition infrastructure, (ii) meat processing and value addition infrastructure (iii) Animal Feed Plant (iv) Breed improvement technology and Breed multiplication farm (v) Setting up of veterinary vaccine and drugs production facilities and (vi) Animal waste of wealth management (Agri waste management).
- Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)
PMEGP Loan of Rs.298.44 crore sanctioned and PMEGP Margin Money subsidy of Rs.100.16 Crore disbursed in Bhiwani,Haryana
- Chairman, Khadi and Village Industries Commission Shri Manoj Kumar released margin money grant of Rs.100.16 crore in favour of 2989 beneficiaries under Prime Minister’s Employment Generation Programme(PMEGP) Scheme.
- These beneficiaries have been sanctioned Rs.298.44 crore by banks for setting up enterprises under PMEGP in Jhumpa, Bhiwani, Haryana.
- About 24,000 people will get additional employment through these un its set up by these beneficiaries.
- In addition Rs 4.44 crore margin money grant amount was also disbursed to PMEGP beneficiaries of Haryana against the sanctioned loan amount of Rs 13.67 crore.
- Khadii and Village Industries Commission (KVIC) – 1957 (Founded) – Mumbai (HQ) – Manoj Kumar (Chairman)
7th International Diabetes Summit 2023 inaugurated in Pune
- The 7th International Diabetes Summit 2023 organized by Chellaram Diabetes Institute was inaugurated.
- The three day summit is focused on talks on managing diabetes complications, cost-effective diabetes care, new advances and role of technology in diabetes management.
Railways gets 3 bids to set up manufacturing facility to supply 80,000 wheels per annum
- Three companies, including the state-run Steel Authority of India, have submitted bids to the Indian Railways to set up a manufacturing facility that will supply 80,000 wheels of various types per annum for the next 20 years to the national transporter.
- The two other companies which have shown interest in setting up the facility are: the Pune-based Bharat Forge and the Kolkata-based Ramkrishna Forgings.
- Indian Railways – 06/05/1836 (Founded) – New Delhi (HQ) – V.K.Tripathi (Chairman & CEO)
International News
India's imports from Russia rise to USD 41.56 billion in April-Feb period
- India’s imports from Russia jumped about five times to USD 41.56 billion during the April-February period of this fiscal due to increasing inbound shipments of crude oil from that country.
- Russia – Moscow (Capital) – Russian Ruble (Currency) – Vladimir Putin (President) – Mikhail Mishustin (Prime Minister) – Russian (Language)
India-Luxembourg launches Joint Commemorative Stamp
- Celebrating 75 years of friendship, India and Luxembourg launched a Joint Commemorative Stamp, highlighting the multifaceted nature of the relationship.
- Luxembourg – Luxembourg (Capital) – Euro (Currency) – Henri (Grand Duke) – Xavier Bettel (Prime Minister) – Luxembourgish (Language)
Centre approves new Nano 'game changer' fertilizer, IFFCO says it will help increase farmers' income
- Fertiliser cooperative IFFCO announced that its IFFCO Nano DAP fertilizer has been approved for sale by the Government of India and will prove to be a game changer for Indian farmers. It will cost between Rs 600-700 much cheaper than the conventional DAP, IFFCO Chief Dr US Awasthi.Nano DAP LIQUID is a unique foliar formulation that supplies nano Nitrogen (8.0 per cent) and Phosphorus (16.0 per cent) to crops.
- Indian Farmers Fertiliser Cooperative Limited (IFFCO) – 03/11/1967 (Founded) – New Delhi (HQ) – Dr U S Awasthi (MD & CEO)
State News
1st dust control committee meeting held at BMC headquarters
- First meeting of the 7-member special committee appointed to suggest measures on dust controls was held in BMC headquarters.
- A live workshop for demonstration of the air-purifying machines will be arranged on March 17.
- The meeting was chaired by additional commissioner (western suburbs) Dr Sanjeev Kumar.
First Meghalaya International Film Festival
- The State of Meghalaya celebrated the first-ever International Film Festival in the capital city of Shillong.
- Five-day long, Meghalaya International Film Festival, an initiative of the Meghalaya Filmmakers’ Association (MeFilma) kicked off in State Central Library.
- The festival will screen over 65 films and documentaries spread over five days.
- Minister of Tourism and Art & Culture, Paul Lyngdoh inaugurated the 1st Meghalaya International Film Festival.
Banking and Finance
RCB ropes in Equitas Small Finance Bank as banking partner for 2023 season of T20
- Equitas Small Finance Bank has partnered T20 cricket team Royal Challengers Bangalore (RCB) for the 2023 season of the T20 league.
- The RCB team will don the Equitas Small Finance Bank logo on the lead trousers as part of the team’s jersey.
- Equitas Small Finance Bank – 2007 (Founded) – Chennai (HQ) – Arun Ramanathan (Part-time Chairman) – Vasudevan P N (MD & CEO)
Business and Economy
Exports dip for 3rd consecutive month in Feb; trade deficit narrows to USD 17.43 billion
- Contracting for the third month in a row, India’s exports declined by 8.8 per cent to USD 33.88 billion in February due to slowdown in global demand, even as the trade deficit touched about a year low of USD 17.43 billion during the month.
- Imports also declined by 8.21 per cent to USD 51.31 billion as against USD 55.9 billion recorded in the corresponding month last year.
- Cumulatively, however during April-February this fiscal, the country’s overall merchandise exports rose by 7.5 per cent to USD 405.94 billion.
- Imports during the period increased by 18.82 per cent to USD 653.47 billion.a
Acquisitions and Mergers
LIC sells 2 pc stake in NMDC between December and March, garners over Rs 700 crore
- The sale of 2 per cent stake or a little over 5.88 crore shares in open market has fetched over Rs 700 crore to LIC.
- Corporation’s shareholding in NMDC Ltd has diluted from 40,14,72,157 to 34,25,97,574 equity shares decreasing its shareholding from 13.699 per cent to 11.690 per cent of the paid-up capital of the said company.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Appointments
US Senate confirms Indian American as Assistant Secretary of Air Force
- The United States Senate confirmed Indian American Ravi Chaudhary as the Assistant Secretary of Defence for the Air Force, one of the top civilian leadership positions in the Pentagon.
- Chaudhary previously served as a Senior Executive at the US Department of Transportation where he was Director of Advanced Programs and Innovation, Office of Commercial Space at the Federal Aviation Administration (FAA).
Eric Garcetti set to be confirmed as US Ambassador to India
- President Joe Biden’s close aide Eric Garcetti is set to be confirmed as US Ambassador to India.
- United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)
Awards and Recognitions
INS Dronacharya to receive President's Colour
- INS Dronacharya, the premier gunnery school of the Indian Navy, will receive the prestigious President’s Colour in recognition of its commendable services.
- INS Dronacharya was designated as the Centre for Excellence in gunnery and missile warfare in 2004.
Important Days
World Consumer Rights Day
- The Department of Consumer Affairs will be celebrating World Consumer Rights Day, 2023 on March 15.
- Theme “Empowering consumers through clean energy transitions”.
- 1st observed 1983.
Defence
Joint India Singapore Exercise 'Bold Kurukshetra' concludes at Jodhpur
- The Singapore Army and Indian Army participated in the 13th edition of Exercise Bold Kurukshetra, 10 days long bilateral armour exercise at Jodhpur Military Station, India.
- For the first time in the exercise series, both armies participated in a command post Exercise, which involved Battalion and Brigade level planning elements and computer war gaming.
- Hosted by the Indian Army, the exercise involved soldiers from the 42nd Battalion, Singapore Armoured Regiment and an Armoured Brigade of the Indian Army.
- Singapore – Singapore City (Capital) – Singapore dollar (Currency) – Halimah Yacob (President) – Lee Hsien Loong (Prime Minister) – Malay (Language)
Daily Current Affairs - March 16, 2023 - Consolidated
- NHB introduces simplified process for filing and approval of applications under its Subsidy Schemes
- Government has prohibited over 17 pesticides in past five years
- Department of Animal Husbandry and Dairying initiated Animal Husbandry Infrastructure Development Fund with a scheme outlay of Rs.15000 crores under Atmanirbhar Bharat Abhiyan stimulus package
- PMEGP Loan of Rs.298.44 crore sanctioned and PMEGP Margin Money subsidy of Rs.100.16 Crore disbursed in Bhiwani,Haryana
- 7th International Diabetes Summit 2023 inaugurated in Pune
- Railways gets 3 bids to set up manufacturing facility to supply 80,000 wheels per annum
- India’s imports from Russia rise to USD 41.56 billion in April-Feb period
- India-Luxembourg launches Joint Commemorative Stamp
- 1st dust control committee meeting held at BMC headquarters
- First Meghalaya International Film Festival
- RCB ropes in Equitas Small Finance Bank as banking partner for 2023 season of T20
- Exports dip for 3rd consecutive month in Feb; trade deficit narrows to USD 17.43 billion
- LIC sells 2 pc stake in NMDC between December and March, garners over Rs 700 crore
- US Senate confirms Indian American as Assistant Secretary of Air Force
- Eric Garcetti set to be confirmed as US Ambassador to India
- INS Dronacharya to receive President’s Colour
- World Consumer Rights Day
- Joint India Singapore Exercise ‘Bold Kurukshetra’ concludes at Jodhpur
Daily Current Affairs - March, 2023
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