Daily Current Affairs – March 29, 2023
Daily Current Affairs - Banking - March 29, 2023
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Education ministry selects 9,000 schools for PM SHRI scheme
- Approximately 9,000 schools from all over the country have been selected by the Ministry of Education for the Pradhan Mantri Schools for Rising India (PM SHRI) programme.
- These schools were chosen from a pool of over 250,000 government schools, including Kendriya Vidyalayas and Navodaya Vidyalayas, that met the eligibility criteria for the programme.
- The PM SHRI school is a new centrally sponsored initiative with the aim of enhancing over 14,500 schools across the nation.
- The authorities in seven states and Union Territories, particularly Delhi, West Bengal, Bihar, Odisha, Tamil Nadu, Kerala, and Jharkhand, have been contacted by the Centre, encouraging them to adopt the plan and guarantee first-rate education for every student.
- Ministry of Education – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Subhas Sarkar, Minister of State (Bankura, West Bengal), Annpurna Devi Yadav, Minister of State (Kodarma, Jharkhand), Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur)
Centre sanctions Rs 800 crore for setting up over 7000 public EV charging stations across country
- Centre has sanctioned eight hundred crore rupees under FAME Scheme Phase -2 for setting up seven thousand 432 public fast charging stations across the country.
- The government has formulated Faster Adoption and Manufacturing of Electric Vehicles (FAME) India Scheme in 2015 to improve the infrastructure required for the large-scale use of electric vehicles.
- The companies are Indian Oil, Bharat Petroleum, and Hindustan Petroleum.
- The installation is expected to be completed by March next year.
- At present, there are about six thousand 586 charging stations across the country out of these three thousand 199 private and three thousand 387 government public EV charging stations are operational in the country.
- The addition of the new seven thousand 432 public charging stations will be a significant push to Electric Vehicles charging ecosystem.
731 Krishi Vigyan Kendras functional in country under aegis of ICAR
- A total 731 Krishi Vigyan Kendras (KVK) are functional in the country under the aegis of ICAR.
- Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar informed that 14 more KVKs will be established to disseminate information to farmers related to results of research in agriculture sector and agricultural technology.
- 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)
NMBA launched in 372 most vulnerable districts under which massive community outreach being done through more than 8000 youth volunteers
- Nasha Mukt Bharat Abhiyaan, NMBA was launched in 372 most vulnerable districts under which a massive community outreach is being done through more than 8000 youth volunteers.
- Social Justice, and Empowerment Minister Dr. Virendra Kumar said so far NMBA has reached more than nine crore 55 lakh people including three crore 12 lakh youth and two crore eight lakh women.
- He said more than three lakh 14 thousand educational institutions have also participated in this Abhiyaan.
- The Minister said 340 Integrated Rehabilitation Centres for Addicts (IRCA) are supported by the Ministry.
- Ministry of Social Justice and Empowerment – Virendra Kumar Khatik,Union Minister (Tikamgarh,MP) – Ramdas Bandu Athawale, Minister of State (Pandharpur,Maharashtra), Pratima Bhoumik, Minister of State (Tripura West,Tripura), Abbaiah Narayanaswamy, Minister of State (Chitradurga, Karnataka)
Housing and Urban Affairs Ministry receives 26 proposals from 21 states to develop new cities
- The Union Housing and Urban Affairs (HUA) Ministry has received 26 proposals from 21 states to develop new cities to meet the demand for urban expansion in the country and they are currently at scrutiny and evaluation stage.
- Minister of State for HUA Kaushal Kishore said the 15th Finance Commission has allocated Rs 8,000 crore for performance-based challenge fund for incubation of eight new cities and the amount available for each proposed new city is Rs 1,000 crore.
- Ministry of Housing and Urban Affairs – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Kaushal Kishore, Minister of State (Mohanlalganj,UP)
NBCC inks MoU to help in construction of 1 lakh housing units in Zambia
- NBCC, the Navratna CPSE of the Government of India, signed the MOU for cooperation with Scirocco Enterprises Ltd of Zambia for the construction of 1 lakh low and medium-cost houses to mitigate an acute shortage of housing in that country.
- The MoU was signed through virtual mode by K P M Swamy, Director (Commercial), NBCC (India) Ltd and MaustafaSaadi, Chief Executive Officer, Scirocco Enterprises Ltd in the presence of P K Gupta, CMD, NBCC.
- The housing units are to be constructed by 2030.
- NBCC will provide its engineering services as EPC Agency.
- NBCC has successfully completed social housing in Mauritius and the construction of social housing units at Maldives is under progress.
- Zambia – Lusaka (Capital) – Zambian kwacha (Currency) – Hakainde Hichilema (President) – English, Nyanja and Icibemba (Language)
Karnataka CM says RGUHS will be renamed after Kengal Hanumanthaiya
- Chief Minister Basavaraj Bommai announced that the Rajiv Gandhi University of Health Sciences (RGUHS), which controls all the medical colleges in the State, will be renamed after the late former Chief Minister Kengal Hanumanthaiya.
- Karnataka – Bengaluru (Capital) – Basavaraj Bommai (CM) –Thawarchand Gehlot (Governor) – Kannada (Language)
Nagaland CM Neiphiu Rio presents Budget 2023-24
- Nagaland Chief Minister Neiphiu Rio, who is also the Finance Minister, presented the Budget for the year 2023-2024 in the ongoing first session of the 14th Nagaland Assembly in Kohima.
- The Gross receipts at Rs 23,145.66 crore, and Gross Expenditure at Rs 23,085.66 crore for the financial year 2023-24 was estimated.
- Nagaland – Kohima (Capital) – Neiphiu Rio (CM) – La. Ganesan (Governor) – English (Language)
Banking and Finance
Banks’ credit likely to grow 12%-13% YoY in FY24: SBI report
- Banks are likely to witness a 12%-13% year-on-year (YoY) growth in their overall advances in FY24, compared with an estimated 15%-16% credit growth this fiscal, said a report released by SBI Research.
- The deposit growth is expected to be stable between 10% and 11% for both FY23 and FY24.
UPI contributed 52% of 8,840 crore digital transactions in 2022 which comes to Rs 1.26 lakh crore
- UPI contributed 52% of 8,840 crore digital transactions in 2022 which comes to Rs 1.26 lakh crore.
IREDA makes record Rs 16,320 crore loan disbursements; sanctions Rs 32,578 crore as loan in FY23
- State-owned IREDA has made a record Rs 16,320 crore loan disbursement and sanctioned loans worth Rs 32,578 crore in the 2022-23 fiscal.
- Last year, IREDA has achieved loan disbursement of Rs 16,071 crore and loan sanction of Rs 23,921 crore.
- Indian Renewable Energy Development Agency Limited (IREDA) – 1987 (Formed) – New Delhi (HQ) – Pradip Kumar Das (Chairman & MD)
Business and Economy
EPFO fixes 8.15 % interest rate on employees' provident fund for 2022-23
- Retirement fund body EPFO fixed 8.15 per cent rate of interest on employees’ provident fund (EPF) deposits for 2022-23.
- In March 2022, EPFO had lowered the interest on EPF for 2021-22 to an over four-decade low of 8.1 per cent for its about five crore subscribers, from 8.5 per cent in 2020-21.
- This was the lowest since 1977-78, when the EPF interest rate stood at 8 per cent.
- Employees’ Provident Fund Organisation (EPFO) – 04/03/1952 (Founded) – New Delhi (HQ) – Neelam S Rao (Executive) – Ministry of Labour & Employment (Under)
Country's exports in merchandise & services to peak at 750 billion US dollars by 2022-23
- Minister of State for Commerce and Industry Anupriya Patel said, the country’s exports in merchandise and services would peak at 750 billion US dollars by 2022-23 as against over 650 billion US dollars in 2021-22.
- Ms. Patel inaugurated the 23rd edition of INDIASOFT at Pragati Maidan in New Delhi.
- She lauded the country’s Research and Development professionals for developing and perfecting over 70 new products that will be launched at the INDIASOFT.
- She added, it reflects the country’s achievements in the digital space and amplifies its resolution to become a developed country by 2047.
- Ministry of Commerce and Industry – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Anupriya Patel, Minister of State (Mirzapur,UP), Som Parkash, Minister of State (Hoshiarpur,Punjab)
Centre working to reduce logistics cost to GDP to 7.5% in 5 years
- The government is working to bring down logistics cost to GDP to 7.5 per cent from the current 13 per cent, Union Home Minister Amit Shah.
- The logistics cost in India is 13 per cent to the GDP as compared eight per cent in the rest of the world, making it difficult for Indian exports to compete globally.
- Ministry of Home Affairs – Amit Anil Chandra Shah,Union Minister (Gandhinagar,Gujarat) – Nityanand Rai, Minister of State (Ujiyarpur,Bihar), Nisith Pramanik, Minister of State (Cooch Behar, West Bengal), Ajay Kumar Mishra, Minister of State (Kheri,UP)
Science and Technology
Amazon partners with IIT Bombay; introduces AI-ML Initiative
- Amazon and the Indian Institute of Technology–Bombay (IIT Bombay) announced the creation of the Amazon IIT–Bombay Artificial Intelligence (AI)- Machine Learning (ML) Initiative.
- This collaborative initiative will run for several years and provide financial support for research projects, PhD fellowships, and community events including research symposia.
- Its primary focus is on advancing artificial intelligence (AI) and machine learning (ML) in the areas of speech, language, and multimodal AI domains.
- Amazon – 05/07/1994 (Founded) – Seattle, Washington (HQ) – Andy Jassy (CEO)
Acquisitions and Mergers
Aditya Birla Capital sells insurance broking arm to Samara Capital for Rs 455 crores
- Aditya Birla Capital (ABCL), the holding company of the financial services business of Aditya Birla Group, will exit its insurance broking business by selling Aditya Birla Insurance Brokers (ABIBL) to Samara Capital for an upfront payment of Rs 455 crore.
- Aditya Birla Capital (ABCL) – 2007 (Founded) – Mumbai (HQ) – Vishakha Mulye (CEO)
Adani acquires 49 % in Quintillion Business Media for Rs 47.84 crores.
- Billionaire Gautam Adani’s AMG Media Networks has acquired about a 49 per cent stake in Raghav Bahl-curated digital business news platform Quintillion Business Media Pvt Ltd for about Rs 47.84 crores.
- Adani Enterprises Ltd said its subsidiary AMG Media Networks Ltd has completed the acquisition which was originally announced in May last year.
- Adani Groups – 1988 (Founded) – Ahmedabad, Gujarat (HQ) – Gautam Adani (Chairman)
Smita Harish Kuber appointed as IDBI Bank CFO
- IDBI Bank has appointed Smita Harish Kuber as the bank’s chief financial officer (CFO) and key managerial personnel with effect from April 01, 2023, in place of P. Sitaram, ED & CFO, who will retire on attaining superannuation on March 31, 2023.
- Meanwhile, Samuel Joseph Jebaraj, Deputy Managing Director, IDBI Bank has resigned from his position.
- IDBI Bank Limited – 01/07/1964 (Founded) – Mumbai (HQ) – M. R. Kumar (Chairman) – Rakesh Sharma (MD & CEO) – “Banking For All” (Tagline)
Indian lifter Bharali Bedabrate bags World Youth Championships bronze
- Indian weightlifter Bharali Bedabrate clinched the men’s 67kg bronze medal at the the IWF World Youth Championships in Durres, Albania.
- The 15-year-old lifted a total of 267kg(119kg+148kg) to finish third.
- Armenia’s Seryozha Barseghyan 275kg(128kg+147kg) and Saudi Arabia’s Mohammed Al Marzouq 270kg (119kg+148kg) won the gold and silver medals respectively.
189 SAI training centres functional across the country
- Youth and Sports Affairs Minister Anurag Singh Thakur said that a total of 189 sports authority of India (SAI) training centres are functional across the country.
- SAI sports promotional schemes are implemented across the country to identify talented sportspersons and nurture them to excel at the national and international levels.
- He said the athletes from all the SAI promotional schemes are performing well at national and international competitions.
Daily Current Affairs - March 29, 2023 - Consolidated
- Education ministry selects 9,000 schools for PM SHRI scheme
- Centre sanctions Rs 800 crore for setting up over 7000 public EV charging stations across country
- 731 Krishi Vigyan Kendras functional in country under aegis of ICAR
- NMBA launched in 372 most vulnerable districts under which massive community outreach being done through more than 8000 youth volunteers
- Housing and Urban Affairs Ministry receives 26 proposals from 21 states to develop new cities
- NBCC inks MoU to help in construction of 1 lakh housing units in Zambia
- Karnataka CM says RGUHS will be renamed after Kengal Hanumanthaiya
- Nagaland CM Neiphiu Rio presents Budget 2023-24
- Banks’ credit likely to grow 12%-13% YoY in FY24: SBI report
- UPI contributed 52% of 8,840 crore digital transactions in 2022 which comes to Rs 1.26 lakh crore
- IREDA makes record Rs 16,320 crore loan disbursements; sanctions Rs 32,578 crore as loan in FY23
- EPFO fixes 8.15 % interest rate on employees’ provident fund for 2022-23
- Country’s exports in merchandise & services to peak at 750 billion US dollars by 2022-23
- Centre working to reduce logistics cost to GDP to 7.5% in 5 years
- Amazon partners with IIT Bombay; introduces AI-ML Initiative
- Aditya Birla Capital sells insurance broking arm to Samara Capital for Rs 455 crores
- Adani acquires 49 % in Quintillion Business Media for Rs 47.84 crores.
- Smita Harish Kuber appointed as IDBI Bank CFO
- Indian lifter Bharali Bedabrate bags World Youth Championships bronze
- 189 SAI training centres functional across the country
Daily Current Affairs - February, 2023
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