Latest Current Affairs For Thursday 23rd February, 2023

Minister of Power, RK Singh inaugurates 15th edition of ELECRAMA 2023

The Union Minister of Power, RK Singh has officially inaugurated the Power Pavilion, ELECRAMA 2023 at the India Expo Mart, Greater Noida.

The event was attended by Vivek Kumar Dewangan (Chairman & Managing Director, REC Limited) and other officials from REC.

Theme 2023: Re-imagining the Future: Metamorphosis of the Power Sector in India.

Vision: To showcase innovation in the power sector such as Smart Meters, Smart Feeder Management Systems, Methanol production etc. 

Ind-Ra projects India's FY24 growth at 5.9%

Credit rating and research agency, India Ratings and Research (Ind-Ra) projected the growth of the Indian economy to 5.9% year on year during 2023-24.

The GDP growth estimate of the agency is lower than the 6.4% real GDP growth projected by the RBI for FY24.

According to the agency, there are fault lines in the economic recovery that is happening in the Private final consumption expenditure, Government Final Consumption Expenditure, and net exports. 

Karthik Subramaniam wins National Geographic 'Pictures Of The Year'

An Indian-origin, Karthik Subramaniam has won the prestigious National Geographic ‘Pictures of The Year’ award with his photograph titled “Dance of the Eagles”.

The award-winning photograph captured a bald eagle intimidating its peers to claim a prime log while salmon hunting in the Chilkat Bald Eagle Preserve in Alaska.

He titled the picture 'Dance of the Eagles' as a homage to the fictional dragon war in George R.R. Martin’s novel ‘A Dance with Dragons’.

IIT Roorkee, IAF join hands to develop indigenous defence technologies

Indian Institute of Technology Roorkee (IIT Roorkee) has signed an MoU with the Indian Air Force (IAF) to promote the development of indigenous technologies.

They also aim to develop equipment through Research and Development in areas of mutual interest.

The MoU was signed at Bengaluru during Aero India 2023.

The IIT Roorkee will provide its expertise and cooperation in research for feasibility studies and prototype development.

Tata Group becomes the title sponsor for WPL

BCCI secretary, Jay Shah has informed that the TATA Group has bagged the title rights for the Women's Premier League (WPL) 2023.

The first match of WPL 2023 will begin between Gujarat Giants and Mumbai Indians on March 4 at the DY Patil Stadium.

In its first season, the WPL will stage a total of 20 league matches and two Playoff games that will be played.

Five teams: Delhi Capitals, Gujarat Giants, Mumbai Indians, Royal Challengers Bangalore & UP Warriors. 

18th UIC World Security Congress organized by Railway Protection Force

The 18th UIC World Security Congress has been started commenced in Jaipur, India on 21st February 2023.

The 3-day Conference is being jointly organized by the International Union of Railways, Paris and Railway Protection Force.

Theme 2023: Railway Security Strategy: Responses and Vision for Future

The World Security Congress is a globally recognized security platform.

The Union International Des Chemins (UIC) or International Union of Railways was established in 1922.

Tamil Nadu Governor R.N. Ravi released two books

Tamil Nadu Governor R.N. Ravi released two books — Pt. Deendayal Udadhyaya: Dispersions of Thought and Pt. Deendayal Udpadhyaya: Integral Humanism in Chennai.

The book was authored by Professor B. Dharmalingam.

Pandit Deendayal Upadhyaya was an Indian politician and a proponent of integral humanism ideology.

He also started the monthly publication Rashtra Dharma (National Duty).

He also served as the 10th President of Bharatiya Jana Sangh (1967 – 1968).

SEBI proposes more power to shareholders with changes to governance norms

The SEBI has proposed that the listed entities should take approval from shareholders at least once in 5 years for the appointment of directors to serve on their boards.

Reason: To curb the practice of occupying permanent directorship in a company. 

SEBI also proposed norms, related to special rights granted to certain shareholders; sale, disposal, or lease of assets of a listed entity outside the ‘scheme of arrangement’ framework and on agreements binding listed entities. 

BEL inks MoU with ADA for advanced medium combat aircraft programme

Navratna PSU, Bharat Electronics (BEL) has signed an MoU with Aeronautical Development Agency (ADA), DRDO and Cisco.

BEL & ADA agreement: For the Advanced Medium Combat Aircraft (AMCA) programme. 

BEL & Cisco: For long-term strategic cooperation in the areas of networking, collaboration, and security among other associated services. 

Aim: To leverage the complementary strengths and capabilities. 

These MoUs were signed during the Aero India 2023 in Bengaluru.

Central Bank of India, Moneywise Financial Services tie up for MSME loans

Central Bank of India and Moneywise Financial Services Pvt Ltd (MFSPL) signed a co-lending agreement for lending to micro, small, and medium-sized enterprises (MSMEs).

This partnership will help to expand the portfolio for both entities.

The said loans would be subject to compliance with the applicable laws and guidelines issued by RBI.

MFSPL is an RBI-regulated non-banking financial company (NBFC) focused on MSME Lending.

Central Bank of India CEO: M. V. Rao

World Thinking Day 2023: 22nd February

The World Organization of Girl Guides and Girl Scouts (WAGGGS) has observed World Thinking Day every year on 22nd February.

Theme 2023: Our Planet, Our Peaceful Future

Aim: To create awareness about issues that affect girls and young women. 

This day also aims to celebrate sisterhood, solidarity, and women’s empowerment.

In 1999, at the World Conference in Dublin, the name of the day was changed from Thinking Day to World Thinking Day.

Pt Prem Kumar Mallick bags for the Sangeet natak Akademi Award 2019

Noted classical singer, Pt Prem Kumar Mallick has been selected for the prestigious Sangeet Natak Akademi Awards for 2019.

Reason: Contributions in the field of music (Hindustani Vocal).

He is a professor in the department of music and performing arts at Allahabad University.

He will receive this award along with other artists from across the country for the award for years 2019, 2020, and 2021.

President Droupadi Murmu will present the award on February 23.

Rudrankksh Patil wins gold in men’s 10m air rifle in ISSF World Cup 2023

Indian shooter, Rudrankksh Patil clinched his first World Cup individual gold in the men’s 10m air rifle event at the ISSF World Cup in Cairo, Egypt.

He defeated Maximilian Ulbrich of Germany, who was settled for silver.

While Miran Maricic of Croatia won the bronze medal.

In women’s 10m air rifle, Tilottama Sen (14) won the second bronze for India.

Seonaid Mcintosh (Great Britain) won gold and Nina Christen (Switzerland) settled for silver.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.