Latest Current Affairs For March, 2023

IIT Madras Researchers develop a device to detect milk adulteration

Indian Institute of Technology Madras (IIT Madras) Researchers have developed a three-dimensional (3D) paper-based portable device.

This device can detect adulteration in milk within 30 seconds.

The test could be even performed at home.

It can detect multiple substances commonly used as adulterating agents including Urea, detergents, soap, starch, hydrogen peroxide, sodium-hydrogen-carbonate, and salt, among others.

SEBI reimagines MF sponsor and trustee role

The Securities and Exchange Board of India (SEBI) has allowed private equity (PE) funds to sponsor Mutual Fund schemes.

The decision comes in the backdrop of IDFC Mutual Fund getting acquired by a consortium comprising Bandhan Financial Holdings Ltd, Sovereign Wealth Fund GIC, and private equity fund ChrysCapital.

It has also permitted the set-up of self-sponsored asset management companies (AMCs).

SEBI chairperson: Madhabi Puri Buch. 

SEBI approves ASBA-like facility for investors to trade in secondary market

SEBI has approved a framework for an Application Supported by a Blocked Amount (ASBA) like facility for secondary market trading.

It is based on the blocking of funds for trading in the secondary market through UPI.

ASBA:

It is an IPO application process under which the application money by an investor is blocked in that investor’s bank account.

And once the IPO application is approved, the application money is debited from the investor’s account.

Public sector banks wrote off ₹91000 cr in 9 months of FY23

According to data presented in the Rajya Sabha, the public sector banks (PSBs) have written off around ₹91,000 crores in the first 9 months of the current fiscal year.

PSBs have just managed to recover a little over ₹1 out of ₹5 in written-off accounts during FY22.

However, the pace of recovery has picked up from around 8% in 2017-18 to a little over 21% in FY22.

Bank-wise details: SBI (₹17,356 cr) followed by Union Bank of India (₹16,497 crore), and BoB (₹13,032 cr). 

Centre to borrow Rs 8.88 Lakh Cr in first half FY24

The Finance Ministry informed that the government has decided to make a gross market borrowing of ₹8.88 trillion in the first half of FY24.

It is accounting for 57.55% of the overall market borrowings planned for the year.

The borrowing is scheduled to be completed in 26 weekly tranches of Rs 31,000-39,000 crore.

The Centre has budgeted a gross market borrowing of ₹15.43 trillion in FY 2024.

The borrowing program is finalized in consultation with the RBI.

First Disaster Risk Reduction Working Group Meeting held in Gandhinagar

The First G20 Disaster Risk Reduction WGM under India’s G20 Presidency is being held at Gandhinagar in Gujarat from 30th March to 1st April 2023.

The meeting was inaugurated by Principal Secretary to the Prime Minister Dr. P K Mishra and MoS for Communications Devusinh Chauhan.

Five priority areas have been identified for the meeting which include an early warning for all, resilient infrastructure, and improving the National system for financing Disaster Risk Reduction.

Defence Ministry signs three contracts worth about 5400 crore rupees

The Defence Ministry has signed three contracts at a total cost of nearly 5400 crore rupees to boost the defence capabilities.

Two contracts were signed with Bharat Electronics Ltd for the procurement of Automated Air Defence Control and Reporting System Project Akashteer and the acquisition of Sarang Electronic Support Measure systems. 

The third was with New Space India Limited for the procurement of an advanced Communication Satellite, GSAT 7B for the Indian Army.

United Arab Emirates launches National Genome Strategy

The UAE has launched its National Genome Strategy to provide a comprehensive legislative and governance framework to support the development and implementation of genomic programs.

The strategy will last ten years and will focus on delivering public health priorities while improving the country's well-being.

The Emirates Genome Council will oversee the National Genome Strategy.

It will advance the nation's preventive and personalized healthcare agenda.

Textiles Ministry issued PAHCHAN cards to 30.53 lakhs handicrafts artisans

Ministry of Textiles has issued PAHCHAN cards to 30.53 lakhs handicrafts artisans and 30.90 lakhs handloom weavers across the country under the PAHCHAN initiative.

The cardholder's details are available on the website of the Office of the Development Commissioner of Handicraft and Handloom.

PAHCHAN card is an initiative to issue Aadhar link identity cards to handicrafts artisans under this initiative.

The Union MoS for Textiles, Darshana Jardosh informed in Lok Sabha.

IRDAI's new rules for commission payouts

Under the IRDAI (Payment of Commission) Regulations, 2023, the IRDAI has replaced the earlier individual cap on commission payments on insurance products with an overall cap on expenses of management (EoM) of insurers.

EoM: It is computed as a percentage of premiums collected, and includes commissions/other expenses.

It is applicable for life and non-life insurers.

The EoM of general insurers cannot exceed 30% of the gross premium written in India in a financial year.

Prof. Renu Cheema Vig appointed as the Vice Chancellor of Panjab University

Vice-President, Jagdeep Dhankhar appointed Prof (Dr.) Renu Cheema Vig as the Vice Chancellor of Panjab University for a term of three years.

She is also the first woman to hold the position in the varsity’s 141-year history.

She was working as the Acting Vice Chancellor of Panjab University since January 16, 2023, after the resignation of Prof. Raj Kumar amid allegations of corruption.

A three-member selection committee was formed for recommending names for the position. 

Naveen Jindal gets lifetime achievement award from Texas University

An Indian industrialist Naveen Jindal was honored with a lifetime achievement award from the University of Texas at Dallas.

He was conferred in recognition of his accomplishments in industry, politics, and education.

He was an alumnus of the University of Texas at Dallas' 1992 batch.

He is the second person to receive this award from the University of Texas, after Nobel Laureate Aziz Sancar.

Currently, he is serving as the Chairman of Jindal Steel and Power Ltd.

ICG conducts Regional Search And Rescue (SAR) Exercise in Andhra Pradesh

The Indian Coast Guard (ICG) has conducted Regional Search and Rescue (SAR) exercise from 28 -29 March 2023 at Kakinada, Andhra Pradesh.

Aim: To simulate a real-time maritime distress scenario and highlight the functioning of the SAR organization for a mass rescue operation. 

It involved all stakeholders with the effective use of available resources towards M-SAR (Maritime Search and Rescue) contingency efficiently.

ICG founded: 1 February 1977

S&P keeps India’s economic growth forecast unchanged at 6% in FY24

S&P Global Ratings has kept its forecast for India's economic growth unchanged at 6% for 2023-24 and 6.9% for 2024-25.

In the quarterly economic update for Asia-Pacific, S&P highlighted that the inflation rate will be eased to 5% in 2023-24 from 6.8% in the current financial year (2022-23).

It has also been forecasted that the GDP of India will grow by 7% in the current financial year ending March 31 (2022-23).

S&P Global HQ: New York, U.S.

Second Infrastructure Working Group Meeting begins in Vishakhapatnam

The second G20 Infrastructure Working Group (IWG) meeting is being organized in Visakhapatnam, Andhra Pradesh from March 28-29, 2023.

It is being conducted under the theme of Financing Cities of Tomorrow: Inclusive, Resilient, and Sustainable.

The conference is attended by 63 representatives of G-20 countries and other invited organizations, ADB and World Bank.

The first G-20 IWG summit was held in Pune (Maharashtra) under the presidency of India.

Archana Suseendran clinched double gold in AFI Indian Grand Prix 2

Tamil Nadu’s Archana Suseendran has clinched two gold medals in 100m and 200m at the AFI Indian Grand Prix 2, held in Kerala on March 27, 2023.

In the Women's 100m final, she defeated Assam sprinter Hima Das and completed her 100m race in 11.52 seconds.

While she completed the 200m race in 23.21 seconds.

In the Men's 100m race category Sanjeet from Haryana clinched the gold.

The AFI Indian Grands Prix 3 and 4 will be held in Bengaluru on April 10 and 15.

Minister Bhupender Yadav launched Aravali Green Wall Project

Union Minister for Environment, Forest and Climate Change, Bhupender Yadav launched the Aravalli Green Wall Project, a major initiative to green the 5 km buffer area around the Aravalli Hill Range in four states (Haryana, Rajasthan, Gujarat, and Delhi).

He also unveiled the National Action Plan to Combat Desertification and Land Degradation Through Forestry Interventions and a FAQ on Agro-forestry published by the Indian Council of Forestry Research and Education.

NIUA organized first Urban Climate Film Festival under U20 events

The first Urban Climate Film Festival under U20 engagement events was organized by the National Institute of Urban Affairs (NIUA) from 24-26 March 2023.

A curated selection of 11 films from nine countries was showcased in the festival to create wider awareness of the impact of climate change on life in cities.

The festival was organized with support from the Ministry of Housing and Urban Affairs, the French Development Agency, and the European Union.

ICICI Lombard becomes first to offer 'Anywhere Cashless' feature

ICICI Lombard General Insurance launched the ‘Anywhere Cashless’ feature for health insurance policyholders to avail of cashless facilities at any hospital.

The feature will be subject to the hospital’s acceptance of the cashless facility.

Policyholders must inform the company 24 hours prior to the date of admission by giving basic information about the patient, policy details, hospital name, diagnosis, and treating doctor, among others.

Nikhat Zareen, Lovlina Borgohain won gold at Women's Boxing Championships

Indian Women Boxer, Nikhat Zareen and Lovlina Borgohain have managed to win a gold medal at the Women's World Championships 2023.

Nikhat Zareen won gold in the 50kg light flyweight division after defeating two-time Asian champion Nguyen Thi Tam of Vietnam by 5-0. 

Lovlina Borgohain has secured her first gold at the competition after settling for bronze in the 2018 and 2019 editions.

She defeated Australia's Caitlin Parker in the 75kg middle-weight category.

Actor Innocent Vareed Thekkethala passes away

Renowned Malayalam actor ‘Innocent’ Vareed Thekkethala passed away at 75.

He joined the film industry in 1972 with the movie 'Nrityashala' starring Prem Nazir and Jayabharathi.

He acted in over 700 films and was known for his comic roles.

He was also a former Lok Sabha MP.

He had won the 2014 Lok Sabha elections as an independent candidate backed by the Left Democratic Front, from Chalakudy.

He also acted in a few Hindi films, notably 'Malamaal Weekly'.

Assam NGO wins Children’s Champion Award 2023

An NGO from Assam’s Pathsala, Students’ Welfare Mission, which has been working for special and autistic children, was conferred with the Children’s Champion Award 2023.

The Mission popularly known as Tapoban has been awarded in the health and nutrition category.

The founder president of the Mission, Kumud Kalita, received the award that carries Rs 75,000, a certificate and a plaque.

This award was instituted by the Delhi Commission for the Protection of Child Rights.

World Theatre Day 2023: 27th March

The international theatre community and ITI centers celebrate World Theatre Day on March 27th every year to raise awareness about their importance in entertainment and the changes they bring to society.

The theme for 2023 is "Theatre and a Culture of Peace."

The International Theatre Institute founded World Theatre Day in 1961.

ITI is a worldwide organization that promotes international exchange in theatre arts and promotes the values of UNESCO.

MGNREGS wage rates revised by up to 10% for 2023-24

The Centre has notified a hike in wage rates up to 10% under the rural job guarantee program, MGNREGS for 2023-24 with Haryana having the highest daily wage at ₹357 per day and Madhya Pradesh and Chhattisgarh the lowest at ₹221.

The wage hikes, which range from ₹7 to ₹26, will come into effect from April 1, 2023.

It is a flagship program aimed at enhancing the livelihood security of households in rural areas by providing at least 100 days of guaranteed wage employment.

ISRO successfully launches LVM 3 -M3 rocket with 36 satellites

Indian Space Research Organisation (ISRO) successfully launched India's Launch Vehicle Mark (LVM) 3 -M3 satellite with 36 satellites of the One Web India-2 mission from the second launch pad of the Satish Dhawan Space Centre Sriharikota.

With this launch, OneWeb will have 616 of its satellites in orbit.

The 43m-tall launch vehicle has successfully completed the three stages in the prescribed time limit including the involvement of the ignition of the cryogenic engine.

Mumbai Indians lift Women's Premier League trophy 2023 final

Mumbai Indians have won the inaugural Women's Premier League final, held at the Brabourne Stadium in Mumbai from 4-26 March 2023.

They defeated Delhi Capitals by 7 wickets.

Mumbai Indians captain: Harmanpreet Kaur

Awardees:

Most valuable player of the tournament: Hayley Matthews

Orange cap: Meg Lanning

Purple Cap: Hayley Matthews

Emerging Player of the season: Yastika Bhatia

Fairplay award: Mumbai Indians and Delhi Capitals

Catch of the season: Harmanpreet Kaur

Luis Caffarelli won the Abel Prize for 2023

Luis Caffarelli (74) was honored with the 2023 Abel Prize for his seminal contributions to regularity theory for nonlinear partial differential equations including free-boundary problems and the Monge-Ampère equation.

The prize includes a monetary award of 7.5 million kroner and a glass plaque (designed by Norwegian artist Henrik Haugan).

It is awarded by the Norwegian Academy of Science and Letters, on behalf of the Ministry of Education.

NGT fines ₹10 crore on Kerala govt for failure to protect Ramsar sites

The Principal Bench of the National Green Tribunal (NGT) in New Delhi has imposed a penalty of ₹10 crore on the Kerala government for its failure to check the indiscriminate pollution of the Vembanad and Ashtamudi lakes (listed as Ramsar sites).

The Bench was led by its chairperson Adarsh Kumar Goel.

The penalty of ₹10 crore had to be utilized for conservation/restoration measures by preparing an action plan to be preferably executed within six months. 

Union Cabinet extends subsidy of 200 rupees per cylinder for Ujjwala Yojana

The Cabinet Committee on Economic Affairs has extended the subsidy of 200 rupees per LPG cylinder for a period of one year, under the PM Ujjwala Yojana.

It will be provided to the Ujjwala Yojana beneficiaries for up to 12 refills per year.

The total expenditure on it in 2022-23 will be 6,100 crore rupees and in 2023-24 will be 7,680 crore rupees.

The government launched PM Ujjwala Yojana in May 2016 to provide deposit-free LPG connections to women of poor households.

Cabinet approves 4 % hike of Dearness Allowance to Central Govt employees

The central government has increased the Dearness Allowance (DA) by 4%, taking the total to 42% of the Basic Pay for central government employees and pensioners.

The Union Cabinet has given its approval to release an additional installment of DA to Central Governments employees and Dearness Relief to Pensioners with effect from 1st January 2023.

The combined impact on the exchequer on account of both DA and Dearness Relief will be over 12,815 crore rupees per annum.

UAE Food Bank launches initiative to eradicate food waste

The UAE Food Bank launched an initiative to distribute three million meals and food parcels to disadvantaged individuals and families during Ramadan.

Aim: To raise public awareness regarding the crucial goal of achieving zero food waste. 

For this initiative, the organization has partnered with Ne’ma -the national initiative to reduce food loss and wastage, to enhance community awareness, education, and empowerment in making better decisions regarding food consumption.

Co-founder of Intel, Gordon Moore passes away

Intel co-founder and creator of Moore's Law, Gordon Moore passed away at the age of 94 in Hawaii.

He was the driving force behind the development of modern computing devices.

He started working on semiconductors in the 1950s and co-founded the Intel Corporation in 1968.

He was best known for coining Moore's law which predicted the speed of advances in computer chips that came to explain the exponential improvement in technology of all kinds.

Nitu Ghanghas wins Gold in IBA Womens World Boxing Championship 2023

Indian Woman boxer, Nitu Ghanghas has clinched Gold in the 48-kg category of the IBA Women's World Boxing Championship 2023 held at the K.D. Jadhav Hall IG Stadium New Delhi.

She defeated Altantsetseg Lutsaikhan from Mongolia by 5-0.

She became the only sixth Indian boxer (male or female) to win a World championship.

In the semifinals, she defeated Kazakh Alua Balkibekova.

International Boxing Association (IBA) Headquarters: Lausanne, Switzerland. 

International Day of Remembrance of the Victims of Slavery: 25th March

International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is observed every year on March 25 to raise awareness of the history of the transatlantic slave trade, its impact on the modern world, and its legacies, including racism and prejudice.

2023 theme: Fighting Slavery's Legacy of Racism Through Transformative Education. 

It was established in 2007 with the adoption of General Assembly resolution 62/122. 

RBI imposes Rs 30 lakh penalty on Karur Vysya Bank

The Reserve Bank of India (RBI) has imposed a penalty of Rs 30 lakh on Karur Vysya Bank for violating rules.

Reason: For non-compliance with certain provisions of directions issued by RBI on 'Reserve Bank of India (Frauds - Classification and reporting by commercial banks and select FIs) directions 2016'. 

The penalty was imposed in the exercise of powers conferred on RBI under the provisions of Section 47 A(1) of the Banking Regulation Act, 1949.

Former Brazilian President Dilma Rousseff elected as new President of NDB

The board of the New Development Bank (NDB) has appointed former Brazilian President, Dilma Vana Rousseff as the new President of the Bank, with immediate effect.

She has replaced Marcus Troyjo.

She served as the President of the Federative Republic of Brazil between January 2011 to August 2016.

She was elected the President of Brazil for two consecutive terms.

NDB is a multilateral financial institution set up by the five BRICS countries.

Ashneer Grover launched cricket fantasy sports app ‘CrickPe’

BharatPe co-founder Ashneer Grover launched a cricket-focused fantasy sports app called CrickPe.

The launch comes ahead of the marquee Indian Premier League (IPL) tournament that is set to begin on March 31, 2023.

This sports app can be available on the Google Play store and Apple store.

He has raised about $4 million in seed funding for his venture Third Unicorn Pvt Ltd.

Notably, the cricket app has been launched to take on rivals like Dream11, MPL, and My11Circle.

Veteran journalist and Padma Shri awardee Abhay Chhajlani passes away

Veteran journalist and former editor-in-chief of popular Hindi daily Naidunia Abhay Chhajlani passed away at 88 due to health-related issues.

He entered the field of journalism in 1955 and graduated from the Thomson Foundation, Cardiff (UK).

He was awarded the Padma Shri in 2009 for his outstanding contribution to journalism.

He also served as the president of the Indian Language Newspaper Association (ILNA) and Indian Newspaper Society (INS).

World Tuberculosis Day 2023: 24 March

World Tuberculosis Day is observed every year on March 24 to educate the world about the impact of tuberculosis, globally.

The theme for 2023 World Tuberculosis Day is "Yes! We can end TB!".

On March 24, 1882, Dr. Robert Koch announced the discovery of Mycobacterium tuberculosis, the bacterium that causes tuberculosis.

The elimination of Tuberculosis is one of the sustainable development targets to be achieved by 2030 by the world.

PM Modi addressed the One World TB Summit held in Varanasi

PM Modi addressed the One World TB Summit 2023 at Rudrakash Convention Centre, Varanasi on the occasion of World Tuberculosis Day (March 24).

Organized by: Health and Family Welfare Ministry and Stop TB Partnership. 

In March 2018, the PM called on India to achieve TB-related SDG targets by 2025.

The PM also awarded select States/UTs and districts for their progress toward ending TB.

State level: Karnataka and J&K. 

District level: Nilgiris, Pulwama, and Anantnag

Egypt officially becomes member of BRICS New Development Bank

Egypt joined the BRICS New Development Bank (NDB) as an official member.

Egypt completed all the necessary procedures to become an eligible member on February 20, 2023.

About NDB:

BRICS' New Development bank was established in July 2014, after an intergovernmental agreement was signed by the partner nations at the sixth BRICS summit in Fortaleza.

NDB bank includes India, Brazil, Russia, China, and South Africa as member countries.

Agriculture Minister Narendra Singh Tomar launches DigiClaim

Agriculture Minister Narendra Singh Tomar launched a DigiClaim, under the ambit of Pradhan Mantri Fasal Bima Yojana for claim disbursal through National Crop Insurance Portal.

With the DigiClaim Module, insurance claims of over 1,260 crore rupees have been disbursed to insured farmers of six states on March 23, 2023.

The states are Rajasthan, Uttar Pradesh, Himachal Pradesh, Chhattisgarh, Uttarakhand, and Haryana.

Defence Ministry, BEL sign MoU to enhance operational capabilities of IAF

The Defence Ministry signed two separate contracts with Bharat Electronics Limited (BEL) at a total cost of over Rs 3,700 crore.

Reason: To enhance the operational capabilities of the Indian Air Force (IAF)

First contract: Worth over Rs 2,800 crore, pertains to the supply of Medium Power Radars (MPR) ‘Arudhra’ for the IAF.

Second contract: Worth over Rs 950 crore, relates to 129 DR-118 Radar Warning Receivers (RWR). 

Both projects are under Buy Indian- IDMM category.

India wins one silver and one bronze in ISSF World Cup championship 2023

India's world champions, Rudraksh Patil and R. Narmada Nitin secured the bronze in the 10m air rifle mixed team event at the ISSF 2023, held in Bhopal, Madhya Pradesh.

While Varun Tomar and Rhythm Sangwan won silver in the 10m Air Pistol Mixed Team Competition.

With these medals, India's medal tally to three including one gold, one silver, and one bronze.

China topped the medal tally with three gold and two bronze medals.

26% of world's population does not have safe drinking water

According to UN World Water Development Report 2023, about 26% of the world's population does not have safe drinking water and 46% lack access to safely managed sanitation.

Between 2-3 billion, people experience water shortages for at least 1 month per year.

This poses severe risks to livelihoods and access to electricity.

The global urban population facing water scarcity is projected to double from 930 million (2016) to 1.7 -2.4 billion (2050).

India wins both men's and women's Asian Kho Kho Championship title 2023

The host India clinched both men's and women's titles of the Asian Kho Kho Championship 2023 held at Tamulpur in Assam.

In the women's category, Indian Eves defeated Nepal by an inning and 33 points.

On the other hand, the men's team also defeated Nepal by an inning and six points.

India remained unbeaten in both categories throughout the tournament.

A total of nine countries participated in the event.

UIDAI, SETS join hands to conduct R&D in deep-tech

The Unique Identification Authority of India (UIDAI) and the Society for Electronic Transactions and Security (SETS) collaborated to do joint R&D leading for the development of tools and products in deep tech domains.

Both organizations will also conduct joint research on emerging tech areas like Cyber Security, IoT Security, etc.

Aim: To improve self-reliance on information and cyber security and to reduce dependence on tools developed outside the country.

India, UK hold joint maritime exercise 'Konkan' in Arabian Sea

A joint maritime exercise, Konkan 2023 was conducted between the Royal Navy of Britain and the Indian Navy from 20-22 March has concluded in the Arabian Sea.

It is a joint drill by the two navies to demonstrate operational readiness, enhancing interoperability and improving the ability to conduct joint operations.

INS Trishul, a guided missile frigate, and HMS Lancaster participated.

It covered all domains of maritime operations, air, surface, and subsurface.

FSIB shortlisted Siddhartha Mohanty as new Chairman of LIC

The Financial Services Institutions Bureau (FSIB) has selected Siddhartha Mohanty as the new chairman of the Life Insurance Corporation of India (LIC).

As per the guidelines, the chairman is selected from the four managing directors of the company.

At present, he is an MD of LIC and was earlier given interim charge as chairman for a period of three months, effective from March 14, 2023.

The final decision will be taken by the Appointments Committee of the Cabinet.

Axis Bank signed co-lending pact with Autotrac Finance through Yubi

Axis Bank has entered into a co-lending pact with Autotrac Finance (AFL) through YubiCo.Lend platform to offer new tractor loans for agricultural and allied activities in rural segments of the country.

This partnership will leverage the wide customer experience of Autotrac Finance and the deep financial expertise of Axis Bank to enable easy credit availability for farmers.

They would be able to reach out to potential customers.

Axis Bank CEO: Amitabh Chaudhry

Indian economy to grow at 7%; inflation set to moderate: Finance Ministry

According to the Finance Ministry report, the Indian economy is expected to grow at 7% in FY23 despite global headwinds.

Retail inflation would moderate in line with wholesale inflation which fell to a 25-month low in January 2023.

It will be supported by the gains from high services exports, the moderation in oil prices, and the recent fall in import-intensive consumption demand.

The current account deficit (CAD) of India is estimated to fall in FY23 and FY24.

Groundwater: A Valuable but Diminishing Resource Report

According to a Parliamentary Standing Committee report, the groundwater levels in Delhi, Ghaziabad, Faridabad, and 20 other cities dipped by more than 20 meters from 2017 to 2020.

While Faridabad (Haryana) becomes 100% dependent on groundwater use and cities like Ghaziabad (UP) are on the verge of becoming totally dependent on it.

The total annual extractable groundwater resource of 398 billion cubic meters (BCM) in the country till 2020, 245 BCM was being extracted.

Tamil Nadu’s 18th wildlife sanctuary to come up in Erode

The Tamil Nadu Government has notified Thanthai Periyar Wildlife Sanctuary as the 18th wildlife sanctuary in the state.

It is spread over 80,567 hectares in the forest areas of Anthiyur and Gobichettipalayam taluks in Erode district.

It is close to Malai Mahadeshwara wildlife sanctuary, BRT Wildlife Sanctuary, and Cauvery wildlife sanctuary in Karnataka.

It also acts as a connecting point between Nilgiris Biosphere Reserve and Cauvery South Wildlife Sanctuary.

More than 40% hike in enrolments under APY in FY 2021-22 from FY 2019-20

According to the data shared by the Union MoS for Finance, Dr. Bhagwat Kisanrao Karad in Rajya Sabha, the enrolments under Atal Pension Yojana have shown a hike of more than 40% hike in FY 2021-22 from FY 2019-20.

The total fund allocated under APY for Government Co-contribution, Payment of Incentives to Banks, Promotional Campaigns, and Gap fund is Rs. 2078.94 crore (2015 to Feb 2023).

Out of the total amount, Rs. 1529.41 crores has been released till February 2023.

GRSE launched the 'Most Silent Ship' INS Androth

Indian Navy launched INS Androth, the second in a series of eight indigenous ships built by Garden Reach Shipbuilders and Engineers (GRSE) at a Kidderpore yard, Kolkata.

It is an Anti-Submarine Warfare Shallow Water Craft (ASWSWC).

It is a 77.6-meter-long and 10.5-meter-wide vessel, propelled by three diesel-driven water jets that will pack a punch.

The ship is capable of a maximum 25 knots speed and will carry lightweight torpedoes, ASW rockets, and mines.

Ranveer Singh named India's most valuable celebrity of 2022

According to a Kroll report 'Celebrity Brand Valuation Report 2022: Beyond the Mainstream', with a brand value of $181.7 million,  actor Ranveer Singh is India's most valued celebrity of 2022.

He surpassed cricketer Virat Kohli, who occupied the top spot for five years.

Kohli ranked second, followed by actors Akshay Kumar, and Alia Bhatt.

Notably, the aggregate brand value of the top 25 celebrities is $1.6 billion in 2022 (estimated), a 29.1% rise from 2021.

World Water Day 2023: 22nd March

World Water day is celebrated on March 22 every year to spread awareness about the water crisis all over the world.

UNGA adopted World Water Day in 1992.

The theme for 2023 is "Accelerating the change to solve the water and sanitation crisis."

In 2015, the world was committed to Sustainable Development Goal (SDG) 6 as part of the 2030 agenda.

A promise to provide safely managed water and sanitation by 2030.

The report is published on World Water Day every year.

Bihar celebrates 111th foundation day

Bihar observed its 111th foundation day on March 22, 2023.

On this day, the state of Bihar was carved out from the Bengal presidency in 1912.

The theme of the 2023 event is "Yuva Shakti Bihar ki Pragati".

This year, a number of events are being organized in Gandhi Maidan, Patna from March 22 to 24, 2023.

Governor Rajendra Vishwanath Arlekar and Chief Minister Nitish Kumar have congratulated people on the occasion of Bihar Divas.

Indian-American Mindy Kaling awarded the National Humanities Medals

US President Joe Biden has awarded the prestigious 2021 National Humanities Medal to Indian-American actress and producer Mindy Kaling.

Reason: For empowering the new generation to tell their stories with irreverence and sincerity. 

The National Medal of Arts is the highest award, given to artists, arts patrons, and groups by the US government.

Other notable recipients: Julia Louis-Dreyfus, Bruce Springsteen, Vera Wang, Gladys Knight, Judith Francisca Baca. 

NTPC, Indian Army sign MoU for implementation of Green Hydrogen Projects

NTPC Renewable Energy Ltd has signed an MoU with Indian Army for setting up Green Hydrogen Projects in its establishments on Build, Own, and Operate (BOO) model.

Aim: To reduce complex logistics and dependence on fossil fuels and to accelerate decarbonization.

NTPC REL CEO, Mohit Bhargava and Lt. General Rajinder Dewan signed MoU.

NTPC REL will also design, develop, and install renewable energy projects for the Indian Army.

NTPC REL is a wholly subsidiary of NTPC.

Manmeet K Nanda gets an additional charge of MD & CEO of Invest India

The board members of Invest India appointed Manmeet K Nanda, an IAS, West Bengal Cadre (2000 Batch), as the Managing Director & CEO (Additional charge) of Invest India.

She is joint secretary in the Department for Promotion of Industry and Internal Trade (DPIIT).

She has replaced Deepak Bagla, who resigned from the post.

Deepak Bagla has served the organization for nearly 8 years and contributed to Invest India’s development.

Asia’s largest 4-metre liquid mirror telescope inaugurated in Uttarakhand

Union MoS (Independent Charge) Science & Technology Dr. Jitendra Singh has inaugurated Asia’s largest 4-meter International Liquid Mirror Telescope (ILMT) at Devasthal in Uttarakhand.

It is situated at an altitude of 2450 meters at the observatory, which lies at the campus of Aryabhatta Research Institute of Observational Sciences.

The ILMT employs a 4-meter-diameter rotating mirror, which was made up of a thin layer of liquid mercury, to collect and focus light.

Water stress to hit India’s food production by 2050

According to the report, published GCEW, revealed that India will face a reduction of over 16% in food supply due to water and heat stress in 2050.

However, the report placed China at the top, where food supply would be reduced by 22.4%, followed by South America by 19.4%.

The water supply availability in India is between 1100-1197 billion cubic meters (bcm).

In contrast, the demand is expected to grow from 550-710 bcm in 2010 to 900-1,400 bcm in 2050.

Cotton Corporation of India appoints Lalit Kumar Gupta as CMD

The government has approved the appointment of Lalit Kumar Gupta as CMD of the Cotton Corporation of India (CCI), with effect from the date of his assumption of charge of the post for a period of five years.

He was recommended for the post of CMD of CCI by the PESB panel.

Presently, he is serving as Director (Finance) in the same organization.

He joined CCI in August 1994 and has a very long association with Cotton Corporation of about 25 years.

NGEL, IOCL ink pact for setting up renewable energy projects

NGEL (a wholly-owned subsidiary of NTPC Limited) has signed a Joint Venture Agreement with IOCL for setting up renewable energy projects to meet Round the Clock power requirement of IOCL Refineries.

NGEL has set a target of building a renewable generation portfolio of 60 GW over the next decade to aggressively pursue its green energy business.

Chairman, IOCL: Shrikant Madhav Vaidya

CMD, NTPC: Gurdeep Singh

International Day of Forests 2023: 21st March

The International Day of Forests is celebrated each year on March 21 to raise awareness about the importance of forests and trees for the survival of humanity.

2023 theme: Forests and health

This day can be traced back to 1971 when the Food and Agriculture Organization (FAO) established World Forestry Day.

In 2011, the United Nations declared the years 2011 to 2020 as the International Decade of Forests.

In 2012, the International Day of Forests was established.

Dr Mansukh Mandaviya attended Global Conference on Digital Health attended

Union Health Minister Mansukh Mandaviya has virtually addressed the Global Conference on Digital Health  – Taking Universal Health Coverage to the Last Citizen.

This conference is a co-branded event under India’s G20 Presidency organized by WHO – South-East Asia Region in collaboration with the Ministry of Health & Family Welfare.

The Indian government aims to launch a global initiative on digital health as an institutional framework.

India state-run banks' gross NPA eases to 5.53%

The gross NPA ratio was declining from 14.6% in March 2018 to 5.53% in December 2022.

All PSBs are in profit with aggregate profit being Rs 66,543 crore in 2021-22 and that further increased to Rs 70,167 crore in the first nine months of the current financial year.

At the same time, resilience has increased with the provision coverage ratio of PSBs rising from 46% to 89.9% in December 2022.

The capital adequacy ratio improved from 11.5% to 14.5% in December 2022.

RBI fines RBL Bank for non-compliance with rules on loan recovery agents

The Reserve Bank of India (RBI) has imposed a monetary penalty of 22.7 million rupees ($274,915) on private lender RBL Bank Ltd.

Reason: For not complying with certain directives on loan recovery agents. 

The RBI has found deficiencies in regulatory compliance after it examined complaints received against RBL's recovery agents during the financial years 2018-19 to 2021-22.

RBL Headquarters: Mumbai; 

MD & CEO: R. Subramaniakumar

IMF approves nearly $3 billion bailout for Sri Lanka

The International Monetary Fund (IMF) executive board has approved a $3-billion four-year extended financing arrangement for Sri Lanka.

It paves the way for an immediate disbursement of about $333 million to the cash-strapped country.

The new Extended Fund Facility (EFF) arrangement program aims to restore Sri Lanka’s macroeconomic stability and debt sustainability, mitigate the economic impact on the poor and vulnerable, and safeguard financial sector stability.

Nepalese batsman Aasif Sheikh won 2022 CMJ Spirit of Cricket Award

Nepalese batsman Aasif Sheikh was declared the winner of the 2022 Christopher Martin-Jenkins Spirit of Cricket Award.

Reason: For his sporting conduct shown in a Men’s T20I between Nepal and Ireland in Feb 2022.

The Award is presented every year by the Marylebone Cricket Club (MCC), UK in conjunction with the BBC.

This award was created in 2013 by MCC and the BBC in memory of former MCC President and BBC Test Match Special commentator Christopher Martin-Jenkins (CMJ).

Women employees constitute over 25% in nationalized banks in the country

Women employees constitute over 25% of the total workforce on average in the nationalized banks in the country.

The largest Public Sector Bank-- the State Bank of India (SBI), has 26.7% women employees in their total staff strength.

While Indian Overseas Bank has a maximum of 36% women staff and the Punjab National Bank has the least 24% women staff strength.

This data was provided by the Ministry of Finance in the Lok Sabha.

India, Japan sign two agreements

India and Japan signed two documents on the sidelines of the bilateral talks between PM Modi and Japanese PM Fumio Kishida.

Agreements:

Renewal of Memorandum of Cooperation in the Japanese language

Exchange of notes on JICA loan for 300 billion Yen on Mumbai-Ahmedabad high-speed railway project.

PM Kishida formally invited PM Modi to G7 Hiroshima Summit.

PM Modi also urged the Japanese PM to declare 2024 as the year of Youth Exchanges between the two countries.

World Happiness Report 2023 released

According to the World Happiness Report 2023, published by the UN Sustainable Development Solutions Network, India ranked 125 based on the various parameters of happiness.

India’s neighboring countries such as Nepal, China, Bangladesh, and Sri Lanka have a higher ranking than India.

Finland tops the ranking for the sixth consecutive year with a score of 7.8 followed by Denmark and Iceland.

Out of the 137 countries, Afghanistan has ranked last.

Carlos Alcaraz wins Indian Wells 2023 to reclaim his World No.1 spot

Spanish tennis player, Carlos Alcaraz (19) has won his maiden 2023 Indian Wells title after defeating Russian Daniil Medvedev 6-3, 6-2 in the final.

With this feat, he has also dethroned Novak Djokovic to reclaim World No.1 spot.

He also become the youngest world number one ever after his triumph and claimed his third Masters 1000 title.

He joined Rafael Nadal as the only player to win at least three as a teenager.

Nadal won six before turning 20.

Virat Kohli named Luxor's brand ambassador

Luxor Writing Instruments Private Limited has signed cricketer Virat Kohli as its new brand ambassador.

He will represent Luxor’s stationery products and help the company increase its appeal among young writers.

He will also help to enhance the market position in the country.

Luxor International Private Limited is a well-known Indian stationery manufacturer.

Managing Director of Luxor: Pooja Jain Gupta. 

India, WFP sign MoU during Global Millet Conference

The Agriculture and Farmers Welfare Ministry has signed an MoU with the World Food Programme (WFP) during the Global Millets (Shree Anna) Conference.

The MoU between WFP and the Government of India for cooperation between 2023-2027 was signed in the presence of Agriculture Minister Tomar.

The WFP is working towards promoting food self-sufficiency and supporting governmental and global efforts to ensure long-term solutions to the challenge of hunger.

ICICI Prudential Life Insurance launches ‘ICICI Pru Gold'

ICICI Prudential Life Insurance has launched ICICI Pru Gold.

It is an innovative long-term savings product designed to enable customers to create an additional income stream to meet their diverse income requirements.

Besides receiving guaranteed lifelong income, the life cover component in the product provides financial security to the family.

This product is available in three variants i.e. Immediate Income, Immediate Income with Booster, and Deferred Income.

World Oral Health Day 2023: 20th March

World Oral Health Day is observed globally on March 20 every year with the primary aim of creating awareness about the importance of oral health.

The theme for 2023 is 'Be Proud of Your Mouth,' which is the same theme used for the past three years.

World Oral Health Day was celebrated first on September 12, 2007, by the World Dental Federation (FDI).

It is the birth date of Dr. Charles Godon (founder of FDI).

India on track to achieve energy independence by 2047

According to the US Department of Energy's Lawrence Berkeley National Laboratory, India can achieve energy independence by its 100th year of independence in 2047.

Study title: Pathways to Atmanirbhar Bharat. 

It has been suggested that achieving this goal would result in significant economic, environmental, and energy benefits for India, including USD 2.5 trillion in consumer savings by 2047.

It also reduces fossil fuel import expenditure by 90% ($240 billion) annually.

LG Manoj Sinha laid foundation stone for a ₹250-crore mall in Srinagar

J&K LG, Manoj Sinha laid the foundation stone for a ₹250-crore mega shopping mall at Srinagar’s Sempora area.

This shopping mall will be constructed by Dubai-based Emaar Group.

It is the first “foreign direct investment” in the Union territory.

It will be constructed over an area of 10 lakh sq. ft. and is expected to be completed by 2026.

Later, he also participated in the India-UAE investor meet at the Sher-i-Kashmir International Conference Centre.

International Day of Happiness 2023: 20 March

The International Day of Happiness (World Happiness Day) is celebrated every year on March 20 to create a kinder and happier world by urging people to adopt simple, daily practices to be happy.

Theme 2023: Be Mindful. Be Grateful. Be Kind. 

On 12th July 2012, the United Nations General Assembly (UNGA) proclaimed March 20 as the International Day of Happiness in its resolution 66/281.

This day was first celebrates in 2013.

ISRO to conduct young scientist programme in Bengaluru

The Indian Space Research Organisation is organizing a young scientist program named Yuva VIgyani Karyakram (YUVIKA).

Aim: To impart basic knowledge on space technology, space science, and space applications to students of Class IX.

Registration for the program has been started on March 20, 2023.

The YUVIKA program will be conducted between May 15 and 26 at seven centers.

Interested students studying in Class 9 as on 1 January 2023 within India are eligible to apply.

5th Poshan Pakhwada celebrations begins

The Ministry of Women and Child Development has organized the fifth Poshan Pakhwada from 20th March to 3rd April 2023 with various activities nationwide.

Theme 2023: "Nutrition for All: Together Towards a Healthy India". 

Aim: To raise awareness about the importance of nutrition and promote healthy eating habits through Jan Andolan and Jan Bhagidari. 

Poshan Abhiyaan was launched by PM Narendra Modi on 8th March 2018 to improve nutritional outcomes in a holistic manner.

Africa-India field training exercise, AFINDEX-23 to be held in Pune, India

The 10-day Africa-India Field Training Exercise (AFINDEX 2023) will be organized in Pune, India from March 21-30, 2023 to strengthen the military ties between the countries.

The India-Africa Army Chiefs Conclave will be held in Pune from March 28-29, 2023.

The exercise will promote the idea of Africa-India Militaries for Regional Unity (AMRUT).

A comprehensive validation exercise on the theme “Humanitarian Mine Actions and Peace Keeping Operations”.

Nepal, India agree to formulate modality to supply electricity to Indian states via Bihar

Nepal and India have agreed to formulate a modality to supply electricity from Nepal to multiple states of India through central transmission line via Bihar grid.

An overview of the news:

The 14th meeting of the Nepal-India Power Exchange Committee concluded on March 17 in New Delhi.

It was decided in the meeting to work out modalities for export of power from Nepal to various states of India via Bihar within a month.

Kulman Ghising, Executive Director, Nepal Electricity Authority, and Ashok Kumar Rajput, Power System Member, Central Electricity Authority of India, agreed to finalize the modalities within a month.

The agreement has ensured the additional market for the sale of surplus electricity during the rainy season.

Under the power exchange agreement in the meeting, the price of electricity per unit has been fixed at Rs 11.54 for the financial year 2022-23.

Kataiya (Bihar)-Kushaha (Nepal) and Raxaul-Parawanipur 132-KV transmission line are connected with Bihar.

Nepal imports power from India when needed through the Power Exchange Agreement and competition with the Mahakali Treaty.

Power is being imported into Nepal through the Dhalkebar-Muzaffarpur cross-border 400 KV double circuit transmission line and other transmission lines.

The Nepal Electricity Authority has been importing electricity from India’s Bihar, Uttar Pradesh and Uttarakhand as per the electricity exchange agreement.

Only Bihar and Uttar Pradesh are connected to Nepal through 132 KV transmission lines.

Indian Higher Education Meet 2023 inaugurated in Dhaka

High Commissioner Pranay Verma and Minister of Education of Bangladesh Dr Dipu Moni on 18 March jointly inaugurated the Indian Higher Education Meet 2023 in Dhaka, Bangladesh.

An overview of the news:

It is being organized under the aegis of the Study in India program in Dhaka.

Top ranking higher educational institutions from different parts of India participated in the event.

A large number of Indian students are pursuing higher education in each other's country.

The Indian High Commissioner invited Bangladeshi students to take advantage of India's globally prestigious higher education system and build new bridges of friendship and understanding between the youth of the two countries.

Bangladesh Education Minister Dr. Deepu Moni recognized the important role of education in promoting better understanding between India and Bangladesh and thanked Study in India for taking the initiative to organize the event in Dhaka.

Study in India programme:

It is a flagship project launched by the Ministry of Education, Government of India in 2018.

Its main goal is to increase the number of international students in the country and improve the global reputation and ranking of Indian educational institutions.

The programme provides meritorious foreign students fee waiver and scholarship.

The program is designed to encourage and invite the global student community to pursue their higher education in India.

Since its inception, the Study in India program has attracted students from over 150 countries, including Bangladesh.

International Criminal Court issues arrest warrant against Vladimir Putin for war crimes in Ukraine

The International Criminal Court on 17 March issued an arrest warrant against Russian President Vladimir Putin on charges of war crimes.

An overview of the news:

The move mandates 123 member states to arrest Putin and transfer him to The Hague for trial if he steps onto their territory.

It was immediately rejected by Moscow while Ukraine on the other hand welcomed the decision.

Why did the International Criminal Court issue the warrants?

The International Criminal Court says Putin committed war crimes in Ukraine.

He is responsible for the crime of kidnapping and deportation of Ukrainian children.

According to the court, these crimes were allegedly committed from 24 February 2022 on Ukrainian-occupied territory.

The court also issued a warrant for Maria Lvova-Belova, Russia’s commissioner for children’s rights.

International Criminal Court (ICC):

It was set up in July 2002 under the Rome treaty of 1998.

It is the only permanent court to prosecute persons for crimes against humanity, genocide, war crimes and crimes of agression. 

At present 123 countries are its members. The United States, China, and Israel are not its members.

The court's jurisdiction  extends to offences that occurred after July 1, 2002, that were committed either in a state that has ratified the agreement or by a national of such a state or the case which was referred to it by the United Nations Security Council.

The Headquarters of ICC: The Hague, Netherlands. 

ICC is different from the International Court of Justice (ICJ).

ICJ is a United Nations court which hears disputes involving the member states of the United Nations.

Sagar Parikrama Phase-IV begin in Karnataka

The fourth phase of Sagar Parikrama began on March 18 covering three coastal districts of Karnataka.

An overview of the news:

According to the Ministry of Fisheries, Animal Husbandry and Dairying, the fourth phase of the Sagar Parikrama program took place from March 18-19.

It covered three districts Uttara Kannada, Udupi and Dakshina Kannada districts of Karnataka.

Union Minister for Fisheries, Animal Husbandry and Dairying Purushottam Rupala and concerned state ministers and stakeholders were present at the event.

During the event, progressive fishermen were awarded certificates/acknowledgements related to Pradhan Mantri Matsya Sampada Yojana (PMMSY), KCC and State Scheme.

Sagar Parikrama Phase-I:

It was started on March 5, 2022 from Mandvi, Gujarat to Okha-Dwarka, and concluded at Porbandar on 6 March covering 3 locations.

The programme was a huge success, with more than 5,000 people physically attending the event.

Sagar Parikrama Phase-II:

It was held on September 23-25 2022 and covered seven locations.

Sagar Parikrama Phase-III:

Phase-III was held on February 18-21 2022 and covered coastal districts of Gujarat and Maharashtra.

About Sagar Parikrama:

It is a maritime evolutionary journey tour to be organized in all coastal states/UTs through sea route to show solidarity with all fishermen, fish farmers and concerned stakeholders.

It aims to address the issues of fishermen and other stakeholders and facilitate their economic upliftment through various fisheries schemes and programs likePMMSY.

Amit Shah inaugurated APMC Kisan Bhavan at Krishi Shivir in Junagadh, Gujarat

Union Home and Minister of Cooperation, Amit Shah laid the foundation stone of the District Bank Headquarters and inaugurated the APMC Kisan Bhavan at Krishi Shivir in Junagadh, Gujarat on 19 March.

An overview of the news:

He said that natural farming is the future of agriculture today. Natural agricultural products will be promoted with the Amul brand, which will benefit the farmers.

The government is planning to expand this network to every district in the coming five years.

Strong cooperative infrastructure is the only solution for the welfare of the farmers in the country.

National level multi-state cooperatives, recently approved by the Union Cabinet to promote organic products and exports, will help farmers multiply their income over the next 10 years.

The farmer of any village of the country can easily sell his produce in the world market through the Multi State Cooperative Export Society and get a fair price for his produce.

Multi-state Cooperative Societies:

The Union Cabinet in January 2023 gave its approval for the creation ofthree new multi-state cooperative societies under the Multi-State Cooperative Societies (MSCS) Act, 2002. These are-

National multi-state cooperative export society, 

National multi-state cooperative organic society. 

National multi-state cooperative seed society. 

These societies will act as national nodal points for production, procurement, processing, branding, labelling, packaging, storage, marketing and distribution of quality seeds.

Multi-State Co-operative Societies Act, 2002. 

Co-operative is a state subject, but there are many societies such as sugar and milk, banks, milk unions etc. whose members and areas of operation are spread over more than one state.

This act was passed to govern the multi state cooperative societies.

For example, the Karnataka-Maharashtra border has most of the sugar mills that procure sugarcane from both the states.

Maharashtra has the highest number of such cooperative societies followed by Uttar Pradesh and New Delhi.

Rohan Bopanna becomes oldest tennis player to win ATP Masters 1000 title

India's Rohan Bopanna becomes the oldest tennis player to win an ATP Masters 1000 title.

An overview of the news:

Rohan Bopanna, 43, and Matthew Ebden, 35, defeated Wesley Koolhof of the Netherlands and Neil Skupski of Britain 6-3, 2-6, 10-8 in the final in California, United States.

.Before Bopanna, Canadian Daniel Nestor was the oldest player to win an ATP Masters 1000 title after he clinched the 2015 Cincinnati Masters at the age of 42.

Bopanna has so far won 24 ATP titles, including five ATP Masters 1000 titles.

It was his second title this year after winning the Qatar Open with Ebden last month.

Earlier in the Indian Wells semi-finals, the unseeded pair of Bopanna-Ebden defeated defending champions John Isner and Jack Sock of USA 7(8)-6(6), 7(7)-6(2) in the hard court event.

Bopanna, a former world No. 3 in men’s doubles, was 15th in the ATP doubles rankings ahead of the tournament.

The Indian Wells Masters win lifted him to 11th in the live doubles tennis rankings.

Digit Insurance launches three new health plans

The Go Digit General Insurance has announced three new plans under the Digit Health Insurance policy.

The three plans—Digit Double Wallet, Digit Infinity Wallet, and Digit Global Treatment. 

Aim: To meet Indians’ newly evolved health insurance demands following the pandemic. 

Under the Infinity Wallet and Worldwide Treatment plan for every claim-free year, the policyholders can earn 50% of the sum insured as a cumulative bonus of up to 100% of the SI.

Defense ministry approved to buy worth Rs 70,500-crore indigenous arms

An apex body of the defense ministry for clearing weapons procurement, the Defence Acquisition Council (DAC) met under the chairmanship of DM Rajnath Singh.

The DAC has accorded Acceptance of Necessity (AoN) for capital acquisitions worth Rs 70,500 crore under Buy Indian-IDDM (Indigenously Designed, Developed, and Manufactured) — a new procurement category.

It includes 307 Advanced Towed Artillery Gun Systems and 60 indigenous marine utility helicopters.

CRISIL: India’s GDP to grow at 6% in FY24

According to the credit rating agency CRISIL report, India’s Gross Domestic Product (GDP) is estimated to grow at 6% in 2023-24, slower than the 7% estimated for 2022-23.

Report Title: Rider in the Storm: Tracing India’s Growth in a Volatile World. 

It was also estimated that the corporate revenue would continue to grow in double digits, buoyed by strong domestic demand.

Retail inflation will average 5% over 2023-24, lower than the 6.8% (averaged in 2022-23).

Falcon LLM, a rival of ChatGPT launched in Abu Dhabi

The Technology Innovation Institute in Abu Dhabi (UAE) has launched Falcon LLM, a large language model (LLM) with 40 billion parameters.

It was trained on one trillion tokens and built by the AI and Digital Science Research Center's AI Cross-Centre Unit.

The model outperforms GPT-3 and requires only 75% of its training compute, as well as lower percentages of other large language models' training compute.

LLMs have a wide range of applications, including chatbots.

National Vaccination Day 2023: 16 March

National Vaccination Day is observed every year on March 16 to spread awareness about the importance of vaccinations for human health.

The theme for 2023 has not been announced by the Ministry of Health.

The day was first observed in 1995 when the Indian government started the Pulse Polio Immunisation program.

It focuses on the relevance of vaccinations in the battle against deadly diseases and appreciates the hard work of healthcare professionals.

Ayush Ministry, MoRD sign MoU for skilling of rural youth and women

The Ministry of Rural Development (MoRD) and the Ministry of Ayush signed an MoU for the skilling of rural youth and empowering women.

The MoU is valid for three years.

Under this MoU, the training program shall be funded as per Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) cost norms.

National Rural Livelihoods Mission and DDU-GKY will communicate to States/UTs for enlisting willing SHG members and rural poor youth. 

DDU-GKY is the flagship program of the MoRD. 

RBI and UAE's Central Bank sign MoU for innovation in financial services

The Reserve Bank of India (RBI) signed an MoU with the Central Bank of the UAE to promote innovation in financial products and services.

Both central banks will work together to explore Central Bank Digital Currencies.

They will also investigate interoperability between the CBDCs of CBUAE and RBI.

They will conduct proof-of-concept and pilot tests of the bilateral CBDC bridge to facilitate cross-border transactions of remittances and trade.

Solar Energy capacity tripled in last 5 years from 21651 to 64380 MW

Union Minister of Renewable Energy & Power, R. K. Singh informed in the Lok Sabha, that Solar projects of an aggregate capacity of 64,380 MW have been installed in the country (as of 28.02.2023).

India's solar capacity has increased from 21,651 MW to 64,380 MW, an increase of 197% in the last 5 years.

The Government has set a target of achieving 500 GW of installed capacity from non-fossil fuels (including around 270 GW of solar capacity) by 2030.

Bengaluru receives 'healthy city' award for smoking laws

Bengaluru won the 'Partnership for Healthy Cities' award and a cash prize of $ 150,000 for effectively enforcing smoke-free laws at a summit held in London.

The focused effort from smoke-free Bengaluru resulted in a reduction of public-place smoking from 18.2% (2017) to 13.3% (2021).

The display of 'no-smoking' signs in the city also increased from 23.1% (2017) to 75%.

The global summit brought together officials from over 50 cities to discuss public health concerns.

India’s KR Parvathy appointed as UN Resident Coordinator in Tajikistan

UN Secretary-General Antonio Guterres appointed India's Kavilmadam Ramaswami Parvathy as the United Nations Resident Coordinator in Tajikistan.

She has served in leading roles at the World Food Programme in Türkey and Afghanistan.

She has more than 30 years of experience in the development and humanitarian sectors, focusing on strategic planning, performance, risk management, people management, conflict analysis, and humanitarian access negotiations.

Anup Bagchi to head ICICI Prudential Life from June 2023

ICICI Bank's executive director Anup Bagchi will take over as the CEO of ICICI Prudential Life Insurance on June 19, 2023, subject to regulatory and statutory approvals.

He will replace the present CEO, NS Kannan, who will superannuate on June 18, 2023.

He has been working with the ICICI group since 1992 and was appointed as an executive director of ICICI Bank on February 1, 2017.

He worked as the Non-Executive Director of ICICI Prudential Life since October 2018.

FSIB recommends Ashwani Kumar as MD of UCO Bank

FSIB has recommended the executive director of Indian Bank, Ashwani Kumar as an MD of UCO Bank.

Before Indian Bank, he worked as chief general manager of the Mumbai Zone of Punjab National Bank (PNB).

He would succeed Soma Sankara Prasad, whose tenure will be completed on May 31, 2023.

The final decision on the FSIB recommendation would be taken by the ACC headed by PM Narendra Modi.

Former secretary of DoPT Bhanu Pratap Sharma headed the FSIB.

TCS appoints K Krithivasan as CEO designate

Tata Consultancy Services (TCS) has appointed veteran K Krithivasan as MD & CEO designate with effect from March 16, 2023.

He has replaced Rajesh Gopinathan, who resigned recently.

Gopinathan completed his six years as CEO and was reappointed as CEO till 2027.

He will continue with the company till September 15, 2023, and provide transition and support to K Krithivasan.

Before this role, K Krithivasan served as President and Global Head of BFSI Business Group, TCS.

Veteran actor Sameer Khakhar passes away

Actor Sameer Khakhar, best known for his role in the iconic television show Nukkad, has died at 71 due to respiratory and other medical problems.

He rose to fame with his roles in TV shows ‘Nukkad’ and ‘Circus’.

He was also featured in ‘Shrimaan Shrimati’, and ‘Adaalat’.

He also played vital roles in films, including ‘Hasee Toh Phasee’, ‘Jai Ho’, and ‘Patel Ki Punjabi Shaadi’.

He was last seen in the OTT series ‘Farzi’.

OpenAI launches 'GPT-4' with higher accuracy

The artificial intelligence research company, OpenAI has unveiled its new and more advanced model called GPT-4.

The latest version is more creative and accurate in its response.

It has better problem-solving capabilities than ChatGPT (developed by OpenAI).

GPT-4 is a large multimodal model, which cannot outperform humans in real-world scenarios but can exhibit “human-level performance on various professional and academic benchmarks.

BIS launches 'Learning Science via Standards' initiative for students

The Bureau of Indian Standards (BIS) has launched the ‘Learning Science via Standards’ series for students.

Focus: Aimed to use scientific concepts, principles, and laws to help students understand their practical applications in manufacturing, functioning, and testing of quality characteristics of different products. 

This series is in a continuum with an earlier BIS initiative under which ‘Standards Clubs’ are being established in educational institutions.

13th edition of Exercise Bold Kurukshetra concluded

The 13th edition of a bilateral armour exercise, EX Bold Kurukshetra, between India and Singapore was concluded on March 13, 2023, at Jodhpur Military Station, India.

The ten-day-long joint training that commenced on March 5, fostered a common understanding of mechanized warfare in emerging threats and evolving technologies.

It involved soldiers from the 42nd Battalion, Singapore Armoured Regiment and Armoured Brigade of the Indian Army.

Mary Kom, Farhan Akhtar roped in as brand ambassadors of Women's Boxing

The Boxing Federation of India (BFI) appointed legendary boxer MC Mary Kom and actor Farhan Akhtar as the brand ambassadors of the IBA Women’s World Championships 2023.

BFI also unveiled the title sponsor, Mahindra Automotive for the event.

The championship is scheduled from March 15 to 26 at the Indira Gandhi Sports Complex in New Delhi.

India is hosting the World Championships for the third time.

President, Boxing Federation of India: Ajay Singh. 

World Consumer Rights Day 2023: March 15

World Consumer Rights Day is celebrated on March 15 every year to raise awareness about consumer rights and promote consumer protection.

2023 Theme: Empowering Consumers Through Clean Energy Transitions

This day was first observed on March 15, 1983, which was inspired by US President John Fitzgerald Kennedy's US Congress address on March 15, 1962.

He addressed the issue of consumer rights and laid emphasis on its importance.

CCI approves Reliance’s acquisition of METRO Cash & Carry India

The Competition Commission of India (CCI) has approved Reliance Industries Ltd to acquire the German firm Metro AG's wholesale operations in India for ₹2,850 crore.

On 22 December 2022, Reliance Retail Ventures Ltd (RRVL) signed definitive agreements to acquire a 100% equity stake in Metro Cash & Carry India Pvt Ltd.

Metro started operations in India in 2003 as the first company to introduce a cash-and-carry business format in the country.

RBI has allowed banks from 18 countries to trade in rupee

RBI has granted approval to foreign banks in 18 countries to open Vostro accounts to settle international trade in rupees.

18 Countries: Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and UK. 

MoS Finance, Bhagwat Karad informed in the Rajya Sabha.

In July 2022, govt informed that it would set up a mechanism to settle international trade in rupees.

Wholesale inflation falls to two-year low of 3.85% in February

Wholesale Price-based Inflation (WPI) has been eased to two years low of 3.85% in February 2023 against 4.73% recorded in January 2023.

It will primarily contribute to the fall in the prices of crude petroleum, food products, electronics, chemicals, and electrical equipment.

In February, fuel and power rose 14.82% as compared to 15.15% in January 2023.

While the food index stood at 2.76% (Feb 2023) against 2.95% (Jan 2023).

Retail inflation (Feb 2023): 6.44%

Atal Innovation Mission launches ATL Sarthi

Atal Innovation Mission (AIM) - NITI Aayog launched ATL Sarthi.

It is a comprehensive self-monitoring framework to strengthen the ecosystem of Atal Tinkering Labs.

Atal Innovation Mission has established Atal Tinkering Laboratories (ATL) in schools to foster curiosity, creativity, and imagination in young minds.

ATL Sarthi is a charioteer and will enable the Atal Tinkering Labs to be efficient and effective.

Mission Director AIM, NITI Aayog: Dr. Chintan Vaishnav

DRDO successfully conducts flight test of Power Take off Shaft on LCA Tejas

DRDO has successfully conducted a flight test of the Power Take Off (PTO) Shaft on Light Combat Aircraft (LCA Tejas) Limited Series Production (LSP)-3 aircraft in Bengaluru.

The PTO shaft is indigenously designed and developed by the Combat Vehicles Research & Development Establishment (CVRDE), Chennai.

The PTO shaft is a critical component in the aircraft.

It supports the requirements of future fighter aircraft and their variants and offers competitive costs.

Govt appoints two Managing Directors at LIC

The government has appointed two Managing Directors (MD) of the Life Insurance Corporation of India (LIC) - M Jagannath and Tablesh Pandey.

M Jagannath took the charge as MD on March 13, 2023.

Before this, he was working as the Zonal Manager of South Central Zone, Hyderabad and

While Tablesh Pandey is an Executive Director at the Central office of LIC in Mumbai and will take charge on April 1, 2023.

Pandey will replace present managing director B C Patnaik.

Tamil writer Perumal Murugan's novel longlisted for Booker Prize 2023

Tamil writer Perumal Murugan's novel 'Pyre' has been selected for the International Booker prize longlist for 2023.

This book is a translation of his original Tamil book 'Pukkuli' which tells the story of an inter-caste couple who elope, setting in motion a story of terrifying foreboding.

Aniruddhan Vasudevan translated this novel into the English language in 2016.

Prize money: £50,000, will be split equally between the author and translator.

Veteran actor Sameer Khakhar passes away

Actor Sameer Khakhar, best known for his role in the iconic television show Nukkad, has died at 71 due to respiratory and other medical problems.

He rose to fame with his roles in TV shows ‘Nukkad’ and ‘Circus’.

He was also featured in ‘Shrimaan Shrimati’, and ‘Adaalat’.

He also played vital roles in films, including ‘Hasee Toh Phasee’, ‘Jai Ho’, and ‘Patel Ki Punjabi Shaadi’.

He was last seen in the OTT series ‘Farzi’.

OpenAI launches 'GPT-4' with higher accuracy

The artificial intelligence research company, OpenAI has unveiled its new and more advanced model called GPT-4.

The latest version is more creative and accurate in its response.

It has better problem-solving capabilities than ChatGPT (developed by OpenAI).

GPT-4 is a large multimodal model, which cannot outperform humans in real-world scenarios but can exhibit “human-level performance on various professional and academic benchmarks.

BIS launches 'Learning Science via Standards' initiative for students

The Bureau of Indian Standards (BIS) has launched the ‘Learning Science via Standards’ series for students.

Focus: Aimed to use scientific concepts, principles, and laws to help students understand their practical applications in manufacturing, functioning, and testing of quality characteristics of different products. 

This series is in a continuum with an earlier BIS initiative under which ‘Standards Clubs’ are being established in educational institutions.

13th edition of Exercise Bold Kurukshetra concluded

The 13th edition of a bilateral armour exercise, EX Bold Kurukshetra, between India and Singapore was concluded on March 13, 2023, at Jodhpur Military Station, India.

The ten-day-long joint training that commenced on March 5, fostered a common understanding of mechanized warfare in emerging threats and evolving technologies.

It involved soldiers from the 42nd Battalion, Singapore Armoured Regiment and Armoured Brigade of the Indian Army.

Mary Kom, Farhan Akhtar roped in as brand ambassadors of Women's Boxing

The Boxing Federation of India (BFI) appointed legendary boxer MC Mary Kom and actor Farhan Akhtar as the brand ambassadors of the IBA Women’s World Championships 2023.

BFI also unveiled the title sponsor, Mahindra Automotive for the event.

The championship is scheduled from March 15 to 26 at the Indira Gandhi Sports Complex in New Delhi.

India is hosting the World Championships for the third time.

President, Boxing Federation of India: Ajay Singh

World Consumer Rights Day 2023: March 15

World Consumer Rights Day is celebrated on March 15 every year to raise awareness about consumer rights and promote consumer protection.

2023 Theme: Empowering Consumers Through Clean Energy Transitions

This day was first observed on March 15, 1983, which was inspired by US President John Fitzgerald Kennedy's US Congress address on March 15, 1962.

He addressed the issue of consumer rights and laid emphasis on its importance.

CCI approves Reliance’s acquisition of METRO Cash & Carry India

The Competition Commission of India (CCI) has approved Reliance Industries Ltd to acquire the German firm Metro AG's wholesale operations in India for ₹2,850 crore.

On 22 December 2022, Reliance Retail Ventures Ltd (RRVL) signed definitive agreements to acquire a 100% equity stake in Metro Cash & Carry India Pvt Ltd.

Metro started operations in India in 2003 as the first company to introduce a cash-and-carry business format in the country.

RBI has allowed banks from 18 countries to trade in rupee

RBI has granted approval to foreign banks in 18 countries to open Vostro accounts to settle international trade in rupees.

18 Countries: Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and UK. 

MoS Finance, Bhagwat Karad informed in the Rajya Sabha.

In July 2022, govt informed that it would set up a mechanism to settle international trade in rupees.

Wholesale inflation falls to two-year low of 3.85% in February

Wholesale Price-based Inflation (WPI) has been eased to two years low of 3.85% in February 2023 against 4.73% recorded in January 2023.

It will primarily contribute to the fall in the prices of crude petroleum, food products, electronics, chemicals, and electrical equipment.

In February, fuel and power rose 14.82% as compared to 15.15% in January 2023.

While the food index stood at 2.76% (Feb 2023) against 2.95% (Jan 2023).

Retail inflation (Feb 2023): 6.44%

Atal Innovation Mission launches ATL Sarthi

Atal Innovation Mission (AIM) - NITI Aayog launched ATL Sarthi.

It is a comprehensive self-monitoring framework to strengthen the ecosystem of Atal Tinkering Labs.

Atal Innovation Mission has established Atal Tinkering Laboratories (ATL) in schools to foster curiosity, creativity, and imagination in young minds.

ATL Sarthi is a charioteer and will enable the Atal Tinkering Labs to be efficient and effective.

Mission Director AIM, NITI Aayog: Dr. Chintan Vaishnav

DRDO successfully conducts flight test of Power Take off Shaft on LCA Tejas

DRDO has successfully conducted a flight test of the Power Take Off (PTO) Shaft on Light Combat Aircraft (LCA Tejas) Limited Series Production (LSP)-3 aircraft in Bengaluru.

The PTO shaft is indigenously designed and developed by the Combat Vehicles Research & Development Establishment (CVRDE), Chennai.

The PTO shaft is a critical component in the aircraft.

It supports the requirements of future fighter aircraft and their variants and offers competitive costs.

Govt appoints two Managing Directors at LIC

The government has appointed two Managing Directors (MD) of the Life Insurance Corporation of India (LIC) - M Jagannath and Tablesh Pandey.

M Jagannath took the charge as MD on March 13, 2023.

Before this, he was working as the Zonal Manager of South Central Zone, Hyderabad and

While Tablesh Pandey is an Executive Director at the Central office of LIC in Mumbai and will take charge on April 1, 2023.

Pandey will replace present managing director B C Patnaik.

Tamil writer Perumal Murugan's novel longlisted for Booker Prize 2023

Tamil writer Perumal Murugan's novel 'Pyre' has been selected for the International Booker prize longlist for 2023.

This book is a translation of his original Tamil book 'Pukkuli' which tells the story of an inter-caste couple who elope, setting in motion a story of terrifying foreboding.

Aniruddhan Vasudevan translated this novel into the English language in 2016.

Prize money: £50,000, will be split equally between the author and translator.

After Silicon Valley Bank, Signature Bank collapse

New York-based Signature Bank was shut by regulators in the US, becoming the second bank in the country after Silicon Valley Bank.

The Federal Deposit Insurance Corporation (FDIC) has been appointed as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and others.

The standard insurance amount from FDIC is $250,000 per depositor, per bank, for each account ownership category.

SIBC, Maharashtra Govt sign MoU in sustainable infrastructure and Defence

Sweden India Business Council (SIBC) has signed an MoU with the Maharashtra government for cooperation in waste to energy, sustainable infrastructure & transportation, defense manufacturing, and investment.

The MoU was signed between SIBC and Maharashtra Industrial Development Corporation (MIDC) in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis.

Both have also agreed to work together to explore and facilitate funding opportunities.

India remains world’s largest arms importer: SIPRI Data

According to the Stockholm International Peace Research Institute (SIPRI) report, despite an 11% drop in arms import between 2013-17 and 2018-22, India remained the world’s largest arms importer from 2018 to 2022 followed by Saudi Arabia.

Russia was India’s largest arms supplier in the periods between 2013-17 and 2018-22.

But Russia's share of arms imports to India fell from 64 to 45%.

While France emerged as the second-largest arms supplier to India followed by the US.

India's retail inflation drops to 6.44% in February 2023

According to the data released by the National Statistical Office (NSO), India's retail inflation has lowered to 6.44% in February 2023 from 6.52% in January 2023.

But it remained above the upper band of the 4+/- 2 percent medium-term target of the Reserve Bank of India (RBI) for the second consecutive month.

While food inflation eased marginally to 5.95 percent in February 2023 from 6% in January 2023, inflation for cereals, milk, and fruits picked up.

Japanese Nobel-winning novelist Kenzaburo Oe passes away

Japanese novelist, Kenzaburo Oe passed away at the age of 88 on March 3, 2023, due to age-related issues.

He was known for his pacifist and anti-nuclear views.

He was honoured with the Nobel Prize in Literature in 1994 for creating "an imagined world, where life and myth condense to form a disconcerting picture of the human predicament today".

His notable works are 'A Personal Matter' and 'The Silent Cry'.

Suryoday Small Finance Bank launches special women’s savings account

Suryoday Small Finance Bank has launched a new savings account for women customers called the Blossom Women’s savings account.

Features:

Women can earn up to 7% interest rate per annum

An exclusive and free Rupay Platinum Debit Card that rewards women customers with discounts and cashback.

Monthly Interest Pay-out in the account. 

One complementary account for child (Savings Aditya Account). 

Average Monthly Balance (AMB) of ₹10,000. 

CEO of Suryoday SFB: R Baskar Babu. 

India to host SCO Tourism Ministers’ Meeting 2023 in Kashi

India will host the Shanghai Cooperation Organisation (SCO) Tourism Ministers’ Meeting (TMM) on 17th -18th March 2023 in Kashi (designated as the first cultural capital of the SCO).

During TMM, the Tourism Joint Action Plan on the Development of Cooperation in Tourism among SCO member countries would be adopted.

India will also host the SCO Food Festival in Mumbai from 13-19 April 2023.

India is the current chair of the Shanghai Cooperation Organisation (SCO).

Ministry of Jal Shakti to Identify 75 Water Heritage Sites

The Ministry of Jal Shakti had constituted a Committee to identify 75 Water Heritage Structure (WHS) in reference to 75 years of India's Independence.

A total of 421 nominations were received and out of which, Committee has recommended 75 water heritage structures.

It includes 5 WHS from Gujarat and 4 WHS from Andhra Pradesh.

At present, there is no central fund allocated / disbursed for the maintenance of these sites.

India and Sweden signed MoC to promote research networking

India and Sweden signed a Memorandum of Cooperation (MoC) to strengthen cooperation and promote research networking between research institutions from both countries.

Aim: To promote mobility funding opportunities in both countries. 

It facilitates academic cooperation through mobility activities as well as through seminars, workshops, and conferences.

This partnership will take forward joint Science and Technology efforts particularly in smart cities, AI, and many more.

38.58 crore loans extended since inception of MUDRA Yojana

According to the Mudra portal (as of 27.01.2023), more than 38.58 crore loans have been extended since the inception of the Scheme in April 2015.

Out of this, over 26.35 crore loans have been extended to Women Entrepreneurs (68%).

SC/ST/OBC category borrowers received 19.84 crore loans (51%).

As per the Ministry of Labour survey, PMMY helped in generating 1.12 crore net additional employment in the country from 2015 to 2018.

IREDA received ‘Infrastructure Finance Company’ status from RBI

The Reserve Bank of India (RBI) granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA).

Earlier, it was classified as an Investment and Credit Company (ICC).

With the IFC status, IREDA will be able to take higher exposure in RE financing.

It will also help the company to access a wider investor base for fund mobilization, resulting in competitive rates for fundraising.

Chairman of IREDA: Pradip Kumar Das

Asia's first woman loco pilot, Surekha Yadav will operate Vande Bharat

Asia's first female locomotive pilot, Surekha Yadav is now operating the Vande Bharat Express.

She operated Vande Bharat Express from Solapur to Chhatrapati Shivaji Maharaj Terminal (CSMT) in Maharashtra.

She hails from Stara, Maharashtra, and become the country's first female train driver in 1988.

She had won many awards at the state and national levels so far for her achievements.

Union Minister of Railway: Ashwini Vaishnaw

Multilateral Naval Exercise La Perouse 2023 Commences

The third edition multi-lateral maritime exercise La Pérouse 2023 started between the navies of India, Australia, French, Japan, and the United States in the Indian Ocean Region from 13-14 March 2023.

It is a biennial exercise, conducted by the French Navy.

Aim: To enhance maritime domain awareness and optimize maritime coordination amongst the participating navies in the Indo-Pacific Region

India's INS Sahyadri and fleet tanker INS Jyoti have participated.

Kochi Metro becomes first in country to accept e-rupee for parking fee

In an initiative to promote Central Bank Digital Currency (CBDC), Kochi Metro has started accepting digital currency in its parking facilities.

With this, Kochi Metro is the first Metro in the country to accept CBDC.

The program was inaugurated at the parking facility in Thykoodam and system would be introduced in all other parking areas of the Metro soon. 

The program was introduced in association with IDFC FIRST Bank partnered with Anantham Online, a technology startup. 

World Food India-2023 to take place on 3-5 November in New Delhi

The second edition of 'World Food India-2023’ will be organized from 3-5 November 2023 at Pragati Maidan, New Delhi.

The event will be organized by the Ministry of Food Processing Industries.

During the event, Union Minister Pashupati Kumar Paras outlined pivotal elements of the WFI-2023 as Millets- ‘Shree Anna-The Super Food of India’, Innovation and Sustainability ‘Green Food’, White Revolution 2.0, making India an export hub and focus on technology and digitisation.

India, US sign MoU to build resilient supply chain in semiconductor sector

India and the US inked an initial pact on increasing private-sector cooperation in the area of semiconductors.

The two countries would facilitate business opportunities and develop an ecosystem with a view to reducing their dependency on China and Taiwan.

Both sides have agreed to set up a semiconductor sub-committee, led by the Department of Commerce for the US side and MeitY and the Ministry of Commerce and Industry for the Indian side.

India and Australia sign audio-visual co-production agreement

India and Australia signed an audio-visual co-production agreement to offer filmmakers financial incentives amounting to up to 30% of the expenditure incurred in the respective countries.

The agreement was signed by I&B Secretary Apurva Chandra and Australian High Commissioner Barry O'Farrell.

Australia is the 16th country with which India has a co-production agreement.

It would benefit mainly small filmmakers keen on shooting movies in that country.

India's digital payments market will more than triple to $10 trillion

According to the report, released by PhonePe and Boston Consulting Group, India's digital payments market will more than triple from $3 trillion to $10 trillion by 2026.

In 2015, the Indian government launched its Digital India program, with the objective to achieve a “faceless, paperless and cashless” status for financial transactions at the grass-root level.

NPCI launched UPI in 2016, which enables inter-bank transactions through mobile devices instantly.

New initiative 'beggar-free city' started in Nagpur

A new initiative called 'beggar-free city' has been started in Nagpur, Maharashtra.

Commissioner of Police of Nagpur City, Amitesh Kumar informed that notification of 144 CrPC has been issued in this regard.

Notices have been served to people.

The Nagpur police will strictly enforce this and begging will not be allowed in public places.

This is the joint venture of Nagpur City police and Nagpur Municipal Corporation’s (NMC) social welfare department.

Central Railway achieves 100 % electrification of broad gauge network

The Central Railway has achieved 100% electrification of its broad gauge network of 3,825 kilometers.

The CSMT-headquartered zonal railway informed that the 52-kilometer Ausa Road-Latur Road stretch in the Solapur division was the last non-electrified section and its electrification was completed in March 2023.

This move helps in reducing carbon footprints of 5.204 lakh tonnes every year as well as savings of 1670 crore rupees. 

PM Modi dedicates Bengaluru-Mysuru Expressway in Karnataka to nation

PM Modi has dedicated the 10-lane and 118-km-long, Bengaluru-Mysuru Expressway in Karnataka to the nation.

It was constructed at a cost of over 8400 crore rupees.

It will reduce the travel time between Bengaluru and Mysuru from three hours to about 75 minutes and boost connectivity and socio-economic growth in Karnataka.

He also laid the foundation stone for the Mysuru-Kushalnagar highway.

He also inaugurated the World’s longest railway platform at Hubballi station.

First SAI 20 Senior Officers Meeting begins in Guwahati

As part of the G20 summit, the first Supreme Audit Institution 20 (SAI20) Senior Officers Meeting is being organized in Guwahati on March 13 and will continue till March 15, 2023.

Theme 2023: Blue Economy’ and ‘Responsible Artificial Intelligence. 

Aim: To bring together an ecosystem wherein SAIs are active partners in governance, promoting transparency and accountability.

SAI20 meeting was chaired by the Comptroller and Auditor General of India, Girish Chandra Murmu.

RRR Naatu Naatu wins Best Original Song at the 95th Academy Awards

RRR’s Naatu Naatu has created history by winning the prestigious Academy Awards 2023 in the Best Original song category.

The music of Naatu Naatu was given by M. M. Keeravani and Lyrics by Chandrabosedouble-dagger.

While India's The Elephant Whisperers (directed by Kartiki Gonsalves) won the award for Best Documentary Short Subject.

Best Actress: Michelle Yeoh (Everything Everywhere All at Once)

Best Actor: Brendan Fraser (The Whale)

Centre launches MSME Competitive (LEAN) scheme

Union Minister for MSME Narayan Rane launched the MSME Competitive (LEAN) Scheme on 10 March.

About the Scheme:

It aims to provide a roadmap to global competitiveness for the MSMEs of India.

The scheme will not only strive to improve quality, productivity and performance, but also change the mindset of manufacturers and provide them the ability to become world class manufacturers.

Under this scheme, MSMEs will implement LEAN manufacturing tools like 5S, Kaizen, Kanban, Visual Workplace, Poka Yoka etc. under the able guidance of trained and competent LEAN consultants to acquire LEAN levels like Basic, Intermediate and Advanced.

Through this scheme, MSMEs can significantly reduce wastage, increase productivity, improve quality, expand their markets, operate in a safer manner and ultimately become competitive and profitable.

To assist MSMEs, the government will contribute 90 per cent of the implementation cost and consultancy fee for providing initial support.

There will be an additional contribution of 5 per cent for MSMEs which are owned by women/SC/ST and are part of SFURTI clusters located in North Eastern States.

Nodal Agency of the scheme will be the National Productivity Council (NPC).

Initiatives related to MSME Sector:

The Micro, Small and Medium Enterprises Development Act was notified in the year 2006 to address policy issues affecting MSMEs as well as the coverage and investment limits of the sector.

Prime Minister's Employment Generation Program (PMEGP):- It is a credit linked subsidy scheme for setting up new micro enterprises and generating employment opportunities in rural and urban areas of the country. Commencement - 15 August 2008. 

Scheme of Fund for the Upliftment of Traditional Industries (SFURTI):- Its objective is to organise artisans and traditional industries into clusters and thus provide financial assistance to make them competitive in the current market scenario.

Credit Guarantee Scheme for Micro and Small Enterprises :- Under this scheme launched to facilitate easy flow of credit, guarantee cover is provided for collateral free loans given to MSMEs.

Credit Linked Capital Subsidy and Technology Upgradation Scheme (CLCS-TUS) :- It aims at facilitating technology up-gradation to Micro and Small Enterprises (MSMEs) by providing 15% capital subsidy for purchase of plant and machinery.

CHAMPIONS Portal:- It aims to help Indian MSMEs to establish themselves as national and global champions by resolving their grievances and providing them encouragement, support.

Uttarakhand's Rudraprayag, Tehri top landslide index: ISRO report

According to the recently released 'Landslide Atlas' report of ISRO's Hyderabad-based National Remote Sensing Center (NRSC), the two hilly districts of Uttarakhand, Rudraprayag and Tehri, are most prone to landslides.

An overview of the news:

The National Remote Sensing Center has released a list of 147 districts prone to landslides across the country, in which Rudraprayag is at number one and Tehri at number two.

Kerala's Thrissur and Palakkad districts are at 3rd and 5th spots respectively.

Rajouri and Pulwama (J&K), Kozhikode and Malappuram (Kerala), and South Sikkim and East Sikkim (Sikkim) are the other high risk districts.

Rudraprayag, which tops the list, is also home to the famous Kedarnath shrine, which witnessed a devastating disaster in 2013 that killed thousands.

Sirobgarh and Narkota areas of Rudraprayag are most affected by landslides. Landslides are reported here throughout the year.

Landslide Prone Districts:

According to the District Emergency Operation Centre, Rudraprayag has 32 old landslide zones, the maximum of which are located on NH-107.

Tehri district has over two dozen landslide zones, including Totaghatiwhich has been identified as a "very chronic landslide site".

Chamoli district, which recently came into limelight due to landslides in Joshimath, is at number 19 among the districts at risk of landslides.

As per the State Emergency Operation Center data, between 2018 and 2021, 253 landslides occurred in Uttarakhand, resulting in 127 deaths.

Over 11,000 landslides were recorded in Uttarakhand in the last two decades.

Among these, maximum landslide areas fall on Rishikesh-Rudraprayag-Chamoli-Badrinath, Rudraprayag-Ukhimath-Kedarnath, Chamoli-Ukhimath, Rishikesh-Uttarkashi-Gangotri route.

Army unfurls 100-ft-high national flag in J-K’s Doda

The Indian Army installed a 100-foot-high national flag in the mountainous Doda district of Jammu and Kashmir on 9 March.

An overview of the news:

The effort is aimed at paying a befitting tribute to the innumerable soldiers who laid down their lives for the country.

This is the second such high-mast flag hoisted by the Army in the Chenab Valley region, which was a militancy hotbed a decade ago.

In July 2022 a 100-foot-high national flag was installed in the nearby Kishtwar town.

Major General Ajay Kumar, General Officer Commanding of the Army's Delta Force, unfurled the tallest flag at the Doda Sports Stadium in Sector 9.

The national flag, which can be seen from a distance, will make every citizen feel proud for the country.

On June 24, 2007, Naib Subedar Lal, who was posthumously awarded Ashok Chakra, Vir Chakra and Sena Medal, laid down his life fighting a group of terrorists trying to infiltrate through the Line of Control (LoC) in Kupwara.

PM Modi dedicates to nation Bengaluru-Mysuru Expressway in Karnataka

Prime Minister Narendra Modi dedicated to the nation the Bengaluru-Mysuru Expressway in Karnataka on 12 March.

An overview of the news:

Built at a cost of over Rs 8400 crore, the 10-lane Bengaluru Mysuru Expressway will boost connectivity and socio-economic development in Karnataka.

The 118 km long Bengaluru-Mysore Expressway will reduce the travel time between Bengaluru and Mysuru from three hours to about 75 minutes.

Other Projects:

Mysuru-Kushalnagar Highway - The Prime Minister also laid the foundation stone of the Mysuru-Kushalnagar Highway.

New campus of IIT Dharwad - The Prime Minister also dedicated to the nation the new campus of IIT Dharwad, developed at a cost of Rs 850 crore.

World's longest railway platform- He also inaugurated the world's longest railway platform at Hubli station.

Electrification of Hosapete-Hubli-Tinaghat section - Electrification of Hosapete-Hubli-Tinaghat section and upgraded Hosapete station projects were also dedicated to the nation by the Prime Minister.

Jaidev Hospital and Research Center- He laid the foundation stone of Jaidev Hospital and Research Center in Hubli.

Smart City program of Hubli-Dharwad - Various projects worth Rs 520 crore were inaugurated and commissioned under the Smart City program in the twin cities of Hubli-Dharwad.

Dharwad Multi Village Water Supply Scheme: To augment water supply in the region, the Prime Minister laid the foundation stone of the Dharwad Multi Village Water Supply Scheme, which will be developed at a cost of over Rs 1,040 crore.

Tupparihalla Flood Damage Control Project: He also laid the foundation stone of Tupparihalla Flood Damage Control Project, which will be developed at a cost of around 150 crores.

US shuts down Silicon Valley banks in biggest collapse since 2008

California-based Silicon Valley Bank (SVB), the 16th largest bank in the United States, was closed on 9 March by the California Department of Financial Protection and Innovation.

An overview of the news:

It is the biggest banking failure since the 2008 financial crisis.

It is considered the biggest financial crisis since the collapse of Washington Mutual and Lehman Brothers during the 2008 recession.

The regulator appointed the Federal Deposit Insurance Corp. as the receiver.

As of December 31, 2022, the Silicon Valley Bank had approximately $209.0 billion in total assets and about $175.4 billion in total deposits. 

The FDIC created a new bank, the National Bank of Santa Clara, to hold the failed bank's deposits and other assets. The new entity began operating.

Why did SVB have to be shut down?

SVB announced the sale of securities worth $21 billion from its portfolio.

The company said that to strengthen its financial position, shares worth $ 2.25 billion are being sold.

The widespread slowdown in the startup industry led to high deposit withdrawals in the bank, resulting in the move.

The increase in interest rates by the Federal Deposit Insurance Corp also messed up SVB Bank's math.

Experts believe that the biggest reason for the closure of SVB was the simultaneous withdrawal of money from the bank by its investors.

About Silicon Valley banks:

It was established in 1983, it was the 16th largest bank in America.

It primarily invested in Silicon Valley based startups and provided banking related services.

It provided a range of services toventure capital and private equity firms, as well as private banking services to high net-worth individuals.

The firm had a deal with half of all venture-backed startups in the US in 2022.

As of December 31, 2022, the bank had close to $212 billion in assets with clients such as Shopify, Pinterest, VC firm Andreessen Horowitz, Crowdstrike and Teladoc Health.

Maritime Partnership Exercise (MPX) with French Navy

Indian Navy's indigenously built Guided Missile Frigate, INS Sahyadriparticipated in the Maritime Partnership Exercise (MPX) with French Navy (FN) ships in the Arabian Sea from 10 - 11 March 2023.

An overview of the news:

French Navy (FN) ships FS Dixmude, a Mistral class amphibious assault ship, and FS La Fayette, a La Fayette class frigate participated in the exercise.

The exercise featured a wide spectrum of development at sea which included cross deck landings, boarding exercises and seamanship development.

The smooth conduct of the exercise reaffirmed the high level of interoperability and cooperation between the two navies.

INS Sahyadri is equipped with state-of-the-art weapons and sensors capable of detecting and neutralizing air, surface and sub-surface threats.

The ship is a part of the Indian Navy's Eastern Fleet based at Visakhapatnam, under the operational control of FOCinC (East).

Thomas A Sangma Elected as Speaker of Meghalaya Legislative Assembly

On 10 March 2023, Thomas A. Sangma, Member (MLA) of the North Tura Legislative Assembly of Meghalaya was elected as the Speaker of the 11th Legislative Assembly of Meghalaya.

News Overview:

Thomas A. Sangma of the National People's Party (NPP) was unanimously elected as no other candidate had filed his nomination for the post of Speaker.

Sangma replaced Metbah Lyngdoh (United Democratic Party).

Chief Minister Konrad K. Sangma's Meghalaya Democratic Alliance (MDA) government has the support of 45 MLAs.

About Thomas A Sangma:

Thomas A. Sangma is an Indian politician from Meghalaya and a member of the National People's Party.

He was elected to the Rajya Sabha, the upper house of the Parliament of India, for the term 2008–2014 from the Nationalist Congress Party.

About Conrad Kongkal Sangma:

Conrad Kongkal Sangma is an Indian politician from the state of Meghalaya and is currently the Chief Minister of the state.

He took oath as Chief Minister for the second time on March 7, 2023.

Conrad Kongkal Sangma is the son of former Lok Sabha Speaker PA Sangma.

In 2008, Conrad also became the youngest Finance Minister of Meghalaya.

About Meghalaya:

It is a state in Northeast India.

Capital - Shillong

Governor -Fagu Chauhan

Chief Minister -Konrad Sangma

Anurag Singh Thakur inaugurates Youth-20 Consultation series in Pune

Union Minister for Youth Affairs Anurag Singh Thakur inaugurated the fourth Y20 consultation meeting in Pune on 11 March.

An overview of the news:

The Y20 Summit presents a unique platform for young minds to share their vision, values and ideas and develop solutions and recommendations that will be presented to the G20 leadership.

The aim of the summit is for youth to be heard and actively shape the global agenda.

Active participation of the young minds present at the event will lead to a deeper understanding of the challenges facing society and humanity and ways to solve them at the Y20 discussion platform.

About Youth 20 (Y20):

Youth 20 (Y20) is the official youth engagement group of the G20.

It provides a platform for youth to express their vision and views on G20 priorities.

It is a process that brings together young leaders from around the world to discuss and debate global challenges.

The list of policy recommendations is known as a communiqué, which is publicly announced at the Y20 summit and presented to world leaders as part of the official G20 Summit. 

India-US 5th Commercial Dialogue meeting held in New Delhi

The India-US Fifth Commercial Dialogue meeting was held in New Delhi on 10 March. 

An overview of the news:

The meeting was attended by Union Commerce and Industry Minister Piyush Goyal and US Commerce Secretary Gina Raimondo.

The two leaders acknowledged that bilateral goods and services trade is set to almost double since 2014, surpassing a recorded US$ 191 billion in 2022.

Both sides welcomed the steps taken to enhance their commercial cooperation and tap the market potential in several sectors.

Both sides welcomed the efforts being made to enable an environment for investment by small and medium-sized industries and startups.

Both ministers recognized that small businesses and entrepreneurs are the lifeblood of the US and Indian economies.

In this context, both sides announced the launch of a new working group on talent, innovation and inclusive growth under the Commercial Dialogue.

It will take forward cooperation on start-ups, SMEs, skill development and entrepreneurship, including digital and emerging technologies.

An MoU was signed between the two countries on establishing a semiconductor supply chain and innovation partnership under the framework of the Indo-US Commercial Dialogue.

India-US Commercial Dialogue:

It aims to facilitate trade and maximize investment opportunities in a wide range of economic sectors.

The last India-US commercial dialogue was held in February 2019.

Since then, it could not be held due to the pandemic and other factors.

After a gap of three years, it is proposed to relaunch the commercial dialogue with a strategic approach with a focus on supply chain resilience and diversification and new emerging sectors.

India- US trade relation:

According to the Ministry of Commerce and Industry, India is the ninth largest trading partner for the US, while the US is India's largest trading partner and largest export destination.

During the calendar year 2022, bilateral trade in goods is expected to increase significantly, crossing USD 131 billion, thus doubling from 2014 (in 8 years).

The US is also the third largest source of foreign direct investment (FDI) for India, and the US is among the top five investment destinations for India.

Indonesia moves capital from Jakarta to Borneo

Recently, the Indonesian government unveiled the site of the country's new capital.

An overview of the news:

The new capital, Nusantara, is located in the East Kalimantan province of Borneo, Indonesia.

The new capital city of the country will be called Nusantara.

The new capital will be asustainable forest city which will be developed keeping in mind the environment and will aim to achieve zero carbon emissions by the year 2045.

Why is Indonesia moving its capital?

Jakarta, the capital of Indonesia, has a population of about 10 million and three times the population of the greater metropolitan area.

It has been described as the world's fastest-sinking city and at the current rate it is estimated that a third of the city could be submerged by 2050.

The main reason for this is uncontrolled groundwater extraction, but the rising Java Sea due to climate change has increased this possibility.

Its air and groundwater are highly polluted, it floods regularly and its streets are so congested that its estimated congestion costs the economy $4.5 billion a year.

In view of all these problems, President Joko Widodo has envisioned the construction of a new capital, so that the country can have a "sustainable city".

About Indonesia:

It was earlier known as Dutch East Indies (Netherland East Indies) and it became Independent from the Netherlands on 17 August 1945.

It is the world's largest archipelago consisting of 17,500 islands.

Borneo island of Indonesia is the third largest island in the world after Greenland and New Guinea.

There are more than 100 active volcanoes in the country and the most famous being Krakatoa and Mount Merapi.

It has the world’s largest muslim population.

Capital : Jakarta

Currency : Rupiah

President : Joko Widodo

British Architect David Chipperfield Wins 2023 Pritzker Prize

British architect Sir David Chipperfield has won the 2023 Pritzker Architecture Prize.

An overview of the news:

He is a civic architect and urban planner with an extensive work plan of projects built across 3 continents.

David Chipperfield is the 52nd winner of the award, established in 1979.

Francis Kéré (Germany) was awarded the prize in 2022, and Anne Lacton (France) and Jean-Philippe Vasal (France) in 2021.

The 45th Pritzker Prize ceremony honoring David Chipperfield will be held in Athens, Greece in May 2023.

About Pritzker Architecture Prize:

It is the highest international honor for architects.

The prize was designed to honor architects for the work they built.

The prize was established in 1979 by J. A. Pritzker is funded by the Pritzker family and sponsored by the Hyatt Foundation.

Ukrainian Rights Group Truth Hounds wins Norwegian prize

Ukrainian rights group Truth Hounds, which documents war crimes in the Ukraine conflict, was on 9 March awarded Norway's Sakharov Freedom Award.

An overview of the news:

The Sakharov Freedom Award was established in 1980 with the support of Soviet scientist and Nobel Peace Prize laureate Andrei Sakharov.

The prize has been awarded to the Norwegian Helsinki Committee human rights organization Truth Hounds for "documenting war crimes and possible crimes against humanity.

Truth Hounds is a Ukrainian rights group founded during the Maidan Revolution that led to the fall of pro-Russian former Ukrainian President Viktor Yanukovych.

The award is regularly awarded to human rights defenders from the former Soviet Union.

New initiative called 'Beggar Free City' launched in Maharashtra's Nagpur

In Maharashtra, a new initiative called 'Beggar Free City' was launched in Nagpur.

News Overview:

Nagpur City Police Commissioner Amitesh Kumar said that a notice under 144 CrPC has been issued in this regard.

Notices were given to people, and chances are also not to be allowed in public places.

It is a joint venture of the Nagpur City Police and the Social Welfare Department of the Nagpur Municipal Corporation (NMC).

Nagpur Municipal Corporation (NMC) has made special arrangements in its owned shelters to restrict homeless people.

The civic bodies have also arranged a bus and an ambulance to shift the beggars caught in the police operation to their shelter homes.

About Maharashtra:

Establishment - 1st May 1960

Official Language -  Marathi

Neighbouring States - Gujarat, Madhya Pradesh, Andhra Pradesh, Karnataka, Goa, Dadra And Nagar Haveli, Chhattisgarh. 

Members of Parliament -Lok Sabaha 48 (Rajya Sabha seats 19). 

Legislature - Bicameral ( Assembly 289 and council 78 seats). 

Literacy - 82.91%

Districts - 36

Major Rivers - Tributaries of Tapti, Bhima, Godavari and Krishna. 

Capital - Mumbai. 

Population - 11.23 crore (2011 census). 

Governor - Ramesh Bais. 

Chief Minister -Eknath Shinde.

Divya Kala Mela' to be held at Bhopal Haat, Bhopal, Madhya Pradesh

Department of Empowerment of Persons with Disabilities (Divyangjan) is organizing ‘Divya Kala Mela’ from 12th to 21st March, 2023 at Bhopal Haat, Bhopal, Madhya Pradesh.

An overview of the news:

The event will be inaugurated by Hon’ble Governor of Madhya Pradesh Mangu Bhai Patel on 12Th March.

It is a unique event showcasing the products and craftsmanship of Divyang entrepreneurs/artisans from across the country.

The event will provide an exciting experience to the visitors of vibrant products from different parts of the country including Jammu & Kashmir, North Eastern States which will bring together handicrafts, handlooms, embroidery works and packaged food etc.

Around 150 Divyang artisans/artists and entrepreneurs from around 21 States/UTs will be showcasing their products and skills.

The wide range of products includes - home decor & lifestyle, clothing, stationery & eco-friendly products, packaged food & organic products, toys & gifts, personal accessories - jewelry, clutch bags etc.

It will be an opportunity for all to be 'Vocal for Local' and products made by Divyang artisans can be seen/purchased.

In December 2022, the Department of Empowerment of Persons with Disabilities organized the Divya Kala Mela at the historic Kartavya Path in New Delhi.

PNB signs MoU with Central Warehousing Corporation (CWC) to facilitate farmers' financing

On 9 March 2023 Punjab National Bank (PNB) and Central Warehousing Corporation (CWC) signed a Memorandum of Understanding (MoU) to facilitate financing undere-NWR (Electronic Negotiable Warehousing Receipt).

News Overview:

The main objective of this partnership is to provide easy finance to farmers, processors and traders against the pledge of agricultural produce stored in Central Warehousing Corporation (CWC) godowns.

About Punjab National Bank (PNB):

It is an Indian public sector bank based in New Delhi and it is the third largest public sector bank in India.

PNB has a banking subsidiary in the UK as well as branches in Dubai, Kabul, Kowloon and Hong Kong.

Established - May 1894. 

Founder - Dayal Singh Majithia, Lala Lajpat Rai.

Tagline - "The Name You Can Bank Upon".

MD & CEO -  Atul Kumar Goel. 

About Central Warehousing Corporation (CWC):

It aims to provide reliable, cost-effective, value-added, integrated warehousing and logistics services in a socially responsible and environment-friendly manner.

Established: 9 March 1957

PM Modi addresses post-budget webinar on PM Vishwakarma Kaushal Samman

Prime Minister Narendra Modi addresses the post-budget webinar on 'PM Vishwakarma Kaushal Samman (PM VIKAS)' on 11 March.

An overview of the news:

According to the Ministry of Micro, Small and Medium Enterprises, this is part of the series of 12 post-budget webinars being organized by the Government of India for ideas and suggestions for effective implementation of the initiatives announced in the Union Budget.

The Prime Minister said that through these schemes, the youth of the country are getting a lot of employment opportunities.

There is a need for a more targeted approachin the field of skill development to get better results and the PM-Vishwakarma scheme is a result of that thinking.

The objective of the PM-Vishwakarma scheme is not only to preserve the rich tradition of traditional artisans and craftsmen but also to develop them.

Now the skill infrastructure system needs to be changed according to their needs.

PM Vishwakarma Kaushal Samman Scheme:

This scheme has been announced for traditional artisans and craftsmen in the budget 2023-24.

The objective of the scheme is to improve the quality and accessibility of artisans/craftsmen by integrating them with domestic and global value chains of their products/services.

The scheme includes financial support as well as access to advanced skills, training, knowledge of modern digital technologies and efficient green technologies, brand promotion and social security.

In this scheme, more attention has been given to Scheduled Castes, Scheduled Tribes, Other Backward Classes, Women and Weaker Sections.

Under the Vishwakarma community, more than 140 castesof the country come, which cover a large population of the country.

India and Australia target $100 billion bilateral trade in next five years

Union Commerce and Industry Minister Piyush Goyal said on 11 March, Australia and India will target $100 billion trade in the next five years.

An overview of the news:

Both the countries are currently dissatisfied with the $30 billion trade.

Both countries expressed their commitment to complete negotiations to expand the scope of the existing Free Trade Agreement by the end of this year.

He was addressing the media in New Delhi on the India-Australia 18th Joint Ministerial Commission along with Australian Trade and Tourism Minister Don Farrell.

On 29 December 2022 India and Australia implemented an economic cooperation and trade agreement (ECTA).

They are now negotiating to expand its scope for a comprehensive economic cooperation agreement (CECA).

Both sides are looking at firming up the ambitious CECA by 2023.

India-Australia Trade Relations:

Australia is the 17th largest trading partner of India and India is Australia’s 9th largest trading partner. 

India-Australia bilateral trade in goods and services is pegged at US$ 27.5 billion in 2021.

India's merchandise exports to Australia grew by 135% between 2019 and 2021.

India’s exports to Australia- Manufactured goods such as petroleum, medicaments, diamonds, jewellery, railway coaches and vehicles, milled rice and herbicides.

India’s imports to Australia - 82% of its imports from Australia are coal, gold, copper ore, aluminum oxide, liquified natural gas, manganese ore, aluminum waste, pigments, lentils, etc.

Piyush Goyal chair meeting of National Startup Advisory Council

Union Minister of Commerce and Industry Piyush Goyal chaired the sixth meeting of the National Startup Advisory Council (NSAC) in New Delhi on 11 March.

An overview of the news:

The NSAC meeting deliberated on matters important for the development of the Indian startup ecosystem.

The meeting covered important topics like Tech Landscape and the way forward, Innovation in Logistics, Making India a Global Skill Market, Innovation Hub, Women Entrepreneurship, Capacity Building for Domestic Capital.

The meeting is expected to launch the Startup India Investor Connect portal, which has been conceptualized by NSAC and developed jointly by DPIIT and SIDBI.

About National Startup Advisory Council:

It was formed by the Department for Promotion of Industry and Internal Trade (DPIIT).

Its objective is to advise the Government on measures needed to build a strong startup ecosystem.

Composition:

Chairman- Minister for Commerce and Industry.

Convener of the Council- Joint Secretary, Department for Promotion of Industry and Internal Trade.

Ex-officio Members - Nominees of the concerned Ministries, Departments and Organisations not below the rank of Joint Secretary.

Non-Official Members - Founders of successful Startups nominated by the Government from various categories, people who have grown and expanded companies in India, persons capable of representing the interests of investors in Startups, etc.

Rohit Jawa has been appointed as the new CEO and MD of Hindustan Unilever Ltd.

On 10 March 2023, Rohit Jawa was appointed as the new Managing Director and Chief Executive Officer of the famous Fast- Moving Consumer Goods (FMCG) Company Hindustan Unilever Limited (HUL) Company.

News Overview:

Rohit Jawa will succeed Sanjiv Mehta, the current Managing Director and Chief Executive Officer (CEO), who will retire on March 30, 2023.

Rohit Jawa will also take over as President of Unilever South Asia from the current Chief of Transformation based in London.

About Hindustan Unilever Limited (HUL). 

It is a part of England's company Unilever, Unilever registered to do business in India.

67% of the dividend of Hindustan Unilever Limited goes to England.

Headquarters - London, England

Head Office in India - Mumbai

Established - 17 October 1933

Ujjivan Small Finance Bank launches “Unpause Initiative”

Ujjivan Small Finance Bank has launched the ‘Unpause Initiative’ to assist women who have taken a career break and are now ready to return to the workforce.

The initiative is part of the bank's commitment to promoting workplace diversity and inclusion.

The bank’s employees participated in a 3 km walk from its registered headquarters in Koramangala to support an initiative.

Ujjivan SFB has also announced a special Hiring Drive and Employee referral program for women.

Yes Bank and Aadhar Housing Finance ink co-lending partnership

Yes Bank has partnered with Aadhar Housing Finance Ltd to offer home loans at competitive interest rates to customers from lower and middle-income groups.

This partnership is in accordance with the co-lending framework of the Reserve Bank of India (RBI).

Under this framework, the RBI enables banks and non-banking companies to jointly bring forth financial solutions that cater to the requirements of unserved and underserved sections of society.

Axis MF appointed B Gopkumar as CEO of Axis Securities

B Gopkumar (MD & CEO of Axis Securities) has been appointed as the new CEO of Axis Mutual Fund.

He would replace Chandresh Nigam who has stepped down as the CEO.

Nigam's tenure will be ended April 30, 2023, and Gopkumar will take over on May 1, 2023, for a 3-year term.

Gopkumar has been in charge of Axis Securities since October 2019.

In addition, the fund house also appointed Ashish Gupta to be its new chief investment officer.

BSE, NSE shortlists 5paisa, HDFC Sec, others as qualified stock brokers

Stock exchanges BSE and NSE have designated 15 trading platforms as Qualified Stock Brokers (QSBs) with effect from July 1, 2023.

These shortlisted stock brokers are required to meet enhanced obligations and discharge additional responsibilities.

Some of the notable stock brokers in the QSB list are Zerodha Broking, 5Paisa Capital, HDFC Securities, IIFL Securities, ICICI Securities, Motilal Financial Services, Kotak Securities, and Sharekhan among others.

NASA, Italian Space Agency join hands to monitor air pollution

NASA has partnered with the Italian Space Agency,  Agenzia Spaziale Italiana (ASI) to build and launch MAIA (Multi-Angle Imager for Aerosols) missions.

Aim: To investigate the health impacts of air pollution in the world’s most populated cities.

It is the first mission of the agency whose primary goal is to benefit societal health and will launch before the end of 2024.

It will consist of the PLATiNO-2 satellite (provided by ASI), and a science instrument (NASA).

WINS Awards 2023 launched by MoHUA

The Union Minister for Housing and Urban Affairs, Hardeep Singh Puri has launched the ‘Women Icons Leading Swachhata’ (WINS) Awards 2023.

Aim: To recognize celebrate and disseminate inspiring and exemplary initiatives in urban sanitation and waste management by women-led organizations and individual women.

The applications are open from 8th March to 5th April 2023. 

Applications for the Awards are open to SHG, Micro-enterprises, NGOs, Startups, and Individuals.

International Day of Women Judges 2023: March 10

The International Day of Women Judges is observed every year on March 10 to honour all-female judges who have taken the lead in the fight against social injustice.

This day is being observed with the campaign “Women in Justice, Women for Justice”.

It is a symbolic day for the fight for gender equality and the fight against gender-based discrimination.

In April 2021, UNGA enacted resolution 75/274 designating March 10 as the International Day of Women Judges. 

FinMin tightens definition of beneficial owners under PMLA

The FinMin has tightened the definition of beneficial owners under the anti-money laundering law, mandating reporting entities to collect information from their clients.

Beneficial Owners: Any individual or group holding 10% ownership (earlier 25%) in the client of a reporting entity. 

The reporting entities are banks and financial institutions engaged in real estate and jewellery sectors.

They also include intermediaries in casinos and crypto or virtual digital assets.

Citi appoints Bhanu Vohra as head for commercial banking in India

Citi group has named Bhanu Vohra as the head of Citi Commercial Bank (CCB) business in India.

He has replaced Tushar Vikram, who is now the global head of healthcare for CCB.

He will report to Ashu Khullar (Citi India CEO) and Rajat Madhok (head of Citi Commercial Bank Asia Pacific).

The Citi Commercial Bank business addresses the banking and financial services requirements of emerging large corporates and mid-market enterprises.

India Bags Golden & Silver Star at ITB, Berlin 2023

The Ministry of Tourism of India has bagged a Golden & Silver Star at The International ‘Golden City Gate Tourism Awards 2023’ at ITB, Berlin 2023.

Category: TV/Cinema Commercials International and Country International

Arvind Singh, Secretary (Tourism) received awards on 8th March 2023 at ITB, Berlin.

The Golden City Gate Tourism Multi-media Awards are given annually in various categories related to the Tourism and Hospitality sectors.

Bank of Baroda board approves 49% stake divestment in BFSL

In an exchange filing, the Bank of Baroda has informed that the bank's board has approved divesting up to 49% stake in subsidiary BoB Financial Solutions Ltd.

Currently, BOB holds 100% of the total equity share capital of BFSL.

BFSL, a registered non-banking financial institution, is primarily involved in credit cards and merchant-acquiring businesses.

Bank of Baroda MD & CEO: Sanjiv Chadha;

Chairman: Hasmukh Adhia

BoB HQ: Vadodara

Axis Bank, ITC partner to offer rural lending products to farmers

Axis Bank and ITC (FMCG) joined hands to offer lending products and services to farmers who are a part of ITC's agriculture ecosystem.

Aim: To enable the bank to reach out to the unserved and under-served farmers across rural regions.

The bank will offer credit facilities for rural lending products like Farmer Funding loans & Gold Loans.

The bank will also leverage ITC-MAARS (Meta Market for Advanced Agricultural Rural Services) to address farmers' financial needs.

Ram Chandra Paudel elected as the third President of Nepal

Senior Nepali Congress leader Ram Chandra Paudel (78) has been elected the third President of Nepal.

He defeated CPN-UML Vice-chair Subash Chandra Nembang.

He won the presidential elections with 33,802 votes, while his opponent received 15,518 votes.

The President is elected by an Electoral College consisting of the members of the Federal Parliament and the Provincial Assembly.

The tenure of Bidya Devi Bhandari as Nepal's President will be ended on March 12.

ISRO carries out controlled re-entry experiment of decommissioned satellite

ISRO has successfully carried out an "extremely challenging" controlled re-entry experiment of the decommissioned orbiting Megha-Tropiques-1 (MT-1) satellite.

The final impact region estimated is in the deep Pacific Ocean within the expected latitude and longitude boundaries.

The low Earth satellite was launched on October 12, 2011.

It is a joint satellite venture of ISRO and the French space agency, CNES for tropical weather and climate studies.

Kotak AMC financial literacy campaign for women

On International Women’s Day 2023, Kotak Mahindra Asset Management Company (AMC) launched a digital campaign called ‘DigitALL: Innovation and technology for gender equality’.

Aim: To drive the culture of digital literacy among the women's fraternity

The campaign calls for the digital inclusion of all with the hashtag, #IncludeAll.

The digital campaign showcases Kotak group’s women employees sharing their stories about supporting and empowering other women in their lives.

No Smoking Day 2023: March 8

No Smoking Day is observed on the second Wednesday of March.

In 2023, No Smoking Day falls on March 8.

Aim: To encourage people to quit smoking and raise awareness about its harmful effects on their health. 

This year’s theme is: “Stopping smoking improves your brain health".

The United Kingdom witnessed that people in the country are getting addicted to smoking.

Earlier, it was celebrated on the first Wednesday of March as it began on Ash Wednesday.

Sebi puts restrictions on cos opting share buyback via stock exchange route

SEBI has imposed restrictions on the placement of bids, price, and volume for the companies undertaking share buyback through the stock exchange route, effective on March 9, 2023.

A company will not be able to purchase more than 25% of the average daily trading volume of its shares in the 10 trading days preceding the day in which such purchases are made.

The company will not place bids in the first 30 minutes and the last 30 minutes of the regular trading session.

Bollywood actor, director Satish Kaushik passes away

Bollywood actor-director Satish Kaushik passed away at the age of 66 in Delhi due to cardiac arrest.

Kaushik was an alumnus of the National School of Drama (NSD) and the Film and Television Institute of India (FTII).

He was known for his iconic roles in Mr. India, Tere Naam, Roop Ki Rani Choron Ka Raja, Deewana Mastana, Brick Lane, Saajan Chale Sasural among others.

Kaushik is fondly remembered for penning the dialogues for the 1983 cult classic "Jaane Bhi Do Yaaron".

PM Modi to inaugurate 3rd Session of NPDRR

PM Narendra Modi will inaugurate the 3rd Session of the National Platform for Disaster Risk Reduction (NPDRR) in New Delhi on March 10, 2023.

Theme: Building Local Resilience in a Changing Climate. 

It is jointly organized by the Home Ministry, National Disaster Management Authority, National Disaster Response Force, and National Institute of Disaster Management.

It will comprise four Plenary Sessions, one Ministerial Session, and eight Thematic Sessions.

ECI to host the 3rd International Conference

The Election Commission of India (ECI) hosted the 3rd International Conference in virtual format on 09 March 2023.

Theme: Inclusive Elections and Elections Integrity

ECI is leading the Cohort on Elections Integrity which was established as a follow-up to the ‘Summit for Democracy’ held virtually in December 2021.

Chief Election Commissioner Rajiv Kumar and Election Commissioners Anup Chandra Pandey and Arun Goel addressed the Conference. 

Trade in crypto currency to be covered under India's money laundering laws

As per the Finance Ministry notification, the exchange between virtual digital assets and fiat currencies, the exchange between one or more forms of virtual digital assets, and the transfer of virtual digital assets will be covered under the money laundering act.

The safekeeping or administration of virtual digital assets and the participation in financial services related to the offer and sale of virtual digital assets will also come under the preview of the Act.

J&K govt launches plantation drive on International Women's Day 2023

Jammu and Kashmir's government has celebrated International Women's Day 2023 (March 8) by organizing a plantation program under the theme “Ped Lagao Beti Ke Naam”.

The initiative involved women and girls in afforestation, environmental conservation, and creating awareness.

Over one thousand saplings of various species were planted along the National Highway Ring Road NH-44, at Chak Avtara Panchayat of Bishnah Tehsil of Jammu district.

Maharashtra to introduce 4th women's policy

Maharashtra Deputy CM, Devendra Fadanvis has informed that the state government will introduce the fourth women's policy.

Aim: To give more opportunities to women

State Government initiative:

To introduce a rehabilitation scheme for those above 18 years old girls from the orphanage.

To start a Hirkani Room (Kaksha) for breastfeeding mothers at the police station.

Govt also proposed to provide equal and dignified positions to women in all sectors.

Australian PM Anthony Albanese arrives in India for four-day visit

Australian PM Anthony Albanese arrived in Ahmedabad, Gujarat on a state visit to India on March 8, 2023.

During his four-day tour, he will also visit Mumbai and Delhi as well.

He will be accorded a ceremonial welcome at Rashtrapati Bhawan on 10th March and call on President Droupadi Murmu.

He will hold the Annual Summit with PM Modi to discuss areas of cooperation under the India-Australia Comprehensive Strategic Partnership.

Captain Shaliza Dhami becomes first woman to command combat unit in IAF

Group Captain Shaliza Dhami (Ludhiana) has been selected by the Indian Air Force to take over a frontline combat unit's command in the western sector.

She becomes the first woman officer in the history of the IAF to be given the frontline combat unit command.

Currently, she is posted in the operations branch of a frontline command headquarters.

She also served as flight commander of a Chetak unit at the Hindon air base- both firsts for an IAF woman officer.

ISRO receives Indo-US jointly developed NISAR satellite

The US Air Force handed over an earth observation satellite, NASA-ISRO Synthetic Aperture Radar (NISAR) to ISRO on March 8, 2023.

A US Air Force C-17 aircraft carrying the NISAR has landed in Bengaluru, Karnataka.

It was jointly developed by NASA and ISRO.

This satellite will be used by ISRO for a variety of purposes including agricultural mapping, and landslide-prone areas.

It is a Low Earth Orbit (LEO) observatory.

It will map the entire globe in 12 days.

Yaoshang festival begins in Manipur

The Yaoshang festival has begun in Manipur on March 7, 2023, and will continue for five days.

The festival is celebrated by the Meetei who are predominantly Hindu and it is celebrated at the same time as Holi.

However, during the Yaoshang festival, apart from playing with colour, the festival also witnessed a number of cultural and religious activities for five days.

The Manipur Governor and CM conveyed warm greetings to the people of Manipur.

Ashwini Vaishnaw released special ‘Go Green, Go Organic’ cover for Sikkim

Union Minister Ashwini Vaishnaw and four Sikkim ministers released a unique cover of the Department of Posts, 'Go Green, Go Organic' for Sikkim.

The special cover is a testament to the state's achievements in organic farming and progress and a reminder of the importance of sustainable development for the entire country.

Sikkim is the first state in the world to get recognized as an Organic state by the World Book of Records (London).

India installs ‘World’s first’ bamboo crash barrier on Maharashtra Highway

The Ministry of Road Transport and Highways has installed a 200-meter-long Bamboo Crash Barrier on the Vani-Warora Highway in Maharashtra.

The highway connects the Chandrapur and Yavatmal districts of the state.

This Bamboo Crash Barrier has been christened as ‘Bahu Balli’.

Bahu Bali:

The bamboo species used in the making of this barrier is Bambusa Balcoa.

It is treated with creosote oil and coated with recycled High-Density Poly Ethylene (HDPE).

Odisha CM unveils Dakota aircraft for public viewing in Bhubaneswar

Odisha's CM, Naveen Patnaik has unveiled the iconic Dakota aircraft of legendary leader Biju Patnaik for public viewing at the Bhubaneswar Airport.

It was unveiled on the 107th birth anniversary of the former CM of Odisha.

It was brought from Netaji Subhas Chandra Bose International Airport, Kolkata to Bhubaneswar on January 18, 2023.

A 10-member team of Aerospace Research Development required has dismantled the aircraft and packed it in proper shape for public viewing. 

Max Life partners with Ujjivan SFB to offer life insurance solutions

Max Life Insurance and Ujjivan Small Finance Bank have partnered to offer life insurance offerings to Ujjivan SFB’s customers.

Through this partnership, both will offer a range of savings, protection, retirement, and group life insurance plans to Ujjivan SFB customers.

Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Limited.

Ujjivan Small Finance Bank Limited began its operations in February 2017.

International Women's Day 2023: 8th March

International Women's Day is observed every year on March 8 to raise awareness about gender equality and create a better society free of gender bias.

The day celebrates women and addresses issues such as women's equal rights, violence and abuse against women, and reproductive rights.

2023 Theme:  DigitALL: Innovation and technology for gender equality. 

This theme emphasizes the importance of technology in bringing gender issues to light.

Indian Navy successfully tests MRSAM from INS Visakhapatnam

The Indian Navy successfully fired a medium-range surface-to-surface missile (MRSAM) from INS Visakhapatnam.

Reason: To validate the capability of the anti-tank missiles

MRSAM was developed by the Defence Research and Development Organisation (DRDO) and Israel Aerospace Industries (IAI) and produced at Bharat Dynamics Ltd.

The DRDO has already handed over two other versions to Indian Army and Indian Air Force to augment the country’s air defense power.

BSE & UN Women India launches a new programme 'FinEMPOWER'

Bombay Stock Exchange (BSE) and UN Women India launched a new program named 'FinEMPOWER' on 8th March 2023.

It is a year-long joint capacity-building program between BSE and UN Women to empower women toward financial security.

BSE and UN Women India collaboratively organized the 'Ring the Bell for Gender Equality' ceremony to accelerate investment in women leaders and entrepreneurs at BSE.

MD and CEO of BSE: Sundararaman Ramamurthy

Arun Subramanian becomes first Indian-American judge in NY District court

Indian-American Arun Subramaniam has been confirmed as the first South Asian District Judge for the Southern District of New York.

His nomination was confirmed by Senate Majority Leader Senator Chuck Schumer by a vote of 58-37.

He received his Juris Doctor (J.D) from Columbia Law School in 2004 and his BA from Case Western Reserve University in 2001.

South District New York notably has one of the largest South Asian-American populations in the country.

Manik Saha sworn in as chief minister of Tripura for second time

Dr. Manik Saha has been sworn in as the new chief minister of Tripura for the second consecutive term.

Tripura governor Satyadeo Narain Arya administered the oath to him at Vivekananda Maidan in the capital city of Tripura, Agartala.

The oath ceremony was attended by PM Modi and Home Minister Amit Shah.

In 2022, he was made the chief minister after replacing Biplab Deb.

He joined the BJP in 2016 after quitting Congress.

He was elected to the Rajya Sabha in March 2022.

Himachal govt hikes monetary award for Mahila Vikas Protsahan Puraskar

Presiding over a state-level event for International Women's Day (8th March), Himachal Pradesh CM Sukhvinder Singh Sukhu has announced a nearly five-fold increase in the monetary award under the Himachal Pradesh Mahila Vikas Protsahan Puraskar.

The monetary award for the Mahila Vikas Protsahan Puraskar has been hiked to Rs 1 lakh from the current Rs 21,000.

The allowance for district-level awards has been raised from Rs 5,000 to Rs 25,000.

Mirabai Chanu wins BBC Indian Sportswoman of the Year 2022

Weightlifter Mirabai Chanu has won the 2022 BBC Indian Sportswoman of the Year award after a public vote.

She becomes the first athlete to win the award twice in a row after winning for the year 2021.

At the 2020 Tokyo Olympics, she became the first Indian to win a silver medal in weightlifting.

Other BBC awards for 2022:

Para Sportswoman: Bhavina Patel (TT Player). 

Lifetime Achievement Award: Pritam Siwach (Women Hockey Player). 

Emerging Player: Nitu Ghanghas (Boxer). 

Mauganj became the 53rd District of Madhya Pradesh

Madhya Pradesh CM Shivraj Singh Chouhan announced that Mauganj, a tehsil of Rewa district, will be the 53rd district of state.

It will be developed by joining four tehsils of Rewa district.

Four tehsils: Mauganj, Hanumana, Nai Garhi, and Deotalab.

Residents of Mauganj were raising the demand for a separate district for a long time.

He has also released 605 crore in the bank accounts of 27,000 beneficiaries of the Sambal Yojana in financial distribution program.

Conrad Sangma sworn-in as Meghalaya Chief Minister

National People's Party president, Conrad K Sangma, has taken oath as the chief minister of Meghalaya for the second consecutive term.

Governor Phagu Chauhan has administered the oath of office to Sangma.

The sworn-in ceremony was attended by PM Narendra Modi, BJP president JP Nadda and home minister Amit Shah.

While Nationalist Democratic Progressive Party (NDPP)'s Neiphiu Rio will take oath as Nagaland chief minister.

Delhi international airport among cleanest in Asia-Pacific: ACI

According to the Airport Council International (ACI), Delhi airport has been ranked among the cleanest airports in Asia-Pacific.

ACI is a trade association of global airports.

The airport service quality award is based on passenger surveys carried out to rate customer satisfaction on the day of travel.

It covers over 30 performance indicators across key elements of a passenger’s airport experience such as ease of finding your way and dining offerings.

Red Bull's Max Verstappen wins 2023 Bahrain Grand Prix

Red Bull's driver, Max Verstappen has won the season-opening Bahrain Grand Prix 2023, held at Bahrain International Circuit.

He defeated Red Bull's Sergio Perez, who placed second in the race.

It was the first time he had won in Bahrain and also the first time he had triumphed in a Formula One opener.

Fernando Alonso (Aston Martin's driver) placed third followed by C. Sainz Jr. (Ferrari's driver).

Jan Aushadhi Diwas 2023: 7th March

The 5th Jan Aushadhi Diwas is being organized on 7th March 2023 across India to enhance awareness about the scheme and promote generic medicines.

Theme 2023: Jan Aushadhi – Sasti bhi Acchi bhi. 

The Ministry of Health in collaboration with the Pharmaceuticals & Medical Devices Bureau of India (PMBI), and States/UTs.

A week-long event is being organized in different cities all across the country from March 1-7, 2023.

This day was first observed on March 7, 2019.

RBI initiates 75 digital villages programme

The RBI Governor, Shaktikanta Das has launched the Mission ‘Har Payment Digital’ during the Digital Payments Awareness Week 2023, which is being observed from March 6 to 12, 2023.

Campaign theme: Digital Payment Apnao, Auron ko bhi Sikhao (Adopt digital payments and Also teach others). 

RBI has launched a program to adopt 75 villages and convert them into digital payment-enabled villages.

Payment system operators (PSOs) will adopt these villages across the country.

Share of female borrowers in retail loans rises to 26%

According to the CRIF High Mark, the total retail loan outstanding was Rs 100.28 lakh crore in Dec 2022, up from Rs 81.91 lakh crore a year ago.

The share of female borrowers in the retail loans outstanding has gone up to 26% at Rs 26.07 lakh crore as of Dec 2022 from 25% (Rs 20.47 lakh crore) in Dec 2021. 

Major retail loan products availed by female borrowers in India: Gold loans (42% share), Education loans (35%), Home loans (32%), and Loans against property (29%). 

RBI’s home price index increases across India despite rate hikes

The All India Home Price Index (HPI), released by the RBI, has recorded a 2.79% growth (year-on-year) to 302 in the third quarter (ended December) of 2022-23 as compared with 293.8, despite the rise in interest rates.

On a quarter-on-quarter sequential basis, the index rose from 298, an increase of 1.34%, from September 2022.

The Y-o-Y movements in HPI varied widely across the cities, ranging from a growth of 7.1% (Kochi) to a contraction of 9% (Jaipur).

All Pension portals to be integrated into Single Portal

MoS, personnel, public grievances, and pensions, Dr. Jitendra Singh informed that the Department of Pension & Pensioners’ Welfare will integrate all the pension portals - Pension Disbursing Bank portals, ANUBHAV, CPENGRAMS, CGHS, etc into a single portal.

These portals will be integrated into the form of the newly created “Integrated Pensioners’ Portal” (https://ipension.nic.in).

Aim: To ensure the ease of living for the elder citizens

23rd Commonwealth Law Conference begins in Goa

Governor of Goa, P.S. Sreedharan Pillai has inaugurated the 23rd Commonwealth Law Conference in Goa, which is being held from March 5-9, 2023.

The event was also attended by Union Minister for Law, Kiren Rijiju, and Goa CM Pramod Sawant.

Minister also informed that the government had started eCourts phase III to make Indian Judiciary completely paperless.

500 delegates from 52 countries attended the Conference.

It is a platform for open discussions on critical issues.

SS Dubey takes charge as new Controller General Of Accounts

S.S. Dubey, a 1989-batch Indian Civil Accounts Service (ICAS) officer, has taken charge as the 28th Controller General of Accounts (CGA) effective from 6th March 2023.

Prior to this role, he was an Additional Controller General of Accounts, Public Financial Management System (PFMS).

CGA is ‘the Principal Advisor’ on Accounting matters to the Union Government.

CGA is also responsible for exchequer control and internal audits for the Central Government.

No sale of gold jewellery without HUID from April 1

The Bureau of Indian Standards (BIS) has prohibited sale of hallmarked gold jewellery or gold artefacts without the six-digit alphanumeric hallmark unique identification number (HUID) after March 31, 2023.

Aim: To protect consumers and enhance their confidence in the purchase of hallmarked gold jewellery.

It would ensure traceability and assure quality in gold jewellery.

The six-digit HUID number was introduced on July 1, 2021.

SWAMIH Fund completed 20 557 homes since inception in 2019

The Special Window for Affordable and Mid-Income Housing (SWAMIH) Investment Fund has completed 20,557 homes worth ₹12,000 crore since its inception in 2019.

About SWAMIH Investment Fund:

It was launched in November 2019.

Aim: To complete stressed and brownfield properties registered under Real Estate Regulatory Authority (RERA).

SWAMIH investment fund is a government-funded initiative and it is managed by the State Bank Group's SBICAP Ventures Limited.

President Murmu launched ‘Catch the Rain-2023’ campaign

President Droupadi Murmu has launched the ‘Catch the Rain-2023’ as part of efforts to turn the conservation of water into a mass campaign in the run-up to the monsoon season.

The theme of the 2023 campaign was ‘Source Sustainability for Drinking Water'.

The president also conferred 18 awards under Swachh Bharat Mission – Grameen, Jal Jeevan Mission, and National Water Mission.

She has released a compendium of case stories titled ‘Swachh Sujal Shakti Ki Abhivyakti’.

World Bank to lend $1 billion to support India’s health sector

The World Bank will lend up to $1 billion to India to strengthen its health infrastructure.

The lending will be divided into two complementary loans of $500 million each.

The bank will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM) which was launched in October 2021.

The loans will priorities health service delivery in seven States - Andhra Pradesh, Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu, and Uttar Pradesh.

India's per capita income doubled since 2014-15

According to National Statistical Office (NSO), the estimated annual per capita (net national income) at current prices for 2022-23 is Rs 1,72,000, showing a growth of around 99% from Rs 86,647 in 2014-15.

However, after adjusting for inflation (constant prices), the per capita income has risen by approximately 35% from Rs 72,805 in 2014-15 to Rs 98,118 in 2022-23.

The average growth of India’s per-capita income in real terms from 2014 to 2019 was 5.6 percent per annum.

India ranks 108th on Electoral Democracy Index 2023

According to the V-dem Democracy report 2023, India ranks 108th in the Electoral Democracy Index.

India's ranking dipped from the 100th position in 2022 to 108th this year in the report's Electoral Democracy Index (EDI) while 97th in the Liberal Democracy Index (LDI).

Denmark ranked first with the highest comprehensive score of 0.89 in the LDI, followed by Sweden, Norway, Switzerland, and Estonia. 

Pakistan slipped two steps lower at 106th in the LDI and 110th in the EDI. 

HDFC Bank recommends re-appointment of Sashidhar Jagdishan MD for 3 yrs

The board of directors of HDFC Bank has recommended the reappointment of Sashidhar Jagdish an as managing director and CEO for three years, with effect from 27 October 2023.

The Bank also informed that it is subject to the approval of the Reserve Bank of India (RBI) and the shareholders.

Sashidhar Jagdishan joined the Bank in 1996 and was appointed as a chief financial officer in 2008, after which he was appointed as the MD and CEO.

First edition of Naval Commanders' Conference of 2023 begins

The first edition of the 2023 Naval Commanders' Conference has been started on March 6, 2023.

The first phase of the conference is held onboard India's first indigenous aircraft carrier, INS Vikrant, in the Arabian Sea off Goa.

Rajnath Singh addressed the Naval Commanders onboard INS Vikrant.

This conference serves as a platform for Naval Commanders to discuss important security issues at the military-strategic level and interact with senior government functionaries. 

UN inks ‘High Seas Treaty’ in a bid to protect ocean bodies of the world

The United Nations (UN) has inked the first ‘High Seas Treaty’ in a bid to protect the ocean bodies of the world that lie outside the national boundaries and form almost two-thirds of the world's oceans.

This treaty now brings 30% of the world's oceans into the protected domain, puts more money into marine conservation, and sets new rules for mining at sea.

The last agreement on ocean protection was signed 40 years ago in 1982 - the UN Convention on the Law of the Sea.

Karnataka beats Meghalaya to clinch Santosh Trophy football after 54 years

Karnataka won its 5th Santosh Trophy National Football Championship title after defeating Meghalaya by 3-2 in the final at the King Fahd International Stadium in Riyadh, Saudi Arabia.

Karnataka last won the title 54 years ago.

Earlier, Services won third place beating Punjab 2-0 in the play-off match held before the final.

Most successful team: West Bengal (32 titles). 

Santosh Trophy was founded in 1941 and organized by the All India Football Federation (AIFF).

Godrej & Boyce, Renmakch sign MoU to develop a 'Make-in-India’ value chain

The flagship company of the Godrej Group, Godrej & Boyce has partnered with Renmakch to collaborate on Machinery & Plant (M&P) projects for Railways and Metro Rail, offering ‘Made in India' world-class equipment.

With the help of this partnership, Godrej & Boyce will be able to offer a complete value chain ranging from design to building for the Railways.

The Company has been a trusted partner of the Indian Railways for over 15 years.

Himachal CM launches UPI e-services for Kangra Central Cooperative Bank

Himachal Pradesh CM Sukhvinder Singh Sukhu has launched Unified Payment Interface (UPI) and 'Swadhan-e-pension-Gov' services for Kangra Central Cooperative Bank.

Aim: To make bank transactions easier and quicker, especially for the elderly and those living in remote areas. 

These services would  benefit thousands of account holders of the bank.

He also released the bank's annual calendar on this occasion.

IRCTC, HDFC Bank launch co-branded travel credit card

Indian Railway Catering and Tourism Corporation Ltd (IRCTC) and HDFC Bank partnered to launch a co-branded travel credit card -  IRCTC HDFC Bank Credit Card.

It is a co-branded card, in a single variant, and is available on NPCI's Rupay network.

This is the third tie-up of IRCTC after the State Bank of India and Bank of Baroda.

The card will provide exclusive benefits and maximum savings on bookings of train tickets.

Chairman & MD, IRCTC: Rajni Hasija. 

NSE gets SEBI nod to launch WTI Crude Oil, Natural Gas futures contracts

The National Stock Exchange (NSE) has received the approval from Securities & Exchange Board of India (SEBI) to launch the rupee-denominated NYMEX WTI Crude Oil and Natural Gas (Henry Hub) futures contracts in its commodity derivatives segment.

Earlier, NSE had signed a data licensing agreement with CME Group allowing NSE to list, trade and settle rupee-denominated NYMEX WTI Crude Oil and Natural Gas derivatives on its platform.

NSE MD:  Ashishkumar Chauhan

NTPC commissions India’s first Air cooled condenser

NTPC has commissioned India’s first air-cooled condenser at the North Karanpura supercritical thermal plant in Jharkhand.

It would help in water conservation.

This project has been envisaged with Air Cooled Condenser (ACC) which has almost 1/3rd water footprint as compared to a conventional Water Cooled Condenser (WCC).

NTPC started commercial operation of 1st unit of 660 MW at North Karanpura (3X660 MW) on March 1, 2023.

Karnataka Bank appoints Abhishek Sankar Bagchi as new CFO

Karnataka Bank has appointed Abhishek Sankar Bagchi as a chief financial officer (CFO) on a contract basis.

He has replaced Muralidhar Krishna Rao, whose tenure has been completed on 1 March 2023.

He has over 18 years of work experience in RBI reporting, strategic planning, fund management, financial reporting, financial planning & control, taxation, and budgeting.

He was CFO and Head of Finance at NSDL Payments Bank since September 2017.

World Bank’s Women, Business and the Law 2023 report released

According to the 9th Women, Business and the Law 2023 report, released by World Bank, UAE has topped the MENA (Middle East and North Africa) region with 82.5 scores out of 100. 

Belgium, Canada, and Denmark topped all eight indicators. 

India scored 74.4 out of 100.

Indicators: Mobility, Workplace, Pay, Marriage, Parenthood, Entrepreneurship, Assets, and Pension. 

It is an annual report that analyzes laws and regulations affecting women’s economic opportunity in 190 countries. 

Vo Van Thuong elected as new President of Vietnam

The Vietnam lawmakers have elected the candidate of the ruling Communist Party, Vo Van Thuong (52) as the new President of the country.

His election comes after the sudden resignation of his predecessor Nguyen Xuan Phuc in January 2023, who the Party blamed for wrongdoing and violations.

A total of 487 out of 488 deputies present at the National Assembly voted for him.

He is the youngest member of the party’s Politburo (the country’s top decision-making body).

President inaugurates 7th International Dharma-Dhamma Conference in Bhopal

President Droupadi Murmu inaugurated the 7th International Dharma-Dhamma Conference at Bhopal (MP) on March 3, 2023, and will continue till March 5, 2023.

Theme: Eastern Humanism for the New Era

Aim: To bring together religious, political, and thought leaders from Dharma-Dhamma traditions to ponder over building a philosophical framework for the emerging new world order. 

Organized by: India Foundation in collaboration with Sanchi University of Buddhist-Indic Studies. 

India host Quad Foreign Ministers meeting in New Delhi

India hosted the Quad Foreign Ministers in New Delhi on March 3, 2023.

External Affairs Minister Dr. S. Jaishankar chaired the meeting.

The Foreign Ministers of Australia and Japan and the Secretary of State of the US participated in the meeting.

It is an opportunity for the Ministers to continue their discussions held at their last meeting in New York in September 2022.

QUAD: It is a strategic security dialogue between Australia, India, Japan, and the US.

Health Ministry received Porter Prize 2023

The Union Health and Family Welfare Ministry has received the Porter Prize 2023.

The ministry was honored for the government's strategy in managing COVID-19, its approach, and the involvement of various stakeholders (involvement of ASHA workers to create PPE Kits).

It was announced during 'The India Dialog' at Stanford University, California.

Porter Prize: This award was named after award-winning economist Michael E. Porter.

Minister for Health: Dr. Mansukh Mandaviya

IPS officer Rashmi Shukla appointed Director-General of Sashastra Seema Bal

The Appointments Committee of the Cabinet has approved the appointment of a 1988 batch IPS officer of the Maharashtra cadre, Rashmi Shukla as director general of Sashastra Seema Bal (SSB) till her superannuation (30.06.2024).

Presently, she is serving as the Additional Director General of CRPF.

SSB: A border protection force of India deployed along the borders with Nepal and Bhutan.

SSB Founded: 1963;

Headquarters: New Delhi

Hekani Jakhalu becomes first woman MLA in Nagaland history

Hekani Jakhalu of the Nationalist Democratic Progressive Party (NDPP) has created history by becoming the first woman MLA of the Nagaland Assembly.

She was announced the winner from the Dimapur-III constituency in the 2023 Nagaland Assembly elections.

She defeated Azheto Zhimomi of LJP (Ram Vilas) by 1,536 votes.

Of 31,874 votes counted in the constituency, she received 45.16% of the votes, just ahead of the LJP (RV)’s Azheto Zhimomi who received 40.34% votes.

February GST collection at Rs 1.50 lakh crore, up 12% YoY

According to the Finance Ministry, the government collected Rs 1,49,577 crore as gross goods and service tax (GST) revenue in the month of February 2023.

This amount was increased by around 12% on an annual basis (YoY).

India's GST revenue in February 2022 was Rs 1,33,026 crore.

Of the total revenue collected, CGST is Rs 27,662 crore, SGST is Rs 34,915 crore, IGST is Rs 75,069 crore while cess is Rs 11,931 crore (including Rs 792 crore collected on import of goods).

Moody’s raises GDP growth forecast for India to 5.5% in 2023

Global rating firm Moody’s Investors Services has raised the growth projection of India to 5.5% in 2023 from the earlier projection of 4.8 percent in November 2022.

Moody's also projected the growth of India at 6.5% in 2024.

According to Moody’s projection, India’s growth rate in 2023 is the highest among G20 countries.

It is followed by China (5 %) and Indonesia (4.8%).

The US is expected to grow by 0.9%, the Euro area by 0.5%, Japan by 1.5%, and the UK (-0.4%).

Government e-Marketplace (GeM) commemorates the success of “SWAYATT”

Government eMarketplace (GeM) has commemorated the success of “SWAYATT” initiative.

This initiative aims to promote Startups, Women, and Youth Advantage Through eTransactions (SWAYATT) on GeM.

It was established by GeM in February 2019.

Goal: To stimulate the inclusion of diverse categories of sellers and service providers on the portal.

It was achieved by taking aggressive measures to simplify their training and registrations.

GeM CEO: P.K. Singh

Bajaj Finserv gets nod from Sebi to launch mutual fund business

Bajaj Finserv Ltd has received the final registration from SEBI to commence its mutual fund operations under Bajaj Finserv Mutual Fund.

Bajaj Finserv Mutual Fund, with Bajaj Finserv Asset Management Ltd (BFAML) as the Investment Manager, will soon offer a range of mutual fund products.

The products include equity, debt, and hybrid funds, both in the active and passive segments, for investors.

BFAML CEO: Ganesh Mohan

Bajaj Finserv Chairman: Sanjiv Bajaj

Pakistan PM appoints first Ambassador for Kartarpur Corridor

Pakistan Prime Minister, Shehbaz Sharif has appointed Sardar Ramesh Singh Arora as the Ambassador-at-Large for Kartarpur Corridor.

This appointment is part of efforts to attract Sikh pilgrims from across the world.

He hails from Kartarpur in Narowal.

He is also the central general secretary of the Pakistan Muslim League (N) minorities wing.

This corridor links Gurdwara Darbar Sahib in Pakistan with the Dera Baba Nanak shrine in Gurdaspur district, Punjab, India.

Asia's longest ever cycle race flagged off from Srinagar, J&K

Asia's longest-ever cycle race was flagged off from Bakshi Stadium in Srinagar (J&K) and will culminate at Kanyakumari (Tamil Nadu).

The race will cover the longest highway, National Highway-44 distance of 3651 kilometers, passing through twelve major states, three major metropolitan cities, and over twenty major cities of the country.

It has been accorded the status of Asian Ultracycling Championship by the World Ultracycling Association.

Agri Minister Narendra Singh Tomar inaugurates Pusa Krishi Vigyan Mela

Agriculture and Farmers Welfare Minister Narendra Singh Tomar has inaugurated the three-day-long Pusa Krishi Vigyan Mela in New Delhi.

It is being organized with the theme Nutrition, Food, and Environmental Protection with Shree Anna.

The event also conducts technical sessions on contemporary issues in Agriculture, including the development of Shree Anna-based value chain, Smart Farming Model, Sustainable Agriculture, and Farmer Producer Organisations.

Govt approves contract with L&T for acquisition of 3 cadet training ships

The Indian govt has approved the signing contract with Larsen and Toubro Limited for the acquisition of three Cadet Training Ships.

The delivery of these indigenously designed, developed, and constructed ships are scheduled to commence in 2026.

These ships can use to train the officer cadets at sea and can be deployed for the evacuation of people.

They can also train cadets from friendly countries to strengthen diplomatic relations.

Cost: 3,108 crore rupees (Overall)

Govt approves procurement of 70 HTT-40 Basic Trainer Aircraft for IAF

The Indian government has approved the procurement of 70 HTT-40 Basic Trainer Aircraft from Hindustan Aeronautics Limited (HAL) for the Indian Air Force.

Reason: It will meet the shortage of basic trainer aircraft of IAF for the training of newly inducted pilots.

The HTT-40 is a turboprop aircraft designed to have good low-speed handling qualities and provide better training effectiveness.

The aircraft will be supplied over six years.

Cost: 6,828 crore rupees

UAE: World’s first free zone for digital and virtual asset companies

The government of Ras Al Khaimah, one of the seven emirates of the United Arab Emirates (UAE), plans to establish RAK Digital Assets Oasis.

This announcement was made at the Blockchain Life 2023 conference.

It would be the world's first free zone dedicated to digital and virtual asset companies.

This would be a purpose-built, proper innovation-enabling free zone for non-regulated activities in the virtual assets sector.

UAE Capital: Abu Dhabi; 

UAE Currency: Dirham

Bola Tinubu wins the Nigeria's presidential election

The ruling party candidate, Bola Tinubu (70) has defeated vice president Atiku Abubakar (opposition People’s Democratic Party) to win the disputed presidential election in Nigeria.

He received 37%, Atiku Abubakar polled 29%, and Labour's candidate Peter Obi received 25% of the vote.

The opposition parties dismissed the poll as a sham and demanded a rerun.

He will become Nigeria’s fifth elected president since 1999.

Nigeria Capital: Abuja;

Currency: Naira

Vinod Kumar Shukla wins PEN/Nabokov Lifetime Achievement Award 2023

Hindi writer Vinod Kumar Shukla (87) has won the 2023 PEN America award for lifetime achievement in literature.

It is one of the most coveted literary prizes worldwide.

His acclaimed novels like Naukar Ki Kameez (1979) and poetry collections like Sab Kuch Hona Bacha Rahega (1992).

He was awarded the Sahitya Akademi award in 1999 for Naukar Ki Kameez, the Atta Galatta-Bangalore Literature Festival Book Prize in 2019, and the Mathrubhumi Book of the Year award in 2020.

Kerala temple deploys life-size ‘robotic elephant’ for festival

A Kerala temple, Irinjadappilly Sree Krishna Temple (Thrissur district), has introduced a life-size motorized model of an elephant for performing rituals such as carrying processional deities.

The 11-foot-tall robotic elephant, weighing 800 kg and made of an iron frame and rubber coating, was donated by People for Ethical Treatment of Animals (PETA) India.

Film actor Parvathy Thiruvothu joined hands with PETA in donating the robotic elephant, which cost 5 lakh rupees.

First Anti-Corruption G20 Working Group meeting organizes in Gurugram

The first Anti-Corruption Working Group (ACWG) meeting of the G20 is being organized in Gurugram, Haryana from 1st - 3rd March 2023.

The ACWG was joined by over 90 delegates from 20 member countries, 10 Invitee countries, and 9 International Organizations.

Aim: To strengthen International Anti-corruption mechanisms

G 20 ACWG meetings have one Chair (Presidency country) and one co-chair country.

The co-chair for the G20 ACWG 2023 is Italy.

8th Edition of Raisina Dialogue to be held on March 2 in New Delhi

The 8th Edition of the Raisina Dialogue will be organized from 2-4 March 2023 in New Delhi.

The Dialogue will be inaugurated by PM Narendra Modi and joined by the PM of Italy, Giorgia Meloni as the Chief Guest.

Theme 2023: Provocation, Uncertainty, Turbulence: Lighthouse in the Tempest

It is a flagship conference of India on geopolitics and geo-strategy.

It is organized by the Ministry of External Affairs in collaboration with Observer Research Foundation.

Credit growth of banks accelerates 16.8% in December quarter: RBI

According to the data released by the Reserve Bank of India (RBI), the credit growth of Indian banks has doubled to 16.8% in the October-December quarter (2022-23) from a year earlier.

Bank credit had expanded by 8.4% in the quarter that ended December 2021 and 17.2% in the quarter that ended September 2022.

The aggregate deposits of banks increased by 10.3% year-on-year in the December quarter.

Banks' credit-deposit ratio rose further to 75.9% in the December quarter.

India's GDP registers growth of 4.4% in Oct-Dec of the current fiscal

According to the Union ministry of statistics, India's Gross Domestic Production (GDP) growth has been registered at 4.4% in the October-December third quarter of the current fiscal (2022-23).

GDP in the third quarter of 2022-23 is estimated at Rs 40.19 lakh crore, as against Rs 38.51 lakh crore in the third quarter of 2021-22.

The real GDP is estimated to grow at 7% for the current FY compared to 9.1% in 2021-22.

While Nominal GDP is estimated to grow at 15.9 percent.

ISRO successfully conducts flight test of cryogenic engine for Chandrayan-3

ISRO has successfully conducted the flight acceptance hot test of the CE-20 cryogenic engine for the Chandrayan-3 mission.

The test was successfully conducted on February 24 at the ISRO Propulsion Complex, Mahendragiri, Tamil Nadu.

The hot test was carried out for a planned duration of 25 seconds at the High Altitude Test Facility.

The engine will power the Cryogenic Upper Stage of the LVM3 launch vehicle of the mission.

Chandrayaan-3 is India’s third moon mission.

Purushottam Rupala launched National Surveillance Programme phase 2

Union Minister for fisheries and animal husbandry, Purushottam Rupala, has launched phase 2 of the National Surveillance programme.

Reason: For aquatic animal diseases and genetic improvement programme. 

Aim: To help the farmers to identify and report the disease and also offer solutions. 

The government has allocated 33 Crore rupees for a period of three years for the implementation of the programme.

The crop insurance scheme for shrimp-growing farmers was also launched.

India wins GSMA Government Leadership Award 2023

India has been awarded the prestigious GSM Association (GSMA) Government Leadership Award 2023 at Mobile World Congress Barcelona on 27 February 2023.

Reason: For implementing best practices in telecom policy and regulation. 

Minister for Communications, Ashwini Vaishnaw has also informed that the Right of Way (RoW) permissions which used to take more than 230 days, now get approval within 8 days.

More than 85% of mobile tower clearances are now instantaneous.

NSDC, HTMi sign MoU to empower youth for the hospitality & tourism Sector

National Skill Development Corporation (NSDC) has signed two MoUs with HTMi, and Lamrin Tech Skill University.

NSDC and HTMi: It aims to provide certificates, diplomas, advanced diplomas, and certification courses in hospitality trades to aspiring students.

NSDC, HTMi, and LTSU: LTSU as an implementation partner for the first phase of this partnership,  NSDC & HTMi envisage similar such partnerships as the program gets scaled up.

India and Lithuania agreed to work in the areas of deep tech Start-Ups

India and Lithuania have agreed to work in the areas of deep tech startups and forge lasting ties in the manufacturing of semiconductor chips.

Minister Jitendra Singh and Economy and Innovation Vice Minister of Lithuania, Karolis Aemaitis discussed ways and means to revive the 2010 agreement in the area of science and tech.

In 2010, a revised Indian counter-draft with a few modifications was formally submitted to the Lithuanian and its formal response is still awaited.

Union Minister Dr Jitendra Singh launches VAIBHAV Fellowships

Union MoS (Independent Charge) Science & Technology, Dr. Jitendra Singh has launched the VAIBHAV Fellowship scheme for the Indian Diaspora abroad. 

Aim: To improve the research ecosystem of India’s Higher Educational Institutions by facilitating academic and research collaborations between Indian Institutions and the best institutions in the world

Eligible applicant:

Should be NRI, PIO, or OCI.

Must have obtained Ph.D/M.D/M.S degree from a recognized University.

MeitY launched Grievance Appellate Committee

The Ministry of Electronics and Information Technology (MeitY) has launched a digital platform - Grievance Appellate Committee (GAC).

It was established by Union MoS Electronics and IT, Rajeev Chandrasekhar.

It is a faceless dispute-resolution mechanism that would make all platforms (big and small) accountable to digital citizens.

In accordance with the modified IT Regulations, 2021, the IT Ministry announced that three GACs must be established.

Rajesh Malhotra appointed as Principal DG of PIB

Rajesh Malhotra, a 1989-batch IIS officer, has been appointed as the Principal Director General of the Press Information Bureau (PIB), with effect from March 1, 2023.

He succeeded Satyendra Prakash, who was superannuated on February 28, 2023.

He was associated with the ECI as in-charge of media and communication for 21 years (1996-2017).

While Priya Kumar was named the Director General of Doordarshan News (DD News).

She will succeed Mayank Agrawal.

Ranveer Singh appointed as the brand ambassador of Pepsi co

Beverage maker PepsiCo has appointed actor Ranveer Singh as its brand ambassador and also unveiled a new campaign targeting younger consumers.

He joined Pepsi's growing league of celebrity endorsers.

The brand roped in actor Salman Khan in 2019.

More recently, it also announced KGF actor, Yash as the brand’s new face.

“Rise up Baby" is a youth movement that brings alive in different flavors.

4th National Protein Day: 27 February

The 4th National Protein Day is observed across the nation on 27th February as an annual awareness day to highlight the importance of adequate protein consumption.

Theme 2023: Easy Access to Protein for All

It was first observed on 27th February 2020.

This day was initiated by the Right To Protein (RTP) with a focus on raising awareness of adequate protein consumption for better health and nutrition.

Protein is a macronutrient essential to building muscle mass.

MP Cabinet approves Ladli Behna Yojana

Madhya Pradesh cabinet, headed by Chief Minister Shivraj Singh Chouhan, has approved the Mukhyamantri Ladli Behna Yojana to empower women at every level.

Under this scheme, Rs 1000 (month) will be deposited in the account of women, irrespective of their class or caste, whose age is above 23 years.

The Yojana will be launched on March 5, 2023.

The applications are very simple, the team will visit to fill out the application in their village itself.

UP Govt signs Rs 5,000 crore MoA with Tata Technologies to upgrade 150 ITIs

UP government has signed a Memorandum of Association (MoA) of over Rs 5,000 crore with Tata Technologies to upgrade 150 ITIs in the state.

Aim: To help the youth upgrade their skills and make them fit for the modern-day industry

This MoA will also help in the skill development of the youth of the state and will be helpful in taking forward the programs of Tata Technologies.

The trained youth will be able to get jobs in prestigious institutions of Tata and abroad.

IOC plans to set up green hydrogen plants

Indian Oil Corporation Chairman, Shrikant Madhav Vaidya has revealed that the company is planning to set up green hydrogen plants at all its refineries by 2047.

It is part of a Rs 2-lakh crore green transition plan to achieve net-zero emissions.

It is also planning to set up a 7,000 tonnes p.a. green hydrogen-producing facility.

IOC is restructuring its business with a greater emphasis on petrochemicals to hedge volatility in the fuel business.

Meta launches LLaMA model, a mightier research tool than OpenAI's GPT-3

After OpenAI’s ChatGPT, Google BARD, now Meta Platforms, Inc. has introduced a new research tool that will soon aid in building AI-based chatbots.

The company has publicly released its Large Language Model Meta AI (LLaMA).

LLaMA is a state-of-the-art foundational language model.

It is developed to assist researchers in their work in the subfield of AI.

This would be Meta’s third LLM after Glactica and Blender Bot 3 that were shut down immediately after incorrect results.

Radio telescope 'ALMA' is set to get software and hardware upgrades

Radio telescope, the Atacama Large Millimetre/submillimetre Array (ALMA) is set to get software and hardware upgrades.

Reason: To collect more data and produce sharper images than ever before

ALMA is a radio telescope comprising 66 antennas located in the Atacama Desert of northern Chile.

The upgradation would take around five years to finish.

It is operated under a partnership between the US, and 16 countries in Europe, Canada, Japan, South Korea, Taiwan, and Chile.

Karnataka's Byndoor to get country's first marina

Karnataka CM Basavaraj Bommai has confirmed, that state will get India's first Marina which will be constructed at Byndoor in the Udupi district.

Aim: To promote coastal tourism in the state

The state government has received permission from the Government of India for the relaxation of Coastal Regulation Zone rules.

The government also proposed to build a corridor of ancient temples like Madhukeshwara (Banavasi) and Dattatreya (Ganagapura) and promote Yatra tourism.

Govt plans 10 'Clean Plant Centres' to boost fruit crop production

The government is planning to set up 10 ‘Clean Plant Centres’ to boost the domestic production of the selected crops.

These centres were already established in developed countries such as the US, Netherlands, and Israel.

They will be set up under the ‘Atmanirbhar Clean Plant Program’.

It was announced by FM Nirmala Sitharaman in the Union Budget 2023-24.

These centres will be established for fruit crops with a budget of Rs 2,200 crore in the next seven years till 2030.

National Science Day 2023: 28th February

India observed National Science Day on February 28 to honor the Indian scientist and physician, Chandrasekhara Venkata Raman as C.V. Raman for discovering the Raman Effect.

Sir C V Raman received the Nobel Prize in 1930 for his discovery.

Theme 2023: Global Science for Global Wellness

Theme highlights: India’s emerging role on the global stage and its increasing visibility in the international community. 

This day was first celebrated in India in 1986.

PM of Italy Giorgia Meloni on 2 day visit to India

Italy PM, Giorgia Meloni will be on a two-day visit to India on 2nd March 2023 with Deputy Prime Minister and Foreign Minister Antonio Tajani and a high-powered business delegation.

The Italian Prime Minister will be the Chief Guest and Keynote Speaker at the 8th Raisina Dialogue, 2023.

Indian PM Narendra Modi and his Italian counterpart will hold discussions on bilateral, regional, and global issues.

Both countries are celebrating 75 years of diplomatic relations.

Shailesh Pathak appointed FICCI secretary general

The Federation of Indian Chambers of Commerce and Industry (FICCI) has confirmed the appointment of former bureaucrat Shailesh Pathak as its secretary general, with effect from 1 March 2023.

FICCI also announced that director general, Arun Chawla will be superannuated on June 30, 2023, and transition to an advisory role.

He has worked with the government as an IAS officer as well as helmed large companies in the private sector.

FICCI President: Shubhrakant panda

Lionel Messi wins Best Men's Player 2022 at the FIFA awards

Lionel Messi (35) won FIFA's best men's player of the year for 2022 after winning his maiden World Cup title with Argentina in December 2022 in Qatar.

While Alexia Putellas (Spain) was awarded the best women's player for a second straight year.

Other awardees:

Best fans award: Argentina

Fairplay award:  Luka Lochoshvili (Georgia)

Best men's coach: Lionel Scaloni (Argentina)

Best women's coach: Sarina Wiegman

Best goal (Puskas award): Marcin Oleksy