Latest Current Affairs For Saturday 4th March, 2023

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

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

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

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

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

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

J&K Bank wins award for Best Performance in CASA

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

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

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

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

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

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

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

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

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

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

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

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

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

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

India overtakes China as most attractive emerging market for investing

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

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

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

World Population Day 2023: 11 July

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

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

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

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

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

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

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

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

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

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

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

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

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

OCA elects Sheikh Talal as the new President

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

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

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

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

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

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

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

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