Latest Current Affairs For Tuesday 7th March, 2023

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).

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.