Latest Current Affairs For Tuesday 14th March, 2023

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)

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.