Latest Current Affairs For Friday 17th March, 2023

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.

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.