Latest Current Affairs For Thursday 23rd March, 2023

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.

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.