Latest Current Affairs For Monday 27th March, 2023

Luis Caffarelli won the Abel Prize for 2023

Luis Caffarelli (74) was honored with the 2023 Abel Prize for his seminal contributions to regularity theory for nonlinear partial differential equations including free-boundary problems and the Monge-Ampère equation.

The prize includes a monetary award of 7.5 million kroner and a glass plaque (designed by Norwegian artist Henrik Haugan).

It is awarded by the Norwegian Academy of Science and Letters, on behalf of the Ministry of Education.

NGT fines ₹10 crore on Kerala govt for failure to protect Ramsar sites

The Principal Bench of the National Green Tribunal (NGT) in New Delhi has imposed a penalty of ₹10 crore on the Kerala government for its failure to check the indiscriminate pollution of the Vembanad and Ashtamudi lakes (listed as Ramsar sites).

The Bench was led by its chairperson Adarsh Kumar Goel.

The penalty of ₹10 crore had to be utilized for conservation/restoration measures by preparing an action plan to be preferably executed within six months. 

Union Cabinet extends subsidy of 200 rupees per cylinder for Ujjwala Yojana

The Cabinet Committee on Economic Affairs has extended the subsidy of 200 rupees per LPG cylinder for a period of one year, under the PM Ujjwala Yojana.

It will be provided to the Ujjwala Yojana beneficiaries for up to 12 refills per year.

The total expenditure on it in 2022-23 will be 6,100 crore rupees and in 2023-24 will be 7,680 crore rupees.

The government launched PM Ujjwala Yojana in May 2016 to provide deposit-free LPG connections to women of poor households.

Cabinet approves 4 % hike of Dearness Allowance to Central Govt employees

The central government has increased the Dearness Allowance (DA) by 4%, taking the total to 42% of the Basic Pay for central government employees and pensioners.

The Union Cabinet has given its approval to release an additional installment of DA to Central Governments employees and Dearness Relief to Pensioners with effect from 1st January 2023.

The combined impact on the exchequer on account of both DA and Dearness Relief will be over 12,815 crore rupees per annum.

UAE Food Bank launches initiative to eradicate food waste

The UAE Food Bank launched an initiative to distribute three million meals and food parcels to disadvantaged individuals and families during Ramadan.

Aim: To raise public awareness regarding the crucial goal of achieving zero food waste. 

For this initiative, the organization has partnered with Ne’ma -the national initiative to reduce food loss and wastage, to enhance community awareness, education, and empowerment in making better decisions regarding food consumption.

Co-founder of Intel, Gordon Moore passes away

Intel co-founder and creator of Moore's Law, Gordon Moore passed away at the age of 94 in Hawaii.

He was the driving force behind the development of modern computing devices.

He started working on semiconductors in the 1950s and co-founded the Intel Corporation in 1968.

He was best known for coining Moore's law which predicted the speed of advances in computer chips that came to explain the exponential improvement in technology of all kinds.

Nitu Ghanghas wins Gold in IBA Womens World Boxing Championship 2023

Indian Woman boxer, Nitu Ghanghas has clinched Gold in the 48-kg category of the IBA Women's World Boxing Championship 2023 held at the K.D. Jadhav Hall IG Stadium New Delhi.

She defeated Altantsetseg Lutsaikhan from Mongolia by 5-0.

She became the only sixth Indian boxer (male or female) to win a World championship.

In the semifinals, she defeated Kazakh Alua Balkibekova.

International Boxing Association (IBA) Headquarters: Lausanne, Switzerland. 

International Day of Remembrance of the Victims of Slavery: 25th March

International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade is observed every year on March 25 to raise awareness of the history of the transatlantic slave trade, its impact on the modern world, and its legacies, including racism and prejudice.

2023 theme: Fighting Slavery's Legacy of Racism Through Transformative Education. 

It was established in 2007 with the adoption of General Assembly resolution 62/122. 

RBI imposes Rs 30 lakh penalty on Karur Vysya Bank

The Reserve Bank of India (RBI) has imposed a penalty of Rs 30 lakh on Karur Vysya Bank for violating rules.

Reason: For non-compliance with certain provisions of directions issued by RBI on 'Reserve Bank of India (Frauds - Classification and reporting by commercial banks and select FIs) directions 2016'. 

The penalty was imposed in the exercise of powers conferred on RBI under the provisions of Section 47 A(1) of the Banking Regulation Act, 1949.

Former Brazilian President Dilma Rousseff elected as new President of NDB

The board of the New Development Bank (NDB) has appointed former Brazilian President, Dilma Vana Rousseff as the new President of the Bank, with immediate effect.

She has replaced Marcus Troyjo.

She served as the President of the Federative Republic of Brazil between January 2011 to August 2016.

She was elected the President of Brazil for two consecutive terms.

NDB is a multilateral financial institution set up by the five BRICS countries.

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.