NATIONAL UPDATES:
1.
Prime Minister Narendra Modi unveils the statue of Chhatrapati Shivaji Maharaj:
Prime
Minister Narendra Modi has unveiled a tall statue of great Maratha warrior Chhatrapati
Shivaji Maharaj in Pune, Maharashtra. The Statue is made up of 1,850 kg of
gunmetal and is about 9.5-feet tall. He also launched a 12-km stretch of
32.2-km-long metro rail project at a total cost of more than ₹ 11,400 crores in
Pune. Pune Metro is the first project in India to have aluminium body coaches,
indigenously manufactured under the ‘Make in India’.
PM Modi also laid the foundation stone for
the rejuvenation and pollution abatement of the Mula-Mutha River projects in
Pune. The rejuvenation will be done in a 9 km stretch of the river under the
project which will cost more than Rs 1080 crore.
2.
2000 km network to be brought by Indian Railways under ‘KAVACH’ in 2022-23: The trial of the
‘Kavach’ functioning system between Gullaguda and Chitgidda Railway stations
was examined by Shri Ashwini Vaishnaw, Union Minister of Railways,
Communication, Electronics and Information Technology. 2,000 km of railway
network will be brought under Kavach for safety and capacity augmentation in
2022-23, as a part of Prime minister’s Atmanirbhar Bharat.
Key Points:
a)
During
the testing, both locomotives were travelling towards each other, creating a
head-on collision situation.
b)
The
‘Kavach’ system activated the automatic braking mechanism, bringing the
locomotives to a complete stop 380 metres apart.
c)
The
locomotive was also tested crossing the red light; however, the locomotive did
not pass the red signal because ‘Kavach’ required the automated deployment of
brakes.
d)
When
the gate signal neared, the automatic whistle sounded loud and clear. During
the trial, the crew did not touch the sound or brake systems manually.
e)
When
the locomotive was ran on the loop line, the speed restriction of 30 km/h was
checked. As the locomotive approached the loop line, ‘Kavach’ automatically
decreased the speed to 30 km/h from 60 km/h.
KAVACH:
a)
The
KAVACH is an ATP system created in India by the Research Design and Standards
Organisation (RDSO) in partnership with Indian industry, with testing
facilitated by South Central Railway, to meet the corporate goal of train
safety across Indian Railways. It’s a cutting-edge electronic system that meets
Safety Integrity Level – 4 criteria.
b)
KAVACH
is designed to protect trains by preventing them from passing the Danger (Red)
signal and colliding.
c)
It
prevents collisions between two locomotives equipped with a functional KAVACH
system by automatically activating the train braking system if the driver fails
to regulate the train according to the speed regulations.
3.
India Global Forum annual summit held in Bengaluru: India Global
Forum’s (IGF) annual summit is being organized in Bengaluru, Karnataka. The
summit will bring together eminent faces of tech-driven disruption and those
who have joined the unicorn club along with Union ministers, policymakers, and
global business leaders. The previous editions were hosted in Dubai and the UK
and addressed by esteemed speakers like Prime Minister Narendra Modi, the PM of
the UK Boris Johnson amongst other leaders from Governments and industry across
the globe.
This is the first-ever edition of IGF at
Bengaluru. The agenda-setting forum for international business and global
leaders, IGF, offers a selection of platforms that corporates and policymakers
can leverage to interact with stakeholders in their sectors and geographies of
strategic importance.
4.
MSME Ministry launches “SAMARTH” Special Entrepreneurship Promotion Drive for
Women: Ministry
of Micro, Small & Medium Enterprises has launched a Special
Entrepreneurship Promotion Drive for Women named –“SAMARTH”. The drive was
launched by Union Minister for MSME, Shri Narayan Rane along with Minister of
State for MSME, Shri Bhanu Pratap Singh Verma in New Delhi.
Under the Samarth initiative of the
Ministry, the following benefits will be available to aspiring and existing
women entrepreneurs:
a)
20%
Seats in free Skill Development Programs organized under skill development
schemes of the Ministry will be allocated for Women. More than 7500 women will
be benefitted.
b)
20%
of MSME Business Delegations sent to domestic & international exhibitions
under the schemes for Marketing Assistance implemented by Ministry will be
dedicated to women-owned MSMEs.
c)
20%
Discount on annual processing fee on NSIC’s Commercial Schemes Special Drive
for registration of women-owned MSMEs under Udyam Registration.
INTERNATIONAL UPDATES:
1.
Hybrid form United Nations Environment Assembly held in in Nairobi, Kenya: The United Nations
Environment Assembly was hosted by the UN Environment Programme. It brings
together representatives from the UN’s 193 member countries, corporations,
civil society, and other stakeholders to agree on policies to address the
world’s most serious environmental concerns. AIM:
a)
The
aim of UNEA-5 was “Strengthening Actions for Nature to Achieve the Sustainable
Development Goals,” emphasising the importance of nature in our lives as well
as in social, economic, and environmental sustainability.
b)
Its
goal was to give nations the impetus they needed to build on and catalyse
global environmental initiatives to safeguard and restore the natural world on
which our economy and societies rely.
Key Points:
a)
Nations
resolve to build a legally enforceable accord in the fight against plastic
pollution, marking a watershed moment in the effort.
b)
The
UN Environment Assembly comes to a close with 14 decisions aimed at reducing
pollution, protecting the environment, and restoring it around the world.
c)
The
United Nations Environment Assembly’s fifth session was held online, which was
hosted from Nairobi from February 28 to March 2, 2022.
d)
UNEA-5
provided an opportunity for Member States to present their finest
sustainability initiatives.
2.
Pakistan again placed on FATF’s grey list: The global money laundering and
terrorist financing watchdog, Financial Action Task Force (FATF), retained
Pakistan in the grey list and asked the country to work on money laundering
investigations and prosecutions. FATF also added the United Arab Emirates (UAE)
to its grey watchlist. The decision has been taken after the conclusion of the
four-day FATF Plenary from March 1-4, 2022. The event took place in hybrid mode
from Paris, France. Pakistan has been on the grey list of FATF since June 2018
for failing to check money laundering and terror financing. It was given a plan
of action to complete it by October 2019 but it fails to comply with the FATF
mandates.
FATF grey list:
a)
FATF
grey list is the list in which jurisdictions under increased monitoring are
placed. If a jurisdiction is placed under increased monitoring, this means that
jurisdiction is committed to resolving strategic deficiencies within agreed
timeframes.
b)
Jurisdictions
under the FATF grey list actively work with FATF to address strategic
deficiencies in their regime to fight against money laundering and terrorist
financing.
Note: FATF Founded: 1989; FATF Members: 39;
FATF Headquarters: Paris, France; FATF President: T Raja Kumar (Singapore).
3. No
Smoking Day: 9th March: No Smoking Day is celebrated on the second Wednesday
in the month of March every year across the world. This year No Smoking Day
will be celebrated on 9th March. The day is celebrated to help those who wish
to quit smoking as well as to raise awareness about the implications of smoking
on an individual’s health.
The main reason to observe this day is to
spread awareness and educate people about the adverse impacts of tobacco on
their health through cigarettes and other means. No Smoking Day was first
observed in the year 1984 in the Republic of Ireland on Ash Wednesday. It was
on this day that the clergy determined that giving up cigarettes will be a good
thing for Lent.
OTHER UPDATES:
SPORTS
1.
Priyanka Nutakki becomes the 23rd Woman Grandmaster of India: 19-year-old
Priyanka Nutakki has secured her final WGM-norm at MPL’s forty-seventh National
Women Chess Championship. She became India’s twenty-third Woman Grandmaster.
She is from Vijayawada, Andhra Pradesh. Priyanka Nutakki scored her first
WGM-norm in January 2019 and crossed the 2300 rating criteria in the next two
months. However, much like a lot of players, the Covid-19 pandemic delayed her
title hopes.
Priyanka braved the odds, resumed playing
over-the-board tournaments in October 2021 at ChessMood Open. In her third
over-the-board tournament of the year, she scored her second WGM and maiden
IM-norm at the 7th Sunway Sitges Open 2021.
BANKING AND FINANCE
1.
Axis Bank and Airtel tie-up to boost India’s digital ecosystem 2022: Axis Bank and
Bharti Airtel have entered into a strategic partnership to strengthen the
growth of the digital ecosystem in India, through a range of financial
solutions. The partnership would enable access to credit and various digital
financial offerings from Axis Bank to Airtel’s 340 million-plus customers.
These will include first-of-its-kind co-branded credit card ‘Airtel Axis Bank
Credit Card’ with industry-leading benefits, pre-approved instant loans, Buy
Now Pay Later offerings and many more.
About the credit card:
a)
The
Airtel Axis Bank Credit Card will offer a host of benefits such as cashback,
special discounts, digital vouchers and complimentary services to Airtel
customers.
b)
The
credit card users will enjoy exciting rewards like 25 per cent cashback on
Airtel Mobile/DTH recharges, Airtel Black and Airtel Xstream Fiber payments, 10
per cent cashback on electricity/gas/water bill payments via Airtel Thanks app,
10 per cent cashback on spends with preferred merchants – BigBasket, Swiggy,
Zomato, 1 per cent cashback on all other spends and Amazon e-voucher of Rs 500
on card activation within 30 days of issuance.
Note: Axis Bank CEO: Amitabh Chaudhry; Axis
Bank Headquarters: Mumbai; Axis Bank Founded: 1993, Ahmedabad.
Bharti Airtel CEO: Gopal Vittal; Bharti
Airtel Founder: Sunil Bharti Mittal; Bharti Airtel Founded: 7 July 1995.
BUSINESS AND ECONOMY
1.
Future Generali India Insurance Launches ‘FG Dog Health Cover’ Insurance: Future Generali
India Insurance Company Limited (FGII) has announced the launch of FG Dog
Health Cover, comprehensive health insurance for pet dogs, along with
industry-first ‘Emergency Pet Minding’ cover. The FGII also focuses on a
digital campaign named ‘Oh My Dog!’ with an aim to create awareness on
purchasing dog health insurance cover and also targets on social media like
Instagram and Twitter.
Key points:
a)
The
insurance policy covers pet dogs aged between six months to four years for
giant breeds and seven years for small, medium, and large breeds. The exit age
is ten years for small, medium, and large breeds and six years for giant
breeds.
b)
This
comprehensive cover will protect pet parents against the cost of their dogs’
surgery and hospitalisation, terminal illness, mortality, and funeral expenses.
With add-on covers, pet parents will, also, be able to insure their dogs
against third-party liability, theft or loss, emergency pet minding, veterinary
consultation, and doctor on call.
c)
With
FG Dog Health Cover, pet parents will be able to choose their a veterinarian,
budget their pet care costs, and avoid the dip into emergency funds with easy
documentation.
Note: FGII CEO: Anup Rau; FGII Headquarters
location: Mumbai; FGII Founded: 2000.
DEFENCE
1.
9th India-Sri Lanka Bilateral Maritime Exercise SLINEX begins: The 9th edition of
India – Sri Lanka Bilateral Maritime Exercise named SLINEX (Sri Lanka–India
Naval Exercise) is held at Visakhapatnam from 07 Mar to 10 Mar 2022. The aim of
the exercise is to enhance interoperability and improve mutual understanding
between the navies of the two neighbouring countries in the strategically
significant Indian Ocean Region.
Key points:
a)
The
exercise was held in two phases; First is the Harbour Phase at Visakhapatnam on
07-08 Mar 22 followed by the second phase i.e. Sea Phase on 09-10 Mar 22 in the
Bay of Bengal.
b)
Indian
Navy is being represented by INS Kirch, a guided missile corvette while Sri
Lanka Navy will be represented by SLNS Sayurala, an advanced offshore patrol
vessel. Sri Lanka Navy is being represented by SLNS Sayurala, an advanced
offshore patrol vessel and the Indian Navy by INS Kirch, a guided missile
corvette.
Aim of the exercise: SLINEX aims to enhance interoperability, improve mutual understanding and also exchange best practices and procedures for multi-faceted maritime operations between both navies. The harbour phase includes professional, cultural, sporting and social exchanges. Exercises during sea phase will include surface and anti-air weapon firing exercises, seamanship evolutions, aviation operations including cross-deck flying, advanced tactical manoeuvres and special forces operations at sea.
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