Daily GK Update- 15th Mar, 2023

NATIONAL UPDATES:

 

1. 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.

 

2. 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.

 

3. 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

 

4. 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

 

5. 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.

 

6. 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.

 

7. IIT Guwahati partnered with Sathya Sai Hospital for cardiac research: The Indian Institute of Technology Guwahati has signed an MoU with Sri Sathya Sai Heart Hospital, Ahmedabad to foster Cardiac research. It was signed to provide digital transformation, degradation, and information sharing related to cardiac diseases. In collaboration with IIT Guwahati, we are looking forward to proceed with an R&D-led approach to find the cause of cardiac diseases and prevent it by sharing knowledge with respective stakeholders. The Government of Assam has also inked an MoU with the Hospital to conduct sophisticated heart surgeries on 500 children

 

8. India’s retail inflation drops to 6.44% in February 2023: According to the Ministry of Statistics and Programme Implementation, India’s consumer price inflation (CPI) based inflation eased marginally to 44 percent in February 2023. This is lower than 6.52 percent in January but still above the Reserve Bank of India’s (RBI) upper tolerance limit of 6 percent. The rural inflation was 6.72 percent and urban inflation was 6.10 percent. The combined food inflation was also near 6 percent limit at 5.95 percent. It was 6 percent in January. The RBI has raised its benchmark repo rate by 250 basis points since May last year. According to reports, there is expectations of another 25 basis points hike to 6.75 percent in April before it hits the pause button. The RBI earlier lowered the CPI forecast to 6.5 percent for the current fiscal from 6.7 percent. Before that in December, the inflation was at a one-year low of 5.72 percent.

 

9. Shreya Ghodawat appointed as India’s ambassador of ‘She Changes Climate’: Climate entrepreneur Shreya Ghodawat has been appointed as India’s ambassador for She Changes Climate. The global non-profit organization launched a special initiative for International Women’s Day titled ‘Embrace Equity’ that aims to amplify the voices of women around the impacts of climate change. The campaign promotes the role of women in accelerating climate change. According to UN Women, more than 150 countries have laws that discriminate against women.

 

INTERNATIONAL UPDATES:

 

1. 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.

 

2. 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.

 

3. India signed MoC with Sweden to promote research networking: India and Sweden signed a Memorandum of Cooperation (MoC) to strengthen cooperation and promote research networking between research institutions from both countries. The MoC aims to promote mobility funding opportunities in both countries. It will facilitate academic cooperation through mobility activities as well as through seminars, workshops, and conferences This partnership will take forward joint Science and Technology efforts particularly in smart cities, Al, and many more.

 

4. International Conference on ‘Buddhist Heritage’ begins in New Delhi: An international conference on ‘Shared Buddhist Heritage’ started in New Delhi. It is being organized with a focus on India’s civilizational connection with the Shanghai Cooperation Organization (SCO) nations 2023. India is also going to host SCO Tourism Ministers’ Meeting (TMM) on 17th -18th March 2023 in Kashi. The conference on ‘Shared Buddhist Heritage’ is a first-of-its-kind event under India’s leadership of SCO. It brings together Central Asian, East Asian, South Asian and Arab countries on a common platform to discuss ‘Shared Buddhist Heritage’. The SCO countries comprise of member states, observer states and dialogue partners, including China, Russia, and Mongolia.

 

5. 14 March – International Day Of Action For Rivers: The International Day of Action for Rivers is observed every year on March 14 to raise awareness of how crucial rivers are to our daily lives.

The day also seeks to spread awareness about unequal access to clean water and the growing pollution of freshwater habitats like rivers as a result of blatant human activity. This year the 26th International Day of Action for Rivers is being celebrated. Theme 2023 – Rights of Rivers The first International Day of Action for Rivers was observed in March 1997.

 

OTHER UPDATES:

 

SPORTS

 

1. Mahindra Auto becomes title sponsor of IBA Women’s Boxing Championship: The Boxing Federation of India (BFI) has signed Mahindra & Mahindra Ltd. as its title sponsor for the International Boxing Association (IBA) Women’s World Boxing Championships 2023. MC Mary Kom and Bollywood actor Farhan Akhtar were also appointed brand ambassadors for the championship. The tournament will be held from 15 March 2023 in Indira Gandhi Sports Complex, New Delhi. India is hosting the event for the third time in its history.

 

2. Ashleigh Gardner & Harry Brook won ICC Player of the Month for February: The International Cricket Council (ICC) has announced the winners of the ICC Player of the Month awards for February 2023. Australia’s Ashleigh Gardner was named the ICC Women’s Player of the Month, and England’s Harry Brook was named the ICC Men’s Player of the Month. Ashleigh Gardner was awarded the award for her performance in the Women’s T20 World Cup 2023 held in South Africa.

 

BANKING AND FINANCE

 

1. 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%

 

2. 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.

 

3. 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.

 

4. Suryodaya Small Finance Bank launched Blossom Women’s Savings Account: Suryoday Small Finance Bank has launched a new savings account for women customers called the Blossom Women’s savings account. The account is designed to provide women with a safe and secure platform to save and grow their money with best of the interest rate and a wide range of exclusive benefits and privileges. Suryoday Small Finance Bank has announced the launch of ‘Blossom Women’s Savings Account’ with 7 percent per annum interest rate with monthly interest credit. Additionally, specially designed RuPay Platinum Debit Card offering discount on shopping and online purchases will also be available with the account. CEO of Suryoday SFB – R Baskar Babu

AWARDS AND HONOURS

 

1. 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.

 

2. Gyan Chaturvedi awarded Vyas Samman 2022 for ‘Pagalkhana: Noted Hindi writer Dr. Gyan Chaturvedi’s 2018 satirical novel, Pagalkhana, has been selected for the 32nd Vyas Samman 2022. Instituted by the KK Birla Foundation in 1991, the annual Vyas Samman is given to an outstanding Hindi literary work by an Indian citizen published during the last 10 years. It carries an award money of ₹4 lakh. After considering the works published during 2012-2021, a selection committee headed by eminent litterateur Prof Ramji Tiwari picked Dr. Chaturvedi’s Pagalkhana (mental asylum) for the prestigious Vyas Samman. Besides the Vyas Samman, the KK Birla Foundation has also instituted Saraswati Samman and Bihari Puraskar. While the Saraswati Samman, which carries an amount of ₹15 lakh, is given to an outstanding literary work of an Indian citizen in any of the languages included in Schedule VIII to the Constitution of India and published during a period of 10 years, the Bihari Puraskar with an amount of ₹2.5 lakh is meant for Hindi/Rajasthani writers of Rajasthan.

 

OBITUARIES

 

1. 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’.

Daily GK Update- 14th Mar, 2023

NATIONAL UPDATES:

 

1. Ministry of Jal Shakti to Identify 75 Water Heritage Sites: The Ministry of Jal Shakti had constituted a committee to identify 75 Water Heritage Structure (WHS) in reference to 75 years of India's Independence. A total of 421 nominations were received and out of which, Committee has recommended 75 water heritage structures. It includes 5 WHS from Gujarat and 4 WHS from Andhra Pradesh. At present, there is no central fund allocated/disbursed for the maintenance of these sites.

 

2. India to host SCO Tourism Ministers’ Meeting 2023 in Kashi: India will host the Shanghai Cooperation Organisation (SCO) Tourism Ministers’ Meeting (TMM) on 17th -18th March 2023 in Kashi (designated as the first cultural capital of the SCO). During TMM, the Tourism Joint Action Plan on the Development of Cooperation in Tourism among SCO member countries would be adopted. India will also host the SCO Food Festival in Mumbai from 13-19 April 2023.

India is the current chair of the Shanghai Cooperation Organisation (SCO).

 

3. India remains world’s largest arms importer: SIPRI Data: According to the Stockholm International Peace Research Institute (SIPRI) report, despite an 11% drop in arms import between 2013-17 and 2018-22, India remained the world’s largest arms importer from 2018 to 2022 followed by Saudi Arabia. Russia was India’s largest arms supplier in the periods between 2013-17 and 2018-22. But Russia's share of arms imports to India fell from 64 to 45%. While France emerged as the second-largest arms supplier to India followed by the US.

 

4. SIBC, Maharashtra Govt sign MoU in sustainable infrastructure and Defence: Sweden India Business Council (SIBC) has signed an MoU with the Maharashtra government for cooperation in waste to energy, sustainable infrastructure & transportation, defense manufacturing, and investment. The MoU was signed between SIBC and Maharashtra Industrial Development Corporation (MIDC) in the presence of Maharashtra Deputy Chief Minister Devendra Fadnavis.

Both have also agreed to work together to explore and facilitate funding opportunities.

 

5. Ashok Leyland unveils all-women production line at Tamil Nadu plant: Heavy commercial vehicle maker Ashok Leyland has unveiled a new production line that would produce engines at its manufacturing facility in Hosur completely operated by women employees. The initiative to introduce an all-women production line is to promote women empowerment and encourage them take up roles in the manufacturing industry. Ashok Leyland, the flagship company of Hinduja Group, has set up this new line with 80 women employees. This initiative is in line with our brand philosophy of ‘Koi Manzil Door Nahin’ as we aim to upskill and generate employment for these women.

 

6. Sumant Kathpalia reappointed as MD & CEO of IndusInd Bank: Reserve bank of India had approved the re-appointment of Sumant Kathpalia as Managing Director and Chief Executive Officer of the bank for a further period of 2 years with effect from March 24, 2023. Sumant Kathpalia is a career banker with years of experience in large multi-national banks such as Citibank, Bank of America and ABN AMRO, prior to joining IndusInd Bank. Kathpalia has led several roles in his 30-year career. Established in 1994 by Srichand P Hinduja, the name IndusInd Bank was inspired by the Indus Valley Civilisation.

 

7. Mohit Joshi appointed as MD and CEO of Tech Mahindra: Tech Mahindra announced that former Infosys President Mohit Joshi has been appointed as Managing Director and Chief Executive Officer (CEO) of the company for a period of 5 years, effective from 20 December 2023. Mohit Joshi will take over the charge from C P Gurnani after his retirement. Joshi has also worked for the largest corporations– Infosys, ANZ Grindlays, and ABN Amro Bank. He was the Vice Chair of the Economic Growth Board of the CBI (Confederation of British Industry). He was named a Young Global Leader by the World Economic Forum in 2014.

 

8. Centre signed Rs 934 crore deal with HSL to Refit INS Sindhukirti Submarine: The Ministry of Defense has signed a contract for General Refit of INS Sindhukirti Submarine at Hindustan Shipyard Limited (HSL), Visakhapatnam at a total cost of Rs 934 crore. Sindhukirti is 3rd Kilo Class Diesel Electric Submarine. After completion of refit, Sindhukirti will be combat-worthy and will join the active submarine fleet of the Indian Navy. This refit has been offloaded to develop alternate repair facility for submarines and is a further step towards undertaking Medium refit with Life Certification at HSL. The project involves more than 20 Micro Small and Medium Enterprises (MSMEs) and would lead to employment generation of 1,000 man-days per day for the project duration.

 

INTERNATIONAL UPDATES:

 

1. Multilateral Naval Exercise La Perouse 2023 Commences: The third edition multi-lateral maritime exercise La Pérouse 2023 started between the navies of India, Australia, French, Japan, and the United States in the Indian Ocean Region from 13-14 March 2023. It is a biennial exercise, conducted by the French Navy. Aim: To enhance maritime domain awareness and optimize maritime coordination amongst the participating navies in the Indo-Pacific Region India's INS Sahyadri and fleet tanker INS Jyoti have participated.

 

2. Asia's first woman loco pilot, Surekha Yadav will operate Vande Bharat: Asia's first female locomotive pilot, Surekha Yadav is now operating the Vande Bharat Express. She operated Vande Bharat Express from Solapur to Chhatrapati Shivaji Maharaj Terminal (CSMT) in Maharashtra. She hails from Stara, Maharashtra, and become the country's first female train driver in 1988. She had won many awards at the state and national levels so far for her achievements. Union Minister of Railway: Ashwini Vaishnaw

 

3. India and Sweden signed MoC to promote research networking: India and Sweden signed a Memorandum of Cooperation (MoC) to strengthen cooperation and promote research networking between research institutions from both countries. Aim: To promote mobility funding opportunities in both countries It facilitates academic cooperation through mobility activities as well as through seminars, workshops, and conferences. This partnership will take forward joint Science and Technology efforts particularly in smart cities, AI, and many more.

 

4. World Food India-2023 to take place 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, Government of India. 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 focuson technology and digitisation.

 

5. India & Australia sign audio-visual co-production agreement: India and Australia have signed an audio-visual co-production agreement that seeks to offer filmmakers financial incentives amounting to up to 30 percent 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 that would benefit mainly small filmmakers keen on shooting movies, web series, advertisements or carrying out post-production work or visual effects in that country. India has audio-visual co-production agreements with Italy, the United Kingdom and Northern Ireland, Germany, Brazil, France, New Zealand, Poland, Spain, Canada, China, South Korea, Bangladesh, Israel, Russia and Portugal.

 

6. Asia’s largest tulip garden in J&K to open to the public on 19 March: The Indira Gandhi Tulip Garden, which is Asia’s largest tulip garden in Kashmir, will open to the public on March 19, 2023. The garden spread between Dal Lake and Zabarwan Hills. This garden is spread over 1050 kanals (52.5 hectares. It started with 50,000 tulips, then 3.50 lakh tulips and now we have 15 Lakh. Besides 1.5 million Tulips of various colours and hues, the garden, also known as Siraj Bagh, will have other spring flowers like hyacinths, daffodils, muscari and cyclamens on display.

Formerly known as Siraj Bagh, the Indira Gandhi Memorial Tulip Garden was opened in 2008 by then chief minister of erstwhile Jammu and Kashmir state Ghulam Nabi Azad.

 

7. India & France conducts Maritime Partnership Exercise (MPX): Indian Navy’s indigenously built Guided Missile Frigate, INS Sahyadri participated in the Maritime Partnership Exercise (MPX) with French Navy (FN) ships in the Arabian Sea. French Navy (FN) ships FS Dixmude, a Mistral-class amphibious assault ship, and FS La Fayette, a La Fayette class frigate participated in the exercise. The exercise witnessed a wide spectrum of evolutions at sea which included cross deck landings, boarding exercises and seamanship evolutions. The seamless conduct of the exercise reaffirmed the interoperability and high level of cooperation between the two navies.

 

8. Exercise ‘La Perouse’ between navies of India, US, Japan, France, UK and Australia begins: The third edition of the multilateral exercise ‘La Perouse’ was held in the Indian Ocean Region.

Personnel, ships and integral helicopters of the Royal Australian Navy, French Navy, Indian Navy, Japanese Maritime Self-Defence Force, Royal Navy, and the United States Navy participated in Exercise La Perouse. The biennial exercise La Perouse is conducted by the French Navy and aims to enhance maritime domain awareness and optimise maritime coordination amongst the participating navies in the Indo-Pacific region. Indian Navy’s indigenously built guided missile frigate INS Sahyadri and fleet tanker INS Jyoti participated in the third edition of the multilateral exercise.

 

OTHER UPDATES:

 

SPORTS

 

1. Virat Kohli becomes 2nd-highest run scorer against Australia: Star Indian batter Virat Kohli has surpassed legendary West Indies Brian Lara to become the second-highest run-scorer against Australia in international cricket. Lara, on the other hand, scored 4,714 runs in 82 matches (Tests and ODIs) against Australia. He notched up 12 tons with the best score of 277. The leading run-scorer against Australia is legendary Sachin Tendulkar. In 110 matches and 144 innings, Tendulkar scored 6,707 runs at an average of 49.68. With 20 tons and 31 fifties, Sachin had the best individual score of 241* against Australia.

 

2. Prithviraj Tondaiman won bronze in trap shooting in Doha: India’s Prithviraj Tondiman has won the bronze medal at the ISSF Shotgun World Cup 2023 in Doha, Qatar. Two-time world champion Oguzhan Tuzun (Turkey) won gold with a score of 33/35, while Great Britain’s Matthew John took silver with a score of 30/35. This was India’s first medal at the ISSF World Cup, which is currently taking place.

 

BANKING AND FINANCE

 

1. IREDA received ‘Infrastructure Finance Company’ status from RBI: The Reserve Bank of India (RBI) granted an ‘Infrastructure Finance Company (IFC)’ status to Indian Renewable Energy Development Agency (IREDA). Earlier, it was classified as an Investment and Credit Company (ICC). With the IFC status, IREDA will be able to take higher exposure in RE financing. It will also help the company to access a wider investor base for fund mobilization, resulting in competitive rates for fundraising. Chairman of IREDA: Pradip Kumar Das

 

2. 38.58 crore loans extended since inception of MUDRA Yojana: According to the Mudra portal (as of 27.01.2023), more than 38.58 crore loans have been extended since the inception of the Scheme in April 2015. Out of this, over 26.35 crore loans have been extended to Women Entrepreneurs (68%). SC/ST/OBC category borrowers received 19.84 crore loans (51%). As per the Ministry of Labour survey, PMMY helped in generating 1.12 crore net additional employment in the country from 2015 to 2018.

 

3. Suryoday Small Finance Bank launches special women’s savings account: Suryoday Small Finance Bank has launched a new savings account for women customers called the Blossom Women’s savings account. Features: Women can earn up to 7% interest rate per annum An exclusive and free Rupay Platinum Debit Card that rewards women customers with discounts and cashback. Monthly Interest Pay-out in the account One complementary account for child (Savings Aditya Account) Average Monthly Balance (AMB) of ₹10,000 CEO of Suryoday SFB: R Baskar Babu

 

4. India's retail inflation drops to 6.44% in February 2023: According to the data released by the National Statistical Office (NSO), India's retail inflation has lowered to 6.44% in February 2023 from 6.52% in January 2023. But it remained above the upper band of the 4+/- 2 percent medium-term target of the Reserve Bank of India (RBI) for the second consecutive month. While food inflation eased marginally to 5.95 percent in February 2023 from 6% in January 2023, inflation for cereals, milk, and fruits picked up.

 

5. After Silicon Valley Bank, Signature Bank collapse: New York-based Signature Bank was shut by regulators in the US, becoming the second bank in the country after Silicon Valley Bank. The Federal Deposit Insurance Corporation (FDIC) has been appointed as a receiver, which typically means it will liquidate the bank’s assets to pay back its customers, including depositors and others. The standard insurance amount from FDIC is $250,000 per depositor, per bank, for each account ownership category.

 

OBITUARIES

 

1. Japanese Nobel-winning novelist Kenzaburo Oe passes away: Japanese novelist, Kenzaburo Oe passed away at the age of 88 on March 3, 2023, due to age-related issues. He was known for his pacifist and anti-nuclear views. He was honoured with the Nobel Prize in Literature in 1994 for creating "an imagined world, where life and myth condense to form a disconcerting picture of the human predicament today". His notable works are 'A Personal Matter' and 'The Silent Cry'.

Daily GK Update- 13th Mar, 2023

NATIONAL UPDATES:

 

1. 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.

 

2. 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.

 

3. 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.

 

4. 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.

 

5. Nitin Gadkari unveiled first methanol run buses in Bengaluru: Union Minister for Road and Transport Nitin Gadkari unveiled Bengaluru’s first methanol-run buses. The project is aimed at reducing the level of emissions and the Bengaluru Metropolitan Transport Corporation (BMTC) NITI Aayog, Indian Oil Corporation (IOC) and Ashok Leyland are conducting the project together.

The concept of the ‘Methanol Economy’ is being actively pursued by China, Italy, Sweden, Israel, the US, Australia, Japan, and many other European countries. In the pilot project, the BMTC is planning to launch 80 buses that will run on methanol fuel and 20 Ashok Leyland buses will also be introduced in the initial phases. As part of the project, the Indian Oil Corporation will provide free diesel and methanol for three months. Methanol can be blended with gasoline or used as a standalone fuel in vehicles with modified engines. It has a high octane rating, which means it can improve engine performance and reduce harmful emissions.

 

6. First Supreme Audit Institution (SAI20) meeting begins in Guwahati: The first Supreme Audit Institution 20 (SAI20) Senior Officers Meeting (SOM) has begun in Guwahati with the themes -‘Blue Economy’ and ‘Responsible Artificial Intelligence’. The SAI20 is aimed at bringing together an ecosystem wherein SAIs are active partners in governance, promoting transparency and accountability. The delegates from G20 member countries, guest countries, and other International Organisations would attend the SAI20 event. SAIs of Australia, Brazil, Egypt, Indonesia, Oman, the Republic of Korea, Russia, Saudi Arabia, Türkiye, and UAE will be participating in person.

 

INTERNATIONAL UPDATES:

 

1. 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.

 

2. 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.

 

3. 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.

 

4. IRCTC to start ‘Bharat Nepal Ashtha Yatra Tour’: Indian Railway Catering and Tourism Corporation (IRCTC) announced to run on 31 March 2023, “Bharat Nepal Ashtha Yatra” tour package. It will run under the Bharat Gaurav Tourists train which will showcase four important pilgrimage and heritage destination in the 10 days tour. The Bharat Gaurav Tourist Train launch is in line with the Government of India initiative “Dekho Apna Desh” to promote special interest circuits in domestic tourism. The train will depart from Jalandar but have boarding from Delhi Safdarjung. The departure date of the Bharat Nepal Ashtha Yatra is from 31 March 2023. The destinations that will be covered in this 10 days tour are: Ram Janmbhoomi temple, Hanuman Garhi, SaryuGhat, Nandigram in Ayodhya; Pashupatinath Temple, Darbar Squire, Swaymbhunath Stupa in Kathmandu; Tulsi Manas temple, SankatMochan temple, Kashi Vishwanath Corridor and temple, Ganga Aarti at VaranasGhat in Varanasi; and Ganga – Yamuna Sangam, Hanuman temple in Prayagraj.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. 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.

 

2. 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

 

3. PNB signed MoU with Central Warehousing Corporation to facilitate farmers’ financing: Punjab National Bank has signed an MoU with Central Warehousing Corporation (CWC) to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt). The partnership is aimed at providing easy access to finance to farmers/ food processors/ traders against the pledge of agriculture commodities stored in CWC warehouses.

 

AWARDS AND HONOURS

 

1. 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)

 

2. British Architect David Chipperfield won Pritzker Prize 2023: British architect Sir David Chipperfield has won the Pritzker Architecture Prize 2023, arguably the highest international honour in the discipline. David Chipperfield is the 52nd winner of the award, established in 1979. Francis Kéré (Germany) was awarded the prize in 2022, and Anne Lacton (France) and Jean-Philippe Vasal (France) in 2021. The 45th Pritzker Prize ceremony honoring David Chipperfield will be held in Athens, Greece in May 2023.

Daily GK Update- 12th Mar, 2023

NATIONAL UPDATES:

 

1. RBI approves reappointment of Sumant Kathpalia as MD, CEO of IndusInd Bank: RBI has approved the appointment of Sumant Kathpalia as MD and CEO of IndusInd Bank for two years from 24 March 2023. RBI's confirmation comes nearly six months after the bank's board of directors had cleared another term for Kathpalia. He has been an MD & CEO of the bank since March 2020. Before this role, he served as Head of the Consumer Bank at IndusInd Bank. He has been instrumental in setting up several new businesses to cater to the needs of SME segments.

 

2. Uttarakhand becomes 1st state to start insurance scheme for sericulturists: Uttarakhand has become India's first state to launch the Resham Keet Bima scheme for sericulturists. In the first phase of this pilot project, 200 sericulturists from five blocks of four districts -- Dehradun, Haridwar, Udham Singh Nagar, and Nainital -- have been insured from the ill effects of climate change, scarcity of water, and other hazards. This scheme will be run under Saral Krishi Beema.

Uttarakhand CM: Pushkar Singh Dhami; Governor: Gurmit Singh

 

3. Uttarakhand’s Rudraprayag, Tehri top landslide index: ISRO report: According to the Landslide Atlas report, prepared by the National Remote Sensing Centre (NRSC) of ISRO, the Rudraprayag district of Uttarakhand has the maximum exposure to landslide risk in the country. Tehri district (Uttarakhand) ranked second on the list of landslide-prone districts. As per the State Emergency Operation Centre data, Uttarakhand reported 253 landslides between 2018 and 2021. Kerala's Thrissur and Palakkad districts ranked 3rd and 5th respectively.

 

4. NITI Aayog releases Task Force report to make Gaushalas economically viable: The Task Force report titled “Production and Promotion of Organic and Bio-fertilizers with Special Focus on Improving Economic Viability of Gaushalas” was released by NITI Aayog. It suggested measures to make Gaushalas economically viable, address the problem of stray and abandoned cattle, and utilization of cow dung and cow urine in the agriculture and energy sector. It provides factual estimate of operating and fixed costs and other Gaushalas issues.

 

5. Odisha announces Rs 500 crore worth livelihood scheme for tribals: Odisha's state cabinet led by CM Naveen Patnaik has announced a new livelihood and income-generating scheme for the tribal people with an outlay of Rs 500 crore for three years (2023-24 to 2025-26). The livelihood cluster development initiative will be implemented by the ST & SC Development, Minorities & Backward Classes Welfare dept under Mukhya Mantri Janajati Jeebika Mission. The state-funded scheme will be implemented in 119 tribal sub-plan (TSP) blocks.

 

6. Government to provide financial support to eligible agencies to promote GI: The Department for Promotion of Industry and Internal Trade (DPIIT) has issued operational guidelines, that the government will provide financial assistance to eligible agencies for undertaking initiatives for the promotion of Geographical Indications (GIs) products. It can be extended to eligible agencies as 100% grants in aid for the promotion of GIs. DPIIT is an arm of the commerce and industry ministry. It deals with investments and intellectual property rights.

 

7. West Bengal urged Centre to allow poppy cultivation: West Bengal Chief Minister Mamata Banerjee has urged the Centre to allow poppy (Posto) cultivation in the state, insisting that delicacies prepared with its seeds are integral to the Bengali cuisine. Delicacies prepared with poppy seeds are integral to Bengali cuisine and poppy seeds are costly as it is cultivated only in a few States. At present, opium poppy cultivation is permitted in Selected Tracts in three States namely Madhya Pradesh, Uttar Pradesh, and Rajasthan.

 

8. New health programme ‘Arogya Mahila’ launched for women in Telangana: Telangana Health Minister T Harish Rao has launched a new health programme for women, named ‘Arogya Mahila’, on the occasion of International Women’s Day. Under the programme, tests would be conducted for women every Tuesday initially in 100 health centres and medicines provided to them free of cost. The women, if necessary, would be sent to ‘referral hospitals’ for further medical care. Harish Rao also to be launched the scheme ‘Nutrition kit’ would be started for the benefit of pregnant women after the Sri Rama Navami festival to be celebrated later this month. The ‘Nutrition kit’ would comprise several items, including ghee and protein mix powder.

 

INTERNATIONAL UPDATES:

 

1. World off-track to cut 30 per cent sodium intake by 2025: WHO: According to the WHO Global Report on Sodium Intake Reduction, two million deaths can be prevented by 2025 and seven million by 2030 if policies recommended by WHO to reduce sodium intake are implemented. The world is off-track to achieve its global target of reducing sodium intake by 30% by 2025. The global average salt intake is estimated to be 10.8 grams per day (more than double the WHO recommendation of fewer than 5 grams of salt per day (one teaspoon)).

 

2. Rajkumar Singh participated in 19th BIMSTEC Ministerial Meeting: Minister of State for External Affairs Rajkumar Ranjan Singh has participated in the 19th BIMSTEC Ministerial Meeting virtually from Bangkok. The meeting was hosted by Chair Thailand. During the meeting, the Ministers approved several documents including rules of Procedure for Core BIMSTEC Mechanisms, Sectoral BIMSTEC Mechanisms and BIMSTEC’s External Relations for submission to the 6th BIMSTEC Summit. The meeting also approved the draft Host Country Agreement between India and the BIMSTEC Secretariat for establishing BIMSTEC Centre for Weather and Climate in India.

 

 

 

OTHER UPDATES:

 

SPORTS

 

1. Australia’s Shaun Marsh announced retirement from first-class cricket: Former Australia opener Shaun Marsh has announced his retirement from first-class cricket after 22 years with Western Australia and 38 Tests for Australia. Marsh appeared in 38 Test matches for Australia, beginning with an away match against Sri Lanka in Pallekele in September 2011. In his Test career, he has amassed 2,265 runs, including six centuries and ten half-centuries. Marsh made his first-class debut in 2001 at the age of 17. Marsh, who turns 40 in June, represented Australia in all three formats, scoring over 12,000 runs in first-class cricket, including 32 centuries. He also holds the record for most runs for Western Australia in all formats: 12,811 runs in 236 matches.

 

BANKING AND FINANCE

 

1. Punjab National Bank signs MoU with Central Warehousing Corporation: Punjab National Bank has signed a Memorandum of Understanding (MoU) with the Central Warehousing Corporation to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt). Aim: To provide easy access to finance to farmers/ food processors/ traders against the pledge of agriculture commodities stored in CWC warehouses CWC is a statutory body under the Ministry of Consumer Affairs, Food and Public Distribution. Minister of Consumer Affairs: Piyush Goyal

 

AWARDS AND HONOURS

 

1. India won Golden & Silver Star at ‘Golden City Gate Tourism Awards: India’s Ministry of Tourism has won the Golden and Silver Stars at The International ‘Golden City Gate Tourism Awards 2023’ in ‘TV/Cinema Commercials International and Country International’ Category at ITB, Berlin. The awards were received by Arvind Singh, Secretary (Tourism) at ITB (Internationale Tourismus-Börse) Berlin, the world’s largest annual tourism trade fair. The Golden City Gate tourism multi-media awards are given annually in various categories related to the tourism and hospitality sectors. The ‘Golden City Gate’ is a creative multi-media international competition for countries, cities, regions and hotels. The entries received for the awards are judged by an international jury comprising film and tourism experts.

 

OBITUARIES

 

1. Olympic Diving Champion, Pat McCormick passes away: American Olympic athlete Pat McCormick died at 92 in California due to health-related problems and dementia. She won the women’s 3-meter springboard and 10-meter platform competitions at the 1952 Olympics in Finland. She was honored by the Amateur Athletic Union (AAU) with the James E. Sullivan Award - amateur athlete of the year in 1956. She was the 2nd woman to win the award after Swimmer Ann Curtis(1944). She was inducted into the International Swimming Hall of Fame