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CURRENT AFFAIRS: BANKING & FINANCE
Reserve Bank of India launches its 2nd Global Hackathon – HARBINGER 2023
- The Reserve Bank of India (RBI) is organizing its 2nd global hackathon – “HARBINGER 2023 – Innovation for Transformation” with the theme ‘Inclusive Digital Services’.
- Registration for the hackathon starts on February 22, 2023.
- The hackathon is hosted on Application Programming Interface Exchange (APIX) platform.
HARBINGER 2023 invites innovative ideas for the following problem statements:
- Innovative, easy-to-use, digital banking services for the differently abled (Divyaang).
- RegTech solutions to facilitate more efficient compliance by Regulated Entities (REs).
- Exploring use cases/solutions for CBDC retail transactions, including transactions in offline mode.
- Increasing Transactions Per Second (TPS)/ throughput and scalability of blockchains.
Key Highlights :
- Being part of HARBINGER 2023 allows the participants to get mentored by industry experts and exhibit their innovative solutions before an eminent jury and win exciting prizes in each category.
- The winner will get Rs 40 lakh & the runner-up will get a prize of Rs 20 lakh each.
- RBI has invited fintech to develop solutions that have the potential to make digital financial services accessible to the differently-abled and facilitate efficient compliance.
- RBI announced its first hackathon in November 2021 & its results were declared in June 2022.
- It had received 363 proposals from teams within India and 22 other countries including the US, UK, Sweden, Singapore, Philippines, and Israel.
About RBI :
- Established: 1 April 1935
- Headquarters: Mumbai, Maharashtra, India
- Governor : Shaktikanta Das
- Deputy governors: Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra, and T. Rabi Shankar
Paytm Payments Bank becomes first to launch UPI LITE feature
- Paytm Payments Banks Limited (PPBL) has launched the Unified Payments Interface (UPI LITE), enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions.
- The PPBL is the first payments bank to launch such a UPI LITE feature.
- The UPI LITE feature enables faster real-time transactions with a single click through Paytm as the bank aims to drive the adoption of digital payments across the country.
What is UPI LITE?
- The National Payments Corporation of India (NPCI) designed the feature which was launched by the Reserve Bank of India (RBI) in September 2022.
- UPI LITE is a new payment solution that leverages the trusted NPCI Common Library (CL) application to process low-value transactions that have been set at below ₹ 200.
- A maximum of Rs 2,000 can be added twice a day to UPI LITE, making the cumulative daily usage up to Rs 4,000.
- Additionally, with UPI LITE, users can carry out a large number of small-value UPI payments in a superfast manner without worrying about the cap on the number of bank transactions.
- The bank remained the largest UPI beneficiary bank for 19 months in a row with over 1,726.94 million transactions in December 2022.
- With 386.50 million registered transactions, the bank is one of the top 10 remitter banks for UPI transactions.
About Paytm Payments Bank :
- Founded: 2015
- Headquarters: Noida, Uttar Pradesh, India
- MD and CEO: Surinder Chawla
RBI grants in-principle authorization for 32 existing online payment aggregators
- The Reserve Bank of India (RBI) has granted in-principle approval to 32 entities to operate as an online payment aggregator (PA) & 19 new PAs to operate as online PAs.
- The RBI stated that the grant of ‘in-principle’ authorization shall not be construed as authorization unless the entity is granted ‘authorization’ under Section 7 of the Payment and Settlement Systems Act, 2007.
Key Highlights :
- Amazon (Pay) India Pvt Ltd, Computer Age Management Services Ltd (CAMS), Google India Digital Services Pvt Ltd, Reliance Payment Solutions Ltd, and Zomato Payments Pvt Ltd are among the notable entities that have been granted in-principle approval to continue their operations.
- The list includes Pine Labs, Razorpay, Reliance, Google and Zomato
- 19 new entities including JusPay, Zoho Payment Technologies, Mswipe, and Tata Payments Limited.
- While the applications of Freecharge, Paytm, PayU, and Tapits Technologies have been rejected.
Click here for the complete list of 32 entities :
- In terms of the guidelines, online non-bank PAs existing as on March 17, 2020, were required to apply to RBI by September 30, 2021, for seeking authorization under the Payment and Settlement Systems Act, 2007 (PSS Act).
- Another extension was allowed for all such PAs to submit their application by September 30, 2022.
About payment aggregator :
- The payment aggregator framework was introduced in 2020 to further regulate the payments space.
- Under this framework, only those firms that have been authorized to operate as payment aggregators by the RBI can acquire and offer payment services to merchants
- Also, these firms will be directly supervised by the RBI.
- In 2022, the RBI rejected the PA license of ZaakPay, which runs the fintech company MobiKwik, allegedly due to its crypto partnerships and failure to meet the minimum net-worth criteria.
- CAMSPay CEO Vasanth Jeyapaul
SEBI Introduces ISD For Filing IPO Papers In XBRL Format
- The Securities and Exchange Board of India (SEBI) introduced the issue summary document (ISD) for filing papers about Initial Public Offer (IPO) and for further issue of securities in XBRL (Extensible Business Reporting Language) format, a move that will help provide data to stakeholders in a structured manner.
- The rollout of the ISD will be done in a phased manner starting March 1, 2023.
What is XBRL?
- XBRL is a language for the electronic communication of business and financial data used for business reporting around the world.
- It provides major benefits in the preparation, analysis, and communication of business information.
Key Highlights :
- As per the circular, the ISD should be filed in 2 stages.
- In the 1st stage, the ISD will be filed with pre-issue fields
- In the 2nd stage, the ISD will be filled with post-issue fields after allotment is completed.
- In the 1st phase, the ISD will be rolled out for public issues of specified securities, for offer documents filed on or after March 1, 2023.
- In the 2nd phase, the ISD for further issues will be implemented from April 3, 2023.
- In the 3rd phase, ISD for open offer, buy-back, and voluntary delisting will be implemented from May 2, 2023.
- SEBI has decided to introduce the ISD in XBRL format for Initial Public Offer (IPO), Further Public Offer, further issues -preferential issues, qualified Institutions Placement (QIP), rights issues, issue of American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and Foreign Currency Convertible Bonds (FCCBs), among others.
About SEBI :
- Established: 1992
- Headquarters: Mumbai, Maharashtra
- Chairman: Madhabi Puri Buch
- SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance, GoI.
European Investment Bank Joins India Hydrogen Alliance
- The European Investment Bank (EIB), the bank of the European Union, formally agreed to join the India Hydrogen Alliance (IH2A) and expand support for large-scale green hydrogen hubs and projects across India with indicative funding of €1 billion
- However, the funding will be subject to approval from the Indian government and EIB clearances.
Key Highlights :
- The new memorandum of agreement (MoU) with IH2A will enable the EIB to further promote clean energy investment and boost the growth of green hydrogen in India as a longstanding partner for renewable energy in India and the largest climate financier in the world.
- The India Hydrogen Alliance is an industry coalition of global and Indian companies committed to the creation of a hydrogen value-chain and economy in India.
About EIB :
- Founded: 1958
- Location : Kirchberg, Luxembourg
- President : Dr Werner Hoyer
- The Bank is owned by the EU Member States.
- It is the biggest international public bank in the world and the leading financier of climate action and renewable energy.
ADB approves USD 130 million loans for promoting horticulture in HP
- The Asian Development Bank (ADB) has approved a USD 130 million (over Rs 1,072 crore) loan to increase agricultural productivity and promote horticulture agribusinesses to raise farmers’ income in Himachal Pradesh (HP) under the HP Subtropical Horticulture, Irrigation, and Value Addition Project.
About the Project :
- The Project will help increase the income and resilience to the effects of climate change of at least 15,000 farm households in Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan, and Una.
- It will improve on-farm irrigation and water management in about 6,000 hectares (ha) of farmland
- More than half of Himachal Pradesh’s land area is in the mountains and 90% of the population lives in rural areas that are dependent on agriculture.
- Farmers will be organized into cluster-wide Community Horticulture Production and Marketing Associations (CHPMAs) and district-wide CHPMA cooperative societies.
- A farmer-producer company (FPC) will be created at the state-level to lead agribusiness development to ensure profitability and access to markets of subtropical horticulture.
About ADB :
- Established : 1966
- Headquarters : Mandaluyong, Philippines
- President : Masatsugu Asakawa
- Membership: 68 members – of which 49 are from the Asia and Pacific region and 19 from outside
About HP :
- Governor : Shiv Pratap Shukla
- Chief Minister : Sukhvinder Singh Sukhu
- Airports: Kangra Airport, Kullu Manali Airport, Shimla Airport
EbixCash becomes the first entity to enable UPI for foreign nationals
- EbixCash Limited, a subsidiary of US-based Ebix Inc, has become the first company in India to launch and enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India.
- In February 2023, the RBI proposed permitting inbound travelers access to UPI for merchant payments (P2M) while they are in the country.
- The facility will initially be extended to travelers from G-20 countries arriving at select international airports.
Facility for NRIs :
- EbixCash has become the first entity to enable UPI services for foreign delegates attending the G-20 summit.
- EbixCash will carry out a pilot launch shortly in Bangalore at the G-20 summit, involving dignitaries from across the world.
- It is a leading player in India’s airport and seaport Money Exchange business with retail kiosks in 20 international airports, and 12 seaports.
- The central bank had also recently allowed non-resident Indians, who have international mobile numbers linked to their Non-Resident External (NRE)/Non-Resident Ordinary (NRO) accounts, to use the UPI network when in India.
About EbixCash World Money Limited :
- Established: 1998
- Headquarters: Mumbai, Maharashtra, India
- Whole Time Director & MD: Guruprasad T. Chandrashekaran
- EbixCash World Money is the largest RBI-authorised ADII category forex company in India.
CURRENT AFFAIRS: NATIONAL NEWS
Shinku La Tunnel construction approved by Union Cabinet
- Shinku La Tunnel construction was approved by Union Cabinet to provide all-weather connectivity in Ladakh.
- Anurag Singh Thakur stated that this 1-kilometer-long tunnel would be completed by December 2025.
- The estimated cost of this project will be around 1,681 crore rupees.
- The tunnel will lead to the all-around development of the region and encourage tourism, health, and education sectors.
- This project is also important from the point of view of strategic and national security.
The Union Cabinet has approved to strengthen of the country’s cooperative movement
- The Union Cabinet has approved strengthening the country’s cooperative movement and taking it to the grassroots level.
- Union Cabinet recently approved the establishment of a new Primary Agricultural Credit Society in 2 lakh panchayats in the next five years.
- An action plan will be prepared by NABARD, National Dairy Development Board (NDDB), and National Fisheries Development Board (NFDB) for the implementation of this project.
- The scheme will provide necessary forward and backward linkages to farmers’ members across the country to market their produce, increase their income, and avail credit facilities and other services at the village level itself.
- These PACS, Dairy, and Fishery Cooperatives would be set up during the next five years.
- Necessary infrastructure will be set up to diversify the business activities of PACS/Dairy/Fisheries Cooperatives and enable them to modernize.
- This would strengthen the cooperative sector and create employment opportunities in rural areas.
- The scheme will also enable farmers to get better prices for their produce, expand the size of their markets and integrate them smoothly into the supply chain.
- PACS/Dairy/Fisheries Cooperative Societies will be linked to their respective district and state-level federations.
About PACS
- PACS are village-level cooperative credit societies that serve as the last link in a three-tier cooperative credit structure headed by the State Cooperative Banks (SCB) at the state level.
- Credit from the SCBs is transferred to the district central cooperative banks (DCCBs) that operate at the district level.
- The DCCBs work with PACS, which deals directly with farmers.
- Individual farmers are members of the PACS, and office-bearers are elected from within them
- There are 02 lahks PACS in India (As per the RBI report of December 2022).
About NDDB:
- The National Dairy Development Board is a statutory body set up by an Act of the Parliament of India.
- It is under the ownership of the Ministry of Fisheries, Animal Husbandry, and Dairying of the Government of India.
- The main office is in Anand, Gujarat with regional offices throughout the country.
- Founded: 1965
- Founder: Verghese Kurien
- Chairman: Meenesh Shah
Cabinet has approved a Centrally Sponsored Scheme- Vibrant Villages Programme:
- The Union Cabinet has approved a Centrally Sponsored Scheme- Vibrant Villages Programme with a financial allocation of 4,800 crore rupees for the fiscal years 2022-23 to 2025-26.
- Of this Rs, 2500 crores will be used for building roads.
- Cabinet approved the scheme recently.
- This will lead to infrastructure development and livelihood opportunities in the four states and one union territory along the northern land border.
- These include Himachal Pradesh, Uttarakhand, Sikkim, Arunachal Pradesh, and the Union Territory of Ladakh.
- This will improve the quality of life of the people as well as lead to inclusive development of the villages on the northern border.
- The program will assist in identifying and developing economic drivers based on local human and natural resources of border villages on the northern border.
- More than 663 villages will be developed under the program.
- It is to be implemented for two years, that is, between 2022-23 and 2025-26.
- The development of growth centers will be based on the “Hub and Spoke Model” through the promotion of social entrepreneurship, empowerment of youth and women through skill development and entrepreneurship, and promotion of local cultural, and traditional knowledge.
- It also includes the development of sustainable eco-agribusinesses on the concept of “One village-One product” through community-based organizations, SHGs, NGOs, etc.
CURRENT AFFAIRS: BUSINESS NEWS
India’s overall exports from April to January are estimated to exhibit positive growth of 17.33%
- India’s overall exports from April to January in the current financial year are estimated to show a positive growth of 17.33% over the same period last year.
- According to the Commerce and Industry Ministry, the merchandise exports for April-January 2022-23 were over 369 Billion dollars.
- Merchandise exports during the April-January period of the last financial year stood at 340 Billion dollars.
- Commerce and Industry Ministry said that India’s overall exports in January this year are estimated to be over 65 billion dollars.
- All agricultural commodities exports except coffee have shown positive growth.
- Electronic goods exports have increased by over 50% during January this year.
- It is estimated that overall imports from April to January 2022-23 will show a growth of more than 22% over the same period last year.
- Commerce and Industry Ministry said the global growth is projected to decline from an estimated 3.4% in 2022 to 2.9% in 2023.
- The Ministry said that India continues to grow with a growth rate of 6.8% in 2022 and 6.1% in 2023.
CURRENT AFFAIRS: INTERNATIONAL NEWS
Ministry of Culture to Host 1st G20 Culture Group Meet in Khajuraho, Madhya Pradesh
- The Ministry of Culture is organizing the First G20 Culture Group (CWG) meeting in Khajuraho, Madhya Pradesh (MP) from 22nd to 25th February 2023.
- The theme of the Khajuraho meet is “Protection and Restitution of Cultural Property”.
4 priority areas of India’s CWG include
- Protection and Restitution of Cultural Property
- Harnessing Living Heritage for a Sustainable Future
- Promotion of Cultural and Creative Industries,
- Creative Economy; Leveraging Digital Technologies for Protection and Promotion of Culture.
About Khajuraho :
- Khajuraho is an ancient city known for its majestic temples and elaborate sculptures
- The Khajuraho Group of Monuments is a United Nations Educational, Scientific and Cultural Organization (UNESCO) World Heritage Site which was constructed by the Chandela Dynasty between 950-1050 AD.
- These monuments are built in Nagara-style architecture and ornamented with intricate and detailed sculptures.
- The monuments include Hindu and Jain
- According to historical records, there were 85 temples in the temple site in Khajuraho, covering 20 square kilometers, in the 12th Century AD.
Key Highlights :
- The 2nd and 3rd meetings under this track will be held at Bhubaneswar in Odisha and Hampi in Karnataka.
- The overarching theme of G20 is ‘Vasudev Kutumbakam’ – One Earth, One Family, One Future.’
- India’s G20 culture track is based on the idea of ‘Culture for LiFE’ as a campaign for eco-conscious lifestyle and sustainable living.
- An exhibition titled ‘Re(ed) Dress: Return of Treasures‘ will also be organized on this theme at the Maharaja Chhatrasal Convention Center in Khajuraho.
About the Ministry of Culture :
- Cabinet Minister: G. Kishan Reddy
- Minister of State: Meenakshi Lekhi
CURRENT AFFAIRS: DEFENCE NEWS
Boeing launches its first global support center in India
- United States (US) aerospace major Boeing launched its first global support center (GSC) in India at Gurugram, Haryana.
- It also plans to invest in a new logistics center to cater to its regional customers.
- The GSC will provide customized operational efficiency and safety improvement projects for its airline customers, civil aviation regulatory bodies, and other industry stakeholders
About GSC India :
- The GSC will conduct technical workshops and projects to support aircraft reliability, enhance airplane performance, and encourage the adoption of Airplane Health Management (AHM) systems.
- For operational improvements, the center will work with operators and regulators on structures and airworthiness; the Maintenance Error Decision Aid (MEDA), a human-factors tool; Air Traffic Management (ATM); aerospace optimization; and low visibility operation through Head-Up Display (HUD) and Enhanced Flight Vision System (EFVS).
- More than 150 Boeing airplanes, including the next-generation 737, 737 MAX, 757, 777, and 787 Dreamliner, are operated by leading Indian commercial airlines
- Through its India Repair Development and Sustainment (BIRDS) hub program, Boeing is already supporting local customers by creating an ecosystem of comprehensive support packages and indigenous Maintenance, Repair, and Overhaul (MRO) capabilities with its partners.
- Currently, India operates a fleet of Boeing aircraft, including 11 C-17s, 22 AH-64 Apaches (with an additional 6 on order), 15 CH-47 Chinooks, 12 P-8Is, 3 VVIP aircraft, and 2 head-of-state aircraft.
About the new logistics center:
- In the initial phase of the operations, the India logistics center would focus on supporting airline customers.
- In the 2nd phase, it would cater to the larger network of Boeing’s customers in the region
About Boeing India :
- Headquarters: Bengaluru, Karnataka, India
- President: Salil Gupte
- CEO: David L.Calhoun.
- The Boeing Company is an American multinational corporation that designs, manufactures, and sells aeroplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide.
CURRENT AFFAIRS: SCIENCE & TECHNOLOGY
SpaceX ignites giant Starship rocket into orbit in crucial pad test
- SpaceX is a big step closer to sending its giant Starship spacecraft into orbit, completing an engine-firing test at the launch pad.
- 31 of the 33 first-stage booster engines ignited simultaneously for about 10 seconds in south Texas.
About Starship :
- Starship is a super-heavy-lift rocket and spacecraft built to carry immense cargo and numerous astronauts into deep space.
- It is the collective name for a two-component system consisting of the Starship spacecraft (which carries the crew and cargo) and the Super Heavy rocket.
- The Starship launch system is powered by the Raptor engine, a reusable methalox staged-combustion engine.
- It is built by SpaceX, which is an American spacecraft manufacturer.
- It will be the world’s most powerful launch vehicle ever developed, with the ability to carry up to 150 metric tonnes to Earth orbit reusable and up to 250 metric tonnes expendable.
- The rocket is made of stainless steel and runs on liquid methane.
- It is 164 feet (50 meters) tall and has a diameter of 9 meters.
- Starship is intended to evolve into a fully reusable launch and landing system.
CURRENT AFFAIRS: AWARDS AND HONOURS
Writer Subhash Chandran bagged the Akbar Kakkattil award
- A renowned writer Subhash Chandran bagged the Akbar Kakkattil award for his novel ‘Samudrasila‘.
- Samudrashila was published by Mathrubhumi
- The award will be presented by writer M. Mukundan at an event on February 17.
- Samudrasila has been picked by a jury comprising writer Sethu, Dr. Mini Prasad, and KC Narayanan.
- Subhash Chandran is a two-time recipient of the Kerala Sahitya Akademi Award.
- Akbar Kakkattil Award was started by a trust in memory of the short story writer and novelist from Kozhikode.
- The award comprises a cash prize of ₹50,000 and a sculpture.
- Novels released in the last five years are eligible for this award.
CURRENT AFFAIRS: MOUS AND AGREEMENT
India and Fiji have signed MoU on visa exemption
- India and Fiji have signed MoU on visa exemption for holders of diplomatic and official passports.
- As part of this agreement, diplomatic and official passport holders can enter, transit, and stay in each other territories in the absence of a visa for a period not exceeding 90 days.
- The Memorandum of Understanding (MoU) was exchanged in the presence of Prime Minister of Fiji Sitiveni Rabuka and External Affairs Minister Dr. S Jaishankar.
- India and Fiji have inaugurated the solarization of the State House in Suva (the capital of Fiji).
- On the visa waiver agreement, Dr. S Jaishankar said that the agreement will help encourage greater travel between both countries.
BEL and IISc Bengaluru signed an MoU.
- Navratna Defence PSU Bharat Electronics Ltd (BEL) and Indian Institute of Science (IISc), Bengaluru signed an MoU.
- They have signed up to work together in Artificial Intelligence (AI), Machine Learning (ML), and other emerging technologies.
- The MoU has been signed on the sidelines of the ongoing Aero India 2023 and aims to leverage the complementary strengths and capabilities of BEL and IISc.
- The agreement will enable BEL and IISc to create a variety of products and services with AI incorporated and integrated.
- IISc will provide specialized services in AI and ML for BEL to undertake various projects in terms of R&D solutions, development of algorithms, and training of BEL engineers.
About BEL:
- Bharat Electronics Ltd (BEL) was established in 1954.
- It is headquartered in Bengaluru.
India and Spain agreed to collaborate on digital infrastructure, climate action, and sustainable development
- India and Spain agreed to collaborate on digital infrastructure, climate action, and sustainable development.
- Prime Minister Narendra Modi and his Spanish counterpart Mr. Pedro Sanchez agreed to strengthen the growing relationship between both countries.
- Both leaders discussed many bilateral and international issues of mutual interest.
- India and Spain leaders reviewed ongoing bilateral initiatives and expressed satisfaction at the recent high-level exchanges.
- Both leaders agreed to collaborate on issues such as digital infrastructure, climate action, clean energy transition, and sustainable development.
About Spain:
- Capital: Madrid,
- The current currency since 2002 is the Euro.
Uttar Pradesh Sports Inks MoUs With HCL Foundation To Strengthen The Grassroots Sports Ecosystem
- Uttar Pradesh Sports Inks MoUs With HCL Foundation To Strengthen The Grassroots Sports Ecosystem And Infrastructure And Build High-Performance Centre.
- The sports-focused session titled “Harnessing opportunities in the sports sector in Uttar Pradesh” at the Invest UP Summit saw MoUs being signed to strengthen the grassroots sports ecosystem of the state and create synergies with corporates and organizations to work on the PPP model to empower athlete training in the state.
- HCL Foundation intends to work with 5,000 underserved children and youth and persons with a disability to identify and nurture talent in multiple sports with the vision of mainstreaming them in the existing sports ecosystem of India.
- The proposed project will be implemented in the Lucknow, Gautam Buddha Nagar & Hardoi districts of Uttar Pradesh.
About HCL:
- HCL Technologies Limited is an Indian multinational information technology services and consulting company headquartered in Noida.
- It emerged as an independent company in 1991 when HCL entered into the software services business.
- CEO: C Vijayakumar
- Founder: Shiv Nadar
- Headquarters: Noida
Daily CA One-Liners: Feb 18
- Shinku La Tunnel construction was approved by Union Cabinet to provide all-weather connectivity in Ladakh.
- The Union Cabinet has approved strengthening the country’s cooperative movement and taking it to the grassroots level
- PACS, Dairy, and Fishery Cooperatives would be set up during the next five years.
- The Union Cabinet has approved a Centrally Sponsored Scheme- Vibrant Villages Programme with a financial allocation of 4,800 crore rupees for the fiscal years 2022-23 to 2025-26.
- India’s overall exports from April to January in the current financial year are estimated to show a positive growth of 17.33% over the same period last year.
- A renowned writer Subhash Chandran bagged the Akbar Kakkattil award for his novel ‘Samudrasila’
- India and Fiji have signed MoU on visa exemption for holders of diplomatic and official passports
- Navratna Defence PSU Bharat Electronics Ltd (BEL) and Indian Institute of Science (IISc), Bengaluru signed an MoU
- India and Spain agreed to collaborate on digital infrastructure, climate action, and sustainable development
- Uttar Pradesh Sports Inks MoUs With HCL Foundation To Strengthen The Grassroots Sports Ecosystem And Infrastructure And Build High-Performance Centre
- The Reserve Bank of India (RBI) is organizing its 2nd global hackathon – “HARBINGER 2023 – Innovation for Transformation” with the theme ‘Inclusive Digital Services’.
- Paytm Payments Banks Limited (PPBL) has launched the Unified Payments Interface (UPI LITE), enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions.
- The Reserve Bank of India (RBI) has granted in-principle approval to 32 entities to operate as an online payment aggregator (PA) & 19 new PAs to operate as online PAs.
- The Securities and Exchange Board of India (SEBI) introduced the issue summary document (ISD) for filing papers about Initial Public Offer (IPO) and for further issue of securities in XBRL (Extensible Business Reporting Language) format, a move that will help provide data to stakeholders in a structured manner.
- The European Investment Bank (EIB), the bank of the European Union, formally agreed to join the India Hydrogen Alliance (IH2A) and expand support for large-scale green hydrogen hubs and projects across India with indicative funding of €1 billion
- The Asian Development Bank (ADB) has approved a USD 130 million (over Rs 1,072 crore) loan to increase agricultural productivity and promote horticulture agribusinesses to raise farmers’ income in Himachal Pradesh (HP) under the HP Subtropical Horticulture, Irrigation, and Value Addition Project.
- EbixCash Limited, a subsidiary of US-based Ebix Inc, has become the first company in India to launch and enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India.
- The Ministry of Culture is organizing the First G20 Culture Group (CWG) meeting in Khajuraho, Madhya Pradesh (MP) from 22nd to 25th February 2023.
- United States (US) aerospace major Boeing launched its first global support center (GSC) in India at Gurugram, Haryana.
- SpaceX is a big step closer to sending its giant Starship spacecraft into orbit, completing an engine-firing test at the launch pad.