Current Affairs January 31st 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

Equity mutual funds to adopt T+2 redemption payment cycle from Feb 1 2023

• All asset management companies (AMCs) in India will move to T+2 – shorthand for “trade date plus two days”, redemption payment cycle for equity schemes from February 1, 2023, in a move to benefit mutual fund investors.
• The announcement has come on the heels of Indian equity markets moving to a T+1 settlement cycle for all stocks, shortening the settlement cycle by a day and making the availability of funds a day sooner than at present.

Key Highlights : 

• To pass on this benefit to mutual fund investors, the Association of Mutual Funds in India (AMFI) has decided all asset management companies will move to a T+2 redemption payment cycle for equity schemes and implement this uniformly with effect from February 1, 2023.
• The T+1 settlement cycle for Indian equity markets is a global first, and the mutual fund industry wants to pass on the benefit to investors by proactively adopting a T+2 redemption payment cycle for equity funds.

About AMFI : 

• Founded : 1995
• Headquarters : Mumbai, Maharashtra, India
• Chairman : A Balasubramanian
• Chief Executive : N. S. Venkatesh
• As of now, 42 AMCs that are registered with Securities and Exchange Board of India (SEBI), are members of AMFI and manage assets across equity, debt, and commodities.

Moody’s upgrades ratings for PNB, Canara Bank and Bank of Baroda to ‘Baa3’

• Global rating agency Moody’s Investors Service has upgraded the long-term local and foreign currency deposit ratings of Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB) from “Ba1″ to “Baa3”, reflecting improving credit profile and macro economic conditions.
• The global credit ratings agency also upgraded the Baseline Credit Assessment (BCAs) of these 3 banks to ba3 from b1.

Key Highlights : 

• The upgrading of ratings and BCA reflects an improvement in India’s macro profile to “Moderate” from “Moderate” and the improving credit metrics of the four banks.
• The ratings upgrades of the four banks reflect their improved asset quality and profitability.
• The rating agency flagged risks from rising interest rates and moderation in the pace of the country’s economic growth.
• Still, loans to small and medium-size enterprises continue to pose risks to the banks’ asset quality as Moody’s expects this segment to be the most vulnerable to interest rate rises.
• The gross non-performing loan ratios as of the end of September 2022 for SBI, BOB, Canara and PNB declined sharply from levels in March 2018. 

About Moody’s Investors Service :          

• Founded: 1909
• Headquarters : New York, United States.
• Moody’s Investors Service, often referred to as Moody’s, is the bond credit rating business of Moody’s Corporation, representing the company’s traditional line of business and its historical name.

India sells first green bonds worth ₹8,000 cr at 5-6 bps below sovereign yields

• India sold its first sovereign green bonds worth a total of 80 billion rupees ($979.61 million) at yields below comparable government bonds.
• The Reserve Bank of India (RBI) has auctioned ₹4,000 crore worth five year bonds at a coupon rate of 7.10%, five basis points below the five-year sovereign yield.
• Another ₹4,000 crore in 10-year bonds at coupon rate of 7.10% at coupon rate of 7.29%, which is 6 basis points below comparable government securities.
• The proceeds from the sale of the green bonds are to be used for ‘green’ projects such as solar power, wind and small hydro projects and other public sector projects that help reduce the economy’s carbon footprint.
• The RBI announced a fully accessible route (FAR) for investments by non-residents in government securities including sovereign green bonds.

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 & Citibank tie-up for co-branded credit card – Paytm CITI Card

• Citibank and payments platform Paytm ( One97 Communications), have ended their partnership for a co-branded credit card Paytm CITI Card, ahead of the merger of Citibank’s consumer banking business with Axis Bank.
• Both Citibank and Paytm have written to cardholders informing them that the co-branded credit card will be shut down, and offering them other cards they could opt for.

Key Highlights : 

• For existing Citi Rewards Credit Card customers, the bank has offered to replace the Paytm Citi cards with Citi Cash Back Credit Card.
• The consent to swap to another Citi-branded credit Card will also serve as consent for transfer of the cardholder’s banking relationship with Citibank to Axis Bank.
• Failure to consent, will lead to closure of the Citi Paytm credit card effective January 30, as Citi India will no longer be able to provide services on the Citi Paytm Credit Card.
• In March 2022, Axis Bank had announced acquiring Citigroup’s retail banking business in India for ₹12,325 crore, subject to requisite approvals.

About Citibank India : 

• Founded : 1902
• Headquarters : Mumbai, Maharashtra, India
• CEO : Ashu Khullar
• Citibank India is a foreign bank in India with a full service onshore platform.
• It is a subsidiary of Citigroup, a multinational financial services corporation headquartered in New York City, United States.

About Paytm : 

• Founded : August 2010
• Headquarters : , Noida, Uttar Pradesh, India
• Founder & CEO : Vijay Shekhar Sharma

Star Health and Allied Insurance & Punjab National Bank enter into long term Bancassurance Tie-up

• Star Health and Allied Insurance, India’s first standalone health insurance company, has renewed its strategic corporate agency tie-up with Punjab National Bank (PNB) for a long-term period.

About the Agreement : 

• Under this agreement, Star Health’s health insurance products will be available through the bank’s extensive distribution network of about 10,000 branches across the country, providing customers with a one-stop solution for all their health insurance needs.
• The partnership will enable both PNB & Star Health, to further increase insurance penetration pan India while making health insurance easily accessible across regions.

About Star Health and Allied Insurance : 

• Founded : 2006
• Headquarters : Chennai, Tamil Nadu
• Chairman & CEO : V. Jagannathan

About PNB : 

• Founded : 19 May 1894
• Headquarters : Delhi, India
• MD & CEO : Atul Kumar Goel

CURRENT AFFAIRS: NATIONAL NEWS

CIL sets aside ₹42,600 cr for cleaner coal transport, solar:

• State-run miner Coal India Ltd (CIL) plans to invest around ₹42,600 crore in low-emission infrastructure for fossil fuel mining and green energy to help India achieve its net-zero targets, chairman and managing director Pramod Agrawal
• CIL plans to invest ₹24,000 crore in first mile connectivity (FMC) projects in three phases, including ₹10,500 crore in phase I involving 35 projects, which will enable mechanized transportation of 415 million tonnes of coal.
• By December 2024, it will increase to more than 550 million tonnes
• In the second phase, the company will take up nine FMC projects with investments of ₹2,500 crore by FY25 which would handle the mechanized evacuation of 57 million tonnes of coal.
• Seventy more projects have been identified in the third phase which would require an investment of ₹11,000 crore.
• FMC refers to transportation of coal from pitheads to dispatch points from where it is transported to consumers.
• The company also plans to spend about ₹3,600 crore in 24 railway connectivity projects.

Rashtrapati Bhavan’s Mughal Gardens renamed as Amrit Udyan:

• Although the current installed capacity of Coal India’s solar power generation is only around 10 MW, the company plans to increase this to 3,000 MW or 3 GW, which would entail a cumulative investment of about ₹ 15,000 crore by 2024. 

• The Mughal Garden, located within the grounds of the Rashtrapati Bhavan in New Delhi, is one of the most popular tourist attractions in the city.
• The garden, known for its beautiful flowers and lush green plants, has now been renamed Amrit Udyan and is set to open its doors to the public from January 31.
• The President’s secretariat has announced the opening date, ticket prices, and other details for visitors who want to explore the garden’s beauty.
• The Mughal Garden, now known as Amrit Udyan, is a spectacular sight to behold.
• The garden is spread over 12 acres and features a variety of flowers and plants that are carefully tended to by skilled gardeners.
• The garden is divided into different sections, each showcasing a different type of plant or flower.
• The main attraction of the garden is the Mughal-style water channels that run through the garden and are surrounded by colourful flowers and plants.
• Visitors can also see the famous ‘Bonsai Garden’, a small replica of the Mughal Garden.
• The Amrit Udyan is also known for its medicinal plants and herbs.
• The garden has a vast collection of medicinal plants, which are used for the treatment of various diseases.
• Visitors can learn about the medicinal properties of the plants and how they are used in traditional Ayurvedic medicine.

Govt forms grievance committees to address complaints against social media platforms

• The Centre notified three grievance panels that will take the final call on social media takedowns, as proposed by an amendment to the information and technology rules notified last year.
• The panels have been appointed in exercise of the powers conferred by sub-rules (1) and (2) of rule 3A of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021,
• The move has been opposed by several members of civil society and industry stating that it will give the government far-reaching powers over what content stays online.
• Defending the amendments, Union minister Rajeev Chandrashekar said last year that the rules have been amended against the backdrop of complaints regarding the action, or the lack of it, on the part of the intermediaries on user grievances regarding objectionable content or suspension of their accounts.
• Those who are dissatisfied by the action taken against content and/or accounts by intermediaries may appeal to the committee within 30 days of the decision being received.
• The intermediaries are mandated to follow the directions of the panel, else they may lose safe harbour or immunity from prosecution that is provided to them under Section 79 of the IT Act.

CURRENT AFFAIRS : INTERNATIONAL NEWS

China’s population drops for first time since 1961

• According to the  data released by the National Bureau of Statistics of China (NBS), the population in the Chinese mainland in 2022 is 1.41175 billion which will fall by 850,000 from 2021.
• China’s population declined for the first time since 1961 due to a plunging birth rate.
• The NBS announcement comes at a time when China’s economic growth fell to its second-lowest in five decades, registering a paltry 3% increase in 2022.

Key Highlights : ·        

• China registered about 9.56 million new-borns,2022 down from 10.62 million in 2021.
• China’s birth rate stood at 6.77 births per 1,000 people in 2022, down from 7.52 in 2021.
• The death rate nationwide stood at 7.37 per 1,000 people,2022 putting the natural growth rate at negative 0.6 per 1,000 people.
• India is projected to have a population of 1.668 billion in 2050, more than China’s 1.317 billion by the middle of this century.
• China implemented a ‘third-child policy’ in May 2021 and rolled out a series of stimulus measures to boost population growth.
• As per the revised policy, Chinese people can now have up to three children.
• China conducts a nationwide population census every decade, with the latest being done in 2020.
• According to a recent report by the World Population Prospects 2022 by the United Nations Department of Economic and Social Affairs, Population Division, India is projected to surpass China as the world’s most populous country in 2023.

About China : 

• President : Xi Jinping
• Capital : Beijing
• Currency : Renminbi

India signs MoU with South Africa to bring 12 more cheetahs in February 2023

• India and South Africa have signed a memorandum of understanding (MoU) to bring in dozens of African cheetahs to India over the next 10 years, in a new development for Project Cheetah.
• An initial batch of 12 cheetahs (7 male and 5 female) is scheduled to be flown from South Africa to Kuno National Park (KNP) in Madhya Pradesh (MP), India in February, 2023.
• South Africa will provide 12 cheetahs per year to India over the next 8 to 10 years.
• This agreement will be reviewed after 5 years.

Key Highlights : 

• Most of the world’s 7,000 cheetahs live in South Africa, Namibia and Botswana.
• Namibia has the largest population of Cheetahs in the world, earning it the title “The Cheetah Capital of the World.”
• As part of the cheetah reintroduction programme, the first batch of 8 cheetahs (5 females and 3 males) were brought to Kuno in 2022.
• Cheetahs are being reintroduced after they became extinct in India during the last century due to overhunting and habitat loss.
• On September 17, 2022, Prime Minister Shri Narendra Modi had released 8 cheetahs flown in from Namibia into the KNP.
• Under the ‘Action Plan for Reintroduction of Cheetah in India’, prepared by the Wildlife Institute of India, 50 cheetahs will be brought from African countries to various national parks over 5 years.
• Cheetah is the only large carnivore that got completely wiped out from India due to over-hunting and habitat loss.
• The last cheetah died in Koriya district of present-day Chhattisgarh in 1947 and the species was declared extinct in 1952.

About South Africa : 

• President : Cyril Ramaphosa
• Capitals : Pretoria, Cape Town, Bloemfontein
• Currency : South African rand

India extends USD 40 mn for bolstering sports infrastructure in Maldives – EAM Jaishankar

• India’s External Affairs Minister Shri S. Jaishankar has extended a concessional USD 40 million Line of Credit for developing sporting infrastructure in the Maldives.
• This is part of New Delhi’s efforts to bring PM Narendra Modi’s flagship projects such as “Fit India” and “Khelo India” into the ambit of the ‘Neighbourhood First Policy’.
• Fit India and Khelo India were introduced by the Modi government to revive sporting and fitness culture at the grass root level in the country.
• Jaishankar inaugurated the community centre with his Maldivian counterpart Abdulla Shahid.
• The community centre in Shaviyani Foakaidhoo is part of 45 high-impact projects that India is partnering with the Maldives government, of which 23 have been completed.
• Foakaidhoo is one of the inhabited islands of the Shaviyani Atoll administrative division and is geographically part of the Miladhummadulhu Atoll in the Maldives.
• Additionally, New Delhi was working with the Male to augment Maldives Industrial Fisheries Company’s processing and cold storage capacities.
• The Maldives and Sri Lanka are India’s key maritime neighbours in the Indian Ocean Region and occupy a special place in the Prime Minister’s vision of ‘SAGAR’ (Security and Growth for All in the Region) and ‘Neighbourhood First’.

About Maldives : 

• President : Ibrahim Mohamed Solih
• Capital : Malé
• Currency : Maldivian rufiyaa

CURRENT AFFAIRS : STATE NEWS

Assam’s Bioethanol Unit Will Be Set Up By October 2023

• The minister of state for Petroleum and Natural Gas, Shri Rameswar Teli revealed that India’s first ever bio-refinery unit for production of bioethanol from bamboo is expected to be set up by October 2023 in Assam.
• It will be the country’s first unit for producing ethanol from bamboo.
• He mentioned this while addressing the ‘Evolve-2023’, an international e-mobility and alternative fuels conference organised by the Kerala Motor Vehicles Department.

About Biofuels : 

• Biofuels are liquid or gaseous transport fuels, such as biodiesel and bioethanol, made from biomass.
• They serve as a renewable alternative to fossil fuels, helping to reduce greenhouse gas emissions.
• India has achieved the target of supplying 10% ethanol-blended petrol and is aiming to double the blend by 2025-26 in order to cut oil import dependence and address environmental issues.
• India is the world’s fifth largest producer of ethanol after the US, Brazil, EU and China.
• Ethanol worldwide is largely used for consumption but nations like Brazil and India also dope it in petrol.
• The government has promoted usage of biofuel in the country by notification of the National Policy on Biofuels (NPB), 2018 which allows use of multiple feedstocks for producing bioethanol for increased supply of ethanol for blending with petrol.

About Assam : 

• Governor : Jagdish Mukhi
• Chief Minister : Himanta Biswa Sarma
• Capital : Dispur
• National Park : Kaziranga National Park, Manas National Park

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

IDFC AMC Appoints Mr Manish Gunwani as Head – Equities

• IDFC Asset Management Company Limited (‘IDFC AMC’), one of the top 10 AMCs in the country, has appointed Mr. Manish Gunwani as Head – Equities.
• In this role, Mr. Gunwani will have overall responsibility for equity fund management for the fund house.
• Gunwani has over 25 years of experience, covering the entire gamut of equity research and fund management.

About IDFC AMC : 

• Established : 2000.
• CEO : Mr. Vishal Kapoor
• IDFC AMC is the leading asset management company in India helping you achieve better outcomes for your savings by making smarter investment choices.

Netflix co-founder Mr Reed Hastings steps down as co-CEO

• Netflix Inc co-founder Mr Reed Hastings,the entrepreneur who reshaped the media landscape and led the charge into streaming, stepped down as co-chief executive of the company
• Mr Hastings, 62, co-founded the company in 1997 when Netflix delivered its subscribers movies on DVDs sent in the mail, will become chairman.
• Greg Peters, the company’s chief product and chief operating officer, will join Ted Sarandos, chief content officer, as a co-chief executive. ·
• Netflix has been under pressure from restrained consumer spending and competition from Walt Disney Co, Amazon and others spending billions of dollars to make TV shows and movies for online audiences.

About Netflix : 

• Founded : August 29, 1997
• Headquarters : Los Gatos, California, U.S
• Netflix, Inc. is an American subscription video on-demand over-the-top streaming service and production company.

Shri J.P. Nadda’s Term as BJP Chief Extended Till June 2024

• BJP leader and Union minister Shri Amit Shah announced that the Bharatiya Janata Party has extended its president Shri J.P. Nadda’s term till June, 2024.
• Shri Nadda’s extension was proposed by defence minister Shri Rajnath Singh.
• He was appointed as BJP president on January 20, 2020.
• He had taken over the presidency of the party after Shah was appointed as union home minister in 2019.
• He was first appointed as the party’s working president and then given a full three-year term.

Mr Anurag Gupta Appointed as VP & Head of Global Merchant & Network Services, American Express Banking Corp., India

• American Express Banking Corp., (AEBC) has appointed Mr Anurag Gupta as the Vice President (VP) and Head of Global Merchant & Network Services in India, bringing both the acquiring and the network cards issuance teams under one leader.

Roles & Responsibilities : 

• Mr Anurag will be responsible for expanding the Amex merchant coverage and the network that issues American Express Cards via bank partnerships in India.
• Gupta has been a part of American Express for over 18 years working across different businesses, functions, and roles in India and in other global markets.
• His appointment is key to further accelerate and drive a step-up in the growth trajectory of American Express’ acquiring and issuing partnerships in India.

Mr BG Mallya takes over ICF as general manager

• Mr BG Mallya, took charge as General Manager of Integral Coach Factory (ICF).
• Prior to this, he was serving Southern Railway (SR) as its additional general manager.
• Mallya is an officer of 1985 batch of Indian Railway Service of Electrical Engineers.

About ICF : 

• Established : October 2, 1955
• Headquarters : Chennai, Tamil Nadu, India
• It is operated by the Indian Railways.
• The ICF is a manufacturer of rail coaches located in Perambur, Chennai, Tamil Nadu, India.
• The ICF is one of the four rake production units of the Indian Railways, the other three being the Modern Coach Factory at Raebareli, Rail Coach Factory at Kapurthala and Marathwada Rail Coach Factory at Latur

CURRENT AFFAIRS: SPORTS NEWS

India crowned first-ever ICC Under-19 Women’s T20 World champions: 

• India became the first-ever ICC Under-19 Women’s T20 World Cup winners, after a comprehensive, seven-wicket victory over England in Potchefstroom.
• It was another clinical display with the ball that held the key to India’s march to victory, with Titas Sadhu setting the pace, with the spinners delivering another telling performance when it mattered.
• Supplementing the fine bowling was outstanding fielding.
• The dismissal of England’s captain, Grace Scrivens, epitomised the sheer determination in the Indian ranks.
• The left-hander hit Archana towards long-off, where Gongadi Trisha sprinted in, and then leapt forward to take a wonderful, tumbling catch.
• Shafali Verma and Co. scripted history as the Indian women’s team defeated England in the final of the U-19 Women’s T20 World Cup at the Senwes Park in Potchefstroom.
• Fresh from getting the better of New Zealand in the semi-finals, Shafali-led Team India squared off against England, who had outclassed Australia to punch its ticket for the inaugural Under-19 Women’s T20 World Cup final in South Africa.

Aryna Sabalenka Wins Australian Open For First Grand Slam Crown:

• Aryna Sabalenka tamed her nerves to blast her way to a maiden Grand Slam title at the Australian Open, with a 4-6 6-3 6-4 win over Kazakh 22nd seed Elena Rybakina in a thrilling final featuring two power-hitters in the women’s game.
• Saba Lenka’s 11th straight win of the year will propel the Belarusian fifth seed back to her career-high ranking of number two behind Poland’s Iga Swiatek, as she reaps the rewards of an improved playing mindset in the New Year.
• Rod Laver Arena exhaled.
• A flood of tears, a howling storm of emotion washed over the strapping Belarusian, who has been climbing the rankings and dancing around the winner’s circle these past seasons.
• Thrice she came up just short, falling in the semifinals.
• she blasted through the gates to claim her first Grand Slam title – the Australian Open.
• Sabalenka, 25, playing her first Major final, pipped Elena Rybakina 4-6, 6-3, 6-4 to hold aloft the Daphne Akhurst Memorial Cup, presented to her by the legendary Billie Jean King.
• Sabalenka was broken in the third game of the final in which she threw in a double fault and then went wide on the backhand.

Djokovic riding high in pursuit of 22nd Slam title and top ranking:

• Novak Djokovic has won all nine of his previous Australian Open finals so confidence is sky-high as he bids to equal Rafael Nadal’s Grand Slam record and return to world number one.
• That makes the Serb heavy favourite but in Stefanos Tsitsipas his invincibility will face a major test when they meet in the Melbourne Park title match.
• While Djokovic is into a record 33rd Grand Slam final and bidding to equal Nadal’s 22 major crowns, the Greek third seed will play only his second.
• Adding spice to the showdown, the winner will become world number one, dethroning Spanish teenager Carlos Alcaraz.

Copa America 2024: USA to host 16-team tournament

• The United States will host the 2024 Copa America, which will feature 10 teams from South America and six from North and Central America and the Caribbean.
• It will be the second time the Copa America has been hosted outside of South
• Ecuador was originally scheduled to host the tournament but its government said in November it would be unable to.
• The 2021 tournament took place in Brazil and was won by Argentina.
• The Copa America typically includes the 10 Conmebol teams but this time will expand to include a further six from North and Central America an d the Caribbean, who must qualify through the 2023-24 Concacaf Nations League.
• That means the US, who were knocked out by the Netherlands in the round of 16 in Qatar, are not guaranteed a place at the tournament despite hosting it.
• The US, who held the tournament in 2016 for a special centenary edition, are also the joint hosts for the 2026 World Cup with Mexico.

Daily CA on January 31:

• State-run miner Coal India Ltd (CIL) plans to invest around ₹42,600 crore in low-emission infrastructure for fossil fuel mining and green energy to help India achieve its net-zero targets, chairman and managing director Pramod Agrawal
• The Mughal Garden, located within the grounds of the Rashtrapati Bhavan in New Delhi, is one of the most popular tourist attractions in the city.
• The Centre notified three grievance panels that will take the final call on social media takedowns, as proposed by an amendment to the information and technology rules notified last year.
• India became the first-ever ICC Under-19 Women’s T20 World Cup winners, after a comprehensive, seven-wicket victory over England in Potchefstroom.
• Aryna Sabalenka tamed her nerves to blast her way to a maiden Grand Slam title at the Australian Open, with a 4-6 6-3 6-4 win over Kazakh 22nd seed Elena Rybakina in a thrilling final featuring two power-hitters in the women’s game.
• Novak Djokovic has won all nine of his previous Australian Open finals so confidence is sky-high as he bids to equal Rafael Nadal’s Grand Slam record and return to world number one.
• The United States will host the 2024 Copa America, which will feature 10 teams from South America and six from North and Central America and the Caribbean.

• All asset management companies (AMCs) in India will move to T+2 – shorthand for “trade date plus two days”, redemption payment cycle for equity schemes from February 1, 2023, in a move to benefit mutual fund investors.
• Global rating agency Moody’s Investors Service has upgraded the long-term local and foreign currency deposit ratings of Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB) from “Ba1″ to “Baa3”, reflecting improving credit profile and macro economic conditions.
• India sold its first sovereign green bonds worth a total of 80 billion rupees ($979.61 million) at yields below comparable government bonds.
• Citibank and payments platform Paytm ( One97 Communications), have ended their partnership for a co-branded credit card Paytm CITI Card, ahead of the merger of Citibank’s consumer banking business with Axis Bank.
• Star Health and Allied Insurance, India’s first standalone health insurance company, has renewed its strategic corporate agency tie-up with Punjab National Bank (PNB) for a long-term period.
• According to the  data released by the National Bureau of Statistics of China (NBS), the population in the Chinese mainland in 2022 is 1.41175 billion which will fall by 850,000 from 2021.
• India and South Africa have signed a memorandum of understanding (MoU) to bring in dozens of African cheetahs to India over the next 10 years, in a new development for Project Cheetah.
• India’s External Affairs Minister Shri S. Jaishankar has extended a concessional USD 40 million Line of Credit for developing sporting infrastructure in the Maldives.
• The minister of state for Petroleum and Natural Gas, Shri Rameswar Teli revealed that India’s first ever bio-refinery unit for production of bioethanol from bamboo is expected to be set up by October 2023 in Assam.
• IDFC Asset Management Company Limited (‘IDFC AMC’), one of the top 10 AMCs in the country, has appointed Mr. Manish Gunwani as Head – Equities.
• Netflix Inc co-founder Mr Reed Hastings,the entrepreneur who reshaped the media landscape and led the charge into streaming, stepped down as co-chief executive of the company
• BJP leader and Union minister Shri Amit Shah announced that the Bharatiya Janata Party has extended its president Shri J.P. Nadda’s term till June, 2024.
• American Express Banking Corp., (AEBC) has appointed Mr Anurag Gupta as the Vice President (VP) and Head of Global Merchant & Network Services in India, bringing both the acquiring and the network cards issuance teams under one leader.
• Mr BG Mallya, took charge as General Manager of Integral Coach Factory (ICF).