Current Affairs March 02nd 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

PFRDA introduces T+2 settlement for partial withdrawal of NPS

• The Pension Fund Regulatory Development Authority (PFRDA) has reduced the timeline for withdrawal from the National Pension System (NPS) subscribers for processing partial withdrawal requests from 4 working days (T+4) to 2 working days (T+2) across all Central Record Keeping Agencies (CRAs).

What is T+2 & T+4? 

• T+2 means, “after 2 days of the request”, and T+4 means “after 4 days of the request”.

Conditions of partial withdrawal : 

• Subscriber should be in NPS at least for 3 years
• Withdrawal amount will not exceed 25% of the contributions made by the Subscriber
• Withdrawal can happen a maximum of 3 times during the entire tenure of subscription.
• Withdrawal is allowed only against the specified reasons, for example Higher education of children, Marriage of children

Key Highlights : 

• With the latest move on partial-withdrawal, PFRDA has now crunched the turnaround time for all kinds of withdrawals.
• As part of Azadi Ka Amrit Mahotsav and to commemorate 75 years of India’s independence, the intermediaries of PFRDA viz Central Record Keeping Agencies (CRAs), Pension Fund and Custodians have improved the system interface.
• Meanwhile, India’s pension assets (NPS and APY) continue to show frenetic growth and the assets under management touched about ₹8.75-lakh crore till February 11, 2023.

About PFRDA : 

• Founded : 23 August 2003
• Headquarters : New Delhi, Delhi, India
• Chairman : Supratim Bandyopadhyay
• PFRDA is the regulatory body for overall supervision and regulation of pensions in India.
• It operates under the jurisdiction of the Ministry of Finance in the Government of India.

IDFC Mutual Fund to launch India’s first international ETF debt fund                   

• IDFC Mutual Fund (MF) is set to launch India’s first international debt fund, the IDFC US Treasury Bond 0-1 Year FOF (fund of funds).
• With this international debt fund, Indian retail investors can now have access to diversify their investments and invest in ultra-safe, currently high-yield US treasury securities.
• They can also use this FOF as a hedge against their exposure to the US dollar (USD).

Key Highlights : 

• The IDFC US Treasury Bond 0-1 Year FOF will invest in JPMorgan BetaBuilders US Treasury Bond 0-1 Year UCITS ETF, an exchange-traded fund (ETF) with exposure to 0-1-year US treasuries.
• Except for some cash holdings for liquidity needs, the fund will have 100% exposure to US treasuries.
• In 2022, the 1-year US treasury yields have increase from 0.38% to 4.65%, making it a good time to invest in US debt instruments.

Bank of Maharashtra partners with Experian India for credit portfolio management                    

• The Bank of Maharashtra (BoM) announced a strategic partnership with Experian India, In order to strengthen the digital security of the services.

Aim : 

• To provide a comprehensive suite of services such as credit risk, advanced analytics, and fraud prevention.

Key Highlights : 

• Experian is collaborating with BoM to provide innovative solutions throughout the customer lifecycle, enabling the bank to on-board New to Credit (NTC) and New to Bank customers (NTB) and service existing customers efficiently.
• BoM will avail the services for retail and non-retail clients, including SMEs (Small and Medium Enterprises), MSMEs (Micro, Small, and Medium Enterprises), and corporates.

About Experian : 

• Experian is a leading global information services company, providing data and analytical tools to our clients around the world
• MD of Experian Credit Information Company of India : Saikrishnan Srinivasan

About BoM : 

• Established : 16 September 1935
• Headquarters : Pune, Maharashtra, India
• MD & CEO – Shri A S Rajeev.
• Tagline : One Family One Bank

RBL Bank partners with India Exim Bank for Trade Finance               

• RBL Bank and Export-Import Bank of India (India Exim Bank), have entered into an agreement under the Trade Assistance Programme (TAP), to support cross-border trade transactions.
• Under the TAP, India Exim Bank aims to facilitate and enhance India’s exports globally by providing credit enhancement to trade instruments.

Key Highlights : 

• Through the programme, India Exim Bank will extend trade lines to participating overseas banks/institutions in the emerging markets.
• The credit enhancements to trade instruments will help mobilise trade finance and would increase support to Indian exporters.

About RBL Bank : 

• Founded : 6 August 1943
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Mr. R Subramaniakumar
• RBL Bank, formerly known as Ratnakar Bank, is an Indian private sector bank

About EXIM Bank of India : 

• Established : 1982
• Headquarters : Mumbai, Maharashtra, India
• Managing Director : Ms. Harsha B Bangari

CURRENT AFFAIRS: NATIONAL NEWS

FSSAI specifies comprehensive group standard for millets

• The Food Safety and Standards Authority of India (FSSAI) has specified a comprehensive group standard for millets.
• It has notified Food Safety and Standards (Food Products Standards and Food Additives) Second Amendment Regulations, 2023.
• The standards will be enforced on September 1.
• So far, individual standards for only a few millets like jowar, ragi, bajra and Amaranth are prescribed in the Food Safety and Standards (Food Product Standards and Food Additives) Regulations, 2011.
• FSSAI has now framed a comprehensive group standard for 15 types of millets specifying 8 quality parameters e., maximum limits for moisture content, uric acid content, extraneous matter, other edible grains, defects, weevilled grains, and immature and shriveled grains, so as to ensure availability of good quality (standardized) millets in domestic and global markets.
• The group standard is applicable to barnyard millet, Amaranthus, Buckwheat, Finger Millet, Foxtail Millet, Pearl Millet, Fonio, Little Millet and Sorghum among others.
• This comes at a time when the International Year of Millets 2023 provided an opportunity to increase global production, efficient processing and better use of crop rotation and promote millets as a major component of the food basket.
• Millets are a group of small-grained cereal food crops that are highly tolerant to drought and other extreme weather conditions and require low chemical inputs such as fertilizers and pesticides.
• Most millet crops are native to India and provide most of the nutrients required for normal functioning of the human body.

About FSSAI

• Food Safety and Standards Authority of India is a statutory body established under the Ministry of Health & Family Welfare, Government of India.
• The FSSAI has been established under the Food Safety and Standards Act, 2006, which is a consolidating statue related to food safety and regulation in India.
• Founded: 5 September 2008
• Headquarters: New Delhi

60% of voters linked Aadhaar to voter ID: RTI

• As per the response from the Election Commission (EC) through RTI has disclosed that over 60% of India’s 94.5 crore voters in India have linked their Aadhaar number to their voter IDs.
• The Election Laws (Amendment) Act, 2021 was passed to deduplicate electoral rolls by allowing election authorities to collect the 12-digit number from voters.
• The total number of voters who have their Aadhaar linked is 56, 90, 83,090.
• Tripura has the highest rate of Aadhaar linking; over 92% of voters in the State.
• The per-State percentages given here are based on total voter enumerations released by States and Union Territories in the past three years.
• After Tripura, Lakshadweep and Madhya Pradesh occupy the second and third spots, with over 91% and 86% of voters having provided the number respectively.
• Voters in southern States have not provided their Aadhaar in such proportions, even though they are above the national average.
• Andhra Pradesh and Karnataka both fell to 71%, whereas the number stands around 63% and 61% for Tamil Nadu and Kerala.
• The State with the lowest Aadhaar registration by voters is Gujarat, where only 31.5% of voters have linked the document to their voter registration.
• Less than 34% of voters in the Delhi had their Aadhaar linked.

LIC reduces its stake in Industrial Investment Trust to 3.362%

• Life Insurance Corporation of India (LIC) has diluted its shareholding in ‘Industrial Investment Trust Limited’(IITL) from 12,25,017 to 7,57,966 Equity Shares decreasing its shareholding from 5.433% to 3.362% of the paid-up capital.
• It sold about 4.67 lakh shares of IITL at an average price of ₹88.39 between July 6, 2012, and February 23, 2023, the insurance major informed the exchanges.

About LIC : 

• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairperson : M R Kumar

About IITL : 

• IITL, was incorporated in the year 1933 as an investment trust company.
• IITL obtained Certificate of Registration from Reserve Bank of India in the year 2000 to carry on as a Non Banking Financial Company (NBFC) without accepting Public Deposit

CURRENT AFFAIRS : INTERNATIONAL NEWS

Bangladesh govt signs agreement with ISA to increase usage of solar energy in Bangladesh   

• The government of Bangladesh signed an agreement with the International Solar Alliance (ISA) to increase the use of solar energy in Bangladesh.
• The agreement was signed between the ISA Director General Ajay Mathur and the Bangladesh Power Division Secretary Habibur Rahman.
• The agreement is to be implemented by December 2026.

Key Highlights : 

• The government has set up a target of generating 40% of its total energy through renewable sources by 2041.
• Bangladesh aims to produce 4000 MW of solar power by the end of 2030 for which various projects have been taken up.
• Several projects include 12 trolley mounted solar irrigation systems of 2 kw each for Bangladesh Rice Research Institute (BRRI), 12 portable solar paddy threshers of 2 kw each, 1.5 kw solar drinking water plant, installation of 2 rooftop solar of 22 KW capacity and any 1 railway installation of rooftop solar projects on platforms will be taken up under the agreement.

About Bangladesh : 

• President : Mohammad Abdul Hamid
• Prime Minister : Sheikh Hasina
• Capital : Dhaka
• Currency : Taka

About ISA : 

• Founded : 30 November 2015
• Headquarters : Gurugram, Haryana, India
• Director General : Ajay Mathur
• The ISA is an alliance of 123 signatory countries.

Objective : 

• To work for efficient consumption of solar energy to reduce dependence on fossil fuels.

CURRENT AFFAIRS : STATE NEWS

France’s Guest of Honour at 31st edition of New Delhi World Book Fair       

•  The 31st edition of the New Delhi World Book Fair (NDWBF) is being organised from 25th Feb, 2023 to 5th Mar, 2023 at Pragati Maidan, New Delhi, India.
• Education Minister Dharthe Mendra Pradhan has inaugurated the fair & Publications Division, Ministry of Information and Broadcasting, is participating in the event.
• The 9-day mega fair is being organised by National Book Trust (NBT), India, an autonomous organization under the Ministry of Education, Government of India in collaboration with India Trade Promotion Organisation (ITPO).
• France has been designated as the Guest of Honor country at the World Book Fair.
• Theme of the ‘International Book Fair’ is “Elixir of Freedom”, to celebrate and remember 75 years of India and its glorious past in honour of the 75th anniversary of India’s independence.

Key Highlights : 

• The event will be attended by a total of 16 French authors, including Annie Ernaux, the 2022 Nobel Prize in Literature winner – she marked her presence on the inaugural day of the event.
• The physical edition of NDWBF is being held after 2 years as the outbreak of the coronavirus forced the event to move online.
• NDWBF was first held in 1972 after it was inaugurated by the then-President of India VV Giri.

About Ministry of Information & Broadcasting : 

• Cabinet Minister : Anurag Thakur
• Minister of State : L. Murugan

Karnataka to get India’s 1st Marina to promote coastal tourism                          

• Karnataka Chief Minister Shri Basavaraj Bommai has confirmed the construction of the India’s first Marina which will be constructed at Byndoor in the Udupi district, Karnataka

Aim : 

• To promote coastal tourism in Karnataka.
• He announced this while addressing a function “Seven Wonders of Karnataka” organized by the Department of Tourism.

Key Highlights : 

• After seeking permission from the Union government for the relaxation of Coastal Regulation Zone rules, it is proposed to take up beach tourism in coastal areas and pilgrim tourism.
• Also, to promote ‘yatra tourism’ in the state, the government proposed to build a corridor of ancient temples like Madhukeshwara in Banavasi and Dattatreya in Ganagapura.
• In total, there are over 250 tourist sites around Mysore.

About Karnataka :

• Governor: Thawar Chand Gehlot
• Chief minister: Basavaraj Bommai
• Capital: Bengaluru
• National Park : Bandipur NP, Kudremukh NP, Bannerghatta NP, Rajiv Gandhi NP
• Wildlife Sanctuaries : B R Hills Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Gudavi Bird Sanctuary, Bhadra Wildlife Sanctuary
• Tiger Reserve : Nagarahole Tiger Reserve, Bhadra Tiger Reserve
• Festival : Hampi, Mahamastakabhisheka (Shravanabelagola)
• Dance : Yakshagana, Dollu Kunitha, Bolak-aat (Bolak Dance)

CURRENT AFFAIRS: BUSINESS NEWS

Amazon latest to join govt e-comm platform ONDC

• Amazon has announced that it will join the Indian government’s ONDC (Open Network for Digital Commerce) platform.
• Amazon is planning to integrate its logistics network (from pickup to delivery) and SmartCommerce services with the Open Network for Digital Commerce (ONDC).
• SmartCommerce is an AWS-powered suite of SaaS products that enables MSMEs to build and scale their businesses across digital mediums.
• In 2022, Microsoft became the first big technology company to join the network with an intention of introducing group buying in the Indian market through social e-commerce.

About ONDC:

• ONDC is an open e-commerce protocol set up by the Ministry of Commerce’s Department of Promotion of Industry and Internal Trade (DPIIT).
• Under ONDC, it is envisaged that a buyer registered on one participating e-commerce site may purchase goods from a seller on another participating e-commerce site (for example, Flipkart).
• Presently, buyers and sellers have to be on the same app for a transaction which happens through the same platform.

FDI equity inflows decline 15% to $36.75 bn in Apr-Dec FY23

• Foreign direct investment (FDI) into India declined by 15 per cent to USD 36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data.
• The FDI inflows stood at USD 43.17 billion during the corresponding period of the previous year.
• The total FDI inflows, which includes equity inflows, re-invested earnings and other capital, declined to USD 55.27 billion during the nine months of the current fiscal year as against USD 60.4 billion in the year-ago period.
• During April-December 2022-23, Singapore emerged as the top investor with USD 13 billion FDI.
• It was followed by Mauritius (USD 4.7 billion), the US (about USD 5 billion), the UAE (USD 3.1 billion), the Netherlands (USD 2.15 billion), Japan (USD 1.4 billion), and Cyprus (USD 1.15 billion), the data showed.
• The computer software and hardware sector attracted the highest inflows of USD 8 billion during the nine-month period of this fiscal.
• It was followed by services (USD 6.6 billion), trading (USD 4.14 billion), chemicals (USD 1.5 billion), automobile industry (USD 1.27 billion) and construction (infrastructure) activities (USD 1.22 billion).
• Among states, Maharashtra ($10.7 billion) and Karnataka ($8.7 billion) attracted maximum FDI inflow between April-December FY2023.
• Gujarat’s FDI inflow stood at $4.1 billion while Delhi attracted investment of $6.1 billion during the period.

What is FDI?

• A foreign direct investment is an investment in the form of a controlling ownership in a business, in real estate or in productive assets such as factories in one country by an entity based in another country.

CURRENT AFFAIRS: AWARDS AND HONOUR

President Of India Presents Sangeet Natak Akademi Felllowships And Akademi Awards

• President DroupadiMurmu has presented the SangeetNatakAkademi awards and fellowships for the years 2019, 2020 and 2021.
• On the occasion, eight eminent personalitie s were given SangeetNatakAkademi Fellowships in the field of performing arts
• A total of 128 artists from the field of music, dance, theatre, traditional, folk, and puppetry were given the Awards.
• The Akademi also honoured 86 artistes with special one-time awards commemorating 75 years of India’s Independence.
• The awards are given to the artists from the field of Music, Dance, Theatre, Traditional/Folk/Tribal Music/Dance/Theatre, Puppetry and Overall contribution/scholarship in the Performing Arts etc.
• The Akademi Awards carries purse money of Rs. 1.00 lakh, a Tamrapatra and an Angavastram.

CURRENT AFFAIRS: MOUS AND AGREEMENT

BEL signs MoUs with Cisco, Aeronautical Development Agency,DRDO

• Bharat Electronics Ltd (BEL) announced signing Memorandums of Understanding (MoU) with Cisco and the Aeronautical Development Agency (ADA), DRDO.
• BEL and Cisco have entered into a long-term strategic cooperation in the areas of networking, collaboration, and security, among other associate d services.
• According to the company, the partnership aims to leverage the strengths and capabilities of BEL and Cisco to capitalise on opportunities emerging in the domains of network and security.
• Additionally, Cisco will explore the establishment of a Cisco Network Training Academy at the BEL Academy for Excellence (Nalanda), Bengaluru.
• The MoU aims at leveraging the complementary strengths and capabilities of BEL and ADA, wherein both parties will cooperate for the design, development, qualification, production, and supply of the internal weapon bay computer and other LRUs for AMCA and provide lifetime product support to the Indian Air Force.
• The Advanced Medium Combat Aircraft is a fifth generation, multi-role, all-weather fighter aircraft designed with high survivability and stealth capability.
• Daisy Chittilapilly, President, Cisco India & SAARC.

About BEL:

• Bharat Electronics Limited is an Indian Government-owned aerospace and defence electronics company.
• It primarily manufactures advanced electronic products for ground and aerospace applications.
• BEL is one of nine PSUs under the Ministry of Defence of India.
• Headquarters: Bengaluru
• Founded: 1954

Kerala Signs MoU with UN Women To Empower Women in Tourism

• Kerala entered into an agreement with UN Women, boosting women-friendly activities in the State’s tourism sector by training stakeholders who include young representatives and civil organisations.
• A memorandum of understanding signed by Kerala Tourism Director P.B. Nooh and UN Women India representative Susan Ferguson agreed to work towards promoting gender-inclusive tourism sites in the State.
• The Responsible Tourism Mission will be the implementing agency for the MoU.
• As per the pact inked at the first-ever Global Responsible Tourism Summit in Kumarakom, both parties will promote women-friendly tourism in Kerala.
• This will be done by creating modules and capacity-building of relevant stakeholders, besides providing advisory support for baseline research, implementing women-friendly tourist destinations and supporting interventions to change prevalent discriminatory social norms.
• The MoU will strive to build synergies with other flagship programmes of the State and help in rectifying social attitudes that are checking gender-inclusive public spaces in tourism.

Mpower signs MoU with NIMHANS to support implementation of Tele MANAS in India

• Mpower, a mental health initiative from the Aditya Birla Education Trust, is collaborating with NIMHANS (National Institute of Mental Health and Neuro-Sciences) towards expanding the implementation of Tele MANAS mental health support services across India.
• A Memorandum of Understanding was signed between the two organisations, where-in Mpower will be responsible for setting up, operating, and managing the Tele MANAS centres.
• NIMHANS will provide Mpower access to the platform, operating guidelines, training and mentoring, monitoring and the framework needed to operate the centres.
• The collaboration aims to ensure the successful on-ground implementation of Tele MANAS services, as well as accessibility and availability of trained experts and professional mental health counselling services to those in need.
• Tele MANAS follows a two-tier model, with Tier-1 consisting of state Tele MANAS cells that employ trained counsellors and mental health specialists.
• Tier-2 has specialists available at District Mental Health Programme (DMHP)/ Medical Colleges for physical consultation and/or e-Sanjeevani for audio-visual consultation.
• A toll-free, 24/7 number (14416) has been established across the country, allowing callers to select their preferred language and receive the necessary assistance.

IIT Madras partners with GIC to develop Urine-based TB diagnosis tech:

• The IIT Madras is partnering with the General Insurance Corporation of India (GIC Re) to develop a urine-based tuberculosis diagnosis or screening.
• The envisaged product is anticipated to be faster and far more affordable than the existing point-of-care diagnostic kits available for various diseases such as blood glucose monitors.
• The know-how and the relevant technologies will be made available to start-ups or diagnostic kit manufacturers.
• The key beneficiaries of this project, which is getting CSR funding from the GIC Re, will be primary, secondary, and tertiary healthcare centres besides the Health departments in State and Central governments.
• IIT Madras has already developed and patented the technologies for fiber optic sensor probe fabrication and optoelectronic readout devices.

About GIC Re:

• General Insurance Corporation of India Limited, abbreviated as GIC Re, is an Indian public sector reinsurance company which has its registered office and headquarters in Mumbai.
• It was incorporated on 22 November 1972 under Companies Act, 1956

Trade bodies sign MoU to foster Indo-Brazilian bilateral pulses trade

• The India Pulses and Grains Association (IPGA) and IBRAFE, Brazil, have signed a MoU at the recently held sixth edition of the Pulses Conclave in Mumbai to establish co-operative actions to contribute to the food security of both countries.
• IBRAFE is the Brazilian Institute of Beans, Pulses and Special Crops.
• As part of the MoU, both countries will take steps to foster the developme nt of international trade between India and Brazil.
• The said MoU lays emphasis on market intelligence, food security, quality standards, trade promotion, technology transfer, incentive to investments, an IPGA statement said.
• IPGA and IBRAFE shall work towards promoting pigeon peas (tur) and black matte (urad) and any other pulses crop of mutual interest including research in pre-harvest and post-harvest activities.

Tata Motors and Uber sign an MoU for 25k EV deliveries in India

• Tata Motors, India’s largest electric passenger vehicle manufacturer, has signed an agreement with ride-hailing company Uber to supply 25,000 electric vehicles (EVs).
• The agreement is the largest EV commitment between an automotive manufacturer and a ride-sharing platform in India.
• Under the agreement, Uber will deploy Tata Motors’ XPRES-T EVs by partnering fleet operators in Delhi National Capital Region, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.
• Uber has committed to 100 per cent of rides taking place in zero-emission vehicles, on public transit, or with micro-mobility by 2040.
• The announcement comes amid increasing interest in the ride-hailing industry to convert its fleet into EVs.
• This is Tata Motors’ second such large deal with a ride-hailing company.
• Tata had signed an agreement with Gurugram-based all-electric cab company BluSmart Mobility for delivering 10,000 XPRES-T EVs in June last year.
• Uber’s rival Ola Cabs also has plans to deploy about 1,000 cars as part of its Bengaluru EV cab pilot.
• The cars will be delivered in a phased manner, starting this month.
• However, the company did not respond to queries sent about the valuation of the deal and the timeline.
• Tata Motors launched the XPRES brand in July 2021 exclusively for fleet customers, and the XPRES-T EV as the first vehicle under this brand.
• The carmaker currently shares more than 70 per cent of overall electric four-wheeler passenger cars in the country.

About TATA Motors:

• Tata Motors Limited is an Indian multinational automotive manufacturing company, headquartered in Mumbai, India, which is part of the Tata Group.
• The company produces passenger cars, trucks, vans, coaches, buses.
• Founded: 1945, Mumbai
• Headquarters: Mumbai
• Founder: J. R. D. Tata
• President: Girish Wagh

About Uber:

• Headquarters: San Francisco, California, United States
• Founders: Travis Kalanick, Garrett Camp
• Founded: March 2009
• CEO: Dara Khosrowshahi

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Mr Shailesh Pathak appointed as  Secretary General of FICCI                                      

• Former bureaucrat Mr Shailesh Pathak has been appointed as the new Secretary General of the Federation of Indian Chambers of Commerce & Industry (FICCI) with effect from March 01, 2023.
• He Succeeds Mr Dilip Chenoy, who stepped down as Secretary General of FICCI in Oct 2022.
• FICCI also announced that Mr Arun Chawla, Director General (DG), will superannuate on June 30, 2023, and transition to an advisory role.

About FICCI : 

• Founded : 1927
• Headquarters: New Delhi, Delhi, India
• President: Mr Subhrakant Panda
• DG : Arun Chawla
• The FICCI is a non-governmental trade association and advocacy group based in India.

Pepsi appoints Ranveer Singh as new brand ambassador                             

• Beverage maker PepsiCo has appointed Bollywood actor Ranveer Singh as its brand ambassador.
• Also the company unveiled a new campaign with the tagline Rise Up Bsaby , targeting younger consumers as it gears up for a prolonged summer that could help lift sales of cold drinks.
• Singh joins Pepsi’s growing league of celebrity endorsers.
• In 2019, the brand roped in actor Salman Khan.
• In recent times, the Pepsi brand also declared KGF-fame Actor Yash to be screened as the brand’s leading face.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Air Force to participate in multinational exercise Cobra Warrior in UK                              

• Indian Air Force (IAF) will take part in multinational exercise Cobra Warrior at the Waddington Air Force Base of the Royal Air Force in the United Kingdom (UK).
• The exercise is scheduled from 6th of March to 24th of March, 2023.

Participants : 

• An IAF contingent consisting of 145 airmen departed from Jamnagar Air Force Station to participate in Exercise Cobra Warrior.
• Five Mirage 2000 fighter aircraft, two C-17 Globemaster and one IL-78 mid-air refueler aircraft of the Indian Air Force, will participate in the exercise.

Objective : 

• To engage in diverse activities of different fighter aircraft and learn from the best practices of different air forces.

About Exercise Cobra Warrior :  

• Exercise Cobra Warrior is a multilateral air military exercise in which the air forces of Finland, Sweden, South Africa, the United States and Singapore are also participating along with the Royal Air Force and the IAF.
• Meanwhile, the IAF informed that the indigenous Light Combat Aircraft (LCA) Tejas will make its debut in a multilateral ‘Exercise Desert Flag’ in the United Arab Emirates.
• The IAF will take part in the exercise with its 5 LCAs and  2 C-17 Globemaster III aircraft
• The exercise is scheduled to begin from February 27 and will continue till March 17, 2023
• Air forces from the UAE, France, Kuwait, Australia, the UK, Bahrain, Morocco, Spain, the Republic of Korea, and the US would be participating in the exercise.

About IAF : 

• Established : 1932
• Headquarters : New Delhi, Delhi, India
• Chief of the Air Staff : Air Chief Marshal Vivek Ram Chaudhari
• Motto : Touch the sky with Glory

About MoD : 

• Defence Minister :  Rajnath Singh
• Minister of State : Ajay Bhatt
• Defence Secretary : Giridhar Aramane

IAF Airlift arranges 3 sorties to airlift stranded passengers from Jammu to Leh and Chandigarh to Thoise in Nubra

• Under the Operation Sadbhavna Programme, Indian Air Force (IAF) has arranged 3 flights to evacuate stranded passengers from Jammu to Leh and Chandigarh to Thoise in Nubra.

Key Highlights : 

• A total of 393 passengers in two sorties were airlifted from Jammu to Leh.
• Similarly, in another sortie, 221 passengers were airlifted from Chandigarh to Nobra.
• The IAF used its IL-76 aircraft for this operation.
• Since air fare has risen up to 70 thousand rupees, the new Lieutenant Governor Brigadier Dr. BD Mishra came to the rescue by arranging the aircraft in collaboration with the IAF.
• With all routes to Ladakh closed due to snowfall, flights are the only means of movement for all from Leh to other parts of the country, with 4 routes of flight operations via Delhi, Chandigarh, Jammu and Srinagar.

Other Operation Programme : 

• Operation Ganga – In 2022, the operation was launched to bring back Indian citizens and students from Ukraine during the Russia-Ukraine conflict.
• Operation Dost – In 2023, India sent a plane of relief supply, equipment and personnel to the earthquake affected Turkey through this operation.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Roscosmos launches Soyuz spacecraft to bring back 3 astronauts stranded on ISS                       

• Russian space agency Roscosmos has successfully launched the Soyuz MS-23 spacecraft to bring back 3 astronauts stranded on the International Space Station (ISS) following a leak in the cooling system in their Soyuz capsule.
• The unmanned Soyuz MS-23 lifted off from Baikonur space centre in Kazakhstan and had been placed in orbit.

Key Highlights : 

• Russian cosmonauts Sergey Prokopyev and Dmitry Petelin and U.S. astronaut Francisco Rubio had been due to end their mission in March.
• According to the Russian space agency Roscosmos, all 3 Soyuz will return to Earth on the MS-23 vehicle in September, 2023.
• The 3 astronauts reached the ISS in Sep, 2022 and their mission was supposed to last for 6 months but it was prolonged because their return vehicle started leaking coolant in December, 2022.
• The leak on the MS-22 spacecraft was caused by a small piece of a micrometeoroid hitting the capsule.
• 430 kilograms of cargo was sent aboard the replacement craft, including medical equipment, scientific instruments, water, food, and cleaning supplies.

About Roscosmos : 

• Established : 25 February 1992
• Headquarters : Moscow, Russia
• Director General : Yury Borisov
• It is a state corporation of the Russian Federation responsible for space flights, cosmonautics programs, and aerospace research.

About ISS : 

• The ISS is the largest modular space station in low Earth orbit.
• The project involves 5 space agencies: the United States’ NASA, Russia’s Roscosmos, Japan’s JAXA, Europe’s ESA, and Canada’s CSA.

Daily CA One- Liner: Mar 2

• The Food Safety and Standards Authority of India (FSSAI) has specified a comprehensive group standard for millets
• As per the response from the Election Commission (EC) through RTI has disclosed that over 60% of India’s 94.5 crore voters in India have linked their Aadhaar number to their voter IDs
• Amazon has announced that it will join the Indian government’s ONDC (Open Network for Digital Commerce) platform
• Foreign direct investment (FDI) into India declined by 15 per cent to USD 36.75 billion during the April-December this fiscal, according to the latest Department for Promotion of Industry and Internal Trade data
• President DroupadiMurmu has presented the Sangeet NatakAkademi awards and fellowships for the years 2019, 2020 and 2021
• Bharat Electronics Ltd (BEL) announced signing Memorandums of Understanding (MoU) with Cisco and the Aeronautical Development Agency (ADA), DRDO
• Kerala entered into an agreement with UN Women, boosting women-friendly activities in the State’s tourism sector by training stakeholders who include young representatives and civil organisations
• Mpower, a mental health initiative from the Aditya Birla Education Trust, is collaborating with NIMHANS (National Institute of Mental Health and Neuro-Sciences) towards expanding the implementation of Tele MANAS mental health support services across India
• The IIT Madras is partnering with the General Insurance Corporation of India (GIC Re) to develop a urine-based tuberculosis diagnosis or screening
• The India Pulses and Grains Association (IPGA) and IBRAFE, Brazil, have signed a MoU at the recently held sixth edition of the Pulses Conclave in Mumbai to establish co-operative actions to contribute to the food security of both countries
• Tata Motors, India’s largest electric passenger vehicle manufacturer, has signed an agreement with ride-hailing company Uber to supply 25,000 electric vehicles (EVs)
• The Pension Fund Regulatory Development Authority (PFRDA) has reduced the timeline for withdrawal from the National Pension System (NPS) subscribers for processing partial withdrawal requests from 4 working days (T+4) to 2 working days (T+2) across all Central Record Keeping Agencies (CRAs).
• IDFC Mutual Fund (MF) is set to launch India’s first international debt fund, the IDFC US Treasury Bond 0-1 Year FOF (fund of funds).
• The Bank of Maharashtra (BoM) announced a strategic partnership with Experian India, In order to strengthen the digital security of the services.
• RBL Bank and Export-Import Bank of India (India Exim Bank), have entered into an agreement under the Trade Assistance Programme (TAP), to support cross-border trade transactions.
• Life Insurance Corporation of India (LIC) has diluted its shareholding in ‘Industrial Investment Trust Limited’(IITL) from 12,25,017 to 7,57,966 Equity Shares decreasing its shareholding from 5.433% to 3.362% of the paid-up capital.
• The government of Bangladesh signed an agreement with the International Solar Alliance (ISA) to increase the use of solar energy in Bangladesh.
• The 31st edition of the New Delhi World Book Fair (NDWBF) is being organised from 25th Feb, 2023 to 5th Mar, 2023 at Pragati Maidan, New Delhi,
• Karnataka Chief Minister Shri Basavaraj Bommai has confirmed the construction of the India’s first Marina which will be constructed at Byndoor in the Udupi district, Karnataka
• Former bureaucrat Mr Shailesh Pathak has been appointed as the new Secretary General of the Federation of Indian Chambers of Commerce & Industry (FICCI) with effect from March 01, 2023.
• Beverage maker PepsiCo has appointed Bollywood actor Ranveer Singh as its brand ambassador.
• Indian Air Force (IAF) will take part in multinational exercise Cobra Warrior at the Waddington Air Force Base of the Royal Air Force in the United Kingdom (UK).
• Under the Operation Sadbhavna Programme, Indian Air Force (IAF) has arranged 3 flights to evacuate stranded passengers from Jammu to Leh and Chandigarh to Thoise in Nubra.
• Russian space agency Roscosmos has successfully launched the Soyuz MS-23 spacecraft to bring back 3 astronauts stranded on the International Space Station (ISS) following a leak in the cooling system in their Soyuz capsule.