Current Affairs – March 23, 2023
National News
MNRE Guidelines for Green Hydrogen Hubs in India:
- The National Green Hydrogen Mission aims to establish green hydrogen hubs with a production capacity of 100,000 MTPA by FY 2025-26.
- MNRE (Ministry of New and Renewable Energy) will provide INR 200 crore in central financial assistance for setting up at least two such hubs.
- These hubs will focus on large-scale production and utilization of hydrogen, with emphasis on developing core infrastructure.
- Guidelines outline the criteria for identifying regions capable of supporting green hydrogen production and utilization.
About MNRE (Ministry of New and Renewable Energy):
- Officeholders: Bhagwanth Khuba (Minister of State), R. K. Singh (Union Minister)
- Founded: 1982
CAG India Signs MoU with IIT Delhi on Artificial Intelligence Collaboration
- The Comptroller and Auditor General (CAG) of India and IIT Delhi signed a Memorandum of Understanding (MoU) on Artificial Intelligence.
- The MoU aims to leverage AI and other emerging technologies to advance audit practices and beyond.
- The exchange occurred between Additional Deputy CAG A. M. Bajaj and IIT Delhi Director Prof. Rangan Banerjee in the presence of CAG Girish Chandra Murmu.
International News
India Announces Rs 10,000 Cr Financial Support to Bhutan Over 5 Years; Enhances Bilateral Cooperation
- Prime Minister Narendra Modi pledges financial aid to Bhutan during his state visit, emphasizing India’s commitment to Bhutan’s development.
- Both countries agree to strengthen cooperation in connectivity, infrastructure, trade, and energy sectors.
- Several MoUs and agreements exchanged, including those on energy, trade, digital connectivity, space, agriculture, and establishment of rail links.
- Foreign Secretary Vinay Mohan Kwatra highlights India’s support to Bhutan’s economic stimulus package as part of the assistance.
- PM Modi meets with Bhutanese King and Prime Minister to discuss enhancing India-Bhutan friendship and deepening developmental partnership.
Bhutan country:
- Capital: Thimphu
- King: Jigme Khesar Namgyel Wangchuck
- Currencies: Bhutanese Ngultrum,
UN General Assembly Adopts First Resolution on Artificial Intelligence
- The resolution aims to garner global support for ensuring that AI benefits all nations, upholds human rights, and prioritizes safety, security, and trustworthiness.
- Sponsored by the United States and co-sponsored by 123 countries, the resolution was adopted unanimously without a vote, signifying support from all 193 UN member nations.
- Months of negotiations involved more than 120 countries, including Russia, China, and Cuba, to finalize the text of the resolution, emphasizing broad international cooperation on AI governance.
UN general assembly:
- Headquarters: New York, New York, United States
- Founded: 1945
Inauguration of Shree Jestha Varna Mahavihar Highlights India-Nepal Development Partnership
- Dhan Bahadur Budha, Nepal’s Minister of Urban Development, and Naveen Srivastava, India’s Ambassador to Nepal, jointly inaugurate the new building of Shree Jestha Varna Mahavihar in Lalitpur.
- The project, funded by the Government of India’s post-earthquake reconstruction grant in Nepal’s cultural heritage sector, aims to rebuild infrastructure damaged during the 2015 Gorkha earthquake.
- Reconstruction of Jestha Varna Mahavihar, at a cost of NPR 13.78 crore, showcases India’s commitment to Nepal’s development and cultural preservation.
- The project, managed by Nepal’s Central Level Project Implementation Unit, underscores the collaborative efforts between the two countries in post-disaster recovery and heritage conservation.
Nepal country:
- Capital: Kathmandu
- President: Ram Chandra Poudel
- Prime minister: Pushpa Kamal Dahal
- Currency: Nepalese Rupee
Banking News
RBI Introduces Omnibus Framework for SROs in Regulated Entities
- The Reserve Bank of India (RBI) has finalized an Omnibus Framework for recognizing Self-Regulatory Organisations (SRO) for its Regulated Entities (RE).
- Each sector of REs, including fintechs, will have separate SROs under this framework.
- The framework aims to establish industry standards for self-regulation in response to the growth in number and scale of REs, adoption of innovative technologies, and enhanced customer outreach.
- It includes parameters such as objectives, responsibilities, eligibility criteria, governance standards, application process, and basic conditions for SRO recognition.
- Sector-specific guidelines, including the number of SROs and membership, will be issued separately by the respective departments of the RBI for each intended sectoral SR
Reserve bank of India:
- Founded: 1 April 1935, Kolkata
- Headquarters: Mumbai
- Governor: Shaktikanta Das
DBS Bank India Commits USD 250 Million Lending Support for Start-ups and New Economy Companies
- DBS Bank India announces a lending commitment of USD 250 million to support new-age start-ups, highlighting its focus on fostering innovation and entrepreneurship.
- The initiative aims to address the ongoing challenge of access to capital for start-ups in India’s dynamic business environment.
- With over 90,000 start-ups and more than 100 unicorns in India as of 2024, the start-up sector is a crucial component of the country’s development goals.
- The lending support is targeted towards enterprises harnessing emerging technologies and poised to redefine industry standards with innovative solutions.
DBS bank:
- CEO: Piyush Gupta (9 Nov 2009–)
- Headquarters: Singapore
- Founder: Government of Singapore
- Founded: 16 July 1968
SBI Card and Titan Introduce ‘Titan SBI Card’
- SBI Card, the largest credit card issuer in India, collaborates with Titan Company Ltd to launch the ‘Titan SBI Card’, tailored to meet consumers’ aspirational spending needs.
- This unique shopping credit card offers cashbacks, Titan gift vouchers, and Reward Points, providing exclusive benefits worth over ₹2,00,000 per annum.
- Cardholders enjoy a 5% cashback on purchases made at Mia, Caratlane, and Zoya stores, both offline and online, using the Titan SBI Card.
- Additionally, shopping at Tanishq entitles cardholders to Titan gift vouchers valued at 3% of their spends.
SBI bank:
- Chairperson: Dinesh Kumar Khara
- Founded: 1 July 1955
- Headquarters: Mumbai
Appointment News
MV Rao Elected Chairman of Indian Banks’ Association (IBA)
- MV Rao, Managing Director and CEO of Central Bank of India, elected as Chairman of IBA.
- Decision made by IBA managing committee on March 21, 2024.
- Dinesh Kumar Khara, Chairman of State Bank of India, to continue as one of the three deputy chairmen.
- SL Jain, MD and CEO of Indian Bank, and N Kamakodi, MD and CEO of City Union Bank, elected as other two deputy chairmen.
IBA:
- The Indian Banks’ Association, formed on, is an unregistered, voluntary association of like-minded banks and individuals in India —a representative body of Indian banks and financial institutions based in Mumbai.
- Founded: 26 September 1946
Award News
PM Modi Receives Bhutan’s Highest Civilian Award, Order of the Druk Gyalpo
- King of Bhutan confers Order of the Druk Gyalpo on Prime Minister Narendra Modi, making him the first foreign leader to receive this honour.
- PM Modi expresses gratitude and emphasizes the significance of the award in strengthening bilateral ties between India and Bhutan.
- The award acknowledges PM Modi’s personal accomplishments, leadership, and contributions to fostering friendship between the two nations
Science and tech News
ISRO Successfully Completes Landing of Reusable Launch Vehicle Pushpak
- ISRO achieves successful landing of Reusable Launch Vehicle Pushpak at Aeronautical Test Range in Challakere, Karnataka.
- Pushpak landed precisely in autonomous mode, demonstrating ISRO’s capabilities in maneuvering, landing, and energy management.
- ISRO Chairman S Somanath congratulates the team for flawless execution, emphasizing the significance of autonomous landing.
- Mission simulates high-speed landing conditions of a space-returning vehicle, validating indigenous technologies in navigation, control systems, landing gear, and deceleration systems.
About ISRO
- Founder: Vikram Sarabhai
- Headquarters: Bengaluru
- Founded: 15 August 1969
Important day
World Water Day 2024: Theme ‘Water for Prosperity and Peace’
- World Water Day, observed annually on March 22nd, highlights the significance of freshwater and addresses pressing water challenges.
- The day aims to raise awareness, promote education, and foster community-driven campaigns to ensure access to clean water and sanitation for all.
- The theme for 2024 is ‘Water for Prosperity and Peace’, emphasizing the role of water in fostering prosperity and maintaining peace globally.
