Daily Current Affairs January 14 2023

 

CURRENT AFFAIRS: NATIONAL NEWS

Union Minister Shri Sarbananda Sonowal inaugurates School of Logistics, Waterways and Communication in Agartala:

• The Union Minister of Ports, Shipping & Waterways and Ayush, Shri Sarbananda Sonowal, along with Dr Manik Saha, Chief Minister, Tripura inaugurated the School of Logistics, Waterways and Communication.
• The school will enable the rich pool of talent of the region to become world-class experts in the transportation and logistics sector.
• To unlock the promised economic potential of the Northeast, the school will enable the capacity of human resources along our opulent waterways
• The Centre for Logistics, Communication and Waterways would facilitate in conducting studies/research, training, workshops/seminars for stakeholders like businesses, exporters/importers, Chambers of Commerce and Industries, local entrepreneurs, tourist operators etc.
• It has been set up under the State Institute of Public Administration and Rural Development (SIPARD).
• SIPARD is an autonomous body funded by the Government of Tripura and partially by the Ministry of Rural Development, Government of India.
• The two countries have renewed and strengthened the Indo-Bangladesh Protocol on Inland Water Transit and Trade which outlines new measures to facilitate the inland water trade, develop infrastructure and improve cross-country transport and logistics facilities.
• In addition to the existing 6 ports of call, five additional ports of call and two extended ports of call on each side have been agreed upon along with a longer period of 5 years (against the 2-year validity earlier) for protocol renewal.
• The Government of India is providing financial assistance under the Central Sector Scheme for the development of Inland Waterway in the Northeast including Tripura.

Grand cultural event Sur Sarita-Symphony of Ganga to be held in Varanasi:

• The world’s longest river cruise MV Ganga Vilas will be flagged off by Prime Minister Narendra Modi in Varanasi.
• In the coming 50 days, this luxury cruise will not only bring to the world India’s potential for cruise tourism for India but will also showcase India’s natural beauty, cultural heritage, and spiritual splendour.
• Ministry of Culture will organize a grand curtain raiser cultural program ‘Sur Sarita – Symphony of Ganga’ on the launch of the world’s longest river cruise in Varanasi.
• Ganga Vilas Cruise will cross Uttar Pradesh, Bihar, Bangladesh, and Assam in a journey of 51 days.
• Keeping this in mind, songs have been chosen from different states, and folk musicians from Assam, Bihar, and Bengal will join Shankar Mahadevan to pay homage to the rivers Ganga, Yamuna, and Brahmaputra.
• The show, of about an hour, will end with Shankar Mahadevan’s rendition of ‘Kartavya Ganga’ which promises the river goddess that every Indian will always take care of her.

In a first, India among the top five ECM markets globally in 2022:

• India was among the top five markets, globally, in terms of equity fundraising despite the quantum of funds raised declining by 43 per cent.
• According to a report by Kotak Investment Banking, funds to the tune of $16.4 billion were transacted via equity capital market (ECM) activity in India in 2022.
• Traditionally, India has rarely featured in the top 10 in terms of ECM activity.
• Interestingly, in 2022, India also broke into the top-five league in terms of market capitalisation.
• India’s outperformance comes on the back of a sharper decline in ECM activity in major markets such as the United Kingdom, Australia and Japan.
• ECM activity globally took a hit on account of heightened volatility amid rising interest rates.
• Ramesh, managing director & chief executive officer, of Kotak Investment Banking, said Indian markets have become stronger as far as ECM activity is concerned, underpinned by encouraging participation by domestic investors.
• The investment bank expects fundraising by way of initial public offerings to jump 30 per cent this year, led by sectors such as pharmaceutical and healthcare.

Fishing in troubled seas	Fundraising landscape remained challenging last year
–	Funds raised ($ bn)	YoY Change (%)
China	164.6	-38
United States	73.4	-85
Germany	20.9	-28
Canada	19.4	-56
India	16.4	-43
United Kingdom	13.9	-78
Australia	11.3	-63

CURRENT AFFAIRS : STATE NEWS

BSE signs MoU with Goa govt to promote the development of SMEs

• Leading stock exchange Bombay Stock Exchange (BSE) has joined hands with the government of Goa for the development of SMEs (Small and Medium Enterprises) in

Key Highlights :

• With the association of the Goa government, the exchange will look at creating awareness amongst SMEs in the state on the benefits of listing on the exchange.
• BSE will also guide them on the efficient ways of raising capital through equity infusion.
• The exchange will also provide training and capacity-building support to District Industries Centre officials and facilitate SMEs concerning registration/listing on the platform.
• The Partnership will play a significant role in opening a plethora of opportunities for small-medium enterprises.

About BSE :

• Founded : 9 July 1875
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sundararaman Ramamurthy

About Goa :

• Governor : P. S. Sreedharan Pillai
• Chief Minister : Pramod Sawant
• Capital : Panaji (Panjim)
• Airport : Goa International Airport

TN CM launches a platform for global Tamil investors

• Tamil Nadu (TN) Chief Minister (CM) Shri MK Stalin launched the Global Tamil Angels platform (www.tamilangels.fund) for investors from the global Tamil diaspora to make investments in TN’s start-ups.
• The platform was launched at the “Global Startup Investors Summit,” jointly organised by the Tamil Nadu Startup and Innovation Mission and FeTNA International Tamil Entrepreneur Network in Chennai, Tamil Nadu (TN).

About the Platform :

• The platform will connect the Tamil Nadu-based start-ups with the global Tamil angel investors, will offer legal consultation for investing and help take products to the global markets.
• During the event, a multi-crore American Tamil Fund by investors from the TN Diaspora in the U.S. to make investments in Tamil Nadu-based start-ups was announced.
• The investors presented an intent to invest $2 million (about ₹5 crores) by December 2023 to MSME Minister T.M. Anbarasan.
• Stalin highlighted various initiatives taken by his government, including the ₹1,000-crore Green Climate Fund.

About Tamil Nadu :

• Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park : Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park
• Wildlife Sanctuaries : Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird Sanctuary
• Tiger Reserve : Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

West Bengal CM Mamata Banerjee launches vehicle location control centre & mobile app to enhance security for women

• West Bengal (WB) chief minister (CM) Mamata Banerjee inaugurated a new vehicle location control centre and mobile app, as part of efforts to enhance security for women in WB.
• These would help the police track movement of vehicles, as well as keep a tab on crimes on women inside moving cars.
• Also, there will be one panic button in each vehicle, pressing which will alert the police

About West Bengal :

• Governor : C. V. Ananda Bose
• Chief minister: Mamata Banerjee
• Capital: Kolkata
• National Park : Sundarban National Park, Jaldapara National Park, Singalila National Park.
• Tiger Reserve : Buxa Tiger Reserve
• Wildlife Sanctuary : Lothian Island Wildlife Sanctuary, Sajnekhali Wildlife Sanctuary

CURRENT AFFAIRS : BANKING & FINANCE

NABARD raises Rs 5,000 crore through 3-year bonds

• The National Bank for Agriculture and Rural Development (NABARD) has raised around Rs 5,000 crore via 3-year bonds, in the first issue of fundraising through bonds in 2023.
• The coupon for the 3-year bond was 7.63%.
• The yield on government bonds with similar maturity was above 7.16%.

Key Highlights :

• The issue by NABARD had a base size of Rs 2,000 crore plus a green-shoe option of Rs 3,000 crore.
• Meanwhile, Rural Electrification Corporation (REC) is likely to raise to Rs 3,000 crore through a 10-year paper (maturing in January 2033).
• The base size is Rs 500 crore with a green-shoe option of Rs 2,500 crore.
• REC is also looking at issuing medium-term paper (about 41-42 months) to raise to Rs 3,000 crore from the market.
• At present, corporations are not able to file papers for bond offerings with the ministry of corporate affairs due to technical work underway at portals.

About NABARD :

• Founded : 12 July 1982
• Headquarters : Mumbai, Maharashtra, India
• It was established on the recommendations of Sivaraman Committee (by Act 61, 1981 of Parliament).
• The NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex cooperative banks in India.
• It is under the jurisdiction of the Ministry of Finance,

SEBI extends trading hours in case of an outage at stock exchanges

• Market regulator Securities and Exchange Board of India (SEBI) has issued a standard of procedures (SOP) for the handling of stock exchange outages and extension of trading hours due to the outage.

What is a Stock Exchange outage?

• Stock Exchange Outage means stoppage of continuous trading, either suo-moto by exchange or by reasons beyond the control of the stock exchange.
• Further, stoppage of continuous trading shall not include a trading halt on account of the index-based market-wide circuit breaker.

Timeline for the necessary communications :

• Communication of such outages by exchanges to be made within 15 mins to all market participants.
• According to the SEBI’s circular, if the affected stock exchange resumes to normalcy at least one hour (excluding 15 minutes of the pre-opening session, if applicable) before the normally scheduled market closure then trading hours on that day will remain unchanged.
• Besides, the exchange will have to inform Sebi through a dedicated email.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 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.

HDFC Capital achieves $376-mn initial close for scheme 2 of H-CARE 3

• HDFC Capital, a subsidiary of HDFC Ltd has achieved the initial close of $376 million for Scheme 2 of HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3) to provide long-term, flexible funding across the lifecycle of affordable and mid-income housing projects including early-stage funding

Key Highlights :

• H-CARE 3 Scheme 1 & 2 and HDFC Capital Affordable Real Estate Funds – 1 & 2 have created a US$3.1 billion funding platform, rated as one of the world’s largest private finance platforms focused on developing affordable housing.
• The company’s primary investor in H-CARE 3 Schemes 1 & 2 is a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
• H-CARE 3 will provide long-term, flexible funding across the lifecycle of affordable and mid-income housing projects including early-stage funding.
• It will also invest in technology companies (construction technology, fin-tech, sustainability-tech, etc) engaged in the affordable housing ecosystem.

South Indian Bank launches MSME online portal

• The South Indian Bank (SIB) launched a Micro Small & Medium Enterprise (MSME) online portal providing instant online ‘In Principle’ approval of up to ₹1 crore.
• MSME enterprises are the most important pillars of the Indian economy and the govt. is also working towards making the sector stronger.
• This development is against the backdrop of the central government considering making India a 5 trillion economy
• SIB is facilitating MSME’s to get instant funds.
• This initiative will help thousands of micro and small businesses to take quick disbursals.

About SIB :

• Founded : 1928
• Headquarters : Thrissur, Kerala, India
• MD & CEO : Murali Ramakrishnan
• Tagline : Experience Next-Generation Banking

CURRENT AFFAIRS: BUSINESS NEWS

Inflation cools to a one-year low of 5.7% in December:

• Retail inflation moderated to a one-year low in December led by food prices, while industrial output growth rebounded to a 5-month high in November due to a base effect and robust expansion across sectors including manufacturing.
• Data released by the National Statistical Office (NSO) showed inflation, as measured by the consumer price index, rose an annual 5. 7% in December, slower than the 5. 9% in November.
• Retail inflation in December 2021 was at 5. 7% too.
• The data showed food inflation in December was 4. 2%, lower than the 4. 7% in November.
• Rural inflation was higher at 6. 1%, while urban was at 5. 4%.
• This is the second consecutive month when retail inflation has remained below the 6% mark which may provide some headroom for the RBI to pause its rate-hiking cycle.
• Vegetable prices fell 15. 1% while oils & fats, which had emerged as a major pain point in the past, rose 0. 5% in December after supply chains improved.
• The manufacturing sector rose a robust 6. 1% in November, higher than the 0. 3 in the year-ago month.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

RS Sodhi steps down as Amul MD; Jayen Mehta given interim charge

• R S Sodhi, managing director (MD) of Gujarat Cooperative Milk Marketing Federation (GCMMF), the owner of India’s biggest dairy brand Amul, has stepped down from his post.
• Present Chief Operating Officer (COO) of the Federation Jayen Mehta has been given the charge temporarily.

About R S Sodhi :

• Sodhi had been the Managing Director (MD) at Amul since June 2010.
• Under his leadership, GCMMF’s turnover surged from Rs 9,774.2 crore in 2010-11 to Rs 46,481 crore in 2021-22.
• For more than three decades, he worked under the direct guidance of Verghese Kurien, the father of the White Revolution.
• He is also the President of the Indian Dairy Association.

About GCMMF :

• Established : 1973
• Headquarters : Anand, Gujarat
• Chairman : Shamalbhai B Patel
• GCMMF procures 30 million litres of milk per day from over 18,600 village dairy co-operative societies.

IAS officer Santhi Kumari becomes first woman Chief Secretary of Telangana

• Telangana Chief Minister Shri K Chandrashekar Rao appointed senior Indian Administrative Service (IAS) officer Santhi Kumari as the first woman Chief Secretary of Telangana.
• The order was given a day after the Department of Personnel and Training (DoPT) relieved Somesh Kumar from the post.
• Santhi Kumari as the 6th Chief Secretary of the Telangana.
• She will be in service till April 2025.

About Santhi Kumari :

• Santhi Kumari hails from Andhra Pradesh.
• She served at the United Nations Development Programme (UNDP) for two years overseeing financial inclusion.
• She worked in the Chief Minister’s Office for 4 years as Principal Secretary to the CM and headed the ‘Industry Chasing Cell’, which is mandated to implement single window industrial clearances under TS-iPASS
• Before she was appointed Chief Secretary, she held the post of Special Chief Secretary, Forest.

About Telangana :

• Governor : Tamilisai Soundararajan
• Chief Minister : K. Chandrashekar Rao
• Capital : Hyderabad

Herbalife Nutrition ropes in India’s star cricketer Smriti Mandhana as Nutrition Sports athlete Sponsor

• Premier global nutrition company,Herbalife Nutrition India Private Limited (Herbalife Nutrition Ltd) is partnering with international women’s cricketer, Smriti Mandhana as a ‘nutrition sponsor’.
• She is the 5th Indian athlete and the 2nd cricketer to join the Herbalife family.
• Smriti Mandhana follows in the footsteps of fellow Indian sporting legends, Virat Kohli, Mary Kom, Lakshya Sen, and Manika Batra.

About Smriti Mandhana :

• Currently, she is the Vice-Captain of the India Women’s National Cricket Team.
• Smriti Mandhana’s performance on the field made her the first Indian women cricketer to be recognized as the ICC Women’s ODI Cricketer of the Year in 2018.
• She won BCCI’s MA Chidambaram Trophy for best woman cricketer for the year 2013-14.
• She was also the only Indian player to be named in the ICC Women’s Team of the Year 2016.
• She was honoured with the prestigious Arjuna Award in

About Herbalife Nutrition :

• Founded : February 1980
• Headquarters : Los Angeles, California
• Chairman & CEO : Michael O. Johnson

CURRENT AFFAIRS: MOUS AND AGREEMENT

Madhya Pradesh Tourism Board signs MoUs with chapters of eight countries of GOPIO:

• Madhya Pradesh Tourism Board signed MoUs with chapters of eight countries of the Global Organisation of People of Indian Origin (GOPIO) at the MP Tourism Pavilion of Brilliant Convention Centre in Indore at the 17th Pravasi Bhartiya Divas Convention.
• These MoUs were signed with France Metropole Paris, Mauritius, Reunion Island, Martinique, Sri Lanka, GOPIO International, Malaysia, and Mauritius.
• The MoUs were signed by Principal Secretary Tourism and Culture and Managing Director Tourism Board Shri Sheo Shekhar Shukla on behalf of the Tourism Board and presidents of eight countries of GOPIO.
• Principal Secretary Shri Shukla said that these MoUs have been executed to boost cooperation in the development of the Tourism sector of the State, and promotion, and publicity of tourist places

CURRENT AFFAIRS: SPORTS NEWS

Ashleigh Gardner And Harry Brook Win ICC Players of The Month Award For December:

• Australia allrounder Ashleigh Gardner and England’s Harry Brook have won the ICC Player of the Month Awards for December following their sparkling show at the international level.
• While Gardner produced an excellent all-around show during a bilateral T20I series against India, Brook continued his rise with an eye-catching show in the Pakistan Test series.
• Gardner scored 115 runs at an impressive strike rate of 166.66 and also took seven wickets during a 4-1 T20I series win over India.
• The allrounder saved her best for the fifth and final contest as she struck an unbeaten 66 before taking two wickets in a 54-run win.
• On the other hand, Brook had a remarkable series in Pakistan as he peeled off three centuries in as many Tests to help England complete a historic 3-0 clean sweep.
• The rising England star started the tour in Rawalpindi in emphatic fashion, hitting 19 fours and five sixes on his way to a blistering 153 in the first innings and then followed that with a quickfire 87.
• In Multan, he scored 108 and 111 in Karachi.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Dhoni releases autobiography of Prof. K.K. Abdul Gaffar:

• Techno-educationalist, Professor K.K. Abdul Gaffar’s autobiography, ‘Njaan Sakshi’ (me as the witness), was released by cricket legend Mahendra Singh Dhoni at a grand function organised in Kasaragod
• Iconic cricketer M.S.Dhoni said that he has always been a big fan of teachers, as he released the autobiography of techno-educationalist, Prof K. K. Abdul Gaffar’s ‘Njaan Sakshi'(me as the witness) that reveals many interesting details.
• Marwan Al Mullah, the CEO of Dubai health authority (DHA), received the first copy from Dhoni.
• Kerala Governor Arif Mohammed Khan, in a video message said that Prof Gaffar’s autobiography highlights his life, knowledge, and dedication.

About the book:

• Incidentally, the book includes the infamous disappearance of P. Rajan, an engineering student from Kozhikode REC, during the emergency period and recalls the pressure put on him on behalf of the government and the police to influence him as a witness in the case.
• He was the last person who saw Rajan before the latter was taken into custody by the police from the REC hostel on March 1, 1976.
• According to Prof Gaffar, he had met Rajan and his friends at his place as they were coming back after winning the university youth festival.
• His emotional account of Rajan waving at him as he walks into the night is one of the most heart-warming passages of the book.
• The book has a lot of such details about the case, both known and unknown to Kerala society.
• His emotional account of Rajan waving at him as he walks into the night is one of the most heart-warming passages of the book.

Tamal Bandyopadhyay’s book “Roller Coaster: An Affair with Banking.”

• Tamal Bandyopadhyay, a veteran journalist, has published “Roller Coaster: An Affair with Banking” through Jaico Publishing House.
• The book gets into the stories and insights of the Indian banking business as seen by a writer who has covered the industry for over 25 years.
• Tamal has seen the industry and its main players grow from a rookie reporter to an editor, a columnist, and now an author.
• “Roller Coaster” is not only about India’s commercial and central bankers’ victories and struggles, but also about their personalities, leadership styles, and how they have created the culture and ideals of the Indian banking sector.

Daily CA on January 14:

• The Union Minister of Ports, Shipping & Waterways and Ayush, Shri Sarbananda Sonowal, along with Dr Manik Saha, Chief Minister, Tripura inaugurated the School of Logistics, Waterways and Communication.
• The world’s longest river cruise MV Ganga Vilas will be flagged off by Prime Minister Narendra Modi in Varanasi.
• India was among the top five markets, globally, in terms of equity fundraising despite the quantum of funds raised declining by 43 per cent.
• Retail inflation moderated to a one-year low in December led by food prices, while industrial output growth rebounded to a 5-month high in November due to a base effect and robust expansion across sectors including manufacturing.
• Madhya Pradesh Tourism Board signed MoUs with chapters of eight countries of the Global Organisation of People of Indian Origin (GOPIO) at the MP Tourism Pavilion of Brilliant Convention Centre in Indore at the 17th Pravasi Bhartiya Divas Convention.
• Australia allrounder Ashleigh Gardner and England’s Harry Brook have won the ICC Player of the Month Awards for December following their sparkling show at the international level.
• Techno-educationalist, Professor K.K. Abdul Gaffar’s autobiography, ‘Njaan Sakshi’ (me as the witness), was released by cricket legend Mahendra Singh Dhoni at a grand function organised in Kasaragod
• Tamal Bandyopadhyay, a veteran journalist, has published “Roller Coaster: An Affair with Banking” through Jaico Publishing House.

• Leading stock exchange Bombay Stock Exchange (BSE) has joined hands with the government of Goa for the development of SMEs (Small and Medium Enterprises) in Goa.
• Tamil Nadu (TN) Chief Minister (CM) Shri MK Stalin launched the Global Tamil Angels platform (www.tamilangels.fund) for investors from the global Tamil diaspora to make investments in TN’s start-ups.
• West Bengal (WB) chief minister (CM) Mamata Banerjee inaugurated a new vehicle location control centre and mobile app, as part of efforts to enhance security for women in WB.
• The National Bank for Agriculture and Rural Development (NABARD) has raised around Rs 5,000 crore via 3-year bonds, in the first issue of fundraising through bonds in 2023.
• Market regulator Securities and Exchange Board of India (SEBI) has issued a standard of procedures (SOP) for the handling of stock exchange outages and extension of trading hours due to the outage.
• HDFC Capital, a subsidiary of HDFC Ltd has achieved the initial close of $376 million for Scheme 2 of HDFC Capital Affordable Real Estate Fund – 3 (H-CARE 3) to provide long-term, flexible funding across the lifecycle of affordable and mid-income housing projects including early-stage funding
• The South Indian Bank (SIB) launched a Micro Small & Medium Enterprise (MSME) online portal providing instant online ‘In Principle’ approval of up to ₹1 crore.
• R S Sodhi, managing director (MD) of Gujarat Cooperative Milk Marketing Federation (GCMMF), the owner of India’s biggest dairy brand Amul, has stepped down from his post.
• Telangana Chief Minister Shri K Chandrashekar Rao appointed senior Indian Administrative Service (IAS) officer Santhi Kumari as the first woman Chief Secretary of Telangana.
• Premier global nutrition company,Herbalife Nutrition India Private Limited (Herbalife Nutrition Ltd) is partnering with international women’s cricketer, Smriti Mandhana as a ‘nutrition sponsor’.