Daily Current Affairs February 01 2023

CURRENT AFFAIRS : BANKING & FINANCE

SBI raises Rs 9,718 crore in a second tranche of infrastructure bonds at 7.70%   

• The country’s largest lender, State Bank of India (SBI) has raised Rs 9,718 crore through its second infrastructure bond issuance at a coupon rate of 7.70% per annum for the 15-year money.
• The coupon rate of 7.70% represents a spread of 17 basis points over the corresponding government security yield curve (G-Sec curve) provided by the Financial Benchmarks of India Limited.
• Prior to the latest bond sale, SBI had issued 10-year infrastructure bonds worth Rs 10,000 crore at a coupon of 7.51% on December 6, 2022.

Key Highlights :

• The fund proceeds will be utilised for enhancing long-term resources for funding infrastructure and affordable housing.
• The coupon is the interest rate periodically paid out to investors.
• The investors included mutual funds, provident and pension funds and insurance companies.
• This issuance is significant considering this is the first time a domestic bank is issuing a 15-year infrastructure bond, helping it in long-term lending to the infrastructure segment.
• Infrastructure bonds are securities that are exempt from the computation of net demand and time liabilities (NDTL) – a proxy for deposits.
• Hence, they are not subject to cash reserve ratio (CRR) and statutory liquidity ratio (SLR) requirements.

About G-Sec :

• Government Securities, popularly known as G-Sec Bonds, are debt instruments issued by the Central government to meet its fiscal needs.
• The government sells the bonds and uses the funds to pay for daily projects, special infrastructure, or military operations.

About SBI :

• Founded : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara

Nigeria launches domestic card scheme AfriGo to boost the cashless economy

• The Central Bank of Nigeria (CBN) governor Godwin Emefiele launched a domestic card scheme AfriGo to boost the cashless economy & rival foreign cards like Mastercard and Visa.

Aim :

• To enhance its drive to make Africa’s biggest economy a cashless society and save the country foreign transaction fees.

Key Highlights :

• Nigeria was joining China, Russia, India and Turkey with a domestic card scheme.
• AfriGo is owned by CBN and Nigerian banks.
• AfriGo is meant to provide more options for domestic consumers in a “cost-effective and competitive manner”.
• Nigeria, Africa’s biggest economy, has more than 200 million people and the majority still use cash because they live in rural areas where there are no banks.
• To promote “financial inclusion” in remote areas, the CBN announced the launch of a cash swap programme introducing a redesigned version of the local currency, the naira.
• Africa’s first digital currency, the e-naira, was launched in October 2021.

About Nigeria :

• President : Muhammadu Buhari
• Capital : Abuja
• Currency : Naira

RenewBuy launches customised health insurance plan – RenewBuy Health Wellness plan                                     

• RenewBuy has launched its first line of customised health insurance products, the RenewBuy Health Wellness plan with a focus on the large uninsured segment beyond the tier 1 markets.

Aim :

• To bridge that gap and has introduced multiple benefits in pre-hospitalization and Outpatient Department (OPD) treatment with the newly launched product.

About RenewBuy Health Wellness plan :

• The product offers new-age health insurance benefits, available in three variants- Gold Plan, Silver Plan, and Wellness Plan ranging from coverage of 2-5 lakhs.
• Up to 70% lower premium is offered for senior citizens, and up to 50% lower premium is offered for those up to 59 years of age, Maternity cover with a significantly shorter waiting period.
• The plan offers OPD benefits, unlimited doctor on-call consultation, free lab tests, heavy discounts for offline OPD consultation, modern treatment under a very low sum insured, no cap on room rent, along with a range of other benefits ( subject to certain T&C).

About RenewBuy :

• Headquarters : Gurugram, Haryana
• CEO : Balachander Shekhar

CURRENT AFFAIRS: NATIONAL NEWS

Student enrolments went up by 7.5% in 2020-21- All India Survey on Higher Education data:

• The Union Ministry of Education released data from the All India Survey on Higher Education (AISHE), 2020-2021, which showed a 7.5% increase in student enrolments across the country compared to 2019-20, with total student enrolments reaching 4.13 crore.
• The survey also revealed that in 2020-21, the year when the COVID-19 pandemic began, there was a 7% rise in enrolments in distance education programmes.
• The data showed that there were 2 lakhs more SC students who got enrolled in 2020-21 compared to the previous year.
• The year also saw about 3 lakh more ST students and 6 lakh more OBC students getting enrolled for higher education.
• While the increase was noted in absolute numbers compared to 2019-20, the proportion of SC students dropped to 14.2% in 2020-21 from 14.7% the previous year and the proportion of OBC students dropped to 35.8% in 2020-21 from 37% the previous year.
• Further, the proportion of Muslim students enrolling for higher education dropped from 5.5% in 2019-20 to 4.6% in 2020-21 with the proportion of ‘other minority students’ dropping from 2.3% to 2% in the same period.
• The number of students in the Persons with Disabilities category also dropped in 2020-21 to 79,035 from 92,831 the previous year.

Total toll collection through FASTag grows 46 pc to Rs 50,855 crore in 2022: NHAI

• Total toll collection through FASTag on fee plazas, including state highway toll plazas, increased 46 per cent to Rs 50,855 crore in 2022, state-owned NHAI.
• Total toll collection through FASTag on fee plazas, including state highway toll plazas, in 2021 was Rs 34,778 crore.
• The average daily toll collection through FASTag on NH fee plazas in December 2022 was Rs 134.44 crore, and the single day highest collection touched Rs 144.19 crore on December 24, 2022, the National Highways Authority of India (NHAI).
• Similarly, the number of FASTag transactions also witnessed a growth of about 48 per cent year-on-year in 2022.
• The number of FASTag transactions in 2021 and 2022 was 219 crore and 324 crores, respectively, it added.
• A FASTag allows a user to pay the highway fee electronically without having to stop at the toll collection booths set up by the highway operators.
• Since February 16, 2021, the government has made FASTag mandatory for all private as well as commercial vehicles.
• As per the rules, vehicles with no valid or functional FASTag must pay double the toll charge as a penalty.

Chennai hosts first G20 Education Working Group meet:

• Chennai is all set to host the first G20 Education Working Group meeting on February 1 and 2 and as a precursor a seminar on the ‘Role of Digital Technology in Education’ – a unique initiative under India’s Presidency, is held at the IIT Madras Research Park.
• The seminar will set the agenda for further discussions and deliberations for the meeting.
• As many as 75 delegates from G20 members and invited countries and three international organisations are attending.
• The seminar has generated a lot of interest among the G20 member countries with 15 of them having sent inputs highlighting their best practices in the field of digital technology for school, higher education and skill development.
• The seminar also includes other activities such as an audio walkthrough to showcase the history, vision and mission of IIT Madras and a visit to the three Centres of Excellence – the Heritage Center, the Center for Innovation and the Brain Center.
• An exhibition has also been organised on the sidelines of the seminar, displaying key initiatives of the G20 countries, international and various Indian organisations on digital education initiatives and enabling digital technologies.

CURRENT AFFAIRS : INTERNATIONAL NEWS

South Africa to host 15th BRICS summit at Durban in August 2023               

• Russian Foreign Minister Sergei Lavrov & Foreign Minister of the State of Eritrea Osman Saleh announced that the 15th BRICS ( Brazil, Russia, India, China, and South Africa) summit is set to take place in South Africa’s Durban in late August, 2023.
• The foreign ministers of Brazil, Russia, India, and China met for the first time on the sidelines of the United Nations General Assembly (UNGA) in 2006, kicking off BRIC cooperation.
• South Africa participated in the 3rd BRICS summit in China for the first time in April 2011.
• Earlier in 2013, the 5th annual BRICS summit was held in Durban, South Africa.
• Since 2009, the BRICS leaders have convened 14 formal meetings and 9 informal meetings.

Note :

• Chinese President Xi Jinping chaired the 14th BRICS Summit in Beijing, China
• Theme of the 14th BRICS Summit: Foster High-quality BRICS Partnership, Usher in a New Era for Global Development.

About BRICS :

• Established : 2006
• Headquarters : Shanghai, China

About South Africa :

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

G-20 International Financial Architecture Working Group Meeting to be held in Chandigarh                              

• The first International Financial Architecture Working Group meeting of G-20 under the chairmanship of India will be held in Chandigarh on 30-31 January 2023.
• The meeting will be inaugurated by the Union Agriculture and Farmers Welfare Minister Shri Narendra Singh Tomar and Food Processing Industries Minister Shri Pashupati Kumar Paras.

About G-20 International Financial Architecture Working Group Meeting :

• The International Financial Architecture Working Group is one of the important working groups under the G-20 finance track, which focuses on strengthening international financial architecture.
• It will also aim to address various challenges faced by vulnerable countries.
• Around 100 delegates from G-20 member nations, invited countries and international organisations will participate in the two-day meeting.
• Discussions during the two-day meeting will be jointly moderated by the Ministry of Finance (MoF) and the Reserve Bank of India (RBI), as well as by the co-chairs of the International Financial Architecture Working Group, – France and South Korea.
• The meeting will discuss ways to enhance the stability and cohesion of the international financial architecture and how to make it capable of addressing the global challenges of the 21st century.
• It will also focus on finding ways to maximise aid to poor and vulnerable countries.
• On the sidelines of the G-20 Working Group meeting a G-20 event titled ‘Central Bank Digital Currencies (CBDCs): Opportunities and Challenges’ will also be held.
• The first meeting of the G-20 Finance Ministers and Central Bank Governors is scheduled to be held in Bengaluru on 24-25 February 2023.

About Ministry of Agriculture & Farmers Welfare :

• Cabinet Minister : Narendra Singh Tomar
• Minister of State : Shobha Karandlaje, Kailash Choudhary

CURRENT AFFAIRS: STATE NEWS

Jharkhand’s First Survey of Migrants launched for a better understanding of the migrant population

• First Jharkhand Migrant Survey (JMS), a key exercise to draft state-level policy has been launched by Jharkhand for a better understanding of the migrant population, and their numbers.
• The initiative is part of the state’s Safe and Responsible Migration Initiative (SRMI), which was launched in 2021-end and includes the preparation of a database of migrant workers.
• Nearly 5 lakh migrant workers belonging to the state travelled back to Jharkhand during the Covid crisis.
• Earlier, Kerala, Tamil Nadu (TN) and Punjab have also conducted such surveys.

About JMS :

• Jharkhand Migrant Survey (JMS) has been launched as a part of the State’s Safe and Responsible Migration Initiative (SRMI).

Objective :

• To prepare a database of migrant workers, which can be used for formulating government policies.
• In the Survey, 60 enumerators in 24 districts of Jharkhand will collect the details from some 11,000 households.
• The government is aiming to find out the conditions, and factors influencing migration.
• The Survey has a special segment to understand the socio-economic conditions and job preferences of women migrants.
• Policy and Development Advisory Group (PDAG) signed a Memorandum of Understanding (MoU) in October 2021 with the Jharkhand government to set up a technical support unit.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Indian-American Ms Shasti Conrad became the 1st South Asian to be elected for the post of Washington State Democratic Party chair                                                    

• The Washington State Democrats have elected Indian-American political consultant Ms Shasti Conrad as the new chair of the Washington State Democrats at its Reorganisation Meeting and Officer Elections event.
• She is the youngest person as well as the first South Asian and first Indian American woman to serve as a State Democratic Party Chair United States (US).
• Ms Conrad replaced Tina Podlodowski, who served as party chair since 2017.

About Ms Shasti Conrad :

• Conrad has worked on political campaigns since 2008 when she got her start as a field organiser working for then-Senator Obama’s primary campaign.
• She served as Chair of the Martin Luther King, Jr. County Democrats from 2018 to 2022.
• She earned several awards including the prestigious Pollie Award from the American Association of Political Consultants in 2022 for Sen.
• She was named one of the “40 Under 40” by the American Association of Political Consultants and one of the Most Influential People in Seattle Politics by Seattle Met Magazine.

About Washington State Democratic Party :  

• Founded : 1890
• Headquarters : Seattle

Morgan Stanley appoints Mr Arun Kohli as the new country head for India                                                

• Morgan Stanley has named Mr Arun Kohli as its new country head for India.
• Mr Kohli will be replacing Mr Sanjay Shah, a veteran of 26 years at the firm, who is retiring.

About Mr Arun Kohli :

• Mr Kohli, based in London, has been associated with Morgan Stanley for the past 15 years.
• He headed the bank’s post-Brexit strategy.
• Presently, he is serving as Morgan Stanley’s managing director (MD) and chief operating officer (COO) for Europe, the Middle East, and Africa (EMEA) regions.

About Morgan Stanley :

• The Wall Street bank has been operating in India for the past 29 years, and has been discharging services such as investment banking, fixed income, commodities and derivative products.

CURRENT AFFAIRS: AWARDS AND HONOURS

The Padma award is an honour for the Etikoppaka toy craft:

• The Union government choosing to confer Padma Shri on him in the art category is an honour to the Etikoppaka wooden toy craft, and it will go a long way in promoting the art, says C.V. Raju.
• Raju is among the seven persons from Andhra Pradesh who have been selected for the Padma awards announced by the Union Home Ministry.
• An agriculturist-turned-craftsman, Raju has his origins in Etikoppaka, a traditional craftsman village in the Visakhapatnam district in coastal Andhra Pradesh.
• He is involved in promoting the toy craft and usage of natural dyes for the past few decades.
• Etikoppaka is ideal as it is very close to the Eastern Ghats, where the local resources and material, natural colour substances, and the ‘Ankudu’ trees, from which the wood to make the toys is obtained, are available

CURRENT AFFAIRS: SPORTS NEWS

Hockey World Cup: Germany lifts title, Netherlands finishes 3^rd

• Germany beat Belgium 5-4 in the penalty shootout to win the FIH Men’s Hockey World Cup 2023 at the Kalinga Stadium in Bhubaneswar, India.
• The scores were level at the end of regulation time at 3-3 with Florent Van Aubel (10’), Tanguy Cosyns (11’) and Tom Boon (59’) getting on the scoresheet for Belgium. Player of the match Niklas Wellen (29’), Gonzalo Peillat (41’) and Mats Grambusch (48’) netted for Germany.
• Jean-Paul Danneberg proved to be the hero for Germany as the goalkeeper made three saves in the penalty shootout.
• Belgian goalkeeper Vincent Vanasch made two saves to keep his team in contention but Germany kept their composure to clinch the title in the sudden death.
• Courtesy of the win, Germany became the fourth team to have won three or more hockey World Cup titles.
• Pakistan, the most successful team at the hockey World Cup, has won the title four times.
• The Netherlands and Australia are the other two teams to have won three titles each.
• Germany looked more likely to open the scoring with two penalty corners in the first five minutes of regulation time. Belgium, with one of the most seasoned squads in the tournament, used their experience to cut the angles and quickly cleared the ball.
• In the penalty shootout, Belgium did their best to erase Germany’s two-goal advantage but the latter held their nerves to win the World Cup 5-4 in the sudden death.
• Earlier in the day, the Netherlands beat Australia 3-1 to claim the bronze medal.
• It was the first time since 1998 that Australia failed to finish on the podium at the FIH World Cup.

Australian Open: Sania Mirza ends her Grand Slam

• India’s tennis ace Sania Mirza signed off her career with six Grand Slam titles after failing to win the Australian Open mixed doubles trophy with compatriot Rohan Bopanna at the Rod Laver Arna in Melbourne.
• Bopanna and Sania lost 6-7(2) 2-6 to the Brazilian pair of Luisa Stefani and Rafael Mataos in the title clash.
• Coming into her final Major tournament, Sania had six Grand Slam titles – three women’s doubles and as many mixed doubles – in her cabinet.
• The 42-year-old Bopanna has one French Open mixed doubles title to his credit.

Jonatan Christie and An Se Young win Indonesia Masters titles

• Jonatan Christie claimed his first title in 10 months at the 2023 Indonesia Masters
• In an all-Indonesian final, he defeated Chico Aura Dwi Wardoyo 21-15, 21-13 in 44 minutes for his maiden BWF Badminton Tour title on home soil inside Jakarta’s Gelora Bung Karno Sports Palace.
• Christie’s last BWF Tour title came at the Swiss Open in March 2022.
• The fourth seed led 11-9 at the break and won a spectacular 51-shot rally to go 17-15 ahead.
• And Christie reeled off the next four points in succession to take the opening game.
• Dwi Wardoyo went into a 7-5 lead in game two, but his opponent regained control to take an 11-8 advantage into the interval.
• The 25-year-old had won Asian Games gold in this arena, beating Chou Tien-chen in the final.
• An Se Young of the Republic of Korea defeated Carolina Marin 18-21, 21-18, 21-13 to claim her second singles title of the season.
• After trailing at the start, Rio 2016 Olympic champion Marin managed to take an 11-10 lead into the first break.
• The 20-year-old from Gwangju went on the attack, but the Spanish left-hander showed solid defence to extend her lead and take the opening game.
• It was the second consecutive title triumph for the 2022 world bronze medallist who defeated world champion Yamaguchi Akane to take the India Open title last weekend.
• An has now won 14 of her 15 matches this season with her only defeat coming against Yamaguchi in the Malaysia Open final.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India’s first mission to study the sun Aditya-L1 is to be launched by June-July 2023

• For the first time in the history of India, the Indian Space Research Organisation (ISRO) is set to launch a scientific mission to study the sun – Aditya-L1 mission in June or July, 2023.
• Aditya L1 is India’s first space-based mission to observe the Sun and the solar corona.

Aim :

• To study the sun from a halo orbit around the Sun-Earth system’s Lagrangian point 1 (L 1).
• Scientists at the Indian Institute of Astrophysics (IIA), Bengaluru have spent over 15 years building and assembling nearly 40 different optical elements in a

About Aditya L1 mission :

• Aditya (Sanskrit means Sun) is a planned coronagraphy spacecraft to study the solar atmosphere (solar corona – outermost part).
• Aditya L1 will be launched using the Polar Satellite Launch Vehicle (PSLV) with 7 payloads (instruments) on board.

The 7 payloads include:

1. Visible Line Emission Coronagraph (VELC)
2. Solar Ultraviolet Imaging Telescope (SUIT)
3. Solar Low Energy X-ray Spectrometer (SoLEXS)
4. Aditya Solar wind Particle Experiment (ASPEX)
5. High Energy L1 Orbiting X-ray Spectrometer (HEL1OS)
6. Plasma Analyser Package for Aditya (PAPA)
7. Advanced Triaxial High Resolution Digital Magnetometers

• It will be placed in an orbit around the Lagrange (L1) point (L1 is about 1.5 million kms from Earth) between Earth and the sun.
• Aditya-1, was intended to be put into an 800 km low-Earth orbit (LEO) as a 400-kg class satellite but it was later decided that the satellite will be placed in a halo orbit around the Sun-Earth system’s first Lagrangian Point (L1).

Key Highlights :

• Recently, ISRO received the VELC, which is the primary payload on board Aditya-L1, from the Indian Institute of Astrophysics (IIA).
• VELC is the first scientific mission of India for studying the sun and will be launched by June or July, 2023.
• The ceremony to hand over VELC took place at the IIA’s Centre for Research and Education in Science and Technology (CREST) campus in the presence of the ISRO Chairman Mr S Somanath.

What is L 1?

• L1 refers to Lagrangian/Lagrange Point 1, one of 5 points in the orbital plane of the Earth-Sun system.
• Lagrange Points are positions in space where the gravitational forces of a two body system like the Sun and the Earth produce enhanced regions of attraction and repulsion.
• Lagrange points are named in honour of Italian-French mathematician Joseph-Louis Lagrange.

CURRENT AFFAIRS: IMPORTANT DAYS

Indian Coast Guard Day 2023: 1^st February

• The ICG Day or Indian Coast Guard Day is celebrated on 01st February every year.
• The Indian Coast Guard is a multi-mission organization, conducting round-the-year real-life operations at sea
• The Indian Coast Guard Day is established on 01st February 1977.
• This year Indian Coast Guard celebrates its 45th Raising Day on 01st February 2023.
• The Indian Coast Guard was initially established on 1 February 1977 due to an emergency.
• The interim of the Indian Coast Guard was created in 1977 to prevent the smuggling of goods on the Sea.
• The Nagchaudhuri Committee was formed with participation from the Indian Navy and the Indian Air Force to analyze the problem.
• Till then, the Indian navy was involved in anti-smuggling activities.
• The committee members come up with a solution to the need for the patrol to watch the activities performed on the coast.
• They set up a registry of offshore fishing vessels to identify illegal activity and establish a capable and well-equipped force to intercept vessels engaged in illegal activities.
• On the 18th of August,1978 the Indian Coast Guard was established officially and was declared by the Parliament of India by the Coast Guard Act, 1978.

Daily CA on February 1^st

• The country’s largest lender,State Bank of India (SBI) has raised Rs 9,718 crore through its second infrastructure bond issuance at a coupon rate of 7.70% per annum for the 15-year money.
• The Central Bank of Nigeria (CBN) governor Godwin Emefiele launched a domestic card scheme AfriGo to boost the cashless economy & rival foreign cards like Mastercard and Visa.
• RenewBuy has launched its first line of customised health insurance products, the RenewBuy Health Wellness plan with a focus on the large uninsured segment beyond the tier 1 markets.
• Russian Foreign Minister Sergei Lavrov & Foreign Minister of the State of Eritrea Osman Saleh announced that the 15th BRICS ( Brazil, Russia, India, China, and South Africa) summit is set to take place in South Africa’s Durban in late August, 2023.
• The first International Financial Architecture Working Group meeting of G-20 under the chairmanship of India will be held in Chandigarh on 30-31 January 2023.
• First Jharkhand Migrant Survey (JMS), a key exercise to draft state-level policy has been launched by Jharkhand for a better understanding of the migrant population, and their numbers.
• The Washington State Democrats have elected Indian-American political consultant Ms Shasti Conrad as the new chair of the Washington State Democrats at its Reorganisation Meeting and Officer Elections event.
• Morgan Stanley has named Mr Arun Kohli as its new country head for India & he will be replacing Mr Sanjay Shah, a veteran of 26 years at the firm, who is retiring.
• For the first time in the history of India, the Indian Space Research Organisation (ISRO) is set to launch a scientific mission to study the sun – Aditya-L1 mission in June or July, 2023.
• The Union Ministry of Education released data from the All India Survey on Higher Education (AISHE), 2020-2021, which showed a 7.5% increase in student enrolments across the country compared to 2019-20, with total student enrolments reaching 4.13 crore.
• Total toll collection through FASTag on fee plazas, including state highway toll plazas, increased 46 per cent to Rs 50,855 crore in 2022, state-owned NHAI.
• Chennai is all set to host the first G20 Education Working Group meeting on February 1 and 2 and as a precursor a seminar on the ‘Role of Digital Technology in Education’ – a unique initiative under India’s Presidency, is held at the IIT Madras Research Park.
• The Union government choosing to confer Padma Shri on him in the art category is an honour to the Etikoppaka wooden toy craft, and it will go a long way in promoting the art.
• Germany beat Belgium 5-4 in the penalty shootout to win the FIH Men’s Hockey World Cup 2023 at the Kalinga Stadium in Bhubaneswar, India.
• India’s tennis ace Sania Mirza signed off her career with six Grand Slam titles after failing to win the Australian Open mixed doubles trophy with compatriot Rohan Bopanna at the Rod Laver Arna in Melbourne.
• In an all-Indonesian final, he defeated Chico Aura Dwi Wardoyo 21-15, 21-13 in 44 minutes for his maiden BWF Badminton Tour title on home soil inside Jakarta’s Gelora Bung Karno Sports Palace.
• The ICG Day or Indian Coast Guard Day is celebrated on 01st February every year.