Excellence by Saikat Sir: Daily Current Affairs February 08 2023

Daily Current Affairs February 08 2023

CURRENT AFFAIRS : BANKING & FINANCE

Number of payment acceptance devices under PIDF expands to 1.87 crore as of Dec 2022

As per the Reserve Bank of India’s (RBI’s) latest status update number of payment acceptance devices, including physical and digital, deployed under the Payments Infrastructure Development Fund (PIDF) Scheme as on December 31, 2022, stood at about 1.87 crore.
The number of physical devices (PoS, mPoS (mobile PoS), GPRS (General Packet Radio Service), PSTN (Public Switched Telephone Network), etc) and digital devices (inter-operable QR code-based payments such as UPI QR, Bharat QR, etc.) stood at 4,85,415 (2,45,942 as at September-end 2021) and 1,82,88,974 (55,36,678), respectively.

About PIDF Scheme :

The PIDF Scheme, operationalised by the RBI from January 1, 2021, subsidises the deployment of Points of Sale (PoS) infrastructure (physical and digital modes) in tier-3 to tier-6 centres and northeastern states of the country.
From August 26, 2021, beneficiaries of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi Scheme) in Tier-1 and Tier-2 centres are also covered.
Further, J & K and Ladakh regions are included as special focus areas from June 9, 2022.
The PIDF corpus stood at ₹788.20 crore as on December 31, 2022 (₹613.89 crore in November 2021).
Contribution to PIDF is made by the RBI, authorised card networks and card issuing banks.

Bajaj Allianz launches industry-first ‘Global Health Care’ plan

’Bajaj Allianz General Insurance in collaboration with Allianz Partners has announced the launch of a new health insurance product ‘Global Health Care’.
It is a comprehensive health indemnity insurance product that provides seamless cover to the policyholder for planned as well as emergency treatment available for domestic and international usage.
The Unique Selling Proposition (USP) of the product is that it allows insured members to plan any treatment abroad or in India availing the best medical facilities anywhere across the globe.

Key Highlights :

The product offers one of the widest sums insured starting from ₹37.50 lakh to ₹3.75 crores ($100,000 to $ 1,000,000).
It is available with two plans namely ‘Imperial Plan’ and ‘Imperial Plus Plan’ offering international and domestic Covers.
The primary differentiator between these plans is that the Imperial Plus is a high-end variant with higher sum insured options offered along with enhanced features.
The domestic cover for ‘Imperial Plan’ and ‘Imperial Plus Plan’ provides in-patient hospitalisation treatment, and the pre- and post-hospitalisation expenses.
It offers policyholders the option to choose between worldwide cover, including the USA and exclusion from it.
This product is offered to resident Indians with a sum insured available on an individual basis for one year.

About Bajaj Allianz General Insurance :

Founded : 2001
Headquarters: Pune, Maharashtra
MD & CEO : CEO: Tapan Singhel

Indians remitted Nearly USD 2 bilion under LRS scheme in Nov 2022 -RBI Data

According to the latest data released by the Reserve Bank of India (RBI) Indians remitted close to $2 billion in November, 2022 under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS).
Outward remittances under the scheme jumped 29% to $1.99 billion compared to $1.54 billion in Nov 2021.
Sequentially, outward remittances under the scheme were up about 3.5%.

Key Highlights :

International travel continued to remain over 50% of the entire outward remittance by Indians under the scheme.
In November,2021 outward remittances for international travel touched $1.03 billion, up 2.25 times from the year-ago period.
According to the RBI data, outward remittance for maintenance of close relatives was $305.35 million in November,2022 followed by $220.90 million on gifts, and $211.65 million for overseas education.

About LRS :

The scheme was initially introduced on February 4, 2004, with a limit of USD 25,000.
LRS refers to external remittances by resident individuals for purposes like studies abroad, medical treatment, maintenance of close relatives, and investments and travel.
The LRS limit has been later revised in stages consistent with prevailing macro and micro economic conditions.

CURRENT AFFAIRS: NATIONAL NEWS

Agri exports were up 12% to $19.7b in Apr-Dec, to top $26 b in FY23

A 12 per cent increase in the export of major agriculture and processed products during the first three quarters of the current fiscal has buoyed the Agricultural and Processed Food Products Export Development Authority (APEDA) to target a record $26-29 billion in this fiscal, against $24.76 billion in 2021-22.
Exports have jumped to $19.69 billion during April-December of the current fiscal from $17.51 billion a year ago.
The government has set a target of $23.56 billion for the export of APEDA products during FY 2022-23.
The top 10 potential products (non-basmati rice, basmati rice, bovine meat, miscellaneous preparations, cereal preparations, maize, groundnut, guar gum, pulses, processed vegetables) and top 10 export destinations (Bangladesh, UAE, the US, Saudi Arabia, Indonesia, Iran, Vietnam, Malaysia, China and Nepal) has helped to achieve the growth.
In view of the International Year of Millets in 2023, APEDA has planned an aggressive campaign for the promotion of these Shri Anna (nutri cereal) and its value-added products in select markets for boosting export.

About APEDA:

The Agricultural and Processed Food Products Export Development Authority is an Indian Apex-Export Trade Promotion Active government body.
M Angamuthu, Chairman, APEDA.
Founded: 13 February 1986
Headquarters: New Delhi

84 DBUs are operational across the country

Prime Minister Shri Narendra Modi dedicated 75 Digital Banking Units (DBUs) to the service of the nation on October 16, 2022.
As on date, 84 DBUs are operational across the country.
DBUs have been introduced to further the objective of improving the availability of digital infrastructure while accelerating and widening the reach of digital banking services.
As per the data sourced from the National Payments Corporation of India (NPCI), UPI transactions registered in FY 21-22 were 45 billion, showing 8 times growth in the last 3 years and 50 times growth in last 4 years.
Also, the AePS transactions during FY 21-22 have grown 4 times in last 3 years and 10 times since last 4 years.
DBUs are specialised fixed-point business units / hubs set up by commercial banks providing certain digital infrastructure for delivering digital banking products & services.
DBUs provide digital services in both self-service and assisted mode.
This enables customers to have 24*7 convenient access and enhanced digital experience in an efficient, paperless, secured and connected environment.
As informed by Reserve Bank of India (RBI) and Indian Banks’ Association (IBA), the broad parameters for selection of first 75 DBUs included:
Tier-2 to Tier 6 centres (depending on the infrastructure availability);
Districts identified by RBI under the pilot programme “Expanding and Deepening of Digital Payments Ecosystem”; and Districts with high percentage of women population, youth, Ministry of Micro, Small & Medium Enterprises (MSMEs), geographically and strategically important locations, North-East area, SHG penetration and moderate level of digital adoption etc.
Several initiatives have been taken by Government of India, RBI, NPCI and banks, to promote digital transactions and to create awareness about digital payments in the country.
Some of the initiatives are BHIM-UPI, UPI-123, Aadhar Payment Bridge, AePS etc.
A pan-India Financial Literacy and Inclusion survey has been conducted by Reserve Bank of India (RBI), based on 3 parameters namely, financial knowledge, attitude and behaviour.
As per the survey done by RBI on a total score of 21, the average urban & rural score for different zones is provided below:
In terms of the instructions issued by Reserve Bank of India on ‘Establishment of Digital Banking Units’ vide circular dated April 7, 2022, Scheduled Commercial Banks (other than Regional Rural Banks (RRBs), Payment Banks (PBs) and Local Area Banks (LABs) are permitted to open DBUs in Tier 1 to Tier 6 centres, unless otherwise specifically restricted, without having the need to take permission from RBI in each case.

Prime Minister launches E20 Fuel & flags off Green Mobility Rally in Bengaluru

Prime Minister inaugurated India Energy Week (IEW) 2023 in Bengaluru, Karnataka, on Feb 2023.
Being held from 6th to 8th February, IEW is aimed to showcase India’s rising prowess as an energy transition powerhouse.
As part of the event, he also Launched E20 Fuel and Flagged off Green Mobility Rally organised by Hindustan Petroleum Corporation Limited on behalf of Oil & Gas PSUs and PLL.
In line with the Ethanol Blending roadmap, Prime Minister launched E20 fuel at 84 Retail Outlets of Oil Marketing Companies in 11 States/UTs.
E20 is a blend of 20% ethanol with petrol.
The Government aims to achieve a complete 20% blending of ethanol by 2025, and HPCL and other oil marketing companies are setting up 2G-3G ethanol plants that will facilitate the progress.
Ethanol Blending programme has been a key focus areas of the Government to achieve Aatmanirbharta in the field of energy.
Due to the sustained efforts of the Government, Ethanol production capacity has seen a six times increase since 2013-14.
Ethanol Blending Program & Biofuels Program have not only augmented India’s energy security but have also resulted in a host of other benefits including reduction of 318 Lakh Metric Tonnes of CO2 emissions and foreign exchange savings of around Rs 54,000 crore.
As a result, there has been payment of around Rs 81,800 crore towards ethanol supplies during 2014 to 2022 and transfer of more than Rs 49,000 crore to farmers.
Prime Minister also flagged off Green Mobility Rally organised by HPCL.
The Rally witnessed participation of 57 vehicles running on sustainable green energy sources viz., E20, E85, Flex Fuel, Hydrogen, Electric etc.
Government of India’s policy push like Ethanol Blending Program and National Green Hydrogen Mission will fuel Indian economy towards its target of 5 trillion dollar economy and realizing Net Zero by 2070.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Bangladesh drops parboiled rice G2G import deals with Indian co-op agencies

Bangladesh has cancelled its orders to import 2 lakh tonnes of parboiled rice from 2 Indian cooperative agencies through government-to-government (G2G) deals after having kept them in “abeyance” for a few weeks.
The return of the “bid bonds” is a confirmation of Dhaka cancelling its plans to import the rice as part of its efforts to buy 5 lakh tonnes for its public distribution system.
Sheikh Hasina Wajed government decided to suspend the process of buying overpriced rice from the two agencies NCCF (National Cooperative Consumers Federation of India Ltd) and Kendriya Bhandar.

Impact on India :

The impact of the deal is being felt in the Indian domestic market with prices of parboiled rice dropping at least 10% after having increased 30% in January to ₹29,000 a tonne.
Prices had surged on expectations of the G2G rice deals with Bangladesh going through.
Dhaka’s plans to enter into G2G deals to import parboiled rice ran into rough weather after it faced criticism of paying a higher price than what some private Indian exporters had quoted in a global tender to import 50,000 tonnes of parboiled rice.

What is G2G?

G2G is a term used to describe interactions between governments, typically at the national level.
These interactions can take a variety of forms, including diplomatic relations, economic cooperation, military alliances and so on

About Bangladesh :

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

CURRENT AFFAIRS : STATE NEWS

J&K govt to host its first ever SARAS Fair 2023

The Government of Jammu and Kashmir (J&K) is going to host its first of its kind SARAS Fair 2023 from February 4 to 14, 2023 (11-day long) at Bagh-e-Bahu in J&K.
Union Minister for Rural Development & Panchayat Raj, Giriraj Singh and Lieutenant Governor of the UT of Jammu and Kashmir, Manoj Sinha, inaugurated the fair.

About SARAS Fair 2023 :

SARAS fair is also known as SARAS Aajeevika Mela.
The Fair provides rural, and marginal producers an opportunity to showcase their products, capacity, and skills of livelihood.
It is conducted under the guidance of the Ministry of Rural Development.
The Fair is organised jointly by the Central-State Government as part of the National Rural Livelihood Mission (NRLM).
During the SARAS fair, artisans and Self Help Groups (SHG) women are showcasing their crafts, handloom and foods.
The fair is expected to witness the participation of women SHG from around 15 States and UTs across the country to sell their self made products.

About J&K :

Lieutenant Governor : Manoj Sinha
Capital : Srinagar, Jammu
National Park : Kishtwar High Altitude National Park, Kazinag National Park, Dachigam National Park
Wildlife Sanctuaries : Ramnagar Wildlife Sanctuary, Gulmarg Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

Govt weighs ITC stake sale:

The Centre has revived a plan to sell part of its indirectly held stake in ITC and the transaction could even be completed in the current financial year.
If the transaction happens before March, the government could easily meet its revised disinvestment target of Rs 50,000 crore for FY23, given that it has already netted Rs 31,106 crore, and a sale is also being planned of a part of its residual stake in Vedanta-controlled Hindustan Zinc.
The government holds a prized 7.86% in ITC via the Specified Undertaking of the Unit Trust of India (SUUTI).
At current market prices, this stake is worth about Rs 37,390 crore, but the proposed transaction could be only a fraction of this.
ITC is a holding company with a diversified presence in cigarettes, hotels, paperboards & speciality papers, packaging, agribusiness, packaged foods & confectionery, branded apparel, greeting cards and other FMCG products.
In February 2017, the government sold a 2% stake from SUUTI’s holding in ITC to mobilise about Rs 6,700 crore.
No further stake in ITC has been sold after 2017 because it was felt that a de-merger of the conglomerate into several distinct entities could help the government realise more value.
Currently, Life Insurance Corporation holds 15.29% of ITC, while foreign direct investment is at 29.18% (Rothmans International Enterprises, Myddleton Investment Company, and Tobacco Manufacturers (India).

About ITC:

ITC Limited is an Indian conglomerate company headquartered in Kolkata. ITC has a diversified presence across industries such as FMCG, hotels, software, packaging, paperboards, specialty papers and agribusiness.
The company has 13 businesses in 5 segments. It exports its products in 90 countries.
Headquarters: Kolkata
Founded: 24 August 1910, Kolkata

RIL, Ashok Leyland unveil India’s first hydrogen-powered truck

Mukesh Ambani-led Reliance Industries (RIL) and Ashok Leyland unveiled India’s first Hydrogen Internal Combustion Engine (H2-ICE) powered truck at the India Energy Week in
RIL and Ashok Leyland, the Indian flagship company of the Hinduja Group and India’s leading commercial vehicle manufacturer, were working on developing this technology over the past year.
RIL, which contracts a fleet of nearly 45,000 trucks every year to move goods for its refining and marketing operations, is interested in powering them with green hydrogen which it would be producing at its Jamnagar facility in a few years.
Green hydrogen is the cleanest form of fuel when produced through renewable sources of energy.
According to a June 2022 report by Niti Aayog on Harnessing Green Hydrogen, increasing consumption from steel and heavy-duty trucking sectors will be the long-term driver for hydrogen, with the demand of almost 11 million tonnes per year by 2030 and accounting for almost 52% of total demand by 2050.
Shenu Agarwal as Managing Director & CEO Ashok Leyland.

About RIL:

Headquarters: Mumbai
Founder: Dhirubhai Ambani
Owner: Mukesh Ambani

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

CJI DY Chandrachud administers the oath to 5 new SC judges

Chief Justice of India (CJI) DY Chandrachud administered the oath of office to 5 new judges of the Supreme Court in a ceremony held at the Supreme Court’s auditorium in its new building complex.

List of 5 new Judges :

Pankaj Mithal
Sanjay Karol
PV Sanjay Kumar
Ahsanuddin Amanullah
Manoj Misra

Their names were recommended for elevation as apex court judges by the 6 member Supreme Court Collegium on December 13, 2022.
With the addition of 5 new judges, the strength of the apex court has gone up to 32 judges, 2 short of its full strength.
Actual sanctioned judge strength of the Supreme Court is 34 (including the Chief Justice of India).
Earlier, Pankaj Mithal, P V Sanjay Kumar, Manoj Misra were the chief justices of the high courts of Rajasthan, Manipur and Allahabad respectively, while Sanjay Karol and Ahsanuddin Amanullah were both chief justices of Patna HC.

About CJI & Supreme Court Judges :

CJI and the Judges of the Supreme Court are appointed by the President under Article 124 of the Constitution.

Eligibility Criteria for judge of Supreme Court :

A person must be a citizen of India a
He/ She must have been a Judge of a High Court for at at least 5 years; or
He should have been an advocate of a High Court for at least 10 years; or
He should be a distinguished jurist in the opinion of the president.

About Supreme Court of India :

Established : 26th Jan 1950
Location : New Delhi, Delhi

Rajan Pental appointed as Executive Director of YES BANK

The Reserve Bank of India (RBI) appointed Mr Rajan Pental as the Executive Director of YES Bank for a period of 3 years.
He will continue to spearhead the YES bank’s retail banking portfolio, apart from his appointment as an executive director.

About Mr Rajan Pental :

He has been part of Yes Bank since November 2015.
Rajan Pental is currently the Global Head of Retail Banking of Yes bank.

About YES Bank :

Founded : 2004
Headquarters : Mumbai, Maharashtra, India
CEO: Prashant Kumar.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

NASA hands over payload of NISAR satellite to ISRO

The National Aeronautics Space Administration (NASA) handed over the payload for the NISAR (NASA-Isro Synthetic Aperture Radar) satellite to Indian Space Research Organisation (ISRO).

About NISAR satellite :

NISAR, is an earth science satellite & jointly built Synthetic aperture radar (SAR) by NASA and the ISRO.
It has been built by space agencies of the United States (US) and India under a partnership agreement signed in 2014.
It is expected to be launched from Satish Dhawan Space Centre in Andhra Pradesh (AP) in 2024.
NISAR will be the first radar of its kind in space to systematically map Earth, using 2 different radar frequencies.
NISAR’s 2 radar systems

The L-band Synthetic aperture radar (SAR) provided by JPL.
The S-band SAR built by ISRO.

NASA-ISRO SAR refers to a technique for producing fine-resolution images from a resolution-limited radar system.
It will use a signal-processing technique called interferometric synthetic aperture radar (InSAR), to observe changes in Earth’s land and ice surfaces down to fractions of an inch.
NISAR provides information on earth’s crust, ice sheets, and ecosystems, biomass, natural hazards, sea level rise, and groundwater.
It monitors resources such as water, forests and agriculture and measures changes in earth surface less than a centimetre across
The satellite will help researchers detect slow-moving variations of a land surface that can precede earthquakes, landslides, and volcanic eruptions.

About NASA :

Established : July 29, 1958
Headquarters : Washington, D.C, United States of America (USA)
Administrator : Bill Nelson

About ISRO :

Established : 15 August 1969
Headquarters : Bengaluru, Karnataka, India
Chairman : Sreedhara Somanath

IIT Madras to receive grant worth Rs 242 crore for research on Lab Grown Diamonds

The Union Government has chosen the Indian Institute of Technology-Madras (IIT-M) for undertaking research on Lab Grown Diamonds (GDs) and will provide a grant of Rs. 242 crore over a period of 5 years.
This research will be focused on driving indigenisation of the LGD manufacturing process.
The India Centre for Lab Grown Diamonds (InCent-LGD) at IIT-Madras was identified for this prestigious project based on our nearly two decades of work experience in diamond research wherein we have developed many technologies for industry, space and defence sectors.

What is Lab Grown Diamonds (LGD)?

Lab-grown diamonds are diamonds that are produced using specific technology which mimics the geological processes that grow natural diamonds.
LGDs are mostly manufactured through two processes – high pressure, high temperature (HPHT) method or Chemical Vapour Deposition (CVD) method.

CURRENT AFFAIRS: RANKING AND INDEXES

India drops to third spot in MSCI EM index amid rout in Adani group stocks

India’s ranking on the MSCI (Morgan Stanley Capital International) Emerging Markets (EM) Index, which is said to be tracked by passive funds with assets under management of more than $350 billion, has slipped, following last month’s underperformance amid rout in Adani Group shares.
With a weighting of 12.97 per cent, India is now ranked third after China and Taiwan which have a weighting of 33.49 per cent and 14.42 per cent, respectively.
At the end of December 2022, India had a weighting of 14.44 per cent and occupied second place for the first time.
The ascent came after outperforming the EM pack in Calendar 2022.
Last week, the Indian market dropped out of the top five nations in terms of the highest market capitalisation.

About MSCI:

MSCI is an acronym for Morgan Stanley Capital International.
It is an investment research firm that provides stock indexes, portfolio risk and performance analytics, and governance tools to institutional investors and hedge funds.
Headquarters: New York, United States
CEO: Henry A. Fernandez (1998–)
Founded: 1969

PM Modi emerges as world’s most popular leader, with approval rating of 78%

Prime Minister Narendra Modi has been pegged as the world’s most popular leader with an approval rating of 78 per cen t as per a survey by a US-based consulting firm ‘Morning Consult.’
As per the rating PM Modi’s ratings trump those of other leaders including US President Joe Biden, French President Emmanuel Macron and UK Prime Minister Rishi Sunak.
The poll surveyed 22 global leaders for the ratings.
PM Modi garnered 78 per cent of approval ratings, way ahead of US President Joe Biden, who received 40 per cent ratings.
Mexican President Andres Manuel Lopez.
Obrador, came in second with 68 per cent ratings and Swiss President Alain Berset occupied the third position with 62 per cent approval rating.
The newly elected far-right leader Giorgia Meloni of Italy, the first female Prime Minister of the country is placed in 6th place with 52 per cent ratings.
The survey also featured Australian Prime Minister Anthony Albanese in 4th place with a 58 per cent approval rating.

Indore Municipal Corporation, ranked top in cleanliness survey for six consecutive years:

Indore Municipal Corporation, ranked top in cleanliness survey for six consecutive years, has become the country’s second civic body to launch green bonds, seeking to raise Rs 244 crore for a 60-mw solar plant a t its water pumping station.
The public issues of the green bonds will be open for subscription from February 10-14.
The issue will be listed on the National Stock Exchange.
Indore’s green bonds, which have been rated AA+ by India Ratings and AA by Care Ratings, are in the form of four strips.
The strip format of bond issuances includes separate transferable and redeemable principal parts.
The maturities of the sep-arate portions are three years, five years, seven years and nine years.
The proceeds from Indore’s bond sale will be used for the instal-lation of a 60 MW solar power plant in Khargone district of Madhya Pradesh.
Ghaiziabad’s corporation was the first to issue green bonds in India in 2021.

CURRENT AFFAIRS: MOUS AND AGREEMENT

TNDIC signed MoUs from 53 industries and organisations for a potential investment of ₹11,794 crore

The Tamil Nadu Defence Industrial Corridor (TNDIC) has managed memorandum of understanding (MoUs) from 53 industries and organisations for a potential investment of ₹11,794 crore and of that ₹3,861 crore have already been invested in the Corridor.
Through the TNDIC, spread over five nodes of Chennai, Coimbatore, Hosur, Salem and Tiruchirappalli, the government expects that it would generate opportunities for direct and indirect employment.
The corridor was inaugurated in 2019.
A defence corridor refers to a route or a path along which domestic productions of defence equipment by public sector, private sector and MSMEs are lined up to enhance the operational capability of the defence forces.

About TN:

Chief minister: M. K. Stalin
Governor: R. N. Ravi
NP: Mudumalai National Park, Madumalai, Anamalai Tiger Reserve, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park, Vedanthangal Bird Sanctuary, Karikili Bird Sanctuary.

CAG signed two MoUs with the auditing authorities of Tajikistan and Kazakhstan:

The Comptroller and Auditor General of India (CAG) signed two Memoranda of Understanding (MoUs) with auditing authorities of Tajikistan and Kazakhstan on the sidelines of the Shanghai Cooperation Organization Supreme Audit Institutions (SCO SAI) Leaders’ meeting.
The agreements are aimed at strengthening cooperation and exchang e of expertise between the two nations in the field of auditing.
The agreements are a step forward in promoting closer ties and collaboration among the Supreme Audit Institutions (SAIs) of the three nations.

About CAG:

The Comptroller and Auditor General of India is the supreme audit institution of India, established under Article 148 of the Constitution of India.
Girish Chandra Murmu is the current CAG of India.
Founded: 1858

IBM has partnered with NASA to gain new findings on Earth’s climate:

IBM has partnered with NASA to gain new findings on Earth’s climate through the power of AI technology.
The two organizations will use AI tech developed by IBM together with the large amounts of Earth observation and geospatial data that NASA has available to share.
Earth observation is the gathering of information about Earth’s physical, chemical, and biological systems, usually through the use of satellite imaging.
The company stated that these types of AI systems have been used to advance natural language processing (NLP) technology in recent years.
An example of an AI model that uses NLP is ChatGPT (Chat Generative Pre-trained Transformer).

About IBM:

The International Business Machines Corporation, nicknamed Big Blue, is an American multinational technology corporation headquartered in Armonk, New York.
CEO: Arvind Krishna.
Headquarters: Armonk, New York, United States
Founders: Herman Hollerith, Charles Ranlett Flint, Thomas J. Watson
Founded: 16 June 1911, Endicott, New York, United States

MoU with Morocco’s OCP Group for annual imports of 1.75 million tonne:

To ensure stability in the supplies of soil nutrients four fertiliser firms – state-run National Fertilisers Limited and Rashtriya Chemicals and Fertilisers Ltd and Chambal Fertilisers and Chemicals Ltd and Paradeep Phosphates Ltd from the private sector– have signed a memorandum of understanding (MoU) with Morocco’s OCP Group for annual imports of 1.75 million tonne (MT) of phosphorus (P) and potassium (K) fertilisers.
As per the MoU, one MT of diammonium phosphate (DAP), 0.7 MT of triple superphosphate (TSP) and 0.05 MT of murate of potash (MOP) will be imported to meet the domestic requirements of the soil nutrients varieties for next one year.
India has been discussing with several countries s including Senegal, Jordan, Israel, Oman, Russia, Canada and Saudi Arabia for ensuring assured supplies of non-urea fertiliser such DAP and NPK from countries,
The country imports about half of its requirement of DAP.
Around 25% of urea and 15% of NPK fertilizer requirements are met through imports.
The domestic MoP demand is met solely through imports (from Belarus, Canada and Jordan, etc).
In October, 2022, Rashtriya Chemicals and Fertilizers Ltd signed MoU with K Plus S Middle East FZE DMCC, a subsidiary of Germany’s K+S Minerals and Agriculture GmBH for supply of around 0.1 MT of MOP annually till 2025 at a discounted India specific price.
In August last year, India and Saudi Arabia had signed a pact for an annual supply of 2.5 MT of ammonia and DAP, NPK fertilisers till 2025.

About Morrocco

Capital: Rabat
Currency: Moroccan Dirham
Prime minister: Aziz Akhannouch

CURRENT AFFAIRS: BOOKS AND AUTHOR

Dr Peggy Mohan has bagged the ‘Mathrubhumi Book of The Year’ award:

Author Dr Peggy Mohan has bagged the ‘Mathrubhumi Book of The Year’ award at the fourth edition of Mathrubhumi International Festival of Letters (MBIFL 2023).
Her book ‘Wanderers, Kings and Merchants,’ portraying the evolution of language as the outcome of migrations, and won the award that carries Rs two lakh as a cash prize and a sculpture.
Nobel Laureate Abdulrazak Gurnah presented the award to Mohan at the valedictory ceremony of the four-day MBIFL 2023.
MBIFL 2023, also known as ‘Ka’ in Malayalam, featured Nobel and Booker Prize winners and Jnanpith awardees and others among over 400 names in creative fields.

CURRENT AFFAIRS : OBITUARIES

Pakistan’s former President Pervez Musharraf passed away

Pakistan’s former president and military leader General Pervez Musharraf (Retd), passed away at the age of 79 in Dubai, United Arab Emirates (UAE).
He was suffering from amyloidosis ,a rare disease that occurs when a protein called amyloid builds up in organs.

About Pervez Musharraf :

Pervez Musharraf born in Delhi, India.
He was promoted to four-star general by Prime Minister Nawaz Sharif in 1998, making Musharraf the head of the armed forces.
He led the Kargil infiltration that brought India and Pakistan to a war in 1999.
He ruled Pakistan from 1999 to 2008.
He has been declared a fugitive in the former Prime Minister Benazir Bhutto murder case and Red Mosque cleric killing case.
He published his autobiography titled In the Line of Fire: A Memoir in 2006
He received the Imtiazi Sanad medal for gallantry during the Indo-Pakistan war of 1965.

Delhi Zoo’s oldest white tigress Vina Rani died

The oldest white tigress at the National Zoological Park (also known as the Delhi Zoo), Vina Rani died at the age of 17.
Blood samples of the tigress were collected and the blood profile revealed that it was suffering from hepatitis.
She was a third-generation white tigress born in the zoo.
Currently there are now 5 white tigers and 4 Royal Bengal tigers at the zoo.

About White Tiger :

The white tiger or bleached tiger is a leucistic pigmentation variant of the Mainland tiger.
A white tiger has a lifespan of 12 to 14 years in the wild.

Daily CA one-liner: Feb 8

A 12 per cent increase in the export of major agriculture and processed products during the first three-quarters of the current fiscal has buoyed the Agricultural and Processed Food Products Export Development Authority (APEDA) to target a record $26-29 billion in this fiscal, against $24.76 billion in 2021-22.
Prime Minister Shri Narendra Modi dedicated 75 Digital Banking Units (DBUs) to the service of the nation on October 16, 2022.
Prime Minister inaugurated India Energy Week (IEW) 2023 in Bengaluru, Karnataka, on Feb 2023
The Centre has revived a plan to sell part of its indirectly held stake in ITC and the transaction could even be completed in the current financial year.
Mukesh Ambani-led Reliance Industries (RIL) and Ashok Leyland unveiled India’s first Hydrogen Internal Combustion Engine (H2-ICE) powered truck at the India Energy Week in
India’s ranking on the MSCI (Morgan Stanley Capital International) Emerging Markets (EM) Index, which is said to be tracked by passive funds with assets under management of more than $350 billion, has slipped, following last month’s underperformance amid rout in Adani Group shares.
Prime Minister Narendra Modi has been pegged as the world’s most popular leader with an approval rating of 78 per cen t as per a survey by a US-based consulting firm ‘Morning Consult.’
Indore Municipal Corporation, ranked top in cleanliness survey for six consecutive years, has become the country’s second civic body to launch green bonds, seeking to raise Rs 244 crore for a 60-mw solar plant a t its water pumping station.
The Tamil Nadu Defence Industrial Corridor (TNDIC) has managed memorandum of understanding (MoUs) from 53 industries and organisations for a potential investment of ₹11,794 crore and of that ₹3,861 crore have already been invested in the Corridor.
The Comptroller and Auditor General of India (CAG) signed two Memoranda of Understanding (MoUs) with auditing authorities of Tajikistan and Kazakhstan on the sidelines of the Shanghai Cooperation Organization Supreme Audit Institutions (SCO SAI) Leaders’ meeting
IBM has partnered with NASA to gain new findings on Earth’s climate through the power of AI technology.
To ensure stability in the supplies of soil nutrients four fertiliser firms – state-run National Fertilisers Limited and Rashtriya Chemicals and Fertilisers Ltd and Chambal Fertilisers and Chemicals Ltd and Paradeep Phosphates Ltd from the private sector– have signed a memorandum of understanding (MoU) with Morocco’s OCP Group for annual imports of 1.75 million tonne (MT) of phosphorus (P) and potassium (K) fertilisers.
Author Dr Peggy Mohan has bagged the ‘Mathrubhumi Book of The Year’ award at the fourth edition of Mathrubhumi International Festival of Letters (MBIFL 2023).
As per Reserve Bank of India’s (RBI’s) latest status update number of payment acceptance devices, including physical and digital, deployed under the Payments Infrastructure Development Fund (PIDF) Scheme as on December 31, 2022, stood at about 1.87 crore.
’Bajaj Allianz General Insurance in collaboration with Allianz Partners has announced the launch of a new health insurance product ‘Global Health Care’.
According to the latest data released by the Reserve Bank of India (RBI) Indians remitted close to $2 billion in November, 2022 under the Reserve Bank of India’s (RBI’s) liberalised remittance scheme (LRS).
Bangladesh has cancelled its orders to import 2 lakh tonnes of parboiled rice from 2 Indian cooperative agencies through government-to-government (G2G) deals after having kept them in “abeyance” for a few weeks.
The Government of Jammu and Kashmir (J&K) is going to host its first of its kind SARAS Fair 2023 from February 4 to 14, 2023 (11-day long) at Bagh-e-Bahu in J&K.
Chief Justice of India (CJI) DY Chandrachud administered the oath of office to 5 new judges (Pankaj Mithal, Sanjay Karol, PV Sanjay Kumar,Ahsanuddin Amanullah, Manoj Misra) of the Supreme Court in a ceremony held at the Supreme Court’s auditorium in its new building complex.
The Reserve Bank of India (RBI) appointed Mr Rajan Pental as the Executive Director of YES Bank for a period of 3 years.
The National Aeronautics Space Administration (NASA) handed over the payload for the NISAR (NASA-Isro Synthetic Aperture Radar) satellite to Indian Space Research Organisation (ISRO).
The Union Government has chosen the Indian Institute of Technology-Madras (IIT-M) for undertaking research on Lab Grown Diamonds (GDs) and will provide a grant of 242 crore over a period of 5 years.
Pakistan’s former president and military leader General Pervez Musharraf (Retd), passed away at the age of 79 in Dubai, United Arab Emirates (UAE).
The oldest white tigress at the National Zoological Park (also known as the Delhi Zoo), Vina Rani died at the age of 17.

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