Daily Current Affairs February 09 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

Muthoot Finance launches NCD issue for 500 crore                                       

• Muthoot Finance Ltd is planning to raise around Rs 500 crores through public issue of secured redeemable non-convertible debentures (Secured NCDs) of the face value of Rs 1,000 each.
• The issue comes with a base size of Rs 100 crore with an option to retain oversubscription up to Rs 400 crore, aggregating up to a tranche limit of Rs 500 crore.
• The NCD (Non-Convertible Debenture) issue will be open from February 8 till March 3, 2023.
• Muthoot Finance has hiked the interest rates by 0.35-0.50% compared with the last issue, which was launched in November 2022.

Key Highlights : 

• The NCDs have been rated AA+ with a stable outlook by ICRA Ltd and are proposed to be listed on BSE and the allotment will be on a first-come-first-serve basis.
• The minimum application in the NCD issue will be Rs 10,000 
• There are 7 investment options for the NCDs, with ‘monthly’ or ‘annual’ interest payment frequency or ‘on maturity redemption’ payment with coupon ranging from 7.75% p.a to 8.6% p.a.

About NCD  : 

• It is a long term financial instrument issued by Corporates for specified tenure to raise resources / funds through public issue or private placement.
• NCD are those which cannot be converted into shares or equities.
• It is a fixed income instrument similar to a bank fixed deposit and can be traded on stock exchanges.

Who all can apply?

• Institutional Investors such as public financial institutions, scheduled commercial banks, among others, and non- Institutional Investors such as co-operative banks and regional rural banks can apply for the NCDs.

Types of NCDs : 

• 2 types of non-convertible debentures – Secured NCDs & Unsecured NCDs

Secured NCDs:

• Secured NCDs are those NCDs that are backed by the issuer company’s assets.

Unsecured NCDs: 

• When the NCDs are based only on the creditworthiness of the issuer and not backed by assets, they are called unsecured NCDs.

About Ltd : 

• Founded : 1939
• Headquarters : Kochi, Kerala, India
• Chairman : George Jacob Muthoot
• MD : George Alexander Muthoot
• Muthoot Finance Ltd is an Indian financial corporation and the largest gold loan Non-Banking Financial Company (NBFC) in the country.

Paytm Payments Bank Partners with NPCI to introduce RuPay Credit Card on UPI

• India’s homegrown Paytm Payments Bank Limited (PPBL), has partnered with the National Payments Corporation of India (NPCI) to enable users to link RuPay credit cards with Unified Payments Interface (UPI). 

Key Highlights : 

• With this, users can pay merchants both online and offline by scanning the UPI-enabled QR code via the Paytm app, eliminating the need to carry cards all the time.
• This will increase the usage of RuPay credit cards and provide an easier experience for both consumers and merchants.
• Also with this, the Bank has empowered users with convenient payments through a greater acceptance of RuPay credit cards, strengthening the credit card ecosystem in India
• Paytm Payments Bank continues to be a leader in UPI as the largest merchant acquiring and beneficiary bank.
• In UPI, it is a leader in P2M (peer-to-merchant) transactions, with the highest merchant partners in its ecosystem.
• Earlier, the Reserve Bank of India (RBI) approved the linking of RuPay credit cards with UPI for a digitally enabled credit card lifecycle experience for users.

About UPI : 

• Introduced : 11 April 2016
• UPI is an instant real-time payment system developed by National Payments Corporation of India (NPCI).

About PPBL : 

• Headquarters: Noida, Uttar Pradesh, India
• MD & CEO : Surinder Chawla
• In 2021 the bank received a scheduled bank status from the RBI.

About NPCI : 

• Founded : 2008
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Dilip Asbe
• It is an initiative of Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007

CURRENT AFFAIRS: NATIONAL NEWS

Rajasthan plans zoo for dolphins, rhinos inside Bharatpur sanctuary

• The Rajasthan state Forest Department has recently proposed to construct a zoo inside Keoladeo National Park.
• The Keoladeo National Park formerly known as the Bharatpur Bird Sanctuary hosts thousands of birds, especially during the winter season.
• It is located in the eastern part of Rajasthan.
• It is a Ramsar site and also a UNESCO World Heritage Site.

About Rajasthan:

• Capital: Jaipur
• Chief minister: Ashok Gehlot
• Governor: Kalraj Mishra
• WLS: Ranthambore National Park, Sawai Madhopur, Sariska Tiger Reserve, Alwar, Keoladeo National Park, Bharatpur, Kumbhalgarh Wildlife sanctuary

India’s first glass igloo restaurant was opened in Gulmarg:

• India’s first glass igloo restaurant in Gulmarg has become a popular destination for tourists who visit the area to experience scenic beauty.
• This glass-wall restaurant was built a few days ago in the middle of snow by the Kolahoi Green Heights hotel of Gulmarg in north Kashmir’s Baramulla district.
• In 2021, the same hotel built a snow igloo in Gulmarg which was the biggest snow igloo in Asia that also attracted tourists.

Np in J & K:

1. Dachigam National Park ·
2. Kishtwar National Park ·
3. Salim Ali National Park ·
4. Kazinag National Park ·
5. Hemis National Park.

Google has launched AI service called Bard:

• Search giant Google confirmed it will soon start public testing for a new AI chatbot of its own called Bard, based on the company’s Language Model for Dialogue Application (LaMDA).
• Technically, ChatGPT can be categorised as a type of generative AI – a broad label that’s used to describe any type of artificial intelligence (AI) that can be used to create new text, images, video, audio, code or synthetic data.
• Thus, ChatGPT is a complex machine learning model developed by OpenAI (a research firm founded by Elon Musk), that is able to carry out natural language generation (NLG) tasks with a very high level of accuracy.
• Bard is Google’s own conversational AI chatbot and is based on LaMDA.
• It draws on information from the web to provide fresh, high-quality responses.
• In short, it will give in-depth, conversational and essay-style answers just like ChatGPT does right now.
• Bard is built on Transformer technology – which is also the backbone of ChatGPT and other AI bots.
• Transformer technology, pioneered by Google and made open-source in 2017, is a neural network architecture, which is capable of making predictions based on inputs.
• Chinese search giant Baidu has also announced that it plans to debut a ChatGPT-style application in March called “Ernie.”

About ChatGPT:

• Chat Generative Pre-training Transformer (ChatGPT ) is a version of the GPT model trained from the internet with an enormous text dataset.
• ChatGPT is developed by a San Francisco-based AI and research company, OpenAI, and the final version was launched on November 30, 2022.
• It comes as Microsoft has invested $10 billion this year in OpenAI and is preparing to -Announce an integration of ChatGPT into its Bing Search engine.
• Offer ChatGPT to its enterprise customers as part of the Azure Cloud services.
• Running these models requires significant computing power (ChatGPT is powered by Microsoft’s Azure Cloud services).

About Google:

• Founders: Larry Page, Sergey Brin
• CEO: Sundar Pichai (2 Oct 2015–)
• Founded: 4 September 1998.
• Headquarters:California, United States

Skye Air became the first company to launch traffic management system for drones in India called Skye UTM:

• Skye Air, a Gurugram-based drone solutions provider launched traffic management system for drones in India.
• Launched in the presence of Minister of Road Transport and Highways of India Nitin Gadkari, the software will allow drone operators to plan routes, make flight plans and assess risks before running drone-based operations in the country.
• The solution, called Skye UTM, is a first-of-its-kind for India.
• Unmanned traffic management systems will play a key role in how airspace will be managed, allowing multiple beyond visual line-of-sight (BVLOS) drone operations to be run by different firms at the same time.
• Globally, several companies, such as US-based AirMap and Netherlands-based Airbus, offer such solutions.
• According to Ankit Kumar, chief executive officer of Skye Air, the software imports data from the government’s Digital Sky platform, which has been created to help drone operators plan flights in Indian airspace.

About Skye Air:

• The platform was first launched in 2018 and offers operators essential information for running drone missions in the country.
• It is run by the Directorate General of Civil Aviation (DGCA).
• Skye UTM will allow operators a “better understanding” of where they can fly.
• India’s Drone Rules 2021 set restrictions on where private entities can fly zones by designating red, green and yellow zones.

CURRENT AFFAIRS : INTERNATIONAL NEWS

India & EU set up 3 working groups under Trade and Tech Council

• India and the European Union (EU) announced the formation of 3 working groups under the ‘Trade and Technology Council’ (TTC) with a focus on trade, investment & value chains, digital economy and clean technology.
• This follows the announcement by President of the European Commission Ursula von der Leyen and Prime Minister of India, Narendra Modi, on 25 April 2022 in New Delhi.
• The TTC with India is the European Union’s(EU’s) 2nd such technology partnership after the 1st one with the United States(US) that was firmed up in June 2021.

Key Highlights : 

• Under the TTC, 3 working groups have been established.
• The 1st working group is on strategic technologies, digital governance and digital connectivity chaired by the Secretary, Ministry of Electronics & Information Technology.
• The 2nd one will cover green and clean energy technologies chaired by the Principal Scientific Adviser to the Govt of India.
• The 3rd working group is on trade, investment and resilient value chains chaired by the secretary, Department of Commerce.
• The group will cover key issues such as strategic technologies, digital governance and connectivity; green and clean energy technologies; and trade, investment and resilient value chains
• The TTC will be co-chaired on the EU side by Executive Vice-Presidents Margrethe Vestager and Valdis Dombrovskis, and on the Indian side by Minister of External Affairs S Jaishankar, Minister of Commerce and Industry Piyush Goyal, and Minister of Electronics and Information Technology Ashwini Vaishnaw
• It will allow India and the EU to tackle strategic challenges at the nexus of trade, trusted technology and security, and to deepen their bilateral relationship and help implement political commitments in these fields.
• The first EU-India ministerial meeting is planned to be held in spring 2023.

About EU : 

• Headquarters : Brussels, Belgium
• Membership : 27 members
• President of the European Council : Charles Michel

India, France And UAE Unveil Plans For Cooperation Under Trilateral Framework

• India, France and the United Arab Emirates (UAE) unveiled an ambitious roadmap for cooperation in a wide range of areas including defence, energy and technology under a trilateral framework, a move that comes amid the geopolitical turmoil triggered by the conflict in Ukraine.
• External Affairs Minister Dr. S. Jaishankar, French Foreign Minister Catherine Colonna and UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan had a telephonic conversation in this regard to adopt a roadmap for the implementation of this initiative.
• The three foreign ministers met in September, 2022 for the first time in a trilateral format on the margins of the UN General Assembly in New York.

Key Highlights : 

• The three countries will explore the possibility of creating a project on clean energy, environment and biodiversity together with the Indian Ocean Rim Association.
• They will ensure harmony between economic, technological and social policies in line with the Paris Agreement.
• In line with this system, a series of trilateral events will take place this year during the G-20 under the presidency of India and the COP-28 hosted by the United Arab Emirates (UAE) in 2023.
• The three countries agreed to expand their cooperation through initiatives such as the Mangrove Alliance for Climate (MAC) led by the UAE and the Indo-Pacific Parks Partnership led by India and France.
• They also underlined their willingness to cooperate in the field of circular economy under the Mission LiFE.

About France : 

• President : Emmanuel Macron
• Prime Minister : Élisabeth Borne
• Capital : Paris
• Currency : Euro, CFP franc

About UAE : 

• President : Mohamed bin Zayed Al Nahyan
• Capital : Abu Dhabi
• Currency : UAE dirham

Srilanka celebratesd 75 years of independence

• Sri Lanka celebrated 75 years of Independence on the 4th Feb, 2023 under the theme Namo Namo Matha – A step towards a century.
• The main celebration of the National Independence Day Celebrations was held at Galle Face Green in Colombo.
• Union Minister of State for External Affairs, V. Muraleedharan participated in the Independence Day celebrations.
• A special cultural arts festival Lankaralanka was held at Independence Square in Colombo.

• The Jaffna cultural centre which was built under an Indian grant will also be opened in a few days.

Key Highlights : 

• Sri Lanka got independence from British rule in 1948.
• It was granted independence as the Dominion of Ceylon.
• Sri Lanka became a republic on May 22, 1972 and was renamed the Republic of Sri Lanka.
• Its executive and judicial capital is Colombo, and its legislative capital is Sri Jayawardenepura Kotte.

• The first Prime Minister (PM) of Sri Lanka was Don Stephen Senanayake, who is regarded as the Father of the Nation.
• In 1972, William Gopalwa became the first President of Sri Lanka.
• Sri Lankan rupee is the official currency of Sri Lanka.

About Sri Lanka : 

• President : Ranil Wickremesinghe
• Prime Minister : Dinesh Gunawardena

CAG to host 6th Shanghai Cooperation Organisation SAI Leaders’ Meeting in Lucknow                

• The 6th Meeting of the Heads of Supreme Audit Institutes (SAIs) of Shanghai Cooperation Organisation (SCO) Member States is being hosted by the Comptroller and Auditor General (CAG) in Lucknow, Uttar Pradesh (UP).
• Governor of Uttar Pradesh Anandiben Patel is the chief guest & inaugurated the meeting.
• Comptroller and Auditor General of India, Girish Chandra Murmu led the discussion on the theme “Integrating Emerging Technologies in Audit”.
• Girish Chandra Murmu has called for global cooperation to protect audit from cyber security threats.
• Heads of top audit institutions and delegations from 4 of the 8 SCO member states – Kazakhstan, Tajikistan, Kyrgyzstan and Uzbekistan are participating in the three-day multilateral event.

Key Highlights : 

• Shri Murmu informed that the CAG is using Artificial Intelligence technology in the audit process.
• This provides a more efficient and effective approach to the audit process and improves the overall quality of the audit.
• India is currently hosting the SCO presidency, which rotates annually among member states.

• India’s 2023 theme is ‘Towards a Secure SCO’.

About SCO : 

• Established : 15 June 2001
• Headquarters : Beijing, China
• Membership : China, India, Russia, Kazakhstan, Kyrgyzstan, Tajikistan,Uzbekistan and Pakistan.
• In 2005, India was given ‘observer’ status in the SCO, and in 2017, India became a full member at the Astana summit
• The SCO is a Eurasian political, economic, International security and defence organisation.

About CAG : 

• The CAG is the supreme audit institution of India, established under Article 148 of the Constitution of India.
• The CAG is appointed by the President of India.
• The CAG is also the statutory auditor of Government-owned corporations

CURRENT AFFAIRS : STATE NEWS

Union Minister Shri Bhupender Yadav launches ‘Save Wetlands Campaign’

• Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav launched the Save Wetlands Campaign in Goa.
• The campaign is structured on a “whole of society” approach for wetlands conservation

About Save Wetlands Campaign : 

• The campaign has been launched for wetlands conservation, and affirmative actions for wetlands conservation at all levels of society.
• Under this campaign, citizen partnerships will be built for the conservation of wetlands.
• The campaign will be conducted over the next one year
• The campaign will sensitise people about the value of wetlands and increase the coverage of wetland mitras.
• On this occasion, ‘India’s 75 Amrit Dharohar- India’s Ramsar Sites Factbook’ and ‘Managing Climate Risks in Wetlands – A Practitioner’s Guide was released.
• The Factbook has information about 75 Ramsar Sites, including their values, threats they face and management arrangements.
• The practitioner’s Guide on Climate Risk Assessment will provide guidance on assessing the site-level climate risks and mitigation responses for the wetland management plan.
• In the budget 2023-2024 the Government of India (GoI) has taken various green initiatives which includes Amrit Dharohar, MISHTI, PM PRANAM, Green credit and Green Growth aligned with Mission LiFE (Lifestyle for the Environment).

About World Wetlands Day : 

• World Wetlands Day is observed on 2nd February every year worldwide to commemorate the signing of the Ramsar Convention on Wetlands of International Importance in 1971. 
• Theme of 2023 : Wetland Restoration

• There are a total of 75 wetland sites in India that are included in the Ramsar sites.

About Ministry of Environment, Forest and Climate Change : 

• Union Minister : Bhupender Yadav
• Minister of State : Ashwini Kumar Choubey

About Goa : 

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

Tamil Nadu Defence Industrial Corridor gets Rs 3,861 Cr Investment     

• According to the Ministry of Defence (MoD), the Tamil Nadu Defence Industrial Corridor (TNDIC) has managed memorandum of understandings (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.
• In TNDIC, 5 nodes namely Chennai, Coimbatore, Hosur, Salem and Tiruchirappalli have been identified.
• The setting up of new industries in an area generates opportunities for direct and indirect employment.
• The corridor was inaugurated in 2019.

What is defence corridor? 

• A defence corridor refers to a route or a path along which domestic productions of defence equipment by public sector, private sector and Micro Small & Medium Enterprise (MSMEs) are lined up to enhance the operational capability of the defence forces.

About Ministry of Defence : 

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

CURRENT AFFAIRS: BUSINESS NEWS

India ranks first in milk production in the world contributing 24% of global milk production

• According to production data of Food and Agriculture Organization Corporate Statistical Database (FAOSTAT), India is the highest milk producer in the world contributing twenty-four per cent of global milk production in the year 2021-22.
• Milk production of India has registered a fifty-one per cent increase during the last eight years- during the year 2014-15 and 2021-22 and increased to twenty-two crore tonne in the year 2021-22.
• Due to the implementation of various schemes by the department, Milk Production in the country has increased from 146.31 Million Tonnes in 2014-15 to 221.
• Egg production in the country has increased from 78.48 billion in 2014-15 to 129.53 billion in 2021-22.
• Egg production in the country is growing at the rate of 8 per cent per annum.
• Further, the National Programme for Dairy Development aims at enhancing the quality of milk, milk products and increasing the share of organised procurement, processing, value addition and marketing.

About NPDD:

• NPDD was launched in February 2014 by merging three existing schemes- Intensive Dairy Development Programme, Strengthening Infrastructure for Quality and Clean Milk Production and Assistance to Cooperatives.
• In July 2021, NPDD has been restructured with the aim of enhancing the quality of milk and milk products and increasing the share of organised procurement, processing, value addition and marketing; for implementation from 2021-22 to 2025-26.
• National Livestock Mission, Sub-Mission on Feed and Fodder Development is a separate scheme aiming to increase the availability of fodder and feed.

BSE to divest 2.5% stake in CDSL; net profit drops 16 %:

• Leading bourse Bombay Stock Exchange (BSE) said it will offload 2.5% stake in Central Depository Services (India) Ltd.
• The stake sale will be carried out through offer for sale (OFS) route.
• CDSL is one of the two depositories in India and the only listed one in the country, the other being National Securities Depository Limited (NSDL).
• It facilitates holding and transacting in securities in the electronic form and facilitates settlement of trades on stock exchanges.

About BSE:

• BSE is the oldest and India’s first equity index launched in the country.
• BSE Limited, also known as the Bombay Stock Exchange, is an Indian stock exchange.
• It is located on Dalal Street in Mumbai.
• Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman.
• Sundararaman Ramamurthy, MD and CEO of BSE.

CURRENT AFFAIRS: MOUS AND AGREEMENT

PPAC signs SOI with IEA to strengthen cooperation in field of data and research in energy sector

• Petroleum Planning & Analysis Cell (PPAC), Ministry of Petroleum and Natural Gas (MoPNG), Government of India, has signed a Statement of Intent (SoI) with International Energy Agency (IEA), headquartered at Paris, to strengthen cooperation in the field of data and research & enhance global energy security, stability, and sustainability.
• This partnership will lead to an extensive exchange of knowledge.
• Shri P. Manoj Kumar, Director General, PPAC and Dr. Fateh Birol, Executive Director, IEA, signed a Letter of Intent (SoI) on the occasion of the India Energy Week.
• This SoI is for cooperation in various areas of cooperation between PPAC and IEA, as well as in the energy sector, as specified in the SoI.
• In addition, comprehensive datasets, reports, analysis will be made available for better analysis and interpretation.
• Both sides intend to cooperate under the SoI on the areas of energy markets, data and statistics, biofuels (bioethanol and biodiesel) and Compressed Bio-Gas (CBG) and other emerging fuels.
• It will also provide information on global oil and gas markets and technologies relevant to the oil and gas sectors.
• On April 1, 2002, Petroleum Planning & Analysis Cell (PPAC), established under the Ministry of Petroleum and Natural Gas.

About IEA:

• Headquarters: Paris, France
• Founded: November 1974
• Executive director: Fatih Birol

DGGI and NFSU signed a MoU for setting up of digital forensic laboratories:

• The Directorate General of GST Intelligence (DGGI) and the National Forensic Sciences University (NFSU) signed a Memorandum of Understanding (MoU) for setting up digital forensic laboratories along with excha nge of information and knowledge, technological advancement and skill development in the field of digital forensics.
• DGGI is the apex intelligence organisation, under the Central Board of Indirect Taxes and Customs (CBIC), for collection and dissemination of information and for taking necessary measures to check evasion of GST.

About NFSU:

• NFSU is an institution of national importance established to promote studies and research in forensic sciences and related fields.
• It is the first and only institute in the field of forensic sciences.
• It has state-of-the-art technology in digital forensics and capabilities to study and analyse digital evidence.

About DGGI

• The Directorate General of GST Intelligence is a law enforcement agency under the Ministry of Finance responsible for fighting tax evasion in India.
• It was founded in 1979 as the Directorate General of Anti-Evasion and was later renamed the Directorate General of Central Excise Intelligence.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Swiggy appoints 3 independent directors on its board                                    

• Swiggy has appointed 3 independent directors to its Board – Mallika Srinivasan, Padma Shri awardee and Chairman and Managing Director (MD) of TAFE; Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates; and Sahil Barua, MD and Chief Executive Director (CEO) at Delhivery
• They are the first independent directors on Swiggy’s board and join current members:
• The current board members are Sriharsha Majety – CEO and Co-Founder of Swiggy; Nandan Reddy, Co-Founder of Swiggy; Larry Illg, CEO of Prosus Edtech and Food; Ashutosh Sharma, Head of Investments – India at Prosus Ventures; Sumer Juneja, Managing Partner – India and EMEA of SoftBank Investment Advisors; and Anand Daniel, Partner at Accel.

About Swiggy : 

• Founded : July 2014.
• Headquarters : Bangalore, Karnataka, India
• Co-Founder and CEO : Sriharsha Majety
• Swiggy is an Indian online food ordering and delivery platform.

Shamika Ravi appointed as member of EAC-PM                                       

• Economics professor and researcher Shamika Ravi has been appointed as a member of the Economic Advisory Council to Prime Minister (EAC-PM)
• Currently, Shamika Ravi is non-resident senior fellow of the governance studies program at the Brookings Institution Washington D.C.

About EAC-PM : 

• EAC-PM is an independent body constituted to give advice on economic and related issues to the Government of India, specifically to the Prime Minister.
• EAC-PM, chaired by economist Bibek Debroy, currently has 1 member and 6 part-time members.
• Member : Sanjeev Sanyal
• Part-time members of the advisory body include Shri Rakesh Mohan, Dr. Sajjid Chinoy , Dr. Neelkanth Mishra , Shri Nilesh Shah, Prof. T.T. Ram Mohan and Dr. Poonam Gupta.

Govt approves 4th executive director post for Indian Bank                                            

• The Government of India (GoI) has allowed Indian Bank to increase the number of posts of executive directors from 3 to 4.
• In August 2019, the Department of Financial Services (DFS) in the Finance Ministry stated that nationalised banks with total business of ₹10 lakh or more as per the last declared results should have 4 executive directors.

About Indian Bank : 

• Established : 1907
• Headquarters : Chennai. Tamil Nadu (TN)
• CEO: Shri Shanti Lal Jain.
• Indian Bank had assumed control of Allahabad Bank on April 1, 2020.
• The merger then had created a combined entity with a business mix of over ₹8-lakh crore and catapulted it to the 7th largest among banks.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

RBI allows DSP Investment Managers to hike stake in DCB Bank to 9.99%                               

• The Reserve Bank of India (RBI) has allowed DSP Investment Managers to hike its stake in DCB Bank to 9.99% as part of investment through different mutual fund schemes.
• The approval is valid for a year up to February 2, 2024.
• Currently, DSP MF holds 4.23% in the bank.
• The DCB Bank has received an intimation from RBI has granted its approval to DSP Investment Managers to acquire up to 9.99% of the paid-up equity capital of the Bank through the schemes of DSP Mutual Fund.
• DSP Investment Managers has been directed by the RBI to ensure that its shareholding in DCB Bank remains below 10% of the paid-up equity capital of the bank at all times.

CURRENT AFFAIRS: SPORTS NEWS

Aaron Finch announces retirement from international cricket

• Aaron Finch has announced his retirement from international T20Is.
• It has ended his 12-year-long international cricket career.
• Earlier, he had announced retirement from the 50-over format in September last year.
• He said that it’s important for the new captain and opener to give sufficient time for the 2024 T20 World Cup.
• He made his international cricket debut in a T20I against England in 2011.
• He played 103 T20 matches for Australia and scored 3120 runs at an average of 34.28 and a strike rate of 142.5.
• He led Australia in 76 men’s T20Is, as well as in 55 ODIs.
• His highest score was 172 against Zimbabwe in 2018.
• Recently, Indian Cricketer Joginder Sharma has also announced his retirement from all forms of cricket.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Salman Rushdie releases new novel six months after stabbing attack

• Author Salman Rushdie has launched his new novel called “Victory City” nearly six months after a man repeatedly stabbed the writer onstage during a lecture in New York state.
• The 75-year-old author was blinded in his right eye and his left hand was badly injured by the stabbing.
• The award-winning novelist was attacked as he was about to speak at a conference in Chautauqua in upstate New York on 12 August 2022.
• Rushdie’s 15th novel “Victory City” is published by Penguin Random House and takes the form of a translation of a mythical epic originally written in Sanskrit about the Vijayanagara Empire that ruled over much of southern India in the 14th century.

Daily CA One- Liner: Feb 9

• The Rajasthan state Forest Department has recently proposed to construct a zoo inside Keoladeo National Park
• India’s first glass igloo restaurant in Gulmarg has become a popular destination for tourists who visit the area to experience scenic beauty
• Search giant Google confirmed it will soon start public testing for a new AI chatbot of its own called Bard, based on the company’s Language Model for Dialogue Application (LaMDA).
• Skye Air, a Gurugram-based drone solutions provider launched traffic management system for drones in India.
• According to production data of Food and Agriculture Organization Corporate Statistical Database (FAOSTAT), India is the highest milk producer in the world contributing twenty-four per cent of global milk production in the year 2021-22.
• Leading bourse Bombay Stock Exchange (BSE) said it will offload 2.5% stake in Central Depository Services (India) Ltd.
• Petroleum Planning & Analysis Cell (PPAC), Ministry of Petroleum and Natural Gas (MoPNG), Government of India, has signed a Statement of Intent (SoI) with International Energy Agency (IEA), headquartered at Paris, to strengthen cooperation in the field of data and research & enhance global energy security, stability, and sustainability
• The Directorate General of GST Intelligence (DGGI) and the National Forensic Sciences University (NFSU) signed a Memorandum of Understanding (MoU) for setting up digital forensic laboratories along with excha nge of information and knowledge, technological advancement and skill development in the field of digital forensics.
• Aaron Finch has announced his retirement from international T20Is.
• Author Salman Rushdie has launched his new novel called “Victory City” nearly six months after a man repeatedly stabbed the writer onstage during a lecture in New York state.

• Muthoot Finance Ltd is planning to raise around Rs 500 crore through public issue of secured redeemable non-convertible debentures (Secured NCDs) of the face value of Rs 1,000 each.
• India’s homegrown Paytm Payments Bank Limited (PPBL), has partnered with the National Payments Corporation of India (NPCI) to enable users to link RuPay credit cards with Unified Payments Interface (UPI). 
• India and the European Union (EU) announced the formation of 3 working groups under the ‘Trade and Technology Council’ (TTC) with a focus on trade, investment & value chains, digital economy and clean technology.
• India, France and the United Arab Emirates (UAE) unveiled an ambitious roadmap for cooperation in a wide range of areas including defence, energy and technology under a trilateral framework, a move that comes amid the geopolitical turmoil triggered by the conflict in Ukraine.
• Sri Lanka celebrated 75 years of Independence on the 4th Feb, 2023 under the theme Namo Namo Matha – A step towards a century.
• The 6th Meeting of the Heads of Supreme Audit Institutes (SAIs) of Shanghai Cooperation Organisation (SCO) Member States is being hosted by the Comptroller and Auditor General (CAG) in Lucknow, Uttar Pradesh (UP).
• Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav launched the Save Wetlands Campaign in Goa.
• According to the Ministry of Defence (MoD), the Tamil Nadu Defence Industrial Corridor (TNDIC) has managed memorandum of understandings (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.
• Swiggy has appointed 3 independent directors to its Board – Mallika Srinivasan, Padma Shri awardee and Chairman and Managing Director (MD) of TAFE; Shailesh Haribhakti, Chairman of Shailesh Haribhakti & Associates; and Sahil Barua, MD and Chief Executive Director (CEO) at Delhivery
• Economics professor and researcher Shamika Ravi has been appointed as a member of the Economic Advisory Council to Prime Minister (EAC-PM)
• The Government of India (GoI) has allowed Indian Bank to increase the number of posts of executive directors from 3 to 4.
• The Reserve Bank of India (RBI) has allowed DSP Investment Managers to hike its stake in DCB Bank to 9.99% as part of investment through different mutual fund schemes.