Daily Current Affairs February 17 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

HDFC Bank Launches Offline Digital Payments Pilot Project Across 16 Cities

• HDFC Bank has launched a pilot project under the Reserve Bank of India’s (RBI’s) Regulatory Sandbox program in partnership with Crunchfish, to test offline digital payments for merchants and customers.
• HDFC is the first bank to launch a digital payment solution in a completely offline mode.

About ‘OfflinePay’ : 

• OfflinePay’ will enable customers and merchants to make and receive payments even when there is no mobile network
• This can boost the adoption of digital payments in smaller towns and rural areas with poor network connectivity.

Key Highlights : 

• The project would be rolled out for 4 months in more than 16 cities and towns across India, as part of a limited roll out.
• During the pilot, the offline transaction amount would be limited to up to Rs. 200 per transaction.
• In September 2022, RBI approved HDFC Bank’s application, in partnership with Crunchfish, to access the Regulatory Sandbox.
• Crunchfish Digital Cash AB is a subsidiary of Crunchfish AB, a publicly listed company on the Nasdaq First North Growth Market in Stockholm, Sweden..

About RBI’s Regulatory Sandbox program : 

• The Regulatory Sandbox is a formal regulatory programme for market participants to test new products, services or business models with customers in a live environment, subject to certain safeguards and oversight.
• The RBI Created the Regulatory sandbox in 2020.

About HDFC Bank : 

• Founded : August 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

RBI updates ‘Alert List’ of entities unauthorised to deal in forex trading

• The Reserve Bank of India (RBI) updated its ‘Alert List’ for the public on unauthorised forex trading platforms to include 14 more names of entities/platforms/ websites which appear to be promoting unauthorised entities/Electronic Trading Platform (ETPs), including through advertisements of such unauthorised entities or claiming to be providing training/advisory services
• In September,2022 the RBI came out with an ‘Alert List’ containing the names of 34 entities & currently the list has 48 entries.

Key Highlights : 

• The authorisation status of any person/ETP can be ascertained from the list available in the RBI’s website.
• It covers those entities/platforms/websites which are neither authorised to deal in foreign exchange (forex) under the Foreign Exchange Management Act, 1999 (FEMA).
• Unauthorised entities are also not authorised to operate electronic trading platforms (ETPs) under the Electronic Trading Platforms (Reserve Bank) Directions, 2018 for forex transactions.
• An entity not appearing in this list should not be assumed as being authorised by the RBI to deal in forex or operate ETPs for forex transactions.
• It provides caution against unauthorised entities that advertise to provide training/advisory services through ‘demo trading’ and other indirect means to facilitate forex trading.
• Residents who use unauthorised entities to remit/deposit funds, directly or indirectly for forex transactions are liable for penal action under the FEMA.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar

South Indian Bank Partners with Maruti Suzuki to introduce finance schemes       

• South Indian Bank has signed a Memorandum of Understanding (MoU) with Maruti Suzuki to provide dealer finance options and custom auto retail financing solutions for customers.
• With this tie-up, South Indian Bank aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to the customers of Maruti Suzuki.
• The agreement was signed between the senior management from Maruti Suzuki and South Indian Bank.

About South Indian Bank : 

• Founded : 1929
• Headquarters : Thrissur, Kerala, India
• MD & CEO : Murali Ramakrishnan
• Tagline : Experience Next Generation Banking

South Indian Bank Launches Wealth Management Platform – SIB Wealth 

• South Indian Bank has launched a wealth management platform – SIB Wealth in partnership with Geojit Financial Services Ltd

About SIB Wealth : 

• SIB Wealth is an exclusive value-added service that will help the bank’s high net worth (HNI) customers to invest their money in the best financial instruments available in the market.
• Under the platform, SIB will be offering the following products/services: Portfolio management services, Alternative investment fund, Systematic investment plan, Mutual fund, Bond, Real estate funds, Structured products
• SIB Wealth will provide integrated services.
• Along with managing their financial assets, the company will be creating strategic plans for their current and future needs.

About Geojit Financial Services Ltd : 

• Founded : 1987
• Headquarters : Kochi, Kerala, India
• Executive Director : C J George
• It is an investment services company in India & it was the first company in India to launch online-trading facilities.

South Indian Bank Collaborates With Telangana State Treasury For Online Payments

• South Indian Bank had signed the agreement with Telangana’s government’s Directorate of Treasuries & Accounts (DTA) (Cyber Treasury), Hyderabad, Telangana. 
• With this arrangement, South Indian Bank is among the 6 private sector banks empanelled by Telangana State to facilitate payments towards Cyber Treasury.

Key Highlights : 

• The partnership, allows the common public to make payments to Cyber Treasury – the online treasury portal of the state through the Internet Banking platform of South Indian Bank – SIBerNet
• SIBerNet’ internet banking platform is a state-of-the-art facility that is focused on providing customer services on the go with added convenience and security.

CURRENT AFFAIRS: NATIONAL NEWS

Country’s first waste-to-hydrogen plant to be set up in Pune:

• The country’s first solid waste-to-hydrogen plant will be set up in Pune at a cost of over Rs 430 crore.
• The plant will be set up by sustainability solutions provider TheGreenBillions Ltd (TGBL), who has entered into a 30-year-long agreement with Pune Municipal Corporation (PMC).
• It will treat 350 tonnes of solid garbage every day by next year.
• The plant will be set up at the plant at Hadapsar Industrial Estate in Pune.
• This is the first attempt in India to extract hydrogen from waste.
• The company will invest Rs 350 crore in setting up the plant and an additional Rs 82 crore will be spent to construct the storage facility and logistics support.
• The first 10 tonne reactor will be installed by November 2023 and the target to complete the entire plant is November 2024.
• For the Pune plant PSU firm Broadcast Engineering Consultants India Ltd (BECIL) will provide the project management consulting and Variate Pune Waste to Energy Pvt Ltd, a wholly-owned subsidiary of TGBL, will implement the project.

Govt sets up panel to formulate guidelines for Ro-Ro, Ro-Pax ferry services

• The Ministry of Ports, Shipping and Waterways (MoPSW)has set up a high level panel for formulating the guidelines for the operationalisation of Ro-Ro (Roll-on, Roll-off) and Ro-Pax ferry services.
• Besides, the committee, chaired by Deendayal Port Authority Chairman, will draft the model concession agreement for Ro-Ro/ Ro-Pax terminal operator and model license agreement for operation of Ro-Ro/ Ro-Pax/ fast passenger ferry.
• Generally, Ro-Ro refers to vessels that have the facility to roll-on or roll-off cargo when docked at a port.
• Such a system allows for easier movement of cargo.
• With Ro-Pax facility, people can travel in their vehicles in a vessel from and to a port.
• Last June, the ministry had circulated ‘Draft Guidelines for operationalisation of Ro-Ro and Ro-Pax ferry service along the coast of India’ in June 2022 for stakeholder consultation.
• In the Union Budget 2023-24, the government said that coastal shipping will be promoted as the energy efficient and lower cost mode of transport, both for passengers and freight, through PPP (Public Private Partnership) mode with viability gap funding which is in line with the country’s focus on green growth.
• Under the Sagarmala programme, the MoPSW is financially supporting 51 projects worth Rs 1,900 crore to boost the urban water transportation services in India.
• Out of them, 10 projects worth Rs 500 crore have already been complete
• The ministry has operationalised Ro-Pax Ferry service between Ghogha–Hazira in Gujarat and Mumbai–Mandwa in Maharashtra.

ReNew unveils new brand identity as it reinforces leadership in providing decarbonisation solutions

• ReNew Power, a pioneer in the renewable energy space, has made a strategic decision to rebrand itself as ReNew.
• The new brand identity reflects the company’s transition from being a pure-play renewable Independent Power Producer to an end-to-end provider of solutions across the decarbonisation spectrum.
• In line with its strategy to focus on the overall clean energy eco-system, ReNew has been leading the development of emerging decarbonisation solutions like green hydrogen, energy storage, carbon markets, and solar manufacturing, and is poised to further the Net-Zero transition goals of enterprises.
• Sumant Sinha, Chairman and CEO, ReNew.

Khanan Prahari Mobile app to Curb Illegal Mining

• Recently, government has launched a mobile app namely ‘Khanan Prahari’ and a web app Coal Mine Surveillance and Management System (CMSMS) for reporting unauthorized coal mining activities.
• Its main aim is to use space technology for curbing illegal coal mining activity in the coalfield areas of country.
• To detect citizens’ participation against illegal mining by receipt of citizen’s complaints through mobile app – KhananPrahari.
• It is developed by Ministry of Coal in coordination with Bhaskaracharya Institute for Space Application and Geo-informatics (BISAG), Gandhinagar and Ministry of Electronics & Information Technology (MeitY).
• Developed under the Digital India Programme, it is one of the first of such surveillance system using spatial technology.
• It is a satellite-based monitoring system which can provide trigger for any coal mining like activity in the vicinity of the existing coal mining areas.
• It has been hosted on the National Centre of Geo-Informatics (NCoG) portal.

Cabinet approves signing of the MoU between the India and South Africa for cooperation in Disability Sector

• Union Cabinet has given approval to the signing of an MoU between India and South Africa for cooperation in the disability sector.
• The bilateral MoU will encourage cooperation between the Department of Empowerment of Persons with Disabilities of India and the Government of South Africa.
• Union Cabinet has given approval to the signing of an MoU between India and Chile for cooperation in the field of Agriculture and Allied sectors.
• Under the MoU, a Chile-India Agricultural Working Group is to be set up.
• This Working Group will be responsible for the supervision, review and assessment of the implementation of this MoU.
• The meetings of the Working Group will be held once a year alternatively in Chile and India.
• The MoU will enter into force upon its signature.
• It will remain in force for a period of five years from the date of execution.
• Union Cabinet has also given approval to the signing of an MoU between the Institute of Chartered Accountants of India (ICAI) and The Institute of Chartered Accountants in England & Wales (ICAEW).
• The MoU provides recognition of the qualification and training of each other’s members.

About Chile:

• Capital: Santiago
• Currency: Peso

About South Africa:

• Capitals: Cape Town, Pretoria, Bloemfontein
• Currency: Rand
• President: Cyril Ramaphosa

National Horticultural Fair to showcase innovation for self reliance

• Innovative Horticulture for Self Reliance” will be the theme of the four-day National Horticultural Fair (NHF) 2023 being organised in Bengaluru from February 22.
• The fair, being organised by the ICAR-Indian Institute of Horticultural Research, will showcase and demonstrate the latest technologies for the production and processing of horticultural crops such as fruits, vegetables, flowers and medicinal crops with a focus on import substitution,.
• The sixth edition of the NHF 2023 is being organised in collaboration with the Society for Promotion of Horticulture (SPH), BESST-Hort, a technology business incubator of ICAR-IIHR, the ICAR- ATARI, Bengaluru and leading development departments serving for the promotion of horticulture.
• Over 50,000 farmers and around 250 exhibitors are expected to participate in NHF 2023, which will also showcase the innovation and value addition in millets, considering that 2023 is being observed as the International Year of Millets.

About NHF:

• IIHR has been organising the NHF since 2017.
• The apex institute for horticultural crops, set up in 1967 has been carrying out research in basic, applied and strategic aspects of horticultural crops and has so far released 316 varieties and 144 technologies.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Russian arms supplies to India worth $13 billion in past 5 years

• Russia supplied India with around $13 billion of arms during the past 5 years.
• As per Russian state news agencies, New Delhi has orders placed with Moscow for weapons and military equipment exceeding $10 billion.

Key Highlights : 

• India is the world’s biggest buyer of Russian arms, accounting for around 20% of Moscow’s current order book.
• Annual arms exports were about $14-15 billion, and the order book has remained steady at around $50 billion.
• According to data firm Stockholm International Peace Research Institute (SIPRI), India was the top importer of Russian arms from 2017 to 2021, and Russian equipment made up 46% of India’s arms imports.
• Russia will be presenting about 200 samples of weapons and military equipment at the 14th international aerospace exhibition Aero India 2023.

About Russia : 

• President : Vladimir Putin
• Prime Minister : Mikhail Vladimirovich Mishustin
• Capital : Moscow
• Currency : Russian ruble

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Pfizer Limited appoints Ms Meenakshi Nevatia as MD & Additional Director                                  

• Drugmaker Pfizer Limited’s Board of Directors has appointed Ms Meenakshi Nevatia as an Additional Director and the Managing Director (MD) for a period of 5 years with effect from April 3, 2023.
• She will succeed Mr S Sridhar, who will be stepping down as MD and board member from March 31, 2023.
• The appointment of Meenakshi will be subject to the approval of shareholders through Postal Ballot and central government
• Meenakshi has 30 years of experience across companies including Mckinsey & Co, Novartis Pharmaceuticals, and more recently with Stryker Corporation.

About Pfizer Ltd : 

• Founded : 1952
• Headquarters : Tadworth, Surrey, United Kingdom
• Pfizer UK (officially Pfizer Ltd) is the principal subsidiary of the multinational pharmaceutical company Pfizer in the United Kingdom.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

China’s Alibaba Group sells its entire stake holdings of 3.16% stake in Paytm

• Chinese company Alibaba is learnt to have sold 3.16% direct stake or 2.1 crore shares in digital financial services firm One97 Communications Limited (OCL), which operates under Paytm brand, for about Rs 13,600 crore in a block deal.
• At the end of December 2022, Alibaba had 6.26% stake in the fintech firm and sold around 3.1% of it in January, 2023.
• In November 2022,the Japanese SoftBank Group sold 29 million shares of Paytm, or a 4.5%  stake, worth about $200 million through a block deal.

About Paytm : 

• Founded : August 2010
• Headquarters :  Noida, Uttar Pradesh, India
• Founder & CEO : Vijay Shekhar Sharma

About Alibaba Group Holding Limited : 

• Established : 28 June 1999
• Headquarters : Hangzhou, China
• Executive Chairman & CEO : Daniel Zhang
• Alibaba is a Chinese multinational technology company specialising in e-commerce, retail, Internet, and technology.

Kotak Mahindra bank to acquire Sonata Finance for ₹537 cr  

• Kotak Mahindra Bank Limited (KMBL) has entered into binding share purchase agreement(s) to acquire 100% of equity shares of Sonata Finance Pvt Ltd (SFPL), a Non-Banking Finance Company – Micro Finance Institution (NBFC-MFI), from existing shareholders for a cash consideration of about ₹537 crore.
• The indicative time period for completion of the acquisition is H1 (April-September) FY24. 
• With this acquisition, SFPL will be a wholly owned subsidiary of the KMBL after receiving regulatory and other approvals.

Key Highlights : 

• As of December 31, 2022, Sonata Finance had an asset under management of Rs 1,903 crore, servicing a customer base of 900,000 through a network of 502 branches across 10 states.
• The KMBL last made an acquisition of a NBFC-MFI in 2017, when it acquired 99.49% of equity shares of BSS Microfinance for an aggregate all-cash consideration of ₹139.2 crore.

About KMBL : 

• Founded : 1985
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Uday Kotak
• Tagline : Let’s Make Money Simple Ab

About SFPL : 

• MD & CEO : Anup Kumar Singh

HDFC Bank to sell entire 9.95% stake in Softcell Technologies                      

• HDFC Bank has executed an agreement to sell its entire stake 9.95% (1,65,731 Equity Shares) in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share for a consideration of ₹9.94 crore.
• In March 2020, HDFC Bank sold 2.05% stake, or 34,150 shares of Softcell Technologies Global, for ₹1.47 crore.

About STGPL : 

• Founded : September 6, 2018
• Softcell sells Information Technology (IT) products and provides software and allied services.
• In FY22, the company had a turnover (operating income) of ₹584.42 crore and posted a net profit of ₹11.33 crore.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Tech Mahindra to open its first data & AI and cloud centre of excellence in Saudi Arabia   

• Tech Mahindra has signed a Memorandum of Understanding (MoU) with the Ministry of Communication and Information Technology (MCIT), Saudi Arabia to establish a Data & Artificial Intelligence (AI) and Cloud Center of Excellence (CoE) in Riyadh.
• The announcement supports ‘Vision 2030’, a strategic long-term digital-led development of Saudi Arabia which aims to diversify from the oil market to technology and economic development with private players.
• The MoU was signed between Ibrahem N Al-Nasser, deputy minister for technology of MCIT, and Ram Ramachandran, head -Middle East & Africa, Tech Mahindra.
• The CoE will combine academic and socio-economic goals to build national Hi-tech talent capacity, create high-quality jobs, promote digital innovation and upscale small & medium enterprises (SMEs).

About Tech Mahindra : 

• Founded : 24 October 1986
• Headquarters : Pune, Maharashtra, India
• Chairman : Anand Mahindra
• MD & CEO : c. p. Gurnani
• Tech Mahindra is an Indian multinational information technology services and consulting company.

About Saudi Arabia : 

• Capital : Riyadh
• Currency : Saudi riyal

CURRENT AFFAIRS: BUSINESS NEWS

CBDT revises norms for processing of equalisation levy

• Central Board of Direct Taxes has introduced fresh norms for filing of statements for equalisation levy by companies that would allow the tax commissioner to reject returns that they deem to be invalid and has said that personal appearance of assessees for clarifications is not needed.
• The provisions are part of the Centralised Processing of Equalisation Levy Statement Scheme, 2023 notified by the CBDT recently.
• Equalisation levy or Google tax, as it is often called, was introduced in 2016 to tax the digital economy.
• While it was initially levied at 6% of the gross consideration on online advertisements and digital advertising space, its scope was widened in 2020.
• It is levied at 2% on the consideration amount paid to non-residents who own, operate or manage an e-commerce facility or platform.
• Companies have to file the equalisation levy statement by June 30 of a financial year.
• Under the scheme which lays out the procedure for processing these statements, the commissioner may declare a statement, invalid, for non-compliance of procedure for using any software not validated and approved by the Director General or due to incomplete information.
• A new provision has also been introduced for faceless discussions.
• No assessee or e-commerce operation will be required to appear personally or through authorised representative for any proceeding.

About CBDT:

• Formed: 1860
• Headquarters: New Delhi
• Chairperson: Nitin Gupta

Public sector general insurers have Rs 348-cr exposure in Adani Group companies

• Public sector general insurance companies like New India, United India, National Insurance, Oriental Insurance and General Insurance Corporation Re have Rs 348-crore exposure in Adani Group companies.
• This represents 0.14% of their total assets under management (AUM).
• Financial institutions like Exim Bank, SIDBI, NHB, National Bank for Financing Infrastructure and Development (NBFID) and NABARD can’t divulge information under their acts.
• The finance ministry’s information comes at a time when state-owned Life Insurance Corporation came under scrutiny for its Rs 36,000-crore exposure in Adani Group companies.
• LIC’s +exposure in the Adani Group is 0.975% of LIC’s total AUM.
• Led by billionaire Gautam Adani, the group’s seven listed stocks have lost more than $100 billion in market value since a January 24 report by US short-seller Hindenburg Research accused it of improper use of offshore tax havens and stock manipulation, allegations the company has strongly denied.

Indian wheat, rice production estimated at record high

• India’s wheat production during the current crop year (July 2022-June 2023) has been estimated at a record high of 112.18 million tonnes (mt) – 5 per cent higher than 106.84 mt last crop year.
• The record high production of wheat, rice and coarse cereals has resulted in foodgrains production projected at a new high of 323.55 mt, up 2.5 per cent from the previous record high of 315.62 mt in 2021-22.
• The government releases four estimates at quarterly intervals before finalising the production for a crop year.
• Normally, there is a revision in each round from the previous one after the first estimate is released.
• Last year, traders and others had pegged wheat output below 100 mt after the yield dropped in almost all growing states, including Punjab and Haryana, due to a heatwave sweeping across the country in Marchand April.
• However, the Centre has estimated it higher at 107.74 mt in the revised estimates.
• Despite lower production in the kharif season, rice production has been projected at a record 130.84 mt for 2022-23 (130.29 mt last year).
• For the kharif season, the ministry had projected the crop at 108.75 mt against 111 mt last year. This itself is about 4 mt higher than the first advance estimates.
• The Ministry has projected rabi rice production to rise to 22.76 mt against 18.47 mt a year ago.
• The ministry has pegged coarse and nutri cereals output at 52.73 mt against 51.10 mt last year, a new record.
• It has, however, lowered kharif output to 37.2 mt from 40.6 mt.
• Pulses output will likely be at a new high of 27.81 mt up from 27.30 mt.
• Again, kharif production has been revised lower to 8.16 mt from 10.55 mt.
• Overall kharif foodgrains harvest has been lower to 153.43 mt from 163.15 mt.
• Production of oilseeds is projected to be a record 40 mt in the 2022-23 crop year against 37.96 mt in the previous year.
• Rapeseed and mustard production has been pegged at a record 12.82 mt for this year against 11.96 mt.
• Kharif oilseeds output, too, has been raised to 25.37 mt from 23.57 mt.

CURRENT AFFAIRS: RANKING AND INDEX

FT MBA Rankings 2023: Top 6 Indian business schools feature in the list

• IIMs Indore and Lucknow have secured their place in the Master of Business Administration (MBA) 2023 rankings released by the Financial Times.
• According to the rankings released by the FT, the Indian School of Business (ISB) and Indian Institutes of Management at Ahmedabad, Bangalore, Calcutta Indore and Lucknow make it to the list.
• This year, the ISB slipped to 39th rank from 32nd IIM Ahmedabad improved its position to 51 from 62 in 2022.
• However, ISB managed to retain its No. 1 position in India.
• It is the only Indian B-school in the top 50 worldwide.
• The Global MBA Ranking is published annually and ranks MB A programs worldwide based on various factors such as alumni salaries, career progress, and diversity.
• Six Indian business schools have found a place in the Financial Times (FT) Global MBA Ranking 2023.
• These include the Indian School of Business (ISB) Hyderabad (39th), Indian Institute of Management (IIM) Ahmedabad (51), IIM Bangalore (52), IIM Calcutta (76), IIM Indore (89) and IIM Lucknow (90).
• In the 2022 rankings, there were only four Indian B-schools in the top-100 list — ISB (32), IIM Bangalore (53), IIM Ahmedabad (62) and IIM Calcutta (68).
• Even though ISB has slipped seven places from last year’s rankings, the B-school said it is the top in India and the only Indian among global top-50.
• The maximum weighted salary of graduates was at Stanford ($248,669), Harvard ($235,019) and Columbia ($226,359).
• The top three weighted salaries in India were earned by graduates of IIM Ahmedabad ($186,420), ISB ($161,331) and IIM Bangalore ($157,514).

CURRENT AFFAIRS: ENVIRONMENT

145 bird species spotted in Sundarban during first bird festival

• Recently, birders, wildlife enthusiasts and forest officials have sighted 145 different bird species during the first Sundarban Bird Festival.
• The first-ever festival was organised by the Sundarban Tiger Reserve (STR) division of the West Bengal Forest Department, where six teams visited different areas inside the Sundarban Biosphere Reserve.
• The Sundarbans is located on the delta of the Ganga, Brahmaputra and Meghna rivers in the Bay of Bengal.
• This Biosphere Reserve includes Sundarban Tiger Reserve, Sundarban Nation al Park (core area), Halliday Island and Lothian Island Wildlife Sanctuaries with Sajnakhali Wildlife Sanctuary forming its buffer area.
• It is designated as a UNESCO World Heritage site.

CURRENT AFFAIRS: SPORTS NEWS

Singapore replaces Kazan as host of 2025 World Aquatics Championships

• Singapore has been awarded the hosting rights for the 2025 World Aquatics Championships, replacing Russian city Kazan which is hoping to secure the event in 2029.
• Kazan was named as host of the 2025 edition in 2019, but the event that features swimming, water polo, diving, artistic swimming, open water swimming and high diving competitions has now been moved to Singapore.
• The decision comes after Kazan lost the rights to stage last year’s World Swimming (25m) Championships, with Melbourne in Australia taking the city’s place, due to Russia’s invasion of Ukraine.
• However, Tatarstan’s Minister of Sport Vladimir Leonov insisted that discussions were underway with World Aquatics over Kazan staging the World Aquatics Championships in 2029 – 14 years after it last played host.
• The World Championship in Kazan has not been cancelled, it has been postponed to 2029.
• Singapore will become the first Southeast Asian nation to host the World Aquatics Championships, with World Aquatics President Husain Al-Musallam saying the event is in “good hands”.

About World Aquatics

• World Aquatics, formerly known as FINA, is the international federation recognised by the International Olympic Committee for administering international competitions in water sports.
• Headquarters: Lausanne, Switzerland
• Founded: 19 July 1908.

Khelo India Winter Games concludes in Gulmarg

• The third edition of Khelo India Winter Games concluded in Gulmarg with a grand function attended by over 2,000 participants, including players, tourists and officials of different departments.
• J&K topped the medal tally, bagging 26 gold medals, 25 silver and 25 bronze medals, followed by Maharashtra that got 13 gold, eight silver and six bronze medals.
• The third position was achieved by Himachal Pradesh which won 10 gold, 14 silver and 7 bronze medals while the Army scored 10 gold, 10 silver and 9 bronze medals.
• Nisith Pramanik, Union Minister of State, Ministry of Youth Affairs and Sports, was the chief guest for the concluding ceremony.

CURRENT AFFAIRS : OBITUARIES

Noted painter Lalitha Lajmi passed away                                             

• Noted painter & late actor-filmmaker Guru Dutt’s sister, Lalitha Lajmi, Passed away at the age of 90.

About Lalitha Lajmi : 

• Lalita Lajmi was born in 1932 in Kolkata, West Bengal, India.
• She has held several exhibitions in international art galleries in Paris, London and the Netherlands.

• An unparalleled water-colourist, through her works she narrates a layered history of the modern Indian woman in the decades that followed Independence.
• Her works reflect the hidden tensions that exist between men and women, captured in the different roles they play.

Daily CA One-Liners: February 17

• The country’s first solid waste-to-hydrogen plant will be set up in Pune at a cost of over Rs 430 crore
• The Ministry of Ports, Shipping and Waterways (MoPSW)has set up a high level panel for formulating the guidelines for the operationalisation of Ro-Ro (Roll-on, Roll-off) and Ro-Pax ferry services
• ReNew Power, a pioneer in the renewable energy space, has made a strategic decision to rebrand itself as ReNew
• Union Cabinet has given approval to the signing of an MoU between India and South Africa for cooperation in the disability sector
• Innovative Horticulture for Self Reliance” will be the theme of the four-day National Horticultural Fair (NHF) 2023 being organised in Bengaluru from February 22
• Central Board of Direct Taxes has introduced fresh norms for filing of statements for equalisation levy by companies that would allow the tax commissioner to reject returns that they deem to be invalid and has said that personal appearance of assessees for clarifications is not needed
• Public sector general insurance companies like New India, United India, National Insurance, Oriental Insurance and General Insurance Corporation Re have Rs 348-crore exposure in Adani Group companies
• India’s wheat production during the current crop year (July 2022-June 2023) has been estimated at a record high of 112.18 million tonnes (mt) – 5 per cent higher than 106.84 mt last crop year.
• IIMs Indore and Lucknow have secured their place in the Master of Business Administration (MBA) 2023 rankings released by the Financial Times.
• Recently, birders, wildlife enthusiasts and forest officials have sighted 145 different bird species during the first Sundarban Bird Festival.
• Singapore has been awarded the hosting rights for the 2025 World Aquatics Championships, replacing Russian city Kazan which is hoping to secure the event in 2029
• The third edition of Khelo India Winter Games concluded in Gulmarg with a grand function attended by over 2,000 participants, including players, tourists and officials of different departments

• HDFC Bank has launched a pilot project under the Reserve Bank of India’s (RBI’s) Regulatory Sandbox program in partnership with Crunchfish, to test offline digital payments for merchants and customers.
• The Reserve Bank of India (RBI) updated its ‘Alert List’ for the public on unauthorised forex trading platforms to include 14 more names of entities/platforms/ websites which appear to be promoting unauthorised entities/Electronic Trading Platform (ETPs), including through advertisements of such unauthorised entities or claiming to be providing training/advisory services
• South Indian Bank has signed a Memorandum of Understanding (MoU) with Maruti Suzuki to provide dealer finance options and custom auto retail financing solutions for customers.
• South Indian Bank has launched a wealth management platform – SIB Wealth in partnership with Geojit Financial Services Ltd
• South Indian Bank had signed the agreement with Telangana’s government’s Directorate of Treasuries & Accounts (DTA) (Cyber Treasury), Hyderabad, Telangana. 
• Russia supplied India with around $13 billion of arms during the past 5 years.
• Drugmaker Pfizer Limited’s Board of Directors has appointed Ms Meenakshi Nevatia as an Additional Director and the Managing Director (MD) for a period of 5 years with effect from April 3, 2023.
• Chinese company Alibaba is learnt to have sold 3.16% direct stake or 2.1 crore shares in digital financial services firm One97 Communications Limited (OCL), which operates under Paytm brand, for about Rs 13,600 crore in a block deal.
• Kotak Mahindra Bank Limited (KMBL) has entered into binding share purchase agreement(s) to acquire 100% of equity shares of Sonata Finance Pvt Ltd (SFPL), a Non-Banking Finance Company – Micro Finance Institution (NBFC-MFI), from existing shareholders for a cash consideration of about ₹537 crore.
• HDFC Bank has executed an agreement to sell its entire stake 9.95% (1,65,731 Equity Shares) in Softcell Technologies Global Private Limited (STGPL) at ₹600.36 per equity share for a consideration of ₹9.94 crore.
• Tech Mahindra has signed a Memorandum of Understanding (MoU) with the Ministry of Communication and Information Technology (MCIT), Saudi Arabia to establish a Data & Artificial Intelligence (AI) and Cloud Center of Excellence (CoE) in Riyadh.
• Noted painter & late actor-filmmaker Guru Dutt’s sister, Lalitha Lajmi, Passed away at the age of 90.