Daily Current Affairs March 09 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

CBDT gives five-year tax exemption for insolvency regulator IBBI

• In a big boost to the insolvency regime, the Central Board of Direct Taxes (CBDT) has granted tax exemption to certain specified incomes of the insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) for 5 financial years starting from the current fiscal.
• The tax exemption will be available for the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027.
• These incomes include grants-in-aid received from the Central Government, fees received under the IBC, fines collected under the IBC and any interest income on these receipts.
• In September 2022, IBBI imposed a regulatory fee of 0.25% on corporate insolvency resolution process (CIRP).
• It had also imposed a 1% regulatory fee on third-party service providers and professionals appointed by Insolvency Professionals (IPs).

About CBDT : 

• The CBDT is an administrative body of the Income Tax Department.
• It is a statutory body established as per the Central Board of Revenue Act, 1963.
• It is administered by the Department of Revenue under the Ministry of Finance.

About IBBI : 

• Established : 1 October 2016
• Headquarters : New Delhi, Delhi, India
• Chairperson : Ravi Mittal.
• Parent Department : Ministry of Corporate Affairs
• IBBI is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
• It is responsible for the implementation of the IBC code.

European Investment Bank & IREDA explore a partnership to finance Renewable Energy & green hydrogen projects in India

• The European Investment Bank (EIB) and state-owned Indian Renewable Energy Development Agency (IREDA) Limited are exploring a partnership on the financing of renewable energy and green hydrogen projects in India.
• This comes after EIB global director Maria Shaw-Barragan met IREDA Chairman & Managing Director (CMD) Pradip Kumar Das at IREDA’s corporate office.

About the Partnership : 

• The collaboration would help in opening up new opportunities for the country’s citizens and advancing the Government’s goal of achieving 50% of its installed energy capacity from non-fossil fuels by the year 2030.
• It would help to create new opportunities in the emerging segment of renewable energy, green hydrogen, green ammonia, e-mobility, battery storage, etc.

About EIB : 

• Founded : 1958
• Headquarters : Kirchberg, Luxembourg
• President : Werner Hoyer

About IREDA : 

• Established : 1987
• Headquarters : New Delhi, Delhi, India
• CMD : Pradip Kumar Das
• It is a statutory and autonomous organisation under the Government of India and administratively controlled by the Ministry of New and Renewable Energy (MNRE).

 World Bank Commits $1 Billion To India For Public Healthcare Infrastructure     

• The Government of India (GoI) and the World Bank signed two complementary loans of $500 million Public Health Systems for Pandemic Preparedness Program (PHSPP) & a $500 million Enhanced Health Service Delivery Program (EHSDP) to support and improve public healthcare infrastructure in India.
• Through this combined financing of $1 billion, the Bank will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021.
• The agreement was signed by Rajat Kumar Mishra, Additional Secretary, Department of Economic Affairs, Ministry of Finance on behalf of the Government of India and Auguste Tano Kouamé, Country Director, India, World Bank.
• Both the PHSPP and EHSDP loans from the International Bank for Reconstruction and Development (IBRD) have a final maturity of 18.5 years including a grace period of 5 years.

Key Highlights : 

• One of the loans will prioritise health service delivery in 7 states – Andhra Pradesh(AP), Kerala, Meghalaya, Odisha, Punjab, Tamil Nadu(TN) and Uttar Pradesh (UP) in addition to the national level interventions.
• The $500 million PHSPP will support the government’s efforts to:
• Prepare India’s surveillance system to be ready to detect and report epidemics of potential international concern, ensure rapid response, and prevent emergence of pathogens.
• The $500 million EHSDP will support Government’s efforts to:
• Strengthen service delivery through a redesigned primary health care model, which includes improved household access to primary healthcare facilities, stronger links between each household and its primary care facility through regular household visits and risk assessment of noncommunicable diseases
• According to the World Bank estimates, India’s performance on the health front has improved over time.
• Life expectancy in India at 69.8 in 2020, up from 58 in 1990 is higher than the average for the country’s income level.

About World Bank : 

• Established : December 1944
• Headquarters : Washington, D.C., United States
• President : David Malpass

PNB makes Positive Pay System mandatory for cheque payments worth Rs 5 lakh and above

• In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above.
• This will come into effect from April 5, 2023.
• Earlier, the mandatory submission of cheque details in PPS was set at Rs 10 lakh and above.

What is PPS?·   

• The PPS is a system developed by the National Payments Corporation of India (NPCI), which requires customers to reconfirm essential details (account number, cheque number, cheque alpha code, issue date, amount, and beneficiary name) when issuing cheques of a certain amount.
• Customers can use the PPS facility by providing the cheque details through the Branch office, Online Banking for individuals and businesses, Mobile Banking (PNB ONE), or SMS Banking, adding the details to be submitted one working day prior to cheque presentation/clearing date.
• As per Reserve Bank of India (RBI) guidelines, PNB had introduced PPS for cheques of Rs 50,000 and above presented in CTS clearing from January 1, 2021.
• RBI had recommended that availing this facility is at the account holder’s discretion and banks may consider making it mandatory for cheques of Rs 5 Lakh and above.

About PNB : 

• Founded : 19 May 1894
• Headquarters : Delhi, India
• MD & CEO : Atul Kumar Goel

• Tagline : Name You Can Bank Upon

CURRENT AFFAIRS: NATIONAL NEWS

Shri Hardeep Singh Puri To Launch Hydrogen-Based Advanced FCEV

• Hydrogen-based advanced Fuel Cell Electric Vehicle (FCEV) launched by Union Minister Shri Hardeep Singh Puri in New Delhi.
• The launch of the FCEV is an effort of the centre under its commitment toward cleaner energy and low-carbon pathways.
• This project is the same as the one launched earlier at Kevadia in Gujarat.
• Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said as part of the central scheme the government wants to introduce city buses running on green hydrogen.
• He had said that the government will use these buses in modal urban centre.
• Last month, PM Modi flagged off Oil India Limited’s indigenously developed hydrogen fuel cell-based e-bus at the India Energy Week in Bengaluru.

Government approves nano liquid DAP fertiliser for farmers

• Nano liquid DAP fertilizer approved by the Government for farmers.
• Prime Minister Narendra Modi has stated that the approval of Nano liquid DAP (di-ammonium phosphate) fertilizer will make life easier for farmers.
• Government approval for Nano Liquid DAP fertilizer w ill benefit farmers and make the country Atmanirbhar.
• Union Minister for Chemicals and Fertilisers Dr Mansukh Mandaviya said that the Ministry of Agriculture has also approved it.
• Nano DAP will be produced by IFFCO and it will prove to be a revolutionary change for the country’s agriculture and economy.
• In December, the government had previously stated that IFFCO would soon introduce nano DAP at a price of Rs 600 for a 500-ml bottle.
• This move will help India to save foreign exchange and significantly reduce government subsidies.
• One bottle will be equal to one bag of DAP, which currently costs Rs 1,350.
• In May 2022, PM Modi inaugurated the world’s first Nano Urea (Liquid) Plant in Gujarat.
• Nano Urea is a nanotechnology based urea.
• It has a desirable particle size of about 20-50 nm and more surface area and a number of particles in comparison to conventional urea.

Union Minister Renuka Singh Saruta inaugurates Mara Tribal Girls’ Hostel in Lunglei in Mizoram

• Union Minister of State for Tribal Affairs, Renuka Singh S aruta inaugurated the Mara Tribal Girls’ Hostel in Lunglei in Mizoram.
• On the occasion, the Minister said that the Union Government has been implementing many schemes and measures to protect women’s dignity and their rights.
• The Government is also encouraging women to stand up for their rights.
• This hostel building will help tribal girls to gain education and progress and help build a prosperous nation.

CURRENT AFFAIRS : STATE NEWS

Union Minister Ashwini Vaishnaw releases ‘Go Green, Go Organic’ cover for Sikkim                    

• Union Minister Shri Ashwini Vaishnaw and 4 Sikkim ministers released a unique cover of the Department of Posts, ‘Go Green, Go Organic‘ for Sikkim.
• This release is a tribute to the rich culture of Sikkim and its contributions to the country’s agriculture sector.
• It is a recognition of Sikkim’s efforts towards promoting organic farming and sustainable development.

Note : 

• Sikkim has the title of the ‘first 100% organic state’ in the world.
• Meanwhile, Sikkim has also won the prestigious Future Policy Gold Award from the UN Food and Agriculture.
• Sikkim’s 75,000 hectares of land were converted to organic farmlands.
• All of Sikkim’s farmlands are certified organic, and this has benefited more than 66,000 farming families.

About Sikkim : 

• Governor : Lakshman Acharya
• Chief Minister : Prem Singh Tamang
• Capital : Gangtok

Odisha CM unveils Biju Patnaik’s Dakota aircraft for public viewing in Bhubaneswar                             

• Odisha Chief Minister (CM) Shri Naveen Patnaik unveiled former CM Biju Patnaik’s iconic “Dakota” DC3 (AT-AUI) aircraft for public display at Biju Patnaik International Airport Bhubaneswar.
• This aircraft was used by Biju Patnaik to rescue former Indonesian Vice-President Md. Hatta and former Prime Minister Sutan Sjahrir.
• The iconic Dakota Aircraft belongs to the erstwhile Kalinga Airlines.
• With the efforts of the Odisha government, the Dakota Aircraft was shifted from Netaji Subhas Chandra Bose International Airport (NSCBI) in Kolkata to Bhubaneswar on January 18, 2023 by road.

About Odisha : 

• Governor : Ganeshi Lal
• Chief Minister :Naveen Patnaik
• Capital : Bhubaneswar
• National Park : Simlipal National Park, Bhitarkanika National Park
• Wildlife Sanctuary : Chilika Wildlife Sanctuary, Sunabeda Wildlife Sanctuary
• Dance : Ghumura Dance, Ranapa Dance
• Tribes : Bagata, Banjara, Munda

CURRENT AFFAIRS: BUSINESS NEWS

NSE designates 15 stock brokers as Qualified Stock Brokers

• A list of 15 designated Qualified Stock Brokers (QSBs) issued by the National Stock Exchange (NSE).
• The list includes Zerodha Broking, 5paisa Capital, HDFC Securities, ICICI Securities, Anand Rathi Share and Stock Brokers, Angel One, IIFL Securities, Kotak Securities, and Motilal Oswal Financial Services.
• QSBs are stock brokers that cater to the needs of large number of investors.
• They are entities which can impact investors and the securities market, governance and service standards because of their size and scale of operations.
• They occupy important position in Indian securities market because of their size, trading volumes and amount of clients’ funds handled by them.

Stock brokers are designated as QSBs based on four parameters.

• Number of active clients
• Total available assets of clients
• Trading volumes
• End-of-day margin obligations
• Stock brokers with overall score greater than or equal to five on these four parameters are designated as QSBs.
• The scores are to be determined annually during the financial year, and the stock exchanges will jointly issue the updated list of QSBs after consulting with SEBI.
• Stock brokers which are designated as QSBs are required to meet enhanced obligations.

About NSE

• National Stock Exchange of India Limited is one of the leading stock exchanges in India, based in Mumbai.
• NSE is under the ownership of various financial institutions such as banks and insurance companies.
• Founded: 1992; 31 years ago
• Chairperson: Girish Chandr Chaturvedi
• MD & CEO: Ashishkumar Chauhan

CBDT gives five-year tax exemption for insolvency regulator IBBI

• Certain specified incomes of Insolvency and Bankruptcy Board of India (IBBI) have been granted tax exemption by Central Board of Direct Taxes (CBDT).
• These incomes include grants-in-aid received from Central Government, fees received under the IBC, fines collected under the IBC and any interest income on these receipts.
• The tax exemption will be available for the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027.
• In September 2022, IBBI had imposed a regulatory fee of 0.25% on corporate insolvency resolution process (CIRP).
• It had also imposed a 1% regulatory fee on third-party service providers and professionals appointed by Insolvency Professionals (IPs).

About IBBI

• Insolvency and Bankruptcy Board of India (IBBI) was established on 1 October 2016 under the Insolvency and Bankruptcy Code, 2016.
• It is responsible for the implementation of the IBC code.
• Chairperson of IBBI: Ravi Mittal.

BSE & UN Women India launches a new programme, ‘FinEMPOWER’, at Bombay Stock Exchange

• BSE and UN Women India launched a new programme, ‘FinEMPOWER’, at the Bombay Stock Exchange (BSE).
• It is a year-long joint capacity-building programme between BSE and UN Women to empower women towards financial security.
• In commemoration of International Women’s Day, BSE and UN Women India collaboratively organised the ‘Ring the Bell for Gender Equality ceremony to accelerate investment in women leaders and entrepreneurs at BSE.
• The MD and CEO of BSE, Mr. Sundararaman Ramamurthy, along with Ms. Susan Ferguson, Country Representative of UN Women India, jointly rang the bell for gender equality.

About BSE SENSEX:

• The BSE SENSEX is a free-float market-weighted stock market index of 30 well-established and financially sound companies listed on the Bombay Stock Exchange.
• Established in 1875, BSE Ltd. (formerly known as Bombay Stock Exchange Ltd.), is Asia’s first Stock Exchange.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Ministry of Rural Development extends MoU with NIFT for Design Support for the products made by SHGs of DAY – NRLM

• The Ministry of Rural Development has extended its Memorandum of Understanding with “NIFT” – the National Institute of Fashion Technology for providing design support for the products made by Self Help Groups of the Deendayal Antyodaya Yojana – National Rural Livelihood Mission.
• Shri Charanjit Singh, Additional Secretary, RL, Ministry of Rural Development and Shri Rohit Kansal, Director General, NIFT signed and exchanged the MoU in New Delhi.
• A Non-Financial Memorandum of Understanding (MoU) was signed between NRLM – MoRD and NIFT on October 23, 2019, initially for three years.
• Due to the effect of COVID pandemic 2019, which started soon after the signing of MoU, nothing much could be done under the scope of MoU between NRLM/ SRLMs and NIFT, however, NRLM engaged the services of NIFT for the designing and renovation of the “Saras Gallery”.
• During the last two years, NRLM has taken several initiatives to promote SHG products through several means which include the National level retail outlet as Saras Gallery, presence of SHG products on Amazon, Flipkart, Meesho, Ministry’s own dedicated e-commerce platform as www.esaras.in and regular SarasAajeevika fairs at National and State level.

India, Mexico sign MoU on research, technology and innovation collaborations

• India and Mexico signed an agreement on research, technology and innovation cooperation in New Delhi.
• This particularly includes aerospace, electronics, ocean science, biotech and several major technology sectors involved wh ich further involve healthcare.
• Science and Technology Minister Dr Jitendra Singh and Foreign Minister of Mexico Marcelo Ebrard were present on the occasion.

About Mexico

• Mexico is located in the southern part of North America, to the north of which is the United States.
• Its capital is Mexico City.

NADA and NCERT sign MoU to strengthen value-based sports education amongst school children and teachers

• The National Anti-Doping Agency (NADA) under the Youth Affairs and Sports Ministry; and the National Council of Educational Research and Training (NCERT) signed an MoU to strengthen value-based sports education amongst school children and teachers.
• The key activities that will be undertaken through this MoU include developing e-content in an accessible format on sports values and ethics.
• The UNESCO Value-Based Sports Education toolkit will also be promoted in every classroom under the MoU.
• This MoU will amplify NADA’s outreach efforts multi-fold, in collaboration with NCERT.
• The Ministry of Youth Affairs and Sports said that as a signatory to the UNESCO International Convention Against Doping in Sports, India holds the responsibility to augment clean sports efforts and promote value-based sports education in the country.

About NADA:

• The National Anti-Doping Agency of India is India’s national organisation responsible for promoting, coordinating, and monitoring the doping control program in sports in all its forms.
• Headquarters: New Delhi, Founded: 24 November 2005.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

NDPP leader Shri Neiphiu Rio sworn in as Nagaland Chief Minister for 5th time

• Nationalist Democratic Progressive Party (NDPP) of Nagaland leader Shri Neiphiu Rio was sworn in as the Chief Minister (CM) of Nagaland for the 5th time in Kohima, Nagaland.
• Prime Minister (PM) Shri Narendra Modi with Union Home Minister Shri Amit Shah, BJP National President JP Nadda, were present during the swearing-in ceremony of Rio.
• Mr Taditui Rangkau Zeliang and Mr Yanthungo Patton also took oath as Deputy chief ministers of Nagaland.
• The NDPP- Bharatiya Janata Party (BJP) alliance won a thumping majority of 37 seats in the 60 Assembly Constituencies.
• This is the second consecutive term for NDPP- BJP alliance in the government in Nagaland.
• Notably, a history was scripted in Nagaland when the state elected its first women legislators in its 60 years of statehood.
• Nagaland, which has had 13 Assemblies so far, never had a woman MLA before.
• The two women lawmakers – Hekhani Jakhalu and Salhoutuonuo Kruse of the ruling NDPP defeated the sitting MLAs in Western Angami and Dimapur-III seats respectively.

About Shri Neiphiu Rio : 

• Neiphiu Guolhoulie Rio was born on 11 November 1950 in Kohima, Nagaland.
• He was the only Nagaland CM who won 5 consecutive terms and remained as the longest serving CM of Nagaland.
• Earlier, he served as Nagaland CM for 4 periods (2003-2008, 2008-13, 2013-18, 2018-23)
• He was first elected to Nagaland Legislative Assembly as Congress (I) candidate from the Northern Angami-II constituency during the 7th General Elections of 1989.
• He was appointed the Chairman of Northern Angami Area Council in 1984.
• He was also a Member of Parliament from Nagaland in Lok Sabha from 2014 to 2018.

Awards & Honors : 

• He was awarded The Mother Teresa Millennium award, for his outstanding leadership and contributions to politics in Kolkata in the year 2007.

About Nagaland : 

• Governor : La. Ganesan
• CM: Neiphiu Rio
• Capital : Kohima
• National Park : Intanki National Park
• Wildlife Sanctuary : Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar Wildlife Sanctuary

Shri Conrad K Sangma takes oath as Chief Minister of Meghalaya for 2nd term 

• National People’s Party (NPP) chief Shri Conrad K Sagma took oath as the CM of Meghalaya for a second consecutive term in presence of PM Shri Narendra Modi.
• Sagma took the oath along with 11 others, including 7 MLAs from the NPP,  2 from the United Democratic Party (UDP) and 1 each from BJP and Hill State People’s Democratic Party (HSPDP).

Key Highlights : 

• Marcuise N Marak, Rakkam A Sangma, Ampareen Lyngdoh, Comingone Ymbon and A T Mondal were among those from the NPP who were sworn in as cabinet ministers.
• BJP’s A L Hek, UDP’s Paul Lyngdoh and Kyrmen Shylla, and Shakliar Warjri of the HSPDP also took oath as ministers.
• Further, Prestone Tynsong and Sniawbhalang Dhar, both from the NPP, took oaths as deputy chief ministers.
• The NPP-BJP alliance, with 45 MLAs, will form the next government in Meghalaya.
• With 26 assembly seats, NPP became the single-largest party to win the 2023 polls.

About Conrad K Sagma : 

• He represented the South Tura constituency from 2018.
• He  was also minister of finance,power and tourism, Government of Meghalaya from 2008 to 2009.
• He served as National President of Nationalist Youth Congress.

About Meghalaya : 

• Governor : Phagu Chauhan
• CM : Conrad Sangma
• Capital : Shillong
• National Park : Nokrek National Park
• Wildlife Sanctuary : Nongkhyllem Wildlife Sanctuary

Kuwait’s crown prince re-appointed Mr Sheikh Ahmad Nawaf al-Sabah as Prime Minister

• Kuwait’s crown prince Mr Sheikh Meshal al-Ahmad al-Sabah re-appointed Mr Sheikh Ahmad Nawaf al-Sabah as Prime Minister(PM) of the Kuwait Government and asked him to nominate members of the new cabinet.
• In Jan 2023, PM Mr Sheikh Ahmad Nawaf al-Sabah submitted the resignation of his cabinet to the crown prince due to increased tensions with the parliament.
• It was the 5th time a Kuwaiti government has resigned in just over 2 years.
• Kuwait bans political parties but has given its legislature more influence than similar bodies in other Gulf monarchies.

About Sheikh Ahmad Nawaf al-Sabah : 

• He is a Kuwaiti politician and military official.
• He was appointed Deputy Chief of the National Guard with the rank of Minister on November 19, 2020
• In Mar 2022, he was the First Deputy Prime Minister and Minister of Interior.

About Kuwait : 

• Capital : Kuwait City
• Currency : Kuwaiti dinar

CURRENT AFFAIRS : DEFENCE NEWS

Indo-France Joint Military Exercise – Frinjex-2023 to commence at Kerala

• The maiden Joint Military Exercise FRINJEX-23 between Indian Army and French Army will be conducted at Pangode Military Station in Thiruvananthapuram, Kerala on March 7-8, 2023.
• For the first time, armies of both countries are engaging in this format with each contingent comprising a Company Group.

Aim : 

• To enhance interoperability, coordination and cooperation between both forces at tactical level.
• The theme for the exercise is based on “Humanitarian Assistance and Disaster Relief Operations in a Contested Environment”.

Key Highlights : 

• Thiruvananthapuram-based Indian Army unit and the French 6th light armoured brigade will take part in this exercise.
• The French contingent is part of the French Marine Regiment on board the DIXMUDE mission.
• The Joint exercise will further cement defence cooperation with France which is a crucial aspect of the overall Indo-France strategic partnership.
• The French and Indian navies took part in a bilateral naval exercise, Varuna 2023 from 16 to 20 January 2023.
• India and France Air Force participated in the Garuda VII exercise in Jodhpur from October 26 to November 12, 2022.

About France : 

• President : Emmanuel Macron
• Prime Minister : Élisabeth Borne
• Capital : Paris

Russian submarine  Launched Cruise Missile From Sea of Japan in a Drill

• A Russian submarine in the Sea of Japan has hit a land target over 1,000 kilometres (621 miles) away with a Kalibr cruise missile in a drill.
• Moscow (Russia) has used Kalibr missiles to attack multiple targets in Ukraine, including power stations, by launching them from ships and submarines in the Black Sea.

About Kalibr Missile:

• It is a Russian family of the ship-, submarine-, surface- and air-launched cruise missiles that can engage hostile warships and land targets.
• This family includes a variety of different missiles that share common design features.

Features : 

• It ranges between 200 km to 2500 km depending on the type.
• All missiles have the same diameter of 533 mm.
• It fits in a standard torpedo tube of a submarine.
• These missiles can carry conventional or nuclear warheads.
• These missiles use inertial guidance with satellite navigation update
• Most Kalibr family missiles accelerate in terminal stage to supersonic speed in order to avoid enemy defences.

First ever Privately Manufactured Indigenised fuze of ASW rocket handed over to Indian Navy           

• The Indian Navy (IN) received for the first time a fully indigenised fuze YDB-60 for underwater Anti Submarine Warfare (ASW) Rocket RGB(Rocket Guided Bomb) -60 used from major warships, through a private manufacturer M/s Economic Explosives Limited (EEL), Nagpur, Maharashtra, India.
• This would be the first time the IN has placed a supply order for underwater ammunition fuze on an Indian Private industry.

Key Highlights : 

• Shri Satyanarayan Nuwal, the CMD of M/s EEL, Nagpur handed over the first consignment of the fuze to Vice Admiral SN Ghormade, Vice Chief of Naval Staff (VCNS).
• All technical assistance to EEL has been provided by the Directorate General of Naval Armament (DGONA) and Directorate General of Naval Armament Inspection (DGNAI), Indian Navy.
• The Union Cabinet accorded approval to sign a contract with Larsen and Toubro (L&T) for the acquisition of three cadet training ships at an overall cost of Rs 3,108.09 crore, under Buy (Indian-Indigenously Designed, Developed and Manufactured) category.
• The delivery of ships is scheduled to commence from 2026.

About MoD : 

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

CURRENT AFFAIRS: SPORTS NEWS

Red Bull’s Max Verstappen wins Bahrain Grand Prix

• Defending champion Max Verstappen and Red Bull flexed their muscles at the start of the 2023 season, as the Dutchman won the season-opening race in Sakhir Bahrain Grand Prix by over 10 seconds over his teammate Sergio Perez.
• It was the first time he had won in Bahrain and also the first time he had triumphed in a Formula One opener.
• Seven times world champion Lewis Hamilton was fifth for Mercedes with Canadian Lance Stroll giving Aston Martin a bumper points haul with sixth.

CURRENT AFFAIRS : OBITUARIES

Classical Dancer & Padma Awardee Dr. Kanak Rele passed away                                                           

• A World renowned Indian classical dancer & Mohiniyattam exponent Kanak Y. Rele passed away in Mumbai, Maharashtra at the age of 85.

About Dr. Kanak Rele : 

• Dr.Kanak Rele was born on 11 June 1937,in Gujarat, British India.
• She was an Indian dancer, choreographer, and academic best known as an exponent of Mohiniyattam.
• She was the founder-director of the Nalanda Dance Research Centre, Mumbai, Maharashtra in 1966 & the founder-principal of the Nalanda Nritya Kala Mahavidyalaya in 1972 in Mumbai.
• She authored many books include Mohinī Āțțam: The Lyrical Dance^, Bhaava Niroopanna^, A Handbook of Indian Dance Terminology

Awards & Honors : 

• In 1990, she received the Padma Shri, the fourth-highest civilian award in the Republic of India for arts.
• In 2006, the Government of Madhya Pradesh conferred the Kalidas Samman on her for her contributions to and excellence in the field of classical dance.
• In 2013, she was conferred the Padma Bhushan by the Government of India for arts.

Daily CA One- Liner: Mar 9

• Hydrogen-based advanced Fuel Cell Electric Vehicle (FCEV) launched by Union Minister Shri Hardeep Singh Puri in New Delhi
• Nano liquid DAP fertilizer approved by the Government for farmers.
• Union Minister of State for Tribal Affairs, Renuka Singh S aruta inaugurated the Mara Tribal Girls’ Hostel in Lunglei in Mizoram
• A list of 15 designated Qualified Stock Brokers (QSBs) issued by the National Stock Exchange (NSE)
• Certain specified incomes of Insolvency and Bankruptcy Board of India (IBBI) have been granted tax exemption by Central Board of Direct Taxes (CBDT)
• BSE and UN Women India launched a new programme, ‘FinEMPOWER’, at the Bombay Stock Exchange (BSE).
• The Ministry of Rural Development has extended its Memorandum of Understanding with “NIFT” – the National Institute of Fashion Technology for providing design support for the products made by Self Help Groups of the Deendayal Antyodaya Yojana – National Rural Livelihood Mission
• India and Mexico signed an agreement on research, technology and innovation cooperation in New Delhi.
• The National Anti-Doping Agency (NADA) under the Youth Affairs and Sports Ministry; and the National Council of Educational Research and Training (NCERT) signed an MoU to strengthen value-based sports education amongst school children and teachers
• Defending champion Max Verstappen and Red Bull flexed their muscles at the start of the 2023 season, as the Dutchman won the season-opening race in Sakhir Bahrain Grand Prix by over 10 seconds over his teammate Sergio Perez
• In a big boost to the insolvency regime, the Central Board of Direct Taxes (CBDT) has granted tax exemption to certain specified incomes of the insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) for 5 financial years starting from the current fiscal.
• The European Investment Bank (EIB) and state-owned Indian Renewable Energy Development Agency (IREDA) Limited are exploring a partnership on financing of renewable energy and green hydrogen projects in India.
• The Government of India (GoI) and the World Bank signed two complementary loans of $500 million Public Health Systems for Pandemic Preparedness Program (PHSPP) & a $500 million Enhanced Health Service Delivery Program (EHSDP) to support and improve public healthcare infrastructure in India.
• In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above.
• Union Minister Shri Ashwini Vaishnaw and 4 Sikkim ministers released a unique cover of the Department of Posts, ‘Go Green, Go Organic‘ for Sikkim.
• Odisha Chief Minister (CM) Shri Naveen Patnaik unveiled former CM Biju Patnaik’s iconic “Dakota” DC3 (AT-AUI) aircraft for public display at Biju Patnaik International Airport Bhubaneswar.
• Nationalist Democratic Progressive Party (NDPP) of Nagaland leader Shri Neiphiu Rio was sworn in as the Chief Minister (CM) of Nagaland for the 5th time in Kohima, Nagaland.
• National People’s Party (NPP) chief Shri Conrad K Sagma took oath as the CM of Meghalaya for a second consecutive term in presence of PM Shri Narendra Modi.
• Kuwait’s crown prince Mr Sheikh Meshal al-Ahmad al-Sabah re-appointed Mr Sheikh Ahmad Nawaf al-Sabah as Prime Minister(PM) of the Kuwait Government and asked him to nominate members of the new cabinet.
• The maiden Joint Military Exercise FRINJEX-23 between Indian Army and French Army will be conducted at Pangode Military Station in Thiruvananthapuram, Kerala on March 7-8, 2023.
• A Russian submarine in the Sea of Japan has hit a land target over 1,000 kilometres (621 miles) away with a Kalibr cruise missile in a drill.
• The Indian Navy (IN) received for the first time a fully indigenised fuze YDB-60 for underwater Anti Submarine Warfare (ASW) Rocket RGB(Rocket Guided Bomb) -60 used from major warships, through a private manufacturer M/s Economic Explosives Limited (EEL), Nagpur, Maharashtra, India.
• A World renowned Indian classical dancer & Mohiniyattam exponent Kanak Y. Rele passed away in Mumbai, Maharashtra at the age of 85.