Daily Current Affairs April 12 2023

 

CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India to launch centralized portal PRAVAAH for licencing, approval applications

• The Reserve Bank of India (RBI) has planned to launch a secured web-based centralized portal named ‘PRAVAAH’ (Platform for Regulatory Application, Validation AndAutHorisation) to simplify and streamline application processes.

Key Features :

• The portal will show time limits for deciding on the applications/approvals sought.
• The new system will bring greater efficiencies into regulatory processes and facilitate ease of doing business for the regulated entities of RBI.
• The facility will be extended to all types of applications made to RBI across all functions.
• Currently, the application and approval processes for the same take place in varied on-line and off-line modes.

About RBI :

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

State Bank of India to launch new current accounts & savings accounts in FY24 to attract deposits

• The State Bank of India (SBI) is planning to launch new variants of current account (with balances of ₹50,000 and ₹50 lakh) and “Parivar” (family) savings account in FY24 to minimise the gap between deposit growth and credit growth.
• The new plans come in the wake of deposit growth lagging credit growth over the last few quarters.

Aim :

• To increase its customer base and attract more deposits, particularly from retail customers.

Key Highlights :

• Domestic deposits of India’s largest bank grew 8.86% year-on-year (y-o-y) by the end of 2022, while domestic advances were up 16.91% y-o-y.
• SBI expects that its domestic deposits and domestic advances will grow about 12% and 16% y-o-y, respectively, in FY24.
• The low proportion of low-cost current account (CA) deposits (5.6% of the total domestic deposits of ₹40,48,149 crore by the end of December 2022) is a drag on the bank’s net interest margin (NIM).
• To grow retail liabilities, the bank has placed more than 500 RMCAs (Relationship Managers for Current Accounts) in various Circles and launched CA product “Shubharambh” for start-ups.
• The proposed Parivar Savings Bank Account will have additional features like insurance/health check-up /concession in locker rent.
• With the launch of this account, the bank is expecting that customers will open bank accounts for their family members.

About SBI :

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

Asian Development Bank commits Rs 150 crore to Tata Power Delhi Distribution Ltd

• Multilateral funding agency Asian Development Bank (ADB) proposes to subscribe non-convertible debentures worth ₹ 150 crore of Tata Power Delhi Distribution Ltd (TPDDL), to enhance Delhi’s power distribution through grid enhancements.
• Besides, ADB agreed to provide a $2 million grant to partially finance the purchase and integration of a pilot battery energy storage system (BESS).
• The 10-megawatt-hour (MWh) BESS is South Asia’s first grid-scale energy storage project at the distribution transformer level.
• It will enable electricity to be stored and delivered on demand, reducing grid instability, and providing the flexibility to integrate intermittent solar and wind energy resources.

About TPDDL :

• Founded : 4 July 2002
• Headquarters : New Delhi, Delhi, India
• CEO : Ganesh Srinivasan
• TPDDL formerly North Delhi Power Limited (NDPL), is a joint venture between the Government of National Capital Territory (NCT) of Delhiand Tata Power Company Limited, which holds a 51% majority stake in the venture.
• TPDDL is the distribution arm of Tata Power.

About ADB :

• Established : 19 December 1966
• Headquarters : Mandaluyong, Philippines
• President :Masatsugu Asakawa
• Membership : 68 countries

CURRENT AFFAIRS: NATIONAL NEWS

Govt forms panel to examine stalled real estate projects

• The Union Housing and Urban Affairs Ministry has formed a committee to examine issues related to stalled real estate projects.
• The committee has fourteen members.
• It is headed by former NITI Aayog CEO Amitabh Kant.
• The committee will also recommend ways for the completion of stalled real estate projects.
• The committee will submit its report within 6 months from the date of its 1st meeting.
• The committee includes top Central and State government officials.
• It includes the Secretary in the Department of Financial Services in the Union Ministry of Finance, and the Principal Secretary of the Housing and Urban Planning Department of Uttar Pradesh.
• It also includes the chairperson of the Insolvency and Bankruptcy Board of India.
• In April 2022, the Central Advisory Council decided to form a Committee to examine all the issues related to stalled projects.

India elected as member of UN Statistical Commission Narcotic Drugs :

• The United Nations Economic and Social Council (ECOSOC) has elected India as member to the UN Statistical Commission, the Commission on Narcotic Drugs, and the UN HIV/AIDS Program Coordinating Board (UNAIDS).
• All three are important subsidiary bodies of the Economic and Social Council of the United Nations.
• The Drug Prevention Commission monitors the implementation of international drug control treaties.
• The United Nations AIDS Program Coordinating Board provides strategic guidelines for the prevention of HIV/AIDS.
• The Statistics Commission is the apex body overseeing international statistical activities and is responsible for setting standards in this field.
• India has been elected to the highest statistical body of the United Nations for a term of 4 years, which will start from 1 January 2024.
• India was last elected a member of this commission in 2004.
• India won a landslide victory in the concluded United Nations Statistical Commission election by securing 46 out of 53 votes, leaving behind rivals South Korea (23), China (19) and the UAE (15).

About UNSC:

• United Nations Statistical Commission is the apex body of the global statistical system which brings together the chief statisticians of the member states around the world.
• It was established in 1947.
• It is the highest decision-making body for international statistical activities, responsible for the creation of concepts and methodologies, as well as their national and international implementation.
• The commission consists of 24 member countries of the United Nations elected on the basis of equal geographic distribution by the United Nations Economic and Social Council.

Amit Shah Unveils 54-Feet-Tall Statue Of Lord Hanuman At Gujarat

• On the occasion of Hanuman Jayanti Union Home Minister Amit Shah unveiled a 54-feet tall statue of Lord Hanuman at Sarangpur temple in Botad district of
• Created by Rajasthan-origin artist NareshbhaiKunawat, the 54-feet tall, 30,000 kg ‘Panchdhatu’ material-made statue of Lord Hanuman will be clearly visible from a great distance due to its height.
• The entire project is planned in the backyard of the temple in an area of 1, 35,000 square feet.
• The Union Minister will also inaugurate Bhojan Shala of Sarangpur temple.
• April 6 is also the foundation day of the Bharatiya Janata Party (BJP), which came into existence in 1980.
• Amit Shah as well as other BJP leaders including Prime Minister Narendra Modi and party’s national president Jagat Prakash Nadda wished party workers on the day.

Govt approves Rs 30 crore to establish Vaikunth Mehta National Institute of Cooperative Management

• The Ministry of Cooperation has approved and released a one-time grant-in-aid of 30 crore rupees to establish the Vaikunth Mehta National Institute of Cooperative Management.
• This grant will be used for creating essential infrastructure for students and trainees.
• The Ministry said, the Government is committed to the overall development and prosperity of the Cooperative sector and the people associated with it.

About Vaikunth Mehta National Institute

• Vaikunth Mehta National Institute of Cooperative Management was established in 1967 and is an apex Centre for Cooperative Management Training, Research and consultancy.
• It also organises training programmes for cooperative sector officials from SAARC countries, Ethiopia, Mauritius and other countries.

CURRENT AFFAIRS : INTERNATIONAL NEWS

India grants $2 million to African Union Transition Mission in Somalia

• India’s Permanent Representative to the United Nations Mr Ruchira Kamboj handed over the contribution of USD 2 million to the United Nations Trust Fund in support of the African Union Transition Mission in Somalia (ATMIS).
• With this, the Government of India (GoI) reiterates New Delhi’s commitment to peace and stability in Somalia and the Horn of Africa.
• Earlier, India had contributed USD 4 million to the African Union Mission in Somalia (AMISOM).

About ATMIS :

• ATMIS was established on 1 April 2022 pursuant to the Security Council resolution 2628 (2022) and African Union Peace and Security Council Communique 1068th of 8 March 2022

Aim :

• To support the implementation of the Somali Transitional Plan towards a full handover of security responsibility to the Somali security forces and institutions by the end 2024.
• The primary role of ATMIS is to reduce the threat posed by the terrorist group Al-Shabaad.

About Somalia :

• President :Hassan Sheikh Mohamud
• Prime Minister :Hamza Abdi Barre
• Capital :Mogadishu
• Currency :Somali shilling

CURRENT AFFAIRS : STATE NEWS

World’s first Asian King Vulture Conservation & Breeding Center to be inaugurated in Uttar Pradesh

• Uttar Pradesh’s(UP) Jatayu Conservation and Breeding Centre (JCBC) in Maharajganj district, the world’s first conservation and breeding centre built and designed exclusively for the conservation of Asian king vulture, is ready to be inaugurated by UP Chief Minister (CM) Shri Yogi Adityanath.

Key Highlights :

• The infrastructure creation started in 2021.
• The 1st phase of the centre was meant to have complete infrastructure in place.
• The 2nd phase is about breeding of vultures.
• The centre will have a total 10 vultures for breeding.
• The forest department has partnered with Bombay Natural History Society for technical guidance.

About JCBC :

• The JCBC is spread over 1.5 hectares in the Gorakhpur forest division.
• It is a state-of-the-art center, worth around Rs 15 crore, with multiple aviaries (cage for birds) for vultures, like breeding and holding aviaries, nursery aviaries for juveniles, hospital and recovery aviaries for those needing medical help.
• It is a 15-year project which aims to raise at least 40 vultures.

About Asian king vulture :

• The Asian king vulture (Sarcogyps calvus) also known as red-headed vulture is localized primarily to northern India.
• In 2004, the species was uplisted to ‘near threatened’ from ‘least concern’ by the International Union for Conservation of Nature (IUCN).
• In 2007, it was uplisted to ‘critically endangered’ in the IUCN Red List.
• The widespread use of the Non steroidalanti inflammatory drug (NSAID)diclofenac in veterinary medicine in India has caused its population to collapse in recent years.
• Veterinary usage of diclofenac has been banned in India.

About UP :

• Governor :Anandiben Patel
• Chief Minister :Yogi Adityanath
• Capital :Lucknow

Tamil Nadu Governor Shri RN Ravi grants assent to bill against online gambling

• Tamil Nadu (TN) Governor Shri RN Ravi approved a Bill to ban online gambling, including online rummy and poker with stakes.
• This will be a big blow to the nascent but fast-growing skill gaming sector.
• The bill was adopted by the state Assembly for a second time on March 23.
• The move comes after the TN Assembly once again unanimously adopted the bill to ban online gambling after the state Governor returned it to the government for reconsideration.
• On September 26, 2022, the TN Cabinet headed by Chief Minister Shri MK Stalin approved an Ordinance to ban online gaming in the State.

Key Highlights :

• The legislation passed by the TN legislature incorrectly categorized Rummy and Poker as a game of chance.
• The Indian gaming market is projected to grow from $2.2 billion currently to $7 billion by 2026.
• With 3 gaming unicorns, 400-plus gaming companies, 15,000-plus gaming developers, and around 420 million gamers in the fray.

About Tamil Nadu :

• Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park : Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park
• Wildlife Sanctuaries : Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird Sanctuary
• Tiger Reserve : Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Jammu & Kashmir Lieutenant Governor Manoj Sinha inaugurates

Jammu’s first Tulip Garden at Sanasar

• Jammu and Kashmir (J&K) Lieutenant Governor(LG) Shri Manoj Sinha, who inaugurated the Jammu’s first Tulip garden, spread over 5 acres and having 2.75 lakh bulbs of 25 different varieties, was opened to the public in Sansar, Ramban district, J&K.
• It will provide a major impetus to tourism and trade activities.
• As a “tourism mission’ initiative, 75 new destinations, 75 religious sites, 75 new cultural and heritage sites and 75 new tracks are being developed in the Union Territory for opening up new economic avenues to fulfil the aspirations of the people.
• Rs 447 crore had been allocated to the tourism sector this year to develop J&K as a modern and smart destination.

About J&K :

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

CURRENT AFFAIRS: BUSINESS NEWS

Jakson Green partners with NTPC to set up methanol plant

• Jakson Green has won a project from state-run NTPC to set up a methanol synthesis facility at its Vindhyachal thermal power plant (TPP) in Madhya Pradesh.
• The methanol synthesis plant will be a part of NTPC’s Vindhyachal TPP with a production capacity of 10 tonnes per day (TPD).
• Methanol is a cleaner alternative fuel that can be used for various purposes including power generation and transportation.
• Further, it will help India meet its Paris Climate Change Agreement obligation to reduce carbon emissions by 33-35 per cent by 2030.
• Last October, Jakson Green signed a Memorandum of Understanding (MOU) with the Rajasthan government to invest about ₹22,400 crore in the State to set up a green hydrogen and green ammonia project in phases.

WTO revises upwards global trade forecast to 1.7% for 2023

• As per fresh estimates made by the WTO Global trade in goods is likely to grow by 1.7 per cent in 2023, following a 2.7 per cent growth in 2022, hit by the effects of the long-drawn war in Ukraine, high inflation, tighter monetary policy and financial market uncertainty.
• The revised growth projection is, however, better than the 1 per cent growth estimated earlier by the WTO, as the relaxation of Covid-19 restrictions in China has improved expectations.
• Real global GDP growth at market exchange rates is estimated at 2.4 per cent for 2023 against 2.3 per cent predicted earlier.
• For Indian exporters, who have been fighting a demand slowdown since July last year and may just about manage to slightly exceed FY2022 exports of $422 billion in FY2023, the going is likely to continue to be rough in the new fiscal.

About WTO:

• The World Trade Organization is an intergovernmental organization that regulates and facilitates international trade.
• Founded: 1 January 1995,
• Headquarters: Geneva, Switzerland.

Paradip Port handles record annual traffic of 135.36 MMT

• Paradip Port has handled a record annual traffic of 135.36 million metric tonnes in 2022-23 against 116.13 million metric tonnes in the last financial year.
• PL Haranadh, Chairman, Paradip Port Authority has given this information during a press conference in Bhubaneswar.
• The Pradip port has recorded the highest-ever growth of 19.2 million metric tonnes (16.56 per cent) of traffic in a single financial year.
• In 2022-23, Paradip port recorded the highest-ever coastal shipping traffic of 58.42 million metric tonnes.
• It has increased by 16.22 million metric tonnes as compared to the previous year.
• The Paradip port would become the hydrogen hub port of the country.
• Paradip Port is also planning to develop a 10 MW solar power plant to power the operations of the port.
• It is also planning to add another 4 berths.
• Mumbai’s Jawaharlal Nehru Port is the largest in India.

CURRENT AFFAIRS: RANKING AND REPORTS

Delhi airport emerges as the world’s 9th busiest airport in 2022

• According to Airports Council International (ACI) list, Delhi Airport with more than 5.94 crore passenger traffic has become the ninth busiest airport in the world in 2022.
• Hartsfield-Jackson Atlanta International Airport has topped the list with 93.7 million
• Dallas Fort Worth Airport and Chicago O’Hare Airport are in the second and third positions respectively.
• Dubai Airport is in the fifth spot with 66.1 million passenger traffic.
• Delhi’s Indira Gandhi International Airport (IGIA) is the only airport in the top 10 list from South and South East Asia.
• Delhi Airport was ranked 13th in 2021 and 17th in 2019.
• Delhi International Airport Ltd (DIAL) manages Indira Gandhi International Airport.
• The top 10 airports in the total passenger traffic represent 10 per cent of the global traffic.
• The global passenger traffic in 2022 reached near to 7 billion, with an increase of 53.5 per cent from 2021.

World Energy Transitions: Outlook 2023 report.

• International Renewable Energy Agency released ‘World Energy Transitions: Outlook 2023’ report.
• This report has highlighted that significant progress has been made in the energy transition, particularly in the power sector.
• According to the report, renewables contributed 83 per cent to the global power additions in 2022.
• As per the report, the deployment of renewables should be increased from 3,000 gigawatt (GW) to 10,000 GW by 2030 to keep the rise of temperature below 1.5 degrees Celsius.
• The report pointed out that renewable energy installation is limited to certain parts of the world.
• Two-thirds of all the renewable energy installation were in China, the European Union and the United States.
• Africa’s share of total renewable energy capacity addition in 2022 was only 1 per cent.
• 85 per cent of global renewable energy investment has benefitted less than 50 percent of the world’s population.
• Global investment in energy transition technologies crossed the mark of $1.3 trillion in 2022.
• Around USD 1 trillion of planned annual fossil fuel investment by 2030 must be redirected towards energy transition technologies and infrastructure.
• The Covid-19 pandemic and the effects of the Ukraine crisis have further increased the challenges in the energy transition.
• IRENA outlines three priority pillars of the energy transition, which are as follows: Physical infrastructure, Policy and Regulatory enablers, Well-skilled workforce
• If Nationally Determined Contributions (NDCs), long-term low greenhouse gas emission development strategies (LT-LEDs) and net-zero targets are fully implemented then carbon dioxide (CO2) emissions will reduce by 6 percent by 2030.

CURRENT AFFAIRS: SPORTS NEWS

PV Sindhu loses to Gregoria Tunjung of Indonesia in final of Madrid Spain Masters

• The two-time Olympic medallist and former World Badminton Champion P.V. Sindhu has lost to Indonesia’s Gregoria Mariska Tunjung in the summit clash of the Madrid Spain Masters.
• Sindhu lost in straight sets 8-21, 8-21.
• In Men’s singles, Kenta Nishimoto has won the final.
• The ace shuttler has defeated second seed KantaTsuneyama 15-21, 21-18, 21-19 in the all-Japanese men’s singles final.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China’s Space Pioneer launched first liquid-fueled commercial rocket Tianlong-2 into orbit

• The Chinese space startup ‘Space Pioneer (also known as Beijing Tianbing Technology Company Limited)successfully launched ‘Tianlong-2 rocket (TL-2) into orbit from China’s Jiuquan Satellite Launch Centerlocated in the Gobi Desert, Inner Mongolia.
• This is the first time that a liquid fueled rocket was launched into orbit by a Chinese aerospace company.
• Also, it was the first time that a startup company Space Pioneer successfully reached orbit on its first attempt.

About Tianlong-2 :

• The Tianlong-2 rocket is also known as Sky Dragon-2.
• Tianlong-2 is a three-stage rocket that is capable of carrying2,000 kilograms (2 tons) to low Earth orbit or 1,500 kg (1,5 tons) to a 500-kilometer-altitude sun-synchronous orbit.
• The 35-meter-wide, 32.8-meter-tall rocket is fueled by coal-based kerosene.
• From this sun-synchronous orbit the satellite, named Ai TaikongKexue or “Love Space Science” and developed by Hunan Hangsheng Satellite Technology Co., Ltd, will test its remote sensing capabilities.
• Recently, Kerosene derived from coal was approved by China’s state-owned main space contractor the China Aerospace Science and Technology Corporation (CASC).

About China :

• President :Xi Jinping
• Capital :Beijing
• Currency :Renminbi

Twitter’s iconic blue bird logo replaced with ‘Doge’ meme of Dogecoin blockchain and cryptocurrency

• The classic blue bird logo of the social media giant Twitter, has been replaced with the “doge” meme.
• The ‘doge’ meme has the face of a Shiba Inu.
• The Shiba Inu dog meme is also the logo of the Dogecoin cryptocurrency, which Musk has been vocal about supporting.
• The change to the Doge logo is only visible on the web version of Twitter and not on the Twitter app.
• Twitter CEO Elon Musk, who took control of the social media giant in October 2022 under a $44 billion deal, confirmed the change in logo from Blue Bird to Doge via his Twitter account.

About Twitter, Inc :

• Founded : March 21, 2006
• Headquarters : San Francisco, California, United States
• CEO :Elon Musk

Daily CA One- Liner: April 12

• The Reserve Bank of India (RBI) has planned to launch a secured web-based centralised portal named ‘PRAVAAH’ (Platform for Regulatory Application, Validation AndAutHorisation) to simplify and streamline application processes.
• The State Bank of India (SBI) is planning to launch new variants of current account (with balances of ₹50,000 and ₹50 lakh) and “Parivar” (family) savings account in FY24 to minimise the gap between deposit growth and credit growth.
• Multilateral funding agency Asian Development Bank (ADB) proposes to subscribe non-convertible debentures worth ₹ 150 crore of Tata Power Delhi Distribution Ltd (TPDDL), to enhance Delhi’s power distribution through grid enhancements.
• India’s Permanent Representative to the United Nations Mr Ruchira Kamboj handed over the contribution of USD 2 million to the United Nations Trust Fund in support of the African Union Transition Mission in Somalia (ATMIS).
• Uttar Pradesh’s(UP) Jatayu Conservation and Breeding Centre (JCBC) in Maharajganj district, the world’s first conservation and breeding centre built and designed exclusively for the conservation of Asian king vulture, is ready to be inaugurated by UP Chief Minister (CM) Shri Yogi Adityanath.
• Tamil Nadu (TN) Governor Shri RN Ravi approved a Bill to ban online gambling, including online rummy and poker with stakes.
• Jammu and Kashmir (J&K) Lieutenant Governor(LG) Shri Manoj Sinha, who inaugurated the Jammu’s first Tulip garden, spread over 5 acres and having 2.75 lakh bulbs of 25 different varieties, was opened to the public in Sansar, Ramban district, J&K.
• The Chinese space startup ‘Space Pioneer (also known as Beijing Tianbing Technology Company Limited)successfully launched ‘Tianlong-2 rocket (TL-2) into orbit from China’s Jiuquan Satellite Launch Centerlocated in the Gobi Desert, Inner Mongolia.
• The classic blue bird logo of the social media giant Twitter, has been replaced with the “doge” meme.
• Union Housing and Urban Affairs Ministry has formed a committee to examine issues related to stalled real estate projects
• The United Nations Economic and Social Council (ECOSOC) has elected India as member to the UN Statistical Commission, the Commission on Narcotic Drugs, and the UN HIV/AIDS Program Coordinating Board (UNAIDS)
• On the occasion of Hanuman Jayanti Union Home Minister Amit Shah unveiled a 54-feet tall statue of Lord Hanuman at Sarangpur temple in Botad district of Gujarat
• The Ministry of Cooperation has approved and released a one-time grant-in-aid of 30 crore rupees to establish the Vaikunth Mehta National Institute of Cooperative Management
• Jakson Green has won a project from state-run NTPC to set up a methanol synthesis facility at its Vindhyachal thermal power plant (TPP) in Madhya Pradesh
• As per fresh estimates made by the WTO Global trade in goods is likely to grow by 1.7 per cent in 2023, following a 2.7 per cent growth in 2022, hit by the effects of the long-drawn war in Ukraine, high inflation, tighter monetary policy and financial market uncertainty
• Paradip Port has handled a record annual traffic of 135.36 million metric tonnes in 2022-23 against 116.13 million metric tonnes in the last financial year
• According to Airports Council International (ACI) list, Delhi Airport with more than 5.94 crore passenger traffic has become the ninth busiest airport in the world in 2022
• International Renewable Energy Agency released ‘World Energy Transitions: Outlook 2023’ report
• The two-time Olympic medallist and former World Badminton Champion P.V. Sindhu has lost to Indonesia’s Gregoria Mariska Tunjung in the summit clash of the Madrid Spain Masters