Current Affairs

08th February 2023

Top 22 Daily Current Affairs: National & International News:

Here is the Current Affairs 08th February 2023 covering the following news headlines: Yuva Sangam Registration Portal, Appointment Of 5 Judges, Digital Skills Program, Repo rate raised, UPI payments service.

National News

1.Yuva Sangam Registration Portal Launched in New Delhi

·        The Yuva Sangam registration portal was launched in New Delhi.

·        The Yuva Sangam is an initiative of Prime Minister Narendra Modi to build close ties between the youth of the Northeast Region and the rest of India under the spirit of Ek Bharat Shreshtha Bharat.

·        Under the initiative, over 20 thousand youth will travel across the country and gain a unique opportunity for cross-cultural learning.

·        At the launch event, Minister of DoNER, Culture, and Tourism G. Kishan Reddy noted that the Yuva Sangam program will work to connect the youth of the Northeast with the whole country.

2. Centre Notifies Appointment Of 5 Judges To Supreme Court of India, Working Strength Rises To 32

·        The Union government notified the appointment of five new judges to the Supreme Court. With their appointments, the number of judges in the Supreme Court will rise to 32. Currently, the Supreme Court of India has a sanctioned strength of thirty-four Judges and is presently functioning with twenty-seven Judges.

·        Now there remain only two vacancies at the Supreme Court, which could be filled in the coming days if SC Collegium’s January 31 proposal to elevate Allahabad High Court Chief Justice Rajesh Bindal and Gujarat High Court Chief Justice Aravind Kumar as SC judges, is accepted by the president.

The Five Judges are:-

·        Justice Pankaj Mithal, the chief justice of Rajasthan High Court

·        Justice Sanjay Karol, the chief justice of Patna High Court

·        Justice PV Sanjay Kumar, the chief justice of Manipur High Court

·        Justice Ahsanuddin Amanullah, a judge of Patna High Court

·        Justice Manoj Misra, a judge of Allahabad High Court

3. Reliance Jio and GSMA unveil Digital Skills Program in India

·        Reliance Jio in collaboration with GSMA has unveiled a nationwide Digital Skill initiative.

·        This collaborative effort intends to provide rural women and people from low-income groups with training based on their specific needs.

·        As part of this effort, the GSMA and Jio teams collaborated to identify existing digital skill shortages and create need-based, India-specific digital skills training toolkits.

·        Following in-depth user input and field research, the toolkits were created. During the trial phase, more than 1,000 rural men and women from Tamil Nadu and Uttar Pradesh took part and contributed to the improvement of the digital training toolkits.

·        The initiative is currently being implemented in 10 states with an emphasis on targeting women and underrepresented groups.

International News

4. New British stamp with image of King Charles III unveiled

·        New ‘everyday’ stamps featuring the image of King Charles III were unveiled for the first time, the latest item in Britain to get a makeover following the death of Queen Elizabeth.

·        From coins and banknotes and to the official royal cypher used by the government, Britain has been slowly introducing replacements featuring the new monarch since his mother’s death in September.

·        The new stamp, which will go on general sale at the start of April, consists solely of the king’s head and its value on a plain coloured background.

Economy News

5. RBI Monetary Policy: Repo rate raised by 25 basis points; FY23 GDP growth estimate raised

·        Reserve Bank of India (RBI) Governor Shaktikanta Das released the Monetary Policy statement, which included the highly anticipated increase in the repo rate of 25 basis points.

·        The central bank had increased the important benchmark interest rate by 35 basis points in its December monetary policy review (bps). In order to keep inflation under control, the Reserve Bank has raised the short-term lending rate by 250 basis points.

Following are the revised rates in the RBI Monetary Policy 2023:

·        Repo Rate: 6.50%

·        Standing Deposit Facility (SDF): 6.25%

·        Marginal Standing Facility (MSF): 6.75%

Banking News

6. PhonePe launches cross-border UPI payments service

·        PhonePe announced the debut of a service that will enable its Indian users who are travelling overseas to pay foreign businesses using the Unified Payments Interface (UPI).

·        “UPI international” enables retail locations with a native QR (quick response) code in the UAE, Singapore, Mauritius, Nepal, and Bhutan. Similar to how they do with overseas debit cards, users would be able to make direct payments in a foreign currency from their Indian bank.

·        The Walmart-backed finance app PhonePe claimed to be the first to do so in India.

·        PhonePe, with a recent $350 million investment from General Atlantic and a $12 billion pre-money valuation, became the most valuable fintech company in India.

7. Central Bank Digital Currency (CBDC): e₹-R is in the form of a digital token that represents legal tender: Govt in Lok Sabha

·        The Reserve Bank of India (RBI) launched the first pilot of Digital Rupee- Retail segment (e₹-R) on December 01, 2022. This was stated by the Union Minister of State for Finance, Shri Pankaj Chaudhary, in a written reply to a question in Lok Sabha.

·        The Minister stated that the pilot is covering select locations in closed user group (CUG) comprising participating customers and merchants.

·        It is being issued in the same denominations that paper currency and coins are currently issued. It is being distributed through financial intermediaries, i.e., banks.

·        The e₹-R offers features of physical cash like trust, safety and settlement finality. As in the case of cash, it will not earn any interest and can be converted to other forms of money, like deposits with banks.

8. ‘BizKhata’ for small businesses and merchant partners launched by Airtel Payments Bank

·        Airtel Payments Bank announced the availability of its current account, BizKhata, which offers small businesses and business partners across the nation fast activation and limitless transactions. Because they cannot maintain the minimum amount required for business accounts, many small business owners continue to use savings accounts for business-related expenses. This makes it difficult to distinguish between personal and corporate dealings.

·        The BizKhata business platform from Airtel Payments Bank was created with these small company owners and retailers in mind.

·        It unifies all corporate transactions on a single platform and enables them to keep accurate records while taking advantage of several financial advantages.

·        Do an unlimited number of credit and debit transactions, within five minutes of opening the account, the customer can begin utilizing it.

Business News

9. Edelweiss General Insurance rebranded itself as Zuno General Insurance

·        Edelweiss General Insurance has rebranded itself as Zuno General Insurance Limited (Zuno GI), which is a new age digital insurer with an aspiration to reimagine and redefine Insurance to make it easy, friendly, and transparent.

·        According to company management, the name brings alive the company’s passion, enthusiasm, and singular focus on providing customers with the most convenient and hassle-free experience powered by tech that’s responsive and intuitive. The name and identity represents the young, innovative, approachable, digital native and upbeat personality of the brand and resonates with the Millennial and GenZ audience.

·        The company has also launched a consumer study titled ‘Usage Based Insurance: Decoding Awareness, Perception and Behaviour’.

Appointment News

10. Lawyer Victoria Gowri Sworn in as Madras High Court Judge

·        Lawyer Lekshmana Chandra Victoria Gowri was appointed to the higher judiciary and took an oath of office as the additional judge of Madras High Court. Lakshmana Chandra Victoria Gowri faced opposition from a section of the legal fraternity to her following their usual practice.

·        It included reading out the Warrant of Appointment issued by the President, Gowri was administered the oath of office by Acting Chief Justice of Madras High Court Justice T Raja. Besides Gowri, four others also took oath as additional judges of the High Court.

11. K Satyanarayana Raju named as new MD and CEO of Canara Bank

·        The Union Government has appointed K Satyanarayana Raju as its Managing Director and CEO of Canara Bank, with immediate effect.

·        He will be replacing L V Prabhakar who demitted office on December 31, 2022. He joined the erstwhile Vijaya Bank in 1988, and rose to the level of chief general manager in Bank of Baroda. His experience has led to digital transformation of banking products and services.

Important takeaways for all competitive exams:

·        Canara Bank Headquarters: Bengaluru;

·        Canara Bank Founder: Ammembal Subba Rao Pai;

·        Canara Bank Founded: 1 July 1906.

12. Plant-based meat brand UnCrave signs Vir Das as ambassador

·        UnCrave, the plant-based meat brand by Licious, unveiled popular comic, actor, and musician Vir Das as its Brand Ambassador.

·        UnCrave understands how meat-lovers feel without meat and fulfills this gap with the most meat-like, vegetarian solution through its plant protein-based meat products.

·        The actor will also do a campaign for the brand which consists of a series of films, the first of which is titled, ‘Without Meat‘ in which, in his signature style, Das describes a life without meat.

Agreements News

13. DGGI and NFSU Signed MoU for Setting Up Digital Forensic Laboratories

·        The Directorate General of GST Intelligence (DGGI) and the National Forensic Sciences University (NFSU) signed a Memorandum of Understanding (MoU) for setting up digital forensic laboratories along with the exchange of information and knowledge, technological advancement and skill development in the field of digital forensics.

·        DGGI is the apex intelligence organization, under the Central Board of Indirect Taxes and Customs (CBIC), for the collection and dissemination of information and for taking necessary measures to check evasion of GST.

·        NFSU is an institution of national importance established to promote studies and research in forensic sciences and related fields.

14. India signs MoU with Indonesia-Malaysia-Thailand Growth Triangle Joint Business Council to promote adoption of energy efficiency

·        Energy Efficiency Services (EESL), a joint venture of public sector undertakings under the Ministry of Power, signed a Memorandum of Understanding (MoU) with Indonesia-Malaysia-Thailand Growth Triangle Joint Business Council (IMT-GT JBC) Malaysia at India Energy Week (IEW).

·        The MoU aims to promote the adoption of energy efficiency and sustainable practices in the region.

·        Under this partnership, EESL will implement Rooftop Solar, LED Street Light Project, Electric Mobility, UJALA, and Building Energy Efficiency Programme in Indonesia, Malaysia, and Thailand.

·        As part of this strategic partnership, EESL will provide technical advisory, project management support, contracting and implementation support to execute select energy efficiency programmes from its portfolio with proven track records of successful implementation.

Schemes News

15. 16-Member Panel set up to Draft Digital Competition Act within 3 months

·        A month after a Parliamentary panel sought a new digital competition law, the Competition Commission of India (CCI) has constituted a 16-member committee to look into the Draft Digital Competition Act.

·        Chaired by Corporate Affairs Secretary Manoj Govil, the panel will review existing competition norms and will examine the need for new legislations to tame the digital gatekeepers.  Joint Secretary (Competition) in the Corporate Affairs Ministry will serve as member secretary.

·        The panel will also study international best practices with regard to regulation and other government policies in the field of digital markets.

·        The committee will also review the practices of major players (Systemically Important Digital Intermediaries) in the digital domain, which ‘limit or have the potential to cause harm in digital markets.’

·        The panel has been tasked with submitting its report, including a draft of the Digital Competition Act (DCA), to the authorities in the next three months.

Ranks and Reports News

16. India ranks first, contributes 24 pc of global milk production: Centre to Lower House

·        Union Minister of Fisheries, Animal Husbandry and Dairying, Parshottam Rupala told Lok Sabha that India is the highest milk producer in the world contributing twenty-four per cent of global milk production in the year 2021-22.

·        According to production data of Food and Agriculture Organization Corporate Statistical Database (FAOSTAT), India is the highest milk producer in the world contributing twenty-four per cent of global milk production in the year 2021-22.

·        The milk production of India has registered a fifty-one per cent increase during the last eight years- during the year 2014-15 and 2021-22 and increased to twenty-two crore tonne in the year 2021-22.

17. FORTUNE(R) Magazine: TCS named to World’s Most Admired Companies List

·        Tata Consultancy Services (TCS) has been named to FORTUNE® magazine’s list of the World’s Most Admired Companies.

·        Regarded as a barometer of corporate reputation, the list is based on a survey of business executives, directors and analysts around the globe. Companies are evaluated based on criteria such as innovation, social responsibility, quality of management, global competitiveness, talent management, and quality of products/services.

·        TCS partners with some of the world’s largest corporations in their innovation, growth, and transformation initiatives.

·        Its industry-leading growth over the last decade has come from continually looking for new opportunities to add value to clients, proactively investing in newer capabilities, reskilling its workforce, and launching newer services, solutions, products, and platforms.

Science and Technology

18. Jupiter beats Saturn to become the Planet with most Moons

·        The battle for the most known moons in the Solar System is raging on. After losing its lead to Saturn in 2019, Jupiter has once again surged ahead.

·        Astronomers have counted 12 previously unknown moons in orbit around our Solar System’s biggest planet, bringing the known total to 92, and leaving Saturn, with its measly count of 83, in the dust.

·        The orbits of the moons, which are unnamed, have been published in the circulars of the International Astronomical Union’s Minor Planet Center, which keeps records of all the small bodies discovered in the Solar System.

19. Chinese search engine Baidu announces Ernie in AI chatbot battle

·        Chinese search engine Baidu revealed its plans of launching a ChatGPT-style AI chatbot called ‘Ernie Bot’. Baidu’s Hong Kong-listed shares jumped as much as 13.4% on the news.

·        Ernie, meaning “Enhanced Representation through Knowledge Integration,” is a large AI-powered language model introduced in 2019. The news comes after years of work by Baidu to shift from online marketing to more advanced technologies, which has cost the company billions of dollars in research into AI.

Awards News

20. A “Golden Book Awards” 2023 announced: Check the list of winners

·        The “Golden Book Awards” is announced its winner for 2023. This prestigious event recognizes and celebrates the best book in literature.

·        There were more than 75,000 books published in India and nominees include a diverse mix of literary genres, including fiction, non-fiction, poetry, and children’s books.

·        The awards are judged by a panel of literary experts, like Dr Kailash Pinjani (President Indian Authors Association), Dr Deepak Parbat (Founder of Superfast Author) & Murali Sundaram (Founder of TLC), who choose the winners based on factors such as originality, creativity, and impact on the literary world.

Sports News

21. 41-year-old Pakistan Wicketkeeper-Batter Kamran Akmal Retires From All Forms Of Cricket

·        Veteran Pakistan wicketkeeper Kamran Akmal has announced his retirement from all forms of cricket. Prior to the 2023 edition of the Pakistan Super League (PSL).

·        Akmal was earlier named as the batting consultant for the Peshawar Zalmi, led by Babar Azam, for the upcoming edition of the PSL. The 41-year-old said that he is keener on taking up managerial roles with the Pakistan Cricket Board (PCB).

·        Akmal made his debut for Pakistan back in 2002 and went on to play until 2017. In 53 Tests, 157 ODIs and 58 T20Is, the right-handed batter scored 2648, 3236 and 987 runs respectively, with the help of 11 hundreds and 27 fifties.

Miscellaneous News

22. Sculpture Park at Bikaner House Inaugurated in New Delhi

·        The Sculpture Park at Bikaner House in New Delhi was inaugurated by Rajasthan Chief Secretary Usha Sharma. Sculpture Park showcases a fusion of modern and contemporary art and culture in the traditional setting of Bikaner House.

·        The Sculpture Park is a trailblazer in the national capital and offers a premier platform for emerging artists to showcase their work with ease.

·        The Sculpture Park at Bikaner House is the first of its kind in the capital and will serve as a milestone in promoting modern and contemporary art.

·        It showcases works from renowned and emerging artists from India and the world, connecting Rajasthani art, culture, and heritage with national and international recognition.