Daily Current Affairs 14th March , 2023

Daily Current Affairs 14 March 2023 for Banking/Insurance/SSC and other related exams.

NOTE: To read complete Current Affairs, subscribe to our plan. All important news are not covered here.

NATIONAL NEWS

Ministry of Culture administers ‘Financial Assistance to Veteran Artists’ scheme to provide financial assistance to veteran artists of the country of the age of 60 years and above
The Ministry of Culture administers a Scheme by the name of ‘Financial Assistance for Veteran Artists’ (erstwhile ‘Scheme for Pension and Medical Aid to Artistes’) to provide financial assistance to veteran artists of the country of the age of 60 years and above in the form of monthly artists pension. It has been the endeavor of the Government to make continuous efforts to ensure that pension to the beneficiaries is disbursed in a timely manner.

• However, the disbursement of financial assistance to the recommended artists is subject to submission of requisite documents by the beneficiaries selected under the Scheme such as Digital Life Certificate, Income Certificates etc. Non-submission of requisite documents from the selected beneficiaries in time, results in delay in disbursal of pension to them.

Exercise La Perouse between navies of India, US, Japan, France, UK and Australia begins
The third edition of the multilateral exercise La Perouse is held in the Indian Ocean Region from 13 to 14 March 2023,” the Ministry of Defence said.

• It saw the participation of personnel, ships and integral helicopters from the Royal Australian Navy, French Navy, Indian Navy, Japanese Maritime Self-Defense Force, Royal Navy and United States Navy.
• Indian Navy’s indigenously built guided missile frigate INS Sahyadri and fleet tanker INS Jyoti participated in the  exercise.

Country’s first 100% methanol-powered prototype truck flagged off in Bengaluru
In an environment-friendly move, the country’s first 100 percent methanol–powered prototype truck was unveiled by Minister for Road Transport & Highways Nitin Gadkari in Bengaluru.

• Calling the development a giant leap in methanol economy being piloted in BMTC buses and Ashok Leyland trucks, NITI Aayog, in a statement said it is a joint initiative by Indian Oil Corporation Limited (IOCL), Ashok Leyland and Indian Institute of Science (IISc).
• The 10-tonne prototype truck has been built for drivability assessment and durability trials. A detailed development work involving fine tuning the vehicle performance, engine and vehicle durability will be done in the coming months.

G20 flower festival held at Delhi’s Connaught Place
A two-day flower festival, which will see the participation of several G20 nations, was inaugurated at Central Park, Connaught Place, in the national capital. The flower festival was inaugurated by Union Minister of Labour and Employment Bhupender Yadav. 

• The objective of the festival is to showcase the vibrancy and colourful display of G20 members and guest countries, the New Delhi Municipal Corporation said.
• Flower plants of different colours and varieties are on display in different forms and installations

New Initiative called ‘Beggar Free City’ launched in Nagpur
In Nagpur, Maharashtra, a new project known as “beggar-free city” has been launched.

• Amitesh Kumar, the Nagpur City commissioner of police, announced that notification 144 CrPC has been issued in this regard. The social welfare division of the Nagpur Municipal Corporation (NMC) and the Nagpur City Police are partners in this effort.
• In order to accommodate homeless people in its shelters, the NMC has developed particular provisions. This will be severely enforced by the Nagpur police, and begging is not permitted in public areas.

Centre unveils Rs 1,18500 crore budget for J&K
Union Finance Minister Nirmala Sitharaman has unveiled Rs 1,18,500 crore budget for Jammu & Kashmir Union Territory for the next financial year.

• The total budget estimates for the fiscal is Rs. 1,18,500 crore, of which developmental expenditure is of the order of Rs. 41,491 crore. The capital component of the budget has increased substantially.
• The expected revenue receipts are Rs 1,06,061 crore whereas Revenue expenditure is expected to be Rs 77,009 crore, thereby making available revenue surplus for capital expenditure to the tune of Rs 29,052 crore. This was the fourth consecutive budget of Jammu and Kashmir to be presented in the Parliament. The budgets of 2020-21, 2021-22, and 2022-23 were also presented in the Parliament in absence of an elected government in the Union Territory.

INTERNATIONAL NEWS

BANKING & FINANCE

IREDA gets ‘Infrastructure Finance Company’ status from RBI
Government-owned lender Indian Renewable Energy Development Agency (IREDA) has been granted an ‘Infrastructure Finance Company’ (IFC) status by the Reserve Bank of India (RBI), enabling better exposure to renewable energy sector financing.

• The IFC status will also help the company to access wider investor base for fund mobilisation, resulting in competitive rates for fund raising.
• Further, recognition of IREDA as an IFC will also increase the investors’ confidence, enhance the brand value, and generate positive outlook in the market.

ACQUISITIONS & MERGERS

Pfizer buys Bothell-based Seagen for $43B 
New York-based Pfizer Inc. is acquiring Bothell-based Seagen Inc., which develops and commercializes cancer medicines, in a deal valued at $43 billion, the companies announced.

• The deal amounts to $229 in cash per Seagen share, the companies said of their merger agreement.

SPORTS

MC Mary Kom, Farhan Akhtar named brand ambassadors of Women’s World Boxing Championships 2023
The Boxing Federation of India (BFI) unveiled the title sponsor for the IBA Women’s World Championships 2023 and legendary boxer MC Mary Kom and Bollywood star Farhan Akhtar were also announced as the brand ambassadors of the event, scheduled from March 15 to 26 at the Indira Gandhi Sports Complex in New Delhi.

• India is hosting the event for the third time in the history and the country is set to be gripped by boxing fever as several top-notch pugilists are headlining the Championships, as per a press release from BFI.

APPOINTMENTS

FDIC names former Fannie Mae chief Tim Mayopoulos as CEO of Silicon Valley Bank
Tim Mayopoulos, the former CEO of Fannie Mae, was appointed by the Federal Deposit Insurance Corporation (FDIC) to lead Silicon Valley Bank.

• He takes over after the startup-focused lender was shut down by regulators as a result of a run on its deposits, which left it with insufficient capital.
• For more than six years prior to joining fintech Blend, Mayopoulos was the CEO of mortgage financier Fannie Mae.

Click here to read Daily Current Affairs