Daily Current Affairs 24 February 2023 for Banking/Insurance/SSC and other related exams.
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Govt approves five-year project on “Innovative Extension Approaches for Revitalising Agriculture in J&K”
In Jammu and Kashmir, in order to give a huge push to sustainable agriculture in the Union Territory, the Government has approved a five-year project on “Innovative Extension Approaches for Revitalising Agriculture in J&K”.
- The project, worth 463 crore rupees, is aimed at empowering farmers and educated youth through technology driven and inclusive agri-extension services.
- One of the critical outcomes of the project would be the creation of two thousand Kissan Khidmat Ghars (KKGs), at the Panchayat level as a hub of convergence of services at the district level they will also serve as a One Stop Centre for extending farmer-oriented services related to agriculture and allied sectors.
Inaugural I2U2 Business Forum held in Abu Dhabi
The inaugural I2U2 Business Forum was held at Abu Dhabi, UAE. The External Affairs Ministry said that the Forum brought together senior private and public sector representatives from India, Israel, US and UAE to discuss opportunities for cooperation between the business communities of the four countries.
- It was the first event of this kind to take place since the official launch of the I2U2 Group during the I2U2 Leaders’ Summit in July last year.
- The I2U2 partnership, comprised of India, Israel, the UAE, and US, is a grouping focused on driving tangible economic cooperation between its members across a range of sectors. These include food security, water, energy, space, transportation, health, and technology.
BANKING & FINANCE
Saraswat Bank partners Tagit to deploy omnichannel banking
Saraswat Bank has partnered with Tagit to implement omnichannel digital banking solutions for its retail and corporate customers.
- Under the agreement, the bank will use Tagit’s Mobeix Digital Banking platform to enhance customer experience by offering a comprehensive set of digital services securely, anytime, anywhere.
- The Mobeix platform will provide the bank’s retail and business banking customers with seamless orchestration of services across mobile and web, comprehensive features, outstanding UX and robust security. This will increase the market reach, faster time-to-market and enhance customer engagement.
RBI Cancels Licence Of Madhya Pradesh-Based Garha Co-Operative Bank
The Reserve Bank of India (RBI) cancelled licence of Garha Co-operative Bank, Guna in Madhya Pradesh as the lender does not have adequate capital and earning prospects.
- About 98.4 per cent of the depositors of the co-operative bank are entitled to receive full amount of their deposits from Deposit Insurance and Credit Guarantee Corporation (DICGC), the RBI said in a statement.
ADB pledges $25 billion for India’s infra, social and green needs
The Asian Development Bank (ADB) committed up to $25 billion for the next five years to fund India’s infrastructure creation under the PM Gati Shakti initiative as well as social development and climate action to help the country meet its priority development needs.
- ADB president Masatsugu Asakawa informed PM Narendra Modi during their discussion that ADB intended to provide $20–25 billion in resources over a five-year period to help the nation achieve its goals of rapid, inclusive, and environmentally friendly growth.
Karnataka Bank, Paisalo Digital ink co-lending pact
Karnataka Bank Ltd (KPL), a leading private sector bank and Paisalo Digital Limited (PDL), a non-deposit taking non-banking financial company (NBFC) registered with the Reserve Bank of India (RBI), have entered into a co-lending arrangement, to provide financial support to those in the small-income segment, and to give impetus to the micro & small enterprises (MSEs) segment of the country.
- In line with RBI’s guidelines on co-lending by banks and NBFCs to priority sector, to improve the flow of credit to unserved and underserved segments, the arrangement will leverage Karnataka Bank’s low cost of funds, and the end-to-end digital capabilities of KBL and Paisalo, to help sourcing, servicing and recovery of small-ticket income generation priority sector loans.
IDFC MF set to launch India’s first international debt fund
IDFC Mutual Fund (MF), a fund house known for its debt funds is all set to launch the IDFC US Treasury Bond 0-1 Year FOF (fund of funds), the industry’s first international debt fund.
- This opens the doors for Indian retail investors to gain access to the ultra-safe and currently high-yield US treasury securities, and also hedge their exposure to the dollar in a convenient way.
- It gives investors an opportunity to diversify beyond India, and into US treasurys which are seen as a safe-haven asset in times of economic uncertainty.
BUSINESS & ECONOMY
SBI pegs India’s Q3 GDP growth at 4.6 per cent
Indian economy was estimated to have grown 4.6 percent during the October-December quarter of the current financial year, said a research report by SBI.
- This is higher than the 4.4 per cent growth projected by Reserve Bank of India (RBI) and National Statistical office (NSO), but lower than India ratings & Research’s (Ind-Ra) estimate of around 5 per cent. NSO will release the actual number on February 28.
University of Auckland, Tata Memorial Hospital sign MoU to engage in long-term cooperation in cancer care
Tata Memorial Hospital (TMH), Mumbai and Waipapa Taumata Rau, University of Auckland have signed a Memorandum of Understanding (MoU) to engage in long-term cooperation in cancer care. Tata Memorial Hospital is the largest and the most renowned cancer care hospital and research centre in India.
- Initial projects envisaged for the partnership include a digital platform for clinical trials to track study-related activities for patients, investigators and regulators; a digital platform to make outpatient clinics more efficient; and a digital method to enhance prescription medicine safety, such as including connecting systems to ensure potential serious drug interactions are identified and flagged for the treating physician
CAG Girish Chandra Murmu selected as External Auditor of ILO in Geneva
Comptroller and Auditor General, Girish Chandra Murmu has been selected as External Auditor of the International Labour Organization in Geneva for a four-year term from 2024 to 2027.
- The decision was taken after a rigorous selection process. CAG will take over from the incumbent External Auditor of ILO, Supreme Audit Institution of Philippines.
- CAG’s appointment is a recognition of its standing among the international community as well as its professionalism, high standards, global audit experience and strong national credentials.
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