Daily Current Affairs 4th March , 2023

Daily Current Affairs 4 March 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

India and Australia sign a Framework Mechanism for Mutual Recognition of Qualifications
India and Australia signed a Framework Mechanism for Mutual Recognition of Qualifications that will help ease the mobility of students and professionals between the two countries.

• While the two countries will recognise the degrees, professional registrations of engineering, medicine and law pass outs will remain outside the framework’s ambit.
• The agreement was signed following a bilateral meeting here between Union Education Minister Dharmendra Pradhan and his Australian counterpart Jason Clare, who is on a five-day visit to India.

President of India inaugurates 7th International Dharma Dhamma Conference in Bhopal 
The President of India, Smt Droupadi Murmu inaugurated the 7th International Dharma Dhamma Conference, organised by the India Foundation in collaboration with the Sanchi University of Buddhist-Indic Studies, in Bhopal,Madhya Pradesh.

• The 7th edition of the conference has a theme of “Eastern Humanism for the New Era” and has been planned in collaboration with Sanchi University of Buddhist-Indic Studies, whose vice chancellor Dr Neerja Gupta also joined President Murmu.
• The conference aims to bring together religious, political and thought leaders from Dharma Dhamma traditions to ponder over building a philosophical framework for the emerging new world order.

IIT Guwahati signs MoU with Samagra Shiksha, Assam, (SSA) to develop scientific temper among students
The Indian Institute of Technology Guwahati has signed a Memorandum of Understanding (MoU) with Samagra Shiksha, Assam, (SSA) under the Rashtriya Avishkar Abhiyan to develop scientific temper and strengthen students’ ability to handle challenging environments.

• Under the Rashtriya Avishkar Abhiyan of the Ministry of Education, the institute is collaborating with other higher education institutes for mentoring higher secondary schools across Assam.

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.

• 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.

Rural Development Ministry extends MoU with NIFT to provide design support for products made by NRLM SHGs
Ministry of Rural Development has extended its memorandum of understanding with the National Institute of Fashion Technology, NIFT,  to provide design support for the products made by Self Help Groups of the Deendayal Antyodaya Yojana – National Rural Livelihood Mission, NRLM.

• The MoU was signed and exchanged between Ministry of Rural Development Additional Secretary, RL, Charanjit Singh and NIFT Director General Rohit Kansal in New Delhi.
• A non-financial MoU was signed between NRLM and NIFT in October 2019, initially for three years. But, due to the effect of COVID pandemic 2019 nothing could be done under the MoU. However, NRLM engaged the services of NIFT for the designing and renovation of the ‘Saras Gallery’ in New Delhi.

INTERNATIONAL NEWS

Mumbai jumps to 37th place globally in price growth in luxury housing
Mumbai’s rank has improved to 37th from 92nd in a global list of movement in prices of luxury homes as the city saw an appreciation of 6.4 per cent during 2022 calendar year, according to Knight Frank India.Delhi’s prime property market saw value appreciating by 1.2 per cent which moved up the ranking to 77th from 93rd in 2021. 

• The value of Prime International Residential Index (PIRI 100) that tracks the movement in luxury house prices across the world increased by 5.2 per cent YoY (year-on-year) in 2022,Knight Frank said.
• As per the report, the prime residential prices in Dubai accelerated 44.2 per cent in 2022, maintaining its position at the top of Knight Frank’s PIRI 100 and cementing its status as a global hub for ultra-high-net-worth individuals (UHNWIs), assisted by numerous visa incentives.
• Aspen ranks 2nd with 27.6 per cent growth in prices, followed by Riyadh (25 per cent), Tokyo (22.8 per cent), Miami (21.6 per cent), Prague (16.3 per cent), Algarve (15.3 per cent), Bahamas (15 per cent), Athens 13 per cent and Porto (12.7 per cent).
• According to the report, Monaco continues its reign as the world’s most expensive city where USD 1 million can get you 17 square metres of space, followed by Hong Kong (21 square metres) and New York (33 square metres) in 2022.

BANKING & FINANCE

RBI imposes Rs 3.06 Crore penalty on Amazon Pay (India)
Reserve Bank of India has imposed a penalty of three crore six lakh sixty six thousand rupees on Amazon Pay (India) Private Limited for non-compliance of certain directions related to Prepaid Payment Instruments and Know Your Customer.

• Accordingly, a notice was issued and decision to impose the penalty was taken after considering the entity’s response. In a press release, RBI said that the action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers.

BUSINESS & ECONOMY

Tata Steel Mining signs MoU with GAIL to get clean fuel
Tata Steel Mining Limited has signed a Memorandum of Understanding (MoU) with Gas Authority of India (GAIL) Limited, in order to reduce carbon footprint in its operations, and for the supply of natural gas to its Ferro Alloys Plant at Athgarh in Odisha’s Cuttack district.

• According to the MoU, GAIL will supply the agreed quantity of natural gas through its pipeline from Gujarat to Athgarh.
• The project will lower green house gas emission by 968 tons, it said. Furnace oil emits more carbon dioxide, nitrogen oxides and sulphur oxides than natural gas does. Natural gas emits 27% less carbon dioxide and has lower levels of other pollutants.

APPOINTMENTS

Hockey India appoints South African Craig Fulton as new Chief Coach of Indian men’s hockey team
The Hockey India has appointed South African Craig Fulton as new chief coach of the Indian men’s hockey team.

• Craig Fulton will succeed Graham Reid who resigned after India’s poor outing at the World Cup in January 2023.
• Craig Fulton has nearly 25 years of coaching experience and earned 195 caps over a span of 10 years for South Africa. He also played Atlanta and Athens Olympic Games.

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