Daily Current Affairs March 14 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

RBI infuses ₹82650 crore into the banking system via VRR auction

• The Reserve Bank of India (RBI) infused liquidity amounting to ₹82,650 crore into the banking system via the 14-day Variable Rate Repo (VRR) auction.
• Banks borrowed ₹82,650 crore at a weighted average rate of 6.53%.
• Notified amount under the VRR auction was ₹1 lakh crore.
• This will be only the second VRR auction conducted by the RBI since February 2020.

Key Highlights : 

• On February 8th, 2023 bi-monthly monetary policy review, RBI governor Shri Shaktikanta Das stated that higher government expenditure and the anticipated return of forex inflows may augment systemic liquidity.
• It would get modulated by the scheduled redemption of LTRO (long-term repo operations) and TLTRO (Targeted LTRO) funds from February to April 2023.
• The RBI will carry out operations on either side of the liquidity adjustment facility (LAF) based on evolving liquidity conditions.
• The Variable Repo Rate (VRR) auction is usually undertaken to withdraw excess liquidity from the system.

About LTRO : 

• LTRO is a mechanism to facilitate the transmission of monetary policy actions and the flow of credit to the economy.
• LTROs are conducted on Core Banking Solution (E-KUBER) platform.

About RBI :

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

PNB Signs MoU with Central Warehousing Corporation to Facilitate Financing Under e-NWR

• State-owned Punjab National Bank (PNB) and Central Warehousing Corporation(CWC), signed a Memorandum of Understanding (MoU) to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt).
• Kanwal Jit Shorey, General Manager of Punjab National Bank, and Rajiv Kumar Bansal, Group General Manager (Comm.) of CWC signed the agreement.

Aim : 

• To provide farmers/food processors/traders with easy access to finance in exchange for the pledge of agricultural commodities stored in CWC warehouses.

About PNB : 

• Founded : 19 May 1894
• Headquarters : New Delhi, Delhi, India
• MD & CEO : Atul Kumar Goel
• Tagline : The name you can bank upon

About CWC : 

• Founded : 1957
• Headquarters : New Delhi, India
• The CWC is a statutory body created by the Ministry of Consumer Affairs, Food & Public Distribution, Government of India (GoI), under the ‘Warehousing Corporations Act, 1962.

Aim : 

• To provide reliable, cost-effective,value-added, integrated warehousing and logistics services in a socially responsible and environment-friendly manner.

About e-NWR : 

• The e-NWR was launched by Warehousing Development and Regulatory Authority (WDRA) on Sep 26, 2018.

Kochi Metro becomes the first in the country to accept digital currency for parking

• In an initiative to promote Central Bank Digital Currency (CBDC), Kochi Metro Rail Limited (KMRL) has become the 1st metro in India to accept digital currency in its parking facilities.
• The programme was inaugurated by KMRL MD Loknath Behera at Thykoodam Metro station.
• The programme was introduced in association with Maharashtra based IDFC FIRST Bank partnered with Anantham Online, a technology startup.
• This initiative comes at the back of a pilot programme launched by the Reserve Bank of India (RBI).

Key Highlights : 

• The initiative would help the Metro users to pay from their respective Bank’s CBDC wallet and avoid exchanging cash.
• The retail CBDC will be mainly used for retail payments like cash.
• It will be a digital rupee signifying legal tender in the form of a digital token and issued in the same denominations as paper currency and coins. It will be distributed through intermediaries, such as banks.

SEBI introduces reward mechanism for informants providing tips on defaulters

• The market regulator Securities and Exchange Board of India (SEBI) announced a reward system of up to Rs 20 lakh for informants who share information about the assets of defaulters.

Aim : 

• To recover fines from elusive offenders.
• Additionally, SEBI published a list of 515 defaulters on which any informant may have offered information.

Key Highlights : 

• According to the SEBI, the reward may be granted in two stages, interim and final.
• While the interim reward amount will not exceed two and a half per-cent of the reserve price of the asset regarding which tips were provided or `5 lakh, whichever is less and the final reward amount will not exceed 10 percent of the dues recovered or `20 lakh, whichever is less.
• As per SEBI, a person will be considered to be an informant eligible for a reward if he or she furnishes original information about the asset of a defaulter concerning the dues which are certified as ‘Difficult to Recover’(DTR)
• The DTR dues are the ones that could not be recovered even after exhausting all the modes of recovery.
• According to SEBI’s annual report for 2021–22, at the end of March 2022, the market regulator classified debts totaling Rs 67,228 crore as DTR.
• For recommending the eligibility of reward, SEBI will set up an informant reward committee comprising the chief general manager of the Recovery and Refund Department, the concerned recovery officer having jurisdiction in the matter, another recovery officer nominated by the chief general manager, and an officer in the grade of deputy general manager or higher, of the Office of Investor Assistance and Education nominated by the chief general manager in charge of Investor Protection and Education Fund (IPEF).

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch
• SEBI is the regulatory body for the securities and commodity market in India under the ownership of Ministry of Finance , GoI.

Muthoot Finance extends its National Pension Scheme offering to domestic and NRI customers

• Muthoot Finance has announced the extension of its National Pension Scheme (NPS) services to both its domestic and Non- Resident Indian (NRI) customers through its website and the iMuthoot app.
• The iMuthoot application allows the customers to have a ‘Do It Yourself Model’.
• Under this model, users can submit the application and complete the NPS registration by themselves.
• Muthoot Finance is an NPS service provider by the Pension Fund Regulatory and Development Authority (PFRDA).
• By providing the extension of NPS services to its customers, Muthoot Finance aims to provide its customers with an extra avenue for long-term retirement planning.
• Muthoot Finance also aims to offer its customers a tax concession of up to ₹50,000 under subsection 80 CCD (1B).

About Muthoot Finance : 

• Founded : 1939
• Headquarters : Kochi, Kerala.
• Chairman : George Jacob Muthoot
• Managing Director : George Alexander Muthoot
• Muthoot Finance Ltd is an Indian financial corporation and the largest gold loan Non-Banking Financial Company (NBFC) in India.

PNB MetLife launches Genius Plan to help parents in supporting Children’s Future

• PNB MetLife India Insurance Company Limited (PNB MetLife), one of India’s leading life insurance companies has launched PNB MetLife Genius plan a new solution to help parents financially prepare to support their children’s future.

About PNB MetLife Genius plan : 

• PNB MetLife Genius plan is an individual, non-linked, non-participating, saving, life insurance plan that offers life insurance coverage while allowing parents to save for their child’s education.

Benefits : 

• Flexibility to save with a unique and customisable payout structure
• 1.5 %higher benefit for girl child
• In-built waiver of premium on death
• Option to choose additional protection against Accidental Total Permanent Disability (ATPD)
• 1.5 % higher benefit for PMLI’s existing customers

About PNB MetLife : 

• Founded : 2001
• Headquarters : Mumbi, Maharashtra, India
• MD & CEO : Ashish Kumar Srivastava
• Brand ambassador for PNB MetLife : PV Sindhu (Ace Badminton player)
• PNB MetLife shareholders include MetLife International Holdings LLC (MIHL), Punjab National Bank (PNB), Jammu & Kashmir Bank Limited (JKB), and M. Pallonji and Company Private Limited.

CURRENT AFFAIRS: NATIONAL NEWS

PM Modi, Bangladesh PM Hasina to virtually inaugurate first India-Bangladesh cross-border oil pipeline

• First India-Bangladesh cross-border oil pipeline will be virtually inaugurated by PM Modi and Bangladesh PM Hasina on March 18.
• The 130 km India-Bangladesh Friendship Pipeline will be used to export diesel to Dhaka.
• Out of 130 km, 125 km lies inside Bangladesh’s territory and 5 km lies inside India.
• It has been built from approximately ₹377 cr , drawn from the Indian Line of Credit (LoC).
• The pipeline stretches from West Bengal’s Siliguri to a Meghna petroleum depot in Dinajpur’s Parbatipur.
• In 2017, an agreement was signed to export diesel to Bangladesh through the pipeline.
• The bilateral project was launched in March 2020.
• Initially, its deadline was June 2022.

About Bangladesh:

• Capital: Dhaka
• Currency: Taka
• Prime minister: Sheikh Hasina

NITI Aayog releases Task Force report titled Production & Promotion of Organic & Bio fertilisers with Special Focus on Improving Economic Viability of Gaushalas

• NITI Aayog has released the Task Force report titled “Production and Promotion of Organic and Bio fertilisers with Special Focus on Improving Economic Viability of Gaushalas”.
• The report is titled “Production and Promotion of Organic and Bio fertilisers with Special Focus on Improving Economic Viability of Gaushalas”.
• This report has been released by Prof Ramesh Chand, Member (Agriculture), NITI Aayog in the presence of Taskforce members.
• This Task Force has been constituted by NITI Aayog to make gaushalas economically viable and to solve the problem of stray and abandoned cattle.
• It has also been constituted to work for the effective utilization of cow dung and cow urine in the agriculture and energy sectors.
• Cattle are an integral part of the traditional farming system in India and Gaushalas will help promote natural and organic farming.
• The task force report will strengthen the waste to wealth initiative.
• It will promote the use of organic & bio fertilisers.
• The report provides factual estimates of costs and investments involved in setting up the Bio-CNG plant and PROM (Phosphate Rich Organic Manure) plant in Gaushalas.
• It provides recommendations for improving the financial and economic viability of Gaushalas.
• One of the recommendations of the task force is to make it mandatory for fertilizer companies to sell at least 10-20% of organic manure as part of their mix.
• Ramesh Chand said the implementation of the report would help achieve the target of bringing 25% cultivable area (of gross cropped area of 196 million hectares) under organic/natural farming by 2030.
• He said the recommendations will help gaushalas become at least 50% economically viable.
• The task force was set up by NITI Aayog under the chairmanship of Ramesh Chand, Member, NITI Aayog.

New initiative called ‘beggar-free city’ is being started in Maharashtra’s Nagpur

• A new initiative called ‘beggar-free city’ has been started in Nagpur, Maharashtra.
• It is a joint effort of Nagpur City police and Nagpur Municipal Corporation’s (NMC)0020social welfare department.
• Nagpur Municipal Corporation has made special arrangements to accommodate homeless people in the shelters.
• Nagpur Municipal Corporation has kept a bus and an ambulance ready to shift the beggars to its shelter home.
• According to government data, West Bengal has the highest number of beggars.
• It is followed by Uttar Pradesh and Bihar.
• A total number of 4,13,670 beggars are residing in India.
• Out of the total, 2,21,673 are males and 1,91,997 are females.

Centre announces 10% reservation for ex-Agniveers in BSF recruitment

• The Ministry of Home Affairs (MHA) has amended the Border Security Force, General Duty Cadre (Non-Gazetted) Recruitment Rules, 2015 to give 10% reservation for ex-Agniveers in BSF recruitment.
• Border Security Force, General Duty Cadre (Non-Gazetted) (Amendment) Recruitment Rules, 2023, has come into force from 9th March.
• According to the notification issued by MHA, the upper age limit will be relaxed by five years for the candidates of the first batch of ex-Agniveers in the recruitment of constables.
• The subsequent batch of Agniveers will get age relaxation of up to three years.
• As per the notifications, ex-Agniveers have been exempted from the Physical Efficiency Test in BSF recruitment.

About Agneepath scheme:

• The government launched the Agneepath scheme on June 15, 2022.
• Under the scheme, both male and female candidates are recruited as Agniveers in the ‘below officer’s rank’ cadre of the three services of the country for four years.
• Only 25 per cent of the Agniveers will be absorbed in defence forces upon the completion of their four-year course.

Central Railways achieves 100% electrification of broad gauge

• Central Railway has achieved complete electrification of its 3,825 kilometers long broad gauge network.
• This will reduce more than 5 lakh tonnes of carbon footprints annually. It will help in savings of 1670 crore rupees.
• It will help earn carbon credit.
• The central railway said the 52-kilometre Ausa Road-Latur Road stretch was the last non-electrified section.
• It lies in the Solapur division.
• Its electrification was completed on the 23rd of February 2023.
• Carbon footprint refers to the total amount of greenhouse g
• as emissions caused by an individual or organization.
• It is expressed as carbon dioxide equivalent.
• Carbon credit is a tradable certificate.
• It represents the right to emit certain amount of carbon dioxide or an equivalent amount of other greenhouse gas.

About Central Railway

• Central Railway is one of the 19 zones of Indian Railways.
• It is headquartered at Chhatrapati Shivaji Maharaj Terminus in Mumbai.

CURRENT AFFAIRS: AWARDS AND HONOURS

India creates history by winning two Oscars:

• In 95th Academy Awards ceremony, India’s ‘Naatu Naatu song’ from SS Rajamouli’s film RRR made history by becoming the first Indian film to win an Oscar for best original song.
• Composer of the song M. M. Keeravani along with lyricist Chandrabose collected the award.
• Playback singers of the Naatu Naatu song, Rahul Sipligunj and Kaala Bhairava performed the song at the Academy Awards ceremony at the Dolby Theatre in Los Angeles in USA.
• The performance got them a standing ovation.
• The live performance at the ceremony was introduced by Deepika Padukone.
• RRR is the first Indian film in over two decades to be nominated for the Academy Awards while ‘Naatu Naatu’ was the first Indian song to be nominated at the Oscars.
• The film inspired by the lives of freedom fighters Komaram Bheem and Alluri Sitarama Raju, narrates a fictional tale set in the 1920s.
• The song, choreographed by Prem Rakshith was competing against Applause from the film Tell It Like A Woman, Hold My Hand from the movie Top Gun: Maverick, Lift me Up from Black Panther: Wakanda Forever, and This Is Life, from Everything, Everywhere All At Once.
• Another Indian entry in the Academy Awards ‘The Elephant Whisperers’ also won an Oscar in the Best Documentary Short Film category.
• This 41 minutes short documentary movie by filmmaker Kartiki Gonsalves and producer Guneet Monga, explores the bond between Raghu, an orphaned baby elephant, and his caretakers.
• The other four nominees in the Short Film category were Haulout, The Martha Mitchell Effect, Stranger At The Gate, and How Do You Measure A Year? The Elephant Whisperers is the first Indian film to win an Oscar in this category and the third to be nominated after The House That Ananda Built-in 1969 and An Encounter With Faces in 1979.
• In 2008, the song ‘Jai Ho’, composed by AR Rahman and penned by Gulzar, from the British film Sl

CURRENT AFFAIRS: BUSINESS NEWS

Maharashtra, Gujarat lead in FDI inflows in the first three quarters

• Maharashtra and Gujarat recorded a positive growth in foreign direct investment (FDI) in the current fiscal even as the overall FDI inflows into the country decelerated due to rising global interest rates, waning investor sentiment and gloomy growth outlook.
• According to Department for Promotion of Industry and Internal Trade data, FDI inflows into Maharashtra went up by 19 per cent year-on-year to ₹85,186 crore during the April-December of the current fiscal.
• The State received ₹71,858 crore of FDI inflows during the same period of FY22.
• FDI inflows into Gujarat during the first three quarters of the current fiscal more than doubled to ₹32,349 crore compared to ₹15,321 crore in the corresponding quarters of the previous fiscal.
• It is to be noted that Maharashtra, Karnataka and Gujarat historically command the lion’s share of FDI inflows into the country.
• These three States alone accounted for 68 per cent of the FDI equity inflows (in dollar terms) into the country between October 2019 and December 2022.
• Among smaller States, Rajasthan recorded 61 per cent growth in FDI inflows to ₹6,021 crore.
• The overall FDI inflows into India fell by 9 per cent to ₹91-lakh crore during April-December 2022 as interest rate hikes by major central banks and recessionary fears in many parts of the world dampened the investor sentiment.
• The total FDI inflows includes equity inflows, reinvested earnings and other capital.
• The computer software and hardware sector attracted the highest inflows of ₹63,819 crore in the first nine months of the current fiscal, although in value terms it was down by 16 per cent as compared to the same period of previous fiscal.
• Inflows into the service sector grew by 31 per cent to ₹52,189 crore (₹39,797 crore) during April-December 2022.
• FDI flows to the automobile sector saw the steepest decline of 77 per cent year-on-year to ₹10,015 crore during the current fiscal.

Reliance to set up 10 gigawatt solar energy project in AP

• Reliance Industries Chairman Mukesh Ambani & his group will be investing in Andhra Pradesh to set up a 10-gigawatt renewable solar energy project.
• Ambani said as much as Rs 1.50 lakh crore was invested in Reliances’ KG-D6 assets, developing and supporting gas pipeline and the natural gas produced there is fuelling India’s clean energy transition and will contribute to nearly 30 per cent of the country’s gas production.
• According to him, the rollout of Jio True 5G will be completed by the end of 2023 throughout the country and the 4G network covers 98 per cent of AP’s population, including those living in the remotest corners of the state.
• Reliance Retail has partnered with more than 1.2 lakh Kirana merchants across 6,000 villages of the state equipping them with tools needed to thrive and succeed in the digital age and the vertical created over 20,000 direct jobs and a large number of indirect jobs in AP

CURRENT AFFAIRS: MOUS AND AGREEMENT

India & Australia agree to bolster Comprehensive Strategic Partnership at 1st India-Australia Annual Summit in New Delhi

• Prime Minister Shri Narendra Modi and Prime Minister of Australia Mr Anthony Albanese held bilateral talks in New Delhi.
• During the first India-Australia Annual Summit, both countries committed to further deepening the Comprehensive Strategic Partnership.
• Both countries exchanged MoU for cooperation in sports and audio-visual co-production.
• The Indian and Australian sides also exchanged the terms of reference for the India-Australia Solar Task Force, the Atal Innovation Mission and the letter of intent between the Commonwealth Scientific and Industrial Research Organisation.
• Mr Modi said the two countries also discussed further deepening their security and defense cooperation in the Indo-Pacific region.
• He said that both India and Australia are members of the Quad grouping and he would be traveling to Australia for the Quad leaders’ conference in May this year.
• Australian Prime Minister Anthony Albanese said that Australia’s relations with India are multifaceted.
• He said that both leaders have agreed to conclude the ambitious India-Australia Comprehensive Economic Cooperation Agreement at the earliest.
• Last year, the both countries signed a Free Trade Agreement for economic cooperation and trade.
• In 2021-22, the bilateral trade between the two countries was estimated to be around $27 billion.
• It is expected to reach 45 to 50 billion dollars by the year 2023.

Boeing, GMR to set up freighter conversion line in Hyderabad

• Boeing announced an agreement with GMR Aero Technic to establish a new Boeing Converted Freighter (BCF) line in Hyderabad.
• GMR Aero Technic is the first Boeing supplier in India that will have the capability to support future conversions of both domestic and foreign aircraft.
• The collaboration adds to Boeing’s continued investments to support the growth of cargo and help expand complex aircraft modification capabilities and Maintenance, Repair and Overhaul (MRO) in India, supporting India’s aspiration to become an aviation and aerospace hub for the region.
• Ashok Gopinath, CEO, GMR Aero Technic.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Axis AMC names Mr B Gopkumar as CEO & Mr Ashish Gupta as chief investment officer

• Axis Asset Management Company has appointed Mr B Gopkumar, the managing director (MD) and chief executive officer (CEO) at Axis Securities, as the new MD & CEO of leading fund house Axis Asset Management Company Ltd. (AMC).
• He will take over on May 01, 2023 for a 3 year term till April 30, 2026.
• Mr Gopkumar takes over from Mr Chandresh Nigam who has stepped down as the MD & CEO of the company.

Other Appointments : 

• The fund house has on-boarded former Credit Suisse head of India equity research Mr Ashish Gupta as the chief investment officer (CIO)
• His claim to fame was the House of Debt published in August 2012, which flagged off the concentration risk in corporate loans and subsequently, the mounting pressure of non-performing assets for the banking system.
• At present, the investment teams of Axis MF are headed by Mr Jinesh Gopani who is Head-Equity and Mr R. Sivakumar, who is Head-Fixed Income.

About Axis AMC : 

• Founded : 2009
• Headquarters : Mumbai, Maharashtra, India
• Axis AMC Limited is the mutual fund investment wing of Axis Bank & India’s 7th largest AMC.

Hindustan Unilever appoints Mr Rohit Jawa as New MD & CEO

• Consumer goods conglomerate Hindustan Unilever Limited (HUL) has announced that Mr Rohit Jawa will take over as the new Managing Director(MD) & Chief Executive Officer (CEO) of HUL for a tenure of 5 years starting from June 27, 2023, and will join the company as CEO designate and Whole-time Director from April 1, 2023.
• He will succeed Mr Sanjiv Mehta, who took over as MD & CEO of HUL in October 2013.
• Mr Jawa will also take over as President, Unilever South Asia.
• He will join the Unilever Leadership Executive (ULE) effective April 1, 2023.
• Presently, Mr Rohit Jawa, the Chief of Transformation for Unilever in London, United Kingdom.

About HUL : 

• Headquarters : Mumbai, Maharashtra, India
• HUL is an Indian consumer goods company & it is a subsidiary of the British company Unilever.

RBI approves reappointment of Mr Sumant Kathpalia as MD, CEO of IndusInd Bank

• IndusInd Bank has announced that the Reserve Bank of India (RBI) has approved the re-appointment of Mr Sumant Kathpalia as Managing Director(MD) & Chief Executive Officer (CEO) of the Bank for a further period of 2 years with effect from March 24, 2023.
• The nod by RBI comes nearly 6 months after the IndusInd Bank’s board of directors had cleared another term for Kathpalia, who has been the lender’s MD & CEO since March 2020.
• IndusInd Bank recorded a rise of 68.71% in profit after tax to ₹1,959.20 crore for the quarter ended December 2022 from a profit of ₹1,161.27 crore in the same quarter last year.

About IndusInd Bank Limited : 

• Established : 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sumat Kathpalia
• Tagline : We Make You Feel Richer

Citi appoints Mr Bhanu Vohra as head for commercial banking in India

• Mr Bhanu Vohra has been named by Citi as Head of Commercial Banking in India.
• He replaces Tushar Vikram.

Roles & Responsibilities :

• Mr Vohra will be responsible for the Citi Commercial Bank (CCB) business in India, which addresses the banking and financial services needs of emerging large corporates and mid-market enterprises through Citi’s global footprint, international capabilities, and innovative solutions.
• He will be reporting to CEO of Citi India, Mr Ashu Khullar and Head of Citi Commercial Bank Asia Pacific, Rajat Madhok.

About Mr Bhanu Vohra : 

• Vohra, a chartered accountant, joined Citi in 2000.
• Throughout his career at Citi, he has also held positions in Citi’s Treasury and Trade Services (TTS) business and Operations and Technology.

About Citi : 

• Headquarters : New York
• Citi is an American multinational investment bank.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Bank of Baroda board approves 49% stake divestment in BFSL

• The Bank of Baroda (BoB) board has approved up to 49% divestment in its wholly owned subsidiary BoB Financial Solutions Ltd (BFSL).
• BoB currently holds 100% of the total equity share capital of BFSL.
• The board has also given approval to issuance of an advertisement inviting Expressions of Interest (EoI) from investors/ strategic partners to acquire BoB’s shareholding in BFSL.

About BFSL : 

• Established : 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Shailendra Singh
• BFSL was formerly known as BoB Cards Ltd.
• It is a non-deposit accepting Non-Banking Finance Company (NBFC).
• It was the first non-banking company in India to issue credit cards.

About BoB : 

• Founded : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Sanjiv Chadha

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Action of Rivers: March 14

• International Day of Action of Rivers 2023 is an international event celebrated on March 14th, 2023.
• The International Day Of Action For Rivers 2023 theme is ‘Rights of Rivers’, which demands that the rivers be declared a national asset.
• It is an annual event observed all over the world every year on 14th March.
• It is a day that is dedicated to saving, celebrating, and creating awareness about the importance of rivers.
• The International Day of Action Against Dams and For Rivers, Water and Life was adopted by the participants of the First International Meeting of People Affected by Dams in March 1997 in Curitiba, Brazil, according to internationalrivers.org.
• River experts from 20 countries decided that March 14 will be the ‘Day of Action for Rivers’.
• The participants aimed to unite against the destruction of rivers, other water bodies, and the ecologically fragile watershed areas.

Daily CA One- Liner: Mar 14

• First India-Bangladesh cross-border oil pipeline will be virtually inaugurated by PM Modi and Bangladesh PM Hasina on March 18
• NITI Aayog has released the Task Force report titled “Production and Promotion of Organic and Bio fertilisers with Special Focus on Improving Economic Viability of Gaushalas”.
• A new initiative called ‘beggar-free city’ has been started in Nagpur, Maharashtra
• The Ministry of Home Affairs (MHA) has amended the Border Security Force, General Duty Cadre (Non-Gazetted) Recruitment Rules, 2015 to give 10% reservation for ex-Agniveers in BSF recruitment
• Central Railway has achieved complete electrification of its 3,825 kilometers long broad gauge network
• In 95th Academy Awards ceremony, India’s ‘Naatu Naatu song’ from SS Rajamouli’s film RRR made history by becoming the first Indian film to win an Oscar for best original song
• Maharashtra and Gujarat recorded a positive growth in foreign direct investment (FDI) in the current fiscal even as the overall FDI inflows into the country decelerated due to rising global interest rates, waning investor sentiment and gloomy growth outlook
• Reliance Industries Chairman Mukesh Ambani & his group will be investing in Andhra Pradesh to set up a 10-gigawatt renewable solar energy project
• Prime Minister Shri Narendra Modi and Prime Minister of Australia Mr Anthony Albanese held bilateral talks in New Delhi.
• Boeing announced an agreement with GMR Aero Technic to establish a new Boeing Converted Freighter (BCF) line in Hyderabad
• International Day of Action of Rivers 2023 is an international event celebrated on March 14th, 2023
• The Reserve Bank of India (RBI) infused liquidity amounting to ₹82,650 crore into the banking system via the 14-day Variable Rate Repo (VRR) auction.
• State-owned Punjab National Bank (PNB) and Central Warehousing Corporation(CWC), signed a Memorandum of Understanding (MoU) to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt).
• In an initiative to promote Central Bank Digital Currency (CBDC), Kochi Metro Rail Limited (KMRL) has become the 1st metro in India to accept the digital currency in its parking facilities.
• The market regulator Securities and Exchange Board of India (SEBI) announced a reward system of up to Rs 20 lakh for informants who share information about the assets of defaulters.
• Muthoot Finance has announced the extension of its National Pension Scheme (NPS) services to both its domestic and Non Non Resident Indian (NRI) customers through its website and the iMuthoot app.
• PNB MetLife India Insurance Company Limited (PNB MetLife), one of India’s leading life insurance companies has launced PNB MetLife Genius plan a new solution to help parents financially prepare to support their children’s future.
• Axis Asset Management Company has appointed Mr B Gopkumar, the managing director (MD) and chief executive officer (CEO) at Axis Securities, as the new MD & CEO of leading fund house Axis Asset Management Company Ltd. (AMC).
• Consumer goods conglomerate Hindustan Unilever Limited (HUL) has announced that Mr Rohit Jawa will take over as the new Managing Director(MD) & Chief Executive Officer (CEO) of HUL for a tenure of 5 years starting from June 27, 2023, and will join the company as CEO designate and Whole-time Director from April 1, 2023.
• IndusInd Bank has announced that the Reserve Bank of India (RBI) has approved the re-appointment of Mr Sumant Kathpalia as Managing Director(MD) & Chief Executive Officer (CEO) of the Bank for a further period of 2 years with effect from March 24, 2023.
• Mr Bhanu Vohra has been named by Citi as Head of Commercial Banking in India.
• The Bank of Baroda (BoB) board has approved up to 49% divestment in its wholly owned subsidiary BoB Financial Solutions Ltd (BFSL).