Daily Current Affairs Analysis Today : 12 & 13 –March-2023 Daily current affairs analysis is an important tool for govt job aspirants. It helps them stay informed about the world around them, and stay up to date on the latest developments. It also provides a better understanding of politics, economics and international relations, which can help in forming opinions and understanding different contexts. Additionally, it assists in preparing for competitive exams, as many questions are based on current events.
Siddhartha Mohanty appointed LIC Chairman for 3 months
The government has named Siddhartha Mohanty, currently serving as MD of LIC, as the interim Chairman of the LIC with effect from March 14.
Mohanty will hold this position for a period of three months.
According to sources, the current Chairman, MR Kumar, will not be receiving an extended term.
On February 1, 2021, Mohanty was appointed as the Managing Director of LIC for a term of over two years until June 30, 2023, or until his superannuation.
He succeeded TC Suseel Kumar, who retired from the position on January 31, 2021.
Life Insurance Corporation of India (LIC):
Founded: 1 September 1956
Headquarters: Mumbai, Maharashtra, India
Managing Director: B C Patnaik, Ipe Mini, Siddharth Mohanty, Raj Kumar
Who has been appointed as the chairman of LIC for 3 months? Siddhartha Mohanty
PNB Signs MoU With Central Warehousing Corporation To Facilitate Finance To Farmers
Punjab National Bank, nation’s public sector bank and Central Warehousing Corporation have signed a Memorandum of Understanding to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt).
The partnership is aimed at providing easy access to finance to farmers/ food processors/ traders against the pledge of agriculture commodities stored in CWC warehouses.
Note: Agriculture is an important sector of the country’s economy and government has been focusing on increasing the income of the farmers who drive this segment.
Central Warehousing Corporation:
It is a statutory body which was established under ‘The Warehousing Corporations Act, 1962’.
Its aim is to provide reliable, cost-effective, value-added, integrated warehousing and logistics solution in a socially responsible and environment friendly manner.
Warehousing activities of CWC includes food grain warehouses, industrial warehousing, custom bonded warehouses, container freight stations, inland clearance depots and air cargo complexes.
Warehousing Development and Regulatory Authority (WDRA) launched the web portal “Electronic Negotiable Warehouse Receipt (e-NWR) System” in 2017.
The web portal was launched for simplifying the Warehouse Registration Rules, digitizing the entire process of registration, monitoring, and surveillance as well as the creation and management of Negotiable Warehouse Receipts (NWRs) in electronic form.
The e-NWRs are recorded and maintained in digital form by two repositories approved by the WDRA.
These are the National E-Repository Limited and CDSL Commodity Repository Limited.
This was an important decision to formalize the agricultural economy.
Recently which public sector bank has signed an MOU with Central Warehousing Corporation To Facilitate Finance To Farmers? PNB
B Gopkumar named as Axis Mutual Fund’s MD and CEO
B Gopkumar, the managing director and CEO of Axis Securities, has been named the new CEO of renowned fund house Axis Mutual Fund by Axis Asset Management Company. Chandresh Nigam, the previous CEO of the company, is replaced by Gopkumar.
As head of equities from July 2009, Nigam became MD & CEO in May 2013 and oversaw the fund house for two stints totaling ten years.
Gopkumar has more than 28 years of experience working in the financial services sector.
Another event is the hiring of Ashish Gupta as Chief Investment Officers (CIO) of the mutual fund at Axis AMC.
Gupta headed the stock research for India at Credit Suisse.
He has been conducting equities research for more than 25 years.
Founded: 3 December 1993
Headquarters: Mumbai, Maharashtra, India
MD & CEO: Amitabh Chaudhry
Chairperson: Shri Rakesh Makhija
Who has been named the new MD & CEO of Axis Mutual Fund? B Gopkumar
Raj CM approves ₹14,200 cr for Eastern Rajasthan Canal Project
Rajasthan CM Ashok Gehlot has approved a financial proposal of ₹14,200 crore for construction of the Eastern Rajasthan Canal Project (ERCP).
Under ERCP, additional water available in Rajasthan’s rivers, which otherwise flows into the sea through Yamuna river, will be stopped through dams.
Gehlot had made a provision of ₹13,500 crore for various works under ERCP in 2023-24 state Budget.
Also, the work on increasing the height of Bisalpur dam and developing 202-km-long water transport system will be done.
Water management work under the ERCP by 2040, additional drinking water requirements of Jaipur, Ajmer and Tonk districts and 16.82 TMC drinking water for the remaining rural areas of Jaipur district will be done.
Governor: Kalraj Mishra
Chief minister: Ashok Gehlot
Recently CM Ashok Gehlot has approved a financial proposal of ₹14,200 crore for construction of the ERCP in the state. In context to same what does ERCP stands for? Eastern Rajasthan Canal Project
Shooting World Cup: Prithviraj Tondaiman wins men’s trap bronze in Doha shotgun event
India’s Prithviraj Tondaiman won his first individual World Cup medal after he finished third in the men’s trap competition at the ongoing ISSF Shotgun World Cup in Doha, Qatar.
Prithviraj finished with 20-hits from the first 25 targets in the medal match to win the bronze at the Lusail Shooting Range.
Turkey’s 40-year-old Tuzun Oguzhan won gold.
He shot 33 targets in the 35-shot medal match as Tokyo Olympics bronze medallist Matthew Coward-Holley won silver with 30-hits to his name.
International Shooting Sport Federation:
Headquarters: Munich, Germany
President: Luciano Rossi
Secretary-General: Willi Grill
At the ongoing ISSF Shotgun World Cup in Doha, Qatar, name the Indian shooter who has won the bronze in men’s trap competition? Prithviraj Tondaiman
Infosys President Mohit Joshi named Tech Mahindra’s next CEO & MD
Tech Mahindra has announced that Infosys President Mohit Joshi will be the company’s next CEO and Managing Director.
Joshi’s appointment will come into effect on December 20, after current CEO CP Gurnani’s term comes to an end.
Joshi has resigned as Infosys President after more than 22 years at the company to join Tech Mahindra.
Joshi was responsible for the Financial Services and Healthcare/Life Sciences businesses at Infosys. Last year, Ravi Kumar S quit Infosys to become CEO of Cognizant.
Founded: 2 July 1981
Headquarters: Bangalore, Karnataka, India
chairman: Nandan Nilekani
MD & CEO: Salil Parekh
Founded: 24 October 1986
Headquarters: Pune, Maharashtra, India
Chairman: Anand Mahindra
Who will be the next CEO and Managing Director of Tech Mahindra? Mohit Joshi
Xi Jinping’s close aide Li Qiang becomes China’s new Premier
Chinese President Xi Jinping’s close aide Li Qiang became the new Premier of the country.
Qiang previously served as chief of the Communist Party of China in Shanghai and was also Jinping’s chief of staff between 2004 and 2007.
This comes after Xi Jinping was awarded an unprecedented third five-year term as the country’s President.
President: Xi Jinping
Who has become the new Premier of China? Li Qiang
RBI approves reappointment of Kathpalia as IndusInd Bank MD, CEO
IndusInd Bank announced that RBI has approved the reappointment of Sumant Kathpalia as its managing director and chief executive officer for a period of two years.
Last year, IndusInd Bank had cleared another term for Kathpalia for three years.
He was first made the bank’s MD and CEO in March 2020.
The RBI’s nod comes nearly six months after the board of IndusInd Bank had cleared another term for Kathpalia, who has been the lender’s MD & CEO since March 2020.
Kathpalia, a career banker, has an experience spanning over three decades.
He was earlier associated with major national and international banks such as Citibank, Bank of America and ABN AMRO.
Founded: April 1994
Founder: S. P. Hinduja
Headquarters: Mumbai, Maharashtra, India
Chairman: Arun Tiwari
RBI has approved the reappointment of Sumant Kathpalia as managing director and chief executive officer of which bank? IndusInd Bank
China appoints US-sanctioned general Li Shangfu as new defence minister
China appointed a US-sanctioned general as its new defence minister.
The country’s rubber-stamp legislature unanimously confirmed the appointment of General Li Shangfu, a veteran of the People’s Liberation Army’s modernisation drive.
Other senior appointments included four new vice premiers – Ding Xuexiang, He Lifeng, Zhang Guoqing, and Liu Guozhong.
Following their nomination by the new premier, all four will serve as vice premiers on the State Council, the body responsible for reviving China’s economy after three years of strict zero-Covid restrictions.
People’s Bank of China reappointed Yi Gang as the Governor for a second term.
President: Xi Jinping
Who has been appointed as the new defence minister of China? General Li Shangfu
PM Modi, Hasina to launch Rs 377-cr cross-border oil pipeline
India’s first-ever cross-border oil pipeline with Bangladesh is set to be launched on March 18 by Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina.
The 130-km-long Indo-Bangla Friendship Pipeline (IBFPL) pipeline is part of several bilateral measures to allow Bangladesh to tap into larger volumes of energy to meet its growing domestic demands.
It would carry high speed diesel from Numaligarh Refinery Limited (NRL) in Assam.
The pipeline would carry fuel from NRL’s marketing terminal in Siliguri, West Bengal to the state-run Bangladesh Petroleum Corporation’s (BPC) oil depot in Parbatipur city in Dinajpur District of the neighbouring country.
The custody transfer point would be at the Banglabandha International border point in the suburbs of Siliguri.
BPC would have sole marketing rights within Bangladesh.
Constructed at a cost of Rs 377.08 crore, the bilateral project has been financed by a grant in aid of Rs 285.24 crore by India and Rs 91.84 crore by NRL.
Only five km of the pipeline would run within Indian territory, the rest would run through Bangladesh.
One million metric tonnes per annum (MMTPA) can potentially be transported through the pipeline.
With which country, India will launch its first Rs 377 crore cross border oil pipeline? Bangladesh