Daily Current Affairs Analysis Today : 25 –February-2023 Daily current affairs analysis is a practice that helps individuals prepare for various competitive exams. It involves staying updated on recent and important events around the world, which is essential for answering questions in these exams. This analysis helps aspirants track global developments, keeping them informed and increasing their chances of success.
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.
ILO had formed a Selection Panel for appointment of External Auditor and invited bids from the Supreme Audit Institutions. Based on the technical experience and other criteria, ILO shortlisted three Supreme Audit Institutions – India, Canada and United Kingdom – for technical presentations.
In Geneva, a three-member team from CAG of India presented the strengths, approach and skill set and the vast experience of auditing International Organizations to the tripartite selection panel of ILO.
Who has been selected as External Auditor of the International Labour Organization in Geneva for a four-year term? Girish Chandra Murmu
Govt approves India Centre for Lab-Grown Diamonds at IIT Madras
Commerce Ministry approved the establishment of the India Centre for Lab-Grown Diamonds (InCent-LGD) at IIT Madras at an estimated cost of ₹242.96 crore.
A five-year research grant was announced in the Budget to encourage the indigenous production of lab-grown diamonds machinery, seeds and recipe.
The lab-grown diamond jewellery market is expected to rise to $5 billion by 2025.
During the Budget 2023 presentation, the FM said the government will look to boost indigenous production of such diamonds and reduce import liability.
The FM had announced two ways in which the government will support the sector. One of the IITs will be given a research and development grant to facilitate innovation in the industry through development of machines and equipment. The other support will be provided in the form of a reduction in import duty on the raw materials required to make the lab diamonds.
Lab-grown diamonds are an eco-friendly and sustainable alternative to mined diamonds, as they are produced using advanced technology and do not require extensive mining and processing operations.
The gems and jewellery sector plays a significant role in the Indian economy, contributing around 9 percent to India’s total merchandise export. Over the past decade, there has been several positive developments in the gem and jewellery sector globally. One of the major technological developments in this sector has been lab-grown diamonds (LGD).
Globally, the market stood at $1 billion in 2020, the lab-grown diamond jewellery market is expected to rapidly rise to $ 5 billion by 2025 and exceed $15 billion by 2035.
The commerce ministry has approved the setting up of the India Center for Lab-Grown Diamonds (InCent-LGD) in which IIT at an estimated cost of Rs 242.96 crore? IIT Madras
Rajeev Raghuvanshi appointed as new Drug Controller General of India
Rajeev Singh Raghuvanshi has been appointed as the new Drug Controller General of India (DCGI), Central Drugs Standard Control Organization (CDSCO).
Rajeev Singh Raghuvanshi is a former Indian Pharmacopoeia Commission secretary-cum-scientific director.
Rajeev Singh Raghuvanshi will supersede Dr. PBN Prasad who is holding the position till 28th February 2023. The order which was released stated that Raghuvanshi will continue to be the DGCI till February 28, 2025.
The Union Public Service Commission (UPSC) has recommended to the government his name as the successor to Dr. V G Somani, whose extended tenure will end in mid-February.
The recommendation was later approved by the Health Ministry, followed by approval of the Appointments Committee of Cabinet led by Prime Minister Narendra Modi.
Based on the assessment of bio-data of the eligible officers received and after holding personal talks with them on January 27 recommends Dr. Rajeev Singh Raghuvanshi for appointment to the post of Drug Controller (India) on a short-term contract basis.
The DCGI heads the Central Drugs Standard Control Organisation (CDSCO) which is responsible for ensuring quality drug supply across the country.
It also has the authority to give approval to new drugs and regulate clinical trials.
Dr. Raghuvanshi has 14 granted US patents along with more than 250 published patent cooperation treaties and Indian patents.
He has more than 25 publications in peer-reviewed journals and has co-authored six chapters in books.
Who has been appointed as the new Drug Controller General of India (DCGI)? Rajeev Singh Raghuvanshi
Spain’s Sergio Ramos retires from international football aged 36
Spain’s 2010 World Cup-winner Sergio Ramos has announced his retirement from international football, stating that he was told by their current coach Luis de la Fuente that he was not part of his plans.
The 36-year-old Paris St-Germain defender is Spain’s most capped player of all time with 180 appearances.
A 2010 World Cup winner and back-to-back European champion with Spain, Ramos made his international debut aged 18 in 2005.
Prime minister: Pedro Sánchez
Sergio Ramos, who recently announced his retirement, is associated with which sport? Football
NTPC ranked as the top Independent Power Producers and Energy Traders Globally by S&P Platts
NTPC Limited, the country’s largest power generating company has been ranked No.1 Independent Power Producers and Energy Traders Globally in the S&P Global Commodity Insights Top 250 Global Energy Company Rankings®-2022.
These rankings are based on four key metrics- asset worth, revenues, profits and return on investment.
NTPC is not just India’s largest power producer; it is one of the key pillars sustaining India’s economic growth and development.
With a share of 17% of the installed capacity, NTPC currently contributes 24% of the total electricity produced in India.
NTPC’s goal has always been to deliver power that is economical, efficient, and ecologically sustainable. To meet this objective, it offers a diversified energy mix comprising gas, wind, solar, hydro, floating solar and coal.
By 2032, NTPC is targeting non-fossil fuel-based capacity to make up nearly 50 per cent of the company’s portfolio, which includes renewable energy capacity of 60 GW and total portfolio of 130GW. In terms of scale, efficiency, and energy generation from cleaner and greener sources, the company leads the India’s energy transition. It has teamed with NITI Aayog for the Net Energy Zero effort.
Founded: 7 November 1975
Headquarters: New Delhi, India
Chairman & MD: Gurdeep Singh
Which Indian company has been ranked as the top Independent Power Producers and Energy Traders Globally in the S&P Global Commodity Insights Top 250 Global Energy Company Rankings®-2022 ? NTPC Limited
JSW Group chairman Sajjan Jindal bags ‘Entrepreneur of the Year 2022’ title
Sajjan Jindal, the chairman and managing director of JSW Group, was awarded as the EY Entrepreneur of the Year (EOY) 2022.
The seven-member jury led by former ICICI Bank chairman K V Kamath selected Jindal as the EOY 2022 winner for his “exceptional entrepreneurial journey in scaling the global conglomerate with presence in steel, cement, infrastructure, energy, and paints to revenues of US$22 billion.
Jindal has created a track record of executing large capital-intensive, technically complex, and state-of-the-art steel manufacturing facilities on principles of cost efficiency and operational excellence.
Other Winners :
Mahesh Pratapneni, co-founder and group CEO of MedGenom, who was awarded in the startup category
IDFC First Bank MD V Vaidyanathan bagged the award in the financial services category
Borosil Group executive chairman Pradeep Kheruka in manufacturing
Safexpress MD Rubal Jain in services
Vedant Fashions chairman Ravi Modi in products & retail
Gujarat Fluorochemicals MD Vivek Jain in business transformation category
Who has been awarded as the EY Entrepreneur of the Year (EOY) 2022? Sajjan Jindal
Mumbai’s Churchgate railway station to be renamed after India’s first RBI Governor
The Churchgate railway station in Mumbai will soon be called as ‘Chintamanrao Deshmukh station’, named after the first governor of the Reserve Bank of India (RBI) CD Deshmukh.
The first national executive meeting of Eknath Shinde-led Shiv Sena faction, which was declared the original Shiv Sena by the Election Commission last week.
The meeting passed a resolution to rename the Churchgate railway station after the former RBI governor and Union Finance Minister CD Deshmukh.
Chintaman Dwarkanath Deshmukh, also known as C D Deshmukh, was the first Indian Governor of the Reserve Bank of India. He joined RBI in 1939 and served as its Secretary to the Board, Deputy Governor and the Governor. In August 1943, he was appointed as Governor of the RBI and served in that position till 1949. Deshmukh is one of the eight Deputy Governors of the Bank who have gone on to become its Governor.
Born on January 14, 1896, in Nategaon, Maharashtra, CD Deshmukh completed his education at the University of Bombay, where he studied economics and statistics. In 1915, he went to England for graduation in Natural Sciences. After completing his degree, he joined Indian Civil Service and served in various capacities in the British Indian government, including as undersecretary to the government, Deputy Commissioner and Settlement Officer and as secretary to the Secretary-General at the Second Round Table Conference of 1931, later becoming secretary to the finance and public works department.
What will be the new name of Mumbai’s Churchgate railway station? Chintamanrao Deshmukh station
China launches high-capacity communications satellite “Zhongxing-26”
China recently launched the Zhongxing-26 satellite at a cost of 333 million USD.
It was launched on Long March 3B rocket.
The main objective of the satellite is to provide broadband connectivity for aviation and ship-related operations.
The satellite was launched by the China Academy of Space Technology. The CAST is planning to make 60 more launched in 2023.
The rocket uses liquid hydrogen and liquid oxygen fuel in the third stage. Liquid rocket fuels require a controlled temperature to stay in their form.
President: Xi Jinping
Recently, China has launched the Zhongxing-26 satellite via which rocket? Long March 3B rocket
Biden nominates ex-Mastercard CEO Ajay Banga to head World Bank
David Malpass, the former World Bank President resigned before his term was completed due to climate-related controversies.
After his resignation, US President Joe Biden recently nominated the former Master Card CEO Ajay Banga as the new World Bank President.
Ajay has expertise in handling climate change-related economic issues.
He is now serving as the Vice Chairman of General Atlantic, a private firm. His business experience with the master card is more than 30 years. He is the first Indian-born nominee to serve at the World Bank. With the recent FBI reports talking about the hate crimes against Sikhs in the country, the US’s political decision on choosing Ajay Banga as the head of the key organization is commendable.
David Malpass was nominated by former US President Donald Trump. The duo was criticized for their anti-environmental policies.
Who has been nominated by US President as the new World Bank President? Ajay Banga
Central Bank of India, Moneywise Financial Services tie up for MSME loans
Central Bank of India and Moneywise Financial Services Pvt Ltd (MFSPL) signed a co-lending agreement for lending to micro, small, and medium-sized enterprises (MSMEs).
This partnership will help to expand the portfolio for both entities.
The said loans would be subject to compliance with the applicable laws and guidelines issued by RBI.
MFSPL is an RBI-regulated non-banking financial company (NBFC) focused on MSME Lending.
Central Bank of India:
Founded: 21 December 1911
Headquarters: Mumbai, Maharashtra, India
Non-Exe Chairman: Tapan Ray
MD & CEO: Matam Venkata Rao
Which bank has signed a co-lending agreement with Moneywise Financial Services Pvt Ltd (MFSPL) for lending to micro, small, and medium-sized enterprises (MSMEs)? Central Bank of India