NATIONAL NEWS

‘Go Green, Go Organic’ Cover for Sikkim

• Union Minister Shri Ashwini Vaishnaw and 4 Sikkim ministers released a unique cover of the Department of Posts, ‘Go Green, Go Organic’ for Sikkim.

• This release is a tribute to the rich culture of Sikkim and its contributions to the country’s agriculture sector.

• It is a recognition of Sikkim’s efforts towards promoting organic farming and sustainable development.
• Sikkim has the title of the ‘first 100% organic state’ in the world.

Centre Launches MSME Competitive (LEAN) Scheme

• Union Minister for MSME Narayan Rane launched the MSME Competitive (LEAN) Scheme.
• It aims to provide a roadmap to global competitiveness for the MSMEs of India.
• The scheme will not only strive to improve quality, productivity and performance, but also change the mindset of manufacturers and provide them the ability to become world class manufacturers.
• Through this scheme, MSMEs can significantly reduce wastage, increase productivity, improve quality, expand their markets, operate in a safer manner and ultimately become competitive and profitable.

Five-day Yaoshang Festival Begins in Manipur

• The Yaoshang festival has begun and will continue for 5 days in Manipur.

• The festival is celebrated by the Meitei people who are predominantly Hindu.

• It is celebrated at the same time as Holi and known as ‘Manipur’s version of Holi’.

• The festival marks the rejuvenation of the spirit of life and commemorates the birthday of Chaitanya Mahaprabhu.

• The festival also witnessed a number of cultural and religious activities for 5 days.
• From some years back, the village level sport competition held by different clubs or organisations during the Yaoshang festival has become a major feature of the celebration.

INTERNATIONAL NEWS

India Sign MoU with Mexico

• India and Mexico signed an agreement on research, technology and innovation cooperation in New Delhi.
• This particularly includes aerospace, electronics, ocean science, biotech and several major technology sectors involved which further involve healthcare.
• Science and Technology Minister Dr Jitendra Singh and Foreign Minister of Mexico Marcelo Ebrard were present on the occasion.

BANKING

CBDT Gives Five-Year Tax Exemption for Insolvency Regulator IBBI

• The Central Board of Direct Taxes (CBDT) has granted tax exemption to certain specified incomes of the insolvency regulator Insolvency and Bankruptcy Board of India (IBBI) for 5 financial years starting from the current fiscal.

• The tax exemption will be available for the financial years 2022-2023, 2023-2024, 2024-2025, 2025-2026 and 2026-2027.

• These incomes include grants-in-aid received from the Central Government, fees received under the IBC, fines collected under the IBC and any interest income on these receipts.
• The CBDT is an administrative body of the Income Tax Department.
• It is a statutory body established as per the Central Board of Revenue Act, 1963.

European Investment Bank Partnered with IREDA

• The European Investment Bank (EIB) and state-owned Indian Renewable Energy Development Agency (IREDA) Limited are exploring a partnership on the financing of renewable energy and green hydrogen projects in India.

• The collaboration would help in opening up new opportunities for the country’s citizens and advancing the Government’s goal of achieving 50% of its installed energy capacity from non-fossil fuels by the year 2030.

• It would help to create new opportunities in the emerging segment of renewable energy, green hydrogen, green ammonia, e-mobility, battery storage, etc.

PNB Makes Positive Pay System Mandatory

• In a move to safeguard customers from fraudulent payment of cheques, state-owned Punjab National Bank (PNB) has made the Positive Pay System (PPS) compulsory for cheque payments worth Rs 5 lakh and above.
• This will come into effect from 05 April 2023.
• Earlier, the mandatory submission of cheque details in PPS was set at Rs 10 lakh and above.
• The PPS is a system developed by the National Payments Corporation of India (NPCI), which requires customers to reconfirm essential details (account number, cheque number, cheque alpha code, issue date, amount and beneficiary name) when issuing cheques of a certain amount.

YES Bank Enters into Partnership with Aadhar Housing Finance

• YES Bank has entered into a co-lending partnership with Aadhar Housing Finance Ltd to offer home loans at competitive interest rates.

• Under the partnership, the entities will provide products such as Home Loan for Salaried Employees, Loan for Plot Purchase and Construction, Home Improvement Loan, Loan Against Residential Commercial Property, Balance Transfers and Top Up, among others, to customers from lower and middle-income groups.

• The partnership is in line with the Reserve Bank of India’s (RBI) co-lending framework that enables banks and non-banking companies to jointly bring about financial solutions that address the needs of underserved and underserved sections of society.

SPORTS

Bahrain Grand Prix

• Defending champion Max Verstappen and Red Bull flexed their muscles at the start of the 2023 season, as the Dutchman won the season-opening race in Sakhir Bahrain Grand Prix by over 10 seconds over his teammate Sergio Perez.
• It was the first time he had won in Bahrain and also the first time he had triumphed in a Formula One opener.
• Seven times world champion Lewis Hamilton was fifth for Mercedes with Canadian Lance Stroll giving Aston Martin a bumper point haul with sixth.

AWARDS & PRIZES

Norwegian Prize

• Ukrainian rights group Truth Hounds, which documents war crimes in the Ukraine conflict awarded Norway's Sakharov Freedom Award. The Sakharov Freedom Award was established in 1980 with the support of Soviet scientist and Nobel Peace Prize laureate Andrei Sakharov.
• The prize has been awarded to the Norwegian Helsinki Committee human rights organization Truth Hounds for "documenting war crimes and possible crimes against humanity.
• Truth Hounds is a Ukrainian rights group founded during the Maidan Revolution that led to the fall of pro-Russian former Ukrainian President Viktor Yanukovych.
• The award is regularly awarded to human rights defenders from the former Soviet Union.

2023 Pritzker Prize

• British architect Sir David Chipperfield has won the 2023 Pritzker Architecture Prize.

• He is a civic architect and urban planner with an extensive work plan of projects built across 3 continents.

• David Chipperfield is the 52nd winner of the award, established in 1979.

• The 45th Pritzker Prize ceremony honoring David Chipperfield will be held in Athens, Greece in May 2023.

• It is the highest international honor for architects.
• The prize was designed to honor architects for the work they built.

National Photography Awards ceremony

• Sipra Das awarded with Lifetime Achievement award at the 8th National Photography Award ceremony.

• A total of 13 photographers have received National Photography awards in various categories in New Delhi.

• Senior photojournalist Shipra Das was honoured with Lifetime Achievement award.

• The winner of the Lifetime Achievement award was given a cash prize of Rs 3,00,000.

• The winners of Professional Photographer of the Year and Amateur Photographer of the Year category were given cash prize of Rs.1,00,000 and Rs.75,000 respectively.
• The theme of the award competition was- Cultural heritage of India (Professional category) and Life and Water (Amateur category).

APPOINTMENTS & RESIGNATIONS

Chief Minister of Nagaland

• Nationalist Democratic Progressive Party (NDPP) of Nagaland leader Shri Neiphiu Rio was sworn in as the Chief Minister (CM) of Nagaland for the 5th time in Kohima, Nagaland.
• Mr Taditui Rangkau Zeliang and Mr Yanthungo Patton also took oath as Deputy chief ministers of Nagaland.
• The NDPP- Bharatiya Janata Party (BJP) alliance won a thumping majority of 37 seats in the 60 Assembly Constituencies.
• This is the second consecutive term for NDPP- BJP alliance in the government in Nagaland.

Chief Minister of Meghalaya

• National People’s Party (NPP) chief Shri Conrad K Sagma took oath as the CM of Meghalaya for a second consecutive term in presence of PM Shri Narendra Modi.

• Prestone Tynsong and Sniawbhalang Dhar, both from the NPP, took oaths as deputy chief ministers.

• The NPP-BJP alliance, with 45 MLAs, will form the next government in Meghalaya.

• With 26 assembly seats, NPP became the single-largest party to win the 2023 polls.

• He was also minister of finance, power and tourism, Government of Meghalaya from 2008 to 2009.

DEFENCE

Maritime Partnership Exercise (MPX) with French Navy

• Indian Navy's indigenously built Guided Missile Frigate, INS Sahyadri participated in the Maritime Partnership Exercise (MPX) with French Navy (FN) ships in the Arabian Sea.

• French Navy (FN) ships FS Dixmude, a Mistral class amphibious assault ship, and FS La Fayette, a La Fayette class frigate participated in the exercise.

• The exercise featured a wide spectrum of development at sea which included cross deck landings, boarding exercises and seamanship development.
• INS Sahyadri is equipped with state-of-the-art weapons and sensors capable of detecting and neutralizing air, surface and sub-surface threats.

Indo-France Joint Military Exercise – Frinjex-2023

• The maiden Joint Military Exercise FRINJEX-23 between Indian Army and French Army will be conducted at Pangode Military Station in Thiruvananthapuram, Kerala.

• For the first time, armies of both countries are engaging in this format with each contingent comprising a Company Group.

• It is to enhance interoperability, coordination and cooperation between both forces at tactical level.

• The theme for the exercise is based on ‘Humanitarian Assistance and Disaster Relief Operations in a Contested Environment’.

• The Joint exercise will further cement defence cooperation with France which is a crucial aspect of the overall Indo-France strategic partnership.

IMPORTANT DAYS

International Women's Day

• International Women's Day is celebrated every year on 08 March.

• The theme for the year 2023 is ‘DigitALL: Innovation and technology for gender equality’.

• The theme aims to recognize women and girls who are contributing to the advancement of technology and digital education.

• The theme of the International Women's Day 2023 campaign is: Embrace Equity or #EmbraceEquity.

• International Women's Day was first officially celebrated by the United Nations in 1975 during the International Women's Year.

CISF Raising Day

• The Central Industrial Security Force (CISF) Raising Day is observed every year on 10 March. In the year 2023, the 54th Raising Day of CISF is celebrated.

• Its main objective is to strengthen national security and for this it is working continuously.

• It was established in 1969 by the Indian Parliament under the CISF Act 1968.

• CISF functions under the Union Ministry of Home Affairs.

• The CISF is tasked with providing security to India's important government infrastructure projects and industrial buildings.