NATIONAL NEWS

India has Joined the Agricultural Innovation Mission

• India has joined the Agricultural Innovation Mission for Climate.
• With an aim to accelerate investment and support for climate-smart agriculture and food systems innovation, the US and the UAE have launched this global platform.
• India has joined the Agriculture Innovation Mission for Climate (AIM4C), which was launched by the two nations in November 2021.
• The AIM4C climate-smart wants to increase investment and support for the innovation of agriculture and food systems.
• The AIM4C initiative has successfully increased these investments to more than USD8 billion globally.

JK Education Fair 2023

• Union External Affairs Minister Shri S Jaishankar inaugurated Jammu and Kashmir’s first-ever International Education Fair in New Delhi

• It is being organized in a collaborative effort of the Sher-e-Kashmir University of Agricultural Science and Technology (SKUAST-Kashmir) and the Indian Council for Cultural Relations (ICCR).

• Education Minister Dharmendra Pradhan, Minister of State at PMO Jitendra Singh, Jammu, and Kashmir Lieutenant Governor Manoj Sinha also attended the event held at Sushma Swaraj Bhawan.

Life Sciences Industry Ecosystem by 2028

• Telangana government is aiming to increase the size of the pharma-life sciences ecosystem in the State from $50 billion to $100 billion by 2028.
• This was announced by the State Industries Minister KT Rama Rao at the inaugural session of the 20th edition of BioAsia,2023 the flagship pharma-life sciences conference of the State.
• The upcoming Hyderabad Pharma City with a life sciences university and B-Hub to encourage start-ups will further boost the pharma-life sciences industry in the State.
• BioAsia 2023 will be the 20th edition of Telangana’s annual flagship event is scheduled for 24 February-26 February 2023 at HICC Novotel, Hyderabad.
• The United Kingdom (UK) is the country partner for BioAsia 2023.
• Theme: ‘Advancing for ONE – Shaping the next generation of humanized healthcare’.

BANKING

State Bank of India Raises Rs 4,544 crore

• State Bank of India (SBI) announced that it has raised Rs 4,544 crore through allotment of Basel III compliant AT-1 bonds like debentures.

• These non-convertibles, taxable, perpetual, subordinated, unsecured, fully paid-up Basel III compliant AT- 1 bonds like debentures have a coupon rate of 8.20% per annum.

• The bonds are perpetual and there is no maturity date.

• The AT-1 bonds are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) of India.

• While AT1 bonds are a perpetual debt instrument used by banks to augment their core capital, issuers can redeem them through a call option after a specified period.

ADB to Support for India’s Development Priorities

• Asian Development Bank (ADB) President Masatsugu Asakawa announced ADB is to provide USD 20–25 billion in resources over 5 years to support India’s ambitions for rapid, inclusive, and green growth.

• ADB assistance to meet the country’s priority development needs, and ADB’s country partnership strategy (CPS) for India, 2023–2027. 

• ADB is now finalizing the new 5-year CPS following a comprehensive stakeholder consultation process.

• ADB will provide multifaceted support for India’s key priorities, including the important infrastructure push under the PM’s Gati Shakti (National Master Plan for multimodal connectivity) initiative, building future cities, etc.

BUSINESS

Social Stock Exchange as a Separate Segment

• The National Stock Exchange (NSE) has received final approval from the Securities and Exchange Board of India (SEBI) to set up a Social Stock Exchange (SSE) as a separate segment of the NSE.

• SSE is a novel idea in India, and a stock exchange of this kind is intended to benefit the private and non-profit sectors by directing more capital to them.

• The SSE will function as a distinct division of the current stock exchanges under the new regulations.

• Not-for-profit organizations (NPOs) and for-profit social enterprises with social intent and impact as their primary goal will be eligible to participate in the SSE.
• According to SEBI’s framework, a minimum issue size of ₹1 crore and a minimum application size for the subscription of ₹2 lahks are currently required for SSE.

AWARDS & PRIZES

HCA Film Awards 2023

• RRR has bagged three big awards at the Hollywood Critics Association (HCA) Film Awards 2023.
• Directed by SS Rajamouli, the film has been given the HCA Film Award for Best Action Film, Best Stunts, Best International Film and Best Song for the song Natu Natu.
• Ram Charan also presented the award at the Hollywood Critics Association Awards 2023. He was the only Indian actor in the list of presenters.
• RRR's film song 'Natu Natu' made a record by winning the Grammy Award.

Entrepreneur of the Year 2022

• Union Petroleum Minister Hardeep Singh Puri honoured Indian industrialist Sajjan Jindal with the Best Entrepreneur of the Year Award for the year 2022.
• Sajjan Jindal is the Chairman and Managing Director of the JSW Group of Companies.
• It is because of his vision and foresight that the group has gained a distinct place in the business from steel to mining, energy, sports, infrastructure and software.
• The Lifetime Achievement Award was given to KP Singh, Chairman, DLF Group.
• Pratapaneni (Co-founder of MedGenome) was awarded in the startup category at the same event.
• Similarly, Mahendra Shah, MD & CEO, IndusInd First Bank was also awarded in the Financial Services category.

DEFENCE

Indian Submarine INS Sindhukesari Docks in Indonesia

• Indian Naval Ship (INS) Sindhukesari has become the first Indian submarine to dock in Indonesia, amid the conflict between China and Indonesia in the South China Sea.

• It is an attempt to strengthen bilateral relations as part of diplomatic-military outreach to the Association of Southeast Asian Nations (ASEAN).

• INS Sindhukesari is part of the Russian-made Sindhughosh-class submarines.
• It is a 3,000-tonne Kilo-class diesel-electric submarine.
• It was designed as part of Project 877 and built under a contract between Rosvooruzhenie, Russia and the Ministry of Defence (India).
• The Kilo Class is the NATO designation for a naval diesel-electric submarine made in Russia.

Indian Air Force to Conduct Exercise Cobra Warrior

• Indian Air Force departs for the British Royal Air Force to participate in Exercise Cobra Warrior at Waddington Air Force Base.
• This exercise is proposed to be organised from 06 March 2023 to 24 March 2023.
• Exercise Cobra Warrior is a multilateral air military exercise in which air forces from Finland, Sweden, South Africa, USA and Singapore are also participating along with the Royal Air Force and Indian Air Force.
• The Indian Air Force is participating in the exercise this year with five Mirage 2000 fighter jets, two C-17 Globemaster III and one IL-78 midair refuelling aircraft.
• The aim of the exercise is to engage in a variety of activities by different fighter aircraft and learn from the best practices of different air forces.

SCIENCE & TECHNOLOGY

NASA to Launch Israel’s 1st Space Telescope Mission

• The United States (US) National Aeronautics and Space Administration (NASA) and Israel’s Ministry of Innovation, Science and Technology signed a partnership that will send Israel’s first space telescope mission, the Ultraviolet Transient Astronomy Satellite (ULTRASAT) in early 2026.

• The Israel Space Agency and the Weizmann Institute of Science are behind the premier project.

• ULTRASAT is an ultraviolet observatory with a large field of view that will investigate the secrets of short-duration events in the universe, such as supernova explosions and mergers of neutron stars.

• It is planned to launch into a geostationary orbit around Earth.
• The geostationary orbit is a special case of the geosynchronous orbit, which is any orbit with a period equal to Earth’s rotation period.

IMPORTANT DAYS

World NGO Day

• World NGO Day is observed every year on February 27.

• World NGO Day is a day set aside to recognize, celebrate and honor the fundamental contributions and profound impact that these independent organizations have had on the world.

• World NGO Day was originally founded in 2009 by Marcis Liors Skadmanis, a social entrepreneur.

• However, it was observed for the first time on February 27, 2014.

• It’s a day set aside to honor all non-governmental and nonprofit organizations, recognizing their impact on the world.

National Protein Day

• 'National Protein Day' is celebrated every year on 27 February.

• The main purpose of organising this day is to spread awareness regarding the nutritional benefits of protein.

• Right to Protein, a national level public health initiative, organised the first ever Protein Day in India on February 27, 2020.