Daily GK Update: 15th March 2023

 Honours & Awards

1. Tamil writer Perumal Murugan's novel longlisted for Booker Prize 2023

• Tamil writer Perumal Murugan's novel 'Pyre' has been selected for the International Booker prize longlist for 2023.
• This book is a translation of his original Tamil book 'Pukkuli' which tells the story of an inter-caste couple who elope, setting in motion a story of terrifying foreboding.
• Aniruddhan Vasudevan translated this novel into the English language in 2016.
• Prize money: £50,000, will be split equally between the author and translator.

 National & International Appointments

2. Govt appoints two Managing Directors at LIC

• The government has appointed two Managing Directors (MD) of the Life Insurance Corporation of India (LIC) - M Jagannath and Tablesh Pandey.
• M Jagannath took the charge as MD on March 13, 2023.
• Before this, he was working as the Zonal Manager of South Central Zone, Hyderabad and
• While Tablesh Pandey is an Executive Director at the Central office of LIC in Mumbai and will take charge on April 1, 2023.
• Pandey will replace present managing director B C Patnaik.

 Defense

3. DRDO successfully conducts flight test of Power Take off Shaft on LCA Tejas

• DRDO has successfully conducted a flight test of the Power Take Off (PTO) Shaft on Light Combat Aircraft (LCA Tejas) Limited Series Production (LSP)-3 aircraft in Bengaluru.
• The PTO shaft is indigenously designed and developed by the Combat Vehicles Research & Development Establishment (CVRDE), Chennai.
• The PTO shaft is a critical component in the aircraft.
• It supports the requirements of future fighter aircraft and their variants and offers competitive costs.

 National Affairs

4. Atal Innovation Mission launches ATL Sarthi

• Atal Innovation Mission (AIM) - NITI Aayog launched ATL Sarthi.
• It is a comprehensive self-monitoring framework to strengthen the ecosystem of Atal Tinkering Labs.
• Atal Innovation Mission has established Atal Tinkering Laboratories (ATL) in schools to foster curiosity, creativity, and imagination in young minds.
• ATL Sarthi is a charioteer and will enable the Atal Tinkering Labs to be efficient and effective.
• Mission Director AIM, NITI Aayog: Dr. Chintan Vaishnav

 Banking & Finance

5. Wholesale inflation falls to two-year low of 3.85% in February

• Wholesale Price-based Inflation (WPI) has been eased to two years low of 3.85% in February 2023 against 4.73% recorded in January 2023.
• It will primarily contribute to the fall in the prices of crude petroleum, food products, electronics, chemicals, and electrical equipment.
• In February, fuel and power rose 14.82% as compared to 15.15% in January 2023.
• While the food index stood at 2.76% (Feb 2023) against 2.95% (Jan 2023).
• Retail inflation (Feb 2023): 6.44%

 Banking & Finance

6. RBI has allowed banks from 18 countries to trade in rupee

• RBI has granted approval to foreign banks in 18 countries to open Vostro accounts to settle international trade in rupees.
• 18 Countries: Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and UK
• MoS Finance, Bhagwat Karad informed in the Rajya Sabha.
• In July 2022, govt informed that it would set up a mechanism to settle international trade in rupees.

 Banking & Finance

7. CCI approves Reliance’s acquisition of METRO Cash & Carry India

• The Competition Commission of India (CCI) has approved Reliance Industries Ltd to acquire the German firm Metro AG's wholesale operations in India for ₹2,850 crore.
• On 22 December 2022, Reliance Retail Ventures Ltd (RRVL) signed definitive agreements to acquire a 100% equity stake in Metro Cash & Carry India Pvt Ltd.
• Metro started operations in India in 2003 as the first company to introduce a cash-and-carry business format in the country.

 Important Dates

8. World Consumer Rights Day 2023: March 15

• World Consumer Rights Day is celebrated on March 15 every year to raise awareness about consumer rights and promote consumer protection.
• 2023 Theme: Empowering Consumers Through Clean Energy Transitions
• This day was first observed on March 15, 1983, which was inspired by US President John Fitzgerald Kennedy's US Congress address on March 15, 1962.
• He addressed the issue of consumer rights and laid emphasis on its importance.

 National & International Appointments

9. Mary Kom, Farhan Akhtar roped in as brand ambassadors of Women's Boxing

• The Boxing Federation of India (BFI) appointed legendary boxer MC Mary Kom and actor Farhan Akhtar as the brand ambassadors of the IBA Women’s World Championships 2023.
• BFI also unveiled the title sponsor, Mahindra Automotive for the event.
• The championship is scheduled from March 15 to 26 at the Indira Gandhi Sports Complex in New Delhi.
• India is hosting the World Championships for the third time.
• President, Boxing Federation of India: Ajay Singh

 Defense

10. 13th edition of Exercise Bold Kurukshetra concluded

• The 13th edition of a bilateral armour exercise, EX Bold Kurukshetra, between India and Singapore was concluded on March 13, 2023, at Jodhpur Military Station, India.
• The ten-day-long joint training that commenced on March 5, fostered a common understanding of mechanized warfare in emerging threats and evolving technologies.
• It involved soldiers from the 42nd Battalion, Singapore Armoured Regiment and Armoured Brigade of the Indian Army.

 National Affairs

11. BIS launches 'Learning Science via Standards' initiative for students

• The Bureau of Indian Standards (BIS) has launched the ‘Learning Science via Standards’ series for students.
• Focus: Aimed to use scientific concepts, principles, and laws to help students understand their practical applications in manufacturing, functioning, and testing of quality characteristics of different products
• This series is in a continuum with an earlier BIS initiative under which ‘Standards Clubs’ are being established in educational institutions.

 Science & Technology

12. OpenAI launches 'GPT-4' with higher accuracy

• The artificial intelligence research company, OpenAI has unveiled its new and more advanced model called GPT-4.
• The latest version is more creative and accurate in its response.
• It has better problem-solving capabilities than ChatGPT (developed by OpenAI).
• GPT-4 is a large multimodal model, which cannot outperform humans in real-world scenarios but can exhibit “human-level performance on various professional and academic benchmarks.

 Obituaries

13. Veteran actor Sameer Khakhar passes away

• Actor Sameer Khakhar, best known for his role in the iconic television show Nukkad, has died at 71 due to respiratory and other medical problems.
• He rose to fame with his roles in TV shows ‘Nukkad’ and ‘Circus’.
• He was also featured in ‘Shrimaan Shrimati’, and ‘Adaalat’.
• He also played vital roles in films, including ‘Hasee Toh Phasee’, ‘Jai Ho’, and ‘Patel Ki Punjabi Shaadi’.
• He was last seen in the OTT series ‘Farzi’.