Daily GK Update: 16th February 2023

 Honours & Awards

1. Karnataka Bank wins Prathista Puraskar under Digidhan Award 2021-22

• The Karnataka Bank was honored with the ‘Prathista Puraskar’ under the ‘Digidhan Awards 2021-22’ by the Ministry of Electronics and Information Technology (Meity).
• Reason: To achieve the target with the highest percentage in BHIM-UPI transactions in the private sector bank category.
• DigiDhan award is a recognition for the top-performing banks in the digital payments space.
• MD& CEO of Karnataka Bank: Mahabaleshwara MS
• Karnataka Bank HQ: Mangaluru

 Honours & Awards

2. Kantara’s Rishab Shetty wins ‘Most Promising Actor Award’ at DPIFF 2023

• Kantara movie actor & director, Rishab Shetty will be honored with the Most Promising Actor Award at the Dadasaheb Phalke International Film Festival (DPIFF) Award 2023 on February 20 in Mumbai.
• He was awarded for his stellar performance in the Kannada film, Kantara.
• Rishab Shetty is an Indian actor and filmmaker primarily working in Kannada cinema.
• DPIFF was founded in 2012 and established in 2016.
• DPIFF CEO: Abhishek Mishra

 National Affairs

3. Cabinet approves “Vibrant Villages Programme”

• The Union Cabinet has approved the Centrally Sponsored Scheme “Vibrant Villages Programme” for the Financial Years 2022-23 to 2025-26 with a financial allocation of Rs. 4800 Crore.
• The scheme will provide funds for the development of essential infrastructure and the creation of livelihood opportunities.
• In the first phase, 663 Villages will be taken up in the program.
• Aim: To improve the quality of life of people living in identified border villages.

 National Affairs

4. Cabinet approves MoU between India, Chile in agricultural sector

• The Union Cabinet, chaired by PM Modi, has approved the signing MoU between India and Chile for cooperation in the field of Agriculture and Allied sectors.
• Main areas of cooperation:
  • Agricultural policies for the development of modern agriculture
  • Organic agriculture to facilitate the bilateral trade of organic products
  • Promote innovation in the agricultural sector 
• Both countries will constitute a Chile-India Agricultural Working Group.
• Chile Capital: Santiago

 National Affairs

5. Cabinet approves MoU for cooperation in Disability Sector

• The Union Cabinet has approved the Memorandum of Understanding (MoU) between India and South Africa for cooperation in the Disability Sector.
• The decision was taken in the Cabinet meeting headed by Prime Minister Narendra Modi.
• Aim: To encourage cooperation between the Department of Empowerment of Persons with Disabilities in India and South Africa
• This MoU will strengthen the bilateral ties between India and South Africa.
• South Africa President: Cyril Ramaphosa

 Banking & Finance

6. Indian Overseas Bank launches electronic bank guarantee scheme

• Indian Overseas Bank has launched the facility of issuance of the e-BG (Electronic Bank Guarantee) scheme in association with the National e-Governance Services Ltd.
• e-BG: An instrument issued by the bank in which the bank agrees to guarantee a particular sum in the event that the applicant fails to fulfill an action/performance.
• It is a paperless mode with digital stamping and digital signature.
• Real-time issuance would make it available for the beneficiary instantly.

 Banking & Finance

7. Muthoot FinCorp launches Vyapar Mitra

• Muthoot FinCorp has introduced ‘Vyapar Mitra Business Loans’ to provide working capital and business loans to micro and small businesses like traders.
• This new feature can offer business loans based on their daily cash flow without additional collateral.
• Besides, one can receive a business loan without Income Tax Return (ITR) papers and no prior CIBIL score records.
• Benefits: No prepayment charges, loan renewals up to three times a year, and simple and fast documentation

 Banking & Finance

8. Paytm Payments Bank becomes first to launch UPI LITE feature

• Paytm Payments Bank Limited (PPBL) has launched the UPI LITE feature, which is enabled by the National Payments Corporation of India (NPCI) for multiple small-value UPI transactions.
• The feature enables faster real-time transactions with a single click through Paytm.
• Aim: To drive the adoption of digital payments across the country
• UPI LITE was launched by the RBI in September 2022.
• A UPI LITE wallet allows a user to do instant transactions of up to ₹200.

 National Affairs

9. India and Spain agree to collaborate on digital infrastructure

• Prime Minister Narendra Modi and his Spanish counterpart, Pedro Sánchez had a telephone conversation to discuss ways to further strengthen the growing relationship between both countries.
• Both leaders discussed a number of bilateral and international issues of mutual interest.
• They also agreed to collaborate on issues such as digital infrastructure, climate action, clean energy transition, and sustainable development.
• Spain Capital: Madrid

 Banking & Finance

10. EbixCash becomes first entity to enable UPI for foreign nationals

• EbixCash Limited has become the first company in India to launch and enable Unified Payments Interface (UPI) transactions for foreign nationals visiting India.
• It will offer UPI services to international delegates attending the G-20 summit, being held in India.
• This facility will be enabled across all other entry points in the country.
• It can be extended to foreign travelers after physical verification of the Passport and Visa of the customers at the point of issuance.

 Banking & Finance

11. CAMSPay receives RBI nod to operate as payment aggregator

• CAMSPay has received in-principle approval from RBI to operate as a payment aggregator.
• It is a part of Chennai-based Computer Age Management Services (CAMS)
• CAMS is India’s largest registrar and transfer agent of mutual funds.
• CAMSPAy is a payment platform specializing in solving the banking and finance services sector's payment challenges.
• Payment aggregators are entities that on-board digital merchants and accept payments on their behalf after getting a licence.

 National Affairs

12. Union Cabinet approves construction of Shinku La Tunnel

• The I&B Minister, Anurag Singh Thakur has informed that the Union Cabinet has approved the construction of the Shinku La Tunnel in Ladakh.
• Reason: To provide all-weather connectivity in Ladakh region
• The construction work of this 4.1-kilometer tunnel will be completed by December 2025.
• The total expenditure on this project will be 1,681 crore rupees.
• The tunnel will lead to the development of the region and boost the tourism, Health, and education sectors.

 Defense

13. Indian Army gets 'World's First' fully operational SWARM Drone System

• Bengaluru-based start-up, NewSpace Research has delivered SWARM drones to Indian Army.
• These drone systems will make the Army the first major armed force in the world to operationalize with these high-density SWARM drones.
• The swarm of 100 drones is capable of hitting targets at least 50 km away into enemy territory.
• It is a part of the Aatmanirbhar effort to indigenize critical and disruptive military technologies.