Daily GK Update: 24th February 2023

 National & International Appointments

1. CAG Girish Chandra Murmu selected as External Auditor of ILO in Geneva

• Comptroller and Auditor General (CAG) Girish Chandra Murmu has been selected as the External Auditor of the International Labour Organization (ILO) in Geneva.
• He has been selected for a four-year term from 2024 to 2027.
• CAG will take over from the incumbent External Auditor of ILO, the Supreme Audit Institution of the Philippines.
• CAG’s appointment is a recognition of its standing among the international community and its professionalism, and its global audit experience

 National & International Appointments

2. Former Mastercard CEO, Ajay Banga nominated to Lead World Bank

• US President, Joe Biden has nominated former Mastercard CEO Ajay Banga as the president of the World Bank.
• He would replace David Malpass, who will step down from his role this June before completing his tenure in April 2024.
• He was nominated for his expertise in handling global challenges including climate change.
• Presently, he is serving as the vice chairman at private equity firm General Atlantic.
• Notably, he is the first Indian-born nominee for this role.

 Honours & Awards

3. Sajjan Jindal wins EY Entrepreneur of the Year Award 2022

• Chairman of JSW Group Sajjan Jindal was honored with the EY Entrepreneur of the Year Award 2022.
• Reason: For his exceptional entrepreneurial journey in scaling the global conglomerate with a presence in steel, cement, infrastructure, energy, and paints
• He will now represent India at the EY World Entrepreneur of the Year Award (WEOY) at Monte Carlo in June 2023.
• While K P Singh, Chairman Emeritus, DLF Group, was honored with the Lifetime Achievement Award.

 National Affairs

4. New Delhi World Book Fair 2023 to begin

• The New Delhi World Book Fair will be started at Pragati Maidan in New Delhi from 25th Febraury to 5th March 2023.
• The Union Education Minister Dharmendra Pradhan will inaugurate the fair.
• The 2023 theme of the fair is Azadi Ka Amrit Mahotsav.
• The Guest of Honour Country: France
• The G20 theme has been integrated with the book fair, and exhibitions of books from G20 member countries will be organized during the fair.
• NBT Chairman: Prof. Govind Prasad Sharma

 Banking & Finance

5. Niva Bupa launches health insurance plan 'ReAssure 2.0'

• Niva Bupa Health Insurance has launched a new health insurance policy named 'ReAssure 2.0'.
• Aim: To encourage customers to start investing for their health and financial security at an early age
• This new-age indemnity plan offers a 'live healthy' benefit.
• It gives a premium discount of up to 30% on policy renewal basis health points earned.
• It is available as an individual, multi-individual, and family floater starting from Rs 5 lakh to Rs 1 crore.
• Age: 18 -65 yrs

 National Affairs

6. 22nd Law Commission's term extended till August 2024

• The Union Cabinet chaired by PM Narendra Modi has approved the extension of the term of the 22nd Law Commission of India from 20th February 2023 to 31st August 2024.
• The 22nd law panel was constituted for three years on 21st February 2020.
• Law Commission of India:
  • It is a non-statutory body and is constituted by the Government of India from time to time.
  • It was originally constituted in 1955.
• Chairperson: Justice (retired) Rituraj Awasthi

 Banking & Finance

7. Thomas Cook, Pine Labs launch UPI payment facility for foreign visitors

• Pine Labs and Thomas Cook (India) partnered with National Payments Corporation of India to enable payments via UPI for foreign nationals from G20 countries.
• Pine Labs will issue the prepaid payment product under the PPI authorization from RBI.
• This facility can be accessed on arrival in India at Thomas Cook’s airport counters.
• When encashing foreign currency at Thomas Cook’s counter, the customer can open a Pine Labs Fave Money prepaid account loaded with the rupee value

 Banking & Finance

8. Karnataka Bank, Paisalo Digital ink co-lending pact

• The NBFC Paisalo Digital Ltd entered into a co-lending loan agreement with Karnataka Bank to meet the funding requirements of priority segments such as agriculture and MSME.
• This agreement will enable Paisalo Digital to drive financial inclusion by providing low-cost financial solutions to priority sectors.
• As per the RBI circular, released on November 5, 2020, banks and NBFCs can enter into tie-ups for the joint contribution of funding for priority sectors.

 Defense

9. Abu Dhabi defence firm, India's HAL sign MoU at UAE's defence expo

• UAE's leading defense group, EDGE signed a Memorandum of Understanding with India's aerospace firm Hindustan Aeronautics Limited (HAL) at the International Defence Exhibition and Conference (IDEX).
• Aim: To explore the areas of cooperation, including joint design and development of missile systems and Unmanned aerial vehicles (drones)
• Besides, both companies will also explore the utilization of HAL's small gas turbine engines on EDGE's guided weapons.

 State Affairs

10. Govt approves Innovative Extension Approaches for Revitalising Agriculture

• The J&K govt has approved a five-year project on Innovative Extension Approaches for Revitalising Agriculture in J&K.
• Aim: To give a push to sustainable agriculture
• The project, worth 463 crore rupees, is also aimed to empower farmers and educated youth through technology-driven and inclusive agri-extension services.
• One of the critical outcomes would be the creation of 2,000 Kissan Khidmat Ghars, which will serve as One Stop Centre for farmer-oriented services

 National Affairs

11. NTPC ranked as the top Independent Power Producers

• NTPC Limited has topped the ranking of 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 (ROI).
• Presently, NTPC contributes 24% of the total electricity produced in India.
• NTPC is targeting non-fossil fuel-based capacity to make up nearly 50% of the company’s portfolio by 2032.

 Banking & Finance

12. Alliance, Dunzo tie up to offer insurance to 20,000 delivery partners

• Dunzo delivery joined hands with Alliance Insurance Brokers to provide insurance to its national network of delivery partners.
• With this initiative, Alliance Insurance Brokers is providing insurance protection to almost 20,000 delivery partners, insured on a daily basis, while they are active on the platform.
• In case of an accident, the policy offers a benefit of Rs 5 lakh to cover children’s education and reimburse business losses and hospitalization expenses.

 Banking & Finance

13. Kotak Mahindra Bank launches corporate customer platform fyn

• Kotak Mahindra Bank has launched a unified portal named 'Kotak fyn' for corporate customers.
• Aim: To track their payments, collections, trade, and other services related to their bank accounts
• The bank is also planning to introduce a new loan origination and management system that would digitize the process from the loan application, to sanction, to disbursal.
• This system would reduce the turnaround time for corporate borrowers and make the process more transparent.