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02nd March Current Affairs – Top News of the Day

Today’s Current Affairs

02nd March 2023 Current Affairs are incorporated with the important news that made the current affairs headlines for banking, UPSC or other competitive exams. Daily Current Affairs is the complete bag of important news that is held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the Top News of the Day for 02nd March 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz. 

Here is the Current Affairs 02nd March 2023 covering the following news headlines: 47th Civil Accounts Day, Raisina Dialogue, GSMA Government Leadership Award, GST revenue, Windsor framework.

National News

1. Nitin Gadkari Inaugurated 7 National Highway Projects in MP

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Union Minister for Road Transport and Highways Nitin Gadkari inaugurated 7 National Highway projects worth Rs 2,444 crore, totaling 204 km in Rewa, Madhya Pradesh. Union Minister Nitin Gadkari informed that with the construction of the Churhat tunnel and bypass, the length between Rewa to Sidhi has decreased by 7 km. Now instead of two and a half hours, people will be able to cover this distance in 45 minutes.

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2. Pusa Krishi Vigyan Mela Organized by IARI in New Delhi

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The Pusa Krishi Vigyan Mela is organized every year by the Indian Agricultural Research Institute (IARI) and this year it will be held in New Delhi from 2nd to 4th March 2023. The Pusa Krishi Vigyan Mela will be inaugurated by the Chief Guest, Union Minister of Agriculture and Farmers Welfare, Narendra Singh Tomar. This time the theme of the fair is “Nutrition, Food and Environmental Protection with Shree Anna”.

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International News

3. Bola Tinubu elected as the new President of Nigeria

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Nigerian electoral officials announced on 1 March 2023 that the ruling party’s candidate in the presidential election, Bola Tinubu, has been elected as the country’s new president. Bola Tinubu has been associated with the ‘All Progressive Congress Party’ from which he has been winning elections. He will become Nigeria’s fifth president since the country returned to democratic rule in 1999, emerging as winner for the country’s top job on his first attempt.

Important takeaways for all competitive exams:

  • Nigeria Capital: Abuja;
  • Nigeria Currency: Nigerian naira;

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4. Japan, U.S., South Korea, Taiwan launch ‘Chip 4’ talks for supply chain

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Japan, the United States, South Korea and Taiwan have held the first meeting of senior officials under a new U.S.-led framework to help ensure a stable supply of semiconductors, Japan’s industry ministry said. Officials from industry organizations in the four economies took part in the virtual conference of the “Chip 4” alliance on Feb. 16 to discuss ways to maintain supply chain resilience in times of natural disasters and other contingencies.

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5. The Windsor framework: The deal between UK and EU

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After months of intensive talks, the United Kingdom and European Union have unveiled an agreement on the Northern Ireland Protocol, called the Windsor Framework. This is not a new protocol or a fundamental rewrite of the current treaty. But the package announced this week is an improved deal that could substantively ease how the protocol will operate for businesses as well as individuals. It is a negotiating achievement that marks a turning point in the long road since Brexit for Northern Ireland.

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6. What is POTS, a disease which affected 1 million Americans after Covid

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POTS or postural orthostatic tachycardia syndrome has affected around three million Americans before Covid-19 and at least one million new patients after the pandemic. Many people are still not familiar with the disease. A study reveals that around 2% to 14% of people with covid develop POTS.

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States News

7. Salhoutuonuo Kruse and Hekani Jakhalu become 1st women MLAs from Nagaland

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Salhoutuonuo Kruse and Hekani Jakhalu, both from the ruling Nationalist Democratic Progressive Party, made history by becoming the first women candidates to be elected in the state assembly election. In a significant milestone, people in Nagaland have elected two women candidates after 60 years since it attained statehood. Kruse won from Western Angami AC and Jakhalu clinched Dimapur-III constituencies.

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Economy News

8. 1,49,577 Crore gross GST revenue collected in February 2023

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The gross goods and service tax (GST) revenue collection in the month of February 2023 stood at Rs 1,49,577 crore, up around 12% on an annual basis. With this, the monthly GST revenues remained over Rs 1.4 lakh crore for 12 straight months in a row, the Finance Ministry said in a statement. India’s GST revenue in February 2022 was Rs 1,33,026 crore.

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 Banking News

9. Axis Bank completes deal to buy Citibank’s India consumer business

 

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Axis Bank completed the acquisition of Citibank’s consumer business. The deal, which was announced in March 2022, will see India’s third-largest private sector bank absorbing Citibank’s consumer businesses, covering loans, credit cards, wealth management and retail banking operations in India. The deal happened after Citigroup in 2021 announced its decision to shutter its retail banking operations in 13 countries, including India, as part of a global business strategy. Axis Bank put out a video advertisement to welcome Citibank’s 30 lakh plus customers on March 1.

Important takeaways for all competitive exams:

  • Axis Bank  Founded: 1993, Ahmedabad;
  • Axis Bank  CEO: Amitabh Chaudhry (1 Jan 2019–);
  • Axis Bank  Headquarters: Mumbai.

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10. HDFC Bank, IRCTC launch India’s most rewarding co-branded travel credit card

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Indian Railway Catering and Tourism Corp Ltd (IRCTC) and HDFC Bank, announced the launch of a co-branded travel credit card. Known as the IRCTC HDFC Bank Credit Card, the newly launched co-branded card is available exclusively on NPCI’s Rupay network. The card will provide exclusive benefits and maximum savings on bookings of train tickets booked through the IRCTC’s ticketing website and through IRCTC Rail Connect app. The IRCTC HDFC Bank Credit Card will enable us to offer our card to millions of Indians across the country.

Important takeaways for all competitive exams:

  • IRCTC Chairman & Managing Director: Rajni Hasija;
  • IRCTC Headquarters: New Delhi;
  • IRCTC Founded: 27 September 1999.
  • HDFC Bank CEO: Sashidhar Jagdishan (27 Oct 2020–);
  • HDFC Bank Founded: August 1994, Mumbai;
  • HDFC Bank Headquarters: Mumbai

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11. RBI’s new pilot project on coin vending machines

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Recently, RBI Governor Shaktikanta Das had stated during the most recent Monetary Policy Committee (MPC) address that the apex banking regulator, in collaboration with banks, would launch a pilot project to evaluate the operation of a QR-code based coin vending machine. The vending machines would dispense coins, with the appropriate amount debited from the customer’s account via the United Payments Interface (UPI), instead of physically tendering banknotes.

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Defence News

12. Indian Army to Buy 310 Indigenous Advanced Towed Artillery Gun System

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The Ministry of Defence received a proposal from the Indian Army to buy 310 Advanced Towed Artillery Gun Systems (ATAGS) for deployment along the borders with China and Pakistan, marking a significant step towards ‘Make-in-India’ in the defense sector. The Indian Army has submitted a proposal worth more than USD 1 billion, which is currently being discussed.

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13. India approves purchase of 70 HTT-40 basic trainer aircraft

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The Union Cabinet approved the procurement of 70 HTT-40 basic trainer aircraft from Hindustan Aeronautics Limited (HAL). The approval was given to the Indian Air Force (IAF). The procurement would cost around Rs 6,828 crore. The aircraft will be supplied over a period of six years. The aircraft is expected to meet the shortage of basic trainer aircraft of the IAF required for training newly inducted pilots. The aircraft, being an indigenous solution, is configurable for upgrades to incorporate the futuristic requirements of the IAF. The procurement will include associated equipment, training aids and simulators.

Important takeaways for all competitive exams:

  • HAL Chairman and Managing Director (CMD) : Ananthakrishnan;
  • HAL Founded: 23 December 1940;
  • HAL  HQ: Bengaluru;
  • HAL Founder: Walchand Hirachand.

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Awards News

14. India Wins GSMA Government Leadership Award 2023

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Groupe Speciale Mobile Association (GSMA) has conferred Government Leadership Award 2023 to India for implementing best practices in telecom policy and regulation. GSMA, which represents more than 750 mobile operators and 400 companies in the telecom ecosystem, recognizes one country every year. India was declared winner in the ceremony held at Mobile World Congress Barcelona.

Important takeaways for all competitive exams:

  • GSMA Chairperson: Stéphane Richard;
  • GSMA Headquarters: London, England, UK;
  • GSMA Founded: 1995.

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Summits and Conferences News

15. PM Modi To Inaugurate 3-Day Raisina Dialogue in New Delhi

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The eighth edition of the annual Raisina Dialogue, the flagship conference on geopolitics and geo-strategy, begins in New Delhi. The annual Raisina Dialogue will be inaugurated by Prime Minister Narendra Modi. The Foreign Ministry is organizing the event in collaboration with the Observer Research Foundation from 2nd March to 4th March 2023. Italian Prime Minister Giorgia Meloni will be the chief guest and keynote speaker at its inaugural session.

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Ranks and Reports News

16. Reliance Jio second-strongest telecom brand in world, says report

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Reliance Jio has climbed up to number two rank — up from fifth place last year — in a list of the top 10 strongest telecom brands in the world. In this post we will explore the Top 150 most valuable and strongest telecoms operator brands according to Brand Finance 2023 rankings. Swisscom increased brand value by 5 percent to $6.3 billion and is the strongest telecoms brand with a Brand Strength Index (BSI) score of 92.

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Important Days

17. Controller General of Accounts celebrates 47th Civil Accounts Day

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The Civil Accounts Day was celebrated on 1st March to mark the 47th foundation day of Indian Civil Accounts Service (ICAS). The Indian Civil Accounts Service was constituted in 1976, after the the maintenance of Accounts of the Union government was separated from that of Audit. Consequently, the Comptroller and Auditor General of India was divested with this responsibility.

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Miscellaneous News

18. Two Australian Universities to set up Campuses in Gujarat’s GIFT City

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Union Education Minister Dharmendra Pradhan announced that two Australian universities Wollongong and Deakin are set to establish campuses in Gujarat’s ‘GIFT City’. The two universities will sign an agreement on setting up their campuses during Australian Prime Minister Anthony Albanese’s maiden visit to India next week.

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