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16th March Current Affairs – Top News of the Day

Today’s Current Affairs

16th 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 16th 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 16th March 2023 covering the following news headlines: SIPRI report 2023, IPL 2023, India’s retail inflation, ICC Player of the Month awards for February, GPT4, Blossom Women’s Savings Account.

National News

1. Atal Innovation Mission launches ATL Sarthi

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Atal Innovation Mission is establishing Atal Tinkering Laboratories (ATLs) in schools across India to foster curiosity, creativity, and imagination in young minds; and inculcate skills such as design thinking mindset, computational thinking, adaptive learning, physical computing, etc. As of date, AIM has funded 10,000 schools to establish Atal Tinkering Labs (ATLs).

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2. AAHAR 2023: Asia’s biggest International Food and Hospitality Fair begins in Delhi

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AAHAR 2023: The objective of Aahar 2023, which was put together with the help of the Union Ministry of Food Processing Industries, the Agriculture and Processed Food Produacts Export Development Authority (APEDA), and other organisations, is to showcase the hospitality industry’s potential and showcase technologies, goods, and services to both domestic and foreign consumers.

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International News

3. Earthquake of magnitude 7.1 strikes New Zealand’s Kermadec Island

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An earthquake of 7.1 magnitude struck the New Zealand’s Kermadec Islands region, the US Geological Survey (USGS) said.  The earthquake was estimated at a depth of 10 km (6.21 miles). The US Tsunami Warning System has issued a tsunami warning following this earthquake. Reports in the New Zealand media are suggesting issuance of relevant rescue measures to prevent further mishappenings. However, the National Emergency Management Agency (Nema) and the Bureau of Meteorology confirmed there was no tsunami threat to mainland New Zealand and Australia.

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4. Eric Garcetti appointed as US Ambassador to India

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The US Senate Committee has announced the appointment of Eric Garcetti as the new US Ambassador to India. Despite being nominated by President Joe Biden almost two years ago, Garcetti’s appointment had been pending until now.  Eric Garcetti served as the President of the City Council of Los Angeles for four consecutive terms and is known to be a close acquaintance of President Biden. He has also emerged as a leader within the Democratic Party. However, Garcetti’s tenure as mayor of Los Angeles lasted for nine years and was not without controversy. In 2020, there was a controversial incident that occurred during his time in office.

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State in News

5. Uttarakhand govt approves 10 % horizontal reservation for statehood activists 

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The government of Uttarakhand has approved a 10% horizontal reservation for statehood campaigners in state government positions. Under the direction of Chief Minister Pushkar Singh Dhami, the decision was made during a cabinet meeting held in Bhararisain. The decision on the reservation to Statehood activists assumes significance since the governor had returned the bill granting 10 per cent reservation to the statehood activists in the past. The statehood activists are not getting the benefit of reservation in government jobs for the past 12 years.

Important takeaways for all competitive exams:

  • Uttarakhand Founded: 9 November 2000;
  • Uttarakhand Chief minister: Pushkar Singh Dhami;
  • Uttarakhand Official tree: Rhododendron arboreum;
  • Uttarakhand Capitals: Dehradun (Winter), Gairsain (Summer).

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Appointments News

6. She Changes Climate campaign: Shreya Ghodawat named as Ambassador for India

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She Changes Climate campaign: Climate entrepreneur Shreya Ghodawat has been appointed as India’s ambassador for She Changes Climate– a global campaign driving awareness of the crucial role of women in accelerating just climate action. On International Women’s Day, the global non-profit organization “She Changes Climate” unveiled a new campaign called “Embrace Equity” with the goal of amplifying women’s voices regarding the effects of climate change.”

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7. Honeywell appoints veteran Vimal Kapur as CEO

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Honeywell International HON announced that company current president and chief operating officer, Vimal Kapur, will succeed Darius Adamczyk as the new chief executive officer (CEO), effective Jun 1. He has also been named to the board of directors of HON as of March 13. He has 34 years of experience working for Honeywell across multiple business models, sectors, geographic locations, and economic cycles. “The adoption of Accelerator and standardisation of global business models to enable maximal performance in each business segment” will be Kapur’s primary areas of attention as CEO.

Important takeaways for all competitive exams:

  • Honeywell International HON Founded: 1906, Wabash, Indiana, United States;
  • Honeywell International HON Founder: Mark C. Honeywell;
  • Honeywell International HON Headquarters: Charlotte, North Carolina, United States.

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Agreements News

8. India & World Bank signs loan agreement for construction of Green National Highway Corridors Project in 4 States

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The Government of India and the World Bank have signed an agreement for the Green National Highway Corridors Project, with loan assistance of $500 million against total project cost of $1,288.24 million (Rs 7,662.47 crore).  An aggregate length of 781 km will be constructed in the states of Himachal Pradesh, Rajasthan, Uttar Pradesh and Andhra Pradesh.

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Business News

9. Microsoft inks licensing deal with cloud gaming provider Boosteroid

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Microsoft strikes a deal to make Xbox PC video games available on the Boosteroid cloud gaming platform, its latest move to appease antitrust regulators scrutinising its purchase of game maker Activision Blizzard. The US tech giant said the 10-year agreement would also include Activision Blizzard titles like the popular Call of Duty franchise if or when the acquisition gets approved. Microsoft aims to boost its firepower in the booming videogaming market against leaders Tencent and Sony, and lay the base for its investment in metaverse. Also, Microsoft has been announcing new partnerships as it tries to persuade regulators in the U.S. and Europe to allow the $69 billion all-cash transaction to go through.

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Banking News

10. Banks from 18 countries get RBI’s nod to trade in rupee: Centre in RS

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The Reserve Bank of India (RBI) has permitted banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) to settle payments in rupees, the government said. Speaking in Rajya Sabha, Union Minister of State for Finance Bhagwat Kishanrao Karad said that 60 such approvals have been given by the RBI. These 18 nations include Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda and the United Kingdom.

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11. Suryodaya Small Finance Bank launched Blossom Women’s Savings Account

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Suryoday Small Finance Bank announced the launch of Blossom Women’s Savings Account’ with 7 percent per annum interest rate with monthly interest credit. In addition to this, specially designed RuPay Platinum Debit Card offering discount on shopping and online purchases will also be available with the account, Suryodaya Small Finance Bank said. The new Mahila Savings Account can be operated through the bank’s 571 banking outlets and digital banking platform.

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Economy News

12. India’s retail inflation drops to 6.44% in February 2023

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India’s retail inflation for February slows down to 6.44 percent as against 6.52 percent in January 2023, according to data published by the Ministry of Statistics and Programme Implementation on March 13.  While the CPI in January stood at 6.52 percent, the same for December 2022 was at 5.72 percent. In November, it was 5.88 percent and 5.59 percent in October 2022.

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Defence News

13. Multi-lateral ASW Exercise Sea Dragon 23 commences

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The Indian Navy deployed a P8I aircraft to Guam, USA, on March 14, 2023, to participate in the third edition of ‘Exercise Sea Dragon 23’, a coordinated multi-lateral Anti-Submarine Warfare (ASW) exercise for Long Range MR ASW aircraft organized by the US Navy. The exercise, scheduled from March 15 to March 30, 2023, will focus on coordinated ASW tactics among the participating countries and will involve advanced ASW drills.

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Science and Technology News

14. GPT-4, a new generation of AI language model announced by OpenAI

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GPT4, the most recent release of OpenAI’s large language model, which powers popular apps like ChatGPT and the new Bing, has been announced. According to San Francisco-based research company OpenAI, GPT-4 is more advanced than the previous version and has been trained on more data, costing more to operate. As per the company GPT4 “can tackle challenging issues with better accuracy” and is “more creative and collaborative than ever before.” In assignments involving creative and technical writing, GPT-4 can generate, revise, and iterate with users. The new launched model can react to both text and graphics.

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15. First abort mission of Gaganyaan in May: Govt

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The Gaganyaan program aims to demonstrate India’s capability to launch humans into Low Earth Orbit using an Indian launch vehicle and bring them back safely. The program includes four abort missions, with the first scheduled for May 2023. The program also includes several test vehicle missions and an uncrewed mission planned for 2024.

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Sports News

16. ICC Player of the Month for February: Ashleigh Gardner & Harry Brook

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The winners of the ICC Player of the Month awards for February 2023 have been revealed by the International Cricket Council (ICC), with Ashleigh Gardner of Australia being awarded the ICC Women’s Player of the Month and Harry Brook of England recovering the ICC Men’s Player of the Month titles. The outcomes of the ICC Player of the Month Awards for February are a carbon copy of those from December 2022, when both winners received their first awards following successful months for their respective teams in both the short and long formats of the game.

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17. RCB ropes in Equitas Small Finance Bank as banking partner for IPL 2023

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The news is about the Indian Premier League (IPL) team Royal Challengers Bangalore (RCB) partnering with Equitas Small Finance Bank as their banking partner for the IPL 2023 season. This partnership means that Equitas Small Finance Bank will provide a range of banking services to RCB, including salary accounts, forex, and other related financial services. This partnership campaign will be aimed to communicate that Equitas has been playing a progressive role in transforming the lives of individuals through their lending and social responsibilities of ‘beyond banking’. At present, Equitas has 10 branches across Bengaluru serving over 1.7 lakh customers with 170 employees.

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18. FIFA president Gianni Infantino re-elected for another term

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Gianni Infantino was re-elected as FIFA president until 2027 by acclamation, after highlighting his strong financial performance as a reason for keeping a CEO in their position for life. The decision was made by the congress of 211 member federations, who have seen their annual funding from FIFA increase from $250,000 to $2 million since Infantino’s first win in 2016.

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Ranks and Reports News

19. SIPRI report 2023: India world’s largest arms importer

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India is still the world’s largest importer of military equipment, despite an 11% decline in arms purchases between 2013–17 and 2018–22, according to a study by the Stockholm International Peace Research Institute (Sipri). The report is released at a time when India has intensified its efforts to become self-reliant in the defence manufacturing sector. This year’s defence budget included about Rs 1 lakh crore for domestic purchases, compared to Rs 84,598 crore, Rs 70,221 crore, and Rs 51,000 crore in the three years prior.

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Obituaries News

20. Actor Sameer Khakhar who played role of Khopdi in ‘Nukkad’ passes away

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Sameer Khakhar, an experienced actor who had worked in theater, television, and movies, has passed away. He is most remembered for his portrayal of the character “Khopdi” in the popular TV series “Nukkad.” Sameer Khakhar’s career spanned across various genres of entertainment, but his performance as Khopdi was particularly notable, earning him recognition and praise from audiences. His death is a loss to the industry and those who appreciated his talents as a versatile performer.

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