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17th March Current Affairs – Top News of the Day

Today’s Current Affairs

17th 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 17th 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 17th March 2023 covering the following news headlines: National Vaccination Day, World Sleep Day, REACHOUT scheme, Governor of the Year, Learning Science via Standards, IDFC FIRST Bank.

National News

1. Indian Railways to become Net Zero Carbon Emitter by 2030

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Indian Railways has set a target of becoming a ‘net-zero carbon emitter’ by 2030, said Union Railways Minister Ashwini Vaishnaw in a written reply to the Lok Sabha. The Railways plans to achieve this ambitious target in two steps: A complete transition to electric trains by December 2023 and powering the trains and stations primarily through non-renewable sources by 2030.

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2. Narender Singh Tomar inaugurates “AgriUnifest” in Bengaluru

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Union Minister of Agriculture and Farmers Welfare Narendra Singh Tomar on 15 March 2023, inaugurated “AgriUnifest” in Bengaluru, Karnataka. It is a 5-day cultural program, organized by Bangalore Agricultural University in collaboration with the Indian Council of Agricultural Research (ICAR). More than 2500 students from 60 State Universities/Central Universities have participated.

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International News

3. Bhutan’s graduation from the UN list of Least Developed Countries

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Recently, at the United Nations Least Developed Countries (LDC) Summit that concluded on March 9 in Doha, Qatar, the landlocked Himalayan kingdom of Bhutan will no longer be on the list of LDCs and will become only the seventh country to graduate from the list. Bhutan was included in the first group of LDCs in 1971. However, over the last few decades, it has made remarkable progress on a variety of socio-economic metrics.

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Appointments News

4. Deepak Mohanty appointed as PFRDA chairman, Mamta Shankar as Whole-Time Member

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The Indian government has appointed Deepak Mohanty as the new chairman of Pension Fund Regulatory and Development Authority (PFRDA), replacing Supratim Bandyopadhyay whose term ended in January. Mohanty, a former executive director of Reserve Bank of India (RBI), previously served as a member of PFRDA.

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5. Viacom18 announces former captain MS Dhoni as their brand ambassador

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Viacom18 has appointed MS Dhoni as its brand ambassador to promote digital sports viewing. Dhoni will collaborate with Viacom18 to encourage fans to watch their favorite sports on digital platforms. He will participate in various network initiatives and feature in JioCinema’s upcoming TATA IPL campaign, along with promoting the brand on his social media accounts.

Important takeaways for all competitive exams: 

  • Viacom18 Headquarters: Mumbai;
  • Viacom18 Founded: November 2007;
  • Viacom18 CEO: Jyoti S. Deshpande.

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6. K Krithivasan Appointed CEO Designate of Tata Consultancy Services (TCS)

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Rajesh Gopinathan, the Managing Director and CEO of Tata Consultancy Services (TCS), has announced his decision to resign from his position in order to pursue other interests. Gopinathan has been with the company for more than two decades. TCS’s board of directors has approved his request to step down and has appointed K Krithivasan as CEO-designate, effective from March 16, 2023.

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Banking News

7. IDFC FIRST Bank Partners with Mumbai Indians as Official Banking Partner

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IDFC FIRST Bank, a private sector bank in India, has become the official banking partner of the Mumbai Indians, a franchise cricket team that competes in the Indian Premier League (IPL). As the official banking partner, IDFC FIRST Bank will provide a range of financial products and services to Mumbai Indians and its players, including banking solutions, credit cards, and digital banking services.

Important takeaways for all competitive exams: 

  • IDFC FIRST Bank Headquarters: Mumbai;
  • IDFC FIRST Bank CEO: V. Vaidyanathan (19 Dec 2018–);
  • IDFC FIRST Bank Parent organization: Infrastructure Development Finance Company;
  • IDFC FIRST Bank Founded: October 2015.

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8. RBI, Central Bank of UAE sign MoU to promote innovation in financial products and services

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The Reserve Bank of India (RBI) on March 15 said that it has signed a Memorandum of Understanding (MoU) with the Central Bank of United Arab Emirates for promoting innovation in financial product and services. Both central banks will collaborate on various emerging areas of FinTech, especially Central Bank Digital Currencies (CBDCs), and explore interoperability between the CBDCs of UAE’s central bank and the RBI.

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9. National Company Law Tribunal (NCLT) approves HDFC and HDFC Bank merger

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On March 17th, the National Company Law Tribunal (NCLT) approved the merger of HDFC Ltd and HDFC Bank, which is considered to be the largest merger in the history of corporate India. The merger will create a massive banking entity by combining India’s largest housing finance company with the country’s largest private lender. Prior to this, HDFC Ltd had already received approval from various regulatory bodies and stock exchanges for the merger. Shares of both companies were trading higher on the BSE during late trading hours.

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10. Canara Bank introduces Rupay Credit Card on UPI

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To leverage the reach of UPI and the strength of credit card products, Canara Bank in collaboration with National Payments Corporation of India (NPCI) launched the Rupay Credit Card through UPI using the BHIM app. This integration allows customers to connect their Rupay Credit Card to UPI and conduct merchant transactions without needing the physical card, resembling UPI’s account-based transactions.

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11. ICICI Bank offers Ecosystem Banking for Indian Startups

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ICICI Bank announced that it offering a comprehensive bouquet of digital and physical solutions to cater to all banking needs of startups across their various life stages. As part of the ‘Startup Ecosystem Banking’ the Bank has put in place a dedicated team for startups that serves them through an extensive network of branches.

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Economy News

12. Microsoft inks licensing deal with cloud gaming provider Boosteroid

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CRISIL expects India’s gross domestic product (GDP) growth to touch 6% in fiscal 2024, compared with 7% estimated by the National Statistics Office (NSO) for fiscal 2023. A complex interplay of geopolitical events, stubbornly high inflation — and sharp rate hikes to counter that — have turned the global environment gloomier.

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13. India’s forex reserves fall $2.40 billion to 3-month low of $560 billion

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According to data from the Reserve Bank of India, the country’s foreign exchange reserves declined by $2.397 billion to $560 billion as of March 10, 2023. This marks a three-month low for India’s foreign exchange reserves after they had increased for the first time in five weeks to $562.40 billion as of March 3. The data shows that India’s foreign currency assets also decreased by approximately $2.2 billion to $494.86 billion. This includes the effect of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves.

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Business News

14. BIS Launches ‘Learning Science via Standards’ Initiative to Benefit Students

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The Bureau of Indian Standards (BIS) has launched the “Learning Science via Standards” initiative to promote science learning among school students. This program aims to improve students’ learning outcomes in science and promote an interest in science education by providing them with access to national and international standards related to science. The initiative is part of BIS’s efforts to improve the quality of education in India and support the government’s efforts to make India a global leader in science and technology. ‘Learning Science via Standards’ initiative for students, which focuses on providing lesson plans related to products used in day-to-day life.

Important takeaways for all competitive exams: 

  • BIS Director General (DG): IAS Pramod Kumar Tiwari;
  • BIS Founded: 23 December 1986;
  • BIS Headquarters: Manak Bhawan, Old Delhi.

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Awards News

15. RBI Governor Shaktikanta Das Named ‘Governor of the Year’ by Central Banking

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Shaktikanta Das, Governor of the Reserve Bank of India, has been honored with the title “Governor of the Year” for 2023 by Central Banking, an international economic research journal. The publication praised Das for his steady leadership during challenging periods, including the collapse of a significant non-banking company, the initial and second waves of the COVID-19 pandemic, and inflationary pressures due to Russia’s invasion of Ukraine.

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Ranks and Reports News

16. Delhi airport adjudged best airport in South Asia: Skytrax

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Skytrax, a UK-based consultancy, awards airports worldwide with the prestigious World Airport Awards based on customer surveys. For the fifth year in a row, Delhi’s Indira Gandhi International Airport (IGIA) has been declared the best airport in the South Asian region. The IGIA is an international airport and has received this recognition due to its excellent facilities and services provided to customers.

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Schemes and Committees News

17. Another government survey debunks Swachh Bharat’s 100% ODF claim

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Despite government efforts to promote sanitation and end open defecation in India, recent surveys have cast doubt on the success of these initiatives. Four government surveys released between 2018 and 2021 have disputed the claim that all Indian villages are open-defecation-free (ODF), revealing poor sanitation levels in many areas.

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18. What is Research, Education and Training Outreach (REACHOUT) scheme?

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The Research, Education and Training Outreach (REACHOUT) scheme is a program launched by the Indian government to promote research, education and training in the country. The Indian Ministry of Earth Sciences has initiated the REACHOUT Scheme to advance research, education, and training in the realm of Earth Sciences. The program aims to encourage collaboration between academic institutions, industry, and government to improve the quality of education and research in India.

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19. Govt aims to strengthen MSME sector with Competitive (LEAN) Scheme

Competitive (LEAN) Scheme to strengthen MSME Sector

To encourage micro, small, and medium-sized enterprises (MSMEs) to adopt particular manufacturing practices, the Indian central government introduced a revamped version of the MSME Competitive (LEAN) Programme. The programme, which was initially launched under the MSME Champions Program, will help Indian MSMEs by boosting their quality, productivity, and performance.

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Important Days

20. World Sleep Day 2023 Observed on March 17th

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World Sleep Day is an annual event observed on the Friday before the Spring Vernal Equinox to raise awareness about the significance of sleep. This year, it falls on March 17, 2023. The day aims to reduce the burden of sleep disorders on society by promoting better prevention and management. The World Sleep Society has announced the theme for this year’s Sleep Day as ‘Sleep is Essential for Health’.

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21. Polio Ravivar 2023: Celebrating National Vaccination Day in India

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In India, National Vaccination Day is held on March 16 each year, also known as “Polio Ravivar,” to raise awareness and promote vaccination against polio. National Vaccination Day is an annual event observed in various countries to promote vaccination and increase public knowledge about its significance. The day is celebrated on different dates in different countries, but the primary goal is to encourage individuals to receive vaccinations as a means of safeguarding themselves against communicable diseases.

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