DAILY CURRENT AFFAIRS

By admin: March 15, 2023

DRDO successfully flight tests indigenous power take off shaft on LCA Tejas in Bengaluru

Tags: Defence Science and Technology

A successful flight-test of power take off (PTO) shaft was conducted by Defence Research and Development Organisation (DRDO) on the Light Combat Aircraft Tejas in Bengaluru on 14 March.

An overview of the news

• First successful flight test of PTO shaft on LCA Tejas Limited Series Production (LSP)-3 aircraft.

• The PTO shaft has been indigenously designed and developed by the Combat Vehicles Research & Development Establishment (CVRDE), Chennai of the Defense Research and Development Organization (DRDO).

• The PTO is an important device that transmits power from the aircraft engine to the gearbox.

• With this successful test, DRDO has achieved a major technological achievement with the realization of complex high-speed rotor technology that only a few countries have achieved.

Light Combat Aircraft (LCA) programme

• It was started by the center in 1984.

• It replaced the Mig 21 fighter planes.

• It was Designed by Aeronautical Development Agency under the Department of Defence Research and Development.

• It was Manufactured by State-owned Hindustan Aeronautics Limited (HAL).

• It features as the lightest, smallest and tailless multi-role supersonic fighter aircraft in its class.

About Light Combat Aircraft Tejas

• It is a single-engine multirole light combat aircraft.

• It was designed and developed by India’s HAL (Hindustan Aeronautics Limited).

• It replaced the ageing Mig 21 fighter planes.

• It is the lightest and smallest multi-role supersonic fighter aircraft in its class.

• It is designed to be air-to-air, air-to-surface, precision guided and weapon-carrying.

Variants of Tejas

• LCA Tejas Navy MK2

• LCA Tejas Mk-1A

• LCA Navy

Atal Innovation Mission launches ATL Sarthi to strengthen ecosystem of Atal Tinkering Labs

Tags: National National News

Atal Innovation Mission - NITI Aayog on 14 March launched 'ATL Sarthi', a comprehensive self-monitoring framework to strengthen the ecosystem of Atal Tinkering Labs (ATL). 

An overview of the news

• Atal Innovation Mission is setting up Atal Tinkering Labs in schools across the country to foster curiosity, creativity and imagination in young minds.

• Atal Tinkering Labs Sarathi will act as a charioteer and enable Atal Tinkering Labs to be efficient and effective.

• ATL Sarthi will provide a monitoring and evaluation framework to enhance the performance of Atal Tinkering Labs.

Atal Innovation Mission (AIM)

• This is an important initiative taken by the Government of India to promote the culture of innovation and entrepreneurship in the country.

Objective of AIM

• Developing new programs and policies to promote innovation in various sectors of the economy.

• Providing forums and opportunities for collaboration for various stakeholders.

• To create an umbrella structure to create awareness and monitor the innovation ecosystem of the country.

• Mission Director AIM - Dr Chintan Vaishnav

Atal Tinkering Labs

• The Atal Innovation Mission has set up Atal Tinkering Laboratories (ATL) in schools across India.

• The scheme aims to foster curiosity, creativity and imagination in young minds.

• It develops skills like design mindset, computational thinking, adaptive learning, physical computing etc.

Union Minister Anurag Thakur inaugurates 16th meeting of SCO Youth Council

Tags: Summits National News

The 16th meeting of the Shanghai Cooperation Organisation (SCO) Youth Council was held in hybrid mode in New Delhi on 14 March, under the chairship of India. 

An overview of the news

• Youth Affairs and Sports Minister Anurag Singh Thakur inaugurated the meeting of the SCO Youth Council.

• The meeting was chaired by Nitesh Kumar Mishra, Joint Secretary, Department of Youth Affairs, Government of India.

• In the meeting, SCO member states shared information on the activities of the SCO Youth Council in 2022-2023.

• The report of the SCO Youth Conference held on March 13, 2023 in virtual mode on the theme "Effective Community Development Activities" was delivered to all SCO member states.

• The Protocol was signed on March 14, 2023 in New Delhi in eight copies in the Russian and Chinese languages.

Shanghai Cooperation Organization (SCO) 

• It is a permanent intergovernmental international organization.

• It was founded in 2001.

• The SCO Charter was signed in 2002, and came into force in 2003.

• It is a Eurasian political, economic and military organization.

• Its aim is to maintain peace, security and stability in the region.

• China, Russia and four Central Asian states – Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan – were founding members of the SCO.

• Its members include China, Russia, India and Pakistan, as well as 4 Central Asian countries - Kazakhstan, Kyrgyzstan, Uzbekistan and Tajikistan.

• Official Languages - Russian and Chinese

• Chairmanship - On the basis of rotation for a year by Member States

India to showcase organic farming of Sikkim at B20 conference in Gangtok

Tags: Summits State News

The vibrant organic farming of Sikkim will be prominently showcased to the world through the 3rd B20 Summit to be held in Gangtok, Sikkim from 15 to 17 March 2023.

An overview of the news

• The Department for Promotion of Industry and Internal Trade (DPIIT) is organizing four B20 conferences in the North Eastern Region to showcase the untapped potential and opportunities within the region.

• Out of which two conferences have already been held in Imphal and Aizawl.

• The third and fourth conferences are to be held in Gangtok and Kohima respectively.

• The hosting of the B20 summit in Sikkim is important to showcase the vibrant organic farming of the state to the world.

• In addition, the B20 event to be held in Gangtok will throw light on organic farming.

G20 Tracks

• G20 has two Tracks- Sherpa Track and Finance Track. 

• Sherpa Track has 13 working groups and 11 engagement groups.

• DPIIT is the nodal ministry for two working groups namely Startup 20 and Business 20 (B20).

• Working groups consist of non-governmental participants from each G20 member who provide recommendations to G20 leaders and contribute to the policy-making process.

Business 20 (B20)

• It was formed in 2010 and is the official G20 dialogue platform with the global business community.

• The B20 aims to provide concrete actionable policy recommendations on each Presidency's priorities to drive economic growth and development.

• The B20 has scheduled a total of 100 meetings, including 65 in-person meetings and 35 hybrid meetings.

• B20 summit to be held in New Delhi from 26 -27 August 2023.

The Startup 20

• Startup 20 has been established under the G20 Presidency of India.

• It aims to act as a dialogue platform with stakeholders of the global startup ecosystem.

• It aims to represent the global startup ecosystem with G20 leaders to raise macroeconomic concerns and challenges faced by entrepreneurs.

• A total of 60 meetings of the Start-up 20 Engagement Group will be held, of which 5 are in-person meetings.

• The upcoming event is Startup 20 Gangtok, Sikkim on 18-19 March 2023.

• The Startup 20 Summit will be held in Gurugram from 2 -4 July 2023.

Second G20 Sustainable Financial Working Group (SFWG) meeting to be held in Udaipur

Tags: Summits National News

The Second G20 Sustainable Financial Working Group (SFWG) meeting will be held at Udaipur in Rajasthan from 21 to 23 March.

An overview of the news

• The purpose of the meeting is to mobilize sustainable finance to help ensure global growth and stability.

• Around 150 delegates from G20 member states, guest countries and various international organizations will participate in the meeting.

• Cultural programs and sightseeing tours will also be organized for the guests during the event.

• The G20 focuses on promoting international economic cooperation and addressing key economic challenges faced by its member states, including issues related to finance, trade, and global economic development.

• The first meeting of the Sustainable Finance Working Group under G20 was organised in Guwahati on 3 February 2023.

Second Education Working Group meeting of G20 countries begin in Amritsar

Tags: Summits National News

The Ministry of Education is hosting the second Education Working Group meeting on March 15 in Amritsar, Punjab.

An overview of the news

• 28 G20 member countries, guest countries and invited organizations (OECD, UNESCO and UNICEF) are participating in the three-day event, which includes seminars, exhibitions and working group meetings.

• A seminar on 'Strengthening research and promoting innovation through rich collaborations' will be organized by IIT Ropar in collaboration with IISc Bengaluru, IIM Amritsar and TISS Mumbai at Khalsa College.

• The seminar will begin with a presentation by IISc Bengaluru on 'Research Initiatives in G20 Countries'.

• The first meeting of G20 Education Working Group (G20 EWG) 2023 was held in Chennai on 1st and 2nd February. 

Deliberation on the four priority areas

• Ensuring Foundational Literacy and Numeracy especially in the context of blended learning.

• Making Tech-enabled learning more inclusive, qualitative and collaborative at every level.

• Building Capacities, promoting Life-long Learning in the context of Future of Work.

• Strengthening Research, promoting Innovation through richer collaboration and partnerships.

Tim Mayopoulos has been appointed CEO of Silicon Valley Bank by the FDIC

Tags: Person in news International News

Tim Mayopoulos, the former CEO of Fannie Mae, has been selected by the Federal Deposit Insurance Corporation (FDIC) as the CEO of Silicon Valley Bank, a subsidiary of the defunct SVB Financial Group.

News Overview

• Prior to joining StartupBlend, Mayopoulos was CEO of mortgage financier Fannie Mae for more than six years.

About Silicon Valley Bank

• Establishment - 1983

• Founder -Roger V Smith

• President - Gregory W. Baker

• Headquarters - Santa Clara, California (United States)

About the Federal Deposit Insurance Corporation (FDIC)

• Formed -1933

• Jurisdiction - United States federal government

• Founder - Franklin D. Roosevelt

• Headquarters - Washington, D.C. (United States)

Sports Minister Anurag Singh Thakur inaugurated IBA Women's World Boxing Championships

Tags: Sports Sports News

The IBA Women's World Boxing Championships began on 15 March in New Delhi.

An overview of the news

• Union Youth Affairs and Sports Minister Anurag Singh Thakur inaugurated it at the Indira Gandhi Sports Complex.

• International Boxing Association (IBA) President Umar Kremlev, and Boxing Federation of India (BFI) President Ajay Singh were present on the occasion. 

• BFI is hosting the biggest boxing event till the 26th of March. 

• The Championship is taking placein India for the third time after 2006 and 2018, the most for any country. 

• The tournament will witness the participation of more than 350 boxers from around 74 countries.

• The Indian team of 12 boxers for the event includes 2020 Tokyo Bronze medallist, Lovlina Borgohain and the current world champion in the 50kg category,Nikhat Zareen.

IBA World Boxing Championships

• The IBA World Boxing Championships, and the IBA Women's World Boxing Championships, are biennial boxing competitions.

• This is organised by the International Boxing Association (IBA), which is the sport governing body.

Center constitutes a committee of secretaries to expedite infrastructure projects along northern border areas

Tags: committee

Defense Minister Rajnath Singh chaired a high-level meeting in New Delhi on 14 March to review the progress of infrastructure projects in the northern border areas.

News Overview

• During the meeting, Singh stressed on the need for early completion of all pending projects on top priority and taking a pan-India approach in matters of national security.

• The government has decided to set up a committee of secretaries that will meet frequently to fast-track pending projects in the northern border areas.

• Other ministers and officials who attended the meeting included Road Transport and Highways Minister Nitin Gadkari, Railway Minister Ashwini Vaishnav, Energy MinisterRK Singh, Environment Minister Bhupendra Yadav, National Security Advisor Ajit Doval and the Chief Ministers of Arunachal Pradesh and Uttarakhand and the states of Ladakh. The governor and the lieutenant governor were also involved.

World Consumer Rights Day - 15 March

Tags: Important Days

World Consumer Rights Day is an annual celebration that is celebrated on 15 March.

News Overview

• The day aims to raise awareness of consumer rights and needs globally.

• "Empowering Consumers Through Clean Energy Transitions" is the theme for World Consumer Rights Day 2023.

• This theme focuses on the importance of the clean energy transition in empowering consumers to make informed decisions about their energy consumption and its impact on the environment.

• President John F. Kennedy played an important role in the history of World Consumer Rights Day.

• He sent a special message to the US Congress on March 15, 1962, where he officially addressed the issue of consumer rights.

• Additional Secretary of Consumer Affairs Department - Mrs. Nidhi Khare

About Ministry of Consumer Affairs, Food and Public Distribution

• Establishment - 2 September 1946

• Department - Department of Food and Public Distribution, Department of Consumer Affairs

• Headquarter - New Delhi

• Jurisdiction - India

India world's largest arms importer: SIPRI report 2023

Tags: Reports International News

According to the Stockholm International Peace Research Institute's (SIPRI) 2023 report, India will become the world's leading arms importer in 2022.

News Overview

• According to this report, between the years 2013-17 and 2018-22, India's arms imports have decreased by 11 percent.

• According to the report's findings, over the past five years, the US had the world's largest military expenditure, accounting for 40% of the global share, followed by Russia (16%), and France (11%).

About SIPRI

• The Stockholm International Peace Research Institute (SIPRI) is a global non-profit research institute.

• SIPRI focuses on resolving conflicts, controlling arms and promoting disarmament.

• The institute provides data, analysis and advice regarding armed conflicts, military expenditure and the arms trade.

• Establishment - 6 May 1966

• Founders - Tage Erlander, Alva Myrdal

• Chairman - Stefan Lofven

• Director - Dan Smith

• Headquarter - Solna

Denmark becomes the first country in the world to import CO2 and store it under the sea

Tags: International News

Denmark has launched a project to store carbon dioxide 1,800 metres below the North Sea, making it the first country in the world to bury CO2 imported from another country.

News Overview

• CO2 burial project, where carbon is injected into the site of an old oil field to prevent further warming of the atmosphere.

• The project is called "Greensand" and is being led by British chemical Giant Ineos and German oil company Wintershall Dia.

• The project aims to store eight million tonnes of CO2 per year by 2030.

• The North Sea was chosen for the project because it already has pipelines and potential storage sites due to decades of oil and gas production.

• According to the European Environment Agency (EEA), EU member states released 3.7 billion tonnes of greenhouse gases in 2020 alone.

About Denmark

• Capital - Copenhagen

• Prime Minister - Mette Frederiksen

• Official name - Kingdom of Denmark

• Official language - Danish

• Currency - Krone

• Form of Government - constitutional monarchy