Current Affairs Daily Digest – February 22 & 23 2024

Current Affairs Daily Digest – February 22 & 23 2024. Read and Download daily, the latest Current Affairs Quiz 2023 for competitive exams like UPSC, SSC, IBPS, SBI etc,. Download month-wise Daily Current affairs 2023 PDF and Current affairs quiz PDF .

Current Affairs Daily Digest – February 22 & 23 2024

1. Former Lok Sabha Speaker Manohar Joshi Passes Away at 86

Manohar Joshi, a former chief minister of Maharashtra and speaker of the Lok Sabha, died at the age of 86, capping off a distinguished political career that lasted for decades in India.

Joshi, a leading Shiv Sena figure, was the first party member to serve as chief minister of Maharashtra (a position he held from 1995 to 1999). During the Vajpayee administration, he demonstrated exceptional leadership and political savvy as speaker of the Lok Sabha from 2002 to 2004.

Background and Formal Education

Early in life, Joshi drew from a mix of cultural heritage and intellectual pursuits; he was born on December 2, 1937, in the coastal Konkan district of Maharashtra.

He began his extensive career in civil engineering after graduating from Mumbai’s Veermata Jijabai Technological Institute (VJTI) with a Bachelor’s degree.

2. IRCTC Teams Up With Swiggy For Pre-Ordered Meal Delivery

Passengers may now easily have their pre-ordered meals delivered through the Indian Railway Catering and Tourism Corporation’s (IRCTC) e-catering portal thanks to a partnership with Swiggy, a prominent Indian food delivery platform. Train passengers will benefit from more options and ease thanks to our partnership.

Future Objectives

Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam are the four main railway stations where Swiggy will launch its services.

After the first phase is finished, IRCTC intends to expand this service to more stations, reaching a wider audience and accommodating more types of travelers.

Integrated E-Catering Services

According to a recent BSE filing by IRCTC, travelers may soon have access to the e-catering service, which is handled by Bundl Technologies Pvt. Ltd. (Swiggy Foods).

This integration is a big deal because it shows how far we’ve come in using technology to improve meal delivery and make customers happier.

3. India Surpasses China as HSBC’s Third-Largest Profit Hub

A tremendous increase in profitability was on display in 2023, when India overtook China to become the third-largest profit hub for HSBC. Profits for India’s fiscal year ending in December 2023 reached a remarkable $1.5 billion, a 25% increase from the previous year. Key insights into India’s remarkable success were revealed in HSBC’s annual report for the fiscal year ended December 2023.

Reasons Behind India’s Excessive Profit Growth

Provisions for Credit Loss Decreased: Better profitability was a contributing factor in the dramatic decline in anticipated credit loss provisions from $90 million in 2022 to $51 million in 2023.

Strong Results in International Finance and Markets: This division’s profit increased significantly by 24% in 2023, from $622 million the year before, to $774 million.

Commercial banks’ pre-tax profit surged 31% to $398 million, a phenomenal increase, as they catered to small and medium-sized enterprises (SMEs).

4. ADB Funds $23 Million for Fintech Advancement in Gujarat

A USD 23 million loan has been approved by the Asian Development Bank (ADB) to support fintech education, research, and innovation within India’s Gujarat International Finance Tec-City (GIFT).

As the leading international financial services center in India, the state-owned firm GIFT plays a pivotal role in fostering the country’s fintech ecosystems and financial services.

Building a comprehensive, sustainable, and climate-resilient International Fintech Institute (IFI) within GIFT is the development objective.

Notable Qualities: Working in tandem with world-class educational institutions, we create fintech degree programs that meet or exceed all applicable industry and regulatory requirements.

5. Madhya Pradesh Introduces ‘Bag-less School’ Initiative

The administration of Madhya Pradesh has unveiled a historic plan to transform the state’s educational system: a “bag-less school” policy.

The government’s dedication to student welfare and overall development is highlighted by this policy, which is intended to be implemented once a week beginning with the forthcoming academic session of 2024-25. It represents a notable divergence from traditional educational practices.

Getting a Feel for the Weight Capacity

The state government published a notification outlining the specific weight limitations that children’s school bags must meet as part of this campaign.

Class by class, the weight limitations range from 1.6 to 2.2 kg for first and second grade, and 2.5 to 4.5 kg for ninth and tenth grade. The government’s effort to alleviate the physical strain that heavy school backpacks can cause on young learners is highlighted by this careful classification, which demonstrates a sophisticated knowledge of the problem.

6. Ashish Vijayakar Appointed as MD & CEO of SBM Bank India

Ashish Vijayakar has been named MD & CEO of SBM Bank India, a branch of the State Bank of Mauritius, according to the bank’s announcement.

In a letter dated February 6, 2024, the Reserve Bank of India (RBI) authorized the appointment, which will take effect on February 17, 2024.

Proficiency and Background

Business transformation, risk management, innovation, and adapting to changing business environments are some of Ashish Vijayakar’s strong suits, which he brings to his new position.

With his wide range of skills and wealth of experience, he is an ideal candidate to guide SBM Bank India into its future expansion.

7. New Chairmen Appointed for BOI, IOB, and UCO Bank

Notable appointments for the chairmanships of numerous big Indian banks have been announced by the Appointments Committee of the Cabinet (ACC).

The Bank of India (BOI) has named M R Kumar, a former chairman of the LIC, to the positions of non-executive chairman and part-time non-official director. For the next three years, Mr. Kumar will be at the head of BOI, bringing with him a plethora of experience.

Selection of Srinivasan Sridhar to Serve as Chairman of the IOB

Indian Overseas Bank (IOB) has appointed Srinivasan Sridhar to the positions of non-executive chairman of the board and part-time non-official director, which is an additional notable appointment.

If Mr. Sridhar resigns from his position on the Bank of Baroda’s board, his appointment will be effective for three years. The government’s dedication to improving the operational efficiency and leadership of IOB is demonstrated by this appointment.

Aravamudan Krishna Kumar has been appointed as the chairman of UCO Bank.

In addition, Aravamudan Krishna Kumar is now serving on the UCO Bank Board of Directors as a non-executive Chairman and part-time non-official Director.

In keeping with his previous appointments to BOI and IOB, Mr. Kumar will serve for three years on the Suraksha Asset Reconstruction Limited board until he resigns. His nomination shows that the government is serious about strengthening UCO Bank’s leadership and continuing its growth trajectory.

8. Cybercrime Report: India Ranks 80th Worldwide

When looking at nations attacked by cybercrime in 2023, India came in at number 80. About 34% of users were impacted by local threats, leading to 74,385,324 instances that Kaspersky products were able to stop.

Enterprises face a huge challenge from the surge in sophisticated external cyber threats, even though the country’s cybersecurity market reached USD 6.06 billion in 2023, according to IDC.

In 2023, India ranked 80th internationally for local threat targeting, according to the Local Threats Analysis.

Relevance: More than 74 million incidents were blocked as a result of local risks, which affected nearly 34% of Indian users.

Nature of Threats: This category encompasses malicious software that is either already installed on consumers’ devices or portable media, or that was initially concealed within intricate installers or encrypted files.

The majority of Indian businesses (about 67%) want to use managed security service providers to handle critical parts of their security infrastructure during the next three years.

Reasoning: Cybersecurity measures must be continuously improved to secure assets and retain stakeholder trust in light of the growth in sophisticated cyber threats, the deployment of AI, and digital payments.

9. A New book titled “Sculpted Stones: Mysteries of Mamallapuram” Authored by Ashwin Prabhu

“Sculpted Stones: Mysteries of Mamallapuram” is a new book that shines a light on the historic town of Mamallapuram and its intricate history and artistic heritage.

This fascinating investigation, written by Ashwin Prabhu and published by Tulika Books, takes readers on a journey into the mysterious realm of ancient sculpture.

“Sculpted Stones” provides a glimpse into the rich cultural history and architectural wonders of Mamallapuram, which have endured the test of time, and acts as a gateway to the city’s glorious past.

Iconic landmarks dot the landscape of this historic town, and the book unravels the tales behind them through compelling narration and rigorous research.


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