Current Affairs – March 02 2023
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Current Affairs – March 02 2023
1. Exercise Desert Flag VIII
Exercise Desert Flag VIII is set to be organized from February 27 to March 17 this year. It is a multilateral air exercise involving the participation of UAE, France, Kuwait, Australia, the UK, Bahrain, Morocco, Spain, the Republic of Korea, and the US.
- It aims to bring about the interoperability of different fighter engagements and sharing of best practices of various Air Forces. UAE is hosting the exercise.
- The India Air Force Contingent, which is taking part in this exercise, includes 110 Air Warriors along with 5 LCA Tejas and two C-17 Globemaster III aircraft.
- This is the first time that LCA Tejas aircraft is included in an international flying exercise outside India. The Indian contingent recently arrived at the Al Dhafra airbase in UAE.
2. Axis Bank Supersedes Citibank India’s Retail Business, Deal of Rs 11,603 Crores
Axis Bank Limited, also known as UTI Bank announces the acquisition of business undertakings of Citibank India. The deal of Axis Bank taking over the Retail Business concluded after finalising an amount of Rs 11,603 crores on March 01, 2023 (Wednesday). However, the sale excludes Citibank’s institutional client businesses in India.
Axis Bank, the third-largest private sector bank declared that the decision to acquire was first made in March last year. It will not necessitate any new capital requirements and stressed that the attrition rate of customers was much more than expected.
The Managing Director and Chief Executive of Axis Bank, Amitabh Chaudhary told that as many as 2.4 million Citi customers in the country agreed with Axis Bank after the deal as against 3 million at the time of announcing the deal.
3. Reliance Jio second-strongest telecom brand in world, says report
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.
It is the third strongest brand globally and earns an elite AAA+ brand rating. It recently announced its new Fixed Wireless Access 5G service for business customers which is a continuation of its pioneering work in the European 5G market.
4. India approves purchase of 70 HTT-40 basic trainer aircraft
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.
5. HDFC Bank, IRCTC launch India’s most rewarding co-branded travel credit card
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.
Indian Railways is one of the biggest public sector enterprises in the country and we are delighted to be the first private sector bank to partner with IRCTC to enhance customer experience for train travellers, right from the time of booking their tickets.”
6. Bola Tinubu elected as the new President of Nigeria
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.
7. India Wins GSMA Government Leadership Award 2023
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.