Daily Current Affairs 24th February 2023

Current Affairs 24th February 2023 are incorporated with the important news that made the current affairs headlines for banking 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 GK update for 24th February 2023 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz. 

Here is the Current Affairs 24th February 2023 covering the following news headlines: 22nd Law Commission, Russia to leave Ukraine, World Bank, Churchgate Railway Station, Social Stock Exchange.

Top 19 Daily Current Affairs: National & International News:

Here is providing below the top 19 important Daily General Knowledge 2022 updates with national & international news.

                                           National News

1. Term of the 22nd Law Commission extended till August, 2024

• The Union cabinet, chaired by Prime Minister Narendra Modi, on February 22 extended the term of the 22nd Law Commission till August 31, 2024.
• The move came as the tenure of the 22nd Law Commission of India ended on February 20, 2023.
• Former chief justice of the Karnataka High Court Ritu Raj Awasthi is the chairperson of the current commission, and its members include KT Sankaran, a retired judge of the Kerala High Court.
• The Law Commission of India is a non-statutory body constituted by the Government of India from time to time.
• The first Law Commission of independent India was established in 1955 for a three-year term.
• The first Law Commission was established during the British Raj era in 1834 by the Charter Act of 1833 and was chaired by Lord Macaulay.

                                           International News

2. UN approves resolution calling for Russia to leave Ukraine after 1 year

• The UN General Assembly approved a nonbinding resolution that calls for Russia to end hostilities in Ukraine and demands the withdrawal of its forces, sending a strong message on the eve of the first anniversary of the invasion that Moscow’s aggression must end.
• The 141-7 vote with 32 abstentions was slightly below the highest vote for the five previous resolutions approved by the 193-member world body since Russia sent troops and tanks across the border into its smaller neighbor on Feb. 24, 2022.

3. Ex-Mastercard CEO Ajay Banga Nominated By US President To Lead World Bank

• From Washington, US President Joe Biden is nominating former Mastercard Chief Executive Ajay Banga to lead the World Bank, after its current chief David Malpass announced plans to step down early.
• Banga’s nomination comes amid a push for development lenders to revamp and address global problems like environmental issues more effectively.
• The development lender has just started accepting candidate nominations in a process set to run until March 29, with the bank saying that women candidates would be “strongly” encouraged.
• The president of the World Bank is typically American, while the leader of the International Monetary Fund is customarily European.

                                                 States News

4. Churchgate Railway Station in Mumbai will now be known as First Indian RBI Governor CD Deshmukh

• The Churchgate railway station in Mumbai will soon be called as ‘Chintamanrao Deshmukh station’, named after the first governor of the Reserve Bank of India (RBI) CD Deshmukh.
• The first national executive meeting of Eknath Shinde-led Shiv Sena faction, which was declared the original Shiv Sena by the Election Commission last week.
• The meeting passed a resolution to rename the Churchgate railway station after the former RBI governor and Union Finance Minister CD Deshmukh.

                                               Defence News

5. CRPF to Hold Annual Raising Day in Chhattisgarh’s Bastar District

• The Central Reserve Police Force (CRPF) will hold its Raising Day function in the Bastar district of Chhattisgarh for the first time, a place that has been a hotbed of left-wing extremism.
• The preparation for the celebration on March 19 will start in a few days.
• They are preparing the infrastructure. It will be held in Jagdalpur in a place called Karanpur — the headquarter of the 204 and 201 COBRA battalion.
• The parade will happen there. It is about 15 km from Jagdalpur airport.
• The CRPF, which is the largest paramilitary force in the country, celebrated its 83rd CRPF Day in Jammu last year.

                                           Economy News

6. NSE gets the final SEBI approval to launch Social Stock Exchange

• The NSE has got the greenlight from the capital markets regulator to launch its Social Stock Exchange, the board said.
• The Securities and Exchange Board of India (Sebi) had given an in-principle approval to National Stock Exchange (NSE) for setting up the exchange last December.
• A framework for the Social Stock Exchange was provided by a working group constituted by the Sebi. Enterprises will have to be engaged in 16 broad areas of social activity prescribed by the working group to qualify for listing on the exchange.
• Corporate foundations, trade associations, political and religious organisations, infrastructure companies are not eligible to list on social stock exchange.

                                          Business

7. Amazon will join the ONDC network in India

• E-commerce giant Amazon announced that it will join the Indian government’s ONDC (Open Network for Digital Commerce) platform, and as part of its initial collaboration will integrate its Smart Commerce and logistics services with the ONDC network.
• Amazon logistics services include pickup and delivery, while Smart Commerce is a suite of SaaS (software-as-a-service) products hosted on AWS that can assist MSMEs build and scale their business and integrate it with the ONDC network.
• Amazon said it will continue to explore potential opportunities for a stronger integration with the ONDC network.
• ONDC is a non-profit organization set up by the commerce ministry’s Department for Promotion of Industry and Internal Trade (DPIIT) to democratise e-commerce services and provide small e-commerce stores and online sellers with a level playing field.

                                           Banking News

8. Karnataka Bank Inked Co-lending pact with Paisalo Digital

• Karnataka Bank and Paisalo Digital Ltd, a non-deposit-taking NBFC registered with the Reserve Bank of India, have entered into a co-lending arrangement to provide financial support to the small income segment and to give impetus to the micro and small enterprise segment of the country.
• The arrangement will leverage Karnataka Bank’s low cost of funds and its end-to-end digital capabilities and Paisalo to help the sourcing, servicing, and recovery of small-ticket priority sector loans.
• Mahabaleshwara MS, Managing Director, and Chief Executive Officer of the bank informed that the Co-lending model is one of the innovative avenues of lending to the priority sector.
• This tie-up shall create a dynamic synergy between the two sets of lenders — Paisalo Digital Ltd and Karnataka Bank.

9. Saraswat Bank partners Tagit to deploy omnichannel banking

• Saraswat Bank has partnered with Singapore based digital banking solutions provider Tagit to implement omnichannel digital banking solutions for its retail and corporate customers.
• Under the association, the bank will use Tagit’s Mobeix Digital Banking platform to enhance customer experience.
• The Mobeix Digital Banking platform will accelerate the Bank’s ability to launch new digital services allowing the Bank to constantly innovate and scale as its customer base grows.
• The new digital offerings will accelerate adoption of the usage of digital channels by the Bank’s customers, thus enabling the Bank to compete and grow in the market.

10. HDFC Bank, Lulu Exchange ink deal to enhance cross-border payments between India-Gulf region

• HDFC Bank and UAE-based financial services company Lulu Exchange, have partnered to strengthen cross-border payments between India and Gulf Cooperation Council (GCC) region.
• Both sides have signed a memorandum of understanding (MoU) to enable remittances to India through HDFC’s online and mobile banking powered by LuLu Exchange.
• In a press release, the bank said they will launch the ‘RemitNow2India’ service for quick money transfer from UAE.
• In the first phase, the bank said, the partnership will draw on the Lulu Exchange’s expertise and regulatory framework to launch the ‘RemitNow2India’, a digital inward remittance service, which will allow individuals in the UAE to send money to any bank account in India via IMPS and NEFT through HDFC Bank’s digital banking channels.

                                       Important Days

11. Central Excise Day 2023 observed on 24th February

• Every year on February 24, Central Excise Day is observed to recognise and honour the contributions made by the Central Board of Indirect Taxes and Customs (CBIC).
• Every year, Central Excise Day is observed to raise public awareness of the dedication and labor-intensiveness of CBIC. The primary responsibility of CBIC is to prevent the tampering of manufactured items.
• The agency hosts a number of programmes and events on Central Excise Day to raise public awareness of the value of paying taxes and abiding by customs procedures.
• On this day, CBIC also launches brand-new campaigns with a variety of topics across its offices all over India to raise awareness of the rules governing Central Excise and Customs.

                                           Schemes News

12. Govt revises norms for Members of Parliament Local Area Development Scheme 2023

• The Minister of State for Statistics and Programme Implementation, Rao Inderjit Singh, launched the revised norms for MPLADS (Members of Parliament Local Area Development Scheme).
• He also launched a new Web Portal for the Revised Fund Flow Procedure under MPLADS.
• The new MPLADs guidelines and the web portal will come into effect from April 1, 2023, the Ministry of Statistics & Programme Implementation (MoSPI) said.
• The revised set of guidelines aims to broaden the scope of the scheme so as to enable the parliamentarians to recommend developmental works as per the changing needs of the community with an emphasis on improving the functioning, implementation and monitoring of the MPLAD scheme.

                                    Science and Technology News

13. Instagram Founders Open Artifact News App to Everyone

• Artifact, a new artificial intelligence (AI)-powered personalized news feed application by Instagram co-founders Kevin Systrom and Mike Krieger, is available to everyone, along with new features.
• Now, anyone can download and use the new application and no waitlist or phone number is required. The application is available for both iOS and Android users.
• With the new version of the application, users can connect their contacts and see articles that are popular in their network.
• By connecting the contacts, people will start seeing articles with a special badge when they’ve been read by at least several of their contact.
• Moreover, the company also added another tool to help users visualize reading history.

                                             Awards News

14. JSW chairman Sajjan Jindal bags ‘Entrepreneur of the Year 2022’ title

• Sajjan Jindal, the chairman and managing director of JSW Group, was  awarded as the EY Entrepreneur of the Year (EOY) 2022.
• The seven-member jury led by former ICICI Bank chairman K V Kamath selected Jindal as the EOY 2022 winner for his “exceptional entrepreneurial journey in scaling the global conglomerate with presence in steel, cement, infrastructure, energy, and paints to revenues of US$22 billion.
• Jindal has created a track record of executing large capital-intensive, technically complex, and state-of-the-art steel manufacturing facilities on principles of cost efficiency and operational excellence.

15. Prez Droupadi Murmu Conferred Sangeet Natak Akademi Fellowships and Awards

• The President of India Droupadi Murmu presented the Sangeet Natak Akademi’s Fellowships (Akademi Ratna) and Sangeet Natak Akademi Awards (Akademi Puruskar) for the years 2019, 2020, and 2021 in New Delhi on 23^rd February 2023.
• G. Kishan Reddy, Minister of Culture, Tourism and DoNER, Arjun Ram Meghwal, Minister of State for Parliamentary Affairs & Culture, Dr. Sandhya Purecha, Chairman, Sangeet Natak Akademi, Uma Nadnuri, Joint Secretary, Ministry of Culture was also present at the awards ceremony.

                                             Sports News   

16. Rudrankksh Patil Won gold in 10m Air Rifle at ISSF World Cup 2023

• India’s Rudrankksh Balasaheb Patil won the men’s 10m air rifle event at the ISSF World Cup 2023 in Cairo. He defeated Germany’s Maximilian Ullbrich by 16-8 in the gold medal match to clinch the top prize.
• Rudrankksh Patil finished seventh in the qualification round with 629.3 points to make the ranking round, which he topped with 262.0 points to set up a final clash against Ulbrich.
• Croatia’s Miran Maricic, who topped qualification, won the bronze medal. Divyansh Singh Panwar and Hriday Hazarika narrowly missed out on the cut for the ranking rounds and finished 11th and 12th, respectively.

17. Spain’s Sergio Ramos announced international football retirement

• Paris Saint-Germain’s and former Real Madrid defender Sergio Ramos has announced that he is retiring from international football. After a record 180 appearances for Spain.
• Ramos, who was part of Spain’s World Cup and Euro winning teams had represented Real Madrid in La Liga and now plays for PSG in Ligue 1.
• Ramos made his Spain debut in 2005 while still a teenager playing for Sevilla.

18. Carlos Alcaraz won Argentina Open title 2023

• Top-seeded Spanish player, Carlos Alcaraz won his first title since his milestone U.S. Open triumph by beating Cameron Norrie in straight sets at the Argentina Open tennis Tournament.
• It was Alcaraz’s first ATP tournament since November 2022 after he missed the Australian Open due to abdominal and hamstring injuries.
• Alcaraz also won his seventh ATP title and his first since winning the US Open 2022 by beating Cameron Norrie in the final. Alcaraz is the first Spanish player to win the title in Buenos Aires since Rafael Nadal in 2015.

19. Classical dance legend Kanak Rele passes away

• Classical dance legend Kanak Rele passed away at the age of 85. The Mohiniyattam exponent, who was awarded the first Guru Gopinath National Puraskaram of the Government of Kerala.
• Kanak Rele was the founding director of the Nalanda Dance Research Institute, Mumbai and the founding principal of the Nalanda Dance Kala Mahavidyalaya. She played a major role in popularizing Mohiniyattam and making it globally prominent.

Important Current Affairs of 24th February 2023