Current Affairs 13th February

National Affairs

1. Yard 125 (Lsam 15), the first ACTCM barge, was launched at M/S Suryadipta Projects Pvt. Ltd. in Thane.

Capt. Prashant Saxena, AWPS (Mbi), launched the first Ammunition Cum Torpedo Cum Missile (ACTCM) Barge, Yard 125 (LSAM 15), on February 10, 2023, at M/s. Suryadipta Projects Pvt. Ltd. in Thane (Maharashtra).

 

All of the major and auxiliary systems and equipment on this barge came from an indigenous manufacturer. This supports the Ministry of Defense’s “Make in India” initiative.

Barge’s service life is 30 years.

 

Key Points:

 

M/s. Suryadipta Projects Pvt. Ltd., Thane, an MSME (Micro, Small, and Medium Enterprise), was responsible for the construction of the barge.

 

Indian Navy (IN) operational commitments will be accelerated by ACTCM Barges, which will make it easier for IN Ships to transport, embark, and disembark articles and ammunition alongside jetties and in outer harbours.

 

Background:

 

In 2021, IN entered into a contract with Suryadipta Projects for the construction of 11 ACTCM barges.

International Affairs

1. In the ICAO’s Aviation Safety Oversight Ranking, India rises to 55th place: DGCA

India’s position has improved in the Aviation Safety Oversight Ranking of the International Civil Aviation Organization (ICAO), according to the Directorate General of Civil Aviation (DGCA), as India’s aviation security monitoring ranking has increased to 55th from 112th.

 

The Coordinated Validation Mission (ICVM) was launched in India from November 9 to November 16, 2022, as part of the Universal Safety Oversight Audit Program (USOAP)’s continuous monitoring strategy.

 

Key Points:

 

This ranking is subject to change and is determined by the outcomes of various ICAO audits.

 

The ICAO is able to continuously monitor the safety responsibilities of its 187 member states thanks to USOAP.

 

The USOAP is based on a set of protocol questions (PQs) that measure eight critical elements (CE) of a safety oversight system.

 

The audit’s eight CE include the Civil Aviation Organization (ORG), Personnel Licensing and Training (PEL), Aircraft Operations (OPS), Airworthiness of Aircraft (AIR), Aircraft Accident and Incident Investigation (AIG), Air Navigation Services (ANS), Aerodromes and Ground Aids (AGA), and Primary Aviation Legislation and Civil Aviation Regulations (LEG).

 

The progress made in addressing 137 Protocol Questions (PQs) was reviewed by the ICAO team. Of these, 101 PQs are now satisfactory, 1 PQ is no longer applicable, and 35 PQs remain unsatisfactory.

 

As a result, the updated Effective Implementation (EI) score was 85.65 per cent.

Banking and Finance

1. The HDFC S&P BSE 500 ETF, HDFC NIFTY Midcap 150 ETF, and HDFC NIFTY Smallcap 250 ETF are launched by the HDFC Mutual Fund.

The investment manager for the HDFC Mutual Fund (HDFC MF), HDFC Asset Management Company Limited (AMC), introduced three open-ended exchange-traded funds (ETF) schemes: The HDFC S&P BSE 500 ETF, the HDFC NIFTY Midcap 150 ETF, and the HDFC NIFTY Smallcap 250 ETF, respectively, replicate the S&P BSE 500 Index.

 

Beginning on January 30, 2023, the captioned new fund offer (NFO) will end on February 13, 2023.

 

Abhishek Mor, Nirman Morakhia, and Arun Agarwal will oversee the scheme.

 

Scheme’s objective:

 

To provide long-term returns that are proportional to the underlying index’s performance (before fees and expenses), subject to tracking error. 

 

Key Points:

 

With the launch of these plans, investors will be able to participate in the India growth story in a variety of ways and the HDFC Mutual Fund Index Solutions suite will grow. For investment in these schemes, the initial application fee is Rs 500, and subsequent fees are multiplied by one rupee.

 

It will have lower volatility than the vast majority of its underlying constituents, but it will provide diversified exposure to large, mid, and small-cap segments.

2. In honour of India’s presidency, Paytm launches a QR code with the G20 theme.

One97 Communications Limited, the owner of Paytm, launched a G20-themed QR code on February 10, 2023, to commemorate India’s Presidency of the Intergovernmental Forum and its leadership in mobile payments.

 

The QR Code was unveiled by Union Minister for Railways and Information Technology Ashwini Vaishnaw at the India Habitat Centre in New Delhi, Delhi, during the “Digital Payments Utsav.”

 

The “DigiDhan Mission” logo from MeitY (Ministry of Electronics and Information Technology) is included in the special commemorative QR Code, along with the logos of the G20 in 2023 and the 75th anniversary of India’s independence.

 

Under the “Digital Payments Utsav,” Paytm is planning a special campaign in which a branded car will travel to several Delhi locations with a large public presence.

Economy and Business

1. Air India agreed to purchase approximately 500 new Boeing and Airbus aircraft.

At the list price, Tata’s Air India has signed agreements to purchase approximately 500 new planes worth USD 100 billion. The French company Airbus and the American-based Boeing split the deal for approximately 500 planes.

 

Air India has agreed to acquire 220 Boeing aircraft, including 190 737 MAX narrowbody jets, 20 787 widebodies, and 10 777Xs, as well as 250 Airbus aircraft, which will be split between 210 single-aisle A320neos and 40 widebody A350s.

 

The agreement was signed by Boeing on January 27, 2023, and Airbus on February 10, 2023.

 

Air India will also be able to gain a larger share of the domestic market and regional international traffic thanks to the purchase of 400 narrowbodies.

Science and Technology

1. Gaganyaan’s Purpose: The Indian Navy and ISRO carry out the initial recovery trials.

In preparation for India’s human space flight mission, the Gaganyaan mission, the Indian Space Research Organization (ISRO) and the Indian Navy conducted the Crew Module’s initial recovery trials on February 7, 2023, at the Water Survival Test Facility (WSTF) in Kochi, Kerala.

 

The trial was conducted with a Crew Module Recovery Model (CMRM) that simulated the mass, centre of gravity, outer dimensions, and externals of the actual Crew Module upon touchdown.

 

The Gaganyaan project, according to ISRO, will send its three crew members into a 400-kilometre orbit for three days and safely return them to land in Indian sea waters, demonstrating human spaceflight capability.