Current Affairs 3rd March

National Affairs

1. The Union Cabinet approves HAL’s purchase of 70 HTT-40 Basic Trainer Aircraft in the amount of Rs. 6,828.36 Crore

The Union Cabinet has approved the purchase of 70 HTT-40 Basic Trainer Aircraft from Hindustan Aeronautics Limited (HAL) for the Indian Air Force (IAF) at the cost of Rs. 6,828.36 crores. Six years will pass before the aircraft is delivered.

 

A turboprop aircraft with enhanced training capabilities and superior low-speed handling characteristics is the HTT-40.

 

The Union Cabinet has approved the contract for the purchase of three Cadet Training Ships from Larsen & Toubro Limited (L&T) for Rs. 3,108.09 crores in the category of “Buy Indian-IDDM (Indigenously Designed, Developed, and Manufactured).”

 

The ships will be built locally in India at the L&T shipyard in Kattupalli, Chennai, Tamil Nadu (TN), where they will be designed, developed, and built.

2. India’s first ACC is operated at NTPC’s North Karanpura plant in Jharkhand.

At its North Karanpura supercritical thermal plant in Jharkhand, India’s state-owned power company NTPC Limited (NTPC) has installed the nation’s first Air-Cooled Condenser (ACC), which will help conserve water.

 

NTPC began commercial operation on March 1, 2023, with the first 660 MW unit in Jharkhand’s North Karanpura (3 X 660 MW).

 

There will be three units at the North Karanpura plant, each with a capacity of 660 MW, for a total of 1,980 MW.

 

NTPC Green Energy Limited (NGEL) is the umbrella organization under which NTPC Limited (NTPC) has completed the consolidation of its Renewable Energy (RE) portfolio.

 

The RE assets and entities of NTPC will be transferred to NGEL, an NTPC-owned subsidiary founded on April 7, 2022.

3. CMIE: The February unemployment rate rises to 7.45 per cent.

The data from the Centre for Monitoring the Indian Economy (CMIE) indicate that India’s unemployment rate increased by 7.45 per cent from 7.14 per cent in January 2023 to 7.45 per cent in February 2023.

 

In December 2022, the unemployment rate was 8.30%, in November 2022, it was 8.03%, and in October 2022, it was 7.92%.

 

Urban unemployment rose to 7.93% in February from 6.48% in January, while rural unemployment fell to 7.23 per cent in February from 8.55 per cent in January.

 

With a 29.4% unemployment rate, Haryana led the state, followed by Rajasthan (28.3%) and Sikkim.

 

With a rate of 0.8%, Chhattisgarh has the lowest unemployment rate of any state, followed by Madhya Pradesh (2.0%) and Odisha.

4. IIT Guwahati and SSA sign a memorandum of understanding to foster scientific temper among students.

Under the Rashtriya Avishkar Abhiyan of the Ministry of Education, the Indian Institute of Technology Guwahati (IIT-G) in Assam has signed a Memorandum of Understanding (MoU) with Samagra Shiksha, Assam (SSA) to strengthen students’ ability to handle challenging environments and develop scientific temper.

 

Prof. Vimal Katiyar, Dean of Research and Development at IIT Guwahati, and Sanjoy Dutta, ACS, Executive Director of Samagra Shiksha, Assam, signed the Memorandum of Understanding.

 

Through the Rashtriya Avishkar Abhiyan, the IIT-G works with other higher education institutions to mentor higher secondary schools in Assam.

 

As part of this collaboration, IIT Guwahati will work with SSA to hybridize a variety of State-level activities for secondary students in Assam’s State-run schools.

 

The science and maths Olympiad, state-level quiz competitions, mentoring in 330 schools, the formation of science and maths clubs in 330 schools, and a children’s science exhibition are among the activities.

5. Roadworthiness Certification is given to India’s First Electric Tipper from Olectra Greentech.

Olectra Greentech Limited (OGL) received India’s first homologation certificate for its electric tipper, India’s first 64 heavy-duty e-Tipper, on March 1, 2023, from ICAT (International Centre for Automotive Technology).

 

The e-tipper complies with all Central Motor Vehicles regulations and is now roadworthy.

Soon, OGL will introduce electric truck and e-tipper variants.

 

Because it emits no carbon dioxide and is silent, this e-tipper can be used around the clock at construction sites.

 

The ICAT confirmation is likewise perceived in the Netherlands, Singapore, Australia

what’s more, different nations, which would permit it to try and investigate trade amazing open doors.

 

Olectra Greentech Limited, based in Hyderabad (Telangana), is a subsidiary of Megha Engineering & Infrastructures Limited (MEIL).

International Affairs

1. The INS Sumedha of the Indian Navy is a participant in “NAVDEX 23” and “IDEX 23.”

The Indian Navy’s Indian Naval Ship (INS) Sumedha participated in two significant regional naval and defense exhibitions: The United Arab Emirates’ (UAE) IDEX 23 and NAVDEX 23 (Naval Defense Exhibition 23) events took place in Abu Dhabi, UAE, from February 20 to February 24, 2023.

 

The UAE’s primary defence exhibition is IDEX 23. India is represented at the events by a substantial defence delegation, which includes the INS Sumedha.

 

Regarding INS Sumedha i. The Navy Offshore Patrol Vessel (NOPV) INS Sumedha was launched in March 2014. It is from the Saryu class.

 

The vessel is equipped with a variety of sensors and weapon systems and can serve in support of fleet operations or independently in a variety of capacities UAE IDEX. 

 

Because it is the only international defence exhibition and conference held in the Middle East and North Africa (MENA) region, the UAE’s IDEX is an important strategic tri-service defence exhibition. At IDEX 23, a variety of cutting-edge land, sea, and air defence systems were on display.

 

‘IDEX Next Gen,’ a program designed specifically for space, was also introduced for the first time. This program gives startups a chance to show off their cutting-edge technology in the naval and defence industries.

 

Key Points:

 

NAVDEX showcased a number of naval ships and vessels from eight nations, including Kuwait, China, the United Arab Emirates, Pakistan, Bahrain, Italy, and China.

 

In addition to the Indian Navy, numerous Indian defence companies participated in IDEX and NAVDEX.

 

India-UAE Defense Ties i During Sheikh Mohamed Bin Zayed Al Nahyan’s visit to India in January 2017 as the Chief Guest at the Republic Day celebrations, the UAE and India transformed their relationship into a “Comprehensive Strategic Partnership.”

 

In June 2022, Prime Minister Narendra Modi paid his fourth visit to the United Arab Emirates.

 

India and the UAE also participate in the bilateral naval exercise known as “Zayed Talwar.”

Banking and Finance

1. SEBI endorses: NYMEX WTI crude oil and natural gas futures contracts will be launched by the NSE; MF operations will begin with Bajaj Finserv.

The rupee-denominated NYMEX WTI crude oil and natural gas futures contracts were approved by SEBI (Securities and Exchange Board of India) for the National Stock Exchange (NSE) to launch in its commodity derivatives segment on March 2, 2023.

 

NSE would be able to trade Indian market participants’ rupee-denominated Nymex WTI crude oil and natural gas derivatives contracts if the approval was granted.

 

One of the most frequently traded commodity derivatives contracts is the NYMEX WTI Crude Oil and Natural Gas contract, which attracts interest from all over the world.

 

The contracts would make it easier for participants in the Indian market to achieve their trading goals without taking price risks.

 

Bajaj Finserv received SEBI approval to begin MF operations Bajaj Finserv received SEBI approval to begin MF operations. The addition of Bajaj Finserv Mutual Fund brought the total number of MF houses in India to 42.

2. A co-branded travel credit card is being launched by HDFC Bank and IRCTC.

The “IRCTC HDFC Bank Credit Card,” one of India’s most rewarding co-branded travel credit cards, was launched by Indian Railway Catering and Tourism Corporation Ltd. (IRCTC), a provider of catering services supported by the Indian Railway. HDFC Bank Ltd. is India’s largest private-sector lender.

 

Only one version of the “IRCTC HDFC Bank Credit Card” will be available on the National Payments Corporation of India (NPCI)’s Rupay network.

 

The first private bank to work with the IRCTC to improve the user experience for train passengers, beginning with ticket booking, is HDFC Bank, India’s largest card issuer.

Chairman and Managing Director (CMD) of IRCTC, Rajni Hasija; Digital Banking, IT, Payments, and Consumer Finance Group Head Parag Rao Bank HDFC; and NPCI’s Chief Operating Officer, Praveena Rai, introduced the credit card in New Delhi, Delhi.

 

Key Advantages:

 

When booking train tickets through the IRCTC Rail Connect app and ticketing website, the card provides exclusive benefits and the highest possible savings.

 

In addition, cardholders will have access to a number of executive lounges in various Indian railway stations, a joining bonus, and discounts on bookings.

 

The credit card will speed up online transactions, offer best-in-class benefits, and make the user experience better.

 

Since RuPay Credit Cards can now be used with UPI to make payments, this co-branded card will encourage more people to use digital payments and spread them across India.

3. SIDBI and ShowReel sign an agreement to create a digital platform to help innovators.

A Memorandum of Understanding (MoU) was signed in February 2023 by the Small Industries Development Bank of India (SIDBI) and ShowReel to create an online digital platform to support innovators and encourage entrepreneurship in India.

 

The platform would provide innovators and ideators with equity funding and practical-based handholding demonstrations to help them think, analyze, and develop solutions to real-world development issues.

 

The purpose of the Memorandum of Understanding is to establish a virtual ecosystem in which entrepreneurs can make use of intellectual capital, and support and advance entrepreneurship.

 

Key Points:

 

ShowReel will provide the technical expertise necessary to construct and manage the online video platform as part of the partnership.

 

SIDBI’s expertise, on the other hand, would support and finance MSMEs (Micro, Small, and Medium-Sized Enterprises) and start-ups.

 

In addition to a virtual incubator program and access to training videos, market analysis, and mentorship, the platform will offer entrepreneurs video-based solutions to real-world issues.

Science and Technology

1. Crew-6, the first Arab astronaut to reach the International Space Station, was launched by NASA and SpaceX.

With four astronauts aboard reusable SpaceX Dragon spacecraft and a Falcon 9 rocket, SpaceX launched its Crew-6 mission to the International Space Station (ISS) on March 2, 2023, from the Kennedy Space Center of NASA (National Aeronautics and Space Administration) in Florida, United States of America.

 

The United Arab Emirates’ (UAE) first long-duration astronaut is one of the four crew members flying to the ISS.

 

SpaceX Crew-6 is the ninth crewed orbital flight since 2020 and the sixth crewed operational NASA Commercial Crew flight of a Crew Dragon spacecraft.

 

This capsule, which is called Endeavor, has traveled to space four times and been to the ISS four times.

 

The Crew 6:

 

Mission Commander Stephen Bowen and Pilot Warren “Woody” Hoburg of NASA, as well as Sultan AlNeyadi of the United Arab Emirates and Roscosmos cosmonaut Andrey Fedyaev, who will act as mission specialists for a space station science expedition, are aboard the Crew-6 launch.

 

The four astronauts who were on the Crew-5 mission when it arrived at the ISS in October 2022 will be replaced by members of Crew 6. In about a week, that team is scheduled to return to Earth.

 

There are now 14 people in space as a result of the launch. Three are on the Tiangong space station, four are in the Crew-6 capsule, and seven are on the International Space Station.

 

The crew member’s background:

 

Stephen Bowen is a former submariner in the Navy. Former research scientist Warren “Woody” Hoburg worked at the Massachusetts Institute of Technology (MIT). Russian Air Force pilot Andrei Fedyaev is now retired.

 

Sultan al-Neyadi, a communications engineer, was Hazzaa al-Mansoori, the first Emirati astronaut,’s backup.

 

Concerning Sultan al-Neyadi, i. In 2018, the United Arab Emirates selected Sultan al-Neyadi as one of two astronauts to make up the first group of Emirati astronauts.

 

After Hazza Al Mansouri, he is only the second UAE citizen to take part in a space mission.He will be the first Arab astronaut to spend a long time aboard the ISS.