25 February 2023 Current Affairs – The Day’s Top News | GKSERIES
Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 25 February 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
So, here is the Top News of the Day for 25 February 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.
Current Affairs for Competitive Exam – 25 February 2023
7-year-old Prince from Bhutan becomes first digital citizen of the country
7-year-old Prince from Bhutan becomes first digital citizen of the country: Bhutan has begun to modernise its digital infrastructure. The Himalayan kingdom recently welcomed its first digital citizen. The Bhutan National Digital Identity (NDI) mobile wallet, Royal Highness The Gyalsey (Prince) Jigme Namgyel Wangchuck has become the first digital citizen of Bhutan. The system under consideration employs cutting-edge technology to provide citizens with safe and verifiable credentials that can be used to prove their identity.
February 2023 Current Affairs Quiz
According to media report, India has been consistently supporting Bhutan’s efforts to establish a digital infrastructure. The two nations are collaborating on various technology initiatives. This includes the construction of Bhutan’s third international internet gateway, with the Indian government facilitating a concessional rate to reduce the cost of its operation. Under Bhutan’s flagship programme ‘Digital Drukul,’ an optical fibre backbone has been provided at the village level across all 20 districts of the country. This latest development marks a significant milestone in Bhutan’s journey towards a digital future, as the country continues to expand its digital capabilities.
About the Bhutan NDI
The Bhutan NDI is based on the “self-sovereign identity” model, which in turn relies on the framework provided by the Decentralised Identity (DID) technology. It has been designed to accord people greater control over their personal information, allowing them to limit who can access it. ensuring their privacy and protection. The development of Bhutan NDI was made possible through a partnership between GovTech Bhutan and Bhutan-based DHI InnoTech. The company’s director, Ujjwal Dahal described the project as “important” and “pioneering.”
Important takeaways for all competitive exams:
Bhutan Capital: Thimphu;
Bhutan King: Jigme Khesar Namgyel Wangchuck;
Bhutan Currencies: Bhutanese Ngultrum, Indian Rupee;
Bhutan Official language: Dzongkha.
Pakistan receives $700 mln funds from China
Pakistan receives $700 mln funds from China: Ishaq Dar, Pakistan’s Finance Minister, announced that his country has received $700 million from the China Development Bank. The deposit comes as Pakistan has been struggling with its external debt and has barely enough dollars to cover less than three weeks’ worth of imports. Finance Minister Ishaq Dar referred to the deposit as a “lifeline” for Pakistan.
February 2023 Current Affairs Quiz
Significance of This Deposit by China to Pak:
The loan will help to replenish the country’s dwindling foreign exchange reserves, and it is expected to arrive this week at the State Bank of Pakistan. The coalition government has been trying to increase the country’s foreign exchange reserves, which currently stand at $3.25 billion as of February 17.
However, the delay in the revival of the $6.5 billion International Monetary Fund (IMF) programme has made it difficult for the government to achieve this goal.
Refinancing of Loans by Pakistan:
Pakistan also intends to refinance two additional commercial loans worth a total $500 million and $800 million. In total, Pakistan is aiming to refinance Chinese loans up to $2 billion by the end of February or the first week of March 2023.
This deposit from China is expected to ease some of the pressure on Pakistan’s economy, which has been struggling due to the pandemic and external debt.
Pakistan’s Total Debt:
Pakistan’s external debt servicing obligation for the current fiscal year 2022-23 is $23 billion, of which $6 billion has already been repaid and $4 billion has been rolled over, leaving $13 billion unfunded. The country also has further repayment obligations of $75 billion during FY24-26.
Uttarakhand govt inks deal for ropeway at Yamunotri Dham
Ropeway at Yamunotri Dham : The Uttarakhand government has signed a contract to build a 3.38-kilometer ropeway connecting Janki Chatti in Kharsali with Yamunotri Dham. To be built at a cost of Rs 166.82 crore, the ropeway will cut down the travel time from the current 2-3 hours to just 20 minutes. At present pilgrims have to trek for 5.5 km to reach Yamunotri Dham from Kharsali. In the presence of Chief Minister Shri Pushkar Singh Dhami, the Uttarakhand Tourism Development Board signed a contract with two private construction companies, SRM Engineering Solutions Pvt. Ltd. and FIL Industries Pvt. Ltd.
February 2023 Current Affairs Quiz
Specification of the ropeway
- The ropeway from Kharsali village to Yamunotri Temple in Uttarkashi district of Uttarakhand is being built under public-private partnership (PPP) mode.
- The ropeway, which will be built at an altitude of 10,797 feet, will be 3.38 km long (aerial distance) and will cost Rs 166.82 crore to build.
- Around 1.78-hectare land has been identified for the lower terminal of the ropeway at Kharsali while for the upper terminal, 0.99 hectare land has been identified near Yamunotri Temple.
- Based on Mono-Cable Detachable Gondola system technology, the ropeway will have a design capacity of minimum 500 PPHPD (person per hour per direction).
Necessity For Ropeway
Yamunotri is one of the four most revered Hindu pilgrimages in the Himalayas, along with Gangotri, Kedarnath, and Badrinath. The small mountain hamlet, with the Yamunotri Temple at its centre, attracts thousands of devotees every year and is the commencing point of the Char Dham Yatra pilgrimage (May to October), which proceeds from Yamunotri to Gangotri and finally to Kedarnath and Badrinath.
Lodged in a narrow gorge, close to the source of the Yamuna, the Yamunotri Temple is dedicated to Yamuna, the second-most sacred river after the Ganges. Devotees either walk or ride a palanquin or a pony to reach the temple (around 3,233 m above sea level) from Kharsali in Janki Chatti, a steep trek of about 3 km that takes about 3 hours.
Apart from providing a scenic aerial view of the stunning landscape dotted with icy peaks, glaciers, and hot springs, the ropeway project will reduce travel time to just 15-20 minutes. The ropeway will not just reduce the distance to the Himalayan temple but also save pilgrims, especially the elderly, from undertaking the arduous trek to reach it.
Important takeaways for all competitive exams:
Uttarakhand Governor: Gurmit Singh;
Uttarakhand Chief minister: Pushkar Singh Dhami;
Uttarakhand Capitals: Dehradun (Winter), Gairsain (Summer).
ICAR develops a new HD-3385 wheat variety that can beat the heat
ICAR develops a new HD-3385 wheat variety: The Indian Council of Agricultural Research (ICAR) has developed a new type of wheat to address issues caused by changing weather patterns and rising temperatures. This brand-new HD-3385 wheat variety may be sown early, evades the effects of heat waves, and is ready for harvest by the end of March.
February 2023 Current Affairs Quiz
ICAR develops a new HD-3385 wheat variety
The Union Agriculture Ministry declared that a committee had been established to keep track of the situation brought on by the rise in temperatures and any effects it may have on the current wheat harvest. This occurs despite the fact that grain inflation spiked to a record 16.12%% year-over-year in January, driven mostly by increases in the price of wheat and atta (flour), which saw a 25.05% yearly increase in consumer prices.
Wheat stocks in government godowns, which were at 154.44 lakh tonnes on February 1—the lowest for the same date in six years—have made the situation worse. The wheat that farmers are currently growing in their fields, which won’t be harvested until April, is a major source of worry. Last year, a spike in March temperatures burned the crop at precisely the right time when the grains were storing proteins and starch, causing a major decline in both production and government purchases.
What is the ideal temperature for a wheat crop?
- With maximum and minimum temperatures already 3-5 degrees Celsius above average in several wheat-growing regions, there is concern that the same thing will occur again this time.
- Regardless of whether March 2022 will occur again, climate change has undoubtedly made India’s wheat crop susceptible to terminal heat stress during the last stages of grain formation and filling.
- This is especially true given the tendency for summer to arrive early with little to no spring break.
- Wheat is normally a 140-145 day crop planted before the middle of the month (following the harvest of paddy, cotton, and soybean) in Punjab, Haryana, Rajasthan, and Madhya Pradesh, and it is planted in the second half and beyond of the month in Uttar Pradesh and Bihar (after sugarcane and paddy). The crop won’t be subjected to terminal heat if sowing can be postponed and started around October 20.
- Most of the grain filling will be finished by the third week of March. Hence, it can be comfortably harvested by the end of the month.
Kotak Mahindra Bank launches corporate customer platform fyn
Kotak Mahindra Bank launches corporate customer platform fyn: Private lender Kotak Mahindra Bank on Tuesday launched Kotak fyn, a unified portal for corporate customers to track their payments, collections, trade and other services related to their bank accounts.
The bank is also planning to introduce a new loan origination and management system that would digitize the process from loan application, to sanction, to disbursal. While this loan origination and management system is expected to reduce the turnaround time for corporate borrowers, the bank also believes this will make the process more transparent. This system would reduce the turnaround time for corporate borrowers and make the process more transparent.
February 2023 Current Affairs Quiz
The platform would be available to all business banking customers of the bank, irrespective of their size. As long as a customer uses working capital products or loans from the bank, they would not have to pay anything additional for accessing fyn, Manian said.
Manian said that during covid, corporates and businesses scaled up their digital engagements and the bank saw significant traction in digital engagement.
NTPC ranked as the top Independent Power Producers
NTPC ranked as the top Independent Power Producers: National Thermal Power Corporation (NTPC) Limited, the country’s largest power generating company has been ranked as the number one independent power producer and energy trader globally in the S&P Global Commodity Insights Top 250 Global Energy Company Rankings-2022. These rankings are based on four key metrics: Asset worth, Revenues, Profits, and Return on Investment (ROI).
February 2023 Current Affairs Quiz
NTPC is one of the key pillars sustaining India’s economic growth and development. NTPC currently provides 24% of the total electricity produced in India, with a share of 17% of installed capacity. NTPC has always aimed to provide affordable, effective, and environmentally sustainable electricity. It provides a diverse energy blend made up of gas, wind, solar, hydro, floating solar, and coal to achieve this goal.
By 2032, NTPC wants its portfolio, which currently consists of 130 GW of total capacity and 60 GW of green energy capacity, to be almost 50% non-fossil fuel-based capacity. The business is at the forefront of India’s energy transition in terms of scope, effectiveness, and energy production from cleaner and greener sources. For the net energy zero initiative, it has partnered with NITI Aayog.
Abu Dhabi defence firm, India’s HAL sign MoU at UAE’s defence expo
Abu Dhabi defence firm, India’s HAL sign MoU at UAE’s defence expo : UAE’s leading defense group, EDGE signed a Memorandum of Understanding with India’s aerospace firm Hindustan Aeronautics Limited (HAL) at the International Defence Exhibition and Conference (IDEX).
Aim: To explore the areas of cooperation, including joint design and development of missile systems and Unmanned aerial vehicles (drones).
February 2023 Current Affairs Quiz
Besides, both companies will also explore the utilization of HAL’s small gas turbine engines on EDGE’s guided weapons.
UAE Defence Expo
- It was held February 20-24. This is the UAE’s flagship defence expo.
- IDEX-UAE is internationally recognized as a strategically important tri-services defence exhibition.
- Amid the Russia-Ukraine war, the main focus of this edition of IDEX in the UAE is on drones, robotics, cyber security platforms, maritime security, air defence systems and more on secure communications.
- It showcases the state-of-the-art technology available globally in the defence sector.
Thomas Cook, Pine Labs launch UPI payment facility for foreign visitors
Thomas Cook, Pine Labs launch UPI payment facility for foreign visitors : Pine Labs, a leading merchant commerce omnichannel platform and Thomas Cook (India) Limited, India’s leading foreign exchange service provider, have partnered with National Payments Corporation of India (NPCI), in a pioneering initiative to ensure safe, seamless, convenient merchant payments via UPI for foreign nationals from G20 countries.
February 2023 Current Affairs Quiz
The prepaid payment product is issued by Pine Labs under the PPI authorisation obtained from RBI. This facility can be availed on arrival – across Thomas Cook’s airport counters.
When encashing foreign currency at Thomas Cook’s counter, the customer can open a Pine Labs Fave Money prepaid account loaded with the rupee value.
Former Mastercard CEO, Ajay Banga nominated to Lead World Bank
Former Mastercard CEO, Ajay Banga nominated to Lead World Bank : US President Joe Biden said Thursday that Washington 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. 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.
February 2023 Current Affairs Quiz
He would replace David Malpass, who will step down from his role this June before completing his tenure in April 2024. He was nominated for his expertise in handling global challenges including climate change.
Presently, he is serving as the vice chairman at private equity firm General Atlantic. Notably, he is the first Indian-born nominee for this role.
SS Rajamouli’s RRR wins ‘Best International Film’ award at HCA
RRR wins ‘Best International Film’ award at HCA: ‘RRR,’ directed by SS Rajamouli, has won the ‘Best International Film’ award at the Hollywood Critics Association Film Awards. The award was accepted with joy and pride by film director Rajamouli and actor Ram Charan. It has also won three more awards at the HCA film awards. Before bagging the ‘Best International Film’ award, ‘RRR’ won three awards at HCA – ‘Best Action Film’, ‘Best Stunts’, and ‘Best Original Song’.
February 2023 Current Affairs Quiz
The ‘RRR’ team is currently in Los Angeles, where they will attend the Oscars on March 12. ‘RRR’ song ‘Naatu Naatu has been nominated for the Oscars in ‘Original Song’ category. In January this year, ‘Naatu Naatu’ won the Golden Globes in the ‘Best Original Song’ category. ‘RRR’ bagged two more awards at the 28th edition of the Critics Choice Awards. The song ‘Naatu Naatu’ from the film ‘RRR,’ starring Jr NTR and Ram Charan, won the Critics’ Choice Award for Best Song. In addition, it received the ‘Critics’ Choice Award for ‘Best Foreign Language Film’ at a ceremony in Los Angeles.
About the RRR Movie:
The film RRR is based on the lives of two Telugu freedom fighters, Alluri Seetharama Raju and Komaram Bheem.Ram Charan and Jr NTR played lead roles, respectively. The film collected over ₹1,200 crore worldwide. Alia Bhatt, Ajay Devgn and Shriya Saran also starred in the film.
This lyrical composition of ‘Naatu Naatu’ by MM Keeravani, high energy rendition by singers Rahul Sipligunj and Kaala Bhairava, unique choreography by Prem Rakshith, and lyrics by Chandrabose are all the elements that make this ‘RRR’ mass anthem a perfect dance craze.