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 16 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 16 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 – 16 February 2023
ICICI Bank signs pact with BNP Paribas
ICICI Bank signs pact with BNP Paribas: To meet the banking needs of European businesses doing business in India and Indian businesses doing business in the European Union, ICICI Bank and BNP Paribas have signed an initial agreement. The Memorandum of Understanding (MoU) between the two entities establishes a framework of a partnership between the two banks for providing financial services to corporate customers operating in the India, Europe corridor, private sector lender ICICI Bank said in a statement.
February 2023 Current Affairs Quiz
Need of This Agreement:
India is poised to spearhead global growth in the near future as the fifth-largest economy in the world and a country with a strong focus on becoming a hub for regional manufacturing. This makes India a very attractive destination for trade and foreign investment, with Europe ranking amongst the top regions investing in India. We are confident that ICICI Bank will support BNP Paribas’ customers, grow their business in India, and make India one of their key markets, Anup Bagchi, Executive Director, of ICICI Bank said.
About BNP Paribas:
BNP Paribas is a French international banking group, founded in 2000 from the merger between Banque Nationale de Paris and Paribas, formerly known as the Banque de Paris et des Pays-Bas. BNP Paribas Group has been in India since 1860 and is among the leading international financial institutions providing a wide range of financial services covering corporate and institutional banking, and personal investment services for individuals.
Paytm Payments Bank becomes 1st to launch UPI LITE feature
UPI LITE: Unified Payments Interface (UPI) LITE, supported by National Payments Corporation of India (NPCI) for numerous small-value UPI transactions, has been introduced by Paytm Payments Banks Limited (PPBL). This feature will help with faster real-time transactions with a single click through Paytm as the bank aims to drive the adoption of digital payments across the country. As a part of its efforts to drive innovation, the Bank said it is the first payments bank to launch such UPI LITE feature.
February 2023 Current Affairs Quiz
Small value transactions are also cleared out of the bank passbook because they are now only visible in the Paytm balance and history area rather than the bank passbook. The small value transactions would now only show in the Paytm balance and history section, and not in the bank passbook. With UPI LITE, users can carry out a large number of small-value UPI payments in a superfast manner without worrying about cap on the number of bank transactions.
What is UPI Lite?
- UPI LITE is a new payment solution that leverages the trusted NPCI Common Library (CL) application to process low value transactions that have been set at below ₹ 200. The solution runs off existing UPI ecosystem protocols for mobile phones to ensure commonality, compliance and system acceptance.
- • In September 2022, the Reserve Bank of India introduced UPI LITE, a system created by the National Payments Corporation of India (NPCI). Unified Payments Interface (UPI) is an instant real-time payment system developed by National Payments Corporation of India (NPCI).
- The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions. It is used on mobile devices to instantly transfer funds between two bank accounts.
Important takeaways for all competitive exams:
Paytm Payments Bank Headquarters: Noida;
Paytm Payments Bank Founded: 2015;
Paytm Payments Bank Founder: Vijay Shekhar Sharma;
MD & CEO at Paytm Payments Bank: Surinder Chawla.
Science Center and Planetarium to be constructed in Kota by NCSM
Science Center and Planetarium to be constructed in Kota: In Kota, Rajasthan, a Science Center and Planetarium will be constructed. The Science Center and Planetarium will be one of the best science centers and planetariums in the world. About 35 crore 25 lakh rupees will be spent on these.
In this regard, an MoU was signed between the Rajasthani government’s Science and Technology Department and the National Council of Science Museums.
February 2023 Current Affairs Quiz
About National Council of Science Museums
National Council of Science Museums (NCSM) is an autonomous organization under the Ministry of Culture. It is the largest chain of science centers or museums under a single administrative umbrella in the world. There are 24 science centers or museums and one R & D laboratory and training center of NCSM, located in different states in India.
On May 2, 1959, the Birla Industrial and Technological Museum (BITM), located in Kolkata and operated by CSIR43, opened its doors. In July 1965, the second science museum of the country, the Visvesvaraya Industrial & Technological Museum (VITM) was opened in Bangalore.
Which is the largest Planetarium in India?
Birla Planetarium in Kolkata is the largest planetarium in Asia and the second largest in the world. It is one of the most famous planetariums in India. Popularly known as Taramandal, the planetarium was inaugurated on 2 July 1963 by the then Prime Minister of India, Jawaharlal Nehru.
It has an electronics laboratory for the design and fabrication of science equipment. It has an astronomy gallery that maintains a huge collection of fine paintings and celestial models of renowned astronomers.
International Energy Agency Reports Asia to Use Half of World’s Electricity by 2025
International Energy Agency Reports Asia to Use Half of World’s Electricity by 2025: Asia will use half of the world’s electricity for the first time by 2025, even as Africa continues to consume far less than its share of the global population, according to a new forecast released by the International Energy Agency. China will use the majority of the electricity in Asia. It is a country with 1.4 billion people whose share of global consumption will rise from a quarter in 2015 to a third by the middle of this decade.
February 2023 Current Affairs Quiz
International Energy Agency Reports Asia to Use Half of World’s Electricity by 2025- Key Points
- According to Keisuke Sadamori, director of energy markets and security at the IEA, China will use more electricity than the European Union, the United States, and India put together.
- Africa, home to almost a fifth of the world’s nearly 8 billion inhabitants, will account for just 3% of global electricity consumption in 2025.
- The IEA’s annual report predicts that nuclear power and renewables such as wind and solar will account for much of the growth in global electricity supply over the coming three years.
- The report also informs that this will prevent a significant rise in greenhouse gas emissions from the power sector.
- Scientists inform that it is possible to keep average global temperatures from rising 1.5 degrees Celsius (2.7 Fahrenheit) above pre-industrial levels.
- One hope for meeting the goal is a wholesale shift away from fossil fuels such as coal, gas and oil toward low-carbon sources of energy.
- But while some regions are reducing their use of coal and gas for electricity production, in others consumption is increasing.
- The 134-page report also advised policymakers to address the growing dependence of electricity consumption and supply on the weather.
- In addition to drought in Europe, there were heat waves in India, similarly, central and eastern China were hit by heatwaves and drought.
- The United States also saw severe winter storms in December, and all of these events put enormous demand on the power systems of these regions.
- As the clean energy transition gathers pace, the impact of weather events on electricity demand will intensify due to the increased electrification of heating, while the share of weather-dependent renewables will continue to grow in the generation mix.
Indian Army Gets ‘World’s First’ Fully Operational SWARM Drone System
SWARM drones: The Indian Army is the first major armed force in the world to operationalize these high-density SWARM drones according to NewSpace Research, a Bengaluru-based start-up. This delivery may possibly be the world’s first operational high density swarming UAS (Unmanned Aerial System) induction for military applications, especially given that most swarm drone research is yet to be operationalised across the world. The 100 drone swarm is capable of striking targets up to 50 kilometres within enemy territory.
February 2023 Current Affairs Quiz
About the drones
The swarming systems were ordered under the emergency procurement (EP) and show that India has taken a global lead with induction of a cutting edge ‘Made in India’ technology which is at par, if not ahead, of its peers across the world. They added that this is a part of the government’s Aatmanirbhar effort to indigenise critical and disruptive military technologies.
These drones are capable of carrying bombs of a particular weight and can home into a target, like moving armoured columns, artillery positions, and infantry bunkers and attack. Swarm drones are the solution for a closely contested airspace where individual drones can be taken down. The IAF will also induct operational swarming UAS in the near future. The drones delivered by NewSpace, and a follow-on homogeneous swarm drone delivery from Raphe Mphibr in days ahead, will be inducted into the mechanised forces where they will be used for surveillance and attack missions.
IQAir: Mumbai overtakes Delhi as most polluted city in India
Swiss air tracking index IQAir: In the week between January 29 and February 8, the Swiss air tracking index IQAir, a real-time air quality monitor, identified Mumbai as the second most polluted city in the world and the most polluted city in India. On January 29, Mumbai was ranked 10th in the rankings for the poorest position. Mumbai then clinched the second spot on February 2 before falling in the following days. Then it again rose to take the second place on February 8. On February 13, Mumbai took over Delhi as the most polluted city in India and was the third most unhealthy city worldwide for air quality worldwide.
Top 10 most-polluted cities worldwide:
| Ranks | City |
| 1 | Lahore (Pakistan) |
| 2 | Mumbai (India) |
| 3 | Kabul (Afghanistan) |
| 4 | Kaohsiung (Taiwan) |
| 5 | Bishkek (Kyrgyzstan) |
| 6 | Accra (Ghana) |
| 7 | Krakow (Poland) |
| 8 | Doha (Qatar) |
| 9 | Astana (Kazakhstan) |
| 10 | Santiago (Chile) |
What is IQAir?
IQAir, a Swiss air tracking index and a real-time worldwide air quality monitor, collaborates with UNEP and Greenpeace and measures air quality in India using data from the Central Pollution Control Board (CPCB). According to US air quality index (AQI) standards, which are stricter than those in India, the cities are divided into three categories: “healthy,” “unhealthy,” and “hazardous.”
World Bank chief David Malpass to step down early
World Bank chief steps down: David Malpass, the head of the World Bank, has announced his resignation almost a year early. He ending a tenure at the head of the development lender that was clouded by questions over his climate stance. The American Republican who had previously worked as Under Secretary of the Treasury for foreign affairs was appointed to the position in 2019 when Donald Trump was president. Malpass’s term would have originally ended in 2024.
February 2023 Current Affairs Quiz
The US traditionally nominates the head of the World Bank, with Europe nominating the heads of its twin Bretton Woods institution, the International Monetary Fund. Names mentioned by analysts as potential Biden administration picks include Samantha Power, head of the the US Agency for International Development, and Rajiv Shah, the president of the Rockefeller Foundation and a former head of USAID.
Up’s and Down’s of Malpass as a head of World Bank
- His tenure at the World Bank saw the organization grapple with global crises such as the Covid-19 pandemic, the Russian invasion of Ukraine and an international economic slowdown.
- Under (Malpass’s) leadership, the Bank Group more than doubled its climate finance to developing countries, reaching a record $32 billion last year
- His work to assist the Afghan people and his commitment to helping low-income countries achieve debt sustainability through debt reduction.
- As head of the anti-poverty lender, he pressured Beijing to provide more debt relief for developing nations.
What is World Bank and how it works?
A major source of technical and financial assistance for developing countries worldwide is the World Bank. They are not a bank in the ordinary sense but a unique partnership to reduce poverty and support development. The World Bank Group comprises five institutions managed by their member countries. The World Bank promotes long-term economic development and poverty reduction by providing technical and financial support to help countries implement reforms or projects, such as building schools, providing water and electricity, fighting disease, and protecting the environment.
5 branches of World Bank
- IBRD: The International Bank for Reconstruction and Development
- IDA: The International Development Association
- IFC: The International Finance Corporation
- MIGA: The Multilateral Investment Guarantee Agency
- ICSID: The International Centre for Settlement of Investment Disputes
Prime Minister Narendra Modi to Inaugurate National Aadi Mahotsav
Prime Minister Narendra Modi to Inaugurate National Aadi Mahotsav: On February 16, 2023, at Major Dhyan Chand National Stadium in New Delhi, Prime Minister Narendra Modi officially opened the National Aadi Mahotsav. This was announced at a media briefing by the Union Minister of Tribal Affairs, Arjun Munda in New Delhi.
February 2023 Current Affairs Quiz
Renuka Saruta, a minister of state for tribal affairs, was also present. Arjun Munda also informed that the Prime Minister will be given an overview of the products which will be on display at various stalls and will engage with the artisans and the craftsmen from the tribal communities.
Prime Minister Narendra Modi to Inaugurate National Aadi Mahotsav – Key Points
- The Minister added that the Prime Minister’s vision of an Aatma Nirbhar Bharat is being realised thanks to the Prime Minister’s Tribal Affairs Ministry’s unremitting efforts to secure the full participation and involvement of the tribal community.
- He also said that the emphasis on the organic production of products by the tribal communities can play a big role in combating the challenge of global warming.
- The Minister noted that an effort has been made to draw more and more artisans from remote areas producing lesser-known and unique items to come and take part in Aadi Mahotsav being organized across the country.
- He also added that the Aadi Mahotsav is a major platform to catapult the tribal products into national and international markets.
- TRIFED is engaging with top designers to ensure quality and contemporary designs in tribal products, at the same time maintaining their originality.
- “A Celebration of the Spirit of Tribal Crafts, Culture, Cuisine, and Commerce” is the subject of the current iteration of TRIFED’s signature event, and it embodies the fundamental principles of tribal life.
- The festival will feature exhibition-cum-sale of tribal handicrafts, handloom, paintings, jewelry, cane & bamboo, pottery, food & natural products, gifts & assortment, tribal cuisine, and much more through 200 stalls to showcase this.
- The festival will include more than 1000 indigenous artisans and artists from 28 States and UTs. This includes are the 19 States/UTs’ and 20 food stalls’ indigenous cooks.
- Millets have long been a staple of tribal people’ diets. The International Year of Millets was established by the United Nations at the request of the Indian government.
- To commemorate this and create awareness and increase the production & consumption of tribal millets, tribal artisans from across the country are invited to display & sell millet products and cuisines.
Saudi Arabia to send its first woman astronaut into space
Saudi Arabia to send its first woman astronaut into space: A Saudi Arabian woman will become the first woman astronaut from the country to go on a space mission later this year, AFP reported.
February 2023 Current Affairs Quiz
Rayyana Barnawi will join fellow Saudi astronaut Ali Al-Qarni on a 10-day mission to the International Space Station (ISS).
Barnawi and Al-Qarni will fly to the ISS aboard a SpaceX Dragon spacecraft as part of a mission this spring by the private space company Axiom Space, according to Saudi Press Agency and Axiom. Peggy Whitson, a former NASA astronaut, will also be on board for her fourth flight to the ISS. Meanwhile, John Shoffner, a Tennessee businessman, will be the pilot. The Ax-2 mission will be launched by a SpaceX Falcon 9 rocket from Launch Complex 39A, NASA’s Kennedy Space Center in Florida.
The crew will be launched into space by a SpaceX Falcon 9 rocket from NASA’s Kennedy Space Center in Florida. Neighbouring United Arab Emirates had become the first Arab country to send woman astronaut Noura Al-Matrooshi into space in 2021.
South Indian Bank ties up with Maruti for car financing
South Indian Bank ties up with Maruti for car financing: South Indian Bank has announced the signing of a MoU with Maruti Suzuki to provide dealer finance options and customised auto retail financing solutions for customers.
With this tie-up, South Indian Bank aims to help dealer partners streamline vehicle inventory funding and offer comprehensive retail financing solutions to the customers of Maruti Suzuki.
February 2023 Current Affairs Quiz
The MoU was signed in the presence of Shashank Srivastava, Senior Executive Officer, Marketing & Sales, MSIL, Bhuvan Dheer, Executive Vice President, Sales, MSIL, Vikas Kohli, Vice President, MSIL, Murali Ramakrishnan, MD & CEO, South Indian Bank, and other senior officials from both organisations.
Murali Ramakrishnan, MD and CEO, South Indian Bank, said, “It is our immense pleasure to have partnered with Maruti Suzuki, the largest passenger vehicle manufacturer in India. With our diverse finance solutions, we aim to provide convenient and comprehensive finance options and are confident that this partnership will cater to the business requirements of both companies and produce a great synergistic effect.”
Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited , said , “the tie-up will provide financing solutions for our dealer partners as well as for our customers. Both Maruti Suzuki and South Indian bank are committed to delivering the best customer experiences.”
It will cater to the business requirements of both companies and produce a significant synergistic effect. South Indian Bank MD and CEO: Murali Ramakrishnan; Headquarters: Thrissur
