Correct Answer :   Odisha

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The Odisha government has announced a new livelihood and income-generating scheme for the tribal people with an outlay of Rs 500 crore, an official said on Friday (10th March 2023).

* The state cabinet led by Chief Minister Naveen Patnaik approved the scheme during its meeting held on Thursday (9th March 2023), Parliamentary Affairs Minister Niranjan Pujari said in the Odisha Assembly on Friday (10th March 2023).

* The ST & SC Development, Minorities & Backward Classes Welfare department will implement the livelihood cluster development initiative under Mukhya Mantri Janajati Jeebika Mission.

* The state-funded scheme will be implemented in 119 tribal sub-plan (TSP) blocks of the state through 22 integrated tribal development agencies (ITDAs) utilising a total outlay of Rs 500 crore over a period of three years (2023-24 to 2025-26).

* As per the scheme, over 1.5 lakh tribal households will be supported by ensuring timely access to quality inputs, infrastructure support incidental to livelihood, introduction of better production practices, training and capacity building support and marketing assistance in a convergence mode.

* The ST & SC Development department, through this new scheme, will enable the tribal households to venture into well planned farm-based and off-farm livelihood activities at the household level to enhance their income and quality of life on a sustained basis, officials said.

* This new initiative will supplement the Odisha government's vision of improving the lives and livelihoods of the tribal communities in the state by enhancing their economic power and strengthening their sources of livelihood.

* The state cabinet has also approved a special package of incentives for a very large investment proposal of Indian Oil Corporation Limited (IOCL).

* The Central-PSU has proposed setting up of a mega Dual Feed Cracker (DFC) at Paradip with investment of Rs 58,042 crore for production of ethylene, polypropylene, poly vinyl chloride (PVC), phenol, Is-Propyl Alcohol (IPA) etc.

* The Dual Feed Cracker will enable significant industrial development in various downstream industries like plastic, pharma, agro-chemical, personal care products, speciality chemicals, paints, packaging materials etc.

* The IOCL and its downstream industries will generate employment for about 25,000 people, both directly and indirectly..

Source : Business Standard

Correct Answer :   Uttarakhand

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Uttarakhand has become the india's first state to launch the 'Resham Keet Bima' scheme for protecting its sericulturists, state agriculture minister Ganesh Joshi said on Thursday (9h March 2023).

* Under the pilot project, which started from Uttarakhand, in the first phase, 200 sericulturists from five blocks of four districts -- Dehradun, Haridwar, Udham Singh Nagar and Nainital -- have been insured from the ill effects of climate change, scarcity of water and other hazards.

* The scheme, which is being run under Saral Krishi Beema, was launched in the presence of Uttarakhand co-operative Silk Federation Limited chairperson Ajeet Singh, CMD of Agriculture Insurance Company of Indian Limited Girijia Subramanian, NABARD CGM VK Bisht and director of silk directorate AK Yadav in Dehradun on Thursday (9th Mar 2023).

* According to Ajeet Singh, the project is a step to promote the production of silk in the state. Nearly 12,000 families are linked directly and indirectly to sericulture in the state and last year, nearly 300 metric tonnes of silk fibroin was produced in Uttarakhand by 6,000 stakeholders.

* The insurance by the government will certainly shield us from tough natural situations and keep us motivated to retain silk production, said Mahaveer Singh, a sericulturist from Haridwar...

Source : India Times

Correct Answer :   Sumant Kathpalia

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Private lender IndusInd Bank on Friday (10th March 2023) said that the Reserve bank of India had approved the re-appointment of Sumant Kathpalia as management director (MD) and chief executive officer (CEO) of the bank.

* IndusInd Bank said the central bank has approved the re-appointment of Sumant Kathpalia as MD and CEO for a period of two years from 24 March, 2023.

* The nod by RBI comes nearly six months after the IndusInd Bank's board of directors had cleared another term for Kathpalia, who has been the lender's MD & CEO since March 2020.

* At IndusInd Bank, he has been part of the management team for 15 years ago. He has been a key member of the top-level executive committee looking at IndusInd Bank-wide financial management, managing investor relations and evaluating inorganic growth opportunities.

* "In his prior role as Head - Consumer Bank at IndusInd Bank, Kathpalia has been instrumental in setting up several new businesses from scratch to cater to the needs of individual and SME segments," the bank said.

* IndusInd Bank's recorded a rise of 68.71% in profit after tax to ₹1,959.20 crore for the quarter ended December 2022 from a profit of ₹1,161.27 crore in the same quarter last year. The lender also recorded a significant drop in gross NPA and provisions during the quarter.

* Meanwhile, in Q3FY23, the bank's net interest income (NII) stood at ₹4,495.34 crore increasing by 18.5% from ₹3,793.57 crore in Q3 of FY22. But up by 4.5% from ₹4,302.05 crore in Q2FY23..

Source : Mint

Correct Answer :   Siddhartha Mohanty

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Siddhartha Mohanty, MD of Life Insurance Corporation (LIC) has been given a 3-month charge as chairman, from 14th March 2023. Moreover, the insurance juggernaut claims that MR Kumar, the current chairman of the LIC, has not received an extension.

This is an an interim arrangement in addition to Mohanty's own duties.

LIC said in a stock exchange filing that “In terms of Regulation 30 of the SEBI(LODR) Regulations, 2015, we advise that, in view of the completion of term of Shri Mangalam Ramasubramanian Kumar as Chairperson of LIC of India, effective from the close of business hours on 13th March, 2023, Department of Financial Services, Ministry of Finance, Govt of India, has vide F. no. A-15011/01/2022-Ins.I dated 11th March, 2023, conveyed the approval of the Competent Authority, for entrusting financial and administrative powers and functions of Chairperson, LIC in the interim to Shri Siddhartha Mohanty, Managing Director in addition to his own duties, for a period of three months, with effect from 14th March, 2023, or till assumption of the charge by the regular appointee to the said post, or until further orders, whichever is the earliest."

The authorities appointed Siddhartha Mohanty, the managing director (MD) and chief executive officer (CEO) of LIC Housing Finance, as the MD of Life Insurance Corporation (LIC), India's largest insurer, effective February 1st, 2021.

In place of TC Suseel Kumar, who was scheduled to retire on January 31, 2021, Siddhartha Mohanty was nominated to serve as the MD of LIC until his superannuation on June 30, 2023..

Source : Mint

Correct Answer :   Jammu and Kashmir

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In Jammu and Kashmir, the Directorate of Rural Sanitation has launched the Swachh Bharat Mission Grameen Internship-2023.

Aim : At engaging the youth enrolled in colleges and universities, as well as research scholars, who are interested in working in rural areas for the implementation of the Swachh Bharat Mission (Grameen) and being a part of the "Jan Andolan".

* The internship program provides an opportunity for young minds to gain valuable experience, develop their skills, and contribute meaningfully towards the implementation of the SBM (G) Phase II.

* The participants will have the opportunity to work on various aspects of the SBM (G) Phase-II, such as community mobilization, behavior change communication and capacity building.

* The program aims to provide them with hands-on experience, which will help them understand the ground realities and challenges of rural sanitation in India. Interested candidates can apply for the internship through the form provided at https://forms.gle/4DQqkcF1EuwZH3hz5.


* Additionally, the terms and conditions of the internship can be downloaded from the Directorate of Rural Sanitation website at drsjk.jk.gov.in or through this link: https://t.ly/PsNU

* The last date for applying for the Swachh Bharat Mission Grameen internship is March 20, 2023. The nomination of the applicants shall be made by the parent institutions and after the screening of the applicants they will be given an orientation before assigning them a village for carrying out the activities..

Source : AIR

Correct Answer :   Bhupender Yadav

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A two-day G20 Flower Festival is being organised at Delhi’s Connaught Place from 11th March 2023. It is aimed at highlighting the vibrancy of G20 members and guest countries.

* Union Environment Minister Bhupender Yadav inaugurated the festival 11th March 2023 which is being organised by the New Delhi Municipal Council at Central Park.

* G20 countries including Japan, Singapore, and the Netherlands are participating in it.  
 
* Flower plants of different colours and varieties are being displayed in different forms and installations to showcase the diversity of the Indian subcontinent.

* The festival is also showcasing the painting and photographs of flowers of G20 member countries and guest countries.

* The timing of the festival is from 10 AM to 7 PM and entry is free for the general public. The musical and cultural programmes are also planned at the site of the event...

Source : AIR

Correct Answer :   March 10

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India’s first woman teacher, Savitribai Phule was one of the most remarkable figures in the nation’s history. She was an Indian social reformer, poet, and educationalist who breathed her last on March 10, 1897, battling the bubonic plague and leaving behind a legacy of courage, resilience, and compassion.

Her contributions to the Indian social reform movement and the struggle for women's rights continue to inspire people today. Famously known as India’s first modern feminist, Phule was India's first female teacher. But who was she? Where was she from? Let’s have a look at her life.


Savitribai Phule Birth :  Born on January 3, 1831, in Naigaon, Maharashtra, Savitribai Phule was married at the age of nine to Jyotirao Phule, a social reformer and activist. Her husband, who was a progressive thinker, recognized the importance of education and women's empowerment in the struggle for social equality.

Savitribai Phule Education :  Savitribai Phule was the first woman in Maharashtra to receive a formal education, and she used her knowledge to educate and empower women from all walks of life. Savitribai learned reading and writing and soon started teaching girls in Maharashtra’s Maharwada, Pune. She started teaching girls with Sagunabai who was her husband’s mentor.

Correct Answer :   Rohit Jawa

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Rohit Jawa has been named as the new managing director and CEO of Hindustan Unilever with effect from June 27, 2023.

* Jawa is currently the Chief of Transformation for Unilever, London. He will be a whole-time director of the company from April 1, up to June 26, 2023.

* Jawa is currently the Chief of Transformation for Unilever in London where he has successfully orchestrated the once-in-a-decade, end-to-end transformation of Unilever, since January 2022.

* The new MD & CEO joined HUL as a management trainee in 1988 and has a proven track record of sustained business results across India, South-East Asia and North Asia.

* As EVP for North Asia & Chairman for Unilever China, Jawa led a significant transformation of Unilever China into a competitive, profitable, and consistent business, which has now become now Unilever’s third biggest globally.

* Jawa also led Unilever Philippines to become one of the top 10 markets for the company globally.

* "Rohit’s ability to integrate the strength of traditional markets with digital technologies and future-fit business models, positions him well to take HUL into its next growth phase," the company noted in his filing to the exchanges.

* Jawa will take over the reins from Sanjiv Mehta, who will step down after a 10-year tenure at the helm. Under his leadership, HUL crossed Rs 50,000 crore in revenue and the company's market capitalisation more than quadrupled to nearly $75 billion from $17 billion..

Source : CNBC

Correct Answer :   Punjab National Bank

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Punjab National Bank, nation’s public sector bank and Central Warehousing Corporation have signed a Memorandum of Understanding to facilitate financing under e-NWR (Electronic Negotiable Warehousing Receipt).

Partnership Aim : Providing easy access to finance to farmers/ food processors/ traders against the pledge of agriculture commodities stored in CWC warehouses.

General Manager, Kanwal Jit Shorey signed the agreement on behalf of Punjab National Bank and Shri Rajiv Kumar Bansal, Group General Manager (Comm.) on behalf of CWC in the presence of K.S. Rana, DGM & Shri Neeraj  Jakhmola, CM of PNB and Shri R.R. Aggarwal (GGM- Finance, CWC), Shri Amit Puri (GM Finance, CWC) & Shri Ashwin (AGM, CWC).

Agriculture is an important sector of the country’s economy and government has been focusing on increasing the income of the farmers who drive this segment. One of the main constraints in increasing farm income has been distress sale by the farmers. With a view to curbing the same, the bank has entered this new MoU..

Source : CNBC

Correct Answer :   $10 trillion

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In a country witnessing rapid growth, it comes as no surprise that India also has one of the fastest-growing fintech landscapes in the world, driven primarily by the advancement in digital payments segment.

* A recent report by PhonePe and Boston Consulting Group concluded that India’s digital payments market will more than triple from USD 3 trillion to USD 10 trillion by 2026.

* In 2015, the Indian Union government launched its Digital India programme, with one of the objectives to achieve a “faceless, paperless and cashless” status for financial transactions at grass-root level.

* In line with this, the use of digital payments continues to be promoted so that each citizen of the country can access digital payment facilities that are affordable, convenient and secure. The introduction of innovative reforms and technological advancements are further accelerating growth at an unprecedented pace.

* When one thinks digital payments, UPI – India’s payment gateway – instantly comes to mind. The Unified Payments Interface (UPI) has been the flag-bearer of India’s fintech revolution – launched in 2016 by the National Payments Corporation of India (NPCI).

* The UPI is an instant real-time payments system that enables inter-bank peer-to-peer and person-to-merchant transactions through mobile devices instantly.

* In a span of just six years, India, primarily a cash-based economy, now leads the world in real-time digital payments, accounting for almost 40 per cent of all such transactions.

* The mass adoption of UPI during the COVID-19 pandemic has extended far beyond the urban to even rural India, an effect that left the experts in amazement.

* As the success of the UPI grows, so does its attractiveness and acceptance by other countries; for instance, on February 21, 2023, India and Singapore launched cross-border connectivity between UPI and its equivalent in Singapore called PayNow, enabling low-cost and faster cross-border transactions...

Source : The Print