Daily Current Affairs for Competitive Examinations: February 28, 2023
This article covers the GK and Daily Current Affairs Quiz with MCQs on National Affairs, International Affairs, Economy, Banking Affairs, Polity, Geography, Environment, Sports, etc. for competitive examinations viz. UPSC, SSC, Bank PO, Bank Clerk, IBPS, Railways, Government Jobs, UPPSC, MPSC, and other state exams. This current affairs quiz will help you in the General Awareness section conducted in various Banking, SSC, Insurance, Railways, and other govt job entrance exams. The current affairs quiz will also help you outshine the crowd with all the information you gain from this article.
Current Affairs: Defence
IAF to participate in multi-national exercise ‘Cobra Warrior’ in the UK
Recently, an Indian Air Force contingent comprising 145 Air Warriors departed the Air Force Station Jamnagar to participate in Exercise Cobra Warrior at the Waddington Air Force Base in the United Kingdom.
The exercise is scheduled from 6th to 24th March this year.
What is Exercise Cobra Warrior?
Exercise Cobra Warrior is a multilateral Air exercise in which Air Forces from Finland, Sweden, South Africa, the United States of America and Singapore would also be participating alongside the Royal Air Force and Indian Air Force.
This year IAF is participating in the exercise with five Mirage 2000 fighters, two C-17 Globemaster and an IL-78 mid-air refuelling aircraft.
Aim of Exercise:
The exercise is aimed at providing operational exposure and sharing best practices amongst the participating Air Forces, thereby enhancing combat capability and forging bonds of friendship.
Facts:
Indian Air Force is the fourth largest in the world after the USA, China, and Russia.
IAF, or the Bharatiya Vayu Sena, was initially established as an auxiliary air force unit of the Royal Air Force of Britain.
The title Royal was given to the air force in honour of India’s aviation service during world war II.
The name Royal Air Force was kept until India had dominion status.
As the government transitioned to a republic in 1950, the prefix Royal was removed.
The President of India holds the rank of supreme commander or Commander-in-chief of the IAF.
The motto of the IAF is ‘Nabhah Sparsham Diptam’, which is taken from the Bhagavad Gita and means ‘Touch the sky with glory’.
Question: 1
According to the recent announcement, the Indian Air Force contingent will participate in the exercise Cobra Warrior that will be held in which of the following countries?
A. USA
B. UK
C. Singapore
D. India
Answer: B
Check out the Highlights of the Economic Survey 2022-23 by clicking on the link given below: Economic Survey 2022-23
Current Affairs: National
MP’s Bhopal gets state’s first women and child-friendly police station
Madhya Pradesh’s first women and child-friendly police station is being set up in Jahangirabad, Bhopal.
The newly designed police station has all the basic requirements, such as a waiting room, reception window, feeding room and place for children.
The police station is, however, yet to be inaugurated.
The police station building has been re-designed from the victims and the visitors’ convenience point of view.
Amenities associated with the police station:
Visiting rooms
Lunch rooms
Separate Toilets for males and females
Shed, garden, and platform
Anti-trafficking room
Victim’s visitors’ room
Question: 2
Which of the following states is setting up its first women and child-friendly police station?
A. Assam
B. Kerala
C. Madhya Pradesh
D. Himachal Pradesh
Answer: C
Current Affairs: National
Kerala becomes the first state to use robotic scavengers to clean manholes
The Kerala government recently launched a robotic scavenger, Bandicoot, to clean sewages in this temple town, becoming the first state in the country to use robotic technology to clean all its commissioned manholes.
About Bandicoot:
Bandicoot, developed by Kerala-based Genrobotics, is already in use in urban bodies across the country, phasing out the practice of sanitation workers physically entering the manholes.
Genrobotics has recently bagged the ‘Kerala Pride’ award at the Huddle Global 2022 conclave organised by the Kerala Startup Mission.
Objectives and functioning:
Bandicoot, “the world’s first robotic Scavenger”, was developed by Genrobotics in order to eliminate manual scavenging providing respite for workers engaged in manhole cleaning.
The major component of Bandicoot, i.e., the robotic Tron Unit, enters the manhole and removes sewage using robotic hands.
As per the company, this machine is waterproof and also has HD vision cameras and sensors that can detect harmful gases inside the manholes.
Question: 3
What is a Bandicoot that has recently been heard in the news?
A. Robotic scavenger
B. A spy camera for paralysed persons
C. New species of flower discovered in Kerala
D. Newly developed water-detecting equipment
Answer: A
Current Affairs: International
The Danish Crown Prince and Princess arrive in India for a four-day visit
Denmark’s Crown Prince Frederik André Henrik Christian and Crown Princess Mary Elizabeth arrived in India recently on a four-day visit.
It is the first visit to India from the Danish Royal family in two decades.
The two are visiting India at the invitation of Vice President Jagdeep Dhankhar, according to the Ministry of External Affairs (MEA).
Engagement during the visit:
Both are accompanied by Foreign Minister Lars Løkke Rasmussen, Environment Minister Magnus Heunicke and Minister for Climate, Energy and Utilities Lars Aagaard.
During the visit, His Royal Highness the Crown Prince will meet the Vice President and address the India-Denmark: Partners for Green and Sustainable Progress opening session.
Both will also travel to Agra and Chennai.
The Danish prince and princess will travel back on 2 March from Chennai.
Question: 4
Which of the following nations’ crown princes recently arrived in India, the first in two decades, for a four-day visit?
A. UAE
B. Qatar
C. Brunei
D. Denmark
Answer: D
Current Affairs: Index and Rankings
India ranks 42 among 55 countries on the International IP Index
India ranks 42nd among 55 leading global economies on the International IP Index released by the U.S. Chambers of Commerce, according to which India is ripe to become a leader for emerging markets seeking to transform their economy through IP-driven innovation.
India has not only generous R&D and IP-based tax incentives but also has strong awareness-raising efforts regarding the negative impact of piracy and counterfeiting.
It is a global leader in targeted administrative incentives for creating and using IP assets for SMEs.
What is International IP Index:
The Index evaluates intellectual property rights across 55 global economies — from patent and copyright policies to commercialising IP assets and ratifying international treaties.
The United States earned the top score again, and 45 economies improved their overall score.
According to the U.S. Department of Commerce: IP continues to be a massive economic driver for jobs and investment.
Key Findings:
The global IP environment has improved over the last decade. Challenges remain as many economies still receive low grades on their protection of intellectual property rights.
New tools to combat IP infringement online helped strengthen protection for IP owners. However, many economies have historically struggled to provide adequate copyright protection as the growth and scale of online piracy have increased over the last decade.
Enforcement against physical IP-infringing goods has failed to keep pace with the increase in the volume of international trade in counterfeits over the last ten years.
IP-intensive goods and services were critical to the global response to COVID-19.
Despite the critical role IP played in response to the pandemic, some World Trade Organization (WTO) members continued to push a proposal to “waive” international IP commitments.
US Chambers of Commerce:
Founded: 22 April 1912
Northwest Washington, Washington, DC, United States
Founder: Charles Nagel
CEO: Suzanne P. Clark
Question: 1
What is India’s rank among 55 leading global economies on the International IP Index released recently by the U.S. Chambers of Commerce?
A. 21st
B. 34th
C. 42nd
D. 50th
Answer: C
Check out the Highlights of Union Budget 2023 by clicking on the link given below: Union Budget 2023-24
Current Affairs: Economy
IMF rolls out nine-point crypto assets action plan, advises against the legal tender status
The International Monetary Fund (IMF) has recently laid out a nine-point action plan for how countries should treat crypto assets, with point number one a plea not to give cryptocurrencies such as bitcoin legal tender status.
Details:
IMF plan provides guidance for an appropriate policy response to crypto assets and operationalises principles outlined in Bali Fintech Agenda.
Agenda was launched by the IMF and World Bank in 2018 to harness opportunities for rapid advances in financial technology.
Cryptocurrency is a type of digital currency (For ex: Bitcoin, Ethereum) that uses cryptography for security and anticounterfeiting measures.
Control of each cryptocurrency works through distributed ledger technology called a blockchain.
What is IMF’S nine-point ACTION PLAN?
Do not grant crypto assets official currency or legal tender status.
Maintain the effectiveness of capital flow management measures.
Adopt unambiguous tax treatment of crypto assets. Establish legal certainty of crypto assets.
Enforce oversight requirements for all crypto market actors.
Joint monitoring framework across different domestic agencies and authorities.
Establish international collaborative arrangements.
Monitor the impact of crypto assets on the stability of the international monetary system. Strengthen global cooperation to develop digital infrastructures for cross-border payments and finance.
Status of cryptocurrency in India:
Currently, cryptocurrencies are not regulated in India.
In 2020, the Supreme Court declared an RBI circular (that prevented banks from dealing in cryptocurrencies) as unconstitutional.
In Budget 2022-23, the government proposed to levy a tax of 30% on the transfer of virtual assets, including NFTs and cryptocurrencies.
The government also floated the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, to facilitate a framework for the creation of official digital currency and to prohibit all private cryptocurrencies in India.
Factbook: 27-February-2023
Poudel is set to become Nepal’s next president
The Nepali Congress’ senior leader Ram Chandra Poudel is set to become Nepal’s next president after eight political parties endorsed him, including the CPN-Maoist Centre of Prime Minister Prachanda, who sidelined his coalition partner K P Sharma Oli’s nominee to support his candidacy.
Poudel will vie against CPN-UML’s Subas Nembang in the 9 March presidential election, which may change the power equation in the Himalayan nation.
Poudel, 78, and Nemwang, 69, filed their candidacies recently. Poudel filed the nomination papers with the backing of eight political parties—Nepali Congress, CPN- Maoist Centre of Prime Minister Prachanda, CPN-Unified Socialist, Rastriya Janata Party, Loktantrik Samajwadi Party, Rastriya Janamorcha, Nagarik Unmukti Party and Janamat Party.
Centre approves name change for Aurangabad, Osmanabad
The Centre has recently approved renaming two Maharashtra cities—Aurangabad and Osmanabad.
Aurangabad will now be renamed as `Chhatrapati Sambhaji Nagar’ while Osmanabad will be called `Dharashiv’.
Aurangabad derives its name from the Mughal emperor Aurangzeb, while Osmanabad was named for a 20th-century ruler of the princely state of Hyderabad.
Chhatrapati Sambhaji, who was the eldest son of warrior king Chhatrapati Shivaji Maharaj, was the second ruler of the Maratha state founded by his father. Sambhaji Maharaj was executed on Aurangzeb’s orders in 1689.
Dharashiv, the name of a cave complex near Osmanabad, dates back to the 8th century, as per some scholars.
Maharashtra govt to develop Veer Savarkar Garden, theme park, museum in Nashik
On the occasion of the death anniversary of Veer Savarkar, the Maharashtra Tourism Development Corporation has recently proposed to develop the Veer Savarkar Garden, Theme Park, and Museum with their funds.
He was adom fighter, politician, activist, and writer. Savarkar developed the Hindu nationalist political ideology of Hindutva while imprisoned at Ratnagiri.
Born 28 May 1883 in Bhagur, Nashik District.
Death 26 February 1966 at Bombay.
Due to the death anniversary of Vinayak Damodar Savarkar, the government has announced this project. The government will launch the Savarkar tourism circuit dedicated to the revolutionarydom fighter and Hindutva icon, ‘Swatantryaveer’ Vinayak Damodar Savarkar.
UNGA resolution on Ukraine war
India abstained on a UN resolution underscoring the need for just, lasting peace in Ukraine.
India questioned the effectiveness of the UN and Security Council in tackling contemporary challenges.
Resolutions adopted by UNGA on agenda items are considered to be recommendations and are not legally binding on the Member States.
Only resolutions that have the potential to be legally binding are those that are adopted by the Security Council.
National Stock Exchange launched India’s first municipal bond index- IBMX
National Stock Exchange (NSE) launched India’s first municipal bond index- IBMX- to track the performance of bonds issued by municipal corporations.
The Municipal bond market has seen a three-fold rise in fundraising since 2017 (from ₹2,342 crore in 2017 to ₹6,252 crore in 2022)
The index will have 28 municipal bonds, which were issued by ten issuers. Bonds in the index have a credit rating of the AA category.
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