16 March 2023 : Latest Current Affairs 16th March
Important Current Affairs 16th March 2023
In this article, we will discuss all the Current Affairs of 16th March including national, international, banking, finance, sports, awards, and many others. So if you are interested to know about the latest 16th March 2023 current affairs then read this article till the end.
Current Affairs of 16th March – National News
1. In Varanasi, India will host the SCO Tourism Ministers’ Meeting.
◉ On March 17 and 18, India will host the Shanghai Cooperation Organization (SCO) Tourism Ministers’ Conference in Kashi (Varanasi), which has been named the organization’s first cultural capital.
◉ India currently serves as the Shanghai Cooperation Organization’s chair (SCO).
◉ A collaborative action plan on the growth of cooperation in tourism among SCO member nations will be adopted during the Tourism Ministers’ (TMM) conference, according to a release from the Ministry of Tourism.
◉ Before it is approved at the SCO Tourism Ministers’ meeting, the dignitaries will discuss and finalize a common action plan during the meeting.
◉ Almost 42% of the world’s population and 25% of the world’s GDP are represented by the eight SCO members (GDP).
2. Inauguration of the third Divya Kala Mela in Bhopal, Madhya Pradesh
◉ The third Divya Kala Mela in Bhopal has been officially opened by Madhya Pradesh Governor Mangubhai Patel.
◉ In order to ensure that people with disabilities can participate equally in this process, the government is working to achieve holistic and all-around development.
◉ The fair features goods from all throughout the nation, including gastronomic items.
◉ This art fair, which is put on by the Ministry of Social Justice and Empowerment, will last through March 21, 2023.
3. In Amritsar, the second meeting of the G20’s Education Working Group gets underway.
◉ In Amritsar, Punjab, the Ministry of Education is conducting the second meeting of the Education Working Group.
◉ The three-day conference, which includes seminars, an exhibition, and working group meetings, will feature participation from 28 G20 member countries, guest countries, and invited organizations (OECD, UNESCO, and UNICEF).
◉ At Khalsa College, IIT Ropar will host a seminar on “Strengthening research and boosting innovation through rich collaborations” in association with IISc Bengaluru, IIM Amritsar, and TISS Mumbai.
◉ On February 1 and 2, Chennai hosted the G20 Education Working Group’s (G20 EWG) 2023 first meeting.
4. The SCO Youth Council’s 16th meeting was opened by Anurag Thakur.
◉ India presided over the hybrid format 16th meeting of the Shanghai Cooperation Organization (SCO) Youth Council in New Delhi.
◉ Anurag Singh Thakur, minister of youth affairs and sports, officially opened the SCO Youth Council meeting.
◉ The SCO Member States discussed the activities of the SCO Youth Council in 2022–2023 during the meeting.
◉ They took note of the youth delegates from the SCO member states’ active engagement and a keen interest in the conference’s discussions.
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International News
5. According to the SIPRI Report 2023, India is the world’s top importer of weapons.
◉ The Stockholm International Peace Research Institute (SIPRI) 2023 research predicts that in 2022, India would overtake the United States as the world’s top importer of weapons.
◉ From 2018 to 2022, India continued to be the world’s top importer of weapons, followed by Saudi Arabia.
◉ This research states that India’s imports of arms fell by 11% between the years 2013–17 and 2018–22.
◉ The largest weaponry supplier to India from 2013–17 and 2018–22 was Russia. Yet, Russia’s proportion of India’s purchases of armaments dropped from 64 to 45%.
While the US and France are now India’s top two arms suppliers, respectively.
Banking
6. RBI permitted banks from 18 nations to transact in rupees.
◉ Banks from 18 different nations are now able to open Special Vostro Rupee Accounts (SVRAs) with the Reserve Bank of India (RBI) in order to settle payments in rupees.
◉ Botswana, Fiji, Germany, Guyana, Israel, Kenya, Malaysia, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and the United Kingdom are among these 18 countries.
7. In February, wholesale inflation reached a two-year low of 3.85%.
◉ Compared to the 4.73% recorded in January 2023, wholesale price-based inflation (WPI) has decreased to a two-year low of 3.85% in February 2023.
◉ The prices of food, electronics, chemicals, crude oil, and electrical equipment will all decline as a result of it.
◉ Fuel and power prices increased 14.82 percent in February compared to a 15.15 percent increase in January of this year, and the food index was 2.76 percent as opposed to 2.95 percent the month before.
Appointment
8. Tablesh Pandey and M Jagannath were recruited as new MDs by LIC.
◉ The Life Insurance Company has selected Tablesh Pandey and M. Jagannath as its managing directors (LIC).
◉ M. Jagannath began working on March 13, 2023, and Tablesh Pandey will take over on April 1, 2023.
◉ The two managing directors who quit the business last week were Raj Kumar and BC Patnaik. LIC currently has four managing directors.
◉ Tablesh Pandey is an Executive Director at the Central office of LIC in Mumbai, and Jagannath served as the Zonal Manager of the South Central Zone in Hyderabad.
Awards
9. Central Banking awarded Shaktikanta Das the RBI “Governor of the Year”
◉ An international magazine of economic study called Central Banking has named Shaktikanta Das, governor of the Reserve Bank of India, “Governor of the Year” for 2023.
◉ The journal praised Das for his unwavering leadership amid challenging times, including the loss of a key non-banking enterprise, the first and second waves of the COVID-19 epidemic, and the inflationary consequences of Russia’s invasion of Ukraine.
◉ A governor of the Indian central bank has won this honor twice before; the first time was Raghuram Rajan in 2015.
Science
10. ‘GPT-4’ was launched by OpenAl with more accuracy.
◉ The updated and improved model, GPT-4, has been unveiled by OpenAI, the artificial intelligence research organization that created ChatGPT.
◉ The most recent version has superior problem-solving skills compared to ChatGPT and is more imaginative and accurate in its responses.
◉ GPT-4 is a “large multimodal model,” according to OpenAI, that can achieve “human-level performance on several professional and academic standards,” but cannot compete with humans in real-world situations.
Important day
11. International Consumer Rights Day is on March 15th.
◉ International Consumer Rights Day is celebrated annually on March 15.
◉ The goal is to promote consumer protection and increase understanding of consumer rights.
◉ Helping Consumers Through Clean Energy Transitions is the theme for 2023.
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