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Daily Current Affairs 17th January 2023: General Awareness is a very important section of every competitive examination. Current Affairs has the most weightage in the GA Section. Candidates need to have information regarding the latest current affairs to give their best in the examination. In this blog, we have briefed the daily current affairs for 17th January 2023.

Daily Current Affairs 17th January 2023

WPI inflation eases to a 22-month low of 4.95 percent in December 2022

Wholesale Price-based Inflation (WPI) for December 2022 eased to a 22-month low of 4.95 percent. According to MoCI data released, WPI inflation eased mainly due to falling in the prices of food articles. WPI inflation was 5.85 percent in November 2022 and 14.27 percent in December 2021.

WPI is in line with retail inflation data released last week which showed CPI inflation eased to 5.72 percent in December. The consumer price index (CPI)-based inflation remained within the RBI’s upper tolerance limit of six percent for the second month in a row.

The 21st edition of Naval Exercise VARUNA between India and France begins

The 21st Edition of the Bilateral Naval Exercise between India and France- Exercise VARUNA commenced on the Western Seaboard. The exercise will witness advanced air defense exercises, tactical maneuvers, surface firings, underway replenishment, and other maritime operations.

The bilateral exercise between the two navies was initiated in 1993. It was christened as ‘VARUNA’ in 2001 and has become a hallmark of India – France’s strategic bilateral relationship.

ICG ship ‘Kamla Devi’, the last vessel of the FPV series, commissioned

Indian Coast Guard (ICG) ship ‘Kamla Devi’, the Fast Patrol Vessel (FPV) designed, built, and delivered by Garden Reach Shipbuilders and Engineers (GRSE) Ltd to the Indian Coast Guard was commissioned. ICGS Kamla Devi is officially the fifth and last vessel of the series of FPVs. GRSE designed and built the ship as per the specifications of the Indian Coast Guard.

  • ‘MV Ma Lisha’, a Passenger-cum-Cargo Ocean Going Ferry built by the shipyard for the Cooperative Republic of Guyana was also flagged off.
  • This is the first such ship built for exports to a Latin American country by any Defence Public Sector shipyard.

Check the Daily Current Affairs- 11th January 2023

NTPC REL signs MoU with the Government of Tripura for collaboration in Renewable Energy Development

NTPC Renewable Energy Ltd signed an MoU with the Government of Tripura in New Delhi for the Development of Floating and Ground Mounted based Renewable Energy Projects in the State of Tripura. This MoU embarks upon the journey towards the development of large-sized Renewable Energy Projects in the State of Tripura and shall help Govt of Tripura in meeting its Clean Energy Commitments.

Indian scientist-led team first to find evidence of solitary waves in Mars magnetosphere

The Navi Mumbai-based Indian Institute of Geomagnetism (IIG), an autonomous institute of the Department of Science and Technology (DST), has identified and reported the solitary waves in the Martian magnetosphere with the help of high-resolution electric field data recorded by a Nasa spacecraft.

Siemens signs Rs 26,000-crore locomotive order with Indian Railways

Capital goods major Siemens signed a Rs 26,000-crore contract to manufacture 1,200 electric freight locomotives for the Indian Railways. It is the biggest deal in history. Deliveries are planned over an 11-year period and the contract includes 35 years of full-service maintenance. Indian Railways Factory, Gujarat will assemble the locomotives.

Statutory auditors to submit annual transparency report says NFRA

The National Financial Reporting Authority (NFRA) has issued a draft format of the Annual Transparency Report (ATR) to be submitted by auditors and audit firms every financial year. The gradual implementation of this filing will start with the statutory auditors of the top 1,000 listed companies by market capitalization on March 31.

  • Audit firms will have to provide the details of their ownership and legal, governance and management structures.
  • The transparency reports will cover the details of the revenues of the statutory auditor. It will also cover the network firm for the current and previous years.
  • This will include the statutory audit and a detailed break-up of the non-audit service fees.
  • The audit firm will have to submit details about the network it is part of, whether in India or overseas. The details include its legal, and operating structure; domicile; the nature of its activities; and services.

Paytm bank gets RBI nod to operate as Bharat Bill Payment Operating Unit

Paytm Payments Bank received final approval from the RBI to operate as a Bharat Bill Payment Operating Unit. Under Bharat Bill Payment System (BBPS), a BBPOU is allowed to facilitate bill payment services for electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, credit card bills, and taxes.

PPBL has got the final approval from RBI to operate as Bharat Bill Payment Operating Unit (BBPOU). PPPBL got approval under the Payment and Settlement Systems Act, of 2007. As an entity under (BBPS), PPBL has got the final authorization to conduct bill payment and aggregation business.

RBI’s prior approval is now a must for picking up over 5% stake in banks

The Reserve Bank of India (RBI) on Monday said any person looking to acquire more than a 5 percent stake in a bank will need prior approval from the regulator. The RBI has defined “major shareholding” as “aggregate holding” of 5 percent or more of the paid-up share capital or voting rights in a banking company by a person.

  • Following the due diligence of the entity which plans to acquire a stake in banks, the decision of the regulator to permit or deny or to permit to acquire of a lower number of shares will be binding on the applicant and the bank, the RBI said.
  • After an acquisition, if the shareholding falls below 5 percent, the person will be required to seek fresh approval from the RBI if the person intends to again raise the aggregate holding to 5 percent or more.
  • Any person from the Financial Action Task Force (FATF) non-compliant jurisdiction will not be allowed to acquire a major shareholding in a bank.

Global employment will grow by just 1% in 2023: International Labour Organization

The ILO’s World Employment and Social Outlook: Trends 2023 report, projects global employment growth to be only 1% in 2023, less than half the level in 2022. This would lead to an addition of around 3 million jobs to 208 million. ILO’s latest job forecast is lower than its previous estimate of 1.5% growth for 2023.

India’s richest 1% own more than 40% of total wealth: Oxfam

A new study by Oxfam showed that the richest 1% in India now own more than 40% of the country’s total wealth, while the bottle half of the population together share just 3% of the wealth. The rights group Oxfam International released the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting.

  • Mentioning gender inequality, the report stated that female workers earned only 63 paise for every 1 rupee a male worker earned. 
  • For Scheduled Castes and rural workers, the difference is even starker — the former earned 55 percent of what the advantaged social groups earned, and the latter earned only half of the urban earnings between 2018 and 2019, the report revealed.
  • Oxfam said the total number of billionaires in India increased from 102 in 2020 to 166 in 2022. The combined wealth of India’s 100 richest has touched USD 660 billion ( ₹54.12 lakh crore) -– an amount that could fund the entire Union Budget for more than 18 months.

Padho Pardesh scheme discontinued by MoMA

The Ministry of Minority Affairs (MoMA) has discontinued the scheme of interest subsidy on education loans for overseas studies for students belonging to minority communities (Padho Pardesh). All banks were notified by the Indian Banks’ Association last month about the discontinuation of the Padho Pardesh Interest Subsidy Scheme from 2022-23.

  • Under the scheme, interest payable by the students availing education loans as prescribed under the Education Loan Scheme of the IBA for the period of moratorium (that is course period, plus one year or six months after getting a job, whichever is earlier) shall be borne by the Government of India.
  • After the period of moratorium is over, the interest on the outstanding loan amount shall be paid by the student, in accordance with the existing Educational Loan Scheme. The Candidate will bear the Principal installments and interest beyond the moratorium period.

Startup firm IG Drones develops India’s first 5G-enabled drone

Startup firm IG Drones, which was born out of the Veer Surendra Sai University of Technology campus in Odisha’s Sambalpur has developed a 5G-enabled drone that is capable of vertical take-off and landing. Skyhawk drones will work for defense and medical applications in various sectors. The drone can carry a 10 kg payload and has an endurance of five hours.

India sets ODI world record with a 317-run win over Sri Lanka

India set a world record by defeating Sri Lanka by a mammoth 317 runs in the final match of the ODI series. After posting 390/5 in 50 overs at the Greenfield International Stadium, India bowled out the opposition for a paltry 73 in 22 overs to seal the three-match series 3-0. Mohammed Siraj was the pick of the bowlers with four wickets.

The previous best was 290 by New Zealand against Ireland in 2008. India’s victory margin of 317 runs is the largest in ODI history in terms of runs.

Cabinet approves setting up of national level Multi-state cooperative export society under Multi-State Cooperative Societies Act

The Union Cabinet, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved setting up and promoting a National Level multistate cooperative export society under the Multi-State Cooperative Societies (MSCS) Act, 2002 with support from relevant Ministries especially the Ministry of External Affairs and Department of Commerce, Ministry of Commerce and Industry.

  • The ministries through their export-related policies, schemes & agencies by following the ‘Whole of Government Approach’ for undertaking exports of all goods and services produced by cooperatives and related entities.
  • The proposed society will provide thrust to exports from the cooperative sector by acting as an umbrella organization for carrying out and promoting exports.

India, U.S. establish new trade group to bolster supply chains

India and the US have established a new working group to build sustainable supply chains and boost bilateral trade. The working group will initially focus on trade facilitation and digitization of customs procedures. They will also focus on issues related to the mobilization of sustainable finance, and scaling up innovative clean technologies.

UBI sanctions 150 Agri drone loans for Garuda Kisan Drones under Agriculture Infrastructure Fund

Drone startup Garuda Aerospace has announced its partnership with the Union Bank of India. Under this partnership, 150 Garuda Kisan Drones have received sanctions for drone loans under the Agriculture Infrastructure Fund (AIF). The drone loans will help farmers to digitize land record operations for crop production, and spraying of fertilizers, and chemicals.

Garuda Kisan Drone is the 1st to receive the Agri Drone loan in July 2022 from MoA Minister N S Tomar. Agriculture Infrastructure Fund (AIF) has about INR 1 lakh crore out of which 1000 crores have been allocated to drones. The AIF loans are collateral-free and can secure up to Rs.10 lakhs with three months of EMI relaxation. Also, 5 percent interest rate for the youth and farmers. This development will help youth to buy drones and will help them earn their livelihood.

Daily Current Affairs Quiz- 17th January 2023

Question 1. According to data released by Commerce and Industry Ministry in January 2023, Wholesale Price-based Inflation (WPI) for December 2022 was recorded at ____________.

  1. 3.95%
  2. 4.25%
  3. 4.60%
  4. 4.95%
  5. 5.45%

Question 2. The 21st Edition of the Bilateral Naval Exercise between India and France- Exercise ____________ commenced on the Western Seaboard.

  1. Varuna
  2. Sampriti
  3. Maitree
  4. Yudh Abhyas
  5. Corpat

Question 3. In January 2023, which of the following ships of the Indian Coast Guard (ICG) designed, built, and delivered by Garden Reach Shipbuilders and Engineers (GRSE) Ltd to the Indian Coast Guard was commissioned?

  1. Amit Kaur
  2. Anne Besant
  3. Priyadarshini
  4. Kamala Devi
  5. Kanaklata Barua

Question 4. In January 2023, NTPC Renewable Energy Ltd signed an MoU with the state government of which state for the Development of Floating and Ground Mounted based Renewable Energy Projects in the State?

  1. Assam
  2. Meghalaya
  3. Tripura
  4. Arunachal Pradesh
  5. Sikkim

Question 5. Indian Scientists first identified and reported the solitary waves in the magnetosphere of which planet with the help of high-resolution electric field data recorded by a Nasa spacecraft.

  1. Venus
  2. Mars
  3. Mercury
  4. Jupiter
  5. Saturn

We hope this blog gave you detailed Daily current affairs on 17th January 2023. To read more such blogs, visit the Oliveboard website!


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