Current Affairs Quiz - February, 2023

Notes:
A report titled ‘LiFE lessons from India’ was recently released by the International Energy Agency (IEA).
As per the report, the ‘Lifestyle for Environment’ or LiFE initiative of India for the adoption of energy-efficient behaviour can save the world USD 440 billion in 2030. As per the report, the saving would be equivalent to around 5% of all fuel spending across the global economy in that year.

Notes:
‘World Pulses Day’ is observed on February 10 to raise global awareness about the importance of pulses as a stable global food source that delivers nutritional and environmental security across the world.
The theme for World Pulses Day 2023 is ‘Pulses for a Sustainable Future’.

Notes:
The Monetary Policy Committee (MPC) of the Reserve Bank of India hiked the key policy rate, the Repo rate by 25 basis points to 6.50 per cent in a bid to control the retail inflation.
The RBI has increased the repo rate by a cumulative 250 basis points to 6.50 per cent since May this year. The RBI has projected GDP growth for the next fiscal (FY2024) at 6.4 per cent.

Notes:
US Federal Reserve, the country’s central bank recently introduced Wall Street bank stress-test scenarios.
The central bank will examine the ability of the 23 biggest US lenders to withstand crisis conditions without degrading their capital. For the first time, the so-called stress test will feature an ‘exploratory market shock’ to the trading books of the largest and most complex banks.

Notes:
Nigeria has recently announced demonetization to address corruption and bring down inflation. Its purpose is to bring back most of the money that is in circulation outside the banking system and to minimize money laundering.
Nigerians are required to turn in their old 1,000, 500 and 200 naira banknotes as part of this initiative in return for new naira notes. With the African country being largely dependent on cash, the shortage of new naira notes is causing chaos in Nigeria.

Notes:
India has planned to launch a global initiative called the Millet International Initiative for Research and Awareness (MIIRA) to promote the consumption and production of millets.
MIIRA will coordinate international millet research programs and support research on millet crops. This global initiative will also raise awareness and promote millet consumption. India will provide the initial funding, while other G20 countries will contribute to the budget.

Notes:
The TARKASH exercise is a joint bilateral exercise between India’s National Security Guard (NSG) and US Special Operations Forces (SOF).
The sixth edition of this exercise is being held in Chennai from January 16 to February 14. This is the first time that the ‘Chemical, Biological, Radiological and Nuclear (CBRN) terror response’ is included in TARKASH.

Notes:
The Indian government announced that retail inflation increased to 6.52% in January from 5.72% in December 2022, mainly due to the rise in food prices.
Retail inflation is measured by the Consumer Price Index (CPI). The Reserve Bank of India’s household survey on inflation expectations forecasts that retail inflation will remain elevated in the next year due to a general increase in prices across different sectors.

Notes:
Sangam age was believed to be between 300 BCE to 300 CE. As per the recent findings by the Archaeological Survey of India at Keeladi, the Sangam age has been pushed to 800 BCE.
Keeldai is a small village along the Vaigai River, about 13 km from Madurai, Tamil Nadu. The eport is based on the archaeological findings from the first two phases of excavation carried out by the Archaeological Survey of India.

Notes:
NASA’s James Webb Space Telescope team has been selected to receive the ‘2023 John L. Jack Swigert, Jr.’ Award for Space Exploration.
It is a prestigious award from the Space Foundation. This annual award honors a space agency, company, or consortium of organizations in the realm of space exploration and discovery.