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Important Current Affairs for CLAT-15th March 2023

LIC appoints Tablesh Pandey and M Jagannath as new MDs

Tablesh Pandey and M. Jagannath have been appointed as the managing directors of the Life Insurance Company (LIC).

Tablesh Pandey and M. Jagannath have been appointed as the managing directors of the Life Insurance Company (LIC). Tablesh Pandey will take over on April 1, 2023, and M. Jagannath will start working on March 13, 2023. Raj Kumar and BC Patnaik are the two managing directors that left the company this week. There are currently four managing directors at LIC.

M. Jagannath joined the LIC in 1988 as a Direct Recruit Officer. He has a wealth of marketing expertise, has held numerous significant positions, and has effectively managed sizable teams. Between 2009 and 2013, he spent 4 years as the Chief Executive Officer and Management Director of LIC (Lanka) Ltd. in Colombo, Sri Lanka. The insurance company’s executive director right now is Tablesh Pandey.

Recently, For a period of three months beginning March 14, the Center has chosen Siddhartha Mohanty as the interim chairman of the Life Insurance Company of India (LIC).

H3N2 Influenza: Signs and symptoms of severe illness to watch out for

According to the WHO, H3N2 is a variant of the common flu. Seasonal influenza is an acute respiratory infection caused by influenza viruses that circulate in all parts of the world, says WHO.

According to the World Health Organization (WHO), H3N2 is a variant of the common flu. Seasonal influenza is an acute respiratory infection caused by influenza viruses that circulate in all parts of the world, says WHO. These are classified into various subtypes. Currently circulating in humans are subtype A (H1N1) and A (H3N2) influenza viruses.

The H3N2 Influenza: Signs and symptoms:

A flu-like situation has gripped most parts of the country. Almost everyone knows someone who is suffering from fever, cough, runny nose and body ache. While flu is not uncommon at this time of the year when the weather changes from extremely cold to warm, this is not the seasonal flu warn experts.

Common symptoms of H3N2 influenza:

The flu symptoms caused by H3N2 are similar to symptoms caused by other seasonal influenza viruses. Symptoms typically appear suddenly and can include:

cough

runny or congested nose

sore throat

headache

body aches and pains

fever

chills

fatigue

diarrhea

vomiting

How does H3N2 Influenza spread:

According to the WHO, seasonal influenza spreads easily. Crowds accentuate the possibility of the spread. The spread also occurs when an infected person sneezes or coughs. Droplets coming out of the nose or mouth containing viruses are dispersed into the air and may affect people as far as a meter away and those in close proximity alike.

Diagnosis of H3N2:

The flu has some symptoms in common with other respiratory illnesses, such as the cold. This is one reason why it’s impossible to know whether a person has the flu just by observing their physical symptoms.

A healthcare professional can perform a lab test to confirm whether you have the flu or some other illness. However, if you experience flu-like symptoms during the traditional flu season (October to May), they may diagnose you with the flu even without the help of a lab test.

Vaccine for H3N2:

Each year, the annual flu vaccine protects against either three or four strains of flu. These are known as trivalent and quadrivalent vaccines, respectively. An H1N1, H3N2, and influenza B strain are included in the trivalent vaccine, while an extra influenza B strain is included in the quadrivalent vaccine.

SpaceX launches 40 OneWeb internet satellites, lands rocket

SpaceX launched a Falcon 9 rocket from Cape Canaveral Space Force Station with 40 more internet satellites for rival OneWeb.

SpaceX launched a Falcon 9 rocket from Cape Canaveral Space Force Station with 40 more internet satellites for rival OneWeb, followed by the landing of the rocket’s first stage booster back at the Florida spaceport.

More About the SpaceX launch:

The two-stage Falcon 9 lifted off from Cape Canaveral Space Force Station in Florida at 2:13 p.m. EST (1913 GMT).

The rocket’s first stage came back to Earth right on schedule, touching down on a landing pad at Cape Canaveral about 7 minutes and 50 seconds after launch.

SpaceX’s 16th Mission of the Year:

The mission, SpaceX’s 16th flight of the year overall, was the third and final planned dedicated Falcon 9 launch for OneWeb, which switched launch providers from Russia’s Soyuz rocket to SpaceX and Indian rockets last year after the Russian invasion of Ukraine. OneWeb has another reservation with SpaceX for a rideshare mission with Iridium later this year.

OneWeb launched 584 satellites:

With the 40 spacecraft mission, OneWeb has launched 584 satellites to date on 17 rockets — 13 Soyuz flights, three SpaceX Falcon 9s, and one Indian GSLV Mk.3. OneWeb has reported two failed satellites in its constellation, meaning the launch Thursday brought the tally of active OneWeb spacecraft to 582.

OneWeb and Indian GSLV Mk.3:

OneWeb also has one more launch on an Indian GSLV Mk.3 rocket scheduled later this month with 36 more internet satellites. That launch, scheduled for March 26, will put OneWeb over the 588-satellite threshold needed for global internet coverage. OneWeb plans to launch nearly 650 satellites in total for its first-generation network, including spares.

Environmental, Social & Governance Law India 2023

Environmental, Social & Governance Law India 2023: In recent years, Environmental, Social, and Governance Law India (ESG) issues have become a significant area of concern in India.

Environmental, Social & Governance Law India 2023

In recent years, Environmental, Social, and Governance Law (ESG) issues have become a significant area of concern for businesses, governments, and individuals around the world. India is no exception to this trend, with the country’s corporate sector and regulators increasingly focused on ESG-related matters. As we enter 2023, it is worth taking a closer look at the state of Environmental, Social & Governance Law India 2023 (ESG law in India) and what the future holds for this rapidly evolving area.

Environmental, Social & Governance Law India 2023: Environmental Law

Environmental law has been a key area of focus for regulators in India for decades. The country’s environmental laws cover a wide range of issues, from air and water pollution to waste management and biodiversity conservation. In recent years, there has been a growing emphasis on sustainability and climate change, with the government launching a number of initiatives aimed at reducing carbon emissions and promoting renewable energy.

One of the most significant recent developments in Indian environmental law was the introduction of the National Clean Air Programme (NCAP) in 2019.

The NCAP aims to reduce air pollution levels by 20-30% by 2024 and includes a range of measures such as strengthening monitoring and enforcement mechanisms, promoting cleaner technologies, and increasing public awareness.

Another important development was the introduction of the Plastic Waste Management Rules in 2018, which aim to reduce the use of single-use plastics and promote recycling.

These rules require manufacturers, brand owners, and importers of plastic products to take responsibility for the collection and recycling of their products.

Environmental, Social & Governance Law India 2023: Social Law

Social issues such as human rights, labor standards, and community engagement are also increasingly on the agenda of Indian regulators and businesses. India has a complex and evolving labor law regime, which includes a range of provisions related to minimum wages, working conditions, and social security.

In 2020, the government introduced new labor codes aimed at simplifying and modernizing the country’s labor laws.

These codes consolidate a number of existing laws and introduce new provisions related to social security, employment contracts, and dispute resolution.

Another important area of social law in India is corporate social responsibility (CSR).

The country’s Companies Act requires certain companies to spend a percentage of their profits on CSR activities, such as education, healthcare, and environmental sustainability.

Environmental, Social & Governance Law India 2023: Governance Law

Good corporate governance is essential for ensuring that businesses operate in a responsible and sustainable manner. In India, corporate governance is governed by a range of laws and regulations, including the Companies Act, the Securities and Exchange Board of India (SEBI) regulations, and the Listing Obligations and Disclosure Requirements (LODR) regulations.

The LODR regulations, which apply to listed companies, set out a range of requirements related to board composition, disclosure, and shareholder rights. In 2020, SEBI introduced a number of amendments to these regulations aimed at enhancing transparency and accountability.

Environmental, Social & Governance Law India 2023: Evolving Framework

ESG issues are increasingly on the radar of regulators, investors, and stakeholders in India. The country has a complex and evolving legal framework governing these issues, with a range of laws and regulations related to environmental, social, and governance matters. As we move into 2023, it is likely that ESG law in India will continue to evolve, with a growing emphasis on sustainability, climate change, and responsible business practices. Businesses operating in India will need to stay abreast of these developments and ensure that they are complying with the relevant laws and regulations.

World Consumer rights Day 2023 observed on March 15th globally

Every year on March 15, the International Consumer Rights Day is observed with the goal of promoting consumer protection and increasing global knowledge of consumer rights.

World Consumer rights Day 2023

Every year on March 15, the International Consumer Rights Day is observed with the goal of promoting consumer protection and increasing global knowledge of consumer rights. The day is also used to raise awareness of global market inequities. The yearly celebration of cooperation among the global consumer movement. On this day, consumers everywhere promote their fundamental rights, call for their protection and observance, and denounce unfair trade practises.

World Consumer rights Day 2023: Theme

World Consumer Rights Day 2023’s theme is “Empowering Consumers Through Clean Energy Transitions.” It aims to increase awareness of consumer empowerment and their responsibility to fight for a more rapid transition to renewable energy.

World Consumer rights Day 2023: Significance

The major purpose of International Consumer Rights Day is to protect consumers from unfair treatment or market exploitation that could compromise their rights. Customers are aware of their rights and how to exercise them in daily life.

World Consumer rights Day: History

The day was originally commemorated on March 15, 1983, and it was motivated by US President John F. Kennedy’s speech to the US Congress on that same day in 1962. He spoke about the subject of consumer rights, emphasised how important it was, and made history by being the first head of state to do so. On this day each year, a number of organisations, including Consumer International, commemorate the occasion by hosting activities and launching campaigns to defend consumer rights.

Consumer rights in India:

The Indian Parliament enacted the consumer protection act on December 9, 1986, giving customers more power. The act is primarily concerned with the creation of consumer councils, forums, and appellate courts for the resolution of consumer complaints.

The act embeds the following rights:

Right to be heard at an appropriate forum

Right to seek redressal in case of unfair trade practices

Right to consumer education

Right to goods and services at competitive prices

Right to be informed about the quality, potency, purity, standard and price of goods and services

Right to be protected against wrong marketing of goods and services which are hazardous to the life and property

What is Jago Grahak Jago?

Jago Grahak Jago is a consumer awareness program launched by the Department of Consumer Affairs under the Ministry of Consumer and Public Distributions by the Government of India; it started in 2005.

Uttarakhand become India’s first state to start insurance scheme for sericulturists

Ganesh Joshi, the state's agriculture minister, said that Uttarakhand launched the country's first "Resham Keet Bima" programme to safeguard its sericulturists.

India’s first state to start insurance scheme for sericulturists

Ganesh Joshi, the state’s agriculture minister, said that Uttarakhand launched the country’s first “Resham Keet Bima” programme to safeguard its sericulturists. 200 sericulturists from five blocks in four districts—Dehradun, Haridwar, Udham Singh Nagar, and Nainital—received insurance in the first phase of the pilot project, which started in Uttarakhand. This insurance protected them from the effects of climate change, water scarcity, and other dangers.

The programme has been launched as a pilot project spanning five development blocks of four districts of the state in order to safeguard farmers from loss. The department and the Agricultural Insurance Company of India have decided to accomplish this. The initiative was launched in Dehradun and is managed by Saral Krishi Beema.

The endeavour aims to promote the production of silk in the region. Over 12,000 families in the state are impacted by sericulture both directly and indirectly, and 6,000 stakeholders produce nearly 300 metric tonnes of silk fibroin there annually.

CCI clears Reliance’s 2850 Cr buy of Metro’s local business

Competition Commission of India said that it has cleared Reliance Industries Ltd's Rs 2,850 crore acquisition of the Indian business of German retailer Metro AG.

Competition Commission of India said that it has cleared Reliance Industries Ltd’s Rs 2,850 crore acquisition of the Indian business of German retailer Metro AG. The deal, announced nearly three months ago, will help Reliance strengthen its wholesale format and cement its position as the biggest player in India’s burgeoning retail industry with stores spanning electronics, groceries and fashion.

Metro’s Performance in this Financial Year:

Metro has been active in the Indian market since 2003 and reported sales of about Rs 7,700 crore for the financial year ended September 2022. It operates 31 stores in 21 cities and is mostly a supplier to restaurants and smaller businesses. The German retailer had said in its first quarter earnings statement that it sees a transaction gain in EBITDA terms of around 150 million euros ($160.49 million) from the deal.

Reliance’s Retail Expansion:

Retail Ventures Ltd (RRVL), a subsidiary of the oil-to-telecom conglomerate, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India Pvt Ltd for a total cash consideration of ₹2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India’s mammoth retail sector.

RIL is the country’s biggest brick-and-mortar retailer with over 16,600 stores, and a strong wholesale unit would further deepen its operations in India.

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