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Important Current Affairs for CLAT-25th February 2023

SS Rajamouli’s RRR wins ‘Best International Film’ award at HCA

SS Rajamouli's directorial, ‘RRR’ has bagged the ‘Best International Film’ award at the Hollywood Critics Association Film Awards.

RRR wins ‘Best International Film’ award at HCA

SS Rajamouli’s directorial, ‘RRR’ has bagged the ‘Best International Film’ award at the Hollywood Critics Association Film Awards. The film director Rajamouli and actor Ram Charan accepted the award with joy and pride. It has also won three more awards at the HCA film awards. Before bagging the ‘Best International Film’ award, ‘RRR’ won three awards at HCA – ‘Best Action Film’, ‘Best Stunts’, and ‘Best Original Song’.

Team ‘RRR’ is currently in Los Angeles and will be attending the Oscars on March 12. ‘RRR’ song ‘Naatu Naatu has been nominated for the Oscars in ‘Original Song’ category. In January this year, ‘Naatu Naatu’ won the Golden Globes in the ‘Best Original Song’ category. ‘RRR’ bagged two more awards at the 28th edition of the Critics Choice Awards.’RRR’ starring Jr NTR and Ram Charan bagged the Critics’ Choice Award for Best Song for its track ‘Naatu Naatu’. It also picked up the ‘Critics’ choice award for ‘Best Foreign language film’ in a ceremony held in Los Angeles.

About the RRR Movie:

RRR is a fictional story based on the lives of two Telugu freedom fighters, Alluri Seetharama Raju and Komaram Bheem. Ram Charan and Jr NTR played lead roles, respectively. The film collected over ₹1,200 crore worldwide. Alia Bhatt, Ajay Devgn and Shriya Saran also starred in the film.

This lyrical composition of ‘Naatu Naatu’ by MM Keeravani, high energy rendition by singers Rahul Sipligunj and Kaala Bhairava, unique choreography by Prem Rakshith, and lyrics by Chandrabose are all the elements that make this ‘RRR’ mass anthem a perfect dance craze.

Kerala becomes first state to use robotic scavengers to clean manholes

The Kerala government has launched robotic scavenger, "Bandicoot", to clean sewages in the temple town of Guruvayur, becoming the first state in the country to use robotic technology to clean all its

Robotic scavenger, “Bandicoot”

The Kerala government has launched robotic scavenger, “Bandicoot”, to clean sewages in the temple town of Guruvayur, becoming the first state in the country to use robotic technology to clean all its commissioned manholes. Water Resources Minister, Roshi Augustine, launched Bandicoot under the Guruvayur Sewerage Project in Thrissur district by the Kerala Water Authority (KWA), as part of the 100-day action plan of the state government.

The robotic Tron Unit, which is the major component of Bandicoot, enters the manhole and removes sewage using robotic hands, similar to a man’s limbs, the release, adding that the machine has waterproof, HD vision cameras and sensors that can detect harmful gases inside the manholes.

About the Bandicoot robotic scavenger

Bandicoot, developed by Kerala-based Genrobotics, had recently bagged ‘Kerala Pride’ award at the Huddle Global 2022 conclave organised by Kerala Startup Mission (KSUM).

Bandicoot robots are currently deployed in few towns across 17 states in India and three Union Territories. In 2018, KWA started using Bandicoot to clean the manholes in Thiruvananthapuram. Later, it was introduced in Ernakulam also, the release said.

Genrobotics, a Technopark-based company, have developed “the world’s first robotic scavenger” Bandicoot in an effort to eliminate manual scavenging providing respite for workers engaged in manhole cleaning.

Bill Gates Buys Stake in Heineken for $902 Million

Bill Gates has acquired a minority stake in Heineken Holding NV, the controlling shareholder of the world’s second-largest brewer, for about $902 million.

Bill Gates has acquired a minority stake in Heineken Holding NV, the controlling shareholder of the world’s second-largest brewer, for about $902 million. The Microsoft founder and philanthropist picked up 3.8% of Heineken Holding, according to a filing by the Dutch regulator AFM. He bought 6.65 million shares in Heineken Holding, in his individual capacity, and another 4.18 million shares through the Bill & Melinda Gates Foundation Trust.

More About This Development:

The shares are valued at €848.2 million ($902 million), according to Bloomberg calculations at closing share price value of February 17. Gates acquired the stake on the same day that Fomento Economico Mexicano SAB launched a €3.7 billion stock and equity-linked sale for part of its holdings in Heineken.

Big Investments In Heineken:

Femsa, as the Mexican Coca-Cola bottler and convenience store operator is known, announced plans to offload its stake in Heineken after a strategic review. Femsa said its accelerated bookbuild offering of €1.9 billion in shares in Heineken NV priced at €91 apiece, and €1.3 billion in shares in Heineken Holding sold at €75 each. Heineken Holding controls 50% of Heineken NV, maker of the namesake beer as well as Amstel, Moretti, and Sol among others.

Investment by Bill & Melinda Gates Foundation Trust:

The Bill & Melinda Gates Foundation Trust foundation has also invested in Dutch online grocer Picnic BV and holds a 1.34% stake in Dutch fertilizer producer OCI NV. The foundation has long been a powerhouse in the nonprofit world, employing almost 1,800 people and spending nearly $80 billion since 2000.

Pakistan receives $700 mln funds from China

Pakistan's Finance Minister Ishaq Dar said his country has received $700 million funds from the China Development Bank.

Pakistan’s Finance Minister Ishaq Dar said his country has received $700 million funds from the China Development Bank. The deposit comes as Pakistan has been struggling with its external debt and has barely enough dollars to cover less than three weeks’ worth of imports. Finance Minister Ishaq Dar referred to the deposit as a “lifeline” for Pakistan.

Significance of This Deposit by China to Pak:

The loan will bolster the country’s diminishing foreign exchange reserves, and the money is expected to arrive at the State Bank of Pakistan this week.

The coalition government has been trying to increase the country’s foreign exchange reserves, which currently stand at $3.25 billion as of February 17.

However, the delay in the revival of the $6.5 billion International Monetary Fund (IMF) programme has made it difficult for the government to achieve this goal.

Refinancing of Loans by Pakistan:

Pakistan is also looking to refinance two more commercial loans worth $500 million and $800 million. In total, Pakistan is aiming to refinance Chinese loans up to $2 billion by the end of February or the first week of March 2023.

This deposit from China is expected to ease some of the pressure on Pakistan’s economy, which has been struggling due to the pandemic and external debt.

Pakistan’s Total Debt:

Pakistan’s external debt servicing obligation for the ongoing fiscal year 2022-23 is $23 billion, of which $6 billion has been repaid and $4 billion rolled over, leaving $13 billion yet to be funded. The country also has further repayment obligations of $75 billion during FY24-26.

Assets totaling Rs 26,000 crore monetized in FY23: NITI Aayog

Assets totaling Rs 26,000 crore monetized in FY23: The government has generated assets worth 26,000 crore during FY23, and a pipeline of proposals totaling 1.23 lakh crore is now being processed.

Assets totaling Rs 26,000 crore monetized in FY23

The government has generated assets worth 26,000 crore during FY23, and a pipeline of proposals totaling 1.23 lakh crore is now being processed at various levels. This is in contrast to the aim of 1.6 lakh crore for the current fiscal year.

Assets totaling Rs 26,000 crore monetized in FY23: Key Points

With 88,000 crore realised in FY22, the overall monetisation value realised in FY22 and FY23 is now 1.14 lakh crore, or 19% of the 6 lakh crore target established under the National Monetisation Pipeline over a four-year period (FY22–25).

The objective set for FY22 (Rs 88,000 crores), according to the NITI Aayog, was met, and the pipeline of proposals totaling Rs 1.4 lakh crore are currently being processed by the relevant ministries.

A total target of Rs 1,62,422 crores was planned for FY23, of which transactions with accrual and/or investment values of Rs 26,000 crores have been accomplished and proposals totaling Rs 1.23 lakh crore are now being processed at various stages.

World Bank announces $2.5 billion in additional Ukraine aid on war anniversary

The World Bank announced $2.5 billion in additional grant financing from the U.S. Agency for International Development (USAID) to support Ukraine's budget and maintain essential services.

The World Bank announced $2.5 billion in additional grant financing from the U.S. Agency for International Development (USAID ) to support Ukraine’s budget and maintain essential services.

More About The World bank Expenditure in Ukraine:

The latest financing under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine(PEACE) project lifts the total to $20.6 billion and will support salaries in core government functions and sectors such as healthcare and education while allowing Kyiv to pay pensions and support internally displaced people.

One year into Russia’s invasion of Ukraine, the world continues to witness the horrific destruction inflicted on the country and its people,” said World Bank Group President David Malpass. He said that $18.5 billion of the total funds mobilized had been disbursed, reaching more than 12 million Ukrainians.

US Backed Funding For Ukraine:

The additional funding was announced a day after U.S. Treasury Secretary Janet Yellen said that Washington was preparing an additional $10 billion in economic assistance for Ukraine and called on the International Monetary Fund to pull together a loan programme for Ukraine. Ukraine is seeking a $15 billion multi-year IMF package.

The World Bank-facilitated financing under the PEACE program is set up to minimize the risk of corruption. The World Bank transmits funds to cover Ukraine’s expenditures a month after they are made, once it has verified that the money has gone to the government employees, pensioners and other recipients.

Countries that are financing Ukraine:

The latest USAID funds will be transmitted to the government of Ukraine after the World Bank verifies eligible expenditures. The total of $20.6 billion in emergency financing comes from commitments and pledges from, the United States, Britain, the Netherlands, Spain, Norway, Germany, Canada, Switzerland, Sweden, Denmark, Austria, Finland, Ireland, Lithuania, Latvia, Iceland, Belgium, and Japan.

India ranked 7th biggest nation ready to adopt crypto in 2023

According to HedgewithCrypto research, India emerged as 7th biggest nation ready to adopt crypto in 2023. 

According to HedgewithCrypto research, India emerged as 7th biggest nation ready to adopt crypto in 2023. Australia is the biggest country when it comes to the adoption of cryptocurrency in 2023 with a score of 7.37 out of 10. The sale of cryptocurrency and other digital assets is legal and regulated in Australia. Following this, USA ranks as the second biggest country in crypto adoption with a score of 7.07 out of 10. Currently, there 33,630 crypto ATMs throughout the country.

Ranking wise, Brazil comes third with a score of 6.81/10 and has seen a huge increase in average monthly searches for crypto of 355%. A new bill signed in December 2022 legalizes cryptocurrency throughout Brazil.

CAG GC Murmu selected as external auditor of International Labour Organization

CAG GC Murmu selected as external auditor of ILO: The International Labour Organization has chosen the CAG of India to serve as its external auditor for a four-year term from 2024 to 2027.

CAG GC Murmu selected as external auditor of ILO

The International Labour Organization (ILO), Geneva has chosen the Comptroller and Auditor General of India (CAG) to serve as its external auditor for a four-year term from 2024 to 2027, the apex auditor announced. The CAG is Girish Chandra Murmu.

CAG GC Murmu selected as external auditor of ILO: Key Points

The Supreme Audit Institute of the Philippines, the current external auditor of ILO, will be replaced by CAG.

The CAG provided specifics, stating that ILO had established a panel for the nomination of an external auditor and had requested proposals from the Superior Audit Institutions (SAIs).

The ILO selected three Supreme Audit Institutions (India, Canada, and United Kingdom) for technical presentations based on their technical expertise and other factors.

A three-person team from CAG of India presented their strengths, methodology, and skill set to the ILO’s tripartite selection panel in Geneva, along with their extensive expertise auditing international organisations.

The CAG’s strategy for creating a strategic partnership with ILO, through which it seeks to support ILO in achieving its goals while retaining crucial independence and oversight in carrying out the duties of the external auditor, impressed the selection panel.

The World Health Organization (2020-2023), Food and Agriculture Organization (2020-2025), International Atomic Energy Agency (2022-2027), Organization for the Prohibition of Chemical Weapons (2021-2023), and Inter Parliamentary Union are currently being externally audited by the Comptroller and Auditor General of India (2020-2022).

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