Moody's Investors Service on March 1 raised India's economic growth estimate for 2023 to 5.5 per cent from 4.8 per cent pegged earlier, on the back of a sharp increase in capital expenditure in the Budget and a resilient economic momentum.

It however revised downwards India's growth estimate for 2022 to 6.8 per cent from 7 per cent pegged in November last year.

Still, Moody's expects global growth to continue to slow in 2023, with increasing drag from cumulative monetary policy tightening on economic activity and employment in most major economies.

For China, Moody's estimated GDP growth at 5 per cent in 2023, up from 3 per cent in 2022.

Cooking gas LPG price on  Mar 1 was hiked by Rs 50 per cylinder -- the first increase in rates in almost eight months -- that came within days of end of polling in three northeastern states and was sharply criticised by the Opposition.

A 14.2-kg LPG cylinder in Delhi now costs Rs 1,103, up from Rs 1,053.

State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) said Rs 1,103 was the rate for a 14.2-kg non-subsidised LPG cylinder.

The government doesn't pay any subsidy to most non-Ujjwala users and this is the rate that they will have to pay for buying cooking gas refills.

The government pays Rs 200 per cylinder subsidy to the 9.58 crore poor who got free LPG connection under the Pradhan Mantri Ujjwala Yojana.

The effective price for them would be Rs 903 per cylinder.

Separately, ATF price was cut by 4 per cent in line with softening international rates of the fuel. Accordingly, jet fuel rates were reduced by Rs 4,606.50 per kilolitre to Rs 1,07,750.27 per kl in Delhi.

ATF price is revised on the 1st of every month based on the average rate of international benchmark and foreign exchange rates.

Petrol and diesel prices, however, continued to remain on freeze for a record 11th month in a row. Petrol costs Rs 96.72 per litre in the national capital and diesel comes for Rs 89.62.

With Axis Bank expected to complete the deal to acquire Citibank India’s consumer business on Mar 1 , thousands of Citi’s customers in the country will become part of Axis Bank. In March last year, Axis Bank had announced to buy Citibank’s consumer business in India for Rs 12,325 crore ($1.6 billion) in cash. The consumer business of Citibank, which started operations in India in 1902, includes loans, credit cards, wealth management and retail banking operations.

The conclusion of deal means Citibank branches and ATMs will be re-branded as Axis Bank branches and ATMs. However, for Citibank customers, nothing much will change as their account number, fees, charges, and services will remain same. 

Jasprit Bumrah's wait to play competitive cricket may continue further as the 29-year-old Gujarat pacer is expected to miss the entire IPL 2023 after failing to recover fully from a back injury, which ruled him out of the T20 World Cup last year.

He may also miss the World Test Championship (WTC) final, if India qualify, which starts on June 7 at The Oval, London.

In his own words, life has come full circle for Sachin Tendulkar, who is set to be honoured with a life-size statue at the Wankhede Stadium, the place where it all began for him.

The cricket icon's journey started here under childhood coach Ramakant Achrekar, and it was at this very venue that he won the World Cup with India in 2011.

He also bid adieu to cricket at the same ground, by playing in his landmark 200th Test against the West Indies in 2013.

The statue is expected to be unveiled when he turns 50 on April 24.

Real Madrid defender David Alaba was racially abused on social media after voting for Lionel Messi, and Croatia coach Zlatko Dalić accused FIFA of disrespect on Feb 28 in the fallout from the soccer body’s annual awards ceremony.

Messi was named the best men’s player on Feb 27 after leading Argentina to last year's World Cup title in Qatar, with Real Madrid forward Karim Benzema in third place after a standout season helping Madrid to another Champions League title.

The awards were decided by a poll of national team captains and coaches, selected media and fans voting online from candidate lists decided by FIFA-appointed expert panels.

Alaba’s vote as captain of Austria's national team — placing Messi first, Madrid teammate Benzema second and Kylian Mbappé, the eventual runner-up, in third — was among the results published by FIFA after the ceremony in Paris.

Q1. Name the India’s largest commercial bank which  on Feb 28 has announced the completion of a $1 billion Syndicated Social Loan Facility?

1. State Bank of India
2. Bank of Baroda
3. Punjab National Bank
4. Reserve Bank of India
5. None of These

Q2. The Centre’s fiscal deficit in the first 10 months of the current financial year has widened by 27% to

1. Rs 8.90 lakh crore
2. Rs 11.90 lakh crore
3. Rs 15.70 lakh crore
4. Rs 19.29 lakh crore
5. None of These

Q3. Name the  former Bengaluru police commissioner  who joined the BJP on March 1 ?

1. Kiran Bedi
2. Manoj Yadav
3. Bhaskar Rao
4. H. T. Sangliana
5. None of These

Q4. Who among the following have their names on the list of members the president intends to appoint as members of the influential US President's Export Council ?

1. Punit Renjen and Rajesh Subramaniam
2. Dr. Ami Bera and  Ro Khanna
3. Raja Krishnamoorthi and Pramila Jayapal
4. Garima Verma  and Vedant Patel 
5. None of These

Q5. Who among the following has been  was named the   FIFA best men’s player on Feb 27 after leading Argentina to last year's World Cup title in Qatar ?

1. David Alaba
2. Karim Benzema
3. Kylian Mbappé
4. Lionel Messi
5. None of These

Answers

1----------------------------------1   State Bank of India

2-----------------------------------2   Rs 11.90 lakh crore

3-----------------------------------3   Bhaskar Rao

4------------------------------------1  Punit Renjen and Rajesh Subramaniam

5-------------------------------------4    Lionel Messi

Union Minister Dr Jitendra Singh has said that India is on the way to becoming one of the top five global bio-manufacturing hubs.

Speaking at the 37th Foundation Day of the Department of Biotechnology (DBT) at the National Institute of Immunology on Feb 26 , Dr Singh said India acquire the prestigious position by 2025.

He said the Modi government was committed to promoting an innovation ecosystem in the country for industry-driven startups to facilitate jobs.

The minister also called for an equal stake with equal partnership and responsibility by industry to sustain the startup boom. Elaborating on the PM’s idea of an “Atma Nirbhar Bharat”, the minister said India’s vaccine strategy has brought together the pharmacy, industry, and academia in partnership, keeping an eye on meeting the current as well as possible future challenges. He pointed out that the idea behind such initiatives was aimed at bringing about a sustainable partnership in the long run and providing a sustainable source of livelihood to India’s youth.

Highlighting the government initiatives, the minister reiterated that India’s bio-economy has grown eight times higher in the last eight years under PM Modi from $ 10 billion in 2014 to over $80 billion in 2022.