Current affairs 25 February 2023

Former Mastercard CEO, Ajay Banga nominated to Lead World Bank.

• US President, Joe Biden has nominated former Mastercard CEO Ajay Banga as the president of the World Bank.
• He would replace David Malpass, who will step down from his role this June before completing his tenure in April 2024.
• He was nominated for his expertise in handling global challenges including climate change.
• Presently, he is serving as the vice chairman at private equity firm General Atlantic.
• Notably, he is the 1st Indian-born nominee for this role.

CAG Girish Chandra Murmu selected as External Auditor of ILO in Geneva.

• Comptroller and Auditor General (CAG) Girish Chandra Murmu has been selected as the External Auditor of the International Labour Organization (ILO) in Geneva.
• He has been selected for a four-year term from 2024 to 2027.
• CAG will take over from the incumbent External Auditor of ILO, the Supreme Audit Institution of the Philippines.
• CAG’s appointment is a recognition of its standing among the international community and its professionalism, and its global audit experience.

Abu Dhabi defence firm, India's HAL sign MoU at UAE's defence expo.

• UAE's leading defense group, EDGE signed a Memorandum of Understanding with India's aerospace firm Hindustan Aeronautics Limited (HAL) at the International Defence Exhibition and Conference (IDEX).
• Aim: To explore the areas of cooperation, including joint design and development of missile systems and Unmanned aerial vehicles (drones).
• Besides, both companies will also explore the utilization of HAL's small gas turbine engines on EDGE's guided weapons.

Sajjan Jindal wins EY Entrepreneur of the Year Award 2022.

• Chairman of JSW Group Sajjan Jindal was honored with the EY Entrepreneur of the Year Award 2022.
• Reason: For his exceptional entrepreneurial journey in scaling the global conglomerate with a presence in steel, cement, infrastructure, energy, and paints.
• He will now represent India at the EY World Entrepreneur of the Year Award (WEOY) at Monte Carlo in June 2023.
• While K P Singh, Chairman Emeritus, DLF Group, was honored with the Lifetime Achievement Award.

NTPC ranked as the top Independent Power Producers.

• NTPC Limited has topped the ranking of Independent Power Producers and Energy Traders Globally in the S&P Global Commodity Insights Top 250 Global Energy Company Rankings 2022.
• These rankings are based on four key metrics: Asset worth, Revenues, Profits, and Return on Investment (ROI).
• Presently, NTPC contributes 24% of the total electricity produced in India.
• NTPC is targeting non-fossil fuel-based capacity to make up nearly 50% of the company’s portfolio by 2032.