Current affairs 30 May 2023

India's SJVN to develop second hydropower project Arun-4 in Nepal.

• Nepal has decided to allow India's Satluj Jal Vidyut Nigam (SJVN) Limited to develop a second hydropower project in the country.
• Presently, SJVN is developing a 900-MW Arun -III hydroelectric project, a run-of-river located on the Arun River in Eastern Nepal.
• The draft project development agreement was approved by Nepal PM Pushpa Kamal Dahal Prachanda and is to be signed with India's state-owned SJVN to develop the 669 MW Lower Arun Hydropower project in eastern Nepal

Bank of Maharashtra top performer in NPA management during FY23.

• Bank of Maharashtra (BoM) has emerged as the best bank as far as the management of bad loans is concerned with its net non-performing assets (NPAs).
• The NPA fell as low as 0.25% during the financial year ended March 2023.
• This is the lowest ratio among all banks having total business above Rs 3 lakh crore and not just public sector banks (PSBs).
• While HDFC Bank's net NPA fell to 0.27% followed by Kotak Mahindra Bank placed third spot with 0.37% of net advances.

Reliance Chairman Mukesh Ambani on Advisory Committee of COP28.

• Reliance Industries Ltd Chairman, Mukesh Ambani has been named as a member of the international advisory committee that will provide guidance and counsel to the presidency of the 28th session of the Conference of the Parties (COP28), UAE.
• He is among 31 international experts named on the panel.
• The panel will inspire collaborative and transformative action across adaptation, mitigation, damage, food, and nature-based solutions.

8th International Conference on Pharma and Medical Device Sector.

• Union Health Minister, Dr Mansukh Mandaviya has inaugurated the 8th International Conference on Pharma and Medical Device Sector.
• He unveiled the National Medical Device Policy 2023 and launched the Export Promotion Council for Medical Devices.
• He also launched a scheme titled Assistance for Medical Devices clusters for Common Facilities (AMD-CF).
• Aim: To establish and strengthen common infrastructure facilities in the medical devices clusters

UPI to account for 90% of retail digital payments by 2026-27.

• According to PwC report 'The Indian Payments Handbook - 2022-27, UPI transactions are likely to reach 1 billion per day by 2026-27, accounting for 90% of the retail digital payments.
• UPI is driving the digital payments revolution, accounting for about 75% of the total transaction volume in the retail segment during 2022-23.
• The Indian digital payments market also saw steady growth at a CAGR of 50% (volume) and is expected to reach 411 billion transactions in FY 2026-27.