Daily GK Update- 2nd Apr, 2023

NATIONAL UPDATES:

 

1. ISRO successfully conducts the ‘Reusable Launch Vehicle' test: The Indian Space Research Organisation (ISRO) in association with the DRDO and IAF successfully demonstrated a precise landing experiment for a Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX) test. It was conducted at the Aeronautical Test Range (ATR), Chitradurga, Karnataka. This is a part of ISRO’s efforts to develop RLVs, or space planes/shuttles, which can travel to low earth orbits to deliver payloads and return to earth for use again.

 

2. India records highest ever defence export during FY 2022-23: In Financial Year 2022-23, India's defense exports have reached an all-time high of 15920 crore rupees, which is almost Rs 3,000 crore more than the previous financial year (2021-22). At present, India is now exporting to over 85 countries. India exports major platforms like Dornier-228, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos Missiles, Akash Missile System, Simulators, Mine Protected Vehicles, Armoured Vehicles, PINAKA Rockets & Launchers, etc.

 

3. Women between 15-29 years spend more time than men doing Unpaid Labour: According to the report titled 'Women and Men in India 2022', released by the Ministry of Statistics and Programme Implementation, an average Indian woman aged between 15 and 29 spends 5.5 hours doing unpaid labor. While a man between 15 and 29 spends about 50 minutes daily doing work that yields no money. A senior woman (above 60 ) spends four hours a day doing unpaid labor, while a senior man spends 1.5 hours on the same.

 

4. Ministry of Defence Rs 1700 crore deal with BrahMos Aerospace: Ministry of Defence has inked a Rs 1,700 crore contract with BrahMos Aerospace Private Limited (BAPL) for procurement of next-generation maritime mobile coastal batteries and BrahMos missiles. These systems will be equipped with supersonic BrahMos missiles and will significantly enhance the multi-directional maritime strike capability of the Indian Navy. BAPL is a joint venture between India and Russia making crucial contribution to augment the new generation surface-to-surface missile with enhanced ranges. This contract is going to give further boost to the indigenous production of critical weapon systems and ammunition with active participation of indigenous industries. This project will generate employment of more than 90,000 man-days over a period of four years. The delivery of these batteries is scheduled to commence from 2027.

 

5. 1 April – Odisha Day or Utkal Day: Odisha Day or Utkala Divas is celebrated on 1st April. This day is significant for the people of Odisha as it marks the formation of the state on 1st April, 1936. Odisha has its 88th foundation day on 1st April 2023. Odisha came into existence back in the year 1936, over a decade before India became independent of the British Raj. Odisha was previously part of the Bengal Presidency, but it was carved out as an independent state following a 3-decade-long struggle by the local people.

 

INTERNATIONAL UPDATES:

 

1. Finland becomes the 31st member of Nato: The Secretary General of the North Atlantic Treaty Organization (NATO), Jens Stoltenberg has informed that Finland has become the 31st member of the alliance. Turkey’s approval has allowed the extension of NATO. Finland shares a long border (over 1,300 kilometers) with Russia, and its decision to join NATO was prompted by security concerns following Russia’s invasion of Ukraine in 2022. However, Turkey and Hungary have declined Sweden’s application to join NATO.

 

2. Israel launches new Ofek-13 spy satellite into orbit: Israel has successfully launched the “Ofek-13” spy satellite into space by the Shavit launch vehicle, from Palmachim Airbase spaceport. This satellite was manufactured by state-owned Israel Aerospace Industries (IAI). It is the latest in a series of domestically produced satellites that were first put into orbit in 1988. Immediately after launch, the satellite successfully entered orbit and started transmitting data, and completed an initial series of tests

 

3. World Autism Awareness Day 2023: 2nd April: World Autism day is observed annually on April 2 to promote awareness and advocacy for the rights of people with autism. This year marks the 16th anniversary of the day. This year the theme is “Contribution of Autistic Individuals at Home, at Work, in the Arts, and Policymaking.” In 2007, the United Nations General Assembly officially declared April 2nd as World Autism Awareness Day, following a proposal put forward by the State of Qatar.

 

4. 10th Bilateral Maritime exercise SLINEX-2023 will be conducted in Colombo: The 10th Edition of the annual Indian – Sri Lanka Bilateral Maritime exercise, SLINEX-2023 was held in Colombo, Sri Lanka. The exercise is being conducted in two phases of three days each, the Harbour Phase followed by Sea Phase. The Indian Navy will be represented by INS Kiltan and INS Savitri while Sri Lanka Navy will have SLNS Vijayabahu and SLNS Samudura. SLINEX-2023 will aim to enhance inter-operability, improve mutual understanding and exchange best practices and procedures in multi-faceted Maritime operations between both Navies.

 

OTHER UPDATES:

 

SPORTS

 

1. Aravindh Chithambaram wins Delhi International Open chess title: Aravindh Chithambaram has won the Delhi International Open chess title. Aravindh, who aggregated a massive 9.5 points from 10 rounds, collected Rs 6 lakh and the winner’s trophy from an event that offered Rs 45 lakh in prize money. Georgia’s Luka Paichadze took the second spot with nine points and gained Rs 5 lakh Aravindh Chithambaram Veerappan is an Indian chess grandmaster.

He won the Indian chess championships twice, in 2018 and 2019. He earned his international master title in 2014 and his grandmaster title in 2015.

 

BANKING AND FINANCE

 

1. India current account deficit narrows to 2.2% of GDP in Q3: According to the Reserve Bank of India (RBI), India's current account deficit (CAD) has narrowed to $18.2 billion (2.2% of GDP) in the October to December quarter (Q3FY23) from 4.4% of the GDP in the quarter ending September 2022. Reason: The decline was mainly due to the narrowing of the merchandise trade deficit. Services exports reported a growth of 24.5% on a y-o-y basis. CAD: It is the difference between the inflow and outflow of foreign exchange.

 

2. Union Bank opens ‘Special Rupee Vostro’ account in Malaysia: Union Bank of India has become the first Indian bank to open its ‘Special Rupee Vostro’ account through its corresponding bank in Malaysia i.e. India International Bank of Malaysia for trade settlement in rupee. The trade between India and Malaysia can now be settled in the Indian rupee, in addition to the current modes of settlement in other currencies. In July 2022, RBI decided to allow the settlement of India’s international trade in rupee. Malaysia currency: Ringgit

 

3. Fiscal deficit till February hits 83% of FY23 target: According to the Controller General of Accounts (CGA), the government's fiscal deficit for April 2022-February 2023 has widened to Rs 14.54 lakh crore, i.e. accounted for 82.8% of the full-year target for 2022-23. In 2021-22, the Fiscal deficit in the first 11 months was 82.7% of that year's target. The Centre made an upward revision in its fiscal deficit target for 2022-23 in the 2023 Budget to Rs 17.55 lakh crore from Rs 16.61 lakh crore.

 

4. Irdai names LIC, GIC as 'domestic systemically important' insurers: Insurance regulator, IRDAI has identified Life Insurance Corporation (LIC), New India Assurance, and General Insurance Corporation (GIC Re) as domestic systemically important insurers (D-SIIs) for 2022-23. These were the same institutions identified as DSII in 2021-22. D-SIIs refer to insurers of such size, market importance, and domestic and global interconnectedness, whose distress or failure would cause a significant dislocation in the domestic financial system.

 

OBITUARIES

 

1. Sahitya Akademi winner Sarah Thomas passes away: Noted author Sara Thomas passed away at 88 due to age-related ailments. She is a two-time recipient of the Kerala Sahitya Akademi award. Her noted work ‘Narmadipudava’ won the Kerala Sahitya Akademi award in 1979. She was also awarded the academy’s award in 2010 for her overall contribution to Malayalam literature. Her second novel ‘Muripadukal’ was made into a movie titled ‘Manimuzhakkam’ in 1976, which won several national and state awards.