Daily GK Update- 25th May, 2023

NATIONAL UPDATES:

 

1. Government unveils UDAN 5.1 to enhance connectivity to remote areas: The Ministry of Civil Aviation has launched the 5.1 version of the Regional Connectivity Scheme (RCS) - Ude Desh Ka Aam Nagrik (UDAN) to further enhance connectivity to remote areas of the country and achieve last-mile connectivity through helicopters. For the first time under RCS-UDAN, this round is designed specifically for helicopter routes. Airfare caps have been reduced by as much as 25% to make flying in helicopters more affordable for passengers.

 

2. Molbio, IISc spin-off collaborate on diagnostic test for sickle cell: Molbio Diagnostics and ShanMukha Innovations have collaborated to design, develop and commercialize point-of-care diagnostic devices, SickleCert. Aim: To diagnose hemoglobin-related diseases. ShanMukha Innovations is an IISc spin-off that specializes in creating mobile diagnostic solutions. SickleCert is a first-of-its-kind indigenous point-of-care confirmatory test in the country for quantitative detection and differentiation of sickle cell disease/trait.

 

3. IIT Madras launched 15 Centres of Excellence: Indian Institute of Technology Madras (IIT Madras) has launched 15 Centres of Excellence (CoE) as part of the ‘Institute of Eminence’ (IoE) Scheme on 24th May 2023. Aim: To develop next-generation technologies and create a significant impact The IoE Scheme was launched by the Government of India to empower Higher Educational Institutions to become world-class teaching and research institutions. IIT Madras, one of the pre-eminent institutions in India, was chosen in 2019

 

4. Odisha govt collaborates with Infosys, Nasscom: The Odisha Govt’s Higher Education Department has signed an MoU with Infosys and Nasscom to enhance the skills and employability of students in Higher Education Institutions. Aim: To provide learning and employment opportunities for students and promote equal access to education for passionate individuals Infosys has set a goal to enable digital skills on a large scale and empower more than 10 million people across India through its program, Infosys Springboard.

 

5. Justice S Vaidyanathan appointed as Acting Chief Justice of Madras HC: The President of India has named Justice S Vaidyanathan, the seniormost judge of the Madras high court, as the acting Chief Justice of the Madras high court, with effect from 25.05.2023. He has succeeded the acting Chief Justice of the Madras HC, Justice T Raja, who retired. He served as an editor of Labour Law Books published by the Madras Book Agency He was elevated as an additional high court judge on October 25, 2013, and became a permanent judge on April 14, 2015

 

6. Kerala to be the first fully e-governed state: Kerala is set to declare itself India’s first “total e-governed state”. The achievement has been realized through a set of policy initiatives of the government seeking to transform the state into a digitally-empowered society. The delivery of all vital services has already been digitized, covering all key domains including health, education, land revenue, documentation of properties, public distribution system and social security payouts. Besides digitizing the delivery of government services to the people by making them transparent and inclusive, total e-governance will also ensure inclusion of all sections of society, including the less privileged and marginalized. The achievement enables online delivery of the whole range of government services by leveraging state-of-the-art technology and platforms. The government has built a single-window service-delivery mechanism called e-Sevanam, which integrates more than 800 government services online.

 

7. PM Modi flagged off Uttarakhand’s first Vande Bharat Express: Prime Minister Narendra Modi has virtually inaugurated the Delhi (Anand Vihar)-Dehradun Vande Bharat Express. This is the first Vande Bharat to be introduced in Uttarakhand The train will cover a distance of 302 km in 4 hours and 45 minutes. The train will run all days of the week except Wednesday. Earlier, PM Modi flagged off the Vande Bharat Express between Puri and Howrah.

 

8. Mukundan appoints as MD & CEO of Tata Chemical Board: Tata Chemicals’ board has re-appointed R Mukundan as MD & CEO for a further term of five years, with effect from 26 November 2023. The re-appointment of Mr. R. Mukundan was based on the recommendation of the Nomination and Remuneration Committee. It is one of the largest chemical companies in India with operations in India.

 

INTERNATIONAL UPDATES:

 

1. Tata Group only Indian firm in BCG list of top 50 most innovative firms: Tata Group is the only Indian company to feature in the Top 50 innovative companies 2023 list, released by Boston Consulting Group (BCG). Tata Group ranked 20 among the Top 50 innovative companies. Top 10: Apple, Tesla, Amazon, Alphabet, Microsoft, Moderna, Samsung, Huawei, BYD, and Siemens BCG's list parameters: Superior performance, higher resilience to shocks and disruptions, and the ability to exploit innovation faster for value-creating growth, among other things

 

2. State and Trends of Carbon Pricing 2023 report: According to the World Bank’s annual “State and Trends of Carbon Pricing” report, revenues from carbon taxes and Emissions Trading Systems (ETS) have reached a record high, about $95 billion. This is despite the challenging context for governments facing high inflation, fiscal pressures, and energy crises. Several countries are using a price on carbon emissions to help meet their climate goals in the form of a tax and Emissions Trading System (ETS).

 

3. Bangladesh-US joint naval exercise begins in Chattogram: The Joint Bangladesh-US Naval drill Exercise ‘Tiger Shark 40’ has started at BNS Nirvik in Chattogram. Aim: To increase the strategic capabilities of both countries and to acquire mutual technical and procedural knowledge It is being undertaken to improve the existing good relations between the armed forces of the two countries. Bangladesh Army and Navy and US Special Forces participated in this training exercise held under the management of Commodore Swords Command.

 

4. Indian Railways hands over 20 Broad Gauge Locomotives to Bangladesh: The Indian Railways handed over 20 Broad Gauge locomotives to Bangladesh as part of a grant assistance program. The initiative is aimed at meeting the growing demand for passenger and freight traffic between the two neighboring countries. The handing over of these locomotives fulfills an important commitment made during the visit of Bangladesh’s Prime Minister Sheikh Hasina to India in October 2019. Currently, there are nine interchanges between India and Bangladesh, of which five are already operational and two are under construction.

 

5. India and Australia sign Migration and Mobility Partnership Agreement: India and Australia have signed agreements in the field of mobility and migration with a view to encouraging the orderly movement of students, researchers, professionals, academics, and others. The new India-Australia Migration and Mobility Partnership Agreement (MMPA) has been specifically created for India and will ‘promote the two-way mobility of students, graduates, academic researchers, and business people’. The agreement will help further facilitate the mobility provision of students, professionals, researchers, academics, and others, including through a new skilled pathway named MATES (Mobility Arrangement for Talented Early Professionals Scheme) specifically created for India. Prime Minister Albanese announced the establishment of a new Australian Consulate General in Bengaluru to link Australian businesses to India’s digital and innovation ecosystem.

 

6. Ireland become first country to introduce health warnings on alcohol: Ireland will introduce mandatory health labelling of alcoholic drinks, warning of the links to cancer, liver disease and the risk of drinking while pregnant. The new regulations, signed into law by health minister Stephen Donnelly on Monday, will take effect in three years to give businesses time to prepare for the change. It will also alert consumers to the calorie and alcohol content. This law is designed to give all of us as consumers a better understanding of the alcohol content and health risks associated with consuming alcohol. The warnings will provide concise information about the health hazards linked to excessive alcohol consumption, encouraging individuals to make informed decisions. Health warnings include liver disease, heart problems, increased risk of cancer, mental health problems and other associated risks.

 

7. 25 May – International Missing Children’s Day: International Missing Children’s Day is an awareness event that is observed every year on 25^th The aims of the day are to place a spotlight on the issue of child abduction, educate parents on safeguarding measures to protect their children and also honour those who have never been found and celebrate those who have. Missing Children’s Day began as an observance in the USA in 1983. The date was chosen following the disappearance of 6-year-old Etan Patz on 25th May 1979 from New York City. According to the Polly Klaas Foundation, 99.8 percent of children reported missing come home.

8. 25 May – World Thyroid Day: World Thyroid Day is observed every year on 25 May. Objective – To educate people on thyroid diseases and be aware of the symptoms World Thyroid Day was first observed in 2007 by the members of the Thyroid Federation International. This global healthcare day was created to honour European Thyroid Association (ETA) which was formed in the year 1965. The day is dedicated to people suffering from thyroid disorders and the researchers who are committed to the study and treatment of thyroid diseases worldwide. What is thyroid disease? Thyroid disease is a general term for a medical condition that keeps your thyroid from making the right amount of hormones. Your thyroid typically makes hormones that keep your body functioning normally. When the thyroid makes too much thyroid hormone, your body uses energy too quickly. This is called hyperthyroidism. Using energy too quickly will do more than make you tired — it can make your heart beat faster, cause you to lose weight without trying and even make you feel nervous.

 

OTHER UPDATES:

 

SPORTS

 

1. Murali Sreeshankar wins gold at International Jumping Meeting, Greece: India’s long jumper, Murali Sreeshankar has successfully defended his title in the men’s long jump event at the 13th International Jumping Meeting 2023 in Kallithea, Greece. He registered his season-best jump of 8.18m to beat his compatriot. This was Murali Sreeshankar’s third competition of the year and also the third gold medal. While Jeswin Aldrin has claimed silver with an effort of 7.85m. Jalen Rucker of Australia won bronze for a 7.80m effort in the 12-man field.

 

2. PM Modi to inaugurate third Khelo India University games in Lucknow: PM Modi will inaugurate the third Khelo India University Games 2022 via video conferencing on May 25, 2023. The event will be attended by Union Sports Minister Anurag Singh Thakur and UP CM Yogi Adityanath. The events related to the university games have already started on May 23 in the Gautam Budh Nagar district. Event locations: Varanasi, Gorakhpur, Lucknow, and Gautam Buddha Nagar Mascot: Jitu, which represents Swamp Deer (Barasingha) - the state animal of UP

 

BANKING AND FINANCE

 

1. Axis Bank launches a digital onboarding platform ‘Sarathi’: Axis Bank has launched ‘Sarathi’ a digital onboarding journey to enable Electronic Data Capture or Point of Sale (POS) for merchants. This platform provides a seamless and hassle-free experience for merchants. Onboarding process: Realtime database checks for faster application processing Live video verification to authenticate merchant information Eliminates the field verification process which helps in instant decision-making Instant installation of POS

 

2. SBI General unveils 'Surety Bond Bima' for infrastructure projects: SBI General Insurance has launched the General Surety Bond Bima (Conditional & Unconditional) insurance product. Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insulate the contractor as well as the principal (contract awarding authority). Aim: To provide protection against breach of terms and conditions by the contractors either during the bidding stage or during the performance stage of a project

 

3. India’s GDP crossed $3.5 trillion in 2022: Moody’s report: According to Moody’s Report 2023, India’s GDP has crossed USD 3.5 trillion in 2022 and is predicted to continue to be the fastest-growing G20 economy over the next few years. Moody’s has warned that reform and policy barriers could hamper investment in India. In a research report, the US-based agency said that bureaucracy could slow approval processes in obtaining licences and setting up businesses, prolonging project gestation. India’s higher bureaucracy in decision-making will reduce its attractiveness as a destination for foreign direct investment (FDI), especially when competing with other developing economies in the region, such as Indonesia and Vietnam.

 

4. Kotak Mutual Fund launches Nifty 200 Momentum30 Index Fund: Kotak Mahindra Asset Management Company has launched the Kotak Nifty 200 Momentum 30 Index Fund, an open-ended scheme. The new fund aims to track the performance of the top 30 companies within the Nifty 200, selected based on their Normalized Momentum Score. The new fund offer (NFO) for this scheme will open on May 25 and will close on June 8, 2023 This Normalized Momentum Score is determined by 6-month and 12-month price returns, adjusted for volatility. This selection offers investors exposure to momentum stocks across market capitalizations and diverse sectors.

 

5. YES Bank collaborates with IIT Kanpur to offer support to Incubated Startups: The Startup Incubation and Innovation Centre (SIIC) at the IIT Kanpur joined hands with YES Bank by signing an MoU that seeks to provide crucial support to the startups incubated at SIIC. Under the terms of the MoU, SIIC and YES Bank will collaborate closely to identify innovative startups and extend them the necessary financial backing. This strategic partnership aims to bolster the startup ecosystem in India by granting these ventures access to a wide range of resources through YES Bank’s specialized startup-focused program called YES Head Startup.

 

AWARDS AND HONOURS

 

1. Bulgarian writer Georgi Gospodinov wins International Booker Prize for ‘Time Shelter’: Bulgarian writer Georgi Gospodinov and translator Angela Rodel were named winners of the International Booker Prize with the novel “Time Shelter” – a first for a book in Bulgarian. The prestigious award recognizes works of fiction from around the world that have been translated into English and the £50,000 ($62,000) prize is split equally between the author and the translator. The winning novel focuses on a “clinic for the past” that offers experimental Alzheimer’s treatment. It is a novel that invites reflection and vigilance as much as it moves us, because the language — sensitive and precise — manages to capture, in a Proustian vein, the extreme fragility of the past.

 

OBITUARIES

 

1. Legendary singer Tina Turner passes away: Tina Turner, the pioneering rock’n’roll star who became a pop behemoth in the 1980s, has died aged 83 after a long illness. She started her career with Ike Turner's Kings of Rhythm in 1957. Under the name Little Ann, she appeared on her first record, "Boxtop", in 1958. She received 12 Grammy Awards, including eight competitive awards, three Grammy Hall of Fame awards, and Lifetime Achievement Award. She was the first black artist and woman on the cover of Rolling Stone.