Daily GK Update- 26th May, 2023

NATIONAL UPDATES:

 

1. The founder of start-up Dream11, Harsh Jain elected IAMAI chairperson: Harsh Jain, co-founder, and CEO of Dream Sports, has been elected the chairman of the Internet and Mobile Association of India (IAMAI) for 2023-25. He has replaced Sanjay Gupta, vice president, and country manager of Google India. Rajesh Magow (co-founder and group CEO of MakeMyTrip) was elected as vice chairman, while Satyan Ganjwani (vice chairman of Times Internet) as the treasurer of the association. The IAMAI governing council election is held every two years.

 

2. Union Minister Giriraj Singh launches SAMARTH campaign: The Union Minister for Rural Development, Giriraj Singh has launched the ‘SAMARTH' Campaign on promote Digital Transactions in 50000 Gram Panchayats' in Lucknow. Implemented by: Ministry of Rural Development Aim: To promote Digital Transactions in rural areas, focusing on women Minister has lauded the SHG’s NPA, which was reduced from 9.58 % in 2013 to below 2%, and urged banks to recognize and outstanding credit performance of SHG Didis and facilitate loans.

 

3. Exemption for leave encashment raised to ₹25 lakh: The Central Board of Direct Taxes has raised the tax exemption on leave encashment on the retirement of non-government salaried employees from ₹3 lakh to ₹25 lakh, effective from 1 April 2023. It was announced in the union budget 2023. It applies to the period of earned leave in the credit of the employee at the time of retirement whether on superannuation or otherwise. In the case of government employees, the entire leave encashment amount received is tax-exempt.

 

4. Goa, Uttarakhand signed MoU to Strengthen Tourism Cooperation: The officials of the Government of Goa and the Government of Uttarakhand have signed an MoU for enhancing the tourism landscape of both states. The MoU was signed in the presence of Rohan Khaunte (Minister for Tourism, Goa) and Pushkar Singh Dhami (CM of Uttarakhand). Aim: To promote bilateral cooperation in the travel and tourism sector The signing of this MoU is also aligned with the ‘Dekho Apna Desh’ initiative launched by PM Narendra Modi.

 

5. India to have new supercomputer for weather forecasting: During the visit to the National Centre for Medium-Range Weather Forecasting, Union Earth Sciences Minister Kiren Rijiju informed that India will unveil its new 18 petaflop supercomputer for weather forecasting institutes by the end of 2023. The new supercomputer will be bought at a cost of Rs 900 crore. NCMRWF will be allocated eight petaflop supercomputing power with the remaining 10 petaflops going to IITM The NCMRWF houses 'Mihir', a 2.8 petaflop supercomputer

 

6. Ayush Minister inaugurates PCIM&H ‘e-office’ and online portal: Union Minister for AYUSH Sarbananda Sonowal has inaugurated the “PCIM&H e-Office Portal” and an online portal. The objective of the online portal is to facilitate easy access of Pharmacopoeia Monographs to stakeholders across the globe. PCIM&H, under the Ministry of AYUSH, is actively involved in the standardization and quality control of Ayurveda, Siddha, Unani, and Homeopathic (ASU&H) drugs, and publishes standards in the form of Pharmacopoeia.

 

INTERNATIONAL UPDATES:

 

1. Nepal celebrates Bhoto Jatra: Nepal celebrates Bhoto Jatra which is a public holiday in Kathmandu Valley. This celebration is a part of Rato Machhindranath Jatra which is a month-long chariot procession. It originates at Pulchok where a chariot made of wood without the use of iron nails is created and the procession ends at Jwalakhel. In Bhoto Jatra, a "lost & found" bejeweled Nepali vest "bhoto" of Rato Machchindranath is displayed to the public to find its "rightful owner".

 

2. Iran successfully launched ballistic missile 'Kheibar: Iran has successfully test-launched a ballistic missile with a range of around 2,000-km The liquid-fuel missile had been named the Kheibar, the latest version of the Khorramshahr. The missiles are capable of carrying 1,500 kg of warheads. The speed of the high-mobility tactical missile can reach Mach 16 outside the atmosphere and Mach 8 inside the atmosphere. Iran capital: Tehran; Currency: Iranian Rial

 

3. AI supercomputer 'AIRAWAT' ranked 75th in Global Supercomputing list: India's AI supercomputer 'AIRAWAT' has secured the 75th position in the prestigious Top 500 Global Supercomputing List. The announcement was made during the 61st edition of the International Supercomputing Conference (ISC 2023) held in Germany. Airawat PSAI, stands as India’s largest and fastest AI supercomputing system, with a remarkable speed of 13,170 teraflops (Rpeak) Other Indian supercomputers: PARAM Siddhi-AI (131), Pratyush (169), and Mihir (316)

 

4. World Meteorological Congress approves Global Greenhouse Gas Watch: The World Meteorological Congress has approved a new greenhouse gas monitoring initiative to support urgent action to reduce heat-trapping gases which are fuelling temperature increase. Aim: To fill critical information gaps and provide an integrated, operational framework The framework will bring all space-based and surface-based observing systems, as well as modeling and data assimilation capabilities, under one roof. It was supported by the WMO’s 193 Members.

 

5. Sydney’s Harris Park renamed as ‘Little India’: Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese officially named Sydney’s Harris Park area in Parramatta as ‘Little India’ during a special community event for the Indian diaspora. Harris Park is a hub in Western Sydney where the Indian community celebrates festivals and events such as Diwali and Australia Day. Harris Park is home to a large Indian community and is well-established as a unique destination for Indian cuisine, and Indian-owned businesses.

 

6. The Hanke’s Annual Misery Index (HAMI) 2022: India ranked 103: Zimbabwe has been ranked ‘most miserable country’ in the Hanke’s Annual Misery Index (HAMI) 2022. The country’s staggering level of misery has been attributed to the policies implemented by President Emmerson Mnangagwa, representing the ZANU-PF party. According to the index, Zimbabwe experienced a skyrocketing inflation rate of 243.8 percent in the previous year. India is placed at the 103rd spot, with unemployment identified as the primary contributing factor to the country’s relative level of misery. Among the 157 countries analyzed, Switzerland emerged as the least miserable, occupying the top position (157) on the list. Grappling with economic and political challenges, Pakistan secured the 35th position on the list of the world’s most miserable countries. Inflation was identified as the primary contributing factor to Pakistan’s placement in the index. Economist Steve Hanke’s index provided rankings for a total of 157 countries. The index is the sum of the year-end unemployment, inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita. Among the countries ranked, Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana emerged as the 15 most miserable countries worldwide. Finland, constantly ranked as the world’s happiest country for six consecutive years according to the World Happiness Report, secured the 109th position on the misery index. The United States fared relatively well on the misery index, ranking among the least miserable countries at 134. Other countries with the least misery levels include Kuwait (156), Ireland (155), Japan (154), Malaysia (153), Taiwan (152), Niger (151), Thailand (150), Togo (149), and Malta (148).

 

7. K Govindraj elected as President of  FIBA: K. Govindaraj has been elected as the President of the International Basketball Federation (FIBA) Asia. He replaced Qatar’s Sheikh Saud Ali Al Thani, who served as head of FIBA Asia since 2002. Govindaraj is the first Indian to be unanimously nominated as the President of FIBA Asia. He is a Congress MLC and holds the position of President of the International Basketball Federation (FIBA) Asia and President of Karnataka Olympic Association.

 

8. Rayyanah Barnawi, the first Arab woman astronaut to go to space: Part of Axiom Space’s private mission to the International Space Station (ISS), Rayyanah Barnawi became the first Arab woman astronaut to go into space. Barwani is part of a team which has travelled to the ISS in a SpaceX Falcon 9 rocket from the Kennedy Space Center at Cape Canaveral in the southern state of Florida. The group — also including Peggy Whitson, a former NASA astronaut who will be making her fourth flight to the ISS, and John Shoffner, a businessman from Tennessee — will stay aboard the space station for around eight days to carry out a variety of experiments.

 

OTHER UPDATES:

 

SPORTS

 

1. Murali Sreeshankar won gold at International Jumping Meeting in Greece: Indian Long jumper Murali Sreeshankar won gold while compatriot Jeswin Aldrin finished bagged silver at the International Jumping Meeting 2023 at Kallithea in Greece. Kerala’s Murali Sreesankar won the gold medal in the International Jumping Meet with a jump of 8.31 metres. Sreeshankar, who has played in the Tokyo Olympics, holds the national record of 8.36 metres. Sweden’s Tobias Montaller won the silver with a jump of 8.27m, while France’s Jules Pommery won the bronze. Jeswin Aldrin claimed silver with an effort of 7.85m.

 

2. Sania Mirza appointed as the Tennis Ambassador for Sony Sports Network: Leading sports broadcaster Sony Sports Network has announced the exclusive onboarding Sania Mirza as the Tennis Ambassador for Sony Sports Network. Sony Sports Network has also launched a campaign called Home of Tennis. The campaign showcases Mirza, Sony Sports Network, and the three Grand Slams as a match made in heaven and celebrates her journey as she dons the hat of an expert after retiring from playing tennis. The first film talks about Mirza exclusively partnering with Sony Sports Network. The second film is Mirza presenting Roland Garros, Clay that Slays, to Indian audiences. The third film will showcase Sony Sports Network as the Home to Tennis with all three Grand Slams – Australian Open, Roland Garros and US Open, presented by the Tennis Ace. The fourth film with Mirza will be a teaser for the US Open, which is a Glam Slam and will launch in August. Having won six Grand Slam titles across Australian Open (2), US Open (2), Roland Garros (1) & Wimbledon (1), including three women’s doubles titles and three mixed doubles titles, she is one of the most successful tennis players in Indian history.

 

BANKING AND FINANCE

 

1. ADB, India signed agreement for development of infrastructure in Andhra: The Indian government has signed a loan agreement of USD 141.12 million with the Asian Development Bank for the development of infrastructure in three industrial clusters situated in Andhra Pradesh. This financing is the second tranche of the 500 million multi-tranche financing facility.

Aim: To promote industrialization to increase the share of manufacturing in the state’s gross domestic product, build competitiveness and create jobs in the project's target areas

 

2. Bank of Maharashtra tops PSU lenders chart in profit and loan growth: Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. BoM has also recorded the highest growth in profitability with the bottom line growing almost 126% to Rs 2,602 crore during the year. In terms of percentage increase in gross advances, BoM recorded a 29.4% rise in loans at Rs 1,75,120 crore as of March 2023. It was followed by Indian Overseas Bank and UCO Bank.

 

3. HDFC Bank partners Manipal Global to build up a talent pipeline: HDFC Bank has partnered with Manipal Global Academy of BFSI to launch its Future Banker 2.0 programme. Aim: To groom young graduates into banking professionals within a year The nationwide recruitment initiative seeks to establish a talent pipeline for the bank's retail banking division. The one-year professional diploma incorporates classroom sessions, guest lectures, role plays, and practical fieldwork. It also includes eight months of paid internship.

4. Centre approves digital communication system between banks and CEIB: The Central govt has cleared a prompt digital reporting and communication mechanism between banks and Central Economic Intelligence Bureau (CEIB) to plug defaults on loans of over Rs 50 crore. CEIB will send a report digitally regarding borrowers to the PSU banks for a loan amount of Rs 50 crore or higher at the pre-approval stage within 15 days of request. The new system will require banks to submit their requests to CEIB through dedicated emails in a specific format

 

AWARDS AND HONOURS

 

1. Actor Sonu Sood Receives Honoris Causa at Apex University’s Jaipur: Sonu Sood, the acclaimed actor and philanthropist, was the centre of attention at the 1st Convocation Ceremony of Apex University Jaipur, where he received the esteemed Honoris Causa for his noble work. The event held at the Apex University campus in Jaipur was a momentous occasion as graduates from various academic programmes received their degrees, diplomas, and certificates. The Honoris Causa, a prestigious award, was bestowed upon Sonu Sood by Apex University Jaipur in recognition of his exceptional contributions to society. Sonu Sood’s tireless efforts during the COVID-19 pandemic have garnered him nationwide recognition as a true humanitarian.

 

OBITUARIES

 

1. Industrialist and philanthropist Karumuttu T Kannan passes away: Karumuttu T Kannan, a prominent industrialist, and philanthropist, passed away. He was the Chairman & Managing Director of Thiagarajar Mills Ltd. Kannan held significant positions such as Chairman of the Textiles Committee in Mumbai, and The South India Mills’ Association. Kannan held the distinguished role of Thakkar of Arulmigu Meenakshi Sundareswarar Thirukoil in Madurai.