NATIONAL UPDATES:
1. MoHUA,
MoR jointly ink MoU with JICA for Project SMART: The MoHUA
and the Ministry of Railways jointly signed an MoU with Japan
International Cooperation Agency for 'Station Area Development along
Mumbai-Ahmedabad High-Speed Rail' (Project-SMART). Project-SMART envisages
developing surrounding areas of Mumbai - Ahmedabad High-Speed Railway (MAHSR)
Stations. This also aimed to enhance accessibility and convenience of commuters
& other stakeholders and to promote economic activities in the vicinity of
station areas.
2. PMJJBY,
PMSBY, and APY complete 8 years of inception:
Pradhan Mantri Suraksha Bima Yojana (PMJJBY), Pradhan Mantri Jeevan Jyoti Bima
Yojana (PMSBY), and Atal Pension Yojana (APY) have completed their 8
years of providing social security cover on May 9. PMJJBY: One-year
life insurance scheme renewable from year to year offering coverage for death
for any reason. PMSBY is a one-year accidental insurance scheme renewable
from year to year offering coverage for death or disability due to an accident.
3. Ban
diesel four-wheelers in cities with 10 lakh population: Panel: According to a report commissioned by the oil ministry, India
should ban the use of diesel-powered four-wheelers in cities with over 10
lakh population by 2027 and switch to electric and gas-fuelled vehicles. The
report of the committee headed by former Oil Secretary Tarun Kapoor It has
also suggested phasing out motorcycles, scooters, and three-wheelers
with internal combustion engines by 2035 It help India to achieve
the goal of cutting emissions to net zero by 2070
4. Hindi
version of Uttarakhand DGP's book 'Cyber Encounters' released: Uttarakhand CM Pushkar Singh Dhami launched the Hindi
version of cybercrime named ‘Cyber Encounters’. This book was co-authored
by state director general of Police (DGP) Ashok Kumar and former
DRDO scientist OP Manocha. This book will help the readers in becoming
aware of various cyber crimes as it has mentioned actually related cases. It
will serve to inspire people to protect themselves from cybercrime.
5. Uttar
Pradesh becomes first state to make digital health cards for children : The Uttar Pradesh's Urban
Development Department and Lucknow Smart City launched a “School Health
Program”. This program has been started by Lucknow Smart City in three schools
in Lucknow. A digital health report card for the overall physical and
mental well-being of 1765 municipal school students is also being prepared
under the project. The benefit of health insurance worth Rs 25,000 is also
being given to these children.
6. Kiren
Rijiju launched the trailer of the first Tagine language film: Union minister Kiren Rijiju has launched the trailer of the "first
ever" movie in the Tagin language of his home state Arunachal
Pradesh. The film "Love in 90s" will be tax-free and will
ask the state government to promote it through other means as well. The film
looks at displaying the culture of the Tagin community before the whole country
and the world. Tagin or Ghasi Miri tribe is an indigenous community of
the Tawang and West Kameng districts, Arunachal Pradesh.
7. Telangana CM lays foundation of Hare Krishna Heritage
Tower in Hyderabad: Telangana Chief Minister K. Chandrasekhar
Rao has laid the foundation for the Hare Krishna Heritage
Tower in Hyderabad. The 400 feet (120 meters) tall structure will be
constructed on six acres of land in Narsingi at a cost of Rs 200 crore. The
tower will house the temples of Sri Sri Radha Krishna and Sri Venkateswara
Swamy. The chief minister announced Rs 25 crore on behalf of the state
government for the construction of the temple. The tower will be another
cultural landmark for Hyderabad. It will highlight the Telangana heritage in
the form of Kakatiya architectural elements. Accommodation facility will be
available for 1,500 devotees.
8. New Lithium deposits discovered in Rajasthan after J-K :
After Jammu and Kashmir, Lithium
reserves have been traced in the Degana district of Rajasthan. According
to officials, the lithium reserves are higher than the ones recently found in
Jammu and Kashmir. Officials have also informed, that the quantity of lithium here
can meet around 80% of India’s demand. For the first time, lithium reserves
were found in Jammu and Kashmir’s Reasi in February 2023. This was the first
significant mineral discovery in India, as previously only a small reserve had
been discovered in Karnataka. It attributes the discovery to the mines
ministry’s new focus on rare earth. Lithium reserves are concentrated in the
lithium triangle in South America – Argentina, Bolivia & Chile, with 50% of
the deposits concentrated in these regions. China, meanwhile, has the lead over
other countries and China controls 75% of Lithium refining. India’s plan to
increase EV penetration by 30% by 2030 relies heavily on lithium – as of now,
only a little more than 1% of all vehicle sales in the country are electric
vehicles.
9. ISRO to start online training programme for PG and and
final-year UG students: The Indian Space Research Organization (ISRO) has announced
a new introductory-level online training programme called Space
Science and Technology Awareness Training (START). START is aimed at
postgraduate and final-year undergraduate students of Physical Sciences and
Technology. The programme will cover various domains of Space Science,
including Astronomy and Astrophysics, Heliophysics and Sun-Earth interaction,
Instrumentation, and Aeronomy. It will be delivered by scientists from Indian
academia and ISRO centres. Academic institutions can submit applications for
the programme through the Jigyasa portal by May 20.
INTERNATIONAL UPDATES:
1. The
42nd ASEAN Summit begins in Indonesia:
The 42nd Summit of the Association of Southeast Asian Nations
(ASEAN) started in Indonesia on May 8, 2023. 2023 theme: ASEAN
Affairs: Epicenter of Growth Aim: To demonstrate the bloc’s hopes and
efforts to become the center and driving force behind global development ASEAN
is an organization formed by the governments of Malaysia, Indonesia, the
Philippines, Thailand, and Singapore in 1967. Aim: To promote economic growth
in the Southeast Asian region
2. Border Haat between India and Bangladesh inaugurated
at Bholaganj in Sylhet : A new Border-Haat between
India and Bangladesh was inaugurated in Bholaganj under the
Companiganj upazila of Sylhet. Expatriates’ Welfare and Overseas Employment
Minister of Bangladesh Imran Ahmed and Assistant High Commissioner of India
Niraj Kumar Jaiswal jointly inaugurated the Border-Haat. This is the fourth
Border Haat in Sylhet division out of which three are currently functional.
Three more Border Haats are planned to be opened in the Sylhet division. The
Border Haat will function on Wednesdays and Saturdays between 10 in the morning
to 4 in the afternoon. The Bholaganj Border Haat will have 26 stalls from India
and 24 stalls from Bangladesh where traditional items from both countries will
be sold duty-free.
OTHER UPDATES:
SPORTS
1. TNCA
launches talent scout program for women:
The Tamil Nadu Cricket Association (TNCA) has launched a Talent
Scout Program for women to unearth new talents. The Talent Scout Wing
which will comprise former men and women first-class cricketers and coaches,
will help in identifying the talent across the state The TNCA has formed
four groups of four members each who will cover all 37 districts in Tamil
Nadu. Any player who is above 13 years of age can attend the trials.
BANKING AND FINANCE
1. Fitch
lowered India’s GDP growth forecast to 6% for 2023-24: Fitch Ratings has predicted India's GDP growth forecast for
2023-24 to 6% from 6.2% and 6.7% in 2024-25. Reason: Headwinds
from elevated inflation, interest rates, and subdued global demand The rating
firm has also reaffirmed India’s long-term foreign-currency issuer default
rating at ‘BBB-’ with a stable outlook ‘BBB’ issuer default rating
indicates that expectations of default risk are currently low and payment
capacity to meet financial commitments is considered adequate
2. RBI
imposes ₹1.73 crore fine on HSBC for wrong credit card data: RBI has imposed a monetary penalty of ₹1.73 crore on Hongkong and
Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit
Information Companies Rules, 2006. HSBC has furnished incorrect credit
information regarding several expired credit cards with nil dues to all
four credit information companies. The RBI imposed the penalty in the exercise
of powers conferred under the provisions of Section 25(1) and Section
23(4) of the CIC (Regulation) Act, 2005.
3. RBI
parks incremental reserves in US treasuries, other sovereign securities: The Reserve Bank of India (RBI) has deployed
its incremental reserves in bonds and securities, focusing on US
Treasuries and debt issued by other top-rated sovereigns. Reason: To
manage its foreign currency assets and ensure the stability of the Indian
economy The latest half-yearly report on foreign exchange management showed
that as of end-March 2023, of the total foreign currency assets of $509.69
billion, $411.65 billion was invested in securities.
4. Capital SFB partnered with Max Life to offer life
insurance solutions: Capital Small Finance Bank Limited has
partnered with Max Life Insurance Company Limited to offer life insurance
offerings to Capital SFB’s customers. Through this tie-up, Capital SFB will
offer its customers a range of savings, protection, retirement, and group life
insurance plans of Max Life. Prior to Max Life, Capital Small Finance Bank has
also partnered with ICICI Prudential Life Insurance Limited and HDFC life
insurance Limited to provide their life insurance products to its customers. MD
& CEO of Capital SFB – Sarvjit Singh Samra
5. BharatPe rebrands PAYBACK India as ‘Zillion’: BharatPe
Group has rebranded its multi-brand loyalty program, Payback
India to Zillion. It aims to target customers across age groups and add a new
dimension to their overall shopping experience, across categories and brands. Zillion
will offer a wide range of options for customers to earn and redeem at a wide
range of partners across the country. Customers will be able to earn Zillion
coins across the network of offline and online partners, including groceries,
fuel, entertainment, travel, apparel, and more. BharatPe CEO (Interim) – Nalin
Negi
6. Cashfree Payments tie up with YES Bank to offer
international payment collection: Cashfree Payments and YES Bank have partnered to offer ‘Global
Collections’, an international collection service for exporters, who are
account holders of YES Bank. Under this partnership, the bank’s account holders
will be able to collect payments in over 30 foreign currencies using the Global
Collections service. The funds so received can then be converted into rupee and
settled into their local bank account in India within one business day. Additionally,
it will also enable global collections in over 30 currencies up to the
equivalent of USD 10,000 in line with the Reserve Bank of India’s (RBI’s)
Online Payment Gateway Service Providers (OPGSP) requirements and guidelines.
AWARDS AND HONOURS
1. Barbara
Kingsolver and Hernan Diaz win Fiction Pulitzer Prize 2023: Barbara Kingsolver (American Novelist) and Hernan
Diaz (Argentina Writer) were awarded the Pulitzer Prize 2023 in the
fiction category. Barbara Kingsolver was awarded for her novel 'Demon
Copperhead' and Hernan Diaz won for his novel 'Trust'.
Other
categories:
· Drama: English, by Sanaz Toossi
· Biography: G-Man: J. Edgar Hoover and the Making of the American
Century, by Beverly Gage (Viking)
· Memoir or Autobiography: Stay True, by Hua Hsu (Doubleday)
OBITUARY
1. Renowned Bengali author Samaresh Majumdar passes away: Renowned Bengali author Samaresh Majumdar passed away at 79. He was best known for his political trilogy – Uttaradhikar, Kalbela, and Kalpurush. He has conferred the Sahitya Akademi Award for ‘Kalbela’, which was set against the backdrop of the Naxalite movement. He was awarded ‘Bangavibhushan’ by the West Bengal government in 2018. Famous books are: Daur, Kalbela, Kalpurush, Garbhadharini, Uttaradhikar, Arjun Samagra, Satkahan etc
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