Daily GK Update- 13th June, 2023

NATIONAL UPDATES:

 

1. Industrial Output of India rise to 4.2% in April 2023: According to the Ministry of Statistics and Programme Implementation data, the index of industrial production (IIP) in India has increased to 4.2% on an annual basis in April 2023 from 1.1% in March 2023. Manufacturing sector output rose to 4.9% in April 2023 against 5.6% and Power generation declined by 1.1% in April 2023 against a growth of 11.8% Mining output rose by 5.1% during the month under review compared to a growth of 8.4% in the year-ago period

 

2. Centre releases the third installment of tax devolution to states: The Union Government has released the third instalment of tax devolution to State governments amounting to 1,18,280 crore rupees, as against the normal monthly devolution of 59,140 crores. One advance instalment in addition to the regular instalment due in June is being released to States. Reason: To speed up capital spending and finance their development and welfare-related expenditure UP received the highest share of Rs 21,218 crore and Goa the least at Rs 457 crore

 

3. Department of Ex-Servicemen Welfare signs an MoU with private sector: Directorate General Resettlement (DGR) under the Department of Ex-Servicemen Welfare signed an MoU with the M/s Kotak Mahindra Life Insurance Company Limited on 12 June 2023 in New Delhi. Aim: To bring the corporate companies and Ex-Servicemen on a common platform to generate employment opportunities for the esteemed Ex-Servicemen of the Defence Services This partnership would bring in more visibility of our Ex-servicemen to the industry and corporates.

 

4. Centre constitutes peace committee in Manipur under governor: The central government has formed a Peace Committee in Manipur to facilitate peace among ethnic groups in the state. The committee is chaired by the governor of Manipur and includes members from political parties, civil servants, educationists, artists, and social workers. The committee’s mandate is to strengthen social cohesiveness between various ethnic groups in the state.

 

5. IIT-Madras generates hydrogen from seawater using solar energy: Researchers from the Department of Physics at IIT-Madras have developed critical components for a highly efficient, cost-effective way to electrolyze seawater to generate hydrogen. The results were published in the journal ACS Applied Energy Materials. State-of-the-art alkaline water electrolyzer technology is energy-intensive, requires an expensive oxide-polymer separator, and uses fresh water for electrolysis. We found our separator is highly resistant to seawater degradation said Sana Fathima, co-authors of the paper. The IIT-Madras team led by Dr. Ramaprabhu Sundara has addressed each of these challenges by developing simple, scalable and cost-effective alternatives that are highly efficient in splitting seawater and generating hydrogen

 

 

INTERNATIONAL UPDATES:

 

1. Indo-Maldives joint military exercise “Ekuverin” commenced in Uttarakhand: The 12th edition of a joint military exercise between the Indian Army & the Maldives National Defence Force, 'Ex Ekuverin' is being commenced at Chaubatia, Uttarakhand from 11 to 24 June 2023. Ekuverin meaning ‘Friends’, is a bilateral annual exercise conducted alternatively in India and Maldives. Aim: To enhance the interoperability in Counter Insurgency/ Counter Terrorism Operations under the UN mandate The 11th edition of the exercise was held in Maldives in 2021.

 

2. 'The Snow Forest', authored by Elizabeth Gilbert will be released: The book titled, 'The Snow Forest', authored by Elizabeth Gilbert will be released in February 2024. This book is published by Bloomsbury. The novel, “The Snow Forest”, is inspired by the true story of the family of religious hermits discovered in Siberia in 1978 who had escaped early 20th century Russia for a life in one of the most inhospitable and uninhabited places on earth. He has also authored 'Eat, Pray, Love'.

 

3. International Albinism Awareness Day 2023: 13 June: International Albinism Awareness Day is observed annually on June 13 to ensure the inclusion of the voices of persons with albinism in all sectors of life. 2023 theme: Inclusion is Strength Albinism is a genetic condition that can lead to the absence of melanin production in the human body. In 2013, the United Nations Human Rights Commission passed a resolution called Attacks and discrimination against persons with albinism.

 

4. UAE emerges as 4th largest investor in India during FY23: The United Arab Emirates (UAE) has emerged as the fourth largest investor in India during 2022-23, according to government data. The United Arab Emirates (UAE) was signed a comprehensive free trade agreement with India in May last year. In the last fiscal, foreign direct investment (FDI) from the UAE to India jumped over three-fold to USD 3.35 billion from USD 1.03 billion in 2021-22, the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by Mauritius (USD 6.1 billion) and the US (USD 6 billion). UAE’s investments in India are mainly in sectors like services, sea transport, power, and construction activities. One of the crucial factors for the increase in foreign direct investment (FDI) from UAE is the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and UAE on February 18, 2022 (effective from May 1, 2022).

 

5. Pieter Elbers appointed as Chair-elect of IATA’s Board of Governors: Pieter Elbers has been elected as the chair-elect of the International Air Transport Association (IATA) Board of Governors. He will succeed Yvonne Manzi Makolo, the CEO of Rwandair, with effect from June 2024. As the chair-elect of the IATA BoG, Elbers will play a pivotal role in further shaping the global aviation landscape, advocating for the industry’s interests, and driving innovation and sustainability initiatives.

 

OTHER UPDATES:

 

SPORTS

 

1. World Cup Squash Championship begins in Chennai: The World Cup Squash championship is being organized in Chennai, Tamil Nadu on June 13, 2023, after a gap of 12 years. It was formally inaugurated by the State Minister for Youth Affairs and Sports Udhayanidhi Stalin. On the first day, India will play against Hongkong and China in the pool B matches and in another match Japan will play against South Africa. Each match will be played to the best of five games, each to seven points with a total of 11 points in general.

 

2. Uruguay beat Italy 1-0 to win maiden FIFA U-20 World Cup: Uruguay beat Italy 1-0 to win its first FIFA U-20 World Cup 2023. The Celeste's victory ends a streak of four consecutive wins of European teams in the tournament. Luciano Rodríguez scored the winning goal in the 86th minute with a header from close range, giving Uruguay a much-deserved victory after an entire match of dominance against Italy. Earlier, debutant Israel beat South Korea 3-1 to secure third place in the same stadium in La Plata.

 

3. Novak Djokovic won the French Open 2023 Men’s Singles Final: Serbian Tennis Player, Novak Djokovic has won the French Open 2023 men’s singles final, clinching his 23rd Grand Slam title.

Djokovic beat Norwegian Casper Ruud 7-6 (1), 6-3, 7-5 in the final at Roland Garros. Djokovic also broke Nadal’s record as the oldest French Open singles champion. He became the first man to win all four tennis majors at least three times, joining three women who did so (Serena Williams, Steffi Graf and Margaret Court). Novak Djokovic has become the first man to reach the 23rd Grand Slam title.

 

4. Nick Taylor becomes first Canadian Champion since 1954: Nick Taylor has become the first Canadian in 69 years to win his national Open, holing a 72-foot eagle putt on the fourth playoff hole to beat Tommy Fleetwood in the RBC Canadian Open. The last player from Canada to win the Canadian Open was Pat Fletcher in 1954 at Point Grey in Vancouver. Fletcher was born in England; Carl Keffer had been the only Canadian-born champion, winning in 1909 and 1914.

 

BANKING AND FINANCE

 

1. Indian Overseas Bank launched 'My Account My Name' feature: In a first-of-its-kind move in the banking sector, Indian Overseas Bank has launched a Unique feature named 'My Account My Name' for IOB SB HNI and IOB SB MAX account holders. This feature allows customers to choose any name as their account number. The account name can only be a numeric, alphabetic, or alphanumeric combination of seven characters. For example, a customer's account number can be 'Jackson' or '1234567' or 'Jack123.

 

2. RBI penalizes Bihar State Co-op Bank Rs 60.20 lakh: RBI has imposed a penalty of Rs 60.20 lakh on The Bihar State Co-operative Bank Limited, Patna for a slew of shortcomings and violations. A statutory inspection of the Patna-based bank by Nabard after FY20 revealed that it failed to put in robust software for identifying and reporting suspicious transactions and submit statutory returns within prescribed timelines. The RBI also imposed a monetary penalty of Rs 6 lakh on Jowai Cooperative Urban Bank Limited, Meghalaya.

 

3. MRF becomes first stock in India to hit Rs 1 lakh per share mark: MRF became the first Indian stock to touch the rupee one lakh per share mark on June 13, 2023. The stock opened at ₹99,500 on BSE against the previous close of ₹98,939.70 and touched an all-time high of ₹1,00,300 in morning trade. The stock has witnessed strong gains in the last one year. It is up 45% in the last one year against a 19% gain in the benchmark Sensex. MRF shares hit their 52-week low of ₹65,900.05 on BSE on June 17, 2022.

 

4. Equitas Holdings surrenders NBFC licence to RBI: The Reserve Bank of India has informed Equitas Holdings Ltd has surrendered its NBFC licence and accordingly, its registration has been cancelled.  The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR (certificate of registration). Reason: The company does not hold public funds Therefore, it may have voluntarily surrendered its certificate of registration.

 

5. SBI to raise Rs 50,000 crore in FY24: The central board of State Bank of India (SBI) has approved raising of funds aggregating ₹50,000 crore via issuance of debt instruments, including capital instruments in FY24. The board’s approval is for raising funds in the Indian rupee and/or any other convertible currency by issue of debt instruments, including but not limited to Long Term Bonds, Basel III-compliant Additional Tier 1 Bonds, Basel III-compliant Tier 2 Bonds. The resources will be raised through private placement mode to Indian and/or overseas investors during FY24, subject to the government’s approval wherever required. SBI had raised funds aggregating about ₹38,850 crore through issuance of infrastructure bonds, Tier-2 bonds and AT-1 bonds in FY23.

 

OBITUARIES

 

1. Former Italian PM Silvio Berlusconi passes away: Former Italian prime minister and billionaire, Silvio Berlusconi has passed away at 86 in Milan, Italy. Berlusconi founded Forza Italia, a center-right party, in 1994 with the aim of defeating the 'communists'. His party introduced a populist style of politics in Italy, propelling him to the upper ranks of the political establishment. He was also known as 'Il Cavaliere' (The Knight) and remained a flamboyant and influential figure in Italian politics.

 

2. Bollywood Actor Mangal Dhillon passes away: A renowned Bollywood actor, Mangal Dhillon passed away. He was known for his remarkable acting prowess and memorable performances in shows like ‘Junoon’ and ‘Buniyaad’. Dhillon was seen alongside Rekha in the film Khoon Bhari Maang, and his repertoire includes notable movies such as Dayavan, Zakhmi Aurat, Vishwatma, Pyaar Ka Devta, Amba, Toofan Singh, Dalaal, among others. In addition to his achievements in films, Dhillon left an indelible impact on the small screen, featuring in popular television shows like Katha Sagar, Kismat, Ghutan, Rishta and Param Vir Chakra, among others.