Daily GK Update- 10th June, 2023

NATIONAL UPDATES:

 

1. Minister Sarbananda Sonowal launches ‘SAGAR SAMRIDDHI’: Union Minister of Ports, Shipping & Waterways (MoPSW), Sarbananda Sonowal launched ‘SAGAR SAMRIDDHI’, an online dredging monitoring system. Aim: To accelerate ‘Waste to Wealth’ initiative of the Ministry This system has been developed by National Technology Centre for Ports, Waterways and Coasts (NTCPWC) the technological arm of MoPSW. The new technology brings in marked improvement against the old system of Draft & Loading Monitor (DLM) system.

 

2. ICAR signs a MOU with Amazon Kisan to empower farmers: ICAR has signed a MoU with Amazon Kisan to combine strengths and create synergy between the two organizations. Aim: To guide the farmers on scientific cultivation of different crops for optimum yield and income ICAR will provide technological backstopping to the farmers through Amazon’s network It will improve farmers’ livelihood and boost crop yield. This MoU will help ensuring access to high quality fresh produce for consumers across India.

 

3. Madhya Pradesh govt launched ‘Ladli Bahna’ scheme: MP government has launched ‘Ladli Bahna’ scheme to make women financially independent. In this scheme, each woman will be given 1000 rupees per month. MP CM Shivraj Singh Chouhan has deposited the first month's amount of this scheme in the bank accounts of about 1.25 crore women at a State-level function in Jabalpur. The State government has also issued a phone number 181 for the help of women. Ladli Bahna Army also formed for women empowerment and security.

 

4. IICA and RRU sign MoU for academic and research collaboration: Indian Institute of Corporate Affairs (IICA) and Rashtriya Raksha University (RRU) signed an MoU for academic and research collaboration. Aim: To synergise the professional capabilities towards capacity building, education, research and consulting in the domain of Internal Security, Financial Crimes, Law Enforcement, Corporate Frauds and other subject matters common to their mandate and objectives It provides for exchange of knowledge and resources

 

5. IGI Airport introduces DigiYatra facility: Indira Gandhi International Airport (IGI) has introduced a new facility DigiYatra to make travel easier. DigiYatra allows passengers to enjoy the benefits without having to download the mobile application. The initiative has been launched at Terminal 3 and it simplifies the registration process for the passengers into three steps. Passengers can use this facility by scanning the boarding pass and face along with presenting identification proof to the security staff deployed near the registration desk. Once registered successfully, passengers will be able to experience seamless travel within the terminal, which includes the security check area and the boarding gates.

 

 

INTERNATIONAL UPDATES:

 

1. Microsoft launched voice chat feature to AI-powered Bing Chat: Microsoft has launched a new 'voice chat' feature to its AI-powered Bing Chat on the desktop. Aim: It will help users to talk to the AI chatbot by clicking on the microphone icon in the Bing Chat box Currently, the voice chat feature supports five languages- English, Japanese, French, German, and Mandarin. More languages will be added soon. Bing Chat supports text-to-speech answers, which will respond to your questions in its own voice.

 

2. WHO report highlights significant impact of 'Har Ghar Jal' Programme: The  World Health Organisation (WHO) report has highlighted significant impacts of 'Har Ghar Jal' Programme on public health and economic savings. The report on ‘Har Ghar Jal’ estimates that ensuring safely managed drinking water for all households in the country. The ‘Har Ghar Jal’ report focuses on diarrheal diseases as they contribute significantly to the overall disease burden related to water, sanitation, and hygiene issues.

 

3. US, UK back new 'Atlantic Declaration' for economic cooperation: Britain and the United States have backed a new "Atlantic Declaration" or greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence. The joint declaration described the partnership covering the broad spectrum of the two countries' economic, technological, commercial and trade relations. They will strengthen their supply chains, develop technologies of the future and invest in one another's industries.

 

4. WHO, Global Fund announce commitment for enhanced collaboration: The WHO and the Global Fund to Fight AIDS, Tuberculosis and Malaria signed a new Strategic Framework. Reason: For Collaboration to build stronger and more resilient health systems and maximize collaboration and impact in support of country, regional and global responses to major communicable diseases. The new five-year framework builds on the previous agreement signed in 2018. It aligns with the 2023-2028 Global Fund Strategy and the WHO General Programme of Work.

 

5. Ritu Kalra named Harvard’s vice president for finance and CFO: Investment banking and financial management expert of Indian-American origin, Ritu Kalra has been appointed as the vice president for finance and chief financial officer at Harvard University. Kalra is currently serving as the assistant vice president of finance and treasury, as well as a special projects adviser within the university. As the vice president for finance and CFO, Kalra will oversee various important areas including research administration, strategic procurement, capital planning, and risk management. Leading a dedicated team of over 200 professionals, she will be responsible for managing multiple financial departments.

 

OTHER UPDATES:

 

SPORTS

 

1. Japanese Tokito Oda becomes Youngest Grand Slam Wheelchair Champion 2023: Japan's Tokito Oda (17) has defeated top-ranked Alfie Hewett from Britain 6-1, 6-4 to win the 2023 French Open wheelchair Men's singles title. With this win, he also become the sport's youngest Grand Slam champion. While Diede de Groot from Netherlands has secured the 2023 French Open – Wheelchair women's singles. Alfie Hewett and Gordon Reid (Britain) won the Men's Double title, and Yui Kamiji and Kgothatso Montjane won the Women's Double title.

 

2. Manchester City becomes most valuable football club in Europe: Manchester City has become the most valuable football club in Europe after replacing Real Madrid. City, who play Inter Milan in Champions League final in Istanbul, came out on top with a valuation of 4.073 billion euros ($4.39 billion) Real Madrid’s value was at 4.006 billion euros. Manchester City, who were taken over by the Abu Dhabi United Group in 2008, recorded revenue for last season of £613 million ($769.5m), the second-highest revenue figure in English club history after Manchester United’s annual revenues hit £627 million in 2019.

 

BANKING AND FINANCE

 

1. RBI notifies 4 key measures to strengthen 1,514 Urban Co-operative Banks: RBI has notified four key measures to strengthen 1,514 Urban Co-operative Banks (UCBs) in the country. UCBs can now open new branches up to 10% of the number of branches in the previous financial year without prior approval of RBI in their approved area of operation. UCBs have to get the policy approved by their board and comply with the Financially Sound and Well Managed Norms. The deadline to achieve PSL target of 60% also extended to March 31, 2024.

 

2. Federal Bank launches ‘I am Adyar, Adyar is me’ campaign: Federal Bank has launched ‘I am Adyar, Adyar is me’ campaign in Chennai. The campaign aims to honour and celebrate the local community of Adyar. The Adyar branch of Federal Bank has been converted into a living museum for the campaign. The I am Adyar, Adyar is me’ campaign has handpicked 40 compelling stories of individuals, which are showcased in an exclusive exhibition at the Adyar branch of Federal Bank. This art exhibition will run for two weeks between 10 a.m. and 6 p.m. The campaign is a first-of-its-kind micro-marketing initiative in the banking industry, which is aimed to showcase the soul of Adyar, including its people’s struggles and triumphs which make it special.

 

3. RBI permits FLDG between fintechs and banks, NBFCs: The Reserve Bank of India (RBI) has approved the First Loss Default Guarantee (FLDG) framework, allowing fintech to partner with banks and non-Banking financial companies (NBFCs). The central bank has allowed a 5% default loss cover for bank-fintech deals. The RBI had earlier specified that banks and NBFCs must abide by securitization norms before entering into any guarantee arrangement. Subject to certain guidelines, the RBI has decided to permit arrangements between regulated entities and lending service providers or between two regulated entities involving default loss guarantee. The limits are aimed at reining in the risk of large slippages in tie-ups between lenders and fintech.