Daily GK Update- 27th June, 2023

NATIONAL UPDATES:

1.   Centre approves Rs 56,415 crore for 16 states under capex scheme: The Finance Ministry has approved an investment of worth Rs 56,415 crore in 16 states as part of the 'Special Assistance to States for Capital Investment 2023-24’ scheme. Aim: To boost capital spending by states The Department of Expenditure has approved investment projects in several sectors including health, education, roads, and railways among others. It has also included the state share of two projects - Jal Jeevan Mission and Pradhan Mantri Gram Sadak Yojana

 

2.   Ministry of Agriculture signed an MOU with Pixxel Space India: Ministry of Agriculture has signed an MOU with Pixxel Space India Pvt. Limited to develop various geospatial solutions on a pro bono basis for the Indian Agriculture Ecosystem, with the help of Pixxel’s hyperspectral dataset. This project focuses on leveraging sample hyperspectral data from Pixxel’s pathfinder satellites. It will develop analytics models focused on crop mapping, crop stage discrimination, crop health monitoring, and soil organic carbon assessments.

 

3.   Union Minister Parshottam Rupala launches NANDI: Union Fisheries, Animal Husbandry and Dairying Minister Parshottam Rupala today launched NANDI (NOC Approvals for New Drugs & Inoculation System). This portal has been developed to pave the way to a resilient Animal Health Sector in India by streamlining and digitizing the regulatory approval process. Aim: To speed up the process to assess and examine the safety, efficacy, and essentiality of veterinary product proposals received in the Department

 

4.   Bengaluru airport launches BLR Pulse app for passengers: Bangalore International Airport Limited has created a personalised digital travel buddy named BLR Pulse to cater to the needs of flyers. It is an omnichannel platform, developed in collaboration with GrayMatter Software Services. It will allow passengers to navigate within the terminal buildings and provide essential information about the airport in real-time. The interactive chatbot feature in the app will enable a self-sufficient mode of finding answers.

 

5.   IAF carries out Exercise Ranvijay with focus on integrated operations: The Indian Air Force (IAF) carried out Exercise Ranvijay in UB Hills and Central Air Command Area of Responsibility from June 16-23. The focus was on Integrated operations while optimally exploiting the electronic warfare capabilities The exercise was carried out from different air bases of the command headquartered in Prayagraj. Different IAF commands have been carrying out wargames and aerial drills to enhance jointness with the other two services

 

6.   India’s first hydrogen-powered train to run from Jind district, Haryana: The first hydrogen- powered trains in India are expected to start from the Jind district of Haryana by the end of 2023. The officials claimed that hydrogen-powered trains are running only in Germany, and the whole world is watching the project to see how India will start such trains. India’s first hydrogen plant

is being set up near the railway junction in Jind district. The development of the plant has reached the final stage and hydrogen will be produced from water. The first prototype of the hydrogen train is expected to be introduced in the financial year 2023-2024 between Jind and Sonipat on the Northern Railway. The hydrogen fuel-based train of eight bogies will be environmentally friendly.

 

7.   Assam govt to build 1st underwater tunnel between Numaligarh & Gohpur: Assam’s first underwater tunnel to be constructed between Numaligarh and Gohpur at a cost of Rs 6,000 crore. This groundbreaking project, estimated to cost Rs 6,000 crores, will be the first rail-road tunnel under the Brahmaputra River in northeast India. By connecting the north and south banks of the river, the tunnel will significantly improve connectivity between Numaligarh and Gohpur, making travel more convenient and efficient. With a length of approx 15 kilometers, it will bring about a transformational change in the transportation infrastructure of the region. The tenders for the project are scheduled to open next month, marking a significant milestone in the region’s transportation infrastructure.

 

8.   U20 Engagement Group of G20 to host 2 Days Mayoral Summit in Ahmedabad: The city of Ahmedabad is all set to host the Urban20 (U20) Mayoral Summit on 7-8 July 2023. This Mayoral Summit is expected to bring together several city leaders and Mayors from across G20 nations. The summit will also be attended by delegates representing various cities, knowledge partners, Indian and international organizations, academic institutes and dignitaries from the Government of India and the State Government. Ahmedabad is the U20 Chair for the current sixth cycle and is supported by the National Institute of Urban Affairs (NIUA) as the Technical Secretariat, and the Ministry of Housing and Urban Affairs (MoHUA) as the nodal ministry.

 

9.     BSNL partners with L&T to offer private 5G network to businesses: IT company L&T Technology Services has partnered with state-owned Bharat Sanchar Nigam Limited (BSNL) for the deployment of private 5G network for enterprise customers. Under the agreement framework signed by both companies, the spectrum will be provided by BSNL using both PLMN (public land mobile network) and isolated allotment. L&T Technology Services (LTTS) will anchor the private network requirements by deploying equipment, applications, servers, technology and software, and core for the integration of devices and sensors within the customer’s ecosystem, the IT firm. This partnership marks LTTS’ foray into the 5G private network space, with LTTS assuming the role of a master system integrator for customers, offering choice of technologies, equipment and use case buildout, while BSNL will be the official network provider.

 

INTERNATIONAL UPDATES:

1.    Kyriakos Mitsotakis sworn in as Prime Minister of Greece for a second term: Kyriakos Mitsotakis has been sworn in as the PM of Greece for a second term, after winning the Prime

Minister election. He took the oath of office in the presidential palace at a ceremony. In the election, he bagged 40.55% of the votes, more than twice the main opposition Syriza’s 17.84%. He vowed to accelerate institutional and economic reforms. He became the PM for the first time in 2019 when his party defeated Syriza in an election.

 

2.   World MSME Day 2023: 27th June: World MSME Day is observed on June 27 every year to raise awareness about the importance of micro, small, and medium-sized enterprises in promoting inclusive and sustainable development worldwide. The Global Council for the Promotion of International Trade is celebrating the day with “Building a Stronger Future Together" theme of this year. The theme of MSME Day 2023 in India is “Future-ready MSMEs for India@100."

 

3.    Historian David Hardiman’s new book released: Historian David Hardiman has released his new book 'Non-Cooperation in India: Non-Violent Strategy and Protest'. It is published by Westland Books. The non-cooperation movement by the Indian National Congress (INC) was the first mass movement organized nationwide during India’s struggle for freedom, which was organized and led by Gandhi Ji. The book is comprising seven chapters and is a detailed account of India’s first mass movement.

 

4.   Global Competitiveness Index 2023: India at 40: India has ranked 40th on the latest world competitiveness ranking released by the International Institute for Management Development (IMD). The country has slipped three spots from last year, but is still positioned better than the 43rd rank in 2019-21. According to the IMD’s World Competitiveness Centre (WCC) report, India progressed in government efficiency but lagged in business efficiency, infrastructure and economic performance. Key contributing factors to the country’s score were exchange rate stability, compensation levels and advancements in pollution control. Out of the 64 economies ranked in the annual report, Denmark, Ireland and Switzerland claimed the top three spots, while the Netherlands, Taiwan, Hong Kong, Sweden, the US and the UAE completed the top 10.

 

5.    Kyriakos Mitsotakis sworn in as Greece’s PM: The leader of Greece’s centre-right New Democracy party, Kyriakos Mitsotakis was sworn in as Prime Minister for a second term. Greek President Katerina Sakellaropoulou is set to formally hand over Mitsotakis, the mandate to form a government, after which he will be sworn in and announce his new Cabinet. With 99.67 percent of the vote counted, New Democracy secured 40.55 percent of the vote, more than twice the percentage obtained by the main opposition party, Syriza.

 

6.   27 June – World MSME Day: International Micro, Small, and Medium Enterprises (MSME) Day or World MSME Day is observed every year on 27 June. Objective – To highlight the significance of MSMEs and how they play a crucial role in being the backbone of the country’s economy. Theme 2023 – Future-ready MSMEs for India@100 The United Nations (UN) designated 27th June as Micro, Small and Medium-sized Enterprises Day through a resolution passed in the UN General Assembly in April 2017. In May 2017, a program titled ‘Enhancing

National Capacities for Unleashing Full Potentials of MSMEs in Achieving the Sustainable Development Goals (SDGs) in Developing Countries was launched.

 

OTHER UPDATES:

SPORTS

 

1.   FIFA U-17 World Cup to be hosted by Indonesia: The International Federation of Association Football (FIFA) has confirmed that the 2023 U-17 World Cup will be hosted by Indonesia. Initially, the host of the youngest World Cup event was Peru. This announcement was made after the FIFA Council meeting in Zurich, Switzerland. FIFA also announced Colombia as the host of the 2024 U- 20 Women's World Cup and Dominica as the host of the U-17 Women's World Cup. FIFA President: Gianni Infantino

 

2.   Diksha Dagar wins record second ladies European tour event title: Indian golf player, Diksha Dagar has secured her second Ladies European Tour (LET) at the Tipsport Czech Ladies Open 2023. In the final, she defeated Trichat Cheenglab of Thailand. The 22-year-old southpaw Diksha won her first LET title back in 2019 in her rookie year and in 2021 she was part of the winning team at the Aramco Team Series in London. After Aditi Ashok, Diksha Dagar is the only other Indian woman golfer to have won two or more LET titles. She represented India at the Tokyo 2022 Olympics.

 

BANKING AND FINANCE

 

1.   ICICI Lombard launches insurance products for MSMEs: ICICI Lombard has launched three insurance products focusing on MSMEs — MSME Suraksha Kavach Policy, Property All Risk (PAR) Policy, and i-Select Liability. Aim: To make MSMEs more risk aware and provide them with the benefit of comprehensive coverage to safeguard their businesses MSME Suraksha Kavach Policy protects MSMEs against loss or damage to property due to defined insured perils.

PAR policy covers a range of properties against damage caused by accidents

 

2.      DBS Bank India appoints Rajat Verma as Managing Director: DBS Bank India has appointed Rajat Verma as managing director and head of institutional banking. He will succeed Niraj Mittal, who will be taking up a new role as country head of DBS Bank in Australia. Rajat Verma was formerly with HSBC as the MD and country head of Commercial Banking in India. He will lead the growth of the institutional banking franchise for DBS Bank in India given the significantly expanded footprint of the lender.

 

3.  S&P retains India's growth projection at 6% for FY24: S&P Global Ratings has retained India's GDP growth forecast at 6% for 2023-24. Reason: The fastest growing economy among Asia Pacific nations In its quarterly economic update for Asia-Pacific, S&P Global Ratings forecasted the same

growth for Vietnam and the Philippines alongside India. In its latest report, S&P has kept the GDP growth forecast for India unchanged for the current and the next fiscal, FY25 partly on account of domestic resilience.

 

4.    Infosys bags $454-million deal from Danske Bank: IT major Infosys has bagged a digital transformation deal from Denmark-based Danske Bank estimated to be around USD 454 million for five years. As part of the strategic collaboration with Danske Bank, Infosys will acquire Danske Bank’s IT centre in India, which employs 1400 digitally skilled professionals This collaboration will help Danske Bank achieve its strategic priorities towards better customer experiences, operational excellence, and a modernized technology landscape, powered by next-gen solutions. Infosys was selected to help with the bank’s technology transformation, optimize access to talent and capabilities. Chief Executive Officer and Managing Director of Infosys – Salil Parekh

 

5.    Aditya Birla Sun Life Insurance launches ‘Nishchit Pension Plan’: Aditya Birla Sun Life Insurance Company Limited, the life insurance subsidiary of Aditya Birla Capital Limited, has launched ‘Nishchit Pension Plan’. It is a non-linked, non-participating individual pension plan that enables the policyholders to plan for their retirement. ABSLI Nishchit Pension Plan provides accrued guaranteed additions during the policy term and loyalty addition at the end of the policy term, provided the policy is in-force and all due premiums have been paid. Under this plan, the policyholders will be able to accumulate 100 percent guaranteed corpus at desired retirement age and will get to be a benefactor of uninterrupted guaranteed income, post their retirement. The plan also provides the flexibility to defer vesting benefit by up to 10 years. Under this plan, the insurer provides accrued guaranteed additions during the policy term and loyalty addition at the end of the policy term. Policyholders can choose from multiple premium payment term options, ranging from 5, 6, 8, 10, 12 years & Regular Pay options. The maximum entry age to avail ABSLI Nishchit Pension Plan is 65 years, while the minimum entry age is 30 years. The minimum annualized premium is Rs. 20,000. The maximum age to avail the vesting benefit is 75 years, while the minimum vesting age is 45 years.

 

AWARDS AND HONOURS

 

1.    Alappuzha doctor, K. Venugopal bags Indian Medical Association (IMA) award: A Chief Consultant in Respiratory Medicine at General Hospital, Alappuzha, Dr. K. Venugopal has been selected for an award instituted by the Indian Medical Association (IMA) to commemorate National Doctors’ Day on July 1. He was selected under the category of community service. He will receive the award at a function to be held at IMA headquarters in New Delhi on July 1. Indian Medical Association was Formed in 1928 & is Headquartered in New Delhi.

 

2.     PM Modi conferred Egypt’s highest state honour: Prime Minister Narendra Modi was awarded the ‘Order of the Nile,’ Egypt’s highest honor, by President Abdel Fattah El-Sisi during a ceremony at the Presidential palace in Cairo. This is the 13th such highest state honour that various countries across the world have conferred upon PM Modi. In the nine years of his tenure,

PM Modi has received many international awards including Legion of Merit by the US Government, Companion of the Order of Fiji, and Ebakl Award by the Republic of Palau among others. The ‘Order of the Nile’ was established in 1915 and is bestowed upon heads of states, crown princes, and vice presidents who have rendered invaluable services to Egypt or humanity. During the first bilateral visit by an Indian Prime Minister to Egypt in 26 years, India and Egypt elevated their relationship to a ‘Strategic Partnership’ following extensive discussions between Modi and El-Sisi.

 

3.  Priya A.S. received Sahitya Akademi Award 2023 for children’s literature: Indian writer, Priya A S has been named the prestigious (Kendra) Sahitya Akademi Bal Sahitya Puraskar 2023. She was awarded for children’s literature in Malayalam for her 2018 novel Perumazhayathe Kunjithalukal. She also won the Kerala Sahitya Akademi Award for Children’s Literature for the same novel in 2020. The (Kendra) Sahitya Akademi Bal Sahitya Puraskar consists of Rs 50,000 and an engraved copper plaque. Panels of three members each picked the winners in each language. Dr Paul Manalil, B S Rajeev, and Mundoor Sethumadhavan were the jury members for Malayalam. Priya’s novel was selected from a list of 10 recommended books. In 2014, Priya won (Kendra) Sahitya Akademi Translation Prize for translating Arundhati Roy’s Booker Prize-winning novel The God of Small Things into Malayalam.

 

4.   Alappuzha doctor K Venugopal selected for IMA award: A doctor at Alappuzha’s General Hospital, Dr K Venugopal has been honored by the Indian Medical Association (IMA) for his contribution to the medical field. K Venugopal has been selected for the award in the category of community service. He will receive the award at a function to be held at IMA headquarters in New Delhi on July 1, 2023. The award was instituted by the IMA on the occasion of National Doctor’s Day.