Daily GK Update- 18th July, 2023

NATIONAL UPDATES:

 

1. Shantanu Deshpande appointed as new MD of Michelin India: French-based company Michelin has confirmed the appointment of Shantanu Deshpande as MD of Michelin India. He will be based out of Pune, India. During his career, he held various leadership roles in sales and marketing in India, North America, Africa, the Middle East, and Asia. He joined Michelin India in 1999 as an Area Sales Manager. He was appointed India Marketing Director in 2007 and also served as VP of Marketing with a Michelin subsidiary in North America.

 

2. NITI Aayog releases Export Preparedness Index 2022 report in New Delhi: NITI Aayog Vice Chairman, Suman Bery has released the third edition of the Export Preparedness Index 2022 report in New Delhi. Prepared by: NITI Aayog and Institute for Competitiveness Evaluate 4 pillars: Policy, Business Ecosystem, Export Ecosystem, and Export Performance Top Performers: (1) TN, (2) Maharashtra, (3) Karnataka, and (4) Gujarat The higher average of coastal states represents their better preparedness and higher contribution to national export.

 

3. HM Amit Shah to launch 'CRCS-Sahara Refund Portal': nion Home and Cooperation Minister Amit Shah has launched the ‘CRCS-Sahara Refund Portal’ Aim: To strengthen the cooperative movement in the country and to protect the interests of the members of the cooperatives SC directed that 5000 crore rupees be transferred out of the ‘Sahara-SEBI Refund Account’ to the Central Registrar of Cooperative Societies for disbursement against the legitimate dues of the genuine depositors of the Sahara Group of Cooperative Societies. 

 

4. Oil 2023 (Analysis & forecast to 2028) medium-term market report: The International Energy Agency (IEA) has launched the Oil 2023 medium-term market report, titled 'IEA Oil 2023 – Supply and demand dynamics to 2028' in New Delhi. It was launched in collaboration with the Petroleum Planning and Analysis Cell (PPAC). As per the report, biofuel production expands by nearly 600 kb/d from 2022 to 2028, with Brazil, Indonesia, and India combined accounting for 70% of this increase.

 

5. 135 mn Indians came out of poverty trap in five years: Niti Aayog report: NITI Aayog released the 'National Multidimensional Poverty Index: A Progress of Review 2023' in New Delhi. As per the report, India witnessed 13.5 crore people moving out of multidimensional poverty between 2015-16 and 2019-21 with the fastest reduction in UP, Bihar, MP, Odisha, and Rajasthan. The National MPI measures deprivations across three equally weighted dimensions of health, education, and standard of living that are represented by 12 SDG-aligned indicators.

 

6. Union govt establishes new panel to review all surveys conducted under NSO: The government has set up a new oversight mechanism for official data, replacing the Standing Committee on Economic Statistics (SCES) with a Standing Committee on Statistics (SCoS). The SCES was tasked with examining economic indicators pertaining to the industrial sector, the services sector, and the labor force statistics. The former Chairman of the National Statistical Commission, Pronab Sen has been named the new chair of the committee.

 

7. Govt launches sale of subsidised chana dal under brand name 'Bharat Dal': Consumer Affairs Minister Piyush Goyal has launched the sale of subsidized Chana Dal under the brand name ‘Bharat Dal’ at the rate of 60 rupees/Kg for one-kilogram-pack and 55 rupees/Kg for a 30-kilogram pack. Aim: To make pulses available to consumers at affordable prices The retail outlets of the NAFED in Delhi-NCR are selling the chana dal. The milling and packaging of the Chana Dal has been undertaken by NAFED for distribution through its retail outlets in Delhi-NCR

 

8. Andhra Pradesh introduces cashless payment at inter-state check posts: Andhra Pradesh transport department has introduced a UPI payments system at inter-state check posts to curb corruption. The policy will support the Chief Minister’s directives toward corruption-free administration without any intermediaries. The new policy has been implemented at 15 check posts of the transport department across the state. Further, people can pay border tax, temporary permit tax, voluntary tax, compounding fee, etc by scanning the QR code. The State has interstate checkposts with Karnataka, Tamil Nadu, Odisha and Telangana.

 

9. Arvind Kumar appointed chairman of UP Electricity Regulatory Chief: Arvind Kumar has been appointed as the chairman of Uttar Pradesh Electricity Regulatory Commission (UPERC). Kumar succeeds Raj Pratap Singh whose tenure ended in June. Kumar, a 1988 batch IAS officer, earlier headed the state energy department and was also the chairman of UP Power Corporation Ltd (UPPCL) and the state’s Infrastructure and Industrial Development Commissioner (IIDC). He was also instrumental in framing the state’s industrial policy. Kumar was appointed as an advisor on industries to the Uttar Pradesh chief minister Yogi Adityanath in February 2023. He was also the chairman of UP Power Corporation Ltd (UPPCL) and the state’s Infrastructure and Industrial Development Commissioner (IIDC).

 

INTERNATIONAL UPDATES:

 

1. The Curtain Raiser of Global Maritime India Summit 2023 launched: Minister of Ports, Sarbananda Sonowal has launched the Curtain Raiser of Global Maritime India Summit 2023 event on July 18, 2023 at St. Regis, Mumbai, Maharashtra. Objective: To create an international forum for key decision makers and industry leaders; to provide an opportunity platform for start-ups, researchers, and incubators The official brochure for the Maritime India Summit was also unveiled. The Global Summit event is scheduled on 17-19th October 2023.

 

2. China and Russia hold Joint Military Drills 'Northern Interaction-2023': A Joint Military Drills 'Northern Interaction-2023', between Chinese and Russian naval and air forces would be conducted in the central region of the Sea of Japan. It is organized by the Chinese People's Liberation Army (PLA) Northern Theater Command. Aim: To enhance the level of strategic cooperation between both militaries, as well as strengthen the ability to jointly safeguard regional peace China Capital: Beijing; Russia Capital: Moscow

 

3. Adani Group commissions India’s first transnational power project: Gautam Adani met Bangladesh PM Sheikh Hasina for full load commencement and handover of the 1,600 MW ultra-supercritical Godda power plant. Adani Power set up the 1,600 MW thermal power in Jharkhand’s Godda to supply power generated to Bangladesh Power Development Board (BPDB) through a dedicated transmission line. The Godda Plant became fully operational in June. The plant was commissioned in a record time of three-and-a-half years. The first unit of the power plant, with 800 MW capacity, achieved its COD in April this year.

 

4. Joint military exercise between Indian and Mongolian armies begins: The 15th edition of the joint military exercise between India and Mongolia, ‘Nomadic Elephant 2023’, begins at Ulaanbaatar, Mongolia from 17 to 31 July 2023. An Indian Army contingent, comprising 43 personnel, left for Mongolia yesterday to take part in a joint military exercise ‘Nomadic Elephant 2023’. Indian Army soldiers from the Jammu and Kashmir Light Infantry Regiment and Soldiers of the Mongolian Armed Forces Unit 084 from will be participating in the exercise. The primary theme of the exercise will focus on counter-terrorism operations in mountainous terrain under United Nations mandate. The scope of this exercise involves Platoon level Field Training Exercise (FTX).

 

5. 18 July – Nelson Mandela International Day: Nelson Mandela International Day is observed every year on July 18 to commemorate the birth anniversary of the great South African leader and Nobel Peace Prize winner Nelson Madela. Born on July 18, 1918, in South Africa, Nelson Mandela grew to become a symbol of hope and unity in the face of adversity. Despite facing immense challenges, he emerged as a beacon of peace, reconciliation, and equality. The United Nations officially recognised Nelson Mandela International Day in 2009, on Mandela’s 91st birthday. It was a tribute to his remarkable efforts to promote peace, freedom, and equality for all. The day aims to inspire individuals to take action and make a difference in their communities, just as Mandela did throughout his life. Theme 2023 – The Legacy Lives on Through You: Climate, Food, and Solidarity.

 

OTHER UPDATES:

 

SPORTS

 

1. Australia withdraws from hosting Commonwealth Games 2026: Australia's state of Victoria has withdrawn from hosting the 2026 Commonwealth Games (CWG). Reason: Due to a significant increase in projected costs, reaching around $7 billion, exceeding their budgetary limits Victoria stepped in to bid for the 2026 Games when no other countries showed interest.

The event rotates across different host cities within the Commonwealth. It was first held in 1930. 

 

2. Shubham Bisla, Sainyam win gold at ISSF world championship 2023: Indian shooters Shubham Bisla and Sainyam won gold medals in the 10m air pistol for men and women respectively at the ISSF Junior World Championships 2023. Sainyam beat Oh Ye Jin of Korea by 2.6 points for the junior women’s gold. The junior shooting world championships are being held at Changwon Shooting Range, Republic of Korea. India’s contingent of 90 shooters for the 2023 junior world championships is the largest.

 

3. India third with 27 medals in Asian Athletics Championships 2023: India won a total of 27 medals and secured the third position in the Asian Athletics Championships 2023 held in Bangkok, Thailand. India finished third with a total of 27 medals, including six gold, twelve silver and nine bronze medals, in the second-best-ever performance. Athlete Jyoti Yaraji won India’s first gold medal in women’s 100m race and silver medal in women’s 200m race in this championship. Indian athletes won a total of 13 medals including 8 silver and 5 bronze medals on the last day of competition in Bangkok Athletics Championships 2023.

 

4. Vondrousova becomes first unseeded woman to win Wimbledon: Czech Republic’s Marketa Vondrousova has become the first unseeded woman to win the Wimbledon title in the Open era. The Czech swept to a shock 6-4, 6-4 victory over Tunisia’s Ons Jabeur in the final match. This is Vondrousova’s first Grand Slam title. She lost in the final of the 2019 French Open as a teenager. Notably, Vondrousova beat Jabeur to become the first Czech woman to win the title since Petra Kvitova in 2014. Vondrousova’s win marks her maiden Grand Slam title and makes her the fifth left-handed player to win the women’s singles title at Wimbledon in the Open Era.

 

BANKING AND FINANCE

 

1. India needs average annual 7.6% GDP growth to become developed by 2047: RBI: An article published by the Reserve Bank of India (RBI) in its July 2023 bulletin stated that India could become a developed country by 2047 with an average annual real GDP growth of 7.6% over the next 25 years. India must rebalance its economic structure by strengthening its industrial sector

Agriculture and services would have to grow at 4.9% and 13% per annum, respectively Collaboration between the government, private sector, civil society and citizens is essential.

 

2. India, UAE sign MoUs for promoting use of local currencies: The Reserve Bank of India and the Central Bank of UAE (CBUAE) have signed two MoUs related to the promotion of local currencies for cross-border transactions and interlinking their payment systems UPI with the Instant Payment Platform (IPP) of UAE. Both of them would now help each other in establishing a common framework for the promotion of the use of local currencies, i.e, the Indian rupee (INR) and the UAE Dirham (AED) for cross-border transactions. The MoU on establishing a framework for the use of local currencies for transactions between India and UAE aims to put in place a Local Currency Settlement System (LCSS) to promote the use of INR and AED bilaterally.

The first MoU on establishing a framework for the use of local currencies for transactions aims to put in place a Local Currency Settlement System (LCSS) to promote the use of INR and AED bilaterally. It covers all current account transactions and permitted capital account transactions. LCSS would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-AED foreign exchange market. While under the second MoU, on ‘Payments and Messaging Systems’, the two central banks agreed to cooperate on linking their Fast Payment Systems (FPSs) – UPI of India with IPP of UAE. Also, apart from this, linking of respective Card Switches (RuPay switch and UAESWITCH) and exploring the linking of payments messaging systems — SFMS) of India with the messaging system in the UAE — were also included.

 

3. Australia names first woman to Lead Central Bank: Australia has appointed the first woman to lead the Reserve Bank of Australia (RBA) in the 63-year history of the central bank. Michele Bullock, a veteran economist at the central bank, will take over from outgoing governor Philip Lowe in September. Bullock joined the RBA in 1985 after graduating from Australia’s University of New England the previous year. She served in a variety of roles related to areas including payment settlements and government banking before being appointed as the first woman deputy governor in April 2022. Bullock’s appointment comes after the government decided not to reappoint Lowe to a second seven-year term. Lowe’s replacement had been widely expected after the outgoing governor came under heavy criticism for overseeing a steep rise in interest rates that heaped pressure on mortgage owners, some of whom had taken on cheap debt during the pandemic.

 

AWARDS AND HONOURS

 

1. NTPC wins ET HR World Future Skills Awards 2023: NTPC has received the Economic Times (ET) HR World Future Skills Awards 2023 in two categories - (1) Best use of AI/AR/VR in Learning and Upskilling and (2) Best Advance in Creating an Extended Enterprise Learning Programme. The award was received by Director (HR), NTPC, Dillip Kumar Patel. NTPC has been adopting and institutionalizing progressive and best HR practices, which have been recognized by various prestigious fora at national and international levels.

 

OBITUARIES

 

1. Former Kerala CM Oommen Chandy passes away: Former Kerala CM Oommen Chandy passed away at the age of 79 in Bengaluru due to prolonged illness. He served as the Kerala chief minister twice from 2004-06 and 2011-16. The veteran leader began his stint as a legislator by winning the 1970 state assembly elections at the age of 27. He later went on to win 11 consecutive polls. He represented the Puthupally assembly constituency and was the longest-serving MLA in the state assembly.

2. Eminent mathematician Dr Mangala Narlikar passes away: Eminent mathematician and scientist Dr Mangala Narlikar passed away at the age of 80. She is the wife of Dr Jayant Narlikar, who is the founder and director of the Pune-based Inter-z Centre for Astronomy and Astrophysics (IUCAA). She initially worked at the Tata Institute of Fundamental Research (TIFR) in Mumbai before joining as a lecturer at Bombay and Pune universities. Her core fields of interest were real and complex analysis, analytic geometry, and topology. Dr Narlikar has authored several books in English and Marathi. Some of the books she wrote include A Cosmic Adventure, An easy Access to Basic Mathematics (book for school students), Ganit Gappa (Part 1, 2), Easy access to mathematics (book for school students), Nabhat Hasre Taare (Co-Authors – Dr. Ajit Kembhavi and Dr. Jayant Narlikar), Astronomy Related Book – Pahalale Desh, Bhetleli Manasam.