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.
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