Daily GK Update- 4th July, 2023

NATIONAL UPDATES:

 

1. G-20 Research & Innovation Initiative Gathering Summit begins in Mumbai: The G-20 Research and Innovation Initiative Gathering (RIIG) Summit and Research Ministers’ Meeting started in Mumbai on July 4, 2023. In 2023, a total of 5 RIIG meetings were hosted by India under the theme "Research and Innovation for Equitable Society". More than 100 foreign delegates including Research Ministers from 29 G-20 members, invited guest countries and international organizations to participate in the meeting.

 

2. The World famous Shravani Mela inaugurated in Deoghar: Shravani Mela 2023 was inaugurated by Jharkhand's Agriculture Minister Badal Patralekh by offering prayers at Baba Baidyanathdham temple in Deoghar, Jharkhand. He informed that the state government has made adequate arrangements for Kanwariyas to perform the Jal Abhishek puja of Baba Baidyanath. Shravani Mela is being organized from the 3rd of July to the 7th of September 2023. Baba Baidyanathdham Temple is one of the 12 Jyotirlingas in the country.

 

3. DAY-NRLM launches Mobile App to Market products made by SHGs women: Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM) launched a mobile App named 'eSARAS', which will add to eCommerce initiatives for products made by the SHGs. Aim: To strengthen the marketing support for products made by women of SHGs The eSARAS fulfillment center will be managed by the Foundation for Development of Rural Value Chains (a Not for Profit Company constituted jointly by the Ministry of Rural Development and Tata Trust)

 

4. Tamil Nadu regains top spot in electronic exports in India: According to the Exports data, released by the government for FY23 shows that Tamil Nadu ($5.37 billion) has emerged as the top exporter of electronics in India. As per the data, TN overtook UP and Karnataka to emerge as India's top electronics exporter in March 2023. Reason: The global giants Foxconn and Pegatron accelerated iPhone exports last year In FY23, UP placed second in electronics exports, exporting $4.90 billion, and Karnataka third with $4.52 billion.

 

5. Unsafe WASH behind 395,000 deaths of children under 5 in 2019: WHO report: As per the WHO report, Unsafe drinking water, sanitation, and hygiene (WASH) were responsible for 395,000 deaths among children under the age of five in 2019. Report title: Burden of Disease Attributable to unsafe drinking water, sanitation, and Hygiene: 2019 Update Out of these, 273,000 deaths are attributed to diarrhea, while 112,000 deaths are from acute respiratory infections. Half of the world’s population still does not have adequate access to WASH.

 

6. Amit Shah launches Akshar River Cruise in Ahmedabad: Union Minister for Home and Cooperation Amit Shah has virtually launched the ‘Akshar River Cruise’ on Sabarmati Riverfront.

This cruise is developed under Public Private Partnership by Ahmedabad Municipal Corporation and Sabarmati Riverfront Development Corporation Limited. The cruise is the first passenger catamaran built in the country under Make in India at a cost of Rs 15 crore with twin engines where 165 passengers can travel safely for one-and-a-half hours. The cruise has been designed keeping in mind the convenience of the citizens and is equipped with 180 life safety jackets, fire safety and emergency rescue boat.

 

7. First of its kind exhibition ‘Banking on World Heritage’ inaugurated: The first-of-its-kind exhibition ‘Banking on World Heritage’ was inaugurated in New Delhi by the Minister of Culture and External Affairs, Meenakshi Lekhi. The exhibition displays banknotes of G20 member nations, depicting world heritage sites listed by UNESCO, in a unique manner. The exhibition will help to connect the youth, who are mostly engaged on the digital platform, to their heritage through the physical currency notes. The G20 countries have 70 percent of declared Heritage of the world and the exhibition brings out the collective effort of these countries to preserve and conserve Heritage and to connect the current generation to the greatness of their past. The exhibition has been curated by the scholar Rukmini Dahanukar.

 

8. Chandigarh University ranked number 1 private university: Chandigarh University (CU) has achieved a significant milestone by securing the first rank among India’s private universities in the latest edition of the coveted Quacquarelli Symonds (QS) World University Ranking. As per QS WUR-2024, in which 2963 institutions were evaluated, Chandigarh University – keeping continuing its success streak – has secured an overall rank of 771-780, which is higher than its 801-1001 rank in the previous edition of the ranking released last year. The university’s overall score in this year’s ranking is 15.2. As many as 45 Indian universities have featured in the 20th edition of the QS rankings and the all-India rank of Chandigarh University is 20 – among all public and private institutes. The university also stood at 233rd spot in Asia. While Chandigarh University (CU) climbed up the ladder as India’s number one ranked private University, the Indian Institute of Technology (IIT) Bombay has emerged as the number one ranked Indian public institute, in this year’s coveted QS World University Rankings 2024. The university also attained 27th rank in India’s top universities in the recently released NIRF Rankings 2023. Last year, Chandigarh University became the Youngest University to feature in the Top 200 QS Asia University Rankings 2023.

 

9. Aditi Tatkare becomes first woman minister in Eknath Shinde govt: Aditi Tatkare has become the first woman minister in the new government led by Eknath Shinde. She was sworn in as the Minister of State for Water Resources and Medical Education on July 3, 2023. Previously serving as a minister of state in the MVA (Maha Vikas Aghadi) government from 2019 to 2022, she successfully handled various portfolios, including tourism and industries, contributing to the state’s development. Tatkare is a member of the Nationalist Congress Party (NCP) and has been a member of the Maharashtra Legislative Assembly since 2009. Aditi is the daughter of former Maharashtra CM Sushilkumar Shinde.

 

10. Defence ministry inks a Rs 2725 cr deal with MDL for INS Shankush: The Ministry of Defence (MoD) has sealed an agreement worth Rs 2,725 crore with Mazagon Dock Shipbuilders Limited (MDL) for the refurbishment and life certification of INS Shankush, a formidable submarine from the Indian Navy’s sub-surface killer (SSK) class. The project, known as Medium Refit with Life Certification (MRLC), aims to upgrade the submarine’s combat capabilities. The INS Shankush submarine is projected to be combat-ready and integrated into the active fleet of the Indian Navy after the completion of MRLC. The upgraded vessel is scheduled for delivery in 2026, equipped with enhanced combat capabilities.

 

INTERNATIONAL UPDATES:

 

1. India hosts 23rd Summit of Shanghai Cooperation Organization virtually: PM Narendra Modi hosted the 23rd edition of the SCO Summit virtually on July 4, 2023. Theme 2023: Towards a SECURE SCO SECURE stands for Security, Economic development, Connectivity, Unity, Respect for sovereignty and territorial integrity, and Environmental protection. The summit was attended by SCO Members China, Russia, Kazakhstan, Kyrgyzstan, Pakistan,  Tajikistan, and Uzbekistan. Observer States: Iran, Belarus, and Mongolia Guest of the Chair: Turkmenistan

 

2. NADA India, SARADO signs MoU in New Delhi: National Anti-Doping Agency, India (NADA India) has signed an MoU with  South Asia Regional Anti-Doping Organization (SARADO) to increase Regional Cooperation in anti-doping in sports. The MoU was signed between Ritu Sain (DG & CEO, NADA India) and Mohamed Mahid Shareef (DG, SARADO), in the presence of Minister of Youth Affairs & Sports, Anurag Singh Thakur. SARADO members include anti-doping organizations from Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka. Meta to launch Twitter-like app 'Threads': Meta Platforms, the parent company of the social media platform Facebook, is planning to launch a microblogging app 'Threads', Instagram’s text-based conversation app. It is expected to be released soon and will allow users to follow the accounts they follow on the photo-sharing platform and keep the same username. The launch comes after Twitter announced a slate of restrictions on the app, including the need to be verified in order to use TweetDeck.

 

3. SpaceX launches European space telescope Euclid to explore ‘dark universe’: SpaceX launched the European Space Agency’s Euclid observatory toward its ultimate destination 1.5 million km away. This telescope has been named after the ancient Greek mathematician, Euclid. It will take a month to get there and another two months before it starts its ambitious six-year survey this autumn. Euclid will measure dark energy and dark matter with unprecedented precision. It is four meters tall and almost as wide.

 

4. IEP report 2023: Afghanistan least peaceful country in the world: Afghanistan is the least peaceful country in the world for the fifth consecutive year, according to the ‘Global Peace Index 2022’ report released by the Institute for Economics and Peace (IEP). Yemen, Syria, Russia, and South Sudan are followed by Afghanistan in the Global Peace Index 2022 report. All these countries have remained among the ten least peaceful nations for the past three years, Tolo News reported. India stands at 126 ranks out of 163 countries in the Global Peace Index. While Iceland has most peaceful country followed by Denamrk, Ireland.

 

5. 4 July – USA Independence Day: The United States celebrated the 247th anniversary of its independence on 4th July. The Star-Spangled Banner, the national anthem of the United States is sung during various events to mark the historic day. According to the Library of Congress, on July 4, 1776, the Declaration of Independence was officially adopted by the Second Continental Congress, signifying the colonies’ decision to break away from the Kingdom of Great Britain. After the War of 1812 between the United States and Great Britain, the tradition of celebrating patriotism on July 4 became more widespread. In 1870, the U.S. Congress established July 4 as a federal holiday, and in 1941, it was expanded to grant federal employees a paid holiday.

 

OTHER UPDATES:

 

SPORTS

 

1. BCCI announces Dream11 as new lead sponsor for Team India: The Board of Control for Cricket in India (BCCI) signed a three-year sponsorship deal with fantasy sports gaming platform Dream 11. The fantasy gaming platform Dream11 has replaced the ed-tech platform Byju as the next lead sponsor for Team India. The change in lead sponsor comes ahead of crucial Test series against West Indies which will be the first task for Team India in the ICC World Test Championship 2023-25 cycle. Back in 2019, Byju’s replaced Oppo as the sponsor of the national team and signed a deal for three years until 2022. The learning app extended its contract until 2023 before being replaced by Dream 11, one of the most popular fantasy platforms around the world.

 

2. Max Verstappen wins Austrian GP 2023: Red Bull driver, Max Verstappen has won the Formula One Austrian Grand Prix 2023. This win further solidified his pursuit of a third consecutive world title. Charles Leclerc, the previous year’s winner at this circuit, finished in second place, crossing the finish line 5.2 seconds after Verstappen. Meanwhile, Sergio Perez secured the third position, finishing 17.2 seconds behind the leader.

 

3. West Indies fail to qualify for World Cup 2023 for first time: West Indies cricket team failed to qualify for the Cricket World Cup 2023 for the first time in their history after losing to Scotland. West Indies won the first two editions of the men’s 50-over cricket World Cup in 1975 and 1979 and also the runners-up in 1983. In the World Cup Qualifiers, West Indies were grouped with Zimbabwe, Netherlands, USA, and Nepal in Group A. And as per the format, only the top three teams from each of the two groups made it to the Super Six stage, which West Indies succeeded too. But with the defeat to Scotland in Group B, the maximum West Indies can get to is four points, which is not sufficient for them to qualify for a World Cup ticket to India. Before this, West Indies managed to get 2019 ODI World Cup in England, via the World Cup Qualifiers. But, they did not qualify for the Super 12 stage of the 2022 T20 World Cup in Australia, as they won just one against Zimbabwe and lost two to Scotland and Ireland in their group matches.

 

BANKING AND FINANCE

 

1. SBI appoints Kameshwar Kodavanti as new CFO: The State Bank of India board has appointed Kameshwar Kodavanti as the new Chief Financial Officer (CFO), effective from July 1, 2023. He has replaced Charanjit Surinder Singh Attra, who has resigned from his post. He has an extensive career in banking, with over 31 years of experience at SBI, starting from August 1, 1991. He brings expertise in banking, forex, finance, and accounting to his new position. Kodavanti holds the qualification of a Chartered Accountant.

 

2. State Bank of India launches ‘Transaction Banking Hubs’: State Bank of India launched 34 Transaction Banking Hubs at 21 district centers across the country. Aim: To provide quick and efficient Transaction Banking solutions to customers Dinesh Khara, the chairman of the SBI, inaugurated the hubs, on the occasion of the 68th foundation day of the bank. The bank's goal is to meet all customers' needs and provide comprehensive solutions for their transaction, payment, and collection requirements under one roof.

 

3. Debadatta Chand takes charge as Bank of Baroda MD: Debadatta Chand assumed charge as Managing Director and Chief Executive Officer of the Bank of Baroda. He has taken over charge from Sanjiv Chadha, whose tenure ended on June 30, 2023. Before this role, Chand was serving as the Executive Director at the bank since March 2021. He was overseeing corporate & institutional credit, corporate & institutional banking, treasury & global markets, mid-corporate business, and trade & foreign exchange.

 

4. Indian Bank rolls out digital services under 'Project WAVE' initiative: Public sector lender Indian Bank has unveiled new services under its digital transformation initiative 'Project WAVE'. The bank in collaboration with National E-Governance Services Ltd, has introduced an electronic bank guarantee (e-BG) service to ease traditional paper-based processes. This move will also reduce the turnaround time of the bank guarantee issuance and delivery to the beneficiary from an industry average of 3-4 working days to a few minutes.

 

5. HDFC merger to create world’s fourth-largest bank by market capitalization: The boards of directors of Housing Development Finance Corp Ltd (HDFC) and HDFC Bank have approved the merger between the two institutions creating the world’s fourth-biggest bank by market value. The merged entity will be the world’s fourth largest bank by market cap in the world — behind JPMorgan Chase, Industrial and Commercial Bank of China, and Bank of America. HDFC Bank announced in April last year that it will be acquiring its parent company Housing Development Finance Corporation, the largest home financing lender in India, in a $40 billion all-stock deal. The merger was carried out efficiently due to the “common culture” that both companies have, said Nilesh Shah, managing director at Kotak Mahindra Asset Management. HDFC shareholders will receive 42 shares of HDFC Bank for every 25 shares they own, and HDFC will cease operations on the Indian stock market on 13 July. The new entity now holds a market cap of approximately $172 billion, Rajan said, adding it will become India’s second most-valued company by market cap after Reliance Industries.

 

6. SBI launches ‘Transaction Banking Hubs’ for efficient solutions: State Bank of India (SBI) has launched 34 Transaction Banking Hubs in the top 21 district centres across the country to provide customers with quick and efficient transaction banking solutions. Dinesh Khara, the chairman of the SBI, inaugurated the hubs, on the occasion of the 68th foundation day of the bank. India’s largest bank said its goal is to meet all customer needs and provide comprehensive solutions for their transaction, payment, and collection requirements under one roof. The newly launched hubs will be staffed by product specialists who will also assist business customers with their other financial service needs by leveraging the ‘Power of One’ within the SBI Group by enabling seamless connectivity with different business verticals and subsidiary companies.

 

AWARDS AND HONOURS

 

1. An elephant image shot has emerged the winner at Drone Photo Awards: A photo of an elephant taken at the Anamalai Tiger Reserve (ATR) in Tamil Nadu has emerged as the winner of the Siena Drone Photo Awards 2023 The photo was taken by wildlife photographer, Mathanraj S and will receive a cash prize of $10,000. The photo shows a herd of elephants crossing a river in the reserve. The photo was chosen as the winner by a panel of judges from around the world.