Daily GK Update- 7th July, 2023

NATIONAL UPDATES:

 

1. Justice Sheo Kumar Singh appointed as acting chairperson of NGT: The Central government has appointed Justice Sheo Kumar Singh as Acting Chairperson of the National Green Tribunal (NGT), till further order. He has replaced Justice Adarsh Kumar Goel, who retired on July 6, 2023. He was appointed as Judicial Member of the NGT on March 11, 2020. He worked as a district judge in various districts of Uttar Pradesh (UP), as Registrar (Judicial) at the Supreme Court of India, and as Registrar General, Allahabad High Court.

 

2. 7th edition of SALVEX exercise conducted in Kochi: The Seventh edition of the Indian Navy and US Navy Salvage and Explosive Ordnance Disposal Eexercise, SALVEX was conducted from 26 Jun – 06 Jul 23 at Kochi. Both the navies have participated with their ships – INS Nireekshak and USNS Salvor in addition to Specialist Diving and EOD teams. Aim: To enhance the skill sets of the Diving teams in a number of diverse disciplines such as mine detection and neutralization, wreck location, and salvage. 

 

3. India’s first Vedic-themed park unveiled in Noida: India’s first Vedic-themed park has been opened to the public at Sector 78, Noida, inaugurated by Uttar Pradesh CM Yogi Adityanath. This park is also known as Ved Van Park. It will also highlight excerpts from the four Vedic literature pieces- Rig Veda, Atharva Veda, Yajur Veda, and Sama Veda- via laser shows, wall paintings, and sculptures. The place is home to over 50,000 plants, such as banyan, kalpavriksha, and coconut, which have been mentioned in Vedic literature.

 

4. Odisha announces state forest rights scheme: Odisha government has launched the ‘Mo Jungle Jami Yojana’ to saturate recognition of rights pertaining to the Forest Rights Act (FRA) and speed up the post-rights recognition activities within the prescribed time frame. Under the scheme, designed by the ST & SC Development department, it has been decided to constitute forest rights cells at the tehsil and district level with human resources to ensure and assist in the effective implementation of FRA, 2006.

 

5. J&K launches India’s first chatbot for people in mental distress: India’s first Tele-MANAS (Tele Mental Health Assistance and Networking Across States) chatbot was launched in Jammu & Kashmir on July 5, 2023. The service was launched by J&K LG Manoj Sinha. This chatbot will start an instant conversation with people in distress. Tele-MANAS is a two-tier system - Tier 1 comprises State Tele MANAS cells and Tier 2 comprises specialists at District Mental Health Programme /Medical College resources for physical consultation.

 

6. 4th edition of the Space Economy Leaders Meeting begin in Bengaluru: As part of India’s G20 Presidency, the 4th edition of the Space Economy Leaders Meeting has started in The Chairman of ISRO S Somanath informed that partnerships between space agencies, industries, and start-ups were discussed during the meeting. The theme of the meeting, namely towards a new space era -Economy, Responsibility, and the alliance was extensively discussed during the Heads of Space Agencies session. The discussion also covered the possibilities of the rule of law in space, guidelines and regulations in space missions, the possibility of upgrading the G20 Space Economy Leaders forum, and how to bring new countries into the space sector, helping them to build rockets and ground stations.

 

7. Haryana restaurants can now remain open 24X7: The Haryana government decided to allow all restaurants across the state to remain open 24×7. There will be no restriction on them to close at night. The decision was announced by Deputy Chief Minister Dushyant Chautala. Keeping in mind the convenience of the restaurants and the general public, the restaurant owners of the state who want to keep their restaurants open for 24 hours in the future, can keep them open. No one can force them to shut down, but they will have to register with the Labour Department and follow other terms and conditions (Section 9 and 10 of the Punjab Shops and Commercial Establishments Act, 1958).” Section 9 of the Punjab Shops and Commercial Establishments Act, 1958, caters to “Opening and Closing Hours of establishments”. It mentions, “Government shall, by notification, fix the opening and closing hours of all classes of establishments. Section 10 of the Act mentions about the “Close Day” of the establishment under which the employer can alter the operational timings by informing the government prior to implementing such timings. If any restaurant owner feels that someone is harassing them unnecessarily, they can register their complaint through email on MSME’s mail id — hepcharyana@gmail.com.

 

8. IFFCO to procure 2500 agricultural drones to spray fertilizers: To promote the use of nano fertilizers across the country, IFFCO will procure 2,500 agri-drones and train 5,000-odd rural entrepreneurs as part of its national campaign launched in July 2023. Already, IFFCO has signed an agreement for procurement of drones, to be used for spraying of its products nano urea and nano di-ammonium phosphate (DAP), in a phased manner. IFFCO will also procure 2,500 electric three-wheelers (loader type) to carry the drone to farmers’ field along with nano fertilisers and associated utilities. It is expected that one agri-drone would be able to cover 20 acres per day for spraying IFFCO nano fertilizers and bio-stimulants like Sagarika, Agrochemicals, etc with backup. These EV 3-wheelers are environment friendly, the cooperative said, adding this will also support recently launched scheme PM-PRANAM that aims to reduce chemical fertilizers and promote alternative fertilizers.

 

INTERNATIONAL UPDATES:

 

1. IIT Madras becomes first ever IIT to be set up outside India in Tanzania: Recently, the Ministry of External Affairs signed an MoU with the IIT Madras and the Ministry of Education and Vocational Training Zanzibar (Tanzania) to set up the first-ever IIT campus outside India. It was signed in the presence of External Affairs Minister S Jaishankar and Zanzibar's President Hussein Ali Mwinyi. The National Education Policy 2020 recommends that high-performing Indian universities will be encouraged to set up campuses in other countries.

 

2. India and Singapore signed a Protocol Document: The Department of Administrative Reforms and Public Grievances under the Ministry of Personnel and the Public Service Division of the Republic of Singapore signed a Protocol Document. Reason: To extend the current MoU on Cooperation in the field of Personnel Management and Public Administration till 2028 The MoU aims at strengthening the partnership between the two countries through various forms of cooperation between both countries’ Public Service officers.

 

3. Taiwan to set up Taipei Economic and Cultural Center in Mumbai: The Taiwanese government will establish a Taipei Economic and Cultural Center (TECC) in Mumbai as part of a broader aim to further deepen cooperation with India. At present, Taiwan has TECCs in Delhi and Chennai. Taiwan’s decision to set up the TECC in India’s financial capital came at a time when leading Taiwanese companies are increasingly looking at relocating their production bases from China to India. India is keen on having production facilities of leading Taiwanese chip producers, including Taiwan Semiconductor Manufacturing Corporation (TSMC), the world’s largest chipmaker whose clients included Apple. Since the TECC in Chennai was set up in 2012, nearly 60 percent of all Taiwanese businesses investing and opening factories in India have chosen to develop their operations in southern India. In 1995, New Delhi set up the India-Taipei Association (ITA) in Taipei to promote interactions between the two sides and to facilitate business, tourism and cultural exchanges. Though India and Taiwan do not have formal diplomatic ties, the bilateral trade relations have been on an upswing.

 

4. World famous Shravani Mela inaugurated in Deoghar: Shravani Mela 2023, one of the largest religious congregations in the country’s eastern region, was inaugurated in the Deoghar district of Jharkhand. State Agriculture Minister Badal Patralekh inaugurated the fair at Kanwariyapath in Dumma, bordering Bihar. This year, the fair will be organized for two consecutive months from July 3 to August 31. After 19 years, this is for the first time when there will be eight Mondays during the Shravani fair. Devotees from various parts of the country and abroad visit Deoghar during the month of ‘Shravan’ and offer prayers at Baba Baidyanath Dham temple. Baba Baidyanathdham Temple is one of the 12 Jyotirlingas in the country.

 

5. QU Dongyu re-elected as Director-General of FAO: China’s QU Dongyu was re-elected to a second term as Director-General of the Food and Agriculture Organization (FAO) of the United Nations He was elected during the 43rd session of the conference of the United Nations Food and Agriculture Organization (FAO) held in Rome, Italy. The international community has welcomed Qu’s reappointment as head of the UN Food and Agriculture Organization. He was the only candidate standing for the role of FAO director-general and received 168 out of 182 votes in a ballot in Rome on Sunday. Qu, a former Chinese government minister who was nominated for the post by Beijing, will serve a new four-year term from August 1. Qu, a biologist by training, was vice-minister of agriculture before taking over as head of the U.N. agency in 2019.

 

6. Quick Heal Technologies appoints Vishal Salvi as CEO: Global cybersecurity solutions provider, Quick Heal Technologies Ltd has appointed Vishal Salvi as the new Chief Executive Officer (CEO) with immediate effect. Vishal Salvi, a former executive at Infosys, has over 29 years of experience in the cybersecurity and information technology domains in India and globally. Prior to joining Quick Heal Technologies, Salvi held the position of Global Chief Information Security Officer, Business Head of the Cybersecurity Service Line & Senior Vice President at Infosys Ltd.

Salvi’s extensive expertise in cybersecurity and information technology has been honed through various leadership roles at renowned organizations such as PwC, HDFC Bank, Standard Chartered Bank, Global Trust Bank, Development Credit Bank, and Crompton Greaves. Kailash Katkar will continue in the role of Chairman and Managing Director. Quick Heal is an Indian multinational cybersecurity software company, headquartered in Pune, Maharashtra, India.

 

7. 7 July – World Chocolate Day: World Chocolate Day is celebrated every year on July 7. This special occasion pays tribute to one of life’s most delightful indulgences. On this day, chocolate enthusiasts of all ages come together to relish their favorite treats, be it a plain chocolate bar, a decadent truffle, or a delectable chocolate cake. Established in 2009, World Chocolate Day commemorates the anniversary of chocolate’s introduction to Europe in 1550. Before 1550, chocolate was primarily available in specific countries across South and Central America, such as Mexico. However, foreign explorers desired to bring this special treat to the European continent.

 

OTHER UPDATES:

 

SPORTS

 

1. Tamim Iqbal announces retirement from international cricket: Bangladesh one-day captain Tamim Iqbal has announced his retirement from international cricket before the team begins its ODI World Cup campaign in India. He played 70 Test matches for Bangladesh scoring 5134 runs at an average of 38.89 with 10 tons to his name. As far as the ODIs is concerned, he played 241 matches amassing 8313 runs at an average of 36.62 with 14 centuries and 56 half-centuries. He last played in the format in April against Ireland.

 

2. India wins gold in Junior mixed team at World Archery Youth Championship 2023: India’s Priyansh and Avneet Kaur won gold in the junior mixed team compound event, defeating Israel 146-144 in a keenly-contested final of the World Archery Youth Championships. India’s Manav Jadhav and Aishwarya Sharma also won a bronze medal defeating Mexico in the cadet mixed compound event. The event is taking place at the University of Limerick in the west of Ireland from July 3-9.

 

BANKING AND FINANCE

 

1. Bihar overtakes Tamil Nadu to become India's largest MFI market: According to a report, published by Crif High Mark, Bihar has overtaken Tamil Nadu to become the state with the highest microlending borrowings in India as of March 2023. It highlighted Bihar's impressive growth with a 13.5% increase in the gross lending portfolio during the March quarter compared to the previous quarter. NBFC holds the largest share in the market (37.3% of the overall MFI loans), while Banks at 33.1% and small finance banks at 16.6%

 

2. PNB launches its virtual branch in the Metaverse: Punjab National Bank (PNB) has launched its virtual branch, PNB Metaverse. It is a virtual branch of the bank, which will deliver a unique experience of banking to existing and new customers. With the help of this, customers can explore the bank's products and services such as bank deposits, retail/MSME loans, digital products, women/senior citizens, 'Do It Yourself', and government flagship schemes. The bank will offer an immersive 3D experience to the customers.

 

3. FPSB India appoints Krishan Mishra as new CEO: The Financial Planning Standards Board (FPSB) of India has appointed Krishan Mishra as Chief Executive Officer (CEO), effective 1 August 2023. He will lead the strategy and operations of FPSB India and champion the advancement of the financial planning profession in India. FPSB is the global standards-setting body for the financial planning profession and owner of the international Certified Financial Planner (CFP) certification program.

 

4. Flipkart, Axis Bank tie-up to offer upto Rs 5 lakh in lending to customers: Flipkart has joined hands with Axis Bank to offer loans for up to Rs 5 lakh to customers. The lending service is accessible through Flipkart's app and boasts a 30-second approval time while removing the need for document submission. By introducing personal loans, Flipkart is expanding its range of financial services, which already includes a 'buy now, pay later' option, EMI payments, and a co-branded credit card. It will empower consumers to make big-ticket purchases.

 

5. Bandhan Mutual Fund launched Bandhan Financial Services fund: Bandhan Mutual Fund has launched an open-ended equity scheme, Bandhan Financial Services Fund. This new scheme offers investors the opportunity to benefit from the multi-year growth opportunities in the financial services sector. This new fund will open on July 10 for subscription and will close on July 24, 2023. The Bandhan Financial Services Fund will use a 3-factor model for stock selection. The fund manager will prioritize the stock’s Earnings Trajectory, Management Quality, and Competitive Positioning, thereby focusing on both the quality and growth aspects of the portfolio. Bandhan Financial Services Fund has a bottom-up stock selection approach with flexible allocation across market cap segments, facilitating focus on growth-oriented companies that have proven competitive positioning, good management quality, and a robust earnings trajectory.

 

6. Bank of India becomes first bank to offer Mahila Samman Savings Certificate: Bank of India, one of the largest public sector banks (PSBs) in the country, has become the first bank to officially roll out Mahila Samman Savings Certificate (MSSC) scheme. The scheme was announced by Union Finance Minister Nirmala Sitharaman during her Budget Speech 2023. The scheme offers an interest rate of 7.5 percent per annum, compounded quarterly. Individual girls or women can open an account under the Mahila Samman Savings Certificate scheme or a guardian can open an account on behalf of a minor girl. The account will mature after two years from the date of opening. Accounts under this scheme can be opened until March 31, 2025. According to a statement by the bank, while the minimum investment is Rs 1,000, any sum in multiples of Rs 100 can be deposited, up to a maximum limit of Rs 2 lakh. Individuals can open multiple accounts with a gap of three months between each account, subject to the overall investment cap of Rs 2 lakh. Account closure can be requested by the customer in case of emergencies or at their discretion, with a penalty of 2 percent after six months from the date of account opening, and the applicable interest rate will be 5.5 percent. Account holders can also make partial withdrawals, up to 40 percent of the eligible balance, after one year from the date of opening the account. All earnings under the Mahila Samman Savings Certificate will be taxable as per existing income tax provisions. However, TDS (Tax Deducted at Source) will not be deducted under the scheme.

 

OBITUARIES

 

1. Artist Namboothiri, iconic illustrator passes away: K M Vasudevan Namboothiri, who was popularly known as Artist Namboothiri, passed away at Kottakkal in Malappuram district. His iconic illustrations gave life to many mythical characters in Malayalam literature. He inspired a golden era of painting and sculpture in Kerala through his unique three-dimensional sketches. He had received many honors like Kerala Lalita Kala Akademi's Raja Ravi Varma Award and the State Institute of Children's Literature award.