Daily GK Update- 18th Oct, 2023

NATIONAL UPDATES:

 

1. RBI Governor Shaktikanta Das received the Award for being ranked ‘A+: Reserve Bank of India (RBI) Governor Shaktikanta Das received the Award for being ranked ‘A+’ in the Global Finance Central Banker Report Cards 2023. The award recognizes those central bank governors whose strategies outperformed their peers through originality, creativity, and tenacity.  Two other central bankers- Thomas J. Jordan of Switzerland and Nguyen Thi Hong of Vietnam earned an ‘A+’ grade in the Global Finance Central Banker Report Cards 2023.

 

2. UP CM Announces Free Gas Cylinder For Ujjwala Scheme Beneficiaries: Uttar Pradesh Chief Minister Yogi Adityanath announced that the beneficiaries under the Ujjwala scheme will get a cooking gas cylinder free of cost as a "Diwali gift".  The decision is expected to benefit 1.75 crore families in the state. The Pradhan Mantri Ujjwala Yojana is a flagship initiative of the central government aimed at providing financial assistance for LPG connections to families falling below the poverty line (BPL).

 

3. MeitY inaugurated Robotic Process Automation (RPA) Lab in Gorakhpur: Ministry of Electronics and Information Technology S Krishnan (IAS) inaugurated Robotic Process Automation (RPA) Lab in NIELIT Gorakhpur. This is the First-of-its-kind lab in Uttar Pradesh under FutureSkill PRIME Project, which has been established to bridge the gap between Industry and Academia. The state-of-art RPA lab has been built under the Future Skill PRIME Project funded by MeitY with an objective to upskill/reskill manpower in emerging technology of RPA.

 

4. Union Minister Launches ‘Apna Chandrayaan’ Web Portal: Union Minister for Education Dharmendra Pradhan launched a web portal ‘Apna Chandrayaan’ having activity-based support material such as quiz , puzzles, etc for school students on Mission Chandrayaan-3   Aim: To make it more accessible, facilitating self-learning among students. He also released 10 special modules on Chandrayaan-3, offering a comprehensive overview of its various facets - including scientific, technological, and social aspects.

 

5. India to push developed nations to become carbon-negative before 2050: India wants to push developed nations to become carbon negative rather than carbon neutral by 2050, arguing that would allow emerging market economies more time to use fossil fuels for development needs.

India, which is resisting calls to commit to a deadline for phasing out its own use of coal and other fossil fuels, is set to make its proposal at the COP28 climate summit in Dubai later this year. The rich countries should become net negative emitters before 2050 to enable the world to achieve the target of global net-zero by that year while allowing developing nations to use the available natural resources for growth. Developed countries including the United States, Britain, Canada, and Japan are targeting net zero by 2050. China has committed to net zero by 2060 while India has committed to reaching that goal by 2070.

 

6. PM inaugurated Global Maritime India Summit 2023: Prime Minister Narendra Modi has inaugurated the third edition of the Global Maritime India Summit 2023. India’s economy is constantly strengthening in a world dealing with economic crisis, and the day is not far when India will become one of the top three economies in the world. The historic India-Middle East-Europe Economic Corridor will revolutionize regional and global trade. The decision on the Economic Corridor was taken during the G20 leader’s summit due to India’s initiatives and it will help in decreasing logistic costs, help in environment conservation, and create a huge number of employment opportunities. The Prime Minister also unveiled ‘Amrit Kaal Vision 2047’, a blueprint for the Indian maritime blue economy. In line with this futuristic plan, the Prime Minister inaugurated, dedicated to the nation and laid the foundation stone for projects worth more than 23,000 crores rupees that are aligned with the ‘Amrit Kaal Vision 2047’ for the Indian maritime blue economy. The summit provides an excellent platform for attracting investment in the country’s maritime sector.

 

INTERNATIONAL UPDATES:

 

1. RBI Governor Shaktikanta Das received the Award for being ranked ‘A+: Reserve Bank of India (RBI) Governor Shaktikanta Das received the Award for being ranked ‘A+’ in the Global Finance Central Banker Report Cards 2023. The award recognizes those central bank governors whose strategies outperformed their peers through originality, creativity, and tenacity.  Two other central bankers- Thomas J. Jordan of Switzerland and Nguyen Thi Hong of Vietnam earned an ‘A+’ grade in the Global Finance Central Banker Report Cards 2023.

 

2. Daniel Noboa elected Ecuador's youngest president: Businessman Daniel Noboa became the youngest president in Ecuador's history. With more than 97% of votes counted, Mr Noboa, a centrist, had a lead of four percentage points over his left-wing rival, Luisa González. The election campaign was overshadowed by unprecedented levels of violence, which saw one of the candidates, Fernando Villavicencio. Ecuador has all the elements needed to be a global example of progress.

 

3. Christopher Luxon was elected as the Prime Minister of New Zealand: Christopher Luxon has been elected as the 42nd Prime Minister of New Zealand He completed a rapid political ascent four years after leaving one of the country's top executive roles He spent 7 years as chief executive of Air New Zealand, and was hailed a likely future leader upon entering politics in 2019 National hoped he could repeat the "glory days" under John Key, a former Merrill Lynch broker who won three elections for the party and served as PM from 2008 to 2016

 

4. Puma ropes in Mohammed Shami as its brand ambassador: Puma has roped in Team India’s fast bowler Mohammed Shami as its brand ambassador.  The sports brand has a star-studded roster of brand ambassadors which includes Virat Kohli, champion sprinter Usain Bolt. Under this partnership, the Indian pacer will endorse Puma’s footwear, apparel and accessories through multiple activities and campaigns throughout the year.  The brand has also launched a new bowling spike with a mid-sole meant for runners, to support fast bowlers

 

5. Ayurveda Day to be celebrated 100 countries across the globe: In 2023 Ayurveda Day will be celebrated internationally in about 100 countries across the globe.  It is scheduled on Dhanvantari Jayanti, 11 November 2023. The day will be celebrated on the theme of Ayurveda for One Health. Objective: To promote and disseminate Ayurveda at the international level and establish it in the global scenario for the welfare of mankind, animals, plants, and the environment.

 

6. India-Sri Lanka Ferry Service Reopens After Four Decades: India and Sri Lanka launched a ferry service across the Palk Strait under a new roadmap for greater connectivity,  Nearly four decades later the link between Nagapattinam in Tamil Nadu and Kankesanthurai in Jaffna was disrupted by the civil war in the island nation. The ferry service is expected to boost travel and trade with Kankesanthurai, the Sri Lankan port located closest to ports on India’s west coast.

 

7. 17 October – World Trauma Day: World Trauma Day is observed every year on 17 October

Objective – To raising awareness about trauma, its causes, symptoms, and prevention. Trauma is an emotional response to accidents, injuries, physical violence, rape, natural disasters, or any other incident that affects an individual both physically as well as mentally. The main aim of observing the World Trauma Day is to educate people about the causes and consequences of trauma, and promote trauma care & prevention strategies.

 

OTHER UPDATES:

 

SPORTS

 

1. Ashutosh Sharma Breaks Yuvraj Singh’s Fastest Fifty Record: Ashutosh Sharma, recently made headlines by shattering the long-standing record set by Yuvraj Singh for the fastest fifty by an Indian player in T20 cricket.  He achieved this feat during a match against Arunachal Pradesh in the Syed Mushtaq Ali Trophy, reaching his fifty in just 11 balls. Yuvraj had held the record for the last 16 years, having struck a fifty off 12 balls against England in the inaugural T20 World Cup in 2007.

 

BANKING AND FINANCE

 

1. RBI imposes 1 crore penalty on Union Bank of India: The RBI has imposed a penalty of ₹1 crore on Union Bank of India for non-compliance with directions on ‘Loans and Advances – Statutory and Other Restrictions. Examination of the financials for FY21 revealed that the bank sanctioned a term loan to a corporation in lieu of or to substitute budgetary resources envisaged for certain projects, and without undertaking due diligence on the viability of the projects. It also fined RBL Bank for an amount of ₹64 lakh for violation of norms on regulatory approval for the acquisition of shares or voting rights in private sector banks. The lender failed to obtain the annual declaration in Form B from one of its major shareholders, within one month of the close of FY18, FY19, and FY20. It also did not furnish certificates to RBI regarding continuance of the ‘fit and proper’ status of one of its major shareholders, by the end of September, for all three years. Pune-based Bajaj Finance has also been levied a penalty of ₹8.50 lakh for breach of regulatory norms on the extent of not reporting and delay in reporting of certain frauds to RBI.

 

2. ICICI Bank introduces ‘iFinance, a One-Stop Solution: ICICI Bank has launched ‘iFinance’, which will enable customers, both retail and sole proprietors, to get a consolidated view of their savings and current accounts in one place. ‘iFinance’ provides a single-view dashboard of all accounts. Users can check account balances, get valuable insights on spending patterns, download statements and more. The dashboard offers significant convenience to users and assists them to exercise better control over expenses and monitor their finances in a seamless manner. This facility, which ICICI Bank introduced by utilizing the Account Aggregator ecosystem, is available to customers of other banks on the bank’s digital platforms, including the iMobile Pay app, Retail Internet Banking (RIB), Corporate Internet Banking (CIB), and InstaBIZ, the bank’s mobile app for businesses.

 

AWARDS AND HONOURS

 

1. R Krishnamoorthi gets Dalip Singh Saund Award for political leadership: Indian-American Congressman Raja Krishnamoorthi has been presented with the Dalip Singh Saund Award for political leadership in recognition of his “exemplary commitment to advancing the interests of Asian-American, Native Hawaiian, and Pacific Islander (AANHPI) communities in Congress. The ‘Political Leadership Award’ was presented to Krishnamoorthi by Asian American Unity Coalition (AAUC) at an event recently. Saund was the first Sikh, Indian-American to be elected to the Congress. The AAUC, which is a coalition that encompasses dozens of nonprofit organizations and lifetime members, embodies the rich tapestry of Asian-American and Native Hawaiian-Pacific Islander (AANHPI) communities, including Indian, Chinese, Filipino, Japanese, and Polynesian Americans, among others. With its mission to advocate for and uplift these diverse communities, the AAUC stands as a unifying force dedicated to addressing the unique needs and challenges faced by AANHPI individuals and organizations across the United States.