Daily GK Update- 10th May, 2022

NATIONAL UPDATES:

 

1. PESB recommends Parminder Chopra as Chairman of Power Finance Corporation: The Public Enterprise Selection Board (PESB) has recommended Parminder Chopra as a new Chairman and Managing Director of Power Finance Corporation (PFC). She will be the first woman to be appointed as the Chairman and Managing Director (CMD) of the Maharatna company. She has been working with the company since 2005. Power Finance Corporation: It is India’s largest NBFC by net worth (all reserves). It was incorporated on July 16th, 1986. Registered office: New Delhi

 

2. IIT Madras, DRDO develop sensor technology for underwater communications: IIT Madras and DRDO have developed cutting-edge sensor technology for underwater communications. The Indigenous technology will enable the fabrication of devices at a relatively lower cost. 'Piezoelectric MEMS technology' is required to develop high-performance thin films and convert 'piezo thin film' into state-of-the-art futuristic naval sensors and devices for underwater applications. The Piezo Thin Films are one of the vital components of piezo MEMS devices.

 

3. Health Ministry launches SAKSHAM Learning Management Information System : Rajesh Bhushan (Union Health Secretary) has launched the Stimulating Advanced Knowledge for Sustainable Health Management (SAKSHAM). It is a Learning Management Information System (LMIS) of MoHFW. Developed by: National Institute of Health & Family Welfare (NIHFW), New Delhi SAKSHAM is a dedicated and unified platform for providing online training and medical education to all health professionals in the country.

 

4. 50% villages are ODF Plus Under Swachh Bharat Mission Grameen Phase II: The country has achieved yet another major milestone under the Swachh Bharat Mission Gramin (SBM-G) with 50% of villages achieving ODF Plus status under phase II of the Mission. Top performing states (percentage of ODF Plus villages): Big States: Telangana (100%), Karnataka (99.5%), Tamil Nadu (97.8%) & Uttar Pradesh (95.2%) Small states: Goa (95.3%) and Sikkim (69.2%) UTs: A&N Islands, Dadra Nagar Havelli & Daman Diu and Lakshadweep (100%)

 

5. Telangana Govt introduces a Robotics Framework: The Telangana Government has introduced a Robotics Framework, for providing a roadmap to promote a robotic ecosystem in the State. This is the first-of-its-kind policy in the country. The Government will set up a Telangana Robotics Innovation Centre (TRIC) to implement the framework, which will focus on the key pillars of infrastructure access, business enablement, fostering research and innovation, development of a skilled workforce, and responsible deployment.

 

6. PM Modi launches various projects in Rajasthan : PM Modi has inaugurated and laid the foundation stone of various development projects worth over 5,500 crore rupees in Nathdwara, Rajasthan. He has also laid the foundation stone for the gauge conversion project and for setting up a new line from Nathdwara to Nathdwara town in Rajsamand. He dedicated three NH projects, including a six-lane Udaipur to Shamlaji section of NH-48 and the widening and strengthening work of the Bar-Bilara-Jodhpur Section of NH-25. 

 

7. Airtel develops Artificial Intelligence based solution to tackle fraud messages : Bharti Airtel has developed an artificial intelligence (AI)/machine learning-based solution to proactively detect, prevent, and eliminate phishing, spam, and fraud through messaging, and is testing it in partnership with HDFC Bank. Direct connectivity has been established between Airtel and HDFC to help secure end-to-end SMS (short messaging service) connectivity and flagging any other route The solution uses an anti-spam filter that can detect and block up to two million messages per day. In April 2023 Vodafone Idea (Vi) became the first telecom operator to showcase its anti-phishing solution to Telecom Regulatory Authority of India (Trai) as well as financial regulators the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).

 

INTERNATIONAL UPDATES:

 

1. India extends $1 billion credit line for Sri Lanka by a year: India has extended a $1 billion credit line for Sri Lanka by one year giving the crisis-hit country a backup infusion of dollars for essential imports. The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis early last year, was scheduled to end in March. Post-negotiations, the credit line was extended until March 2024. There is about $350 million left of the credit line that can be utilized as needed.

 

2. MakeMyTrip collaborates with Microsoft: Digital travel firm MakeMyTrip has collaborated with Microsoft to introduce voice-assisted bookings in Indian languages to make travel planning more inclusive and accessible for its customers. This new platform is powered by Microsoft Azure OpenAI and Azure Cognitive Services. The new service will enable user interactions and offer personalized travel recommendations based on their preferences. Furthermore, it will also help in curating and booking holiday packages based on variable inputs like occasion, budget, activity preferences, time of travel, hotel reviews, etc. Currently beta version of this integration has been introduced in English and Hindi for flights and holiday customers and in the next stage there will be voice-assisted booking flow to cover other transport offerings. Co-Founder & Group CEO of MakeMyTrip – Rajesh Mago

 

3. Russia stages the 78th Victory Day parade at Red Square, Moscow: Russia holds the 78th Victory Day parade anniversary at Red Square, Moscow on May 9 to commemorate the historic victory in 1945 when the Soviet Union defeated Nazi Germany in World War II, which is also known as the Great Patriotic War. This year’s parade featured more than 10,000 individuals and 125 pieces of weaponry, which were all showcased by the Russian Defense Minister, Sergey Shoigu. Victory Day is an important public holiday in Russia as it commemorates the tremendous sacrifices made by the Soviet Union during WWII, where approximately 27 million citizens perished.

 

4. 42nd ASEAN Summit begins in Indonesia : The 42nd Summit of the Association of Southeast Asian Nations (ASEAN) started in Indonesia. Theme 2023 – ASEAN Affairs: Epicenter of Growth The summit aims to demonstrate the bloc’s hopes and efforts to become the center and driving force behind global development. President Joko Widodo, who holds the presidency of the bloc, emphasized the enormous potential of the ASEAN region, which has a total population of around 650 million inhabitants and consistently outperforms the world average in terms of economic growth. He called on member countries to unite in terms of production power to make Southeast Asia the center of global growth. ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967.

 

5. Petersberg Climate Dialogue 2023 : The Petersberg Dialogue 2023 on Climate Change has been held in Berlin, Germany. The PCD series was co-hosted in Berlin by the German Federal Foreign Office and the United Arab Emirates – the incoming COP28-Presidency. Delegates from 40 countries attended this year’s high-level dialogue series, the 14th such event. Its central goal is to strengthen trust both in multilateral climate negotiations and between states. 2023 is the year of Global Stocktech. The Global Stocktake is essentially a periodic review of global climate action aimed at assessing whether current efforts will enable us to reach the objectives set out in the Paris Agreement.

 

6. 10 May – International Day of Argania: International Day of Argania or International Day of the Argan Tree is observed every year on 10 May. Objective – To promote awareness and understanding of the argan tree’s environmental importance worldwide. This holiday was established by UNESCO in 2021. In 1988, UNESCO declared the Arganeraie Biosphere Reserve, which is the endemic production area of the argan tree, as a designated area. Additionally, in 2014, UNESCO inscribed all the knowledge and know-how regarding the argan tree on the Representative List of the Intangible Cultural Heritage of Humanity.

 

OTHER UPDATES:

 

SPORTS

 

1. Praveen Chithravel sets national record in triple jump in Cuba: Indian triple jumper Praveen Chithravel won the men’s triple jump event at an athletics meet in Havana, Cuba with a national record-breaking mark of 17.37m. The previous men’s triple jump national record of 17.30m was set by Renjith Maheswary at the third Indian Grand Prix in Bangalore in 2016. Praveen Chithravel achieved his record-breaking mark with his fifth jump at the Prueba de confrontacion 2023 with a headwind reading of -1.5m/s. The permissible wind assistance for official records is +2.0m/s

BANKING AND FINANCE

 

2. Reserve Bank gold reserves rose 4.5% to 794.64 tonnes in 2022-23: RBI has added 34.22 metric tonnes of gold in the fiscal year that ended March 31, 2023, taking the total gold reserves to 794.64 metric tonnes. RBI held 760.42 metric tonnes as of March 31, 2022. A recent World Gold Council (WGC) report showed that the RBI added 7 metric tonnes of gold in January-March 2023. The latest WGC report showed that the Monetary Authority of Singapore was the largest single buyer of gold (69 metric tonnes) during January-March 2023.

 

3. AU SFB launches RuPay credit card for self-employed customers: AU Small Finance Bank has partnered RuPay to launch the Business Cashback Rupay credit card to meet the financial requirements of self-employed customers. Aim: To provide a diverse range of benefits to small businesses It was launched in the presence of Dilip Asbe (CEO, NPCI) and Sanjay Agarwal (MD & CEO of AU SFB). It simplifies financial operations for businesses with benefits like up to 2% cashback, 48 days of interest-free credit, and instant loans.

 

4. Max Life, IIA join hands to offer life insurance: Max Life Insurance has partnered with the Indian Industries Association (IIA) to provide life insurance plans to the MSME sector’s workforce in Uttar Pradesh. Aim: To enhance accessibility and drive affordable insurance penetration across UP Max Life is the appointed lead insurer for UP, under IRDAI’s State insurance plan It offers life insurance access to more than 11 lakh MSME workforce affiliated with IIA and their families in the State.

 

5. Rukart, SBI ties up for buying cold storage system 'Subjee Cooler': Rukart has tied up with SBI for providing easy loans to customers for buying the cold storage system 'Subjee Cooler' Rukart sells 'Subjee Cooler' to enhance the shelf life of fruits and vegetables by 4-6 days. It is a cold chain storage system that requires only 20 liters of water a day. The cost of the product is Rs 50,000 each and one Subjee Cooler has a storage capacity of 100 kg. It is dedicated to minimizing the carbon footprint through innovative solutions.

 

6. 27th Meeting of the Financial Stability and Development Council: Union Finance and Corporate Affairs Minister Nirmala Sitharaman chaired the 27th Meeting of the Financial Stability and Development Council (FSDC) in New Delhi. During the meeting of the Council, it was discussed that necessary policy and legislative reform measures can be formulated to further develop the financial sector. Union Finance Minister Smt. Sitharaman advised that-

 

7. RBI imposes 1.73 crore penalty on HSBC: RBI has imposed a monetary penalty of Rs 1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006. This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers. Besides, the RBI imposed a monetary penalty of Rs 2 lakh on the Trichur Urban Co-operative Bank Ltd, Thrissur, Kerala for non-compliance with directions issued by the central bank on Management of Advances – UCBs. RBI has also imposed a monetary penalty of Rs 1.25 lakh on Bhilai Nagarik Sahakari Bank Maryadit, Bhilai (Chhattisgarh) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949, and the Depositor Education and Awareness Fund Scheme, 2014.

 

AWARDS AND HONOURS

 

1. Fakhar Zaman, Naruemol Chaiwai named ICC Players of the Month for April: ICC has named Pakistan batter Fakhar Zaman as ICC Men’s Player of the Month for April 2023. While Thailand’s skipper Naruemol Chaiwai as ICC Women's Player of the Month Fakhar Zaman: He becomes the first Pakistani player to win the monthly accolade since Sidra Ameen in November 2022.Naruemol Chaiwai: She chipped in with 55 runs across the T20I series that followed, her 29 in the second T20I helping her side edge out Zimbabwe in a five-wicket win.

 

2. Argentina’s Lionel Messi wins Laureus Sportsman of the Year 2023: Argentina footballer, Lionel Messi has been named the Sportsman of the Year at the 2023 Laureus World Sports Awards. He was awarded for his remarkable achievements on the pitch in the past year, which included leading Argentina to victory in the FIFA World Cup. Sportswoman of the Year: Shelly-Ann Fraser-Pryce (Jamaica) Athletics Team of the Year: Argentina Men’s Football Team Breakthrough: Carlos Alcaraz (Spain) Tennis Comeback: Christian Eriksen (Denmark) Football

 

3. President Droupadi Murmu confers 37 Gallantry awards : President Droupadi Murmu has conferred 37 Gallantry awards to the personnel of the Armed Forces, CAPF, and State or Union Territory Police during the Defence Investiture Ceremony (Phase-1) in New Delhi. The 37 Gallantry awards include eight Kirti Chakras (including five posthumous) and 29 Shaurya Chakras (including five posthumous). The Gallantry awards were given to the personnel for displaying conspicuous gallantry, indomitable courage, and extreme devotion to duty

 

OBITUARIES

 

1. Renowned Bengali author Samaresh Majumdar passes away: Renowned Bengali author Samaresh Majumdar passes away at the age of 79. Born on March 10, 1944, novelist Majumdar is best known for his ‘Animesh’ series. He was first published in the year 1967- a novel named ‘Dour’ (Run). One of his works was even was adapted into the 2013 film ‘Arjun-Kalimpong E Sitaharan’. Majumdar is also known for ‘Uttoradhikar’, ‘Kaalpurush’, ‘Satkahan’, and ‘Adventures of Detective Arjun’. The writer-poet has innumerable accolades under his belt, including Sahitya Akademi Award which he won for ‘Kalbela’ in 1984. Apart from this, he has been conferred the Anand Award and Bankim Award. In 2018, the West Bengal government honoured him with the ‘Banga Bibhushan’ award.

Daily GK Update- 9th May, 2022

NATIONAL UPDATES:

 

1. MoHUA, MoR jointly ink MoU with JICA for Project SMART: The MoHUA and the Ministry of Railways jointly signed an MoU with Japan International Cooperation Agency for 'Station Area Development along Mumbai-Ahmedabad High-Speed Rail' (Project-SMART). Project-SMART envisages developing surrounding areas of Mumbai - Ahmedabad High-Speed Railway (MAHSR) Stations. This also aimed to enhance accessibility and convenience of commuters & other stakeholders and to promote economic activities in the vicinity of station areas.

 

2. PMJJBY, PMSBY, and APY complete 8 years of inception: Pradhan Mantri Suraksha Bima Yojana (PMJJBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMSBY), and Atal Pension Yojana (APY) have completed their 8 years of providing social security cover on May 9. PMJJBY: One-year life insurance scheme renewable from year to year offering coverage for death for any reason. PMSBY is a one-year accidental insurance scheme renewable from year to year offering coverage for death or disability due to an accident.

 

3. Ban diesel four-wheelers in cities with 10 lakh population: Panel: According to a report commissioned by the oil ministry, India should ban the use of diesel-powered four-wheelers in cities with over 10 lakh population by 2027 and switch to electric and gas-fuelled vehicles. The report of the committee headed by former Oil Secretary Tarun Kapoor It has also suggested phasing out motorcycles, scooters, and three-wheelers with internal combustion engines by 2035 It help India to achieve the goal of cutting emissions to net zero by 2070

 

4. Hindi version of Uttarakhand DGP's book 'Cyber Encounters' released: Uttarakhand CM Pushkar Singh Dhami launched the Hindi version of cybercrime named ‘Cyber Encounters’. This book was co-authored by state director general of Police (DGP) Ashok Kumar and former DRDO scientist OP Manocha. This book will help the readers in becoming aware of various cyber crimes as it has mentioned actually related cases. It will serve to inspire people to protect themselves from cybercrime.

 

5. Uttar Pradesh becomes first state to make digital health cards for children : The Uttar Pradesh's Urban Development Department and Lucknow Smart City launched a “School Health Program”. This program has been started by Lucknow Smart City in three schools in Lucknow. A digital health report card for the overall physical and mental well-being of 1765 municipal school students is also being prepared under the project. The benefit of health insurance worth Rs 25,000 is also being given to these children.

 

6. Kiren Rijiju launched the trailer of the first Tagine language film: Union minister Kiren Rijiju has launched the trailer of the "first ever" movie in the Tagin language of his home state Arunachal Pradesh. The film "Love in 90s" will be tax-free and will ask the state government to promote it through other means as well. The film looks at displaying the culture of the Tagin community before the whole country and the world. Tagin or Ghasi Miri tribe is an indigenous community of the Tawang and West Kameng districts, Arunachal Pradesh.

 

7. Telangana CM lays foundation of Hare Krishna Heritage Tower in Hyderabad: Telangana Chief Minister K. Chandrasekhar Rao has laid the foundation for the Hare Krishna Heritage Tower in Hyderabad. The 400 feet (120 meters) tall structure will be constructed on six acres of land in Narsingi at a cost of Rs 200 crore. The tower will house the temples of Sri Sri Radha Krishna and Sri Venkateswara Swamy. The chief minister announced Rs 25 crore on behalf of the state government for the construction of the temple. The tower will be another cultural landmark for Hyderabad. It will highlight the Telangana heritage in the form of Kakatiya architectural elements. Accommodation facility will be available for 1,500 devotees.

 

8. New Lithium deposits discovered in Rajasthan after J-K : After Jammu and Kashmir, Lithium reserves have been traced in the Degana district of Rajasthan. According to officials, the lithium reserves are higher than the ones recently found in Jammu and Kashmir. Officials have also informed, that the quantity of lithium here can meet around 80% of India’s demand. For the first time, lithium reserves were found in Jammu and Kashmir’s Reasi in February 2023. This was the first significant mineral discovery in India, as previously only a small reserve had been discovered in Karnataka. It attributes the discovery to the mines ministry’s new focus on rare earth. Lithium reserves are concentrated in the lithium triangle in South America – Argentina, Bolivia & Chile, with 50% of the deposits concentrated in these regions. China, meanwhile, has the lead over other countries and China controls 75% of Lithium refining. India’s plan to increase EV penetration by 30% by 2030 relies heavily on lithium – as of now, only a little more than 1% of all vehicle sales in the country are electric vehicles.

 

9. ISRO to start online training programme for PG and and final-year UG students: The Indian Space Research Organization (ISRO) has announced a new introductory-level online training programme called Space Science and Technology Awareness Training (START). START is aimed at postgraduate and final-year undergraduate students of Physical Sciences and Technology. The programme will cover various domains of Space Science, including Astronomy and Astrophysics, Heliophysics and Sun-Earth interaction, Instrumentation, and Aeronomy. It will be delivered by scientists from Indian academia and ISRO centres. Academic institutions can submit applications for the programme through the Jigyasa portal by May 20.

 

INTERNATIONAL UPDATES:

 

1. The 42nd ASEAN Summit begins in Indonesia: The 42nd Summit of the Association of Southeast Asian Nations (ASEAN) started in Indonesia on May 8, 2023. 2023 theme: ASEAN Affairs: Epicenter of Growth Aim: To demonstrate the bloc’s hopes and efforts to become the center and driving force behind global development ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967. Aim: To promote economic growth in the Southeast Asian region

 

2. Border Haat between India and Bangladesh inaugurated at Bholaganj in Sylhet : A new Border-Haat between India and Bangladesh was inaugurated in Bholaganj under the Companiganj upazila of Sylhet. Expatriates’ Welfare and Overseas Employment Minister of Bangladesh Imran Ahmed and Assistant High Commissioner of India Niraj Kumar Jaiswal jointly inaugurated the Border-Haat. This is the fourth Border Haat in Sylhet division out of which three are currently functional. Three more Border Haats are planned to be opened in the Sylhet division. The Border Haat will function on Wednesdays and Saturdays between 10 in the morning to 4 in the afternoon. The Bholaganj Border Haat will have 26 stalls from India and 24 stalls from Bangladesh where traditional items from both countries will be sold duty-free.

 

OTHER UPDATES:

 

SPORTS

 

1. TNCA launches talent scout program for women: The Tamil Nadu Cricket Association (TNCA) has launched a Talent Scout Program for women to unearth new talents. The Talent Scout Wing which will comprise former men and women first-class cricketers and coaches, will help in identifying the talent across the state The TNCA has formed four groups of four members each who will cover all 37 districts in Tamil Nadu. Any player who is above 13 years of age can attend the trials.

 

BANKING AND FINANCE

 

1. Fitch lowered India’s GDP growth forecast to 6% for 2023-24: Fitch Ratings has predicted India's GDP growth forecast for 2023-24 to 6% from 6.2% and 6.7% in 2024-25. Reason: Headwinds from elevated inflation, interest rates, and subdued global demand The rating firm has also reaffirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable outlook ‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate

 

2. RBI imposes ₹1.73 crore fine on HSBC for wrong credit card data: RBI has imposed a monetary penalty of ₹1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006. HSBC has furnished incorrect credit information regarding several expired credit cards with nil dues to all four credit information companies. The RBI imposed the penalty in the exercise of powers conferred under the provisions of Section 25(1) and Section 23(4) of the CIC (Regulation) Act, 2005.

 

3. RBI parks incremental reserves in US treasuries, other sovereign securities: The Reserve Bank of India (RBI) has deployed its incremental reserves in bonds and securities, focusing on US Treasuries and debt issued by other top-rated sovereigns. Reason: To manage its foreign currency assets and ensure the stability of the Indian economy The latest half-yearly report on foreign exchange management showed that as of end-March 2023, of the total foreign currency assets of $509.69 billion, $411.65 billion was invested in securities.

 

4. Capital SFB partnered with Max Life to offer life insurance solutions: Capital Small Finance Bank Limited has partnered with Max Life Insurance Company Limited to offer life insurance offerings to Capital SFB’s customers. Through this tie-up, Capital SFB will offer its customers a range of savings, protection, retirement, and group life insurance plans of Max Life. Prior to Max Life, Capital Small Finance Bank has also partnered with ICICI Prudential Life Insurance Limited and HDFC life insurance Limited to provide their life insurance products to its customers. MD & CEO of Capital SFB – Sarvjit Singh Samra

 

5. BharatPe rebrands PAYBACK India as ‘Zillion’: BharatPe Group has rebranded its multi-brand loyalty program, Payback India to Zillion. It aims to target customers across age groups and add a new dimension to their overall shopping experience, across categories and brands. Zillion will offer a wide range of options for customers to earn and redeem at a wide range of partners across the country. Customers will be able to earn Zillion coins across the network of offline and online partners, including groceries, fuel, entertainment, travel, apparel, and more. BharatPe CEO (Interim) – Nalin Negi

 

6. Cashfree Payments tie up with YES Bank to offer international payment collection: Cashfree Payments and YES Bank have partnered to offer ‘Global Collections’, an international collection service for exporters, who are account holders of YES Bank. Under this partnership, the bank’s account holders will be able to collect payments in over 30 foreign currencies using the Global Collections service. The funds so received can then be converted into rupee and settled into their local bank account in India within one business day. Additionally, it will also enable global collections in over 30 currencies up to the equivalent of USD 10,000 in line with the Reserve Bank of India’s (RBI’s) Online Payment Gateway Service Providers (OPGSP) requirements and guidelines.

 

AWARDS AND HONOURS

 

1. Barbara Kingsolver and Hernan Diaz win Fiction Pulitzer Prize 2023: Barbara Kingsolver (American Novelist) and Hernan Diaz (Argentina Writer) were awarded the Pulitzer Prize 2023 in the fiction category. Barbara Kingsolver was awarded for her novel 'Demon Copperhead' and Hernan Diaz won for his novel 'Trust'.

Other categories:

·       Drama: English, by Sanaz Toossi

·       Biography: G-Man: J. Edgar Hoover and the Making of the American Century, by Beverly Gage (Viking)

·       Memoir or Autobiography: Stay True, by Hua Hsu (Doubleday)

 

OBITUARY

 

1. Renowned Bengali author Samaresh Majumdar passes away: Renowned Bengali author Samaresh Majumdar passed away at 79. He was best known for his political trilogy – Uttaradhikar, Kalbela, and Kalpurush. He has conferred the Sahitya Akademi Award for ‘Kalbela’, which was set against the backdrop of the Naxalite movement. He was awarded ‘Bangavibhushan’ by the West Bengal government in 2018. Famous books are: Daur, Kalbela, Kalpurush, Garbhadharini, Uttaradhikar, Arjun Samagra, Satkahan etc

Daily GK Update- 8th May, 2022

NATIONAL UPDATES:

 

1. India's first Air Force Heritage Centre inaugurated in Chandigarh: Defence Minister, Rajnath Singh has inaugurated India's first Indian Air Force Heritage Centre in Chandigarh. It will highlight the IAF’s role in various wars. It also houses the first IAF-made patent aircraft Air Force ‘Kanpur-1 Vintage Prototype Aircraft’, a single-engine indigenous flying machine designed and built by the late Air Vice Marshal Harjinder Singh in 1958. In June 2022, an MoU on the heritage centre was signed between the Chandigarh administration and IAF.

 

2. Union Minister G Kishan Reddy inaugurates PM Jan Aushadhi Kendra: Union Tourism Minister G Kishan Reddy inaugurated a PM Jan Aushadhi Kendra at Warasiguda in Secunderabad. Aim: To provide affordable healthcare and generate self-employment opportunities for youth

It was launched to make quality generic medicines available to the common man at a low cost.

PM Bhartiya Janaushadhi Pariyojana: Launched by: Department of Pharmaceuticals,  Ministry of Chemicals and Fertilizers Initially launched in 2008 The scheme was rechristened in 2015

 

3. Minister Piyush Goyal to attend 6th India- Canada Ministerial Dialogue: Union Minister of Commerce & Industry, Piyush Goyal, and Mary Ng, Minister of International Trade, Canada have co-chaired the discussions for the sixth India- Canada Ministerial Dialogue on Trade and Investment (MDTI) in Ottawa. MDTI is a bilateral mechanism that provides an institutional mechanism to discuss a broad spectrum of trade and investment-related issues and cooperation areas. The Ministers have also reviewed India-Canada CEPA negotiations.

 

4. New Lithium deposits discovered in Rajasthan after J-K: After Jammu and Kashmir, lithium reserves have been traced in the Degana district of Rajasthan. According to officials, the lithium reserves are higher than the ones recently found in Jammu and Kashmir. Officials have also informed, that the quantity of lithium here can meet around 80% of India's demand. For the first time, lithium reserves were found in Jammu and Kashmir's Reasi in February 2023. Lithium is a key component of batteries used in electric vehicles.

 

5. MoS Nityanand Rai inaugurates Dawki land port in Meghalaya: Union Minister Nityanand Rai has inaugurated the Dawki Land Port in West Jaintia Hills district, Meghalaya. Aim: To promote trade and commerce between India and Bangladesh The corresponding Land Port in Bangladesh is Tamabil, located in the Sylhet district. The Dawki Land port will facilitate the movement of goods, people, and vehicles across the border. It will also facilitate passenger movement across the border.

 

6. Mumbai-Ahmedabad High Speed Rail Corridor (MAHSR): The total length of the corridor between Ahmedabad and Mumbai is 508 km, of which 348 km falls in Gujarat and 156 km in Maharashtra. The remaining four kilometers will fall in Dadra Nagar Haveli. A total of 12 stations will be set up in the journey between Ahmedabad and Mumbai, of which eight stations will be in Gujarat and four in Maharashtra.

 

7. First Pharma Park to be built in Uttar Pradesh: The Uttar Pradesh government has approved the establishment of the state’s first Pharma Park in Lalitpur district of Bundelkhand. The project will require the transfer of 1500 hectares of land from the Animal Husbandry Department to the Industrial Development Department.The state government will spend Rs 1560 crore for development works and providing necessary facilities to the investors in Lalitpur Pharma Park. Entrepreneurs setting up units in Pharma Park will be given 100% exemption in stamp duty on land purchase, capital subsidy, construction of houses for laborers, employment generation etc. by the government. Apart from the Pharma Park, the Uttar Pradesh government is also setting up a Medical Device Park on 350 acres of land at the Yamuna Expressway Industrial Development Authority (YIDA) in Gautam Buddha Nagar. The park is located in Sector 28 of YIDA, where plots have been allotted to 50 entrepreneurs so far.

 

8. INS Magar decommissioned after 36 years service to the country : INS Magar, the oldest landing ship of the Indian Navy has decommissioned after a prestigious service to the country for 36 years. The ship, commanded by Cdr Hemant V Salunkhe, has decommissioned at a sunset ceremony held at the Naval Base here. INS Magar was launched on November 16, 1984 by Meera Tahiliani and commissioned on July 18, 1987 at Garden Reach Shipyard and Engineers Limited, Kolkata by late Admiral R H Tahiliani. During her service, she participated in numerous operations, amphibious exercises and humanitarian missions and operations including Samudra Setu wherein more than 4,000 Indian nationals were repatriated from various corners of the world, during the COVID-19 pandemic. The ship was also instrumental in evacuation of over 1,300 survivors post Tsunami in 2004 and had been part of several joint military exercises with the Indian Army. In 2018, the vessel was converted into a training ship and joined the First Training Squadron at Kochi.

 

INTERNATIONAL UPDATES:

 

1. Rocket Lab launches NASA satellites to study tropical storms and hurricanes: Rocket Lab has launched NASA's two satellites to study tropical storms and hurricanes. The two CubeSats, the founding members of the agency's TROPICS network, launched atop a Rocket Lab Electron rocket, which was lifted off from New Zealand. Aim: To improve forecasting and provide new insights into how tropical storms evolve and intensify The TROPICS constellation will consist of four CubeSats in low Earth orbit.

 

2. World Red Cross Day 2023: May 8: World Red Cross Day is celebrated on May 8 every year to honor the birth anniversary of Henry Dunant, who founded the Red Cross. World Red Cross Day is also known as Red Crescent Day. The theme of World Red Cross Day 2023 is ‘Everything we do comes #fromtheheart’. This day recognizes the significant contributions of the International Red Cross toward providing humanitarian services to individuals regardless of their race, religion, or political beliefs.

 

3. World Thalassaemia Day 2023: 8 May: World Thalassaemia Day is celebrated every year on May 8 to create awareness about the disorder and explore treatment options. 2023 theme: Be aware. Share. Care: Strengthening Education to Bridge the Thalassaemia Care Gap This day was created by Panos Englezos (President and Founder of the Thalassemia International Federation) in 1994. Thalassemia is a genetic blood disorder that is inherited by children from their parents.

 

4. Joe Biden appoints Indian-American Neera Tanden as Domestic Policy Advisor: United States President, Joe Biden named Indian-American Neera Tanden as his Domestic Policy Advisor to help him craft and implement his domestic policy agenda. She has replaced Susan Rice as Biden's Domestic Policy Advisor. She served in both the Obama and Clinton administrations, as well as presidential campaigns and think tanks. Tanden previously served as senior advisor for health reform at the Department of Health and Human Services.

 

5. Japan to train 1000 Indian engineers for bullet train project: Japan has decided to provide specialized training to 1,000 Indian engineers ahead of starting work on the high-speed rail track system for the Mumbai-Ahmedabad High Speed Rail Corridor (MAHSR). The bullet train being built between Mumbai and Ahmedabad will use the ballast-less Slab Track system (popularly known as J Slab track system) as used in Japanese Shinkansen high speed railways. For this purpose, 20 Japanese experts will provide intensive training to Indian engineers, supervisors and technicians and certify their skills. The Japanese track system is one of the best in the world and its construction requires a very high level of skill from all the technicians. According to the National High Speed Rail Corporation Limited (NHSRCL) in this regard, the track is the most important part of the HSR system and needs to be laid with a very high degree of precision.

 

6. India operationalizes Sittwe Port in Myanmar: India has operationalized the Sittwe Port in Myanmar with the departure of the inaugural shipment, the MV-ITT LION (V-273), from Syall Prasad Mookerjee Port, Kolkata. The initiative is part of the Kaladan Multimodal Transit Transport project. The port, built under a grant assistance from the Indian government, has been developed under a framework agreement between India and Myanmar for the construction and operation of a multimodal transit transport facility on Kaladan river. The port will open up new opportunities for trade and transit from and to Myanmar, particularly the Rakhine state and further enhance trade and commerce between the two countries and the wider region.

 

7. 7 May 2023 – 64th Raising Day of Border Roads Organization (BRO): Border Roads Organization (BRO) celebrated its 64th Raising Day on 7 May 2023 at all its detachments across the country. The main function ‘Chief Engineers and Equipment Management Conference’ was organized at BRO School & Centre in Pune. To mark the day, the Raksha Rajya Mantri inaugurated the BRO Technical Training Complex and an Automated Driving Track at the premises. These facilities will enhance the training standards of the BRO personnel and help them to be better prepared for various challenges. The BRO, in more than six decades, has constructed over 61,000 kms of roads, over 900 Bridges, four Tunnels and 19 airfields under challenging conditions along India’s borders and in friendly foreign countries, including Bhutan, Myanmar, Afghanistan and Tajikistan. In 2022-23, the BRO completed 103 infrastructure projects, the most by the organisation in a single year. These include construction of Shyok Bridge in Eastern Ladakh and Steel Arch Siyom Bridge of Load Class 70 in Arunachal Pradesh on Along-Yinkiong Road.

 

OTHER UPDATES:

 

SPORTS

 

1. Spain's Carlos Alcaraz wins Madrid Open 2023: Spanish tennis player, Carlos Alcaraz has successfully defended his title at Madrid Open 2023 and won his fourth ATP Tour trophy of the year and his tenth overall. In the final, he defeated Jan-Lennard Struff (German) 6-4 3-6 6-3. While Aryna Sabalenka from Belarus has clinched the Women's singles title at Madrid Open 2023.

Other winners:

·       Men's doubles: Karen Khachanov /  Andrey Rublev

·       Women's doubles: Victoria Azarenka / Beatriz Haddad Maia

 

2. India claims 14 Medals in Asia Cup Stage 2 Archery: India has bagged 14 medals at the Asia Cup Stage 2 World Ranking Tournament to top the event in Tashkent. In 14 medals seven were gold, five were silver and two bronze. India won gold medals in all the categories except women’s individual recurve and mixed recurve and won silver medals in these two categories. The Indian trio of Mrinal Chauhan, Partha Salunkhe and Juyel Sarkar defeated Bangladesh 5-1 in the final of the men’s recurve team event to win the gold medal. The women’s recurve team of Avni, Bhajan Kaur and Lakshmi Hembrom beat Bangladesh 5-4 in the gold medal decider in their final match.

 

3. Max Verstappen wins Miami F1 Grand Prix: Max Verstappen has won the Miami Formula One Grand Prix title. Verstappen defeated Sergio Perez to win the Miami GP. Fernando Alonso claims third-place while George Russell was fourth place. Red Bull have now won all five races of the 2023 season.

 

 

 

 

BANKING AND FINANCE

 

1. Visa launches CVV-free payments for tokenized credit in India : Visa has launched a new feature CVV-free payments in India that allows users to make online payments without the need for a CVV number. This facility is applicable on tokenized credit and debit cards and is available only for domestic transactions in India. The card is tokenized by securing it with a unique code and transactions are completed using a two-factor authentication process that does not require the 16-digit card number or any other card details. The new authentication method protects users from cyber fraud as the token cannot be used on another platform. CVV stands for card verification value. It’s a three- or four-digit number found on most debit and credit cards.

Daily GK Update- 7th May, 2023

NATIONAL UPDATES:

 

1. Ajay Vij appointed as managing director of Accenture India : Accenture board has appointed Ajay Vij as the MD of Accenture India, succeeded Rekha M. Menon, who retired after 20 years. He will be responsible for expanding his current responsibilities as Corporate Services & Sustainability lead to provide overall leadership and drive coordinated decision-making. While Sandeep Dutta will lead the company's Market Unit He will serve as the company's India business lead and drive business and operations.

 

2. Centre for Innovation Incubation Research and Entrepreneurship inaugurated: The Centre for Innovation Incubation Research and Entrepreneurship was inaugurated at the KITS Warangal campus in Telangana. It was inaugurated by  Telangana's IT Minister K Taraka Ramarao. The govt has promoted innovation and entrepreneurship in the student community to inculcate research and innovative skills among the students, faculty, and young researchers. Aim: To face the latest Engineering, technological, and entrepreneurship challenges in the 21st Century.

 

3. INSV Tarini on her return passage to India : Indian naval sailing vessel, Tarini will be returned to India after a six-month-long transoceanic intercontinental expedition. It commenced from Goa on November 17, 2022, and is scheduled to be completed at the same venue on May 24, 2023. During the expedition, Tarini sailed to Rio de Janeiro, Brazil via Cape Town, South Africa, participating in Cape to Rio Race 2023 Tarini will complete an arduous 17,000 nautical miles passage when she touches the Indian shores again

 

4. Border Roads Organisation Project Dantak 64th Raising Day: Border Roads Organisation (BRO) celebrated its 64th Raising Day on May 07, 2023, at all its detachments across the country. On this occasion, BRO-centric software, developed as part of the ‘Digital India’ initiative, was also launched. PM has also praised the initiative by BRO Project Dantak to commemorate the 64th Raising Day.

·       About Project DANTAK:

·       This project was established on 24th April 1961.

·       DANTAK was tasked to construct the pioneering motorable roads.

 

5. India operationalizes Sittwe port in Myanmar: India has operationalized the Sittwe Port in Myanmar with the departure of the inaugural shipment, the MV-ITT LION (V-273), from Syama Prasad Mookerjee Port, Kolkata. It is a part of the Kaladan Multimodal Transit Transport project. IT carried 20,000 bags containing 1,000 metric tonnes of cement and is expected to reach Sittwe Port on 9 May. It was built under a grant of assistance from the Indian government. Aim: To boost trade and commerce between the two countries

 

6. SJVN secures 100 MW wind power project in Gujarat: State-owned SJVN Ltd has secured a 100 MW grid-connected wind power project in Gujarat. The project was awarded to SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN, through a competitive bidding process followed by an e-reverse auction organized by Gujarat Urja Vikas Nigam Limited. The project, with an estimated cost of $108 million, will be developed by SGEL through an EPC contract and can be set up anywhere in India. In its first year, it is projected to generate 281 million units of electricity, with a 25-year total of 7,025 million units. The project will also help reduce carbon emissions by 344,255 tons. SJVN also emphasizes the importance of bolstering its green energy portfolio and advancing toward its 50,000 MW target by 2040.

 

INTERNATIONAL UPDATES:

 

1. World Athletics Day 2023: 7 May: World Athletics Day 2023 is observed every year on May 7 to mark the importance of athletes and sportspersons globally. The theme for World Athletics Day 2023 is 'Athletics for All – A New Beginning'. This day was established by the late Primo Nebiolo, the then-president of the International Association of Athletics Federations (IAAF). The first World Athletics Day was held on May 15, 1996. The IAAF was founded in Stockholm, Sweden on July 17, 1912.

 

2. NMCG organizes River-Cities Alliance Global Seminar: NMCG and the National Institute of Urban Affairs jointly organized the ‘River-Cities Alliance Global Seminar: Partnership for Building International River-Sensitive Cities’ in New Delhi. Aim: To provide a platform for officials of member cities and international stakeholders to discuss and learn good practices for managing urban rivers This seminar has witnessed the participation from Embassies/High Commissions of selected countries and their respective river cities.

 

3. Mark Nicholas to become next president of MCC: Former England cricketer and veteran commentator Mark Nicholas has been elected as the next president of the Marylebone Cricket Club (MCC). Nicholas will replace current president Stephen Fry and will assume responsibilities in October this year. His appointment was announced at the Club’s Annual General Meeting. Nicholas, who was elected as a Member of MCC in 1981, is one of the most recognizable figures in televised cricket, leading coverage at the very top of the game across the world. Mark scored over 25,000 runs – including an unbeaten hundred for MCC at Lord’s against the 1985 Australians – and took 173 wickets in a professional career spanning over two decades. He also captained Hampshire to four major trophies, three of which came in finals at Lord’s. He moved into the media following his retirement as a cricketer when he played as a top-order batter and medium-pace bowler for Hampshire and captained England A. Mark is a regular on ICC commentary teams for their global tournaments.

 

1. Wakefit signs Bollywood actor Ayushmann Khurrana as brand ambassador: Manufacturer of mattresses, Wakefit Innovations Private Limited, has signed actor Ayushmann Khurrana as Wakefit.co’s brand ambassador. Besides being the face of the brand and spearheading upcoming campaigns, the actor will also help the brand in spreading awareness about sleep health and its importance in the modern context. In 2022, the company also announced its offline retail expansion and has launched 22 physical stores across the country with plans to open up more than 100 stores.

 

2. 6 May – International No Diet Day : International No Diet Day is celebrated every year on May 6. The day aims to promote body positivity and encourage people to embrace their physical appearance. It is a day to reject the societal pressures and unrealistic beauty standards that often lead to harmful dieting practices. In 1992, British feminist Mary Evans Young first came up with the idea of International No Diet Day. Young wanted to create a day that embraced bodies of all sizes because she had struggled with an eating issue herself.

 

OTHER UPDATES:

 

SPORTS

 

1. Bindyarani Devi wins silver at Asian Weightlifting Championships 2023: Indian weightlifter, Bindyarani Devi has won the silver in the women's 55kg category at the Asian Weightlifting Championships 2023, held in South Korea. She had lifted a total weight of 194kg (snatch 83kg and 111kg in clean & jerk) in the non-Olympic 55kg category. Chen Guan Ling (China) won the gold medal with a combined lift of 204kg (snatch 90kg + clean & jerk 114kg) and Vo Thi Quynh Nhu (Vietnam) won the bronze with a lift of 192kg.

 

2. Javelin thrower Neeraj Chopra clinches Doha Diamond League title: Olympic champion javelin thrower Neeraj Chopra won the Diamond League title with 88.67 m throw in Doha. Czech Republic’s Vadlejch stood second, with Grenada’s Peters finishing third. The 25-year-old Chopra, who had pocketed the 2022 Diamond League Final trophy in Switzerland last September, beat a star-studded field with a best throw of 88.67m to begin his season in style. On the other hand, India’s Eldhose Paul, who is a champion in triple jump at the Commonwealth Games, secured the 10th position in a field of 11 men during his Diamond League debut.

 

BANKING AND FINANCE

 

1. Max Life, Capital SFB ties up to offer life insurance solutions : Capital Small Finance Bank Limited has partnered with Max Life Insurance Company Limited to offer life insurance offerings to Capital SFB’s customers. Capital SFB would offer its customers a range of savings, protection, retirement, and group life insurance plans of Max Life. Capital SFB has also partnered with ICICI Prudential Life Insurance Limited and HDFC life insurance Limited to provide their life insurance products. MD & CEO, Capital SFB: Sarvjit Singh Samra

2. BharatPe rebrands PAYBACK India as ‘Zillion’ : BharatPe Group has rebranded its multi-brand loyalty program, Payback India to Zillion. Aim: To target customers across age groups and add a new dimension to their overall shopping experience, across categories and brands Zillion will offer a wide range of options for customers to earn and redeem at a wide range of partners across the country. The customers will be able to earn ‘Zillion coins’ for their routine spending.

BharatPe CEO (Interim): Nalin Negi

 

3. SEBI launches LEI system : The Securities and Exchange Board of India (SEBI) has introduced the Legal Entity Identifier (LEI) system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts. The LEI is a unique global identifier for legal entities participating in financial transactions. Its purpose is to create a global reference data system that uniquely identifies every legal entity that is a party to a financial transaction. The LEI code is a 20-character code to identify legally distinct entities that engage in financial transactions. The LEI system will enable greater transparency and better risk management in the financial markets. The LEI system will also help prevent fraud and financial crimes by properly identifying and verifying legal entities participating in financial transactions. The Reserve Bank of India (RBI) mandates non-individual borrowers having an aggregate exposure of above Rs 25 crore to obtain the LEI code.