Daily GK Update- 11th June, 2023

NATIONAL UPDATES:

 

1. Haryana CM launches integrated Water Resources Action Plan: Haryana Chief Minister Manohar Lal has launched an integrated Water Resources Action Plan-2023-25 under Amrit Jal Kranti at Chandigarh. The initiative is aimed at conserving water resources in the state. Earlier, the Mera Pani-Meri Virasat Yojana was implemented effectively. The action plan has been prepared by all the departments for water conservation in the state.

 

2. Piyush Goyal chairs 6th meeting of NTTM: The 6th Mission Steering Group meeting of the National Technical Textiles Mission (NTTM) was chaired by Piyush Goyal in New Delhi. It aims to catalyze research and innovation in Technical Textiles in India. Ministry of Textiles also approved 20 Research and Development projects worth over 61 crores rupees across key strategic areas of Geotech, Protech, Indutech, Sustainable Textiles, Sportech, Buildtech segments, and Carbon Fibre and Ultra High Molecular Weight Poly Ethylene during the MSG meeting.

 

3. Karnataka announces free bus travel ‘Shakti’ scheme for women: The Karnataka government has advised women to apply for Shakti smart cards to avail the free travel in state-run buses, starting from June 11. The government has already issued a set of guidelines on the ‘Shakti’ scheme, which is one of the major poll promises by the Congress party in Karnataka. According to the transport department of Karnataka, women can apply for Shakti smart cards through sevasindhu.karnataka.gov.in from June 11. Government buses in Karnataka ferry about 40 lakh women daily. The number is expected to rise by 10 percent under the free travel scheme, which will cost the government about Rs 4,700 crore per year.

 

4. Kerala govt launched a reward system for reporting illegal waste roads: The Kerala government has launched a new scheme to reward for reporting illegal waste dumping on roads. This scheme is a part of the 'Malinya Muktham Nava Keralam' campaign to make the state garbage-free. Under this scheme, citizens would report about the littering/dumping (solid and liquid waste) in public spaces, private property and water bodies. The person who informs authorities of such violations will be given Rs 2,500 (maximum) or 25% of the fine imposed.

 

5. Uttar Pradesh to gift GI-tagged Gulabi meenakari handicrafts to G20 guests: Uttar Pradesh government has decided to gift GI-tagged Gulabi meenakari handicrafts for the visiting delegates from G20 nations. A group of more than 100 trained artisans were mobilized to fulfil the order of Gulabi meenakari peacocks for the G20 delegates. Gulabi meenakari is one of the rarest crafts in India that is practised in the by lanes of Varanasi, near Gai Ghat. The GI certification and ODOP initiative have got new recognition all over the world.

 

6. Army signs pact for procurement of 'tactical LAN radio': The Indian Army has sealed a deal with a Bengaluru-based company, M/s Astrome Tech Pvt Ltd to procure the indigenously-developed "tactical LAN radio". Tactical LAN radio: It is a state-of-the-art high-bandwidth backhaul wireless radio equipment for the provisioning of reliable communication. It is the second contract that the Army has firmed up under the framework of Innovations for Defence Excellence (iDEX). iDEX was launched by Prime Minister Narendra Modi in 2018.

 

7. WBIDC, Ficci, Amazon host e-commerce exports meet: State industrial nodal body WBIDC, Amazon Global Selling, and Ficci will jointly organize an e-Export Haat in West Bengal. Agenda: To expand their businesses globally through e-commerce exports This event was conceptualised as a knowledge-sharing, training and capacity-building forum to enable small businesses from the state to create robust exports businesses and global brands. The event participated by more than 200 potential exporters and MSMEs.

 

INTERNATIONAL UPDATES:

 

1. Anantharaman appointed chairman of TransUnion Cibil: Credit bureau TransUnion CIBIL has appointed banker V Anantharaman as non-executive chairman. Anantharaman takes over from Mr. M V Nair, who served as the chairman for over eleven years. Anantharaman has worked in the banking industry for over three decades having led corporate and investment banking teams in leading international firms including Standard Chartered Bank, Credit Suisse, Deutsche Bank, and Bank of America. Anantharaman was also a senior advisor to British International Investment (formerly CDC), UK’s Development Finance Institution.

 

OTHER UPDATES:

 

SPORTS

 

1. Japanese Tokito Oda becomes Youngest Grand Slam Wheelchair Champion 2023: Japan’s Tokito Oda defeated top-ranked Alfie Hewett of Britain 6-1, 6-4 in the French Open wheelchair final to become the sport’s youngest Grand Slam champion 2023. The 17-year-old is also guaranteed to become the youngest ever world number one in the discipline. With this win, he also becomes the sport’s youngest Grand Slam champion. While Diede de Groot from Netherlands has secured the 2023 French Open – Wheelchair women’s singles. Alfie Hewett and Gordon Reid (Britain) won the Men’s Double title, and Yui Kamiji and Kgothatso Montjane won the Women’s Double title.

 

2. India wins maiden title of Women's Junior Asia Cup 2023 hockey: The Indian Women's hockey team defeated Republic of Korea to win the Women’s Junior Asia Cup 2023 title in Kakamigahara, Japan. This is the first time India have won the Women's Junior Asia Cup. Recently, India had secured a spot in the FIH Women's Junior World Cup 2023 in Chile. Japan beat China 2-1 to become the third team to qualify for the World Cup scheduled this year. For India, Annu and Neelam were on target while Seoyeon Park scored the solitary goal for Korea.

 

3. India’s long jumper Murali Sreeshankar wins bronze at Diamond League Meet: Ace Indian long jumper, Murali Sreeshankar has secured a third place, with a jump of 8.09m, in the 2023 Diamond League Meet at Paris, France. With this, he also became the only third Indian to finish in the top three of a Diamond League after Neeraj Chopra (Javelin thrower) and Vikas Gowda (former discus thrower). Miltiadis Tentoglou of Greece secured Gold with a jump of 8.13m and Simon Ehammer of Switzerland won silver with a jump of 8.11m.

 

BANKING AND FINANCE

 

1. India tops digital payments rankings globally: MyGovIndia: According to the MyGovIndia govt data, India has topped the global rankings in digital payments for the year 2022. During the year under review, there were 5 million digital transactions in the country. India accounted for 46% of the global real-time payments in 2022, which was more than the combined digital payments the next four top countries. This shows the robustness of India's payment ecosystem as well as the country's acceptance of the digital.

 

2. SBI to raise ₹50,000 crore in FY24: State Bank of India (SBI) has received board approval to raise ₹50,000 crore through debt instruments during These debt instruments could include long-term bonds, Long Term Bonds, Basel III compliant Additional Tier 1 Bonds and Basel III compliant Tier 2 Bonds. The resources will be raised through private placement mode to Indian and/or overseas investors during FY24, subject to the government’s approval wherever required.

Daily GK Update- 10th June, 2023

NATIONAL UPDATES:

 

1. Minister Sarbananda Sonowal launches ‘SAGAR SAMRIDDHI’: Union Minister of Ports, Shipping & Waterways (MoPSW), Sarbananda Sonowal launched ‘SAGAR SAMRIDDHI’, an online dredging monitoring system. Aim: To accelerate ‘Waste to Wealth’ initiative of the Ministry This system has been developed by National Technology Centre for Ports, Waterways and Coasts (NTCPWC) the technological arm of MoPSW. The new technology brings in marked improvement against the old system of Draft & Loading Monitor (DLM) system.

 

2. ICAR signs a MOU with Amazon Kisan to empower farmers: ICAR has signed a MoU with Amazon Kisan to combine strengths and create synergy between the two organizations. Aim: To guide the farmers on scientific cultivation of different crops for optimum yield and income ICAR will provide technological backstopping to the farmers through Amazon’s network It will improve farmers’ livelihood and boost crop yield. This MoU will help ensuring access to high quality fresh produce for consumers across India.

 

3. Madhya Pradesh govt launched ‘Ladli Bahna’ scheme: MP government has launched ‘Ladli Bahna’ scheme to make women financially independent. In this scheme, each woman will be given 1000 rupees per month. MP CM Shivraj Singh Chouhan has deposited the first month's amount of this scheme in the bank accounts of about 1.25 crore women at a State-level function in Jabalpur. The State government has also issued a phone number 181 for the help of women. Ladli Bahna Army also formed for women empowerment and security.

 

4. IICA and RRU sign MoU for academic and research collaboration: Indian Institute of Corporate Affairs (IICA) and Rashtriya Raksha University (RRU) signed an MoU for academic and research collaboration. Aim: To synergise the professional capabilities towards capacity building, education, research and consulting in the domain of Internal Security, Financial Crimes, Law Enforcement, Corporate Frauds and other subject matters common to their mandate and objectives It provides for exchange of knowledge and resources

 

5. IGI Airport introduces DigiYatra facility: Indira Gandhi International Airport (IGI) has introduced a new facility DigiYatra to make travel easier. DigiYatra allows passengers to enjoy the benefits without having to download the mobile application. The initiative has been launched at Terminal 3 and it simplifies the registration process for the passengers into three steps. Passengers can use this facility by scanning the boarding pass and face along with presenting identification proof to the security staff deployed near the registration desk. Once registered successfully, passengers will be able to experience seamless travel within the terminal, which includes the security check area and the boarding gates.

 

 

INTERNATIONAL UPDATES:

 

1. Microsoft launched voice chat feature to AI-powered Bing Chat: Microsoft has launched a new 'voice chat' feature to its AI-powered Bing Chat on the desktop. Aim: It will help users to talk to the AI chatbot by clicking on the microphone icon in the Bing Chat box Currently, the voice chat feature supports five languages- English, Japanese, French, German, and Mandarin. More languages will be added soon. Bing Chat supports text-to-speech answers, which will respond to your questions in its own voice.

 

2. WHO report highlights significant impact of 'Har Ghar Jal' Programme: The  World Health Organisation (WHO) report has highlighted significant impacts of 'Har Ghar Jal' Programme on public health and economic savings. The report on ‘Har Ghar Jal’ estimates that ensuring safely managed drinking water for all households in the country. The ‘Har Ghar Jal’ report focuses on diarrheal diseases as they contribute significantly to the overall disease burden related to water, sanitation, and hygiene issues.

 

3. US, UK back new 'Atlantic Declaration' for economic cooperation: Britain and the United States have backed a new "Atlantic Declaration" or greater cooperation on pressing economic challenges in areas like clean energy, critical minerals and artificial intelligence. The joint declaration described the partnership covering the broad spectrum of the two countries' economic, technological, commercial and trade relations. They will strengthen their supply chains, develop technologies of the future and invest in one another's industries.

 

4. WHO, Global Fund announce commitment for enhanced collaboration: The WHO and the Global Fund to Fight AIDS, Tuberculosis and Malaria signed a new Strategic Framework. Reason: For Collaboration to build stronger and more resilient health systems and maximize collaboration and impact in support of country, regional and global responses to major communicable diseases. The new five-year framework builds on the previous agreement signed in 2018. It aligns with the 2023-2028 Global Fund Strategy and the WHO General Programme of Work.

 

5. Ritu Kalra named Harvard’s vice president for finance and CFO: Investment banking and financial management expert of Indian-American origin, Ritu Kalra has been appointed as the vice president for finance and chief financial officer at Harvard University. Kalra is currently serving as the assistant vice president of finance and treasury, as well as a special projects adviser within the university. As the vice president for finance and CFO, Kalra will oversee various important areas including research administration, strategic procurement, capital planning, and risk management. Leading a dedicated team of over 200 professionals, she will be responsible for managing multiple financial departments.

 

OTHER UPDATES:

 

SPORTS

 

1. Japanese Tokito Oda becomes Youngest Grand Slam Wheelchair Champion 2023: Japan's Tokito Oda (17) has defeated top-ranked Alfie Hewett from Britain 6-1, 6-4 to win the 2023 French Open wheelchair Men's singles title. With this win, he also become the sport's youngest Grand Slam champion. While Diede de Groot from Netherlands has secured the 2023 French Open – Wheelchair women's singles. Alfie Hewett and Gordon Reid (Britain) won the Men's Double title, and Yui Kamiji and Kgothatso Montjane won the Women's Double title.

 

2. Manchester City becomes most valuable football club in Europe: Manchester City has become the most valuable football club in Europe after replacing Real Madrid. City, who play Inter Milan in Champions League final in Istanbul, came out on top with a valuation of 4.073 billion euros ($4.39 billion) Real Madrid’s value was at 4.006 billion euros. Manchester City, who were taken over by the Abu Dhabi United Group in 2008, recorded revenue for last season of £613 million ($769.5m), the second-highest revenue figure in English club history after Manchester United’s annual revenues hit £627 million in 2019.

 

BANKING AND FINANCE

 

1. RBI notifies 4 key measures to strengthen 1,514 Urban Co-operative Banks: RBI has notified four key measures to strengthen 1,514 Urban Co-operative Banks (UCBs) in the country. UCBs can now open new branches up to 10% of the number of branches in the previous financial year without prior approval of RBI in their approved area of operation. UCBs have to get the policy approved by their board and comply with the Financially Sound and Well Managed Norms. The deadline to achieve PSL target of 60% also extended to March 31, 2024.

 

2. Federal Bank launches ‘I am Adyar, Adyar is me’ campaign: Federal Bank has launched ‘I am Adyar, Adyar is me’ campaign in Chennai. The campaign aims to honour and celebrate the local community of Adyar. The Adyar branch of Federal Bank has been converted into a living museum for the campaign. The I am Adyar, Adyar is me’ campaign has handpicked 40 compelling stories of individuals, which are showcased in an exclusive exhibition at the Adyar branch of Federal Bank. This art exhibition will run for two weeks between 10 a.m. and 6 p.m. The campaign is a first-of-its-kind micro-marketing initiative in the banking industry, which is aimed to showcase the soul of Adyar, including its people’s struggles and triumphs which make it special.

 

3. RBI permits FLDG between fintechs and banks, NBFCs: The Reserve Bank of India (RBI) has approved the First Loss Default Guarantee (FLDG) framework, allowing fintech to partner with banks and non-Banking financial companies (NBFCs). The central bank has allowed a 5% default loss cover for bank-fintech deals. The RBI had earlier specified that banks and NBFCs must abide by securitization norms before entering into any guarantee arrangement. Subject to certain guidelines, the RBI has decided to permit arrangements between regulated entities and lending service providers or between two regulated entities involving default loss guarantee. The limits are aimed at reining in the risk of large slippages in tie-ups between lenders and fintech.

Daily GK Update- 9th June, 2023

NATIONAL UPDATES:

 

1. DRDO successfully flight-tested ‘Agni Prime’ ballistic missile in Odisha: Defence Research and Development Organisation  has successfully flight-tested New Generation Ballistic Missile ‘Agni Prime’ was successfully from Dr APJ Abdul Kalam Island off the coast of Odisha on June 07, 2023. Aim: To validate the accuracy and reliability of the system During the flight test, all objectives were successfully demonstrated. This was the first pre-induction night launch conducted by the users after three successful developmental trials of the missile.

 

2. Haryana CM launched integrated Water Resources Action Plan-2023-25: Haryana CM Manohar Lal has launched an integrated Water Resources Action Plan-2023-25 under Amrit Jal Kranti at Chandigarh. A two-day water conservation seminar was organized in Panchkula in April, 2023, in which many departments of Haryana, including experts from India and abroad doing research on water conservation participated. Several initiatives like Mera Pani-Meri Virasat Yojana, have been taken towards water conservation which have drawn significant results.

 

3. NTPC Kanti launched Girl Empowerment Mission GEM 2023: NTPC Kanti has launched the Girl Empowerment Mission (GEM)-2023, a four-week residential workshop program for 40 underprivileged rural girls. This is the first time NTPC Kanti is organizing the GEM program. The participants will receive academic training and development skill sets such as soft skills, life skill training, sports, meditation, yoga, self-defence, computer application, communication skills, and other extra-curricular activities.

 

4. Tata Elxsi, ISRO partner to develop crew recovery models for Gaganyaan: Tata Elxsi has partnered with the Indian Space Research Organization (ISRO) for the upcoming Gaganyaan Mission. It has designed and developed the crew module recovery models (CMRM) for the recovery team training of the space mission. ISRO's Gaganyaan project envisions a demonstration of human spaceflight capability by launching the crew into a 400-kilometer orbit for a three-day mission and safely bringing them to Earth by landing in Indian sea waters.

 

5. Author Shantanu Gupta launched novel ‘Ajay to Yogi Adityanath’: Noted author Shantanu Gupta has launched his new graphic novel for young readers titled 'Ajay to Yogi Adityanath' based on the life journey of Yogi Adityanath. More than 5,000 children from over 51 schools across different districts of Uttar Pradesh participated in the launch ceremony. Prior to this, author Shantanu Gupta has written two bestseller titles on Yogi Adityanath- The Monk Who Transformed Uttar Pradesh and The Monk Who Became Chief Minister.

 

6. Government launches MAHIR: Government has launched Mission on Advanced and High-Impact Research (MAHIR) to quickly identify emerging technologies in the power sector and develop them indigenously for deployment within and outside the country. The Mission aims at facilitating indigenous research, development and demonstration of the latest and emerging technologies in the power sector. The Mission will be funded by pooling financial resources of the Ministry of Power, Ministry of New and Renewable Energy and various Central Public Sector Enterprises under the two Ministries. Any additional funding needed will be mobilized from the central government’s budgetary resources. Planned for an initial period of five years from 2023-24 to 2027-28, the Mission will follow the technology life cycle approach of Idea to Product.

 

7. Kerala topped in Food Safety Index: Union Minister for Health and Family Welfare Dr Mansukh Mandaviya has unveiled the fifth State Food Safety Index on World Food Safety Day. The food safety index evaluates the performance of states and union territories across six different aspects of food safety. Among the larger states, Kerala secured the top ranking, followed by Punjab and Tamil Nadu. Among the smaller states, Goa emerged as the leader, followed by Manipur and Sikkim. Additionally, Jammu and Kashmir, Delhi, and Chandigarh secured the first, second, and third ranks respectively among the union territories.

 

8. Mumbai most expensive city for expats in India: According to the Mercer’s Cost of Living survey 2023, Mumbai has ranked the most expensive city in India for expatriates. After Mumbai, cities like New Delhi and Bengaluru fall on second and third place in the most expensive list for expats list in India. The Mercer’s Cost of Living survey was conducted across 227 cities from across five continents. In Mercer’s 2023 Cost of Living survey, Mumbai has been positioned at 147 in the global ranking, New Delhi at 169, Chennai (184), Bengaluru (189), Hyderabad (202), Kolkata (211), and Pune (213). Globally, Hong Kong, Singapore and Zurich are the most expensive cities for international employees this year. The survey measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.

 

INTERNATIONAL UPDATES:

 

1. India, France, UAE begin maiden joint maritime exercise in the Gulf of Oman: The Ministry of Defence informed that first India-France-UAE Maritime Partnership Exercise has started in the Gulf of Oman on June 7, 2023. It involves the Indian Navy frigate, INS Tarkash, the French Navy ship Surcouf along with Rafale fighter jets, and UAE Navy maritime patrol aircraft. The two-day exercise involve a wide range of naval operations, including helicopter cross-deck landing operations, advanced air defense exercises, and boarding operations.

 

2. World Accreditation Day 2023: 9th June 2023: World Accreditation Day is an annual global observance held on June 9 to recognize and promote the role of accreditation across various sectors. Aim: To raise awareness about the value and benefits of accreditation in ensuring competence, reliability, and credibility in industries such as healthcare, laboratories, certification bodies, and conformity assessment services 2023 theme: Accreditation: Supporting the Future of Global Trade

 

3. India, Serbia agreed to set a target for bilateral trade one billion euros: President Droupadi Murmu and her Serbian counterpart Aleksandar Vucic have agreed to set a target for bilateral trade from the present 320 million euros to one billion euros by the end of the decade. Indian President is on a three-day State visit to Serbia from the 7th to the 9th of June. President of Serbia, Alecsandar Vucic also promised simplification of the issue of Visa to Indians and also hoped that direct flights between the two countries will begin soon.

 

4. 9 June – World Accreditation Day: World Accreditation Day is observed every year on 9 June.

This day aims to raise awareness about the value and benefits of accreditation in ensuring competence, reliability, and credibility in industries such as healthcare, laboratories, certification bodies, and conformity assessment services. Theme 2023 – Accreditation: Supporting the Future of Global Trade World Accreditation Day (WAD) was first celebrated on June 9, 2008. It was established by the International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC) as a way to raise awareness of the importance of accreditation and its role in ensuring the quality, safety, and reliability of products, services, and systems.

 

OTHER UPDATES:

 

SPORTS

 

1. 198 special athletes send to Special Olympics World Summer Games 2023: Union Sports Minister Anurag Singh Thakur send off the Indian contingent of 198 special athletes to the Special Olympics World Summer Games 2023 to be held in Berlin The Government spent 450 crore rupees in the current Olympic cycle on training, equipment, and facilities It will provide more assistance if needed to ensure India makes a new record in the Paris Olympics 2024. India has given the best-ever performance at the last Olympics with improvements in facilities. 

 

BANKING AND FINANCE

 

1. Federal Bank Launches ‘I am Adyar, Adyar is Me’ Campaign: The Federal Bank has launched a campaign named 'I am Adyar, Adyar is me' to celebrate people and their culture by transforming an entire bank branch into a museum of local stories. The campaign has handpicked 40 compelling stories of individuals, which are showcased in an exclusive exhibition at the Adyar branch of Federal Bank. This art exhibition will run for two weeks. The campaign is a first-of-its-kind micro-marketing initiative in the banking industry.

 

2. Bond issuances by banks to fall below Rs 90000 cr in FY24: Report: According to the rating agency ICRA, bond issuances by banks may fall below Rs 90,000 crore in FY24 due to easing liquidity conditions. Banks issued a record Rs 1.1 trillion bonds in FY23. Stronger foreign institutional investor (FII)/foreign portfolio investment (FPI) inflows, as seen recently, the derecognition of the Rs 2,000 note and an anticipated dividend by the Reserve Bank of India (RBI) could ease liquidity conditions in the interim. Tata Group is India's most valuable brand: According to the new rankings released by Brand Finance, the Tata Group with $26.38 billion has retained its position as the most valued brand in India. With a value growth of 10.3% in 2023 as compared to 2022. Notably, Tata Group is the only Indian brand to feature in the top 100 of the Brand Finance Global 500 2023. While Infosys retained the second spot in the rankings with a brand value of $13 billion, followed by LIC with a value of $9.7 billion.

 

3. RBI Monetary Policy 2023, Repo Rate unchanged: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) in its second bi-monthly monetary policy meeting of FY24 decided to leave the repo rate unchanged at 6.5%. The MPC voted 5 members to 1 to remain focused on withdrawal of accommodation. The RBI also retained FY24 GDP growth forecast at 6.5%, while expects FY24 CPI inflation to be at 5.1%. RBI governor Shaktikanta Das said that the net Foreign portfolio investment (FPI) inflows stand at USD 8.4 billion during the current financial year up to June 6 as against net outflows in the proceeding two years where USD 14.1 billion in 2021-22 and 5.9 billion in 2022-23. The rupee remained stable since January this year and India’s foreign exchange reserves stood at $595.1 billion as on June 2. RBI projects consumer price index inflation for FY24 at 5.1%. Real GDP growth projections for the financial year 2023-24 is projected at 6.5 percent with Q1 projections being 8 percent, Q2 projections being 6.5 percent, Q3 projections being 6 percent and Q4 projections being 5.7 percent. Monetary Policy Committee decides to keep repo rate unchanged at 6.5%, Standing Deposit Facility Rate remains at 6.25%. Marginal Standing Facility Rate and Bank Rate unchanged at 6.75% The next meeting of the MPC is scheduled during August 8-10, 2023.

 

4. Google Pay launches Aadhaar-based authentication for UPI activation: Google has launched Aadhaar-based authentication for UPI transactions that will allow users to set up their Unified Payments Interface (UPI) pin without a debit card. Support for UPI using Aadhaar will work via National Payments Corporation (NPCI). Users looking to onboard UPI via Aadhaar will need to ensure their phone numbers registered with UIDAI and their bank are the same, and their bank account is linked with Aadhaar. The move is supported by the National Payments Corporation of India (NPCI).

 

AWARDS AND HONOURS

 

1. Paterson Joseph wins RSL Christopher Bland Prize 2023: Author Paterson Joseph was conferred with the 2023 Royal Society of Literature Christopher Bland Prize for his debut novel 'The Secret Diaries of Charles Ignatius Sancho'. This book is a historical fiction novel that tells the story of Charles Ignatius Sancho, who was the first Black man to vote in England RSL Christopher Bland Prize: It is an annual award that is awarded to a debut writer for their work of fiction or non-fiction. Cash Prize: £10,000

Daily GK Update- 8th June, 2023

NATIONAL UPDATES:

 

1. Kerala topped the 5th State Food Safety Index among the large states: Union Minister for Health, Dr. Mansukh Mandaviya has unveiled the 5th State Food Safety Index on the occasion of World Food Safety Day 2023. Among the larger states, Kerala secured the top ranking, followed by Punjab and Tamil Nadu. Smaller states: Goa, Manipur and Sikkim UTs: J&K, Delhi and Chandigarh The index has evaluated the performance of states and UTs across six different aspects of food safety. He has also unveiled Rapid Food Testing Kit (RAFT) portal.

 

2. Government approves over Rs 89,000 crore revival package for BSNL: Union Cabinet has approved the third revival package for BSNL with a total outlay of 89,047 crore rupees, includes an allotment of 4G/5G spectrum through equity infusion. The authorised capital of BSNL will be increased from 1,50,000 crore rupees to 2,10,000 crore rupees. BSNL will emerge as a stable telecom service provider focused on providing connectivity to the remotest parts of India. First revival package approved in 2019, amounting to 69,000 crore rupees.

 

3. Cabinet approves continuation of Exploration of Coal and Lignite Scheme: The union cabinet has approved the continuation of the Central Sector Scheme of “Exploration of Coal and Lignite scheme”. It has been approved with an estimated expenditure of Rs. 2980 crore from 2021-22 to 2025-26 co-terminus with the 15th Finance Commission cycle. Two broad stages conducted under this scheme: (i) Promotional (Regional) Exploration (Outlay: Rs.1650 crore), (ii) Detailed Exploration in Non-Coal India Limited blocks (Outlay: Rs.1330 crore)

 

4. Centre agrees to sanction Rs 12,911 crore for Polavaram Project: The Andhra Pradesh government has informed that the central government has agreed to sanction Rs 12,911 crore to Andhra Pradesh for completing the first phase of Polavaram Project. The sanctioned amount of Rs 12,911 crore also includes Rs 2,000 crore for the construction of the diaphragm wall, which was washed away due to flood. Polavaram Project is an under construction multi-purpose irrigation project on the Godavari River in Andhra Pradesh.

 

5. UP govt launches Nand Baba Milk Mission scheme: Uttar Pradesh government has launched the Nand Baba Milk Mission scheme at a cost of Rs 1,000 crore. This scheme provides milk producers the facility of selling their milk at a reasonable price in villages through dairy co-operative societies. Under this mission, it is proposed to form a Dairy farmer producer organization (Dairy FPO) in order to facilitate the sale of milk in producers’ villages itself. UP is a leading state in the field of milk development and milk production.

 

6. Madhya Pradesh launches ‘CM Learn and Earn’ scheme: Madhya Pradesh Chief Minister has launched Learn and Earn scheme to teach employable skills to the youth. In the scheme, 703 work areas have been identified for training. At least one lakh youth will be provided training under the scheme The most important aspect of this learn-and-earn scheme is that along with learning skills, the youth will also be given an allowance of Rs 8,000 to 10,000. As per the schedule, the registration of establishments providing training to youth will start from today and the registration of youth willing to learn work will start from 15th June.

 

7. Nirmala Laxman appointed as the new chairman of The Hindu Group: Nirmala Laxman has been appointed as the Chairperson of the Board of Directors of The Hindu Group Publishing Private Limited (THGPPL) for a period of 3 years. He succeeds Malini Parthasarathy, who stepped down after completing her three-year term at the board meeting on June 5, 2023. Nirmala Laxman is the founder and curator of Lit for Life, a literary festival organized by The Hindu. She also previously served as the chairman of Kasturi Media Limited (KML), the publisher of The Hindu Tamil Thisai.

 

INTERNATIONAL UPDATES:

 

1. Mumbai most expensive city for expats in India: According to the Mercer's Cost of Living survey 2023, Mumbai has ranked the most expensive city in India for expatriates. After Mumbai, cities like New Delhi and Bengaluru fall on the second and third place in the most expensive list for expats list in India. In global ranking, Mumbai has been positioned at 147, New Delhi (169), Chennai (184), Bengaluru (189), and Pune (213). Hong Kong and Singapore are the most expensive cities for international employees this year.

 

2. World Ocean Day 2023: 8th June: World Oceans Day is observed every year on 8 June to create awareness about the significance of oceans, and importance of preserving and conserving oceanic resources. 2023 theme: Planet Ocean: Tides are Changing The concept was originally proposed by Canada’s International Centre for Ocean Development and the Ocean Institute of Canada at the Earth Summit in 1992 in Rio de Janeiro, Brazil. This day was officially recognised by the United Nations in 2008.

 

3. World Brain Tumor Day 2023: 8th June: World Brain Tumor Day is celebrated annually on June 8 for creating awareness about brain tumors Theme 2023: Protect yourself – keep away from stress Brain tumor is characterised by abnormal growth of cells in the brain, it can be grown in any part of the brain or skull including the underside of the brain, brainstem and nasal cavity among others Researchers have identified more than 120 types of brain tumors which are based on the brain tissue that it impacts

 

4. 2.3 billion people globally use polluting fuel to cook: Report: According to a report, up to 2.3 billion people around the world are still using polluting fuels to cook and 675 million don't have electricity. Report by: IEA, International Renewable Energy Agency, U.N. Statistics Division, World Bank, and WHO The report also highlighted that 1.9 billion won't have clean cooking opportunities by 2030. The global access to electricity increased from 84% in 2010 to 91% (2021), but the pace of growth slowed in 2019-2021

5. Microsoft, AirJaldi Networks collaborate to provide internet access: Microsoft and AirJaldi network signed a three-year MoU to provide internet access for underserved communities in 12 states. Aim: To advance access to high-speed internet and meaningful connectivity, build solutions for broadband adoption and digital transformation The program will expand AirJaldi Networks into three new states namely, Telangana, Chhattisgarh, and Odisha, with an increase in the number of network locations from 40 to 62 in 12 states.

 

6. GalaxEye to launch world’s 1st multi-sensorearth observation satellite: An IIT-Madras-incubated space-tech startup, GalaxEye, is building the world’s first multi-sensor earth observation satellite It will launch its first satellite ‘Drishti Mission’ in 2024. It is being build with the help of a visible spectrum camera providing synchronised imaging that can take multiple images at the same time. GalaxEye is working on deploying a satellite constellation to provide the comprehensive imagery dataset from space.

 

7. Israel tests first autonomous flying taxi: Israel has begun conducting initial tests of autonomous drones that could one day serve as public transportation. The drones are part of Israel’s National Drone Initiative to ease traffic congestion. Israel hopes autonomous Electric Vertical Takeoff and Landing (eVTOL) aircraft will help to ease its worsening traffic problems. The aircraft being tested now will be able to bypass traffic jams and ease congestion by removing cars and trucks from the roads, in conjunction with air traffic management systems. The initiative is a partnership between govt entities and the country’s Civil Aviation Authority.

 

8. Five new countries elected as non-permanent members of the UN Security Council: Algeria, Guyana, the Republic of Korea, Sierra Leone and Slovenia were elected non-permanent members of the UN Security Council for a two-year term. The newly elected members will take up their new responsibilities on 1 January 2024 and serve till 31 December 2025. Slovenia defeated Belarus by a vote of 153 to 38, while Algeria, Guyana, Sierra Leone and the Republic of Korea were elected unopposed. These new members will replace Albania, Brazil, Gabon, Ghana and the United Arab Emirates at present when their two-year term ends on 31 December 2023.

 

9. Mazagon Dock signs deal with Germany to build diesel submarines: German shipbuilder ThyssenKrupp Marine Systems (TKMS) has signed an agreement with India’s biggest warship yard, Mazagon Dock (MDL), to cooperate in building six advanced submarines for the Indian Navy. These submarines will be powered by a new technology called air-independent propulsion (AIP). They will be built under a Rs 45,000-crore programme called Project 75-I. The Project 75-I is being pursued under the so-called “strategic partner” model of equipment acquisition. This requires the Ministry of defence (MoD) to identify Indian firms that have the capability and capacity to build and supply a particular weapons platform – such as a submarine, warship, fighter aircraft or tank.

 

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. RBI keeps repo rate unchanged at 6.5%: The RBI's Monetary Policy Committee in its second bi-monthly monetary policy meeting of FY24 has kept the repo rate unchanged at 6.5%. Aim: Focus remains on withdrawal of accommodation The RBI also retained FY24 GDP growth forecast at 6.5%, while expects FY24 CPI inflation to be at 5.1% (from 5.2%).

Other rates:

·       Standing Deposit Facility Rate: 6.25%

·       Marginal Standing Facility Rate: 6.75%

·       Bank Rate: 6.75%

·       Foreign exchange reserves(as on June 2): $595.1 billion

 

2. Bangladesh receives USD 858 Million World Bank Financing: The World Bank and Bangladesh signed two financing agreements totaling USD 858 million to enhance climate-resilient agricultural growth, and improve road safety The World Bank will provide USD 500 million to Bangladesh for Program on Agricultural and Rural Transformation for Nutrition, Entrepreneurship, and Resilience. USD 358 million will be provided to Bangladesh for Road Safety Project, a first dedicated road safety project in South Asia supported by the World Bank

 

3. SIDBI signs pact with HDFC Bank to offer financial solutions to MSMEs: Small Industries Development Bank of India (SIDBI) has signed an MoU with HDFC Bank for providing financial solutions to MSMEs. Under the MoU, SIDBI and HDFC Bank will work together to provide complete financial product and services to the customers under MSMEs. Aim: To facilitate providing complete financial solutions to MSMEs in a seamless manner This arrangement will enable MSMEs to avail financial products and services of both the banks.

 

4. Kotak Bank launches Réserve premium account: A division of Kotak Mahindra Bank Limited, Kotak Private Banking has unveiled Kotak Réserve, a Savings Programme curated exclusively for UHNIs (Ultra High Net Worth Individuals) and HNIs (High Net Worth Individuals). This by-invite programme extends beyond banking services, offering a range of exclusive amenities to provide clients with an unparalleled luxury banking experience. The Kotak Réserve Savings Programme aims to deliver a premium banking experience by offering exclusive lifestyle benefits in areas such as travel, health and wellness, and entertainment. Key offerings of Kotak Réserve include an Epicure Privileged Membership by Taj, Lafayette Luxury Concierge services, BookMyShow vouchers, preferential pricing on services, and the Kotak White Reserve credit card. These privileges encompass a spectrum of services such as luxury stays, dining experiences, spa treatments, customized lifestyle solutions, access to exclusive Michelin-starred restaurants, and more. CEO of Private Banking at Kotak Mahindra Bank Ltd. – Oisharya Das

 

5. HDFC Bank introduces Millennia Credit Card: HDFC Bank has introduced a new credit card — Millennia — offering cashback. The card comes with contactless technology allowing customers to ‘tap and pay’ via POS machine. The HDFC Millennia Credit card offers cashback and reward points on Amazon, Flipkart, and other e-commerce platforms. In addition, the card also offers 1 percent cashback on offline purchases, smart EMI, and lounge access for free, among others. Eligibility to obtain HDFC Millennia Credit card

 

AWARDS AND HONOURS

 

1. Jagdish S Bakan bagged Michel Batisse award 2023: An IFS officer, Jagdish S Bakan has won the prestigious UNESCO Michel Batisse Award 2023 for biosphere reserve management. The 2017 batch officer of the Indian Forest Service is currently the director of the Gulf of Mannar Biosphere Reserve. The USD 12,000 award is given in memory of Dr. Michel Batisse for outstanding achievement in the management of biosphere reserves in line with the recommendations of the Seville Strategy. He will receive the award from UNESCO in Paris on June 14, 2023.

 

OBITUARIES

 

1. Award-winning Doordarshan news anchor Gitanjali Aiyar passes away: Gitanjali Aiyar, one of India's first English female news presenters on national broadcaster Doordarshan, passed away. Aiyar joined Doordarshan in 1971 and was awarded the best anchor four times. She also won the Indira Gandhi Priyadarshini Award for Outstanding Women in 1989. She was a diploma holder from the National School of Drama (NSD). She had also been a popular face in several print advertisements and even acted in Sridhar Kshirsagar's TV drama "Khandaan".