Daily GK Update- 13th June, 2023

NATIONAL UPDATES:

 

1. Industrial Output of India rise to 4.2% in April 2023: According to the Ministry of Statistics and Programme Implementation data, the index of industrial production (IIP) in India has increased to 4.2% on an annual basis in April 2023 from 1.1% in March 2023. Manufacturing sector output rose to 4.9% in April 2023 against 5.6% and Power generation declined by 1.1% in April 2023 against a growth of 11.8% Mining output rose by 5.1% during the month under review compared to a growth of 8.4% in the year-ago period

 

2. Centre releases the third installment of tax devolution to states: The Union Government has released the third instalment of tax devolution to State governments amounting to 1,18,280 crore rupees, as against the normal monthly devolution of 59,140 crores. One advance instalment in addition to the regular instalment due in June is being released to States. Reason: To speed up capital spending and finance their development and welfare-related expenditure UP received the highest share of Rs 21,218 crore and Goa the least at Rs 457 crore

 

3. Department of Ex-Servicemen Welfare signs an MoU with private sector: Directorate General Resettlement (DGR) under the Department of Ex-Servicemen Welfare signed an MoU with the M/s Kotak Mahindra Life Insurance Company Limited on 12 June 2023 in New Delhi. Aim: To bring the corporate companies and Ex-Servicemen on a common platform to generate employment opportunities for the esteemed Ex-Servicemen of the Defence Services This partnership would bring in more visibility of our Ex-servicemen to the industry and corporates.

 

4. Centre constitutes peace committee in Manipur under governor: The central government has formed a Peace Committee in Manipur to facilitate peace among ethnic groups in the state. The committee is chaired by the governor of Manipur and includes members from political parties, civil servants, educationists, artists, and social workers. The committee’s mandate is to strengthen social cohesiveness between various ethnic groups in the state.

 

5. IIT-Madras generates hydrogen from seawater using solar energy: Researchers from the Department of Physics at IIT-Madras have developed critical components for a highly efficient, cost-effective way to electrolyze seawater to generate hydrogen. The results were published in the journal ACS Applied Energy Materials. State-of-the-art alkaline water electrolyzer technology is energy-intensive, requires an expensive oxide-polymer separator, and uses fresh water for electrolysis. We found our separator is highly resistant to seawater degradation said Sana Fathima, co-authors of the paper. The IIT-Madras team led by Dr. Ramaprabhu Sundara has addressed each of these challenges by developing simple, scalable and cost-effective alternatives that are highly efficient in splitting seawater and generating hydrogen

 

 

INTERNATIONAL UPDATES:

 

1. Indo-Maldives joint military exercise “Ekuverin” commenced in Uttarakhand: The 12th edition of a joint military exercise between the Indian Army & the Maldives National Defence Force, 'Ex Ekuverin' is being commenced at Chaubatia, Uttarakhand from 11 to 24 June 2023. Ekuverin meaning ‘Friends’, is a bilateral annual exercise conducted alternatively in India and Maldives. Aim: To enhance the interoperability in Counter Insurgency/ Counter Terrorism Operations under the UN mandate The 11th edition of the exercise was held in Maldives in 2021.

 

2. 'The Snow Forest', authored by Elizabeth Gilbert will be released: The book titled, 'The Snow Forest', authored by Elizabeth Gilbert will be released in February 2024. This book is published by Bloomsbury. The novel, “The Snow Forest”, is inspired by the true story of the family of religious hermits discovered in Siberia in 1978 who had escaped early 20th century Russia for a life in one of the most inhospitable and uninhabited places on earth. He has also authored 'Eat, Pray, Love'.

 

3. International Albinism Awareness Day 2023: 13 June: International Albinism Awareness Day is observed annually on June 13 to ensure the inclusion of the voices of persons with albinism in all sectors of life. 2023 theme: Inclusion is Strength Albinism is a genetic condition that can lead to the absence of melanin production in the human body. In 2013, the United Nations Human Rights Commission passed a resolution called Attacks and discrimination against persons with albinism.

 

4. UAE emerges as 4th largest investor in India during FY23: The United Arab Emirates (UAE) has emerged as the fourth largest investor in India during 2022-23, according to government data. The United Arab Emirates (UAE) was signed a comprehensive free trade agreement with India in May last year. In the last fiscal, foreign direct investment (FDI) from the UAE to India jumped over three-fold to USD 3.35 billion from USD 1.03 billion in 2021-22, the data of the Department for Promotion of Industry and Internal Trade (DPIIT) showed. Singapore was the largest investor in India with USD 17.2 billion investment in FY23, followed by Mauritius (USD 6.1 billion) and the US (USD 6 billion). UAE’s investments in India are mainly in sectors like services, sea transport, power, and construction activities. One of the crucial factors for the increase in foreign direct investment (FDI) from UAE is the signing of the Comprehensive Economic Partnership Agreement (CEPA) between India and UAE on February 18, 2022 (effective from May 1, 2022).

 

5. Pieter Elbers appointed as Chair-elect of IATA’s Board of Governors: Pieter Elbers has been elected as the chair-elect of the International Air Transport Association (IATA) Board of Governors. He will succeed Yvonne Manzi Makolo, the CEO of Rwandair, with effect from June 2024. As the chair-elect of the IATA BoG, Elbers will play a pivotal role in further shaping the global aviation landscape, advocating for the industry’s interests, and driving innovation and sustainability initiatives.

 

OTHER UPDATES:

 

SPORTS

 

1. World Cup Squash Championship begins in Chennai: The World Cup Squash championship is being organized in Chennai, Tamil Nadu on June 13, 2023, after a gap of 12 years. It was formally inaugurated by the State Minister for Youth Affairs and Sports Udhayanidhi Stalin. On the first day, India will play against Hongkong and China in the pool B matches and in another match Japan will play against South Africa. Each match will be played to the best of five games, each to seven points with a total of 11 points in general.

 

2. Uruguay beat Italy 1-0 to win maiden FIFA U-20 World Cup: Uruguay beat Italy 1-0 to win its first FIFA U-20 World Cup 2023. The Celeste's victory ends a streak of four consecutive wins of European teams in the tournament. Luciano Rodríguez scored the winning goal in the 86th minute with a header from close range, giving Uruguay a much-deserved victory after an entire match of dominance against Italy. Earlier, debutant Israel beat South Korea 3-1 to secure third place in the same stadium in La Plata.

 

3. Novak Djokovic won the French Open 2023 Men’s Singles Final: Serbian Tennis Player, Novak Djokovic has won the French Open 2023 men’s singles final, clinching his 23rd Grand Slam title.

Djokovic beat Norwegian Casper Ruud 7-6 (1), 6-3, 7-5 in the final at Roland Garros. Djokovic also broke Nadal’s record as the oldest French Open singles champion. He became the first man to win all four tennis majors at least three times, joining three women who did so (Serena Williams, Steffi Graf and Margaret Court). Novak Djokovic has become the first man to reach the 23rd Grand Slam title.

 

4. Nick Taylor becomes first Canadian Champion since 1954: Nick Taylor has become the first Canadian in 69 years to win his national Open, holing a 72-foot eagle putt on the fourth playoff hole to beat Tommy Fleetwood in the RBC Canadian Open. The last player from Canada to win the Canadian Open was Pat Fletcher in 1954 at Point Grey in Vancouver. Fletcher was born in England; Carl Keffer had been the only Canadian-born champion, winning in 1909 and 1914.

 

BANKING AND FINANCE

 

1. Indian Overseas Bank launched 'My Account My Name' feature: In a first-of-its-kind move in the banking sector, Indian Overseas Bank has launched a Unique feature named 'My Account My Name' for IOB SB HNI and IOB SB MAX account holders. This feature allows customers to choose any name as their account number. The account name can only be a numeric, alphabetic, or alphanumeric combination of seven characters. For example, a customer's account number can be 'Jackson' or '1234567' or 'Jack123.

 

2. RBI penalizes Bihar State Co-op Bank Rs 60.20 lakh: RBI has imposed a penalty of Rs 60.20 lakh on The Bihar State Co-operative Bank Limited, Patna for a slew of shortcomings and violations. A statutory inspection of the Patna-based bank by Nabard after FY20 revealed that it failed to put in robust software for identifying and reporting suspicious transactions and submit statutory returns within prescribed timelines. The RBI also imposed a monetary penalty of Rs 6 lakh on Jowai Cooperative Urban Bank Limited, Meghalaya.

 

3. MRF becomes first stock in India to hit Rs 1 lakh per share mark: MRF became the first Indian stock to touch the rupee one lakh per share mark on June 13, 2023. The stock opened at ₹99,500 on BSE against the previous close of ₹98,939.70 and touched an all-time high of ₹1,00,300 in morning trade. The stock has witnessed strong gains in the last one year. It is up 45% in the last one year against a 19% gain in the benchmark Sensex. MRF shares hit their 52-week low of ₹65,900.05 on BSE on June 17, 2022.

 

4. Equitas Holdings surrenders NBFC licence to RBI: The Reserve Bank of India has informed Equitas Holdings Ltd has surrendered its NBFC licence and accordingly, its registration has been cancelled.  The RBI, in the exercise of powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934, has therefore cancelled its CoR (certificate of registration). Reason: The company does not hold public funds Therefore, it may have voluntarily surrendered its certificate of registration.

 

5. SBI to raise Rs 50,000 crore in FY24: The central board of State Bank of India (SBI) has approved raising of funds aggregating ₹50,000 crore via issuance of debt instruments, including capital instruments in FY24. The board’s approval is for raising funds in the Indian rupee and/or any other convertible currency by issue of debt instruments, including but not limited to Long Term Bonds, Basel III-compliant Additional Tier 1 Bonds, 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. SBI had raised funds aggregating about ₹38,850 crore through issuance of infrastructure bonds, Tier-2 bonds and AT-1 bonds in FY23.

 

OBITUARIES

 

1. Former Italian PM Silvio Berlusconi passes away: Former Italian prime minister and billionaire, Silvio Berlusconi has passed away at 86 in Milan, Italy. Berlusconi founded Forza Italia, a center-right party, in 1994 with the aim of defeating the 'communists'. His party introduced a populist style of politics in Italy, propelling him to the upper ranks of the political establishment. He was also known as 'Il Cavaliere' (The Knight) and remained a flamboyant and influential figure in Italian politics.

 

2. Bollywood Actor Mangal Dhillon passes away: A renowned Bollywood actor, Mangal Dhillon passed away. He was known for his remarkable acting prowess and memorable performances in shows like ‘Junoon’ and ‘Buniyaad’. Dhillon was seen alongside Rekha in the film Khoon Bhari Maang, and his repertoire includes notable movies such as Dayavan, Zakhmi Aurat, Vishwatma, Pyaar Ka Devta, Amba, Toofan Singh, Dalaal, among others. In addition to his achievements in films, Dhillon left an indelible impact on the small screen, featuring in popular television shows like Katha Sagar, Kismat, Ghutan, Rishta and Param Vir Chakra, among others.

Daily GK Update- 12th June, 2023

NATIONAL UPDATES:

 

1. Amit Agrawal appointed as CEO of UIDAI: Senior IAS officer, Amit Agrawal has been appointed as the new CEO of Unique Identification Authority of India (UIDAI). While Subodh Kumar Singh has been appointed as director general of the National Testing Agency. Both Agrawal and Singh are Indian Administrative Service officers of the Chhattisgarh cadre. Rashmi Chowdhary, additional secretary in the Department of Personnel and Training, has been appointed as secretary in the Central Information Commission.

 

2. Nitin Agarwal appointed as new DG of BSF: Nitin Agarwal, an IPS officer of the 1989 Kerala cadre, has been appointed as the new director general of the Border Security Force (BSF). This appointment comes after a vacancy of over five months in the position. Presently, he is serving as the Additional DG of operations at the headquarters of the CRPF in Delhi. The additional charge of the BSF has been held by Sujoy Lal Thaosen, the Director General of the Central Reserve Police Force (CRPF).

 

3. IIT Mandi researchers develop smart biodegradable microgels: Researchers at the IIT Mandi have developed smart biodegradable microgels to make agricultural practices more sustainable and minimize the adverse impact caused by the use of insecticides and agrochemicals The research has been published in the "Carbohydrate Polymers" journal. Modern agriculture relies heavily on the application of various agrochemicals such as insecticides, herbicides, and fertilizers on crops to meet the demand for food for the growing population.

 

4. Unemployment rate falls to 7.7% in May on decline in labour participate: According to data released by the private economic think tank CMIE, the unemployment rate in India fell to 7.7% in May due to a decline in labor participation at 441.9 million. The unemployment rate in India among people aged 15 years and above fell to 7.7% in May 2023, from 8.5% in the previous month. The urban labour market recorded a fall in the number of employed as well as unemployed people. The rural labour force reduced to 299.4 million in May.

 

5. PM Modi inaugurated first-ever National Training Conclave in New Delhi: Prime Minister Narendra Modi has inaugurated the first-ever National Training Conclave at the International Exhibition and Convention Centre at Pragati Maidan in New Delhi. It was hosted by Capacity Building Commission with the objective to foster collaboration among civil services training institutes and strengthen the training infrastructure for civil servants across the country. More than 1500 representatives from training institutes, including Central Training Institutes, State Administrative Training Institutes, Regional and Zonal Training Institutes, and Research institutes participated in the conclave. The Conclave is aimed to enhance capacity building in civil services and is organized under the auspices of the National Programme for Civil Services Capacity Building (NPCSCB) – ‘Mission Karmayogi.’ During the conclave, eight-panel discussions will take place, each focusing on key concerns pertinent to civil services training institutes.

6. NHDC to construct 525 MW pumped storage power project in MP: Narmada Hydroelectric Development Corporation Ltd (NHDC Ltd.) will construct a 525 MW pumped storage project near the Indira Sagar Dam in Khandwa, Madhya Pradesh. The project will use the existing reservoirs of Indira Sagar and Omkareshwar, which are part of the Indira Sagar Project.

The project is being executed to meet the increasing peak-hour demand for energy in Madhya Pradesh. The pumped storage project will generate renewable energy that can be used to meet the state’s energy needs during peak energy hours. The project is expected to generate 1.2 billion units of energy during peak hours and is estimated to cost Rs 4,200 crore (approximately $550 million). NHDC Limited has been allotted this project by the Department of New & Renewable Energy, Government of Madhya Pradesh.

 

7. Sanjay Swarup appoints as CMD of CONCOR: The Public Enterprises Selection Board (PESB) has picked Sanjay Swarup for the role of Chairman and Managing Director of Container Corporation of India Ltd (CONCOR). Swarup is currently the Director (International Marketing and Operations) at India’s biggest rail hauler of containers. Swarup was selected from a short list of eight candidates, six of whom were from CONCOR. Swarup is an Indian Railways Traffic Service (IRTS) officer from the 1990 batch. In a career spanning three decades, Swarup has held assignments in the public sector and government. CONCOR is a state-owned enterprise that provides container transportation and logistics services in India.

 

INTERNATIONAL UPDATES:

 

1. World Day Against Child Labour 2023: 12th June: The World Day against Child Labour is observed annually on June 12 to support the expanding anti-child labour movement. ILO declared June 12 to be the World Day Against Child Labour in 2002 to raise awareness of this problem. "Week of Action against Child Labour" is the theme for the 2023 World Day Against Child Labour. The ILO intends to start a week-long campaign to raise public awareness of the injustice of child labour and inspire people to take action.

 

2. Israel to release world’s first digital government bond: The Tel Aviv Stock Exchange (TASE) and Israel’s Finance Ministry successfully completed the proof-of-concept phase for a digital Israeli Bond traded on a dedicated blockchain platform. The development positions Israel to release the world’s first digital government bond. The blockchain used for this event was EVM-compatible, enabling potential integration with other blockchain solutions in the future. The Ministry of Finance issued and minted the first dummy digital governmental bond on a blockchain-based platform as an ERC-1155 Security Token using a dedicated decentralized app (dApp) developed leveraging web3 solutions specifically for this proof of concept. The blockchain used for this event was EVM-compatible, enabling potential integration with other blockchain solutions in the future.

 

3. 12 June – World Day Against Child Labour: The World Day against Child Labour has been observed annually on 12 June since 2002. This significant day was established by the International Labour Organization (ILO), and all United Nations member countries have since been commemorating it. Theme 2023 – Week of Action against Child Labour This year, we will mark the 21st World Day Against Child Labour. The origin of this day can be traced back to 2000. According to the United Nations, approximately 160 million children worldwide are involved in child labour, which represents 1 in 10 children. From 2000 to 2020, child labour decreased by 85.5 million, dropping from 16 percent to 9.6 percent. Only 26.4 percent of children worldwide receive social protection cash benefits. Globally, only 1.1 percent of GDP is spent on social protection for children and only 0.4 percent of GDP for children in Africa.

 

 

OTHER UPDATES:

 

SPORTS

 

1. Novak Djokovic wins his 23 grand slam men’s singles title: Serbian Tennis player, Novak Djokovic has defeated Casper Ruud in the men’s singles final to win the 2023 French Open title.

He has also created history by becoming the first man to reach the coveted 23 grand slam title mark. Other Winners:

·       Women's singles: Iga Świątek (Poland)

·       Men's doubles: Ivan Dodig (Croatia) and Austin Krajicek (US)

·       Mixed doubles: Miyu Kato (Japan) and Tim Pütz (Germany)

·       Women's doubles: Hsieh Su-wei (Chinese Taipei) / Wang Xinyu (China)

 

2. India beat Argentina to win FIH Pro League 2023: India defeated Argentina 2-1 in its final FIH Pro League 2022-23 match in Eindhoven, the Netherlands. Akashdeep Singh and Sukhjeet Singh scored goals for India while Lucas Toscani netted the only goal for Argentina India consolidated their position atop the FIH Pro League standings with 30 points from 16 matches. Argentina is fifth with 13 points from 14 matches The Indian men’s hockey team finished in fourth place in their debut FIH Pro League campaign back in 2020-21

 

3. French Open: Iga Swiatek won Women’s Singles title: In French Open tennis, World No 1 and top seed Iga Swiatek of Poland has won the Women’s Singles crown. She defended her title against unseeded Czech Karolina Muchova 6-2, 5-7, 6-4. This is her third French title in just 5 years. Poland’s Iga Swiatek became the first woman since 2007 to win back-to-back French Open titles. The 22-year-old Swiatek is just the third woman in the Open era to win each of her first four Grand Slam finals. Monica Seles and Naomi Osaka are the only other players to achieve this feat. Swiatek, the world number 1, is also the youngest woman to claim back-to-back French Open titles since Monica Seles in the early 1990s.

 

4. Australia won ICC World Test Championship 2023: Australia has won the World Test Championship after a crushing win over India in the final at The Oval, London. This was India’s second consecutive defeat in a WTC final; they had lost to New Zealand in the title clash of the inaugural edition in 2021. This was India’s fourth defeat in the ICC finals after their Champions Trophy victory in England in 2013. India lost the final of the T20 World Cup to Sri Lanka in 2014, then lost the Champions Trophy final to Pakistan in 2017 before a defeat to New Zealand in the WTC final in 2021. Australia also became the first men’s team in world cricket to win an International Cricket Council (ICC) world title in all three formats. Australia achieved the feat when they decimated India in the final of the World Test Championship 2021-23 at The Oval to become the new world champions of the longest format of the game. Australia won the first-ever 50-over World Cup in 1987 and went on to win 4 more titles, becoming the most successful side in 50-over World Cups. Australia also won the ICC Champions Trophy in 2006, beating the West Indies in the final. Player of the match – Travis Head

 

5. India won Women’s Hockey Junior Asia Cup 2023: The Indian hockey team emerged champions of the Women’s Junior Asia Cup in Japan’s Kakamigahara by defeating South Korea 2-1 in a captivating final. Annu (22nd) and Neelam (41st) scored for India and Park Seo-yeon (25th) for Korea. This is India’s first title while South Korea (4) and China (3) share the honours from the previous editions. Acknowledging the team’s unbeaten streak in six matches — it also helped them qualify for the 2023 Women’s Junior World Cup in Chile — Hockey India (HI) declared a cash prize of Rs 2 lakh per player and Rs.1 lakh each for the support staff.

 

BANKING AND FINANCE

 

1. India, ADB sign $130 million loan agreement to boost horticulture in HP: The central government and the ADB signed a loan agreement worth $130 million to boost agricultural productivity and horticulture agribusinesses The deal aims to increase farmers‘ income and improve access to irrigation in Himachal Pradesh The project interventions will help increase the income and resilience to the effects of climate change of at least 15,000 farm households across seven districts in the state: Bilaspur, Hamirpur, Kangra, Mandi, Sirmour, Solan, and Una

 

2. Axis Bank’s lake cleanliness drive in Hyderabad enters Asia Book of Rec: Axis Bank in partnership with NGO Dhruvansh has organised a lake cleaning drive, ‘Cleanathon’, in Hyderabad. This initiative was recorded in the Asia Book of Record as it was the largest cleaning drive conducted across the country. In Hyderabad, over 100 volunteers participated in cleaning Mushki Cheruvu and Neknampur Lake to restore these water bodies. The campaign aligned with the United Nations’ theme for World Environment Day 2023, ‘Beat Plastic Pollution’.

 

3. Go Digit gets IRDAI nod to commence life insurance operations: Go Digit has received the Insurance Regulatory and Development Authority of India's approval to commence life insurance operations. In 2022, HDFC Bank and Axis Bank announced that they will both acquire up to 9.94% stake each in Go Digit-Life Insurance through the investment of ₹50-70 crore, possibly in tranches, subject to executive of certain terms and agreements. Digit Insurance already has general insurance operations through Go Digit General Insurance.

 

4. India tops world ranking in digital payments: India with 89.5 million digital transactions in the year 2022 has topped the list of five countries in digital payments, according to data from MyGovIndia. India accounted for 46% of the global real-time payments in 2022, more than the other four leading countries combined. Brazil is second on the list with 29.2 million transactions, followed by China with 17.6 million transactions. On number 4 is Thailand with 16.5 million digital transactions followed by South Korea with 8 million worth of transactions.

 

AWARDS AND HONOURS

 

1. Govt announces second edition of Antarashtriya Yoga Diwas Media Samman: Ministry of Information and Broadcasting has announced the second edition of Antarashtriya Yoga Diwas Media Samman. Under the Antarashtriya Yoga Diwas Media Samman 2023, thirty-three Sammans will be given out under three categories, Print, Television, and Radio in twenty-two Indian languages and English. Eleven Sammans in 22 Indian languages and English will be conferred under the category Best Media Coverage in Yoga in Newspaper. Eleven Sammans in 22 Indian languages and English will be conferred under the category Best Media Coverage in Yoga in Electronic Media (TV). Eleven Sammans in 22 Indian languages and English will be conferred under the category Best Media Coverage in Yoga in Electronic Media (Radio).

 

2. 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 The RSL Christopher Bland Prize is an annual award that is given to a debut writer for their work of fiction or non-fiction, who is first published at the age of 50 or over. The winner receives a prize money of £10,000. This is the fifth year of the award. ‘The Secret Diaries of Charles Ignatius Sancho’ is a historical fiction novel that tells the lesser-known story of Charles Ignatius Sancho, who was the first Black man to vote in England. The story was initially written and performed by Joseph as a one-man show in 2018.

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.