Daily GK Update- 16th June, 2023

NATIONAL UPDATES:

 

1. Kamal Kishore Chatiwal takes over as IGL Managing Director: Kamal Kishore Chatiwal has assumed charge as the new managing director of Indraprastha Gas Ltd (IGL), the largest CNG distribution company. He has replaced Sanjay Kumar, who has taken over as Director (Marketing) in GAIL (India) Ltd. Prior to this role, he was working as an executive director and head of zonal marketing of GAIL in Jaipur, Rajasthan. IGL is a joint venture of GAIL and Bharat Petroleum Corporation Ltd (BPCL) with the Delhi government holding 5% stake.

 

2. IIT Madras team develops IoT-based method for mobile pollution monitoring: IIT Madras researchers have recently developed a low-cost mobile air pollution monitoring framework. The pollution sensors mounted on public vehicles can dynamically monitor the air quality of an extended area at high spatial and temporal resolution. Traditionally, ambient air quality is measured in monitoring stations and reported by the Air Quality Index (AQI). Since these stations are at fixed locations, they only measure the air quality of a small geographic area.

 

3. MoD signs a contract to strengthen Indian Army communication system: Ministry of Defence (MoD) has inked a contract with ICOMM Tele Limited, Hyderabad for the procurement of 1,035 numbers of 5/7.5 Ton Radio Relay Communication equipment containers. The value of the contract under Buy (Indian) Category is nearly Rs 500 crore. The delivery of the containers is scheduled to commence from the current Financial Year 2023-24. Aim: To boost the indigenous manufacturing of defence equipment and incentivize the private sector

 

4. CBIC releases National Time Release Study (NTRS) 2023 report: Chairman of CBIC, Vivek Johri has released the National Time Release Study 2023 report. Time Release Study is a performance measurement tool. Aim: To present quantitative measure of the cargo release time Import Release Time: Arithmetic mean of the period between 'arrival of Goods' and the Customs'granting of 'Out of Charge' Export Release Time: Arithmetic mean of the time between cargo's arrival at the port and its physical departure from the port/Customs station

 

5. Google and MeitY join hands for 'G20-Stay Safe Online': The Ministry of Electronics and Information Technology and Google have joined hands to drive citizen awareness 'G20-Stay Safe Online' campaign on online cyber safety in the country. Aim: To foster citizen awareness about online safety and security Google will raise awareness on the fundamentals of online safety through the 'Be Internet Awesome' programme. Both are working to enhance user awareness on cyber fraud and helping people identify common types of online scams

 

6. Two-day conference of Science-20 in Bhopal: The two-day conference of Science-20 under G-20 is being organized from 16th-17th June 2023 at the Taj Hotel in Bhopal, Madhya Pradesh. The theme of the conference is "Connecting Science to Society and Culture". The conference will be chaired by Professor Ashutosh Sharma, President of the Indian National Science Academy (INSA). The conference will be attended by representatives of G-20 countries, invited states and international organisations.

 

7. Women 20 Summit begins in Mahabalipuram: The W20 summit under the presidency of G20 begins in Mahabalipuram near Chennai. Prime Minister Narendra Modi has virtually addressed the inaugural session and union minister for women and child development Smriti Irani delivers the keynote address. The summit with a theme of women-led development to transform, thrive and transcend will be moderated by Dharitri Patnaik, the W 20 chief Coordinator. The sessions on the road to achieving sustainable development goals with an agenda on women’s health, gender equality, social and economic development will be moderated by Lauren Power, Founder and Advisor of Young professionals in foreign policy.

 

8. India’s wholesale price inflation falls to -3.48% in May 2023: India’s wholesale prices contracted for the second straight month in May, led by a fall in prices across all major categories. The Wholesale Price Index declined 3.48% year-on-year in May compared to a fall of 0.92% in April, according to data released by the Ministry of Commerce and Industry. The deflation in factory gate inflation for the second consecutive month in 2023-24 comes on the back of a higher base effect and due to a fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, chemical products, crude petroleum, and natural gas. The wholesale inflation was 16.63 percent in May 2022. Earlier, it was minus 3.7 percent in October 2015. Data shows the prices for manufactured items (minus 2.97 percent) contracted further in May, from minus 2.42 percent in April, led by a decelerated price rise in items such as beverages, apparel, cement, and mineral products.

 

INTERNATIONAL UPDATES:

 

1. Australia appoints Philip Green as country's new High Commissioner to India: Australian Foreign Minister Penny Wong has appointed Philip Green as Australia's next High Commissioner to India. He would succeed incumbent Barry O'Farrell, who served as Australian high commissioner to India since 2020. Presently, he is serving as the Australia's ambassador to Germany. Previously, he has also served as Australia's High Commissioner to Singapore, South Africa and Kenya. Hilary McGeachy has been appointed as Australia’s first Consul-General in Bengaluru

 

2. UK appoints Jane Marriott as first woman envoy to Pakistan: The United Kingdom government has appointed its senior diplomat Jane Marriott as the next British High Commissioner to Pakistan. She would be replacing Dr Christian Turner, who left Pakistan in January after serving as the envoy since December 2019. She also become the first female British envoy to Islamabad. Prior to this role, she was the high commissioner to Kenya since September 2019. She has also completed two diplomatic postings to Iraq and one to Afghanistan.

3. Defence Ministry approves MQ-9 Reaper drone deal with US: The Defence Ministry has approved the deal for acquiring the Predator (MQ-9 Reaper) drones from America for which the final decision would be taken by the Cabinet Committee on Security (CCS). The deal for the Predator drones was approved by the Defence Acquisition Council meeting. The DAC is the highest body in the Defence Ministry to take decisions on acquisitions. All high value acquisitions are given final approval by the CCS.

 

4. India to overtake China in oil demand growth by 2027: IEA report: According to a report by the International Energy Agency (IEA), the growth in demand for oil in India will overtake that in China by 2027. 'Oil 2023', the multilateral agency’s outlook highlighted that China’s demand will fall consistently from 2024 after a massive rise this year. The United States, China, and India are the world’s three largest oil consumers in that order. IEA also raised its forecast for world oil growth demand to 2.4 million barrels per day in 2023.

 

5. Gender Social Norms Index (GSNI) 2023 released: The United Nations Development Programme (UNDP) released the Gender Social Norms Index (GSNI) 2023, which covered 85% of the global population. The index has revealed that close to 9 out of 10 men and women hold fundamental biases against women. Nearly 90% of people still hold at least one bias against women. This index has tracked people’s attitudes towards women in four dimensions i.e. political, educational, economic and physical integrity.

 

6. 16 June – International Day of Family Remittances:  International Day of Family Remittances is observed every year on 16 June. Objective – To highlight the significant contributions of migrant workers who financially support their families Remittances refer to the money that is transferred by migrant workers to their native countries with the aim to contribute towards economic development. Theme 2023 – Digital remittances towards financial inclusion and cost reduction The International Fund for Agricultural Development (IFAD) and the World Bank together marked the first-ever International Day of Family Remittances on 16 June 2008, with the aim of highlighting the role of migrant workers and that of their remittances in improving the economy of developing countries. The day received global recognition and support by various organizations and finally on 16 June 2015, the United Nations General Assembly passed a resolution and declared 16 June as official International Day of Family Remittances.

 

OTHER UPDATES:

 

SPORTS

 

1. Asia Cup 2023 to be played in Pakistan and Sri Lanka: The Asia Cup 2023 will be take place in Pakistan and Sri Lanka between August 31 and September 17, 2023. Earlier, the tournament was originally meant to be held entirely in Pakistan. Recently, the Asian Cricket Council has approved the hybrid model, in which four of the 13 matches will be played in Pakistan and the remaining nine in Sri Lanka. In Pakistan, matches will be held in Lahore while the games to be played in Sri Lanka will be held in Kandy and Pallekele.

 

BANKING AND FINANCE

 

1. World Bank launches its first road safety project in South Asia : The World Bank (WB) has launched its first dedicated road safety project in South Asia with a USD 358 million financing agreement signed in Dhaka with the government of Bangladesh. The project seeks to improve road safety and reduce fatalities and injuries from road crashes in selected cities, high-risk highways, and district roads.

 

2. The project will focus on two national highways in Bangladesh: Gazipur-Elenga (N4) and Natore-Nawabganj (N6). These highways will serve as the primary sites for implementing various road safety measures. The aim is to achieve a substantial reduction of over 30 percent in road traffic deaths on these two highways. The project will introduce innovative emergency services, including the use of bike-ambulancesequipped with a toll-free number.

 

3. Indian Overseas Bank Introduces “MY ACCOUNT MY NAME”: Indian Overseas Bank has introduced “MY ACCOUNT MY NAME” for Savings Bank account customers. This is the first time such a feature has been introduced in the banking industry. In ‘My Account My Name’ customer can choose any name (alias) for his/her account in addition to the account name. This ‘Alias Name’ name can be shared by customers to others instead of sharing the 15-digit account numbers. The account name can be a combination of seven letters only or seven numbers only or seven alphanumeric — like AJIT007, PRADHAN or 2424707 and others. Customers can visit the bank’s website or the nearest branch to benefit from this scheme. The schemes were launched from Central Office, Chennai, virtually by Shri Ajay Kumar Srivastava, MD&CEO, Indian Overseas Bank with all the 49 Regional Offices.

 

4. Education loans register 17% growth in FY23: According to RBI data, the outstanding portfolio under education loans grew 17% at Rs 96,847 crore in the year 2022-23 as against Rs 82,723 crore in the previous year. For the first time in five years, growth in education loans not only turned positive but also registered a 17% surge in the last financial year ended March 2023. This is significant because the growth in education loans was flat during 2021-22 and it was negative for the three years prior to it. The education loans were down by 3 percent, 3.3 percent, and 2.5 percent during FY21, FY20, and FY19, respectively. The Non-Performing Assets (NPAs) in education advances stood at 7.82 percent of a total outstanding portfolio of ₹80,000 crore at the end of the first quarter of FY23. The NPA data for the full year is yet to come. The priority sector education loans slow only modest growth as they registered 0.9 percent growth in FY 23. In the previous financial year, they decreased by 7 percent.

 

AWARDS AND HONOURS

1. Vice President to confer 4th National Water Awards: The VP Jagdeep Dhankhar will confer the 4th National Water Awards on June 17, 2023 in New Delhi. The Department Water Resources, River Development, and Ganga Rejuvenation has announced a total of 41 winners.

The Best State award will be conferred to Madhya Pradesh, while the Best District will be conferred on Ganjam District, Odisha. Best Village Panchayat: Jagannadhapuram Village Panchayat, Telangana Best Urban Local Body: Chandigarh Municipal Corporation

 

2. GSITI Hyderabad gets Accredited as ‘Athi Uttam’: The Geological Survey of India Training Institute (GSITI) has been awarded accreditation as ‘Athi Uttam’ by the National Accreditation Board of Education and Training (NABET). The assessment was made on the basis of the inspection of all standard operating procedures and methodologies followed by the institute in different levels. The team from Capacity Building Commission (CBC), NABET and Quality Control of India conducted the on-site assessment and awarded the Certificate of Accreditation with the grading of Athi Uttam. Established in 1976, GSITI with its headquarters at Hyderabad, has six regional training divisions (RTD) located at Hyderabad, Nagpur, Jaipur, Lucknow, Kolkata and Shillong. Four field training centers (FTCs) are also established at Chitradurga (Karnataka), Raipur (Chhattisgarh), Zawar (Rajasthan) and Kuju (Jharkhand). These centers are established as per the vision of the Ministry of Mines to impart various trainings to geoscience professionals, teachers, researchers and students in various subjects of geology. GSITI is a national training facility, under the Ministry of Mines that provides training and capacity building to multiple stakeholders including Central and state departments, PSUs (MECL, ONGC, OIL, NMDC), national academic institutions (IITs, Central universities and colleges) and colleges. The institute regularly conducts courses on remote sensing under NNRMS programme sponsored by the Indian Space Research Organization (ISRO). GSITI provides domain specific and terrain specific training programmes through its center at Hyderabad and RTDs and FTCs located across the country.

 

3. Indian film ‘When Climate Change Turns Violent’ wins WHO award: An Indian documentary film titled “When Climate Change Turns Violent” has won a special prize in the ‘Health for All’ category at the 4th Annual Health for All Film Festival (HAFF) held at the World Health Organization (WHO) headquarters in Geneva. The documentary has been directed by Vandita Saharia of Rajasthan. She was the only Indian among the winners. The 4.32-minute documentary focuses on the relationship between domestic violence, climate change and human trafficking. Another documentary film titled “One in 36 Million: Story of Childhood Lead Poisoning in Bangladesh”, directed by Arifur Rahma and Mitali Das and produced by Pure Earth Bangladesh, won the award under the ‘Better Health and Well-being’ category. This year, more than 780 entries were received by the jury. Of them, 93 films were shortlisted which covered issues ranging from anxiety and depression through to the effects of climate change on health, as well as the health challenges of people with disabilities. WHO initiated HAFF in 2019 to make audio-visual language a key component of the organization’s “communicating for health impact” approach. Well-produced and well-targeted short films can improve the health status of some groups by encouraging behaviour change or providing knowledge, motivation, or skills needed for people to take action.

Daily GK Update- 15th June, 2023

NATIONAL UPDATES:

 

1. India to host IIAS Annual Conference 2025 at Kochi, Kerala: India will host the 2025 International Institute of Administrative Sciences (IIAS) Annual Conference at Kochi, Kerala in February 2025. Theme: Next Generation Administrative Reforms – Empowering Citizens and Reaching the Last Mile The hosting decision has been conveyed to the IIAS's Council of Administration via video conference. IIAS was established in 1930; HQ: Brussels Aim: To elaborate the public administration solutions to the policy challenges of the day

 

2. India’s wholesale price inflation falls to -3.48% in May 2023: The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is (-) 3.48% (Provisional) for the month of May 2023, against (-) 0.92% recorded in April 2023. Reason: Fall in prices of mineral oils, basic metals, food products, textiles, non-food articles, crude petroleum & natural gas, and chemical & chemical products The food index has declined to 1.59%, while fuel and power fell to 9.17%

Manufactured product prices fell 2.97% in May 2023

 

3. Minister Dharmendra Pradhan flags off Gabon’s first Agri-SEZ Project: Union Minister of Education, Dharmendra Pradhan has flagged off the first Agri- SEZ project of Gabon from New Delhi on June 14, 2023. This project will be implemented by the AOM group with Centurion University as the technical and knowledge partner. In the first phase 30 farmers and 20 B.Sc./M.Sc. Agri and B.Tech/M.Tech Engineering students from Gajapati district, Odisha will be traveling together as agri-technical and technical consultants for the agriculture SEZ.

 

4. Padma Awardees from Haryana to get Rs 10000 monthly: Haryana CM Manohar Lal Khattar has announced a monthly pension of ₹ 10,000 for the Padma awardees from the state. Besides the monthly pension, a free travel facility in the 'Volvo bus' service of the state government for Padma Shri, Padma Bhushan and Padma Vibhushan awardees from Haryana. The state government is also giving the benefit of health insurance up to ₹ 5 lakh to families with an annual income of up to ₹ 1.80 lakh.

 

5. Amit Shah unveils ₹8,000 crore schemes to strengthen disaster management: Union home minister Amit Shah has chaired a meeting with ministers of disaster management from the states and union territories to discuss disaster risk reduction and strengthen the country’s disaster management system. During the meeting, Shah announced three major schemes worth over ₹8,000 crore to bolster disaster management efforts across the nation. The first scheme, valued at ₹5,000 crore, aims to expand and modernize fire services in states. The project intends to enhance firefighting capabilities, upgrade equipment, and improve infrastructure to effectively respond to fire emergencies. The second scheme, with a budget of ₹2,500 crore, focuses on reducing the risk of urban flooding in seven of India’s most populous metros, including Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Ahmedabad, and Pune. The project aims to implement measures to mitigate the impact of flooding in urban areas, safeguarding lives and property. The third scheme, worth ₹825 crore, is the National Landslide Risk Mitigation Project. It aims to address the issue of landslides in 17 states and Union Territories by implementing measures to prevent and mitigate landslides, ensuring the safety of vulnerable communities.

 

6. Odisha celebrates ‘Raja’ agricultural festival: Odisha has celebrated the Raja festival, an agricultural festival. Raja festival is celebrated for three days. The first day of the festival is called ‘Pahili Raja’, the second day is called ‘Majhi Raja’ ‘Raja Sankranti’ or ‘Mithuna Sankranti’, the third day is ‘Bhudaha’ or ‘Basi Raja’ or ‘Sesha Raja’. Most of the festivals are connected to agriculture in one way or the other. So is the Raja festival. Odisha’s Raja festival is a unique one as mother earth is worshipped during this festival. Notably, ‘Pahili Raja’ falls on the last day of month ‘Jyestha’ and ‘Raja Sankranti’ on the first day of month ‘Asadha’, celebrating the beginning of the rainy season. As women are compared with mother earth, as the former menstruate, the latter too is believed to be undergoing her menstrual cycle during this festival.

This is why all agricultural activities like tilling and digging are suspended during this festival. Just like a menstruating woman, mother earth is allowed to take full rest without any tampering.

 

7. Sanjay Kumar appointed as Marketing Director of GAIL: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Sanjay Kumar for the post of Director (Marketing) of GAIL (India) Limited. Kumar has been appointed to the post with effect from the date of taking over charge of the post till the date of his superannuation i.e. June 30, 2027, or until further orders, whichever is earlier. Presently, he is the Managing Director of Indraprastha Gas Limited (IGL), the largest CNG distribution company of India.

 

8. Uttam Lal takes over as Director (Personnel) NHPC Ltd: Uttam Lal has taken over as Director (Personnel) of NHPC Limited. Prior to his appointment at NHPC, Lal was serving as Chief General Manager (HR-CSR/R&R/LA) in NTPC Limited. Lal has over 35 years of vast and rich experience in the area of Personnel Management, Industrial Relations and Corporate Social Responsibility. Lal was recommended for the post of Director (Personnel) of NHPC Limited by the PESB panel in its selection meeting held on February 28.

 

9. Fourth warship of Indian Navy ‘Sanshodhak’ launched: The fourth Survey Vessel Large (SVL) of the Indian Navy, named ‘Sanshodhak’, was launched at Kattupalli, Chennai. The ship named ‘Sanshodhak’, meaning ‘Researcher’, signifies the primary role of the ship as a Survey Vessel. The launch of the fourth SVL reinforces our resolve in indigenous shipbuilding, as part of the government’s vision of ‘Make in India’ and Aatma Nirbhar Bharat. The project, being built by L&T/GRSE for Indian Navy was launched at Kattupalli, Chennai. The chief guest of the launch ceremony was Adhir Arora, Chief Hydrographer to the Government of India. SVL ships will replace the existing Sandhayak Class survey ships, with new-generation hydrographic equipment, to collect oceanographic data. The SVL ships are 110 m long, 16 m wide with a displacement of 3,400 tons. The hull of these ships is made from indigenously developed DMR 249-A steel manufactured by Steel Authority of India Limited.

 

INTERNATIONAL UPDATES:

 

1. UNGA adopts resolution to honour fallen peacekeepers, introduced by India: The UNGA has adopted a draft resolution to establish a memorial wall in the UN headquarters to honor fallen peacekeepers. Ruchira Kamboj (India’s Permanent Representative to the UN Ambassador) has introduced the draft resolution titled ‘Memorial wall for fallen United Nations peacekeepers.' The resolution was submitted by 18 countries including Bangladesh, Canada, China, Denmark, Egypt, France, India, Indonesia, Jordan, Nepal, Rwanda, and the US.

 

2. NTPC secures 433rd rank in Forbes 'The Global 2000'- List for 2023: According to the 2023 Forbes' -The Global 2000, India's largest power generation company, National Thermal Power Corporation Limited (NTPC) has climbed 52 positions to secure the 433rd rank in the list. In the 2022 ranking, the company was on 485th rank. The climb of 52 positions has demonstrated the NTPC's emergence as a strong force in the global market. 'The Global 2000' List recognizes the world's largest companies based on sales, profits, assets, and market value.

 

3. World Elder Abuse Awareness Day 2023: 15th June: World Elder Abuse Awareness Day is observed every year on June 15 to raise awareness about the abuse experienced by older adults. 2023 theme: Closing the Circle: Addressing Gender-Based Violence (GBV) in Older Age - Policy, Law and Evidence-based Responses In 2006, this day was started by the International Network for the Prevention of Elder Abuse (INPEA). In 2011, the United Nations adopted it as a designated day for the prevention of abuse of older people.

 

4. Tata Steel, Germany’s SMS Group join hands for decarbonisation project: Tata Steel Limited and Germany’s SMS group have signed an MoU to collaborate on the decarbonization of steel making process. Under this MoU, the companies shall undertake further technical discussions and initiate actions for conducting Joint Industrial Demonstration of the EASyMelt technology (developed by SMS group). The demonstration will be executed at ‘E’ Blast Furnace in Tata Steel’s Jamshedpur plant with an objective to reduce CO2 emission.

 

5. 15 June – World Elder Abuse Awareness Day: World Elder Abuse Awareness Day (WEAAD) is observed every year on June 15. Objective – To raise awareness about the abuse and neglect experienced by older adults Theme 2023 – Closing the Circle: Addressing Gender-Based Violence (GBV) in Older Age – Policy, Law and Evidence-based Responses This day aims to promote understanding of the importance of preventing elder abuse and supporting the rights and well-being of older people. World Elder Abuse Awareness Day (WEAAD) was officially recognized and established by the United Nations General Assembly on June 15, 2011 however, the history of raising awareness about elder abuse predates this specific observance.

6. 15 June – Global Wind Day: Global Wind Day is observed every year on 15 June. This special day serves as a reminder of the incredible potential and significance of wind power in addressing climate change and promoting sustainable energy solutions. The first Wind Day was organized in 2007 by European Wind Energy Association (EWEA). In 2009, the European Wind Energy Association (Wind Europe) and Global Wind Energy Council collaborated to make Wind Day a global event. The day acknowledges the power of the wind and raises awareness about its potential as a sustainable resource.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. Russia’s Sberbank launches Indian rupee accounts for individuals: Russia’s dominant lender, Sberbank has launched Indian rupee accounts for individuals. Aim: To expand the range of foreign currencies available to reduce dependency on the U.S. dollar and euro Sberbank has more than 100 million retail clients and already offers deposits in China’s yuan and UAE dirhams. Rupee accounts would also be available to clients. Sberbank would also raise rates on dirham deposits by 100 basis points for a six-week period.

 

2. IRDAI nod for SBI MF to pick upto 10% in ICICI Lombard: IRDAI has given its approval to SBI Mutual Fund to acquire up to 10% of the total paid up equity share capital of ICICI Lombard General Insurance through market purchase. The approval of IRDAI is valid for a period of one year from the date of Irdai approval letter. This approval is subject to compliance with applicable provisions of IRDAI (Registration of Indian Insurance Companies) Regulations, 2022, Indian Insurance Companies (Foreign Investment) Rules, 2015

 

3. Microfinance loan portfolio up 22% to Rs 3.48 trillion in FY23: Microfinance loan portfolio increased by 22% to Rs 3.48 lakh crore during 2022-23. Gross loan portfolio stood at Rs 2.85 lakh crore as on March 31, 2022. Microfinance loan disbursals during FY 2022-23 improved by 23% to Rs 2,96,423 crores compared to Rs 2,39,433 crore in the previous financial year. About 7.17 crore loans were disbursed during FY 22-23 as against 6.30 crore in the previous year.

 

4. Education loans register 17% growth in FY23: According to RBI data, the outstanding portfolio under education loans grew 17% at ₹96,847 crore in the year 2022-23 as against ₹82,723 crore in the previous year. For the first time in five years, growth in education loans not only turned positive but also registered a 17% surge in the last financial year ended March, 2023. The NPA in education advances stood at 7.82% of a total outstanding portfolio of ₹80,000 crore at the end of the first quarter of FY23.

 

5. Reserve Bank of India (RBI) opens regional office in Nagaland: The Reserve Bank of India (RBI) has opened its sub-office in Kohima, Nagaland, expanding its presence in the northeastern region. RBI Deputy Governor Michael Debabrata Patra inaugurated the office. RBI now has a presence in Assam, Manipur, Meghalaya, Mizoram, Tripura, and Nagaland. With this move, RBI aims to expand its reach in the region and better serve the financial needs of the people. Additionally, the central bank has announced its intention to establish an office in Itanagar, further demonstrating its commitment to enhancing its operations in the North East. The sub-office in Kohima begins functioning with the following departments — Financial Inclusion and Development Department (FIDD), Consumer Education and Protection Cell (CEPC), Market Intelligence Cell and Human Resource Management Department (HRMD). The currency management for Nagaland will continue to be conducted by the RBI’s office in Guwahati.

The Reserve Bank’s office in Itanagar is expected to open shortly.

 

AWARDS AND HONOURS

 

1. RBI Governor Shaktikanta Das honoured with ‘Governor of the Year’ award: The Reserve Bank of India's Governor, Shaktikanta Das was honored with the title of ‘Governor of the Year 2023' by Central Banking in London. Reason: For his role in managing inflation and handling India's banking system during crises like the COVID pandemic and global turmoils He is the second RBI governor after Raghuram Rajan, who was honored with this title in 2015. While the National Bank of Ukraine was presented with the 2023 Central Bank of the Year.

 

2. Ramachandra Guha’s book wins Elizabeth Longford Prize 2023: Historian and writer Ramchandra Guha’s book Rebels Against the Raj: Western Fighters for India’s Freedom has won the Elizabeth Longford Prize for Historical Biography 2023. Guha has been awarded £5,000 (₹5 lakhs approximately) and a bound copy of Elizabeth Longford’s memoir, The Pebbled Shore. The Bengaluru-based historian’s book tells the story of seven foreigners — four British, Two American, and one Irish — who joined India’s freedom fight against British rule. The list of names includes Annie Besant, B.G. Horniman, Philip Spratt, Richard Ralph Keithahn, Samuel Stokes, Madeline Slade, and Catherine Mary Heilemann. The award was founded in 2003 by Flora Fraser and Peter Soros to commemorate British historian Elizabeth Longford. Every year it rewards exemplary works in historical biography. The prize is celebrating its 20th anniversary this year. The book has been published by Penguin Random House in India, William Collins in the U.K., and Alfred Knopf in the USA.

Daily GK Update- 14th June, 2023

NATIONAL UPDATES:

 

1. Pankaj Agrawal appointed as new Power Secretary: The government of India has appointed Pankaj Agrawal as the new Power Secretary. He would replace present Secretary Alok Kumar, who will retire on June 30. While Rajat Mishra will be the new Fertiliser Secretary, and Chanchal Kumar to join the Civil Aviation Ministry as Secretary. Sudhansh Pant will move from the Ports, Shipping and Waterways Ministry to Health Ministry. Subhas Chandra Lal Das will move to the Ministry of MSME as Secretary.

 

2. Odisha celebrates 'Raja' agricultural festival: Odisha is celebrating the Raja festival, an agricultural festival on June 14, 2023. The first day is observed as ‘Sajabaja’, which means preparations, while the second day is observed as Pahili Raja. The third day is observed as ‘Majhi Raja’ or ‘Mithuna Sankranti’ and the fourth day is ‘Bhudaha’ or ‘Sesha Raja’. The fifth day is called ‘Basumati Snana’. On this day, ladies give a bath to the grinding stone, considering it as mother earth.

 

3. Vigyan -Vidushi 2023 summer programme: Vigyan -Vidushi – 2023 has been commenced at the Homi Bhabha Centre for Science Education (HBCSE), in Mumbai. It is an initiative to address the gender balance in the discipline of Physics at the doctorate level. 40 women students from forty different institutes all over India have attended this program which gave them exposure to advanced physics courses. This program is an initiative of Tata Institute of Fundamental Research (TIFR), through its HBCSE.

 

4. Amitava Mukherjee gets 3 months extension as CMD of NMDC: The Ministry of Steel has given three months extension to Amitava Mukherjee, Director (Finance) of the NMDC to hold the additional charge of Chairman and Managing Director (CMD) mining major and its disinvested company NMDC Steel Limited (NSL). Thus, he will be holding the additional charge as CMD of NMDC Limited for a further period of three months with effect from June 1, 2023 to August 31, 2023. A wholly owned subsidiary of NMDC Limited, NMDC Steel Limited was incorporated on January 2, 2015, under the Companies Act, 2013 with a registered office at NMDC Iron and Steel Plant, Nagarnar (Bastar, Chhattisgarh). The NSL has set up a 3 MTPA greenfield integrated steel plant in Nagarnar that is all set to go on full stream this month.

 

5. Mumbai Traffic Police declare ‘No Honking Day’ on June 14: Mumbai Police’s Traffic Control Branch has taken a significant step to address the issue of noise pollution and its detrimental effects on public health. They have announced the observance of a ‘No Honking Day’ on June 14, aimed at curbing the unnecessary use of vehicle horns. With noise pollution causing harm to both the environment and human health, the police are urging motorists to positively respond to this initiative by refraining from honking their horns. The Mumbai Police advised all motorists to ensure that their vehicle horns meet the guidelines specified in Rule 119 of the Central Motor Vehicle Rules, 1989

INTERNATIONAL UPDATES:

 

1. World Blood Donor Day 2023: June 14: World Blood Donor Day is celebrated every year on June 14 to raise awareness for the necessity of blood donation and thank the altruistic acts of selflessness of voluntary blood donors and celebrate life and humanity. 2023 theme: Give blood, give plasma, share life, share often This day was first distinguished by the WHO in 2004. At the 58th World Health Assembly (2005), it was declared an annual global event on June 14 (the birthday of Karl Landsteiner).

 

2. Global Slavery Index 2023 released: The Global Slavery Index 2023 provides national estimates of modern slavery for 160 countries. Produced by: ILO, Walk Free, and International Organisation for Migration Walk Free has reported that 49.6 million people are living in modern slavery, out of which, India is home to 11 million. Countries with the highest prevalence: North Korea, Eritrea, Mauritania, Saudi Arabia, and Turkey Countries with the lowest prevalence: Switzerland, Norway, and Germany

 

3. Indo-Maldives joint military exercise commences: The 12th edition of the joint military exercise “Ex Ekuverin” between the Indian Army and the Maldives National Defence Force has commenced at Chaubatia, Uttarakhand. “Ekuverin” means “Friends” and is a bilateral annual exercise conducted alternatively in India & Maldives. The primary objective of the exercise is to enhance interoperability in counter-insurgency/counter-terrorism operations under the UN mandate. Additionally, it aims to facilitate joint humanitarian assistance and disaster relief operations, it added. The previous edition of the exercise, the 11th edition, was held in the Maldives in December 2021.

 

4. 13 June – International Albinism Awareness Day : International Albinism Awareness Day is observed every year on 13 June. Objective – To spread awareness about the human rights of the Albinos across the world and also to condemn such attacks Theme 2023 – Inclusion Is Strength The United Nations Human Rights Council adopted the first resolution on albinism on June 13, 2013, called “Attacks and discrimination against persons with albinism.” Eventually, the United Nations’ General Assembly (UNGA), on December 18, 2014, established June 13 as International Albinism Awareness Day. The celebration has taken place since 2015 as International Albinism Awareness Day. Albinism was a serious problem in Tanzania during the mid-2000s. The country is believed to be having the highest percentage of albinos living. Hundreds of them have been brutally murdered and mutilated in the African country in the past decades. Local superstitions claim their body parts can bring luck and prosperity. Another widespread rumor is that albinos are evil spirits. The Tanzania Albinism Society (TAS) and other NGOs campaigned for the human rights of albinos.

 

 

OTHER UPDATES:

 

SPORTS

 

1. Harry Tector won ICC Men’s Player of the Month for May: Ireland’s Harry Tector has won the ICC’s Men’s Player of The Month award for May 2023, beating off competition from Pakistan star Babar Azam and Bangladesh’s Najmul Hossain Shanto. Tector has been one of the rising stars in Ireland cricket and was in top form during the ODI series against Bangladesh recently. The 23-year-old was 21 not out in the first match, that got washed out, but it was in the second ODI he showed his class. Tector scored 140 from just 113 balls with seven fours and 10 sixes to help Ireland recover from a poor start. The youngster would then cap off a great series for him with 45 in the final ODI. While, 19-year-old Thipatcha Putthawong (Thiland) has become the latest recipient of the ICC Women’s Player of the Month for May 2023, after her countrywoman Naruemol Chaiwai won it last month.

 

2. Andy Murray beats Jurij Rodionov to win Surbiton Trophy: Tennis player Andy Murray clinched his second ATP Challenger Tour title of the season Surbiton Trophy. The former World No. 1 defeated Jurij Rodionov 6-3, 6-2 in the final at the ATP Challenger Tour 125 grass-court event. The 36-year-old Murray also became the oldest grass-court champion at an ATP Challenger Tour event and earned a seeded position at Wimbledon next month which begins on 3 July. It was his first singles title on grass since winning Wimbledon in 2016. Murray withdrew from the French Open to prioritize Wimbledon, where he has won two of his majors on grass.

 

3. Uruguay beat Italy to win maiden FIFA U-20 World Cup title: Uruguay beat Italy 1-0 to win its first Under-20 World Cup title. 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 in a header from close range, giving Uruguay a much-deserved victory after an entire match of dominance against Italy. France finished third, defeating South Korea 3-2 in the third-place playoff. Uruguay lost the final of the tournament in 1997 and 2013. Brazil was the last winner from South America in 2011. FIFA decided to hand the organization over to Argentina one month before kickoff.

 

BANKING AND FINANCE

 

1. Fino Payments Bank partners Hubble for `Spending Account: Hubble has joined hands with Fino Payments Bank for introducing India's first spending account. Features: Depositors can save money in the account and earn up to 10% cash back on all purchases they make from the account. They can track expenses over 50 partnered brands and potentially save up to Rs. 20,000 annually. Users earn an interest rate of 2.75% annually on their parked funds. It will be integrated with Fino Payments Bank's digital savings account.

 

2. Sebi introduces framework for direct mutual fund investment platforms: SEBI has introduced a regulatory framework for online investment platforms that facilitate investments in commission-free mutual fund schemes. It also addresses investor concerns about associated risks and introduces a grievance redressal mechanism. Platforms providing MF investment services in direct (commission-free) plans will have to apply for an 'execution only platform' licence through Sebi or AMFI within three months of the regulation coming into force.

 

3. KVG Bank launches a new deposit scheme: Karnataka Vikas Grameena Bank (KVGB) has launched a new deposit scheme ‘Vikas Ashadeep 400 days”. Features: The scheme is of a tenor of 400 days with an interest rate of 7.5% for senior citizens and 7% for the general public. Prospective customers of the scheme will earn higher interest for a shorter period (almost 13 months). Under the scheme, a minimum of Rs 10,000 and a maximum of Rs 2 crore can be deposited. KVGB chairman: Shreekant Bhandiwad

 

4. NPCI introduces UPI plug-in with RING digital credit platform: RING digital credit platform has partnered with the National Payments Corporation of India to add its newly launched UPI plug-in functionality to RING's pre-existing suite of digital services. Aim: To help RING offer 'scan & pay' options to its existing customers and acquire new customers who use UPI as a preferred mode of payment It will become a one-stop integrated payment and credit solution where a customer can avail credit and pay merchants across the country.

 

5. India’s CPI inflation eases to 4.25 percent in May: India’s retail inflation dropped to 4.25 percent in May from 4.7 percent in April, according to a data from the Ministry of Statistics and Programme Implementation. The consumer price-based index (CPI) inflation in May is lowest in 25 months. The food inflation also eased to 2.91 percent in April. It was 3.84 percent in the month of April. The food basket accounts for nearly half of the CPI. While, inflation in fuel and light also eased to 4.64 percent, from 5.52 percent in April. It was for the second month in a row that retail inflation remained within the Reserve Bank of India (RBI)’s comfort zone of below six percent. Despite the huge 227-basis-point fall since January, CPI inflation remains above the central bank’s medium-term target of 4 percent for the 44th month in a row. India’s CPI inflation in April fell sharply to 4.7 percent from 6.4 percent in February on the back of favourable base effects, with softening observed across all three major groups.

 

AWARDS AND HONOURS

 

1. Ramachandra Guha's book wins Elizabeth Longford Prize 2023: The book 'Rebels Against the Raj: Western Fighters for India’s Freedom', authored by Ramachandra Guha has won the £5,000 Elizabeth Longford Prize 2023 for Historical Biography. This book tells the story of seven foreigners (4 British, 2 American, and 1 Iris) who joined India’s freedom struggle. The list includes Annie Besant, B.G. Horniman, Philip Spratt, Richard Ralph Keithahn, Samuel Stokes, Madeline Slade, and Catherine Mary Heilemann. Prize money: £5,000

 

2. GSITI Hyderabad gets Accredited as 'Athi Uttam': The Geological Survey of India Training Institute has been awarded accreditation as 'Athi Uttam' by the National Accreditation Board of Education and Training (NABET). The assessment was made on the basis of the inspection of all standard operating procedures and methodologies. The team of the Capacity Building Commission (CBC), NABET, and Quality Control of India conducted the on-site assessment. GSITI was established in 1976 and its headquarters located in Hyderabad.

 

3. EPFO set to be ISSA affiliate member, get global recognition: EPFO will gain access to professional guidelines, expert knowledge, services, and support from the International Social Security Association (ISSA). The move comes after the central board of trustees of EPFO gave its approval to change its membership status with ISSA from associate member to affiliate member now. The organization became an associate member in 1962. Other than EPFO, the Coal Mines Provident Fund Organisation is the only ISSA affiliate member from India.

 

4. RBI Governor Shaktikanta Das named ‘Governor of the Year’: Reserve Bank of India (RBI) Governor Shaktikanta Das was awarded the “Governor of the Year” at the Central Banking Awards 2023 in London. Central Banking is a London-based international economic research journal. Das is the second RBI governor to receive the award after Raghuram Rajan, who was given the title in 2015. The RBI governor has cemented critical reforms, overseen world-leading payments innovation and steered India through difficult times with a steady hand and well-crafted turn of phrase. Das is a retired Indian Administrative Service (IAS) officer of the Tamil Nadu cadre, who is currently serving as the 25th governor of the RBI. He has worked for both the central government and the Tamil Nadu government in several capacities, such as the economic affairs secretary, the revenue secretary, and fertilizers secretary.

 

OBITUARIES

 

1. Cormac McCarthy, novelist of a darker America, passes away: A novelist, Cormac McCarthy passed away at 89 in the USA. “All the Pretty Horses,” “The Road” and “No Country for Old Men” were among his acclaimed books that explore a bleak world of violence and outsiders. He was awarded the National Book Award in 1992 for his novel 'All the Pretty Horses'. He also won a Pulitzer Prize in 2007 for 'The Road'. Other novels: Suttree, Blood Meridian, The Border Trilogy, No Country for Old Men

 

2. Former Italian PM Silvio Berlusconi passes away: Former Prime Minister of Italy Silvio Berlusconi passed away at the age of 86. Berlusconi previously served as Prime Minister of Italy four times, from 1994 to 1995, 2001 to 2006, and 2008 to 2011. Berlusconi’s centre-right Forza Italia party went into coalition under right-wing Prime Minister Giorgia Meloni last September.