Daily GK Update- 18th June, 2023

NATIONAL UPDATES:

 

1. Indian Navy’s Outreach Program “Jully Ladakh” (Hello Ladakh): Indian Navy is conducting “Julley Ladakh” (Hello Ladakh), an outreach programme to Ladakh to increase awareness about the service in the pristine state and to engage with youth and civil society there. As part of this initiative, a 5000 km Motorcycle Expedition was flagged off from the National War Memorial by Vice Admiral Sanjay Jasjit Singh, the Vice Chief of Naval Staff. This outreach program follows the successful efforts of the Indian Navy in the North East region and the Sam No Varunah car expedition, which aimed to connect with citizens in coastal states.

 

2. Uttar Pradesh CM renames UP prisons as ‘Reform Homes’: Uttar Pradesh Chief Minister Yogi Adityanath has given guidelines for prison reform to establish prisons as ‘Sudhaar Grah’ (Reform Homes). The objective of the Prison Act of 1894 is to maintain discipline and control over offenders in custody, but we need to focus on reform and rehabilitation. Therefore, considering the future, it is necessary for us to implement new acts. The Model Prison Act – 2023 has recently been prepared by the Govt of India, which is useful for the reformation and rehabilitation of prisoners. The state cabinet has also approved the new jail manual, which is an important effort toward prison reforms.

 

3. Warkari community celebrates Palkhi festival in Maharashtra: Warkari community has celebrated the Palkhi festival in Pandharpur, Maharashtra. Palkhi festival is an annual yatra to Pandharpur in Maharashtra to honor the Hindu God Vithoba. The Palkhi festival is a tradition that dates back 1000 years and was initiated by saints from Maharashtra, India. The Palkhi festival takes place in the month of Jyeshth (June) and lasts for a total of 22 days. It involves a journey from the departure points to Pandharpur. It is still practiced today by their followers known as varkaris. These varkaris are individuals who follow a vari, which is a fundamental ritual associated with the festival. Devotees take a holy dip in the sacred Chandrabhaga River before visiting the Vithoba temple.

 

4. Centre unveiled Dugdh Sanakalan Sathi Mobile App: Union minister of heavy industries, Mahendra Nath Pandey has launched the “Dugdh Sanakalan Sathi Mobile App" in Mussoorie, Uttarakhand. This mobile application was developed by Rajasthan Electronics & Instruments Limited (REIL), a CPSE Mini Ratna under the Ministry of Heavy Industries. Aim: To bring about a significant transformation in the Indian dairy industry by addressing key challenges in the milk collection process.

 

5. Centre sets up panel to recommend reforms in arbitration law: The Department of Legal Affairs under the Union law ministry, has set up a panel to recommend reforms in the Arbitration and Conciliation Act. The committee would be led by former law secretary T K Vishwanathan. Aim: To reduce the burden on courts Other members: Rajiv Mani (Law Ministry additional secretary), some senior advocates, representatives of private law firms, and officials of the Legislative Department, Niti Aayog, NHAI, railways, and CPWD

 

6. PM Modi pens song with Grammy winner Falu: PM Narendra Modi has collaborated with an Indian-American singer, Falguni Shah (Stage name Falu) to promote the benefits of millet and its potential to alleviate world hunger. Title of the song track: Abundance in Millets Falu was awarded the Grammy Award in 2022. The year 2023 has been designated as the ‘International Year of Millets’ after a proposal for it was brought forward by India and endorsed by Members of the UN’s FAO Governing Bodies.

 

INTERNATIONAL UPDATES:

 

1. Britain appoints Jane Marriott as first female envoy to Pakistan: The United Kingdom has appointed Jane Marriott as the next British High Commissioner to Pakistan, making her the first female British envoy to Islamabad. Jane Marriott previously served as the High Commissioner to Kenya since September 2019. She will replace Dr Christian Turner, who held the position of British Ambassador to Pakistan since December 2019.

 

2. 18 June 2023 – International Father’s Day: International Father’s Day is celebrated every year on third Sunday of June. This year Father’s Day held on 18th June. The day honours fathers or father figures in our lives and the sacrifices they make to raise us. Our fathers are heroes in our lives, capable of achieving any feat, teaching us strength in silence, and adept at solving all problems. Father’s Day originated in the US after the daughter of a Civil War veteran, Sonora Smart Dodd, wanted to pay an ode to all fathers across the globe. William Jackson Smart was a single father to six children. His daughter decided to honour him by choosing his birth anniversary, June 5, 1982, to celebrate Father’s Day. Finally, the date got pushed from June 5 to the third Sunday of June. In 1910, Father’s Day was marked for the first time.

 

3. World Day to combat desertification and Drought 2023: June 17: The World Day to Combat Desertification and Drought is observed annually on June 17th to raise awareness about the threats posed by desertification and drought and promote efforts to combat these challenges. 2023 theme: Her land. Her rights The World Day to Combat Desertification and Drought was established in 1994 following a convention held at the United Nations General Assembly. The inaugural observance took place in 1995.

 

4. International Day for Countering Hate Speech 2023: 18th June: The International Day for Countering Hate Speech is observed on June 18, every year to address the pressing global problem of hate speech. This day holds great importance as it calls for collective action to counter the spread of divisive rhetoric and promote understanding, respect, and inclusivity. The Day marked by UNGA recognized the devastating consequences of hate speech and reaffirms the commitment to human rights and equality.

OTHER UPDATES:

 

SPORTS

 

1. Pakistan’s Nahida Khan announces retirement from international cricket: Pakistan women’s cricketer Nahida Khan has announced her retirement from international cricket, bringing an end to a remarkable career that spanned over a decade.The 36-year-old opening batter made her debut for the national team in February 2009 against Sri Lanka and went on to represent Pakistan in over 100 matches across formats. She represented Pakistan in three 50-over World Cups (2013, 2017 and 2022) and in four T20 World Cups (2012, 2014, 2016 and 2018).

 

2. Asia Cup 2023 to be played in Pakistan and Sri Lanka: The Asia Cup 2023 will take place in Pakistan and Sri Lanka between August 31 and September 17, 2023. The tournament will be held on a hybrid model for the first time in the history of the championship. India, Pakistan, Sri Lanka, Bangladesh, Afghanistan, and Nepal will take part in the Asia Cup. The tournament will be hosted in a hybrid model with four matches being held in Pakistan, and the remaining nine matches being played in Sri Lanka. Sri Lanka won the Asia Cup last time around in 2022 after beating Pakistan in the final at the Dubai International Cricket Stadium. India failed to make their way through to the final after losing to Sri Lanka and Pakistan in the Super 4 round.

 

BANKING AND FINANCE

 

1. Former RBI DG Vishwanathan appointed as Non-Executive Chairman of Axis Bank: The board of directors of the third largest private sector bank, Axis Bank has appointed NS Vishwanathan as the non-executive chairman for three years. His appointment will be effective from October 27, 2023, or the date of approval of his appointment by the RBI. NS Vishwanathan was a seasoned banker, who handled critical areas like regulation. He has also served as a Deputy Governor of the Reserve Bank of India between 2016 and 2020.

 

2. Paytm Introduces UPI SDK for Seamless Online Merchant Payments: Paytm has introduced a UPI software development kit (SDK) for customers to make payments to online merchants without any failure of the system. UPI SDK has also assured fail-proof transactions. Paytm UPI SDK will let users pay directly from bank accounts through UPI PIN without having to jump between merchant and payment app. Along with Paytm UPI Lite, the company is enhancing two-sided payments, for both merchants and customers.

 

3. World Bank approves $150-million loan for Resilient Kerala programme: The World Bank has approved a $150 million loan to support the Resilient Kerala program to continue strengthening the state’s preparedness against natural disasters, climate change impacts, and disease outbreaks. Aim: To deepen the state’s resilience in critical areas of coastal erosion and water resource management This loan from the International Bank for Reconstruction and Development (IBRD) has a final maturity of 14 years, including a grace period of six years.

 

AWARDS AND HONOURS

 

1. India's metaverse platform Bharatmeta receives global recognition: Kiya.ai has unveiled its version of the metaverse called Bharatmeta, making it the first of its kind from India, at the prestigious VivaTech event held in Paris 2023. The demonstration took place at the India Pavilion during the event ‘VivaTech’. VivaTech is recognized as Europe's largest annual technology and startup gathering. Bharatmeta offers practical use cases for banking, commerce, culture, and collaboration within the metaverse.

 

2. Arundhati Roy wins 45th European Essay Prize for 'Azadi': Writer and activist, Arundhati Roy has been awarded the 45th European Essay Prize for lifetime achievement on the occasion of the French translation of her latest essay, 'Azadi'. The French translation 'Liberte, fascisme, fiction' appeared in the leading French publishing group, Gallimard. The award ceremony will take place on September 12 at the Lausanne Palace. At the award ceremony, Arundhati Roy will discuss the environment and globalization, caste and language.

Daily GK Update- 17th June, 2023

NATIONAL UPDATES:

 

1. MP to get its 7th tiger by clubbing Nauradehi & Durgavati sanctuaries: ‘Tiger State’ Madhya Pradesh is to get its seventh tiger reserve with the notification of Nauradehi and Durgavati Wildlife Sanctuaries as a combined protected area. Nauradehi Wildlife Sanctuary: It is the largest wildlife sanctuary in Madhya Pradesh and acts as a corridor for Panna Tiger Reserve and Satpura Tiger Reserve Durgavati Wildlife Sanctuary: It is located in the Damoh district of Madhya Pradesh and hosts 18 species of mammals.

 

2. IIT Madras researchers devised a mathematical model on 'Prospect Theory.': Indian Institute of Technology Madras (IIT Madras) researchers have devised a mathematical model on contract farming to predict farmers' delivery of commodities using a decision-theoretic framework based on the 'Prospect Theory.' Prospect Theory is a psychology theory that describes how people make decisions when presented with alternatives that involve risk, probability, and uncertainty. It was introduced by two psychologists, Daniel Kahneman, and Amos Tversky.

 

3. National Working Plan Code-2023 released for forest scientific management: The Ministry of Environment, Forest & Climate change has released National Working Plan Code-2023 for scientific management of forests and evolving new approaches during the ‘World Day to Combat Desertification and Drought’ organized by the Indian Council of Forestry Research and Education (ICFRE) in Dehradun on 17th June 2023. It will act as a guiding principle for State Forest Departments in preparation for the working plan for different forest divisions.

 

4. The G20 Agriculture Ministerial Meeting (AMM) held in Hyderabad: The G20 Agriculture Ministerial Meeting (AMM) has been held from 15th-17th June in Hyderabad to provide the Agriculture Ministers and delegates from various G20 countries a first-hand experience of ICAR-IIMR (Indian Institute of Millets Research). The meet witnessed an enormous participation of more than 300 people including Hon’ble Agricultural Ministers, various delegates from G20 countries, international organizations and several other dignitaries from India.

 

5. Akashvani and Doordarshan emerge as most trusted electronic media organization in country: According to Reuters Institute’s Digital News Report 2023, DD India and All India Radio have been recognized as the most trusted electronic media organizations in the country.

The report highlights that although overall trust in news has decreased marginally by 3 percentage points, public broadcasters and print brands have managed to maintain a relatively high level of trust among the public. The report said public broadcasters DD India and All India Radio are among those with the highest levels of trust.

 

6. Rajasthan, Gujarat and Tamil Nadu emerge top achievers in Wind Energy: The Ministry of New and Renewable Energy celebrated Global Wind Day in New Delhi. The event aimed to discuss ways to accelerate wind energy adoption in India. The central theme of the celebration was “Pawan – Urja: Powering the Future of India. Rajasthan was felicitated for achieving the highest wind capacity addition, Gujarat for achieving the highest wind capacity addition through open access and Tamil Nadu for initiating repowering of wind turbines.

 

7. Dharmendra Pradhan flags off Gabon’s first Agri-SEZ project: Union Minister of Education and Skill Development and Entrepreneurship Dharmendra Pradhan flagged off Gabon’s first Agri- SEZ project from New Delhi. The project will be implemented by the AOM group with Centurion University as the technical partner. In the first phase of the program, 30 farmers and 20 Engineering students will be traveling together as agri-technical consultants.

 

8. Defence Ministry signs Rs 500 crore contract to strengthen Indian Army’s communication system: The Defence Ministry has signed a contract of 500 crore rupees with an indigenous firm for the supply of Radio Relay Containers to strengthen the Indian Army’s communication system. The contract was signed with ICOMM Tele Limited of Hyderabad for the procurement of more than one thousand Radio Relay Communication equipment containers. The Radio Relay Containers will address a long overdue requirement of mobile communication detachments of the Indian Army. These containers will be utilized to provide a protected environment for communication equipment. The containers would be mounted on authorized specialist vehicles and moved as per operational requirements. This will give a further boost to the indigenous manufacturing of defence equipment and stimulate the private sector to actively engage in realizing the vision of a self-reliant India.

 

INTERNATIONAL UPDATES:

 

1. Embassy of India in Kuwait Joins Hands with UN Habitat for Mission LiFE: Embassy of India in Kuwait, in association with the United Nations (UN) Habitat Office in Kuwait, has organized a Beach Cleaning Event on June 16 to promote environmental awareness and community participation. This part was organized as part of the Mission LiFE (Lifestyle For Environment) initiative of the Government of India, that aims to bring individual behaviors to the forefront of global climate action by promoting a circular economy and mindful utilization.

 

2. NITI Aayog and UN India signed GoI-UNSDCF 2023-2027: NITI Aayog and the United Nations, India has signed the Government of India - United Nations Sustainable Development Cooperation (GoI-UNSDC) Framework 2023-2027. This framework represents the UN development system’s collective offer to the Government of India, in line with the national vision for development, for the achievement of the Sustainable Development Goals, promoting gender equality, youth empowerment and human rights.

 

3. 17 June – World Day to combat desertification and drought: World Day to combat desertification and drought is observed every year on 17 June. Objective – To raise awareness about the threats posed by desertification and drought and promoting efforts to combat these challenges Theme 2023 – Her Land. Her Rights The World Day to Combat Desertification and Drought was established in 1994 as a result of a convention held at the UN General Assembly. This day was observed in 1995 for the first time. In order to combat the environmental deterioration that is being brought upon by climate change, the United Nations Convention to Combat Desertification (UNCCD) was created. The convention’s objective was to educate the general public on ways to stop desertification, particularly in regions that are now suffering from severe drought.

 

OTHER UPDATES:

 

SPORTS

 

1. Egypt won World Squash Championship, after defeating Malaysia: Egypt has retained the World Squash Championship, after beating Malaysia by 2-1 in the final. Malaysia won the silver, and third place (bronze) was shared jointly by hosts India and Japan. India was defeated by Malaysia 3-0 in the semi-final. The championship was held in Chennai, Tamil Nadu with eight countries as participants and was held from June 13 to 17. Egypt won the World Cup when it was last held here in 2011.

 

2. First Women's Kabaddi League Inaugurated in Dubai: The inaugural edition of India's first-ever Women's Kabaddi League (WKL) has been commenced in Dubai on June 16. It marks the first time that women kabaddi players from across India have been given the opportunity to exhibit their skills and prowess on a global stage. This league consists of eight teams, featuring a total of 96 players, each representing Indian states. The victorious team will be awarded a prize of approximately half a million dirhams (1 crore INR).

 

BANKING AND FINANCE

 

1. RBI approves P Vasudevan as MD and CEO of Equitas Small Finance Bank: Reserve Bank of India (RBI) has approved the reappointment of P Vasudevan as Managing Director (MD) and Chief executive officer (CEO) of Equitas Small Finance Bank. He has been reappointed for a period of 3 years, from July 23, 2023, to July 23, 2026. Headquarters of Equitas SFB: Chennai After receiving license from RBI on 30 June 2016, Equitas Small Finance bank began banking on 5 September 2016 and with effect from 4 February 2017, Equitas became a scheduled bank.

 

2. RBI imposed ₹20 lakh monetary penalty on Manappuram Finance: Reserve Bank of India has imposed ₹20 lakh monetary penalty on Manappuram Finance for non-compliance with certain provisions of Non-Banking Financial Company (NBFC). RBI imposed this penalty as it did not classify certain gold loan accounts with overdues of more than 90 days as Non-Performing Assets (NPAs). NBFC: It is a company registered under the Companies Act 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/securities issued.

3. Russia’s Sberbank launches Indian rupee accounts for individuals: Russia’s dominant lender, Sberbank has launched Indian rupee accounts for individuals. Objective – To expand the range of foreign currencies available to reduce dependency on the US dollar and euro. Sberbank has more than 100 million retail clients and already offers deposits in China’s yuan and UAE dirhams. Sberbank will issue bonds in Chinese yuan this year if an opportunity arises and will continue borrowing in roubles to drive portfolio growth.

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.