Daily GK Update- 28th May, 2023

NATIONAL UPDATES:

 

1. PM Narendra Modi inaugurated new Parliament building in New Delhi:  PM Modi inaugurated the new New Delhi Parliament House on May 28, 2023. He has also installed the Sengol with Nandi in the Lok Sabha chamber. About New Parliament: Constructed by: Tata Projects Ltd Three main gates: Gyan Dwar, Shakti Dwar, and Karma Dwar The new building can comfortably seat 888 members in the Lok Sabha chamber and 300 in the Rajya Sabha chamber The new Lok Sabha chamber has a peacock theme and Rajya Sabha's theme is based on National Flower, Lotus

 

2. Odisha govt collaborates with Infosys, Nasscom: The Odisha Government’s Higher Education Department has entered into a Memorandum of Understanding with Infosys Limited and Nasscom to enhance the skills and employability of students in Higher Education Institutions in Odisha. This collaboration aims to provide learning and employment opportunities for students and promote equal access to education for passionate individuals, equipping them for the future. Infosys, in line with its ESG Vision 2030, has set a goal to enable digital skills on a large scale and empower more than 10 million people across India from diverse socioeconomic backgrounds by 2025 through its programme called Infosys Springboard. As part of its corporate social responsibility (CSR) efforts, Infosys Springboard aims to offer a comprehensive virtual platform that provides learning experiences free of charge. The platform is accessible on any device and facilitates close collaboration between educators and learners, catering to students from the 6th grade to lifelong learners. Under this MoU, Nasscom will provide training to 800,000 students through their future skills prime program. The collaboration focuses on developing technical expertise across various disciplines, promoting digital fluency, and delivering industry-curated content. It offers a comprehensive career-building programme that leads to industry-recognized Nasscom certifications.

 

3. NTCA forms new committee to oversee Cheetah project: The National Tiger Conservation Authority (NTCA) set up an 11-member Cheetah Project Steering Committee. Rajesh Gopal, general secretary of the Global Tiger Forum, has been appointed as the chairman of the committee. The committee works under the Ministry of Environment, Forest and Climate Change. The move comes following the death of six cheetahs, including three newborn cubs, within a period of two and half months at Kuno National Park (KNP) in Madhya Pradesh. In the last one week, three cheetah cubs born to the Namibian cheetah allegedly died of dehydration and malnourishment. The decision to form the committee was taken in a meeting with the additional chief secretary of the Madhya Pradesh government. The committee will also take decisions on the opening of the cheetah habitat for eco-tourism and suggest regulations in this regard.

 

4. Mega ‘Yoga Festival’ in Hyderabad: Morarji Desai National Institute of Yoga (MDNIY) under the Union Ministry of AYUSH has organized a mega ‘Yoga Festival’ at NCC Parade Ground, Hyderabad. Telangana Governor Dr. Tamilisai Soundararajan was the chief guest at the Yoga Festival being organized at NCC Parade Ground, Hyderabad. This event was organized 25 days before the Yoga Festival to be held in Jabalpur, Madhya Pradesh on the occasion of ‘International Yoga Day’ on June 21, 2023. Union Minister for Ports, Shipping and Waterways and AYUSH Sarbananda Sonowal announced the theme of International Day of Yoga this year as ‘Yoga for Vasudhaiva Kutumbakam’.

 

5. R Dinesh appointed as CII President for 2023-24: The Confederation of Indian Industry (CII) has elected R Dinesh, the Executive Vice Chairman of TVS Supply Chain Solutions as its President for 2023-24. He takes over from Sanjiv Bajaj, the Chairman and Managing Director of Bajaj Finserv Limited. Rajeev Memani, President, EY India Region, has been appointed as the Vice President of CII.

 

INTERNATIONAL UPDATES:

 

1. Menstrual Hygiene Day 2023: 28th May: Menstrual Hygiene Day is observed annually on May 28 to highlight the importance of good menstrual hygiene and break stigma around menstruation. The theme for 2023 is 'Making menstruation a normal fact of life by 2030. This day was selected because the menstrual cycle averages 28 days in length and people on average menstruate for five days each month. This day was started by Germany-based NGO WASH United in 2013 and it was observed for the first time on May 28, 2014.

 

2. 8th International Conference on Pharma and Medical Device Sector: Union Health Minister, Dr Mansukh Mandaviya has inaugurated the 8th International Conference on Pharma and Medical Device Sector. He unveiled the National Medical Device Policy 2023 and launched the Export Promotion Council for Medical Devices. He also launched a scheme titled ‘Assistance for Medical Devices clusters for Common Facilities (AMD-CF)’. Aim: To establish and strengthen common infrastructure facilities in the medical devices clusters

 

3. Reliance Chairman Mukesh Ambani on Advisory Committee of COP28: Reliance Industries Ltd Chairman, Mukesh Ambani has been named as a member of the international advisory committee that will provide guidance and counsel to the presidency of the 28th session of the Conference of the Parties (COP28), UAE. He is among 31 international experts named on the panel. The panel will inspire collaborative and transformative action across adaptation, mitigation, damage, food, and nature-based solutions.

 

OTHER UPDATES:

 

 

 

BANKING AND FINANCE

 

1. RBI sanctions merger of Maratha Co-op Bank with Cosmos Co-op Bank: RBI has approved the voluntary Scheme of Amalgamation of Maratha Sahakari Bank with The Cosmos Co operative Bank, with effect from May 29, 2023. The central bank had placed Maratha Sahakari Bank under Directions under Section 35 of the Banking Regulation Act, 1949, on August 31, 2016. All the branches of Maratha Sahakari Bank Ltd will function as branches of The Cosmos Co-operative Bank Limited. Maratha Sahakari Bank has seven branches in Mumbai.

 

2. Indian Bank empanelled as a clearing and settlement bank with ICCL: Indian Bank has entered into an agreement with Indian Clearing Corporation Ltd. (ICCL) as its Clearing and Settlement Bank. Indian Bank will now facilitate banking services to members of BSE, Mumbai for clearing and settlement operations. Clearing members can now open settlement accounts with the bank for funds settlement under the equity derivatives segment. The proposal to extend this facility to the members of NSE is under active consideration.

 

3. SEBI sets up intermediary advisory panel: SEBI has formed an Intermediary Advisory Committee to advise the market regulator on changes in the legal framework. The committee will also advise SEBI on increasing transparency in the functioning of market intermediaries like stock exchanges, clearing corporations, etc. Chaired by: Former Sebi executive director S Ravindran. Other members: Ashish Chauhan (CEO of NSE) and Sundararaman Ramamurthy (CEO of BSE), representatives from the broking community, legal, and FI

 

4. India signed agreement with ADB for development of infrastructure in Andhra Pradesh: The Indian government has signed a loan agreement of USD 141.12 million with the Asian Development Bank for the development of infrastructure in three industrial clusters situated in Andhra Pradesh. The loan will be utilized to enhance road networks, water supply systems, and electricity distribution networks, fostering industrialization and job creation in the targeted areas. This financing is the second tranche of the $500 million multi-tranche financing facility (MFF) for the program approved by ADB in 2016 to build infrastructure in three industrial clusters in the Visakhapatnam and Srikalahasthi-Chittoor nodes in the state. By adopting a multi-sectoral approach, ADB financing aims to boost manufacturing, improve competitiveness, and increase the manufacturing sector’s contribution to Andhra Pradesh’s gross domestic product.

 

AWARDS AND HONOURS

 

1. Hrithik Roshan and Alia Bhatt win the award for best actor at IIFA 2023: Hrithik Roshan has bagged the Best Actor award at the International Indian Film Academy Awards (IIFA) 2023 held in Abu Dhabi. He was awarded for his performance in Vikram Vedha. While Alia Bhatt also won the Best Actor (Female) award for Gangubai Kathiawadi.

·       Best Film: Drishyam 2

·       Best Director: R Madhavan (Rocketry: The Nambi Effect)

·       Supporting Role:

·       Best Actor (Female): Mouni Roy (Brahmastra: Part One - Shiva)

·       Best Actor(Male): Anil Kapoor (Jugg Jugg Jeeyo)

 

OBITUARIES

 

1. Writer and literary critic G H Nayak passes away: Writer and literary critic Govindaray H Nayak, who was popularly known as G H Nayak, passed away at 88 due to a heart attack in Mysuru. He won the Kendra Sahitya Academy Award for his work ‘Uttarardha’ in 2014. He was also awarded the Karnataka Sahitya Academy Award for ‘Nirapeksha’ and V M Inamdhar Memorial Award for ‘Nijadani’. He had also been the recipient of the prestigious Pampa Award. His works include Samakaalina and Anivaarya

Daily GK Update- 27th May, 2023

NATIONAL UPDATES:

 

1. PM presides over 8th NITI Aayog Governing Council meeting: The Eighth meeting of the NITI Aayog Governing Council was concluded in New Delhi, presided over by PM Modi as the Chairman of NITI Aayog. Theme: Viksit Bharat @2047: Role of Team India Eight prominent themes were discussed: (i) Viksit Bharat@2047, (ii) Thrust on MSMEs, (iii) Infrastructure and Investments, (iv) Minimising Compliances, (v) Women Empowerment, (vi) Health and Nutrition, (vii) Skill Development, (viii) Gati Shakti for area development and social infrastructure.

 

2. Central government notifies appointment of CJ of Himachal Pradesh HC: The Central government has notified the appointment of Justice MS Ramachandra Rao as the Chief Justice (CJ) of Himachal Pradesh HC. He has succeeded CJ Amjad Sayed, who retired in January 2023. In addition, Justice SV Gangapurwala was appointed as the CJ of Madras HC. Presently, Justice S Vaidyanathan has been serving as the Acting CJ of Madras High Court. Justice Ramesh Dhanuka has been appointed as the Chief Justice of Bombay HC with a tenure of four days.

 

3. R Dinesh appointed as CII President for 2023-24: The National Council of Confederation of Indian Industry (CII) has elected R Dinesh as the president of CII for 2023-24. He is an executive vice-chairman of TVS Supply Chain Solutions. He has replaced Sanjiv Bajaj, the chairman and managing director, Bajaj Finserv Limited. Sanjiv Puri (chairman and managing director of ITC Ltd) has taken over as president-designate of CII for the year 2023-24. Rajiv Memani has taken over as vice-president of CII for the year 2023-24.

 

4. Giriraj Singh launched SAMARTH campaign: The Union Minister for Rural Development, Giriraj Singh has launched the ‘SAMARTH’ Campaign to promote Digital Transactions in 50000 Gram Panchayats’ in Lucknow. This campaign, initiated by the Ministry of Rural Development, aims to promote digital transactions in rural areas, with a particular focus on empowering women. Under the SAMARTH Campaign, the government seeks to foster the adoption of digital transactions in 50,000 Gram Panchayats across India. This initiative aligns with the vision of Prime Minister Narendra Modi’s AzadiKaAmritMahotsav, which commemorates 75 years of India’s independence. The campaign commenced on February 1, 2023, and will continue until August 15, 2023. Minister has lauded the SHG’s NPA, which was reduced from 9.58 % in 2013 to below 2%, and urged banks to recognize and outstanding credit performance of SHG Didis and facilitate loans.

 

5. About National Association of Software and Service Companies (NASSCOM): Goa, Uttarakhand sign MoU to boost tourism Himachal Pradesh signed MoU with the French Development Agency Agence Francaise de Development (AFD) for Rs 817.12 crore project. Kerala government signed MoU with UN Women to boost women-friendly activities in tourism

Nagaland government partnered with Patanjali Foods for palm oil cultivation NTPC REL signs MoU with Tripura for collaboration in Renewable Energy REC signed MoU with UP govt for multiple projects worth Rs 98,853 crore

 

6. PM Modi chairs the 8th meeting of the NITI Aayog Governing Council: Prime Minister Narendra Modi has chaired the eighth governing council meeting of Niti Aayog. The meeting, based on the theme ‘Viksit Bharat @2047: Role of Team India’, was held at the new Convention Centre in Delhi’s Pragati Maidan. The prime minister deliberated on issues related to health, skill development, women empowerment, and infrastructure development, with the aim of making India a developed nation by 2047. Eight prominent themes were discussed during the day-long meeting including

 

7. Dream 11 CEO Harsh Jain appointed new chairman of IAMAI: CEO of online gaming platform ‘Dream11’, Harsh Jain has been appointed as the new chairman of ‘Internet and Mobile Association of India’ (IAMAI) for two years (2023-2025). He replaces Sanjay Gupta, vice president and country manager of Google India. A new 24-member governing council and a new executive council will take charge at the upcoming annual general meeting of IAMAI, which represents top technology companies. The IAMAI governing council election is held every two years. As many as 83 IAMAI members contested the elections this year, after the end of the two-year tenure of the previous council.

 

8. Suman Sharma sworn in as member of UPSC: Senior bureaucrat Suman Sharma was sworn in as a member of the Union Public Service Commission (UPSC). Sharma is a 1990-batch Indian Revenue Service (Income Tax) officer. UPSC Chairman Manoj Soni administered the oath of office and secrecy to the newly appointed member. The Commission is headed by a chairman and it can have a maximum of 10 members. With her appointment, there exists a vacancy of five members. A UPSC member is appointed for a term of six years or until attaining 65 years of age. The UPSC conducts civil services examinations to select officers of Indian Administrative Service (IAS), Indian Foreign Service (IFS) and Indian Police Service (IPS) among others.

 

INTERNATIONAL UPDATES:

 

1. India-Saudi Arabia conducted bilateral maritime exercise: Indian Navy and Royal Saudi Naval Force (RSNF) concluded the sea phase of the second edition of bilateral exercise 'Al Mohed Al Hindi 23', which was held in Al Jubail, Saudi Arabia from 23 - 25 May 2023. Indian Navy participated with the INS Tarkash, INS Subhadra, and Dornier Maritime Patrol aircraft (MPA). The RSNF was represented by HMS Badr and Abdul Aziz, MH 60R helo, and UAV. The exercise culminated with debrief at sea followed by a traditional steam past.

 

2. Nepal celebrates Bhoto Jatra: Nepal celebrates Bhoto Jatra which is a public holiday in Kathmandu Valley. It is a part of Rato Machhindranath Jatra which is a month-long chariot procession. It originates at Pulchok where chariot made of wood without use of iron nail is created and the procession ends at Jwalakhel. In Bhoto Jatra a “lost & found” bejeweled Nepali vest “bhoto” of Rato Machchindranath is displayed to the public to find its “rightful owner” in accordance with the legend and as per tradition.

 

OTHER UPDATES:

 

SPORTS

 

1. Magnus Carlsen won Superbet Rapid and Blitz Poland 2023: Norwegian chess GM, Magnus Carlsen has won the Superbet Rapid and Blitz Poland 2023, held at the Museum of the History of Polish Jews in Warsaw, Poland. He finished with a score of 24/36 and won the cash prize of $40,000. Jan-Krzyzstof Duda (Polish), who placed second ended with 23/36. While the USA’s Wesley So and France’s Maxime Vachier-Lagrave finished in a tie for third. The 2023 Gr

 

BANKING AND FINANCE

 

1. Karnataka Bank appoints Srikrishnan Hari Hara Sarma as MD & CEO: Karnataka Bank has appointed Srikrishnan Harihara Sarma as the new managing director and chief executive officer of the bank for three years. The appointment is subject to the approval of shareholders at the ensuing AGM or within a period of 3 months from the date of assuming charge whichever is earlier. His expertise and leadership would drive the bank toward continued growth and success. He has worked at HDFC Bank Limited, Yes Bank, and Jio Payments Bank.

 

2. PhonePe becomes first payment app to link 2 Lakh RuPay Credit Cards to UPI: PhonePe has become the first digital payments app to successfully enable the linkage of two lakh RuPay credit cards to the Unified Payments Interface (UPI). Besides, it has also processed a total payment value (TPV) of Rs 150 crore via RuPay credit on UPI. PhonePe offers a comprehensive suite of solutions for RuPay Credit on UPI in partnership with NPCI. It has already enabled the acceptance of RuPay Credit Cards on UPI across 12 million merchant outlets.

 

3. Equitas SFB collaborates with IBM for digital banking platform: Equitas Small Finance Bank has signed an agreement with International Business Machines (IBM) to design and build a digital banking platform. Aim: To provide a secure experience to customers The collaboration will boost the digital products offered by Equitas as well as its service offerings, as it evolves its business for a digital-first generation. Equitas SFB aims to commence its modernization journey with a cloud-native platform architecture.

 

4. RBI imposes Rs 84.50 lakh penalty on Central Bank of India: The RBI has imposed a penalty of Rs 84.50 lakh on the Central Bank of India for non-compliance with norms related to fraud classification and reporting The RBI had conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2021. The reports revealed that the bank had failed to report as fraud to RBI certain accounts within seven days of the decision of the JLF to declare the accounts as fraud.

 

5. HDFC Bank partners Manipal Global to build up a talent pipeline: DFC Bank has partnered with Manipal Global Academy of BFSI to launch its Future Banker 2.0 programme to groom young graduates into banking professionals within a year. The nationwide recruitment initiative seeks to establish a talent pipeline for the bank’s retail banking division to man its expanded network post-Merger. The one-year professional diploma, offered in collaboration with Manipal Global Academy of BFSI, incorporates classroom sessions, guest lectures, group discussions, role plays, and practical fieldwork. The programme includes eight months of paid internship and on-the-job training at HDFC Bank branches nationwide. The internship will facilitate hands-on exposure to banking products, compliance frameworks, and day-to-day operations.

 

AWARDS AND HONOURS

 

1. Three Indian peacekeepers honored with Dag Hammarskjold Medal: Three Indians have been honored posthumously with the Dag Hammarskjold Medal. India's Permanent Representative at UN Ambassador Ruchira Kamboj has received the medal in honor of three Indian peacekeepers who lost their lives in the line of duty in 2022 BSF Head Constables Shishupal Singh and Sanwala Ram Vishnoi have served with the Organisation Stabilisation Mission in the Democratic Republic of the Congo While Shaber Taher Ali served in a civilian capacity with UNAMI

Daily GK Update- 26th May, 2023

NATIONAL UPDATES:

 

1. The founder of start-up Dream11, Harsh Jain elected IAMAI chairperson: Harsh Jain, co-founder, and CEO of Dream Sports, has been elected the chairman of the Internet and Mobile Association of India (IAMAI) for 2023-25. He has replaced Sanjay Gupta, vice president, and country manager of Google India. Rajesh Magow (co-founder and group CEO of MakeMyTrip) was elected as vice chairman, while Satyan Ganjwani (vice chairman of Times Internet) as the treasurer of the association. The IAMAI governing council election is held every two years.

 

2. Union Minister Giriraj Singh launches SAMARTH campaign: The Union Minister for Rural Development, Giriraj Singh has launched the ‘SAMARTH' Campaign on promote Digital Transactions in 50000 Gram Panchayats' in Lucknow. Implemented by: Ministry of Rural Development Aim: To promote Digital Transactions in rural areas, focusing on women Minister has lauded the SHG’s NPA, which was reduced from 9.58 % in 2013 to below 2%, and urged banks to recognize and outstanding credit performance of SHG Didis and facilitate loans.

 

3. Exemption for leave encashment raised to ₹25 lakh: The Central Board of Direct Taxes has raised the tax exemption on leave encashment on the retirement of non-government salaried employees from ₹3 lakh to ₹25 lakh, effective from 1 April 2023. It was announced in the union budget 2023. It applies to the period of earned leave in the credit of the employee at the time of retirement whether on superannuation or otherwise. In the case of government employees, the entire leave encashment amount received is tax-exempt.

 

4. Goa, Uttarakhand signed MoU to Strengthen Tourism Cooperation: The officials of the Government of Goa and the Government of Uttarakhand have signed an MoU for enhancing the tourism landscape of both states. The MoU was signed in the presence of Rohan Khaunte (Minister for Tourism, Goa) and Pushkar Singh Dhami (CM of Uttarakhand). Aim: To promote bilateral cooperation in the travel and tourism sector The signing of this MoU is also aligned with the ‘Dekho Apna Desh’ initiative launched by PM Narendra Modi.

 

5. India to have new supercomputer for weather forecasting: During the visit to the National Centre for Medium-Range Weather Forecasting, Union Earth Sciences Minister Kiren Rijiju informed that India will unveil its new 18 petaflop supercomputer for weather forecasting institutes by the end of 2023. The new supercomputer will be bought at a cost of Rs 900 crore. NCMRWF will be allocated eight petaflop supercomputing power with the remaining 10 petaflops going to IITM The NCMRWF houses 'Mihir', a 2.8 petaflop supercomputer

 

6. Ayush Minister inaugurates PCIM&H ‘e-office’ and online portal: Union Minister for AYUSH Sarbananda Sonowal has inaugurated the “PCIM&H e-Office Portal” and an online portal. The objective of the online portal is to facilitate easy access of Pharmacopoeia Monographs to stakeholders across the globe. PCIM&H, under the Ministry of AYUSH, is actively involved in the standardization and quality control of Ayurveda, Siddha, Unani, and Homeopathic (ASU&H) drugs, and publishes standards in the form of Pharmacopoeia.

 

INTERNATIONAL UPDATES:

 

1. Nepal celebrates Bhoto Jatra: Nepal celebrates Bhoto Jatra which is a public holiday in Kathmandu Valley. This celebration is a part of Rato Machhindranath Jatra which is a month-long chariot procession. It originates at Pulchok where a chariot made of wood without the use of iron nails is created and the procession ends at Jwalakhel. In Bhoto Jatra, a "lost & found" bejeweled Nepali vest "bhoto" of Rato Machchindranath is displayed to the public to find its "rightful owner".

 

2. Iran successfully launched ballistic missile 'Kheibar: Iran has successfully test-launched a ballistic missile with a range of around 2,000-km The liquid-fuel missile had been named the Kheibar, the latest version of the Khorramshahr. The missiles are capable of carrying 1,500 kg of warheads. The speed of the high-mobility tactical missile can reach Mach 16 outside the atmosphere and Mach 8 inside the atmosphere. Iran capital: Tehran; Currency: Iranian Rial

 

3. AI supercomputer 'AIRAWAT' ranked 75th in Global Supercomputing list: India's AI supercomputer 'AIRAWAT' has secured the 75th position in the prestigious Top 500 Global Supercomputing List. The announcement was made during the 61st edition of the International Supercomputing Conference (ISC 2023) held in Germany. Airawat PSAI, stands as India’s largest and fastest AI supercomputing system, with a remarkable speed of 13,170 teraflops (Rpeak) Other Indian supercomputers: PARAM Siddhi-AI (131), Pratyush (169), and Mihir (316)

 

4. World Meteorological Congress approves Global Greenhouse Gas Watch: The World Meteorological Congress has approved a new greenhouse gas monitoring initiative to support urgent action to reduce heat-trapping gases which are fuelling temperature increase. Aim: To fill critical information gaps and provide an integrated, operational framework The framework will bring all space-based and surface-based observing systems, as well as modeling and data assimilation capabilities, under one roof. It was supported by the WMO’s 193 Members.

 

5. Sydney’s Harris Park renamed as ‘Little India’: Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese officially named Sydney’s Harris Park area in Parramatta as ‘Little India’ during a special community event for the Indian diaspora. Harris Park is a hub in Western Sydney where the Indian community celebrates festivals and events such as Diwali and Australia Day. Harris Park is home to a large Indian community and is well-established as a unique destination for Indian cuisine, and Indian-owned businesses.

 

6. The Hanke’s Annual Misery Index (HAMI) 2022: India ranked 103: Zimbabwe has been ranked ‘most miserable country’ in the Hanke’s Annual Misery Index (HAMI) 2022. The country’s staggering level of misery has been attributed to the policies implemented by President Emmerson Mnangagwa, representing the ZANU-PF party. According to the index, Zimbabwe experienced a skyrocketing inflation rate of 243.8 percent in the previous year. India is placed at the 103rd spot, with unemployment identified as the primary contributing factor to the country’s relative level of misery. Among the 157 countries analyzed, Switzerland emerged as the least miserable, occupying the top position (157) on the list. Grappling with economic and political challenges, Pakistan secured the 35th position on the list of the world’s most miserable countries. Inflation was identified as the primary contributing factor to Pakistan’s placement in the index. Economist Steve Hanke’s index provided rankings for a total of 157 countries. The index is the sum of the year-end unemployment, inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita. Among the countries ranked, Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana emerged as the 15 most miserable countries worldwide. Finland, constantly ranked as the world’s happiest country for six consecutive years according to the World Happiness Report, secured the 109th position on the misery index. The United States fared relatively well on the misery index, ranking among the least miserable countries at 134. Other countries with the least misery levels include Kuwait (156), Ireland (155), Japan (154), Malaysia (153), Taiwan (152), Niger (151), Thailand (150), Togo (149), and Malta (148).

 

7. K Govindraj elected as President of  FIBA: K. Govindaraj has been elected as the President of the International Basketball Federation (FIBA) Asia. He replaced Qatar’s Sheikh Saud Ali Al Thani, who served as head of FIBA Asia since 2002. Govindaraj is the first Indian to be unanimously nominated as the President of FIBA Asia. He is a Congress MLC and holds the position of President of the International Basketball Federation (FIBA) Asia and President of Karnataka Olympic Association.

 

8. Rayyanah Barnawi, the first Arab woman astronaut to go to space: Part of Axiom Space’s private mission to the International Space Station (ISS), Rayyanah Barnawi became the first Arab woman astronaut to go into space. Barwani is part of a team which has travelled to the ISS in a SpaceX Falcon 9 rocket from the Kennedy Space Center at Cape Canaveral in the southern state of Florida. The group — also including Peggy Whitson, a former NASA astronaut who will be making her fourth flight to the ISS, and John Shoffner, a businessman from Tennessee — will stay aboard the space station for around eight days to carry out a variety of experiments.

 

OTHER UPDATES:

 

SPORTS

 

1. Murali Sreeshankar won gold at International Jumping Meeting in Greece: Indian Long jumper Murali Sreeshankar won gold while compatriot Jeswin Aldrin finished bagged silver at the International Jumping Meeting 2023 at Kallithea in Greece. Kerala’s Murali Sreesankar won the gold medal in the International Jumping Meet with a jump of 8.31 metres. Sreeshankar, who has played in the Tokyo Olympics, holds the national record of 8.36 metres. Sweden’s Tobias Montaller won the silver with a jump of 8.27m, while France’s Jules Pommery won the bronze. Jeswin Aldrin claimed silver with an effort of 7.85m.

 

2. Sania Mirza appointed as the Tennis Ambassador for Sony Sports Network: Leading sports broadcaster Sony Sports Network has announced the exclusive onboarding Sania Mirza as the Tennis Ambassador for Sony Sports Network. Sony Sports Network has also launched a campaign called Home of Tennis. The campaign showcases Mirza, Sony Sports Network, and the three Grand Slams as a match made in heaven and celebrates her journey as she dons the hat of an expert after retiring from playing tennis. The first film talks about Mirza exclusively partnering with Sony Sports Network. The second film is Mirza presenting Roland Garros, Clay that Slays, to Indian audiences. The third film will showcase Sony Sports Network as the Home to Tennis with all three Grand Slams – Australian Open, Roland Garros and US Open, presented by the Tennis Ace. The fourth film with Mirza will be a teaser for the US Open, which is a Glam Slam and will launch in August. Having won six Grand Slam titles across Australian Open (2), US Open (2), Roland Garros (1) & Wimbledon (1), including three women’s doubles titles and three mixed doubles titles, she is one of the most successful tennis players in Indian history.

 

BANKING AND FINANCE

 

1. ADB, India signed agreement for development of infrastructure in Andhra: The Indian government has signed a loan agreement of USD 141.12 million with the Asian Development Bank for the development of infrastructure in three industrial clusters situated in Andhra Pradesh. This financing is the second tranche of the 500 million multi-tranche financing facility.

Aim: To promote industrialization to increase the share of manufacturing in the state’s gross domestic product, build competitiveness and create jobs in the project's target areas

 

2. Bank of Maharashtra tops PSU lenders chart in profit and loan growth: Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23. BoM has also recorded the highest growth in profitability with the bottom line growing almost 126% to Rs 2,602 crore during the year. In terms of percentage increase in gross advances, BoM recorded a 29.4% rise in loans at Rs 1,75,120 crore as of March 2023. It was followed by Indian Overseas Bank and UCO Bank.

 

3. HDFC Bank partners Manipal Global to build up a talent pipeline: HDFC Bank has partnered with Manipal Global Academy of BFSI to launch its Future Banker 2.0 programme. Aim: To groom young graduates into banking professionals within a year The nationwide recruitment initiative seeks to establish a talent pipeline for the bank's retail banking division. The one-year professional diploma incorporates classroom sessions, guest lectures, role plays, and practical fieldwork. It also includes eight months of paid internship.

4. Centre approves digital communication system between banks and CEIB: The Central govt has cleared a prompt digital reporting and communication mechanism between banks and Central Economic Intelligence Bureau (CEIB) to plug defaults on loans of over Rs 50 crore. CEIB will send a report digitally regarding borrowers to the PSU banks for a loan amount of Rs 50 crore or higher at the pre-approval stage within 15 days of request. The new system will require banks to submit their requests to CEIB through dedicated emails in a specific format

 

AWARDS AND HONOURS

 

1. Actor Sonu Sood Receives Honoris Causa at Apex University’s Jaipur: Sonu Sood, the acclaimed actor and philanthropist, was the centre of attention at the 1st Convocation Ceremony of Apex University Jaipur, where he received the esteemed Honoris Causa for his noble work. The event held at the Apex University campus in Jaipur was a momentous occasion as graduates from various academic programmes received their degrees, diplomas, and certificates. The Honoris Causa, a prestigious award, was bestowed upon Sonu Sood by Apex University Jaipur in recognition of his exceptional contributions to society. Sonu Sood’s tireless efforts during the COVID-19 pandemic have garnered him nationwide recognition as a true humanitarian.

 

OBITUARIES

 

1. Industrialist and philanthropist Karumuttu T Kannan passes away: Karumuttu T Kannan, a prominent industrialist, and philanthropist, passed away. He was the Chairman & Managing Director of Thiagarajar Mills Ltd. Kannan held significant positions such as Chairman of the Textiles Committee in Mumbai, and The South India Mills’ Association. Kannan held the distinguished role of Thakkar of Arulmigu Meenakshi Sundareswarar Thirukoil in Madurai.

Daily GK Update- 25th May, 2023

NATIONAL UPDATES:

 

1. Government unveils UDAN 5.1 to enhance connectivity to remote areas: The Ministry of Civil Aviation has launched the 5.1 version of the Regional Connectivity Scheme (RCS) - Ude Desh Ka Aam Nagrik (UDAN) to further enhance connectivity to remote areas of the country and achieve last-mile connectivity through helicopters. For the first time under RCS-UDAN, this round is designed specifically for helicopter routes. Airfare caps have been reduced by as much as 25% to make flying in helicopters more affordable for passengers.

 

2. Molbio, IISc spin-off collaborate on diagnostic test for sickle cell: Molbio Diagnostics and ShanMukha Innovations have collaborated to design, develop and commercialize point-of-care diagnostic devices, SickleCert. Aim: To diagnose hemoglobin-related diseases. ShanMukha Innovations is an IISc spin-off that specializes in creating mobile diagnostic solutions. SickleCert is a first-of-its-kind indigenous point-of-care confirmatory test in the country for quantitative detection and differentiation of sickle cell disease/trait.

 

3. IIT Madras launched 15 Centres of Excellence: Indian Institute of Technology Madras (IIT Madras) has launched 15 Centres of Excellence (CoE) as part of the ‘Institute of Eminence’ (IoE) Scheme on 24th May 2023. Aim: To develop next-generation technologies and create a significant impact The IoE Scheme was launched by the Government of India to empower Higher Educational Institutions to become world-class teaching and research institutions. IIT Madras, one of the pre-eminent institutions in India, was chosen in 2019

 

4. Odisha govt collaborates with Infosys, Nasscom: The Odisha Govt’s Higher Education Department has signed an MoU with Infosys and Nasscom to enhance the skills and employability of students in Higher Education Institutions. Aim: To provide learning and employment opportunities for students and promote equal access to education for passionate individuals Infosys has set a goal to enable digital skills on a large scale and empower more than 10 million people across India through its program, Infosys Springboard.

 

5. Justice S Vaidyanathan appointed as Acting Chief Justice of Madras HC: The President of India has named Justice S Vaidyanathan, the seniormost judge of the Madras high court, as the acting Chief Justice of the Madras high court, with effect from 25.05.2023. He has succeeded the acting Chief Justice of the Madras HC, Justice T Raja, who retired. He served as an editor of Labour Law Books published by the Madras Book Agency He was elevated as an additional high court judge on October 25, 2013, and became a permanent judge on April 14, 2015

 

6. Kerala to be the first fully e-governed state: Kerala is set to declare itself India’s first “total e-governed state”. The achievement has been realized through a set of policy initiatives of the government seeking to transform the state into a digitally-empowered society. The delivery of all vital services has already been digitized, covering all key domains including health, education, land revenue, documentation of properties, public distribution system and social security payouts. Besides digitizing the delivery of government services to the people by making them transparent and inclusive, total e-governance will also ensure inclusion of all sections of society, including the less privileged and marginalized. The achievement enables online delivery of the whole range of government services by leveraging state-of-the-art technology and platforms. The government has built a single-window service-delivery mechanism called e-Sevanam, which integrates more than 800 government services online.

 

7. PM Modi flagged off Uttarakhand’s first Vande Bharat Express: Prime Minister Narendra Modi has virtually inaugurated the Delhi (Anand Vihar)-Dehradun Vande Bharat Express. This is the first Vande Bharat to be introduced in Uttarakhand The train will cover a distance of 302 km in 4 hours and 45 minutes. The train will run all days of the week except Wednesday. Earlier, PM Modi flagged off the Vande Bharat Express between Puri and Howrah.

 

8. Mukundan appoints as MD & CEO of Tata Chemical Board: Tata Chemicals’ board has re-appointed R Mukundan as MD & CEO for a further term of five years, with effect from 26 November 2023. The re-appointment of Mr. R. Mukundan was based on the recommendation of the Nomination and Remuneration Committee. It is one of the largest chemical companies in India with operations in India.

 

INTERNATIONAL UPDATES:

 

1. Tata Group only Indian firm in BCG list of top 50 most innovative firms: Tata Group is the only Indian company to feature in the Top 50 innovative companies 2023 list, released by Boston Consulting Group (BCG). Tata Group ranked 20 among the Top 50 innovative companies. Top 10: Apple, Tesla, Amazon, Alphabet, Microsoft, Moderna, Samsung, Huawei, BYD, and Siemens BCG's list parameters: Superior performance, higher resilience to shocks and disruptions, and the ability to exploit innovation faster for value-creating growth, among other things

 

2. State and Trends of Carbon Pricing 2023 report: According to the World Bank’s annual “State and Trends of Carbon Pricing” report, revenues from carbon taxes and Emissions Trading Systems (ETS) have reached a record high, about $95 billion. This is despite the challenging context for governments facing high inflation, fiscal pressures, and energy crises. Several countries are using a price on carbon emissions to help meet their climate goals in the form of a tax and Emissions Trading System (ETS).

 

3. Bangladesh-US joint naval exercise begins in Chattogram: The Joint Bangladesh-US Naval drill Exercise ‘Tiger Shark 40’ has started at BNS Nirvik in Chattogram. Aim: To increase the strategic capabilities of both countries and to acquire mutual technical and procedural knowledge It is being undertaken to improve the existing good relations between the armed forces of the two countries. Bangladesh Army and Navy and US Special Forces participated in this training exercise held under the management of Commodore Swords Command.

 

4. Indian Railways hands over 20 Broad Gauge Locomotives to Bangladesh: The Indian Railways handed over 20 Broad Gauge locomotives to Bangladesh as part of a grant assistance program. The initiative is aimed at meeting the growing demand for passenger and freight traffic between the two neighboring countries. The handing over of these locomotives fulfills an important commitment made during the visit of Bangladesh’s Prime Minister Sheikh Hasina to India in October 2019. Currently, there are nine interchanges between India and Bangladesh, of which five are already operational and two are under construction.

 

5. India and Australia sign Migration and Mobility Partnership Agreement: India and Australia have signed agreements in the field of mobility and migration with a view to encouraging the orderly movement of students, researchers, professionals, academics, and others. The new India-Australia Migration and Mobility Partnership Agreement (MMPA) has been specifically created for India and will ‘promote the two-way mobility of students, graduates, academic researchers, and business people’. The agreement will help further facilitate the mobility provision of students, professionals, researchers, academics, and others, including through a new skilled pathway named MATES (Mobility Arrangement for Talented Early Professionals Scheme) specifically created for India. Prime Minister Albanese announced the establishment of a new Australian Consulate General in Bengaluru to link Australian businesses to India’s digital and innovation ecosystem.

 

6. Ireland become first country to introduce health warnings on alcohol: Ireland will introduce mandatory health labelling of alcoholic drinks, warning of the links to cancer, liver disease and the risk of drinking while pregnant. The new regulations, signed into law by health minister Stephen Donnelly on Monday, will take effect in three years to give businesses time to prepare for the change. It will also alert consumers to the calorie and alcohol content. This law is designed to give all of us as consumers a better understanding of the alcohol content and health risks associated with consuming alcohol. The warnings will provide concise information about the health hazards linked to excessive alcohol consumption, encouraging individuals to make informed decisions. Health warnings include liver disease, heart problems, increased risk of cancer, mental health problems and other associated risks.

 

7. 25 May – International Missing Children’s Day: International Missing Children’s Day is an awareness event that is observed every year on 25^th The aims of the day are to place a spotlight on the issue of child abduction, educate parents on safeguarding measures to protect their children and also honour those who have never been found and celebrate those who have. Missing Children’s Day began as an observance in the USA in 1983. The date was chosen following the disappearance of 6-year-old Etan Patz on 25th May 1979 from New York City. According to the Polly Klaas Foundation, 99.8 percent of children reported missing come home.

8. 25 May – World Thyroid Day: World Thyroid Day is observed every year on 25 May. Objective – To educate people on thyroid diseases and be aware of the symptoms World Thyroid Day was first observed in 2007 by the members of the Thyroid Federation International. This global healthcare day was created to honour European Thyroid Association (ETA) which was formed in the year 1965. The day is dedicated to people suffering from thyroid disorders and the researchers who are committed to the study and treatment of thyroid diseases worldwide. What is thyroid disease? Thyroid disease is a general term for a medical condition that keeps your thyroid from making the right amount of hormones. Your thyroid typically makes hormones that keep your body functioning normally. When the thyroid makes too much thyroid hormone, your body uses energy too quickly. This is called hyperthyroidism. Using energy too quickly will do more than make you tired — it can make your heart beat faster, cause you to lose weight without trying and even make you feel nervous.

 

OTHER UPDATES:

 

SPORTS

 

1. Murali Sreeshankar wins gold at International Jumping Meeting, Greece: India’s long jumper, Murali Sreeshankar has successfully defended his title in the men’s long jump event at the 13th International Jumping Meeting 2023 in Kallithea, Greece. He registered his season-best jump of 8.18m to beat his compatriot. This was Murali Sreeshankar’s third competition of the year and also the third gold medal. While Jeswin Aldrin has claimed silver with an effort of 7.85m. Jalen Rucker of Australia won bronze for a 7.80m effort in the 12-man field.

 

2. PM Modi to inaugurate third Khelo India University games in Lucknow: PM Modi will inaugurate the third Khelo India University Games 2022 via video conferencing on May 25, 2023. The event will be attended by Union Sports Minister Anurag Singh Thakur and UP CM Yogi Adityanath. The events related to the university games have already started on May 23 in the Gautam Budh Nagar district. Event locations: Varanasi, Gorakhpur, Lucknow, and Gautam Buddha Nagar Mascot: Jitu, which represents Swamp Deer (Barasingha) - the state animal of UP

 

BANKING AND FINANCE

 

1. Axis Bank launches a digital onboarding platform ‘Sarathi’: Axis Bank has launched ‘Sarathi’ a digital onboarding journey to enable Electronic Data Capture or Point of Sale (POS) for merchants. This platform provides a seamless and hassle-free experience for merchants. Onboarding process: Realtime database checks for faster application processing Live video verification to authenticate merchant information Eliminates the field verification process which helps in instant decision-making Instant installation of POS

 

2. SBI General unveils 'Surety Bond Bima' for infrastructure projects: SBI General Insurance has launched the General Surety Bond Bima (Conditional & Unconditional) insurance product. Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insulate the contractor as well as the principal (contract awarding authority). Aim: To provide protection against breach of terms and conditions by the contractors either during the bidding stage or during the performance stage of a project

 

3. India’s GDP crossed $3.5 trillion in 2022: Moody’s report: According to Moody’s Report 2023, India’s GDP has crossed USD 3.5 trillion in 2022 and is predicted to continue to be the fastest-growing G20 economy over the next few years. Moody’s has warned that reform and policy barriers could hamper investment in India. In a research report, the US-based agency said that bureaucracy could slow approval processes in obtaining licences and setting up businesses, prolonging project gestation. India’s higher bureaucracy in decision-making will reduce its attractiveness as a destination for foreign direct investment (FDI), especially when competing with other developing economies in the region, such as Indonesia and Vietnam.

 

4. Kotak Mutual Fund launches Nifty 200 Momentum30 Index Fund: Kotak Mahindra Asset Management Company has launched the Kotak Nifty 200 Momentum 30 Index Fund, an open-ended scheme. The new fund aims to track the performance of the top 30 companies within the Nifty 200, selected based on their Normalized Momentum Score. The new fund offer (NFO) for this scheme will open on May 25 and will close on June 8, 2023 This Normalized Momentum Score is determined by 6-month and 12-month price returns, adjusted for volatility. This selection offers investors exposure to momentum stocks across market capitalizations and diverse sectors.

 

5. YES Bank collaborates with IIT Kanpur to offer support to Incubated Startups: The Startup Incubation and Innovation Centre (SIIC) at the IIT Kanpur joined hands with YES Bank by signing an MoU that seeks to provide crucial support to the startups incubated at SIIC. Under the terms of the MoU, SIIC and YES Bank will collaborate closely to identify innovative startups and extend them the necessary financial backing. This strategic partnership aims to bolster the startup ecosystem in India by granting these ventures access to a wide range of resources through YES Bank’s specialized startup-focused program called YES Head Startup.

 

AWARDS AND HONOURS

 

1. Bulgarian writer Georgi Gospodinov wins International Booker Prize for ‘Time Shelter’: Bulgarian writer Georgi Gospodinov and translator Angela Rodel were named winners of the International Booker Prize with the novel “Time Shelter” – a first for a book in Bulgarian. The prestigious award recognizes works of fiction from around the world that have been translated into English and the £50,000 ($62,000) prize is split equally between the author and the translator. The winning novel focuses on a “clinic for the past” that offers experimental Alzheimer’s treatment. It is a novel that invites reflection and vigilance as much as it moves us, because the language — sensitive and precise — manages to capture, in a Proustian vein, the extreme fragility of the past.

 

OBITUARIES

 

1. Legendary singer Tina Turner passes away: Tina Turner, the pioneering rock’n’roll star who became a pop behemoth in the 1980s, has died aged 83 after a long illness. She started her career with Ike Turner's Kings of Rhythm in 1957. Under the name Little Ann, she appeared on her first record, "Boxtop", in 1958. She received 12 Grammy Awards, including eight competitive awards, three Grammy Hall of Fame awards, and Lifetime Achievement Award. She was the first black artist and woman on the cover of Rolling Stone.