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.

Daily GK Update- 24th May, 2023

NATIONAL UPDATES:

 

1. Govt to cut FAME-II subsidy on electric 2-wheelers from June 2023: The Heavy Industries Ministry notified that the government would reduce the subsidy provided under the FAME-II scheme applicable to electric two-wheelers registered on or after June 1, 2023. The subsidy for electric two-wheelers would be reduced to ₹10,000 per kilowatt hour (kWh). The cap on incentives for electric two-wheelers will be 15% of the ex-factory price of vehicles from 40% (present). FAME India Scheme is a part of the National Electric Mobility Mission Plan

 

2. Kilo-class submarine INS Sindhuratna reaches India: A Sindhughosh class submarine, INS Sindhuratna has been returned to Mumbai (India) after undergoing a major refit at Naval Dockyard in Russia, after sailing for 97 days. The ship returned passage through the Norwegian Sea, English Channel, and the Mediterranean Sea. It had gone for an upgrade in Severodvinsk after a major accident in February 2014. INS Sindhuratna is a Russian Type 877EKM diesel-electric submarine. It is popularly called a NATO-defined Kilo-class sub.

 

3. Sourav Ganguly appointed brand ambassador of Tripura tourism: Tripura Chief Minister Manik Saha has appointed former BCCI president Sourav Ganguly as the brand ambassador of Tripura tourism. This appointment would help to attract more visitors to Tripura and boost the tourism industry. Tripura is a state in Northeast India, bordered by Assam and Mizoram to the east and by Bangladesh to the north, south, and west. Tripura is divided into 8 districts and 23 sub-divisions. Capital of Tripura: Agartala

 

4. Maharashtra govt launches new portal ‘Shasan Aplya Dari’: Maharashtra Chief Minister Eknath Shinde has launched the ‘Shasan Aplya Dari’ (government at your doorstep) initiative with an aim to provide benefits of government schemes at one place. With an aim to make government schemes available at the doorstep of the common man, the state government will now use a new portal called ‘Mahalabharthi, where all the state schemes will be enlisted. The objective of ‘Shasan Aplya dari’ is to take the government schemes to the doorstep of the common people so that they can take benefits of various schemes without any hassle. A dedicated cell has been set up in the CM’s office for the initiative and 15,146 volunteers have been appointed for the same across the state.

 

5. Jayakumar S. Pillai appoints as Deputy MD of IDBI Bank: The Board of Directors of IDBI Bank approved the appointment of Jayakumar S. Pillai as Deputy Managing Director on the Bank’s Board for 3 years. Pillai’s appointment is with effect from the date of his taking charge as specified in the RBI approval received in this regard. Pillai is presently working as Chief General Manager and Circle Head in Canara Bank, Mumbai. Jayakumar S. Pillai has 32 years and 7 months of experience in Canara Bank. He has headed branches in various scales across different geographies and has rich experience in branch banking, mobilization of retail resources, Credit delivery in sectors like Retail, Agriculture, MSME and Recovery.

6. Jayaprakash re-elected as President of Swimming Federation: Jayaprakash and Monal D Chokshi were re-elected as President and Secretary of the Swimming Federation of India (SFI). The SFI will focus on developing grassroots participation in swimming by holding camps and coaches’ clinics at the State-level. SFI plans to propose to four states to set up an academy for a year-long camp where foreign coaches will be brought in.

 

INTERNATIONAL UPDATES:

 

1. India and Australia sign agreement in the field of Green Hydrogen: During the final leg of PM Modi's three-nation tour (Japan, Papua New Guinea, and Australia), he was accorded a Ceremonial Guard of Honour at the Admiralty House in Sydney, Australia. During his visit, India and Australia signed agreements in the field of migration and mobility partnership and on the Green Hydrogen task force. The MoUs were exchanged after a bilateral meeting between PM Narendra Modi and his Australian counterpart Anthony Albanese.

 

2. WHO appoints Renée Fleming and Pretty Yende ad Goodwill Ambassadors: The World Health Organization (WHO) has appointed Renée Fleming and Pretty Yende as the Goodwill Ambassadors for Arts and Health. Renée Fleming is one of the most celebrated singers and Pretty Yende is an extraordinary soprano known for her dazzling performances. They would join other distinguished WHO Goodwill Ambassadors such as Alisson, Natalia Becker, Didier Drogba, Michael Bloomberg, Cynthia Germanotta, Gordon Brown, and James Chau, among others.

 

3. Commonwealth Day 2023: 24th May: Commonwealth Day is celebrated every year on March 13, across the world, while India and some other countries observe it on May 24 2023 theme: Forging a Sustainable and Peaceful Common Future Aim: To unite 2.5 billion Commonwealth citizens in celebration of their shared values and principles and pursue a common future, centered on sustainability and peace It serves as an opportunity to raise awareness of the accomplishments of 54 Commonwealth countries in various areas

 

4. India to open new consulate in Brisbane: India has announced plans to open its fourth consulate in Australia in Brisbane, the capital of Queensland state. The announcement was made by Prime Minister Narendra Modi during a diaspora event in Sydney. India has a high commission in the national capital Canberra and there are currently consulates in Sydney, Melbourne, and Perth. There is also an honorary consulate in Brisbane. The oldest Indian consulate was established in Sydney in 1941 as the trade commission of India. A consulate was established in Melbourne in September 2006, and another in Perth in October 2011. Brisbane is the most populous city of Queensland state and the third-most populous city in Australia, with a population of about 2.6 million. Indian-origin residents make up the third-largest diaspora in Brisbane. Indian-origin residents make up 2.8% of the Australian population.

 

OTHER UPDATES:

 

SPORTS

 

1. Adidas to become new kit sponsor of Indian cricket team: The Board of Control for Cricket in India (BCCI) has informed that German sportswear giant Adidas would become the new kit sponsor of the Indian national cricket team. In 2020, the BCCI signed a three-year deal with the Mobile Premier League’s sports merchandise brand MPL Sports to replace American sportswear manufacturer Nike. Clothing brand Killer Jeans became an interim sponsor after that deal ended prematurely and their contract will expire on May 31, 2023.

 

2. Khelo India University Games begins in Gautam Budh Nagar: The third Khelo India University Games begins with a Kabaddi event in the Gautam Budh Nagar district of Uttar Pradesh. 15 teams of different universities are taking part in this event, for which the matches will be held at Shaheed Vijay Singh Pathik stadium in Gautam Buddha Nagar district. The official opening ceremony of the Khelo India University Games will take place on May 25 in Lucknow and will continue till June 3. The Khelo India University Games will be held in four cities: Gautam Buddha Nagar, Lucknow, Gorakhpur and Varanasi and the closing ceremony of the Games will be held in Varanasi. A total of 240 players will participate in wrestling events, while 96 players will participate in Yogasana events.

 

BANKING AND FINANCE

 

1. RBI approved the reappointment of Vijay Shekhar as part-time chairman: The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank for the re-appointment of Paytm CEO, Vijay Shekhar Sharma as part-time chairman for a year, effective from May 23, 2023. At present, One97 Communications owns a 49% stake in  Paytm Payments Bank and Vijay Shekhar Sharma holds the remaining stakes in the entity. Vijay Shekhar Sharma is the promoter of Paytm Payments Bank Paytm Payments Bank: It was founded in 2017 and is headquartered in Noida

 

2. Google Pay launches RuPay credit cards: Google Pay in association with the National Payments Corporation of India (NPCI) rolled out support for RuPay credit cards on Unified Payments Interface (UPI). With this, the users can now link their RuPay credit cards with Google Pay to pay at all online and offline merchants where RuPay credit cards are accepted. It is now available to RuPay credit card holders of Axis Bank, BoB, Canara Bank, HDFC Bank, Indian Bank, Kotak Mahindra Bank, PNB, and Union Bank of India.

 

3. RBI bought net $750 mn in spot forex market in March 2023: According to the RBI's March 2023 bulletin, the Reserve Bank of India bought $750 million on a net basis in the spot foreign exchange market in March 2023. The RBI has purchased $6.91 billion and sold $6.16 billion. In February 2023, the central bank bought $254 million on a net basis in the spot market. The Indian rupee appreciated by 0.6% against the dollar in March 2023. The RBI's net outstanding forward purchase stood at $23.6 billion as of end-March 2023.

 

4. IIT Kanpur, YES Bank collaborate 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. Aim: To identify innovative startups and extend them the necessary financial backing It bolsters 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.

 

5. YES BANK Collaborates with Red Hat to Redefine Mobile Banking Experience: As per the announcement of Red Hat, Inc., YES BANK has adopted Azure Red Hat OpenShift to transform its next-generation mobile banking applications for an efficient mobile banking experience for its customers. It will enable YES BANK to improve customer experience and provide innovative banking solutions. It will have the agility and flexibility to increase the demand and also support creating a seamless customer experience across multiple banking solutions.

 

AWARDS AND HONOURS

 

1. Georgi Gospodinov wins the International Booker Prize 2023 for Time Shelter: Georgi Gospodinov (Bulgarian writer) and Angela Rodel (translator) bagged the 2023 International Booker Prize for their book 'Time Shelter'. It is the first book originally written in Bulgarian to be nominated for the award. The prize has recognized fiction translated into English and published in the United Kingdom or Ireland in the year leading up to the award. Prize money: 50,000 pounds (about $62,000) shared equally between the author and translator

 

OBITUARIES

 

1. Actor Sarath Babu passes away: Veteran actor Sarath Babu passed away at the age of 71. Babu worked predominantly in Tamil and Telugu cinema. He appeared in more than 200 films, including Hindi films too. He made his debut in 1973 but gained fame in 1978 through the Tamil film Nizhal Nijamagiradhu, directed by K Balachander. He has received eight state Nandi Awards.