Daily Current Affairs – April 07, 2023
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Daily Current Affairs - Banking - April 07, 2023
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National News
Govt approves Rs 30 crore to establish Vaikunth Mehta National Institute of Cooperative Management
- The Ministry of Cooperation has approved and released a one-time grant-in-aid of 30 crore rupees to establish the Vaikunth Mehta National Institute of Cooperative Management.
- This grant will be used for creating essential infrastructure for students and trainees.
- Vaikunth Mehta National Institute of Cooperative Management was established in 1967, and is an apex Centre for Cooperative Management Training, Research and consultancy.
- It also organises training programmes for cooperative sector officials from SAARC countries, Ethiopia, Mauritius and other countries.
- Ministry of Cooperation – Amit Anil Chandra Shah,Union Minister (Gandhinagar,Gujarat) – B. L. Verma, Minister of State (Rajya Sabha MP,UP)
Total of 11 thousand 25 vehicles scrapped by Registered Vehicle Scrapping Facilities
- Road Transport and Highways Minister Nitin Gadkari informed that a total of 11 thousand 25 vehicles have been scrapped so far by the Registered Vehicle Scrapping Facilities.
- This includes seven thousand 750 private vehicles and three thousand 275 government vehicles.
- That 24 States and Union Territories have reported around two lakh 57 thousand government-owned vehicles which are older than 15 years.
- The scheme for special assistance for scrapping facilities to States for capital investment has been extended for the current fiscal by the Government.
- The incentive amount to the States has been increased to three thousand crore rupees from two thousand crore rupees to incentivise the scrapping of State government vehicles which are older than 15 years.
- This incentive includes a waiver of liabilities on old vehicles, providing tax concessions to individuals for scrapping old vehicles and setting up automated vehicle testing facilities.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
G20
- The four-day Development Working Group meeting under India’s G20 Presidency is all set to begin at the tranquil and placid backwaters of Kumarakom in Kerala’s Kottayam district.
- This is the second Development Working Group meeting, after the first one held in Mumbai in December 2022.
- Over 80 delegates from G20 member nations, nine invitee countries and various international and regional organizations will participate in the event.
- The second G-20 Empowerment and Progression of Women’s Economic Representation EMPOWER meeting under India’s presidency of the G-20 concluded in Thiruvananthapuram.
- The theme of the three-day meeting organized by the Union Ministry of Women and Child Development was ‘Women’s Empowerment: A Win-Win for Equity and Economy’.
International News
7th India-Japan Defence Policy Dialogue held in New Delhi
- The 7th India-Japan Defence Policy Dialogue was held in New Delhi.
- During the meeting, a wide range of issues, including Service-level exercises and engagements, regional security issues and cooperation in defence equipment and technology were discussed.
- It was co-chaired by Defence Secretary Giridhar Aramane and Vice Minister of Defence for International Affairs Oka Masami.
- The Japanese Vice Minister also presented policy updates from their recently released National Security Strategy and National Defence Strategy.
- Japan – Tokyo (Capital) – Japanese yen (Currency) – Naruhito (Emperor) – Fumio Kishida (Prime Minister) – Japanese (Language)
Schemes
Tamil Nadu CM Stalin launches new scheme for government school students
- Chief Minister M.K. Stalin has launched a new scheme to encourage government school students for studying in premier institutions.
- Under the Tamil Nadu Chief Minister’s Thiranari Thervu Thittam, 1,000 students would be chosen from government schools to receive guidance in premier institutions such as Indian Institute of Technology, Madras.
- Such students would receive a monthly stipend of ₹1,000 to ensure that they remain motivated, he said, adding that the candidates chosen under the scheme would receive ₹12,000 as annual stipend during their undergraduate and postgraduate courses.
- IIT-M Director V. Kamakoti said 252 government schools in rural locations were identified for the kits.
- The institute has trained two teachers from each school.
- With the support of the India Literacy Project, a non-profit organisation, the teachers were trained.
- Each of the schools were given 10 kits.
- They can perform 100 experiments using the electronics kits.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Banking and Finance
RBI allows UPI linking with pre-sanctioned credit lines from banks
- The Reserve Bank of India (RBI) proposed expanding the reach of the Unified Payments Interface (UPI) digital payments system by allowing transfer to/ from pre-sanctioned credit lines at banks.
- The central bank earlier allowed RuPay credit cards to be linked to UPI, enabling payments through credit on India’s flagship digital payments’ platform that is mostly used for “pay now”.
- Before card linkage was allowed, UPI transactions essentially meant fund transfer between remitters and beneficiaries’ current or savings accounts.
- After being linked with UPI, the sanctioned limit on a RuPay credit card can be used to make payments to a merchant who pays a charge for accepting such payments.
- The facility expanded the scope of payments with credit as a source and the RBI’s latest announcement will strengthen the UPI network being used to facilitate payments financed by credit.
RBI keeps interest rate unchanged
After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook.
Repo Rate
6.50%
Standing Deposit Facility Rate
6.25%
Marginal Standing Facility Rate
6.75%
Bank Rate
6.75%
Reverse Repo Rate
3.35%
Cash Reserve Ratio
4.50%
Statutory Liquidity Ratio
18.00%
SBI Wecare Senior Citizen FD scheme last date extended by three months
- The State Bank of India (SBI) has once more extended its senior citizens’ special fixed deposit program.
- The SBI “WECARE” Senior Citizens’ Term Deposit program was introduced in May 2020, with an initial maturity date of September 2020.
- Yet, the unique FD program was repeatedly extended and has now been extended by the bank June 30, 2023.
- Additional premium of 50 bps (over and above existing premium of 50 bps) over card rate for Public i.e., 100 bps over card rate for Public.”
- The interest rate offered under the scheme is 7.50 percent for tenure ranging from 5 years to 10 years.
- The main aim of this FD scheme is protecting income of senior citizens by providing additional interest on their term deposits.
- This FD can be booked by visiting branch, using net banking, or YONO app.
- State Bank of India (SBI) – 01/07/1955 (Founded) – Mumbai (HQ) – Dinesh Kumar Khara (Chairman) – “Pure Banking, Nothing Else” (Tagline)
HDFC Bank launches Regalia Gold Credit Card
- HDFC Bank has announced the launch of Regalia Gold Credit Card, its latest entry into the ‘Super Premium Category’ of credit cards.
- A Regalia Gold credit card will be available to high-income individuals.
- HDFC bank is targeting a wide range of potential customers such as travellers and lifestyle enthusiasts.
- HDFC Bank – August 1994 (Founded) – Mumbai (HQ) – Sashidhar Jagdishan (CEO) – “We Understand Your World” (Tagline)
Business and Economy
RBI GDP growth projection
- RBI marginally raises GDP growth projection for FY24 to 6.5 pc from earlier estimate of 6.4 pc.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Agreements and MoUs signed
I&B Ministry and Amazon India sign collaboration agreement to boost India's creative economy and promote creative talent
- The Information and Broadcasting Ministry and Amazon India have signed a collaboration agreement in New Delhi to boost India’s creative economy and promote creative talent in the country.
- As part of the agreement, Amazon Prime Video will sponsor scholarships, create internship programmes, and offer job opportunities for students of the Film and Television Institute of India (FTII) and Satyajit Ray Film and Television Institute.
- International Film Festival of India (IFFI) Award-winning films and films produced as part of India’s international co-production treaties will be onboarded by Amazon Prime Video.
- Amazon Prime Video and MiniTV will also onboard the rich archival content owned by Prasar Bharati and National Film Development Corporation for easy access to the youth of the country and across the world.
- Amazon – 05/07/1994 (Founded) – Seattle, Washington (HQ) – Andy Jassy (CEO)
Science and Technology
NASA's Mars Ingenuity helicopter breaks records once again
- NASA’s record-breaking Mars Ingenuity helicopter has soared to new heights and flown faster.
- Ingenuity flew to a maximum altitude of 52.5 feet (16 meters) on its latest mission, reaching a top speed of 14.5 mph (23.3 kph), according to NASA’s Ingenuity mission flight log.
- Before, the fastest Ingenuity had flown 13.4 mph (21.6 kph), and its highest altitude was 46 feet (14 m).
- National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)
Appointments
India elected as member to UN's Programme on HIV/AIDS
- India was elected as a member of the Commission on Narcotic Drugs and the Programme Coordinating Board of the Joint UN Programme on HIV/AIDS (UNAIDS) of the United Nations, according to the statement released by the permanent mission of India to the United Nations in New York.
- The Commission on Narcotic Drugs supervises the application of international drug control treaties, while the Programme Coordinating Board of UNAIDS supports and provides strategic direction for an international response to HIV/AIDS.
- India has also been elected to the United Nations’ highest statistical body for a four-year term.
- The Statistical Commission is the highest body dealing with international statistical activities and is responsible for standards set in the field of statistics.
- India was a member of the Statistical Commission last in 2004.
- Joint United Nations Programme on HIV and AIDS (UNAIDS) – 26/07/1994 (Founded) – Geneva, Switzerland (HQ) – Winnie Byanyima (Executive Director)
Ranks and Indices
Delhi airport emerges as the world's 9th busiest airport in 2022
- Delhi airport has emerged as the ninth busiest airport in the world in 2022 with passenger traffic of more than 5.94 crore, according to Airports Council International (ACI) list.
- DIAL is the operator of the Indira Gandhi International Airport (IGIA) in the national capital.
- 1st – Hartsfield-Jackson Atlanta International Airport (ATL, 93.7 million passengers).
- 2nd – Dallas Fort Worth Airport (DFW, 73.4 million passengers)
- 3rd – Denver Airport (DEN, 69.3 million passengers)
- 4th – Chicago O’Hare Airport (ORD, 68.3 million passengers).
- Airports Council International (ACI) – 1991 (Founded) – Montreal, Canada (HQ) – Mr. Emmanuel Menanteau (President)
India rises five places to 101 in latest FIFA rankings
- The Indian men’s football team moved up five places to be at 101st spot in the FIFA rankings, riding on the wins over Myanmar and Kyrgyzstan in the recent Tri-nation tournament.
- This was the first ranking chart of the year — the previous one was on December 22, 2022.
- India is now one place below New Zealand and one place above Kenya.
- Fédération internationale de football association FIFA (International Association Football Federation) – 21/05/1904 (Founded) – Zurich, Switzerland (HQ) – Gianni Infantino (President)
Awards and Recognitions
Indian-American physician honoured with young urologist of the year award
- An Indian-American physician and professor has been honoured with the Young Urologist of the Year Award conferred by the American Urological Association (AUA).
- Dr. Nitya Abraham is an Associate Professor at Albert Einstein College of Medicine and Program Director for the Montefiore Urology residency programme.
- Abraham is among the honorees of the 2023 Young Urologist of the Year Award.
- Abraham is the daughter of Dr. Thomas Abraham, Chairman of the Global Organisation of People of Indian Origin, International and retired internist/geriatrician Dr. Susy Abraham.
- United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)
Sports News
FIFA Withdraws Peru’s Hosting Rights Of 2023 U-17 World Cup
- World football governing body, FIFA, has withdrawn Peru’s hosting rights to the 2023 FIFA U-17 World Cup.
- The tournament remains scheduled to take place from 10 November to 2 December 2023, but the Bureau of the FIFA Council will now designate a new host in due course.
- Peru – Lima (Capital) – Peruvian sol (Currency) – Dina Boluarte (President) – Alberto Otárola (Prime Minister) – Spanish (Language)
Kim Cotton Becomes The 1st Female On-Field Umpire to Officiate A Men's T20I
- It was a historical moment, when New Zealand’s Kim Cotton became the first on-filed umpire to officiate ICC’s full member men’s team’s T20 international game.
- She played cricket for Warwickshire’s women’s team and also umpired for them during the 1980s.
- She made her debut as an umpire in a men’s cricket match in 1989, when she stood in a Second XI game between Worcestershire and Glamorgan.
- New Zealand – Wellington (Capital) – New Zealand dollar (Currency) – Charles III (Monarch) – Chris Hipkins (Prime Minister) – English, Māori, NZ Sign Language (Language)
MS Dhoni, Yuvraj Singh and Mithali Raj among five Indians to receive MCC’s honorary life membership
- Dhoni, Yuvraj Singh, Suresh Raina, Mithali Raj, and Jhulan Goswami were honoured with Honorary Life Membership in the Marylebone Cricket Club (MCC).
- The MCC has named 19 new Honorary Life Members, with eight Test-playing nations represented.
Important Days
International Day of Sport for Development and Peace
- The International Day of Sport for Development and Peace is observed in the world every year on the 6th of April.
- The day was created by the United Nations General Assembly in 23 August 2013, supported by the International Olympic Committee since 6 April 2014.
- Theme – “Scoring for People and the Planet.”
- International Olympic Committee (IOC) – 23/06/1894 (Founded) – Lausanne, Switzerland (HQ) – Thomas Bach (President) – 104 active members, 45 honorary members, 1 honour member (United States), 206 individual National Olympic Committees – French & English (Language)
Daily Current Affairs - April 07, 2023 - Consolidated
- Govt approves Rs 30 crore to establish Vaikunth Mehta National Institute of Cooperative Management
- Total of 11 thousand 25 vehicles scrapped by Registered Vehicle Scrapping Facilities
- G20
- 7th India-Japan Defence Policy Dialogue held in New Delhi
- Tamil Nadu CM Stalin launches new scheme for government school students
- RBI allows UPI linking with pre-sanctioned credit lines from banks
- RBI keeps interest rate unchanged
- SBI Wecare Senior Citizen FD scheme last date extended by three months
- HDFC Bank launches Regalia Gold Credit Card
- RBI GDP growth projection
- I&B Ministry and Amazon India sign collaboration agreement to boost India’s creative economy and promote creative talent
- NASA’s Mars Ingenuity helicopter breaks records once again
- India elected as member to UN’s Programme on HIV/AIDS
- Delhi airport emerges as the world’s 9th busiest airport in 2022
- India rises five places to 101 in latest FIFA rankings
- Indian-American physician honoured with young urologist of the year award
- FIFA Withdraws Peru’s Hosting Rights Of 2023 U-17 World Cup
- Kim Cotton Becomes The 1st Female On-Field Umpire to Officiate A Men’s T20I
- MS Dhoni, Yuvraj Singh and Mithali Raj among five Indians to receive MCC’s honorary life membership
- International Day of Sport for Development and Peace
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