Daily Current Affairs – July 02 & 03, 2023
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Daily Current Affairs - Banking - July 02 & 03, 2023
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National News
Govt constructing 10,000 km greenfield expressway projects at Rs 4.5 lakh crores investment
- Union Minister Nitin Gadkari addressed ‘Management Development Program on Infrastructure Financing’ organised by IIM Kozhikode.
- The government is constructing several greenfield expressway projects totalling 10,000 km across the country at a cost of Rs 4.5 lakh crore.
- the road network is being set up under the Bharatmala Pariyojana.
- The government has conceptualized Bharatmala Pariyojna of 65,000 km of highway development across the country.
- The phase 1 road network is of 34,800 km.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
Union WCD Minister inaugurated Regional Symposium on Child Protection, Safety and Child Welfare
- The Ministry of Women and Child Development (MWCD), Government of India organized a one-day Regional Symposium on Child Protection, Safety and Child Welfare at Vigyan Bhawan, New Delhi.
- There were nine participating states of Himachal Pradesh, Punjab, Haryana, Uttarakhand, Uttar Pradesh and UTs of Delhi, Chandigarh, Jammu & Kashmir and Ladakh.
- The Symposium was attended by more than 2000 representatives from Child Welfare Committees (CWCs), Juvenile Justice Boards (JJBs), Members of Village Child Protection Committee (VCPC) and Anganwadi Workers.
- The programme is the start of a series of regional symposiums to be held across the country to raise awareness and outreach about child protection, safety and welfare issues.
- The Symposium was graced by Smt. Smriti Zubin Irani, Union Minister for Women and Child Development, Government of India along with Dr. Munjapara Mahendrabhai, Minister of State, Women and Child Development, Government of India, Shri Indevar Pandey, Secretary, Ministry of Women And Child Development and Shri Priyank Kanoongo, Chairperson, National Commission for Protection of Child Rights (NCPCR).
- The focus of the programme was on the Amendments in the Juvenile Justice Act, Rules.
- It’s impact on adoption processes was highlighted by experience sharing by Prospective Adoptive Parents who received quick resolution post the Amendment in September, 2022.
- An online Training Module on the JJ Act, developed by the MWCD in collaboration with the LBSNAA, Mussoorie was inaugurated and launched on the Karmayogi Igot platform aimed at sensitization and capacity building of all functionaries who need to be aware of the provisions for child safety, protection and welfare right up to the village level.
- Ministry of Women and Child Development – Smriti Zubin Irani,Union Minister (Amethi,UP) – Dr. Mahendra Munjpara,Minister of State (Surendranagar,Gujarat)
International News
India and Vietnam discuss measures for cooperation in areas of law and justice
- India and Vietnam have discussed measures for cooperation in the areas of law and justice.
- The two sides agreed to have official-level deliberations to take forward the discussions on broad areas of cooperation in the field of law and justice including entering into MoUs.
- A bilateral meeting was held between Union Law and Justice Minister Arjun Ram Meghwal and Minister of Justice of Vietnam, Le Thanh Long in New Delhi.
- Vietnam – Hanoi (Capital) – Vietnamese dong (Currency) – Nguyễn Phú Trọng (General Secretary) – Phạm Minh Chính (Prime Minister) – Võ Văn Thưởng (President) – Vietnamese (Language)
CM Himanta Biswa Sarma flags off first methanol consignment to Bangladesh from Assam Petrochemicals Plant
- Assam Chief Minister Himanta Biswa Sarma flagged off the first methanol consignment to Bangladesh from Assam Petrochemicals Plant at Namrup.
- Prime Minister Narendra Modi inaugurated the 500 Thermal Decomposition Plant (TDP) plant of Assam Petrochemicals Limited on 14th of April 2023 and the plant has started producing methanol.
- This would help the government to establish Assam as a petrochemical hub.
- Bangladesh – Dhaka (Capital) – Taka (Currency) – Mohammed Shahabuddin (President) – Sheikh Hasina (Prime Minister) – Bengali (Language)
UAE-India Economic Summit in Abu Dhabi sets stage for stronger trade & economic relations
- The UAE-India Economic Summit, themed “Fostering Synergies – Uniting the Falcon and Tiger Economies,” took place, at the ADGM Auditorium in Al Maryah Island, Abu Dhabi.
- The event, jointly hosted by SBI Capital Markets Limited (SBICAPS) and Abu Dhabi Global Market (ADGM), brought together industry leaders from India and the UAE, and marked the official opening of SBICAPS ADGM Branch Office.
- The summit featured engaging panel discussions on topics such as startups, sustainability, green energy, capital markets, and stressed asset resolution.
- The Amrit Kal vision aligns with the objective of improving the lives of Indian citizens by bridging the rural-urban development gap and reducing government intervention in their lives.
- Key priorities identified under this vision include inclusive development, reaching the last mile, infrastructure development, and investment, with a focus on harnessing the potential of green growth, power, and the financial sector.
- United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)
State News
Union Home Minister and Minister of Cooperation Shri Amit Shah launched -Made in India 'Akshar River Cruise'
- Union Home Minister and Minister of Cooperation Shri Amit Shah launched -Made in India ‘Akshar River Cruise’ on Sabarmati Riverfront developed by Ahmedabad Municipal Corporation and Sabarmati Riverfront Development Corporation Limited through video conferencing.
- This cruise is developed under Public Private Partnership by Ahmedabad Municipal Corporation and Sabarmati Riverfront Development Corporation Limited.
- This cruise is the first passenger catamaran built in India under Make in India at a cost of ₹15 crores with twin engines and it can safely travel for one and a half hours.
- This 30-meter cruise would emerge as a centre of attraction for all the citizens of Ahmedabad and the country visiting the city.
- The cruise has a capacity of 165 passengers and also has a restaurant which will definitely attract the people.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Union Minister Sarbananda Sonowal launches campaign to transform iconic 75 Lighthouses into Tourism Spots in India
- Union Minister for Shipping Sarbananda Sonowal launched a campaign to transform iconic 75 Lighthouses into Tourism Spots from Dwarka in Gujarat.
- The Minister inaugurated the first three iconic Lighthouses at Dwarka, Gopnath and Veraval in Gujarat.
- The initiative aims to showcase the rich culture and significance of these magnificent structures which will boost tourism and empower the local economy.
- The newly developed lighthouses will have many tourist attractions such as musical fountains, museums, selfie points and others.
- Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)
Union Minister Dr Jitendra Singh inaugurates Purvodaya Conclave in Assam
- In Guwahati, Union Minister of State (Ind. Charge) Science & Technology, MoS PMO, DoPT, Pensions, Atomic Energy and Space, Dr Jitendra Singh inaugurated the ‘Purvoday’ conclave showcasing the incredible transformation in Northeast during the last nine years.
- Assam– Dispur (Capital) – Himanta Biswa Sarma (CM) – Gulab Chand Kataria (Governor) – Assamese & Boro (Language)
Banking and Finance
Public sector banks' profit tripled to Rs 1.04 lakh crores in nine years
- Finance Minister Nirmala Sitharaman said the public sector banks’ profit in the last nine years has tripled to Rs 1.04 lakh crore due to initiatives taken by the government and underlined the need for continuing the momentum to fuel the economy.
- The net profit of public sector banks (PSBs) has almost tripled to Rs 1.04 lakh crore in FY23 from Rs 36,270 crore in FY2014.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
SBI starts 34 transaction banking solutions hubs, 21 district centres
- India’s largest lender State Bank of India has set up 34 Hubs at the Top 21 district centres across the country to provide quick and efficient transaction banking solutions, especially to business clients.
- It has also raised Rs 1,000 crore in current accounts at these centres under revamped systems.
- Hubs, launched to coincide with the 68th foundation day of the bank on July 1, will be staffed by product specialists to provide comprehensive solutions for their transaction, payment, and collection requirements under one roof.
- The State Bank of India (SBI) rolled out a revamped version of its YONO app which includes a number of new Unified Payments Interface (UPI) features like Scan and Pay, Pay by Contacts, and Request Money, among others, and Interoperable Cardless Cash Withdrawal (ICCW).
- State Bank of India (SBI) – 01/07/1955 (Founded) – Mumbai (HQ) – Dinesh Kumar Khara (Chairman) – “Pure Banking, Nothing Else” (Tagline)
Acquisitions and Mergers
Bank of Baroda planned to divest up to 49 pc in credit card arm
- State-owned Bank of Baroda (BoB) plans to sell up to 49 per cent stake in credit card business arm BOB Financial Solutions Ltd.
- Currently, it is 100 per cent owned by BoB.
- The bank has floated a Request for Proposal for roping in a strategic investor, and the process is expected to complete in one year.
- BOB intends to offload up to 49 per cent in a combination of primary and secondary capital from one or multiple investors to create more value in BOB Financial Solutions and take it to the next level of growth.
- Bank of Baroda (BOB or BoB) – 20/07/1908 (Founded) – Vadodara, Gujarat (HQ) – Debadatta Chand (MD & CEO) – “India’s International Bank” (Tagline)
Appointments
Vice Admiral Atul Anand takes over as Additional Secretary, DMA
- Vice Admiral Atul Anand took over as Additional Secretary, Department of Military Affairs on July 03, 2023.
- The post was previously held by Lt Gen Anil Puri, who superannuated on February 28, 2023.
- Vice Admiral Atul Anand was commissioned into the executive branch of the Indian Navy on January 01, 1988.
- A recipient of Ati Vishisht Seva Medal (AVSM) and Vishisht Seva Medal (VSM), Vice Admiral Atul Anand has held several key appointments in his career, including the command of Torpedo Recovery Vessel INTRV A72; missile boat INS Chatak; corvette INS Khukri and the destroyer INS Mumbai.
- He also served as the Navigating Officer of IN ships Sharda, Ranvijay & Jyoti and was the Direction Officer of the Sea Harrier squadron INAS 300 and the Executive Officer of the destroyer INS Delhi.
- His important staff appointments include Joint Director, Staff Requirements; Directing Staff at Defence Services Staff College, Wellington; Director, Naval Operations and Director, Naval Intelligence (Ops).
- He has also served as Principal Director, Naval Operations and Principal Director, Strategy, Concepts and Transformation at Integrated Headquarters of Ministry of Defence (Navy).
- As a Flag Officer, he has served as Assistant Chief of Naval Staff (Foreign, Cooperation and Intelligence); Deputy Commandant & Chief Instructor at National Defence Academy, Khadakvasla; Flag Officer Commanding Maharashtra Naval area; Flag Officer Commanding Karnataka Naval area and Director General Naval Operations.
- Ministry of Defence – Rajnath Singh,Union Minister (Lucknow,UP) – Ajay Bhatt,Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
Accenture appointed Rajendra Prasad as Chief Information and Asset Engineering Officer
- Accenture announced that, Rajendra Prasad will become Accenture’s chief information and asset engineering officer, a new role that oversees all internal technology development and support for Accenture systems and Accenture assets for clients.
Ajit Pawar takes oath as Maharashtra Deputy CM
- NCP leader Ajit Pawar was sworn in as Deputy Chief Minister of Maharashtra.
- At present, twelve states in the country have Deputy CMs.
- This list includes DK Shivakumar in Karnataka, TS Singhdeo in Chhattisgarh, Tejashwi Prasad Yadav, and Dushyant Chautala in the coalition governments in Bihar and Haryana respectively; Keshav Prasad Maurya and Brajesh Pathak in UP; and Mukesh Agnihotri in Himachal Pradesh.
- Four states in the Northeast have Deputy CMs.
- Chief Minister Y S Jagan Mohan Reddy of Andhra Pradesh has as many as five Deputies.
- Perhaps the first Deputy CM in India was Anugrah Narayan Sinha, an upper caste Rajput leader from Aurangabad, who was the most important leader of the Congress in Bihar after the first Chief Minister of the state, Dr Srikrishna Singh (Sinha).
- Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)
Canada's first turbaned Sikh police officer appointed chair of WorkSafeBC's board of directors
- Baltej Singh Dhillon, a veteran Canadian Sikh police officer who was a part of the team that probed the 1985 Kanishka Air India terror attack, has become the first South Asian chair of an agency that promotes safe and healthy workplaces in British Columbia province.
- Dhillon, the country’s first Royal Canadian Mounted Police (RCMP) officer to wear a turban as part of the uniform, was appointed to chair the WorkSafeBC’s board of directors for a three-year term, effective June 30.
- WorkSafeBC is a provincial agency promoting safe and healthy workplaces across British Columbia, a province of Canada, and Dhillon has been a member of its board of directors since 2017.
- Canada – Ottawa (Capital) – Canadian Dollar (Currency) – Charles III (Monarch) – Justin Trudeau (Prime Minister) – English (Language)
Important Days
GST Day 2023
- India commemorates 6th Goods and Services Tax (GST) Day on July 1 to honour the successful implementation of the GST regime in the country.
- GST was launched on the 1st July, 2017 in a majestic ceremony held in the Central Hall of Parliament on the midnight of 30th June, 2017.
- GST, a comprehensive indirect tax, revolutionised India’s taxation system by replacing multiple complex levies imposed by both the central and state governments.
- With its destination-based approach, GST simplified the tax structure, ensuring transparency and efficiency.
- The Goods and Services Tax (GST) idea was first proposed in India in the early 2000s to simplify the complex tax system.
- The Kelkar Task Force, a dedicated team, suggested a comprehensive indirect tax system as a replacement for the existing structure that was impeding the economic growth of the country.
- After discussions and negotiations, the Parliament passed the Constitution (101st Amendment) Act in August 2016, giving the central government the power to levy and collect GST.
- Atal Bihari Vajpayee is known as the father of GST.
- The brand ambassador for GST is Amitabh Bachchan.
- France implemented the GST system first.
- GST exempts certain items like fresh fruits, vegetables, and unbranded flour from taxes.
- GST revenue is shared between the Central and State governments in India.
- The GST system in India has tax slabs of 0%, 5%, 12%, 18%, and 28%.
- GST eliminates the need for separate state-level tax registrations, easing business processes.
- The Canadian GST system served as the foundation for the GST system in India.
- The GST Council was established by the-then President Pranab Mukherjee in September 2016.
Zoological Survey of India (ZSI) Day
- 108th Zoological Survey of India (ZSI) Day was observed on July 1.
- The Zoological Survey of India (ZSI), founded on 1 July 1916 by the Ministry of Environment, Forest and Climate Change of the Government of India as a premier Indian organisation in zoological research and studies to promote the survey, exploration and research of the fauna in the country.
- HQ- Kolkata & Director – Dr. Dhriti Banerjee
- Union Minister for Environment & Forest and Climate Change and Labour and Employment Bhupender Yadav inaugurated a three-day celebration programme of the 108th Zoological Survey of India (ZSI) Day with Special Focus on ‘Mission Life’ in Kolkata.
- As part of the celebration, the first two-day Animal Taxonomy Summit will be organised by ZSI, where 400 delegates across India and abroad including the Natural History Museum, London will be participating.
- West Bengal – Kolkata (Capital) – Mamata Banerjee (CM) – C. V. Ananda Bose (Governor) – Bengali & English (Language)
World UFO Day
- World UFO Day is an awareness day for people to gather together and watch the skies for unidentified flying objects (UFO).
- The day is celebrated by some on June 24, and others on July 2.
- June 24 is the date that reporter Kenneth Arnold wrote about what is generally considered to be the first widely reported UFO in the United States, while July 2 is the date of the supposed UFO crash in the 1947 Roswell incident.
- July 2 was declared as the official World UFO Day by the World UFO Day Organisation.
- It is believed that the first World UFO Day was celebrated in 2001 by UFO researcher Haktan Akdogan.
Daily Current Affairs - July 02 & 03, 2023 - Consolidated
- Govt constructing 10,000 km greenfield expressway projects at Rs 4.5 lakh crores investment
- Union WCD Minister inaugurated Regional Symposium on Child Protection, Safety and Child Welfare
- India and Vietnam discuss measures for cooperation in areas of law and justice
- CM Himanta Biswa Sarma flags off first methanol consignment to Bangladesh from Assam Petrochemicals Plant
- UAE-India Economic Summit in Abu Dhabi sets stage for stronger trade & economic relations
- Union Home Minister and Minister of Cooperation Shri Amit Shah launched -Made in India ‘Akshar River Cruise’
- Union Minister Sarbananda Sonowal launches campaign to transform iconic 75 Lighthouses into Tourism Spots in India
- Union Minister Dr Jitendra Singh inaugurates Purvodaya Conclave in Assam
- Public sector banks’ profit tripled to Rs 1.04 lakh crores in nine years
- SBI starts 34 transaction banking solutions hubs, 21 district centres
- Bank of Baroda planned to divest up to 49 pc in credit card arm
- Vice Admiral Atul Anand takes over as Additional Secretary, DMA
- Accenture appointed Rajendra Prasad as Chief Information and Asset Engineering Officer
- Ajit Pawar takes oath as Maharashtra Deputy CM
- Canada’s first turbaned Sikh police officer appointed chair of WorkSafeBC’s board of directors
- GST Day 2023
- Zoological Survey of India (ZSI) Day
- World UFO Day
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