Daily Current Affairs – July 08, 2023
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Daily Current Affairs - Banking - July 08, 2023
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National News
Ministry of Railways introduces Discount Scheme in AC Chair Car and Executive Classes of all trains having AC Sitting Accommodation
- With a view to optimize utilization of accommodation in trains, Ministry of Railways has decided to delegate powers to Zonal Railways to introduce discounted fare scheme in trains with AC sitting accommodation including Anubhuti & Vistadome Coaches
- The element of discount shall be upto maximum 25% on the basic fare
- Other charges as applicable shall be levied separately
- Train having classes with occupancy less than 50% (either end to end or in some specified legs/sections) during the last 30 days shall be taken into consideration
- Discount to be implemented with immediate effect.
- No refund of fare shall be admissible for already booked passengers
- In case of those trains where flexi fare scheme is applicable in a particular class and the occupancy is poor, flexi fare scheme may be withdrawn initially as a measure to increase the occupancy.
- This scheme shall not be applicable on special trains introduced as holiday/festival specials etc.
- Ministry of Railways – Ashwini Vaishnaw,Union Minister (Rajya Sabha MP,Odisha) – Raosaheb Danve,Minister of State (Jalna,Maharashtra) Darshana Jardosh,Minister of State (Surat,Gujarat)
Stakeholder Workshop on Strategy for Promotion of Alternative Nutrition to reduce dependence on Chemical Fertilizers for Soil health and Sustainability
- Dr. Mansukh Mandaviya, Union Minister for Chemicals and Fertilizers chaired at the stakeholder Workshop on Strategy for Promotion of Alternative Nutrition to reduce dependence on Chemical Fertilizers for Soil health and Sustainability.
- Ministry of Chemicals and Fertilizers – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Bhagawanth Khuba,Minister of State (Bidar,Karnataka)
International News
67th convention of Travel Agents Association of India kick-starts in Colombo
- The 67th convention of the Travel Agents Association of India (TAAI) has kick-started in the vibrant capital city of Colombo.
- The convention aims to promote regional tourism and strengthen bilateral relations between India and Sri Lanka.
- With the theme “Transcending Borders, Transforming Lives,” the event positions Sri Lanka as a preferred destination for Indian outbound travellers.
- The convention will feature two days of business sessions and a Buyer-Seller meet mart hosted at the renowned Cinnamon Grand Colombo and Shangri-La Colombo hotels.
- The convention is being attended by over 650 delegates, including members of the Indian media, providing a platform for networking, updates on industry trends, promotion, and business opportunities.
- TAAI conventions are highly anticipated events in India’s Travel & Tourism industry, with immense visibility and global impact.
- The convention will serve as a catalyst for bilateral tourism growth and strengthen ties between the two nations.
- Sri Lanka – Sri Jayawardenepura Kotte (legislative) Colombo (executive and judicial) (Capital) – Sri Lankan rupee (Currency) – Ranil Wickremesinghe (President) – Dinesh Gunawardena (Prime Minister) – Sinhala & Tamil (Language)
India & Panama signs MoU on Electoral Cooperation
- The Election Commission of India and Electoral Tribunal (ET) of Panama signed a Memorandum of Understanding in Panama City to establish the institutional framework for their ongoing cooperation in the field of election management and administration.
- A three member ECI delegation led by Chief Election Commissioner of India Shri Rajiv Kumar held interactions with Presiding Magistrate, Electoral Tribunal of Panama Mr. Alfredo Juncá Wendehake on strengthening collaboration and knowledge exchange between the two Election Management Bodies (EMBs). Mr. Eduardo Valdes Escoffery, first vice presidential magistrate and Mr. Luis A. Guerra Morales, second vice presidential magistrate, ET of Panama were also present.
- this MoU reflects the ECI’s ongoing commitment to engage with electoral bodies across the globe and strengthen the democratic processes worldwide.
- ECI has been expanding its links and cooperation with foreign Election Management Bodies (EMBs) through its ‘International Cooperation Programme’.
- Having signed MoUs with Mexico, Brazil and Chile in the past years, this is the fourth MoU signed by ECI with an EMB in the Latin Americas region, with an overall 31 MoUs with EMBs and international organisations across the world.
- Panama – Panama City (Capital) – Balboa & United States dollar (Currency) – Laurentino Cortizo (President) – Spanish (Language)
State News
On YSR's birth anniversary, Andhra CM transfers Rs 1,117 crore to 10 lakh farmers as compensation
- Commemorating former chief minister of combined Andhra Pradesh Y S Rajasekhar Reddy’s birth anniversary as ‘Rythu Dinothsavam’ (farmer’s day), Andhra Pradesh Chief Minister, and his son, Y S Jagan Mohan Reddy disbursed Rs 1,117 crore to more than 10 lakh farmers in the state as crop insurance compensation for 2022 Kharif season.
- The Chief Minister released the funds at a public meeting under the Dr YSR Free Crop Insurance Scheme in Kalyandurg of Anantapuramu district.
- Andhra Pradesh – Visakhapatnam (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)
PM Modi to inaugurate development projects worth 24,300 Crore rupees in Rajasthan
- Prime Minister Narendra Modi will dedicate and lay the foundation stone of development projects worth over 24,300 crore rupees in Bikaner this evening. The Prime Minister will dedicate to the nation a six-lane greenfield expressway section of the Amritsar – Jamnagar Economic Corridor.
- Spanning over 500 km in Rajasthan, this section which runs from village Jakhdawali in Hanumangarh district to village Khetlawas in Jalore district, is built at a cost of around 11,125 crore rupees.
- This expressway will significantly reduce travel time and improve connectivity between major cities, and industrial corridors.
- Prime Minister will dedicate to the Nation the phase-I of the Inter-State Transmission Line for Green Energy Corridor worth around 10,950 crore rupees.
- The Green Energy Corridor will integrate about 6 GW of renewable power and help in grid balancing of Renewable Power with Thermal Generation in Western Region and Hydro Generation in the Northern Region, thereby strengthening transmission capacity between Northern Region and Western Region.
- The Prime Minister will also dedicate Bikaner to the Bhiwadi Transmission Line.
- To be developed by Power Grid at a cost of around 1,340 crore rupees, the Bikaner to Bhiwadi Transmission Line will help in the evacuation of 8.1 GW of Solar Power in Rajasthan.
- The Prime Minister will dedicate a new 30-bedded Employees’ State Insurance Corporation (ESIC) Hospital in Bikaner.
- The hospital will have a capacity upgradeable to 100 beds.
- Further, the Prime Minister will lay the foundation stone for the redevelopment of the Bikaner Railway station to be developed at a cost of around 450 crore rupees.
- The Foundation Stone for the Doubling of the 43 km long Churu – Ratangarh section will also be laid by the Prime Minister.
- The Rajasthan government plans to spend around Rs 200 crore to ramp up infrastructure in several industrial hubs to attract a slew of investments in the state.
- Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) – Kalraj Mishra (Governor) – Hindi (Language)
PM laid foundation stone for several infrastructure development projects worth around Rs 6,100 crores in Warangal, Telangana
- The Prime Minister, Shri Narendra Modi laid the foundation stone for several crucial infrastructure development projects in Telangana worth around Rs 6,100 crores in Warangal, Telangana.
- The development works include 176 km long National Highway Projects worth over Rs 5,550 crores and a Railway Manufacturing Unit in Kazipet to be developed at a cost of over Rs 500 crores.
- The Prime Minister also performed darshan and pooja at Bhadrakali Temple.
- Telangana – Hyderabad (Capital) – K Chandrashekar Rao (CM) – Tamilisai Soundarajan (Governor) –Telugu (Language)
PM Modi unveiled 29 development projects worth Rs 12,000 crore in Varanasi
- Prime Minister Narendra Modi unveiled 29 development projects worth Rs 12,100 crores in his Varanasi parliamentary constituency.
- Prime minister launched the Pandit Deen Dayal Upadhyaya Junction-Son Nagar railway line of the Dedicated Freight Corridor.
- Built at a cost of more than Rs 6,760 crore, the new line will facilitate faster and more efficient movement of goods.
- He also laid the foundation stones or inaugurated several other projects for Varanasi and adjoining districts.
- Uttar Pradesh – Lucknow (Capital) – Yogi Adityanath (CM) – Anandiben Patel (Governor) – Hindi (Language)
Tripura presents state budget for 2023-24 with an outlay of Rs 27,654.40 crore
- Tripura presented state budget for 2023-24 with an outlay of Rs 27,654.40 crore, with around Rs 5,358.70 crore allocated for capital expenditure.
- Tripura – Agartala (Capital) – Manik Saha (CM) – Satyadev Narayan Arya (Governor) – Bengali, English, Kokborok (Language)
Schemes
Godhan Nyay Yojana
- The Chhattisgarh government has procured cow-dung worth over Rs 247 crore from cattle herders over the past three years.
- Under the Bhupesh Baghel government’s flagship scheme Godhan Nyay Yojana, Chhattisgarh is the only state in the country purchasing cow-dung.
- The yojana was launched in July 2020 to promote organic farming, generate employment in rural and urban areas, promote cow rearing and cow protection, and provide financial benefits to cattle producers.
- Under the scheme, gauthans (livestock sheds) have been set up, and they have emerged as centres of livelihood for villagers.
- Cow-dung is purchased through gauthans at Rs 2 a kg.
- Chhattisgarh – Raipur (Capital) – Bhupesh Baghel (CM) – Biswabhusan Harichandan (Governor) – Chhattisgarhi & Hindi (Language)
National Pension Scheme to add 1.3 million new subscribers in FY24
- The National Pension Scheme (NPS) is expected to add 13 lakh new subscribers in the current financial year, PFRDA chairman Deepak Mohanty.
- The number of new subscribers under the NPS was over 10 lakh last year.
- As of July 1 2023, the number of subscribers under various schemes under the National Pension system stood at 6.5 crore, showing an increase of around 20 percent on a year-on-year basis.
- Out of this, 1.3 crore subscribers were under the national pension scheme.
- The total pension assets under management stood at Rs. 9.7 trillion, as on July 1 2023, which is around 30 percent growth on a year-on-year basis.
- The corpus so far is growing significantly, we are just shy of Rs. 10 lakh crore (10 trillion).
- The corpus is around 9.8 trillion including both APY [Atal Pension Yojana] and NPS.
- Pension Fund Regulatory and Development Authority (PFRDA) – 23/08/2003 (Founded) – New Delhi (HQ) – Deepak Mohanty (Chairman)
Banking and Finance
Sebi imposes Rs 1 crore penalty on Fidelity Management for operating as FPI
- The Securities and Exchange Board of India (Sebi) imposed a penalty of Rs 1 crore on Fidelity Management & Research Company (FMRC) for operating as a foreign portfolio investor (FPI) without proper registration.
- The matter relates to continued operations by FMRC in the Indian securities market even when the FPI registration of its associate Fidelity Investments Money Management (FIMM) ceased following the merger between the two entities.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
Agreements and MoUs signed
Bureau of Water Use Efficiency & Indian Plumbing Association sign MoU with the aim of achieving Water Positive India
- The Bureau of Water Use Efficiency (BWUE) and Indian Plumbing Association (IPA) have signed an MoU with the aim of achieving a Water Positive India.
- The MoU focuses on creating awareness and promoting rainwater harvesting structures, low-flow fixtures and sanitary ware, treatment of grey and black water, and water audit of the built environment.
- The signing of the MoU is aligned with Goal-4 of the National Water Mission (NWM) to increase water use efficiency by 20 percent.
- The collaboration between NWM and IPA will include public education, awareness and outreach programmes, water stewardship, circular economy of water, rainwater harvesting, aquifer recharge, and reclamation of used water.
Power
20 % ethanol blended petrol, E20, to be available across country by 2025
- Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri has said that 20 percent ethanol blended petrol, E20, will be available across India by 2025.
- Addressing the AGM of Indian Merchants Chambers virtually, Mr. Puri said the first E20 special fuel outlet was opened in February this year, following which the number has already crossed 600 and such stations will be available across the country by 2025.
- The minister informed that ethanol blending in petrol has gone up from 38 crore litres in 2013-14 to 433 crore litres in 2021-22.
- The number of fuel stations selling biofuels has increased from close to thirty thousand in 2016-17 to more than 67,640.
- Ministry of Petroleum and Natural Gas – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Rameshwar Teli, Minister of State (Dibrugarh,Assam)
Installed Electricity Generation Capacity of NTPC Group crosses 73 GW
- The group installed electricity generation capacity of NTPC, India’s leading integrated power producer, has touched 73,024 MW.
- This includes 57,038 MW installed capacity of power plants owned by NTPC and 15,986 MW capacity of plants owned by NTPC’s subsidiaries and joint ventures.
- The total capacity of the group crossed 73 GW with the commissioning of 660 MW capacity Unit-2 of Stage-I (3 x 660 MW) of Barh Super Thermal Power Project in Bihar.
- This includes 50 NTPC Stations (26 Coal based stations, 7 gas based stations, 1 Hydro station, 16 Renewable Energy based stations) and 39 stations by Joint Ventures and subsidiaries (9 coal based, 4 gas based, 8 hydro and 18 Renewable Energy based stations).
- Further, the company is committed to achieve 60,000 MW of Renewable Energy capacity by the year 2032.
- NTPC Ltd. is India’s largest integrated power utility, contributing 1/4th of the power requirement of the country.
- NTPC Limited (National Thermal Power Corporation Limited) – 07/11/1975 (Founded) – New Delhi (HQ) – Gurdeep Singh (Chairman & MD)
Appointments
Microsoft India President Anant Maheshwari resigns, Irina Ghose becomes MD
- Microsoft India said that its India president Anant Maheshwari has stepped down from his position to pursue other interest.
- The firm has appointed the company’s chief operating officer Irina Ghose as managing director of India, while MD Sashi Sreedharan has been promoted to a more senior position.
- Former AWS India head Puneet Chandok may head to Microsoft India.
- Also, former director of the public sector at Microsoft India, Navtej Bal has been promoted as the chief operating officer.
- Venkat Krishnan has been elevated as executive director of public sector business.
Reports
Govt released report on Performance Grading Index 2.0 for 2021-22
- The Ministry of Education released the report on performance grading index (PGI) 2.0 for states and union territories for the year 2021-22.
- The Department of School Education and Literacy, Ministry of Education, devised PGI for states and UTs that assesses the performance of the school education system at the state/UT level by creating an index for comprehensive analysis.
- The PGI for states/UTs was first released for the year 2017-18 and so far, it has been released up to the year 2020-21.
- Over the period, many of the indicators in PGI have become redundant.
- Therefore, to have a more updated base with quality indicators, to align with new initiatives of the National Education Policy (NEP) 2020, and to replace existing indicators that have achieved optimal targets, the PGI – State structure for 2021-22 has been revised and renamed as PGI 2.0.
- Ministry of Education – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Subhas Sarkar, Minister of State (Bankura, West Bengal), Annpurna Devi Yadav, Minister of State (Kodarma, Jharkhand), Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur)
Awards and Recognitions
Bajaj Allianz Life Insurance Wins Insurer Innovation Award 2023 at the World’s Digital Insurance Awards
- Bajaj Allianz Life Insurance, one of the leading private life insurer in India announced that it has won the Insurer Innovation Award 2023 for the APAC region at The World’s Digital Insurance Awards.
- The award, hosted by TDI – The Digital Insurer, acknowledges Bajaj Allianz Life’s ground-breaking WhatsApp Conversational Platform – empowering customers to digitally services their policies seamlessly.
- TDI with 50k+ members from 100+ countries, hosted the 8th edition of The World’s Digital Insurance Awards to showcase some of the most innovative projects in the insurance industry.
- Bajaj Allianz Life Insurance – 2001 (Founded) – Pune (HQ) – Tarun Chugh (CEO)
Obituary
BSF Commander who risked court martial to join Bangladesh freedom fighters dies
- Legendary Commander of Border Security Force (BSF) Parimal Kumar Gosh, who reportedly was the first Indian military officer to help Bangladesh freedom fighters in 1971 passed away at 84.
- Ghosh was one of the commanders of the 92nd Battalion of BSF and was posted in Tripura at the onset of the freedom movement of Bangladesh.
- He had told earlier that he was emotionally moved by the tales of torture and terror unleashed by the Pakistani forces on Bengali People in March 1971.
- Border Security Force – 01/12/1965 (Founded) – New Delhi (HQ) – Nitin Agarwal (Director General)
Daily Current Affairs - July 08, 2023 - Consolidated
- Ministry of Railways introduces Discount Scheme in AC Chair Car and Executive Classes of all trains having AC Sitting Accommodation
- Stakeholder Workshop on Strategy for Promotion of Alternative Nutrition to reduce dependence on Chemical Fertilizers for Soil health and Sustainability
- 67th convention of Travel Agents Association of India kick-starts in Colombo
- India & Panama signs MoU on Electoral Cooperation
- On YSR’s birth anniversary, Andhra CM transfers Rs 1,117 crore to 10 lakh farmers as compensation
- PM Modi to inaugurate development projects worth 24,300 Crore rupees in Rajasthan
- PM laid foundation stone for several infrastructure development projects worth around Rs 6,100 crores in Warangal, Telangana
- PM Modi unveiled 29 development projects worth Rs 12,000 crore in Varanasi
- Tripura presents state budget for 2023-24 with an outlay of Rs 27,654.40 crore
- Godhan Nyay Yojana
- National Pension Scheme to add 1.3 million new subscribers in FY24
- Sebi imposes Rs 1 crore penalty on Fidelity Management for operating as FPI
- Bureau of Water Use Efficiency & Indian Plumbing Association sign MoU with the aim of achieving Water Positive India
- 20 % ethanol blended petrol, E20, to be available across country by 2025
- Installed Electricity Generation Capacity of NTPC Group crosses 73 GW
- Microsoft India President Anant Maheshwari resigns, Irina Ghose becomes MD
- Govt released report on Performance Grading Index 2.0 for 2021-22
- Bajaj Allianz Life Insurance Wins Insurer Innovation Award 2023 at the World’s Digital Insurance Awards
- BSF Commander who risked court martial to join Bangladesh freedom fighters dies
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