Daily Current Affairs – July 13, 2023
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Daily Current Affairs - Banking - July 13, 2023
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National News
Housing ministry to organise national conclave on urban planning
- The Ministry of Housing and Urban Affairs will organise a national conclave on urban planning at Vigyan Bhawan.
- The conclave will provide a platform for states and union territories (UTs) to “share their experiences in showcasing good practices in urban planning”.
- More than 700 participants including principal secretaries of state urban development departments, chief town planners, urban development authorities, officials from urban local bodies, and heads of leading academic institutions will attend the conclave.
- Minister for Housing and Urban Affairs Hardeep Singh Puri will inaugurate the two-day conclave.
- According to the ministry, the conclave will enable states and UTs to draw up a road map for implementing urban planning reforms for the betterment of urban dwellers.
- Participants will also deliberate on leveraging urban planning tools to achieve sustainable and planned development.
- Ministry of Housing and Urban Affairs – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Kaushal Kishore, Minister of State (Mohanlalganj,UP)
Cabinet approves lithium auction process
- The Cabinet has reportedly cleared amendments to the Mines and Minerals (Development and Regulation) Act, 1957, to allow commercial mining of lithium and other critical minerals, including beryllium, titanium, niobium, tantalum and zirconium.
- The amendment effectively paves the way for withdrawal of the ban on lithium mining by private players and also on these other critical minerals.
- According to an official, changes to the Act will incentivise private sector participation in all spheres of mineral exploration, with a focus on precious and critical ones.
- Mining companies are likely to get exploration rights on the basis of available baseline survey data.
- These companies explore the area from the reconnaissance stage and bring it up to the level required for starting mining operations.
International News
India, Japan discuss furthering cooperation in semiconductor design and manufacturing
- Union Railways Minister Ashwini Vaishnaw held a meeting with the CEO and President of Rapidus Corporation Atsuyoshi Koike and a team from Japan’s Ministry of Economy, Trade and Industry.
- The two sides discussed on furthering cooperation between India and Japan in semiconductor design and manufacturing.
- Previously in June 2023, Prime Minister Narendra Modi met Japan’s former Prime Minister and Chairman of the Japan-India Association (JIA) Yoshihide Suga.
- The two leaders held discussions on deepening India-Japan Special Strategic and Global Partnership in different areas, including parliamentary exchanges, investment and economic ties.
- Japan – Tokyo (Capital) – Japanese yen (Currency) – Naruhito (Emperor) – Fumio Kishida (Prime Minister) – Japanese (Language)
State News
Shri Nitin Gadkari lays Foundation stone of 3 NH projects worth Rs 2,900 Crore in Tirupati, Andhra Pradesh
- Union Minister for Road Transport and Highways Shri Nitin Gadkari laid the foundation stone for 3 NH Projects at Tirupati , Andhra Pradesh.
- These projects encompass a combined length of 87 kilometers and carry a total cost of Rs 2,900 Crore.
- The first undertaking is the Naidupate-Turpu Kanupur Section of NH-71, spanning 35 Km and requiring an investment of ₹1,399 Crore.
- The second project is the Chillakuru Cross-Krishnapatnam Port South Gate Section via Turpu Kanupur on NH-516W, covering a distance of 36 Km and valued at ₹909 Crore.
- Lastly, the Thamminapatnam-Narikellapalle Section involves an extension of the Dedicated Port Road from Eupuru to Krishnapatnam Port on NH-516W and NH-67, length of 16 Km and valued at ₹610 Crore.
- Andhra Pradesh – Visakhapatnam (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)
Banking and Finance
HDFC Bank becomes first to offer interoperability between CBDC and UPI
- HDFC Bank, the country’s largest private sector lender, has become the first commercial bank to implement interoperability between United Payment Interface (UPI) and Central Bank Digital Currency.
- The move comes days after Reserve Bank of India (RBI) deputy governor T Rabi Sankar said such interoperability will be implemented in July.
- It had more than 100,000 customers and 170,000 merchants under the CBDC pilot programme.
- HDFC Bank customers can transact money available in their CBDC wallet across UPI QR code and there will be no need to scan different QR codes at the same merchant.
- HDFC Bank – August 1994 (Founded) – Mumbai (HQ) – Sashidhar Jagdishan (CEO) – “We Understand Your World” (Tagline)
Business and Economy
Only 21 tonnes mobilised under gold monetisation scheme in 8 years
- Only 21 tonnes of gold have been mobilised in the last eight years under the gold monetisation scheme (GMS) which was announced by the Government of India in November 2015.
- This could be considered as a failure as the scheme has undergone several changes with a revamped GMS announced in April 2021 to improve collections.
- This figure was released by the World Gold Council (WGC) in its report titled ‘Gold Investment Market and Financialisation, in India gold market series’.
- According to the WGC, India’s household holding stock of gold is estimated to be between 23,000 and 25,000 tonnes (valued at $1.4 trillion).
Agreements and MoUs signed
MoU signed to promote use of millets & healthy eating practices among Armed Forces
- A Memorandum of Understanding (MoU) to promote use of millets and healthy eating practices among the Armed Forces and ensure availability of safe & nutritious food was signed in the presence of Raksha Mantri Shri Rajnath Singh and Minister of Health & Family Welfare (MoHFW) Dr Mansukh Mandaviya in New Delhi.
- Both Ministers also unveiled a book titled ‘Healthy Recipes for Defence’ to promote the consumption of Shree Anna (millets) and its health benefits.
- The MoU was signed by Director General (Supplies and Transport) Lieutenant General Preet Mohindera Singh on behalf of Ministry of Defence (MoD) and CEO, Food Safety and Standards Authority of India (FSSAI) Shri G Kamala Vardhana Rao.
- It aims to create awareness about the nutritional benefits of diet diversity and millet-based food products among the personnel.
- The MoU will also pave the way for the introduction of millet-based menus in mess, canteens and other food outlets under the MoD.
- This collaboration will also ensure training of food handlers & chefs of mess, canteens of the Armed Forces and other food outlets on food safety and hygiene as per the Food Safety and Standards Act 2006.
- Ministry of Defence – Rajnath Singh,Union Minister (Lucknow,UP) – Ajay Bhatt,Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
Science and Technology
Shri Sarbananda Sonowal inaugurates ‘SAGAR SAMPARK’ Differential Global Navigation Satellite System to Strengthen Maritime sector
- The Ministry of Ports, Shipping and Waterways is committed towards innovation, building best infrastructure, and strengthening the Indian Maritime sector.
- To further the digital initiative in maritime sector the Union Minister of Ports, Shipping and Waterways, Shri Sarbananda Sonowal inaugurated the indigenous Differential Global Navigation Satellite System (DGNSS) ‘SAGAR SAMPARK’ in the presence of Shri Shripad Y. Naik, the Minister of State of Ports, Shipping and Waterways; Shri TK Ramachandran, IAS Secretary, MoPSW and other senior officials from the ministry and Directorate General of Lighthouses and Lightships.
- DGNSS is a terrestrial based enhancement system which corrects the errors and inaccuracies in the Global Navigation Satellite System (GNSS) allowing for more accurate positioning information.
- 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)
Power
FAME III in the works, may cover alternative fuel vehicles this time
- The government has begun working on the third phase of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME III) financial support scheme, which is likely to cover hydrogen-powered vehicles, additional support for electric three-wheelers and a curtailed version for two-wheelers.
- The first two phases of the FAME scheme supported proliferation of electric vehicles in the country.
- Electric two-wheelers benefited the most from the scheme, which initially offered a 40% subsidy on the sale price of the vehicles.
- The support was trimmed to 15% towards the last year of the FAME II scheme in a bid to spread the remaining funds to a larger number of beneficiaries.
Acquisitions and Mergers
Airtel picks up 20.6% more stake in tech startup Lavelle
- Bharti Airtel has bought an additional 20.6% stake in Bengaluru-based technology startup Lavelle Networks, taking its holding to 45.6%.
- In January 2022, Airtel acquired around 25% equity stake in Lavelle Networks.
- Bharti Airtel Limited – 07/07/1995 (Founded) – New Delhi (HQ) – Sunil Mittal (Chairman) – Gopal Vittal (MD & CEO)
Appointments
Centre appoints two judges to Supreme Court
- The Union government cleared the appointment of Justice Ujjal Bhuyan, Chief Justice of Telangana High Court and Justice S Venkatanarayana Bhatti, Chief Justice of Kerala High Court, as judges to the apex court.
Byju's appoints ex-upGrad chief Arjun Mohan as CEO for international business
- Edtech major Byju’s has appointed upGrad’s former chief Arjun Mohan as its CEO for international business.
- Byju Raveendran will remain the group Chief Executive Officer (CEO) and Mrinal Mohit will continue to head the India business.
- Byju’s – 2011 (Founded) – Bangalore (HQ) – Byju Raveendran (CEO)
Ranks and Indices
2023 Military Strength Ranking
- The finalized Global Firepower ranking below utilizes over 60 individual factors to determine a given nation’s PowerIndex (‘PwrIndx’) score with categories ranging from quantity of military units and financial standing to logistical capabilities and geography.
- The report lists 145 countries.
Rank | Country | PwrIndx |
1 | United States | 0.0712 |
2 | Russia | 0.0714 |
3 | China | 0.0722 |
4 | India | 0.1025 |
5 | United Kingdom | 0.1435 |
Sports News
Ashwin becomes first Indian bowler to dismiss father and son in his Test career
- Senior Indian off-spinner Ravichandran Ashwin achieved a rare distinction of getting the wickets of both father and son in his illustrious Test career when he dismissed Tagenarine Chanderpaul on the opening day of the first Test against the West Indies.
- Ashwin, who had made his Test debut in 2011 in New Delhi, had dismissed Tagenarine’s father Shivnarine Chanderpaul during his maiden appearance in the longest format.
Important Days
World Paper Bag Day 2023
- World Paper Bag Day is annually celebrated on July 12.
- The day is celebrated to help raise awareness of the environmental benefits of using paper bags over plastic bags.
- The history of Paper Bags can be traced back to the 19th century when the first paper bag machine was invented by Francis Wolle in 1852.
- Theme – “If You’re ‘Fantastic’, Do Something ‘Dramatic’ To Cut The ‘Plastic’, Use ‘Paper Bags’.”
Defence
Defence ministry gives initial nod for 26 Rafale jets, 3 Scorpene submarines
- The Defence Acquisition Council (DAC) issued an Acceptance of Necessity (AoN) for acqusition of 26 Rafale M fighter jets and 3 additional scorpene submarines.
- The acquisition of 26 Dassault Aviation made Rafale M fighters will meet immediate and critical requirements of the Indian Navy for aircraft carrier borne combat aircraft and will have an advantage of commonality with the 36 Rafale jets already in service with the Indian Air Force.
- Acquisition of three additional Scorpene submarines will extend the current line of boats being built at Mazagaon Dockyards Limited.
- These submarines will be more advanced versions of current class of boats built by the yard – five have been delivered and the sixth is expected next year.
- India has relied on French fighter jets for four decades now.
- Much before buying Rafale in 2015, India bought Mirage jets in 1980s, which still comprise two squadrons of the air force.
- In 2005, India bought six Scorpene-class diesel submarines from France for Rs 18,800 crore ($2.29 billion), the last of which will be commissioned next year.
- France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Language)
Daily Current Affairs - July 13, 2023 - Consolidated
- Housing ministry to organise national conclave on urban planning
- Cabinet approves lithium auction process
- India, Japan discuss furthering cooperation in semiconductor design and manufacturing
- Shri Nitin Gadkari lays Foundation stone of 3 NH projects worth Rs 2,900 Crore in Tirupati, Andhra Pradesh
- HDFC Bank becomes first to offer interoperability between CBDC and UPI
- Only 21 tonnes mobilised under gold monetisation scheme in 8 years
- MoU signed to promote use of millets & healthy eating practices among Armed Forces
- Shri Sarbananda Sonowal inaugurates ‘SAGAR SAMPARK’ Differential Global Navigation Satellite System to Strengthen Maritime sector
- FAME III in the works, may cover alternative fuel vehicles this time
- Airtel picks up 20.6% more stake in tech startup Lavelle
- Centre appoints two judges to Supreme Court
- Byju’s appoints ex-upGrad chief Arjun Mohan as CEO for international business
- 2023 Military Strength Ranking
- Ashwin becomes first Indian bowler to dismiss father and son in his Test career
- World Paper Bag Day 2023
- Defence ministry gives initial nod for 26 Rafale jets, 3 Scorpene submarines
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