Daily Current Affairs – July 14, 2023
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Daily Current Affairs - Banking - July 14, 2023
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National News
Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurates the National Mega Conclave on FPO in the cooperative sector
- Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurated the National Mega Conclave on FPO in the cooperative sector and released the action plan for formation of 1100 new FPOs by PACS in New Delhi.
- Ministry of Cooperation – Amit Anil Chandra Shah,Union Minister (Gandhinagar,Gujarat) – B. L. Verma, Minister of State (Rajya Sabha MP,UP)
International News
PM Narendra Modi participates in Bastille Day Parade in Paris as Guest of Honour
- Prime Minister Narendra Modi along with French President Emmanuel Macron witnessed the Bastille Day Parade in Paris. Mr. Modi attended the parade as the Guest of Honour.
- A tri-services Indian armed forces contingent participated in it, including IAF aircraft.
- French National Day, or Bastille Day occupies a special place in French consciousness.
- This day commemorates the Storming of the Bastille Prison in 1789 during the French Revolution.
- Bastille Day Parade is the highlight of the Bastille Day Celebrations.
- France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Language)
State News
PM Modi launches the Crematorium Redevelopment by Edifice Consultants in Varanasi
- Prime Minister Narendra Modi launched the redevelopment of two cremation ghats in Varanasi.
- The ‘Raja Harishchandra Ghat’ and ‘Manikarnika Ghat’ two of the oldest ghats are being redeveloped as eco-friendly crematoriums by Edifice Consultants, backed with CSR support from the Rupa Foundation and JSW Foundation at a cost of Rs 18 crore and 16.86 crore, respectively.
- Uttar Pradesh – Lucknow (Capital) – Yogi Adityanath (CM) – Anandiben Patel (Governor) – Hindi (Language)
Gujarat CM inaugurates projects worth Rs 482 crores
- Chief Minister Bhupendra Patel laid the foundation stone and inaugurated development projects, including an outer Ring Road of 14.59 kilometers, worth Rs 482.21 crore in Surat.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Schemes
Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM)
- The government’s pension scheme for unorganised workers, Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM), saw the exit of about 21% subscribers in less than six months, raising questions on the viability of the scheme.
- The total number of subscribers under the scheme fell to 4.43 million on July 11, down 1.19 million from an all-time high of 5.62 million on January 31, as per government data.
- Experts attributed this to high inflation and rise in cost of living which has made it difficult for unorganised workers to continue contributing to this voluntary pension scheme or may even compel them to withdraw their share of contribution.
- Pradhan Mantri Shram Yogi Maan-Dhan (PM-SYM) was launched by Prime Minister Narendra Modi under the Ministry of Labour and Employment in February 2019.
- Pradhan Mantri Shram Yogi Maandhan is available to unorganized workers between 18 and 40 years of age.
- Further, the monthly income of the worker should be below ₹15,000.
- Under the scheme, the subscriber will receive a minimum assured pension of ₹3,000 per month after attaining the age of 60 years.
- However, to benefit from the scheme, workers have to contribute ₹55 monthly (for age 18) and it varies according to age. Maximum contribution for a year cannot exceed ₹2400 (Rs.200 per month).
- Ministry of Labour & Employment Bhupender Yadav,Cabinet Minister (Rajya Sabha MP,Rajasthan) – Rameshwar Teli,Minister of State (Dibrugarh,Assam)
Mangrove Initiative for Shoreline Habitats and Tangible Incomes (MISHTI) scheme
- Union Minister for Environment, Forest and Climate Bhupender Yadav visited Tamil Nadu and launched a mangrove plantation programme in Kovalam creek in Tamil Nadu’s Chengalpattu district.
- The drive is a part of the Mangrove Initiative for Shoreline Habitats and Tangible Incomes (MISHTI) scheme of the Government of India and around 100 people, including students, participated in the event.
- The plantation drive is a part of ongoing “Hariyali Mahotsav” with a particular focus on mangroves.
- Ministry of Environment, Forest and Climate Change (MoEFCC) – Bhupender Yadav, Cabinet Minister (Rajya Sabha MP,Rajasthan) – Ashwini Kumar Choubey, Minister of State (Buxar,Bihar)
Ama Odisha, Nabin Odisha scheme
- The Odisha Cabinet approved ₹4,000 crores “Ama Odisha, Nabin Odisha (Our Odisha, New Odisha)” scheme for rural development and to spread “Lord Jagannath culture”.
- The scheme is a repackaged version of the “Ama Gaon, Ama Bikash (Our village, Our development)”.
- It entitles the Gram Panchayats with a total entitlement of ₹50 lakhs to improve the infrastructures and facilities.
- The scheme limits the above-stated projects’ costs between ₹2.5 – 10 lakhs.
- The Odisha government shall undertake major projects under public works, energy, revenue, disaster management, and development departments.
- Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)
Banking and Finance
Bank of Baroda launches Mahila Samman Savings Certificate, a small savings scheme with 7.5% interest rate
- Bank of Baroda has announced the launch of the Mahila Samman Savings Certificate (MSSC) Scheme, a new initiative by the Government for women.
- Bank of Baroda is the third bank to announce this facility after Canara Bank and Bank of India along with Post Office.
- MSSC is a 2-year deposit scheme, which offers an interest rate of 7.5% per annum.
- The scheme is valid for a two-year period up to March 31, 2025.
- At Bank of Baroda, Mahila Samman Savings Certificate Schemes can be opened by both customers and non-customers.
- Any woman who meets the requirements can open an account, either on her own behalf or on behalf of a girl who is minor and has a guardian (female or male).
- Under MSSC, a single account holder may deposit up to Rs 200,000 cumulatively, either all at once or gradually, with a minimum deposit of Rs 1,000 made in multiples of Rs 100.
- Note that a minimum of three months must pass between opening a new account and closing an existing account before an individual can open further accounts.
- The Mahila Samman Savings Certificate account is charged with the interest on a quarterly basis.
- Bank of Baroda (BOB or BoB) – 20/07/1908 (Founded) – Vadodara, Gujarat (HQ) – Debadatta Chand (MD & CEO) – “India’s International Bank” (Tagline)
PayU, AWS India, Chiratae Ventures collaborate to launch fintech program
- Payments service provider PayU announced the launch of a 45-day fintech accelerator program, inFINity for early-stage Indian startups in collaboration with AWS India (Amazon Web Services) and venture capital firm Chiratae Ventures.
- The program aims to support the growth of early-stage fintech startups by providing access to mentorship from industry experts, curated resources, and AWS Activate credits.
- The deadline to apply for the cohort is August 11, 2023.
- Selected applicants will be announced on August 17, and the program will commence on August 31 with three days of in-person boot camp in Bengaluru, followed by four weeks of intensive online training.
- To apply for the program, startups must be either bootstrapped or have raised funding of less than $5 million, seek to raise Seed to Series A funding and have a minimum viable product (MVP) already developed.
- The cohort will receive training and mentorship sessions, including access to experts from PayU, ‘guiding them to scale their business operations and expand their customer base’.
Business and Economy
India's trade deficit falls to $20.13 bn in June from $22.1 bn in May
- India’s merchandise trade deficit in June fell to $20.13 billion from $22.1 billion in May.
- Merchandise exports stood at $32.97 billion, while imports were $53.10 billion in June.
- In the previous month, merchandise exports were $34.98 billion, while imports stood at $57.10 billion.
- Services exports in June were $27.12 billion, while imports were $15.88 billion. In May, services exports were $25.30 billion and imports were $13.53 billion.
- For the April-June period, services and merchandise exports fell 7.3 per cent year-on-year to $182.7 billion, while imports fell 10.2 per cent to $205.29 billion.
- WPI inflation eases to (-) 4.12% in June against (-) 3.48% in May.
Agreements and MoUs signed
International Financial Services Centres Authority (IFSCA) inks MoU with BITS Pilani PIEDS Finxcelerator
- International Financial Services Centers Authority (IFSCA) and PIEDS BITS Pilani, have signed a MoU at BITS Pilani PIEDS Finxcelerator, Pilani Campus in Rajasthan
- This MoU aims to put in place a framework for cooperation and understanding between IFSCA and BITS Pilani PIEDS Finxcelerator to collaborate in supporting and facilitating FinTech and TechFin entities.
- The IFSCA is responsible for development and regulation of international financial services, including that of insurance sector, in the IFSC, which is treated as a separate international financial jurisdiction, distinct from rest of India.
- IFSCA aims to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform at regional/ global level.
- The Pilani Innovation and Entrepreneurship Development Society (PIEDS) TBI BITS Pilani, Pilani Campus is a non-profit society, its initiatives are spread across incubation, acceleration, seed funding, and innovation.
- PIEDS has supported more than 170 startups, incubated 132 startups, and funded 62 startups.
- This MoU will enable cooperation and collaboration on diverse initiatives regarding FinTech.
- FinTechs registered with BITS Pilani PIEDS may be facilitated to access IFSCA’s Regulatory and Innovation Sandbox and apply to the IFSCA (FinTech Incentive) Scheme, 2022.
Summit and Conference
US India Energy Summit
- New & Renewable Energy Secretary Bhupinder Singh Bhalla addressed the US India Energy Summit.
- India has achieved 173GW of installed renewable energy capacity while another 120GW is under various stages of implementation.
- This assumes significance in view of India’s target of having 175 GW of renewable energy capacity by 2022, which included 100 GW from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro-power.
- India’s installed renewable capacity is 173.61GW which includes 67.82GW of solar, 43.19GW of wind energy, 46.85GW of large hydro and 4.94GW of small hydro (of up to 25MW each).
- Ministry of New and Renewable Energy – Raj Kumar Singh,Union Minister (Arrah, Bihar) – Bhagawanth,Minister of State (Bidar,Karnataka)
15th Conference of Central Council of Health and Family Welfare
- Union Minister of Health & Family Welfare Dr. Mansukh Mandaviya inaugurated a two day long Swasthya Chintan Shivir– the 15th Conference of Central Council of Health and Family Welfare, in Dehradun.
- Various books including Compendium of Best Practices, Ayushman Bharat, Health and Wellness Centres- Success Stories from the Field, Research to Action-The Insights and Policy implications, and Recommendations for Medical Rehabilitation of Persons Injured after an Earthquake were released at the inaugural event.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra)
Science and Technology
Chandrayaan-3 mission
- Chandrayaan-3 is the third lunar exploration mission by the Indian Space Research Organisation (ISRO).
- It consists of a lander and the Pragyan rover similar to Chandrayaan-2, but does not have an orbiter.
- Mission type – Lunar lander, rover, Propulsion Module
- Launch date – 14 July 2023 14:35 IST
- Rocket – LVM3 M4
- Launch site – Second Launch Pad (SLP) of Satish Dhawan Space Centre, Sriharikota
- Weight – 3900 kg (Propulsion Module: 2148 kg, Lander Module (Vikram): 1752 kg including Rover (Pragyan) of 26 kg)
- The journey from Earth to the moon for the spacecraft is estimated to take about a month and the landing is expected on August 23.
- Upon landing, it will operate for one lunar day, which is approximately 14 Earth days.
- One day on the Moon is equal to 14 days on Earth.
- Chandrayaan-2 – 22/07/2019 (LVM3 M1)
- Chandrayaan-1 – 22/10/2008 (PSLV-XL C11)
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
Soundarya, Kannada’s first AI news anchor debuts on Power TV
- Artificial Intelligence (AI) has finally entered Kannada newsrooms.
- 24/7 Kannada news channel Power TV launched Soundarya, Kannada’s first AI news presenter.
- Calling herself a “robot anchor”, Soundarya opened her debut news show by talking about AI’s impact on the TV news industry.
- Close on the heels of Power TV, another channel News First Kannada also launched their AI-assisted anchor, Maya.
- Karnataka – Bengaluru (Capital) – Basavaraj Bommai (CM) –Thawarchand Gehlot (Governor) – Kannada (Language)
J&K: Mobile-Dost-App launched in sync with vision of Apka-Mobile-Hamara-Daftar
- In Jammu and Kashmir, a path-breaking Mobile-Dost-App has been launched in sync with the vision of Apka-Mobile-Hamara-Daftar, a pioneering initiative for mobile-based delivery of citizen-centric services in the Union Territory.
- The Mobile-Dost-App aims at empowering the people of Jammu & Kashmir by providing a comprehensive platform to access all the Government to Citizen Services (G2C) directly from their mobile devices.
- With just a few taps, residents can now effortlessly avail a number of services, enhancing their daily lives and fostering an efficient, effective, and transparent governance system.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
Appointments
Justice Alexander Thomas took over as Acting Chief Justice of Kerala High Court
- Justice Alexander Thomas took over as the Acting Chief Justice of the Kerala High Court.
- He was appointed Acting Chief Justice, after former Chief Justice of the Kerala High Court, Justice S V Bhatti was elevated to the Supreme Court.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
Sheikh Talal Fahad Al-Sabah elected new President of Olympic Council of Asia
- Sheikh Talal Fahad Al Ahmad Al-Sabah was elected the new President of the Olympic Council of Asia at the 42nd OCA General Assembly in Bangkok, Thailand.
- Former Secretary General of the OCA, Randhir Singh of India, had led the OCA as Acting President since 2021.
Awards and Recognitions
PM Modi conferred with France's highest award Grand Cross of the Legion of Honour
- Prime Minister Narendra Modi has become the first Indian premier to have been conferred with the Grand Cross of the Legion of Honour, France’s highest civilian and military honour, by French President Emmanuel Macron.
- Modi received the honour at the Elysee Palace and joined the ranks of other prominent world leaders such as the former president of South Africa Nelson Mandela, King Charles – the then Prince of Wales, former Chancellor of Germany Angela Merkel, Boutros Boutros-Ghali, former Secretary General of the United Nations, among others.
- Established in 1802 by Napoleon Bonaparte, The Legion of Honour is divided into five classes (lower to higher).
- The colour of the ribbon is red and the badge is a five-armed Maltese asterisk hung on an oak and laurel wreath.
- Although the membership to the award is restricted to French nationals, foreign nationals who serve France or uphold its ideals may also be given a distinction of the Legion.
Sports News
ICC announces equal prize money for men's and women's teams at ICC events
- The International Cricket Council (ICC) announced equal prize money for men’s and women’s teams at ICC events.
- The decision was taken at the ICC Annual Conference in Durban, South Africa and ensures the ICC Board fulfilled its commitment to reaching prize money equity by 2030 well ahead of schedule.
- Teams will now receive equal prize money for the equivalent finishing position at comparable events as well as the same amount for winning a match at those events.
- The ICC Board also confirmed the largest-ever investment into the sport after the distribution model for the next four years was agreed.
- Every ICC Member will receive significantly enhanced funding with a strategic investment fund ring-fenced to drive global growth initiatives in line with the ICC Global Growth Strategy.
- International Cricket Council (ICC) – 15/06/1909 (Founded) – Dubai,UAE (HQ) – Greg Barclay (Chairman) – 108 countries
Asian Athletics Championships
- In the ongoing Asian Athletics Championships in Bangkok, India have so far won three gold and three bronze medals, in Thailand.
- India’s Jyothi Yarraji earlier won gold in 100m hurdles, whereas Abdulla Aboobacker won the gold in the men’s triple jump and Ajay Kumar Saroj in men’s 1500m.
- Tejaswin Shankar won the bronze medal in long jump 400m events and the other two bronze medalists are Abhishek Pal and Aishwarya Kailash Mishra in men’s 10000m and women’s 400m, respectively.
- With this India placed third on the medals table behind China and Japan.
- Thailand – Bangkok (Capital) – Pound Sterling (Currency) –Vajiralongkorn (Monarch) – Prayut Chan-o-cha (Prime Minister) – Baht (Language)
Minister of Sports and Youth Affairs Anurag Singh Thakur Unveils Trophy For Hero Asian Champions Trophy 2023
- Minister of Youth Affairs and Sports and Minister of Information & Broadcasting, Shri Anurag Thakur unveiled the coveted trophy for Hero Asian Champions Trophy, Chennai 2023 at the Major Dhyanchand National Stadium in New Delhi.
- Union Minister also launched ‘Pass the Ball Trophy Tour’ campaign on the occasion.
- Hero Asian Champions Trophy, Chennai 2023 will begin from August 3rd, 2023 where India, Korea, Malaysia, Japan, Pakistan, and China will vie for the Title.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
Hyderabad to host first international Open FIDE Rated Chess Tourney
- Hyderabad-based Sports Local Area Network (SLAN) is conducting the first-ever international FIDE rates chess tournament where more than 500 players will take part, from India and overseas including the US, Sri Lanka, Cyprus and Switzerland federations.
- Being held between July 21 and 25, and August 25 and 27, in two phases, the tournament is likely to give a big boost to the budding talent, upcoming players, and in particular to the chess scenario in Telangana and Andhra Pradesh.
Daily Current Affairs - July 14, 2023 - Consolidated
- Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurates the National Mega Conclave on FPO in the cooperative sector
- PM Narendra Modi participates in Bastille Day Parade in Paris as Guest of Honour
- PM Modi launches the Crematorium Redevelopment by Edifice Consultants in Varanasi
- Gujarat CM inaugurates projects worth Rs 482 crores
- Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM),
- Mangrove Initiative for Shoreline Habitats and Tangible Incomes (MISHTI) scheme
- Ama Odisha, Nabin Odisha scheme
- Bank of Baroda launches Mahila Samman Savings Certificate, a small savings scheme with 7.5% interest rate
- PayU, AWS India, Chiratae Ventures collaborate to launch fintech program
- India’s trade deficit falls to $20.13 bn in June from $22.1 bn in May
- International Financial Services Centres Authority (IFSCA) inks MoU with BITS Pilani PIEDS Finxcelerator
- US India Energy Summit
- 15th Conference of Central Council of Health and Family Welfare
- Chandrayaan-3 mission
- Soundarya, Kannada’s first AI news anchor debuts on Power TV
- J&K: Mobile-Dost-App launched in sync with vision of Apka-Mobile-Hamara-Daftar
- Justice Alexander Thomas took over as Acting Chief Justice of Kerala High Court
- Sheikh Talal Fahad Al-Sabah elected new President of Olympic Council of Asia
- PM Modi conferred with France’s highest award Grand Cross of the Legion of Honour
- ICC announces equal prize money for men’s and women’s teams at ICC events
- Asian Athletics Championships
- Minister of Sports and Youth Affairs Anurag Singh Thakur Unveils Trophy For Hero Asian Champions Trophy 2023
- Hyderabad to host first international Open FIDE Rated Chess Tourney
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