Daily Current Affairs – July 19, 2023
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Daily Current Affairs - Banking - July 19, 2023
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National News
India to cut import duty on Washington apples to 50% by September end
- Centre has decided to abolish the retaliatory tariff of 20 per cent on Washington apples by the end of September.
- The government imposed the tariff on the red and juicy variety of fruit around four years ago when President Trump was in power.
- An import duty of 70 per cent is imposed on Washington apples, which is 20 percentage points more than the 50 per cent import duty applicable for the apples imported from Iran and Turkey.
- The higher duties resulted in a higher price for these apples leading to a decline in their imports.
- 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)
NHAI to auction 300 km of road assets
- National Highway Authority of India (NHAI), which has been aggressively monetizing its road assets, has come out with 300-km road stretch to be auctioned under the Tolling, Operation, Maintenance and Transfer (TOT) Model.
- Roads under ToT 13 & 14 include 28-km long Kota Bypass (NH76) and 81-km long Gwalior-Jhansi (NH75) under ToT13; and 60-km long Delhi-Meerut Expressway (NH-334 DME), 51-km long Delhi-Hapur section (NH-24 & part of DME) and 79-km long Binjabahal-Teleibani road (NH6).
- Bids are expected by September.
- National Highways Authority of India (NHAI) – 1995 (Founded) – New Delhi (HQ) -Santosh Kumar Yadav (Chairman)
International Symposium on Sustainable Livestock Transformation
- Under the aegis of Azadi Ka Amrit Mahotsav and the Agriculture Working Group (AWG) of G20, Shri Parshottam Rupala, Union Minister of Fisheries, Animal Husbandry & Dairying inaugurated an International Symposium on Sustainable Livestock Transformation at NDDB, Anand.
- The 2 days long symposium was aimed to foster insightful discussions and deliberations on the transformation to more efficient and sustainable agri-food systems, with a particular focus on the livestock sector.
- Distinguished experts, policymakers, and stakeholders from the G20 who participated in the event exchanged knowledge, shared experiences, and explored innovative approaches to ensure the sustainability of the livestock sector.
- The symposium was highlighted as a milestone event, driving transformative change in the livestock sector and fostering collaborations for a sustainable future.
- Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)
International News
Tatas to set up first electric battery giga plant outside India in UK
- The Tata Group, which owns Jaguar-Land Rover (JLR), plans to invest 4 bn pounds (around $5.2 bn) in an electric car battery factory to produce 40 GWh cells annually in the UK.
- This would be the first gigafactory for electric batteries by Tata’s outside of India.
- JLR and Tata Motors would be the anchor customers with supplies commencing from 2026.
- This would be one of the largest ever investments in the UK automotive sector.
- United Kingdom – London (Capital) – Pound Sterling (Currency) – Charles III (Monarch) – Rishi Sunak (Prime Minister) – English (Language)
State News
Chachin Grazing Festival Celebrated with Great Zeal in Arunachal Pradesh
- Chachin grazing festival was celebrated with great fervour by the local graziers of Tawang region near Bumla Pass, Arunachal Pradesh from July 14-15.
- The two-day event held at Chachin saw enthusiastic participation from Graziers from all over the Tawang region.
- Chachin and other traditional grazing areas, near Bumla Pass have historically served as the backbone of the local Monpa lifestyle that is largely dependent on nomadic herding – a primitive form of subsistence farming – as means of livelihood, the release stated.
- The festival featured a medical camp for aiding the local graziers who often live in remote locations without the medical facilities prevalent in urban areas.
- Arunachal Pradesh – Itanagar (Capital) – Pema Khandu (CM) – Kaiwalya Trivikram Parnaik (Governor) – English (Language)
West Bengal govt to build Rs 65-crores greenfield modern dairy project at Haringhata
- The West Bengal government will build a greenfield modern dairy project worth Rs 65.48 crore at Haringhata in Nadia district, the first since 1970s.
- Ice Make Refrigeration Limited has received the turnkey contract from West Bengal Livestock Development Corporation Limited (WBLDCL), which is the executing agency for Banglar Dairy Ltd, owned by the state government’s animal resources department.
- West Bengal – Kolkata (Capital) – Mamata Banerjee (CM) – C. V. Ananda Bose (Governor) – Bengali & English (Language)
TN CM Stalin laid foundation for Sol India’s ₹145 crore new plant
- Sol India Pvt Ltd, an industrial and medical gas manufacturer, and supplier, will set up an integrated, state-of-the-art new gas manufacturing plant at a cost of ₹145 crore at SIPCOT, Ranipet.
- Tamil Nadu Chief Minister MK Stalin has laid the foundation for the new plant.
- Formerly known as Sicgilsol India Pvt Ltd, Sol India is a 50-50 joint venture between Sicgil India Ltd, and SOL SpA., an Italy-based global gas manufacturer. Sol India is into the manufacture and supply of medical, industrial, pure and specialty gases such as Oxygen, Nitrogen, Argon, Helium, and Hydrogen to name a few.
- The company also designs and manufactures and supplies gas and bulk storage tanks, pressure reduction stations, centralised gas distribution systems.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Schemes
Karnataka govt to spend Rs 52,000 crores schemes, retain fiscal deficit at 2.6%
- The Siddaramaiah government has projected to spend around Rs 52,000 crore in the Congress five poll guarantees but even then it managed to retain the fiscal deficit at 2.6 per cent of the gross state domestic product (GSDP) for 2023-24, the same as was pegged by the previous Bommai government in the full budget for the current financial year.
- Through five guarantees, in a year, approximately Rs. 52,000 crore will be spent and it is expected to reach about 13 million families.
- This means the government will be providing on average additional financial assistance of Rs. 4000 to Rs. 5000 monthly to each household, which is about Rs. 48,000 to Rs. 60,000 every year.
- The five guarantees are 200 units of free power to all households (Gruha Jyoti), Rs 2,000 monthly assistance to the woman head of every family (Gruha Lakshmi), 10 kg of rice free to every member of a below poverty line (BPL) household (Anna Bhagya), Rs 3,000 every month for unemployed graduate youth and Rs 1,500 for unemployed diploma holders (YuvaNidhi) and free travel for women in public transport buses (Shakti).
- Karnataka – Bengaluru (Capital) – Basavaraj Bommai (CM) –Thawarchand Gehlot (Governor) – Kannada (Language)
Banking and Finance
€500 million in EU’s first phase funding for India green energy
- European Investment Bank (EIB), the lending arm of the European Union, plans to invest about €1 billion in India’s renewable energy sector.
- The investment will be made in renewable sectors involving green hydrogen and solar panels.
- India is the largest investment destination of EIB outside Europe.
- So far EIB has made about €4 billion investment in India.
- Of this, about €3 billion is in the infrastructure sector, particularly in public transport infrastructure like metro rail projects.
- EIB has funded metro rail projects in Agra, Lucknow, Kanpur, Bengaluru, Bhopal and Pune.
Cashfree Payments launches service to improve payment options visibility
- Cashfree Payments has launched a service that enables businesses to increase the visibility of payment options for customers.
- ‘BNPL Plus’ is a widget that integrates on a company’s website and helps it in reducing customer drop-offs by 30 per cent.
- It can be used to display payment options on the websites of direct-to-consumer (D2C) companies.
- Cashfree Payments is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm, and Google Pay.
- Apart from India, Cashfree Payments products are used in eight other countries including the USA, Canada, and UAE.
Business and Economy
ADB retains India's growth forecast at 6.4 percent for current financial year
- The Asian Development Bank (ADB) retained India’s economic growth forecast at 6.4 percent for the current financial year and 6.7 percent for the next year.
- It forecast 3.6 percent inflation this year for developing economies in Asia, and 3.4 percent in 2024.
- The Indian economy grew 7.2 percent in the 2022-23 fiscal ended March 2023.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 68 countries
Summit and Conference
Global Food Regulators Summit 2023
- Union Health Minister Dr. Mansukh Mandaviya will inaugurate the Global Food Regulators Summit 2023 in New Delhi.
- The two-day summit is aimed at creating a global platform for regulators on enhancing food safety systems and regulatory frameworks through collaboration.
- It will provide an opportunity to exchange knowledge and strategies for ensuring safe food throughout the food value chain.
- Considering the evolving landscape of emerging food hazards, new technologies and changing consumer needs, the summit envisages developing a cohesive approach on food safety policy frameworks.
- The event will have several technical sessions including on global regulatory framework, challenges and solutions for global food safety and impact of animal feed on food safety and human health.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra)
Appointments
ENVOYS OF FIVE NATIONS PRESENT CREDENTIALS TO THE PRESIDENT OF INDIA
- The President of India, Smt Droupadi Murmu accepted credentials from the Ambassadors of Chad, Burundi, Finland, Angola and Ethiopia at a ceremony held at Rashtrapati Bhavan.
- E. Mrs Dillah Lucienne, Ambassador of the Republic of Chad
- E. Brigadier General Aloys Bizindavyi, Ambassador of the Republic of Burundi
- E. Mr Kimmo Lahdevirta, Ambassador of the Republic of Finland
- E. Mr Clemente Pedro Francisco Camenha, Ambassador of the Republic of Angola
- E. Mr Demeke Atnafu Ambulo, Ambassador of the Federal Democratic Republic of Ethiopia
Ranks and Indices
Henley Passport Index
- According to the latest Henley Passport Index, Singapore has claimed the top spot as the world’s most powerful passport in 2023, granting visa-free access to 192 countries.
- The previous title holder, the Japanese passport, slipped to the third position, now sharing it with Austria, Finland, France, Luxembourg, South Korea, and Sweden.
- Meanwhile, India has made progress, climbing to the 80th spot along with Senegal and Togo.
- Indian passport holders now enjoy visa-free access to 57 destinations, an improvement from the 83rd position in 2022.
- At the other end of the spectrum, Syria, Iraq, and Afghanistan possess the weakest passports, ranking 101st, 102nd, and 103rd, respectively.
- Pakistan stands at the 100th spot.
- The Henley Passport Index compares visa-free access for 199 passports across 227 travel destinations.
- The index assigns a score based on whether a visa is unnecessary, obtainable upon arrival, or through an electronic travel authority.
Awards and Recognitions
IIT-Madras professor honoured with International Eni Award
- T.Pradeep, professor in the Department of Chemistry of the Indian Institute of Technology Madras (IIT-M) has been selected for the International Eni Award.
- Instituted by the Italian energy company Eni, the award is in recognition of his work on sustainable and affordable nanoscale material for removing toxic contaminants from water.
- Some Nobel laureates and Bharat Ratna award-winner C. N. R. Rao won the award in the past.
Sports News
Indian Shuttler Satwiksairaj Rankireddy sets Guinness world record for fastest badminton shot
- Star Indian Shuttler Satwiksairaj Rankireddy has set the Guinness world record for the fastest shot by a male player in badminton, recording a mindboggling 565 kilometres per hour with his smash during the game.
- Satwik, who along with his partner Chirag Shetty won the Indonesia Open recently, broke a decade-long record set in May 2013 by Malaysian Tan Boon Heong, who had produced a speed of 493 kilometres per hour with his smash.
- Malaysia’s Tan Pearly set the Guinness world record for the fastest female badminton hits with a remarkable speed of 438 kilometres per hour.
Daily Current Affairs - July 19, 2023 - Consolidated
- India to cut import duty on Washington apples to 50% by September end
- NHAI to auction 300 km of road assets
- International Symposium on Sustainable Livestock Transformation
- Tatas to set up first electric battery giga plant outside India in UK
- Chachin Grazing Festival Celebrated with Great Zeal in Arunachal Pradesh
- West Bengal govt to build Rs 65-crores greenfield modern dairy project at Haringhata
- TN CM Stalin laid foundation for Sol India’s ₹145 crore new plant
- Karnataka govt to spend Rs 52,000 crores schemes, retain fiscal deficit at 2.6%
- €500 million in EU’s first phase funding for India green energy
- Cashfree Payments launches service to improve payment options visibility
- ADB retains India’s growth forecast at 6.4 percent for current financial year
- Global Food Regulators Summit 2023
- ENVOYS OF FIVE NATIONS PRESENT CREDENTIALS TO THE PRESIDENT OF INDIA
- Henley Passport Index
- IIT-Madras professor honoured with International Eni Award
- Indian Shuttler Satwiksairaj Rankireddy sets Guinness world record for fastest badminton shot
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