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Daily Current Affairs – July 22, 2023

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Daily Current Affairs - Banking - July 22, 2023

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National News

India’s share in world food grains market based on export values stands at 7.79% in 2022

  • India’s exports of foodgrains have registered a steady growth in last few years which is reflected in the increase in India’s share in world foodgrain exports from 3.38% in 2010 to 7.79% in 2022 as per UN COMTRADE statistics. 
  • Export promotion is a continuous process.
  • The Government has taken several steps at State/ District levels to promote exports of agriculture products, including foodgrains. State-specific Action Plans have been prepared and State Level Monitoring Committees (SLMCs), Nodal Agencies for agricultural exports and Cluster Level Committees have been formed in a number of States.
  • Country and product-specific action plans have also been formulated to promote exports.

MoRTH issues new guidelines for provision of signages on Expressways and NHs

  • Ministry of Road Transport & Highways (MoRTH) has issued new guidelines for the provision of signages on Expressways and National Highways.
  • The fresh guidelines, approved by Union Minister for Road Transport and Highways Shri Nitin Gadkari focus on further improving road safety by incorporating best practices and world standards to offer improved visibility and intuitive guidance to the drivers.
  • Road signages are essential components of road infrastructure as they provide vital information and instructions to drivers.
  • Accordingly, MoRTH has reviewed the provision of signages as per relevant IRC codes & guidelines, existing practices prescribed in various international codes as well as information and functionality perspective to ensure better compliance of traffic regulations.
  • The guidelines are designed to offer drivers clear and concise guidance, warnings, notices, and regulatory information, facilitating a seamless and safe journey on the roads.
  • Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh

International News

India, Sri Lanka to establish high-capacity power grid interconnection

  • India and Sri Lanka have agreed to establish high-capacity power grid interconnection between the two nations to enable bidirectional electricity trade between the island nation and other regional nations.
  • The bilateral document released by the Ministry of External Affairs (MEA) said, “To establish a high-capacity power grid interconnection between India and Sri Lanka to enable bidirectional electricity trade between Sri Lanka and other regional countries, including the BBIN countries, which has the potential to not only bring down the costs of electricity in Sri Lanka but also help create a valuable and dependable source of foreign exchange for Sri Lanka.
  • The MoU on cooperation in developing renewable energy would develop Sri Lanka’s significant renewable energy potential, including offshore wind and solar, according to the bilateral document.
  • The MoU will enable Sri Lanka to achieve its target of generating 70 per cent of power requirements from renewable energy sources by 2030.
  • The two nations have agreed to expedite the implementation of the understanding reached on the Sampur Solar power project and LNG infrastructure.
  • 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 to hand over missile corvette INS Kirpan to Vietnam

  • India will hand over its in-service missile corvette INS Kirpan to Vietnam in reflection of growing strategic partnership between the two sides.
  • Navy Chief Admiral R Hari Kumar, currently on an official visit to Vietnam, will preside over the ceremony at Cam Ranh to hand over the warship.
  • It is for the first time that India is gifting a fully operational corvette to any friendly foreign country.
  • INS Kirpan, an indigenously built Khukri-class missile corvette, is being handed over to Vietnam in line with Defence Minister Rajnath Singh’s announcement last month that India will gift an in-service missile corvette to the country.
  • Vietnam – Hanoi (Capital) – Vietnamese dong (Currency) – Võ Văn Thưởng (President) – Phạm Minh Chính (Prime Minister) – Vietnamese (Language)

State News

Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurates GST Bhawan at Agartala

  • Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurated the ‘GST Bhawan’, a project for CGST, CX and Customs Office, Agartala, Guwahati Zone under CBIC, at Agartala, Tripura.
  • The GST Bhawan is an Office complex in the Centre of Agartala City.
  • The project is located at one of the most preferred locations in Agartala.
  • The project sits at Mantri Bari Road, Agartala and has quick and easy access to all the taxpayers.
  • It is also located at a distance of about 10 km from newly created Agartala Airport complex.
  • The inauguration of project in Amrit Kaal during the Azadi Ka Amrit Mahotsav showcases the strength of New India.
  • Tripura – Agartala (Capital) – Manik Saha (CM) – Satyadev Narayan Arya (Governor) – Bengali, English, Kokborok (Language)

Rajasthan government tables country's first gig workers bill

  • Rajasthan government tabled the Rajasthan Platform Based GIG Workers (registration and welfare) Bill, 2023 – country’s first such – which seeks to guarantee social security to gig workers.
  • The bill provisions for monetary penalties if an aggregator fails to comply with the Act.
  • The state government may impose a fine up to Rs 5 lakh for the first contravention and up to Rs 50 lakh for subsequent contravention.
  • Under the bill, the state will constitute a ‘The Rajasthan Platform Based Gig Workers Welfare Board’ which will ensure registration of gig workers and aggregators operating in the state.
  • The bill also aims to set up a welfare fee deduction mechanism that will be integrated with the aggregator app.
  • The government also seeks to set up a monitoring mechanism to review compliance of provisions of the Act and to verify if the welfare fee is being deducted regularly.
  • Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) – Kalraj Mishra (Governor) – Hindi (Language)

Odisha Cabinet approves Rs 1,001 crore to build 11 comprehensive cancer care units across the state

  • Odisha state cabinet headed by Chief Minister Naveen Patnaik has approved a budget of Rs 1001.14 crore for expanding Comprehensive Cancer Services across the State It aims to provide cancer care facilities nearer to the household of the patients.
  • Eleven Comprehensive Cancer Care Units will be built up within a period of 2 years, Henceforth Patients will need not travel far or outside the State seeking advanced Cancer Care.
  • This will definitely reduce the out of pocket expenditure of the people suffering from Cancer and their family members.
  • The cabinet had also approved the provision of Rs 5700 crore for implementation of the State sector Scheme “Interest Subsidy-Subvention” to the Cooperative Banks / PACS for five years from 2023-24 to 2027-28 to ensure adequate credit flow in the agriculture at an affordable rate of interest to the farmers in the State.
  • Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)

Banking and Finance

Union Bank to sell 8 NPA accounts worth Rs 3,000 crores to NARCL

  • Union Bank of India has identified eight troubled accounts worth Rs 3,000 crore to be sold to the national bad bank NARCL this fiscal.
  • The lender has more than doubled its net income at Rs 3,236 crore in the June 2023 quarter on improved asset quality and recoveries.
  • The city-based bank had already sold three accounts worth Rs 900 crore last fiscal to the national bad bank at a recovery of 33 per cent.
  • We have sort of identified as many as 42 troubled accounts with an outstanding of Rs 10,000 crore to be sold to the National Asset Reconstruction Company (NARCL).
  • Union Bank of India – 11/11/1919 (Founded) – Mumbai (HQ) – A. Manimekhalai (MD & CEO) – “Good People to Bank with”

PFC to lend Rs 2.37 lakh crores to 20 clean energy projects

  • Power Finance Corporation (PFC) has entered into loan agreements worth more than Rs 2.37 lakh crore with 20 companies.
  • These firms include Adani Group, Greenco, ReNew Power, Continuum, Avaada, JBM Auto, Rajasthan Renewable Energy and Megha Engineering & Infrastructure, among others.
  • These agreements — part of the Maharatna company’s plan to position itself as the focal funding agency for energy transition — were signed with companies in the solar, wind, green hydrogen, battery storage, and electric vehicles space as well as manufacturers of green energy equipment.

DPIIT holds Logistics Data Bank Project Meeting to review performance

  • The Department for Promotion of Industry and Internal Trade (DPIIT) held a Logistics Data Bank Project (LDB) Meeting to review the measures taken by Port Authorities to improve port performance.
  • While chairing the meeting, Special Secretary (Logistics), DPIIT, Ms. Sumita Dawra highlighted the significance of adopting a holistic approach to improving productivity of ports in order to achieve the USD 2.5 trillion EXIM target by 2030.
  • Development of infrastructure on PM GatiShakti principles for adequate last and first mile connectivity, improvement of logistics services and enhancing port capacities to handle requisite trade volumes, etc. to be focus areas for port-level strategic planning and future development.
  • The meeting saw participation from Officials from the Department of Commerce (DoC), Central Bureau of Indirect Taxes and Customs (CBIC), Ministry of Ports, Shipping and Waterways (MoPSW), National Industrial Corridor Development Corporation Limited (NICDC) and twelve Port Authorities.
  • Ministry of Commerce and Industry – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Anupriya Patel, Minister of State (Mirzapur,UP), Som Parkash, Minister of State (Hoshiarpur,Punjab)

Agreements and MoUs signed

ACME Group inks MoUs worth ₹21,000 crore with REC

  • ACME Group has signed a Memorandum of Understanding (MoU) with State-run REC amounting to over ₹21,000 crore of loans for setting up various power- green ammonia and pumped hydro projects.
  • The group signed the MoU with REC amounting to more than ₹21,000 crore of loans for setting up a 380 MW round the clock renewable power project, phase one of Odisha and phase one of Tamil Nadu green ammonia projects and 600 MWh of pumped hydro projects.
  • The MoU was formalised during the 14th Clean Energy Ministerial and 8th Mission Innovation meeting (CEM14/MI-8) held in Goa.
  • The company also secured a ₹4,000 crore loan from REC for its green hydrogen and green ammonia project in Oman.

FSSAI and AOAC INTERNATIONAL Join Forces to Strengthen Food Safety Analytical Ecosystem in India

  • The Food Safety & Standards Authority of India (FSSAI) and AOAC INTERNATIONAL (AOAC) have signed a Memorandum of Understanding (MoU) to collaborate and enhance the food safety analytical ecosystem in India.
  • The MoU signing ceremony took place at the FSSAI headquarters in New Delhi, in the presence of esteemed dignitaries, including G. Kamala Vardhana Rao, CEO of FSSAI, Satyen Kumar Panda, Advisor (Quality Assurance) FSSAI, Shrinvas Joshi, President, AOAC-India Section, Dr Ganesh Ramamurthi – President-Elect, AOAC-India Section, and Dr Saurabh Arora – Director, AOAC-India Section.
  • Food Safety and Standards Authority of India (FSSAI) – 05/09/2008 (Founded) – New Delhi (HQ) – Shri Rajesh Bhushan (Chairman)

Summit and Conference

National Conference On Rural WASH Partners' Forum

  • The Union Minister for Jal Shakti, Shri Gajendra Singh Shekhawat inaugurated a two-day National Conference on Rural WASH Partners’ Forum (RWPF) at Vigyan Bhawan in New Delhi, to celebrate 1st anniversary of formation of RWPF. 
  • The theme of the conference is ‘Accelerating Progress towards a Swachh Sujal Bharat’.
  • RWPF is a platform set up by the Department of Drinking Water and Sanitation (DDWS) in collaboration with KPMG India for Development/ Sector Partners working in rural WASH space of India.
  • The main objective of the Forum is to support the expeditious implementation of the Jal Jeevan Mission (JJM) and Swachh Bharat Mission-Grameen (SBM-G), the flagship missions of DDWS, Ministry of Jal Shakti, Govt. of India.
  • The Forum has brought organizations working in the rural WASH sector under one umbrella for better collaboration & synergy, besides creating an environment of learning and knowledge sharing, finding scalable and cost-effective solutions, sharing best practices & success stories while avoiding overlap in efforts.
  • He released the compendium of 75 ODF Plus Best Practices, at the two-day National Conference of Rural WASH Partners Forum (RWPF).
  • The compendium, titled Swachhata Chronicles: Transformative Tales from India, showcases the innovations, measures taken to overcome barriers and raise awareness, special campaigns launched, and other endeavours of States/UTs in various ODF Plus activities in order to meet the goals of SBM-G Phase-II.
  • Ministry of Jal Shakti – Gajendra Singh Shekhawat,Union Minister (Jodhpur,Rajasthan) – Prahlad Singh Patel,Minister of State (Damoh,MP) & Bisweshwar Tudu,Minister of State (Mayurbhanj,Odisha)

2-day Global Food Regulators Summit 2023

  • The Global Food Regulators Summit was inaugurated by Dr. Mansukh Mandaviya, Union Minister for Health and Family Welfare.
  • Shri Suman Berry, Vice-Chairman, NITI Aayog addressed the concluding session of the Global Food Regulators Summit 2023 in the presence of Prof. S P Singh Baghel, Union Minister of State for Health and Family Welfare.
  • Hosted by the Food Safety and Standards Authority of India (FSSAI) under the aegis of the Ministry of Health and Family Welfare (MoHFW), the summit featured keynote addresses and technical sessions focused on global food safety and regulatory frameworks.
  • This summit has been a pivotal platform for international cooperation in addressing food safety challenges.
  • 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

ISRO, Navy conduct harbour recovery trials for Gaganyaan human spaceflight mission

  • Recovery trial operations of the Gaganyaan mission has entered into the second phase with the commencement of harbour trials at the Naval Dockyard, Visakhapatnam.
  • Indian Space Research Organisation (ISRO) and Indian Navy jointly carried out the trials on July 20 with the ship identified for the recovery operations during the first Development Mission of the Test Vehicle.
  • The trials were conducted at the Eastern Naval Command in Andhra Pradesh’s Visakhapatnam, using a mass and shape simulated Crew Module Mockup.
  • This mockup was a crucial component in the testing process, ensuring that the recovery procedures accurately simulated conditions.
  • Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)

TRAI imposes penalty of Rs 35 crores on telcos for violating pesky call, sms norms

  • Telecom regulator Trai has imposed a penalty of Rs 34.99 crore on service providers for failing to curb pesky calls and sms on their network.
  • Telecom operators have disconnected 15,382 and 32,032 connections during the calendar year- 2021 and 2022, respectively, for violating Telecom Commercial Communication Customers Preference Regulation (TCCCPR), 2018.
  • TRAI has imposed financial disincentives of Rs 34,99,98,000 on the Access Service Providers for failing to curb unsolicited commercial communications in their networks from Registered Telemarketers.
  • Ministry of Communications and Information Technology – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Devusinh Chauhan, Minister of State (Kheda, Gujarat)

Appointments

Namgya Khampa concurrently accredited as India's next Ambassador to Somalia

  • Namgya C Khampa, India’s High Commissioner to Kenya, has been concurrently accredited as India’s next Ambassador to Somalia.
  • Before taking over as High Commissioner of India to Kenya, Namgya C Khampa served as Deputy Chief of Mission in Kathmandu, Nepal.
  • She has served twice in India’s diplomatic Mission in China from 2002 to 2006 and from 2013 to 2016.
  • Somalia – Mogadishu (Capital) – Somali shilling (Currency) – Hassan Sheikh Mohamud (President) – Hamza Abdi Barre (Prime Minister) – Somali & Arabic (Language)

MEA appoints Sandeep Chakravorty as India's next Ambassador to Indonesia

  • Sandeep Chakravorty, an Indian Foreign Service (IFS) Officer of the 1996 batch, has been appointed as India’s next Ambassador to Indonesia.
  • Sandeep Chakravorty is currently serving as a Joint Secretary in the Ministry of External Affairs (MEA).
  • Indonesia – Jakarta (Capital) – Indonesian rupiah (Currency) – Joko Widodo (President) – Indonesian (Language)

Important Days

World Brain Day 2023

  • National Maritime Day is celebrated on April 5 across the country to commemorate the sailing of the first Indian commercial vessel, SS Loyalty which sailed from Mumbai to London.
  • The Ministry of Ports, Shipping and Waterways started this day in 1964.
  • Edition – 60th
  • Theme – “Amrit Kaal in Shipping” (‘Golden Era in Shipping’)
  • 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)

National Mango Day 2023

  • The National Day of the Mango is celebrated every year on July 22.
  • The National Horticulture Board of India came up with the idea for the International Mango Festival in 1987 as a way to honour the adored mango.

Pi Approximation Day 2023

  • Pi Approximation Day is celebrated on July 22 every year.
  • There is an interesting fact why Pi Approximation Day is celebrated on this date. When placed in the date/month format, July 22 looks like 22/7 – this is an approximate value of Pi.
  • The date is significant for more reasons as well – Physicist Albert Einstein was also born on July 22.
  • Theoretical Physicist Stephen Hawking passed away on July 22, 2018.

Daily Current Affairs - July 22, 2023 - Consolidated

  • India’s share in world food grains market based on export values stands at 7.79% in 2022
  • MoRTH issues new guidelines for provision of signages on Expressways and NHs
  • India, Sri Lanka to establish high-capacity power grid interconnection
  • India to hand over missile corvette INS Kirpan to Vietnam
  • Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman inaugurates GST Bhawan at Agartala
  • Rajasthan government tables country’s first gig workers bill
  • Odisha Cabinet approves Rs 1,001 crore to build 11 comprehensive cancer care units across the state
  • Union Bank to sell 8 NPA accounts worth Rs 3,000 crores to NARCL
  • PFC to lend Rs 2.37 lakh crores to 20 clean energy projects
  • DPIIT holds Logistics Data Bank Project Meeting to review performance
  • ACME Group inks MoUs worth ₹21,000 crore with REC
  • FSSAI and AOAC INTERNATIONAL Join Forces to Strengthen Food Safety Analytical Ecosystem in India
  • National Conference On Rural WASH Partners’ Forum
  • 2-day Global Food Regulators Summit 2023
  • ISRO, Navy conduct harbour recovery trials for Gaganyaan human spaceflight mission
  • TRAI imposes penalty of Rs 35 crores on telcos for violating pesky call, sms norms
  • Namgya Khampa concurrently accredited as India’s next Ambassador to Somalia
  • MEA appoints Sandeep Chakravorty as India’s next Ambassador to Indonesia
  • World Brain Day 2023
  • National Mango Day 2023
  • Pi Approximation Day 2023

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