Daily Current Affairs – June 10, 2023
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Daily Current Affairs - Banking - June 10, 2023
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Schemes
‘Ladli Bahna’ scheme
- Madhya Pradesh government is launching a unique scheme to make women financially independent.
- In this scheme, named Ladli Bahna, each woman will be given 1000 rupees per month.
- Chief Minister Shivraj Singh Chouhan will deposit the first month’s amount of this scheme in the bank accounts of about 1.25 crore women at a State-level function in Jabalpur.
- Ladli Bahna Yojana was announced on the 5th of March 2023 and in about 35 days more than one crore 25 lakh women have filled the applications for the enrollment under this scheme.
- The State government has also issued a phone number 181 for the help of women.
- Apart from this, Ladli Bahna Army will also be formed for women empowerment and security.
- This Army will help in providing security to women and take benefits of government schemes.
- The Mukhyamantri Ladli Bahna Yojana is launched in the State with the goals of enhancing women’s economic independence, improving their health and nutrition status and expanding their influence over family decisions.
- Madhya Pradesh – Bhopal (Capital) – Shivraj Singh Chouhan (CM) – Mangubhai C. Patel (Governor) – Hindi (Language)
Machkund Hydro Electric Scheme
- Andhra Pradesh Generation Corporation (APGenco) and Odisha Hydro Power Corporation (OHPC) will jointly construct three new projects with an aggregate capacity of 98 MW on the upstream and downstream of Machkund Project.
- A mutual consensus was reached in this regard in the first Project Administration Committee (PAC) meeting with officials of the Governments of AP and Odisha, APGenco & OHPC in Bhubaneswar.
- This is in line with an agreement concluded between the Governments of AP and Odisha, APGenco and OHPC on Machkund Hydro Electric (Joint) Scheme in October 2023.
- An internal committee to study the sharing of employees in a 50:50 ratio between AP Genco & OHPC will be formed which would submit its report within 30 days.
- The Odisha government officials agreed to look into the matter for waiver of the levy of Electricity Duty on Auxiliary consumption in Machkund Hydro Electric Joint Project.
- Andhra Pradesh – Amaravati (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)
- Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)
Banking and Finance
Go Digit Life Insurance received IRDAI's approval to start business
- The Insurance Regulatory & Development Authority of India has granted certificate of registration to Go Digit Life Insurance to start business in India.
- With this, the number of insurers operating in life insurance segment has gone up to 26.
- This is the fourth registration granted by IRDAI in last one year in Life and Non-life segment.
- Insurance Regulatory and Development Authority of India (IRDAI) – 1999 (Founded) – Hyderabad (HQ) – Debasish Panda (Chairman) – Ministry of Finance (Under)
Tata Motors and HSBC partner to promote EV adoption
- HSBC India announced that it has partnered with Tata Motors for a corporate employee financing solution to accelerate the adoption of zero-emission Electric Vehicles.
- This partnership is in line with the shared vision of the two conscientious organisations to promote sustainability and de-carbonise road transport.
- Consumers holding a salaried account with HSBC India will get a chance to apply for this tailor-made loan to purchase an electric vehicle of their choice from Tata Motors’ EV portfolio.
- As a part of this scheme, customers will be able to apply for a loan with zero down payment, no hypothecation, low processing fee and no documentation charges, amongst others, making the overall EV buying procedure not only simple but highly attractive for all prospective customers.
- Hongkong and Shanghai Banking Corporation Limited, India (HSBC India) or HSBC Bank India – 1853 (Founded) – Mumbai (HQ) – Hitendra Dave (CEO)
Business and Economy
Tata Motors Finance, Pasco Motors to introduce digital credit facility for CV servicing and maintenance
- Tata Motors Finance, one of India’s leading NBFC pioneering in the vehicle finance industry, and Pasco Motors, a authorised dealer of Tata Motors in North India will introduce what they claim is an industry-first strategic partnership to offer a seamless digital credit line for an array of maintenance and servicing needs of commercial vehicles.
- The development was jointly announced by Sanjay Passi, Chairman, Pasco Group and Samrat Gupta, MD & CEO, Tata Motors Finance.
- This move will empower fleet owners, their ecosystem and commercial vehicle users to avail on-the-spot credit line through Tata Motors Finance’s Customer One app.
- This is exclusively available across all Pasco Motors service centres for vehicle repairs, spare part replacements, and AMC services.
- Tata Motor Finance – June 2006 (Founded) – Thane (HQ) – Samrat Gupta (MD & CEO)
Agreements and MoUs signed
IICA and RRU signed MoU to synergise professional capabilities
- A Memorandum of Understanding (MoU) was signed between Indian Institute of Corporate Affairs (IICA) and Rashtriya Raksha University (RRU).
- The MoU intends to synergise the professional capabilities of IICA and RRU towards capacity building, education, research and consulting in the domain of Internal Security, Financial Crimes, Law Enforcement, Corporate Frauds and other subject matters common to their mandate and objectives.
- The MoU also provides for exchange of knowledge and resources between IICA and RRU for conducting research, training and consultancy.
Power
Power Ministry planned ₹40,000 crores transmission infrastructure to evacuate RE power from Gujarat, Rajasthan
- The Ministry of Power has chalked out ₹40,000 crores capital investment for building transmission infrastructure to evacuate renewable power from Gujarat and Rajasthan.
- The government plans to spend ₹18,598 crore for Khavda hybrid renewable energy park in Gujarat and ₹19,483 crore for the Jaisalmer-Barmer region of Rajasthan.
- The Khavda hybrid renewable energy park in Gujarat is expected to be the home for 30 GW of wind and solar energy.
- The government is currently working on Phase-IV of the broad programme, in which phase transmission infrastructure will be built to evacuate 7 GW of renewable power.
- The Jaisalmer-Barmer complex is expected to house 5.5 GW.
- These were among the projects taken up for discussions by the National Committee on Transition (NCT).
- Ministry of Power – Raj Kumar Singh,Union Minister (Arrah, Bihar)
NHDC will construct 525 MW pumped storage power project in Khandwa, MP
- The Ministry of Power announced the Narmada Hydroelectric Development Corporation Ltd (NHDC Ltd.) will construct a 525 MW pumped storage project near the Indira Sagar Dam in Khandwa, Madhya Pradesh.
- The project will use the existing reservoirs of Indira Sagar and Omkareshwar, which are part of the Indira Sagar Project.
- The power ministry said the project is being executed to meet the increasing peak-hour demand for energy in Madhya Pradesh.
- The pumped storage project will generate renewable energy that can be used to meet the state’s energy needs during peak energy hours.
- The project is expected to generate 1.2 billion units of energy during peak hours and is estimated to cost Rs 4,200 crore (approximately $550 million).
- NHDC Limited has been allotted this project by the Department of New & Renewable Energy, Government of Madhya Pradesh.
Acquisitions and Mergers
CPPIB sold 1.66% stake in Kotak Mahindra Bank for Rs 6,123 crores
- Canada Pension Plan Investment Board divested around 1.7 per cent stake in private lender Kotak Mahindra Bank for Rs 6,123 crore through an open market transaction.
- Canada Pension Plan Investment Board (CPPIB) offloaded 3.30 crore shares, amounting to a 1.66 per cent stake in Kotak Mahindra Bank.
- The shares were sold at an average price of Rs 1,855.64 apiece, taking the transaction value to Rs 6,123.61 crore.
- Kotak Mahindra Bank – 21/11/1985 (Founded) – Mumbai (HQ) – Uday Kotak (MD & CEO) – “Let’s Make Money Simple” (Tagline)
Appointments
Transunion Cibil appointed V Ananthraman as non-executive chairman
- Credit bureau TransUnion CIBIL has appointed banker V Anantharaman as non-executive chairman.
- Anantharaman has worked in the banking industry for over three decades having led corporate and investment banking teams in leading international firms including Standard Chartered Bank, Credit Suisse, Deutsche Bank and Bank of America.
SUGAR POP roped in Shehnaz Gill as brand ambassador
- SUGAR POP Beauty, announced Bollywood actress Shehnaaz Gill as its brand ambassador.
- The partnership between Gill and the brand is expected to create opportunities for mass customer acquisition, especially with the Gen Alpha and Gen Z audiences in India that are new to makeup.
Reports
Report of the World Health Organisation
- A report of the World Health Organisation (WHO) has highlighted significant impacts of ‘Har Ghar Jal’ program on public health and economic savings.
- The role of safe drinking water in saving lives, empowering women and girls and contributing to ease of living, has been tremendous.
- The Government of India’s investment in Jal Jeevan Mission has a significant multiplier effect on health.
- The report has said that ensuring safely managed drinking water for all households in the country could avert nearly 400,000 diarrhoeal disease deaths and with universal coverage of safely managed drinking water in India, almost 14 million Disability Adjusted Life Years from diarrhoeal disease are estimated to be averted, resulting in estimated cost savings of up to $101 billion.
- The groundbreaking report of the WHO was launched on 9th June.
- On this occasion, Dr Paul said that no programme has this kind of direct impact on improving the lives of individuals and families physically, mentally, and financially.
- The ‘Har Ghar Jal’ report focuses on diarrheal diseases as they contribute significantly to the overall disease burden related to water, sanitation, and hygiene (WASH) issues.
- The analysis underscores the urgent need to address these diseases and the potential for substantial gains in public health and economic well-being.
- The report has underlined the challenges faced by the people before this programme was launched.
- It has said, prior to 2019, the situation of water supply in rural areas was challenging.
- The report reveals that in 2018, 36% of India’s total population including 44% of the rural population, lacked access to improved drinking-water sources on their premises.
- According to the report, the direct consumption of unsafe drinking water had severe health and societal consequences.
- The analysis indicates that in 2019, unsafe drinking water along with inadequate sanitation and hygiene, contributed to 1.4 million deaths and 74 million DALYs globally.
- World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)
Awards and Recognitions
FIPI Oil & Gas Awards 2022
- Bharat Petroleum Corporation Limited (BPCL), a leading ‘Maharatna’ and Fortune Global 500 Company, has been recognized at the highly esteemed FIPI Oil & Gas Awards 2022 by securing five coveted accolades.
- The awards were presented by Shri. Hardeep Singh Puri, Hon’ble Minister of Petroleum and Natural Gas and Housing & Urban Development, Government of India.
- The FIPI Oil and Gas Awards are a testament to the industry’s remarkable achievements and serve as a platform to honor exemplary contributions.
- BPCL’s outstanding performance and dedication to excellence were recognized in multiple award categories, highlighting the company’s commitment to innovation, customer-centric initiatives, and operational excellence.
- Ministry of Petroleum and Natural Gas – Hardeep Singh Puri,Cabinet Minister (Rajya Sabha MP,UP) – Rameshwar Teli, Minister of State (Dibrugarh,Assam)
Obituary
Soccer-Former South Africa coach Clive Barker passed away
- Clive Barker, the charismatic coach who ensured success for South Africa at the Africa Cup of Nations and got them into their first World Cup finals passed away at 78.
- South Africa – Pretoria (executive), Cape Town (legislative) & Bloemfontein (judicial) (Capital) – Zulu, Xhosa, Afrikaans, English, Sepedi, Swazi, Sesotho, Setswana, Xitsonga, Tshivenda, Ndebele, South African Sign Language (Language) – Cyril Ramaphosa (President) – Amos Masondo (Chairperson of the National Council) – South African rand (Currency)
Sports News
FIFA announced AB InBev as official beer sponsor of FIFA Women’s World Cup 2023 and FIFA World Cup 2026
- AB InBev has extended its 40-year partnership with FIFA as the official beer sponsor of the FIFA Women’s World Cup 2023 and the FIFA World Cup 2026.
- The FIFA Women’s World Cup will make its debut in Australia and Aotearoa, New Zealand next month, with 32 teams taking part in the competition.
- The FIFA World Cup 2026, meanwhile, will be the first to be hosted by three countries, with 48 participating teams and 104 matches in 16 cities across Canada, Mexico and the United States.
- Fédération internationale de football association FIFA (International Association Football Federation) – 21/05/1904 (Founded) – Zurich, Switzerland (HQ) – Gianni Infantino (President)
Important Days
World Doll Day
- Doll Day is celebrated on the second Saturday in June.
- This year it takes place on June 10.
- The day was established on June 14, 1986.
Defence
India Navy conducted mega operation involving two aircraft carriers, over 35 combat planes
- In one of the biggest demonstrations of its combat prowess in recent years, the Indian Navy has carried out a mega operation in the Arabian sea that involved two aircraft carriers, multiple warships, submarines and over 35 frontline planes amid China’s increasing presence in the Indian Ocean region.
- The Navy’s aircraft carriers INS Vikramaditya and newly inducted INS Vikrant were the centrepieces of the exercise as they served as floating airfields for a wide array of aircraft, including MiG-29K and helicopters such as MH60R, Kamov and Advanced Light helicopters.
- Indian Navy – 26/01/1950 (Founded) – New Delhi (HQ) – Navy Day (December 4) – Admiral R. Hari Kumar (Chief of Naval Staff) – ‘May the Lord of Water be auspicious unto us’ (Motto)
Army signed deal with Astrome Tech Pvt Ltd for Tactical LAN Radio systems
- The Army has signed a contract with Bangaluru-based start-up Astrome Tech Pvt Ltd for procurement of indigenously developed ‘Tactical LAN Radio’ for reliable and interception-free communication in difficult terrain under the Make In India initiative to promote self reliance in the defence sector.
- The contract with Astrome Tech Pvt Ltd for procurement of indigenously developed Tactical LAN Radio was signed in presence of Lt Gen MV Suchindra Kumar, the Vice Chief of Army Staff here, the Ministry of Defence.
- This is the second procurement contract through Innovations for Defence Excellence (iDEX) signed by Army.
- The radio system also incorporates the enhanced safety features and can operate continuously for 48 hours on a single set basis without any breakdown. ‘Giga Mesh’ an innovative wireless product to solve internet woes of rural parts of the country was also developed by Astrome.
- The deep tech start-up recently got a pilot project from the Department of Telecommunications (DOT) and has deployed Multi-Link E-band radios, which Astrome claims is the world’s first such system for broadband internet connectivity, in rural Karnataka.
- A total of 42 Army projects are part of Defence India Start-up Challenge (DISC), Open Challenges and iDEX PRIME scheme which involves handholding of 41 start-ups for development of latest state of the art solutions for challenges posed by the force.
- Indian Army – 26/01/1950 (Founded) – New Delhi (HQ) – Army Day (January 15) – General Manoj Pande (Chief of Army Staff) – “Service Before Self” (Motto)
Daily Current Affairs - June 10, 2023 - Consolidated
- ‘Ladli Bahna’ scheme
- Machkund Hydro Electric Scheme
- Go Digit Life Insurance received IRDAI’s approval to start business
- Tata Motors and HSBC partner to promote EV adoption
- Tata Motors Finance, Pasco Motors to introduce digital credit facility for CV servicing and maintenance
- IICA and RRU signed MoU to synergise professional capabilities
- Power Ministry planned ₹40,000 crores transmission infrastructure to evacuate RE power from Gujarat, Rajasthan
- NHDC will construct 525 MW pumped storage power project in Khandwa, MP
- CPPIB sold 1.66% stake in Kotak Mahindra Bank for Rs 6,123 crores
- Transunion Cibil appointed V Ananthraman as non-executive chairman
- SUGAR POP roped in Shehnaz Gill as brand ambassador
- Report of the World Health Organisation
- FIPI Oil & Gas Awards 2022
- Soccer-Former South Africa coach Clive Barker passed away
- FIFA announced AB InBev as official beer sponsor of FIFA Women’s World Cup 2023 and FIFA World Cup 2026
- World Doll Day
- India Navy conducted mega operation involving two aircraft carriers, over 35 combat planes
- Army signed deal with Astrome Tech Pvt Ltd for Tactical LAN Radio systems
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