Daily Current Affairs – June 22, 2023
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Daily Current Affairs - Banking - June 22, 2023
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National News
Shri Nitin Gadkari inaugurated and lays foundation stone of 4 National Highway projects at Sonepat, Karnal and Ambala in Haryana worth Rs 3,835 crore
- Union Minister for Road Transport and Highways Shri Nitin Gadkari inaugurated and laid foundation stone of 4 National Highway projects at Sonepat, Karnal and Ambala in Haryana worth Rs 3,835 crore in presence of Haryana Chief Minister Shri Manohar Lal Khattar, Deputy Chief Minister Shri Dushyant Chautala and other MPs, MLAs and officials.
- The construction of 11 flyovers on 8-lane National Highway 44 from Delhi to Panipat in Sonepat at a cost of Rs 890 crore with a total length of 24 km will provide better connectivity to the economic nodes of Haryana, Punjab and Jammu and Kashmir.
- This highway from Delhi to Panipat will connect agricultural areas with industrial areas facilitating the transportation of goods and final products.
- The Delhi-Panipat corridor will ease the movement of tourists going to and from Haryana, Punjab, Himachal Pradesh and Jammu and Kashmir.
- The construction of national highways, Karnal Greenfield 35 km 6-lane Ring Road at a cost of Rs 1690 crore is not just a road but will become the lifeline for the development and prosperity of the region in times to come.
- It will bypass Karnal city traffic and provide an easy and convenient option for commuters traveling to Jammu, Punjab, Himachal Pradesh, Uttar Pradesh and Southern Haryana, thereby reducing pollution and accidents in the region.
- Shri Gadkari also Inaugurated and laid foundation stone of 2 NH projects worth Rs 1255 Crore in Ambala, Haryana.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
Ministry of Transport proposed 15% insurance discount on school buses
- The Ministry of Road Transport and Highways (MoRTH) has proposed discounts on motor insurance premiums for educational institution buses, private vintage cars, and electric & hybrid electric vehicles.
- MoRTH drafted a notice proposing motor third-party premiums and liability rules for the financial year 2023-24 after consulting the insurance regulatory and development authority of India (Irdai).
- The notice includes a proposal to provide all buses in the service of educational institutions 15 per cent discount on motor insurance premiums.
- It also proposes 15 per cent for electric vehicles (EV) and a 7.5 per cent for hybrid EVs.
- Insurance Regulatory and Development Authority of India (IRDAI) – 1999 (Founded) – Hyderabad (HQ) – Debasish Panda (Chairman) – Ministry of Finance (Under)
Government decided to link the Child Helpline with ERSS-112 under One Nation-One Helpline vision
- As a part of the overarching vision of One Nation, One Helpline and as a priority during the second National Chief Secretaries’ Conference, the Ministry of Women and Child Development has decided to link the Women’s Helpline and Child Helpline with ERSS-112 (Emergency Response Support System).
- Ministry of Childline was supporting this 24×7 helpline, Childline 1098, under the erstwhile Child Protection Services (CPS) scheme of the Ministry through the India Foundation (CIF) and its partner NGOs.
- Childline India Foundation (CIF) was the “mother NGO” managing the service as Childline.
- According to the ministry, CIF, through its network of over 1,000 units, is providing Childline services in 568 districts, 135 railway stations, and 11 bus stands.
- CIF has a response time of approximately 60 minutes for calls made to a child in distress.
- However, the existing system lacks interoperability with other services like police, fire, and ambulance, leading to the loss of valuable time in times of crisis.
- Further, the CIF network could cover only 568 districts.
- That is, he could not include about 200 districts under Childline.
- In view of this, the Government has decided to integrate the Child Helpline with ERSS-112 to take care of children in distress through responsible and accountable administration.
- The strengthening of service delivery structures under the Juvenile Justice (Care and Protection of Children) Act 2015, as amended in 2021, will have a positive impact on the child helpline system operated in collaboration with States and UTs.
- The technical integration with ERSS-112 is expected to usher in a seamless flow of information, which will effectively aid in the repatriation and rehabilitation of children in distress within districts and states/UTs.
North India's first Skin Bank inaugurated at New Delhi's Safdarjung Hospital
- North India’s first Skin Bank has been inaugurated at New Delhi’s Safdarjung Hospital.
- It is a bank where deceased donors can donate their skin which will be helpful in treating burns.
- The skin can be donated within six hours of death and utilized for burns and trauma patients after processing.
- Medical Superintendent of the Safdarjung Hospital, Dr B L Sherwal described it as a significant achievement adding that the hospital is also planning to open a separate website for the skin bank so that people can avail of this facility easily.
- New Delhi – Delhi (Capital) – Arvind Kejriwal (CM) – Vinai Kumar Saxena (Lieutenant Governor) – Hindi (Language)
Union Cabinet cleared Micron’s $2.7 billion chip testing plant
- Union Cabinet has paved the way for setting up Micron’s $2.7 billion semiconductor test and packaging unit in Gujarat, sources have confirmed.
- A formal announcement is expected during Prime Minister Narendra Modi’s ongoing US visit.
- Cabinet approval was required for amount of Production Linked Incentive (PLI) amounting to around ₹11,000 crores.
- Such units test and pack semiconductor chips, but do not manufacture them.
- Micron could procure and package chip for clients at the plant, or other companies could send their chips for testing before shipping.
- The company plans to set up an OSAT (outsourced semiconductor assembly and test) plant in India which will test and package its product to make it ready for use.
International News
PM Narendra Modi to hold bilateral talks with US President Joe Biden
- Prime Minister Narendra Modi held bilateral talks with US President Joe Biden at the White House in Washington DC.
- The two leaders will discuss greater economic cooperation between both countries to eliminate hurdles of building a robust supply chain.
- Prime Minister Modi first addressed the US Congress during his visit to the country in 2016.
- He will be the first Indian Prime Minister to be accorded this honour twice.
- United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)
State News
Punjab Government earmarked Rs 300 crore incentive to drive EV adoption
- Punjab’s state government will provide incentives worth around Rs 300 crore in the next three years to promote the adoption of electric vehicles and reduce pollution.
- These incentives will be provided on electric two-wheelers, e-cycles, e-rickshaws, e-autos and electric light commercial vehicles.
- Punjab – Chandigarh (Capital) – Bhagwant Singh Mann (CM) – Banwarilal Purohit (Governor) – Punjabi (Language)
Banking and Finance
Indian banks looking for a bigger stake in digital India via own QR codes
- Quick response codes, or QR codes, have had a big impact on India’s digital payment landscape, owing largely to non-banking apps like Paytm, PhonePe, and Google Pay.
- Now, several banks are making bets on this market by deploying their own QR codes at retail locations.
- While ICICI Bank has led the way with its merchant-facing InstaBiz application, HDFC Bank and Axis Bank have also jumped in.
Axis Bank launched new feature to manage multiple accounts on one platform
- Axis Bank has launched the ‘one-view’ feature on its mobile application which enables account management across multiple bank accounts, including non-Axis accounts.
- The feature has been launched using the open banking principle leveraging the account aggregator (AA) ecosystem—an industry-first initiative.
- AA or data aggregator platforms provide secure sharing of information while maintaining customer consent and data privacy.
- Customers can link their non-Axis Bank accounts and get a comprehensive view of their balance, transactions and statements on a real-time basis, thus simplifying the process of managing finances and providing access to multiple bank accounts on one platform.
- The feature will eliminate the need for multiple mobile banking applications and also allow customers to download and e-mail transaction details from their linked accounts.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
Business and Economy
Fitch raises India growth outlook for 2023-24 to 6.3%
- Fitch Ratings has raised India’s growth forecast for 2023-24 to 6.3 per cent from its earlier estimate of 6.0 per cent in March making the country one of the fastest-growing major economies in the world.
- In a report published, the rating agency said the stronger outturn in the January-March quarter of 2023 and near-term momentum have prompted it to upgrade India’s growth outlook.
LIC Mutual Fund will acquire all schemes of IDBI Mutual Fund
- LIC Mutual Fund (LICMF) will acquire all the schemes of IDBI Mutual Fund.
- As per the terms of the agreement between the two fund houses, LICMF will manage, operate, and administer all of IDBIMF’s schemes.
- Of the total 20 schemes of IDBI Mutual Fund, 10 schemes will be merged with LIC MF schemes.
- The Asset Under Management (AUM) of LICMF currently stands at Rs 19,700 crore while IDBI Mutual Fund manages assets worth Rs 3,800 crore.
- The acquisition is likely to be completed by the end of July after which LICMF will manage, operate, and administer all the schemes of IDBI Mutual Funds.
- The unitholders of schemes opting for exit will not have to pay any exit load, according to the agreement.
- Schemes of the fund houses having similar features will be merged.
Agreements and MoUs signed
Ashok Leyland partnered IDBI Bank for channel partner financing
- Ashok Leyland a leading commercial vehicle manufacturer has signed a Memorandum of Understanding (MoU), with IDBI Bank to enter into a strategic channel financing partnership for its dealers.
- This MoU will enable both Ashok Leyland and IDBI Bank to offer customised financial solutions to them.
Science and Technology
Shri Narendra Singh Tomar launched PM Kisan Mobile App with Face Authentication Feature
- The PM-Kisan Mobile App with Face Authentication Feature was launched by Union Agriculture and Farmers’ Welfare Minister Shri Narendra Singh Tomar under the central government’s ambitious and popular scheme for income support to farmers “Pradhan Mantri Kisan Samman Nidhi”.
- Best example of modern technology using Face Authentication Feature from this app farmer can complete e-KYC remotely, sitting at home easily by scanning face without OTP or fingerprint and helped 100 other farmers to do e-KYC at their home.
- Recognizing the need to make e-KYC mandatory, the Government of India has extended the ability of farmers to perform e-KYC to officers of state governments, so that each officer can complete the e-KYC process for 500 farmers.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
Appointments
Madhivanan Balakrishnan appointed as ED of IDFC FIRST Bank
- Madhivanan Balakrishnan has been elevated as the Executive Director and Chief Operating Officer of IDFC First Bank following the RBI’s approval.
- His elevation was recommended by the nomination and remuneration committee for a period of three years.
- Madhivanan has been a part of the bank since 2019 and is currently serving as the Chief Operating Officer.
- IDFC First Bank – October 2015 (Founded) – Mumbai (HQ) – V. Vaidyanathan (MD & CEO) – “Always You First” (Tagline)
Ranks and Indices
Global Leader Approval Ratings
- Prime Minister Narendra Modi remains the world’s most popular leader with an approval rating of 75 percent.
- This was revealed in a Global Leader Approval Ratings released by a US-based consulting firm Morning Consult.
- Swiss President Alain Berset stands at second position followed by Mexican President Andrés Manuel López Obrador.
- In the approval rating, US President Joe Biden is placed at the 8th position while UK Prime Minister Rishi Sunak is at the 13 position among 22 world leaders.
Reports
Global Liveability Index 2023
- The Economist Intelligence Unit released Global Liveability Index 2023 report on global livability index, placing Austria’s capital Vienna as the top ranked city to live in this year.
- The private research body said the findings of the latest survey showed ‘optimism’ as the index has reached a 15-year high with focus on healthcare and education growing in Asian, African and the Middle East countries.
- The list contains the names of 173 cities around the world that have been ranked based on a number of significant factors, including health care, education, stability, infrastructure and the environment.
- The average index score among all 172 cities has now reached 76.2 out of 100.
Rank | Cities |
1 | Vienna, Austria |
2 | Copenhagen, Denmark |
3 | Melbourne, Australia |
4 | Sydney, Australia |
5 | Vancouver, Canada |
141 | New Delhi & Mumbai |
144 | Chennai |
147 | Ahmedabad |
148 | Bengaluru |
173 | Damascus, Syria & Tripoli, Libya |
Awards and Recognitions
Olympic Order awarded to WHO Director-General Tedros Ghebreyesus
- The Director-General of the World Health Organization (WHO), Dr Tedros Ghebreyesus, was presented with the Olympic Order by International Olympic Committee (IOC) President Thomas Bach.
- The award ceremony was held at Olympic House in Lausanne, Switzerland.
- At the same time, the IOC honoured the WHO, as an organisation, with the Olympic Cup for 2021.
- World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)
National Florence Nightingale Awards
- The President of India, Smt Droupadi Murmu presented the National Florence Nightingale Awards for the years 2022 and 2023 to the Nursing professionals at a function held at Rashtrapati Bhavan.
- The National Florence Nightingale Award was instituted by the Ministry of Health and Family Welfare, Government of India in the year 1973 as a mark of recognition for the meritorious services rendered by the nurses and nursing professionals to the society.
- For 2022 and 2023 15 members each were awarded.
Important Days
World Hydrography Day
- World Hydrography Day is celebrated annually on June 21 to raise awareness of the importance of hydrography and the work of hydrographers.
- Hydrography is the science of measuring and describing the physical features of the Earth’s oceans, seas, lakes, rivers, and canals.
- The day was established by the International Hydrographic Organization (IHO) in 2005.
- Theme – Hydrography – underpinning the digital twin of the ocean
Defence
Indian Navy form 'Ocean Ring of Yoga' on 9th International Yoga Day
- Naval ships deployed in the Indian Ocean region are visiting ports of friendly foreign countries and spreading the message of ‘Vasudhaiva Kutumbakam’ on International Day of Yoga forming an ‘Ocean Ring of Yoga’.
- Yoga day events and activities are being conducted on Indian naval ships, including Kiltan, Chennai, Shivalik, Sunayna, Trishul, Tarkash, Vagir, Sumitra and Brahmaputra all of which are deployed in the Indian Ocean Region.
- Port calls by Indian naval ships include those at Chattogram in Bangladesh, Safaga in Egypt, Jakarta in Indonesia, Mombasa in Kenya, Toamasina in Madagascar, Muscat in Oman, Colombo in Sri Lanka, Phuket in Thailand and Dubai in the United Arab Emirates, where yoga sessions are being organised in accordance with the “Common Yoga Protocol”.
- Nearly 3,500 naval personnel on board 19 Indian Navy ships have travelled more than 35,000 kilometres as ambassadors of yoga in both national and international waters.
- This includes more than 2,400 personnel on 11 naval ships at foreign ports or international waters.
- 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)
L&T and DRDO signed contract to make AIP modules for Indian Navy submarines
- L&T and DRDO signed contract to make AIP modules for Indian Navy submarines
- Construction conglomerate Larsen & Toubro (L&T) and the Defence Research and Development Organisation (DRDO) signed a contract for the realisation of two air-independent propulsion (AIP) modules for the Kalvari class of submarines of the Indian Navy.
- The manufacturing and trials of the energy modules will be done in L&T’s A M Naik Heavy Engineering Complex at Surat.
- The energy modules constitute the core of the fuel cell-based AIP system, which has been indigenously developed by the Naval Materials Research Laboratory (NMRL) of the DRDO.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Daily Current Affairs - June 22, 2023 - Consolidated
- Shri Nitin Gadkari inaugurated and lays foundation stone of 4 National Highway projects at Sonepat, Karnal and Ambala in Haryana worth Rs 3,835 crore
- Ministry of Transport proposed 15% insurance discount on school buses
- Government decided to link the Child Helpline with ERSS-112 under One Nation-One Helpline vision
- North India’s first Skin Bank inaugurated at New Delhi’s Safdarjung Hospital
- Union Cabinet cleared Micron’s $2.7 billion chip testing plant
- PM Narendra Modi to hold bilateral talks with US President Joe Biden
- Punjab Government earmarked Rs 300 crore incentive to drive EV adoption
- Indian banks looking for a bigger stake in digital India via own QR codes
- Axis Bank launched new feature to manage multiple accounts on one platform
- Fitch raises India growth outlook for 2023-24 to 6.3%
- LIC Mutual Fund will acquire all schemes of IDBI Mutual Fund
- Ashok Leyland partnered IDBI Bank for channel partner financing
- Shri Narendra Singh Tomar launched PM Kisan Mobile App with Face Authentication Feature
- Madhivanan Balakrishnan appointed as ED of IDFC FIRST Bank
- Global Leader Approval Ratings
- Global Liveability Index 2023
- Olympic Order awarded to WHO Director-General Tedros Ghebreyesus
- National Florence Nightingale Awards
- World Hydrography Day
- Indian Navy form ‘Ocean Ring of Yoga’ on 9th International Yoga Day
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