Daily Current Affairs – June 23, 2023
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Daily Current Affairs - Banking - June 23, 2023
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International News
US, India to build payment security system to put 10,000 e-buses on roads
- The United States and India announced plans to create a payment security mechanism that will facilitate the deployment of 10,000 Made-in-India electric buses in India.
- The commitment will augment India’s focused efforts in reducing greenhouse gas emissions, improving public health, and diversifying the global supply chain.
- To this end, the Global Biofuels Alliance will be launched in July 2023, with the US as a founding member.
- The payment security mechanism will also help give assurance to bus manufacturers, who were reluctant in bidding for the e-bus tenders.
- The state-owned Convergence Energy Services (CESL) had to extended bidding deadline, when it failed to received bids for its ‘Bus Contractor for Procurement, Supply and Maintenance of 4,675 Electric Buses and the Development of Allied Electric and Civil Infrastructure on a Dry Lease Basis under National E-Bus Program (NEBP)’ tender.
- The creation of a payment security mechanism will help India achieve its commitment to decarbonise India’s transportation sector and meet the target of 40 per cent e-bus penetration by 2030 and net neutrality by 2070.
- The commitment will also help the CESL in its plan to deploy 50,000 e-buses under the National e-Bus Program (NEBP) in a phased manner.
India, US to jointly produce engines for next generation fighter jet aircraft
- India and the US have signed a pact to jointly produce engines for next generation combat fighter jet aircraft.
- The pact is expected to see significant transfer of technology to the Indian defence manufacturing sector.
- The two sides also launched an initiative for sharing defence technology and fostering research and development to enhance defence industrial partnership.
- The pact will provide engines for the Tejas Mk 2 fighter jet programme and place GE Aerospace as the leading contender for the future Advanced Multirole Combat Air craft (Amca) requirement as well.
- United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)
State News
AP CM inaugurated Godrej Agrovet unit, lays foundation for 3 companies
- Andhra Pradesh Chief Minister YS Jagan Mohan Reddy inaugurated the ₹100 crore edible oil refinery, Godrej Agrovet, at Chintalapudi, Eluru district.
- Reddy also laid foundation stone for manufacturing units of Kribhco Green Energy Viswa Samudra Bio Energy CCL Food and Beverages in the State involving a total investment of about ₹1,325 crore.
- The new upcoming units would provide direct and indirect employment to over 2,500.
- The Kribhco and Viswa Samudra bioethanol units at Sarvepalli with a production capacity 500 and 200 kilo liters would provide jobs to over 1,000 and 500, respectively.
- CCL coffee manufacturing unit at Tirupati district with an annual production capacity of 16,000 tonnes would provide direct and indirect employment to 400.
- Andhra Pradesh – Amaravati (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)
Business and Economy
Boeing will invest $100 million in infrastructure and pilot training in India
- Boeing has announced a significant investment of $100 million in infrastructure and pilot training programs in India.
- The move is a response to Air India’s recent firm orders for over 200 jets from Boeing, which includes a variety of aircraft such as the 787 Dreamliners, 777Xs, and 737 MAX narrowbody planes.
- The Boeing Company – 15/07/1916 (Founded) – Virginia, U.S.A (HQ) – Dave Calhoun (President and CEO)
Agreements and MoUs signed
India collaborated with USAID to reduce carbon emission in railways
- As part of its commitment to reduce carbon footprints, Indian Railways has signed a Memorandum of Understanding (MoU) with United States Agency for International Development/India (USAID/India) for collaboration on renewable energy and energy efficiency in the railways.
- USAID is an agency of the US government that supports international developments in a wide range of sectors.
- US agency will provide technical assistance and support to Indian Railways including long-term energy planning, supporting renewable procurement, and promotion of e-mobility.
- Indian Railways – 06/05/1836 (Founded) – New Delhi (HQ) – V.K.Tripathi (Chairman & CEO)
Paytm signed MoU with Arunachal Pradesh for creating startup ecosystem
- Paytm Payment Services Limited (PPSL) signed an MoU with Arunachal Pradesh Innovation and Investment Park (APIIP) to create a startup ecosystem for the youth in the northeastern state.
- According to the MoU, Paytm Incubation Centre will provide its product to early-stage startups at a discounted price and offer free credits through the Paytm Startup toolkit to aid the business ventures of youths in their early stage of growth.
- This will nurture the startup ecosystem in the state and motivate the young entrepreneurs.
- The MoU was signed at the Arunachal Pradesh Innovation & Investment Park, the first state-owned marquee incubator here in the presence of its CEO Tabe Haidar.
- Arunachal Pradesh – Itanagar (Capital) – Pema Khandu (CM) – Kaiwalya Trivikram Parnaik (Governor) – English (Language)
Science and Technology
India joined Nasa's Artemis Accords
- Prime Minister Narendra Modi signed the Artemis Accords with the nation’s national space administration.
- This agreement holds significant importance for India to establish itself as a global space power.
- Furthermore, the National Aeronautics and Space Administration (Nasa) and the Indian Space Research Organisation (Isro) have also agreed to launch a joint mission to the International Space Station (ISS) in 2024.
- Nasa’s Artemis programme focuses on making new scientific discoveries and expanding the exploration of the lunar surface.
- National Aeronautics and Space Administration (NASA) – 29/07/1958 (Founded) – Washington DC (HQ) – Bill Nelson (Administrator)
Skyroot successfully tested Raman-I engine designed to help Vikram-I rocket
- Skyroot Aerospace successfully conducted the flight qualification test of the Raman-I engine, intended for roll attitude control in the Vikram-I rocket.
- The Raman-I engine underwent a test fire at the Liquid Propulsion Systems Centre of the Indian Space Research Organisation (Isro).
- The Raman-I engine will be employed for roll attitude control, which helps in managing the rocket’s rotation and orientation.
- Skyroot Aerospace, a start-up based in Telangana, made history by becoming the first Indian private company to launch a rocket with Vikram-S.
- The indigenous Vikram-S was launched from the Satish Dhawan Space Center in Sriharikota, marking India’s entry into commercial space exploration.
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
First Made-in-India semiconductor chips to be out by Dec 2024
- First Made-in-India chips are expected to be rolled out by December 2024, Union Minister for Communications and IT Ashwini Vaishnaw.
- He said, 4-5 semiconductor facilities are anticipated to be built in the nation within a year.
- American chip maker Micron Technology announced that it would invest up to $825 million in a new chip assembly and test facility in Gujarat.
- It will be the company’s first factory in the country.
- Phase 1, which will include five lakh square feet of planned cleanroom space, will start to become operational in late 2024 and Micron will ramp capacity gradually over time in line with global demand trends.
- This move will create up to five thousand new direct Micron jobs and 15 thousand community jobs over the next several years.
- Micron will receive 50 percent fiscal support for the total project cost from the Indian government and incentives representing 20 per cent of the total project cost from the Gujarat government.
- Ministry of Communications and Information Technology – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Devusinh Chauhan, Minister of State (Kheda, Gujarat)
IIT Kanpur successfully conducted test flight for cloud seeding
- The Indian Institute of Technology Kanpur has successfully conducted a test flight for cloud seeding.
- The project was initiated at IIT Kanpur a few years ago and is headed by Prof. Manindra Agrawal from the Computer Science and Engineering Department.
- The experiment was conducted with due approval from the DGCA (Directorate General of Civil Aviation).
- The test flight went up to an approximate height of 5000 ft.
- The short flight took off and came back to the IIT Kanpur Flight Lab airstrip, after successfully completing the test ride.
- Cloud seeding involves the utilization of various chemical agents such as silver iodide, dry ice, common salt, and other elements with the aim of enhancing the probability of precipitation.
- In the experiment undertaken by IIT Kanpur, a Cessna aircraft was flown from the Flight Laboratory of IIT Kanpur with cloud seeding attachments.
- These attachments were procured from a manufacturer in the US and the modifications in the aircraft were approved both by the manufacturers of Cessna and DGCA.
- The test flight spread the agents using a flare as is standard practice.
Appointments
Prime Minister of Finland
- Petteri Orpo, the leader of the conservative National Coalition Party, become Finland’s 47th prime minister by replacing Sanna Marin.
- Petteri Orpo was deputy PM of Finland (2017 to 2019)
- Finland – Helsinki (Capital) – Euro (Currency) – Sauli Väinämö Niinistö (President) – Petteri Orpo (Prime Minister) – Finnish & Swedish (Language)
Hasmukh Adhia appointed as chairman of GIFT City
- Former Union Finance Secretary and retired Gujarat cadre bureaucrat Hasmukh Adhia, who is principal advisor to chief minister Bhupendra Patel has been appointed as chairman of GIFT (Gujarat International Finance Tec) City, and as Chairman and Director of the Vadodara based Gujarat Alkalies and Chemicals Ltd (GACL) and the Chairman and Director of the Gujarat Mineral Development Corporation (GMDC).
- Adhia replaces Sudhir Mankad in GIFT City.
China's Alibaba names new CEO and chairman
- Alibaba CEO Daniel Zhang steps down
- Eddie Wu takes over as CEO, Joseph Tsai as chairman
Ranks and Indices
Asia University Rankings 2023
- The number of South Asian universities in the top 200 of Times Higher Education’s Asia University Rankings has climbed to a five-year high.
- The rankings were released for 669 universities from 31 regions between Turkey in the west and Japan in the east.
- There are 32 universities from Pakistan, India, Bangladesh, and Sri Lanka in the top 200 this year a marked rise from 24 universities in 2022 and higher than pre-pandemic levels in 2019, when 25 institutions from South Asia made the cut.
- Pakistan leads the charge, with 10 universities in the top 200 this year, up from six last year.
- India had four universities in the top 100 and 18 universities in the top 200.
Rank | Institution | Country |
1 | Tsinghua University | China |
2 | Peking University | China |
3 | National University of Singapore | Singapore |
4 | University of Hong Kong | Hong Kong |
5 | Nanyang Technological University, Singapore | Singapore |
48 | IISc Bangalore | India |
68 | JSS Academy of Higher Education and Research, Bengaluru | India |
77 | Shoolini University of Biotechnology and Management Sciences, Solan | India |
95 | Mahatma Gandhi University, Kottayam | India |
Awards and Recognitions
Bajaj Allianz General Insurance Won the Prestigious Best Customer Experience and Servicing Platform in Partnership with BUSINESSNEXT
- Bajaj Allianz General Insurance, one of the largest private insurers in India announced that it has won ‘Best Customer Experience and Servicing Platform’ at the 4th ELETS BFSI Game Changer Summit 2023, in Goa.
- The project implementation, in partnership with BUSINESSNEXT, a universe of composable enterprise solutions for banks and financial services, was declared the winner amongst 150+entries.
Books and Authors
HarperCollins India presented Balidan: Stories of India's Greatest PARA Special Forces Operatives by Swapnil Pandey
- Book: Balidan: Stories of India’s Greatest PARA Special Forces Operatives
- Author: Swapnil Pandey
- Publisher: HarperCollins India
Obituary
Chhattisgarh BJP MLA Vidyaratan Bhasin passed away
- Bharatiya Janata Party (BJP) MLA in Chhattisgarh, Vidyaratan Bhasin passed away at 76.
- The two-time legislator, who represented Vaishali Nagar constituency in Durg district.
Sports News
BCCI announced Shyama Shaw as selector for Women's Selection Committee
- The Cricket Advisory Committee (CAC) has unanimously recommended Shyama Dey Shaw as a selector in the Women’s Selection Committee and V S Thilak Naidu as a selector for Junior Cricket Committee.
- The CAC, comprising Sulakshana Naik, Ashok Malhotra, and Jatin Paranjape, made the announcement.
Important Days
International Olympic Day 2023
- International Olympic Day is celebrated on June 23 each year and was first observed in 1948.
- In 1947, a member of the International Olympics Committee in Czechoslovakia, Dr. Josef Gruss, presented a report about World Olympic Day in Stockholm.
- Later in the 42nd I.O.C. Session at St Moritz in January 1948, the idea for Olympic Day was adopted.
- With mutual consultation, June 23 was chosen to celebrate the foundation of the I.O.C. Its motivation was to convey a message to the young people by promoting the idea of sports among them.
- Theme – Let’s Move
- International Olympic Committee (IOC) – 23/06/1894 (Founded) – Lausanne, Switzerland (HQ) – Thomas Bach (President) – 104 active members, 45 honorary members, 1 honour member (United States), 206 individual National Olympic Committees – French & English (Language)
United Nations Public Service Day
- The United Nations Public Service Day is celebrated on June 23 of every year.
- The UN Public Service Day was designated by the United Nations General Assembly’s resolution A/RES/57/277 of 2003, to “celebrate the value and virtue of public service to the community”.
- First United Nations Public Service Day was celebrated on 23 June 2003.
- United Nations (UN) – 24/10/1945 (Founded) – New York (HQ) – António Guterres (Secretary General) – 193 member states & 2 observer states
International Widows Day
- International Widows Day is a United Nations ratified day of action to address the “poverty and injustice faced by millions of widows and their dependents in many countries”.
- The day takes place annually on 23 June.
- The first International Widows Day took place in 2005 and was launched by Lord Loomba and the foundation’s president, Cherie Blair.
- On 21 December 2010, the United Nations General Assembly formally adopted 23 June as International Widows Day, endorsing by unanimous acclaim a proposal introduced by President Ali Bongo Ondimba of Gabon.
- Theme – Innovation and Technology for Gender Equality
Daily Current Affairs - June 23, 2023 - Consolidated
- US, India to build payment security system to put 10,000 e-buses on roads
- India, US to jointly produce engines for next generation fighter jet aircraft
- AP CM inaugurated Godrej Agrovet unit, lays foundation for 3 companies
- Boeing will invest $100 million in infrastructure and pilot training in India
- India collaborated with USAID to reduce carbon emission in railways
- Paytm signed MoU with Arunachal Pradesh for creating startup ecosystem
- India joined Nasa’s Artemis Accords
- Skyroot successfully tested Raman-I engine designed to help Vikram-I rocket
- First Made-in-India semiconductor chips to be out by Dec 2024
- IIT Kanpur successfully conducted test flight for cloud seeding
- Prime Minister of Finland
- Hasmukh Adhia appointed as chairman of GIFT City
- China’s Alibaba names new CEO and chairman
- Asia University Rankings 2023
- Bajaj Allianz General Insurance Won the Prestigious Best Customer Experience and Servicing Platform in Partnership with BUSINESSNEXT
- HarperCollins India presented Balidan: Stories of India’s Greatest PARA Special Forces Operatives by Swapnil Pandey
- Chhattisgarh BJP MLA Vidyaratan Bhasin passed away
- BCCI announced Shyama Shaw as selector for Women’s Selection Committee
- International Olympic Day 2023
- United Nations Public Service Day
International Widows Day
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