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Daily Current Affairs – June 25 & 26, 2023

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Daily Current Affairs - Banking - June 25 & 26, 2023

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International News

PM Modi visit to Egypt

  • Prime Minister Narendra Modi arrived for a two-day state visit during which he will hold talks with the Egyptian leadership, including President Abdel Fattah El-Sisi, as the two nations seek to enhance their strategic partnership.
  • This is the first bilateral visit by an Indian Prime Minister to Egypt in 26 years.
  • Modi will visit the 11th Century Al-Hakim mosque, which was renovated with assistance from the Dawoodi Bohra community.
  • The Bohra community in India actually originated from the Fatima dynasty and they have renovated the mosque from the 1970s onwards.
  • He will visit the Heliopolis War Cemetery to pay respects to the Indian troops who gave their lives in the ultimate act of valour for Egypt during World War-1.
  • This memorial was built by the Commonwealth, although it is dedicated to the 3,799 Indian troops who lost their lives in different First World War conflicts in Egypt.
  • The two leaders discussed ways to further deepen the partnership between the two countries, including in trade and investment, defence and security, renewable energy, cultural and people to people ties.
  • They reviewed the full range of India-Egypt relations and agreed to further augment economic and cultural linkages.
  • Egypt – Cairo (Capital) – Egyptian pound (Currency) – Abdel Fattah el-Sisi (President) – Moustafa Madbouly (Prime Minister) – Arabic (Language)

State News

UP government approves investment proposals worth Rs 36 lakh crores

  • The Uttar Pradesh government has approved investment proposals worth about Rs 36 lakh crore that emerged out of a memorandum of understanding signed during the state’s investor summit a year ago, chief minister Yogi Adityanath.
  • During his speech at an inaugural function of the Rs 200 crore-robot manufacturing plant of Reliance group firm Addverb, the chief minister said for the first time, the state has received investment proposals for all 75 districts and a maximum number of proposals have come for Gautam Buddh Nagar district.
  • The second Global investor summit was organised in Lucknow in 2023.
  • At this occasion, the MoU (Memorandum of Understanding) that we have signed, proposals worth Rs 36 lakh crore have been received.
  • Uttar Pradesh – Lucknow (Capital) – Yogi Adityanath (CM) – Anandiben Patel (Governor) – Hindi (Language)

Delhi man sets Guinness World Record! Covers 286 metro stations in 15 hours

  • Shashank Manu has set a Guinness World Record for covering all 286 metro stations of the Capital city within 15 hours, 22 minutes and 49 seconds.
  • Shashank set the record in 2021, however, he received the certification officially in April this year after a mix-up that saw the honour being credited to the revenue inspector with Delhi Metro.
  • It took several months of back-and-forth between Shashank and the Guinness World Records to set the record straight.
  • Shashank, who has travelled to over 70 countries, got his name imprinted into the Guinness World Records for the no-mean feat.
  • New Delhi – Delhi (Capital) – Arvind Kejriwal (CM) – Vinai Kumar Saxena (Lieutenant Governor) – Hindi (Language)

Banking and Finance

World Bank approved USD 255.5 million loan to improve technical education in India

  • The World Bank has approved a USD 255.5 million loan to assist India in raising the standard of its technical education and expanding the number of jobs prospects available to students.
  • More than 3,50,000 students will benefit annually from the project’s assistance of 275 government-run technical institutes over the course of the next five years.
  • India’s tertiary education has been expanding gradually, from 29 million students enrolled in 40,000 colleges in 2011-12 to 39 million students enrolled in 40,000 universities in 2019-20.
  • World Bank – December 1944 (Founded) – Washington DC (HQ) – Ajay Banga (President)

Business and Economy

S&P retains India’s growth projection at 6% for FY24

  • S&P Global Ratings retained India’s GDP growth forecast at 6 per cent for FY24 saying it will be the fastest growing economy among Asia Pacific nations.
  • The GDP growth forecast for the current and the next fiscal has been kept unchanged from the forecast made in March partly on account of domestic resilience.

Summit and Conference

8th Global Pharmaceutical Quality Summit 2023

  • Union Minister for Chemicals and Fertilisers and Health & Family Welfare Dr. Mansukh Mandaviya addressed the 8th Global Pharmaceutical Quality Summit 2023 in Mumbai.
  • India played the role of pharmacy for the world during COVID-19 by ensuring an uninterrupted supply of quality medicines and vaccines to the world.
  • The theme for the Summit was, ‘Patient Centricity: New Paradigm of Manufacturing and Quality’.
  • The two-day Summit brought together industry leaders, global regulators, quality experts, and stakeholders to foster knowledge exchange and deliberate on areas of importance in shaping the pharmaceutical landscape in India.
  • Ministry of Chemicals and Fertilizers – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Bhagawanth Khuba,Minister of State (Bidar,Karnataka) 

Science and Technology

Union Minister Parshottam Rupala launched NOC Approvals for New Drugs & Inoculation System

  • Union Fisheries, Animal Husbandry and Dairying Minister Parshottam Rupala launched NANDI (NOC Approvals for New Drugs & Inoculation System).
  • The NANDI portal has been developed to pave the way to a resilient Animal Health Sector in India by streamlining and digitising the regulatory approval process.
  • It is also aimed to speed up the process to assess and examine the safety, efficacy, and essentiality of veterinary product proposals received in the Department.
  • NANDI will ensure seamless approval of vaccines.
  • The decision of launching the Mobile Veterinary Units and vaccinating all livestock in the country will bring a big change in the Animal Husbandry Sector.
  • The NANDI portal will help in achieving the goal of developing a global manufacturing hub for veterinary products in the country and stimulating research and development focused on improving Animal health.
  • 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)

Power

India achieved milestone of 101 Million Cubic Meters per Day of gas production

  • India has achieved the milestone of 101 Million Metric Standard Cubic Meters per Day of gas production.
  • It is a significant step towards becoming a gas-based economy.
  • Since India imports about 50 per cent of its natural gas requirement, enhanced gas production within the country will reduce import dependence.
  • It will bolster efforts towards a sustainable, affordable, and secure energy future for Indian citizens.

Appointments

DBS Bank India appointed Rajat Verma as managing director and head of institutional banking

  • DBS Bank India announced the appointment of Rajat Verma as managing director and head of institutional banking for India.
  • Prior to this, Rajat was with HSBC Bank where he was the managing director and country head of commercial banking, India.
  • DBS Bank India Limited – 1994 (Founded) – Mumbai (HQ) – Rajat Verma (MD)

Mitsotakis to be sworn in as Greek PM

  • Greece‘s New Democracy party leader Kyriakos Mitsotakis will be sworn in as prime minister for the second term.
  • He replaces Ioannis Sarmas.
  • Greece – Athens (Capital) – Euro (Currency) – Katerina Sakellaropoulou (President) – Kyriakos Mitsotakis (Prime Minister) – Greek (Language)

Parag Gadre appointed advisor to India Pulses and Grains Association

  • India Pulses and Grains Association (IPGA) has appointed Parag Gadre as the board advisor to the trade body.
  • Parag, with his vast experience as a business leader in the corporate sector and thought leader in the Agri value chain, brings essential subject matter expertise that will prove critical for IPGA.
  • Parag has previously worked with corporates such as the Godrej Group, the Tata Group, Parle Agro, Ruchi Soya Industries and in his last assignment as CEO of ETG group in India.

Ranks and Indices

2023 global competitiveness index

  • Global Competitiveness Index released by the International Institute for Management Development (IMD).
  • Out of the 64 economies ranked in the annual report, Denmark, Ireland and Switzerland claimed the top three spots, while the Singapore, Netherlands, Taiwan, Hong Kong, Sweden, the US and the UAE completed the top 10.
  • Notably, Ireland leapt in this year’s ranking, soaring from 11 position to the second spot.
  • India has ranked 40th and slipped three spots from last year, but is still positioned better than the 43rd rank in 2019-21.
  • The IMD World Competitiveness Yearbook (WCY), first published in 1989, is a comprehensive annual report that serves as a global reference point on country competitiveness.

2023 Forbes World’s Most Influential CMOs List

  • 11th annual, Forbes World’s Most Influential CMOs list.
  • 25 are making their first appearance on this.
  • This year’s list of 50 is equally comprised of women and men.
  • For the first time, this year’s list includes four CMOs from companies that are not publicly traded, and that in previous years were not eligible for consideration.
  • They are the CMOs from (alphabetically) Canva, FIFA, the National Football League, and New Balance.

 

Rank

Person

Brand

1

William White

Walmart

2

Marcel Marcondes

Anheuser-Busch/InBev

3

Conny Braams

Unilever

4

Greg Joswiak

Apple

5

Dirk-Jan van Hameren

Nike

10

Harish Bhat

Tata

21

Asmita Dubey

L’Oreal

41

Sumit Virmani

Infosys

Reports

Global Startup Ecosystem Report 2023 (GSER 2023)

  • The Global Startup Ecosystem Report 2023 (GSER 2023) is an in-depth analysis of startup ecosystems worldwide.
  • It provides insights into leading ecosystems, emerging trends, and challenges faced by entrepreneurs.
  • GSER 2023 offers actionable recommendations for entrepreneurs, investors, policymakers, and stakeholders.
  • The report has been released by Startup Genome, a policy advisory and research organization.
  • India has become the 3rd largest start-up ecosystem in the world after the US and China.
  • Indian ecosystems, particularly Mumbai, Bengaluru-Karnataka, and Delhi, have shown positive growth in the rankings & Mumbai move 5 places up.

Rank

City

1

Silicon Valley

2

New York City

3

London

4

Los Angeles

5

Tel Aviv

20

Bangalore

24

Delhi

31

Mumbai

Awards and Recognitions

Egypt’s ‘Order of the Nile’ to Prime Minister Narendra Modi

  • Prime Minister Narendra Modi received the ‘Order of the Nile’ award, the country’s highest state honour, from Egyptian President Abdel Fattah El-Sisi.
  • He has also been conferred with the Arabian country’s highest civilian honour ‘The King Abdulaziz Sash’ in 2016 by King Salman bin Abdulaziz at the Royal Court.
  • He has also been conferred with the Afghanistan’s highest civilian honour, ‘The Amir Amanullah Khan Award’ the same year by Afghan President Ashraf Ghani.
  • He was the first Indian Prime Minister to make an official visit to Palestine and was conferred the ‘Grand Collar of the State of Palestine’, the highest order given to foreign dignitaries – Kings, Heads of State/Government and persons of similar rank by President Mahmoud Abbas in 2018.
  • He has also been conferred with the ‘Order of Zayed’ the UAE’s highest civilian award, in 2019.
  • He has also been conferred with the Russia’s highest state decoration, ‘The Order of St Andrew the Apostle’.
  • He has also been conferred with highest honour of the Maldives awarded to foreign dignitaries ‘The Order of the Distinguished Rule of Nishan Izzuddin’ in 2019.
  • He has also been conferred with highest honour of the Maldives awarded to foreign dignitaries ‘The Order of the Distinguished Rule of Nishan Izzuddin’ in 2019.
  • He has also been conferred with ‘Legion of Merit’ by American President Donald Trump in 2020.
  • He has also been conferred with highest civilian award of Bhutan, ‘Ngadag Pel gi Khorlo or the Order of the Druk Gyalpo’ on the occasion of the country’s National Day.
  • He has also been conferred with ‘The Ebakl Award’ by the President Surangel S. Whipps Jr., during his visit to Papua New Guinea in 2023.
  • He has also been conferred with the highest honour of Fiji, ‘The Companion of the Order of Fiji’ by by Sitiveni Rabuka, the Prime Minister of the Republic of Fiji in 2023.
  • He has also been conferred with ‘The Companion of the order of Logohu’ by Papua New Guinea Governor-General Sir Bob Dadae.

Maternal health initiative 'Manyata' wins the prestigious AVPN Constellation Award

  • Maternal quality improvement and certification initiative from India ‘Manyata’ has won the prestigious Constellation Award by Asia’s leading social investors’ network Asian Venture Philanthropy Network (AVPN).
  • The initiative, which is supported by MSD for Mothers, received the award for catalyzing strategic collaborations to advance gender equality in Asia, at AVPN’s Global Conference 2023 in Kuala Lumpur, Malaysia.
  • ‘Manyata’ aims to strengthen the clinical standards for delivering quality maternity care in the private sector and accelerate the progress towards UN SDGs to make India a safer country for childbirth.

Obituary

Rajya Sabha MP Shri Hardwar Dubey passed away

  • The Bharatiya Janata Party (BJP) senior leader and Rajya Sabha member from Uttar Pradesh Hardwar Dubey passed away at 74.
  • He was a sitting MP elected to the Rajya Sabha in November 2020.
  • The late Dubey, 74, was also elected as a member of Uttar Pradesh Legislative Assembly from Agra Cantonment assembly segment in 1990s and served as a minister in the Kalyan Singh ministry in 1991.

Sports News

Table Tennis, Indian women's doubles pair of Sutirtha and Ayhika clinches WTT Contender tournament title in Tunis

  • The Indian women’s doubles pair of Sutirtha Mukherjee and Ayhika Mukherjee won the World Table Tennis, (WTT) Contender tournament in Tunis, after beating the Japanese pair of Miyuu Kihara and Miwa Harimoto.
  • The pair also became the first Indians to win a Contender title this year.

Union Minister Anurag Thakur inaugurated newly constructed State-of-the-art BSF Hockey Turf Ground at BSF campus Jalandhar

  • Union Information and Broadcasting and Youth Affairs and Sports Minister Anurag Singh Thakur inaugurated newly constructed State-of-the-art BSF Hockey Turf Ground at BSF campus Jalandhar.
  • The stadium has been constructed under Khelo India Scheme with total cost of Rs. 5.50 crores.
  • Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)

Important Days

International Day Against Drug Abuse and Illicit Trafficking 2023

  • The International Day Against Drug Abuse and Illicit Trafficking is a United Nations International Day against drug abuse and the illegal drug tradem is observed annually on 26 June, since 1989.
  • The day commemorate Lin Zexu’s dismantling of the opium trade in Humen, Guangdong, ending on June 25, 1839,just before the First Opium War in China.
  • The observance was instituted by General Assembly Resolution 42/112 of 7 December 1987.
  • Theme – People First: stop stigma and Discrimination, strengthen Prevention

International Day in Support of Victims of Torture

  • The United Nations International Day in Support of Victims of Torture is an international observance held annually on 26 June to speak out against the crime of torture and to honour and support victims and survivors throughout the world.
  • United Nations General Assembly officially designated this date as the International Day in Support of Victims of Torture on 26 June 1997.
  • United Nations General Assembly – 1945 (Founded) –  New York City (HQ) – Dennis Francis (President)

Defence

INS Sunayna sets sail for maritime exercise in Kenya

  • India has conducted maritime exercises with the Kenyan Navy.
  • The exercise coincided with the official visit of Vice Admiral Sanjay Mahindru, Indian Navy’s Deputy Chief of Naval Staff (DCNS).
  • Indigenous INS Sunayna visited Mombasa, Kenya from towards boosting bilateral ties with maritime neighbours on the theme of Ocean Ring of Yoga.
  • Kenya – Nairobi (Capital) – Kenyan shilling (Currency) – William Ruto (President) – Swahili & English (Language)

Daily Current Affairs - June 25 & 26, 2023 - Consolidated

  • PM Modi visit to Egypt
  • UP government approves investment proposals worth Rs 36 lakh crores
  • Delhi man sets Guinness World Record! Covers 286 metro stations in 15 hours
  • World Bank approved USD 255.5 million loan to improve technical education in India
  • S&P retains India’s growth projection at 6% for FY24
  • 8th Global Pharmaceutical Quality Summit 2023
  • Union Minister Parshottam Rupala launched NOC Approvals for New Drugs & Inoculation System
  • India achieved milestone of 101 Million Cubic Meters per Day of gas production
  • DBS Bank India appointed Rajat Verma as managing director and head of institutional banking
  • Mitsotakis to be sworn in as Greek PM
  • Parag Gadre appointed advisor to India Pulses and Grains Association
  • 2023 global competitiveness index
  • 2023 Forbes World’s Most Influential CMOs List
  • Global Startup Ecosystem Report 2023 (GSER 2023)
  • Egypt’s ‘Order of the Nile’ to Prime Minister Narendra Modi
  • Maternal health initiative ‘Manyata’ wins the prestigious AVPN Constellation Award
  • Rajya Sabha MP Shri Hardwar Dubey passed away
  • Table Tennis, Indian women’s doubles pair of Sutirtha and Ayhika clinches WTT Contender tournament title in Tunis
  • Union Minister Anurag Thakur inaugurated newly constructed State-of-the-art BSF Hockey Turf Ground at BSF campus Jalandhar
  • International Day Against Drug Abuse and Illicit Trafficking 2023
  • International Day in Support of Victims of Torture
  • INS Sunayna sets sail for maritime exercise in Kenya

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