Daily Current Affairs – May 02, 2023
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Daily Current Affairs - Banking - May 02, 2023
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State News
India's first cable-stayed Anji-Khad Rail Bridge
- The Anji-Khad rail bridge, India’s first cable-stayed rail bridge, is ready in Jammu and Kashmir.
- The first bridge of its kind is made of 96 cables in total spanning a length of 653km.
- Anji-Khad rail bridge will connect Katra to Reasi in Jammu and Kashmir.
- The bridge has been made using cutting-edge technology and is designed to withstand harsh weather conditions.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
KSUM invited applications for ‘Kerala Innovation Grant’ for start-ups
- Kerala Startup Mission (KSUM) has called out applications for its Innovation Drive 2023, which includes a range of financing grants for innovators, start-ups, and entrepreneurs.
- The grants are designed to support seed funding for translating innovative ideas into technology products and commercialisation.
- Unlike in previous years, start-ups can now apply for innovation grants throughout the year, as needed.
- The innovation grants are divided into four categories: Idea Grant, Productization Grant, Market Acceleration Grant, and Scale-Up Grant.
- Additionally, applications for the ‘Startup Research Grant’ are also open.
Banking and Finance
UPI transactions at record high in April, touch Rs 14.07 trillion
- Unified Payment Interface (UPI) transactions scaled a record high in April, clocking Rs 14.07 trillion in terms of value and 8.9 billion in volume.
- This is a marginal rise of 0.14 per cent and 2 per cent respectively, compared to Rs 14.05 trillion and 8.7 billion in March.
- Compared to April 2022, transactions last month were higher by 59 per cent in terms of volume and 44 per cent in terms of value.
- In April 2022, over 558 crore transactions happened with a value of Rs 9.8 trillion.
GST revenue collection for April 2023
- The Finance Ministry reported the GST collections for the month of April 2023 at Rs 1,87,035 crore, the highest ever.
- Gross GST collection in April 2023 is all time high, Rs 19,495 crore more than the next highest collection of Rs. 1,67,540 lakh crore, in April 2022.
- The gross GST revenue collected in the month of April, 2023 is Rs 1,87,035 crore of which CGST is Rs 38,440 crore, SGST is Rs 47,412 crore, IGST is Rs 89,158 crore (including Rs 34,972 crore collected on import of goods) and cess is Rs 12,025 crore (including Rs 901 crore collected on import of goods).
Bank of India launched Shubh Arambh FD scheme for senior citizens
- Bank of India (BoI) has announced the launch of “Shubh Arambh Deposit” retail term deposit scheme for senior citizens.
- With this special FD scheme, seniors, including super senior citizens aged 80 and above can take benefit of an additional interest rate of 0.50% for senior citizens and 0.65% for super senior citizens.
- With effect from April 1, 2023, the Shubh Arambh Deposit provides super senior citizens seniors with 501-day fixed deposits at a high-interest rate of 7.80%. Other senior citizens between the ages of 60 and 80 can take part in the Shubh Arambh FD scheme at a rate of 7.65%.
- The bank is providing a 7.15% interest rate on a 501-day term for the general public.
- Bank of India – 07/09/1906 (Founded) – Mumbai (HQ) – Atanu Kumar Das (MD & CEO) – “Relationship Beyond Banking”
Tamil Nadu top borrower among States for third year
- For third year in a row, Tamil Nadu has topped the list of States with highest market borrowings.
- According to RBI data, Tamil Nadu’s gross market borrowings through State Development Loans (SDLs) stood at ₹68,000 crores during April-February FY23.
- It was followed by Andhra Pradesh and Maharashtra with ₹51,860 crores and ₹50,000 crores in gross market borrowings, respectively.
- Tamil Nadu stood on top of the borrowing table in the previous two fiscals too.
- The State borrowed ₹87,977 crores in FY21 and ₹87,000 crores FY22.
- However, it is to be noted that for the full FY23, the State’s borrowings are likely to be slightly lower in FY23 compared with the previous two fiscals.
- However the State’s total debt as a percentage of GSDP (Gross State Domestic Product) is well within the limit set by Finance Commission.
- An analysis of the top 10 borrowing States shows that Uttar Pradesh, West Bengal and Karnataka have sharply reduced their borrowings during FY23.
- Uttar Pradesh’s borrowings nearly halved to ₹33,500 crores in the first eleven months of FY23 against ₹62,500 crores in the whole of FY22.
- Robust revenue collections through own tax and non-tax sources have helped many states to reduce their dependence on market borrowings in FY23.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
India, Russia look forward to RuPay, Mir cards transaction
- India and Russia are looking forward to joining hands over the possibility of RuPay and Mir cards transactions in each other’s country for easy payments, amid sanctions imposed by the West on Moscow.
- This was stated by both countries during the India-Russia Intergovernmental Commission for Trade, Economic, Scientific & Cultural Cooperation (IRIGC-TEC) meeting.
- Payment linkage of UPI and the Faster Payments System (FPS) of the Bank of Russia was also agreed.
- Russia – Moscow (Capital) – Russian Ruble (Currency) – Vladimir Putin (President) – Mikhail Mishustin (Prime Minister) – Russian (Language)
Finance Ministry wanted PSU banks to enhance recovery rate from written-off accounts to about 40 %
- The Finance Ministry has asked state-owned lenders to increase it to about 40 per cent.
- Currently, the recovery rate from written-off accounts is less than 15 per cent. Public sector banks (PSBs) could recover only 14 per cent of the written-off loans worth Rs 7.34 lakh crore in the last five years ended March 2022.
- Of Rs 7.34 lakh crore written-off loans, state-owned lenders recovered Rs 1.03 lakh crore.
- So after recovery, the net written-off stood at Rs 6.31 lakh crore at the end of March 2022.
- Banks have written off Rs 11.17 lakh crore as bad loans from their books in the last six years till the financial year 2021-22.
- Public sector banks (PSBs) and private sector banks wrote off an aggregate amount of Rs 8,16,421 crore and Rs 3,01,462 crore, respectively, during the last six financial years.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
Business and Economy
Indifi Tech's assets under management double to Rs 1,500 crore in FY23
- The assets under management (AUM) of MSME digital lending platform Indifi Technologies jumped over 100 per cent in 2022-23 (FY23) to Rs 1,500 crores.
- It announced that it is aiming to double the figure again in FY24.
- Over the year, the share of marketplace lenders in the AUM rose 25 per cent as compared to FY22.
- This contributed 50 per cent, in terms of value, to the total AUM as of March.
- Founded in 2015, lending platform Indifi also helps platforms like Zomato, Swiggy, and Amazon in drawing insights from data on creditworthiness.
- Last year, it had also announced a partnership with Alphabet’s payment app, Google Pay, for helping it source new lending opportunities from merchants.
Power
IIT-Guwahati researchers develop catalyst to produce sustainable green hydrogen fuel
- Researchers at Indian Institute of Technology (IIT)-Guwahati have developed a catalyst that can produce sustainable green hydrogen fuel from wood alcohol with no carbon dioxide as a byproduct.
- The easy and environmentally safe process also produces formic acid which is a useful industrial chemical.
- This makes methanol a promising Liquid Organic Hydrogen Carrier (LOHC) and contributes to the concept of hydrogen-methanol economy.
- The research has been published in journal ACS Catalysis.
Appointments
Justice S.V. Bhatti appointed acting Chief Justice of Kerala
- The Central government has appointed Justice S.V. Bhatti as the acting Chief Justice of Kerala.
- Justice Bhatti succeeds Justice S. Manikumar who retired.
- Justice Bhatti was appointed as a judge to the High Court of the undivided State of Andhra Pradesh in April 2013.
- With the bifurcation of the State, he moved to the Andhra Pradesh High Court.
- He joined the Kerala High Court as a judge in March 2019.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
BARC director Ajit Mohanty appointed chairman of Atomic Energy Commission
- The government has appointed Odia physicist and director of the Bhabha Atomic Research Centre (BARC), Dr Ajit Kumar Mohanty, as the chairman of the Atomic Energy Commission and secretary of the Department of Atomic Energy.
- According to the government order issued Saturday, Kumar will hold the post till the age of 66, or till 10 October 2025.
- Bhabha Atomic Research Centre (BARC) – 03/01/1954 (Founded) – Mumbai (HQ) – Dr Ajit Kumar Mohanty (Chairman)
Sports News
2023 Badminton Asia Championships
- The 2023 Badminton Asia was held at the Sheikh Rashid Bin Hamdan Indoor Hall in Dubai, United Arab Emirates.
Event | Gold | Silver | Bronze |
Men’s singles | Anthony Sinisuka Ginting Indonesia | Loh Kean Yew Singapore | Lu Guangzu China |
Kanta Tsuneyama Japan | |||
Women’s singles | Tai Tzu-ying Taiwan | An Se-young South Korea | Akane Yamaguchi Japan |
China | |||
Men’s doubles | Satwiksairaj Rankireddy & India | Ong Yew Sin & Malaysia | Takuro Hoki & Japan |
Lee Yang & Taiwan | |||
Women’s doubles | Yuki Fukushima & Japan | Baek Ha-na & South Korea | Jongkolphan Kititharakul & Thailand |
Mayu Matsumoto & Japan | |||
Mixed doubles | Jiang Zhenbang & China | Zheng Siwei & China | Goh Soon Huat & Malaysia |
Dejan Ferdinansyah & Indonesia |
- United Arab Emirates – Abu Dhabi (Capital) – UAE dirham (Currency) – Mohamed bin Zayed Al Nahyan (President) – Mohammed bin Rashid Al Maktoum (Prime Minister) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)
Golden Globe Race
- Commander Abhilash Tomy (retd.) created history as the first Indian to complete the Golden Globe Race, finishing in second place after a gruelling 236 days alone at sea in his sail boat named Bayanat, in a journey of grit and endurance.
- South African sailor Kirsten Neuschafer also scripted her name into maritime history, becoming the first woman to win the Golden Globe Race (GGR), a solo, non-stop circumnavigation of the globe without using any modern technological aids, recreating the 1960s on the high seas.
SAI announced schedule for Khelo India University Games Uttar Pradesh 2023
- The Sports Authority of India (SAI) and the Department of Sports and Youth Affairs, Government of Uttar Pradesh have announced the schedule for the 3rd edition of the Khelo India University Games (KIUG) Uttar Pradesh 2023.
- A grand opening ceremony in Lucknow on May 25 will herald the official kick-off of the Games with the same conclusion in Varanasi on June 3.
- The KIUG Uttar Pradesh 2023 will feature around 4,000 athletes from various institutions across the country.
- All athletes will be in the under-27 category and will vie for medals in 21 sports.
- The 12-day-long games will be held in four of Uttar Pradesh’s cities namely Varanasi, Noida and Gorakhpur, besides the state capital of Lucknow.
- The Shooting competition will, however, be organized in New Delhi.
- The Kabaddi competition begins in Noida on May 23rd, 2023 while a few others begin at the various venues on May 24th, 2023, as well.
- Uttar Pradesh – Lucknow (Capital) – Yogi Adityanath (CM) – Anandiben Patel (Governor) – Hindi (Language)
Murali Sreeshankar won gold at MVA High Performance athletics meet
- Indian long jumper Murali Sreeshankar claimed the gold medal with a leap of 8.29m at the MVA High Performance athletics meet 1 held in Chula Vista, USA.
- Competing in only his second event of the season, the 24-year-old, who had won a silver at the 2022 Commonwealth Games, produced a creditable effort which was just 0.07m off his personal best of 8.36m made last year.
- China’s Ma Weidong secured the silver medal with a 7.99m leap, while his compatriot Huafeng Huang claimed the bronze with an effort of 7.61m.
Important Days
World Veterinary Day
- World Veterinary Day is an annual event celebrated on the last Saturday of April.
- This year the day falls on April 29.
- This day is celebrated to increase awareness about the important work of veterinarians in promoting animal health, welfare, and public health.
- The World Veterinary Day (WVD) was established on April 29, 2000, by the World Veterinary Association (WVA).
- Theme – “Promoting Diversity, Equity, and Inclusiveness in the Veterinary Profession”.
World Immunization Week
- World Immunization Week, celebrated in the last week of April (April 24 to 30), aims to highlight the collective action needed and to promote the use of vaccines to protect people of all ages against disease.
- It aims to educate the public about why vaccines are necessary for the health of millions of people around the world.
- First observed in 2012.
- Theme – ‘The Big Catch-Up’.
May 01 Statehood Day
- Maharashtra Day, commonly known as Maharashtra Din in the Indian state of Maharashtra, commemorating the formation of the state of Maharashtra in India from the division of the Bombay State on 1 May 1960.
- Gujarat Day is celebrated on May 1 every year to mark the foundation day of the Indian state of Gujarat.
- The state was established on May 1, 1960.
- Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
World Tuna Day
- World Tuna Day is observed on May 2 throughout the coastal zone of the planet.
- This date was an achievement of fishing communities, scientists, and environmentalists who came together to protect tuna schools around the world and help create a sustainable fishing model.
- In 2016, the United Nations General Assembly established May 2 as World Tuna Day.
- United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Csaba Kőrösi (President)
Defence
Navy ships to be fitted with indigenous Naval Anti-Drone System
- Soon the Indian Navy’s surface warships will get their first indigenously developed anti-drone systems.
- The Naval Anti-Drone System (NADS) which has been developed by Defence Research and Development Organisation with the support of the Indian Navy is being manufactured by Bharat Electronics Limited (BEL).
- In 2021, a contract was signed between Indian Navy and Defence PSU BEL for the supply of the indigenous Naval Anti drone system which is expected to provide an effective way to counter the increased threat to the strategic installations of the Indian Navy.
- Similar contracts have been signed with the Indian Army and Air Force too.
- This drone technology developed in India under the `Atmanirbhar Bharat’ initiative will help the Indian Armed forces in tracking and tackling the fast emerging aerial threats.
- 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)
Daily Current Affairs - May 02, 2023 - Consolidated
- India’s first cable-stayed Anji-Khad Rail Bridge
- KSUM invited applications for ‘Kerala Innovation Grant’ for start-ups
- UPI transactions at record high in April, touch Rs 14.07 trillion
- GST revenue collection for April 2023
- Bank of India launched Shubh Arambh FD scheme for senior citizens
- Tamil Nadu top borrower among States for third year
- India, Russia look forward to RuPay, Mir cards transaction
- Finance Ministry wanted PSU banks to enhance recovery rate from written-off accounts to about 40 %
- Indifi Tech’s assets under management double to Rs 1,500 crore in FY23
- IIT-Guwahati researchers develop catalyst to produce sustainable green hydrogen fuel
- Justice S.V. Bhatti appointed acting Chief Justice of Kerala
- BARC director Ajit Mohanty appointed chairman of Atomic Energy Commission
- 2023 Badminton Asia Championships
- Golden Globe Race
- SAI announced schedule for Khelo India University Games Uttar Pradesh 2023
- Murali Sreeshankar won gold at MVA High Performance athletics meet
- World Veterinary Day
- World Immunization Week
- May 01 Statehood Day
- World Tuna Day
- Navy ships to be fitted with indigenous Naval Anti-Drone System
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