Daily Current Affairs – May 04, 2023
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Daily Current Affairs - Banking - May 04, 2023
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National News
TRAI released recommendations on ‘Ease of Doing Business in Telecom and Broadcasting Sector'
- Telecom Regulatory Authority of India (TRAI) had released the recommendations on ‘Ease of Doing Business in Telecom and Broadcasting Sector’.
- Ease of Doing Business (EoDB) has been identified as one of the focus areas of Government in the recent decade.
- Government is striving to improve the business environment at every stage across all the sectors.
- As a sector Regulator, it is incumbent upon TRAI to improve the business environment in the telecom and broadcasting sector.
- The TRAI has suo-moto floated a Consultation paper on “Ease of Doing Business in telecom and Broadcasting Sector” on December 08, 2021.
- Previously, it undertook EoDB consultation mainly specific to DoT and Ministry of Information and Broadcasting (MIB).
- However, the current exercise spans across multiple ministries/departments.
- The EoDB requires comprehensive review of end-to-end processes with ‘Whole of the government’ approach.
- Ministry of Information and Broadcasting – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Loganathan Murugan,Minister of State (Rajya Sabha MP,MP)
UIDAI allowed residents to verify email/mobile number seeded with Aadhaar
- Unique Identification Authority of India (UIDAI) has allowed residents to verify their mobile numbers and email IDs seeded with their Aadhaar.
- It had come to the notice of the UIDAI that in some instances, residents were not aware/sure about that which of their mobile numbers is seeded to their Aadhaar.
- Hence residents were worried that Aadhaar OTP might be going to some other mobile number.
- The facility can be availed under ‘Verify email/mobile Number’ feature on the official website (https://myaadhaar.uidai.gov.in/) or through mAadhaar App.
- It has been developed for the residents to verify that their own email/mobile number is seeded with respective Aadhaar.
- This feature gives confirmation to resident that email/mobile number under his/her knowledge is only seeded to respective Aadhaar.
Centre extended EV battery safety certification deadline by 6 months
- The Centre has extended by six months the deadline to obtain the mandatory electric vehicle (EV) battery safety test certification from the ministry of heavy industries, Business Standard has learnt.
- The certification was compulsory for manufacturers from April 1, 2023, if they wanted subsidies under various EV-promotion schemes.
- The development came after all the automakers, across segments, failed to obtain certifications under the ministry’s November 2022 notification.
- The certification aimed at enhancing human safety of the battery used in EVs by requiring checks at three levels — the cell, battery management system (BMS), and the battery pack.
International News
Ministry of Tourism participated in the Arabian Travel Market (ATM) 2023
- Ministry of Tourism, Government of India, is participating in the Arabian Travel Market (ATM) 2023, being held from in Dubai, UAE.
- The Arabian Travel Market is one of the leading global events for the travel and tourism industry, attracting visitors and exhibitors from around the world. India’s participation in the Arabian Travel Market 2023 is a significant step towards promoting India as a preferred travel destination among the Middle East and North Africa (MENA) markets.
- With its diverse culture, heritage, cuisine, and natural beauty, Adventure, MICE, luxury, wildlife, wellness, India is a popular destination for travellers seeking unique and authentic experiences.
- Ministry of Tourism, is showcasing “Incredible India” and launched Visit India Year 2023 campaign at the event, highlighting India’s diverse tourism offerings and the country’s commitment to sustainable tourism practices.
- The India Pavilion will showcase India’s rich cultural and natural heritage, including its UNESCO World Heritage Sites, wildlife sanctuaries, and spiritual destinations.
- Ministry of Tourism – Gangapuram Kishan Reddy,Union Minister (Secunderabad,Telangana) – Shripad Naik, Minister of State (North Goa,Goa) & Ajay Bhatt, Minister of State (Nainital–Udhamsingh Nagar,Uttarakhand)
India, Israel signed MoU on Industrial Research and Development Cooperation with focus on several key technology areas
- India and Israel signed a Memorandum of Understanding on Industrial Research and Development Cooperation with focus on several key technology areas.
- These are aerospace, Electronics Instrumentation, Civil, Infrastructure and Engineering, Environment, Mining, Chemicals, and Petrochemicals and Agriculture.
- The Multi-Sectoral Agreement was signed between Council of Scientific and Industrial Research, CSIR and Directorate of Defense Research and Development, Ministry of Defense of Israel in New Delhi.
- This agreement will open a new phase in India-Israel partnership in areas like Innovation, Technology, and StartUps.
- Israel – Jerusalem (Capital) – New shekel (Currency) – Isaac Herzog (President) – Benjamin Netanyahu (Prime Minister) – Hebrew (Language)
State News
Cabinet approved investments worth over ₹35,000 crore
- Industrial projects that will bring in investments of about ₹35,000 crore were approved during a meeting of the Cabinet chaired by Chief Minister M.K. Stalin at the Secretariat.
- The major investments include Malaysian energy major Petronas’ proposal to invest about ₹34,000 crores in Thoothukudi to produce green hydrogen, and Geneva-headquartered Swiss company XyloNetics’s to the tune of about ₹700 crores.
- The Swiss company would operate from the International Furniture Park at SIPCOT estate in Thoothukudi.
- The Cabinet also cleared a proposal by a company that is planning to set up an electric vehicles unit with an investment of about ₹70 crores near Chennai.
- It cleared the proposals of existing players such as American construction equipment manufacturer Caterpillar Inc., which is planning to expand its unit in Tiruvallur district with fresh investment of about ₹400 crores.
- It also approved an amendment to extend the period of operation of Wonderla Amusement Park near Chennai.
- During the meeting, the Chief Minister also reviewed the programmes of four Departments.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Foreign Ministers meeting of SCO member countries began in Goa
- A two-day meeting of foreign ministers of Shanghai Cooperation Organisation (SCO) began in Goa.
- Foreign ministers of 8 nations, including Pakistan and China, are expected to fly down to Goa for the key meeting.
- India, which took over the chairmanship of the SCO grouping in September last year, is the host this year.
- The SCO has Russia, India, China, Pakistan, and four central Asian countries – Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan, as its members.
- Goa – Panaji (Capital)– Pramod Sawant (CM) – PS Sreedharan Pillai (Governor) – Konkani (Language)
AP CM laid foundation for Rs 4,600 crores Bhogapuram airport
- Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy laid the foundation stone for the Rs 4,592 crore international greenfield airport at Bhogapuram village in Vizianagaram district, aimed at all round development of the North Andhra region.
- Besides the Bhogapuram airport, the Chief Minister also virtually laid the foundation for Rs 194 crore Taraka Rama Sagaram project and Rs 24 crore Chintapalli Fish Landing Centre in the district.
- Andhra Pradesh – Amaravati (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)
Government approved Rs 687 crores for upgradation of power distribution infrastructure in Ladakh
- The central government has given its approval for the implementation of Revamped Distribution Sector Scheme (RDSS) in the Union Territory of Ladakh with a sanctioned cost of Rs 687.05 crore.
- The ministry of power conveyed its approval to RDSS for implementation in Ladakh.
- Ladakh – Leh (Summer) & Kargil (Winter) (Capital) – B. D. Mishra (Lieutenant Governor) – Hindi & English (Language)
Banking and Finance
South Indian Bank enabled electronic bank guarantee facility for customers
- South Indian Bank has introduced e-BG (Electronic Bank Guarantee) facility for its customers in partnership with National E-Governance Service Ltd (NeSL).
- It facilitates API-based paperless issue of bank guarantees, eliminating the need for physical documentation and record maintenance.
- The bank issued its First e-BG favouring a leading public sector unit for an amount of Rs 4.57 crore through NeSL.
- South Indian Bank’s customers can now procure e-BGs for beneficiaries on-board NeSL.
- Paper-based BGs involve stamping, signing and transferring the physical BGs, while e-BGs are stamped electronically, eliminating the need for purchasing physical stamp paper, printing the documents and physical signatures.
- South Indian Bank – 1929 (Founded) – Thrissur, Kerala (HQ) – Murali Ramakrishnan (MD & CEO) – “Experience Next Generation Banking” (Tagline)
PhonePe goes live with UPI LITE to enable low-value transactions
- Fintech firm PhonePe has gone live with the UPI LITE feature on its app, allowing users to initiate low-value payments under Rs 200.
- The feature can be used with a single tap in UPI LITE accounts without entering a PIN, a passkey.
- The transaction is processed directly by debiting the on-device UPI LITE balance without involving the customers’ banks’ (remitter bank) core banking systems in real-time.
- This makes transactions more seamless and even faster than regular UPI transactions while also increasing the success probability of the transaction.
- UPI LITE on PhonePe, which is owned by USA’s Walmart, is supported by all major banks and is accepted at all UPI merchants and QRs across the country.
- The feature operates through an ‘on-device’ balance that facilitates much faster real-time payment solutions for low-value transactions such as groceries, transit, even during the busiest time slots.
- Users can instantly activate the feature on their PhonePe app through a simple process without KYC authentication and create a UPI LITE account.
- Users can put up to Rs 2000 in their LITE account and make transactions of up to Rs 200 or less in one go.
- This will help in uncluttered bank statements and passbooks, as the transactions would only be visible in LITE accounts.
- PhonePe – 2015 (Founded) – Bangalore (HQ) – Sameer Nigam (Co-Founder & CEO)
HDFC Bank rolled out digital distribution platform for agents, partners
- HDFC Bank has launched digital distribution platform (DDP) ‘HDFC Bank Smart Saathi’, that would help connect business correspondents and business facilitators to the bank.
- This platform was launched in the capital by Department of Financial Services (DFS) Secretary Vivek Joshi and Smita Bhagat, Group Head, Government and Institutional Business, Alternate Banking Channels and Partnerships, Inclusive Banking Group and Start-Ups, HDFC Bank.
- HDFC Bank Smart Saathi will contribute by making banking products and services available, especially credit for rural customers, which will help in the development of the country.
- HDFC Bank – August 1994 (Founded) – Mumbai (HQ) – Sashidhar Jagdishan (CEO) – “We Understand Your World” (Tagline)
Business and Economy
1.5 crore MSMEs on Udyam portal reflection of India’s economic self-reliance
- MSME registration portal Udyam portal, which crossed the 1.5 crore-registration mark in March this year, is a reflection of the economic self-reliance and prosperity of our country, said MSME minister Narayan Rane hailing the growth in registration count since the launch of the portal in July 2020.
- The minister noted the increase in MSMEs registering on the portal from 28 lakhs in the past two years.
- The Udyam portal had 1.72 crore MSMEs registered.
- Maharashtra led the tally with the highest registration count of 29.14 lakh followed by Tamil Nadu with 16.44 lakh registrations, Uttar Pradesh (13.54 lakh), Gujarat (12.02 lakh), and Rajasthan (11.89 lakh).
- Ministry of Micro, Small and Medium Enterprises – Narayan Rane,Union Minister (Rajya Sabha MP,Maharashtra) – Bhanu Pratap Singh Verma,Minister of State (Jalaun,UP)
Appointments
UK Appointed Harjinder Kang As New Trade Commissioner
- Harjinder Kang, Britain’s Chief Negotiator for the India-UK free trade agreement (FTA) named as the country’s new Trade Commissioner to South Asia and Deputy High Commissioner for Western India.
- Harjinder Kang, who will succeed Alan Gemmell as Deputy High Commissioner, will play a pivotal role in supporting the implementation of the FTA expected to bring huge opportunities for UK businesses, according to the British government.
- United Kingdom – London (Capital) – Pound Sterling (Currency) – Charles III (Monarch) – Rishi Sunak (Prime Minister) – English (Language)
Ranks and Indices
The World’s Highest-Paid Athletes 2023
Rank | Name | Earning in Dollar | Sport | Country |
1 | Cristiano Ronaldo | 136 million | Soccer | Portugal |
2 | Lionel Messi | 130 million | Soccer | Argentina |
3 | Kylian Mbappe | 120 million | Soccer | France |
4 | LeBron James | 119.5 million | Basketball | USA |
5 | Canelo Álvarez | 110 million | Boxing | Mexico |
World Press Freedom Index
- India’s ranking in the 2023 World Press Freedom Index has slipped to 161 out of 180 countries, according to the latest report released by global media watchdog Reporters Without Borders (RSF).
- In comparison, Pakistan has fared better when it comes to media freedom as it was placed at 150, an improvement from last year’s 157th rank.
- In 2022, India was ranked at 150.
- Sri Lanka also made significant improvement on the index, ranking 135th this year as against 146th in 2022.
- Norway, Ireland and Denmark occupied the top three positions in press freedom, while Vietnam, China and North Korea constituted the bottom three.
Reports
Future of Jobs Report 2023
- The Future of Jobs Report 2023, suggested that almost a quarter of jobs (23% to be precise) are expected to change in the next five years through growth of 10.2% and decline of 12.3%.
- According to the estimates of the 803 companies surveyed for the report, employers anticipate 69 million new jobs to be created and 83 million eliminated among the 673 million jobs corresponding to the dataset, a net decrease of 14 million jobs, or 2% of current employment.
- The World Economic Forum’s report said India will see a 22% churn as compared to global average of 23%.
- 61% of Indian companies think broader applications of ESG standards will drive job growth, followed by increased adoption of new technologies (59%) and broadening digital access (55%).
Sports News
Odisha extended Indian Hockey team sponsorship till 2033
- The Odisha government decided to further extend its sponsorship for both the Men and Women Indian Hockey Teams (senior and junior) for another ten years from 2023 to 2033.
- The decision in this regard was taken at the Cabinet meeting chaired by chief minister Naveen Patnaik.
- The cabinet on the day approved 15 different proposals submitted by various departments.
- As Odisha has been the official sponsor of both the Men and Women National Hockey Teams since 2018, this support is going to be a significant step towards the growth and development of Hockey in India.
- Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)
Important Days
World Asthma Day
- World Asthma Day is an annual event organized by the Global Initiative for Asthma (GINA) to improve asthma awareness and care around the world.
- World Asthma Day is held on the first Tuesday in May.
- This year observed on May 02.
- World Asthma Day was first established by the Global Initiative for Asthma (GINA) in 1998.
- Theme – “Asthma Care for All”.
World Press Freedom Day
- The United Nations General Assembly declared May 3 to be World Press Freedom Day, observed to raise awareness of the importance of freedom of the press.
- In 1993, the UN General Assembly passed a resolution to officially declare May 3 as World Press Freedom Day.
- Host – New York City
- Theme – “Shaping a Future of Rights: Freedom of expression as a driver for all other human rights”.
Defence
IAF chief VR Chaudhuri presented AN-32 Spares to Commander of Sri Lankan for operationalisation of Aircraft
- Chief of Air Staff Air Marshall VR Chaudhuri presented AN-32 Spares to Commander of Sri Lankan Air Force for operationalisation of the Aircraft held by Sri Lanka.
- The presentation of spares is in line with India’s commitment towards capacity building of Sri Lanka’s Armed Forces and will ensure high operational readiness of the aircraft.
- He also visited Sri Lankan Air Force base at Katunayake and interacted with the SLAF officers.
- Mr. Chaudhari interacted with students at the National Defence College where he presented books worth 1 crore Lankan rupees as a gift from Government of India.
Daily Current Affairs - May 04, 2023 - Consolidated
- TRAI released recommendations on ‘Ease of Doing Business in Telecom and Broadcasting Sector’
- UIDAI allowed residents to verify email/mobile number seeded with Aadhaar
- Centre extended EV battery safety certification deadline by 6 months
- Ministry of Tourism participated in the Arabian Travel Market (ATM) 2023
- India, Israel signed MoU on Industrial Research and Development Cooperation with focus on several key technology areas
- Cabinet approved investments worth over ₹35,000 crore
- Foreign Ministers meeting of SCO member countries began in Goa
- AP CM laid foundation for Rs 4,600 crores Bhogapuram airport
- Government approved Rs 687 crores for upgradation of power distribution infrastructure in Ladakh
- South Indian Bank enabled electronic bank guarantee facility for customers
- PhonePe goes live with UPI LITE to enable low-value transactions
- HDFC Bank rolled out digital distribution platform for agents, partners
- 5 crore MSMEs on Udyam portal reflection of India’s economic self-reliance
- UK Appointed Harjinder Kang As New Trade Commissioner
- The World’s Highest-Paid Athletes 2023
- World Press Freedom Index
- Future of Jobs Report 2023
- Odisha extended Indian Hockey team sponsorship till 2033
- World Asthma Day
- World Press Freedom Day
- IAF chief VR Chaudhuri presented AN-32 Spares to Commander of Sri Lankan for operationalisation of Aircraft
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