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Daily Current Affairs – May 07 & 08, 2023

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Daily Current Affairs - Banking - May 07 & 08, 2023

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National News

Ministry of Skill Development and Entrepreneurship organised Pradhan Mantri National Apprenticeship Mela in over 200 districts across India

  • Ministry of Skill Development and Entrepreneurship (MSDE) organised the Pradhan Mantri National Apprenticeship Mela (PMNAM) in over 200 districts across the country.
  • The Ministry said that several local businesses and organizations have been invited to be part of this apprenticeship mela to provide relevant apprenticeship training opportunities to local youth.
  • The event will witness the participation of many companies representing various sectors.
  • Through a single platform, participating organizations can connect with potential apprentices, choose from their qualifications on the spot, while strengthening the livelihood opportunities of the youth.
  • Individuals can register for the mela on the website
  • www.apprenticeshipindia.gov.in and find the nearest location of the mela.
  • The candidates who are Class 5 to Class 12 pass out or have skill training certificates or are ITI certificate holders or Diploma holders or graduates can apply in this apprenticeship mela.
  • Apprenticeship Mela is a golden opportunity for India’s youth to connect with the industry and to avail the relevant apprenticeship training opportunities.
  • Apprenticeship melas are held throughout the country on the second Monday of every month.
  • In these melas, selected individuals are offered apprenticeship opportunities during which they receive a monthly stipend in accordance with government criteria for gaining new skills.
  • Apprenticeship is considered the most sustainable model of skill development, and it has been getting a big boost under the Skill India Mission.
  • Ministry of Skill Development and Entrepreneurship – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Rajeev Chandrasekhar,Minister of State (Rajya Sabha MP,Karnataka)

International News

PRET: WHO launched initiative to make world better prepared for future pandemics

  • The World Health Organization (WHO) has launched a new initiative to be better prepared for future outbreaks of a similar scale and devastation as the COVID-19 pandemic.
  • The Preparedness and Resilience for Emerging Threats (PRET) Initiative is aimed at providing “guidance on integrated planning for responding to any respiratory pathogen such as influenza or coronaviruses”.
  • World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)

UAE-India CEPA celebrated first anniversary with "CEPA Beyond Trade" event showcasing commercial and cultural exchange

  • The UAE Ministry of Economy is hosting a special event to mark the first anniversary of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) during the Annual Investment Meeting (AIM) at the Abu Dhabi National Exhibition Center.
  • The event, called CEPA Beyond Trade, will showcase the positive impact of the agreement on commercial and cultural exchange between the two countries over the past 12 months.
  • CEPA Beyond Trade will include panel discussions with industry leaders from both the UAE and India, who will discuss the main successes of the partnership to date and explore how the two sides are collaborating in areas such as food, fashion, and the arts.
  • The event will also feature a street food festival, fashion display, and live entertainment.
  • The UAE-India CEPA, which came into effect on May 1, 2022, was the UAE’s first-ever bilateral trade deal and a cornerstone of the country’s new foreign trade agenda.
  • The event is being supported by Abu Dhabi National Oil Company (ADNOC), who has partnered with the Ministry of the Economy to become a key sponsor of the program.
  • The event is also being supported by AIM, the Lulu Group, The Indian People’s Forum (IPF), and Texmas.
  • 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)

PM Modi will attend France’s Bastille Day Parade

  • Prime Minister Narendra Modi will visit France as a Guest of Honour on July 14 to attend this year’s Bastille Day Parade.
  • Pertinently, the year 2023 marks the 25th anniversary of the India-France Strategic Partnership.
  • The Ministry of External Affairs informed that an Indian armed forces contingent will participate in the Parade alongside their French counterparts.
  • France – Paris (Capital) – Euro (Currency) – Emmanuel Macron (President) – Élisabeth Borne (Prime Minister) – French (Language)

Shantanu Thakur flagged off vessel ‘M.V. MSS Galena’ from V.O. Chidambaranar Port to Maldives

  • Minister of State for Ports, Shipping and Waterways, Shri Shantanu Thakur flagged off the vessel ‘M.V. MSS Galena’ from V.O. Chidambaranar Port, as the Direct Shipping Service between Tuticorin to Maldives.
  • Memorandum of Understanding signed for Establishment of Passenger and Cargo Services by Sea between Ministry of Port, Shipping & Waterways, Government of India, and Ministry of Transport and Civil Aviation, Government of Maldives on 08.06.2019, during the State Visit of Prime Minister of India to Maldives.
  • This is also in line with ‘Neighbourhood-First Policy’ and the vision of Security and Growth for all in the Region.
  • The vessel ‘M.V. MSS Galena’, a vessel with carrying capacity of 421 TEUs of containers & provision to carry bulk cargo, deployed by Shipping Corporation of India.
  • Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)

State News

Centre for Innovation Incubation Research and Entrepreneurship inaugurated in Telangana

  • In Telangana, the Centre for Innovation Incubation Research and Entrepreneurship (C-i2 RE) was inaugurated by IT Minister K Taraka Ramarao at the Kakatiya Institute of Technology & Science (KITS) Warangal campus.
  • The main objective of the Innovation Centre is to face the latest Engineering, technological and entrepreneurship challenges in the 21st Century and to adopt advanced technologies.
  • KITS Warangal is known for its quality education and the ethical behaviour of students in their place of work.
  • Telangana – Hyderabad (Capital) – K Chandrashekar Rao (CM) – Tamilisai Soundarajan (Governor) –Telugu (Language)

Banking and Finance

Paytm’s loan disbursements grew by 148% in April; number of loans disbursed rises by 56% YoY

  • One97 Communications, which owns the Paytm brand, said that its loan disbursements grew 148 per cent in April 2023 at ₹4,115 crores (₹1,657 crores).
  • However, the latest loan disbursal amount was lower than the March 2023 disbursement level of ₹4,468 crores.
  • The number of loans disbursed for the month under review grew 56 per cent year-on-year to 4.1 million, the same level as the previous month.
  • Paytm (pay through mobile) – August 2010 (Founded) – Noida,UP (HQ) –
  • Vijay Shekhar Sharma (CEO)

Agreements and MoUs signed

NSDC Signed MoU with Pernod Ricard India Foundation for Empowering Tribal Women in Jharkhand

  • National Skill Development Corporation (NSDC), working under the aegis of the Ministry of Skill Development and Entrepreneurship (MSDE), has signed an MoU with Pernod Ricard India Foundation (PRIF), a CSR arm of the fast-growing multinational alcohol beverage company to develop a multi-skilling centre in the Gumla district of Jharkhand.
  • The partnership is focused on empowering women within the local tribal population.
  • The centre will act as a key hub to understand the latest technology and trends related to all phases of the agriculture business, from the pre-sowing to the post-harvest stage.
  • The MoU was exchanged between Shri Ved Mani Tiwari, COO, (Officiating CEO) NSDC, and Sashidhar Vempala, Chief Sustainability Officer and Head CSR, Pernod Ricard India.
  • Jharkhand – Ranchi (Capital)– Hemant Soren (CM) – CP Radhakrishnan (Governor) – Hindi (Language)

Power

PTC India signed pact for 115 MW power supply from VS Lignite Power

  • Power trading solution provider PTC India has inked a long-term power purchase agreement with VS Lignite Power for 115 MW of electricity supply.
  • PTC India executed a long-term power purchase agreement (PPA) for 115 MW with VS Lignite Power Pvt. Ltd.
  • VS Lignite operates a 135-MW lignite-fired power plant in Bikaner district of Rajasthan.
  • PTC India Limited (Power Trading Corporation of India Limited) – 16/04/1999 (Founded) – New Delhi (HQ) – Dr.Rajib.K.Mishra (Chairman & MD)

SJVN secures 100 MW wind power project in Gujarat

  • State-owned SJVN Ltd has secured a 100 MW grid-connected wind power project in Gujarat, Chairman and Managing Director Nand Lal Sharma.
  • The project was awarded to SJVN Green Energy Limited, a wholly-owned subsidiary of SJVN, through a competitive bidding process followed by an e-reverse auction organized by Gujarat Urja Vikas Nigam Limited.
  • The project, with an estimated cost of $108 million, will be developed by SGEL through an EPC contract and can be set up anywhere in India.
  • In its first year, it is projected to generate 281 million units of electricity, with a 25-year total of 7,025 million units.
  • The project will also help reduce carbon emissions by 344,255 tons.
  • SJVN, formerly known as Satluj Jal Vidyut Nigam – 1988 (Founded) – Shimla (HQ) – Nand Lal Sharma (Chairman & MD)

Acquisitions and Mergers

Aditya Birla Fashion acquired 51% stake in TCNS Clothing for Rs 1,650 crores

  • Aditya Birla Fashion has entered into definitive agreements to acquire 51% stake in TCNS Clothing, owner of the listed women’s branded apparel retailer that owns brands such as W, Aurelia, Wishful, Folksong, and Elleven, for Rs1650 crore.
  • As part of the transaction, ABFRL will make a conditional open offer to acquire up to 29% stake at Rs 503 per share from public shareholders and acquire the remaining stake from the founder promoters to reach an overall shareholding of 51% in TCNS.
  • Post the deal, TCNS will be amalgamated with ABFRL under the merger scheme where public shareholders of TCNS will receive 11 shares of ABFRL for every six shares that they hold in TCNS.

Appointments

Charles III crowned as King of UK

  • King Charles has been crowned at his Coronation in London.
  • Charles III has taken his oath and been crowned King in a ceremony witnessed by over two thousand guests and dignitaries in Westminster Abbey.
  • The Archbishop of Canterbury placed the St Edward’s Crown on the King’s head during a ceremony at Westminster Abbey.
  • After the King was crowned, his wife Camilla as crowned Queen.
  • United Kingdom – London (Capital) – Pound Sterling (Currency) – Charles III (Monarch) – Rishi Sunak (Prime Minister) – English (Language)

Reports

Global Report on Food Crises 2023

  • The 7th edition of Global Report on Food Crises (GRFC) 2023 was produced by the Food Security Information Network (FSIN) and released by the Global Network against Food Crises (GNAFC) highlights that the number of people experiencing high levels of acute food insecurity and requiring urgent food and livelihood assistance increased for the fourth consecutive year in 2022.
  • Over a quarter of a billion people were estimated to face acute hunger, with economic shocks and the Ukraine war contributing to the increase.
  • In 2022, around 258 million people across 58 countries and territories faced acute food insecurity at crisis or worse levels (IPC/CH Phase 3-5), up from 193 million people in 53 countries and territories in 2021.
  • Published by the Food Security Information Network (FSIN) in support of the Global Network against Food Crises (GNAFC), the GRFC 2023 is the reference document for global, regional and country-level acute food insecurity in 2022 in GRFC-identified countries.
  • The report is the result of a collaborative effort among 16 partners to achieve a consensus-based assessment of acute food insecurity in countries with food crises, and aims to inform humanitarian and development action by independent and consensus-based evidence and analysis.

Awards and Recognitions

Russian poet Maria Stepanova won Leipzig Book Prize

  • Maria Stepanova, a powerful contemporary voice of Russian literature now living in exile in Berlin, has been awarded the prestigious Leipzig Book Prize for European Understanding in 2023.
  • The Russian-Jewish author, whose novel In Memory of Memory explores Stalinism and the fall of the Soviet Union, was nominated for the Booker Prize in 2021, was honored in Leipzig on Tuesday for her volume of poetry, Girls Without Clothes.
  • Russia – Moscow (Capital) – Russian Ruble (Currency) – Vladimir Putin (President) – Mikhail Mishustin (Prime Minister) – Russian (Language)

Sports News

India bagged 14 medals at Asia Cup stage-2 Archery World Ranking tournament

  • India has bagged 14 medals at the Asia Cup Stage 2 World Ranking Tournament to top the event in Tashkent.
  • The compound archers made a clean sweep in the Men’s and Women’s section to have a share of five gold, two silver and two bronze and the Recurve archers added two gold and three silver to propel India to the top spot in final standings with 14 medals.

Doha Diamond League title

  • Neeraj Chopra claimed a season-opening victory at the Doha Diamond League meet, but once again fell short of breaching the 90m mark.
  • Chopra’s first throw of 88.67m was good enough to win him the title as it was never bettered by a stacked field on a night with challenging conditions in Doha.
  • Finishing behind the Indian were Tokyo 2020 silver medallist Jakub Vadlejch (whose best attempt of 88.63m was just four centimeters behind Chopra) and world champion Anderson Peters, whose best attempt was a throw of 85.88m.

Asian Championships

  • Indian weightlifter Bindyarani Devi clinched an overall silver in the women’s 55kg competition at the Asian Championships in Jinju, South Gyeongsang Province, South Korea.
  • The Commonwealth Games silver medallist had a total effort of 194kg (83kg+111kg), as she opened India’s medal tally in this edition of the championship.
  • She also won the silver in the clean and jerk section.
  • Indian weightlifter Jeremy Lalrinnunga won a silver in snatch.
  • The 20-year-old, however, won a silver medal in the snatch event with a personal best-equalling lift of 141kg in the non-Olympic 67kg weight class.
  • South Korea – Seoul (Capital) – Korean (Language) – Yoon Suk-yeol (President) – Han Duck-soo (Prime Minister) – Han Duck-soo (Currency)

Praveen Chithravel breaks National record in Cuba

  • Indian athlete Praveen Chithravel won the men’s triple jump event at an athletics meet in Havana, Cuba, with a national record-breaking mark of 17.37m.
  • The previous men’s triple jump national record of 17.30m was set by Renjith Maheswary at the third Indian Grand Prix in Bangalore in 2016.
  • Praveen Chithravel achieved his record-breaking mark with his fifth jump at the Prueba de confrontacion 2023 with a headwind reading of -1.5m/s.
  • The permissible wind assistance for official records is +2.0m/s.
  • Cuba – Havana (Capital) – Cuban peso (Currency) – Miguel Díaz-Canel (President) – Manuel Marrero Cruz (Prime Minister) – Spanish (Language)

Important Days

World Athletics Day 2023

  • World Athletics Day 2023 is celebrated on May 07, to mark the importance of athletes and sportspersons globally.
  • World Athletics Day was established in 1996 by the International Association of Athletics Federations (IAAF) president and Italian sports official Primo Nebiolo.
  • The IAAF was founded in Stockholm, Sweden, on July 17, 1912.
  • The organization changed its name to World Athletics in 2019.
  • Theme – “Athletics for All – A New Beginning”

International No Diet Day

  • International No Diet Day is observed on May 6 every year and was first started by Mary Evans in 1992.
  • The purpose of the day was to help men and women around the world to appreciate their own.
  • The day aims to tackle tough issues regarding diet and body awareness.

Defence

INS Magar decommissioned after 36 years of service

  • Indian Naval Ship Magar, Landing Ship Tank (Large) amphibious assault ship of the Indian Navy decommissioned after 36 years of exceptional service to the nation.
  • The Decommissioning ceremony was held at Southern Naval Command, Kochi.
  • The ship was indigenously built by Garden Reach Shipbuilders & Engineers Ltd, Kolkata.
  • She was launched on 16 November 1984 and commissioned into the Indian Navy on 18 July 1987 by Admiral R H Tahiliani, then Chief of the Naval Staff.
  • Commander D.B Roy was the first Commanding Officer.
  • The ship has a displacement of 5,600 tonnes, a length of 125 metres, a beam of 17 metres.
  • INS Magar is the lead ship of the Magar class amphibious warfare vessels of the Indian Navy.
  • The ship has been a vital asset of the Indian Navy for over 30 years and participated in various naval operations ranging from amphibious operations, Fleet deployments and HADR missions.
  • The major operations undertaken by the ship include Op Pawan, wherein she played a pivotal role in movement of logistics supplies to the area of operation, in support of the forces on ground.
  • The ship has also played a key role in a number of HADR operations, the most noteworthy being during the December 2004 Tsunami wherein it was instrumental in evacuation of over 1,300 civilians from the affected areas.
  • ‘Magar’ has been named after a species of crocodile.
  • The crest design depicts a Brown coloured crocodile with its mouth open swimming over White and Blue ocean waves.
  • The aft portion of the crest shows a cut out of the thick and impenetrable armour like skin of the crocodile.
  • The design has been taken from a Mathura sculpture of 1st Century AD, preserved in original in the Lucknow museum.
  • 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 07 & 08, 2023 - Consolidated

  • Ministry of Skill Development and Entrepreneurship organised Pradhan Mantri National Apprenticeship Mela in over 200 districts across India
  • PRET: WHO launched initiative to make world better prepared for future pandemics
  • UAE-India CEPA celebrated first anniversary with “CEPA Beyond Trade” event showcasing commercial and cultural exchange
  • PM Modi will attend France’s Bastille Day Parade
  • Shantanu Thakur flagged off vessel ‘M.V. MSS Galena’ from V.O. Chidambaranar Port to Maldives
  • Centre for Innovation Incubation Research and Entrepreneurship inaugurated in Telangana
  • Paytm’s loan disbursements grew by 148% in April; number of loans disbursed rises by 56% YoY
  • NSDC Signed MoU with Pernod Ricard India Foundation for Empowering Tribal Women in Jharkhand
  • PTC India signed pact for 115 MW power supply from VS Lignite Power
  • SJVN secures 100 MW wind power project in Gujarat
  • Aditya Birla Fashion acquired 51% stake in TCNS Clothing for Rs 1,650 crores
  • Charles III crowned as King of UK
  • Global Report on Food Crises 2023
  • Russian poet Maria Stepanova won Leipzig Book Prize
  • India bagged 14 medals at Asia Cup stage-2 Archery World Ranking tournament
  • Doha Diamond League title
  • Asian Championships
  • Praveen Chithravel breaks National record in Cuba
  • World Athletics Day 2023
  • International No Diet Day

  • INS Magar decommissioned after 36 years of service

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