Daily Current Affairs – May 11, 2023
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Daily Current Affairs - Banking - May 11, 2023
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International News
India, Israel signed agreement on agriculture and water cooperation
- Strategic partners India and Israel deepened their collaborations in the water and agriculture sectors with the formal exchange of agreements held between the two sides.
- The proposed agreements were signed during Israeli Foreign Affairs Minister Eli Cohen’s visit to India.
- India and Israel exchanged two Letters of Intent (LoI) for setting up of Centres of Water Technology at IIT, Roorkee, and IIT, Madras and another LoI for the establishment of an upgraded Centre of Innovation in Agriculture at ICAR, Pusa, New Delhi.
- Further, an important agreement on mobility was also exchanged.
- The agreement will allow 42,000 Indian workers to work in Israel in the fields of construction and nursing.
- The Confederation of Indian Industry has signed MoUs with the Manufacturers’ Association of Israel, the Israel Export and the International Cooperation Institute, and the Israel-Asia Chamber of Commerce.
- Israel – Jerusalem (Capital) – New shekel (Currency) – Isaac Herzog (President) – Benjamin Netanyahu (Prime Minister) – Hebrew (Language)
International Jewellery Exposition Centre in Dubai
- Shri Rajesh Kumar Singh, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry along with H.E. Mr. Juma Mohammed Al-Kait, Assistant Undersecretary for International Trade, Ministry of Economy, United Arab Emirates and Sh. Sunjay Sudhir, Ambassador of India to the UAE, inaugurated the International Jewellery Exposition Centre in Dubai, UAE and participated in a Business-to-Business (B-2-B) event organised by the Gems and Jewellery Export Promotion Council (GJEPC) as part of the celebrations of the 1st Anniversary of the implementation of India-UAE Comprehensive Economic Partnership Agreement (CEPA).
- India-UAE bilateral trade touches all-time high of USD 84 Billion in FY 2022-23 growing at around 20% after India-UAE CEPA implemented.
- 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)
India extended $1 billion credit line for Sri Lanka by a year
- India has extended a $1 billion credit line for Sri Lanka by one year.
- The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis early last year, was scheduled to end in March.
- Post-negotiations, the credit line was extended until March 2024.
- Sri Lanka – Sri Jayawardenepura Kotte (legislative) Colombo (executive and judicial) (Capital) – Sri Lankan rupee (Currency) – Ranil Wickremesinghe (President) – Dinesh Gunawardena (Prime Minister) – Sinhala & Tamil (Language)
State News
Telangana Government introduced a Robotics Framework for providing roadmap to promote robotic ecosystem in State
- The Telangana Government has introduced a Robotics Framework, for providing a roadmap to promote a robotic ecosystem in the State.
- This is the first-of-its-kind policy in the country.
- Under the initiative, the Government will set up a Telangana Robotics Innovation Centre (TRIC) to implement the framework which will focus on the key pillars of infrastructure access, business enablement, fostering research and innovation, development of a skilled workforce, and responsible deployment.
- The framework will promote an innovation ecosystem that will help the State manufacture robots not only for the country but for the world.
- The State government signed Memoranda of Understanding with IIT-Hyderabad, AgHub of State Agriculture University, and a few others to enhance the robotics ecosystem in the state and promote innovation, research, and growth in the field.
- The Government will set up a Robo Park, which will provide testing facilities, co-working options, and co-production/manufacturing options.
- It will also establish a robotics accelerator to provide start-ups with incubation, infrastructure, authorisation support, market insights, investor connect, and mentorship support.
- Telangana – Hyderabad (Capital) – K Chandrashekar Rao (CM) – Tamilisai Soundarajan (Governor) –Telugu (Language)
Punjab becomes first state to enforce 'Right to walk' for pedestrians; footpaths, cycle tracks along new roads mandatory
- Punjab has taken the lead among the states and UTs to implement the ‘right to walk’ by making it mandatory for all road-owning agencies, including the NHAI, to provide footpath and cycle tracks in all future expansion of roads and construction of new ones.
- Punjab – Chandigarh (Capital) – Bhagwant Singh Mann (CM) – Banwarilal Purohit (Governor) – Punjabi (Language)
Schemes
Swachh Bharat Mission Gramin
- In yet another remarkable achievement under the Swachh Bharat Mission Gramin (SBM-G) initiative, 50% of the total villages in India have acquired the ODF Plus status under phase II of the mission.
- An ODF Plus village is that village that successfully sustained its Open Defecation Free (ODF) status, in addition to implementing either solid or liquid waste management systems.
- Till date, more than 2.96 lakh villages have declared themselves ODF Plus, which can be seen as a very positive development towards realising the SBM-G phase II goals by 2024-25.
- The states with the highest percentage of ODF Plus villages are Telangana with 100%, Karnataka with 99.5%, Tamil Nadu with 97.8%, and Uttar Pradesh with 95.2%, while the top performing small states are Goa with 95.3% and Sikkim with 69.2%.
- Among the Union Territories, Andaman & Nicobar Islands, Dadra Nagar Havelli & Daman Diu, and Lakshadweep have achieved 100% ODF Plus Model villages.
- These states and union territories have made significant strides in achieving the ODF Plus status, and their contributions have played a crucial role in reaching this milestone.
- Prime Minister of India introduced the Swachh Bharat Mission on October 2nd, 2014.
- The mission aimed to have all villages, Gram Panchayats, Districts, States, and Union Territories in India become “open-defecation free” (ODF) by constructing over 100 million toilets in rural India by October 2nd, 2019, which marked the 150th birth anniversary of Mahatma Gandhi.
Uttarakhand cabinet approved CM skill upgradation, employment scheme
- The Uttarakhand government approved the Chief Minister Skill Upgradation and Global Employment Scheme (Mukhya Mantri Kaushal Unnayan aur Vaishavik Rozgar Yojana) to help youths of the state pursue careers abroad.
- The special thing about the scheme is that youths interested in pursuing careers abroad will be prepared by the state government which will develop their skills accordingly and help selected candidates in getting their tickets and visas.
- Uttarakhand – Dehradun (Winter), Gairsain (Summer) (Capital) – Pushkar Singh Dhami (CM) – Gurmit Singh (Governor) – Hindi (Language)
Banking and Finance
Axis Bank linked RuPay credit cards with UPI
- Private sector lender Axis Bank has successfully enabled linkage of RuPay credit cards with Unified Payments Interface (UPI).
- Customers can now use their RuPay credit card as a mode of payment while scanning UPI QR codes or at merchant’s UPI checkout page.
- The feature will allow bank customers to receive credit card rewards and the lender is rolling out the functionality in phases.
- Axis Bank has become the latest entrant in the list of banks that offer customers to link their RuPay credit card with UPI, with other banks being Canara Bank, HDFC Bank, Indian Bank, Punjab National Bank and Union Bank of India.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
Sebi levied Rs 35 lakh fine on seven entities for non-genuine trades
- Capital markets regulator Sebi levied fines totalling Rs 35 lakh on seven entities for indulging in non-genuine trades in the illiquid stock options segment on BSE.
- In seven separate orders, the regulator slapped a fine of Rs 5 lakh each on Pawan Kumar Sarawagi HUF, Subh Laxmi Trading Co, STIC Tradecomm, Starlight Devcon, Devesh Commosale, Devinder Kumar and Kishorechandra Gulabbhai Desai.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
Reserve Bank’s gold reserves rose 4.5% to 794.64 tonnes in 2022-23
- The Reserve Bank of India (RBI) added 34.22 metric tonnes of gold in the fiscal year that ended March 31, 2023, taking the total gold reserves to 794.64 metric tonnes.
- RBI held 760.42 metric tonnes as of March 31, 2022, compared to 695.31 metric tonnes as of March 31, 2021.
- The gold reserves as of March 31, 2023, included gold deposits of 56.32 metric tonnes, according to the RBI’s half-yearly report on Management of Foreign Exchange Reserves- October 2022 – March 2023.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Yes Bank Announced ‘YES KIRAN’ Solar Financing Scheme For MSMEs
- Private lender Yes Bank launched a new lending programme YES KIRAN for MSME manufacturers seeking to install solar panels at their premises.
- The programme aims to support the adoption of sustainable energy practices by small and mid-sized enterprises while also bringing in cost efficiency by helping them curtail their expenses towards power and fuel.
- According to the programme’s details, a term loan of up to Rs 3 crore for six years with a moratorium of six months will be provided for ground/rooftop mounted solar panel installation for captive electricity consumption of manufacturers.
- Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)
Federal Bank goes live with electronic Bank Guarantee in partnership with NeSL
- Federal Bank has gone live with NeSL for the issuance of electronic Bank Guarantee facility.
- With this partnership, customers of Federal Bank can now avail of a complete digital experience while getting a Bank Guarantee.
- This will, in due course, replace the traditional paper-based process.
- Electronic Bank Guarantee facilitates the issuance, invocation, amendment, and cancellation of Bank Guarantee in digital form and removes the need of printing any document/request thereof.
- It is safe, secure, and fast, facilitating the trade/business activities.
- Individual, Sole Proprietor, Company, Partnership Firm, Govt. Agencies, Association of People, Body of Individuals are eligible to avail of this facility.
- This is currently available only in states where e-stamping is available.
- Federal Bank – 23/04/1931 (Founded) – Aluva, Kochi (HQ) – Shyam Srinivasan (MD & CEO) – “Your Perfect Banking Partner” (Tagline)
Business and Economy
Gross monthly inflow through SIP may touch ₹18,000 crores by end-FY24
- Gross monthly inflows into mutual fund schemes through the systematic investment plan (SIP) route, which grew nearly 16 per cent to Rs 14,276 crore in March this year, is likely to touch Rs 17,000-18,000 crore a month by the end of this fiscal.
- The total inflows were close to Rs 12,328 crore in March 2022.
- According to NS Venkatesh, Chief Executive, Association of Mutual Funds in India (AMFI), the number of unique folios is likely to increase by around 20 per cent to touch 4.5-4.8 crore by the end of 2023-24, from 3.96-4 crore folios at present.
- The gross monthly inflows are likely to increase by 25-28 per cent to touch Rs 17,000-18,000 crore a month by the end of this fiscal.
- Association of Mutual Funds of India (AMFI) – 1995 (Founded) – Mumbai (HQ) – N. S. Venkatesh (Chief Executive)
Agreements and MoUs signed
Assam government inked MoUs for investments to the tune of Rs. 8201.29 crore
- Assam witnessed major private investment initiatives, as State government inked nine Memorandum of Understandings (MoUs) with nine companies at a function in Guwahati.
- It may be noted that as a part of the MoUs decks have been cleared for private investment estimated to the tune of Rs. 8201.29 crore.
- Commissioner, Industries, Commerce and Public Enterprises Oinam Sarankumar Singh signed the agreements with the industry players like PepsiCo India Holding Limited, Varun Beverages Limited, Calcom Cement India Limited, Star Cement NE Limited, Century Float Glass Limited, Taj Cement Manufacturing Pvt. Limited, Star Cement India Limited and DS Group.
- Assam– Dispur (Capital) – Himanta Biswa Sarma (CM) – Gulab Chand Kataria (Governor) – Assamese & Boro (Language)
Science and Technology
Union Health Ministry launched a learning management information system named SAKSHAM
- Union Health Ministry has launched a learning management information system SAKSHAM, Stimulating Advanced Knowledge for Sustainable Health Management.
- SAKSHAM is a platform for providing online training and medical education to all health professionals in the country.
- SAKSHAM was launched by the Health Secretary Rajesh Bhushan.
- This digital learning platform will ensure inclusive capacity building of health professionals.
- Presently, the platform is hosting more than two hundred public health and 100 clinical courses through online mode.
- Health professionals can register for these courses through lmis.nihfw.ac.in and get certification after undergoing requisite training and qualifying the required assessment criteria.
- The platform has been developed by the National Institute of Health & Family Welfare, New Delhi.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra)
IIT Madras, Defence Research and Development Organisation developed sensor technology for underwater communications
- Researchers at the Indian Institute of Technology Madras and scientists of the Defence Research and Development Organisation (DRDO) have developed a cutting-edge sensor technology for underwater communications that the Navy can apply.
- The indigenous technology will enable the fabrication of devices at a relatively lower cost as compared to international foundries, where not only is the cost of fabrication high but also the number of foundries is limited.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Appointments
Parminder Chopra, first woman to lead India’s largest NBFC
- The Public Enterprise Selection Board (PESB) has recommended the name of Parminder Chopra to succeed as the next CMD of India’s largest NBFC by networth (all reserves), Power Finance Corporation (PFC).
- Chopra will be the first woman to be appointed as the Chairman and Managing Director (CMD) of the Maharatna company.
- She has been with the company since 2005 and has been serving as the Director (Finance) and CFO since 2020, as well as a member of the board of directors, said the non-banking financial company (NBFC) for the power sector.
Reports
Born too soon: Decade of Action on Preterm Birth
- Born too soon: decade of action on preterm birth, produced by the World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF) together with PMNCH — the world’s largest alliance for women, children, and adolescents, sounds the alarm on a “silent emergency” of preterm birth, long under-recognized in its scale and severity, which is impeding progress in improving children’s health and survival.
- The report includes updated estimates from WHO and UNICEF, prepared with the London School of Hygiene and Tropical Medicine, on the prevalence of preterm births.
- Overall, it finds that preterm birth rates have not changed in any region in the world in the past decade, with 152 million vulnerable babies born too soon from 2010 to 2020.
- Preterm birth is now the leading cause of child deaths, accounting for more than 1 in 5 of all deaths of children occurring before their 5th birthday.
- Preterm survivors can face lifelong health consequences, with an increased likelihood of disability and developmental delays.
- An estimated 13.4 million babies were born pre-term in 2020, with nearly 1 million dying from preterm complications.
- This is equivalent to around 1 in 10 babies born early (before 37 weeks of pregnancy) worldwide.
- World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)
- United Nations International Children’s Emergency Fund (UNICEF) – 11/12/1946 (Founded) – New York (HQ) – Catherine Mary Russell (Executive Director)
Awards and Recognitions
President Droupadi Murmu conferred 37 Gallantry awards
- President Droupadi Murmu conferred eight Kirti Chakras, including five posthumous, and 29 Shaurya Chakras, including five posthumous, upon the personnel of the Armed Forces, Central Armed Police Forces and State or Union Territory Police during Defence Investiture Ceremony (Phase-1) in New Delhi.
- The Gallantry awards were given to the personnel for displaying conspicuous gallantry, indomitable courage and extreme devotion to duty.
- SHAURYA CHAKRA (Non Posthumous)
S. No. | Name and Other Details | Service |
1. | Shri Amit Kumar, Assistant Commandant, CRPF | MHA |
2. | Shri Satendra Singh, Assistant Commandant, 21 BN, CRPF | MHA |
3. | 2693096F Havildar Ghanshyam (now Naib Subedar), The Grenadiers, 55th Battalion, The Rashtriya Rifles | Army |
4. | (i) Shri Vikki Kumar Pandey, Deputy Commandant, 209 CoBRA, CRPF (ii) Shri Vijay Oraon, Constable/GD, 209 CoBRA, CRPF | MHA (Act performed together) |
5. | Lieutenant Commander Mritunjay Kumar (07456-W) | Navy |
6. | IC-78962W Major Amit Dahiya, Sena Medal, 1st Battalion, The Parachute Regiment (Special Forces) | Army |
7. | (i) Shri Somay Vinayak Munde, IPS, Addl. Superintendent of Police (now Superintendent of Police), Maharashtra Police (ii) Shri Ravindra Kashinath Naitam, Head Constable, Maharashtra Police (iii) Shri Tikaram Sampatrao Katenge, Police Naik, Maharashtra Police | MHA (Act performed together) |
8. | IC-72252H Major Nitin Dhaania, 2nd Battalion, The Parachute Regiment (Special Forces) | Army |
9. | 14941570X Lance Naik Raghvendra Singh, The Mechanised Infantry, 9th Battalion, The Rashtriya Rifles | Army |
10. | IC-80532L Major Sandeep Kumar, The Grenadiers, 55th Battalion, The Rashtriya Rifles | Army |
11. | SS-47677W Major Abhishek Singh, The Mechanised Infantry, 50th Battalion, The Rashtriya Rifles | Army |
12. | (i) Squadron Leader Sandeep Kumar Jhajhria, (33270) Accounts/Garud (ii) Corporal (now Sergeant) Anand Singh, (954576) Indian Air Force (Garud) | Air Force (Act performed together) |
13. | IC-77164W Major Aditya Bhadauria, The Kumaon Regiment, 50th Battalion, The Rashtriya Rifles | Army |
14. | (i) Group Captain Yogeshwar Krishnarao Kandalkar, (27207) Flying (Pilot) (ii) Flight Lieutenant Tejpal, (36539) Meteorology/Garud (iii) Leading Aircraftman Sunil Kumar, (990231) Indian Air Force (Security) | Air Force (Act performed together) |
15. | SS-48529X Captain (now Major) Yudhvir Singh, The Mechanised Infantry, 9th Battalion, The Rashtriya Rifles | Army |
16. | SS-48830N Captain Rakesh T R, 9th Battalion, The Parachute Regiment (Special Forces) | Army |
17. | 13779485Y Lance Naik Vikas Choudhary, The Jammu and Kashmir Rifles, 3rd Battalion, The Rashtriya Rifles | Army |
18. | SS-48517H Captain (now Major) Arun Kumar, The Kumaon Regiment, 13th Battalion, The Rashtriya Rifles | Army |
- KIRTI CHAKRA (Non Posthumous)
S. NO | NAME AND OTHER DETAILS | SERVICE |
1. | 15486168N Naik Devendra Pratap Singh, The Armoured Corps, 55th Battalion, The Rashtriya Rifles | Army |
2. | SS-46926X Major Shubhang, The Dogra Regiment, 62nd Battalion, The Rashtriya Rifles | Army |
3. | 3011334X Naik Jitendra Singh, The Rajput Regiment, 44th Battalion, The Rashtriya Rifles | Army |
- SHAURYA CHAKRA (Posthumous)
S No | Name and Other Details | Service |
1. | 9115892W Rifleman Aurangzab, Jammu and Kashmir Light Infantry, 44th Battalion, The Rashtriya Rifles | Army |
2. | 3017767L Sepoy Karn Veer Singh, The Rajput Regiment, 44th Battalion, The Rashtriya Rifles | Army |
3. | 15240522P Gunner Jasbir Singh, The Regiment of Artillery, 19th Battalion, The Rashtriya Rifles | Army |
4. | 665/SPO Constable Mudasir Ahmad Sheikh, Jammu and Kashmir Police (Baramulla) | Army |
5. | 13773112P Naik Jasbir Singh, 6th Battalion, The Jammu and Kashmir Rifles | Army |
- KIRTI CHAKRA (Posthumous)
S NO | Name and Other Details | Service |
1 | Shri Sudip Sarkar, Constable/GD, BSF (Posthumous) | MHA |
2 | (i) Shri Deepak Bhardwaj, Sub Inspector, State Government of Chhattisgarh (Posthumous) (ii) Shri Sodhi Narayan, Head Constable, State Government of Chhattisgarh (Posthumous) (iii) Shri Shrawan Kashyap, Head Constable, State Government of Chhattisgarh (Posthumous) | MHA (Act performed together) |
3 | Shri Rohit Kumar, SG. Constable, J&K Police (Posthumous) | MHA |
Sports News
ICC Player of the Month Award for April 2023
- Men – Pakistan’s Fakhar Zaman
- Women – Thailand’s Naruemol Chaiwai
International Cricket Council (ICC) – 15/06/1909 (Founded) – Dubai,UAE (HQ) – Greg Barclay (Chairman) – 108 countries
Important Days
International Day of Argania
- The International Day of Argania is an annual celebration observed on May 10th to promote awareness of the Argania tree and its ecological and economic significance.
- First observed in 2021.
- Theme – Socio-economic development & sustainability of the Argan ecosystem
Daily Current Affairs - May 11, 2023 - Consolidated
- India, Israel signed agreement on agriculture and water cooperation
- International Jewellery Exposition Centre in Dubai
- India extended $1 billion credit line for Sri Lanka by a year
- Telangana Government introduced a Robotics Framework for providing roadmap to promote robotic ecosystem in State
- Punjab becomes first state to enforce ‘Right to walk’ for pedestrians; footpaths, cycle tracks along new roads mandatory
- Swachh Bharat Mission Gramin
- Uttarakhand cabinet approved CM skill upgradation, employment scheme
- Axis Bank linked RuPay credit cards with UPI
- Sebi levied Rs 35 lakh fine on seven entities for non-genuine trades
- Reserve Bank’s gold reserves rose 4.5% to 794.64 tonnes in 2022-23
- Yes Bank Announced ‘YES KIRAN’ Solar Financing Scheme For MSMEs
- Federal Bank goes live with electronic Bank Guarantee in partnership with NeSL
- Gross monthly inflow through SIP may touch ₹18,000 crores by end-FY24
- Assam government inked MoUs for investments to the tune of Rs. 8201.29 crore
- Union Health Ministry launched a learning management information system named SAKSHAM
- IIT Madras, Defence Research and Development Organisation developed sensor technology for underwater communications
- Parminder Chopra, first woman to lead India’s largest NBFC
- Born too soon: Decade of Action on Preterm Birth
- President Droupadi Murmu conferred 37 Gallantry awards
- ICC Player of the Month Award for April 2023
- International Day of Argania
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