Daily Current Affairs – May 14 & 15, 2023
Daily Current Affairs - Banking - May 14 & 15, 2023
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728 Railway stations are covered with 785 One Station One Product outlets in 21 States and 3 Union Territories across the country
- Ministry of Railways has launched ‘One Station One Product’ (OSOP) scheme over Indian Railways with objectives to promote ‘Vocal for Local’ vision of the Government of India, provide a market for local/indigenous products and create additional income opportunities for the marginalised sections of society.
- Under the scheme, OSOP outlets at railway stations are allotted for showcasing, selling and giving high visibility to indigenous /local products.
- The pilot of the scheme was started on 25.03.2022 and as on 01.05.2023, 728 stations are covered with 785 OSOP outlets in 21 States and 3 Union Territories across the country.
- These OSOP stalls are designed through National Design Institute for uniformity. Cumulative Direct Beneficiaries from March 2022 till 01.05.2023 is 25,109.
- ‘One Station One Product’ are specific to that place and include artefacts made by indigenous tribes, handlooms by local weavers, handicrafts like world famous wood carving, chikankari and zari-zardozi work on clothes, or spices tea, coffee and other processed/semi processed food items/products indigenously grown in the area.
- Product categories, under this scheme, include the following:
- Handicrafts/ Artefacts
- Textiles and Handlooms
- Traditional Garments
- Local agricultural produce (including Millets)/ Processed/semi processed foods.
- Ministry of Railways – Ashwini Vaishnaw,Union Minister (Rajya Sabha MP,Odisha) – Raosaheb Danve,Minister of State (Jalna,Maharashtra) Darshana Jardosh,Minister of State (Surat,Gujarat)
Union Home Minister and Minister of Cooperation Shri Amit Shah will inaugurate a Training Programme on Legislative Drafting in New Delhi.
- Union Home Minister and Minister of Cooperation Shri Amit Shah will inaugurate a Training Programme on Legislative Drafting in New Delhi
- The Programme is being organized by the Institute of Constitutional and Parliamentary Studies (ICPS) in collaboration with Parliamentary Research and Training Institute for Democracies (PRIDE) is aimed at creating an understanding of the principles and practices of legislative drafting among officers of Parliament, State Legislatures and various ministries, statutory bodies and other government departments.
- The Legislative drafting has a major impact on the interpretation of the policies and the regulations implemented for the welfare of the society and the state.
- The training programme will help them in their capacity building.
- Ministry of Home Affairs – Amit Anil Chandra Shah,Union Minister (Gandhinagar,Gujarat) – Nityanand Rai, Minister of State (Ujiyarpur,Bihar), Nisith Pramanik, Minister of State (Cooch Behar, West Bengal), Ajay Kumar Mishra, Minister of State (Kheri,UP)
- The Ministry of Coal is to organize a seminar on the Just Transition Roadmap, in collaboration with Coal India Limited (CIL) under the G20 Presidency of India in Mumbai.
- To be organized at the Jio World Convention Centre, the seminar will be held as side event of the 3rd ETWG meeting of the G20 Presidency of India.
- Ministry of Coal is one of the participating ministries in the ETWG deliberations of the G20.
- The first meeting of ETWG was held in Bengaluru in February, and the second in Gandhinagar, Gujarat in April, 2023.
- The deliberations on energy transition related issues will continue in the 3rd the ETWG meeting in Mumbai.
- The Seminar on Just Transition Roadmap will have two sessions; i.e., inaugural session, which will be followed by panel discussion session.
- Coal Secretary Shri Amrit Lal Meena will chair and moderate the panel discussion and inaugural sessions.
- The World Bank and Central Mine Planning and Design Institute (CMPDI) will also deliver presentations on the Just Transition aspects during the seminar.
- Ministry of Home Affairs will organize “G20 Conference on Crime and Security in the age of Non-Fungible Tokens, NFTs, Artificial Intelligence and Metaverse” on 13th and 14th July this year in Gurugram, Haryana.
- The two days event will be held in partnership with Ministry of Electronics and Information Technology, Ministry of External Affairs, National Security Council Secretariat and the Central Bureau of Investigation.
- Rashtriya Raksha University, National Forensic Science University, National Law School of India University, Interpol and UNODC are the organizing partners.
- A Round Table was organized by the Ministry of Home Affairs in New Delhi to present the details of the proposed G20 Conference.
- It was attended by ambassadors, high commissioners, and senior dignitaries from more than 20 countries apart from senior officers from various ministries and organizations of the government of India and partner organizations.
- Ministry of Coal – Pralhad Venkatesh Joshi,Union Minister (Dharwad,Karnataka)
Nepali sherpa became world’s second person to scale Mount Everest 26 times
- A Nepali sherpa guide climbed Mount Everest for the 26th time.
- Pasang Dawa Sherpa, 46, stood atop the 8,849-m (29,032-ft) peak, sharing the record number of summits with Kami Rita Sherpa.
- Sherpas, who mostly use their first names, are known for their climbing skills and make a living mainly by guiding foreign clients in the mountains.
- Kiani, a 37-year-old banker based in Dubai, had climbed four of the world’s 14 highest mountains before Everest.
- Everest has been climbed more than 11,000 times since it was first scaled by Sir Edmund Hillary and Sherpa Tenzing Norgay in 1953, with about 320 people dying in the effort.
Minister of State Dr L Murugan to lead delegation to Cannes Film Festival
- Union Minister of State for Information and Broadcasting Dr L.Murugan will lead an Indian Delegation to Cannes International Film Festival this year.
- Walking in traditional Tamil attire ‘Veshti’ at the red carpet on Cannes Inaugural day showcasing our rich Indian Culture Dr Murugan will be accompanied by filmmaker Ms Guneet Monga of The Elephant Whisperers fame, Ms Manushi Chillar, Indian actress, model and the winner of the Miss World 2017, Ms Esha Gupta – acclaimed actress of the Indian Cinema & Kangabam Tomba – acclaimed Manipuri Actor, whose restored film ‘Ishanau’, is being screened in Cannes Classic Section this year.
- The India Pavilion is being conceptualised and designed by National Institute of Design, Ahmedabad with the theme – Showcasing India’s Creative Economy’ to the global community.
- The pavilion design has been inspired by the Saraswati Yantra, the abstract representation of goddess Saraswati, keeper of knowledge, music, art, speech, wisdom and learning.
- The colours of the pavilion draw inspiration from the vibrant colours of India’s national flag – saffron, white, and green, and blue.
- Union Minister for Information and Broadcasting Shri Anurag Thakur will address the Inaugural Session through a video message to showcase India as a global hub for content creation at the 76th edition of Cannes’s festival.
- Four Indian films have made it to the official selection in Cannes Film Festival.
- Kanu Behl’s Agra will be his second film to have its world premiere at Cannes, at the Directors’ Fortnight.
- His 2014 debut film, Titli, was unveiled at the ‘Un Certain Regard’ section.
- Anurag Kashyap’s Kennedy is being screened in Midnight Screenings and Nehemich in the La Cinef section of the Festival de Cannes.
- Apart from these, many Indian films are slotted for being screened in Marche du Films.
- A restored Manipuri film ‘Ishanhou’, will be showcased in the ‘Classics’ section.
- The movie was previously played in the festival’s ‘Un Certain Regard’ section in 1991 and its film reels were preserved by the National Film Archive of India.
- The Manipur State Film Development Society got the film restored through the Film Heritage Foundation & Prasad Film Labs.
- Ministry of Information and Broadcasting – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Loganathan Murugan,Minister of State (Rajya Sabha MP,MP)
G7 Health Ministerial Meeting
- Union Minister of Health and Family Welfare, Dr Mansukh Mandaviya addressed the G7 Ministerial meeting on Health Innovation in Nagasaki, Japan.
- The meeting was held to discuss the priorities, implementation and utilization of health innovation like digital health towards ensuring Universal Health Coverage.
- Health Ministers of the G7 countries and invited “Outreach 4” countries of India, Indonesia, Vietnam and Thailand participated in the meeting.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra)
1st Ministerial meeting of India- EU Trade and Technology Council to take place in Brussels
- The first Ministerial meeting of India- European Union Trade and Technology Council (TTC) is taking place in Brussels, Belgium.
- Union Minister for Commerce & Industry, Textiles, Consumer Affairs, Food & Public Distribution, Shri Piyush Goyal is one of the co-chairs along with External Affairs Minister (EAM) and Union Minister of State for Electronics and Information Technology (MeitY).
- The EU side is co-chaired by Executive Vice Presidents Mr. Dombrovskis and Ms. Vestager.
- The formation of the TTC was announced by the Prime Minister, Shri Narendra Modi and H.E. Ms. Ursula von der Leyen, President of the European Commission in New Delhi in April, 2022 with the objective of creating a High-level coordination platform to tackle strategic challenges at the nexus of trade, trusted technology and security.
- Minister Goyal will have a bilateral meeting with EVP Dombrovskis followed by Working Group-3 Stakeholder consultations in the presence of business leaders from both EU and India.
- The WG3 meeting focuses on Trade, Technology and Resilient supply chains and would have 6 business leaders from EU and India.
- In the afternoon, the Minister will attend a business event organised by the Federation of Enterprises in Belgium (FEB) and deliver the keynote address.
- This meeting would involve discussion over the economic footprint of Belgium enterprises in India along with further plans of investments in India.
- Besides, the three Indian Ministers would also call on the Belgian Prime Minister as well as the President of the European Commission.
- Ministry of Commerce and Industry – Piyush Goyal,Cabinet Minister (Rajya Sabha MP,Maharashtra) – Anupriya Patel, Minister of State (Mirzapur,UP), Som Parkash, Minister of State (Hoshiarpur,Punjab)
4-day Millet Festival began in Dehradun
- In Uttarakhand, a four-day millet festival (Shri Ann Mahotsav) began in Dehradun to create public awareness about the health benefits of coarse grain and deliberate on the state’s potential to grow the crop in this category.
- Agriculture Ministers, scientists and farmers of other States including Union Agriculture Minister Narendra Tomar will participate in Ann Mahotsav.
- The four-day deliberations are aimed at attracting more and more people towards millet production, which is to be doubled by 2025.
- The State government has made an arrangement of 73 crore rupees in this financial year for the promotion of millets.
- The aim of the government is that the farmers produce more coarse grains so that their economy can be strengthened.
- On this occasion, 134 stalls will be put up as part of the Mahotsav by the Agriculture department, Agricultural universities and other institutions engaged in Agricultural research.
- Uttarakhand – Dehradun (Winter), Gairsain (Summer) (Capital) – Pushkar Singh Dhami (CM) – Gurmit Singh (Governor) – Hindi (Language)
5th edition of Global Ayurveda Festival to be held in Thiruvananthapuram in December 1st week
- The 5th edition of the Global Ayurveda Festival (GAF-2023) will be held in Kerala’s Thiruvananthapuram district from December 1 to 5.
- The festival will focus on projecting Ayurveda’s huge potential in addressing the health challenges of the present world and setting a platform for global networking of Ayurveda practitioners and stakeholders.
- Minister of State for External Affairs and Parliamentary Affairs V Muraleedharan, who is the Chairman of the Organising Committee, said that the focal theme of the GAF 2023 is “Emerging Challenges in Healthcare & A Resurgent Ayurveda.”
- Kerala Chief Minister Pinarayi Vijayan is the Chief Patron of the Organising Committee, which has 200-plus members from all segments of Ayurveda.
- The biennial event is being organized by the Centre for Innovation in Science and Social Action (CISSA) in association with the Ministry of Ayush, Government of India, Department of Ayush, Government of Kerala, Ayurveda fraternity represented by AMAI, AMMOI, AHMA, KISMA, ADMA, Viswa Ayurveda Parishad and 14 other Ayurveda Associations at the Greenfield International Stadium, Karyavattom.
- The conclave will witness the convergence of many top scientists, including Nobel Laureates, and 7,500 delegates from 75 countries.
- Over 750 research papers will be presented at various sessions of the meet, besides 750 poster presentations on the sidelines.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
CM Stalin launched QR code for people to check status of infrastructure projects in TN
- Chief Minister MK Stalin launched a QR code system to monitor infrastructure projects and ensure efficient service delivery across local bodies in Tamil Nadu.
- The municipal administration and water supplies department initiated the smart governance system, which will bridge the gap between local bodies’ administration and the public.
- The QR code system has been established in public places such as parks, bus stands, crematoriums, markets, playgrounds, urban health centres and public toilets, allowing people to access the information, offering them an opportunity to provide feedback about infrastructure projects and services in urban areas such as corporation, municipality and town panchayats.
- Residents can also check pending tax details, including property tax, register births and deaths, through the code and track the status of their registered complaints about services.
- All complaints and requests from the general public will be forwarded to the respective officials and addressed at the earliest.
- This system aims at ensuring transparency and accountability in governance and improve service delivery in urban areas.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Banking and Finance
RBI imposes monetary penalty on two urban cooperative banks in Gujarat
- The Reserve Bank of India (RBI) imposed a monetary penalty of Rs 2.92 crore on Canara Bank for violation of various norms.
- The RBI said it conducted scrutiny of Canara Bank in July 2020 and it revealed that the bank had failed to link interest on floating rate retail loans and loans MSMEs to an external benchmark, failed to link interest on floating rate rupee loans sanctioned and renewed during FY21 to its MCLR and opened several savings deposit accounts in the name of ineligible entities.
- The lender also registered dummy mobile numbers in several credit card accounts, failed to pay any interest on deposits accepted under the daily deposit scheme and prematurely withdrawn within 24 months of opening of the accounts, recovered SMS alert charges from customers not on actual usage basis and failed to undertake customer due diligence and put into use robust software for generating alerts when transactions were inconsistent with customer profile.
- Canara Bank – 01/07/1906 (Founded) – Bangalore (HQ) – K Satyanarayana Raju (MD & CEO) – “Together We Can”
Banks to launch 100 days campaign to trace & settle unclaimed deposits
- The Reserve Bank of India said a special 100 days campaign will be launched under which banks trace and settle their top 100 deposits in every district of the country.
- The banks will commence the campaign from June 1, 2023.
- Balances in savings/current accounts which are not operated for 10 years, or term deposits not claimed within 10 years from date of maturity are classified as “unclaimed deposits”.
- These amounts are transferred by banks to “Depositor Education and Awareness” (DEA) Fund maintained by the Reserve Bank of India.
- This measure, it added, will complement the ongoing efforts and initiatives by the Reserve Bank to reduce the quantum of unclaimed deposits in the banking system and return such deposits to their rightful owners/claimants.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Business and Economy
India's exports of agricultural & allied products cross Rs. 4 lakh crore mark
- Agriculture and Farmers Welfare Minister Narendra Singh Tomar said that India’s exports of agricultural and allied products have crossed four lakh crore rupees.
- He said, over the years, India has performed well in the agriculture sector and also contributed to global food security with food grain production.
- Mr. Tomar said this while chairing the 8th meeting of Agriculture Ministers of Shanghai Cooperation Organization (SCO) member countries through video conferencing.
- Russia, Uzbekistan, Kazakhstan, Kyrgyzstan, Tajikistan, China and Pakistan also participated in the meeting.
- Under the chairmanship of India, SCO member countries adopted the Smart Agriculture project.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
Retail inflation drops 18-month low of 4.70 % in April
- Retail inflation, based on the Consumer Price Index (CPI), eased to 4.70 percent in April 2023.
- As per the Ministry of Statistics and Programme Implementation data released today, inflation dropped to an 18-month low in April.
- Consumer Food Price Index (CFPI) fell to 3.84 percent, as compared to 4.79 percent in the previous month and 8.31 percent in April 2022.
- The Rural inflation in April stood at 4.68 percent, while urban inflation was at 4.85 percent.
- Retail inflation stood at 7.79 percent in April previous year.
- The Government had mandated the Central Bank to maintain retail inflation at four percent with a margin of two percent on either side.
- The Consumer Price Index (CPI)-based inflation stood at 4.70 per cent in April, as against 5.66 per cent the previous month.
India's 1st Women Mine Rescue Team Trains at Hindustan Zinc
- Hindustan Zinc trains India’s 1st ever all women mining rescue team to ensure utmost safety maintenance in mining operations.
- This initiative is one-of-its-kind, aligning with the company’s Sustainability Development Goals aimed at ensuring Zero Harm in operations.
- The rescue team comprising of seven women officers were given base training at the company’s RRRT centre at Rajpura Dariba Complex and were then sent for rigorous training at Mine Rescue Station, Nagpur.
- After selection, the rescue team underwent 14 days of specialized training at Mine Rescue Station, Nagpur.
IMA appoints Sunil Deshmukh as Chair-Elect for FY24
- The Institute of Management Accountants (IMA) has announced the appointment of Sunil Deshmukh, CMA, as Chair-Elect, Global Board of Directors.
- The appointment has been made for IMA’s 2024 fiscal period from July 1, 2023 to June 30, 2024.
- Deshmukh is a leadership and executive coach and strategy consultant with more than 30 years of experience working in consumer markets across Africa, Asia, the Middle East, and Southeast Asia.
Ranks and Indices
Data Governance Quality Index
- The Ministry of Ports, Shipping and Waterways (MoPSW) has secured the second position among 66 ministries in the highly influential Data Governance Quality Index (DGQI) assessment for 2022-2023 (Q3).
- The Ministry has achieved a score of 4.7 out of 5, further highlighting the Ministry’s commitment to excellence in data governance.
- Conducted by the Development Monitoring and Evaluation Office (DMEO), NITI Aayog, the DGQI survey aims to measure the maturity level of administrative data systems and their use in the decision-making of various Ministries and Departments on the implementation of Central Sector Schemes (CS) and Centrally Sponsored Schemes (CSS).
- It also identifies reforms to reach the frontier of seamless data exchange and its synergistic use within the ministry, while defining clear pathways to achieve these goals.
- The DGQI assessment encompasses six pivotal themes, including Data Generation, Data Quality, Use of Technology, Data Analysis, Use and Dissemination, Data Security and HR Capacity, and Case Studies.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
SBI Research’s ‘Ecowrap’ report
- The Reserve Bank of India (RBI) will likely move for one more pause in the upcoming June Monetary Policy Committee (MPC) meeting, as India’s consumer price inflation (CPI) moderated to almost 18-month low of 4.70% in April, due to a sharp deceleration in fuel inflation, SBI Research’s ‘Ecowrap’ report said.
- SBI Research constructed four scenarios of repo rates by training the data of RBI rate deciding manner for the period of February 2022 to November 2022.
- In the fourth and most important scenario, wherein if MPC considers domestic CPI headline inflation, CPI core inflation and US Fed rate hikes, while taking a call on repo rate, the current repo rate would have been at 6.22%, the report said.
V. Prraneeth became India’s 82nd Grandmaster
- V.Prraneeth became Telangana’s sixth and India’s 82nd Grandmaster when he outwitted GM Hans Niemann of US in the penultimate round of Baku Open 2023.
World Migratory Bird Day
- World Migratory Bird Day is a bi-annual global event aims to raise awareness about the importance of migratory birds and their conservation.
- The event is celebrated around the world and typically takes place on the second Saturday in May and in October each year.
- This year, the day will be marked on May 13.
- The Secretariat of the Agreement on the Conservation of African-Eurasian Migratory Waterbirds (AEWA) and the Secretariat of the Convention on the Conservation of Migratory Species of Wild Animals (CMS) started it in 2006.
- The first WMBD was launched on the weekend of April 8-9, 2006 in Kenya.
- Theme – Water and its importance for Migratory Bird.
Indian Navy test-fired BrahMos supersonic cruise missile
- A BrahMos supersonic cruise missile was successfully test-fired from the Indian Navy’s frontline guided missile destroyer INS Mormugao.
- The ship and her potent weapon, both indigenous, mark another shining symbol of ‘AatmaNirbharta’ and Indian Navy’s firepower at sea.
- BrahMos Aerospace Pvt Ltd, an India-Russian joint venture, produces the supersonic cruise missiles that can be launched from submarines, ships, aircraft, or land platforms.
- BrahMos missile flies at a speed of 2.8 Mach or almost three times the speed of sound.
- India is also exporting the BrahMos missiles.
- In January last year, India sealed a $375 million deal with the Philippines for supplying three batteries of the missile.
- 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 14 & 15, 2023 - Consolidated
- 728 Railway stations are covered with 785 One Station One Product outlets in 21 States and 3 Union Territories across the country
- Union Home Minister and Minister of Cooperation Shri Amit Shah will inaugurate a Training Programme on Legislative Drafting in New Delhi.
- G20 Session
- Nepali sherpa became world’s second person to scale Mount Everest 26 times
- Minister of State Dr L Murugan to lead delegation to Cannes Film Festival
- G7 Health Ministerial Meeting
- 1st Ministerial meeting of India- EU Trade and Technology Council to take place in Brussels
- 4-day Millet Festival began in Dehradun
- 5th edition of Global Ayurveda Festival to be held in Thiruvananthapuram in December 1st week
- CM Stalin launched QR code for people to check status of infrastructure projects in TN
- RBI slapped Rs 2.92-cr penalty on Canara Bank for violating norms
- Banks to launch 100 days campaign to trace & settle unclaimed deposits
- India’s exports of agricultural & allied products cross Rs. 4 lakh crore mark
- Retail inflation drops 18-month low of 4.70 % in April
- India’s 1st Women Mine Rescue Team Trains at Hindustan Zinc
- IMA appoints Sunil Deshmukh as Chair-Elect for FY24
- Data Governance Quality Index
- SBI Research’s ‘Ecowrap’ report
- Prraneeth became India’s 82nd Grandmaster
- World Migratory Bird Day
- Indian Navy test-fired BrahMos supersonic cruise missile
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