Daily Current Affairs – May 26, 2023
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Daily Current Affairs - Banking - May 26, 2023
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National News
Centre to launch Rs 75 coin to mark the opening of new Parliament building
- The Centre will launch a special commemorative Rs 75 coin to mark the opening of the new Parliament building, the ministry of finance.
- In India, the responsibility of designing and minting coins vests with the Centre under the Coinage Act, 1906.
- The Reserve Bank of India (RBI) is responsible for circulating these coins.
- “These rules may be called the coinage (Issue of commemorative coin on the occasion of inauguration of new Parliament building) rules, 2023.
- Rs 75 coin will be circular in shape with a diameter of 44 millimetres and have 200 serrations.
- The coin will be composed of a quaternary alloy with 50 per cent silver, 40 per cent copper, 5 per cent nickel, and 5 per cent zinc.
- 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)
International News
Tamil Nadu Chief Minister visit to Japan
- Guidance Tamil Nadu and Japan-headquartered Daicel Safety Systems exchanged a Memorandum of Understanding (MoU) for the expansion of Daicel’s automobile airbag inflator plant in Thiruporur in Chengalpattu district, in Osaka in the presence of Tamil Nadu Chief Minister M K Stalin.
- The chief minister who met Ken Bando, head of business operations of Daicel Safety Systems, invited the latter to participate in the global investors meet in Chennai in January 2024.
- Japan – Tokyo (Capital) – Japanese yen (Currency) – Naruhito (Emperor) – Fumio Kishida (Prime Minister) – Japanese (Language)
State News
Kerala became India’s 1st e-governed state
- In a major initiative that would prevent corruption and ensure speedy delivery of public services, the state has declared total governance.
- e- Sevanam, a single window portal launched by the government, will offer 900 government services online, said Chief Minister Pinarayi Vijayan.
- About 7.5 crore certificates were distributed through the e-district online service.
- The e-office system was established in secretariats, collectorates, RTO offices and commissionerates for speedy file movement.
- Steps are being taken to expand it to the taluk level.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
Shri Amit Shah laid the foundation stone of Guwahati campus of National Forensic Science University (NFSU) in Assam
- Union Home Minister and Minister of Cooperation, Shri Amit Shah laid the foundation stone of Guwahati campus of National Forensic Science University (NFSU) in Assam.
- Along with this, Shri Amit Shah also launched the web portal ‘Assam Police Seva Setu’ to make the services of the Assam Police more accessible and transparent for the people.
- A book written by Dr. J.M Vyas on the use of forensic science in judiciary was also released.
- Shri Shah said that the only specialized forensic science university of the world is located in India.
- The National Forensic Science University, started from Gujarat, is the only NFSU in the world to prepare exclusive courses in the field of forensic science and convert all dimensions of forensic science into courses.
- Assam– Dispur (Capital) – Himanta Biswa Sarma (CM) – Gulab Chand Kataria (Governor) – Assamese & Boro (Language)
Shirdi-Bharvir phase 2 of Samruddhi Expressway inaugurated by Maharasthta CM
- Maharashtra Chief Minister Eknath Shinde inaugurated the second phase of the Samruddhi Corridor between Shirdi and Bharvir in Nashik district, in the process throwing open for public 600 kilometres of the 701-km route between Mumbai and Nagpur.
- The 80-km stretch under phase 2 will increase connectivity from Vidarbha to different parts of Nashik, Ahmednagar and Pune through an interchange in Gonde in Sinnar, and also ease the commute to Shirdi, a renowned religious tourism destination, from Mumbai, Thane and Nashik.
- Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)
Banking and Finance
ADB signed $141.12 mn loan with India for industrial corridor development in Andhra Pradesh
- The Asian Development Bank (ADB) and the Government of India signed a $141.12 million loan agreement.
- The loan aims to support the development of essential infrastructure, such as roads, water supply systems, and electricity distribution networks, in three industrial clusters located in Andhra Pradesh.
- This financing is part of a larger $500 million multi-tranche financing facility (MFF) approved by ADB in 2016 to enhance infrastructure in the Visakhapatnam and Srikalahasthi-Chittoor nodes.
- ADB also approved a $250 million loan, as part of the MFF, to support the government’s National Industrial Corridor Development Program (NICDP) in October 2021.
- This financing by the bank aims to strengthen industrial infrastructure in the Visakhapatnam node by developing internal infrastructure in the Rambilli and Nakkapalli industrial clusters, improving the Atchuthapuram–Anakapalli road, and enhancing access roads to the Nakkapalli cluster.
- The proposed clusters’ internal infrastructure will include roads, stormwater drains, water supply systems, and electricity distribution systems.
- In the Srikalahasthi-Chittoor node, the project will focus on developing the start-up area of the Chittoor-South industrial cluster, as well as improving access roads to the Chittoor-South and Naidupeta industrial clusters.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 68 countries
Bank of Maharashtra topped PSU lenders chart in profit and loan growth in FY23
- State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23.
- The Pune-headquartered lender also recorded highest growth in profitability with bottomline growing almost 126 per cent to ₹2,602 crores during the year.
- However, all the 12 public sector banks together recorded 57 per cent jump in net profit at ₹1,04,649 crores in FY23, according to published yearly numbers of public sector banks (PSBs).
- In terms of percentage increase in gross advances, BoM recorded 29.4 per cent jump in loans at ₹1,75,120 crores as of March 2023.
- It was followed by Indian Overseas Bank and UCO Bank with 21.2 per cent and 20.6 per cent growth, respectively.
- However, in absolute terms, aggregate loans of the country’s biggest lender SBI were nearly 16 times higher at ₹27,76,802 crores.
- With regard to deposit growth, BoM witnessed 15.7 per cent rise and mobilised ₹2,34,083 crores at the end of March 2023.
- Bank of Baroda was second with 13 per cent growth in deposits (₹10,47,375 crore) while Punjab National Bank recorded 11.26 per cent increase at ₹12,51,708 crores, according to the data.
- BoM retained the top position in terms of garnering low-cost Current Account and Savings Account (CASA) deposits with 53.38 per cent followed by Central Bank of India (50.18 per cent).
- Total business growth of BoM was also the highest at 21.2 per cent at ₹4,09,202 crores followed by Bank of Baroda at 14.3 per cent (₹18,42,935 crore) at the end of FY23.
- In terms of Retail-Agriculture-MSME (RAM) loans, BoM registered the highest growth of 24.06 per cent followed by Punjab National Bank at 20.85 per cent and Punjab & Sind Bank at 20.70 per cent on an annual basis.
- Bank of Maharashtra (BoM) – 16/09/1935 (Founded) – Pune, Maharashtra (HQ) – A. S. Rajeev (MD & CEO) – “One Family One Bank” (Tagline)
CBDT increased tax exemption limit on leave encashment for non-govt salaried employees to Rs 25 lakh
- The Central Board of Direct Taxes has issued a notification to increase the limit for tax exemption on leave encashment for non-government salaried employees to 25 lakh rupees.
- The tax exemption on leave encashment of non-government salaried employees was earlier up to a limit of three lakh rupees under the Income-tax Act.
Agreements and MoUs signed
Indian Steel Association signed MoU with AISC to unlock new avenues in sector
- Industry body, Indian Steel Association (ISA), and the ASEAN Iron and Steel Council (AISC) have signed a memorandum of understanding (MoU) for bilateral cooperation between Indian and ASEAN steel industry.
- The MoU was signed in Manila, Philippines.
- The MoU aims to leverage the strengths, expertise, and resources of both organizations to unlock new avenues for growth, innovation, and sustainability in the steel industry.
- The delegation from India was led by Dilip Oommen, president ISA and CEO AMNS India, and was attended by the Secretary-Generals of ISA and SEAISI and other senior officials of ISA, South East Asia Iron and Steel Institute (SEAISI) and AISC.
- The MoU was signed by Dilip Oommen and Purwono Widodo, President of ASEAN Iron and Steel Council and President Director of PT Krakatau Steel.
Summit and Conference
International conference on India pharma, India medical device
- Union Chemicals and Fertilisers Minister Mansukh Mandviya inaugurated 8th edition of the international conference on the pharma and medical device sector in New Delhi organized by the Department of Pharmaceuticals in association with Federation of Indian Chambers of Commerce and Industry (FICCI).
- The annual flagship conference conducted over two days – 26th May 2023 dedicated for India Medical Device sector on the theme “Sustainable MedTech 5.0: Scaling and Innovating Indian MedTech,” and 27th May 2023 dedicated for the Pharmaceutical sector on the theme “Indian pharma industry: Delivering Value through Innovation.”
- Ministry of Chemicals and Fertilizers – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Bhagawanth Khuba,Minister of State (Bidar,Karnataka)
Science and Technology
Flipkart veteran launched Flash.Co, a spam-free shopping app
- Former Flipkart SVP Ranjith Boyanapalli has launched Flash.co, a one-stop shopping experience with a unique email ID, to ditch the spammers.
- The app’s ‘Handpicked’ tab allows customers to track all account or order related details.
- They can also view information like items ordered, amount, address details, tracking number, number of orders placed, and amount spent in a given time span.
- Flash.Co, which has partnered with more than 40 brands, also has a tab to cover promotional mail.
- Flipkart – 2007 (Founded) – Bangalore (HQ) – Kalyan Krishnamurthi (CEO)
Odisha to launch new portal for MSMEs to apply for financial incentives online
- The Odisha government’s MSME Department is launching an online portal AIM 2.0 for faster and transparent administration of incentives under various industrial promotion policies for MSME units in the state.
- The portal will be operational from June 1, 2023, and accessible through odishamsme.nic.in web portal.
- Industrial units will have to make application for financial incentives under IPR-2007, IPR-2015, IPR-2022, Odisha MSMED Policy-2009, Odisha MSMED Policy-2016, Odisha MSMED Policy-2022, Odisha Food Processing Policy-2016 and Odisha Food Processing Policy 2022 mandatorily in online mode in the AIM 2.0 portal.
- Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)
Power
Adani Green Energy arm commissioned 130 MW wind power plant in Kutch
- Adani Green Energy Ltd subsidiary, Adani Wind Energy Kutchh Five Ltd (AWEK5L), formerly known as Adani Green Energy Five Ltd, has commissioned a 130 Megawatt (MW) wind power facility at Kutch in Gujarat.
- The plant has a 25-year Power Purchase Agreement (PPA) of 130 MW with Solar Energy Corporation of India (SECI) at Rs 2.83 per kWh.
- With the successful commissioning of this plant, AGEL’s operational wind generation capacity has increased to 1,101 MW and its total operational renewable generation capacity has increased to 8,216 MW.
- This places AGEL’s renewable portfolio on track to reach its vision of 45 GW capacity by 2030.
- The newly-commissioned plant will be managed by Adani Group’s intelligent ‘Energy Network Operation Centre’ (ENOC) platform, which has aided AGEL in achieving superior operational performance of its entire renewables portfolio spread across India.
- Adani Green Energy Limited (AGEL) – 2015 (Founded) – Ahmedabad (HQ) – Vneet S Jain (MD & CEO)
Appointments
R Dinesh elected as CII president
- R Dinesh, executive vice chairman of TVS Supply Chain Solutions, has been elected president of the Confederation of Indian Industry (CII) for 2023-24 by replacing Sanjiv Bajaj, chairman and managing director of Bajaj Finserv.
- Sanjiv Puri has taken over as president-designate of CII for 2023-24.
- He is the chairman and managing director of ITC, one of India’s biggest conglomerates with business spanning FMCG, hotels, paperboards and packaging, agri-business and information technology.
- Rajiv Memani is CII’s new vice president of CII for 2023-24.
- He is chairman, India region, for EY (Ernst & Young), a global professional services organization.
- He is a member of EY’s global management body, chairing its global emerging markets committee.
- Confederation of Indian Industry (CII) – 1895 (Founded) – New Delhi (HQ) – R Dinesh (President)
Praveen Sood appointed as new CBI Director
- Senior IPS officer Praveen Sood took over as Director of Central Bureau of Investigation (CBI) replacing Subodh Kumar Jaiswal who retired from service.
- Sood was Director General of Police, Karnataka, before assuming charge of one of the most august office for police officers.
- He is the fourth IPS officer, after Jaiswal, Rishi Kumar Shukla and Alok Kumar Verma, who have become CBI directors without any experience in the premier investigation agency.
- He will get two years in office as CBI Director which can be extended by another three years, as per the recent amendment to recruitment rules by the central government.
Greece Prime Minister
- Senior judge Ioannis Sarmas was sworn as Greece’s caretaker Prime Minister who will head the country until new national elections are held.
- Sarmas, 66, took over from center-right Prime Minister Kyriakos Mitsotakis, who won a landslide victory in parliamentary elections but was unable to form a government.
- Greece – Athens (Capital) – Greek (Language) – Katerina Sakellaropoulou (President) – Ioannis Sarmas (Prime Minister)
Ranks and Indices
Institutional Ranking Framework (IIRF) University Ranking – 2023
Rank
University
State
1
Jawaharlal Nehru University (New Delhi)
New Delhi
2
Banaras Hindu University (Varanasi)
Uttar Pradesh
3
Aligarh Muslim University (Aligarh )
Uttar Pradesh
4
Jamia Millia Islamia (Jamia Nagar)
New Delhi
5
University of Hyderabad (Hyderabad)
Telangana
India's AI supercomputer 'AIRAWAT' ranked 75th in Global Supercomputing list
- 61st edition of the International Supercomputing Conference (ISC 2023) held in Germany.
- Country’s AI supercomputer ‘AIRAWAT’ has secured the 75th position in the prestigious Top 500 Global Supercomputing List.
- The installation of ‘AIRAWAT’ at C-DAC Pune is part of the National Program on AI initiated by the Government of India.
- Supercomputers aggregate the computational power of multiple servers or compute devices for processing huge amounts of data and performing complex calculations.
Sports News
3rd edition of Khelo India University Games
- The Prime Minister, Shri Narendra Modi declared open 3rd edition of Khelo India University Games 2023 via video conferencing.
- The games will witness the participation of over 4750 athletes from more than 200 Universities competing in 21 sports categories.
- The mascot of the Games is named Jitu, which represents Swamp Deer (Barasingha) the state animal of Uttar Pradesh.
- These competitions will be organised in Varanasi, Gorakhpur, Lucknow and Gautam Buddha Nagar.
- Prime Minister Narendra Modi, inaugurated the first edition of the Khelo India University Games in Cuttack, Odisha.
- The sport events were held at Kalinga Institute of Industrial Technology (KIIT) in Bhubaneswar, JNL Indoor Stadium, SAI-Odisha Badminton Academy and SAI International Residential School in Cuttack.
- First edition includes 211 events in 17 sports.
- Then Vice President Venkaiah Naidu declared the second Khelo India University Games 2021 open at the Sree Kanteerava Indoor Stadium, Bengaluru.
- The Sports events were held at Jain Global University Campus, Jain Sports School, Kanteerava stadium, field marshal cariappa hockey stadium and Sports Authority of India National Centre of Excellence.
Defence
SPG to be headed by ADG rank officer
- The Ministry of Home Affairs (MHA) notified fresh rules for the elite Special Protection Group (SPG) that as of date only protects the Prime Minister.
- The rules empower the Central government to frame standard operating procedures (SOP) to be followed by State governments or Central government departments, Army, diplomatic missions, and local or any civic authority to aid the SPG in performing its duties.
- The Director, of SPG shall be appointed by the Central Government “at a level of not less than the Additional Director General of Police [ADG] from the Indian Police Service”.
- Earlier, the SPG has been headed by an Inspector General of Police (IGP) rank officer and on occasion by an ADG rank officer, but no specific rules were notified yet.
- Other members of the SPG, except the All India Services officers, shall be appointed on deputation for an initial period of six years.
- The appointment for the second tenure may be done with the prior approval of the Central government for reasons to be recorded.
- The general superintendence, direction, command and control, supervision, training, discipline, and administration of the SPG will be vested in the Director.
- 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)
Second edition of India-Saudi Joint Naval Exercise Al Mohed Al Hindi 23
- The second edition of India-Saudi Joint Naval Exercise Al Mohed Al Hindi 23 concluded.
- In the five-day exercise, Indian Naval Aircraft Dornier and Saudi Air component participated.
- INS Tarkash and INS Subhadra and IN Dornier, Maritime Patrol Aircraft arrived at Al Jubail, Saudi Arabia.
- The first edition took place in August 2021.
- The decision on the Bilateral exercise was taken during the Riyadh Summit held in 2019.
- The exercise aims to carry out tactical manoeuvres, search and rescue operations, and an electronic warfare drill to enhance interoperability.
Daily Current Affairs - May 26, 2023 - Consolidated
- Centre to launch Rs 75 coin to mark the opening of new Parliament building
- Tamil Nadu Chief Minister visit to Japan
- Kerala became India’s 1st e-governed state
- Shri Amit Shah laid the foundation stone of Guwahati campus of National Forensic Science University (NFSU) in Assam
- Shirdi-Bharvir phase 2 of Samruddhi Expressway inaugurated by Maharasthta CM
- ADB signed $141.12 mn loan with India for industrial corridor development in Andhra Pradesh
- Bank of Maharashtra topped PSU lenders chart in profit and loan growth in FY23
- CBDT increased tax exemption limit on leave encashment for non-govt salaried employees to Rs 25 lakh
- Indian Steel Association signed MoU with AISC to unlock new avenues in sector
- International conference on India pharma, India medical device
- Flipkart veteran launched Flash.Co, a spam-free shopping app
- Odisha to launch new portal for MSMEs to apply for financial incentives online
- Adani Green Energy arm commissioned 130 MW wind power plant in Kutch
- R Dinesh elected as CII president
- Praveen Sood appointed as new CBI Director
- Greece Prime Minister
- Institutional Ranking Framework (IIRF) University Ranking – 2023
- India’s AI supercomputer ‘AIRAWAT’ ranked 75th in Global Supercomputing list
- 3rd edition of Khelo India University Games
- SPG to be headed by ADG rank officer
- Second edition of India-Saudi Joint Naval Exercise Al Mohed Al Hindi 23
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