National & International News :
1. MoHUA launched its Mega Campaign ‘Meri LiFE, Mera Swachh Shehar’ to promote RRR
The Ministry of Housing and Urban Affairs (MoHUA) introduced a significant campaign called "Meri LiFE, Mera Swachh Shehar" on May 15, 2023. This program aims to promote the principles of waste management known as the 3Rs: Reduce, Reuse, and Recycle.
In urban areas of India, citizens are actively engaging in refurbishing used items to encourage reuse, thereby embracing the concept of generating "wealth" from waste. This positive trend is greatly contributing to the overall zero-waste ecosystem of the Swachh Bharat Mission-Urban 2.0 (SBM-U).
- To kickstart the Meri LiFE, Mera Swachh Shehar campaign, a Pledge for LiFE will be undertaken by everyone on June 5, 2023, in commemoration of World Environment Day. Additionally, large-scale cleanliness operations will be carried out across all cities.
- The 3Rs, which serve as the foundation of the "Waste to Wealth" concept, have empowered numerous entrepreneurs, startups, self-help groups (SHGs), craftsmen, and recyclers to transform waste into various products. Furthermore, the Mission LiFE (Lifestyle for Environment) initiative, spearheaded by Prime Minister Narendra Modi, promotes individual and collective action towards the same cause.
- Mission LiFE strives to safeguard and preserve the environment while instilling a pro-planet behavioral change through individual actions in daily life.
- As part of the nationwide campaign, cities are encouraged to establish "Reduce, Reuse, Recycle (RRR) Centres." These centers will serve as one-stop collection points where citizens can contribute items such as clothing, shoes, books, toys, and used plastic for reuse or recycling.
- The three-week campaign aligns with the objectives of Mission LiFE, urging collective action for environmental protection and conservation by adopting sustainable daily habits. It also strengthens citizens' commitment under SBM-U 2.0 to reduce, reuse, and recycle.
- Scheduled for nationwide launch on May 20, 2023, RRR Centres will provide convenient solutions for citizens, institutions, and commercial enterprises to deposit unused or used plastic products, clothing, footwear, books, and toys. After collection, these items will be handed over to various stakeholders for refurbishment, reuse, or the production of new goods. This effectively advances the government's vision of establishing a circular economy.
2. Ladakh’s Annual Great Prayer Festival ‘ Ladakh Monlam Chenmo 2023 ’ held from 11th May 11 to 16th May - 2023
From May 11 to 16, 2023, Ladakh's annual five-day group prayer camp of Buddhist monks and nuns, known as 'Ladakh Monlam Chenmo 2023' or the Great Prayer Festival, took place in Leh (Ladakh) with the objective of promoting world peace and happiness.
Key Points :
(i) The annual Mass Prayer was resumed after a three-year hiatus due to the COVID-19 pandemic.
(ii) The Monlam Chenmo 2023 mass prayer camp event was organized by the All Ladakh Gonpa Association.
(iii) This festival, held since 1991, occurs on the 21st to 25th days of the third month of the Tibetan lunar calendar.
(iv) During the festival, Buddhist monks perform traditional Tibetan Buddhist dance known as "Cham."
Seva for Sangha Special Camp :
(i) Concurrently with the main event, Member of Parliament (MP) for Ladakh Constituency, Jamyang Tsering Namgyal, led a special camp called 'Seva for Sangha' for the Sangha Community from May 11 to 16, 2023, in collaboration with the district administration of Leh.
This camp is being organized for the first time to provide the Sangha Community with access to various government schemes.
(ii) Different government departments, including banks, also offered the benefits of approximately 20 government schemes to the monks and nuns.
(iii) The Indo-Tibetan Border Police (ITBP) has partnered with the organizers to establish medical camps during the five-day-long 'Seva for Sangha' camp.
3. Sony Sports Network ropes in Sania Mirza as its Ambassador
Leading sports broadcaster Sony Sports Network (also known as Sony TEN), owned and operated by Sony Pictures Networks (SPN), has roped in Sania Mirza, an Indian former professional tennis player, as a Tennis ambassador for the broadcaster, who will be seen as an expert panellist on the network.
- Starting with 2023 Roland Garros, Sania Mirza will be a part of the panel on Sony Sports Network’s studio show, Extraaa Serve.
- Sony Sports Network has launched a special campaign called The Home of Tennis, which showcases Sania Mirza, Sony Sports Network, and the 3 Grand Slams as a perfect match and celebrated the journey of Sania Mirza.
- She is the recipient of the Arjuna Award (2004), Padma Shri (2006), Major Dhyan Chand Khel Ratna Award (2015) and Padma Bhushan (2016).
4. JSW Steel & JFE Steel form JV to Manufacture CRGO Products in India
Mumbai(Maharashtra) based JSW Steel Limited, a flagship company of JSW Group, and Japan’s JFE Steel Corporation, the 2nd largest Japanese steel manufacturer, will form a joint venture (JV) company (50:50) to manufacture the entire range of CRGO (Cold Rolled Grain Oriented) products at its proposed facilities at Vijayanagara, Karnataka.
- The JV company will be the 1st to produce CRGO products with its entire chain of manufacturing processes in India.
- The JV will contribute to the rapidly growing Indian demand, with its “Made in India” CRGO products based on JFE Steel’s energy efficient production technology developed through extensive research and development (R&D).
5. Georgi Gospodinov & Angela Rodel won International Booker Prize 2023 for ‘ Time Shelter ’
Georgi Gospodinov, a Bulgarian writer, and translator Angela Rodel have been awarded the prestigious International Booker Prize 2023 for their dark comic novel titled "Time Shelter." This remarkable achievement marks the first time a book originally written in Bulgarian and translated into English has won the International Booker Prize.
Here are some key details about the award and the winning novel :
- The International Booker Prize carries a cash prize of £50,000, which is equally divided between the author and the translator. - Additionally, the shortlisted authors and translators each receive £2,500.
- The winners were announced on May 23, 2023, by Leïla Slimani, a French-Moroccan novelist and chair of the 2023 judge panel, at a special event held at London's Sky Garden in the United Kingdom (UK).
- " Time Shelter " represents Georgi Gospodinov's third novel to be published in English. The book was published by Weidenfeld & Nicolson, a renowned British publisher based in the UK.
- This recognition highlights the exceptional storytelling and literary talent of Georgi Gospodinov and the exceptional translation work of Angela Rodel. "Time Shelter" stands out as a significant contribution to the literary world, captivating readers with its dark humor.
Banking & Finanace News :
1. RBI Board approved Transfer of Rs 87,416 Crore as Surplus to Government
During the 602nd meeting of the Reserve Bank of India's (RBI) Central Board of Directors, held on May 19, 2023, several key decisions were made. Chaired by RBI Governor Shaktikanta Das, the board approved the transfer of Rs 87,416 crore as surplus to the Government for the year 2022-2023. Additionally, the contingency risk buffer was raised from 5.5% to 6%.
Here are some important points related to the meeting :
- In the previous financial year (FY) 2021-2022, the RBI had transferred Rs 30,307 crore to the government.
- The board, under the leadership of Shaktikanta Das, approved the RBI's annual report and financial statements for the accounting year 2022-2023.
- Discussions were held regarding the RBI's performance during the period of April 2022 to March 2023.
2. RBI cancels Certificate of Registration of 7 NBFCS
The Reserve Bank of India (RBI) in the exercise of powers conferred on it under Section 45-IA (6) of the RBI Act, 1934 has cancelled the Certificate of Registration (CoR) of seven Non-Banking Finance Companies (NBFC).
- With this, the notified companies are barred from transacting the business of a Non-Banking Financial Institution (NBFI), as defined in clause (a) of Section 45-I of the RBI Act, 1934.
The 7 NBFC are as follows :
3. Tide and Transcorp launch India’s-first Recycled PVC RuPay Card
In collaboration with Transcorp International Limited, MCT Cards & Technology Pvt. Ltd., and NPCI (National Payments Corporation of India), Tide, a UK-based fintech company, has introduced India's first recycled Polyvinyl Chloride (rPVC) Rupay card.
Here are some additional details about the initiative :
- PVC cards are known for their durability and enhanced security features compared to paper-based cards, as they are less prone to damage or tearing.
- The rPVC Rupay cards are manufactured using recycled PVC plastic. Each 99% rPVC card, weighing between 5.5-6 grams, helps save approximately 7-8 grams of CO2 emissions and 3.5-4.0 grams of plastic waste. This waste can then be used to produce new cards made with virgin PVC.
- Tide, a prominent financial platform in the UK, primarily focused on small and medium-sized enterprises (SMEs). In March 2023, Tide achieved a significant milestone by becoming the world's first fintech company to eliminate 100% of its emissions through durable carbon removals, starting from 2022 onwards. To combat the detrimental effects of climate change, Tide has made the following three pledges :
Pledge 1 : Removing 100% of our emissions with durable carbon removals from 2022 onwards.
Pledge 2 : Reducing 90% of 2021 emissions per employee by 2030. These first two pledges will make Tide fully Net Zero by 2030.
Pledge 3 : Tide Member NetZero - Tide is committed to simplifying the path to Net Zero for its members by providing support and resources to help them achieve this goal.
- The CEO (Chief Executive Officer) of Tide in India is Gurjodhpal Singh.
About Transcorp International Limited : It is a Reserve Bank of India (RBI) regulated Prepaid Payment Instrument (PPI) license holder.
Managing Director : Gopal Sharma
Headquarters : New Delhi, Delhi
4. Google Pay & NPCI Collaborate to Integrate RuPay Credit Cards with UPI
On May 23 2023, Google pay has partnered with the National Payments Corporation of India (NPCI) to enable the integration of RuPay credit cards with Unified Payments Interface (UPI).
- The users could avail the feature by linking the RuPay credit cards with Google Pay to pay at all online and offline merchants where RuPay credit cards are accepted.
- The feature is now available to RuPay credit card holders of Axis Bank, Bank of Baroda (BoB), Canara Bank, HDFC bank, Indian Bank, Kotak Mahindra Bank, Punjab National Bank(PNB) and Union Bank of India(UBI).
- Benefit : The integration of RuPay Credit Card on UPI will provide both the convenience of UPI with the benefits of RuPay Credit Card.
5. YES Bank Partners with IIT Kanpur to Transform Startups and Red Hat to Redefine Mobile Banking Experience
The Startup Incubation and Innovation Centre (SIIC) at the Indian Institute of Technology (IIT) Kanpur has entered into a Memorandum of Understanding (MoU) with YES Bank to provide financial support to startups incubated at SIIC.
Here are the key details of the partnership :
(i) According to the terms of the MoU, SIIC and YES Bank will collaborate to identify innovative startups and offer them the necessary financial support.
(ii) The objective of this partnership is to foster the startup ecosystem in India by providing ventures access to a wide range of resources through YES Bank's specialized startup-focused program called YES Head-Startup.
(iii) The YES Head-Startup program, which is backed by a comprehensive banking proposition, is specifically designed for technology-based or technology-enabled startups. It is complemented by an exclusive privilege program.
Through this collaboration, SIIC and YES Bank aim to provide startups with the required financial assistance and resources to fuel their growth and contribute to the thriving startup ecosystem in India.
About YES Bank Ltd. :
MD&CEO : Prashant Kumar
Headquarters : Mumbai, Maharashtra
Establishment : 2004
Tagline : Experience Our Expertise
6. Bank of Baroda introduces Live Video chat & Web Chat for Customers
Bank of Baroda (BOB) has introduced two innovative customer service initiatives, namely "bob Video Chat" and "bob Live Chat," to enhance the overall banking experience for its customers and prospective customers. With these initiatives, BOB becomes the first public sector bank to offer live video chat and live web chat services.
Here are some key points about these initiatives :
- The introduction of live video calling service (bob Video Chat) and live web chat facility (bob Live Chat) aims to provide customers with a seamless way to connect with the bank and address their banking queries effortlessly.
- BOB has also launched a toll-free number (1800 5700) that is easy to remember and offers 24/7 customer support in 11 languages, including English, Hindi, Marathi, Gujarati, Tamil, Telugu, Malayalam, Kannada, Odia, Punjabi, and Bengali.
- Additionally, the bob Video Chat facility is available at BOB's Digital Banking Units (DBUs) across India, enabling customers to access the service conveniently.
- These initiatives reflect BOB's commitment to leveraging technology and innovation to provide efficient and customer-centric services, ensuring an enhanced banking experience for its customers.
Other News :
1. Renowned Telugu writer, Sahitya Akademi Awardee Kethu Viswanath Reddy Passed Away
On May 22 2023, a noted Telugu writer, novelist and Sahitya Akademi awardee Kethu Viswanath Reddy passed away in Ongole, Andhra Pradesh (AP) at the age of 84. He was born on July 10, 1939.
His works and awards :
- His first short story “Anaadivaallu” was published in the journal Savyasaachi in 1963.
- KethuViswanatha Reddy Kathalu (1998 – 2003), Japthu, and Ichhagni are among his best-known collections of short stories.
- Famous novels : Verlu and Bodhi.
- In 1996, Viswanatha Reddy received the Sahitya Akademi Award (Telugu) for his Short story Kethu Viswanatha Reddy Kathalu.
- In 2021, he was honoured with YSR Lifetime Achievement Award for his contribution to Telugu literature.
2. Endangered Species Day 2023 – 19th May
Endangered Species Day(ESD) is annually observed across the globe on the 3rd Friday of May to create awareness about endangered flora and fauna and to highlight the significance of the plants and animals working in harmony to sustain the ecosystem.
- " Endangered Species Day - 2023 " was observed on 19th May 2023.
- " Endangered Species Day - 2022 " was observed on 20th May 2022 and " Endangered Species Day - 2024 " will be observed on 17th May 2024.
Theme : According to the Endangered Species Coalition(ESC), The theme of Endangered Species Day 2023 is " Celebrating The 50th Anniversary Of The Endangered Species Act! " .
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