National & International News :
1. Maharashtra government launches ‘Shasan Aplya Dari’ initiative
Eknath Shinde, Chief Minister of the Government of Maharashtra launched the ‘Shasan Aplya Dari’ (government at your doorstep) initiative in Satara district of Maharashtra.
- The initiative aims to provide citizens easy access to government schemes and documents at one place.
- Around 75,000 local people are expected to benefit from these camps.
2. Shri Ramcharitmanas became the longest song in the world
Dr. Jagadish Pillai of Varanasi created a Guinness World Record by singing Shri Ramcharitmanas for 138 hours, 41 minutes and two seconds.
- This achievement made Shri Ramcharitmanas the longest song in the world.
- Dr. Jagadish Pillai has been credited with five years of broadcast of Sri Ramcharitmanas recitals on more than 100 official audio channels across the globe.
- The entire process of recording, editing and mixing took four years, 63 days and 295 hours to complete.
- The previous record for the longest song was held by UK's Mark Christopher Lee and The Pocket Gods on December 1, 2021 with a duration of 115 hours and 45 minutes.
3. 2nd G-20 Anti-Corruption Working Group meeting concluded in Rishikesh
The second meeting of the G-20 Anti-Corruption Working Group (ACWG) organized by the Union Ministry of Defense and Tourism was held in
Rishikesh (Tehri).
- The first edition of the meeting of the G-20 Anti-Corruption Working Group held in Gurugram, Haryana.
4. China launches Shenzhou-16: First civilian astronaut joins space station mission for 5 months
On May 30, 2023, China successfully launched the Shenzhou-16 manned spaceship, sending three astronauts, including the first civilian to its Tiangong space station for 5-month mission. It was launched onboard Long March-2F carrier rocket from the Jiuquan Satellite Launch Centre in Gobi Desert in northwest China.
- For the first time, China has included a civilian in its rotating crew for the space station.
- The launch also marks the 475th flight mission of the Long March carrier rocket series.
- China Manned Space Agency (CMSA) is an agency of the People’s Republic of China responsible for the administration of China Manned Space Program.
>> Men onboard :
(i) Gui Haichao, a professor at Beihang University in Beijing, became the first Chinese civilian to travel to space.
(ii) Jing Haipeng, the mission's commander, is creating history by becoming the first Chinese astronaut to venture into space for a record fourth time.
(iii) Zhu Yangzhu, the astronaut flight engineer, is embarking on his first journey into space.
5. Recep Tayyip Erdogan Re-elected as President of Türkiye for a third term
On 28th May 2023, Recep Tayyip Erdoğan was re-elected as the President of Türkiye for his third consecutive term. He has been serving as the 12th President of Türkiye since 2014.
>> About the Election :
- Recep Tayyip Erdogan won 52.14% of the votes in the second round against the Opposition candidate Kemal Kilicdaroglu, who had 47.86%.
- Run-off vote held on May 28 2023 was the first time in the history of the Republic of Türkiye, since 2014, where direct Presidential elections were introduced.
About Republic of Türkiye :
Capital : Ankara
President : Recep Tayyip Erdoğan
Currency : Turkish lira (TRY)
Economy News :
1. India & 13 IPEF Partner Nations Concluded the IPEF Supply Chain Agreement
On May 27, 2023, India and 13 other partner countries of the Indo-Pacific Economic Framework for Prosperity (IPEF) announced the substantial conclusion of negotiations for the 'IPEF Supply Chain Agreement' at the IPEF Ministerial Meeting held in Detroit, Michigan, USA.
>> Objective :
The agreement aims to enhance the resilience, efficiency, productivity, sustainability, transparency, diversification, security, fairness, and inclusivity of the supply chains in the 14 partner nations through collaborative activities and individual actions.
>> Key points :
- The IPEF Supply Chain Agreement focuses on improving crisis coordination and response to supply chain disruptions.
- It includes the establishment of three new bodies: IPEF Supply Chain Council, IPEF Supply Chain Crisis Response Network, and IPEF Labor Rights Advisory Board.
- Summaries of the ministerial meeting were released for the other pillars of IPEF: Trade, Clean Economy, and Fair Economy.
- The 14 partner countries of IPEF represent a combined economic output of approximately USD 38 trillion and are major trading partners of the United States.
About Indo-Pacific Economic Framework for Prosperity (IPEF) : IPEF is an economic initiative launched by President Joe Biden on May 23, 2022.
- It consists of 14 founding member nations in the Indo-Pacific region, with an invitation for other countries to join.
- The framework aims to foster cooperation, stability, prosperity, development, and peace within the region.
- The 14 IPEF partner countries account for 40% of global GDP and 28% of global goods and services trade.
About United States (US) :
President : Joseph Robinette Biden Jr.
Capital : Washington, D.C.
Currency : United States dollar (USD)
Banking & Finance News :
1. Razorpay unveils India’s fastest One-Step Payments Solution - Turbo UPI
Razorpay has launched India’s fastest one-step UPI (Unified Payments Interface) payment solution namely ‘Turbo UPI’ allowing customers of online merchants to make UPI payments directly without getting redirected to a third-party UPI app during checkout.
- This Solution was developed in partnership with the National Payments Corporation of India (NPCI) and Axis Bank.
- Through this app, the payment steps are reduced from 5 to 1.
>> Aim :
- To deliver a 5X faster payment experience.
- To support the businesses to achieve an increase in the success rate of UPI payments by 10%.
About Razorpay :
Co-Founder and Managing Director : Shashank Kumar
Headquarters : Bengaluru, Karnataka
Founded in : 2014
2. Equitas SFB collaborates with IBM Consulting to Modernize its Banking Platform
On May 26, 2023, Equitas Small Finance Bank Limited (SFB) collaborated with IBM Consulting, the professional services and consulting arm of IBM (International Business Machines Corporation), to design and build a digital banking platform that delivers a modern and highly secure experience to the bank’s customers and partners.
>> Objective :
- The collaboration was made to boost the digital products offered by Equitas as well as its service offerings and
- IBM Consulting became the consulting partner and technology collaborator of Equitas SFB to simplify and transform the banking experience of customers.
>> Important points to note :
- Equitas is collaborating with IBM Consulting to implement a cloud-native platform architecture, ensuring secure operation of its digital channels and applications across various technology environments.
- Equitas SFB aims to improve the bank's operational efficiency, comply with industry regulations, and strengthen security measures.
- As part of the partnership, IBM Consulting will develop and launch modern web and admin portals for Retail Banking and Corporate Banking, along with multi-device banking apps for Retail Banking.
- Narayanan Easwaran, Equitas SFB's Chief Information Officer, described the partnership with IBM as the initial step towards engaging customers.
About Equitas Small Finance Bank Limited (SFB) :
MD&CEO : Vasudevan Pathangi Narasimhan
Headquarters : Chennai, Tamil Nadu
Commenced business as SFB in : 2016
Tagline : Here, Your money works towards better society
3. Yes Bank unveils new logo and launched ‘Life Ko Banao Rich’ campaign tagline
Yes Bank, headquartered in Mumbai(Maharashtra) has unveiled a new logo and brand identity. The new
identity is designed to resonate with the evolving needs and aspirations of customers and enable people to live each day to the fullest.
- The tick has been transformed into a soaring bird, representing the Bank’s current position of ‘soaring’.
- The red and blue have been given an electric tone, representing the high energy and innovation of the bank.
>> The bank also launched an integrated campaign with the tagline : ‘Life Ko Banao Rich’ which represents its core focus of being a complete solution provider.
- The campaign will be promoted across social and digital media, OTT(over-the-top) networks and television.
- The tagline reflects its objective to encourage customers to spend time and make memories with their loved ones.
4. Sandeep Batra reappointed as ED of ICICI Bank for 2 years
The board of directors of ICICI Bank has approved the re-appointment of Sandeep Batra as Executive Director(ED) of ICICI Bank for 2 years with effect from 23rd December 2023 to 22nd December 2025.
- The current tenure of Sandeep Batra as ED is set to end on 22nd December 2023.
- In December 2020, Reserve Bank of India approved the appointment of Batra as the ED of ICICI Bank for a period of 3 years.
The Board noted that this renewed term of two years is within the five years term as previously approved by the shareholders.
5. ADB launches India CPS for 2023-27; Focus on Employment Creation, Green Growth
On May 23, 2023, the Asian Development Bank (ADB) unveiled its 'India Country Partnership Strategy (CPS) 2023-2027: Catalyzing Robust, Climate Resilient, and Inclusive Growth' to support India's pursuit of sustainable, climate-resilient, and inclusive growth over the next five years.
>> The aim of the CPS is as follows :
Facilitate India in achieving a higher growth trajectory.
The CPS is based on three pillars :
(i) Accelerate Structural Transformation and Job Creation.
(ii) Promote Climate-Resilient Green Growth.
(iii) Deepen Social and Economic Inclusiveness.
>> The key themes of the CPS include :
(i) Domestic Resource Mobilization.
(ii) Gender Equality and Social Inclusion.
(iii) Digitalization, Fintech, and Innovation Ecosystem Support.
(iv) Regional Cooperation and Integration.
The rationale behind this strategy is that India has demonstrated swift recovery from the impact of the COVID-19 pandemic, with an anticipated economic growth rate of 6.4% in FY2023–2024, positioning it among the world's fastest-growing major economies. However, to achieve inclusive growth, India must address critical challenges related to infrastructure, human development, income and regional disparities, and vulnerability to climate change and natural disasters.
To support India in addressing these challenges, the CPS will assist in its structural transformation and contribute to national flagship programs targeting the development of industrial corridors, multimodal logistics systems, urban infrastructure, skill ecosystems, and small businesses.
>> The benefits of the CPS include :
(i) Empowering urban areas to enhance industrial competitiveness and generate more jobs in the formal manufacturing and services sectors.
(ii) Maximizing value addition through knowledge solutions, technical assistance, and capacity building of partner agencies in strategic engagement areas.
(iii) Recognizing India as a vital partner of ADB.
As of the end of December 2022, ADB had committed $52.6 billion in 605 public sector loans, grants, and technical assistance in India, along with $8 billion in private sector investments.
About Asian Development Bank (ADB) :
President : Masatsugu Asakawa
Headquarter : Manila
Establishment : 1966
6. Ashwani Kumar, Executive Director of Indian Bank appointed as MD & CEO of UCO Bank
The Appointments Committee of the Cabinet (ACC) approved the appointment of Ashwani Kumar, Executive Director, Indian Bank as Managing Director (MD) and Chief Executive Officer (CEO) of UCO Bank, a Commercial public sector bank undertaken by the Government of India (GOI).
- The appointment has been made for a period of three years, with the possibility of an extension based on the review of his performance. Ashwani Kumar succeeding Soma Sankara Prasad, who has been the MD & CEO from 2021 is set to retire on 31st May 2023.
About UCO Bank :
Founded in : 1943
MD & CEO : Soma Sankara Prasad
Headquarters : Kolkata
Motto : Honours your Trust
Other News :
1. Kannada writer and Sahitya AkademiAwardee, GH Nayak passed away
Noted Kannada writer, critic and Sahitya Akademi award winner Govindaray H Nayak, popularly known as GH Nayak passed away at his residence in Mysuru, Karnataka at the age of 88.
- Department of Kannada and Culture, Karnataka Government, honoured him with the Pampa Prashasti for literature for 2010.
- In 2014, he was honoured with the SahityaAkademi Award for the compilation of his essays on literary criticism titled “Uttaraardha”
(Kannada).
2. World Vape Day 2023 - 30th May
World Vape day is annually observed on May 30th across the globe to raise awareness about the alternatives to the tobacco products and highlight the safety of E-Cigarettes and their potential as harm reduction and smoking cessation tools.
- World Vape day on May 30 falls just a day before the World No Tobacco Day (May 31) of the World Health Organisation (WHO).
- World vape day was initiated by the World Vapers Alliance (WVA), which was established to defend vaping by providing a unified platform that makes vapers’ voices heard around the world.
- Vaping is the inhaling of a vapour created by an electronic cigarette (E-cigarette).
3. World No Tobacco Day 2023 - 31st May
On 31 May 2023, WHO and public health champions around the world will come together to celebrate World No Tobacco Day (WNTD). This year's theme is “ Grow food, not tobacco ”.
>> Objectives :
- To mobilize governments to end subsidies on tobacco growing and use of savings for crop substitution programmes that support farmers to switch and improve food security and nutrition.
- To support the efforts to combat desertification and environmental degradation by decreasing tobacco farming.
>> Each year, approximately 3.5 million hectares of land are converted for tobacco cultivation globally, leading to deforestation of around 200,000 hectares annually.
- Tobacco cultivation reduces the fertility of the land, making it less suitable for growing other crops, including food.
>> World No Tobacco Day 2023 awards :
- The State Tobacco Control Cell (STCC) of the Government of Meghalaya and the Centre for Multi-Disciplinary Development Research in Dharwad, Karnataka, were honored with the World No Tobacco Day 2023 awards in the "South-East Asia Region" category.
- These awards recognize individuals and organizations in each of the six WHO regions (Africa, Americas, Eastern Mediterranean, Europe, South-East Asia, and Western Pacific) for their achievements in tobacco control.
- The awards are presented in the form of WHO Director-General Special Recognition Certificates.
Highlights :
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