News360 - 9th May , 2023 | Daily Current Affairs

 National and International News :

1. Defence Minister Rajnath Singh Inaugurates India’s 1st IAF Heritage Centre in Chandigarh

India's first-of-its-kind Indian Air Force (IAF) Heritage Centre was inaugurated by Union Minister Rajnath Singh, Ministry of Defence, during his one-day visit to Union Territory (UT) of Chandigarh on May 08, 2023. The centre is located in Chandigarh's Sector 18 and showcases the IAF's various aircraft and contributions in various wars. Spread across 17,000 square feet at the Government Press Building, the heritage centre includes five vintage aircraft, cockpit exposure, and flight simulators to provide visitors with a realistic experience.

- The IAF Heritage Centre features the first IAF-made patent aircraft, Air Force 'Kanpur-1 Vintage Prototype Aircraft', a single-engine indigenous flying machine designed and built by the late Air Vice Marshal Harjinder Singh in 1958 at Base Repair Depot Kanpur. Accompanying the Defence Minister were Banwarilal Purohit, V R Chaudhari, Air Chief Marshal, and Kirron Kher, Member of Parliament (MP). During the visit, the Defence Minister also inaugurated and laid foundation stones for several other projects in Chandigarh.

- In addition to the aircraft and simulators, a souvenir shop equipped with the IAF's memorial and scale models has been set up at the heritage centre.

2. NITI Aayog’s Best Practices in Social Sector : A Compendium, 2023 includes 14 Union Govt Initiatves

The 'Best Practices in Social Sector: A Compendium, 2023', a compilation of 75 initiatives of the Centre and the states/Union Territories (UTs) in the social sector, was released by NITI Aayog (National Institute for Transforming India) in collaboration with the United Nations Development Programme (UNDP) on May 1, 2023. The compendium comprises 14 initiatives launched by the Union government, two joint initiatives by the Centre and state governments, and the remaining initiatives from 26 states and UTs.

- The 75 initiatives are the innovations in policymaking at national and state levels in 14 key social sectors such as health, education, agriculture, science and technology, the environment, Disaster mitigation,Sports, COVID–19, Energy conservation, E- governance and digitization, Women’s empowerment, Financial inclusion, Skill development, and Social welfare.

- 75 initiatives have benefitted a large segment of the society and are replicable.

- Key Initiatives under Social Sector :

(i) Union Government’s Initiatives :

DigiLocker

UMANG (Unified Mobile Application for New-age Governance)

Direct and full benefit of Minimum Support Price (MSP) to farmers

Department of Food and Public Distribution

Academic Bank of Credits

National Academic Depository

A life, less ordinary: Ganga Prahari - Guardians of the Ganga

National Artificial Intelligence Portal-A critical hub for everything AI in India

Innovations for Defence excellence

Combating drug addiction – Nasha Mukt Bharat

Prayatna : Special Project for Transgenders

Financial inclusion for street vendors under PM SVANidhi

Ethanol – A success story

Portability of Ration Cards : One Nation One Ration Card

(ii) Government of NCT of Delhi’s Initiatives :

Home based education to children with multiple disabilities and profound/severe disabilities

Electric vehicle policy and Induction of Electric Buses –A measure to improve Delhi’s air quality

Bio Decomposer Solution and Spray Programme – Fighting stubble burning

Delhi pushes towards sustainable power eco-system

(iii) Government of Karnataka’s Initiatives :

Kalika Chetarike – Activity based learning in Karnataka

Solving dry waste handling Materials Recovery Facility at Nitte Gram Panchayat, Zila Panchayat, Udupi District

Santhe Kaushalkar - Self Help Group and Artisan Profiling Platform

Farmer Registration and Unified beneficiary Information System (FRUITS)

Kutumba : Social Protection cum Entitlement Management System

Akanksha : An integrated online platform for SDG and CSR alignment

(iv) Government of Uttar Pradesh’s Initiatives :

Black Rice Initiative in Chandauli

Reducing Maternal and Newborn Deaths (ReMiND) through mobile application

SARTHI & SAKHI - Mental Health Helpline

Shifting Gears from Disaster Management to Disaster Risk Reduction in Chitrakoot District

Number of Best Practices in Social Sector :

1. Union Government - 14

2. Union  and State Government Joint initiatives - 2

3. Karnataka - 6

4. Assam, Madhya Pradesh - 5 each

5. NCT of Delhi, Uttar Pradesh - 4 each

6. Jharkhand, Odisha, Rajasthan - 3 each

7. Andaman and Nicobar, Punjab, Chhattisgarh, Gujarat, Maharashtra, Telangana, Uttarakhand, Manipur - 2 each

8. Jammu and Kashmir, TamilNadu, Bihar, Chandigarh, Haryana, Andhra Pradesh, Arunachal Pradesh, Kerala, Tiripura, Nagaland - 1 each

3. WHO launched PRET initiative to be better prepared for future pandemics

On 26th April , 2023 WHO (World Health Organisation) launched a new initiative called PRET (Preparedness and Resilience for Emerging Threats) to ensure the world is prepared for future outbreaks like the Covid-19 pandemic.

Aim : To help world countries by providing guidance on integrated planning for responding to respiratory pathogens and their recovery by supporting to strengthen the systems and capacities.

- PERT is a Call to Action to accelerate preparedness for pandemics and emerging threats globally. The PRET Initiative’s first module focuses on respiratory pathogens, including influenza, coronaviruses, and respiratory syncytial virus.

- The PRET initiative was announced at the Global Meeting for Future Respiratory Pathogen Pandemics held on 24-26 April 2023 in Geneva, Switzerland. 

4. GRFC 2023 : People Facing Acute Hunger in 58 Food Crisis Countries Rise to 258 Million in 2022

The 'Global Report on Food Crises (GRFC) 2023', the flagship publication of the Global Network Against Food Crises (GNAFC) and the seventh edition of the annual report produced by the Food Security Information Network (FSIN), estimates that the number of people facing acute food insecurity at crisis or worse levels (IPC/CH Phase 3-5) in 2022 has risen to nearly 258 million people, which is 22.7% of the analysed population in 58 food-crisis countries/territories, up from 193 million people in 53 countries and territories in 2021. This is the highest number in the seven-year history of the GRFC.

- GNAFC, an international alliance of the United Nations, the European Union, governmental and non-governmental agencies working to tackle food crises together, launched the report. The Integrated Food Security Phase Classification- Cadre Harmonisé (IPC-CH) Dashboard, a visual display of the total number of people experiencing or facing high levels of acute food insecurity classified in Crisis or worse (IPC/CH Phase 3 or above), was also released.

- The report's key findings reveal that economic shocks became the primary driver in 27 countries with 83.9 million people in IPC/CH Phase 3 or above, while conflict/insecurity was the most significant driver in 19 countries/territories, where 117 million people were in IPC/CH Phase 3 or above. Weather/climate extremes were the primary driver of acute food insecurity in 12 countries, where 56.8 million people were in IPC/CH Phase 3 or above.

- The report projects that up to 153 million people, or 18% of the analysed population, will be in IPC/CH Phase 3 or above in 38 of the 58 countries/territories. Around 310,000 people are projected to be in IPC/CH Phase 5 across six countries: Burkina Faso, Haiti, Mali, parts of Nigeria (26 states and the FCT), Somalia, and South Sudan. Three-quarters of them will be in Somalia.

In short :

- GRFC 2023 : a joint assessment of acute food insecurity by 16 partners in 58 countries/territories 

- GNAFC : an international alliance of UN, EU, governmental and non-governmental agencies working to tackle food crises together 

- IPC-CH Dashboard : a visual display of the number of people in Crisis or worse (IPC/CH Phase 3 or above) due to acute food insecurity

 - Key findings :

(i) 258 million people in IPC/CH Phase 3 or above in 2022, up from 193 million in 2021

(ii) Economic shocks: primary driver in 27 countries with 83.9 million people in IPC/CH Phase 3 or above

(iii) Conflict/insecurity: primary driver in 19 countries/territories with 117 million people in IPC/CH Phase 3 or above

(iv) Weather/climate extremes: primary driver in 12 countries with 56.8 million people in IPC/CH Phase 3 or above

- Projections :

(i) Up to 153 million people in IPC/CH Phase 3 or above in 38 countries/territories

(ii) Around 310,000 people in IPC/CH Phase 5 across six countries: Burkina Faso, Haiti, Mali, parts of Nigeria, Somalia, and South Sudan

5. BMC & MGL Partners to set up Asia’s largest bio-gas plant in Mumbai ; to Treat 1,000 Tonnes of Wet Waste Daily

The Brihanmumbai Municipal Corporation (BMC) and the Mahanagar Gas Limited (MGL), a Public Sector Undertaking of the Gas Authority of India Limited (GAIL), are joining hands to set up Asia’s largest bio-gas plant in Mumbai, Maharashtra. 

The upcoming plant will be able to scientifically treat the segregated 1000 tonnes of wet-waste per day into compressed bio-gas (CBG).

- The proposed plant will recycle 3,500 tonnes of damp, organic, and degradable waste, from the 6,000 tonnes of solid waste that are generated per day in Mumbai.

- The BMC will supply the segregated wet waste to the plant, which MGL will treat to produce gas and supply it back to Mumbai. The BMC will provide the land parcel, and MGL will bear the capital expenditure.

6. King Charles III & Queen Camilla crowned at Westminster Abbey, UK

King Charles III and Queen Camilla were crowned at Westminster Abbey on 6 May 2023, becoming the 40th monarchs to be crowned at the location since 1066. Charles received the St Edward's Crown and took an oath, while Camilla had a simpler ceremony and wore a modified version of Queen Mary's Crown. They travelled to Buckingham Palace in a state procession and appeared on the balcony with other members of the royal family. The coronation was attended by over 2,000 guests and broadcasted worldwide, celebrating the start of a new era for the United Kingdom and the Commonwealth.

Key notes :

(i) During the historic coronation ceremony, King Charles III donned St Edward’s Crown.

(ii) St Edward's Crown was previously worn by King Charles III's late mother, Queen Elizabeth II, during her coronation in June 1953 and his late grandfather, King George VI, at his coronation in May 1937.

(iii) At the Coronation, Queen Camilla wore Queen Mary’s Crown. This is the first instance of a Consort's crown being reused since the 18th century.

Banking and Finance News :

1. BharatPe Rebrands Multi-Brand Loyalty Program PAYBACK India as ‘Zillion’

On 4th May 2023, BharatPe Group, a fintech startup, announced the rebranding of its loyalty program, PAYBACK India, the multi-brand loyalty program to “Zillion”. The new web address for Zillion is - https://zillionrewards.in/.

- This new brand identity is in line with BharatPe’s vision to make Zillion ubiquitous to loyalty and rewards across India.

- Zillion aims to target customers across age groups and add a new dimension to their overall shopping experience, across categories and brands.

- Zillion will have a wide range of options for customers to earn and redeem points at a variety of partners across India.

- Customers will be able to earn ‘Zillion coins’ across the network of offline and online partners, including groceries, fuel, entertainment, travel, apparel, and more.

2. ADB announces IF - CAP programme to facilitates billions in climate change financing 

The Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP) program has been launched by the Asian Development Bank (ADB) to expedite climate change funding in the region. The program's partners are Denmark, Japan, the Republic of Korea, Sweden, the United Kingdom, and the United States. 

- The IF-CAP funding will aid ADB's goal of mobilizing $100 billion from its resources to combat climate change from 2019 to 2030.

Other News :

1. International No Diet Day 2023 – 6th May

International No Diet Day (INDD) is annually observed across the globe on May 6 to promote body positivity, self-acceptance, and the acceptance of all body shapes and sizes, as well as raise awareness about the dangers of dieting.

Ribbon : The symbol of International No Diet Day is a light blue ribbon.

Aim :

(i) The aim of INDD is to promote a healthier and more sustainable approach to health and well-being that focuses on self-love, body acceptance, and mental and emotional well-being.

(ii) The day also aims to raise awareness of eating disorders, a major mental health problem that affects people of all ages, genders, and socioeconomic backgrounds.

2. World Athletics Day 2023 - 7th May

World Athletics Day is annually observed across the globe on May 7 to promote sports and exercise for physical and mental well-being. The day aims to raise awareness about the benefits of physical activity and encourage young and school children to take up athletics.

- World Athletics Day 2023 was observed on 7th May 2023 under the theme “Athletics for All - A New Beginning”.

The theme focuses on promoting diversity and inclusivity in athletics and making sports accessible to people of all genders, ages, abilities, and backgrounds.

- The day is annually observed by the International Association of Athletics Federations (IAAF), formerly the International Amateur Athletic Federation (1912–2001).

- The IAAF was renamed World Athletics in 2019.

3. 64th Raising Day of Border Roads Organisation - 7th May, 2023

The Border Roads Organisation (BRO) celebrated its 64th Raising Day on 7th May 2023 to commemorate its formation on the same date in 1960. The day honours the BRO personnel for their contribution and encourages them to continue their excellence in building and maintaining roads and bridges in the border areas.

- BRO is a leading road construction agency in India under the Ministry of Defence (MoD) since 2015. It also supports the strategic needs of the armed forces by developing and maintaining infrastructure in a cost-effective and dedicated manner.

- BRO has built over 61,000 kms of roads, over 900 Bridges, four Tunnels and 19 airfields along India’s borders and in friendly foreign countries, such as Bhutan, Myanmar, Afghanistan and Tajikistan . It has also constructed some of the great engineering marvels like Atal Tunnel, Atal Setu, Col Chewang Rinchen Setu and Umling La .

Important :

(i) As part of the ‘Digital India’ initiative, BRO-centric softwares were launched to improve the functioning and transparency of the BRO. These softwares are: Recruitment Management System, Electronic Measurement Book & Work Management System. They help in automating various processes of the BRO, such as recruitment, measurement and work management, for better efficiency and output.

(ii) A new agreement was reached between the Border Roads Organisation (BRO) and Garden Reach Shipbuilders & Engineers (GRSE) Limited on the occasion of the BRO's 64th Raising Day. The agreement involves the construction of 27 indigenous Class 70R Double Lane Modular Bridges along the Northern and North Eastern border states. These bridges are designed to carry a load of 70 tons and can be erected within 45 days of site handover. They will enhance the operational readiness of the Armed Forces in the strategic areas. The Class 70R Double Lane Modular Bridge is the first of its kind in India and is 100 per cent indigenous .

4. World Red Cross and Red Crescent Day 2023 - 8th May

World Red Cross and Red Crescent Day is annually observed across the globe on 8th May to celebrate the principles of the International Red Cross and Red Crescent Movement.

The theme of World Red Cross and Red Crescent Day 2023 is “Everything we do comes #fromtheheart” .

News360 - Weekly CA Shorts (May First Week) | Weekly Current Affairs - May 2023

 Weekly Current Affairs - 1st May to 7th May , 2023

1. Reserve Bank of India removed restrictions on resident individuals from opening interest earning Foreign Currency Accounts (FCA) in International Financial Services Centres (IFSCs) for making investments under the Liberalised Remittance Scheme (LRS).

2. Razorpay joined with the e-commerce network Open Network for Digital Commerce (ONDC) a non-profit company set up by the Department for Promotion of Industry and Internal Trade (DPIIT) as an alternative for internet shopping.

3. Redington Limited and State Bank of India have partnered to offer Solar Loans of up to Rs. 5 crore at interest rates linked to rates that the bank charges its best customers .

4. State Bank of India is contemplating launching new variants of current account (with balances of 50,000 and 50 lakh) and Parivar savings account in FY24.

5. The " Singara Chennai Card " [ National Common Mobility Card NCMC) ] was introduced by Chennai Metro Rail Ltd.  in collaboration with State Bank of India.

6. RBI Governor Addresses Global Conference on Financial Resilience 

[ Theme - " Financial Stability : Framework, Monitoring and Implementation " ].

7. IndusInd Bank to launch digital bank " Indie " 

Note : Number of digital payment transactions in FY23 -  9,192 cr. 

8. Tesla Power USA Inks Pact With Indian Oil To Sell Batteries At Petrol Pumps [ The company has 36,000 petrol pumps in the country ].

9. MSME Minister Narayan Tatu Rane launches Revamped Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) Scheme in Mumbai, Maharashtra.

About Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) :

- Launched in August 2000

- Set up By Ministry of Micro, Small & Medium Enterprises (MSME), Government of India and Small Industries Development Bank of India (SIDBI)

- Objective : To catalyse flow of institutional credit to Micro & Small Enterprises (MSEs).

10. Prime Minister Narendra Modi virtually inaugurated All India Radio's (AIR) 91 new 100 WFM Transmitters which have been installed in 85 districts across 18 States and 2 Union Territories to give a further boost to radio connectivity in India.

11. The Anji Khad cable stayed train bridge, the 96 cables on India's 1st cable stayed bridge connecting Katra and Reasi in Jammu and Kashmir (J&K) have been installed 

[ The cable stayed bridge portion is 473 metres long and has a total length of 725 metres ; The cost of over Rs. 400 crore ; The cable stayed train bridge crosses the Anji River, a tributary of the Chenab].

12. ITC Limited has overtaken Infosys Limited, an Indian multinational information technology company, to become India's 6th largest company, as per market capitalization.

13. According to the 2023 Special 301 Report, on the adequacy and effectiveness of the United States trading partners protection and enforcement of intellectual property rights (USTR ) , released by the Office of the United States Trade Representative, India is retained in the Priority Watch list of 2023

[ Along with India, Argentina, Chile, China, Indonesia, Russia and Venezuela are placed on the Priority Watch list in 2023 ; USTR reviewed more than 100 trading partners for this year's Special 301 Report, and placed 29 of them on the Priority Watch List or Watch List ].

14. The 68th edition of the Hyundai Filmfare Awards (Filmfare Awards 2023) took place at the Jio World Conventional Centre in Mumbai 

[The awards were first introduced in 1954 ; The Filmfare Awards are presented annually by The Times Group ].

15. The Dalai Lama personally received the 1959 Ramon Magsaysay Award [ The award was given in August 1959 by the Ramon Magsaysay Award Foundation in the Philippines ] from members of the Ramon Magsaysay Award Foundation at his residence .

Note : The Ramon Magsaysay Award, often called the " Nobel Prize of Asia " .

16. Vodafone Group Plc appointed Margherita Della Valle as the permanent CEO of Vodafone .

17. A Madhavarao , Director of Bharat Dynamics Limited , has been selected for the Post of Chairman and Managing Director of Bharat Dynamics Limited.

18. Pankaj Singh, the BJP MLA from Noida and son of Union Defence Minister Rajnath Singh, has been elected unopposed as the Cycling Federation of India president in the Annual General Body meeting in Nainital.

19. Australian Prime Minister Anthony Albanese announced that they will host the third in person Quad Summit on May 24 in Sydney

[ It will be attended by US President Joe Biden, Japanese PM Fumio Kishida and Prime Minister Narendra Modi ].

20. Arya.ag , India's largest Grain commerce platform of Aryatech Platforms Private Limited, made partnership with Shivalik Small Finance Bank (SFB) to drive financial inclusion for farmers and FPOs (Farmers Producers Organisations) through offering loans via Shivalik SFB under warehouse receipt finance.

21. According to the Asian Development Bank (ADB) Annual Report 2022 Pakistan got loans of USD 5.58 billion, making it the largest recipient of ADB funded programs/projects in 2022.

- ADB to fund Rs. 1,311.20 cr Tourism Projects in Himachal Pradesh ; The Asian Development Bank has approved a USD 130 million (over Rs. 1,072 crore) loan to Himachal Pradesh ; ADB Proposes up to $25 Billion Support to India’s Development Priorities.

22. NLC India Limited has signed a MoU with The Nature Conservancy Centre India (TNC India) to collaborate on research work pertaining to the repurposing of mined out lands for setting up of Renewable Energy projects .

23. People in Bengaluru experienced a unique astronomical phenomenon as their shadows disappeared from the surface ; the city experienced Zero Shadow Day at 12 : 17 pm as the Sun was overhead on 25th April , 2023 .

24. The Ministry of Housing and Urban Affairs (MoHUA) launches the " City Beauty Competition " and Portal . Through this portal, all the Urban Local Bodies (ULB) across India can participate in the competition via online process 

[ It was launched by the MoHUA in December 2022 ].

25. Canadian concrete waterproofing solutions provider, Xypex has announced the launch of its first production plant in India . The plant will be opened at Greater Noida, Uttar Pradesh.

26. The 7th edition of India and the United Kingdom (UK) bilateral training exercise " Ajeya Warrior " 2023 was planned to be conducted at Salisbury Plains, UK . It is a biennial training exercise of India and UK, which is conducted alternatively in the UK and India, the 6th edition was held at Chaubatia , Uttarakhand in October 2021.

27. The United Kingdom based Sanskrit Scholar, Dr. M.N. Nandakumara , Executive Director of the Bharatiya Vidya Bhavan centre in London, UK has been awarded the honorary " Member of the Most Excellent Order of the British Empire " (MBE) by King Charles III .

28. The Green Organization, London, United Kingdom (UK) presented the Green World Awards 2023, at Miami International Airport in the United States of America (USA) ; India's Vedanta Limited, Power Grid Corporation of India Limited (POWERGRID) and Chennai Metro Rail Limited (CMRL) received awards in various categories.

29. The Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi has approved the appointment of Debadatta Chand as the new Managing Director (MD) and  Chief Executive Officer (CEO) of Bank of Baroda (BoB) 

[ He will succeed, Sanjiv Chadha the incumbent MD and CEO of BoB , who is set to retire on 30th June 2023 ].

- The ACC has also approved the appointment of Rajneesh Karnatak Executive Director (ED) of Union Bank of India as the MD and CEO of Bank of India (BoI) for a period of three years

[ He succeeds Atanu Kumar Das whose tenure as MD and CEO of BoI ended in January 2023 ].

30. Venkatasamy Jagannathan , Chairman and Chief Executive Officer (CEO) of Star Health and Allied Insurance Co Ltd, stepped down from his position as CEO.

31. Engineers at the Massachusetts Institute of Technology (MIT) Massachusetts, United States of America (USA) have designed a two component system - a combination of " Synthetic nanoparticles " and a " polymer " that can be injected into the body and help from blood clots at the sites of internal injury.

32. Shashi Shekhar Vempati , a former Chief Executive Officer (CEO) of Prasar Bharati , released his book titled , " Collective Spirit, Concrete Actions " focused on Mann Ki Baat.

33. " Pushkaram " is a festival celebrated in India once every 12 years, the 12-day Pushkaralu festival of Telugu speaking people commenced in Varanasi, Uttar Pradesh (UP) and it is dedicated to worshiping the 12 sacred rivers - Ganga, Yamuna, Narmada, Saraswathi, Godavari, Krishna, Kaveri, Bhima, Tapati, Tungabhadra, Sindhu and Pranhita .

34. Bank of India (BoI) announced the launch of a retail term deposit scheme for senior citizens named " Shubh Arambh Deposit ".

- The bank is providing a 7.15% interest rate on a 501 day term for the general public

[ With effect from 1st April 2023 ,the special FD scheme comes with an additional interest rate of 0.50% for senior citizens and 0.65% for super senior citizens ].

35. Markets regulator, Securities and Exchange Board of India (SEBI) came out with an advertisement code for investment advisers and research analysts whereby they have been prohibited from issuing statements which may mislead investors . 

The advertisements by Investment Advisers (IAs) and Research Analysts (RAs) should not contain superlative terms such as " best, No. 1, top adviser/research analyst, leading " . The new code, aimed at further strengthening the conduct of IAs and RAs, will come into force from May 1, 2023.

36. The United Kingdom and India signed an agreement to collaborate on science and innovation . The agreement between the two nations was signed after the meeting between the Union Minister of State (Independent Charge) for Science and Technology Jitendra Singh and UK Science Minister George Freeman.

37. The Supreme Court modified its order of maintaining eco sensitive zones around national parks or wildlife sanctuaries . Supreme Court modified its June 2022 order of maintaining a 1 km eco sensitive zone (ESZ) around national parks or wildlife sanctuaries . 

Supreme Court in its modified order removed a complete ban on development and construction activities within ESZs . The order has been issued by a bench of Justices B.R Gavai Vikram Nath and Sanjay Karol.

38. Central government employees will now get 42 days special casual leave for organ donation . Presently, rules say a maximum of 30 days can be granted as special casual leave in any one calendar year.

39. Agriculture Minister Narendra Singh Tomar has launched the first of its kind " Millets Experience Centre (MEC) " at Dilli Haat in New Delhi . National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) has established the Millets Experience Centre in collaboration with the Agriculture Ministry.

Note : The United Nations General Assembly has declared the year 2023 as the International Year of Millets (IYM) 2023.

40. Prime Minister Narendra Modi has inaugurated NAMO Medical Education and Research Institute in Silvassa , Dadra and Nagar Haveli and Daman and Diu 

[ The foundation stone of NAMO Medical Education and Research Institute was also laid by the Prime Minister himself in January 2019 ].

-  The Prime Minister inaugurated the Devka Seafront in Daman . The 5.45 km Seafront built at a cost of around Rs. 165 crore is one of its kind coastal promenade in the country.

- PM Modi flagged off India's first water metro project in Kochi ; PM Modi inaugurated CBI's diamond jubilee celebrations ; PM Modi laid foundation stone for first Digital Science Park in Thiruvananthapuram ; PM Modi laid the foundation stone and dedicated to the nation various projects worth 10,900 crore rupees in Guwahati.

41. An Odisha born entrepreneur in the United Kingdom (UK) Biswanath Patnaik has pledged about Rs. 250 crores to a UK based charitable organisation Shree Jagannatha Society (SJS) UK, working on constructing the UK's first temple devoted to Bhagwan Jagannath in London .

42. Indian Navy's Surface warships are inducting the Naval Anti Drone System (NADS) developed by the Defence Research and Development Organisation (DRDO) with the support of the Indian Navy and manufactured by the Bharat Electronics Limited (BEL) . 

This is the first indigenously developed Naval Anti Drone System to be inducted into the Indian Armed Forces. This system uses a laser based kill mechanism for destroying the enemy target.

43. For the third year in a row, Tamil Nadu has topped the list of States with highest market borrowings . According to RBI's data, Tamil Nadu's gross market borrowings through State Development Loans (SDL) stood at Rs. 68,000 crore during April-February FY23 . Tamil Nadu stood on top of the borrowing table in the previous two fiscals too . The State borrowed Rs. 87,977 crore in FY21 and Rs. 87,000 crore FY22.

Top - 3 borrower among States in April February FY23 :

1. Tamil Nadu - Rs. 68,000 crore

2. Andhra Pradesh - Rs. 52,860 crore

3. Maharashtra - Rs. 50,000 crore

44. The government has appointed Siddharth Mohanty as the chairman of Life Insurance Corporation of India (LIC) till June 2024. Mohanty was serving as the interim chairman of the corporation from March 14 , 2023 . Also Chairman Siddhartha Mohanty will be the Managing Director (MD) and Chief Executive Officer (CEO) of the insurance giant from June 2024 to June 2025.

45. Justice Sarasa Venkatanarayana Bhatti has been appointed as the acting Chief Justice (CJ) of Kerala . He succeeded Justice S Manikumar who retired on 22nd April 2023.

46. Dubai based airline Emirates has unveiled the world's first robotic check-in assistant named " Sara " .

47. Union Minister of Finance and Corporate Affairs Nirmala Sitharaman has launched " Reflections " a book authored by eminent banker Narayanan Vaghul in Mumbai . The book carries a vivid account of Vaghul's experiences spanning decades in India's financial landscape.

48. HDFC Bank has launched " HDFC Bank Smart Saathi " a digital distribution platform which will help in connecting Business Correspondents and Business Facilitators to the bank . HDFC Bank Smart Saathi will enable its agents to offer over 40 banking products and services, including loan products, especially for rural customers.

49. According to latest shareholding data, Foreign investors holdings in many of the private sector banks went down marginally in FY23 as they pulled out Rs. 29,921 crore from the Banking and Financial Services sector, making it the 3rd highest loser of Foreign portfolio investment (FPI) money after IT (Information Technology) Services Rs. 51,138 crore and Oil & Gas Rs. 37,674 crore.

- FPIs holding in RBL Bank went down by 4% to 25% as of March 2023 quarter ; In IndusInd Bank too, FPIs have trimmed their exposure by 4% to 42.16% .

- In FY23 FPIs increased their stakes in Yes Bank (by 12%) , IDFC First Bank (by 6%) and Axis Bank ( by 2%).

50. India's biggest public sector bank, State Bank of India (SBI) collaborates with a startup, Garuda Aerospace Pvt Ltd (GAPL) with a view to making drone technology more accessible to the agricultural sector while also increasing efficiency in the sector's use of the technology.

51. According to the International Monetary Fund's (IMF) Regional Economic Outlook Asia and Pacific May 2023, growth in Asia and the Pacific is projected to increase to 4.6% in 2023 from 3.8% in 2022 . 

Asia and the Pacific region is expected to contribute around 70% of global growth in 2023 . The global economy is expected to grow by 2.8% in 2023 and 3% in 2024.

52. The International Financial Services Centers Authority (IFSCA) and IHub Data, IIIT (International Institute of Information Technology) Hyderabad signed a MoU at IIIT Hyderabad campus in Hyderabad , Telangana.

53. India will join the International Civil Aviation Organization (ICAO) Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and Long Term Aspirational Goals (LTAG) from 2027.

54. The Telangana Government has launched a Grand Challenge for Innovation to promote innovation in the food processing sector.

- The Telangana government is organising a Food Conclave - 2023 focussing on the opportunities in Green, White, Yellow, Blue, and Pink revolutions . The theme of the conclave is " Envisioning India's Decade in the Agri Food Sector ".

55. According to the 4th edition of World Economic Forum (WEF)'s bi-annual survey report , Future of Jobs Report 2023 Insight Report May 2023 , the Indian jobmarket is expected to expand by 22% over the next five years with top job creation from the artificial intelligence, machine learning and data segments.

- The survey report included 803 companies, which combined employ more than 11.3 million people across 45 economies from across the globe and 27 sector clusters.

- Globally, the job market is estimated to expand at 23% with 69 million new jobs expected to be created over the next 5 years.

56. UK (United Kingdom) based Indian origin actor, writer Meera Syal has been presented a BAFTA (British Academy of Film and Television Arts) Fellowship, the highest accolade granted annually by the BAFTA.

57. A former Member of Parliament, Pandit Ramkishan was honoured with the title of " Shatabdi Purush (Man of the Century) "  to recognise his efforts as a socialist leader during the event organised to mark the birth centenary celebrations of Madhu Limaye in New Delhi.

58. Canada based Brookfield Asset Management has acquired a 51% stake in 4 commercial properties Rostrum Realty Private Limited, a real estate joint venture firm, in which Bharti Enterprises Limited will hold the balance of 49% .

59. In the Badminton Asia Championship 2023 the Indian pair of Chirag Shetty and Satwiksairaj Rankireddy won the men's doubles title, held in Dubai . They defeated Malaysian pair Teo Ee Yi and Ong Yew Sin in the final.

Note : This was India's second ever Badminton Asia Championships title after Dinesh Khanna in 1965.

60. Retired Indian Administrative Service (IAS) officer Amitabh Kant, who served as Chief Executive Officer (CEO) of the NITI Aayog 2016-2022 has authored a new book titled " Made In India : 75 Years of Business and Enterprise " published by the Rupa Publications India.

61. Airtel Payments Bank collaborated with the National Payments Corporation of India (NPCI) to roll out Face Authentication for Aadhaar enabled Payment System (AePS) at its 5 lakh banking points to drive financial and digital inclusion.

62. Pine Labs India announced the acceptance of the digital Rupee or central bank digital currency (CBDC) on its PoS (point-of-sale) terminals across key retail outlets in Mumbai and Bengaluru in partnership with ICICI Bank.

- ICICI Prudential Life Insurance launched " ICICI Pru Gold " .

63. Dvara SmartGold Private Limited has entered into a strategic partnership with Bengaluru based Jana Small Finance Bank (SFB) to offer gold loans to its customers in Tamil Nadu, Chhattisgarh and Maharashtra.

64. Bharti Airtel Limited (Airtel) and Dialog Axiata PLC, Sri Lanka's largest telecommunications service provider, signed a binding term sheet for the merger of their Sri Lankan subsidiaries.

65. The Institute of Chartered Accountants of India (ICAI) and the Institute of Chartered Accountants in England and Wales (ICAEW) have renewed their Memorandum of Understanding (MoU) which will open opportunities for the appropriately qualified members of both the institutes 

[ The 1st MoU between the two Institutions, which established the relationship between ICAI and ICAEW, was signed in 2008].

66. The Indian Army's (IA) Military Engineer Services Jhansi in Uttar Pradesh signed a MoU with Indian Institute of Technology Kanpur, UP to convert IA's stations/cantonments into carbon neutral campuses.

- IIT Bombay, UIDAI join hands to develop touchless biometric.

- IIT Roorkee signs MoU with Taiwan's NCDR to Develop Tech Solutions for Earthquakes & Floods.

67. Council of Scientific and Industrial Research (CSIR) and Directorate of Defense Research and Development (DDR&D) , Ministry of Defense of the State of Israel, signed a Multi-Sectoral MoU on Industrial Research and Development Cooperation focusing on several key technology areas.

68. The Government of India blocked 14 messenger mobile applications widely used in Jammu and Kashmir for spreading terror . The ban on these apps has been implemented under Section 69A of the Information Technology Act, 2000.

69. IIT Kanpur's C3iHub, a cybersecurity Technology Innovation Hub, formally inaugurated its Cybersecurity Skilling Programme with support from the Department of Science and Technology, Government of India, under the National Mission on Interdisciplinary Cyber Physical Systems (NM-ICPS) .

70. Maharashtra Deputy Chief Minister Devendra Fadnavis has unveiled a statue of Maratha warrior king Chhatrapati Shivaji Maharaj in Mauritius . Devendra Fadnavis also announced a grant of 44 million Mauritius rupees for building a multi purpose hall and a scholarship for 10 students.

71. The Russian based company Sberbank launched its own Al chatbot " GigaChat " to compete with OpenAI's ChatGPT.

72. BharatPe , a fintech in the payment space, has acquired a 51% stake in Mumbai- based Trillionloans Fintech Private Limited, a non banking financial company (NBFC).

73. Vantika Agrawal is the new Indian Women No. 3 in Chess and the 11th Indian women to achieve the International Master title.

74. India has participated in the inaugural edition of the ASEAN - India Maritime Exercise with its two frontline warships - INS Satpura and INS Delhi . 

The harbor phase of the exercise is scheduled to be held at the Changi Naval Base (Singapore) from May 2 to 4 while the sea phase will be conducted from May 7 to 8 in the South China Sea.

75. Mahatma Gandhi's 5th Grandson Arun Manilal Gandhi, the 89 year old author and socio-political activist, passed away at Kolhapur in Maharashtra.

Books of Arun Manilal Gandhi :

" Kasturba : A Life " (2000) , " The Forgotten Woman : The Untold Story of Kasturba Gandhi, Wife of Mahatma Gandhi (2016) and " The Gift : Ten spiritual lessons for the modern world from My Grandfather, Mahatma Gandhi " (2018).

76. Cashfree Payments have partnered with Yes Bank to offer 'Global Collections' an international collection service for Indian exporters with Yes Bank account, to simplify the way Indian exporters receive payments from across the world.

- The partnership will enable the Yes Bank account holders to collect payments in over 30 foreign currencies using the Global Collections service.

- It also enables global collections in over 30 foreign currencies up to the equivalent of US$ 10,000 in line with the Reserve Bank of India's Online Payment Gateway Service Providers (OPGSP) guidelines

[ YES Bank has collaborated with National E-Governance Services Limited (NeSL) to issue its first electronic Bank Guarantee (e-BG) ].

77. Axis Bank and India Shelter Finance Corporation Ltd (IndiaShelter) have entered into a strategic partnership under the co-lending model to offer secured MSME (Micro, Small and Medium Enterprises) loans to middle and low income borrowers in semi urban areas.

- Axis Bank launched a groundbreaking payment solution called Micropay by Razorpay and MyPinpad in association with technology partners Ezetap.

78. The Ministry of Housing and Urban Affairs (MoHUA) signed a Memorandum of Understanding (MoU) with RITES Limited for technical assistance for Solid Waste Management (SWM) and Used Water Management (UWM) under Swachh Bharat Mission Urban (SBM-U) 2.0 .

79. The Union Ministry of Agriculture Farmers Welfare, Government of India, has set a target of 332 million (3320 lakh) tonnes of production of foodgrains for the 2023-2024 crop year (July 2023 - June 2024).

- MoA&FW's target includes the production of 29.25 MT of pulses, 44 MT of oilseed and 17 MT of millets.

80. Indian Institute of Foreign Trade (IIFT) , New Delhi has celebrated its Diamond Jubilee on its 60th Foundation Day on 3rd May . 

On the occasion, Vice Chancellor of IIFT Prof. Satinder Bhatia released the commemorative issue of Foreign Trade Review (FTR) Journal . The Indian Institute of Foreign Trade (IIFT) was established in 1963 as an autonomous body under the Union Ministry of Commerce Industry to contribute in the skill building for the external trade sector of India .

81. Union Minister Parshottam Rupala Ministry of Fisheries, Animal Husbandry and Dairying, launched a Veterinary Council of India portal at Vigyan Bhawan, New Delhi .

82. According to the latest report released by global media watchdog Reporters Without Borders (RSF) India's ranking in the 2023 World Press Freedom Index has slipped to 161 out of 180 countries . In the year 2021, India ranked 142 on the press freedom index which came down to 150 last year.

- The top five countries with the highest press freedom are - Norway (1st), Ireland (2nd), Denmark (3rd), Sweden (4th) and Finland (5th), with Norway maintaining its lead for the seventh year in a row.

- The bottom three countries with the lowest press freedom are all from Asia - Vietnam (178th), China (179th) and North Korea (180th).

83. Australia's flagship carrier, Qantas has named its finance chief Vanessa Hudson as its new chief executive officer (CEO) , making her the first woman to lead the airline.

84. An economist from Paraguay's ruling conservative Colorado party Santiago Peña won the country's presidential election.

85. Anuj Tyagi, Deputy Managing Director (DMD) of HDFC ERGO, has been promoted as Joint Managing Director (MD) of HDFC ERGO General Insurance Company Limited.

86. The Competition Commission of India (CCI) approves the acquisition of the shareholding of Tower Vision India Private Limited (Tower Vision) by Ascend Telecom Infrastructure Private Limited and GIP EM Ascend 2 Pte. Ltd (GIP EM)

[ The Proposed Combination is being notified under Section 6(2) read with Section 5 of the Competition Act, 2002 (as amended) ].

- The CCI also approves acquisition by Sanjay Chamria of certain equity shares of Jaguar Advisory Services Private Limited (Jaguar), resulting in an indirect acquisition of certain equity shares of Magma HDI General Insurance Company Limited (Magma HDI).

87. Andhra Pradesh CM YS Jagan Mohan Reddy laid the foundation stone for Rs. 4,592 crore International Greenfield Airport at Bhogapuram village in Vizianagaram district, AP.

- AP CM YS Jagan Mohan Reddy also inaugurated multiple projects on 3rd May 2023, including 

(i) A Rs 4,592 crore International Greenfield Airport at Bhogapuram village in Vizianagaram district, AP.

(ii) The foundation stone for the Rs 194 crore Taraka Rama Sagaram project in Vizianagaram district of AP.

(iii) The foundation stone for the Rs 24 crore Chintapalli Fish Landing Centre in Vizianagaram district of AP.

88. American track and field athlete Tori Bowie, who won 3 medals in the Olympic Games, passed away in Horizon West, Florida, United States of America . 

Tori Bowie began her professional track and field career in 2013 and made her international debut at World Indoor Championships in Sopot in 2014 in Long Jump . She won her 1st major international medal (Bronze) in a 100 meter at the 2015 World Championships in Beijing, China.

News360 - 6th , 7th and 8th May , 2023 | Daily Current Affairs

 National and International News :

1. Union Govt Constitutes 11-member Committee to Restructure 94-years-old ICAR

An 11-member high-level committee has been established by the Union Government, chaired by the Additional Secretary of the Department of Agricultural Research and Education and Secretary of Indian Council of Agricultural Research (ICAR), to restructure the 94-year-old ICAR in order to achieve the objectives of Amrit Kal. Amrit Kal refers to the next 25 years, during which India aims to fulfill the aspirations of its youth, attain self-reliance, and achieve economic stability. The committee was established on April 24, 2023, and is expected to submit its report within 30 days.

About Indian Council of Agricultural Research (ICAR) :

It was formed on July 16, 1929 under the name Imperial Council of Agricultural Research. Currently there are 111 institutes and 71 agricultural universities under it. It is counted among the largest national agricultural systems in the world.

2. Ex Agni Daman - 23 : Civil - Military Agencies Combat Fire Together

The Ministry of Defence (MoD) under the aegis of Headquarter Southern Command, Pune (Maharashtra) conducted a mutual firefighting exercise named 'Agni Daman-23' at 29 Field Ammunition Depot, Dehu Road to raise awareness and train men on firefighting. The exercise aimed to showcase the teamwork of all firefighting resources available with the Military and Civil establishment in Pune.

- A total of 56 firefighting columns participated in the exercise, including 32 from civil agencies such as the National Disaster Relief Force (NDRF), State Disaster Relief Force (SDRF), Fire Department Pimpri Chinchwad, Nagar Parishad Chakan, Tata Motors Ltd, Mahindra Vehicle Ltd, Bajaj Auto, among others.

- The exercise included drills and procedures rehearsed in a coordinated manner, including swift response strategy against all types of fire. It empowered combatant manpower, including central/state agencies, to coordinate firefighting efforts and provide maximum aid to save lives and valuable assets in affected areas.

3. Campaign launched to provide KCC to all eligible farmers engaged in FAHD

To provide Kisan Credit Card (KCC) facility to all eligible farmers engaged in Animal Husbandry, Dairy and Fishery (AHDF) activities, Parshottam Rupala, Union Minister for Fisheries, Animal husbandry and Dairying (FAHD) launched the nationwide AHDF KCC Campaign for 2023-24 on May 3rd 2023. The campaign is part of Aazadi Ka Amrit Mahostav.

- The Department of Animal Husbandry and Dairying, in collaboration with the Department of Fisheries (DOF) and the Department of Financial Services (DFS), is organising the Nationwide AHDF KCC Campaign from 1st May 2023 to 31st March, 2024. 

- The aim of the campaign is to improve the income of the farmers by reducing the financial uncertainties faced by them through the KCC facility. DFS issued the detailed guidelines for organising the campaign to banks and state governments in March 2023.

- As a result of the campaign, more than 27 lakh new KCC have been issued to Animal Husbandry and Fishery Farmers. The scheme offers an organisational credit facility to the farmers to meet their working capital requirements for their activities.

Note :

About KCC Scheme :

KCC Scheme aims to provide sufficient and timely credit support from the banking system under a single window with simplified and flexible procedures to the farmers.

- The purpose of the scheme is to meet the limited credit requirements for cultivation of crops, post-harvest expenses, working capital for maintenance of farm assets and all the activities associated with agriculture and investment credit requirements for agriculture and associated activities.

4. Union Minister Nityanad Rai inaugurated Dawki land port in Meghalaya

The Dawki land port in Meghalaya was inaugurated by the Union Minister of State for Home Affairs Nityanand Rai on May 4, 2023, with the presence of the state Deputy Chief Minister Preston Tynsong and other senior officials . The land port is spread over 23 acres and is connected by an all-weather road to Shillong, the capital city of Meghalaya. 

- The land port aims to boost trade, commerce and tourism between India and Bangladesh . The corresponding land port in Bangladesh is Tamabil in Sylhet district.

Key notes :

(i) "The Dawki land port is a well-equipped facility with various amenities such as a warehouse, a cafeteria, a tourist cargo and an electric substation. It is located in the West Jaintia Hills district of Meghalaya, along the international border between India and Bangladesh. It will enhance the trade and tourism activities between the two countries and will improve the cross-border mobility of goods, people and vehicles."

(ii) It will also promote passenger movement across the border.

5. President Murmu visits Odisha, launched Addiction Free Odisha” Campaign in Mayurbhanj

During her three-day visit to Odisha from 4th to 6th May 2023, the President of India, Droupadi Murmu, launched the "Addiction Free Odisha" campaign of the Brahma Kumaris Centre at Hatbadra, Mayurbhanj. She emphasized that addiction is a disorder that inflicts social, economic, physical, and mental damage, and that the Brahma Kumaris Centre is dedicated to promoting a healthy society through spirituality.

- On 4th May 2023, President Droupadi Murmu laid the foundation stones for the Skill Training Hub and Community Centre at Pahadpur in Mayurbhanj. The following day, on 5th May 2023, she paid tribute to Pandit Raghunath Murmu on his birth anniversary and also visited the Similipal Sanctuary in Mayurbhanj.

- On 6th May 2023, President Murmu will attend the 12th convocation of Maharaja Sriram Chandra Bhanja Deo University in Baripada.

6. Union Minister Mansukh Mandaviya reviews ‘Food Street Project’ to develop 100 Healthy and Hygienic Food Streets across India

Dr Mansukh Mandaviya, Union Minister of Health and Family Welfare (MoHFW), chaired a meeting with senior officials of MoHFW and the Food Safety and Standards Authority of India (FSSAI) to review the "Food Street Project." The initiative aims to establish 100 hygienic food streets across India to promote safe and healthy food practices, reduce foodborne illnesses, and improve overall health outcomes.

- The project will be implemented by the National Health Mission (NHM) in collaboration with the Ministry of Housing and Urban Affairs (MoHUA) and FSSAI's technical support. NHM will provide Rs. 1 crore to each food street as a pilot project to support the establishment of 100 food streets in different parts of the country.

- The funding will cover the provision of safe drinking water, handwashing stations, restrooms, and suitable liquid and solid waste disposal. The initiative will be certified under the Clean Street Food Hub program of the Eat Right India movement.

7. Union Minister for MSME Narayan Rane launched the IHD platform in Health Sector

The India Health Dialogue (IHD) platform was launched by the Union Minister for the Ministry of Micro, Small & Medium Enterprises (MSME), Narayan Rane, on May 3rd, 2023, in New Delhi. The platform aims to strengthen MSMEs in the healthcare sector and promote the development of healthcare exports, with the ultimate goal of making India a global manufacturing hub and self-reliant in healthcare. The healthcare sector has been identified as a target sector for significant improvements and is collaborating with IHD to encourage advanced manufacturing capabilities among MSMEs in order to achieve a self-reliant India and reduce medical imports.

Important :

(i) IHD is a global initiative by India Chamber of Business and Commerce, in partnership with Indian Council of Medical Research (ICMR), Indian Medical Association (IMA) and Ministry of MSME, Government of India. It aims to create a robust ecosystem for reforming the future health and health care sector.

- IHD is an integrated platform that facilitates changes and supports self-reliance in the healthcare sector.

- India is striving to be self-reliant, and the advanced technologies and innovations will transform every aspect of health in India.

(ii) Advantages :

- By increasing domestic production and reducing imports, the government can save on the high import costs.

- This also creates a chance for the state governments to meet their needs locally by producing and using the goods they require in their own states. "

8. Dr Chintan Vaishnav & Durga Jasraj launches “UPAJ: A Festival of Innovations in Arts”

Dr Chintan Vaishnav, Chair of Startup20, G20(Group of 20) along with Durga Jasraj, founder of Pandit Jasraj Cultural Foundation, launched the “UPAJ : A Festival of Innovations in Arts” during the event held in the National Institution for Transforming India (NITI) Aayog, New Delhi, Delhi.

- The event was a part of the World Intellectual Property (IP) Day 2023 (26th April 2023) celebration organised by the Office of the Controller General of Patents, Designs, and Trademarks.

- The UPAJ festival is scheduled for the 1st week of July 2023, the same week as the G20 Startup20 summit.

9. Tamil Nadu Food Department opens Portal and App for grievances

The Health Minister of Tamil Nadu (TN), Ma Subramanian, launched a mobile app and website of the Food Safety Department for grievances at an event held in Chennai.

- The mobile app is called the ‘TN Food Safety Consumer App‘, and the website can be accessed at www.foodsafety.tn.gov.in.

- Consumers can use the app and website to find information on safe food and other related details.

- The website provides information about the Food Safety Department’s activities, banned items, Acts governing food safety, and licences.

- The website can be accessed in both Tamil and English languages and has a screen reader facility for ease of access for differently-abled individuals.

Key notes :

(i) Consumers can also lodge complaints with the Food Safety Department in the following ways -

Mobile app : TN Food Safety Consumer  ;  Website : foodsafety.tn.gov.in  ;  Email : unavupukar@gmail.com  ;  WhatsApp : 9444042322

(ii) Short films to create awareness on reused oil and food fortification are being popularised on social media.

(iii) The Food Safety Department had also confiscated 16,209 kg of fruits, worth around Rs 9.2 lakh, that had been ripened through harmful artificial methods.

10. Andhra Pradesh CM YS Jagan Mohan Reddy lays Foundation Stone for Rs 21,844 Crore Vizag Tech Park

The Chief Minister of Andhra Pradesh (AP), YS Jagan Mohan Reddy, laid the foundation stone of the Vizag Tech Park Limited (VTPL) on May 3rd, 2023. The park is a subsidiary of the Adani Group company and is worth Rs 21,844 crore. The VTPL is aimed to house 300 MW data centres and will be the first data park in India.

- The event was attended by the Managing Director of Adani Group, Rajesh Adani and the Chief Executive Officer (CEO) of Adani Group, Karan Adani.

The 300 MW data centres would facilitate the laying of a submarine cable from Singapore and help change the future dynamics of broadband services.

- The Vizag Tech Park (coming up in an area of 190.29 -acres) would consist of :

(i) A 200 MW Integrated Data Centre (130 acres) at Madhurawada, Visakhapatnam, AP, with an investment of Rs 14,634 crore.

(ii) A 100 MW Integrated Data Centre (60.29 acres) at Kapuluppada, AP, with an investment of Rs 7,210 crore.

- According to the CM statement, the VTPL would provide direct employment to 39,815 people in a phased manner over 7 years and indirect employment to 10,610 more.

11. Justice T.S. Sivagnanam appointed as the CJ of the Calcutta High Court

Justice T.S. Sivagnanam, the senior-most judge of the Calcutta High Court, has been appointed as the Chief Justice (CJ) of the Calcutta High Court by the Department of Justice, Ministry of Law and Justice. He is currently serving as the Acting Chief Justice of the High Court. The Supreme Court Collegium (SCC) had recommended Justice T.S. Sivagnanam for the position of CJ of the Calcutta High Court on 9th February 2023.

- Born on 16 September 1963, Justice T.S. Sivagnanam started his legal practice in September 1986. He was appointed as an additional judge of the Madras High Court on March 31, 2009, and was made a permanent judge on March 29, 2011. In October 2021, he was transferred to the Calcutta High Court, where he has been serving since then. He is scheduled to retire on September 15, 2025.

12. CM YS Jagan Mohan Reddy lays Foundation for Rs 4,592 Crore Bhogapuram Airport

AP CM YS Jagan Mohan Reddy inaugurated multiple projects on 3rd May 2023, including :

- A Rs 4,592 crore International Greenfield Airport at Bhogapuram village in Vizianagaram district, AP.

- The foundation stone for the Rs 194 crore Taraka Rama Sagaram project in Vizianagaram district of AP.

- The foundation stone for the Rs 24 crore Chintapalli Fish Landing Centre in Vizianagaram district of AP.

Key notes :

(i) The Bhogapuram Airport is designed to serve initially 40 lakh people and then expand to 4 crores, and it will become the hub for the districts of Visakhapatnam, Vizianagaram, and Srikakulam in North AP.

(ii) Within four months, a 60-kilometre long 6-lane motorway will be constructed between Visakhapatnam and Bhogapuram.

(iii) All necessary approvals, including NOCs, and resolution verdict from the National Green Tribunal and courts, have been obtained. The land acquisition and tender process are now complete.

(iv) The Andhra Pradesh Airports Development Corporation (APADCL) has signed a PPP agreement with the GMR group to build the airport.

13. Santiago Peña elected as the next President of Paraguay

Santiago Peña, a former IMF economist and the candidate of the ruling Colorado Party, emerged as the winner of the 2023 Paraguay presidential election. He received about 43% of the votes, while his main rival, Efraín Alegre of the centre-left coalition, got about 28%. 

- Peña will succeed Mario Abdo Benítez, who has been the president of Paraguay since 2018. Peña will be sworn in as the 52nd president of Paraguay on August 15, 2023. He will be the youngest president of Paraguay in the democratic era.

14. Dhruva Space successfully tests its Satellite Orbital Deployers & Orbital Link

Dhruva Space Private Limited has announced on 3rd May 2023 that it has successfully tested and space-qualified its 2 satellite orbital deployers, namely, the 3U Satellite Orbital Deployer (DSOD-3U) and 6U Satellite Orbital Deployer (DSOD-6U), along with its orbital link, the Dhruva Space Orbital Link (DSOL). These were launched aboard Indian Space Research Organisation’s (ISRO) PSLV-C55 mission. 

- The PSLV Orbital Experimental Module-2 (POEM-2), which was launched as a part of the PSLV-C55 mission, was used by Dhurva Space's payload. This module enables the conduct of scientific experiments in orbit using the spent PS4 stage as an orbital platform. The PSLV-C55 mission was launched on 22nd April 2023 from the first launch pad at Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh.

-  Additional Info :

(i) The DSOD-3U is an extension of the DSOD-1U, which was successfully tested in June 2022 on ISRO's PSLV-C53 and was used to deploy the two Thybolt nanosats in 2022. The DSOD-6U was tested for storage and delayed deployment of CubeSats in LEO (Lower Earth Orbits) or higher orbits. The satellite orbital deployers are mechanical casings in which CubeSats, nano satellites with dimensions of 10 cm x 10 cm x 10 cm, sit when a launch takes place.

(ii) The programme also introduced DSOL, a configurable transceiver designed for telemetry, telecommand and control, and payload data download with high data rates. The reception of DSOL was confirmed from the ISRO Telemetry Tracking & Command Network (ISTRAC) Port Blair ground station. The successful launch of these satellite orbital deployers and orbital link signifies a major achievement for Dhruva Space in the field of space technology.

Banking and Finance News :

1. Cashfree Payments, YES Bank Partners to offer International payment collection service to Indian exporters

Cashfree Payments has teamed up with Yes Bank to introduce "Global Collections," an international payment service for Indian exporters with Yes Bank accounts, in May 2023. The service aims to simplify the way Indian exporters receive payments from all over the world. With the partnership, Yes Bank account holders can collect payments in over 30 foreign currencies using the Global Collections service. Once they receive the payments, they can convert them into rupees and transfer them to their local bank account in India within one business day.

The payments service will include dedicated facilities in four currencies USD(United States dollar),  GBP(Pound Sterling), EUR (euro) and CAD(Canadian dollar).

- It also enables global collections in over 30 foreign currencies up to the equivalent of US$10,000 in line with the Reserve Bank of India’s (RBI’s) Online Payment Gateway Service Providers (OPGSP) guidelines.

- The Global Collections will enable the exporters to have real-time access and control over their payments and collections journey.

- The exporters could share their payment collection details with their buyers over email, SMS or WhatsApp. The buyers could make payments using local rails like Automated Clearing House (ACH), Single Euro  Payments Area (SEPA), etc. Exporters will receive their settlements in INR (Indian Rupee) in their local bank accounts in India. Further, they will also get digital Foreign Inward Remittances Advice (e-FIRA) within 24 hours.

2. Axis Bank, IndiaShelter Enters Co-lending Partnership to Offer MSME Loans

Axis Bank, the third largest private sector bank in India, has joined forces with India Shelter Finance Corporation Ltd (IndiaShelter), a housing finance company based in Gurgaon, Haryana, under the co-lending model. They will provide secured loans for Micro, Small, and Medium Enterprises (MSMEs) to low and middle-income borrowers in semi-urban areas.

- The partnership with IndiaShelter aligns with Axis Bank's Bharat Banking mission, which aims to expand its reach to remote regions and offer financial services in a smooth digital manner.

- Under the partnership, Axis Bank will leverage its financial expertise and IndiaShelter will provide its loan processing technology to assess borrowers’ credit profiles and offer loans at an optimal interest rate, ensuring a seamless banking experience.

- The digital co-lending platform of Axis Bank will offer a superior customer experience.

- IndiaShelter would support first-generation semi-urban families to get access to credit through its well-established Phygital Model.

3. HDFC ERGO General Insurance elevates Anuj Tyagi to Joint Managing Director

Anuj Tyagi, who currently serves as the Deputy Managing Director (DMD) of HDFC ERGO, has been promoted to the position of Joint Managing Director (MD) of HDFC ERGO General Insurance Company Limited. The decision to elevate him was approved during the meeting held by the Nomination & Remuneration Committee and Board of Directors of HDFC ERGO General Insurance on 27th April 2023 in Mumbai, Maharashtra.

- With about 22 years of experience in insurance and banking, Anuj Tyagi has been associated with HDFC ERGO for the past 14 years since 2008 and has made significant contributions to the company's success. 

- He was appointed as a Whole-time Director (designated as Executive Director (ED) & Chief Business Officer (CBO)) of HDFC ERGO General Insurance in 2016 for a period of 5 years, and was reappointed as the ED & CBO in 2020 for another 5-year term. In 2021, he was re-designated as the DMD.

4. RBI, BISIH Jointly Launches G20 TechSprint 2023; RBI Updates KYC instructions on Wire Transfers

The Reserve Bank of India (RBI) and the BIS Innovation Hub (BISIH) of the Bank for International Settlements (BIS) have launched the 4th edition of the G20 TechSprint 2023 on May 4, 2023, under India’s G20 presidency. The global technology hackathon is aimed at promoting innovative solutions for 'Transforming cross-border payments.'

Here are the key details of the event :

- The competition is open to developers worldwide to submit their applications between May 4, 2023, and June 4, 2023.

- The hackathon will conclude in Q3 2023, around August/September 2023.

- The aim of the event is to showcase how technology solutions could address illicit financing risks, provide settlement solutions in other currencies, and achieve interoperability in multi-lateral Central Bank Digital Currency (CBDC) platforms.

- The 2023 TechSprint will focus on three problem statements on cross-border payments. 

The first one was Anti Money Laundering (AML)/CFT (Combating the Financing of Terrorism)/Sanctions technology solutions to reduce illicit finance risk. Second aspect was covering Foreign exchange (FX) and liquidity technology solutions to enable settlement in emerging markets and developing economy (EMDE) currencies. Final statement deals with the technology solutions for multilateral cross-border CBDC platforms.

- The participants who are registering for the G20 TechSprit 2023 will submit technological solutions to one or more problem statements.

The Shortlisted teams will be invited to develop their solutions over a six-week period and each team will be eligible for a stipend of Rs 8 lakh (~ USD 10,000). An independent panel of experts will select the most promising solution to each problem statement from the shortlisted solutions, to be announced at a final event in August/ September 2023.

- The winners for each problem statement will receive an award of Rs 40 lakh (~USD 50,000).

Note : The previous three successful editions of the TechSprint are conducted in 2020, 2021 and 2022 in the areas of regulatory compliance (RegTech) and supervision (SupTech), Green and Sustainable finance, and CBDCs.

5. RBI updates KYC instructions on wire transfers

RBI, on May 4, 2023, revised its instructions on wire transfers in the Master Direction (MD) on Know Your Customer (KYC) and brought them in line with the relevant recommendation of the Financial Action Task Force (FATF). The updated instructions require all banks and financial institutions in India to ensure complete information about the originator and beneficiary is provided in all wire transfers, including domestic and international transfers, to prevent them from being used for money laundering and terrorist financing activities. 

- Some of the key updates related to wire transfers are :

(i) Domestic wire transfers initiated by an account holder of the ordering Regulated Entities (RE) should be accompanied by the originator and beneficiary information, as required for cross-border wire transfers.

(ii) Domestic wire transfers of Rs 50,000 and above initiated by non-account holders of the ordering RE should also include the originator and beneficiary information as required for cross-border wire transfers.

(iii) RBI has directed the REs to provide all information related to wire transfers to appropriate law enforcement and/or prosecutorial authorities, as well as FIU-IND (Financial Intelligence Unit – India), upon receiving requests supported by appropriate legal provisions.

Key notes :

(i) ‘Ordering RE’ refers to the financial institution which initiates the wire transfer and transfers the funds on behalf of the originator.

(ii) The wire transfer instructions are not intended to cover any transaction carried out using a credit card/debit card / Prepaid Payment Instrument (PPI) for the purchase of goods or services.

6. Capital SFB Partners with Max Life Insurance to Offer Life Insurance Solutions

Capital Small Finance Bank (SFB), India’s 1st SFB, and Max Life Insurance Company Limited entered into a partnership to offer life insurance offerings to Capital SFB’s customers.

- Under the partnership, Capital SFB will offer a range of savings, protection, retirement, and group life insurance plans of Max Life to its customers. This partnership is a part of Capital SFB’s continual efforts to assist its customers in achieving a stable financial future.

- Capital SFB operated as a local area bank before conversion, and it focuses on the middle-income group customer segment, with a special focus on rural and semi-urban areas, via an optimum ‘phygital’ distribution of their products and services.

- The Capital SFB’s partnership with Max Life will enable the bank’s customers across branches and other partnership channels, to access and avail of innovative, flexible and varied life insurance products.

7. India, Russia Agreed to Explore RuPay and Mir cards for Easy Payments

During the recent high-level Internal Governmental Commission meeting on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC), India and Russia agreed to explore the potential of accepting each other's payment cards to enable seamless transactions. Co-chaired by India's External Affairs Minister S Jaishankar and Russia's Deputy Prime Minister Denis Manturov, the meeting saw discussions on the acceptance of RuPay (India) and Mir cards (Russia) in each other's country, which will allow for easy payments in Indian rupees and Russian rubles for their respective citizens.

-  Apart from this, both nations also agreed to investigate the possibility of interoperability between their payment systems. India's National Payment Corporation of India (NPCI) and Russia's Bank of Russia's Faster Payments System (FPS) will be studied for integration. Furthermore, India expressed its interest in adopting Russia's Services Bureau of Financial Messaging System for cross-border payments.

8. Vishesh : HDFC Bank launches programme for customers in semi-urban and rural

The HDFC Bank has launched a retail banking program called 'Vishesh' on May 4, 2023, specifically designed for customers residing in semi-urban and rural (SURU) areas. Under this initiative, the bank aims to establish over 675 branches in these areas during FY24, catering to around 1 lakh new customers, and offering tailored products and financial solutions for this market segment. Moreover, the program is expected to help the bank achieve some of its Priority Sector Lending (PSL) targets.

Important :

(i) The 'Vishesh' program launched by HDFC Bank will cater to 5 important segments - farmers, merchants, micro enterprises, and government salaried individuals in semi-urban and rural geographies.

(ii) The program offers a range of features such as a dedicated personal banker, the option to extend the facility to 8 family members, discounts on processing fees for loans related to gold, construction equipment, tractors, personal, business, auto, and two-wheelers. Additionally, customers can avail themselves of daily Hospicash benefits, an annual preventive health check-up of up to Rs 3,000, a complimentary annual cashless health check-up, unlimited telehealth consultation, and agritech services.

(iii) The program includes a customer engagement model to acknowledge the growth and progress of villages. This will involve felicitating rural seniors such as sarpanches, teachers, and key officials.

Other News :

1. Doha Diamond League 2023 : Neeraj Chopra wins Gold with 88.67m throw

Neeraj Chopra, India's javelin thrower, clinched the gold medal at the Doha Diamond League 2023 by throwing a distance of 88.67m, surpassing Jakub Vadlejch of the Czech Republic who threw at 88.63m. The event was held on May 5, 2023, at Suhaim bin Hamad Stadium in Doha, Qatar.

- This marked Chopra's fourth career-best effort, despite his personal best being 89.94m. It was his second victory in a Diamond League Meeting, having previously won the 2022 Lausanne meet in Switzerland, making him the first Indian to do so.

2. US Sprinter & 3 Time Olympic Medalist Tori Bowie Passed Away

On May 2nd, 2023, Tori Bowie, an American track and field athlete, passed away in Horizon West, Florida at the age of 32.

- Tori Bowie was born on August 27, 1990, in Sand Hill, Rankin County, Mississippi, USA. She began her professional track and field career in 2013 and made her international debut at World Indoor Championships in Sopot in 2014 in Long Jump.

- She competed in long jumping at the Adidas Grand Prix (2013) and Hercules meets (2013) as well as the IAAF Diamond League circuit (2014). Tori Bowie switched from long jump to sprints in 2014 and won the bronze medal in the 100-meter dash at the 2014 USA Outdoor Track and Field Championships.

- She won her first major international medal (bronze) in a 100-meter at the 2015 World Championships in Beijing, China. She won three medals at the 2016 Rio Olympics, including gold in the 4x100m relay, silver in the 100m event, and bronze in the 200m event. Tori Bowie won gold medals in the 100-meter dash and the 4×100 meter relay at the 2017 World Athletics Championships in London, United Kingdom.

- Her last major international competition was the World Athletics Championships in 2019 in Doha, Qatar, where she finished 4th in the long jump. Her last official competition was in June 2022.

3. International Day of the Midwife - 5th May, 2023

The global community of midwives is celebrated every year on 5th May, the International Day of the Midwife (IDM). This day recognises the vital role of midwives in improving the health outcomes of women and newborns during pregnancy, birth and beyond.

- The IDM 2023 theme is “Together again: from evidence to reality”.

- This theme is selected by the International Confederation of Midwives (ICM), a non-governmental organisation that represents midwives and midwifery worldwide.

About the International Confederation of Midwives (ICM) :

President : Dr Franka Cadée

Headquarters : the Hague, the Netherlands

4. African World Heritage Day 2023 - 5th May

On May 5 every year, the world celebrates African World Heritage Day to highlight the significance of protecting the rich and diverse heritage of Africa. The celebration of African World Heritage Day 2023 was held on 5th May 2023. The event was organized by UNESCO in partnership with the African World Heritage Fund (AWHF) and other stakeholders.

- The main objective of UNESCO is to foster more collaboration for the conservation of African heritage at different levels, from local to global. It also aims to engage the youth in this endeavor.

-  African Heritage Site :

UNESCO has designated 147 World Heritage Sites in Africa. These sites are located in 46 countries.

Victoria Falls (Zambia/Zimbabwe); Serengeti National Park (Tanzania); Great Lakes (Kenya); Kilimanjaro National Park (Tanzania); iSimangaliso Wetland Park (South Africa) are some of the major Heritage sites in Africa.

-  Events 2023 :

On May 5 , 2023 , UNESCO conducted the round table conference for African World Heritage Day on "Our Natural Cultural Heritage at the Service of an African without Borders ".

The organisation also celebrated Africa’s unique and diverse heritage by screening "Christiansborg Castle", holding a panel discussion, and more.

5. World Hand Hygiene Day 2023 – 5th May

World Hand Hygiene Day (WHHD) is a global healthcare event observed on 5th May to raise awareness and spread the importance of handwashing to prevent the spread of infections. The day also aims to unite people together to support hand hygiene improvement around the world.

- The campaign slogan for WHHD 2023 is “ Accelerate action together. SAVE LIVES – Clean Your Hands”

- The campaign theme/theme of WHHD 2023 is “ Together, we can accelerate action to prevent infections and antimicrobial resistance in health care and build a culture of safety and quality in which hand hygiene improvement is given high priority.

- The annual observance of the WHHD is led by the World Health Organization (WHO).