Current Affairs July 14th 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

Government allowed Non Resident Indians as nominees in Small Savings Schemes

• According to the Ministry of Finance (MoF) notification, a non-resident Indian (NRI) can now be made a nominee for government saving schemes such as Public Provident Fund (PPF), National Saving Certificate (NSC) and post offices savings.
• Besides, the government permitted applicants to make changes to their names or surnames.
• These changes are part of a list of amendments to the Government Savings Promotion General Rules, as notified by the Finance Ministry.

Key Highlights :

• The rules cover various schemes provided under Government Savings Promotion Act, 1873 such as Public Provident Fund (PPF), National Saving Certificate (NSC), Sukanya Samriddhi Yojana (SSY), Senior Citizens Savings Scheme (SCSS), Mahila Samman Nidhi Post Office Time Deposits, Kisan Vikas Patra (KVP), and Post Office Monthly Income Scheme.

Relief for NRIs :

• NRIs are not allowed to invest in small saving schemes.
• There were also issues related to their nomination.
• The new rule indicates that the money needs to be utilised in India.

Changes to name/surname :

• Another amendment seeks to facilitate the account holder to change name or surname.
• This will be allowed by the account office by following the “procedure laid down by Reserve Bank of India (RBI) for change of name or surname in Bank Savings Account.”
• If one needs to make a change in the name or surname, he/she can request only after receiving the legal affidavit document to prove that the name has been changed legally.
• The name correction application can be written just like an application for a bank statement or other formal letters to the bank.

Conversion of account :

• According to previous rules, an account opened as a Single Account cannot be subsequently converted into a Joint Account or vice versa.
• Now a provision has been added to allow for the conversion of a joint account into a single account on account of the death of an account holder.

Accounts on the names of minors :

• An amendment has also been done related to accounts of minors.
• At present, an adult can open an account on behalf of the minor by submitting proof of age of minor.
• There is a provision for submission of passport size photographs of the account holder.
• The latest rule says that only the recent passport size photograph of the guardian needs to be submitted.

Death of Depositor :

• Norms related to payments on account of death of a depositor have also been changed.
• If the total amount is up to ₹5 lakh and there is no nominee and the probate of his will or letters of administration of estate or a succession certificate or legal heir certificate is not produced within 6 months from the date, then the rightful claimant will be required to fill Form11.
• If the amount is more than ₹5 lakh, the payment will be made on the basis of will or letter of succession along with other documents.

Citi Commercial Bank launched new digital client platform – CitiDirect Commercial Banking

• Citi Commercial Bank (CCB) has launched a digital client platform called CitiDirect Commercial Banking in the United States of America (USA) for its commercial bank customers, bringing together all of its products and services in one place.
• CitiDirect Commercial Banking promises to provide clients with a 360° consolidated view of their relationship across Cash, Loans, Trade, Foreign Exchange (FX), Servicing and
• The platform is currently live in the U.S., with over two thirds of United States (US) client base actively using the platform, and CCB plans to pilot it in the second half of 2023 across Hong Kong, India, Singapore, and the United Kingdom (UK).
• The platform has been created in close collaboration with CCB clients, and as a result offers an intuitive and seamless digital experience.
• Key features include access to data driven insights necessary to help inform decision making, efficient management of day-to-day banking interactions with Citi in one place.

About Citi Commercial Bank :

• Headquarters : New York, United States of America
• Global Head : Tasnim Ghiawadwala

RBI rejects 3 applications for small finance bank licenses

• The Reserve Bank of India (RBI) has rejected applications received from Cosmea Financial Holdings, West End Housing Finance and Akhil Kumar Gupta to start small finance banks (SFB) in the private sector.
• These applications were found not suitable for granting of in-principle approval to set up small finance banks.
• RBI had received about a dozen applications to set up banks under the guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks (SFBs).
• In May,2022 it announced the decisions on 6 applications.

Key Highlights :

• According to RBI, the examination of 3 more applications for setting up a small finance bank have been completed as per the procedure laid down under extant guidelines.
• The RBI also stated that the remaining applications are under examination.
• The guidelines for ‘on tap’ licensing of Universal Banks and SFBs in the private sector were issued on August 1, 2016, and December 5, 2019,
• As per the guidelines, the initial minimum paid-up voting equity capital for a universal bank should be Rs 500 crore.
• The minimum paid-up voting capital/net worth for SFBs should be Rs 200 crore.
• In case of urban co-operative banks desirous of voluntarily transiting into SFBs, the initial requirement of net worth is Rs 100 crore, which will have to be increased to Rs 200 crore within 5 years.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Swaminathan Janakiraman, Michael Patra, M. Rajeshwar Rao, T Rabi Sankar

About SFB :

• Banks with a small finance bank (SFB) licence can provide basic banking service of acceptance of deposits and lending.

Aim :

• To provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
• It is regulated by RBI under Banking Regulations Act, 1949; RBI Act, 1934.

24 Central Banks to have Digital Currencies by 2030 – BIS survey                                    

• According to a survey by the Bank for International Settlements (BIS), by 2030, 24 central banks are expected to have digital currencies in circulation.
• This includes up to 15 retail and 9 wholesale central bank digital currencies (CBDC).
• In total, the share of central banks that said they were engaged in some form of CBDC-related work rose to 93%.

Key Highlights :

• The survey was conducted from October to December 2022 and covered 86 central banks worldwide.
• Most of the new CBDCs will emerge in the retail space, where 11 central banks could join peers in the Bahamas, the Eastern Caribbean, Jamaica and Nigeria which already run live digital retail currencies, the BIS found in its survey of 86 central banks conducted late 2022
• On the wholesale side, which in future could allow financial institutions to access new functionalities thanks to tokenization, 9 central banks could launch CBDCs.
• Geo Economically, nations within emerging markets and developing economies are leading CBDC adoption.
• Their share in piloting the retail (29%) and wholesale (16%) CBDCs almost doubles that of advanced economies, which stands at 18% and 10%, respectively.

About Bank for International Settlements :

• Established : 17 May 1930
• Headquarters: Basel, Switzerland
• Chair: François Villeroy de Galhau, Paris.
• General Manager : Agustín Carstens
• The BIS is an international financial institution which is owned by member central banks.

Primary goal :

• To foster international monetary and financial cooperation while serving as a bank for central banks.

CURRENT AFFAIRS: NATIONAL NEWS

The foundation stone for three NH projects totaling Rs. 2,900 crore was laid by Shri Nitin Gadkari at Tirupati, Andhra Pradesh:

• Union Minister for Road Transport and Highways Shri Nitin Gadkari laid the foundation stone for 3 NH Projects in the presence of Tirupati, Andhra Pradesh.
• These projects encompass a combined length of 87 kilometers and carry a total cost of Rs 2,900 Crore.
• The first undertaking is the Naidupate-Turpu Kanupur Section of NH-71, spanning 35 Km and requiring an investment of ₹1,399 Crore.
• The second project is the Chillakuru Cross-Krishnapatnam Port South Gate Section via Turpu Kanupur on NH-516W, covering a distance of 36 Km and valued at ₹909 Crore.
• Lastly, the Thamminapatnam-Narikellapalle Section involves an extension of the Dedicated Port Road from Eupuru to Krishnapatnam Port on NH-516W and NH-67, length of 16 Km and valued at ₹610 Crore.

About Andhra Pradesh

• Capital: Amaravati
• Governor: S. Abdul Nazeer
• Chief minister: YS Jagan Mohan Reddy

Recent News

• Union Minister for Road Transport and Highways Nitin Gadkari laid the foundation stone of four national highway projects at Sonepat, Karnal, and Ambala in Haryana. The projects are worth Rs 3,835 crore.
• Union Minister Nitin Gadkari laid the foundation stone for 5 NH projects worth Rs 2,200 crore in the Pratapgarh region and 5 NH projects at a valuation of Rs 6,215 crore in the Deoria district of Uttar Pradesh,

Hero Asian Champions Trophy 2023 trophy unveiled by Minister of Sports and Youth Affairs Shri Anurag Singh Thakur

• Minister of Youth Affairs and Sports and Minister of Information & Broadcasting, Shri Anurag Thakur unveiled the coveted trophy for Hero Asian Champions Trophy, Chennai 2023at the Major Dhyanchand National Stadium in New Delhi.
• Union Minister also launched the ‘Pass the Ball Trophy Tour’ campaign on the occasion.
• Hero Asian Champions Trophy, Chennai 2023 will begin on August 3rd, 2023 where India, Korea, Malaysia, Japan, Pakistan, and China will vie for the Title.
• The event was also attended by, Hockey India President, Padma Shri Dr. Dilip Kumar Tirkey, Hockey India Secretary General Shri Bhola Nath Singh, Hockey India Treasurer and President of Hockey Unit, and officials from Tamil Nadu (Host State).
• Indian hockey Olympians and players including Harbinder Singh, Ashok Diwan, Zafar Iqbal, Romeo James, MP Singh, HPS Chimani, and Vineet Kumar were also present on the occasion.
• The Asian Champions Trophy, which is produced by acclaimed trophy designer Sanjay Sharma, is handcrafted with care from a harmonious combination of brass, aluminum, and copper that has been elegantly plated with nickel and gold.
• Each crystal adorning the crown, as well as its exquisite design, was custom-made for the prestigious trophy, adding a one-of-a-kind touch to its grandeur.
• The tournament will be held from 3rd August to 12 August 2023 in Chennai, Tamil Nadu with India, Korea, Malaysia, Japan, Pakistan, and China competing for the title, and will be telecast live on Star Sports, Disney +Hotstar.
• It will also be live-streamed on watch hockey for viewing outside of India. Media can apply for accreditation at https://accred.media.dnanetworks.in/Asian-Champions-Trophy/act/app.

CURRENT AFFAIRS : INTERNATIONAL NEWS

British carrier Virgin Atlantic shuts operations in Pakistan

• Virgin Atlantic has ended its operations in Pakistan with the last flight of the British carrier taking off from Islamabad to London’s Heathrow Airport.
• The British airline began its operations at Islamabad airport in December 2020 with 7 weekly flights.
• The airline initially operated 4 flights to Manchester and 3 to Heathrow Airport.
• Later, the airline reduced its services to only 3 weekly flights to Heathrow Airport.
• Virgin Atlantic provided the best air travel services to customers between Islamabad and London.

Recent News :

• In Feb, 2023 Virgin Atlantic announced that it suspended services between London Heathrow and Lahore and Islamabad, Pakistan.

About Virgin Atlantic :

• Established : 1984
• Headquarters : Crawley, England
• CEO : Shai Weiss
• Chairman : Peter Norris
• Virgin Atlantic, a trading name of Virgin Atlantic Airways Limited and Virgin Atlantic International Limited, is a British airline.

CURRENT AFFAIRS : STATE NEWS

Uttar Pradesh government plans to establish micro dairies of Indian cow breeds                          

• The Uttar Pradesh (UP) government is planning to set up micro diaries of Indian cow breeds to promote indigenous industries, crops, and

Aim of the scheme :

• To increase milk production and preserve indigenous cow breeds such as Sahiwal, Tharparkar, and Gir and raise the income of economically weak cattle herders.

Key Highlights :

• The government will provide Rs 40,000 for the purchase of indigenous cow breeds under the Nand Baba Milk Mission, which has the mandate to augment dairy production.
• This subsidy is applicable on the purchase of a maximum of two indigenous cow breeds per cattle owner.
• The financial help will cover the cost of transportation of cattle, transit insurance, and animal insurance.
• In addition, the government will give incentives to indigenous cow rearers under the Mukhyamantri Pragatisheel Pashupalak Protsahan Yojana, subject to a maximum of two cows of the indigenous breed.
• The government has spent a total of about Rs 1,700 crore to provide shelter to over 11 lakh stray cattle, mostly cows.
• Over 900,000 cows were kept in about 6,000 temporary cow shelters in UP, while 280 cow protection centres and Kanha Gaushala housed about 140,000 and 86,000 cows, respectively.
• UP and Rajasthan are the top two milk producers and collectively account for roughly 30% of the total annual milk output in the country.
• Other leading milk producing Indian states include Madhya Pradesh (MP), Gujarat, and Andhra Pradesh (AP).

Recent News :

• In June 2023, The Uttar Pradesh (UP) government implemented the Legal Aid Defence Counsel System (LADCS) for a period of 2 years under the Uttar Pradesh State Legal Services Authority to provide free legal aid to the needy.
• In June 2023, The Geographical Indications Registry in Chennai had given tags to 7 different products (Amroha Dholak, Mahoba Gaura Patthar Hastashlip, Mainpuri Tarkashi, Sambhal Horn Craft, Baghpat Home Furnishings, Barabanki Handloom Product, Kalpi Handmade Paper) from Uttar Pradesh (UP).

About UP :

• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary

Gujarat Chief Minister Bhupendra Patel Launched Pilot Project Of ‘Antyodaya Shramik Suraksha Yojana’  

• Gujarat Chief Minister (CM) Shri Bhupendra Patel and Union Minister of State for Communications Devusinh Chauhan, launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Nadia of Kheda district in Gujarat.

Aim :

• To provide financial stability to workers, offering assistance in the event of accidents or death.
• The scheme, launched on a pilot basis, is being implemented through the Indian Postal Department, the Indian Post Payments Bank, and the Ministry of Labour and Employment.

Note :

• Gujarat became the first state in India to launch a scheme for the welfare of labourers.

About Antyodaya Shramik Suraksha Scheme :

• Antyodaya Shramik Suraksha Scheme is an accident insurance scheme that will provide financial help to labourers and their families in the event of an accident at work.

Benefits of the Scheme :

• Workers can avail benefits for death or partial disability, with premiums ranging from 289 to 499 rupees.
• In case of a worker’s death, their family will receive 10 lakh rupees, while permanent disability due to an accident will make the workers eligible for a sum of 10 lakh rupees.
• Additionally, the scheme includes education assistance of 1 lakh rupees for the children of deceased workers.

About Gujarat :

• Governor: Acharya Devvrat
• Chief minister: Bhupendrabhai Patel
• Capital: Gandhinagar
• National Park : Vansda National Park, Gir National Park, Marine National Park, Velavadar National Park
• Wildlife Sanctuaries : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Shoolpaneshwar Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

The government places limits on the importation of specific gold jewelry and goods:

• The government has imposed restrictions on imports of certain gold jewelry and articles.
• In a notification, the directorate general of foreign trade (DGFT) amended the import policy for unstudded jewelry made of gold, and other articles made of gold to “restricted” from “free”.
• Restrictions mean that a license will be required from the government to import these goods though no such permission is required for imports under the India-UAE Comprehensive Economic Partnership Agreement (CEPA) tariff rate quota ((TRQ).
• However, import under a valid India-UAE CEPA TRQ will be permitted freely without any import license

IIP grows by 5.2% in May 2023 from 4.2% in April 2022

• The Index of Industrial Production (IIP) grew by 5.2 percent in May 2023 from 4.2 percent in April 2023.
• As per the Ministry of Statistics and Programme Implementation data released today, the manufacturing sector’s output grew 5.5 percent and Mining output rose by 5.8 percent for the reported period.
• The index of manufacturing of pharmaceuticals, medicinal chemicals, and botanical products gained the most as it climbed 22.6 percent.
• In May 2022, IIP was at all time high-growth of 19.6 percent.

About IIP

• The Index of Industrial Production (IIP) is an index that shows the growth rates in different industry groups of the economy in a stipulated period.
• The IIP index is computed and published by the Central Statistical Organisation (CSO) monthly.

Retail inflation rises to 4.81% in June 2023

• Retail inflation, based on Consumer Price Index (CPI), stood at 4.81 percent in June 2023.
• According to the Ministry of Statistics and Programme Implementation data released, the Consumer Food Price Index (CFPI) for the last month rises to 4.49 percent as compared to 2.91 percent in May, mainly due to a rise in vegetable prices.
• Rural inflation stood at 4.72 percent in June while urban inflation was at 4.96 percent for the reported period.
• CPI for June remained within the RBI’s tolerance band of 2-6 percent for the fourth consecutive month.

About Retail Inflation:

• The Consumer Price Index (CPI), which tracks retail inflation, tracks price increases as seen by retail consumers.
• The Wholesale Price Index (WPI), on the other hand, tracks wholesale inflation and gauges it at the producer level.

CURRENT AFFAIRS: MOUS AND AGREEMENT

The MoD and FSSAI signed an agreement to encourage millet use, healthy eating habits, and the provision of wholesome food to the armed forces:

• A Memorandum of Understanding (MoU) to promote the use of millet and healthy eating practices among the Armed Forces and ensure the availability of safe & nutritious food was signed in the presence of Raksha Mantri Shri Rajnath Singh and Minister of Health & Family Welfare (MoHFW) Dr. Mansukh Mandaviya in New Delhi.
• Both Ministers also unveiled a book titled ‘Healthy Recipes for Defence’ to promote the consumption of Shree Anna (millets) and its health benefits.
• The MoU was signed by Director General (Supplies and Transport) Lieutenant General Preet Mohinder Singh on behalf of the Ministry of Defence (MoD) and CEO, of Food Safety and Standards Authority of India (FSSAI) Shri G Kamala Vardhana Rao.
• It aims to create awareness about the nutritional benefits of diet diversity and millet-based food products among the personnel.
• The MoU will also pave the way for the introduction of millet-based menus in messes, canteens, and other food outlets under the MoD.
• This collaboration will also ensure the training of food handlers & chefs of mess, canteens of the Armed Forces, and other food outlets on food safety and hygiene as per the Food Safety and Standards Act 2006.
• It signifies a shared commitment to the health and well-being of the Armed Forces to enable them to remain strong & resilient in their service to the nation.
• The MoU will also encourage the families of the Armed Forces and the community at large to adopt nutritious diets, make healthy food choices, and maintain food safety.
• The book ‘Healthy Recipes for Defence’, developed by FSSAI, includes a range of millet-based dishes.
• Chief of Defence Staff General Anil Chauhan, Defence Secretary Shri Giridhar Aramane, Health Secretary Shri Rajesh Bhushan and other senior officials of MoD & MoHFW were present on the occasion.

About Ministry of Defence: 

• Defence Minister:  Rajnath Singh
• Minister of State: Ajay Bhatt
• Defence Secretary: Giridhar Aramane

About FSSAI

• Food Safety and Standards Authority of India is a statutory body established under the Ministry of Health & Family Welfare, Government of India. The FSSAI has been established under the Food Safety and Standards Act, of 2006, which is a consolidating statute related to food safety and regulation in India.
• Founded: 5 September 2008
• Headquarters: New Delhi

Recent news

• Food safety regulator FSSAI revised its order and allowed the use of regional names in printed labels of curd packets amid political controversy in Tamil Nadu and Karnataka. The Food Business Operators (FBOs) are now allowed to use the term ‘curd’ along with any other prevalent regional common name in brackets on the label.
• Defence Ministry approved plans to buy 26 Rafale fighter aircraft and three Scorpene class conventional submarines for the Indian Navy from France.
• Defense ministry signs Rs 500 cr contract for a communication system. In a further boost to indigenous manufacturing of defense equipment, the Ministry of Defence inked a contract with ICOMM Tele Limited – Hyderabad for procurement of 1,035 numbers of ‘5/7.5 Ton Radio Relay Communication’ equipment containers.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Isha Ambani & Former CAG Rajiv Mehrishi Appointed as Directors On RIL’s Financial Services Unit

• Billionaire Mukesh Ambnai’s daughter Isha and former Comptroller & Auditor General of India (CAG) Rajiv Mehrishi have been appointed as directors on the board of demerged financial services unit of Reliance Industries Limited (RIL).
• Earlier, Reliance announced its plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL).
• Based on proprietary data analytics, the financial arm of Reliance will lend to consumers and merchants and eventually branch out to insurance, payments, digital broking, and asset management.

Other Appointments :

• Rajiv Mehrishi, who served as home secretary as well as CAG, has been appointed as an independent director of RSIL for 5 years.
• Sunil Mehta, chief executive of the Indian Banks’ Association, and Bimal Manu Tanna, a chartered accountant who worked with PwC, have been appointed independent directors.
• Banker Hitesh Kumar Sethia has been appointed managing director (MD) and chief executive officer (CEO) of RSIL for 3 years.

About RIL :

• Founded : 1958
• Headquarters : Mumbai, Maharashtra, India
• Chairman & Managing Director : Mukesh Ambani

CURRENT AFFAIRS : DEFENCE NEWS

First United States Navy ship Salvor arrives at L&T Kattupalli shipyard for repairs                          

• The United States Navy Ship (USNS) Salvor, a rescue and salvage ship, arrived at Larsen & Toubro Ltd (L&T) shipyard, in Kattupalli near Chennai, Tamil Nadu (TN) making it the first to conduct a mid-voyage repair under the 5-year Master Ship Repair agreement (MSRA) between the US Navy and private shipping contractor, L&T.
• A Military Sealift Command’s rescue and salvage ship from the United States (US) docked near Chennai, Tamil Nadu (TN) for repair work on July 9, 2023.
• It is the third US Navy ship visiting the L&T shipyard for voyage repairs, after USNS Charles Drew and USNS Matthew Perry.
• Earlier, repairs of Marine Sealift Command (MSC) Fleet Support Ships – USNS Charles Drew and USNS Matthew Perry were completed by L&T.

Participants :

• US Consul General in Chennai Judith Ravin, US Embassy New Delhi’s Office of Defence Cooperation chief Captain Michael L Farmer, senior US Embassy officials, and L&T leadership participated.

Key Highlights :

• The Master Ship Repair agreement is set to strengthen the Indo-US strategic partnership and maritime security.
• The agreement allows to pre-approve shipyards to repair US Naval vessels after a rigorous vetting process.

History :

• This historic agreement is a direct outcome of the 2022 US-India 2+2 Ministerial Dialogue and demonstrates US commitment to utilise repair facilities on a regular basis at the L&T Shipyard in Kattupalli, Chennai, Tamil Nadu (TN).
• This agreement will serve to strengthen our two nations’ strategic partnership and contribute to a free and open Indo-Pacific.”

Recent News :

• In July, 2023 Spain’s state-owned shipbuilder Navantia and engineering major Larsen & Toubro (L&T) signed a Teaming Agreement (TA) to jointly in Delhi bid for a ₹43,000-crore (4.8 billion euros) project to build 6 advanced submarines for the Indian Navy.

About Larsen & Toubro (L&T) :

• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : S. N. Subrahmanyan

CURRENT AFFAIRS: SPORTS NEWS

In the Men’s High Jump competition at the Para Athletics World Championships in Paris, India’s Nishad Kumar wins silver.

• Nishad Kumar of India has won a silver medal at the Para Athletics World Championships 2023, which are now taking place in Paris.
• In the High Jump T47 Event, Nishad took home this medal.
• Nishad’s victory makes him the second competitor in this competition to earn a medal.
• The top four finishers in each of the individual medal events at the 2023 World Para Athletics Championships advance to the 2024 Paralympic Games, which will again be hosted in Paris.

About World Para Athletics Championships

• The World Para Athletics Championships, known as the IPC Athletics World Championships before 2017, is a biennial Paralympic athletics event organized by World Para Athletics, a subcommittee of the International Paralympic Committee.
• Founded: 1994

After a four-year break, Pune will host the UTT competition, the top table tennis league in India:

• India’s top table tennis league Ultimate Table Tennis (UTT) tournament is being organized at the Shiv Chhatrapati Sports Complex, Pune,2023 under the aegis of the Table Tennis Federation of India after a gap of four years.
• The league round-robin will be held between the 13th and the 27th of July.
• The semifinals will be held on the 28 and the 29th of July and the final will be held on the 30th of July.
• The Ultimate Table Tennis league consists of six teams.
• There are 36 players in total with six from each team – four Indian players and two International players.
• Each team will play five matches.
• India’s ace table tennis player Sharath Kamal is participating in the UTT league.
• He will be leading the Indian team to the 26th Asian Championships to be held from the 3rd to the 10th of September this year in South Korea.

About UTT

• The Ultimate Table Tennis is a professional-level table tennis league in India.
• It was launched in 2017 and contested by 6 teams.
• It is organized by 11Sports promoted by Niraj Bajaj and Vita Dani and held under the aegis of the Table Tennis Federation of India.

About Table Tennis Federation of India

• President: Meghna Ahlawat
• Founded: 1926
• Secretary: Kamlesh Mehta
• Headquarters: Delhi
• Membership: 32 state units and 37 institutions

At the Commonwealth Weightlifting Championships at Gautam Budh University in Greater Noida, India wins three gold medals on the opening day:

• India has won three gold medals so far in the Commonwealth Weightlifting Championships, at the Gautam Budh University, Greater Noida.
• Athlete Jyotsna Sabar has clinched gold in the 40kg Youth Category, Asmita in the 45kg Youth & Junior Category, and Komal Kohar in the 45kg Senior Category.
• As many as 253 weightlifters, including 52 Indians, are competing across the senior, junior, and youth categories in the five-day tournament.
• The tournament will also serve as a test run for the prestigious AWF Asian Junior and Youth Weightlifting championship, slated to begin later this month.
• India is hosting the tournament for the second time, having successfully organized it in Pune in 2015.

Daily CA One-Liner: July 14

• Union Minister for Road Transport and Highways Shri Nitin Gadkari laid the foundation stone for 3 NH Projects in the presence of Tirupati, Andhra Pradesh.
• Minister of Youth Affairs and Sports and Minister of Information & Broadcasting, Shri Anurag Thakur unveiled the coveted trophy for Hero Asian Champions Trophy, Chennai 2023at the Major Dhyanchand National Stadium in New Delhi.
• The government has imposed restrictions on imports of certain gold jewelry and articles.
• The Index of Industrial Production (IIP) grew by 5.2 percent in May 2023 from 4.2 percent in April 2023.
• Retail inflation, based on Consumer Price Index (CPI), stood at 81 percent in June 2023.
• A Memorandum of Understanding (MoU) to promote the use of millet and healthy eating practices among the Armed Forces and ensure the availability of safe & nutritious food was signed in the presence of Raksha Mantri Shri Rajnath Singh and Minister of Health & Family Welfare (MoHFW) Dr. Mansukh Mandaviya in New Delhi.
• Nishad Kumar of India has won a silver medal at the Para Athletics World Championships 2023, which are now taking place in
• India’s top table tennis league Ultimate Table Tennis (UTT) tournament is being organized at the Shiv Chhatrapati Sports Complex, Pune,2023 under the aegis of the Table Tennis Federation of India after a gap of four years.
• India has won three gold medals so far in the Commonwealth Weightlifting Championships, at the Gautam Budh University, Greater Noida.
• According to the Ministry of Finance (MoF) notification, a non-resident Indian (NRI) can now be made a nominee for government saving schemes such as Public Provident Fund (PPF), National Saving Certificate (NSC) and post offices savings.
• Citi Commercial Bank (CCB) has launched a digital client platform called CitiDirect Commercial Banking in the United States of America (USA) for its commercial bank customers, bringing together all of its products and services in one place.
• The Reserve Bank of India (RBI) has rejected applications received from Cosmea Financial Holdings, West End Housing Finance and Akhil Kumar Gupta to start small finance banks (SFB) in the private sector.
• According to a survey by the Bank for International Settlements (BIS), by 2030, 24 central banks are expected to have digital currencies in circulation.
• Virgin Atlantic has ended its operations in Pakistan with the last flight of the British carrier taking off from Islamabad to London’s Heathrow Airport.
• The Uttar Pradesh (UP) government is planning to set up micro diaries of Indian cow breeds to promote indigenous industries, crops, and
• Gujarat Chief Minister (CM) Shri Bhupendra Patel and Union Minister of State for Communications Devusinh Chauhan, launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Nadia of Kheda district in Gujarat.
• Billionaire Mukesh Ambnai’s daughter Isha and former Comptroller & Auditor General of India (CAG) Rajiv Mehrishi have been appointed as directors on the board of demerged financial services unit of Reliance Industries Limited (RIL).
• The United States Navy Ship (USNS) Salvor, a rescue and salvage ship, arrived at Larsen & Toubro Ltd (L&T) shipyard, in Kattupalli near Chennai, Tamil Nadu (TN) making it the first to conduct a mid-voyage repair under the 5-year Master Ship Repair agreement (MSRA) between the US Navy and private shipping contractor, L&T.