Current Affairs May 07th & 08th 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

HDFC Bank launches customised relationship program in semi-urban & rural areas

• HDFC Bank launched its retail banking programme ‘Vishesh’ for customers in semi-urban and rural geographies wherein it plans to onboard around 1 lakh new customers.
• As a part of this, the bank plans to add more branches and launch customised, tailor-made products and financial solutions for this market segment.

Key Highlights :

• This move will help the bank meet some of its Priority Sector Lending (PSL) targets.
• HDFC Bank will look to add 675 branches in semi-urban and rural geographies in FY24 to take the total number to nearly 5,000.
• The bank had 7,821 branches and 19,727 automated teller machines across 3,811 cities and towns in India as on March 31,2023.
• Features of the programme include a dedicated personal banker; facility extendable to 8 family members; up to 50% discount on processing fees in gold loan and 50% waiver on valuation (once a year); and up to 50% off on processing fees on construction equipment, tractors, personal, business, auto and two-wheeler loans

About HDFC Bank Ltd :

• Founded : August 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

Max Life Partners with Capital Small Finance Bank to offer life insurance solutions

• Capital Small Finance Bank Limited and Max Life Insurance Company Limited entered into a partnership to offer life insurance offerings to Capital SFB’s customers.
• Through this tie-up, Max Life and Capital SFB will offer their customers a range of savings, protection, retirement, and group life insurance plans.
• Max Life will pave the way for the bank customers across the branches and other partnership channels, to access and avail innovative, flexible and varied life insurance products.
• Prior to Max Life, Capital Small Finance Bank has also partnered with ICICI Prudential Life Insurance Limited and HDFC life insurance Limited to provide their life insurance products to its customers.

About Capital Small Finance Bank :

• Founded : April 2016
• Headquarters : Jalandhar, Punjab, India
• MD & CEO : Sarvjit Singh Samra
• Capital Small Finance Bank (erstwhile Capital Local Area Bank) is India’s first small finance bank.

About Max Life Insurance Company Limited :

• Founded : 2001
• Headquarters : Gurugram, Haryana
• MD & CEO : Prashant Tripathy
• It is a joint venture (JV) between Max Financial Services Limited and Axis Bank Limited.

Cashfree Payments tie up with YES Bank to offer international payment collection

• Cashfree Payments and YES Bank have partnered to offer ‘Global Collections’, an international collection service for exporters, who are account holders of YES Bank.
• Under this partnership, the bank’s account holders will be able to collect payments in over 30 foreign currencies using the Global Collections service.
• The funds so received can then be converted into rupee and settled into their local bank account in India within one business day.

Key Highlights :

• The products will also provide clients with dedicated facilities in 4 different currencies, United States dollar (USD), Euro (EUR), pound sterling (GBP), and Canadian Dollar (CAD).
• Additionally, it will also enable global collections in over 30 currencies up to the equivalent of USD 10,000 in line with the Reserve Bank of India’s (RBI’s) Online Payment Gateway Service Providers (OPGSP) requirements and guidelines.
• Exporters will be able to share their payment collection details with their buyers over email, SMS or WhatsApp, and the buyers will be able to make payments using local rails like Automated Clearing House (ACH), Single Euro Payments Area (SEPA), etc.
• Exporters will receive their settlements in an INR format in their local bank accounts in India and will be able to get foreign inward remittances advice within 24 hours.
• The launch of Global Collections will empower the exporters to have real-time access and control over their payments and collections journey.
• Co-Founder of Cashfree Payments : Reeju Datta.

About YES Bank :

• Founded : 2004
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Prashant Kumar
• Tagline : Experience Our Expertise

Manappuram Finance ventures into digital money lending & introduces Ma-Money app                             

• Tapping huge business opportunities in the digital lending platform, Manappuram Finance has ventured into this burgeoning sector with the introduction of an app called Ma-Money to offer hassle-free loans at the click of a mouse.
• The objective of introducing the new app, which will cover all the products of the company under one umbrella, is to make the loan process simpler, quicker, and more convenient.
• The digital lending market is expected to touch $350 billion by the end of 2023 at a growth rate of 11 to 12% annually.
• The app will cater to all segments but will focus on tier 2 and 3 cities as that’s where the growth is expected to come from.

About Manappuram Finance Ltd :

• Founded : 1949
• Headquarters : Thrissur, Kerala, India
• MD & CEO : V P Nandakumar
• Manappuram Finance Ltd, is an Indian non-banking financial company (NBFC).

Fincare Small Finance Bank files draft red herring prospectus (DRHP) papers with SEBI                          

• Fincare Small Finance Bank has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
• The IPO will include capital raised through a fresh issue of shares of up to Rs 625 crore, and offer-for-sale of up to 1.7 crore shares by the promoters and existing shareholders.
• The proceeds from the fresh issue will be used to augment its tier-I capital base.

Key Highlights :

• The offer-for-sale comprises sale of up to 1.5 crore shares by the promoter, Fincare Business Services, 4.7 lakh shares by Wagner Ltd, 4.4 lakh shares by True North Fund V LLP, 4.3 lakh shares by Indium IV (Mauritius) Holdings, 2.2 lakh shares by Omega TC Holdings PTE, and 1.3 lakh shares by Leapfrog Rural Inclusion (India).
• Institutional sales include the sale of up to 1.3 lakh shares by Kotak Mahindra Life Insurance, 1.2 lakh shares by Edelweiss Tokio Life Insurance; 45,710 shares by Bharti AXA Life Insurance, 35,092 shares by Silver Leaf Oak (Mauritius), 20,572 shares by Tata Capital Financial Services, and 19,237 shares by Zuno General Insurance (formerly Edelweiss General Insurance).
• ICICI Securities, Axis Capital, IIFL Securities, SBI Capital Markets and Ambit Private are the book-running lead managers to the issue.

About Fincare Small Finance Bank :

• Headquarters : Bengaluru, Karnataka, India
• MD & CEO : Rajeev Yadav
• Fincare Small Finance Bank is a ‘digital-first’ lender with a focus on unbanked and under-banked customer segments, especially in rural and semi-urban areas.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

UPI transactions decline in volume & value terms in April 2023

• Unified Payments Interface (UPI) transactions declined in volume as well as value terms in April 2023 after peaking in the previous month.
• As per the National Payments Corporation of India’s (NPCI) “UPI Monthly Product Statistics”, Transaction volumes declined 7.96% month-on-month (m-o-m) in April 2023 to 796.29 crore against 865.16 crore in March 2023.
• Transaction value declined 9.51% m-o-m in April 2023 to ₹12.71 lakh crore against ₹14.04 lakh crore in March 2023.
• UPI is a single mobile application for accessing different bank accounts.
• Its features include immediate money transfer through mobile devices round the clock allows “Pull & Push”/ send/collect money transactions with virtual address; allows utility bill payments, over the counter payments, QR code -based payments.
• RuPay credit cards have been linked to UPI.
• This is in addition to the existing facility of linkage of UPI with deposit accounts.

RBI & BISIH launches 4th edition of G20 TechSprint 2023                                           

• Under India’s G20 Presidency, the Reserve Bank of India (RBI) and the BIS Innovation Hub (BISIH) of the Bank for International Settlements (BIS) have jointly launched the 4th edition of the G20 TechSprint,2023 a global technology competition to promote innovative solutions aimed at improving cross-border payments.
• The competition is open to developers from around the world for submitting applications from May 04, 2023 to June 04, 2023 and the TechSprint will conclude around August/ September 2023.
• RBI and BIS invite global innovators to help develop innovative technology solutions for cross-border payments.

Key Highlights :

• The 2023 edition of the TechSprint will focus on 3 problem statements on cross-border payments formulated by RBI and the BISIH-

1. Anti Money Laundering (AML)/Combating the Financing of Terrorism (CFT) /Sanctions technology solutions to reduce illicit finance risk.
2. Foreign Exchange (FX) and liquidity technology solutions to enable settlement in emerging market and developing economy (EMDE) currencies.
3. Technology solutions for multilateral cross-border Central Bank Digital Currencies (CBDCs) platforms.
4. Shortlisted teams will be invited to develop their solutions over a 6-week period and each team will be eligible for a stipend of INR 8,00,000 (approximately USD 10,000).
5. 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.
6. The winners for each problem statement will receive an award of INR 40,00,000 (approximately USD 50,000).

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain,M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar

Edelweiss Financial Service gets National Company Law Tribunal approval for demerger of wealth management business

• Edelweiss Financial Services Limited (EFSL) has received the National Company Law Tribunal (NCLT) approval for spinning off its wealth management business and listing it as Nuvama Wealth Management Limited (NWML).
• In 2020, Pacific Alliance Group (PAG) had invested in the Wealth Management business of Edelweiss and the company announced the demerger and subsequent listing of its wealth management business.
• In February,2023 shareholders of Edelweiss had approved the proposal.
• As per the scheme of the arrangement, NWML will allot 1,05,28,746 equity shares to the shareholders of EFSL (as on the record date) on a proportionate basis as a consideration for demerger.
• After listing, Edelweiss would continue to hold 14% in NWML and the shareholders of EFSL would hold 30% of the paid-share capital.
• PAG would hold 56% in NWML.

Ahmedabad-based Online PSB Loans to launch GST Sahay app for instant loan to MSMEs

• The Goods and Services Tax (GST) Sahay app, developed by Ahmedabad-based start-up digital credit platform provider Online PSB Loans (OPL) will enable small store-owners, kirana/grocers and other micro-small and medium enterprises (MSMEs) to secure instant bank loan between ₹10,000 to ₹2 lakh.
• OPL’s infrastructure has also been deployed for the rollout of Reserve Bank of India (RBI) Innovation Hub’s pilot on GST Sahay.

Key Highlights :

• The traders or store owners will have to update their details such as GST profiles with invoices generated etc on the GST Sahay app and can seek loans from their bank.
• Based on their GST profile and the Know Your Customer (KYC), the bank can instantly approve the loan.
• Over 1.2 crore GST-filing MSMEs and small traders are set to benefit from this GST Sahay app.
• The rate of interest for such loans would be 8-12% depending on the bank.
• Currently, Small Industries Development Bank of India (SIDBI) is testing this app for their clients.
• OPL platform has majority stake owned by 10 financial institutions including public sector and private banks and other development credit institutions, who are also among a large base of its clients that includes financial institutions.
• Apart from MSMEs, OPL’s platform for digital lending is also being used for end-to-end digitalisation of Kisan Credit Card (KCC) in Karnataka, where State Bank of India (SBI), Bank of Baroda (BOB) and Punjab National Bank (PNB) are using this platform to provide credit to farmers.
• This has reduced the duration of availing credit from 3-4 weeks to about 5-10 minutes.
• OPL has launched the com platform for the automation of credit to borrowers.
• The platform is mapped to all current lending processes irrespective of the type of bank/lending institution.

About Online PSB Loans :

• Headquarters : Ahmedabad, Gujarat
• MD & CEO : Jinand Shah

RBI Updates KYC Instructions On Wire Transfers

• The Reserve Bank of India (RBI) has updated instructions in the Master Direction (MD) on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF).
• As per the updated instructions in the Master Direction, all cross-border wire transfers shall be accompanied by accurate, complete, and meaningful originator and beneficiary information.

Key Highlights :

• Domestic wire transfers of Rs 50,000 and above, where the originator is not an account holder of the ordering Regulated Entities (RE), shall also be accompanied by originator and beneficiary information as indicated for cross-border wire transfers.
• ‘Ordering RE’ refers to the financial institution which initiates the wire transfer and transfers the funds on behalf of the originator.
• REs should make available all the information on the wire transfers to appropriate law enforcement and/or prosecutorial authorities as well as FIU-IND on receiving such requests with appropriate legal provisions.
• The instructions are not intended to cover any transfer that flows from a transaction carried out using a credit card, debit card, or Prepaid Payment Instrument (PPI) for the purchase of goods or services.

CURRENT AFFAIRS: NATIONAL NEWS

Indian Firm UPL To Establish Millets Model Farm in Guyana

• UPL, an agrochemical and speciality chemicals company, has signed a memorandum of understanding with the Republic of Guyana to establish a 200-acre ‘Millets Model Farm’.
• The company will study various millet varieties to identify those that are suitable for cultivation and consumption in Guyana.
• UPL will provide technical expertise and select agriculture inputs, while Guyana will provide land for the local farm operation.
• The year 2023 has been designated as the International Year of Millets, and the Indian government is making great efforts to establish India as the global centre for millets.
• In New Delhi’s Dilli Haat, the Millets Experience Centre (MEC) was recently opened by India’s Minister of Agriculture, Narendra Singh Tomar.

The government programme for non-communicable diseases renamed

• The Union health ministry has decided to rename its national programme and portal aimed at tackling the rising challenge of non-communicable diseases.
• In the last few years, many new diseases or disease groups or new initiatives have been added to the programme such as non-alcoholic fatty liver disease, chronic kidney disease, STEMI among others”.
• There was a need that scheme in its present form may subsume all types of non-communicable diseases (NCDs) under a new name.
• NCDs refer to chronic diseases that are not passed from person to person. It includes heart disease, stroke, cancer, diabetes, and chronic lung diseases.
• Earlier the programme on non-communicable diseases included diabetes, cardiovascular diseases, cancer, and stroke, and hence it was known as the National Programme for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases and Stroke (NPCDCS).
• NPCDCS was being implemented under the National Health Mission (NHM) across the country.
• The Ministry of Health and Family Welfare has decided to rename ‘NPCDCS’ as the National Programme for Prevention & Control of Non-Communicable Diseases (NP-NCD).
• It was launched in 2010 with focus on strengthening infrastructure, human resource development, health promotion, early diagnosis, management and referral.
• Under NPCDCS, NCD Cells are being established at National, State and District levels for programme management, and NCD Clinics are being set up at District and CHC levels, to provide services for early diagnosis, treatment and follow-up for common NCDs.

India to have 41 GW of energy storage capacity by 2030

• India is projected to have 41 GW of energy storage capacity along with 777GW of total installed power capacity by 2029-30, according to a leaReport on Optimal Generation Mix for 2029-30, released by Central Electricity Authority, Ministry of Power.
• Based on the hourly dispatch studies and the “capacity mix obtained from Long term studies”, the report says that India would need 41.65 GW/208.25 GWh of Battery Energy Storage Systems (BESS) to meet its electricity demand in 2029-30.
• These numbers, however, are under the ‘base case scenario’, where the total fossil fuel and non-fossil fuel capacities are assumed to be 276 GW and 500 GW, respectively.
• The report has also studied installed capacities and the corresponding BESS requirements under four different scenarios—conservative, higher demand, higher hydro, and higher BESS cost assumptions.
• In terms of generation, the report projects a rise of electricity generation from non-fossil fuels (counting in large hydro) from 25 per cent in 2022-23 to 44 per cent by 2030.
• In terms of capacity, non-fossil fuel-based sources would increase from 42 per cent now to 64 per cent, even as the total installed power capacity would rise to 777GW by 2030, the report says.
• Between 2005 and 2022, per capita electricity consumption doubled from 631 units to 1255 units in India, making it the third largest electricity market in the world.

Coal Ministry to complete 67 first mile connectivity projects by 2027

• The Coal Ministry said that it will complete 67 first-mile connectivity projects with a capacity of handling 885 million tonnes per annum (mtpa) by 2027.
• The Ministry of Coal takes up 67 FMC projects (59 – coal India (CIL), 5 – Singareni Collieries Company (SCCL) & 3 – NLC India (NLCIL)) with a capacity to load 885 mtpa.
• These projects will be completed by 2027.
• In order to eliminate road transportation of coal in mines, the Ministry has developed a plan to improve the mechanised coal transportation and loading system under FMC projects.
• The Ministry has set a target to generate 1.3 billion tonne coal in FY25 and 1.5 bt in FY30 to increase India’s energy security and realise AatmaNirbhar Bharat by substituting domestically mined coal for imported coal.
• India’s coal production hit a milestone of 892 mt during FY23, which is a Y-o-Y growth of 14.7 per cent.
• The power sector continued to be the largest consumer of domestic coal, accounting for the total despatches of 737.9 MT during FY23, an increase of 9.1 per cent Y-o-Y.

Refer to AIR as ‘Akashvani’ in line with Prasar Bharati Act

• The All India Radio (AIR) Director General has directed all the departments concerned to ensure that the public broadcaster is referred to as “Akashvani” in accordance with the Prasar Bharati (Broadcasting Corporation of India) Act, 1990, which came into force on November 15, 1997.
• Section 2(a) of the Act says that “Akashvani” means all the offices, stations and other establishments which are or were under the Director-General All India Radio of the Information & Broadcasting Ministry.
• On June 8, 1936, ISBS became All India Radio (AIR).
• In 1937, AIR was brought under the purview of the Depart ment of Communications.
• The Akashvani name was added in 1956.
• Following this the Vividh Bharati Service was launched in 1957 with popular film music as its main component.
• Prasar Bharati CEO Shashi Shekhar Vempati.

CURRENT AFFAIRS : STATE NEWS

President Droupadi Murmu to inaugurate new Government multi-super specialty hospital in Chennai

• President Draupadi Murmu will inaugurate the ₹230 crore Government Multi-Super Speciality Hospital in Chennai, Tamil Nadu (TN) on June 5, 2023.
• Tamil Nadu (TN) Chief Minister (CM) Shri MK Stalin met the President at Rashtrapati Bhavan in Delhi and extended the invitation to her to inaugurate the hospital at Guindy in the city.
• The 1000-bedded hospital has been built at a cost of ₹230 crore in an area of 51,249 square metres, spanning across 7 floors.
• On June 3, 2021, he announced that a Multi-Super Specialty hospital will be set up at the premises of the King Institute of Preventive Medicine and Research.
• She has given her consent to inaugurate the hospital and to participate in the Centenary Celebration to be held at YMCA Ground, Nandanam on June 5, 2023.

About Tamil Nadu :

• Governor: R. N. Ravi
• Chief minister: M. K. Stalin
• Capital: Chennai
• Dance : Bharatnatyam, Karakattam
• National Park : Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of Mannar Marine National Park
• Wildlife Sanctuaries : Kalakad Wildlife sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird Sanctuary
• Tiger Reserve : Anamalai Tiger Reserve
• Biosphere Reserve : Agasthyamalai Biosphere Reserve

Andhra Pradesh CM Jagan Mohan Reddy lays foundation for Greenfield international airport at Bhogapuram

• Andhra Pradesh (AP) Chief Minister (CM) Shri YS Jagan Mohan Reddy laid the foundation stone for Bhogapuram Greenfield International Airport at Bhogapuram, Visakhapatnam, AP.
• The estimated cost of the Bhogapuram Greenfield International Airport is Rs 4,592 crore.
• The airport is aimed at providing international air connectivity to people in the north-coastal districts of the State.

Key Highlights :

• The airport, which will be developed by the GMR company in a public-private partnership on an area of 2,203 acres around 40 km northeast of the city, will feature two runways capable of handling huge A320 and A380 aircraft.
• It is scheduled to begin operations in
• To be taken up by GMR Airports Infrastructure Ltd, the 2,203-acre airport is located midway between Visakhapatnam and Srikakulam and about 20 kilometres from Vizianagaram.
• The airport can handle 60 lakh passengers annually.

About AP :

• Governor: Biswabhusan Harichandan
• Chief minister: YS Jagan Mohan Reddy
• Capital: Amaravati
• National Park : Papikonda National Park, Rajiv Gandhi (Rameshwaram) National Park, Sri Venkateswara National Park
• Wildlife Sanctuaries : Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary, Krishna Wildlife Sanctuary, Gundla Brahmeswaram Wildlife Sanctuary

Himachal Pradesh Cabinet approves monthly incentive of Rs 1,500 for Spiti’s women

• The cabinet of Himachal Pradesh (HP) led by Chief Minister Shri Sukhwinder Sukhu has approved a monthly incentive of Rs 1,500 as Indira Gandhi Mahila Samman Nidhi to all eligible women of the Spiti Valley.
• It will be given to all women above 18 years.
• It will also be given to Buddhist nuns.

Other Key Highlights :

• A sub-committee will be formed to formulate a White Paper on the state’s financial position.
• The sub-committee will be headed by Deputy Chief Minister Shri Mukesh Agnihotri, while Agriculture Minister Shri Chander Kumar and Rural Development Minister Shri Anirudh Singh will be members.
• The HP government gave approval to introduce e-stamping for the collection of stamp duty to promote ease-of-doing business.
• The Cabinet decided to give Rs 600 in lieu of school uniforms through direct benefit transfer to all eligible students.
• It also decided to increase the honorarium of Nambardars in the Revenue Department from Rs 3,200 to Rs 3,700 per month as per the budget announcement, which will benefit about 3,177 Nambardars in the State.
• The Cabinet gave its nod to increase the honorarium of revenue chowkidars or part-time workers from Rs 5000 to Rs 5500 per month and it will benefit around 1950 revenue chowkidars or part-time workers.
• It also decided to increase the court fee rates from Rs 6 to Rs 20 for filing any application or petition in the Revenue Courts or applying attestation of affidavit or any other documents in Civil Courts other than High Court.
• The Cabinet decided to constitute the Atal Tunnel Planning Area and freeze the existing land use of the Atal Tunnel planning area which includes revenue villages of district Lahaul-Spiti.

About HP :

• Governor : Shiv Pratap Shukla
• Chief Minister : Sukhvinder Singh Sukhu
• Capital : Shimla (Summer), Dharamshala (Winter)
• Wildlife Sanctuary : Daranghati Sanctuary, Kanwar Sanctuary,Rupi Bhawa Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Venkatasamy Jagannathan retires as Star Health CEO

• Venkatasamy Jagannathan, Chairman and Chief Executive Officer (CEO) of Indian multinational health insurance company , Star Health and Allied Insurance Company, stepped down from his position.
• He will continue as Star Health’s Non-Executive Chairman & Non-Executive director.
• He also has a small stake in Star Health which he helped set up in 2006 & reported a record-high net profit of ₹618 crore, including a record underwriting profit of ₹204 crore.

About Star Health and Allied Insurance Company :

• Founded : 2006
• Headquarters : Chennai, Tamil Nadu, India

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

ISRO Successfully Launched Star Berry Sense Payload

• The Indian Space Research Organization (ISRO) launched a low-cost star sensor called StarBerrySense on board its Polar Satellite Launch Vehicle (PSLV) C-55 rocket.
• The StarBerrySense payload developed by the Indian Institute of Astrophysics (IIA), an autonomous institute of the Department of Science and Technology (DST), was launched on 22 April, 2023.

Star BerrySense’s primary objective :

• To image the field of view, identify stars, and calculate the spacecraft’s pointing direction.

Key Highlights :

• The StarBerrySense sensor calculates the pointing direction by identifying the stars in its field of view.
• The star sensor provides the most accurate information about a spacecraft’s orientation.
• StarBerrySense was mounted on ISRO’s PSLV Orbital Experimental Module (POEM), which provides a stable platform for our payload to operate from.
• POEM is a unique initiative by ISRO that utilises the spent 4th stage of the PSLV as an orbital platform for carrying out scientific experiments.

About ISRO :

• Established : 15 August 1969
• Headquarters : Bangalore, Karnataka, India
• Chairman : S. Somanath

Indian Army ropes in IIT Kanpur for making cantonments carbon-neutral

• The Indian Institute of Technology (IIT) Kanpur has signed an agreement with the Indian Army’s (IA) Military Engineer Services (MES) Jhansi, Uttar Pradesh (UP) to transform Army stations into carbon-neutral campuses.
• The Memorandum of Understanding (MoU) comes in accordance with the Earth Day 2023 and aims to contribute towards India’s vision of achieving net zero emissions by
• The MoU was signed between Akhil Singh Charak, Commander Works Engineer (CWE) & IITK alumnus, and Major Sunny Attri, Garrison Engineer from MES Jhansi, and Prof. A.R. Harish, Dean of R&D, IIT Kanpur.

Key Highlights :

• Currently 5 campuses under the MES Jhansi cantonment have been identified initially for converting each of them into net zero carbon, net zero energy, net zero water, and net zero waste campuses in a phased manner.
• The process will commence with a proof-of-concept plan for the selected Army campuses to adopt sustainable resource utilisation.
• Campuses will be assessed on various criteria, including energy sources, consumption, carbon footprint, sustainable alternatives adoption, on-site tree planting, and habit-related factors
• The agreement also encompasses training Army personnel in sustainable practices and creating a resource pool through on-job training.

CURRENT AFFAIRS: SPORTS NEWS

Chong Wei and Lin Dan elected to BWF Hall of Fame

• China’s Lin Dan and Malaysia’s Lee Chong Wei have been elected to the 2023 Badminton World Federation (BWF) Hall of Fame.
• Lee and Lin, who retired in 2019 and 2020 respectively after glorious careers, will be inducted at a ceremony on May 26 at the Kuala Lumpur Convention Centre in Malaysia.
• Chong Wei and Lin Dan had dominated the men’s singles for two decades until their retirements in 2019 and 2020 respectively.
• Chong Wei finished with 47 World Tour titles and was ranked world No. 1 for 349 weeks.
• Meanwhile, Lin Dan captured two Olympics gold medals and five world titles.

About Badminton World Federation

• Headquarters: Kuala Lumpur, Malaysia.
• President: Poul-Erik Høyer Larsen
• Formation: 1934
• Membership: 194 member associations

Napoli win first Italian Serie A title in 33 years

• Napoli won their first Italian Serie A title in 33 years, clinching the title with a 1-1 draw at Udinese.
• The title is Napoli’s third in Italy’s top division and their first since the legendary Argentine player Diego Maradona led them to championships in 1987 and 1990.
• Napoli’s home stadium was renamed in Maradona’s honour following his death in November 2020.

Neeraj Chopra clinches Doha Diamond League title

• Olympic champion javelin thrower Neeraj Chopra started his Diamond League title with a comfortable win in the season-opening leg in Doha.
• In September 2022, the 25-year-old Chopra had won the 2022 Diamond League Final trophy in Switzerland.
• Chopra hit his straps on his first attempt with a world-leading throw of 88. 67m, the fourth-best effort of his career.
• Czech Republic’s Vadlejch finished second and Grenada’s Peters finished third.
• With this victory, Neeraj has also achieved the world lead.
• Doha Diamond League is an annual one-day track and field competition held at the Suhaim bin Hamad Stadium in Doha, Qatar.
• It is part of the Diamond League, which is the top level international circuit for the sport.

Tech Mahindra, FIDE join hands for franchisee-based chess competition

• After making its mark as a tech partner in three FIFA World Cups, a racing track event, the Indian Premier League and the International Chess Federation (FIDE) for the 44th Olympiad in Chennai last year, IT services major Tech Mahindra is all set to come up with the world’s first franchisee-based chess competition called Global Chess League(GCL) in association with FIDE.
• The first edition of the league is all set to be held in Dubai between June 21 to July 2.
• Both Tech Mahindra and FIDE have entered into a deal to conduct the league as a joint venture for five to eight years.
• The league will be held in association with Dubai Sports Council, the league’s Host Partner.
• The first edition will feature six teams with six players each, including a minimum of two female players and one icon player per team.
• The top two teams will qualify for the final on July 2, 2023, and be crowned the World Champion Franchise Team.

About FIDE:

• Headquarters: Lausanne, Switzerland, Arkady Dvorkovich, FIDE President, Viswanathan Anand Deputy President, FIDE.

CURRENT AFFAIRS : OBITUARIES

Former Olympic & 3 time Olympic medalist Tori Bowie Passed away 

• An American sprinter and long jumper who won 3 Olympic medals and 2 world titles in the sport, Tori Bowie, passed away at the age of 32 in Orlando, Florida, United States of America (USA).

About Tori Bowie :

• Tori Bowie was Born on 27 August 1990 in Mississippi, USA.
• She began competing in track and field professionally in 2013.
• She primarily competed in the long jump, 100 metres, and 200 m.
• She also competed on the IAAF (World Athletics, formerly known as the International Amateur Athletic Federation and International Association of Athletics Federations) Diamond League circuit for the first time, long jumping at the Adidas Grand Prix and Hercules meets.
• She won 100m silver medal and 200m bronze at the 2016 Rio Olympics.
• She claimed 100m bronze and 100m gold at the 2015 and 2017 World Championships in Athletics
• She also earned gold medals as part of S. women’s 4 × 100 m relays at both the 2016 Olympic Games and 2017 World Championships.
• She finished 4th in the long jump at the world championships in Doha in 2019.
• The last official competition she participated in was in June 2022.

Tamil Actor-Director Manobala Passed away    

• Veteran Tamil actor, comedian, director, and producer Manobala passed away at the age of 69 in Chennai, Tamil Nadu (TN).
• His official name was Balachander & Manobala was his stage name.
• In his career spanning over 35 years, he acted in over 900 films.
• He made his debut as a director with Aagaya Gangai in 1982.
• Some of his popular films include Pillai Nila, Oorkaavalan, En Purushanthaan Enakku Mattumthaan, Karuppu Vellai, Mallu Vetti Minor and Paarambariyam,
• His last films were Ghosty and Kondraal Paavam.

CURRENT AFFAIRS: IMPORTANT DAYS

World Laughter Day 2023: May 7

• Every year World Laughter Day is celebrated on the first Sunday of May and this year world laughter day falls on 7th of May.
• Every year on the first Sunday of May, world laughter day was observed to promote awareness about laughter and its health benefits.
• World Laughter Day is celebrated in 1998 when Dr Madan Kataria announced the first celebration of this day on May 10. Dr Madan Kataria, established World Laughter Day in 1998.
• He is the founder of the Laughter Yoga Movement.
• The main aim of this world laughter day is to make us aware of the countless benefits of laughter in leading a healthy and fulfilling life.
• Initially, Laughter Day was only celebrated only in India but after that because of the unique and meaningful concept, world laughter day is spread to different countries.
• Now, the Laughter Yoga Movement and World Laughter Day are celebrated in different parts of the world.

World Athletics Day 2023 – May 7

• World Athletics Day is celebrated every year on May 7.
• This Day is observed to raise awareness about the Athletics.
• The theme for World Athletics Day 2023 is ‘Athletics for All – A New Beginning’.
• This day was launched to honor the sportsperson who is having the responsibility to pride the nation.
• This day was first observed in 1996 and it was launched by International Amateur Athletic Federation (IAAF) President Primo Nebiolo.
• The World Athletics Federation and International Amateur Athletic Federation (IAAF) organized sports events in all schools and colleges every year.
• International Amateur Athletic Federation (IAAF) was founded in 1912 to organize various sports events and athletics.
• In 2001, the name of the International Amateur Athletic Federation (IAAF) was changed to International Association of Athletics Federations.
• And in 2019, the name was again changed to World Athletics.

World Thalassaemia Day 2023 – May 8

• World Thalassaemia day is celebrated every year on May 8.
• This day is celebrated to raise awareness about the struggles of patients suffering from genetic disorders and raise awareness about Thalassaemia.
• The International Thalassaemia Day 2023 theme is “Be Aware. Share. Care: Strengthening Education to Bridge the Thalassaemia Care Gap.’’
• In 1994, Thalassaemia International Federation (TIF) established May 8 as Thalassaemia Day.
• Thalassaemia International Federation(TIF) is organising many useful activities to seek attraction of public, to improve the health of the public.
• This day was observed in the memory of George Englezos who was the son of Thalassaemia International Federation’s (TIF) president and founder.

World Red Cross And Red Crescent Day 2023 – May 8

• World Red Cross and Red Crescent Day are celebrated every year on May 8.
• This year, theme is: Everything we do comes #fromtheheart
• This initiative was studied by an International Commission established at the 14th International Conference on the Red Cross.
• World Red Cross Day is celebrated on the birth anniversary of Henry Dunant, who was born on May 8, 1828.
• Henry Dunant was the founder of the International Committee of the Red Cross (ICRC).
• He was the recipient of the Nobel Peace Prize.
• The International Federation of Red Cross and Red Crescent Societies (IFRC) was first established in 1919 in Paris.
• The whole body of the World Red Cross and Red Crescent consists of the International Committee of the Red Cross, the International Federation of Red Cross and Red Crescent societies, and national Red Cross and Red Crescent societies.
• In 1984, this day was officially named “World Red Cross and Red Crescent Day”.

Daily CA One-Liner: May 7 & 8

• HDFC Bank launched its retail banking programme ‘Vishesh’ for customers in semi-urban and rural geographies wherein it plans to onboard around 1 lakh new customers.
• Capital Small Finance Bank Limited and Max Life Insurance Company Limited entered into a partnership to offer life insurance offerings to Capital SFB’s customers.
• Cashfree Payments and YES Bank have partnered to offer ‘Global Collections’, an international collection service for exporters, who are account holders of YES Bank.
• Tapping huge business opportunities in the digital lending platform, Manappuram Finance has ventured into this burgeoning sector with the introduction of an app called Ma-Money to offer hassle-free loans at the click of a mouse.
• Fincare Small Finance Bank has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
• Unified Payments Interface (UPI) transactions declined in volume as well as value terms in April 2023 after peaking in the previous month.
• Under India’s G20 Presidency, the Reserve Bank of India (RBI) and the BIS Innovation Hub (BISIH) of the Bank for International Settlements (BIS) have jointly launched the 4th edition of the G20 TechSprint,2023 a global technology competition to promote innovative solutions aimed at improving cross-border payments.
• Edelweiss Financial Services Limited (EFSL) has received the National Company Law Tribunal (NCLT) approval for spinning off its wealth management business and listing it as Nuvama Wealth Management Limited (NWML).
• The Goods and Services Tax (GST) Sahay app, developed by Ahmedabad-based start-up digital credit platform provider Online PSB Loans (OPL) will enable small store-owners, kirana/grocers and other micro-small and medium enterprises (MSMEs) to secure instant bank loan between ₹10,000 to ₹2 lakh.
• The Reserve Bank of India (RBI) has updated instructions in the Master Direction (MD) on Know Your Customer (KYC) related to wire transfers and also aligned the same with the relevant recommendation of the Financial Action Task Force (FATF).
• President Draupadi Murmu will inaugurate the ₹230 crore Government Multi-Super Speciality Hospital in Chennai, Tamil Nadu (TN) on June 5, 2023.
• Andhra Pradesh (AP) Chief Minister (CM) Shri YS Jagan Mohan Reddy laid the foundation stone for Bhogapuram Greenfield International Airport at Bhogapuram, Visakhapatnam, AP.
• The cabinet of Himachal Pradesh (HP) led by Chief Minister Shri Sukhwinder Sukhu has approved a monthly incentive of Rs 1,500 as Indira Gandhi Mahila Samman Nidhi to all eligible women of the Spiti Valley.
• Venkatasamy Jagannathan, Chairman and Chief Executive Officer (CEO) of Indian multinational health insurance company , Star Health and Allied Insurance Company, stepped down from his position.
• The Indian Space Research Organization (ISRO) launched a low-cost star sensor called StarBerrySense on board its Polar Satellite Launch Vehicle (PSLV) C-55 rocket.
• The Indian Institute of Technology (IIT) Kanpur has signed an agreement with the Indian Army’s (IA) Military Engineer Services (MES) Jhansi, Uttar Pradesh (UP) to transform Army stations into carbon-neutral campuses.
• UPL, an agrochemical and speciality chemicals company, has signed a memorandum of understanding with the Republic of Guyana to establish a 200-acre ‘Millets Model Farm’
• The Union health ministry has decided to rename its national programme and portal aimed at tackling the rising challenge of non-communicable diseases
• India is projected to have 41 GW of energy storage capacity along with 777GW of total installed power capacity by 2029-30, according to a leaReport on Optimal Generation Mix for 2029-30, released by Central Electricity Authority, Ministry of Power
• The Coal Ministry said that it will complete 67 first-mile connectivity projects with a capacity of handling 885 million tonnes per annum (mtpa) by 2027.
• The All India Radio (AIR) Director General has directed all the departments concerned to ensure that the public broadcaster is referred to as “Akashvani” in accordance with the Prasar Bharati (Broadcasting Corporation of India) Act, 1990, which came into force on November 15, 1997
• China’s Lin Dan and Malaysia’s Lee Chong Wei have been elected to the 2023 Badminton World Federation (BWF) Hall of Fame
• Napoli won their first Italian Serie A title in 33 years, clinching the title with a 1-1 draw at Udinese
• Olympic champion javelin thrower Neeraj Chopra started his Diamond League title with a comfortable win in the season-opening leg in Doha
• After making its mark as a tech partner in three FIFA World Cups, a racing track event, the Indian Premier League and the International Chess Federation (FIDE) for the 44th Olympiad in Chennai last year, IT services major Tech Mahindra is all set to come up with the world’s first franchisee-based chess competition called Global Chess League(GCL) in association with FIDE
• Every year World Laughter Day is celebrated on the first Sunday of May and this year world laughter day falls on 7th of May
• World Athletics Day is celebrated every year on May 7
• World Thalassaemia day is celebrated every year on May 8
• World Red Cross and Red Crescent Day are celebrated every year on May 8.
• An American sprinter and long jumper who won 3 Olympic medals and 2 world titles in the sport, Tori Bowie, passed away at the age of 32 in Orlando, Florida, United States of America (USA).
• Veteran Tamil actor, comedian, director, and producer Manobala passed away at the age of 69 in Chennai, Tamil Nadu (TN).