Current Affairs May 14th & 15th 2023| Current Affairs News

May 15, 2023

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CURRENT AFFAIRS : BANKING & FINANCE

Bank of Baroda launches electronic bank guarantee on BarodaINSTA platform

Bank of Baroda (BoB), one of India’s leading public sector banks, has introduced Electronic Bank Guarantee (e-BG) on its BarodaINSTA platform, in partnership with National E-Governance Services Limited (NeSL), a platform that provides for the issuance of Inland BGs through electronic mode.
Other than the BoB, banks like HDFC, State Bank of India (SBI), Yes Bank, and Federal Bankalso provide e-BG facilities.

Key Highlights :

The new facility will enable the public sector bank to issue inland bank guarantees electronically on its digital platform BarodaINSTA.
Being entirely digital, the system will reduce the turnaround time in the process and provide a safer and more accessible medium, claims the Bank.
The beneficiary can view the final digital BG on the NeSL portal immediately upon issuance.
Such an e-BG eliminates the need for a separate authentication from the BG issuing Bank.

What is NeSL?

NeSL is India’s first Information Utility and is registered with the Insolvency and Bankruptcy Board of India (IBBI) under the aegis of the Insolvency and Bankruptcy Code, 2016 (IBC)
MD & CEO : Debajyoti Ray Chaudhuri

About BoB :

Founded : 20 July 1908
Headquarters : Vadodara, Gujarat, India
MD & CEO : Sanjiv Chadha
Tagline : India’s International Bank

Asian Development Bank Announces IF-CAP Program to Accelerate Billions in Climate Change Financing in Asia & Pacific

The Asian Development Bank (ADB) announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a landmark program which could significantly ramp up support for the region in the battle against climate change.
The announcement was made by ADB President Mr Masatsugu Asakawa on the opening day of ADB’s 56th Annual Meeting in Incheon, South Korea.

What is IF-CAP?

Asia and the Pacific is uniquely vulnerable to the impacts of climate change, such as hurricanes, droughts, heat waves, floods, and sea-level rises.
IF-CAP’s initial partners are Denmark, Japan, the Republic of Korea, Sweden, the United Kingdom (UK), and the United States (US).
With a model of ‘$1 in, $5 out’, the initial ambition of $3 billion in guarantees could create up to $15 billion in new loans for much-needed climate projects across Asia and the Pacific.
IF-CAP financing will contribute to ADB’s raised ambition for $100 billion from its own resources for climate change for 2019–2030.

About ADB :

Established : 19 December 1966
Headquarters : Mandaluyong, Metro Manila, Philippines
President : Masatsugu Asakawa
Membership : 68 countries

RBI imposes Rs 2.92 cr penalty on Canara Bank for violating norms

The Reserve Bank of India (RBI) has imposed a penalty of Rs 2.92 crore on Canara Bank for violation of various norms, including linking interest rates to external benchmarks, and opening savings accounts of ineligible entities.
The RBI conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2021.
A scrutiny of the bank was carried out by RBI in July 2020 based on a high-value fraud reported by another bank.
The penalty is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

About Canara Bank :

Founded : 1910 (Nationalised in 1969)
Headquarters : Bangalore, Karnataka, India
MD & CEO : K Satyanarayana Raju
Tagline : Together we can

RBI mandates rupee-only settlement of fees for certain cards

The Reserve Bank of India (RBI) stated that certain fees/ charges levied by ‘Authorised Persons’ on International Debit Cards, Store Value Cards, among others, and payable in India have to be denominated and settled in Rupees only.
This instruction comes in the wake of the RBI coming across a few Authorised Persons (in foreign exchange) levying certain fees/charges, payable in India on such instruments, in foreign currency.
The instruments also include Charge Cards/Smart Cards or any other instrument that can be used to create a financial liability as ‘currency’.
Authorised Persons include banks authorised to deal in foreign exchange, full-fledged money changers,

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

SEBI grants final approval for proposed change in control of HDFC AMC

Market regulator Securities and Exchange Board of India (SEBI) through its letter to HDFC Asset Management Company (HDFC AMC) Limited, a subsidiary of HDFC Ltd and the investment manager of HDFC AMC AIF II, has granted its final approval for the proposed change in control of HDFC AMC.
This approval will help pave the way for the merger of HDFC and HDFC Bank, expected to be finalised by the 3rd quarter of the next financial year.
The proposed entity will have a combined asset base of around ₹18 lakh crore.
Once the deal is effective, HDFC Bank will be 100% owned by public shareholders, and existing shareholders of HDFC will own 41% of the bank.

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 bodyfor securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

RBI directs users to pay fee & charges on forex cards in rupees

The Reserve Bank of India (RBI) has stated that fees and charges payable in India on forex prepaid cards, store value cards, and travel cards must be denominated and settled in local currency Rupees only.
The use of such cards is limited to permissible current account transactions.
It is subject to the prescribed limits under the Foreign Exchange Management Rules.
Earlier, RBI had stated that no prior permission from the bank is needed for such cards.

HDFC Bank & Telangana Academy for Skill and Knowledge Together to Promote Fresh Employment

HDFC Bank, India’s largest private sector bank, and Telangana Academy for Skill and Knowledge (TASK), a not- for-profit organisation under the Department of ITE&C, Government of Telangana have signed a Memorandum of Understanding (MoU) to promote employment of fresh graduates and
As per the MoU, HDFC Bank will now be able access a large pool of talent across 700 institutions registered with ‘TASK’.
The MoU was signed at Hyderabad by Shrikant Sinha, CEO – TASK and Ranga Subramanian, Head – Talent Acquisition, HDFC Bank.
Under the partnership, TASK will help HDFC Bank hire trained students.
Logistical support for placement drives and interviews will be provided by TASK.

About HDFC Bank Limited :

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

RazorpayX Introduces Automated ESCROW+ Solution powered by Axis Trustee Services Ltd

RazorpayX, the business banking platform of Razorpay, launched an automated ESCROW+ solution, powered by Axis Trustee Services Ltd, RBL Bank &ICICI Bank.

Objective :

To provide automated, compliant, and secure money transfer experience on Escrow accounts to businesses

About ESCROW+ solution :

RazorpayX’s ESCROW+ solution aims to address such pain points, by providing an Escrow trustee who is vetted and on-boarded by RazorpayX.
It also offers merchants with an Escrow account to route funds they are receiving on behalf of end beneficiaries, ensuring the right tax treatment and
Moreover, the automated processes facilitated by Escrow+ assure higher success rates and seamless payouts, enhancing overall payout performance.
The ESCROW+ account is the second type of account that RazorpayX will be offering as part of its Business Banking Suite, in addition to current accounts.
While the solution will currently cater to digital-first businesses in Gaming, Marketplace & eCommerce, Co-lending, and P2P-lending industries.
In the 3 months since its beta launch, the service enabled 15 firms to bring Rs 350 crore in annualised run rate (ARR) to India.
Additionally, it launched RazorpayX Digital Lending 2.0, a digital lending solution for Non Banking Finance Companies (NBFCs) & Fintechs to assist them in complying with digital lending guidelines.
Managing Director & CEO at Axis Trustee Services Ltd : Deepa Rath

About Razorpay Software Private Limited :

Founded : 2014
Headquarters : Bangalore, Karnataka
CEO : Harshil Mathur

Union Bank of India to start wealth management vertical

Union Bank of India (UBI) will start a wealth management vertical in the current financial year.
This will be done to attract and retain HNI (high networth individual) and NRI (non-resident Indian) customers.
State Bank of India (SBI) and Bank of Baroda (BoB) are among public sector banks that have a wealth management vertical for affluent customers.
UBI posted its highest net profit in 30 quarters at Rs 2,782 crore in the fourth quarter of FY23.
UBI aims to become the third largest public sector bank in terms of profitability by 2025.

About UBI :

Founded : 11 November 1919
Headquarters : Mumbai, Maharashtra, India
MD & CEO : A. Manimekhalai
Tagline : Good People to Bank with

CURRENT AFFAIRS: NATIONAL NEWS

Union Minister Meenakshi Lekhi inaugurates ‘Buddham Saranam Gacchami’ exhibition in New Delhi

Buddham Saranam Gacchami exhibition was inaugurated in New Delhi.
Union Minister of State for External Affairs and Culture Meenakshi Lekhi inaugurated the exhibition at the National Gallery of Modern Arts, New Delhi.
The exhibition was based on the life of Lord Buddha.
It was organized in the week succeeding Buddha Purnima.
It showcased the voyage of Buddhist art and culture around the world.
It also showcased paintings from countries like Sri Lanka and Myanmar.
It is open for public till 10th June at the National Gallery of Modern Arts.

MyGov collaborates with IHM Pusa to launch ‘YUVA PRATIBHA – Culinary Talent Hunt

‘Yuva Pratibha-Culinary Talent Hunt’ launched by MyGov in association with IHM, Pusa.
It has been launched to reflect India’s rich culinary heritage and teach the world, to understand its value and importance in taste, health, traditional knowledge, ingredients and cuisine.
With an aim to create awareness and increase the production and consumption of Millet, the year 2023 has been declared by the United Nations as the ‘International Year of Millet’.
This announcement was made after India’s proposal and through this India can establish itself as a global hub of millets.
Millet has been an integral part of our diet since ages.
The objective of this competition aims to bring forgotten recipes to the fore and promote the culinary talent of young and aspiring chefs and home cooks.
The competition has provided the various Millet participants a unique opportunity to showcase their creativity and innovation in cooking with healthy and sustainable ingredients.
The contest is open to the citizens of India within the age group of 18 to 40 years. The dish should be home-cooked, wherein 50 percent of the ingredients should be of millet.

Company directors, trustees of an express trust, nominee shareholders now in the ambit of PMLA

Finance Ministry has included directors of a company as reporting entity under the PMLA for certain activities carried out in the course of business.
It has also included trustees of an express trust and nominee shareholders of company as reporting entity under the Prevention of Money Laundering Act (PMLA) for certain activities.
This means that they will be responsible for violation of law.
As per the Finance Ministry’s notification, five categories of activities, when conducted in the course of business on behalf of or for another person, are included in the ambit of PMLA.
These categories are given below:
Acting as a formation agent of companies and limited liability partnerships
Acting as (or arranging for another person to act as) a director or secretary of a company, a partner of a firm or a similar position in relation to other companies and limited liability partnerships
Providing a registered office, business address or accommodation, correspondence or administrative address for a company or a limited liability partnership or a trust
Acting as (or arranging for another person to act as) a trustee of an express trust or performing the equivalent function for another type of trust
Acting as (or arranging for another person to act as) a nominee shareholder for another person
Intermediaries are not included in the new notified categories.
There are some exemptions.
The exemptions are given below.
Any activity that is carried out as part of any agreement of lease, sub-lease, tenancy or any other agreement or arrangement for the use of land or building or any space and the consideration is subjected to deduction of income-tax.

C-PACE established for providing hassle-free filing, timely and process-bound striking off companies from MCA Register

Corporate Affairs Ministry (MCA) has centralised the striking off process of companies with the establishment of the Centre for Processing Accelerated Corporate Exit (C-PACE).
The office of C-PACE was inaugurated on May 1, 2023 by RK Dalmia, Director, Inspection & Investigation, MCA.
Harihara Sahoo, ICLS, has been appointed as first Registrar of the office of C-PACE, MCA.
The setting up of the C-PACE is part of the several measures taken by MCA in the recent past towards ease of doing business and ease of exit for the companies.
This move would be particularly useful for start-ups that face failures due to various reasons.
The C-PACE office will work under the supervision/administration of Director General of Corporate Affairs (DGCoA) in New Delhi.
The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides the availability of more meaningful data to the stakeholders.
The C-PACE will also benefit the stakeholders by providing a hassle-free filing, timely and process-bound striking off their company’s names from the Register, an official release said.
The setting up of C-PACE is part of government’s overall efforts to speed up the voluntary winding up of companies from the currently required two years to less than 6 months.
With this latest MCA move, all the STK forms will be processed with C-PACE at Manesar, Gurugram, instead of the earlier practice of State Registrar of Companies (RoCs) dealing with the same.

CURRENT AFFAIRS : STATE NEWS

Kerala becomes 1st state to launch its own institutional ranking framework – Kerala Institutional Ranking Framework

Higher Education Minister of Kerala Shri R. Bindu formally launched the Kerala Institutional Ranking Framework (KIRF), modelled on the lines of the National Institutional Ranking Framework (NIRF), to assess the quality of higher education institutions in
Kerala has become the first in the country to establish a State-specific ranking framework for its higher education institutions by way of the initiative.

Aim :

To introduce a more democratic and secular approach to the ranking system in kerala.

What is KIRF?

The NIRF is a ranking system created by the Indian government in 2015 to evaluate higher education institutions across India.
KIRF will rank participating universities, colleges in the categories of overall, universities, colleges, engineering, management, architecture, medical, dental, pharmacy, nursing, law, and teacher education.
The framework will assess the higher educational institutions based on 5 components:

Teaching
Learning and Resources (TLR)
Knowledge Dissemination and Research Excellence (KDRE)
Graduation Outcome (GO)
Outreach and Inclusivity (OI).

About Kerala :

Governor : Arif Mohammad Khan
Chief Minister : Pinarayi Vijayan
Capital : Thiruvananthapuram
National Park : Eravikulam National Park, Silent Valley National Park
Wildlife Sanctuary : Chinnar Wildlife Sanctuary, Periyar Wildlife Sanctuary

Ladakh annual festival ‘Monlam Chenmo’ begins in Ladakh

The annual 5-day-long Great Prayer Festival, “Ladakh Monlam Chenmo,” a mass prayer camp by Buddhist monks and nuns for world peace and happiness is starting in Leh, Ladakh.
It has resumed after three years of discontinuation due to Covid.

Key Highlights :

The event has been organised since 1991.
It is being organised by the All Ladakh Gonpa Association.
Smonlam Chenmo is a major annual prayer of the Sangha Community of Ladakh gathered at one platform.
On the side-lines of the event, Member of Parliament for Ladakh Constituency Jamyang Tsering Namgyal will lead a special camp for Sangha Community, which is named “Seva for Sangha’, from May 11 to 16, 2023 at Leh in collaboration with district administration Leh.
The Indo-Tibetan Border Police (ITBP) has also joined hands with the organisers to set up medical camps during the 5-day-long camp ‘Seva for Sangha’.

London Stock Exchange Group to set up technology centre in Hyderabad

The London Stock Exchange Group PLC (LSEG) will set up a technology centre of excellence (CoE) in Hyderabad, which will create about 1,000 jobs a year.
The announcement was made after Telangana IT and Industries Minister Shri KT Rama Rao Meeting with LSE Group CIO Anthony McCarthy in London.
A memorandum of understanding (MoU) was also signed by Jayesh Ranjan, Principal Secretary of IT and Industries Departments (Govt of Telangana), and McCarthy.
The CoE will boost the banking, financial services and insurance (BFSI) ecosystem in the city.

About LSEG :

Founded : 23 June 2007
Headquarters : London, England, United Kingdom
The LSEG is a global financial market infrastructure and data provider, operating in 70 countries, serving customers in 190 countries.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

L&T appoints SN Subrahmanyan as Chairman & Managing Director & AM Naik to be Chairman Emeritus

Infrastructure major Larsen & Toubro (L&T) has appointed S N Subrahmanyan, as Chairman and Managing Director (CMD) of the company with effect from October 1, 2023.
M. Naik has decided to step down as Non-Executive Chairman of the Company with effect from September 30, 2023.
M. Naik has been conferred the status of ‘Chairman Emeritus’ by the Board.”
SN Subrahmanyan is currently the Chief Executive Officer (CEO) and Managing Director (MD) of Larsen & Toubro.
AM Naik has been with L&T for more than 58 years and is known as the architect of the transformation of the company into a global conglomerate with dominance in the sectors in which he operated.

About L&T :

Founded : 7 February 1946
Headquarters : Mumbai, Maharashtra
Larsen & Toubro Ltd, commonly known as L&T, is an Indian multinational conglomerate company.

Wesley Simina sworn in as 10th president of Federated States of Micronesia

Former Speaker Wesley W. Simina was elected as the 10th president of the Federated States of Micronesia (FSM) during the first regular session of the 23rd FSM Congress in
He will succeed David Panuelo.
During the first day of the 23rd FSM Congress, Aren B. Palik was re-elected as vice president.
Palik used to work in the Congress as the Senator At-Large for Kosrae State.
Prior to his presidential election, Simina was the senator at-large for Chuuk State and also the speaker of the Congress.

Other Appointments :

Esmond Moses was elected as Speaker and Robson Romolo was the Vice Speaker of Congress.
In addition, Quincy Lawrence won the election for Floor Leader.

About FSM :

Capital : Palikir
Currency : United States dollar

CURRENT AFFAIRS: BUSINESS NEWS

CBIC rolls out Automated Return Scrutiny Module for GST returns in ACES-GST backend application for Central Tax Officers

Automated Return Scrutiny Module has been launched by CBIC for GST Returns in ACES-GST Backend Application for Central Tax Authorities.
The Central Board of Indirect Taxes and Customs (CBIC) performance was recently reviewed.
During this, Union Finance and Corporate Affairs Minister Smt. Nirmala Sitharaman had given instructions to start an automated return scrutiny module for GST returns at the earliest.
This module will enable officers to scrutinize GST returns of selected centrally administered taxpayers based on data analytics and risks identified by the system.
In the module, the discrepancies due to the risks associated with the returns are displayed.
Tax authorities are provided with a workflow to interact with taxpayers through the GSTN Common Portal regarding discrepancies found under Form ASMT-10.
Action is taken in the form of receipt of taxpayer’s reply in Form ASMT-11 and issue of order of acceptance of reply in Form ASMT-12 or issue of show cause notice or initiation of audit/inquiry.
This automated return scrutiny module has started with the scrutiny of GST returns for FY 2019-20.
The data required for this purpose has already been made available on the dashboard of the officers.

ONGC Makes Major Oil and Gas Discoveries in Mumbai Offshore Block

State-owned Oil and Natural Gas Corporation (ONGC) announced that it has found Crude oil and natural gas in two blocks of the Mumbai offshore region.
ONGC had won these blocks in auctions conducted under the open acreage licensing policy (OALP) regime.
Companies are allowed to select acreages for bidding based on data analysis under the OLAP regime.
These discoveries have been found in ‘Amrit’ and ‘Moonga’ blocks.
Block Amrit is spread over an area of 725 square km and is approximately 100 km from the landfall point.
Block Moonga is spread over 4,668 sq km and is located 30 km from the Mumbai coast.
Both these discoveries have been notified to the Directorate General of Hydrocarbons and their potential is being currently assessed.
ONGC is committed to discover the vast potential of India’s hydrocarbon resources for improving India’s energy security.
The largest producer of petroleum in India is Rajasthan.
Assam and Gujarat are in second and third spots
In India, about 71.35% of natural gas is produced from offshore areas.

ONDC witnesses surge in transactions since January

The number of retail merchants on board ONDC increases from 800 in January to 35,000 in May
The number of daily orders on the Open Network for Digital Commerce (ONDC) crossed the 25,000 mark in first week of May 2023.
ONDC’s network participants increased from 26 in January 2023 to 46.
These include PhonePe’s Pincode and Airpay, companies such as HUL and ITC.
ONDC’s alpha testing commenced in April 2022.
Its beta testing began with grocery and food delivery in Bengaluru in September 2022.
Presently, it is beta-testing in Bengaluru and Meerut and alpha-testing in 236 cities.
In April 2023, NPCI Bharat BillPay launched NOCS platform for processing of ONDC transactions.
The NOCS platform is integrated with banks, fintech and e-commerce players.

CCPA asks e-commerce sites to stop selling car seat belt alarm stoppers clips

CCPA has issued orders against five e-commerce companies for selling car seat belt alarm stopper clips on their platforms.
The names of these e-commerce companies are Amazon, Flipkart, Snapdeal, Shopclues, and Meesho.
The Central Consumer Protection Authority (CCPA) passed orders against these five e-commerce platforms for violation of consumer rights and unfair trade practice.
In a letter to the Department of Consumer Affairs, Ministry of Road Transport and Highways (MoRTH) highlighted the issue of sale of car seat belt alarm stopper clips.
CCPA took cognizance of the matter and referred the matter to DG Investigation (CCPA).
After the investigation report, CCPA directed the e-commerce platforms to permanently delist all car seat belt alarm stopper clips.

About CCPA:

Central Consumer Protection Authority (CCPA) was established with effect from 24th July 2020.
It is headquartered in New Delhi.
Nidhi Khare is current Chief Commissioner of CCPA.
The objective of CCPA is to promote, protect and enforce the rights of consumers as a class.

CURRENT AFFAIRS: MOUS AND AGREEMENT

PTC India, Brookfield Renewables ink MoU for 100 MW solar power

PTC has signed a Memorandum of Understanding (MoU) with Brookfield Renewables for the purchase of 100 megawatts (MW) solar power on a long-term basis.
Brookfield Renewables, one of the world’s largest investors with around 24,000 MW of generating capacity globally, is developing a 400 MW solar power project at the Bikaner solar park in Rajasthan.
The Bikaner solar park is being developed under Brookfield’s $15-billion global transition fund (BGTF) and is expected to be commissioned in phases starting from December 2023.
Under this arrangement, PTC will provide Brookfield Renewables with an assured tariff and payment security, thus playing a vital role in the development of this renewable energy project.

CURRENT AFFAIRS: RANKING AND REPORTS

Hyderabad airport recognised as world’s most punctual airport

According to a report by aviation analytical firm, CIrium, GMR Hyderabad International Airport is the most punctual airport in the world.
The airport has recorded 90.43 per cent on-time performance.
It is the only airport to surpass the 90% mark.
Hyderabad airport has topped the charts both in the ‘Global Airports’ and ‘Large Airports’ categories.
In November 2022, it was ranked fourth in the large airport category with an on-time performance of 88.44 percent.
It was selected based on the actual gate departure service.
More than 5 million flights have been reviewed around the world by Cirium.
The latest technology innovations have been used in the Hyderabad airport for improving performance.
It has implemented the first-ever integrated and centralized Airport Operations Control Center (AOCC) and many modern passenger information systems and technological initiatives.
GMR Hyderabad International Airport ensures on time performance (OTP) for its airline partners through its seamless service like Express Security check- in, Self-Check -in kiosks, E Boarding, video analytics, etc.

CURRENT AFFAIRS: SPORTS NEWS

National football federation declares P.K. Banerjee’s birthday as ‘AIFF Grassroots Day’

The All India Football Federation has decided to observe 23 June as the ‘AIFF Grassroots Day’ in honour of Indian football icon Pradip Kumar Banerjee.

About Pradip Kumar Banerjee

Pradip Kumar Banerjee was the captain of the Indian Football team in 1960 in Rome Olympics.
He is popularly known as P.K.
Pradip Kumar Banerjee played a key role in India’s historic gold medal in the 1962 Asian Games.
Pradip Kumar Banerjee was part of FIFA first coaching course in Japan under the German coach Dettmar Cramer.
He was a recipient of Padma Shri in 1990 and was named Indian Footballer of the 20th Century by IFFHS.
He was honoured with the FIFA Order of Merit, the highest honour awarded by FIFA.
He died on 20 March 2020 due to age-related issues in Kolkata.

About AIFF

All India Football Federation (AIFF) is headquartered in New Delhi.
Kalyan Chaubey is the current president of the All India Football Federation.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day Of Families 2023 – May 15

International Day of Families is celebrated every year on May 15.
The theme of International Day Of Families 2023 is “Families and New Technologies”.
This day is celebrated to raise awareness about the importance of Family
International Day Of Families 2023 was first observed by the United Nations General Assembly (UNGA) in the year 1994.
International Day Of families 2023 was observed as a global observance.
The United Nations focuses on the importance of families like health, wealth, work-life balance, women’s rights, etc.
International Day Of Families 2024 is celebrated as the thirtieth anniversary of International Day Of Families by the United Nations.
In 1985, the Economic and Social Council invites the General Assembly to conduct the forty-first session named “Families in the development process”.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Chief Justice of India DY Chandrachud launches e-filing 2.0 & e-Sewa Kendra for litigants, lawyers

Chief Justice of India (CJI) D Y Chandrachud launched ‘E-filing 2.0’ and told lawyers that the facility for filing cases electronically will be now available round the clock.
The chief justice, who has been advocating for e-courts and e-filing of cases across the country, also inaugurated an ‘e-Sewa Kendra’ on the apex court’s premises.
The facilities will be available to all lawyers 24X7.

CURRENT AFFAIRS : OBITUARIES

Mexican five-time World Cup veteran Antonio Carbajal Passed away

Legendary Mexican goalkeeper Antonio Félix “Tota” Carbajal Rodríguez, the first footballer to play in 5 Fédération internationale de football association (FIFA) World Cups, passed away at the age of 93 in Leon, Mexico.

About Antonio Carbajal :

Antonio Carbajal was born in Mexico City.
He was also called “El Cinco Copas“, in reference to his record of 5 World Cups played.
He played 47 games for the Mexican national team and appeared in World Cups in Brazil in 1950, Switzerland in 1954, Sweden in 1958, Chile in 1962 and England in
After retiring as a player, he became a manager in the 1960s, 1970s, 1980s, and 1990s with Club León, Unión de Curtidores, Atletas Campesinosand Atlético Morelia.
He twice won both the Copa México as Campeón de Campeones with Club Leon in the early 1970s.

Daily CA One- Liner: May 14 & 15

Buddham Saranam Gacchami exhibition was inaugurated in New Delhi
‘Yuva Pratibha-Culinary Talent Hunt’ launched by MyGov in association with IHM, Pusa.
Finance Ministry has included directors of a company as reporting entity under the PMLA for certain activities carried out in the course of business
Corporate Affairs Ministry (MCA) has centralised the striking off process of companies with the establishment of the Centre for Processing Accelerated Corporate Exit (C-PACE
Automated Return Scrutiny Module has been launched by CBIC for GST Returns in ACES-GST Backend Application for Central Tax Authorities
State-owned Oil and Natural Gas Corporation (ONGC) announced that it has found Crude oil and natural gas in two blocks of the Mumbai offshore region
The number of retail merchants on board ONDC increases from 800 in January to 35,000 in May
CCPA has issued orders against five e-commerce companies for selling car seat belt alarm stopper clips on their platforms
PTC has signed a Memorandum of Understanding (MoU) with Brookfield Renewables for the purchase of 100 megawatts (MW) solar power on a long-term basis
According to a report by aviation analytical firm, CIrium, GMR Hyderabad International Airport is the most punctual airport in the world
The All India Football Federation has decided to observe 23 June as the ‘AIFF Grassroots Day’ in honour of Indian football icon Pradip Kumar Banerjee
Bank of Baroda (BoB), one of India’s leading public sector banks, has introduced Electronic Bank Guarantee (e-BG) on its BarodaINSTA platform, in partnership with National E-Governance Services Limited (NeSL), a platform that provides for the issuance of Inland BGs through electronic mode.
The Asian Development Bank (ADB) announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a landmark program which could significantly ramp up support for the region in the battle against climate change.
The Reserve Bank of India (RBI) has imposed a penalty of Rs 2.92 crore on Canara Bank for violation of various norms, including linking interest rates to external benchmarks, and opening savings accounts of ineligible entities.
The Reserve Bank of India (RBI) stated that certain fees/ charges levied by ‘Authorised Persons’ on International Debit Cards, Store Value Cards, among others, and payable in India have to be denominated and settled in Rupees only.
Market regulator Securities and Exchange Board of India (SEBI) through its letter to HDFC Asset Management Company (HDFC AMC) Limited, a subsidiary of HDFC Ltd and the investment manager of HDFC AMC AIF II, has granted its final approval for the proposed change in control of HDFC AMC.
The Reserve Bank of India (RBI) has stated that fees and charges payable in India on forex prepaid cards, store value cards, and travel cards must be denominated and settled in local currency Rupees only.
HDFC Bank, India’s largest private sector bank, and Telangana Academy for Skill and Knowledge (TASK), a not- for-profit organisation under the Department of ITE&C, Government of Telangana have signed a Memorandum of Understanding (MoU) to promote employment of fresh graduates and
RazorpayX, the business banking platform of Razorpay, launched an automated ESCROW+ solution, powered by Axis Trustee Services Ltd, RBL Bank &ICICI Bank.
Union Bank of India (UBI) will start a wealth management vertical in the current financial year.
Higher Education Minister of Kerala Shri R. Bindu formally launched the Kerala Institutional Ranking Framework (KIRF), modelled on the lines of the National Institutional Ranking Framework (NIRF), to assess the quality of higher education institutions in
The annual 5-day-long Great Prayer Festival, “Ladakh Monlam Chenmo,” a mass prayer camp by Buddhist monks and nuns for world peace and happiness is starting in Leh, Ladakh.
The London Stock Exchange Group PLC (LSEG) will set up a technology centre of excellence (CoE) in Hyderabad, which will create about 1,000 jobs a year.
Infrastructure major Larsen & Toubro (L&T) has appointed S N Subrahmanyan, as Chairman and Managing Director (CMD) of the company with effect from October 1, 2023.
Former Speaker Wesley W. Simina was elected as the 10th president of the Federated States of Micronesia (FSM) during the first regular session of the 23rd FSM Congress in
Chief Justice of India (CJI) D Y Chandrachud launched ‘E-filing 2.0’ and told lawyers that the facility for filing cases electronically will be now available round the clock.
Legendary Mexican goalkeeper Antonio Félix “Tota” Carbajal Rodríguez, the first footballer to play in 5 Fédération internationale de football association (FIFA) World Cups, passed away at the age of 93 in Leon, Mexico.
International Day of Families is celebrated every year on May 15.