Current Affairs May 30th 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

Indian Bank empanelled as Clearing and Settlement Bank with Indian Clearing Corporation Limited

• Indian Bank has been empanelled as a Clearing and Settlement Bank with the Indian Clearing Corporation Ltd (ICCL).
• Mahesh Kumar Bajaj, Executive Director, Indian Bank exchanged the agreement with Devika Shah, Managing Director (MD) & Chief Executive Officer (CEO) of ICCL to formalise Bank’s empanelment at a recently held event.
• The public sector bank can now facilitate banking services to members of BSE (formerly Bombay Stock Exchange) for clearing and settlement operations.
• The Indian Bank also launched the electronic term deposit receipt (e-TDR) product for online transmission of fixed term receipts (FDR) and margin with ICCL on behalf of the clearing members with its dedicated branch – Fort, Mumbai, Maharashtra.

About Indian Bank :

• Established : 1907
• Headquarters : Chennai, Tamil Nadu
• MD & CEO : Shri Shanti Lal Jain

Agriculture Insurance Company of India is set to launch insurance products for livestock, aquaculture and sericulture 

• Agriculture Insurance Company of India (AIC) has announced its plans to introduce insurance products for the livestock, aquaculture, and sericulture sectors, following the approval and licensing received from the Insurance Regulatory and Development Authority of India (IRDAI).
• AIC already has a 50% market share in the crop insurance market under Pradhan Mantri Fasal Bima Yojana (PMFBY) scheme which is run by the Centre and state governments.
• In the PMFBY scheme, farmers are required to pay a portion of the premium, while the remaining amount is divided equally between the Central and State governments.
• For the Kharif season, farmers contribute5% of the premium, while during the rabi season, they pay only 1.5%.

About AIC :

• Founded : 2002
• Headquarters : New Delhi, Delhi, India
• Chairman & Managing Director : Girija Subramanian
• AIC is an Indian central public sector undertaking under the ownership of the Ministry of Finance (MoF), Government of India (GoI).
• AIC has a capital base of Rs 200 crore, contributed jointly by GIC Re at 35%, Nabard at 35% and the balance by the 4 public general insurers, National Insurance, United India Insurance, New India Assurance and Oriental Insurance.

LIC reduces its stake in NHPC to 3.19%

• Life Insurance Corporation of India (LIC) cut its holding in National Hydroelectric Power Corporation (NHPC) to 3.19% in the March quarter from 3.48% in the preceding quarter.
• LIC stated in its official report that it sold shares worth ₹832.8 crore between October 18, 2022 and May 23, 2023.
• LIC disclosed that its ownership in NHPC Ltd has decreased from 522.6 million to 319.9 million shares.
• This reduction means LIC’s ownership has gone down from 5.203% in October to 3.19% , as reported by LIC in a regulatory filing.

About NHPC Limited :

• Founded : 1975
• Headquarters: Faridabad, Haryana, India
• Chairman & Managing Director : Shri Rajeev Kumar Vishnoi
• NHPC Limited (erstwhile National Hydroelectric Power Corporation) is an Indian government hydropower board under the ownership of the Ministry of Power, Government of India (GoI).

About LIC :

• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• Chairperson : Siddharth Mohanty

Centre approved digital communication system between banks and CEIB to check Loan Defaults

• According to reports, the Union government has ended the paper-based communication system & introduced a digital communication mechanism between Public Sector Undertakings (PSU) banks & the Central Economic Intelligence Bureau (CEIB) to check Loan Defaults.
• Under this, CEIB will send a report digitally regarding borrowers to the PSU banks for a loan amount of Rs 50 crore or higher at pre-approval stage within 15 days of request.

Key Highlights :

• At present it is mandatory for all the government holding banks to furnish a report from CEIB regarding the loan seekers of Rs 50 crore or more and those who have a pending default, before processing any loans.
• Under the new system the government has introduced a digital system to streamline the process of communication between banks and the CEIB.
• The new system will require banks to submit their requests to CEIB through dedicated emails in a specific format.
• In turn, CEIB will exclusively send reports to banks via email, maintaining a record of the timeline and actions taken by the banks.
• With the new digital mechanism will make the process more smooth and faster with banks just having to place a request with CEIB online and getting final reports within 15 days.

About CEIB :

• Established : July 1985
• Headquarters : New Delhi, Delhi, India
• Director General : Amit Mohan Govil
• The CEIB is responsible to the Department of Revenue, Ministry of Finance (MoF).
• It is an Indian intelligence agency responsible for gathering information and monitoring the economic and financial sectors for economic offences and warfare

CURRENT AFFAIRS: NATIONAL NEWS

The Mumbai Trans Harbour Link Road, the longest sea link in India, is nearing completion

• The Mumbai Trans Harbour Link Road, the longest sea link in India, is nearing completion, and will likely be open to the public by November 2023.
• It starts from Sewri in Mumbai to Chirle in Navi Mumbai.
• The 22-km-long sea link is the longest in the country and the tenth longest in the world.
• The project cost is Rs 17,843 crore.
• The sea link passes through one of the busiest navigational channels leading to Nhava Sheva Port.
• Orthotropic Steel Decks are special steel decks that enable a span (distance between two piers) that is up to three times longer than the norm.
• This is the first time this technology was used in India. This is used for laying the pile foundation.
• MMRDA plans to use High Containment Crash Barriers on the MTHL.
• These are special crash barriers that will push the car back on the road in case of a crash.
• Normal crash barriers only take the impact of a crash.

Prime Minister has inaugurated the new Parliament building

• Prime Minister Narendra Modi will inaugurate the new Parliament building in Delhi.
• The inauguration will include a grand puja, installation of the Sengol, screening of two short films and release of a comm emorative coin and stamp.
• Twenty opposition parties recently issued a joint statement announcing a boycott of the inauguration of India’s new Parliament building.
• The New Parliament House is the new building that will house the Parliament of India.
• It is a part of the Central Vista Redevelopment Project which is undertaken to revamp the Central Vista, which is the central administrative area of the Indian Government located near the Raisana Hills, New Delhi.
• The idea of a new parliament house stemmed from the fear of stability of the existing Parliament building which is around 100 years old.
• The old parliament house was inaugurated on January 1927 by Edwin Lutyens and Herbert Baker.
• The new Parliament, constructed on the lines of the Central Vista buildings, is a triangular structure.
• It is built over an area of 64,500 square metres.
• It houses the Lok Sabha, the Rajya Sabha, the Central Lounge and offices of constitutional authorities.
• The Lok Sabha, based on the theme of the national bird ‘peacock’, will have a capacity of 888 seats.
• The revamped Rajya Sabha hall, based on the theme of our national flower ‘lotus’, will have the capacity to seat 384 people.
• Bimal Patel is the chief architect of the building.
• Tata Projects Limited is the contractor for the construction of the new parliament building.
• The total cost of the construction is ₹862 crores
• A historical sceptre called “Sengol” would be placed at an important spot in the new parliament building.
• Sengol holds historical importance in the legacy of the Indian Parliament. It was first given to the first Prime Minister of India, Jawaharlal Nehru when he took charge of the nation after Independence.
• It will have large committee rooms, with the latest audio-visual systems.
• There will be 92 rooms for the use of the Council of Ministers.
• The new Parliament complex is also ‘divyang-friendly’.
• With a focus on energy efficiency, the new complex is a “platinum-rated green building” and showcases India’s “commitment towards sustainable development.
• It will feature rainwater harvesting and water recycling systems.

Govt issues fresh rules for SPG; ADG to head special force that guards PM

• Ministry of Home Affairs released a new set of rules under the Special Protection Group Act, 1988 (34 of 1988).
• Central government will appoint the officers of All India Services to the SPG on deputation on the same terms and conditions as applicable to the officers of the corresponding ranks in the central government.
• The SPG will have its headquarters in New Delhi.
• Central government shall appoint its director at a level of not less than the additional director general of police from the Indian Police Service.
• Till now, it was headed by an officer of the rank of inspector general.
• Previously, the position was elevated to the rank of additional director general.
• However, there were no fixed rules for this so far.
• Other members of the SPG, excluding the All India services officers, shall be appointed on deputation for an initial period of six years.
• The members may be appointed for the second tenure with the prior approval of the central government.
• The director has powers of general superintendence, direction, command and control, supervision, training, discipline, and administration of the SPG.

About SPG:

• Special Protection Group (SPG) was raised in 1985.
• It provides proximate security to the Prime Minister of India, former Prime Minister and their immediate family members.
• Arun Kumar Sinha is its current Director.
• Its motto is “Shauryam Samarpanam Surakshanam” (i.e. bravery, devotion and protection).

CURRENT AFFAIRS : INTERNATIONAL NEWS

Italy’s Mount Etna volcano spewing smoke and ash in new eruption

• Mount Etna, Europe’s most active volcano, was erupting, spewing ash on Catania, eastern Sicily’s largest city, and forcing a suspension of flights at that city’s airport.
• Italy’s National Institute of Geophysics and Volcanology, or INGV, which closely monitors Etna with instrumentation on the slopes, noted that cloud cover on a rainy day was impeding views of the eruption.
• In early 2021, an eruption of the volcano lasted several weeks.

About Italy :

• President : Sergio Mattarella
• Prime Minister : Giorgia Meloni
• Capital : Rome
• Currency : Euro

Australia To Establish New Consulate General In Bengaluru

• Australian Prime Minister (PM) Mr.Anthony Albanese announced that Australia will now open a new Consul-General in Bengaluru, Karnataka in May, 2023 as part of the efforts of the two countries to enhance bilateral ties.
• The announcement of setting up a new consulate in Bengaluru has been announced after PM Shri Narendra Modi stated that India will open a consulate in Brisbane.

Key Highlights :

• Albanese stated that the opening of the new diplomatic mission in Bengaluru will help in connecting India’s businesses to the fast-growing digital and innovation ecosystem.
• In May,2023 the opening of the Consulate General in Bengaluru will be the fifth (5th) diplomatic mission in India.
• The others are in New Delhi (Delhi), Mumbai (Maharashtra), Chennai (Tamil Nadu) and Kolkata (West Bengal).
• Currently, India has 3 consulates in Sydney, Melbourne and Perth.
• Brisbane currently has an Honorary Consulate of India.
• Also, both the leaders exchanged Memorandum of Understandings (MoUs) on the Mobility, Migration and Green Hydrogen Task Force.

About Australia :

• Prime Minister : Anthony Albanese
• Capital : Canberra
• Currency : Australian dollar

CURRENT AFFAIRS : STATE NEWS

Madhya Pradesh Government Launches Mukhyamantri Seekho-Kamao Yojana Scheme for Unemployed Youths

• The Government of Madhya Pradesh (MP) has unveiled the new scheme named Mukhyamantri Seekho-Kamao Yojana (CM Learn and Earn Scheme) for unemployed youth.

Aim :

• To provide skill training to educated youth of MP.

Key Highlights :

• After registration of the youth in the scheme, they will get a stipend of Rs 8,000 to 10,000 per month, as financial assistance during the period of skill learning in various establishments.
• The scheme has been implemented in MP by providing on-the-job training facilities and at least one lakh youth will be provided training in various establishments.

Eligibility :

• Applicant Should be a Permanent Residents of Madhya Pradesh.
• The Age of Applicant Should be between 18 Years to 29 Years.
• Applicant Should have the Educational Qualification – 12th Pass, ITI Pass, Diploma Holder, Graduate or Higher Degree Holder

Stipend Details :

• Under the scheme, trainees who have passed class 12th will be given a stipend of Rs 8,000, ITI passed Rs 8,500, diploma passed Rs 9,000 and graduates or those with higher educational qualification will get Rs 10,000 per month.
• 75% of stipend will be paid by Direct Benefit Transfer (DBT) to the trainee on behalf of the state government.
• The concerned establishment will have to deposit 25% of the prescribed minimum stipend in the bank account of the trainee.
• After the training, the State Council for Vocational Training (SCVT) certificate will be given by the Madhya Pradesh State Skill Development and Employment Generation Board (MPSSDEGB).
• The Empowered Committee constituted under the chairmanship of the Chief Secretary will operate the scheme.
• Additional Chief Secretary/Principal Secretary of Skill Development and Employment Department will be the member secretary of the committee.
• Additional Chief Secretary/Principal Secretary of Finance, Industrial Policy and Investment Promotion, Micro-Small and Medium Enterprises, Labour, Higher Education and Technical Education Departments will be members of the committee.

About MP :

• Governor : Mangubhai C. Patel
• Chief Minister : Shivraj Singh Chouhan
• Capital : Bhopal
• National Park : Satpura National Park, Kanha National Park,Bandhavgarh National Park
• Wildlife Sanctuary : Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary

Rajasthan CM Ashok Gehlot inaugurates ‘Jungle Safari’ at Jaisamand Wildlife Sanctuary 

• Rajasthan Chief Minister (CM) Shri Ashok Gehlot virtually inaugurated ‘Jungle Safari’ at Jaisamand Wildlife Sanctuary.
• He also addressed the inaugural function of the Peace and Non-violence Cell offices in all districts.
• Peace and non-violence are the basis of culture, harmony, and brotherhood.
• Rajasthan is the only state where Peace and Non-Violence Department exist.

About Jaisamand Wildlife Sanctuary :

• Jaisamand Wildlife Sanctuary is located in the Udaipur district of Rajasthan surrounding Debar Lake.
• The sanctuary harbours leopard, sloth bear, chinkara, wild boar, and a number of birds.
• It was declared a Wildlife Sanctuary in 1957.
• This sanctuary is located beside the man-made lake of the same name.
• It covers a total area of 160 sq km.

About Rajasthan :

• Governor : Kalraj Mishra
• Chief Minister : Ashok Gehlot
• Capital : Jaipur
• National Park : Keoladeo National Park, Ranthambore National Park

Wildlife Sanctuary : Bassi Wildlife Sanctuary, Kumbhalgarh Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOURS

Department of Animal Husbandry and Fisheries, Chandigarh bags Skoch SILVER Award 2023

• Skoch SILVER Award 2023 presented to Department of Animal Husbandry and Fisheries, Chandigarh.
• This award has been given to this department for e-governance in computerized medical records of cattle treatment by the department.
• This is the first project of its kind in the country.
• This web-based application software caters to the veterinary department of five government veterinary hospitals and nine animal husbandry sub-centres in Chandigarh.
• The main objective of this application is to provide facility to the animal parents to register their animals online for services like treatment, vaccination and artificial insemination.
• It also includes maintaining all records of veterinary hospitals and sub-centres like OPD, stock books, daily drug expenditure, and artificial insemination.
• SKOCH Award was established in 2003.
• It is the highest civilian honour of the country presented by an independent organization.

CURRENT AFFAIRS: BUSINESS NEWS

Myntra launches ChatGPT-powered search feature for enhanced product discovery

• Flipkart group-owned fashion commerce platform Myntra has rolled out ‘MyFashionGPT’, a search feature powered by ChatGPT.
• The move aims to help shoppers with better product discovery and drive engagement on the retailer’s app.
• Customers can essentially look up curated looks on the app , say by typing keywords such as “airport looks”, and the system is designed to showcase a host of products including apparel, footwear, bags and sunglasses that consumers can choose from.
• Recently, the company also announced the launch of MyStylist, an AI-based stylist expert to provide customers with expert styling tips and vernacular search in 11 languages on its platform.

About Myntra

• Myntra is a major Indian fashion e-commerce company headquartered in Bengaluru, Karnataka, India.
• The company was founded in 2007-2008 to sell personalized gift items.
• In May 2014, Myntra.com was acquired by Flipkart. CEO: Nandita Sinha.

Nvidia close to becoming first trillion-dollar chip firm after stellar forecast

• Nvidia Corp soared about 25% near a market value of $1 trillion after its stellar forecast showed that Wall Street has yet to price in the game-changing potential of AI spending.
• The surge added to a more than twofold rise in the stock this year and was set to increase the chip designer’s value by about $190 billion to nearly $945 billion.
• That makes Nvidia twice the size of the second-most valuable chip firm, Taiwan’s TSMC.
• Nvidia, the fifth-most valuable US company projected quarterly revenue more than 50% above the average Wall Street estimate and said it would have more supply of AI chips in the second half to meet a surge in demand.

About Nvidia

• Nvidia Corporation is an American multinational technology company incorporated in Delaware and based in Santa Clara, California.
• CEO Jensen Huang.

Record foodgrains production set to cross 330.53 million: Govt

• According to the Third Advance Estimates of Production of major crops for agricultural year 2022-23, released by the Ministry of Agriculture and Farmers’ Welfare Foodgrains production in the country in 2022-23 is estimated at 330.53 million tonnes, the highest ever, and a big jump over 315.61 million tonnes recorded in 2021-22.
• The government has set wheat production target at 112 million tonnes — the Third Advance Estimates put it at 112.74 million tonnes.
• Total rice production in 2022-23 agricultural year is estimated at a record 135.54 million tonnes.
• During 2022-23, production of maize in the country is estimated at (record) 91 million tonnes.
• Total production of pulses during 2022-23 is estimated at 27.50 million tonnes.
• Production of soybean and rapeseed and mustard is estimated at 14.97 million tonnes and 12.49 LMT, respectively, during 2022-23.
• According to the statement, total production of sugarcane in the country during 2022-23 is estimated at a record 494.22 million tonnes, while cotton production is estimated at 34.347 million bales (of 170 kg each).

CURRENT AFFAIRS: RANKING AN INDEX

Kerala, Tamil Nadu, Telangana top states in Covid year, Delhi worst UT: Health index by NITI Aayog

• According to the NITI Aayog’s annual ‘State Health Index’ (5th edition) for the Covid year of 2020-21, the three southern states of Kerala, Tamil Nadu and Telangana emerged as the top performers among the ‘larger states’.
• The NITI Aayog is learnt to have shared the report – the Healthy States Progressive India Report on the Ranks of States and Union Territories – with the Health Ministry.
• It was launched by the NITI Aayog in 2017 to measure the performance of states and UTs on a weighted composite score incorporating 24 health performance indicators clubbed under three domains.
• The Aayog brings out the index (annually) in collaboration with the Union Health Ministry and World Bank.
• The objective of this index is to not just look at the states’ historical performance but also their incremental performance.
• The index encourages healthy competition and cross-learning among States and UTs and nudges states/UTs towards building robust health systems and improving service delivery through their policymaking and resource allocatio
• As a result, the MoHFW had linked the index to incentives under the National Health Mission.
• The ‘Health outcomes’ include indicators like neonatal mortality rate, total fertility rate, sex ratio at birth, immunisation coverage, proportion of institutional deliveries, etc.
• Top performers: Kerala, Tamil Nadu, and Telangana have secured the top three positions in terms.
• Worst performer: Bihar, UP and MP occupy the bottom three positions, ranking 19th, 18th, and 17th, respectively.
• Incremental performance from 2019-20 to 2020-21: Rajasthan, Uttarakhand, and Odisha have emerged as the top three performers among the larger states.
• In the category of smaller states: Tripura has demonstrated the best overall performance, followed by Sikkim and Goa.
• On the other hand, Arunachal Pradesh, Nagaland and Manipur occupy the bottom three positions.
• Among the UTs: Lakshadweep has secured the top position in terms of overall performance, while Delhi has been placed at the bottom.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Senior Judge Ioannis Sarmas Sworn In as Greece’s Caretaker Prime Minister 

• Ioannis Sarmas, a senior judge, was sworn in as Greece’s caretaker prime minister (PM) to lead the country to a repeat election on June 25, 2023.
• Sarmas, 66, took over from centre-right Prime Minister Kyriakos Mitsotakis.
• Sarmas will head a 16-member caretaker government, in which a former Greek ambassador to the U.S Vassilios Kaskarelis, will be Foreign Minister.
• The key finance ministry will be headed by economist Theodore Pelagidis, deputy governor of Greece’s central bank.

About Ioannis Sarmas :

• Ioannis Sarmas was born on March 21, 1957, on the island of Kos,Greece.
• He is the president of the Hellenic Court of Audit, one of Greece’s three top courts, and is expected to form an interim cabinet in the coming days.
• During his national service, he served as an officer in the Greek Air Force from 1984 to 1986.
• He is also a member of the Supreme Special Court of Greece, the highest court for constitutional and judicial conflicts resolution in the country.

About Greece :

• President : Katerina Sakellaropoulou
• Prime Minister : Ioannis Sarmas
• Capital : Athens
• Currency : Euro

Justice SV Gangapurwala sworn in as Chief Justice of Madras High Court

• President Droupadi Murmu, exercising her powers conferred to her by Clause (1) of Article 217 of the Constitution of India 1950, has appointed Justice Sanjay Vijaykumar Gangapurwala as the Chief Justice of the Madras High Court.
• Tamil Nadu (TN) Governor RN Ravi administered the oath of office to the new Chief Justice at the Raj Bhavan.

About Justice Gangapurwala :

• Justice Gangapurwala was born in Maharashtra on May 24, 1962.
• He was appointed as an additional judge of the Bombay High Court in 2010 and was later appointed as the Chief Justice of the Bombay High Court in 2022.
• He was also serving as a part-time lecturer in Madhya Pradesh Law College between 1991 and 2010.

Reliance Chairman Mukesh Ambani Joins UN advisory committee for COP28  

• Billionaire Mukesh Ambani has been appointed as the member of Advisory Committee to the President of the 28th Session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC).
• The United Arab Emirates (UAE) will host the 28th session of the Conference of Parties (COP 28) to the UNFCCC from November 30, 2023, to December 12, 2023 at Dubai Expo City.
• Ambani, the Chairman and Managing Director (CMD) of Reliance Industries, joined the COP28 Advisory Council alongside Larry Fink, Chairman and CEO of BlackRock, Olafur Grimsson, Chairman of Arctic Circle (Former President of Iceland), Laurent Fabius, President of COP21 / Paris Agreement, Former Prime Minister of France, Francesco La Camera, Director General, International Renewable Energy Agency (IRENA), and Bob Dudley, Chair of the Oil and Gas Authority.
• Apart from Sunita Narain, Director General of the Centre for Science and Environment, Ambani is the only Indian on the Advisory Committee to the President of COP28.

Key Highlights :

• The COP28 UAE Advisory Committee brings together climate experts from 6 continents.
• The 31 members of the Committee, who represent policy, industry, energy, finance, civil society, youth, and humanitarian and 65% of whom are from the Global South, will provide guidance and counsel to the COP Presidency in the run-up to COP28 and beyond.
• In January 2023, the UNFCCC Secretariat announced Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, as the COP 28 President-Designate.
• COP, also known as the Conference of Parties, is the primary decision-making body of the UNFCCC.
• The UNFCCC was established in 1992 during the United Nations Conference on Environment and Development, commonly known as the Rio Summit or Earth Summit.
• The UNFCCC Secretariat is located in Bonn, Germany.

5paisa.com appoints Narayan Gangadhar as Chief Executive Officer

• Discount brokerage firm 5paisa Capital Limited (5paisa.com) has appointed former Google executive Narayan Gangadhar as Chief Executive Officer (CEO).

Aim :

• To improve its cutting-edge tech platform and accelerate digital transformation.

About Narayan Gangadhar :

• Gangadhar has over two decades of experience, mostly with global technology companies like Google, Uber and
• He started his career with Microsoft and worked in various engineering roles.
• In February,2023 he resigned as the CEO of Angel One.
• com is a leading discount broker with around 35 lakh customers as at the end of March 2023.
• In December 2022, 5paisa.com announced the merger of the online retail trading business of IIFL Securities with itself in an all-stock deal, which will add over 15 lakh customers to 5paisa.com’s.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation collaborates with Raman Research Institute to build X-Ray Polarimeter Satellite (XPoSat)  

• The Indian Space Research Organisation (ISRO) is collaborating with the Raman Research Institute (RRI), Bengaluru, Karnataka to build the X-Ray Polarimeter Satellite (XPoSat) that is scheduled to be launched later 2023.

What is the XPoSat mission?

• XPoSat will study various dynamics of bright astronomical X-ray sources in extreme conditions.
• It has been billed as India’s first, and only the world’s second polarimetry mission that is meant to study various dynamics of bright astronomical X-ray sources in extreme conditions.
• The other such major mission is NASA’s Imaging X-ray Polarimetry Explorer (IXPE) that was launched in 2021.

How are X-Rays witnessed in space?

• As NASA explains on its website, X-rays have much higher energy and much shorter wavelengths, between 0.03 and 3 nanometers, so small that some x-rays are no bigger than a single atom of many elements.
• The physical temperature of an object determines the wavelength of the radiation it emits.
• The hotter the object, the shorter the wavelength of peak emission.
• X-rays come from objects that are millions of degrees Celsius such as pulsars, galactic supernova remnants, and black holes.

What are XPoSat’s payloads?

• The spacecraft will carry two scientific payloads in a low earth orbit.
• The primary payload POLIX (Polarimeter Instrument in X-rays) will measure the polarimetry parameters (degree and angle of polarisation).
• The payload is being developed by RRI in collaboration with ISRO’s U R Rao Satellite Centre (URSC) in Bengaluru, Karnataka.
• POLIX is expected to observe about 40 bright astronomical sources of different categories during the planned lifetime of XPoSat mission of about 5 years.
• This is the first payload in the medium X-ray energy band dedicated for polarimetry measurements.
• The XSPECT (X-ray Spectroscopy and Timing) payload will give spectroscopic information (on how light is absorbed and emitted by objects).

About ISRO :

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

Daily CA One- Liner: May 30

• Indian Bank has been empanelled as a Clearing and Settlement Bank with the Indian Clearing Corporation Ltd (ICCL).
• Agriculture Insurance Company of India (AIC) has announced its plans to introduce insurance products for the livestock, aquaculture, and sericulture sectors, following the approval and licensing received from the Insurance Regulatory and Development Authority of India (IRDAI).
• Life Insurance Corporation of India (LIC) cut its holding in NHPC to 19% in the March quarter from 3.48% in the preceding quarter.
• According to reports, the Union government has ended the paper-based communication system & introduced a digital communication mechanism between Public Sector Undertakings (PSU) banks & the Central Economic Intelligence Bureau (CEIB) to check Loan Defaults.
• The Mumbai Trans Harbour Link Road, the longest sea link in India, is nearing completion, and will likely be open to the public by November 2023
• Prime Minister Narendra Modi will inaugurate the new Parliament building in Delhi
• Ministry of Home Affairs released a new set of rules under the Special Protection Group Act, 1988 (34 of 1988).
• Skoch SILVER Award 2023 presented to Department of Animal Husbandry and Fisheries, Chandigarh
• Flipkart group-owned fashion commerce platform Myntra has rolled out ‘MyFashionGPT’, a search feature powered by ChatGPT
• Nvidia Corp soared about 25% near a market value of $1 trillion after its stellar forecast showed that Wall Street has yet to price in the game-changing potential of AI spending
• According to the Third Advance Estimates of Production of major crops for agricultural year 2022-23, released by the Ministry of Agriculture and Farmers’ Welfare Foodgrains production in the country in 2022-23 is estimated at 330.53 million tonnes, the highest ever, and a big jump over 315.61 million tonnes recorded in 2021-22
• According to the NITI Aayog’s annual ‘State Health Index’ (5th edition) for the Covid year of 2020-21, the three southern states of Kerala, Tamil Nadu and Telangana emerged as the top performers among the ‘larger states’
• Mount Etna, Europe’s most active volcano, was erupting, spewing ash on Catania, eastern Sicily’s largest city, and forcing a suspension of flights at that city’s airport.
• Australian Prime Minister (PM) Mr.Anthony Albanese announced that Australia will now open a new Consul-General in Bengaluru, Karnataka in May, 2023 as part of the efforts of the two countries to enhance bilateral ties.
• The Government of Madhya Pradesh (MP) has unveiled the new scheme named Mukhyamantri Seekho-Kamao Yojana (CM Learn and Earn Scheme) for unemployed youth.
• Rajasthan Chief Minister (CM) Shri Ashok Gehlot virtually inaugurated ‘Jungle Safari’ at Jaisamand Wildlife Sanctuary.
• Ioannis Sarmas, a senior judge, was sworn in as Greece’s caretaker prime minister (PM) to lead the country to a repeat election on June 25, 2023.
• President Droupadi Murmu, exercising her powers conferred to her by Clause (1) of Article 217 of the Constitution of India 1950, has appointed Justice Sanjay Vijaykumar Gangapurwala as the Chief Justice of the Madras High Court.
• Billionaire Mukesh Ambani has been appointed as the member of Advisory Committee to the President of the 28th Session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC).
• Discount brokerage firm 5paisa Capital Limited (5paisa.com) has appointed former Google executive Narayan Gangadhar as Chief Executive Officer (CEO).
• The Indian Space Research Organisation (ISRO) is collaborating with the Raman Research Institute (RRI), Bengaluru, Karnataka to build the X-Ray Polarimeter Satellite (XPoSat) that is scheduled to be launched later 2023.