Table of Contents
Daily Current Affairs 10th May 2023 Daily GK Update
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National News
PM Modi inaugurates projects worth over 5500 crore in Rajasthan
- Prime Minister Narendra Modi has inaugurated and laid the foundation stone for a variety of development projects worth over ₹5,500 crores in Rajasthan.
- Modi dedicates three key national highway projects to the country, including the 114 km (71 miles) six-lane Udaipur-Shamlaji section of NH-48, the 110 km Bar-Bilara-Jodhpur section of NH-25, and the 47 km NH 58E.
- These projects aim to enhance the region’s infrastructure and connectivity, ultimately improving the socioeconomic conditions of local residents.
- The PM also lay the foundation stone for several road construction projects, including the two-lane upgrade in Rajsamand and Udaipur, and the gauge conversion project and new line development from Nathdwara to Nathdwara town in Rajsamand.
PM Modi in News
- PM Modi launched 91 FM Transmitters of capacity of 100 Watt at Diphu in Karbi Anglong district of Assam.
- PM Modi inaugurates NAMO Medical Education and Research Institute in Silvassa
- PM Modi laid foundation stone for first Digital Science Park in Thiruvananthapuram
- PM Modi flagged off India’s first water metro project in Kochi
- PM Modi laid the foundation stone and dedicated to the nation various projects worth 10,900 crore rupees in Guwahati
Uttar Pradesh becomes first state to make digital health cards for children
- The Uttar Pradesh’s Urban Development Department and Lucknow Smart City launched a “School Health Program”.
- Under the pilot project, the School Health Program has been started by Lucknow Smart City in three schools in Lucknow. The official statement read,
- A digital health report card for the overall physical and mental well-being of 1765 municipal school students is also being prepared under the project.
- The benefit of health insurance worth Rs 25,000 is also being given to these children.
About Uttar Pradesh
- Capital – Lucknow
- Chief Minister – Yogi Adityanath
- Governor – Anandiben Patel
Airtel develops Artificial Intelligence based solution to tackle fraud messages
- Bharti Airtel has developed an artificial intelligence (AI)/machine learning-based solution to proactively detect, prevent, and eliminate phishing, spam, and fraud through messaging, and is testing it in partnership with HDFC Bank.
- Direct connectivity has been established between Airtel and HDFC to help secure end-to-end SMS (short messaging service) connectivity and flagging any other route.
- The solution uses an anti-spam filter that can detect and block up to two million messages per day.
- In April 2023 Vodafone Idea (Vi) became the first telecom operator to showcase its anti-phishing solution to Telecom Regulatory Authority of India (Trai) as well as financial regulators the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI).
About Bharti Airtel
- Founded – 1995
- Founder – Sunil Bharti Mittal
- Headquarters – New Delhi
- Chairman – Sunil Bharti Mittal
- MD & CEO – Gopal Vittal
India extends $1 billion credit line for Sri Lanka by a year
- India has extended a $1 billion credit line for Sri Lanka by one year giving the crisis-hit country a backup infusion of dollars for essential imports.
- The credit line, part of about $4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis early last year, was scheduled to end in March.
- Post-negotiations, the credit line was extended until March 2024. There is about $350 million left of the credit line that can be utilized as needed.
About Sri Lanka
- Legislative capital – Sri Jayawardenepura Kotte
- Executive and Judicial capital – Colombo
- Currency – Sri Lankan rupee
- President – Ranil Wickremesinghe
- Prime Minister – Dinesh Gunawardena
MakeMyTrip collaborates with Microsoft
- Digital travel firm MakeMyTrip has collaborated with Microsoft to introduce voice-assisted bookings in Indian languages to make travel planning more inclusive and accessible for its customers.
- This new platform is powered by Microsoft Azure OpenAI and Azure Cognitive Services.
- The new service will enable user interactions and offer personalized travel recommendations based on their preferences.
- Furthermore, it will also help in curating and booking holiday packages based on variable inputs like occasion, budget, activity preferences, time of travel, hotel reviews, etc.
- Currently beta version of this integration has been introduced in English and Hindi for flights and holiday customers and in the next stage there will be voice-assisted booking flow to cover other transport offerings.
- Co-Founder & Group CEO of MakeMyTrip – Rajesh Mago
About Microsoft
- Founded – 1975
- Founders – Bill Gates and Paul Allen
- Headquarters – Washington DC
- Chairman – Satya Nadella
- CEO – Satya Nadella
- President – Brad Smith
International News
Russia stages the 78th Victory Day parade at Red Square, Moscow
- Russia holds the 78th Victory Day parade anniversary at Red Square, Moscow on May 9 to commemorate the historic victory in 1945 when the Soviet Union defeated Nazi Germany in World War II, which is also known as the Great Patriotic War.
- This year’s parade featured more than 10,000 individuals and 125 pieces of weaponry, which were all showcased by the Russian Defense Minister, Sergey Shoigu.
- Victory Day is an important public holiday in Russia as it commemorates the tremendous sacrifices made by the Soviet Union during WWII, where approximately 27 million citizens perished.
About Russia
- Capital – Moscow
- Currency – Rubel
- President – Vladimir Putin
42nd ASEAN Summit begins in Indonesia
- The 42nd Summit of the Association of Southeast Asian Nations (ASEAN) started in Indonesia.
- Theme 2023 – ASEAN Affairs: Epicenter of Growth
- The summit aims to demonstrate the bloc’s hopes and efforts to become the center and driving force behind global development.
- President Joko Widodo, who holds the presidency of the bloc, emphasized the enormous potential of the ASEAN region, which has a total population of around 650 million inhabitants and consistently outperforms the world average in terms of economic growth.
- He called on member countries to unite in terms of production power to make Southeast Asia the center of global growth.
- ASEAN is an organization formed by the governments of Malaysia, Indonesia, the Philippines, Thailand, and Singapore in 1967.
Petersberg Climate Dialogue 2023
- The Petersberg Dialogue 2023 on Climate Change has been held in Berlin, Germany.
- The PCD series was co-hosted in Berlin by the German Federal Foreign Office and the United Arab Emirates – the incoming COP28-Presidency.
- Delegates from 40 countries attended this year’s high-level dialogue series, the 14th such event. Its central goal is to strengthen trust both in multilateral climate negotiations and between states.
- 2023 is the year of Global Stocktech. The Global Stocktake is essentially a periodic review of global climate action aimed at assessing whether current efforts will enable us to reach the objectives set out in the Paris Agreement.
Banking and Financial
27th Meeting of the Financial Stability and Development Council
- Union Finance and Corporate Affairs Minister Nirmala Sitharaman chaired the 27th Meeting of the Financial Stability and Development Council (FSDC) in New Delhi.
- During the meeting of the Council, it was discussed that necessary policy and legislative reform measures can be formulated to further develop the financial sector.
- Union Finance Minister Smt. Sitharaman advised that-
Regulators should maintain a constant vigil as ensuring ‘financial sector stability is a shared responsibility’ of the regulators. Regulators must take appropriate and timely action to mitigate any vulnerability and strengthen financial stability.
Regulators should adopt a focused approach to reduce the compliance burden further and ensure a streamlined and efficient regulatory environment. The progress achieved in this regard shall be reviewed by the Union Finance Minister with each regulator in June 2023.
The regulators need to be proactive and ensure cyber-security preparedness of the information technology systems to reduce the risk of cyber-attacks, protect sensitive financial data, and maintain overall system integrity, thus safeguarding the stability and resilience of the Indian financial ecosystem.
Regulators should conduct a special drive to facilitate the settlement of unclaimed deposits and claims in the financial sector across all segments, such as banking deposits, shares and dividends, mutual funds, insurance, etc.
Action Taken Report on Budget announcements made since 2019 was discussed. A focused approach should be adopted by the regulators to implement the announcements made in the Budget 2023-24, for which timelines were also decided.
RBI imposes 1.73 crore penalty on HSBC
- RBI has imposed a monetary penalty of Rs 1.73 crore on Hongkong and Shanghai Banking Corporation Ltd (HSBC) for contravention of Credit Information Companies Rules, 2006.
- This action is based on 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.
- Besides, the RBI imposed a monetary penalty of Rs 2 lakh on the Trichur Urban Co-operative Bank Ltd, Thrissur, Kerala for non-compliance with directions issued by the central bank on Management of Advances – UCBs.
- RBI has also imposed a monetary penalty of Rs 1.25 lakh on Bhilai Nagarik Sahakari Bank Maryadit, Bhilai (Chhattisgarh) for contravention of/non-compliance with the provisions of the Banking Regulation Act, 1949, and the Depositor Education and Awareness Fund Scheme, 2014.
About Reserve Bank of India (RBI)
- Founded – 1 April 1935
- RBI Nationalized – 1 January 1949
- Headquarters – Mumbai, Maharashtra
- RBI set up – Hilton Young Commission
- 1st Governor – Sir Osborne Smith (Australia)
- 1st Indian Governor – CD Deshmukh
- 25th Governor – Shaktikanta Das
- RBI Deputy Governor (4) – 1. Tavarna Rabi Sankar
- Mukesh Kumar Jain
- Michael D Patra
- M Rajeshwar Rao
Fitch lowered India’s GDP growth forecast to 6% for 2023-24
- Fitch Ratings has predicted India’s GDP growth forecast for 2023-24 to 6% from 6.2% and 6.7% in 2024-25.
- Reason – Citing headwinds from elevated inflation and interest rates along with subdued global demand.
- The rating firm has also re-affirmed India’s long-term foreign-currency issuer default rating at ‘BBB-’ with a stable outlook.
- A ‘BBB’ issuer default rating indicates that expectations of default risk are currently low and payment capacity to meet financial commitments is considered adequate, but adverse business or economic conditions are more likely to impair this capacity.
Updated GDP List
- World Bank – 6.3% (FY24)
- MOODY’S. – 5.5% (FY23)
- S&P – 7% (FY24), 6.3% (FY25)
- IMF – 5.9% (FY24), 6.8% (FY25)
- ADB – 6.4% (FY24), 6.7% (FY25)
- RBI – 6.8% (FY23)
- India Ratings – 6.9% (FY23)
- FITCH RATING – 6 (FY23), 6.7% (FY24)
- FICCI – 7% (FY23), 6.4% (FY24)
- OECD – 6.6% (FY23), 5.7% (FY24)
- CRISIL – 6% (FY24)
- NSO – 7%
Sports
Praveen Chithravel sets national record in triple jump in Cuba
- Indian triple jumper Praveen Chithravel won the men’s triple jump event at an athletics meet in Havana, Cuba with a national record-breaking mark of 17.37m.
- The previous men’s triple jump national record of 17.30m was set by Renjith Maheswary at the third Indian Grand Prix in Bangalore in 2016.
- Praveen Chithravel achieved his record-breaking mark with his fifth jump at the Prueba de confrontacion 2023 with a headwind reading of -1.5m/s. The permissible wind assistance for official records is +2.0m/s
Fakhar Zaman, Naruemol Chaiwai won ICC players of the month
- Pakistan star Fakhar Zaman has won the ICC Men’s Player of the Month for April 2023.
- Fakhar led Pakistan’s charge to their second-highest ODI run chase in Rawalpindi late in the month. The opener hit an unbeaten 180 to help Pakistan chase down a 337-run target against visiting New Zealand to take a 2-0 lead in the series.
- Meanwhile, Thailand batter Naruemol Chaiwai has been adjudged the ICC Women’s Player of the Month for April 2023.
- Thirty-two-year-old Chaiwai turned into the rock of Thailand’s middle order, underlined by reliable innings across her team’s ODI series win against Zimbabwe.
- The right-hander struck two unbeaten half-centuries in the 3-0 series win, the first saving Thailand from a precarious position of 21/4, finishing 57* as the hosts fell to 154 all out.
ICC Men’s Player of the Month
- November 2022 – Jos Buttler (England)
- December 2022 – Harry Brook (England)
- January 2023 – Shubman Gill (India)
- February 2023 – Harry Brook (England)
- March 2023 – Shakib Al Hasan (Bangladesh)
ICC Women’s Player of the Month
- November 2022 – Sidra Ameen (Pakistan)
- December 2022 – Ashleigh Gardner (Australia)
- January 2023 – Grace Scrivens (England)
- February 2023 – Ashleigh Gardner (Australia)
- March 2023 – Henriette Ishimwe (Rawanda)
Important day
10 May – International Day of Argania
- International Day of Argania or International Day of the Argan Tree is observed every year on 10 May.
- Objective – To promote awareness and understanding of the argan tree’s environmental importance worldwide.
- This holiday was established by UNESCO in 2021.
- In 1988, UNESCO declared the Arganeraie Biosphere Reserve, which is the endemic production area of the argan tree, as a designated area.
- Additionally, in 2014, UNESCO inscribed all the knowledge and know-how regarding the argan tree on the Representative List of the Intangible Cultural Heritage of Humanity.
Obituary
Renowned Bengali author Samaresh Majumdar passes away
- Renowned Bengali author Samaresh Majumdar passes away at the age of 79.
- Born on March 10, 1944, novelist Majumdar is best known for his ‘Animesh’ series.
- He was first published in the year 1967- a novel named ‘Dour’ (Run). One of his works was even was adapted into the 2013 film ‘Arjun-Kalimpong E Sitaharan’.
- Majumdar is also known for ‘Uttoradhikar’, ‘Kaalpurush’, ‘Satkahan’, and ‘Adventures of Detective Arjun’.
- The writer-poet has innumerable accolades under his belt, including Sahitya Akademi Award which he won for ‘Kalbela’ in 1984.
- Apart from this, he has been conferred the Anand Award and Bankim Award. In 2018, the West Bengal government honoured him with the ‘Banga Bibhushan’ award.
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