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Daily Current Affairs 27th July 2023 Daily GK Update
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National News
India & Argentina signs MoU for bilateral exchange of young researchers
- India and Argentina have agreed to a bilateral exchange of young researchers and Startups, particularly in the field of Biotechnology and Agriculture.
- The two countries also decided to hold comprehensive talks between delegations comprising academia, Research, and Development Institutes, and Industry in the field of Science and Technology and Biotechnology.
- India is the 4th largest trading partner of Argentina, with bilateral trade touching a historic peak of 6.4 billion US dollar in the year 2022, recording a growth rate of 12 percent over 2021.
About Argentina
- Capital: Buenos Aires
- Currency: Argentine Peso
- Official language: Spanish
- President – Alberto Fernández
Recently India signed MoUs with others countries
- India & Sri Lanka sign MoU on cooperation in field of renewable energy
- India & Singapore sign MoU to co-operate on public administration
- Union govt signs an MoU with Tanzania to set up IIT Madras campus
- Israel ties up with IIT-M to set up water technology centre
- India signed an MoU with Israel on Industrial R&D Cooperation
Over 123 lakh passengers travelled on UDAN flights since its inception: Government
- More than 123 lakh domestic passengers have travelled on Ude Desh Ka Aam Nagrik (UDAN) flights since the inception of the scheme, the Minister of State in the Ministry of Civil Aviation Gen V K Singh (Retd) said in a written reply to a question in Rajya Sabha.
- The scheme was initiated in October 2016 with the objective of fulfilling the aspirations of the common citizen, with an enhanced aviation infrastructure and air connectivity in tier II and tier III cities.
- Under UDAN, 148 Airports, including nine heliports and two water aerodromes, have been developed/operationalized till date.
- The govt has also approved the ‘Revival of unserved and under-served airports’ scheme to develop 100 airports, and water aerodromes by 2024.
About Employees’ Provident Fund Organization (EPFO)
- Founded – 4 March 1952
- Headquarters – New Delhi
- EPFO is the statutory body under the ownership of Ministry of Labour and Employment
Centre grants in-principle approval to set up 21 greenfield airports
- The government has approved the establishment of 21 new Greenfield airports across the country.
- These airports will be set up in different regions of the country to enhance connectivity and boost air travel accessibility.
- 11 Greenfield airports have already been made operational. These include Durgapur, Shirdi, Kannur, Pakyong, Kalaburagi, Orvakal (Kurnool), Sindhudurg, Kushinagar, Itanagar, Mopa, and Shivamogga.
- Other approved airports are in Karnataka, Madhya Pradesh, Uttar Pradesh, Gujarat, Puducherry, Andhra Pradesh, West Bengal, Sikkim, and Arunachal Pradesh.
- The state government of Tamil Nadu has applied for the first stage clearance, known as ‘site-clearance,’ to develop a Greenfield airport at Parandur in Kancheepuram District.
CERT-In issues alert on ‘Akira’ ransomware
- CERT-In (Indian Computer Emergency Response Team) has issued a warning about new Internet ransomware named ‘Akira’.
- This computer malware is targeting Windows and Linux-based systems.
- A recently emerged ransomware operation dubbed Akira is reportedly active in cyberspace. This group first steals the information from victims, then encrypt data on their systems and conducts double extortion to force the victim into paying the ransom.
- In case the victim does not pay, they release their victim’s data on their dark web blog.
- This ransomware group has also utilized tools such as AnyDesk, WinRAR, and PCHunter during intrusions, it said, adding these tools are often found in the victim’s environment, and their misuse typically goes unnoticed.
About ICERT
- The agency is the central technology arm to combat cyber-attacks and guards cyberspace against phishing and hacking assaults and similar online attacks.
- It functions as a division within the Ministry of Electronics and Information Technology under the Government of India.
- Director General – Sanjay Behl
What is Ransomware?
- Ransomware is a computer malware that infects and blocks users from using their own data and system and they can get it back against a pay-off.
- The ransomware group is “known to access victim environments via VPN (virtual private network) services, particularly where users have not enabled multi-factor authentication.”
Punjab govt signs MoU with BCEIP to launch online course ‘English for Work’
- The Punjab government has signed a Memorandum of Understanding (MoU) with British Council Education India Pvt Limited (BCEIPL) to expand employment opportunities for the youth, reported Khalsa Vox.
- The MoU was officially signed by the Director of Higher Education Amarpal Singh on behalf of the Punjab Government, and Managing Director of BCEIPL Duncan Wilson.
- Following that, Chief Minister Bhagwant Mann expressed his optimism and highlighted the potential of MoU to open new directions for employment and skills enhancement for the youth.
- Moreover, under the partnership, they will launch a specialized training course “English for Work” for students of government colleges under the Higher Education Department.
- The training program aims to upskill the employability of young individuals, making them more competitive in the job market.
- The “English for Work” course will be offered online and will have a “flipped classroom” approach. It will further aim to blend the flexibility of self-study with interactive live classes.
- In the beginning of this course, around 5,000 students from government colleges will be offered the opportunity to undergo comprehensive training starting from this academic session.
Recent MoUs signed by State Government
- Punjab govt signs MoU with BCEIP to launch online course ‘English for Work
- Himachal Pradesh signs MoU with Oil India Ltd for Green Hydrogen
- Maharashtra govt signs MoU with Bajaj Finserv to invest Rs 5000 cr
- Tata Group signs deal with Gujarat govt for EV battery plant in Sanand, Gujarat
- Odisha govt collaborates with Infosys, Nasscom to enhance the skills and employability of students
Banking and Financial
Govt approves 8.15% interest rate on Employees Provident Fund deposits
- The government has cleared the interest rate for Employees’ Provident Fund (EPF) accounts for the financial year 2022-23.
- The declared interest rate stands at 8.15 percent, as notified by the retirement body Employees Provident Fund Organization (EPFO) in a circular.
- The EPFO has directed all filed offices to credit the interest at a rate of 8.15 percent on EPF for the financial year 2022-23 into the respective accounts of its members.
- The Ministry of Labour and Employment, Government of India, has conveyed the approval of the Central Government under para 60(1) of Employees’ Provident Fund Scheme, 1952 to credit interest@ 8.15 % for the year 2022-23 to the account of each member of the EPF Scheme as per the provisions under Para 60 of EPF Scheme, 1952.
- The EPFO has directed its field offices to credit the interest into the accounts of over 6 crore active members as of March 2023.
About Employees’ Provident Fund Organization (EPFO)
- Founded – 1952
- Headquarters – New Delhi
- EPFO is the statutory body under the ownership of Ministry of Labour and Employment
Canara Bank was top lender to public sector cos in FY23
- Finance Minister Nirmala Sitharaman informed Parliament that during the fiscal year 2022-23, Public Sector Banks (PSBs) extended loans amounting to Rs 4.12 trillion to state-backed corporations and public sector undertakings.
- Canara Bank led the lending during 2022-23 to government-backed entities at ₹187,813 crore during the recently concluded fiscal year.
- Followed by Punjab National Bank (₹70,142.5 crore), State Bank of India ( ₹66,523.2 crore), Bank of India ( ₹25,147 crore), Bank of Baroda ( ₹15,706.8 crore), Union Bank of India ( ₹12,584.8 crore), Bank of Maharashtra ( ₹10,822.7 crore), Indian Bank ( ₹9,021 crore), Indian Overseas Bank ( ₹7,490 crore), Central Bank of India ( ₹3,949 crore), UCO Bank ( ₹2,939.4 crore), Punjab and Sind Bank ( ₹87.7 crore).
- Public sector banks (PSBs) will have to take steps to adopt a focused approach on ease of service delivery and customer protection, follow regulatory norms, adopt robust risk management practices, focus on increasing rural, agriculture and sectoral credit to meet the Priority Sector Lending targets.
- In a meeting held between the top PSB bank executives and top finance ministry officials, including the finance minister, on 6 July, it was decided that the sponsor banks of the Regional Rural Banks (RRBs) will take steps for technological upgradation of the RRBs to make them more efficient.
- Performance under PM SVANidhi scheme, which was started to support COVID-affected street vendors to restart their businesses, was noted, wherein 50.57 lakh loans have been disbursed, amounting to ₹6,482 crore, to 38.5 lakh street vendors as on 20.7.2023.
Banks write off bad loans worth Rs 2.09 lakh crore in 2022-23: RBI
- According to the RBI’s data during the financial year 2022-23, banks wrote off bad loans amounting to over Rs 2.09 lakh crore, contributing to a total loan write-off of Rs 10.57 lakh crore by the banking sector over the past five years.
- This huge loan write-off aided banks to bring down gross non-performing assets (GNPA) – or loans defaulted by borrowers — to a 10-year low of 3.9 percent of advances in March 2023.
- Gross NPAs of banks had fallen from Rs 10.21 lakh crore in FY2018 to Rs 5.55 lakh crore by March 2023, mainly on the back of loan write-offs by banks.
- Banks have written off a whopping Rs 15,31,453 crore (US $ 187 billion) since FY2012-13, as per RBI data.
- Banks recovered only Rs 109,186 crore from Rs 586,891 crore loans written off in the last three years, revealing that they could only recover 18.60 percent of the write-offs during the three-year period.
- The total defaulted loans (including write-offs but excluding loans recovered from write-offs in three years) amount to Rs 10.32 lakh crore, according to back-of-the-envelope calculation.
- Including write-offs, the total NPA ratio would have become 7.47 percent of advances as against 3.9 percent reported by the banks.
IMF revises India’s GDP growth forecast to 6.1% for FY24
- The International Monetary Fund (IMF) has raised the FY24 economic growth forecast for India by 20 basis points to 6.1 percent.
- As per World Economic Outlook, In 2023 the growth rate of India’s economy is estimated to be 6.1 percent, which is 0.2 percentage points higher than what was predicted in April 2023
- Most professional forecasters expect the Indian economy to grow between 6 percent and 6.5 percent in FY24.
- While the Organization for Economic Co-operation and Development (OECD) last month revised upward its forecast to 6 per cent for FY24, the Reserve Bank of India expects the economy to expand at 6.5 per cent in the same financial year.
Updated GDP List
- World Bank – 6.3% (FY24), 6.4% (FY25), 6.5% (FY26)
- MOODY’S. – 5.5% (FY23)
- S&P – 6% (FY24)
- IMF – 6.1% (FY24), 6.3% (FY25)
- ADB – 6.4% (FY24), 6.7% (FY25)
- RBI – 6.5% (FY24)
- India Ratings – 6.9% (FY23)
- FITCH RATING – 6.3% (FY24), 6.7% (FY25)
- FICCI – 7% (FY23), 6.4% (FY24)
- OECD – 6% (FY24), 5.7% (FY24)
Appointment and Resignation
Phangnon Konyak became the first woman to chair the Rajya Sabha from Nagaland
- Phangnon Konyak, the first woman member from Nagaland in the Rajya Sabha, presided over the House.
- Phangnon Konyak became the first woman member to be appointed to the panel of Vice-Chairpersons.
- She is also the first woman to be elected to Rajya Sabha from Nagaland (April 2022) and the second woman from the state to be elected to either house of the Parliament or the state assembly.
- Rajya Sabha Chairman Jagdeep Dhankhar nominated four women members (50% of the total) to the panel of Vice-Chairpersons to promote gender equality.
- All the nominated women members are first-time MPs
- The reconstituted panel now comprises a total of eight members, half of whom are women, a first in the history of the Upper House.
- The nominated women members are as follows – PT Usha, S. Phangnon Konyak, Dr. Fauzia Khan, Sulta Dev
Tenzing Yangki becomes the 1st female IPS officer of Arunachal Pradesh
- Tenzing Yangki has become the first female IPS officer of Arunachal Pradesh who cracked the Union Public Service Commission (UPSC) Civil Services Examination 2022.
- Tenzin Yangki achieved a rank of 545 and has become the first lady IPS officer from Arunachal Pradesh.
- Yangki had earlier cleared the Arunachal Pradesh Public Service Commission (APPSC) exam in 2017.
- Robin Hibu was the first IPS officer from Arunachal Pradesh. He joined as an IPS officer in 1993.
- The state boasts of 11 later entry IPS officers, who have been promoted to the rank of inspector general of police (IGP).
- After the elevation of 2004 batch AGMUT cadre IPS officer C K Mein to IGP rank on 31.03.22 by the MoHA, Arunachal till then had 11 IGPs, including Chukhu Apa, Tussar Taba, Apur Bitin, Kime Kaming, PN Khirmey, Sang Norbu Mosovi, Nabam Gungte, Hibu Tamang, Isaac Pertin, Mari Riba and C K Mein.
Recent Appointment
- CEO and MD of Tata Steel – T V Narendran (reappointment)
- Chairman and MD of Bharat Dynamics – A Madhavarao
- Indian women’s volleyball team new coach – Ravindra Banshtu
- 1st woman to be top Navy officer in US history – Lisa Franchetti
- Chief of International Myeloma Foundation – S Vincent Rajkumar (replace Brian G.M. Durie)
Defence
Air Force Day Parade and Flypast to be held at Prayagraj
- The Indian Air Force will be celebrating its 91st anniversary on 08 October 2023.
- Keeping with the new tradition of hosting the Air Force Day celebrations in different parts of the country, this year’s Air Force Day parade and Air Display will be held in Prayagraj, Uttar Pradesh.
- The ceremonial parade will be conducted at Air Force Station, Bamrauli, while the air display will take place at the Sangam area, the picturesque confluence of the Ganga and Yamuna rivers in Prayagraj.
- The Air Force Day celebrations will commence more than a week before with an air display near Bhojtal Lake in Bhopal on September 30.
- The IAF was officially established on October 8, 1932. Its first aircraft flight came into being on April 1, 1933, with six officers trained by the Royal Air Force (RAF) and 19 “havai sepoys” (air soldiers)
Sports
Tripura’s Asmita Dey wins gold at Junior Asian Judo Championships 2023
- Tripura’s sporting pride 20-year-old, Asmita Dey won the gold medal in the Junior Asia Cup Judo Championship 2023 in Macau, China.
- She competed in the women’s 48 kg category against opponents from 27 different countries.
- The Judo Asian Championship is organized by the Judo Union of Asia.
- The men’s tournament began in 1966 and was held approximately every four years, until 1991.
Max Verstappen clinches Hungarian GP
- Red Bull’s driver Max Verstappen stormed to victory over Lando Norris and Sergio Perez with another commanding performance in the Hungarian Grand Prix.
- McLaren’s Lando Norris was runner-up for the second straight race.
- With the victory the reigning double world champion clinched his seventh straight victory and the Red Bull their 12th in a row beating McLaren’s long-standing record.
- Teammate Perez also furthered his advantage over third-place man Fernando Alonso, who finished a disappointing ninth in Hungary.
Recent Grand Prix Winner
- Hungarian Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- British Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Austrian Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Canadian Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Spanish Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Monaco Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Miami Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Australian Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Bahrain Grand Prix 2023 – Red Bull’s Max Verstappen (Netherlands)
- Saudi Arabian Grand Prix 2023 – Red Bull’s Sergio Pérez (Mexico)
- Azerbaijan Grand Prix 2023 – Red Bull’s Sergio Pérez (Mexico)
India ranked 2nd at ISSF World Championship in South Korea 2023
- India finished 2nd on the medals tally at the recently concluded ISSF Junior Shooting World Championships 2023 in Changwon, South Korea.
- Indian shooters bagged 17 medals, which include 6 Gold, 6 Silver, and 5 Bronze.
- The championships saw 90 Indian shooters vie for medals in pistol, rifle, and shotgun competitions in the under-21 age category.
- The majority of the medalists were Khelo India athletes. Seven Indians managed to bag more than one medal.
- Abhinav Shaw and Kamaljeet won two golds each. Sainyam won three medals — gold in the 10m air pistol women, and a bronze each in the 10m air pistol mixed team and women’s team events.
Important day
27 July 2023 – National Refreshment Day
- National Refreshment Day is observed every year on the fourth Thursday of July and this year celebrated on July 27.
- The day draws our attention to the much-needed destressing activities we need to do for peace of mind and a healthy body.
- National Refreshment Day was first commemorated in 2015 by Traveler Beers. The U.S.-based company was established in 2012.
- The founders wanted to integrate European shandy flavors with American ones in order to bring a refreshing touch and look to the beer scene in America.
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