Table of Contents
Daily Current Affairs 9th June 2023 Daily GK Update
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Government launches MAHIR
- Government has launched Mission on Advanced and High-Impact Research (MAHIR) to quickly identify emerging technologies in the power sector and develop them indigenously for deployment within and outside the country.
- The Mission aims at facilitating indigenous research, development and demonstration of the latest and emerging technologies in the power sector.
- The Mission will be funded by pooling financial resources of the Ministry of Power, Ministry of New and Renewable Energy and various Central Public Sector Enterprises under the two Ministries.
- Any additional funding needed will be mobilized from the central government’s budgetary resources. Planned for an initial period of five years from 2023-24 to 2027-28, the Mission will follow the technology life cycle approach of Idea to Product.
NHPC signs MoU with Maharashtra for renewable energy projects
- State-run NHPC has signed an MoU with the Department of Energy, Maharashtra for the development of Pumped Storage schemes and other Renewable Energy (RE) source projects in the state.
- The MOU envisages development of four Pumped Storage Projects (PSPs) aggregating to 7,350 megawatts (MW), namely Kalu (1,150 MW), Savitri (2,250 MW), Jalond (2,400 MW) and Kengadi (1,550 MW) as well as other RE source projects in the State.
- These projects will attract an investment of about ₹44,000 crores and nearly 7,000 indirect and direct jobs in the state.
- The MoU entails harnessing the Pump Storage Projects as Energy Storage Solutions to achieve the national objective of Energy Transition—500 GW of renewable energy by 2030 and Net Zero by 2070.
- Capital – Mumbai
- Chief Minister – Eknath Sindhe
- Governor – Ramesh Bais
Kerala topped in Food Safety Index
- Union Minister for Health and Family Welfare Dr Mansukh Mandaviya has unveiled the fifth State Food Safety Index on World Food Safety Day.
- The food safety index evaluates the performance of states and union territories across six different aspects of food safety.
- Among the larger states, Kerala secured the top ranking, followed by Punjab and Tamil Nadu.
- Among the smaller states, Goa emerged as the leader, followed by Manipur and Sikkim.
- Additionally, Jammu and Kashmir, Delhi, and Chandigarh secured the first, second, and third ranks respectively among the union territories.
Government approves over Rs 89,000 crore revival package for BSNL
- Union Cabinet has approved the third revival package for BSNL with a total outlay of 89,047 crore rupees, includes an allotment of 4G/5G spectrum through equity infusion
- The authorized capital of BSNL will be increased from 1,50,000 crore rupees to 2,10,000 crore rupees.
- The Cabinet also cleared the allotment of 4G and 5G spectrum for the company through equity infusion.
- With this spectrum allotment, BSNL will be able to provide “pan-Indian 4G and 5G services” as well as 4G coverage in “rural and uncovered villages under various connectivity projects”.
- The telecom operator will also be able to provide fixed wireless access services for high-speed internet and services for captive non-public networks.
- BSNL will emerge as a stable telecom service provider focused on providing connectivity to the remotest parts of India.
- First revival package approved in 2019, amounting to 69,000 crore rupees.
NCPCR launches National Campaign “Addiction Free Amrit Kaal”
- The National Commission for Protection of Child Rights (NCPCR) has launched the “Addiction Free Amrit Kaal” campaign to promote a healthier & addiction-free India.
- The campaign is organized by the NCPCR in partnership with Tobacco Free India, a citizens group.
- The campaign aims to protect children’s rights to have a tobacco and drug-free environment through initiatives, and outreach activities.
Centre approves Rs 12,911 crore for Polavaram Project
- The Central government has agreed to sanction ₹ 12,911 crore to Andhra Pradesh for completing the first phase of Polavaram Project.
- The sanctioned amount of Rs 12,911 crore also includes Rs 2,000 crore for the construction of the diaphragm wall, which was washed away due to flood.
- Polavaram Project is an under-construction multi-purpose irrigation project on the Godavari River in Andhra Pradesh.
About Andhra Pradesh
- Capital – Amaravati
- Chief Minister – YS Jagan Mohan Reddy
- Governor – Abdul Nazeer
Microsoft, AirJaldi Networks collaborate to provide internet access
- Microsoft has collaborated with AirJaldi Networks to provide internet access for underserved communities in 12 states of India, marking a major boost to India’s potential USD 1 trillion internet economy by 2030.
- Under the MoU, the companies will look to advance access to high-speed internet and meaningful connectivity as a fundamental right in collaboration with private, public non-profit sectors.
- It is further underlined in the MoU that they will build solutions for broadband adoption and digital transformation that will, in turn, benefit the underserved communities in rural regions of India.
- Over the next three years, the collaboration’s key focus will be expanding AirJaldi Networks into three new states namely, Telangana, Chhattisgarh and Odisha, with an increase in the number of network locations from 40 to 62 in 12 states
- It will also focus on strengthening AirJaldi presence in nine states by extending the wireless and wired infrastructure and reaching connectivity provision for underserved users.
- IIT-Kharagpur signed MoU with HCL for collaboration in petroleum engineering
- Microsoft joins hands with Skill Development Ministry to train students, teachers
- NTPC Green Energy ties up with HPCL Mittal Energy for green hydrogen
- ICMR signs MoU with AYUSH Ministry for health research in Integrated Medicine
- IBM partners with NASA to convert satellite data into high-resolution maps
- BEL signs MoU with Emjay Control Systems to develop electro-mechanical bollards
Parshottam Rupala starts VII Phase of Sagar Parikarma
- Union Minister for Fisheries, Animal Husbandry, and Dairying, Parshottam Rupala has started the seventh phase of the “Sagar Parikrama” initiative.
- Sagar Parikrama Phase-VII shall cover the coastal areas of Kerala and UT Administration of Lakshadweep.
- The unique initiative aims to visit coastal areas across the entire country through a predetermined sea route, engaging with fishermen, fish farmers, and beneficiaries of government schemes to address their concerns and gather suggestions for the advancement of the fisheries sector.
- The journey of the first phase of “Sagar Parikrama” has started from Mandvi, Gujarat on 5th March 2022 and so far in the Six Phases of Sagar Parikrama, coastal areas of Gujarat, Daman & Diu, Maharashtra, Goa, Karnataka and Andaman & Nicobar have been visited.
Mumbai most expensive city for expats in India
- According to the Mercer’s Cost of Living survey 2023, Mumbai has ranked the most expensive city in India for expatriates.
- After Mumbai, cities like New Delhi and Bengaluru fall on second and third place in the most expensive list for expats list in India.
- The Mercer’s Cost of Living survey was conducted across 227 cities from across five continents.
- In Mercer’s 2023 Cost of Living survey, Mumbai has been positioned at 147 in the global ranking, New Delhi at 169, Chennai (184), Bengaluru (189), Hyderabad (202), Kolkata (211), and Pune (213).
- Globally, Hong Kong, Singapore and Zurich are the most expensive cities for international employees this year.
- The survey measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.
Banking and Financial
RBI Monetary Policy 2023, Repo Rate unchanged
- The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) in its second bi-monthly monetary policy meeting of FY24 decided to leave the repo rate unchanged at 6.5%.
- The MPC voted 5 members to 1 to remain focused on withdrawal of accommodation.
- The RBI also retained FY24 GDP growth forecast at 6.5%, while expects FY24 CPI inflation to be at 5.1%.
- RBI governor Shaktikanta Das said that the net Foreign portfolio investment (FPI) inflows stand at USD 8.4 billion during the current financial year up to June 6 as against net outflows in the proceeding two years where USD 14.1 billion in 2021-22 and 5.9 billion in 2022-23.
- The rupee remained stable since January this year and India’s foreign exchange reserves stood at $595.1 billion as on June 2.
- RBI projects consumer price index inflation for FY24 at 5.1%.
- Real GDP growth projections for the financial year 2023-24 is projected at 6.5 percent with Q1 projections being 8 percent, Q2 projections being 6.5 percent, Q3 projections being 6 percent and Q4 projections being 5.7 percent.
- Monetary Policy Committee decides to keep repo rate unchanged at 6.5%, Standing Deposit Facility Rate remains at 6.25%.
- Marginal Standing Facility Rate and Bank Rate unchanged at 6.75%
- The next meeting of the MPC is scheduled during August 8-10, 2023.
SIDBI signs MoU with HDFC Bank to offer financial solutions to MSMEs
- Small Industries Development Bank of India (SIDBI) has signed an MoU with HDFC Bank for providing financial solutions to MSMEs.
- Under the MoU, SIDBI and HDFC Bank will work together to provide complete financial product and services to the customers under Micro, Small and Medium Enterprises (MSMEs).
- The MoU will facilitate providing complete financial solutions to MSMEs in a seamless manner.
- This arrangement will enable MSMEs to avail financial products and services of both banks.
About HDFC Bank
- Founded – August 1994
- Founder – Hasmukhbhai Parekh
- Headquarters – Mumbai, Maharashtra
- MD & CEO – Sashidhar Jagdishan
- Chairman – Atanu Chakraborty
- Tagline – We understand your world
Recent MoU in Banking Sector
- Wipro launched innovation experience for financial services with Microsoft
- Yes Securities partners with WatchYourHealth to provide investment solutions to healthcare professional
- Equitas SFB partnered with IBM for digital banking platform
- HDFC Bank partners Manipal Global to build up a talent pipeline
- Capital SFB partnered with Max Life to offer life insurance solutions
- Axis Bank partnered with India Shelter Finance for co-lending small loans
Google Pay launches Aadhaar-based authentication for UPI activation
- Google has launched Aadhaar-based authentication for UPI transactions that will allow users to set up their Unified Payments Interface (UPI) pin without a debit card.
- Support for UPI using Aadhaar will work via National Payments Corporation (NPCI).
- Users looking to onboard UPI via Aadhaar will need to ensure their phone numbers registered with UIDAI and their bank are the same, and their bank account is linked with Aadhaar.
- The move is supported by the National Payments Corporation of India (NPCI).
Recent Facilities Launched in Banks & Insurance Sector
- HDFC Bank has introduced a new credit card — Millennia — offering cashback.
- Kotak Bank launches Réserve premium account for the super-rich
- Bank of Baroda launches of Interoperable Cardless Cash
- RBI Governor launches Financial Inclusion Dashboard ‘ANTARDRIHSTI’
- SBI launches Project Kuber in Bengaluru
PhonePe launches Account Aggregator services
- Fintech major PhonePe has introduced Account Aggregator (AA) services following the receipt of Reserve Bank of India (RBI) Non-Banking Finance Companies (NBFC) licence.
- The company launched it through its wholly-owned subsidiary PhonePe Technology Services.
- PhonePe received the Reserve Bank of India’s (RBI) approval to operate as an account aggregator in 2021.
- The account aggregator services will allow Indian consumers to consent to and share all their financial data such as bank statements, insurance policies and tax filings with regulated financial institutions.
- PhonePe Technology Services has also launched its product suite and application programming interface. The fintech company built an account aggregator micro-application within the PhonePe consumer application.
9 June – World Accreditation Day
- World Accreditation Day is observed every year on 9 June.
- This day aims to raise awareness about the value and benefits of accreditation in ensuring competence, reliability, and credibility in industries such as healthcare, laboratories, certification bodies, and conformity assessment services.
- Theme 2023 – Accreditation: Supporting the Future of Global Trade
- World Accreditation Day (WAD) was first celebrated on June 9, 2008.
- It was established by the International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC) as a way to raise awareness of the importance of accreditation and its role in ensuring the quality, safety, and reliability of products, services, and systems.