Current Affairs 28 & 29 May 2023

We are here for you to provide the important Recent and Latest Current Affairs 28 & 29 May 2023, which have unique updates of Latest Current Affairs 2022 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Union Health Minister Mansukh Mandaviya Launched National Medical Devices Policy, 2023 & Other InitiativesOn May 26, 2023, the Union Minister Mansukh Mandaviya, Ministry of Health and Family Welfare (MoHFW), unveiled the National Medical Devices Policy, 2023, and launched the Export Promotion Council for Medical Devices during the inaugural event of the 8th International Conference on Pharma and Medical Device Sector in New Delhi, Delhi.

• Mansukh Mandaviya also launched a scheme titled ‘Assistance for Medical Devices clusters for Common Facilities (AMD-CF)’ to establish and strengthen common infrastructure facilities in the medical devices clusters and fortify testing facilities for medical devices.
• Mansukh Mandaviya inaugurated the 8 International Conference on Pharma and Medical Device Sector which was organized by the Department of Pharmaceuticals,  Ministry of Chemicals and Fertilizers, in association with the Federation of Indian Chambers of Commerce and Industry (FICCI) for 2 days to promote India as a manufacturing hub of quality medical products in the pharmaceutical and Medical Device Sector.

About Ministry of Health and Family Welfare:
Union Minister – Mansukh Mandaviya (Rajya Sabha – Gujarat)
Minister of State (MoS) – Dr. Bharati Pravin Pawar
>> Read Full News

PM Modi flags off Uttarakhand’s 1st Vande Bharat train: Dehradun-Delhi Prime Minister (PM) Narendra Modi virtually flagged off Uttarakhand’s 1st semi-high-speed Vande Bharat Train connecting Dehradun with Delhi.
The inaugural run of the train connects Dehradun to Delhi’s Anand Vihar terminal.

• This will be the 6th Vande Bharat train connecting Delhi from a different state.
• This also marks the 18th Vande Bharat train in India.

PM Modi also dedicate the newly electrified rail line sections in Uttarakhand. with this Uttarakhand will have its entire rail route 100% electrified.
About Uttarakhand:
Chief Minister– Pushkar Singh Dhami
Governor– Gen. (Retd.) Gurmit Singh
UNESCO Heritage Site– Nanda Devi and Valley of Flowers National Parks
Festival– Kanwar Yatra; Bissu Mela
>> Read Full News

MoRD Minister Giriraj Singh launches SAMARTH campaign to Promote Digital Transactions at Gram Panchayat LevelOn May 25, 2023, a Campaign on Promoting Digital Transactions in 50000 Gram Panchayats namely ‘SAMARTH’ under the Azadi Ka Amrit Mahotsav was launched in Lucknow, Uttar Pradesh (UP) by the Union Minister Giriraj Singh, Ministry of Rural Development (MoRD) & Panchayati Raj.

• This campaign was already initiated on February 1, 2023, by the MoRD to promote digital transactions at the Gram Panchayat level in rural areas, and will continue till 15 August 2023.
• The event was addressed by the UP Chief Minister (CM) Yogi Adityanath.

The key thrust of the campaign is to promote Digital Transactions in rural areas, particularly among women.

Key Points:
i.The Non-Performing Assets (NPA) of Self-Help Groups (SHGs) has decreased from 9.58% in 2013 to below 2% presently.
ii.The BC (Banking Correspondent) Sakhis in UP brought digital transformation to the tune of 5 Crore 57 lakh transactions.

• They helped rural masses encash over Rs 75,000 Crore of Government DBT (Direct Benefit Transfer).

iii.During the event, Biometric PoS (Point of Sale) machines and Certificate of On-boarding were distributed to newly selected BC Sakhis.
What is BC Sakhi?
In May 2020, the BC Sakhi Yojana was launched by the CM of UP to benefit the women residents of the state by providing employment possibilities through this scheme.

• Under the scheme, the state govt deploys BC Sakhi in rural regions to eliminate the need for rural residents to travel to the bank as Sakhi delivers the money to their doorstep.

Shailesh Kumar Singh, Secretary, Ministry of Rural Development, has briefed about the milestones which are set as well as being achieved under the campaign SAMARTH by Deendayal Antyodaya Yojna- National Rural Livelihoods Mission (DAY-NRLM) under the Ministry of Rural Development. 

A compendium of 75 Inspirational Tales of BC Sakhis along with live testimonies of transformations in the lives of BC Sakhis was released during the event.

About Ministry of Rural Development (MoRD):
Union Minister– Giriraj Singh (Constituency- Begusarai, Bihar)
Minister of State (MoS)– Sadhvi Niranjan Jyoti, Faggan Singh Kulaste

INTERNATIONAL AFFAIRS

UNICEF/WHO/The World Bank Group’s JME 2023 Report: 18.7% Indian Children were Affected by Wasting According to  ‘ Levels and trends in child malnutrition: United Nations Children’s Fund/World Health Organization/International Bank for Reconstruction and Development, The World Bank Group: the Joint Child Malnutrition Estimates (UNICEF/WHO/The World Bank Group: JME) key findings of the 2023 edition’ report released on May 23, 2023, 18.7% of Indian children were affected by wasting in 2020 due to poor nutrient intake and/or recurrent illnesses.

• In 2022, globally, 148.1 million children under the age of 5 years were stunted, 45 million wasted, and 37 million overweight.

Key Findings of the Report:
i.India is the largest country in southern Asia, which has half of all children with wasting in the world live.
ii.In 2022, an estimated 45 million children under five (6.8%) were affected by wasting globally, of which 13.6 million (2.1%) were suffering from severe wasting.
iii.More than three quarters of all children with severe wasting live in Asia and another 22% live in Africa.
iv.India had a stunting rate of 31.7% in 2022, compared to 41.6 % in 2012, a decade ago.
v.India had an overweight percentage of 2.8% in 2022, compared to 2.2% in 2012.
About United Nations Children’s Fund (UNICEF):
Executive Director – Catherine M. Russell
Headquarters – New York, USA
Establishment – 1946
>> Read Full News

BANKING & FINANCE

SEBI sets up Intermediary Advisory Committee Chaired by former SEBI ED S Ravindran 

On May 25, 2023, the Securities and Exchange Board of India (SEBI) constituted a 21-member Intermediary Advisory Committee chaired by the former SEBI executive director(ED) S Ravindran.

• The committee will advise SEBI on changes in legal framework and increasing transparency in the functioning of market intermediaries like stock exchanges, depository participants, clearing corporations, among others.

Note: S Ravindran handled the charge of SEBI’s Corporation Finance Department. He had also headed departments related to investment management, and foreign institutional investors and custodians.
Members:
i.The committee has representation from the broking community, legal, and financial institutions which include Ashish Chauhan, Managing Director (MD) and Chief Executive Officer (CEO) of National Stock Exchange (NSE); Sundararaman Ramamurthy, MD & CEO of Bombay Stock Exchange (BSE); Vijay Mehta, President of brokers’ body Association Of National Exchanges Members Of India (ANMI).
ii.Member-Secretary – Jeevan Sonparote, Chief General Manager, SEBI.
Click here for the full list of 21 Members
Responsibilities of Committee:
i.To provide guidance to SEBI on matters relating to regulation of stock brokers, depository participants, clearing members, non-mutual fund Registrar and Transfer Agents (RTAs), Investments Advisors (IAs), Research Analysts (RAs), and KYC Registration Agency (KRAs)
ii.To suggest measures for improving market safety, efficiency, transparency and integrity
iii.To observe new market development and suggest measures
iv.To advise on greater adoption of technology and cyber security by intermediaries, including in respect of compliances
v.Any other matter that the Committee considers relevant
SEBI follows a recommendation process of the committee before introducing the proposals for stakeholder comments through a consultation process.
About Securities and Exchange Board of India (SEBI):
SEBI was constituted as a non-statutory body in 1988 and later it was established as a statutory body in the 1992.
Chairperson– Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra

RBI approves the voluntary amalgamation of Maratha Co-op Bank with Cosmos Co-operative Bank

On May 26, 2023, The Reserve Bank of India (RBI) sanctioned the merging of Maratha Sahakari Bank  Ltd., Mumbai (Maharashtra) with the Cosmos Co-operative Bank Ltd, Pune (Maharashtra), the second largest urban cooperative bank of India through Voluntary scheme of amalgamation from May 29, 2023, in exercise of its powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation (BR) Act, 1949.

• In accordance with the scheme, all the 7 branches of Maratha Sahakari Bank Ltd., will function as branches of The Cosmos Co-operative Bank Limited.
• Voluntary scheme of amalgamation: A voluntary scheme of amalgamation refers to a merger or consolidation of two or more companies based on their mutual agreement and voluntary decision. The Companies Act, 2013, governs the process and regulations related to amalgamations and mergers in India.

Key Points:

i.Maratha Sahakari Bank was founded in 1946 and has seven branches in Mumbai. RBI had placed Maratha Sahakari Bank under Directions under Section 35 of the BR Act, 1949, on August 31, 2016. The Directions were extended from time to time and the final extension was made on February 28, 2023, till March 31, 2023.

• The bank earned a net profit of Rs 3.81 crore in FY22 and had accumulated losses of Rs 52.43 crore as on 31st March 2022.

ii. By the end of March 2022, the Cosmos Co-operative Bank, operating as a multi-state urban co-operative bank with a network of 140 branches across seven states, recorded deposits totalling Rs 16,522 crore and advances amounting to Rs 12,293 crore.
About Reserve Bank of India (RBI):
Governor– Shaktikanta Das
Deputy Governors– Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Headquarters– Mumbai, Maharashtra
Establishment– 1st April 1935

Indian Bank Empanelled as Clearing & Settlement Bank with ICCL

On May 27, 2023, Indian Bank signed an agreement with Indian Clearing Corporation Limited (ICCL) as its clearing and settlement bank. Indian Bank will now facilitate banking services to members of BSE (formerly Bombay Stock Exchange) for clearing and settlement operations.

• Mahesh Kumar Bajaj, executive director of Indian Bank, exchanged the agreement with Devika Shah, MD and CEO of ICCL.
• Clearing members can open settlement accounts with the Indian Bank for fund settlement under the equity derivatives segment.
• 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 Fort Mumbai branch.

ECONOMY & BUSINESS

TCS-led Consortium Bags Rs 15,000 crore BSNL Contract for 4G Deployment

The Tata Consultancy Service Limited (TCS)-led consortium has received an advance purchase order worth Rs 15,000 crore from Bharat Sanchar Nigam Ltd. (BSNL), a central public sector undertaking (PSU) under the Department of Telecommunications, Ministry of Communications, for the deployment of a 4G network across India.

• The consortium, consisting of Tejas Network Ltd., the Centre for Development of Telematics (C-DOT), and the central PSU, ITI Ltd. (formerly known as Indian Telephone Industries Limited), has won the bid for BSNL’s pan-India 4G project. Around 75% of the deal value will go to TCS.
• Tejas Networks, Tata Group’s domestic gear company, will supply and service RAN equipment.

Note: The deadline fixed by the union government to BSNL for rolling out 4G services is August 2023, and the deadline for 5G services is the end of 2023.

AWARDS & RECOGNITIONS        

Princess Sophia Duleep Singh London home honoured with Commemorative Blue Plaque On May 26 2023, the London home of Princess Sophia Duleep Singh, a suffragette Indian princess, Red Cross nurse, and critic of British rule in India,  was honoured with the English Heritage’s commemorative Blue Plaque in London, the United Kingdom (UK).

• The blue plaque is erected at Faraday House, 37 Hampton Court Road, Richmond, London, where Princess Sophia Duleep Singh lived for over five decades.
• Princess Sophia Duleep Singh was a member of the Women’s Social and Political Union (WSPU), the militant group led by Emmeline Pankhurst, a British political activist who organised the UK suffragette movement.
• Faraday House, was granted to Princess Sophia and her sisters as a grace and favour apartment in Hampton Court Palace southwest of London by Queen Victoria.

Note: Faraday House is named after another former resident, the eminent English physicist Michael Faraday (1791–1867).
About London’s Blue Plaque:
i.London’s Blue Plaque scheme, run by the English Heritage charity, celebrates the links between the historical figures of the past with the buildings of the present. It was started in 1866 it has inspired many similar schemes in the UK and around the world.
ii.The blue plaque recipients are recognised across several fields, including the arts, music, social reform and activism.
Note: In 2022, the London home of Dadabhai Naoroji got a Blue Plaque.
About Sophia Duleep Singh:
i.Sophia Duleep Singh was Sher-e-Punjab Maharaja Ranjit Singh’s granddaughter and the daughter of Maharaja Duleep Singh, the last ruler of the Sikh empire and the goddaughter of Queen Victoria.
ii. From 1909 she was active in the WSPU Richmond and Kingston district branches in the UK.
iii. In 1910, she was also a part of the action on “Black Friday”, where more than 300 Suffragettes marched on Parliament.

• Suffragette is a woman seeking the right to vote through organized protest.

iv. She supported the Indian Women’s Education Association in London (UK) and nursed Indian soldiers during World War I and housed refugees during World War II.
v.Sophia Duleep Singh, the last princess of the Sikh Empire died in August 1948.

APPOINTMENTS & RESIGNATIONS  

Srikrishnan Hari Hara Sarma appointed as MD & CEO of Karnataka Bank     On May 26 2023, Karnataka Bank, one of the leading South Indian Private sector banks, appointed Srikrishnan Harihara Sarma as its new Managing Director (MD) and Chief Executive Officer (CEO) for a period of 3 years with effect from the date of his assuming charge.

He succeeds Sekhar Rao, who has been serving as the Interim MD and CEO of Karnataka Bank since April 2023.

• Following the approval from the Reserve Bank of India (RBI), the board of directors has appointed Sarma as an additional director to take up the role as MD & CEO.
• As per SEBI (LODR) (Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements)) Regulations, 2015, appointment is subject to approval of shareholders at the Annual General Meeting or within three months from the date of assuming charge.

About Srikrishnan Harihara  Sarma:
i.Srikrishnan Harihara Sarma has nearly four decades of experience spread across Commercial, Retail, and Transactional Banking, Technology and Payments.
ii.Prior to joining Karnataka Bank, he has served at various key positions at HDFC Bank Limited, Yes Bank Limited and Jio Payments Bank Limited.

• At HDFC bank, he was part of the founding management team for over nine years and as the country head.
• He served as the Executive Director and a member of the Board at Yes Bank Limited.
• He served as the MD & CEO of Jio Payments Bank Limited and was responsible for the application and coordination for approval of licence with the RBI, Incorporation of the company, formation of the board, strategic direction, and commencement of operations in 2018.

About Karnataka Bank:
Incorporated in– 18 February 1924 (Commenced Business on 23-05-1924)
Chairman– P Pradeep Kumar (Part time)
Headquarters– Mangaluru, Karnataka   

Mukesh Ambani, CMD of Reliance Industries appointed as member of Advisory Committee of COP28On May 26 2023, Mukesh Ambani, the Chairman and Managing Director (CMD) of Reliance Industries has been appointed as a member of the 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).

• Mukesh Ambani is the only Indian, other than Sunita Narain, Director General, Centre for Science and Environment, on the Advisory Committee to the President of COP28.
• The United Arab Emirates (UAE) will host the COP28 Advisory Committee from November 30 to December 12, 2023 in Dubai, UAE that brings together the climate expertise of thought leaders from countries across 6 continents.

Committee board:
i.Mukesh Ambani joined other significant global leaders on the COP28 Advisory Council such as: 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); Bob Dudley, Chair of the Oil and Gas Climate Initiative (OGCI), former CEO of BP (The British Petroleum Company Public Limited).

• In January 2023, the UNFCCC Secretariat announced the appointment of Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and UAE Special Envoy for Climate Change, as President-Designate of COP 28.

ii.The 31 members of the Committee representing: Policy, Industry, Energy, Finance, Civil Society, Youth, and Humanitarian action, of which 65% are from the Global South, and they will provide guidance and counsel to the COP Presidency in the run-up to COP28 and beyond.

iii.The panel will inspire collaborative and transformative action across adaptation, mitigation, finance, loss and damage, food and agriculture, and nature-based solutions.

The 2023 UN Climate Change Conference:

The United Nations (UN) Climate Change Conferences are yearly conferences held in the framework of the UNFCCC. They serve as the formal meeting of the UNFCCC parties (COP) to assess progress in dealing with climate change.

• The COP Presidency rotates among the five recognized UN regions – that is, Africa, Asia, Latin America and the Caribbean, Central and Eastern Europe and Western Europe

The 2023 UN Climate Change Conference which will convene from November 30 to December 12, 2023 will comprise the following events.

• The 28th meeting of the Conference of the Parties (COP 28);
• The 5th meeting of the COP serving as the Meeting of the Parties to the Paris Agreement (CMA 5);
• The 18th meeting of the COP serving as the Meeting of the Parties to the Kyoto Protocol (CMP 18);
• The 59th meeting of the Subsidiary Body for Implementation (SBI 59); and
• The 59th meeting of the Subsidiary Body for Scientific and Technological Advice (SBSTA 59). 

Note – COP28 drives global transformation towards a low-emission and climate-resilient world, promotes ambitious climate action and facilitates implementation, including the related support.         

Parminder Chopra to Become 1st Woman CMD of Power Finance Corporation

Parminder Chopra is set to become the first woman Chairman and Managing Director (CMD) of the Power Finance Corporation (PFC), India’s largest non-banking financial company (NBFC) and a Central Public Sector Undertaking(PSU) under the Ministry of Power.

• The Public Sector Enterprise Board (PESB) has recommended Parminder Chopra for the role of CMD of PFC.
• She will succeed Ravinder Singh Dhillon, who is set to retire on 31st May 2023.

Chopra has over 35 years of experience in the power sector, including at the National Hydroelectric Power Corporation of India (NHPC) and the Power Grid Corporation of India (PGCIL).

• She has been serving as a Director (Finance) of PFC since July 2020.

SCIENCE & TECHNOLOGY

Rocket Lab launches 2nd pair of CubeSats for NASA’s TROPICS mission; NASA Completes 1st Globetrotting SuperBIT Balloon Flight to SHi.On May 25, 2023, the Rocket Lab USA Inc.’s Electron two-stage rocket launched the second and final pair of shoebox-sized weather-tracking satellites called CubeSats for NASA’s (National Aeronautics and Space Administration) TROPICS (Time-Resolved Observations of Precipitation structure and storm Intensity with a Constellation of Smallsats) mission from Launch Complex 1 at Māhia Peninsula, New Zealand.

• The CubeSats were launched to low Earth orbit to collect tropical storm data more frequently than other weather satellites and improve tropical cyclone forecasts.
• The launch was named ‘Coming To A Storm Near You’

ii.On May 25, 2023, NASA’s globetrotting SuperBIT balloon carrying the Super Pressure Balloon Imaging Telescope (SuperBIT) successfully completed a flight test after returning to Earth. With this, it became the first science mission of NASA to complete two full revolutions of the Southern Hemisphere (SH) floating at mid-latitudes. The mission was completed in 39 days and 14 hours.
About National Aeronautics and Space Administration (NASA):
NASA is an independent agency of the government of the United States of America(USA) which is responsible for the civil space program, aeronautics research, and space research.
Administrator– Bill Nelson
Headquarters– Washington, D.C., USA
>> Read Full News

Indian Navy & ISRO Jointly Released ‘Gaganyaan Recovery Training Plan’ at WSTF INS GarudaOn May 24, 2023, the Indian Navy along with Indian Space Research Organisation (ISRO) released a ‘Gaganyaan Recovery Training Plan’ at the state-of-the-art Water Survival Test Facility (WSTF) at INS (Indian Naval Ship) Garuda, Kochi, Kerala.

• The training document was jointly released by Vice Admiral Atul Anand, Director General of Naval Operations, Indian Navy, Dr Unnikrishnan Nair, Director, Vikram Sarabhai Space Centre (VSSC), and Dr Umamaheshwaran R, Director, Human Space Flight Centre (HSFC) of ISRO.

Key Points:
i. The document provides a Training plan for the recovery of the crew module for the Gaganyan mission.
ii.The document also defines overall requirements with respect to training of various teams participating in recovery operations such as Marine Commandos(MARCOS), parajumpers, medical specialists, technicians etc.
iii.The Recovery training is planned in incremental phases starting from unmanned recovery to manned recovery training in harbour and open sea conditions.
iv.The overall recovery operations of the crew module are being led by the Indian Navy in coordination with other maritime agencies.
v.The Gaganyaan recovery teams are set to be trained and familiarized with the use of mass and shape-simulated mock-up.

• WSTF is equipped with its state-of-the-art facility in the new avatar with a team of highly qualified divers all set to assist ISRO by undertaking a series of trials and fine-tuning of Standard Operating Procedures to train the crew and recovery team of Gaganyaan.

Note – Gaganyaan mission aims to send Indian astronauts to space for the first time to low earth orbit (LEO) for a week and they will be on board a spacecraft `Gaganyaan’.
About Indian Space Research Organisation(ISRO):
Chairman – S. Somanath
Headquarters – Bengaluru, Karnataka
Establishment – 1969

OBITUARY

Kannada Writer & Sahitya Akademi Awardee, GH Nayak Passed AwayOn May 26 2023, noted Kannada writer, critic and Sahitya Akademi award winner Govindaray H Nayak, popularly known as GH Nayak passed away at his residence in Mysuru, Karnataka at the age of 88.

• He was born in Surve village near Ankola taluk of Uttara Kannada district of Karnataka in 1935.

Career:
i. GH Nayak started his career as a Kannada lecturer at the University of Mysore, Karnataka and retired as a Professor.
ii. He also served as a Visiting Faculty of Hampi Kannada University and Kuvempu Institute of Kannada Studies, Manasagangothri, Karnataka.
Notable works:
Some of his notable works includes Samakaleena, Anivarya, and Uttarardha.
Awards and honours:
i.Department of Kannada and Culture, Karnataka Government, honoured him with the Pampa Prashasti for literature for 2010. He had also been the recipient of the prestigious Pampa Award.
ii. In 2014, he was honoured with the Sahitya Akademi Award for the compilation of his essays on literary criticism titled “Uttaraardha” (Kannada).
iii. He has also won the Karnataka Sahitya Academy Award, V M Inamdhar Memorial Award, Karnataka State Award, G.S. Shivarudrappa Award, and Shivaram Karanth Award.

BOOKS & AUTHORS

Dr. Vijay Darda’s New Book, ‘RINGSIDE,” to be Released by Shashi Tharoor

“RINGSIDE – Up, Close, and Personal on India and Beyond”, a new book written by former member of parliament (MP) Dr Vijay Darda, Chairman of the editorial board of Lokmat Media Group, is set to be released by renowned author and Congress MP Dr Shashi Tharoor on 30th May 2023 in New Delhi, Delhi.

• The book is a compilation of Darda’s weekly articles, which were published in the Lokmat Media Group newspapers and other prominent national and regional dailies of the country between 2011 and 2016.
• This book is a reflection of contemporary political, social, cultural, and other significant happenings and developments.

Darda served as an active member of the Rajya Sabha for three consecutive terms from 1998 to 2016.

• “Straight Thoughts,” Dadra’s previous book, is a collection of articles from 2004 to 2011.

STATE NEWS

GoI Appoints Chief Justices of 5 High CourtsOn 27th May 2023, the Government of India (GoI) has appointed chief justices to five High Courts: Bombay, Madras, Himachal Pradesh, Kerala and Rajasthan. These appointments were recommended by the Supreme Court Collegium headed by Chief Justice of India (CJI) D Y Chandrachud on 19th April 2023.
Note: 
The appointments were made by the President of India, in exercise of the power conferred by clause (1) of Article 217 of the Constitution of India.
Details of the Appointment: 

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List of Current Governors in India – February 2023

List of Current Chief Ministers in India – February 2023

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