26th-28th May, 2023

1. Union Minister of Ayush and Ports, Shipping and Waterways Shri Sarbananda Sonowal visited Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H), Ghaziabad and inaugurated “e-Office portal of PCIM&H” and “Online portal”.
2. India’s AI supercomputer ‘AIRAWAT’ has secured the 75th position in the prestigious Top 500 Global Supercomputing List.
3. PM Narendra Modi has paid an official visit to Japan, Australia and Papua New Guinea. It is the first visit of India’s PM to Papua New Guinea.
4. Ministry of Civil Aviation has launched UDAN 5.1 to further enhance connectivity to remote areas of the country and achieve last-mile connectivity through helicopters.
5. Uttarakhand CM Pushkar Singh Dhami launched a mobile app “Patch Reporting App” to record pictures of potholes and register their complaints with Public Works Department (PWD).
6. Tamil Nadu government has signed six MoUs with various institutions and companies based in Singapore at the Singapore Investment Conclave on the second day of his nine-day visit to Singapore and Japan.
7. Indra has installed the first of the 23 Lanza-N radars to equip Indian Navy ships over the next decade.
8. Iran unveiled a new version of a ballistic missile with a range of 2,000 kilometers (1,242 miles), named Kheibar missile.
9. The World Meteorological Congress has approved a new greenhouse gas (GHG) monitoring initiative to reduce heat-trapping gases, which are fuelling temperature increases.
10. World Bank has released the “Thriving – Making Cities Green, Resilient and Inclusive in a Changing Climate” report.
11. HDFC Bank has launched Future Bankers 2.0, a pan-India recruitment programme to transform young graduates into banking professionals within one year.
12. Paytm has launched UPI SDK to allow customers of online merchants to make UPI payments directly and in-line from the merchant’s mobile app without getting redirected during checkout.
13. Central Govt has cleared a prompt digital reporting and communication mechanism under which the Central Economic Intelligence Bureau (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.
14. Competition Commission of India (CCI) granted approval for the proposed merger of Credit Suisse Group AG with UBS Group AG, two prominent Swiss-based multinational investment banks and financial services companies.
15. Realme has announced Bollywood star Shahrukh Khan as its brand ambassador for the smartphone category.
16. Genpact founder Pramod Bhasin has been appointed the new chairman of the Data Security Council of India (DSCI), effective April 1, 2023.
17. Arjun Ram Meghwal was appointed as the new Union Law Minister.
18. May 25 – World Thyroid Day
19. May 25 – International Missing Children’s Day
20. Kavitha Lankesh’s Gauri, the eponymous documentary film about her sister and slain journalist Gauri Lankesh, won the “Best Long Documentary Award” at the South Asian Film Festival of Montreal.
21. Trichy International Airport’s new terminal project has been awarded the international safety award by the British Safety Council in the first-class merit category.
22. All India Football Federation has declared June 23, the birthday of Indian football icon Pradip Kumar Banerjee, as the ‘AIFF Grassroots Day’
23. Uttarakhand CM Pushkar Singh Dhami launched a mobile app “Patch Reporting App” to record pictures of potholes and register their complaints with Public Works Department (PWD).
24. Union Ministry of Fisheries, Animal Husbandry and Dairying has announced the start of Phase-V of the Sagar Parikrama initiative from Raigad in Maharashtra to Canacona in Goa.
25. UIDAI has launched a new feature under the ‘Verify email/mobile Number’ feature on the official website (https://myaadhaar.uidai.gov.in/) or through mAadhaar App.
26. Central Govt has informed the Supreme Court that it will form a committee headed by the Cabinet Secretary to address “human concerns” of same-sex couples without legally recognising their relationship as a marriage.
27. UK and India have partnered to launch the Innovating for Transport and Energy Systems (ITES) to become first movers in the transition to Net Zero transport systems.
28. Prime Minister Narendra Modi chaired the 8th governing council meeting of the Niti Aayog on the theme of ‘Viksit Bharat @2047: Role of Team India’ at the new Pragati Maidan Convention Centre in Delhi.
29. Prime Minister Narendra Modi released a special commemorative postage stamp and a ₹75 coin to mark the inauguration of the new Parliament building.
30. An MoU was signed for the development of ‘Riverine Based Religious Tourism Circuit’ among Inland Waterways Authority of India (IWAI), Sagarmala Development Corporation Limited (SDCL), Assam Tourism Development Corporation (ATDC) and Department of Inland Waterways Transport (DIWT) of Government of Assam.
31. The Kerala Startup Mission has been ranked as the world’s top public business incubator by the UBI Global World Benchmark Study 2021-2022 of Business Incubators and Accelerators.
32. J&K administration and Indian Army had organized the two-day maiden Sinthan Festival at Sinthan Maidan Kishtwar.
33. Kerala Chief Minister Pinarayi Vijayan has become India’s first fully e-governed state after digitizing an extensive range of government services, ensuring prompt and transparent delivery to its citizens.
34. India and Nepal have signed an MOU for undertaking two High Impact Community Development Projects with the assistance of the Indian government.
35. World Bank has announced to provide $2.25 billion to Bangladesh to support projects related to growth, regional connectivity and disaster preparedness.
36. The world’s largest aircraft carrier, the USS Gerald R. Ford, has reached into Oslo, Norway, a first for such a U.S. ship,
37. International Transport Forum has released the Transport Outlook 2023 report.
38. One97 Communications Limited, owner of Paytm, has partnered with credit card issuer SBI Card and the National Payments Corporation of India to launch a co-branded RuPay Credit Card.
39. Godrej Agrovet’s Oil Palm Business has partnered with the State Bank of India (SBI) to offer loans to oil palm farmers for setting up micro irrigation facility and install fencing to protect crops from cattle and improvement of tube well at their oil palm farms.
40. The YES BANK has launched YES PAY EASY mobile application for enabling small-scale merchants to accept instant cashless payments from their customers.
41. ICICI Lombard has partnered with ai, a Singapore-based enterprise SaaS platform, to use AI and ML capabilities to create insurance products.
42. The European Securities and Markets Authority (ESMA), the European Union (EU’s) financial markets regulator and supervisor, has derecognised six Indian central counterparties (CCPs) from April 30, 2023.
43. China’s Ding Liren has been crowned as the world’s chess champion, after he defeated Russian GM Ian Nepomniachtchi in Astana, Kazakhstan.
44. Tina Turner, an African-American pop sensation in the ’80s, has passed away.

National News

1. Union Minister of Ayush and Ports, Shipping and Waterways Shri Sarbananda Sonowal visited Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H), Ghaziabad and inaugurated “e-Office portal of PCIM&H” and “Online portal”.
   • Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H) under Ministry of Ayush is actively engaged in Standardization and Quality Control of Ayurveda, Siddha, Unani and Homoeopathic (ASU&H) drugs and is publishing the standards in the form of Pharmacopoeias.
     Source: PIB
2. India’s AI supercomputer ‘AIRAWAT’ has secured the 75th position in the prestigious Top 500 Global Supercomputing List.
   • The announcement was made during the 61st edition of the International Supercomputing Conference (ISC 2023) held in Germany.
   • India aims to achieve the vision of “AI for ALL”.
   • The supercomputer is installed at C-DAC, Pune as part of the National Program on AI.
   • MeitY has planned to increase AIRAWAT’s capacity to 1,000 AI Petaflops Mixed Precision compute capacity to cater to the current AI computational needs.
     Source: Business Today
3. PM Narendra Modi has paid an official visit to Japan, Australia and Papua New Guinea. It is the first visit of India’s PM to Papua New Guinea.

4. Ministry of Civil Aviation has launched UDAN 5.1 to further enhance connectivity to remote areas of the country and achieve last-mile connectivity through helicopters.
   • Till now, four successful rounds of the Regional Connectivity Scheme (RCS) – Ude Desh Ka Aam Nagrik (UDAN) have been completed and the fifth round is underway.
   • In this version, airfare caps have been reduced by 25% to make flying in helicopters more affordable for passengers.
   • The government has approved the ‘Revival of unserved and under-served airports’ scheme for the revival and development of 100 unserved and under-served airports, helipads and water aerodromes by 2024.
     Source: ET
5. Uttarakhand CM Pushkar Singh Dhami launched a mobile app “Patch Reporting App” to record pictures of potholes and register their complaints with Public Works Department (PWD).
   Source: ET
6. Union Ministry of Fisheries, Animal Husbandry and Dairying has announced the start of Phase-V of the Sagar Parikrama initiative from Raigad in Maharashtra to Canacona in Goa.
   • Purpose – to spread information about fisheries-related schemes and programs such as the Pradhan Mantri Matsya Sampada Yojana (PMMSY) and Kisan Credit Cards (KCC)
   • The Phase-V will encompass six locations: Raigad, Ratnagiri and Sindhudurg districts in Maharashtra and Vasco, Mormugao and Canacona in Goa.
   • The Sagar Parikrama program was launched in February as part of the 75th Azadi Ka Amrit Mahotsav and has completed four phases, covering 19 locations in Gujarat, Daman and Diu, Maharashtra and Karnataka.
     Source: The Print
7. UIDAI has launched a new feature under the ‘Verify email/mobile Number’ feature on the official website (https://myaadhaar.uidai.gov.in/) or through mAadhaar App.
   • It has been developed for the residents to verify that their own email/mobile number is seeded with respective Aadhaar.
     Source: PIB
8. Central Govt has informed the Supreme Court that it will form a committee headed by the Cabinet Secretary to address “human concerns” of same-sex couples without legally recognising their relationship as a marriage.
   Source: Indian Express
9. UK and India have partnered to launch the Innovating for Transport and Energy Systems (ITES) to become first movers in the transition to Net Zero transport systems.
   • Launched in partnership with the Indian Institute of Science (IISc) and the UK Research and Innovation (UKRI), it is a unique collaboration to develop greener, quicker and more affordable ways for transportation – in India, the UK, and beyond.
   • A UK-India Net Zero Innovation Virtual Centre will be set up under ITES to help maximise cooperation on Net Zero action.
     Source: ET
10. Prime Minister Narendra Modi chaired the 8th governing council meeting of the Niti Aayog on the theme of ‘Viksit Bharat @2047: Role of Team India’ at the new Pragati Maidan Convention Centre in Delhi.
    • Eight prominent themes will be discussed during the day-long Meeting including (i) Viksit Bharat@2047, (ii) Thrust on MSMEs, (iii) Infrastructure and Investments, (iv) Minimising Compliances, (v) Women Empowerment, (vi) Health and Nutrition, (vii) Skill Development, and (viii) Gati Shakti for area development and social infrastructure.
      Source: ET
11. Prime Minister Narendra Modi released a special commemorative postage stamp and a ₹75 coin to mark the inauguration of the new Parliament building.

    • As per the Ministry of Finance notification, the latest Rs 75 coin is circular in shape with a diameter of 44mm. The composition of the coin is of a quaternary alloy — 50% silver, 40% copper, 5% nickel and 5% zinc.

Source: Indian Express and SPMCIL

State News

1. Tamil Nadu government has signed six MoUs with various institutions and companies based in Singapore at the Singapore Investment Conclave on the second day of his nine-day visit to Singapore and Japan.
   Source: TOI
2. An MoU was signed for the development of ‘Riverine Based Religious Tourism Circuit’ among Inland Waterways Authority of India (IWAI), Sagarmala Development Corporation Limited (SDCL), Assam Tourism Development Corporation (ATDC) and Department of Inland Waterways Transport (DIWT) of Government of Assam.
   • The MoU will facilitate modern ferry service on a ‘Hop on Hop off’ among seven historic religious sites around Guwahati.
   • The project, executed via a Special Purpose Vehicle (SPV), is likely to completed with an investment of ₹45 crores.
     Source: PIB
3. The Kerala Startup Mission has been ranked as the world’s top public business incubator by the UBI Global World Benchmark Study 2021-2022 of Business Incubators and Accelerators.
   • UBI Global is a Sweden-based innovation intelligence company and community founded in 2013 in Stockholm.
   • Back in 2019 also, UBI Global recognised KSUM as world’s No. 1 public business accelerator.
   • KSUM has launched innovative programmes such as the virtual incubation programme, ‘Fail Fast or Succeed’ (FFS), physical incubation support etc. to support startups from ideation to market acceleration stages.
     Source: Hindu Business Line
4. J&K administration and Indian Army had organized the two-day maiden Sinthan Festival at Sinthan Maidan Kishtwar.
   Source: ANI
5. Kerala Chief Minister Pinarayi Vijayan has become India’s first fully e-governed state after digitizing an extensive range of government services, ensuring prompt and transparent delivery to its citizens.
   • It was announced at the ‘Total e-Governance Kerala’ event.
     Source: LiveMint

Defence News

1. Indra has installed the first of the 23 Lanza-N radars to equip Indian Navy ships over the next decade.
   • The Madrid-based tech company are the original equipment manufacturer of the 3D radar system.
   • Indra and the Hyderabadi defence company, TATA Advanced Systems, signed a deal in 2020 as part of a technology transfer programme.
     Source: Navy Technology

Memorandum of Understanding

1. India and Nepal have signed an MOU for undertaking two High Impact Community Development Projects with the assistance of the Indian government.
   • These projects are going to cost around Nepali Rs 80.33 million.
   • Earlier, also, an MoU was signed between the Embassy of India and Sushila Thakur Memorial Health Foundation (STMHF), for the distribution of LPG gas stoves and cylinders in Mahottari District, Nepal with the Indian grant of Rs 50 million (approx) under India-Nepal Development Cooperation.
     • This initiative was inspired by the Government of India’s Pradhan Mantri Ujjwala Yojana.
     • This project will benefit nearly 8,000 underprivileged and marginalised families of five municipalities in Mahottari District, Madhesh Pradesh of Nepal.
   • Since 2003, India has taken up over 535 High Impact Community Development Projects in Nepal and has completed 478 projects.
     Source: The Print

International News

1. Iran unveiled a new version of a ballistic missile with a range of 2,000 kilometers (1,242 miles), named Kheibar missile.
   • It is Iran’s longest-range missile to date.
     Source: Times of Israel
2. The World Meteorological Congress has approved a new greenhouse gas (GHG) monitoring initiative to reduce heat-trapping gases, which are fuelling temperature increases.
   • The new global GHG watch will fill critical information gaps and provide an integrated and operational framework.
   • The framework will bring all space-based and surface-based observing systems, as well as modelling and data assimilation capabilities, under one roof.
   • The GHG watch will consist of four main components.
     Source: Down to Earth
3. World Bank has released the “Thriving – Making Cities Green, Resilient and Inclusive in a Changing Climate” report.
   • Globally, 70% of greenhouse gas emissions emanate from cities.
     Source: World Bank
4. The Gross GST collections for the month of April 2023 hit ₹1,87,035 crore, 12% higher than the same month last year which stood at ₹1.67 lakh crore.
   Source: The Hindu
5. World Bank has announced to provide $2.25 billion to Bangladesh to support projects related to growth, regional connectivity and disaster preparedness.
   • World Bank will also provide $743.45 million to Bangladesh under its ‘Accelerating Transport and Trade connectivity in Eastern South Asia (ACCESS) programme, phase-1′ to improve trade.
   • Under the Resilient Infrastructure for Adaptation and Vulnerability Reduction (RIVER) project, Bangladesh will receive $500 million to support its Delta Plan 2100 to improve disaster preparedness against inland flooding.
   • The $250 million Sustainable Microenterprise and Resilient Transformation (SMART) project aims to help transform the micro-enterprise sector in Bangladesh.
   • Bangladesh Environmental Sustainability and Transformation (BEST) Project aims to promote private sector participation in green investment.
   • Bangladesh aims to achieve higher income country status by 2041.
     Source: News on Air
6. The world’s largest aircraft carrier, the USS Gerald R. Ford, has reached into Oslo, Norway, a first for such a U.S. ship,
   Source: Reuters

Reports and Indices

1. International Transport Forum has released the Transport Outlook 2023 report.
   • This report examines the impacts of different policy measures on global transport demand and carbon dioxide emissions to 2050.

Source: ITF

Banking and Economy

1. HDFC Bank has launched Future Bankers 2.0, a pan-India recruitment programme to transform young graduates into banking professionals within one year.
   • To be offered in association with the Manipal Global Academy of BFSI, Future Bankers 2.0 is a one-year professional diploma that aims to create a robust, future-ready talent pipeline for HDFC Bank’s retail banking business.
     Source: Business World
2. Paytm has launched UPI SDK to allow customers of online merchants to make UPI payments directly and in-line from the merchant’s mobile app without getting redirected during checkout.
   • The new feature will allow customers to pay directly from their bank accounts by entering their UPI PIN without leaving the merchant app.
     Source: ET
3. Central Govt has cleared a prompt digital reporting and communication mechanism under which the Central Economic Intelligence Bureau (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.
   • This system replaces the paper-based system.
   • The new system will streamline the process of communication between banks and the Central Economic Intelligence Bureau (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.
     Source: ET
4. Competition Commission of India (CCI) granted approval for the proposed merger of Credit Suisse Group AG with UBS Group AG, two prominent Swiss-based multinational investment banks and financial services companies.
   Source: LiveMint
5. The Department of Economic Affairs, Ministry of Finance has scrapped the Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000.
   • As per the rule 7, the purchases made by using the international credit cards (ICCs) by residents touring abroad was not counted in the Liberalized Remittance Scheme (LRS). But, now it will be counted.
     • Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April–March) outside India. Beyond this limit, the central bank’s approval is required.
   • This means that the use of ICC by residents on a visit outside India or even for international purchases on the internet will be included while computing the overall LRS limit of $250,000 per person per financial year.
   • The change comes into effect immediately.
   • Ministry of Finance has also 20% TCS (Tax Collected at Source) on international credit card usage from July 1, 2023 under the Foreign Exchange Management Act (FEMA), which has brought ICC spending under the LRS.

6. IRDAI has relaxed norms for ‘surety bonds’ to expand the surety insurance market by increasing the availability of such products.
   • Now, the solvency margin requirement applicable for the insurers of such products has been reduced to control the level of 5 times from 1.875 times previously prescribed.
     • Solvency margin is the extent to which an insurance company’s assets exceed its liabilities. It means that the insurers must a have capital of 1.5X against its liabilities.
   • The current requirement of 30% exposure limit applicable on each contract underwritten by an insurer, has also been removed.
   • Earlier, the IRDAI had removed the cap on premiums that could be underwritten in a financial year by the insurers transacting only surety insurance business.
   • The regulator had issued ‘IRDAI (Surety Insurance Contracts) Guidelines’ in January 2022.

7. One97 Communications Limited, owner of Paytm, has partnered with credit card issuer SBI Card and the National Payments Corporation of India to launch a co-branded RuPay Credit Card.
   Source: HT
8. Godrej Agrovet’s Oil Palm Business has partnered with the State Bank of India (SBI) to offer loans to oil palm farmers for setting up micro irrigation facility and install fencing to protect crops from cattle and improvement of tube well at their oil palm farms.
   • The loan facility Rs 1 lakh to Rs 50 crore is available for the company’s oil palm farmers from Telangana, Tamil Nadu, Odisha, Assam, Manipur and Tripura.
   • For a loan up to Rs 1.6 lakhs, no security is needed.

9. The YES BANK has launched YES PAY EASY mobile application for enabling small-scale merchants to accept instant cashless payments from their customers.
   • The app has been developed in collaboration with Mastercard and Worldline India.
   • It offers features such as Bharat QR, Tap-On-Phone, and SMS Pay, allowing merchants to transact through various digital modes.
     Source: CNBC
10. ICICI Lombard has partnered with ai, a Singapore-based enterprise SaaS platform, to use AI and ML capabilities to create insurance products.
    • Purpose – to serve the unique requirements of enterprises and their entire supply chain ecosystem, including distributors, retailers, and suppliers
      Source: Techcircle
11. The European Securities and Markets Authority (ESMA), the European Union (EU’s) financial markets regulator and supervisor, has derecognised six Indian central counterparties (CCPs) from April 30, 2023.
    • These six CCPs are The Clearing Corporation of India (CCIL), Indian Clearing Corporation Ltd (ICCL), NSE Clearing Ltd (NSCCL), Multi Commodity Exchange Clearing (MCXCCL), India International Clearing Corporation Ltd (IICC) and NSE IFSC Clearing Corporation Ltd (NICCL).
    • Reason – There were ‘no cooperation arrangements’ between ESMA and Indian regulators – the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI) and the International Financial Services Centres Authority (IFSCA).

Source: Indian Express

Appointments

1. Realme has announced Bollywood star Shahrukh Khan as its brand ambassador for the smartphone category.
   Source: Business Today
2. Genpact founder Pramod Bhasin has been appointed the new chairman of the Data Security Council of India (DSCI), effective April 1, 2023.
   • Bhasin is currently also the chairman of Indian Council for Research on International Economic Relations (ICRIER).
     Source: ET
3. Arjun Ram Meghwal was appointed as the new Union Law Minister.
   • Kiren Rijiju has been appointed as the Minister of Earth Sciences.
     Source: ET

Important Days

1. May 25 – World Thyroid Day
   Source: Financial Express
2. May 25 – International Missing Children’s Day
   Source: AFP

Awards

1. Kavitha Lankesh’s Gauri, the eponymous documentary film about her sister and slain journalist Gauri Lankesh, won the “Best Long Documentary Award” at the South Asian Film Festival of
   Source: The Wire
2. Trichy International Airport’s new terminal project has been awarded the international safety award by the British Safety Council in the first-class merit category.
   • ITD Cementation India Limited developed the terminal.
   • The terminal building is being constructed as per the standards of ‘GRIHA’ (green rating for integrated habitat assessment), in which the design maximizes the use of natural light within the building and incorporates renewable energy measures.
     Source: TOI

Sports

1. All India Football Federation has declared June 23, the birthday of Indian football icon Pradip Kumar Banerjee, as the ‘AIFF Grassroots Day’
   Source: The Hindu
2. China’s Ding Liren has been crowned as the world’s chess champion, after he defeated Russian GM Ian Nepomniachtchi in Astana, Kazakhstan.
   Source: HT

Miscellaneous

1. Tina Turner, an African-American pop sensation in the ’80s, has passed away.
   Source: Reuters

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