26th July, 2023

1. India’s first Atal Incubation Centre (AIC) in the field of fisheries is set to come up at Kerala University of Fisheries and Ocean Studies (Kufos).
2. Government has decided to make Centre for Development of Telematics (C-DoT) as the nodal facilitation agency for telecom IPRs and patents.
3. A memorial has been unveiled in Italy to honour Indian Soldiers contributions in World War 2.
4. Bharat Electronics Limited(BEL), a Navratna Defence PSU, has signed MoUs with Gabriel Power and CoRover Private Limited to leverage opportunities across the power and energy sectors and AI-based conversational solutions.
5. Hero Future Energies (HFE) has signed two memorandums of understanding (MoUs) with REC Ltd and Power Finance Corporation Ltd to develop green energy projects.
6. SpaceX has launched 22 Starlink satellites to low Earth orbit (LEO).
7. Indian Banks to get ₹5,729 crore from “Depositor Education and Awareness” (DEA) Fund towards refund of settling unclaimed deposits.
8. HDFC mutual fund has launched the HDFC Charity Fund for Cancer Cure, in collaboration with Indian Cancer Society (ICS)
9. Bajaj Finserv Asset Management has launched its first equity scheme in the flexi-cap category
10. L&T has approved Rs 10,000 crore share buyback programme through the tender offer route.
11. International Monetary Fund (IMF) has projected GDP growth rate of 6.1% for India for 2023-24 in its July edition of World economic outlook update.
12. Government has extended the tenure of Amitava Mukherjee as CMD (additional charge) of NMDC and NMDC Steel by 3 months.
13. 25 July- World Drowning Prevention Day
14. National Geoscience Awards 2022
15. 8th and 9th Community Radio Awards
16. Jindal Aluminium Limited has received AS9100D Aerospace Certification.
17. Sri Lankan Cricketer Lahiru Thirimanne has announced retirement from international cricket.
18. Danish rider Jonas Vingegaard has won Tour de France (110th edition) for 2nd consecutive year by defeating Tadej Pogacar (Slovenian).
19. Pakistan has emerged as the winner of ACC Men’s Emerging Asia Cup 2023.

National News

1. India’s first Atal Incubation Centre (AIC) in the field of fisheries is set to come up at Kerala University of Fisheries and Ocean Studies (Kufos).
   • The University has secured a grant of ₹10 crore from NITI Aayog.
   • The AIC at KUFOS will be dedicated to promoting research, technological advancement, and entrepreneurship in fisheries and allied sectors.
   • AIC initiative is part of the Atal Innovation Mission (AIM), which seeks to encourage a culture of innovation and entrepreneurship across various sectors in India.
     Source: HBL
2. Government has decided to make Centre for Development of Telematics (C-DoT) as the nodal facilitation agency for telecom IPRs and patents.
   • C-DoT, which is the RD wing of the Department of Telecommunications, will only act as the facilitator for standard essential patent (SEP) negotiations and shall not have any financial obligations towards any party.
   • C-DoT will provide handholding and all the necessary support to start-ups, MSMEs and R&D entities for converting innovations into IPRs and translating research into commercially deployable products.
   • Functions to be undertaken-
     • IPRs/SEPs management on behalf of the Indian R&D ecosystem.
     • Participate in IPRs/SEPs related engagements on behalf of Indian technology entities.
     • Development, hosting and maintenance of Indian telecom IPRs/SEPs repository in coordination with TEC, global and regional standard development organizations
   • The National Digital Communications Policy (NDCP) envisages to enable next generation technologies and services through investments, innovation and IPR generation.
     Source: ET
3. A memorial has been unveiled in Italy to honour Indian Soldiers contributions in World War 2.
   • The memorial is in the form of a live sundial. The motto of the memorial is “Omines Sub Eodem Sole” which translates to “We all live under the same sun”
   • ‘VC Yeshwant Ghadge Sundial Memorial’ has been unveiled at Montone (Perugia, Italy)
   • Tribute to-
     • Indian troops who fought during Italian Campaign, during the 2nd World Waro
     • Naik Yeshwant Ghadge, Victoria Cross, who was killed in action fighting on the heights of Upper Tiber Valley.
       Source: ET

Memorandum of Understanding

1. Bharat Electronics Limited(BEL), a Navratna Defence PSU, has signed MoUs with Gabriel Power and CoRover Private Limited to leverage opportunities across the power and energy sectors and AI-based conversational solutions.
   Source: HBL
2. Hero Future Energies (HFE) has signed two memorandums of understanding (MoUs) with REC Ltd and Power Finance Corporation Ltd to develop green energy projects.
   • The memorandum will lead to infusion of Rs 3,100 crore each into HFE over the next 5
   • The agreements were signed on the sidelines of the 4th G20 Energy Transition Working Group meeting, Goa.
   • The funds will be used to develop renewable projects across the country, including solar and wind for commercial and industrial customers, utility projects and green hydrogen derivatives.
     Source: BS

International News

1. SpaceX has launched 22 Starlink satellites to low Earth orbit (LEO).
   • A Falcon 9 rocket carrying the Starlink spacecraft was lifted off from Cape Canaveral Space Force Station in Florida.
   • It was the 6th launch and landing for this Falcon 9 first stage booster.
   • Starlink is a ‘satellite constellation’ in the Earth’s lower orbit to deliver broadband internet.
     • According to SpaceX’s website, it has made a total of 248 launches, 182 reflights and 209 landings, so far.
       Source: CNBC

Banking and Economy

1. Indian Banks to get ₹5,729 crore from “Depositor Education and Awareness” (DEA) Fund towards refund of settling unclaimed deposits.
   • Depositor Education and Awareness Fund Scheme, 2014, was notified by Reserve Bank of India (RBI).
   • It covers norms related to unclaimed deposits and outlines details of utilisation of fund including its role in promoting depositors’ interests and supporting specified purposes.
   • Public sector banks have made contributions to the DEA Fund, transferring 36,185 crores of unclaimed deposits until March 31, 2023. Private banks have also transferred Rs. 6,087 crores to the DEA Fund during the same period.

• Other initiatives by RBI to settle unclaimed deposits-
  • Centralised Web portal for public to search unclaimed deposits across multiple banks.
  • “100 Days 100 Pays” campaign for banks to trace and settle top 100 unclaimed deposits of every bank in every district of the country within 100 days.

Source: PIB

2. HDFC mutual fund has launched the HDFC Charity Fund for Cancer Cure, in collaboration with Indian Cancer Society (ICS)
   • This fixed maturity scheme has been launched to contribute to the treatment of underprivileged cancer patients.
   • The scheme will offer investors the flexibility to choose either a 50% or 75% contribution of Income Distribution cum Capital Withdrawal (IDCW) to be donated to the ICS.
   • HDFC Asset Management Company will match donations with an equal amount directly contributed to ICS (subject to a limit of Rs 16 crore per financial year).
   • The company has waived all investment management and advisory fees for this scheme.
   • This NFO is the 4th edition of the cancer cure series. Since its initial launch in 2011, the collective contribution from the series, including direct contribution from HDFC AMC, is nearly Rs 190 crore.
     Source: ET
3. Bajaj Finserv Asset Management has launched its first equity scheme in the flexi-cap category
   • In this scheme a fund manager can choose to invest in companies across the market capitalisation spectrum.
   • The flexicap fund will be managed through a ‘megatrend’ strategy and invest in opportunities across large, mid, and small-cap stocks.
     Source: BT
4. L&T has approved Rs 10,000 crore share buyback programme through the tender offer route.
   • The buyback, to be done at a maximum price of Rs 3,000 per share, will involve 3.33 crore shares or 2.4% of the fully paid-up equity share capital.
     • The buyback price is at a premium of 17% from the current levels.
   • What is share buyback?
     • Under this, a company buys back its own shares from shareholders and it is seen as a tax-efficient way to give cash back to investors.
     • Share buyback reduces the number of shares available in the market and thereby increases the real value of the stock.
       Source: ET

GDP Forecasts

1. International Monetary Fund (IMF) has projected GDP growth rate of 1%for India for 2023-24 in its July edition of World economic outlook update.
   • IMF forecast for India for the year 2024 is 6.3%.
   • Global growth is projected to fall from an estimated 3.5% in 2022 to 3% in both 2023 and 2024.
   • According to the IMF, most advanced economies are expected to see a growth slowdown, from 2.7% in 2022 to 1.5% in 2023.

Source: IMF

Appointments

1. Government has extended the tenure of Amitava Mukherjee as CMD (additional charge) of NMDC and NMDC Steel by 3 months.
   • NMDC Ltd. is Hyderabad-based miner which contributes 17-20% to India’s total iron ore production.
     Source: ET
     

Important Days

1. 25 July- World Drowning Prevention Day
   • History- It was established through a UN General Assembly resolution in April 2021, aiming to address global drowning prevention.
   • In 2023, the 76th World Health Assembly has adopted its first ever resolution on drowning prevention.

Source: WHO

Awards

1. National Geoscience Awards 2022
   • President of India Smt. Droupadi Murmu has conferred the prestigious National Geoscience Awards- 2022 (NGA) of the Ministry of Mines.
   • 22 Geoscientists have received the awards under 3 categories.

• National Geoscience Award for Lifetime Achievement – Dr. Om Narain Bhargava for work his in the Himalayas.
• National Young Geoscientist Award – Dr. Amiya Kumar Samal, for understanding the variation of sub-continental lithospheric mantle (SCLM) below different archean cratons of the Indian shield.
• National Geoscience Awards in various fields of geosciences.
  • Mineral Discovery and Exploration-
  • Basic Geosciences,
  • Applied Geosciences and Mining,
  • Mineral Beneficiation and Sustainable Mineral Development.
• The awards were instituted in 1966, and are a symbol of recognition and appreciation for exceptional individuals and organizations that have demonstrated excellence, dedication and innovation in the realm of Geosciences.
  Source: PIB

2. 8th and 9th Community Radio Awards
   • The awards were conferred during the 2-day Regional Community Radio Sammelan (North) at the Indian Institute of Mass Communication in New Delhi.
   • The National Community Radio Awards carry 1st, 2nd and 3rd prize for Rs, 1 Lakh, Rs. 75,000 and Rs. 50,000respectively.
   • A total of 12 awards in 4 categories have been given.
   • Details of awardees are given below: –
   • Thematic Awards
     • 1st: Radio Mind Tree, Haryana
       • Programme: Hope Jeene Ki Rah
     • 2nd: Radio Hirakhand, Odisha
       • Programme: Adhar O PoshanBigyan
     • 3rd: Green Radio, Bihar
       • Programme: PoshanShrinkhla
   • Most Innovative Community Engagement Awards
     • 1st: Radio SDUttar Pradesh
       • Programme: Hizra in Between
     • 2nd: Kabir Radio, Uttar Pradesh
       • Program: Selfie Le Le Re
     • 3rd: Radio Mind Tree, Haryana
       • Programme: Book Bugs
   • Promoting Local Culture Awards
     • 1st: Voice of SOA, Odisha
       • Programme: Asmita
     • 2nd: Friends FM, Tripura
       • Programme: Revived a dying art: MASK & POT
     • 3rd: PantnagarJanvani, Uttarakhand
       • Program: Dadi Ma Ka Batua
   • Sustainability Model Awards
     • 1st: Radio Hirakhand, Odisha
     • 2nd: VayalagaVanoli, Tamil Nadu
     • 3rd: VAGAD Radio “90.8”, Rajasthan
       Source: PIB
3. Jindal Aluminium Limited has received AS9100D Aerospace Certification.
   • This certification is a benchmark to recognise the company as a qualified manufacturer for the aviation, space, and defence industry.
   • This certification was developed by the Society of Automotive Engineers and the European Association of AerospaceIndustries.
     Source: BS

Sports

1. Sri Lankan Cricketer Lahiru Thirimanne has announced retirement from international cricket.
   • He has played 44 Tests, 127 ODIs and 26 T20Is after making his international debut in 2010.
   • He was part of three T20 World Cup campaigns, including Sri Lanka’s win in 2014, and played two ODI World Cups. He also led Sri Lanka in five ODIs.
   • His last international match was the Test against India in Bengaluru in March 2022
     Source: ESPN
2. Danish rider Jonas Vingegaard has won Tour de France (110th edition) for 2nd consecutive year by defeating Tadej Pogacar (Slovenian)
   • The 2023 Tour de France is the second and most prestigious Grand Tour of the year in the men’s road cycling season.
     Source: Olympics.com
3. Pakistan has emerged as the winner of ACC Men’s Emerging Asia Cup 2023.
   • Pakistan has won by 128-runs over India A.
   • This is Pakistan’s 2nd consecutive title in the tournament.
     Source: ToI

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