Daily Current Affairs 11 April 2023 for Banking/Insurance/SSC and other related exams.
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NATIONAL NEWS
Election Commission grants national party status to AAP
In a significant development, the Election Commission has granted national party status to the Aam Aadmi Party (AAP). The party’s recognition as a national party is based on its electoral performance in four states- Delhi, Goa, Punjab, and Gujarat.
- With this recognition, the AAP joins the list of national parties in India such as the Bharatiya Janata Party, Congress, Bahujan Samaj Party, and Communist Party of India (Marxist). The recognition also means that the party can contest elections in all states and union territories of India
Cabinet approves LIGO-India, gravitational-wave detector to be built in Maharashtra
The Union Cabinet approved a project to build an advanced gravitational-wave detector in Maharashtra at an estimated cost of Rs 2,600 crore. The facility’s construction is expected to be completed by 2030.
- According to Union minister Jitendra Singh, it will come up in Hingoli district, where land has been acquired to the tune of 174 acres.The project is a collaboration between a consortium of Indian research institutions and the U.S. observatories, plus several international partners.
- The observatory will be the third of its kind, made to the exact specifications of the twin Laser Interferometer Gravitational-wave Observatories (LIGO), in Louisiana and Washington in the U.S. LIGO-India will work in tandem with them.
India releases first edition of Dogri version of Indian Constitution
India released the first edition of the Dogri version of the Indian Constitution. The release of this version is a significant step towards promoting linguistic diversity and preserving the cultural heritage of the country.
- Dogri is a language spoken in the northern Indian state of Jammu and Kashmir and is one of the 22 official languages recognized by the Indian Constitution.
BANKING & FINANCE
SBI to launch new current accounts and savings accounts in FY24 to attract deposits
The State Bank of India (SBI) has revealed plans to introduce new variants of current accounts and savings accounts in the fiscal year 2023-24, as it seeks to reduce the gap between deposit growth and credit growth.
- The bank intends to launch two new variants of current accounts, one with a balance of ₹50,000 and another with a balance of ₹50 lakh. It also plans to introduce a new savings account called “Parivar” (family) account.
- The move comes as SBI aims to increase its customer base and attract more deposits, particularly from retail customers.
BUSINESS & ECONOMY
Norway, Singapore gain as FPI destinations in FY23: Report
Data provided by the National Securities Depository indicates that in the fiscal year 2022-23, overseas capital flows into Indian capital markets originating from Mauritius experienced the sharpest decline, while Norway and Singapore gained popularity.
- The assets under custody (AUC) from Mauritius decreased by almost 42% to Rs 6.66 trillion by the end of March 2023, down from Rs 10.88 trillion the previous year.
- Experts suggest that the renegotiation of the India-Mauritius tax treaty and increased scrutiny of capital flows have reduced the island nation’s appeal as a preferred destination for foreign investment into India.
WBPDCL ranks best performing power generation company for FY’23
From a loss-making public sector undertaking struggling to pay its employees in 2019, the West Bengal Power Development Corporation Ltd. (WBPDCL) has scripted a turnaround by becoming the best-performing power generation corporation in the country.
- Three thermal power plants of the State-run WBPDCL have established their places in the top five ranks in terms of performance and efficiency (as measured by the plant load factor or PLF). This is according to a list published by the Central Electricity Authority, Ministry of Power.
- The Bakreswar power plant of the WBPDCL has taken the top spot (PLF of 92.38%) out of 205 plants operating in the country, as per an official press statement. The Santaldih plant was ranked second (PLF of 91.37%) and the Sagardighi plant fifth (PLF of 89.39 %) nationally.
India will be the third largest economy by 2027-28: Piyush Goyal
In a recent address to the Indian diaspora community in France, Union Minister Piyush Goyal announced that India is set to become the third-largest economy in the world by 2027.
- Currently the fifth-largest economy, India has been experiencing an average annual growth rate of around 7% over the last decade, driven by factors such as a growing middle class and a focus on innovation and entrepreneurship.
SPORTS
David Warner becomes fastest to score 6000 runs in IPL
During a match against Rajasthan Royals at the Barsapara Stadium in Guwahati, Delhi Capitals’ captain David Warner became the fastest batsman to reach 6000 runs in the Indian Premier League (IPL).
- He is now the third player to achieve this feat after Virat Kohli from Royal Challengers Bangalore and Shikhar Dhawan, captain of Punjab Kings. It took Warner 165 innings to reach this milestone, while Kohli and Dhawan achieved it in 188 and 199 innings respectively.
Indian GM Gukesh clinches Armageddon title in Germany
Teenaged Indian Grandmaster D Gukesh stunned former world rapid champion Nodirbek Abdusattorov of Uzbekistan in the final to win the World Chess Armageddon Asia & Oceania event. Gukesh emerged winner in a topsy-turvy summit clash.
- After a missed chance in game 1, Gukesh lost the next game against Abdusattorov to use his “extra life” and start the match all over again.Both Gukesh and Abdusattorov have earned a spot at the Armageddon’s Grand Finale in September.
SCIENCE & TECHNOLOGY
NIC made app to facilitate registration, redressal of consumer grievances
The NIC has developed a mobile software application aiming to facilitate online registration and time-bound redressal of consumer grievances related to the Legal Metrology Act and rules framed thereunder.
- The NIC has developed ‘Maaptol Grievance’ app which is now available on the Google Play store.
- This initiative aims to facilitate online registration and time-bound redressal of consumer grievances related to the Legal Metrology Act and rules framed thereunder.
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