Daily Current Affairs 11th July, 2023

Daily Current Affairs 11 July 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

Navantia, L&T sign pact to jointly bid for Navy’s P75 (I) submarine programme
Spain’s Navantia and Larsen & Toubro signed a Teaming Agreement (TA) in the premises of the Spanish Embassy, with the purpose of submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

• Project 75 (I) requires the Indian bidder to tie up with a foreign collaborator (FC) and execute the program for delivery of six conventional submarines equipped with Air-Independent Propulsion (AIP), while achieving targetted Indigenous Content. Expected to be valued at over Euro 4.8 billion, the project is the India‘s largest defence acquisition project.
• This would also be followed by a 30-year lifecycle sustenance contract of similar value. P75(I) would be the first program to be processed under the ambitious Strategic Partnership (SP) model of acquisition of the Ministry of Defence.

Women-only courts for alternative dispute resolution launching soon
The Centre is launching a unique initiative of setting up women-only courts called Nari Adalats at the village level as an alternate dispute resolution forum for issues like domestic violence, property rights and countering the patriarchal system.

• The scheme would be launched on a pilot basis in 50 villages each in Assam and Jammu and Kashmir from August and would be extended to the rest of the country over the next six months.
• Each Nari Adalat will consist of 7-9 members, half of whom will be the elected representatives of the gram panchayat and the other half will be women with social standing such as teachers, doctors and social workers. The members will be nominated by the villagers themselves.

INTERNATIONAL NEWS

Peru declares health emergency over Guillain-Barre syndrome
Peru declared a nationwide emergency as Guillain-Barré Syndrome (GBS), a rare neurological disorder, surged in the country. A 90-day health emergency has been imposed in the country to curb the outbreak.

• So far a total of 182 cases have been reported, of which 147 have been discharged, four people died, and 31 remain hospitalised.
• The country declares a health emergency at the request of Health Minister César Vásquez, who noted that an increase in the number of cases could mean a lack of immunoglobulin (antibodies).

Rajnath Singh inaugurates HAL regional office in Kuala Lumpur
Defence Minister Rajnath Singh inaugurated Hindustan Aeronautics Limited (HAL) regional office in Kuala Lumpur, Malaysia .

• The Defence Ministry said this regional office will boost the defence industrial collaboration between India and Malaysia and serve as a hub for the HAL’s engagement with the South-East Asian region.
• During the last day of his official visit, Mr. Singh interacted with the Indian diaspora and urged them to work incessantly for shared prosperity underlining the spirit of Vasudhaiva Kutumbakam.

BANKING & FINANCE

Max Life, DCB Bank join hands to offer insurance products
Max Life Insurance has partnered with DCB Bank to provide a variety of life insurance products to the latter’s customers.Term, savings, and retirement plans will be offered under this partnership.

• The partnership will provide Bank customers with access to Max Life’s protection and long-term savings products, providing financial stability for themselves and their family.

BUSINESS & ECONOMY

India to surpass US to become world’s 2nd largest economy by 2075: Goldman Sachs report
India will become the second largest economy in the world by 2075 surpassing not only Japan and Germany but also the US, stated a Goldman Sachs report. Currently, India is the world’s fifth-largest economy, behind Germany, Japan, China and the US.

• According to the investment bank report, as India’s population of 1.4 billion people becomes the world’s largest, its GDP is forecast to expand dramatically.The innovation and technology, higher capital investment and rising worker productivity to increase drastically due to the burgeoning population of the country.
• The Goldman Sachs report said the India’s government has placed a priority on infrastructure creation, especially in the setting up of roads and railways. The country’s recent budget aims to continue the 50-year interest free loan programs to state governments in order to spur investments in infrastructure.

Dell Technologies joins Intel to launch AI skills lab in India
Dell Technologies and Intel’s Digital Readiness team have partnered to enable Lords Institute of Engineering & Technology, Telangana in ‘demystifying AI for the next-gen’ by integrating Intel’s ‘AI for Youth’ program in their existing curriculum.

• Through this partnership, the institute aims to enable students to be industry-ready and reduce their digital skills gap.
• This collaboration with Intel introduces a comprehensive AI readiness program to empower the youth to be future-ready with the power of AI.

SPORTS

In archery, Parth Salunkhe becomes first Indian to win Youth World Championship in recurve category
Parth Salunkhe became the first male archer to win a gold in the recurve category at the Youth World Championships as India finished with their highest-ever tally of 11 medals. The 19-year-old from Satara in Maharashtra provided the perfect icing on the cake by defeating a Korean in the Under-21 men’s recurve individual final, Limerick, Ireland.

• Salunkhe, who topped the rankings round, prevailed over seventh seed Song Injun 7-3 (26-26, 25-28, 28-26, 29-26, 28-26) in a hard-fought five-setter.
• The medal haul of the 24-member Indian contingent included six gold, one silver and four bronze. Of the 11 medals India won, six were bagged in the U21 category – four gold and two bronze.

AWARDS

Culture Working Group under India’ G20 Presidency sets Guinness World Record for ‘Largest Display of Lambani Items
Guinness World Record for the largest display of Lambani Items was created on the sidelines of G-20 Culture Working Group Meeting at Hampi in Karnataka.

• Guinness World Record was created on the sidelines of the third G-20 Culture Working Group Meeting in Karnataka.
• Over 450 Lambani women artisans and cultural practitioners associated with Sandur Kushala Kala Kendra came together to create G1 tagged Sandur Lambani embroidery having 1755 patchworks.

Indra Nooyi & Jayshree Ullal among four Indian-origin biz leaders on Forbes’ 100 richest self-made women list
Four Indian-origin women, including Jayshree Ullal and Indra Nooyi, have made it to the Forbes list of America’s 100 most successful self-made women, with a combined net worth of a whopping USD 4.06 billion.

• Building supply distributor Diane Hendricks, with a $15 billion net worth, retained the top spot for the sixth year in a row. This year’s list has eight entrants, including television producer Shonda Rhimes and Insitro CEO Daphne Koller.
• President and CEO of Arista Networks, a computer networking firm; Jayshree Ullal(15th, USD 2.4 billion) co-founder of IT consulting and outsourcing firm Synte; Neerja Sethi(25th, USD 990 million) co-founder and former chief technology officer (CTO) of cloud company Confluent; Neha Narkhede(28th, USD 520 million) and PepsiCo’s former chair and CEO Indra Nooyi(77th, USD 350 million) made it to Forbes list of ‘America’s Richest Self-Made Women.

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