Daily Current Affairs 12th July, 2023

Daily Current Affairs 12 July 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

‘Schedule M compliance to be made mandatory for MSME pharma firms soon’: Mandaviya
The Union government said that it would make rules for good manufacturing practices compulsory for pharmaceutical companies belonging to the MSME sector in a phased manner even though compliance to such practices were made mandatory by law more than two decades ago.

• Union Health and Pharmaceutical Minister Mansukh Mandaviya met the representatives of the medium and small scale industries and told them that GMP practices shall be made compulsory for them in a phased manner, causing confusion among the stakeholders.
• Schedule M part of Drugs and Cosmetics Act 1940 deals with ‘Good Manufacturing Practices’ for pharmaceuticals that should be followed by pharmaceutical manufacturing units in India

INTERNATIONAL NEWS

India, Bangladesh launch trade transaction in rupees
Bangladesh and India launched the much-anticipated trade transaction in rupees, a move aimed at reducing dependence on the US dollar and strengthening regional currency and trade.

• Officials said under the formal arrangement, trade would be transacted in rupee and then gradually in Bangladeshi currency.
• Banks in Bangladesh and India have been given permission to open nostro accounts, an account in a bank of another country for the purpose of foreign currency transactions. The exchange rate will be fixed in line with market demand and banks involved in the process.

PM Modi to attend Bastille Day Parade as Guest of Honour in Paris, France on 14th July
Prime Minister Narendra Modi will attend this year’s Bastille Day Parade as Guest of Honour in Paris, France on the 14th of July.

• Mr Modi’s visit to France is high on both symbolism and substance. A Tri-services contingent from India, including IAF aircraft, will participate in the Bastille Day Parade. It is uncommon for foreign leaders to be invited as Guests of Honour for Bastille Day. Foreign marching contingents and foreign aircraft participating in it are also rare.

WMO revives ozone-UV bulletin after 7 years, shows steady recovery of ozone layer
The World Meteorological Organization (WMO) has published an updated bulletin on the ozone layer, signaling promising signs of recovery.

• After a seven-year hiatus, the WMO-Global Atmosphere Watch bulletin has returned to provide the latest information on stratospheric ozone and ultraviolet radiation worldwide. Until 2016, it was brought out by WMO in collaboration with the European Ozone Research Coordinating Unit.
• The annual bulletin will provide the latest information on stratospheric ozone and ultraviolet radiation around the world.As of today, 99 per cent of their production and use has been phased out, according to WMO. And a steady recovery of the ozone layer has been observed as a result.

BANKING & FINANCE

UPI QR codes for transactions in CBDC soon: RBI 
Customers will be able to use QR codes of Unified Payment Interface (UPI) network for transactions using digital currency by end of this month, said Reserve Bank of India’s deputy governor T. Rabi Sankar.

• The customers would be able to use a single QR code to pay through UPI and CBDC. Thirteen banks have placed the system, and the central bank aims to reach 1 million transactions through CBDC per day by the end of the current calendar year, Rabi Sankar said. At present, banks process 5,000-10,000 transactions per day.

BUSINESS & ECONOMY

ONGC becomes the first CPSE in India to receive certification for its Anti-Bribery Management System
Oil and Natural Gas Corporation (ONGC) has recently made history by becoming the first Central Public Sector Enterprise (CPSE) in India to receive certification for its Anti-Bribery Management System (ABMS). The certification was awarded by the internationally accredited certification body InterCert USA.

• ONGC was the first organization in India that adopted the Integrity Pact (IP) by Transparency International in 2005.
• An international accredited certification body InterCert USA allows organizations to prevent, detect and address bribery by adopting an Anti-bribery policy, appointing person(s) to oversee anti-bribery compliance, training, risk assessments and due diligence on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures.

SPORTS

India top medals tally in 34th International Biology Olympiad, secures four gold medals
India topped the medals tally in the 34th International Biology Olympiad (IBO) by securing four gold medals. India has for the first time turned in an all-gold performance and topped the medal tally in IBO.

• According to Homi Bhabha Center for Science and Education (HBCSE),  the winners are Megh Chhabda from Jalna district of Maharashtra, Dhruv Advani from Bengaluru in Karnataka, Ishan Pednekar from Kota, Rajasthan and Rahit Panda from Risali, Chhattisgarh.
• IBO was held in Al Ain in UAE this year between 3 to 11 July. 293 Students from 76 countries participated in IBO. Besides India, Singapore was the only one that secured four gold medals. In all, 29 gold medals were awarded.

APPOINTMENTS

Latvia swears in EU’s first openly gay president
Edgars Rinkevics was historically sworn in as the European Union’s first openly gay head of state, as Latvia’s seventh president.

• The former foreign minister was sworn in as president of Latvia during a ceremony in Riga following his election win earlier in 2023.

AWARDS

Wanindu Hasaranga, Ashleigh Gardner win ICC ‘Player Of The Month’ award
The International Cricket Council (ICC) announced Wanindu Hasaranga, the Sri Lankan spinner, and Ashleigh Gardner, the Australian women’s team all-rounder, as the recipients of the ‘Player of the Month’ award for their remarkable performances in June.

• Women’s Ashes hero Ashleigh Gardner becomes the first player to win three Player-of-the-Month accolades.

SCIENCE &  TECHNOLOGY 

India welcomes its first regional AI news anchor, ‘Lisa’
In a significant milestone for the AI industry, Odisha TV, an Odia-based news station, has unveiled “Lisa,” India’s first regional AI news anchor.

• Lisa’s introduction marks a groundbreaking moment in TV broadcasting and journalism, with the potential to revolutionize the industry.
• The news station revealed that she would soon be hosting news updates, showcasing her capabilities as an AI news anchor. Lisa possesses the remarkable ability to speak multiple languages, including Odia, English, and others

IMPORTANT DAYS

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