Daily Current Affairs 14th & 15th May, 2023

Daily Current Affairs 14 & 15 May 2023 for Banking/Insurance/SSC and other related exams.

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MoPSW ranked 2nd amongst the Ministries / Departments in the Survey Report on Data Governance Quality Index
The Ministry of Ports, Shipping and Waterways (MoPSW) has achieved a remarkable feat, securing the second position among 66 ministries in the highly influential Data Governance Quality Index (DGQI) assessment for 2022-2023 Q3. The Ministry has achieved an impressive score of 4.7 out of 5, further highlighting the ministry’s commitment to excellence in data governance.

  • Conducted by the Development Monitoring and Evaluation Office (DMEO), NITI Aayog, the DGQI survey aims to measure the maturity level of administrative data systems and their use in decision-making of various Ministries and Departments on the implementation of Central Sector Schemes (CS) and Centrally Sponsored Schemes (CSS).

Smriti Zubin Irani launches “Poshan Bhi, Padhai Bhi”, an Early Childhood Care and Education program 
Union Women and Child Development Minister, Smriti Zubin Irani launched “Poshan Bhi, Padhai Bhi”, an Early Childhood Care and Education program under Mission Saksham Anganwadi and Poshan 2.0.

  • Under this campaign, work will be done in Anganwadis across the country to provide nutrition as well as better education to children in the age group of 3 to 6 years.
  • There are about 13 lakh 90 thousand Anganwadis across the country, in which work is being done to provide better nutrition as well as better education to the students.

Govt sets up Centre for Processing Accelerated Corporate Exit
The government said that it has set up the Centre for Processing Accelerated Corporate Exit (C-PACE) to ensure timely and process-bound deregistering of companies from records as well as provide more meaningful data to the stakeholders. The centre has been set up by the corporate affairs ministry.

  • The establishment of the C-PACE will help to reduce the stress on the Registry along with keeping the registry clean besides availability of more meaningful data to the stakeholders.
  • The C-PACE will also benefit the stakeholders by providing hassle-free filing, timely and process-bound striking off their company’s names from the register.

Karnataka tops Manufacturing Innovation Index, three southern states in top five
Karnataka has ranked first in the Indian Manufacturing Innovation Index (IMII) 2021-22, released by the Department of Science and Technology, and the United Nations Industrial Development Organization (UNIDO). Out of five southern states, three figure among the top five, with Telangana at the third position and Tamil Nadu coming in fourth.

  • Kerala has obtained the 13th rank, whereas Andhra Pradesh has obtained the 22nd rank. Among the major states category, Karnataka, Telangana and Tamil Nadu have performed above the national norm, whereas Kerala has had average performance. Andhra Pradesh is in the low performing category.


India-Indonesia bilateral exercise ‘Samudra Shakti-23’ begins
INS Kavaratti, indigenously designed & built ASW Corvette, arrived at Batam, Indonesia to participate in the 4th edition of India-Indonesia Bilateral exercise Samudra Shakti-23 from 14-19 May 23. An Indian Navy Dornier Maritime Patrol aircraft and Chetak helicopter is also participating.

  • The Indonesian Navy will be represented by KRI Sultan Iskandar Muda, CN 235 Maritime Patrol Aircraft and AS565 Panther Helicopter.
  • Exercise Samudra Shakti is aimed at enhancing interoperability, jointness and mutual cooperation between both the navies.


RBI ask banks to complete transition away from LIBOR from July 1
The Reserve Bank of India (RBI) has asked banks and financial institutions to adopt by July 1 a widely accepted Alternative Reference Rate, such as the Secured Overnight Financing Rate (SOFR), to complete the transition from the scandal-hit London Interbank Offered Rate (LIBOR) and Mumbai Interbank Forward Outright Rate (MIFOR).

  • Banks and private companies were using LIBOR as the benchmark rate for raising funds abroad. It was a key benchmark for setting the interest rates charged on adjustable-rate loans, mortgages and corporate debt.
  • New transactions are now predominantly undertaken using SOFR and the Modified Mumbai Interbank Forward Outright Rate (MMIFOR), the central bank said. SOFR is considered a more accurate and more secure pricing benchmark.

Rukart ties up with SBI for easy loans to customers buying cold storage system ‘Subjee Cooler’
Agritech firm Rukart, which sells ‘Subjee Cooler’ to enhance shelf life of fruits and vegetables, has tied up with SBI to help potential customers in getting easy loan options to buy the product.

  • Founded in May 2019, Rukart manufactures Subjee Cooler, a cold chain storage system that requires only 20 liters of water a day to function. It increases the shelf life of fruits, flowers and vegetables by 4-6 days.


Netherlands emerges as major trading partner of India in 2022-23
The Netherlands has emerged as India’s third largest exports destination after the US and UAE during 2022-23 on account of a surge in shipment of goods such as petroleum products, electronic items, chemicals, and aluminium goods, according to the data of the commerce ministry.

  • India’s trade surplus with the Netherlands has also increased from USD 8 billion in 2021-22 to USD 13 billion in 2022-23.
  • The Netherlands has taken over major destinations such as the UK, Hong Kong, Bangladesh and Germany, the data showed.


Telangana’s Prraneeth Vuppala becomes 82nd Grandmaster of India
Telangana’s Prraneeth Vuppala has become India’s 82nd Grandmaster after he achieved the required 2,500 FIDE rating points during the Baku Open tournament. 

  • The State chess player had already achieved three GM norms earlier and needed to cross 2,500 rating points.
  • got the required points after defeating GM Hans Niemann of the USA in the penultimate round of the Baku Open. Prraneeth is now the sixth Grandmaster from the State of Telangana.


Jayant Narlikar awarded with lifetime achievement award by Astronomical Society of India
Renowned astronomer and founder director of IUCAA, Prof Jayant V. Narlikar, received the inaugural Govind Swarup Lifetime Achievement Award from the Astronomical Society of India (ASI).

  • Narlikar is a past president of ASI and was the founding director of the Inter-University Centre for Astronomy and Astrophysics (IUCAA). He is known for his work on cosmology and gravitation, and has made significant contributions to the understanding of the evolution of the universe.

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