Daily Current Affairs 2nd & 3rd April, 2023

Daily Current Affairs 2 & 3 April 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

Giriraj Singh launches ‘Captive Employment’ initiative under DDU-GKY
The Union Minister for Rural Development, Shri Giriraj Singh, has launched an innovative Captive Employer initiative under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) in New Delhi.

• This program aims to train rural poor youth and provide employment opportunities through 19 captive employers who will offer training in different sectors, including hospitality, textiles, retail, and telecommunications. More than 31,000 rural youth are expected to receive training and employment opportunities through this scheme.
• During the event, 19 employers signed Memorandums of Understanding (MoU) to become captive employers and engage in this initiative, which is expected to bridge the gap between job seekers and job providers.

PM Modi flags off Bhopal-Delhi Vande Bharat Express train
Prime Minister Narendra Modi flagged off the Bhopal-Delhi Vande Bharat Express train in Madhya Pradesh capital. The semi-high speed train was flagged off at the Rani Kamalapati railway station in Bhopal city.

• The new train being introduced between Rani Kamlapati Railway station, Bhopal and New Delhi railway station will be the 11th Vande Bharat service and 12th Vande Bharat train in the country.

India-Sri Lanka maritime exercise SLINEX 2023 begins in Colombo
The 10th edition of IN-SLN bilateral maritime exercise SLINEX-23 held at Colombo, the Ministry of Defence said.

• The exercise is being conducted in two phases – the Harbour Phase in Colombo from 3-5 April , followed by Sea Phase from 6-8 April, off Colombo.
• The Indian Navy will be represented by INS Kiltan (Advanced Anti Submarine Warfare Corvette) and INS Savitri (Offshore Patrol Vessel) while Sri Lanka Navy will have SLNS Gajabahu (Advance Offshore Patrol Vessel) and SLNS Sagara (OPV), according to the press release.

INTERNATIONAL NEWS

Britain forges biggest trading deal since Brexit, set to join trans-Pacific pact
In a significant development for post-Brexit Britain, the UK has reached its largest trade deal yet. The country is set to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which covers a market of around 500 million people with a combined GDP of £9tn.

• The deal will remove tariffs on a range of British exports to member countries, including whisky, cars, and beef, and will give UK businesses greater access to fast-growing markets in the Asia-Pacific region. The agreement will also create new opportunities for UK services, particularly in areas such as digital trade, financial services, and professional services.
• The UK’s membership of the CPTPP is expected to boost trade between the UK and member countries by around £9bn, or 0.08% of GDP. The government has also said that joining the CPTPP will help to diversify the UK’s trading relationships and reduce the country’s reliance on any one market.

BUSINESS & ECONOMY

India’s unemployment rate rises to 3-month high of 7.8% in March: CMIE
India’s unemployment rate climbed to a three-month high of 7.8% in March amid concerns a global slowdown will hurt Asia’s third-largest economy.

• Urban joblessness remained elevated at 8.4%, compared with about 7.5% in rural areas, according to data from the Mumbai-based Centre for Monitoring Indian Economy. In February, the overall rate was 7.5%.
• The uptick follows early signs of cooling demand in the $3.2 trillion economy, where policy makers have been battling runaway inflation like their peers in the rest of the world. The Reserve Bank of India is likely to raise its benchmark interest rate for a seventh consecutive time on April 6, according to forecasts by economists.

GST collections increase 13% to Rs 1.6 lakh crore in March
India’s Goods and Services Tax (GST) revenue collection for the month of March 2023 is stood at 1.6 lakh crore rupees, which is 13 percent higher than the GST revenues in the same month of last year.

• Finance Ministry said it is for the fourth time, in the current financial year that the gross GST collection has crossed 1.5 lakh crore rupees, since the implementation of GST.
• Out of the total collection, CGST is 29,546 crore rupees, SGST is 37,314 crore rupees and IGST is 82,907 crore rupees, including 42,503 crore rupees collected on import of goods

SPORTS

Daniil Medvedev wins maiden Miami Open title
Russian tennis star Daniil Medvedev claimed his fourth title of the year by defeating Jannik Sinner in a closely-contested final match in Miami Opens 2023.

• Medvedev, who was once the top-ranked player in the world, has now won 24 out of his last 25 matches, including his latest victory at the prestigious Miami Open.
• The win marked his first-ever title win at the Miami Open. Medvedev clinched his fifth Masters 1000 title and 19th title overall by beating Sinner, who has also been in impressive form this season, with a scoreline of 7-5, 6-3. Interestingly, Medvedev has won each of his 19 titles in different tournaments. This was also his first Masters 1000 title since winning in Toronto back in 2021.

Verstappen wins in wild finish to F1 Australian Grand Prix
Red Bull’s Max Verstappen has claimed his first Australian Grand Prix 2023. Seven-time world champion Lewis Hamilton, who drove superbly in his Mercedes, finished second, while Aston Martin’s Fernando Alonso filled third spot on the podium.

• Verstappen had appeared to be coasting to victory with an eight-second lead when debris from Kevin Magnussen’s Haas forced the second of three red flags issued in the race with three laps remaining.

SCIENCE &  TECHNOLOGY 

ISRO successfully conducts ‘Reusable Launch Vehicle’ test from Karnataka
The Indian Space Research Organisation (ISRO) successfully conducted the Reusable Launch Vehicle Autonomous Landing Mission (RLV LEX) from the Aeronautical Test Range (ATR) in Karnataka’s Chitradurga.

• The autonomous landing was carried out under the exact conditions of a Space Re-entry vehicle’s landing high speed, unmanned, precise landing from the same return path as if the vehicle arrives from space. LEX utilized several indigenous systems. Localized Navigation systems, instrumentation, and sensor systems, etc. were developed by ISRO.”

‘MF Hydra’: World’s first liquid hydrogen-powered ferry gets operational
Norwegian company Norled has successfully launched the world’s first ferry that runs on liquid hydrogen. 

• The vessel, called MF Hydra, is a hybrid that uses both batteries and liquid hydrogen fuel cells. It underwent sea trials for two weeks after initial testing at Hjelmeland quay earlier this year.
• The Norwegian Maritime Authority (NMA) has given final approval for the ferry to operate. This milestone achievement is a significant step towards reducing greenhouse gas emissions in the maritime industry, as hydrogen fuel cells produce only clean water as a byproduct.

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