Daily Current Affairs 23 & 24 April 2023 for Banking/Insurance/SSC and other related exams.
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India launches ‘Operation Kaveri’ to bring back citizens stranded in Sudan
India has launched Operation Kaveri to bring back its citizens stranded in Sudan. External Affairs Minister Dr S Jaishankar in a tweet said that nearly 500 Indians have reached Port Sudan and more are on their way.
- He said, Indian ships and aircraft are set to bring stranded Indian nationals back home. He added that the Government of India is committed to assisting all its brethren in Sudan.
Ministry of Health proposes 100 food streets across country to promote hygiene and safety
In a significant and innovative move, Union Health Ministry in collaboration with Ministry of Housing & Urban Affairs has requested states/UTs to develop 100 food streets in 100 districts across the country.
- This initiative is being taken up as a pilot project to create an example for other such streets to come up across the country for ensuring hygienic and safe food practices.
- The aim of this project is to encourage safe and healthy food practices among food businesses and community members, thus, reducing foodborne illnesses and improving the overall health outcomes.
Mongolia refinery to be built by India by 2025
Mongolia will have its first oil refinery up and running by 2025. The first phase of the $1.2 billion Indian soft loan-funded Mongol Oil Refinery will be finished by the end of the year.
- Given that Russia is the only source of energy imports for Mongolia, the development has strategic ramifications.The refinery will enable Mongolia to satisfy 70% of its domestic demand.
- According to the nation’s ambassador, Dambajav Ganbold, the first oil refinery in Mongolia, which is being constructed on the outskirts of the capital city of Ulaanbaatar with funding from India, would be finished by 2025.
BANKING & FINANCE
Mastercard collaborates with M1xchange to roll out digital invoice discounting solution for FPOs and agri-MSMEs via Farm Pass
Mastercard announced its collaboration with M1xchange to offer a digital invoice discounting solution to farmers, farmer producer organizations (FPOs), and agri-MSMEs through Farm Pass, its cutting-edge agritech platform. Along with enabling easy access to credit and working capital, the solution will allow farmers and FPOs to directly connect with buyers, negotiate the best price for their produce, and get paid faster.
- As part of the collaboration, M1xchange, an RBI-approved facilitator for discounting and sale of receivables to banks and non-banking financial companies (NBFCs), will bring on board its vast network of agri-businesses and lenders.
- The solution jointly developed by the two organizations is the first of its kind for the agriculture sector and will help lenders in underwriting credit offerings through the Trade Receivables Discounting System (TReDS).
BUSINESS & ECONOMY
Dairy sector contributes 5% to the country’s GDP and livelihood to 8 crore families in India: President Murmu
President Droupadi Murmu said the dairy sector has a special role in making women self-reliant and changing their social and economic status.
- Addressing the convocation function of the Indian Council of Agricultural Research-National Dairy Research Institute (ICAR-NDRI) in Karnal, Ms. Murmu said women have over 70% participation in the dairy sector and should be provided easy loans and market access to set up new ventures.
- Speaking on the occasion, she said, the dairy sector also contributes about five percent to the country’s GDP and provides livelihood to about eight crore families in India. Hence, institutions like NDRI have an important role to play in the inclusive development of the country.
Log9 opens India’s first lithium-ion cell manufacturing facility
Bengaluru-based Log9 Materials, an advanced battery-technology and deep-technology startup, inaugurated India’s first commercial lithium-Ion (Li-ion) cell manufacturing facility on its campus in Jakkur. The facility will produce batteries for electric vehicles.
- Log9’s commercial Li-ion cell manufacturing line has an initial capacity of 50 MWh. This facility will cater to the manufacturing of lithium-titanate oxide and lithium iron phosphate cells.
India’s GDP to grow at 6.2% in FY24, RBI to cut rate in Q1 2024: Morgan Stanley
Morgan Stanley predicts that India’s gross domestic product will grow by 6.2% in FY24 due to the reopening of the economy, increased private sector investment, a cyclical recovery in consumption and an increase in government spending.
- The report also said the inflation in India is likely to be below 5 per cent in the second quarter of calendar year 2024.
- According to Morgan Stanley, the key for sustained domestic demand is a pickup in capex, which will help create more jobs, thus leading to a virtuous cycle of more jobs-to-higher income-higher savings-higher investment.
Kenya’s Kelvin Kiptum wins London Marathon men’s race with 2nd fastest time in history
Kelvin Kiptum, a 23-year-old Kenyan athlete, collapsed to the ground after achieving victory in the London Marathon and posting the second-best time in history for the distance.
- Kiptum broke the course record with an impressive time of 2 hours, 1 minute, and 25 seconds, falling short of Eliud Kipchoge’s world record by only 16 seconds.
- In the women’s elite race, Sifan Hassan emerged victorious in a thrilling race featuring possibly the strongest field ever. Despite falling off the pace and experiencing hip discomfort around the 15-mile mark, the 30-year-old Olympic champion in the 5,000 and 10,000-meter events caught up to the leaders with three miles to go.
PM GatiShakti national master plan wins award for excellence in public administration
At the 16th Civil Services Day Celebration in April 21,2023, Prime Minister Narendra Modi awarded the Excellence in Public Administration-2022 award to the PM Gati Shakti national master plan in the ‘Innovation (Central)’ category.
- The plan was launched in October 2021 to reduce logistics costs and streamline critical infrastructure projects. The plan aims to streamline critical infrastructure projects, including roads, railways, ports, airports, and telecom, and reduce logistics costs.
- The award recognizes the innovative approach of the plan towards improving the country’s infrastructure and its impact on public administration.
Gates named after Sachin Tendulkar, Brian Lara unveiled at Sydney Cricket Ground
Master blaster Sachin Tendulkar has turned 50 this year on 24 April and to honour him the iconic Sydney Cricket Ground in Australia has unveiled a gate named after him.
- Along with him, the SCG also unveiled a gate and named it after another cricketing legend Brian Lara, who will be sharing the honour with Sachin Tendulkar.
- The gates were be unveiled to mark Tendulkar’s 50th birthday and the 30th anniversary of Lara’s 277 at the SCG, in which he scored a century in the test played in January 1993.