Daily Current Affairs 27 May 2023 for Banking/Insurance/SSC and other related exams.
NOTE: To read complete Current Affairs, subscribe to our plan. All important news are not covered here.
New committee formed to monitor cheetah project at Kuno amid recent deaths
The National Tiger Conservation Authority (NTCA) has formed an 11-member Cheetah Project Steering Committee, with Rajesh Gopal, Global Tiger Forum’s secretary general, as its chairman. The committee was formed after a meeting with the additional chief secretary of the Madhya Pradesh government.
- Alongside the committee is a consulting panel of international Cheetah experts. This four-member panel comprises South African veterinary specialist Professor Adrian Tordiffe; Dr Laurie Marker of Cheetah Conservation Fund, Namibia; Dr Andrew John Fraser of Farm Olievenbosch, South Africa; and Vincent van der Merwe, manager of Cheetah Metapopulation Project.
- The NTCA had created a group to oversee the well-being and progress of cheetahs brought from Namibia, in October 2020. The team had nine members.
Indian Govt introduce 30% Subsidy for Sustainable Shipping Construction
The Indian government has introduced a series of measures aimed at promoting the adoption of environmentally friendly technology in the shipping sector. These initiatives include offering financial assistance and focusing on upgrading ports.
- Under the first of the five initiatives, the government will increase the financial support level when companies are building green shipping. Under the financial aid for shipbuilding, the government currently provides 20 percent financing, reduced by three percent a year, for newly constructed vessels.
- For green vessels, the government will increase the support to 30 percent of the total project cost. They believe this will create an incentive for shipowners to adopt alternative fuels.
Centre to launch new ₹75 Coin to mark new Parliament Inauguration
To mark the inauguration of the new Parliament building, the Union Finance Ministry will launch a ₹75 coin, as per a notification issued by the Ministry.
- Prime Minister Narendra Modi is scheduled to inaugurate the new Parliament building on May 28.
- The coin will have a circular shape with a diameter of 44 millimetres. The composition of the coin will be of a quaternary alloy — 50 percent silver, 40 percent copper, 5 percent nickel, 5 percent zinc
Ireland set to implement Alcohol Health Warnings, leading global efforts
Ireland is the first country in the European Union (EU) to ensure that, from 2026, all alcohol products will have comprehensive labelling about health risks from consumption, including warnings about the risks of developing cancers.
- The new legislation, signed into law by health minister Stephen Donnelly, will take effect in May 2026 to give producers the time to add the detailed warnings about calorie content, grammes of alcohol and the risk of cancer, liver disease and drinking while pregnant to drinks’ labels.
WMO approves Global Tracker for Greenhouse Gas Emissions
The World Meteorological Congress has approved a new greenhouse gas (GHG) monitoring initiative in a landmark decision, the World Meteorological Organization (WMO) said in a press note.
- The initiative supports urgent action to reduce heat-trapping gases, which are fuelling temperature increases.
- The new global GHG watch will fill critical information gaps and provide an integrated and operational framework. The framework will bring all space-based and surface-based observing systems, as well as modelling and data assimilation capabilities, under one roof.
BANKING & FINANCE
HDFC Bank partners Manipal Global to build up a talent pipeline
HDFC Bank, one of India’s premier private sector lenders, has announced a strategic partnership with Manipal Global Skills Academy to launch the Leadership Excellence Program (LXP).
- The program aims to hire and train women branch managers and enhance gender diversity within the Organization.
- The one-year professional diploma, offered in collaboration with Manipal Global Academy of BFSI, incorporates classroom sessions, guest lectures, group discussions, role plays, and practical fieldwork. The programme includes eight months of paid internship and on-the-job training at HDFC Bank branches nationwide.
BUSINESS & ECONOMY
Forex reserves dip $6.1 billion to $593.48 billion
India’s foreign exchange reserves saw a fall of $6.052 billion to $593.477 billion as on May 19, 2023, as per Reserve Bank of India data updated. The drop in the kitty has snapped two consecutive weeks of increases.
- India’s forex kitty had jumped $3.553 billion to $599.529 billion for the week ended May 12.
- Expressed in dollar terms, the foreign currency assets (FCAs) include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. India’s total FCA saw a dip of $4.654 billion to $524.945 billion.
ACQUISITIONS & MERGERS
RBI approves merger of Maratha Co-op Bank with Cosmos Co-op Bank
The Reserve Bank of India (RBI) has granted approval for the voluntary Scheme of Amalgamation of Maratha Sahakari Bank with Cosmos Co-operative Bank. The merger is set to take effect from May 29, 2023, as announced by the RBI.
- The central bank had placed Maratha Sahakari Bank, which was founded in 1946 and has seven branches in Mumbai, under Directions under Section 35 of the Banking Regulation Act, 1949, on August 31, 2016. The Directions were extended from time to time.
R Dinesh appointed as CII President for 2023-24
The Confederation of Indian Industry (CII) has elected R Dinesh, the Executive Vice Chairman of TVS Supply Chain Solutions as its President for 2023-24.He takes over from Sanjiv Bajaj, the Chairman and Managing Director of Bajaj Finserv Limited.
- Dinesh is a fourth-generation member of the TVS family. He founded TVS Supply Chain Solutions (formerly known as TVS Logistics) in 1995 and steered the company into a billion-dollar organisation. Under his leadership, the company also expanded into more 50 countries.
Tipu Sultan’s sword creates new auction record in UK, fetches over GBP 14 million
The 18th century Mysore ruler Tipu Sultan’s fabled sword found in the private bedchamber has broken all auction records for an Indian object for Bonhams in London by fetching over GBP 14 million at its Islamic and Indian Art sale this week.
- As per details, the sword from Tipu Sultan’s reign between 1782 and 1799, is described as a fine gold koftgari hilted steel sword referred to as sukhela, which is an emblem of authority.