Daily Current Affairs 4 May 2023 for Banking/Insurance/SSC and other related exams.
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Telangana to introduce insurance scheme for toddy tappers
The Telangana government has announced a new insurance scheme for toddy tappers called ‘Geetha Karmikula Bhima.’ The scheme is similar to the ‘Rythu Bhima’ program for farmers and is aimed at providing financial assistance to the families of toddy tappers who die due to accidents while collecting toddy from palm trees in the fields.
- Under the new scheme, an insurance amount of Rs. five lakh will be deposited directly into the bank account of the family members of the deceased toddy tapper. The insurance amount will be disbursed within a week of the accident, which is much faster than the current ex-gratia process.
Himachal Cabinet approves monthly incentive of Rs 1,500 for women of Spiti
The Himachal Pradesh Cabinet, under the leadership of Chief Minister Sukhvinder Sukhu, has announced a monthly incentive of Rs 1,500 for women in the Spiti Valley.
- The incentive will be provided to all eligible women, including Buddhist nuns, above the age of 18 years. This initiative is called the Indira Gandhi Mahila Samman Nidhi.
- The decision was made during a Cabinet meeting held. Apart from the incentive, the Cabinet also approved several other measures to improve the financial condition of the state.
Karnataka most innovative state in manufacturing followed by Telangana, finds govt survey
A survey on the degree of innovation among manufacturing firms found that Karnataka, overall, is the most “innovative” State, followed by Telangana, and Tamil Nadu. The National Manufacturing Innovation Survey (NMIS) 2021-22, released earlier this month, also found that innovation in manufacturing is the lowest in the Northeastern states (excluding Assam), followed by Bihar.
- According to the report, which has carried out its survey across over 8,000 firms in 28 states and 6 Union Territories (UTs), covering manufacturing and related service sector and MSMEs, found that there is a need to increase innovation in manufacturing.
- It stated that an increase in innovation carried out by firms has resulted in higher sales for them. A focus on innovation in manufacturing will also push India’s ranking up in the Global Innovation Index.
India slips in World Press Freedom Index, ranks 161 out of 180 countries
According to the latest report from global media watchdog Reporters Without Borders (RSF), India has slipped to the 161st position out of 180 countries in the 2023 World Press Freedom Index. The report was released by RSF, and it indicates a decline in India’s ranking for press freedom.
- There are more than 100,000 newspapers (including 36,000 weeklies) and 380 TV news channels currently operating in the country. Since January 1, 2023 one journalist was killed in the country while 10 journalists are behind bars. This year’s report shows the number of countries deemed “satisfactory” for their treatment of journalists rising slightly, but so does the number where the situation is “very serious”.
- Nordic countries like Norway, Ireland, and Denmark ranked top three respectively while Vietnam, China, and North Korea were the bottom three countries on the index.
BANKING & FINANCE
UPI merchant payments to reach $1 trillion by FY26: Report
Unified Payments Interface (UPI) merchant payments may reach $1 trillion by FY26, according to Bain and Company which was quoted as saying in the Future of India Retail Payments report published.
- Driven by a growth rate of 40 per cent-50 per cent, the rise in UPI merchant payments will also be driven by increased awareness, growth in merchant acceptance of UPI, new payment features introduced such as UPI Lite and UPI 123 Pay along with the opening up of international payment corridors on the domestic payment railroad, says a report.
Airtel Payments Bank Partners NPCI To Roll Out Face Authentication For AePS
Airtel Payments Bank has collaborated with the National Payments Corporation of India (NPCI) to introduce face authentication for the Aadhaar-enabled Payment System (AePS) at its five lakh banking points. The move comes as one of the first initiatives of its kind in India, where four banks have partnered with NPCI to offer face authentication for AePS.
- AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account.
- Until now, transactions were being authenticated using the customer’s Aadhaar number and fingerprint or iris match in the UIDAI records. The new facility will enable customers to validate the transaction by undertaking face authentication along with the Aadhaar number.
BUSINESS & ECONOMY
Apple, Google collaborate to combat creepy tracking tactics
Apple and Google, together with Samsung and other companies like Tile, Chipolo, and Pebblebee, have collaborated to combat unwanted tracking through Bluetooth devices that were initially designed to help locate lost items such as keys or luggage.
- These companies have jointly submitted a proposal to create standards for preventing secret surveillance on Apple’s AirTag trackers and similar products.
- While AirTags have become popular for helping users locate lost property, they have also been misused by stalkers to track unsuspecting individuals, making this joint proposal all the more necessary.
Microsoft launches new initiatives to offer tech support to Indian SMBs
Microsoft India has announced two new initiatives aimed at supporting small and medium-sized businesses (SMBs) in their digital transformation journey.
- The tech giant has launched a dedicated helpline and a comprehensive website, specifically designed to help Indian SMBs address their business challenges, improve operations, increase efficiency, and drive growth.
- The first initiative, the SMB-focused website – Microsoft for Small and Medium Businesses, brings together business owners and entrepreneurs in India to network with peers, enhance their skills and achieve holistic growth.
- The second initiative is the Digital Transformation Helpline, which offers dedicated support to help SMBs navigate their technological adoption and deployment journey.
Nepal wins ACC Men’s Premier Cup
Nepal have qualified for the Asia Cup 2023 after winning the ACC Men’s Premier Cup. The team, led by Rohit Paudel defeated the United Arab Emirates (UAE) by seven wickets in the final that was played across two days at the Tribhuvan University International Cricket Ground in Kirtipur.
- Put into bat, UAE struggled to find their momentum as they lost wickets at regular intervals and were eventually bowled out for a below-par score of 117 in 33.1 overs.
- Asif Khan top-scored for UAE with a patient knock of 46 runs off 54 balls, while Lalit Rajbanshi was the pick of the bowlers for Nepal with excellent figures of 4 wickets for just 14 runs in 7.1 overs.
AI ‘godfather’ Geoffrey Hinton quits Google
Geoffrey Hinton, who has been called the ‘Godfather of AI,’ confirmed that he left his role at Google last week to speak out about the “dangers” of the technology he helped to develop.
- Hinton’s pioneering work on neural networks shaped artificial intelligence systems powering many of today’s products. He worked part-time at Google for a decade on the tech giant’s AI development efforts, but he has since come to have concerns about the technology and his role in advancing it.