Daily Current Affairs 5th April, 2023

Daily Current Affairs 5 April 2023 for Banking/Insurance/SSC and other related exams.

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Karnataka tops among 18 large states, says India Justice Report
According to the India Justice Report (IJR) 2022, which assesses the performance of states in terms of justice delivery, the state of Karnataka has achieved the top rank among the 18 large and mid-sized states with populations over one crore.

  • The report considers several parameters such as police, judiciary, prisons, and legal aid to assess the overall performance of each state.
  • The state of Tamil Nadu has secured the second position in the rankings, while Telangana has secured the third position.The State of Gujarat has got the fourth position and Andhra Pradesh is at slot five as per the report which was released on April 4 in New Delhi.
  • On the other hand, the state of Uttar Pradesh has been ranked at 18, which is the lowest among the states considered in the report. This report is based on 24-month quantitative research. The IJR 2022, like the previous two, has tracked the performance of States in capacitating their Justice delivery structures to effectively deliver mandated services.

India and Romania sign agreement for ‘practical cooperation between armed forces’
Romania’s deputy defence minister, Simona Cojocaru, recently met with India’s defence secretary, Giridhar Aramane, in New Delhi, during which the two countries signed their first Defence Cooperation Agreement. 

  • Cojocaru emphasised the significance of the pact, saying that it would provide the basis for expanding their military relationship and offering opportunities to work together in various fields.
  • She also noted that Romania and India had already collaborated in a multinational environment, such as UN missions, and highlighted their joint contribution to enhancing stability and strengthening peace and security.

IAF to conduct Exercise ‘Cope India’ with US Air Force 
Enhancing military cooperation between the two nations, the Indian Air Force and US Air Force are going to hold air exercise ‘Cope India’. With Japan as the observer nation, the air exercise will take place from April 10 to 21, 2023 at the air force base in Kalaikunda, West Bengal.

  • In the upcoming exercise, the Indian Air Force will participate with its frontline fighters aircraft SU-30MKI, Rafale and the indigenous Light Combat Aircraft (LCA) among other elements. On the other hand, the US Air Force contingent will reportedly participate with its F-15 fighter jets.


Bank of Maharashtra inaugurates its first dedicated Branch for Start-ups at Pune
State-owned Bank of Maharashtra (BoM) has opened its first dedicated branch for startups in Pune, Maharashtra.

  • The dedicated branch will provide all kinds of support to a startup during its growth journey. During the event Bank of Maharashtra signed an MoU with SIDBI venture capital for proactive financing of start-ups.

Fino Payments Bank and Rajasthan Royals ties up for Digital Banking Partner
Fino Payments Bank has renewed its association with Rajasthan Royals (RR) for the season 16 of IPL. Fino Bank will be RR’s official Digital Banking Partner.The bank made its maiden foray with the mega sporting event last season by partnering with RR as the Digital Payments Partner.

  • With the launch of its new FinoPay digital savings account, the bank hopes to gain more traction through its engagement with the Rajasthan Royals.
  • The partnership is expected to provide the bank with an opportunity to showcase its innovative digital banking solutions to a wider audience, and also promote financial inclusion in the country.

China’s Yuan replaces Dollar as most traded currency in Russia
In recent years, there has been a shift in the global currency landscape, with China’s yuan steadily gaining ground against the US dollar. This trend is reflected in Russia, where the yuan has now overtaken the dollar as the most traded currency.

  • According to data from the Moscow Exchange, the yuan accounted for 23.6% of Russia’s foreign exchange turnover in the first quarter of 2023, while the dollar’s share was 22.5%. This marks the first time the yuan has surpassed the dollar in Russia’s currency market.


India’s defence exports reach all-time high of Rs 16,000 crore
India has achieved a remarkable milestone as the country witnessed an all-time high level of defence export worth approx 16,000 crore rupees to over 85 countries.

  • In only six years defence export surged over 10 times amid number of reforms and policy initiatives taken by the government.
  • The rising defence exports and participation of over hundred countries in Aero India 2023 are proof of the country’s growing defence manufacturing capabilities


RBI appoints Neeraj Nigam as new Executive Director
The Reserve Bank of India (RBI) announced that Neeraj Nigam has been appointed as the new executive director (ED). Nigam was previously the regional director of the Bhopal office of the bank, and will now assume his new role as ED.

  • With over thirty years of experience, Neeraj Nigam has worked in various roles such as regulation and supervision, human resource management, premises, currency management, and bank accounts at both the central office and regional offices of the RBI.


Israel launches new Ofek-13 spy satellite into orbit
Israel successfully launched a new spy satellite, named Ofek-13, into orbit from the Palmachim Airbase in central Israel, is intended to provide advanced intelligence capabilities to the Israeli military and intelligence agencies.

  • The Ofek-13 satellite is the latest addition to Israel’s Ofek series of spy satellites, which have been in operation since 1988. The satellite is said to have advanced capabilities, including high-resolution imaging and the ability to transmit real-time intelligence to ground stations.

ISRO successfully carries out Re-usable Launch Vehicle Autonomous Landing Mission
The Indian Space Research Organisation ISRO has successfully carried out the Reusable Launch Vehicle Autonomous Landing Mission in Karnataka.

  • The test of Reusable Launch Vehicle RLV LEX was conducted at the Aeronautical Test Range in Chitradurga. A Chinook Helicopter of the Indian Air Force carried the launch vehicle to a height of 4.5 kms and released it in mid-air.
  • Based on 10 parameters like velocity, altitude and approach, the Reusable Launch Vehicle performed the landing maneuvers at 350 kilometers per hour speed, using the integrated navigation, guidance and control system and completed autonomous landing on the air strip.

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