Daily Current Affairs 7th July, 2023

Daily Current Affairs 7 July 2023 for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

Taiwan to establish ‘Taipei Economic and Cultural Center’ in Mumbai to bolster ties with India
Taiwan will be establishing the ‘Taipei Economic and Cultural Centre’ in Mumbai to expand mutually beneficial trade and investment opportunities between Taipei and New Delhi.

• In 2012, TECC was set up in Chennai, after which nearly 60 per cent of all Taiwanese businesses investing and opening factories in India have chosen to develop their operations in southern India.
• The investments made by Taiwanese manufacturing industries have also benefitted Chennai and its surrounding areas. The establishment of the TECC in Mumbai is expected to have a similar effect in Western India, the release stated.

Cabinet approves Digital Personal Data Bill
The Union Cabinet approved the Digital Personal Data Protection Bill (DPDP), paving the way for voluntary disclosures of data breaches by companies while also providing an alternate dispute resolution mechanism, senior officials said.

• The ministry of electronics and information technology (MEITY) will table the bill in the Parliament in the upcoming monsoon session, they added.
• This much-awaited draft has done away with most criminal provisions for data breaches present in previous versions. However, it empowers the Data Protection Board (DPB) to levy a penalty of up to Rs 250 crore on organisations found to be in breach. It can also increase such fines to a maximum of Rs 500 crore with requisite cabinet approval. Such increases will not require any amendments to the Law.

Gutti Koya tribe erect Stone Memorials
Gutti Koya tribe people erected stone memorials in Ramchandrapuram Village, inside forest on Andhra Pradesh-Chhattisgarh border. These stone memorials erected to give tribute to the three most important dignitaries- physician, priest and village leader.

• Gutti Koya tribe is concentrated in Telangana, Andhra Pradesh, Chhattisgarh and Odisha.They speak the Koya, which is a Dravidian language.
• The most important fair celebrated by Koyas is the Sammakka Saralamma Jatraonce in two years on full moon day of the Magha Masam (January or February) at Medaram village in Mulug taluk of Warangal district.

Indian, US navies conduct SALVEX at Kochi
Indian and the United States’ navies conducted their seventh edition Salvage and Explosive Ordnance Disposal (EOD) exercise, SALVEX from June 26 June to July 6 at Kochi in Kerala.

• The two navies have been participating in joint Salvage and EOD exercises since 2005.SALVEX also saw conduct of joint training exercises towards enhancing interoperability, cohesiveness and gaining from best practices mutually in maritime salvage and EOD operations.
• The exercise saw participation INS Nireekshak from Indian Navy and from the US Navy USNS Salvor. Besides, specialist diving and EOD teams also participated in the exercise.

BANKING & FINANCE

PNB launches its virtual branch in the Metaverse
State-owned Punjab National Bank (PNB) announced the launch of a virtual branch, PNB Metaverse.

• It is a virtual branch of the bank, which will deliver a unique experience of banking to existing and new customers, who can now explore the bank’s products and services such as bank deposits, retail/MSME loans, digital products, women/senior citizens, ‘Do It Yourself’ and government flagship schemes, PNB said.
• In addition, the bank will offer an immersive 3D experience to the customers while performing traditional banking activities through their digital avatars.

SPORTS

Netherlands Men Team wins second FIH Hockey Pro League Title
The Netherlands men’s hockey team has emerged as the champions of the FIH Hockey Pro League 2022/23 season with a total of 35 points. This victory marks their second title in the men’s competition, making them the first team to win the championship twice. They successfully defended their first title, which they won in the previous season.

• The Indian men’s hockey team secured the fourth position in the FIH Pro League 2022-23 with 30 points from 16 matches.
• This is the second time that India has finished in fourth place in the FIH Pro League, with their previous fourth-place finish in the debut season of 2020-21.
• Notably, Indian captain Harmanpreet Singh emerged as the top-scorer of the FIH Pro League 2022-23, scoring a remarkable 18 goals.

Bangladesh captain Tamim Iqbal announces retirement
Bangladesh one-day captain Tamim Iqbal announced his shock retirement from international cricket, three months before the team begins its ODI World Cup campaign in India.

• The announcement came a day after Bangladesh’s loss in the first One Day International (ODI) against Afghanistan, in which Tamim, who by his own admission was not 100 percent fit, scored just 13 runs
• The 34-year-old batsman scored 8,313 runs in the 241 ODIs he played for Bangladesh during a 16-year career, hitting 14 centuries – both run-scoring statistics being the highest by any Bangladeshi batsman.

SCIENCE & TECHNOLOGY 

Elena introduces India’s First NavIC – Based PNT Device
In a major boost to India’s pursuit of ‘aatmanirbharta’ (self-reliance) in navigation applications and services, Bengaluru-based firm Elena Geo Systems launched a handheld NavIC-based navigator. 

• The navigation device, which can provide precise directions in tasks related to infrastructure projects involving railway, land survey, telecoms and hydrocarbon exploration, was unveiled on the occasion of World Telecom Day(May 17) in New Delhi.

SpaceX gets licenses in Mongolia to offer high-speed internet
The Government of Mongolia has granted SpaceX licenses to operate as an internet service provider using low orbit satellites.

• According to an announcement, two licenses have been awarded, Livemint reports. They allow the company to operate as an internet service provider using low Earth orbit satellites.
• Starlink has established a rapidly expanding network comprising over 3,500 satellites in low-Earth orbit, enabling connectivity even in remote regions. While Mongolia already benefits from an extensive network of fiber optic cables that offer widespread access to high-speed internet, the introduction of Starlink’s technology will further enhance connectivity in areas that are typically challenging to reach.

OBITUARIES

Well known Painter and sculptor Namboothiri passes away
A doyen in literary illustrations, sculptures and line sketches in Kerala, KM Vasudevan Namboothiri, commonly known as Artist Namboothiri, passed away at a private hospital in Kottakkal. He was 97.

• During his decades-long career, Namboothiri illustrated many popular characters for literary publications in the state. He has done some really popular literary works, which include characters of doyens of Malayalam literature like Jnanpith laureates M T Vasudevan Nair, Thakazhi Sivasankara Pillai and S K Pottakkad and legends like Vaikom Muhammad Basheer.

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