Latest Current Affairs For Tuesday 4th April, 2023

Odisha CM disburses Rs 877 crore KALIA assistance to farmers

The Odisha CM Naveen Patnaik has released Rs 877 crore to 43 lakh farmers through direct benefit transfer (DBT) mode on the occasion of Utkal Divas (April 1).

The state government has extended another round of funds to Krushak Assistance for Livelihood and Income Augmentation (KALIA) for undertaking the Kharif operation.

About KALIA scheme:

It was launched in December 2018.

Aim: To reduce poverty and accelerate agricultural prosperity. 

PM Modi invited to France for Bastille Day parade

France has invited PM Narendra Modi to visit Paris as a guest at the annual Bastille Day parade, which will be held in July 2023.

The PM and French President Emmanuel Macron are expected to discuss several major agreements including those on the Indo-Pacific region, nuclear power, and defense, as the two countries mark the 25th year of their strategic partnership.

Earlier, Manmohan Singh was invited as the b Day parade guest in 2009.

Anjali Sharma conquered Mount Kilimanjaro in Africa, wearing Luanchari

Anjali Sharma of Kangra district of Himachal Pradesh has conquered Mount Kilimanjaro in Africa, wearing Luanchari.

She is working to promote Gaddi culture on the peaks of the mountains.

Lunachari is a traditional dress of Himachal Pradesh.

Mount Kilimanjaro (5,895 meters) is the tallest mountain in Africa and the world’s largest free-standing mountain.

It has three main volcanic peaks namely Kibo, Mawenzi, and Shira.

Former Indian Cricketer, Salim Durani passes away

Former India all-rounder Salim Durani passed away at the age of 88 in Jamnagar, Gujarat.

He played 29 Tests for India from 1960 to 1973, scoring 1,202 runs at an average of 25.04, with one century (104 against West Indies in 1962) and seven fifties.

He was a left-arm spinner and claimed 75 wickets at 35.42 apiece.

In first-class cricket, he played for Saurashtra, Gujarat, and Rajasthan.

He was born in Kabul (Afghanistan) in 1934 and was raised in Jamnagar.

India's forex reserves rise $5.98 billion to $578.78 billion

According to the Reserve Bank of India (RBI) data, India's foreign exchange reserves increased by $5.98 billion to $578.78 billion on March 24, 2023.

Data for the previous week showed that India's foreign exchange reserves rose to $572.8 billion, the highest level since early February 2023.

India's foreign currency assets (FCA) also increased from $4.38 billion to $509.72 billion.

India's gold reserves rose by $1.37 billion to $45.48 billion.

OPEC members announce cut in oil production

OPEC members including Saudi Arabia, the UAE, Iraq, Kuwait, and Algeria have announced voluntary oil production cuts exceeding one million barrels per day from May 2023 until the end of the year.

Reason: It is a precautionary measure aimed at supporting the stability of the oil market.

OPEC slashed its collective output by two million barrels per day last year.

OPEC is a group of 23 oil-producing countries.

Former CJ of Calcutta HC Thottathil B Radhakrishnan passes away

Former Chief Justice of the Calcutta High Court Thottathil B Radhakrishnan passed away in Kochi at the age of 63.

He also served as the Chief Justice of Telangana and Chattisgarh HC and was a  judge of the Kerala HC.

He was an expert in civil, constitutional, and administrative matters.

He also chaired the expert committee formed by the Kerala Forest Department to record details of houses and commercial establishments that surround wildlife sanctuaries.

RBI appoints Neeraj Nigam as executive director

The Reserve Bank of India has appointed Neeraj Nigam as executive director (ED) who will look after four departments, including consumer education and protection.

Before being promoted to ED, he was heading the Bhopal regional office of the RBI as director.

During his long career, he served in Regulation and Supervision, human resource management, premises, currency management, bank accounts, and other areas in the Reserve Bank.

Vice-Admiral Sanjay Jasjit Singh is new Vice-Chief of Navy

Vice Admiral, Sanjay Jasjit Singh assumed the charge of the vice chief of naval staff on April 2, 2023.

He succeeded Vice Admiral SN Ghormade who retired after over 39 years of service.

He is a graduate of the National Defence Academy, Pune, and was commissioned in 1986 in the executive branch of the Indian Navy.

In his career, he has served on most classes of ships of the Indian Navy and has held a range of command, training, and staff appointments.

Israel's former envoy to India Ron Malka appointed as Haifa Port Chairman

Adani Group has appointed the former envoy of Israel to India, Ron Malka as the Executive Chairman of the Haifa Port Company.

He served as the ambassador of Israel to India from 2018-2021.

It is the second-largest port in Israel in terms of shipping containers.

The Adani Group officially took over this port in January 2023.

Adani Ports and Special Economic Zone and Israel's Gadot Group won the tender in July 2022 to privatize the Port of Haifa for USD 1.18 billion.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023

The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.

Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress

It is presented annually on the occasion of Lokmanya Tilak's death anniversary.

Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh. 

J&K Bank wins award for Best Performance in CASA

Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.

The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.

The function was organized by the Indian Chamber of Commerce in Goa.

Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs

According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.

As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.

India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.

The labour force participation set to make India the second-largest economy in the world by 2075.

L&T and Spain's Navantia sign agreement for submarine project

L&T has signed a teaming agreement with Spanish-based Navantia for the submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine program.

P75 (India) Submarine Project is expected to be valued at €4.8 billion.

Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines.

The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy. 

India overtakes China as most attractive emerging market for investing

According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.

Reason: This is due to its solid demographics, political stability, and proactive regulation. 

Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

World Population Day 2023: 11 July

World Population Day is observed every year on July 11 in order to raise awareness about global population issues, including population control.

2023 theme: Unleashing the power of gender equality: Uplifting the voices of women and girls to unlock our world’s infinite possibilities. 

It was established by the United Nations Development Programme (UNDP) in 1989, after the day the world approximately reached a population of five billion, which was observed on 11 July 1987.

MoHUA conducts SBM-U 2.0 Planning & Implementation Review-cum-Workshop

The Housing Ministry organized a review-cum-workshop to evaluate and accelerate the planning and implementation of the SBM-Urban 2.0.

PM Modi launched the 2.0 versions of SBM-U and AMRUT on October 1, 2021.

SBM-U 2.0: Achieving 100% waste segregation in all households and premises and 100% door-to-door collection of segregated waste from each. 

AMRUT 2.0: To provide complete coverage of water supply to all households and sewerage and septage in 500 AMRUT cities. 

Gujarat CM launches pilot project of ‘Antyodaya Shramik Suraksha Yojana’

Gujarat CM Bhupendra Patel launched the Antyodaya Shram Suraksha Accident Insurance Scheme from Kheda

All those registered under the e-Shram portal from Nadiad will benefit from the scheme.

It is being implemented through the Indian Postal Department, the IPPB, and the Ministry of Labour and Employment.

Under this scheme, insurance with a premium of Rs. 289 and Rs. 499 per year will be a big support to workers in the event of death or partial disability.

OCA elects Sheikh Talal as the new President

Kuwait’s Sheikh Talal Fahad Al Ahmad Al Sabah has been elected as the new President of the Olympic Council of Asia (OCA).

He replaced his older brother Sheikh Ahmad Al-Fahad Al-Sabah, who led the OCA for 30 years until 2021.

The OCA was founded in 1982 by his father Fahad Al-Ahmed Al-Jaber Al-Sabah, who led it until 1990.

The Olympic Council of Asia (OCA) is a governing body of sports in Asia, currently with 45 member National Olympic Committees.

Bajaj Allianz Life Insurance wins Insurer Innovation Award 2023

Bajaj Allianz Life Insurance has won the Insurer Innovation Award 2023 for the APAC region at the 8th World Digital Insurance Awards, hosted by TDI - The Digital Insurer.

Recognition: Bajaj Allianz Life's ground-breaking WhatsApp Conversational Platform - empowering customers to digitally services their policies seamlessly. 

The award entries were shortlisted by industry experts and the winner was selected by the community through pre-voting and live event voting.