Latest Current Affairs For Thursday 27th April, 2023

Australia to host Quad leadership summit in Sydney

Australia will host the third in-person Quad Summit in Sydney on May 24, 2023.

It will be the first time when Australia will host the meeting.

The meeting will be attended by PM Narendra Modi, US President Joe Biden, Japanese PM Kishida Fumio, and Australian PM Anthony Albanese.

The leaders will discuss issues on critical and emerging technologies and high-quality infrastructure, etc.

The Quadrilateral Security Dialogue comprises India, the US, Japan, and Australia.

SBI fourth startup branch opens in Mumbai BKC

The State Bank of India (SBI) has opened an exclusive branch for startups at the Bandra Kurla Complex in Mumbai.

This is the fourth startup-focused branch, after Bengaluru, Chennai, and Gurugram.

In Mumbai, the bank has entered into multiple MoU with the Society for Innovation & Entrepreneurship at IIT-Bombay, Centre for Incubation and Business Acceleration, and S.P Jain Institute of Management & Research. 

Aim of MoU: To boost the startup ecosystem in the region. 

Y-20 Pre-Summit Meeting under G20 held in Leh

The Y 20 Pre Summit Meeting under G20 hosted by the Ministry of Youth and Sports Affairs is being organized from 26th to 28th April 2023 in Leh.

Five Y20 themes:

Shared Future: Youth in Democracy and Governance. 

Future of Work: Industry 4.0, Innovation & 21st Century Skills. 

Climate Change and Disaster Risk Reduction: Making Sustainability a Way of Life. 

Peace Building and Reconciliation: Ushering in an era of No War. 

Health Wellbeing & Sports: Agenda for Youth. 

Former Punjab CM Parkash Singh Badal passes away

Former CM of Punjab and senior leader of Shiromani Akali Dal, Parkash Singh Badal passed away at 95 in Mohali, Punjab.

He became the CM of Punjab for the first time in 1970.

Later, he became the Chief minister four times, from 1977 to 1980, 1997 to 2002, 2007 to 2012, and from 2012 to 2017.

He briefly joined Morarji Desai's government as the Agriculture minister at the Centre in 1977.

He was awarded the second-highest civilian award, Padma Vibhushan in 2015.

India to host SCO Defence Ministers’ Meeting on April 28

The Chair of the Shanghai Cooperation Organisation (SCO), India will host the SCO Defence Ministers’ Meeting on 28 April 2023 in New Delhi.

Aim: To discuss amongst other issues matters concerning regional peace and security, counter-terrorism efforts within SCO, and effective multilateralism.

SCO 2023 theme under India’s Chairmanship: SECURE-SCO

SCO was established in 2001.

Members: Kazakhstan, China, Kyrgyzstan, Pakistan, Russia, Tajikistan, India, and Uzbekistan. 

PM Modi to attend 20th anniversary of SWAGAT initiative in Gujarat

PM Modi will attend the 20th anniversary of the State Wide Attention on Grievances by Application of Technology (SWAGAT) initiative in Gujarat via video conferencing on April 27.

This scheme was started by PM Modi in April 2003 during his tenure as the Chief Minister of Gujarat.

Aim: To act as a bridge between the citizens and the government using technology by solving their day-to-day grievances in a quick, efficient, and time-bound manner. 

DRDO organizes Conference on Optimising Human Capital of Armed Forces

The Defence Institute of Psychological Research (DIPR), a Delhi-based laboratory DRDO, has organized a four-day International Conference on ‘Optimising Human Capital of Armed Forces: Psychological Perspective’ in Delhi on April 25, 2023.

Aim: To deliberate recent advances, emerging trends, and challenges of psychology with respect to the human capital of the Armed Forces upon world over. 

The conference has participation from the three Services, DRDO labs, and academia.

RBI cancels Adoor Co-operative Urban Bank’s banking licence

The Reserve Bank of India (RBI) has canceled the banking license of Kerala-based Adoor Co-operative Urban Bank, with effect from the close of business on April 24, 2023.

RBI has allowed Adoor Co-operative Urban Bank to function as a non-banking institution.

RBI has also stopped to conduct the banking business, including acceptance of deposits from non-members with immediate effect.

The bank shall ensure to repay unpaid and unclaimed deposits of non-members held by it.

Shreekant Bhandiwad appointed as Chairman of Karnataka Vikas Grameena Bank

Shreekant M Bhandiwad has taken charge as the new chairman of Karnataka Vikas Grameena Bank (KVGB).

KVGB is an Indian RRB sponsored by Canara Bank headquartered in Dharwad, Karnataka.

He has replaced the current chairman P Gopikrishna, who was repatriated to Canara Bank as Circle Head, Bengaluru, in Karnataka.

He has an experience of 29 years in Canara Bank, having worked across India (Haryana, Rajasthan, Bihar, and Karnataka) in various capacities.

Neobank Jupiter secures NBFC licence

Neobanking platform Jupiter has received a non-banking financial company (NBFC) license from the Reserve Bank of India to enter into the lending business.

The startup, Jupiter will be offering the loan under Amica Financial Technologies.

Jitendra Gupta (founder of Jupiter) has informed that there will be an equity infusion of Rs 100 crore from Jupiter to develop the NBFC product.

The startup will be looking to raise a loan from banks for an additional Rs 100 crore.

PGCIL wins Global Gold Award for CSR work

Power Grid Corporation of India Ltd (PGCIL), a Maharatna CPSU of the Ministry of Power, has been awarded the Global Gold Award 2023 by The Green Organization.

Reason: For improving Agriculture Productivity and Rural Livelihood through watershed management, community participation, and better crop management practices in 10 villages of Jaipatna Block of Kalahandi, Odisha. 

The Director (Personnel) of POWERGRID, Dr. V. K. Singh received the award.

Uttar Pradesh received HUDCO award for cleanliness drive

The Swachh Bharat Mission (Urban) Uttar Pradesh has been awarded the country’s prestigious HUDCO Award for 2022-2023.

It was awarded in the Best Practices to Improve the Living Environment 2022-23 category for cleanliness.

The award was presented by the secretary of MoHUA, Manoj Josh to Neha Sharma (State mission director, UP).

Cash Prize: 1 Lakh Rupees

This campaign was organized by the Swachh Bharat Mission (Urban) Uttar Pradesh from January 14 to 24, 2023.

Microsoft India head, Anant Maheshwari appointed as chairperson of Nasscom

Microsoft India President, Anant Maheshwari has been appointed as the chairperson of Nasscom for 2023-24.

Earlier, he served as the vice-chairperson of Nasscom'.

He has succeeded the president of business and technology services at TCS, Krishnan Ramanujam.

Meanwhile, Nasscom has also appointed chairman and managing director of Cognizant India, Rajesh Nambiar as its vice-chairperson for 2023-24. 

Nasscom refers to National Association of Software and Service Companies. 

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.