Latest Current Affairs For Thursday 4th May, 2023

Indian job market to witness 22% churn In 5 Years: WEF

According to the WEF's latest Future of Jobs report, the Indian job market is estimated to witness 22% churn over the next five years, with top emerging roles coming from AI, machine learning, and data segments.

Globally, the job market churn is estimated at 23%, with 69 million new jobs expected to be created and 83 million eliminated by 2027.

Almost a quarter of jobs are expected to change in the next five years through a growth of 10.2% and a decline of 12.3%. 

British actress-author Meera Sayal receives BAFTA Fellowship

UK-based Indian-origin actor-writer Meera Syal has been conferred a BAFTA Fellowship, the highest accolade bestowed by the British Academy of Film and Television Arts (BAFTA).

Recognition: For an outstanding and exceptional contribution to film/television. 

She was honored with an MBE and then a CBE by the late Queen Elizabeth II for her contribution to drama and literature.

She is best known for television shows such as 'Goodness Gracious Me' and 'The Kumars at No. 42'.

Asia-Pacific to grow 4.6% in 2023: IMF

According to the IMF report, the growth of the Asia-Pacific region is expected to increase to 4.6% in 2023 from 3.8% in 2022.

The two largest emerging market economies (India & China) of the region are expected to contribute around half of global growth in 2023.

2023 will be challenging for the global economy, with global growth decelerating as the effects of monetary policy tightening and Russia's war in Ukraine continue to weigh on economic activity.

IFSCA inks MoU with IHub-Data, IIIT Hyderabad

International Financial Services Centres Authority (IFSCA) and IHub-Data, IIIT Hyderabad signed an MoU at the IIIT Hyderabad campus.

Aim: For cooperation and understanding between IFSCA and IHub-Data to collaborate in supporting and facilitating FinTech and TechFin entities. 

IFSCA is responsible for the development and regulation of international financial services.

IFSCA aims to develop a strong global connection and focus on the needs of the Indian economy.

Manipur CM launches facial recognition system for Inner Line Permits

Manipur CM N Biren Singh launched the Facial Recognition System (FRS) for Inner Line Permit (ILP) system and flagged off two camera-mounted mobile FRS vehicles.

It will help in the effective checking of ILP holders whose validity has expired and in better management of the system.

The system has been implemented on a trial basis.

In addition, two mobile vehicles will be stationed at different locations in Imphal East and West districts to identify ILP defaulters. 

India slips in World Press Freedom Index, ranks 161 out of 180 countries

According to the latest report released by global media watchdog Reporters Without Borders, India’s ranking in the 2023 World Press Freedom Index has slipped to 161 out of 180 countries.

In 2022, India was ranked at 150.

Norway is ranked first for the seventh consecutive year, followed by  Ireland, Denmark, Sweden, and Finland. 

Last three: North Korea (180th), China, and Vietnam

It is based on five indicators-Political, Economic, Legal Framework, Sociocultural, and Safety. 

Airtel Payments Bank rolls out face authentication for AePS

Airtel Payments Bank has collaborated with the National Payments Corporation of India to roll out Face Authentication for Aadhaar-enabled Payment System (AePS).

AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number/ virtual ID to access their Aadhaar-linked bank account.

This facility will enable customers to validate the transaction by undertaking face authentication along with the Aadhaar number.

World Press Freedom Day 2023: 3rd May

World Press Freedom Day is observed annually on May 3 to raise awareness about the importance of freedom of the press.

This year marks the 30th anniversary of World Press Freedom Day.

Theme 2023: Shaping a Future of Rights: Freedom of Expression as a Driver for all other human rights. 

This day was first proclaimed by UNESCO in 1991 in response to the increasing number of attacks on journalists around the world.

In 1993, UNGA declared May 3 as World Press Freedom Day.

India's unemployment rate at a four-month high in April 2023

According to the Centre for Monitoring Indian Economy (CMIE), the unemployment rate of India has surged to a four-month high of 8.11% in April, compared to 7.14% in March 2023.

The rise in the unemployment rate came on the back of higher labor participation, which has risen to 41.9% from 39.7% in March.

Rural India: 20.3 million people entered the workforce and 95% of them got jobs. 

Urban India: 5.2 million people entered the workforce, but only half of them got jobs. 

Bharti Airtel to merge Sri Lanka operations with Dialog Axiata

Sri Lanka’s mobile telecommunication firm, Dialog Axiata, and India’s Bharti Airtel have signed a binding term sheet for the merger of their Sri Lankan subsidiaries.

With this merger, Bharti Airtel will get access to a large customer base in Sri Lanka.

Bharti Airtel started its operations in 2009 in Sri Lanka and has a customer base of 1 million in the country.

Dialog Axiata is a subsidiary of Malaysian Axiata.

Dialog accounts for 57% of the mobile market in Sri Lanka.

World Bank to provide 2.25 billion dollars to Bangladesh

The World Bank will provide financial aid of 2.25 billion dollars to Bangladesh for five projects. 

Accelerating transport and trade connectivity in Eastern South Asia worth $753.45 million. 

USD 500 million for Resilient Infrastructure Building Project. 

USD 500 million First Bangladesh Green and Climate Resilient Development. 

USD 250 million Sustainable Microenterprise and Resilient Transformation. 

USD 250 million Bangladesh Environmental Sustainability and Transformation. 

India surpasses Australia to become No.1 Test team in the ICC rankings

Indian Men's team has surpassed Australia to become the number one Test team in the latest rankings released by ICC on May 2, 2023.

Currently, India has topped the ranking with 121 points, while Australia ranked second with 116 points.

Earlier this year, India posted a 2-1 series win against Australia to retain the Border-Gavaskar trophy for the fourth consecutive time.

England, South Africa, and New Zealand placed third, fourth, and fifth spots respectively.

Govt appoints Justice TS Sivagnanam as Chief Justice of Calcutta High Court

The government of India has cleared the appointment of Justice T. S. Sivagnanam (Senior Most judge of the Calcutta HC) as the Chief Justice of the High Court.

Presently, he is serving as the Acting Chief Justice of the Calcutta High Court.

On 25 October 2021, he took oath as a Judge of Calcutta High Court.

He was appointed as an Additional Judge of Madras High Court and later he was appointed Permanent Judge on 29 March 2011.

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.