Latest Current Affairs For Tuesday 4th July, 2023

ICG, Indian Navy, and Indian Port Rail & Ropeway Corporation signed MoU

Indian Coast Guard and Indian Navy signed an MoU with Indian Port Rail & Ropeway Corporation Ltd for the planning, development, construction, and commissioning of a gallery on the theme “Evolution of Indian Navy & Indian Coast Guard”.

The Government of India is building the National Maritime Heritage Complex (NMHC) at the historic Indus Valley civilization region of Lothal (Gujarat) under the aegis of the Ministry of Ports, Shipping, and Waterways. 

Indian wins Gold and Bronze medals at the Asian Squash Mixed Doubles 2023

India's squash players, Dipika Pallikal Karthik and Harinderpal Singh Sandhu, showcased their excellence by clinching the gold medal at the Asian Squash Mixed Doubles Championships in Huangzhou.

India's campaign at the championship saw another shining moment as Anahat Singh and Abhay Singh partnered together to claim a bronze medal.

They faced a tough semifinal battle against Malaysia's Ivan Yuen and Rachel Arnold.

Alan Arkin, Oscar-winning 'Little Miss Sunshine' actor, dies

Alan Arkin, the wry character actor who demonstrated his versatility in comedy and drama as he received four Academy Award nominations and won an Oscar in 2007 for "Little Miss Sunshine," has died.

In recent years he starred opposite Michael Douglas in the Netflix comedy series "The Kominsky Method," a role that earned him two Emmy nominations.

He also directed the film version of Jules Feiffer's 1971 dark comedy "Little Murders".

India's External Debt reaches $624.7 billion in End-March 2023

India's external debt has increased marginally to $624.7 billion annually in end-March 2023, although the debt-GDP ratio declined. 

The external debt increased by $5.6 billion from $619.1 billion at end-March 2022.

Valuation gains due to the appreciation of the US dollar compared to the Indian rupee and major currencies were placed at $20.6 billion.

Excluding the valuation effect, external debt would have increased by $26.2 billion instead of $5.6 billion in March 2023.

Nine Nano Urea plants to be set up across the country by 2025

Chemical Minister Dr. Mansukh Mandaviya has said that the country is aiming to manufacture 44 crore bottles of Nano Urea annually by the year 2025.

He highlighted the merits of Nano Urea saying that the urea absorption rate by crops is 80% in the case of Nano Urea whereas the traditional urea absorption rate is only 30%.

Nano Urea is cost-effective and demonstrated an increase in crop yield.

America and several other countries have evinced interest in Nano Urea.

HM approves release of ₹6,194 crore disaster relief fund to 19 States

Union Home Minister Amit Shah approved the release of Rs 6,194.40 crore to 19 states under the State Disaster Response Fund (SDRF).

The amount includes Rs 1,209.60 crore as a central share of the SDRF to four states (Chhattisgarh, Meghalaya, Telangana, and Uttar Pradesh) for 2022-23.

Rs 4,984.80 crore will also be given to 15 states (Andhra Pradesh, AP Assam, Bihar, Goa, Haryana, HP, Kerala, Maharashtra, Manipur, Meghalaya, Odisha, Punjab, TN, and Tripura). 

International Plastic Bag Free Day 2023: 3rd June

International Plastic Bag Free Day is observed annually on July 3 to raise awareness about the harmful impacts of single-use plastic bags on the environment.

The initiative was started by the Bag Free World campaign, a global movement.

Aim: To reduce the use of single-use plastic bags that inspired other parts of the world to participate in Plastic Bag Free Day. 

There is no specific theme for International Plastic Bag Free Day 2023.

SBI gives ₹22 crore to IIT-Bombay for data analytics, AI capabilities

The State Bank of India (SBI), through its CSR arm SBI Foundation, has pledged a grant of ₹22.5 crore to the Indian Institute of Technology, Bombay (IIT-B).

Reason: To establish a Banking Data and Analytics Hub at IIT-B

The focus of the Hub will be to address the unique challenges faced by the Indian banking and financial services sector.

The collaboration aims to leverage SBI's extensive experience in banking and IIT Bombay's research expertise.

Max Verstappen wins Austrian GP 2023

Red Bull's driver Max Verstappen has clinched the Austrian Grand Prix 2023, held at the Red Bull Ring, Spielberg in Austria.

Ferrari driver, Charles Leclerc has ranked second, while Red Bull's Sergio Pérez placed third in the Austrian Grand Prix 2023.

Previous GP 2023 winners:

Canadian GP: M. Verstappen (Red Bull)

Spanish GP: M. Verstappen (Red Bull)

Monaco GP: M. Verstappen (Red Bull)

Miami GP: M. Verstappen

Azerbaijan GP: S. Pérez (Red Bull). 

HM Amit Shah inaugurates ‘Akshar River Cruise’ on Sabarmati Riverfront

Union Minister for Home and Cooperation Amit Shah has virtually launched the ‘Akshar River Cruise’ on Sabarmati Riverfront.

This cruise was developed by the Ahmedabad Municipal Corporation (AMC) and Sabarmati Riverfront Development Corporation Limited.

It is the first passenger catamaran built in the country under Make in India at a cost of Rs 15 crore with twin engines where 165 passengers can travel safely for one-and-a-half hours. 

Impact: It will boost Gujarat’s tourism

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.