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Daily G.K. - Top Stories

26 Mar 2023


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Philip Green Named as Australia's Next High Commissioner in India

  • Philip Green, currently serving as Australia's ambassador in Berlin, was named as the next High Commissioner to India. The diplomat is posted in Germany since 2020.
  • Green was posted to Germany after missing out on his first preference, New Delhi, which was instead given to former New South Wales premier Barry O'Farrell.
  • Barry O'Farrell will remain as the ambassador till June to facilitate the smooth sailing of the Quad summit scheduled for the last week of May.
  • Before Berlin, Philip Green served as head of the Australian mission in Johannesburg, Nairobi and Singapore.
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Realme to Appoint New India Business Head from China

  • Global technology brand Realme is set to replace India business head Madhav Sheth with a top executive from its China-based headquarters. Sheth may quit the company once the official statement.
  • The move does not augur well for the company which cemented its position in a market which is highly-competitive at the mass level, with Sheth, as its India business lead, became the sole face of the company within a short span of time.
  • Sheth, being a veteran in the field, clearly has a command over the local market dynamics, something that the upcoming Chinese executive may not have in his kitty.

Indian Origin Anand Selva New Chief Operating Officer of Citigroup

  • Indian origin Anand Selvakesari, who is the Chief Executive – personal banking and wealth management -- at Citigroup, was given the additional charge of Chief Operating Officer (COO) of the United States headquartered bank.
  • Anand Selva will be taking over the role from Karen Peetz, who plans to retire in May.
  • Selva was heading the Citi's consumer banking business in India between 2011 and 2014. Before that he was heading the same business in China.

Canara Bank Sells Stake in Russian joint Venture to SBI

  • Canara Bank sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs. 121.29 crore.
  • CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent).
  • The Bengaluru-based state-owned bank entered into the agreement for sale on November 11, 2022.
  • The bank was established in 1906 at Mangalore by Ammembal Subba Rao Pai, the bank also has offices in London, Dubai and New York.
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Rahul Roy-Chowdhury to be Grammarly's Next CEO

  • Indian-origin Rahul Roy-Chowdhury will take over as the CEO of Grammarly, a communication assistance technology tool. Brad Hoover, the current CEO announced the change. He said that Rahul's product and technology background is a huge asset, as is his ability to help navigate the road ahead.
  • He previously worked for Google in various capacities, including vice-president of product management.
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IPL India's First Unicorn with a $1.1 Billion Valuation

  • D&P Advisory analyzed the Indian Premier League (IPL) and reported that the cricket tournament was India's first unicorn, with a valuation of $1.1 billion in 2008, the year it was launched. The advisory had previously announced that IPL had become a decacorn (valued at $10.9 billion). D&P Advisory is now preparing to publish a new analysis called "IPL: The Pioneer of Indian Unicorns."
  • The study considers the worth of the Indian Premier League (IPL) by factoring in the values of media rights, title sponsorship, and associate sponsorship from the years leading up to 2014.
  • Based on the analysis conducted by D&P, it was found that the broadcast rights alone generated a revenue of Rs 486 crore in 2008, while the title and associate sponsorship rights contributed Rs 36 crore and Rs 48 crore, respectively.
  • According to the report, the value of the IPL has consistently grown over the years due to the increasing fees for broadcast and sponsorships. In 2009, the league's value rose to $1.7 billion, and in 2010 it increased even further to $2.2 billion when it had 60 matches.
  • The league's value continued to rise in 2011 when the number of matches increased to 74, reaching a valuation of $2.7 billion.
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Union Agriculture Minister Launches 'DigiClaim' for Claim Disbursal

  • Union Minister of Agriculture Minister Narendra Singh Tomar launched the National Crop Insurance Portal's digitized claim settlement module 'DigiClaim' under the ambit of Pradhan Mantri Fasal Bima Yojana (PMFBY) at Krishi Bhawan in Delhi.
  • With the launch of the module, claims will be disbursed electronically, which will benefit the respective farmers of six states. Now, the automated claim settlement process will be an ongoing activity to ease all insured farmers' lives and provide them with a sustainable financial flow and support.
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Defence Ministry Signs Contract Worth Rs. 3700 crore with BEL

  • The defence ministry signed two contracts worth over Rs. 3,700 crore with Bharat Electronics Limited (BEL) for radars and receivers, which will enhance the operational capabilities of the Indian Air Force.
  • The first contract worth over Rs. 2,800 crore pertains to the supply of Medium Power Radars (MPR) 'Arudhra' for the IAF, and the second, at an overall cost of around Rs. 950 crore, relates to 129 DR-118 Radar Warning Receivers (RWR).
  • Both projects are under 'Buy Indian-IDMM (Indigenously Designed Developed and Manufactured)' category. The projects are aimed at enhancing surveillance, detection, tracking and electronic warfare capabilities of the air force.
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Purple Day of Epilepsy

  • Purple Day is a global event that is observed on March 26 to raise awareness about epilepsy and to eliminate common myths and fears related to this neurological disorder. The day also focuses on removing the social stigmas associated with the condition and encouraging people living with it to take action and spread awareness.
  • The concept of Purple Day was initiated by a nine-year-old Canadian named Cassidy Megan, and was motivated by her own struggle with epilepsy. The first Purple Day event was held on March 26, 2008, and is now known as the Purple Day for Epilepsy. The Epilepsy Association of Nova Scotia joined Cassidy and helped to spread awareness of Cassidy's initiative.
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Lok Sabha Passes Appropriation Bill

  • The Lok Sabha passed the Appropriation Bill 2023 through voice vote, before the House was adjourned for the day.
  • The Appropriation Bill entails expenditure worth around Rs. 144 lakh crore for 2023-24.
  • With the passage of the bill, the government has got the authority to withdraw the said amount from the Consolidated Fund of India for meeting the expenses for 2023-24.
  • As per norms, the Appropriation Bill was introduced in the Lok Sabha after discussions on budget proposals and voting on demand for grants.
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Three-day AI Art Fest in Bengaluru

  • A three-day festival spanning the physical and virtual worlds witnessed artworks, performances, gaming and installations created in collaboration between artists across India and the UK using Artificial Intelligence that convey the urgency of the climate emergency.
  • Future Fantastic, conceptualised by Jaaga's Be Fantastic of Bengaluru in collaboration with Future Everything of Manchester was hosted at the Bangalore International Centre from March 24 to 26.
  • It was part of the India/UK Together, Season of Culture that brings together artists from the two countries to address shared global challenges such as climate change, environment sustainability, equality and gender among others.
  • The audience got a chance to interact with innovative, AI-powered interactive artworks, as well as to investigate the role of art and technology through panel discussions and workshops led by experts in technology, arts, and climate action, the organisers said.
  • The focus of the festival was to find potential creative solutions to the climate crisis by asking questions of how AI Art can create a personal and emotional connection to the impacts of climate change and how it can help in envisioning a climate-positive future.

First Urban Climate Film Festival under U20 Engagement Events

  • The National Institute of Urban Affairs (NIUA) organised the first Urban Climate Film Festival through the CITIIS program under U20 engagement events. The festival was organised with support from the Ministry of Housing & Urban Affairs, Government of India, the French Development Agency (AFD), and the European Union. A curated selection of 11 films from 9 countries were showcased to create wider awareness of the impact of climate change on life in cities and engage the public in the dialogue on sustainable urban development.
  • The Urban Climate Film Festival was held from March 24 to 26, 2023 at the M.L. Bhartia Auditorium, Alliance Française, Lodhi Estate, New Delhi.
  • The inaugural session was be chaired by Amitabh Kant, G20 Sherpa.
  • The Ambassadors of France and the European Union to India delivered the inaugural addresses.
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