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Daily G.K. - Top Stories

30 Mar 2023

DAILY G.K. TEST

Start Test

INTERNATIONAL AFFAIRS

Sergio Ermotti Returns as UBS CEO

  • UBS Group AG (UBSG.S) rehired Sergio Ermotti as CEO to steer its massive takeover of neighbour Credit Suisse (CSGN.S) - a surprise move to take advantage of the Swiss banker's experience rebuilding the bank after the global financial crisis.
  • The trader turned corporate problem fixer faces the tough challenge of laying off thousands of staff, cutting back Credit Suisse's investment bank and reassuring the world's wealthy that UBS remains a safe harbour for their cash.
  • Ermotti, who was chief executive of UBS from 2011 to 2020 and is now chairman of Swiss Re (SRENH.S), will take the helm from April 5. He is credited with executing UBS's turnaround after a series of scandals and losses nearly caused the bank's implosion.

Saudi Arabia Joind Shanghai Cooperation Organization

  • Saudi Arabia's cabinet approved a decision to join the Shanghai Cooperation Organization, as Riyadh builds a long-term partnership with China despite U.S. security concerns.
  • The SCO is governed by the Heads of State Council (HSC), its supreme decision-making body, which meets once a year.
  • Russian and Chinese are the official working languages of the SCO.
  • The SCO currently comprises of eight Member States (China, India, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and Uzbekistan
  • Iran signed documents for full membership in 2022.
  • Saudi Arabia approved a memorandum on granting the kingdom the status of a dialogue partner in the Shanghai Cooperation Organization (SCO).
  • The SCO is a political and security union of countries spanning much of Eurasia, including China, India and Russia.
  • Formed in 2001 by Russia, China and former Soviet states in Central Asia, the body has been expanded to include India and Pakistan, with a view to playing a bigger role as counterweight to Western influence in the region.

Indian-origin Sikh Woman Becomes Connecticut's First Asian Assistant Police Chief

  • Lt. Manmeet Colon, who is of Indian origin and a Sikh woman officer, took up the position of assistant police chief in the state of Connecticut, becoming the first-ever person of Asian descent to hold the position. She has been a member of the New Haven Police Department (NHPD) for 15 years and was appointed as the city's third assistant police chief in an official ceremony.
  • The ceremony marked "another glass ceiling being broken," Board of Police Commissioners Chair Evelise Ribeiro said, noting that Colon, a native of Mumbai, is the department's second-ever female assistant chief of colour and its first Indian assistant chief.
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ENVIRONMENT

Namibian Cheetah Siyaya Gives Birth to Four Cubs

  • Marking a historic moment for India's cheetah reintroduction project, one of the translocated Namibian cheetahs, Siyaya, gave birth to four cubs at Madhya Pradesh's Kuno National Park. These are the first cheetah cubs born in India in over 70 years as cheetahs had gone extinct in the country in 1952.
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BUSINESS AND ECONOMY

Pranav Haridasan Named New MD and CEO of Axis Securities

  • Pranav Haridasan was appointed as the new Managing Director and Chief Executive Officer of Axis Securities for the next three years. B. Gopkumar, who is currently the MD & CEO of Axis Securities, was transferred to Axis Asset Management Company as MD & CEO. Pranav Haridasan has over 20 years of experience in financial markets, having worked with Citigroup Global Markets as Director and Head of India/ ASEAN Execution Services before joining Axis Capital.

NPCI Recommends PPI Charges for UPI Payments

  • Starting April 1, merchant transactions exceeding Rs. 2,000 in value done using Prepaid Payment Instruments (PPI Wallets) on UPI will attract an interchange charge of 1.1%. However, "the new interchange charges are only applicable for the PPI merchant transactions and there is no charge to customers," the National Payments Corporation of India (NPCI), which governs UPI
  • It is further clarified that there are no charges for the bank account to bank account based UPI payments (i.e. normal UPI payments).
  • The Interchange fee is generally associated with card payments to cover transaction cost.
  • In the statement, NCPI said that as per regulatory guidelines, the PPI Wallets had been permitted to be part of the interoperable UPI ecosystem.

Prodapt Appoints Harsha Kumar as CEO

  • Prodapt, the largest and fastest-growing specialized player in the Connectedness industry, announced the elevation of Harsha Kumar to Chief Executive Officer (CEO). Harsha took over from Founder and CEO Vedant Jhaver, who will serve as the Chairman of Prodapt.
  • As President over the last seven years, Harsha has played important roles in helping define growth strategies, delivering strong results through deep customer relationships, scaling practice areas, developing leadership talent, and building a strong operations organization for future growth.
  • Before joining Prodapt, Harsha held several leadership positions in the technology services industry, and has successfully incubated and scaled several businesses that have grown to become large divisions.
  • Prodapt provides technology services and consulting to clients across every layer of the Connectedness vertical, including the largest communications, media, and technology firms around the world.
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SCIENCE & TECHNOLOGY

NASA to Send 4 Humans to Live on Mars

  • The National Aeronautics and Space Administration (NASA) is preparing four individuals to live on Mars in June 2023. The four "Martians" will be a part of NASA's human exploration trip on Mars, even though the American space agency has long sought to send humans to the neighbouring planet. Also, NASA has sent satellites, the InSight lander, a rover mission with the Perseverance rover, the Ingenuity small robotic helicopter, and related delivery systems, all of which are intended to provide the Red Planet with its first comprehensive examination. The four volunteers are a part of a 12-month project to get people ready for visiting Mars. When humans eventually land on Mars, they will do so in a habitat that replicates the circumstances there.
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SPORTS

BCCI Signs Herbalife as its Official Partner for 2023 IPL Edition

  • Premier global nutrition company, Herbalife partnered with the Board of Control for Cricket in India (BCCI) to become one of the official partners of the TATA Indian Premier League (IPL) for the season 2023.
  • The partnership between IPL and Herbalife unites two powerful brands with a shared passion for sports. Cricket fans in India and around the world adore the IPL, and Herbalife has a proven record of helping athletes optimize their performance through high-quality, science-backed food products for everyone.

FIFA Strip Indonesia's Right of Hosting Under-20 World Cup by FIFA

  • FIFA stripped Indonesia's right to stage this year's (2023) Under-20 men's World Cup, over what an Indonesian official said was a failure to honour its commitments to the tournament.
  • The decision to stop Indonesia staging the May 20-June 11, 2023 tournament was taken after the country's football federation (PSSI) said that it had cancelled the draw because the governor of the largely Hindu island of Bali refused to host Israel's team.
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NATIONAL AFFAIRS

Giriraj Singh Launches 'Captive Employment' Initiative

  • Union Minister for Rural Development Giriraj Singh onboarded 19 captive employers as part of the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) in New Delhi.
  • The objective is to provide them with the target of training and providing gainful employment to 31,067 rural poor youths under the Deen Dayal Upadhyaya Grameen Kaushalya Yojana (DDU-GKY) with a minimum salary of 10,000 per month for a minimum period of six months.

Karnataka Assembly Elections to be Held in May

  • The Election Commission (EC) announced the Assembly election dates for Karnataka. The elections will be held on May 10 and the results will be declared on May 13.
  • Chief Election Commissioner Rajiv Kumar said that the notification for the elections to the 224-member assembly will be issued on April 13 and the last date for filing nomination papers will be April 20.
  • The nomination papers will be scrutinised on April 21 and the last date for withdrawal of nominations will be April 24.

AFSPA to be Extended in 8 Assam Districts

  • The Assam government will extend the 'disturbed area' tag under the Armed Forces Special Powers Act (AFSPA) for another six months in eight districts of the state from April 1.
  • It will be extended for Tinsukia, Dibrugarh, Charaideo, Sivasagar, Jorhat, Golaghat, Karbi Anglong and Dima Hasao, according to a notification issued by the state home and political department.
  • The Centre had earlier announced removal of AFSPA from April 1, 2022 from the entire state of Assam barring nine districts and a sub-division of Cachar district.
  • The state was declared a 'disturbed area' under AFSPA during the intervening night of November 27-28, 1990, and this has been extended every six months since then.
  • Armed Forces (Special Powers) Act (AFSPA), 1958 is an act of the Parliament of India that grants special powers to the Indian Armed Forces to maintain public order in "disturbed areas".
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DEFENCE

MoD Signs Three Contracts, Including Satellite for Army

  • The Ministry of Defence (MoD) signed three contracts worth Rs. 5,400 crore — two with Bharat Electronics Limited (BEL) worth Rs. 2,400 crore for procurement of Automated Air Defence Control and Reporting System 'Project Akashteer' for the Army and Sarang Electronic Support Measure (ESM) systems for the Navy. Another Rs. 2,963 crore contract with NewSpace India Limited (NSIL), a Central Public Sector Enterprise under the Department of Space, for an advanced communication satellite, GSAT 7B, for the Army.
  • Unlike the Indian Air Force and the Navy, the Army currently does not have a dedicated satellite.
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PERSONS IN NEWS

Ranveer Singh New as Brand Ambassador of Star Sports

  • The Walt Disney Company India-owned channel Star Sports signed Bollywood actor Ranveer Singh as its brand ambassador.
  • This association makes the first actor to be associated with Star Sports, a development that reflects the growing synergy between sports and entertainment in India. Singh, in his role as 'sutradhaar' for the upcoming season of the Indian Premier League (IPL) will be involved in creating a stream of content which will bring alive narratives from the past, present, and future of the league.
  • Singh's collaboration with Star Sports is a significant move for the brand. It aims to leverage Singh's popularity and his love for sports to connect with diverse audiences which haven't yet formed a deep relationship with sports.
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DAYS AND EVENTS

World Bipolar Day

  • World Bipolar Day is observed each year on March 30, the birthday of Vincent Van Gogh, a renowned artist, who was diagnosed with bipolar after he died. The vision of World Bipolar Day is to encourage understanding about what bipolar is – and isn't – and to banish stigma from the face of the planet.
  • Initiated by the International Society for Bipolar Disorders (ISBD) in partnership with the International Bipolar Foundation (IBPF) and the Asian Network of Bipolar Disorders (ANBD) in 1999, Word Bipolar Day was created with a vision to bring world awareness to this disease, educate the public on this disorder and eliminate social stigma around this condition.
  • The theme for World Bipolar Day 2023 was 'BipolarTogether'.

International Day of Zero Waste

  • International Day of Zero Waste aims to promote sustainable consumption and production patterns, support the societal shift towards circularity, and raise awareness about how zero-waste initiatives contribute to the advancement of the 2030 Agenda for Sustainable Development.
  • On December 14, 2022, the UN General Assembly (UNGA) adopted a resolution proclaiming March 30 as International Day of Zero Waste, to be observed annually starting in 2023. The UN Environment Programme (UNEP) and the UN Human Settlements Programme (UN-Habitat) jointly facilitated the observance of International Day of Zero Waste.
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AWARDS AND HONOURS

Naveen Jindal Honoured with 'Lifetime Achievement Award' by University of Texas

  • Naveen Jindal was awarded a lifetime achievement award by the University of Texas at Dallas for his accomplishments in industry, politics, and education. Jindal had graduated from the University in 1992. This award is the highest recognition given to an alumnus by the University of Texas, Dallas and is presented to those whose contributions have positively impacted society. Aziz Sancar, a Nobel Laureate, was the first person to receive the Lifetime Achievement Award from the University of Texas at Dallas.
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GOVERNMENT POLICIES AND SCHEMES

Lok Sabha Passes Competition Amendment Bill 2022

  • The Lok Sabha passed the Competition Amendment Bill 2022 without discussion amid vociferous protests by Congress-led opposition.
  • The bill proposes to expand the scope of cartel prosecution by bringing hybrid anti-competitive agreements (such as hub and spoke cartels) within its ambit to enable the Competition Commission of India to treat cartel facilitators (who actively participated) at par with the cartel participants.
  • It also proposes to further expand the scope of cartel prosecution to include non-participants who had 'intended to participate' in the cartel.
  • Another bill, the Biological Diversity Amendment Bill 2022 was referred to a joint committee of Parliament.
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GENDER/ HEALTH/ EDUCATION

IIT-M to Develop Tech to Up-cycle Paddy Waste for Making Supercapacitors

  • Researchers at the Indian Institute of Technology Madras (IIT Madras) are working on eco-friendly technology to up-cycle paddy waste to manufacture raw materials for industrial applications.
  • The technology will provide an additional source of income to farmers as paddy waste can be used to produce energy devices that can be used by the industry. This approach can make a key contribution to reducing stubble burning and burning of other farm waste in North India.
  • The researchers are fostering a new 'farm-energy synergy' through their work with organic waste, particularly kitchen waste, to develop usable activated carbon, a key component in making supercapacitors. Supercapacitors made from activated carbon produced from paddy waste, offer many benefits to consumers across the electronics, energy, and agricultural sectors and can help develop self-reliance in the supercapacitors field.
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BOOKS AND AUTHORS

Book Titled 'Basu Chatterji: And Middle-of-the-Road Cinema' Released

  • A new book titled 'Basu Chatterji: And Middle-of-the-Road Cinema' was released, which chronicles the life and times of the veteran Indian filmmaker Basu Chatterjee. The book is written by Anirudha Bhattacharjee, an award-winning author, and published by Penguin Random House India (PRHI). The book takes readers behind the scenes of some of Chatterjee's most memorable films, such as 'Chitchor', 'Sara Aakash', 'Khatta Meetha' and 'Baton Baton Mein'. It provides insights into Chatterjee's filmmaking style and the cultural and social context in which his films were made.
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