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Daily G.K. - Top Stories

25 Jun 2023

DAILY G.K. TEST

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INTERNATIONAL AFFAIRS

OceanGate's Titan submersible Imploded

  • A four-day-long search for OceanGate's Titan submersible came to a tragic end. The US Coastal Guard confirmed that all five passengers onboard Titan died as the vessel was subject to catastrophic implosion at some point during its voyage towards the Titanic shipwreck. The debris of the submersible was found on the sea floor, around 500 metres away from the bow of the Titanic.
  • The Titan submersible, which is different from a submarine was designed by OceanGate. The submersible was designed to carry five people into a depth of 13,120 feet. The submersible had a life-support system that can keep five people alive for up to 96 hours.

UK Net Debt Passes 100% of GDP for First Time Since 1961

  • The United Kingdom's public sector net debt surpassed 100% of its GDP in May 2023, a level not seen since 1961, according to the Office for National Statistics (ONS). The rising debt, excluding state-controlled banks, reached £2.567 trillion ($3.28 trillion), representing 100.1% of GDP. Government borrowing in May, though slightly lower than in April, exceeded expectations and remained at a high level, while inflation remained steady, defying predictions of a decline.
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BUSINESS AND ECONOMY

Egypt to Offer Exclusive Industrial Cluster to India in Suez Canal EZ

  • Egypt is ready to provide India with an exclusive cluster in the industrial and logistics hub, which could act as a portal for New Delhi to reach other markets more effectively, the chairman of the Suez Canal Economic Zone (SCZONE) stated.
  • Waleid Gamal Eldien's remarks about the SCZONE came before Prime Minister Narendra Modi's two-day official visit to Egypt.
  • During Egyptian President Abdel Fattah Al-Sisi's New Delhi visit in January 2023, India was offered full support to build a formidable industrial presence in the SCZONE. Egypt offers unique opportunities to Indian investors to reach out to markets such as Africa, Europe, West Asia, and Latin America.

IOB Inks MoU with the Tamil Nadu State Rural Livelihood Mission

  • Indian Overseas Bank (IOB) signed a Memorandum of Understanding (MoU) with the Tamil Nadu State Rural Livelihood Mission (TNSRLM) to foster the growth of Self Help Groups (SHGs) in the State and provide them with vital financial support.
  • Under the terms of the MoU, TNSRLM will facilitate eligible SHGs for credit linkage with IOB. This strategic collaboration aims to streamline access to financial resources for SHGs, enabling them to undertake entrepreneurial activities, expand their ventures, and contribute to the economic development of the state.
  • The collaboration is expected to catalyse the growth of SHGs targeting Rs. 1,875 crore and increase the disbursal under DAY-NRLM (Deendayal Antyodaya Yojana-National Rural Livelihoods Mission) during this fiscal.
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SPORTS

BCCI Announces Shyama Shaw as Selector for Women's Selection Committee

  • The Cricket Advisory Committee (CAC) unanimously recommended Shyama Shaw as a selector in the Women's Selection Committee and V. S. Thilak Naidu as a selector for Junior Cricket Committee.
  • The CAC, comprising Sulakshana Naik, Ashok Malhotra, and Jatin Paranjape, made the announcement.
  • Shaw, a left-handed batter and medium-pace bowler represented India in three Tests and five ODIs. She represented Bengal in domestic cricket from 1985 to 1997, and then Railways from 1998 to 2002. Following her playing career, she served as a Bengal selector for two terms.
  • Naidu, a former wicket-keeper and batter, represented Karnataka from 1998-99 to 2009-10. With his aggressive batting style, he scored 4,386 runs in 93 first-class games. From 2013 to 2016, he chaired the KSCA Junior Selection Committee and served on the KSCA's Senior Selection Committee during 2015-16.

India Cross 50-medal Mark at Special Olympics

  • India continued its medal rush at the Special Olympics World Summer Games, Germany crossing the 50-medal mark. India won 55 medals, including 15 gold, 27 silver, 13 bronze, in athletics, cycling, power-lifting, roller skating and swimming.

UpGrad Mumbai Masters Triumph with Narrow Victory in Global Chess League's Opening Match at Dubai

  • The opening match of the Global Chess League took place at Dubai, showcasing a clash between the Triveni Continental Kings and the upGrad Mumbai Masters. The upGrad Mumbai Masters emerged victorious with a narrow 8-7 win over the Triveni Continental Kings.
  • Dubai witnessed the launch of the inaugural Global Chess League, marking a significant milestone for the sport. This groundbreaking event aims to revolutionise chess and expand its global reach by introducing the world's first chess team franchise.
  • The competition features 36 grandmasters, including renowned former world champions Magnus Carlsen and Viswanathan Anand, as well as notable players like Ian Nepomniachtchi, Levon Aronian, and Maxime Vachier-Lagrave, who have all held prestigious titles in the chess world.
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NATIONAL AFFAIRS

Indian Railways, USAID/India Indian Sign MoU for Renewable Energy

  • Indian railways signed a memorandum of understanding (MoU) with United States Agency for International Development/India (USAID/India) for collaboration on renewable energy and energy efficiency.
  • The Ministry of Railways said that through MoU, technical assistance and support would be provided to Indian Railways.
  • The MoU broadly includes long-term energy planning including clean energy for railways and technical support for addressing regulatory and implementation barriers.
  • The MoU is expected to assist in the development of an energy efficiency policy and action plan for IR buildings along with planning for clean energy procurement to achieve the railways' net-zero vision.
  • It will also support railways in the promotion of e-mobility.
  • The collaboration of Indian Railways with USAID will also support railways in the promotion of e-mobility and to achieve net zero carbon emission by 2030.

Coal Ministry Initiates Star Rating Registration Process for Coal, Lignite Mines

  • In order to foster competitiveness among mines and recognise their outstanding performance based on compliance of statutory provisions, adoption of advanced mining technology and economic achievements, the Ministry of Coal announced the commencement of Star Rating Registration process of coal and lignite mines for the financial year 2022-23.
  • The Star Rating policy aims to evaluate mines based on various factors across seven key parameters namely, Mining Operations, Environment-related parameters, Adoption of Technologies, Best Mining Practices, Economic performance, Rehabilitation & Resettlement, Worker-related Compliance and Safety & security.
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DEFENCE

CRPF Signs Pact with Rashtriya Raksha University, Gujarat

  • The Central Reserve Police Force (CRPF) signed an agreement with Gujarat based Rashtriya Raksha University (RRU) for a specialised education, research, training and innovation ecosystem for the Central Armed Police Forces (CAPFs). CRPF DG Sujoy Lal Thaosen and Vice Chancellor Professor Bimal N. Patel were present during the signing of agreement during which the latter assured the CRPF of all possible cooperation and laid particular emphasis on Suraksha Karmayogi mission of the University.
  • Patel highlighted that more than 12,000 persons from India and 48 foreign nations have benefitted under more than 150 training programmes offered by the University. Under the MoU, CRPF personnel will be able to benefit from diploma and degree programs, get accreditation and recognition of training leading towards diploma and degree, exchange of resource persons, conduct research at RRU or CRPF facilities, among others.
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DAYS AND EVENTS

Day of the Seafarer

  • The Day of the Seafarer is a special day dedicated to all those who work closely with salt water, including Coast Guards, Navies, fishermen, marine biologists, and cruise ship captains. It commemorates the first recorded sea voyage around 3200 BCE, which was sponsored by the Egyptian Pharaoh Snefru, known for building several pyramids. This annual event, observed on June 25, aims to acknowledge the crucial role played by seafarers in international trade, the global economy, and society as a whole. Furthermore, it emphasizes their significant efforts in safeguarding the marine environment.
  • The Day of the Seafarer was established through a resolution passed during the 2010 Diplomatic Conference in Manila, where the revised STCW Convention was adopted. This day, observed on June 25, aims to acknowledge and appreciate the exceptional contribution made by seafarers worldwide to international maritime trade, the global economy, and society as a whole. The resolution encourages governments, shipping organizations, companies, ship-owners, and other relevant parties to actively promote and appropriately celebrate this significant day. The United Nations recognizes the Day of the Seafarer as an official observance day.
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GOVERNMENT POLICIES AND SCHEMES

Govt. Introduces 2 Changes as it Amends Electricity Rules 2020

  • The Government of India introduced two changes to the prevailing power tariff system, through an amendment to the Electricity (Rights of Consumers) Rules, 2020. The changes are: introduction of Time of Day (ToD) Tariff, and rationalization of smart metering provisions.
  • Time of Day (ToD) Tariff
  • Rather than being charged for electricity at the same rate at all times of the day, the price you pay for electricity will vary according to the time of day. Under the ToD Tariff system, Tariff during solar hours (duration of eight hours in a day as specified by the State Electricity Regulatory Commission) of the day shall be 10%-20% less than the normal tariff, while the tariff during peak hours will be 10 to 20 percent higher. ToD tariff would be applicable for Commercial and Industrial consumers having Maximum demand of 10 KW and above, from April 1, 2024 and for all other consumers except agricultural consumers, latest from April 1, 2025. Time of Day tariff shall be made effective immediately after installation of smart meters, for the consumers with smart meters.
  • Time of Day (TOD) tariff, is recognized globally across electricity industries, as an important Demand Side Management (DSM) measure which is used as a means of incentivizing consumers to shift a portion of their loads from peak times to off-peak times, thereby improving the system load factor by reducing the demand on the system during peak period. Various statutory provisions already exist to enable and promote implementation of ToD tariff (i.e. Tariff Policy, 2016, Electricity Act, 2003 and National Electricity Policy, 2005).
  • Rules regarding amendment made in smart metering provision
  • Government has also simplified the rules for smart metering. To avoid inconvenience / harassment of the consumers, the existing penalties for increase in consumer's demand beyond the maximum sanctioned load / demand have been reduced. As per the amendment in metering provision, post installation of a smart meter, no penal charges will be imposed on a consumer based on maximum demand recorded by the smart meter for the period before installation date. Load revision procedure has also been rationalized in a way that maximum demand shall be revised upwards only if sanctioned load has been exceeded at least three times in a financial year. Moreover, smart meters shall be read remotely at least once in a day and the data shall be shared with Consumers in order to enable them to take informed decision about consumption of electricity.
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