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Daily G.K. - Top Stories

28 Apr 2024

DAILY G.K. TEST

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BUSINESS AND ECONOMY

Government Approves One-year Extension to RBI Deputy Governor Rabi Sankar

  • The government extended the term of RBI Deputy Governor T. Rabi Sankar for a period of one year. The Appointments Committee of the Cabinet approved the re-appointment of T. Rabi Sankar, Deputy Governor Reserve Bank of India, for a period of one year with effect from May 3, 2024.
  • As Deputy Governor, Sankar oversees crucial departments including currency management, government and bank accounts, information technology, external investments and operations, payment and settlement systems, fintech, foreign exchange, and internal debt management.
  • With an academic background in economics, holding an M.Phil from Jawaharlal Nehru University, Sankar brings extensive expertise to his role. Having joined the RBI in 1990, he has held various positions, accumulating vast experience in payments and settlement, financial markets, and public debt management.

SEBI Approval for CRISIL's ESG Ratings Unit

  • SEBI granted approval to CRISIL ESG Ratings & Analytics as a Category 1 provider of ESG ratings, marking a significant development in the realm of environmental, social, and governance (ESG) assessments in India. This accreditation underscores the growing importance of independent ESG ratings in financial markets, particularly in guiding decision-making for issuers and investors towards sustainable practices.
  • Crisil's foray into ESG ratings began in 2021, and since then, it has monitored over 1,000 companies across 65 sectors. With the establishment of Crisil ESG Ratings as a subsidiary, the focus on ESG scoring intensifies, aligning with global best practices while considering India's unique sectoral nuances.
  • SEBI's regulatory framework requires certified ESG rating providers to adhere to transparent methodologies. This includes the publication of evaluation criteria, proportional weights assigned to environmental, social, and governance factors, and the retention of a minimum ownership interest of 26% by the principal shareholder for at least five years post-regulatory approval.

Aramco and FIFA Forge Global Partnership

  • In a groundbreaking announcement, Saudi Arabia's oil behemoth, Aramco, and the international football governing body, FIFA, have joined forces in a strategic global partnership. The deal, spanning until 2027, designates Aramco as FIFA's Major Worldwide Partner exclusively in the energy sector, encompassing sponsorship rights for marquee events including the FIFA World Cup 2026 and the FIFA Women's World Cup 2027.
  • Aramco's President & CEO, Amin Nasser, emphasised the company's commitment to leveraging sports, particularly football, as a vehicle for societal impact and community development. This collaboration underscores Aramco's broader investment in sports, exemplified by their ownership of Al-Qadsiah football team and endeavors in women's golf and Formula 1 initiatives.
  • Gianni Infantino, FIFA President, hailed the partnership with Aramco, citing its potential to bolster FIFA's flagship tournaments and support member associations worldwide. Notably, Infantino lauded Aramco's dedication to grassroots sports development, hinting at future collaborative endeavors.
  • In addition to the potential partnership with Hengli Group, Aramco's investment horizon extends to collaborations with key players in the petrochemical sector, such as Jiangsu Eastern Shenghong and Shandong Yulong Petrochemical. Noteworthy is Aramco's recent minority stake acquisition in MidOcean Energy, indicative of its sustained efforts to diversify and solidify its global presence.
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SPORTS

India Win Gold Medal in Compound Men, Women Team Event at Archery World Cup in Shanghai

  • India men's and women's compound teams dished out dominant displays and won gold medals at the ongoing Archery World Cup Stage 1 in Shanghai.
  • First, it was the women's compound archery team consisting of Jyothi Surekha, Aditi Goswami and Parneet that made the country proud with a gold medal by beating Italy 236-226 in a tightly-contested match for the top prize.
  • India got its second medal in the compound division when the men's team consisting of Abhishek Verma, Prathmesh Fuge and Priyansh beat the Netherlands 238-231 in anotther well-fought gold medal match.

Nethra Earns 2nd Olympic Quota in Sailing

  • Indian sailor Nethra Kumanan secured a quota for the Paris Olympics in the women's one-person dinghy ILCA 6 event in the Last Chance Regatta in Hyeres, France, on Friday. By finishing fifth with 67 net points, she qualified via the Emerging Nation Program (ENP) quota. The quota is handed to the sailor who has the best finish outside the top-three among the ENP countries.
  • A total of 33 sailors competed in the final qualification tournament, which had three Paris berths on offer (excluding the ENP).

Yuvraj Singh Named ICC Men's T20 World Cup 2024 Ambassador

  • The International Cricket Council (ICC) has announced the appointment of Indian cricket legend Yuvraj Singh as an ambassador for the upcoming ICC Men's T20 World Cup 2024. The announcement comes with just 36 days remaining until the highly anticipated global event for T20 cricket commences.
  • Yuvraj Singh's selection as an ambassador holds special significance, as it commemorates his iconic feat of hitting six sixes in an over during India's triumphant campaign at the inaugural T20 World Cup in 2007.
  • As an ambassador, Yuvraj Singh will participate in a range of exciting World Cup promotional events in the United States, leading up to and during the T20 showpiece. One of the highlights will be his presence at the highly anticipated India versus Pakistan fixture in New York on June 9.
  • Yuvraj Singh joins West Indies icon Chris Gayle and eight-time Olympic gold medalist Usain Bolt as the first ambassadors to be revealed for the upcoming T20 World Cup.
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DEFENCE

India, South Korea Discuss Developments in Areas of Nuclear Disarmament

  • Top officials of India and South Korea discussed developments in the areas of disarmament and non-proliferation relating to nuclear, chemical and biological domains.
  • India-Republic of Korea Consultations on Disarmament and Non-Proliferation were held in Seoul.
  • The two sides discussed developments in the field of disarmament and non-proliferation relating to nuclear, chemical and biological domains, as well as regional non-proliferation issues, outer space security-related matters, conventional weapons, including AI in the military domain and multilateral export control regimes.
  • The Indian delegation was led by Muanpuii Saiawi, Joint Secretary (Disarmament and International Security Affairs), MEA, while the Korean delegation was led by Youn Jong Kwon, Director General for Non-Proliferation and Nuclear Affairs, Ministry of Foreign Affairs.

Germany Lifts Curbs on Sale of Small Arms to India as 'Exception'

  • As per reports, Germany lifted restrictions on the sale of small arms to India as an exception to the country reflecting the growing strategic and military ties between the two countries.
  • Germany had earlier put restrictions over the sale of small arms to non-NATO countries. However, the latest move to provide an exemption to India will pave the way for the sale of small arms from Germany to the Indian military and state police forces.
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DAYS AND EVENTS

World Day for Safety and Health at Work

  • Every year April 28 is celebrated as World Day for Safety and Health at Work all over the world. World Day for Safety and Health at Work Day is observed to promote the prevention of occupational accidents and diseases globally.
  • The International Labour Organization (ILO) established the World Day for Safety and Health at Work in 2003 as an annual global initiative to raise awareness of the importance of safety and health in the workplace. The date chosen for this event coincides with the adoption of the Occupational Safety and Health Convention by the ILO on April 28, 1971.
  • The theme of the World Day for Safety and Health at Work 2024 is 'The impacts of climate change on occupational safety and health'.
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BOOKS AND AUTHORS

EAM Jaishankar Receives Book 'India's Nuclear Titans'

  • External Affairs Minister S. Jaishankar received a copy of the book 'India's Nuclear Titans,' edited by Soumya Awasthi and Shrabana Barua. The book traces the evolution of India into a nuclear state while highlighting the pivotal roles played by renowned figures like Homi Bhabha, Vikram Sarabhai, Abdul Kalam, and K. Subrahmanyam, among others.
  • Upon receiving the book, Jaishankar emphasised the importance of recognising the contributions of these nuclear titans by the emerging generations. He expressed the significance of acknowledging their pioneering efforts in shaping India's nuclear program.
  • The book "India's Nuclear Titans" aims to provide a comprehensive yet concise overview of India's nuclear journey. It explores the challenges and milestones encountered along the way, as the country transformed into a nuclear state.
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