Daily Current Affairs May 31 2023 | Latest News

 

CURRENT AFFAIRS : BANKING & FINANCE

Axis Bank launches ‘Sarathi’, a digital onboarding platform for POS Terminals

• Axis Bank, one of the largest private sector banks in India, has launched ‘Sarathi’, a first-of-its-kind digital onboarding journey to enable Electronic Data Capture (EDC) or Point of Sale (POS) for merchants.
• Unlike the time-consuming traditional onboarding process, which can take several days, Sarathi offers merchants a streamlined and hassle-free experience.
• The solution enables merchants to complete the onboarding process in just four simple steps which includes:
• Realtime database checks for faster application processing
• Live video verification to authenticate merchant information at his/ her convenience
• It eliminates the field verification process which helps in instant decision-making
• Instant installation of POS
• The paperless onboarding process eliminates the need for merchants to fill out cumbersome forms or wait for extended periods to have their POS terminals installed.
• Sarathi’s features include immediate status updates, eliminating the need for follow-up visits, and the ability to transact on the same day their application is processed.

What is a POS Terminal?

• A point-of-sale (POS) terminal is a hardware system for processing card payments at retail locations.
• Software to read magnetic strips of credit and debit cards is embedded in the hardware.

About Axis Bank :

• Established : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

HDFC Bank Launches Future Bankers 2.0 Recruitment Program Partners with Manipal Global Academy of BFSI

• HDFC Bank in association with the Manipal Global Academy of BFSI (Banking, Financial Services & Insurance) has launched Future Bankers 2.0, a pan-India recruitment programme to transform young graduates into banking professionals within one year.

About Future Bankers 2.0 :

• Future Bankers 2.0 is a one-year professional diploma that aims to create a robust, future-ready talent pipeline for HDFC Bank’s retail banking business, a key thrust area for the bank.
• It offers an exciting mix of classroom sessions, guest lectures, group discussions, role plays, and field work.
• In addition to this, the programme provides 8 months of paid internship and on-the-job training at HDFC Bank’s branch locations within the country to further strengthen a student’s grounding in banking products, processes, compliance framework, and day-to-day banking operations.
• Upon successful completion of the course, a student will get a Postgraduate Diploma in Sales & Relationship Banking from Manipal Academy of BFSI and an assured job opportunity as a personal banker at the grade of Deputy Manager with HDFC Bank.
• All the successful candidates will be offered an annual CTC up to 5.59 lakh*.

About HDFC Bank Ltd :

• Founded : August 1994
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World

ADB & India Signs $141.12-Million Loan For Industrial Corridor Development In Andhra Pradesh    

• Asian Development Bank (ADB) and the Government of India (GoI) signed a USD 141.12-million loan to support the development of high-quality internal infrastructure in Andhra Pradesh (AP).

Objective of the loan :

• To support the development of essential infrastructure, such as roads, water supply systems and power distribution networks, in three industrial clusters located in Andhra Pradesh.
• This financing is the second tranche of the USD 500 million multi-tranche financing facility (MFF) for the programme approved by ADB in 2016 to build infrastructure in three industrial clusters in the Visakhapatnam and Srikalahasthi-Chittoor nodes in AP.
• ADB also approved a $250 million loan as part of the MFF to support the government’s National Industrial Corridor Development Program (NICDP) through October 2021.

Key Highlights :

• The ADB financing through adopting a multi-sectoral approach will help the state in promoting industrialization to increase the share of manufacturing in the state’s gross domestic product, build competitiveness and create jobs in the project target areas.
• The financing will help strengthen industrial infrastructure in Visakhapatnam node with the development of internal infrastructure in the start-up area of the 160-hectare (ha) Rambilli and 441-ha Nakkapalli industrial clusters, widening of 8-kilometer (km) of the Atchuthapuram–Anakapalli road and improvement of 4.4-km access road to the Nakkapalli cluster.
• Internal infrastructure in the proposed clusters will include internal roads, storm water drains, water supply systems, and electric power distribution systems.
• In Srikalahasthi-Chittoor node, the project will help develop the start-up area of the 938-ha Chittoor–South industrial cluster, and improve a 9.5-km access road to the Chittoor-South industrial cluster and an 8.7-km access road to the Naidupeta industrial cluster.

About ADB :

• Established : 19 December 1966
• Headquarters : Mandaluyong, Metro Manila, Philippines
• President : Masatsugu Asakawa
• Membership : 68 countries

CURRENT AFFAIRS: NATIONAL NEWS

Centre notifies Competition (amendment) Act, withholds stringent penalty norms

• The Centre notified several provisions of the Competition (Amendment) Act 2023, which received Presidential assent on April 11.
• However, the Centre has withheld the notification of the provisions of the amended law which empowered the fair trade regulator to impose hefty penalties on erring enterprises for their anti-competitive conduct.
• This has provided immediate respite to global Big Techs including Google and Amazon who are facing anti-trust cases against them.
• The MCA has now specified May 18 as the date on which several notified provisions of the amendment law will come into effect.
• The penalty for false statements/ omissions has been increased from ₹ 1 crore to 5 crores to strengthen CCI’s power in ensuring companies furnish true, full and adequate disclosures in their submissions.
• Further, the process of filing appeals against CCI’s orders before the appellate tribunal has become more onerous as erring companies will have to necessarily pay 25 percent of the penalty amount in order for the appeal to be admitted for hearing.
• However, some of the other major substantive provisions, such as, deal value threshold, settlement and commitment mechanism, leniency plus regime and penalty based on global turnover are yet to be made effective, as they require corresponding regulations to be issued by the CCI.
• The MCA has also now notified the provision requiring the CCI to engage with stakeholders while drafting regulations, to ensure transparency.

India’s Marine Fish Landings Gains 15% in 2022

• India’s marine fish landing in 2022 registered a 15 per cent increase at 3.49 million tonnes compared to the figure in 2021.
• An increase of 28 per cent was reported in 2022 compared to the pandemic year in 2020.
• Tamil Nadu regained the first place in fish landings with 7.22 lakh tonnes accounting for 21 per cent, followed by Karnataka (6.9 5 lakh tonnes) and Kerala (6.87 lakh tonnes).
• Gujarat, occupying the top two slots in previous years, was the fourth (5.03 lakh tonnes) in fish landings, recording a nearly 13 per cent drop compared to the 2021 landings due to lower fishing efforts and trade-related issues.
• Marine fish resources with topmost landings in 2022 were Indian mackerel, with a contribution of 3.28 lakh tonnes; Oil sardine with 2.51 lakh tonnes; Ribbon fishes, 2.27 lakh tonnes; Cephalopods, 2.06 lakh tonnes and Threadfin breams, 1.99 lakh tonnes.
• The Central Marine Fisheries Research Institute has been tasked with scientific data collection and estimation of marine fish landings to monitor the stock health of the country’s diverse marine fishery resources and aid the planners to take an informed look at the harvest pattern

India set to triple speed of its fastest supercomputers

• According to the Ministry of Earth Sciences (MoES), India is set to dramatically scale up its super-computing prowess and install an 18-petaflop system over the course of this year.
• The most important details are that India’s most powerful supercomputers, Pratyush and Mihir, with a combined capacity of 8 petaflops, are housed at the Indian Institute of Tropical Meteorology (IITM) and the National Centre for Medium-Range Weather Forecasting (NCMRWF).
• These supercomputers were made operational in 2018 at an investment of 438 crores and will be housed at the IITM and NCMRWF.
• The Government of India has signed a deal with France to procure high-performance computers worth 4,500 crore by 2025.
• The new earth-sciences Ministry computers are likely to cost 900 crores and will improve resolution to 6*6 km, meaning four times as many pixels can be used to represent a given area.
• The fastest high-performance computing system in the world is currently the Frontier-Cray system at Oakridge National Laboratory, with a peak speed of 1 exa-flop.

Ministry of Civil Aviation launches UDAN 5.1 specifically designed for helicopter routes

• The Ministry of Civil Aviation has launched UDAN 5.1 , a new version of the Regional Connectivity Scheme (RCS) specifically designed for helicopter routes.
• After four successful rounds of the Regional Connectivity Scheme (RCS)-Ude Desh Ka Aam Nagrik (UDAN), the fifth round version 5.0 is in process.
• Ministry of Civil Aviation has launched UDAN 5.1 to further enhance the connectivity to remote areas of the country and achieve last-mile connectivity through helicopters.
• For the first time under RCS-UDAN, this round has been specially designed for helicopter routes.

The main features include:

• An increase in the scope of operations for operators wherein the scheme will now allow routes where one of the origin or destination locations is in a priority area. Earlier both points had to be in priority areas.
• Airfare caps have been reduced by as much as 25% to make flying in helicopters more affordable for passengers.
• Viability Gap Funding (VGF) caps for the operators have been increased substantially for both single and twin-engine helicopters to enhance financial viability for operating the awarded routes.
• The latest round of Indian civil aviation’s “UDAN” plan has two important objectives – first, a uniform expansion of air travel with a focus on last-mile connectivity, and second, boosting interest in helicopters for tourism.
• Such efforts and more use of helicopters will help in promoting tourism, hospitality and local economies.
• So far 46 helicopter routes have been operationalized under the previous round of the scheme, benefitting many hilly and North Eastern states and this round is targeting coverage of a much larger number of routes.

Education Ministry, PARAKH Organise Workshop On Aligning Curriculum Standards

• The Union Ministry of Education and national assessment regulator PARAKH organised the first workshop to brainstorm school assessments, examination practices and equivalence of boards across the country.
• In India, currently there are around 60 school examination boards that are operating in different states and Union Territories.
• The aim is to establish a unified framework that enables seamless transitions for students moving between different boards or regions.
• National Education Policy (NEP) 2020 envisages a shift from summative assessment to regular and formative assessment, which is more competency-based, promotes learning and development, and tests higher-order skills, such as analysis, critical thinking, and conceptual clarity.
• In October 2020, the Union Cabinet approved setting up of Performance Assessment, Review and Analysis of Knowledge for Holistic Development (PARAKH).

About PARAKH

• PARAKH is developed to improve the monitoring, measuring and assessing activities in the Indian school education system.
• It is a standard setting body autonomous organisation under the ministry of education that fulfils basic objectives of setting norms, standards and guidelines for student assessment and evaluation for all recognised school boards of India.
• PARAKH will formulate guidelines and recommend appropriate tools for conducting such assessments, from the foundational stage to higher education (including for entrance exams).

NITI Aayog to hold 8th Governing Council Meeting

• The eighth meeting of the NITI Aayog Governing Council was held at the New Convention Center at Pragati Maidan, New Delhi.
• The meeting focused on the theme “Viksit Bharat @ 2047: Role of Team India.”
• Seven more major topics were discussed in the meeting.
• These include Thrust on MSMEs, Infrastructure and Investments, Minimising Compliances, Women Empowerment, Health and Nutrition, Skill Development, and Gati Shakti for area development and social infrastructure.
• Chief Ministers and Lieutenant Governors of the States, Union Ministers and Vice Chairman and Members of NITI Aayog participated in the meeting.
• As a preparation for the 8th meeting of the Governing Council, the 2nd Chief Secretaries’ Conference was held in January 2023, where these subjects were discussed extensively.

Extreme weather killed 1.38L Indians from 1970 to 2021: WMO

• Over 1.38 lakh people died in the country due to extreme weather, climate and water-related events between 1970 and 2021.
• It has been revealed in new findings by the World Meteorological Organisation (WMO).
• As many as 573 disasters were reported in India during the period.
• The event aims to initiate a high-level dialogue on accelerating and scaling-up action to ensure that the early warning services reach everyone globally by the end of 2027.
• In Asia, around 9.84 lakh deaths incurring US$ 1.4 trillion in economic losses took place during the period.
• Floods were the leading cause of the reported economic losses.
• Globally, according to the report, there were 11, 778 reported disasters attributed to weather, climate and water extremes between 1970 and 2021.
• They caused 2,087,229 deaths and US$ 4.3 trillion in economic losses.
• Flood-related disasters were the most prevalent.
• However, in terms of impact, tropical cyclones were the leading cause of both reported deaths and economic losses worldwide.

About WMO:

• WMO is a specialized agency of the United Nations established in 1950 as an intergovernmental body.
• The World Meteorological Organisation (WMO) has 193 Member States and 6 Member Territories.
• Headquarters- Geneva, Switzerland.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Germany, world’s fourth-largest economy, enters recession 

• World’s fourth-largest economy and Europe’s largest, Germany, has entered into recession after the country’s Gross Domestic Product (GDP) recorded its second quarterly contraction.

Key Highlights :

• The data released by the Federal Statistical Office shows Germany’s gross domestic product (GDP), declined by 0.3% in the period from January to March, 2023.
• This follows a drop of 0.5% in Europe’s biggest economy during the last quarter of 2022.
• The inflation rate of Germany is more than Europe’s average but below that of the UK’s 8.7%.
• Household consumption and Government spending also decreased
• Public spending has declined by 1.2% in the first 3 months due to high inflation.
• Declined purchasing power, aggressive monetary policy tightening and the slowdown of the US economy have weakened economic activities.
• The European Central Bank (ECB) has raised its interest rate by 375 basis points since July.

What is recession?

• A recession is defined as two consecutive quarters of declining output.
• It is a significant, widespread, and prolonged downturn in economic activity.

About Germany :

• President : Frank-Walter Steinmeier
• Capital : Berlin
• Currency : Euro

CURRENT AFFAIRS : STATE NEWS

Arunachal Pradesh to set up Institute for Transforming Arunachal with NITI Aayog

• Arunachal Pradesh government will set up Institute for Transforming Arunachal (ITA) with the help of NITI Aayog to take the development of the state to the next level.
• Chief Minister Shri Pema Khandu gave this information in a social media post.
• On 24 May, 2023 they held a meeting in Itanagar to discuss setting up of ITA.

Key Highlights :

• The Institute for Transforming Arunachal Pradesh will be instrumental in the transformation of the state, helping various departments to take forward development activities and bring forward their own capabilities.
• The institute will help in developing an ecosystem for knowledge enhancement.
• The government is looking for ways to build a strong database with the family as a unit.
• It will help in the timely and accurate disbursement of social security benefits.
• This would further boost the livelihood of the people and provide hassle free access to various services.

About Arunachal Pradesh :

• Governor : Kaiwalya Trivikram Parnaik
• Chief Minister : Pema Khandu
• Capital : Itanagar
• National Park : Namdapha National Park, Mouling National Park
• Wildlife Sanctuary : Mehao Wildlife Sanctuary, Dibang Wildlife Sanctuary, Itanagar Wildlife Sanctuary

Union Home Minister Shri Amit Shah lays the foundation stone of Guwahati campus of National Forensic Science University (NFSU) in Assam & launches Assam Police Seva Setu Portal

• Union Home Minister and Minister of Cooperation, Shri Amit Shah laid the foundation stone of Guwahati campus of National Forensic Science University (NFSU) in
• This will be the world’s 11th campus and the country’s 10th campus has been established in Guwahati.
• A book written by J.M Vyas on the use of forensic science in judiciary was also released.

Key Highlights :

• The Assam Government has given 50 acres of land for this Forensic Science University and the Government under the leadership of PM Shri Narendra Modi, will provide about Rs 500 crore on this NFSU for graduation and post graduation of 3,500 students.
• The project’s first phase was supposed to be finished by 2026, and the second by 2030.
• More than 50 undergraduate, graduate, PhD, and post-doctoral programmes in forensic science, wildlife forensics, cyber security, narcotics, digital forensics, drone forensics, forensic psychology, and forensic justice and law will be offered at the campus, which will be built at an estimated cost of Rs 300 crore.
• Along with this, he also launched the web portal ‘Assam Police Seva Setu‘ to make the services of the Assam Police more accessible and transparent for the people.

Features of Assam Police Seva Setu :

• The portal will be bilingual which will have Assamese and Bengali languages.
• Instant reporting of crimes, submission of grievances and access to police
• Online registration of senior citizens living alone
• Verification of tenants, PG inmates and domestic help & Filling reports for missing persons, child-related issues and lost and found items
• Security clearance for commercial construction, petrol pump, gas agency, etc.
• Applying for permission/No Objection Certificte (NOC) for firecracker sale, temporary bar licence, etc

About Ministry of Home Affairs :

• Cabinet Minister : Amit Shah
• Minister of State : Nityanand Rai, Nisith Pramanik, Ajay Kumar Mishra

About Assam :

• Governor : Gulab Chand Kataria
• Chief Minister : Himanta Biswa Sarma
• Capital : Dispur
• National Park : Kaziranga National Park, Nameri National Park, Manas National Park
• Wildlife Sanctuary : Chakrashila Wildlife Sanctuary, Bornadi Wildlife Sanctuary

CURRENT AFFAIRS: MOUS AND AGREEMENT

Arya.ag, Bayer partner to promote sustainable agriculture in India

• Agritech firm Arya.ag has joined forces with Bayer CropScience in a strategic collaboration aimed at promoting sustainable agriculture.
• The partnership aims to scale up a sustainable crop production model that optimizes resource utilization and delivers definable and economic benefits to all farmers.
• The collaboration marks a significant milestone for both companies, and under the MoU, Arya.ag and Bayer CropScience will work together on several projects to achieve their sustainability goals.
• Arya is India’s leading Agritech which has been working at the farmgate to strengthen agriculture value chains through its integrated range of services.

Toonz Animation ties up with FTII Pune for animation, visual effects courses

• Toonz Animation Studios through its education services arm Vizdem has announced that it is collaborating with the Film and Television Institute of India (FTII) Pune to offer animation and visual effects courses.
• Toonz and FTII signed an MoU to this effect, which aims to bridge the gap between industry requirements and academia by developing relevant skill-based courses in the media and entertainment industry.
• Apart from this, both Toonz and FTII have plans to develop various animation and visual effects courses and to set up an incubation center on the FTII campus.
• This will help the students to develop their own IP and reach out to broadcasters across the globe.
• As per the MoU, Toonz will collaborate with FTII to offer animation and visual effects programs under FTII’s Centre for Open Learning (CFOL)

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Vedanta-Foxconn JV appoints Mike Young to lead manufacturing operations

• Vedanta-Foxconn Semiconductors Limited (VFSL), a joint venture (JV) between Foxconn and Vedanta Group has appointed Mike Young as Senior Vice President of the Project Management Office and Manufacturing Operations.
• In this role, Young will oversee execution of manufacturing and operational processes as the company gears up to set its first semiconductor fab in India.
• The JV between the Vedanta group and Taiwanese contract manufacturer Foxconn aims to begin generating revenue from its semiconductor fabrication unit in India from FY27.
• Recently, the company hired IBM veteran Terry Daly as Advisor.

About Mike Young :

• He served as CEO of X-FAB Sarawak, Malaysia.
• He has extensively worked in areas of operations, yield, and device engineering with leading companies like X-FAB UK, STMicroelectronics, Siemens, Atmel, and Plessey Semiconductors.
• CEO of VFSL : David Reed.

Karnataka Bank appoints Srikrishnan Hari Hara Sarma as MD & CEO

• Private sector lender Karnataka Bank appointed Srikrishnan Hari Hara Sarma as managing director (MD) and chief executive officer (CEO) of the bank for a period of 3 years.
• The appointment is subject to the shareholders’ approval at the next Annual General Meeting or within a period of 3 months from the date of assuming charge, whichever is earlier.
• With this appointment, there would be 11 directors on the board of the bank.
• Of which, 8 are independent directors constituting 73% of the board, including one woman independent director.

About Srikrishnan Hari Hara Sarma :

• Sarma has nearly four decades of experience spread across Commercial, Retail, and Transactional Banking, Technology and Payments.
• At HDFC Bank Limited, he was part of the founding management team, for over 9 years, and as the country head – Transactional Banking and Operations, was involved in setting up the bank’s corporate and retail banking, treasury and capital markets infrastructure business.
• He later joined Yes Bank.
• At Jio Payments Bank, as MD and CEO, he was responsible for application and coordination for approval of licence with the RBI, incorporation of the company, formation of the board, strategic direction, and commencement of operations in 2018.

About Karnataka Bank Limited :

• Founded : 18 February 1924
• Headquarters : Mangalore, Karnataka, India
• Tagline : Your Family Bank Across India

Realme appoints Bollywood actor Shah Rukh Khan as New brand ambassador  

• Realme has appointed Bollywood actor Shah Rukh Khan as its brand ambassador for realme smartphones.
• This is not the first time that Realme has appointed a Bollywood actor as the face of their brand.
• In 2020, the company collaborated with Salman Khan for its Realme 6 series and actress Shraddha Kapoor for its AIoT products.
• The first product Khan will endorse for realme is the realme 11 Pro Series 5G, which exemplifies the brand’s dedication to providing cutting-edge technology to its customers.
• This collaboration sets the stage for realme’s continued growth and success, while remaining true to its ‘Dare to Leap’ philosophy.

About Reamle :

• Founded : 4 May 2018
• Headquarters : Shenzhen, Guangdong, China
• Realme is a Chinese consumer electronics manufacturer.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army’s Sapta Shakti Command Conducts exercise ‘Sudarshan Shakti 2023’ along western border 

• The Sapta Shakti Command of the Indian Army conducted exercise ‘Sudarshan Shakti 2023’ along the western borders in Rajasthan and

Aim :

• To start the transformation of the forces into a modern, lean, and agile fighting combination capable of leveraging new-age technologies.

Key Highlights :

• The exercise was designed to validate operational plans in a network-centric environment with elements of combat power, combat support and logistic support.
• The exercise involved coordinated application of combat power, combat support and logistic support under all enemy threat zones including grey zone warfare.
• This exercise also facilitated in meeting the stated objectives of 5 pillars of transformation enunciated by COAS General Manoj Pande in January 2023.
• “Sudarshan Shakti 2023” highlights the commitment of the South Western Command and its associated units towards maintaining a high level of operational preparedness and capability to fight a technology intensive future conflict.

About Indian Army :

• Chief of Defence Staff : General Anil Chauhan
• Chief of the Army Staff : General Manoj Pande

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

South Korea launched first commercial grade satellite – NEXTSAT-2 

• South Korea successfully launched Next Generation Small Satellite-2 (NEXTSAT-2), the first commercial-grade satellite aboard Korean Satellite Launch Vehicle Two (KSLV-II), nicknamed “Nuri,”rocket lifted off from the Naro Space Center in Goheung, South Korea.
• The domestically built three-stage Nuri rocket lifted off from a launch facility on a southern island with a payload of 8 satellites, including a main commercial-grade satellite whose mission is to verify radar imaging technology and observe cosmic radiation in a near-Earth orbit.
• The launch would mark the third test for the country’s commercial-grade satellite.
• The South Korean launch will likely assist its efforts to develop a space-based surveillance system.
• The launch boosted South Korea’s hopes of catching up with Asian neighbours such as China, Japan and India in a regional space race.

About NEXTSAT-2 :

• NEXTSAT-2 the 180-kilogram satellite designed and developed by the Korea Advanced Institute of Science and Technology (KAIST) will demonstrate X-band radar technology and measure space radiation on a dawn-dusk orbit for the next two years.
• Korea’s King Sejong Station in Antarctica received the first signal from NEXTSAT-2.
• NEXTSAT-2 also made two-way communications 7 times with the Daejeon station and other overseas posts.
• The two Koreas, technically in a state of war, have no military reconnaissance satellites of their own and both are eager to possess them.
• South Korea is expected to launch its first spy satellite later in 2023.
• It currently relies on U.S. spy satellites to monitor North Korean facilities.

About South Korea : 

• President : Yoon Suk Yeol
• Prime Minister : Han Duck-soo
• Capital : Seoul
• Currency : South Korean won

CURRENT AFFAIRS: IMPORTANT DAYS

World No Tobacco Day 2023 – May 31

• World No Tobacco Day is observed every year on May 31.
• This day is also known as World Anti Tobacco Day.
• The theme of World No Tobacco Day 2023 is “We Need Food, Not Tobacco”.
• World No tobacco day is to spread awareness to the people about the harmful effects of tobacco which causes cancer, lung disease, etc.
• World No Tobacco Day is one of the public health campaigns organized by the World Health Organization.
• In 1987, World Health Assembly passed a resolution called “world no-smoking day”.
• The main objective of this day was to urge tobacco users to withdraw tobacco products.
• In 1988, World Health Assembly celebrated May 31 as World No Tobacco Day.
• In 1998, World Health Organization established Tobacco-Free Initiative (TFI) to focus on global health issues of tobacco.
• In 2008, on World No Tobacco Day, World Health Organization (WHO) called for a ban on all tobacco products, advertisements, promotion, and sponsorship.

Daily CA One- Liner: May 31

• Axis Bank, one of the largest private sector banks in India, has launched ‘Sarathi’, a first of its kind digital onboarding journey to enable Electronic Data Capture (EDC) or Point of Sale (POS) for merchants.
• HDFC Bank in association with the Manipal Global Academy of BFSI (Banking, Financial Services & Insurance) has launched Future Bankers 2.0, a pan-India recruitment programme to transform young graduates into banking professionals within one year.
• Asian Development Bank (ADB) and the Government of India (GoI) signed a USD 141.12-million loan to support the development of high-quality internal infrastructure in Andhra Pradesh (AP).
• World’s fourth-largest economy and Europe’s largest, Germany, has entered into recession after the country’s Gross Domestic Product (GDP) recorded its second quarterly contraction.
• The Centre notified several provisions of the Competition (Amendment) Act 2023, which received Presidential assent on April 11
• India’s marine fish landing in 2022 registered a 15 per cent increase at 3.49 million tonnes compared to the figure in 2021
• According to the Ministry of Earth Sciences (MoES), India is set to dramatically scale up its super-computing prowess and install an 18-petaflop system over the course of this year
• The Ministry of Civil Aviation has launched UDAN 5.1 , a new version of the Regional Connectivity Scheme (RCS) specifically designed for helicopter routes
• The Union Ministry of education and national assessment regulator PARAKH organised the first workshop to brainstorm school assessments, examination practices and equivalence of boards across the country
• The eighth meeting of the NITI Aayog Governing Council was held at the New Convention Center at Pragati Maidan, New Delhi
• Over 1.38 lakh people died in the country due to extreme weather, climate and water-related events between 1970 and 2021
• Agritech firm Arya.ag has joined forces with Bayer CropScience in a strategic collaboration aimed at promoting sustainable agriculture
• Toonz Animation Studios through its education services arm Vizdem has announced that it is collaborating with the Film and Television Institute of India (FTII) Pune to offer animation and visual effects courses
• Arunachal Pradesh government will set up Institute for Transforming Arunachal (ITA) with the help of NITI Aayog to take the development of the state to the next level.
• Union Home Minister and Minister of Cooperation, Shri Amit Shah laid the foundation stone of Guwahati campus of National Forensic Science University (NFSU) in Assam & also he launched the web portal ‘Assam Police Seva Setu‘ to make the services of the Assam Police more accessible and transparent for the people.
• Vedanta-Foxconn Semiconductors Limited (VFSL), a joint venture (JV) between Foxconn and Vedanta Group has appointed Mike Young as Senior Vice President of the Project Management Office and Manufacturing Operations.
• Private sector lender Karnataka Bank appointed Srikrishnan Hari Hara Sarma as managing director (MD) and chief executive officer (CEO) of the bank for a period of 3 years.
• Realme has appointed Bollywood actor Shah Rukh Khan as its brand ambassador for realme smartphones.
• The Sapta Shakti Command of the Indian Army conducted exercise ‘Sudarshan Shakti 2023’ along the western borders in Rajasthan and
• South Korea successfully launched Next Generation Small Satellite-2 (NEXTSAT-2), the first commercial-grade satellite aboard Korean Satellite Launch Vehicle Two (KSLV-II), nicknamed “Nuri,”rocket lifted off from the Naro Space Center in Goheung, South Korea.
• World No Tobacco Day is observed every year on May 31.