DAILY CURRENT AFFAIRS

By admin: May 19, 2023

CCI approves merger of Credit Suisse Group with UBS Group

Tags: Economy/Finance National News

The Competition Commission of India (CCI) on 18 May approved the proposed merger of Credit Suisse Group AG with UBS Group AG.

About UBS Group AG (UBS)

• UBS Group AG (UBS) is a multinational investment bank and financial services company

• It is a Switzerland based company and is active globally.

• UBS's businesses include wealth management, asset management, investment banking services, and retail and corporate banking.

• In India, UBS's business is primarily focused on brokerage services.

About Credit Suisse Group AG (Credit Suisse)

• Credit Suisse Group AG (Credit Suisse) is a multinational investment bank and financial services company established in Switzerland.

• Credit Suisse is active globally and its businesses include wealth management, asset management, investment banking services, and retail and corporate banking.

• In India, Credit Suisse's businesses include wealth management and investment banking services.

Competition Commission of India (CCI) 

• The Competition Commission of India (CCI) is the chief national competition regulator in India. 

• It was set up under the Competition Act, 2002

• It comes under the Ministry of Corporate Affairs.

• It promotes healthy market competition and prevents activities that have an adverse effect on competition in India. 

• CCI also approves combinations under the act so that two merging entities do not overtake the market.

• Headquarter - New Delhi

• Current Chairman - Ashok Kumar Gupta

India launches 'Operation Karuna' to provide aid to Myanmar

Tags: International News

India launched "Operation Karuna" to provide humanitarian assistance for people in Myanmar, which is affected by Cyclone Mocha. 

An overview of the news

• Three ships from India carrying relief material reached Yangon on 18th May.

• Indian Naval Ships Shivalik, Kamorta and Savitri were the first Naval ships to arrive at Yangon with relief material on 18th May.

• The ships are carrying emergency food supplies, tents, essential medicines, water pumps, portable generators, clothes, hygiene items, etc.

• Indian Navy Committed to Ensuring Security and Growth for All in the Region

• India has always been at the forefront in providing assistance to its neighbors during such calamities.

About Cyclone Mocha

• Cyclone Mocha which recently hit Myanmar has been classified as an extremely severe cyclonic storm by the IMD.

• It has been classified as a 'Super Cyclone' by the global weather website Zoom Earth.

• The name of the storm 'Mocha' has been suggested by Yemen.

• Mocha originated in the Bay of Bengal.

• With a recorded wind speed of 277 kmph, Mocha has become the strongest all-season cyclone to form in the Arabian Sea and Bay of Bengal since 1982.

Asia Petrochemical Industry Conference 2023

Tags: Summits National News

Union Minister of Health, Chemicals and Fertliser Dr Mansukh Mandaviya presided over the Asia Petrochemical Industry Conference 2023 in New Delhi on 19th May.

An overview of the news

• The Chemical and Petrochemicals Manufacturers Association (CPMA) of India hosted the 41st edition.

• The theme of the event was “Ushering in a Sustainable Future”. 

• Over 1200 delegates from seven member nations as well as participants from Europe, China, America, Mid East and other Asian Countries and global partners participated in the conference.

• Mansukh Mandaviya said that the Indian chemical manufacturing industry has indeed been one of the emerging global manufacturing hubs for petrochemicals.

• India is determined to be a trusted partner in the global supply chain of chemicals and petrochemicals to the world.

Objective of Conference 

• The main objective of the conference is to spur discussion and co-operation on the issues of the day being faced by the industry related to growth, trade, investment, and sustainability, in Asia-Pacific and also around the world.

About Asia Petrochemical Industry Conference

• The conference is hosted on a rotational basis by the seven member countries–Japan, Korea, Malaysia, Singapore, Thailand, Taiwan and India.

• It is a prominent event held annually in Asia that brings together industry professionals, experts, and stakeholders from the petrochemical sector.

• The conference aims to facilitate knowledge exchange, foster collaborations, and address challenges and opportunities in the petrochemical industry across the Asian region.

About CPMA

• It is the apex forum in the country representing the Indian Chemicals & Petrochemicals Industry. 

• It was established in 1993. 

• It offers its members a podium to collectively present their ideas, voice their concerns and offer suggestions on industry issues. 

• It provides a linkage between the industry, the Government and the society at large.

Madhya Pradesh cabinet approves 'Mukhya Mantri Sikho Kamao Yojana' for unemployed youth

Tags: Government Schemes State News

The Madhya Pradesh cabinet, chaired by Chief Minister Shivraj Singh Chouhan, on May 17 approved the 'Mukhya Mantri Sikho Kamao Yojana' for unemployed youth.

About Mukhya Mantri Sikho Kamao Yojana

• It was decided in the meeting that the name of Mukhya Mantri Kaushal Kamai Yojana will be 'Mukhyamantri Sikho-Kamao Yojana' (Chief Minister Learn-Earn Scheme).

• Under the scheme, at least one lakh youths will be provided training in establishments.

• All the youth who have done 12th pass, ITI, Diploma, Graduation and Post Graduation will be eligible for this scheme.

• After the training, the State Council for Vocational Training (SCVT) certificate will be given by the Madhya Pradesh State Skill Development and Employment Generation Board (MPSSDEGB). 

• Prestigious industrial and private institutions of the country and the state will be connected with the scheme.

• Establishments will be able to train student trainees up to 15 percent of their total workforce.

• Under the scheme, youth will be taught work and in return they will be given stipend by the government.

• Under the scheme, 12th passed trainees will be given 8 thousand rupees, ITI passed 8 thousand 500 rupees, diploma passed 9 thousand rupees and graduate passed or higher educational qualification will be given 10 thousand rupees per month stipend. 

About Madhya Pradesh

• In terms of area, it is the second largest state of India after Rajasthan.

• According to the Indian Forest Status Report-2021, Madhya Pradesh has the maximum forest cover in the country in terms of area.

• 25.14% of its area is covered by forests.

• Chief Minister - Shivraj Singh Chouhan

• Capital - Bhopal

Defence production crosses Rs 1 lakh crore mark for the first time ever

Tags: Economy/Finance Defence National News

The value of defense production in the financial year (FY) 2022-23 has crossed the Rs one lakh crore mark for the first time.

An overview of the news

• The value is currently Rs 1,06,800 crore and may increase further once data is received from the remaining private defense industries.

• The present value of defense production in FY 2022-23 is over 12 per cent higher than Rs 95,000 crore in FY 2021-22.

Government's efforts to boost defense production

• Simplified defence industrial licensing, relaxation of export controls and grant of No Objection Certificate.

• Specific incentives introduced under the foreign trade policy.

• Defence Production & Export Promotion Policy 2020.

• The government had issued two "positive indigenization lists" which included 209 items that could not be imported.

• The government has also announced two dedicated corridors in Tamil Nadu and Uttar Pradesh to act as clusters of defense manufacturing.

• The number of defense licenses issued by the government to industries has increased by almost 200 per cent in the last 7-8 years.

• These measures have given a boost to the defense industrial manufacturing ecosystem in the country and have generated tremendous employment opportunities.

The vision of the government

• To achieve a turnover of $25 billion, including exports of $5 billion in aerospace and defence goods and services by 2025.

First Inter-Ministerial Committee Meeting held on World Food India 2023

Tags: Summits National News

Secretary, Food Processing Industries (FPI) Anita Praveen, chaired the First Inter- Ministerial Committee Meeting with senior representatives from Ministries/Departments/Boards on 16th May 2023 in New Delhi.

An overview of the news

• The agenda of the committee meeting was to apprise the officials about the preparations made so far for World Food India 2023 and to discuss the participation of concerned Ministries/Departments/Organizations in the event.

• This was in continuation of the series of interactions held to apprise them of the Ministry's action plan for the upcoming World Food India 2023 and discuss possible areas of collaboration.

• The meeting was attended by senior officials from key Ministries and Departments of the Central Government.

• In the meeting, the stakeholders were requested to share the specific action plan regarding the mega food event to be held in Delhi from 3rd to 5th November 2023.

• The next meeting of the Inter-Ministerial Committee is expected to be held in June 2023 to strengthen the partnership/participation of various stakeholders.

About World Food India

• World Food India (WFI) is a global event to facilitate partnerships between Indian and international businesses and investors.

• It is a gateway to the Indian food economy and an opportunity to showcase, connect and collaborate.

• It is organized by the Ministry of Food Processing Industries, Government of India.

• WFI is the largest gathering of investors, manufacturers, producers, food processors, policy makers and organizations from the global food ecosystem.

• It aims to provide investment and business opportunities in the food processing sector for leading Indian and international companies.

• World Food India 2023 theme is “Processing for Prosperity”.

Ministry of Civil Aviation organises curtain raiser event

Tags: National National News

The Ministry of Civil Aviation organised a curtain raiser event for Wings India 2024 and it is Asia's largest commercial, general and business aviation event to be held in January 2024.

An Overview of the News

• Government is shifting focus from regulator to facilitator in capacity building for the aviation market.

• India aims to become the largest aviation market globally by 2047.

• Strategy for capacity building, removal of bottlenecks and simplification of procedures in the aviation sector.

• The number of airports increased from 74 to 148 in the last nine years and the target is to have more than 200 in the next few years.

• The UDAN regional connectivity scheme is capable of adding new airports and connecting tier-2 and tier-3 cities.

• Wings India 2024 will be held in Hyderabad from January 18 to 21, 2024, to promote collaboration and showcase innovations in the aviation industry.

Ministry of Civil Aviation in India:

• It is the nodal ministry responsible for the formulation of national policies and programs for the development and regulation of civil aviation.

• It is responsible for formulating and implementing plans for the orderly development and expansion of civil air transport in the country.

Headquarter - New Delhi

Office holder - Jyotiraditya Scindia

75/25 Initiative and Empowered Portal

Tags: National National News

The Union Health Ministry announced the "75/25" initiative to provide standard care to 75 million people with hypertension and diabetes by 2025 through Primary Health Centers (PHCs).

An Overview of the News

75/25 Initiative:

• 40,000 primary health care medical officers will be trained on standard treatment workflow for non-communicable diseases (NCDs) through the SASHAKT portal.

• India has the largest coverage of NCDs globally, aiming to reach 75 million people with hypertension under standard care in primary healthcare by 2025.

• The initiative was launched during the G20 co-branded event "Accelerating Prevention and Management of Hypertension and Diabetes".

• The scheme aims at the largest coverage of NCDs in primary healthcare across the world with a community-based approach.

SASHAKT Portal:

• The National Health Systems and Resources Center (NHSRC) has developed a web portal named SASHAKT (Systematic Assessment of Health care providers Knowledge and Training).

• The portal supports states in implementing and monitoring training for health workers.

The specific objectives of training monitoring software are as follows:

• Planning: To assist states in planning training for health workers.

• Quality Monitoring: Monitoring the quality of the training being conducted.

• Real-time Status: To determine the real-time status of training of health workers.

• Documentation and Reporting: Facilitates timely documentation and reporting on the status of training.

IGNCA organises Rabindra Jayanti in New Delhi

Tags: National National News

Rabindra Jayantiwas organised in New Delhi on 12 May by the Indira Gandhi National Center for the Arts (IGNCA).

An Overview of the News

• The event was organised in collaboration with Sri Guru Gobind Singh Tricentenary University and Sanchara Foundation.

• The 'Vigyan Vaibhav' portaldeveloped by IGNCA was launched during the event.

• This portal is dedicated to seventy five Indian scientists.

• Minister of State for Culture and External Affairs Meenakshi Lekhi inaugurated the portal.

• The event included special cultural performances such as Rabindra Sangeet and a cultural presentation.

IGNCA:

• It is a major government-funded arts organisation in New Delhi, India.

• It is an autonomous institute under the Union Ministry of Culture.

• It was launched on 19 November 1985 by Prime Minister Rajiv Gandhi.

• Indira Gandhi National Center for the Arts was formed and registered on 24 March 1987 in New Delhi.

Ruskin Bond wrote a new book titled 'The Golden Years'

Tags: Books and Authors

Indian author Ruskin Bond wrote a book titled "The Golden Years: The Many Joys of Living a Good Long Life".

An Overview of the News

• The Golden Years book is published by HarperCollins India and released on 19 May 2023, Bond's 89th birthday.

• "The Golden Years" focuses on Bond's experiences during the 60s, 70s and 80s.

About Ruskin Bond

• He was born on 19 May 1934 in Kasauli, Punjab States Agency, British India.

• His first book, "The Room on the Roof", was written when he was 17 and featured the semi-autobiographical character Rusty.

• In 1992, Bond received the Sahitya Akademi Award for his work "Our Tree Still Grows in Dehra".

• He was awarded the Padma Shri in 1999 and the Padma Bhushan in 2014 for his contribution to literature and education.

World AIDS Vaccine Day - 18 May

Tags: Important Days

World AIDS Vaccine Day is observed on 18 May and it emphasises the importance of making a vaccine for HIV, an incurable disease.

An Overview of the News

• World AIDS Vaccine Day is also known as HIV Vaccine Awareness Day.

• Pays tribute to the scientists and researchers working on the HIV/AIDS vaccine and raises awareness.

• According to the World Health Organisation, HIV has killed 40.1 million people globally.

History of World AIDS Vaccine Day:

• On May 18, 1997, former US President Bill Clinton gave a speech at Morgan State University in Maryland.

• President Clinton stressed the importance of a highly effective HIV vaccine to combat and eliminate HIV transmission.

• In honour of President Clinton's speech, May 18 was designated as World AIDS Vaccine Day.

• The first event of World AIDS Vaccine Day was held in 1998.

About HIV Infection

• HIV weakens the immune system and can lead to AIDS.

• Antiretroviral therapy (ART) is an effective treatment and prevention method for HIV.

World Health Organization:

Establishment - 7 April 1948

Head - Dr. Tedros Adhanom Ghebreyesus

Headquarters - Geneva, Switzerland

International Museum Day 2023- 18 May

Tags: Important Days

International Museum Day (IMD) is an annual international event organised by the International Council of Museums (ICOM) on 18 May.

An Overview of the News

• Each year, IMD focuses on a different theme that reflects a relevant issue or theme affecting museums globally.

• The theme for this year 2023 is Museums, Sustainability and Wellbeing.

• IMD aims to raise public awareness of the important role museums play in the development of society.

• The day encourages dialogue and exchange of ideas among museum professionals.

• The first International Museum Day was organised by the International Council of Museums (ICOM) in 1977.

• The adoption of an annual theme for the IMD began in 1992.

IMD's previous years' themes include:

• 2022: The Power of Museums

• 2021: The Future of Museums: Recover and Reimagine

• 2020: Museum for Equality: Diversity and Inclusion

UK announces sanctions on Russian diamonds and metals ahead of the G7 meeting in Japan

Tags: International News

The United Kingdom has announced sanctions on the military-industrial complex and metals as well as Russian diamonds in a new round of sanctions ahead of the G7 meeting in Japan.

An Overview of the News

• The ban specifically covers imports of copper, aluminium and nickel of Russian origin.

• In addition to trade sanctions, the UK is targeting 86 members of Russia's military-industrial complex and individuals involved in key industries such as energy, metals and shipping.

• The UK government aims to crack down on sanctions violations and target those who aid the Kremlin in undermining the effect of existing sanctions.

About G7

• It is an intergovernmental political forum.

• It consists of seven member states: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

• In addition to the seven member states, the European Union is also part of the G7 as a non-enumerated member.

Formation - 25 March 1973

First G6 Summit - 15 November 1975

United Kingdom:

• It is an island nation located in northwestern Europe. It consists of four countries: England, Scotland, Wales and Northern Ireland.

Capital - London

Prime Minister - Rishi Sunak

Emperor - Charles III