1. ISRO to launch Chandrayaan-3 in July this year
Tags: Science and Technology National News
ISRO Chairman S Somnath has announced that Chandrayaan-3, the successor of Chandrayaan-2, will be launched in July this year.
An Overview of the News
The announcement was made after the successful launch of second generation navigation satellite NSV-01 from the Satish Dhawan Space Center in Sriharikota.
The primary objective of Chandrayaan-3 is to demonstrate India's end-to-end capabilities in lunar exploration and its ability to safely land on and orbit the Moon.
The mission will consist of an indigenous lander module, a propulsion module and a rover.
Both the lander and the rover will be equipped with scientific payloads, which will enable them to conduct experiments and collect valuable data on the lunar surface.
Important Points
Chandrayaan-1:
It was the first Indian lunar probe launched by ISRO.
It was part of the Chandrayaan program and was launched in October 2008 and the mission lasted till August 2009.
Chandrayaan-1 consisted of a Lunar Orbiter and an Impactor.
The Lunar Orbiter conducted scientific research and collected data about the Moon.
The objective of the mission was to make a detailed map of the Moon's surface and study its composition.
Chandrayaan-1 had advanced instruments to test the presence of water ice and minerals.
The spacecraft carried both Indian and international scientific payloads.
Chandrayaan-1 made important discoveries including evidence of water molecules on the lunar surface.
Chandrayaan-2:
India's second lunar exploration mission developed by ISRO.
Components: Lunar Orbiter, Vikram Lander and Pragyan Rover.
Scientific Objective: Study the composition of the lunar surface and find lunar water.
Launch: July 22, 2019, from Satish Dhawan Space Centre.
Landing Site: Intended for the south polar region of the Moon at a latitude of 70°S.
Planned Landing Date: September 6, 2019
Landing Result: The lander crashed due to a software glitch.
Indian Space Research Organization (ISRO):
It was established on 15 August 1969.
It is the national space agency of India. It launches its space rocket from Satish Dhawan Space Center in Sriharikota, Andhra Pradesh.
Headquarters: Bengaluru
Chairman: S Somnath
2. India gets approval to set up second hydroelectric project in Nepal
Tags: International News
The Government of Nepal has approved India's Sutlej Jal Vidyut Nigam Limited (SJVN) to develop the second hydroelectric project in the country.
An Overview of the News
- SJVN is currently involved in the development of the Arun-III Hydroelectric Project in eastern Nepal with a capacity of 900 MW.
- The Investment Board Nepal (IBN), chaired by Prime Minister Pushpa Kamal Dahal, approved the draft Project Development Agreement (PDA) between Nepal and SJVN.
- The PDA is for development of the Lower Arun Hydroelectric Project in eastern Nepal with a capacity of 669 MW.
- The Lower Arun Hydroelectric Project is to be developed by SJVN.
About Nepal
- The kingdom of Nepal was established by the Shah dynasty.
- It is a landlocked country in South Asia.
Prime Minister - Pushpa Kamal Dahal Prachanda
President - Ram Chandra Paudel
Capital - Kathmandu
Currency - Nepalese Rupee
3. Ireland becomes first country to introduce comprehensive health labelling of alcohol products
Tags: International News
Ireland has become the first country in the European Union to implement comprehensive health labelling on alcohol products.
An Overview of the News
- Its purpose is to provide information to consumers about the health risks associated with the consumption of alcohol.
- The Public Health (Alcohol) (Labelling) Regulations 2023 and the remaining provisions of the Public Health (Alcohol) Act of Ireland were signed into law by Stephen Donnelly, Minister for Health, on 22 May 2023.
- Regulations require alcohol product labels in Ireland to include key information such as calorie content and grams of alcohol.
- The labels will prominently display warnings about the risks of alcohol consumption during pregnancy, as well as the dangers of liver disease and alcohol-related cancers.
- The introduction of comprehensive labelling enables consumers to make informed decisions about their alcohol consumption.
World Health Organization (WHO)
- The World Health Organization is a specialised agency of the United Nations that was established on April 7, 1948.
- Every year 7th April is celebrated as "World Health Day".
Headquarters - Geneva, Switzerland
Director General - Tedros Adhanom Ghebreyesus of Ethiopia
4. Patna becomes first municipal corporation to use CBDC
Tags: National News
Patna Municipal Corporation in Bihar, India, has become the first municipal corporation in the country to adopt Central Bank Digital Currency (CBDC).
An Overview of the News
- The digital currency called e-Rupee generated by the Reserve Bank of India (RBI) will be used in the entire Patna Municipal Corporation area.
- The launch event took place on May 23, 2023 with the participation of the Mayor, Deputy Mayor and Municipal Commissioner of Patna Municipal Corporation.
- The implementation of the CBDC will start from the municipal headquarters in the Maurya Lok complex, and later extend to all regional offices and payment counters within the corporation.
- A workshop was organised for the corporators to educate them about the benefits and applications of digital e-Rupee currency.
- The online payment system will contribute to augmenting the revenue of Patna Municipal Corporation, as well as provide convenient facilities to individuals to make payments from the comfort of their homes.
- Central bank digital currency (CBDC) differs from private digital currencies, such as cryptocurrencies, in that it is government-issued currency and represents a liability of the central bank.
About Reserve Bank of India
- RBI was established on April 1, 1935 as per the provisions of the Reserve Bank of India Act, 1934.
- It started functioning from 1 April 1935 and Sir Osborne Smith was made the first Governor of RBI.
- The central office of the Reserve Bank was established in Kolkata which was permanently shifted to Mumbai in the year 1937.
- It was nationalised in 1949 and now the Government of India owns the RBI.
- It has the power to regulate banks under the Banking Regulation Act 1949.
- It has the power to regulate Non-Banking Financial Company (NBFC) under the RBI Act 1934.
- RBI is also the regulator of digital payment systems under the Payment and Settlement Act 2007.
- Before independence till 1942 RBI used to issue currency not only for India but also for Myanmar which was then known as Burma. However, it was discontinued after 1947.
Headquarters of RBI: Mumbai
RBI Governor: Shaktikanta Das
5. The new Parliament House was inaugurated by the Prime Minister
Tags: National News
On May 28, 2023, Prime Minister Narendra Modi officially inaugurated the new Parliament House.
An Overview of the News
- The New Parliament House is located in the Central Vista area of New Delhi.
- It has been designed to accommodate the growing size and needs of the Indian Parliament.
- The building has seating arrangements for 888 members of the Lok Sabha and 384 members of the Rajya Sabha.
- It also includes six committee rooms equipped with state-of-the-art audio-visual systems.
- Covering an area of approximately 65,000 square metres, the new building has a triangular shape to optimise space utilisation.
- It is a four storied building constructed at an estimated cost of Rs 970 crore.
- The building was designed by Ahmedabad-based HCP Design, Planning and Management and constructed by Tata Projects Limited.
- Prime Minister Narendra Modi also installed "Sengol" in a dedicated enclosure to the right of the Speaker's chair in the Lok Sabha chamber.
About Sengol:
- Sengol is made of silver and gold.
- It is a five feet long sceptre which was given by Lord Mountbatten to Pandit Jawaharlal Nehru on August 14, 1947 as a symbol of the transfer of power.
- Sengol is a symbol of rule in the Tamil kingdoms of the past.
- It was earlier displayed in the Allahabad Museum.
6. Defense Minister Rajnath Singh's visit to Nigeria
Tags: International News
Union Defense Minister Rajnath Singh left for a three-day (May 28 to 30, 2023) official visit to the West African country of Nigeria.
An Overview of the News:
- Rajnath Singh will attend the swearing-in ceremony of newly elected President Bola Ahmed Tinubu at Eagle Square in Abuja on May 29.
- He will also meet outgoing Nigerian President Muhammadu Buhari during a reception hosted for him on May 28.
- This is the first visit by an Indian Defense Minister to Nigeria.
- There are about 50,000 Indian communities in Nigeria. During the visit, the Raksha Mantri will also address the Indian diaspora in Abuja.
- He will hold meetings with representatives of Nigerian industry and the armed forces to identify equipment and platforms through which the Indian defense industry can support the needs of that country.
- This visit of the Indian Defense Minister will prove to be an important milestone in building strong bonds of friendship between the two countries.
Nigeria :
- President: Muhammadu Buhari
- Capital: Abuja
- Currency: Nigerian naira
7. Jayakumar S Pillai appointed as Deputy Managing Director of IDBI Bank
Tags: National News
Jayakumar S Pillai was appointed as the Deputy Managing Director of IDBI Bank.
An Overview of the News
- His appointment was announced by IDBI Bank through an official filing and the appointment was approved by the bank's board of directors.
- The appointment is valid for a period of three years from the date of his assumption of charge.
- The appointment has been authorised by the Reserve Bank of India (RBI).
- As Deputy Managing Director, Jayakumar S. Pillai will be involved in strategic decision making, overall management and operations.
IDBI Bank:
- Ltd. is a development finance institution owned by the Life Insurance Corporation of India and the Government of India.
- It was established in 1964 as the Industrial Development Bank of India with a focus on providing financial services to the industrial sector.
- The bank provides commercial banking, corporate banking, retail banking, treasury operations and investment banking services.
- LIC's ownership in IDBI Bank allows opportunities for collaboration and cross-selling between banking and insurance services.
- IDBI Bank operates under the regulations of regulatory bodies like RBI, SEBI and IRDAI.
Headquarters - Mumbai
About Reserve Bank of India
- RBI was established on April 1, 1935 as per the provisions of the Reserve Bank of India Act, 1934.
- It started functioning from 1 April 1935.
- Sir Osborne Smith was made the first Governor of RBI.
- The central office of the Reserve Bank was established in Kolkata which was permanently shifted to Mumbai in the year 1937.
- It has the power to regulate banks under the Banking Regulation Act 1949.
- It has the power to regulate Non-Banking Financial Company (NBFC) under the RBI Act 1934.
- RBI is also the regulator of digital payment systems under the Payment and Settlement Act 2007.
Headquarters - Mumbai
Governor - Shaktikanta Das
8. Mumbai-based Maratha Bank merged with Cosmos Bank
Tags: National News
The Reserve Bank of India approved the merger between Maratha Cooperative Bank and Cosmos Cooperative Bank.
An Overview of the News
- The merger is a voluntary scheme of amalgamation and the merger will be effective from May 29, 2023.
- Maratha Sahakari Bank is subject to regulatory directions by RBI with effect from August 31, 2016.
- The merger has been approved under the authority of the Banking Regulation Act, 1949.
- Maratha Sahakari Bank has seven branches in Mumbai and was established in 1946.
- The Reserve Bank of India closely monitored and regulated the operations of the Maratha Cooperative Bank.
- The merger with Cosmos Co-operative Bank is aimed at ensuring the stability and continuity of services of Maratha Sahakari Bank.
About Reserve Bank of India
- RBI was established on April 1, 1935 as per the provisions of the Reserve Bank of India Act, 1934.
- It started functioning from 1 April 1935.
- Sir Osborne Smith was made the first Governor of RBI.
- The central office of the Reserve Bank was established in Kolkata which was permanently shifted to Mumbai in the year 1937.
- It has the power to regulate banks under the Banking Regulation Act 1949.
- It has the power to regulate Non-Banking Financial Company (NBFC) under the RBI Act 1934.
- RBI is also the regulator of digital payment systems under the Payment and Settlement Act 2007.
Headquarters - Mumbai
Governor - Shaktikanta Das
9. PM Modi chairs the 8th meeting of the NITI Aayog Governing Council
Tags: National News
The eighth meeting of the Governing Council of NITI Aayog was held at the New Convention Center at Pragati Maidan, New Delhi.
An Overview of the News
- The meeting is focused on the theme of "Growth India @ 2047: Role of Team India".
- Prime Minister Narendra Modi is presiding over the meeting as the Chairman of NITI Aayog.
- Several key topics will be covered at the meeting, including:
- Thrust on MSMEs (Micro, Small, and Medium Enterprises)
- Infrastructure and Investments
- Minimising Compliances
- Women Empowerment
- Health and Nutrition
- Skill Development
- Gati Shakti for area development and social infrastructure.
About NITI Aayog
- NITI Aayog is the premier policy think tank of the Government of India.
- The Government of India formed the NITI Aayog in place of the Planning Commission, which was established in 1950.
- This step has been taken to better meet the needs and aspirations of the people.
Ministry of Micro, Small and Medium Enterprises:
- It is the apex executive body for MSMEs in India.
- It formulates and administers rules, regulations and laws relating to micro, small and medium enterprises.
- It formulates policies to address the challenges faced by MSMEs, including access to finance, technology, market opportunities, skill development and infrastructure support.
10. World Meteorological Congress approves a global tracker for greenhouse gas emissions
Tags: International News
According to the World Meteorological Organization (WMO), the World Meteorological Congress approved a new greenhouse gas (GHG) monitoring initiative.
An Overview of the News
- The initiative aims to support urgent action in reducing heat-trapping gases that contribute to global temperature rise.
- The newly established Global Greenhouse Gas Watch integrates observational systems, modelling capabilities and data assimilation.
- The initiative addresses critical information gaps in GHG monitoring.
- The unanimous support of the 193 members of the WMO highlights the importance of greenhouse gas monitoring.
- The initiative strengthens the scientific basis for climate change mitigation efforts.
World Meteorological Organization (WMO)
- It was established in 1873 by the International Meteorological Organization.
- Headquarters – Geneva, Switzerland
- On March 23, 1950, the World Meteorological Organization became a specialised organisation of the United Nations.
- This organisation uses the latest information on meteorology, climatology, hydrology and related geophysical research to contribute to the safety and welfare of society.
About Greenhouse Gases
- Greenhouse gas definition: A greenhouse gas absorbs and emits thermal infrared radiation, causing the greenhouse effect.
- Primary Greenhouse Gases: The main greenhouse gases in the Earth's atmosphere are water vapour, carbon dioxide, methane, nitrous oxide, and ozone.
- Water vapour: It is the most abundant greenhouse gas and contributes to the natural greenhouse effect.
- Carbon Dioxide (CO2): Released by human activities such as burning of fossil fuels and deforestation, it is a major cause of global warming.
- Methane (CH4): Produced during coal, oil and gas production as well as livestock farming, it is a potent greenhouse gas.
- Nitrous Oxide (N2O): Emitted from agricultural and industrial activities, it contributes to both global warming and ozone depletion.
- Ozone (O3): While beneficial in the stratosphere, at lower levels, it acts as a greenhouse gas.
