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Daily Current Affairs – 11 & 12 April 2023

This post contains the current affairs for 11 & 12 April 2023. These current affairs are important for banking exams, insurance exams and other competitive exams like IBPS PO and Clerk, SBI PO and Clerk, RBI Assistant and Grade B, etc. You can also attempt our Current Affairs Quiz after reading our daily current affairs.

National

Competition (Amendment) Bill, 2023 gets President’s assent

The bill to amend the Competition Act has received the assent of President Droupadi Murmu. The bill was cleared by Parliament on April 3, 2023.
The Competition (Amendment) Act, 2023 is an act to further amend the Competition Act, 2002.
The legislation for the Competition Act was brought in 2002 and subsequently, it underwent amendments in 2007 and 2009.
This is the first time since the enforcement of the Competition Act in 2009 that amendments are being made to the Act.
Whats there in the updated legislation?
- It ensures regulatory certainty and fosters a trust-based business environment.
- It provides for faster timelines for approval of M&A filings.
- It introduces settlement and commitment framework for faster market correction.
- It incentivises parties in an ongoing cartel investigation in terms of lesser penalty to disclose information regarding other cartels.
- It provides certainty to stakeholders by prescribing limitation period of three years for filing information on anti-competitive agreements and abuse of dominant position.
- It also introduces “value of transaction” as another criteria for notifying mergers and acquisitions to CCI.

UIDAI joins hand with IIT Bombay to develop touchless biometric capture system for fingerprints

The Unique Identification Authority of India (UIDAI) has signed an MoU with the Indian Institute of Technology, Bombay (IIT-Bombay) to develop a robust touchless biometric capture system for easier usage by people anytime, anywhere.
Under this collaboration, the UIDAI and IIT Bombay will carry out joint research to build a mobile capture system for fingerprints along with liveness model integrated with the capture system.
The touchless biometric capture system will allow fingerprint authentication from home similar to face authentication.

Arvind Kejriwal led AAP Party Gets National Party Status

The Election Commission of India (ECI) has granted national party status to Arvind Kejriwal-led Aam Aadmi Party (AAP).
The AAP party has been named as a national party based on its electoral performance in four states namely Delhi, Goa, Punjab and Gujarat.
Currently, the Arvind Kejriwal-led party is in power in Delhi and Punjab.
Apart from this, the commission has revoked the national party status of Trinamool Congress , CPI, and Nationalist Congress Party (NCP).
Now, the national political parties recognised in India will be the BJP, Congress, CPI(M), Bahujan Samaj Party (BSP), National People’s Party (NPP) and the AAP.

PM Modi flags off India’s 15th and Rajasthan’s first Vande Bharat Express Train

Prime Minister Narendra Modi flagged off the first Vande Bharat Express train of Rajasthan on April 04, 2023, via videoconferencing.
This Vande Bharat Express train is world’s first semi-high speed passenger train on high rise overhead electric (OHE) territory.
It will operate between Ajmer and Delhi Cantt, with stops at Jaipur, Alwar and Gurgaon.
This was India’s 15th Vande Bharat Express train.

India’s first semi high-speed regional rail services in NCR named ‘RAPIDX’

The National Capital Region Transport Corporation (NCRTC), has named India’s first semi-high-speed regional rail services as ‘RAPIDX’, which will run on the Regional Rapid Transit System (RRTS) corridors.
RAPIDX is being implemented by NCRTC to connect key urban nodes across the National Capital Region (NCR).
RAPIDX signifies speed and progress, while the letter X denotes next generation technology and the new-age mobility solution. It also represents youth, optimism, and energy.
The overall aim of launching this brand is decarbonisation, which means decongesting NCR by reducing the number of vehicles on the road and by the use of green energy.

Banking & Economy

RBI issues framework for acceptance of green deposits by Regulated Entities

The Reserve Bank of India (RBI) has announced the framework for the acceptance of green deposits of regulated entities (RE).
The framework will come into effect from June 1, 2023.
The green deposits will be denominated in Indian rupees only.
These instructions are applicable for all scheduled commercial banks, including small finance banks, and on all deposit-taking non-banking financial companies (NBFCs) registered with the RBI, including housing finance companies.
The aim of Green Deposit framework is to encourage regulated entities (REs) to offer green deposits to customers to foster and develop a green finance ecosystem in the country.
Read more here

IMF Projects India’s GDP at 5.9% for FY24 & 6.3% in FY25

The latest World Economic Outlook Report by the International Monetary Fund (IMF) has lowered India’s growth projection for 2023-24 (FY24) to 5.9 percent from 6.1 percent projected earlier.
- For 2024-2025 (FY25) – 6.3 percent
- For 2023-2024 (FY24) – 5.9 percent
- For 2022-23 (FY23) – 6.8 percent
In case of global economy, the projection are as follows:
- 2022 – 3.4 percent
- 2023 – 2.8 percent
- 2024 – 3.0 percent

Appointments

K Krithivasan to take over as new MD & CEO of TCS from June 1

Tata Consultancy Services (TCS) has appointed K Krithivasan as its new Chief Executive Officer (CEO) and Managing Director of the company.
He will take over the post with effect from June 01, 2023 for a tenure of five years.
Krithivasan will replace outgoing CEO Rajesh Gopinathan, who was appointed in 2017.

Anshuman Singhania appointed as new Chairman of ATMA

Anshuman Singhania, the Managing Director of JK Tyre & Industries Ltd has been elected as the new Chairman of Automotive Tyre Manufacturers’ Association (ATMA).
ATMA is the national industry body for the automotive tyre sector in India.
Apart from this, Arnab Banerjee, the Managing Director & CEO of CEAT Ltd, has taken over as Vice-Chairman of ATMA.

NPCI appoints Vishal Kanvaty as CTO

The National Payments Corporation of India (NPCI) has roped in Vishal Kanvaty as Chief Technology Officer (CTO).
Kanvaty joined NPCI in 2017. Prior to this he managed the portfolio of Chief Market Innovation as well as Product and Innovations profiles.

Sports

India’s D Gukesh beats Uzbekistan’s Nodirbek Abdusattorov to win World Chess Armageddon Asia & Oceania

India’s teen Chess Grandmaster D Gukesh defeated former world rapid champion Nodirbek Abdusattorov of Uzbekistan in the final to win the World Chess Armageddon Asia & Oceania, organized by World Chess.
The 16-year-old D Gukesh won the Asia & Oceania event in the Armageddon Championship Series 2023.
With this dramatic win, he has secured a spot in the Grand Finale of Armageddon, to be held in September. Long with him, the tournament’s runner-up, Nodirbek Abdusattorov has also earned a place for Finale.

Obituary

Former Mahindra & Mahindra Chairman Keshub Mahindra passes away at 99

India’s oldest billionaire and the former Chairman of Mahindra and Mahindra Group, Keshub Mahindra has passed away. He was 99.
Keshub Mahindra served as the chairman of the Mumbai-based conglomerate from 1963 to 2012.
With a net worth of $1.2 billion, he was among 169 Indian billionaires who made the coveted list in 2023.
The Mahindra company was co-founded by his father, J C Mahindra, in 1945. Keshub joined the company in 1947 and assumed the role of Chairman in 1963.

Days

World Parkinson’s Day 2022: 11 April

Every year, April 11 is observed as World Parkinson’s Day to raise awareness of Parkinson’s disease, which is a progressive nervous system disorder.
Theme 2023 is #Take6forPD.
The day marks the birthday of Dr James Parkinson from London, who was the first person to systematically described the six individuals with the symptoms of Parkinson Disease.
Additionally, the month of April is observed as the Parkinson’s Awareness Month.

National Safe Motherhood Day 2022: 11 April

In India, the National Safe Motherhood Day is observed every year on April 11 to raise awareness about adequate access to care for women during pregnancy, childbirth and postnatal services.
2023 Theme: Motherhood is a blessing from God
India is the first country in the world to officially declare National Safe Motherhood Day
The day commemorates the birth anniversary of Kasturba Gandhi, the wife of the father of Nation Mohan Das Karam Chand Gandhi.
In 2003, upon the initiative of the White Ribbon Alliance India (WRAI), the Government of India declared the national safe motherhood day to be held on April 11.
2023 marks the 20th anniversary of the day. The first observation was held in 2003.

International Day of Human Space Flight 2023: 12 April

The International Day of Human Space Flight is celebrated annually on April 12 to mark the anniversary of the first human space flight by Yuri Gagarin on April 12, 1961.
The day was proclaimed at the 65th session of the United Nations General Assembly on April 7, 2011, a few days before the 50th anniversary of the flight.
In Soviet Union, the day is observed as International Day of Aviation and Cosmonautics.

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