Daily Current Affairs 01st June 2023

2. Ajay Yadav takes charge as MD of SECI

• Ajay Yadav has assumed charge of Managing Director of Solar Energy Corporation of India Limited (SECI). SECI is a nodal agency of the central government for auctioning renewable energy projects.
• SECI, a Miniratna Category-I Central Public Sector Enterprise (CPSE) established in 2011, serves as the primary implementing agency for renewable energy schemes and projects under the Ministry of New and Renewable Energy, Government of India.

3. GoI appoints Ashwani Kumar as MD of UCO Bank

• The government has appointed Ashwani Kumar as managing director of UCO Bank in place of Soma Sankara Prasad whose terms comes to an end. Kumar is currently an executive director of Indian Bank and prior to this, he served as Chief General Manager of Punjab National Bank.
• The central government appoints Ashwani Kumar as managing director and chief executive officer in UCO Bank for a period of three years, the Finance Ministry said in a notification. The appointment comes into effect from the date of assumption of office on or after June 1, 2023 or until further orders.

                                     Banking News

4. Razorpay Launches ‘Turbo UPI’ for Seamless One-Step Payments to Online Merchants

• Razorpay, a leading fintech unicorn, has introduced ‘Turbo UPI,’ a revolutionary one-step payment solution for the Unified Payments Interface (UPI) network.
• In collaboration with the National Payments Corporation of India (NPCI) and Axis Bank, Razorpay aims to streamline the payment process for users, allowing them to make payments directly without being redirected to a third-party UPI app during checkout.                  

                                   Business News

5. Government Plans to Sell up to 3% Stake in Coal India

• The Indian government has announced its intention to sell up to a 3% stake in Coal India Ltd through the offer for sale (OFS) route, according to a recent regulatory filing.
• The OFS will be open for both retail and non-retail investors on June 1 and 2, offering an opportunity to participate in the sale of shares in the renowned coal producer.

                                    Economy News

6. India’s GDP Growth Accelerates to 6.1% in Q4 2022-23, Propelling Economy to $3.3 Trillion

• India’s economy showcased significant growth in the January-March quarter of 2022-23, with a GDP growth rate of 6.1%.
• This surge, primarily driven by improved performance in agriculture, manufacturing, mining, and construction sectors, contributed to an annual growth rate of 7.2%.
• The robust growth propelled the Indian economy to reach $3.3 trillion and sets the stage for achieving the ambitious $5 trillion target in the coming years.

7. Centre Meets FY23 Fiscal Deficit Target of 6.4% of GDP

• The Union government has successfully achieved its fiscal deficit target of 6.4% of the gross domestic product (GDP) for the financial year 2022-23.
• Despite higher revenue expenditure, particularly on subsidies and interest payments, the government’s robust tax revenue contributed to this achievement, as per official data released.
• This accomplishment aligns with the fiscal glide path outlined by Finance Minister Nirmala Sitharaman in the Union Budget for FY24.

                                      Schemes News

8. India Approves World’s Largest Food Storage Scheme in Cooperative Sector, Investing Rs 1 Lakh Crore

• The Indian government has recently approved a groundbreaking scheme worth Rs 1 lakh crore aimed at significantly expanding the foodgrain storage capacity in the cooperative sector.
• With the current grain storage capacity at approximately 1,450 lakh tonnes, this initiative seeks to add 700 lakh tonnes of storage over the next five years, eventually reaching a total capacity of 2,150 lakh tonnes.
• Information and Broadcasting Minister Anurag Singh Thakur has hailed this scheme as the “world’s largest foodgrain storage programme” in the cooperative sector.

9. Ayushman Bharat Pradhan Mantri Jan Arogya Yojana: Revolutionizing Healthcare Access in India

• The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) has achieved a significant milestone with 5 crore hospital admissions, totaling 61,501 crore rupees.
• The Ministry of Health and Family Welfare stated that so far, more than 23 crore beneficiaries have been verified and issued Ayushman Cards, which enable them to receive free treatment at the network of PM-JAY empaneled hospitals.
• This network comprises 28,351 hospitals, including 12,824 private hospitals, across the country.

                           Summits and Conferences News

10. India-EU Connectivity Conference to be organized in Meghalaya from June 1

• The India-EU Connectivity Conference, organized jointly by the Ministry of External Affairs (MEA), EU Delegation to India, and the Asian Confluence, is set to take place in Meghalaya from June 1 to June 2.
• The conference aims to explore opportunities for enhancing connectivity investments in India’s North Eastern States and its neighboring countries, including Nepal, Bhutan, and Bangladesh.
• The event is a significant outcome of the India-EU Connectivity partnership launched during the India-EU Leaders’ Meeting in May 2021.

11. BRICS foreign ministers’ meeting starts in Cape Town, local currency trade likely on agenda

• The foreign ministers of Brazil, Russia, India, China, and South Africa (BRICS) have gathered in Cape Town for a two-day meeting to discuss various issues, including local currency trading and a peace plan for the ongoing conflict between Russia and Ukraine.
• The meeting, hosted by South Africa, will pave the way for the 15th BRICS Summit scheduled to take place in August, which will bring together leaders from the member countries, including Prime Minister Narendra Modi, Russian President Vladimir Putin, and Chinese President Xi Jinping.

                                    Important Days

12. Global Day of Parents 2023: Date, Significance and History

• The Global Day of Parents is a special observance that recognizes the critical role parents play in the lives of their children and the well-being of society as a whole. Celebrated on June 1st each year, this day serves as an opportunity to honour and appreciate the dedication, love, and sacrifices of parents worldwide.
• The day emphasizes the importance of parental guidance in shaping the lives of children and promoting their overall well-being. It serves as an opportunity to appreciate parents’ efforts and to raise awareness about the challenges they face in fulfilling their responsibilities.

13. World Milk Day 2023: Know Date, Theme, Significance and History

• World Milk Day, observed every year on 1st June, was created in the year 2001 by Food and Agriculture Organisation (FAO) of the United Nations (UN) to promote the consumption and benefits of milk around the world.
• The goal of this day is to provide us with a chance to raise awareness of and support in any manner possible initiatives related to the dairy industry.
• According to worldmilkday.org, the theme of World Milk Day 2023 is “Showcasing how dairy is reducing its environmental footprint, while also providing nutritious foods and livelihoods.”

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14. Noted Sanskrit scholar Ved Kumari Ghai passes away

• Sanskrit scholar Ved Kumari Ghai passed away at the age of 91. She was born in Jammu City, Jammu and Kashmir, in 1931. She did her MA and PhD in Sanskrit from the University of Jammu.
• She also studied at the Banaras Hindu University and the University of Oxford. Ghai was a prolific scholar and author of several books on Sanskrit literature.
• She started her career as a professor of Sanskrit at Government College for Women, Parade, Jammu.