Daily Current Affairs May 27 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

RBI economic activity index nowcast Q1 GDP growth forecast at 7.6%

• The Reserve Bank of India (RBI) has announced its economic activity index (EAI) nowcast, forecasting a strong Gross Domestic Product (GDP) growth rate of 7.6% for the first quarter of the fiscal year 2023-2024 (Q1 FY24).
• This is against real GDP growth of 7.8% projected in the April 2023 Bi-monthly Monetary Policy Statement.

Key Highlights :

• The nowcast GDP growth is based on partial data available for April 2023.
• The nowcast GDP growth is based on assuming an implied GDP growth of 5.1% for Q4 (January-March) FY23.
• The index of supply chain pressure for India (ISPI) remained at levels below historical average since July 2022.
• GDP growth in the first quarter of FY24 will be driven by private consumption.
• It will be supported by revival in rural demand.
• Domestic service sector activity will be led by the rebound in contact-intensive services.
• It will be led by resilience in construction activity.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy governors : Mahesh Kumar Jain, M. Rajeshwar Rao, Michael Patra and T. Rabi Shankar

SBI General launches Surety Bond Bima insurance product for infrastructure projects

• SBI General Insurance, the non-life insurance arm of India’s largest lender State Bank of India (SBI), has announced the launch of the General Surety Bond Bima (Conditional & Unconditional) insurance product.
• The Surety Bond Insurance will act as a security arrangement for infrastructure projects and will insure the contractor as well as the principal (contract awarding authority).
• The product is designed to provide protection against breach of terms and conditions by the contractors either during the bidding stage or during the performance stage of a project.

Key Highlights :

• The Surety Insurance product consists of a wide range of bonds, such as Bid bonds, Advance Payment bond, Performance bond, and Retention Money bond.
• The product caters to the requirements of a diversified group of contractors.
• Additionally, there are 2 variants available in the product i.e. Conditional & Unconditional.
• In Conditional bond, a specified sum is paid to the beneficiary upon claim when specific conditions are met, while an Unconditional bond allows the beneficiary to claim the money almost without any conditions.

What is Surety insurance?

• The Surety insurance provides an assurance to the project owner in the form of a Surety Bond that the contractor would complete the project as per the agreed terms and conditions.

About SBI General Insurance :

• Founded : 2009 (Started operations in 2010)
• Headquarters : Mumbai, Maharashtra India
• MD & CEO: Kishore Kumar Poludasu.
• Tagline : Suraksha aur Bharosa, dono’
• It is a joint venture (JV) between State Bank of India (SBI) and Insurance Australia Group (IAG)

Paytm Launches UPI SDK To Enable Users To Make UPI Payment Directly From Merchant App

• One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, announced that it has launched Paytm UPI SDK.
• This new feature allows customers of online merchants to make UPI payments directly and in-line from the merchant’s mobile app without getting redirected during checkout.
• The new feature will allow customers to pay directly from their bank accounts by entering their UPI PIN without leaving the merchant app.

Key Highlights :

• Paytm UPI SDK powered by the technology of Paytm Payments Bank and distributed to existing online merchants by Paytm Payments Services Ltd.
• With Paytm UPI SDK, customers can enjoy 4X faster UPI payments through a 5X reduction in the number of taps and a 100% elimination of any external redirection, where customers have to switch between merchant and payment apps to complete transactions.
• This is part of the existing UPI acquiring arrangement between Paytm Payments Services Ltd. and Paytm Payments Bank, under which Paytm Payments Services Ltd provides UPI acquisition service to merchants.
• This UPI SDK is an add-on feature under the same arrangement.
• Earlier, Payments platform Paytm launched a ‘next-generation’ UPI card with Rupay network.
• CEO of Paytm Payments Services : Nakul Jain

Japan expresses interest in joining India’s Unified Payments Interface system

• Japan’s Digital Minister Kono Taro has expressed keen interest in joining India’s Unified Payments System (UPI), referring to the ongoing digital cooperation between the two countries.

Objective of this initiative :

• To provide mutual recognition of e-IDs of both the countries and to expand digital transactions.
• Japan and India aim to promote digital cooperation by creating interoperability through real-time funds transfer systems to facilitate digital payments.
• Kono stated that UPI is a very convenient system of payment, where we can increase the interoperability of our payment system between Japan and India, or other countries like Singapore, Thailand.
• Apart from Singapore, Thailand and United Arab Emitraes (UAE), other countries that have shown interest in UPI include Bahrain, Mauritius and

About UPI :

• Unified Payments Interface is an instant real-time payment system which has been developed by the National Payments Corporation of India (NPCI).
• The interface facilitates inter-bank peer-to-peer (P2P) and person-to-merchant (P2M) transactions.
• It allows users to make fund transfers from their bank account.
• NPCI launched UPI with 21 member banks on 11th April 2016.

About Japan :

• Prime Minister : Fumio Kishida
• Capital : Tokyo
• Currency : Japanese yen

India requests for $55-million funding in first call with Pandemic Fund

• India made a funding request of approximately $55 million to the World Bank’s Pandemic Fund in its first call in May 2023.

Key Highlights :

• The Pandemic Fund was created in the aftermath of the Covid-19 pandemic by the World Bank to strengthen pandemic prevention, preparedness, and response capacities in low- and middle-income countries.
• India has requested funding from the World Bank’s Pandemic Fund to combat pandemics in both humans and
• Most zoonotic (animal-to-human and human-to-animal) diseases have been found to have their origins in animals, according to scientists.
• The fund’s website states that its governing board approved $300 million for the first tranche of funding to assist developing nations in better preparing for upcoming global pandemics.
• The United States and the European Union have pledged significant contributions, with total commitments exceeding $1.6 billion.
• To enhance global pandemic prevention, preparedness, and response capabilities among donor governments, recipient countries, foundations, and civil society organizations, this fund was established in September 2022.
• The World Bank serves as the trustee of the Pandemic Fund and hosts its Secretariat, which includes technical staff from the World Health Organization (WHO).

Paytm Money launches bonds platform & making investing easier for retail investors

• Paytm Money subsidiary of One97 Communications Limited (OCL) that owns the brand Paytm, has launched a bonds platform for retail investors in India.

What are Bonds?

• Bonds are a safe option for investors who are looking at a steady income and fixed returns on their investments and can diversify their portfolio for good returns.

Key Highlights :

• The platform enables investors to invest in government bonds, corporate bonds, and tax-free bonds, all in one place.
• Bonds on the Paytm Money app presents investors with all relevant information in one place and convert everything to yield so that investors can analyse and understand the returns they can earn
• The bonds platform on the Paytm Money app provides investors with comprehensive information, converting it into yield to help them analyse and understand potential returns.
• The bonds can be sold on the market at any time without any premature penalties or lock-ins, allowing investors to manage their investments flexibly.
• As a Securities and Exchange Board of India (SEBI)-registered broker, Paytm Money stated that it is leveraging the existing regulatory framework to innovate and bring a secure and transparent bond product to India.

About Paytm Money :

• CEO : Varun Sridhar
• Paytm Money Limited is a Securities and Exchange Board of India (SEBI) registered Investment Adviser (IA) that offers investment execution & advisory services.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Ireland to become first country in the world with Mandatory Health Warnings on Alcohol Products

• Ireland is set to become the first country to introduce mandatory health warnings on alcohol products.
• The new regulation has been signed by Health Minister Stephen Donnelly, which will take effect in three years (May 22, 2026).
• However, the labels will not be mandatory until May 2026.

Aim :

• To raise awareness about the potential health risks associated with alcohol consumption.
• Ireland will introduce mandatory health labelling of alcoholic beverages, with warnings regarding the risk of cancer, liver disease and drinking while pregnant.

Why these warnings?

• The introduction of health warnings on alcohol bottles and cans will serve as a powerful tool for public health promotion and education.
• It will also alert consumers to calorie and alcohol content.
• It will provide concise information about the health hazards linked to excessive alcohol consumption, encouraging individuals to make informed decisions.
• South Africa enacted a law requiring stringent alcohol warning labels in 2017, but repealed it in 2020.
• Other countries also have warnings on alcohol products, but Ireland’s regulations aim to be more comprehensive.

About Ireland :

• President : Michael D. Higgins
• Currency: Euro
• Capital: Dublin

CURRENT AFFAIRS: NATIONAL NEWS

Education Ministry discontinues 2 awards for Hindi writers

• The Union Education Ministry has decided to discontinue ‘Shiksha Puraskar’ and the ‘Hinditar Bhashi Hindi Lekhak Puraskar’.
• ‘Shiksha Puraskar’ was launched by the Central Government in 1992 to encourage original writings in Hindi.
• Five awards worth Rs 1 lakh are given every year under the ‘Shiksha Puraskar’.
• Writers from any part of India or publishers on their behalf may submit their books for this award.
• Books originally written in Hindi by Hindi and non-Hindi-speaking authors are considered for this award.
• The ‘Hinditar Bhashi Hindi Lekhak Puraskar’ was started to promote writings in Hindi by writers from non-Hindi-speaking areas.
• 19 awards of one lakh rupees every year are given under this award. Its main objective is to encourage Hindi writers from Hindi-speaking areas.

Shri Piyush Goel inaugurates Two-day National Workshop on NeVA

• Shri Piyush Goyal inaugurated the two-day National Workshop on National e-Vidhan Application (NeVA), organized by the Ministry of Parliamentary Affairs, New Delhi.
• It is being organized by Parliamentary Affairs Ministry for two days from 24 May 2023.
• The workshop focuses on encouraging all State and UT legislatures to move towards the NeVA platform.
• The workshop also focuses on encouraging all State and UT legislatures to bring transparency and responsiveness in the conduct of house business.
• So far, 21 State legislatures have signed Memorandum of Understanding (MoU) for the implementation of NeVA.
• The government has sanctioned the project for 17 legislatures and released funds to them for the implementation of the project.
• Out of them, 9 legislatures have already become fully digital and are live on the NeVA platform.

About NeVA

• NeVA is one of the 44 Mission Mode Projects under the “Digital India Programme” of the Government.
• It aims to make the functioning of all the State Legislatures paperless by transforming them into ‘Digital House’.
• The Ministry of Parliamentary Affairs is the nodal ministry for the implementation of NeVA.

India hands over 20 broad gauge locomotives to Bangladesh

• Indian Railways handed over 20 Broad Gauge (BG) locomotives to Bangladesh.
• Shri Ashwini Vaishnaw, Minister of Railways virtually flagged off locomotives to Bangladesh in a handing over ceremony held on 23rd May 2023 at Rail Bhavan, New Delhi.
• From the Bangladesh side, Minister of Railway, Md. Nurul Islam Sujan joined in virtually.
• Shri Ashwini Vaishnaw said that as of now, five Broad Gauge connectivity are operational between India and Bangladesh.
• They are Geda- Darsana, Benapol- Petrapol, Singhabad- Rohanpur, Radhikapur- Birol and Haldibari-Chilahati.
• Work on two more cross border rail connectivities (Akhaura-Agartala and Mahihasan-Shahbazpur) is likely to be completed shortly.
• In June 2020, Indian Government provided 10 locomotives to Bangladesh as grant.
• Presently three pairs of passenger trains between India and Bangladesh are running.
• They are Kolkata-Dhaka Maitree Express, Kolkata-Khulna Bandhan Express and New Jalpaiguri- Dhaka Mitali Express.

Prime Minister’s participation in the Quad Leaders’ Summit

• PM Modi took part in the 3rd in-person Quad Leaders’ Summit in Hiroshima, Japan
• Prime Minister Anthony Albanese of Australia, Prime Minister Fumio Kishida of Japan and President Joseph Biden of the United States of America also participated in the summit.
• Prime Minister Anthony Albanese of Australia hosted the summit, which was earlier scheduled to be held in Sydney, Australia.
• The leaders released Quad Leaders’ Vision Statement – Enduring Partners for the Indo-Pacific”.
• They announced Clean Energy Supply Chains Initiative.
• This initiative would facilitate R&D and support the Indo-Pacific’s energy transition.
• They also announced Quad Infrastructure Fellowships Programme.
• Partnership for Cable Connectivity and Resilience was also announced to leverage Quad’s collective expertise in the design, manufacturing, laying and maintenance of undersea cables
• They also announced Quad support for a small-scale ORAN deployment in Palau, the first in the Pacific region.
• Quad Investors’ Network has been launched. It is a private sector-led platform to facilitate investments in strategic technologies.
• They welcomed the progress of the Indo-Pacific Partnership for Maritime Domain Awareness. This was announced at the Summit held last year in Tokyo.
• PM Modi invited Quad Leaders to India for the next Quad Summit in 2024.

Bhupendra Yadav Inaugurates CoE on Sustainable Land Management at ICFRE in Dehradun

• Union Minister Bhupender Yadav inaugurated the Centre of Excellence on Sustainable Land Management at Indian Council of Forestry Research and Education in Dehradun.
• CoE-SLM’ s main aim is to promote South-South Cooperation and to address land degradation issues through sustainable land management practices.
• It will help in controlling land degradation and improving soil quality for sustainable development.
• It will facilitate the restoration of degraded land through technical support, capacity building, and Knowledge sharing.
• It will collaborate with developing countries that are party to the United Nations Convention to Combat Desertification (UNCCD).
• It will contribute to SDG.
• CoE-SLM has set several specific objectives including assessing land degradation, capacity building on sustainable land management frameworks aligned with the Sustainable Development Goals (SDGs), and strengthening the assessment, monitoring, and reporting of land-based indicators outlined by the UNCCD.
• This centre will set LDN targets, develop drought risk and early warning systems, and promote good governance of land tenure and rights.
• On this occasion, Shri Yadav also released two publications “Technical Paper on Pathway to achieve LDN in India” and “Compendium of Sustainable Land Management Practices”.

Home Minister Amit Shah inaugurates the newly built Janganana Bhawan

• Newly built Janganana Bhawan inaugurated by Home Minister Amit Shah in New Delhi.
• Home Minister also launched a web portal for birth and death registration.
• He also launched an upgraded SRS Mobile Application with Geofencing.
• In Geofencing, GPS technology is used to make a virtual geographic boundary and a software is enabled to trigger a response at the time a mobile device enters or leaves an area.
• He also launched a web portal for the online sale of Census Publications.
• He also released the Census compendium from 1981 to the upcoming Census.
• He said that Government will now undertake the census electronically.
• It will have over 35 parameters of socio-economic status.
• The foundation stone of Janganana Bhawan was laid in September 2019.

CURRENT AFFAIRS : STATE NEWS

Kerala Becomes India’s first fully e-governed state

• Kerala is set to declare itself India’s first “total e-governed state”, to its strides towards a knowledge-based society and economy, and 100% digital literacy.
• Kerala Chief minister (CM) Pinarayi Vijayan will make the declaration in Thiruvananthapuram.

Key Highlights :

• This unique achievement, which comes decades after Kerala became the first fully literate Indian state and began its quest to become a fully e-literate society, has been realised through a set of visionary policy initiatives of the government seeking to transform the state into a digitally empowered society
• The state has already achieved 100% digital literacy.
• The achievement would enable online delivery of a whole range of government services by leveraging state-of-the-art technology and platforms to build a single window service delivery mechanism called e-Sevanam which integrates more than 800 government services online
• The roll-out of KFON (Kerala Fibre Optic Network) will be a decisive step forward in this direction.
• Kerala stands out as the first Indian state to declare access to the internet as a citizen’s right.

Kerala Chief Minister Pinarayi Vijayan to open international labour conclave

• A three-day international labour conclave was inaugurated by Kerala Chief Minister Shri Pinarayi Vijayan.
• The conclave has been organised by the Labour department in association with the State Planning Board.
• Telangana Labor Minister Chamkura Malla Reddy, Bihar Labor Resources Minister Surendra Ram, and India head of the International Labor Organization (ILO) Satoshi Sasaki attended the inauguration.
• It will pave the way for new policies and changes in the labour sector in Kerala.
• About 150 people, including representatives of employers’ and employees’ organizations from across the country and abroad, experts from administrative and knowledge sectors and many more will participate in the three-day conclave.
• On the second day of the conclave, various topics will be discussed in 7 sessions.
• India is one of the founding members of the ILO and became a permanent member in 1922.

About Kerala :

• Governor : Arif Mohammad Khan
• Chief Minister : Pinarayi Vijayan
• Capital : Thiruvananthapuram
• National Park : Eravikulam National Park, Silent Valley National Park
• Wildlife Sanctuary : Chinnar Wildlife Sanctuary, Periyar Wildlife Sanctuary

Arunachal Pradesh’s Khadi and Village Industries Commission revives 1000-yrs old Handmade Paper-making art of Tawang

• The Khadi and Village Industries Commission (KVIC) played an important role in conserving and reviving the Handmade Paper-making art of Tawang, Arunachal Pradesh.
• The Monpa Handmade Paper of Arunachal Pradesh has been revived with the committed efforts of the KVIC.
• The Monpa Handmade Paper-making art originated over 1000 years ago and gradually became an integral part of the local customs and cultures in Tawang in Arunachal Pradesh.
• This handmade paper was the source of living for the local people of Tawang.
• This handmade paper has almost disappeared in the last 100 years.
• KVIC implemented its revival plan and this paper has become functional since 2020.

About KVIC :

• Founded : 1957
• Headquarters : Mumbai, Maharashtra
• Chairman : Manoj Kumar
• KVIC is a statutory body formed in April 1957 by the Government of India (GoI), under the Act of Parliament, ‘Khadi and Village Industries Commission Act of 1956’.
• It is an apex organisation under the Ministry of Micro, Small and Medium Enterprises

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

CURRENT AFFAIRS: RANKING AND INDEX

World’s ‘most miserable’ countries list 2022 has been released

• The Hanke’s Annual Misery Index (HAMI) 2022 list of the world’s most miserable countries is out.
• As per the index, Zimbabwe has topped the list of world’s most miserable country.
• The index was formed after analyzing 157 countries and the misery index is the sum of the year-end unemployment, inflation, and bank-lending rates, minus the annual percentage change in real GDP per capita.
• Apart from Zimbabwe, other countries like Venezuela, Syria, Lebanon, Sudan took the top 5 spots in the list of World’s most miserable counties in 2022.
• Apart from Syria, the major contributing factor to misery of the top 5 countries is inflation while Syria was impacted by unemployment.
• As per the list, India ranked at number 103 with unemployment as the major contributing factor.
• It is important to note that World most happiest country Finland ranked at 109 in the world’s most miserable countries list, again with unemployment as the most contributing factor.
• Pakistan which is currently grappling with economic and political crisis ranked at number 35 in the world’s most miserable countries list, with inflation as the most contributing factor.
• Of all the 157 countries analysed, Switzerland ranked at number 157 making it the least miserable of all the countries.
• Other countries which are the least miserable are Kuwait (156), Ireland (155), Japan (154), Malaysia (153).

CURRENT AFFAIRS: MOUS AND AGREEMENT

Goa signs MoU with Uttarakhand to strengthen Tourism Cooperation

• Government of Goa and the Government of Uttarakhand have signed a Memorandum of Understanding (MoU) to collaborate towards enhancing the tourism landscape of both Goa and Uttarakhand.
• The MoU is aimed at promoting bilateral cooperation in the travel and tourism sector and facilitating travel between the states to increase the number of tourists visiting Goa and Uttarakhand respectively.
• The signing of this MoU between the officials of the two states marks a significant step towards promoting tourism in Goa and Uttarakhand and showcasing India’s rich cultural diversity to the world, aligned with the ‘Dekho Apna Desh’ initiative launched by the honorable Prime Minister Narendra Modi.
• The initiative aims to encourage people to witness and experience the rich heritage and vivid culture of India.
• Under the MoU, both states will benefit from direct flight connectivity between Uttarakhand and Goa, the travel time is reduced from 7 hours to 2.5 hours, making it easier for tourists to travel between the two states.
• This MoU is a first of its kind in India, where two states are collaborating to promote the Honorable Prime Minister’s vision of Dekho Apna Desh and can be emulated by the rest of the states in India.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Paytm Payments Bank gets RBI nod to re-appoint Vijay Shekhar as part-time chairman for a year

• The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank Limited (PPBL) for the re-appointment of Paytm Chief Executive Officer (CEO) Vijay Shekhar Sharma as part-time chairman for one year for a third term.

About Vijay Shekhar Sharma :

• Vijay Shekhar Sharma is an Indian technology entrepreneur and multimillionaire business magnate.
• One97 Communications Limited is the parent company of Paytm, a digital payments and financial services company which was launched by Sharma in 2010.
• In January 2022, the ICANN-supported Universal Acceptance Steering Group appointed him as UA Ambassador in

About PPBL :

• Founded : 2017
• Headquarters : Noida, Uttar Pradesh, India
• MD & CEO : Surinder Chawla
• In 2021, the bank received a scheduled bank status from the RBI.^[
• Vijay Shekhar Sharma holds 51% in the entity with One97 Communications holding 49%.

CURRENT AFFAIRS: SPORTS NEWS

Khelo India University games to be declared open by PM Modi in Lucknow

• Prime Minister Narendra Modi will be the chief guest at the inaugural function of the Khelo India University games in Lucknow.
• It is the third edition of the Khelo India University games.
• Union Sports Minister Anurag Thakur and the Minister of State for Sports Nishith Pramanik will also take part in the event.
• The inaugural function will be organized in the Babu Banarasi Das stadium.
• On this occasion, many cultural programs will be also organized. More than 4,000 athletes in 21 sports disciple will participate in the event.
• The KIUG 2022 Games will be held in Varanasi, Noida, Lucknow and Gorakhpur.
• The mascot of the University Games is Jitu Barasingha.
• ‘Shakti‘ is the official torch of Khelo India University Games, Uttar Pradesh.
• It is being organised by the Sports Authority of India (SAI) and Ministry of Youth Affairs and Sports in association with the Association of Indian Universities, the Indian Olympic Association and the National Sports Federation.
• Khelo India University Games is the largest university-level sports competition in India.
• The first edition of the Khelo India University Games was launched by Prime Minister Narendra Modi in 2020.
• The main aim is to identify athletes in the age group of 18 to 25 years for the Olympics and the Asian Games.
• Jain University, Karnataka secured first sport in the 2022 edition of the Khelo India University Games.

Daily CA One- Liner: May 27

• The Union Education Ministry has decided to discontinue ‘Shiksha Puraskar’ and the ‘Hinditar Bhashi Hindi Lekhak Puraskar’
• Shri Piyush Goyal inaugurated the two-day National Workshop on National e-Vidhan Application (NeVA), organized by the Ministry of Parliamentary Affairs, New Delhi
• Indian Railways handed over 20 Broad Gauge (BG) locomotives to Bangladesh
• PM Modi took part in the 3rd in-person Quad Leaders’ Summit in Hiroshima, Japan
• Union Minister Bhupender Yadav inaugurated the Centre of Excellence on Sustainable Land Management at Indian Council of Forestry Research and Education in Dehradun
• Newly built Janganana Bhawan inaugurated by Home Minister Amit Shah in New Delhi
• The Hanke’s Annual Misery Index (HAMI) 2022 list of the world’s most miserable countries is out
• Government of Goa and the Government of Uttarakhand have signed a Memorandum of Understanding (MoU) to collaborate towards enhancing the tourism landscape of both Goa and Uttarakhand
• Prime Minister Narendra Modi will be the chief guest at the inaugural function of the Khelo India University games in Lucknow
• The Reserve Bank of India (RBI) has announced its economic activity index (EAI) nowcast, forecasting a strong Gross Domestic Product (GDP) growth rate of 7.6% for the first quarter of the fiscal year 2023-2024 (Q1 FY24).
• SBI General Insurance, the non-life insurance arm of India’s largest lender State Bank of India (SBI), has announced the launch of the General Surety Bond Bima (Conditional & Unconditional) insurance product.
• One97 Communications Limited (OCL) that owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR and mobile payments, announced that it has launched Paytm UPI SDK.
• Japan’s Digital Minister Kono Taro has expressed keen interest in joining India’s Unified Payments System (UPI), referring to the ongoing digital cooperation between the two countries.
• India made a funding request of approximately $55 million to the World Bank’s Pandemic Fund in its first call in May 2023.
• Paytm Money subsidiary of One97 Communications Limited (OCL) that owns the brand Paytm, has launched a bonds platform for retail investors in India.
• Ireland is set to become the first country to introduce mandatory health warnings on alcohol products.
• Kerala is set to declare itself India’s first “total e-governed state”, to its strides towards a knowledge-based society and economy, and 100% digital literacy.
• A three-day international labour conclave was inaugurated by Kerala Chief Minister Shri Pinarayi Vijayan.
• The Khadi and Village Industries Commission (KVIC) played an important role in conserving and reviving the Handmade Paper-making art of Tawang, Arunachal Pradesh.
• The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank Limited (PPBL) for the re-appointment of Paytm Chief Executive Officer (CEO) Vijay Shekhar Sharma as part-time chairman for one year for a third term.