Daily GK Update: 12th January 2023

By Neha Bisarya|Updated : January 12th, 2023

 Defense

1. India successfully carries out test launch of Prithvi-II ballistic missile

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  • Defence Research and Development Organisation (DRDO) has successfully launched Short-Range Ballistic Missile (SRBM), Prithvi-II from the Integrated Test Range, Chandipur, Odisha coast.
  • Prithvi-II missile is a well-established system.
  • It has been an integral part of nuclear deterrence in India.
  • During the training launch, the missile hit its target with high accuracy and successfully validated all operational and technical parameters of the missile.
  • Range: 350 km
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 Schemes

2. Centre renamed Integrated Food Security Scheme

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  • The government of India has named the new Integrated Food Security Scheme as Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY).
  • Prior to this, the Union Cabinet had approved this scheme for providing free food grains to Antodaya Ann Yojna (AAY) and Primary Household (PHH) beneficiaries.
  • This scheme came into effect on 1st January 2023.
  • Under PMGKAY, free foodgrains will be provided to all PHH and AAY beneficiaries, as per entitlement under National Food Security Act.
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 Books & Authors

3. HM Amit Shah releases a book titled Revolutionaries

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  • Home Minister, Amit Shah has released a book titled Revolutionaries- The Other Story of How India Won Its Freedom.
  • This book was authored by veteran Economist Sanjeev Sanyal, a member of the Economic Advisory Council to the Prime Minister.
  • The book has written the stories of freedom fighters like Bhagat Singh, Chandra Shekhar Azad, V D Savarkar, Aurobindo Ghosh, Rashbehari Bose, and Bagha Jatin, in a collective manner.
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 Books & Authors

4. Mansukh Mandaviya released a book titled Braving A Viral Storm

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  • Health and Family Welfare Minister, Mansukh Mandaviya has officially launched the book titled Braving A Viral Storm: India’s Covid-19 Vaccine Story.
  • It was co-authored by Aashish Chandorkar and Suraj Sudhir.
  • This book has explained the growth of India as a self-sufficient nation where all sections of society contributed to fighting the pandemic.
  • The book was launched ahead of India's second anniversary of starting its COVID-19 vaccination drive in January 2021.
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 Banking & Finance

5. Govt approves incentive scheme for promotion of RuPay Debit Cards

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  • The Union Cabinet has given its approval to the incentive scheme for the promotion of RuPay Debit Cards and low-value BHIM-UPI transactions.
  • The scheme has a financial outlay of 2,600 crore rupees.
  • Aim: To help in building a robust digital payment system.
  • Besides, the Cabinet has also given its approval to rename the National Centre for Drinking Water, Sanitation, and Quality at Joka, Kolkata as Dr. Syama Prasad Mookerjee National Institution of Water and Sanitation.
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 National Affairs

6. Indian High Commission to establish Hindi Chair at Sabaragamuwa University

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  • The Indian High Commission has signed a memorandum of understanding (MoU) to establish a Hindi Chair at Sabaragamuwa University of Sri Lanka.
  • The MoU was signed between Gopal Baglay (High Commissioner) and Prof. Udaya Rathnayake (Vice Chancellor of Sabaragamuwa University).
  • Aim: To help in familiarizing students with India, its history, and culture as well as pave way for popularising Hindi by deputing Indian faculties.
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 Banking & Finance

7. Axis Bank revised pact with Max Fin Serv

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  • Axis Bank has entered into a revised agreement with Max Financial to acquire the remaining 7% stake in the latter.
  • The parties agreed that the valuation for the right to acquire the remaining 7% stake of Max Life will be through fair market value using discounted cash flow.
  • Axis Entities have earlier acquired 12.99% stake in Max Life at Rs 35 per share with the right to purchase an additional 7% stake in the company.
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 National Affairs

8. PM Modi inaugurates 26th National Youth Festival at Hubbali in Karnataka

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  • Prime Minister Narendra Modi has inaugurated the 26th National Youth Festival, organized in Hubballi, Karnataka from 12th -16th January 2023.
  • This festival is held every year to provide exposure to our talented youth at the national level.
  • It is being held on National Youth Day (12th January), which is celebrated on the birth anniversary of Swami Vivekananda.
  • Theme of this event: “Viksit Yuva - Viksit Bharat”
  • The event also included folk dances and songs.
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 National & International Organizations

9. Japan tops the Henley Passport Index 2023

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  • According to the Henley Passport Index 2023, released by Henley & Partners, Japan with 193 destinations topped the list.
  • While, Singapore and South Korea with 192 destinations ranked second, followed by Germany and Spain (190 destinations); Finland, Italy, and Luxembourg (189 destinations).
  • India has ranked 85 with 59 destinations worldwide.
  • Bottom: Afghanistan
  • The list was prepared on the basis of data provided by the International Air Transport Association (IATA)
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 Banking & Finance

10. EnKash received RBI's in-principle nod as online payment aggregator

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  • Spending management platform, EnKash has received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator.
  • Payment aggregators: They facilitate e-commerce sites and merchants to accept payment instruments from customers.
  • They help to connect merchants with acquirers.
  • BharatPe and Hitachi Payment Services have also received in-principle authorization to operate as payment aggregators.
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 Banking & Finance

11. World Bank predicts India’s economic growth to slow to 6.9% in FY23

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  • The World Bank has projected that India’s economy would grow 6.9% in FY23, which is much lower than the 8.7% growth achieved by the country in the previous financial year (FY2021/22).
  • Report title: Global Economic Prospects Report
  • The World Bank has also predicted that global growth in 2023 would slow to 1.7%  from the 3%.
  • Reason: Elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine
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 Arts & Culture

12. Petta Thullal organised with ritualistic fervour in Kottayam

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  • Petta Thullal, the ritualistic sacred dance by the Ambalappuzha group, was held at Erumeli town in the Kottayam district, Kerala.
  • Reason: To celebrate the victory of Lord Ayyappa over demon princess Mahishi.
  • This event marks the beginning of the last leg of the annual Sabarimala pilgrimage season.
  • The devotees started the ceremonial dance after sighting the sacred eagle (Krishna Parunthu) in the sky from Kochambalam.
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 Banking & Finance

13. SEBI allows futures contract on corporate bond index

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  • The Securities and Exchange Board of India has allowed exchanges to introduce future contracts on Corporate Bond Indices.
  • The index should be composed of corporate debt securities, constituents of the index should have adequate liquidity and diversification at the issuer level and the constituents of the index should be periodically reviewed.
  • The single issuer should not have more than 15% weight in the index.
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Daily GK Update: 12th January 2023

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