Daily GK Update: 18th May 2023

 Honours & Awards

1. Tata Chairman N Chandrasekaran honored with France's highest civilian award

• Tata Sons chairman, N Chandrasekaran (59) was conferred with France's highest civilian honor, 'Chevalier de la Légion d’Honneur', by French Minister for Europe and Foreign Affairs Catherine Colonna.
• He was awarded for his role in developing and fostering commercial links between India and France.
• N Chandrasekaran was appointed the chairman of Tata Sons in 2017 and later, was given a second term in the role for another five years.

 National & International Appointments

2. Arjun Ram Meghwal replaces Kiren Rijiju as Law Minister

• In a cabinet reshuffle, Arjun Ram Meghwal has been appointed as the new union law minister.
• He is a retired IAS officer, social worker, and farmer, who later turned politician from Rajasthan.
• Currently, he is serving as the MoS for Parliamentary Affairs and MoS for Culture.
• He has also served as the Union Minister of State, and Ministry of Finance from 2016 to 2017.
• He has replaced Kiren Rijiju, who will now handle the Ministry of Earth Sciences.

 National & International Appointments

3. Paytm appoints Bhavesh Gupta as president and COO

• One 97 Communications Ltd (parent company of Paytm) has appointed Bhavesh Gupta as its president and chief operating officer (COO).
• He has served as the CEO of Clix Capital (formerly known as GE Capital) and head of SME & business banking at IDFC Bank.
• He will be responsible to lead verticals of lending, insurance, payments – online and offline, consumer payments, and drive key initiatives including user growth, operations risk, fraud risk, and compliance.

 State Affairs

4. HPCL to set up Rs 500 cr ethanol plant in Una

• Himachal Pradesh CM, Sukhvinder Sukhu has informed that an ethanol plant would be set up in Una district by Hindustan Petroleum Corporation Limited (HPCL) with an outlay of Rs 500 crore.
• The government will invest 50% equity in the project and would extend cooperation to the company for setting up the plant
• The plant would provide employment and self-employment opportunities to the local people and farmers from Kangra, Hamirpur, and Bilaspur
• HPCL CMD: Pushp Kumar Joshi

 Agreement

5. Govt approves signing of Project Collaboration Agreement between DHR & WHO

• The Union Government has approved the signing of the Project Collaboration Agreement between the Department of Health Research (DHR) and the WHO on Assistive Technology.
• Aim: Working towards drawing global attention toward access to assistive technology, fostering research and innovation, and developing and disseminating appropriate training programs.
• The government has also approved an MoU between the CCI and the Egyptian Competition Authority (ECA).

 Banking & Finance

6. RBI allows SBI Funds Management to acquire up to 9.99% stake in HDFC Bank

• The Reserve Bank of India (RBI) has allowed SBI Funds Management (SBIMFL) to acquire up to 9.99% of the paid-up share capital or voting rights of HDFC Bank.
• SBIFML has been advised by RBI to acquire the aforesaid major shareholding in the bank within a period of six months i.e. by November 15, 2023.
• SBIFML must ensure that the aggregate holding in HDFC Bank remains below 10% of the paid-up share capital or voting rights of the Bank at all times.

 Banking & Finance

7. Morgan Stanley: India to contribute 16% to global GDP growth over 2023-24

• According to Morgan Stanley, India is expected to contribute 16% of the global gross domestic product (GDP) growth over 2023-24.
• The Indian economy is a key contributor to Asian economic growth outperformance and the broad-based recovery in demand runs counter to the weakness seen outside Asia.
• In recent months, a wide variety of indicators suggest that India’s recovery is strong and broad-based, and is well-placed to sustain growth rates of above 6%.

 National Affairs

8. MoS for Communications launched ORAN test bed project

• MoS for Communications, Devusinh Chauhan has launched the Open Radio Access Network (ORAN) testbed project for conformance, certification, and interoperability testing of O-RAN-based solutions.
• It will facilitate the testing of ORAN elements and will facilitate the development of a fully indigenous 5G radio network in India.
• He has also released a Postal Stamp to mark the glorious 20 Years of Universal Service Obligation Fund of the Ministry of Communications.

 International Affairs

9. UNEP suggests measures to reduce 80% of world's plastic pollution by 2040

• According to the UNEP report, 'Turning Off The Tap', plastic pollution across the world can be reduced by up to 80% by 2040, if companies and countries make policy and market shifts using existing technologies.
• The magnitude and nature of changes required to end plastic pollution and to create a circular economy to replace the widespread use of single-use plastics and their inappropriate disposal.
• About 400 million tonnes of plastic waste are generated every year.

 State Affairs

10. Online education program ‘Pahal’ for rural children inaugurated

• Uttar Pradesh Chief Secretary, Durga Shankar Mishra has inaugurated an online rural education program ‘Pahal’ at Government UP Sainik Inter College, Sarojini Nagar.
• The Department of secondary education has prepared this program in collaboration with IIT Kanpur.
• Free online education will be provided at 10 government secondary schools in the initial phase.
• The rural area students will be able to get the latest information related to science and mathematics.

 Obituaries

11. BJP Ambala MP Rattan Lal Kataria passes away

• Former Union minister and the BJP's Ambala MP Rattan Lal Kataria passed away at 71.
• He has served as minister of state in the Union Ministry of Jal Shakti and the Ministry of Social Justice and Empowerment from May 2019 till July 2021.
• He was elected to the Lok Sabha from Ambala in 1999, 2014, and 2019.
• He also served as the party's Haryana unit chief from 2000 to 2003.
• He was also a minister in the Haryana government.

 National Affairs

12. Govt to set up 1,100 new Farmer Producer Organizations

• The Ministry of Cooperation has informed that government will form 1,100 New Farmer Producer Organizations (FPOs) in the Cooperative Sector.
• These additional 1100 FPOs have been allocated to National Cooperative Development Corporation (NCDC) under the FPO Scheme.
• Under the FPO Scheme, financial assistance of 33 lakh rupees is provided to each FPO.
• Further, financial assistance of  25 lakh rupees per FPO is provided to the Cluster-Based Business Organizations.

 Summits & Conferences

13. G20's RIIG Conference on Scientific Challenges and Opportunities

• G20 Research and Innovation Initiative Gathering (RIIG) Conference on Scientific Challenges and Opportunities for sustainable blue economy held at Diu on 18 May 2023.
• The main theme of RIIG during India’s G-20 Presidency in 2023 is “Research and Innovation for an Equitable Society”.
• Secretary, Department of Science and Technology (DST), Dr Srivari Chandrasekhar has chaired the G20 RIIG conference.

 Important Dates

14. International Museum Day 2023: 18 May

• International Museum Day is observed annually on May 18 in order to recognize the vital role that museums play in fostering cultural exchange.
• 2023 theme: Museums, Sustainability, and Well-being
• This theme highlights the crucial role that museums can assume in advancing the concepts of well-being and sustainability.
• This day was first celebrated four decades ago in 1977 by the International Council of Museums (ICOM).