Daily GK Update: 25th April 2023

 National Affairs

1. PM Modi flagged off India's first water metro in Kochi, Kerala

• PM Modi has inaugurated India's first water metro in Kochi (Kerala), which connects 10 islands around Kochi through battery-operated electric hybrid boats.
• The metro project will start with eight electric hybrid boats developed under Cochin Shipyard Limited.
• It was funded by the Kerala govt and the German company KfW.
• It consists of 38 terminals and 78 electric boats.
• The first phase of this project started from the High Court-Vypin and Vyttila-Kakkanad terminals.

 National & International Appointments

2. Rajesh Kumar Singh takes charge as Secretary, DPIIT

• Rajesh Kumar Singh has assumed the charge of Secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
• He is an IAS officer of the 1989 Batch from the Kerala cadre.
• Before this, he served as Secretary in the Department of Animal Husbandry & Dairying, Ministry of Fisheries, Animal Husbandry & Dairying.
• He has replaced Anurag Jain, who was appointed secretary in the Ministry of Road Transport and Highways.

 Honours & Awards

3. Sharjah stadium stand named after Sachin Tendulkar

• The West Stand at the Sharjah cricket stadium has been renamed after Indian former cricketer, Sachin Tendulkar in a special ceremony in the UAE, honouring the Indian cricket legend on his 50th birthday.
• Sharjah Cricket Stadium holds the Guinness record for most One-Day internationals played (244).
• The gate at the Sydney Cricket Ground was also named after Sachin Tendulkar on his 50th birthday.
• CEO of Sharjah Stadium: Khalaf Bukhatir

 Important Dates

4. World Malaria Day 2023: 25th April

• World Malaria Day is observed every year on April 25 to commemorate the recognition of global efforts to control malaria.
• WHO Member States instituted this day during the World Health Assembly of 2007.
• Theme 2023: Time to deliver zero malaria: invest, innovate, implement
• Malaria is a disease caused by parasites transmitted to people through the bites of infected female Anopheles mosquitoes.
• India has registered over 85% decline in malaria cases from 2015 to 2022

 Obituaries

5. Pakistani-Canadian journalist Tarek Fatah passes away

• Pakistani-Canadian journalist, Tarek Fatah passed away at the age of 73 due to Cancer.
• He was emigrating to Canada from Pakistan in 1987.
• He worked as a political activist, journalist, and television host.
• He also authored several books including, 'Chasing a Mirage: The Tragic Illusion of an Islamic State' and 'The Jew is Not My Enemy: Unveiling the Myths that Fuel Muslim Anti-Smitism.'
• He won various awards such as the Donner Prize, and Stan Vine Canadian Book Award.

 National Affairs

6. India launches Operation Kaveri to evacuate stranded citizens from Sudan

• India has launched a rescue operation named Operation Kaveri to evacuate its stranded citizens from Sudan.
• Two C-130s aircraft and the navy ship INS Sumedha is on standby to evacuate Indians.
• The name for rescue operations in Sudan has been kept Operation Kaveri for the same purpose that Prime Minister Modi chose to name rescue ops in Ukraine Operation Ganga.
• Kaveri is one of the major Indian rivers flowing through Karnataka and Tamil Nadu.

 Banking & Finance

7. IndusInd Bank to launch digital bank 'Indie'

• IndusInd Bank is planning to launch its own digital bank 'Indie'.
• The necessary approvals for all these expansion plans and other logistics by the bank are likely to be completed in 2 years.
• The bank is also planning to enter the mutual funds, insurance, and broking sector.
• It is likely to apply for the license in a few days.
• The Hindujas-promoted bank is likely to approach SEBI, IRDAI, and other regulators to obtain the necessary licences.
• IndusInd Bank HQ: Mumbai

 Banking & Finance

8. RBI imposes Rs 44 lakh penalty on 4 co-op banks

• The Reserve Bank of India (RBI) has imposed penalties totaling Rs 44 lakh on four cooperative banks.
• Bombay Mercantile Co-operative Bank: Penalty of Rs 13 lakh as it failed to transfer the eligible amount to Depositor Education and Awareness Fund (DEAF).
• Tamil Nadu State Apex Co-operative Bank: Penalty of 16 lakhs as it failed to transfer eligible amounts to DEAF.
• Baran Nagrik Sahkari Bank: A penalty of 2 lahks has been imposed for contravention of certain norms.

 International Affairs

9. Mongolia refinery to be built by India by 2025

• Mongolia Ambassador to India Dambajav Ganbold has informed that the first oil refinery of Mongolia, which is built and funded with Indian assistance, will be completed by 2025.
• The first stage of the Mongol Oil Refinery will be built with a $1.2 billion Indian soft loan.
• The development comes with strategic implications as Mongolia is entirely dependent on Russia for its energy imports.
• It would help Mongolia meet 70% of its demand domestically.

 Banking & Finance

10. HDFC Bank, Axis Bank sign definitive agreements with Go Digit

• Axis Bank and HDFC Bank would acquire up to a 9.94 percent stake in Go Digit-Life Insurance.
• HDFC Bank informed that it has executed definitive agreements to invest ₹69.90 crore in Go Digit-Life Insurance Ltd in two tranches.
• The bank has made the first tranche of payment of ₹10.93 crore for towards the acquisition.
• Axis Bank has also executed definitive agreements to invest ₹69.90 crore in Go Digit-Life Insurance Ltd in two tranches.

 Banking & Finance

11. Zimbabwe to Introduce Gold-Backed Digital Currency

• The Reserve Bank of Zimbabwe will launch a gold-pegged digital currency and legalize them in the country.
• It is believed that the government took this step for stabilizing the local currency after its continuous devaluation in comparison to the U.S. dollar.
• This initiative taken by Zimbabwe will allow the exchange of Zimbabwean dollars with digital gold tokens and secure Zimbabweans against currency volatility.
• Zimbabwe Capital: Harare;  President: Emmerson Mnangagwa

 National Affairs

12. Union Minister Bhupender Yadav launched new features in eShram Portal

• Union Minister for Labour & Employment and Environment, Bhupender Yadav has launched new features in eShram Portal.
• Aim: To enhance the utility of the portal and facilitate ease of registration for unorganized workers
• A feature for capturing the family details of migrant workers has been added to the eShram portal.
• The eShram-registered workers can now connect with employment opportunities, pension scheme, digital skilling, and states’ schemes through the portal.

 National & International Organizations

13. SIPRI report on Trends in World Military Expenditure 2022 released

• A report on Trends in World Military Expenditure 2022, published by Stockholm International Peace Research Institute, stated that total global military expenditure increased by 3.7% in real terms in 2022 to reach a new high of $2240 billion
• The three largest spenders in 2022 are the USA, China, and Russia, accounting for 56% of the total world
• The US remains by far the world’s biggest military spender
• India’s spending of $81.4 billion was the fourth highest in the world.