Daily GK Update: 27th May 2023

National & International Appointments

Karnataka Bank has appointed Srikrishnan Harihara Sarma as the new managing director and chief executive officer of the bank for three years.
The appointment is subject to the approval of shareholders at the ensuing AGM or within a period of 3 months from the date of assuming charge whichever is earlier.
His expertise and leadership would drive the bank toward continued growth and success.
He has worked at HDFC Bank Limited, Yes Bank, and Jio Payments Bank.

Banking & Finance

PhonePe has become the first digital payments app to successfully enable the linkage of two lakh RuPay credit cards to the Unified Payments Interface (UPI).
Besides, it has also processed a total payment value (TPV) of Rs 150 crore via RuPay credit on UPI.
PhonePe offers a comprehensive suite of solutions for RuPay Credit on UPI in partnership with NPCI.
It has already enabled the acceptance of RuPay Credit Cards on UPI across 12 million merchant outlets.

Defense

Indian Navy and Royal Saudi Naval Force (RSNF) concluded the sea phase of the second edition of bilateral exercise 'Al Mohed Al Hindi 23', which was held in Al Jubail, Saudi Arabia from 23 - 25 May 2023.
Indian Navy participated with the INS Tarkash, INS Subhadra, and Dornier Maritime Patrol aircraft (MPA).
The RSNF was represented by HMS Badr and Abdul Aziz, MH 60R helo, and UAV.
The exercise culminated with debrief at sea followed by a traditional steam past.

Banking & Finance

Equitas Small Finance Bank has signed an agreement with International Business Machines (IBM) to design and build a digital banking platform.
Aim: To provide a secure experience to customers
The collaboration will boost the digital products offered by Equitas as well as its service offerings, as it evolves its business for a digital-first generation.
Equitas SFB aims to commence its modernization journey with a cloud-native platform architecture.

Banking & Finance

The RBI has imposed a penalty of Rs 84.50 lakh on the Central Bank of India for non-compliance with norms related to fraud classification and reporting
The RBI had conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2021.
The reports revealed that the bank had failed to report as fraud to RBI certain accounts within seven days of the decision of the JLF to declare the accounts as fraud.

Summits & Conferences

The Eighth meeting of the NITI Aayog Governing Council was concluded in New Delhi, presided over by PM Modi as the Chairman of NITI Aayog.
Theme: Viksit Bharat @2047: Role of Team India
Eight prominent themes were discussed: (i) Viksit Bharat@2047, (ii) Thrust on MSMEs, (iii) Infrastructure and Investments, (iv) Minimising Compliances, (v) Women Empowerment, (vi) Health and Nutrition, (vii) Skill Development, (viii) Gati Shakti for area development and social infrastructure.

Honours & Awards

Three Indians have been honored posthumously with the Dag Hammarskjold Medal.
India's Permanent Representative at UN Ambassador Ruchira Kamboj has received the medal in honor of three Indian peacekeepers who lost their lives in the line of duty in 2022
BSF Head Constables Shishupal Singh and Sanwala Ram Vishnoi have served with the Organisation Stabilisation Mission in the Democratic Republic of the Congo
While Shaber Taher Ali served in a civilian capacity with UNAMI

National & International Appointments

The Central government has notified the appointment of Justice MS Ramachandra Rao as the Chief Justice (CJ) of Himachal Pradesh HC.
He has succeeded CJ Amjad Sayed, who retired in January 2023.
In addition, Justice SV Gangapurwala was appointed as the CJ of Madras HC.
Presently, Justice S Vaidyanathan has been serving as the Acting CJ of Madras High Court.
Justice Ramesh Dhanuka has been appointed as the Chief Justice of Bombay HC with a tenure of four days.

Sports

Norwegian chess GM, Magnus Carlsen has won the Superbet Rapid and Blitz Poland 2023, held at the Museum of the History of Polish Jews in Warsaw, Poland.
He finished with a score of 24/36 and won the cash prize of $40,000.
Jan-Krzyzstof Duda (Polish), who placed second ended with 23/36.
While the USA’s Wesley So and France’s Maxime Vachier-Lagrave finished in a tie for third.
The 2023 Grand Chess Tour continues with the SuperUnited Rapid & Blitz in Zagreb Croatia.

National & International Appointments

The National Council of Confederation of Indian Industry (CII) has elected R Dinesh as the president of CII for 2023-24.
He is an executive vice-chairman of TVS Supply Chain Solutions.
He has replaced Sanjiv Bajaj, the chairman and managing director, Bajaj Finserv Limited.
Sanjiv Puri (chairman and managing director of ITC Ltd) has taken over as president-designate of CII for the year 2023-24.
Rajiv Memani has taken over as vice-president of CII for the year 2023-24.