Daily GK Update: 4th May 2023

By Neha Bisarya|Updated : May 4th, 2023

 National & International Organizations

1. Cristiano Ronaldo becomes Forbes' highest-paid athlete for 2023

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  • According to Forbes, Soccer player Cristiano Ronaldo (Portugal) has become the highest-paid athlete in the world for 2023, after moving to Saudi Arabia's Al-Nassr.
  • He has signed a £175 million-a-year contract with Al-Nassr, which will expire in 2025.
  • He has earned $136m (£108.7m) over the past 12 months.
  • Lionel Messi (Argentina) ranked second with an earning of $130 million, followed by Kylian Mbappé, LeBron James, and Canelo Álvarez.
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 National & International Appointments

2. PM Prasad to be next Coal India chief

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  • Polavarapu Mallikharjuna Prasad has been appointed as the chairman and managing director of Coal India Limited.
  • He is currently posted as CMD of Central Coalfields Ltd (CCL), Ranchi.
  • In 2015, he joined NTPC as Executive Director (Coal Mining) and Northern Coalfields Limited (NCL) in 2018 as Director of Technical (P&P).
  • In 2019, he was also appointed as CMD of BCCL.
  • The Union coal ministry has set a target for Coal India Limited to produce 1012 MT of coal by 2023-24
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 National Affairs

3. India's domestic coal production rises by over 22 % during last five years

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  • India's domestic coal production has increased by over 22% during the last five years.
  • The overall coal production has seen a quantum jump to 893.08 Million tonnes in 2022-23 from 728.72 Million tonnes in 2018-2019 with a growth of about 22.6%.
  • The govt aims to enhance domestic coal production to reduce the dependence on substitutable coal imports
  • Several measures have been taken to ramp up domestic coal production to ensure adequate coal stocks at thermal Power Plants
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 National & International Appointments

4. Ajay Banga appointed as president of World Bank for 5 years

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  • The World Bank's 25-member executive board has confirmed the appointment of Indian-American Ajay Banga as the new president of the World Bank, effective June 2, 2023.
  • He was nominated by US President Joe Biden in February 2023.
  • Presently, he is serving as the vice chairman at US investment firm General Atlantic LP.
  • Before that, he worked as president and CEO of Mastercard.
  • In 2016, he was awarded the fourth-highest civilian award, Padma Shri.
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 Defense

5. Ex Buland Bharat conducted at High Altitude Artillery Ranges

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  • An integrated surveillance and firepower training Exercise BULAND BHARAT was conducted at the Highest Altitude Artillery Ranges of Eastern Theatre.
  • It involves the synergized application of surveillance and firepower capabilities of the Artillery and the Infantry in close coordination with Special Forces, Aviation, and CAPF deployed in West Kameng and Tawang districts of Arunachal Pradesh.
  • Uninterrupted communication on multiple media was also tested at long distances.
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 Obituaries

6. Actor-filmmaker Manobala passes away

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  • An actor - Filmmaker Manobala, who is known for his comedic roles, passed away at 69, due to liver-related ailments.
  • In 1979, he started his film career as an assistant director with Bharathiraja’s Puthiya Vaarpugal.
  • He made his directorial debut with the 1982 Tamil film Aagaya Gangai.
  • He also directed many films like - Mera Pati Sirf Mera Hai, Pillai Nila, Sirai Parvai, and Oorkavalan among others.
  • His last directorial project was the 2002 Tamil film, Naina.
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 National & International Organizations

7. APAC to overtake US, become world’s top fintech market by 2030

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  • According to a report by Boston Consulting Group (BCG) and QED Investors, Asia-Pacific (APAC) region is set to overtake the United States as the world's largest financial technology (fintech) market by 2030.
  • Report title: Global Fintech 2023: Reimagining the Future of Finance
  • It has been predicted that APAC will have a CAGR of 27%, surpassing North America's CAGR of 17%.
  • The growth will be driven by emerging APAC countries such as China, India, and Indonesia.
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 Banking & Finance

8. Pine Labs, ICICI Bank partners to enable Digital Rupee on PoS terminals

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  • Merchant commerce platform, Pine Labs has partnered with the ICICI Bank for the acceptance of the digital Rupee on its PoS terminals.
  • The technology integration between the two entities will now support Digital Rupee acceptance at Pine Labs’ point-of-sale terminals across key retail outlets in Mumbai and Bengaluru.
  • Pine Labs’ execution of the Digital Rupee payment process is completely digital via dynamic QR (quick response) built within its smart Android PoS terminals.
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 Banking & Finance

9. Cashfree, YES Bank partners to offer international payment collection

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  • Cashfree Payments has partnered with the YES Bank to offer ‘Global Collections’, an international collection service for exporters.
  • Under this partnership, the bank’s account holders will be able to collect payments in over 30 foreign currencies using the Global Collections service.
  • The funds so received can then be converted into rupee and settled into their local bank account in India within one business day.
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 Banking & Finance

10. Report on Currency and Finance (RCF) for the year 2021-22

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  • RBI has released a report titled, 'Currency and Finance 2022-23' with a theme of 'Towards A Greener Cleaner India'.
  • This report covers four major dimensions of climate change to assess future challenges to sustainable high growth in India.
  • Areas: Unprecedented scale and pace of climate change; its macroeconomic effects; implications for financial stability; and policy options to mitigate climate risks.
  • The country's goal of achieving the net zero target by 2070.
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 National Affairs

11. REC Limited lists its Green Bonds of USD 750 Million at GIFT IFSC

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  • A Maharatna power finance company, REC Limited has exclusively listed its recently issued Green bonds worth $750 million at GIFT IFSC Stock Exchanges, under its Global Medium Term Programme of $7 billion.
  • The Green bond issuance by REC Limited reinforces its status as one of the most accomplished and frequent issuers in the international capital markets.
  • International Financial Services Centres Authority Chairman Injeti Srinivas attended the ceremony as chief guest.
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 Banking & Finance

12. SEBI introduces the Legal Entity Identifier (LEI) System

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  • Capital markets regulator SEBI has introduced Legal Entity Identifier (LEI) system.
  • Reason: For issuers that have listed or planning to list non-convertible securities, securitized debt instruments, and security receipts
  • It is a unique global identifier for legal entities participating in financial transactions.
  • It is designed to create a global reference data system that uniquely identifies every legal entity, that is party to a financial transaction.
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 National Affairs

13. UGC launches 'CU-Chayan' portal for faculty recruitment

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  • UGC Chairman M Jagadesh Kumar has launched the Central University Faculty recruitment portal CU-Chayan.
  • It is a completely user-friendly portal and caters to the needs of all the stakeholders in the recruitment process.
  • Aim: To create an enabling environment for both, universities and the applicants with universities driving all the stages of the recruitment independently
  • It has been developed after consultations with all the Vice Chancellors of Central Universities.
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Daily GK Update: 4th May 2023

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