DAILY CURRENT AFFAIRS

By admin: May 13, 2024

RBI Lifts Restrictions on Bank of Baroda's 'BoB World' App

Tags: Economy/Finance

The Reserve Bank of India (RBI) has removed restrictions on Bank of Baroda's (BoB) mobile application "BoB World" with immediate effect.

An Overview of the News

• BoB is now permitted to onboard customers through the BoB World application, adhering to relevant guidelines and existing laws/regulations.

• In October 2023, the RBI, utilizing its authority under Section 35A of the Banking Regulation Act, 1949, instructed BoB to halt the addition of customers through its "BoB World" mobile application due to specific supervisory concerns.

BoB World App:

• BoB initiated its mobile banking application pilot in 2011, known as Baroda M-Connect.

• "BoB World," a cutting-edge mobile banking app, was introduced by BoB in September 2021.

• The app provides over 220 services, encompassing approximately 90% of retail banking services.

• It facilitates digital account opening and instant issuance of virtual debit cards, along with online loan applications and immediate disbursal for specific loan products.

About Bank of Baroda (BoB)

• Established: 1908

• Headquarters: Vadodara, Gujarat

• Managing Director and CEO: Debdutt Chand

• Tagline: "International Bank of India"

Indian gymnast Srishti Khandagle wins silver medal in Asian Championships

Tags: Sports

Indian gymnast Srishti Khandagle achieved a significant feat by winning a silver medal at the Asian Trampoline Gymnastics Championships.

An Overview of the News

• The win is the first time an Indian athlete has won a medal at the Asian Trampoline Gymnastics Championships, highlighting Khandagale's historic achievement.

• Competing in the women's individual age group category, Khandagale showcased her skill and determination and earned recognition on the international stage.

• The championships took place in Hong Kong, China, where Khandagale's exceptional performance earned him the silver medal.

• Kazakhstan's Dolgopolova won the gold medal, while Hong Kong's S. Hung won the bronze medal.

Asian Gymnastic Championships:

• Organized by the Asian Gymnastics Union (AGU).

• Features various disciplines including artistic, rhythmic, acrobatic, aerobic, and trampoline gymnastics.

• Focuses on senior athletes aged over 16.

Trampoline Asian Championships 2024:

• The sixth Trampoline Asian Championships is being hosted by Hong Kong, highlighting the city's role as a major hub for international sporting events.

• More than 120 elite trampoline athletes from 12 Asian countries and regions participated.

Event Details:

• Aim to determine qualifiers for the 2024 Paris Olympics.

• Venue: Tsuen Wan Sports Center.

• Organized by the Gymnastics Association of Hong Kong, China.

Title Sponsorship:

• BOC Group Life Assurance Company Limited sponsors the championship.

• Named as "BOC LIFE 6th Trampoline Asian Championships 2024".

Dilip Sanghani Appointed IFFCO Chairman

Tags: Person in news

Dilip Sanghani was re-elected as Chairman of Indian Farmers Fertiliser Cooperative (IFFCO) for the second consecutive term.

An Overview of the News

• Balveer Singh has been elected Vice President of IFFCO for the second consecutive time.

• Sanghani, a former MP and cabinet minister during Narendra Modi's tenure as Gujarat Chief Minister, previously held ministerial posts in the Modi government in Gujarat and headed various departments.

• Singh, a senior member of the BJP in Uttar Pradesh, served as the state convenor of the BJP cooperative cell and district president of Shahjahanpur.

Highlights of the election process:

• According to an IFFCO statement, the elections saw significant participation from cooperatives representing more than 36,000 member societies across the country.

• IFFCO Managing Director U.S. Awasthi confirmed that the elections were conducted in a fair and transparent manner.

About IFFCO:

• It functions as a multi-state cooperative society.

• Its primary focus is on manufacturing and marketing of fertilizers.

• The company's headquarters is located in New Delhi, India.

Established - 3 November 1967

Founder - Udaybhansinghji Natwarsinghji Jethwa

Kami Rita Sherpa Sets New Record with 29th Ascent of Mount Everest

Tags: Popular Person in news

Kami Rita Sherpa, a renowned Nepalese climber and guide, achieved a historic feat by summiting Mount Everest for the 29th time.

An Overview of the News

• Often referred to as the 'Everest Man', Kami Rita surpassed his own previous record of 28 successful ascents, which he achieved in the spring season of the previous year.

• Kami Rita reached the summit of Mount Everest at 7:25 am (NST) on May 12.

• He accomplished this feat while leading an expedition organized by 'Seven Summit Treks', showcasing his leadership and expertise in mountaineering.

Expedition Details

• Kami Rita embarked on his expedition from Kathmandu at the end of May, leading a team of approximately 28 climbers.

• As an experienced guide, he provided valuable leadership and support to the team throughout the challenging journey.

Historical Significance

• With a climbing legacy spanning 71 years, Kami Rita now holds the esteemed record for the highest number of ascents on Mount Everest.

• His achievement surpasses the previous record held by Pasang Dawa Sherpa, another renowned climber from Solukhumbu, who climbed Sagarmatha for the 27th time last year.

N. Chandrasekaran appointed Chairman of Tata Electronics

Tags: Person in news

N. Chandrasekaran, the current chairman of Tata Sons, will also serve as the chairman of Tata Electronics.

An Overview of the News

• Chandrasekaran will replace Banmali Agarwal in this role, pending regulatory approval.

• Chandrasekaran's appointment reflects the Tata Group's commitment to the semiconductor business.

Key appointments at Tata Electronics:

• Chandrasekaran was instrumental in recruiting former Intel Foundry Services veteran Randhir Thakur as CEO and MD of Tata Electronics.

• Srinivas Satya, previously at Applied Materials, joins as chief supply chain officer and president of the components business.

International Talent Acquisition:

• Tata Electronics has recruited 50-60 top-level expatriates, leveraging their expertise in semiconductor technology, strategic planning, and design.

Tata Electronics expansion and facility acquisition:

• The company, established in 2020, is Apple's sole Indian vendor to assemble iPhone enclosures.

• Tata Electronics is expanding its existing facility in Hosur, Tamil Nadu, and has acquired a facility in Karnataka from Taiwan's Wistron.

• Plans are underway to acquire Pegatron facility in Tamil Nadu to further expand production capacity.

McGill Awards Honorary Doctorate to Dr. Soumya Swaminathan

Tags: Awards Person in news

Dr. Soumya Swaminathan, former WHO Chief Scientist, is set to receive an honorary doctorate from McGill University during the Spring 2024 Convocation ceremonies.

An Overview of the News

• McGill University, renowned for its academic excellence, bestows honorary degrees upon individuals with exceptional contributions to scholarly, scientific, or artistic fields, or significant societal impact through professional or philanthropic endeavors.

• McGill University will confer upon Dr. Swaminathan the Doctor of Science, honoris causa (D Sc) in Health Sciences on May 28.

Soumya Swaminathan's distinguished career:

• Dr. Swaminathan, aged 65, has a distinguished career spanning over 40 years in public health and infectious diseases.

• Notably, she served as WHO's Deputy Director-General (Programmes) until the end of 2022 and thereafter as its first Chief Scientist during the COVID-19 pandemic.

Swaminathan's leadership during the pandemic:

• Dr. Swaminathan played a key role in coordinating global responses to the COVID-19 pandemic.

• Her leadership facilitated research coordination, dissemination of critical information, and guidance to policymakers on effective strategies to combat the virus.

McGill University's highest honor:

• The honorary doctorate represents McGill's highest honor, symbolizing the transformative impact of individual achievement.

• McGill President Deep Saini emphasizes that the award reflects shared values and aspirations within the university community.