Daily & Latest Current Affairs in 2025

Correct Answer :   6.3%

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The World Bank on Tuesday (6th June 2023) raised its 2023 global growth forecast as the US and other major economies have proven more resilient than forecast, but said higher interest rates would cause a larger-than-expected drag 2024.

* However, it trimmed India's GDP growth forecast to 6.3% in FY24 from 6.6% forecast in January 2023.

* Real global GDP is set to climb 2.1% in 2023, the World Bank said in its latest Global Economic Prospects report. That's up from a 1.7% forecast issued in January 2023 but well below the 2022 growth rate of 3.1%.

* The development lender cut its 2024 global growth forecast to 2.4% from 2.7% in January 2023, citing the continuing effects of tighter monetary policy, particularly in reducing business and residential investment.

* "Growth over the rest of 2023 is set to slow substantially as it is weighed down by the lagged and ongoing effects of monetary tightening, and more restrictive credit conditions," it said.

* The bank predicted global growth rebounding to 3.0% in 2025.

* In January 2023, the World Bank had warned that global GDP was slowing to the brink of recession, but since then, strength in the labor market and consumption in the US had exceeded expectations as has China's recovery from COVID-19 lockdowns.

* US growth for 2023 is now forecast at 1.1%, more than double the 0.5% forecast in January 2023, while China's growth is expected to climb to 5.6%, compared to a 4.3% forecast in January 2023 after COVID-reduced growth of 3% in 2022.

* The bank, however, halved its previous 2024 US growth forecast for the U.S. to 0.8%, and cut China's forecast by 0.4 percentage point to 4.6%.

* The euro zone got a forecast increase to 0.4% growth for 2023 from a flat outlook in January, but the forecast for next year was also cut slightly..

Source : Business Today

Correct Answer :   Microsoft

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Wipro announced (6th June 2023) the launch of the Wipro Industry Innovation Experience for Financial Services, featuring a new suite of banking and financial services solutions built on Microsoft Cloud.

The Innovation Experience will bring together Microsoft Cloud capabilities with Wipro FullStride Cloud, as well as leverage Wipro’s and Capco’s deep domain expertise in financial services. Together, Microsoft and Wipro will develop new solutions to help financial services clients accelerate growth and deepen client relationships.

The Innovation Experience will allow financial services firms to explore new solutions in an immersive 3D environment. Solutions currently available as part of the Experience range from prevention of financial crime and loan origination to those that help transform core banking systems and maximize cloud investments.

Harpreet Arora, Senior Vice President and Global head of BFSI Domain and Consulting, Wipro Limited, said : “By combining Microsoft Cloud with Wipro FullStride Cloud’s portfolio and deep financial services expertise, we are uniquely positioned to offer clients transformative solutions to tackle their biggest challenges and deliver tangible business outcomes. This Innovation Experience in partnership with Microsoft will also foster and speed up the collaboration that is necessary to continuously help our clients.”

Bill Borden, Corporate Vice President, Worldwide Financial Services at Microsoft, said : “Using Microsoft Cloud for Financial Services, Wipro has delivered a variety of new, innovative solutions that will help financial institutions speed time to value and drive sustainable growth. We’re excited that our joint customers can now test drive them via Wipro’s virtual Industry Innovation Experience for Financial Services.”

Nitish Mittal, Partner, Everest Group, added : “Financial services enterprises are looking to enhance their industry cloud journey by focusing on expertise for complex domain challenges leveraging platform-based cloud operating models. This Microsoft and Wipro partnership is an evolutionary step in this direction to help financial services clients accelerate their transformation and enhance cloud value realization.”


Solutions currently included in the Innovation Experience include :

* Core Banking Transformation – a bundled solution empowering banks to overcome legacy challenges, deliver new capabilities, and realize the benefits of NextGen banking.

* Intelligent Volume Optimization and Risk Management (IVOR) – an AI-powered anti-money laundering solution that helps detect financial crime by making operations more accurate, efficient, and cost-effective.

* NetOxygen – a digital cloud-based loan origination solution that streamlines the lender/borrower experience, enabling an automated, end-to-end lending process that scales cost effectively, delivering a faster and seamless digital mortgage experience.

* FinOps – a comprehensive cloud operations and management solution that enables banks to capitalize on their cloud investments, drive innovation, optimize operations and scale products quickly..

Source : Wipro.

Correct Answer :   Uttar Pradesh

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Uttar Pradesh a leading state in the field of milk development and milk production, the state government has launched the Nand Baba Milk Mission scheme at a cost of Rs 1,000 crore.

* The Nand Baba Milk Mission scheme, which was launched on Tuesday (6th June 2023) has been implemented to provide milk producers the facility of selling their milk at a reasonable price in villages through dairy co-operative societies.

* Cabinet Minister, Livestock and Dairy Development Department, Dharampal Singh said the department was making constant efforts to ensure the development of the rural economy in the state, to provide remunerative prices to the farmers for their milk and to strengthen the agro-based infrastructure.

* Under this mission, it is proposed to form Dairy farmer producer organisation (Dairy FPO) in order to facilitate sale of milk in producers' villages itself, he said.

* In the financial year 2023-24, there is a plan to set up five Dairy FPOs in as many districts of the state as a pilot project, in which women will also play a major role, he said.

* Besides the opening of office of the Nand Baba Milk Mission at Kisan Gomtinagar, a 'Dairy Development Portal' and logo of Nand Baba Mission has also been unveiled..

Source : India Times

Correct Answer :   Yes Securities

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YES SECURITIES (YSL) is partnering with WatchYourHealth (WYH), a tech driven healthcare platform, to provide investment solutions to healthcare professionals through the ‘Wellth- Where Investments and Health Unite’ program.

Aim : As per the company, the partnership is aimed at helping the healthcare community start their investment journey for successful wealth creation and achieving long-term financial goals.

Anshul Arzare, joint MD and CEO, YES SECURITIES said, “The journey of wealth creation and financial planning involves investment awareness, picking the right asset mix, and aligning it with financial goals and this requires time, knowledge and critical decision making. Our products and offerings are curated to suit both the new age and traditional investors. With this partnership, we aim to provide the best of wealth advice and democratise investment accessibility to every investor in the country.”

Additionally, the company will provide free-of-cost demat and trading accounts, monthly stock research recommendations, and tailor-made product offerings based on the client’s needs. The partnership will also see the launch of a custom app, which will provide a seamless and personalised investment journey exclusively for doctors.

Ratheesh Nair, CEO and co-founder, WatchYourHealth said, “The Wellth initiative, where Investments and Wealth unite is an endeavour from WYH and the YES SECURITIES to help the Doctor community grow their wealth with professional guidance using financial education as a tool. This educational series will help doctors diversify from traditional investment opportunities like FD and look at growing their wealth in line with the India growth story.”

Moreover, some of the other features under the Wellth program include investment products and advisory services to doctors and healthcare professionals, financial planning products including SIPs and AIFs to retail and HNI clients. This will also comprise webinars to create investment awareness, an online module to train doctors and healthcare professionals..

Source : Financial Express

Correct Answer :   Pinarayi Vijayan

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Kerala Chief Minister Pinarayi Vijayan launched the "KFON, Kerala Fibre Optic Network project" at Shankaranarayanan Thambi Hall of the State Legislative Assembly on Monday (5th June 2023).

Aim : The project aims to, ensure internet facilities for all at affordable rates in the State.

* It also aims to give free internet to over twenty lakh of poor families. While inaugurating Chief Minister said, by providing internet facilities at a lower rate, Kerala aims to bridge the digital divide in the society.

* It will lead the State forward in line with the changing world, he added. The Chief Minister informed that an internet connection would be provided to all Government offices and houses soon.

* During the first phase of the KFON initiative, Internet facilities will be provided to thirty thousand government institutions and fourteen thousand houses in the State..

Source : AIR

Correct Answer :   Prasoon Joshi

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The Central Board of Film Certification, a statute under the Ministry of Information & Broadcasting, have launched its revamped website (cbfcindia.gov.in) and the new Mobile App (e-Cine App) recently (2nd June 2023).

* This is one of the most important milestones for CBFC in its process of Phase II advanced Digitization since 2017, to bring more transparency and efficiency in the working.

* Shri Prasoon Joshi, the Chairman-CBFC launched the revamped website and newly developed Mobile App which aims at simplification of certification process by providing more valuable, user-centric, and inclusive features to filmmakers, applicants, and other users in general.

* The dynamically revamped CBFC website and the new Mobile App focus on making them user- friendly to learn, locate valuable information, and carry out simpler tasks by both applicants and CBFC officials, at their desks and on mobile devices.

* The new features of CBFC website offer a more comprehensive understanding of film certification, various Acts, Rules, Important Circulars/communications, Court Judgements, statistical information on certified films, updated FAQs, a Help Desk, Contacts, a user guide, and a video tutorial on registration, application process, real-time progress tracking, and search facility to the applicants.

* The revamped website of CBFC will provide timely updates on new and upcoming events, circulars, orders, notifications, etc. The registered users can continue to log in using their existing credentials.

* The newly developed Mobile App provides features such as real-time progress tracking of application status and intimation of tentative screening dates, a facility to respond to intimation and show cause notice, and uploading of required documents (including video of less than 10 minutes duration), thereby encouraging complete automation process and minimal human intervention. Also, the CBFC Officials can form and schedule screening committees, track application status, view notice responses, approve requests to change regional office, etc..

Source : cbfcindia.gov.in

Correct Answer :   Nitin Gadkari

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Highlighting its commitment towards Environment sustainability, NHAI’s first ‘Sustainability Report for FY 2021-22’ covers NHAI’s governance structure, stakeholders, environment and social responsibility initiatives.

* The report was recently released by Shri Nitin Gadkari, Union Minister for Road Transport and Highways.

* The Sustainability Report underlines the effectiveness of various efforts made by NHAI for environment and energy conservation. From FY 2019-20 till 2021-22 direct emission reduced by 18.44% and 9.49% due to less fuel consumption. NHAI continues to work towards reducing indirect emissions as well, by transiting towards clean and green energy sources.

* Green House Gas (GHG) Emissions from energy consumption, operations, transport and travel measured in Metric Tonnes CO2 equivalent /km constructed saw a decline of 9.7% in FY 2020-21 and 2% in FY 2021-22.  

* Similarly in operations, energy intensity in Giga Joules/km reduced by 37% in FY 2020-21 and 27% in FY 2021-22, while the kilometers constructed through the reporting period has risen steadily. With over 97% penetration, Electronic Toll Collection through FASTag has contributed to reduce the carbon footprint.

* Apart from this, NHAI has been using recycled materials for National Highway construction. Use of fly-ash and plastic waste in construction has increased over the last three years. NHAI has  been encouraging use of Recycled Asphalt (RAP) and Recycled Aggregates (RA) in the National Highway construction.

* In order to ensure sustainable environmental growth, more than 100 Wildlife Crossings were created in three years across 20 States as a measure for wildlife protection and conservation to reduce man-animal conflict.

* Over the years, NHAI has been undertaking plantation drives to develop eco-friendly National Highways. There has been a significant increase in number of saplings planted from 2016-17 till 2021-22. Around 2.74 crore saplings were planted till 2021-22 to offset direct emissions from the vehicles.

* NHAI has partnered with different stakeholders such as State Rural Livelihood Mission (SRLM), Self Help Groups, CSR partners and NGOs to collaboratively organize plantation drives. In July 2022, NHAI organized a nationwide plantation drive and planted around 1.1 lakh plants in a single day through simultaneous plantations at 114 identified locations across the country..

Source : PIB

Correct Answer :   Jacinda Ardern

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Former Prime Minister Jacinda Ardern received one of New Zealand’s highest honours for her service leading the country through a mass shooting and coronavirus pandemic.

* Ardern received the Dame Grand Companionship, New Zealand's second-highest honour, as part of the King Charles Birthday Honours.

* In New Zealand, royal honorees are typically chosen twice a year by the Prime Minister and signed off by Charles, the British king who is also recognised as New Zealand’s king.

* In a statement, Prime Minister of New Zealand, said that she was being recognised for her service during some of the greatest challenges our country has faced in modern times. .

Source : AIR

Correct Answer :   Eknath Shinde

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Maharashtra Chief Minister Eknath Shinde has launched Asia's largest, ambitious and historic cluster development scheme in Thane.

* While launching the scheme, Mr. Shinde said his much-awaited dream is coming into reality but he will be the happiest person in the world only on the day the beneficiaries of the scheme will receive the keys of their own house.

* This scheme was conceptualized for the collective redevelopment of unauthorized and official dangerous buildings after the collapse of the Sairaj Building in Thane which had claimed 18 lives.

* The redeveloped township plan includes well-equipped health, educational, sports, recreational, parking, mandi, and civic facilities.

* The CIDCO will execute the project. Under the project, the integrated redevelopment project will be done on the lines of townships.

* The occupants will get a 323 Sq ft ownership house. Chief Minister Shinde announced that the scheme will be implemented not only in Thane but also in Mumbai and the Mira-Bhayandar area of Thane district. He added that 10,000 houses will be constructed in the first phase of cluster development in Thane on 1500 acre area.

* He expressed confidence that the projects which are stalled or delayed will be completed with greater initiative with the help of CIDCO, MHADA, and BMC and those who had to migrate away from Mumbai will be brought back.

* Eknath Shinde also thanked Deputy Chief Minister Devendra Fadnavis for his cooperation and his guidance for this scheme during his tenure as the Chief Minister of the state...

Source : AIR

Correct Answer :   Sri Lanka

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The Union Minister of Ports, Shipping & Waterways and Ayush, Shri Sarbananda Sonowal flagged off the maiden International Cruise Vessel - MV Empress, India’s first international cruise vessel - from Chennai to Sri Lanka in Chennai 5th June 2023.

* This marks the beginning of the international cruise tourism terminal at Chennai, built at a cost of ₹17.21 crores, heralding a new age of cruise tourism & maritime trade in the country.

* Coinciding on the occasion of Enviornment Day, the Union Minister Shri Sarbananda Sonowal along with the port officials also planted 2500 tree saplings at the port today.

* Union Minister Shri Sarbananda Sonowal said, “Under the dynamic leadership of Prime Minister Shri Narendra Modi ji, the Ministry of Ports, Shipping & Waterways have been taking multiple steps to develop the avenues of cruise tourism in the country and bolster opportunities of maritime trade of India.

* With our rich heritage & culture around our coastal region, the potential of cruise tourism in India is immense. Today, as we launch the maiden cruise service between Chennai and Sri Lanka, it has ushered a new chapter in the cruise tourism sector in the country.

* As the affordability & access to world class cruise services becomes a reality, the people can enjoy & relish luxurious amenities, entertainment, and breathtaking views.”

* The cruise service is the result of an MoU signed during the first Incredible India International Cruise Conference in 2022 between Chennai Port and M/S Waterways Leisure Tourism Pvt Ltd to start domestic and international cruise service.

* With an overwhelming response by 85,000 passengers availing the cruise service through 37 vessels for the domestic circuit, it is expected that the opening up of international circuit will further amp up the business of cruise tourism in the region. The modern cruise terminal developed at Chennai Port is spread over an area of 2,880 square meters with an ability to host 3,000 passengers at a time.

* We expect that the volume of cruise ships will increase from 208 in 2023 to 500 in 2030 and upto 1100 by 2047. Consequently, the number of passengers availing cruise services is also likely to increase from 9.5 lakhs in 2030 to 45 lakhs in 2047.

* In order to boost demand for cruise services the western, southern and eastern coasts of India, we are working on Gujarat Pilgrimage tours, Cultural and Scenic Tours, Ayurveda Wellness Tours & Heritage Tourism. Plans are afoot to develop new cruise tourism terminal in Andamans, Puducherry and Lakshadweep circuits. We are also studying the feasibility of developing ferry circuits across India, Sri Lanka, Thailand and Myanmar.”

* The cruise service will sail to three Sri Lankan ports; viz. Hanbantota, Trincomalee, and Kankesanturei. The tour packages on board MV Empress will be offered for 2 nights, 3 nights, 4 nights and 5 nights. During its run at the sea, MV Empress will be touching 3 ports in Sri Lanka before returning to Chennai..

Source : PIB