NATIONAL:
1. New Parliament Building
Why in news - PM Narendra Modi inaugurated the new Parliament building on May 28, 2023.
Key Points –
• It coincided with the birth anniversary of Hindutva ideologue V D Savarkar.
• The government has announced a commemorative Rs 75 coin to mark the historic event.
• It can comfortably seat 888 members in the Lok Sabha (LS) chamber and 384 in the Rajya Sabha (RS) chamber.
• Joint session seating capacity - 1,272 members (additional seats - 1,140).
• Project cost - Rs 971 crore (initial cost - Rs 861.9 crore).
• Built by - Tata Projects Ltd.
• The triangular shape of the Parliament building is meant to ensure optimum space utilisation.
• It has 3 main gates - Gyan Dwar, Shakti Dwar and Karma Dwar.
• It is just one part of the Modi government's ambitious Central Vista project.
• Designed by - HCP Design Planning Private Limited (Architect -Bimal Patel, Ahmedabad-based).
• New LS is also approximately 3 times the size of the old Lok Sabha and its design takes inspiration from the peacock, India's national bird!
• New Rajya Sabha is designed after a lotus.
• It is meant to function for the next 150 years.
• Since Delhi is in seismic zone-V, the building is primed to be earthquake-safe.
2. 8th Governing Council Meeting
Why in news - PM Narendra Modi chaired the 8th Governing Council Meeting of NITI Aayog.
Key Points –
• Attended by Chief Ministers/Lt.Governors representing 19 States and 6 UTs.
• He urged states and UTs to work as Team India for a Viksit Bharat @ 2047.
About NITI Aayog (January 1, 2015) –
• Full form - National Institution for Transforming India.
• Created by executive resolution (neither constitutional non statutory).
• Chairman - Prime Minister.
• Primary objective - Serve as think tank of the Government of India, Helps in policy design, Helps in monitoring schemes’ through its dashboard e.g. ‘SDG India Index’.
Value Addition –
• Output Outcome Monitoring Framework - Helps in monitoring of the budgetary outlays, targets & progress of schemes against the output/outcome indicators.
INTERNATIONAL:
1. Recep Tayyip Erdogan
Why in news - President Tayyip Erdogan claimed victory in Turkey’s presidential election.
Key Points –
• He defeated Kemal Kilicdaroglu (Turkey's Gandhi).
ECONOMY:
1. NPA Management
Why in news - Bank of Maharashtra (BoM) emerged as a top performer in non-performing assets (NPA) management during FY23.
Key Points –
• BoM’s net NPA fell as low as 0.25% during the financial year ended March 2023.
• This is the lowest ratio among all banks having total business above Rs 3 lakh crore and not just public sector banks (PSBs).
• Other Top Performers –
(a) HDFC Bank (0.27%)
(b) Kotak Mahindra Bank (0.37%)
• Top Performers in PSBs –
(a) Bank of Maharashtra (0.25%)
(b) State Bank of India (0.67%)
(c) Bank of Baroda (0.89%).
• Highest Capital Adequacy Ratio (CAR) –
(a) Bank of Maharashtra (18.14%)
(b) Punjab & Sind Bank (17.10%)
(c) Canara Bank (16.68%)
Value Addition –
• NPA-related definitions in Banking Sector –
(a) Standard assets - Loan account where borrower is repaying the principal and interest in timely fashion.
(b) NPA - If loan principal or interest is not paid for more than 90 days from its due date, then such loan account is classified as NPA. For farm loans, NPA is not counted on number of days but on number of cropping seasons.
(c) Provisioning - As per RBI norms, banks must set aside funds to cover losses against their NPA.
(d) NET NPA - Grand total of all NPA loans (Gross NPA) minus Provisioning.
(e) Substandard asset - An asset classified as an NPA for less than 12 months.
(f) Doubtful Asset - An asset that has been nonperforming for more than 12 months.
(g) Evergreening of loans - When a borrower taking a new loan to pay off his old loan.
• Capital Adequacy Ratio (CAR) –
(a) Ratio of a bank's capital in relation to its risk weighted assets and current liabilities.
(b) Decided by Central banks and bank regulators to prevent commercial banks from taking excess leverage and becoming insolvent in the process.
SECURITY:
1. Sudarshan Shakti Exercise 2023
Why in news - The Sapta Shakti Command of the Indian Army conducted exercise “Sudarshan Shakti 2023”.
Key Points –
• Venue - Along the western borders in Rajasthan and Punjab.
IMPORTANT DAYS:
1. International Day of UN Peacekeepers
Why in news – It is celebrated every year across the globe on May 29.
Key Points –
• Theme - Peace Begins With Me.
• 2023 - 75th year of operation of UN peacekeeping.
Value Addition -
• 1st UN peacekeeping effort - Middle East (1948) to monitor the armistice agreement between Israel and its Arab neighbors under United Nations Truce Supervision Organization (UNTSO).
• Dag Hammarskjöld medal (December 2000) - A posthumous award to members of peacekeeping operations who lost their lives during service with a peacekeeping operation.
• Blue Berets or Blue Helmets - UN peacekeepers are referred to as Blue Helmets because they wear light blue helmets.
• It seeks to have 20% women in formed police units and 30 percent individual police officers in the peacekeeping forces by 2028.
• India was the first nation in 2007 to deploy an all-women contingent to a UN peacekeeping mission in Liberia.
AWARDS & HONOURS:
1. Dag Hammarskjöld Medal
Why in news – Head Constables Shishupal Singh and Sanwala Ram Vishnoi of the Border Security Force were posthumously awarded.
Key Points -
• They lost their lives while serving under the UN flag in the Democratic Republic of Congo in 2022.
• India's Ambassador to UN Ruchira Kamboj received the medals from the Secretary-General António Guterres on their behalf.
• They were part of MONUSCO (UN Organization Stabilization Mission in the Democratic Republic of the Congo).
Value Addition –
• India is the fifth largest troop contributor (TCC).
• A total 175 Indian peacekeepers have so far died while serving with the United Nations.
• India’s contribution to UN Peacekeeping began with its participation in the UN operation in Korea in the 1950s
• It is the highest honour awarded to UN peacekeepers.
• It is named after the second Secretary-General of the United Nations, Dag Hammarskjold.
About Democratic Republic of Congo –
• Location - Central Africa.
• Bordering countries - Central African Republic, South Sudan, Uganda, Rwanda, Burundi, Tanzania, Zambia and Angola.
• Marginally opens in Atlantic Ocean.
• Congo Basin (6 countries) - Cameroon, Central African Republic, Democratic Republic of the Congo, Republic of the Congo, Equatorial Guinea and Gabon.
POINTERS:
• Which Indian firm was included in the Top-50 Most Innovative Firms – Tata.
• Who has been appointed as the new Master General Sustenance (MGS) of the Indian Army - Amardeep Singh Aujla.
• Which bank started live video chat and webchat for its customers - Bank of Baroda.
• Ketu Viswanatha Reddy has passed away. He was a famous – novelist.
• Which ministry launched the Pancha karma Sankalp program - Ministry of Ports, Shipping and Waterways.
• “Hamar Sughar Laika Abhiyan” is related to which state – Chhattisgarh.
• YSR Matsyakara Bharosa Scheme is related to which state - Andhra Pradesh.
• Who is the author of the launch book "Partitioned Freedom" - Ram Madhav.
• Who became the first turban-wearing Lord Mayor of UK City Coventry - Jaswant Singh Birdi.
• Which bank has launched digital onboarding platform “SAARTHI” for POS terminals - Axis Bank.