25 May 2023 Current Affairs – The Day’s Top News | GKSERIES

Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 25 May 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.

So, here is the Top News of the Day for 25 May 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

Current Affairs for Competitive Exam – 25 May 2023

Industrialist And Philanthropist Karumuttu T Kannan Passes Away At 70

Karumuttu T Kannan, a well-known industrialist and philanthropist who was the Chairman and Managing Director of Thiagarajar Mills Ltd in Madurai, died at the age of 70. He was the son of Karumuttu Thiagarajan Chettiar, the renowned industrialist and philanthropist who established Thiagarajar Mills in 1936.

Karumuttu T Kannan, born May 9, 1953, earned a bachelor’s degree in business administration from Madurai University. Throughout his career, he had extensive involvement with various organizations in the fields of industry, education, and charity. He held important positions in the textile business, including Chairman of the CII, Southern Region, Textiles Committee in Mumbai, The Cotton Textile Export Promotion Council in Mumbai, and The South India Mills’ Association.

Kannan was highly regarded as an educationalist, currently serving as the President of Thiagarajar College in Madurai, as well as the Chairman & Correspondent of Thiagarajar College of Engineering in Madurai. His contributions extended to being a member of the Syndicate Anna University in Chennai, the Board of Governors of IIM, Indore, and the Board of Governors of the National Institute of Technology in Trichy.

Kannan also held the prestigious position of Thakkar of Arulmigu Meenakshi Sundareswarar Thirukoil in Madurai. His knowledge included financial management, corporate finance, business administration, and regulatory compliance and governance.

India And Australia Sign Agreements On Migration And Green Hydrogen Task Force

In a significant move emphasising India-Australia connections, the two countries signed critical agreements on migration and mobility partnerships, as well as the formation of a Green Hydrogen task force. The Memorandum of Understandings (MoUs) were exchanged following a bilateral meeting between Indian Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese in Sydney.

Mutual Trust and Confidence in India-Australia Ties

Prime Minister Modi emphasized that the India-Australia relationship is built upon mutual trust and confidence. During their constructive discussions, both leaders focused on enhancing strategic cooperation in the mining and critical minerals sector. The discussions focused on expanding the two countries’ comprehensive strategic alliance to new heights. Prime Minister Modi extended an invitation to Prime Minister Albanese and all Australian cricket fans to visit India for the upcoming Cricket World Cup this year in a goodwill gesture.

Addressing Security Concerns and Promoting Friendly Ties

The Prime Minister also brought up the issue of attacks on temples in Australia and the activities of separatist elements. He confirmed that this matter had been previously discussed with his Australian counterparts, and it was once again a topic of discussion during the meeting. Prime Minister Modi stressed that any aspects or acts that jeopardise the two countries’ friendly and warm ties would not be tolerated. He further claimed that Prime Minister Albanese has told him that strict action will be taken against similar elements in the future.

Shared Ambitions for Economic Cooperation and Digital Innovation

Prime Minister Albanese expressed the shared ambition of both nations to conclude the Australia-India Comprehensive Economic Cooperation Agreement later this year. This agreement aims to further strengthen economic ties and facilitate greater trade and investment between the two countries. Additionally, Prime Minister Albanese announced the establishment of a new Australian Consulate General in Bengaluru, which will serve as a vital connection between Australian businesses and India’s thriving digital and innovation ecosystem.

Ceremonial Welcome and Reinforcing Bilateral Relations

During his visit to Australia, Prime Minister Modi was accorded a ceremonial Guard of Honour, symbolizing the respect and importance attached to his visit. This trip to Australia marks the final leg of his three-nation tour, showcasing the significant priority both India and Australia place on their bilateral relationship. Notably, this visit comes just two months after the state visit of the Australian Prime Minister to India in March this year, highlighting the frequent high-level engagements between the two nations.

Yes Bank Collaborates With Red Hat To Redefine Mobile Banking Experience

Red Hat, Inc., the worlds leading provider of open source solutions, announced that YES BANK has adopted Azure Red Hat OpenShift to transform their mobile banking applications. Azure Red Hat OpenShift will further expedite the digital journey of YES BANK with faster time to market, more flexibility and ability to drive greater innovation.

It will enable YES BANK to improve customer experience and provide innovative banking solutions. It will have the agility and flexibility to increase the demand and also support creating a seamless customer experience across multiple banking solutions.

YES BANK is a full-service commercial bank providing a complete range of products, services, and technology-driven digital offerings. The bank believes that a holistic customer experience is the epicenter of digital transformation and has been at the forefront of adopting new-gen technologies to provide innovative experiences to its customers. Azure Red Hat OpenShift will empower the bank’s pursuits to remain ahead of the curve and help them to create next-gen mobile applications. These applications will help create a seamless customer experience across multiple banking solutions. The platform would also provide security features and agility to YES BANK to more safely innovate and pivot faster to meet the evolving demands of the market.

Kilo-Class Submarine Ins Sindhuratna Reaches India

A Sindhughosh class submarine, INS Sindhuratna has been returned to Mumbai (India) after undergoing a major refit at Naval Dockyard in Russia, after sailing for 97 days.

The ship returned passage through the Norwegian Sea, English Channel, and the Mediterranean Sea. It had gone for an upgrade in Severodvinsk after a major accident in February 2014.

INS Sindhuratna is a Russian Type 877EKM diesel-electric submarine. It is popularly called a NATO-defined Kilo-class sub.

Who Appoints Renee Fleming And Pretty Yende Ad Goodwill Ambassadors

The World Health Organization (WHO) has appointed Renée Fleming and Pretty Yende as the Goodwill Ambassadors for Arts and Health.

Renée Fleming, one of the most celebrated singers of our time, and Pretty Yende, an extraordinary soprano known for her dazzling performances, have been selected for their artistic achievement and advocacy for improved health outcomes through creative means. On 8 April 2023, Fleming and Yende performed for a special concert titled Healing Arts, dedicated to WHO’s 75th anniversary in Geneva, Switzerland. They would join other distinguished WHO Goodwill Ambassadors such as Alisson, Natalia Becker, Didier Drogba, Michael Bloomberg, Cynthia Germanotta, Gordon Brown, and James Chau, among others. Dr Tedros Adhanom Ghebreyesus, WHO Director-General, said, “WHO is honoured to have Renée Fleming and Pretty Yende join as Goodwill Ambassadors for Arts and Health. Their unparalleled talent, dedication to the arts, and commitment to advancing health and well-being make them ideal ambassadors for this important cause. Their involvement will inspire individuals, communities and policy-makers to recognize and harness the transformative power of the arts in the pursuit of better health for all.”

RBI Approved The Reappointment Of Vijay Shekhar As Part-Time Chairman

The Reserve Bank of India (RBI) has given its approval to Paytm Payments Bank for the re-appointment of Paytm CEO, Vijay Shekhar Sharma as part-time chairman for a year, effective from May 23, 2023.

At present, One97 Communications owns a 49% stake in Paytm Payments Bank and Vijay Shekhar Sharma holds the remaining stakes in the entity. Vijay Shekhar Sharma is the promoter of Paytm Payments Bank. Paytm Payments Bank: It was founded in 2017 and is headquartered in Noida.

In terms of the top-line front, Paytm’s revenue from operations stood at ₹2,334.5 crore in Q4FY23, registering a growth of 51.5 per cent from ₹1,540.9 crore in Q4FY22 and up by 13.2 per cent from ₹2,062.2 crore. Also, due to sustained improvement in contribution profit and operating leverage, Paytm achieved EBITDA before ESOP valued at ( ₹176 crore) and further reported improved EBITDA by ₹602 crore year-on-year. On May 23, shares of One97 Communications settled 1.78 per cent higher at ₹719.55 apiece on the BSE.

Georgi Gospodinov Wins The International Booker Prize 2023 For Time Shelter

Georgi Gospodinov (Bulgarian writer) and Angela Rodel (translator) bagged the 2023 International Booker Prize for their book ‘Time Shelter’.

It is the first book originally written in Bulgarian to be nominated for the award. The prize has recognized fiction translated into English and published in the United Kingdom or Ireland in the year leading up to the award.

Prize money: 50,000 pounds (about $62,000) shared equally between the author and translator.

About Georgi Gospodinov:

Georgi Gospodinov (born January 7, 1968) is a Bulgarian writer, poet and playwright. He is one of the most translated and internationally awarded Bulgarian writers and one of the leading voices of contemporary European literature. His complex narratives are engaged with the memory of the recent Eastern-European past and the present anxieties of Europe and the world.

Govt To Cut Fame-Ii Subsidy On Electric 2-Wheelers From June 2023

The Heavy Industries Ministry notified that the government would reduce the subsidy provided under the FAME-II scheme applicable to electric two-wheelers registered on or after June 1, 2023.The Heavy Industries Ministry notified the changes. For electric two-wheelers, the demand incentive will be Rs 10,000 per kWh. The cap on incentives for electric two-wheelers will be 15 per cent of the ex-factory price of vehicles from 40 per cent at present.

The Faster Adoption and Manufacturing of Electric and Hybrid Vehicles (FAME) India scheme commenced on April 1, 2019, for a period of three years, which was further extended for a period of two years up to March 31, 2024. FAME India Scheme is a part of the National Electric Mobility Mission Plan.

Kerala Becomes India’s First Fully E-Governed State, Achieving Total E-Governance

Kerala, India’s southernmost state, is preparing to make history as the country’s first “total e-governed state.” Kerala attained this milestone by building on its legacy as India’s first fully-literate state through a series of legislative initiatives targeted at transforming the state into a digitally-empowered society. With a focus on a knowledge-based economy and 100% digital literacy, the government has digitized the delivery of vital services across various domains, ensuring transparency, inclusivity, and accessibility for all citizens.

Kerala’s Quest for Digital Empowerment:

Kerala went on a journey to create a completely e-literate society decades after achieving universal literacy. Recognising the power of digital technology to improve administration and public service delivery, the state government launched a number of projects aimed at achieving entire e-governance. The vision for transparent and speedy service delivery to all citizens has been a key driving force behind these efforts.

Digitization of Vital Services

Under the comprehensive e-governance framework, Kerala has successfully digitized the delivery of all vital services. Key domains such as health, education, land revenue, documentation of properties, public distribution system, and social security payouts have been integrated into the digital ecosystem. By eliminating physical paperwork and leveraging technology, the government has streamlined processes, making services more efficient and accessible.

E-Sevanam: A Single-Window Service Delivery Mechanism

e-Sevanam, a unified single-window service delivery mechanism, is crucial to Kerala’s e-governance infrastructure. This platform brings together over 800 government services online, enabling citizens to avail themselves of various services conveniently. With user-friendly interfaces and state-of-the-art technology, e-Sevanam ensures a seamless experience for users, facilitating quick and hassle-free access to government services.

Inclusion and Accessibility for All

Kerala’s total e-governance initiative emphasizes the inclusion of all sections of society, including the less privileged and marginalized. The government has made it easier for individuals, regardless of their socioeconomic background, to access key services by digitising service delivery. This commitment to inclusivity aligns with the state’s long-standing tradition of social welfare and equitable development.

Digital Platforms Empowering Government Offices

To support the implementation of e-governance at all levels, the state IT Mission has developed digitized platforms and applications. Notably, the e-Office File Flow system has been introduced, enabling seamless digital workflows even at the village office level. This integration of technology ensures efficient administration and enhances the overall governance process.

DR. K. Govindaraj elected as new president of basketball federation of India

Dr. K. Govindaraj has been elected President of the International Basketball Federation (FIBA) in Asia. He is a member of the Congress Legislative Council. He also serves as President of the Basketball Federation of India and the Karnataka Olympic Association. Govindaraj was unanimously nominated to take over as President of FIBA Asia. This is the first time that an Indian has been nominated as the President of FIBA Asia. The nomination was approved by the FIBA Asia Congress, making Govindaraj the first Indian to manage the International Basketball Federation in Asia, which has 44 member countries.

Govindaraj has replaced Qatar’s Sheikh Saud Ali Al Thani, who was serving his fourth five-year term as head of FIBA Asia since 2002. After confirmation of the post, Govindraj had stated that it’s an honour for the entire Indian sports fraternity to get an opportunity and responsibility to be at the helm of affairs of Asian basketball, and help develop basketball in Asia.

About the International Basketball Federation (FIBA):

The International Basketball Federation (FIBA) is the governing body for the sport of basketball worldwide. Established in 1932 and headquartered in Switzerland, FIBA is responsible for overseeing and regulating international basketball competitions, including the FIBA Basketball World Cup, Continental Championships, and the Olympic basketball tournaments. FIBA establishes game rules and regulations, encourages basketball development globally, and seeks to advance and promote the sport at all levels. FIBA is also in charge of accrediting and organising international basketball referees and coaches.

Important takeaways for all competitive exams: 

• International Basketball Federation Founded: 18 June 1932;
• International Basketball Federation Headquarters: Mies, Switzerland;
• International Basketball Federation President: Hamane Niang.