27 June 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 27 June 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 27 June 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 – 27 June 2023

Singer-composer Shankar Mahadevan receives honorary doctorate in UK

Birmingham City University (BCU) in England has bestowed an honorary degree on renowned singer-composer Shankar Mahadevan. The renowned honour is in acknowledgment of his significant contributions to music and the arts. Shankar Mahadevan, 56 years old, is a prominent member of the highly accomplished music composing trio known as Shankar-Ehsaan-Loy. Professor Philip Plowden, Vice-Chancellor of Birmingham City University, presented him with an honorary doctorate during a ceremony in Birmingham.

Overview of the news:

• Following an organized visit by Mahadevan to Birmingham City University’s state-of-the-art campus, which boasts cutting-edge facilities for the creative industry, including the renowned Royal Birmingham Conservatoire (RBC), a doctoral ceremony was conducted. The BCU India and West Midlands India Partnership programme resulted in this occasion. The university’s campus, worth GBP 400 million, served as an appropriate background for the visit and ceremony.
• Earlier this year, the renowned Bollywood actor visited the Royal Birmingham Conservatoire (RBC) alongside fellow musicians, including Zakir Hussain. During the visit, they had the opportunity to engage with students, staff, and partners of the conservatoire. The visit’s goal was to forge relationships and explore future cooperation between the Shankar Mahadevan Academy in Bangalore and the RBC.
• Shankar Mahadevan, who originally pursued a career in engineering before becoming a successful musician, possesses a diverse repertoire that spans across various genres. Indipop, film music, folk and spiritual compositions, Indian classical music, jazz, and world music are among his musical accomplishments. Recognizing his remarkable achievements in the field of arts, he was honored with the prestigious Padma Shri award in 2019.

Assam’s First Underwater Tunnel To Come Up Under Brahmaputra

Introduction

Assam Chief Minister Himanta Biswa Sarma recently announced the construction of Assam’s first-ever underwater tunnel, connecting Numaligarh and Gohpur. This ground-breaking project, projected to cost Rs 6,000 crores, will be northeast India’s first rail-road tunnel beneath the Brahmaputra River. The project’s tenders are set to begin next month, marking an important milestone in the region’s transport infrastructure.

Feasibility and Government Support

Prime minister Modi has also given the green signal for the construction of the tunnel. The project received strong support from the high command in Delhi, showcasing the importance of collaboration between the state and central governments.

Enhanced Connectivity and Transformational Change

The construction of an underwater tunnel under the Brahmaputra River holds immense significance for Assam and the northeastern region. By connecting the north and south banks of the river, the tunnel will significantly improve connectivity between Numaligarh and Gohpur, making travel more convenient and efficient. With a length of around 15 km, it will bring about a dramatic change in the region’s transport system.

Benefits and Impact

The Numaligarh-Gohpur underwater tunnel is expected to provide substantial benefits to the region. It will enhance trade and commerce opportunities, improve connectivity for residents, and boost tourism. Currently, crossing the Brahmaputra River requires the use of ferries or bridges, which can be time-consuming and disrupted during the monsoon season. The underwater tunnel will mitigate these challenges and offer a reliable and efficient transportation alternative.

Commitment to Infrastructure Development

The proactive approach of the Assam government in pursuing this groundbreaking project reflects its commitment to advancing infrastructure development in the state. The tunnel holds the promise of boosting economic growth, attracting investments, and fostering regional integration. The tender procedure, which is slated to begin in July 2023, will move the project forward even further, marking a critical milestone for Assam’s transport infrastructure.

Symbol of Overcoming Barriers

Once completed, the Numaligarh-Gohpur underwater tunnel will not only enhance connectivity but also serve as a symbol of Assam’s determination to overcome geographical barriers and transform its transportation landscape. It represents a monumental achievement in bridging the north and south banks of the Brahmaputra River, demonstrating the state’s vision for a more connected and prosperous future.

Recent news related to Assam

Assam Chief Minister Himanta Biswa Sarma announced launch of 6 new tea gardens namely-

• Arun tea garden in Dhekiajuli town.
• Adabari & Sonabeel Tea Garden in Rangapara town.
• Kettla & Jingia Tea Garden in Behali viilage.
• Pabhoi in Biswanath town.

About Assam

• Chief minister: Himanta Biswa Sarma
• Official bird: White-winged duck
• Official dance: Bihu dance

Gautam Adani Launches ‘Jeetenge Hum’ With 1983 Heroes Ahead Of Cricket World Cup 2023

The Adani Group celebrated its Foundation Day, honoring the Indian cricket team that won the 1983 World Cup. The event, dubbed “Adani Day,” took place on the 61st birthday of the group’s founder, Gautam Adani. During the occasion, the Adani Group launched the “Jeetenge Hum” campaign, with the purpose of mobilising support for Team India and raising spirit ahead of the next ICC ODI Cricket World Cup 2023.

About the campaign

• The launch of the campaign commemorates the 40th anniversary of India’s historic victory in 1983. While launching the campaign, Gautam Adani emphasised the importance of cricket as a unifying force in the country. The initiative encourages Indian cricket fans to band together and rally behind Team India on Twitter and Instagram with the hashtag #JeetengeHum, supporting the team’s desire for victory and boosting morale.
• This campaign draws inspiration from the Adani Group’s ethos, “Kar ke dikhaya hai, Kar ke dikhayenge,” symbolizing an indomitable spirit of achievement in both cricket and business. The “Jeetenge Hum” campaign champions the belief that winners, having tasted victory before, will inevitably relish it again—an inner conviction that precedes their satisfaction and pride in the public eye.

Infosys signs $454 million deal with Danske Bank for digital transformation

Infosys and Danske Bank have entered into a long-term collaboration aimed at accelerating the bank’s digital transformation goals. The $454 million collaboration, which has the potential for three one-year extensions, is intended to help Danske Bank achieve its strategic goals of improving client experiences, operational efficiency, and implementing advanced technologies for a modernised technological environment. This collaboration is expected to bring speed and scalability to Danske Bank’s digital transformation journey.

As a component of their collaboration

• Infosys will purchase Danske Bank’s IT center in India for Danish Kroner (DKK) 13.6 million (approximately $2 million). The IT centre currently employs about 1,400 people. Infosys intends to strengthen the bank’s digital strategy by significantly boosting IT operations and capabilities. This improvement will be made possible by Infosys Topaz, a portfolio of services, solutions, and platforms based on generative AI technology.
• Based on the information disclosed in the exchange filing, Infosys anticipates that the transactions will be finalized by the second quarter of fiscal year 2024, pending the fulfillment of customary closing conditions. Danske Bank, which is based in Denmark, offers banking services to individuals, businesses, as well as large corporations and institutions.
• Salil Parekh, Chief Executive Officer and MD of Infosys, stated that the collaboration with Danske Bank aims to enhance their core business by leveraging digital, cloud, and data capabilities. The objective is to enable Danske Bank to deliver increased value to its customers through the utilization of advanced AI technologies, including generative AI.

Important takeaways for all competitive exams: 

• Infosys Founders: N. R. Narayana Murthy, Nandan Nilekani;
• Infosys  CEO: Salil Parekh (2 Jan 2018–);
• Infosys  Revenue: 1 lakh crore INR (2021);
• Infosys  Founded: 2 July 1981, Pune;
• Infosys  Headquarters: Bengaluru;
• Danske Bank CEO: Carsten Rasch Egeriis;
• Danske Bank Headquarters: Copenhagen, Denmark;
• Danske Bank Founded: 5 October 1871.

World MSME Day 2023: Date, Theme, Significance and History

Why in News?

Every year on June 27th, the world celebrates International Micro, Small, and Medium Enterprises (MSME) Day to emphasise the importance of MSMEs and how they play a critical part in being the backbone of the country’s economy.

World MSME Day 2023- Theme

In India, the subject for MSME Day 2023 is “Future-ready MSMEs for India@100.” This year’s theme of “Building a Stronger Future Together” is also being celebrated by the Global Council for the Promotion of International Trade. The global body is also launching #Brand10000MSMEs Network, a dynamic platform where MSMEs from around the world can connect, learn, and grow together.

World MSME Day 2023-History

• The United Nations (UN) designated 27th June as Micro, Small and Medium-sized Enterprises Day through a resolution passed in the UN General Assembly in April 2017.
• In May 2017, a programme titled “Enhancing National Capabilities for Unleashing MSMEs’ Full Potential in Achieving the Sustainable Development Goals (SDGs) in Developing Countries” was launched.
• It has been funded by the 2030 Agenda for Sustainable Development Sub-Fund of the United Nations Peace and Development Fund.

What is MSME? – An Introduction

MSME is an acronym that stands for Micro, Small, and Medium Enterprises. According to the Micro, Small, and Medium Enterprises Development (MSMED) Act of 2006, enterprises are divided into two categories.

1. Manufacturing enterprises – engaged in the manufacturing or production of goods in any industry
2. Service enterprises – engaged in providing or rendering services

Features of MSMEs 

Here are some of the essential features of MSMEs

1. MSMEs are known to provide reasonable assistance for improved access to the domestic as well as export markets for businesses
2. MSMEs support product development, design innovation, intervention, and packaging elements of a business
3. MSMEs advocate for the advancement of technology, infrastructure, and the overall modernisation of the sector.
4. MSMEs provide employment opportunities and loans
5. MSMEs provide credit limits or funding support to various banks in the country

Role of MSME in Indian Economy:

• They are the growth accelerators of the Indian economy, contributing about 30% of the country’s Gross Domestic Product (GDP).
• In terms of exports, they are an integral part of the supply chain and contribute about 48% of the overall exports.
• MSMEs also play a key role in job creation, employing over 110 million people across the country.
• Interestingly, MSMEs are intertwined with the rural economy as well, as more than half of the MSMEs operate in rural India.

Alappuzha doctor K. Venugopal bags IMA award

Indian Medical Association has selected Dr. K. Venugopal, chief consultant in respiratory medicine at General Hospital, Alappuzha (City in Kerala) for the Indian Medical Association (IMA) awards under the category of community service. On July 1, 2023, he will receive the honour at the IMA headquarters in New Delhi.

About National doctors’ day

• For the past 32 years, India has observed National Doctors’ Day on July 1st.
• It is celebrated to honour the legendary and renowned doctor Bidhan Chandra Roy, a politician, a freedom fighterand an advocate for education.
• The theme for National Doctors’ Day 2022 was “Family Doctors on the Front Line.”

About Indian Medical Association

• It was Formed in 1928 & is Headquartered in New Delhi.
• President of Indian Medical Association is Sahajanand Prasad Singh.

Nobel laureate John Bannister Goodenough passes away

Co-inventor of lithium-ion batteries and co-winner of the 2019 Nobel Prize in Chemistry, John Bannister Goodenough passed away at 101.

He shared the 2019 Nobel Prize with Stan Whittingham, a British-American scientist, for discovering that lithium may be held within sheets of titanium sulphide.

He was also instrumental in the invention of computer RAM (Random Access Memory).

He also worked at the Massachusetts Institute of Technology and Oxford University.

ADB to provide 400 million US dollars in loans to Bangladesh

The Asian Development Bank has signed an agreement with Bangladesh to provide a 400 million US dollars loan for the construction of 102 km-long dual gauge railways between Chattogram and Cox’s Bazar to promote trade, investment, and tourism.

Aim: To transport 2.9 million passengers annually between Chattogram and Cox’s Bazar by 2024

Chattogram-Cox’s Bazar Railway is part of the Trans-Asia Railway network, an initiative led by the UN.

Hasaranga becomes first ODI spinner to take 3 consecutive 5-wicket hauls

Wanindu Hasaranga of Sri Lanka has achieved a remarkable feat in cricket by becoming the first spinner and second overall player in history to take three consecutive 5-wicket hauls in the One Day Internationals (ODIs).

It was achieved, when Sri Lanka bundled out Ireland at 192 to secure the Super Six spot in ICC Cricket World Cup 2023 Qualifiers match.

He has placed himself equal to the legendary Pakistani bowler Waqar Younis.

S&P Retains India’s Growth Projection at 6% for FY24; Fastest Growing Economy in Asia Pacific

S&P Global Ratings, a renowned credit rating firm, has kept India’s GDP growth forecast at 6% for fiscal year 2023-2024. This forecast positions India as the fastest growing economy among the Asia Pacific nations. The rating agency’s decision to maintain the growth outlook is based on the country’s domestic resilience.

India, Vietnam, and the Philippines Lead the Growth Chart

According to S&P Global Ratings’ quarterly economic update for the Asia-Pacific region, India, Vietnam, and the Philippines are expected to experience the highest growth rates, each projected at around six percent. These countries’ medium-term growth prospects remain positive. According to S&P, Asian emerging market economies will continue to be among the fastest expanding in the global growth forecast through 2026.

Inflation Expected to Soften; Interest Rate Cut Delayed

S&P Global Ratings predicts that retail inflation in India will likely ease to five percent in the fiscal year 2023-2024, down from 6.7 percent in the previous year. Fuel and core inflation are expected to fall as a result of lower oil costs and a slowing in demand, respectively. However, according to S&P, the Reserve Bank of India (RBI) would delay interest rate decreases until early 2024. The RBI expects consumer inflation to rise to the four percent target range.

China’s Growth Forecast Lowered; Resilience Seen in Rest of the Region

S&P Global Ratings has revised down China’s growth forecast for 2023 to 5.2 percent from the previous estimate of 5.5 percent. However, the agency has left the growth projections for the rest of the region broadly unchanged, citing domestic resilience as a contributing factor.