28 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 28 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 28 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 – 28 May 2023

R Dinesh appointed as CII president for 2023-24

The National Council of Confederation of Indian Industry (CII) has elected R Dinesh as the president of CII for 2023-24.

He is an executive vice-chairman of TVS Supply Chain Solutions. He has replaced Sanjiv Bajaj, the chairman and managing director, Bajaj Finserv Limited. Sanjiv Puri (chairman and managing director of ITC Ltd) has taken over as president-designate of CII for the year 2023-24. Rajiv Memani has taken over as vice-president of CII for the year 2023-24.

R Dinesh Appointed as CII President for 2023-24: Key Points

• Mr. Dinesh is a fourth-generation TVS family member. He has been engaged with CII for many years at the state, regional and national levels.
• Mr. Dinesh succeeds Bajaj Finserv Ltd, CMD Sanjiv Bajaj as per the statement released by the Confederation of Indian Industry.
• Mr. Dinesh started TVS Supply Chain Solutions (erstwhile known as TVS Logistics) in 1995. The company, under his leadership, has grown multifold to become a billion-dollar company.
• The company has a presence across continents making it a truly global company and serving customers in over 50 countries.
• Mr. Dinesh has won many awards including ‘Icon of the Year’ from the ICT Academy of Tamil Nadu for the year 2018, the Entrepreneur of the Year Award for the ‘Services’ category by Ernst & Young in 2017.
• He is also the recipient of TiECON’s “Next Gen Entrepreneur of the Year 2014” award and ‘Emerging Entrepreneur’ award by CII in 2010.

Magnus Carlsen won Superbet Rapid and Blitz Poland 2023

Norwegian chess GM, Magnus Carlsen has won the Superbet Rapid and Blitz Poland 2023, held at the Museum of the History of Polish Jews in Warsaw, Poland.

He finished with a score of 24/36 and won the cash prize of $40,000. Jan-Krzyzstof Duda (Polish), who placed second ended with 23/36. While the USA’s Wesley So and France’s Maxime Vachier-Lagrave finished in a tie for third. The 2023 Grand Chess Tour continues with the SuperUnited Rapid & Blitz in Zagreb Croatia.

Magnus Carlsen Won 2023 Superbet Rapid and Blitz Poland: Key Points

• Carlsen’s match day started with a victory against Vachier-Lagrave, extending his win streak from the end of the previous day to seven.
• He was then held to a draw by Romanian Grandmaster Bogdon-Daniel Deac before going on to defeat Radoslaw Wojtaszek (Poland), Kirill Shevchenko (Romanian), and another Romanian Richard Rapport in consecutive rounds to overtake the lead.
• Then draws with Anish Giri (Netherlands) and Levon Aronian (America), putting Carlsen a full point ahead of the previous day’s leader, Duda.
• Going into the final round, Duda needed to defeat Carlsen with black pieces to catch up and force a playoff. Despite losing an exchange out of the opening, Duda managed to survive into the endgame and completely turn it around.
• But in the time scramble, the Pole missed a few chances and Carlsen managed to hold after 124 moves of play, clinching the title.
• The 2023 Grand Chess Tour continues with the SuperUnited Rapid & Blitz in Zagreb Croatia, taking place from July 3-10, and Saint Louis in the USA (November 12 – 19).
• It will conclude with the final classical event, the Sinquefield Cup, to be held from November 19 – December 3 in Saint Louis, Missouri, USA.

Central government notifies appointment of CJ of Himachal Pradesh HC

The Central government has notified the appointment of Justice MS Ramachandra Rao as the Chief Justice (CJ) of Himachal Pradesh HC. He has succeeded CJ Amjad Sayed, who retired in January 2023.

In addition, Justice SV Gangapurwala was appointed as the CJ of Madras HC. Presently, Justice S Vaidyanathan has been serving as the Acting CJ of Madras High Court. Justice Ramesh Dhanuka has been appointed as the Chief Justice of Bombay HC with a tenure of four days.

The Supreme Court Collegium under Chief Justice of India (CJI) DY Chandrachud had recommended the elevation of Justice Rao last month.

It had reasoned that the Telangana High Court (Justice Rao’s parent High Court), presently has no representation among the Chief Justices of the High Courts. Justice MS Ramachandra Rao was appointed as a judge of the High Court of Andhra Pradesh on June 29, 2012. On bifurcation of the State of Andhra Pradesh, he opted for Telangana as his parent High Court. He was transferred as a judge of the High Court of Punjab and Haryana on October 12, 2021, where he is currently serving as a judge.

Three indian peacekeepers honored with dag Hammarskjold Medal

Three Indians have been honored posthumously with the Dag Hammarskjold Medal. India’s Permanent Representative at UN Ambassador Ruchira Kamboj has received the medal in honor of three Indian peacekeepers who lost their lives in the line of duty in 2022

BSF Head Constables Shishupal Singh and Sanwala Ram Vishnoi have served with the Organisation Stabilisation Mission in the Democratic Republic of the Congo. While Shaber Taher Ali served in a civilian capacity with UNAMI.

RBI imposes RS 84.50 lakh penalty on Central Bank Of India

The RBI has imposed a penalty of Rs 84.50 lakh on the Central Bank of India for non-compliance with norms related to fraud classification and reporting.

The RBI had conducted a statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2021.

The reports revealed that the bank had failed to report as fraud to RBI certain accounts within seven days of the decision of the JLF to declare the accounts as fraud. The RBI had issued a notice to the bank advising it to show cause as to why penalty should not be imposed on it for failure to comply with the directions.

“After considering the bank’s reply to the notice and oral submissions made during the personal hearing, RBI came to the conclusion that the charge of non-compliance with the aforesaid RBI directions was substantiated and warranted imposition of monetary penalty…,” the central bank said.

RBI, however, added the penalty is based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank with its customers.

Equitas SFB Collaborates With IBM For Digital Banking Platform

Equitas Small Finance Bank has signed an agreement with International Business Machines (IBM) to design and build a digital banking platform.

Aim: To provide a secure experience to customers

The collaboration will boost the digital products offered by Equitas as well as its service offerings, as it evolves its business for a digital-first generation. Equitas SFB aims to commence its modernization journey with a cloud-native platform architecture.

As part of the next growth phase, Equitas aims to commence its modernisation journey with a cloud-native platform architecture. “The bank’s delivery model would be highly product-centric, moving away from traditional program management methodologies to agile frameworks for the various channels including mobile,” Equitas’s Chief Information Officer Narayanan Easwaran said in the release.

“This partnership with IBM is just the first step towards engaging customers. We are confident that this strategic partnership will help simplify and transform the banking experience for customers across the board,” Easwaran said.

Phonepe Becomes First Payment App To Link 2 Lakh Rupay Credit Cards To Upi

PhonePe has become the first digital payments app to successfully enable the linkage of two lakh RuPay credit cards to the Unified Payments Interface (UPI).

Besides, it has also processed a total payment value (TPV) of Rs 150 crore via RuPay credit on UPI. PhonePe offers a comprehensive suite of solutions for RuPay Credit on UPI in partnership with NPCI. It has already enabled the acceptance of RuPay Credit Cards on UPI across 12 million merchant outlets.

PhonePe Becomes the First Payment App to Link 2 Lakh Rupay Credit Cards to UPI : Key Points

• This widespread acceptance has ensured that customers have ample opportunities to utilize their Rupay credit cards for transactions through UPI.
• Credit cards work on a deferred payment basis, allowing customers to use products or services now and pay for them later.
• With the integration of Rupay credit cards into the UPI ecosystem, users now have an added advantage as they can seamlessly utilize their credit cards through the UPI platform, providing a viable alternative to swiping a physical debit or credit card. Several lenders across the country have already linked their Rupay credit cards to the Unified Payments Interface (UPI) network.
• Mehul Mistry, Global Head informed that linking credit cards to UPI apps will allow credit card customers to participate and leverage the UPI QR ecosystem created by offline payment players like PhonePe, G-Pay, etc. to make fast, secure, and convenient payments to small merchants, along with the benefits of credit cards, including rewards.
• PhonePe aims to collaborate closely with the National Payments Corporation of India (NPCI) to further expand the penetration of Rupay Credit in the country through enhanced functionalities.
• PhonePe has also been pushing customers to embrace Rupay credit cards through UPI through intuitive nudges within its app.

HDFC Bank Partners Manipal Global To Build Up A Talent Pipeline

HDFC Bank has partnered with Manipal Global Academy of BFSI to launch its Future Banker 2.0 programme.

Aim: To groom young graduates into banking professionals within a year

The nationwide recruitment initiative seeks to establish a talent pipeline for the bank’s retail banking division. The one-year professional diploma incorporates classroom sessions, guest lectures, role plays, and practical fieldwork. It also includes eight months of paid internship.

World Meteorological Congress Approves Global Greenhouse Gas Watch

The World Meteorological Congress has approved a new greenhouse gas monitoring initiative to support urgent action to reduce heat-trapping gases which are fuelling temperature increase.

Aim: To fill critical information gaps and provide an integrated, operational framework

The framework will bring all space-based and surface-based observing systems, as well as modeling and data assimilation capabilities, under one roof. It was supported by the WMO’s 193 Members.

Bank Of Maharashtra Tops PSU Lenders Chart In Profit And Loan Growth

Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in terms of loan and deposit growth in percentage terms during 2022-23.

BoM has also recorded the highest growth in profitability with the bottom line growing almost 126% to Rs 2,602 crore during the year.

In terms of percentage increase in gross advances, BoM recorded a 29.4% rise in loans at Rs 1,75,120 crore as of March 2023. It was followed by Indian Overseas Bank and UCO Bank.