7 July 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 7 July 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 7 July 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 – 7 July 2023

Kiswahili Language Day 2023: Date, Theme, Significance and History

On July 7, the United Nations Educational, Scientific, and Cultural Organisation (UNESCO) observed World Kiswahili Language Day. The United Nations established the Kiswahili language section of United Nations Radio in the 1950s, and Kiswahili is now the only African language inside the United Nations Directorate of Global Communications. Kiswahili is the first African language to receive this distinction. Swahili, or kiSwahili, is another name for Kiswahili. The day offers a platform to promote the potential of Kiswahili to achieve both the UN Agenda 2030 for Sustainable Development and the African Union Agenda 2063.

Daily Current Affairs Quiz: July 2023

Why July 7?

On July 7, 1954, the Tanganyika African National Union (TANU), led by the late Mwalimu Julius Kambarage Nyerere, First President of the United Republic of Tanzania, established Kiswahili as a uniting language for liberation activities.

Theme of Kiswahili Language Day

The Theme of 2023: “Unleashing Kiswahili’s potential in the digital era”

Significance of Kiswahili:

i. Kiswahili is one of the world’s ten most frequently spoken languages, with around 200 million speakers.
ii. Kiswahili is the most commonly spoken language in Sub-Saharan Africa.
iii. Kiswahili is one of the lingua franca(common language) in many countries within East, Central and Southern Africa and the Middle East.
iv. Kiswahili is an official language of both the African Union (AU) and the Southern African Development Community (SADC).

History of the Day

Through its resolution 71/328 on multilingualism on September 11, 2017, the United Nations General Assembly welcomed the implementation of a day dedicated to each of its official languages in order to inform and raise awareness of their history, culture, and use, and encouraged the Secretary-General and institutions such as UNESCO to consider extending this important initiative to other non-official languages spoken around the world. In this regard, the 41st session of the General Conference of UNESCO adopted Resolution 41 C/61, which recognised the role of the Kiswahili language in promoting cultural diversity, creating awareness, and fostering dialogue among civilizations, and emphasised the importance of promoting multilingualism as a core value of the United Nations and an essential factor in harmonious communication between peoples, which promotes unity in diversity and international understanding, tolerance, and understanding. Resolution 41 C/61, adopted during the 41st session of UNESCO’s General Conference on November 23, 2021, designated the 7th of July as World Kiswahili Language Day. The annual observance of the World Kiswahili language Day aims to promote the use of the Kiswahili language as a beacon for unity, peace, and enhanced multiculturalism.

Important takeaways for all competitive exams: 

• UNESCO Headquarters: Paris, France;
• UNESCO Founded: 16 November 1945, London, United Kingdom;
• UNESCO (Director-General): Audrey Azoulay;

FPSB India appoints Krishan Mishra as CEO

Krishan Mishra has been appointed CEO of the Financial Planning Standards Board (FPSB) of India, effective August 1, 2023. FPSB India is the Indian subsidiary of FPSB, the global standards-setting body for the financial planning profession and owner of the international Certified Financial Planner (CFP) certification program.

Daily Current Affairs Quiz: July 2023

Mishra’s new responsibilities include leading FPSB India’s strategy and operations, as well as championing the expansion of the financial planning profession in India. Mishra has over 20 years of experience in a variety of leadership roles, including Becker Professional Education’s Country Head-International Business (India and South Asia), the Association of Chartered Certified Accountants’ Head of North and East India, and HCL Infosystems’ Regional Head (East) and Business Head-Channel Business.

About the Financial Planning Standards Board

• The Financial Planning Standards Board (FPSB) is a global non-profit organization that sets and upholds standards for the financial planning profession. It is the global authority on professional standards, ethics, and competency for financial planners.
• The primary mission of the FPSB is to benefit the global public by establishing, promoting, and enforcing professional standards for financial planning. It seeks to ensure that individuals and organizations providing financial planning services adhere to a consistent set of ethical principles and competency requirements.
• The FPSB is in charge of creating and administering the Certified Financial Planner (CFP) certification programme. The CFP certification is widely accepted as a global benchmark of excellence in financial planning. It certifies that a financial planner has completed extensive schooling, examination, experience, and ethics criteria.
• In addition to the CFP certification, the FPSB offers other professional designations and certifications specific to certain regions or jurisdictions. These credentials demonstrate that financial professionals have attained a high level of experience in areas such as retirement planning, investment management, and tax planning.
• The FPSB works collaboratively with its member organizations around the world to promote the adoption and implementation of its standards. It promotes continual professional development and continuing education for financial planners in order to keep them up to date on the most recent knowledge and best practises.
• By establishing and maintaining global standards, the FPSB aims to enhance consumer confidence in the financial planning profession. It attempts to defend the public interest while also promoting the greatest degree of professionalism, ethics, and competence among financial planners worldwide.

Gutti Koya tribe Erect Stone Memorials

When one of their three most important service providers, a surgeon, a priest, or a village leader, dies, the Gutti Koya tribal people build stone memorials inside the forest on the Andhra Pradesh-Chhattisgarh border.

Daily Current Affairs Quiz: July 2023

What in News?

Gutti Koya tribe people erected stone memorials in Ramchandrapuram Village, inside forest on Andhra Pradesh-Chhattisgarh border. The three most important dignitaries were honoured with these stone memorials: the physician, the priest, and the community head.

By erecting stone memorials Gutti Koya tribe people expresses their gratitude for their services. The tribal residents of Ramchandrapuram Village in Alluri Sitarama Raju District’s Kunavaram Mandal were served by these three community employees.

Process of erecting stone memorial:

• After the death of any community servant, the stone of the size of deceased person is searched.
• Then it is kept in the forest in the memory of the person.
•  Once the memorial is built, the deceased person’s family organises a feast.
• Things which were dear to the deceased are placed under the stone memorial.

Gutti Koya Tribe

• The Gutti Koya Tribe is a Telangana, Andhra Pradesh, Chhattisgarh, and Odisha tribe.
• The Gutti Koya Tribe speaks Koya, a Dravidian language.
• Their most important fair is the Sammakka Saralamma Jatra, which is celebrated every two years on the full moon day of Magha Masam in Medaram Village, Muluk Taluk, Warangal district.They are classified as ST in Chhattisgarh but not in migratory states like Telangana.They earn a living through animal husbandry and minor forest produce.
• Only men are appointed to the offices of physician, priest, and village leader.
• They practice Podu form of shifting cultivation.

DGCA to collaborate with EASA on Unmanned Aircraft Systems

The Director General of Civil Aviation (DGCA) signed a Memorandum of Understanding (MoU) with the European Union Aviation Safety Agency (EASA) during the India-EU Aviation Summit in New Delhi, India, for collaboration in unmanned aircraft and systems, as well as innovative air mobility.

Daily Current Affairs Quiz: July 2023

DGCA and EASA Collaboration:

The European Commission and India’s Ministry of Civil Aviation jointly organised the EU-India Aviation Summit in New Delhi in April 2023, during which the Director General of Civil Aviation and the European Union Aviation Safety Agency signed a Memorandum of Understanding for cooperation in unmanned aircraft systems and innovative air mobility.

The two-day summit focused on expanding EU-India aviation political, technical, and industrial collaboration.

The signing of MoU is expected to result in the establishment of the harmonized standards and development of Indian Aviation Sector.

Collaboration in the areas of certification standards, environmental standards, and related requirements for the certification and use of unmanned aircraft systems, as well as innovative air mobility operations such as personnel licencing, training, air traffic management, and infrastructure, including Unmanned Aircraft System Traffic Management (UTM) standards and services, will be part of this collaboration.

The MoU will share information related to technological developments and research in this area and also their respective strategies for outreach to relevant stakeholders between DGCA and EASA.

Unmanned Aircraft System:

• Unmanned Aircraft Systems are air vehicle that do not carry a human operator, but instead are remotely piloted or fly autonomously.
• Unmanned Aerial Vehicles (UAV), Remotely Piloted Aircraft Systems (RPAS) and drones are some other names of Unmanned Aircraft Systems.
• A Unmanned Aircraft Systems generally consist of :

1. An aircraft with no pilot on board.
2. A remote pilot station.
3. A command and control link
4. A payload specific to the intended application/operation, which often includes cameras and or other sensors that collect data for near term analysis.

Sirisha Voruganti appointed MD & CEO of Lloyds Banking Group’s Technology Centre in India

Sirisha Voruganti, the chief executive officer and managing director of Lloyds Banking Group’s new Lloyds Technology Centre in Hyderabad, India, has been appointed as the chief executive officer and managing director of the new Lloyds Technology Centre.Voruganti, a globally renowned technology and innovation leader joins from JCPenney, where she has served as the managing director and member of the Board for JCPenney in India.

Daily Current Affairs Quiz: July 2023

Voruganti brings extensive experience in IT architecture, data engineering, and fintech innovation and has held several senior technology positions in multiple global firms. She was the first woman Managing Director for JP Morgan Chase in Technology in India and has served as an Executive Vice President of Architecture, Data and Shared Services for Mastercard. The Lloyds Technology Centre is part of the Group’s three-year, $3 billion strategic investment to improve its digital offering.

About the Lloyds Banking Group

Lloyds Banking Group is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK’s largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank was formed in 1765, while the Group’s history dates back almost 320 years, to the establishment of the Bank of Scotland by the Parliament of Scotland in 1695.

Lloyds Banking Group is listed on the London Stock Exchange (LSE) and is a constituent of the FTSE 100 Index. It had a market capitalisation of approximately £30.65 billion as of 1 August 2022, the 19th-largest of any LSE listed company and has a secondary listing on the New York Stock Exchange in the form of American depositary receipts.

Important takeaways for all competitive exams: 

• Lloyds Banking Group Headquarters: Edinburgh, United Kingdom;
• Lloyds Banking Group chairman: Robin Budenberg;
• Lloyds Banking Group Founded: 19 January 2009.

Meta launches “Threads” Twitter killer app

Meta, the company of Instagram, has launched Threads, a new social networking site. With Twitter feeling insecurity under billionaire owner Elon Musk, Meta intends to take advantage of the situation. Threads is now available in over 100 countries via the Apple App Store and the Google Play Store. Like Twitter, users can share brief text messages that can be liked, reposted, and responded to. However, Threads does not include direct messaging features. Users can create posts on Threads with up to 500 characters, as well as share links, photos, and videos up to five minutes in length.

Daily Current Affairs Quiz: July 2023

About the Threads:

• Threads and Instagram have been combined, with a heavy emphasis on privacy features. Users can choose whether to display or hide a badge on their Instagram profile, and they can customise privacy settings for each app separately. Several popular brands such as Billboard, HBO, NPR, and Netflix, as well as notable celebrities like Shakira and former Meta Chief Operating Officer Sheryl Sandberg, quickly created accounts on Threads. Interestingly, no advertisements were observed during a Reuters review of the app.
• Meta actively sought the participation of social media influencers to promote Threads and encouraged them to post at least twice each day. Despite their efforts to recruit Twitter users, platforms such as Mastodon, Post, Truth Social, and T2 have struggled to acquire substantial traction. Bluesky, a new service backed by Twitter cofounder Jack Dorsey, launched its invite-only beta version in February and reported 50,000 users by April.
• However, Meta has faced difficulties with previous endeavors to introduce standalone apps resembling competitors, as seen with the unsuccessful launch of Lasso, which aimed to rival TikTok. As a cost-cutting strategy, Meta has integrated short video features directly into Instagram via Reels and trimmed down its experimental app design team.

Important takeaways for all competitive exams: 

• Meta Founders: Mark Zuckerberg;
• Meta Headquarters: Menlo Park, California, United States;
• Meta Founded: February 2004, Cambridge, Massachusetts, United States.

Bihar Surpasses Tamil Nadu as State with Highest Microlending Borrowings

According to a new survey, Bihar has surpassed Tamil Nadu as the state with the biggest microlending borrowings in India as of March 2023. The report, published by credit information company Crif High Mark, highlighted Bihar’s impressive growth with a 13.5 percent increase in the gross lending portfolio during the March quarter compared to the previous quarter.

Daily Current Affairs Quiz: July 2023

Bihar’s Impressive Growth in Microlending Sector Outshines Tamil Nadu

As of March 2023, Bihar’s microfinance (MFI) borrowings amounted to Rs 48,900 crore, accounting for 14.5 percent of the overall portfolio. Meanwhile, Tamil Nadu’s MFI borrowings totaled Rs 46,300 crore, accounting for 13.7% of the total outstanding. Bihar’s expanding significance in the microfinance sector is reflected in this major shift in rankings.

Overall Microlending Portfolio in India Witnesses Significant Growth

The overall MFI portfolio outstanding witnessed substantial growth, reaching Rs 3.37 lakh crore by the end of March, reflecting a 17.9 percent increase. The report also highlighted an improvement in asset quality. The proportion of MFI loans that were late for more than 90 days fell from 2% in December 2022 to 1.1 percent in March 2023.

Among the top ten states, Bihar’s climb to the top was accompanied by Uttar Pradesh, Karnataka, West Bengal, Maharashtra, Madhya Pradesh, Odisha, Rajasthan, and Kerala, which combined account for 85 percent of the outstanding portfolio. These states have experienced significant growth in microfinance borrowings, contributing to the overall strength of the sector.

Non-Banking Finance Companies Lead Microlending Market, Followed by Banks and Small Finance Banks

The report further revealed that the average exposure per borrower in Bihar was Rs 27,200, slightly higher than Tamil Nadu’s Rs 26,600. Furthermore, India’s eastern region dominated the MFI scene, accounting for one-third of the outstanding portfolio.

Dedicated non-banking finance companies (microfinance institutions) continued to hold the largest share in the market, commanding 37.3 percent of the overall MFI loans. Banks followed closely at 33.1 percent, while small finance banks accounted for 16.6 percent of the market.

Important takeaways for all competitive exams: 

• Bihar Chief minister: Nitish Kumar;
• Bihar Governor: Rajendra Arlekar;
• Bihar Capital: Patna.

Draft Digital Personal Data Protection Bill, 2023 approved by the Cabinet

The Union Government approved the draft Digital Personal Data Bill and come before Parliament in the monsoon season. According to official sources, the Ministry of Electronics and Information Technology received and reviewed 21,666 ideas for the draught bill, which was circulated for comments in November 2022.

Daily Current Affairs Quiz: July 2023

Digital Personal Data Protection Bill, 2023:

• Draft Digital Personal Data Protection Bill approved by the Union government and it’s paving the way to be introduced in the monsoon season of the Parliament.
• Six years after the Supreme Court declared privacy as a fundamental right, the law will become India’s core data governance framework.
• The Digital Personal Data Protection Bill (DPDP Bill) is one of four proposed laws in the IT and telecommunications sectors to create a framework for the fast expanding digital environment.
• This bill empowers the Data Protection Board (DPB) to levy a penalty of up to Rs.250 crore on the organizations found to be in breach.
• The penalty levied on organization that are in breach can be increased up to Rs.500 crore with cabinet approval and there is no requirement of any amendment in the law to increase the penalty.
• The Digital Personal Data Protection Bill includes a provision for the establishment of a Data Protection Board to oversee the Act’s implementation.
• All online and offline data will fall under the legal domains of this bill.
• The drafted bill aims to provide consent based data collection technique.

History of Digital Personal Data Protection Bill:

• In 2019: the Centre updated the draught Personal Data Protection Bill based on the recommendations of the Sri Krishna Committee Report.
• In December, 2019: Personal Data Protection Bill, 2019 sent to the Joint Parliamentary Committee for review from both the houses.
• In December, 2021: After two years, the Joint Parliamentary Committee released its report, which included a new version of the – Data Protection Bill, 2021.
• In August 2022: Minister of Communication and IT, Ashwini Vaishnaw, granted permission to withdraw the draft DPB (Data Protection Bill), 2021.
• In November 2022: Meity releases the draft Digital Personal Data Protection Bill, 2022 for public consultations.
• July 5,2023: Cabinet approves DPDP Bill to be tables in Monsoon Season (July20-August11) of Parliament.

Bank of India becomes first bank to offer Mahila Samman Savings Certificate

Bank of India has become the first bank to officially roll out Mahila Samman Savings Certificate (MSSC) scheme.

Daily Current Affairs Quiz: July 2023

The account will mature after two years from the date of opening. Accounts under this scheme can be opened until March 31, 2025.

The scheme offers an interest rate of 7.5% per annum, compounded quarterly. Individual girls or women can open an account under the Mahila Samman Savings Certificate scheme or a guardian can open an account on behalf of a minor girl.

FDI in developing countries stood at $662billion in 2022: UNCTAD

According to UNCTAD’s World Investment Report 2023, FDI in developing countries in Asia remained flat at $662 billion during 2022, as compared to the previous year.

Daily Current Affairs Quiz: July 2023

During 2022, FDI inflows to India rose by 10% on an annual basis to $49 billion, while China registered a 5% yearly growth to $189 billion.

Overall global FDI declined by 12% to $1.3 trillion in 2022 after a strong rebound in 2021 following the steep drop induced by the coronavirus pandemic in 2020.

English translation of bestselling Marathi novel ‘Dudiya’ out

The fast-paced novel “Dudiya: In your Burning Land”, written by Sahitya Akademi award-winning Marathi novelist Vishwas Patil, has been translated into English by Nadeem Khan.

Daily Current Affairs Quiz: July 2023

The book originally written in Marathi, is a story of a spirited young Adivasi girl who challenges conventional norms both within her impoverished tribe and inside a Naxal camp by simply trying to live a life of dignity and independence.

The book was published by Niyogi Books.

4th edition of the Space Economy Leaders Meeting to begin in Bengaluru

As part of India’s G20 Presidency, the 4th edition of the Space Economy Leaders Meeting has started in Bengaluru on July 6.

Daily Current Affairs Quiz: July 2023

It dwell upon the sharing of the space mission economy, the responsibilities of space agencies, and alliances in space missions.

The goal will be to improve the space economy share in the global economy in a responsible and sustainable manner.

Cultural Programmes representing India’s culture and tradition are also organized for foreign dignitaries.

Scheme for Expansion and Modernization of Fire Services in the States

The Ministry of Home Affairs has launched a Scheme for the Expansion and Modernization of Fire Services in the States with a total outlay of Rs.5,000 Crore.

Daily Current Affairs Quiz: July 2023

Objective: To expand and modernize Fire Services within National Disaster Response Fund (NDRF)

Out of the total outlay, Rs. 500 crore has been kept for incentivizing the States on the basis of their legal and infrastructure-based reforms.

This scheme was announced by the Union Home Minister, Amit Shah.

RBI panel recommends measures for internationalization of rupee

RBI’s working group has recommended the inclusion of the rupee in the Special Drawing Rights (SDR) basket and recalibration of the foreign portfolio investor (FPI) regime to accelerate the pace of internationalization of the rupee.

Daily Current Affairs Quiz: July 2023

The recommendations by an Inter-Departmental Group (IDG), headed by RBI Executive Director Radha Shyam Ratho.

The group was constituted by RBI Deputy Governor T Rabi Sankar to review the position of the rupee as an international currency.

Dalai Lama’s 88th Birthday

The respected Tibetan spiritual leader, the Dalai Lama, celebrated his 88th birthday with a joyful celebration at his headquarters in Dharamsala, India. Hundreds of his supporters and exiled Tibetans gathered to commemorate the anniversary. The courtyard of the Tsuglakhang Temple, adorned with Tibetan and Buddhist flags and portraits, served as the backdrop for the Dalai Lama’s birthday festivities. Traditional welcome tunes filled the air as the spiritual leader arrived in his open mobile van, greeted by enthusiastic supporters. The gathering reflected the Dalai Lama’s tremendous regard and appreciation, with guests expressing gratitude for his teachings of peace and nonviolence.

About Dalai Lama

Tenzin Gyatso, the 14th Dalai Lama, is a famous spiritual leader who has devoted his life to promoting peace, compassion, and the well-being of all living beings. Born on July 6, 1935, in Taktser, Amdo, northeastern Tibet, the Dalai Lama’s journey of spiritual recognition and his subsequent exile in India have made him an iconic figure on the global stage.

Philosophy of Peace and Compassion

The Dalai Lama’s teachings and philosophy are rooted in the principles of compassion, non-violence, and the promotion of human values. His concept of global responsibility emphasises the interdependence of all beings and the necessity for compassion for all individuals, regardless of race, religion, or nationality.

Warm Wishes from Antony Blinken

U.S. Secretary of State Antony Blinken extended warm birthday wishes to the Dalai Lama, commending his unwavering commitment to peace and nonviolent resistance. The acknowledgment from a prominent international figure reaffirms the Dalai Lama’s global influence and the admiration he commands.

Nobel Peace Prize

In 1989, the Dalai Lama was awarded the Nobel Peace Prize for his unwavering commitment to non-violence and his tireless efforts to resolve the Tibetan issue peacefully. The Nobel Committee recognised him for his philosophy of reverence for all living things, as well as his support for a universal duty that includes both people and the natural environment.

Key takeaways for competitive examinations

• The First Dalai Lama was: Gedun Drupa
• The 14th Dalai Lama is: Tenzin Gyatso
• Dalai Lama received Nobel Peace Prize on: October 6, 1989

Chandrayaan-3 to be launched on July 14

India’s lunar mission Chandrayaan-3 is going to be launched on July 14, at 2:35 P.M. from Satish Dhawan Space Centre in Sriharikota announced by the Indian Space Research Organisation (ISRO).The date was later confirmed by Secretary of Space department and ISRO Chairman S. Somnath at a press briefing on the sidelines of the G-20 Fourth Economy Leaders Meeting in Bengluru.

 About the Chandrayaan-3

Chandrayaan-3 is a follow-up mission to Chandrayaan-2 that will demonstrate end-to-end capability in safe lunar landing and wandering. The Lander and Rover configurations make up Chandrayaan-3. Chandrayaan-3 will be launched by Launch Vehicle Mark-III (LVM-3) from Sriharikota’s Satish Dhawan Space Centre. Chandrayaan-3 is consists of Lander Module (LM), Propulsion Module (PM) and a Rover with an objective of developing and demonstrating new technologies required for Interplanetary Missions. The Lander and the Rover have scientific payloads to carryout experiments on the lunar surface. The launcher identifies for Chandrayaan-3 is GSLV-MK3.

Process of launching of Chandrayaan-3

Chandrayaan-3 is expected to soft land between August 23 and 24 at moon’s South Pole, the area which will have sunlight. The spacecraft’s solar panels must be exposed to sunlight. If neither of these dates is satisfied, the landing will be postponed until September, when the moon will be lighted. The moon is visible for 14-15 days.

Objectives of Chandrayaan-3

• To demonstrate safe and soft landing on the lunar surface.
• To demonstrate Rover roving on the moon.
• To conduct in-situ scientific experiments.

Technologies used in Chandrayaan-3

To achieve the objectives of the mission, several technologies are used in Lander and that are:

1. Altimeters: Laser and RF based Altimeters.
2. Velocimeters: Laser Doppler Velocimeter and Lander Horizontal Velocity Camera.
3. Inertial Measurement: Laser Gyro based Inertial referencing and Accelerometer package.
4. Propulsion System: 800N Throttleable Liquid Engines, 58N altitude thrusters and Throttleable Engine Control Electronics.
5. Navigation, Guidance and Control: Powered descent trajectory design and associate software elements.
6. Hazard Detection and Avoidance: Lander hazard detection & avoidance camera and processing algorithm.
7. Landing Leg Mechanism.