Daily Current Affairs : 31 May 2023 | Daily GK & Current Affairs Tests - Bank Exams PDF Download

National: Cabinet approves CITIIS 2.0 with a focus on circular economy

The Union Cabinet has granted approval for the City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0) program. This program, conceived by the Ministry of Housing and Urban Affairs in collaboration with the French Development Agency (AFD), Kreditanstalt für Wiederaufbau (KfW), the European Union (EU), and the National Institute of Urban Affairs (NIUA), will run for four years from 2023 to 2027.
Under CITIIS 2.0, funding will include a loan of Rs.1760 crore (EUR 200 million) from AFD and KfW (EUR 100 million each) and a technical assistance grant of Rs.106 crore (EUR 12 million) from the EU. The program aims to build upon the achievements of CITIIS 1.0, which was launched jointly in 2018, with a total outlay of ₹933 crore (EUR 106 million).
The primary objective of CITIIS 2.0 is to support selected projects that promote the circular economy, with a specific focus on integrated waste management at the city level and climate-oriented reform actions at the state level. Additionally, the program aims to strengthen institutions and disseminate knowledge at the national level.

Science & Technology: Karnataka introduces Kaveri 2.0 web-based portal for property registration

The Karnataka government is set to launch Kaveri 2.0, a new web-based portal for property registration in Bangalore. This initiative aims to simplify the property registration process by allowing citizens to complete registration within 10 minutes, eliminating the need to visit sub-registrar's offices for hours or rely on intermediaries.
Citizens in Karnataka can access various property-related services and other facilities through the Kaveri Online portal, which has gained national recognition for its successful digitization of land records.

Obituary: Congress MP Suresh 'Balu' Dhanorkar passes away at 48

Congress leader Suresh 'Balu' Dhanorkar, the lone Congress MP from Maharashtra's Chandrapur Lok Sabha constituency, has passed away at the age of 48. Dhanorkar was airlifted from Nagpur to Delhi for medical treatment but succumbed to his illness.
Dhanorkar, who had previously been associated with the Shiv Sena, joined the Congress before the Lok Sabha elections and emerged victorious in the Chandrapur parliamentary constituency. He leaves behind his wife Pratibha, who is an MLA, and two sons.

Appointments & Resignations: Gurdeep Singh appointed as new NEEPCO CMD

Gurdeep Singh, the Chairman and Managing Director (CMD) of National Thermal Power Corporation (NTPC) Limited, has been given the additional charge of CMD of NEEPCO (North Eastern Electric Power Corporation Limited). This appointment, effective from June 1, 2023, or until the appointment of a regular incumbent, was approved by the Union Minister of Power and NRE, RK Singh.
The decision to entrust Singh with this additional responsibility was made to ensure the smooth functioning of NEEPCO's day-to-day activities. The approval of the Department of Personnel and Training (DoPT) is awaited.

International Days: World No Tobacco Day

World No Tobacco Day is observed annually on May 31 to raise awareness about the harmful effects of tobacco use and promote policies to reduce tobacco consumption. This initiative is led by the World Health Organization (WHO) and was established in 1987 to draw global attention to the tobacco epidemic and its preventable death and diseases.
The theme for this year's World No Tobacco Day is "We need food, not tobacco." The campaign aims to promote alternative crop production and marketing opportunities among tobacco farmers, encouraging them to grow sustainable and nutritious crops instead. It also aims to expose the tobacco industry's interference with efforts to substitute tobacco growing with sustainable crops, thereby contributing to the global food crisis.

Summits & MOUs: PFC and RITES sign MoU for strategic partnership

Power Finance Corporation (PFC) and RITES Limited have entered into a Memorandum of Understanding (MoU) to establish a strategic partnership for financing infrastructure and logistics sector projects in India and abroad. This collaboration aims to undertake traffic studies, project management services, audits & inspections, DPR review, and other relevant services for mutual projects.
The partnership between PFC, a leading NBFC, and RITES, a premier engineering consultancy company, will focus on identifying, evaluating, and funding critical projects in transportation, logistics, energy, and allied infrastructure. By combining PFC's financial expertise with RITES' engineering consultancy prowess, the collaboration aims to drive sustainable growth in the infrastructure and logistics sectors.

Banking and Economy: Equitas SFB collaborates with IBM to build a digital banking platform

Equitas Small Finance Bank has joined forces with IBM Consulting to develop a digital banking platform that offers a modern and highly secure experience to its customers and partners. The collaboration aims to enhance Equitas' digital products and services as it adapts to the preferences of the digital-first generation.

• With a focus on becoming a technology-forward industry leader, Equitas aims to leverage a cloud-native platform architecture that aligns with its business strategy. The partnership with IBM Consulting will enable Equitas to embark on a high-speed path of technology-driven growth.
• Yubi forms strategic partnership with Indian Bank to provide digital supply chain financing solutions to SMEs
• Yubi, an integrated credit platform, has partnered with Indian Bank to extend digital supply chain financing solutions to small and medium-sized businesses (SMEs) in India. This strategic collaboration aims to address the financing needs of SMEs and facilitate their growth.
• By leveraging Yubi's advanced technology and platform, Indian Bank aims to enable and scale its supply chain financing book through vendor and dealer financing. This initiative targets large corporations whose counterparties are SMEs with limited access to credit. The partnership is expected to disburse Rs. 1500 Crore within the first year, easing the cash crunch faced by SMEs and facilitating their operations and expansion.

YES Bank launches new logo and campaign 'Life Ko Banao Rich'

YES BANK has unveiled a fresh brand identity, including a new logo and an integrated campaign with the tagline "Life Ko Banao Rich." The new logo features a soaring bird to represent the bank's current position of growth. The company has opted for smoother shapes and fluid lines in its logo, replacing the previous angular design. The blue and red colors have also been updated with an electric tone, symbolizing high energy.
The campaign aims to position YES BANK as a complete solution provider and emphasize its focus on delivering a modern and secure banking experience. The creative agency McCann Worldgroup and the production house Conversation Films were responsible for creating the new logo and supporting the integrated campaign.