NATIONAL NEWS

Education Ministry Discontinues 2 Awards for Hindi Writers

• The Union Education Ministry has decided to discontinue ‘Shiksha Puraskar’ and the ‘Hinditar Bhashi Hindi Lekhak Puraskar’.

• ‘Shiksha Puraskar’ was launched by the Central Government in 1992 to encourage original writings in Hindi.

• Five awards worth Rs 1 lakh are given every year under the ‘Shiksha Puraskar’.

• Writers from any part of India or publishers on their behalf may submit their books for this award.

• Books originally written in Hindi by Hindi and non-Hindi-speaking authors are considered for this award.
• The ‘Hinditar Bhashi Hindi Lekhak Puraskar’ was started to promote writings in Hindi by writers from non-Hindi-speaking areas.
• 19 awards of one lakh rupees every year are given under this award. Its main objective is to encourage Hindi writers from Hindi-speaking areas.

Kerala to Open International Labour Conclave

• A three-day international labour conclave was inaugurated by Kerala Chief Minister Shri Pinarayi Vijayan.
• The conclave has been organised by the Labour department in association with the State Planning Board.
• Telangana Labor Minister Chamkura Malla Reddy, Bihar Labor Resources Minister Surendra Ram, and India head of the International Labor Organization (ILO) Satoshi Sasaki attended the inauguration.
• It will pave the way for new policies and changes in the labour sector in Kerala.
• About 150 people, including representatives of employers’ and employees’ organizations from across the country and abroad, experts from administrative and knowledge sectors and many more will participate in the three-day conclave.
• On the second day of the conclave, various topics will be discussed in 7 sessions.
• India is one of the founding members of the ILO and became a permanent member in 1922.

INTERNATIONAL NEWS

Second Hydroelectric Project in Nepal

• The Government of Nepal has approved India's Sutlej Jal Vidyut Nigam Limited (SJVN) to develop the second hydroelectric project in the country.

• SJVN is currently involved in the development of the Arun-III Hydroelectric Project in eastern Nepal with a capacity of 900 MW.

• The Investment Board Nepal (IBN), chaired by Prime Minister Pushpa Kamal Dahal, approved the draft Project Development Agreement (PDA) between Nepal and SJVN.

• The PDA is for development of the Lower Arun Hydroelectric Project in eastern Nepal with a capacity of 669 MW.
• The Lower Arun Hydroelectric Project is to be developed by SJVN.

BANKING

Japan Expresses Interest in Joining India’s UPI

• Japan’s Digital Minister Kono Taro has expressed keen interest in joining India’s Unified Payments System (UPI), referring to the ongoing digital cooperation between the two countries.

• It is to provide mutual recognition of e-IDs of both the countries and to expand digital transactions.

• Japan and India aim to promote digital cooperation by creating interoperability through real-time funds transfer systems to facilitate digital payments.

• Kono stated that UPI is a very convenient system of payment, where we can increase the interoperability of our payment system between Japan and India, or other countries like Singapore, Thailand.

• Unified Payments Interface is an instant real-time payment system which has been developed by the National Payments Corporation of India (NPCI).

India Requests for Funding in First Call with Pandemic Fund

• India made a funding request of approximately $55 million to the World Bank’s Pandemic Fund in its first call in May 2023.

• The Pandemic Fund was created in the aftermath of the Covid-19 pandemic by the World Bank to strengthen pandemic prevention, preparedness, and response capacities in low- and middle-income countries.

• India has requested funding from the World Bank’s Pandemic Fund to combat pandemics in humans.

• Most zoonotic (animal-to-human and human-to-animal) diseases have been found to have their origins in animals, according to scientists.
• The fund’s website states that its governing board approved $300 million for the first tranche of funding to assist developing nations in better preparing for upcoming global pandemics.
• The World Bank serves as the trustee of the Pandemic Fund and hosts its Secretariat, which includes technical staff from the World Health Organization (WHO).

Paytm Money Launches Bonds Platform

• Paytm Money subsidiary of One97 Communications Limited (OCL) that owns the brand Paytm, has launched a bonds platform for retail investors in India.

• Bonds are a safe option for investors who are looking at a steady income and fixed returns on their investments and can diversify their portfolio for good returns.

• The platform enables investors to invest in government bonds, corporate bonds, and tax-free bonds, all in one place.
• Bonds on the Paytm Money app presents investors with all relevant information in one place and convert everything to yield so that investors can analyse and understand the returns they can earn
• The bonds platform on the Paytm Money app provides investors with comprehensive information, converting it into yield to help them analyse and understand potential returns.
• The bonds can be sold on the market at any time without any premature penalties or lock-ins, allowing investors to manage their investments flexibly.
• As a Securities and Exchange Board of India (SEBI)-registered broker, Paytm Money stated that it is leveraging the existing regulatory framework to innovate and bring a secure and transparent bond product to India.

SPORTS

Monaco Grand Prix 2023

• Red Bull's Max Verstappen has won the 2023 Monaco Grand Prix, his fourth win of the season.

• He led all 78 laps from pole position.

• The win extended his lead in the Drivers' Championship to 39 points.

• Fernando Alonso finished second in the race.

• Esteban Ocon took third place.

• It is an annual Formula One motor racing event.

• It has been held since 1929 and is considered to be one of the most important and prestigious automobile races globally.

Hockey India Sub Junior Men National Championship 2023

• Uttar Pradesh Hockey emerged as the champions of the 13th Hockey India Sub-Junior Men's National Championship 2023.

• Its final was held at Birsa Munda Hockey Stadium, Odisha.

• Uttar Pradesh Hockey defeated Odisha Hockey Association in the final.

• Hockey Haryana defeated Hockey Madhya Pradesh to secure the third position.

AWARDS & PRIZES

Jnanpith Award

• Goan writer Damodar Maujo has been honoured with the 57th Jnanpith Award, India's highest literary honour.

• He is a renowned short story writer, novelist, critic and screenwriter in Konkani language.

• Damodar Maujo is the second Goan to receive the Jnanpith Award after Ravindra Kelekar in 2008.

• He has written 25 books in Konkani and one in English, many of which have been translated into various languages.

• Mauzo’s famous novel ‘Karmelin’ received the Sahitya Akademi Award in 1983.

• The award ceremony took place at the Raj Bhavan near Panaji, the capital of Goa.

• It is the oldest and highest Indian literary award presented annually by Bharatiya Jnanpith.
• It recognizes outstanding contributions to literature by Indian authors writing in English as well as in the Indian languages listed in the Eighth Schedule to the Constitution of India.

APPOINTMENTS & RESIGNATIONS

MD and CEO of Karnataka Bank

• Karnataka Bank appointed Srikrishnan Harihar Sarma as its new Managing Director and Chief Executive Officer (CEO).

• Sarma has vast experience in commercial, retail and transactional banking, technology and payments.

• The appointment is subject to the approval of the shareholders in the ensuing Annual General Meeting or within a period of three months from the date of joining, whichever is earlier.

• The Karnataka Bank Limited was incorporated on 18 February 1924 and commenced business on 23 May 1924.

• The bank was established in Mangalore, a coastal city in the Dakshina Kannada district of Karnataka.
• BR Viceroy was one of the founders of the Pickle Bank, which aimed to serve the South Canara region.

SCIENCE & TECHNOLOGY

ISRO to Launch Navigation Satellite

• The Indian Space Research Organization (ISRO) launched its next-generation navigation satellite, NVS-1, from Sriharikota on 29 May 2023.
• The spacecraft is part of the Navigation with Indian Constellation (NavIC) series.
• NVS-1 weighs approximately 2,232 kg and will be launched by a GSLV F12 rocket from the second launch pad at Satish Dhawan Space Centre, Sriharikota.
• NVS-1 is the first of the second-generation satellites envisaged for the NavIC series.
• The NVS series of satellites aims to maintain and enhance the NavIC system with advanced features.
• NavIC provides two services: Standard Positioning Service for civilian users and Restricted Service for strategic users.
• The satellite will carry an indigenously developed rubidium atomic clock for accurate GPS location timing.

IMPORTANT DAYS

International Day of United Nations Peacekeepers

• The International Day of United Nations Peacekeepers is observed annually on 29 May.

• It is a day dedicated to honouring the contribution and sacrifice of United Nations (UN) peacekeepers.

• The day recognizes the efforts of peacekeepers in maintaining peace and security around the world.

• It also serves as a tribute to those who have lost their lives while serving as peacekeepers.
• The theme for the 75th anniversary of the International Day of UN Peacekeepers 2023 is ‘Peace begins with me’.
• The theme acknowledges the service and sacrifice of peacekeepers, both past and present.
• It was established by the United Nations General Assembly in 2002.