Today's Current Affairs 12th July 2023

INTERNATIONAL

Four Indian-origin biz leaders in 2023 Forbes' 100 richest self-made women list

• Four Indian-origin women have made it to the Forbes list of America's 100 richest self-made women, with a combined net worth of a $4.06 billion. Jayshree Ullal, president and CEO of Arista Networks, a computer networking firm; Neerja Sethi, co-founder of IT consulting and outsourcing firm Synte; Neha Narkhede, co-founder and former chief technology officer (CTO) of cloud company Confluent; and Indra Nooyi, PepsiCo's former chair and CEO, are the four Indian-origin women who have been named by Forbes.
• Jayshree Ullal - Ranked 15th on the list, Ullal has a net worth of $2.4 billion. She has been president and CEO of the publicly-traded Arista Networks since 2008 and owns about 2.4 per cent of its stock. Arista recorded revenue of nearly $4.4 billion in 2022.
• Neerja Sethi - Ranked 25th on the list, Sethi, 68, has a net worth of $990 million. Neerja Sethi co-founded IT consulting and outsourcing firm Syntel with her husband Bharat Desai in 1980 in their apartment in Troy, Michigan. In October 2018, French IT firm Atos SE bought Syntel for $3.4 billion and Sethi got an estimated $510 million for her stake.
• Neha Narkhede - Narkhede, 38, is ranked 50th on the list with a net worth of $520 million. As a LinkedIn software engineer, she helped develop the open-source messaging system Apache Kafka to handle the networking site's massive influx of data. In 2014, she and two LinkedIn colleagues left to found Confluent, which helps organisations process large amounts of data on Apache Kafka.
• Indra Nooyi - Nooyi, the former chair and CEO of PepsiCo, retired in 2019 after 24 years with the company, half of which she spent in the top job. The 67-year-old has a net worth of $350 million and is ranked 77th on the list. As CEO, she thwarted a bid to break up PepsiCo, nearly doubled sales and introduced healthier products and environmentally friendly practices. Her fortune stems from stock she was granted while working at PepsiCo.

India secured four gold medals at the 34th International Biology Olympiad

• India topped the medals tally at the 34th International Biology Olympiad (IBO) 2023, held in Al Ain, UAE, from July 3 to 11, by securing four gold medals. For the first time, India has turned in an all-gold performance and topped the medals tally in IBO.
• The student’s team this year was Dhruv Advani (Gold) from Bengaluru, Karnataka, Ishan Pednekar (Gold) from Ratnagiri, Maharashtra, Megh Chhabda (Gold) from Jalna, Maharashtra, Rohit Panda (Gold) from Risali, Chhattisgarh.
• The team was accompanied by two leaders, Professor Madan M. Chaturvedi (Former Senior Professor, Delhi University) and Dr Anupama Ronad (Homi Bhabha Center for Science Education, TIFR), and two Scientific Observers, Dr V. V. Binoy (National Institute of Advanced Studies, Bengaluru) and Dr Rambhadur Subedi (NIRRH, Mumbai).
• As per the note shared by HBCSE, “There were 293 students from 76 countries in this year’s IBO. After India, Singapore was the only other country to secure four gold medals. In all 29 gold medals were awarded. Earlier, India topped the medals tally in Astronomy and Astrophysics (in 2008, 2009, 2010, 2011, 2015, and 2021), Physics (in 2018), and Junior Science (in 2014, 2019, 2021, and 2022).”

SPORTS

Wanindu Hasaranga and Ashley Gardner awarded ICC 'Player of the Month' for June

• The ICC (International Cricket Council) honoured Sri Lankan spinner Wanindu Hasaranga and Australian women's team all-rounder Ashley Gardner with the 'Player of the Month' awards in June for their exceptional performances.
• Wanindu Hasaranga received the prestigious accolade for his remarkable achievements during the World Cup qualifier matches held in Zimbabwe.
• Ashley Gardner became the first player to win the Player of the Month award three times. She was recognized for her outstanding contribution during the Women's Ashes series.
• The ICC honoured both the players during the month of June for their remarkable skill, performance and impact on their respective teams.

APPOINTMENS & RESIGNATIONS

SBI Card appoints Abhijit Chakravorty as MD & CEO

• SBI Cards & Payment Services (SBI Card), the country’s largest pure-play credit card issuer, has appointed Abhijit Chakravorty as MD & CEO.
• Chakravorty, who is presently a Deputy Managing Director at SBI, will assume charge of his new role on August 12, SBI Card said in a filing with stock exchanges.
• He has been appointed as SBI Card’s MD&CEO for two years.
• Incumbent MD & CEO Rama Mohan Rao Amara has tendered his resignation owing to his transfer to SBI. Amara will demit office on August 11.
• Chakravorty will assume his new role at a time when the Indian credit card industry is showing robust growth both in terms of volumes and card spends.
• Chakravorty, who started his banking career as a Probationary Officer with SBI in 1988, has gained over 34 years of rich experience in Retail and Corporate Banking, Overseas Operations and IT verticals of the bank.
• He also served at the Hongkong branch of the Bank. He had a long tenure in Commercial Credit Group and was involved in high value Corporate Lending.
• Chakravorty managed the Bangladesh Operations of SBI as CEO and Country Head.

ITC board reappoints Sanjiv Puri as chairman & managing director

• In a significant development, the board of ITC Ltd has re-appointed Sanjiv Puri as the company’s Chairman and Managing Director for a period of five years. The decision, made on the recommendation of the committee, is set to take effect from July 22, 2024. ITC Limited is an eminent Indian conglomerate, which holds a prominent position among the largest companies in the country. Its operations encompass a diverse range of business sectors, such as tobacco manufacturing, food processing, retailing, and financial services.
• Sanjiv Puri, 60, joined ITC in January 1986 and has since demonstrated exceptional leadership across various roles within the organization. He was appointed as the Chief Executive Officer in February 2017 and later re-designated as the Managing Director in May 2018. Puri took on the role of Chairman of the tobacco-to-hotels conglomerate on May 13, 2019.
• During his tenure at ITC, Puri has held several key positions, displaying a remarkable understanding of diverse business verticals. He has overseen critical areas such as manufacturing, operations, and information & digital technology. Puri’s expertise and strategic vision have played a pivotal role in shaping ITC’s growth trajectory.

IMPORTANT DAYS

International Malala Day

• International Malala Day is observed every year on July 12 to celebrate the life and legacy of Pakistani education activist and Nobel laureate Malala Yousafzai. A symbol of the fight for girls' education, Malala was first recognized globally on October 9, 2012, when she was shot in the head and neck by a Taliban gunman.
• History - The United Nations first celebrated International Malala Day on July 12, 2013 - a year after she was shot by a Taliban gunman in Pakistan for opposing their restrictions on female education in the country. The meeting of the UN was addressed by former British Prime Minister Gordon Brown, who was then serving as UN Special Envoy for Global Education. The day also coincides with Malala's birthday.
• According to the UN, the day calls for several world leaders to ensure free and mandatory education for girl children. It emphasizes that education is not a privilege but a fundamental right for everyone.
• Malala Day holds a great significance that highlights the importance of education and women's rights. The day serves as a reminder that individual determination and standing up for one's beliefs can have a profound impact on the world. On this day, people bring attention to the plight of millions of children who are still denied access to quality education.

World Paper Bag Day

• On July 12, World Paper Bag Day is celebrated annually to promote the significance of utilizing paper bags instead of plastic. This observance serves as a reminder to prioritize environmentally conscious choices in our everyday lives and encourages individuals and businesses to adopt more sustainable alternatives.
• World Paper Bag Day holds great importance in advocating for a greener and cleaner world. Plastic bags, being non-biodegradable, pose a significant threat to our planet. They often end up in landfills or find their way into the oceans, endangering marine life. By choosing paper bags instead, we can reduce plastic waste and contribute to the preservation of our planet for future generations.
• Paper bags are made from renewable resources and are biodegradable, meaning they can be recycled and easily decomposed without causing harm to the environment. This is one of the primary benefits of using paper bags.
• The objective of this day is to raise public awareness about the detrimental impact of plastic bags on the environment and to encourage the adoption of paper bags and other eco-friendly alternatives

 NABARD Foundation Day

• The National Bank for Agriculture and Rural Development (NABARD) celebrated its 42nd Foundation Day on July 12, 2023. The day was marked by a series of events across the country, including a webinar on the theme of “NABARD: 42 Years of Rural Transformation.”
• The webinar was addressed by the Union Minister of Agriculture and Farmers’ Welfare, Shri Narendra Singh Tomar, who highlighted the important role that NABARD has played in the development of rural India. He said that NABARD has helped to increase agricultural production, improve rural infrastructure, and promote financial inclusion in rural areas.
• The webinar also featured presentations by senior officials from NABARD, who discussed the bank’s various initiatives in the areas of agriculture, rural development, and financial inclusion.
• NABARD is a national bank that provides financial and developmental support to the agricultural and rural sectors in India. It was established in 1982 by the Indian government to coordinate the activities of all rural credit institutions and to serve as the apex institution for the entire rural credit system.

SUMMIT'S & MOU's

International Financial Services Centres Authority (IFSCA) and Climate Policy Initiative sign MoU to cooperate on Sustainable Finance

• The International Financial Services Centres Authority (IFSCA) and Climate Policy Initiative – India (CPI) have signed a Memorandum of Understanding (MoU) for mutual assistance and cooperation to increase mobilisation of global sustainable capital flows into India.
• The commencement of India’s G20 Presidency begins with the theme “One Earth, One Family, One Future”. Sustainable development is a key priority that runs across the priorities of G20 working groups. Mobilisation of sustainable finance is critical to achieve transition to green and resilient economies. IFSCA has taken significant steps in accelerating global sustainable capital flows by creating a conducive regulatory environment, based on international best practices, focused especially on the needs of India and developing countries. With deep expertise in finance and policy, CPI is an analysis and advisory organization that works to improve the most important energy and land use practices around the world. CPI’s mission is to help governments, businesses, and financial institutions drive economic growth while addressing climate change. It is against this backdrop that IFSCA and CPI are collaborating through a wide-ranging MoU, which includes research and joint convenings in the field of sustainable finance.