Today's Current Affairs 13th July 2023

NATIONAL

Rajnath Singh inaugurates HAL’s regional office in Kuala Lumpur

• Defence Minister Rajnath Singh inaugurated Hindustan Aeronautics Limited (HAL)’s Regional Office in Kuala Lumpur to facilitate close defence industrial collaboration between India and Malaysia, the Ministry of Defence said in a press release.
• He also interacted with the Indian diaspora and urged them to work incessantly for shared prosperity between India and Malaysia.
• Recognising defence exports as a key pillar of sustainable growth of the Indian defence industry, Defence Minister Rajnath Singh inaugurated the Regional Office of Hindustan Aeronautics Limited (HAL) in Kuala Lumpur, Malaysia.
• This Regional Office will facilitate close defence industrial collaboration between India and Malaysia. It will also serve as a hub for the HAL’s engagement with the wider South-East Asian region and act as a window for other Indian Defense PSUs, the press release.
• Malaysia is home to the second largest members of the Persons of Indian Origin and has a significant presence of the NRI community. The Defence Minister interacted with the Indian diaspora on two different occasions.

SCIENCE & TEHNOLOGY

Elon Musk launches his new artificial intelligence company, xAI

• Elon Musk, CEO of Tesla and SpaceX, and owner of Twitter, on Wednesday announced the debut of a new artificial intelligence company, xAI, with the goal to “understand the true nature of the universe.” According to the company’s website, Musk and his team will share more information in a live Twitter Spaces chat on Friday.
• Team members behind xAI are alumni of DeepMind, OpenAI, Google Research, Microsoft Research, Twitter and Tesla, and have worked on projects including DeepMind’s AlphaCode and OpenAI’s GPT-3.5 and GPT-4 chatbots. Musk seems to be positioning xAI to compete with companies like OpenAI, Google and Anthropic, which are behind leading chatbots like ChatGPT, Bard and Claude.

 APPOINTMENS & RESIGNATIONS

President appoints two new judges in Supreme Court

• Telangana Chief Justice Ujjal Bhuyan and Kerala Chief Justice S. Venkatanarayana Bhatti have been appointed as judges of the Supreme Court by the President. These appointments were made shortly after the Supreme Court Collegium, headed by Chief Justice of India DY Chandrachud, recommended their names to the government.
• Experience of Justice Mishra - Justice Bhatti was appointed as a judge of the High Court of Andhra Pradesh on April 12, 2013 and is the senior-most in his parent High Court.
• He was transferred to the Kerala High Court in March 2019 and is presently serving as Chief Justice there since June 1, 2023.
• Experience of Justice Viswanathan - Justice Bhuyan is currently serving as the Chief Justice of the Telangana High Court while Justice Bhatti is the Chief Justice of Kerala High Court.
• Justice Bhuyan’s parent High Court is the Gauhati High Court.
• He was appointed as a judge of the Gauhati High Court on October 17, 2011.
• He is the senior-most judge of his parent High Court and has been serving as Chief Justice of the Telangana High Court since June 28, 2022.

SUMMIT'S & MOU's

Maharashtra government and Gogoro made an MoU to setup smart battery ecosystem

• Maharashtra and Gogoro have announced that the Maharashtra government has presented Gogoro with an offer letter to enter into an ‘Ultra Mega Project’ agreement to manufacture vehicles, smart battery packs and battery swap stations, and deploy an open and accessible battery swapping infrastructure in the State beginning in late 2023.
• The proposed Ultra Mega Project deal would exceed $1.5 billion (Rs 12,300 crore) and include financial incentives and support from Maharashtra. The offer letter follows an MOU between Maharashtra and Gogoro that was previously announced at Davos in January 2023.
• he Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding $500 million that usually result in government incentives to ensure successful project execution. Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the agreement soon.

L&T signs Master Ship Repair Agreement with US Navy

• Larsen & Toubro said it has signed the Master Shipyard Repair Agreement with the US Navy to further strengthen the partnership between the two countries in the defence sector.
• L&T's Kattupalli Shipyard, near Chennai, a major node in the Southern Defence Corridor, has been undertaking voyage repairs of the Military Sealift Command vessels, the firm said in a statement.
• After an elaborate assessment by the US Navy and the Military Sealift Command, the shipyard qualified for the Master Shipyard Repair Agreement (MSRA). This is equivalent to undertaking warship refits, for which the shipyard has already been qualified by the Indian Navy and the Coast Guard,
• The agreement marks yet another step in the growing relationship between the biggest and the oldest democracies of the world, further strengthening the partnership between them in the defence sector,
• This agreement marks a global recognition of our unmatched capabilities and facilities to undertake quality ship repairs and refits...L&T will dedicate all its dynamism, innovation, and Shipbuilding 4.0 techniques to meet the quality and delivery requirements of the US side,

Sixth India-Arab Partnership Conference 2023 was organized in New Delhi

• Sixth India-Arab Partnership Conference 2023 was organized in New Delhi on 11 -12 July 2023, External Affairs Secretary (CPV & OIA) Dr Ausaf Sayeed said, India has strong relations with the West Asian countries and the region is the largest trade partner of India. He said UAE was the third-largest trading partner while Saudi Arabia, was the fourth-largest partner during the last financial year.
• Talking about the Sixth India-Arab Partnership Conference, Dr Sayeed said, the Conference has provided a useful platform to the business community on both sides to explore new prospects for trade and investment. He highlighted the importance of cooperation in the field of the renewable energy sector, especially green hydrogen.

11th meeting of the Executive Board of Association of World Election Bodies

• The Chief Election Commissioner of India, Shri Rajiv Kumar, along with a delegation from the Election Commission of India (ECI), recently attended the 11th meeting of the Executive Board of the Association of World Election Bodies (A-WEB) in Cartagena, Colombia. The meeting provided an opportunity for Electoral management bodies (EMBs) from around the world to collaborate and address challenges affecting election integrity.
• Association of World Election Bodies A-WEB plays a crucial role in promoting cooperation among (Electoral management body) EMB and facilitating the exchange of experiences and best practices. The association, which comprises 119 EMBs as members and 20 regional associations/organizations as associate members, provides a platform for EMBs to learn from one another and enhance their electoral management processes. By sharing expertise and strategies, EMBs can effectively address common challenges and improve election integrity globally.

BANKING AND ECONOMY

Travel credit card launched by IDFC FIRST Bank, Club Vistara, & Mastercard

• IDFC FIRST Bank, Club Vistara, and Mastercard together have introduced a travel credit card that aims to enhance travel experiences for cardholders. The aim of the partnership and travel card is to provide solutions tailored specifically for frequent flyers and travel enthusiasts, while also ensuring security.
• The card combines banking services with various travel perks including access to airport lounges, complimentary flight tickets, accelerated reward points, and cover for cancelled flight & hotel bookings among other features. 
• This card will redefine the way people travel, offering a range of exclusive benefits and rewards that cater to the diverse needs of modern travellers. We are confident in this partnership’s ability to deliver unmatched value and elevate the travel experience for our esteemed customers.
• As consumers take advantage of a more traditional travel ecosystem in 2023, prioritising leisure travel and pioneering new corridors around the world, Mastercard is thrilled to introduce a specially designed credit card for travel enthusiasts in collaboration with IDFC FIRST Bank and Club Vistara,

Max Life partners with DCB Bank to offer comprehensive range of life insurance solutions

• Max Life Insurance Company announced its partnership with DCB Bank. Through this collaboration, Max Life and DCB Bank will provide life insurance products to the bank's customers, including term, savings, and retirement plans, allowing them to protect their financial future and expand their investment portfolio. The partnership aims to leverage DCB Bank’s extensive reach and customer-centric approach, along with Max Life’s expertise in protection and long-term savings solutions. By combining their strengths, the two organizations aim to deliver superior customer experience, digital servicing, and an omni-channel approach.
• About Max Life Insurance - Max Life Insurance Company Limited is a joint venture between Max Financial Services Limited and Axis Bank Limited. It offers comprehensive protection and long-term savings life insurance solutions. Max Life operates through multiple distribution channels, including agency and third-party partners. The company has achieved a gross written premium of INR 25,342 Cr for FY2022-23. It is a prominent player in the insurance sector, known for its expertise and customer-centric approach.
• About DCB Bank - DCB Bank is a new-generation private sector bank with 427 branches across India. It is regulated by the Reserve Bank of India and is professionally managed. The bank provides contemporary technology infrastructure, including internet and mobile banking services. DCB Bank serves various business segments, including retail, micro-SME, SME, mid-corporate, agriculture, commodities, government, public sector, Indian banks, co-operative banks, and NBFCs. With approximately one million customers, DCB Bank aims to empower its customers through innovative financial solutions.