Today's Current Affairs 31st May 2023

NATIONAL

Cabinet approves CITIIS 2.0 from 2023 to 2027 with a focus on circular economy

The Union Cabinet has approved the City Investments to Innovate, Integrate and Sustain 2.0 (CITIIS 2.0), a program conceived by the Ministry of Housing and Urban Affairs in partnership with the French Development Agency (AFD), Kreditanstalt für Wiederaufbau (KfW), the European Union (EU) and National Institute of Urban Affairs (NIUA). The program will run for a period of four years, starting from 2023 till 2027

Funding - The funding for CITIIS 2.0 would 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. CITIIS 2.0 aims to leverage and scale up the learnings and successes of CITIIS 1.0, which was launched jointly in 2018 by MoHUA, AFD, EU, and NIUA, with a total outlay of ₹933 crore (EUR 106 million).

This ambitious program envisages to support competitively selected projects promoting circular economy with focus on integrated waste management at the city level, climate-oriented reform actions at the State level, besides institutional strengthening and knowledge dissemination at the national level.

SCIENCE & TECHNOLOGY 

Kaveri 2.0: Karnataka’s web based portal for property registration

In a move that is expected to further simplify the property registration process in India’s information technology capital, the Karnataka government is set to launch the all-new Kaveri 2.0 in Bangalore . The state launched Kaveri 2.0 on March 2, 2023. According to Karnataka revenue minister R Ashok, the new software ensures registration of properties in just 10 minutes, and relieves public of the ordeal of waiting at the sub-registrar’s offices for hours or depending on touts.

To avail of various property-related and other services, citizens in Karnataka can visit the Kaveri Online portal, a website that has been nationally recognised as a successful initiative in digitisation of land records.

OBITUARY

Lone Congress MP from Maharashtra Suresh 'Balu' Dhanorkar passes away at 48

Congress leader Suresh 'Balu' Dhanorkar breathed his last at a private hospital in Delhi-NCR. He was 48 years old. Dhanorkar is survived by his wife Pratibha, an MLA, and two sons.

A party spokesperson told news agency PTI that Dhanorkar was airlifted to Delhi from Nagpur on May 28 for medical treatment. He was shifted to the national capital in an air ambulance after he complained of stomach pain, The Congress parliamentarian had undergone treatment for kidney stones at a hospital in Nagpur on May 27,

Dhanorkar was the lone Congress MP from Chandrapur Lok Sabha constituency in Maharashtra. He was earlier part of the Shiv Sena, winning the Warora-Bhadrawati Assembly seat in 2014. He quit the party in 2019 and joined the Congress before the Lok Sabha elections. He was fielded from Chandrapur parliamentary constituency where he defeated former union minister and BJP leader Hansraj Ahir.

APPOINTMENTS & RESIGNATIONS

Gurdeep Singh appointed as new NEEPCO CMD

National Thermal Power Corporation (NTPC) Limited CMD Gurdeep Singh has been given additional charge of the CMD of NEEPCO.

According to a release issued by the Ministry of Power Mr, Singh will assume additional charge as CMD of NEEPCO for a period of three months with effect from June 1 or till the appointment of a regular incumbent to this post or until further orders, whichever is earliest.

The decision was taken following the approval of the Union Minister of Power and NRE, RK Singh, the order said, while adding that the proposal was forwarded to the Department of Personnel and Training (DoPT) and the approval of DOPT is awaited.

As per the order, the decision was taken for smooth functioning of the day-to-day activities of NEEPCO.

INTERNATIONAL DAYS

World No Tobacco Day

The World No Tobacco Day is celebrated every year on May 31. This day is observed as an initiative led by the World Health Organization (WHO) to raise awareness about the harmful effects of tobacco use and to have policies to reduce tobacco consumption.

History - World No Tobacco Day was established by the member states of the World Health Organization in 1987 with an aim to draw global attention to the “tobacco epidemic and the preventable death and diseases it causes”. A resolution was passed by the World Health Assembly in 1987 following which the WHO announced that May 31 be observed as World No Tobacco Day annually.

Theme - The theme for this year's No Tobacco Day is “We need food, not tobacco”. The global campaign is geared towards promoting alternative crop production and marketing opportunities among tobacco farmers. It aims to encourage those involved in the production of tobacco to grow sustainable and nutritious crops. The campaign is also an attempt to “expose the tobacco industry's efforts to interfere with attempts to substitute tobacco growing with sustainable crops, thereby contributing to the global food crisis”.

SUMMIT'S & MOU's

PFC and RITES signs MoU for strategic partnership

Power Finance Corporation (PFC), a Mahartana CPSU and India's leading NBFC, has entered into a Memorandum of Understanding (MoU) with RITES Limited, a premier engineering consultancy company, to establish a strategic partnership for financing infrastructure and logistics sector projects in India and abroad.

PFC and RITES will explore avenues of mutual collaboration for undertaking Traffic Studies, Project Management Services, Audits & Inspections, DPR Review and other relevant services for carrying out the projects of mutual interest. The MoU will also enable both the companies to explore consultancy opportunities for various Government Bodies, Private Entities and Multilateral Funding Agencies. The collaboration will focus on identifying, evaluating, and funding projects in transportation, logistics, energy and allied infrastructure.

PFC's financial expertise with RITES engineering consultancy prowess together will accelerate the development of critical projects and drive sustainable growth in the infrastructure and logistics sectors. The partnership will also facilitate knowledge sharing in developing infrastructure projects.

BANKING AND ECONOMY

Equitas SFB Collaborates with IBM to Build a Digital Banking Platform

Equitas Small Finance Bank has collaborated with IBM Consulting to design and build a digital banking platform that delivers a modern and highly secure experience to the bank’s customers and partners. The collaboration aims to boost Equitas’ digital products and services offerings as it evolves its business for a digital-first generation. Through this association, Equitas will embark on a high-speed path to leverage technology as a differentiator in its next phase of growth.

Launched in 2016, Equitas Small Finance Bank is one of the leading small finance banks in India. After having established its business as part of the initial growth phase, Equitas is now looking to capitalize on its position as a technology-forward industry leader. As part of the next growth phase, Equitas aims to commence its modernization journey with a cloud-native platform architecture that aligns with the bank’s business strategy.

Yubi Forms Strategic Partnership with Indian Bank to Provide Digital Supply Chain Financing Solutions to SMEs

Yubi, a renowned worldwide integrated credit platform, that powers the discovery, execution, and fulfillment of credit, has joined forces with Indian Bank, one of India's leading public sector banks, to extend digital supply chain financing solutions to small and medium-sized businesses (SMEs) in India.

Aim - This strategic partnership aims to address the financing needs of SMEs and facilitate their growth and development. By leveraging Yubi's advanced technology and platform, Indian Bank aims to digitally enable and scale its SCF  book through vendor and dealer financing, targeting large corporations whose counterparties are SMEs with limited access to credit.

Dealers and distributors of anchor companies integrated with Yubi will benefit from Indian Bank's digital supply chain solution. This partnership is expected to disburse Rs 1500 Crore within the first year, alleviating the cash crunch faced by SMEs and facilitating their operations and expansion.

YES Bank launches new logo, to roll out campaign 'Life Ko Banao Rich'

Unveiling its fresh brand identity, private lender YES BANK on Tuesday (May 30) launched a new logo of the company and said it is set to roll out an integrated campaign with the tagline – ‘Life Ko Banao Rich’ - which represents the bank’s core focus of being a complete solution provider.

About:Yes Bank New Logo - The tick has been transformed into a soaring bird, which represents the Bank’s current position of ‘soaring’, said the company. Moreover, the smoothened-out corners and fluid shapes have replaced the angular edges of the older logo. The blue and red colours have got a makeover with an electric tone, representing high energy

McCann Worldgroup acted as the creative agency, with Conversation Films serving as the production house, responsible for creating the new logo.