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17th May Current Affairs – Top News of the Day

Today’s Current Affairs

17th May 2023 Current Affairs are incorporated with the important news that made the current affairs headlines for banking, UPSC or other competitive exams. Daily Current Affairs is the complete bag of important news that is held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the Top News of the Day for 17th May 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz. 

Here is the Current Affairs 17th May 2023 covering the following news headlines: 8th All India Pension Adalat, PM Fathi Bashagha, Geographical Indication Tag, ‘Pahal’ initiative, Competition Commission of India, World Economic Situation and Prospects report, Morgan Stanley.

National News

1. Union Minister Dr Jitendra Singh to Inaugurate 8th All India Pension Adalat in Delhi

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Union Minister Dr Jitendra Singh is set to inaugurate the 8th All India Pension Adalat in Delhi on May 17. This initiative, organized by the Department of Pension and Pensioners’ Welfare, aims to resolve chronic pension-related cases. Additionally, the Minister will preside over the 50th pre-retirement counselling (PRC) workshop, providing retiring civil employees with essential information and guidance for a smooth transition into retirement. The All India Pension Adalat, launched on an experimental basis in 2017, has been instrumental in resolving pensioners’ grievances efficiently.

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2. Brazil, top chicken exporter, confirms first ever avian flu cases in wild birds

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Brazil, known as the world’s leading chicken exporter, has recently confirmed cases of Highly Pathogenic Avian Influenza (HPAI) in wild birds. Although these cases mark the first-ever occurrence in the country, the Brazilian government emphasizes that the situation will not lead to a ban on the importation of Brazilian poultry products, in accordance with guidelines from the World Organization for Animal Health (WOAH). While the avian influenza virus poses a threat to bird populations and the farming sector, the impact on Brazil’s poultry industry remains limited.

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International News

3. Libyan Parliament has expelled PM Fathi Bashagha

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Libya’s political scene has been thrown into turmoil as the nation’s eastern-based parliament voted to remove Prime Minister Fathi Bashagha, referring him for investigation and appointing Finance Minister Osama Hamad as his replacement. The reasons for Bashagha’s ousting are unclear. As a former interior minister, he was chosen over a year ago to rival Tripoli-based premier Abdul Hamid Dbeibah under a United Nations-brokered deal to create a power-sharing government and establish democracy in Libya.

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4. Ludovit Odor Assumes Office as Slovakia’s Caretaker Prime Minister

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Ludovit Odor, a former Vice-Governor of the National Bank of Slovakia, has been appointed as Slovakia’s new caretaker Prime Minister. Following the resignation of former caretaker Prime Minister Eduard Heger on May 7, Slovak President Zuzana Caputova entrusted Odor with the responsibility of leading the country until the snap elections scheduled for September. In his inaugural address, Odor expressed his commitment to bringing calm and professionalism to the governance of Slovakia.

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States News

5. Uttar Pradesh Now Holds 2nd Position In GI Tagged Products

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Uttar Pradesh now holds the second position in the country in terms of having the maximum number of Geographical Indication (GI)-tagged goods. The state has received GI tags for three more One District One Product (ODOP) crafts, taking the total number of GI-tagged products in the state to 48. The three newly-tagged ODOP crafts are Mainpuri tarkashi, Mahoba Gaura stone craft, and Sambhal horn craft. The GI tag is a valuable asset for the state of Uttar Pradesh. It helps to promote the state’s traditional crafts and products, and also helps to boost the local economy. The GI tag also helps to create awareness about the state’s rich cultural heritage.

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6. Inauguration of online education program ‘Pahal’ for rural children

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The online rural education initiative ‘Pahal’ was officially launched by Chief Secretary Durga Shankar Mishra at Government UP Sainik Inter College in Sarojini Nagar. This program, developed through a partnership between the Department of Secondary Education and IIT Kanpur, aims to provide education to rural communities through online platforms.

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Appointments News

7. Paytm appoints Bhavesh Gupta as president and COO

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One 97 Communications Ltd, the parent company of Paytm, announced the appointment of Bhavesh Gupta as the President and Chief Operating Officer (COO) of the fintech company. Previously serving as the Senior Vice President, Gupta will now take on the responsibility of overseeing various verticals within Paytm, including lending, insurance, online and offline payments, consumer payments, and spearheading important initiatives such as user growth, operational risk, fraud risk, and compliance. Gupta will report directly to Paytm’s Managing Director and Chief Executive Officer, Vijay Shekhar Sharma.

Important takeaways for all competitive exams: 

  • Paytm Founder: Vijay Shekhar Sharma;
  • Paytm CEO: Vijay Shekhar Sharma (Dec 2010–);
  • Paytm Parent organization: One97 Communications;
  • Paytm Founded: August 2010.

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8. GoI appointed Ravneet Kaur as CCI Chairperson

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The government has appointed Ravneet Kaur as the Chairperson of the Competition Commission of India (CCI). There has been no full-time Chairperson for the competition regulator since Ashok Kumar Gupta demitted office in October 2022. CCI Member Sangeeta Verma has been acting as the Chairperson since October last year. The appointment of Ravneet Kaur, a 1988 Punjab cadre IAS officer, will be for a period of five years from the date of assuming charge or till the date of attaining the age of 65 years or until further orders, whichever is the earliest, as per the order dated May 15. The Chairperson will get a consolidated salary of Rs 4,50,000 per month without house and car.

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Economy News

9. India remains a bright spot, economy expected to grow 6.7% in 2024: United Nations

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According to the World Economic Situation and Prospects report released by the United Nations, India’s economy is projected to grow by 6.7% in the calendar year 2024. The report highlights India’s resilient domestic demand as a key factor driving this growth. However, it also cautions that higher interest rates and weaker external demand may continue to impact investment and exports in 2023.

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10. India to contribute 16% to global GDP growth over 2023-24: Morgan Stanley

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India’s economic recovery has gained significant momentum, positioning the country as a key contributor to global GDP growth, according to a recent report by Morgan Stanley. As the Indian economy continues to outperform its counterparts in Asia and defy the weakness seen outside the region, the country is benefitting from a combination of cyclical and structural factors. With various indicators pointing towards a robust and broad-based recovery, India is expected to contribute 16% to global GDP growth over the period of 2023-2024.

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Banking News

11. RBI Cancels Certificate of Registration of 7 NBFCs and Surrender Permits of 14 NBFCs

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The Reserve Bank of India (RBI) has taken significant actions in the financial sector, canceling the certificate of registration of seven non-banking finance companies (NBFCs) and accepting the surrender permits of 14 NBFCs. These moves aim to regulate and maintain the stability of the non-banking financial institution (NBFI) sector.

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Business News

12. HPCL to set up Rs 500 cr ethanol plant in Una

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Chief Minister Sukhvinder Singh Sukhu announced that Hindustan Petroleum Corporation Limited (HPCL) has committed to setting up a state-of-the-art ethanol plant in Jeetpur Baheri, Una district. With an estimated cost of Rs 500 crore, this project aims to bolster the production of ethanol in the region and create numerous employment opportunities for local communities. Under the supervision of Chief Minister Sukhu, a high-level meeting was held to discuss the essential aspects of constructing the ethanol plant. The meeting delved into the logistics, infrastructure requirements, and the potential impact of the project on the local economy. It was decided that the plant would be established on 30 acres of land in Jeetpur Baheri, and an additional 20 acres would be allocated to support the project.

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Schemes News

13. Sanchar Saathi portal launched by Union Minister Shri Ashwini Vaishnaw

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The Union Minister for Communications, Ashwini Vaishnaw, launched the Sanchar Saathi Portal during a function held in New Delhi. This citizen-centric portal aims to empower mobile phone users by providing essential services, such as tracking and blocking lost mobile phones. The Department of Telecommunications has developed this initiative, which also allows citizens to control the connections associated with their names.

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Defence News

14. India and Indonesia bilateral naval exercise Samudra Shakti-23

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The ASW Corvette, INS Kavaratti, which was built and designed in India, has reached Batam, Indonesia to participate in the 4th India-Indonesia Bilateral exercise, Samudra Shakti-23, from May 14 to May 19, 2023. The Indian Navy’s Dornier Maritime Patrol aircraft and Chetak helicopter will also be part of the exercise, while the Indonesian Navy will be represented by KRI Sultan Iskandar Muda, CN 235 Maritime Patrol Aircraft, and AS565 Panther Helicopter.

Important Takeaways For All Competitive Exams

  • Chief of Naval Staff, India: Admiral R. Hari Kumar PVSM
  • President of Indonesia: Joko Widodo
  • Capital of Indonesia: Jakarta
  • Currency of Indonesia: Indonesian rupiah

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Summits and Conferences News

15. PM Modi to visit Japan, Papua New Guinea, and Australia for G7 and Quad Summits

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Prime Minister Narendra Modi will go on a three-nation tour, starting on May 19th and concluding on May 24th, which includes the G-7 Summit in Japan and the Quad Leaders’ Summit in Australia. From the 19th to the 21st of May, the Prime Minister will visit Hiroshima, Japan, for the G-7 Summit under the Japanese Presidency, accepting an invitation from the Japanese Prime Minister Fumio Kishida.

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Important days

16. World Telecommunication and Information Society Day 2023 observed on 17 May

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World Telecommunication Day, now called World Telecommunication and Information Society Day, is observed on May 17 under the auspices of the International Telecommunication Union (ITU). This occasion serves to emphasize the influence of the Internet and various communication technologies on global communities. Numerous regions worldwide continue to encounter obstacles concerning connectivity, and the ITU endeavors to narrow this divide. The theme for this year’s World Telecommunication and Information Society Day is “Enabling the least developed nations through information and communication technologies.” The event will take place at the International Telecommunication Union headquarters located in Geneva, Switzerland.

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17. India observes National Dengue Day on May 16 every year

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National Dengue Day is observed on May 16 every year to raise awareness about the mosquito-borne disease. Dengue cases usually surge in India during and after the monsoon season. The Union Ministry of Health and Family Welfare organises different events to observe National Dengue Day at several levels across the country. Dengue is caused by four distinct viruses and is spread by the female Aedes mosquitoes, which also transmit yellow fever, Zika viruses, and chikungunya. The recent information from a Lancet study indicates that between January and October of last year, approximately 1,10,473 cases of dengue were reported in India. As a result, it’s critical to be aware of the disease’s necessary preventative measures.

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Miscellaneous News

18. India & Bangladesh launch ’50 Start-ups Exchange Programme’

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The initial batch of 10 start-up companies participating in the 50 start-ups exchange program between India and Bangladesh have returned to Dhaka after a successful visit to India from May 8-12. These start-ups operate in various sectors, including e-commerce, health, transport and logistics, energy, education, and skill development. The exchange program facilitates visits between 50 start-ups from Bangladesh and 50 start-ups from India, aiming to foster partnerships, expand business relations, share experiences and knowledge, and promote collaboration among young entrepreneurs. The framework of this program was established during recent bilateral summits between the Prime Ministers of both countries.

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19. India plans to challenge EU carbon tax at WTO

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According to government and industry sources, India is planning to lodge a complaint with the World Trade Organisation about the European Union‘s proposal to levy tariffs ranging from 20% to 35% on high-carbon goods like steel, iron ore, and cement from India. This move comes as part of New Delhi’s effort to resist the EU’s Carbon Border Adjustment Mechanism (CBAM), a measure intended to incentivize local industries to adopt cleaner technologies to reduce carbon emissions, while also being discussed in bilateral talks.

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