Daily Current Affairs July 08&09

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs July 08&09. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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July 08&09| Daily Current Affairs 2023

Important Days – Daily Current Affairs July 08&09

1. On which day did the United Nations Educational, Scientific and Cultural Organization (UNESCO) celebrate World Kiswahili Language Day?
A) 1st July
B) 3rd July
C) 5th July
D) 7th July
E) 9th July
Answer: D) 7th July

• The World Kiswahili Language Day is celebrated by the United Nations Educational, Scientific and Cultural Organization (UNESCO) on 7th July.
• On 7 July 1954, Tanganyika African National Union (TANU) leader Julius KambarageNyerere, the eventual first President of Tanzania, adopted the Swahili Language as a unifying language for African independence struggles.
• Jomo Kenyatta, the first President of Kenya, followed suit and also used the Swahili language to mobilize and unify the people of Kenya in the struggle against colonialism through the use of the popular “Harambee” slogan
• Theme: “Unleashing Kiswahili’s potential in the digital era”
• Edition: 2nd
• First Edition: 2022

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Sports – Daily Current Affairs July 08&09

2. Who won the British Grand Prix?
A) Lewis Hamilton
B) Max Verstappen
C) ValtteriBottas
D) Sebastian Vettel
E) Charles Leclerc
Answer: B) Max Verstappen

• Held In: Silverstone Circuit

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3. Who won the men’s singles title at the Canada Open 2023 badminton tournament?
A) Lakshya Sen
B) KentoMomota
C) Viktor Axelsen
D) Chou Tien Chen
E) Lee ZiiJia
Answer: A) Lakshya Sen

• Held In: Calgary, Canada
• This is Lakshya’s second BWF World Tour 500 title as he previously won the India Open in January 2022.

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Obituary – Daily Current Affairs July 08&09

4. Who was the first woman chief secretary of Madhya Pradesh, and a retired Indian Administrative Services (IAS) officer, who recently passed away?
A) Nirmala Buch
B) Indira Gandhi
C) Sonia Gandhi
D) Nirmala Sitharaman
E) Mamata Banerjee
Answer: A) Nirmala Buch

• Retired Indian Administrative Services (IAS) officer and Madhya Pradesh’s first woman chief secretary Nirmala Buch died of a prolonged age-related illness
• Known for her image of a “strict administrator” in bureaucratic circles, the 1960-batch IAS officer, Buch had served the Chief Secretary of Madhya Pradesh from September 1991 to 1993.
• She had also served as financial and education secretary from 1975-1977.
• Before that, Buch had served the YojanaAayog (now NITI Ayog) and she did a pioneering role in framing of ‘graminvikas’ and ‘panchayati raj’ system in MP.

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Banking and Finance – Daily Current Affairs July 08&09

5. Which organization has operationalized the ₹10,000-crore Urban Infrastructure Development Fund (UIDF) announced in this year’s Budget?
A) Reserve Bank of India (RBI)
B) National Housing Bank (NHB)
C) Securities and Exchange Board of India (SEBI)
D) National Infrastructure Investment Fund (NIIF)
E) Housing Development Finance Corporation (HDFC)
Answer: B) National Housing Bank (NHB)

• The National Housing Bank (NHB) has operationalised the ₹10,000-crore Urban Infrastructure Development Fund (UIDF) announced in this year’s Budget for creation of urban infrastructure in tier-2 and tier-3 cities.
• The initial corpus for this fund — managed by NHB— is ₹10,000 crore.
• UIDF has been launched to supplement efforts of the State governments by providing stable and predictable source of finance for creation of urban infrastructure in tier-2 and tier-3 cities.
• As many as 459 tier-2 cities with population of 50,000 to less than a lakh and 580 tier-3 cities with population of one lakh to less than a million as per 2011 census are being covered under UDIF as of now.
• Interest rate on UIDF loans has been kept at bank rateminus 1.5 percent i.e., 5.25 percent at present.
• The loan (principal) will be repayable in five equal annual instalments within seven years from the date of withdrawal, including a moratorium period of two years while interest will be payable on quarterly basis.
• Focus will be on basic services like sewerage and solid waste management, water supply and sanitation, construction and improvement of drains/storm water drains, etc. and impact-oriented projects would be prioritised.
• The minimum size and maximum size of the project proposal shall be ₹5 crores (₹ 1 crore for northeast & hilly States) and ₹ 100 crore respectively.
• The list of activities eligible under UIDF include Water supply network (new/augmentation/rehabilitation); construction and improvement of drains/storm water drains; sewerage network (new/augmentation/rehabilitation); sewage treatment plants – secondary/tertiary treatment; comprehensive projects of pay and use toilets, operated, and managed by private sector; Solid Waste Processing Plants (new/augmentation); comprehensive development of land reclaimed from legacy dumpsite remediation; Roads (excluding maintenance works), within area development projects with provision for all utilities to be taken through an underground conduit; over bridges, grade separators, underpasses; electric/gas crematorium; comprehensive area development projects; local area plan for de-congestion; heritage conservation; transit oriented development for creating dense, mixed-use developments near public transportation;
• Both new and ongoing projects are eligible to access UIDF and shall be aligned to the various urban missions and programmes of Government of India
• The normative allocation of first tranche of ₹ 10,000 crore under UIDF for 2023-24 has been advised by NHB to States and UTs inviting project proposals under the Fund.
• Finance Department of States/ UTs have been designated as the nodal department for implementation of the fund while NHB is operationalising the fund through their regional offices spread across the country.

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6. Which organization has set up a 5-member group to implement the recommendations of the RBI committee on Asset Reconstruction Companies (ARCs)?
A) Reserve Bank of India (RBI)
B) Indian Banks’ Association (IBA)
C) Securities and Exchange Board of India (SEBI)
D) Ministry of Finance
E) National Company Law Tribunal (NCLT)
Answer: B) Indian Banks’ Association (IBA)

• The Indian Banks’ Association (IBA) has constituted a five-member working group for implementing the recommendations of the Reserve Bank of India’s committee on the “working of the Asset Reconstruction Companies (ARCs)”.
• The Group comprises Ajit Kumar, MD and CEO, Secondary Loan Market Association (SLMA); Hari Hara Mishra, CEO, Association of ARCs in India; MythiliBalasubramanian, Executive Director, Edelweiss ARC; and senior officials from State Bank of India (Dharmendra Pali) and ICICI Bank (AnupamaRanade).
• The Group has been constituted at the behest of the RBI. The central bank wants IBA and SLMA to take appropriate measures for early implementation of the committee’s recommendations in consultation with the lenders and ARCs.
• In light of the committee’s recommendations aimed at enablingARCs to fulfill the increasing demand of the financial sector, the working group will undertake a thorough review of assignment agreements and trust deed templates.
• This review will focus on the acquisition of stressed assets by ARCs from lenders, and it will incorporate necessary updates to align with the evolving changes and expectations within the ARC sector.
• The Secondary Loan Market Association (SLMA) will be engaged for standardisation of documents.
• RBI had set up a committee to undertake a comprehensive review of the working of ARCs under the chairmanship of Sudarshan Sen, former ED, RBI, on April 28, 2021.
• The report of the committee was released on November 2, 2021.
• The ARC framework is designed to allow originators to focus on their core function of lending by removing sticky, stressed financial assets from their books. ARCs act as the primary agent for recovery upon acquisition of such financial assets, per the committee.
• The ARC framework is also designed to help borrowers revive their businesses, which protects the viable and productive assets of the economy and often ensures a better return to banks and financial institutions (FIs) from their stressed assets.

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Acquisitions and Mergers – Daily Current Affairs July 08&09

7. By how much has the Life Insurance Corporation of India (LIC) reduced its stake in India Cements Ltd.?
A) From 4.15% to 2.25%
B) From 6.92% to 4.57%
C) From 3.83% to 1.98%
D) From 5.87% to 3.83%
E) From 2.51% to 0.97%
Answer: D) From 5.87% to 3.83%

• Life Insurance Corporation of India (LIC) has gradually reduced its stake in the India Cements Ltd. from 5.87% to 3.83%.
• The decrease of 2.042% in holding happened between November 21, 2007 and July 4, 2023 at an average price of ₹191.59 apiece.
• It was through open market sale.
• Post the sale of 63.28 lakh share, LIC currently holds 1.19 crore shares of India Cements.

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Appointments – Daily Current Affairs July 08&09

8. Who has been appointed as the chairperson of the International Financial Services Centres Authority (IFSCA)?
A) K Rajaraman
B) Ravi Shankar Prasad
C) Narendra Modi
D) Nirmala Sitharaman
E) Piyush Goyal
Answer: A) K Rajaraman

• The government has appointed Telecom Secretary K Rajaraman as the chairperson of the International Financial Services Centres Authority (IFSCA).
• He will succeed Injeti Srinivas, the first chairperson of the regulatory authority, appointed in 2020.
• Rajaraman’s appointment is for a period of three years with effect from the date of assumption of charge, or till attaining the age of 65, or until further orders, whichever is the earliest.
• The IFSCA was established in April 2020 under the International Financial Services Centres Authority Act, 2019.
• It is headquartered at GIFT City, Gandhinagar.
• The IFSCA is a unified authority for the development and regulation of financial products, financial services and financial institutions in the International Financial Services Centre (IFSC) in India.
• At present, GIFT IFSC is the maiden international financial services centre in India.
• Prior to the establishment of IFSCA, the domestic financial regulators, namely, RBI, SEBI, PFRDA, and IRDAI regulated the business in IFSC.
• The main objective of IFSCA is to develop a strong global connect and focus on the needs of the Indian economy as well as to serve as an international financial platform for the entire region and the global economy as a whole.

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9. Who is appointed as President of Latvia?
A) Edgars Rinkevics
B) Valdis Zatlers
C) EgilsLevits
D) AndrisBerzins
E) Raimonds Vejonis
Answer: A) Edgars Rinkevics

• Latvia’s foreign minister Edgars Rinkevics sworn in as EU’s first openly gay President
  Edgars Rinkevics is the seventh president of Latvia since it regained its independence in 1991.
• He succeeds EgilsLevits.
• Rinkevics was foreign minister from 2011 until his official resignation

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Science and Technology – Daily Current Affairs July 08&09

10. Which two organizations have signed a Memorandum of Understanding (MoU) to explore collaborative opportunities in space technology?
A) Voyager Space and Indian Space Research Organisation (ISRO)
B) Voyager Space and NewSpace India Limited
C) Voyager Space and SpaceX
D) NewSpace India Limited and Indian Space Research Organisation (ISRO)
E) NewSpace India Limited and SpaceX
Answer: B) Voyager Space and NewSpace India Limited

• Voyager Space, a global leader in space exploration, is pleased to announce the signing of a Memorandum of Understanding (MOU) with NewSpace India Limited (NSIL), the commercial arm of the Indian Space Research Organization (ISRO), to foster collaboration in spacecraft launch and deployment opportunities on-board NSIL’s Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV).
• Under this MOU, Voyager Space and NSIL will explore launch and deployment opportunities for small satellites orbited by SSLV and PSLV.
• The two organizations will also study the use of space qualified components from NSIL in support of spacecraft manufacturing, deployment, operations, and other areas of interest.
• ISRO’s state-of-the-art launch infrastructure and NSIL’s experience in delivering payloads to orbit expands access to space for Voyager’s global customer base.
• Voyager Space has previously flown customer satellites on two PSLV missions.
• Voyager Space is dedicated to building a better future for humanity in space and on Earth. With over 35 years of spaceflight heritage and over 2,000 successful missions, Voyager is powering the commercial space revolution.
• Voyager delivers exploration, technology, and defense solutions to a global customer base that includes civil and national security agencies, commercial companies, academic and research institutions, and more.
• NewSpace India Limited (NSIL), a Central Public Sector Enterprise (CPSE), under Department of Space (DOS) is the commercial arm of Indian Space Research Organisation (ISRO).
• NSIL major business areas include Building Launch Vehicles and Satellites; Providing Launch Services for Global satellite customers on-board ISRO’s Launch Vehicles; Providing Satellite based services through its fleet of in-orbit communication satellites; Mission Support Services and Transfer of ISRO developed Technologies to Indian Industry.
• NSIL is striving towards creating better Space Eco-system in the country by enhancing the participation of private Indian Industry players in space related activities.

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11. Which organization honored Indian astrophysicist AswinSekhar by naming a minor planet after him?
A) International Astronomical Union (IAU)
B) Indian Space Research Organisation (ISRO)
C) National Aeronautics and Space Administration (NASA)
D) European Space Agency (ESA)
E) Indian Institute of Astrophysics (IIA)
Answer: A) International Astronomical Union (IAU)

• The International Astronomical Union (IAU) has honoured Indian astrophysicist AswinSekhar by naming a minor planet after him.
• The honour was conferred on him at the 2023 edition of Asteroids Comets Meteors Conference, which took place in Arizona on June 21, 2023.
• Only five Indians — Nobel laureates CV Raman and Subramanya Chandrasekhar; mathematician Srinivasa Ramanujan; prominent physicist and astronomer Vikram Sarabhai; astronomer and former president of IAU ManaliKallatVainuBappu, who was also the co-discoverer of the Wilson-Bappu Effect, were conferred this honour before him.
• Sekhar, the first professional meteor scientist from India, said his work focuses on forecasting meteor showers, which entails the understanding of the past, present, and future of meteoroid streams and modeling of meteoroid stream particles and how they evolve around the solar system and interact with Earth.
• On how his study contributed to this field, the astrophysicist said his study focused on a concept called ‘resonances’, which is essentially the periodic gravitational effects of Jupiter and Saturn on meteor showers and how they intensify the meteor showers in particular years and so on.

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International Affairs – Daily Current Affairs July 08&09

12. Which countries have agreed on a roadmap to further boost their ties and identify new areas of cooperation in sectors like trade, investment, agriculture, defence, and education?
A) India and Sri Lanka
B) India and Tanzania
C) India and Bangladesh
D) India and Nepal
E) India and Myanmar
Answer: B) India and Tanzania

• India and Tanzania have agreed on a roadmap to further boost their time-tested ties by identifying new areas of cooperation in sectors like trade, investment, agriculture, defence, and education, the foreign ministers of the two countries said.
• External Affairs Minister S Jaishankar met Tanzania’s Minister of Foreign Affairs and East African Cooperation Stergomena Tax at the 10th India-Tanzania Joint Commission Meeting.

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National Affairs – Daily Current Affairs July 08&09

13. Where did the 3rd Trade and Investment Working Group Meeting take place?
A) New Delhi
B) Mumbai
C) Kevadia
D) Kolkata
E) Bangalore
Answer: C) Kevadia

• 3rd Trade and Investment Working Group Meeting begins in Kevadia, Gujrat
• More than 75 international delegates from various G20 countries are taking part in the three-day meeting at Kevadiya.
• The meeting began with delegates participating in a seminar on ‘Trade Infrastructure’.
  3rd G20 Culture Working Group meeting begins in Hampi, Karnataka in the gracious presence of Union Parliamentary Affairs minister Prahlad Joshi

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Over All Review

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