Daily Current Affairs

1st July 2023

 Daily Current Affairs
1st July 2023

BANKING & FINANCE

ICICI Lombard & ICICI Prudential Life Insurance jointly launched combi product ‘ishield’
 ICICI Lombard General Insurance and
ICICI Prudential Life Insurance have
jointly launched a combi product, ‘iShield’,
which will provide customers with both
health and life insurance under the “use
and file” procedure.
About ‘iShield’ :
 “iShield is a one-of-its-kind offering that is
synergistic in capabilities and shares the
brand values of ICICI Prudential Life Insurance and ICICI Lombard.”
 iShield, will enable customers to take care of expenses required for medical
treatments.
 Besides, it will also provide a lump sum amount to the family in case of the
unfortunate demise of the policyholder.
 The health insurance component covers expenses related to hospitalisation, day-
care treatments, pre and post hospitalisation, and homecare treatment, etc.
 The life insurance cover will continue till the age of 85 ensuring the family has
sufficient financial resources to continue with their lives.
 Customers can easily purchase this solution by filling in a single application and
undergoing a medical check-up.
 Besides the vast agent network, multiple easy-to-use touchpoints such as the
company website or the mobile app will provide customers a hassle-free purchase
and premium payment experience.
About ICICI Lombard General Insurance Company Limited :
 Founded : 2001
 Headquarters : Mumbai, Maharashtra, India
 MD & CEO : Bhargav Dasgupta
 It is a joint venture between ICICI Bank- India’s second largest bank and Fairfax
Financial Holdings Limited- a financial services company based in Toronto.
 ICICI Bank had 64% stake in the venture while Fairfax had 36% in the joint venture.
About ICICI Prudential Life Insurance :
 Founded : 2000 (started its operations in 2001)
 Headquarters : Mumbai, Maharashtra, India
 MD & CEO : Anup Bagchi
 It is established as a joint venture between ICICI Bank Limited and Prudential
Corporation Holdings Limited.
 In 2016, the company became the first insurance company in India to be listed in the
domestic stock exchanges.

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NATIONAL NEWS
India's first-ever report on Critical Minerals for India is unveiled by the Union Minister
of Mines Pralhad Joshi:
 Union Minister of
Mines, Pralhad Joshi,
has unveiled India's
first-ever report on
Critical Minerals for
India.
 The report identifies 30
critical minerals
essential for sectors including defence, agriculture, energy, pharmaceuticals,
and telecom.
 This comprehensive list marks a milestone in India's pursuit of self-reliance and
security in mineral resources, aligning with the vision of achieving 'Net Zero'
targets.
 Mr Joshi highlighted the country's inclusion as the newest partner in the Mineral
Security Partnership during Prime Minister Narendra Modi's recent visit to the United
States.
 The list aims to guide policy formulation, strategic planning, and investment decisions
in the mining sector.
The National Research Foundation Bill, 2023, has received approval from the centre
 The union
government has
decided to bring the
National Research
Foundation (NRF)
Bill, 2023 to
strengthen the
research ecosystem in
the country.
 The Bill approved by
the Union Cabinet
will pave the way to establish NRF to seed, grow and promote research and
development and foster a culture of research and innovation throughout India’s
universities, colleges, and research institutions.
 The Minister informed that the bill has a provision to establish NRF, an apex body to
provide high-level strategic direction of scientific research in the country at a
total estimated cost of 50 thousand crore rupees during the next five years.
 The Bill will repeal the Science and Engineering Research Board (SERB) established by

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an act of Parliament in 2008 and subsume it into NRF which has an expanded
mandate and covers activities over and above the activities of SERB.
 The NRF will forge collaborations among the industry, academia, and government
departments and research institutions, and create an interface mechanism for
participation and contribution of industries and state governments in addition to the
scientific and line ministries.
About NRF
 CEO: Matthew R. Shay
 Headquarters: Washington, D.C., United States
 Founded: June 1911
 President: Matthew R. Shay

The union government has asked banks to increase financing for MSMEs to meet a one
trillion-dollar merchandise export objective by 2030.
 The Commerce and Industry
Minister Piyush Goyal has
asked the Indian banks to
ensure enhanced and
affordable credit to
MSMEs to achieve the
target of one trillion dollar
merchandise exports by
2030.
 Mr Goyal stated this in a meeting called to discuss the issue of increasing the
availability of export credit to the MSME exporters.
 It was attended by the top officials of 21 banks including State Bank of India,
Bank of Baroda, Punjab National Bank, Canara Bank, Union Bank of India,
Bank of India and Central Bank of India.
 Export Credit Guarantee Corporation Limited can examine the extension of the
scheme proposed for nine banks, to all the banks, so that the export credit offtake for
the MSME Exporters can be increased.
 He advised the banks to take advantage of the scheme and extend adequate and
affordable export credit to MSME exporters and this will enable the country to
achieve its target of one trillion dollar merchandise exports by 2030.

A Tunnel to save mangroves to raise bullet train project cost to ₹10,000 crore in
Maharashtra

 A seven-km undersea tunnel will be constructed for the bullet train project to
save mangrove forests in Maharashtra.
 The tunnel will be a single tube tunnel to accommodate both up and down tracks.
 The tunnel construction is aimed towards conserving nearly 12 hectares of
mangroves in the creek.

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 This will escalate the construction cost of the

Mumbai-Ahmedabad High-Speed Rail
Corridor project's 21-km long stretch from
₹100 crores to ₹10,000 crores.
 The tunnel will ensure the protection of the
bird sanctuary and mangroves around Thane
Creek.
 The undersea tunnel will escalate the
construction cost of the Mumbai-Ahmedabad
High-Speed Rail Corridor project’s 21-km long
stretch from Bandra Kurla Complex Station to
Shilphata.
 The National High-Speed Rail Corporation Limited (NHSRCL) recently signed a
contract with Afcons for constructing India’s first undersea rail tunnel, which is
part of a 21-kilometre-long tunnel for the Mumbai-Ahmedabad bullet train project.
 The undersea tunnel at Thane Creek will be seven-kilometres-long and around 25 to
65 metres below the ground level.
 Sixteen kilometres of the tunnel will be executed using TBMs and five kilometres will
be constructed with the new Austrian Tunnelling Methodology.

National Pension Scheme: PFRDA plans to bring in a systematic withdrawal plan

 Pension Fund Regulatory and

Development Authority (PFRDA)
intends to introduce a plan during the
second half of this fiscal, to allow the
subscribers of the National Pension
Scheme (NPS) to withdraw 60% of the
accumulated corpus systematically
instead of the current system of a one-
time withdrawal.
 As per the proposal, NPS subscribers
would be allowed to systematically
withdraw 60% of their corpus post-
retirement up to the age of 75, instead of
the current system of one-time withdrawal,
while 40% has to be invested in annuity.
 Currently, National Pension Scheme (NPS)
subscribers after turning 60 years withdraw
up to 60 per cent of the retirement corpus
as a lump sum while the remaining 40 per
cent of the corpus mandatorily goes into

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1st July 2023

buying an annuity.
 The amount can be fixed by the subscriber any number of times and it can be
withdrawn in lumpsum or on a monthly, quarterly, half-yearly or annual basis.
 It applies to those in the age group of 60 to 75.

India, UAE set a target of doubling non-oil bilateral trade to $100 billion by 2030

 India and the UAE

have set a target of
doubling non-oil
bilateral trade to
$100 billion by 2030
from $48 billion at
present.
 Goyal and the UAE’s
Minister of State for
Foreign Trade,
Thani bin Ahmed Al
Zeyoudi, decided to
revise the target from
the earlier goal of an overall bilateral trade of $100 billion by 2030 at the first
meeting of the Joint Committee of the India-UAE Comprehensive Economic
Partnership Agreement (CEPA).
 On the proposed rupee-dirham trade, Goyal pointed out that discussions were
progressing at a fast pace.
 The RBI and the Central Bank of the UAE have been in active dialogue.
 The Finance Ministry is also supportive of the issue.
 The UAE Minister pointed out that in the first 12 months of the CEPA, bilateral non-
oil trade reached $50.5 billion, which was 5.8 per cent higher than the corresponding
period a year earlier.
 The CEPA was benefitting Indian exports from sectors such as textiles, agriculture
products, footwear, automobiles, gems and jewellery, while UAE exporters were
increasing shipments of iron and steel, aluminium, and polymers,
 The UAE is the principal supplier of petroleum products to India and is also a large
consumer of refined petroleum products.

INTERNATIONAL NEWS
India removed from UNSG report on impact of armed conflict on children

 The United Nations Secretary-General Antonio Guterres has removed India

from his annual report on the impact of armed conflict on children, citing
“measures taken by the government to better protect” them.

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 Guterres also acknowledged

India's technical mission and a
workshop on strengthening
child protection.
 India had been included in
the report since 2010, alongside
other countries, including
Burkina Faso, Cameroon,
the Lake Chad Basin,
Nigeria, Pakistan and the
Philippines.
 Initially, India was included on the list due to allegations of the recruitment of young
boys by armed groups in Jammu and Kashmir and the detainment of boys by the
security forces on grounds of association with armed groups.

STATE NEWS
India’s 1st ‘Police Drone Unit’ launched in Chennai for aerial surveillance

 The Greater Chennai City

Police (GCP) launched
India’s first ‘Police Drone
Unit’ for aerial surveillance
over vast areas and quick
detection of criminal activities.
 Director General of Police
(DGP) and Head of Police
Force C. Sylendra Babu
inaugurated the newly-created
special unit at Besant Avenue,
Adyar, Chennai, Tamil Nadu
(TN).
 The unit was established at a cost of Rs 3.6 crore.
About ‘Police Drone Unit’ :
 The unit, which has a total of 9 drones under 3 categories -- Quick Response
Surveillance drones, heavy-lift multirotor drones, and Long Range Survey wing plane
and 20 trained police personnel.
 These drones are equipped with built-in artificial intelligence (AI) facilities and can be
operated up to 10km from the ground station.
 Currently, the drones are operated around Marina and Elliots beaches.
Uses :
 The drones have a thermal object imaging facility and will detect if any suspect has a

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1st July 2023

knife or some other objects on his body.

 Using this facility, night patrolling will become much easier and based on
information provided by drones, the suspects could be caught easily.
 The drones will be used to monitor movements at isolated places as well as uniting
anti-social elements.
 Also drones could be used to read the number plates of vehicles.

Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy Launched Jagananna Amma Vodi
Scheme To Disburse Financial Aid Of Rs 6,393 Crores

 Andhra Pradesh (AP)

Chief Minister (CM) Y S
Jagan Mohan Reddy
launched the 'Jagananna
Amma Vodi' scheme for
the fourth year, under
which financial assistance
of Rs 6,393 crore will be
deposited into the bank
accounts of 43 lakh
beneficiaries, at Kurupam
in Parvathipuram Manyam
district, AP.
Objective :
 To provide financial assistance to the mother or recognized guardian of those children
who belong to the below poverty line category.
Key Highlights :
 Spanning 10 days, Amma Vodi will be distributed in all the mandals benefiting more
than 83 lakh students studying in classes 1 to 12 across AP.
 Under the Amma Vodi scheme, eligible mothers who send their children to schools
will receive Rs 15,000 financial aid to meet the educational expenses.
 The Government of AP has credited a total of Rs 26,067 crore under Jagananna Amma
Vodi scheme, including Rs 6,393 crore disbursal set in motion on June 28, 2023.
About Amma Vodi scheme :
 Jagananna Ammavodi was launched by Chief minister of Andhra Pradesh Y. S. Jagan
Mohan Reddy on 9 January 2020.
Eligibility of the Scheme :
 The student must belong to below the poverty line category.
 The student must be a permanent and legal resident of Andhra Pradesh state.
 Students must have a working Aadhar card number.
 The student must have a white ration card.
 The student must have a working and eligible PAN card.

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 The initial eligibility criteria which included 75% of mandatory attendance was
relaxed due to COVID-19 pandemic.
 Students studying in all the government, private aided, private unaided and residential
schools/junior colleges are eligible to avail the scheme whereas dropouts, income
tax payers and government employees have been considered ineligible.
About AP :
 Governor: S. Abdul Nazeer
 Chief minister: YS Jagan Mohan Reddy
 National Park : Papikonda National Park, Rajiv Gandhi (Rameshwaram) National Park,
Sri Venkateswara National Park
 Wildlife Sanctuaries : Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary,
Krishna Wildlife Sanctuary, Gundla Brahmeswaram Wildlife Sanctuary

India’s biggest natural arch formed 184 million years ago founded in Odisha by GSI

 A team of the Geological Survey of

India (GSI) discovered India’s biggest
natural arch during their survey of coal
in Kenduadihi block in Odisha’s
Sundargarh district.
 The state unit of the GSI has proposed to
declare the ‘Natural Arch’ in the Kanika
range of Sundargarh forest division, a
Geo Heritage Site.
 If it is done, it will be the biggest natural
arch of the country to have the Geo Heritage tag.
 Currently, India has two other natural arches - one located in the Tirumala hills of
Tirupati and the other in the Andaman and Nicobar Islands, but both are smaller
than the one in Sundargarh.
About Sundargarh Natural Arch :
 The Sundargarh natural arch, present in the ferruginous sandstone of the Upper
Kamthi formation, dates back to about 184 to 160 million years in the lower to middle
Jurassic age.
 The arch has an oval-shaped arch and has a length of 30 metres at the base and is 12
metres high.
 The alcove of the natural arch has a maximum height and width of 7 metres and 15
metres, respectively.
 These structures indicate a high-energy fluvial environment during the process of
sedimentation.
What is a natural arch?
 A natural arch is a natural landform where an arch has formed with an opening
underneath.

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Formation of natural arch :

 It could be formed due to fault activities and nature of lithotype which have enhanced
the process of sub-aerial weathering over a long period.
What is a Geo Heritage Site ?
 Geo heritage sites are sites of rare and unique geological, geo-morphological,
mineralogical, petrological, and paleontological significance, including caves and
natural rock sculptures of national and international interest.
 GSI declares geo-heritage sites/ national geological monuments for protection and
maintenance.
 List of Geo Heritage sites in India
About GSI :
 Founded : 4 March 1851
 Headquarters : Kolkata, West Bengal, India
 Director General : Janardan Prasad
 Parent Government agency : Ministry of Mines
 It is one of the oldest of such organisations in the world and the second oldest survey
in India after Survey of India (founded in 1767).

APPOINTMENTS & RESIGNATIONS

Senior bureaucrat Shiv Das Meena appointed as the new Chief Secretary of Tamil Nadu

 The Tamil Nadu (TN)

government has appointed
senior bureaucrat Shiv Das
Meena as the next Chief
Secretary of TN.
 He will take charge as the 49th
chief secretary of TN.
 Meena will take over as Chief
Secretary from V Irai Anbu,
who is retiring from service on
June 30,2023.
About Shiv Das Meena :
 Meena is an 1989 batch Indian Administrative Service (IAS) officer hails from
Rajasthan.
 He began his career as an assistant collector in Kanchipuram in TN.
 He had helmed Metrowater, TAHDCO, Medical Services Corporation as managing
director, and executive director of Tamil Nadu Electricity Board.
 He was also commissioner of commercial taxes, agriculture, civil supplies and
consumer protection departments after late chief minister J Jayalalithaa returned to
power in 2011.

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 He was serving as the Secretary of the Municipal Administration and Water Supply
(MAWS) Department after his return from central deputation in 2021.
 He joined the Ministry for Housing and Urban Affairs (MoHUA) as Joint Secretary and
was later promoted to Additional Secretary.
 Subsequently, he served as the chairman of the Central Pollution Control Board
(CPCB).
About Tamil Nadu :
 Governor: Ravindra Narayan Ravi
 Chief minister: M. K. Stalin
 Capital: Chennai
 Dance : Bharatnatyam, Karakattam
 National Park : Mudumalai National Park, Mukurthi National Park, Guindy National
Park, Gulf of Mannar Marine National Park
 Wildlife Sanctuaries : Kalakad Wildlife sanctuary, Karikili Bird Sanctuary,
Vedanthangal Bird Sanctuary
 Tiger Reserve : Anamalai Tiger Reserve
 Biosphere Reserve : Agasthyamalai Biosphere Reserve

Gernot Dollner take charge as New Audi CEO, succeeds Markus Duesmann

 German luxury car brand Audi has

appointed Gernot Dollner as new Chief
Executive Officer (CEO) of the Board of
Management, effective September 1,
2023.
 He will take over Markus Duesmann.
About Gernot Dollner :
 Gernot Dollner joined Volkswagen as a
Ph.D. candidate in 1993 and subsequently
served in a number of management roles
at Porsche, including as head of Concept Development and head of the Panamera
Series.
 Since 2021, he has overseen the Volkswagen Group’s Product and Group Strategy
and the General Secretariat.

RANKING AND INDEX

The "Metabolic Noncommunicable Health Report of India-the ICMR-INDIAB National
Cross-sectional Study" has revealed updated national figures for non-communicable
diseases.
 The new national estimates for non-communicable diseases (NCDs)- “Metabolic
non-communicable health report of India-the ICMR-INDIAB National Cross-

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 sectional Study” was

recently released.
 The study was funded by the
Indian Council of Medical
Research and the Ministry of
Health and Family Welfare.
 It was a cross-sectional,
population-based survey of
adults above 20 years, across
the country using a stratified,
multistage sampling design.
 The four major NCDs are
cardiovascular diseases,
cancers, chronic respiratory
diseases and diabetes.
 They all share behavioural risk factors such as unhealthy diet, lack of physical activity,
and use of tobacco and alcohol.
 India is facing the dual problem of malnutrition and obesity as there is the availability
of surplus food, but after being exposed to fast foods, lack of sleep, exercise and stress
creates NCDs.
 India has 101 million people with diabetes and 136 million people with
prediabetes.
 315 million people had high blood pressure; 254 million had generalised obesity, and
351 million had abdominal obesity.
 213 million people had hypercholesterolaemia and 185 million had high low-density
lipoprotein (LDL) cholesterol.
 Hypercholesterolaemia is a situation where fat gets collected in arteries and puts
individuals at greater risk of heart attack and strokes.
 Highest diabetes states: Goa, Puducherry and Kerala
 Highest prediabetes state: Sikkim
 Highest hypertension State: Punjab
 Highest Generalised obesity and abdominal obesity: Puducherry
 Highest hypercholesterolemia and LDL cholesterol: Kerala
 Lowest NCDs states: U.P., Mizoram, Meghalaya and Jharkhand
 The study is the first comprehensive epidemiological research paper which includes
participants from 31 States and some Union Territories, with a large sample size of
1,13,043 individuals.

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ACQUISITIONS & MERGERS

HDFC Limited-HDFC Bank merger to be effective July 1, 2023, shares rise nearly 2%

 Housing Development
Finance Corporation
Limited Chairman Deepak
Parekh stated that HDFC
Bank, the largest private
sector bank in India, and
housing finance company
HDFC Ltd are set to
complete their merger by
July 1,2023.
 The boards of HDFC and the
HDFC bank met on June 30, 2023 to clear and approve the merger & it will be the last
board meeting of HDFC.
 Meanwhile, HDFC vice-chairman and CEO Keki Mistry informed that the delisting
of the HDFC stock from exchanges will be effective from July 13, 2023 & will start
trading under HDFC Bank ticker.
 Post-merger, Parekh will retire and Keki Mistry and HDFC MD Renu Karnad will
be board members of HDFC Bank.
History :
 Termed as the biggest transaction in India's corporate history, HDFC Bank on April
4, 2022 agreed to take over the biggest domestic mortgage lender in a deal valued at
about $40 billion, creating a financial services titan.
 The proposed entity will have a combined asset base of around Rs 18 lakh crore.
 Once the deal is effective, HDFC Bank will be 100% owned by public shareholders,
and existing shareholders of HDFC will own 41% of the bank.
 As per the merger terms, every HDFC shareholder will get 42 shares of HDFC Bank
for every 25 shares they hold.
About HDFC :
 Established : 1977
 Headquarters : Mumbai, Maharashtra, India
 Chairman : Deepak Parekh
About HDFC Bank Ltd :
 Founded : August 1994
 Headquarters : Mumbai, Maharashtra, India
 MD & CEO : Sashidhar Jagdishan
 Tagline : We Understand Your World

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MOUS AND AGREEMENT

Vistara-Lufthansa Partnership To Enhance Connectivity Across 12 Destinations In Europe

 Vistara, India's leading full-service carrier, has

expanded its codeshare partnership with Lufthansa,
one of Europe's premier airlines, enabling enhanced
connectivity to Vistara customers while travelling
across Europe.
 Now, the 12 key destinations that get included in
Vistara’s network are Amsterdam (AMS), Stockholm
(ARN), Berlin (BER), Budapest (BUD), Copenhagen
(CPH), Rome (FCO), Hamburg (HAM), Helsinki
(HEL), Lisbon (LIS), Munich (MUC), Oslo (OSL),
Prague (PRG).
 The bilateral codeshare agreement between Vistara and
Lufthansa enables both airlines to sell flights on each other's networks, offering
convenient travel options to customers.
 Vistara, which is also a joint venture of Tata Sons and Singapore Airlines, and
Lufthansa had entered into a unilateral codeshare agreement, in 2019, enabling the
latter to add its designator code (LH) to Vistara flights for 18 destinations in India.

SPORTS NEWS
Youth Affairs and Sports Ministry approves wrestlers Vinesh Phogat & Bajrang Punia's
proposal for training in Kyrgyzstan & Hungary under TOPS

 Youth Affairs and Sports

Ministry has approved
wrestlers Vinesh Phogat
and Bajrang Punia's
proposal for training in
Kyrgyzstan and Hungary
under Target Olympic
Podium Scheme (TOPS).
 Both the wrestlers had sent their proposals to the Ministry, and TOPS team and it was
cleared within 24 hours of their request.
 Olympic medalist Bajrang Punia will head out to Issyk-Kul, Kyrgyzstan for 36
days training camp.
 While world championships medalist Vinesh Phogat will first head out to Bishkek,
Kyrgyzstan for a week of training then to Hungary for 18 days of training camp.
 Vinesh will be accompanied by physiotherapist Ashwini Jeevan Patil, sparring partner
Sangeeta Phogat and Coach Sudesh.

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 Bajrang Punia will be accompanied by Coach Sujeet Maan, Physiotherapist Anuj

Gupta, sparring partner Jitender and Strength and Conditioning expert Kaazi Hasan.
 The government will fund air tickets, camp expenses and other miscellaneous costs.
 Both Vinesh and Bajrang are set to leave in the first week of July.

About TOPS
 The Target Olympic Podium Scheme is a major effort of the Ministry of Youth Affairs
and Sports that aims to support India's finest athletes.
 The plan attempts to improve these athletes' training so that they can win medals at
the Olympics.
 In September 2014, the Ministry of Youth Affairs and Sports (MYAS) launched the
Target Olympic Podium Scheme (TOPS) to improve India's performance at the
Olympics and Paralympics.

India defeated Iran to win the Asian Kabaddi Championship in Busan, South Korea:

 India beat Iran 42-32 in the

final of the Asian Kabaddi
Championship 2023 in Busan,
South Korea.
 This is India’s eighth title in
nine editions.
 Indian captain Pawan
Sehrawat led from the front
with a super 10.
 Earlier in the day, India had
beaten Hong Kong 64-20 to end the league stage of the tournament undefeated.
 Six teams - India, Iran, Japan, Korea, Chinese Taipei and Hong Kong -
participated in the Championships.
 India won all five matches in the league stage and topped the points table.
 Iran came second, only losing to India in the league stage, and made it to the final.
 While India’s biggest win in the league stage, a 76-13 victory, came against Korea on
the opening day of the tournament, their narrowest victory of 33-28 came against Iran.
 The next big challenge for the Indian kabaddi teams will be the upcoming Asian
Games in Hangzhou, China from September 23 to October 8.
 Iran, who beat India in the semi-finals in Jakarta in 2018, will be the defending
champions at the continental multi-sport showpiece.

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IMPORTANT DAYS

National Doctor’s Day 2023: July 1

 On July 1st National
Doctor’s Day 2023 is
observed nationally all
over India as an
honouring event among
the public.
 The theme for this
year(2023) is "Celebrating Resilience and Healing Hands."
 In 1882, Bidhan Chandra Roy was born in Patna Bengal Presidency, British
India, on July 1st.
 In 1901, Roy enrolled at the Calcutta Medical College and, upon graduating, left for
England for further studies.
 In 1925, Dr Roy became the Chief Minister of West Bengal following India’s newly
gained Independence.
 In 1926, Dr Roy established The Chittaranjan Seva Sadan, a special hospital for women
and children.
 In 1961, Dr Roy was awarded the Bharat Ratna, the highest civilian award of the
Republic of India, a year before his death.
 In 1991, The first-ever Doctor’s Day is celebrated in India in honour of Dr
Bidhan Chandra Roy.

Daily CA One-Liner: July 1

 ICICI Lombard General Insurance and ICICI Prudential Life Insurance have
jointly launched a combi product, ‘iShield’, which will provide customers with both
health and life insurance under the “use and file” procedure.
 Union Minister of Mines, Pralhad Joshi, has unveiled India's first-ever report on
Critical Minerals for India.
 The government has also decided to bring the National Research Foundation
(NRF) Bill, 2023 to strengthen the research ecosystem in the country.
 Commerce and Industry Minister Piyush Goyal has asked the Indian banks to
ensure enhanced and affordable credit to MSMEs to achieve the target of one
trillion dollar merchandise exports by 2030.
 A seven-km undersea tunnel will be constructed for the bullet train project to
save mangrove forests in Maharashtra.
 Pension Fund Regulatory and Development Authority (PFRDA) intends to
introduce a plan during the second half of this fiscal, to allow the subscribers of
the National Pension Scheme (NPS) to withdraw 60% of the accumulated
corpus systematically instead of the current system of a one-time withdrawal.

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 Daily Current Affairs
1st July 2023

 India and the UAE have set a target of doubling non-oil bilateral trade to $100
billion by 2030 from $48 billion at present.
 The new national estimates for non-communicable diseases (NCDs)- “Metabolic
non-communicable health report of India-the ICMR-INDIAB National Cross-
sectional Study” was recently released.
 Vistara, India's leading full-service carrier, has expanded its codeshare
partnership with Lufthansa, one of Europe's premier airlines, enabling
enhanced connectivity to Vistara customers while travelling across Europe.
 United Nations Secretary-General Antonio Guterres has removed India from his
annual report on the impact of armed conflict on children, citing “measures
taken by the government to better protect” them.
 The Greater Chennai City Police (GCP) launched India’s first ‘Police Drone Unit’
for aerial surveillance over vast areas and quick detection of criminal activities.
 Andhra Pradesh (AP) Chief Minister (CM) Y S Jagan Mohan Reddy launched the
'Jagananna Amma Vodi' scheme for the fourth year, under which financial
assistance of Rs 6,393 crore will be deposited into the bank accounts of 43 lakh
beneficiaries, at Kurupam in Parvathipuram Manyam district, AP.
 A team of the Geological Survey of India (GSI) discovered India’s biggest ‘Natural
Arch’ during their survey of coal in Kenduadihi block in Odisha’s Sundargarh
forest division, a Geo Heritage Site.
 The Tamil Nadu (TN) government has appointed senior bureaucrat Shiv Das
Meena as the next Chief Secretary of TN.
 German luxury car brand Audi has appointed Gernot Dollner as new Chief
Executive Officer (CEO) of the Board of Management, effective September 1, 2023.
 Housing Development Finance Corporation Limited Chairman Deepak Parekh
stated that HDFC Bank, the largest private sector bank in India, and housing finance
company HDFC Ltd are set to complete their merger by July 1,2023.
 Youth Affairs and Sports Ministry has approved wrestlers Vinesh Phogat and
Bajrang Punia's proposal for training in Kyrgyzstan and Hungary under Target
Olympic Podium Scheme (TOPS).
 India beat Iran 42-32 in the final of the Asian Kabaddi Championship 2023 in
Busan, South Korea.
 On July 1st National Doctor’s Day 2023 is observed nationally all over India as an
honouring event among the public.

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