Daily Current Affairs- 28 May

Today's Current Affairs 28th May 2023

NATIONAL

PM Narendra Modi inaugurates new Parliament building

Prime Minister Narendra Modi inaugurated the new Parliament building, seeking blessings from high priests of various 'adheenams' in Tamil Nadu with the holy sceptre in hand. He also installed the historic Sengol in the Lok Sabha chamber. Dressed in a traditional attire, Mr. Modi walked into the Parliament premises from its Gate No. 1 and was welcomed by Lok Sabha Speaker Om Birla.

About: The New Parliament building - The new Parliament building, with a seating capacity of 1,272, is not only more spacious than the existing complex but is also equipped with state-of-the-art measures and cutting-edge technology.

Some of the high-tech features in the new Parliament building include multimedia display units in front of each MP’s seat, biometrics for ease of voting, a digital language translation system and programmable microphone.

About: The Sengol - Made of silver and gold, the five-feet long sceptre was handed over by Lord Mountbatten to Pandit Jawaharlal Nehru on August 14, 1947, as a symbol of the transfer of power, according to the government. The Sengol, a symbol of governance in Tamil kingdoms of yore, was then kept for display in The Allahabad Museum.

Indian Navy and ISRO Release Gaganyaan Recovery Training Plan

The Indian Navy and the Indian Space Research Organisation (ISRO) have released the Gaganyaan Recovery Training Plan at INS Garuda in Kochi, The document outlines the training plan for recovery of the crew module of the Gaganyaan mission.

The training document was jointly released by Vice Admiral Atul Anand, Director General of Naval Operations; Unnikrishnan Nair, Director, Vikram Sarabhai Space Centre, (VSSC) and Umamaheshwaran R, Director, Human Space Flight Centre of ISRO, The document defines overall requirements with respect to training of various teams participating in recovery operations including divers, MARCOs (marine commandos), medical specialists, communicators, technicians and naval aviators,

The recovery training is planned in incremental phases starting from unmanned recovery to manned recovery training in harbour and open sea conditions. The recovery operations are being led by the Indian Navy in co-ordination with other government agencies.

OBITURY

Writer and literary critic G H Nayak passes away

Writer and literary critic Govindaray H Nayak (88), popularly known as G H Nayak, passed away due to heart attack in Mysuru, He is survived by his wife Meera and daughter Keerthi.

A native of Surve village near Ankola, Uttara Kannada district of coastal Karnataka, Nayak served the University of Mysore as a Kannada professor. A writer and critic, Nayak won the Central Sahitya Akademi Award for his work Sanskrit Chintana in 2014,

 He is also a recipient of the Karnataka Sahitya Academy Award and Pampa Award. After his high school diploma from Peoples Multi-purpose High School, Ankola, in 1951, he shifted to Mysuru and did MA in Kannada from the University of Mysore.

Micky Jagtiani, founder of retail giant Landmark Group, passes away at 70

Dubai-based billionaire businessman Micky Jagtiani, who founded retail giant Landmark Group, has passed away, The chairman and owner of the group was 70 years old. With a net worth of $5.2 billion, he was ranked 511 on the Forbes' 37th annual world billionaires list earlier this year.

Jagtiani was originally from India and started the business in 1973 with one store in Bahrain. He then expanded the business across the west Asia, Africa and India. According to Forbes, Jagtiani drove a taxi in London before moving to Bahrain and starting a baby products shop.

Currently, his wife Renuka runs the Landmark Group as chairman and chief executive officer (CEO). His three children are directors in the group, overseeing different aspects of the business. The Landmark Group also entered India in 1999 and has a range of retail brands like Lifestyle and Max for clothes and Home Center for furniture and home furnishings

APPOINTMENS & RESIGNATIONS

Mukesh Ambani appointed as member of Advisory committee of COP28

Reliance Industries' Chairman and Managing Director Mukesh Ambani has been appointed as a member of the Advisory Committee to the President of the 28th Session of the Conference of the Parties (COP28) to the United Nations Framework Convention on Climate Change (UNFCCC).

Mukesh Ambani is the only Indian, other than Sunita Narain, Director General, Centre for Science and Environment, on the Advisory Committee to the President of COP28. Reliance chief Ambani joined other important global leaders on the COP28 Advisory Council such as Larry Fink, Chairman and CEO of BlackRock, Olafur Grimsson, Chairman of Arctic Circle (Former President of Iceland), Laurent Fabius, President of COP21 / Paris Agreement, Former Prime Minister of France, Francesco La Camera, Director General, International Renewable Energy Agency (IRENA), Bob Dudley, Chair of the Oil and Gas Climate Initiative (OGCI), former CEO of BP.

The COP28 UAE Advisory Committee brings together the climate expertise of thought leaders from countries across six continents.

UAE will host the 28th session of the Conference of Parties (COP 28) to the UNFCCC (United Nations Framework Convention on Climate Change) from November 30, 2023 to December 12, 2023. It is set to be held at Dubai Expo City.

About COP - COP or the Conference of Parties is the apex decision-making body of UNFCCC. UNFCCC was instituted to deal with the growing threat of climate change. It was signed in 1992 at the United Nations Conference on Environment and Development also known as Rio Summit or Earth Summit. The Secretariat of UNFCCC is located in Bonn, Germany.

Karnataka Bank appoints Srikrishnan Hari Hara Sarma as MD & CEO

The Mangaluru-headquartered private sector Karnataka Bank has appointed Srikrishnan Harihara Sarma as the new managing director and chief executive officer of the bank. The appointment, effective from the date of his assuming charge, will last for a period of three years,

Sarma has four decades of experience in commercial, retail and transactional banking, technology and payments. He has previously held key positions at HDFC Bank Ltd., Yes Bank Ltd. and Jio Payments Bank Ltd.

With this appointment, there would be 11 directors on the board of the bank, Of which, 8 are independent directors constituting 73 per cent of the board, including one woman independent director,

Justice Ramesh Devkinandan Dhanuka sworn in as Chief Justice of Bombay HC

Justice Ramesh Devkinandan Dhanuka sworn in as the Chief Justice of the Bombay High Court. Maharashtra Governor Ramesh Bais administered the oath of office to Justice Dhanuka at a brief swearing-in ceremony held at Raj Bhavan,

Leader of the Opposition in the Legislative Council Ambadas Danve, Guardian Minister of Mumbai Deepak Kesarkar, family members of Justice Dhanuka, judges of the Bombay High Court, Chairman of Maharashtra State Human Rights Commission Justice (retd) K K Tated, Advocate General Birendra Saraf, Director General of Police Rajnish Seth and senior government officers were present.

About: Justice Ramesh Devkinandan Dhanuka - Born on the 31st of May 1961, Justice Ramesh Dhanuka did his schooling in Mumbai. He acquired a Bachelor’s degree in Commerce and Law from the University of Mumbai. Started practice of Law at Bombay High Court in 1985 in the chamber of Shri. Justice D. R. Dhanuka (Retd.), till his elevation as High Court Judge of Bombay in 1990.  He was on the Senior Counsel Panel of the Municipal Corporation of Greater Mumbai for the last several years and has appeared in a large number of matters representing the Municipal Corporation in Bombay High Court.

BANKING AND ECONOMY

RBI imposes Rs 85 lakh penalty on Central Bank of India for non-compliance

The Reserve Bank of India - RBI has imposed a penalty of Rs 84.50 lakh on Central Bank of India (the bank) for non-compliance with certain provisions of norms related to frauds classification and reporting.

The Reserve Bank had conducted statutory inspection for supervisory evaluation of the bank with reference to its financial position as on March 31, 2021,

Examination of the reports revealed that the public sector lender had failed to report as fraud to RBI certain accounts within seven days of decision of Joint Lenders' Forum (JLF) to declare the accounts as fraud. It had recovered SMS alert charges from its customers on flat basis rather than on actual usage basis.

About: Central Bank of India - Central Bank of India is an Indian public sector bank based in Mumbai. Despite its name, it is not the central bank of India; The Indian central bank is the Reserve Bank of India.