Daily Current Affairs for 20 May 2023
PM Modi inaugurates International Museum Expo 2023
- During the inauguration of theInternational Museum Expo 2023at Pragati Maidan, Prime Minister Narendra Modi emphasized his government’s commitment to safeguarding India’s heritage.
- However, he regretted that insufficient efforts were taken towards this cause following Independence
Institute of Chartered Accountants of India and The Chartered Accountants of the Maldives Sign Memorandum of Understanding
- The Union Cabinet, under the leadership of Prime Minister Shri Narendra Modi, has approved the signing of a Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI)and The Chartered Accountants of the Maldives (CA Maldives).
- This strategic partnership aims to foster cooperation in the field of accounting, promoting professional development, intellectual growth, and mutual advancement for the accounting professions in both India and the Maldives
South Africa to Produce CAB-LA
- South Africa is set to embark on a groundbreaking initiative that will address the accessibility and affordability of HIV-prevention medication.
- The country will start producing a generic version of the highly effective HIV-prevention drug, CAB-LA (cabotegravir).
G-7 Hiroshima Summit
- The G7 summit brings together leaders from seven of the world’s most powerful democracies to discuss pressing global issues.
- As the summit rotates among its member countries, this year’s meeting is being hosted by Japan.
- The Group of Seven, composed of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, focuses on a wide range of topics, including economic policy, security, climate change, energy, and gender equality
Bhopal becomes 1st city to measure Sustainable Development Goals progress
- Bhopal, the capital of Madhya Pradesh,has become the first city in India to measure its progress towards achieving the Sustainable Development Goals (SDGs).
- The city has adopted a Voluntary Local Review (VLR) process, which is a tool that helps cities to assess their progress on the SDGs and identify areas where they need to improve
Siddaramaiah to be the next chief minister in Karnataka CM Race
- According to reports, Siddaramaiahis set to become the next chief minister of Karnataka, with DK Shivakumaras his deputy.
- The decision was reached by the Congress party, with both leaders agreeing to a rotational arrangement.
- Siddaramaiah will serve as the chief minister for a period of 2.5 years, after which Shivakumar will take over the position
SEBI Framework for Unexplained Suspicious Trading Pattern
- The Securities and Exchange Board of India (Sebi) has proposed a robust regulatory framework to address the issue of suspicious trading patterns in the financial markets.
- By prohibiting individuals from engaging in suspicious trading activities related to material non-public information, Sebi seeks to ensure transparency and integrity in the securities market
Advance and EPCG Authorisation Scheme
- The Advance Authorization Scheme (AAS) or Advance License Scheme, introduced by the Government of India under the Foreign Trade Policy 2015-2020, has recently gained attention in the news.
- This scheme aims to promote the competitiveness of Indian products in the global market by providing duty exemptions on imported raw materials required for the manufacture of export products.
- By eliminating import duties on these materials, the cost of the final export products is reduced, making them more competitive in terms of pricing
Robert E Lucas
- Robert E Lucas, an esteemed economist and Nobel laureate, made significant contributions to the field of macroeconomics.
- His work challenged the prevailing dominance of Keynesian economics and introduced the concept of rational expectations.
- He passed away recently at the age of 85
South Asian Youth TT Championship 2023: India bags 16 gold medals
- The South Asian Youth Table Tennis Championship 2023, a three-day international event, came to a close on May 17 in Itanagar, Arunachal Pradesh.
- Over 100 athletes from six countries, including Bhutan, Bangladesh, India, Maldives, Sri Lanka, and Nepal, participated in the championship.
- General KT Parnaik (Retd.), the Governor of Arunachal Pradesh, graced the closing ceremony as the Chief Guest at the Dorjee Khandu Indoor Stadium in Itanagar.
- On the final day, the host nation India achieved a remarkable feat by winning all the available gold medals at the tournament
World Bee Day 2023 observed on 20th May
- World Bee Dayis an annual event held on May 20thto increase understanding and recognition of the vital role bees and other pollinators play in our ecosystem.
- This observance was established by the United Nations in 2017 with the purpose of emphasizing the importance of bees in sustaining both ecosystems and food production.
- The celebration of World Bee Day seeks to encourage efforts that safeguard bees and their habitats, while also emphasizing the significance of pollinators in preserving biodiversity and ensuring worldwide food security