Rathendra Raman, who belongs to the 1995 batch of the Indian Railway Traffic Service (IRTS), has taken charge as the new chairman of the Kolkata Port, which has been renamed as Syama Prasad Mookerjee Port (SMP). Prior to his new role, he served as the Chief Freight Traffic Manager (CFTM) in the South Eastern Railway. In his new position, Raman held a meeting with senior officials from both the Kolkata Dock System and Haldia Dock Complex to discuss matters related to the port.
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6. SN Subrahmanyan new CMD of L&T, AM Naik steps down
Larsen & Toubro (L&T), an Indian multinational engineering company, announced that it has appointed S N Subrahmanyan as its new Chairman and Managing Director (CMD), effective October 1, 2023. Subrahmanyan is currently the CEO and MD of L&T. A M Naik, the company’s current Non-Executive Chairman, has decided to step down from his position on September 30, 2023. Naik will be given the role of Chairman Emeritus.
Important takeaways for all competitive exams:
- Larsen & Toubro (L&T) CEO: S N Subrahmanyan (Jul 2017–);
- Larsen & Toubro (L&T) Headquarters: Mumbai;
- Larsen & Toubro (L&T) Founded: 7 February 1946, Mumbai.
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Banking News
7. AIBEA Introduces “Bank Clinic” to Assist Bank Customers with Grievance Redressal
The All India Bank Employees’ Association (AIBEA) has announced plans to establish an online “Bank Clinic” to assist retail bank customers with grievance redressal. AIBEA General Secretary CH Venkatachalam stated that once a customer files a complaint with the Bank Clinic, AIBEA’s team will work with the bank to address the issue.
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8. AU Small Finance Bank introduces RuPay credit card for self-employed Customers
AU Small Finance Bank has teamed up with RuPay to introduce the Business Cashback RuPay credit card, a novel solution designed to fulfill the financial requirements of self-employed clients. The latest product is intended to provide a wide range of advantages to small enterprises. The CEO of National Payments Corporation of India (NPCI), Dilip Asbe, and the MD & CEO of AU Small Finance Bank, Sanjay Agarwal, were present at the card’s launch.
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Economy News
9. Union Finance Minister chairs the 27th Meeting of Financial Stability and Development Council (FSDC)
Union Finance Minister Smt. Nirmala Sitharaman chaired the 27th meeting of the Financial Stability and Development Council (FSDC) in New Delhi. This was the first meeting held after the announcement of the Budget 2023-24. The council discussed the policy and legislative reform measures needed to develop the financial sector further and increase financial access for the people.
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Business News
10. Mastercard Takes Over as ICC’s Global Sponsor, Replacing BharatPe
Mastercard has reportedly taken over from BharatPe as the global sponsor of the International Cricket Council (ICC), a multinational financial services corporation based in the United States. Over the past year, Mastercard has been actively seeking to secure lucrative sponsorship deals and has already secured the title sponsorship rights for the Board of Control for Cricket in India (BCCI) international and domestic home fixtures from Paytm.
Important Takeaways For All Competitive Exams
- Chief Executive Officer (CEO) of Mastercard: Michael Miebach;
- Group President and Chief Executive Officer (CEO) of BharatPe: Suhail Sameer;
- Headquarters of Mastercard: New York, United States;
- Headquarters of BharatPe: Gurugram, Haryana, India.
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11. CM Yogi Adityanath honoured Bharat Ratna Dr Ambedkar Award
Former President of India, Ram Nath Kovind, presented the Bharat Ratna Dr. Ambedkar Award to Chief Minister Yogi Adityanath for his efforts in creating a fear-free Uttar Pradesh. The award ceremony took place at the Shri Shanmukhananda Auditorium in Mumbai, where Dr. Lalji Prasad Nirmal, a member of the UP legislative council, received the award on behalf of the Chief Minister. The event was organized by the Buddhanjali Research Foundation and was attended by Ramnath Kovind as the chief guest. This was the 13th edition of the award ceremony.
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12. India and Thailand Conduct 35th Indo-Thai Coordinated Patrol(CORPAT)
The Indian Navy and the Royal Thai Navy conducted the 35th edition of the India-Thailand Coordinated Patrol (Indo-Thai CORPAT) from May 3 to May 10, 2023. The exercise was aimed at reinforcing maritime linkages between the two countries and ensuring the safety and security of the Indian Ocean. The Indo-Thai CORPAT has been conducted bi-annually since 2005 along the International Maritime Boundary Line (IMBL) to enhance understanding and interoperability between the two navies.
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13. Google’s Bard chatbot to launch globally, including India
Google has announced that it will be rolling out its generative AI chatbot Bard in over 180 countries, including India. Bard is a large language model (LLM) that can generate text, translate languages, write different kinds of creative content, and answer your questions in an informative way. In 2022, Google announced that Bard would be available in the United States and the United Kingdom. It is likely that the company will continue to roll out Bard to other English-speaking countries first.
Important takeaways for all competitive exams:
- Google Founders: Larry Page, Sergey Brin;
- Google Parent organization: Alphabet Inc.;
- Google Headquarters: Mountain View, California, United States;
- Google CEO: Sundar Pichai (2 Oct 2015–).
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15. “The Indian Metropolis: Deconstructing India’s Urban Spaces” book by Feroze Varun Gandhi
The Indian Metropolis: Deconstructing India’s Urban Spaces is a book by Feroze Varun Gandhi, published in 2023. The book examines the challenges facing India’s urban spaces, including poverty, inequality, crime, and environmental degradation. Gandhi argues that India’s cities need to be transformed in order to be more inclusive and sustainable.
