Current Affairs – June 27 2023
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Current Affairs – June 27 2023
1. India now has the world’s 2nd largest road network after US: Govt
India now has the world’s second-largest road network after an increase of 59% in the last nine years, Road Transport Minister Nitin Gadkari has said.
India’s road network now stands at 1,45,240 km as compared to 91,287 km in 2013-14, Gadkari said. The US currently has the world’s largest road network, he added.
2. CCI approves acquisition of TCNS Clothing Co. Limited by Aditya Birla Fashion and Retail Limited
The Competition Commission of India (CCI) approves acquisition of TCNS Clothing Co. Limited by Aditya Birla Fashion and Retail Limited.
The proposed combination involves acquisition of 51% of the Expanded Share Capital of the Target by the Acquirer TCNS Clothing Co. Limited (Target) by the Aditya Birla Fashion and Retail Limited (Acquirer).
The Acquirer is a listed company and is part of the Aditya Birla conglomerate.
It is engaged in retailing of branded products within the apparel, footwear and accessories segment, through its retail stores, online retail platforms and e-commerce marketplaces.
The Target is a listed company engaged in the business of manufacturing, distribution and sale of women’s apparel, jewellery, footwear, and beauty products, currently undertaken under the brands i.e., W, Aurelia, Wishful, Elleven and Folk Song.
The Target is also engaged in the business of wholesale cash and carry trading (including sale through franchisee outlets) of products in the aforementioned categories.
3. A book titled ‘The Yoga Sutra for Children’ by Roopa Pai
After her award-winning bestselling book ‘The Gita for Children’, author Roopa Pai’s upcoming children’s book will unravel the secrets of Patanjali’s 2,000-year-old text on Yoga.
‘The Yoga Sutras for Children’, published by Hachette India, aims to connect and relate the practice of Yoga to children’s everyday lives and helps them use their mind power to bring out the best in themselves.
4. Indian Economic Trade Organization appoints Nutan Roongta as Director of USA East Coast
The Indian Economic Trade Organization (IETO) has recently announced the appointment of Nutan Roongta as the Director of the USA East Coast Chapter.
This significant development highlights IETO’s commitment to expanding its presence and promoting bilateral trade and economic cooperation between India and the United States.
As the Director of the USA East Coast Chapter, Nutan Roongta will play a pivotal role in leading and coordinating the organization’s activities across this vital region.
With her extensive experience and expertise in international trade and business development, she is well-equipped to spearhead IETO’s efforts to enhance commercial ties between the two nations.
5. Kyriakos Mitsotakis sworn in as Greek Prime Minister
Kyriakos Mitsotakis, leader of the centre-right New Democracy party, has been sworn in as the prime minister of Greece for a second term following a resounding election victory.
Mitsotakis has outlined his plans to rebuild Greece’s credit rating, create jobs, raise wages, and boost state revenues.
His party secured 158 seats in the 300-seat parliament, surpassing the leftist Syriza party, which governed Greece from2015-2019 during the country’s economic crisis.
6. Times Asia Rankings 2023: IISc Tops Among Indian Universities
In the recently released Asia University Rankings 2023 by Times Higher Education (THE), the Indian Institute of Science (IISc) has emerged as the leading university in India.
The rankings highlight the performance and reputation of universities across Asia.
Key Points About the News
- IISc Secures Top Position: The Indian Institute of Science (IISc) has claimed the highest position among Indian universities, securing the 48th spot in the Asia University Rankings 2023.
- Indian Universities in Top 200: India has made a notable presence in the rankings, with a total of 18 universities featured among the top 200 in Asia. These institutions showcase the growing prominence of Indian higher education on the global stage.
- Indian Rankings in Top 100: Among the top 100 universities in Asia, India is represented by four institutions. Alongside IISc, JSS Academy of Higher Education and Research stands at 68th, Shoolini University of Biotechnology and Management Sciences at 77th, and Mahatma Gandhi University shares the 95th spot with Xi’an Jiaotong University from China.
7. Mastercard CEO Michael Miebach Joins USISPF Board Of Directors
Mastercard CEO Michael Miebach has joined the board of directors of the US-India Strategic and Partnership Forum (USISPF).
Observing that USISPF is a critical forum for business and government leaders to come together and drive the next phase of growth in the US-India partnership, Miebach said he believes the relationship between the two countries will define the future of the global economy and shape their ability to tackle the most pressing global challenges together.
This strategic alliance aims to foster collaborations in various sectors and promote the growth and development of both economies.
8. Centre Approves Rs. 56,415 Crore to 16 States under ‘Special Assistance to States for Capital Investment 2023-24’ Scheme
The Department of Expenditure, Ministry of Finance, Government of India, has granted approval for capital investment proposals totaling Rs. 56,415 crore to 16 States in the current financial year.
This significant allocation falls under the ‘Special Assistance to States for Capital Investment 2023-24’ scheme, aiming to provide timely impetus to capital spending by States.
The approved funds will support a range of projects in sectors such as health, education, irrigation, water supply, power, roads, bridges, and railways.
9. World MSME Day 2023 is observed on June 27
International Micro, Small, and Medium Enterprises (MSME) Day or World MSME Day is observed every year on 27th June all over the world to highlight the significance of MSMEs and how they play a crucial role in being the backbone of the country’s economy.
World MSME Day 2023- Theme
The theme MSME Day 2023 in India is “Future-ready MSMEs for India@100.”
10. DBS Bank India appoints Rajat Verma as Managing Director
DBS Bank India has appointed Rajat Verma as managing director and head of institutional banking in India. The current head of institutional banking Niraj Mittal has recently moved to a new role as country head of DBS Bank in Australia.
The bank said Mittal will focus on growing the DBS franchise there, including improving linkages with South-East Asia and South Asia.
Verma was, till recently, with HSBC India where he was managing director and country head of commercial banking in India.