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Daily Current Affairs 11th July 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 11th July 2023. It includes all Major National, International, Business and Sports related current affairs of 11th July 2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 11th July 2023 Current affairs test.


Awards & Recognitions

1. Prime Minister Narendra Modi Honored with Lokmanya Tilak Award 2023

  • The Lokmanya Tilak National Award 2023 is set to be presented to Prime Minister Narendra Modi by the Tilak Smarak Mandir Trust (Hind Swaraj Sangh) in Pune on August 1, 2023.
  • PM Modi’s leadership, which has steered India’s progressive path, is being acknowledged with this accolade.
  • Notable personalities like Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh have been previous recipients.

2. J&K Bank Bags Recognition for Outstanding CASA Performance

  • Jammu & Kashmir Bank was honored as the 1st Runner up in the Small Bank Category for Best Performance in CASAIndia at the ICC Emerging Asia Banking Conclave & Awards 2022.
  • Banks from countries like India, Nepal, Bhutan, Bangladesh, Sri Lanka, and Myanmar participated in this event.
  • The ceremony was orchestrated by the Indian Chamber of Commerce and took place in Goa.

Economic Insights

3. Goldman Sachs’s Forecast: India as the World’s 2nd Largest Economy by 2075

  • Goldman Sachs projects India’s ascent to become the world’s second-largest economy by 2075.
  • With its 1.4 billion population, India is predicted to outstrip economies like Japan, Germany, and the US.
  • The projected GDP for India stands at a staggering 52.5 trillion dollars, surpassing the GDP predictions for the US.
  • The country’s vast workforce is seen as a pivotal force driving this impressive economic growth.

4. L&T Collaborates with Spain’s Navantia for Submarine Project

  • L&T and Spain’s Navantia have formed a partnership, jointly bidding for the Indian Navy’s prestigious P75 (India) submarine project.
  • The initiative is expected to entail an investment of about €4.8 billion.
  • Navantia will take charge of designing the P75(I) submarines, drawing inspiration from its S80 submarine class.
  • The maiden S80 class submarine was launched in 2021 and is currently undergoing marine tests before its induction into the Spanish Navy.

5. India Outshines China in Emerging Market Appeal for Investments

  • Invesco Global Sovereign Asset Management’s report indicates India’s emergence as the top attractive emerging market for sovereign wealth fund investments, surpassing China.
  • Factors such as demographic growth, stable political conditions, and a forward-looking regulatory landscape have been credited for this elevation.

Significant Announcements

6. World Population Day 2023 Observance on July 11

  • World Population Day, observed on July 11, brings attention to pressing population issues, primarily concerning population control.
  • The 2023 theme is centered around “Empowering women and girls through gender equality: Harnessing infinite global potential”.
  • The United Nations Development Programme (UNDP) initiated this day in 1989, marking the moment when the world population reached five billion on July 11, 1987.

7. Gujarat Launches ‘Antyodaya Shramik Suraksha Yojana’

  • Chief Minister of Gujarat, Bhupendra Patel, introduced the Antyodaya Shram Suraksha Accident Insurance scheme in Kheda.
  • The scheme targets those registered on the eShram platform from Nadiad.
  • Jointly orchestrated by the Indian Postal Department, IPPB, and the Ministry of Labour and Employment, the initiative is designed to offer insurance coverage for workers in cases of death or disability.

8. Sheikh Talal Ascends to OCA’s Presidency

  • Sheikh Talal Fahad Al Ahmad Al Sabah of Kuwait has been elected as the new president of the Olympic Council of Asia (OCA).
  • He succeeds his elder brother, Sheikh Ahmad AlFahad AlSabah, who led OCA for thirty years till 2021.
  • The inception of OCA goes back to 1982, founded by his father Fahad AlAhmed AlJaber AlSabah, who served as its presidentuntil 1990.

9. Bajaj Allianz Life Insurance Clinches Insurer Innovation Award 2023

  • The 8th World Digital Insurance Awards, organized by TDI – The Digital Insurer, honored Bajaj Allianz Life Insurance with the Insurer Innovation Award 2023 for the APAC region.
  • The company’s pioneering WhatsApp Conversational Platform, which has transformed digital customer interactions, secured them this recognition.

10. CarTrade Tech to Acquire OLX India’s Automotive Division

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  • Mumbai-based CarTrade Tech Ltd has agreed to purchase OLX India’s car commerce division for a sum of Rs 537 crore.
  • The transaction will see a complete transfer of ownership of Sobek Auto India Pvt Ltd, representing OLX India’s car segment, through an all-cash deal.
  • The finalization of this acquisition is expected within the next month.
  • Sobek’s main operation involves running a digital platform dedicated to car sales.

11. NLU Delhi Rolls Out ‘Eklavya’ Research Affiliate Program

  • The National Law University (NLU) in Delhi has introduced ‘Eklavya’, a distinct ‘Research Affiliate’ program for individuals who don’t possess traditional law degrees.
  • This program highlights NLU’s efforts to nurture external collaborations and leverage varied experiences to enhance legal education.
  • To be eligible, candidates must have at least three years of relevant experience in areas closely related to legal matters.

12. Indo-US Jointly Launch ‘Operation Broader Sword’

  • The USA, in collaboration with India, initiated ‘Operation Broader Sword’ to curb the flow of illegal drug consignments via the International Mail System.
  • The operation’s focus was on illegal and potentially hazardous unauthorized prescription drugs, medical device combinations, and precursor chemicals for synthetic drugs being shipped through International Mail Facilities.
  • More than 500 shipments of illicit and unauthorized drugs, aimed at US recipients, were intercepted and halted.
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