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Daily Current Affairs 9th July 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 9th July 2023. It includes all Major National, International, Business and Sports related current affairs of 9th 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 9th July 2023 Current affairs test.


National & International Assignments

1. Appointment of the New Chairperson for IFSCA

  • K. Rajaraman, from the 1989 IAS batch and presently the telecom secretary, is appointed by the government to be the next Chairperson of the International Financial Services Centres Authority (IFSCA).
  • His term will span for three years or till he turns 65. He succeeds Injeti Srinivas, the initial chairperson since 2020.
  • IFSCA was inaugurated in GIFT City, Gandhinagar in April 2020, in line with the International Financial Services Centres Authority Act of 2019.

National Developments

2. Union Cabinet Approves Data Protection Bill

  • The proposed Data Protection Bill 2022 has received approval from the Union Cabinet and is expected to be tabled in the forthcoming Monsoon Parliament session.
  • Upon enactment, this bill, aimed at safeguarding individual data, will be the paramount framework governing data in India. Key provisions entail obligating firms to refrain from retaining personal data or to anonymize specific data sets.

3. Expansion of GSTN’s Geographical Capacities

  • The GST Network (GSTN) has launched geocoding across all states and Union Territories, translating location details to geographical coordinates.
  • The aim is to enhance the precision of address data within the GSTN records, leading to easier address verification. This feature is now available to a range of taxpayers, including normal, composition, SEZ entities, and more.

4. GSTN Integration with the Anti-Money Laundering Act

  • The Central Government has announced the inclusion of the Goods & Services Tax Network (GSTN) under the Prevention of Money Laundering Act (PMLA).
  • As a result, GSTN data can be shared in accordance with the PMLA Act, allowing stricter action against tax evasion and misleading documentation. This encompasses offenses like fabricated input tax credits and invoices under GST.

International Highlights

5. Introduction of China’s Native Operating System

  • China has showcased OpenKylin, its first domestically-engineered open-source computer OS, to counter prominent operating systems such as Windows and MacOS.
  • This step is geared towards reducing foreign dependency amidst escalating tensions with the U.S. Already incorporated into certain government systems, OpenKylin is based on the universally acknowledged open-source Linux OS.

Banking & Finance News

6. Formation of IBA’s Task Force for ARCs

  • The Indian Banks’ Association has set up a five-member team to implement the recommendations of the RBI committee related to Asset Reconstruction Companies (ARCs).
  • The main objective is to update the templates associated with distressed asset purchases by ARCs from lenders, reflecting the ongoing evolutions in the ARC industry.

State Developments

7. Launch of the ‘Ama Pokhari’ Scheme in Odisha

  • Odisha’s Chief Minister, Naveen Patnaik, has rolled out the ‘Ama Pokhari’ initiative, targeting the rejuvenation of roughly 2,000 significant water bodies across 115 urban local bodies.
  • With an investment of about 120 crore rupees, the program will utilize eco-friendly methods to enhance the surroundings. Additionally, these spaces will undergo transformation for public leisure and aesthetic upliftment.

8. Mangrove Plantation Collaborations in Gujarat

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  • Gujarat state has inked agreements with six private sectors for mangrove afforestation under the MISHTI initiative. The project envisions the plantation of mangroves over a stretch of 3000 hectares, fortifying coastal ecosystems.
  • Union Environment Minister Bhupender Yadav presided over the MOU signings, supporting the preservation and rejuvenation of mangroves, furthering India’s carbon capture objectives.

Science & Technology Insights

9. NSIL Partners with Voyager Space

  • Voyager Space and NewSpace India Limited (NSIL) have formalized a Memorandum of Understanding, seeking potential collaboration in spacecraft launches on NSIL’s SSLV and PSLV.
  • An affiliate of the Indian Space Research Organization (ISRO), the partnership will also explore the application of NSIL space-endorsed components in spacecraft endeavors.

Sports Update

10. Results of the British Grand Prix 2023

  • At England’s Silverstone Circuit, Max Verstappen from the Red Bull team clinched the F1 2023 British Grand Prix title. Lando Norris of McLaren finished second, with Mercedes’ Lewis Hamilton taking the third position.
  • Verstappen has dominated multiple 2023 F1 Grand Prix races, claiming victories in Canada, Spain, Monaco, and Bahrain, whereas Sergio Pérez seized the championship in Saudi Arabia.
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