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Current Affairs (15th May, 2023)

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KSHEC Launched the Kerala Institutional Ranking Framework (KIRF) 

  • On May 3, 2023, the Kerala State Higher Education Council (KSHEC) created history by unveiling the Kerala Institutional Ranking Framework (KIRF), making Kerala the first state in India to introduce its own ranking system for higher education institutions.  
  • Modeled on the National Institute of Ranking Framework (NIRF), KIRF aims to assess and rank higher education institutions in Kerala.  
  • Nonetheless, the government of Kerala recognized the necessity of devising its own ranking system that would align with the state's socio-cultural heritage and principles. Consequently, the Kerala Institutional Ranking Framework (KIRF) was created. 

World Migratory Bird Day 2023  

  • The campaign of World Migratory Bird Day is designed to raise awareness about the preservation of migratory birds and their habitats.  
  • The objective of this initiative is to bring attention to the challenges that migratory birds encounter, their ecological significance, and the necessity for international collaboration to safeguard their existence. 
  • The theme of World Migratory Bird Day 2023 is “water and its importance for migratory birds”. 

RBI Announced a ‘100 Days 100 Pays’ Campaign for Banks 

  • To address the issue of unclaimed deposits in the banking system and restore them to their rightful owners, the Reserve Bank of India (RBI) has introduced a 100-day campaign to locate and resolve such deposits in every district of the country.  
  • Starting from June 1, 2023, banks will be tasked to trace and settle their 100 highest unclaimed deposits in each district.  
  • The primary objective of this initiative is to minimize the volume of unclaimed deposits in the banking system.  

Linda Yaccarino Took Over as CEO of Twitter 

  • Linda Yaccarino has been appointed as the new CEO of Twitter.  
    On 12 May, after Elon Musk, who became Twitter's CEO following his $44 billion acquisition in October last year, confirmed her appointment.  

London Stock Exchange Group to Set Up a Technology Centre of Excellence in Hyderabad 

  • The Minister for Information Technology and Industries in Telangana, KT Rama Rao, declared that the London Stock Exchange Group PLC (LSEG) will establish a Technology Centre of Excellence in Hyderabad, leading to the creation of roughly 1,000 job opportunities.  
  • The announcement came after the minister's meeting with Anthony McCarthy, Group CIO, LSEG during his official tour of the United Kingdom.  

The Sagar Shreshtha Samman Award 2023 has been awarded to Cochin Port 

  • The Cochin Port Authority (CPA) was honoured with the prestigious Sagar Shreshtha Sammaan by the Ministry of Ports, Shipping, and Waterways for achieving the best turnaround time in the non-container category during the period of 2022-23. 
  • On Wednesday, May 10th, 2023, Minister for Ports and Shipping, Sarbananda Sonowal, presented the award to M. Beena, Chairperson of CPA, in New Delhi. 
  • The award was granted to acknowledge the exceptional performance of Cochin Port in efficiently handling dry bulk and liquid bulk cargo vessels. The port achieved a remarkable turnaround time of 48 hours for vessels with an average parcel size of 43,800 MT, reflecting its commitment to operational excellence.  

The 5th Edition of the Global Ayurveda Festival (GAF-2023)   

  • From December 1 to 5, the 5th edition of the Global Ayurveda Festival (GAF-2023) is scheduled to take place in Thiruvananthapuram district, Kerala. 
  • With a focus on highlighting Ayurveda's significant potential in addressing contemporary health challenges, the upcoming Global Ayurveda Festival (GAF-2023) aims to provide a platform for global networking among Ayurveda practitioners and stakeholders.  

RBI to Participate in the Global Financial Innovation Network's (GFIN) Greenwashing TechSprint 

  • The Reserve Bank of India is set to participate as one of the 13 foreign regulators in the inaugural Greenwashing TechSprint organized by the Global Financial Innovation Network (GFIN).  
  • The GFIN, now headed by the Financial Conduct Authority, is a coalition consisting of over 80 international institutions committed to fostering financial innovation in the best interests of consumers.  

National Pension System (NPS) 

  • The National Pension System (NPS) is a retirement benefit scheme established by the Government of India. Its primary objective is to provide a reliable source of income after retirement to all its subscribers.  
  • The Pension Fund Regulatory and Development Authority (PFRDA) serves as the governing body responsible for overseeing and regulating the NPS.  

IBM in Collaborates with NASA to Convert Satellite Data into High-Resolution Maps 

  • In collaboration with NASA, IBM has introduced a novel geospatial foundation model that aims to transform satellite data into high-resolution maps depicting floods, fires, and other changes in the landscape. These maps can provide insights into the planet's history and offer glimpses into its future. 
  • The geospatial model is expected to be available for preview in the latter half of this year. Its potential applications include assisting in assessing climate-related risks to crops, infrastructure, and buildings, evaluating and monitoring forests for carbon-offset initiatives, and developing predictive models to aid enterprises in devising strategies for climate change adaptation and mitigation. 
  • Arvind Krishna, Chairman and CEO of IBM, emphasized that foundation models enhance the scalability, affordability, and efficiency of deploying AI technologies. 
  • This model will be a part of IBM's watsonx.ai, an enterprise studio for next-generation AI capabilities. The platform is anticipated to be generally available in July, enabling AI builders to train, test, fine-tune, and deploy both traditional machine learning and new-generation AI capabilities.