Daily Current Affairs For BPSC as on 16.05.2023


1. Tungnath Temple

Why in news – Tungnath Temple has been declared a national monument by the Central Government.

Key Points –

• Archaeological Sites and Remains Act, 1958 defines an "Ancient Monument".

• A "Monument of National Importance" is designated by the Archaeological Survey of India (Ministry of Culture).

• Kedarnath Wild Life Sanctuary (Kedarnath Musk Deer Sanctuary, 1972) - to preserve the endangered musk deer.

About the Temple-

• It is located in the Rudraprayag district of Uttarakhand, India. (Garhwal Himalayas).

• Dedicated to lord Shiva.

• Altitude - 3,690 meters (12,106 feet) above sea level.

• It is 3rd of the 5 Panch Kedar temples (Tritiya Kedar).

• Built in the Nagara style of architecture.

• It is at the top of the ridge dividing the waters of the Mandakini River (raising from Kedarnath) from those of the Alaknanda River (raising above Badrinath).

• Pandavas built the temple to atone for their sins after killing their cousins, the Kauravas, in the Kurukshetra War.

• Lord Rama meditated on the Chandrashila peak around Tungnath.



Why in news – Ministry of corporate affairs (MCA) has set up the Centre for Processing Accelerated Corporate Exit (C-PACE).

Key Points –

• Aim - to provide a hassle-free filing, timely and process-bound removal of their company’s names from the register.

• Indian Institute of Corporate Affairs, Gurgaon.

• Operationalised through - Registrar of Companies (RoC).

• Section 248 of the Companies Act, 2013 provides for removal of the name of company from the RoC.

• Announced in the Union Budget 2022-23, C-PACE came into effect from April 1, 2023.

2. Transition from LIBOR

Why in news – Reserve Bank of India (RBI) has asked banks and financial institutions to complete the transition from the scandal-hit LIBOR by July 1, 2023.

Key Points –

• Banks to adopt a widely accepted Alternative Reference Rate, such as the Secured Overnight Financing Rate (SOFR).

• LIBOR - London Interbank Offered Rate.

• MIFOR - Mumbai Interbank Forward Outright Rate.

Value Addition -


(a) Globally, Banks and private companies use LIBOR as the benchmark rate for raising funds abroad.

(b) Key benchmark for setting the interest rates charged on adjustable-rate loans, mortgages and corporate debt.

LIBOR Scams –

(a) Played a role in worsening the 2008 Financial Crisis.

(b) In 2012, investigations uncovered a widespread, long-lasting scheme among multiple banks to manipulate rates for profit.

3. India's Foreign Exchange

Why in news - India's foreign exchange reserves have jumped to a 11-month high.

Key Points –

• India's import cover rose by about $7.2 billion to to $595.976 billion.

• India's record high forex reserves - $645 billion (October 2021).

Value Addition –

• Forex Reserve Components –

(a) Foreign Currency Assets (includes foreign currencies & G-Sec/bonds of foreign Govts).

(b) Gold

(c) Reserve Tranche Position (RTP) in the IMF.

(d) Special Drawing Right (SDR) of International Monetary Fund (IMF).

• Largest forex reserves - China ($3 Trillion)> Japan > Switzerland > India.


1. 6th Indian Ocean Conference

Why in news – The 2-day 6th Indian Ocean Conference was held in Dhaka, Bangladesh.

Key Points –

• Theme - Peace, Prosperity and Partnership for a Resilient Future.

• Organised by - India Foundation, Ministry of Foreign Affairs, Bangladesh and S. Rajaratnam School of International Studies.

• 1st edition - Singapore (2016). 5th edition - Abu Dhabi, UAE (2021).


1. Data Governance Quality Index (DGQI)

Why in news – The DGQI assessment for 2022-2023 Q3 was conducted by the Development Monitoring and Evaluation Office (DMEO) and NITI Aayog.

Key Points –

• Aim - to measure the maturity level of administrative data systems and their use in decision-making.

• 6 pivotal themes - Data Generation, Data Quality, Use of Technology, Data Analysis, Use and Dissemination, Data Security and HR Capacity.

• Ministry of Ports, Shipping and Waterways (MoPSW) secured the 2nd position among 66 ministries.

• MoPSW score - 4.7 out of 5.

• National Technology Centre for Ports, Waterways, and Coasts (NTCPWC) is located at IIT Madras, Chennai, Tamil Nadu.

• NTCPWC is developed under Sagarmala by MoPSW as a technology arm of the MoPSW.


1. International Day of Living Together in Peace 2023

Why in news – The International Day of Living Together in Peace, observed annually on May 16.

Key Points –

• It was designated United Nations General Assembly on December 8, 2017.

• Year 2000 - International Year for a Culture of Peace.

• Year 2001 to 2010 - International Decade for a Culture of Peace and Non-Violence for Children of the World.


1. Geeta Rao Gupta

Why in news – Indian American Geeta Rao Gupta confirmed as US Ambassador-At-Large for Global Women’s Issues.

Key Points –

• US President Joe Biden nominated Gupta for this role.

• She is known for promoting gender equality and women’s economic security,

• Additionally, she was appointed by the UN Secretary-General as the Deputy Executive Director of UNICEF.

• Sustainable Development Goal 5 - Gender equality.

2. DGP Praveen Sood

Why in news – Karnataka DGP Praveen Sood has been appointed as Director of the Central Bureau of Investigation (CBI) for 2 years.

Key Points –

• He would take charge from Subodh Kumar Jaiswal.

• Appointment order was issued by the Ministry of Personnel, Public Grievances and Pensions.

• The Director of the CBI is appointed as per section 4A of the Delhi Special Police Establishment Act of 1946.

• The Director of CBI has been provided security of two-year tenure in office by the CVC Act, 2003 (Vineet Narain Case 1998).

Appointment Committee –

• The Central Government shall appoint the Director of CBI on the recommendation of a 3-member committee.

• 3-member committee –

(a) Prime Minister as Chairperson

(b) Leader of Opposition in the Lok Sabha

(c) Chief Justice of India or Judge of the Supreme Court nominated by him.


• Which eminent astrophysicist got the first Astronomical Society of India Govind Swarup Lifetime Achievement Award in Pune - Prof. Jayant Vishnu Narlikar.

• Sportswear retailer Puma has appointed whom as the new Managing Director of PUMA India - Karthik Balagopalan.

• INS Kavaratti arrived at which port in Indonesia to participate in the 4th edition of India-Indonesia Bilateral exercise Samudra Shakti-23 – Batam.

• Which Bollywood star has been chosen to inspire and support the Indian contingent participating in the upcoming Special Olympics for individuals with intellectual disabilities in Berlin - Ayushmann Khurrana.

• Ministry of Home Affairs (MHA) to organise G20 Conference on Crime and Security in partnership with MeitY, MEA, NSCS, and CBI on July 13-14 in which city – Gurugram.

• India's largest tunnel aquarium “Aqua Marine Park” to come up in which city – Hyderabad.

• Who will lead the country's delegation at the Cannes Film Festival in 2023 - L Murugan.

• Defence Ministry has imposed phased ban on the import of how many military items to promote self-reliance in the defence manufacturing sector – 928.

• Which became the first in India to have a reading lounge - Lal Bahadur Shastri International (LBSI), Varanasi.

• RBI launched which campaign for return of unclaimed deposits - 100 Days 100 Pays.


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