Daily Current Affairs for 05th July 2023

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Alluri Sitarama Raju

Why in NEWS

President Droupadi Murmu has participated in the 125th birth anniversary celebrations of legendary freedom fighter Alluri Sitarama Raju.

Key Points

  • Alluri Sitharama Raju is believed to have been born in present-day Andhra Pradesh in 1897 or 1898. He is said to have become a sanyasi at the age of 18.
  • Who is Alluri Sitarama Raju? Freedom Fighter, Tribal Rights Crusader Whose  Statue PM Modi Unveiled - News18 Alluri Sitarama Raju launched the Rampa rebellion in 1922, which was also referred to as “Manyam Veerudu”. 
  • Leading the tribal in the agency areas, Alluri Sitarama Raju’s revolt against the British gained momentum after he opposed the strict implementation of the Madras Forest Act, 1882 that makes the life of tribal people miserable by prohibiting them from Podu cultivation (age-old-cultivation by the tribal where they cannot use the cultivation process of the plains).
  • His relentless and selfless struggle in protecting the livelihood of the tribal from the British rulers has gained their admiration and respect. Unable to digest the Alluri Sitaramaraju’s popularity among the tribes and his revolt against the ruling class, the British police arrested him on May 7, 1924, and was later shot dead by them.


State of Science Research in India

Why in NEWS

  • The government approval last week for National Research Foundation (NRF) is being widely welcomed by the scientific community.
  • The NRF has the potential to address a whole range of deficiencies in India’s scientific research sector that have been flagged for years now.


  • A huge pool of science and engineering ‘graduates, a large network of laboratories‘ and research institutions, and active involvement in some of the front line areas of scientific research usually puts India among the leading countries with deep scientific attitude.
  • However, in comparative terms, India lags behind several countries, some with much more limited resources, on a variety of research indicators.

Key Points

  • Unlike India, at the global level, growth in R&D expenditure has outpaced GDP growth.
  • India’s expenditure on R&D in purchasing power parity (PPP) terms in 2018 — about USS 68 billion — was the sixth highest in the world, after the US, China, Japan, Germany and South Korea. However, India was far behind. The US and China both spent more than USS 500 billion that year.
  • India spent only 42 US dollars (in PPP terms) per researcher in 2020, compared with nearly 2,150 by Israel, 2,180 by South Korea and 2,183 by the United States.
  • Moreover, women comprise only 18 percent of total scientific researchers in India, ‘while globally this number was 33 per cent.
  • India has nearly 40,000 institutions of Higher education, mostly colleges. More than 1200 of these are full-fledged universities. Only one per cent of these engage in active research, according to the detailed project report on NRE.
  • According to the Department of Science and Technology (DST), there were 7888 R&D institutions in the country in 2021, including more than 5200 units in the private sector and industries, which engage mainly in industry-specific research. The count of private sector units even includes 921 industries “with potential” to undertake research activities.
  • India produced 25,550 doctorates in 2020-21, of which 14,983 were in science and engineering disciplines. This 59 per cent proportion in the overall doctorates compares well with other countries, putting India in the seventh rank overall.
  • In 2021, a total of 61,573 patents were filed in India, making it the sixth largest in the world. But this was nowhere close to the nearly 16 lakh patents filed in China, and about six lakh in the United States that year.



Why in NEWS

  • Scientists while studying ferocious class of black holes called Quasars demonstrated “Time Dilation” in the early universe, showing how time then passed only about a fifth quickly as it does today.

About Quasars

  • Hubble Unexpectedly Finds Double Quasar in Distant Universe | NASAQuasar, an astronomical object of very high luminosity found in the centres of some galaxies and powered by gas spiralling at high velocity into an extremely large black hole.
  • The brightest quasars can outshine all Stars in the galaxies in which they reside, which makes them visible even at distances of billions of light-years.
  • Quasars are among the most distant and luminous objects known.
  • Quasars are capable of emitting hundreds or even thousands of times the entire energy output of our galaxy, making them some of the most luminous and energetic objects in the entire universe.


On Tap license to set up small finance banks

Why in NEWS

RBI has rejected applications of multiple entities applied for conversion into Small Finance Bank.

What is a Small Finance Bank?

  • Small Finance Banks in India are a specific segment of banking created by RBI, under the guidance of the Government of India. They were introduced with the objective of furthering financial inclusion by primarily extending basic banking services to un-served and underserved sections including small and marginal farmers, small business units, micro and small industries and unorganized entities.
  • Small finance institutions offer all basic banking services including lending and taking deposits. After the announcement during Union Budget for the year 2014-15, RBI issued the guidelines for Small Finance Banks in November 2014.
  • Small Finance Banks are operational under the regulation of the RBI in India, under the purview of the apex bank’s Banking Ombudsman Scheme, 2006, as amended from time to time. SFBs are registered as public limited companies under the Companies Act, 2013 and governed by Banking Regulations Act, 1949; RBI Act, 1934 and other relevant Statutes and Directives from time to time.

Who can become SFBs?

  • The minimum capital requirement to become SMB is Rs 200 crore.
  • Payments banks which have completed five years of operations are also eligible for conversion to small finance banks after complying with regulatory requirements.
  • The Reserve Bank has also allowed any resident individuals/professionals, singly or jointly, having at least 10 years of experience in banking and finance at a senior level to set up small finance banks.
  • Existing NBFCs, MFIs, and local area banks in the private sector, that are controlled by residents, and having successful track record of running their businesses for at least five years, can also opt for conversion into SFBs after complying with all regulatory requirements.


India vs Kuwait, SAFF Championship Final: Gurpreet's save helps India win SAFF  Championship, beat Kuwait on penalties | Sports News,The Indian ExpressSAFF Championship

Why in NEWS

Key Points

  • India won the championship by defeating Kuwait in the final. It is there 9th title and was the defending champion due to 2021 tournament win.

Host country



21 June – 4 July


8 (from 2 sub-confederations)

Final positions


https://upload.wikimedia.org/wikipedia/en/thumb/4/41/Flag_of_India.svg/23px-Flag_of_India.svg.pngIndia (9th title)



Tournament statistics

Matches played


Goals scored

38 (2.53 per match)


93,993 (6,266 per match)

Top scorer(s)

IndiaSunil Chhetri (5 goals)

Best player(s)

IndiaSunil Chhetri

Best goalkeeper

BangladeshAnisur Rahman Zico

Fair play award


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