Excellence by Saikat Sir: Daily Current Affairs August 29 2023

Daily Current Affairs August 29 2023 | Latest News

CURRENT AFFAIRS : BANKING & FINANCE

RBI approves merger of Akola Merchant Co-operative Bank Limited with Jalgaon Peoples Co-operative Bank

The Reserve Bank of India (RBI) has approved the merger of Akola Merchant Co-operative Bank Limited, located in Akola, Maharashtra, with The Jalgaon Peoples Co-operative Bank Limited, situated in Jalgaon, Maharashtra.
This strategic move was authorized by the RBI under Sub-Section (4) of Section 44A along with Section 56 of the Banking Regulation Act, 1949.
After the merger, the branches of Akola Merchant Co-operative Bank will function as branches of The Jalgaon Peoples Co-operative Bank.
This merger is expected to strengthen the banking sector in the region and improve customer services for both banks’ clients.

The RBI considers proposals for merger and amalgamation under 3 conditions :

When the net worth of the amalgamated bank is positive, and the acquiring bank assures the protection of all deposits of the amalgamated bank’s depositors.
When the net worth of the amalgamated bank is negative, and the acquiring bank independently guarantees the safeguarding of deposits for all depositors of the amalgamated bank.
When the net worth of the amalgamated bank is negative, and the acquiring bank pledges to protect the depositors’ deposits with upfront financial support from the state government as part of the merger process.

Axis Bank introduces UPI interoperability on its Digital Rupee app

As a part of the Reserve Bank of India’s ongoing Central Bank Digital Currency (CBDC) initiative, Axis Bank has launched a new UPI interoperability functionality on its ‘Axis Mobile Digital Rupee App’ to enhance the use of Digital Rupee among its customers.
With this, the bank aims to help customers use Digital Rupee for payments on UPI QR codes.

Key Features and Benefits :

UPI Interoperability: The ‘Axis Mobile Digital Rupee App’ now incorporates UPI interoperability, enabling customers to utilize e-Rupee for payments through existing UPI QR codes used by merchants.
Merchant Acceptance: This feature empowers merchants to readily accept Digital Rupee payments via their existing QR codes, streamlining the process and negating the need for mandatory onboarding.
Adoption Boost: The introduction of this pivotal feature of Digital Rupee and UPI interoperability is positioned to catalyze widespread adoption of the digital currency across India.

Phased Rollout and Pilot Cities:

Rollout Strategy:The UPI interoperability functionality on ‘Axis Mobile Digital Rupee’ app is being rolled out to users in a phased manner starting with Android, and will be available to all Digital Rupee users in the coming days.
Pilot Cities: During the initial stages, this functionality will be accessible to whitelisted users in 26 pilot cities, ensuring a controlled and efficient rollout process.

What is a central bank digital currency (CBDC)?

CBDC, e₹ or Digital Rupee, is a legal tender issued by the Reserve Bank of India initiative.
On 1 November, 2022, the apex bank started a pilot on CDBC in the wholesale segment, and rolled out retail testing on 1 December, 2022.
The e₹ offers features of physical cash like trust, safety and settlement finality with atomicity (i.e. immediate settlement of transactions) in the Digital mode.

HDFC Bank joins hands with Marriott International to launch India’s 1st co-branded hotel credit card

HDFC Bank has become the 1st bank in India to launch the ‘Marriott Bonvoy HDFC Bank Credit Card’, India’s first co-branded hotel credit card in partnership with Marriott Bonvoy, Marriott International’s award-winning travel programme.

Aim :

To enhance the travel experiences of our valued cardholders by offering exclusive benefits, rewards, and seamless access to Marriott International’s award-winning travel program.
The co-branded credit card will run on Diners Club, part of the Discover Global Network.

Key Features :

Rewarding Travel Experience: The HDFC Bank Marriott Bonvoy credit card is designed to offer one of the most rewarding travel experiences in India’s credit card market.
Silver Elite Status: Cardholders are granted Silver Elite Status within the Marriott Bonvoy loyalty program.
This comes with a range of privileges, including priority late checkout, access to exclusive member rates, bonus points for Marriott Bonvoy, and more.
Earn Marriott Bonvoy Points: Users of the co-branded credit card have the opportunity to earn Marriott Bonvoy points on eligible expenditures.
These points can be redeemed for various travel-related benefits, such as hotel stays, upgrades, and other experiences.
Annual Fee: The card comes with an annual fee of Rs 3000, offering customers access to its exclusive benefits upon successful credit approval.
Eligibility:
Salaried Indian National:
Age: Minimum 21 years & Maximum 60 Years
Gross Monthly Income> Rs 1,00,000
Self Employed Indian National:
Income: ITR > Rs 15 Lakhs per annum.

About HDFC Bank Ltd :

Headquarters : Mumbai, Maharashtra
MD & CEO : Sashidhar Jagdishan

State Bank of India (SBI) Introduces Non-Callable Term Deposits – “Sarvottam”

State Bank of India (SBI) launched its non-callable term deposits called SBI ‘Sarvottam’ for deposits above Rs 15 lakh.
According to the Reserve Bank of India (RBI), banks can offer higher interest rates on deposits of over Rs 15 lakh wherein the customers do not withdraw prematurely.

What is a non-callable deposit?

Non-callable deposit is a term deposit product wherein premature withdrawal is not allowed during the tenure of the deposit.

SBI Sarvottam FD rates :

Under the “Sarvottam” term deposits, the bank is providing depositors with a rate of interest of 7.40% for a two-year period.
The deposit rate is 7.10% for a one-year term.
Senior people will receive an extra 50 basis points (bps) of interest on top of what is offered to ordinary depositors.
For a two-year deposit and a one-year deposit, they will earn interest rates of 7.90% and 7.60%, respectively.

About SBI :

Established : 1 July 1955
Headquarters : Mumbai, Maharashtra, India
Chairman : Dinesh Kumar Khara
CFO : Kameshwar Rao Kodavanti

ICC partners with Mastercard for ICC Men’s Cricket World Cup 2023

The International Cricket Council (ICC) announced an association, with Mastercard becoming a Global Partner for the ICC Men’s Cricket World Cup 2023 to be held in India between 5 October and 19 November 2023.
With this, Mastercard joins ICC’s other global partners MRF Tyres, Booking.com, Aramco and

Key Highlights :

In addition to the exclusive 24-hour pre-sale window, Mastercard cardholders will be able to avail a number of benefits.
These opportunities include the chance to meet cricket legends, get up close to the Men’s Cricket World Cup trophy and experience unique access on match days.
Children of cardholders aged between 12-18 years will also have the chance to be a part of the flagbearer programme

About ICC Men’s Cricket World Cup 2023 :

The 2023 ICC Men’s Cricket World Cup will be the 13th edition of the Cricket World Cup, a quadrennial One Day International (ODI) cricket tournament contested by men’s national teams and organised by the ICC.
It will be the first men’s Cricket World Cup to be hosted solely by India.
The final is scheduled to be played at the Narendra Modi Stadium, Ahmedabad on 19 November 2023.

About Mastercard :

Established : 1966
Headquarters : New York, United States
CEO : Michael Miebach

About ICC :

Established : 15 June 1909
Headquarters : Dubai, United Arab Emirates
CEO : Geoff Allardice
The ICC is the global governing body for cricket representing 108 members.

Bandhan Bank opens branch in Leh, Ladakh

To celebrate the 8th foundation day, Bandhan Bank opened its branch in the Leh district of Union Territory (UT), Ladakh, marking its presence in 35 of the 36 states and UTs of India.
Bandhan Bank also opened another branch in Srinagar, Jammu & Kashmir (J&K).
HDFC Bank Director, Keki Mistry was invited as the chief guest and spoke at the occasion.
The bank will continue to expand its footprint to reach a wider population across the country.
Bandhan bank also launched its new musical logo which has been composed by one of the leading musicians of India, Amit Trivedi.

About Bandhan Bank :

Founded : 2015
Headquarters : Kolkata, West Bengal, India
Founder, MD and CEO : Chandra Shekhar Ghosh.

Airtel Payments Bank enables Fastag-based parking payments at Patna airport

Airtel Payments Bank, a prominent player in the digital banking space, has introduced a Fastag-based parking payments, streamlined solution for parking payments at Jayprakash Narayan International Airport in Patna.

Key Features :

Automatic Cashless Payments: Fastag-based parking implementation allows for automatic and hassle-free cashless payments at the exit of the airport.
This enhances the overall convenience and expediency of vehicle movement within the airport’s parking areas.
Seamless Vehicle Movement: By utilising valid Fastags affixed to vehicles, the parking fee is seamlessly deducted, facilitating smooth vehicle movement within the airport premises.
This modernized approach also contributes to addressing the growing issue of airport congestion
Nationwide Implementation: Airtel Payments Bank is actively collaborating with multiple partners to extend Fastag-based parking payments across various locations throughout the country, enabling similar convenient parking experiences for users.
Expansion to Multiple Airports: The system is already operational at other airports like Varanasi, Bhubaneswar, and Aurangabad, illustrating Airtel Payments Bank’s commitment to delivering modern and consistent services to air travellers across India.
Leading Fastag Issuer: Airtel Payments Bank holds a distinguished position as one of the top 5 issuers of Fastags in the nation.
The bank claims that its digital-first approach has helped it become a leading player in the Fastag segment.
Customers can easily purchase a Fastag from the banking section of the Airtel Thanks App.

CURRENT AFFAIRS: NATIONAL NEWS

Shri Amit Shah chairs Western Zonal Council in Gandhinagar

The Union Home and Cooperation Minister Amit Shah chaired the 26th meeting of the Western Zonal Council at Gandhinagar, in Gujarat.
The meeting was organized by the Inter-State Council Secretariat under the Ministry of Home Affairs in collaboration with the Government of Gujarat.
Chief Minister of Maharashtra Eknath Shinde, Gujarat Chief Minister Bhupendra Patel, Chief Minister of Goa Pramod Sawant, and administrator of Union Territory of Dadra Nagar Haveli and Daman, Diu Praful Patel attended the Meeting along with senior officials from state and Central Government.
Union Minister Amit Shah inaugurated an e-resource web portal, of the Inter-State Council Secretariat.
This Portal contains minutes & agendas of various meetings of the Inter-State Council, 5 Zonal Councils & their Standing Committees since their inception.
The digital portal can be used by Central Ministries and departments as well as State governments and UTs for policy intervention.
A wide range of issues including infrastructure, water supply, environment and forests, and issues of general regional and national interests were discussed in the meeting.
The Western Zonal Council comprises the states of Gujarat, Goa, and Maharashtra, and the Union Territories of Dadra and Nagar Haveli and Daman & Diu.

About Gujarat :

Governor: Acharya Devvrat
Chief minister: Bhupendrabhai Patel
Capital: Gandhinagar
National Park : Vansda National Park, Gir National Park, Marine National Park, Velavadar National Park
Wildlife Sanctuaries : Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Shoolpaneshwar Wildlife Sanctuary

The second G20-Chief Scientific Advisers’ Roundtable meet begins in Gandhinagar

The second G20-Chief Scientific Advisers’ Roundtable meeting began in Gandhinagar.
Science advisors, Scientists, researchers from G 20 countries, and invited countries are taking part in the meeting.
The meeting began with the opening remarks by Principal Scientific Adviser to the Government of India Prof. Ajay Kumar Sood.
There will be a total of Four sessions on themes such as ‘Opportunities in One Health, Synergizing Global Efforts to expand the Access to Scholarly Scientific Knowledge’, Diversity, Equity, and Accessibility in Science & Technology and Institutional Mechanism for Inclusive Global S&T Policy Dialogue.
In the first session, the delegates deliberated on critical issues for the advancement of inclusive Global Science advice.
After the daylong deliberations, Policy communiqué will be presented in the concluding session.
On the sidelines of the meeting, three bilateral meetings between India and Saudi Arabia, Australia and UK were held.

India hand over B20 presidency to Brazil to host G20 in 2024

India has handed over the B20 presidency to Brazil to host G20 in 2024.
B20 India Chair N Chandrasekaran said that India’s B20 Presidency under the its G20 Presidency worked under the theme of Vasaudeva Katumbakam (One Earth, One Family, One Future).
It is being attended by over one thousand 500 global business delegates and experts across 55 countries.
Mr Chandrasekaran said, that during this period we worked on nine important themes which included the empowerment of women and youth, the transition towards an Artificial Intelligence world, building a global resilient supply chain and financing for the global economic recovery.
The presidency of India’s B20 has been recognized for its effective process, engagement, and consensus-building in generating 54 policy recommendations over the last nine months.

About Brazil

Capital: Brasília
Currency: Real

Ministry of Heavy Industries to organise a Conference on “Review of PLI-Auto Scheme – Excellence through Aatmanirbharta”

The Ministry of Heavy Industries (MHI) is organizing a conference on “Review of PLI-Auto Scheme – Excellence through Aatmanirbharta” at India Habitat Centre.
The conference will be chaired by Dr. Mahendra Nath Pandey, Union Minister for Heavy Industries.
The event aims to bring together stakeholders viz. PLI-Auto applicants, PMA, Test Agencies etc. to review the performance of the scheme, to share their knowledge & experiences and to address all concerns & challenges.
The event shall have a special focus on understanding the opportunities available through this scheme.
MHI has taken various initiatives to promote Cleaner Mobility and develop an ecosystem of Innovation and Technology.
In the automotive sector, Ministry has launched various flagship programs, one of which is PLI scheme for Automobile & Auto Components (outlay of ₹25,938 crore).
The cascading effect of these schemes will lead to the growth of automotive industry and it is poised that the Indian automotive industry will rank number three in the world by 2030.
MHI considers the PLI-Auto applicants of the Automotive Industry as one of the crucial stakeholders of scheme.
MHI is committed to supporting the industry to fulfil the vision of “Excellence through Aatmanirbharta” as envisioned by the Prime Minister.
As per MHI, the goal of deep localization and development of Advanced Automotive Technology (AAT) Products within the country cannot be achieved without the support and growth of Automotive Industry.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Prime Minister Shri Narendra Modi Participates in BRICS Business Forum Leaders’ Dialogue

Prime Minister Narendra Modi took part in the BRICS (encompasses Brazil, Russia, India, China and South Africa) Business Forum Leaders’ Dialogue in Johannesburg,South Africa.
He delivered an address during this dialogue session, highlighting India’s economic resilience and growth amidst global economic challenges.

India’s Economic Standing and Future Projection :

Despite global economic uncertainties, PM Modi emphasised that India continues to maintain its status as the fastest-growing major economy worldwide.
He expressed confidence that India is on track to become a five trillion dollar economy in the near future.

Key Highlights :

PM Modi reached South Africa on 22 August, 2023 to attend the 15th BRICS Summit.
He was received by Deputy President of South Africa Paul Mashatile.
The theme of the 15th BRICS Summit is BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism.

Engagements During the Visit :

PM Modi participated in the BRICS-Africa Outreach and BRICS Plus Dialogue event, demonstrating India’s commitment to fostering multilateral collaboration.
Following his engagement in South Africa, PM Modi had plans to travel to Athens, Greece, at the invitation of Prime Minister Kyriakos Mitsotakis.
This visit marked his first trip to Athens

Note :

Chinese President Xi Jinping chaired the 14th BRICS Summit on June 23, 2022 in Beijing, China
Theme of the 14th BRICS Summit: Foster High-quality BRICS Partnership, Usher in a New Era for Global Development.

About BRICS :

Headquarters : Shanghai, China
BRICS represent over 42% of the global population, 23% of world GDP, and 18% of global trade.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Deendayal Port, DP World sign a agreement for construction of mega-container terminal

Deendayal Port Authority and DP World have signed a concession agreement in the presence of Ports, Shipping and Waterways Minister Sarbananda Sonowal in New Delhi.
The project involves the construction of a mega-container terminal at Tuna-Tekra near the existing Deendayal Port, at a cost of over 4,243 crores rupees through a Public Private Partnership.
Once completed the terminal will have an annual capacity of 2.19 million twenty-foot equivalent units (TEUs) and will include a 1,100-metre berth capable of handling next-generation vessels carrying more than 18,000 TEUs.
This concession agreement is part of Mr Sonowal’s target of identifying investment opportunities of more than 10 lakh crore rupees in the Indian Maritime Sector ahead of the Global Maritime Summit 2023.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Justice Prakash Shrivastava Sworn in as chairperson of National Green Tribunal

Former Chief Justice (CJ) of the Calcutta High Court, Justice Prakash Shrivastava has been appointed as the new chairperson of the National Green Tribunal (NGT).
This was followed by Justice Sheo Kumar Singh, the outgoing acting chairperson.

About Justice Prakash Shrivastava :

Justice Srivastava was appointed as a judge of the High Court of Madhya Pradesh on January 18, 2008 & became a permanent judge on January 15, 2010.
He was the Chief Justice of the Calcutta High Court from October 11, 2021, to March 30, 2023.
The central government appoints the chairperson of the NGT in consultation with the Chief Justice of India (CJI).
The right to a healthy environment has been construed to be a part of the right to life under Article 21 of the Constitution.

Kartik Aaryan is the new face of Dabur Red Bae Fresh Gel

Indian multinational consumer goods company, Dabur India Limited has signed the youth sensation Kartik Aaryan as the face of its newly launched gel toothpaste- Dabur Red Bae Fresh Gel.
This extension of the powerhouse mother brand ‘Dabur Red’, which is the World’s No. 1 Ayurvedic Toothpaste brand present in every 1 in 3 households in India, will further strengthen the franchise penetration, especially among the younger Indian population.

About Dabur Ltd :

Headquarters : Ghaziabad, Uttar Pradesh, India
CEO : Mohit Malhotra
Chairman : Mohit Burman

Guardian Life Insurance of America appoints Shiney Prasad as Country Head

New York-based one of the world’s largest mutual life insurance companies, Guardian Life Insurance of America has appointed Shiney Prasad as Country Head – India, who will report to Chief Information and Operations Officer Dean Del Vecchio.

About Shiney Prasad :

He has earlier worked at Sun Life Financial, AIG, Max New York Life, GE Capital and American Express.
Prior to this new appointment, he was the India Business Consulting Partner and Insurance Sector Leader at EY.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Saraswat Cooperative Bank to sell LIC products under bancassurance tie-up

Life Insurance Corporation of India (LIC) and Mumbai-headquartered Saraswat Cooperative Bank have entered into a partnership under which the bank will sell the insurance major’s products.
The partnership is part of efforts to increase penetration of life insurance through the bancassurance channel.
LIC has insurance products for all segments of society, from annuity, ULIP, term insurance to savings plans.
Its close ended guaranteed benefit plan Dhan Vriddhi, for those aged 90 days to 60 years, is available till September 30, 2023

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China successfully launched new satellite for Earth observation

China has successfully launched a new Earth observation satellite Gaofen-12 04 into space from the Jiuquan Satellite Launch Center in northwest China
The satellite was carried into space using a Long March-4C carrier rocket and achieved its planned orbit.
The launch marks the 484th flight mission of the Long March series carrier rocket.

About Gaofen-12 04 satellite :

Applications :

The Gaofen-12 04 satellite is designed for diverse applications, primarily focusing on areas such as land survey, urban planning, road network design, crop yield estimation, as well as disaster prevention and reduction.

China’s Space Accomplishments in 2022 :

In the year 2022, China set a remarkable record by successfully conducting a total of 64 space launches, reaffirming its prominence in the global space arena.
This achievement positioned China as the 2nd most active nation in space launches, trailing only the United States.

About Long March-4C rocket :

The Long March-4C rocket is a liquid-propellant launch vehicle consisting of three stages.
Notably, it has the capability to accommodate various types of satellites with different orbital requirements
The Long March-4C can transport payloads weighing up to 3 tonnes to a sun-synchronous orbit located at an altitude of 700 kilometres.

About China :

Capital : Beijing
Currency : Renminbi

CURRENT AFFAIRS: SPORTS NEWS

US Open tennis tournament to start in New York

The fourth and final Grand Slam of the season, the US Open tennis tournament will kick off in New York.
In women’s singles, world No. 1 Iga Swiatek of Poland looking to defend their 2022 wins.
In the women’s competition, defending champion Iga will take on Sweden’s Rebecca Peterson at the Arthur Ashe Stadium to start off her campaign.
In men’s singles Serbian Novak Djokovic makes a return.
The world No. 2 is bidding for his fourth US Open men’s singles tennis title and will look to equal Margaret Court’s record of 24 Grand Slams, the most by any player in history.
Spain’s Spanish Carlos Alcaraz, who beat Djokovic in the final of the 2023 Wimbledon, is the top seed at the competition.
Alcaraz will begin his title defence against Dominik Koepfer of Germany.

Neeraj Chopra becomes first Indian to win Gold medal at World Athletics Championships 2023 in Budapest, Hungary

Javelin thrower Neeraj Chopra won India’s first-ever gold at the World Athletics Championships 2023 in Budapest, Hungary.
In the men’s javelin final, Neeraj Chopra won the Gold medal with a throw of 88.17 metres.
Pakistan’s Arshad Nadeem clinched Silver with a throw of 87.82 metres.
Czech player Jakub Vadlejch got bronze Kishore Jena finished 5th and DP Manu at 6th in the javelin throw event.
In the women’s 3000-metre steeplechase event, India’s Parul Choudhary has finished 11th, but, clocked her personal best, qualified for Paris Olympics 2024.
She clocked 9:15:31 in the women’s 3000m steeplechase finals.
With this performance, Parul set a new national record in women’s steeplechase.
In the men’s 4x400m relay, the Indian team of Muhammed Anas Yahiya, Amoj Jacob, Muhammed Ajmal Variyathodi and Rajesh Ramesh finished fifth with an impressive time of 2:59.92.
The same quartet had clocked a new Asian and national record of 2.59.05s to qualify for the finals.

India defeats Thailand in Women’s Asian Hockey 5s World Cup Qualifier in Salalah, Oman

In hockey, India defeated Thailand 5-4 at the Women’s Asian Hockey 5s World Cup Qualifier in Salalah, Oman.
For India, Navjot Kaur, Monika Dipi Toppo, Mahima Choudhary, and Ajmina Kujur scored.
Piresram Anongnat, Aunjai Natthakarn, and Suwapat Konthong scored for Thailand.
Monika Dipi Toppo scored twice for India, while Aunjai Natthakarn scored twice for Thailand.

About Oman:

Capital: Muscat
Currency: Omani Rial

About Thailand:

Capital: Bangkok
Currency: Thai Baht

HS Prannoy wins a bronze medal at BWF World Championships 2023 in Copenhagen

In badminton, India’s ace shuttler HS Prannoy had to settle for a bronze medal as he registered a loss to Kunlavut Vitidsarn in the semifinals of the ongoing Badminton World Federation (BWF) World Championships 2023.
Prannoy went down to world number three and three-time Junior champion Vitidsarn by 21-18, 13-21, 14-21.
Prannoy stormed into the semi-final of the BWF World Championships after defeating World Number 2 and the defending champion Viktor Axelsen at Kuala Lumpur.
With this win, World Number 7 Prannoy assured a bronze medal for India by beating the home favourite Axelsen in three games 21-13, 15-21, 16-21.
This is India’s 14th medal at the World Championships. This includes one gold, four silvers and nine bronze medals.
China is the most successful team in the tournament’s history, with 196 medals, including 69 gold, 48 silver and 79 silvers.
The BWF World Championships 2023 are being held from August 21 to 27 in Copenhagen, Denmark.

About BWF

Headquarters: Kuala Lumpur, Malaysia
Formation: 1934
President: Poul-Erik Høyer Larsen
Membership: 194 member associations

Indian men’s Blind cricket team settles for silver medal after loss to Pakistan

In Cricket, the Indian men’s visually impaired team settled for a silver medal after a defeat against Pakistan in the final of the men’s T20 cricket event at the International Blind Sports Federation (IBSA) World Games 2023 at Edgbaston, Birmingham.
Batting first, India posted 184 for 3 in the stipulated twenty overs.
Pakistan chased down the target of 185 runs in the 15th over after a dominating batting display.
The cricket game was included in the IBSA World Games for the first time and India’s both men’s and women’s blind teams reached the finals to ensure a medal for India.
Earlier, the Indian women’s team beat Australia by nine wickets on the DLS method to claim the historic gold medal for India.

CURRENT AFFAIRS: IMPORTANT DAYS

National Sports Day 2023 – August 29

National Sports Day or Rashtriya Khel Divas is celebrated on 29 August every year.
This day is celebrated on Dhyan Chand’s birthday to honor the hockey legend.
Major Dhyan Chand a field hockey player is recognized by many to be the greatest field hockey player ever.
India won the field hockey event in seven of the eight Olympics from 1928 through 1964, demonstrating his influence beyond these successes.
To mark his birthday, India established National Sports Day in 2012.
The purpose of celebrating this day is to honour the sporting legend and create awareness about the importance of sports in everyday life.
The President of India honours this National Sports Day 2023, including the Khel Ratna, and Arjuna Awards, to famous sports luminaries.
There are almost 8,000 sports listed in the “World Sports Encyclopedia”.
Wrestling was the first sport and it began in Greece around 776B.C.

Daily CA One- Liner: August 29

The Reserve Bank of India (RBI) has approved the merger of Akola Merchant Co-operative Bank Limited, located in Akola, Maharashtra, with The Jalgaon Peoples Co-operative Bank Limited, situated in Jalgaon, Maharashtra.
As a part of the Reserve Bank of India’s ongoing Central Bank Digital Currency (CBDC) initiative, Axis Bank has launched a new UPI interoperability functionality on its ‘Axis Mobile Digital Rupee App’ to enhance the use of Digital Rupee among its customers.
HDFC Bank has become the 1st bank in India to launch the ‘Marriott Bonvoy HDFC Bank Credit Card’, India’s first co-branded hotel credit card in a partnership with Marriott Bonvoy, Marriott International’s award-winning travel programme.
State Bank of India (SBI) launched its non-callable term deposits called SBI ‘Sarvottam’ for deposits above Rs 15 lakhs.
The International Cricket Council (ICC) announced an association, with Mastercard becoming a Global Partner for the ICC Men’s Cricket World Cup 2023 to be held in India between 5 October and 19 November 2023.
To celebrate the 8th foundation day, Bandhan Bank opened its branch in the Leh district of Union Territory (UT), Ladakh, marking its presence in 35 of the 36 states and UTs of India.
Airtel Payments Bank, a prominent player in the digital banking space, has introduced a Fastag-based parking payments, streamlined solution for parking payments at Jayprakash Narayan International Airport in Patna.
Prime Minister Narendra Modi took part in the BRICS (encompasses Brazil, Russia, India, China and South Africa) Business Forum Leaders’ Dialogue in Johannesburg,South Africa.
Former Chief Justice (CJ) of the Calcutta High Court, Justice Prakash Shrivastava has been appointed as the new chairperson of the National Green Tribunal (NGT).
Indian multinational consumer goods company, Dabur India Limited has signed the youth sensation Kartik Aaryan as the face of its newly launched gel toothpaste- Dabur Red Bae Fresh Gel.
New York-based one of the world’s largest mutual life insurance companies, Guardian Life Insurance of America has appointed Shiney Prasad as Country Head – India, who will report to Chief Information and Operations Officer Dean Del Vecchio.
Life Insurance Corporation of India (LIC) and Mumbai-headquartered Saraswat Cooperative Bank have entered into a partnership under which the bank will sell the insurance major’s products.
China has successfully launched a new Earth observation satellite Gaofen-12 04 into space from the Jiuquan Satellite Launch Center in northwest China

The Union Home and Cooperation Minister Amit Shah chaired the 26th meeting of the Western Zonal Council at Gandhinagar, in Gujarat
The second G20-Chief Scientific Advisers’ Roundtable meeting began in Gandhinagar.
India has handed over the B20 presidency to Brazil to host G20 in 2024.
The Ministry of Heavy Industries (MHI) is organizing a conference on “Review of PLI-Auto Scheme – Excellence through Aatmanirbharta” at India Habitat Centre.
Deendayal Port Authority and DP World have signed a concession agreement in the presence of Ports, Shipping and Waterways Minister Sarbananda Sonowal in New Delhi.
The fourth and final Grand Slam of the season, the US Open tennis tournament will kick off in New York.
Javelin thrower Neeraj Chopra won India’s first-ever gold at the World Athletics Championships 2023 in Budapest, Hungary.
In hockey, India defeated Thailand 5-4 at the Women’s Asian Hockey 5s World Cup Qualifier in Salalah, Oman.
In badminton, India’s ace shuttler HS Prannoy had to settle for a bronze medal as he registered a loss to Kunlavut Vitidsarn in the semifinals of the ongoing Badminton World Federation (BWF) World Championships 2023.
In Cricket, the Indian men’s visually impaired team settled for a silver medal after a defeat against Pakistan in the final of the men’s T20 cricket event at the International Blind Sports Federation (IBSA) World Games 2023 at Edgbaston, Birmingham.
National Sports Day or Rashtriya Khel Divas is celebrated on 29 August every year

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