Excellence by Saikat Sir: Daily Current Affairs September 20 2023

Daily Current Affairs September 20 2023 | Latest News

CURRENT AFFAIRS : BANKING & FINANCE

IREDA signs MoUs with Bank of Maharashtra for Financing Renewable Energy Projects

Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has signed a significant Memorandum of Understanding (MoU) with Bank of Maharashtra (BoM).
This collaboration aims to promote and facilitate co-lending and loan syndication for a diverse spectrum of Renewable Energy projects across the nation.
The MoU comprises several services including co-len ding and co-origination support for all Renewable Energy projects, facilitating loan syndication and underwriting, management of Trust & Retention Account for IREDA borrowers, and a commitment to establishing stable fixed interest rates spanning a period of 3-4 years for IREDA borrowings.
Under this agreement, the Bank of Maharashtra can invest in the Bonds issued by IREDA in accordance with the specified terms and conditions of the offering.
The MoU was signed by the General Manager (Technical Services), IREDA, Shri Bharat Singh Rajput and the General Manager (Retail & MSME Credit), Bank of Maharashtra, Shri Rajesh Singh at IREDA’s Business Centre, New Delhi.
The signing ceremony took place in the presence of the Chairman and Managing Director of IREDA, Shri Pradip Kumar Das and other senior officials from both organisations.

About IREDA :

Headquarters : New Delhi, Delhi
Chairman & Managing Director : Pradip Kumar Das
The IREDA is a Public Limited Government Company and a Non-Banking Financial Institution formed for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation with the motto: “ENERGY FOR EVER”.
It is a Mini Ratna (Category – I) Government of India Enterprise with the objective of promoting, developing and extending financial assistance and under the administrative control of the Ministry of New and Renewable Energy (MNRE).

Recent News

In May 2023, The government appointed IDBI Capital, BOB Capital and SBI Capital to manage the initial public offer (IPO) of the Indian Renewable Energy Development Agency (IREDA).
In June 2023, Indian Renewable Energy Development Agency Ltd. (IREDA) held its 36th Annual General Meeting (AGM) at India Habitat Centre in New Delhi.

About BoM :

Founded : 16 September 1935
Headquarters : Pune, Maharashtra India
MD & CEO : A. S. Rajeev
Tagline : One Family One Bank

IRDAI Established Interdisciplinary Standing Committee on Cyber Security

The Insurance Regulatory and Development Authority of India (IRDAI) has formed a standing committee on cyber security.

Purpose of the committee :

To conduct regular reviews of the threats associated with existing or emerging technologies in the insurance industry.

Role of the Committee :

The committee will also recommend appropriate changes to the framework to enhance the cyber security posture and resilience of the insurance industry.
This initiative was taken following the issuance of the Information and Cyber Security Guidelines in April, 2023.

Composition of the committee :

The standing committee comprises 10 members chaired by PS Jagannatham.
The committee includes technology professionals from academia, industry experts, and representatives of the insurance broking community.
External members may also be invited to join the committee as needed.

Mandate of Cyber Security Norms :

The cyber security norms, as mandated by IRDAI, require insurers and intermediaries to adopt a risk-based approach.
They are required to implement necessary measures to secure their systems and data against cyber threats.

About IRDAI :

Established : 1999
Headquarters : Hyderabad, Telangana
Chairperson : Debasish Panda
The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance industries in India.

Ujjivan Small Finance Bank Launches Maxima Savings Account and Business Maxima Current Account for Premium Customers

Ujjivan Small Finance Bank (Ujjivan SFB), a leading small finance bank, has introduced the Maxima Savings Account and Business Maxima Current Account for the premium customer segment.
These new offerings aim to improve the banking experience for both new and existing customers by providing a variety of services and benefits.
The products are designed to provide customers with various benefits, superior features, and a premium experience to meet their various financial and banking needs.

Key Highlights :

The annual interest rate on the Maxima Savings Account is up to 7.5% and customers can open the account with Rs 1 lakh.
Premium customers have the flexibility to maintain 15 lakh or more in fixed deposits to meet the balance eligibility criteria for this account, a unique feature not typically available with standard savings accounts.
Additional services and benefits of the Maxima Savings Account include higher transaction limits, free issuance of cheques and demand drafts (DD), free transactions across all channels, and unlimited cash deposits and withdrawals at any branch.
Applicable customers of the Maxima Savings Account also receive a complimentary Health Prime Benefit.

Business Maxima Current Account :

Ujjivan Small Finance Bank has introduced the Business Maxima Current Account for premium business customers.
This account features convenient online banking, instant fund transfers, and cash management options.

Key features of the Business Maxima Current Account include

The ability for businesses to define their own cash deposit limit
A higher daily ATM withdrawal limit of 5 lakhs per day
Provision of beyond banking services such as account services for merchants, and free installation and rental fees for point-of-sale (POS) services.

About Ujjivan Small Finance Bank :

Founded : 1 February 2017
Headquarters : Bangalore, Karnataka, India
MD & CEO : Mr. Ittira Davis

Gullak Partners with Juspay Becomes the First in India to Implement UPI Plugin SDK

Gullak, a prominent fintech app, has become the first to implement Juspay’s UPI plugin SDK called “HyperUPI.”

Key Highlights :

The implementation of HyperUPI eliminates the need for Gullak’s customers to switch to another UPI payment app when making payments during the checkout process.
Payments can now be completed entirely within Gullak’s app.
As a result of this integration, the time taken for a UPI payment has been significantly reduced, from 22 seconds to less than 3 seconds.
The integration of HyperUPI leads to a smoother payment experience for users, with fewer taps required, near-zero payment failure rates, and a 100% elimination of redirection to external payment apps.

CURRENT AFFAIRS: NATIONAL NEWS

Law Minister Arjun Ram Meghwal introduces Women’s Reservation Bill in Lok Sabha

The government has introduced the Women’s Reservation Bill in the Lok Sabha.
The Bill has been named Nari Shakti Vandan Adhiniyam.
Union Law Minister Arjun Ram Meghwal introduced the 128th Amendment Bill, 2023 in this regard.
Introducing the bill, he informed that once the Nari Shakti Vandan Adhiniyam is passed, the number of seats for women in Lok Sabha will increase to 181.
The Lok Sabha has been adjourned for the day after the introduction of the bill.
The old Parliament House has been renamed as Samvidhan Sadan.

10th meeting of India-Malaysia Joint Sub-Committee on Defence Science, Technology and Industry Cooperation held in New Delhi

The 10th meeting of the India-Malaysia Joint Sub-Committee on Defence Science, Technology and Industry Cooperation was held in New Delhi.
The meeting was co-chaired by Joint Secretary (Naval Systems), Department of Defence Production, Ministry of Defence Shri Rajeev Prakash and Under Secretary, Defence Industry Division, Ministry of Defence, Malaysia Mr Eris Jemadi bin Tajudin.
According to the Defence Ministry, the existing defence research and industry cooperation between the two countries was reviewed and discussions were held on issues pertaining to mutual interest during the meeting.
During the meeting, the existing defence research and industry cooperation between the two countries was reviewed and discussions were held on issues pertaining to mutual interest.
Both sides explored effective and practical initiatives to further expand the ongoing interactions related to the defence industry sector.

Prime Minister Shri Narendra Modi launches ‘PM Vishwakarma’ Scheme for traditional artisans and craftspeople on occasion of Vishwakarma Jayanti

Prime Minister Narendra Modi launched the PM Vishwakarma scheme in New Delhi on the occasion of Vishwakarma Jayanti.
Vishwakarma, in Hindu mythology, is seen as the architect of the gods and was the divine carpenter and master craftsman.
The scheme will provide government support to workers engaged in traditional crafts and skills.
This scheme was first announced by PM Modi during his Independence Day speech.
It is a new scheme with an outlay of Rs 13,000 crore and is fully funded by the Central government.
The scheme also aims at improving the quality, as well as the reach of products and services of artisans and craftsmen.

About the PM Vishwakarma Scheme

The Ministry of Micro, Small & Medium Enterprise (MSME) is the nodal ministry.
The Ministry of Tribal Affairs, would provide active support for implementation of the scheme for the wellbeing of the Vishwakarmas.
The Scheme will be jointly implemented by the Ministry of Micro, Small and Medium Enterprises (MSME), the Ministry of Skill Development and Entrepreneurship (MSDE) and the Department of Financial Services (DFS), Ministry of Finance (MoF), Government of India.
This list included 18 traditional crafts such as Boat Maker; Armourer; Blacksmith; Hammer and Tool Kit Maker; etc.
Five lakh families will be covered in the first year and 30 lakh families over five years.
They will be given skill upgradation involving basic and advanced training, a toolkit incentive of ₹15,000, collateral-free credit support up to ₹1 lakh (first tranche tenure of repayment 18 months ) and ₹2 lakh (second tranche tenure of repayment 30 months) at a concessional interest rate of 5%.
A toolkit booklet has also been released in 12 Indian languages, with accompanying video element.
Participants will get a stipend of ₹500 per day while undergoing training.
The minimum age of the beneficiary should be 18 years on the date of registration.
The beneficiary should be engaged in the trades concerned on the date of registration and should not have availed loans under similar credit-based schemes of the Central Government or State Government for self-employment/ business development, e.g. PMEGP, PM SVANidhi, Mudra, in the past 5 years.
The benefit of the entire interest subvention of upto 8% shall be passed on upfront to the beneficiaries by MoMSME through banks.
Scheduled Commercial Banks, Regional Rural Banks, Small Finance Banks, Cooperative Banks, Non-Banking Finance Companies and Micro Finance Institutions, are eligible to lend under this Scheme.
The Lending Institutions will be encouraged to use their network of field functionaries i.e., Business Correspondents/ Associates to ensure maximum coverage of the Scheme.
The Scheme aims to digitally empower the beneficiaries by facilitating them to adopt digital transactions.
An amount of Re. 1 per eligible digital transaction (up to a maximum of 100 eligible transactions) monthly will be credited to the beneficiary’s bank account in DBT mode through Aadhaar Payment Bridge System (APBS).

Shantiniketan included in UNESCO World Heritage list

During the 45th session of the World Heritage Committee, the decision to include Santiniketan in the list was taken.
The 45th session of the World Heritage Committee is currently underway in Saudi Arabia.

About Shantiniketan

Shantiniketan was established in 1901 by Maharshi Debendranath Tagore, father of Nobel laureate Rabindranath Tagore.
Shantiniketan is located in Birbhum district of West Bengal.

Key Highlights

The centre first tried to get a World Heritage tag for Shantiniketan in 2010.
Visva-Bharati in Shantiniketan is the only central university of Bengal. The Prime Minister is the chancellor of this university.
ICOMOS had recommended the inclusion of Shantiniketan in the UNESCO World Heritage List a few months ago.
Shantiniketan has become the 41st UNESCO World Heritage Site in India.
It has become the third UNESCO World Heritage Site in West Bengal after the Sundarbans National Park and the Darjeeling Mountain Railways.
Last year, West Bengal’s Durga Puja was placed in “Intangible Cultural Heritage of humanity” under UNESCO.
A ‘world university’ – Visva Bharati – was set up at Shantiniketan in 1921.
Other sites placed on the list on 17 September 2023 are:
Ancient Jericho in Palestine,
Zarafshan-Karakum Corridor of Silk Roads in Tajikistan,
Turkmenistan,
Uzbekistan, Gedeo Cultural Landscape in Ethiopia,
Cultural Landscape of Old Tea Forests of the Jingmai Mountain in China’s Pu’er.

About ICOMOS

International Council on Monuments and Sites (ICOMOS) is a France-based international non-governmental organization.

About UNESCO

Headquarters: Paris, France
Founded: 16 November 1945, London, United Kingdom
Head: Audrey Azoulay;

Recent News

In may 2023, Niloofar Hamedi, Elaheh Mohammadi and Narges Mohammadi were named as the laureates of the 2023 UNESCO/Guillermo Cano World Press Freedom Prize, following the recommendation of an International Jury of media professionals.
In April 2023, Union Culture Minister G Kishan Reddy said Santiniketan, the place where Nobel Laureate poet Rabindranath Tagore built Visva-Bharati over a century ago, has been recommended for inclusion in the UNESCO World Heritage List by an international advisory body.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Kingdom commits $2 billion to Green Climate Fund

The United Kingdom (UK) has pledged $2 billion to the Green Climate Fund (GCF) in the wake of G20 leaders’ commitment to addressing climate change and ensuring developed nations contribute to climate funds for developing countries.
This commitment is regarded as one of the largest funding pledges made by the UK to combat climate change.
The commitment follows the UK Prime Minister’s announcement at Conference of the Parties (COP27) that the UK would triple its funding for climate adaptation.

Key Highlights :

The UK will contribute £1.62 billion, which is equivalent to $2 billion, to the GCF.
The GCF was established by 194 countries following the Copenhagen Accord at COP15.
The GCF is the world’s largest global fund dedicated to supporting developing nations in reducing global emissions and helping communities adapt to the impacts of climate change.
The $2 billion commitment represents a 12.7% increase in the UK’s previous contribution to the GCF for the period from 2020 to 2023.
This earlier contribution itself was a doubling of their initial funding to establish the fund in 2014.
The United Kingdom also highlighted that it has reduced emissions at a faster rate than any other G7 country.
Additionally, low-carbon energy sources now account for more than half of the UK’s electricity generation.
Since 2011, UK climate aid spending has aided over 95 million people in coping with climate change effects and has reduced or avoided over 68 million tonnes of greenhouse gas emissions.

About UK :

Prime Minister: Rishi Sunak
Capital: London
Currency: Pound sterling

Myanmar not allowed to chair 2026 Association of Southeast Asian Nations (ASEAN) meet

Southeast Asian leaders decided that Myanmar would not chair the Association of Southeast Asian Nations (ASEAN) 2026 meeting due to military seizure of power in the country.

About ASEAN Summit :

ASEAN Summit is the highest policy-making body in ASEAN comprising the Heads of State of ASEAN Member States.
ASEAN Summit meetings are held twice annually, determined by the Chair of the ASEAN Summit in consultation with other member States.
The hosting of the ASEAN Summit rotates among member states, with the ASEAN Member State holding the ASEAN Chairmanship hosting the event.
The first ASEAN Summit was held in Bali, Indonesia, in 1976.

About ASEAN :

Established : 8 August 1967 in Bangkok, Thailand, with the signing of the ASEAN Declaration (Bangkok Declaration).
Headquarters : Jakarta, Indonesia
Secretary General : Kao Kim Hourn
ASEAN is a political and economic union of 10 member states in Southeast Asia.
Founders: Indonesia, Malaysia, Philippines, Singapore and Thailand.
The other members are Brunei, Vietnam, Lao PDR (People’s Democratic Republic), Myanmar, and Cambodia.

10th Session of Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services Plenary Takes Place in Bonn, Germany

The 10th session of the Plenary of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) is being held in Bonn, Germany, from August 28 to 2 September, 2023.

What is IPBES?

The IPBES is an independent inter-governmental body established by States to strengthen the science-policy interface for biodiversity and ecosystem services for the conservation and sustainable use of biodiversity, long-term human well-being and sustainable development.
IPBES was established on April 21, 2012, in Panama City, with the participation of 94 governments.
India is one of the founding members of IPBES.
It is not a United Nations body.
However, the United Nations Environment Programme (UNEP) provides secretariat services to IPBES
The IPBES has released its new publication – the “Assessment Report on Invasive Alien Species and their Control’’.
Approved in Bonn, Germany, by representatives of the 143 member States of IPBES, the Assessment Report analyses the impact of alien species on biodiversity.
The study, which has taken place over a period of 4 years, has been done by 86 leading experts from 49 countries, drawing on more than 13,000 references.
There are 37,000 alien species, including plants and animals, that have been introduced by many human activities to regions and biomes around the world.
More than 3,500 out of the 37,000 introduced alien species pose major global threats to nature, economy, food security and human health.
Most countries (80%) have included targets related to managing invasive alien species in their national biodiversity plans.
Only 17% specifically address the issue in national legislation. Nearly half of all countries (45%) do not invest in management of biological invasions.
In December 2022, governments agreed to reduce the rate of introduction and establishment of invasive alien species by at least 50% by 2030 under target 6 of the Kunming-Montreal Global Biodiversity Framework.
The 9th session of the Plenary of IPBES 9 was held in Bonn, Germany, from 3 to 9 July 2022.

About Germany :

President : Frank-Walter Steinmeier
Capital : Berlin
Currency : Euro

UNESCO Releases Inaugural Guidance on the Application of Artificial Intelligence (GenAI) in Education

The United Nations Educational, Scientific and Cultural Organization (UNESCO) has published its 1st guidance on the use of Generative AI (GenAI) in education, emphasising the importance of regulating this technology.
UNESCO calls on governmental agencies to regulate the use of GenAI in education.
This includes measures to protect data privacy and the implementation of an age limit for users.

Key Highlights :

The guidance highlights the emergence of GenAI chatbots like ChatGPT, launched by Microsoft-backed OpenAI in November.
These chatbots have gained significant popularity and have prompted the development of rival systems, such as Google’s Bard.
Students have also taken a liking for GenAI, which can generate anything from essays to mathematical calculations with just a few lines of prompts.
Among a series of guidelines in a 64-page report, UNESCO stressed on the need for government-sanctioned AI curricula for school education, in technical and vocational education and training.
It also sets an age limit of 13 for the use of AI tools in the classroom and calls for teacher training on this subject.
While some countries like China have already formulated rules on GenAI, the European Union’s AI Act is expected to be approved later in 2023.
However, many other countries are still in the process of drafting their own AI laws.

About UNESCO:

Established : 16 November 1945
Headquarters : Paris, France
Director General : Audrey Azoulay
Parent Organisation : United Nations Economic and Social Council
UNESCO is a specialised agency of the United Nations (UN) aimed at promoting world peace and security through international cooperation in education, arts, sciences and culture.

World Bank & UNICEF Assessment Reveals 52 Million Children in Extreme Poverty in India

The World Bank and the United Nations International Children’s Emergency Fund (UNICEF) conducted an assessment called “Global Trends in Child Monetary Poverty According to International Poverty Lines.”
According to the assessment, India has approximately 52 million children living in extreme poverty.
The report highlights that every second person living in extreme poverty globally is a child.

Key Highlights :

A new global poverty line was adopted in mid-September 2022, with the World Bank updating data on its Poverty and Inequality Platform.
The extreme poor population worldwide is living below the international poverty line of $2.15 (approximately Rs 178.38).
In 2022, children accounted for 5% of the total global extreme poor population.
The assessment indicates that the majority of poor children are concentrated in two regions: sub-Saharan Africa and South Asia.
Sub-Saharan Africa has the highest rate of children living in poverty, with 40% of children in the region facing extreme poverty.
South Asia follows with 9.7% of children living in poverty.
These two regions, sub-Saharan Africa and South Asia, together account for 90% of the world’s extremely poor children.
The assessment reveals that in 2020, the onset year of the pandemic, child poverty increased, breaking the trend of consistent decline.
Among children, the highest poverty rate is observed in the 0-5 year age group.
In this age group, approximately 18.3%, equivalent to 99 million children, lived in extremely poor households.
According to the assessment, 5% of children in India live in extremely poor households.

About World Bank :

Established : July 7, 1944
Headquarters : Washington, D.C., United States
President : Ajay Banga

About UNICEF :

Established : 1946
Headquarters : New York, United States of America
Executive Director : Catherine M. Russell

CURRENT AFFAIRS : STATE NEWS

Goa CM Pramod Sawant Unveils Initiatives to Empower Homemakers and Entrepreneurs

The Griha Adhar scheme has been launched to empower the homemakers of Goa.
Goa Chief Minister Shri Pramod Sawant distributed Griha Adhar sanction orders to numerous beneficiaries.
The initiative is organised by the Directorate of Women and Child Development with the aim of providing financial support to homemakers to enhance their quality of life and promote their independence.

Key Highlights :

He also launched the Chavath e Bazaar, an initiative to empower entrepreneurs and self-help groups in Goa.
Chavath e Bazaar is an online portal integrated with the Swiggy app, providing a seamless ordering experience.
Griha Adhar has had a substantial impact in the state of Goa, with 11,500 newly sanctioned orders disbursed to beneficiaries.
Under the Swayampurna Goa 2.0 initiative, free-of-cost training will be provided to women at their respective panchayats.

About Goa :

Governor : P. S. Sreedharan Pillai
Chief Minister : Pramod Sawant
Capital : Panaji
Airports : Dabolim Airport, Manohar International Airport

Haryana Chief Minister Manohar Lal Khattar launches ‘e-Bhoomi’ Portal for land purchase

Haryana Chief Minister Shri Manohar Lal Khattar launched the e-Bhoomi portal with an aim to simplify the land purchase process for government projects with the consent of landowners.
The government aims at purchasing land in a transparent manner with the consent of the landowners.

About e-Bhoomi portal :

The offer of land on the new portal would be valid for 6 months.
Farmers can offer their land independently or through listed aggregators.
A minimum offer of 10 acres has been made mandatory for voluntary offers made by aggregators.

Other Launches :

No-Litigation Policy-2023 Portal :

Khattar also inaugurated the ‘No-Litigation Policy-2023 portal’ to resolve land acquisition issues from 2011 for the expansion of the Industrial Model Township (IMT) Manesar.
The policy addresses land-related issues in villages of Kasan, Kukrola, and Sahrawan in Manesar Tehsil, Gurugram
It aims to extend benefits to landowners whose names are recorded in the revenue estate of these villages as of the date of awards declared in award no. 1, 2, and 3 on August 16, 2022.

HMJIS Portal :

He launched the HMJIS portal to combat illegal mining in Haryana, replacing the previously launched e-Ravana portal.

OBC Certificate Service via Parivar Pehchan Patra (PPP) :

The Haryana government introduced the issuance of Other Backward Classes (OBC) certificates through the Parivar Pehchan Patra (PPP) system.
Citizens can now download their OBC certificates online via the Citizen Saral Portal.
Eligibility for OBC certificates is confirmed based on data available in the OBC category within the PPP.
A total of 397 schemes and services are linked to the PPP.

‘Mukhyamantri Shehri Awas Yojana Portal’ :

He also unveiled the portal for the Mukhyamantri Shehri Awas Yojana, an initiative aimed at providing housing to economically weaker sections.
The scheme includes the construction of flats in Panchkula, Gurugram, Sonipat, and Faridabad, while other cities would offer both plot and flat options.
The scheme would be implemented by the Haryana Shehri Vikas Pradhikaran, ensuring the provision of essential amenities in the housing colonies.

Compensation for Farmers :

The Haryana government announced compensation of ₹7,000 per acre for farmers who had to replant paddy due to heavy rains and floods in July 2023.
An e-Kshatipoorti portal was launched to handle issues related to property, livestock, or human loss due to natural disasters like rains, floods, and riots.

About Haryana :

Governor : Bandaru Dattatreya
Chief Minister : Manohar Lal Khattar
Capital : Chandigarh
Wildlife Sanctuaries : Kalesar Wildlife Sanctuary, Bir Shikargah Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

Direct Tax collections register over 23.5 % growth in current financial year so far

India’s direct tax collection recorded over eight lakh 65 thousand crore rupees (till mid-September of this financial year) which is 23.51 per cent higher than the corresponding period of last year.
The Direct Tax collection for the last financial year stood at seven lakh 416 crore rupees.
The Gross Direct Tax collections have also witnessed robust growth of 18.29 per cent so far this financial year with over nine lakh 87 thousand crore rupees.
In the last financial year, over eight lakh 34 thousand crore rupees gross direct tax collections were recorded.
Meanwhile, the Advance Tax collections for this financial year stood at three lakh 55 thousand crore rupees with a growth of 20.73 per cent.
The Advance Tax collections for the corresponding period were recorded at two lakh 94 thousand 433 crore rupees.
According to the Ministry of Finance, refunds amounting to one lakh 21 thousand crore rupees have also been issued so far.

Goods exports decline 6.8% in August to $34.48 billion, but ‘green shoots visible’

India’s goods exports decreased 6.8% in August to $34.48 billion.
India’s goods exports declined for the seventh consecutive month in August 2023 (year-on-year).
Sectors such as petroleum products, gems and jewelry, readymade garments, and chemicals contributed to decline in goods exports.
However, half of the top thirty export items, including engineering, electronics, pharmaceuticals, and some agriculture goods have shown growth during August 2023.
India’s imports in August 2023 have declined 5.23% to $58.64 billion.
Imports of petroleum, coal and coke, pearls, precious and semi-precious stones, and fertilizers have fallen as per the quick estimates released by the Commerce and Industry Ministry on 15 September 2023.
Trade deficit in August 2023 was at a ten-month high level of $24.16 billion.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Khadi and Village Industries Commission signs three MoUs to promote Khadi Products

Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises inked 3 separate MoUs, and laid the foundation stone of ‘Modern Khadi of New India’ in the Amritkal of Independent India.
In presence of Shri Manoj Kumar, Chairman, Khadi & Village Industries Commission these agreements were signed with Prasar Bharati, NBCC (India) Limited, and Digital India Corporation.
The objective of these MoUs is to prepare a roadmap to modernize the Khadi and Village Industries Commission and popularize its products among the youth as per the vision of the Prime Minister Shri Narendra Modi.

Key Highlights

On this occasion, Shri Kumar distributed a margin money subsidy of Rs 150 crore to the beneficiaries under the Prime Minister’s Employment Generation Programme.
According to the MoU signed with Prasar Bharati, very soon the anchors of DD News and DD International channels will be seen in Khadi apparels.
Shri Kumar reiterated that under the leadership of Prime Minister Shri Narendra Modi, Khadi has now become identity self-reliant India.
In such a scenario, this agreement with Prasar Bharati will prove to be a milestone in making Khadi popular among the youth.
Along with this, NBCC (India) Limited will build new modern infrastructure for Khadi and Village Industries Commission across the country and to focus on keeping KVIC up-to-date with the latest technology, KVIC has joined hands with Digital India Corporation.

Attendees:

The MoUs were signed by Shri Sanjay Prasad, Deputy Director General of Prasar Bharati and Shri Sanjeev Poswal, Director Publicity of KVIC. Shri Pradeep Sharma, Chief General Manager of NBCC (India) Ltd. and by Shri Rajan Babu, Deputy Chief Executive Officer, Estate & Services of KVIC and Shri Debarat Nayak, Chief Technical Officer of Digital India Corporation and Shri Rajan Babu, Deputy Chief Executive Officer, Information Technology of KVIC.

Recent News

In April 2023 Under Chairman of the Khadi and Village Industries Commission (KVIC) Shri Manoj Kumar, Gram Vikas Yojana Distribution program was organized in Nanpur village of GarhMukteshwar tehsil, Hapur, Uttar Pradesh.
In May 2023, The Khadi and Village Industries Commission (KVIC) played an important role in conserving and reviving the Handmade Paper-making art of Tawang, Arunachal Pradesh

About KVIC :

Founded : 1957
Headquarters : Mumbai, Maharashtra
Chairman : Manoj Kumar
KVIC is a statutory body formed in April 1957 by the Government of India (GoI), under the Act of Parliament, ‘Khadi and Village Industries Commission Act of 1956’.
It is an apex organization under the Ministry of Micro, Small and Medium Enterprises

Odisha Govt of Odisha signs MoU with Gopalpur Port for expansion

The Odisha government signed an MoU with Gopalpur Port for further development and expansion of the facility in Ganjam district.
The Odisha government handed over more than 119 acres of land to Gopalpur Port after the signing of the Mou.
The MoU was signed by the Director Ports and Inland Waterway Transport, Commerce and Transport department, Padmalochan Rou and CEO, of Gopalpur Port Private Limited in the presence of Commerce and Transport minister Tukuni Sahu.
The Gopalpur Port was operated by the Odisha government as a seasonal lighterage Port from 1986-87.
The Port was awarded to Gopalpur Ports Private Limited for transforming it into an all-weather direct berthing port in PPP mode.

About Odisha :

Governor : Ganeshi Lal
Chief Minister : Naveen Patnaik
Capital : Bhubaneswar
National Park : Simlipal National Park, Bhitarkanika National Park
Wildlife Sanctuary : Ushakothi Wildlife Sanctuary, Tikarpada Wildlife Sanctuary

Recent News

In June 2023, The Government of Odisha & the Quality Council of India (QCI), in collaboration with industry associations – Associated Chambers of Commerce and Industry of India (ASSOCHAM), Federation of Indian Chambers of Commerce & Industry (FICCI), Engineering Exports Promotion Council (EEPC),Odisha Assembly of Small and Medium Enterprises (OASME), PHD Chamber of Commerce and Industry (PHDCCI), Central Institute of Petrochemicals Engineering & Technology (CIPET), Federation of Hotel and Restaurant Association of India (FHRAI) – launched the Odisha Gunvatta Sankalp (Odisha Quality Mission) at Bhubaneswar, Odisha.

CURRENT AFFAIRS: RANKING AND INDEX

Infosys only Indian firm in TIME’s top 100 World’s Best Companies of 2023

IT major Infosys is the only Indian company to feature in the top 100 list of the World’s Best Companies of 2023 released by TIME Magazine and online data platform Statista.
Microsoft, Apple, and Alphabet (Google owner) are top 3 in the list while India’s Infosys was ranked 64th with an overall score of 88.38 out of 100.
Sustainability-wise, Infosys was ranked 135th while in terms of employee satisfaction the company’s rank was 103rd.

Key Highlights

As per TIME Magazine, the growth rate of the company has been high.
Infosys was among the top 3 professional services companies in the world.
Microsoft, Apple, Alphabet (the company that owns Google) and Meta Platforms (formerly Facebook) were the top four companies in a new statistical ranking of 750 of the world’s best companies by Statista and TIME, which are based on a formula of revenue growth, employee satisfaction surveys, and rigorous environmental, social, and corporate governance (ESG, or sustainability) data.
In the list of 750 companies, 7 companies were also listed apart from Infosys. Big Tech major Wipro was on 174th rank in the list while Anand Mahindra-led Mahindra Group was on 210th rank.
Reliance Industries was at 248th rank, HCL Technologies at 262nd rank, HDFC Bank at 418th rank, WNS Global Services at 596th rank, and finally ITC at 672nd rank.
Microsoft, the top company in the global rankings, made $72 billion in its most recent fiscal year, a 63% increase from 2020, while also reducing overall emissions by 0.5%.
Time is an American news magazine based in New York City.

About Infosys :

Founded : 2 July 1981
Headquarters : Bangalore, Karnataka, India
MD & CEO : Salil Parekh
Infosys Limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services.

Recent News

In May 2023, IT major Infosys Ltd launched a platform called ‘Infosys Topaz’ for generative artificial intelligence (AI).

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

UAE’s Etihad Airways Appoints Actress Katrina Kaif as Brand Ambassador

Etihad Airways, the national airline of the United Arab Emirates (UAE), has appointed Bollywood actress Katrina Kaif as its brand ambassador.
This marks the 2nd collaboration between Etihad Airways and Katrina Kaif in more than a decade.
Katrina Kaif, as the brand ambassador for Etihad, will be featured in a series of creative and engaging campaign videos to promote the airline.
Etihad Airways currently operates flights from 8 major Indian cities, which highlights its significant presence in the Indian market.
The new partnership with Katrina Kaif builds on a previous collaboration in 2010 when she was featured as a discerning traveller, showcasing Etihad’s travel experience.

About Etihad Airways :

Founded : July 2003 (Commenced operations : November 2003)
Headquarters : Abu Dhabi, United Arab Emirates
Chairman : Mohammed Ali Al Shorafa
CEO : Antonoaldo Neves

Senior Diplomat Santosh Jha Appointed as India’s High Commissioner To Sri Lanka

Santosh Jha, a senior diplomat, has been appointed as the next High Commissioner of India to Sri Lanka.
He succeeds Gopal Baglay, who has been named as the High Commissioner of India to Australia.
Ambassador Santosh Jha assumed his current role as Ambassador of India to Belgium, Luxembourg, and the European Union on July 17, 2020.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Acquisition Council (DAC) Approves Proposals Worth Rs 45,000 Crore, Including Purchase of 12 Su-30MKIs for Indian Air Force (IAF)

The Defence Acquisition Council (DAC) chaired by Defence Minister Shri Rajnath Singh, approved a total of 9 acquisition proposals totalling Rs 45,000 crore for the Indian Armed forces , including procurement of 12 Su-30MKIs for the Indian Air Force (IAF).
These acquisitions are intended to strengthen the capabilities of the Indian Armed Forces.

Key Highlights :

12 Su-30MKIs for the Indian Air Force (IAF) would be manufactured in India by Hindustan Aeronautics Limited (HAL).
Su-30MKIs will be equipped with more than 60% indigenous content.
These will be the most modern Su-30 MKI aircraft of the IAF.
The IAF will also get an upgraded version of the Dornier aircraft to improve the accuracy and reliability of operations.
Dhruvastra Short Range Air-to-Surface Missile will be used in indigenously built ALH Mk-IV choppers.
DAC approved proposals for the procurement of Light Armoured Multipurpose Vehicles (LAMV) and Integrated Surveillance and Targeting Systems (ISAT-S).
The DAC also approved the procurement of Next Generation Survey Vessels for the Indian Navy.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Razorpay acquires digital invoicing & customer engagement startup BillMe

Razorpay, a fintech platform based in Bengaluru, has acquired BillMe, a Mumbai-based digital invoicing and customer engagement startup.

Objective of the Partnership :

To enable businesses to enhance their engagement with end consumers through a hybrid model.
This acquisition marks the 8th acquisition by Razorpay.
It is notably the first acquisition since Razorpay entered the omnichannel payments sector with the acquisition of Ezetap, an end-to-end digital payments company, in August 2022.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Sahasra Electronic to Introduce India’s First Locally Manufactured Desktop Motherboard

Sahasra Electronic Solutions, based in Noida,Uttar Pradesh (UP) is part of the Sahasra Group and is gearing up to introduce the first Made-in-India computer motherboard to the market in November, 2023.
The motherboard, which will be designed around the latest Intel 13th generation chipset, is currently undergoing trials.

Key Highlights :

Sahasra Semiconductor, a part of Sahasra Group, is part of the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).
This makes them eligible for a 25% financial incentive on their capital expenditure.
Sahasra’s Made-in-India motherboards are expected to be priced 10-15% lower than comparable Chinese brands that are currently imported by Indian companies.
This move aligns with the Indian government’s efforts to promote domestic manufacturing of electronic hardware and increase local value addition in the electronics supply chain.
Chairman and Managing Director of Sahasra Group : Amrit Manwani.

Daily CA One- Liner: September 20

The government has introduced the Women’s Reservation Bill in the Lok Sabha.
The 10th meeting of the India-Malaysia Joint Sub-Committee on Defence Science, Technology and Industry Cooperation was held in New Delhi.
Prime Minister Narendra Modi launched the PM Vishwakarma scheme in New Delhi on the occasion of Vishwakarma Jayanti.
During the 45th session of the World Heritage Committee, the decision to include Santiniketan in the list was taken.
India’s direct tax collection recorded over eight lakh 65 thousand crore rupees (till mid-September of this financial year) which is 23.51 per cent higher than the corresponding period of last year.
India’s goods exports decreased 6.8% in August to $34.48 billion.
Khadi and Village Industries Commission (KVIC), Ministry of Micro, Small and Medium Enterprises inked three separate MoUs, and laid the foundation stone of ‘Modern Khadi of New India’ in the Amritkal of Independent India.
The Odisha government signed an MoU with Gopalpur Port for further development and expansion of the facility in Ganjam district.
IT major Infosys is the only Indian company to feature in the top 100 list of the World’s Best Companies of 2023 released by TIME Magazine and online data platform Statista.
Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has signed a significant Memorandum of Understanding (MoU) with Bank of Maharashtra (BoM).
The Insurance Regulatory and Development Authority of India (IRDAI) has formed a standing committee on cyber security.
Ujjivan Small Finance Bank (Ujjivan SFB), a leading small finance bank, has introduced the Maxima Savings Account and Business Maxima Current Account for the premium customer segment.
Gullak, a prominent fintech app, has become the first to implement Juspay’s UPI plugin SDK called “HyperUPI.”
The United Kingdom (UK) has pledged $2 billion to the Green Climate Fund (GCF) in the wake of G20 leaders’ commitment to addressing climate change and ensuring developed nations contribute to climate funds for developing countries.
Southeast Asian leaders decided that Myanmar would not chair the Association of Southeast Asian Nations (ASEAN) 2026 meeting due to military seizure of power in the country.
The 10th session of the Plenary of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES) is being held in Bonn, Germany, from August 28 to 2 September, 2023.
The United Nations Educational, Scientific and Cultural Organization (UNESCO) has published its 1st guidance on the use of Generative AI (GenAI) in education, emphasising the importance of regulating this technology.
The World Bank and the United Nations International Children’s Emergency Fund (UNICEF) conducted an assessment called “Global Trends in Child Monetary Poverty According to International Poverty Lines.”
The Griha Adhar scheme has been launched to empower the homemakers of Goa.
Haryana Chief Minister Shri Manohar Lal Khattar launched the e-Bhoomi portal with an aim to simplify the land purchase process for government projects with the consent of landowners.
Etihad Airways, the national airline of the United Arab Emirates (UAE), has appointed Bollywood actress Katrina Kaif as its brand ambassador.
Santosh Jha, a senior diplomat, has been appointed as the next High Commissioner of India to Sri Lanka.
The renowned aviation and travel veteran Sanjiv Kapoor has been appointed as the new Chief Executive Officer (CEO) of Flyadeal Airlines, a low-cost carrier (LCC) based in Saudi Arabia.
Senior nuclear scientist Vivek Bhasin has assumed the role of the 14th Director of Bhabha Atomic Research Centre (BARC).
The Defence Acquisition Council (DAC) chaired by Defence Minister Shri Rajnath Singh, approved a total of 9 acquisition proposals totalling Rs 45,000 crore for the Indian Armed forces , including procurement of 12 Su-30MKIs for the Indian Air Force (IAF).
The Indian Navy Ship (INS) Sumedha participated in Exercise Bright Star-23 with multiple other navies in the Mediterranean Sea.
Defence Minister Shri Rajnath Singh has dedicated to the nation 90 infrastructure projects of Border Roads Organisation (BRO), worth over Rs 2,900 crore ($350 Million), spread across 11 States/Union Territories.
Razorpay, a fintech platform based in Bengaluru, has acquired BillMe, a Mumbai-based digital invoicing and customer engagement startup.
Sahasra Electronic Solutions, based in Noida,Uttar Pradesh (UP) is part of the Sahasra Group and is gearing up to introduce the first Made-in-India computer motherboard to the market in November, 2023.

Excellence by Saikat Sir

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Daily Current Affairs September 20 2023 | Latest News

CURRENT AFFAIRS : BANKING & FINANCE

CURRENT AFFAIRS: NATIONAL NEWS

CURRENT AFFAIRS : INTERNATIONAL NEWS

CURRENT AFFAIRS : STATE NEWS

CURRENT AFFAIRS: BUSINESS NEWS

CURRENT AFFAIRS: MOUS AND AGREEMENT

CURRENT AFFAIRS: RANKING AND INDEX

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

CURRENT AFFAIRS : DEFENCE NEWS

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

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