Daily Current Affairs – August 06 & 07, 2023
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Daily Current Affairs - Banking - August 06 & 07, 2023
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National News
PM Modi launched Rs 24k crore project to revamp 508 railway stations
- Prime Minister Narendra Modi laid the foundation stone for the redevelopment of 508 railway stations in the country.
- The stations are being redeveloped at a cost of Rs 24,470 crore to increase passenger capacity, improve employment generation, and act as city centres.
- According to the ministry of railways, the 508 stations are spread across 27 states and union territories, including 55 each in Uttar Pradesh and Rajasthan, 49 in Bihar, 44 in Maharashtra, 37 in West Bengal, 34 in Madhya Pradesh, 32 in Assam, 25 in Odisha, 22 in Punjab, 21 each in Gujarat and Telangana, 20 in Jharkhand, 18 each in Andhra Pradesh and Tamil Nadu, 15 in Haryana and 13 in Karnataka, among others.
- The redevelopment will provide modern passenger amenities along with ensuring well-designed traffic circulation, inter-modal integration and signage for the guidance of passengers.
- The design of the station buildings will be inspired by local culture, heritage and architecture.
- Ministry of Railways – Ashwini Vaishnaw,Union Minister (Rajya Sabha MP,Odisha) – Raosaheb Danve,Minister of State (Jalna,Maharashtra) Darshana Jardosh,Minister of State (Surat,Gujarat)
Cabinet approved Rs 1.3 trillion Bharatnet package
- The Union Cabinet approved Rs. 1.3 trillion ($17 billion) worth of investments to drive the next stage of the government’s ambitious Bharatnet project which aims to provide every Indian village with fixed-line broadband connectivity a top official from the Department of Telecommunications (DoT).
- The Cabinet meeting also saw the adoption of a new operational model to drive the next stage of the project, which aims to cover 674,000 villages under 250,000 gram panchayats nationwide within the next two months.
- In August 2020, the government announced that every village in the country would be connected via Optical Fibre Cables to provide at least 100 MBps bandwidth of the internet.
- The current coverage stands at 194,000 villages connected with 584,000 km of fibre optic cables laid so far.
- Ministry of Communications and Information Technology – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Devusinh Chauhan, Minister of State (Kheda, Gujarat)
International News
Construction work of Indian Buddhist Culture and Heritage Centre begins in Lumbini, Nepal
- In Nepal, the construction work of the Indian Buddhist Culture and Heritage Centre has begun in Lumbini after Bhumi Pujan ceremony with special recitation by Buddhist monks.
- The 1.60 billion rupees heritage Centre is expected to be lotus shaped which will be built in zero-net technology and may be completed in one and a half years.
- Prime Minister Narendra Modi and the then Prime Minister of Nepal, Sher Bahadur Deuba, had jointly laid the foundation stone during Mr. Modi’s Lumbini visit in 2022.
- Nepal – Kathmandu (Capital) – Nepalese rupee (Currency) – Ram Chandra Poudel (President) – Pushpa Kamal Dahal (Prime Minister) – Nepali (Language)
State News
Nagaland roll out first phase of Intensified Mission Indradhanush (IMI) 5.0 immunization drive
- Nagaland has rolled out the first phase of Intensified Mission Indradhanush (IMI) 5.0 immunisation drive with special emphasis targeting partially vaccinated or drop out children and pregnant women.
- Principal Director of Health & Family Welfare department Nagaland Dr. Vibeituonuo M Sachu officially launched the IMI 5.0 at Seikhazou Urban Primary Health Centre Kohima.
- The vaccination is taking place in 209 sessions site in all health centres of the districts, targeting 1155 children in 0-2 years, 730 in 2-5 years and 179 pregnant women.
- IMI 5.0 is being conducted in three phase.
- The first round will end on 12th August.
- The Second phase will commence from 11 to 16 September, followed by the third round from October 9 to 14.
- Nagaland – Kohima (Capital) – Neiphiu Rio (CM) – La. Ganesan (Governor) – English (Language)
Schemes
One District One Product (ODOP) scheme
- Government of Gujarat has implemented One District One Product (ODOP) scheme with a grant of 58 crores rupees to promote its indigenous products at the international level.
- The Gujarat State Handicrafts and Handicrafts Development Corporation (GSHHDC) has started the implementation of this scheme.
- Under this scheme, more than 25 handicraft products and those from the handicrafts sector have been selected from 21 districts of the state, including traditional handicrafts like Gamthi Block Print and Mata-ni-Pachhedi.
- The ODOP initiative is aimed at fostering balanced regional development across all districts of the country, enabling holistic socio-economic growth across all regions.
- The objective is to focus on the District of the country as a unit for converting into a manufacturing and export hub by identifying products with export potential in the district.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Swadesh Darshan Scheme
- The government launched ‘Swadesh Darshan Scheme’ (SDS) in the year 2014-15 for integrated development of Theme-Based Tourist Circuits in the country and there are 08 projects of identified thematic circuits in Uttar Pradesh.
- The Ministry of Tourism has identified ‘Prayagraj’ and ‘Naimisharanya’ in Uttar Pradesh as destinations for development under ‘Swadesh Darshan 2.0 (SD2.0) with the objective to develop sustainable and responsible tourism destinations.
- Uttar Pradesh – Lucknow (Capital) – Yogi Adityanath (CM) – Anandiben Patel (Governor) – Hindi (Language)
Banking and Finance
Bajaj Finance partners with new partner ICICI Lombard General Insurance to offer motor insurance policies
- Bajaj Finance has partnered with ICICI Lombard General Insurance along with other partners to provide car and two-wheeler insurance plans on the platform Bajaj Finance Insurance Mall.
- These policies can be bought instantly on the platform through an all-digital and seamless customer experience journey.
- The ICICI Lombard Car and Two-wheeler Insurance policies offer comprehensive damage coverage, including third-party cover and various add-on benefits to vehicle owners.
- These policies provide extensive coverage against various risks and damages to vehicles.
- Here are some of the key features and benefits offered by ICICI Lombard two-wheeler and car insurance policies: Offers comprehensive coverage: Get complete coverage for the insured vehicle as well as for the third party.
- Offers own damage cover: These policies cover damages caused to the insured vehicle by accidents, thefts, natural calamities and fire.
- Offers third-party cover: Get financial coverage for third-party liabilities.
- In case the policyholder is at fault and causes damages to third-party property or injures the person, the policy will cover all the incurred expenses.
- It will compensate the third party on behalf of the policyholder for the repair cost or medical expenses, if any.
- Offers personal accident cover: This cover provides financial support in case of an accident resulting in injuries or death of the owner/driver. Get a personal accident cover up to Rs. 15 lakh.
Business and Economy
Finance Ministry imposes anti-dumping duty on optical fibre imports from China, Korea, Indonesia
- The Finance Ministry has imposed a definitive anti-dumping duty on certain optical fibre imports from China, South Korea and Indonesia to give some relief to the domestic optical fibre industry reeling under the adverse impact of low-price and low-quality imports.
- Based on the recommendations of the Directorate General of Trade Remedies (DGTR), the revenue department has imposed an anti-dumping duty on dispersion unshifted Single-Mode Optical Fiber (SMOF) imports from China, South Korea and Indonesia.
- The anti-dumping duty ranges from $122 per kfkm to $857.23 per kfkm, with the commodity being traded in fkm (fibre kilometres).
- This definitive anti-dumping duty will be valid for five years.
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
Science and Technology
Union Minister Amit Shah launches digital portal of Central Registrar of Cooperative Societies in Pune
- Union Minister of Cooperation Amit Shah launched the digital portal of the Central Registrar of Cooperative Societies in Pune.
- The digital portal would be useful in promoting cooperative-based economic progress, as well as strengthening the cooperative movement in the country.
Power
Apraava Energy inks pacts with REC, PFC to get Rs 9,120 crores finance for its projects
- Energy solution provider Apraava Energy has inked initial pacts with state-owned firms REC Ltd and Power Finance Corporation (PFC) to get finance of Rs 9,120 crore for funding its wind, transmission, and advanced metering projects in the country.
- The signing of MoUs took place as part of the Green Finance Summit organised by REC on the sidelines of the Green Business Summit Clean Energy Ministerial (CEM) and Energy Transition Working Group (ETWG) Ministerial held on July 21, 2023 in Goa against the backdrop of India’s G20 Presidency.
Acquisitions and Mergers
Vijay Shekhar Sharma to buy a 10.3% stake in Paytm from Antfin for $628 million
- Vijay Shekhar Sharma, founder and chief executive officer (CEO) of Paytm’s parent One97 Communications, has agreed to purchase a 10.3 per cent stake in the fintech firm from Antfin (Netherlands) Holding BV.
- Sharma will acquire the stake in Paytm via his 100 per cent owned overseas entity Resilient Asset Management.
- The agreement will scale up Sharma’s shareholding in Paytm to 19.42 per cent, making him the largest shareholder in the company.
- In contrast, Antfin’s shareholding will reduce to 13.5 per cent.
- Currently, Antfin holds a 23.79 per cent stake in Paytm.
- Paytm (pay through mobile) – August 2010 (Founded) – Noida,UP (HQ) -Vijay Shekhar Sharma (CEO)
Appointments
Sanjay Kumar Agarwal takes charge as CBIC Chairman
- IRS officer Sanjay Kumar Agarwal has taken charge as the Chairman of the Central Board of Indirect Taxes and Customs (CBIC).
- Agarwal succeeds Vivek Johri who superannuated as CBIC chief on May 31.
Cambodian King Norodom Sihamoni appoints Hun Manet- as the new Prime Minister
- Cambodia’s King Norodom Sihamoni has appointed former Prime minister Hun Sen’s son Hun Manet as the new prime minister of the country.
- A royal decree was issued by the King stating that he appoints Dr. Hun Manet as the prime minister of the Kingdom of Cambodia for the 7th mandate of the parliament.
- Former PM Hun Sen announced that he will be stepping down as the Prime Minister, after assuming office in 1998.
- Cambodia – Phnom Penh (Capital) – Riel (Currency) – Norodom Sihamoni (Monarch) – Hun Manet (Prime Minister) – Khmer (Language)
Ranks and Indices
HDFC Bank's Sashidhar Jagdishan is highest paid bank CEO in FY23
- Sashidhar Jagdishan, HDFC Bank’s Managing Director and Chief Executive, has emerged as the highest-paid bank chief executive in FY23, with a significant increase of more than 62% in his remuneration in fiscal year 2023, reaching ₹10.55 crore.
- Amitabh Chaudhry of Axis Bank was the second highest-paid bank CEO, with ₹9.75 crore as payout in FY23.
- Chaudhry was closely followed by Sandeep Bakhshi of ICICI Bank, who drew ₹9.60 crore for the fiscal year.
Obituary
Renowned folk singer and balladeer Gaddar dies at 77
Renowned folk singer and balladeer Gaddar (Gummadi Vittal Rao), who was popularly known for his revolutionary songs during the 1980s and later during the Telangana statehood agitation, passed away at 77.
Sports News
Prarthana Thombare clinches women's doubles title in Barcelona, Spain
- Prarthana Thombare has clinched the doubles title at the women’s tennis hardcourt event in Barcelona, Spain.
- The Asian Games bronze medallist, combined with Russian Anastasia Tikhonova, edged out France’s Estelle Cascino and Latvia’s Diana Marcinkevica in Final.
- It is the second title of the year and 26th overall for Prarthana, who bagged bronze with Sania Mirza in 2014 at Incheon.
Aditi Swami becomes 1st Indian to clinch individual World Title at World Archery Championships
- Aditi Swami created history by becoming the first-ever Indian to clinch the individual World Title at the World Archery Championships final in Berlin.
- Less than two months after clinching the junior world title, 17-year-old Aditi, became the senior world champion when she defeated Andrea Becerra of Mexico, in the summit clash of the compound women’s event.
- With the win, the Satara teenager became the first Indian world champion in an individual event at the Senior World Championships.
- India’s Ojas Deotale created history when he defeated Lukasz Przybylski of Poland 150-149 in a thrilling final to become the new world champion in Men’s Individual compound event.
132nd Durand Cup in Kokrajhar, Assam
- National Maritime Day is celebrated on April 5 across the country to commemorate the saili
- The 132nd edition of Durand Cup kicked off in Kokrajhar, Assam.
- Raksha Mantri Shri Rajnath Singh graced the opening ceremony, which marked the grand beginning of the annual football competition for the first time in the Assamese city.
- The tournament is organised by the Armed Forces and supported by the Government of Assam.
- The inaugural ceremony was followed by the opening match of the tournament between Bodoland FC and Rajasthan United FC.
- Kokrajhar will witness eight group matches and one quarter-final to be played on August 24, 2023.
- A total of 24 teams, including two foreign teams from Nepal and Bangladesh, all three teams of Indian Armed Forces and the local team of Bodoland FC will clash at three venues in Kolkata, Guwahati and Kokrajhar during the tournament.
- ng of the first Indian commercial vessel, SS Loyalty which sailed from Mumbai to London.
- The Ministry of Ports, Shipping and Waterways started this day in 1964.
- Edition – 60th
- Theme – “Amrit Kaal in Shipping” (‘Golden Era in Shipping’)
- Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)
Important Days
Hiroshima Day
- On August 6, 1945, during World War II, a U.S. B-29 Superfortress Enola Gay dropped an atomic bomb code-named “Little Boy” on Hiroshima, Japan, resulting in an estimated 140,000 deaths.
- It was flown by Paul Tibbets (23 February 1915 – 1 November 2007).
- This year marks 77th anniversary.
National Handloom Day
- National Handloom Day is observed on August 7.
- This day honours the handloom weavers and recognises their role in the country’s economy and culture.
- The handloom industry in India has a rich cultural heritage.
- The origin of National Handloom Day has its roots back in the Swadeshi Movement of 1905.
- National Handloom Day was established by the current Indian government in 2015.
- Theme – “Handlooms for Sustainable Fashion”
Daily Current Affairs - August 06 & 07, 2023 - Consolidated
- PM Modi launched Rs 24k crore project to revamp 508 railway stations
- Cabinet approved Rs 1.3 trillion Bharatnet package
- Construction work of Indian Buddhist Culture and Heritage Centre begins in Lumbini, Nepal
- Nagaland roll out first phase of Intensified Mission Indradhanush (IMI) 5.0 immunization drive
- One District One Product (ODOP) scheme
- Swadesh Darshan Scheme
- Bajaj Finance partners with new partner ICICI Lombard General Insurance to offer motor insurance policies
- Finance Ministry imposes anti-dumping duty on optical fibre imports from China, Korea, Indonesia
- Union Minister Amit Shah launches digital portal of Central Registrar of Cooperative Societies in Pune
- Apraava Energy inks pacts with REC, PFC to get Rs 9,120 crores finance for its projects
- Vijay Shekhar Sharma to buy a 10.3% stake in Paytm from Antfin for $628 million
- Sanjay Kumar Agarwal takes charge as CBIC Chairman
- Cambodian King Norodom Sihamoni appoints Hun Manet- as the new Prime Minister
- HDFC Bank’s Sashidhar Jagdishan is highest paid bank CEO in FY23
- Renowned folk singer and balladeer Gaddar dies at 77
- Prarthana Thombare clinches women’s doubles title in Barcelona, Spain
- Aditi Swami becomes 1st Indian to clinch individual World Title at World Archery Championships
- 132nd Durand Cup in Kokrajhar, Assam
- Hiroshima Day
- National Handloom Day
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