Daily Current Affairs – August 09, 2023
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Daily Current Affairs - Banking - August 09, 2023
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National News
PM Narendra Modi Launches ‘Bhartiya Vastra evam Shilp Kosh’ E-Portal
- Prime Minister Narendra Modi launched the e-portal of ‘Bhartiya Vastra evam Shilp Kosh’ a Repository of Textiles and Crafts developed by the National Institute of Fashion Technology (NIFT).
- The programme was attended by over 3000 handloom and khadi weavers, artisans, and stakeholders from the textile and MSME sectors.
- It brought together handloom clusters across India, NIFT campuses, Weaver Service Centres, Indian Institute of Handloom Technology campuses, National Handloom Development Corporation, Handloom Export Promotion Council, KVIC institutions, and various State Handloom Departments.
International News
India & Uzbekistan enhancing cooperation in trade, defence partnership
- India and Uzbekistan conducted their 16th India-Uzbekistan Foreign Office Consultations (FOC) in Tashkent.
- The two sides discussed a range of bilateral issues, with connectivity and enhancing cooperation within the framework of the India-Central Asia partnership taking centre stage.
- The meeting was co-chaired by Sanjay Verma, Secretary (West), MEA, and Bakhromjon Aloyev, Deputy Foreign Minister of Uzbekistan.
- Further, MEA Secretary (West) called on the Foreign Minister of Uzbekistan, Bakhtiyor Saidov.
- The two sides also stressed the need to further strategize the India-Uzbekistan economic and defence partnership.
- Secretary (West), along with Director of Uzbekistan Post Alisher Faizullayev, jointly released a commemorative postal stamp on India’s Azadi Ka Amrit Mahotsav.
- Uzbekistan – Tashkent (Capital) – Uzbek sum (Currency) – Shavkat Mirziyoyev (President) – Abdulla Aripov (Prime Minister) – Uzbek (Language)
India to support clean water project at school in Tuvalu with $700,000
- India will be providing support worth $700,000 from the India-UN Development Partnership Fund to the project in Tuvalu to store and provide clean water in school.
- Notably, ‘Motufoua Secondary School’ is Tuvalu’s only public school.
- The proposed concrete water cistern, with a capacity of 760 metric cubes will store and provide clean water to students, teachers and school staff promoting hygiene and reducing water-borne diseases.
- In May this year, Prime Minister Narendra Modi announced the “Sagar Amrut Scholarship” scheme for the Pacific Island countries, at the Summit of the Forum for India-Pacific Islands Cooperation.
- Tuvalu – Funafuti (Capital) – Riel (Currency) – Charles III (Monarch) – Kausea Natano (Prime Minister) – Tuvaluan & English (Language)
India, Vietnam hold 5th Joint Trade Sub-Commission meeting
- India and Vietnam, held the fifth meeting of Joint Trade Sub-Commission (JTSC) in New Delhi, where the two countries discussed the challenges in logistics that affect their bilateral trade.
- The two nations concurred on the importance of addressing these challenges and expressed a mutual interest in exploring solutions such as direct shipping services, collaborative freight movement, and improving air connectivity.
- The meeting was held after a gap of more than four years since 4th JTSC meeting held in January 2019.
- During the meeting, India and Vietnam reviewed the progress on bilateral trade and economic cooperation.
- The two nations identified potential sectors such as agriculture, fisheries, textiles, footwear, pharmaceuticals, chemicals, fertilizers, machinery and equipment, consumer products, energy and automobile industry to expand trade cooperation.
- The two sides also agreed to work together to resolve market access issues and technical barriers faced by the exporters through regular and sustained bilateral discussions.
- Vietnam – Hanoi (Capital) – Vietnamese dong (Currency) – Nguyễn Phú Trọng (General Secretary) – Phạm Minh Chính (Prime Minister) – Võ Văn Thưởng (President) – Vietnamese (Language)
State News
Rajouri Chikri woodcraft, Mushqbudji rice secure GI Tags in Jammu-Kashmir
- An air of jubilation and local pride permeates the picturesque landscapes of Jammu and Kashmir’s Rajouri and Anantnag districts as their prized creations—the Rajouri Chikri woodcraft and the Mushqbudji variety of rice have been bestowed with Geographical Indication (GI) tags.
- This momentous recognition, the fruit of a painstaking legal process, shines a spotlight on the exceptional quality and distinctive attributes of these regional gems.
- The prized Mushqbudji rice, characterized by its short, bold grains and aromatic essence, thrives amidst the elevated haven of Kashmir, particularly flourishing within the enchanting confines of the Anantnag district.
- This symphony of flavours and fragrances, uniquely orchestrated by the region’s climatic and soil idiosyncrasies, transforms every meal into a culinary masterpiece, capturing the very soul of the land.
- Department of Handicrafts and Handloom proudly proclaims the GI tag bestowed upon the Rajouri district’s Chikri woodcraft.
- With its delicate, honey-hued countenance and supple, fine-grained wood, Chikri wood finds its habitat in the scenic hill ranges of the Jammu province.
- Craftsmanship derived from this wood is renowned for its meticulous detailing and intricate carvings—a true embodiment of the region’s artisanal finesse.
- The significance of a Geographical Indication tag surpasses a mere emblem.
- It symbolizes an intellectual property right.
- This emblem safeguards the origin of products, inextricably interwoven with the distinct qualities, nature, and characteristics indigenous to that region.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
Gujarat CM launches ‘Meri Mati Mera Desh’ campaign for state
- On the occasion of World Tribal Day, Gujarat Chief Minister Bhupendra Patel launched the state-wide ‘Meri Mati Mera Desh’ campaign to honour those bravehearts who had laid their lives for the country.
- In July, Prime Minister Narendra Modi announced that such a campaign would be launched in the run-up to Independence Day to honour the martyred bravehearts.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
MP government introduces policy for rapid expansion of 5G network
- Madhya Pradesh has introduced a policy for the rapid expansion of 5G network in the state and laid emphasis on speeding up the process of granting government approvals for the expansion of such services by telecom and internet service providers.
- A provision been made in the 5G policy that if telecom and internet service providers and companies developing the infrastructure do not get government approval within the stipulated time, then it will be deemed approved.
- The policy will lead to rapid expansion of the 5G network in the next six months, especially in urban areas.
- Madhya Pradesh – Bhopal (Capital) – Shivraj Singh Chouhan (CM) – Mangubhai C. Patel (Governor) – Hindi (Language)
Schemes
Sub-Mission on Agricultural Mechanization Scheme (SMAM)
- Ministry of Agriculture and Farmers Welfare launched SMAM in 2014-15.
- Under it, subsidy is provided for purchase of various types of agricultural equipment and machinery to the extent of 40-50% for States other than NER (North Eastern Region) States and for NER States it is 100% limited to 1.25 lakhs per beneficiary.
- The Centre has provided 23 lakh agricultural machinery and equipment to farmers under SMAM.
- Under the scheme, 15,23,650 agricultural machinery and equipment have been provided to the farmers.
- These include tractors, power tillers, combine harvesters, self-propelled machineries, tractor/power tiller driven equipment, agricultural drones and plant protection equipments, etc.
- 43,954 custom hiring centres/hi-tech hubs/farm machinery banks have been established.
- Agricultural mechanisation in India leads to saving in seed (15-20 per cent), saving in fertilizer (15-20 per cent), saving in time (20-30 per cent), reduction in weed (20-40 per cent), reduction in labour (20-30 per cent), improvement in germination rate (7-25 per cent), increase in cropping intensity (5-20 per cent), and increase in crop yield (13-23 per cent).
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
YSR Kalyanamasthu, Shaadi Tohfa schemes
- Andhra Pradesh Chief Minister Y S Jagan Mohan Reddy disbursed Rs 142 crore financial assistance to 18,883 newly married eligible couples under YSR Kalyanamasthu and YSR Shaadi Tohfa schemes.
- YSR Kalyanamasthu is aimed at enabling eligible poor parents from SC, ST, BC, minority, differently-abled and construction workers sections to respectfully marry off their daughters while YSR Shaadi Tohfa is for the similar purpose in the Muslim community.
- The schemes which offers financial assistance between Rs 40,000 and Rs 1.5 lakh under various categories.
- Bride and bridegroom must pass 10th standard to be eligible and cross 18 and 21 years of age respectively, and the money will be credited into the girl’s mother’s bank account.
- As many as 35,551 couples were given Rs 267 crore through this scheme so far.
- Every year, it will be implemented in four phases.
Banking and Finance
RBI imposes monetary penalty on 4 co-operative banks for rule violations
- The Reserve Bank of India (RBI) imposed monetary penalties on four co-operative banks for violating rules.
- These banks are Shri Vinayak Sahakari Bank, Shreeji Bhatia Cooperative Bank, Mizoram Urban Cooperative Development Bank and Vita Urban Co-operative Bank.
- The central bank imposed Rs 1.50 lakh each on Vita Urban Co-operative Bank and Shri Vinayak Sahakari Bank, Rs 1 lakh on Shreeji Bhatia Cooperative Bank, and Rs 20,000 on Mizoram Urban Cooperative Development Bank.
- The RBI imposed a monetary penalty on Mizoram Urban Cooperative Development Bank as it granted fresh loans and advances carrying risk weights of more than 100 percent in violation of specific directions issued under SAF and failed to put in place a system of periodic review of risk categorisation of accounts.
- A monetary penalty was imposed on Shri Vinayak Sahakari Bank as the bank breached the prudential inter-bank (counterparty) exposure limit.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Business and Economy
Toy exports up 60% to $326 million from FY19-FY23
- India’s toy exports increased 60 per cent from $203.46 million in 2018-19 to $325.72 million in 2022-23.
- Import on the other hand dipped 57 per cent from $371.69 million in 2018-19 to $158.70 million in 2022-23.
- The total number of industries registered under the ministry from January 1991 to July 31, 2023 is 1,10,525.
Agreements and MoUs signed
RAI signs MoU with FaMeTN to support MSME trades
- The Retailers Association of India (RAI) signed a Memorandum of Understanding (MoU) with the Facilitating MSMEs Tamil Nadu (FaMeTN).
- Under the MoU, RAI will play a key role in the development of Retail Policy in the State, collaborating extensively with FaMeTN to support the retail industry and MSMEs.
- RAI will facilitate important discussions between FaMeTN and member retail MSMEs, helping to understand their needs regarding like skill development, branding and marketing, capital and compliance.
- FaMeTN is committed to empowering MSMEs in Tamil Nadu, as they form the backbone of our economy.
- This MoU with RAI is a substantial step towards streamlining the process of understanding and addressing the varied needs of our MSMEs.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Science and Technology
IISc team makes indigenous industrial-grade autopilot system for drones
- Artificial Intelligence and Robotics Laboratory (AIRL) at the Indian Institute of Science (IISc) Bangalore has made a significant achievement in the field of unmanned aerial systems.
- The team at AIRL, led by Professor Suresh Sundaram, Associate Professor at the Department of Aerospace Engineering, has successfully developed an indigenous industrial-grade autopilot system for drones.
- The team, comprising researchers Nishanth Rao and Varun CR from AIRL, envisions this achievement as the initial step towards the indigenisation of avionics systems for drones in India.
Power
India succeeds in reducing emissions rate by 33% over 14 years
- India’s greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy generation rose and forest cover increased.
- The report’s findings showed India well on the way to meeting a commitment to the United Nations Convention on Climate Change (UNFCCC), to reduce emissions intensity by 45% from the 2005 level by 2030.
- India’s rate of emissions intensity – the total amount of greenhouse gas emissions emitted for every unit increase of gross domestic product (GDP) – fell by 33% from 2005 to 2019.
- Many countries are preparing their TNC reports to update the UNFCCC on their efforts to mitigate emissions.
- India’s average rate of reduction in emissions increased to 3% annually in the period 2016-2019, from just about 5% in the period 2014-2016.
- United Nations Framework Convention on Climate Change (UNFCCC) – 21/03/1994 (Founded) – Bonn, Germany (secretariat) – Simon Stiell (Executive Secretary)
Ranks and Indices
Telangana bags first place in India in recovery of lost, stolen mobile phones using CEIR portal
- Telangana state has secured the first position in the country in recovery of lost and stolen mobile devices using Central Equipment Identity Register (CEIR) portal.
- With 5,038 mobile devices recovered and a recovery rate of 98 per cent, Telangana stands first in the list of recovery of lost and stolen mobile devices using CEIR portal, followed by Karnataka (54.20 per cent) and Andhra Pradesh (50.90 per cent).
- CEIR portal, developed by Department of Telecommunications (DoT) to curb the menace of mobile theft and counterfeit mobile devices, was officially launched nationwide on May 17, 2023 and was started on pilot basis in Telangana from April 19, 2023 and in Karnataka in September 2022.
- Ministry of Communications – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Devusinh Chauhan, Minister of State (Kheda,Gujarat)
Obituary
Malayalam director Siddique passes away
- Popular Malayalam filmmaker Siddique passed away at 68.
- Starting their directorial journey as the ‘Siddique-Lal’ duo, they marked their debut with the timeless comedy Ramji Rao Speaking (1989), which was funded by Fazil.
- This kickstarted a series of remarkable successes in Malayalam cinema history, including iconic films like In Harihar Nagar (1990), Godfather (1991), Vietnam Colony (1992), Kabooliwala (1993), and Hitler (1996).
Important Days
International Day of the World's Indigenous Peoples
- The International Day of the World’s Indigenous Peoples is observed on 9 August each year to raise awareness and protect the rights of the world’s indigenous population.
- In December 1992 the General Assembly of the United Nations adopted a resolution to make 1993 the International Year of the World’s Indigenous Peoples.
- The International Day of the World’s Indigenous Peoples is to be marked annually on August 9, according to a decision made by the UN General Assembly in December 1994.
- The day was picked in honour of the 1982 Geneva-based Working Group on Indigenous Populations of the UN Sub-Commission on the Promotion and Protection of Human Rights inaugural meeting, which served as the inspiration for the date.
- Theme – Indigenous Youth as Agents of Change for Self-determination.
- United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)
Nagasaki Day 2023
- Japan’s Nagasaki marked the 78th anniversary of the US atomic bombing.
- On August 9, 1945, the United States dropped the second nuclear bomb named ‘Fat-man’ on the southern Japanese city.
- A US warplane named–Enola Gay dropped the ‘Fat Man’ about 1,650 feet above Nagasaki.
- Japan – Tokyo (Capital) – Japanese yen (Currency) – Naruhito (Emperor) – Fumio Kishida (Prime Minister) – Japanese (Language)
Defence
Indian Navy's Guided Destroyer INS Chennai Fortifies Naval Ties With Saudi Arabia
- Indian Navy’s indigenously designed and constructed guided missile destroyer INS Chennai Mission Deployed in the Red Sea Undertook Passage Exercise (Passex) with Royal Saudi Naval Ship HMS Al Jubail.
- Conducted off Jeddah, SaudiArabia the ‘Passex’ include tactical manoeuvres, seamanship evolutions and common drills.
- The visit will contribute to reinforcing mutual trust, cementing operational understanding and enhancing Interoperability between navies.
- The visit of INS Chennai was to boost defence co-operation between India and Saudi Arabia.
- During the port call, the Commanding Officer, INS Chennai called on the Commander of Jeddah Border Guards.
- Mohd Shahid Alam, Consulate General of India in Jeddah, also visited the ship and was given a brief on the operational capabilities.
- Saudi Arabia – Riyadh (Capital) – Saudi riyal (Currency) – Salman (King) – Mohammed bin Salman (Crown Prince & Prime Minister) – Arabic (Language)
Daily Current Affairs - August 09, 2023 - Consolidated
- PM Narendra Modi Launches ‘Bhartiya Vastra evam Shilp Kosh’ E-Portal
- India & Uzbekistan enhancing cooperation in trade, defence partnership
- India to support clean water project at school in Tuvalu with $700,000
- India, Vietnam hold 5th Joint Trade Sub-Commission meeting
- Rajouri Chikri woodcraft, Mushqbudji rice secure GI Tags in Jammu-Kashmir
- Gujarat CM launches ‘Meri Mati Mera Desh’ campaign for state
- MP government introduces policy for rapid expansion of 5G network
- Sub-Mission on Agricultural Mechanization Scheme (SMAM)
- YSR Kalyanamasthu, Shaadi Tohfa schemes
- RBI imposes monetary penalty on 4 co-operative banks for rule violations
- Toy exports up 60% to $326 million from FY19-FY23
- RAI signs MoU with FaMeTN to support MSME trades
- IISc team makes indigenous industrial-grade autopilot system for drones
- India succeeds in reducing emissions rate by 33% over 14 years
- Telangana bags first place in India in recovery of lost, stolen mobile phones using CEIR portal
- Malayalam director Siddique passes away
- International Day of the World’s Indigenous Peoples
- Nagasaki Day 2023
- Indian Navy’s Guided Destroyer INS Chennai Fortifies Naval Ties With Saudi Arabia
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