Daily Current Affairs – August 17, 2023
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Daily Current Affairs - Banking - August 17, 2023
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State News
India’s first common testing centre for drones will be set up in Tamil Nadu
- The country’s first common testing centre for unmanned aerial systems (drones) will be established at an outlay of Rs 45 crore in Tamil Nadu.
- Under the Defence Testing Infrastructure Scheme (DTIS), the facility will come up over 2.3 acres at the SIPCOT industrial park in Vallam Vadagal near Sriperumbudur.
- Tamil Nadu Industrial Development Corporation (TIDCO) is the nodal agency for implementing the Tamil Nadu Defence Industrial Corridor (TNDIC).
- As part of implementing the TNDIC, the state government has adopted a multi-pronged strategy.
- One of them is the creation of an enabling ecosystem, including common testing centres for the aerospace and defence industry.
- The absence of test centres supporting the aerospace and defence standards outside defence public sector undertakings or Defence Research and Development Organisation (DRDO) is an entry barrier for many organisations.
- TIDCO planned to lower this barrier by establishing test centres for multiple sub-domains, including unmanned aerial systems (UAS).
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
President Droupadi Murmu launched Addiction Free Bengal Campaign in Kolkata
- President Droupadi Murmu launched ‘My Bengal, Addiction Free Bengal’ Campaign under the ‘Nasha Mukt Bharat Abhiyan’, organized by Brahma Kumaris at Raj Bhavan, Kolkata.
- West Bengal – Kolkata (Capital) – Mamata Banerjee (CM) – C. V. Ananda Bose (Governor) – Bengali & English (Language)
Meghalaya Chief Minister inaugurated 'Travellers Nest'
- Meghalaya Chief Minister Conrad K Sangma inaugurated the ”The Travellers Nest” at Kyiem village in Mawphlang in East Khasi Hills to cater to visitors to the sacred groves.
- The Travellers Nest, a prefab structure, has five cottages and a restaurant to cater to the need of visitors and is located 28km south of the state capital.
- Meghalaya – Shillong (Capital) – Conrad Sangma (CM) – Phagu Chauhan (Governor) – English (Language)
Maharashtra Chief Minister launched a mobile app & WhatsApp helpline for Chief Minister's Medical Assistance Fund
- Maharashtra Chief Minister Eknath Shinde launched a mobile app and WhatsApp helpline for the Chief Minister’s Medical Assistance Fund.
- A helpline number 8650567567 has been started for patients and their relatives.
- Also, the fifth edition of the medical aid manual and the book ‘Rokhthok’ based on the ideology of Balasaheb Thackeray was launched.
- Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)
Goa Government will give free IVF treatment in govt hospital
- Goa has become the first Indian state to offer free in vitro fertilization (IVF) treatment.
- The inauguration of this service, alongside assisted reproductive technology (ART) and intrauterine insemination (IUI), was done by Chief Minister Pramod Sawant at the Goa Medical College (GMC) in Bambolim.
- Depending on the hospital and the kind of IVF treatment, the cost of IVF in India comes between Rs 70,000 to Rs 3 lakh per cycle.
- The service is already receiving a good response, with approximately 100 parents registering with GMC to access the IVF facility located within its super-speciality block.
- Goa – Panaji (Capital)– Pramod Sawant (CM) – PS Sreedharan Pillai (Governor) – Konkani (Language)
Schemes
Vidhayak Ksetra Vikas Nidhi Yojana
- Himachal Pradesh state government has decided to relax the provisions of the Vidhayak Ksetra Vikas Nidhi Yojana (VKVNY) during the financial year 2023-24 by including protection works of retaining walls/breast walls and channelisation of nullahs under it.
- This decision was taken in view of heavy losses caused to human lives besides public and private properties during heavy rain.
- Vidhayak Kshetra Vikas Nidhi Yojana launched in the year 1999-2000 by Himachal Pradesh government.
- Himachal Pradesh – Shimla (Summer), Dharamshala (Winter) (Capital) – Sukhvinder Singh Sukhu (CM) – Shiv Pratap Shukla (Governor) –Hindi (Language)
PM Vishwakarma scheme
- The Union Cabinet approved the PM Vishwakarma scheme with an outlay of Rs. 13,000 crores for five years.
- The scheme will benefit about three million families of traditional artisans and craftspeople, including weavers, goldsmiths, blacksmiths, laundry workers, and barbers.
- The government will provide credit support of up to Rs. 1 lakh (first tranche) and Rs. 2 lakh (second tranche) at an interest rate of 5 per cent.
- Artisans and craftsmen will also be paid a stipend of Rs. 500 per day for skill upgradation, and Rs. 15,000 for procuring modern tools.
- The scheme aims to improve the quality and reach of products and services of artisans and craftsmen and to ensure that Vishwakarmas (artisans) get integrated with the domestic and global value chains.
Banking and Finance
IndusInd Bank Launched Multi-Branded Credit Card in Partnership with Qatar Airways and British Airways
- IndusInd Bank in partnership with British Airways Executive Club and Qatar Airways Privilege Club has launched a first-of-its-kind multi-branded credit card – ‘IndusInd Bank Avios Visa Infinite Credit Card’ for all customers.
- The credit card aims to offer best-in-class rewards and benefits to customers, across travel, wellness and lifestyle experiences.
- The card is available in a sleek ‘metal card’ variant, tailored to meet the needs of our valued customers.
- IndusInd Bank Limited – April 1994 (Founded) – Mumbai (HQ) – Sumant Kathpalia (MD & CEO) – “We Make You Feel Richer” (Tagline)
Axis Bank launched two products with RBI Innovation Hub to extend lending
- Axis Bank announced the launch of two lending products powered by the Public Tech Platform for Frictionless Credit (PTPFC), introduced by the Reserve Bank Innovation Hub (RBIH).
- Both products will be offered in a completely digital manner and require no submission of documents by customers.
- The Bank will offer Kisan Credit Card (KCC) and unsecured micro, small and medium enterprises (MSME) loans to customers powered by the platform.
- As part of the pilot, Axis Bank will leverage the PTPFC to access customer data.
- These include PAN validation, Aadhaar eKYC, account aggregator data, verification of land records and penny drop service to validate bank accounts.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
Light Microfinance had partnered with IppoPay to offer digital loans to MSMEs
- Light Microfinance had partnered Chennai-based fintech firm IppoPay to power digital lending to micro, small and medium enterprises (MSMEs) in rural and semi-urban micro-markets of Tamil Nadu, Andhra Pradesh, Telangana and Karnataka.
- They will offer payments solutions to about 400,000 merchants.
Digit Insurance partnered with Vetina to offer pet insurance plan for dogs
- Go Digit General Insurance, a digital full stack insurer, has partnered with Vetina Healthcare LLP, an animal healthcare solutions provider, to extend pet insurance coverage for dogs.
- They will extend 4 distinct coverages like dog’s vet expenses, specific illnesses, critical illnesses and any third-party liability to Vetina family members.
- The premium will start for as low as ₹1,879 for a sum Insured of ₹40,000.
- Notably India has 6th largest pet dogs population in the world with 34 per cent of pet owners adopting dogs as pets.
Lawrencedale Agro Processing India (LEAF) & Andhra Pradesh State Co-operative Bank Ltd (APCOB) tied up to support marginalised farmers
- Ooty-based agri-technology company Lawrencedale Agro Processing India (LEAF) had joined hands with Andhra Pradesh State Co-operative Bank Ltd (APCOB) to promote sustainable livelihoods for marginalised farmers in Andhra Pradesh.
- Besides helping farmers assess soil health, decide on the right inputs, and improve the carbon content of soil through scientific regenerative farming techniques, LEAF works with farmers to prepare an appropriate financial mechanism plan.
- They them leverage satellite data, coupled with artificial intelligence and machine learning, to monitor the crops well and also help them find markets to sell their produce.
- The entire process is driven by a big data technology platform.
Reserve Bank of India will Reset Floating Rate Loans
- Reserve Bank of India (RBI) has announced a transparent framework will be introduced to reset interest rates on floating-interest loans such as home loans.
- All regulated entities will implement a proper conduct framework to address the issues faced by borrowers and detailed guidelines in this regard will be issued shortly.
- In a floating-rate home loan, the interest rate is not fixed and keeps varying over the tenure of the loan.
- The interest rate depends on market dynamics and is linked to a benchmark rate.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Business and Economy
Wipro launched GenAI centre of excellence in collaboration with Institute of Technology Delhi
- IT giant Wipro has inaugurated a new centre of excellence (CoE) focused on generative artificial intelligence (GenAI), in collaboration with the Indian Institute of Technology (IIT) Delhi.
- This partnership aligns with Wipro’s pledge to invest $1 billion in propelling AI-led innovation, forming part of the Wipro ai360 ecosystem.
- Situated within the Yardi School of Artificial Intelligence at IIT Delhi, the Wipro CoE on GenAI will bolster foundational and applied research, cultivate talent, and advance the field’s state of the art.
- Serving as a hub for research and development, the CoE will unite Wipro researchers with IIT Delhi’s faculty members and graduate students, focusing on real-world problems on a large scale.
- Teams at the Wipro CoE will collaborate to develop pioneering solutions utilising AI, machine learning, and related technologies.
- Wipro – 29/12/1945 (Founded) – Bengaluru (HQ) – Rishad Premji (Chairman)
Agreements and MoUs signed
Memorandum of Understanding (MoU) was signed between India and Trinidad and Tobago on sharing INDIA STACK
- India and Trinidad and Tobago have signed a Memorandum of Understanding (MoU) on sharing INDIA STACK a collection of open APIs and digital public goods that aim to facilitate identity, data, and payment services on a large scale.
- Both sides agreed to cooperate in the areas of digital transformation by means of capacity building, training programmes, exchange of best practices, exchange of public officials and experts, development of pilot or demo solutions, etc.
- India has already signed MoUs with countries namely Armenia, Sierra Leone, Suriname, Papua New Guinea and Antigua & Barbuda to share India Stack while many countries like Mauritius, Saudi Arabia have shown interest and are at an advanced stage of finalizing cooperation on IndiaStack.
- Republic of Trinidad and Tobago – Port of Spain (Capital) – Trinidad and Tobago dollar (Currency) – Christine Kangaloo (President) – Keith Rowley (Prime Minister) – English (Language)
Science and Technology
Union Health launched Digital portals for healthcare
- Union Health and Family Welfare Minister Mansukh Mandaviya launched the ‘The Advantage Health Care India – One Stop Digital Portal For Patient’ and ‘Workforce Mobility’ at One Earth One Health Advantage Healthcare India event at Gandhinagar, Gujarat.
- These platforms enable patients to access medical healthcare services via telemedicine, ensuring healthcare reaches even the most remote and underserved areas.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra), Satya Pal Singh Baghel ,Minister of State (Agra,UP)
Appointments
Parminder Chopra became first woman to lead Power Finance Corporation
- Parminder Chopra became the first woman to lead Power Finance Corporation Limited (PFC) as Chairman and Managing Director (CMD).
- Previously, she was holding the additional charge of Chairman and Managing Director (CMD) since June 1, 2023 and was Director (Finance), PFC since July 1, 2020.
- Power Finance Corporation Ltd (PFC) – July 1986 (Founded) – New Delhi (HQ) – Parminder Chopra (Chairman & MD)
Obituary
DRDO Director General Dr. V.S. Arunachalam Passed away
- Dr V S Arunachalam, founder chairman of Bengaluru based think tank Center for Science, Technology and Policy (CSTEP), passed away at 87.
- He was the first DRDO scientist to lead the organisation and hold the position of Scientific Adviser for a decade from 1982 to 1992.
- During his tenure, he initiated three significant programs: Light Combat Aircraft (LCA) through the autonomous Aeronautical Development Agency (ADA); the Advanced Technology Vessel (ATV) Program; and the Integrated Guided Missiles Development Programme (IGMDP), aimed at creating a range of strategic and tactical guided missiles.
- He received the Shanti Swarup Bhatnagar Award in 1980, followed by the Padma Bhushan in 1985, and the Padma Vibhushan in 1990 and also honoured with the DRDO’s Lifetime Achievement Award in 2015.
- Defence Research and Development Organisation (DRDO) – 1958 (Founded) – New Delhi (HQ) – Dr Sameer V Kamath (Chairman)
Defence
Boeing started production of Indian Army's Apache choppers
- Boeing started production of the Apache choppers and will deliver six AH-64E Apaches to the Indian Army by 2024.
- The AH-64 Apache is one of the world’s most advanced multi-role combat helicopters and is flown by the U.S. Army.
- Earlier this year, Tata Boeing Aerospace Limited (TBAL) delivered the Indian Army’s first AH-64 Apache fuselage from its advanced facility in Hyderabad.
- In 2020, Boeing completed delivery of 22 E-model Apaches to the Indian Air Force and signed a contract to produce six AH-64Es for the Indian Army.
- Tata Boeing Aerospace Limited – 2015 (Founded) – Chicago, USA (HQ) – Maya Swaminathan Sinha (Director)
Border Roads Organisation commenced construction of world's highest motorable road in Eastern Ladakh
- Border Roads Organisation (BRO) has commenced the construction of the 64 km world’s highest motorable road that connect Likaru to Fukche which is situated three kilometre away from the Line of Actual Control (LAC) in Eastern Ladakh located at an altitude of 19,400 feet.
- The approximately coast of the project will be Rs 520 crore.
- Presently, the Umlingla pass at the height of 19,024 feet, is the world’s highest motorable pass, constructed by BRO in the year 2021.
- Border Roads Organisation (BRO) – 07/05/1960 (Founded) – New Delhi (HQ) – Lt. Gen. Rajeev Chaudhary (Director General)
Daily Current Affairs - August 17, 2023 - Consolidated
- India’s first common testing centre for drones will be set up in Tamil Nadu
- President Droupadi Murmu launched Addiction Free Bengal Campaign in Kolkata
- Meghalaya Chief Minister inaugurated ‘Travellers Nest’
- Maharashtra Chief Minister launched a mobile app & WhatsApp helpline for Chief Minister’s Medical Assistance Fund
- Goa Government will give free IVF treatment in govt hospital
- Vidhayak Ksetra Vikas Nidhi Yojana
- PM Vishwakarma scheme
- IndusInd Bank Launched Multi-Branded Credit Card in Partnership with Qatar Airways and British Airways
- Axis Bank launched two products with RBI Innovation Hub to extend lending
- Light Microfinance had partnered with IppoPay to offer digital loans to MSMEs
- Digit Insurance partnered with Vetina to offer pet insurance plan for dogs
- Lawrencedale Agro Processing India (LEAF) & Andhra Pradesh State Co-operative Bank Ltd (APCOB) tied up to support marginalised farmers
- Reserve Bank of India will Reset Floating Rate Loans
- Wipro launched GenAI centre of excellence in collaboration with Institute of Technology Delhi
- Memorandum of Understanding (MoU) was signed between India and Trinidad and Tobago on sharing INDIA STACK
- Union Health launched Digital portals for healthcare
- Parminder Chopra became first woman to lead Power Finance Corporation
- DRDO Director General Dr. V.S. Arunachalam Passed away
- Boeing started production of Indian Army’s Apache choppers
- Border Roads Organisation commenced construction of world’s highest motorable road in Eastern Ladakh
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