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Daily Current Affairs – August 20 & 21, 2023

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Daily Current Affairs - Banking - August 20 & 21, 2023

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National News

India prepares own carbon trading system and decarbonisation measures to counter European Union Carbon Border Adjustment Mechanism

  • India is eyeing setting up its own carbon trading system apart from bringing in a series of measures and norms that push high-emission industries towards decarbonisation in order to “mitigate impact” of the Carbon Border Adjustment Mechanism (CBAM) to be implemented by the EU from October 1 this year.
  • Measures include “hand-holding” across some industries, bringing in specific definitions and auditing standards apart from carrying out certification processes.
  • Ministry of Commerce & Industry and External Affairs, will take up issues that support India’s stand on CBAM across appropriate international fora.
  • Efforts will be towards keeping MSMEs out of the ambit.

Bharat New Car Assessment Programme (Bharat NCAP) was launched by Shri Nitin Gadkari

  • Union Minister of Road Transport and Highways, Shri Nitin Gadkari launched the much-awaited Bharat New Car Assessment Programme (Bharat NCAP).
  • This programme is a significant step forward in the Government’s commitment to improve road safety through raising the safety standards of motor vehicles up to 3.5 tonnes in India.
  • The programme aims to provide a tool to the car customers to make a comparative assessment of crash safety of motor vehicles available in the market. 
  • Under this programme, car manufacturers can voluntarily offer their cars tested as per Automotive Industry Standard (AIS) 197.
  • Based on the performance of the car in the tests, car will be awarded star ratings for Adult Occupants (AOP) and Child Occupant (COP).
  • Potential car customers can refer to these star ratings to compare the safety standards of different vehicles and accordingly make their purchase-decision.
  • It is expected that the demand for safer cars will increase, encouraging the car manufacturers to comply with customer needs.
  • With high safety standards, Indian cars will be able to compete better in the global market, increasing the export potential of the car manufacturers in India.
  • The programme is expected to develop a safety sensitive car market in India.
  • Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh

Three-day National Thematic Workshop on Localization of (LSDGs) Sustainable Development Goals in Panchayats

  • The Union Rural Development and Panchayati Raj Minister Shri Giriraj Singh inaugurated the ‘Three-day National Thematic Workshop on Localization of (LSDGs) Sustainable Development Goals in Panchayats’ at Srinagar.
  • The workshop was organised by Ministry of Panchayat Raj in collaboration with Panchayati Raj & Rural Development Department, Government of Jammu & Kashmir.
  • The main objective of the workshop is exhibiting the best strategies, approaches, convergent actions and innovative models in context to capacity building & training; best practices; monitoring framework, incentivization and reflection of themes of SDGs into Gram Panchayat Development Plan (GPDP).
  • The Minister also released ‘Meri Panchayat Mobile app’ developed by Ministry of Panchayati Raj and Meri Panchayat Mobile App, Operating Guidelines of NCBF, Service-level Benchmarks, Self-Assessments and Model Contract.
  • Ministry of Panchayati Raj – Giriraj Singh,Cabinet Minister (Begusarai,Bihar) – Kapil Moreshwar Patil, Minister of State (Bhiwandi,Maharashtra)

Department of Animal Husbandry & Dairying will receive 25 million USD grant under Pandemic Fund for strengthening Animal Health System of India

  • The G20 Pandemic Fund has approved the $25 million proposal submitted by the Department of Animal Husbandry & Dairying, Ministry of Fisheries, Animal Husbandry & Dairying (DAHD), on “Animal Health Security Strengthening in India for Pandemic Preparedness and Response”.
  • Established under Indonesia’s G20 Presidency, the Pandemic Fund finances critical investments to strengthen pandemic prevention, preparedness, and response capacities at national, regional, and global levels, focusing on low- and middle-income countries.
  • The Pandemic Fund received around 350 Expressions of Interest (EoI) and 180 full proposals in the first call with grant requests totalling more than $2.5 billion against an envelope of only $338 million.
  • The Pandemic Fund’s Governing Board has approved 19 grants under its first round of funding allocations aimed to boost resilience to future pandemics in 37 countries across six regions on 20th July 2023.
  • The major interventions under the proposal are strengthening and integrating disease surveillance and early warning system, upgrading, and expanding the laboratory network, improving the inter-operable data systems and building capacity for data analytics for risk analysis and risk communication, strengthening health security for transboundary animal diseases and India’s role in regional cooperation through cross border collaboration.
  • The Pandemic Fund will not only bring additional, dedicated resources for pandemic prevention, preparedness, and response.
  • It will also incentivize increased investments, enhance coordination among partners, and serve as a platform for advocacy.
  • The impact of the project would be to reduce the risk that a pathogen will emerge from animals (domesticated and wildlife) to be transmitted into the human population endangering the health, nutritional security, and livelihoods of vulnerable populations.
  • The project will be implemented in collaboration with the Asian Development Bank (ADB) as the lead implementing entity with The World Bank and the Food and Agriculture Organization (FAO).
  • Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)

State News

Rajasthan government approved Rs 700 crore for irrigation infrastructure upgrade

  • The Rajasthan government has approved around Rs 700 crore for strengthening the canal system and other related works in a bid to upgrade irrigation infrastructure in the state.
  • The projects include Rs 79.94 crore for water availability in Rajsamand Canal by increasing the capacity of the Khari feeder; Rs 17.60 crore for Narmada canal project’s Balore and Sanchore lift distributary system; Rs 8.05 crore for the tail minor of the Bhimguda distributary system; Rs 14.43 crore for the Ratoda distributary system minors; Rs 20.47 crore for the Manki distributary system and Rs 241.25 crore for strengthening the Parvati main canal in Baran district.
  • Meanwhile, Rs 123.53 crore has been approved for work at a filter plant near Bada Talab at Guda Vishnoiyan in Luni, Jodhpur.
  • This will strengthen the water distribution system, which will benefit 70 villages and 148 hamlets.
  • Along with this, the state government has okayed Rs 33.95 crore under the micro irrigation lift project to strengthen the irrigation system in Mohammadpur, Kaithudi and other villages in Baran district.
  • Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) –       Kalraj Mishra (Governor) – Hindi (Language)

Southeast Asia’s largest desalination plant in Tamil Nadu

  • The Tamil Nadu Chief Minister MK Stalin inaugurated Southeast Asia’s largest desalination plant a 400 MLD desalination plant to be executed by a joint venture led by Va Tech WABAG (WABAG) and Metito Overseas Ltd and Japan International Cooperation Agency (JICA) at a cost of ₹4,276 crores in Perur and project will be completed before December 2026.
  • The new desalination plant is expected to produce 400 million litres of potable drinking water every day.
  • Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)

Banking and Finance

YES Bank launched new mobile banking app 'iris'

  • Private lender YES Bank introduced its state-of-the-art mobile banking app ‘iris’.
  • The iris mobile banking app has a sleek and intuitive user interface with an eye on security and aims to offer a simplified banking experience to users of all age groups and backgrounds.
  • Designed to cater to both existing and new customers, the app offers access over 100 features and services in just a few clicks on a single platform.
  • The app is available on both Google Play Store and App Store and can be seamlessly downloaded on Android as well as iOS-based smartphones.
  • Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)

Advertising Standards Council of India (ASCI) said Finfluencers will require registration or licence from SEBI, IRDAI

  • Advertising Standards Council of India (ASCI) has tightened its guidelines for financial social media influencers also known as “finfluencers” to safeguard consumer interest.
  • ‘finfluencers’ can now offer investment-related advice only after being registered with the Securities and Exchange Board of India (SEBI).
  • They should prominently display their registration number alongside name and qualifications.
  • For other financial advice, influencers must possess appropriate credentials such as a licence from the Insurance Regulatory and Development Authority of India (IRDAI), be qualified as a chartered accountant, hold a company secretaryship, among others.
  • Moreover, they are expected to adhere to all disclosure prerequisites as stipulated by financial sector regulators from time to time.
  • ASCI has also revised its guidelines for influencers that endorse products that make claims on health and nutrition.
  • It has said that such influencers must hold relevant qualifications such as medical degrees or certification in nursing, nutrition, dietetics, physiotherapy or psychology.
  • Advertising Standards Council of India (ASCI) – 1985 (Founded) – Mumbai (HQ) – Manisha Kapoor (Secretary General)

SBI Life Insurance became the first Indian private life insurer to launch a 24X7 inbound contact centre to offer before and after sales services to consumers

  • SBI Life Insurance launched its dedicated 24X7 inbound contact centre to address before and after purchase queries related to comprehensive insurance solutions provided by the company.
  • The toll-free number is 18002679090.
  • It became the first private life insurance company in the country to have such an extensive customer care support, which aligns with the company’s commitment in enriching customer experience and addressing their insurance needs/queries at their convenience.
  • SBI Life’s 24X7 inbound contact centre is made available to both existing and prospective consumers, 365 days a year.
  • Through the 24X7 customer care support, the insurance company aims to redefine seamless accessibility and interaction with trained professionals.
  • The contact centre will provide technical assistance with products or answer customers’ questions about their purchases or experiences.
  • Having a readily available support team around the clock offers an avenue for customers to get their queries addressed as per their individual convenience, enhancing customer satisfaction.

Agreements and MoUs signed

NHAI signed a memorandum of understanding with GAIL to simplify infrastructure expansion process

  • National Highway Authority of India (NHAI) have signed a memorandum of understanding (MoU) with State-owned GAIL India to simplify their infrastructure expansion works, as the country-wide networks of highways and gas pipelines often end up getting in each other’s way amid complex permission and transactional procedures.
  • The MoU is aimed at expediting crossing permissions, standardising financial procedures, and establishing dispute-resolution mechanisms.
  • The agreement will be valid until 2026, and can be extended based on a mutual agreement between the two entities.
  • For easier crossing permissions and clearances, both NHAI and GAIL will be bound to issue no-objection certificates (NOC) within 60 days if one of them is building new assets over an area where the other entity already has projects.
  • Moreover, if no communication is made objecting to the proposed work within 60 days, the NOC will be deemed issued by default.
  • NHAI will also be expected not to levy charges on GAIL or its agencies for the laying of new natural gas, liquefied petroleum gas, and other hydrocarbon gas pipelines, which will be built along or across existing national highways.
  • Similarly, GAIL will not charge NHAI for building new highways over its existing pipelines.
  • Under the agreement, NHAI, when working on expansion or new highways, will bear the cost of building protective portals or shifting gas pipelines if the pipelines have been laid before the official declaration of the highway.
  • Vice versa, if the pipelines were laid after the declaration of a highway stretch, the cost of such a work will be borne by GAIL.
  • The company is also expected to obtain insurance cover from NHAI before allowing the construction of national highways over pipelines.
  • NHAI owns a national highway network of more than 144,000 km across the country.
  • GAIL owns and operates a network of around 14,617 km of natural gas pipelines with a capacity of 206 mmscmd (million metric standard cubic metres per day) spread across 19 states and three Union Territories.
  • National Highways Authority of India (NHAI) – 1995 (Founded) – New Delhi (HQ) -Santosh Kumar Yadav (Chairman)
  • GAIL (India) Limited (formerly known as Gas Authority of India Ltd.) – 1984 (Founded) – New Delhi (HQ) – Sandeep Kumar Gupta (Chairman & MD)

Nature

Dr Jitendra Singh unveiled new Lotus variety ‘Namoh 108’

  • Union Minister of State (Independent Charge) Science & Technology; MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Dr Jitendra Singh unveiled the new variety “Lotus” flower developed by Lucknow Institute CSIR-NBRI (National Botanical Research Institute) that has 108 petals.
  • The lotus named ‘NBRI Namoh 108’ is developed by the CSIR-National Botanical Research Institute (NBRI), a premier plant-based, multidisciplinary, state-of-the-art National R&D center based in Lucknow.
  • The Namoh 108 lotus variety flowers from March to December and is rich in nutrients.
  • This is the first lotus variety whose genome is completely sequenced for its characteristics.
  • He also released apparel made from lotus fibre and perfume ‘Frotus’, extracted from lotus flowers and developed by the NBRI under the Lotus Research Programme in collaboration with FFDC, Kannauj.

Power

National Green Hydrogen Mission

  • Ministry of New and Renewable Energy had issued the Green Hydrogen Standard for India in a significant move for the progress of the National Green Hydrogen Mission.
  • The standard outlines the emission thresholds that must be met in order for hydrogen produced to be classified as Green, that is from renewable sources.
  • The scope of the definition encompasses both electrolysis-based and biomass-based hydrogen production methods.
  • Ministry has decided to define Green Hydrogen as having a well-to-gate emission including water treatment, electrolysis, gas purification, drying and compression of hydrogen of not more than 2 kg CO2 equivalent / kg H2.
  • The Bureau of Energy Efficiency will be the Nodal Authority for accreditation of agencies for the monitoring, verification and certification for Green Hydrogen production projects.
  • Ministry of New and Renewable Energy – Raj Kumar Singh,Union Minister (Arrah, Bihar) – Bhagawanth,Minister of State (Bidar,Karnataka)

Appointments

Hindustan Oil Exploration Corporation (HOEC) new managing Director

  • The board of directors of Hindustan Oil Exploration Corporation (HOEC) announced that the company’s Executive Director and CFO, Ramasamy Jeevanandam, will be the Managing Director from October 1 by replacing Pandarinathan Elango, who will be retiring on September 30.

Sports News

Mascot duo for Men's Cricket World Cup 2023 was unveiled by International Cricket Council

  • International Cricket Council (ICC) had unveiled irresistible mascot duo for Men’s Cricket World Cup 2023 at an event in Gurugram in India in the presence of the captains of the reigning U19 World Cup Champions, Yash Dhull and Shafali Verma.
  • Originating from a distant cricket utopia called the Crictoverse, the male and female mascots represent distinct traits that stand as symbols of both gender equality and diversity.
  • With a turbo-powered arm propelling fireballs at lightning speed, the female character’s pinpoint accuracy leaves even the boldest batters in awe.
  • The male character exudes an unmistakable blend of sub-zero coolness and high-voltage batting prowess.
  • International Cricket Council (ICC) – 15/06/1909 (Founded) – Dubai (HQ) – Greg Barclay (Chairman) – 108 members

Anahat Singh clinched gold in Asian Junior Squash

  • The World Health Organisation (WHO) has released a new report that says one in six people worldwide are affected by infertility.
  • The 98-page report determines that around 17.5 per cent of adults worldwide are affected by infertility at some point, and found little variation between regions and wealthy and poorer countries.
  • The Guardian said in its report that the shocking figures are the global health body’s first estimates of infertility prevalence in more than a decade.
  • The report is based on the analysis of existing studies conducted from 1990 to 2021.
  • World Health Organization (WHO) – 07/04/1948 (Founded) – Geneva, Switzerland (HQ) – Tedros Adhanom (Director-General)

Important Days

Sadbhavana Diwas 2023

  • Sadbhavana Diwas is annually observed on August 20.
  • The day is dedicated to promoting national integration and peace among various communities in honour of then Prime Minister Rajiv Gandhi (6th Prime Minister).
  • He was born on August 20 1944 and this year marks the 79th birth anniversary.
  • He was the India’s youngest Prime Minister till date.
  • He was assassinated on 21 May 1991 in Sriperumbudur by Liberation Tigers of Tamil Eelam (LTTE).

World Mosquito Day 2023

  • World Mosquito Day is annually observed on August 20.
  • The day is celebrated to commemorate British Doctor Sir Ronald Ross found that female Anopheles mosquitoes transmit malaria between humans On August 20, 1897.
  • Ross won the Nobel Prize for Physiology or Medicine in 1902.

International Day of Remembrance of and Tribute to the Victims of Terrorism

  • International Day of Remembrance of and Tribute to the Victims of Terrorism is annually observed on August 21.
  • In 2017 under resolution 72/165 the United Nation General Assembly, established the International Day of Remembrance of and Tribute to the Victims of Terrorism to be commemorated annually on 21 August, in order to honour and support the victims and survivors of terrorism and to promote and protect the full enjoyment of their human rights and fundamental freedoms.

World Senior Citizen Day 2023

  • The World Senior Citizen’s Day is annually celebrated on August 21.
  • The day is intended to increase awareness of the factors and issues that affect older adults, such as health deterioration and elder abuse.
  • The day was first time in 1991.

Defence

Second Missile Cum Ammunition (MCA) Barge, Yard 76 (LSAM 8) was launched

  • Second Missile Cum Ammunition (MCA) Barge, Yard 76 (LSAM 8) was launched by Commodore G Ravi, Warship Production Superintendent (Visakhapatnam) at Guttenadeevi, East Godavari, Andhra Pradesh (launch site of M/s SECON Engineering Projects Pvt Ltd).
  • Yard 76 (LSAM 8) is the second in a series of MCA Barges and is a testament to India’s commitment to self-reliance in defence manufacturing.
  • The MCA Barge has been designed for a service life of 30 years, signifying its durability and longevity.
  • The contract for the construction of eight MCA Barges was awarded to M/s SECON Engineering Projects Pvt Ltd, based in Visakhapatnam.

Indian Naval Ship INS Visakhapatnam docked at Al-Shuwaikh Port as part of three-day stay in Kuwait

  • Indian Naval Ship INS Visakhapatnam docked at Al-Shuwaikh Port as part of a three-day stay in Kuwait.
  • Ambassador of India to Kuwait, Adarsh Swaika, was received onboard the ship by Rear Admiral McCarthy and Captain Rao.
  • Kuwait – Kuwait City (Capital) – Kuwaiti dinar (Currency) – Nawaf Al-Ahmad Al-Jaber Al-Sabah (Emir) – Mishal Al-Ahmad Al-Jaber Al-Sabah (Crown Prince) – Ahmad Nawaf Al-Ahmad Al-Sabah (Prime Minister) – Arabic (Language)

Daily Current Affairs - August 21 & 22, 2023 - Consolidated

  • India prepares own carbon trading system and decarbonisation measures to counter European Union Carbon Border Adjustment Mechanism
  • Bharat New Car Assessment Programme (Bharat NCAP) was launched by Shri Nitin Gadkari
  • Three-day National Thematic Workshop on Localization of (LSDGs) Sustainable Development Goals in Panchayats
  • Department of Animal Husbandry & Dairying will receive 25 million USD grant under Pandemic Fund for strengthening Animal Health System of India
  • Rajasthan government approved Rs 700 crore for irrigation infrastructure upgrade
  • Southeast Asia’s largest desalination plant in Tamil Nadu
  • YES Bank launched new mobile banking app ‘iris’
  • Advertising Standards Council of India (ASCI) said Finfluencers will require registration or licence from SEBI, IRDAI
  • SBI Life Insurance became the first Indian private life insurer to launch a 24X7 inbound contact centre to offer before and after sales services to consumers
  • NHAI signed a memorandum of understanding with GAIL to simplify infrastructure expansion process
  • Dr Jitendra Singh unveiled new Lotus variety ‘Namoh 108’
  • National Green Hydrogen Mission
  • Hindustan Oil Exploration Corporation (HOEC) new managing Director
  • Mascot duo for Men’s Cricket World Cup 2023 was unveiled by International Cricket Council
  • Anahat Singh clinched gold in Asian Junior Squash
  • Sadbhavana Diwas 2023
  • World Mosquito Day 2023
  • International Day of Remembrance of and Tribute to the Victims of Terrorism
  • World Senior Citizen Day 2023
  • Second Missile Cum Ammunition (MCA) Barge, Yard 76 (LSAM 8) was launched
  • Indian Naval Ship INS Visakhapatnam docked at Al-Shuwaikh Port as part of three-day stay in Kuwait

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