Daily Current Affairs – August 22, 2023
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Daily Current Affairs - Banking - August 22, 2023
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International News
PM Modi embarked on 2 nation visit to South Africa and Greece
- Prime Minister Narendra Modi on four-day visit to South Africa and Greece.
- In Johannesburg, South Africa Mr Modi will attend the 15th BRICS (Brazil, Russia, India, China and South Africa) Summit.
- The first BRIC summit involving all four nations was held in Russia in 2009.
- By 2011, South Africa was a full-fledged member, too, adding the S in BRICS.
- 14th BRICS summit was held in China.
- India – 3rd, 8th, 12th BRICS Summit.
India and ASEAN agreed to review FTA by 2025
- India and the ASEAN countries reached an agreement to review their free trade pact for goods and set a 2025 goalpost for concluding the review aimed at addressing the “asymmetry” in bilateral trade.
- A Joint Committee of the ASEAN-India Trade in Goods Agreement (AITIGA), signed in 2009, deliberated on the roadmap for the review of the pact and finalised the terms of reference for the fresh negotiations, ahead of an ASEAN-India Economic Ministers’ meeting held in Indonesia.
- The AITIGA review will now be taken up at the India-ASEAN Leaders’ Summit scheduled in early September for further guidance.
- ASEAN (Association of Southeast Asian Nations) – 8/8/1967 (Founded) – Jakarta, Indonesia (HQ) – Kao Kim Hourn (Secretary-General) – Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam (Members)
State News
Datia Airport in Madhya Pradesh
- Chief Minister of Madhya Pradesh, Shri Shivraj Singh Chouhan, and Union Minister of Civil Aviation and Steel, Shri Jyotiraditya M. Scindia, laid the foundation stone of Datia Airport in Madhya Pradesh.
- The airport is being developed at a cost of around Rs. 50 crores and is expected to be complete by February 2024.
- The development involves the renovation of the existing 1810-meter runway and construction of apron which can house two nineteen-seater aircraft and a terminal building of 750 square meters and ATC tower.
- The terminal building will have the capacity to accommodate 100 passengers during peak hours.
- Madhya Pradesh – Bhopal (Capital) – Shivraj Singh Chouhan (CM) – Mangubhai C. Patel (Governor) – Hindi (Language)
Tamil Nadu Chief Minister launched Green Fellowship programme
- Chief Minister M.K. Stalin launched the Chief Minister’s Green Fellowship Programme (CMGFP) at the Secretariat and met the 40 Green Fellows selected for the programme.
- The scheme was announced in the Assembly as part of the 2021-22 Budget demand for the Department of Environment and Climate Change.
- The selection process started in March 2023.
- Apart from 40 fellows, one programme lead and four research associates were selected by the Institute of Energy Studies at Anna University, the knowledge partner for the programme.
- The programme was “designed to provide a platform to passionate young individuals who are committed to environmental conservation, renewable energy, biodiversity protection, and other aspects of sustainable living”.
- Apart from the 38 Fellows assigned to each district, two of them will work at the Project Management Unit (PMU) at Anna University’s Climate Studio.
- During the programme, each Fellow will receive a stipend of ₹60,000 a month and an allowance of ₹15,000 for travel within their respective districts.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Centre will set up Rs 12,000-crores inland waterway on Brahmani river in Odisha
- The Centre is preparing a Rs 12,000-crore inland waterway on the Brahmani river in Odisha to move goods from four key industrial clusters to the ports of Paradip and Dhamra.
- Under the proposed plan, the inland waterway will be developed on the engineering, procurement and construction (EPC) model.
- A special purpose vehicle (SPV) between the Coal India Limited (CIL), the Inland Waterways Authority of India (IWAI), Paradip Port and the Odisha government will be developing the infrastructure required to operationalise the National Waterway 5 (NW5).
- Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)
Uttar Pradesh government will groom 3 million rural women as micro agri-preneurs
- The Uttar Pradesh government will groom nearly 3 million rural women associated with self-help groups (SHGs) as micro agri-preneurs, a move the state hopes would increase their annual income to at least Rs 1 lakh in the next three years.
- The development comes days after Prime Minister Narendra Modi’s dream to make 20 million “lakhpati Didis”.
- The UP State Rural Livelihood Mission, in line with the National Rural Livelihood Mission, is drafting a detailed road map to take the agenda forward.
- Earlier, the state’s plan was to include 1.5 million women SHG members under the scheme.
- According to sources, nearly a million women SHG members in the state now have an annual income of more than Rs 1 lakh.
- UP women SHGs comprising 60,000 members were engaged in growing improved varieties of sugarcane seeds after the first wave of pandemic.
Schemes
Chhattisgarh Chief Minister transfered Rs 2,000 crores to beneficiaries of Various Scheme
- Chief Minister Bhupesh Baghel transferred Rs 2,055.6 crore into the accounts of beneficiaries as part of the Rajiv Gandhi Kisan Nyay Yojana (RGKNY) and other schemes.
- Around Rs 1,810 crore was transferred as the second instalment under the RGKNY; Rs 168.63 crore under the Rajiv Gandhi Bhumihin Krishi Majdoor Nyay Yojana (RGBKMNY); Rs 66.21 crore to the Rajiv Yuva Mitan clubs; Rs 9.65 crore to the beneficiaries of the Godhan Nyay Yojana; and Rs 1.11 crore under the Mukhmantri Parab Samman Nidhi Yojana.
- Chhattisgarh – Raipur (Capital) – Bhupesh Baghel (CM) – Biswabhusan Harichandan (Governor) – Chhattisgarhi & Hindi (Language)
Banking and Finance
Canara Bank introduced UPI interoperable digital rupee mobile app
- Canara Bank launched the UPI Interoperable Digital Rupee mobile application as a part of the Reserve Bank of India’s Central Bank Digital Currency (CBDC) pilot project.
- It is the first bank in both the public and commercial sectors to offer this feature via its CBDC mobile app called the Canara Digital Rupee app.
- With the introduction of this feature, customers can scan merchant UPI QR codes using the Canara Digital Rupee app and pay through digital currency.
- Moreover, the feature is aimed at empowering merchants to accept digital currency payments using their existing UPI QR codes in addition to UPI-based payments without the requirement of a separate onboarding process for CBDC.
- The Canara Bank Digital Rupee mobile application is available for Android and iOS users, enabling customers to conveniently transact in digital currency.
- Canara Bank – 01/07/1906 (Founded) – Bangalore (HQ) – K Satyanarayana Raju (MD & CEO) – “Together We Can”
Indian Bank extended on-line locker pact execution through NeSL’s DDE Platform
- Indian Bank became the First Public Sector Bank to extend facility of execution of on-line locker agreement through Digital Document Execution (DDE) Platform of National E-Governance Services Limited (NeSL).
- On-line locker agreement, which is available round the clock will enhance customer convenience and will reduce the turn-around time of the agreement execution.
- DDE is a fully automated contract execution platform with paperless e-stamp and electronic signature (e-Sign) facility.
- The facility of e-Sign includes Aadhar based (OTP/Biometric) and dongle-based digital signature.
- The platform offers individual and multiple signatories to execute document in sequence, which will facilitate joint account holders also to execute on-locker agreement at their ease.
- Customers can track transaction status and download the Electronic Evidence (65B) certificate in real-time.
- The end to end digital process eliminates the need for physical stamp papers and signatures, making it faster and more efficient.
- Indian Bank – 15/08/1907 (Founded) – Chennai (HQ) – Shanti Lal Jain (MD & CEO) – “Your Own Bank”
Power Finance Corporation (PFC) signed $1.28 million loan pact with Japan Bank for International Cooperation (JBIC) for waste-to-energy project in Karnataka
- State-owned Power Finance Corporation (PFC) has signed a loan agreement with Japan Bank for International Cooperation (JBIC) for JPY 1.85 billion or $1.28 million for a waste-to-energy project in Karnataka.
- The agreement was signed under the long-term facility of JPY 30 billion provided by JBIC to PFC.
- The loan proceeds would be used to finance the 11.5 MW for waste-to-energy project of KPC Gas Power Corporation Ltd, a wholly owned subsidiary of KPCL, at Bidadi, Ramanagara district, Karnataka.
- Power Finance Corporation Ltd (PFC) – July 1986 (Founded) – New Delhi (HQ) – Parminder Chopra (Chairman & MD)
Business and Economy
Icra maintained India’s GDP at 6% for FY24
- India’s economic growth will accelerate to 8.5% in the April-June period of the current fiscal from the 6.1% growth rate witnessed in the preceding January-March quarter, Icra Ratings and maintained her 6% real GDP growth estimate for FY24.
Summit and Conference
Commonwealth Parliamentary Association India Region Conference held in Udaipur
- Lok Sabha Speaker Om Birla inaugurated the ninth India Region Conference of the Commonwealth Parliamentary Association in Rajasthan’s Udaipur.
- The theme of the two-day conference is ‘Strengthening Democracy and Good Governance in the Digital Age’.
- The India Region of the Commonwealth Parliamentary Association (CPA) comprises 31 legislatures from across the country and has the second largest number of member branches after the African Region.
- Rajasthan – Jaipur (Capital) – Ashok Gehlot (CM) – Kalraj Mishra (Governor) – Hindi (Language)
Power
By FY29 Coal mining PSUs will install over 6.6 GW power capacity
- Coal Ministry PSUs are diversifying revenue streams by adding coal-based power capacity of 6,640 megawatts (MW), for which an investment of more than ₹60,300 crores has been planned.
- These capacities are expected to be commissioned by FY29.
- The rationale is to encourage coal mining PSUs to diversify revenue streams to be future ready with strategies for not only thermal power plants (TPPs), but also installing solar and wind power.
- Ministry of Coal – Pralhad Venkatesh Joshi,Union Minister (Dharwad,Karnataka)
Appointments
Axis Bank’s Neelkanth Mishra appointed as part-time chairperson of UIDAI
- Neelkanth Mishra has reportedly been appointed by the Union government as the part-time chairperson of the Unique Identification Authority of India (UIDAI).
- He is Chief Economist at Axis Bank and Head of Global Research at Axis Capital.
- Meanwhile, Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Company Limited, and Prof Mausam, Associate Professor in the Computer Science Department at IIT Delhi, have been named as part-time UIDAI members.
Bernardo Arévalo won Guatemala presidential election
- The anti-corruption crusader Bernardo Arévalo was elected president of Guatemala.
- He is the first democratically elected president of Guatemala.
- He will be in inaugurated as the 51st president on January 14, 2024.
- Guatemala – Guatemala City (Capital) – Quetzal (Currency) – Alejandro Giammattei (President) – Spanish (Language)
Ranks and Indices
India ranked 11th position in global direct selling ranking
- India has moved up to 11th position in the ranking of top markets of direct sellers, with retail sales of USD 3.23 billion (around Rs 26,852 crore) in 2022, global industry body World Federation of Direct Selling Association (WFDSA).
- Indian direct selling has registered a growth of 5.4 per cent over 2021 retail sales.
- On a constant dollar basis, the Indian market attained the highest Compounded Annual Growth Rate (CAGR) of over 13.3 per cent during the last three years.
- The global direct selling industry reported a decline of 1.5 per cent in 2022 to USD 172.89 billion.
- The top market in the list was the US with USD 40.52, with a decline of 5 per cent over 2021.
- It was followed by Korea, Germany, China, Japan and Malaysia.
Books and Authors
'Drunk on Love: The Life, Vision and Songs of Kabir' by Vipul Rikhi
- Book: ‘Drunk on Love: The Life, Vision and Songs of Kabir’
- Author: Vipul Rikhi
- Publisher: HarperCollins
Sports News
FIFA Women's World Cup 2023
- The FIFA Women’s World Cup 2023 was hosted by Australia and New Zealand, making it the first edition to be held in the Southern Hemisphere, the first Women’s World Cup to be hosted by two countries.
- Winner: Spain/Runner: England
- The nine FIFA Women’s World Cup tournaments have been won by five national teams.
- The United States have won four times.
- The other winners are Germany, with two titles, and Japan, Norway, and Spain with one title each.
Important Days
World Water Week 2023
- World Water Week is a global event held from August 20 to 24 at the Waterfront Congress Center.
- The event was organised by the Stockholm International Water Institute every year since 1991.
- Theme – Seeds of Change: Innovative Solutions for a Water-Wise World
Defence
27th edition of multilateral naval exercise Malabar 2023
- The 27th edition of the multilateral naval exercise Malabar 2023 concluded in Sydney, Australia.
- The exercise saw the participation of Ships, Submarines, and aircraft from the Indian Navy, Royal Australian Navy, Japan Maritime Self-Defence Force, and the US Navy.
- Indian Navy was represented by indigenously built Destroyer INS Kolkata, Frigate INS Sahyadri, and P8I Maritime Patrol Aircraft.
Daily Current Affairs - August 22, 2023 - Consolidated
- PM Modi embarked on 2 nation visit to South Africa and Greece
- India and ASEAN agreed to review FTA by 2025
- Datia Airport in Madhya Pradesh
- Tamil Nadu Chief Minister launched Green Fellowship programme
- Centre will set up Rs 12,000-crores inland waterway on Brahmani river in Odisha
- Uttar Pradesh government will groom 3 million rural women as micro agri-preneurs
- Chhattisgarh Chief Minister transfered Rs 2,000 crores to beneficiaries of Various Scheme
- Canara Bank introduced UPI interoperable digital rupee mobile app
- Indian Bank extended on-line locker pact execution through NeSL’s DDE Platform
- Power Finance Corporation (PFC) signed $1.28 million loan pact with Japan Bank for International Cooperation (JBIC) for waste-to-energy project in Karnataka
- Icra maintained India’s GDP at 6% for FY24
- Commonwealth Parliamentary Association India Region Conference held in Udaipur
- By FY29 Coal mining PSUs will install over 6.6 GW power capacity
- Axis Bank’s Neelkanth Mishra appointed as part-time chairperson of UIDAI
- Bernardo Arévalo won Guatemala presidential election
- India ranked 11th position in global direct selling ranking
- ‘Drunk on Love: The Life, Vision and Songs of Kabir’ by Vipul Rikhi
- FIFA Women’s World Cup 2023
- World Water Week 2023
- 27th edition of multilateral naval exercise Malabar 2023
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