Daily Current Affairs – August 26, 2023
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Daily Current Affairs - Banking - August 26, 2023
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National News
Law Minister Arjun Ram Meghwal launched Tele-Law- 2.0
- Union Law and Justice Minister Arjun Ram Meghwal launched Tele-Law- 2.0 that Integrates Tele-Law and Nyaya Bandhu App to ensure access to Justice in New Delhi.
- This will enable the common citizen to access legal advice, legal assistance and legal representation through a single registration and single gateway of Tele-Law.
- The number of beneficiaries of the Tele-Law Scheme have reached 50 Lakhs.
- The integration of legal guidance, support, and representation through a single registration process stands as a testament to the commitment to nurture a digitally literate and empowered populace.
- Upon legal professionals to contribute pro bono services to ensure that no citizen is deprived of essential legal assistance.
- Shri Arjun Ram Meghwal – Minister of State (Independent Charge) (Bikaner,Rajasthan) for the Ministry of Law and Justice
President of India released postage stamp in memory of Dadi Prakashmani
- The President of India, Smt Droupadi Murmu released a postage stamp in memory of Dadi Prakashmani, former chief of Brahma Kumaris at Rashtrapati Bhavan Cultural Centre.
- This stamp was released under the ‘My Stamp’ initiative of the Department of Posts, Ministry of Communications to mark the 16th death anniversary of Dadi Prakashmani.
Ministry of Skill Development and Entrepreneurship organizes a workshop with sending organizations to expand Japan Operations
- Ministry of Skill Development and Entrepreneurship (MSDE), organized a brainstorming workshop with Sending Organizations (SOs), empaneled by National Skill Development Corporation (NSDC) to facilitate a comprehensive dialogue and promote knowledge sharing amongst the stakeholders responsible for mobility of skilled candidates to Japan under Technical Intern Training Program (TITP) and Specified Skill Workers (SSW) program.
- The workshop was chaired by Shri Atul Kumar Tiwari, Secretary, MSDE.
- The workshop provided a platform to the stakeholders to identify and address challenges faced by Sending Organizations and students, share on-ground experiences related to the respective programs, explore effective student monitoring practices, and engage in solution driven discussions.
- Ministry of Skill Development and Entrepreneurship – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Rajeev Chandrasekhar,Minister of State (Rajya Sabha MP,Karnataka)
International News
India, Greece agreed to double bilateral trade by 2030
- India and Greece have agreed to double the bilateral trade by 2030.
- They have decided to take their partnership to a strategic level and also decided to strengthen their strategic partnership by enhancing cooperation in various areas including defence and security, infrastructure, agriculture, education and skill development.
- They also agreed on strengthening defence industrial cooperation apart from military ties.
- Both sides also held discussions over mutual cooperation in the area of terrorism and cyber security and also decided that there should also be a National Secuirty Advsior- NSA-level dialogue platform.
- Greece – Athens (Capital) – Euro (Currency) – Emmanuel Macro Katerina Sakellaropoulou (President) – Kyriakos Mitsotakis (Prime Minister) – Greek (Language)
Indian Mission at Bahrain Launches New Mobile App to Ease Consular Access
- The Embassy of India in Bahrain hosted an open house session, under the guidance of Ambassador Designate Vinod Kurian Jacob.
- The event marked the introduction of the novel mobile application, EoIBh-Connect, designed to facilitate online appointment booking for a spectrum of consular and visa services, accessible through both the Indian Embassy at Manama, Bahrain.
- The app has swiftly broadened its capabilities, now enabling users to conveniently schedule appointments with IVS Global.
- This unified approach directs users to the appropriate service provider based on their chosen service, simplifying the process.
- Bahrain – Manama (Capital) – Bahraini dinar (Currency) – Hamad bin Isa Al Khalifa (King) – Salman bin Hamad Al Khalifa (Crown Prince and Prime Minister) – Arabic (Language)
State News
Union Minister Dharmendra Pradhan laid foundation stone for Central Tribal University in Andhra Pradesh
- Union Minister for Education and skill development Dharmendra Pradhan laid the foundation stone for the Central Tribal University at Saluru, Parvatipuram Manyam district of Andhra Pradesh.
- The central Tribal University will improve the educational standards in the northern region of Andhra Pradesh.
- Andhra Pradesh – Visakhapatnam (Capital) – Y. S. Jagan Mohan Reddy (CM) – S. Abdul Nazeer (Governor) – Telugu (Language)
Banking and Finance
Airtel Payments Bank, Frontier Markets, Mastercard partnered to support women-owned small businesses
- Airtel Payments Bank has partnered with Frontier Markets and Mastercard to support one lakh women-owned small businesses in India.
- The ‘She Leads Bharat:Udyam’ initiative will enable these businesses based in Rajasthan and Uttar Pradesh to upskill and earn via Frontier Markets’ Meri-Saheli platform.
- Out of these, 10,000 female small business owners will be able to grow their business and add a source of revenue by becoming Airtel Payments Bank Business Correspondents (BCs).
- The initiative will be funded by the Mastercard Impact Fund, which will bring capital and global expertise of its Center for Inclusive Growth to unlock tools, resources, and networks for women-owned small businesses.
- Airtel Payments Bank – 23/11/2016 (Founded) – New Delhi (HQ) – Anubrata Biswas (MD & CEO)
SBI launched Aadhaar-based enrolment for social security schemes
- The country’s largest lender State Bank of India (SBI) has introduced a facility to allow customers to enrol in social security schemes by just furnishing an Aadhaar card.
- Chairman Dinesh Khara, unveiled an innovative Customer Service Points (CSP) functionality that enables hassle-free enrolment for social security schemes through Aadhaar.
- Customers visiting CSPs will need only their Aadhaar cards to enrol in schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana, the Pradhan Mantri Suraksha Bima Yojana, and the Atal Pension Yojana.
- State Bank of India (SBI) – 01/07/1955 (Founded) – Mumbai (HQ) – Dinesh Kumar Khara (Chairman) – “Pure Banking, Nothing Else” (Tagline)
Commercial banks' deposit growth nearly at 7-year high
- Commercial banks’ deposits grew by 13.5 per cent on a year-on-year basis for the fortnight ended August 11, marking the highest growth in almost seven years, according to the latest data released by the Reserve Bank of India (RBI).
- The previous high for deposit growth was 14.12 per cent on January 6, 2017, months after the demonetisation of the Rs 1,000 currency note and the then Rs 500 note, which was announced on November 8, 2016.
- The growth in deposits in the current financial year picked up pace after the RBI announced the withdrawal of the Rs 2,000 note in May, although the note continues to be legal tender.
- This represents an increase from the 8.8 per cent deposit growth recorded a year ago.
- Meanwhile, credit offtake has continued to remain robust, with a 19.7 per cent growth year-on-year recorded until August 11, 2023, as compared to 15.3 per cent a year ago.
- So far in the financial year, credit growth was 8.8 per cent and deposits grew by the same percentage, while last year deposits grew by 6.6 per cent.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Science and Technology
CBDT launched revamped website of I-T department
- The newly revamped website was launched by the Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta at the ‘Chintan Shivir’, organised by the Directorate of Income Tax (Systems), at Udaipur.
- The revamped website has been redesigned with a mobile-responsive layout.
- The website also has a ‘Mega Menu’ for content, with new features, and functionalities.
- For the convenience of the visitors to the website, all these new additions are explained through a guided virtual tour and new button indicators.
- The new functionalities allow users to compare different Acts, sections, rules, and tax treaties.
- All relevant content on the site is now tagged with Income Tax sections for easy navigation.
- Further, dynamic due date alerts functionality provides reverse countdowns, tool tips, and links to relevant portals to help taxpayers to comply easily.
Acquisitions and Mergers
Reliance Capital sold 45% stake in home fin arm
- Reliance Capital sold a 45% stake in listed subsidiary Reliance Home Finance for ₹54 crore in the open market, a move that will improve recovery for lenders.
- Reliance Capital, which is undergoing corporate insolvency, is now left with under 2.5% in Reliance Home Finance.
- Lenders have approved a ₹9,660-crore resolution plan offered by Hinduja Group-promoted IndusInd International Holdings for Reliance Capital.
Reports
6th Census Report on Minor Irrigation (MI) Schemes
- The Ministry of Jal Shakti, Department of Water Resources, River Development and Ganga Rejuvenation released the report on the 6th census on minor irrigation schemes.
- As per the report, 23.14 million minor irrigation (MI) schemes have been reported in the country, out of which 21.93 million (94.8%) are Ground Water (GW) and 1.21 million (5.2%) are Surface Water (SW) schemes.
- Uttar Pradesh possesses the largest number of MI schemes in the country followed by Maharashtra, Madhya Pradesh and Tamil Nadu.
- In SW schemes Maharashtra, Karnataka, Telangana, Odisha and Jharkhand have the highest share.
- GW schemes comprise dugwells, shallow tube wells, medium tube wells and deep tube wells.
- The SW schemes comprise surface flow and surface lift schemes.
- There has been increase of about 1.42 million in MI schemes during 6th MI census as compared to 5th Census.
- At the national level, both GW and SW schemes have increased by 6.9% and 1.2%, respectively.
- Dug-wells have highest share in MI schemes followed by shallow tube-wells, medium tube-wells and deep tube-wells.
- Maharashtra is the leading State in dug-wells, surface flow and surface lift schemes.
- Uttar Pradesh, Karnataka and Punjab are the leading States in shallow tube-wells, medium tube-wells and deep tube-wells, respectively.
- Out of all MI schemes, 97.0% are ‘in use’, 2.1% are ‘temporarily not in use’ whereas 0.9% are ‘permanently not in use’.
- Shallow tube-wells and medium tube-wells lead in the category of ‘in use’ schemes.
- A majority of MI schemes (96.6%) are under private ownership.
- In GW schemes, the share of private entities in the ownership is 98.3% whereas in SW schemes the respective share is 64.2%.
- For the first time, the information about gender of the owner of MI scheme was also collected in case of individual ownership. Out of all the individually owned schemes, 18.1% are owned by women.
- Around 60.2% schemes have single source of finance whereas 39.8% schemes have more than one source of finance. In single source of finance, majority of schemes (79.5%) are being financed by own savings of individual farmer.
- Ministry of Jal Shakti – Gajendra Singh Shekhawat,Union Minister (Jodhpur,Rajasthan) – Prahlad Singh Patel,Minister of State (Damoh,MP) & Bisweshwar Tudu,Minister of State (Mayurbhanj,Odisha)
Sports News
Ministry of Youth Affairs and Sports sanctioned 634 athletes to take part in Asian Games
- Ministry of Youth Affairs and Sports (MYAS) has sanctioned 634 athletes across 38 sporting disciplines for participation in the upcoming Asian Games, who met the set selection criteria, against the 850 athletes recommended by the Indian Olympic Association (IOA).
- A total of 572 athletes participated in the last edition of Asian Games in 2018 where India returned with 70 medals including 16 Golds.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
Important Days
National Space Day
- Prime Minister Narendra Modi announced that to mark the success of Chandrayaan 3’s Moon landing, August 23 will be celebrated as National Space Day.
International Dog Day 2023
- International Dog Day is annually celebrated on August 26.
- This day aims to recognise the important role that a dog plays in our lives.
- International Dog Day has been observed since 2004, when a pet lover, Colleen Paige, celebrated the day as a way to raise awareness about dog shelters.
Defence
INS Sunayna visited port of Durban, South Africa
- INS Sunayna visited port of Durban, South Africa reinforcing India’s ties with the maritime partners towards and in accordance with Prime Minister’s vision of Security and Growth for All in the Region (SAGAR).
- During the visit, personnel from Indian Navy and South African Navy engaged in a wide range of professional and training interactions, deck visits and sports fixture.
- Joint training sessions were conducted on various aspects of navigation, firefighting, damage control and Visit Board Search & Seize.
- Spreading the message of ‘Vasudhaiva Kutumbakam’, a joint Yoga session was conducted onboard INS Sunayna with the South African Navy personnel.
- The Consul General of India in Durban Dr. Thelma John David visited the ship and was familiarised with ship’s role and capabilities.
- The ship undertook Maritime Partnership Exercise (MPX) with South African Navy Ship SAS King Sekhukhune I off Durban, on leaving harbour, furthering jointness and interoperability.
- The successful culmination of the visit is testament to shared commitment of both the Navies towards fostering maritime cooperation and partnership.
- South Africa – Pretoria (executive), Cape Town (legislative) & Bloemfontein (judicial) (Capital) – Zulu, Xhosa, Afrikaans, English, Sepedi, Swazi, Sesotho, Setswana, Xitsonga, Tshivenda, Ndebele, South African Sign Language (Language) – Cyril Ramaphosa (President) – Amos Masondo (Chairperson of the National Council) – South African rand (Currency)
Daily Current Affairs - August 26, 2023 - Consolidated
- Law Minister Arjun Ram Meghwal launched Tele-Law- 2.0
- President of India released postage stamp in memory of Dadi Prakashmani
- Ministry of Skill Development and Entrepreneurship organizes a workshop with sending organizations to expand Japan Operations
- India, Greece agreed to double bilateral trade by 2030
- Indian Mission at Bahrain Launches New Mobile App to Ease Consular Access
- Union Minister Dharmendra Pradhan laid foundation stone for Central Tribal University in Andhra Pradesh
- Airtel Payments Bank, Frontier Markets, Mastercard partnered to support women-owned small businesses
- SBI launched Aadhaar-based enrolment for social security schemes
- Commercial banks’ deposit growth nearly at 7-year high
- CBDT launched revamped website of I-T department
- Reliance Capital sold 45% stake in home fin arm
- 6th Census Report on Minor Irrigation (MI) Schemes
- Ministry of Youth Affairs and Sports sanctioned 634 athletes to take part in Asian Games
- National Space Day
- International Dog Day 2023
- INS Sunayna visited port of Durban, South Africa
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