Daily Current Affairs – August 30, 2023
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Daily Current Affairs - Banking - August 30, 2023
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National News
Shri Arjun Munda launched ‘Awareness Campaign and Training of Trainers for the Elimination of Sickle Cell Anaemia'
- Union Minister of Tribal Affairs, Shri Arjun Munda launched the ‘Awareness Campaign and Training of Trainers’ as a part of the ‘Mission for Elimination of Sickle Cell Anaemia’ in New Delhi.
- The programme envisages training of grassroot level functionaries so as to create awareness in this direction among the masses, especially in tribal regions.
- Government declared a Mission to eliminate Sickle Cell Anaemia by 2047 in the budget of 2023-24.
- This Mission will entail awareness creation, universal screening of 7 crore people in the age group of 0-40 years in affected tribal areas, and counselling through collaborative efforts of central ministries and state governments.
- The Mission was formally launched by the Prime Minister Shri Narendra Modi, on 1st July, 2023 in Shahdol District of Madhya Pradesh.
- Ministry of Tribal Affairs – Arjun Munda,Cabinet Minister (Khunti,Jharkhand) – Renuka Singh Saruta, Minister of State (Sarguja, Chhattisgarh) & Bisweshwar Tudu, Minister of State (Mayurbhanj,Odisha)
International News
India and New Zealand signed MoU to boost cooperation in Civil Aviation
- The Government of India and the Government of New Zealand have signed a Memorandum of Understanding (MoU) to boost cooperation in civil aviation.
- This will cover the scheduling of new routes, code share services, traffic rights and capacity entitlement.
- The MoU was signed by Shri Rajiv Bansal, Secretary, Ministry of Civil Aviation and HE Mr David Pine, the New Zealand High Commissioner in the presence of Shri Jyotiraditya M. Scindia, Minister for Civil Aviation of India and Mr Damien O’ Connor, Minister for Trade and Export Growth, Minister of Agriculture, Minister for Biosecurity, Minister for Land Information, and Minister for Rural Communities of New Zealand.
- According to the MoU, the designated airline(s) of New Zealand may operate any number of services with any type of aircraft, with third and fourth freedom traffic rights to/from six points in India, namely New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata.
- New Zealand – Wellington (Capital) – New Zealand dollar (Currency) – Charles III (Monarch) – Chris Hipkins (Prime Minister) – English, Māori, NZ Sign Language (Language)
State News
Bhaderwah Rajma & Ramban Sulai Honey of Jammu and Kashmir get GI Tag
- In Jammu and Kashmir, two world-famous local specialty products namely Bhaderwah Rajma and Ramban Sulai Honey have earned coveted Geographical Indication (GI) Tag.
- The process for GI Tagging of these products was initiated by the Department of Agriculture & Farmers Welfare, Jammu & Kashmir.
- The Rajma of Bhaderwah district, which is called red bean.
- The Sulai honey is from Ramban district.
- These are two important products of Chenab Valley.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
Banking and Finance
RBI appointed Bandhan Bank to disburse civil pension
- Bandhan Bank had been appointed by the Reserve Bank of India (RBI) as an authorised pension disbursement bank on behalf of the Central Pension Accounting Office (CPAO), Ministry of Finance, for civil pensioners.
- The Bank will soon be integrating with the office of the CPAO to operationalise the disbursement process.
- The Bank to disburse pensions to the Central Government employees in Civil Ministries and Departments (other than Railways, Posts, and Defence), the National Capital Territory of Delhi, Union Territory Administrations without legislatures, retired Judges of the High Courts and the Supreme Court, and All India Service Officers.
- This Scheme also covers the payment of pensions to former Members of Parliament and the payment of pensions and other amenities to former Presidents and Vice Presidents of India.
- Bandhan Bank – 2015 (Founded) – Kolkata, West Bengal (HQ) – Chandra Shekhar Ghosh (MD & CEO) – “Aapka Bhala, Sabki Bhalai” (Tagline)
Star Health geared up for ‘Bharat’ journey
- Star Health & Allied Insurance Company Ltd is devising a new growth strategy under which it seeks to grow at a Compound annual growth rate (CAGR) of 20 per cent during this decade to deepen its focus on Bharat (rural and semi-urban locations) and strengthen schemes and coverage for out-patient department expenses.
- Star Health is the largest private health insurer in India, with a gross written premium of ₹12,953 crores as of FY23.
- It had a market share of 34% in the retail health segment and 49% among standalone health insurers.
Axis Bank launched 'Infinity Savings Account' with zero transaction fees
- Axis Bank, a private sector lender, launched its ‘Infinity Savings Account’ offering special features for its customers, including no domestic transaction charges in exchange for monthly fees.
- The move aims to appeal to those who frequently adopt subscription-based models.
- The bank offers two subscription-based flexible plans: Monthly and Annual.
- The Monthly plan is priced at Rs 150 (inclusive of GST) and requires a minimum subscription period of six months.
- After the initial six months, the plan continues on a 30-day cycle, with Rs 150 deducted every 30 days.
- The Annual plan is priced at Rs 1,650 (inclusive of GST) and provides Infinity benefits for 360 days.
- The plan automatically renews after this period.
- Axis Bank – 03/12/1993 (Founded) – Mumbai (HQ) – Amitabh Chaudhry (MD & CEO) – “Badhti Ka Naam Zindagi” (Tagline)
Centre likely to infuse capital in certain regional rural banks in FY24
- The Centre is likely to infuse capital in certain regional rural banks (RRBs) during 2023-24, depending on their performance and adoption of digitisation.
- Union Finance Minister Nirmala Sitharaman will hold a review meeting with chairpersons and senior officials of RRBs from the Northern region in New Delhi.
- In FY23, RRBs saw funds infusion of Rs 10,890 crore.
- The share of the Centre in this was 50 per cent at Rs 5,445 crore.
- For instance, the nine RRBs under Punjab National Bank (PNB) saw their capital adequacy ratio (overall) decline by 111 basis points (bps) year-on-year (Y-o-Y) to 11.73 per cent at the end of financial year 2022-23 (FY23).
- Ministry of Finance – Nirmala Sitharaman,Cabinet Minister (Rajya Sabha MP,Karnataka) – Bhagwat Karad, Minister of State (Rajya Sabha MP,Maharashtra) & Pankaj Choudhary, Minister of State (Maharajganj,UP)
YES bank partnered with fintech Zaggle for next-gen corporate credit card
- YES Bank co-branded Corporate Credit Card in collaboration with spend management platform Zaggle, to empower businesses to reimagine their payment processes, streamline reconciliation, and efficiently manage company expenditures.
- The new card ‘YES BANK Zaggle Corporate Credit Card’, provides businesses direct control over company expenditures.
- This includes the ability to set individual spending limits, apply merchant category restrictions, and implement diverse controls.
- Additionally, cardholders gain access to an array of exclusive benefits, spanning rewards, golf privileges, lounge access, and travel insurance.
- Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)
Life Insurance Corporation of India (LIC) partnered with Saraswat Cooperative Bank for bancassurance tie-up
- Life Insurance Corporation of India (LIC) and Mumbai-headquartered Saraswat Cooperative Bank have entered into a partnership under which the bank will sell the insurance major’s products.
- The partnership is part of efforts to increase penetration of life insurance through the bancassurance channel.
- The largest urban cooperative bank in the country, Saraswat Cooperative Bank, with a network comprising 294 branches across six States (Maharashtra, Gujarat, Madhya Pradesh, Karnataka, Goa and Delhi) caters to more than two million customers.
- LIC said it has insurance products for all segments of society, from annuity, ULIP, term insurance to savings plans.
- Its close ended guaranteed benefit plan Dhan Vriddhi, for those aged 90 days to 60 years, is available till September 30.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Asian Development Bank (ADB) and Fourth Partner Energy to Build Solar Power Plant in India
- The Asian Development Bank (ADB) and Fourth Partner Energy Private Limited (Fourth Partner) signed a long-term loan of up to 1.2 billion Indian rupees (about $14.7 million) to construct and operate a 25-megawatt solar photovoltaic-based power plant to increase clean and low-cost energy supply to commercial and industrial customers.
- The power plant, located in Tirunelveli district in the state of Tamil Nadu in India, is expected to generate about 50.7 gigawatt-hours of electricity annually and will directly sell power to commercial and industrial users.
- India’s progressive open access renewable energy policy allows a group of consumers to purchase electricity directly from an Independent Power Producer (IPP).
Business and Economy
Capital outlay for roads and renewables expected at ₹13-lakh crore in FY24 and FY25
- According to Crisil, The combined capital outlay for roads and renewables in the current and next fiscal is seen rising to around ₹13-lakh crore, a 35 per cent growth compared with the preceding two fiscals, backed by strong execution speed.
- The pace of road construction and capacity addition in renewables is seen increasing by 25 per cent and 33 per cent, respectively, over the current and next fiscal years.
- This bodes well for the economy, given the high multiplier effect of road development and the critical role renewable energy can play in achieving India’s energy transition.
- The growth is expected to sustain over the medium term, supported by conducive policies, strong investor interest, and healthy financial profiles.
Securities and Exchange Board of India(SEBI) slapped Rs 45 lakh penalties on 9 entities for non-genuine trades
- Securities and Exchange Board of India(SEBI) levied penalties totalling Rs 45 lakh on nine entities for indulging in non-genuine trades.
- In nine separate orders, the regulator imposed a fine of Rs 5 lakh each on Vivek Company, Soundlight Projects, S R Realbuild, Srijan Dealers, Manomay Dealmark, Zodiac Vanijya, VKJ Trexim, Hans Homes and Guruteg Bahadur Rice Mill.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
Appointments
New Executive Chairman of TVS Supply Chain
- TVS Supply Chain Solutions Ltd (TVS SCS) announced that its founder and promoter R Dinesh has been appointed as the Executive Chairman by its Board of Directors.
- He previously worked as Executive vice-chairman.
Finance Industry Development Council new chairman
- The Finance Industry Development Council (FIDC), the representative body for asset and loan financing of Non-Banking Finance Companies (NBFCs), has appointed Umesh Revankar as its new chairman.
- He was Currently serving as the Executive Vice Chairman for Shriram Finance.
Books and Authors
Comic Book Developed by NCERT and UNESCO “Let’s Move Forward”
- Union Education and Skill Development & Entrepreneurship Minister Shri Dharmendra Pradhan, launched a novel comic book titled “Let’s Move Forward” at Kaushal Bhawan, New Delhi.
- This comic book is a collaborative effort between the National Council of Educational Research and Training (NCERT) and UNESCO New Delhi.
- It signifies a significant stride towards augmenting the goals of the School Health and Wellness Programme (SHWP).
- The SHWP, initiated under the Ayushman Bharat campaign in April ,2018 by Prime Minister Narendra Modi, is an initiative undertaken by the Ministry of Education and the Ministry of Health and Family Welfare.
- Its primary objective is to impart health education, prevent diseases, and enhance access to health services through wellness centres within educational institutions.
- The “Let’s Move Forward” comic book is designed to cater to the diverse requirements of adolescents and encapsulates crucial information pertaining to the 11 thematic components of the School Health and Wellness Programme.
- These encompass a comprehensive range of subjects, including emotional well-being, interpersonal relationships, gender equality, nutrition and health, substance abuse prevention, healthy lifestyles, reproductive health, internet safety, and more.
- The comic book imparts life skills essential for fostering responsible and health-conscious behaviour among adolescents.
- This innovative approach serves to not only disseminate health-related knowledge but also facilitate the acquisition of life skills necessary for comprehensive personal development.
- It is accessible in multiple languages, including Hindi, English, Assamese, Bengali, Gujarati, Kannada, Malayalam, Marathi, Odiya, Tamil, and Telugu, to ensure inclusivity across linguistic diversity.
- The “Let’s Move Forward” comic book will be distributed across various educational and health institutions nationwide.
- Its distribution will encompass State School Education Departments, SCERTs, Colleges of Teacher Education (CTEs), Institutes of Advanced Study in Education (IASEs), District Institutes of Education and Training (DIETs), Block Institutes of Teacher Education (BITEs), and state health departments.
- Additionally, the comic books will be disseminated to the 29,000 schools affiliated with the CBSE, thereby expanding its outreach.
- An electronic version of the comic book will also be accessible on the Ministry of Education (MoE), NCERT, UNESCO, and DIKSHA websites.
- Ministry of Education – Dharmendra Pradhan,Union Minister (Rajya Sabha MP,MP) – Subhas Sarkar, Minister of State (Bankura, West Bengal), Annpurna Devi Yadav, Minister of State (Kodarma, Jharkhand), Rajkumar Ranjan Singh, Minister of State (Inner Manipur,Manipur)
Sports News
Women’s Asian Hockey 5s World Cup Qualifier
- India won the inaugural Women’s Asian Hockey 5s World Cup Qualifier in Salalah, Oman against Thailand and seal its berth in the next year’s World Cup.
- India, thus, qualified for the inaugural edition of the Hockey 5s World Cup to be held in Muscat from January 24-27 next year.
- Oman – Muscat (Capital) – Omani rial (Currency) – Haitham bin Tariq (Sultan) – Theyazin bin Haitham (Crown Prince) – Arabic (Language)
Important Days
National Sports Day
- India celebrates National Sports Day on August 29 to commemorate the birth anniversary of hockey legend, Major Dhyan Chand.
- The day is also dedicated to the nations’ sports heroes and champions, honoring their contribution and dedication towards bringing laurels to the country.
- Major Dhyan Chand was born on 29 August 1905.
- The first National Sports Day was celebrated on August 29, 2012.
- Ministry of Youth Affairs and Sports – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Nisith Pramanik,Minister of State (Cooch Behar, West Bengal)
Small Industry Day 2023
- Small Industry Day is annually observed on August 30 in India.
- The day honours the invaluable contributions of small industries, often overlooked yet pivotal drivers of global economies.
- It was celebrated for the first time on August 30, 2001.
International Day of the Victims of Enforced Disappearances
- International Day of the Victims of Enforced Disappearances is annually observed on August 30.
- On 21 December 2010, by its resolution 65/209 the UN General Assembly expressed its deep concern about the increase in enforced or involuntary disappearances in various regions of the world, including arrest, detention and abduction, when these are part of or amount to enforced disappearances, and by the growing number of reports concerning harassment, ill-treatment and intimidation of witnesses of disappearances or relatives of persons who have disappeared.
- The day was first observed on 2011.
- United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)
Defence
Army signed deals for 130 tethered drones and 19 tank driving simulators
- The Army has signed contracts for the procurement of 130 tethered drones and 19 tank-driving simulators under Emergency Procurement (EP) and they will be delivered in 12 months.
- The armed forces are currently executing the fourth tranche of EPs sanctioned by the Defence Ministry.
- The long-endurance tether drone systems are contracted at an approximate value of ₹250 crores and can be used in high-altitude areas.
- Indian Army – 26/01/1950 (Founded) – New Delhi (HQ) – Army Day (January 15) – General Manoj Pande (Chief of Army Staff) – “Service Before Self” (Motto)
Daily Current Affairs - August 30, 2023 - Consolidated
- Shri Arjun Munda launched ‘Awareness Campaign and Training of Trainers for the Elimination of Sickle Cell Anaemia’
- India and New Zealand signed MoU to boost cooperation in Civil Aviation
- Bhaderwah Rajma & Ramban Sulai Honey of Jammu and Kashmir get GI Tag
- RBI appointed Bandhan Bank to disburse civil pension
- Star Health geared up for ‘Bharat’ journey
- Axis Bank launched ‘Infinity Savings Account’ with zero transaction fees
- Centre likely to infuse capital in certain regional rural banks in FY24
- YES bank partnered with fintech Zaggle for next-gen corporate credit card
- Life Insurance Corporation of India (LIC) partnered with Saraswat Cooperative Bank for bancassurance tie-up
- Asian Development Bank (ADB) and Fourth Partner Energy to Build Solar Power Plant in India
- Capital outlay for roads and renewables expected at ₹13-lakh crore in FY24 and FY25
- Securities and Exchange Board of India(SEBI) slapped Rs 45 lakh penalties on 9 entities for non-genuine trades
- New Executive Chairman of TVS Supply Chain
- Finance Industry Development Council new chairman
- Comic Book Developed by NCERT and UNESCO “Let’s Move Forward”
- Women’s Asian Hockey 5s World Cup Qualifier
- National Sports Day
- Small Industry Day 2023
- International Day of the Victims of Enforced Disappearances
- Army signed deals for 130 tethered drones and 19 tank driving simulators
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