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Daily Current Affairs – July 23 & 24, 2023

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Daily Current Affairs - Banking - July 23 & 24, 2023

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National News

Two greenfield airports in North Eastern Region have been constructed under GFA Policy, 2008

  • Government of India (GoI) has formulated a Greenfield Airports (GFA) Policy, 2008 which prescribes the procedure and conditions for development of new Greenfield airports in the country.
  • There is a two stage process of approval, i.e. ‘Site-Clearance’ followed by ‘In-Principle’ approval.
  • Two greenfield airports in North Eastern Region namely, Pakyong and Itanagar (Hollongi) have been constructed under GFA Policy, 2008.
  • Ministry of Civil Aviation has launched Regional Connectivity Scheme (RCS) – UDAN (Ude Desh ka Aam Nagrik) on 21-10-2016 to stimulate regional air connectivity including in the North Eastern Region, and making air travel affordable to the masses.
  • The Scheme is demand driven.
  • Under the UDAN Scheme, 10 airports in the North Eastern Region namely Passighat, Tezu, Itanagar (Hollongi), Jorhat, Lilabari, Rupsi, Tezpur, Shillong (Barapani), Dimapur and Pakyong have been operationalised/revived.
  • Ministry of Civil Aviation – Jyotiraditya Scindia,Union Minister (Rajya Sabha MP,MP) – General Vijay Kumar Singh,Minister of State

National Webinar on National Organ and Tissue Transplant Organisation

  • The National Organ and Tissue Transplant Organisation (NOTTO), in association with the Directorate General of Health Services, Ministry of Health and Family Welfare, Government of India, demonstrated its unwavering commitment to promoting organ and tissue donation during the Angdaan Mahotsav campaign by organizing a National Webinar on Organ and Tissue Donation.
  • The webinar, held on 22nd July 2023, marked a significant milestone during the Organ Donation month of July, garnering tremendous response from participants across the country.
  • The event, chaired by Dr. Atul Goel, Director General of Health Services, served as an enlightening platform for medical professionals, students, and other stakeholders to gather valuable insights and knowledge from esteemed experts in the field of organ transplantation.
  • The webinar featured six engaging sessions, each covering critical aspects of organ and tissue donation, fostering awareness and understanding among attendees.
  • The sessions focused on Prevention of Kidney Diseases, Brain Stem Death Declaration, Deceased Donor Management, Prevention of Liver Diseases, Legal Aspects of Organ and Tissue Donation, and Eye Donation and Corneal Transplant.
  • Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra)

International News

India signed contract with Bangladesh to modernise signalling system of Dhaka-Tongi-Joydebpur rail line

  • India and Bangladesh signed a contract for installation of computer based interlocking signalling system for Dhaka-Tongi-Joydebpur rail line at Rail Bhaban, Dhaka.
  • The contract was signed in the presence of Railway Minister of Bangladesh Md. Nurul Islam Sujon and High Commissioner of India in Bangladesh Pranay Verma.
  • Implementation of this project will ease congestion and improve efficiency of Dhaka-Tongi-Joydebour section which is one of the busiest rail lines in Bangladesh. 
  • The project is being implemented under the Line of Credit extended by India to Bangladesh.
  • The High Commissioner emphasized the importance of Indian-assisted projects in the railway sector in Bangladesh, with 17 projects worth approximately USD 2 billion accounting for 20% of the total commitment under Indian concessional loans being in Bangladesh’s railway sector.
  • Bangladesh – Dhaka (Capital) – Taka (Currency) – Mohammed Shahabuddin (President) – Sheikh Hasina (Prime Minister) – Bengali (Language)

State News

Aviation Security Control Center of CISF

  • Union Home Minister and Minister of Cooperation, Shri Amit Shah inaugurated the Aviation Security Control Center (ASCC) of Central Industrial Security Force (CISF) at Mahipalpur campus in New Delhi.
  • Aviation Sector is one of the most dynamic, publicly visible and international environment sensitive sectors.
  • CISF has done a commendable job in effectively establishing the security arrangements, right from the day of assuming the responsibility of the aviation sector.
  • The Aviation Security Control Centre (ASCC) has four components:
  • Communication and Monitoring Centre, Incident Management Centre, Aviation Research Centre and Data Centre
  • Ministry of Home Affairs – Amit Anil Chandra Shah,Union Minister (Gandhinagar,Gujarat) – Nityanand Rai, Minister of State (Ujiyarpur,Bihar), Nisith Pramanik, Minister of State (Cooch Behar, West Bengal), Ajay Kumar Mishra, Minister of State (Kheri,UP)

Gujarat government unveils Semiconductor Policy (2022-2027)

  • The Gujarat government has unveiled the Semiconductor Policy (2022-2027).
  • This strategic initiative reflects the state’s unwavering commitment to fostering accelerated and inclusive growth within the domestic semiconductor chip manufacturing sector.
  • Gujarat has achieved a pioneering milestone by becoming the first state in India to introduce a dedicated Semiconductor Policy, complementing the Central Government’s vision of Aatmanirbhar India in the semiconductor sector.
  • The State government has also unveiled an IT/ITES (Information Technology and Information Technology Enabled Services) policy tailored to invigorate the information technology and semiconductor design domains.
  • Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)


Telangana - Financial Assistance Scheme to the poor

  • The Telangana Government has decided to provide one lakh rupees financial assistance under the Financial Assistance Scheme to the poor among the minority communities, on the lines of backward classes.
  • The annual income of the applicant shall not exceed One and half lakh rupees in rural areas and Two lakh rupees in urban areas.
  • The applicant should be in the age limit of 21-55 years as on June 2nd this year.
  • Telangana – Hyderabad (Capital) – K Chandrashekar Rao (CM) – Tamilisai Soundarajan (Governor) –Telugu (Language)

Aasara pension scheme

  • Telangana State government enhanced its financial assistance to Divyangs under the Aasara pension scheme.
  • Chief Minister K Chandrasekhar Rao has decided to hike the amount of pension by 1,000 rupees per month.
  • The decision will benefit over 5 lakh pension holders under the specially-abled category.
  • The government has issued orders to this effect after a high-level review meeting increasing the amount being given to them from 3,016 rupees to 4,016 rupees per month.
  • The hike will be implemented with effect from the current month.

Mission Shakti Scooter Yojana

  • Odisha Cabinet approved Mission Shakti Scooter Yojana to provide mobility support to SHC federations.
  • The “Mission Shakti Scooter Yojana” aims at providing mobility support to Community Support Staff (CSS) and Executive Committee (EC) members of SHG federations by facilitating their access to scooters.
  • Under this scheme, eligible individuals will benefit from full interest subvention on bank loans upto Rs 1 lakh to purchase a scooter of their choice, making the transition to sustainable mobility more affordable and accessible than ever before.
  • Around 75,000 CSS comprise Community Resource Person-Community Mobilisation, Master Book Keeper, Prani Mitra, Krushi Mitra, Bank Mitra, Livelihood Support Person, Community Resource Person — Enterprise Promotion, Udyog Mitra, Business Development Service Provider including SHG members acting as Business Correspondent Agent.
  • Nearly 1,25,00 Federation leaders comprising Executive Members and Office Bearers of GP/Ward Level Federation, Block Level Federation (BLF)/City Level Federation and District Level Federation (DLF) will benefit under the scheme.
  • With a dedicated budgetary provision of Rs 528.55 crore for next 5 years, Mission Shakti is expected to make this scheme widely accessible, empowering more Community Support Staff and EC members across the State.
  • Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)

Banking and Finance

Banks write off over ₹2.09 lakh crore bad loans in FY23, ₹10.57 lakh crore written off in the last five years

  • Banks in India wrote off bad loans totaling more than ₹2.09 lakh crore during the FY23, according to information obtained through Right to Information (RTI) queries.
  • This brings the total loan write-offs by the banking sector to a significant ₹10.57 lakh crore in the past five years.
  • Loan write-offs by banks increased to ₹209,144 crore during FY23, compared to ₹174,966 crore in FY22 and ₹202,781 crore in FY21.
  • Banks have been utilising loan write-offs as a strategy to reduce the burden of non-performing assets on their books.
  • However, the recoveries from these written-off loans have been quite dismal, with only ₹30,104 crore recovered in FY21, ₹33,534 crore in FY22 and ₹45,548 crore in FY23.

Indian Bank Launches ‘Resources Acquisition Centres’

  • Indian Bank, the country’s 7th largest Public Sector Bank, takes a significant strategic step towards reinforcing its Deposit Business Portfolio with the introduction of a Dedicated Business Unit Concept, ‘Resources Acquisition Centre’ (RAC).
  • The inaugural ceremony of the first Resources Acquisition Centre took place in Mumbai (Southern).
  • The bank plans to open 20 RACs at Ultra Potential Centers in Phase-I to bolster its Deposit portfolio.
  • The primary objective of this new initiative is to strengthen the Retail Deposit Portfolio, which encompasses Current Deposit, Savings Bank, and Term Deposit accounts.
  • The dedicated RAC team will spearhead the concept of Relationship Banking, aiming to deepen existing client relationships while attracting potential New High-Value clients.
  • The bank will focus on specific customer segments, including HNIs, Government/Institutional Clients, Salaried Class, Corporates, Business community, Traders, and Pensioners.
  • Indian Bank – 15/08/1907 (Founded) – Chennai (HQ) – Shanti Lal Jain (MD & CEO) – “Your Own Bank”

Business and Economy

Centre ratifies 8.15% EPF interest for 2022-23

  • The Central government has ratified the Employees’ Provident Fund Organisation’s (EPFO) decision of March 28 to set the interest rate at 8.15 per cent for 2022-23 in respect of the provident fund accumulations in members accounts.
  • This would now lead to distribution of more than ₹90,000 crore in the five crore members’ accounts on the total principal amount of about ₹11 lakh crore, which was ₹77,424.84 crore and ₹9.56 lakh crore respectively in the FY 2021-22.
  • An EPFO order issued said that the Labour Ministry has conveyed the approval of the Central Government under Para 60(1) of the Employees Provident Fund Scheme 1952 to credit interest at 8.15 per cent for the year 2022-23.
  • The total income recommended for being distributed for 2022-23 is the highest till date.
  • The growth in income and the principal amount is more than 16% and 15% respectively as compared to last financial year 2021-22.

Agreements and MoUs signed

PMI Electro Mobility signs pact with REC

  • Electric commercial vehicles manufacturer PMI Electro Mobility has signed an agreement with public-sector enterprise REC Limited to provide finance for its commercial EVs.
  • The signing of the memorandum of understanding (MoU) took place during the “Green Finance” Summit organised by REC Limited (formerly Rural Electrification Corporation) on the sidelines of the Clean Energy Ministerial and Energy Transition Working Group Ministerial meeting.
  • As a part of the MoU, PMI will have the ability to avail Rs 480 crore of financial assistance from REC in the form of debt for funding requirements.

IDBI bank signed MoU with Ashok Leyland for channel financing partnership

  • IDBI Bank signed a Memorandum of Understanding (MoU) with commercial vehicle maker Ashok Leyland for a channel financing partnership of its dealers. The MoU is for collaboration to provide personalized financial solutions specifically designed for dealers by the partnering entities.
  • With the combined strength of IDBI Bank Ltd and Ashok Leyland, the network of AL dealers will now have financing solutions to suit their needs using digital technology.
  • Bank’s digital channel finance tool called ‘e-Supply Chain Financing’ has been purposely created to cater to the working capital needs of authorized dealers and traders affiliated with corporations.
  • IDBI Bank – 01/07/1964 (Founded) – Mumbai (HQ) – Rakesh Sharma (MD & CEO) – “Banking for All” (Tagline)


Justice Alok Aradhe takes oath as Chief Justice of Telangana High Court in Hyderabad

  • Justice Alok Aradhe has taken oath as the Chief Justice of Telangana High Court at a ceremonial programme held at Raj Bhavan in Hyderabad.
  • Earlier, Justice Alok Aradhe served as Judge in Karnataka and Madhya Pradesh High Courts.

Awards and Recognitions

8th and 9th Community Radio Awards

  • The Union Minister for Information and Broadcasting, Shri Anurag Thakur conferred the 8th and 9th National Community Radio Awards.
  • The awards were conferred during the Inaugural Session of thetwo-day Regional Community Radio Sammelan (North) which was inaugurated by the Union Minister at the Indian Institute of Mass Communication in New Delhi.
  • The National Community Radio Awards are given to those Community Radio Stations who have done exemplary work in the field of Community Radio Broadcasting through Community Centric Programmes.
  • The various categories of awards have worked as a nudge for the Community Radios to develop programmes on various themes.
  • The awards have promoted a culture of sustainability, innovation and citizen-participation.
  • For the 9th National Community Radio Awards a total of 12 Awards in 4 Categories are being given.
  • The award winning Community Radio Stations are situated in the States of Haryana, Bihar, Odisha, Uttar Pradesh, Uttrakhand, Tamil Nadu, Rajasthan and Tripura.
  • The National Community Radio Awards carry 1st, 2nd and 3rd prize for Rs, 1 Lakh, 75,000/= and 50,000/=respectively.
  • Details of awardees are given below:
  • Thematic Awards
  • First Prize: Radio Mind Tree, Ambala, Haryana; Name of Programme: Hope Jeene Ki Rah
  • Second Prize: Radio Hirakhand, Sambalpur, Odisha; Name of Programme: Adhar O PoshanBigya
  • Third Prize: Green Radio, Sabour, Bihar; Name of Programme: PoshanShrinkhla
  • Most Innovative Community Engagement Awards
  • First Prize Radio SD, Muzaffarnagar, Uttar Pradesh; Name of the programme: Hizra in Between
  • Second Prize Kabir Radio, Sant Kabir Nagar, Uttar Pradesh; Name of Program: Selfie Le Le Re
  • Third Award: Radio Mind Tree, Ambala, Haryana Name of Programme: Book Bugs
  • Promoting Local Culture Awards
  • First Prize: Voice of SOA, Cuttack, Odisha; Name of Programme: Asmita
  • Second Prize: Friends FM, Tripura, Agartala; Name of Programme: Revived a dying art: MASK & POT
  • Third Prize: PantnagarJanvani, Pantnagar, Uttarakhand; Name of Program: Dadi Ma Ka Batua
  • Sustainability Model Awards
  • First Prize: Radio Hirakhand, Sambhalpur, Odisha
  • Second Prize: VayalagaVanoli, Madurai, Tamil Nadu
  • Third Prize: VAGAD Radio “90.8”, Banswara, Rajasthan

Sports News

Satwiksairaj Rankireddy-Chirag Shetty lift Korea Open Badminton men’s doubles title

  • Asian Champions Satwiksairaj Rankireddy and Chirag Shetty continued their winning streak by lifting the Korea Open Badminton men’s doubles title in Yeosu.
  • The Indian duo defeated the world no. one pair of Fajar Alfian and Muhammad Rian Ardianto of Indonesia.
  • South Korea – Seoul (Capital) – Korean (Language) – Yoon Suk-yeol (President) – Han Duck-soo (Prime Minister) – Han Duck-soo (Currency)

Formula 1 Hungarian Grand Prix

  • Pos.





    Max Verstappen (7th Straight Win)

    Red Bull



    Lando NORRIS




    Sergio PÉREZ

    Red Bull


Important Days

National Broadcasting Day 2023

  • National Broadcasting Day in India is marked on July 23 as symbolic of the Radio Club of Bombay (established by some businessmen) making the first-ever broadcast in the country in June 1923.
  • The broadcast was followed by the setting up of the Calcutta Radio Club five months later.
  • The Indian Broadcasting Company (IBC) came into being on July 23, 1927, although it was soon facing liquidation in less than three years.

Parents’ Day 2023

  • Parents’ Day honours the real heroes of our respective ordinary lives.
  • Each year, it is celebrated on the fourth Sunday in July.
  • This year, the day is being celebrated on July 23.
  • The celebration finds its origin 29 years ago in 1994, when the former US President Bill Clinton signed a Congressional Resolution into a law for recognising the supporting and uplifting role parents play in the lives of their children.

International Self Care Day

  • Every year, International Self Care Day is celebrated on July 24.
  • The date has a specific month and date form that looks like 7/24 –denoting that self-care should be performed 24 hours a day, seven days of the week.
  • The day is dedicated to the importance of loving ourselves and taking care of our body and mind.
  • Theme – “Resilience, adaptability and thriving in adversity”.

Income Tax Day 2023

  • The Income Tax Department of India will observe Income Tax Day or ‘Aaykar Diwas’ on July 24, 2023 to commemorate the introduction of provision of income tax in the country.
  • This year observes 164th edition.
  • On July 24, 1860, Sir James Wilson introduced income tax for the first time in India.
  • ‘Aaykar Diwas’ was celebrated for the first time on July 24, 2010, to mark 150 years of income tax in India.

Daily Current Affairs - July 23 & 24, 2023 - Consolidated

  • Two greenfield airports in North Eastern Region have been constructed under GFA Policy, 2008
  • National Webinar on National Organ and Tissue Transplant Organisation
  • India signed contract with Bangladesh to modernise signalling system of Dhaka-Tongi-Joydebpur rail line
  • Aviation Security Control Center of CISF
  • Gujarat government unveils Semiconductor Policy (2022-2027)
  • Telangana – Financial Assistance Scheme to the poor
  • Aasara pension scheme
  • Mission Shakti Scooter Yojana
  • Banks write off over ₹2.09 lakh crore bad loans in FY23, ₹10.57 lakh crore written off in the last five years
  • Indian Bank Launches ‘Resources Acquisition Centres’
  • Centre ratifies 8.15% EPF interest for 2022-23
  • PMI Electro Mobility signs pact with REC
  • IDBI bank signed MoU with Ashok Leyland for channel financing partnership
  • Justice Alok Aradhe takes oath as Chief Justice of Telangana High Court in Hyderabad
  • 8th and 9th Community Radio Awards
  • Satwiksairaj Rankireddy-Chirag Shetty lift Korea Open Badminton men’s doubles title
  • Formula 1 Hungarian Grand Prix
  • National Broadcasting Day 2023
  • Parents’ Day 2023
  • International Self Care Day
  • Income Tax Day 2023

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