Daily Current Affairs – July 28, 2023
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Daily Current Affairs - Banking - July 28, 2023
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National News
"Familiarisation Programme for Independent Directors"
- The Indian Institute of Corporate Affairs (IICA), the apex think tank for the Ministry of Corporate Affairs, Government of India, commenced the “Two Day Familiarisation Programme for Independent Directors” underscoring its commitment to advancing corporate governance excellence in India, aligning with the government’s vision.
- The programme is coordinated by Shri. Manoj Singh, Chief Programme Executive, SoCGPP, IICA, and Shri. Mathew John, Programme Manager, National CSR Awards Secretariat, IICA.
- Ministry of Corporate Affairs – Nirmala Sitharaman, Union Minister (Rajya Sabha MP, Karnataka) – Raja Rao Inderjit Singh Yadav, Minister of State (Gurgaon,Haryana)
NHA to boost digital health adoption with 100 microsite projects in India
- To promote digital health and improve healthcare accessibility for all citizens, the National Health Authority (NHA) has introduced the 100 Microsites Project as part of the Ayushman Bharat Digital Mission (ABDM).
- The project envisions creating microsites, which are clusters of small and medium-sized clinics, nursing homes, hospitals (preferably with less than 10 beds), labs, pharmacies, and other healthcare facilities that are fully enabled with ABDM capabilities to offer digital health services to patients.
- The main objective of the microsites is to establish self-contained ecosystems within specific geographic areas where complete ABDM adoption is achieved and the patient’s entire medical journey is digitised.
- These Microsites will be established nationwide in various states and union territories, primarily implemented by state mission directors of Ayushman Bharat Digital Mission, with overall guidance and financial support provided by the NHA.
- To set up and run these microsites, the State/UT may collaborate with a development partner and interfacing agency.
- Within each microsite, all healthcare professionals, particularly from the private sector, serving across different systems of medicine, will be registered on ABDM modules such as the Healthcare Professionals Registry (HPR) and Health Facility Registry (HFR).
- Furthermore, ABDM-enabled applications will be installed in these facilities to enhance digital health services. Patients visiting these centers will also become a part of ABDM, with their health records linked to their Ayushman Bharat Health ID (ABHA).
- National Health Authority (NHA) – 23/05/2018 (Founded) – New Delhi (HQ) – Dr. R.S. Sharma (CEO)
International News
India & Japan review progress in Special Strategic & Global Partnership; look for collaboration in critical & emerging technologies
- External Affairs Minister Dr. S Jaishankar and his Japanese counterpart Hayashi Yoshimasa reviewed the progress made in the India-Japan Special Strategic and Global Partnership.
- The 15th India-Japan Foreign Ministers’ Strategic Dialogue was held in New Delhi.
- The Ministers engaged in comprehensive discussions covering a wide range of issues of bilateral, regional, and global significance.
- They highlighted the importance of further strengthening India-Japan partnership based on shared values and principles.
- The Ministers emphasized the importance of achieving the target of 5 trillion yen Japanese investment in India in the period 2022-27.
- They explored potential areas of collaboration in critical and emerging technologies, including semiconductors, resilient supply chains, and digital public infrastructure, among others.
- The Ministers also expressed satisfaction with the strengthening of defence and security cooperation, including regular exercises and staff talks between all three services.
- They also discussed ways forward to deepen Defence Equipment and Technology Cooperation.
- The Ministers exchanged views on regional and global issues of interest.
- They emphasized the crucial role of a strong and enduring partnership between India and Japan in ensuring a free, open, and prosperous Indo-Pacific region that is inclusive and rules-based.
- The Ministers also discussed cooperation under multilateral and plurilateral frameworks, including the Quad.
- They agreed on the need for early reforms of the UNSC.
- They also exchanged views on their respective G20 and G7 presidencies.
- Noting the celebration of 2023 as the Year of India-Japan Tourism Exchanges with the theme of ‘Connecting Himalayas with Mount Fuji’, the Ministers acknowledged the importance of people-to-people exchanges.
- They also discussed ways to promote the movement of skilled human resources from India to Japan.
- Japan – Tokyo (Capital) – Japanese yen (Currency) – Naruhito (Emperor) – Fumio Kishida (Prime Minister) – Japanese (Language)
State News
India to give 50 per cent financial assistance to firms for setting up semiconductor manufacturing facility in country
- Prime Minister Shri Narendra Modi inaugurated Semicon India 2023 conference in Gandhinagar, Gujarat.
- He said, Technology firms will be given 50 per cent financial assistance for setting up semiconductor manufacturing facility the country.
- 300 colleges in India have been identified for starting courses on semiconductor design.
- Prime Minister Narendra Modi also inaugurated and laid the foundation stone for projects worth over two thousand crores.
- The projects inaugurated today include the State’s first greenfield International airport at Hirasar near Rajkot and the two developmental projects under the ambitious irrigation scheme Sauni Yojana.
- The new airport has been built over 1500 acres of land at the cost of 1,405 crore rupees.
- Apart from this, the Prime Minister also inaugurated and laid the foundation stone for various projects worth over 860 crore rupees at Rajkot.
- Gujarat – Gandhinagar (Capital) – Bhupendrabhai Patel (CM) – Acharya Devvrat (Governor) – Gujarati & Hindi (Language)
Amazon India announces to open first floating store in Dal lake
- As a part of last point delivery programme ‘I Have Space’, Amazon India has announced to open its first ever floating store in famous Dal Lake in Srinagar.
- The store should be open in a house boat and will provide deliveries to its customers every day in Srinagar.
- Murtaza Khan Kashi, owner of houseboat Selec Town, will deliver packages every day to customers at the doorstep of their houseboats as part of the onboarding.
- Launched in 2015, the ‘I Have Space’ programme has 28,000 neighbourhood and kirana partners in about 420 towns and cities in India.
- It partners with local stores and small businesses for delivering products within a 2-4 kilometres radius.
- Jammu & Kashmir – Srinagar (May–October) & Jammu (Nov-April) (Capital) – Manoj Sinha (Lieutenant Governor) – Urdu, Kashmiri, Dogri, Hindi, English (Language)
TN govt launches green initiatives with United Nations Environment Programme
- The Tamil Nadu government launched several green initiatives in partnership with the United Nations Environment Programme (UNEP).
- The initiatives by the State Environment, Climate Change and Forests department were launched by Inger Anderson, Executive Director, United Nations Environment Programme (UNEP) at a function held in Kalaivanar Arangam.
- In March 2023, the UNEP and Tamil Nadu government signed a three-year agreement to help Tamil Nadu deliver clean, efficient, and equitable cooling and adapt to rising extreme heat.
- As per the pact, UNEP and the Government of Tamil Nadu will cooperate on a range of issues, including sustainable cooling, plastic waste management, and environmental education.
- About 25 schools have been selected to take up various green measures like energy efficiency by using solar lighting and use of solar pumps, setting up solar borewells, adapting rainwater harvesting, composting, creating vegetable gardens, medicinal plant gardens and also raising fruit-bearing trees, reducing water use, recycling of wastewater, creating a plastic-free environment, etc.
- These schools will inspire other education institutions, and they will be ranked on a green index to create a repository of information on green initiatives.
- An amount of Rs 5 crore has been allocated for this scheme.
- Tamil Nadu’s plastic waste management movement the “Meendum Majappai” and UNEP’s Tide Turner’s Plastic Challenge, together are two initiatives that can create a ripple in reaching out to the community and creating a change in society’s behaviour on single-use plastic.
- Tamil Nadu – Chennai (Capital) – MK Stalin (CM) – RN Ravi (Governor) – Tamil (Language)
Himanta inaugurated and laid foundation stone for infra projects worth over Rs 555 crores
- Assam Chief Minister Himanta Biswa Sarma inaugurated and laid the foundation stone for infrastructure projects worth over Rs 555 crore in Bongaigaon district.
- Sarma inaugurated a bridge over River Aie on the Borghola-Kirtanpara Road built at a cost of Rs 69 crore, an ecopark and connected wetland development project worth Rs 15.69 crore, statues of Chilarai and Lachit Borphukan built at a cost of Rs 14 lakh and Rs 8 lakh respectively on the premises of the district library and a conference hall cum convention centre built at Rs 17.94 crore.
- He also laid the foundation stone for development and improvement of roads, at a cost of Rs 417 crore, under Asom Mala scheme, a mini stadium in Barshangaon for which Rs 11.99 crore has been allocated and infrastructure development of Sri Raghunath temple at Srijangram for Rs 6.20 crore.
- Assam– Dispur (Capital) – Himanta Biswa Sarma (CM) – Gulab Chand Kataria (Governor) – Assamese & Boro (Language)
Schemes
TN CM launches scheme to provide 50,000 more new farm power connections
- Tamil Nadu Chief Minister M K Stalin inaugurated a scheme to provide 50,000 more free agriculture electricity connections to farmers.
- Stalin, inaugurating the three-day ‘Velan Sangamam 2023,’ a farm expo, gave away awards to farmers who excelled in cultivation of traditional paddy varieties.
- The Chief Minister announced extension of deadline for farmers till August 15 to avail the Rs 75 crore Kuruvai (short-term crop) Special Package Scheme which, among other aspects, covers free of cost distribution of urea and potash.
- In the past two years, 1.50 lakh new farm power connections have been provided to farmers to facilitate extension of area under cultivation using ground water resources.
- The orders allotting new connections to 12 farmers, marking the launch of the scheme to provide 50,000 new agriculture-electricity connections.
- The farm connections are provided free of cost to farmers.
Banking and Finance
Max Life Appointed as Lead Insurer for Uttar Pradesh Under IRDAI's State Insurance Plan
- Max Life Insurance Company Ltd. has been appointed as the “Lead Insurer” for the State of Uttar Pradesh by the Insurance Regulatory and Development Authority of India (IRDAI).
- Under the State Insurance Plan, IRDAI has initiated a collaborative platform with insurers by assigning two states to each insurer to enhance financial awareness and drive insurance inclusion.
- Supporting this vision, Max Life aims to create awareness, enhance accessibility and drive affordable insurance coverage across Uttar Pradesh in a phased manner.
- The Company has initiated digital insurance awareness activities in Chandauli and Varanasi in the first phase, reaching more than 1,45,000 individuals.
- The Company plans to roll out similar initiatives panning other districts of Balrampur, Bahraich, Chitrakoot, Fatehpur, Kaushambi, Siddharthnagar, and Shravasti, in the next six months.
- These districts are also a part of the Government of India’s ‘Aspirational Districts Programme’ that aims to increase financial inclusion and skill development.
- Insurance Regulatory and Development Authority of India (IRDAI) – 1999 (Founded) – Hyderabad (HQ) – Debasish Panda (Chairman) – Ministry of Finance (Under)
ADB, India sign $295 million loan to upgrade state highways in Bihar
- The Asian Development Bank (ADB) and the Government of India signed agreement for a $295 million loan to upgrade around 265 kilometer state highways with climate and disaster resilient design, and road safety elements in the state of Bihar.
- The signatories to the agreement for the Enhancing Connectivity and Sustainability in Bihar Roads Project were Mr. Vumlunmang Vualnam, Additional Secretary, Department of Economic Affairs, who signed on behalf of Government of India and Mr. Takeo Konishi, Country Director for ADB in India, who signed for ADB.
- The project supports the Government of Bihar’s programme to upgrade all state highways to standard two-lane widths and improve road safety.
- The improved roads will enhance connectivity in some of Bihar poorest rural districts and promote access to health and education facilities, and markets to improve people’s lives.
- Since 2008, ADB has provided five loans totaling $1.63 billion to the state of Bihar, for upgradation of about 1,696 kilometer state highways and construction of a new bridge over the Ganga River.
ADB, India sign $200 million loan for expanding urban services in Rajasthan
- The Government of India and Asian Development Bank (ADB) signed a $200 million loan as additional financing for the ongoing Rajasthan Secondary Towns Development Sector Project to expand water supply and sanitation systems and enhance urban resilience and heritage living in selected towns.
- The signatories to the loan agreement were Mr. Vumlunmang Vualnam, Additional Secretary, Department of Economic Affairs, Ministry of Finance, for the Government of India, and Takeo Konishi, Country Director of ADB’s India Resident Mission, for ADB.
- The ongoing project—approved in September 2020—has so far laid 1,451 kilometer (km) of water supply pipes, 1,110 km of sewer pipes, and connected 68,098 households to water services in selected secondary towns in Rajasthan.
- The additional financing will improve water supply systems in at least seven towns by converting all groundwater sources to surface water, replacing about 700 km of leaking water pipes, installing 1,400 km of new water supply pipelines, and providing 77,000 households connections with water meters.
- It will also establish three new water treatment plants.
- At least eight towns will be covered for improvement to sanitation systems by rehabilitating at least 580 km of sewers, building seven sewage treatment plants with co-treatment units to process fecal sludge and septage, and connecting at least 54,000 households to the sewage system.
- A new feature in ADB’s support is the water facility development for urban resilience improvement and heritage-sensitive urban development in at least eight heritage towns or towns with strong tourism potential.
- This includes the reconstruction of water structures with heritage value, incorporating nature-based solutions to improve climate resilience.
- It will also rehabilitate at least 20 heritage or heritage-like structures to improve the living environment and attract more tourists.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 68 countries
LIC's new plan Jeevan Kiran offers life cover with premium return
- Life Insurance Corporation of India (LIC) has introduced a new life insurance plan called ‘LIC Jeevan Kiran’, which offers both life cover and return of premium.
- The plan caters to 18 to 65-year-old subscribers.
- Under this policy, policyholders have the freedom to choose the policy term, ranging from 10 to 40 years, based on their specific financial goals and requirements.
- The minimum instalment premium for regular premium policies is ₹3,000 and for single premium policies is ₹30,000.
- The policy has two optional riders – the accidental death and disability benefit rider and the accident benefit rider, which are available at an additional premium.
- In the event that the policyholder survives until the maturity date and the policy remains in force, LIC’s Jeevan Kiran allows for a refund of total premiums paid (excluding extra premium, rider premium, and taxes) on maturity.
- In the event of the policyholder’s death during the policy term, and the policy is in force, the sum assured on death will be payable, for regular premium – either seven times the annualised premium or 105% of the “total premium paid” up to the date of death or the basic sum assured.
- For single premium, it will be higher of the 125% single premium or basic sum assured.
- Life Insurance Corporation of India (LIC) – 01/09/1956 (Founded) – Mumbai (HQ) – Siddhartha Mohanty (Chairman)
Business and Economy
India set to be third-largest economy by FY28: SBI Research
- India will become the third largest economy by FY28, two years earlier than projected, said SBI Research economists.
- India will surpass Japan and Germany at the current growth rate and account for a 4% share of global GDP.
- SBI economists said India will likely grow 8.1% in the first quarter of FY24, pushing the overall growth rate to 6.5%.
- India recorded a 13.5% growth in the first quarter of FY23.
- The forecast aligns with RBI projections of 6.5% growth in FY24 but is more optimistic than the International Monetary Fund’s revised forecast of 6.1%.
- Earlier this week, the IMF revised its growth forecast upwards by 0.2 percentage points on the back of strong domestic investment.
Science and Technology
AMD to invest Rs 3,300 crore in India in five years
- High performance adaptive computing major AMD announced an investment of USD 400 million (about Rs 3,300 crore) in India over five years, and opening of a 500,000-square-foot R&D campus in Bengaluru, which it said is its largest in the world.
- The new AMD campus is expected to open before the end of 2023 and will feature extensive lab space, advanced collaboration tools and seating configurations for teams.
- AMD has been active in the Indian semiconductor ecosystem since the establishment of its first site in New Delhi in 2001.
- It has offices in 10 locations across Bengaluru, Delhi, Gurgaon, Hyderabad and Mumbai.
Acquisitions and Mergers
CCI approves proposed combination involving acquisition of shareholding up to 59.38% of Unichem Laboratories Limited by Ipca Laboratories Limited
- The Competition Commission of India (CCI) approves the proposed combination involving acquisition of shareholding up to 59.38% of Unichem Laboratories Limited by Ipca Laboratories Limited.
- Ipca Laboratories Limited (Acquirer) is a pharmaceutical company that manufactures formulations and active pharmaceutical ingredients for various therapeutic segments.
- Unichem Laboratories Limited (Target) is active in the sale of formulations, active pharmaceutical ingredients, intermediates, and contract manufactured finished formulation dosages, globally.
- Competition Commission of India (CCI) – 14/10/2003 (Founded) – New Delhi (HQ) – Ravneet kaur (Chairperson)
Awards and Recognitions
Industrialist Ratan Tata to get Maharashtra govt's first 'Udyog Ratna' award
- The Maharashtra government has decided to confer the first ‘Udyog Ratna’ award on veteran industrialist and chairman emeritus of Tata Sons, Ratan Tata.
- Awards for young entrepreneur, woman entrepreneur and Marathi entrepreneur will also be given.
- Just like the Maharashtra Bhushan award, which is presented to distinguished persons, the state government has decided to confer the Udyog Ratna award to Ratan Tata.
- Maharashtra – Mumbai (Capital) – Eknath Shinde (CM) – Ramesh Bais (Governor) – Marathi (Language)
Sports News
Union Sports Minister Anurag Singh Thakur inaugurates Asian Youth and Junior Weightlifting Championships
- Union Minister of Youth Affairs and Sports Shri Anurag Singh Thakur inaugurated the Asian Youth and Junior Weightlifting Championships 2023, which is being held in India for the first time at Gautam Buddha University, Greater Noida.
- The international event will see participation of more than 30 Indian weightlifters, including many Khelo India Athletes who in the past month alone gave India its best ever performance at the Weightlifting Commonwealth Championships by winning 61 medals in total.
- 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
World hepatitis day 2023
- World Hepatitis Day, observed on July 28 every year, aims to raise global awareness of hepatitis a group of infectious diseases known as hepatitis A, B, C, D, and E and encourage prevention, diagnosis and treatment.
- Hepatitis affects hundreds of millions of people worldwide, causing acute and chronic disease and killing close to 1.34 million people every year.
- Hepatitis can cause inflammation of the liver both acutely and chronically, and can kill a person.
- In some countries hepatitis B is the most common cause of cirrhosis and may also cause liver cancer.
- The history of World Hepatitis Day dates back to its initial observation on May 19, which was later shifted to July 28 in 2010.
- The World Hepatitis Alliance, established in 2007, organized the first community-driven World Hepatitis Day in 2008.
- Theme – ‘One Life, One Liver’
World nature conservation day 2023
- World Nature Conservation Day is observed on July 28 to create awareness about the importance of protecting the environment.
- It’s an important occasion to educate people about the challenges of climate change and the necessity of conservation of natural resources.
- Theme – ‘Forests and Livelihoods: Sustaining People and Planet’
Daily Current Affairs - July 28, 2023 - Consolidated
- “Familiarisation Programme for Independent Directors”
- NHA to boost digital health adoption with 100 microsite projects in India
- India & Japan review progress in Special Strategic & Global Partnership; look for collaboration in critical & emerging technologies
- India to give 50 per cent financial assistance to firms for setting up semiconductor manufacturing facility in country
- Amazon India announces to open first floating store in Dal lake
- TN govt launches green initiatives with United Nations Environment Programme
- Himanta inaugurated and laid foundation stone for infra projects worth over Rs 555 crores
- TN CM launches scheme to provide 50,000 more new farm power connections
- Max Life Appointed as Lead Insurer for Uttar Pradesh Under IRDAI’s State Insurance Plan
- ADB, India sign $295 million loan to upgrade state highways in Bihar
- ADB, India sign $200 million loan for expanding urban services in Rajasthan
- LIC’s new plan Jeevan Kiran offers life cover with premium return
- India set to be third-largest economy by FY28: SBI Research
- AMD to invest Rs 3,300 crore in India in five years
- CCI approves proposed combination involving acquisition of shareholding up to 59.38% of Unichem Laboratories Limited by Ipca Laboratories Limited
- Industrialist Ratan Tata to get Maharashtra govt’s first ‘Udyog Ratna’ award
- Union Sports Minister Anurag Singh Thakur inaugurates Asian Youth and Junior Weightlifting Championships
- World hepatitis day 2023
- World nature conservation day 2023