Daily Current Affairs – October 13, 2023
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Daily Current Affairs - Banking - October 13, 2023
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National News
51st meeting of the Executive Committee of the National Mission for Clean Ganga (NMCG)
- The 51st meeting of the Executive Committee of the National Mission for Clean Ganga (NMCG) was held under the chairmanship of Shri G. Asok Kumar, Director General, National Mission for Clean Ganga (NMCG).
- Seven projects worth around Rs 285 crore were approved in the meeting.
- For sewerage management, three projects were sanctioned – two in West Bengal and one in Uttarakhand – including a 13.8 MLD Sewage Treatment Plant (STP) with co-treatment of 18.52 KLD septage and allied works at an estimated cost of Rs. 92.83 crore to stop the untreated discharge into River Jalangi in Krishnanagar Municipal Town.
- The other project pertains to integrated Septage Management for Bansberia Municipality by creating a 15 KLD capacity Faecal Sludge Treatment Plant (FSTP).
- Another FSTP of 50 KLD was approved at a total cost of Rs. 12.65 crore in Bahadrabad, Haridwar, Uttarakhand.
- The EC also approved the extension of Composite Ecological Task Force (Ganga Task Force) to continue assisting the rejuvenation of River Ganga.
- In addition, one company of Territorial Army to the GTF was also approved for rejuvenation of River Gomti, a tributary of River Ganga.
- The total cost of the project is Rs. 134.86 crore.
- The GTF would carry out activities such as afforestation, patrolling of sensitive river areas for biodiversity protection, patrolling along river banks by boats and on foot, patrolling of ghats, monitoring of river pollution, management of public awareness/participation campaigns, assist during flood/natural calamity in the region.
State News
PM laid foundation stone in Pithoragarh, Uttarakhand
- The Prime Minister, Shri Narendra Modi laid the foundation stone and dedicated to the nation multiple development projects worth about Rs 4200 crore in sectors including rural development, road, power, irrigation, drinking water, horticulture, education, health and disaster management, among others in Pithoragarh, Uttarakhand.
- Uttarakhand – Dehradun (Winter), Gairsain (Summer) (Capital) – Pushkar Singh Dhami (CM) – Gurmit Singh (Governor) – Hindi (Language)
Schemes
Setu Bandhan Scheme
- Union Minister for Road Transport and Highways Shri Nitin Gadkari in a post said in Arunachal Pradesh under the Setu Bandhan Scheme approval has been granted for 7 bridge projects with a cumulative cost of ₹118.50 Crores, in the fiscal year 2023-24.
- The Setu Bandhan works have been introduced to improve inter-state connectivity, especially on the rural areas at the borders where state roads do not get the required attention.
- On January 17, 2023, Madhya Pradesh Public Works Minister Gopal Bhargava informed that the Union Ministry of Road Transport and Highways has approved four important development projects for Madhya Pradesh in the Setu Bandhan Scheme.
- Ministry of Road Transport and Highways – Nitin Gadkari,Union Minister (Nagpur,Maharashtra) – General Vijay Kumar Singh
Kerala government launched insurance scheme for MSMEs
- The Kerala government has announced an insurance scheme dedicated to the MSMEs in the state against business risks and instil confidence in their operations.
- The Department of Industries and Commerce has formalised agreements with four public sector insurance companies to provide tailored products for the MSMEs of Kerala.
- Under the insurance scheme, a wide range of risks would be covered including natural disasters, fire accidents, theft, accidents and market fluctuations, curbing the risk of devastating financial losses for businesses.
- All the enterprises with Udyam registration in Kerala and enrolled in the “Bharat Sookshma/ Laghu Udyog scheme” from any of the four insurance companies before April 1, 2023, are eligible under the scheme.
- Kerala – Thiruvananthapuram (Capital) – Pinarayi Vijayan (CM) – Arif Mohammad Khan (Governor) – Malayalam (Language)
Banking and Finance
RBI Monetary Penalty
Bank | Penalty | Reason | Section |
Paytm Payments Bank Limited | ₹5.39 Crore | for non-compliance with certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’, ‘RBI Guidelines for Licensing of Payments Banks’ read with ‘Enhancement of maximum balance at end of the day’, ‘Cyber security framework in banks’ read with ‘Guidelines on reporting of unusual cyber security incidents’ and ‘Securing mobile banking applications including UPI ecosystem’. | Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949 |
Janata Urban Co-operative Bank Limited, Wai, Maharashtra | ₹1.00 lakh | for non-compliance with the directions issued by RBI on ‘Frauds Monitoring and Reporting Mechanism’ | Section 47 A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 |
The Jawhar Urban Co-operative Bank Limited, Palghar, Maharashtra | ₹1.00 lakh | for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC)’ | Section 47 A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 |
Finquest Financial Solutions Private Limited, Mumbai, Maharashtra | ₹1.20 lakh | for non-compliance with the directions issued by RBI on ‘Know Your Customer (KYC) Directions, 2016’ and ‘Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016’ | clause (b) of sub-section (1) of Section 58G read with clause (aa) of sub-section (5) of Section 58B of the Reserve Bank of India Act, 1934 |
Annasaheb Magar Sahakari Bank Ltd., Pune, Maharashtra | ₹4.00 lakh | for non-compliance with certain provisions of RBI directions on ‘Know Your Customer (KYC) Direction, 2016’, ‘Maintenance of Deposit Accounts – Primary (Urban) Co-operative Banks’, and ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters – UCBs’ | Section 47 A (1) (c) read with Sections 46 (4) (i) and 56 of the Banking Regulation Act, 1949 |
RBI cancelled certificate of registration of Ind Bank Housing
- The Reserve Bank of India (RBI) has cancelled the Certificate of Registration of Chennai-based Ind Bank Housing Ltd.
- Indian Bank and HUDCO (Housing and Urban Development Corporation Ltd) are major shareholders in the housing finance company, holding 51% and 25% stake, respectively.
- The company was set up in 1991.
- The housing finance company’s net loss widened to ₹55.78 lakh in FY23 against ₹12.93 lakh in FY22.
- The balance loss carried to balance sheet stood at ₹135.70 crore in FY23 against ₹135.15 crore in FY22, per the HFC’s annual report.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
Business and Economy
World Co-operative Economic Forum formed in India
- On the lines of the World Economic Forum, some co-operative sector leaders and experts have formed the World Cooperative Economic Forum (WCEF), to be based in New Delhi, claiming to provide voice to over three million co-operatives spread over all countries.
- The WCEF will endeavour to promote cooperative thinking and cooperative movement, in addition to raising issues and concerns of the sector with governments and other stakeholders around the globe.
- Dileep Bhai Sanghani, President of the National Cooperative Union of India (NCUI), announced at a co-operative sector event in Pune, as he is one of the founder members of WCEF.
- Other members of the WCEF include Binod Anand, a member of the Committee on Legal Guarantee of MSP; Rakesh Arrawatia, a professor at the Institute of Rural Management Anand (IRMA); and Ashish Anand, founder of Whrrl, a company working in warehouse receipt finance.
- World Economic Forum (WEF) – 24/01/1971 (Founded) – Cologny, Switzerland (HQ) – Klaus Schwab (Executive Chairman)
Agreements and MoUs signed
SIDBI signed MoU with IPPB
- India Post Payments Bank (IPPB) and the Small Industries Development
- Bank of India (SIDBI) entered into a strategic partnership to promote extension of formal financial services and other support services to MSMEs, especially enterprises in rural and remote areas of the country.
- Sivasubramanian Ramann, CMD SIDBI and J. Venkatramu, MD & CEO, IPPB signed an MoU.
- The partnership aims to leverage IPPB’s rural reach and deep connect with village level communities and SIDBI’s lending and credit risk assessment models in reaching to informal and micro enterprises in rural and remote areas as may be permitted under the extant regulations.
- IPPB shall also support SIDBI’s customers in digitising the payment mechanisms through its merchant onboarding system and collection solutions like UPI, QR based solutions, etc.
- The two Institutions will also undertake joint programmes to upgrade skills of Dak Sevaks in supporting credit and other services to micro enterprises.
- They will jointly work together to identify other areas of mutual interest and undertake the various activities to support MSMEs and MSME ecosystem across the country with special focus on informal micro enterprises.
- Small Industries Development Bank of India (SIDBI) – 02/04/1990 (Founded) – Lucknow,UP (HQ) – Sivasubramanian Ramann (Chairman & MD)
Appointments
Chairman of Azure Power
- Azure Power Global Limited had announced that Non-Executive Director, M.S. Unnikrishnan, had been appointed as Chairman of the Board of Azure Power Global Limited and Azure Power India Private Limited after Alan Rosling resigned with immediate effect.
Marylebone Cricket Club (MCC) World Cricket Committee
- Former Sri Lankan captain and batting legend, Kumar Sangakkara and former Hampshire captain-turned-broadcaster, Mark Nicholas taken over as Chairman and President of Marylebone Cricket Club (MCC) World Cricket Committee respectively.
- Sangakkara had served as the President of the MCC since 2021, will now be replacing the former English captain, Mike Gatting who served for six years in the role as the Chair of the World Cricket Committee.
- Marylebone Cricket Club (MCC) – 1787 (Founded) – Lord’s Cricket Ground, London
Ranks and Indices
Global Hunger Index 2023
- India has been ranked at 111 out of 125 countries in the Global Hunger Index (GHI) 2023, further lowering its position to 107 (out of 121 countries) in 2022.
- The GHI 2023 had also put India’s child wasting rate at 18.7% highest in the world during 2018–22 and said it reflected acute undernutrition.
- The rate of undernourishment in India stood at 16.6% and under-five mortality at 3.1%.
- The report also said that the prevalence of anaemia in women aged between 15 and 24 years stood at 58.1%.
- The overall score for India has been put at 28.7 in the ranking, which is categorised as serious.
- India’s neighbouring countries, Pakistan (102), Bangladesh (81), Nepal (69th), and Sri Lanka (60), have fared better than them in the index.
- The Global Hunger Index is a tool for comprehensively measuring and tracking hunger at global, regional, and national levels.
- The scores are based on the values of four component indicators: undernourishment based on caloric intake, child (under age five) stunting based on height, child (under age five) wasting based on weight, and child mortality (before age five).
- Based on the values of the four indicators, a GHI score is calculated on a 100-point scale reflecting the severity of hunger, where 0 is the best possible score (no hunger) and 100 is the worst.
- Top Five Countries – Belarus, Bosnia & Herzegovina, Chile, China and Croatia.
- Bottom Countries – Chad, Niger, Lesotho, Congo, Yemen, Madagascar, and Central African Republic.
Forbes “World’s Best Employers 2023” List
- India’s largest integrated energy conglomerate, NTPC Limited, has been recognized as one of the “World’s Best Employers 2023” in the Forbes World’s Best Employers list 2023.
- It ranked 261st out of top 700 companies in the World ranking and is the only Indian PSU to figure in the list.
- Top list – Samsung Electronics, Microsoft, Alphabet, Apple and Ferrari.
Awards and Recognitions
Saraswati Samman 2022
- Noted author and activist Sivasankari was honoured with the prestigious Saraswati Samman for the year 2022 for her memoir written in Tamil, Surya Vamsam, at the National Museum in Delhi.
- Former Union minister and a former recipient of the award, M Veerappa Moily, who was the chief guest at the event, hailed Sivasankari as a national icon.
- The Saraswati Samman, instituted by the KK Birla Foundation, carries a plaque, a citation, and a cash prize of ₹15 lakhs.
- Sivasankari is the 32nd recipient of the award.
- Harivansh Rai Bachchan was the 1st recipient of the award in 1991 for his Autobiography in four volumes (Autobiography) in Hindi.
- Ram Darash Mishra was the 31st recipient of the award for his “Main to Yahan Hun” (Poetry) in Hindi.
World Athletics nominated Neeraj Chopra for Athlete of the Year award for this year
- World Athletics has nominated Neeraj Chopra for the Men’s Athlete of the Year award 2023.
- World Athletics has confirmed a list of 11 nominees, selected by an international panel of athletics experts, comprising representatives from all six continental areas of World Athletics.
Obituary
Sartaj Singh passed away
- Former Union minister and senior Bharatiya Janata Party (BJP) leader Sartaj Singh passed away at 83.
- He was elected to Lok Sabha five times from the Hoshangabad seat.
- He was also elected as an MLA twice later.
- Singh served as the Union Health Minister in 1996 when the government led by Atal Bihari Vajpayee was in power for 13 days.
- He served as the Forest Minister from 2013 to 2018 in the Madhya Pradesh Cabinet led by Shivraj Singh Chouhan.
Important Days
International Day for Disaster Risk Reduction
- International Day for Disaster Risk Reduction is annually observed on October 13.
- The day is celebrated to encourages every citizen and government to take part in building more disaster-resilient communities and nations.
- The United Nations General Assembly designated October 13 as International Day for Natural Disaster Reduction as part of its proclamation of International Decade for Natural Disaster Reduction.
- In 2009, the UN General Assembly decided to designate October 13 as the official date for this day, and also changed the name to International Day for Disaster Reduction.
- United Nations General Assembly – 1945 (Founded) – New York City (HQ) – Dennis Francis (President)
World Egg Day
- International Conscience Day is celebrated on April 5 to promote peace.
- Conscience is the ability of a person to distinguish between what’s right and what’s wrong.
- A global campaign for the Declaration of International Day of Conscience was launched at the United Nations, New York on February 5, 2019 by the Federation of World Peace and Love (FOWPAL).
- The day was established by the United Nations General Assembly in 2019.
Daily Current Affairs - October 13, 2023 - Consolidated
- 51st meeting of the Executive Committee of the National Mission for Clean Ganga (NMCG)
- PM laid foundation stone in Pithoragarh, Uttarakhand
- Setu Bandhan Scheme
- Kerala government launched insurance scheme for MSMEs
- RBI Monetary Penalty
- RBI cancelled certificate of registration of Ind Bank Housing
- World Co-operative Economic Forum formed in India
- SIDBI signed MoU with IPPB
- Chairman of Azure Power
- Marylebone Cricket Club (MCC) World Cricket Committee
- Global Hunger Index 2023
- Forbes “World’s Best Employers 2023” List
- Saraswati Samman 2022
- World Athletics nominated Neeraj Chopra for Athlete of the Year award for this year
- Sartaj Singh passed away
- International Day for Disaster Risk Reduction
- World Egg Day
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