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Daily Current Affairs – September 16, 2023

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Daily Current Affairs - Banking - September 16, 2023

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National News

14th edition of World Spice Congress

  • The 14th edition of the World Spice Congress (WSC) began at Vashi in Navi Mumbai.
  • The three-day event has been organized by the Spices Board India, Ministry of Commerce and Industry, in association with various trade bodies and export forums.
  • Theme – “VISION 2030: S-P-I-C-E-S”.
  • The event has the presence of policymakers, regulatory authorities, spice trade associations, government officials as well as technical experts from G20 countries, among others.
  • An exhibition highlighting the variety of spices and value-added spice products as well as innovative technologies and solutions in the spices industry is also arranged as part of WSC 2023.
  • Spices Board of India – 26/02/1987 (Founded) – Kochi (HQ) – A G Thankappan (Chairman) – Spices Board Act 1986

State News

Odisha Cabinet approved transport network programme

  • Odisha Cabinet chaired by Chief Minister Naveen Patnaik approved the Scheme titled ‘Location Accessible Multi-modal Initiative’ (LAccMI) to establish a seamless public transport network across the State from GP level to the State Capital.
  • The project cost is estimated to be approximately Rs.3,178 crores in the first three years of bus operation from 2023-24 to 2025-26.
  • Buses will connect all gram panchayats, block headquarters, district headquarters, major cities and economic hubs across the State.
  • The LAccMI Scheme would be implemented in a phased manner.
  • About 1000 buses would be deployed under the scheme.
  • The tenure of the scheme would be 10 years extendable by 2 years.
  • Odisha – Bhubaneswar (Capital) – Naveen Patnaik (CM) – Ganeshi Lal (Governor) – Odia (Language)

Schemes

Pradhan Mantri Matsya Sampada Yojana

  • Union Minister Fisheries, Animal Husbandry & Dairying, Shri Parshottam Rupala launched a unique program, Matsya Sampada Jagrukta Abhiyan on the occasion of completion of three successful years of implementation of Pradhan Mantri Matasya Sampada Yojna (PMMSY).
  • The progam organised by Department of Fisheries at Brilliant Convention Center, Indore was also graced by Minister of State for Fisheries, Animal Husbandry & Dairying, Dr. Sanjeev Kumar Balyan and Dr. L. Murugan. 
  • The Jagrukta Abhiyan for enhancing outreach across India and ensuring ‘last mile connectivity’ will run for 6 months from Sep 2023 to Feb 2024 during which 108 events will be organised.
  • The main objectives of the Matsya Sampada Jagrukta Abhiyan are dissemination of information and knowledge about 9 Years of achievements of the GoI, highlighting success stories of the beneficiaries and reaching out to 2.8 crore fish farmer and 3477 coastal villages.
  • This bouquet of 239 projects approved under PMMSY were from 15 states of Arunachal Pradesh, Assam, Bihar, Chhattisgarh, Goa, Haryana, Jharkhand, Ladakh, Madhya Pradesh, Maharashtra, Meghalaya, Mizoram, Tripura, Uttar Pradesh and Uttarakhand with a total investment of Rs 103.11 crores.
  • Pradhan Mantri Matsya Sampada Yojana (PMMSY) was launched on 10th September 2020.
  • The aim of the scheme is to bring about Blue Revolution through the sustainable development of the fisheries sector over a period of five years (2020-2025)
  • The scheme was announced in the union budget 2019-20.
  • Ministry of Fisheries, Animal Husbandry and Dairying – Parshottam Rupala,Union Minister (Rajya Sabha MP,Gujarat) – Sanjeev Balyan, Minister of State (Muzaffarnagar,UP), L. Murugan, Minister of State (Rajya Sabha MP,MP)

Mukhyamantri Sampoorna Pushti Yojana

  • Odisha Chief Minister Naveen Patnaik launched the ‘Mukhyamantri Sampoorna Pushti Yojana’ in the state for fulfilling the nutritional needs among the mothers, adolescent girls and children, in addition to this CM also launched the ‘Pada Pushti Yojana’.
  • Under the scheme provisions have been made to provide nutritional supplements to all adolescent girls between the ages of 15 to 19 years and additional dry food to pregnant women and expecting mothers, in addition with, the provision has been made to provide complete food to severely malnourished children, vitamin-enriched Chhatua (roasted gram glour) and eggs for moderately malnourished children and severely underweight children.
  • Under the ‘Pada Pushti Yojana’ children in remote and tribal areas will be provided with high-quality-cooked food in their enclaves and villages.

Banking and Finance

'IB SAATHI' by Indian Bank

  • Indian Bank Managing Director and CEO S L Jain launched the ‘IB SAATHI’.
  • The full form of IB SAATHI is IB Sustainable Access and Aligning Technology for Holistic Inclusion.
  • It will enable bank customers to enjoy an improved user experience thanks to the simplified delivery of services, including both basic and value-added offerings.
  • The correspondents of the bank would extend their services straight to the customers’ doorsteps.
  • Indian Bank, with the help of this revamped model, is going to provide basic banking services for at least four hours every day at all centres in fixed outlets.
  • The bank is planning to deploy around 5,000 banking correspondents by March 2024 which can enhance the reach and accessibility of the bank.
  • Currently, Indian Bank has 10,750 banking correspondents and 10 Corporate Business Correspondents and it is expected to increase to 15,000 banking correspondents and 15 Corporate Business Correspondents.
  • The bank offers 36 types of services to customers through the Banking Correspondents and during the financial year 2024-25, more than 60 services will be added.
  • Indian Bank – 15/08/1907 (Founded) – Chennai (HQ) – Shanti Lal Jain (MD & CEO) – “Your Own Bank”

RBI penalised four Co-operative banks for rule violations

  • The Reserve Bank of India (RBI) had imposed a penalty of Rs 2 lakh each on Baramati Sahakari Bank and The Becharaji Nagarik Sahakari Bank, as mentioned in the releases.
  • Furthermore, it had imposed a penalty of Rs 5 lakh each on The Waghodia Urban Co-operative Bank and The Viramgam Mercantile Co-operative Bank.
  • The penalty on Becharaji Nagarik Sahakari Bank was imposed because the bank had breached prudential inter-bank counter-party exposure limits.
  • On the other hand, Baramati Sahakari Bank had failed to credit interest to inoperative savings bank accounts, leading to the imposition of a penalty.
  • In addition, The Waghodia Urban Co-operative Bank had sanctioned credit facilities to individuals where the relatives of its directors stood as guarantors, thus breaching prudential inter-bank counter-party exposure limits.
  • Additionally, Waghodia Urban Co-operative Bank has not paid interest on matured recurring deposits from the date of maturity until the date of repayment, at the rate applicable to saving deposits or at the contracted rate of interest, whichever is lower.
  • The bank had also not paid interest on term deposits for Sundays/holidays/non-business working days, on which the same had matured, and these were repaid on the succeeding working days.
  • Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)

BriskPe A2A by Yes Bank

  • YES Bank, in partnership with BriskPe, had launched BriskPe A2A, which offers a suite of solutions to exporters and importers.
  • This platform will enable BriskPe’s customers to collect payments in over 36 foreign currencies, spanning across more than 180 countries.
  • The funds can then be converted into Indian Rupees and settled directly into their local bank accounts in India within a single business day.
  • This collaboration will enable swift cross-border payments and majorly benefit Micro, Small, and Medium Enterprises (MSMEs) operating in the manufacturing and services sectors.
  • Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)

Virtual Commercial Card by IndusInd Bank

  • IndusInd Bank had launched a virtual commercial card in tie-up with Visa and Juspay.
  • The credit card has additional layers of security that can be defined for each transaction.
  • The product is made to cater to requirements of corporates and travel industry, who make many bookings in multiple foreign currencies.
  • Further, users can also generate virtual cards or credentials in foreign-denominated currencies, safeguarding the parent card number.
  • Each virtual card can be fully customized with transaction-specific limits and the expiry dates also can be defined to ensure secure payment experience.
  • IndusInd Bank Limited – April 1994 (Founded) – Mumbai (HQ) – Sumant Kathpalia (MD & CEO) – “We Make You Feel Richer” (Tagline)

NPCI had unveiled the “OTG Ring”

  • NPCI had unveiled the “OTG Ring” which is the first contactless payment wearable ring made in India, in collaboration with Indian startup LivQuik.
  • “OTG Ring” can be enabled for National Common Mobility Card (NCMC) customers and used for various open-loop transit programs.
  • National Payments Corporation of India – 2008 (Founded) – Mumbai (HQ) – Dilip Asbe (MD & CEO)

Science and Technology

Unified Portal for Agricultural Statistics

  • Member of NITI Aayog, Professor Ramesh Chand officially launched the Unified Portal for Agricultural Statistics (UPAg Portal- www.upag.gov.in).
  • This innovative platform, designed to streamline and enhance data management in the agricultural domain, marks a significant step towards a more efficient and responsive agricultural policy framework.
  • The UPAg Portal is a crucial component of the Digital Public Infrastructure for Agriculture, aimed at harnessing the diversity of the agriculture sector and using data as a catalyst for growth.
  • It is a pioneering initiative by the Department of Agriculture and Farmers’ Welfare, to streamline data management in the agriculture sector.
  • It aims to provide real-time, standardized, and verified data on agricultural commodities, facilitating data-driven decision-making for policymakers, researchers, and stakeholders.
  • This initiative aligns with the principles of e-governance, bringing smartness, transparency, and agility to India’s agriculture sector.
  • Key Features of UPAg Portal:
  • Data Standardization: The portal standardizes data on prices, production, area, yield, and trade, making it accessible in one location, eliminating the need to compile data from multiple sources.
  • Data Analysis: UPAg Portal will perform advanced analytics, offering insights such as production trends, trade correlations, and consumption patterns, aiding policymakers in making informed decisions.
  • Granular Production Estimates: The portal will generate granular production estimates with increased frequency, enhancing the government’s ability to respond to agricultural crises swiftly.
  • Commodity Profile Reports: Commodity profile reports will be produced using algorithms, minimizing subjectivity and providing users with comprehensive insights.
  • Plug and Play: Users will have the flexibility to use the portal’s data to prepare their own reports, promoting data-driven decision-making.

Appointments

Chairman of Audit Bureau of Circulations (ABC)

  • Srinivasan K Swamy, Executive Chairman of R K Swamy Hansa Group, had been elected as the Chairman of Audit Bureau of Circulations (ABC) for the year 2023-2024.
  • Swamy currently serves as Chairman of Asian Federation of Advertising Associations.
  • He was also the President / Chairman of International Advertising Association (IAA), IAA India Chapter, Confederation of Asian Advertising Agency Associations, Advertising Agencies Association of India, Advertising Standards Council of India, All India Management Association, Madras Chamber of Commerce & Industry and Madras Management Association.
  • Swamy was awarded the Lifetime Achievement Award by the Advertising Agencies Association of India.

Jupiter chief product and marketing officer

  • Jupiter, the neobanking start-up, had appointed Anuj Rathi, former senior vice president of revenue and growth at Swiggy, as its inaugural chief product and marketing officer.
  • In this role, he will oversee product, design, growth, and marketing.

Director of the Enforcement Directorate

  • IRS officer Rahul Navin was appointed as in-charge director of the Enforcement Directorate (ED) by replacing Sanjay Kumar Mishra.
  • Rahul Navin is currently the ED’s special director.

Tenure of Company Law Committee by one year

  • Ministry of Corporate Affairs had extended the tenure of the Company Law Committee by one year till September 16, 2024.
  • The committee has the mandate for examining and making recommendations to the government on various issues related to the implementation of the Companies Act and the Limited Liability Partnership Act.
  • Currently, the 11-member committee is chaired by the Corporate Affairs Secretary Manoj Govil.
  • Last year, the ministry had extended the panel’s tenure till September 16, 2023.
  • Ministry of Corporate Affairs – Nirmala Sitharaman, Union Minister (Rajya Sabha MP, Karnataka) – Raja Rao Inderjit Singh Yadav, Minister of State (Gurgaon,Haryana)

Awards and Recognitions

Sangeet Natak Akademi Amrit Awards

  • Vice President Jagdeep Dhankhar presented the one-time Sangeet Natak Akademi Amrit Awards to 84 artistes (70 men and 14 women) from varied fields of performing arts.
  • Sangeet Natak Akademi Amrit Awards is a national honour bestowed on performing artists as well as teachers and scholars in the field of performing arts.
  • The recipients are selected by the Akademi’s General Council, consisting of distinguished musicians, dancers, theatre artists and scholars in these disciplines and nominees of the Government of India, States Governments, and Union Territories.
  • The honour carries a purse money of Rs. 1,00,000/- (Rupees one lakh) besides a Tamrapatra and Angavastram.
  • Three artistes from Andhra Pradesh, two from Arunachal Pradesh and six from Maharashtra also received the prestigious award.
  • Three from Uttar Pradesh, Gujarat and two each from Punjab and Delhi were also selected.
  • Four award recipients each are from Bihar, Odisha, West Bengal, Manipur, Madhya Pradesh, Tamil Nadu, Kerala and Karnataka while five each from Assam and Rajasthan also received the prize.
  • Some of the awardees include Raghubir Malik and Dina Nath Mishra for Hindustani vocal, Gowri Kuppuswamy and Anasuya Kulkarni for Carnatic vocal, Lalitha Srinivasan and Vilasini Devi Krishnapillai for Bharatnatyam and Smita Shastri and Kumkum Lal for Kuchipudi and Odishi, Harishchandra Prabhakar Borkar from Maharashtra for theatre and Dharmeswar Nath of Asssam for dance, Krishen Langoo (theatre and music) from Jammu and Kashmir, John Claro Fernandes (playwriting) from Goa, Mahabir Nayak (folk music and dance) from Jharkhand and Tsering Stanzin (folk music) from Ladakh.
  • Sangeet Natak Akademi Amrit Awards was set up in 1953 and it is an Autonomous Body of the Ministry of Culture.
  • The Award was created by a resolution of the Ministry of Education, with P.V. Rajamannar as its first Chairman.

Obituary

Mircea Snegur passed away

  • Moldova’s first president, Mircea Snegur passed away at 83.
  • Snegur, a former communist, was president from 1990 to 1997, overseeing Moldova’s breakaway from the Soviet Union and transition to independence.
  • Moldova – Chișinău (Capital) – Moldovan leu (Currency) – Maia Sandu (President) – Dorin Recean (Prime Minister) – Romanian (Language)

Sports News

MotoGP Bharat roped in IndianOil as title sponsor

  • MotoGP Bharat had roped in IndianOil as the title sponsor for India’s first-ever MotoGP Grand Prix scheduled to take place at the Buddh International Circuit in Greater Noida from September 22-24.
  • Organised by FairStreet Sports in collaboration with Dorna Sports, the MotoGP Bharat will see 42 teams and 84 riders participating in the MotoGP, Moto2, and Moto3 categories.
  • It will be exclusively broadcast on Sports18 and live-streamed on JioCinema in India.
  • Fans can secure their tickets for the event on BookMyShow.

Important Days

International Day for the Preservation of the Ozone Layer

  • International Day for the Preservation of the Ozone Layer is annually observed on September 16.
  • This designation had been made on December 19, 2000, in commemoration of the date, in 1987, on which nations signed the Montreal Protocol on Substances that Deplete the Ozone Layer by the United Nations General Assembly.
  • The day was first observed in 1994.
  • Theme – Montreal Protocol: fixing the ozone layer and reducing climate change

International Day for Interventional Cardiology 2023

  • International Day for Interventional Cardiology is annually observed on September 16.
  • The day is celebrated to raise awareness, acknowledge advancements, and emphasize the importance of interventional cardiology in saving lives.
  • The first coronary angioplasty was performed by Dr. Andreas Grüntzig on 16 September 1977.
  • In September 2022, the United Nation General Assembly decided to proclaim 16 September as International Day for Interventional Cardiology.
  • United Nations General Assembly – 1945 (Founded) –  New York City (HQ) – Dennis Francis (President)

Defence

Defence Acquisition Council (DAC) gave a nod for nine capital acquisition proposals

  • The Defence Acquisition Council (DAC) gave a nod for nine capital acquisition proposals worth ₹45,000 crores, including for 12 Su-30 MKI fighter aircraft with associated equipment from state-owned Hindustan Aeronautics Limited (HAL) at a cost of ₹11,000 crores.
  • All these procurements will be made from Indian vendors under Buy (Indian-Indigenously Designed Developed and Manufactured (IDMM) and Buy (Indian) category which will give substantial boost to the indigenous defence industry towards achieving the goal of ‘Aatmanirbhar Bharat,’.
  • The 12 Su-30 MKIs cleared by the DAC will fill the void in the Indian Air Force fleet that happened due to crashes of such multi-role fighter jets over the years.
  • An additional order would help IAF bridge the gap between the existing and desired combat squadron strength in the shortest possible time and at minimum cost.
  • Navratna PSU HAL has successfully integrated Astra missile, BrahMos Missile, New Generation Anti-Radiation Missile (NGARM), guided bombs, ACMI pod, among others, to make Su-30 MKI a much more lethal aircraft, sources pointed.
  • Currently, HAL is undertaking series modification of aircraft for integration of BrahMos.
  • So far HAL has produced 222 Sukhois under licence from Russia and undertook overhaul of 100 jets so far at its Nashik facility.
  • For further enhancing the Indian Air Force capability, the DAC also gave a go- ahead for proposals for avionic upgradation of Dornier aircraft to improve the accuracy and reliability for operations.
  • The procurement of Dhruvastra Short Range Air-to-Surface Missile as a potent Indigenous Precision Guided Weapon for indigenously built ALH Mk-IV Helicopters has been cleared by the DAC, informed the MoD.
  • Hindustan Aeronautics Limited (HAL) – 22/12/1940 (HQ) – Bangalore (HQ) – CB Ananthakrishnan (Chairperson & MD)

Daily Current Affairs - September 17, 2023 - Consolidated

  • 14th edition of World Spice Congress
  • Odisha Cabinet approved transport network programme
  • Pradhan Mantri Matsya Sampada Yojana
  • Mukhyamantri Sampoorna Pushti Yojana
  • ‘IB SAATHI’ by Indian Bank
  • RBI penalised four Co-operative banks for rule violations
  • BriskPe A2A by Yes Bank
  • Virtual Commercial Card by IndusInd Bank
  • NPCI had unveiled the “OTG Ring”
  • Unified Portal for Agricultural Statistics
  • Chairman of Audit Bureau of Circulations (ABC)
  • Jupiter chief product and marketing officer
  • Director of the Enforcement Directorate
  • Tenure of Company Law Committee by one year
  • Sangeet Natak Akademi Amrit Awards
  • Mircea Snegur passed away
  • MotoGP Bharat roped in IndianOil as title sponsor
  • International Day for the Preservation of the Ozone Layer
  • International Day for Interventional Cardiology 2023
  • Defence Acquisition Council (DAC) gave a nod for nine capital acquisition proposals

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