Daily Current Affairs – September 20, 2023
Daily Current Affairs - Banking - September 20, 2023
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“People’s G20” – eBook
- Shri Apurva Chandra, Secretary, Ministry of Information and Broadcasting unveiled “People’s G20”, an eBook on India’s G20 Presidency in New Delhi.
- The book presents a complete journey of India’s G20 Presidency.
- The book consists of three parts, the first part dealing with the monumental G20 Summit that was held in New Delhi.
- The book encapsulates the structure and working of G20 and elaborates on the initiatives that have been taken under India’s Presidency of the grouping.
- The second part provides a summary of the meetings of various Working Groups under the Sherpa and Finance Track along with the meetings of the Engagement Groups that have been held across the country over the last year since India took over as the Chair.
- The last part of the eBook presents a photo essay of the Jan-Bhagidari events that were held across the country in the past year transforming India’s G20 Presidency into a people-powered movement.
- Ministry of Information and Broadcasting – Anurag Singh Thakur,Union Minister (Hamirpur, Himachal Pradesh) – Loganathan Murugan,Minister of State (Rajya Sabha MP,MP)
India's 42nd UNESCO's World Heritage site
- The Sacred Ensembles of the Hoysala — the famed Hoysala temples of Belur (Hassan district), Halebid (Hassan district) and Somananthpura (Mysore district) in Karnataka had been added to the United Nations Educational, Scientific and Cultural Organization (UNESCO) World Heritage list.
- This is 42nd UNESCO World Heritage Site in India.
- The announcement was made by the agency in Riyadh, Saudi Arabia, during the 45th session of the World Heritage Committee.
- The site has been on UNESCO’s tentative list since 2014.
- All these three Hoysala temples are already protected monuments of the Archaeological Survey of India (ASI).
- The Hoysala Temples, built in the 12th and 13 centuries by the Hoysala kings, are dedicated to Shiva and Vishnu.
- United Nations Educational, Scientific and Cultural Organization (UNESCO) – 16/11/1945 (Founded) – Paris, France (HQ) – Audrey Azoulay (Director-General)
BIS establish standard club in schools
- The Bureau of Indian Standard (BIS) had established 6467 Standard Clubs in schools and colleges across the country.
- The BIS informed that the clubs are being established with the objective to sensitize young members of society about the importance of standards in improving quality of life.
- So far, 5562 Standards Clubs have been created in schools, while 905 clubs in different colleges including 384 clubs in engineering colleges.
- BIS announced that High and higher secondary eligible Government Schools with Standards Clubs are entitled to receive a one-time Laboratory Grant to a maximum of 50 thousand rupees.
- It will further provide financial assistance of upto one lakh rupees to establish ‘Manak Kaksha’ in government institutions.
- Bureau of Indian Standards (BIS) – 23/12/1986 (Founded) – Old Delhi (HQ) – Pramod Kumar Tiwari (Director General) – Ministry of Consumer Affairs, Food and Public Distribution (Under)
12th meeting of Malaysia-India Defence Cooperation Committee (MIDCOM)
- The 12th meeting of Malaysia-India Defence Cooperation Committee (MIDCOM) was held in New Delhi.
- The meeting was co-chaired by Defence Secretary Shri Giridhar Aramane and Deputy Secretary General (Policy), Malaysia Mr Mohd Yani bin Daud.
- During the meeting, both sides reviewed the outcomes of the two sub-committee meetings namely Sub Committee on Military Cooperation and Joint Sub Committee on Defence Science Technology and Industry Cooperation.
- Both sides assessed the existing defence cooperation between the two countries and held wide-ranging discussions on issues of mutual interest including regional issues.
- The two chairs also articulated steps in the direction of emerging areas of cooperation like cyber security and issues pertaining to global commons.
- They identified means to enhance existing areas of collaboration, especially in the field of defence industry, maritime security and multilateral cooperation.
- During the MIDCOM, the Defence Secretary shared an 8-point proposal with the Malaysian side to expand cooperation between India and Malaysia on a wide range of areas such as Government to government-level engagement, Tri-Service cooperation, Training, UN Peacekeeping, Bilateral Services Engagement, Defence Industrial Cooperation, Research & Development and Regional/ Sub-Regional Engagements.
- Malaysia – Kuala Lumpur (Capital) – Ringgit (Currency) – Abdullah (Monarch) – Anwar Ibrahim (Prime Minister) – Malay (Language)
Banking and Finance
RBI told that 15 large NBFCs to comply with enhanced regulatory requirements in FY24
- Reserve Bank of India said 15 large non-banking financial corporations (NBFC) will be subject to enhanced regulatory requirements in FY24.
- The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL).
- A list of 15 large Non-Banking Finance Companies (NBFCs) falling in the Upper Layer category has been released.
- They are LIC Housing Finance, Bajaj Finance, Shriram Finance, Tata Sons, L&T Finance, Piramal Capital & Housing Finance, Cholamandalam Investment and Finance Company, Indiabulls Housing Finance, Mahindra & Mahindra Financial Services, Tata Capital Financial Services, PNB Housing Finance, HDB Financial Services, Aditya Birla Finance, Muthoot Finance and Bajaj Housing Finance.
- According to RBI, despite qualifying for identification as NBFC-UL as per scoring methodology, TMF Business Services Ltd (formerly Tata Motors Finance Limited) is not being included in the list of NBFC-UL in the current review due to its ongoing business reorganisation.
- There is a prescribed methodology to identify the NBFCs in the Upper Layer as per their asset size and scoring methodology.
- In terms of the ‘Scale Based Regulation (SBR): A Revised Regulatory Framework for NBFCs’ issued in October 2021, once an NBFC is classified as NBFC-UL, it will be subject to enhanced regulatory requirement.
- This will be for at least for a period of five years from its classification in the layer, even in case it does not meet the parametric criteria in the subsequent year/s.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
WhatsApp will offer in-app shopping for Indian users
- WhatsApp had partnered with Razorpay and PayU to allow Indian users to shop and make payments via the app.
- We’re making it easier to complete a purchase directly in the chat.
- In addition to the payment service, WhatsApp also introduced Flows, which enables businesses to create customised forms to offer services such as picking a train seat, ordering a meal or booking an appointment without leaving the chat window.
- PayU – 2002 (Founded) – Hoofddorp, Netherland (HQ) – Laurent le Moal (CEO)
- Razorpay Software Private Limited – 2013 (Founded) – Bangalore (HQ) – Harshil Mathur (CEO)
Sebi imposed Rs 35 lakh fine on MI Research
- Securities and Exchange Board of India had imposed a fine of Rs 35 lakh on MI Research for violating regulatory norms.
- The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations.
- The period of examination was November 2017 to August 2019.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
Business and Economy
OECD India’s GDP Prediction
- The Organisation for Economic Cooperation and Development (OECD) has raised India’s GDP (gross domestic product) forecast for 2023-24 to 6.3% from 6% projected earlier.
- However, the country’s GDP growth for FY24-25 has been revised downward to 6% from 7% estimated earlier.
- Organisation for Economic Cooperation and Development (OECD) – 16/04/1948 (Founded) – Paris, France (HQ) – Mathias Cormann (Secretary General)
Agreements and MoUs signed
NHAI signed agreement to develop Multi Modal Logistics Park in Bengaluru
- National Highways Logistics Management Ltd (NHLML), a company owned by NHAI had signed an agreement for the development of Multi Modal Logistics Park (MMLP) at Bengaluru Muddelinganahalli district, proposed to be developed under the Public Private Partnership (DBFOT) model at an estimated cost of Rs 1,770 crore.
- The project is poised to become the first and largest MMLP ever implemented in the country under the PM Gati Shakti National Master Plan.
- The MMLP will be developed in three phases.
- The first phase is expected to be completed in two years.
- MMLP is expected to cater to 30 million metric tonnes (MMT) cargo by the end of the concession period of 45 years and will give a huge boost to the industrial zones in the catchment region such as Bengaluru and Tumkur.
- A Government SPV is incorporated between National Highways Logistics Management Ltd. (NHLML), Rail Vikas Nigam Limited (RVNL) amd Karnataka Industrial Area Development Board (KIADB).
- National Highways Authority of India (NHAI) – 1995 (Founded) – New Delhi (HQ) -Santosh Kumar Yadav (Chairman)
Secretary of Department of Science & Technology (DST)
- The Appointments Committee of the Cabinet had approved the appointment of Prof. Abhay Karandikar, Director, Indian Institute of Technology, Kanpur to the post of Secretary, Department of Science & Technology (DST) by replacing Dr. Rajesh Gokhale from the date of assumption of charge of the post till the date of his attaining the age of 60 years.
Sashidhar Jagdishan re-appointed as HDFC Bank MD & CEO
- The Reserve Bank of India (RBI) approved the re-appointment of Sashidhar Jagdishan as the managing director (MD) and chief executive officer (CEO) of HDFC Bank for three years starting from October 27, 2023.
- He took charge as the MD & CEO of the largest private-sector lender in October 2020, after Aditya Puri retired.
- Jagdishan, who has an overall experience of 31 years in the industry, joined the bank in 1996 as a manager in the finance function.
- HDFC Bank – August 1994 (Founded) – Mumbai (HQ) – Sashidhar Jagdishan (CEO) – “We Understand Your World” (Tagline)
Ranks and Indices
Digital Quality of Life Index (DQL)
- The Digital Quality of Life Index is an annual report according to digital wellbeing.
- The DQL Index 2023 examined 121 nations (92% of the global population) based on five core pillars: Internet quality, Internet affordability, e-infrastructure, e-government, and e-security.
- This study is conducted by the cyber security company Surfshark, founded in 2018 and Netherland based company.
13th (1st – Singapore)
Awards and Recognitions
33rd Ig Nobel prize
- The Ig Nobel Prize is a satiric prize awarded annually since 1991 to celebrate ten unusual or trivial achievements in scientific research.
- The Ig Nobels were created by Marc Abrahams, editor and co-founder of the Annals of Improbable Research, a former editor-in-chief of the Journal of Irreproducible Results, who has been the master of ceremonies at all awards ceremonies.
- The 33rd First Annual Ig Nobel Prize ceremony took place entirely as a webcast, not in a theatre.
- Chemistry and Geology: Jan Zalasiewicz, for explaining why many scientists like to lick rocks.
- Literature: Chris Moulin, Nicole Bell, Merita Turunen, Arina Baharin, and Akira O’Connor, for studying the sensations people feel “when they repeat a single word many, many, many, many, many, many, many times.”
- Nutrition: Homei Miyashita and Hiromi Nakamura, for experiments to determine how electrified chopsticks and drinking straws can change the taste of food.
- Medicine: Christine Pham, Bobak Hedayati, Kiana Hashemi, Ella Csuka, Tiana Mamaghani, Margit Juhasz, Jamie Wikenheiser, and Natasha Mesinkovska, for using cadavers to explore whether there is an equal number of hairs in each of a person’s two nostrils.
- Mechanical Engineering: Te Faye Yap, Zhen Liu, Anoop Rajappan (India), Trevor Shimokusu, and Daniel Preston, for re-animating dead spiders to use as mechanical gripping tools from Rice University in USA.
- Public Health: Seung-min Park, for inventing the Stanford Toilet, a device that uses a variety of technologies such as dipstick test strip for urine, a computer vision system for defecation analysis, an anal-print sensor paired with an identification camera, and a telecommunications link that can analyze the substances that humans excrete.
- Physics: Bieito Fernández Castro, Marian Peña, Enrique Nogueira, Miguel Gilcoto, Esperanza Broullón, Antonio Comesaña, Damien Bouffard, Alberto C. Naveira Garabato, and Beatriz Mouriño-Carballido, for measuring the extent to which ocean-water mixing is affected by the sexual activity of anchovy fishes.
- Education: Katy Tam, Cyanea Poon, Victoria Hui, Wijnand van Tilburg, Christy Wong, Vivian Kwong, Gigi Yuen, and Christian Chan, for carefully studying the boredom of teachers and students.
- Communication: María José Torres-Prioris, Diana López-Barroso, Estela Càmara, Sol Fittipaldi, Lucas Sedeño, Agustín Ibáñez, Marcelo Berthier, and Adolfo García, for studying the mental activities of people who are expert at speaking backward.
- Psychology: Stanley Milgram, Leonard Bickman, and Lawrence Berkowitz for experiments on a city street to see how many passersby stop to look upward when they see strangers looking upward
World Bamboo Day 2023
- World Bamboo Day is annually observed on September 18.
- The day is celebrated to raise awareness about bamboo worldwide.
- In 2009, during the eighth World Bamboo Congress held in Bangkok, the World Bamboo Organisation (WBO) officially designated September 18 as World Bamboo Day.
- World Bamboo Organisation (WBO) – 2005 (Founded) – Antwerp, Belgium (Executive Director) – Susanne Lucas (Executive Director)
- The Indian Coast Guard conducted ‘Operation Sajag,’ a Coastal Security Drill along the Western Coast involving all stakeholders in the Coastal Security Construct.
- This drill serves to revalidate the coastal security mechanism and raise awareness among fishermen at sea.
- Indian Coast Guard (ICG) – 18/08/1978 (Founded) – New Delhi (HQ) – Rakesh Pal (Director General) – Vayam Rakṣāmaḥ/We protect (Motto)
Daily Current Affairs - September 20, 2023 - Consolidated
- “People’s G20” – eBook
- India’s 42nd UNESCO’s World Heritage site
- BIS establish standard club in schools
- 12th meeting of Malaysia-India Defence Cooperation Committee (MIDCOM)
- 12th meeting of Malaysia-India Defence Cooperation Committee (MIDCOM)
- WhatsApp will offer in-app shopping for Indian users
- Sebi imposed Rs 35 lakh fine on MI Research
- OECD India’s GDP Prediction
- NHAI signed agreement to develop Multi Modal Logistics Park in Bengaluru
- Secretary of Department of Science & Technology (DST)
- Sashidhar Jagdishan re-appointed as HDFC Bank MD & CEO
- Digital Quality of Life Index (DQL)
- 33rd Ig Nobel prize
- World Bamboo Day 2023
- Operation Sajag
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