Daily Current Affairs – September 22, 2023
Daily Current Affairs - Banking - September 22, 2023
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Banking and Finance
RBI cancelled licence of The Ananthasayanam Co-operative Bank
- The Reserve Bank of India (RBI) had cancelled the licence of The Ananthasayanam Co-operative Bank.
- This makes it obligatory on the part of The Ananthasayanam Co-operative Bank Ltd., Trivandrum to stop conducting the business of ‘banking’ within the meaning of section 5(b) of the Act ibid, including acceptance of deposits from non-members with immediate effect.
- The RBI had granted licence to The Ananthasayanam Co-operative Bank dated December 19, 1987, to carry on banking business in India.
- Reserve Bank of India (RBI) – 01/04/1935 (Founded) – Mumbai (HQ) – Shaktikanta Das (Governor)
RBI imposed monetary penalty on four co-operative banks
- The Reserve Bank of India imposed a monetary penalty of ₹6.00 lakh on The Citizens’ Co-operative Bank Ltd., Jammu for non-compliance with the specific directions issued by RBI under ‘Supervisory Action Framework (SAF)’ and directions issued under ‘Exposure norms and Statutory/ Other Restrictions – UCBs’.
- The RBI imposed a monetary penalty of ₹11.00 lakh on HCBL Co-operative Bank Ltd., Lucknow, Uttar Pradesh for non-compliance with the directions issued by RBI on ‘loans and advances to directors, their relatives, and firms or concerns in which they are interested’ and specific directions issued by RBI under the Supervisory Action Framework (SAF).
- The RBI imposed a monetary penalty of ₹1.00 lakh on Shree Warana Sahakari Bank Ltd., Kolhapur, Maharashtra for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts- Primary (Urban) co-operative Banks’.
- The Reserve Bank imposed a monetary penalty of ₹2.00 lakh on The State Transport Co-operative Bank Ltd., Mumbai, Maharashtra for non-compliance with the directions issued by RBI on ‘The Depositor Education and Awareness Fund Scheme, 2014’.
Fine by Securities and Exchange Board of India
- Securities and Exchange Board of India had levied penalties totalling Rs 55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE.
- In 11 separate orders, the regulator slapped a fine of Rs 5 lakh each on Kamala Agarwal, Kamla Devi Bajoria, Kamla Jain, Kamaljeet Kour, Kamal Ramprasad Gupta, Kamal Kumar, Kamlesh Ahuja, Kailash Narottamdas Anam, Sanjay Kumar Daga HUF Pragma Suppliers Pvt Ltd and Aromatic Tie Up Pvt Ltd.
- And also imposed Rs 65 lakh fine on 13 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE.
- In 13 separate orders the regulator slapped a fine of Rs 5 lakh each on Kalyan Devi Bothra, Kalpesh Udani HUF, Kallol Kutir Pvt Ltd, Jyotiben Prakashkumar Shah, Jyoti Patawari, Jyoti Kariwala, Jupiter Industries, Jugmug Sales Pvt Ltd, Jitendra Rameshbhai Patel, Jugal Kishore Gupta, Kajal Agarwal, JIT Finance Pvt Ltd and Jayshriben Dhirendrakumar Maniar.
Business and Economy
India’s GDP by Finance Ministry
- A Finance Ministry report terms a 6.5% GDP growth estimate for FY24 with symmetric risks as ‘comfortable’.
- Earlier, Fitch Ratings raised its growth forecast to 6.3% for the current fiscal year from 6%.
- Indian economy grew by 7.2% in FY23.
Science and Technology
AI Chatbot for PM-KISAN Scheme
- Ministry of Agriculture & Farmers Welfare, Government of India launched AI Chatbot for the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme at New Delhi.
- The AI Chatbot launch marks a significant step towards enhancing the efficiency and reach of the PM-KISAN scheme, and also providing farmers prompt, clear, and accurate responses to their queries.
- The AI Chatbot acts as a comprehensive guide for the beneficiaries, providing them with timely and accurate responses to their queries related to the scheme.
- This is the first AI Chatbot integrated with a major flagship scheme of the Union government.
- It has been developed and improved with the support of EKstep foundation and Bhashini.
- The introduction of the AI chatbot in the PM-KISAN grievance management system is aimed at empowering farmers with a user-friendly and accessible platform.
- In its first phase of development, the AI chatbot will assist farmers in seeking information related to their application status, payment details, ineligibility status, and other scheme-related updates.
- The AI Chatbot, accessible through the PM KISAN mobile app, is integrated with Bhashini, which offers multilingual support, catering to the linguistic and regional diversity of the PM KISAN beneficiaries.
- This integration of advanced technology will not only enhance transparency but will also empower farmers to make informed decisions.
- Currently, the Chatbot is available in English, Hindi, Bengali, Odia, and Tamil.
- In a short period, it will be available in all 22 languages of the country.
- Ministry of Agriculture and Farmers Welfare – Narendra Singh Tomar,Cabinet Minister (Morena,UP) – Shobha Karandlaje,Minister of State (Udupi Chikmagalur,Karnataka), Kailash Choudhary, Minister of State (Barmer,Rajasthan)
President of Satyajit Ray Film and Television Institute
Malayalam actor-politician Suresh Gopi was nominated as the president of Kolkata-based Satyajit Ray Film & Television Institute (SRFTI) and chairman of its governing council.
Jagdeep Dhankhar formed all-women panel of 13 Vice-Chairpersons in Upper House
- Rajya Sabha Chairman Jagdeep Dhankhar constituted an all-women panel of Vice-Chairpersons in Rajya Sabha in view of the Women’s reservation Bill.
- The panel comprises 13 women Rajya Sabha Members only for that day as the Rajya Sabha is discussing the Women’s reservation Bill which is called as Nari Shakti Vandan Adhiniyam 2023.
- The panel includes P. T. Usha, Jaya Bachchan, Saroj Pandey, Dola Sen, Sulata Deo and Dr. Fauzia Khan.
Whole Time Member of Securities and Exchange Board of India
- Kamlesh Chandra Varshney has taken charge as Whole Time Member, Securities and Exchange Board of India (SEBI) in Mumbai.
- Prior to this assignment he was Joint Secretary (Tax Policy and Legislation) in the Department of Revenue, Government of India.
- Mr. Varshney will handle various departments like Market Intermediaries Regulation and Supervision Department, Legal Affairs Department-LAD1, Integrated Surveillance Department, Information Technology Department, Recovery & Refund Department and Special Enforcement Cell.
- Securities and Exchange Board of India (SEBI) – 12/04/1988 (Founded) – Mumbai (HQ) – Madhabi Puri Buch, (Chairman) – Ministry of Finance (Parent)
Wipro’s new CFO
- Wipro Ltd. had appointed Aparna C. Iyer as Chief Financial Officer by replacing Jatin Dalal.
- She had been with Wipro for more than 20 years now, holding several finance roles, including Internal Audit, Business Finance, Finance Planning and Analysis, Corporate Treasury and Investor Relations, and, most recently, Senior Vice President and CFO of Wipro FullStride Cloud.
- She comes with deep expertise in financial risk management, capital allocation, fund raising, driving business strategy and growth.
Vice-president for Market Solutions in Asian Development Bank
- The Asian Development Bank (ADB) announced the appointment of Bhargav Dasgupta as vice-president for Market Solutions for three years.
- This development follows Dasgupta’s resignation as Managing Director and Chief Executive Officer of ICICI Lombard General Insurance Company.
- Bhargav Dasgupta, who held the post of MD & CEO of ICICI Lombard for 14 years, would have ended his term in April 2024.
- Bhargav Dasgupta would have had to step down from his position in April 2024 after completion of 15 years.
- Asian Development Bank (ADB) – 19/12/1966 (Founded) – Mandaluyong, Philippines (HQ) – Masatsugu Asakawa (President) – 68 countries
Chief Strategy and Transformation Officer of Yes Bank
- Pankaj Sharma had been appointed as Chief Strategy and Transformation Officer of the Yes Bank.
- Sharma is a banking professional with 25 years of experience in the Banking and Financial Services (BFSI) industry.
- He joined Yes Bank from RBL Bank, where he was COO and responsible for Operations, Transformation & Corporate Services.
- He previously held several executive positions with Axis Bank, ICICI Bank, ICICI Prudential Life Insurance and GE Countrywide.
- Yes Bank – 2004 (Founded) – Mumbai (HQ) – Prashant Kumar (MD & CEO) – “Experience Our Expertise” (Tagline)
Ranks and Indices
Global economic freedom index
- The ‘Economic Freedom of the World: 2021 Annual Report’ by Canada’s Fraser Institute has been released in India in conjunction with New Delhi-based think tank Centre for Civil Society.
- According to the report, Singapore topped the index.
- It was followed by Hong Kong, Switzerland, New Zealand, the US, Ireland, Denmark, Australia, the UK, and Canada.
- India has fallen one notch to the 87th position out of 165 countries on the economic freedom index.
- India has been ranked higher than China, which stands at the 111th position.
- The country was at the 86th spot in previous year’s rankings.
- Venezuela once again ranks last.
- Other notable rankings include Japan (20th), Germany (23rd), France (47th), and Russia (104th).
- India reported marginal increase in the size of government (7.64 from 7.57) and and regulation of credit, labour and business (5.98 from 5.96), while it was down slightly in legal system and property rights (5.29 from 5.3) and freedom to trade internationally (6.19 from 6.27).
Awards and Recognitions
Indian-origin Chetna Maroo's debut novel shortlisted for Booker Prize 2023
- Chetna Maroo’s debut novel, Western Lane, has secured a place on the shortlist for the 2023 Booker Prize.
- Maroo, an author of Indian origin, was born in Kenya and currently resides in London, UK.
- Her novel delves into the British Gujarati community and focuses on an 11-year-old girl named Gopi, exploring her relationships with her family.
- Published on February 7 2023, the book has earned acclaim from Booker judges for its innovative use of squash as a metaphor to explore complex human emotions.
- While Maroo acknowledged that it would be “fair” to describe the novel as a sports story, it has been variously categorised as a coming-of-age story, a domestic novel, and a narrative addressing themes of grief and the immigrant experience.
Saroja Vaidyanathan passed away
- Bharatanatyam dancer Saroja Vaidyanathan passed away at 86.
- The classical dancer was conferred the Padma Shri in 2002 and the Padma Bhushan in 2013.
- Vaidyanathan was known for her extensive contribution to Bharatanatyam and Carnatic music in the form of 10 full-length ballets and nearly 2,000 choreographies.
Boxing World Championships in Belgrade, Serbia
- Young Indian wrestler Antim Panghal secured a bronze medal in the women’s 53 kg category at the ongoing World Championships in Belgrade, Serbia.
- He also secured Paris Olympics 2024 quota for India.
- 19-year-old Antim beat two-time European Champion Emma Jonna Denise Malmgren in the bronze medal bout by 16-6.
- This is India’s first medal at the ongoing edition of the tournament.
- Antim has captured India’s 23rd medal in the World Championships till date, which includes one gold, five silver and 17 bronze medals.
Flag Bearers of Asian Games in Hangzhou
- Men’s Hockey captain Harmanpreet Singh and Olympic boxing medallist Lovlina Borgohain will be the flag-bearers of the Indian contingent during the opening ceremony of the Asian Games in Hangzhou.
- The Indian Olympic Association took the decision to have joint flag-bearers for the continental showpiece.
- A total of 655 Indian athletes are competing in the Asian Games this time, which is the largest contingent ever.
2024 Men's T20 World Cup Venue
- ICC Men’s T20 World Cup 2024 is set to be co-hosted by USA and West Indies.
- The venues will be Grand Prairie in Dallas, Broward County in Florida and Nassau County in New York.
- International Cricket Council (ICC) – 15/06/1909 (Founded) – Dubai,UAE (HQ) – Greg Barclay (Chairman) – 108 countries
World Rose Day
- World Rose Day (The Welfare of Cancer Patients Day) is annually celebrated on September 22.
- The day is celebrated to encourage and acknowledge cancer survivors all over the world.
- Cancer is one of the chronic diseases that is the cause of millions of deaths globally.
- People suffering from this debilitating disease often lose hope and courage to live.
- Hence, World Rose Day is observed to support and motivate all cancer patients to fight back and come out as strong survivors.
World Rhino Day 2023
- World Rhino Day is annually celebrated on September 22.
- In 2010 the day was organized by the World Wildlife Fund.
- The day has been selected to observe this day because of the successful relocation of white Rhinos from South Africa to Botswana in 1997.
- World Wide Fund for Nature – 29/04/1961 (Founded) – Switzerland (HQ) – Adil Najam (President)
Daily Current Affairs - September 22, 2023 - Consolidated
- RBI cancelled licence of The Ananthasayanam Co-operative Bank
- RBI imposed monetary penalty on four co-operative banks
- Fine by Securities and Exchange Board of India
- India’s GDP by Finance Ministry
- AI Chatbot for PM-KISAN Scheme
- President of Satyajit Ray Film and Television Institute
- Jagdeep Dhankhar formed all-women panel of 13 Vice-Chairpersons in Upper House
- Whole Time Member of Securities and Exchange Board of India
- Wipro’s new CFO
- Vice-president for Market Solutions in Asian Development Bank
- Chief Strategy and Transformation Officer of Yes Bank
- Global economic freedom index
- Indian-origin Chetna Maroo’s debut novel shortlisted for Booker Prize 2023
- Saroja Vaidyanathan passed away
- Boxing World Championships in Belgrade, Serbia
- Flag Bearers of Asian Games in Hangzhou
- 2024 Men’s T20 World Cup Venue
- World Rose Day
- World Rhino Day 2023
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