NATIONAL UPDATES:
1. GoI
announces to rename the Rajpath as Kartavya Path: The government of India has announced to change the name of Rajpath and
Central Vista lawns into Kartavya Path. The decision is said to shed remnants
of the British colony in India. The decision came after a special meeting on
September 7, convened with the aim of renaming the Rajpath and Central Vista
lawns. Earlier, the Modi government had
changed the name of the road on which the Prime Minister’s residence is, from
Race Course Road to Lok Kalyan Marg.
About the
Kartavya Path: Kartavya Path includes the Entire Avenue and area
from the Netaji Statue to the Rashtrapati Bhavan. The route runs from
Rashtrapati Bhavan on Raisina Hill through Vijay Chowk and India Gate to
National Stadium in Delhi. The decision comes after Prime Minister Narendra
Modi’s address to the nation on Independence Day where he stressed the factors
leading to the abolition of symbols and signs relating to the colonial mindset.
Central Vista Avenue:
a) Central Vista Avenue is part of the government’s ambitious Central Vista
redevelopment project. Central Vista Avenue is ready for inauguration after the
completion of construction work on both sides of the Rajpath.
b) The Central Vista redevelopment project includes a new triangular
Parliament building, a common Central Secretariat, rejuvenation of the
three-kilometre Rajpath, new Prime Minister’s residence and offices and a new
Vice President’s Enclave.
c) Central Vista Avenue along Rajpath will have state-wise food stalls, red
granite walkways with greenery all around, vending zones, parking lots and
round-the-clock security, but people will miss just one thing Man Singh from
India Gate.
2.
Uttarakhand Govt launched ‘Samarth’ e-governance portal: The Uttarakhand education department launched an e-governance portal
“Samarth”. This portal provides all administrative and educational updates
including information about entrance exams, salary structures, and appointments
from five state universities and 140 public schools. The initiative has been
taken in a bid to make the education system more transparent in the state. About
the portal:
a) The portal also provides access to 40 academic study modules.
b) 200 assistant professors of science subjects will be sent to the Indian
Institute of Science, Bengaluru for special training, while teachers of state
universities will be given training at IIM Kashipur.
c) The new education policy (NEP-2020) will be also implemented in the
state from this session in September.
d) In addition, to provide quality education to students, a teacher-sharing
format that will connect multiple private and government schools across the
country will also be introduced soon.
Note: Uttarakhand
Chief Minister: Pushkar Singh Dhami; Uttarakhand Capitals: Dehradun (Winter),
Gairsain (Summer); Uttarakhand Governor:
Lt Gen Gurmit Singh.
3. PM
Narendra Modi announced PM-SHRI Scheme for upgrading 14500 school: Prime Minister Narendra Modi has announced a new initiative, the
development and upgradation of 14 thousand 500 schools across the country under
the Pradhan Mantri Schools For Rising India (PM-SHRI) Yojana. PM-SHRI schools
will become model schools which will encapsulate the full spirit of the National
Education Policy. The centrally sponsored scheme will be implemented by
strengthening existing schools selected from amongst those managed by the
Central government, states, Union Territories and local bodies. The aim of
these schools will not only be qualitative teaching, learning and cognitive
development but also to create holistic and well-rounded individuals equipped
with key 21st-century skills. About the scheme:
a) The PM-SHRI schools will have a modern, transformational and holistic
method of imparting education. The PM-SHRI schools will further benefit lakhs
of students across the country in the spirit of the National Education Policy.
b) The PM-SHRI schools will have a modern, transformational and holistic
method of imparting education. Emphasis will be on a discovery-oriented,
learning-centric way of teaching. The focus will also be on modern infra
including the latest technology, smart classrooms, sports and more. The
National Education Policy has transformed the education sector in the recent years.
4. CCRAS
‘SPARK’ Program to Support Innovative Research in Ayurveda: The Central Council for Research in Ayurvedic Sciences (CCRAS) takes a
unique initiative to support the research efforts of the upcoming bright mind
of India. CCRAS has developed the Studentship Program for Ayurveda Research Ken
(SPARK) for Ayurveda students (BAMS) in recognized Ayurveda colleges. Key
Points:
a) SPARK Program has been developed by the CCRAS to support the young minds
of the students and to promote the culture of evidence-based scientific
research in the field of Ayurveda.
b) SPARK Program will help the students to develop an acumen for research
and to support their research ideas.
c) SPARK Program aims to support the research ideas of the young upcoming
students across all the Ayurveda colleges in India.
d) The application process for the SPARK Program will be done online mode.
e) The selected students will be offered financial support of Rs. 50,000
under this fellowship.
5. IAD
technology successfully used by ISRO to land payloads on Mars and Venus: The Inflatable Aerodynamic Decelerator (IAD), which ISRO says is a
game-changer with numerous implications for future missions including to Mars
and Venus, was successfully tested. Vikram Sarabhai Space Centre (VSSC), an
ISRO division, successfully test-flew an IAD from Thumba Equatorial Rocket
Launching Station on a “Rohini” sounding rocket (TERLS). Key Points:
a) Scientists from India and beyond, as well as ISRO, frequently employ
Rohini sounding rockets to fly demonstrations of new technologies.
b) Along with the IAD, new components including a micro video imaging
system that recorded the IAD’s bloom and flight, a small software defined radio
telemetry transmitter, a MEMS (Micro-electromechanical systems)-based acoustic
sensor, and a variety of new methodologies were all successfully flight tested.
About IAD technology:
a) The IAD was first folded and stowed in the rocket’s cargo bay, according
to the Indian Space Research Organisation, which has its headquarters in
Bengaluru (ISRO).
b) The IAD was inflated at an altitude of around 84 km, and the sounding
rocket’s cargo dropped through the atmosphere on it.
c) The Liquid Propulsion Systems Centre (LPSC) of ISRO designed the
pneumatic inflation mechanism.
d) The IAD has consistently decreased the payload’s velocity through
aerodynamic drag while maintaining the expected trajectory.
Note: ISRO
Chairman: S Somanath; Founder of ISRO: Vikram Sarabhai; ISRO founded year:
August 15, 1969
6. A book
titled ‘Divorce and Democracy: A History of Personal Law in Post-Independence
India’ by Saumya Saxena: A new book on divorce laws
and various religions in the post-colonial era was released at the India
International Centre. The book ‘Divorce and Democracy: A History of Personal
Law in Post-Independence India’ talks about family law, religion, and gender
politics in India. The book has written by Saumya Saxena, a British Academy
Fellow at the faculty of History, University of Cambridge, the book talks about
the Indian state’s difficult dialogue with divorce, which reconciles largely
through religion.
The
essence of the book: This book captures the Indian state’s difficult
dialogue with divorce, mediated largely through religion. By mapping the
trajectories of marriage and divorce laws of Hindu, Muslim, and Christian
communities in post-colonial India, it explores the dynamic interplay between
law, religion, family, minority rights and gender in Indian politics. It
demonstrates that the binary frameworks of the private-public divide,
individuals versus group rights, and universal rights versus legal pluralism
collapse before the peculiarities of religious personal law.
INTERNATIONAL UPDATES:
1. Europe
Heading for Recession as Inflation Crisis Deepens: The euro zone is almost certainly entering a recession, with surveys
showing a deepening cost of living crisis and a gloomy outlook that is keeping
consumers wary of spending. While there was some easing of price pressures,
according to the surveys, they remained high. The European Central Bank is
under pressure as inflation is running at more than four times its 2% target,
reaching a record 9.1% last month. Key Points:
The ECB faces
the prospect of raising interest rates aggressively just as the economy enters
a downturn. A rise in borrowing costs would add to the woes of indebted
consumers.
The euro dropped
below 99 US cents for the first time in 20 years after Russia said gas supply
down its main pipeline to Europe would stay shut indefinitely. Gas prices on
the continent soared as much as 30%, stoking fears of shortages and reinforcing
expectations for a recession and a bitter winter as businesses and households
are battered by sky-high energy prices.
S&P Global’s
final composite Purchasing Managers’ Index (PMI), seen as a guide to economic
health, fell to an 18-month low of 48.9 in August from July’s 49.9, below a
preliminary 49.2 estimate. Anything below 50 indicates contraction.
2. International Day to Protect Education from
Attack: 9th September: The International Day to
Protect Education from Attack is an international observance established by a
unanimous decision of the United Nations General Assembly in 2020. It is
observed on September 9 of each year. The purpose of the day is to raise
awareness regarding the importance of safeguarding schools as places of
protection and safety for students and educators and the need to keep education
at the top of the public agenda.
International
Day to Protect Education from Attack History: The day
was established by a unanimous decision of the UN General Assembly, calling on
UNESCO and UNICEF to raise awareness of the plight of millions of children
living in countries affected by conflict. This day was established in 2020 and
is supported by UNESCO and UNICEF, and co-sponsored by 62 countries. This day
aims to raise awareness of the plight of millions of children living in
war-affected countries.
Note: UNESCO
headquarters: Paris, France; UNESCO Head: Audrey Azoulay; UNESCO Founded: 16
November 1945; UNICEF Executive Director: Henrietta H. Fore; UNICEF Founded: 11
December 1946; UNICEF Headquarters: New York, United States.
OTHER UPDATES:
SPORTS
1. IIT
Madras joins Inspire Institute of Sports for innovative boxing analytics
software: IIT Madras researchers and Inspire Institute of
Sports in Karnataka have joined forces to create the analytics platform
“Smartboxer.” To boost India’s boxing medal total at the 2024 Olympics,
advanced boxing analytics software is being created. IIT Madras’ Center of
Excellence for Sports Science and Analytics is responsible for creating the
multi-version software. Key Points:
a) It will use wearable sensors and cameras with Internet of Things (IoT)
capabilities to deliver feedback and performance evaluations.
b) Inspire Institute of Sport will use “Smartboxer” to evaluate the boxers’
performance (IIS).
c) The “Smartboxer” analytics platform will be modified in response to
IIS’s suggestions. This will make it possible for coaches and boxers to benefit
from the programme in a useful way.
d) IIT Madras, the research involves combining IoT-based sensors and video
cameras to deliver analytics regarding player performance.
2. Indian
GM Aravindh Chithambaram wins Dubai Open chess Tournament: Grandmaster Aravindh Chithambaram wins the 22nd Dubai Open Chess
Tournament with 7.5 points. While seven Indians finished in the top 10, R.
Praggnanandha was in the second spot with five others. Aravindh Chithambaram
and R. Praggnanandha settled for a draw in the ninth and final match, which
enabled Aravind Chithambaram to finish the match with seven and a half points
ahead of the rest of the field.
He remained
undefeated throughout the nine rounds, winning six and drawing three matches.
He won against Rinat Jumabayev, and Arjun Erigaisi. The five players that
finished on seven points and in the joint second spot include R Praggnanandha,
Alexander Predke, Abhijeet Gupta, Jaykumar Sammed Shete, and S P Sethuraman.
BANKING AND FINANCE
1.
Tamilnad Mercantile Bank named Krishnan Sankarasubramaniam as new MD & CEO: The Tuticorin-based Tamilnad Mercantile Bank (TMB) Ltd has announced
the appointment of Krishnan Sankarasubramaniam as the Managing Director and CEO
with effect for three years. His appointment was approved by the Reserve Bank
of India (RBI), pursuant to its letter of approval dated August 18, 2022.
Note: Tamilnad
Mercantile Bank Founded: 11 May 1921; Tamilnad Mercantile Bank Headquarters:
Thoothukudi, Tamil Nadu.
BUSINESS AND ECONOMY
1. CCI
approves the acquisition of BillDesk by PayU Payment: The Competition Commission of India (CCI) approved the acquisition of
100 percent equity of Indiaideas.com (Billdesk) by PayU Payments. The proposed
combination relates to the acquisition of 100 percent of the equity share
capital of India Ideas Ltd (IIL) by PayU India. Prosus NV-backed PayU announced
in August 2021, that it will buy digital payments provider Billdesk for USD 4.7
billion. About the deal:
a) It will make it one of the biggest deals in the Indian consumer internet
space. The proposed combination pertains to the acquisition of an additional 10
percent stake in Apraava by CDPQ from CPL CPEC Holding Limited.
b) The CDPQ and CPL announced in July that they have reached an agreement
for the sale of a 10 percent stake in Apraava Energy to CDPQ, making their
respective stakes 50 percent in the company.
2. 28th
Edition of Status Report on India’s External Debt 2021-22 released: Status Report on India’s External Debt 2021-22 has been announced by
the External Debt Management Unit (EDMU) of the Department of Economic Affairs,
Ministry of Finance. The released report is the 28th edition of the Status
Report on India’s External Debt 2021-22. India’s external debt at the end of
March 2021 was US$ 573.7 billion which has grown by 8.2 percent and at the end
of March 2022, it has risen to US$ 620.7 billion. 53.2 percent of India’s
external debt was denominated in the US dollar, and Indian rupee-denominated
debt, estimated at 31.2 percent, was the second largest. The sustainability of
India was better than the Low-and-Middle Income Countries (LMICs) as a group
and vis-à-vis many of them individually while considering various debt
vulnerability indicators.
3. BEL
tie-up with Smiths Detection to manufacture scanning systems: Bharat Electronics Limited (BEL) has signed a Memorandum of
Understanding (MoU) with Smiths Detection, a global leader in threat detection
and security inspection technologies, for offering advanced, high-energy
scanning systems to the Indian market. The MoU, signed for a period of five
years and can be extended further by mutual consent, will leverage the
high-end, technological capabilities of both firms to meet India’s domestic
security needs. As per the agreement:
a) BEL would handle front-end requirements in the market, supporting
localisation of the projects while Smiths Detection would provide advanced
screening technology and technological expertise for the project.
b) Also, to facilitate ease of doing business and enhance safety, the union
government has been investing in port and land border security.
c) Moreover, the requirement for industry-leading high-energy scanning
technology is being driven by Defence installations, which need to screen large
volumes of vehicles and impose restricted entry at sensitive areas, as per the
company.
Note: Bharat
Electronics Limited (BEL) Founded: 1954; Bharat Electronics Limited (BEL)
Headquarters: Bengaluru.
DEFENCE
1. Indian
Army Chief Manoj Pande conferred honorary rank of Nepal Army General: Indian Army Chief General Manoj Pande was
conferred the title of Honorary General of the Nepali Army by Nepal President
Bidya Devi Bhandari in Kathmandu. General Pande was honoured at a special
ceremony at the President’s official residence ‘Shital Niwas’ in the capital
city of Nepal. He has also presented a sword and scroll during the function. On
behalf of the Indian government, General Manoj Pande presented training
equipment to Nepali Army, along with Light Vehicles which would augment the
capabilities of Nepali Army personnel.
The history behind this process: The practice follows a seven-decade-old tradition of decorating army chiefs of each other’s countries with the honorary title. Commander-in-Chief General KM Cariappa was the first Indian Army chief to be decorated with the title in 1950. In November last year, the Chief of the Nepali Army, General Prabhu Ram Sharma was also made the Honorary General of the Indian Army by President Ram Nath Kovind at a ceremony in New Delhi.
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