Daily GK Update- 10th Aug, 2023

NATIONAL UPDATES:

 

1. National Institute of Industrial Engineering becomes the 21st IIM of India: After passing the IIM (Amendment) Bill 2023 in the ongoing Monsoon Session, in the Parliament, the National Institute of Industrial Engineering (NITIE) would be officially renamed the Indian Institute of Management, Mumbai (IIM Mumbai). With this, NITIE becomes the 21st IIM of India and second in Maharashtra, after IIM Nagpur. Presently, NITIE ranked 7th in the Management Category by National Institute Ranking Framework (NIRF) in 2023.

 

2. India Defence Ministry to replace Microsoft OS with Maya: The Union Ministry of Defense has informed that the ministry would install a secure operating system (OS), indigenously developed, named Maya OS. This OS would replace the existing OS, 'Microsoft Windows'.

About Maya OS:

·       It is based on open-source Ubuntu software.

·       It would shield against cyber threats, offering a familiar interface while boosting security.

·       It uses Chakravyuh, a protective feature inspired by ancient Indian defence tactics.

 

3. Parliament Passes Digital Personal Data Protection Bill: The Digital Personal Data Protection Bill 2023 has been passed by the Rajya Sabha, it was already approved by Lok Sabha on August 7, 2023. The bill lays down obligations on private and government entities around the collection and processing of citizens' data. The bill seeks to protect the privacy of Indian citizens while proposing a penalty of up to Rs 250 crore on entities for misusing or failing to protect the digital data of individuals.

 

4. Fifteen Eco-Parks constructed in five years by Coal/Lignite PSUs: The Minister of Coal, Pralhad Joshi informed in Lok Sabha, Coal/Lignite PSUs have established 15 Eco-parks during the last 5 years. No fund has been allocated by the Government for Eco-parks. It was developed by Coal/Lignite PSUs for recreational purposes of nearby localities and no revenue earned from these Eco-parks is spent on the development of the mining areas. Kenapara Eco-Park, SECL, Chhattisgarh is run and maintained by local SHGs to promote mine tourism.

 

5. Eknath Shinde launches ‘Meri Mati Mera Desh’ campaign: Maharashtra Chief Minister Eknath Shinde has launched the ‘Meri Mati, Mera Desh’ campaign at Mumbai’s historic August Kranti Maidan, in the presence of Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar among other dignitaries. It was a matter of pride that the clarion call of Quit India and to establish Swarajya was given from Maharashtra’s soil. The concept of ‘Azadi ka Amrit Mahotsav’ and its concluding chapter, the ‘Meri Mati, Mera Desh’ campaign have been envisaged not only as a tribute to the martyrs but also to instill the values of patriotism and service towards the nation and nation-building. The event also saw all the dignitaries take the Panch Pran pledge, the unveiling of ‘Shilaphalakam’, a memorial with the names of local freedom fighters as well as a tree plantation under ‘Vasudha Vandan’. Mumbai’s civic body has said it will carry out plantation drives across three locations, wherein saplings of 75 local species will be planted to create an ‘Amritvatika’.

 

6. National Institute of Industrial Engineering becomes the 21st IIM of India: Mumbai, the country’s financial capital, gets its own prestigious Indian Institute of Management as the National Institute of Industrial Engineering (NITIE) will be renamed as the IIM-Mumbai after both Houses of the Parliament passed the IIM (Amendment) Bill 2023. The NITIE will be 21st IIM in the country and a second in Maharashtra, after the IIM Nagpur which was first among the six new-generation IIMs established by the Government of India in 2015. Presently, NITIE ranked 7th in the Management Category by National Institute Ranking Framework (NIRF) in 2023. Located in Mumbai’s Powai, on the banks of Vihar Lake, NITIE has a campus spread across 63 acres of forested hilltop.

 

7. S Paramesh appoints as ADG of Coast Guard: S Paramesh has been appointed as Additional Director General of Indian Coast Guard. He specialized in Navigation & Direction and his sea commands include all major vessels of ICG. He is a recipient of the President’s Tatrakshak Medal for Distinguished Service and was also awarded the Director General Coast Guard Commendation in 2012 and FOCINC (East) Commendation in 2009.

 

INTERNATIONAL UPDATES:

 

1. India succeeds in reducing emissions rate by 33% over 14 years: According to two officials privy to the latest assessment made for submission to the United Nations, India’s greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years. Reason: Renewable energy generation rose and forest cover increased India is well on the way to meeting a commitment to the UNFCCC, to reduce emissions intensity by 45% from the 2005 level by 2030. India’s average rate of reduction in emissions increased to 3% annually during 2016-2019.

 

2. KSRTC wins Asia's Best Brand Employer Award 2023: The Karnataka State Road Transport Corporation (KSRTC) has won Asia's Best Brand Employer Award 2023 under the category 'Organisation with Innovative HR Practices'. It was announced at the 14th edition of the 18th Brand Congress and would be presented on August 17 in Singapore. KSRTC: It was inaugurated by the Mysore Road Transport Department on 12 September 1948. Later it was converted to an independent corporation and renamed Karnataka Road Transport Corporation.

 

3. INS Visakhapatnam and INS Trikand arrive in Dubai for a bilateral exercise: Two Indian Navy ships named INS Visakhapatnam and INS Trikand have arrived at Port Rashid in Dubai, United Arab Emirates. Reason: For a bilateral exercise 'Zayed Talwar 2023' with the UAE Navy The exercise is being organized from August 8 to 11, 2023. Aim: To share best practices and increase synergies between the two navies Led by Captains Ashok Rao and Pramod G Thomas, INS Visakhapatnam, and INS Trikand showcase advanced maritime capabilities.

4. World Lion Day 2023: 10th August: World Lion Day is observed every year on August 10 to highlight the importance of these majestic creatures and to garner support for their conservation. This day is also an opportunity to learn about the importance of lions in the natural world and the potential impacts of their extinction on humanity. The IUCN has designated the Asiatic Lion as an endangered species because of its limited population and constrained habitat.

 

5. Tehmasp Printer appointed as CEO for International Gemological Institute: International Gemological Institute (IGI), a Blackstone portfolio company, has appointed Tehmasp Printer as Global CEO of IGI, effective October 1, 2023. He would replace current CEO Roland Lorie, who will step down after spending nearly five decades. Tehmasp Printer has more than 30 years of experience in managing and leading businesses. He has been with IGI for 24 years, most recently as Managing Director of IGI India.

 

6. CBI Academy joins Interpol Global Academy Network: The Central Bureau of Investigation (CBI) Academy has joined the Interpol Global Academy Network at a virtual event. The CBI Academy has become the 10th member of the INTERPOL Global Academy Network, which will pave the way for the development and delivery of joint training programmes and research projects. The CBI Academy, based in Ghaziabad, is a premier training institution in the fields of crime investigation, prosecution and vigilance functioning. The three-year-old Interpol Global Academy Network aims to support Interpol in leading a global approach to law enforcement training. The CBI, which is a nodal body for all matters related to Interpol, conducts several international training programmes through its academy based in Ghaziabad, neighbouring Delhi. Several programmes have been conducted in collaboration with foreign agencies like US Homeland, French Embassy, FBI, NCCU UK, NCA UK, RCMP Canada along with four Interpol Global Programmes.

 

7. India to launch BRICS start-up forum: Union Minister of Commerce and Industry, Piyush Goyal represented India at the virtual 7th BRICS (Brazil, Russia, India, China, and South Africa) Industry Minister’s Meeting, hosted by South Africa During the meeting, Goyal announced India’s plans to launch the BRICS Startup Forum in 2023. The minister while highlighting the transformation that has taken place in India, also commented on the expanding Startup India initiative that has led to the creation of nearly 100,000 startups in the country. He focused on “Transforming Production Systems” and the support India can offer to other BRICS members and the wider international community. They also re-emphasized the need for digitalization, industrialization, innovation, inclusiveness, and investment among BRICS countries. Through the declaration, the BRICS members acknowledged the need for human resource development and exploring opportunities for cooperation on upskilling and reskilling programs.

 

8. 10 August – World Biofuel Day: World Biofuel Day is observed every year on 10 August. Objective – To create awareness about the importance of non-fossil fuels as an alternative for the energy sector. The day also tries to highlight the government’s efforts to promote the biofuel sector. August 10 was chosen to mark World Biofuel Day as it was on this date in 1893 that German inventor Sir Rudolf Diesel successfully used peanut oil to operate a diesel engine. This discovery was exceptional as it opened a new path from fossil fuels to renewable and sustainable energy sources.

 

OTHER UPDATES:

 

SPORTS

 

1. Neeraj Chopra to lead 28-member Indian team in World Athletics Championships: Olympic champion javelin thrower Neeraj Chopra will once again headline India’s campaign in the World Athletics Championships beginning on August 19 in Budapest, Hungary with the country fielding a 28-member team. Reigning Diamond League champion Chopra is gunning for a gold medal in Budapest after winning a silver in the last edition in Eugene, USA in 2022. He has won two Diamond League Meetings this season — in Doha on May 5 and Lausanne on June 30. His season’s best is the 88.67m in Doha, the third longest throw this season behind 89.51m of Jakub Vadlajch of Czech Republic and 88.72m of Julian Weber of Germany. Meanwhile, Asian record-holder shot putter Tajinderpal Singh Toor has pulled out of the August 19-27 showpiece as he is recovering from the groin injury he sustained during the Asian Championships in July.

 

BANKING AND FINANCE

 

1. PSBs and major private banks collected over ₹35,000 cr in char: As per the information shared by the FM in the Rajya Sabha, Public Sector Banks and 5 major private sector banks collected over ₹35,000 crore in charges since 2018 on account of non-maintenance of minimum balance, additional ATM transactions, and SMS Services. Breakdown of Charges: ₹21,000 crore on account of non-maintenance of minimum balance. Over ₹8,000 crore was collected for transactions through ATM beyond free numbers and SMS charges gave over ₹6,000 crore.

 

2. Reserve Bank of India keeps key interest rate unchanged for third time: According to the Reserve Bank of India (RBI) Monetary Policy, released in August 2023, the RBI's Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 percent.

Other Highlights:

·       The standing deposit facility (SDF) rate remains at 6.25%.

·       The marginal standing facility (MSF) rate and the Bank Rate at 6.75%.

·       RBI has revised the CPI inflation target for the current fiscal to 5.4%.

·       Projected real GDP growth for 2023-24: 6.5%

 

3. RBI imposes monetary penalty on 4 co-operative banks: RBI has imposed ₹1.50 lakh penalty on Shri Vinayak Sahakari Bank for contravention of provisions of Maintenance of Deposit Accounts. Mizoram Urban Cooperative Development Bank was also penalized of ₹20,000 for non-compliance with specific directions under Supervisory Action Framework and KYC directions Further, imposed a monetary penalty of ₹1.00 lakh on Shreeji Bhatia Cooperative Bank Ltd and ₹1.50 lakh on Shri Vinayak Sahakari Bank Ltd, Ahmedabad. Repo rate unchanged at 6.5%: The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the third bi-monthly monetary policy for FY24. The three-day meeting of the six-member Monetary Policy Committee (MPC) of RBI was held from August 8 to 10. The RBI kept the repo rate unchanged at 6.5%. Since May 2022, the central bank has raised the repo rate by 250 basis points (bps).

 

OBITUARIES

 

1. Renowned author Hari Narke passes away: Renowned author and vice-president of Samata Parishad, Hari Narke, passed away in Mumbai due to a heart attack at the age of 70. He was the professor of Mahatma Phule chair at Savitribai Phule Pune University and a former member of the Maharashtra Backward Class Commission. He was also a member of the Rangnath Pathare committee which was formed to collect evidence to prove Marathi as a classical language.