NATIONAL UPDATES:
1. Indian
Navy participated in Exercise Malabar 2023 with indigenous warships: Indian Navy's indigenous frontline warships INS Sahyadri and INS
Kolkata (11-days long) participated in Exercise MALABAR 2023 in Australia Aims: To
enhance and demonstrate interoperability and also gain from the best practices
in maritime security operations from its partner nations. Ships and aircraft
from the US Navy, Japan Maritime Self-Defence Force, and for the first
time the Royal Australian Navy will also participate in the exercise.
2. ISB
signed MoU with Goa government for knowledge partnership: The Indian School of Business (ISB’s) Bharti Institute of Public
Policy signed an MoU with the Goa government in August
2023. Aims: To begin a knowledge partnership with a focus on
evidence-based policy formulation and its impact in the State. Objectives: To
improve the social and economic prosperity indicators through evidence-based
public policy interventions, capacity-building workshops, and citizen-centric
governance-based initiatives as a knowledge partner.
3. IIITD-IC
partners with YES BANK; aims to scale up Indian startups: Indraprastha Institute of Information Technology Delhi Innovation and
Incubation Centre (IIITD-IC), signed a MoU with YES
BANK in August 2023 Aims: To enable IIITD-IC to strengthen its mentoring
initiatives for startups, as well as identify newer investment and funding
opportunities that can benefit startups. Under the partnership, YES BANK
will offer banking facilities to Startups that are in a developmental phase at
IIITD-IC under the Bank’s YES HeadStartup program.
4. Centre
approves establishment of new spaceport in Tamil Nadu: Minister of State Science
& Technology Jitendra Singh has approved the establishment of a new spaceport in Kulasekarapattinam, Tamil Nadu in
August 2023.
Aims: To carrying out the launches of the Small Satellite Launch
Vehicles developed by ISRO.
The Indian Space Policy 2023 has the provision
for utilisation of a spaceport for carrying out launch activities by
Non-Government Entities, subject to technical feasibility and range safety
constraints.
5. Air
India gets a makeover with a new logo: Air
India unveiled its mega brand makeover and new logo, which signifies “limitless
possibilities” in August 2023. AI’s new logo 'The Vista’ includes a
modern design with golden, red and purple colours. It is inspired by the peak
of the gold window frame, signifying limitless possibilities, progressiveness,
and the airline’s bold, confident outlook for the future. It represents the
spirit of a bold new India, marking a significant turning point in its Vihaan.
6. New
Amravati Station Becomes Central Railway’s Third ‘Pink Station’: Central Railway has inaugurated the New Amravati station as the 1st
“Pink Station” on the Bhusaval Division and the 3rd station on Central Railway
to be fully managed by an all-women staff. The examples are set by Matunga
station in the Mumbai division and Ajni station in the Nagpur division. Railway
has a staff strength of 12 women employees including 4 Deputy Station
Superintendents, 4 Pointswomen, 3 Railway Protection Personnel and 1
Ticket Booking Agent
7. Sebi
halves listing timeline to 3 days post IPO closure:
The Securities and Exchange Board of India reduced the timeline for
listing of securities after the closing of an initial public offering
to three days from the present requirement of six working days The
reduction in timelines will benefit both issuers as well as investors Issuers
will have faster access to the capital raised thereby enhancing the ease of
doing business, and the investors will have opportunity for having early credit
and liquidity of their investments
8. The
Securities and Exchange Board of India reduced the timeline for listing: Health Minister, Mansukh Mandaviya, declared the goal
of suppressing Lymphatic Filariasis by 2027 during the inauguration of the
second phase of the Annual Nationwide Mass Drug Administration initiative. The
second phase, targeting 81 districts across nine endemic states, including
Assam and Uttar Pradesh. He highlighted the "Whole of
Government" and "Whole of Society" approach as pivotal to
successfully eliminating the disease.
9. Kerala Assembly passes resolution to rename ‘Kerala’
as ‘Keralam’: The Kerala Legislative
Assembly unanimously passed a resolution urging the Central
Government to change the name of the state from ‘Kerala’ to
‘Keralam’. The resolution was moved by CM Pinarayi Vijayan who stated that the
name ‘Keralam’ is used in the Malayalam language. The resolution said, “The
name of our state in Malayalam is Keralam. States were formed on the basis of
language on November 1, 1956. That day is also observed as Kerala formation
day. The demand for a united Kerala for all Malayalam-speaking communities has
been strongly raised right from the days of the freedom struggle. However, the
name of our state in the First Schedule of the Constitution has been written as
Kerala. This Assembly is unanimously requesting the Union Government to take
immediate steps under Article 3 of the Constitution to change the name of the
state to Keralam.
10. Government e-Marketplace (GeM) celebrates 7th
Foundation Day: Government e-Marketplace
(GeM) commemorates its 7th Foundation Day on 10 August 2023. GeM has
consistently demonstrated an unwavering commitment to fostering positive
change, and its journey over the past seven years has been marked by remarkable
achievements that have propelled it to become one of the largest public
procurement portal in terms of both transaction value and the breadth of the
buyer-seller ecosystem In an astonishingly short span of time, GeM has
surpassed the achievements of renowned public procurement platforms such as
South Korea’s KONEPS and Singapore’s GeBIZ. In 2023, GeM achieved a milestone
of INR 2 lakh crore in Gross Merchandise Value (GMV) for the fiscal year
2022-23. GeM is India’s online marketplace for public procurement. Launched in
2016, GeM facilitates transparent and efficient procurement for government
departments, organizations, and PSUs.
INTERNATIONAL UPDATES:
1. Russia
launched its lunar lander after almost 5 decades:
Russia launched its first lunar landing mission on August 11 2023
after almost 5 decades. A Soyuz 2.1v rocket carrying the Luna-25
craft will blast off from the Vostochny cosmodrome targeted to the south
polar region of the Moon. Aims: To study composition of the polar
regolith, and to study the plasma and dust components of the lunar polar
exosphere. According to the Russia's space chief Yuri Borisov the spacecraft is
expected to reach the lunar world on Aug 21 2023.
2. North
Korean leader Kim Jong Un replaces its Chief of General Staff, Pak Su: North Korean leader Kim Jong Un has replaced its Chief of General
Staff, Pak Su Il who previously served as Defence Minister in August 2023. He
set a target for the expansion of weapons production capacity. He has
instructed the military to be prepared in case of war and also directed to
conduct drills with country's latest weapons and equipment. Pak Su Il served as
the top commander of its conventional troops.
OTHER UPDATES:
SPORTS
1. Savita won gold at World Cadet Wrestling Championship
2023: Indian wrestler Savita, who entered the event as
the defending champion, won the only gold medal for India in the
women’s 61kg weight division in World Cadet Wrestling Championships 2023. India
bagged a total of 11 medals, including 1 gold, 7 silver, and 3 bronze at
the World Cadet Wrestling Championship 2023 in Istanbul, Turkey. India finished
sixth in the men’s freestyle and fourth in men’s Greco-Roman team rankings as
well. However, it was the women’s freestyle where India shone best by finishing
third, only behind Japan and USA, with 118 points in the team rankings.
BANKING AND FINANCE
1. Airtel
Payments Bank Launched India’s 1st Eco-Friendly Debit Card: Airtel Payments Bank has become the first Indian bank to
launch an eco-friendly debit card for its new and existing customers
with a savings bank account in Aug 2023 The debit cards will be made from
certified eco-friendly r-PVC (recycled polyvinyl chloride)
material, which is environmentally safe.
Producing
the r-PVC cards will lead to a 43 percent reduction in hydrocarbon
usage, effectively decreasing petroleum consumption during the
manufacturing process.
2. India’s
first AU bank to provide 24x7 video banking service.: AU Small Finance Bank Limited (AU Bank), has become the first financial
services provider in India to launch a 24x7 live video banking service in
August 2023. Aims: To provide a virtual platform where customers can
communicate with a video banker in real time via video calls, like video
conferencing. Objectives: To extend the reach of banking services to areas
with limited infrastructure and resources, offering a convenient and
personalized banking experience.
3. RBI
Unveils AI-Powered “Conversational Payments” for UPI Transactions: The Reserve Bank of India (RBI) has
introduced Artificial Intelligence-powered conversational features on
UPI, in August 2023. Aims: To enable digital payments through voice
commands The concept, known as “Conversational Payments,” introduces a
dynamic and user-friendly approach to transactions
Objectives: To
allow users to initiate payments seamlessly within chat or messaging
conversations, transforming routine interactions into instant financial
exchanges
4. Bajaj Finance partnered with ICICI Lombard to offer
insurance plan: Bajaj Finance has partnered with
ICICI Lombard General Insurance along with other partners to provide
car and two-wheeler insurance plans on the platform Bajaj Finance
Insurance Mall. These policies can be bought instantly on the platform through
an all-digital and seamless customer experience journey. The ICICI Lombard Car
and Two-wheeler Insurance policies offer comprehensive damage coverage,
including third-party cover and various add-on benefits to vehicle owners. These
policies provide extensive coverage against various risks and damages to
vehicles.
AWARDS AND HONOURS
1. Subhash Runwal receives the Lifetime Achievement Award
RICS: Subhash Runwal, Chairman – Runwal, a leading real
estate developer with a legacy of over four decades, has been recognized with
the Lifetime Achievement Award at the first-ever RICS South Asia Awards. RICS
(Royal Institution of Chartered Surveyors) is a global industry body
representing professionals across the country. Hosting its first-ever awards,
it aimed to recognize global and Indian industry-leading achievements and
demonstrate the upholding of the highest standards of professionalism and
ethics by individuals and teams across built and natural environments. This
recognition is a testimony to Runwal’s exceptional contributions, outstanding
achievements, and unwavering dedication to the real estate sector.
OBITUARIES
1. Filmmaker Siddique passes away in Kochi: Prominent filmmaker Siddique passed away at the age of 63 in Kochi. Siddique’s journey in the world of Malayalam cinema began with his directorial debut, “Ramji Rao Speaking” along with his friend Lal. He and his friend Lal started their directorial journey as the ‘Siddique-Lal’ duo. They marked their debut with the comedy film Ramji Rao Speaking (1989). Other Iconic films include In Harihar Nagar (1990), Godfather (1991), Vietnam Colony (1992) and Kabooliwala (1993). His solo venture films include Hitler, Friends, Chronic Bachelor, and Bodyguard.
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