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.

Daily GK Update- 9th Aug, 2023

NATIONAL UPDATES:

 

1. "Meri Mati Mera Desh" campaign launched to pay tribute to the ‘Veers’: The nationwide campaign “Meri Mati Mera Desh” Campaign has been launched to pay tribute to the ‘Veers’ who laid down their lives for the country. AIM: It will include programs at the village, and block levels , by local urban bodies, as well as state and national level. During the campaign of “Meri Mati Mera Desh”, an Amrit Kalash Yatra will also be taken out. It will start on 9th August, with scheduled programs until Independence Day  2023.

 

2. PM Modi Launched ‘Bhartiya Vastra Evam Shilp Kosh’ E-Portalp: Prime Minister Narendra Modi launched the e-portal of ‘Bhartiya Vastra evam Shilp Kosh’ – a Repository of Textiles and Crafts developed by the National Institute of Fashion Technology (NIFT) in collaboration with the Ministry of Textiles in Delhi (August 2023). Aims:  To create a comprehensive catalogue of India's diverse clothing on a single platform. It has a craft atlas, a cultural artefact display, and a visual museum, among other things.

 

3. Parliament Passes Delhi Services Bill ( GNCTD Amendment Bill): The Rajya Sabha passed the Government of National Capital Territory of Delhi (Amendment) Bill in New Delhi in August 2023.  Aims: To make a corruption-free administration in Delhi The authority consists of the Delhi Chief minister, the Chief Secretary of Delhi, and the Principal Home Secretary of Delhi. The Authority will make recommendations to Delhi Lieutenant Governor regarding transfers and postings of officials and disciplinary matters.

 

4. Govt to Build Research Parks at 8 IITs, IISc Bangalore: Government has approved the setting up of research parks at eight Indian Institute of Technology and Indian Institute of Science Bangalore in August 2023. Aim: To strengthen the research ecosystem in the country Objectives: To enable entrepreneurship and incubation of students and building strong academic linkages for the same, to increase outreach of academic content to industry and enabling industry to add value to academic programme through close collaborations.

 

5. India to support clean water project at school in Tuvalu with 700,000 USD: India will contribute 700,000 USD from the India-UN Development Partnership Fund to the Tuvalu project in August 2023 Aim:  To store and supply clean water to students, teachers, and school staff, fostering good hygiene and lowering the incidence of water-borne illnesses. In May 2023, PM Narendra Modi announced the “Sagar Amrut Scholarship” scheme for the Pacific Island countries, at the Summit of the Forum for India–Pacific Islands Cooperation.

 

6. Indian Oil chairman Shrikant Madhav Vaidya’s tenure extended by a year: The Appointments Committee of the Cabinet (ACC) approved the proposal of the Ministry of Petroleum and Natural Gas for re-employment on a contract basis of Shrikant Madhav Vaidya, Chairman, Indian Oil Corporation Limited for a period of one year This is one of the very rare occasions when a director on the board of a PSU has been given an extension of service beyond his retirement age. No chairman of a Maharatna PSU has been given an extension beyond 60 years

 

7. Gujarat Govt implement One District One Product (ODOP) scheme: The government of Gujarat has implemented the One District One Product (ODOP) scheme with a grant of 58 crores rupees to promote its indigenous products at the international level. Under this scheme, more than 25 handicraft products have been selected from 21 districts of the state. The ODOP initiative is aimed at fostering balanced regional development across all districts of the country, enabling holistic socio-economic growth across all regions. The objective is to focus on the district of the country as a unit for converting into a manufacturing and export hub by identifying products with export potential in the district.

 

8. Indian Army inducts BEL-developed Swathi Mk2 radar: Indian Army inducted the lighter and more compact version of the developed Weapon Locating Radar (WLR-M) called “Swathi Mountains.” Objective – To enhance the Army’s battlefield surveillance capabilities, enabling it to effectively monitor and respond to threats in mountainous regions. The Swathi Mountains WLR is an advanced electronically scanned phased array radar, specifically designed for operations in mountainous and high-altitude areas and was developed by Bharat Electronics Limited (BEL) in Bengaluru. What is a Weapon Locating Radar? The Weapon Locating Radar (WLR) stands as a critical asset for modern militaries, employing advanced signal processing techniques to autonomously detect and track hostile artillery, mortars, and rocket launchers. Notably, it even tracks friendly fire trajectories, enabling precise calculations for more accurate artillery strikes. The radar’s sophistication lies in its ability to detect and track small projectiles across the battlefield while factoring in environmental conditions for precise launch and impact point estimations.

 

INTERNATIONAL UPDATES:

 

1. International Day of the World's Indigenous Peoples is observed on August 9: The world observes World Tribal Day or World Indigenous Day on August 9th, dedicated to advocating for and safeguarding the rights of indigenous populations. Aim: To offer a prime opportunity to actively work towards safeguarding the fundamental rights of tribal communities worldwide Goal: To safeguard the rights of these populations and ensure their voices received global recognition. Theme for 2023: “Indigenous Youth as Agents of Change for Self-determination."

 

2. INS Chennai engages in joint exercise with Royal Saudi Naval Ship:  INS Chennai Mission Deployed in the Red Sea Undertook Passage Exercise (Passex) with Royal Saudi Naval Ship HMS Al Jubail in Aug 2023. The Indian Navy's indigenously designed and constructed guided missile destroyer INS Chennai is Mission Deployed in the Red Sea. Aim:  To reinforcing mutual trust, cementing operational understanding and enhancing Interoperability between navies, to boost defence co-operation between India and Saudi Arabia, INS Chennai’s visit to Jeddah

 

3. World Trade Organization ranks India 18th in merchandise exports 2022: According to the World Trade Statistical Review 2023,the annual flagship publication of the World Trade Organization (WTO), India is ranked 18th among the Leading exporters in world merchandise trade (2022). On a global scale, India holds the 9th spot in merchandise importing and ranks 7th in merchandise exporting (2022). The leading exporters in world merchandise trade for the year 2022 are China, the USA, and Germany, occupying the top three positions.

 

4. Guyana to buy Indian Dorniers Aircrafts manufactured by HAL: Guyana to the purchase of two Dornier 228 aircraft from Hindustan Aeronautics Limited (HAL). Guyana is also interested in purchasing patrol vessels, a fleet of armoured vehicles, and radar systems. Guyana and India will also step-up personnel training to improve military-to-military contacts and Guyana is collaborating with India on cybersecurity and IT operations. India and Guyana will improve military-to-military contacts through personnel training.

 

5. Australia to host latest edition of 10-day Malabar exercise: The 31st edition of the Malabar multilateral exercise comprising India, Australia, Japan, and the U.S. will be held in Sydney from August 11-21. Australia is also the host for this mega event which is being hosted there ‘for the first time’. The exercise will take place in a large designated area, the East Australian exercise area, spread over a couple of hundred miles off Sydney and will have a harbour and sea phase. Exercise Malabar will be followed by AUSINDEX, the India-Australia bilateral naval exercise. In the past, officials have termed Malabar as the most complicated naval exercise that India does. Australia has also just hosted multilateral Exercise Talisman Sabre, which involved more than 33,000 troops from 13 countries, for which India had sent four observers. The Malabar series of exercises began as an annual bilateral naval exercise between India and the US in 1992.

 

6. 9 August – Nagasaki Day: Japan’s Nagasaki marked the 78th anniversary of the US atomic bombing. Nagasaki Day is being observed across the globe to promote peace and create awareness about the threat of nuclear weapons. This day plays an important role as it focuses on anti-war and anti-nuclear demonstrations in many countries. On August 9, 1945, the United States dropped the second nuclear bomb named ‘Fat-man’ on the southern Japanese city, three days after Hiroshima was destroyed by the first one – a uranium bomb- ‘Little Boy’.

 

OTHER UPDATES:

 

SPORTS

 

1. Savita won the only 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 aCadet Wrestling Championships 2023 in Turkey India bagged a total of 11 medals, including 1 gold, 7 silver and 3 bronze at the World Cadet Wrestling Championship 2023 at Istanbul. It was the women’s freestyle where India showed best by finishing third, only behind Japan and USA.

 

BANKING AND FINANCE

 

1. SBI Life appointed Amit Jhingran as MD & CEO: The Insurance Regulatory and Development Authority of India (IRDAI) has given its official approval and appointed Amit Jhingran as the managing director & CEO of SBI Life Insurance Company in Aug 2023 He had a successful career with the State Bank of India spanning over 30 years. Currently, he serves as the chief general manager of the Hyderabad Circle.  He started as a probationary officer in August 1991 and has held various positions in international banking.

 

2. Bajaj Finance partnered with ICICI Lombard General Insurance: ICICI Lombard General Insurance and Bajaj Finance have joined forces to offer car and two-wheeler insurance plans through the Bajaj Finance Insurance Mall platform inn August 2023 Customers can easily purchase these policies on the platform, enjoying a fully digital and smooth customer experience. 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.

 

3. Postal Life Insurance launches direct incentive disbursement for sales staff: Postal Life Insurance (PLI) has launched the ‘Direct Incentive Disbursement’ for its sales force in the Delhi and Uttarakhand circles. The insurance sector player has taken the step-in order to benefit its sales staff — who are the driving force behind the department’s growth. Through the ‘Direct Incentive Disbursement’ feature, agents will be able to seamlessly receive the transfer of their commissions from the previous month directly to their Post Office Savings Bank (POSB) Accounts. The initiative will impact around two lakh sales force members across the nation, including Gramin Dak Sevaks, Direct Agents, Field Officers, and Departmental Employees.

 

4. Bandhan Bank ties up with Odisha govt to strengthen OTDC: Bandhan Bank has partnered with the state government for Odisha Tourism Development Corporation to ramp up the state tourism department’s payment solutions. The bank has provided Point of Sale (PoS) machines to facilitate card payments by tourists. Prime locations including Puri, Bhubaneshwar, Konark, Chilka, and Gopalpur will be covered under this tieup. The PoS machines will hasten tourist payment collections, bringing convenience to both the tourists and OTDC.

 

AWARDS AND HONOURS

 

1. Jayesh Saini receives Global Leader Award 2023: Jayesh Saini was awarded Global Leader Award 2023 for Healthcare Expansion in Africa. LifeCare Group, led by Jayesh Saini, has expanded healthcare services across East Africa with hospitals in five major parts of Kenya and plans for 10 more in different regions of Africa. With LifeCare hospitals already established in five major parts of Kenya (Bungoma, Eldoret, Kikuyu, Meru, and Migori), Saini’s passion drives him to lay the foundation for 10 additional hospitals in different regions of Africa. This ambitious endeavor aims to increase the total bed capacity to over 2,600 by 2024. Moreover, LifeCare Group has advanced plans to establish hospitals in other Eastern African nations, including Rwanda, Tanzania, Gabon and the Republic of Congo. These hospitals will be equipped with super specialty clinics such as Cardiology, Orthopaedic, Oncology, Nephrology, Radiology, and more. The combined bed capacity of LifeCare hospitals across the region will exceed 4,100 beds by 2027.

 

2. Tamil Nadu won best State award for organ and tissue transplantation: Tamil Nadu bagged the Best Performing State Award 2023 in cadaver organ donation. Health Minister Mansukh Mandaviya presented the Best State Organ and Tissue Transplant Organization award to Health Minister Ma Subramanian at the 13th Indian Organ Donation Day function held in New Delhi. Tamil Nadu continues to lead in organ donations with 1,705 people donating their organs to save 6,247 human lives. Since 2008, 1,705 people donated their organs facilitating 786 heart, 801 lung, 1,565 liver and 3,046 kidney transplants, 37 pancreases, besides small intestines, and other organs, totally benefitting 6,247 recipients so far. The National Organ and Tissue Transplant Organization (NOTTO) award was presented at the 13th Indian Organ Donation Day (IODD) ceremony meant to facilitate the donor families, in the national capital. About 40 government hospitals and 120 private hospitals across the state have been provided organ harvest licenses. Transplants were performed even under the Chief Minister’s Comprehensive Health Insurance Scheme. In the last two years, 292 people donated their organs to benefit 1,062 people.

 

OBITUARIES

 

1. Famous Filmmaker Siddique passed away at the age of 63: Prominent filmmaker Siddique passed away at the age of 63.  His journey in the world of Malayalam cinema began with his directorial debut, "Ramji Rao Speaking" along with his friend Lal. The duo created some of the Malayalam film industry's biggest comedy blockbusters, including "In Harihar Nagar," "Godfather," "Vietnam Colony," "Ramji Rao Speaking," and "Friends," among others. He also directed films in Tamil, Telugu, and Hindi.

Daily GK Update- 8th Aug, 2023

NATIONAL UPDATES:

 

1. Indian Army inducts BEL developed Swathi Mk2 radar: Indian Army inducted the lighter and more compact version of the  developed Weapon Locating Radar (WLR-M) called "Swathi Mountains." Aim: To enhance the Army's battlefield surveillance capabilities, enabling it to effectively monitor and respond to threats in mountainous regions. Developed by Bharat Electronics Limited (BEL) in Bengaluru, and designed for operations in mountainous and high-altitude areas, catering to the unique challenges posed by such terrains.

 

2. Rajasthan Cabinet approved formation of 19 districts, 3 divisions in stat: The Rajasthan Cabinet approved  the proposal of a high-level committee to form 19 new districts and 3 new divisions in the State. Rajasthan will now have a total of 50 districts and 10 divisional headquarters.  According to CM Ashok Gehlot formation of new districts will improve governance and bring relief to people who have to cover long distances to go to the district headquarters.  The new districts are like, Jaipur has been divided into Jaipur and Jaipur Rural

 

3. Bihar constitutes ‘Rhino Task Force’ to revive rhino conservation in Valmiki Tiger Reserve: The Bihar government will set up a ‘Rhino Task Force’ to propose measures to restart the rhino conservation plan in ‘Valmiki Tiger Reserve’ (VTR) located in West Champaran district. At present there is only one rhino in VTR and 14 rhinos in Patna Zoo. The VTR has seen a significant increase in the tiger population, prompting state wildlife officials to focus on reviving the rhino population in the region. Valmiki Tiger Reserve has been selected as a potential site under the National Rhino Conservation Plan. This national-level scheme allows rhinos to be introduced into Valmiki Tiger Reserve from other reserves across the country to boost their conservation. India plays a critical role in the conservation of the one-horned rhinoceros species. Approximately 75% of the world’s rhino population is found in India. Notably, over 93% of India’s rhino population resides in just one protected area, the Kaziranga National Park in the state of Assam.

 

4. PM Modi launched Amrit Bharat Station Scheme (ABSS) in 13 railway stations: Prime Minister Narendra Modi has launched the Amrit Bharat Station Scheme (ABSS) through a video link from Delhi, Which aims to revitalize 508 railway stations across India and turn them into world-class travel hubs. These 508 stations are spread across 27 states and union territories, including 55 each in Uttar Pradesh and Rajasthan, 49 in Bihar, 44 in Maharashtra, 37 in West Bengal, 34 in Madhya Pradesh, 32 in Assam, 25 in Odisha, 22 in Punjab, 21 each in Gujarat and Telangana, 20 in Jharkhand, 18 each in Andhra Pradesh and Tamil Nadu. Besides 15 stations are in Haryana and 13 in Karnataka. The redevelopment, which will cost ₹ 24,470 crore, will provide modern passenger amenities along with ensuring well-designed traffic circulation, inter-modal integration and well-designed signage for guidance of passengers, the PMO had said in a statement, adding that the design of station buildings will be inspired by local culture, heritage, and architecture. Guided by this vision, the ‘Amrit Bharat Station Scheme’ was launched to redevelop 1,309 stations. As part of this scheme, the foundation stone for redevelopment of 508 stations was laid by the prime minister.

 

5. 8 August – Quit India Movement Day: Every year Quit India Day is observed every year on August 8 to commemorate occasion, which was a defining moment in the history of India’s freedom struggle. The day is also an occasion to pay tribute to the freedom fighters who have sacrificed their lives for independence of the country. Quit India Movement, also known as the “Bharat Chodo Andolan”, was launched by Mahatma Gandhi on August 8, 1942. The movement was a mass movement was launched at the Bombay session of the All-India Congress Committee (AICC). Gandhiji gave the clarion call of ‘Do or Die’ to the countrymen for a decisive fight against the British rule. During World War II, the British empire, which was a part of the allied forces, wanted to utilise Indian resources and manpower in the war. Until 1942, more than 90,000 Indian soldiers were killed in the war. Later a member of the war cabinet, Stafford Cripps was sent to India to get cooperation in the war, while several protests were already triggered in the country.

 

6. 7 August – Javelin Throw Day: Javelin Throw Day is celebrated every year on August 7 in India.

The Athletics Federation of India, the apex body for athletics in India, took the decision to celebrate August 7 as the National Javelin Day to commemorate Neeraj Chopra’s historic gold medal during the Tokyo Olympics. It was on August 7 2021, that Chopra hurled javelin at a distance of 87.58m during the men’s Javelin Throw final of the Tokyo Games to win the gold medal. Chopra scripted history as it was India’s first-ever gold medal in Track and Field events in Olympics. With the gold medal at Tokyo, Chopra also became the second individual gold medalist from India after Abhinav Bindra’s gold-medal-winning performance at the 2008 Beijing Games.

 

INTERNATIONAL UPDATES:

 

1. Indian-origin Vaibhav Taneja: The new CFO of TESLA: Tesla appointed Indian-origin Vaibhav Taneja as Chief Financial Officer of the company replacing Kirkhorn. He initially assumed the role of Corporate Controller in May 2018, and his commitment and competence led to his elevation to the position of CAO in March 2019. His portfolio encompassed the critical domains of financial reporting, tax compliance, and internal controls, underscoring his pivotal role in upholding Tesla's fiscal integrity.

 

2. India hands over 450 million for Sri Lanka Unique Digital Identity project: India has handed over INR 450 million in advance to Sri Lanka to fund its unique digital identity project. It is the most crucial step in the island nation’s digitalization program being implemented through the Indian grant assistance. The project aims to collect biographic and biometric information, including facial, iris, and fingerprint data, which will be stored in a centralized system to issue identification cards as per the standards set by the International Civil Aviation Organization (ICAO). The implementation of the project would lead to more effective and efficient delivery of government services, poverty reduction and welfare programs; financial inclusion through better access to banking and other products/services. The project commenced with the signing of a MoU between Sri Lanka and India in March 2022 and an Indo-Sri Lanka Joint Project Monitoring Committee (JPMC) for the Sri Lanka Unique Digital Identity Project (SL-UDI) was introduced. The Government of India is overseeing the software development for the SL-UDI.

 

3. FEDA hosts International Education Summit in Dubai on academic excellence: The Federation of Economic Development Association (FEDA) hosted the International Education Summit & Conference 2023 at Hamdan Bin Mohammed Smart University (HBMSU) in Dubai. The event was attended by more than 120 participants from various academic disciplines. The summit was aimed at providing a platform for ambitious minds to showcase academic excellence. It featured a conference on the topic of Innovative Research In Economics Management, Information Technology and Legal Studies. This international platform provided scholars with an opportunity to present their cutting-edge research and findings, facilitating the exchange of ideas and knowledge.

 

4. Cambodian King Norodom Sihamoni appoints Hun Manet- as the new PM: Cambodia’s King Norodom Sihamoni has appointed former Prime minister Hun Sen’s son – Hun Manet- as the new prime minister of the country. A royal decree was issued by the King stating that he appoints Dr. Hun Manet as the prime minister. While the King has appointed Hun Manet as the PM, the leader and his cabinet must win the confidence vote on August 22 to assume office. During the Cambodian Elections 2023, Hun Sen’s party – the Cambodian People’s Party – won with a landslide victory. Days after their victory, former PM Hun Sen announced that he will be stepping down as the Prime Minister, after assuming office in 1998.

 

OTHER UPDATES:

 

SPORTS

 

1. Pramod and Sukant won a gold medal in Four Nations Para-Badminton 2023: In the Four Nations Para-Badminton International 2023 held in England, the top-ranked men's doubles duo of Pramod Bhagat and Sukant Kadam clinched a gold medal in the SL3-SL4 category.  They achieved this victory by defeating Ranjan Bisoyee and Manoj Sarkar. Bhagat secured a silver medal in the singles SL3 category, and he also teamed up with Manisha Ramdass to claim a silver medal in the mixed doubles SL3-SU5 category.  Kadam won a bronze in the singles SL4 category.

 

2. H.S. Prannoy won Silver medal in Australian Open Super 500 badminton 2023: The ninth-ranked Indian shuttler HS Prannoy won silver at the Australian Open Badminton 2023 final in Sydney  He went down fighting against World No. 24 Weng Hong Yang of China. He also bagged the silver medal in Boys' singles at the 2010 Summer Youth Olympics. He followed it up with another silver, this time at the Bahrain International Challenge, in 2011.

 

3. Alex Hales announces retirement from international cricket: England batsman Alex Hales has announced his retirement from international cricket at the age of 34. Hales, aged 34, was one of the leading figures of England’s change in approach to white-ball cricket under Eoin Morgan after the 2015 World Cup. He was also a key figure in them winning the 2022 T20 World Cup. Hales played 11 Test matches, 70 ODIs and 75 T20Is, having made his international debut in a T20 match against India in Manchester in August 2011. He was dropped from England’s 2019 ODI World Cup squad, and exiled from international cricket for three years thereafter after news of a failed recreational drugs test broke a month before the tournament and spent nearly three years in exile.

 

BANKING AND FINANCE

 

1. PayPal becomes first major fintech to launch dollar-backed stablecoin: Payments company PayPal has launched a US dollar stablecoin, becoming the first major financial technology firm  Aim: To embrace digital currencies for payments and transfers. Stablecoins are a type of cryptocurrency that typically track the value of a major currency such as the dollar one-for-one.  They play a key role in connecting traditional and crypto markets, as traders use the coins like cash in order to move in and out of trades without paying high fees.

 

2. Postal Life Insurance Launched Direct Incentive Disbursement: Postal Life Insurance has introduced the ‘Direct Incentive Disbursement’ program in the Delhi and Uttarakhand circles Aim: To ensure that it receives its hard-earned commissions from the previous month directly to their Post Office Savings Bank accounts. Swift and Secure Transactions: Salesforce receives incentives directly in their POSB accounts. Convenience and Motivation: Salesforce can conveniently manage their funds, and immediate rewards drive optimal performance.

 

3. RBI data: Bank credit growth to MSMEs decelerates in Q1: According to RBI, Bank credit growth to Micro, Small and Medium Enterprises (MSMEs) has decelerated on a year-on-year basis in the first three months of the FY 2023 As per the latest Reserve Bank data, the credit to medium industries in June grew by 13.2 per cent (47.8% 2022) and micro and small industries by 13 per cent (29.2 % 2022). Gross bank credit outstanding to medium industries in June 2023 was Rs 2,63,440 crore compared to Rs 2,32,776 crore in June 2022

 

4. Domestic companies raised Rs 9.8 lakh cr from market in FY23: According to the SEBI report, Domestic companies raised Rs 9.8 lakh crore from capital markets in the fiscal 2022-23, which was 4.6 per cent higher than the amount raised in the fiscal 2022 The capital market regulator said that the funds were raised for the financing needs of the companies through various instruments such as equity, debt, AIFs, REITs, and InvITs. According to the SEBI its recovery from erring market participants for the year stood at Rs 6,031 crore

 

5. Banks write off Rs 14.56 lakh crore NPAs in last nine financial years: Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15 in Aug 2023. Out of the total Rs 14,56,226 crore, written off loans of large industries and services stood at Rs 7,40,968 crore. According to Minister of State for Finance Bhagwat Karad Scheduled Commercial Banks have recovered an aggregate amount of Rs 2,04,668 crore in written-off loans, including corporate loans, since April, 2014 2022 and up to March, 2023.

 

OBITUARIES

 

1. The Exorcist' Director William Friedkin Dies At 87: The Famous US director William Friedkin passed away at the age of 87. He directed movies like The Exorcist" and "The French Connection". Friedkin exploded onto the Hollywood scene in 1971 with the gritty cop drama "The French Connection." It won five Oscars, including for best director and best picture. Friedkin followed that up with "The Exorcist," in 1973. It was a huge commercial and critical hit, as well as being deeply controversial.

 

2. Padma Bhushan awardee and IAS officer N Vittal passes away: The Padma Bhushan awardee and IAS officer of the Gujarat cadre, 1960 batch, N Vittal passed away in Chennai. He was a former Telecom Secretary and Central Vigilance Commissioner (CVC). His experience of more than 40 years covered a wide spectrum with focus on industrial administration, science and technology, and security. As Chairman of the Telecom Commission, he also initiated the process of liberalization in the telecom sector and played a major role in getting the National Telecom Policy 1994 approved. He authored a book titled Corruption in India – The Roadblock to National Prosperity.