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 AFFAIRSCLOUD TODAY
Current Affairs 16 September 2023 : Headlines

Highlights of President Droupadi Murmu’s Visit to Gujarat from September 12-13, 2023
Highlights of Saudi Arabia’s PM HRH Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud visit to India
Union Minister Dharmendra Pradhan launched Skill India Digital Platform
MCA Extends Tenure of Company Law Committee by 1 Year
MHA Cancels FCRA Licence of Bal Raksha Bharat & 2 other NGOs
India Becomes 13th Country to Issue OIML Certificate
Yes Bank Partners with Juspay to Launch HyperUPI, NPCI’s UPI-based Plug-in Service
NPCI Launches India’s First Contactless Payment Wearable “OTG Ring”
IndusInd Bank launched ‘Virtual Commercial Credit Card’ in Collaboration with Visa and Juspay
Fitch Retains India’s Growth Forecast at 6.3% for FY24: Global Economic Outlook Sept 2023
Mastercard India Appoints Former SBI Chief Rajnish Kumar as Non-Executive Chairman
Moldova’s 1st President Mircea Snegur Passed Away
International Day of Democracy 2023- September 15
National Engineer’s Day 2023- September 15
Haryana CM Launched New e-Bhoomi Portal for Land Purchas

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 NATIONAL AFFAIRS
Highlights of President Droupadi Murmu’s Visit to Gujarat from September 12-13, 2023
Droupadi Murmu, President of India, was on a two-day visit to Gujarat from September 12 to 13, 2023. During
her visit,

• She inaugurated the Gujarat Assembly’s ‘National e-Vidhan Application’ (NeVA) project and
addressed the members of the Gujarat Legislative Assembly at Gandhinagar.
• She also virtually launched the Ayushman Bhav initiative of the Ministry of Health and Family
Welfare (MoH&FW) from the Raj Bhavan, Gandhinagar, Gujarat.
President of India Inaugurates NeVA and Addresess the Gujarat Legislative Assembly
President Droupadi Murmu on her 2-days visit to Gujarat, inaugurated the ‘National e-Vidhan Application’
(NeVA) which aims to make the functioning of the State Assembly paperless by transforming them into ‘Digital
House’.
• E-Vidhan would enable the Members of the Legislative Assembly (MLAs) to stay connected with
their constituents.
Key Points:
i.The integration of the NeVA platform enables assembly members to access and adopt best practices from the
Parliament and other legislative bodies across India.
ii.The vision of “One Nation, One Application” would enhance the efficiency and transparency of the Gujarat
Legislative Assembly. Additionally, the shift to digital processes is expected to contribute to environmental
sustainability by reducing paper usage.
About National e-Vidhan Application (NeVA)
i.National e-Vidhan Application (NeVA) is one of the 44 Mission Mode Projects (MMPs) under the “Digital India
Programme” of the Government of India (GoI)
ii.It is a work-flow system deployed on the National Information Centre (NIC) Cloud, MeghRaj which helps:
• The Chair of the House to conduct the proceedings of the House smoothly;
• Members to carry out their duties in the House efficiently and
• To conduct Legislative Business of the House in a Paperless manner.
iii.NeVA is a device-neutral and member-centric application created to equip them to handle diverse House
Business smartly. NeVA is inspired by the GoI’s visionary concept of ‘One Nation-One Application’.
President Droupadi Murmu Launched Ayushman Bhav Campaign Virtually in Gujarat
On 13th September 2023, President Droupadi Murmu virtually launched the Ayushman Bhav campaign as well
as the Ayushman Bhava portal from the Raj Bhavan in Gandhinagar, Gujarat.
• The launch of the Ayushman Bhav campaign and the portal marked a significant step towards
achieving Universal Health Coverage (UHC) and ensuring healthcare for all.
• The campaign aims to deliver healthcare services to the last mile and consolidate access and
affordability for underserved populations.

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Key People:
The launch event was attended by Mansukh Mandaviya, Union Minister MoH&FW; Bhupendrabhai Patel, Chief
Minister (CM) of Gujarat; Bharati Pravin Pawar, and SP Singh Baghel, Ministers of State(MoS) MoH&FW; VK
Paul, Member (Health), National Institution for Transforming India (NITI) Aayog and other senior officials.
Key Points:
During her address, President Murmu highlighted the principles of “Antyodaya” (good health for all and
leaving no one behind) and praised the role played by local governance in this attempt and the significance of
Ayushman GPs, the government’s commitment to sustainable development goals (SDGs), and the upcoming
Seva Pakwada initiative.
• Seva Pakwada initiative, is set to run from September 17 to October 2, 2023, with an aim to provide
essential health services to every citizen, furthering the mission of “antyodaya.”
About Ayushman Bhav:
i.The ‘Ayushman Bhav‘ campaign, launched by the MoH&FW is a pioneering nationwide healthcare initiative
designed to achieve complete healthcare coverage, encompassing every village and town in India. It signifies a
transformative shift in healthcare service delivery.
Aim: ‘Ayushman Bhav’ aims to create momentum to increase awareness about the Pradhan Mantri Jan
Arogya Yojana (PMJAY), Ayushman Bharat Health Account (ABHA) ID generation, and services related to the
screening and management of non-communicable diseases, tuberculosis (TB), and Sickle Cell Disease.
ii.It operates through collaborative efforts led by Gram Panchayats (GPs) in partnership with the Department of
Health, various government departments, and local elected bodies in both rural and urban areas.
iii.This initiative ensures the reach of healthcare access to every corner of India.
Components of Ayushman Bhav:
• Apke Dwar 3.0.
• Ayushman Melas at Health and Wellness Centres (HWC) Community Health Clinics (CHC).
• Ayushman Sabhas.
i.By embracing these components, Ayushman Bhav is set to expedite healthcare access at the grassroots,
contributing to the realization of a healthier nation.
ii.Under Ayushman Bhav, Health Melas and Medical Camps are an important component that will be set up
once a week at all HWCs and CHCs.
President Droupadi Murmu Inaugurates ‘First Global Symposium on Farmers’ Rights’ in New Delhi
On 12th September 2023, President Droupadi Murmu inaugurated the First Global Symposium on Farmers’
Rights (GSFR) in an event held at the Indian Council of Agricultural Research (ICAR) Convention Centre,
National Agricultural Science Centre in New Delhi, Delhi
Organisers and Hosts:
i.The Symposium was organised by the Secretariat of the International Treaty on Plant Genetic Resources for
Food and Agriculture (International Treaty) of the Food and Agriculture Organization (FAO), Rome.
ii.It was hosted by the Ministry of Agriculture and Farmers Welfare (MoA&FW) in collaboration with the
Protection of Plant Varieties and Farmers’ Rights (PPVFR) Authority; ICAR, ICAR-Indian Agricultural Research
Institute (IARI), and ICAR-National Bureau of Plant Genetic Resources (NBPGR).
India’s Agro-biodiversity:
i.The president described India, as a mega-diverse country, despite occupying only 2.4% of the world’s land
area, but accounts for 7-8% of all recorded species of plants and animals.
ii.In terms of biodiversity, India ranks as one of the nations supplied with the widest range of plants and
species, and India’s rich agro-biodiversity isn’t just a national asset; it’s a global treasure.

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iii.Over the years, Indian farmers have dedicatedly conserved local plant varieties, domesticated wild species,
and nurtured traditional crops.
iv.This wealth of biodiversity serves as the foundation for global crop breeding programs, ensuring food and
nutritional security for both humans and animals.
India’s transformation in agriculture to other sectors:
i.Since 1950-51, India has witnessed remarkable growth in the production of various agricultural commodities,
and agricultural research and technology have played a pivotal role in this transformation.
ii.These advancements have not been limited to food grains alone but have also impacted horticulture,
fisheries, dairy, and poultry sectors, ensuring a well-rounded approach to food security.
Recent Related News:
President of India, Droupadi Murmu, paid a visit to Suriname and Serbia from 4th to 9th June 2023. She visited
Paramaribo, Suriname, at the invitation of Chandrikapersad Santokhi, President of the Republic of Suriname,
and Serbia at the invitation of Aleksandar Vučić, President of Serbia.
About Ministry of Agriculture and Farmers Welfare(MoA&FW):
Union Minister– Narendra Singh Tomar (Constituency- Morena, Madhya Pradesh)
Ministers of State(MoS)– Sushri Shobha Karandlaje; Kailash Choudhary

Highlights of Saudi Arabia’s PM HRH Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud visit
to India
From September 9-11, 2023, the His Royal Highness (HRH) Prince Mohammed bin Salman bin Abdulaziz Al
Saud, Crown Prince and Prime Minister (PM) of the Kingdom of Saudi Arabia, paid a State visit to India on the
invitation of Prime Minister (PM) of India Narendra Modi. This marks the Prince’s 2nd State visit to India, His
Royal Highness earlier visited India on a State Visit in February 2019.

• The overarching context of his visit was to strengthen bilateral relations and strategic partnership
between India and Saudi Arabia.
• Official talks were held between HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, and PM
Narendra Modi to enhance India-Saudi strategic relations and discussed current global and regional
matters.
Points to note:
i.During his visit, he attended the Group of 20 (G20) Summit hosted by India on 9-10th September 2023 and
continued his stay on 11th September 2023 for the State Visit.
ii.He was accompanied by a high level delegation comprising of almost 14 members and 8 ministers.
1st meeting of the India – Saudi Strategic Partnership Council (SPC)
The Crown Prince and the PM of India co-chaired the first meeting of the India – Saudi Strategic Partnership
Council (SPC) which was set up with the signing of an Agreement by both leaders during the PM Narendra
Modi state visit to Riyadh, Saudi Arabia in October 2019.
i.This SPC made India the fourth country with which Saudi Arabia formed such a partnership, after the United
Kingdom (UK), France, and China.
ii.They reviewed the work done under the framework of SPC including its two Ministerial Committees namely:

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 • Committee on Political, Security, Social and Cultural Cooperation
• Committee on Economy and Investments
About the Ministerial Committees :
i.These two committees have four levels of engagement,
including Summit-Level Meetings, Ministerial-Level
Discussions, Senior Officials’ Meetings, and Joint Working
Groups (JWGs).
ii.Four JWGs have been formed under each sub-committee.
• The JWGs under the Political committee are
Political & Consular; Legal & Security; Social &
Cultural; and Joint Committee on Defence
Cooperation.
• The JWGs under the Economic committee are
Agriculture & Food Security; Energy; Technology &
Information Technology; and Industry and
Infrastructure.
Key Outcomes of Meeting:
i.India and Saudi Arabia agreed to expedite the USD 50-billion
West Coast refinery project and identified areas such as energy, defence, semiconductor, and space for
intensified cooperation.
• West Coast Refinery Project aims to set up Asia’s largest refinery in Ratnagiri, Maharashtra. It is a
trilateral project between ARAMCO (Saudi), ADNOC (UAE) and Indian companies.
ii.They agreed to diversify the current status of their hydrocarbons relationship into a comprehensive energy
partnership.
iii.Both sides inked eight pacts to boost cooperation in a range of areas.
Signing of 8 Memorandums of Understanding (MoU):
i.MoU in the field of Energy between MNRE and Ministry of Energy of Saudi Arabia
The Indian Ministry of New and Renewable Energy (MNRE) and the Saudi Ministry of Energy have signed a
MoU to strengthen their energy partnership, supporting India’s transition to sustainable energy and global
climate change mitigation efforts.
Signatories:
Union Minister Raj Kumar Singh, MNRE; and HRH Abdulaziz bin Salman Al-Saud, Minister of Energy for the
Kingdom of Saudi Arabia.
What will be done the MoU?
India and Saudi Arabia will cooperate in the following areas:
i.Renewable Energy, Energy Efficiency, Hydrogen, Electricity, and Grid Interconnection.
ii.Petroleum, Natural Gas, Strategic Petroleum Reserves, and Energy Security.
iii.Bilateral investment in Renewable Energy, Electricity, Hydrogen, Storage, and Oil & Gas.
iv.Circular Economy and climate change mitigation technologies like carbon capture, utilization, and storage.
v.Promoting digital transformation, innovation, cyber-security, and artificial intelligence in the energy sector.
vi.Localizing materials, products, and services across energy sectors and supply chains.
vii.Strengthening cooperation with specialized energy companies.
viii.Exploring other mutually agreed-upon energy-related fields.
ii.MoU for Cooperation in the Technical Field & Establishment of SME Bank between SIDBI and SME
Bank of Saudi Arabia
A MoU was inked between Small Industries Development Bank of India (SIDBI), and Small and Medium
Enterprises (SME) Bank of Saudi Arabia for cooperation in the technical field and the establishment of the SME
Bank.

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 • The signing ceremony took place on the sidelines of India-Saudi Arabia Investment Forum 2023 in
New Delhi, Delhi which was organized by Department for Promotion of Industry and Internal Trade
(DPIIT), Ministry of Commerce and Industry of India and the Saudi Ministry of Investment.
• The signing was attended by SMEB Acting CEO (Chief Executive Officer) Abdulrahman bin
Mohammed bin Mansour and SIDBI Deputy Managing Director Sudatta Mandal.
What will be done under the agreement?
Under the agreement, they will share knowledge about SME lending practices and collaborate on training
programs for employees to improve operations and awareness.
iii.Memorandum of Cooperation (MOC) between Ministry of Communication and Information Technology
(MCIT) of Saudi Arabia and Ministry of Electronics and Information Technology (MeitY) of India in the field of
Digitization and Electronic manufacturing
iv.MOU between Central Vigilance Commission (CVC) of India and Oversight and Anti Corruption Authority,
Saudi Arabia
v.MOC between National Archives of India(NAI) and King Abdulaziz Foundation of Saudi Arabia in the area of
archival cooperation
vi.Framework of Cooperation on Enhancing Bilateral Investment between Invest India and Ministry of
Investment of Saudi Arabia
vii.MoU between Saudi EXIM Bank and Export-Import Bank of India (Exim Bank) of India
viii.MoU on Seawater Desalination between National Institute of Ocean Technology (NIOT) of India and Saline
Water Conversion Corporation (SWCC) of Saudi Arabia
Other Highlights:
i.Both sides agreed to organize the next meeting of SPC within next two years as stipulated in the Agreement
for SPC.
ii.Both sides will explore cooperation in promoting sustainable hydrocarbon use, energy efficiency, and raising
awareness in construction, industry, and transportation.
• They also agreed to promote tourism, enhance cooperation and partnership in sports programs and
activities.
• They also agreed to expand trade and security-ties.
iii.The India-Saudi Arabia Investment Forum 2023 is the first formal investment symposium between India
and Saudi Arabia. It was co-chaired by Union Minister Piyush Goyal, Ministry of Commerce, and Khalid A. Al
Falih, Minister of Investment, Kingdom of Saudi Arabia.
iv.45 Memorandum of Understanding (MoUs) were concluded between India and Saudi Arabia, in G2B
(Government to Business) and B2B (Business to Business) formats.
• These MoUs are expected to further deepen the economic engagement between the two sides.
Recent Related News:
i.Sri Lankan President Ranil Wickremesinghe made an official two-day visit to India from 20- 21st July 2023.
ii.On 27th – 28th July 2023, Prime Minister(PM) of India, Narendra Modi was on a two day visit to Rajasthan
and Gujarat to inaugurate and launch various new initiatives and events.
About Saudi Arabia:
Capital– Riyadh
Currency– Saudi Riyal

Union Minister Dharmendra Pradhan launched Skill India Digital Platform

Union Minister Dharmendra Pradhan, Ministry Skill Development and Entrepreneurship(MSDE) has launched
the Skill India Digital (SID) platform.
• SID is India’s Digital Public Infrastructure (DPI) for skilling, education, employment, and
entrepreneurship.
• The digital platform includes both a website and a mobile Application that was developed by the
National Skill Development Corporation(NSDC). It is available in multiple Indian languages.

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About the Skill India Digital platform:
i.Skill India digital platform offers a variety of industry-specific skill courses, career opportunities, and support
for aspiring entrepreneurs.
• It includes listings for courses from Google, Microsoft, Cisco, and the Skill Council for Green
Jobs(SCGJ).
• Presently, more than 264 skilling courses from 42,623 centers across India will be available on the
platform.
ii.The platforms serve as the link between job-seekers and employers, enabling educational institutions to
develop courses to industry demands.
• The platform will accelerate skilled talent hiring, facilitating lifelong learning and career
advancement.
iii.The platform aligns with the vision outlined in the G20 framework for developing DPI and the digital
economy in order to promote digital skills and literacy.
iv.The app will be linked with DigiLocker and Aadhaar to issue verifiable certificates of course completion and
to generate digitally signed Curriculum Vitae (CVs) for job applicants and people taking courses.
• It also provides Digital CVs of jobseekers through personalized QR Codes.
• SID is linked to the Udyam portal for the registration of micro, small and medium enterprises.
• It also linked with the eShram portal which was created to build a National Database of
Unorganized Workers and the National Career Service which was a five-year project launched by the
Government in 2015 for job-seekers.
• It is also linked with the Aatmanirbhar Skilled Employee Employer Mapping (ASEEM) portal.
Additional info:
During the launching event, several memorandum of understanding (MOUs) were exchanged with
organizations to advance digital skilling, foster industry participation, and enhance learner engagement,
including All India Council for Technical Education (AICTE), Central Board of Secondary Education
(CBSE),National Institute of Electronics and Information Technology (NIELIT), Infosys, Microsoft, Amazon Web
Services (AWS), RedHat, Wadhwani Foundation, United Nations Children’s Fund (UNICEF), Future Skills Prime,
SAP, Tech Mahindra Foundation.

MCA Extends Tenure of Company Law Committee by 1 Year

The Ministry of Corporate Affairs(MCA) has extended the tenure of the Company Law Committee by 1 year,
until September 16, 2024.
Company Law Committee:
i.The Company Law Committee was set up in 2019 with a tenure of one year(2020), and its tenure was
successively extended year after year.

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ii.The committee has been tasked with examining and recommending the government on different matters
concerning the implementation of the Companies Act, 2013, and the Limited Liability Partnership (LLP)Act,
2008.

objectives:
• To promote the Ease of Living in the country by providing ease of doing business to law-abiding
corporates.
• To Promote improved corporate compliance for all stakeholders.
• To address emerging issues having an impact on the working of companies in India.
Committee Members:
At Present, the Company Law Committee consists of 11-members under the chairmanship of the Dr Manoj
Govil, Secretary, MCA.
Additional Info:
The Company Law Committee recently released its third report in March 2022. They had
recommended various changes to the Companies Act, 2013 to recognise new concepts, expedite corporate
processes, improve compliance requirements, and remove ambiguities from existing provisions
About Ministry of Corporate Affairs:
Union Minister – Nirmala Sitharaman (RajyaSabha Karnataka)
Minister of State (MoS) – Rao Inderjit Singh (Lok Sabha Constituency – Gurugram, Haryana)

MHA Cancels FCRA Licence of Bal Raksha Bharat & 2 other NGOs
Ministry of Home Affairs(MHA) has cancelled the Foreign Contribution Regulation Act (FCRA) licence of Bal
Raksha Bharat, Srinivas Malliah Memorial Theatre Crafts Museum and SELF EMPLOYED WOMEN’S
ASSOCIATION (SEWA).
• The licences were cancelled ahead of the deadline (30th September 2023) for FCRA licences
renewable for Non-Governmental Organisations(NGOs).
i.Bal Raksha Bharat is the India unit of the United Kingdom(UK) Based NGO “Save The Children” which
operates in around 16 states across India.
• The audited report of the NGO revealed that it has received Rs 163 crore in its bank accounts and Rs
66.66 lakh worth of in-kind contributions for year 2021-2022.
ii.Srinivas Malliah Memorial Theatre Crafts Museum was established in memory of freedom fighter Ullal
Srinivas Malliah to provide training in traditional handicrafts like puppet making, mask making, paper figures,
bamboo crafts and others.
Points to note: MHA grants FCRA licences to NGOs for 5 years and evaluates based on annual returns and
foreign grants received for their intended purposes. Misuse or diversion of foreign funds by NGOs is a violation
of the FCRA Act.

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 INTERNATIONAL AFFAIRS
India Becomes 13th Country to Issue OIML Certificate
India has been recognised as an authority to issue internationally accepted OIML(International Organization
of Legal Metrology) pattern approval certificates for selling weights & measures anywhere in the world.
With this India becomes the 13th country in the world that can issue OIML certificates.
• Department of Consumer Affairs under the Ministry of Consumer Affairs will now issue the OIML
certificates.
• OIML Pattern Approval certificate is mandatory to sell a weight or measure in the International
market.
Other countries that can issue OIML Certificates are Australia, Switzerland, China, Czech Republic, Germany,
Denmark, France, United Kingdom(UK), Japan, Netherlands, Sweden and Slovakia.
About International Organization of Legal Metrology (OIML
French: Organisation Internationale de Métrologie Légale):
OIML is an international standard-setting body.
Established in 1955.
Headquarters– Paris, France
Members: 63 Member States & 64 Corresponding Members (India has been a member of the OIML since 1956)

BANKING & FINANCE

Yes Bank Partners with Juspay to Launch HyperUPI, NPCI’s UPI-based Plug-in Service
Yes Bank Limited(YES Bank) partnered with Juspay Technologies Private Limited (Juspay), India’s leading
payments company, to launch HyperUPI, a plug-in Software Development Toolkit (SDK) developed by the
National Payments Corporation of India (NPCI) that empowers in-app Unified Payments Interface (UPI)
payments for merchant apps.

• With this, the merchants can now offer customers a hassle-free one-click UPI experience. This will
also allow customers to undertake UPI-based transactions within the merchant app.
• This plug-in SDK is built on one of the most reliable UPI-on-cloud stacks in India, which also
supports UPI payments for several consumer and merchant apps.
Simplified Payment Experience:
i.The UPI plug-in SDK simplifies and streamlines the payment experience and leads to a remarkable four-fold
improvement in transaction speed and a success rate of over 90%.
ii.HyperUPI aims to empower businesses to seamlessly integrate UPI into their apps, providing customers with
an unparalleled payment experience

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Features:
i.HyperUPI differs from the standard UPI as it integrates
directly into merchant apps, allowing for a more
streamlined payment process with features like
Mandates (recurring payments) and Third-party
Validation (TPV), etc.
ii.It also provides merchants with a no-code platform,
enabling them to design a user interface that integrates
seamlessly with their app’s theme and branding.
iii.This service can be easily incorporated into the
merchant’s apps across various technical frameworks
such as React-Native, Flutter, and Cordova, etc.
Key Points:
i.In addition, Yes Bank has utilised this plug-in SDK
infrastructure to develop the Payment Service Provider
(PSP) app ‘YES PAY NEXT‘, which offers comprehensive
UPI services, including person-to-person payments and
pull payments, seamlessly.
ii.With HyperUPI Plug-in SDK, customers can complete their UPI payment in less than 5 seconds.
iii.Juspay became the first fintech startup to build the UPI PSP on the cloud, which has recorded an uptime of
99.99+% and the highest Transaction per Second (TPS) Rate of Rs. 5000.
Gullak Partners with Juspay; Becomes 1st in India to Implement UPI Plugin SDK
• Gullak, a leading fintech app, has become the first merchant to deploy Juspay’s UPI plugin SDK,
HyperUPI.
• NPCI is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA)
under the provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment
& Settlement Infrastructure in India.
Yes Bank & BriskPe Partnered to Enable Cross-border Payments for MSMEs by BriskPe A2A Solution
GoBrisk Technologies Pvt Ltd. (BriskPe), a Mumbai (Maharashtra) based payments fintech company, and Yes
Bank partnered to introduce BriskPe Account-to-Account (A2A), a cutting-edge suite of solutions designed to
empower exporters and importers.
• This collaboration represents a significant milestone in the world of cross-border payments,
benefiting Micro, Small, and Medium Enterprises (MSMEs) operating in the manufacturing and
services sectors.
Note: BriskPe extends its reach beyond borders, by the establishment of its subsidiary, BriskPe Technologies
Inc., situated in Vancouver, British Columbia, Canada.
Cross Border A2A:
i.This strategic partnership enables BriskPe’s customers to collect payments in over 36 foreign currencies,
spanning more than 180 countries.
ii.The funds can then be converted into Indian Rupees (INR) and settled directly into their local bank accounts
in India within a single business day.
About the Partnership:
i.Based on Yes Bank’s Online Payment Gateway Service Providers (OPGSP) Export Application program
interfaces (APIs), the product is set to reshape the international trade landscape with features like real-time
transaction processing and instant Electronic Foreign Inward Remittance Advice (eFIRA) generation.
ii.Under this partnership, Yes Bank aims to contribute and strongly align with the government of India’s vision
of boosting the MSME sector and transforming India into a Global export powerhouse.
iii.The mission of BriskPe aims to empower Indian MSMEs, enabling them to not only compete but also develop
on the global stage.

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iv.The partnership will bring together BriskPe’s expertise and YES BANK’s advanced digital banking
capabilities.
v.This partnership signifies a new era in cross-border payments, providing a seamless and efficient platform for
Indian exporters to navigate the complexities of international trade and bolster their global competitiveness.
• Their focus is on providing cost-effective, top-tier payment solutions tailored to the needs of Indian
businesses involved in international trade.
Recent Related News:
In May 2023, Cashfree Payments partnered with Yes Bank to offer ‘Global Collections’, an international
collection service for Indian exporters with a Yes Bank account, to simplify the way Indian exporters receive
payments from across the world.
About Yes Bank Limited:
Managing Director & Chief Executive Officer– Prashant Kumar
Headquarters– Mumbai, Maharashtra
Established in– 2004

NPCI Launches India’s First Contactless Payment Wearable “OTG Ring”

National Payment Corporation of India(NPCI) has launched a RuPay ON-THE-GO(OTG)ring named as 7
Ring, the first contactless payment wearable ring which was made in India.

• The ring was unveiled in Global Fintech Fest, 2023 (GFF 2023) which was held during 5th to 7th
September 2023 in Mumbai, Maharashtra.
• 7 Ring is designed, assembled, manufactured and patented in India.
• The ring was made in collaboration with 7 (Sevenring Innovations Private Limited)
and LivQuik Technology(India) Private Limited.
Eligibility:
Any Indian resident above 18 years of age with an active Unified Payments Interface (UPI) address can buy the
ring (provided they satisfy any one of the invite-only criteria).
About 7 Ring:
i.7 Ring is a sleek, wearable ring that is made from a very strong and scratch-resistant material called zirconia
ceramic(ZrO2) which is also used in aerospace applications
ii.The ring is Restriction of Hazardous Substances Directive (RoHS) compliant, as neither its body nor any of its
electronic components contain any hazardous substances.
iii. The National Common Mobility Card (NCMC) customers can use the ‘OTG Ring’ for the transactions.
Working:
i.The ring allows to make payment by just placing the fist on a Point of Sale (POS) device
ii.7 Ring links to a digital prepaid wallet not linked to a Bank Account
• The wallet can be topped-up and payments can be made from it.
iii.The device also provides a comprehensive Passbook feature to keep track of the transactions.
iv.7 Ring only works when it is placed parallelly within 4 cm range of a contactless reader.

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Features:
i.7 Ring doesn’t require a smartphone application or an One-time password(OTP) / PIN for making payments
below Rs 5,000 in India.
• Also the ring doesn’t require pairing with a smartphone, instead it is linked to a digital prepaid
wallet in the cloud.
ii.7 Ring is a passive wearable that draws power from the POS machine, so has no battery
iii.7 Ring works on Near Field Communication (NFC) technology, is EMVco certified, and contains the same
security standards which are used in payment instruments worldwide by all leading networks.
Transaction Criteria:
There are two limit criteria based on Know Your Customer (KYC).
i.Monthly transaction limit of Rs 10,000 – registered as a Minimum KYC(During ring activation)
ii.Monthly transaction limit of Rs 2 Lakhs – Full KYC

IndusInd Bank launched ‘Virtual Commercial Credit Card’ in Collaboration with Visa
and Juspay
IndusInd Bank in partnership with Visa and Juspay launched a “virtual commercial card” with additional
layers of security to give the cardholders a complete control over cross-border transactions for corporates and
travel agents. The card is built on the Visa Payables Automation platform.

• The card benefits the customers who make multiple bookings in different foreign-denominated
currencies.
• The card offers a high degree of control, reduced complexity and complete transparency.
Features of the card:
i.The cardholders can generate virtual cards and customise its credentials such as Card Number, Card
Verification Value (CVV) code and expiry dates.
• The card can also be customised with transaction-specific limits.
• This feature makes the parent card out of the process, so that it will be safe.
ii.The card complies with tokenisation-cum-Additional Factor of Authentication (AFA) regulation &
follows Maker and Checker workflow.
iii.The card allows for multiple user access.
iv.This card recognises the evolving needs of customers by redefining domestic and cross-border
transactions of the customers.
Additional Info:
Tokenisation-cum-AFA regulation: Tokenization is a backend process of replacing Credit/ Debit/ Prepaid
Card details with a unique set of characters or a ‘token’.
• AFA is a security measure that requires customers to provide more than one piece of evidence to
verify their identity. Examples: One-time passwords (OTPs), Security questions and Biometric
authentication.

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About IndusInd Bank Limited(Ltd):
Managing Director(MD) & Chief Executive Officer(CEO) – Sumant Kathpalia
Headquarters – Mumbai, Maharashtra
Established in – 1994
Tagline – We Make You Feel Richer
About Visa:
Chief Executive Officer(CEO) – Ryan McInerney
Headquarters- California, United States of America(USA)
Established – 1976
About Juspay:
Founder – Vimal Kumar
Headquarters – Bangalore, Karnataka
Established in – 2012

ECONOMY & BUSINESS

Fitch Retains India’s Growth Forecast at 6.3% for FY24: Global Economic Outlook Sept 2023
Fitch Ratings in its special report titled Global Economic Outlook – September 2023 retained India’s Gross
Domestic Product(GDP)’s growth forecast for the current fiscal year(FY 2023-24) at 6.3% and projected
growth rate of 6.5% for FY 2024-2025.

• Earlier in June 2023, the rating agency had revised its forecast to 6.3% from the 6%.
• Inspite of tight monetary policy and poor export, the economy is striving to grow.
Quarterly analysis:
The Indian economy grew at 7.8% in the first quarter(Q1 – April to June) in FY 2023-24.
• According to the report, the high-frequency indicators suggest that the growth in July-September
will be moderate due to low exports and credit growth.
RBI’ consumer confidence survey (CCS):
i.Reserve Bank of India(RBI) in its bi-monthly consumer confidence survey (CCS) (July 2023) pointed out that
consumers are becoming a little more pessimistic on income and employment prospects.
ii.Fitch expects that the RBI’s benchmark interest rate will stay at 6.5% for 2023.
Impact of Inflation:
i.The global economy is slowing down, and India will be affected by this. The RBI has raised interest rates (by
250 Basis Point)to control inflation.
• Though the increase in inflation is temporary, (particularly rise in food price), this will reduce the
purchasing power of the household.
ii.Annual headline inflation was 6.8% in August after 7.4% in July and 4.9% in June.

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Additional info:
The threat of El Niño makes the inflation exceed the forecasts.
Fitch expects 2023-end retail or CPI inflation at 5.5%, higher than our previous forecast of 5%.

APPOINTMENTS & RESIGNATIONS

Mastercard India Appoints Former SBI Chief Rajnish Kumar as Non-Executive Chairman
Rajnish Kumar, former chairman of the State Bank of India(SBI) has been appointed as the Non-Executive
Chairman of Mastercard India.

• Rajnish Kumar will guide Mastercard’s South Asia executive leadership team, led by Gautam
Aggarwal, Division President for South Asia and Country Corporate Officer, India.
• He is currently serving as the chairman of payments startup BharatPe.
About Rajnish Kumar:
i.Rajnish Kumar served as the chairman of SBI from 2017 to 2020.
• He is also widely credited for spearheading the SBI YONO platform.
• He served at SBI and its subsidiaries across India, the United Kingdom and Canada in various
leadership roles.
ii.He serves on the boards of various organisations and corporations, including HSBC Asia Pacific, Larsen &
Toubro(L&T), and Brookfield Property Management.
iii.He also served as Director on the boards of various organizations including Export- Import Bank of
India(EXIM), Institute of Banking Personnel Selection(IBPS), National Institute of Bank Management, Pune,
Indian Banks’ Association, Khadi & Village Industries Commission, Indian Institute of Banking & Finance.
iv.Book – Rajnish Kumar Authored a book ‘The Custodian of Trust: A Banker’s Memoir’ published by
Penguin Viking in 2021.
About Master Card:
Mastercard is a payment and technology company, which deals with clearing, authorization, and settlement of
payment transactions.
Chief Executive Officer(CEO) – Michael Miebach
Headquarters – New York, United States of America(USA)
Established – 1966

OBITUARY
Moldova’s 1st President Mircea Snegur Passed Away
Mircea Snegur who served as the first President of the independent Moldova has passed away. He was born on
17th January 1940 in the village of Trifanesti, in Florești District, Moldova.

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 • He became the President of the Moldovan Soviet Socialist Republic in 1990 following the approval
from the Moldovan Supreme Council.
• He led the Republic of Moldova to its proclamation of independence on 27 August 1991.
• Following the independence, in 1992, Snegur and then Russian President Boris Yeltsin signed an
agreement to stop a conflict over Moldova’s breakaway Transdniester (Transnistria) region.
About Moldova:
President– Maia Sandu
Capital– Chişinău
Currency– Moldovan Leu

IMPORTANT DAYS
International Day of Democracy 2023- September 15
The United Nations (UN) International Day of Democracy is annually observed across the globe on 15th
September to highlight the significance of democracy and to create awareness among the people about
democratic rights.

The day also offers a platform to review the the state of democracy in the world.
The theme of International Day of Democracy 2023 observed on 15th September 2023 is “Empowering the
next generation.”
The 2023 theme focus on the role of the children and young people in advancing democracy and
ensuring that their voices are included in the decisions that have a profound impact on their world.
Background:
i.On 8th November 2007, the United Nations General Assembly (UNGA) adopted a resolution A/RES/62/7 and
proclaimed the 15th September of every year as the International Day of Democracy.
ii.The first International Day of Democracy was observed on 15 September 2008.
Why September 15?
i.On 15th September 1997, the Inter-Parliamentary Union (IPU), an international organisation of National
parliaments, adopted the Universal Declaration on Democracy.
ii.This declaration outlined the fundamental principles of democracy, emphasising values such as participation,
transparency, and accountability.
iii.The IPU suggested that the occasion be celebrated on September 15 to commemorate the adoption of the
Universal Declaration on Democracy.
Significance:
i.The word democracy comes from two Greek words: demos, which means “the people”, and kratein, which
means “to rule”.
ii.Democracy is a universally recognized ideal and is one of the core values and principles of the UN. Democracy
provides an environment for the protection and effective realization of human rights.

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 According to Article 19 of the Universal Declaration of Human Rights, Freedom of expression is a
fundamental human right.
iii.UN activities in support of democracy are carried out through the United Nations Development Programme
(UNDP), the United Nations Democracy Fund (UNDEF), the Department of Peace Operations (DPO), and the
Department of Political and Peacebuilding Affairs (DPPA), among others.
The UNDEF finances projects that empower civil society, promote human rights and encourage the
participation of all groups in democratic processes.
Democracy and Young Generations:
i.Promoting an engaged and well-educated electorate is the
cornerstone of robust democratic societies.
ii.Ensuring that young people not only understand the
democratic process but also believe that their voices truly
matter is of greatest importance.
iii.Young individuals are faced with navigating a complex
landscape where democracies confront various threats.
These challenges include:
Online Mis- and Disinformation
Rising Populism
Climate Crisis
iv.Addressing the challenges they face and promoting their
participation can create a more resilient and inclusive
democratic society for generations to come.
Note:
The World Bank has projected that: by the time today’s teenage climate activists reach their late 20s,
climate change could force an additional 100 million people into the depths of extreme poverty.
According to the International Food Policy Research Institute, climate change could lead to an extra 20%
rise in malnourished children by 2050.
2023 Events:
i.The 2023 International Democracy Day was commemorated with a live event at the Sponsored Sustainable
Development Goals (SDG) Pavilion, North Lawn at UN Headquarters in New York, the United States of America
(USA).
The event, organized by the UNDEF under the umbrella of the UN Office for Partnerships, serves as a
platform to unite civil society representatives, UN officials, and climate activists.
ii.An event ‘Inclusive Democracy for Sustainable Development‘, was organized on 15th September 2023, to
deepen the understanding between inclusive democracy, the 2030 Agenda for Sustainable Development, and
the forthcoming SDG Summit.
The event was organized by the intergovernmental organization International Institute for Democracy
and Electoral Assistance (International IDEA) in partnership with the Global Democracy Coalition
and the Permanent Mission of Costa Rica to the UN.
About Inter-Parliamentary Union (IPU):
President and Head of Executive Committee– Duarte Pacheco
Headquarters– Geneva, Switzerland
Established in– 1889

National Engineer’s Day 2023- September 15

National Engineer’s Day is annually observed across India on 15th September to commemorate the birth
anniversary of Bharat Ratna Sir Mokshagundam Visvesvaraya (15 September 1861), who is considered as
one of the greatest Engineers in India.

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 This day also honours engineers for their vital role in shaping society and recognizes the contributions
made by engineers to India’s development through innovation and technology.
The theme of National Engineer’s Day 2023 observed on 15th September 2023 is, ‘Engineering for a
Sustainable Future,’ which highlights engineers’ role in addressing global challenges.

Note: Apart from India, Sri Lanka, and Tanzania also celebrate Engineers’ Day on September 15, to honour Sir
Mokshagundam Visvesvaraya’s contribution to their respective countries.
Background:
i.In 1968, the Government of India (GoI) declared the birth anniversary of Mokshagundam Visvesvaraya, as
National Engineers’ Day.
ii.Since then, National Engineers’ Day has been celebrated in India on September 15th each year as a tribute to
his legacy and acknowledges the contributions made by engineers to India’s growth and development.
About Sir Mokshagundam Visvesvaraya:
i.Sir Mokshagundam Visvesvaraya was born on September 15, 1861, in Muddenahalli village in Karnataka, and
is widely regarded as a pioneer in the field of engineering in India.
He is also referred to as Sir MV and the ‘Father of Modern Mysore‘ for his major contributions to
society.
He was also called the “Precursor of economic planning in India”, according to the Institution of
Engineers India (IEI).
ii.From 1912 to 1918, he served as the 19th Diwan of Mysore(now Mysuru, Karnataka). He was the Chief
Engineer responsible for the construction of the Krishna Raja Sagara Dam in Mysore.
iii.He was appointed a Companion of the Order of the Indian Empire (CIE) in recognition of his achievements
and contribution to Indian society in 1911.
iv.He designed and patented automatic water floodgates in 1903, which were first installed at the Khadakwasla
reservoir, in Pune (Maharashtra).
Awards:
i.In 1955, the GoI honoured him with ‘Bharat Ratna‘ for his significant contributions in the field of engineering
and for his service to the nation.
ii.He was also knighted as a Knight Commander of the British Indian Empire (KCIE) by King George V, which
put the honourific ‘Sir’ before his name.
As a mark of respect, in the memory of Sir M V, the Federation of Karnataka Chambers of Commerce and
Industry (FKCCI) instituted an Annual Award in 1999 to recognize people who have made
outstanding contributions to the economic and social development of Karnataka.
Books:
Reconstructing India (1920); Planned Economy for India (1934); Memoirs of My Working Life (1951).
About Institution of Engineers India (IEI):
IEI was incorporated under the Royal Charter on 9th September 1935 by the then His Majesty King George V.
After Independence(1947), IEI became a “Body Corporate” protected under Article 372 of the Constitution of
India and is administered by a National Council.

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President– Er. Shivanand Roy
Headquarters– Kolkata, West Bengal
Established in– 1920

STATE NEWS
Haryana CM Launched New e-Bhoomi Portal for Land Purchase
Manohar Lal Khattar, Haryana Chief Minister (CM) launched a new e-Bhoomi portal to further ease the
process of purchasing land for the development of government projects.

The government aims to purchase land in a transparent manner with the consent of the landowners.
The CM also inaugurated Mukhyamantri Shehri Awas Yojana Portal and No-Litigation Policy-2023
portal.
He also launched the HMJIS portal to replace the already launched e-Ravana portal to stop illegal
mining in Haryana.
About e-Bhoomi Portal:
i.Apart from farmers, aggregators will also be able to offer land on this portal.
Farmers can offer their land independently or through listed aggregators. The aggregator must be an
income taxpayer and must have a Parivar Pehchan Patra (PPP) family ID.
ii.The offer of land on the new portal would be valid for 6 months.
iii.A minimum offer of 10 acres has been made mandatory for voluntary offers made by aggregators.
iv.In case of purchase of land for projects, the aggregators would be given incentives at the rate of 1%.
Processing:
i.Under the process, once anyone (individual or aggregator) uploads the offer on the portal, it will be informed
to the designated agency, which will inform the concerned government department for the proposed project,
ii.The process will be initiated in automatic mode considering the rates being offered by the individual or
aggregator.
iii.To facilitate and coordinate the entire process, nodal officers have been identified in each department and at
the district level.
iv.The entire process will be expected to be completed within a time frame of 3 to 6 months.
Benefits: This process will bring transparency as well as reduce complaints of delay in payment by land
owners and aggregators.
Property Rates:
i.When property rates fall within the collector rate range, the Administrative Secretary of the department
swiftly approves them. This step involves a feasibility examination.
ii.If proposed rates exceed collector rates, they undergo further consideration. The proposal is presented to the
Committee of Secretaries, presided over by the Chief Secretary.
iii.In cases where rates exceed 50% of the collector rates, the proposal escalates to the High Powered Land
Purchase Committee (HPLPC), led by the CM.

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Mukhyamantri Shehri Awas Yojana Portal:
i.The CM also unveiled the “Mukhyamantri Shehri Awas Yojana Portal,” designed to provide housing for
economically weaker sections, with an annual income of less than Rs. 1.80 lakh, who are in need of housing.
ii.This scheme will offer flats in Panchkula, Gurugram, Sonipat, and Faridabad, with other cities offering both
plot and flat options.
iii.The scheme would be implemented by the ‘Haryana Shehri Vikas Pradhikaran‘, ensuring the provision of
essential amenities in the housing colonies.
No-Litigation Policy-2023 portal:
i.In a step towards resolving land acquisition issues of the year 2011 for the expansion of the Industrial Model
Township (IMT) Manesar (Haryana), the CM inaugurated the ‘No-Litigation Policy-2023 portal’.
ii.The policy is set to address land-related issues in the villages of Kasan, Kukrola, and Sahrawan, situated in the
Manesar Tehsil of Gurugram district of Haryana.
iii.This policy aims to provide much-needed relief and extend benefits to landowners whose names are
currently recorded in the revenue estate of these villages, as of the awards declared in awards no. 1, 2, and 3 on
August 16, 2022.
iv.The key provision of the policy stipulated that landowners, upon accepting compensation in accordance with
the awards announced, would refrain from challenging the land acquisition.
They are also required to withdraw any pending court cases related to this land.
Issuance of OBC Certificates:
i.The Haryana Government also introduced the issuance of Other Backward Classes (OBC) certificates through
the PPP family ID system.
ii.Citizens can download their OBC certificates online by accessing the Citizen Saral Portal. If their eligibility is
confirmed based on the data available in the OBC category within the PPP, the certificates can be obtained.
Currently, 397 schemes and services are linked to the PPP.
Recent Related News:
On 21st July 2023, the Ministry of Agriculture and Farmers Welfare (MoA & FW) launched 3
technological initiatives under the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather
Based Crop Insurance Scheme (RWBCIS) to empower farmers and streamline their operations in New Delhi,
Delhi.
About Haryana:
Chief Minister– Manohar Lal Khattar
Governor– Bandaru Dattatreya
Wildlife Sanctuary– Chhilchhila Wildlife Sanctuary and Nahar Wildlife Sanctuary

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Affairscloud: As some of the major news sites doesn't provide the
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make sure every data is covered, we delay the topics to the next day

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