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 AFFAIRSCLOUD TODAY
Current Affairs 2 August 2023 : Headlines

❖ TRAI and C-DoT Sign MoU to Establish Mechanism of Technical and Institutional Cooperation in
Telecommunications
❖ Overview of SemiconIndia Conference 2023 held from 28th-30th July 2023 in Gujarat
❖ India & Moldova Agreed to Sign MoU for Cooperation in Agriculture
❖ Non-Food Bank Credit grew to 16.3% in June 2023, for Aviation its 93.4% Hike: RBI Data
❖ Paytm Launches 2 New Devices: Pocket Soundbox & Music Soundbox To Empower On-The-Go
Merchants
❖ Sebi asks MIIs to develop Common Online Dispute Resolution Portal
❖ Karnataka Bank Hosts Fintech Growth Program in Bengaluru
❖ Thuraiya Hamid Alhashmi Elected as BoD and Constituency Director of BRICS’ NDB
❖ LIC MF Completes Merger of IDBI MF Schemes
❖ England Bowler Stuart Broad Retires From all Forms of Cricket
❖ Vakkom Purushothaman, Congress Leader and Former Governor passed away
❖ Rishi Raj’s New Book “Kargil: Ek Yatri Ki Jubani”, a True Tribute to Martyrs of Kargil War
Released
❖ Aviation Security Culture Week 2023 – 31st July – 5th August
❖ World Breast Feeding Week 2023 – 1st to 7th August
❖ World Lung Cancer Day 2023 – August 1
❖ UNFPA & MP govt Launch ‘Just Ask!’ Chatbot for Adolescents & Young Adults on SRHR

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 NATIONAL AFFAIRS
TRAI and C-DoT Sign MoU to Establish Mechanism of Technical and Institutional Cooperation in
Telecommunications
On 25th July 2023, the Telecom Regulatory Authority of India (TRAI) and the Centre for Development of
Telematics (C-DoT) signed a memorandum of understanding (MoU) to establish the mechanism of technical
and institutional cooperation in telecommunications, at TRAI headquarters in New Delhi, Delhi.

• The MoU has been signed by Anil Kumar Bhardwaj, DG (TRAI CSR) and Rajeev Kumar, Registrar, C-
DoT.
Outcome of the MoU:
i.Through the MOU, TRAI Centre of Studies and Research (TRAI CSR) and C-DoT have collaborated to explore
the potential of emerging technologies.
ii.The MoU steps towards policy research, regulatory studies, and knowledge dissemination of upcoming
technologies in the telecom and broadcasting sectors.
iii.The partnership aims to promote cooperation for research on regulatory practices and bridge gaps in
understanding.
iv.The partnership will conduct technical sessions, seminars and conferences to share knowledge and for
capacity building and will help India achieve policy-driven innovation.
About TRAI CSR:
i.The TRAI CSR was established as an entity within TRAI to conceptualize, coordinate, and enable technological
studies in the telecom and broadcasting sectors.
ii.Its task is to enable technology-driven growth in India by combining the energies of different industries and
sectors.
C-DOT Signs Consortium Agreement with industry partners for ‘Collaborative Development of
Disaggregated 5G RAN Solution’
The Centre for Development of Telematics (C-DOT), the premier Telecom Research and Development (R&D)
Centre of the Department of Telecommunications (DoT), has signed a consortium agreement with leading
industry partners for ‘Collaborative Development of Disaggregated 5G Radio
Access Network (RAN) Solution’ to bolster India’s telecom R&D capabilities.
• The industry partners include Lekha Wireless Solutions Private Ltd, Signaltron Systems Private Ltd,
Sooktha Consulting Private Ltd, and Resonous Technologies Private Ltd.
• The collaboration aims to create an Open Radio Access Network (O-RAN)compliant disaggregated
5G RAN solution that can effectively operate in the FR1 and FR2 (Frequency Range) frequency
bands, catering to both public and private 5G networks.
Key points:
i.The consortium partners are companies engaged in the development of Radio communication products,
specialising in providing radio access network solutions for 5G, LTE (Long-Term Evolution), etc.

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ii.This agreement marks the second initiative under the ‘C-DOT Collaborative Research Program 2022 (CCRP-
2022)’, aimed at promoting innovation and fostering cost-effective indigenous telecom products and solutions.
Note: The maiden agreement under CCRP-2022 was signed with VVDN Technologies Private Ltd and WiSig
Networks Private Ltd to pursue the development of a 5G Open RAN.
C-DOT’s Role in the Partnership:
i.C-DOT will act as a business incubator and facilitator and provides funding and infrastructure support for
testing, interoperability assessment, field trials, and Proof of Concept (POC).
ii.This approach is envisioned to accelerate the availability of domestic 5G RAN products, offering a competitive
edge to the Indian telecommunications industry.
Recent Related News:-
On 7th February 2023, K Rajaraman, Chairman, Digital Communications Commission (DCC) & Secretary of the
Department of Telecommunications, Ministry of Communications (MOC), launched the ‘IEEE C-DOT Certified
Telecom Expert Program (ICCTEP)’ to bring learning in the areas of Telecom including 5G, Cyber Security and
Quantum Communication to bridge the skill gap. The first program launched on the platform is on 5G and
beyond.
About Centre for Development of Telematics (C-DOT):
Chief Executive Officer(CEO)- Rajkumar Upadhyay
Headquarters- New Delhi, Delhi
Established- 1984

Overview of SemiconIndia Conference 2023 held from 28th-30th July 2023 in Gujarat
On 28th July 2023, Prime Minister (PM) Narendra Modi inaugurated the 2nd Edition of the Annual Global
Summit, ‘SemiconIndia Conference 2023′ in Mahatma Mandir in Gandhinagar, Gujarat.

• SemiconIndia 2023, the 3-day program held from July 28 to 30, 2023, was organised by India
Semiconductor Mission in partnership with industry and industry associations.
• The event showcases the semiconductor strategy and policy of India which envisions making India a
global hub for semiconductor design, manufacturing, and technology development.
The theme of SemiconIndia 2023 is ‘Catalysing India’s Semiconductor Ecosystem’.
Aim:
• To make India a global hub for Semiconductor Design, Manufacturing, and Technology development,
which will help drive the vision of India Semiconductor Mission.
• To bring together global leaders from industry, academia, and research institutions.
Note: The inaugural ‘SemiconIndia 2022’ was held in Bengaluru, Karnataka from 29th April to 1st May 2022.

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Key People:
Bhupendra Patel, Chief Minister(CM) of Gujarat; Union Minister Ashwini Vaishnaw, Ministry of Electronics and
Information Technology (MeitY); Rajeev Chandrasekhar, Minister of State (MoS), MeitY; Anirudh Devgan, Chief
Executive Officer (CEO) of Cadence; Young Liu, Chairman of Foxconn; Anil Aggarwal, Chairman of Vedanta;
Sanjay Mehrotra, CEO of Micron; Mark Papaermaster, Chief Technology Officer (CTO) of Advanced Micro
Devices, Inc. (AMD); Prabhu Raja, President of Semiconductor Products Group Applied Materials (AMAT), were
present on the occasion.
Some plans of Major Companies in the Summit:
i.The conference witnessed the participation of representatives of major companies such as Micron
Technology, Applied Materials, Foxconn, Semiconductor Equipment and Materials International (SEMI),
Cadence, and AMD among others.
ii.Mark Papermaster, the Executive Vice President (EVP) and CTO of AMD announced the plan to invest UDS
400 million in India in the next 5 years to increase AMD’s Research & Development (R&D) capabilities.
iii.Sanjay Mehrotra, President and Chief Executive Officer (CEO) of Micron Technology, plans to set up a
semiconductor assembly and test facility for memory in Gujarat to create nearly 5,000 jobs and 15,000
additional jobs within the community.
India’s Growth in Various Sectors in a Decade:
i.India’s share in global electronic manufacturing has increased a lot, and currently it has crossed USD 100
billion, while in 2014 it was less than USD 30 billion.
ii.The export of electronics and mobile devices has doubled in the last 2 years.
iii.Currently, the number of mobile manufacturing units in India has gone beyond 200, compared to only 2
before 2014.
iv.The number of broadband users in India increased from Rs 6 crores to Rs 80 crores, while at present the
number of internet connections rose from Rs 25 crores to more than Rs 85 crores.
v.India’s solar power installed capacity has increased more than 20 times in the last decade, and a new target of
500 gigawatts (GW) of Renewable Energy (RE) capacity has been set to be achieved by the end of this decade.
Highlights:
i.The PM emphasised the Industry 4.0 revolution, a significant transformation in the manufacturing sector,
marked by the integration of digital technologies, such as the Internet of Things (IoT), artificial intelligence (AI),
big data analytics, and robotics, into manufacturing processes.
ii.He discussed the growth of a neo-middle class in India, which has become the powerhouse of Indian
aspirations.
iii.By understanding its global responsibilities, India is building a vibrant semiconductor ecosystem with the
approval of the National Quantum Mission (NQM) to develop intermediate-scale quantum computers with 50–
1000 physical qubits in 8 years on various platforms like superconducting and photonic technology.
iv.The National Research Foundation (NRF) Bill 2023 is going to be introduced in Parliament.
• NRF Bill 2023 seeks to replace the publicly funded mechanism of research support for the
scientific community through the Science and Engineering Board (SERB) Act, 2008.
v.In India, there are more than 300 colleges where courses on semiconductors will be available.
vi.The policy reforms taking place in India will have a positive impact on the construction of the semiconductor
ecosystem.
Tax Exemptions:
i.The PM highlighted several tax exemptions that have come into effect for the new manufacturing industry, the
lowest corporate tax rate in India, faceless and seamless taxation process, abolition of archaic laws,
compliances to increase ease of doing business, and special incentives for the semiconductor industry.
ii.He elaborated on giving 50% financial assistance to the technology firms to establish semiconductor
manufacturing facilities in India under the SemiconIndia Program.

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SemiconIndia future DESIGN DLI: MeitY adds two new Semiconductor Design MSMEs
On 29th July 2023, the Ministry of Electronics and Information Technology (MeitY) included 2 more
semiconductor design startups/ o, Small & Medium Enterprises (MSMEs) namely Aheesa Digital Innovations
and Calligo Technologies under its SemiconIndia future DESIGN Design-Linked Incentive (DLI) scheme at the
SemiconIndia 2023 conference in Gandhinagar, Gujarat.
• With this inclusion, a total of 7
MSMEs/startups are under the DLI scheme.
Background:
i.Earlier in 2023, MeitY had already approved the names
of 5 other startups/MSMEs under the DLI scheme during
the 2nd and 3rd DLI Roadshows in February 2023 in
Bengaluru (Karnataka) and in May 2023, in Delhi.
ii.The 7 beneficiaries will be working on making chip and
IP cores for the automotive, mobility, and computing
sectors
DLI Scheme and its Objective:
i.The DLI Scheme is implemented by the Center for
Development and Advanced Computing (C-DAC).
ii.Under the DLI Scheme, the ChipIN centre has been set
up at C-DAC as a one-stop centre to provide chip design &
fabrication services to supported companies.
iii.The DLI scheme offers financial incentives and design
infrastructure support for the development and deployment of semiconductor designs for Integrated Circuits
(ICs), Chipsets, System on Chips (SoCs), Systems & Intellectual Property (IP) Cores, and semiconductor linked
design(s) over a period of 5 years.
Aheesa Digital Innovations:
i.The Chennai(Tamil Nadu)-based Aheesa Digital Innovations Private Limited (Aheesa) is a fabless
semiconductor company that focuses on Telecom, Networking, and Cyber Security domains.
ii.Under the scheme, Aheesa plans to develop its own Aheesa Vihaan series of Networking SoCs, an integrated
circuit that integrates most or all components of a computer or other electronic system.
iii.The first version of Aheesa Vihaan is based on the soft IP-form C-DAC’s VEGA Processor Core, developed
under Digital India RISC-V Processor (DIR-V).
iv.Aheesa would be releasing the Gigabit Passive Optical Networking (GPON)/Ethernet Passive Optical
Networking (EPON) Optical Network Terminal (ONT) reference platform (Aheesa Seshnag) based on Aheesa
Vihaan with Operating System (OS), drivers, toolchains and applications for Indian Network and Telecom
product manufacturers.
Calligo Technologies:
i.Bengaluru(Karnataka)-based Calligo Technologies is also a fabless semiconductor start-up that works in the
areas of High-Performance Computing (HPC), Big Data and Artificial Intelligence (AI)/machine learning.
ii.The company works to improve computing performance by means of software and hardware acceleration.
iii.Under the scheme, Calligo will develop an accelerator product capable of doing computations, using a new
number system- POSITs, which will be integrated into Digital India’s RISC-V Processor (DIR-V) with this co-
processor.
iv.It would be creating a highly power-efficient and computationally more accurate Central Processing Unit
(CPU) – TUNGA (Technology for Unum – based Next Generation Arithmetic) Silicon.
• This Silicon will power a Peripheral Component Interconnect Express (PCIe)-based Accelerator
Card, UTTUNGA. This solution does not require any source-level modifications to run the HPC/AI
Application.

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AMD Announces Plan to Invest Approx USD 400 Million in India to Expand Design Center Operations
On 28th July 2023, Advanced Micro Devices, Inc. (AMD), a California (United States of America-USA)-based
computing, graphics, and visualization technologies company, committed to investing approximately USD 400
million in India over the next 5 years.
• Mark Papermaster, Executive Vice President (EVP) and Chief Technology Officer (CTO) of AMD,
announced the investment plans during the second edition of SemiconIndia 2023 in Gandhinagar,
Gujarat.
• The planned investment includes a new AMD campus in Bengaluru(Karnataka) that will serve as the
company’s largest design center and is expected to create approximately 3,000 new engineering
jobs by the end of 2028.
Key Points:
i.The new AMD campus, which will span 500,000 square feet (46,500 sq m), is expected to open before the end
of 2023.
ii.It will feature extensive lab space, state-of-the-art collaboration tools, and seating configurations designed to
promote teamwork.
iii.It will also provide tremendous opportunities for a large pool of highly skilled semiconductor engineers and
researchers.
iv.The investment is supported by various policy initiatives of the Government of India focused on the
semiconductor industry.
Establishment of AMD in India:
AMD has been an active part of the semiconductor ecosystem in India since 2001, when the company
established its first site in India at New Delhi, Delhi.
15th Japan-India Foreign Ministers’ Strategic Dialogue: India & Japan Explore Collaboration in
Semiconductors in Delhi
On 27th July 2023, Dr Subrahmanyam Jaishankar, External Affairs Minister (EAM) of India, held the 15th India-
Japan Foreign Ministers’ Strategic Dialogue with Yoshimasa Hayashi, Minister of Foreign Affairs of Japan in New
Delhi, Delhi. They explored potential areas of collaboration in critical and emerging technologies, including
semiconductors; resilient supply chains; and digital public infrastructure, among others.
• This is a part of the plans to reach a target of USD 35.9 billion Japanese investment in India by 2027.
• The Ministers also discussed ways to deepen Defense Equipment and Technology Cooperation.
Key Highlights:
i.The ministers’ emphasized the crucial role of a strong partnership between India and Japan in ensuring a Free
and Open Indo-Pacific (FOIP).
ii.They also highlighted the significance of achieving the investment target of 5 trillion yen (Japanese Yen) in
public-private investment and loans to India over the next 5 years (2022–27).
• This goal was set by both India and Japan during Prime Minister KISHIDA Fumio’s visit to India in
March 2022.
iii.Minister Hayashi requested cooperation to improve the investment environment and for the early
establishment of a Joint Crediting Mechanism (JCM).
iv.The two ministers affirmed continuing to make steady progress on the high-speed rail project, a flagship
project of Japan and India.
v.In order to strengthen medium- to long-term Japan-India relations through people-to-people exchanges, they
agreed on expanding human exchanges between the 2 countries, such as tourism and international students.
• India and Japan are celebrating 2023 as the ‘Year of India-Japan Tourism Exchanges’ with the theme
of ‘Connecting Himalayas with Mount Fuji’
vi.They also discussed cooperation in the international arena, such as in the Quad countries and Security
Council reform.

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Recent Related News:
On 9th May 2023, the India Semiconductor Mission (ISM) signed a Memorandum of Understanding (MoU) with
Purdue University, Indiana, United States of America (USA) in the presence of Union Minister Ashwini
Vaishnaw, Ministry of Electronics and Information Technology (MoE&IT), for capacity building, research and
development (R&D), and industry participation.
About India Semiconductor Mission (ISM):
It is a specialized and independent Business Division within the Digital India Corporation.
Under the oversight of the Ministry of Electronics and IT (MeitY), the ISM was introduced in 2021.
Chairman– Alkesh Kumar Sharma
Chief Executive Officer– Amitesh Kumar Sinha
Headquarters– New Delhi, Delhi

India & Moldova Agreed to Sign MoU for Cooperation in Agriculture

On July 31st 2023, India and eastern European country Moldova agreed to sign a memorandum of
understanding (MOU) for cooperation in the agriculture sector during a meeting between Shobha Karandlaje,
Minister of State(MoS) for Agriculture, and Vladimir Bolea, Deputy Prime Minister and Minister for Agriculture
& Food Industries of Moldova at Krishi Bhawan, New Delhi, Delhi.

• During the meeting, the Ministers emphasized the potential for increasing bilateral trade in
agricultural commodities and for strengthening of bilateral agricultural cooperation through the
exchange of knowledge and technology.
• Vladimir Bolea expressed Moldova’s interest in exporting vegetable oils to India and importing
fertilizers and pesticides from India .
• He also highlighted the Moldovan culture of producing wine and apples as a way of life and
expressed interest in exporting these products to India.
About Moldova:
Prime Minister(PM)- Dorin Recean
President- Maia Sandu
Currency- Moldovan Leu (MDL)
Capital- Chisinau

BANKING & FINANCE

Non-Food Bank Credit grew to 16.3% in June 2023, for Aviation its 93.4% Hike: RBI Data
On July 31, 2023, the Reserve Bank of India (RBI) released a report ‘Sectoral Deployment of Bank Credit – June
2023‘ showcasing a Year-on-Year (Y-o-Y) growth of non-food bank credit to 16.3% in June 2023 as compared
with 15% in June 2022.
• This rise is due to the strong demand for credit from sectors such as services, retail and agriculture,
and allied activities.

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 • On the other hand, the food bank credit shows a decline of -25.4% in June 2023 as compared to a
decline of -55% in June 2022.
• The Total Bank Credit (Food Credit + Non-food Credit) grew at 16.2% in June 2023 from 14.5% in
June 2022.
Basis of Assessment:
Data on sectoral deployment of bank credit for the month of June 2023 collected from 40 select Scheduled
Commercial Banks (SCBs), accounting for about 93% of the total non-food credit deployed by all SCBs
Highlights:
The following highlight shows the non-food bank credit in different sectors in June 2023 as compared to June
2022:
i.The credit growth in the agriculture and allied activities sector showed significant improvement, increasing to
19.7% (y-o-y) in June 2023 from 12.9% in June 2022.
ii.In June 2023, the credit growth to the industry sector registered a positive trend, growing by 8.1% (y-o-y)),
although slightly lower than the 9.5% recorded in June 2022.
• Size-wise, credit to large industry rose by 6.4% from 3.2%.
• Credit to medium industries grew by 13.2% from 47.8%
• Credit to and micro and small industries by 13% from 29.2%.
iii.The credit growth to the services sector accelerated to
26.7% y-o-y in June 2023 from 12.8% in 2022 amid
improved credit offtake to Non-Banking Financial
Companies (NBFCs) and trade.
iv.Personal loans registered a growth of 20.9% (y-o-y) in
June 2023 as compared to 18.1% in June 2022 supported
by the increasing demand for housing and vehicle loans.
v.Among major industries, credit growth (y-o-y) to the
‘basic metal & metal products’ and ‘textiles’ sectors
showed acceleration in June 2023.
vi.On the other hand, credit growth to the ‘chemicals &
chemical products’, ‘food processing’, and ‘infrastructure’
sectors decelerated in June 2023.
The Story of Bank Credit to Aviation:
According to the report, the gross credit deployment in
the aviation sector by 40 Indian SCBs witnessed a
remarkable 93.4% year-on-year (y-o-y) surge in June
2023, reaching Rs 42,033 crore from Rs 21,733 crore in June 2022.
• This surge represents the highest monthly credit outstanding in the aviation sector since FY22.
• This also marks a month-on-month (May versus June) increase of 32%.

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Key Points:
i.Investments within the aviation sector have experienced a healthy rebound in response to increased air
traffic.
However, the rise in investments also reflects the necessity for additional funds due to the growth and
inflationary pressures in the sector.
ii.Another reason for the increase in to overcome ATF (aviation turbine fuel) prices which surged by over
100% per barrel after the Russia-Ukraine war and remain elevated, along with COVID-19 pandemic hit.
iii.The financing support through the Finance Ministry-backed ECGLS (Emergency Credit Line Guarantee
Scheme) has also contributed to the increased credit deployment in the aviation sector.
iv.The RBI considers credit deployment within the aviation sector as part of the services sector.
v.ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) has maintained
a ‘stable’ outlook for the Indian aviation industry for 2023 and expects it to remain stable in 2023-24.
vi.Domestic air traffic in June 2023 has risen 4% from pre-Covid levels, to approximately 1.25 crore
passengers,.
• Crisil also reaffirmed Air India’s rating at ‘Crisil AAA / Stable / Crisil A1+’, whereas ICRA upgraded
IndiGo’s rating to [ICRA]A+(Stable)/[ICRA]A1+.
About Bank Credit in India:
Bank credit is categorized into two main segments: food credit and non-food credit.
i.Food credit: This represents the lending provided by banks to the Food Corporation of India (FCI), primarily
to support the procurement of foodgrains. Food credit constitutes a relatively small proportion of the overall
bank credit.
ii.Non-food credit: The significant portion of bank credit falls under non-food credit, which encompasses loans
extended to various sectors of the economy, including Agriculture, Industry, and Services. It also includes
personal loans provided by banks.
Recent Related News:
i.According to the second advance estimates (SAE) of national income released by the National Statistical Office
(NSO) the Indian economy is expected to have recorded a 7.0% growth in real GDP (Gross Domestic Product) in
FY23 from 9.1% in FY22.
ii.During the June 2023 Monetary Policy Committee (MPC) meeting, the six-member MPC left the repo rate
unchanged at 6.5% for the second time.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors –Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar, and
Swaminathan Janakiraman
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra

Paytm Launches 2 New Devices: Pocket Soundbox & Music Soundbox To Empower On-The-Go
Merchants
On July 31, 2023, Paytm, owned by One97 Communications Ltd (OCL), introduced two new cutting-edge
payment devices, the Paytm Pocket Soundbox and Paytm Music Soundbox. Both devices are equipped with
4G capabilities, providing enhanced convenience for on-the-go merchants.
About Paytm Pocket Soundbox:
It is a first-of-its-kind ‘Made in India’ portable device as small as debit card to empower on-the-go merchants
with instant audio payment alerts. This easy-to-carry device has all the features of Paytm Soundbox.
• It provides 5-day battery life, 4G connectivity and a torch to keep going even in low-light conditions.
• The merchants on the go include cab and auto drivers, electricians, delivery agents, parking fee
collectors and cart vendors.

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About Paytm Music Soundbox:
It is a unique device that allows merchants to play music from their mobile phones via Bluetooth while
managing payment transactions. It serves both as a speaker for payment notifications and a Bluetooth music
player.
• It has 10-day battery life, 4G connectivity and a powerful 4W speaker.
• An additional feature called “voice overlay” enables merchants to hear payment notifications while
music is playing.
About Paytm:
Founder & CEO– Vijay Shekhar Sharma
Headquarters– Noida, Uttar Pardesh (UP)

Sebi asks MIIs to develop Common Online Dispute Resolution Portal

On 31st July 2023, Security market regulator, Securities and Exchange Board of India(SEBI) released a circular
stating Market Infrastructure Institutions (MIIs) such as stock exchanges, depositories and clearing
corporations should set up a common Online Dispute Resolution (ODR) portal to resolve disputes involving
investors, listed companies, designated intermediaries and regulated entities.

• Market participants such as all listed companies, specified intermediaries and regulated entities
should enrol in the portal.
• Essential features and functionalities will be integrated into the ODR Portal to facilitate the
registration of investors and market participants, the submission of complaints, and the uploading
of relevant documents or papers related to the dispute.
• The portal will include a status update facility that retrieves information from the ODR Institution
concerning the progress of the complaint.
Two Phases:
Phase 1(From 1st August 2023 to 16th August 2023):
i.Development of the ODR Portal, empanelment of ODR Institutions by the MIIs and empanelment of
conciliators and arbitrators by those ODR Institutions by August 1, 2023.
ii.Registration of trading members and depository participants on the ODR Portal will be accomplished by
August 15, 2023.

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iii.From August 16, 2023 onwards, the registration of complaints against brokers and depository participants,
as well as their resolution, will commence.
Phase 2:
i.It is proposed that registration of all other market participants on the ODR Portal will be completed by
September 15,2023.
ii.The registering of complaints against all other market participants and their resolution will begin from
September 16,2023.
Dispute resolution process:
To initiate the dispute resolution process, SEBI has outlined the following steps:
i.In the first instance, the investor must raise their grievance directly with the market participant by lodging a
complaint.
ii.If the grievance is not resolved satisfactorily, the investor can escalate it through the SCORES(SEBI
Complaints Redress System) portal.
iii.After exhausting all available resolution options, if the investor remains dissatisfied, they can initiate dispute
resolution through the ODR Portal.
iv.Alternatively, the investor may directly opt for the ODR Portal if the grievance lodged with the market
participant was not resolved to their satisfaction, or at any subsequent escalation stage.
Note: The concerned market participant has the option to initiate dispute resolution through the ODR Portal.
However, before doing so, they must provide the investor with a notice period of at least 15 calendar days to
attempt resolution, which should have remained unsatisfactorily resolved between them.
About Securities Exchange Board of India(SEBI):
Chairperson – Madhabi Puri Buch
Headquarters – Mumbai, Maharashtra
Established in – 1992

Karnataka Bank Hosts Fintech Growth Program in Bengaluru

On 28th July 2023, Karnataka Bank Limited, a leading ‘A’ Class Scheduled Commercial Bank in India, hosted the
first edition of ‘KBL – FinOne’, “A Fintech Growth Program” in Bengaluru, Karnataka.
• The objective is to forge collaborations to develop innovative business models, providing seamless
banking experience & offering a complete product suite.
• Srikrishnan H is the Managing Director(MD) and Chief Executive Officer(CEO) of the bank.
The first edition of ‘KBL – FinOne’ featured over 30 speakers from various fintechs, on topics such as emerging
lending models, neo-banks, platformization, including no code – low code, embedded finance, cards
infrastructure, payment innovations, etc.
Note: The event is hosted in association with “The Fintech Meetup”.

APPOINTMENTS & RESIGNATIONS

Thuraiya Hamid Alhashmi Elected as BoD and Constituency Director of BRICS’ NDB
BRICS’ New Development Bank (NDB) has elected Thuraiya Hamid Alhashmi, Director of International
Financial Relations and Organisations Department at the United Arab Emirates (UAE) Ministry of Finance, as a
member of its Board of Directors and a Constituency Director.
• Alhashmi will become the first Emirati and Arab woman to assume a Director’s position at the NDB
bank, established by Brazil, Russia, India, China and South Africa (BRICS) in July 2015 to support
infrastructure projects in BRICS countries and other emerging economies
• She was appointed following an internal voting process during NDB’s 8th annual meeting held in
Shanghai, China.

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Alhashmi was involved in managing the UAE’s relationship with international financial organizations, including
the World Bank, the International Monetary Fund (IMF), the European Bank for Reconstruction and
Development (EBRD), NDB, the Organization of the Petroleum Exporting Countries (OPEC) Fund for
International Development, the Islamic Development Bank (IsDB), and the G20 (Group of Twenty) Finance
Track

ACQUISITIONS & MERGERS

LIC MF Completes Merger of IDBI MF Schemes
On 29th July 2023, Life Insurance Corporation of India(LIC) Mutual Fund completed the acquisition of
Industrial Development Bank of India(IDBI) mutual fund from IDBI Asset Management Limited following the
approval of Competition Commission of India (CCI) in March 2023.

• A Scheme Transfer Agreement was entered into between LIC Mutual Fund Asset Management
Limited (“LIC AMC”), the asset management company, and LIC Mutual Fund Trustee Private Limited
(“LIC Trustee”), the trustee company of LIC MF, with IDBI Asset Management Limited (“IDBI AMC”),
the asset management company, and IDBI MF Trustee Company Limited (“IDBI Trustee”), the
trustee company of IDBI Mutual Fund (“IDBI MF”).
• With this merger, LIC aims to enhance and broaden its product range, extend its presence and
increase its assets under management (AUM).
About Merger:
i.Out of the 20 schemes of IDBI Mutual Fund, 10
schemes would undergo a merger with corresponding
schemes of LIC Mutual Fund.
• The remaining 10 schemes would be directly
taken over by LIC Mutual Fund as standalone
offerings.
ii.This will expand the total product offering of LIC
Mutual Fund from 28 schemes to 38 schemes.
Aim of the Merger:
i.The merger aims to offer schemes in the mid-cap,
small-cap, gold fund and passive fund segments.
ii.Access to LIC mutual fund’s diverse range of product
offerings, encompassing equity, debt, hybrid, solution-
oriented themes, Exchange-Traded Funds (ETFs) and
Index funds will be made available to investors who
have invested in IDBI mutual fund schemes.
Additional Info:
i.As of June 2023, LIC Mutual Fund had an AUM of Rs 18,400 crore, while IDBI Mutual Fund had Rs 3,650 crore.

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ii.LIC mutual fund operates as an Asset Management Company (AMC) with Life Insurance Corporation of India
(LIC) serving as its sponsor. Other stakeholders include LIC Housing Finance Ltd, GIC(Government Insurance
Company) Housing Finance Ltd, and Union Bank of India.
iii.IDBI mutual fund has IDBI Bank as its sponsor, and IDBI AMC fulfils the role of the asset management
company for IDBI mutual fund. IDBI Trustee Company serves as the trustee company for IDBI mutual fund.
About Life Insurance Corporation(LIC) Mutual Fund:
Managing Director(MD) & Chief Executive Officer(CEO) – T. S. Ramakrishnan
Headquarters – Mumbai, Maharashtra
Established in – 1989
About Industrial Development Bank of India(IDBI) Mutual Fund
Managing Director(MD) & Chief Executive Officer(CEO) – Raj Kishore Singh
Headquarters – Mumbai, Maharashtra
Established in – 2010

SPORTS
England Bowler Stuart Broad Retires From all Forms of Cricket
The 37 year old England Cricketer Stuart Christopher John Broad announced his retirement from all forms of
Cricket on 29th July 2023 during the midway of England vs Australia’s 5th Ashes Test at The Oval stadium,
London, United Kingdom (UK).

Achievement of Stuart Broad:

i.He made his One Day International(ODI) and Twenty20 International (T20I) debuts against Pakistan in
August 2006 and Test debut in December 2007 against Sri Lanka.
ii.Played for England national team in 167 test matches with 604 wickets.
• He also played 121 ODI with 178 wickets and 56 T20I matches with 65 wickets.
iii.He was honoured with Member of the Order of the British Empire (MBE) in 2016 for his services to cricket.
iv.As of now(July 2023), he is the Fifth highest wicket taker in Test history with 602 runs in 167 matches.
Moeen Ali confirms his Retirement from Test Cricket after Ashes 2023
England all-rounder Moeen Ali confirms his test cricket retirement after the end of the Ashes series and he
will play in other formats of cricket.
Backdrop:
• On the request of England Test captain BenStokes, he played the Ashes series.But he retired from
test cricket in September 2021.
About Moeen Ali:
i.He played for England in 68 test matches taking 204 wickets and scored 3094 runs.
ii.He was awarded the Order of the British Empire(OBE) in June 2023 for his services to cricket.

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Australia Retains Ashes 2023
Australia cricket team retained the 5 match test series ‘Ashes 2023’ after the 2-2 draw against England.It was
held from 16th June to 31st July in the United Kingdom(UK).
• This marks Australia’s 4th consecutive win in the series.
• So far in the Ashes series, Australia won 34 Ashes and England won 33 Ashes, 5 series were drawn.
Summary of 5 test matches:
1st test: Australia Won by 2 wickets at the Edgbaston, Birmingham.
2nd test: Australia Won by 43 runs at the Lord’s, London.
3rd test: England Won by 3 wickets at the Headingley, Leeds.
4th test: Match drawn due to rain and it was held in Old Trafford, Manchester.
5th test: England won by 49 runs at the Oval, London.
Award Winner:
i.England Player of the Series – Chris Woakes
ii.Australia Player of the Series- MItchell Starc
iii.England’s Men’s Player of the Summer: Joe Root

OBITUARY
Vakkom Purushothaman, Congress Leader and Former Governor passed away
On 31st July 2023, Vakkom Purushothaman, Senior Congress leader and former Speaker of Kerala, who also
served as Governor of Mizoram, Tripura and Andaman & Nicobar Island passed away at the age of 95 in
Thiruvananthapuram, Kerala.

• He was born in Vakkom, Thiruvananthapuram (Kerala) on April 12, 1928.He was a member of the
All India Congress Committee (AICC) for over 25 years.
About Vakkom Purushothaman:
i.Vakkom Purushothaman, an advocate by profession started his political life as a worker of the Students
Congress in 1946. He became a Member of Vakkom Panchayath in 1953.
ii.He was elected to the Kerala Assembly 5 times from the Attingal Assembly constituency and became a
Minister in the Kerala government thrice from 1971-1977, 1980 to 1981, and 2004 to 2006.
iii.He was the longest-served Speaker of the Kerala assembly, from 1982 to 1984 and again from 2001 to 2004.
iv.He was also elected to the Lok Sabha twice, from the Alappuzha constituency, and served from 1984-1989
and 1989-1991.
v.He served as the 6th Lieutenant Governor of the Andaman and Nicobar Islands from 1993 to 1996, and
Governor of Tripura (Additional Charge) for two months in 2014.

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 BOOKS & AUTHORS
Rishi Raj’s New Book “Kargil: Ek Yatri Ki Jubani”, a True Tribute to Martyrs of Kargil War
Released
On 23rd July 2023, Ajay Bhatt, Minister of State (MoS), Ministry of Defence (MoD), released the book and
illustrations titled “Kargil: Ek Yatri Ki Jubani” (Hindi Edition) authored by Rishi Raj at the Constitution Club
of India, New Delhi, Delhi. The book which pays tribute to the Martyrs of Kargil War was published by Prabhat
Prakashan.
• The book portrays the lives of all the 527 soldiers, who laid down their lives for our nation in the
Kargil War.
• The book highlights the importance of the Kargil Vijay Diwas and giving rich tributes to the brave
soldiers.
Rishi Raj has authored as many as 21 books, out of which four bagged the Rahul Sankrityayan Award from the
Ministry of Tourism, Government of India (GoI).
• The event was graced by Subedar Major (Then Rifleman) Sanjay Kumar, who was awarded Param
Vir Chakra in the Kargil War.
Note: Kargil War also refered as “Operation Vijay” was fought between India and Pakistan from May to 26th
July 1999 in the Kargil district of Jammu and Kashmir(J&K). July 26th has been observed as ‘Kargil Vijay
Diwas’, which annually commemorates the sacrifices made by soldiers in this war.

IMPORTANT DAYS
Aviation Security Culture Week 2023 – 31st July – 5th August
India’s aviation security regulator, the Bureau of Civil Aviation Security (BCAS), under the Ministry of Civil
Aviation (MoCA), inaugurated ‘Aviation Security Culture Week’ at its headquarters in New Delhi, Delhi from
July 31st to August 5th 2023, for the first time in the India.

• The theme of the ‘Aviation Security Culture Week’ is “See it, Say it, Secure it” which will be
celebrated across all the major and non-major airports of India.
The main objective of the week is to inculcate security consciousness amongst members of the aviation
community setup as well as passengers and also to make passengers aware of prohibited things they should not
carry while traveling.
Key people:
i.Capt. Devi Sharan, senior aviator and instructor in Air India, (famously known as the Captain of the flight IC-
814, hijacked to Kandahar in 1999), was the chief guest in the event. Anil Sharma, head of the cabin team and
chief purser of IC-814, was the guest of honor at the event.
ii.All the aviation stakeholders like the Airports Authority of India, airlines, Central Industrial Security Force
(CISF) and passengers will take part in security awareness week.

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During ‘Aviation Security Week’, BCAS has planned to undertake various activities in civil aviation
including:
i.Setting up of information booths, kiosks in the forecourt area, terminal buildings.
ii.Announcement in aircraft
iii.Placing cards mentioning security awareness contents in the airport environment.
iv.Insertion of the tagline in the ticket-related SMS/mails/WhatsApp from the aircraft operators and online
travel agency (OTA).
v.Short films for displaying at the departure hall.
vi.Pop-up regarding aviation security culture week on BCAS websites.
vii.Organizing quiz & signature boards for signing for passengers
viii.Dog Squad shows by CISF on a daily basis during the week.
About Bureau of Civil Aviation Security (BCAS):
Director General- Zulfiquar Hasan
Headquarters-New Delhi, Delhi
Established- 1978

World Breast Feeding Week 2023 – 1st to 7th August

The United Nations (UN) World Breast Feeding (WBW) week is annually celebrated worldwide during the first
week of August, from 1st to 7th to raise awareness about breastfeeding and its benefits.

• Its main aim is to support and encourage breastfeeding as a vital aspect of health and well-being for
both mother and child.
• WBW was 1st observed in 1992.
WBW 2023: Theme
i.According to WHO, theme for 2023 is “Let’s make breastfeeding and work, work”.
• The theme will focus on breastfeeding and work, to advocate maternity rights, maternity leave for a
minimum of 18 weeks and workplace accommodations.
ii.The World Alliance for Breastfeeding Action (WABA) has set a theme for WBW 2023 – “Enabling
breastfeeding: making a difference for working parents.”
Note -The theme is aligned with thematic area 4 of the WBW-Sustainable Development Goals (SDGs) 2030
campaign.
Background:
As per WABA, WBW was started in 1992 to mark the anniversary of the Innocenti Declaration in August 1990
in Florence, Italy.
Innocenti Declaration
The Declaration was produced and adopted by participants at the WHO/UNICEF policymakers’ meeting
on “Breastfeeding in the 1990s: A Global Initiative”, co-sponsored by the United States Agency for
International Development (A.I.D.) and the Swedish International Development Authority (SIDA), held at the
Spedale degli Innocenti, Florence, Italy, on 30 July- 1 August 1990.
ii.In 2016, the week aligned its mission with the UN SDG and began promoting various strategies to encourage
breastfeeding naming it WBW-SDGs Campaign

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iii.In 2018, the WHO adopted a resolution and endorsed WBW as an important breastfeeding promotion
strategy.
WABA objectives for World Breastfeeding Week 2023:
i.Inform people about working parents’ perspectives on breastfeeding and parenting
ii.Anchor optimal paid leave and workplace support as important tools to enable breastfeeding
iii.Engage with individuals and organizations to enhance collaboration and support for breastfeeding at work
iv.Galvanize action on improving working conditions and relevant support for breastfeeding
According to WHO:
i.More than half a billion working women are not given essential maternity protections in national laws
ii.Just 20% of countries require employers to provide employees with paid breaks and facilities for
breastfeeding or expressing milk
iii.Fewer than half of infants under 6 months of age are exclusively breastfed.
About World Alliance for Breastfeeding Action (WABA):
WABA is a global network of individuals and organizations dedicated to the protection, promotion and support
of breastfeeding worldwide based on the Innocenti Declaration, the Ten Links for nurturing the Future and the
World Health Organization (WHO)/ United Nations International Children’s Emergency Fund (UNICEF) global
strategy for infant and young child feeding.
Chairperson- Felicity Savage
Established- 1991
Headquarters- Penang, Malaysia

World Lung Cancer Day 2023 – August 1

World Lung Cancer Day is annually observed across the globe on 1st August to create awareness about the
causes and treatment of lung cancer and to educate people about the habits and factors that can cause lung
cancer.

• The day also aims to focus more on lung cancer research and arrange financial and moral support
for it.
Symbol: Pearl or White-coloured Ribbon represents Lung Cancer Awareness.
Background:
i.The campaign for World lung cancer Day was first organized in 2012 by the Forum of International
Respiratory Societies (FIRS) in collaboration with the International Association for the Study of Lung Cancer
(IASLC) and the American College of Chest Physicians.
ii.The IASLC World Conference on Lung Cancer (WCLC) is the only global organization, solely dedicated to the
study of lung cancer-related problems.
• It educates people about the major risk factors of lung cancer such as Tobacco smoking, Radon,
Asbestos, etc.
Lung Cancer :
Lung cancer is a type of cancer that starts when abnormal cells grow in an uncontrolled way in the lungs and
may spread to lymph nodes or other organs in the body, such as the brain. Cancer from other organs also may
spread to the lungs

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Types:
The most common types of lung cancer include lung nodules, Non-Small Cell Lung Cancer (NSCLC), Small Cell
Lung Cancer (SCLC) and mesothelioma.
Key Points:
i.According to the World Health Organization (WHO), Lung cancer is the leading cause of cancer-related deaths
worldwide, accounting for the highest mortality rates among both men and women.
• Lung cancer is responsible for nearly one in 5 cancer deaths. While lung cancer and breast cancer
are diagnosed at the same rate (11.6% percent), lung cancer kills more people yearly than breast,
colon, and prostate cancers combined.
• Lung cancer mortality is projected to reach 2.45 million by 2030, a 39% increase in just over a
decade.
• Smoking is the leading cause of lung cancer, responsible for approximately 85% of all cases.
ii.Air pollution, particularly Particulate Matter (PM)2.5, is a significant factor associated with lung cancer and
has been classified as a Group 1 carcinogen by the IARC since 2013.
• According to WHO, 99% of the world’s population breathes unhealthy air.
Related Observance:
i.World Cancer Day is annually observed across the globe on February 4, to promote awareness of cancer as a
public health issue.
ii.This global initiative is led by the Union for International Cancer Control (UICC).
IASLC 2023 World Conference on Lung Cancer (WCLC):
i.The conference is organized by the International Conference Services Ltd. (ICS), International Association for
the Study of Lung Cancer (IASLC) and will be held from September 9 – 12, 2023 at Suntec Singapore Convention
& Exhibition Centre, Suntec City, Singapore, Singapore.
ii.WCLC 2023 is a global, multi-disciplinary meeting designed for physicians, nurses, clinicians, researchers,
scientists, survivors, and advocates.
About the International Association for the Study of Lung Cancer (IASLC):
President– Dr. Heather Wakelee (the United States of America (USA))
Headquarters– – Denver, Colorado, USA
Founded in– 1974

STATE NEWS
UNFPA & MP govt Launch ‘Just Ask!’ Chatbot for Adolescents & Young Adults on SRHR
United Nations Population Fund (UNFPA), formerly known as the United Nations Fund for Population Activities
in collaboration with the National Health Mission (NHM) and the Department of Public Health and Family
Welfare, Government of Madhya Pradesh (MP) launched an Artificial Intelligence (AI)-enabled chatbot
called ‘Just Ask!’ (Khulke Poochho in Hindi), for adolescents and young adults (15-29 years) in India to explore
information and become aware on the issues related to Sexual and Reproductive Health and Rights (SRHR).

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 • The chatbot will equip, empower, and educate them about the need for accurate and accessible
information on social issues.
• The chatbot has been developed by the UNFPA sexual and reproductive health experts.
Funding:
The project will be partly funded by Bayer, an international pharmaceutical company.
Bayer signed an agreement with UNFPA in India to contribute USD 720,000 to improve awareness on SRHR
among adolescents and young people.
Key People:
Prabhuram Choudhary, Minister of Public Health and Family Welfare of MP, and Andrea M Wojnar, India
Representative of UNFPA.
Features and Benefits of the Chatbot:
i.The chatbot provides a secure, personalized, and non-judgemental space for adolescents and young adults in
India (15-29 years).
ii.It assists them to be aware of the questions related to growing up, bodily changes, menstruation,
reproductive health, pregnancy and family planning, gender identity, sexual orientation, and other SRHR topics.
iii.The chatbot engages users in interactive conversations and provides them with accurate and reliable
information within minutes and free of cost.
• The content is supported by engaging infographics that increase comprehension and enable users to
follow instructions easily.
iv.The user experience is designed to be safe, personalized, multi-lingual, and compassionate.
• The platform has been developed in line with UNFPA’s Guide on the Safe and Ethical use of
Technology, the structural design will keep user data private.
v.It features two aspiring role models, Dhruv and Drishti, who communicate information in a simple and
relatable manner.
vi.The chatbot links adolescents and young people to Adolescent Friendly Health Clinics (AFHCs), government
health facilities, and helplines.
About United Nations Population Fund (UNFPA):
It is the United Nations (UN)’s sexual and reproductive health agency.
Executive Director– Dr. Natalia Kanem
Headquarters– New York, United States of America (USA)
Motto– “Ensuring rights and choices for all”
Established in– 1969

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Organisations publish their reports and Rankings in the evenings, to
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