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Table of Contents
NATIONAL AFFAIRS ...................................................................................................................................................... 7
CABINET APPROVALS ............................................................................................................................................... 7
PARLIAMENT NEWS ................................................................................................................................................ 14
LAUNCHES & INAUGURATION ............................................................................................................................... 20
OTHER NEWS............................................................................................................................................................ 39
STATE NEWS ................................................................................................................................................................. 63
GOVT SCHEMES ............................................................................................................................................................ 71
INTERNATIONAL AFFAIRS ......................................................................................................................................... 73
VISITS............................................................................................................................................................................. 78
INDIAN VISITS .......................................................................................................................................................... 78
FOREIGN VISITS ....................................................................................................................................................... 83
BANKING & FINANCE NEWS....................................................................................................................................... 89
BANKING NEWS ....................................................................................................................................................... 89
RBI IN NEWS ............................................................................................................................................................. 89
SEBI .......................................................................................................................................................................... 102
LOANS ISSUED BY BANKS..................................................................................................................................... 109
AGREEMENTS & MoUs SIGNED............................................................................................................................ 110
OTHER BANK NEWS .............................................................................................................................................. 119
FINANCE NEWS....................................................................................................................................................... 128
ECONOMY & BUSINESS NEWS.................................................................................................................................. 136
MoU’s & AGREEMENTS ............................................................................................................................................. 141
COMMITTEES & MEETINGS...................................................................................................................................... 160
SUMMITS, EVENTS & CONFERENCE ........................................................................................................................ 167
INDEX ........................................................................................................................................................................... 178
RANKING ................................................................................................................................................................. 178
REPORTS ................................................................................................................................................................. 182
AWARDS & RECOGNITIONS ..................................................................................................................................... 187
APPOINTMENTS & RESIGNATIONS ........................................................................................................................ 206
ACQUISITION & MERGERS ....................................................................................................................................... 225
SCIENCE & TECHNOLOGY ......................................................................................................................................... 228
President Droupadi Murmu Has Given Approval to Three More Bills in August 2023
The President of India Droupadi Murmu has given her assent to the following bills during the Monsoon Session,
2023 of Parliament:
• The Indian Institutes of Management (Amendment) Act, 2023
• National Dental Commission Act, 2023
• Offshore Areas Mineral (Development and Regulation) Amendment Act, 2023
The Indian Institutes of Management (Amendment) Act, 2023
The Indian Institutes of Management (Amendment) Act, 2023 falls under the jurisdiction of Ministry of
Human Resource Development.It was introduced in Lok Sabha on July 28, 2023, it amends the Indian
Institutes of Management (IIM) Act, 2017.
• The Act declares IIMs as institutes of national importance in alignment with the acts governing the
Indian Institute Of Technology (IITs) and other Institutes of National Importance.
• The Bill classifies the National Institute of Industrial Engineering (NITIE), Mumbai in Maharashtra as
IIM, Mumbai, means, NITIE is included in The IIM Act, 2017.Hence, NITIE is India’s proposed 21st IIM.
• It also redefines the roles of the Board, Director, and Visitor, and seeks to enhance accountability,
efficiency, and quality in management education.
• The bill empowers the “Visitor” to nominate the chairperson of the board of governors, oversee
appointment as well as removal of directors, and audit the functioning of the 20 IIMs in the country.
• The Bill designates the President of India as Visitor of every Institute covered by the Act.
Postal Life Insurance Launches Direct Incentive Disbursement for Sales Force
On August 7, 2023, Postal Life Insurance (PLI) introduced a pilot program for ‘Direct Incentive Disbursement’
in the Delhi and Uttarakhand Circles to recognize the role of its sales force or PLI’s agents.
• It was unveiled by Alok Sharma, Director General, Postal Services. Chief Postmasters General of all
Postal Circles also participated in this program through video conference.
About Direct Incentive Disbursement Initiative:
i.This initiative is their agent incentive program under which agents’ commissions from the previous month
directly transferred to their Post Office Savings Bank (POSB) Accounts resulting in swift and secure
transactions.
ii.It will also lead to the convenience and motivation of Salesforce.
iii.The automated payouts will reduce administrative costs, enabling a greater focus on delivering client
service.
iv.The introduction of this initiative marks a modernization of the incentives distribution process.
Key Points:
i.The PLI’s agent or sales staff is the driving force behind the department’s accomplishments.
ii.PLI is committed to strengthening its relationship with agents and fostering a culture of excellence as this
initiative will benefit around two lakh sales force members across India, including Gramin Dak Sevaks, Direct
Agents, Field Officers, and Departmental Employees.
Nitin Gadkari Launched World’s 1st BS 6 Stage II ‘Electrified Flex Fuel Vehicle”
Nitin Gadkari, Union Minister, Ministry of Road Transport and Highways(MoRTH) launched the world’s
first prototype of BS-VI(Bharat Stage Six) Stage II compliant “Electrified Flex Fuel vehicle”, Toyota
Innova Hycross.It is a variant of Toyota’s Innova, developed by Toyota Kirloskar Motor Private
Limited(Toyota Kirloskar).
• This is also India’s first flex-fuel electrified vehicle that can run in either electric
mode or 100% ethanol.
• This launch is in line with India’s target to increase ethanol blending in petrol by 20% by 2025-
2026.
About the Electrified Flex Fuel vehicle:
i.The new Electrified Flex Fuel vehicle(FFV) is based on the Innova Hycross and is designed and
developed to comply with the emission standards of India.
• Flexible fuel vehicles (FFVs) have an internal combustion engine and are capable of operating
on petrol and any blend of petrol and ethanol.
ii.The upcoming stages of this prototype will include meticulous refinement, homologation and
certification process.
iii.This innovative vehicle has an internal combustion engine and is capable of operating on petrol and any
blend of petrol and ethanol.
• Until now, the maximum limit of mixing is set at around 83%.But but this model says to run on
100 per cent ethanol.
Key People:
Union Minister Hardeep Singh Puri, Ministry of Petroleum and Natural Gas(MoPNG), Union Minister Dr
Mahendra Nath Pandey, Ministry of Heavy Industries; Masakazu Yoshimura, Managing Director & Chief
Executive Officer (MD & CEO), Toyota Kirloskar were presented during the launch.
Bharat Stage (BS):
Bharat stage(BS) emission standards are emission standards instituted by the Government of India to
regulate the output of air pollutants from compression ignition engines and Spark-ignition engines
equipment, including motor vehicles.
Bharat Stage Six(BS-VI):
i.Bharat Stage Six (BS-VI) or BS6 is the 6th emission benchmark or criterion in reducing pollution levels
when compared to the BSIV or BS4 emission norms.
• Both are the maximum emission norms which set the maximum pollution from the exhaust of
the motor vehicle.
• India shifted to BS VI vehicular emission norms by 1st April 2020 from BS IV.
ii.As per the previous Auto fuel Policy, BS-II, BS-III and BS-IV quality auto fuels were introduced in India by
1sy April 2017. The Committee proposed the implementation of BS-V emission norms by 1st April 2020
and the BS-VI emission norms from 2024.
iii.Due to the increasing pollution, the Government implemented the BS-IV and BS-VI emissions with effect
from 1st April 2020.
President of India Released Rs.100 Coin Commemorating Late Shri NT Rama Rao
Government of India(GoI) introduced a commemorative Rs.100 silver coin featuring the image of
the Nandamuri Taraka Rama Rao (N.T. R),a former Chief Minister of Andhra Pradesh and
a legendary Indian actor.President of India Droupadi Murmu released the coin to mark the 100th birth
anniversary (centenary Year) of N.T.Rama Roa at Rashtrapati Bhavan Cultural Centre(RBCC) in New
Delhi,Delhi.
Specifications of Rs.100 Silver coin:-
• The coin is 44mm in diameter and it is made from 50 percent Silver, 40 per cent Copper, 5 per
cent Nickel and 5 per cent Zinc.
• The coin features the national emblem, the Lion Capital of Asoka at Sarnath, on one side and an
image of NTR along with the inscription ‘Nandamuri Taraka Rama Rao Satha Jayanthi’ on the
other side.
• NTR’s centenary, the coin also has the inscription 1923-2023.
About N.T.Rama Rao
i.He served as the Chief Minister of Andhra Pradesh for three terms and was well known as Anna Garu
(Elder Brother) by the fans and supporters.He made his debut in Telugu language movies.
ii.N.T.Rama Rao was honored with three National Film Awards for his involvement in the production of
Telugu movies Thodu Dongalu (1954) and Seetharama Kalyanam (1960) and directing Varakatnam
(1970).He was also honoured with India’s fourth-highest civilian honour, the Padma Shri in 1968 in the
field of arts and films.
iii.He became familiar in 1950s for his portrayal of Hindu Gods such as Lord Krishna,Lord Rama and Lord
Shiva in his movies.
iv.He is also recognized for his role for the initiatives such as Telugu Cultural Renaissance and the Telugu
language movement.
The Government Mint
• India Government Mint, Mumbai (‘IGM Mumbai’) is engaged in the manufacture of circulation
coins, commemorative coins, medals and medallions, and weights & measures standards. The
IGM Mumbai, established in 1829, is one of the oldest mints in India.
• It is part of the Union Finance Ministry and is operated by the Security Printing and Minting
Corporation of India Limited (SPMCIL).
The first Mumbai Mint rupee was coined in the year 1672.
Union Minister Nitin Gadkari launches Bharat New Car Assessment Programme
Union Minister Nitin Gadkari, the Ministry of Road Transport and Highways (MoRTH) launched the Bharat
New Car Assessment Programme(BNCAP) in New Delhi, Delhi.
• The aim of the launch is intended to improve the road safety for M1 category motor vehicles
weighing less than 3.5T Gross Vehicle Weight (GVW).
• The BNCAP car test program begins on 1st October 2023,will be led by the Central Institute of Road
Transport (CIRT).
Key people:
Minister of State(MoS) for Road Transport and Highways Gen Vijay Kumar Singh and Anurag Jain, secretary
of Ministry of Road Transport and Highways (MoRTH)also present during the launch.
Note:
The M1 category refers to vehicles used for the carriage of passengers comprising not more than eight seats in
addition to the driver’s seat.
‘UPI Chalega 3.0’: NPCI Launched 3rd edition of UPI Safety Awareness Campaign
The National Payments Corporation of India (NPCI) has launched “UPI Chalega 3.0”, the 3rd edition of its
Unified Payments Interface (UPI) Safety Awareness campaign, developed in collaboration with key
stakeholders in the payments ecosystem. The campaign aims to promote the adoption of UPI as a secure, easy,
and instant mode of payment.
The campaign is designed to educate users about UPI’s various features, including UPI LITE for quick low-value
transactions, UPI AUTOPAY for secure recurring payments, and UPI Interoperability for seamless money
transfers across all UPI-enabled applications.
• Aim: To drive UPI adoption and safe usage through engaging initiatives such as enhancing brand
awareness of UPI, improving understanding of its features, and encouraging wider adoption among
new users.
• A dedicated microsite, www.upichalega.com, has been created to provide a comprehensive resource
hub, which offers informative videos, instructional guides, details about participating banks and
third-party apps, and dynamic social media updates.
• Users can access detailed information about UPI services, enabling them to set up and use UPI LITE,
UPI AUTOPAY, and UPI Interoperability.
Note: In 2020, the UPI Chalega campaign was launched under the guidance of the Financial Literacy Advisory
Committee (FLAC). UPI Chalega Campaign 1.0 and 2.0 had a significant impact on the adoption and
understanding of UPI, making it the preferred payment method.
NBRI Namoh 108: MoST Minister Dr Jitendra Singh unveils new variety of Lotus flower
developed by CSIR-NBRI
On August 19, 2023, Union Minister of State (Independent Charge) Dr Jitendra Singh, Ministry of Science &
Technology (MoST), unveiled “NBRI Namoh 108”, a unique variety of Lotus (Nelumbo nucifera) with 108 petals,
in Lucknow, Uttar Pradesh(UP).
• NBRI Namoh 108 was developed by Council of Scientific & Industrial Research- National Botanical
Research Institute (CSIR-NBRI), Lucknow(UP)-based institute of national importance which engaged
in research in the classical botanical disciplines.
About NBRI Namoh 108:
i.This is the first lotus variety whose genome is completely sequenced for its characteristics.
ii.It will be registered as the official lotus variety out of India.
iii.The name Namoh was inspired from “Om Namaha Vasudeva”. Namoh in Sanskrit translates to ‘salutations‘.
The name of the variety was given by an internal committee of the NBRI.
iv.The number 108 and lotus flower are considered auspicious in Hindu religion. Therefore this combination
gives an important identity to this variety.
Features:
i.The Namoh 108 blooms from March to December making it the longest-lasting among lotus varieties.
ii.Its maximum size can reach upto 10 inches in Diameter.
iii.It is rich in nutrients like amino acids, polyphenois, flavonoids, Catechins, fatty acids, carbohydrates, and
minerals.
iv.It can be propagated by rhizomes and through seeds and it can be grown in ponds, tanks, and pots.
Background:
The lotus was initially discovered several years back in Manipur, and kept at the institute as part of its
collection of flowers and plants, on which the institute conducts research.
NHA launches India’s 1st ABDM Microsite in Aizawl; Mizoram 1st state to Operationalize
Microsite
On 23rd August 2023, National Health Authority (NHA) launched India’s first Ayushman Bharat Digital Mission
(ABDM) microsite in Aizawl, the capital city of Mizoram. With this, Mizoram became the 1st State in India
to operationalise ABDM microsite project.
• Mizoram has appointed Youth for Action as the Interfacing Agency for implementing the ABDM
Microsite in Aizawl.
Note:
Besides Mizoram, other states including Andhra Pradesh(AP), Madhya Pradesh(MP), Uttar Pradesh(UP),
Maharashtra and Chhattisgarh have also made significant progress in the implementation of ABDM microsites.
More microsites are expected to be operational in the next few weeks.
Background:
i.On July 28, 2023, NHA launched the 100 Microsites project under ABDM to promote digital health adoption
and enhance healthcare accessibility for all.
ii.In April 2023, the Mission Steering Group(MSG) approved 100 Microsites project. These Microsites will be
established across India in various States and Union territories(UTs).
• Click Here to Read
What are Microsites?
Microsites are clusters of ABDM-enabled small and medium-scale healthcare facilities, such as clinics, nursing
homes, hospitals (with less than 10 beds), laboratories, and pharmacies, offering digital health services to
patients like linking the health records generated at these facilities with their Ayushman Bharat Health
Accounts (ABHAs).
• These records can be accessed and shared using ABDM-enabled Personal Health Record (PHR)
applications on patients’ phones.
Key Points:
i.The establishment of microsites is a step towards advancing healthcare digitization efforts throughout India.
ii.State Mission Directors of ABDM will oversee the implementation of this project while NHA will provide
financial resources and overall guidance for the project.
iii.Collaboration with development partners and interfacing agencies allows States and UTs to establish and
manage microsites, with on-ground teams engaging healthcare providers.
About National Health Authority (NHA):
Chief Executive Officer– Ram Sewak Sharma
Headquarter– New Delhi, Delhi
PM Launches Bhartiya Vastra evam Shilpa Kosh during 9th National Handloom Day in Delhi
On August 7, 2023, the Prime Minister (PM) of India Narendra Modi launched the e-portal ‘Bhartiya Vastra
evam Shilpa Kosh (भारतीय वस्त्र एवं शिल्पकोष) – A Repository of Textiles & Crafts’ developed by the National
Institute of Fashion Technology (NIFT) in collaboration with Ministry of Textiles.
• This launch was made during the 9th National Handloom Day celebration held at Bharat Mandapam,
Pragati Maidan, Delhi which was presided over by the PM.
• The event was hosted jointly by the Ministry of Textiles & Ministry of Micro, Small & Medium
Enterprises (M/o MSME).
• It was attended by over 3000 weavers and artisans from across India.
Note: The PM declared August 7 as the ‘National Handloom Day’ in 2015 to highlight the contribution of
handloom weavers in the development journey of India. This specific date commemorates the
Swadeshi Andolan launched in 1905.
About Textiles & Crafts Repository e-portal:
The online repository is a one-of-a-kind knowledge platform that connects the history, present status, and
future developments of textile, clothing, and related crafts. It offers access to a vast database of research papers,
case studies, dissertations, and doctoral theses in these areas, serving as a comprehensive resource for
information on new developments and current events in textiles and crafts.
Key Points:
i.PM also inaugurated a special three-day exhibition of handloom, handicraft and khadi products by awardee
weavers, cooperative societies, producer companies and women self-help groups (SHGs) from across India.
ii.Two films were showcased during the event:
• “संगठन से सफलता”- It highlighted the positive impact on weavers’ lives due to an organized
ecosystem of skilling, marketing and distribution by the Ministry of Textiles
• Another movie titled “Khadi for fashion” emphasized Khadi’s relevance for employment and the
economy.
iii.To raise awareness among young audiences about India’s handloom sector, a two-week educational
initiative at the National Crafts Museum was organized, benefiting over 10,000 students from 75 schools.
Other Participants:
Union Minister Piyush Goyal, Ministry of Textiles; Union Minister Narayan Tatu Rane, M/o MSME; Union
Minister of State (MoS) Darshana Jardosh, Ministry of Textiles; MoS Bhanu Pratap Singh Verma, M/o MSME;
among others representatives from handloom clusters across India, NIFT campuses, Weaver Service Centres
(WSCs), Indian Institute of Handloom Technology (IIHT) campuses, National Handloom Development
Corporation (NHDC), Handloom Export Promotion Council (HEPC), Khadi and Village Industries Commission
(KVIC) institutions and State Handloom Departments.
MoH&FW launched 2nd Phase of Nationwide MDA Campaign for Lymphatic Filariasis
On 10th August 2023, Union Minister Dr. Mansukh Mandaviya, Ministry of Health and Family Welfare
(MoH&FW), inaugurated the 2nd phase of the Annual Nationwide Mass Drug Administration (MDA)
campaign for Lymphatic Filariasis (LF) in New Delhi, Delhi.
• The 2nd phase will cover 81 districts in 9 endemic States – Assam, Bihar, Chhattisgarh, Jharkhand,
Karnataka, Maharashtra, Odisha, Telangana, and Uttar Pradesh(UP).
• During the event, Union Minister Mandaviya also launched the National Guidelines for Clinical
Management of Dengue Fever 2023 and Chikungunya Fever.
Note: Lymphatic Filariasis, commonly known as elephantiasis, is a neglected tropical disease (NTD). LF is a
Vector-Borne Disease transmitted by Culex mosquitoes.
Points to note:
i.India’s Accelerated Mission for Lymphatic Filariasis Eradication aims to achieve its goal of eliminating
Lymphatic Filariasis by 2027, three years ahead of the global target.
ii.LF can be successfully eliminated from India, by encouraging public participation (Jan Bhagidaari) and
adopting a ‘Whole of Government’ and ‘Whole of Society’ strategy.
Key People:
T.S. Singh Deo, Deputy Chief Minister (CM), Chhattisgarh; Brijesh Pathak, Deputy CM of Uttar Pradesh.
5 Pillars for Eliminating LF:
• Multi-drug administration (MDA) Campaign is held twice a year synchronized with National
Deworming Day (10th Feb and 10th August).
• Early diagnosis and treatment; engagement of medical colleges for strengthening Morbidity
management and disability (MMDP) services.
• Integrated Vector Control with multi-sectoral coordinated efforts.
• For inter-sectoral convergence with allied departments and ministries.
• Leveraging existing digital platforms for LF and exploring alternate diagnostics.
MSDE launched Special Skill Development Program for North East Region
On 8th August 2023, The Ministry of Skill Development and Entrepreneurship (MSDE)
launched ‘Transforming lives, building futures: Skill development and entrepreneurship in North-East’,
a special skill development program to create a robust skill-centric and industry-ready ecosystem in North-
Eastern Region (NER).
• The initiative was jointly unveiled by Dharmendra Pradhan, Union Minister, MSDE, Union Minister
G. Kishan Reddy, Ministry of Development of North Eastern Region(MoDONER)
and Rajeev Chandrasekhar, Minister of State(MoS) for MSDE in New Delhi, Delhi.
MoE Dharmendra Pradhan & MEA S. Jaishankar jointly launch SII; MoE chose OCI to modernize
DIKSHA
On August 3, 2023, the Union Minister Dharmendra Pradhan, Ministry of Education (MoE), and Union
Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA) jointly launched Study in India
(SII) Portal which is an integrated one-stop solution for international student registration and visa application
process.
• It was launched during an event in New Delhi, Delhi.
• This portal is guided by National Education Policy (NEP).
• This launch is on the lines of the Prime Minister (PM) Narendra Modi’s vision of re-establishing
India as a global hub of education, and preferred education destination.
How will SII Portal be useful?
For international students who wish to study in India, this portal streamlines their registration, visa
application, approval and course selection process through comprehensive information about the Indian
Higher Education Institutions (HEIs).
Aim:
To simplify international students’ academic journey in India
Key Points:
i.It presents information on academic programs covering undergraduate (UG), postgraduate (PG), Doctoral
level programs, and courses in Indian Knowledge System like Yoga, Ayurveda, classical arts etc. along with
academic facilities, research support, and related information.
ii.It also has the provision for students to apply in more than one institute/course of their choice.
About SII Program:
i.It is a Central Government flagship program launched under the aegis of MoE in 2018. It seeks to attract more
international students to India by promoting it as a preferred and affordable study destination with high-
quality education. It aims to improve the overall standard of higher education in the country and facilitate
access to various courses while showcasing academic excellence.
ii.The SII program involves partnership with educational institutes, fulfilling one of the following criteria, to
enrol international students
• National Institutional Ranking Framework (NIRF) ranking (<=100)
PM virtually laid Foundation Stone for Redevelopment of 508 Railway Stations under ABSS
On August 6, 2023, the Prime Minister (PM) Narendra Modi laid the foundation stone for the redevelopment of
508 Railway Stations as Amrit Bharat Stations covering 27 states and Union Territories (UTs) via video
conferencing in New Delhi, Delhi . This redevelopment will be done at a cost of more than Rs
24,470 crores under Amrit Bharat Station Scheme (ABSS).
• Click Here for full list of 508 stations
Highlights:
i.The redevelopment will cover 55 each in Uttar Pradesh (UP) and Rajasthan, 49 in Bihar, 44 in Maharashtra, 37
in West Bengal (WB), 34 in Madhya Pradesh (MP), 32 in Assam, 25 in Odisha, 22 in Punjab, 21 each in Gujarat
and Telangana, 20 in Jharkhand, 18 each in Andhra Pradesh (AP) and Tamil Nadu (TN), 15 in Haryana, 13 in
Karnataka among others.
ii.55 will be developed at the cost of approx Rs 4,000 crores in UP, and Rajasthan, 34 stations in MP at the cost
of approx Rs 1,000 crores, 44 stations in Maharashtra at the cost of 1,500 crores, among others.
What is ABSS?
i.Launched in February 2023, it aims to transform and revitalize 1,309 railway stations across India by
enhancing the overall passenger experience and making them world-class travel hubs. The above 508 stations
are a part of these 1,309 stations.
ii.Under the project, all the stations will be redeveloped as city centers which will led to the overall urban
development of the cities.
• There will be a roof plaza, shopping zone, food court, kids play area, multi-level parking, escalators,
executive lounge, and special facilities for specially abled will also be available in these stations.
iii.To ensure smooth access, there will be widening of roads, removal of unwanted structures, properly
designed signages, dedicated pedestrian pathways, well planned parking areas, improved lighting etc.
iv.A sufficient number of toilets, escalators, more comfortable and durable furniture at waiting halls, and free
Wifi will be created.
v.There will be landscaping/horticulture, integrated passenger information system, signages, improvement of
platforms and platform shelters, benches and washbasins, better illumination and power supply arrangements,
and CCTV (Closed Circuit Television), among other.
vi.The design of the station buildings will be inspired by local culture, heritage and architecture.
Note: The Indian Railways runs over 13,000 trains every day covering 7,325 stations across India.
Recent Related News:
i.Railway Energy Management Company (REMC) Limited, a subsidiary of RITES (Rail India Technical
and Economic Service) Limited, has set up a National Energy Management Centre (NEMC) that has been
established at its office in Delhi.
ii.On 18th May 2023, Prime Minister, Narendra Modi, laid the foundation stone and dedicated to the nation,
several railway projects worth more than Rs 8000 crores in Odisha including Vande Bharat Express between
Puri-Howrah.
About Ministry of Railways:
Union Minister– Ashwini Vaishnaw (Rajya Sabha- Odisha)
Ministers of State– Raosaheb Patil Danve, Darshana Jardosh
MeitY inaugurates Renewable Energy Microgrid Power Plant for rural communities
Alkesh Kumar Sharma, Secretary of the Ministry of Electronics & Information Technology (MeitY) launched the
innovative Technology of a Hybrid Green Energy Microgrid, developed by the Centre for Development of
Advanced Computing (C-DAC) in Thiruvananthapuram, Kerala, as part of the National Mission on Power
Electronics Technology (NaMPET) Program for rural communities’ electrical energy requirements.
• The ceremony took place at the Elephant Rehabilitation Centre (ERC), Kottoor, Thiruvananthapuram
(Kerala). The reliable green energy-based microgrids have emerged as a dependable power source
for critical systems within Veterinary hospital setups in the ERC.
• A renewable energy microgrid is an autonomous, localised, and self-contained energy system that
incorporates renewable energy sources as its primary generation inputs.
• In the microgrid scheme implemented in ERC, a unique 25 kilo Watt Power Conditioning Unit (PCU)
technology, using Silicon Carbide and a Wide Band Gap (WBG) Semiconductor device operating at
50 kilo Hertz and avoiding bulky 50Hz transformer that makes the system very compact and a
container-based deployment in a remote location is realised.
• The initiative and support are provided by the Forest Department of the Government of Kerala for
Green technology evaluation, which is effectively being used in the rehabilitation of wild animals
too.
OTHER NEWS
7 products from Rajasthan, Goa & UP get Geographical Indication tag
Geographical Indications Registry headquartered in Chennai (Tamil Nadu) under the Department of Industry
Promotion and Internal Trade (DIPIT), Ministry of Commerce and Industry (MoCI) has granted Geographical
Indications (GI) tags for 7 new products from 3 states– 4 from Rajasthan, 2 from Goa and 1 from Uttar Pradesh
(UP).
The GI-tagged 7 products are:
State GI Goods
Udaipur Koftgari Metal Craft Handi Craft
Bikaner Kashidakari Craft Handi Craft
Bikaner Usta Kala Craft Handi Craft
Rajasthan Jodhpur Bandhej Craft Handi Craft
Goa Mankur Mango (Malcorado or Mankurad) Agriculture
Goa Goan Bebinca Food Stuffs
Uttar Pradesh Jalesar Metal Craft (Jalesar Dhatu Shilp) Handi Craft
Key Points:
Udaipur Koftgari Metal Craft:
iAs per the documents submitted to the GI Registry, weapons are exquisitely ornamented by a complicated
process.
ii.The process includes etching designs, heating, and then cooling, intertwined with embedding gold and silver
wire into the metal, pressing and flattening it to a smooth surface with a moonstone, and finally polishing it.
ii.Bikaner Kashidakari Craft:
• The craft is traditionally created on cotton, silk, or velvet with a variety of fine stitches and mirror-
work, and the craft finds special places in marriage, and is commonly used for creating gift items.
DPE upgrades the Status of OIL as ‘Maharatna CPSE‘ and OVL as ‘Navratna CPSE‘
On 3rd August 2023, the Department of Public Enterprises (DPE) under the Ministry of Finance, upgraded
the status of 2 oil sector Central Public Sector Enterprises (CPSEs) namely Oil India Limited (OIL) and ONGC
Videsh Ltd (OVL). The status of OIL and OVL has been upgraded to the status
of Maharatna and Navratna CPSEs respectively. Earlier OIL was a ‘Navratna’ CPSE, while OVL was a Categry-
I ‘Miniratna‘ CPSE.
• OIL, the second-largest National Exploration & Production (E&P) Company in India, now will be
the 13th Maharatna amongst the CPSEs.
• OVL, the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited
(ONGC), and the second largest petroleum company of India, now will be 14th Navratna amongst
the CPSEs.
• The new status will help both OIL and OVL, take decisions on large investments on their own, both
within India and abroad.
Note: Both OIL and OVL are under the administrative control of the Ministry of Petroleum and Natural Gas
(MoP&NG), Government of India (GoI).
Maharatna Scheme:
i.The ‘Maharatna’ scheme was introduced for CPSEs, with effect from May 19, 2010.
ii.The objective of the scheme focuses on empowering specific Navratna CPSEs to facilitate the expansion of
their operations and emerge as global giants by increasing their market share both in domestic as well as global
markets.
CDAC and Arm Collaborates to Expand Semiconductor Support Under the DLI
The Centre for Development of Advanced Computing (CDAC) has collaborated with United Kingdom (UK)
based semiconductor IP (Intellectual property) company Arm through the “Arm Flexible Access for Startups”
(AFAS) program to expand semiconductor support under the Design Linked Incentive Scheme (DLI) and foster
the growth of the sector in India during the 2nd day of the conference ‘SemiconIndia 2023’ at Gandhinagar,
Gujarat.
SemiconIndia 2023:
i.The ‘SemiconIndia 2023’ is being organized by India Semiconductor Mission in partnership with industry
associations.
ii.It aims to make India a global hub for Semiconductor Design, Manufacturing and Technology Development
which will help propel the vision of India Semiconductor Mission.
iii.The Conference was inaugurated by Prime Minister(PM), Narendra Modi on 28th July, 2023.
Key points:
i.AFAS program, gives USD $0 license fee access to a broad portfolio of verified Arm IP, tools and training to
startups.
• This helps in broadening its eligibility criteria to welcome applications from startups that qualify
under the Ministry of Electronics and Information Technology’s (MeitY) SemiconIndia
futureDESIGN DLI scheme.
ii.With this partnership, a total of seven startups will work towards producing chip and IP cores for the
automotive, mobility, and computing sectors.
DLI scheme:
The DLI scheme, implemented by CDAC, aims to provide financial incentives and design infrastructure support
for the development and deployment of semiconductor designs for Integrated Circuits (ICs), Chipsets, System
on Chips (SoCs), Systems & IP Cores and semiconductor linked design over a period of five years.
National Mission for Clean Ganga Approves 7 Projects Worth Rs 692 Crore
The National Mission for Clean Ganga(NMCG) approved 7 projects worth Rs 692 crore for the construction of
Sewage Treatment Plants(STP)and other works to prevent pollution of the river Ganga and its tributaries.
• The projects were approved at the 50th meeting of the Executive Committee of NMCG held on 1st
August 2023, under chairmanship of G. Asok Kumar, Director General(DG) of NMCG.
Three Projects in Uttar Pradesh:
Three projects worth Rs. 661.74 crore for sewage management in Uttar Pradesh were authorised at the
meeting.
i.The construction of a 100 Million Litres per Day (MLD) STP in Lucknow, together with Interception and
Diversion (I&D) operations, to be carried out under the Hybrid Annuity Mode(HAD).
ii.The development of a 50 MLD STP in Prayagraj, as well as the I&D of the balance discharge from the
Dariyabad Pipalghat and Dariyabad Kakahraghat drains, has been approved.
• The existing treatment capacity of Naini STP in Prayagraj’s sewerage district-A will be increased to
80 MLD by this project, which will cost around Rs. 186.47 crore.
iii. The project of construction of 6 MLD STP, I&D and other works in Hapur was also approved to stop the flow
of Hapur city drain into River Kali, which is a tributary of River Ganga.
Two Projects in Bihar:
i.To set-up Two STPs (5 and 7 MLDs) at an estimated cost of Rs. 74.64 crore for tapping of Pipra ghat drain and
Chhatiya ghat drain respectively along with I&D works for Raxaul town in Bihar was also approved.
• This project will reduce pollution in the Sirsiya River, which originates in Nepal and enters Bihar at
Raxaul in the East Champaran district.
Urban River Management Plans (URMP)
i.A project worth Rs 20 crore has also been sanctioned for the preparation of 60-70 Urban River Management
Plans (URMPs) in two phases for optimal water management in urban areas.
• During the first year, 25 URMPs shall be prepared and 35 URMPs shall be prepared during the
second year.
India Unveils Ayush Visa Category: For Foreign Nationals seeking Traditional Medicine
Treatment
On August 2, 2023, Ministry of Home Affairs (MHA) introduced a new Ayush (AY) visa for foreign nationals for
treatment under Ayush systems/Indian systems of medicine like therapeutic care, wellness and Yoga.
• With this, a new chapter i.e. chapter 11A – Ayush Visa has been incorporated after Chapter 11 –
Medical visa of the Visa Manual, which deals with treatment under the Indian systems of medicine
and accordingly necessary amendments has been made in various chapters of the Visa Manual,
2019.
• AYUSH is an acronym for Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy.
MoHFW sets deadline for Pharma MSMEs to Adopt Good Manufacturing Practices
On August 2, 2023, the Union Minister Mansukh Mandaviya, Ministry of Health and Family Welfare (MoHFW)
has made it mandatory for all Micro, Small & Medium Enterprises (MSMEs) drugmakers/pharma
companies with an annual turnover of over Rs 250 crore to adopt Good Manufacturing Practices (GMP)
within six months starting August 1, 2023.
• Companies with a turnover of less than Rs 250 crore can complete the process in 1 year.
• The adoption will be made by implementing the revised Schedule M of the Drugs and Cosmetics Act,
1940. It should be noted that World Health Organisation (WHO)-GMP standards are now a part of
the revised Schedule M.
• Drugmakers, who fails to follow the timeline, will be penalized.
Reason behind this implementation:
This decision has been taken for the proper implementation of the Schedule M of the Drugs and Cosmetics Act,
1940 which has not been implemented accurately by the majority of the drugmakers.
Background:
Officials inspecting 162 units and 14 public testing labs discovered significant issues like poor documentation,
lack of validation, infrastructural deficiencies, unqualified employees, and faulty design. This resulted in a
review of the current Schedule M’s principles and GMP concepts to align with global standards. The Drug
Technical Advisory Committee also recommended this to improve documentation, failure investigation, and
technical expertise for better compliance.
Key Changes:
The major changes that will happen with the introduction of a revised Schedule M to support upgradation of
the units are:
• Introduction of Pharmaceutical Quality System (PQS)
• Quality Risk Management (QRM)
• Product Quality Review (PQR)
• Qualification and validation of equipment, change control management, self-inspection and quality
audit team, suppliers audit and approval, stability studies as per recommended climate condition,
validation of GMP related computerised system, specific requirements for manufacturing of
hazardous products, biological products, radiopharmaceutical and phytopharmaceuticals.
What is Schedule M of the Drugs and Cosmetics Act, 1940?
It regulates GMP and quality management systems followed by pharmaceutical manufacturing units, including
specific requirements pertaining to premises, plant and equipment.
NHA extends DHIS for hospitals under Ayushman Bharat Till Dec 31, 2023
On August 4, 2023, the National Health Authority (NHA) extended its Digital Health Incentives Scheme (DHIS)
under the Ayushman Bharat Digital Mission (ABDM) till the 31st of December, 2023.
About DHIS:
Launched w.e.f. January 1, 2023, DHIS offers incentives of upto Rs 4 crores to hospitals and diagnostic labs and
Digital Solution Companies (DSCs) such as Hospital/ Health Management Information System (HMIS) and
Laboratory Management Information System (LMIS) for adopting and enabling transformative digitization
under ABDM.
Key Points:
i.For availing incentives the health facilities and DSCs should be registered with the ABDM’s Health Facility
Registry (HFR) and should fulfil the eligibility criterion specified under the scheme.
ii.The incentives are based on the number of digital health records created and linked to Ayushman Bharat
Health Account (ABHA) numbers of the patients.
iii.As of date, 1 205 health facilities have registered under this scheme with 567 public and 638 private
hospitals. out of the 25 digital solution companies registered, 22 are from the private sector.
iv.Till June 2023, close to 120 health facilities and 7 health tech companies have received incentives totalling to
Rs. 4.84 Cr.
v.The scheme is continuously monitored by NHS for its effectiveness.
India hands over Rs.450 million to Sri Lanka to fund its SL-UDI Project
On 4th August 2023, India handed over a cheque of Rs.450 million in advance to Sri Lanka, for supporting the
Sri Lanka Unique Digital Identity (SL-UDI) project, which is expected to strengthen Sri Lanka’s digital
infrastructure and promote growth across various sectors.
• The project supported by the Indian government is seen as a significant milestone in Sri Lanka’s
path to economic recovery.
• With this move, Sri Lanka is paving the way for a more technologically advanced future, anticipating
substantial economic development and prosperity.
• The initiative comes under the objective of India’s ‘Neighbourhood First’ policy, which demonstrates
its commitment of India to assist its neighbouring countries in the South Asian region for mutual
cooperation and support.
India’s Unemployment Rate Declines to 7.95% in July 2023 due to Rise in Agricultural Labour
Demand
According to the recent data released by the Centre for Monitoring Indian Economy Pvt.Ltd. (CMIE), the
unemployment rate of India in July 2023 fell to 7.95% from 8.45% in June 2023. This decline is due to the
increased demand for agricultural labour in rural areas, as the monsoon season has begun.
• However, in July 2023, the demand for labour in the rural non-agriculture sector declined, leading to
a decrease in the number of rural workers seeking employment, consequently affecting the rural
employment rate.
• The rural unemployment rate also declined to 7.89% in July 2023, from 8.73% in June 2023, while
the urban unemployment rate slightly increased to 8.06% from 7.87% in the same period.
• Data indicates that the labour force in rural India has decreased by 5 million. The labour force
participation rate in urban areas has also seen a decline. This indicates that the issue extends
beyond rural regions and reflects a broader weakness in the Indian economy.
Note: In an effort to address rising unemployment dissatisfaction, the government is distributing appointment
letters as part of a promise to provide 1 million government jobs by the end of 2023.
Drone Manufacturer Dhaksha Wins Contract from Indian Army for supply of 200 Drones,
Accessories
Chennai (Tamil Nadu) based Drone Manufacturer, Dhaksha Unmanned Systems Pvt. Ltd(DUMS), a subsidiary of
Coromandel International Limited, an Agri-solutions provider, has bagged an order worth Rs 165 crore to
supply 200 medium-altitude logistics drones, and accessories to the Indian Army.
• Recently, DUMS has also won a contract from the Indian Farmers Fertiliser Cooperative (IFFCO),
agri inputs cooperative, to supply 400 agri-spraying drones.
• These two orders are set to be delivered within the next 12 months.
Note: Additionally, the DUMS‘ strong order pipeline further increases the potential for increased revenues for
the ongoing year.
Key Points:
i.DUMS has been selected by the Indian Army to supply its logistics drones. The company is committed to
building the latest technologies for drone manufacturing and serving to requirements of the defense sector as
well as the farming community of India.
ii.The defense contract serves as a huge validation of Dhaksha’s technology capability and it recognises the
company’s ability to capture opportunities in Unmanned Aerial Systems (UAS) space.
iii.The agri-spraying drones are designed to assist farmers in optimising crop management practices by
providing precise and targeted spraying of fertilisers and pesticides.
iv.DUMS has a technology collaboration with Anna University, Chennai (Tamil Nadu) and is the 1st company in
India to obtain the Directorate General of Civil Aviation DGCA Type Certification for the commercial sale of
drone for 3 different drone models (Agri – Hybrid, Agri – Electric, and Surveillance drones).
CBI Academy Joins Interpol Global Academy Network as its 10th Member
On 8th August 2023, the Central Bureau of Investigation (CBI) Academy, based in Ghaziabad, Uttar Pradesh
joined the International Criminal Police Organization (INTERPOL) Global Academy Network as its 10th
member through a virtual signing ceremony organized between CBI and Interpol at Global Complex for
Innovation, Singapore for development and delivery of joint training program and research projects.
• A letter of acceptance was signed by Deputy Inspector General(DIG) (Training) Mohit Gupta of the
CBI Academy with Glenn Martindale, Director, Capacity Building and Training Directorate, Interpol
in consultation with India’s Union Home Ministry, External Affairs Ministry and the Department of
Personnel and Training.
INTERPOL Global Academy Network:
i.Established in 2019, the INTERPOL Global Academy Network is under the leadership of INTERPOL’s
Capacity Building and Training Directorate. Its primary goal is to spearhead a worldwide strategy for law
enforcement training.
ii.The Network has members in all regions and supports academic collaboration amongst Law Enforcement
Training Institutions across the globe.
iii.The INTERPOL Global Academy currently has 10 members: Abu Dhabi, Argentina, Austria, Botswana,
Colombia, India, Korea, Rwanda, Saudi Arabia and Spain.
Central Bureau of Investigation (CBI):
i.The CBI is a premier training institution in the fields of crime investigation, prosecution and vigilance
functioning.
ii.It is the National Central Bureau of Interpol for India as well as a Nodal Agency for Transnational Organised
Crimes, Anti-Corruption Crimes, Bank Fraud Cases and Cyber Crimes.
Director – Praveen Sood
Established in – 1963
Headquarters – New Delhi,Delhi
Maharashtra’s New Amravati station Becomes Central Railway’s 3rd Pink Station
New Amravati Railway Station (Amaravti, Maharashtra) became the 3rd station within Central Railway(CR)
and the 1st station in Bhusaval Division of CR to be designated as a Pink Station, fully managed by women staff.
• Central Railway became the first zone of the Indian Railways to set up all women managed station.
• Matunga suburban station in Mumbai division became the 1st railway station in India to be operated
by an all-woman staff in July 2017, followed by Ajni station in the Nagpur division in 2018.
About New Amravati station:
i.The New Amravati station has a staff strength of 12 women employees – 4 Deputy Station Superintendents, 4
Pointswomen, 3 Railway Protection Personnel and 1 Station Ticket Booking Agent.
ii.The station has a daily footfall of approximately 380 passengers and operates 10 trains.
Ministry of Railways approves closure of BRPL
The Ministry of Railways has granted in-principle approval for the closure of ‘Bastar Railway Private
Limited (BRPL), a joint venture(JV) of NMDC Limited , IRCON International Ltd., Steel Authority of India
Ltd.(SAIL) and Chhattisgarh Mineral Development Corporation Ltd. (CMDC).
• The closure involved the transfer of assets and liabilities of BRPL to the Ministry of Railways.
About Bastar Railway Private Limited (BRPL):
BRPL was established as a project-specific JV company in 2016 for developing the 140-kilometer rail line
project from Rowghat to Jagdalpur in Chhattisgarh.
• BRPL is still in the construction phase and has yet to generate revenue.
Shareholdings:
• 26% – IRCON International Limited is a Government of India Undertaking company under the
Ministry of Railways.
• 12% – SAIL is a Maharatna Public Sector Enterprise (PSE) under the Ministry of Steel.
• 10% – CMDC is a Government of Chhattisgarh undertaking company.
52% – NMDC Limited, formerly National Mineral Development Corporation, is a Navratna PSE under the
Ministry of Steel.
MoD Signs to Acquire Five Indigenously Built FSS from HSL Worthing 19,000 Crore
Approved by the Cabinet Committee on Security, The Ministry of Defence has signed a contract with Hindustan
Shipyard Limited (HSL), Visakhapatnam (Andhra Pradesh) for the acquisition of five indigenously built Fleet
Support Ships (FSS) for the Indian Navy worth 19,000 crore (approximately).
About The Fleet Support Ships (FSS):
• The FSS will be built with a length of 225 metres and a width of 32 metres and will have a
displacement of 44,000 tonnes.
• It will be deployed for restocking ships at sea with fuel, water, ammunition and stores
• These ships can also be deployed for evacuation of people and human assistance and disaster
relief (HADR) operations.
• The Fleet Support Ships (FSS) that are signed will carry a cargo of almost 25,000 tonnes
• These vessels is a flag bearer of ‘Aatmanirbhar Bharat’ in harmoniousness with the ‘Make in India’
initiatives.
• Construction of these ships encourage small and medium-sized enterprises to participate in
production process.
• The 44,000-tonnes FSS will be the first of its kind to be constructed in India by an Indian
Shipyard and will be successfully delivered in eight years.
About Ministry of Defence:
Union Minister – Raj Nath Singh (Lucknow, Uttar Pradesh)
Minister of States(MoS) – Ajay Bhatt (Nainital-Udhamsingh Nagar, Uttarakhand)
Nehru Memorial Museum Has Been Renamed as The Prime Ministers’ Museum
The Nehru Memorial Museum and Library (NMML) has officially been renamed as the Prime Ministers’
Museum and Library (PMML) Society with effective from August 14, 2023.It is located within the Teen Murti
House complex at New Delhi, Delhi.This institution operates independently under the India Ministry of Culture.
• It was established in 1964 after the death of India’s first prime minister, Jawaharlal Nehru who had
spent his lifetime in his official residence for 16 years until his demise on May 27,1964.
• This renaming reflects motive of expanding the society’s focus beyond its previous associations
to Jawaharlal Nehru and aims to foster a more comprehensive understanding of all the prime
ministers of India and their invaluable contributions to the nation.
• The decision to change the name was taken in June 2023 in a meeting of the NMML Society. It was
chaired by Defence Minister Rajnath Singh, who is the vice president of the society. This project
was approved by Executive Council, NMML in its 162nd meeting held in November 2016.
• Shri Nripendra Misra is the chairman of the Executive council of the Nehru Memorial Museum and
Library (NMML)
Note – Prime Minister Narendra Modi inaugurated the Pradhanmantri Sangrahalaya in April 2022, stands as
a homage to every prime minister of the Republic of India post-Independence, encapsulating their individual
contributions to our nation’s progress during the past 75 years.
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).
• 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.
RGICL has been Awarded the Contract for Implementing MHIS & PMJAY in Meghalaya
On 8th August 2023, Reliance General Insurance Company Ltd (RGICL) signed a contract with the Department
of Health and Family Welfare, Government of Meghalaya for the implementation of the Megha Health
Insurance Scheme (MHIS) and the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)-Phase
6 in Meghalaya.
• RGICL emerged as the successful bidder to implement a revised MHIS 6 scheme in convergence with
PMJAY, providing an insurance cover of Rs 5.3 lakhs for all eligible beneficiaries on a family floater
basis.
• Meghalaya has decided to review the health benefit packages and other terms in insurance contract
of MHIS 6. This will cover more than 7 lakh families in Meghalaya and provide them health
Telangana launched India’s 1st Agricultural Data Exchange platform and ADMF
K Taraka Rama Rao, Cabinet Minister for Information Technology, Electronics & Communications (IT, E&C),
Telangana, launched India’s first Agricultural Data Exchange (ADeX) and Agriculture Data Management
Framework (ADMF) in Hyderabad, Telangana. The ADeX has been developed as a Digital Public Infrastructure
(DPI) for the agriculture sector.
• ADeX is a collaboration between the Telangana Government, the World Economic Forum (WEF), and
the Indian Institute of Science (IISc) Banglore(Bengaluru, Karnataka).
Union Minister Nitin Gadkari inaugurates Multi-Level Flyover in Pune & launches One Pune
Card
The Union Minister Nitin Gadkari, Ministry of Road Transport and Highways (MoRTH) inaugurated Rs 865
crore multi-level flyover built at Chandni Chowk in Pune, Maharashtra.
• This bridge with a total length of 16.98 km will address traffic congestion in the city.
• The internal and external service roads have been aligned with Mumbai-Bengaluru National
Highway
One Pune Card launched for Pune Metro users
On August 12, 2023, the Maharashtra Metro Rail Corporation Limited (Maha-Metro) unveiled a multi-purpose
“One Pune Card” for metro travel. The card can also be used for retail payments across India. It was
inaugurated by the Union Minister Nitin Gadkari.
Key Points:
i.The first 5,000 passengers will get the card free of cost and others will have to pay Rs 150 + 18% tax.
ii.One Pune Card follows the norms of the National Common Mobility Card (NCMC) and can be used in any
other metro and bus services in India.
iii.The card is on the Indian Payments (RuPay) framework and adheres to the guidelines set by the Government
of India for NCMC.
• For transactions up to Rs 5,000, no PIN is required.
iv.The event attended by Maharashtra Deputy Chief Ministers (CMs) Ajit Pawar and Devendra Fadnavis, Maha-
Metro managing director Shravan Hardikar and others.
Assam Cabinet Launches MODI Scheme to Reward the Cleanest District of Assam
On 25th August 2023, the Assam cabinet in its 100th meeting chaired by Himanta Biswa Sarma, Chief
Minister(CM) of Assam, launched called MODI (Most Outstanding District Initiative), to reward the cleanest
district.
• This Clean district drive will boost solid waste management and sanitation.
• The detailed guidelines of the initiative will be issued during the Conference of District
commissioners which will be held on 27th August 2023.
Key Points:
i.The most outstanding district will be awarded Rs 100 crore towards infrastructure development and the
results will be declared by the first week of April 2024.
ii.The districts will be assessed on 108 parameters including cleanliness, legacy waste disposal, and maximum
coverage of clean drinking water before being given the cleanest tag.
iii.MODI is a new effort to motivate comprehensive cleanliness at the district level and the detailed guidelines
were issued at the conference of district commissioners.
New Districts:
i.Additionally, the cabinet has decided to create 4 new districts . These districts were abolished on December
31 2022. The new districts include Hojai, Biswanath, Tamulpur and Bajali.
ii.Assam CM also stated that 24 sub divisions will be abolished and 81 sub districts will be created.
Installation of CCTVs:
i.The cabinet also approved the installation of 2,000 Closed Circuit Television (CCTV) cameras across Guwahati
to implement a citizen-friendly, holistic, integrated, and responsive Intelligent City Surveillance System.
ii.This initiative aims to improve safety, increase productivity, ensure enforcement, and effective and
preventive policing through integration with existing Intelligent Traffic Management System (ITMS), etc.
Semiconductor Hub:
i.The cabinet approved the Assam Electronics (Semiconductor, etc.) Policy, 2023 with the aim to establish
Assam as a hub of semiconductor manufacturing and electronics production.
ii.The key benefits of the policy include attracting semiconductor fabrication and design investment, job
creation, ecosystem development, market resilience, export growth, and revenue generation for Assam.
iii.Policy benefits extend to all new units within the ‘Semiconductor Manufacturing’ sector, and eligible
industrial units are also covered.
iv.The policy allows for phase-wise commissioning of the total approved plant capacity. Micro-small-medium-
enterprises (MSMEs) have a three-year limit for this, while large industries get 5 years from the date of the first
fixed capital investment.
About Assam:
Chief Minister– Himanta Biswa Sarma
Governor– Gulab Chand Kataria
Stadium– Dr. Bhupen Hazarika Cricket Stadium (Outdoor) and Nehru Stadium (Outdoor)
Iraq becomes 18th country recognised by WHO for eliminating Trachoma as a Public Health
Problem
On July 31, 2023, Iraq becomes the 18th country recognized by the World Health Organization (WHO) for
eliminating trachoma as a public health problem. It is also the 5th country in WHO’s Eastern Mediterranean
Region to achieve this feat. It is also acknowledged by the WHO as the 50th country for eliminating at least
one Neglected Tropical Disease (NTD), globally.
• This represents reaching the halfway mark to the 100-country target set for 2030 in the 2021–2030
NTD road map that targets the prevention, control elimination and eradication of 20 diseases and
disease groups.
Efforts by Iraq in eliminating trachoma:
i.In 2012, Iraq launched its national trachoma program to eradicate the disease. They developed a surveillance
system to detect and manage cases in eye care facilities, schools, and collaboration with the Ministry of
Education. Thousands of healthcare staff, including refractionists, optometrists, ophthalmologists, and eye
surgeons, contributed to these efforts.
ii.Post-elimination, Iraq and WHO will continue to closely monitor previously endemic areas to detect and if
necessary, combat any resurgence of disease.
About Trachoma:
i.It is a contagious bacterial eye infection caused by bacterium Chlamydia trachomatis. It primarily affects the
surface of the eye and the inside of the eyelid.
UNDP Creates National Carbon Registry to Assist Nations in Achieving Climate Targets
United Nations Development Programme (UNDP) developed an open-source software called ‘National
Carbon Registry’.This software enables countries to effectively manage national data and processes for trading
carbon credits.
• The software has recently been accredited as a digital public good (DPG).As a DPG,the registry utilizes
open-source programming, allowing countries to reproduce and change the information to their own
requirements and contexts.
About National Carbon Registry:
i.The registry follows national and international best practices based on inputs from countries and is a result of
ongoing work by the Digital4Climate (D4C) Working Group.
• D4C includes UNDP, the World Bank, the United Nations Framework Convention on Climate Change
(UNFCCC) and the European Bank for Reconstruction and Development (EBRD) among others.
ii.It is designed to be an interoperable digital system that can be combined with national measurement,
reporting, and verification (MRV) systems as well as international digital systems such as UNDP’s voluntary
cooperation platform and the World Bank’s global platform Climate Action Data Trust (CAD Trust).
• As a result of this programme, there will be a greater collection of digital public infrastructure to address
climate challenges.
VISITS
INDIAN VISITS
Overview of PM Narendra Modi’s visit to Pune, Maharashtra
Prime Minister(PM) Narendra Modi visited Pune, Maharashtra on 1st August 2023. He flagged off the Pune
metro trains and inaugurated and laid the foundation stone of various development projects.
• He was also conferred with the Lokmanya Tilak National Award 2023.
PM Modi conferred with Lokmanya Tilak National Award
i.PM Narendra Modi was conferred the Lokmanya Tilak National Award 2023 by the Tilak Smarak Mandir
Trust, which comes with a memento and citation, in appreciation for his exceptional leadership and his work
promoting patriotism among citizens.
• It comes up with a memento, citation and cash reward of Rs 1 lakh.
• He decided to donate the award money of Rs 1 lakh to the National Mission for Clean Ganga.
ii.The award was constituted by the Tilak Smarak Mandir Trust in 1983 to honour the legacy of Lokmanya Tilak
on August 1 every year, to mark the death anniversary of Bal Gangadhar Tilak.
iii.The award is conferred upon those who have worked towards the development and upliftment of the nation
and who have left a significant impact on the progress of the country.
iv.He was the 41st recipient of this award. The former recipients of the award include eminent personalities
like Pranab Mukherjee, Atal Bihari Vajpayee, Indira Gandhi, Manmohan Singh, NR Narayana Murthy, and E
Sreedharan, among others.
Note:
In 2022, Tessy Thomas, popularly known as India’s missile woman was conferred the Lokmanya Tilak National
Award.
About Bal Gangadhar Tilak:
i.Bal Gangadhar Tilak born on 23th July 1856 in Ratnagiri, Maharashtra and died on 1st August 1920.
ii.He has earned titles include ‘Lokmanya Tilak’(Beloved Leader of the People), ‘The father of Indian unrest’,
‘The Maker of Modern India’.
iii.Tilak’s famous slogan was ‘Swarajya is my birthright and I shall have it’.
iv.He founded the Indian Home Rule League in 1914 and participated in various indian freedom movements.
v.His notable books include ‘Gita Rahasya’ and the ‘Arctic home of the Vedas’.
Home Minister Amit Shah’s 2 day visit to Gujarat; Inaugurates projects worth Rs 1052 cr
Amit Shah, Union Minister, Ministry of Home Affairs and Ministry of Cooperation (MHA), during his 2 days visit
to Gujarat on 12th and 13th of August 2023, inaugurated various development works worth Rs.1052 crore in
the Gandhinagar Lok Sabha constituency, Gujarat.
• The development works were jointly done by the
Government of India (GoI) and the Government of Gujarat.
Development works:
• Began the renovation work of Revabai General Hospital.
• Laid the foundation stone for the new six-floor building of
Seth N.N. Patel Public College of Gujarat and began the
works for rebuilding of the entire hospital.
• Laid the foundation stone for the widening of 4 lane road
from Randheja to Balwa in Gandhinagar, Gujarat.
Key People:
Many dignitaries including Bhupendra Patel, Chief Minister of Gujarat also participated in the event.
President Droupadi Murmu visit WB; Inaugurated INS Vindhyagiri & ‘My Bengal, Addiction-
Free Bengal’ campaign
On 17th August 2023, Droupadi Murmu, President of India, visited West Bengal(WB). This mark’s her 2nd
visit to West Bengal as President of India.
• During her 1-day visit to Kolkata, WB, she launched the ‘My Bengal, Addiction Free Bengal’
Campaign and INS (Indian Naval Ship) ‘Vindhyagiri‘(Y – 3024), a Project 17A Frigate (Shivalik
Class).
FOREIGN VISITS
Highlights of PM Narendra Modi visit to SA for 15th BRICS Summit; BRICS officially expands
from 5 to 11 members
The Prime Minister (PM) of India Narendra Modi visited Johannesburg, South Africa (SA) from August 22-24,
2023 to attend the 3 day annual 15th BRICS (Brazil, Russia, India, China, and South Africa) Summit 2023 at the
invitation of Matamela Cyril Ramaphosa, President of SA.
• It should be noted that, the SA President Cyril Ramaphosa is the Chair of 15th BRICS Summit.
Overview of PM Modi Visit to Greece: Modi Honoured with Grecee’s Grand Cross of the Order of
Honour
Prime Minister (PM) of India Narendra Modi embarked on a one-day visit to Greece on 25th August 2023 at the
invitation of Kyriakos Mitsotakis, Prime Minister (PM) of Greece.PM
Modi’s visit to Greece marks the first visit of an Indian Prime
Minister to Greece in 40 years.
Note: Indira Gandhi was the last Indian Prime Minister to visit
Greece. She travelled to Greece in September 1983.
Overview:
i.Modi arrived at Athens, the Capital of Greece, on 25th August 2023
and he was received by Greek foreign minister George Gerapetritis.
ii.He paid tributes at the ‘Tomb of Unknown Soldier’, a war
memorial dedicated to the Greek soldiers killed during various wars, in Athens, Greece.
iii.PM Modi and Katerina Sakellaroupoulou, President of Greece discussed various issues including ways to
strengthen the India-Greece friendship and to increase sustainable development.
The Grand Cross of the Order of Honour:
Katerina Sakellaropoulou, President of Greece honoured PM Narendra Modi with The Grand Cross of the
Order of Honour. He became the first Indian PM to receive the honours.
• He is also the 1st foreign head of government to be awarded the honour since 2017.
• The Order of Honour, established in 1975, is the second-highest civilian honour in Greece.
Category Rate
Standing Deposit
6.25%
Facility (SDF) Rate
Marginal Standing
6.75%
Facility (MSF) Rate
Cash Reserve
4.50%
Ratio (CRR)
Statutory Liquidity
18%
Ratio (SLR)
Inflation:
i.Consumer Price Index (CPI) inflation or retail inflation is projected at 5.4% for FY24 from the 5.1% forecast
in June 2023.The projections for specific quarters of FY24 are Q2 at 6.2%, Q3 at 5.7%, and Q4 at 5.2%.
• This forecast is on the assumption of normal monsoon.
ii.CPI inflation for Q1FY25 is projected at 5.2%.
RBI approves Amalgamation of Navanirman Co-op Urban Bank with Rajadhani Co-op Urban
Bank
The Reserve Bank of India (RBI) sanctioned the Scheme of Amalgamation of The Navanirman Co-operative
Urban Bank Ltd., Hyderabad, Telangana with Rajadhani Co-op. Urban Bank Ltd., Hyderabad, Telangana. The
Scheme of Amalgamation is with effect from August 3rd, 2023.
• The Navanirman Co-operative Urban Bank Ltd branch (Hyderabad, Telangana) will function as a
branch of the Rajadhani Co-op. Urban Bank Ltd (Hyderabad, Telangana) with effect from August 03,
2023.
• The Scheme has been sanctioned in the exercise of the powers conferred under Sub-Section (4) of
Section 44A read with Section 56 of the Banking Regulation Act, 1949.
Key Points:
i.Banking Regulation Act, 1949 an Act that provides a framework for regulating the banks of India.
ii.The Act was originally passed as the Banking Companies Act 1949 and came into force on 16th March 1949.
iii.This Act gives RBI the power to control the banks in India. It did not apply to Jammu and Kashmir until
1956.
iv.The Banking Regulation (Amendment) Ordinance, 2020 was promulgated on June 26, 2020. The Ordinance
seeks to amend the Banking Regulation Act, 1949.
About Reserve Bank of India (RBI):
Governor– Shaktikanta Das
Deputy Governors – J. Swaminathan, T. Rabi Sankar, M. Rajeshwar Rao, Dr. M.D. Patra
Headquarters– Mumbai, Maharashtra
Established in– 1st April 1935
RBI selects McKinsey and Accenture to use AI & ML To Improve Regulatory Supervision
Reserve Bank of India(RBI) awarded the contract worth Rs. 91 Crores to McKinsey and Company India LLP
(Limited Liable Partnership) and Accenture Solutions Private Limited India for the use of advanced
analytics, artificial intelligence(AI) and machine learning(ML) to analyse its huge database and improve
regulatory supervision over banks and Non Banking Financial Services(NBFCs).
• AI and ML technologies are used for real-time data reporting, effective data management and
dissemination.
Background:
In September 2022, Expressions of Interest (EoI) were sought by the RBI with regards to the engagement of
consultants specialising in advanced analytics, artificial intelligence, and machine learning.
• RBI has shortlisted seven applicants for participation in the Request For Proposal (RFP). Out of
which only two firms were selected.
Department of Supervision:
• The Department of Supervision in RBI is developing and using linear and a few machine-learnt
models for supervisory examinations.
• It carries out the responsibility of overseeing all scheduled commercial banks (excluding Regional
Rural Banks), Local Area Banks, Payments Banks, Small Finance Banks, Credit Information
Companies, Primary Urban Cooperative Banks, NBFCs, Asset Reconstruction Companies, Factoring
companies, and All India Financial Institutions (AIFIs).
RBI Launches Pilot ‘Public Tech Platform for Frictionless Credit; Unveils 'UDGAM' Portal for
Unclaimed Deposits
On August 17, 2023, the Reserve Bank of India (RBI) commenced its digital lending pilot project for Public
Tech Platform for Frictionless Credit which is developed by Reserve Bank Innovation Hub (RBIH), a wholly
owned subsidiary of RBI.
Note: RBI announced the development of the public tech platform as a part of the Statement on Developmental
and Regulatory Policies released on August 10, 2023.
Purpose of the Public Tech Platform for frictionless credit:
The Public Tech Platform aims to streamline the credit provision process by effortlessly transmitting crucial
digital data to lenders. It features an open architecture with open Application Programming Interfaces (APIs)
and standards, enabling seamless connectivity for all financial sector participants in a ‘plug and play’ model.
• It enhances lending efficiency through cost reduction, quicker disbursement, and scalability.
How does the Public Tech Platform facilitate loan processing and disbursement?
Lenders usually require diverse data sets for credit approval, sourced from entities like governments, banks,
and credit bureaus. This process causes delays in rule-based lending. To address this, RBI has introduced this
public tech platform enabling lenders to easily access digital data, ensuring smoother credit facilitation and
reducing the time it takes to process loans.
The Pilot Phase:
i.During the pilot phase, the platform concentrates on products including Kisan Credit Card (KCC) loans up
to Rs 1.6 lakh per borrower, Dairy Loans, unsecured MSME (Micro, Small, and Medium Enterprises) loans,
Personal loans, and Home loans.
ii.It integrates services like Aadhaar e-KYC (Know Your Customer), land records from onboarded State
Governments (Madhya Pradesh, Tamil Nadu, Karnataka, Uttar Pradesh, and Maharashtra), satellite data, PAN
validation, etc.
iii.Axis Bank announced its participation, offering KCC and unsecured MSME loans through this platform, with
plans to expand based on lessons learned from the pilot.
• As a pilot, bank will offer KCC in MP and will be available to customers for upto Rs. 1.6 lakh to start
with. MSME loans will be available India and will offer loans upto Rs. 10 lakh to customers.
RBI launches centralised web portal ‘UDGAM’ for Unclaimed Deposits
RBI Governor Shaktikanta Das introduced a centralized web portal
called “उद्गम UDGAM” (Unclaimed Deposits – Gateway to Access inforMation) to simplify the process for the
public to locate their unclaimed deposits in various banks through a single platform.
• Through this portal, users can retrieve unclaimed deposit amounts or make their deposit accounts
operative with their respective banks.
Note: This centralised web portal was announced as a part of the Statement on Developmental and Regulatory
Policies dated April 06, 2023.
Developers:
Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS)
and participating banks have collaborated to develop this portal.
Key Points:
i.Currently, users will access the details of their unclaimed deposits in respect of seven banks presently
available on the portal viz. State Bank of India (SBI), Punjab National Bank (PNB), Central Bank of India (CBI),
Dhanlaxmi Bank Ltd., South Indian Bank Ltd., DBS Bank India Ltd., Citibank N.A.
ii.The search facility for remaining banks on the portal will be made available in a phased manner by October
15, 2023.
Bank credit growth to MSMEs decelerates in Q1FY24: RBI issues new Guidelines for Fair
Lending Practices
According to the Reserve Bank of India (RBI) data, Bank credit growth to Micro, Small and Medium Enterprises
(MSMEs) has decelerated on a year-on-year (y-o-y) basis in the first three months (April-June) of the FY24 i.e.
Q1FY24.
• Banks’ cautious attitude towards risk makes them hesitant to provide loans to small units, leading to
a deceleration in bank credit growth.
Key Points:
i.Credit to medium industries grew by 13.2% in June (compared to 47.8% in June 2022).
ii.Micro and small industries experienced a 13% credit growth in June (compared to 29.2% in June 2022).
iii.Gross bank credit outstanding to medium industries at Q1FY24 end was Rs 2,63,440 crore (up from Rs
2,32,776 crore in June 2022).
iv.Credit outstanding for micro and small industries in June was Rs 6,25,625 crore (compared to Rs 5,53,675
crore in June 2022).
v.May 2023 saw credit growth of 18.9% for medium industries (compared to 42.9% in May 2022 ) and 9.5% for
micro and small industries (versus 32.7% in May 2022).
April’s loan growth for medium industries was 19.1% (compared to 53.7% last year).
vi.Growth for micro and small industries was 9.7% in April 2023 (down from 29.8% in April 2022).
The Expert Committee on MSME, constituted by RBI in December 2018, has estimated the overall credit gap in
the MSME sector to be in the range of Rs 20 to Rs 25 lakh crore.
RBI issues new guidelines for Fair Lending Practices
RBI has issued comprehensive guidelines to the Regulated Entities (REs) regarding penal charges in loan
accounts to ensure fairness, transparency, and accountability in the lending practices of financial institutions.
These will come into effect from January 1, 2024.
• RBI issued these instructions under sections 21, 35A and 56 of the Banking Regulation (BR) Act,
1949, sections 45JA, 45L and 45M of the RBI Act, 1934, and section 30A of the National Housing
Bank (NHB) Act, 1987
Applicability of Guidelines:
These guidelines are applicable across various financial entities, including commercial banks (including Small
Finance Banks, Local Area Banks, and Regional Rural Banks), Primary (Urban) Co-operative Banks, Non-
Banking Financial Companies (NBFCs), and All India Financial Institutions.
• These will not apply to Credit Cards, External Commercial Borrowings, Trade Credits and Structured
Obligations which are covered under product specific directions.
Motivation behind the Initiative:
This action is part of RBI’s ongoing commitment to ensuring fair treatment of borrowers and addressing
customer complaints regarding the imposition of penal charges.
RBI releases guidelines for IDF-NBFC; ResetsFloating Interest Rate on EMI based Personal
Loans
The Reserve Bank of India (RBI), in consultation with the Government of India (GoI), has reviewed guidelines
for Infrastructure Debt Fund-Non-Banking Financial Companies (IDF-NBFCs) to enhance their role in
infrastructure financing and align regulations across NBFCs in this sector.
• The updated regulations for IDF-NBFCs will be effective from August 18, 2023.
What is IDF?
An IDF can be established either as a trust or a company. If structured as a trust, it is designated as an IDF-
Mutual Fund (IDF-MF) and is regulated by Securities and Exchange Board of India (SEBI). If established as a
company, it’s labeled as an IDF-NBFC and is subject to regulation by RBI.
An IDF-NBFC means a non-deposit taking NBFC which is authorized to the following:
i.Refinance post Commencement Operations Date (COD) infrastructure projects that have completed at least
one year of satisfactory commercial operations
ii.Finance toll operate transfer (TOT) projects as the direct lender.
Revised IDF-NBFC Regulations: Key Points
i.Capital Requirements:
IDF-NBFCs must maintain a Net Owned Fund (NOF) of at least Rs 300 crore.
• Minimum Capital-to-Risk Weighted Assets Ratio (CRAR) of 15%, with Tier 1 capital of at least 10%.
ii.Fundraising:
IDF-NBFCs can issue rupee or dollar-denominated bonds with a minimum maturity of five years.
• They can also raise funds through shorter tenor bonds and commercial papers (CPs) up to 10% of
total borrowings for better asset-liability management.
• Fundraising allowed through external commercial borrowings (ECBs) with a minimum tenor of five
years, avoiding sourcing from foreign branches of Indian banks. For ECBs, adherence needed to
RBI’s Foreign Exchange Department guidelines.
RBI approves the Voluntary amalgamation of Twin Cities Co-operative Urban Bank with Kranti Co-
operative Urban Bank
The Reserve Bank of India(RBI) sanctioned the Scheme of Voluntary Amalgamation of Hyderabad (Telangana)
based Twin Cities Co-operative Urban Bank Limited with Hyderabad (Telangana) based Kranti Co-
operative Urban Bank Limited.
• RBI has the authority to approve the voluntary amalgamation of Urban Cooperative Banks (UCBs) based
on its discretion.
• This authority is granted under Sub-Section (4) of Section 44A read with Section 56 of the Banking
Regulation Act, 1949.
• These sections were modified through an amendment introduced by the Banking Regulation
(Amendment) Act 2020 (Act No. 39 of 2020).
After Amalgamation:
i.The Scheme of Amalgamation came into force from 23rd August, 2023.
ii.The branch of Twin Cities Co-operative Urban Bank will function as a branch of Kranti Co-operative Urban
Bank.
About Amalgamation guidelines:
i.The Amalgamation was based on comprehensive framework notification of RBI released in 2021,
named Master Direction – Amalgamation of Urban Cooperative Banks, Directions, 2020.
ii.As per the framework in 2021, RBI may consider proposals for merger or amalgamation of urban cooperative
banks (UCBs) under three circumstances.
Three Circumstances for amalgamation:
i.Positive net worth of amalgamated bank; amalgamating bank assures to protect entire deposits of the
amalgamated bank.
ii.Negative net worth of amalgamated bank; the amalgamating bank on its own assures to protect deposits of all
the depositors of the amalgamated bank.
iii.Negative net worth of amalgamated bank; amalgamating bank ensures deposit protection with state
government’s upfront financial support in merger process.
Points to be noted:-
The Banking Regulation Amendment Bill, 2020 will not apply to:
a) Primary agricultural credit societies.
RBI raises Small Value Payment Transaction Limit in Offline Mode to Rs 500
The Reserve Bank of India (RBI) increased the upper limit for offline transactions to Rs 500 from Rs 200 w.e.f.
August 24, 2023, following its announcement during the bi-monthly policy review on August 10, 2023.
• However, overall limit is retained at Rs 2000 to contain the risks associated with relaxation of two-
factor authentication.
• The information for the same was provided by RBI under Section 10 (2) read with Section 18 of the
Payment and Settlement Systems Act, 2007 (Act 51 of 2007)/PSS Act.
About Offline digital payments:
Offline digital payments are Internet-free transactions, often for small amounts, by using means like National
Common Mobility Card (NCMC) and UPI (Unified Payments Interface) Lite. The offline mode transactions can
be facilitated through cards, wallets, and mobile devices, applicable to Authorized Payment System Operators
(PSOs)/Payment System Participants (PSPs), including acquirers and issuers like banks and non-banks.
Reason behind this increase:
This decision to increase the transaction limit to Rs 500 from Rs 200 has been taken to encourage wider
adoption of UPI (Unified Payments Interface) Lite. This will eliminate the need for multiple transactions for
users. It also harnesses the new technologies for enhancing digital payments experience for users.
• UPI Lite is an ‘on-device wallet’ feature that will allow users to make real-time small-value payments
without using a UPI PIN. It was launched in September 2022.
Background:
The RBI has set a cap of Rs 200 per transaction and a total limit of Rs 2000 for each payment method for small-
value offline digital payments. This eliminates the requirement for two-factor authentication in these cases,
making them faster, reliable, and contactless options for routine small payments and transit fares. However,
there have been requests for these limits to be increased. Therefore, the above change has been made.
Who are PSOs/PSPs?
PSOs/PSPs are entities authorized by the RBI to operate payment systems enabling transactions between
payers and beneficiaries.
• As per the PSS Act, a payment system is a mechanism facilitating transactions between payers and
beneficiaries, encompassing clearing, payment, and settlement services, excluding stock
exchanges. It covers various operations like credit/debit card, smart card, and money transfers.
Recent Related News:
i.It has issued a ‘Draft Circular – Arrangements with Card Networks for issue of
Debit, Credit and Prepaid Cards’ empowering the debit, credit, and prepaid card users in India with Card
network portability w.e.f. October 1st, 2023.
ii.RBI cancelled the banking licence of two cooperative banks, Sri Sharada Mahila Co-operative Bank, Tumkur,
Karnataka and Harihareshwar Sahakari Bank, Satara in Maharashtra.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
SEBI, APMI jointly set Standards for Performance Audit of PMS Players
On August 2, 2023, the Securities and Exchange Board of India (SEBI) and Association of Portfolio Managers in
India (APMI) collaboratively established performance audit standards for portfolio management services
(PMS) providers, effective from October 1, 2023.
• This information by SEBI is provided in exercise of powers conferred under Section 11(1) of the
SEBI Act, 1992, read with the provisions of Regulation 43 of SEBI (Portfolio Managers) Regulations,
2020, to protect the interest of investors in securities and to promote the development of the
securities market.
Standard Terms of Reference by APMI:
i.APMI, in consultation with Sebi, will set standardized Terms of Reference (ToR) for auditing firm-level
performance data. It will mandate portfolio managers to include all client portfolios in the audit process.
ii.According to the new standards, Portfolio Managers need to submit two reports to SEBI related to the firm-
level performance data within 60 days after each financial year ends.
• The first report is a “confirmation of compliance” with the requirement of an annual audit of the
firm-level performance data. Portfolio Managers need to ensure that they have conducted the
necessary audit as per the specified standard and submit this confirmation to SEBI within sixty days
from the end of each financial year.
• The second report is required to submit the actual “audit report” on firm-level performance
data to SEBI within 60 days from the end of each financial year.The report contains the findings and
results of the audit conducted on the firm-level performance data which includes detailed
information about the assessment and evaluation of the portfolio manager’s performance data
during the financial year.
iii.The performance of advisory clients may be excluded from the audit if it has not been published in any
marketing material or website.
Click Here for Official Circular
About Securities and Exchange Board of India ( SEBI):
Chairperson -Madhabi Puri Buch
Headquarters – Mumbai, Maharashtra
Establishment – 12 April 1992
SEBI Allows OFS for Units of Private Listed InvITs via Stock Exchange
The Securities and Exchange Board of India (SEBI) allowed Offer For Sale (OFS) for units of private
listed Infrastructure Investment Trusts (InvlTs) through a stock exchange mechanism. This information by
SEBI is provided in exercise of powers conferred under Section 11(1) of the SEBI Act, 1992.
• Offer For Sale (OFS) mechanism is allowed for the sale of units of both Real Estate Investment Trusts
(REITs) and Infrastructure Investment Trusts (InvITs) by their respective sponsors or sponsor
group entities. Additionally, other unit holders of listed REITs can also use the OFS mechanism to
sell their units.
• Now,it has been decided to modify the framework to allow OFS for units of private listed InvITs.
• In the case of OFS for listed InvITs, the trading lot will be the same as the trading lot prescribed for
such InvITs in the secondary market under SEBI’s Infrastructure Investment Trusts rules.
SEBI Mandates FPIs to carry 10% of Corp.Bonds Trades ; Shortens AIFs/VCFs Overseas
Investment to 4 Months
On August 7, 2023, the Securities and Exchange Board of India (SEBI) mandated Foreign Portfolio Investors
(FPIs) to place at least 10% of their trades in corporate bonds through the Request For Quote (RFQ) platform
of stock exchanges w.e.f. from October 1, 2023.
• This information by SEBI is provided in exercise of its power conferred
under Section 11(1) of the SEBI Act 1992, read with the provisions of
Regulation 20(5) and Regulation 44 of SEBI (Foreign Portfolio Investors) Regulations,
2019 to protect the interests of investors in securities and to promote the development of, and to
regulate the securities markets.
Aim:
i.To boost liquidity on the RFQ platform
ii.To enhance the transparency and disclosures pertaining to investments in corporate bonds to encourage
investment by FPIs in the corporate bond segment
Reason behind this Mandate:
This mandate followed a consultation paper by SEBI in July 2023. According to the paper, FPIs’ corporate bond
investment is generally low, and their trades on the RFQ platform are even lower. In FY2022-23, FPIs
conducted only 4.5% of their total corporate bond trades through the RFQ platform, and their share of total
trades executed by various entities on the RFQ platform was merely 0.78%. So, to overcome this, the above
mandate is made.
What is RFQ?
Request For Quote (RFQ) , launched on BSE (earlier Bombay Stock Exchange) and NSE (National Stock
Exchange of India) in February 2020, is an electronic platform that facilitates multi-lateral negotiations for
debt securities on a centralized online trading platform. It enables straight-through processing of clearing and
settlement, and offers a diverse range of debt securities for trading.
• It operates as a participant-based model, allowing registered regulated entities, listed corporate
bodies, institutional investors, and Indian financial institutions to access and transact quotes.
Click Here for Official Circular
SEBI Reduces Overseas Investment Timeline for AIFs and VCFs to 4 Months
SEBI has decreased the validity period of approval for Alternative Investment Funds (AIFs) and Venture Capital
Funds (VCFs) to make overseas investments to four months from six months.
SEBI Issues Disclosure Norms for FPIs Holding High Indian Equity AUM
On August 24, 2023, the Securities and Exchange Board of India (SEBI) mandated additional disclosures from
Foreign Portfolio Investors (FPIs) that have concentrated holding in a single company or a group firm
w.e.f. November 1, 2023.
• Such FPIs will be required to identify all entities with any ownership, economic interest and control
rights.
Key Points:
i.FPIs with over 50% of Indian equity Assets Under Management (AUM) in a single corporate group get 10 days
IndusInd Bank and Tiger Fintech partnered to launch a co-branded credit card Powered by
Visa
On 3rd August 2023, IndusInd Bank Ltd. and Tiger Fintech Private Limited, a Bajaj Capital Group company,
announced the launch of the ‘IndusInd Bank Tiger Credit Card’, a co-branded credit card powered by Visa Inc
(Visa), the global digital payments technology company, to give the best-in-class credit card access to the
customers, to meet their lifestyle requirements.
Benefits of the card:
i.The card offers a ‘Magnificent Rewards Program’, where customers earn up to 6X accelerated rewards.
ii.Cardholders will also be able to convert their rewards points to air miles (by redeeming the reward points for
flight tickets) and enjoy discounted foreign currency markup of 1.5%, which can lead to considerable savings
on their international expenses.
iii.It also offers access to complimentary benefits like a 24×7 concierge facility (customers can have access to a
team of personal assistants to perform various tasks), domestic and international lounge access at the airports,
games/lessons of golf, assured movie tickets, and many other entertainment benefits.
iv.The benefits also include discounted fees for international transactions, with Visa’s commitment to a safe,
secure, and seamless payment experience, cardholders can make secure transactions.
About IndusInd Bank Ltd:
Managing Director (MD) & Chief Executive Officer (CEO)– Sumant Kathpalia
Headquarters– Mumbai, Maharashtra
Tagline– We Make You Feel Richer
Established in– 1994
Bajaj Finance has Partnered with ICICI Lombard General Insurance to Provide Insurance Plans
Bajaj Finance Limited (BFL) has partnered with ICICI Lombard General Insurance along with other partners to
provide car and two-wheeler insurance plans on the platform Bajaj Finance Insurance Mall.
Key points:
i.The ICICI Lombard Car and Two-wheeler Insurance policies offer comprehensive damage coverage, (including
own and third-party damage), personal accident cover, No Claim Bonus (NCB) to vehicle owners and vehicles.
• Comprehensive Coverage: Complete protection for insured vehicle and safeguard against third-
party liabilities.
• Own Damage Cover: Receive coverage for damages caused to vehicle due to accidents, theft,
natural disasters, and fire incidents.
• Third-Party Cover: Secure financial support for third-party liabilities, compensating for property
damage and injury expenses caused by the policyholder’s fault.
• Personal Accident Cover: Receive financial aid in case of accidents resulting in injuries or fatality of
the owner/driver, with a personal accident cover up to Rs. 15 lakhs.
• No Claim Bonus (NCB): Policyholders will receive a No Claim Bonus when they haven’t made any
claims in the previous policy year. This bonus earns you a discount on your renewal premium, which
grows as you accumulate more bonus points.
ii.ICICI Lombard also offers a range of add-on covers to help customers enhance their vehicle insurance such as
NCB protector cover, 24×7 roadside assistance cover, Zero depreciation add-on cover, Engine protection add-
on cover.
• These covers provide additional financial backup, ensuring the customers stay fully covered in case
of any emergency.
iii.The policies can be brought through a seamless digital process.
About Bajaj Finance Limited (BFL):
BFL a subsidiary of Bajaj Finserv Ltd. is a deposit taking Non-Banking Financial Company (NBFC-D).
Chairman- Sanjiv Bajaj
Headquarters- Pune, Maharashtra
Established- 1987
Bandhan Bank & Odisha Govt Partnered to facilitate OTDC payment solutions
On 7th August 2023, Kolkata (West Bengal) based-Bandhan Bank Limited, partnered with the Government
of Odisha, to support the payment solutions for the Odisha Tourism Development Corporation (OTDC) Ltd.
• The Bank has introduced Point of Sale (PoS) machines, which offers a seamless card payment
experience and are placed in prime locations across popular tourist destinations in Odisha including
Puri, Bhubaneshwar, Konark, Chilka, and Gopalpur.
• Bandhan Bank will be providing the machines to OTDC and these PoS machines provide easy and
quick payment solutions to tourists, thus bringing convenience, both for the tourists and OTDC
officials.
• The Electronic Data Capture (EDC) machines will also help prevent revenue loss for OTDC, due to
the lack of cash carried by the tourists. This initiative is also aligned with India’s vision of a ‘Cashless
Economy’.
Note:
• Bandhan Bank Limited, incorporated on 23rd December 2014, is an associate of Bandhan Financial
Holdings Limited (BFHL) which is a wholly-owned subsidiary of Bandhan Financial Services Limited
(BFSL).
In 2015, It became the first-ever microfinance institution to become a universal bank in India.
Kotak Life partners with ESAF Bank to offer Life Insurance to customers
On 9th August 2023, Kotak Mahindra Life Insurance Company Ltd (Kotak Life) announced its corporate
agency tie-up with ESAF Small Finance Bank (ESAF Bank) to offer life insurance to ESAF Bank customers.
The tie-up plans to benefit 68 lakh customers of ESAF Bank through life insurance products provided by Kotak
Life, including protection, savings, investment and retirement through ESAF Bank’s 700 banking outlets spread
across 21 States and 2 Union Territories(UTs)
Axis Bank Partners with RBIH To Launch KCC & MSME loans Powered By PTPFC
Axis Bank Limited has launched two new financial products, Kisan Credit Card (KCC) and unsecured Micro,
Small and Medium Enterprises (MSME) loans powered by Public Tech Platform for Frictionless Credit (PTPFC),
an initiate of Reserve Bank Innovation Hub (RBIH), wholly owned subsidiary of the Reserve Bank of
India(RBI).
Features:
i.On Pilot basis, the Kisan Credit Cards(KCC) will be introduced in Madhya Pradesh(MP).
ICC & Mastercard signed global partnership for ICC Men’s Cricket World Cup 2023
The International Cricket Council (ICC) has signed a global partnership with Mastercard, a global payment-
processing corporation, for the ICC Men’s Cricket World Cup 2023 which is scheduled to be held in India from
5th October 2023 to 19th November 2023.
• The tie-up aims to connect cardholders and cricket enthusiasts to priceless experiences throughout
the tournament.
Benefits to Mastercard holders:
Exclusive 24-hour pre-sale window, chance to meet cricket players, getting up close to the Men’s Cricket World
Cup trophy and a chance for the children of cardholders (aged between 12-18 years) to be a part of the
flagbearer programme.
IIT Bombay Partners with HSBC to Support Innovation-led Green Hydrogen Initiatives
The Indian Institute of Technology (IIT) Bombay, (Mumbai) Maharashtra has partnered with HSBC to pursue
technological advancements towards making green hydrogen production more efficient, cost-effective, and
scalable.
• This partnership will help boost the Indian government’s National Green Hydrogen
Mission (NGHM) focused on providing policy support towards achieving global leadership in green
hydrogen transition.
This partnership was unveiled by Union Minister Nirmala Sitharaman, Ministry of Finance at Delhi on August
24, 2023.
Key People:
Prof. Ravindra D. Gudi, IIT Bombay, Group Chairman, HSBC, Mark Tucker; CEO, HSBC India, Hitendra Dave;
Global Head of Philanthropy & Head of Sustainability, HSBC India, Aloka Majumdar among others were present
during the event.
About Partnership:
i.The IIT Bombay and HSBC partnership will boost IIT researchers and students to create innovative solutions
to address challenges in green hydrogen technology. The initiative involves project proposals from IIT Bombay,
assessed by a steering committee including HSBC India representatives and professors, potentially leading to
incubation for the top submissions.
ii.India’s MGHM targets 5 MMT (Million Metric Tons) annual green hydrogen production by 2030, contributing
125 GW (Giga Watt) renewable energy capacity and aiding the country’s net-zero emissions goal.
IIT Bombay has received a donation of USD 18.6 million for Green Energy and Sustainability Research
Hub
IIT Bombay has received an USD 18.6 million donation from an alumnus to establish a Green Energy and
Sustainability Research Hub, which will redefine the institute’s role in tackling the global climate crisis.
The hub will be located within a state-of-the-art academic building on the IIT Bombay campus in
suburban Powai.
DBS Bank Partners with Maptrasco to Complete First eBL Transaction Between India &
Singapore
DBS Bank Ltd (formerly known as Development Bank of Singapore Limited) in collaboration
with Maptrasco (Khaitan International Private Limited – KIPL), a Singapore-based commodities trader, has
completed the first “live” transaction of electronic Bills of Lading (eBL) for shipments between Singapore and
India.
• The transaction was implemented under the TradeTrust framework, an initiative by the Infocomm
Media Development Authority (IMDA) and supported by Enterprise Singapore.
• This was announced by Gan Kim Yong Minister for Trade and Industry of Singapore during the G20
Trade and Investment Ministerial Meeting in Jaipur, Rajasthan.
Partnerships:
i.This project was implemented in close partnership between government agencies (Ministry of Trade and
Industry (MTI), Singapore), the National Institute for Transforming India (NITI) Aayog (India), Enterprise
Singapore, and IMDA (Singapore).
ii.Industry partners of the project includes DBS (Singapore), ICICI Bank (India), Maptrasco (Singapore), Jindal
Stainless (India), and A.P. Moller-Maersk (APMM), Singapore.
TradeTrust Framework:
TradeTrust aims to streamline the process of document handling, reduce the reliance on physical paperwork,
and enhance transparency and security in cross-border transactions.
i.The framework can be used for the transmission of any digital trade document including Certificates of Origin,
Preferential Certificates, and transfer of Electronic Transferrable Records (ETRs) like eBLs.
ii.TradeTrust meets United Nations Commission On International Trade Law (UNCITRAL) Model Law on
Electronic Transferable Records (MLETR) requirements. Incorporated into Singapore legislation in 2021.
iii.It utilises blockchain-powered technology to ensure the singularity and provenance of transactions,
enhancing trust, security, and accuracy.
Details of First Shipment Using TradeTrust Framework:
i.Maptrasco shipped a container of scrap metal from Miami, Florida, the United States of America (USA) to
Gujarat, India.
ii.Maersk issued an eBL using the TradeTrust portal, a reference implementation of the TradeTrust framework,
to Maptrasco.
iii.Jindal Stainless applied for a Letter of Credit (L/C) from ICICI Bank as the Issuing Bank of the LC.Jindal
Stainless is the first Indian company in a partnership between India and Singapore.
iv.Maptrasco utilised DBS as the Presenting Bank and transferred the title ownership of the eBL via the
TradeTrust portal.
v.DBS checks and confirms the supporting documents as per the terms of the L/C, including the
TradeTrust eBL. DBS uses the Singapore Trade Data Exchange (SGTraDex) platform to transfer the title
ownership of the eBL to ICICI Bank.
vi.ICICI Bank receives the eBL and uses its own advanced platform, TradeChain, powered by EdgeVerve which
is TradeTrust-enabled by GUUD to transfer the title ownership of the eBL to Jindal Stainless.
vii.Jindal Stainless as ICICI Bank’s customer, utilises the TradeChain platform to Surrender the eBL to Maersk
and complete the shipment.
ADB Signs Agreement with Fourth Partner to Set up Solar Power Plant in Tamil Nadu
The Asian Development Bank (ADB) signed an agreement of worth Rs 1.2 billion (about USD 14.7 million)
with Fourth Partner Energy (4PEL) Private Limited (Fourth Partner), an Independent Power
Producer(IPP) to build and operate a solar photovoltaic power plant in Tirunelveli, Tamil Nadu.
• The 25 Megawatt(MW) power plant will produce electricity of about 50.7 GigaWatt-
hours(GWh) annually.
Note: ADB for the first time provides direct financing for a renewable energy plant.
Aim:
• The solar photovoltaic power plant aims to provide clean and affordable energy to commercial
and industrial users.
• The plant will prevent the emission of nearly 41,700 tons of carbon dioxide(CO2) per year.
About Open access energy procurement:
i.Open Access enables heavy users with a connected load exceeding 1 MW to purchase affordable
electricity from the open market.
ii.India’s open access renewable energy policy allows businesses to buy electricity directly from IPP.
• This can help them to reduce their carbon emissions and achieve net zero emission target.
Additional Info:
Other projects of Fourth Partner: Construction of solar and wind parks across Ottapidaram, Tuticorin and
Nandikundu, Virudhunagar in Tamil Nadu.
About Asian Development Bank (ADB):
President – Masatsugu Asakawa
Headquarters – Manila, Philippines
Established in – 1966
Members – 68 member countries
Fourth Partner Energy (4PEL) Private Limited (Fourth Partner)
Fourth Partner Energy, a premier Renewable Energy firm dedicated to the advancement of solar, wind,
hybrid, battery storage, and e-mobility projects/solutions. Catering to the diverse needs of commercial,
industrial, and institutional entities, the company has positioned itself as a beacon of innovation and
progress.
Headquarters – Hyderabad, Telangana
Established in – 2010
Exim Bank of India launches Factoring Subsidiary ‘Exim Finserve’ in GIFT City, Gujarat
On August 8, 2023, the Export-Import Bank of India (Exim Bank of India) launched its
subsidiary- India Exim Finserve IFSC Private Limited (Exim Finserve) at the Gujarat International Financial
Tec (GIFT) City in Gandhinagar, Gujarat.
• It was inaugurated by Dr. Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry
of Finance.
• This subsidiary is set to provide a suite of trade finance solutions to Indian exporters, with a primary
emphasis on export factoring.
• Exim Finserve is the first finance company in GIFT City for export factoring.
Note: The subsidiary of Exim Bank was announced in the Union Budget 2023 by Union Finance Minister
Nirmala Sitharaman.
Services to be provided by Exim Finserve to Exporters:
The subsidiary aims to empower exporters with a trio of services:
1. Receivables financing,
2. Risk mitigation against non-payment
3. Efficient accounts receivable management
Key Points:
i.The services by Exim Finserve will improve cash flow and reduced payment risk for exporters.
• It will enhance the export competitiveness of Micro, Small, and Medium Enterprises (MSMEs) as
they can provide attractive credit terms to buyers without facing associated risks.
ii.During the launch event, Exim Bank also released a study titled “Strengthening Collaborations to Bridge
the Trade Finance Gap: Insights for G20 Countries”. The study notes that the trade finance gap expanded to
US$ 2 trillion in 2021/22.
About Exim Bank of India:
Managing Director– Harsha Bangari
Establishment– 1982
Headquarters– Mumbai, Maharashtra
Axis Bank to raise stake in Max Life to 16.22% via Rs 1,612 crore Investment
On August 9, 2023, Axis Bank Limited announce to raise its stake in Max Life Insurance Company Limited to
16.22% from 9.99% by infusing Rs 1,612 crore (USD 194.6 million) through a preferential allotment of shares.
• The proposal for the same was approved by the acquisitions, divestment and merger committee of
Bank’s board.
• This capital infusion will help Max Life to support its growth ambitions, augment capital position
and improve solvency margins.
Background:
Axis Bank, along with its entities (Axis Securities and Axis Capital), had acquired a 12.99% stake in Max Life in
2021, and through this new investment they will own 19.02% in the Max Life.
Key points:
i.The increase in the stake by the bank will be done through a share subscription agreement with Max Life
through subscription to the preferential issue of 14,25,79,161 fully paid-up equity shares of face value of Rs 10
each at a fair market value of Rs 113.06 per share.
ii.Currently, Max Financial holds an 87% in Max Life. On completion of the proposed capital infusion, Max
Financials’ shareholding will reduced to 80.98%.
iii.After the investment, Five nominee directors of Axis entities and three nominee directors of Max Financial
will be there on the board of Max Life.
About Axis Bank:
MD & CEO– Amitabh Chaudhry
Headquarters– Mumbai, Maharashtra
Establishment– 1993
Tagline– Badhti Ka Naam Zindagi
Chakr Innovation Secures Rs 18 Crore Funding from EXIM Bank’s USP for Sustainable
Environment
Chakr Innovation Pvt Ltd, a Gurugram (Haryana)- based technology start-up focused on environmental
sustainability and pollution reduction solutions, secured substantial funding of Rs.18 crores from the Export-
Import Bank of India (EXIM Bank) under its Ubharte Sitare Programme (USP), for developing the
environmental sustainability and technology sector in India.
• The funds were sanctioned under EXIM Bank’s USP, reflecting the institution’s commitment to
promoting domestic growth and addressing international demands.
Note:
• Chakr Innovation has developed the world’s first retrofit emission control device for diesel
generators, and their technology can reduce ~70% of particulate matter emissions from the exhaust
of diesel generators.
• EXIM bank is the premier export finance institution, established by the Government of India, under
the Export-Import Bank of India Act, 1981. It commenced its operations in March 1982 and is
operating under the Ministry of Finance.
Bank of Maharashtra Tops List of PSU lenders chart in Q1 in Loan, Deposit Growth
Bank of Maharashtra (BoM), an Indian Public Sector Bank(PSB), has emerged as the top performer among
public sector lenders in terms of loan and deposit growth in percentage during the first Quarter (Q1) of the
current financial year (FY24).
• Its deposit and advances recorded around 25% rise, the highest by any PSB, during the April-June
quarter.
• According to the recently published quarterly data of PSBs, BoM’s gross domestic advances surged
by 24.98%, reaching a total of Rs. 1,75,676 crore at the end of June 2023.
Top 5:
i.BoM was followed by UCO Bank with a growth rate of 20.70% in the 2nd spot.
ii.Bank of Baroda (BoB) with 16.80% and Indian Overseas Bank (IOB) with 16.21% growth rates are at 3rd
and 4th spots, respectively.
iii.India’s largest lender State Bank of India (SBI) stood at the 5th spot with a 15.08% rise in domestic
advances growth.
Key Points:
i.SBI’s total loans were about 16 times higher at Rs. 28,20,433 crore, as compared to Rs. 1,75,676 crore of BoM
in absolute terms.
ii.In terms of Retail-Agriculture-MSME (Micro, Small, and Medium Enterprises) loans (RAM loans), BoM has
the highest growth of 25.44% followed by Punjab & Sind Bank with 19.64% and Punjab National Bank (PNB) at
19.41% on Year-on-Year basis.
Highlights:
i.In the domain of deposit growth, BoM has marked a significant growth of 24.73% and mobilised Rs. 2,44,365
crore at the end of June 2023.
• BoB holds the 2nd place with a 15.50% growth in deposits (Rs. 10,50,306 crore), while PNB
recorded a 13.66% rise at Rs. 12,67,002 crore.
IndusInd Bank Launches Visa Multi-Branded Credit Card with Qatar Airways & British Airways
IndusInd Bank Limited launched first-of-its-kind Visa multi-branded credit card “IndusInd Bank Avios Visa
Infinite Credit Card” in partnership with British Airways Executive Club and Qatar Airways Privilege Club.
• This card aims to offer best-in-class rewards and benefits to customers, across travel, wellness and
lifestyle experiences.
• Avios, the rewards currency for British Airways Executive Club and Qatar Airways Privilege Club
which can be used for travel rewards, including hotels and car hire.
About IndusInd Bank Avios Visa Infinite Credit Card:
i.The IndusInd Bank Avios Visa Infinite Credit Card is an ultra-premium metal card with an innovative, sleek
design.
ii.The chip-based contactless credit card will enable swift, convenient, and secure transactions for your daily
purchases.
Benefits:
i.The card offers flexibility to choose your preferred airline loyalty programme partner (Qatar or British
Airways) and select preferred international destination to maximise benefits.
ii.Complimentary Gold membership tier awarded by Qatar Airways.
iii.Airport Meet & Greet Immigration Services at leading international airports.
Other benefits:
The cardholders are also entitled for other benefits such as dedicated concierge, elderly care assist,
international travel health insurance and discounted foreign currency markup at preferred international
destinations.
Additional Info:
The British Airways is a member of oneworld Alliance, a premier airline alliance which aims to deliver a
superior, seamless travel experience, with special privileges and rewards for frequent flyers.
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
ADB Approves Rs.3.32 crore for Safe Public Transport Projects in Hyderabad
The Asian Development Bank (ADB) has granted Rs.3.32 crore to a team of technology experts from Birla
Institute of Technology & Science (BITS) Hyderabad (Telangana), Indian Institute of
Technology (IIT) Bombay (Maharashtra), and IIT Kharagpur (West Bengal) to develop, test, and implement
passenger safety projects in the public transport systems of Hyderabad.
• The experts’ team led by Prof. Prasanta Sahu, was working on developing technology solutions to
improve last-mile security for metro rail and public transit passengers under the guidance of NVS
Reddy, Managing Director (MD) Hyderabad Metro Rail Limited (HMRL).
HDFC Bank Along With Marriott International Launched India’s First Co-Branded Hotel Credit
Card
Marriott International, one of the world’s largest hotel chains, in collaboration with HDFC Bank launched
India’s first co-branded hotel credit card in the name Marriott Bonvoy HDFC Bank Credit Card.
• The card aims to enhance the travel experiences of cardholders by offering exclusive benefits,
rewards, and seamless access to Marriott International’s loyalty program Marriott Bonvoy .
• The co-branded credit card will run on Diners Club, part of the Discover Global Network.
Eligibility:
Salaried Indian National:
i.Must be an Indian national.
ii.Must be between the ages of 21 to 60 years.
Must have a gross monthly income of more than Rs. 1 lakh.
Self Employed Indian National:
i.Must be between the ages of 21 and 65 years.
ii.Must have an Income Tax Return (ITR) of more than Rs. 15 lakhs.
Bonvoy points:
i.The reward points earned by using the credit card are called Marriott Bonvoy points.
ii.These points can be redeemed at participating hotels across the Marriott Bonvoy portfolio. Cardholders can
also transfer their points to 40 different airlines around the world.
Travel benefits:
i.12 complimentary access to domestic lounges and 12 complimentary access to international lounges.
ii.Insurance facility by HDFC Bank against loss or delayed baggage, loss of passport, ticket and missed
connection along with complimentary personal air accident insurance cover.
Additional info:
HDFC bank has over 100 million customers, and about 18 million of them use credit cards. The bank wants to
reach more of its existing customers with this premium product, and it also wants to reach the 180 million
plus customers who are part of the Marriott Bonvoy loyalty program.
Indian Bank Becomes 1st PSB to Extend Online Locker Agreement Through DDE Platform of
NeSL
Indian Bank became the First Public Sector Bank (PSB) to extend facility of execution of on-line locker
agreement through Digital Document Execution (DDE) Platform of National E-Governance Services Limited
(NeSL), India’s first Information Utility under Insolvency and Bankruptcy Board of India (IBBI).
• Online locker agreements are available 24/7, improving customer convenience and reduces agreement
execution time.
i.DDE is a fully automated contract execution platform with paperless e-stamp and electronic signature (e-
Sign) facility. The facility of e-Sign includes Aadhar based (OTP/Biometric) and dongle-based digital
signature…Click here for the workflow and benefit of DDE
ii.The platform provides the option for both individual and multiple signatories to execute documents
sequentially. This feature enables joint account holders to easily execute locker agreements. Additionally,
customers can monitor transaction status and instantly download the Electronic Evidence (65B) certificate.
• The 65B Certificate is prescribed under Section 65B of the Indian Evidence Act,1872. A 65B Certificate is
a certificate submitted to a court in India for the purpose of producing Electronic or Digital Evidence in
certain cases.
iii.The end-to-end digital process eliminates the need for physical stamp papers and signatures, making it
faster and more efficient.
About Indian Bank
MD & CEO – Shanti Lal Jain
Headquarters – Chennai, Tamil Nadu
Established in – 1907
Tagline – Your own bank
Frontier Markets Joined with Airtel Payments Bank and Mastercard Partner, Launched ‘She
Leads Bharat: Udyam’
Frontier Markets, a Social Commerce Platform, in collaboration with Airtel Payments Bank and the Mastercard
Center for Inclusive Growth launched an initiative ‘She Leads Bharat: Udyam’ . The announcement was made
at the 1st edition of Asia Inclusive Growth Forum.
• The initiative aims to elevate 1,00,000 women-owned small businesses in Rajasthan and Uttar
Pradesh.
• This is a first-of-its-kind initiative that brings together the private sector,social enterprise, and
philanthropy in the banking, financial services, and insurance sector.
• This initiative focuses on showcasing a digital-first approach to empower women-owned small
businesses, enabling them to enhance their earnings.
Role of Frontier Markets’:
Frontier Markets will implement the program and utilize its team of Saral Jeevan Sahelis, who are women
entrepreneurs. Their role involves identifying and enrolling women-owned small businesses onto the Meri-
Saheli platform.
i.In the first phase, the initiative will enable 1,00,000 women-owned small businesses to learn and earn via
Frontier Markets’ proprietary, flexible Meri-Saheli platform.
ii.Frontier Markets aims to reach 1 million women and 100 million rural households by 2025.
‘Infinity Savings Account’ , First-Of-Its-Kind Fixed Fee-Based Savings Account Launched by Axis
Bank
Axis Bank Limited launched ‘Infinity Savings Account’, a first-of-its-kind fully Digital fixed fee-
based savings account with no paperwork or branch visits.We can able to open completely in digital
through the Video Know Your Customer (KYC) process.
• This account is designed for customer who are comfortable using digital services and often sign
up for subscription-based services.
Eligibility:
Any Resident Indian who is 18 years and above with Initial Funding of Rs 5,000.
Benefits:
i.Customers need to pay a fixed amount of fee at a predefined interval of time.
• There are no service charges or no Average Monthly Balance (AMB) requirement
ii.No charges on any domestic transactional fees.
iii.Free Debit Card with unlimited Automated Teller Machine (ATM) withdrawals.
iv.No charges on cheque book usage or transactions/withdrawals above limits.
Plans offered:
i.Monthly plan: The customers need to pay Rs 150 every month.The plan should be in active for a
minimum of 6 months.
ii.Annual plan: The annual plan is charged at Rs.1650 (inclusive of GST) and offers Infinity benefits for
360 days.
About Axis Bank Limited:
Managing Director(MD) & Chief Executive Officer(CEO) – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Established in – 1993
Tagline – Badhti Ka Naam Zindagi
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.
SBI Life Insurance becomes the first Indian private life insurer to launch ’24X7 inbound contact
centre
State Bank of India (SBI) Life Insurance became the first private life insurance company in India to provide
24X7 inbound contact centre via toll-free number 18002679090 to address before and after purchase queries
with the aim to offer real time solutions to queries related to policies and insurance solutions.
• The contact centre is available to both existing and new consumers, throughout the year.
• This is aligned with the goal of ‘Insurance for all by 2047’ set by Insurance Regulatory and
Development Authority of India (IRDAI).
• This initiative aims to address both pre and post-purchase inquiries, offering real-time solutions for
policy and insurance-related queries.
Current Capacity:
The current capacity of the customer care support enables it to manage approximately 13 lakhs calls annually.
Additionally, the company operates an Interactive Voice Response System (IVRS) featuring 13 self-service
options.
Insurance for all by 2047-IRDAI:
i.IRDAI committed to enable ‘Insurance for all by 2047’ with an aim to provide every citizen with life, health
and property insurance cover and every enterprise with appropriate insurance solutions.
ii.The three pillars of the entire insurance ecosystem are insurance customers (policyholders), insurance
providers (insurers) and insurance distributors (intermediaries).
HDFC Group launched Life Insurance & Asset Management Services from Gujarat’s GIFT City
HDFC Group launched new life insurance and asset management services at International Financial Services
Centre (IFSC) situated in Gujarat International Finance Tec (GIFT) City, Gujarat.This initiative offer services to
Non-Resident Indians (NRIs) and the global Indian diaspora.
• HDFC Life unveils HDFC International Life and Re, and HDFC AMC International (IFSC) Ltd by HDFC
Asset Management Company to cater to the financial needs of the worldwide Indian community.
CBDT Notifies New Rules for Tax Exemption of Life Insurance Premiums Exceeding 5 Lakh
Central Board for Direct Tax (CBDT) under Department of Revenue in Ministry of Finance issued notification
(No. 61/2023) regarding the Income Tax Amendment (Sixteenth Amendment) Rules, 2023 is a set of rules
introduced as part of the Finance Act, 2023. The new guidelines for tax exemptions under the amended
section 10 (10D) of the Income Tax Act, 1961, state that the maturity sum received from life insurance
policies will be subject to taxation if the annual premium exceeds Rs.5 lakh.
• The insertion of a new clause (xiii) in sub-section (2) of section 56 of the Income Tax Act, 1961, is
related to the amendment mentioned in the Income Tax Amendment (Sixteenth Amendment) Rules,
2023.
• This new clause (xiii) introduces a specific provision that addresses the tax treatment of sums
received under a life insurance policy.The tax treatment of life insurance policies refers to how
the proceeds or benefits received from these policies are treated for taxation purposes
• Rule 11UACA provides the methodology for computing the income chargeable to tax under clause
(xiii) of sub-section (2) of section 56 of the Income Tax Act, 1961.
Note – The Finance Act is an annual legislation in India that outlines the amendments, modifications, and
changes to various tax laws, including the Income Tax Act, 1961.
The key changes introduced through the amendment are as follows:
Under the previous rules specified in section 10 (10D) of the Income Tax Act, 1961, the maturity sum of a
life insurance policy, along with any bonuses, was not subject to taxation.
• However, the amendment to Clause (10D) of section 10 of the Income Tax Act, 1961, stipulated
that the maturity sum received from life insurance policies issued on April 1, 2023, or after, will be
taxable if the yearly premium exceeds Rs 5 lakh.
Max Life Insurance Introduces Max Life NIFTY Smallcap Quality Index Fund
Max Life Insurance Company Limited(Max Life) launched “NIFTY Smallcap Quality Index Fund” in the Unit
Linked Insurance Plan (ULIP) segment to provide an opportunity to capitalise on the growth potential of
smallcap companies, aiming for long term index linked returns.
• This marks the first smallcap index fund of the life insurance sector.
• Max Life Nifty Smallcap Quality Index Fund is similar to Nifty Smallcap 250 Quality 50 Index which
offers 22% Compound annual growth rate (CAGR) for 10 years.
• This fund is designed to provide investors with an opportunity to leverage the growth potential of
Small-Cap companies, with a focus on achieving long-term index-linked returns.
Additional Points about NIFTY Smallcap Quality Index Fund:
i.The fund will be available with leading products like Online Savings Plan, which carries no allocation and
administrative charges, and the Platinum Wealth Plan, available with guaranteed wealth boosters and additions
during the New Fund Offer (NFO) period.It will also be available with other ULIP products.
• During the NFO period, the Fund will be offered through both the Online Savings Plan and the
Platinum Wealth Plan.
ii.The lower Fund Management Charges (FMC) makes this Index Fund a valuable investment avenue for
millennial investors.
India to grow at average 6.7% per year from FY24 to FY31: S&P Global
As per the United States based corporation S&P Global’s report titled ‘Look Forward: India’s Moment’, India
will grow at an average 6.7% per year from financial year 2023-24 (FY24) to FY31. This will increase the Gross
Domestic Product (GDP) of India to USD($)6.7 trillion by FY31 from $3.4 trillion in FY23 and The Per capita
GDP will rise to about $4,500.
• For FY24, India will be the fastest growing economy in the G20 (Group of Twenty) and will grow by
6% amid global slowdown and policy rate hikes by the Reserve Bank of India (RBI).
• India shows a GDP growth of 7.2% in FY23.
• The report projected India’s economic growth from FY24 to FY31.
Key Points:
i.The Indian private sector will drive India’s economic growth with projected capital contribution of around
53% of the projected 6.7% average GDP growth until 2030.
ii.Increasing the participation of women in the labor force will be crucial for future growth since only 24%
were participating in 2022.
iii.India has an opportunity to boost its share of global manufacturing exports, and the government aims to
raise manufacturing’s contribution to GDP from 17.7% to 25% by 2025.
Marketing Freedom regime: ONGC signed 1st-ever term contract with BPCL for sale of crude oil
from Mumbai region
Oil and Natural Gas Corporation Limited (ONGC), a Maharatna Central Public Sector Undertaking (PSU) under
the Ministry of Petroleum and Natural Gas (MoPNG), has entered into a term contract with Bharat Petroleum
Corporation Limited (BPCL), a Maharatna PSU under MoPNG, for the sale of crude oil from
the Mumbai region in Maharashtra. This agreement represents the first-ever term contract under the
Marketing Freedom system of government.
• The contract comes after the Government of India’s (GoI) decision to grant marketing and pricing
freedom for domestic crude oil replacing the previous allocation mechanism.
Note: ONGC has adapted to the new regime and successfully conducted the first-ever e-auction of Mumbai
(Maharashtra) Offshore crude oil.
Key Signatories:
The contract was signed by Sanjay Kumar, ONGC Executive Director (ED)- Chief Marketing, and Manoj Heda,
BPCL ED (Information Technology (IT)) at ONGC NBP Green Heights, in Mumbai, Maharashtra.
Key Points:
i.BPCL and ONGC have been in collaboration since 1976. BPCL processes ONGC’s crude oil at the Mumbai
refinery.
ii.The refinery’s strategic location is connected by pipeline, facilitating seamless logistical operations for ONGC.
iii.The energy market is constantly changing, ONGC stands strong, driving innovation and achieving excellence
in India’s oil and gas sector. As a key player, ONGC plays a vital role in shaping India’s energy future.
About Oil and Natural Gas Corporation Limited (ONGC):
Chairman & CEO– Arun Kumar Singh
Headquarters– New Delhi, Delhi
Established in– 14th August 1956
L&T, partners to invest $4B in Green Hydrogen Projects ; To Acquire NPCIL stake in Arm
Larsen & Toubro Limited (L&T) and its green hydrogen joint venture (JV) partners viz. Indian Oil Corporation
Limited (IOCL) and ReNew Power, will invest upto USD 4 billion (Rs 32,000 crore) in their green hydrogen
businesses over next three to five years.
• This is a part of the L&T’s plans to invest around USD 12 billion over the next five years.
Focus:
The focus of this collaboration is to harness the potential of green hydrogen, a clean and sustainable alternative
to traditional fossil fuels.
Key Points:
i.L&T has approached some coastal states in India to acquire 500-1,000 acres of land for hydrogen facilities.
ii.The venture into hydrogen production will commence with the manufacturing of electrolyzers, scheduled to
begin operations in December 2023.
iii.These electrolyzers will utilize renewable energy from ReNew Power Private Ltd. to produce green
hydrogen at the IOCL refinery in Panipat, Haryana.
iv.The project will subsequently be expanded to other IOCL refineries and L&T customers.
Note:
The clean energy strategy will be led by L&T Energy Green Tech, a subsidiary of L&T.
Additional info:
i.The key part of this investment involves allocating approximately Rs 500 crore towards the development of
electrolysers.
• Electrolysers are components in the production of green hydrogen, as they facilitate the separation
of hydrogen from water using renewable electricity sources, thus ensuring a more eco-friendly
energy creation process.
ii.L&T has set up a hydrogen plant in Hazira, Gujarat in 2022 and has partnered with IOCL to manufacture
electrolysers.
iii.In 2023, L&T signed an agreement with Norway-based H2Carrier to develop floating green ammonia
projects for industrial-scale applications.
• L&T also entered into a manufacturing agreement with France-based McPhy Energy for the
production of electrolysers using McPhy’s technology.
L&T to buy out NPCIL stake in L&T Special Steel and Heavy Forging
L&T is also looking to procure 26% stake that Nuclear Power Corporation of India (NPCIL) currently holds in
L&T Special Steel and Heavy Forging. In pursuit of this acquisition, L&T is prepared to invest
approximately Rs 150 crore.
• L&T Special Steels and Heavy Forgings is a Joint Venture of L&T and Nuclear Power Corporation of
India Limited.
Reason behind this move:
L&T has a forge shop that plays a critical role in the production of nuclear and defense-oriented items.
However, the presence of NPCI’s stake has posed challenges, hindering L&T’s efforts to broaden its horizons.
The nuclear plant connected to the JV accumulated loss of nearly Rs 3,000 crore. Recognizing the need for a
shift, L&T has initiated discussions with NPCI regarding the potential sale of the shareholdings.
Recent Related News:
i.To strengthen defence ties with India, the government of the USA has signed a formal framework
agreement on naval ship repair with Larsen & Toubro, the Indian defense shipbuilder.
Antler Launched India’s First ONDC-Centric Venture Platform Antler ONDC for Indian Start-up
Founders
Antler India, a Venture Capital (VC) firm launched India’s first Open Network for Digital Commerce (ONDC)-
focussed venture platform, Antler ONDC, to provide resources, an expert network, community, and capital to
start-up founders building on ONDC. The platform aims to increase talent density and enable opportunities on
ONDC and is also set to democratise e-commerce in India. It will also support pre-team and pre-idea founders
to build on ONDC.
• The platform has been created in partnership with Nandan Nilekani, Co-founder and Chairman of
the Infosys Board; Foundation for Interoperability in Digital Economy (FIDE) (Beckn Protocol),
and ONDC.
• The new programme offers USD 300,000 pre-seed capital and a potential extra investment of up to
USD 200,000 from Antler network partners, including unicorn founders, for prepared teams with
ideas,
The Antler India offers a unique solution, helping aspiring entrepreneurs find cofounders and raise funding in a
span of 3 months, will also support founders building on ONDC to scale up.
India, New Zealand sign MoU for Open Sky Policy; Boost cooperation in Civil Aviation
On August 29, 2023, a Memorandum of Understanding (MoU) has been signed between the Government of
India and the Government of New Zealand for an Open Sky Policy, allowing more flights between various cities
in the two countries.
• This will further boost the bilateral between both nations in civil aviation by scheduling of new
routes, code share services, traffic rights and capacity entitlement.
Signatories:
It was signed by Rajiv Bansal, Secretary, Ministry of Civil Aviation (MoCA), India; and David Pine, the New
Zealand High Commissioner in the presence of Union Minister Jyotiraditya Scindia, MoCA, and Damien O’
Connor, Minister for Trade and Export Growth of New Zealand.
What is in the MoU?
i.Under this, New Zealand’s designated airline(s) can operate unrestricted services with any type of aircraft,
holding third and fourth freedom traffic rights to/from six Indian cities: New
Delhi (Delhi), Mumbai (Maharashtra), Bengaluru (Karnataka), Chennai (Tamil
Nadu), Hyderabad (Telangana), and Kolkata (West Bengal). This is set to amplify bilateral civil aviation
relations.
ii.Similarly, India’s designated airline(s) can operate unrestricted services with any aircraft type, having third
and fourth freedom traffic rights to/from Auckland, Wellington, Christchurch, and three other New Zealand
points to be designated by the Indian Government.
iii.Both parties’ airlines can operate unlimited all-cargo services using any aircraft type, enjoying third, fourth,
and fifth freedom traffic rights between any points in each other’s territories, including via intermediate and
beyond points beyond those in the Route Schedule.
UNESCO & Telangana Govt Signed LoI to Implement UNESCO Recommendation on Ethics of AI
The United Nations Educational, Scientific and Cultural Organization (UNESCO) and the Information
Technology, Electronics and Communications (ITE&C) Department, Government of Telangana, signed a Letter
of Intent (LoI) to collaborate and make efforts in order to implement the UNESCO Recommendation on the
Ethics of Artificial Intelligence (AI).
• The partnership is focused on raising awareness of ethical AI development and use, creating
capacity, and making contributions to the UNESCO Global Observatory on AI Ethics.
Note: UNESCO produced the first-ever global standard on AI ethics, the ‘Recommendation on the
Ethics of Artificial Intelligence’ in November 2021.
Key People:
The LoI was signed in the presence of Vakati Karuna, Principal Secretary of the Education Department
of Telangana, Dr Mariagrazia Squicciarini, Director of AI and Chief of Executive Office, Social and
Human Sciences at UNESCO; and Rama Devi Lanka, Director of Emerging Technologies, Telangana.
About the Partnership:
i.The combined effort signifies a shared commitment to an AI-powered future that prioritises
inclusive, sustainable, and equitable development.
ii.The collaboration is set to shape the landscape of the ethical development of and use of AI.
iii.The collaboration gains further significance with the ITE&C Department’s role in shaping the
technological environment of Telangana and its commitment to advancing ethical values.
iv.The ultimate goal of this transformative collaboration is to ensure that AI technologies are
harnessed for the betterment of society,
v.Recognizing the risks associated with AI, the collaboration will also focus on effective risk mitigation
strategies to ensure the responsible use of AI.
About Telangana:
Chief Minister– K. Chandrashekar Rao
Governor– Tamilisai Soundararajan
Airports– Ramagundam Airport; Warangal Airport
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.
DGT Partners With Amazon Web Services to Enhance Students in Emerging Technologies
The Directorate General of Training (DGT) under the Ministry of Skill Development and Entrepreneurship
(MSDE) is partnering with Amazon Web Services (AWS) India to enhance students’ capabilities and
employability in emerging technologies like cloud computing, data annotation, artificial intelligence (AI), and
machine learning (ML).
• The pact aims to provide students enrolled in DGT institutions with valuable self-paced online
learning programs at no cost.
Key points:
i.Under this partnership, AWS India will offer cutting-edge learning content through DGT’s Bharat
Skills platform.
RIL & Brookfield Asset Management signed MoU to Manufacture RE & Decarbonisation
Equipment in Australia
Brookfield Asset Management signed a Memorandum of Understanding (MoU) with Reliance Industries Limited
(RIL) to explore opportunities to manufacture renewable energy and decarbonization equipment in
Australia. The MoU with RIL is a part of Brookfield’s efforts to bring global manufacturing technology and
expertise to Australia.
• The MoU aims to accelerate and de-risk Australia’s energy transition by enabling it to locally
produce clean energy equipment such as photovoltaic (PV) modules, long-duration battery storage,
and components for wind energy which will help Australia transition to a net zero future
• Under the MoU, Brookfield will work with RIL to explore direct capital investment and development
of skills, knowledge and expertise in the renewable energy sector of Australia to facilitate the
nation’s transition to a net zero future.
• The two companies will evaluate the operations in Australia to make/or assemble equipment used
in the construction of renewable energy projects supplying equipment.
• Brookfield will utilize RIL’s expertise in solar panel technology and long-duration battery storage
technology.
Note: In March 2023, Brookfield signed a binding agreement with EIG Consortium to acquire Origin Energy. As
a part of the acquisition, Brookfield and its partners are set out a plan to invest between AUD 20 billion and
AUD 30 billion over the next 10 years to accelerate its energy transition.
NHPC and ALIMCO Signed MoU for Providing Aids & Assistive Devices to Divyangjans
On 1st August 2023, the National Hydroelectric Power Commission (NHPC) signed a Memorandum of
Understanding (MoU) with the Artificial Limbs Manufacturing Corporation of India (ALIMCO) functioning
under Department of Empowerment of Persons with Disabilities,Ministry of Social Justice &
Empowerment(MSJE) to provide aids and assistive devices to 1000 Divyangjans (Persons with Disabilities) in
close proximity to NHPC projects in states in the north and north east.
AIIMS Signed MoU with IREDA for Solarization in AIIMS New Delhi Campus
On 1st August 2023, the Indian Renewable Energy Development Agency Ltd. (IREDA) and All India Institute of
Medical Sciences (AIIMS), New Delhi (Delhi) signed a Memorandum of Understanding (MOU) to initiate the
technical assessment for the solarisation of the AIIMS, New Delhi campus.
• The MoU was signed by Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, and Dr. M
Srinivas, Director of AIIMS at the AIIMS New Delhi Campus.
The partnership helps AIIMS institute to reduce its electricity expenditure while minimizing its carbon
footprint with the help of IREDA.
Key points:
i.AIIMS has installed a 9 Kilowatt Rooftop Solar plant at its New Delhi campus.
ii.Under the MoU, IREDA will undertake a techno-commercial assessment of the AIIMS campus which includes
creating financial models, conducting pre-feasibility studies, preparing a detailed project report (DPR),
assisting in the analysis of technical and commercial aspects related to project development, finalizing
commercial and contracting arrangements, and defining performance indicators, etc.
Karnataka Govt & IBC Signed MoU To Set Up Recyclable Lithium-Ion Battery Unit
On 1st August 2023, the Karnataka government and the United States (US)-based International Battery
Company (IBC) signed a Memorandum of Understanding (MoU) to set up a recyclable Lithium-ion battery
manufacturing unit with an investment of Rs 8,000 crores (USD 1 Billion) in Karnataka.
• The MoU was signed and exchanged by Venkatesh Valluri IBC President, IBC India Pvt. Ltd., and
Dr Selvakumar, Principal Secretary for the Department of Commerce and Industries.
This will be 2nd Lithium-ion manufacturing facility in Karnataka. it is expected to be established on a 100-acre
land at the Information Technology Investment Region (ITIR) at Devanahalli in the Bengaluru Rural district.
IUCN SSC & WTI Sign MoU for India’s First Species Survival Center
A Memorandum of Understanding (MoU) was signed between International Union for Conservation of Nature
(IUCN) Species Survival Commission (SSC) and the Wildlife Trust of India (WTI) to set up the first-ever
regional Center for Species Survival (CSS) in India.
• The MoU aims to enhance conservation efforts by wildlife experts and specialist groups and
safeguard the rich biodiversity of India.
• This will be the 10th CSS in the world and the first of its kind in South Asia.
• The MoU was signed by Prof. Jon Paul Rodríguez, Chair of IUCN SSC and Vivek Menon, Executive
Director and CEO, WTI.
Vision and purpose
i.CSS will act as a platform for conservation practitioners to share best practices, collaborate on species
conservation efforts, and contribute to species status assessments using the IUCN Red List of Threatened
Species.
ii.It will also bridge the gap between national and international efforts to preserve and protect species
iii.The Center will study the impact of environmental changes on species survival, providing vital insights for
conservation efforts.
iv.The center will address gaps in species assessments for species Red Lists and ensure the assessments are
aligned between national and Global IUCN Red Lists.
v.The collaboration between IUCN and WTI will enable IUCN SSC members to coordinate their efforts for
PNGRB & World Bank Partners to develop roadmap for Hydrogen transmission in Gas
pipelines
Petroleum and Natural Gas Regulatory Board (PNGRB), a regulator of natural gas distribution network,
collaborated with the World Bank to develop a roadmap for for Hydrogen transmission in Natural Gas (NG)
pipelines and City Gas Distribution (CGD) networks.
PNGRB-World Bank Study:
The PNGRB-World Bank study, which is expected to be completed within 16 weeks analyses the following:
• Mapping demand and supply of hydrogen
• Technical assessment for the compatibility of the existing pipeline network
• Commercial assessment of the pipeline sector
• Recognizing any hindrances in the policy and regulatory framework
• Framing roadmap milestones till 2040 for the expedited implementation of hydrogen blending in
India.
Key Points:
i.On 4th August 2023, a significant presentation took place at the PNGRB Office in New Delhi, Delhi.
ii.During the presentation, the PNGRB Board emphasized the need for swift action in implementing Hydrogen
Blending and optimising the use of existing energy infrastructure to achieve the National Energy Goal.
iii.The transportation of Hydrogen is best achieved through natural gas pipelines. The study aimed at
developing the Technical and Commercial viability of hydrogen blending into NG pipelines authorised by the
PNGRB Board
iv.Regulatory Frameworks are set to undergo important amendments to achieve the national target to reach 5
Million Metric Tonnes (MMT) per annum of hydrogen consumption by 2030.
v.PNGRB has also permitted 3 City Gas Distributors (CGD) to undertake hydrogen blending in NG in their
respective licensed areas and Hydrogen injection of up to 5% volume in NG has been achieved in low-pressure
Medium density polyethylene (MDPE) network.
• This move is aimed at integrating hydrogen into the existing NG infrastructure and gradually
transitioning towards a greener and more sustainable energy solution.
About Petroleum and Natural Gas Regulatory Board (PNGRB):
PNGRB was constituted under The Petroleum and Natural Gas Regulatory Board Act, 2006.
Chairperson– Dr. Anil Kumar Jain
Headquarters– New Delhi, Delhi
IISc Bengaluru & GSL Signed MoU to Develop AI for Shipbuilding & Defence
On 4th August 2023, the Indian Institute of Science,(IISc) Bengaluru & Goa Shipyard Limited (GSL) signed a
Memorandum of Understanding (MoU) to develop artificial intelligence (AI) technologies for the shipbuilding
and defense sectors.
• IISc Bengaluru’s Foundation for Science Innovation and Development (FSID) will assist GSL to
streamline shipbuilding processes, shorten construction timelines and boost overall productivity.
The partnership aims to enhance productivity, safety, and defense readiness while also strengthening
indigenous defense manufacturing capabilities.
MoU’s Signed Between USI, CSC & PCTI to Promote Military Heritage Tourism
The United Services Institution of India (USI), the country’s oldest and prestigious National Security and
Defence Services think tank, has signed a Memorandum of Understanding (MoU) with Power Conversion
Technologies (PCTI) for the inaugural Military Heritage Guided Tour at Hussainiwala in Firozpur district,
Punjab on August 12, 2023.
• An additional MoU was signed between PCTI and Common Service Centres (CSC) – e-Governance
India Limited for the local support and accessibility for these heritage sites and it will be facilitated
through CSC – special purpose vehicle (SPV).
The tour provides the tourists to view the important places related to military achievements.
Key points:
i.USI will identify potential tourist destinations and document them.
ii.PCTI will oversee the organization of the tours.
Apraava Energy signed MoUs with REC, and PFC to get Rs 9,120 cr Finance for its Various
Projects
Apraava Energy Private Ltd, Mumbai(Maharashtra) based integrated energy solution provider, signed a
Memoranda of Understanding (MoUs) with REC Ltd (Formerly Rural Electrification Corporation Limited) and
Power Finance Corporation Ltd (PFC), to get finance of Rs 9,120 crore for funding its wind, transmission, and
advanced metering projects in India.
• REC Ltd is a Navratna Public Sector Undertaking(PSU) under the Ministry of Power and PFC is a
Maharatna PSU under the Ministry of Power.
• This collaboration strengthens the strategic roadmap of Apraava Energy for sustainable and
integrated growth in the future.
Amazon India Signs MoU with EDII, Gujarat Govt. to Boost E-commerce Exports
Amazon India has signed a Memorandum of Understanding (MoU) with the Entrepreneurship Development
Institute of India (EDII) and the Cottage and Rural Industries Department, Government of Gujarat, to help boost
e-commerce exports from Gujarat.
Key points:
i.Amazon will focus on bringing weavers, artisans and other micro, small and medium enterprises (MSMEs)
from Gujarat on Amazon Global Selling, the e-commerce exports program.
ii.Through its Hastkala Setu Yojana program, the Cottage and Rural Industries Department will identify
about 1,000 artisans in handloom and handicrafts
iii.Amazon and EDII will conduct hybrid (in-person and online) training sessions and workshops
on B2C (business-to-consumer) e-commerce exports, educating the artisans on registering and listing their
products to sell on more than 18 Amazon Global Marketplaces and tools for making exports easier.
TDB-DST partnered with M/s Noccarc Robotics to Commercialise Advanced ICU Ventilator
The Technology Development Board (TDB), Department of Science & Technology (DST), has entered into an
agreement with M/s Noccarc Robotics Private Ltd., Maharashtra (Mumbai), a company dedicated to the
commercialisation of digitally enabled advanced universal Intensive Care Unit (ICU) ventilators. The entire
technology has been indigenously developed by Noccarc, with several patents filed for each component of the
ventilator.
• TDB, as a statutory body to promote the development and commercialization of indigenous
technology and the adaptation of imported technology for wider application, has promised to
support Rs 3.94 crore out of the total project cost of Rs 7.89 crore.
• Established in the Startup Incubation and Innovation Center of the Indian Institute of Technology
(IIT), Kanpur, Uttar Pradesh, M/s Noccarc embodies the spirit of innovation with its indigenously
developed technology.
• The V310, Noccarc’s entry-level ventilator, emerged as a lifeline during the COVID-19 crisis. Building
on this success, Noccarc introduces the V730i, a smart ventilator designed to redefine critical care. It
offers seamless cloud connectivity through Global System for Mobile Communication (GSM), Wi-Fi,
and Local Area Networks (LAN).
• This initiative is aligned with the Government of India’s (GoI) vision for an Atmanirbhar Bharat
(self-reliant India) and Make in India initiatives in the medical devices sector.
• Healthcare professionals can remotely track and manage patient data through Noccarc’s advanced
digital platform, which will also enable hospitals to digitize their ICU data and workflows.
AIM Partnered with ISRO & Navars Edutech to Launch National Space Innovation Challenge
2023
Atal Innovation Mission (AIM), the flagship initiative of NITI Aayog (National Institution for Transforming
India), partnered with the Indian Space Research Organisation (ISRO) and Navars Edutech Private Limited to
launch the National Space Innovation Challenge 2023 (NSIC 2023).
• NSIC 2023 is a national-level campaign designed to bridge the gap in the Indian space economy
and the future space workforce and encourage future space entrepreneurs.
• NSIC 2023 will be open from 11th August 2023 to 20th September 2023.
Note: Navars Edutech is a leading space education company based in Hyderabad, Telangana.
National Space Innovation Challenge 2023:
Aim:
To enable innovation among young school students to create awareness of and opportunities to participate in
the space sector.
NHPC Signed MoU With Universal Health Foundation to set up Gramin Gyan Jyoti Kendras
NHPC Ltd. (formerly known as National Hydroelectric Power Corporation Ltd.) the largest hydropower
development organization in India, signed an Memorandum of Understanding (MoU) with Universal Health
Foundation under its Corporate Social Responsibility(CSR) initiative.
• The MoU aims to provide basic infrastructure facilities to Universal Health Foundation for setting up
of Gramin Gyan Jyoti Kendras by NHPC Ltd in government schools located in nine villages of
Jodhpur (Rajasthan) & one village of Nagore (Rajasthan).
Additionally, The Reading Room cum Online Coaching Center facility for poor students from educationally
backward villages of Rajasthan will be made available to access modern learning tools as well as to provide
coaching for higher studies and competitive examinations.
India Signs MoU with Trinidad and Tobago for Sharing ‘India Stack’
On 17th August 2023, India and Trinidad and Tobago (T&T) signed a Memorandum of Understanding (MoU)
on sharing of ‘India Stack‘, a collection of open Application Programming Interfaces (APIs), and Digital Public
Goods(DPGs) that aim to facilitate identity, data, and payment services on a large scale.
• Under this MoU, Both India and T&T have agreed to collaborate in the areas of digital
transformation by means of capacity building, training programmes, exchange of best practices,
exchange of public officials and experts, and development of pilot or demo solutions, among others.
Key People:
The MoU was signed in the presence of officials from the Ministry of Electronics and Information Technology
(MeitY), the National E-Governance Division, MeitY, and also from the Ministry of External Affairs(MEA).
Background:
The MoU was signed following a meeting between Rajeev Chandrasekhar, Minister of State (MoS) MeitY &
Ministry of Skill Development and Entrepreneurship(MSDE), and Hassel Bacchus, a Senator and Minister of
Public Administration and Digital Transformation, T&T.
Purpose of APIs:
The collection of APIs in the India Stack serves as the foundation upon which external entities can construct
software that taps into government identification, payment networks, and data repositories.
Key Points:
i.In the meeting, they explored opportunities for collaborative efforts in areas like IT, emerging technologies,
and the India stack.
NEHHDC & Tide Signed MoU to Digitise Handloom and Handicraft Sector in Northeast India
Tide Platform Limited (Tide), a London, United Kingdom(UK)-based Small and Medium-Sized Enterprise (SME)
focused financial platform, signed a Memorandum of Understanding (MoU) with North Eastern Handicrafts and
Handlooms Development Corporation (NEHHDC) to empower digitisation of the handloom and handicraft
sector in northeast India.
• This year-long partnership aims to strengthen financial inclusion for nearly 2.1 million handloom
weavers and 3.5 million handicraft artisans across 800 clusters in Northeast India and provide them
with greater market access.
• This will enable the handloom sector to use digital tools based on Artificial Intelligence(AI), the
Internet of Things (IoT), and Enterprise Resource Planning (ERP) implementation, for inventory
tracking and mapping, among others.
• The MoU will provide entrepreneurs with the necessary tools, knowledge, and resources to
effectively plan and manage their finances.
• As part of the MoU, Tide will also help in the financial and digital inclusion of weavers and artisans
from the region and provide masterclasses on topics like leadership, marketing, capital investment,
hiring and payroll, taxation, and legal, among others.
Note:
• NEHHDC works under the Ministry of Development of the North Eastern Region (DoNER) to develop
and promote the indigenous crafts of the region by connecting craftsmen to prospective markets
and consumers.
Northeast contributes 65% of India’s total handloom production and have the highest concentration of
handloom weavers across India with around 88% of women participation.
IREDA signed MoU with MNRE; Sets FY24 Revenue Target at Rs 4350 Cr
On 21st August 2023, The Indian Renewable Energy Development Agency Limited (IREDA), a Mini
Ratna(Category I) Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy
(MNRE), signed a performance-based Memorandum of Understanding (MoU) with MNRE, Government of
India(GoI) outlining the strategic targets of IREDA for the FY 2023-24 and FY 2024-25.
• GoI has set a target of achieving Rs 4,350 crores revenue from operations during FY 2023-24 and
Rs.5,220 crores during FY2024-25.
• The MoU is in line with the guidelines issued by the Department of Public Enterprises (DPE) under
the Ministry of Finance.
Note: IREDA achieved a Revenue from Operations of Rs 3,482 crores in the preceding fiscal year (2022-23),
against a target of Rs 3,361 crores.
Key People:
The MoU was signed by Bhupinder Singh Bhalla, Secretary, MNRE; Pradip Kumar Das, Chairperson & Managing
UNDP and MDoNER Signed MoU to Accelerate Sustainable Development in Northeast India
On 22nd August 2023, the Ministry of Development of North Eastern Region (MDoNER) and the United Nations
Development Programme (UNDP), the UN’s Global Development Network, entered a memorandum of
understanding (MoU) to enhance and accelerate Sustainable Development Goals (SDGs) in northeastern
regions of India.
Key People:
The MoU was signed in the presence of B.L.Verma, Minister of State (MoS) for the Ministry of DoNER and
Ministry of Cooperation; and Ms Ulrika Modéer, United Nations (UN) Assistant Secretary-General & Director of
UNDP Bureau of External Relations and Advocacy (BERA).
Key areas:
Under this MoU, UNDP would provide MDoNER with several technical support including:
i.Fast-tracking progress on the SDGs;
ii.Monitoring, evaluation, and capacity building;
iii.Support Aspirational districts and blocks;
iv.Support in the deployment of emerging technologies in governance and in scaling up good practices.
Key Points:
i.The Ministry of DoNER has taken steps across critical sectors such as infrastructure, connectivity, health,
education, climate change, and economic growth to transform the lives of the people in the northeast region.
ii.In this collaboration, UNDP has been the key partner for the Ministry in promoting data-driven decision-
making, especially through the North East Region (NER) District SDG Index.
iii.NER District SDG Index helped in forming the flagship Prime Minister’s Development Initiative for North
Eastern Region (PM-DevINE) scheme.
iv.UNDP is committed to supporting national and sub-national efforts to speed up the progress on the goals, by
providing technical support on SDG localisation and improved capacities towards implementation and
NHPC Signs Pact with RITES to Construct Railway Siding For 2,880 MW Dibang
NHPC Limited has entered into a Memorandum of Understanding (MoU) with RITES Ltd, previously known as
Rail India Technical and Economic Service Limited to construct a railway siding at Pasighat, Arunachal Pradesh,
in support of NHPC’s 2,880 megawatts (MW), Dibang Multi-Purpose Project development.
• NHPC Limited (erstwhile National Hydroelectric Power Corporation) is a prestigious Miniratna
(Category–I) Schedule ‘A’ Public Sector Enterprise (PSE) under the Ministry of Power while RITES is
a distinguished Miniratna Schedule ‘A’ Central Public Sector Undertaking (PSU) under the Ministry
of Railways.
• NHPC’s total installed capacity is 7,097.2 MW of renewable power including Wind & Solar, through
its 25 power stations including 1,520 MW through subsidiaries.
• The strategic partnership between NHPC and RITES enhances the capabilities of both organizations.
• RITES, as a Project Management Consultant, will provide comprehensive and efficient solutions for
developing rail infrastructure facilities for NHPC Dibang and other upcoming projects in Arunachal
Pradesh.
The Dibang Multipurpose Project is a significant hydropower project undertaken by NHPC Limited in the
Dibang Valley district of Arunachal Pradesh, India. It aims to harness the potential of the Dibang River to
generate electricity and provide various benefits like irrigation, flood control, and water supply. The project’s
proposed capacity is 2,880 megawatts (MW), making it one of the largest hydropower projects in the country.
NRL and IWAI signs MoU for export of Petroleum Cargo via NW 2 & IBPR
On August 25, 2023, a Memorandum of Understanding (MoU) was signed between the Inland Waterways
Authority of India (IWAI) and Numaligarh Refinery Limited (NRL) in Guwahati, Assam to use National
Waterways (NW)-2 (Brahmaputra) and Indo Bangladesh Protocol Route (IBPR) for export of petroleum
products to Bangladesh and other south East Asian countries.
• The petroleum products will be transported through the IWAI’s upgraded jetty in Jogighopa in lower
Assam.
Note:
NRL is a Category-I Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and
Natural Gas(MoPNG) based in Assam.
Signatories:
The signing of the MoU was conducted by A Selva Kumar, Director of IWAI, and Subrata Das, Chief General
Manager (Marketing) of NRL in the presense of Union Minister Sarbananda Sonowal, Ministry of Ports,
Shipping & Waterways (MoPSW) Bhaskar Jyoti Phukan, Managing Director, NRL, and Sanjay Bandopadhyaya,
Chairman of IWAI.
GRSE Signs MoU with DEMPO Group For Building Commercial Ships
The Garden Reach Shipbuilders and Engineers (GRSE) Ltd, Kolkata, West Bengal has signed a Memorandum of
Understanding (MoU) with V.S.Dempo Holdings Private Limited (Dempo Group) for building commercial
vessels.
NITI Aayog and UNDP India Signed MoU On Fast Tracking SDGs
National Institution for Transforming India (NITI) Aayog and United Nations Development
Programme (UNDP) India have signed an Memorandum of Understanding (MoU) to speed up the efforts to
achieve the Sustainable Development Goals(SDGs).
Aim:
The agreement aims to make a clear plan of cooperation on a range of areas, including SDG localisation, data-
driven monitoring, Aspirational Districts and Blocks programme, and SDG financing.
Outcome:
i.The MoU was signed for a period of five years.
ii.UNDP will also provide support for NITI Aayog’s work on women’s livelihoods, innovation, and Mission LiFE.
iii.UNDP plays the integrator role in coordinating efforts to fast-track progress on the SDGs within the United
Nation system.
Representatives:
Yogesh Suri, Senior Adviser (SDGs) from NITI Aayog, and Ms. Shoko Noda, Resident Representative of UNDP
India, signed the MoU in the presence of B. V. R. Subrahmanyam, CEO of NITI Aayog.
SDG and India:
i.India’s achievement in reducing multidimensional poverty to 50 percent between 2015-2016 and 2019-2021
showcases that moving towards SDG is possible irrespective of complex challenges.
ii.India’s leadership is essential for ensuring that SDGs become a reality.
About Sustainable Development Goals(SDGs):
i.The Sustainable Development Goals(SDGs), officially known as ‘Transforming our world: the 2030 Agenda
for Sustainable Development’ is a set of 17 Global Goals to be achieved within 2030 by 193 Member States.
Goa Shipyard & Kenya Shipyard Ltd Signed MoU for Collaboration in Shipbuilding
The Goa Shipyard Limited (GSL) signed a Memorandum of Understanding(MoU) with Kenya Shipyard
Limited(KSL) for capacity building and collaboration in ship design and building.
• The MoU was signed during the bilateral Defence Ministers meeting between Union Defence
Minister Rajnath Singh and Kenyan Cabinet Secretary for Defence Aden Bare Duale in New Delhi,
Delhi on August 29, 2023.
Note:
i.GSL is a Miniratna Central Public Sector Undertaking (CPSU), under the Ministry of Defence(MoD).
ii.Kenya Shipyards Limited(KSL) is a state-owned company under the Kenyan Defence Ministry. It was
established in 2020 with the objective to address the operational requirements of the Kenya Navy and for the
construction, repair and maintenance of ships and provision of other maritime services.
About the bilateral meeting:
i.During the meet, India and Kenya discussed on capacity building and cooperation in defence industry and
equipment. They also discussed on the other regional security issues of mutual interest.
ii.Defece Minister Rajnath Singh presented 15 pairs of parachutes (main and reserve) manufactured by
Gliders India Limited to Aden Bare Duale for Kenyan forces as a mark of friendship.
• India also offered assistance in the setting up of an advanced CT scan facility in Kenya.
iii.India and Kenya have agreed to expand their collaboration in the Indian Ocean Region(IOR)’s marine
security, counter-insurgency training, and UN peacekeeping domains.
Key people:
Chief of Defence Staff(CDS) General Anil Chauhan and Defence Secretary Giridhar Aramane were present
during the bilateral meeting.
Additional info:
Aden Bare Duale, Kenyan Cabinet Secretary for Defence, is on a 3 day visit to India. This marks his 1st visit
of Duale to India and the highest level stand-alone political visit from Kenya since the new government
assumed office in September 2022.
• He will be visiting the shipyards and defence industries in Goa and Bengaluru(Karnataka).
About Goa Shipyard Limited(GSL):
Chairman & Managing Director(CMD) – Brajesh Kumar Upadhyay
Established – 1957
Headquarters– Vasco Da Gama, Goa
Highlights of 4th G20 DEWG & G20 DIA Summit held in Bengaluru
The 4th and the Final meeting of the G20 (Group of Twenty) Digital Economy Working Group (DEWG),
organized by Ministry of Electronics and Information Technology (MeitY) as a part of the India’s G20
Presidency, was held in Bengaluru, Karnataka from August 16-17, 2023.
• It was formally opened by the Chair of G20 DEWG Alkesh Kumar Sharma, Secretary, MeitY, and
was addressed by co-chair of G20 DEWG Sushil Pal, Joint Secretary, MeitY.
Highlights:
i.Detailed deliberations on the draft “G20 Digital Economy Ministerial Declaration” were held regarding the
priority areas: Digital Public Infrastructure, Security in the Digital Economy, and Digital Skilling.
ii.The declaration for the consideration and acceptance in the Digital Economy Ministerial Meeting (DEMM)
was undertaken.
iii.Various issues relating to digital information, service delivery to citizens and growth of the digital economy
were discussed..
iv.A joint statement on the outcome summarizing the agreement on the challenges and opportunities of digital
economies were issued.
• Click Here for Official Outcome Document
Background:
i.The first, second and third meetings of the DEWG were organised at Lucknow (Uttar Pradesh), Hyderabad
(Telangana) and Pune (Maharashtra) in February 2023, April 2023, and June 2023 respectively.
ii.India is hosting the Presidency of the G20 from December 1, 2022 to November 30, 2023 on the theme
‘Vasudhaiva Kutumbakam – One Earth One Family One Future’.
Priority Areas:
G20 DEWG has identified three priority areas
• Digital Public Infrastructure.
• Security in the Digital Economy.
• Digital Skilling.
Participants:
Union Minister Ashwini Vaishnav, Ministry of Railways and the Union Minister of State (MoS) Rajeev
Chandrasekhar, MeitY; Over 100 delegates from G20 members, nine invited countries, and five international
organizations: Organisation for Economic Co-operation and Development (OECD), International
G20 TIMM adopted G20 Trade and Investment Outcome Document and Chair’s Summary
The Group of Twenty (G20) Trade and Investment Minister’s Meeting (TIMM) was held under the India’s G20
Presidency at the Pink City of India i.e. Jaipur in Rajasthan.
• The meeting was led by Union Minister Piyush Goyal,
Ministry of Commerce and Industry (MoCI).
• The meeting concluded with the finalisation and
adoption of G20 Trade and Investment Outcome
Document and Chair’s Summary.
Key Points from Document:
The meet consensus on the following five deliverables which have
been adopted in the Outcome Document of Trade Ministerial
Meeting:
i.First deliverable involves High-Level Principles for digitalizing
trade documents, encompassing 10 principles guiding effective transition to paperless trade with emphasis on
security, interoperability, and inclusivity.
ii.A Jaipur Call for Action was issued to improve MSMEs’ (Micro, Small & Medium Enterprises) information
access, with plans for the International Trade Center (ITC), Geneva, Switzerland to upgrade its Global Trade
Helpdesk, addressing MSMEs’ information gaps with the consultation from United Nations Conference on Trade
and Development (UNCTAD) and World Trade Organization (WTO).
iii.Endorsement of G20 Generic Mapping Framework for Global Value Chains (GVCs), including data,
analysis, and representation building blocks, along with principles to enhance GVC resilience and collaboration.
iv.Sharing of best practices on Mutual Recognition Agreements (MRAs) for professional services.
v.Recognition of the need for mutual dialogues to reduce regulatory differences and trade frictions, along with
plans for a 2023 G20 Standards Dialogue to discuss regulatory practices and standards.
Note:
PM Narendra Modi addresses B20 Summit India 2023 held in New Delhi
From August 25-27, 2023, the Business 20 (B20) Summit India 2023, an official G20 (Group of Twenty)
dialogue forum with the global business community, was held in New Delhi, Delhi.
• Prime Minister (PM) of India, Narendra Modi,
addressed the summit on 27th August 2023.
• The theme of B20 India 2023 was ‘R.A.I.S.E’, an
acronym for ‘Responsible, Accelerated, Innovative,
Sustainable, Equitable‘.
• The B20 India 2023 Communique includes 54
recommendations and 172 policy actions for
submission to G20.
B20 India:
i.Throughout India’s G20 Presidency in 2023, the B20 India Secretariat, represented by the Confederation
of Indian Industry (CII), led the B20’s activities.
• The Secretariat was responsible for overseeing the development and execution of the B20
process.
ii.The chair of B20 India is Mr N Chandrasekaran, Executive Chairman, Tata Sons.
iii.At the culmination of the summit, N Chandrasekaran, Chair of B20 India handed over the B20
Presidency to Brazil.
Note: India officially assumed the G20 Presidency on December 1, 2022 after taking over from Indonesia.
Key Points:
i.It was attended by over 1500 policymakers, business leaders and experts.
ii.B20, during India’s Presidency, led the process of galvanizing global business leaders for their views on
issues of global economic and trade governance.
iii.The Summit saw the culmination of the year-long outcomes of all the B20 India Taskforces and Action
Councils.
Akhil Bhartiya Shiksha Samagam 2023 held in New Delhi: Edu Minister Dharmendra Pradhan
delivered Valedictory address
On 30th July 2023, the Akhil Bhartiya Shiksha Samagam (ABSS) 2023, an educational event was concluded
with a resolution collectively made by the education leaders to transform India into an equitable and vibrant
knowledge society. The event’s valedictory address was delivered by Union Minister Dharmendra Pradhan,
Ministry of Education (MoE).
• Union Minister Dharmendra Pradhan informed that capacity building of teachers is a priority and
around 300 institutions including 100 from school education, 100 from higher education, and 100
from skill will be developed as centres of excellence during this academic year.
Key People:
Ministers of State (MoS) Annpurna Devi; Dr. Subhas Sarkar, and Dr. Rajkumar Ranjan Singh, MoE; K Sanjay
Murthy, Secretary, Department of Higher Education, Sanjay Kumar, Secretary, Department of School Education
and Literacy, Ministry of Education and Atul Kumar Tiwari, Secretary, Ministry of Skill Development &
Entrepreneurship (MoSDE).
Inauguration:
i.On 29th July 2023, Prime Minister (PM), Narendra Modi inaugurated the ABSS (‘Shiksha Mahakumbh’, a 2-
days event), jointly organized by the MoE and the MoSDE at Bharat Mandapam in New Delhi, Delhi.
• The PM also released the 1st installment of funds under the (PM Schools for Rising India (PM SHRI)
Scheme.
• He also released education and skill curriculum books translated into 12 Indian languages.
Note: This was the first event at the Bharat Mandapam after its formal inauguration.
Significance of ABSS 2023:
This event coincided with the 3rd anniversary of the National Education Policy, (NEP) 2020, which was
implemented on 29th July 2020.
• As per NEP 2020, students should be taught in their mother tongue or regional language until Class
5.
About PM SHRI Scheme:
Under the scheme, there is the provision of setting up more than 14500 PM SHRI Schools by strengthening the
existing schools from amongst schools managed by Central Government/State/UT Government/local bodies.
• 6207 schools received the 1st installment with a total amounting to Rs.630 crore.
Highlights of ABSS:
i.The Union Minister Dharmendra Pradhan, on the 2nd day of the event, urged the education fraternity to
convert this education Mahakumbh into an All India Institution and strengthen the school ecosystem.
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.
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.
INDEX
RANKING
Fortune Global 500 list of 2023: Walmart tops the list followed by Saudi Aramco and State Grid
On 2nd August 2023, Fortune, a global media organisation released the 69th edition of Fortune Global 500
list of 2023, an annual ranking of the largest 500 corporations across the world as measured by total revenue
for Fiscal Year 2023 (FY2022-23). Walmart tops the list for the 10th consecutive year, followed by Saudi
Aramco and State Grid in the 2nd and 3rd positions respectively.
• Walmart, an American (United States of America (US)) Retail and Wholesale company with USD
611.3 billion in revenue;
• Saudi Aramco, a Saudi Arabian (United Arab Emirates (UAE)) Mining and Crude-Oil Production
company with USD 603 billion; and
• State Grid, a Beijing (China)-based power company owned by the Government of China with USD
530 billion in the 3rd position.
Note:
• Saudi Aramco earned the highest annual total ever for a Fortune Global 500 company with USD 159
billion.
Key Points:
i.The companies are ranked by total revenues for their respective fiscal years ended on or before March 31,
2023.
ii.The list was released on the basis of the parameters such as Revenues, Profits, Balance sheet, Employees,
Medians, and Credits.
WTO’s WTSR 2023 Report: India Ranked 18th Among Merchandise Exports
According to the World Trade Statistical Review 2023, (WTSR 2023) the annual flagship publication of the
World Trade Organization (WTO) featuring key data on global trade in merchandise and commercial services,
India is ranked 18th among the Leading exporters in world merchandise trade (2022).
• India is ranked 9th among the merchandise importers.
• China, the United States of America(USA), and Germany are the top 3 exporters in world
merchandise trade 2022.
• USA, China and Germany are the top 3 importers in World Merchandise Trade 2022.
Note: WTSR replaces International Trade Statistics, the WTO’s former annual statistical publication.
Points to note:
i.India is ranked globally 7th among exporters and 9th among importers in world in commercial services 2022.
ii.Commercial services exports of India registered a very strong
206% increase.
Exporters in world merchandise trade, 2022
Value
Rank Exporters ( in USD Billion) Share (%)
1 China 3594 14.4
REPORTS
Status of Tigers: Co-Predators & Prey in India-2022 Report: Tiger population in India estimates
to be 3,925
Ashwini Kumar Choubey, Union Minister of State, Ministry of Environment, Forest and Climate Change
(MoEF&CC), released the detailed report of All India Tiger Estimation – 2022 titled “Status of Tigers: Co-
Predators & Prey in India-2022” during the event orgnised as a part of the Global Tiger Day (29th July 2023) at
Corbett Tiger Reserve in Uttarakhand.
• According to the report by National Tiger
Conservation Authority (NTCA), Tiger Population in
India is estimated to be 3,925 with an annual growth
rate of 6.1% per annum.
• India currently retains almost 75% of the world’s
wild tiger population.
Background:
i.On 9th April 2022, during the celebration of 50 years of the
Project Tiger at Mysusru, Karnataka, Prime Minister (PM)
Narendra Modi declared the minimum tiger population of 3167,
population estimate from the camera-trapped area.
ii.According to the further analysis of data by the Wildlife Institute of India, from both camera-trapped and
non-camera-trapped tiger presence areas ,the upper limit of the tiger population is estimated to be 3925 and
the average number is 3682 tigers.
Key Points:
i.Currently, more than 3/4th of the tiger population in India is concentrated within protected areas.
ii.Madhya Pradesh has the largest tiger population with 785 tigers, followed by Karnataka with 563,
Uttarakhand with 560, and Maharashtra with 444.
WHO Report on Global Tobacco Epidemic 2023: 5.6 Billion People Protected by at Least One
Tobacco Control Measure
The World Health Organization (WHO) released the “’WHO report on the global tobacco epidemic, 2023:
Protect people from tobacco smoke“, the 9th report in the series that tracks the status of the tobacco epidemic
and interventions to combat it. The report monitors countries’ progress in tobacco control since 2008 and also
marks 15 years since the introduction of MPOWER,WHO’s technical package which is designed to assist
countries in implementing demand-reduction measures of the WHO Framework Convention on Tobacco
Control (WHO FCTC).
• The report state that around 5.6 billion people (71% of the world’s population or 7 in 10 people
globally) are protected with at least one best practice of tobacco control measure, a 5 times increase
from 2007.
• The report showed that 2 new countries, Mauritius and the Netherlands, have achieved best-
practice level in all MPOWER measures. Until now, this was achieved by only Brazil and Türkiye.
• Mauritius has become the first African country to fully implement the entire MPOWER
Measures. It has recorded a 25% decline in the prevalence of smoking among adults between 1992
and 2021.
What is WHO’s MPOWER Package?
WHO introduced the MPOWER measures in 2008.MPOWER are a set of six cost-effective and high impact
measures that help countries reduce demand for tobacco. These measures include:
• M- Monitor tobacco use and prevention policies
• P- Protect people from tobacco smoke
• O- Offer help to quit tobacco use
• W- Warn about the dangers of tobacco
• E-Enforce bans on tobacco advertising, promotion and sponsorship
• R- Raise taxes on tobacco
About the Report:
It focuses on the ‘P’ in the MPOWER measures i.e. protecting the public from second-hand smoke.It also
highlights that almost 40% of countries now have completely smoke-free indoor public places.
Note: The Global Tobacco Epidemic Report initiated in 2008, is a biennial report by WHO.
Highlights from the Report:
Global Tobacco Control:
i.2.1 billion people in 74 countries are covered by complete smoke-free indoor public places, workplaces, and
public transport, a seven-fold increase since 2007.
ii.Global smoking prevalence decreased from 22.8% in 2007 to 17% in 2021, preventing 300 million additional
smokers.
iii.151 countries have adopted one or more WHO MPOWER measures, a significant rise since 2007.
Union Minister Dharmendra Pradhan releases ‘State of School Education in Rural India’ report
Union Minister Dharmendra Pradhan, Ministry of Education released India’s first “State of School
(Elementary) Education in Rural India” report during the Transforming Rural India (TRI)’s India Rural
Colloquy 2023 (IRC) held in India Habitat Centre, New Delhi, Delhi.
• The report revealed that a total of 78% of parents of girls and 82% of parents of boys wanted to
educate their children to graduation and above.
• The report aims to provide data along with the right analytics and insights to stimulate the
development of rural India.
About the Report:
i.The report is based on an analysis of survey of 6229 parents across 21 States/Union territories (UTs) of India.
The study focused on children in rural communities between the age group of 6-to-16-year-old.
• Out of the 6,229 rural households surveyed, 6,135 had school-going students, 56 had students who
dropped out of school, and 38 had children who had never enrolled in school.
ii.The pan-India survey was spearheaded by the Development Intelligence Unit (DIU) in collaboration with
the Transforming Rural India Foundation (TRI) and Sambodhi Research and Communications Pvt. Ltd.,
Noida, Uttar Pradesh(UP).
iii.The report examines various aspects of learning environments and parental engagements and also
illuminates the evolving parental attitudes toward girls’ education in rural India.
Report Analysis:
i.School Drop-out Rate: The data reveals that one-fourth of male children dropped out of school during
primary schooling and the female primary school dropout rates were higher, with around 35%.
• Around 75% boys and 65% girls dropped out of school after completing primary school education.
Ministry of Jal Shakti Releases Report on 6th Census on Minor Irrigation Schemes
On 26th August 2023, the Ministry of Jal Shakti (MoJS), Department of Water Resources (WR), River
Development, and Ganga Rejuvenation (DoWR, RD & GR) released the All India (volume-I) and State-wise
(Volume-II) report on 6th census on Minor Irrigation (MI) schemes.
• This report will be useful for planners, researcher scholars, agricultural and groundwater scientists,
and all concerned with the development of irrigation and the agricultural economy of India.
Key Points:
i.As per the report, 23.14 million MI schemes have been reported in India, out of which 21.93 million are
Ground Water (GW) and 1.21 million are Surface Water (SW) schemes.
ii.The report reveals that, for the first time, information regarding the gender of individual owners of MI
schemes has been systematically collected. Among individually owned MI schemes, 18.1% are owned by
women.
iii.Uttar Pradesh holds the largest number of MI schemes in India followed by Maharashtra, Madhya Pradesh,
and Tamil Nadu.
Ground and Surface Water Schemes:
i.Leading States in GW schemes are Uttar Pradesh, Maharashtra, Madhya Pradesh, Tamil Nadu, and Telangana.
• GW schemes comprise dugwells, shallow tube wells, medium tube wells, and deep tube wells.
ii.In SW schemes Maharashtra, Karnataka, Telangana, Odisha, and Jharkhand have the highest share.
• The SW schemes comprise surface flow and surface lift schemes.
iii.There has been increase of about 1.42 million in MI schemes during 6th MI census as compared to 5th
Census. At National level, Both GW and SW schemes have increased by 6.9% and 1.2%, respectively.
iv.Dug wells have the highest share in MI schemes followed by shallow tube wells, medium tube wells, and
deep tube wells.
• Maharashtra is the leading State in dug wells, surface flow, and surface lift schemes.
• Uttar Pradesh, Karnataka, and Punjab are the leading States in shallow tube wells, medium tube
wells, and deep tube wells, respectively.
v.In GW schemes, the share of private entities in the ownership is 98.3% whereas in SW schemes the respective
share is 64.2%.
National
Indore Surat Agra
Smart City
(Madhya Pradesh) (Gujarat) (Uttar Pradesh)
Award
Rajasthan
State Award Madhya Pradesh Tamil Nadu
Uttar Pradesh
UT Award Chandigarh
Eastern
Ranchi(Jharkhand), Bhubaneswar(Odisha)
Zone
Southern
Coimbatore(Tamil Nadu), Belagavi(Karnataka)
Zone
Western
Ahmedabad(Gujarat),Solapur(Maharashtra)
Zone
Partner Awards
Industry
Larsen & Toubro LC Infra Projects
(Infrastruct Enviro Control Private
(L&T) Pvt. Ltd.
ure)
Honeywell
Industry L&T Construction- Nippon Electric Company
Automation India
(MSI) Smart World Division (NEC) India
Limited
Partner
Recognition: PwC India
PMC
Innovation Awards
Agra(UttarPrades
Indore(Madhya h): Covid 19
Covid Surat(Gujarat) Covid 19
Pradesh): Covid 19 Response
Innovation Response Category –
Response Category – Category –
Award Multiple Initiatives
Multiple Initiatives Multiple
Initiatives
Project Awards
New
Town Kolkata(W
est Bengal):
Landscape
Redevelopment of
Indore(Madhya NeemBanani Park
Coimbatore(Tamil
Built Pradesh): Riverfront and other Green
Nadu): Model Roads,
Environmen Development (Stretch 1 Open Spaces
Restoration and
t from Rambagh bridge to
Rejuvenation of Lakes
KrishnapuraChhatri) Kanpur(UttarPra
desh):
Modernisation
and Development
of Palika Sports
Stadium
Ahmedabad(Gujarat): Bhopal(Madhya
Thanjavur(Tamil
Revamping and up keep Pradesh): Restoration of
Nadu):
of heritage structure heritage buildings near
Culture Conservation of
and development of the SadarManzil precinct
Ponds –
heritage tourism using under Heritage Walk
Ayyankulam
technology Project
Jabalpur(Madhya Indore(Madhya
Lucknow: Rojgar
Economy Pradesh): Incubation Pradesh): Value Capture
Training Centre
Centre Financing (VCF)
Sagar(Madhya
Pradesh):
Chandigarh: Public New Town Kolkata(West
Intelligent Traffic
Mobility Bike Sharing (PPP) Bengal): Promoting Non-
Management
along with cycle tracks Motorized Transpor
System improving
road safety
Ahmedabad(Guj
arat): Door-to-
door waste
collection
Indore(Madhya Kakinada(Andhra monitoring
Sanitation Pradesh): Gobardhan Pradesh): Solid Waste
Bio-CNG Plant Management System Chandigarh:
Provision of
SCADA for Solid
Waste
Management
Raipur(Chhattisg
arh): B.P Pujari
School –
Vadodara(Gujarat): Upgradation of
Agra(UttarPradesh):
Implementation of Hindi Medium
Social Smart Health Centers
Hospital Management Schools to School
Aspects (PPP) and Upgradation of
Information System of Excellence in
municipal schools
(HMIS) English Medium
Thoothukudi(Ta
mil Nadu): Smart
Indore(Madhya
Shivamogga(Karnatka):
Urban Pradesh): Air quality Jammu(Jammu
Development of
Environmen improvement and and Kashmir): E-
Conservancies in
t Ahilya Van along with auto for old city
Package-2
Vertical Garden
Indore(Madhya
Pradesh): Saraswati and
Kahn Lifeline Project Agra(UttarPradesh):
(SANKALP), Rainwater Proving 24/7 water Rajkot(Gujarat):
Water Harvesting – “WATER supply to ABD area along Rejuvenation of
PLUS TO WATER with smart water meters Atal Sarovar
SURPLUS” and and SCADA systems
Rejuvenation of Lakes,
Wells and Stepwells
About Smart Cities Mission(SCM):
i.The Smart Cities Mission was launched on June 25, 2015, aims to provide basic infrastructure, a clean and
sustainable environment, and a good quality of life to their residents through the use of’smart solutions’.
ii.The 100 Smart Cities have taken up projects across diverse sectors including mobility, energy, water,
sanitation, solid waste management, vibrant public spaces, social infrastructure, smart governance.
• Under the SCM, the Integrated Command and Control Centers (ICCC) is operating in all 100
Smart Cities.
iii.6,041(76%) of the total proposed projects under SCM have been completed, and the remaining 1,894
projects worth 60,095 crore will be finished by 30 June 2024.
Recent related news:
In June 2023, the Ministry of Housing and Urban Affairs (MoHUA) launched the Field Assessment for the
8th edition Swachh Survekshan (SS) 2023 – Mera Shehar, Meri Pehchan.
About Ministry of Housing and Urban Affairs(MoHUA):
Union Minister– Hardeep Singh Puri(Rajya Sabha- Uttar Pradesh)
Minister of State– Kaushal Kishore (Constituency- Mohanlalganj, Uttar Pradesh)
“Champaran Mutton”: 1st Indian Movie to enter semifinals of Oscar’s Student Academy Awards
Indian film “Champaran Mutton” directed by Ranjan Kumar(Bihar), from the Film and Television Institute of
India(FTII) in Pune, Maharashtra, has made it to the semifinals of the Oscar’s Student Academy Awards (SAA)
2023, 49th edition of SAA, an international student film competition.
• The film is being judged in the Narrative category of the Student Academy Awards 2023.
• This is the first Indian film to enter the semifinals of the SAA, which was established in 1972.
• The film beautifully embodies the unyielding spirit of Bihar’s people. Bajjika dialect,’ primarily
spoken in regions encompassing Vaishali, Muzaffarpur, and Begusarai, serves as the linguistic
foundation for ‘Champaran Mutton’.
Categories of SAA: Animation, Documentary, Live Action Narrative and Alternative/Experimental.
i.RRR(Rise Roar Revolt), a Telugu film directed by S. S. Rajamouli, has won the most number of
awards i.e. 6 at the 69th National Film Awards.
• The Hindi movie ‘Gangubai’ Kathiawadi and Sardar Udham received five awards each.
ii.Rocketry: The Nambi Effect, directed by R Madhavan won the Best Feature Film award.
• Rocketry: The Nambi Effect is a biographical drama based on the life story of Indian Space Research
Organization(ISRO) scientist Nambi Narayanan, who was accused in the ISRO espionage case and later
exonerated.
iii.Ek Tha Gaon directed by Srishti Lakhera won the Best Non-Feature Film award.
• Ek Tha Gaon is a documentary film on a Ghost Village made in Garhwali and Hindi language.
iv.The Kashmir Files directed by Vivek Ranjan Agnihotri won the Nargis Dutt Award for Best Film on
National Integration.
Best Actor and Actress:
i.Telugu Actor Allu Arjun won the Best Actor award for the film Pushpa (The Rise Part I). With this, he
became the first Telugu actor to win the National Award under Best Actor category.
ii.The Best Actress award was shared by Alia Bhatt for Gangubai Kathiawadi and Kriti Sanon for Mimi.
Iravin Nizhal
(Shadow of the (Song : Maayava Rs.
Best Female Playback Singer Night) Tamil Chaayavaa) 50,000/-
Cameraman: Avik Rs.
Best Cinematography Sardar Udham Hindi Mukhopadhayay 50,000/-
Screenplay writer
Nayattu (The (original): Shahi
Hunt) Malayalam Kabir
Screenplay Rs.
Gangubai writer(Adapted): 50,000/-
Best Screenplay Kathiawadi Hindi (each)
Pushpa (The
Rise Part I) Telugu Devi Sri Prasad
Music Director
(Background Score) :
Rs.
50,000/-
Best Music Direction RRR Telugu M.M. Keeravaani (each)
Lyricist:
Chandrabose
Category of Medal
Title Of The Film Awardee
Award & Cash Prize
Best Assamese Anur (Eyes on the Producer: Gopendra Mohan Das Rs. 1,00,000/-
Film Sunshine) Director: Monjul Baruah (each)
Best Gujarati Last Film Show Producer: Jugaad Motion Pictures Rs. 1,00,000/-
Film (Chhello Show) Director: Pan Nalin (each)
Kadaisi Vivasayi (The Last Farmer) Tamil Actor: Late shri Nallandi
GoI appointed Sanjay Kumar Agarwal as CBIC Chairman & Surjit Bhujabal as CBIC Member
On 5th August 2023, the Government of India (GoI) appointed Sanjay Kumar Agarwal as the Chairman of the
Central Board of Indirect Taxes and Customs (CBIC), an apex policy-making body for indirect taxes under the
Department of Revenue under the Ministry of Finance.
Scientist and Defense Expert Vijay Kumar Saraswat Appointed As The Chairman of QETCI
Quantum Ecosystems Technology Council of India (QETCI) has announced the appointment of scientist and
defense expert Dr. Vijay Kumar Saraswat as Chairman of the Governing Board.
About Vijay Kumar Saraswat:
i.Saraswat who was born on 25th May 1949, at Gwalior, Madhya
Pradesh was formerly the Secretary of the Defence Research &
Development Organization (DRDO) and the Chief Scientific Advisor
to the Indian Minister of Defence.
ii.His areas of specialization include defense research in both basic
and applied sciences as well as national supercomputing systems.
iii.He has been credited with the development of Liquid Propulsion
Rocket Engines and missiles namely PRITHVI, DHANUSH, and
PRAHAAR.
iv.He is a member of the National Institution for Transforming India (NITI Aayog) and Co-Chair for the Prime
Minister’s Science Technology and Innovation Advisory Committee (PMSTIAC).
v.He played a key role in setting up the Photonics Valley Corporation at Telangana and initiated a program for
the development of Silicon-Photonics Technology.
Awards
He has been conferred with many prestigious awards including the highest civilian awards like the Padma
Shri (1998) and Padma Bhushan (2013) in the field of Science and Engineering.
Note: QETCI a not-for-profit-Section 8 company. It is a think tank and an ecosystem entity dedicated to
enabling and accelerating the Quantum Ecosystem in India. It is headquartered in Hyderabad, Telangana.
Indian Oil Chairman Shrikant Madhav Vaidya Gets 1 Year Post-Retirement Extension
The Appointments Committee of the Cabinet (ACC) approved the proposal of the Ministry of Petroleum and
Natural Gas (MoP&NG) and extended the tenure of Shrikant Madhav Vaidya, Chairman of Indian Oil
Corporation Ltd (IOCL), for a period of 1 year beyond the date of his superannuation i.e with effect from
September 1, 2023, till August 31, 2024, or till the time of appointment of the regular incumbent to the post on
contract basis.
Niger Military Junta Appoints Ali Mahaman Lamine Zeine as Transitional PM of Niger
On 7th August 2023, the Military Junta of the Republic of Niger appointed Ali Mahaman Lamine Zeine, an
economist and former Minister of finance of Niger Republic, as a transitional Prime Minister (PM) of Niger,
according to a decree by General Abdourahmane Tchiani, who is the self-declared Head of State of the
Transitional Government of Niger.
• The appointment comes nearly 2 weeks after the
military coup dismissed President Mohamed Bazoum,
who was democratically elected in 2021.
• Ali Mahaman Lamine Zeine is the current Country
Manager of the African Development Bank (AfDB) in
Chad (Africa).
Note:
• Abdourahmane Tchiani, who also assumed head of the
National Council for the Safeguard of the Homeland
(CNSP) in Niger.
• He is the former Commander of Niger’s presidential guard, who dismissed President Mohamed
Bazoum and suspended the constitution on July 26, 2023.
About Ali Mahaman Lamine Zeine:
i.From 2001 to 2010, he served as Cabinet Director and Finance Minister in the cabinet of President
Mamadou Tandja, who led the country from 1999 to 2010 and was overthrown in 2010 by Major Salou Djibo.
ii.He also served as the AfDB’s Country Manager in Côte d’Ivoire (also known as Ivory Coast) and Gabon of
Africa.
Supreme Court Forms All Women Team led by former J&K CJ Gita Mittal to Oversee Relief in
Manipur
Supreme Court of India(SC) is set to constitute an all-women committee of 3 former High Court judges led by
former Chief Justice(CJ) of Jammu and Kashmir (J&K) High Court (HC) Gita Mittal to oversee the relief
rehabilitation and rebuilding measures in Manipur.
• The other members of the team include
Justices Shalini Shashank Phansalkar Joshi, former
Judge of Bombay HC and Justice Asha Menon, former
Judge of Delhi HC.
• The committee was constituted by the SC bench
comprising Dhananjaya Yeshwant Chandrachud, Chief
Justice of India(CJI); Justice Jamshed Burjor Pardiwala
and Justice Manoj Misra.
Note: Gita Mittal was the 1st woman CJ of the J&K and Ladakh
High court (2018-2020).
Responsibilities of the All women’s team:
This will be a broad-based committee that will supervise, intervene and monitor relief and rehabilitation,
restoration of homesteads, religious places of worship, better relief work, and others.
Other Appointment:
The Supreme Court has also appointed Dattatray Padsalgikar, retired IPS officer of Maharashtra Cadre & former
Director General of Police(DGP) of Maharashtra, to monitor the overall investigation of criminal
cases(excluding 12 cases referred to the Central Bureau of Investigation(CBI)) from 42 state police Special
Investigation Teams (SITs).
Key Points:
i.The supreme court has directed the Director General of Police (DGP) from 6 different states to nominate 6
officers of Deputy Inspector General (DIG) rank to supervise the SITs formed for these cases.
ii.They will be deputed to the CBI and carry out the investigation under the supervision of the joint Director of
the CBI.
iii.This aims to enforce multiple layers of monitoring to ensure a fair and thorough investigation.
Note:
Solicitor-General Tushar Mehta, representing the government of Manipur, stated that 11 cases related to sexual
violence against women, including the Thoubal sexual violence incident were transferred to CBI.
Violence in Manipur:
i.On 3 May 2023, ethnic violence erupted in Manipur between the Meitei people, a majority that lives in the
Imphal Valley, and the Kuki tribal community from the surrounding hills.
Infosys Ropes in Tennis Icon Rafael Nadal as Brand Ambassador for Digital Innovation
Infosys Limited, an Indian multinational information technology (IT) company, has signed a 3 years
partnership with Spanish Tennis Icon Rafael Nadal appointing him as the ambassador for its brand and Infosys’
Digital Innovation.
• Infosys and Rafael Nadal entered into a three-year
partnership.
• This marks Nadal‘s first-ever collaboration with a digital
services company.
Infosys’s association with Tennis:
i.Infosys is the digital innovation partner for the ATP (Association of
Tennis Professionals) Tour, Roland-Garros, Australian Open, and The
International Tennis Hall of Fame.
• It helped to reimagine the tennis ecosystem for a billion fans
globally leveraging AI, cloud, data analytics and digital experiences.
ii.Infosys introduced video and statistics analysis tools for players and coaches to modernise training, and it
enhanced match analysis with Artificial intelligence (AI)-assisted journalism platforms for broadcasters to
broadcast interesting content.
iii.Infosys innovations for the tennis ecosystem include explorations in the digital universe including mixed
reality, social virtual reality (VR) and 3 3-dimensional art museums to expand the history, and heritage of
tennis to fans globally.
iv.It recently launched the first-of-its-kind sustainable technology tool ‘Carbon Tracker’, which allows ATP
players to track and reduce their emissions while on tour.
v.To mark this partnership, Infosys and Nadal’s coaching team are developing an AI-powered match analysis
tool.
• This personalized tool helps Nadal’s coaching team to simultaneously track insights from his live
matches, along with historical data from his earlier matches.
About Rafael Nadal:
i.He has won 22 Grand Slams in his career, the second most in the world after Novak Djokovic (23 Grand
Slams).
• The 22 titles includes 14 French Open titles 4 US open 2 Wimbledon, 2 Australian Open
ii.He won a gold medal at the 2008 Beijing Olympics and a gold medal in doubles at the 2016 Rio Olympics.
Infosys Signs Women’s Tennis World No. 1 Iga Świątek as Brand Ambassador
Infosys Limited also signed a multi-year partnership with women’s tennis World No. 1 Iga Świątek of Poland,
appointing her as the ambassador to promote digital innovation and inspire women worldwide.
About the Partnership:
i.Under this collaboration, Infosys will work closely with Świątek team to build an advanced data analytics and
video dashboard.
Paytm Founder & CEO Vijay Shekhar Sharma buys 10.3% stake from Antfin; Paytm share price
surges ~12%
On 7th August 2023, Shares of One 97 Communications Ltd, the parent company of Paytm, jumped
over 11.6%(~12%) to Rs. 887.55 on BSE (formerly Bombay Stock Exchange) during intra-day trade,
after Vijay Shekhar Sharma, founder and Chief Executive Officer (CEO) of Paytm entered into an agreement to
buy 10.3% worth USD 628 Million from Ant Financial (Antfin) Netherlands Holding BV, a Chinese fintech via
Resilient Asset Management BV (Resilient), a 100% owned overseas entity of Vijay Shekhar Sharma.
• As a result of this transaction, Vijay Shekhar Sharma’s shareholding in Paytm (direct and indirect)
will increase to 19.42%, whereas Antfin’s shareholding will reduce to 13.5%.
• As per the agreement, Antfin will receive Optionally Convertible Debentures (OCDs) by Resilient
Asset Management B.V. in exchange for transferring ownership and voting rights. This will allow
Antfin to retain the economic value of its 10.30% stake in Paytm.
• The Paytm-Antfin deal is likely to India’s biggest buy now, pay later deal. It involves a cash outgo,
but only later.
• As a result of this acquisition, there will be no change in the management or control of Paytm. Vijay
Shekhar Sharma will continue to serve as the Managing Director and CEO of the company. However,
there will be no nominee of Antfin on the board of Paytm
CCI approves merger of TCCL and TCFSL into TCL; Clears proposed acquisition of
HDFC Credila Financial Services
On August 8, 2023, the Competition Commission of India (CCI) approves merger of Tata Cleantech Capital
Limited (TCCL) and Tata Capital Financial Services Limited (TCFSL) into Tata Capital Limited (TCL).
Key Points:
i.TCL, registered with the Reserve Bank of India (RBI), is a Core Investment Company (CIC). Its main focus is on
investing in its subsidiary companies operating in the financial services sector
ii.TCFSL, fully owned by TCL, is an important Non-Banking Financial Company (NBFC) under RBI’s supervision.
Its core operations include lending and providing financial services within the financial sector.
iii.TCCL, another subsidiary of TCL, is also an RBI-registered NBFC. It specializes in offering cash flow-based
finance and advisory services for projects centered around renewable energy, energy efficiency, waste and
water management, and other infrastructure ventures.
CCI clears proposed acquisition of HDFC Credila Financial Services
CCI also approved the combination involving the acquisition of 90% of the shareholding of HDFC Credila
Financial Services Limited(HDFC Credila) by Kopvoorn B.V., Moss Investments Limited, Infinity Partners and
Defati Investments Holding B.V.
CCI Approves Acquisition of Certain Stake of IBS Software Pte Limited by Pelipper HoldCo SARL
The Competition Commission of India (CCI) has approved the acquisition of ~ 30% of the issued share capital
on a fully diluted basis of IBS Software Pte Limited by Pelipper HoldCo SARL from Techware Singapore
Holdings Pte. Ltd., a portfolio company of Blackstone Inc.
• Pelipper HoldCo SARL is a special-purpose vehicle (SPV) indirectly wholly owned by investment
funds advised by Apax Partners LLP (AP).
Target– IBS Software Pte Limited
Acquirer– Pelipper HoldCo SARL
Seller – Blackstone Inc.
Background:
i.In May 2023, IBS Software, a global travel and logistics Software-as-a-Service (SaaS) company announced,
Apax Partners LLP (AP) Funds have made an investment of USD 450 million to acquire a minority stake in IBS
Software.
ii.Post the latest transaction, V K Mathews, IBS Software’s Founder and Executive Chairman will remain the
majority shareholder.
Key Points:
i.AP is a limited liability partnership incorporated under the laws of the United Kingdom (UK) and the parent of
a number of entities, which provide investment advisory services to private equity funds investing in a range of
industry sectors.
ii.IBS Software Pte Limited is the parent company of the IBS group of companies (Target Group), which is
mainly active as a software vendor, predominantly for the aviation industry and the travel industry.
• It also provides Information Technology (IT) services to its own existing customers, mainly aviation,
tour & cruise, hospitality, and energy resources industries.
iii.Target Group is primarily active as a provider of software solutions to the travel industry globally, managing
mission-critical operations for customers in the aviation, tour & cruise, hospitality, and energy resources
industries.
Luna-25 crashed into the Moon; Russia’s 1st Moon mission in 47 years Failed
Russia’s first lunar mission in 47 years, Luna-25, failed as the space craft spun out of control and crashed into
the moon after a problem preparing for pre-landing orbit(orbital maneuver).
Reason behind the Crash:
Roscosmos, State Space Corporation of Russian Federation,
announced that the initial analysis of the moon lander indicates that
a difference between the planned and actual propulsion maneuver
caused the spacecraft to move into an unintended orbit.
Background:
Luna-Glob-Lander (Luna-Glob-1), also known as Luna-25, was
launched on 10th August 2023 atop a Soyuz-2.1b rocket(Soyuz-2
Fregat) from the Vostochny Cosmodrome in Russia.
• It was anticipated to land near the lunar south pole on
21st August 2023.
About Luna-25:
i.The objective of Luna-25 is to Explore the composition of the polar regolith and to Investigate the plasma and
dust components of the lunar polar exosphere for one year.
ii.The main landing site was north of Boguslavsky crater and the reserve landing site was to the southwest of
Manzini crater in Moon.
Note:
• Luna 25 was launched as a precursor for more advanced lunar endeavors, paving the way for the
upcoming Luna-26 and Luna-27 missions.
• Luna 25 was named in continuation of robotic probe programme of Soviet Union – Luna 24
mission which brought back moon rock back to earth in 1976.
About Russia:
President – Vladimir Putin
Capital – Moscow
Currency – Russian Ruble
Bharat Dynamics Limited Hands Over 1st ‘Radio Frequency Seeker of Akash’ to DRDO
On 2nd August 2023, Bharat Dynamics Limited (BDL) has handed over the first Radio Frequency (RF) Seeker of
the Akash Next Generation(Akash-NG) Missile to the Defence Research and Development Organization
(DRDO).
• The 1st RF Seeker was handed over by Commodore A Madhavarao (Retired), Chairman and
Managing Director of BDL to Dr Samir V Kamat, Secretary, Department of Defence Research &
Development and Chairman DRDO.
About Seeker:
i.Seeker is a crucial and technologically advanced subsystem used in the terminal phase of Surface-to-Air
Missiles and Air-to-Air Missiles for target tracking.
ii.The RF Seeker has been designed by DRDO’s Research Centre
Imarat,Vigyanakancha,Hyderabad, Telangana and produced by BDL at its state-of-the-art Seeker Facility Centre
set up at BDL, Kanchanbagh Unit,Hyderabad.
iii.This achievement marks a significant advancement in India’s defence capabilities and underlines the
country’s determination to becoming “Atma Nirbhar” in critical Defence Technologies.
About Akash Next Generation(Akash-NG) Missile:
i.Akash-NG Missile is the short-range mobile surface-to-air missile system (SRSAM) developed by DRDO.
ii.It has an Operation range of 4.5 km to 25 kmand can travel up to 2.5 times the speed of sound (2.5 Mach)
About Bharat Dynamics Limited (BDL):
BDL is a miniratna I Central Public Sector Enterprises (CPSE) under the Ministry of Defence, Government of
India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed
Forces.
Chairman and Managing Director – Retired Commodore A Madhavarao
Established – 1970
Headquarters – Hyderabad, Telangana
NASA & Axiom Space Have Signed a Mission Order for Ax-4
NASA and Axiom Space have signed a mission order for the 4th private astronaut mission to the International
Space Station (ISS), named Axiom Mission 4 (Ax-4) scheduled to launch in 2024 on Falcon 9 rockets from
National Aeronautics and Space Administration’s (NASA) Kennedy Space Center in Florida, United States of
America (USA).
• Ax-4 is part of Nasa’s broader strategy to transition low Earth orbit activities.
• The Ax-4 mission will involve a team of four crew members.
i.The mission helps in laying the groundwork for the world’s first commercial space station, Axiom Station.
ii.Axiom Space is obtaining Nasa services through both a mission-specific order and a reimbursable Space Act
Agreement.
Russia launches Luna-25 Mission to Moon, its 1st Lunar Probe in 47 years
On 11th August 2023,Russia successfully launched Luna-25 Mission onboard the Soyuz 2.1b Fregat rocket to
the Moon from the Vostochny Cosmodrome in Russia (Russian Far East).
• This is Russia’s first moon mission since 1976
• Luna-25 is also the first domestically produced moon
probe in modern Russian history.
Note: A moon probe is a crewless (unmanned) spacecraft used to
investigate the Moon.
Aim:
With the Luna-25 mission, Russia aims to achieve the distinction
of being the first country to achieve a soft landing on the lunar
south pole, a region believed to hold valuable reservoirs of water
ice.
• The lander is expected to touch down on the moon on August 21, 2023. Once down safe, Luna-25
will work on the moon’s south pole for at least one Earth year.
Note: Both Luna-25 and India’s Chandrayaan 3 probe are expected to achieve their respective landings around
the same time and in the same general area.
Agnikul Cosmos Begins Integration Process of its First Launch Vehicle ‘Agnibaan SOrTeD’
from Sriharikota
On 15th August 2023, Agnikul Cosmos Private Ltd, a space-tech start-up, commenced the process of
integration of its first state-of-the-art launch vehicle, Agnibaan SOrTeD (Sub-
Orbital Technological Demonstrator), with its exclusive private launchpad at Satish Dhawan Space Centre
(SDSC) SHAR (formerly Sriharikota Range) at Sriharikota, Andhra Pradesh(AP).
• The integration process is the significant step taken by the Agnikul Cosmos, toward its first
controlled sub-orbital flight, which brings Agnikul closer to fulfilling its vision of delivering reliable
and affordable access to space.
Note: In December 2020, Agnikul became the 1st Indian company to sign an agreement with Indian Space
Research Organisation (ISRO) to get access to ISRO’s expertise and facilities to build Agnibaan and its
launchpad.
Agnibaan SOrTeD:
i.Agnibaan SOrTeD is a single-stage launch vehicle powered by
Agnikul’s patented Agnilet engine, a fully 3D-printed, single-piece, 6
kilonewton (kN) semi-cryogenic engine.
ii.Diverging from conventional sounding rockets launched from
guide rails, Agnibaan SOrTeD will initiate vertical liftoff and follow a
predefined trajectory while executing precisely arranged maneuvers
during its flight.
iii.The rocket is equipped to haul payloads of up to 100 kilos to a 700
kilometers distance in Low-Earth-Orbit (LEO) and has been praised for its ‘plug-and-play’ design, which allows
for accurate mission configuration.
iv.Agnikul’s flight events have been designated to validate key technologies integral to the success of its
upcoming orbital flights as Agnikul is on its path toward its inaugural controlled flight in the upcoming weeks.
Note: On 25th November 2022, Agnikul inaugurated India’s first private launchpad, Agnikul Launchpad (ALP),
and Mission Control Center (Agnikul Mission Control Center (AMCC)) at SDSC. This facility serves as the base
for Agnikul’s future suborbital and orbital missions.
Key Points:
i.This suborbital mission serves as a validation of Agnikul’s proprietary autopilot, navigation, and guidance
algorithms. It also serves as a crucial trial for gauging the launchpad’s preparedness for more ambitious
undertakings.
ii.AgniKul, assisted by the Indian Space Research Organisation (ISRO) and IN-SPACe, the promotion and
regulation body has ideated and built the launchpad.
iii.The launchpad and the mission control center are separated by 4 kilometers, and equipped with state-of-
the-art technology to ensure independent and uninterrupted operations during the mission countdown.
iv.A successful launch would make AgniKul the 2nd Indian space tech start-up to send its launch vehicle into
space after Skyroot Aerospace, which launched its rocket Vikram-Sarabhai (Vikram-S) in 2022.
About AgniKul Cosmos Private Limited:
AgniKul Cosmos is an Indian aerospace manufacturer based in National Center for Combustion Research &
Development (R&D) (NCRD) of Indian Institute of Technology Madras(IIT Madras), Chennai, Tamil Nadu(TN).
India’s First Hydrogen Bus Hits the Public Roads in Leh, Ladakh
NTPC Limited(formerly known as National Thermal Power Corporation), a Maharatna Public Sector
Undertaking(PSU) under the Ministry of Power (MoP), has begun the trial of India’s 1st hydrogen bus in Leh,
Union Territory (UT) Ladakh. This marks India’s 1st-ever use of hydrogen buses on public roads. The first
hydrogen bus arrived in Leh, marking the initiation of a 3-month process involving field trials, roadworthiness
tests, and necessary regulatory steps.
• NTPC is working towards achieving carbon-neutral Ladakh by establishing a hydrogen fuelling
station, a solar plant, and introducing five fuel cell buses for local transport within the city of
Leh. This is part of efforts to reduce carbon emissions and promote sustainability in the region.
• The first of its kind Green Hydrogen Mobility Project at 11,562 ft is co-located with dedicated
Solar plant of 1.7 MW for providing renewable power. The fuel cell buses are designed for
operation in sub-zero temperature in rarefied atmosphere, typical to such altitude locations which is
a unique feature of this project.
• NTPC aims to achieve 60 GW of Renewable Energy capacity by 2032 and play a significant role in
Green Hydrogen Technology and Energy Storage.The company is taking up several initiatives
towards decarbonization such as Hydrogen blending, Carbon Capture, EV buses, Smart NTPC
Townships etc.
BHEL Manufactures First Set of Indigenous SCR Catalysts to limit NOx emission
Bharat Heavy Electricals Limited (BHEL) has manufactured India’s first set of Indigenous Catalysts
for Selective Catalyst Reactors (SCR) for limiting oxides of nitrogen (NOx).This production is in line
with the government’s “Make in India” Initiative.
• Ms. Renuka Gera, Director (Industrial Systems & Products), BHEL flagged off the first set of
indigenously manufactured SCR catalysts for the 5×800 Mega Watt(MW) Yadadri Thermal
Power Station in Telangana, from the company’s Solar Business Division (SBD) unit in
Bengaluru,Karnataka.
• Combustion of coal converts the nitrogen bound in coal to form various products such as nitric
oxide (NO), nitrogen dioxide (NO2) and nitrous oxide (N2O).These products are collectively
called oxides of nitrogen (NOx) which are significant major pollutant.
Note – Bharat Heavy Electricals Limited (BHEL) is an Indian Maharatna central public sector Enterprise
(CPSE) under the administrative control of the Ministry of Heavy Industries. Established in 1956, BHEL is
based in New Delhi
i.As per the recent environment protection notification of Ministry of Environment and Forest,Telangana
State Power Generation Corporation Limited (TSGENCO) had placed an order for SCRs for 5×800 MW
Yadadri thermal power station,Telangana.
ii.Further, Maharashtra State Power Generation Co Ltd (MAHAGENCO) for 1×660 MW Bhusawal thermal
power station in Maharashtra, West Bengal Power Development Corporation Limited (WBPDCL) for
1×660 MW Sagardighi thermal power station in West Bengal and National Aluminium Company
Limited (NALCO) is a Navratna CPSE under Ministry of Mines for 1×18.5 MW Damanjodi thermal power
station in Odisha
INS Chennai Participates in PASSEX with Royal Saudi Naval Ship HMS Al Jubail
On 5th August 2023, the Indian Naval Ship (INS) Chennai participated in a Passage Exercise (PASSEX) with
Royal Saudi Naval Ship HMS Al Jubail.
• The exercise was conducted off the coast (Red Sea) of Jeddah, Saudi Arabia which included tactical
manoeuvres, seamanship evolutions and communication drills that contributed to reinforcing
mutual trust, cementing operational understanding, and enhancing interoperability between the
Indian and Saudi navies.
About Indian Naval Ship (INS) Chennai:
INS Chennai, a P-15A Guided Missile Destroyer, was commissioned into the Indian Navy in November 2016. It
was constructed by Mazagon Dock Limited, Mumbai, Maharashtra
India, Japan, US, Australia hold 27th Malabar Naval Exercise off Australian Coast
The 27th edition of naval Exercise MALABAR 2023 was held at East Coast of Australia off Sydney, between the
Indian Navy (IN), United States Navy (USN), Japan Maritime Self Defence Force (JMSDF) and the Royal
Australian Navy (RAN) from August 11-21, 2023.
• The exercise was hosted by RAN and held in Australia for
the first time.
Aim:
To enhance interoperability, share maritime security best
practices.
Representatives from India:
i.Indian Navy Ship (INS) Sahyadri– It is the third vessel of the
indigenous Project-17 class frigates, commanded by Capt
Rajan Kapoor.
ii.INS Kolkata– It is the first in the Project-15A class destroyers,
under the command of Capt Sharad Sinsunwal.
• Both ships, built at Mumbai, Maharashtra’s Mazagon Dock Ltd, are armed with advanced weaponry and
sensors for comprehensive threat detection and response.
iii.P8I Maritime Patrol Aircraft – It was manufactured by Boeing specially for the Indian Navy.
Representatives from other Nations:
Participating units include RAN ships Her or His Majesty’s Australian Ship (HMAS) Choules and HMAS Brisbane,
United States Ship (USS) Raphael Peralta, Japanese Ship (JS) Shiranui, Australian F-35 fighter jets, as well as P-8
surveillance aircraft, fighter aircraft, maritime patrol aircraft and shipborne helicopters along with submarines.
Key Points:
i.MALABAR 2023 was conducted in two phases Harbour and Sea. The harbor phase took place from 11-15
August 2023, followed by the sea phase from 16-21 August 2023.
• The Harbour Phase involved ross-deck visits, exchanges, sports, planning.
• The Sea Phase includes various complex and high intensity exercises in all three domains of warfare,
encompassing surface, air and under sea domains including live weapon firing drills.
ii.In 2022, it was hosted by Japan off Yokosuka island near the East China Sea.
iii.Commencing in 1992 as a bilateral naval exercise between India and the US in the Indian Ocean, Malabar
exercise annual event saw Japan’s inclusion as a permanent participant in 2015. In 2020, Australia’s
participation made it a four Quad coalition.
Note: Concurrently, from August 22-24, 2023, 5th edition of the biennial AUSINDEX Maritime Exercise held
between the navies of India and Australia off the coast of Sydney.
Ex BRIGHT STAR-23: Maiden Multilateral Exercise of IAF Held in Egypt from August 27 to
September 16, 2023
Indian Air Force (IAF) contingent will be participating in Exercise BRIGHT STAR-23, a biennial multilateral
tri-service exercise scheduled to be held at Cairo (West) Air Base, Egypt, from August 27 to September 16,
2023, towards encouraging global defense cooperation with Egypt. This is the first time that IAF is
participating in Ex Bright Star-23.
• The participation of IAF showcases India’s
commitment to strengthening strategic partnerships
and enhancing joint operational capabilities. IAF
contingents engaging in flying exercises abroad make
them true Diplomats in Flight Suits.
Aim of Ex Bright Star-23:
The objective of the exercise is to practice planning and
execution of joint operations. Besides leading to the formation of
bonding across borders, these exercises allow nations to plan
and execute complex operations together.
Indian Participants:
i.The IAF contingent will consist of five MiG-29, two IL-78, two C-130 and two C-17 aircraft.
ii.Personnel from the IAF’s Garud Special Forces, as well as those from the Numbers 28, 77, 78, and 81
Squadrons, will be participating in the exercise.
iii.The IAF transport aircraft will also provide airlift to approximately 150 personnel from the Indian Army.
Other Participants:
Ex BRIGHT STAR-23 will also see the participation of contingents from the United States of America (USA),
Saudi Arabia, Greece, and Qatar.
Key Points:
In the 1960s, India and Egypt fostered a remarkable relationship and deep cooperation that encompassed the
development of aero engines and aircraft, along with extensive pilot training.
TESTING
LCA Tejas Test-Fires Indigenous ASTRA Air-to-Air Missile off Goa Coast
On 23rd August 2023, India’s Tejas Light Combat Aircraft (LCA) LSP-7 aircraft successfully test fired
the ASTRA indigenous state–of-the-art Beyond Visual Range (BVR) Air-to-Air missile (AAM) off the coast
of Goa.
• The missile release was carried out by Tejas at an
altitude of about 20,000 feet(ft).
• It was a flawless text book launch and all test objectives
were met.
• This will significantly enhance the combat skills of
Tejas and reduce their dependency on imported
weapons.
Key Officials to Monitor the Launch:
The test launch was monitored by the Test Director and scientists
of the Aeronautical Development Agency (ADA), Defence Research
and Development Organisation (DRDO), Hindustan Aeronautics Limited (HAL) along with officials from Centre
for Military Airworthiness and Certification (CEMILAC), and Directorate General of Aeronautical Quality
Assurance (DG-AQA).
The aircraft was also monitored by a Chase Tejas twin-seater aircraft.
Features of ASTRA:
i.ASTRA is designed to be mounted on a fighter aircraft and engages and destroys highly manoeuvring
supersonic aerial targets.
ii.It is designed and developed by the Defence Research and Development Laboratory (DRDL), Research Centre
Imarat (RCI) and other laboratories of DRDO.
iii.It is built to function across weather conditions, and during both day and night, the system is being
developed to meet specific requirements.
iv.The indigenous Astra BVR firing from homegrown Tejas fighters is a major step towards ‘Aatmanirbhar
Bharat’ (self-reliant India).
Additional info:
The ASTRA Mk-I Weapon System integrated with SU-30 Mk-I aircraft is being inducted into the Indian Air Force
(IAF).
Key Points:
i.Tejas is a single-engine multi-role fighter aircraft, with the capability to operate in high-threat air
environments.
• It is designed by the ADA in collaboration with Aircraft Research and Design Centre (ARDC) of HAL
for the IAF and Indian Navy.
ii.The indigenously-developed fighter jet has been developed to undertake air defence, maritime exploration
and strike operations.
India’s indigenous Nag ATGM and Helina Dhruvastra Missiles Set to Join Indian Armed Forces
India’s indigenous Nag Anti-Tank Guided Missile (ATGM) and the variant of HELINA (Helicopter-launched
NAG) Weapon System called ‘Dhruvastra’ are set to be inducted into the Indian army and Indian Air Force
(IAF) after clearing all the trials.
• Both the Nag ATGM and Helina (Dhruvastra) missiles
are developed by Defence Research and Development
Organisation(DRDO) and manufactured by Bharat
Dynamics Limited(BDL).
• Nag is the surface-to-air missile and Dhruvastra is the
air-to-surface missile.
About Nag ATGM:
i.NAG also known as Prospina, is a third generation Anti-Tank
Guided Missile with Fire and Forget top attack capability.
• Nag ATGM developed under the integrated guided missile development programme (IGMDP), which
also includes four other missiles—Agni, Akash, Trishul and Prithvi.
ii.The Nag has an operational range of up to 4 km and is armed with a tandem High-Explosive Anti-Tank
(HEAT) warhead.
iii.Nag ATGM measures approximately 1.834 meters in length, has a diameter of 0.158 meters, and weighs
around 44 kilograms.
About Helina (Dhruvastra):
i.Helina is an Air to Surface Missile system launched from Advanced Light Helicopter (ALH).ALH is fitted with
two Twin launchers, one on each side, each carrying eight missiles.
LCA Navy Prototype NP5 Trainer Aircraft Completes Successful Maiden Flight
The Light Combat Aircraft (LCA) Naval Trainer Prototype ‘NP5‘ successfully completed its maiden flight in
Hindustan Aeronautical Limited (HAL) Airport, Bengaluru, Karnataka.
• LCA Navy is designed and developed jointly by
Aeronautical Development Agency (ADA) and HAL.
• Captain Amit Kawade of the Indian Navy and Wing
Commander Siddarth Singh (Retired) piloted the
aircraft, which was flying for 57 minutes and
displayed normal parameters during the mission.
Features of LCA Navy NP5:
i.The LCA Navy NP5 is equipped with cutting-edge technology
such as a fly-by-wire flight control system, a glass cockpit, and
modern mechanical systems.
ii.It features modern hands-free ski jump take-off and landing flight control modes.
• It can operate with Air-to-Air weapons for combat missions and also capable of operating both
during the day and night.
iii. NP5 is a production-ready version of the LCA aircraft including all the improvements identified during the
testing of NP1 and NP2.
iv.The flight testing activities of NP5 aircraft will provide designers vital inputs towards the design and
development of the Twin Engine Deck Based Fighter (TEDBF).
About Previous Prototypes:
i.The first trainer prototype NP1 was flown on 27 April 2012 and the fighter prototype NP2 was flown on
February 7, 2015.
SPORTS
Japan Open 2023: Viktor Axelsen and An Se Young Wins Men’s & Women’s Singles Title
Denmark’s Viktor Axelsen and South Korea’s An Se Young won the men’s singles and Women’s singles titles
respectively of Daihatsu Japan Open 2023 Badminton Championships.
• The 40th edition of Daihatsu Japan Open 2023
Badminton Championships held from 25th-30th July
2023 at Yoyogi National Stadium First Gymnasium,
Shibuya, Tokyo, Japan.
• India’s Lakshya Sen was defeated by Jonatan Christie of
Indonesia in the semifinals of men’s singles.
Highlights:
i.Men’s Singles : Denmark’s Viktor Axelsen(World rank 1) won the
men’s singles title defeating Jonatan Christie of Indonesia in the
finals.
• This marks his third Badminton World Federation (BWF) title in 2023 including Malaysia open,
Indonesia open. He also won the gold medal in European Games 2023.
F1: Red Bull’s Max Verstappen Wins 3rd 2023 Belgian Grand Prix
On 30th July 2023, Redbull’s racing driver Max Verstappen (Dutch-Belgium) won the Formula 1(F1) MSC
Cruises Belgian Grand Prix 2023 at Circuit de Spa-Francorchamps, Stavelot,Belgium.
• Red Bull’s Sergio Perez (Mexican) finished 2nd and Ferrari’s Charles Leclerc (Monacan) finished 3rd.
• This marks his 8th straight win and 10th win of the season 2023.
Torneo del Centenario 2023 : Indian Women’s Hockey Team Wins Title , Indian Men’s Team
won Bronze
On 29th July 2023, the Indian women’s hockey team defeated the host Spain at the three-nation Torneo del
Centenario 2023 (100th Anniversary Spanish Hockey Federation – International Tournament) by winning the
title in Terrassa, Barcelona, Spain
• This was the Indian women’s team’s first win at the 100th Anniversary Spanish Hockey Federation
International Tournament 2023.
• Indian women’s team was led by the goal keeper Savita Punia.
Notable players:
i.Goals from Vandana Katariya, Monika, and Udita helped the Indian Women’s Team remain unbeaten in the
tournament.
ii.Lalremsiami scored a hat-trick for India.
Note: In the women’s tournament India, Spain, and England teams played each other over two legs and India
after all matches won the trophy in the finals.
About Torneo del Centenario:
The Torneo del Centenario is being played to commemorate the 100-year anniversary of the Real Federacion
Espanola de Hockey – the Spanish hockey federation.
Indian Men’s Hockey team Defeats Netherlands by Securing 3rd Place
On 30th July 2023, the Indian men’s hockey team defeated the Netherlands by securing third place and the
bronze medal in the four-nation Torneo del Centenario 2023 in Terrassa, Barcelona, Spain.
• Captain Harmanpreet Singh and Dilpreet Singh scored notable goals(all goals came from penalty
corners) in India’s victory.
In the men’s event, the India, England, Netherlands,and Spain teams faced each other in a single-legged round-
robin format and the top two teams (England & Spain) faced each other in the final.
Note:
Based on the Elo rating system, in the International Hockey Federation (FIH) rankings, the Indian women’s
hockey team is currently ranked 8th while the men’s team is placed 4th.
Italy’s World Cup Winning Goalkeeper Gianluigi Buffon Retires from Football
On 2nd August 2023, Italian goalkeeper Gianluigi Buffon(45 years old) announced his retirement from
football. He was part of the Federation Internationale de Football Association(FIFA) World Cup winning Italian
team in 2006 in Germany (against France).
• He retired from international football in 2018 after Italy failed to qualify for the 2018 FIFA World
Cup in Russia.
About Gianluigi Buffon:
i.He was born on 28th January 1978 in Carrara, Italy.
England’s T20 World Cup 2022 Winner Alex Hales Retires From International Cricket
England’s Twenty20 International(T20I) World Cup 2022 winner Alexander Daniel Hales (Right-Handed
Batsman) announced his retirement from international cricket on 4th August 2023. However he continues to
play in domestic and franchise cricket.
• Hales scored an unbeaten 86 runs, which lead England to win over India in the T20I World Cup2022
semi-finals in Australia.
World Archery Championships 2023: India won Gold for the 1st time & Topped Medal Tally
with 4 medals
India topped the medal tally with 4 medals(3 gold and 1 bronze) at the 52nd edition of the Hyundai World
Archery Championships 2023, held in the Berlin Olympic Park in Berlin, Germany from 31st July to 6th
August 2023.
• India won the gold medal for the first time since its 1st
edition that held in 1931.
• South Korea secured 2nd position in the medal tally with
3 medals(2 gold and 1 bronze) followed by
Germany,Poland and Türkiye in 3rd position each with 2
medals (1 gold and 1 silver).
• This event marks the first major qualifier event in
archery for the 2024 Paris Olympic.
Indian Medal Winners:
Archer Event Medal
Aditi Gopichand Swami women’s individual compound Gold
Ojas Pravin Deotale men’s individual compound Gold
Jyothi Surekha Vennam, Parneet Kaur and Aditi Gopichand Swami women’s compound team Gold
Jyothi Surekha Vennam women’s individual compound Bronze
India’s first-ever gold medal in World Archery Championships:
i.The Indian women’s compound team of Jyothi Surekha Vennam, Aditi Swami and Parneet Kaur won the gold
medal beating Mexico in the final.
• This marks India’s first-ever gold medal in the World Archery Championships.
ii.Jyothi Surekha Vennam also won the bronze medal at the women’s individual compound event defeating Ipek
Tomruk of Türkiye.
Aditi Gopichand Swami -Youngest world champion:
i.Aditi Gopichand Swami(aged 17) became the world champion by winning the gold medal in the women’s
compound event defeating Andrea Becerra of Mexico.
ii.She also became the youngest archer to win an individual event at the senior world championships.
Australian Badminton Open 2023: HS Prannoy Wins Silver Medal in Men’s Singles Finals
India’s Prannoy Haseena Sunil Kumar settled to silver medal in the men’s singles after losing the finals
against China’s Weng Hong Yang at the Sathio Group Australian Open 2023(Australian Open 2023) held at the
state sports centre in Sydney, Australia from 1st to 6th August 2023.
• HSBC Badminton World Federation(BWF) Australian Open
2023 is the World Tour Super 500 tournament.
Highlights:
i.Men’s Singles: China’s Weng Hong Yang won the men’s singles title
defeating India’s HS Prannoy.
• HS Prannoy defeated Priyanshu Rajawat (India) in semi-
finals to enter 2023 Australian Open finals .
• Previously, Prannoy defeated Weng Hong Yang in the finals
of Malaysia Masters Super 500 in May 2023 to win his first
BWF World Tour title.
i.Women’s singles:Chinese born American Beiwen Zhang won the women’s singles title by defeating Kim Ga
Eun of South Korea.
• She won her previous BWF title at the 2018 India Open against PV Sindhu.
Asian Youth and Junior Weightlifting Championships 2023: India Wins 42 Medals; 15 in Junior
and 27 in youth Events
The Indian Weightlifting contingent won 42 medals(15 in Junior events and 27 in youth events) in the Asian
Youth and Junior Weightlifting Championships 2023 held from 28th July to 5th August 2023 in the Gautam
Buddha University in Greater Noida, Uttar Pradesh.
• In the Asian Youth(Boys & Girls) and Junior (Men & Women) competition, medals were given out for
the snatch, clean & jerk, and overall categories and India won 14 medals in the clean & jerk; 13
medals in the snatch;15 in the overall category.
• The Asian Youth and Junior Weightlifting Championships 2023 is held in India for the first time.
Asian Champions Trophy Chennai 2023: Indian Men’s Hockey Team won by Defeating Malaysia
The 7th edition of the Asian Champions Trophy 2023 held from 3rd to 12th August 2023 in the Mayor
Radhakrishnan Stadium, Chennai, Tamil Nadu.The Indian Men’s hockey team clinched the Hero Asian
Champions Trophy 2023 Title by defeating Malaysia (4-3) in the finals held in Chennai, Tamil Nadu. Malaysia
secured the Silver Medal in the tournament.
• This victory marks India’s 4th win in the tournament
including 2011,2016,2018,2023 and becomes the
Successful team in the tournament surpassing
Pakistan(2012,2013,2018).
• Japan’s men’s hockey team defeated South Korea to
secure the Bronze Medal (3rd place).
Note: India and Pakistan shared the 2018 Title due to rain
affecting the final.
Awards of the Final Match:
• HERO of the Match- Hardik Singh (India)
• young player of the match – Selvam Karthi (India)
Points Table:
Position Team
1 India(Gold)
2 Malaysia(Silver)
3 Japan(Bronze)
4 South Korea
5 Pakistan
6 China
Awards of the Tournament:
• Hero of the Tournament: Mandeep Singh (India)
• Hero Top Scorer: Harmanpreet Singh (India)- (9 Goals)
• Dafa News Best Goalkeeper of the Tournament: Kim Jaehyeon (South Korea)
• Best Rising Goalkeeper Award: Takumi Kitagawa (Japan)
• Emerging Player Award: Abdul Shahid (Pakistan)
India &
5th/2018 Oman(Muscat)
Pakistan
South
6th/2021 Bangladesh(Dhaka) Japan
Korea
ii.West Indies won the 2nd ODI by 6 wickets against India held on 29th July 2023 in the Kensington Oval in
Bridgetown, Barbados.
iii.India won the 3rd ODI by 200 runs held on 1st August 2023 in Brian Lara Stadium in Tarouba, Trinidad.
• Player of the Series(ODI) – Ishan Kishan (India)
West Indies Won T20I series 3-2 against India
i.West Indies defeated India by 8 wickets in the 5th and final T20I held on 13th August in Lauderhill in Florida,
United States of America(USA).
FIFA Women’s World Cup 2023: Spain Defeated England to win their 1st Women’s World Cup
Spain Women’s football team (nicknamed La Roja) won the Fédération Internationale de football
Association(FIFA) Women’s World Cup 2023 by defeating England 1-0 in the finals at Stadium Australia in
Sydney, Australia on 20th August 2023.
• This marks Spain’s 1st title at the senior level and they won 1st Under-20 FIFA World Cup in 2022
and two U-17 FIFA World Cup in 2018 & 2022.
Medal Winners of 2023 FIFA Women’s World Cup:
Country Medal
Spain Gold
England Silver
Sweden Bronze
Bronze Medal Match:
Sweden won their 4th bronze medal by defeating Australia 2-0 for
the 3rd place match held in Brisbane, Australia.
• Previously, they won the bronze medal by defeating
Germany in 1991, France in 2011, and England in 2019,
and they were also runners-up (silver) in 2003.
Highlights:
i.England’s Mary Earps was awarded the Golden Glove following
her incredible campaign, including key saves in the final against
Spain.
ii.Hinata Miyazawa (Japan) was awarded the Golden Boot award
with a total of five goals.
• The last time a Japanese player won the Golden Boot award was at the 2011 Women’s World Cup
when Sawa Homare managed five goals.
iii.The 19-year-old Salma Paralluelo picked up the Young Player of the Tournament award after her
incredible debut campaign with Spain.
iv.Spain and Germany become the only two countries to win both men’s and women’s World Cup titles.
• Spain’s men won the title at the 2010 FIFA World Cup in South Africa.
• Germany’s men are four-time World Cup champions, winning in 1954, 1974, 1990 and 2014.
Germany’s women’s team won in 2003 and 2007.
FIFA Women’s World Cup awards:
• adidas Golden Ball Award – Aitana Bonmati (Spain)
• adidas Silver Ball Award – Jennifer Hermoso (Spain)
• adidas Bronze Ball Award – Amanda Ilestedt (Sweden)
• adidas Golden Boot Award – Hinata Miyazawa (Japan)
• adidas Silver Boot Award – Kadidiatou Diani (France)
• adidas Bronze Boot Award – Alexandra Popp (Germany)
• adidas Golden Glove Award – Mary Earps (England)
Player Medal
Edition Player
Kunlavut Vitidsarn Wins Men’s Singles Title at the BWF World Championships 2023
Kunlavut Vitidsarn of Thailand and An Se-young of South Korea won the men’s singles and Women’s singles
titles respectively in the Badminton World Federation(BWF) World Championships 2023.
• The TotalEnergies Badminton World Federation(BWF) World Championships 2023 held in Royal
Arena, Copenhagen, Denmark from 21st to 27th August 2023.
• India’s HS Prannoy won the bronze medal in the men’s singles at the BWF World Championships
2023.
Highlights:
i.Men’s Singles: Kunlavut Vitidsarn of Thailand won the men’s singles title by defeating Naraoka Kodai of
Japan.
• It marks Thailand’s first men’s singles title at the BWF World Championships.
• The final match lasted about 109 minutes marking the the second-longest World Championship
men’s singles final after the 124-minute match between China’s Sun Jun and Denmark’s Peter
Rasmussen in the inaugural World Championships in 1977.
ii.Women’s Singles: An Se-young of South Korea won the women’s
singles title by defeating the 2016 Rio Olympics gold medalist Carolina
Marin of Spain.
• It marks South Korea’s first women’s singles title at the
BWF World Championships.
iii.Men’s Doubles: South Korea’s Kang Min Hyuk and Seo Seung
Jae won the men’s doubles title by defeating Kim Astrup and Anders
Skaarup Rasmussen of Denmark.
iv.Women’s Doubles: China’s Chen Qing Chen and Jia Yi Fan won
the women’s doubles title by defeating Apriyani Rahayu and Silva Ramadhanti of Indonesia.
• This marks their fourth BWF World Championships women’s doubles title
including 2017,2021,2022 and 2023.
v.Mixed Doubles: Seo Seung Jae and Chae Yu Jung of South Korea won the mixed doubles title by defeating
Zheng Si Wei and Huang Ya Qiong of China.
• Seo Seung Jae won two titles in the 2023 BWF World Championships including men’s doubles along
with Kang Min Hyuk.
HS Prannoy wins bronze medal:
i.Prannoy Haseena Sunil Kumar (HS Prannoy) settled for a bronze medal after losing to Kunlavut Vitidsarn in
the semifinals.
• This marks India’s 14th medal at the World Championships including 1 gold, 4 silver and 9 bronze.
ii.He was also the 5th Indian men’s player to win the BWF World Championships after Prakash Padukone, Sai
Praneeth, Kidambi Srikanth and Lakshya Sen.
• PV Sindhu was the only Indian to win a gold at the BWF championship in Basel, Switzerland in 2019,
which makes her total medal count to 5 in BWF championship.
iii.Prannoy won his first BWF world tour title at the Malaysia Masters in May 2023.
• He also clinched the silver medal in men’s singles at the Australian Open in August 2023.
Neeraj Chopra Wins Gold Medal in the World Athletics Championships 2023
The 2020 Tokyo Olympics gold medallist Neeraj Chopra has won the gold medal in the men’s javelin with an
88.17 meter (m) throw in the World Athletics Championships 2023.
• The 19th edition of the World Athletics Championships
(2023) was held in (Venue – The National Athletics
Centre) Budapest, Hungary from 19th to 27th August
2023.
Neeraj Chopra – Gold Medal:
i.Neeraj Chopra finished first followed by Pakistan’s Arshad Nadeem
(87.82m) in the second and Jakub Vadlejch (86.67m) of the Czech
Republic in the third.
• Other Indian athletes Kishore Jena (84.77m) and DP
Manu (84.14m) finished fifth and sixth respectively in the finals.
• This marks India’s third medal at the World Athletics Championships after Anju Bobby George’s long
jump bronze at Paris 2003 and Neeraj’s silver at Oregon 2022.
ii.He became the first Indian to win gold at the World Athletics Championships.
Note:
National Javelin Day is annually celebrated across India on 7th August to commemorate the day on which
Neeraj Chopra won the men’s javelin throw gold at Tokyo 2020 Olympics.
Indian men’s 4x400m relay team finishes fifth in the finals:
i.Indian men’s 4x400m relay team comprising Muhammed Anas Yahiya, Amob Jacob, Muhammed Ajmal and
Rajesh Ramesh finished fifth in the finals.
• The United States of America(USA) finished first followed by France and the United Kingdom in
second and third place respectively in the finals of men’s 4x400m.
Indian Women’s Hockey Team wins inaugural Women’s Hockey 5s Asia Cup; defeats Thailand
7-2 in Final
On 28th August 2023, The Indian Women‘s Hockey Team won the inaugural Women’s Hockey5s Asia Cup by
defeating Thailand (7-2) in the final match. Women’s Hockey5s Asia Cup 2023, held in Salalah, Oman from
25th to 28th August 2023, was the qualifying tournament FIH(Fédération Internationale de Hockey) Women
Hockey 5s World Cup 2024.
• With this victory, India qualifies for the FIH Women Hockey 5s World Cup 2024, the inaugural
edition of FIH Hockey5s World Cup, which is to be held in Muscat, Oman from 24th to 27th January
2024.
• Mariana Kujur (2nd, 8th minutes) and Jyoti (10th, 27th) scored a brace for India, while Monika
Dipi Toppo (7th), skipper Navjot Kaur (23rd) and Mahima Choudhary (29th) were the other goal
scorers. For Thailand, Kunjira Inpa (5th) and Sanpoung Kornkanok (5th) were on target.
• Hockey India has announced a Rs. 2 lakh reward to each player of the team, while Rs. 1 lakh each for
the support staff.
Player of the Tournament was Aunjai Natthakarn (Thailand) and Goalkeeper of the Tournament was Rumbiak
Iryani (Indonesia).
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
Padma Bhushan Awardee & Nuclear Physicist Bikash Sinha Passed away at 78
Padma Awardee and renowned nuclear physicist Bikash Chandra Sinha (aged 78) passed away in Kolkata due
to age related ailments. He was born in Kandi, Murshidabad, West Bengal in 1945.
About Bikash Chandra Sinha:
i.He joined Bhabha Atomic Research Centre(BARC), Mumbai,
Maharashtra in 1976.
ii.He served as the chairman of the board of governors, National
Institute of Technology(NIT) Durgapur, West Bengal(WB).
iii.He has also served as the director of Saha Institute of Nuclear
Physics (SINP), Kolkata, WB from 1992 to 2009 and Variable Energy
Cyclotron Centre(VECC), Kolkata, WB, from 1987 to 2009.
iv.He was a member of the Scientific Advisory Council of the Prime
Minister of India from 2005 to 2009 and also nominated to the council again in 2009.
v.He has also served as the President of the Indian Physics Association from 2007 to 2010.
Padma Shri Recipient and Former President of JNCASR MRS Rao Passed Away
Former President of Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR)(Bengaluru,
Karnataka) and Padma Shri award recipient Professor Manchanahalli Rangaswamy Satyanarayana Rao,
popularly known as MRS Rao passed away. He was born in 1948 in Mysuru, Karnataka.
• He served as JNCASR president from 2003 to 2013. Before 2003, he was the Chairman in
Department of Biochemistry, Indian Institute of Science(IISC),Bengaluru.
Awards & Recognitions:
i.He received Padma Shri Award in 2010 for Science and Engineering.
ii.Goyal Prize by Kurukshetra University to honour eminent scientist in 2012-13.
iii.Year of Science(YoS) Chair Professor award for 2019-24 by Science and Engineering Research Board (SERB),
a premier funding agency to support basic research in frontier areas of Science and Engineering.
iv.Federation of Indian Chambers of Commerce & Industry(FICCI) Award 2004-05 for the significant work in
the category of Research & Development in Life Sciences.
Professional Activities:
i.MRS Rao was the Chairman of Research Council, Centre for Cellular and Molecular Biology(CCMB), Hyderabad
from 2001 to 2003.
ii.He was also Chairman of Task Force on Human Genetics and Genome Analysis, Dept of Biotechnology from
2003 to 2009.
iii.He also served as Chairman of Ramalingaswamy Fellowship selection committee,Dept of Biotechnology from
2017 to 2020.
Key Points:
i.He has served as an executive on the Australian Olympic Committee and helped Sydney win the bid for the
2000 Olympics.
ii.Devitt was also the Australian chef de mission for the 2006 Commonwealth Games in Melbourne.
Awards:
i.Devitt was inducted into the Sport Australia Hall of Fame in 1986 and Appointed as a Member of Order of
Australia (AM).
ii.He was also bestowed with the Olympic Order by the International Olympic Committee(IOC).
iii.He was awarded Federation Internationale de Natation(FINA’s) highest award – the FINA (World Aquatics)
Prize in 1994.
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.
Union Ministers Dharmendra Pradhan and Nirmala Sitharaman Launched Kuwi and Desia books in
Odisha
Union Ministers Dharmendra Pradhan, Ministry of Education(MoE) and Ministry of Skill Development and
Entrepreneurship(MSDE), and Nirmala Sitharaman, Ministry of Finance and Ministry of Corporate
Affairs(MCA) launched 2 books namely “Kuwi Primer” and “Desia Primer” in Kuwi and Desia languages at an
event held in Bhubaneswar, Odisha, to simplify primary education for tribal children in Odisha.
• The event also witnessed the special postal cover release on behalf of the Department of Posts, Ministry
of Communications, Government of India (GoI).
• The event marks a collaborative effort with the Central University of Odisha, Koraput, the Department of
Posts, and the National Council of Educational Research and
Training (NCERT).
Key Highlights:
i.With more than 62 tribes constituting 23% of Odisha’s population,
supporting local culture in education is essential.
ii.In this regard, NCERT, for the first time, in collaboration with the
Central University of Odisha, has prepared the 2 books for those
children, who are speaking Kuwi and Desia tribal languages in the
undivided Koraput district of Odisha.
iii.The step to introduce primers in local languages and dialects is a generational one and will also further
enrich the GoI’s vision of ‘Ek Bharat Shrestha Bharat‘ (EBSB).
iv.The National Education Policy (NEP) 2020, a progressive and flexible policy is a result of collective efforts,
and extensive consultations, which empowers states to adapt and evolve according to their distinct educational
requirements.
Events on Meri Maati Mera Desh:
The Ministers also attended a series of events under the nationwide “Meri Maati Mera Desh” campaign, a
tribute to the heroes who have made supreme sacrifices for the country.
i.The Union Ministers visited Sand Art on “Meri Maati Mera Desh” by Padmashri Awardee Sudarshan Patnaik, a
Sand Artist at Puri Beach in Odisha.
ii.Under the ‘Dedication of Shilaphalakam’ (memorial plaques) and ‘Vasudha Vandan’ initiative of Meri
Maati Mera Desh.
• Vasudha Vandan is to develop the ‘Amrit Vatika‘ by planting 75 saplings of indigenous species.
iii.They also collected soil and rice in ‘Amrit Kalash’ from house to house in Biraharekrushnapur village of Puri
district and visited the birthplace of noted Freedom Fighter Saheed Jayee Rajguru to create an Amrit Vatika in
Delhi.
PS Sreedharan Pillai Released Three New Books on Nature, Trees, and Geopolitics
Goa Governor PS Sreedharan Pillai launched his recently authored three new books namely ‘Heritage Trees of
Goa’, ‘When Parallel Lines Meet’, and ‘Ente Priya Kavithakal‘ (‘My Dear Poems’ a collection of poems). Goa
Chief Minister Pramod Sawant inaugurated the event in Panaji, Goa. Sreedharan Pillai has written over 200
books.
IMPORTANT DAYS
World Day Against Trafficking in Persons 2023 – July 30
The United Nations (UN)’s World Day Against Trafficking in Persons is annually observed annually on 30th
July to raise awareness about the situation of human trafficking victims and to promote and protect their
rights.
• The 2023 campaign theme of the World Day Against Trafficking in Persons is: “Reach every victim
of trafficking, leave no one behind“.
• The 2023 campaign theme aims to raise awareness of disturbing developments and trends
identified by the UN Office on Drugs and Crime (UNODC) and calls on governments, law
enforcement, public services, and civil society to evaluate and increase their efforts to strengthen
prevention, identify and support victims, and end immunity.
Background:
i.On 18th December 2013, the United Nations General Assembly (UNGA) adopted the resolution A/RES/68/192
and proclaimed the 30th of July of every year as the World Day Against Trafficking in Persons.
ii.The first-ever World Day Against Trafficking in Persons was observed on 30th July 2014.
What is Human Trafficking?
i.Human Trafficking is the recruitment, transportation, transfer, harbouring, or receipt of people through force,
abduction, fraud, or deception for exploitation.
ii.Traffickers often use violence, blackmail, emotional manipulation, removal of official documents, fraudulent
employment agencies, and fake promises of education and job opportunities to trick and coerce their victims.
Global Report on Trafficking in Persons:
i.The 2022 edition of the UNODC Global Report on Trafficking in Persons, is UNODC’s 7th report mandated by
the UNGA through the 2010 UN’s Global Plan of Action to Combat Trafficking in Persons.
ii.This edition of the report covers 141 countries and provides an overview of the response to the trafficking of
persons at global, regional, and national levels, by analysing trafficking cases detected between 2017 and 2021.
iii.The UNODC has been actively collecting data on trafficking in persons since 2009. As a result, they now
acquire the most extensive dataset on this issue, encompassing data from 2003 to 2021.
iv.This data consists of records on over 450,000 victims and approximately 300,000 (suspected) offenders
detected across the globe.
Key Points:
i.The number of victims detected globally reduced by 11% in 2020 from 2019, driven by fewer detections in
low- and medium-income countries (LMIC).
ii.The number of convictions for trafficking offences fell by 27% in 2020 from 2019 globally.
iii.Detection of trafficking for forced labour (38.8%) in 2020 was equal to that of trafficking for sexual
exploitation (38.7%), at just under 40% each.
iv.Male victims are the only profile that has increased by about +3% from 2019.
International Day of Remembrance and Tribute to the Victims of Terrorism 2023 – August 21
United Nations (UN)’s International Day of Remembrance and Tribute to the Victims of Terrorism is
annually observed across the world on the 21st August to honour and support the victims and survivors of
terrorism and to promote and protect the full enjoyment of their human rights and fundamental freedoms.
• The day also aims to pay tribute to all the victims of the global curse of terrorism, at home and
worldwide.
21st August 2023 marks the 6th commemoration of the International Day of Remembrance of and Tribute to
the Victims of Terrorism
International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief
2023 – August 22
The United Nations (UN)’s International Day Commemorating the Victims of Acts of Violence Based on
Religion or Belief is annually observed across the globe on 22nd August to condemn the violence and acts of
terrorism against individuals of religious minorities, on the basis of or in the name of religion or belief.
• 22nd August 2023 marks the observance of the 5th International Day Commemorating the Victims
of Acts of Violence Based on Religion or Belief
Background:
On 28th May 2019, The United Nations General Assembly (UNGA) adopted the resolution A/RES/73/296 and
proclaimed the 22nd of August of every year as the International Day Commemorating the Victims of Acts of
Violence Based on Religion or Belief.
• The first-ever International Day Commemorating the Victims of Acts of Violence Based on Religion
or Belief was observed on 22nd August 2019.
Significance:
i.The day highlights the importance to protect the fundamental right of all citizens to exercise their religion and
beliefs as well as the freedom to express their religious aspirations and views.
ii.The observance also aims to boost the protection given by state governments to strengthen the implement
the provisions to condone discrimination and intolerance based on religious and cultural differences.
iii.This day follows the annual observance of International Day of Remembrance and Tribute to the Victims of
Terrorism on 21st August.
Note:
• 2023 also marks the 25th anniversary of the adoption of the UN Declaration on Human Rights
Defenders.
• 10 December 2023 also marks the 75th anniversary of the Universal Declaration of Human Rights
(UDHR).
Human Rights & Freedom of religion and belief:
i.Freedom of religion or belief, freedom of opinion and expression, and rights to freedom of assembly without
violence all depend on one another and reinforce one another.
• These are enshrined in Articles 18, 19 and 20 of the Universal Declaration of Human Rights.
ii.Upholding these rights will play a major role towards combating all forms of intolerance and discrimination
based on religion or belief.
About United Nations (UN):
Secretary General– António Guterres
Headquarters– New York, the United States of America(USA)
Established in 1945
International Day for the Remembrance of the Slave Trade and its Abolition 2023- August 23
The United Nations (UN)’s International Day for the Remembrance of the Slave Trade and its Abolition is
annually observed on 23rd August, to remind people of the tragedy of the transatlantic slave trade during
colonial rule and to raise awareness about the abolition of slave trading and related practices.
• This date also pays tribute to those who worked hard to abolish the slave trade and slavery
throughout the world.
The annual observance of the day is led by the United Nations Educational, Scientific and Cultural Organization
(UNESCO).
Background:
i.In 1997, the UNESCO executive board on its 29th session of the General Conference adopted the resolution 29
C/40 and proclaimed the 23rd of August every year as the International Day for the Remembrance of the Slave
Trade and its Abolition.
ii.In 1998, a circular from the Director-General of UNESCO was sent to invite the Ministers of Culture of all
Member States to organise events every year on this day.
iii.The day was first observed in Haiti on 23rd August 1998 and Gorée Island in Senegal on 23rd August 1999.
Why August 23?
It was on that day, the self-liberated enslaved people on the island of Saint Domingue (today Haiti and the
Dominican Republic) rose up against French colonial rule, and played a crucial role in the abolition of the
transatlantic slave trade.
What is slave Trading?
i.The slave trade refers to the transatlantic trading patterns which were established as early as the mid-17th
century.
ii.The transatlantic slave trade involved the transportation of enslaved African people by slave traders, mainly
to the Americas.
iii.Trading ships would set sail from Europe with a cargo of manufactured goods to the west coast of Africa.
There, these goods would be traded, over weeks and months, for captured people provided by African traders.
Note: On 25th March 1807, the British government passed an Act of Parliament abolishing the transatlantic
slave trade, banning trading enslaved people throughout the British Empire.
Assam CM Launched Amrit Brikshya Andolan app & Theme Song, Wood-Based Industries
Registration Portal
On 2nd August 2023, Assam Chief Minister(CM) Himanta Biswa Sarma launched
the Amrit Brikshya Andolan web portal/mobile application, the theme song for the Amrit Brikshya Andolan and
Union Home Minister Amit Shah launches Digital Portal of CRCS office in Pune
On August 6, 2023, Union Minister Amit Shah, Ministry of Home Affairs (MHA) and Ministry of Cooperation,
launched a digital portal of the Central Registrar of Cooperative Societies (CRCS) office in Pune,
Maharashtra.
This launch is on the lines with Prime Minister(PM) Narendra Modi’s vision of “Sahkar se
Samriddhi”, strengthening cooperative movement in India, deepening its reach to the grassroots and to
enhance the performance, productivity and profitability of cooperative societies.
• The CRCS office, under the Ministry of Cooperation, is responsible for administering the Multi-State
Co-operative Societies (MSCS) Act 2002. This portal will ease the functioning of over 1550 MSCS in
India and promote a digital ecosystem for new registrations.
Objectives of Portal:
i.Promote ease of doing business in the cooperative sector and streamline processes
ii.Implementing completely paperless applications
iii.Enabling digital communication
iv.Improving analytics and management information system
CWC Chairman Kushvinder Vohra launches FloodWatch App for Real-Time Flood Forecasts
Kushvinder Vohra, Chairman of the Central Water Commission (CWC), launched FloodWatch, a mobile
application to provide real-time flood information and forecasts for up to 7 days to the general public by using
mobile phones.
• This initiative is an innovative solution to enhance flood information dissemination and
preparedness.
Sports Minister Anurag Thakur Launches National Sports Federations Portal on National
Sports Day
On the occasion of National Sports Day 2023 (29th August 2023), Union Minister Anurag Singh Thakur,
Ministry of Youth Affairs and Sports (MYAS) launched the National Sports Federations(NSFs) portal during
the event organised at the Jawaharlal Nehru (JLN) Stadium, New Delhi, Delhi.
• The portal is in line with the Government of India’s vision for Digital India which will ensure ease of
business and good governance.
About the portal:
i.It is a unified online portal and a single window system for the NSFs for processing of annual renewal of
recognition of NSFs, elections of NSFs etc.
ii.It will replace the existing system of physical mode of submission of documents by NSFs and ensure better
coordination among the Department of Sports and the NSFs.
ENVIRONMENT
108th Foundation Day of ZSI: 3- days Programme held with Special Focus on ‘Mission Life’
Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEFCC) inaugurated
a 3-day celebration programme of the 108th Zoological Survey of India (ZSI) Day with Special Focus on
‘Mission LiFE‘ (Lifestyle for Environment) at Nicco Park in Kolkata, West Bengal.
• Inauguration of Animal Taxonomy Summit (ATS) 2023,
its a first of its kind in our country, was organised by ZSI
as part of the programme , where 400 delegates across
India and abroad including the Natural History Museum,
London, the United Kingdom (UK) were participated.
Key People:
Ashwini Kumar Choubey, Minister of State (MoS), MoEFCC; Chandra
Prakash Goyal, Director General of Forests and Special Secretary; Dr
Dhriti Banerjee, Director ZSI; Dr Ashiho Asosii Mao, Director,
Botanical Survey of India (BSI).
Mission LiFE:
i.It is an India-led global mass movement introduced by Prime Minister (PM) Narendra Modi at the 26th United
Nations Climate Change Conference of the Parties (COP26) in Glasgow, Scotland, The United Kingdom (UK) in
November 2021.
ii.In 2022, the PM launched the Mission LiFE for a sustainable and healthy lifestyle at the Statue of Unity in
Gujarat.
Three Phases of Mission LiFE:
Each phase requires a fundamental shift in the approach towards sustainability.
• Phase I – Change in Demand
• Phase II- Change in Supply
• Phase III- Change in Policy
Delhi LG Launches Blockchain Technology for Integration into DFSL E-Forensic App
Vinai Kumar Saxena,Delhi Lieutenant Governor(LG) launched Blockchain Technology in the Inter-Operable
Criminal Justice System (ICJS) for electronic-forensic application(e-forensic app) of the Delhi Forensic Science
Laboratory (DFSL) and Delhi Police at Raj Niwas, official residence of the LG in Delhi.
• With this, Delhi FSL will be the first institution of its kind in India to utilize blockchain technology
“for transparent and tamper-proof (protected against unauthorized changes) digital evidence
recording.”
• Access will be restricted to authorized individuals in four analysis stages, maintaining data integrity,
ensuring transparency, accountability, and enhanced security by preventing any tampering.
• Integrating Blockchain Technology into DFSL’s e-forensic app guarantees that all physical evidence
submitted from the crime scene to the DFSL will remain free of human interaction and tampering.
• Additionally, this integration will automate the complete forensic workflow, commencing from the
police to the FSL.The data entered by the Investigating Officer at the police station level will be
transmitted to the FSL disclosing the details such as FIR, name of parties, etc.
• This technology has the potential to store various documents like land records, birth and death
certificates, caste and income certificates in individual digital lockers. It offers limitless capacity and no
time constraints on storage duration.
State of India’s Birds 2023: 60% of bird species in India declined over 30 yrs
According to the report titled “State of India’s Birds 2023: Range, Trends and Conservation Status”, out of
the 338 bird species studied in India, 60% of bird species have declined over the past 30 years.
• The 2023 report is the 2nd iteration of the State of India’s
Birds report.
• The report was produced as a partnership between 13
organisations which includes the Bombay Natural History
Society(BNHS), the Wildlife Institute of India(WII), and the
Zoological Survey of India(ZSI).
About State of India’s Birds 2023:
The report was created to assess the conservation status of the
migratory species that regularly occur in India.
Note: “State of India’s Birds 2020” was the 1st attempt to assess
the conservation status of the majority of India’s bird species.
Method: The primary data of the report is based on the 30 million observations uploaded by Indian
birdwatchers to eBird, an online birding notebook
Assessment: The assessments rely on 3 indices:
i.2 indices are related to the change in abundance,
• long-term trend (change over 30 years)
• current annual trend (change over the past 7 years)
ii.The 3rd index is a measure of distribution range size within India.
Highlights:
i.The 2023 report has assessed a total of 942 species of Indian birds and long-term trends could be determined
for 338 species.
ii.The current annual trends could be determined for 359 species, of which 142 have declined (64 rapidly), 189
are stable, and 28 have increased.
• Around 40% (142) of the 359 species evaluated for change over the last 7 years have declined.
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