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Daily Current Affairs 10th August 2023 Daily GK Update
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National News
3rd G20 Anti-Corruption Working Group Meeting held in Kolkata
- The 3rd and final meeting of G20 Anti-Corruption Working Group (ACWG) under India’s Presidency has been held in Kolkata.
- Over 154 delegates from G20 member countries, 10 invitee countries, and various international organizations attend the meeting.
- It will be followed by the G20 Anti-Corruption Ministerial Meeting on 12th August 2023, which will be chaired by Dr. Jitendra Singh.
- Under India’s G20 chairmanship, the ACWG has been able to achieve significant progress on anti-corruption cooperation with regard to the crackdown on fugitive economic offenders and the return of assets.
- The first and second ACWG meetings were held in Gurugram and Rishikesh respectively.
G20 in News (Note – All Meetings are Under the Presidency of G20 by India)
- Think20 Secretariat Summit – Mysuru, Karnataka (31 July – 2 August 2023)
- G20 Empower Summit – Gandhinagar, Gujarat (1 – 2 August 2023)
- G20 Green & Sustainable Growth Agenda for Global Economy Meeting – New Delhi (28 – 29 July 2023)
- 4th Environment and Climate Sustainability Working Group Meeting – Chennai, Tamil Nadu (26 – 28 July 2023)
- 3rd G20 Disaster Risk Reduction Working Group – Chennai, Tamil Nadu (24 – 26 July 2023)
CBI Academy joins Interpol Global Academy Network
- The Central Bureau of Investigation (CBI) Academy has joined the Interpol Global Academy Network at a virtual event.
- The CBI Academy has become the 10th member of the INTERPOL Global Academy Network, which will pave the way for the development and delivery of joint training programmes and research projects.
- The CBI Academy, based in Ghaziabad, is a premier training institution in the fields of crime investigation, prosecution and vigilance functioning.
- The three-year-old Interpol Global Academy Network aims to support Interpol in leading a global approach to law enforcement training.
- The CBI, which is a nodal body for all matters related to Interpol, conducts several international training programmes through its academy based in Ghaziabad, neighbouring Delhi.
- Several programmes have been conducted in collaboration with foreign agencies like US Homeland, French Embassy, FBI, NCCU UK, NCA UK, RCMP Canada along with four Interpol Global Programmes.
Eknath Shinde launches ‘Meri Mati Mera Desh’ campaign
- Maharashtra Chief Minister Eknath Shinde has launched the ‘Meri Mati, Mera Desh’ campaign at Mumbai’s historic August Kranti Maidan, in the presence of Deputy Chief Ministers Devendra Fadnavis and Ajit Pawar among other dignitaries.
- It was a matter of pride that the clarion call of Quit India and to establish Swarajya was given from Maharashtra’s soil.
- The concept of ‘Azadi ka Amrit Mahotsav’ and its concluding chapter, the ‘Meri Mati, Mera Desh’ campaign have been envisaged not only as a tribute to the martyrs but also to instill the values of patriotism and service towards the nation and nation-building.
- The event also saw all the dignitaries take the Panch Pran pledge, the unveiling of ‘Shilaphalakam’, a memorial with the names of local freedom fighters as well as a tree plantation under ‘Vasudha Vandan’.
- Mumbai’s civic body has said it will carry out plantation drives across three locations, wherein saplings of 75 local species will be planted to create an ‘Amritvatika’.
About Maharashtra
- Capital – Mumbai
- Chief Minister – Eknath Sindhe
- Deputy Chief Minsiter – Devendra Fadnavis & Ajit Pawar
- Governor – Ramesh Bais
National Institute of Industrial Engineering becomes the 21st IIM of India
- Mumbai, the country’s financial capital, gets its own prestigious Indian Institute of Management as the National Institute of Industrial Engineering (NITIE) will be renamed as the IIM-Mumbai after both Houses of the Parliament passed the IIM (Amendment) Bill 2023.
- The NITIE will be 21st IIM in the country and a second in Maharashtra, after the IIM Nagpur which was first among the six new-generation IIMs established by the Government of India in 2015.
- Presently, NITIE ranked 7th in the Management Category by National Institute Ranking Framework (NIRF) in 2023.
- Located in Mumbai’s Powai, on the banks of Vihar Lake, NITIE has a campus spread across 63 acres of forested hilltop.
International News
India to launch BRICS start-up forum
- Union Minister of Commerce and Industry, Piyush Goyal represented India at the virtual 7th BRICS (Brazil, Russia, India, China, and South Africa) Industry Minister’s Meeting, hosted by South Africa
- During the meeting, Goyal announced India’s plans to launch the BRICS Startup Forum in 2023.
- The minister while highlighting the transformation that has taken place in India, also commented on the expanding Startup India initiative that has led to the creation of nearly 100,000 startups in the country.
- He focused on “Transforming Production Systems” and the support India can offer to other BRICS members and the wider international community.
- They also re-emphasized the need for digitalization, industrialization, innovation, inclusiveness, and investment among BRICS countries.
- Through the declaration, the BRICS members acknowledged the need for human resource development and exploring opportunities for cooperation on upskilling and reskilling programs.
Banking and Financial
Repo rate unchanged at 6.5%
- The Reserve Bank of India (RBI) Governor Shaktikanta Das announced the third bi-monthly monetary policy for FY24.
- The three-day meeting of the six-member Monetary Policy Committee (MPC) of RBI was held from August 8 to 10.
- The RBI kept the repo rate unchanged at 6.5%. Since May 2022, the central bank has raised the repo rate by 250 basis points (bps).
Interest Rates
- Repo rate unchanged at 6.5%
- Standing deposit facility (SDF) rate remains at 6.25%
- Marginal standing facility (MSF) rate and Bank Rate maintained at 6.75%
- CRR at 4.5%
GDP Projections
- Real GDP growth projection for FY224 retained at 6.5%
- GDP forecast for Q1FY24 at 8%
- GDP forecast for Q2FY24 at 6.5
- GDP forecast for Q3FY24 at 6%
- GDP forecast for Q4FY24 at 5.7%
- GDP growth for Q1FY25 is projected at 6.6%
Inflation Forecast
- CPI inflation forecast for FY24 raised to 5.4% from 5.1%
- CPI inflation forecast for Q2FY24 raised to 6.2% from 5.2%
- CPI inflation forecast for Q3FY24 raised to 5.7% from 5.4%
- CPI inflation forecast for Q4FY24 retained at 5.2%
- CPI inflation forecast for April-June 2024 pegged at 5.2%
AU Small Finance Bank to provide 24×7 video banking service
- AU Small Finance Bank has launched 24×7 for 365 days of Video Banking, providing customers with real-time video calls for banking services.
- AU Small Finance Bank is the first bank in India to launch this type of service.
- This facility is available to the bank’s customers irrespective of the type of their banking relationship (credit card, loan, savings, digital savings, basic service savings, current account, etc).
- Even Pradhan Mantri Jan Dhan account holders of AU SFB can avail of this video banking service for free.
- Even on holidays and weekends, AU’s dedicated team would ensure face-to-face, human-centric interactions, underscoring the bank’s commitment to enhancing nationwide banking experiences.
- This 24X7 video calling feature deployed an advanced encryption layer for transmitting data between the customer’s device to the bank’s servers.
- On top of that the bank has also used an artificial intelligence (AI) powered program to detect faces of the customers. This will help ensure that only the account holder is interacting with the bank and not anyone else.
- Further traditional security measures like mobile OTP verification, personalized security questions, etc. are also used.
About AU Small Finance Bank Limited
- Founded – 1996
- Founder – Sanjay Agarwal
- Headquarters – Jaipur, Rajasthan
- MD & CEO – Sanjay Agarwal
- Executive Director – Uttam Tibrewal
- Tagline – Chalo Aage Badhein
Appointment and Resignation
S Paramesh appoints as ADG of Coast Guard
- S Paramesh has been appointed as Additional Director General of Indian Coast Guard.
- He specialized in Navigation & Direction and his sea commands include all major vessels of ICG.
- He is a recipient of the President’s Tatrakshak Medal for Distinguished Service and was also awarded the Director General Coast Guard Commendation in 2012 and FOCINC (East) Commendation in 2009.
Recent Appointment
- Strategic advisor for Cyrus Poonawalla Group’s – Keki Mistry
- Chairman of Central Board of Indirect Taxes and Customs (CBIC) – Sanjay Kumar Agarwal (replace Vivek Johri)
- President and CEO of Honeywell High Growth Region – Anant Maheshwari
- President of Qualcomm India – Savi Soin (replace Rajen Vagadia)
- Additional DG of Military Nurse Service – Amita Rani
Amit Jhingran appoints as MD & CEO of SBI Life Insurance
- The Insurance Regulatory and Development Authority of India (IRDAI) has approved the appointment of Amit Jhingran as the new MD & CEO of SBI Life Insurance Company.
- He had a successful career with the SBI spanning over 30 years.
- Currently, he serves as the Chief General Manager of the Hyderabad circle.
- He started as PO in August 1991 and has held various positions in international banking.
- Headquarters of IRDAI – Hyderabad, Telangana
Recent Appointment in Banking & Insurance Sector
- Non-executive chairman of Axis Bank – NS Vishwanathan
- MD & CEO of SBI Cards & Payment Services – Abhijit Chakravorty (replace Rama Mohan Rao Amara)
- Chairperson of International Financial Services Centres Authority (IFSCA) – K. Rajaraman (replace Injeti Srinivas)
- CEO of Financial Planning Standards Board (FPSB) – Krishna Mishra
- MD & CEO of UK-based Lloyds Banking Group – Sirisha Voruganti
Defence
Defence Ministry to switch to locally built OS Maya amid threats
- Defence Ministry has decided to replace the Microsoft Operating System (OS) in all computers connected to the Internet with a new OS ‘Maya’, based on open-source Ubuntu developed locally.
- Maya has the interface and all functionality like Windows and users will not feel much difference as they transition to it.
- Currently, Maya is being installed only in Defence Ministry systems and not on computers connected to the networks of the three Services. The three Services had also vetted it and would adopt it on service networks as well soon.
- Maya was developed by government development agencies within six months.
- Maya would prevent malware attacks and other cyberattacks which had seen a steep increase.
- To begin with, the direction is to install Maya on all computers connected to the Internet in South Block before August 15. In addition, an ‘endpoint detection and protection system’, Chakravyuh, is also being installed in these systems.
INS Chennai participates in PASSEX 2023 with Royal Saudi Navy
- INS Chennai participated in Passage Exercise (PASSEX) 2023 with the Royal Saudi Naval Ship HMS Al Jubail in the Red Sea.
- INS Chennai also conducted a port call to Jeddah to enhance defense alliances between India and Saudi Arabia.
- These collaborative actions not only fortified the bedrock of mutual reliance but also solidified the operational rapport between the two maritime forces.
- Furthermore, this exercise stood as a testament to the burgeoning interoperability that has taken root between the Indian Navy and its Saudi Arabian counterpart.
Recent Exercise
- 31st edition of Malabar Multilateral Exercise – Sydney, Australia
- First FALCON Shield-2023 Exercise between China & UAE – Xinjiang, China
- 15th edition of Nomadic Elephant 2023 exercise between India and Mongolia – Ulaanbaatar, Mongolia
- 7th edition of SALVEX exercise between India & USA – Kochi
- 7th edition of Japan-India Maritime Exercise 2023 (JIMEX 23) – Visakhapatnam
Sports
Neeraj Chopra to lead 28-member Indian team in World Athletics Championships
- Olympic champion javelin thrower Neeraj Chopra will once again headline India’s campaign in the World Athletics Championships beginning on August 19 in Budapest, Hungary with the country fielding a 28-member team.
- Reigning Diamond League champion Chopra is gunning for a gold medal in Budapest after winning a silver in the last edition in Eugene, USA in 2022.
- He has won two Diamond League Meetings this season — in Doha on May 5 and Lausanne on June 30.
- His season’s best is the 88.67m in Doha, the third longest throw this season behind 89.51m of Jakub Vadlajch of Czech Republic and 88.72m of Julian Weber of Germany.
- Meanwhile, Asian record-holder shot putter Tajinderpal Singh Toor has pulled out of the August 19-27 showpiece as he is recovering from the groin injury he sustained during the Asian Championships in July.
Important day
10 August – World Biofuel Day
- World Biofuel Day is observed every year on 10 August.
- Objective – To create awareness about the importance of non-fossil fuels as an alternative for the energy sector.
- The day also tries to highlight the government’s efforts to promote the biofuel sector.
- August 10 was chosen to mark World Biofuel Day as it was on this date in 1893 that German inventor Sir Rudolf Diesel successfully used peanut oil to operate a diesel engine.
- This discovery was exceptional as it opened a new path from fossil fuels to renewable and sustainable energy sources.
10 August – World Lion Day
- World Lion Day is observed every year on 10 August.
- Objective – To learn about the importance of lions in the natural world and the potential impacts of their extinction on humanity.
- Gujarat state in India is the only place outside of Africa where it is possible to witness lions in their natural habitat. The International Union for Conservation of Nature (IUCN) has designated the Asiatic Lion as an endangered species because of its limited population and constrained habitat.
- The history of World Lion Day can be traced back to the decline of lion populations by approximately 80 percent in the past century. This decline prompted the establishment of World Lion Day in 2013, with conservation enthusiasts Dereck and Beverly Joubert taking the lead.
- These individuals collaborated with National Geographic and initiated the Big Cat Initiative (BCI) in 2009 to safeguard and preserve the world’s remaining lion species.
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