06th September, 2024

1. CM Eknath Shinde Kicks Off the 27th National e-Governance Conference in Mumbai.
2. President Grants Delhi LG Authority to Form Any Statutory or Governing Body.
3. Star Health Launches ‘Special Care Gold,’ India’s First Braille Insurance Policy.
4. Axis Bank Unveils Innovative Digital Services: UPI-ATM & Bharat Connect for Businesses.
5. Bank of India Introduces 333-Day ‘Star Dhan Vriddhi’ FD Scheme with Higher Interest Rates.
6. IIMK LIVE and RBIH Sign MoU to Drive Innovation and Research in FinTech.
7. India’s UPI Processes ₹81 Trillion Transactions in April-July, Surpassing Global Digital Payment Leaders.
8. Paysharp Gains RBI Approval to Operate as a Payment Aggregator.
9. Kotak General Insurance Rebrands to Zurich Kotak General Insurance After Major Stake Sale.
10. National Teachers’ Day 2024 – Celebrated on September 5.
11. Assam to Mark August 20 as Sootea Day Starting in 2025.
12. Rajasthan Cabinet Approves 33% Quota for Women in Police Force.
13. Centre and Tripura Sign Peace Accord with Insurgent Groups.
14. India Urged to Exercise Caution Against Over-Financialisation of the Economy.
15. PCIM&H Earns BIS Integrated Management System (IMS) Certifications.
16. ONDC Wins Gold Award for Citizen-Centric Services in e-Governance from Department of Administrative Reforms.
17. Textile Ministry Launches India’s First Fashion Forecasting Initiative, VisioNxt.
18. Kapil Parmar Clinches India’s First Paralympic Judo Medal.
19. India and UAE Enhance Cooperation on Auditing Practices.
20. Indian Coast Guard Engages in 20th HACGAM Conference.
21. First Joint Commanders’ Conference of Indian Armed Forces Held.
22. HDFC Bank Introduces GIGA: Financial Services Tailored for India’s Gig Workers.
23. Aparna Yadav Named Vice-Chairperson of UP Women’s Commission.
24. Siddhartha Aggarwal Becomes Oldest Indian to Swim Solo Across the English Channel.
25. Tennis Legend Luis Ayala Passes Away at Age 91.
26. New Book Titled “From Oil to Lithium: Navigating the Future of Energy” by Kuldeep Gupta Released.
27. India Sets Sights on Increasing Alcoholic Beverage Exports to ₹8,000 Crore.
28. India and Singapore Forge Agreement on Semiconductor Collaboration.
29. Indian Para-Athletes Excel in Paralympic Club Throw Event.
30. Ajay Ratra Joins India’s Cricket Selection Committee.

National News

1. National Conference on e-Governance 2024 Held in Mumbai
   • What
     • The 27th National Conference on e-Governance (NCeG) took place on September 3-4, 2024, in Mumbai.
     • Organized by the Department of Administrative Reforms & Public Grievances (DARPG) and the Ministry of Electronics & Information Technology (MeitY) in collaboration with the Maharashtra government.
   • Tell me more
     • The theme of this year’s conference is ‘Viksit Bharat: Secure and Sustainable e-Service Delivery’.
     • The National Awards for e-Governance 2024 were conferred for 16 exemplary initiatives during the conference.

2. PCIM&H Achieves BIS Integrated Management System Certifications
   • What
     • The Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H) has received Bureau of Indian Standards (BIS) Integrated Management System (IMS) Certifications.
     • The certifications include IS/ISO 9001:2015 for Quality Management System, IS/ISO 14001:2015 for Environmental Management System, and IS/ISO 45001:2018 for Occupational Health & Safety Management System.
   • Why
     • These certifications affirm PCIM&H’s commitment to maintaining global standards in quality, environmental management, and workplace safety.
     • The aim is to enhance operational efficiency and support the Ministry of Ayush’s mission to promote high standards in Ayurveda, Siddha, Unani, and Homoeopathy.
   • Tell me more
     • The IMS certification system will assure adherence to international acceptance of the pharmacopoeia standards for ASU&H (Ayurveda, Siddha, Unani, and Homoeopathy) drugs.

Source: IMT

State News

1. President Empowers Delhi LG to Form Authorities and Appoint Members
   • What
     • President Droupadi Murmu has delegated powers to Delhi Lieutenant Governor (LG) Vinai Kumar Saxena to constitute and appoint members to any authority, board, commission, or statutory body.
   • Why
     • The decision aims to streamline governance and decision-making in the National Capital Territory of Delhi. It empowers the LG to take necessary actions for the effective administration of the capital.
   • Tell me more
     • The Ministry of Home Affairs (MHA) issued a notification regarding the President’s decision.
     • The notification cites Article 239 of the Constitution and Section 45D of the Government of National Capital Territory of Delhi Act, 1991.
     • Article 239 deals with the administration of Union territories.
       Source: NOA
2. Assam to Celebrate August 20 as Sootea Day
   • What
     • Assam Chief Minister Himanta Biswa Sarma visited Sootea Police Station and paid tribute to the martyrs who hoisted the national flag in 1942.
     • The state government will observe August 20 as Sootea Day to commemorate the historic event.
   • Tell me more
     • In response to a resolution to hoist the national flag in every police station on September 20, 1942, people of Sootea hoisted the tricolor at Sootea Police Station on August 20 under the leadership of late Biman Chandra Bora.
     • The government will construct a heritage monument at the historic site featuring a garden and statues of the leaders who participated in the flag hoisting.
     • Rs 5 crores have been allocated for the project, and additional funds will be provided by the state government.
       Source: ET
3. Rajasthan Cabinet Approves Women’s Reservation in Police
   • What
     • The Rajasthan Cabinet has approved 33% reservation for women in the police force.
     • The cabinet also approved a 5% additional allowance for pensioners.
   • Tell me more
     • An amendment to the Rajasthan Police Subordinate Services Rules, 1989, was approved to implement the one-third quota for women.
     • The cabinet also approved measures to include specially-abled children, dependent parents, and specially-abled siblings in the Pension Payment Order for retiring state government employees.
       Source: BS

Banking and Economy

1. Star Health Launches First Braille Insurance Policy
   • What
     • Star Health and Allied Insurance Company launched its first insurance policy in Braille called Special Care Gold.
     • The policy is tailored for individuals with 40% or more disability.
   • Why
     • The launch aims to ensure that visually-impaired individuals can access information and make independent decisions related to their health and finance.
   • Tell me more
     • The Braille version of the Special Care Gold policy document was produced in collaboration with the National Association of the Blind.
     • The policy offers comprehensive coverage for essential medical treatments and support services for individuals with physical or cognitive impairments.
     • Noted industrialist and visually impaired entrepreneur Srikanth Bolla was present during the launch.
       Source: ET
2. Axis Bank Introduces Innovative Digital Solutions
   • What
     • Axis Bank launched two new digital solutions at the Global Fintech Fest (GFF) event: ‘UPI-ATM’ and ‘Bharat Connect for Business’.
     • UPI-ATM allows cardless cash withdrawals and deposits using UPI technology, while Bharat Connect provides businesses with tools to manage their working capital.
   • Tell me more
     • The UPI-ATM is an integrated Android Cash Recycler that enables users to perform Interoperable Cardless Cash Deposit (ICD) and Interoperable Cardless Cash Withdrawal (ICCW) transactions.
       • The UPI-ATM allows cash withdrawals up to Rs 10,000 per transaction and eliminates the need for physical cards.
     • Bharat Connect will facilitate and digitize the flow of funds in the B2B ecosystem, helping businesses manage accounts payables and receivables more efficiently.
       • The Bharat Connect platform aims to integrate multiple business applications for better financial management.
         Source: AXIS
3. Bank of India Launches 333-Day Star Dhan Vriddhi FD
   • What
     • Bank of India (BOI) has launched a new fixed deposit scheme called ‘Star Dhan Vriddhi Fixed Deposit’. The scheme has a term limit of 333 days and offers attractive interest rates.
   • Tell me more
     • The Star Dhan Vriddhi Fixed Deposit offers an interest rate of 7.90% per annum for super senior citizens (aged above 80 years).
     • Senior citizens can benefit from an interest rate of 7.75% per annum, while the general public is offered a rate of 7.25% per annum.
     • Customers can avail additional benefits such as loans against fixed deposit and premature withdrawal facilities.
     • The scheme is available through any BOI branch, the BOI Omni Neo App, and internet banking.
       Source: BS
4. IIMK and RBIH Collaborate to Boost FinTech Innovation
   • What
     • The Indian Institute of Management Kozhikode (IIM-K) and the Reserve Bank Innovation Hub (RBIH) have signed a memorandum of understanding (MoU) to drive innovation and support start-ups in the FinTech sector in India.
   • Tell me more
     • Prof. Debashis Chatterjee is the Director of IIM-K and Chairman of IIMK LIVE.
     • Rajesh Bansal is the CEO of the Reserve Bank Innovation Hub.
       Source: TH
5. UPI Transactions Reach New Heights in 2024
   • What
     • Unified Payments Interface (UPI) processed nearly Rs 81 lakh crore in transactions from April to July 2024, representing a 37% increase compared to the previous year.
   • Tell me more
     • UPI processed 3,729.1 transactions per second, a 58% increase from 2022.
     • In July 2024, UPI recorded Rs 20.6 lakh crore in transactions, the highest monthly value ever, surpassing Rs 20 lakh crore for three consecutive months.
     • UPI accounted for over 40% of all digital payments in India.
     • The National Payments Corporation of India (NPCI) forecasts that UPI could reach 100 billion transactions in the next decade.
       Source: TOI
6. Paysharp Receives RBI Authorization as Payment Aggregator
   • What
     • Paysharp has received final authorization from the Reserve Bank of India (RBI) as a Payment Aggregator (PA) on August 30, 2024.
     • The startup had previously obtained an in-principal PA license in December 2022.
   • Why
     • The authorization allows Paysharp to expand its services and reach more merchants in India’s payment ecosystem.
   • Tell me more
     • The company holds ISO 27001:2022 and SOC 2 accreditations, ensuring high security standards.
     • Paysharp focuses on non-card-based payment solutions like UPI and virtual accounts for NEFT, IMPS, and RTGS collections.
     • The startup recently launched two products: Link Payment and Payment Pages powered by UPI, allowing merchants to collect payments easily.

7. Kotak General Insurance Rebrands as Zurich Kotak General Insurance
   • What
     • Kotak General Insurance has rebranded itself as Zurich Kotak General Insurance following Zurich Insurance Group’s acquisition of a majority stake on June 18, 2024.
     • The company’s legal name has been updated to Zurich Kotak General Insurance Company (India) Limited.
   • Why
     • It aims to contribute to the growth of India’s insurance sector and align with IRDAI’s “Insurance for All by 2047” initiative.
   • Tell me more
     • Zurich Kotak General Insurance aims to enhance the insurance landscape in India by merging Zurich’s global expertise with Kotak’s local insights.
     • The company has restructured its Board of Directors, with Srinivas Injeti (IAS) appointed as Chairman and D Sundaram and Ravi Venkataraman serving as Independent Directors.

8. India Must Avoid “Excessive Financialisation”, Says CEA
   • What
     • Chief Economic Advisor (CEA) V Anantha Nageswaran cautioned against excessive financialisation in India during the CII Financing 3.0 Summit organized by the Confederation of Indian Industries (CII) in Mumbai.
     • He emphasized the need to safeguard economic growth by retaining policy autonomy and managing global capital flows effectively.
   • Why
     • According to the CEA, “excessive financialization” refers to a phenomenon where the financial markets become larger than the real economy, and their considerations and priorities start to dominate public discourse and influence policy decisions
   • Tell me more
     • India’s stock market capitalization is currently around 140% of GDP, raising concerns about the financial market’s influence on macroeconomic outcomes.
     • Nageswaran noted that developed countries have faced challenges due to financialisation, which has resulted in economic instability and inequality.
     • He stated that India must avoid these pitfalls as it aspires to become a developed nation by 2047.
     • The CEA’s remarks highlight the need for India to strike a balance between financial market considerations and national economic priorities as it continues to grow. Excessive financialization can undermine sustainable and equitable development if left unchecked.
       Source: DH
9. HDFC Bank Launches GIGA for Gig Workers
   • What
     • HDFC Bank has launched GIGA, a financial suite designed specifically for gig workers and freelancers.
   • Why
     • The gig economy is estimated to employ between 30 to 50 million workers in India, including various professionals and delivery partners.
     • GIGA is intended to provide tailored financial products to support this diverse workforce.
   • Tell me more
     • GIGA includes a flexible savings account, current accounts, debit and credit cards, health insurance starting at ₹20 per day, and flexible investment options.
     • The GIGA savings account requires a quarterly balance of ₹10,000 for urban areas and ₹5,000 for semi-urban/rural areas.
     • The GIGA business credit card offers an interest-free credit period of 55 days and curated offers for freelancers.
     • GIGA also includes partnerships with Razorpay and Payoneer, enabling freelancers to collect payments from domestic and international clients using cutting-edge technology for risk and chargeback management.
     • GIGA also provides a SmartHub Vyapaar solution for seamless digital payment management.
       Source: BS

10. Government Targets $1 Billion in Beverage Exports
    • What
      • The Indian government plans to promote both alcoholic and non-alcoholic beverages internationally, aiming for $1 billion in exports over the next few years.
    • Tell me more
      • Currently, India ranks 40th in the world for alcoholic beverage exports, with exports valued at over ₹2,200 crore in 2023-24.
      • Major export destinations include the UAE, Singapore, Netherlands, Tanzania, Angola, Kenya, and Rwanda.
      • Diageo India is set to launch ‘Godawan’, a single-malt whisky made in Rajasthan, in the United Kingdom.

Source: ET

Defence News

1. Indian Coast Guard Participates in HACGAM 2024
   • What
     • The Indian Coast Guard (ICG) participated in the 20th Heads of Asian Coast Guard Agencies Meeting (HACGAM) held in Incheon, South Korea.
   • Why
     • The participation aims to foster cooperation among Asian Coast Guards to ensure safe, secure, and clean seas in the region.
   • Tell me more
     • The ICG also held its 12th annual bilateral meeting with the Korea Coast Guard on September 4, 2024, as part of a Memorandum of Understanding (MoU) signed in March 2006.
     • The discussions focused on enhancing operational interaction and capacity building in areas such as maritime search and rescue, pollution response, and law enforcement.
     • HACGAM consists of 23 member Coast Guard agencies and two associate members, Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) and United Nations Office on Drugs and Crime.

2. Maiden Joint Commanders’ Conference Held in Lucknow
   • What
     • The maiden Joint Commanders’ Conference (JCC) commenced at Lucknow by the Ministry of Defence and the Indian Armed Forces.
   • Why
     • The Joint Commanders’ Conference aims to enhance the operational preparedness of the Indian Armed Forces.
   • Tell me more
     • The conference aims to shape the future of India’s military to adapt to the changing operational environment under the theme ‘Sashakt and Surakshit Bharat: Transforming Armed Forces’.
       Source: PIB

Important Days

1. National Teachers’ Day 2024 – September 5
   • September 5 marks the birth anniversary of Dr Sarvepalli Radhakrishnan. He was the first Vice-President of India and the second President of the country.
     Source: IE

Sports

1. Kapil Parmar Wins India’s First Paralympic Judo Medal
   • Kapil Parmar won India’s first-ever Paralympic medal in judo, securing a bronze in the men’s 60kg (J1) category at the Paris 2024 Paralympics, by defeating Brazil’s Elielton de Oliveira.
     Source: ET
2. Siddhartha Agarwal Becomes Oldest Indian to Swim English Channel
   • Siddhartha Agarwal, at 49 years old, became the oldest Indian to swim across the English Channel. He completed the 42-kilometer swim in 15 hours and six minutes.
   • The previous record for the oldest solo swimmer of the Channel was held by Srikaanth Viswanathan, who completed it at the age of 46.
     Source: TH
3. Paralympics 2024 Winners
   • Dharambir won the gold medal and set a new Asian record in the men’s F51 club throw event at the Paralympics, while Pranav Soorma secured the silver medal.
   • Dharambir previously won a silver medal at the Tokyo Paralympics and has continued to improve his performance over the years.
   • The F51 club throw event emphasizes the athletes’ strength and technique, relying on their shoulders and arms to generate power.
     Source: TH

Memorandum of Understanding

1. CAG and UAE Sign MoU for Audit Cooperation
   • The Comptroller and Auditor General of India (CAG) signed a Memorandum of Understanding (MoU) with the UAE Accountability Authority.
   • The MoU focuses on areas such as knowledge exchange, capacity building, and best practices in public sector auditing.
     Source: NOA
2. India and Singapore Sign Semiconductor Cooperation Pact
   • What
     • India and Singapore have signed a key Memorandum of Understanding (MoU) to cooperate in the semiconductor industry during Prime Minister Narendra Modi’s visit to Singapore.
   • Tell me more
     • The MoU was signed as part of India and Singapore’s efforts to elevate their relationship to a “comprehensive strategic partnership.”
     • The agreement includes collaborations in digital technology, education, skill development, and healthcare, alongside semiconductors.
     • The semiconductor industry is crucial for both countries, with Singapore contributing about 10% of the global semiconductor output.

Source: BS

Appointments

1. Ajay Ratra Appointed as Selector for Indian Cricket Team
   • The Board of Control for Cricket in India (BCCI) appointed former Indian wicketkeeper Ajay Ratra as a selector for the men’s cricket team, replacing Salil Ankola.
     Source: TH

Miscellaneous

1. Tennis Legend Luis Ayala Passes Away at 91
   • Luis Ayala, a Chilean tennis great who played in two French Open finals, has died.
     Source: WP
2. “From Oil to Lithium: Navigating the Future of Energy” Book by Kuldeep Gupta
   • From Oil to Lithium: Navigating the Future of Energy, a transformative new book has been launched by acclaimed energy expert Kuldeep Gupta.
     Source: ANI

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