08th August, 2023
Sri Lanka Unique Digital Identity Project (SLUDI), e-CARe (e-clearance for after life remains), Amrit Bharat Station Scheme, 1st Integrated theatre command, Central Registrar of Cooperative Societies (CRCS), Swedish export credit agency, Common online dispute resolution (ODR) portal, Sashidhar Jagdishan, National Handloom Day, World Archery Championship 2023, Australian Open Super 500 badminton tournament, Sanjay Kumar Agarwal, Vijay Kumar Sarawat, India 5G testbed
- India has handed over ₹450 million to Sri Lanka to fund its digital identity project
- Central government has launched e-CARe (e-clearance for after life remains) portal to facilitate fast transfer of mortal remains of Indian nationals who die abroad.
- Prime Minister has laid the foundation stone for the rejuvenation of 13 railway stations under the Amrit Bharat Station Scheme (ABSS) in Karnataka.
- India will get its 1st Integrated theatre command in August.
- Union Home Minister has launched the digital portal of the Central Registrar of Cooperative Societies (CRCS) in Pune.
- NASA and Axiom Space have signed an order for the 4th private astronaut mission to the International Space Station.
- Reliance Jio has received a $2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout.
- Banks have written off bad loans worth ₹14.56 lakh crore in the last 9 financial years starting 2014-15, according to a reply in Parliament.
- SEBI has announced the establishment of a Common online dispute resolution (ODR) portal.
- HDFC Bank’s Sashidhar Jagdishan has emerged as the highest-paid bank chief executive in financial year 2022-23, grossing over Rs 10.55 crore in overall pay.
- 7 August- National Handloom Day (9th edition); Theme- “Handlooms for Sustainable Fashion”
- 6 August- Hiroshima Day (76th anniversary)
- Australian Open Super 500 badminton tournament
- World Archery Championship 2023 in Berlin, Germany
- Ministry of Railways and IIT Madras has signed a memorandum of understanding ((MoU) to establish the India 5G testbed.
- Sanjay Kumar Agarwal has been appointed as the chairman of Central Board of Indirect Taxes and Customs (CBIC).
- Vijay Kumar Sarawat has been appointed as the Chairman of Quantum Ecosystems Technology Council of India (QETCI).
Sri Lanka Unique Digital Identity Project (SLUDI).
Table of Content
National News
- India has handed over ₹450 million to Sri Lanka to fund its digital identity project
- Aim of the project- To collect biographic and biometric information, including facial, iris and fingerprint data, which will be stored in a centralised system to issue identification cards as per the standards set by the International Civil Aviation Organisation (ICAO).
- How will it be beneficial?
- The implementation of the project would lead to more effective and efficient delivery of government services, poverty reduction and welfare programs; financial inclusion through better access to banking and other products/services.
Sri Lanka Unique Digital Identity Project (SLUDI).
| Knowledge Nuggets - |
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| • The SLUDI project commenced with the signing of a MoU between Sri Lanka and India in March 2022 and an Indo-Sri Lanka Joint Project Monitoring Committee (JPMC) for the Sri Lanka Unique Digital Identity Project (SL-UDI) was introduced. • The Government of India is overseeing the software development for the SL-UDI. |
Source: TH
- Central government has launched e-CARe (e-clearance for after life remains) portal to facilitate fast transfer of mortal remains of Indian nationals who die abroad.
- A nodal officer from Airport Health Organization will monitor it He will scrutinize and give fast track approvals.
- Documents needed- Scanned copies of four documents—death certificate, embalming certificate, NOC from Indian Embassy or consulate and cancelled passport of the deceased.
- The portal has two provisions- One for bringing dead bodies from aboard while other one is to bring mortal remains.
- As a part of the plan, the information will be updated through email, text & what app messages to Central International Health Division, Nodal officer, Airport Health Offices, consignees and respective airlines.
- Final verification of the original documents will be performed at the airport by the concerned official.
Source: LM
- Prime Minister has laid the foundation stone for the rejuvenation of 13 railway stations under the Amrit Bharat Station Scheme (ABSS) in Karnataka.
- This is part of the all-India launch of laying foundation stone for work on 508 stations in various States with an investment of ₹25,000 crore.
Who will monitor the portal?
| Knowledge Nuggets - |
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| What is the Amrit Bharat Station Scheme (ABSS)? • It was launched in February 2023 by the Ministry of Railways. • The scheme plans to redevelop 1,309 stations across the country and is based on Master Planning for long term. Objectives of the ABSS: • The ABSS aims at enhancing the facilities beyond the Minimum Essential Amenities. • It also aimed at construction of Roof Plazas and City Centres at the station. • It caters for the introduction of new amenities as well as upgradation and replacement of existing amenities. Scope of work under ABSS: The ABSS involves improvement of amenities at the stations like- • Entry and exit, circulating areas, waiting halls, toilets, lift/escalators, cleanliness, free Wi-Fi • Kiosks for local products through schemes like ‘One Station One Product’ • Nominated spaces for business meetings, landscaping, etc. |
Source: TH
- India will get its 1st Integrated theatre command in August.
What are integrated theatre commands?- Combining the resources of all three services (the Army, Navy, and Air Force) under a single commander to secure a particular geographic area is known as integrated theatre commands.
- There are theatre commands in several countries, including China and the United States.
- The Shekatkar committeehas recommended the creation of 3 integrated theatre commands — northern for the China border, western for the Pakistan border, and southern for the maritime role.
Source: ET
- Union Home Minister has launched the digital portal of the Central Registrar of Cooperative Societies (CRCS) in Pune.
- The portal is aimed at promoting ease of doing business in the cooperative sector and streamlining various processes.
- Objectives: Implementing completely paperless applications, ensuring automatic compliance with the Multi-State Co-operative Societies Act (MSCS Act) and rules through software.
| Knowledge Nuggets - |
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| About CRCS • It is a statutory body under the Multi-State Cooperative Societies (MSCS) Act, 2002. • It is responsible for the registration of MSCSs, amendment to by-laws of MSCSs, arbitration, etc. • Cooperative societies confined to one state only are governed by cooperative laws of respective state governments. |
Source: ET
- ISRO has transferred the IMS-1 Satellite Bus Technology to Alpha Design Technologies Ltd. (ADTL), promoting private industry participationin India’s space sector.
- NewSpace India Limited (NSIL), the commercial arm of ISRO, has facilitated the technology transfer.
- Satellite Bus is the main body of a satellite holding all the scientific equipment and necessary payloads.
- The IMS-1 satellite bus is a small satellite platform developed by the UR Rao Satellite Centre, Bengaluru.
- Its design aims to enable low-cost access to space and can serve as a dedicated vehicle for various payloads (up to 30kg).
- Significance- The transfer marks the first instance of ISRO’s satellite bus technologies being shared with private companies.
Source: isro
What is a satellite bus?
International News
- NASA and Axiom Space have signed an order for the 4th private astronaut mission to the International Space Station.
- The mission, known as Axiom Mission 4 (Ax-4), is part of Nasa’s broader strategy and will comprise four crew members.
- The Ax-4 mission is expected to spend up to 14 days docked to the ISS.
Source: IT
Banking and Economy
- Reliance Jio has received a $2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout.
- RJIL tied up its first-ever Swedish Export Credit Agency (EKN) supported facilities of USD 2.2 billion equivalent making it the largest cover ever provided by EKN for a deal to a private corporate globally.
Source: LM
- RJIL tied up its first-ever Swedish Export Credit Agency (EKN) supported facilities of USD 2.2 billion equivalent making it the largest cover ever provided by EKN for a deal to a private corporate globally.
- Banks have written off bad loans worth ₹14.56 lakh crore in the last 9 financial years starting 2014-15, according to a reply in Parliament.
- Out of the total ₹14,56,226 crore, written off loans of large industries and services stood at ₹7,40,968 crore.
| Knowledge Nuggets - |
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| What does loan write-offs mean? • Loan write-offs - Writing off a loan essentially means it will no longer be counted as an asset. • Significance - By writing off loans, a bank can reduce the level of non-performing assets (NPAs) on its books. o The amount so written off reduces the bank’s tax liability. • Reason - The bank writes off a loan after the borrower has defaulted on the loan repayment and there is a very low chance of recovery. o All loan write-offs are not lost money. o Many write-off cases continue to be on birth register of banks/financial institutions. It is resorted to even in cases where the bank has not exhausted all avenues for recovery of dues. o Such write-offs do not affect the right of the bank to proceed against the borrowers to collect the dues. Any recovery made against the borrower is considered as a profit for the bank in that financial year. |
Source: ET
- SEBI has announced the establishment of a Common online dispute resolution (ODR) portal.
- Objective- To streamline the existing dispute resolution mechanism by establishing a less time-consuming common ODR portal.
- Current grievance redressal mechanism- SEBI Complaint Redressal System (SCORES) will be integrated with ODR mechanism to ensure that complainants unsatisfied with SCORES resolution can approach ODR.
- Market infrastructure institutions (MIIs)- stock exchanges and depositories will identify and empanel ODR institutions and establish and operate a common ODR portal with empanelled ODR institutions.
- All listed companies, specified intermediaries and regulated entities in securities market will enrol on ODR portal.
- Objective- To streamline the existing dispute resolution mechanism by establishing a less time-consuming common ODR portal.
| Knowledge Nuggets - |
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| • ODR is the resolution of disputes, particularly small and medium-value cases, using digital technology and Alternative Dispute Resolution (ADR) techniques, such as arbitration, conciliation and mediation. • Significance of ODR: Reduction in court cases, Cost-effective and efficient resolution, increased enforcement of contracts etc. |
Source: IE
- HDFC Bank’s Sashidhar Jagdishan has emerged as the highest-paid bank chief executive in financial year 2022-23, grossing over Rs 10.55 crore in overall pay.
Source: BS
Important Days
- 7 August- National Handloom Day (9th edition); Theme- “Handlooms for Sustainable Fashion”
- Purpose- To generate awareness about the importance of the handloom industry and to recognise the efforts as well as skills of the community of weavers engaged in the sector.
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| History- • Swadeshi Movement was launched on August 7th, 1905 to boycott imported goods and promote the make-in-India products in a meeting held at Calcutta Town Hall. • Prime Minister Narendra Modi inaugurated the first National Handloom Day on 7 August 2015 in Chennai. |
Source: IT
- 6 August- Hiroshima Day (76th anniversary)
- Purpose- To advocate for peace politics and raise awareness of the catastrophic consequences of the atomic bomb attack on Hiroshima.
| Knowledge Nuggets - |
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| History- • In 1945, the United States deployed two atomic bombs, named 'The Little Boy' and 'The Fat Man,' on Hiroshima and Nagasaki on August 6 and 9, respectively. • The bombing of Hiroshima resulted in the loss of 39% of the city's civilian population. |
Source: IT
Sports
- Australian Open Super 500 badminton tournament
- HS Prannoy has won silver medal in Men’s singles He lost to China’s Weng Hong Yang (gold medal) in the finals.
- The BWF World Tour is divided into six levels, namely World Tour Finals, four Super 1000, six Super 750, seven Super 500, and 11 Super 300 in order. One other category of tournament, the BWF Tour Super 100 level, also offers ranking points.
- The Super 500 is a Grade 2 (level 4) event in the BWF tournament ranking system.
Source: IE
- World Archery Championship 2023 in Berlin, Germany
- Medal Tally– 4 (3 gold and 1 bronze)
- Indian Winners-
- Women’s individual compound- Aditi Gopichand Swami (Gold)
- Men’s individual compound- Ojas Pravin Deotale (Gold)
- Women’s individual compound- Jyothi Surekha Vennam (Bronze)
- Women’s compound team- Jyothi Surekha Vennam, Parneet Kaur and Aditi Gopichand Swami (Gold)
- The World Archery Championships 2023 in Berlin is the first Paris 2024 Olympic qualifier event for archers.
Source: Olympics.com
Memorandum of Understanding
- Ministry of Railways and IIT Madras has signed a memorandum of understanding ((MoU) to establish the India 5G testbed.
- The testbed will be located at the Indian Railway Institute of Signal Engineering and Telecommunications (IRISET) in Secunderabad.
- Aim: To accelerate the indigenisation efforts of Indian railways in the field of communications and create a testing facility for Indian railways.
| Knowledge Nuggets - |
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| Test bed and its need • The 5G applications are examined in test bed environment before a commercial rollout. This allows them to understand how the network will perform in real-world applications. • In the absence of the indigenous 5G test bed, Indian start-ups and industry players would have to take their products abroad for testing and validation purposes. |
Source: HBL
Appointments
- Sanjay Kumar Agarwal has been appointed as the chairman of Central Board of Indirect Taxes and Customs (CBIC).
- New Member- Surjit Bhujabal
| Knowledge Nuggets - |
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| About CBIC • CBIC is a statutory body established under the Central Boards of Revenue Act, 1963. • It is a part of the Department of Revenue under the Ministry of Finance. • It deals with the tasks of formulation of policy concerning levy and collection of Customs, Central Excise duties, Central GST and IGST, administration of these taxes, prevention of smuggling and also narcotics to the extent prescribed. |
Source: LM
- Vijay Kumar Sarawat has been appointed as the Chairman of Quantum Ecosystems Technology Council of India (QETCI).
- Quantum Ecosystems Technology Council of India (QETCI) is a Not for Profit – Section 8 company which aims to bring Industry, Academia, Government, Partner Councils / Associations in Quantum together, based on a membership approach.
Source: TH
- Quantum Ecosystems Technology Council of India (QETCI) is a Not for Profit – Section 8 company which aims to bring Industry, Academia, Government, Partner Councils / Associations in Quantum together, based on a membership approach.
About Anuj Jindal
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Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.
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