10th August, 2023

1. Department of Space (DoS)is coordinating the integration of NavIC (Navigation in Indian Constellation), India’s indigenous satellite navigation system, with Aadhaar enrolment devices.
2. ECOWAShas become active in the wake of ongoing crisis in Niger, where a military coup has ousted the President Mohamed Bazoum.
3. India and Japan are working towards restarting trilateral cooperation with Sri Lanka.
4. Bandhan Bank Limited has partnered with the Government of Odisha, to support the payment solutions for the Odisha Tourism Development Corporation (OTDC) Ltd.
5. PayU and Common Service Centre (CSC) Academy has collaborated to provide financial and digital education to underprivileged people.
6. The Securities and Exchange Board of India (SEBI) has reduced the timeline for listing securities after the closing of an Initial Public Offering (IPO) to 3 days (T+3) from the present requirement of 6 working days (T+6).
7. Two ships of the Indian Navy – INS Visakhapatnam and INS Trikand have visited Port Rashid, Dubai, UAE to conduct bilateral exercise ‘Zayed Talwar’.
8. 10 August- World Biofuel Day
9. 10 August- –
10. 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.
11. Apraava Energy Private Ltd, Mumbai has 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.
12. Raman Sukumar has been elected as Vice Chair of Working Group II (WGII) of the Intergovernmental Panel on Climate Change (IPCC) bureau for the 7th Assessment Report (AR7) cycle 2022.
13. Indian Central government has informed the Karnataka High Court that it will investigate the matter of the ‘Havana Syndrome’in India, in response to a petition from a Bengaluru resident.

National News

1. Department of Space (DoS)is coordinating the integration of NavIC (Navigation in Indian Constellation), India’s indigenous satellite navigation system, with Aadhaar enrolment devices.

NavIC and Aadhaar Enrolment Devices

• Field Trials and Technical Expertise: The DoS has successfully conducted field trials and provided technical expertise to finalize the procurement specifications for integrating NavIC into Aadhaar enrolment devices.
• Current Setup: The Aadhaar enrolment kits presently use GPS for location-based services, which gather and authenticate personal information during enrolment.

Source: TH

International News

1. ECOWAShas become active in the wake of ongoing crisis in Niger, where a military coup has ousted the President Mohamed Bazoum.
   • The Economic Community of West African States (ECOWAS) is a regional bloc established in 1975 with the goal of promoting economic integration among its 15 member countries in West Africa.
   • Members: These countries include Benin, Burkina Faso, Cape Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Sierra Leone, Senegal, and Togo.

• Aim: ECOWAS aims to achieve a single common currency and create a large trading bloc in various sectors like industry, transport, telecommunications, energy, finance, and culture.

Actions taken by ECOWAS:

• ECOWAS has intervened in conflicts within the region, having deployed peacekeeping forces and resolved conflicts in countries like Liberia and Sierra Leone.
• It suspended members like Mali, Guinea, and Burkina Faso following coups in those countries, refusing to recognize their new governments.
  Source: IE

2. India and Japan are working towards restarting trilateral cooperation with Sri Lanka.

Aim

• The trilateral cooperation is aimed at enhancing the Indo-Pacific region’s development and has become increasingly relevant as all three countries share a vision of an open, free, and inclusive Indo-Pacific.

Previous Developments

• Earlier, Sri Lanka had cancelled a joint India-Japan MoU for the East Container Terminal (ECT) project in Colombo.
• The cancellation of the MoU, as well as the suspension of the Japanese-funded light rail transit (LRT) project by the previous Gotabaya Rajapaksa government, had led to a freeze in ties between Tokyo and Colombo.
  Source: TH

Banking and Economy

1. Bandhan Bank Limited has partnered with the Government of Odisha, to support the payment solutions for the Odisha Tourism Development Corporation (OTDC) Ltd.
   • The bank has provided Point of Sale (PoS) machines to facilitate card payments by tourists.
   • Prime locations including Puri, Bhubaneshwar, Konark, Chilka and Gopalpur will be covered under this tie up.
     Source: ET

2. PayU and Common Service Centre (CSC) Academy has collaborated to provide financial and digital education to underprivileged people.
   • Beneficiaries- People between the ages of 15 and 60 and belonging to underprivileged segments of society including SC (Scheduled Caste), ST (Scheduled Tribe), BPL (Below Poverty Line), and Women.
   • Duration- July 1 2023 to June 30, 2024
   • Provision- Under this, Mobile vans will be stationed in and around three districts in Delhi/Gurugram (Haryana), Mumbai (Maharashtra), and Bengaluru (Karnataka) to provide financial and digital literacy instructions as well as other civic services.
     • Village Level Entrepreneurs (VLEs) from CSC will play a pivotal role in administering this campaign, aiming to train approximately 50,000 individuals per year through each van.
   • PayU India is a leading online payment service provider in India, and CSC Academy is a SPV (Special Purpose Vehicle) of the Ministry of Electronics & Information Technology (MeitY).
     Source: ET
3. The Securities and Exchange Board of India (SEBI) has reduced the timeline for listing securities after the closing of an Initial Public Offering (IPO) to 3 days (T+3) from the present requirement of 6 working days (T+6).
   • This will be an option for IPOs opening on or after September 1, 2023, and will be mandatory for public issues opening after December 1, 2023.
   • According to SEBI, the reduction in timelines for listing and trading of shares will benefit both issuers and investors.
   • Under the new guidelines, companies will have to finalise allotment before 6 pm on T+1 day. The transfer of funds will be made to unsuccessful applicants on T+2 day.
   • Benefits:
     • Swift access to raised capital allows issuers to promptly deploy funds for business expansion and other operational enhancements.
     • Early access to credit ensures investors have more flexibility in allocating funds for other investment.
       Source: LM

Defence News

1. Two ships of the Indian Navy – INS Visakhapatnam and INS Trikand have visited Port Rashid, Dubai, UAE to conduct bilateral exercise ‘Zayed Talwar’.
   • Purpose- To boost the maritime partnership between the two navies and foster a common understanding of the security challenges in the region.
   • Other bilateral exercisesbetween the two countries-
     • In-UAE BILAT (bilateral naval exercise)
     • Desert Eagle-II (bilateral air force exercise)
     • Exercise Desert Flag-VI.
   • In the year 2022-23, UAE was India’s 3rdlargest trading partner and 2nd largest export destination.

Important Days

1. 10 August- World Biofuel Day
   • Purpose- To create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels.
     • The day was first observed in 2015 by theMinistry of Petroleum and Gas.

What are biofuels?

• Biofuels are environment-friendly fuels that can be produced using biological materials like agricultural waste, trees, crops or even grass.
• In contrast to fossil fuels, biofuels are renewable, sustainable and biodegradable in nature.

Types of Biofuels in India

2. 10 August- World Lion Day
   
   
   
   
   Purpose:  To create awareness about conservation & protection of Lions.

Historical Context

• World Lion Day was first established in 2013 by Big Cat Rescue, the world’s largest accredited sanctuary dedicated to lions.
• It was co-founded by Dereck and Beverly Joubert.
• In 2009, the Jouberts approached “National Geographic” and formed a partnership with them to create the Big Cat Initiative (B.C.I.).

Source: PIB

Memorandum of Understanding

1. 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.
   • 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.
   • The Cottage and Rural Industries Department will identify about 1,000 artisans in handloom and handicrafts through its Hastkala Setu Yojana program.
     Source: ET

   
   
2. Apraava Energy Private Ltd, Mumbai has 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.
   Source: PIB

Appointments

1. Raman Sukumar has been elected as Vice Chair of Working Group II (WGII) of the Intergovernmental Panel on Climate Change (IPCC) bureau for the 7th Assessment Report (AR7) cycle 2022.

Source: LM

Miscellaneous

1. Indian Central government has informed the Karnataka High Court that it will investigate the matter of the ‘Havana Syndrome’in India, in response to a petition from a Bengaluru resident.
   • Havana Syndrome refers to a set of mental health symptomsincluding – hearing certain sounds without any outside noise, nausea and headaches, memory loss and balance issues.
   • The causes behind Havana Syndrome were not entirely certain but speculated to be “sonic attacks”.
   • Some US based studies suggest the victims may have been subjected to high-powered microwavesthat damaged/interfered with the nervous system.
   • Beams of high-powered microwaves may have been sent through a special gadget – a “microwave weapon”, however there is no conclusive evidence of their existence.
     Source: IE

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