30th-31st August, 2023

1. Business 20 (B20) Summit 2023, an official G20 dialogue forum with the global business community, was recently held in New Delhi.
2. Union Minister of Ministry of Road Transport and Highways (MoRTH) has launched the world’s first prototype of BS-VI (Bharat Stage Six) Stage II compliant “Electrified Flex Fuel vehicle”, developed by Toyota Innova Hycross.
3. President of India has released a commemorative 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.
4. Union Minister of Heavy Industries (MHI) in ‘Review of Production Linked Incentive-Auto Scheme’ has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year.
5. Ministry of Textiles has approved the Startup Guidelines for Technical Textiles – Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT).
6. Tamil Nadu Chief Minister, MK Stalin has inaugurated the expansion of the state governments’ free breakfast schemeto all state-run primary schools from classes 1 to 5.
7. Chief Minister of Gujarat has launched a software called the Panchayati Raj Accounting Information System Automation (PRAISA), to make online payment compulsory for Panchayati Raj institutions.
8. Government of Maharashtrahas signed a Memorandum of Understanding (MoU) with DFL Deutsche Fußball Liga GmbH (DFL) to develop the football ecosystem in the state.
9. Global Environment Facility (GEF) has launched the new Global Biodiversity Framework Fund (GBFF) during 7th Assembly of the Global Environment Facility (GEF) in Vancouver,
10. DBS Bank Ltdin collaboration with Maptrasco, has completed the first “live” transaction of electronic Bills of Lading (eBL) for shipments between Singapore and India.
11. Yes Bank Ltd has launched a co-branded Corporate Credit Card named ‘YES BANK Zaggle Corporate Credit Card’in partnership with Zaggle, a spend management platform.
12. Life Insurance Corporation of India has tied up with a Mumbai based Saraswat Cooperative Bank Ltd. to increase the distribution of life insurance products through the Bancassurance channel.
13. Asian Development Bank has partnered with Fourth Partner Energy to build solar power unit in Tamil Nadu.
14. Axis Bank Limited has launched ‘Infinity Savings Account’, a first-of-its-kind fully Digital fixed fee- based savings account.
15. 29 August- National Sports Day (NSD)
16. 29 August: International Day against Nuclear Tests
17. 30 August: International Day of the Victims of Enforced Disappearances 2023
18. 30 August: National Small Industry Day 2023
19. Indian Women’s Hockey Team has won the inauguralWomen’s Hockey5s Asia Cup by defeating Thailand (7-2) in the final match.  
20. WR Chess Team has won the FIDE World Rapid Team Championship 2023.
21. Garden Reach Shipbuilders and Engineers (GRSE) Ltd, Kolkata, has signed a Memorandum of Understanding (MoU) with S.Dempo Holdings Private Limited (Dempo Group) for building commercial vessels.
22. Government of India has signed a Memorandum of Understanding with Government of New Zealand for an Open Sky Policy, which will allow more flights between various cities in the two countries.
23. National Institution for Transforming India(NITI) Aayog and United Nations Development Programme(UNDP) India have signed a Memorandum of Understanding (MoU) to speed up the efforts to achieve the Sustainable Development Goals (SDGs).
24. Goa Shipyard Limited (GSL) has signed a Memorandum of Understanding (MoU) with Kenya Shipyard Limited (KSL) for capacity building and collaboration in ship design and building.
25. Umesh Revankar has been appointed as the chairman of the Finance Industry Development Council (FIDC) for a period of 2 years.
26. Geetika Srivastava has been appointed as 1st woman Charge d’Affaires in the Indian high commission in Islamabad, Pakistan.
27. Jayanta Mahapatra, an Eminent Indian English poet and Litterateur, who was the first recipient of Sahitya Akademi award for English poetry (1981) has passed away.

National News

1. Business 20 (B20) Summit 2023, an official G20 dialogue forum with the global business community, was recently held in New Delhi.
   • The theme of B20 India 2023 was ‘A.I.S.E’, an acronym for ‘Responsible, Accelerated, Innovative, Sustainable, Equitable.
   • The Business 20 (B20) is the official G20 dialogue forum with the global business community. It was established in 2010.
   • The B20 works to deliver concrete actionable policy recommendations to spur economic growth and development.
   • The chair of B20 India is Mr N Chandrasekaran, Executive Chairman, Tata Sons.
   • At the culmination of the summit, N Chandrasekaran, Chair of B20 India handed over the B20 Presidency to Brazil.
     Source: PIB
2. Union Minister of Ministry of Road Transport and Highways (MoRTH) has launched the world’s first prototype of BS-VI (Bharat Stage Six) Stage II compliant “Electrified Flex Fuel vehicle”, developed by Toyota Innova Hycross.
   • This is also India’s first flex-fuel electrified vehicle that can run in either electric mode or 100% ethanol.
   • Flex Fuel Technology is a technology that allows the engine of the vehicle to utilize a higher blend of ethanol in petrol or gasoline (more than 20%).

3. President of India has released a commemorative 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.

4. Union Minister of Heavy Industries (MHI) in ‘Review of Production Linked Incentive-Auto Scheme’ has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year.
   • The program that was supposed to last for five years, from 2022-23 to 2026-27, will be active till 2027-28.
   • The distribution of the incentives will be on a quarterly basis, instead of an annual plan.
   • The ministry also approved a request to add two more TAs to test the vehicles and components.
     • Global Automotive Research Centre (GARC) in Chennai, Tamil Nadu.
     • National Automotive Test Tracks (NATRAX) in Madhya Pradesh.
       • Current testing centres:Automotive Research Association of India (ARAI) in Pune, Maharashtra and the International Centre for Automotive Technology (iCAT) in Manesar, Haryana.

5. Ministry of Textiles has approved the Startup Guidelines for Technical Textiles – Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles (GREAT).
   • This initiative offers a grant of up to Rs 50 Lakhs, supporting aspiring innovators in the technical textiles field for 18 months.
   • To be eligible for the grant, the startups shouldn’t be more than five years
   • The government has also given its nod to 26 institutes for upgrading their laboratory infrastructure and training in the application areas of technical textiles.
   • The government has notified two QCOs (quality control orders) for 31 technical textile products including 19 geotextiles and 12 protective textiles.
     Source: LM

State News

1. Tamil Nadu Chief Minister, MK Stalin has inaugurated the expansion of the state governments’ free breakfast schemeto all state-run primary schools from classes 1 to 5.
   • With this scheme, TN has now become the first statein India to provide free breakfast to students in all government schools.
   • This scheme is viewed as an extension of the mid-day meals, the CM’s Free Breakfast Scheme is aimed at reducing malnutrition and increasing attendance by providing nutritious breakfast.

2. Chief Minister of Gujarat has launched a software called the Panchayati Raj Accounting Information System Automation (PRAISA), to make online payment compulsory for Panchayati Raj institutions.
   • The software was launched at a state-level ‘Meri Mati Mera Desh campaign’ in Gandhinagar, Gujarat.
   • “Meri Maati Mera Desh”, is a nationwide and people led “Jan bhagidari” initiative to commemorate 75 years of India’s independence.
     Source: ET

3. Government of Maharashtrahas signed a Memorandum of Understanding (MoU) with DFL Deutsche Fußball Liga GmbH (DFL) to develop the football ecosystem in the state.
   • The MoU has laid out three core elements to support the advancement of football within the state of Maharashtra-
     • Improving the technical and sporting expertise at all levels within clubs, associations, colleges and schools
     • Strengthening football structures across the Indian subcontinent
     • Specifically supporting the progression of football within the Maharashtra district.
       Source: Khelnow

International News

1. Global Environment Facility (GEF) has launched the new Global Biodiversity Framework Fund (GBFF) during 7th Assembly of the Global Environment Facility (GEF) in Vancouver,

About the framework

• Aim: To directly support global efforts to halt and reverse biodiversity loss by 2030, a goal agreed to by 196 countries as part of the Global Biodiversity Framework established at COP15.
• Funding: Governments, non-profits, and the private sector can now contribute their funds to GBFF.
• Fund allocations: 20% will be allocated to Indigenous Peoples and local communities (IPLCs)
• Note: This is the first time there would be funds channelled to non-state actors like the indigenous communities.
• First meeting: The first GBFF Council meeting will be held in January 2024.

Source: GEF

Banking and Economy

1. DBS Bank Ltdin collaboration with Maptrasco, has completed the first “live” transaction of electronic Bills of Lading (eBL) for shipments between Singapore and India.
   • The project supports the United Nations Model Law for Electronic Transferable Records and aims to drive cross-border document and title exchanges.
   • The successful live transaction between Singapore and India is the first step towards establishing a fully digital trade corridor between the two countries.
   • DBS Bank Ltdwas formerly known as Development Bank of Singapore Limited and Maptrasco is a Singapore-based commodities trader.

2. Yes Bank Ltd has launched a co-branded Corporate Credit Card named ‘YES BANK Zaggle Corporate Credit Card’in partnership with Zaggle, a spend management platform.
   • Aim: To empower businesses to redefine their corporate payments, expenditure management, and cash flow optimisation.
   • The card provides a solution by granting businesses direct authority over company expenses. This includes setting individual spending limits, applying merchant category restrictions, and implementing diverse controls.
     Source: ToI

   
   
3. Life Insurance Corporation of India has tied up with a Mumbai based Saraswat Cooperative Bank Ltd. to increase the distribution of life insurance products through the Bancassurance channel.
   • Benefit- Citizens and Customers of Saraswat Bank can now purchase LIC insurance products directly through Saraswat Bank.

   What is Bancassurance?

   • It refers to the partnership or relationship between a Bank and an insurance company whereby the insurance company leverages the Bank’s sales channel in order to sell insurance products.
     Source: TH

4. Asian Development Bank has partnered with Fourth Partner Energy to build solar power unit in Tamil Nadu.
   • The two have signed a long-term loan of up to $14.7 million to construct and operate a 25-megawatt solar photovoltaic-based power plant located in Tirunelveli district in the state of Tamil Nadu to increase clean and low-cost energy supply to commercial and industrial customers.
     Source: ADB

5. Axis Bank Limited has launched ‘Infinity Savings Account’, a first-of-its-kind fully Digital fixed fee- based savings account.
   • This innovative savings account offers Axis Bank’s customers exclusive privileges, such as waived Average Monthly Balance (AMB) requirement, complimentary debit cards, and waiver of all the domestic charges against a small monthly recurring fee of ₹150 or annual fee of Rs1650.
     Source: LM

   
   

Important Days

1. 29 August- National Sports Day (NSD)
   • Objective: To commemorate the birth anniversary of hockey legend Major Dhyan Chand
     • He is also known as Hockey Wizard’ and ‘The Magician’.
   • The first National Sports Day was celebrated on August 29, 2012 and hence this year marks the 12th anniversary of Rashtriya Khel Divas. 
   • Significance: Encourages people of all ages to embrace physical fitness, regular exercise and a healthy lifestyle.
     • Serves as a catalyst for developing a robust sports culture in India.
   • Theme – “Sports are an enabler to an inclusive and fit society”
   • A National Sports Federations (NSF) portal has also been launched this year.
     • 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.
     • 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.
       Source: LM
2. 29 August: International Day against Nuclear Tests
   • The day was established when the United Nations General Assembly (UNGA) adopted a resolution on December 2, 2009, in its 64th session.
   • This resolution was initiated by Kazakhstan to mark the 18th anniversary of the closing of the USSR-controlled Semipalatinsk Nuclear Test Site in 1991 at Kazakhstan.
   • The first-ever International Day against Nuclear Tests was commemorated on 29 August, 2010.
   • The world’s first nuclear explosionoccurred on July 16, 1945, when a plutonium implosion device was tested at a site in New Mexico. The code name for the test was “Trinity”.

3. 30 August: International Day of the Victims of Enforced Disappearances 2023
   • United Nations General Assembly (UNGA) has adopted the resolution on 21st December 2010.
   • The first-ever International Day of the Victims of Enforced Disappearances was observed on the 30th of August 2001.
   • Purpose: To raise awareness of the crime of enforced disappearance and to honor the victims and their families.
     Source: UN
4. 30 August: National Small Industry Day 2023
   • Purpose: To celebrate the invaluable contributions made by the small-scale industry to India’s growth.
   • This day is also aimed to promote small businesses nationwide and offer job opportunities to unemployed males and females for the betterment of their lives.
     Source: FE

Sports

1. Indian Women’s Hockey Team has won the inauguralWomen’s Hockey5s Asia Cup by defeating Thailand (7-2) in the final match.  
   • With this victory, India has qualified for the FIH Women Hockey 5s World Cup 2024, the inaugural edition of FIH Hockey5s World Cup, to be held in Muscat, Oman in 2024.
     Source: ToI
2. WR Chess Team has won the FIDE World Rapid Team Championship 2023.
   • This was the first edition of the championship held in Germany.
   • FIDE World Rapid Team 2023 is organized by FIDE in partnership with WR Logistics GmbH and witnessed the participation of 36 teams and 300 players from different countries.
     • Each team has at least six and not more than nine players, including at least one female player and one recreational player.
   • Team Freedom has finished second, while the Indian squad of MGD1 was third.
     Source: FIDE

Memorandum of Understanding

1. Garden Reach Shipbuilders and Engineers (GRSE) Ltd, Kolkata, has signed a Memorandum of Understanding (MoU) with S.Dempo Holdings Private Limited (Dempo Group) for building commercial vessels.
   • The vessels will be built at the 3 shipyards of the Dempo Group, including two in Goa and one in Bhavnagar, Gujarat.
   • It marks the GRSE’s first attempt to build commercial vessels.
     • GRSE is a Public Sector Undertaking Company under the Ministry of Defence.
       Source: PSU
2. Government of India has signed a Memorandum of Understanding with Government of New Zealand for an Open Sky Policy, which will allow more flights between various cities in the two countries.
   • Under this, New Zealand’s designated airlines can operate unrestricted services with any type of aircraft, to/from six Indian cities: Delhi, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata.
   • This is set to amplify bilateral civil aviation relations.

3. National Institution for Transforming India(NITI) Aayog and United Nations Development Programme (UNDP) India have signed a Memorandum of Understanding (MoU) to speed up the efforts to achieve the Sustainable Development Goals (SDGs).
   • The SDGs also 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.
   • The SDGs were adopted by the United Nations in 2015.
     Source: PIB

4. Goa Shipyard Limited (GSL) has 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.
     Source: HBL

Appointments

1. Umesh Revankar has been appointed as the chairman of the Finance Industry Development Council (FIDC) for a period of 2 years.
   • FIDC is a Self-Regulatory Organization (SRO) cum Representative Body of Asset and Loan Financing of the Non-Banking Financial Corporation (NBFC) registered with the Reserve Bank of India (RBI).
     Source: BS
2. Geetika Srivastava has been appointed as 1st woman Charge d’Affaires in the Indian high commission in Islamabad, Pakistan.
   • She is the first woman diplomat to hold this post in the Indian high commission in Islamabad.
   • Both the Indian and Pakistani missions in Islamabad and New Delhi are not been headed by high commissioners since August 2019, when Islamabad downgraded diplomatic relations following the scrapping of Jammu and Kashmir’s special status by the Indian government.
     Source: LM

Miscellaneous

1. Jayanta Mahapatra, an Eminent Indian English poet and Litterateur, who was the first recipient of Sahitya Akademi award for English poetry (1981) has passed away.
   • He received the Sahitya Akademi Awards in 1981 for Relationship (poetry), the first Akademi Award for English poetry.
   • Government of India honoured him with Padma Shri in 2009for Literature and Education.
   • He won the prestigious SAARC (South Asian Association Regional Cooperation) literary Award for the year 2009.
     Source: TH

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