Current Affairs 11 August 2023

We are here for you to provide the important Recent and Latest Current Affairs 11 August 2023, which have unique updates of Latest Current Affairs 2023 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

CBI Academy Joins Interpol Global Academy Network as its 10th Member On 8th August 2023, the Central Bureau of Investigation (CBI) Academy, based in Ghaziabad, Uttar Pradesh joined the International Criminal Police Organization (INTERPOL) Global Academy Network as its 10th member through a virtual signing ceremony organized between CBI and Interpol at Global Complex for Innovation, Singapore for development and delivery of joint training program and research projects.

• A letter of acceptance was signed by Deputy Inspector General(DIG) (Training) Mohit Gupta of the CBI Academy with Glenn Martindale, Director, Capacity Building and Training Directorate, Interpol in consultation with India’s Union Home Ministry, External Affairs Ministry and the Department of Personnel and Training.

INTERPOL Global Academy Network:
i.Established in 2019, the INTERPOL Global Academy Network is under the leadership of INTERPOL’s Capacity Building and Training Directorate. Its primary goal is to spearhead a worldwide strategy for law enforcement training.
ii.The Network has members in all regions and supports academic collaboration amongst Law Enforcement Training Institutions across the globe.
iii.The INTERPOL Global Academy currently has 10 members: Abu Dhabi, Argentina, Austria, Botswana, Colombia, India, Korea, Rwanda, Saudi Arabia and Spain.
Central Bureau of Investigation (CBI):
i.The CBI is a premier training institution in the fields of crime investigation, prosecution and vigilance functioning.
ii.It is the National Central Bureau of Interpol for India as well as a Nodal Agency for Transnational Organised Crimes, Anti-Corruption Crimes, Bank Fraud Cases and Cyber Crimes.
Director – Praveen Sood
Established in – 1963
Headquarters – New Delhi,Delhi

MeitY Launched IWBDC to Create Indigenous Web Browser with Advanced FeaturesOn August 9, 2023, the Ministry of Electronics & Information Technology (MeitY) launched the Indian Web Browser Development Challenge (IWBDC), Open Challenge Competition for Indian technology enthusiasts to create an indigenous web browser with advanced security features.

• It was jointly launched by Sunita Verma, Scientist G & Group Coordinator (Research & Development- R&D in Electronics & Information Technology); Arvind Kumar, Controller of Certifying Authorities (CCA), MeitY; and Dr. S. D. Sudarshan, Executive Director C-DAC (Centre for Development of Advanced Computing), Bengaluru, Karnataka during a Launch Programme organized at India Habitat Centre, New Delhi, Delhi.
• The dignitaries also unveiled the Challenge brochure during the event.
• This Challenge is spearheaded by MeitY, CCA and C-DAC Bengaluru.

About IWBDC:
Aim:
To motivate and empower technology enthusiasts, innovators, and developers from India to create web browser with an inbuilt CCA India root certificate, advanced features and strong security & data privacy measures.
Rounds:
The competition comprises three rounds: an ideation round selecting 18 entries, a second round narrowing down to 8 participants, and a final round to determine the winner, first runner-up, and second runner-up. Throughout the challenge, participants will receive technical mentorship.
Prize money:

• The total prize money of the challenge is Rs. 3.41 crore.
• The winner will receive a prize of Rs. 1 crore and ongoing support to further develop the browser.

Key Points:
The browser’s key focus will be on accessibility and user-friendliness, including support for individuals with different abilities. It will also offer the capability to digitally sign documents using a crypto token, enhancing secure transactions and digital interactions.
Participants:
The program was participated by more than 200 participants from government departments, industry, start-up and academia through on-line and off-line mode.

NABARD supports Rajasthan to Get 5 GI Tag certification for Traditional ProductsThe National Bank For Agriculture And Rural Development(NABARD) supported Rajasthan to get a Geographical Indications (GI) tag for five traditional products including Nathdwara Pichhwai Craft of Rajsamand, Udaipur Koftgari Metal Craft, Bikaner Kashidakari Craft, Jodhpur Bandhej Craft and Bikaner Usta Kala Craft.
Advantages of getting GI Tags:
i.GI tags are crucial in rural off-farm development because they act as product differentiators, boost brand building, provide local employment, create a regional brand, generate spin-off benefits in tourism and cuisine, and help to conserve biodiversity.
ii.It also improves market access, raises knowledge, and strengthens producers’ ability to assert their rights.
iii.It is supported to empower local communities by enhancing their income levels and preserving the intactness of disappearing artworks.
Nathdwara Pichhwai Craft:
i.The Nathdwara Pichhwai Craft has a 400-year history and depicts the glorious life of  Lord Shrinathji(Lord Krishna).

• These paintings were used to decorate the walls of temples in Nathdwara, Rajasmand district, Rajasthan.

ii.The word Pichhwai comes from the Sanskrit words, ‘pich’ meaning back and ‘wais’ meaning hanging.
iii.The colours used in Pichhwai painting are natural colours including vibrant blue, green, brilliant red, and Oranges.

• The most beautiful ones are mainly filled with pure gold.

iv.Themes commonly used in Nathdwara Pichhwai Crafts are based on Ramayana, Krishna Lila, Choura Panchasika, Ragamala series and Gita Govinda.

• Nathdwara Pichhwai Craft is a Handi Crafts goods.

Note:
The other four GI products Udaipur Koftgari Metal Craft, Bikaner Kashidakari Craft, Jodhpur Bandhej Craft, and Bikaner Usta Kala Craft explained in Rajasthan GI Tags
Renewal:
A registered GI shall be valid for 10 years and can be renewed on payment of renewal fee.
Additional info:
i.In Rajasthan, NABARD also promotes the farm and off-farm sectors through skill development programmes, GI, promotion of farm and off-farm producer organisations, farmer exposure tours, and improvement of watersheds and wadis for tribal people.
ii.NABARD spent Rs.31.04 crore on different developmental activities in Rajasthan during the financial year 2022-23.

BANKING & FINANCE

IBA forms Sectoral Committee for 26 Banks in GIFT CityThe Indian Banks’ Association (IBA) constituted a sectoral committee to frame the unique regulatory landscape and address challenges faced by 26 member banks operating within the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat.

• The committee is intended to function as a bridge connecting the banking sector and regulatory bodies, ensuring effective communication and resolution of concerns and perspectives.

Why the committee?
i.Due to the differential  regulatory guidelines between banks operating within GIFT City and those outside, there is a need for a dedicated committee to focus on resolving the challenges encountered by International Financial Services Centre (IFSC) Banking Units (IBUs) .
ii.The committee will represent the collective interests of the banks operating within GIFT City.
iii. In the past, banks used to independently raise the issues they were experiencing with the International Financial Services Centre Authority (IFSCA).
About  Indian Banks’ Association (IBA):
Chief Executive – Sunil Mehta
Headquarters – Mumbai, Maharashtra
Established in – 1946
About Gujarat International Finance Tec-city co. ltd. (GIFT-City)
Managing Director & Group Chief Executive Officer(CEO) – Tapan Ray
Headquarters –  Gandhinagar, Gujarat

Axis Bank to raise stake in Max Life to 16.22% via Rs 1,612 crore Investment On August 9, 2023, Axis Bank Limited announce to raise its stake in Max Life Insurance Company Limited to 16.22% from 9.99% by infusing Rs 1,612 crore (USD 194.6 million) through a preferential allotment of shares.

• The proposal for the same was approved by the acquisitions, divestment and merger committee of Bank’s board.
• This capital infusion will help Max Life to support its growth ambitions, augment capital position and improve solvency margins.

Background:
Axis Bank, along with its entities (Axis Securities and Axis Capital), had acquired a 12.99% stake in Max Life in 2021, and through this new investment they will own 19.02% in the Max Life.
Key points:
i.The increase in the stake by the bank will be done through a share subscription agreement with Max Life through subscription to the preferential issue of 14,25,79,161 fully paid-up equity shares of face value of Rs 10 each at a fair market value of Rs 113.06 per share.
ii.Currently, Max Financial holds an 87% in Max Life. On completion of the proposed capital infusion, Max Financials’ shareholding will reduced to 80.98%.
iii.After the investment, Five nominee directors of Axis entities and three nominee directors of Max Financial will be there on the board of Max Life.
About Axis Bank:
MD & CEO– Amitabh Chaudhry
Headquarters– Mumbai, Maharashtra
Establishment– 1993
Tagline– Badhti Ka Naam Zindagi

Kotak Life partners with ESAF Bank to offer Life Insurance to customers
On 9th August 2023, Kotak Mahindra Life Insurance Company Ltd (Kotak Life) announced its corporate agency tie-up with ESAF Small Finance Bank (ESAF Bank) to offer life insurance to ESAF Bank customers.

• The tie-up plans to benefit 68 lakh customers of ESAF Bank through life insurance products provided by Kotak Life, including protection, savings, investment and retirement through ESAF Bank’s 700 banking outlets spread across 21 States and 2 Union Territories(UTs).

ECONOMY & BUSINESS

L&T, partners to invest $4B in Green Hydrogen Projects ; To Acquire NPCIL stake in Arm i.Larsen & Toubro (L&T) and its green hydrogen joint venture (JV) partners viz. Indian Oil Corporation Limited (IOCL) and ReNew Power, will invest upto USD 4 billion (Rs 32,000 crore) in their green hydrogen businesses over next three to five years.
ii.The focus of this collaboration is to harness the potential of green hydrogen, a clean and sustainable alternative to traditional fossil fuels.
iii.L&T is also looking to procure 26% stake that Nuclear Power Corporation of India (NPCIL) currently holds in L&T Special Steel and Heavy Forging.  In pursuit of this acquisition, L&T is prepared to invest approximately Rs 150 crore.
About Larsen & Toubro (L&T):
Chief Executive Officer & Managing Director– Sekharipuram Narayanan Subrahmanyan
Headquarter– Mumbai, Maharashtra
>> Read Full News 

SCIENCE & TECHNOLOGY

GRSE launched Neerakshi, India’s first Indigenous AUV to Detect Mines On 28th July 2023, Garden Reach Shipbuilders and Engineers (GRSE) Ltd,  Public Sector Undertaking (PSU) under the Ministry of Defence(MoD) launched “Neerakshi”(Eyes in the Water), India’s first of its kind indigenous Autonomous Underwater Vehicle (AUV) to detect mines in Kolkata, West Bengal(WB).

• It is developed through a collaboration between Kolkata-based warship maker GRSE Ltd and Micro, Small & Medium Enterprises (MSME) entity Aerospace Engineering Private Ltd (AEPL).
• AUV Neerakshi was unveiled by Samir V Kamat Secretary Department of Defence Research and Development (DDR&D) and Chairman of  Defence Research and Development Organisation (DRDO).

About AUV Neerakshi:
i.The orange-colored prototype of the cylindrical unmanned vehicle is 2.1 meter long, about a foot (0.30 meter) in diameter and weighs around 45 kilograms.
ii.It has a endurance of 4 hours and can go up to 300 meters deep.
iii.It can be deployed across the coastal waters for ensuring safety of the coast.
iv.Currently, Neerakshi is equipped with mine detection capabilities, though the objective is to also facilitate mine disposals in the future.
v.Neerakshi can perform various tasks, including mine detection, mine disposal, and underwater surveying.
Note:
The commercial launch is likely to be within 6 months to a year after trials by the Indian Navy, Coast Guard, and Army.

TLMAL delivers 200th C-130J Super Hercules EmpennageTata Lockheed Martin Aerostructures Limited (TLMAL), a joint venture between Tata Advanced Systems Limited (TASL) and Lockheed Martin Aeronautics,  delivered its 200th Empennage (the tail structure located at the rear of an aircraft for stabilisation) of C-130J (world’s workhorse) Super Hercules under Make in India initiative .

• TLMAL is the sole worldwide provider of C-130J empennage assemblies, which are integrated into all new Super Hercules aircraft manufactured in Marietta, Georgia, United States of America (USA).

About Empennage:
i.Every empennage manufactured by TLMAL significantly contributes to enabling the powerful Super Hercules to embark on missions of paramount importance, influencing lives and creating historical significance.
ii.Constructing and assembling an empennage involves numerous intricate components.
iii.The empennages made by TLMAL are included in C-130Js operated by seven countries, including India.
iv.The empennages of C-130J Super Hercules were delivered from TLMAL’s manufacturing facility located in Hyderabad, India.
Empennage Components:

• Aircraft’s horizontal and vertical stabilisers.
• Leading edges and tip assemblies.

About C-130J Super Hercules:
i.The C-130J-30 is a stretch version of the C-130J, a proven, highly reliable and affordable airlifter.
ii.It is the airlifter of choice for 22 nations and 26 operators around the world.
iii.The C-130Js support critical worldwide search and rescue, peacekeeping, combat delivery, maritime patrol, special operations, aerial refuelling, commercial cargo transport, medevac and humanitarian response missions.
Additional info:
i.In March 2023, Lockheed Martin and Tata Group signed a Memorandum of Understanding(MoU) to begin the implementation of fighter wing production.
ii.TLMAL empennages are also included in the LM-100J ─ the commercial variant of the Super Hercules.
About Tata Lockheed Martin Aerostructures Limited (TLMAL):
Headquarters – Hyderabad, Telangana
Established in – 2010
About Lockheed Martin Aeronautics:
Chairman, President & Chief Executive Officers(CEO) – James D. Taiclet
Headquarters – Maryland, United States of America(USA)
Established in – 1912
About Tata Advanced Systems Limited (TASL)
Managing Director(MD) & Chief Executive Officers(CEO) – Sukaran Singh
Headquarters – Hyderabad, Telangana
Established in – 2007

Indian Army secures patent for AI-driven Accident Prevention SystemThe Indian Army (IA) has secured a patent for an ‘Accident Prevention System based on Artificial Intelligence (AI)’ which is poised to enhance road safety and mitigate accidents.

• It is developed within the Army’s research and development (R&D) division, and Colonel Kuldeep Yadav has been credited as the inventor of this prevention system.
• This system saves lives by alerting drivers from falling asleep & reduces accidents caused by drowsiness.

Key Points:
i.The patent will remain valid for a duration of 20 years from 2nd February 2021(date of filing), in accordance with the provisions of Patents Act 1970.

• The patent was officially granted on July 11.

ii.Before securing the patent, the AI-based accident prevention device was subjected to rigorous testing in the buses of two state transport corporations – Andhra Pradesh(AP) and Telangana.
iii.The device proved suitable for use in trucks as well, signifying its potential to contribute significantly to road safety beyond military applications.

ENVIRONMENT

108th Foundation Day of ZSI: 3- days Programme held with Special Focus on ‘Mission Life’Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEFCC) inaugurated a 3-day celebration programme of the 108th Zoological Survey of India (ZSI) Day with Special Focus on ‘Mission LiFE‘ (Lifestyle for Environment) at Nicco Park in Kolkata, West Bengal.

• Inauguration of Animal Taxonomy Summit (ATS) 2023, its a first of its kind in our country, was organised by ZSI as part of the programme , where 400 delegates across India and abroad including the Natural History Museum, London, the United Kingdom (UK) participated.

The Zoological Survey of India (ZSI) on commemorating its 108th Foundation Day, released a publication titled ‘75 Endemic Birds of India‘ during the 3 days programme held in Kolkata, West Bengal . As per the publication, 78 (about 5%) of birds found in India are Endemic and are not reported in other parts of the world.
About Zoological Survey of India (ZSI):
Director– Dhriti Banerjee
Headquarters– Kolkata, West Bengal
It was established on 1st July 1916 to promote survey, exploration and research leading to the advancement in our knowledge of various aspects of an exceptionally rich life of the erstwhile ´British Indian Empire´.
>> Read Full News 

OBITUARY

P Jayarama Bhat Former MD&CEO of Karnataka Bank Passes AwayOn 09th August 2023, Polali Jayarama Bhat, the former Managing Director(MD) & Chief Executive Officers(CEO) of Karnataka Bank passed away. He was born on 14th November 1951, in Polali, a small town near Mangalore, Karnataka.

• He served the Bank for over 48 years from April 1973 to November 2021.

Timeline:
i.Jayarama Bhat joined the services of Karnataka Bank as a Probationary Officer in January 1973.
ii.On July 14, 2009 he was appointed as the Managing Director (MD) and Chief Executive Officer (CEO) of Karnataka Bank.
iii.In April 2017, Jayarama Bhat chose to step down from his role as MD and CEO.

• Subsequently, he was appointed by the Reserve Bank of India (RBI) as the Part- time Non-executive Chairman of Karnataka Bank in the same month. He held this position until his retirement on November 13, 2021.

Awards and Recognition:

• Outstanding Manager Award from Mangalore Management Association.
• CEO with HR(Human Resource) Orientation by Asia Pacific Human Resource Management (HRM) Congress.
• A. Shama Rao Memorial Outstanding Achievement Award by A. Shama Rao Foundation.
• New Year Award-2015 jointly by Manipal University, Academy of General Education, and Syndicate Bank.
• T. A. Pai Memorial Shrestha Banker Award from Delhi Kannadiga.

Roles and Appointments:
i.He served on the board of Universal Sompo General Insurance Company Ltd, a joint venture involving Karnataka Bank, where he held the position of Nominee Director.
ii.From August 2010 to August 2014, he served as a member of the Management Committee of the Indian Banks’ Association (IBA).

• During this timeframe, he concurrently held the position of Chairman for the “IBA Committee on Member Private Sector Banks.”

iii.He was also the chairman of the Governing Board of Southern India Banks‟ Staff Training College (SIBSTC), Bengaluru.
Additional Info:
Following his successful completion of the Certified Associate of the Indian Institute of Bankers (CAIIB) examination in 1986, he taught at Government Junior College, Mulki(Mangalore, Karnataka) for three months in 1972.

BOOKS & AUTHORS

Poet-Diplomat Abhay K Launches his New Book ‘Monsoon’ 
On 1st August 2023, Indian-poet-diplomat Abhay Kumar (Abhay K), Deputy Director General of Indian Council of Cultural Relations (ICCR), launched his new book titled “Monsoon: A Poem of Love and Longing”, a book-length poem running across 150 four-line stanzas, at Kathika Culture Centre in Old Delhi, Delhi.

• The book was published by Sahitya Akademi on the occasion of its 68th anniversary (13th March 2022).
• The book is a poem that follows the monsoon which originates from Madagascar and travels to the Srinagar in the Himalayas and back to Madagascar.

Forthcoming works of Abhay K: 
i.His upcoming book titled ‘Celestial’ (Mapin India) is a poem in 100 rhyming couplets, that details the journey to all the 88-star constellations visible from Earth. It is illustrated with the drawings of star constellations of the 10th-century Persian astronomer Al Rahman Al Sufi.
ii.Penguin Random House is set to publish his translation of the first Magahi novel ‘Phool Bahadur’ by Jayanath Pati in January 2024.

IMPORTANT DAYS

World Bio-Fuel Day 2023 – August 10World Bio-Fuel Day is observed annually on 10th August to create awareness about the importance of non-fossil fuels or bio-fuels as an alternative to conventional fossil fuels for the energy sector.

• The day also honours Rudolf Diesel, a French-German Inventor, who invented the Diesel Engine in 1892.
• The day also tries to highlight the various efforts taken by the Government to promote the use of biofuel for the sustainable development of the planet.

Background:
The Ministry of Petroleum and Natural Gas(MoPNG) initiated the observance of World Biofuel Day in India in 2015.
Why August 10?
10th August marks the day on which German inventor and mechanical engineer Sir Rudolf Christian Karl Diesel for the first time successfully ran the Diesel engine with peanut oil in 1893.
>> Read Full News 

World Lion Day 2023 – August 10World Lion Day is annually observed on 10th August across the globe to raise awareness about Lions, the ‘Majestic King of the Jungle‘ and highlight the threats faced by the lion population across the world.

• The day also aims to promote efforts for the conservation and protection of the Lion, the second-largest Big Cat Species in the World.
• The Lions (Panthera Leo) roamed freely across the jungles of Africa, Asia, Europe, and the Middle East some 3 million years ago.

Background:
i.In 2013, Dereck and Beverly Joubert, the co-founders of Big Cat Initiative (BCI) and National Geographic began a partnership to establish World Lion Day.
ii.The first World Lion Day was observed in 2013.
iii.In 2009, the National Geographic Society, in partnership with Dereck and Beverly Joubert, founded the BCI to halt the decline of big cats in the wild.
>> Read Full News 

STATE NEWS

Justice Subhasis Talapatra Sworn in as 33rd Chief Justice of Orissa High CourtOn 8th August 2023, Justice Subhasis Talapatra, Judge of the Orissa High Court, took oath as the 33rd Chief Justice (CJ) of the Orissa High Court. The oath ceremony was administered by Prof. Ganeshi Lal, the Governor of Odisha.

• Justice Subhasis Talapatra succeeded Justice Dr. S Muralidhar following his superannuation on 7th August 2023.
• Justice Subhasis Talapatra is set to retire on October 3, 2023.

Note: In July 2023, the Supreme Court Collegium recommended the name of Justice Talapatra, as the CJ.
About Justice Subhasis Talapatra:
i.Justice Subhasis Talapatra hails from Udaipur, Tripura.
ii.He was designated as Senior Advocate on December 21, 2004. On November 15, 2011, he was sworn in as an Additional Judge of Gauhati High Court in Guwahati, Assam.
iii.On September 13, 2013, was appointed as a Permanent Judge of the Tripura High Court.
iv.He served as the Acting Chief Justice of the High Court of Tripura twice from November 2-13, 2018, and November 11-15, 2019.
v.He was transferred as Judge, High Court of Orissa on June 1, 2022, and he took the oath of office on June 10, 2022.
vi.Since 2017, he held the position of Executive Chairman of Tripura State Legal Services Authority and Chairman of the Juvenile Justice Committee; Computer Committee, and eCourts Project; Committee for Establishment of National Law University.
Orissa High Court launches Warrant Management System and PIL portal
On 7th August 2023, S Muralidhar, Chief Justice of Orissa High Court, on the day of his superannuation, dedicated 2 e- initiatives : Warrant Management System and Public Interest Litigation (PIL) portal, for the benefit of all stakeholders, including the police.
Warrant Management System:
i.It is a portal of the high court collaboratively developed with the State Crime Records Bureau to ensure expeditious transmission and monitoring of warrants.
ii.The portal has the facility of issuing warrants to the police, tracking the status of execution, and acknowledgment of execution. This facility was initially launched in the Cuttack district of Odisha and has been now extended to 7 other districts.
PIL Portal:
i.It serves as a tool for the public to access important PILs, its relevant orders, and reports from the High Court which will benefit both researchers and students.
ii.This platform will also ensure transparency and accessibility in the legal system.

RGICL has been Awarded the Contract for Implementing MHIS & PMJAY in Meghalaya 
On 8th August 2023, Reliance General Insurance Company Ltd (RGICL) signed a contract with the Department of Health and Family Welfare, Government of Meghalaya for the implementation of the Megha Health Insurance Scheme (MHIS) and the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY)-Phase 6 in Meghalaya.

• RGICL emerged as the successful bidder to implement a revised MHIS 6 scheme in convergence with PMJAY, providing an insurance cover of Rs 5.3 lakhs for all eligible beneficiaries on a family floater basis.
• Meghalaya has decided to review the health benefit packages and other terms in insurance contract of MHIS 6. This will cover more than 7 lakh families in Meghalaya and provide them health insurance coverage that will meet secondary and tertiary care hospitalization, outpatient care, diagnostic tests, and follow-up care.
• RGICL will also leverage its digital capabilities for smooth and hassle-free enrolment, claim settlement, and grievance redressal for the beneficiaries.
• The scheme provides coverage to all residents of Meghalaya apart from those who are employed by the GoM and central governments.

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