Current Affairs 20 & 21 August 2023

We are here for you to provide the important Recent and Latest Current Affairs 20 & 21 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

President Droupadi Murmu Has Given Approval to Three More Bills in August 2023The President of India Droupadi Murmu has given her assent to the following bills during the Monsoon Session, 2023 of Parliament:
i.The Indian Institutes of Management (Amendment) Act, 2023
Introduced in Lok Sabha on July 28, 2023, it amends the Indian Institutes of Management (IIM) Act, 2017.The Bill classifies the National Institute of Industrial Engineering (NITIE), Mumbai in Maharashtra as IIM, Mumbai.Hence, NITIE is India’s proposed 21st IIM.
ii.National Dental Commission Act, 2023
Introduced in Lok Sabha on July 24, 2023 it repeals the Dentists Act, 1948. It seeks to regulate the profession of dentistry in India by promoting affordable and high quality oral healthcare availability and boosting the employability of Indian dental professionals globally.
iii.Offshore Areas Mineral (Development and Regulation) Amendment Act, 2023
The Offshore Areas Mineral (Development and Regulation) Amendment Act, 2023 falls under the jurisdiction of Ministry of Mines.It was introduced in Lok sabha on July 27, 2023,and it amends Offshore Areas Mineral (Development and Regulation) Act, 2002 (‘OAMDR Act’), to introduce crucial reforms in India’s offshore mining sector.
>> Read Full News

India’s First 3D-Printed Post Office Building Inaugurated in Bengaluru 
Mr. Ashwini Vaishnaw, the Union Minister for Railways, Communications, Electronics & Information Technology, inaugurated India’s first three-dimensional (3D) Printed Post Office located in Bengaluru’s Cambridge Layout, Karnataka.

• The new post office was created using 3D Concrete Printing Technology by Larsen and Toubro (L&T) Construction.
• The technology had been approved by the Building Materials and Technology Promotion Council (BMTPC) and the structural design of the post office was validated by Indian Institute of Technology Madras(IIT-M) .

Note – BMTPC is a not-for-profit autonomous body registered in 1990 under the aegis of the Ministry of Housing & Urban Poverty Alleviation, Government of India.
What is 3D Concrete Printing?
3D concrete printing, also known as concrete additive manufacturing, is an innovative construction technology that involves using specialized machines to create three-dimensional objects and structures using concrete as the primary material. This process allows for the precise layer-by-layer deposition of concrete, enabling the fabrication of complex and custom shapes.
Other First 3D Printed Houses

• In April 2021, India’s first 3D-printed house was built on IIT-M campus by Tvasta Manufacturing Solutions.
• In December 2022, Indian Army also inaugurated its first two-storey 3D-printed dwelling unit for soldiers at Ahmedabad Cantonment in Gujarat.

INTERNATIONAL AFFAIRS

UNDP Creates National Carbon Registry to Assist Nations in Achieving Climate TargetsUnited Nations Development Programme (UNDP) developed an open-source software called ‘National Carbon Registry’.This software enables countries to effectively manage national data and processes for trading carbon credits.

• The software has recently been accredited as a digital public good (DPG).As a DPG,the registry utilizes open-source programming, allowing countries to reproduce and change the information to their own requirements and contexts.

About National Carbon Registry:
i.The registry follows national and international best practices based on inputs from countries and is a result of ongoing work by the Digital4Climate (D4C) Working Group.

• D4C includes UNDP, the World Bank, the United Nations Framework Convention on Climate Change (UNFCCC) and the European Bank for Reconstruction and Development (EBRD) among others.

ii.It is designed to be an interoperable digital system that can be combined with national measurement, reporting, and verification (MRV) systems as well as international digital systems such as UNDP’s voluntary cooperation platform and the World Bank’s global platform Climate Action Data Trust (CAD Trust).

• As a result of this programme, there will be a greater collection of digital public infrastructure to address climate challenges.

iii.The Norwegian Agency for Development Cooperation (Norad) and the Government of Japan contributed to the development of the National Carbon Registry.
Carbon Credit:
i.A carbon credit is the amount of money linked to the reduction, elimination, or avoidance  of greenhouse gas (GHG) emissions, equivalent to one metric ton of carbon dioxide (CO2) or other greenhouse gases.
ii.Carbon finance will be key for the implementation of the NDCs, and the Paris Agreement enables the use of such market mechanisms through Article 6.
Carbon Markets:
Carbon markets are trading platforms where carbon credits are bought and sold. Carbon markets allow companies and individuals to compensate for their greenhouse gas emissions by buying carbon credits from entities that remove or reduce greenhouse gas emissions.
About United Nations Development Programme (UNDP):
Administrator – Achim Steiner
Head Quarters – New York, United States of America (USA)
Established – 1965, began its operations on 1966

BANKING & FINANCE

ASCI Mandates Finfluencers To Registered With SEBI 
The Advertising Standards Council of India (ASCI) announced that it is mandatory to all finfluencers or finance influencers working in the banking, financial services, and insurance (BFSI) sector offering investment advice to be registered with the Securities and Exchange Board of India (SEBI).

• The new guidelines are to safeguard consumers from the consequences of advice from non-experts.

New Guidelines:
i.Finfluencers  who have certifications from recognized institutions need to openly share their certified expert status and their credentials.
ii.They should display their registration number along with name and qualifications.
iii.For other financial advice, suitable credentials like a licence from the Insurance Regulatory and Development Authority of India (IRDAI), being a chartered accountant (CA) or holding  a company secretaryship are required.
Other Requirements:
i.All the advertisements they post are labeled with a disclosure that clearly indicates they are advertisements.
ii.They should provide clear and appropriate information about their qualifications and registration particulars on all forms of promotional content.These disclosures need to be visibly displayed on visuals in a noticeable and upfront manner.

• Video content – they should be displayed clearly on the screen  or spoken as the initial statement.
• Blogs or text– they should be put at the beginning, so people see them before reading.
• Podcasts or audio posts – mentioned right at the start of the content.

Who are Finfluencers?
Finfluencers are people with public social media platforms offering advice and sharing personal experiences about money and investment in stocks.
Existing Provision:
The SEBI Act, 1993 and the SEBI (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) Regulations, 2003 forbid certain unfair acts.
Additional Info:
The guidelines of ASCI have been updated for influencers who promote products with health and nutrition claims as well.

• Influencers endorsing such products should possess appropriate qualifications like medical degrees or certifications in nursing, nutrition, dietetics, physiotherapy or psychology.

YES BANK Introduces Mobile App ‘iris by YES BANK’ 
Yes Bank Limited(Ltd) launched ‘iris by YES BANK’ , a state-of-the-art mobile banking application which was developed in collaboration with customer feedback.

•  It is the bank’s first Direct to Consumer platform,allowing new and existing customers to access more than 100 features and services.
• The app demonstrates the bank’s commitment to fostering a digitally empowered ecosystem and showcases its dedication to delivering top-notch digital solutions.

Key Features:
The unique collaborative mobile app comprises a sleek and intuitive user interface with features such as
opening a savings account,
ii.applying for a Credit Card,
iii.availing instant personal, business and auto loans,
iv.booking recurring and fixed deposits,
v.Customised investment(in mutual fund) & insurance options.
Security Features: The app incorporates security features like Biometric Authentication, Sim-Binding and 2-factor Verification
About YES Bank Limited(Ltd):
Managing Director(MD) & Chief executive Officers (CEO) – Prashant Kumar
Headquarters – Mumbai, Maharashtra
Established in – 2004
Tagline –Experience Our Expertise

HDFC Group launched Life Insurance & Asset Management Services from Gujarat’s GIFT City
HDFC Group launched new life insurance and asset management services at International Financial Services Centre (IFSC) situated in Gujarat International Finance Tec (GIFT) City, Gujarat.This initiative offer services to Non-Resident Indians (NRIs) and the global Indian diaspora.

• HDFC Life unveils HDFC International Life and Re, and HDFC AMC International (IFSC) Ltd by HDFC Asset Management Company to cater to the financial needs of the worldwide Indian community.

HDFC International Life and Re:
HDFC Life created HDFC International Life and Re to provide specialized insurance solutions.
i.This is offering life and health insurance plans in United States (US) dollars(USD) which aims to make world-class foreign currency denominated insurance solutions available for Non Resident Indians (NRIs) and global Indians.
ii.The first product – US Dollar Global Education Plan– to eliminate any future mismatch between the currency of investment and the currency of expenses.

• The plan is designed to help parents with a US dollar-denominated corpus to meet future expenses for their child’s overseas education.

HDFC AMC International (IFSC) Limited(Ltd):
i.HDFC Asset Management Company(AMC) established HDFC AMC International (IFSC) Ltd to offer fund management and advisory solutions as part of its offshore hub operations.

• Indian investment solutions available to global investors and global investment solutions available to resident investors.

ii.The first product – plan to launch six funds – to contribute to various HDFC Mutual Fund schemes, encompassing strategies related to equity and hybrid investments.
About HDFC Life Insurance Company Limited
Managing Director(MD) & Chief executive Officers (CEO) – Vibha Padalkar
Headquarters – Mumbai, Maharashtra
Established in – 2000
About HDFC Asset Management Company Limited:
HDFC AMC was established in 2000 and firm registered with Securities and Exchange Board of India (SEBI).
Joint Venture Formation: In 2001, a strategic joint venture was established between HDFC Limited and abrdn Investment Management Limited (formerly Standard Life Investments Limited).
Managing Director(MD) and Chief Executive Director – Navneet Munot
Headquarters – Mumbai, Maharashtra

Indian Bank Becomes 1st PSB to Extend Online Locker Agreement Through DDE Platform of NeSL
Indian Bank became the First Public Sector Bank (PSB)  to extend facility of execution of on-line locker agreement through Digital Document Execution (DDE) Platform of National E-Governance Services Limited (NeSL), India’s first Information Utility under Insolvency and Bankruptcy Board of India (IBBI).

• Online locker agreements are available 24/7, improving customer convenience and reduces agreement execution time.

i.DDE is a fully automated contract execution platform with paperless e-stamp and electronic signature (e-Sign) facility. The facility of e-Sign includes Aadhar based (OTP/Biometric) and dongle-based digital signature…Click here for the workflow and benefit of DDE
ii.The platform provides the option for both individual and multiple signatories to execute documents sequentially. This feature enables joint account holders to easily execute locker agreements. Additionally, customers can monitor transaction status and instantly download the Electronic Evidence (65B) certificate.

• The 65B Certificate is prescribed under Section 65B of the Indian Evidence Act,1872. A 65B Certificate is a certificate submitted to a court in India for the purpose of producing Electronic or Digital Evidence in certain cases.

iii.The end-to-end digital process eliminates the need for physical stamp papers and signatures, making it faster and more efficient.
About Indian Bank
MD & CEO – Shanti Lal Jain
Headquarters – Chennai, Tamil Nadu
Established in – 1907
Tagline – Your own bank

APPOINTMENTS & RESIGNATIONS           

RBI Approves P R Seshadri as Next MD & CEO of South Indian Bank
On 17th August 2023, the Reserve Bank of India (RBI) approved the appointment of P R Seshadri as the Managing Director (MD) and Chief Executive Officer (CEO) of South Indian Bank for a period of 3 years with effect from 1st October 2023.

• He is currently mentoring businesses both at an operating level as well as at the board level at various companies.
• He will replace Murali Ramakrishnan, whose tenure as MD & CEO of South Indian Bank is set to end by 30th September 2023. He has been serving in the post since 2020.

About P R Seshadri:
i.He started his banking career with Citibank in early 1992 and served in various capacities including MD of CitiFinancial Consumer Finance India Ltd (CCFIL) and Citi Financial Retail Services India Ltd till 2005.
ii.In 2005, he served as the MDr and regional head of Citibank’s retail banking and lending businesses for the Asia Pacific region in Singapore.
iii.He also held the post of CEO of BFC Bank Limited, London, the United Kingdom (UK).
iv.From 2017 to 2020, he served as MD and CEO of Karur Vysya Bank (KVB).
About South Indian Bank:
MD & CEO– Murali Ramakrishnan
Headquarters– Thrissur, Kerala
Established on– 25 January 1929
Tagline– Experience Next Generation Banking       

SCIENCE & TECHNOLOGY

 India’s 1st Long-Range Side Swing Revolver ‘Prabal’ LaunchedOn 18th August 2023, India’s first long-range side swing revolver ‘Prabal’ with “twice the range of other revolvers”, manufactured by Advanced Weapons and Equipment India Ltd. (AW&EIL), was launched at the Small Arms Factory (SFA) in Kanpur, Uttar Pradesh for civilians and arms dealers.

• AW&EIL, a Kanpur (Uttar Pradesh) based fully government-owned enterprise ultimate weapon system provider

Features:
i.Prabal revolver is a lightweight .32 caliber ‘side swing’ revolve.

• Weight: 675 grams (without cartridges).
• Accuracy: Can hit targets up to 50 meters, double the range of other civilian handguns.
• Features: Chrome-platted barrel of 76 millimeters length.
• Dimensions: Overall length of 187.7 millimeters.

ii.The Prabal revolver uses an innovative side-swing mechanism for loading/unloading bullets, replacing the traditional tilting or frame-breaking methods. This side-swing cylinder opening is also lighter by 25 to 50 grams compared to other revolvers.

• This innovative design element eliminates the need to fold the firearm for cartridge insertion, simplifying the reloading process and enhancing user convenience.

iv.Prabal was tested in temperatures ranging from -30 degrees to 55 degrees and has been launched in the market after 600 rounds of testing.
About Advanced Weapons and Equipment India Ltd. (AW&EIL):
It is a Defence Public Sector Undertaking (DPSU) under the Ministry of Defence, Government of India. It is incorporated under the Companies Act 2013 on 14th August 2021.
Chairman and Managing Director– Rajesh Choudhary
Headquarters– Ordnance Factory Kanpur, Kanpur, Uttar Pradesh
Commenced business on– 1st October 2021

Second MCA Barge Yard 76 (LSAM 8) Launched at Andhra Pradesh

Commodore G Ravi, Warship Production Superintendent in Visakhapatnam, Andhra Pradesh, inaugurated the second Missile Cum Ammunition (MCA) Barge, known as Yard 76 (LSAM 8).

• The launch took place at Guttenedevi, East Godavari, Andhra Pradesh, at the manufacturing site of M/s SECON Engineering Projects Pvt Ltd, a Micro-Small-Medium enterprise (MSME) specializing in manufacturing.
• The contract for constructing 8 MCA Barges was signed with M/s SECON Engineering Projects Pvt Ltd, aligned with the “Aatmanirbhar Bharat” (Self-reliant India) initiatives of the Government of India.

Note: The first MCA Barge, Yard 75 (LSAM 7) was launched by Rear Admiral Sandeep Mehta, Assistant Controller of Warship Production & Acquisition (ACWP&A) on 24th February 2023 at Guttenedevi, Andhra Pradesh.
Key Points:
i.This Barge is the proud flag bearer of the ‘Make in India’ initiative of the Ministry of Defence, GoI, with all major and auxiliary equipment/systems sourced from indigenous manufacturers.
ii.The Barge is designed with a service life of 30 years. The availability of these MCA Barges addresses the evolving operational needs of the Indian Navy (IN).
iii.Its impact on facilitating transportation, embarkation, and disembarkation of essential articles and ammunition to IN Ships both at jetties and outer harbours.

ENVIRONMENT

Delhi LG Launches Blockchain Technology for Integration into DFSL E-Forensic App
Vinai Kumar Saxena,Delhi Lieutenant Governor(LG) launched Blockchain Technology in the Inter-Operable Criminal Justice System (ICJS) for electronic-forensic application(e-forensic app) of the Delhi Forensic Science Laboratory (DFSL) and Delhi Police at Raj Niwas, official residence of the LG in Delhi.

• With this, Delhi FSL will be the first institution of its kind in India to utilize blockchain technology “for transparent and tamper-proof (protected against unauthorized changes) digital evidence recording.”
• Access will be restricted to authorized individuals in four analysis stages, maintaining data integrity, ensuring transparency, accountability, and enhanced security by preventing any tampering.
• Integrating Blockchain Technology into DFSL’s e-forensic app guarantees that all physical evidence submitted from the crime scene to the DFSL will remain free of human interaction and tampering.
• Additionally, this integration will automate the complete forensic workflow, commencing from the police to the FSL.The data entered by the Investigating Officer at the police station level will be transmitted to the FSL disclosing the details such as FIR, name of parties, etc.
• This technology has the potential to store various documents like land records, birth and death certificates, caste and income certificates in individual digital lockers. It offers limitless capacity and no time constraints on storage duration.

OBITUARY

Australian Olympic Swimming Gold Medallist John Devitt Passed AwayAustralian Olympic Swimming Gold Medallist John Thomas Devitt(Aged 86) passed away in Sydney,Australia.He was born in Granville, Australia on February 4, 1937
Medals:
i.John Thomas Devitt totally won two gold, a silver, and a bronze medals in Olympic competition.
ii.He won the gold medal in 1956 Melbourne Olympics in the 100-meter freestyle and a silver medal in the 100 freestyle swimming event.
iii.In The 1960 Rome Olympics,  he won the gold medal in the 4-x-200 freestyle relay team event and a bronze medal in the 4-x-200 relay team event.

• He was the captain of the Australian swimming team in both the Olympics.

iv.Devitt also won three gold medals at the 1958 Cardiff British Empire and Commonwealth Games in Wales.
Key  Points:
i.He has served as an executive on the Australian Olympic Committee and helped Sydney win the bid for the 2000 Olympics.
ii.Devitt was also the Australian chef de mission for the 2006 Commonwealth Games in Melbourne.
Awards:
i.Devitt was inducted into the Sport Australia Hall of Fame in 1986 and Appointed as a Member of Order of Australia (AM).
ii.He was also bestowed with the Olympic Order by the International Olympic Committee(IOC).
iii.He was awarded Federation Internationale de Natation(FINA’s) highest award – the FINA (World Aquatics) Prize in 1994.

BOOKS & AUTHORS

Union Ministers Dharmendra Pradhan and Nirmala Sitharaman Launched Kuwi and Desia books in Odisha

Union Ministers Dharmendra Pradhan, Ministry of Education(MoE) and Ministry of Skill Development and Entrepreneurship(MSDE), and Nirmala Sitharaman, Ministry of Finance and Ministry of Corporate Affairs(MCA) launched 2 books namely “Kuwi Primer” and “Desia Primer” in Kuwi and Desia languages at an event held in Bhubaneswar, Odisha, to simplify primary education for tribal children in Odisha.

• The event also witnessed the special postal cover release on behalf of the Department of Posts, Ministry of Communications, Government of India (GoI).
• The event marks a collaborative effort with the Central University of Odisha, Koraput, the Department of Posts, and the National Council of Educational Research and Training (NCERT).

Key Highlights:
i.With more than 62 tribes constituting 23% of Odisha’s population, supporting local culture in education is essential.
ii.In this regard, NCERT, for the first time, in collaboration with the Central University of Odisha, has prepared the 2 books for those children, who are speaking Kuwi and Desia tribal languages in the undivided Koraput district of Odisha.
iii.The step to introduce primers in local languages and dialects is a generational one and will also further enrich the GoI’s vision of ‘Ek Bharat Shrestha Bharat‘ (EBSB).
iv.The National Education Policy (NEP) 2020, a progressive and flexible policy is a result of collective efforts, and extensive consultations, which empowers states to adapt and evolve according to their distinct educational requirements.
Events on Meri Maati Mera Desh:
The Ministers also attended a series of events under the nationwide “Meri Maati Mera Desh” campaign, a tribute to the heroes who have made supreme sacrifices for the country.
i.The Union Ministers visited Sand Art on “Meri Maati Mera Desh” by Padmashri Awardee  Sudarshan Patnaik, a Sand Artist at Puri Beach in Odisha.
ii.Under the ‘Dedication of Shilaphalakam’ (memorial plaques) and ‘Vasudha Vandan’ initiative of Meri Maati Mera Desh.

• Vasudha Vandan is to develop the ‘Amrit Vatika‘ by planting 75 saplings of indigenous species.

iii.They also collected soil and rice in ‘Amrit Kalash’ from house to house in Biraharekrushnapur village of Puri district and visited the birthplace of noted Freedom Fighter Saheed Jayee Rajguru to create an Amrit Vatika in Delhi.

IMPORTANT DAYS

World Humanitarian Day 2023 – August 19
The United Nations (UN)’s World Humanitarian Day (WHD) is observed annually on 19th August across the globe to pay tribute to humanitarian people around the world, who have committed their lives in order to support or help others, particularly in times of crisis and conflict.

• The day is also dedicated to recognise humanitarian people and those who lost their lives working for humanitarian causes.

WHD is a campaign by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA).
Background:
i.On 11th December 2008, the United Nations General Assembly adopted a resolution A/RES/63/139 and proclaimed 19th August of every year as World Humanitarian Day (WHD).
ii.The first World Humanitarian Day was observed on 19th August 2009.
About United Nations Office for the Coordination of Humanitarian Affairs (OCHA):
Under-Secretary-General– Martin Griffiths
Assistant Secretary-General– Joyce Cleopa Msuya Mpanju
Headquarters– Geneva, Switzerland, and New York, the United States of America
Founded on– 19 December 1991
>> Read Full News

World Photography Day 2023 – August 19
World Photography Day is annually observed on 19th August across the globe to celebrate the art, craft, science, and history of photography. The day also promotes communication between people from different cultures and countries, helping to enrich a sense of global community.

• World Photography Day commemorates the announcement of the Daguerreotype process of photography by the French government as a ‘free gift to the world’.

The 2023 Theme of World Photography Day is “Landscapes“.
This day also represents the significant contribution of skilled photographers and encourages and inspires the next generation of photographers.
>> Read Full News

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