Current Affairs 19 October 2023

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NATIONAL AFFAIRS

Union MNRE Minister RK Singh launches Dashboard for Data on Adoption and Forecasts of EVsOn October 16, 2023, Union Minister Raj Kumar (RK) Singh for Ministry of New and Renewable Energy (MNRE), and Ministry of Power launched a new Electric Vehicle (EV)-Ready India Dashboard (evreadyindia.org) from New Delhi, Delhi.

• It is a free digital platform that focus on near real-time EV adoption and forecasts, associated battery demand, charging density, and market growth trends by using data and AI (Artificial Intelligence).

It has been developed by policy and industry experts at thinktank OMI Foundation based in New Delhi, Delhi.
About Ministry of Power
Union Minister – Raj Kumar Singh (Constituency – Arrah, Bihar)
Minister of State– Krishan Pal (Constituency- Faridabad, Haryana)
>> Read Full News

Mercer CFA Institute Global Pension Index 2023: India ranked 45th out of 47; Netherland topsAccording to the 15th annual Mercer CFA Institute Global Pension Index (MCGPI 2023), India is ranked 45th out of 47countries. The overall index value of India increased from 44.5 in 2022 to 45.9 in 2023. India was ranked 41st out of 44 in 2022.

• The 2023 Index is topped by the Netherlands with overall index value of 85.0, followed by Iceland (83.5) and Denmark (81.3).
• With the lowest index value of 42.3, Argentina is ranked 47th in MCGPI 2023.
• The MCGPI 2023 compares 47 retirement income systems across the globe and covers 64% of the world’s population.
• India’s sub-indices values were adequacy (41.9), sustainability (43.0), and integrity (56.5).

About Mercer:
Chief Executive Officer(CEO)– Martine Ferland
Headquarters– New York, United States
Established – 1945
>> Read Full News

MoD Signs Contract with Cochin Shipyard for the Upgradation of INS BeasThe Ministry of Defence (MoD) has signed a contract with Cochin Shipyard Limited (CSL)(Kochi, Kerala) for mid-life upgrade and re-powering of the advanced guided missile frigate Indian Naval Ship (INS) Beas (F37) at a cost of Rs 313.42 crore.
i. About the Contract: INS Beas is the first Brahmaputra Class Frigate to be re-powered from steam to diesel propulsion.

• After completing mid-life upgrade and re-powering in 2026, INS Beas will join the Indian Navy’s active fleet with a modernised weapon suite and enhanced combat capability.

ii.About INS Beas: INS Beas was the third Ship of the Brahmaputra Class guided missile frigate which was commissioned into the Indian Navy in 2005, and it was originally built by Garden Reach Shipbuilders and Engineers (GRSE)Ltd in Kolkata(West Bengal).

• It can reach speeds of more than 30 knots and go more than 4,500 nautical miles without refuelling.

MoD Signs with MDL to construct the first ICG Training Ship
The Ministry of Defence(MoD) has signed a contract for the construction of one Training Ship for the Indian Coast Guard (ICG) with Mazagon Dock Shipbuilders Ltd (MDL), Mumbai(Maharashtra) at a cost of Rs 310 crore under the Buy Indian -Indigenously Designed Developed and Manufactured (IDDM) category in New Delhi, Delhi.
Facilities: This is the first ICG’s dedicated training platform with integral helicopter capabilities and modern high-tech surveillance and monitoring systems.
Benefits: The training ship is set to provide basic sea training to 70 Coast Guard and other international under-trainee officers and prepare them for the multi-dimensional maritime aspects of Coast Guard life.

• It will provide insight and expertise to the ICG cadets on the challenges they may face at sea while ensuring the security of coastline and offshore assets.

Note:
“Buy-IDDM” has been introduced in Defence Procurement Procedure (DPP) 2016 to promote the indigenous design and development of defence equipment.
About Cochin Shipyard Limited (CSL):
Chairman & Managing Director(CMD) – Madhu S Nair
Headquarters – Cochin, Kerala
 Incorporated in– 1972
About Mazagon Dock Shipbuilders Ltd (MDL):
Chairman & Managing Director(CMD) – Sanjeev Singhal
Headquarters – Mumbai, Maharashtra
Incorporated as a Private Company in – 1934

INTERNATIONAL AFFAIRS

FAO’s 1st Global Estimation of Impact of Disasters on Agriculture: USD 3.8 Trillion Worth Crops & Livestock Lost Over 30 yearsThe United Nations Food and Agriculture Organization (UN-FAO) released a report titled ‘The Impact of Disasters on Agriculture and Food Security 2023-Avoiding and reducing losses through investment in resilience‘ which is the first–ever global estimation of the impact of disasters on agricultural production focused on crops and livestock.

• As per the report, the Global aggregated losses for the past 30 years (1991-2021) due to disasters events amounts to USD 3.8 trillion, corresponding to about USD 123 billion per year.
• This value is equivalent to 5% of global agricultural Gross Domestic Product (GDP), and nearly 300 million tonnes of accumulated losses per year, or the real GDP of Brazil in year 2022.
• The disaster events include floods, droughts, insect infestations, storms, disease and war.

About United Nations Food and Agriculture Organization (FAO):
Director-General– QU Dongyu
Headquarters– Rome, Italy
Establishment– 1945
>> Read Full News

4th G20 FMCBG Meeting held in Marrakech, Morocco, October 12-13, 2023The fourth and last gathering of G20 Finance Ministers and Central Bank Governors (FMCBG) during India’s presidency occurred in Marrakech, Morocco, from October 12 to 13, 2023.Over 370 attendees, including Finance Ministers and Central Bank Governors from G20 member countries, Invitee Countries, and Heads of International Organizations, participated in the event.

• The current meeting is being followed by previous meetings that took place in Bengaluru(Karnataka), Washington DC(United States of America), and Gandhinagar, Gujarat.
• The FMCBG meeting was preceded by the Fourth G20 Finance and Central Bank Deputies (FCBD) meeting on 11 October 2023 in Marrakesh, Morocco.
• The meeting was organized into 2 sessions covering global economy topics, reinforcing Multilateral Development Banks, and discussions on crypto assets.
• This meeting coincided with the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).

>> Read Full News

3/5 Gorkha Rifles of Indian Army wins Gold in Cambrian Patrol 2023 Military Exercise in UK
The 3/5 Gorkha Rifles (Frontier Force) team clinched a gold medal for the Indian Army (IA) at the Cambrian Patrol Competition 2023, an International Military Exercise organzied in Wales, United Kingdom (UK) from October 6, 2023 to October 15, 2023.

• 67 Punjab Regiment of Pakistan Army received silver medal
• Soldiers from 1st Battalion Irish Guards (British Army ) and the 13th Demi-Brigade of the French Foreign Legion (France)have become the first joint effort between a British Army and international team to complete and win Bronze in the exercise.

Cambrian Patrol 2023 Military Exercise:
Cambrian Patrol 2023 Military Exercise was hosted by Headquarters 160th (Welsh) Brigade on behalf of Commander Field Army of UK Army.

• The Cambrian Patrol Exercise is often dubbed the ‘Olympics of Military Patrolling’ as it is considered the ultimate test of human endurance and team spirit.
• It is a mission focused and scenario-based exercise.

Participants:
The 2023 exercise saw a participation of 111 teams, encompassing 38 international contingents.
Key Points:
i.The exercise was made up of eight phases, each of 48 hrs, over 10 days. Each team was challenged to cover approximately 60 kms (average climb and descent is over 1000m) carrying no more than 32 kgs per person.
ii.In 2021 also IA secured a gold medal in the same competition. It was grabbed by 4/5 Gorkha Rifles (Frontier Force).

BANKING & FINANCE

ADB approved USD 181 Million loan to Improve Services in Peri-Urban Areas of Ahmedabad
Asian Development Bank (ADB) has approved a loan worth USD 181 million to build quality infrastructure and services in the peri-urban areas of Ahmedabad, Gujarat to control urban sprawl.
Scenario in Ahmedabad:
i.Ahmedabad is expanding horizontally to adjoining areas (peri-urban areas) due to rapid industrial growth.
ii.Since peri-urban areas are unplanned smaller urban local bodies (ULBs), it can’t accomodate the high population due to urbanisation.
iii.Ahmedabad Urban Development Authority (AUDA) which is responsible for planning of those areas, identified five growth centers surrounding Ahmedabad city.

• Ahmedabad Peri-urban Livability Improvement Project  was created with an aim to provide basic infrastructure in these growth centres.

Note: Peri-urban areas are the areas surrounding cities and towns. They are characterized by a mix of urban and rural characteristics.
ADB Funding:
i.Ahmedabad Peri-urban Livability Improvement Project is funded by Asian Development Bank(ADB).
ii.ADB will help the AUDA and urban local bodies improve their ability to use technology for urban planning.

• This will include planning for climate change and disasters, as well as infrastructure that protects the environment and promotes social safeguards, gender equality, and social inclusion.

Ahmedabad Peri-urban Livability Improvement Project:
i.The project will provide residents of Ahmedabad’s surrounding areas with quality urban infrastructure and services, by building

• 166 km of water distribution network
• 126 km of climate-resilient stormwater drainage
• 300 km of sewerage systems
• four sewage treatment plants

ii.The project will also improve 10 junctions along the Sardar Patel Ring Road to increase the connectivity of peri-urban areas to Ahmedabad city.
iii.It will also support land development plans and town planning schemes.
iv.The project will build recycling treated sewage for industrial use through a public–private partnership.
v.Women’s self-help groups(SHG) will be trained on how to operate water supply systems.
Additional Info:
i.The project will help government agencies improve their ability to plan their finances, increase their revenue, and manage their infrastructure assets.
ii.All the plans and schemes of the project can also be used by other states to improve their urban planning and development.

Sberbank Becomes First Russian Bank to Register with SEBI  as FPI
Russian State-owned Sberbank has become the first Russian bank to register with the Securities and Exchange Board of India(SEBI) as a foreign portfolio investor (FPI) for a Category I FPI license.

• Foreign portfolio investment (FPI) involves an investor purchasing foreign financial assets to access equities, bonds, derivatives, mutual funds, and guaranteed investment certificates among others.
• Category I FPI license is only given to government or government related foreign investors or regulated entities such as banks, sovereign wealth funds, investments trusts, pension funds, asset management companies.
• With Sberbank’s registration as FPI, the total number of Russia-based FPIs in India increased to five and the other four are non-banks including Alfa Capital Management, First Asset Management, Igor Noskov, and Vesvolod Rozanov.

Note:
Moscow-headquartered Sberbank got approval from the Reserve Bank of India (RBI) in May 2010 to set up a branch in India(New Delhi, Delhi) and commenced its banking business in January 2011.

ECONOMY & BUSINESS

Bharti Group to Acquire AXA’s 49% Stake in Bharti AXA Life Insurance Bharti Group, through its holding company Bharti Life Ventures Private Limited (BLVPL) has entered into a binding agreement with its Joint Venture(JV) partner AXA to acquire its 49% of  stake in Bharti AXA Life Insurance.

• Through this acquisition, BLVPL will own 100% stake  in the Bharti AXA Life Insurance.
• The transaction is expected to be completed by December 2023, subject to regulatory approvals.

Bharti Group into Insurance:
Bharti Group set up the ventures with Paris based ‘AXA’ (a French multinational insurance firm) in 2006 and held 74% stake in both – Bharti AXA General Insurance and Bharti AXA Life Insurance .

• Presently, Bharti AXA Life Insurance has a 51% stake from Bharti Group and 49% stake from AXA, in line with the regulatory framework on ownership in the Insurance sector.

Bharti AXA General Insurance:
i.In 2020, Bharti Group and AXA exited the general insurance business by selling Bharti AXA General Insurance to ICICI Lombard General Insurance Limited.

• Bharti AXA received two shares of ICICI Lombard for every 115 shares of Bharti AXA held by them.

ii.The transaction came into effect on Sept 08, 2021 after receving  necessary approvals from The National Company Law Tribunal (NCLT) and the Insurance Regulatory and Development Authority of India (IRDAI).
About Bharti AXA Life Insurance: 
Managing Director(MD) &  Chief Executive Officer (CEO)– Parag Raja
Headquarters – Mumbai, Maharashtra
Established in – 2006

IOCL to Invest Rs 1,660.15 Crore in IndianOil NTPC Green Energy Pvt Ltd
Indian Oil Corporation Limited (IOCL), a state-owned Maharatna company, is set to invest Rs 1,660.15 crore as equity in IndianOil NTPC Green Energy Pvt Ltd for setting up renewable power plants.

• IndianOil NTPC Green Energy Pvt Ltd is a joint venture (JV) company with a 50:50 share between IOCL and NTPC Green Energy Ltd, (a wholly-owned subsidiary of NTPC Limited) formed in June 2023.
• The new JV was formed to set up renewable energy projects (Solar photovoltaics (PV) wind, any other renewable energy, energy storage, or any combination of the same) with a minimum generation of 650 megawatt (MW), to meet 24X7 power requirements of refineries of the IOCL.
• IOCL aims to generate 3 Gigawatt (GW) renewable energy and 0.6 million tonnes of biofuels by 2025. It also plans to generate 35 GW by 2030, and 200 GW by 2050.

AWARDS & RECOGNITIONS

American Actor Michael Douglas to receive Satyajit Ray Lifetime Achievement Award: 54th IFFI at GoaAmerican actor and producer Michael Douglas will be honoured with the Satyajit Ray Lifetime Achievement Award at the 54th International Film Festival of India(IFFI) to be held in Goa from 20th to 28th November, 2023.

• The announcement was made by Union Minister Anurag Singh Thakur, Ministry of Information and Broadcasting (MIB).

About Michael Douglas:
i.Michael Douglas is best known for his roles in films like ‘Wall Street,’ ‘Fatal Attraction,’ ‘Wonder Boys’ and ‘Behind the Candelabra.’.
ii.He has also produced a several films like “One Flew Over the Cuckoo’s Nest” (1975), “The China Syndrome” (1979), and “The Game” (1999).
Awards:
i.He has received several awards including 2 Academy Awards(Oscars) and a Primetime Emmy Award.

• He won the Academy Award 1988 and a Golden Globe 1988 for his role in Wall Street.
• As the producer of the Movie ‘One Flew over the Cuckoo’s Nest’, he won Academy Award 1975.
• He won The Emmy Award: Outstanding Lead Actor In A Miniseries Or A Movie for ‘Behind the Candelabra’ in 2013.

ii.He also received Golden Globe Cecil B. DeMille Award in the year 2004.
iii.Michael Douglas received the Honorary Palme d’Or at the 76th Festival de Cannes on May 2023
UN  Messenger of Peace
i.In 1998, Michael Douglas was appointed as  United Nations (UN) Messenger of Peace by UN Secretary-General Kofi Annan for his commitment on nuclear abolition and the prevention of small arms proliferation.

• He also play a crucial role in advancing Sustainable Development Goal 16 (SDG 16).

ii.As UN Messenger of Peace, he hosted the  documentary “What’s Going On?” filmed in Sierra Leone (a country in West Africa). It is a part of a UN/Showtime ten-part series.
About the Satyajit Ray Lifetime Achievement Award:
i.The Satyajit Ray Lifetime Achievement Award is presented to individuals for their outstanding contribution to the growth and development of World cinema.
ii.It was instituted in 1999 at the 30th IFFI which was held in Hyderabad (Telangana).
iii.Spanish film Director Carlos Saura was awarded with Satyajit Ray Lifetime Achievement award in 53rd IFFI in 2022.

• Other noted recipients of the award includes Martin Scorsese(IFFI 52), Wong Kar-wai(IFFI 45), Krzysztof Zanussi (IFFI 43), Dilip Kumar(IFFI 38) and Bernardo Bertolucci(IFFI 30).

Note: IFFI is the only film festival in South Asia to be accredited by the International Federation of Film Producers’ Associations (FIAPF) in Competitive Feature Films Category.

APPOINTMENTS & RESIGNATIONS

MEA Spokesperson Arindam Bagchi Appointed Permanent Representative of India to UN in GenevaArindam Bagchi, Additional Secretary [External Publicity(XP)] and Spokesperson of the Ministry of External Affairs (MEA) has been appointed the next Ambassador/Permanent Representative of India to the United Nations (UN) and other international organisations in Geneva, Switzerland.

• Arindam Bagchi is set to take over the post from Indra Mani Pandey, the incumbent Indian envoy to the UN in Geneva. Pandey has been holding the position since September 2020. and is now set to return to New Delhi, Delhi after a three-year term.

About Arindam Bagchi:
i.He is a 1995-batch Indian Foreign Service (IFS) official, who took over as spokesperson of MEA in March 2021.
ii.As MEA spokesperson, He has handled key issues and developmnets like eastern Ladakh border row (2020-2021), India’s COVID-19 response (2019), and New Delhi’s G20 Presidency (2023).
iii.Earlier, he served as Ambassador to Croatia from 2018 to 2020 and Deputy High Commissioner to Sri Lanka.
iv.He was working as MEA’s Joint Secretary (North) at the MEA headquarters in Delhi.
v.He also served at the Prime Minister’s Office(PMO) as a Director as well as at India’s Permanent Mission at the UN in New York, the United States of America(USA).
Permanent Mission of India in Geneva:
The Permanent Mission of India in Geneva has three separate wings

• Permanent Mission of India to the UN and Other International Organizations in Geneva – headed by Arindam Bagchi.
• Permanent Mission of India to the Conference on Disarmament in Geneva – headed by Dr. Anupam Ray.
• Permanent Mission of India to the World Trade Organization(WTO) in Geneva – headed by Brajendra Navnit.

Justice Siddharth Mridul Appointed Chief Justice of Manipur High Court
Delhi High Court judge Siddharth Mridul was appointed Chief Justice (CJ) of Manipur High Court by the union government based on the recommendation of the Supreme Court Collegium in July 2023.

• Justice Siddharth Mridul is set to replace Justice Muralidharan who has been serving as the Acting Chief Justice(ACJ) of the Manipur High Court since February 2023.
• Justice Siddharth Mridul was appointed as the additional Judge of the High Court of Delhi in March 2008 and He has been serving as Delhi HC Judge since May 2009.
• The position of Chief Justice of the Manipur High Court vacant since February 2023 after Justice P.V. Sanjay Kumar was appointed as the Judge of the Supreme Court.

OBITUARY

Nobel winning American Poet Louise Glück Passed AwayLouise Elisabeth Glück, an acclaimed Jewish-American poet & essayist and Nobel laureate (Literature 2020), passed away at the age of 80 in Cambridge, Massachusetts, the United States of America (USA). She was born on 22 April 1943 in New York, USA.
About Louise Glück:
i.She worked as a senior lecturer in the Williams College in Williamstown, Massachusetts (USA).
ii.In 2000, she commenced a three-year term as a poetry consultant to the Library of Congress for its bicentennial celebrations.

• She was named 12th Poet Laureate Consultant in Poetry to the Library of Congress in 2003.

iii.She has also served as the adjunct professor of English and the Rosenkranz Writer in Residence in the Yale University.
iv.She won the 2020 Nobel prize for literature and became the 1st American poet to do so since TS Eliot in 1948. She was also the 16th woman to win the Nobel Prize for Literature.
v.In 2016, she was honored with the National Humanities Medal by then President Barack Obama.
Noted Works & Awards:
i.Firstborn, the 1st collection of poems by Louise Glück was published in 1968.  She won the Academy of American Poets College Prize for this book.

• Her 2nd, 3rd and 4th books were The House on Marshland(1975); The Garden(1976); and Descending Figur(1980).

ii.She won the National Book Critics Circle Awards (Poetry) for ‘The Triumph of Achilles’ in 1985 and won the Bobbitt Prize from the Library of Congress in 1992 for ‘Ararat’ (She shared the prize with Mark Strand, a Canadian-born-American poet).
iii.She won the Pulitzer Prize for Poetry in 1993 for “The Wild Iris”
iv.Her essay collections on poetry included Proofs and Theories (1994) and American Originality (2017).

IMPORTANT DAYS

International Day for the Eradication of Poverty 2023- October 17 The United Nations (UN) International Day for the Eradication of Poverty also known as End Poverty Day is annually observed across the globe on 17 October to raise awareness about the global issue of poverty and how it is a violation of human rights and human dignity.
The 2023 theme of International Day for the Eradication of Poverty is, “Decent Work and Social Protection: Putting Dignity in Practice for All.”
Background:
i.The International Day for the Eradication of Poverty was first observed as World Day for Overcoming Extreme Poverty on 17 October 1987.
ii.On 22nd December1992, the United Nations General Assembly (UNGA) adopted a resolution A/RES/47/196 and declared the 17th of October of every year as International Day for the Eradication of Poverty.
>> Read Full News

World Trauma Day 2023 – October 17World Trauma Day is annually observed across the globe on October 17 to raise awareness about trauma and educate people on ways to address traumatic incidents and deaths.

• The day promotes people to take preventative measures to lessen the number of casualties and injuries.
• 17th October 2023 marks 13th World Trauma Day.

Theme:
The theme of World Trauma Day 2023 is ‘Embracing Resilience, Overcoming Trauma’s Impact’.
Background:
i.World Trauma Day was established in 2011 in New Delhi, Delhi.
ii.The day was established in response to the alarming number of daily deaths (exceeding 400) due to traffic accidents.
What is Trauma?
i.Trauma means “any injury caused to the body”. It is an emotional response to a terrible event like an accident, rape, or natural disaster.
ii.Road traffic injuries are the leading cause of death for children and young adults aged 5-29 years.
iii.1.3 million people die each year as a result of road traffic crashes.

• Annually, around 1.3 million people die due to road traffic crashes.

iv.Approximately 93% of the world’s fatalities on the roads occur in low- and middle-income countries.
v.According to the report of the National Crime Records Bureau (NCRB), around 1.55 lakh people lost their lives due to road accidents in 2021.

• Two wheelers have accounted for maximum fatal road accidents, contributing 44.5% of total road accidental deaths.

Bone and Joint Action Week:
i.World Trauma Day is a part of Bone and Joint Action Week which is annually observed from October 12 to October 20.
ii.There are five special days during Action Week.

• October 12 – World Arthritis Day
• October 16 – World Spine Day
• October 17 – World Trauma Day
• October 19 – World Pediatric Bone and Joint (PB&J) Day
• October 20 – World Osteoporosis Day

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