Current Affairs 27 September 2023

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NATIONAL AFFAIRS

PM Modi Inaugurations on 23 & 24 September 2023Prime Minister Narendra Modi made significant inaugurations during September 23 & 24 2023.
i.Prime Minister Narendra Modi Inaugurated Kashi Sansad Sanskritik Mahotsav 2023 at Rudraksh International Cooperation and Convention Centre in Varanasi, Uttar Pradesh.
ii.Prime Minister flagged Off Nine Vande Bharat Express Trains on September 24, 2023, via Video Conferencing to Enhance Connectivity and Passenger Experience.

• The newly introduced Orange Vande Bharat Express in Kerala, inspired by the saffron color of the national flag, will operate on the Kasaragod-Thiruvananthapuram route via Alappuzha.

iii.Prime Minister Narendra Modi laid the foundation stone of an international cricket stadium in Varanasi.
iv.On September 23, 2023, Prime Minister Narendra Modi inaugurates International Lawyers’ Conference 2023 at Vigyan Bhavan in New Delhi.
>> Read Full News

Veerangana Durgavati Tiger Reserve: MP’s 7th Tiger Reserve unveiled in MP The State Government of Madhya Pradesh (MP) has unveiled its 7th Tiger Reserve namely ‘Veerangana Durgavati Tiger Reserve’ which is spread over an area of 2,339 square kilometres across Sagar, Damoh and Narsinghpur districts of MP. Parts of it falls under the Narmada and Yamuna River basins.

• The unveiling comes after the approval from the National Tiger Conservation Authority (NTCA).
• The declaration of this Tiger Reserve is in accordance with the provisions of clause (ii) of sub-section (iv) of section 38V of the Wildlife (Protection) Act, 1972 (53 of 1972).

Key Points:
i.It will encompass areas within the Nauradehi Wildlife Sanctuary and Veerangana Durgavati Wildlife Sanctuary.
ii.About 1,414 square kilometres in the tiger reserve has been included in the core area and 925.12 square kilometres in the buffer zone.
iii.It comprises two core areas.

• Core Area-1 spans an expansive 1390.036 square kilometers.
• Core Area-2 encompasses 23.97 square kilometers.

iv.A green corridor will be developed to connect Panna Tiger Reserve (PTR)  to Durgavati for tiger movement.
v.Singorgarh Fort lies within the reserve.
vi.Designated areas in Veerangana Durgavati Tiger Reserve are recognized by the Union Ministry of Environment, Forest, and Climate Change (MoEF&CC) to safeguard wildlife conservation.
Features:
Vegetation– Dry deciduous type
Flora– Teak, Saja, Dhaora, Ber, Amla, etc.
Fauna– Tiger, leopard, wolf, jackal, Indian fox, striped hyena, Nilgai, Chinkara, Chital, Sambhar, Black Buck, Barking deer, Common Langur Rhesus Macaque etc.
Notes:
i.As per the report ‘Status of Tigers: Co-predators & Prey in India-2022’, released by the National Tiger Conservation Authority and Wildlife Institute of India in July this year, MP (785) has the highest number of tigers in India, followed by Karnataka (563) and Uttarakhand (560).
ii.Other six Tiger Reserves in MP are Kanha, Bandhavgarh, Satpura, Pench, Panna and Sanjay-Dubri.
About NTCA
The National Tiger Conservation Authority (NTCA) is a statutory body under the Ministry of Environment, Forests and Climate Change constituted under  provisions of the Wildlife (Protection) Act, 1972, as amended in 2006, for strengthening tiger conservation.
About Madhya Pradesh (MP):
Governor– Mangubhai Chhaganbhai Patel
Chief Minister– Shivraj Singh Chouhan
Wildlife Sanctuaries– Panpatha Wildlife Sanctuary, Phen Wildlife Sanctuary

Tata Motors delivers India’s first Hydrogen Fuel Cell Powered Buses to IOCLOn September 25, 2023, Tata Motors delivered first-of-its-kind two Hydrogen Fuel Cell Electric Vehicle (FCEV) buses to Indian Oil Corporation Ltd. (IOCL). These were flagged off by Union Minister Hardeep Singh Puri, Ministry of Petroleum & Natural Gas (MoPNG); Minister of State (MoS) Rameswar Teli, MoPNG; Shrikant Madhav Vaidya, Chairman, IOCL; among others.

• The Indian Oil Corporation Ltd. is a Maharatna Central Public Sector Enterprises.

Key Points:
i.In June 2021, Tata Motors won a tender from IOCL to supply 15 FCEV buses for testing hydrogen-based Proton Exchange Membrane (PEM) fuel-cell technology in India.
ii.These 12-meter buses, designed for easy boarding and seating 35 passengers, were developed at Tata Motors’ R&D (Research & development) center in Pune, Maharashtra.
iii.This bus features 350-bar hydrogen storage system, 70 Kw fuel cell stack, electronic braking system & stability control for higher safety, intelligent transport system, new-generation telematics for efficient, user-friendly vehicle maintenance, etc.
iv.The buses underwent rigorous road testing and validation before delivery.
v.The buses are equipped with four cylinders each with a capacity of 30 kilograms that can run the buses for 350 kilometers.
Note:
Tata Motors launched its 3rd vehicle scrapping facility in Surat, Gujarat, on September 23, 2023. The facility, operated by partner Shree Ambica Auto, has an annual capacity to disassemble 15,000 end-of-life vehicles safely and sustainably, including vehicles of all brands.

• Other two similar facilities are in Jaipur, Rajasthan; and Bhubaneshwar, Odisha.

Indian Navy & IISc Bengaluru Signed MoU for Technical Collaboration &  Joint Research
A Memorandum of Understanding(MoU) was signed between the Indian Navy (IN) and the Indian Institute of Science (IISc), Bengaluru, Karnataka, to promote academic cooperation in the varied field on Engineering, improve scientific understanding of defense-related technologies, and create new technologies.

• The MoU was signed by Rear Admiral K Srinivas, Assistant Chief of Materiel (Dockyard & Refit) on behalf of the IN and Captain Shridhar Warrier (Retd), Registrar IISc and Prof B Gurumoorthy, Director of  Foundation for Science Innovation and Development (FSID) Bengaluru. FSID is promoted by IISc

CO2 Based AC:
IN collaborates with IISc to undertake development indigenously designed & developed future-ready Transcritical carbon dioxide (CO2) based Air Conditioner (AC) plant working on natural refrigerant.

• By inculcating this technology, the use of halon synthetic refrigerants can be reduced and phased out in near future.
• This MoU paves a path to develop such technologies in the near future

INTERNATIONAL AFFAIRS

EFW 2023 Annual Report: List Topped By Singapore & India Ranks 87According to the Economic Freedom of the World(EFW) 2023 Annual Report released by Canadian think tank Fraser Institute, Singapore is the world’s freest economy with a rating of 8.56. India Ranked 87 in the index.

• Hong Kong and Switzerland stand as the second and the third freest economy with the rating of 8.55 and 8.47 respectively.
• Hong Kong retained the top position since the start of the  EFW Index in 1970. For the first time, Hong Kong has slipped from its number one position to second place.
• EFW 2023 Annual Report is based on data from 2021, the most recent year with comparable statistics across 165 jurisdictions.

The bottom five countries are – Yemen(161), Sudan(162), Syria(163), Zimbabwe(164) and Venezuela(165).
India’s Economic Freedom Index Ranking:
In 2023 EFW report, India has slipped one spot and stays at 87th rank with the ratings of 6.62. In EFW 2022 Annual Report, India obtained 6.64 ratings and stood at 86th rank.

• New Delhi(Delhi) based independent Think-Tank ‘Centre for Civil Society’ is one among the Co-publishers of the index.

5 Areas:
The index measures the degree of economic freedom present in five major areas:

• Size of Government
• Legal System and Property Rights
• Sound Money
• Freedom to Trade Internationally
• Regulation

Within these five major areas, there are a total of 45 components and subcomponents in the index.
India’s rating in five areas is as follows: 
Size of Government – 7.64, Legal System and Property Rights – 5.29, Sound Money – 7.99, Freedom to Trade Internationally – 6.19 and Regulation – 5.98.
A comparison:
India ranked high among BRICS countries. Brazil secured 90th rank, Russia secured 104th rank, China stands at 111 whereas South Africa ranks at 94.
Additional Info:
The reason for Hong Kong’s decline in the ranking is 
i.The main reason is introduction of new regulatory barriers to entry, an increase in the cost of doing business, and limitations on employing foreign labour affected the economic freedom score.
ii.The imposition of a national security law in 2020 restricted political and civil freedom connection.

BANKING & FINANCE

RBI Approves Sahebrao Deshmukh Co-op Bank Merger with Cosmos Co-op Bank; Penalizes SBI, Indian Bank, Punjab & Sind Banki.RBI in exercise of its power conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation (BR) Act, 1949 sanctioned the Scheme of amalgamation of The Sahebrao Deshmukh Co-operative Bank Ltd., Mumbai, Maharashtra with The Cosmos Co-operative Bank Limited, Pune, Maharashtra.
ii.RBI imposed a monetary Penalty on the State Bank of India (SBI), Indian Bank, an Punjab & Sind Bank in exercise of it powers conferred under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the BR Act.
iii.RBI also imposed a penalty of Rs 8.80 Lakh on Fedbank Financial Services Limited, a Non-Banking Financial Company (NBFC) in Mumbai, for non-compliance with certain provisions of the Monitoring of Frauds in NBFCs (Reserve Bank) Directions, 2016.
iv.RBI has cancelled the licence of The Kapol Co-operative Bank Limited, Mumbai, Maharashtra amid inadequate capital and earning prospects.
About Reserve Bank of India (RBI):
Governor – Shaktikanta Das
Deputy Governors – Swaminathan Janakiraman, Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar
Establishment – 1st April 1935
Headquarters – Mumbai, Maharashtra
>> Read Full News

ECONOMY & BUSINESS

ONGC Signed Agreement with HPCL for Sale of Oil from Mumbai Offshore
Oil and Natural Gas Corporation Limited (ONGC), the largest crude oil and natural gas Company in India, signed an agreement to supply crude oil from Mumbai (Maharashtra) offshore fields to Hindustan Petroleum Corporation Ltd (HPCL). This agreement covers the sale of approximately 4.5 million tonnes of crude oil per annum to HPCL’s Mumbai refinery.

• ONGC and HPCL are the Maharatna Central Public Sector Undertakings (CPSUs) under the Ministry of Petroleum and Natural Gas(MoPNG). HPCL is a subsidiary of ONGC

Note: ONGC produces 13-14 million tonnes of crude oil per year from its resources in the Arabian Sea, off the coast of Mumbai.
This is ONGC’s 2nd  term agreement sealed for the sale of Mumbai Offshore crude oil post-marketing freedom. Previsouly, in August 2023, ONGC signed a similar agreement with Bharat Petroleum Corporation Ltd (BPCL) to supply 4 million tonnes per annum of crude oil, with an optional 0.5 million tonnes.
About Oil and Natural Gas Corporation (ONGC):
Chairman & CEO– Arun Kumar Singh
Headquarters– New Delhi, Delhi
Established in– 14th August 1956

AWARDS & RECOGNITIONS

Agri Scientist Swati Nayak Becomes 3rd Indian to be Honoured with Norman E. Borlaug AwardIndian Scientist Swati Nayak has been named the 2023 recipient of the Norman E. Borlaug Award for ‘Field Research and Application’. She became the third Indian  and first odia (Odisha) scientist to receive this award in Field Research and Application. The award was announced in Climate Week New York City which held from 17-24 September 2023.

• She received the recognition for her innovative approach of engaging farmers in demand-driven rice seed systems, from testing and deployment to access and adoption of climate-resilient and nutritious rice varieties.

Note: The other two Indians who received this award is  Aditi Mukherji (2012) and Mahalingam Govindaraj (2022).
About Swati Nayak:
i.Swati Nayak is a Scientist and the South Asia Lead for Seed System and Product Management at the International Rice Research Institute (IRRI), New Delhi, Delhi.

• Nayak joined IRRI in 2013 as a specialist in Agriculture Research & Development (Gender, climate change)

ii.She is  fondly called Bihana Didi (seed lady) in Odisha.
iii.She also serves as the Global Lead for Rice and Co-lead for Cereal Seed Systems  under the  key initiative SeedEqual of Consortium of International Agricultural Research Centers (CGIAR), a global research partnership of centers conducting research on agriculture food systems.
Achievements:
i.Nayak developed high demanded drought-tolerant rice variety called Shahabhagi Dhan.
ii.She is also one of the key scientists working in the international seed policy agreement called Seeds Without Borders,  which speeds the dissemination of modern rice varieties across South and Southeast Asia.
iii.Nayak anchored Mahila Kisan Sashaktikaran Pariyojna (MKSP), an initiative under National rural Livelihood Mission(NRLM).

• This was the first ever such dedicated initiative approved by Indian Cabinet for women farmers.

iv.She disseminated more than 20 promising climate-resilient and bio-fortified rice varieties.
About Norman E. Borlaug Award:
i.The Norman E. Borlaug Award for Field Research and Application, endowed by the Rockefeller Foundation
ii.The award is presented annually by the World Food Prize Foundation to an individual under the age of 40 who has made a significant contribution to improving global food security and nutrition.
iii.The recipient will receive USD 10,000 and an award diploma.
Additional Info:
Swati Nayak is set to formally receive the award during the Borlaug Dialogue scheduled to take place on 24 October 2023 in Des Moines, Iowa in United States of America(USA).

APPOINTMENTS & RESIGNATIONS

ICICI Lombard General Insurance Appoints Sanjeev Mantri as MD & CEOICICI Lombard General Insurance Limited appointed Sanjeev Mantri as the Managing director (MD) and Chief Executive Officer (CEO) of the company following the resignation of Bhargav Dasgupta from the post.

• Sanjeev Mantri is currently serving as the Executive Director of ICICI Lombard General Insurance (since 2015).

Details of the Appointment:
i.Sanjeev Mantri will take on the position of MD and CEO from 1st December 2023 or the date of approval from the Insurance Regulatory and Development Authority of India (IRDAI), whichever is later, for a period of five consecutive years or his date of retirement, whichever is earlier, subject to the approval of IRDAI and the members of the company.

• However, till 30th November 2023, Bhargav Dasgupta will continue to be the MD&CEO.

About Sanjeev Mantri:
i.Mantri is a cost and chartered accountant; He began his career with Bennett Coleman and Co., followed by key leadership positions at BNP Paribas.
ii.He was in charge of the retail division of ICICI Lombard and is responsible for the distribution of products across agency, bancassurance, direct, and alternate channels.

• He also heads the strategy, products, analytics, pricing, marketing, and corporate communication segments in the company.

iii.Prior to ICICI Lombard, he handled Rural and Inclusive Banking portfolio at ICICI Bank.
About ICICI Lombard General Insurance Limited:
Managing Director & Chief Executive Officer(CEO) – Bhargav Dasgupta
Headquarters – Mumbai, Maharashtra
Established in – 2001

SCIENCE & TECHNOLOGY

LSAM 9 (Yard 77): Indian Navy’s 3rd MCA Barge launched at Visakhapatnam
Commodore G Ravi, Warship Production Superintendent (Visakhapatnam, Andhra Pradesh) launched Yard 77 (LSAM 9), the 3rd Missile Cum Ammunition (MCA) Barge of the Indian Navy, at the at Guttenadeevi, East Godavari, Andhra Pradesh, the launch site of M/s SECON Engineering Projects Pvt Ltd.

• The Barge featuring major and auxiliary equipment/systems sourced from indigenous manufacturers is in line with the Make in India initiative of the Ministry of Defence.
• The barge is constructed under the classification rules of the Indian Register of Shipping (IRS), with a service life of 30 years.

The contract for the construction and delivery of 08 X MCA Barges was concluded with M/s SECON Engineering Projects Pvt Ltd, Visakhapatnam, a Micro, Small, and Medium Enterprises (MSME) shipyard, aligning with the GoI’s “Aatmanirbhar Bharat” (Self-reliant India) initiatives.

• The availability of MCA Barges is set to significantly enhance the operational commitments of the Indian Navy (IN), making the transportation, embarkation, and disembarkation of articles and ammunition for IN Ships more efficient.
• The MSME shipyard had already delivered the first Barge of the series LSAM 7 (Yard 75) on 18th July 2023 and the 2nd Barge, Yard 76 (LSAM 8) on 18th August 2023.

SPORTS

Max Verstappen wins Japanese Grand Prix 2023; Marks His 13th Title of 2023Belgian-Dutch driver Max Verstappen (competing under Dutch flag) of Red Bull won the Formula 1 (F1)  Japanese Grand Prix 2023 held in Suzuka International Racing Course from 22nd – 24th September 2023.

British-Belgian driver Lando Norris (competing under British Flag) of McLaren finished second while Australian racing driver Oscar Piastri of  McLaren won third place.

• This marks Max Verstappen’s 13th victory in 16 races of the 2023 season and Red Bull’s 15th title of the season.
• This also marks his 2nd consecutive Japanese Grand Prix title, He previously won the title in 2022.
• This also marks Max Verstappen’s 48th career win. It was his 29th career pole position and the 9th pole in 2023 season.

Winners of Japanese Grand Prix 2023:

F1 Constructors Championship 2023:
i.Red Bull team won the F1 Constructors Championship 2023 by earning 623 points so far in the 2023 F1 season

• This marks Red Bull’s second consecutive Constructors title and also their sixth title since they entered the sport in 2005.
•  Red Bull won the constructors’ title in 2010,2011,2012,2013,2022 & 2023.
• The constructors’ title was awarded to the team based on the points earned by the finishing position of each of their two drivers at each Grand Prix.

F1 Driver standing:
i.Max Verstappen leads F1 Driver standing points, and he could win his third consecutive driver’s title(world championship) if he wins the 2023 Qatar Grand Prix which is set to be held in October 2023.
ii.As of now, Verstappen has 400 points in driver standing while Mexican driver Sergio Perez of Red Bull is in 2nd place with 223 points and British driver Lewis Hamilton of Mercedes is at 3rd place with 190 points.
About Japanese Grand Prix 2023:
i.The first edition of the Japanese Grand Prix was held in 1987.

• Circuit Length – 5.807km
• Number of Laps – 53
• Race Distance – 307.471 km

ii.Sponsorship – Lenovo
About Federation Internationale de l’Automobile (FIA)
The F1 Grand Prix races are organised by Federation Internationale de l’Automobile (FIA).
President – Mohammed Ben Sulayem
Headquarters – Paris, France
Established – 1904

OBITUARY

National Award Winner, Veteran Malayalam Filmmaker KG George Passed AwayVeteran Malayalam film director and National Award winner Kulakkattil Geevarghese (KG) George passed away at the age of 77 near Kakkanad in Kochi, Kerala. He was born on 26 May 1946 in Pathanamthitta, Kerala.
About KG George:
i.KG George started his film career as an assistant to Ramu Kariat in the early 1970s.
ii.He debuted as a director with the film ‘Swapnadanam’ (1975) starring Rani Chandra.

• He won the National film award for best feature film in Malayalam for his debut movie ‘Swapnadanam’ in 1976.
• The film also won 2 Kerala State Film Awards for Best Film and for Best Screenplay.

iii.His prominent directorial works include ‘Ulkkadal’ (1979); ‘Onappudava’ (1978); ‘Panchavadi Palam’ (1984); ‘Adaminte Vaariyellu’ (1984); among others.
v.The last film he directed was Elavamkodu Desam, a period drama in 1998.
Awards:
i.He has won a total of 9 Kerala State Film Awards for his film Swapnadanam(1975); Rappadikalude Gatha (1978) Yavanika (1982); Adaminte Variyellu(1983); and Irakal(1985).
ii.He was honoured with the JC Daniel Award for 2015 in recognition of his lifelong contributions to Malayalam cinema.

• JC Daniel Award is the highest award for contribution to Malayalam Cinema.

Other careers:
i.KG George was selected as a jury member for the National Film Awards in 2000 and he also chaired the jury of the Kerala State Film Awards in 2003.
ii.He also held the position of chairman of the Kerala State Film Development Corporation (KSFDC) for five years.
iii.He was the founder and chairman of the Malayalam Cine Technicians Association (MACTA) and continued to be an executive member.

BOOKS & AUTHORS

UOW Australia& NSE Academy Unveils New Book on Corporate Finance 
The University of Wollongong (UOW), Australia in collaboration with the NSE Academy Limited launched the global edition of the book Introduction to Corporate Finance (sixth edition) at the NSE India(National Stock Exchange of India Ltd) headquarters in Mumbai, Maharashtra.

• The book is authored by first year lecturers at UOW campuses (in Hong Kong and Dubai).
• The book covers the principles of valuing and trading of shares in UAE, India, Malaysia, Hong Kong and Australia; The book hels in understanding the complexities and nuances of the corporate finance landscape.
• The book was launched by NSE Managing Director and Chief Executive Officer (CEO) Ashishkumar Chauhan, UOW Vice-Chancellor and President Professor Patricia M. Davidson, and UOW’s Global Brand Ambassador Adam Gilchrist.

Note: On 18th September 2023, UOW Australia unveiled its UOW India identity at the Gujarat International Finance Tec-City (GIFT City), Gandhinagar and became one of the 1st foreign universities to have an International Branch Campus (IBC), a teaching base in India. This will award Australian degrees to Indian students.

IMPORTANT DAYS

International Day for the Total Elimination of Nuclear Weapons 2023- September 26 The United Nations (UN) International Day for the Total Elimination of Nuclear Weapons is annually observed across the globe on 26 September to enhance public awareness about the threat posed to humanity by nuclear weapons and the necessity for their total elimination.

• This day provides an opportunity to educate the public about the real benefits of eliminating such weapons, and the social and economic costs of perpetuating them.

Background:
i.On 26 September 2013, the United Nations General Assembly (UNGA) adopted a resolution A/RES/68/32 and declared 26 September of every year as the International Day for the Total Elimination of Nuclear Weapons.

• The resolution was the follow-up to the UNGA’s first-ever high-level meeting on nuclear disarmament in 2013.

ii.The first-ever International Day for the Total Elimination of Nuclear Weapons was observed on 26 September 2014.
>> Read Full News

World Contraception Day 2023 – September 26 World Contraception Day is annually observed across the globe on September 26th to raise awareness about contraception and to enable people to make informed choices about their sexual and reproductive health.

• 26th September 2023 marks the observance of 17th World Contraception Day.

The theme of World Contraception Day 2023 is “The Power of Options”
Background:
i.World Contraception Day was established by the 10 International Family Planning Organizations to highlight the importance of contraception as a conscious choice in family planning.
ii.The first-ever World Contraception Day was observed on 26 September 2007. 
>> Read Full News

World Environmental Health Day 2023- September 26World Environmental Health Day is annually observed across the globe on 26 September to raise awareness about the importance of environmental health and to promote action to protect human health from environmental hazards.

• The day is dedicated to raising awareness about the critical role the environment plays in our well-being.

The 2023 theme of World Environmental Health Day is, “Global Environmental Public Health: Standing up to protect everyone’s Health each and every day“.

• The theme highlights that Environmental health is a critical component of public health, encompassing both natural and human-induced factors that shape our well-being.

Background:
i.On 26 September 2011, World Environmental Health Day (WEHD) was officially declared by the International Federation of Environmental Health (IFEH).
ii.The declaration was in support of the inaugural Environmental Health Youth Summit held in Denpasar, Bali, Indonesia, in conjunction with the annual meeting of the Council of the Federation.

• The declaration was made official by the Board of Directors of the IFEH.

iii.Since its inception, WEHD has grown to become a global platform for addressing critical environmental health challenges and promoting sustainable practices.
>> Read Full News

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