Current Affairs 28 July 2023

We are here for you to provide the important Recent and Latest Current Affairs 28 July 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

MoA & FW Launched 3 Technological Initiatives Under PMFBY & RWBCISOn 21st July 2023, the Ministry of Agriculture and Farmers Welfare (MoA & FW) launched 3 technological initiatives under the Pradhan Mantri Fasal Bima Yojana (PMFBY) and Restructured Weather Based Crop Insurance Scheme (RWBCIS) to empower farmers and streamline their operations in New Delhi, Delhi.

• Union Agriculture Minister Narendra Singh Tomar and Union Minister for Earth Sciences Kiren Rijiju launched the new initiatives, including YES-Tech (Yield Estimation System, based on Technology) Manual, Weather Information Network Data Systems (WINDS) portal and AIDE (Sahayak) mobile app, to provide farmers with accurate weather data, yield estimates, and crop insurance access, effective from the current tender cycle of 2023-25.

Key highlights:
i.Minister of Agriculture announced the delinking of subsidies, ensuring that farmers receive their claim payments without waiting for State actions.
ii.This provides financial security to farmers as the centre releases its share of subsidies independently.
About Ministry of Agriculture and Farmers Welfare (MoA & FW):
Union Minister- Narendra Singh Tomar (Constituency-Morena, Madhya Pradesh)
Minister of State- Sushri Shobha Karandlaje; Kailash Choudhary
>> Read Full News

Ministry of Jal Shakti Celebrated 1st Anniversary of Rural WASH Partners Forum (RWPF) in Delhi

The Rural WASH Partners’ Forum (RWPF), a platform of the Department of Drinking Water & Sanitation (DDWS) under the Ministry of Jal Shakti, celebrated its 1st anniversary during a two-day National Conference on Rural WASH Partners’ Forum at Vigyan Bhawan, New Delhi, Delhi.
i.The theme of the conference was “Accelerating Progress towards a Swachh Sujal Bharat”.
ii.The conference was inaugurated by Union Minister of Jal Shakti Shri. Gajendra Singh and launched various initiative such as

• Release of the Manual for Disaster Management Plan (DMP),
• Set up of Jal Jeevan Mission (JJM) Digital Academy,
• RWPF Annual Yearbook and Web page,
• Swachhata Chronicles – Transformative Tales from India, and
• Field Assessment Framework and Ranking Protocol of SSG 2023.

>> Read Full News

‘India AI’ and Meta, India sign MoU to Foster Advancements in AI & Emerging TechnologiesOn July 26, 2023, India AI and Meta,India signed a Memorandum of Understanding (MoU) to foster collaboration in the field of Artificial Intelligence (AI) and Emerging Technologies.

• India AI is an Independent Business Unit (IBD) under Digital India Corporation (DIC) of the Ministry of Electronics and Information Technology (MeitY).
• The partnership will promote social inclusion, enhance government service delivery, and drive innovation using large language models, Generative AI, cognitive systems, and translation models.

Signatories:
It was signed by Abhishek Singh, Chief Executive Officer (CEO) of India AI; and Shivnath Thukral, Director & Head of Public Policy, Meta in India.
Objectives of the MoU:
i.To establish a framework for collaboration and cooperation between both entities in the field of AI & Emerging Technologies
ii.To make Meta’s open-source AI models available for use by Indian AI ecosystem.
What will be done under the MoU?
i.The collaboration aims to conduct advanced joint research and development, utilizing cutting-edge AI technologies to address significant challenges on a large scale.
ii.Both organizations are considering the establishment of a Center of Excellence (CoE) to support the AI and other Emerging Technologies startup ecosystem.
iii.By utilizing Meta’s AI research models such as LlaMA, Massively Multilingual Speech, and No Language Left Behind, the partnership will concentrate on creating datasets in Indian languages.

• This will enable translation and the development of large language models, with a special focus on low-resource languages.

iv.Work will be done to improve accessibility to AI compute resources for researchers, startups, and organizations with limited resources, facilitate knowledge sharing and collaboration through workshops, seminars, conferences, and similar platforms, and work together to promote responsible AI practices by jointly developing comprehensive tools and guidelines.

CEM-14/MI-8 held in Goa on the sidelines of the 4th Energy Transitions Working GroupThe 8th Mission Innovation Ministerial (MI-8) and 14th Clean Energy Ministerial(CEM-14), hosted by the Ministry of Power and Department of Science and Technology, took place alongside the 4th Energy Transitions Working Group (ETWG) meeting under India’s Group 20 (G20) Presidency held in Goa from 19th July 2023 to 22 July, 2023.

• The theme for the year 2023  is ‘Advancing Clean Energy Together’.
• The event was attended by 34 member countries.
• The 4th ETWG Meeting was chaired by Pankaj Agarwal, Secretary, Ministry of Power.

EESL signs 15 MoU on Green Energy at G20 meet
The Energy Efficiency Services Limited (EESL), a Public Sector Undertakings under the Ministry of Power, signed 15 Memorandum of Understanding (MoUs) worth Rs.700 crore, on the sidelines of the recently concluded G20 green energy ministerial in Goa.

• The purpose of MoU is to strengthen the EESL’s commitment to exploring innovative solutions for energy access, clean cooking, decarbonisation, and energy efficiency initiatives in India.

>> Read Full News

Bengaluru Becomes 1st Indian City to Join World Cities Culture ForumBengaluru, the capital of Karnataka became the first Indian city to be part of the World Cities Culture Forum (WCCF), a global network of cities that share research and intelligence to explore the role of culture in future prosperity.

• Bengaluru became the 41st city to join the forum and the network currently includes 40 cities across six continents. The forum includes cities like New York, London, Paris, Tokyo, and Dubai. list of all wccf cities

Bengaluru’s way to WCCF:
 i.The participative project called Unboxing Bangalore is established to create a new narrative around Bengaluru through multimedia properties and they have been representing the city and leading the discussions.
ii.WCCF will work closely with Unboxing BLR Foundation, a not-for-profit initiative co-founded in April 2022 by Prashanth Prakash, Founding Partner of Accel India and Philanthropist, and journalist Malini Goyal.
About WCCF:
i.It was founded in 2012 by Justine Simons, London’s Deputy Mayor for Culture & the Creative Industries.

• She was awarded an Order of the British Empire(OBE) in 2015 by Queen Elizabeth for her Services to Culture in London.

ii.WCCF partners share the belief that culture is the key to their future as sustainable urban centres.
iii.The WCCF undertakes comparative research to assess the impact and significance of culture and creativity and shares its findings with the Forum so that partner cities can make evidence-based policy decisions.
iv.Forum partners collaborate through a series of events that includes themed symposia, regional summits, and workshops and These activities contribute to the yearly World Cities Culture Summit.
About Bengaluru cultural aspects:
i.Bengaluru is commonly referred to as the ‘Silicon Valley of India’ because of its role as the nation’s leading information technology exporter.
ii.Bengaluru is home to more than 30 government and private museums that showcase the city’s rich history, art and culture.

•  India’s first interactive music museum opened in 2019.

iii.As the “Garden City of India”, it has many green spaces including two nationally recognised botanical gardens, Lal Bagh and Cubbon Park that act as green lungs for the city.
iv.The variety of festivals and cultural events takes place including The Bengaluru International Film Festival, The Bangalore Literature Festival, Bengaluru Design Festival and Future Fantastic Festival.

ITC released a Special Stamp on Mission Millets in collaboration with Department of Post
On 25th July 2023, ITC Limited, a leading Indian multi-business enterprise based in Kolkata, West Bengal, has released a special postal stamp, a “Customised My Stamp” on Mission Millet in collaboration with the Department of Post(India Post) under the Ministry of Communication.The stamp was released by Kailash Choudhary, Minister of State (MoS) for the Ministry of Agriculture & Farmers’ Welfare(MoA&FW).

• The postal stamp was released to celebrate Shree Anna and to create awareness about the importance of Millets.
• The postal stamp is a part of ITC’s Mission Millets initiative commemorating the International Year of Millets 2023.
• The exclusive ITC Mission Millets postal stamp acknowledges the significant role of farmers and connects sustainable farming to nutritious food products and delicious millet-based recipes and dishes.

Note: ‘My Stamp’ is the brand name for personalized sheets of Postage Stamps of India Post.Customized My Stamp is a personalized sheet of Postage Stamps wherein the
corporate, organizations and institutions can get their customized sheets printed
from India Post.
ITC Mission Millets:
i.ITC launched Mission Millets in 2023, focussed on mainstreaming millets and in order to support the Government of India’s (GoI) commitment to ‘Help India Eat Better’.
ii.ITC Mission Millets is powered by 3 Pillar strategy, which includes the development of a ‘good-for-you’ food portfolio; the implementation of sustainable farming systems; and the creation of a robust millets agri value chain.
iii.Along with the Mission Millets initiative ITC also promoting Farmer Producer Organizations (FPOs) in millet farming connected through its app ITC Meta Market for Advanced Agricultural Rural Services (ITCMAARS), an integrated ‘phygital’ eco-system to provide farmers with agricultural and related services on a digital platform in 2022.
Key Points:
i.The ITC Millets Stamps release will further strengthen the vision of ITC to empower, educate and encourage millet farming and consumption in India.
ii.India is the largest millet producer in the world.The efforts taken by the Ministry of Agriculture and Farmers Welfare on millets include the

• Celebration of the International Year of Millets-2023;
• Holding of G20 Agriculture Ministerial Meeting (AMM);
• Designating Indian Council for Agricultural Research (ICAR)-Indian Institute of Millets Research (IIMR), Hyderabad as Global Centre of Excellence on Millets.

Other Participants:- Sushri Manju Kumar, Chief Post Master General, Department of Post, and S Sivakumar, Group Head – Agri Business, ITC.
Additional Info:
In March 2023, ITC Ltd partnered with the Bharat Banking Mission of Axis Bank to offer lending products and services to farmers, who are a part of the Agricultural Ecosystem of ITC.

BANKING & FINANCE

CRISIL’s 2023 Greenwich Share and Quality Leaders: HDFC Bank tops in 3 Categories According to the list “2023 Greenwich Share and Quality Leaders in Indian Large Corporate & Middle Market Banking” released by Coalition Greenwich, a division of CRISIL Limited, HDFC Bank has topped among three categories.

• HDFC Bank has topped the list of Indian Large Corporate Banking Market Penetration (Local Banks); Indian Middle Market Banking Market Penetration(Local Banks) and Indian Middle Market Banking Quality (Local Banks).
• This list is a part of a study ‘Indian Corporates Turn to Big Banks to Fund Ambitious Growth- 2023 Greenwich Leaders: Indian Corporate Banking‘.

i.In the list of Greenwich Share Leader 2023(Large Corporate), HDFC Bank has overtaken State Bank of India (SBI) and topped the list of Indian Large Corporate Banking Market Penetration – Local Banks.
ii.ICICI Bank has topped the Indian Large Corporate Banking Quality – Local Banks and emerged as the sole designation for Greenwich Quality Leader 2023(Large Corporate).
About CRISIL Limited:
CRISIL Ltd was formerly known as Credit Rating Information Services of India Limited. It is a leading, agile and innovative global analytics company owned(majority) by S&P Global Inc.
Managing Director and CEO– Amish Mehta
Headquarter– Mumbai, Maharashtra
>> Read Full News

Federal Bank launches Non-Resident SB Account ‘NRE Eve+’ for NRI WomenThe Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) launched a unique Non-Resident (NR) Saving Bank (SB) account scheme, named SB NRE (Non-Resident External) Eve+ designed exclusively for the financial needs of Non-Resident Indian (NRI) women.

• The scheme provides variety of benefits geared at enhancing the financial journeys of the NRI women.

Launch of SB NRE Eve+:
i.During the global virtual launch, the product theme as well as the prototype of the customised debit was revealed and a debit card was presented to the first NRE Eve+ customer (Suni Paul) of the Federal Bank.
ii.The release of NRE Eve+ Savings Account was announced at the ‘Nurses Day Out’ Event conducted as part of Nikai Angel Awards 2023 held at the De Montfort University, Dubai, United Arab Emirates (UAE) on 23rd July 2023.

• First Account Holders: The first NRE Eve + account holders from Abu Dhabi, UAE were Dr. Jean Shahdadpuri, Managing Director, Nikai Group of Companies; Mrs. Beena Muraleedharan, Executive Director, SFC Group and Mrs. Danesa Thandassery Raghulal, Executive Director, Elite Foods Pvt Ltd.

Some Features of the Account:
i.Customers get free access to domestic and international airport lounges.
ii.The NRE Eve+ debit card provide customised offers including exclusive discounts on beauty, health care, dining, shopping, travel, and entertainment, all of which are served to the tastes of women.
iii.Safe Deposit Locker and Portfolio Investment Services available at concessional rates.
iv.Zero balance savings accounts for two children below 12 years of age.
v.Complimentary Insurance up to Rs.78 lakhs that includes child education benefits, accidental health, hospital cash & card protection.
vi.50% concession on Processing Fee / Administration Fee for Home Loans & Car loans.
vii.Free Mobile Alerts & Mobile Banking, Free Email alerts and Free unlimited at par cheque books.
About Federal Bank Ltd:
Tagline– Your Perfect Banking Partner
Chairman– C. Balagopal
MD&CEO–  Shyam Srinivasan
Headquarters– Aluva, Kerala
Established on– April 23, 1931

HDFC Bank partners with Davara KGFS for Co-lending Loans to Micro Enterprises
Dvara Kshetriya Gramin Financial Services (KGFS), Chennai(Tamil Nadu) based Non-Banking Financial Company (NBFC), and HDFC Bank Limited have entered into a co-lending partnership to provide business capital to micro enterprises operating primarily in the unorganised sector, that have limited access to formal sources of finance.

• The partnership aligns with the Dvara KGFS’s 2023 Annual Operating Plan (AOP) looking to enable credit for micro businesses across the 10 states that it serves.
• This partnership will increase Dvara KGFS’s capabilities in empowering the operations of micro business in rural areas.
• The co-lending collaboration between banks and NBFCs encouraged by the Reserve Bank of India (RBI) has been a promising development to address the credit gap in the Micro, Small & Medium Enterprises (MSME) sector.

Dvara KGFS launched its Enterprise Loans vertical in 2020 with focus on 3 value chains namely grocery, dairy and agriculture. It has assisted numerous beneficiaries with working capital and business growth loans so far.

ICICI Prudential Life Insurance launches ICICI Pru Protect N Gain, a Protection based Saving Life Insurance Plan
On 24th July 2023, ICICI Prudential Life Insurance Company Limited (ICICI Prudential Life), launched ‘ICICI Pru Protect N Gain‘, a protection-oriented life insurance plan that offers life protection against Accidental Death and Accidental Disability (Permanent disability due to accident) along with market-linked returns.

• The scheme offers the dual benefits of protection and long-term savings to achieve the fundamental needs of customers.
• The product provides the opportunity to offer life insurance protection of up to 100 times the annual premium and enables customers to maximise returns through 18 funds options spread across equity and debt.
• It provides the customers a life insurance cover for the entire policy time and ensures financial security to their families during the policy tenure and significant lump sum for self on survival.

Note: ICICI Prudential Life Insurance Company Limited is promoted by ICICI Bank Limited and Prudential Corporation Holdings Limited. 

APPOINTMENTS & RESIGNATIONS

Pedro Sánchez named caretaker PM of Spain After Inconclusive ElectionOn 25th July 2023, Pedro Sánchez, General Secretary of Spanish Socialist Workers’ party (Spanish acronym: PSOE) was formally named as caretaker Prime Minister (PM) of Spain. The interim government will remain in power until a resolution is reached for the political uncertainty that emerged from the inconclusive elections held on 23rd July 2023.

• Pedro Sánchez has been the 7th PM of Spain (officially president of the Government of Spain) since 2018.
• In 2018, he became the first politician from Spain to unseat a PM (Mariano Rajoy) through a motion of no-confidence.

Note – A caretaker Prime Minister, also known as a interim Prime Minister, is a temporary leader appointed during a period of political transition or uncertainty until a new government is formed or the political situation is resolved.
Background:
i.The election held on 23rd July 2023 was called by the PM Pedro Sánchez after his party PSOE lost in the regional and municipal elections took place in May 2023.
ii.The general election of  Spain held on 23rd July 2023, conservative People’s Party (PP) won 136 seats and the far right Vox Party won 33 seats.
iii.The coalition of PP and Vox jointly won 169 seats, 7 short of an absolute majority of 176 in Spain’s 350 seat parliament.
iv.Spanish Socialist Workers’ party (PSOE) finished 2nd with 112 seats.
v.The PSOE and its allies in the new, far-left Sumar coalition won a total of 153 seats.
About Pedro Sánchez:
i.Pedro Sánchez, born in Madrid (Spain) in 1972, and in 1993 he joined the PSOE party of Spain and is serving as the General Secretary of the party.
ii.He worked as an adviser at the European Parliament and was a member of the cabinet office of the United Nations High Representative for Bosnia Herzegovina.
iii.He was also served as the Leader of the Opposition and candidate to the Presidency of the Government between 2014 and 2016.
iv.Prior to that, he served as a Member of the Lower House of Parliament for the constituency of Madrid and a City Councillor for Madrid, Spain.
About Spain:
Capital– Madrid
Prime Minister– Pedro Sánchez (interim)
Currency– Euro

UAE Minister for Foreign Trade has been Elected as Chair of WTO’s MC13
On 24th July 2023, Dr. Thani bin Ahmed Al Zeyoudi, United Arab Emirates (UAE) Minister of State for Foreign Trade has been elected as the chair of the World Trade Organisation’s (WTO) 13th Ministerial Conference (MC13).

• The announcement was made during the WTO General Council in Geneva, Switzerland where Dr Al Zeyoudi met with the WTO director general Ngozi Okonjo-Iweala.

The MC13 which will be held at the Abu Dhabi National Exhibition Centre, Abu Dhabi,United Arab Emirates from 26th to 29th of February 2024 will be attended by representatives from the 164 countries and customs blocs that make up the WTO.          

ACQUISITIONS & MERGERS

M&M buys 3.5% stake in RBL Bank for Rs 417 crore
On 26th July 2023, Mahindra & Mahindra Limited (M&M), automotive manufacturing company of Mahindra group, acquired a 3. 53% stake in Mumbai(Maharashtra) based RBL Bank, formerly known as Ratnakar Bank, for Rs 417 crore.

• This is  the first significant move by a manufacturing sector to venture into a private bank, after new norms of Reserve Bank of India(RBI) in 2021.
• There is also a scope for further investments of Mahindra & Mahindra subjected to the cap of  9. 9%

New norms of Reserve Bank of India(RBI) – 2021:
i.Industrial houses can hold upto 10% stake in banks, but cannot be their promoters.
ii.Financial institutions, supranational institutions, public sector undertaking and central/state government can hold upto 10% stake in banks, but cannot be their promoters.
iii.Banking company(after the completion of business of 15 years) can hold upto 26% stake in banks, but can be their promoters.
Additional Info:
As per RBI norms, any entity looking to acquire over 5% stake in a bank needs to seek prior approval from the regulator.
About RBL Bank:
Managing Director(MD) & Chief Executive Officer(CEO) – R Subramaniakumar
Headquarters – Mumbai, Maharashtra
Tagline – Apno ka Bank      

SPORTS

Aditya Samant Becomes India’s 83rd Chess GrandmasterOn 26th July 2023, Aditya S Samant (17) an International Master, became India’s 83rd chess Grandmaster (GM) by earning his 3rd GM norm against Aryan Chopra in the 9th round of Biel Chess Festival Master Tournament (MTO) 2023 in Switzerland.
Note: To become a GM, a player has to secure 3 GM norms and cross the live rating of 2,500 Elo points.
Key points:
i.Aditya who hails from Maharashtra earned his 1st GM norm at the age of 16 at the ABU Dhabi Masters in Abu Dhabi, United Arab Emirates (UAE) in August 2022 and secured his 2nd GM norm at the 3rd El Llobregat Open, Spain in December 2022.
ii.His live rating when going into the ninth round game was 2525.4 and to achieve his 3rd GM norm, he just needed to play his 9th round game against Aryan Chopra.
iii.Aditya became an International Master in 2022 at the 1st Maharashtra GM Open 2022.
Indian achievers in Biel Chess tournament:
i.Aditya is the third Indian to achieve the final GM norm at the Biel Chess tournament.
ii.In 2021, Harshit Raja and in 2022, Pranav Anand earned their final GM norm at the Biel Chess tournament.
82nd Grandmaster:
Telangana’s Vuppala Prraneeth had become India’s 82nd Grandmaster in May 2023.

OBITUARY

Renowned Marathi Writer Shirish Kanekar Passed Away
On 25th July 2023, Shirish Kanekar, Veteran Marathi writer and columnist passed away in Mumbai, Maharashtra at the age of 80. He was born on June 6, 1943 in Pune, Maharashtra.

• He worked at Marathi and English language publications like Loksatta, Indian Express, Samana, and Free Press Journal. He was popular for his newspaper columns on Cinema, Cricket and Politics.
• His notable works include: Humorous articles like ‘Kanekari’, Fillambaji’, and ‘Shirishasan’; Bollywood movies such as “Nut Bolt Bolpat,” “Kanekari,” and “Cricket Vedh”; Books such as Irsalaki; Surparambya.

His collection of stories titled ‘Lagaon Batti,’ was recognised and honoured with the Maharashtra Literary Parishad Award for Best Comedy- Joshi Award

IMPORTANT DAYS

85th CRPF Raising Day – 27th July 2023The Central Reserve Police Force (CRPF) Raising Day, also known as CRPF Foundation Day, is annually celebrated on 27th July to commemorate the establishment of CRPF, the largest of India’s Central Armed Police Forces, functions under the aegis of Ministry of Home Affairs (MHA) of the Government of India (GoI).

• The day recognises the valour courage and sacrifices of the soldiers of CRPF in the past 84 years, which plays a key role in India’s growth by maintaining peace and preserving internal security and national integrity of India.

27th July 2023 marks the observance of 85th Raising Day.
About Central Reserve Police Force (CRPF):
Director-General– Sujoy Lal Thaosen
Headquarters– New Delhi, Delhi
Established on– 27 July 1939
>> Read Full News

STATE NEWS

Walmart & Flipkart signed MoU with Telangana Govt to support MSMEs
On 25th July 2023, Walmart  and  Flipkart  signed a Memorandum of Understanding (MoU) with the government of Telangana to support the Micro, Small and Medium Enterprises (MSMEs) in Telangana. The MoU was signed between Swasti, the programme partner for Walmart Vriddhi Supplier Development Program (Walmart Vriddhi) in India and Industries and Commerce Department of Telangana.

• The MoU was signed in the presence of Jayesh Ranjan, Principal Secretary, Industries and Commerce Department, Telangana and Joseph Julian KG, programme director of Swasti.
• The objective of the MoU is to facilitate the development of local MSMEs towards accessing a wider domestic marketspace, support online retail and enable sustained growth and commercialisation.
• Under this MoU, Walmart will offer training and support to MSMEs to digitise their capacity building to get greater access to supply chains.
• In collaboration with Swasti, the Walmart Vriddhi programme offers small businesses and entrepreneurs a learning platform, provides free training, expert assistance, tools and skills required to grow and expand their ventures. Over 32,000 MSMEs have already completed the training.

Note: Walmart Vriddhi was launched in 2019 aimed to equip 50,000 Indian MSMEs with the skills necessary to succeed in business.

AP-Genco & NHPC to Form a Joint Venture for Implementing PSPHs in Andhra Pradesh
The Andhra Pradesh Power Generation Corporation (AP-Genco)  and National Hydroelectric Power Corporation Ltd. (NHPC) will form a Joint Venture (JV) for implementing Pumped Storage Hydropower Projects (PSPHs) with a total generation capacity of 6,000 Megawatt (MW)in Andhra Pradesh.

• The 1st project will be a 1,350 MW (9×150 MW) PSHP at upper Sileru in GK Veedhi mandal of Alluri Sitharama Raju (ASR) district.Upon completion , the combined installed hydropower capacity of the Sileru basin will reach over 2,425 MW.

The companies are yet to sign the drafted agreement and the partners would have an equal (50:50) stake.

Note: AP-Genco aims to generate 33 Giga-Watt(GW) with 29 PSP projects in upcoming year. The PSPHs with a total capacity of 11 GW are being handed over to private companies, and the remaining will be undertaken by AP-Genco and some by National Thermal Power Corporation Limited (NTPC).

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