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NATIONAL AFFAIRS
MoD Signs to Acquire Five Indigenously Built FSS from HSL Worthing 19,000 Crore
About The Fleet Support Ships (FSS):
- The FSS will be built with a length of 225 metres and a width of 32 metres and will have a displacement of 44,000 tonnes.
- It will be deployed for restocking ships at sea with fuel, water, ammunition and stores
- These ships can also be deployed for evacuation of people and human assistance and disaster relief (HADR) operations.
- The Fleet Support Ships (FSS) that are signed will carry a cargo of almost 25,000 tonnes
- These vessels is a flag bearer of ‘Aatmanirbhar Bharat’ in harmoniousness with the ‘Make in India’ initiatives.
- Construction of these ships encourage small and medium-sized enterprises to participate in production process.
- The 44,000-tonnes FSS will be the first of its kind to be constructed in India by an Indian Shipyard and will be successfully delivered in eight years.
About Ministry of Defence:
Union Minister – Raj Nath Singh (Lucknow, Uttar Pradesh)
Minister of States(MoS) – Ajay Bhatt (Nainital-Udhamsingh Nagar, Uttarakhand)
About Hindustan Shipyard Limited (HSL):
Chairman & Managing Director (CMD) – Hemant Khatri
Headquarters – Visakhapatnam, Andhra Pradesh
Established – 1941
Ministry of Jal Shakti Releases Report on 6th Census on Minor Irrigation Schemes
- This report will be useful for planners, researcher scholars, agricultural and groundwater scientists, and all concerned with the development of irrigation and the agricultural economy of India.
About Ministry of Jal Shakti:
Union Minister- Gajendra Singh Shekhawat (Constituency- Jodhpur, Rajasthan)
Ministers of State (MoS)- Prahlad Singh Patel (Constituency- Damoh, Madhya Pradesh); Bishweswar Tudu (Constituency- Mayurbhanj, Odisha)
>> Read Full News
INTERNATIONAL AFFAIRS
Highlights of PM Narendra Modi visit to SA for 15th BRICS Summit; BRICS officially expands from 5 to 11 members
ii.It should be noted that, the SA President Cyril Ramaphosa is the Chair of 15th BRICS Summit.
iii.On August 23, 2023 PM Narendra Modi attends 15th BRICS Summit held under SA’s chairship, in Sandton in Johannesburg, Gauteng, South Africa on the theme ‘BRICS and Africa: Partnership for Mutually Accelerated Growth, Sustainable Development and Inclusive Multilateralism’. This was the first in-person BRICS Summit since 2019.
iv.The event reviewed the ongoing initiatives and the identification of future prospects.
v.During the summit, a loan agreement was inked between the BRICS’ New Development Bank (NDB), and the Trans-Caledon Tunnel Authority (TCTA) for the implementation of phase II of the Lesotho Highlands Water Project (LHWP).
About South Africa:
President– Cyril Ramaphosa
Currency– South African Rand
Capital– Pretoria (executive), Cape Town (legislative), and Bloemfontein (judicial)
>> Read Full News
Overview of PM Modi Visit to Greece: Modi Honoured with Grecee’s Grand Cross of the Order of Honour
- PM Modi’s visit to Greece marks the first visit of an Indian Prime Minister to Greece in 40 years.
Note: Indira Gandhi was the last Indian Prime Minister to visit Greece. She travelled to Greece in September 1983.
Highlights:
i.Katerina Sakellaropoulou, President of Greece honoured PM Narendra Modi with The Grand Cross of the Order of Honour. He became the first Indian PM to receive the honours.
ii.India and Greece have decided to strengthen their bilateral relations into a strategic partnership for the benefit of the people of India and Greece.
iii.During his visit to Greece, PM Modi highlighted India and Greece’s plan to double the bilateral trade between India and Greece by 2030 and announced an agreement in the field of agricultural production.
About Greece:
Prime Minister– Kyriakos Mitsotakis
President– Katerina N. Sakellaropoulou.
Capital– Athens
Currency– Euro
>> Read Full News
Ex BRIGHT STAR-23: Maiden Multilateral Exercise of IAF Held in Egypt from August 27 to September 16, 2023
- The participation of IAF showcases India’s commitment to strengthening strategic partnerships and enhancing joint operational capabilities. IAF contingents engaging in flying exercises abroad make them true Diplomats in Flight Suits.
Aim of Ex Bright Star-23:
The objective of the exercise is to practice planning and execution of joint operations. Besides leading to the formation of bonding across borders, these exercises allow nations to plan and execute complex operations together.
Indian Participants:
i.The IAF contingent will consist of five MiG-29, two IL-78, two C-130 and two C-17 aircraft.
ii.Personnel from the IAF’s Garud Special Forces, as well as those from the Numbers 28, 77, 78, and 81 Squadrons, will be participating in the exercise.
iii.The IAF transport aircraft will also provide airlift to approximately 150 personnel from the Indian Army.
Other Participants:
Ex BRIGHT STAR-23 will also see the participation of contingents from the United States of America (USA), Saudi Arabia, Greece, and Qatar.
Key Points:
In the 1960s, India and Egypt fostered a remarkable relationship and deep cooperation that encompassed the development of aero engines and aircraft, along with extensive pilot training.
About Egypt:
Prime Minister– Mostafa Madbouly
Capital– Cairo
Currency– Egyptian Pound (EGP)
Govt of Canada Hosted 7th Assembly of the Global Environment Facility from August 22-26, 2023 in Vancouver, Canada
On 24th August 2023, the Global Environment Facility (GEF) launched the new Global Biodiversity Framework Fund (GBFF) designed to mobilize and accelerate investment for the conservation and sustainability of wild species and ecosystems globally.
On 23rd August 2023 GEF selected 23 civil society organizations as winners of its Inclusive GEF Assembly Challenge Program, and the winning projects were announced during the 7th GEF Assembly held at the Vancouver Convention Centre in Vancouver, Canada.
About Global Environment Facility (GEF):
Chief Executive Officer & Chairperson– Carlos Manuel Rodriguez
Headquarters– Washington, District of Columbia (DC), United States of America (USA)
Established in 1991 and started operations on the eve of the 1992 Rio Earth Summit
>> Read Full News
BANKING & FINANCE
DBS Bank Partners with Maptrasco to Complete First eBL Transaction Between India & Singapore
- The transaction was implemented under the TradeTrust framework, an initiative by the Infocomm Media Development Authority (IMDA) and supported by Enterprise Singapore.
About DBS Bank Ltd:
Chief Executive Officer– Piyush Gupta
Headquarters– Marina Bay Financial Centre, Singapore
Established in– 1968
>> Read Full News
Yes Bank Partnered with Zaggle to Launch Corporate Credit Card
Yes Bank Ltd launched a co-branded Corporate Credit Card named ‘YES BANK Zaggle Corporate Credit Card’ in partnership with Zaggle, a spend management platform, to empower businesses to redefine their corporate payments, expenditure management, and cash flow optimisation.
- The card provides a solution by granting businesses direct authority over company expenses. This includes setting individual spending limits, applying merchant category restrictions, and implementing diverse controls.
- The card will facilitate businesses to bring in greater cost efficiencies by facilitating integration with Zaggle’s ZatiX, a spend management and analytics platform, allowing corporates to optimise cash outflows.
- Yes Bank’s partnership with Zaggle allows businesses to enhance their operational efficiency by consolidating banking transactions, managing business expenses, and offering a centralized solution for tracking all business-related overheads.
- The Co-branded cards are a compelling proposition for businesses, offering a dual benefit of upfront savings on spending and the privilege of earning rewards on both spending and repayments across a large range of business expense categories.
Note: Zaggle collaborated with Yes Bank for prepaid cards in 2016, before the Reserve Bank of India (RBI)-initiated restructuring in 2019.
LIC tied up with Saraswat Cooperative Bank to sell LIC Products under Bancassurance
Life Insurance Corporation of India (LIC) tied up with a Mumbai (Maharashtra) headquartered Saraswat Cooperative Bank Ltd., India’s largest urban cooperative bank, to increase the distribution of life insurance products through the Bancassurance channel.
- Citizens and Customers of Saraswat Bank can now purchase LIC insurance products directly through Saraswat Bank.
- LIC, being the premier insurer of India, has insurance products for all segments of society, from annuity, Unit-Linked Insurance Plans (ULIP), and term insurance to savings plans.
- Saraswat Bank Bank has a vast network of 294 Branches (as of March 31, 2023) spread over 6 states and is serving over 2 million customers.
Note: Bancassurance refers to the partnership or relationship between a Bank and an insurance company whereby the insurance company leverages the Bank’s sales channel in order to sell insurance products.
APPOINTMENTS & RESIGNATIONS
Emmerson Mnangagwa Re-Elected As President As The Second Term
- He secured 52.6 percent of the vote against his opponent Nelson Chamisa of political party Citizens’ Coalition for Change (CCC) who secured 44 percent votes.
- He is known as ‘The Crocodile’ for his ruthlessness.
About the election:
i.This election occurs after six years (last in 2017) after the overthrow of longtime ruler Robert Mugabe in a military coup.
ii.In the election ZANU-PF obtained 136 out of the available 210 seats through a first-past-the-post mechanism; CCC secure 73 seats.
Additional info:
- The country is struggling with high unemployment and poverty.
- Nearly 3.8 million individuals are projected to experience food insecurity within the current year(2023-24).
About Zimbabwe:
Capital – Harare
Currency – Zimbabwe Dollar
SCIENCE & TECHNOLOGY
GRSE Signs MoU with DEMPO Group For Building Commercial Ships
- The vessels will be built at the 3 shipyards of the Dempo Group, including two in Goa and one in Bhavnagar, Gujarat.
- It marks the GRSE’s first attempt to build commercial vessels.
Note:
Dempo Shipbuilding & Engineering Pvt. Ltd wholly-owned subsidiary of V.S.Dempo Holdings Private Limited, is responsible for ship building and ship repair.
Dempo Group has two shipyards in Goa, one at Mandovi in Bainguinim, Old Goa, and the other at Undir, Bandora, on the banks of the Zuari River in Goa.
About the Partnership:
i.The partnership will create a very helpful ecosystem that will draw advantages from one another’s knowledge and use resources to secure more domestic and international shipbuilding orders.
ii.This is GRSE’s first attempt to significantly broaden its commercial shipbuilding operations in order to capture a significant market share in the building of both domestic and foreign commercial vessels.
Indian Shipbuilding Market:
i.According to a recent study, the Indian shipbuilding market is worth USD 7.1 billion in 2023 and is predicted to grow to USD 8.76 billion by 2028.
ii.Globally, the shipbuilding market is expected to develop at a compound annual growth rate (CAGR) of 5.45% from USD 170 billion to USD 230 billion by 2028.
- It also indicates India currently contributes less than 1% to the global commercial shipbuilding sector.
About Garden Reach Shipbuilders and Engineers (GRSE) Ltd:
GRSE is a Category 1 Mini Ratna Public Sector Undertaking (PSU) Company under the Ministry of Defence(MoD).
Chairman and Managing Director (CMD) – Commodore (Retd) P R Hari
Headquarters– Kolkata, West Bengal
Incorporated in 1934
SPORTS
Kunlavut Vitidsarn Wins Men’s Singles Title at the BWF World Championships 2023
- The TotalEnergies Badminton World Federation(BWF) World Championships 2023 held in Royal Arena, Copenhagen, Denmark from 21st to 27th August 2023.
- India’s HS Prannoy won the bronze medal in the men’s singles at the BWF World Championships 2023.
About the Badminton World Federation (BWF):
President – Poul-Erik Høyer Larsen
Headquarters – Kuala Lumpur, Malaysia
Established – 1934
>> Read Full News
Neeraj Chopra Wins Gold Medal in the World Athletics Championships 2023
- The 19th edition of the World Athletics Championships 2023 was held in (Venue – The National Athletics Centre) Budapest, Hungary from 19th to 27th August 2023.
- Indian men’s 4x400m relay team comprising Muhammed Anas Yahiya, Amob Jacob, Muhammed Ajmal and Rajesh Ramesh finished fifth in the finals.
- Parul Chaudhary finished 11th in the final of the women’s 3000m steeplechase.
- Jeswin Aldrin finished 11th in the Men’s long jump finals with a 7.77 m Jump.
About World Athletics(Formerly The International Amateur Athletic Federation):
President– Sebastian Coe
Headquarters– Monaco, Europe
Established -1912
>> Read Full News
OBITUARY
Eminent Indian English Poet Jayanta Mahapatra Passed Away
About Jayanta Mahapatra:
i.Jayanta Mahapatra has served as the professor of Physics at various government colleges in Odisha from 1949 to 1986(retired).
ii.He published his 1st book of poems “Svayamvara and Other Poems” in 1971.
iii.He has authored around 27 books which also includes 7 written in Odia and the remainder in English.
iv.He is will known for his poems like “Indian Summer” and “Hunger,” which are considered classic in modern Indian English literature.
Other Noted works:
Poetry: Bare Face, Shadow Space
Prose: Green Gardener(an Anthology of short stories); Door of paper: Essays and Memoirs.
Awards:
i.He received the Sahitya Akademi Awards in 1981 for Relationship(poetry), the first Akademi Awad for English poetry.
ii.Government of India honoured him with Padma Shri in 2009 for Literature and Education.But he returned the award in 2015 to protest against “rising intolerance in India”.
iii.He won the prestigious SAARC(South Asian Association Regional Cooperation) literary Award for the year 2009.
STATE NEWS
TN CM Stalin Launches Expansion of Breakfast Scheme for all TN govt School Students
On 25th August 2023, Tamil Nadu (TN) Chief Minister (CM), MK Stalin inaugurated the expansion of the state governments’ free breakfast scheme to all state-run primary schools from classes 1 to 5. With this scheme, TN has now become the first state in India to provide free breakfast to students in all government schools.
The scheme was inaugurated at a government school at Tirukkuvalai in Nagapattinam district, the birthplace of M Karunanidhi, former CM of TN and DMK patriarch.
- Nearly 17 lakh students across approximately 31,000 government schools in the state will benefit from the extension of the scheme. For this initiative, a sum of Rs 404 crore has been allocated.
- This scheme is viewed as an extension of the mid-day meals, the CM’s Free Breakfast Scheme is aimed at reducing malnutrition and increasing attendance by providing nutritious breakfast.
- The CM’s breakfast scheme was first inaugurated on September 15, 2022, on the occasion of the birth anniversary of C N Annadurai, former CM of TN, in Madurai, TN.
Note: TN was the first to introduce the mid-day meal scheme in India in 1922 in the then-Madras Presidency(Now Tamil Nadu). Former CM Kamarajar launched the full-fledged mid-day meal programme for all panchayat and government-run primary schools in Tamil Nadu in 1956-57.
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Current Affairs Today (AffairsCloud Today)
Current Affairs 29 August 2023 |
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MoD Signs to Acquire Five Indigenously Built FSS from HSL Worthing 19,000 Crore |
Ministry of Jal Shakti Releases Report on 6th Census on Minor Irrigation Schemes |
Highlights of PM Narendra Modi visit to SA for 15th BRICS Summit; BRICS officially expands from 5 to 11 members |
Overview of PM Modi Visit to Greece: Modi Honoured with Grecee’s Grand Cross of the Order of Honour |
Ex BRIGHT STAR-23: Maiden Multilateral Exercise of IAF Held in Egypt from August 27 to September 16, 2023 |
Govt of Canada Hosted 7th Assembly of the Global Environment Facility from August 22-26, 2023 in Vancouver, Canada |
DBS Bank and Maptrasco Partnered to Complete First Live eBL Transaction Between India & Singapore |
Yes Bank Partnered with Zaggle to Launch Corporate Credit Card |
LIC tied up with Saraswat Cooperative Bank to sell LIC Products under Bancassurance |
Emmerson Mnangagwa Re-Elected As President As The Second Term |
GRSE Signs MoU with DEMPO Group For Building Commercial Ships |
Kunlavut Vitidsarn Wins Men’s Singles Title at the BWF World Championships 2023 |
Neeraj Chopra Wins Gold Medal in the World Athletics Championships 2023 |
Eminent Indian English Poet Jayanta Mahapatra Passed Away |
TN CM Stalin Launches Expansion of Breakfast Scheme for all TN govt School Students |
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