Current Affairs 4 August 2023

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NATIONAL AFFAIRS

FICCI-EY Report:India Loses 1.5 Million lives in Road Crashes
According to the Federation of Indian Chambers of Commerce and Industry (FICCI) -EY a report titled ‘Road Safety in India – Navigating through nuances‘, Road accidents claim around 1.5 million lives in India every year.  India accounts for 11% of all road crash deaths and tops the world in road crash deaths and injuries.
i.It states that in every 24 seconds, at least one person is lost due to a traffic accident worldwide.
ii.India has signed the Brasilia Declaration in 2015, which seeks to reduce global road traffic fatalities and injuries by half by 2030.
About Federation of Indian Chambers of Commerce and Industry (FICCI):
President – Subhrakant Panda
Headquarters – New Delhi, Delhi
Establishment – 1927
>> Read Full News

IMD launched Heat Index indicating the Feel like TemperatureIn July 2023, the India Meteorological Department (IMD) launched the Heat Index on an experimental basis. This information was provided by the Union Minister Kiren Rijiju, Ministry of Earth Sciences (MoES) in a written reply in the Rajya Sabha.
What is heat index?
The heat index measures how hot it feels by considering both the air temperature and relative humidity. It offers guidance for regions in India, indicating the apparent temperature/feel like temperature to show the potential discomfort for people caused by weather conditions, along with the day’s minimum and maximum temperatures.
Aim:
To provide information on the effect of humidity on high temperatures
Colour codes used for Experimental Heat Index are as follows:

• Green: – Experimental heat Index less than 35 degree C
• Yellow: – Experimental heat Index in the range 36-45 degree C
• Orange: – Experimental heat Index in the range 46-55 degree C
• Red: – Experimental heat Index greater than 55 degree C

Key Points:
i.The heat index in India is calculated similarly to the National Weather Service, and the National Oceanic and Atmospheric Administration (NOAA) in the United States (US)
ii.It offers guidance on taking extra precautions to minimize discomfort.
iii.IMD uses temperature and humidity data at 2:30 pm to calculate the heat index and forecasts the maximum temperature at that time.
iv.A heatwave is declared if maximum temperature of a station reaches at least
40 degree C or more and is 4.5 degrees above normal for the day for Plains and at least 30 degree C or more for Hilly regions.

• A severe heatwave is declared when the temperature is above 40 degrees Celsius and 6.5 degrees above normal.
• A heat wave is a condition of air temperature which becomes fatal to human body when exposed.

About India Meteorological Department (IMD):
Director General– Dr. Mrutyunjay Mohapatra
Headquarter– New Delhi, Delhi
Establishment– 1875

India Unveils Ayush Visa Category: For Foreign Nationals seeking Traditional Medicine TreatmentOn August 2, 2023, Ministry of Home Affairs (MHA) introduced a new Ayush (AY) visa for foreign nationals for treatment under Ayush systems/Indian systems of medicine like therapeutic care, wellness and Yoga.

• With  this, a new chapter i.e. chapter 11A – Ayush Visa has been incorporated after Chapter 11 – Medical visa of the Visa Manual, which deals with treatment under the Indian systems of medicine and accordingly necessary amendments has been made in various chapters of the Visa Manual, 2019.
• AYUSH is an acronym for Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy.

Key Points:
i.The Ayush Visa aims to attract foreigners who wish to undergo Ayush therapy, wellness, and Yoga in India.
ii.The introduction of this visa aligns with Prime Minister (PM) Narendra Modi’s announcement at the at Global Ayush Investment and Innovation Summit (GAIIS) in Gandhinagar, Gujarat in April 2022.
iii.This will boost Medical Value Travel in India, and also stregthen the vision of making Indian traditional medicine a global phenomenon.
iv.Ministry of AYUSH and the Ministry of Health & Family Welfare (MOHFW) are collaborating to develop a one stop Heal in India portal to promote India as a global Medical tourism destination.

• Ministry of AYUSH is promoting Ayush system of treatment national and globally. Recently, it signed a Memorandum of Understanding (MoU) with India Tourism Development Corporation (ITDC), Ministry of Tourism, GoI for the promotion of Medical Value Travel in Ayurveda and other traditional systems of medicine.

v.As per the report ‘The Global Wellness Economy: Looking beyond COVID’ by the Global Wellness Institute (GWI), the Global Wellness economy will grow at 9.9% annually.

• Ayush based healthcare & Wellness economy is estimated to grow to $70 billion by 2025.

MoHFW sets deadline for Pharma MSMEs to Adopt Good Manufacturing Practicesi.On August 2, 2023, the Union Minister Mansukh Mandaviya, Ministry of Health and Family Welfare (MoHFW) has made it mandatory for all Micro, Small & Medium Enterprises
(MSMEs) drugmakers/pharma companies with an annual turnover of over Rs 250 crore to adopt Good Manufacturing Practices (GMP) within six months starting August 1, 2023.
ii.Companies with a turnover of less than Rs 250 crore can complete the process in 1 year.
iii.The adoption will be made by implementing the revised Schedule M of the Drugs and Cosmetics Act, 1940. It should be noted that World Health Organisation (WHO)-GMP standards are now a part of the revised Schedule M.
About World Health Organization (WHO):
Director-General– Dr Tedros Adhanom Ghebreyesus
Headquarters– Geneva, Switzerland
Establishment– 1948
>> Read Full News

Ministry of Finance Launches Vivad Se Vishwas-2 Scheme To Settle Contractual DisputesOn 2nd August 2023, the Department of Expenditure, Ministry of Finance (MOF), launched the scheme, Vivad se Vishwas II – (Contractual Disputes), to settle the pending contractual disputes of government and government undertakings.

• The scheme was announced in the Union Budget 2023-24 by the Union Finance Minister, Nirmala Sitharaman.

The scheme aims to promote ease of doing business and will cover disputes up to September 30, 2022, clear the backlog of litigation, and also resolves the government’s contractual disputes with private parties.
Key points:
i.The deadline for submitting claims under the scheme is 31st October 2023
ii.Application for settlement are to be made by the contractors through the Government e-Marketplace (GeM) portal.
iii.The Scheme is valid from 15 July to 31 October 2023.
Eligibility Criteria: 
i.The scheme is applicable to domestic contractual disputes involving the Government of India or organizations under its control.
ii.Disputes with arbitral awards issued up to 31st January 2023 and court awards passed up to 30th April 2023 are eligible for settlement.
iii.Eligible claims shall be processed only through GeM. For non-GeM contracts of Ministry of Railways, contractors may register their claims on IREPS (www.ireps.gov.in).
Settlement Offers:
i.Contractors will be offered settlement amounts based on the net amount awarded or upheld by the court.
ii.For court awards passed on or before 30th April 2023, the settlement amount can go up to 85% of the net amount.
iii.For arbitral awards passed on or before 31st January 2023, the settlement amount can go up to 65% of the net amount awarded

ISLRTC and NIOS Signed an MoU to Promote ISL
On 29th July 2023, Indian Sign Language Research and Training Center (ISLRTC) signed a Memorandum of understanding (MOU) with National Institute of Open Schooling (NIOS) to promote Indian Sign Language (ISL) and collaborate on standardization and development of quality learning resources during the 3rd year of National Education Policy (NEP) 2020 celebrations and 2nd Akhil Bharatiya Shiksha Sangam at India Trade Promotion Organisation (ITPO), Pragati Maidan, New Delhi, Delhi.

• Under the MoU, ISLRTC and NIOS have planned to work on designing and developing a process of review of learning content in ISL, and developing a smooth strategy for examination and evaluation of deaf and hard of hearing.

The expertise and resources of ISLRTC will be deployed for the standardization process of ISL in selected areas.
Note: NIOS introduced ISL as a language subject at the secondary level in 2021. ISLRTC has contributed by developing the processes for the examination and evaluation of children with hearing impairment.

NHPC and ALIMCO Signed MoU for Providing Aids & Assistive Devices to Divyangjans
On 1st August 2023, the National Hydroelectric Power Commission (NHPC) signed a Memorandum of Understanding (MoU) with the Artificial Limbs Manufacturing Corporation of India (ALIMCO) functioning under Department of Empowerment of Persons with Disabilities,Ministry of Social Justice & Empowerment(MSJE) to provide aids and assistive devices to 1000 Divyangjans (Persons with Disabilities) in close proximity to NHPC projects in states in the north and north east.

• The MoU was signed under the Corporate Social Responsibility (CSR) initiative of the NHPC at the NHPC Corporate Office, Faridabad, Haryana.

The agreement was signed by the NHPC Deputy General Manager (HR), CSR & SD, NHPC, and the General Manager-Marketing, ALIMCO.

AIIMS Signed MoU with IREDA for Solarization in AIIMS New Delhi Campus
On 1st August 2023, the Indian Renewable Energy Development Agency Ltd. (IREDA) and All India Institute of Medical Sciences (AIIMS), New Delhi (Delhi) signed a Memorandum of Understanding (MOU) to initiate the technical assessment for the solarisation of the AIIMS, New Delhi campus.

• The MoU was signed by Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA, and Dr. M Srinivas, Director of AIIMS at the AIIMS New Delhi Campus.

The partnership helps AIIMS institute to reduce its electricity expenditure while minimizing its carbon footprint with the help of IREDA.
Key points:
i.AIIMS has installed a 9 Kilowatt Rooftop Solar plant at its New Delhi campus.
ii.Under the MoU, IREDA will undertake a techno-commercial assessment of the AIIMS campus which includes creating financial models, conducting pre-feasibility studies, preparing a detailed project report (DPR), assisting in the analysis of technical and commercial aspects related to project development, finalizing commercial and contracting arrangements, and defining performance indicators, etc.

BANKING & FINANCE

RBI approves Amalgamation of Navanirman Co-op Urban Bank with Rajadhani Co-op Urban BankThe Reserve Bank of India (RBI) sanctioned the Scheme of Amalgamation of The Navanirman Co-operative Urban Bank Ltd., Hyderabad, Telangana with Rajadhani Co-op. Urban Bank Ltd., Hyderabad, Telangana. The Scheme of Amalgamation is with effect from August 3rd, 2023.

• The Navanirman Co-operative Urban Bank Ltd branch (Hyderabad, Telangana) will function as a branch of the Rajadhani Co-op. Urban Bank Ltd (Hyderabad, Telangana) with effect from August 03, 2023.
• The Scheme has been sanctioned in the exercise of the powers conferred under Sub-Section (4) of Section 44A read with Section 56 of the Banking Regulation Act, 1949.

Key Points:
i.Banking Regulation Act, 1949 an Act that provides a framework for regulating the banks of India.
ii.The Act was originally passed as the Banking Companies Act 1949 and came into force on 16th March 1949.
iii.This Act gives RBI the power to control the banks in India.  It did not apply to Jammu and Kashmir until 1956.
iv.The Banking Regulation (Amendment) Ordinance, 2020 was promulgated on June 26, 2020. The Ordinance seeks to amend the Banking Regulation Act, 1949.
About Reserve Bank of India (RBI):
Governor– Shaktikanta Das
Deputy Governors – J. Swaminathan, T. Rabi Sankar, M. Rajeshwar Rao, Dr. M.D. Patra
Headquarters– Mumbai, Maharashtra
Established in– 1st April 1935

Axis Bank Partners With Kiwi to Bolster ‘Credit on UPI’ on RuPay Credit CardsOn 2nd August 2023, Axis Bank, India’s third-largest private sector bank in collaboration with National Payment Corporation of India (NPCI), partnered for the first time with Kiwi, the revolutionary credit on Unified Payment Interface (UPI) platform to launch the Axis KWIK virtual credit card that offers credit card rewards along with the convenience of UPI’s fast and secure payment for seamless online and offline transactions.

• This functionality enables users to conduct merchant payments within the Kiwi app utilising their credit cards through UPI, resulting in a virtualized payment encounter that eliminates the necessity for physical cards.
• The partnership offers a complete “Credit on UPI” platform on the RuPay network.

Axis KWIK virtual credit card
i.The virtual credit card extends the advantage of receiving two edge rewards for every Rs. 200 spent.
ii.The Users are entitled to a 1% cashback on scan and pay transactions (when utilising the credit card on UPI), along with the benefit of having the usual 1% fuel surcharge at petrol pumps waived for card payments.
Reserve Bank of India(RBI)’s proposal:

• In the month of June 2023, Reserve Bank of India (RBI) announced a significant proposal to link credit cards with UPI platforms, with an initial focus on Rupay cards.
• The fusion of UPI with credit cards could potentially ignite a significant surge in credit card utilisation in India.

About Axis Bank Limited:
Managing Director(MD) & Chief Executive Officer(CEO) – Amitabh Chaudhry
Headquarters – Mumbai, Maharashtra
Established in – 1993
About Gokiwi Tech Private Limited
Co-founders – Siddharth Mehta, Mohit Bedi and Anup Agrawal
Headquarters – Bengaluru, Karnataka

SIDBI collaborates with IIM Ahmedabad’s CIIE.CO to Establish Accelerator Fund The Small Industries Development Bank of India (SIDBI), partnered with the Centre for Innovation, Incubation and Entrepreneurship (CIIE.CO), Indian Institutes of Management (IIM) Ahmedabad, Gujarat (IIM-A)’s startup incubator and investor, to set up a SIDBI Accelerator Fund, at IIMA’s CIIE.CO.

• The objective of establishing the Accelerator Fund is to provide support and extend seed investment to early-stage enterprises, especially for deep technologies start-ups in India.
• The partnership was formalised during an event at CIIE.CO, located in IIMA’s new campus in Gujarat.
• This collaboration is a part of SIDBI’s “India of Tomorrow” initiative, which intends to strengthen India’s developmental and funding ecosystem for early-stage start-ups.

Small Industries Development Bank of India (SIDBI) has participated as an anchor investor in the Promising Lenders Fund (PLF) managed by Vivriti Asset Management Private Limited (VAM), a part of Chennai (Tamil Nadu)-based Vivriti Group, with an aggregate target corpus of Rs. 700 crore in two tranches.
About Small Industries Development Bank of India (SIDBI):
SIDBI set up on 2nd April 1990 under an Act of the Indian Parliament.
It is under the jurisdiction of the Ministry of Finance, GoI.
It is the Principal Financial Institution for the Promotion, Financing, and Development of the Micro, Small, and Medium Enterprise (MSME)
CMD– Sivasubramanian Ramann
Headquarters– Lucknow, Uttar Pradesh
>> Read Full News

ECONOMY & BUSINESS

Karnataka Govt & IBC Signed MoU To Set Up Recyclable Lithium-Ion Battery Unit
On 1st August 2023, the Karnataka government and the United States (US)-based International Battery Company (IBC) signed a Memorandum of Understanding (MoU) to set up a recyclable Lithium-ion battery manufacturing unit with an investment of Rs 8,000 crores (USD 1 Billion) in Karnataka.

• The MoU was signed and exchanged by Venkatesh Valluri IBC President, IBC India Pvt. Ltd., and Dr Selvakumar, Principal Secretary for the Department of Commerce and Industries.

This will be 2nd Lithium-ion manufacturing facility in Karnataka. it is expected to be established on a 100-acre land at the Information Technology Investment Region (ITIR) at Devanahalli in the Bengaluru Rural district.

SCIENCE & TECHNOLOGY

SpaceX Falcon 9 launches Intelsat’s G-37/H-4 Telecommunications satellite to Geostationary OrbitOn 3rd August 2023, Space Exploration Technologies Corporation (SpaceX) launched the Intelsat Galaxy 37/Horizons-4 (G-37/H-4), satellite to a Geosynchronous Transfer Orbit (GTO) to provide advanced television broadcasting services over North America. The satellite was launched aboard Falcon 9 rocket from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station in Florida, the United States of America (USA).

• The Satellite was manufactured by Maxar Technologies Inc., a Space technology Company in the US.
• It was the 52nd Orbital launch for SpaceX in 2023 and the 6th launch for this particular Falcon 9 first-stage booster, which landed successfully on the ‘Just Read the Instructions’ drone ship stationed in the Atlantic Ocean.

Note: It previously launched SpaceX’s Crew-5 astronauts, the US Space Force’s Global Positioning System (GPS)III-6 Satellite, Inmarsat I6-F2, National Aeronautics and Space Administration (NASA)’s Commercial Resupply Services (CRS)-28 mission to the International Space Station (ISS), and one Starlink mission.
Testing Phase:
i.The satellite’s initial testing phase will occur over Hawaii (USA) at approximately 148 degrees west, after which it will reposition itself to 127 degrees west, situating it west of Seattle (USA).
ii.The testing process aims to ensure the reliability and performance of the satellite before it enters service, which is expected to be in early October 2023.

• After about 3 weeks of testing and maneuvers into a Geostationary orbit at about 35,500 kilometres above the equator.

Key Points:
i.The payload inside the rocket is the G-37/(H-4) communications satellite that will be jointly operated by Intelsat and JSAT International.
Note:

• Intelsat, S.A., is a leading provider of communication satellite services in the USA.
• JSAT International inc., a wholly-owned US subsidiary of SKY Perfect JSAT Corporation, the largest Japanese satellite operator with more than 17 satellites.

ii.The G-37/(H-4), destined for GTO is part of Intelsat’s “comprehensive Galaxy fleet refresh plan”, to bolster the C-band and Ku-band frequencies, respectively.
iii.The G-37/(H-4) satellite, weighing 5 metric tonnes, is equipped with 4 deployable antenna reflectors for C-band and Ku-band transmissions.
iv.The G-37 C-band payload will provide North American capacity for television media and telecommunication network customers.
v.The H-4 Ku-band payload will provide continuity for our mobility, network, and US government customers and is jointly owned by Intelsat and JSAT International.

• It also helps free up the path of the airwaves for 5G wireless communications service.

vi.The Falcon 9 upper stage placed the G-37 Satellite into a supersynchronous transfer, conserving the satellite’s onboard fuel which will be used to circularise and lower the orbit.
vii.The second stage exhausted its remaining propellant supplies to reach the best possible orbit before releasing the satellite about 32 minutes after launch.
Note: The Satellite is projected to remain operational for at least 18 years.

Bharat Dynamics Limited Hands Over 1st ‘Radio Frequency Seeker of Akash’ to DRDOOn 2nd August 2023, Bharat Dynamics Limited (BDL) has handed over the first Radio Frequency (RF) Seeker of the Akash Next Generation(Akash-NG) Missile to the Defence Research and Development Organization (DRDO).

• The 1st RF Seeker was handed over by Commodore A Madhavarao (Retired), Chairman and Managing Director of BDL to Dr Samir V Kamat, Secretary, Department of Defence Research & Development and Chairman DRDO.

About Seeker:
i.Seeker is a crucial and technologically advanced subsystem used in the terminal phase of Surface-to-Air Missiles and Air-to-Air Missiles for target tracking.
ii.The RF Seeker has been designed by DRDO’s Research Centre
Imarat,Vigyanakancha,Hyderabad, Telangana and produced by BDL at its state-of-the-art Seeker Facility Centre set up at BDL, Kanchanbagh Unit,Hyderabad.
iii.This achievement marks a significant advancement in India’s defence capabilities and underlines the country’s determination to becoming “Atma Nirbhar” in critical Defence Technologies.
About Akash Next Generation(Akash-NG) Missile:
i.Akash-NG Missile is the short-range mobile surface-to-air missile system (SRSAM) developed by DRDO.
ii.It has an Operation range of 4.5 km to 25 kmand can travel up to 2.5 times the speed of sound (2.5 Mach)
About Bharat Dynamics Limited (BDL):
BDL is a miniratna I Central Public Sector Enterprises (CPSE) under the Ministry of Defence, Government of India to be the manufacturing base for guided missile systems and allied equipment for the Indian Armed Forces.
Chairman and Managing Director – Retired Commodore A Madhavarao
Established – 1970
Headquarters – Hyderabad, Telangana

OBITUARY

Marathi Poet & Lyricist Namdeo Dhondo Mahanor Passed AwayOn 3rd August 2023, Marathi poet and lyricist Namdeo Dhondo Mahanor, popularly known as Na Dho Mahanor, passed away at the age of 81 in Pune, Maharashtra.

• He was born on 16th September 1942, in Palaskheda village, Aurangabad (now called Sambahajinagar), Maharashtra. Apart from writing, he had a passion in agriculture.
• Mahanor was elected to the Maharashtra Legislative Council (MLC) in 1978.

Notable works:
i.Jagala Prem Arpave, Ganga Wahu De Nirmal, Divelaganichi Vel, Ranatalya Kavita, Wahi, and Pavsali Kavita were just some of the popular poems and songs he composed.
ii.He prose includes short stories like Gapsap and Village Stories in addition to novels like Gandhari.
iii.He also wrote songs for Marathi movies like Ek Hota Vidushak, Jait Re Jait, Sarja and also published a collection of folk songs, Songs of Palasroad.
Awards & Honors:
i.He was honored with the Padma Shri award, the fourth-highest civilian honor of India, in 1991 for his contribution in the field of literature.
ii.He was also given the Sahitya Akademi Award for his contribution to Marathi poetry in 2000.
iii.He received the Krishi Bhushan in 1985, World Film Festival Lyricist Jeevan Gaurav Award in 2015, the Vanashree for his work in the watershed environment, and the Krishiratna Gold Medal for Meritorious Achievement in Agriculture.
iv.The government of Maharashtra recognized Mahanor’s literary contributions, honoring him with the Gadima Prize. 

IMPORTANT DAYS

World Wide Web Day 2023- 1st AugustWorld Wide Web Day is annually observed across the globe on 1st August to commemorate the introduction of the World Wide Web (WWW) and its impact on the world.
What is WWW?
i.WWW, also known as Web, is a collection of websites or web pages stored in web servers and connected to local computers through the internet.
ii.These websites contain text pages, digital images, audios, videos, etc.
iii.Users can access the content of these sites from any part of the world over the internet
Background: 
i.Tim Berners-Lee a British computer scientist, developed the WWW on 1 August 1989, which marked the beginning of the Internet, at the CERN center (the European Organisation for Nuclear Research) located in Geneva, Switzerland, as a way for him to interact with co-workers via hyperlinks.
ii.The world’s first website went live on 6th August 1991 which was hosted on Berners-Lee’s NeXT computer.

Earth Overshoot Day 2023- 2nd August Earth Overshoot Day (EOD) marks the date when humanity’s demand for ecological resources and services in a given year exceeds what Earth can regenerate in that year.

• Earth Overshoot Day 2023 falls on 2nd August. This means that humanity currently uses 75% more than what the planet’s ecosystems can regenerate.

i.Earth Overshoot Day 2022 was observed on 28th July.
ii.The first Earth Overshoot Day was calculated on 25th December 1971.
History
The concept of Earth Overshoot Day was first conceived by Andrew Simms of the United Kingdom(UK) think tank New Economics Foundation, which partnered with Global Footprint Network in 2006 to launch the first global Earth Overshoot Day campaign.

• Simms started the idea behind Earth Overshoot Day to understand the rate at which we are consuming our natural resources and how long we can sustain them.

World Wide Fund(WWF), the world’s largest conservation organization, has participated in Earth Overshoot Day since 2007.
Calculation of Earth Overshoot Day:
i.Earth Overshoot Day is hosted and calculated by Global Footprint Network, an international research organization that uses United Nations(UN) data to calculate the supply and demand for ecological categories.
ii.Earth Overshoot Day is computed by dividing the planet’s biocapacity (the amount of ecological resources Earth is able to generate that year), by humanity’s Ecological Footprint (humanity’s demand for that year), and multiplying by 365, the number of days in a year:
Earth’s Biocapacity / Humanity’s Ecological Footprint x 365 = Earth Overshoot Day.
About Global Footprint Network:
Chief executive officer (CEO)- Steven Tebbe
Headquarters- California, US
Established- 2003
>> Read Full News

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