Daily Current Affairs August 26 2023 | Latest News | Download PDF

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CURRENT AFFAIRS: NATIONAL NEWS

Launch of Invoice Incentive Scheme “Mera Bill Mera Adhikaar” from 1st September 2023 by Central Government

• The Government of India, in association with State Governments, is launching an ‘Invoice incentive Scheme’ by the name ‘Mera Bill Mera Adhikaar’ to encourage the culture of customers asking for invoices/bills for all purchases.
• The objective of the scheme is to bring a cultural and behavioural change in the general public to ‘Ask for a Bill’ as their right and entitlement.

The details of the Scheme are as under:

• The Scheme will be launched on 1st September 2023.
• This scheme will initially be launched as a pilot in the States of Assam, Gujarat & Haryana and UTs of Puducherry, Dadra Nagar Haveli and Daman & Diu.
• All B2C invoices issued by GST-registered suppliers (registered in the States of Assam, Gujarat & Haryana and UTs of Puducherry, Dadra Nagar Haveli and Daman & Diu) to consumers will be eligible for the scheme. The minimum value for invoices to be considered for a lucky draw has been kept at Rs. 200.
• Invoices can be uploaded on the Mobile Application ‘Mera Bill Mera Adhikaar’ available on IOS and Android as well as on the web portal ‘web.merabill.gst.gov.in’
• All residents of India will be eligible to participate in this Scheme irrespective of their State/UT. A maximum of 25 invoices can be uploaded by an individual on App/web portal in a month to be considered for the lucky draw.

Shri Amit Shah inaugurates the two-day National Security Strategies Conference-2023, in New Delhi

• Prime Minister Shri Narendra Modi, the Government of India is committed to ensure a safe and secure nation by strengthening all aspects of national security mechanisms.
• In pursuance of this, Union Home Minister Shri Amit Shah inaugurated the two-day National Security Strategies (NSS) Conference-2023, in New Delhi
• A total of more than 750 participants, including officers working at cutting edge and subject experts, joined the Conference from across the country, in a combination of physical and virtual modes.
• Among those who attended the Conference in Delhi were the two Ministers of State in MHA and top officers involved in managing national security issues, including the Union Home Secretary, Deputy NSAs, DGsP/IGsP of all States/UTs and CAPFs. Prior to the commencement of the Conference, Union Home Minister Shri Amit Shah paid homage by laying a wreath at the Martyrs Column, erected in the memory of those anonymous martyrs, who laid down their lives in the line of duty.
• The Home Minister reiterated the Government’s commitment to tackle the menace of drug trafficking, besides other issues relating to the security of the citizens and India.
• Appreciating the work done by different agencies in this area, he urged all the states and agencies to continue taking strong action against the drug dealers and networks.

Third International Conference on Structural Integrity inaugurated at Mamallapuram

• The Third International Conference on Structural Integrity (ICONS 2023) was inaugurated at Mamallapuram, Tamil Nadu virtually by Dr. N Kailaiselvi, Director General, Council of Scientific & Industrial Research & Secretary, Department of Scientific and Industrial Research.
• ICONS 2023 is jointly organized by the Indira Gandhi Centre for Atomic Research, Kalpakkam and the Society for Failure Analysis, in association with the Indian Institute of Technology Madras, Indian Society for Non-destructive Testing, Kalpakkam Chapter, Indian Institute of Metals Kalpakkam Chapter and Indian Structural Integrity Society.
• Kalaiselvi, during her inaugural speech, she has highlighted the degradation of structures of the power plant, petrochemical industries and iconic structures of India due to global warming.
• ICONS 2023 is attended by around 250 delegates from India and abroad comprising mechanical engineers, materials scientists, academicians, industry experts, plant managers and regulatory personnel.
• The conference will be deliberating on various topics related to recent developments and future directions in assessing and ensuring structural integrity of structures and operating equipment in nuclear, defence, aerospace, chemical and oil industries.
• About 35 invited lectures by leading experts in the field and about 200 contributory papers are to be presented in the next two days of the conference.

Pune Military College Becomes India’s First Carbon-Negative Garrison

• PUNE-based College of Military Engineering (CME) with the commissioning of a 5-megawatt (MW) solar power plant taking its solar power generation capacity to 7 MW has become India’s first carbon-negative garrison or military formation.
• The CME, which was established in 1948 as a premier institute of the armed forces, trains all ranks of the Indian Army, Navy and Air Force, including those from friendly foreign countries in various technical and tactical aspects with changing character of warfare.
• A plethora of projects have been undertaken in the recent past at CME by the Military Engineering Services (MES) through the office of Garrison Engineer (CME), Khadki, in order to reduce the institute’s carbon footprint.
• The biggest project is the implementation of the 7-MW solar power plant in CME in two phases, apart from multiple important pilot projects such as solar steam cooking plants for community cooking for troops at CME and installation of Retrofitting Emission Control Devices (RECDs) on diesel generator sets to curb emissions.

CURRENT AFFAIRS: STATE NEWS

Tamilnadu Government Begins Breakfast Scheme in 31 thousand Schools

• Tamilnadu Government began the breakfast Scheme in 31 thousand schools. More than 17 lakh students studying first to fifth standard will benefit from it.
• State Chief Minister K.Stalin inaugurated the program at a Panchayat School in Thirukkuvalai, Nagapattinam district.
• State Ministers, Members of Parliament and Assembly inaugurated the scheme throughout all the districts.
• The scheme was initially launched to provide breakfast to over one lakh students in 1545 Government primary schools but now it has been extended to all the State Government schools.
• Tamilnadu already had the noon meal scheme since 1956.
• The scope of the scheme is to increase the enrollment of children in Government schools.
• After the introduction of the breakfast scheme last year, attendance improved by 40 percent.
• The breakfast will be provided on all school days and the menu has 13 types of food items in it.

Meri Mati Mera Desh: Gujarat CM launches online platform for Panchayati Raj institutions

• To ensure transparency, the Gujarat government launched a new software that will make online payment compulsory for Panchayati Raj institutions in the state, ending the practice of cheque payment to contractors and vendors.
• Chief Minister Bhupendra Patel launched the Panchayati Raj Accounting Information System Automation, or PRAISA, at a state-level programme of ‘Meri Mati Mera Desh’ in Gandhinagar.
• PRAISA will make the administration of the state Panchayats Department paperless and more effective as financial and accounting transactions of all the 33 districts and 248 taluka panchayats will be handled through this online platform.
• From now onwards, financial transactions worth Rs 34,000 crore of these Panchayati Raj institutions, local self-governed bodies, will be handled in a transparent manner through PRAISA.

CURRENT AFFAIRS: BUSINESS NEWS

IRDAI cuts capital for foreign reinsurance branches for Rs 50 crores

• The Insurance Regulatory and Development Authority of India (IRDAI) has slashed the minimum capital requirement for foreign reinsurance branches (FRBs) from Rs 100 crores to Rs 50 crores with the provision to repatriate any excess assigned capital.
• The format for reinsurance programmes has been simplified, and regulatory reporting requirements have been rationalized for increased clarity and effectiveness.
• A critical aspect of these amendments is their alignment with the broader goal of positioning India as a global reinsurance hub.
• The key focus areas of these amendments revolve around several crucial aspects.
• Firstly, there is a concerted effort to increase the overall capacity of the reinsurance sector, which can help accommodate growing demand and manage larger risks. Additionally, these amendments seek to enhance technical expertise within the industry, fostering an environment of excellence and innovation.
• The order of preference in giving business to reinsurers, previously spanning six levels, has been streamlined to four levels.
• By working in tandem with the International Financial Services Centres Authority (IFSCA), IRDAI aims to cultivate an environment conducive to the growth of reinsurance activities, both within and outside the conventional Indian market

CURRENT AFFAIRS: AWARDS AND HONOURS

69th National Film Awards for the year 2021 announce; Rocketry: The Nambi Effect bags Best Feature Film

• The Jury for the 69th National Film Awards announced the winners for the year 2021.
• The Jury comprised eminent filmmakers and film personalities across the Indian cine-world.

• The awards were announced by Sh. Ketan Mehta, Chairperson, Feature Films Jury, Sh. Vasanth S Sai, Chairperson, Non-feature Films Jury, Sh. Yatindra Mishra, Best Writing on Cinema Jury in presence of Ms. Neerja Sekhar, Additional Secretary, Ministry of Information and Broadcasting.
• The Best feature film award has been given to Rocketry: The Nambi Effect and the Best Non-Feature Film has been bagged by Ek Tha Gaon directed by Srishti Lakhera.
• The Kashmir Files has been awarded with Nargis Dutt Award for Best Feature Film on National Integration, while RRR has bagged the Award for Best Popular Film Providing Wholesome Entertainment.

Award for Best Book on Cinema:

CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATION

Tennis icon Rafael Nadal is Infosys’ brand ambassador

• Infosys has roped in tennis icon Rafael Nadal as an ambassador for the Infosys brand and its Digital Innovation.
• As the digital innovation partner for the ATP (Association of Tennis Professionals) Tour, Roland-Garros, Australian Open, and The International Tennis Hall of Fame, brand Infosys has helped reimagine the tennis ecosystem for a billion fans globally leveraging AI, cloud, data analytics and digital experiences, said a company communique.
• Infosys has pioneered video and stats analysis platforms for players and coaches to revolutionise training, bolstered match analysis with AI-assisted journalism platforms for broadcasters to post engaging content and introduced new ways for fans to engage with the game, it claimed.
• Infosys has transformed the tennis experience for a billion global fans and truly empowered all players on the tour with analytics that they could have only dreamt of a few years ago.

CURRENT AFFAIRS: DEFENCE NEWS

DAC approves proposals worth Rs 7,800 crores to enhance operational capabilities of the Armed Forces

• A Defence Acquisition Council (DAC) meeting, held under the chairmanship of Raksha Mantri Shri Rajnath Singh, accorded Acceptance of Necessity (AoN) for capital acquisition proposals worth approximately Rs 7,800 crores.
• To enhance the efficiency of the Indian Air Force, the DAC has granted AoN for procurement and installation of Electronic Warfare (EW) Suite on Mi-17 V5 Helicopters under the Buy (Indian-IDDM) category which will enhance better survivability of Helicopters.
• The EW Suite will be procured from Bharat Electronics Limited (BEL).
• The DAC has also accorded AoN for procurement of a Ground-Based Autonomous System for mechanised infantry and armoured regiments which will enable various operations like unmanned surveillance, logistic delivery of ammunition, fuel & and spares and casualty evacuation on the battlefield.
• Proposals for procurement of a 7.62×51 mm Light Machine Gun (LMG) and Bridge Laying Tank (BLT) have also been given go-ahead by the DAC.
• While induction of LMG will enhance the fighting capabilities of infantry forces, the induction of BLT will result in faster movement of Mechanised Forces.
• The AoN for procurement of Ruggedised Laptops and Tablets for the Indian Army under Project Shakti has also been accorded.

Indian Navy’s INS Visakhapatnam concluded a successful visit to Kuwait

• In a bid to reinforce maritime collaboration and foster stronger ties, the Indian Navy’s INS Visakhapatnam recently concluded a successful visit to Kuwait.
• The visit aimed to enhance cooperation and exchange best practices between the two nations’ naval forces.
• During the visit, professional interactions took place between INS Visakhapatnam and the Kuwait Navy, encompassing various domains of maritime operations.
• Valuable insights and best practices were shared, signifying a commitment to mutual growth and expertise exchange.
• INS Visakhapatnam made an entry into Al-Shuwaikh Port, Kuwait, garnering a warm reception led by Brigadier General Mohammed Al-Oraifi, Head of Training of the Kuwaiti Naval Force.
• This hearty welcome underscored the amicable ties between the two nations’ naval forces and highlighted the significance of their cooperation.
• Prior to its Kuwait visit, INS Visakhapatnam had also visited the Kingdom of Bahrain and the United Arab Emirates, demonstrating India’s proactive engagement in strengthening regional partnerships and promoting maritime security.

CURRENT AFFAIRS: MOUS AND AGREEMENT

NHPC and APGENCO join hands for implementation of Pumped Storage Hydropower Projects and other Renewable Energy Projects in Andhra Pradesh

• NHPC Limited, India’s premier hydropower company, has signed a Memorandum of Understanding with Andhra Pradesh Power Generation Corporation (APGENCO) Limited (an undertaking of the Government of Andhra Pradesh) for the implementation of Pumped Hydro Storage Projects and Renewable Energy Projects in the state of Andhra Pradesh.
• In the first phase, the MoU envisages the implementation of two identified Pumped Hydro Storage Projects with a total capacity of 1,950 MW.
• These projects are Kamlapadu (950 MW) and Yaganti (1,000 MW).
• The implementation of these projects is expected to create significant employment opportunities and boost the local economy in the region.
• The projects will be implemented under Joint Venture mode.
• The MoU was signed in Tadepalli, Guntur, Andhra Pradesh on 23rd August 2023, in the presence of Chief Minister of Andhra Pradesh Shri Y. S. Jagan Mohan Reddy.
• The agreement was signed by the Director (Finance), NHPC, Shri R.P. Goyal and Managing Director, APGENCO, Shri K. V. N. Chakradhar Babu, in the presence of other officers of both organizations.

CURRENT AFFAIRS: RANKING AND REPORTS

ICICI Prudential Life has the Best ESG Rating amongst the Indian Listed Insurance Companies

• ICICI Prudential Life Insurance has focused initiatives in place for each dimension of the ESG framework under the Environment (Transitioning towards Green and Sustainable Operations), Social (Empowering Employees, Adopting Customer Centricity, and Helping Communities) and Governance (Enabling Robust Governance Structure and Effectively Managing Risks) pillars.
• As a result of these initiatives, ICICI Prudential Life Insurance received an ESG Risk Rating of 16.9 and was assessed by Sustainalytics to be at Low risk of experiencing material financial impact arising from ESG factors.
• ICICI Prudential Life Insurance has received a rating of A (on a scale of AAA-CCC) in the MSCI ESG Ratings assessment.
• The Company believes sustainability is intrinsic to life insurance as the Company serves long-term savings and protection needs.
• ICICI Prudential Life Insurance is committed to integrating sustainability with its business processes and as a way of doing business.
• They have been making significant progress since we commenced their ESG journey in 2020.
• This year they expanded the terms of reference of their Board CSR Committee to include a review of sustainability activities and key ESG-related disclosures.
• 3 pillars of the Company’s sustainability framework
  • Environmental – Leaving the planet a better place for the next generation
  • Social – Giving back to society
  • Governance – Transparency in functioning

Amul ranked the world’s strongest dairy brand, second strongest food brand in the world

• Amul has been ranked as the world’s strongest dairy brand by the Brand Finance Food and Drink Report 2023.
• The report evaluates and ranks the strongest and most valuable food, dairy, and non-alcoholic beverage brands.
• The report, conducted by UK-based Brand Finance, the world’s leading brand valuation consultancy, affirms Amul’s unwavering commitment to quality, innovation, and consumer trust.
• Amul has not only been ranked as the strongest dairy brand globally but also the second-strongest food brand worldwide, trailing only behind the renowned American chocolate brand, Hershey.
• The Amul brand has also been ranked among the top 30 most valuable food brands out of 5000 brands in the world.
• Amul proudly stands as the only farmer-owned brand among the world’s top 100 brands.
• Amul has also secured the seventh spot on the list of the world’s most valuable dairy brands, with an impressive valuation of $3 billion.
• As the sole representative from India on this prestigious list, Amul continues to make the country proud on the international stage.
• The report also reaffirms Amul’s commitment to sustainability and responsible practices by ranking it as seventh in terms of Sustainability Perception Values (SPV).

About Amul:

• Amul is the largest FMCG brand in India with an annual sales turnover of Rs 72,000 crores (US $ 9 billion) and an outstanding example of the power of the farmer’s cooperative movement. It was born in 1946, before India gained freedom, and marked its 75th anniversary recently.

CURRENT AFFAIRS: SPORTS NEWS

Rajeshwari Kumari secures another shooting spot for India in Paris 2024 Olympics

• In shooting, Rajeshwari Kumari has secured another shooting spot for India in the Paris 2024 Olympics.
• She finished fifth in the women’s trap final at the ISSF World Championship 2023 in Baku, Azerbaijan, and won India’s first spot in the women’s trap
• The ISSF World Championship 2023 serves as a qualifying event for the Paris Olympics 2024.
• The best four finishers, one from each country, in each of the 12 Olympic individual shooting events receive a seat on their national teams, giving a total of 48 shooters.

India’s R. Praggnanandhaa settles for silver after losing to Magnus Carlsen of Norway in the World Cup final 2023

• In Chess, Magnus Carlsen of Norway beat India’s R. Praggnanandhaa in tie-breaks to win the FIDE Chess World Cup 2023 title at Baku in Azerbaijan.
• In the final, Carlsen won the World Cup after drawing the second tie-break against Praggnanandhaa.
• Final score was Carlsen 1.5 and Praggnanandhaa 0.5. While Carlsen got Gold, Praggnanandhaa bagged silver.
• Magnus Carlsen finally managed to win the FIDE World Cup for the first time in his career.
• He defeated India’s Praggnanandhaa in the final, but not before the 18-year-old teenage prodigy had dragged him through the tie-breaker.
• Carlsen’s win was confirmed after the second game of the tiebreaker.
• Regardless of the final loss, the FIDE World Cup has been an event to savour for the teenager from Chennai since he also sealed a spot at the prestigious Candidates Tournament, which is held to find a challenger for world champion Ding Liren at the next world chess championship battle.
• Pragg, who turned 18 during the World Cup, was the youngest World Cup finalist ever and is the youngest World Cup winner.
• Pragg is also the lowest seed to make the final of the World Cup.
• Praggnanandhaa etched his name in the history books of Indian chess.
• He had become the first Indian after Viswanathan Anand to reach the final and was a victory away from joining the Indian legend at the top.

CURRENT AFFAIRS: IMPORTANT DAYS

Women’s Equality Day 2023 – August 26

• Women’s Equality Day is observed on August 26 every year to commemorate the right of women to vote in the United States.
• This year’s (2023) theme for Women’s Equality Day is #EmbraceEquity.
• Before the Civil War in the United States, the movement for women’s suffrage started.
• Most States in the U.S. by the 1830s had extended voting rights from rich white male property owners to just white men regardless of how much property they owned.
• The observance of Women’s Equality Day not only commemorates the passage of the 19th Amendment but also calls attention to women’s continuing efforts toward full equality.
• During Women’s Equality Day the women of the United States are to be commended and supported in their organizations and activities.

Daily CA One- Liner: August 26

• The Insurance Regulatory and Development Authority of India (IRDAI) has slashed the minimum capital requirement for foreign reinsurance branches (FRBs) from Rs 100 crores to Rs 50 crores with the provision to repatriate any excess assigned capital.
• The Government of India, in association with State Governments, is launching an ‘Invoice incentive Scheme’ by the name ‘Mera Bill Mera Adhikaar’ to encourage the culture of customers asking for invoices/bills for all purchases.
• Union Home Minister Shri Amit Shah inaugurated the two-day National Security Strategies (NSS) Conference-2023, in New Delhi.
• The Third International Conference on Structural Integrity (ICONS 2023) was inaugurated at Mamallapuram, Tamil Nadu virtually by Dr. N Kailaiselvi.
• PUNE-based College of Military Engineering (CME) with the commissioning of a 5-megawatt (MW) solar power plant — taking its solar power generation capacity to 7 MW — it has become India’s first carbon negative garrison or military formation.
• Tamilnadu Government began the breakfast Scheme in 31 thousand schools. More than 17 lakh students studying first to fifth standard will benefit from it.
• To ensure transparency, the Gujarat government launched a new software that will make online payment compulsory for Panchayati Raj institutions in the state, ending the practice of cheque payment to contractors and vendors.
• The Jury for the 69th National Film Awards announced the winners for the year 2021.
• Infosys has roped in tennis icon Rafael Nadal as an ambassador for the brand Infosys and its Digital Innovation.
• A Defence Acquisition Council (DAC) meeting, held under the chairmanship of Raksha Mantri Shri Rajnath Singh, accorded Acceptance of Necessity (AoN) for capital acquisition proposals worth approximately Rs 7,800 crore.
• In a bid to reinforce maritime collaboration and foster stronger ties, the Indian Navy’s INS Visakhapatnam recently concluded a successful visit to Kuwait.
• NHPC Limited, India’s premier hydropower company, has signed a Memorandum of Understanding with Andhra Pradesh Power Generation Corporation (APGENCO) Limited (an undertaking of the Government of Andhra Pradesh) for the implementation of Pumped Hydro Storage Projects and Renewable Energy Projects in the state of Andhra Pradesh.
• ICICI Prudential Life Insurance has focused initiatives in place for each dimension of the ESG framework under the Environment (Transitioning towards Green and Sustainable Operations), Social (Empowering Employees, Adopting Customer Centricity, and Helping Communities) and Governance (Enabling Robust Governance Structure and Effectively Managing Risks) pillars.
• Amul has been ranked as the world’s strongest dairy brand by the Brand Finance Food and Drink Report
• In shooting, Rajeshwari Kumari has secured another shooting spot for India in the Paris 2024 Olympics.
• In Chess, Magnus Carlsen of Norway beat India’s R. Praggnanandhaa in tie-breaks to win the title of the FIDE Chess World Cup 2023 at Baku in Azerbaijan.
• Women’s Equality Day is observed on August 26 every year to commemorate the right of women to vote in the United States

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