Daily Current Affairs September 01 2023 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Bad Bank chairman Karnam Sekar resigns over disagreements in merger with IDRCL

• Karnam Sekar, the chairman of the National Asset Reconstruction Company of India (NARCL), commonly referred to as the Bad Bank, has resigned due to differences in the structure and functioning of the institution.
• National Asset Reconstruction Company of India (NARCL) Chairman Sekar resigned soon after a proposal for merging the public sector NARCL with India Debt Resolution Company Limited (IDRCL) was suggested.

Origin of Merger Proposal :

• The report notes that the proposal for the merging of two entities first came from IDRCL, headed by former State Bank of India (SBI) managing director (MD) Diwakar Gupta.
• It was suggested to the Finance Ministry that the two entities should be merged in order to optimize business opportunities and reduce costs.

Current Roles of NARCL and IDRCL :

• Under the current structure, NARCL, operating as the ‘principal entity,‘ undertakes the acquisition and consolidation of bad loan accounts from various banks.
• On the other hand, IDRCL functions as a resolution agent, specializing in the resolution process of distressed assets

What is a Bad Bank?

• A bad bank is a financial entity set up to buy Non-Performing Assets (NPAs), or Bad Loans, from banks.
• The aim of setting up a bad bank is to help ease the burden on banks by taking bad loans off their balance sheets and get them to lend again to customers without constraints.

About NARCL :

• Incorporated : July 2021 as a ‘bad bank’ to help dispose of the stressed assets of the commercial banks.
• Managing Director : N Sundar
• Public Sector Banks (PSBs) have a 51% ownership of NARCL.
• While FIs or debt management companies will hold 49%.

About IDRCL :

• The IDRCL is a service company or an operational entity, which will manage assets and loop in market professionals and turnaround experts.
• Public Sector Banks (PSBs) and Public FIs will hold a maximum of 49% stake and the rest will be with private sector lenders.

ADB approves Rs.3.32 crores for safe public transport projects in Hyderabad 

• A team of technology experts of Birla Institute of Technology & Science (BITS) Hyderabad, Telangana, Indian Institute of Technology ( IIT) Bombay, Maharashtra and IIT Kharagpur, West Bengal coordinated by Prasanta Sahu, has won Asian Development Bank’s grant of US$3.99 lakh (₹3.32 crore) to develop Technologies for Urban Transit to Enhance Mobility and Safe Accessibility (TUTEM) to develop, test, and implement it in the public transport systems of Hyderabad.
• The experts team were working on developing technology solutions to improve last-mile security for metro rail and public transit passengers under the guidance of Hyderabad Metro Rail Limited (HMRL) Managing Director (MD) NVS Reddy.
• The TUTEM inception workshop was held at BITS, Hyderabad Campus, with DGP Anjani Kumar as Chief Guest and MD, HMRL NVS Reddy as Guest of Honour.

Recent News :

• In Aug 2023, The Asian Development Bank (ADB) and Fourth Partner Energy Private Limited (Fourth Partner) an Independent Power Producer (IPP) signed a long-term loan of up to 2 billion Indian rupees (about $14.7 million) to construct and operate a 25-megawatt solar photovoltaic-based power plant to increase clean and low-cost energy supply to commercial and industrial customers.
• In Aug 2023, India in partnership with the Asian Development Bank (ADB) is set to open a climate change and health hub in New Delhi.

About ADB :

• Established : 19 December 1966
• Headquarters : Mandaluyong, Philippines
• President : Masatsugu Asakawa
• Membership : 68 countries

IIT Bombay partners with HSBC to support innovation-led green hydrogen initiatives

• The Indian Institute of Technology-Bombay (IIT-B) has partnered with Hong Kong and Shanghai Banking Corporation (HSBC) to pursue technological advancements towards making green hydrogen production more efficient, cost-effective, and
• The collaboration was inaugurated by Smt Nirmala Sitharaman, the Union Minister for Finance and Corporate Affairs, in Delhi on August 24, 2023.
• The focus will be on innovative projects that will help position green hydrogen as a strategic alternate fuel; help in building a robust, green hydrogen economy and achieve the government’s vision of an energy-independent nation.
• This partnership will help boost the government’s National Green Hydrogen Mission focused on providing policy support towards achieving global leadership in the green hydrogen transition.

Innovation in Green Hydrogen Programme :

• The partnership between IIT Bombay and HSBC will encourage researchers, scientists, and students across IITs to develop breakthrough technologies and solutions that address key challenges in green hydrogen production, storage, transportation, and utilisation.

Steering Committee and Proposal Evaluation :

• As part of this programme, IIT Bombay will invite project proposals, which will be evaluated by a steering committee comprising representatives from HSBC India, professors, and faculty members from multidisciplinary areas.

National Goals and Impact :

• According to the National Green Hydrogen Mission, by 2030, India hopes to develop green hydrogen production capacity of at least 5 MMT (million metric tons) per annum.
• This will lead to an addition of renewable energy capacity of about 125 GW in the country and help India reduce carbon dioxide emissions to achieve its net zero vision.

About Ministry of Electronics & IT :

• Cabinet Minister : Ashwini Vaishnaw
• Minister of State : Rajeev Chandrasekhar

IIT Bombay receives a donation of USD 18.6 million from alumni towards the establishment of the Green Energy & Sustainability Research Hub

• The Indian Institute of Technology (IIT) Bombay has received a donation of USD 18.6 million (over 153 crore) from an alumnus towards the establishment of a Green Energy and Sustainability Research Hub.
• This landmark contribution will redefine the Institute’s role in addressing the global climate crisis.
• The hub will be located within a state-of-the-art academic building on the IIT Bombay campus in suburban Powai and its focus will extend to critically important areas.

Key Highlights :

• The focused areas include evaluating climate risks and developing effective mitigation strategies, climate change adaptation, and comprehensive environmental monitoring.
• Additionally, the hub seeks to advance climate solutions, and foster the adoption of renewable energy sources and energy-efficient technologies.
• It will facilitate research in several critical areas, including battery technologies, solar photovoltaics, biofuels, clean-air science, flood forecasting, and carbon capture, among others.
• Furthermore, the hub will offer industry-tailored educational training and cultivate strategic collaborations with global universities and corporations.

CURRENT AFFAIRS: NATIONAL NEWS

Shri Jyotiraditya M Scindia inaugurates Utkela Airport, and direct flight between Utkela and Bhubaneshwar

• Minister of Civil Aviation, Shri Jyotiraditya M Scindia along with Gen. Vijay Kumar Singh (Rtd.) MoS, Ministry of Civil Aviation inaugurated Utkela Airport and a direct flight between Utkela and Bhubaneshwar.
• The event was conducted through video conferencing.
• Utkela Airport is owned by the Government of Odisha.
• It has been developed as a regional airport under the UDAN scheme of the Ministry of Civil Aviation, Government of India at a cost of 31.07 Cr.
• Utkela Airport has a runway of length 917 meters. (2,995 ft.) with a width of 30 meters.
• With the addition of Utkela Airport, Odisha will now have 5
• The newly inaugurated Utkela – Bhubaneswar – Utkela flight route will enhance regional air connectivity and play an important role in the economic development of the region.
• IndiaOne will be running the flights on this route from 31st August, 2023 onwards.
• The operator will be utilizing 9-seater Cessna C-208 aircraft sanctioned under the UDAN scheme.

Recent News

• Shri Jyotiraditya M Scindia, Minister of Civil Aviation and Steel inaugurated Heli Summit 2023 in Khajuraho, Madhya Pradesh & he also launched RCS UDAN 5.2 and HeliSewa-App during the event.
• Shri Jyotiraditya M Scindia, Minister for Civil Aviation and Steel inaugurated 3 Flight Training Organizations (FTO) in Khajuraho, Madhya Pradesh.

About Odisha : 

• Governor : Ganeshi Lal
• Chief Minister : Naveen Patnaik
• Capital : Bhubaneswar
• National Park : Simlipal National Park, Bhitarkanika National Park
• Wildlife Sanctuary : Ushakothi Wildlife Sanctuary, Tikarpada Wildlife Sanctuary

President Draupadi Murmu launches “Year of Positive Change” in Raipur

• President Draupadi Murmu launched the state-level program of “Year of Positive Change” at Prajapita Brahmakumari Ishwariya Vishwavidyalaya in Raipur, Chhattisgarh.
• Chhattisgarh Governor Biswabhusan Harichandan and Chief Minister Bhupesh Baghel were also present on the occasion.
• The President will attend the convocation ceremony of Guru Ghasidas Central University, Bilaspur.
• Apart from this, she will also meet the representatives of the primitive tribal community in Raipur.

Recent News

• Chhattisgarh-based Coal India subsidiary, South Eastern Coalfields (SECL), will invest 169 crores on a plantation in its operating States of Chhattisgarh and Madhya Pradesh during the next 5 years.
• Chhattisgarh Chief Minister (CM) Shri Bhupesh Baghel launched an ambitious rural housing scheme named Gramin Awas Nyay Yojana.
• The Chhattisgarh government has signed a Memorandum of Understanding (MoU) worth Rs 1,188.36 crore with Indian multinational product engineering company, Tata Technologies Limited to transform 36 government Industrial Training Institutes (ITIs) into an Industry 4.0 Technology Hub.

About Chhattisgarh :

• Governor: Biswabhusan Harichandan
• Chief Minister: Bhupesh Baghel
• Capital: Raipur
• National Park: Guru Ghasi Das (Sanjay) National Park, Kanger Valley National Park
• Wildlife Sanctuary: Achanakmar Wildlife Sanctuary, Barnawapara Wildlife Sanctuary

India will host the 1st edition of ‘Global IndiaAI 2023 ’ in October 2023

• The Ministry of Electronics and Information Technology (MeitY) will be organizing the Global IndiaAI 2023, scheduled for October 2023.
• There will be participation from leading AI players, researchers, startups, and investors in India and worldwide.
• The conference is poised to cover a wide spectrum of topics, including Next Generation Learning and Foundational AI models, AI applications in healthcare, governance, and next-gen electric vehicles, future AI research trends, AI computing systems, investment opportunities, and nurturing AI talent.
• Union Minister of State for Skill Development & Entrepreneurship and Electronics & IT, Shri Rajeev Chandrasekhar chairs the conference’s steering committee which is entrusted with the task of shaping the contours of the Global IndiaAI 2023.
• It draws members from MeitY’s Digital Economy Advisory group and other prominent leaders in the field of AI.

Key Highlights:

• The Global IndiaAI 2023 conference is tentatively planned for October 14/15, 2023 and it will bring together the best and brightest in AI from India and around the world.
• This summit is expected to evolve and become a must-attend event on the annual calendar of the Global AI industry, startups, practitioners, researchers and students.
• The huge success of the past 2 editions of the SemiconIndia conference by Prime Minister Shri Narendra Modi ji firmly put India on the global semicon map.
• This enabled India to become a catalyst for investments and growth within the sector.
• The Global IndiaAI summit will also catalyze India’s AI landscape and innovation ecosystem.

Recent News

• India hosts the 18th Session of the India – Iraq Joint Commission Meeting at New Delhi.
• India virtually hosted the 23rd Summit of the Shanghai Cooperation Organizations

BRICS+6 to control 30% of global GDP, 46% population – SBI Report

• The addition of 6 new members to the BRICS grouping will see it controlling 46% of the world’s population and 30% of its economic output.
• At the latest BRICS summit in Johannesburg, the present members — Brazil, Russia, India, China and South Africa decided to add Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates as new members of the grouping.
• The new members will become part of BRICS effective January 1, 2024.

Key Highlights

• The acronym BRICS was originally coined in 2001 by Goldman Sachs economists led by Jim O’Neill.
• Later in December 2010, South Africa was added as the 5th
• Currently, the 5-member grouping is home to 40% of the world’s population which controls 26% of the global Gross Domestic Product (GDP).
• But with the 6 new members (BRICS+6), their GDP share will jump to 30% and share of the population will go up to 46%.
• However, the biggest impact will be on the share of global oil production which will increase to 40% from the current 18%, while their oil intake share will jump from 27% to 36%.
• However, even after the new addition, China and India will continue to contribute 74% of the overall GDP of the grouping
• Currently, China controls 70% of the BRICS GDP while India’s share is 13%.
• This will fall to 62 and 12%, respectively, after the new members join.
• Brazil’s share will remain unchanged at 7%.
• BRICS+6 and G20 (Group of 20 largest economies) have their share in the global population at 3.7 billion and 5.1 billion, while that of GDP is USD 29.2 trillion and USD 70.4 trillion, and forex reserves at USD 5.5 trillion and USD 9.4 trillion, respectively.

Recent News :

• Algerian President, Abdelmadjid Tebboune informed that Algeria has applied to join the BRICS (Brazil, Russia, India, China and South Africa) group and submitted a request to become a shareholder member of BRICS Bank with an amount of $1.5 billion.

About BRICS :

• Headquarters : Shanghai, China
• Brazil, Russia, India, China, and South Africa make up the BRICS group of countries.
• It makes up around 26% of the world’s Gross Domestic Product (GDP) and more than 40% of the world’s population.

The Cabinet has approved a Rs. 5,000 crores PRIP scheme aimed at boosting research and innovation.

• The Union Cabinet has given the green light to the National Policy on Research and Development and Innovation in the Pharma-MedTech Sector.
• This decision is accompanied by the approval of the Scheme for Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP), with a substantial allocation of Rs 5,000 crore for a 5-year period spanning from FY24 to FY28.
• The scheme was rolled out earlier this month by the government with the belief that the Indian pharmaceutical industry has the potential to increase its current 3.4% share of the global market to 5% by the year

Key Highlights

• The National Policy focuses on 3 key areas: strengthening the regulatory framework, incentivising investment in innovation, and enabling an ecosystem for innovation and research.
• The policy aims to accelerate drug discovery and development, foster collaboration between industry and academia, and streamline existing policies to optimize research resources.
• The PRIP scheme, with an allocation of Rs 5,000 crore, focuses on 2 components: the establishment of Centres of Excellence (CoEs) within existing institutions to strengthen research infrastructure, and promotion of research in priority areas.
• These priority areas encompass a range of fields such as new chemical and biological entities, precision medicines, medical devices, and antimicrobial resistance solutions.
• India boasts the world’s 3rd -largest pharmaceutical industry by volume, valued at around $50 billion.
• The scheme is set to stimulate collaboration between pharmaceutical companies, research institutions, and start-ups.

Recent News

• The Union Cabinet has approved the 2nd edition of the production-linked incentive (PLI 2.0) scheme for IT hardware with a ₹17,000-crore outlay.
• The Union government has approved a subsidy of Rs 38,000 crore for phosphatic and potassic (P&K) fertilisers for the kharif 2023 season (April-September) under the nutrient-based subsidy (NBS) mechanism.
• The Union Cabinet approved the signing of a memorandum of understanding between Competition Commission of India (CCI) and Egyptian Competition Authority (ECA).

CURRENT AFFAIRS : STATE NEWS

Delhi Government Launches Portal ‘E-Vanlekh’ To Empower Citizens To Protect Forests, Wildlife

• Delhi Environment and Forest Minister Gopal Rai launched a portal evanlekh.eforest.delhi.gov.in to enhance public awareness about the forest and wildlife sanctuary areas that need protection.
• It utilises a geographic information system (GIS) platform to visualize data effectively, aiming to enhance the ease of doing business and living in Delhi.
• Also, users can generate KML (formerly known as Keyhole Markup Language) files on the portal.

What is KML ?

• KML is an XML (eXtensible Markup Language) based file format for displaying information in a geographic context in an Earth browser such as Google Earth.

Key Highlights :

• It currently provides information on various aspects, including protected forest areas, reserve forest areas, morphological details, wildlife sanctuaries, buffer areas of wildlife sanctuaries, and administrative boundaries of the Department of Forest and Wildlife.
• The portal’s future enhancements will include unclassified forest areas, areas with tree felling permissions, areas targeted for compensatory plantation and afforestation, plantation sites by greening agencies, locations requiring approvals for non-forestry activities, soil moisture conservation details, and Indian State of Forest Report-based green cover information.

CURRENT AFFAIRS: BUSINESS NEWS

ONGC to invest Rs 2 trillion for net zero emissions by 2038

• State-owned ONGC plans to invest around ₹2 trillion towards its energy transition efforts until 2038.
• The company had announced its plans to invest ₹1 trillion over the next 7 years on energy transition initiatives.
• It announced scope 1 and scope 2 transitions by 2038.
• It requires ₹2 trillion in which ₹1 trillion will be (invested) by 2030 and it has various parts.
• Primarily initial expenditure will be to reduce the Scope 1 first and then we go to Scope 2 & so there are two parts.

Key Highlights

• The company plans to invest in a range of green projects, including green ammonia, hydrogen, solar and offshore wind.
• The company currently has 189 MW of capacity to generate electricity from renewable sources.
• It is targeting 10 GW by 2030.
• The firm already has signed MoU for 5 GW in Rajasthan and is scouting for projects for similar size.
• Besides, it wants to set up 25 compressed biogas plants that will convert agri-residue into gas that can be used to run automobiles (CNG) or used in industries to generate electricity and fertilizer.
• ONGC is also planning to set up 2 green-field oil-to-chemical (O2C) plants.
• Petrochemicals are chemical products derived from crude oil and are used in the manufacturing of detergents, fibres (polyester, nylon, acrylic etc.), polythene and other man-made plastics.
• The firm already has 2 subsidiaries, Mangalore Refinery and Petrochemicals Limited and ONGC Petro-Additions Limited that run petrochemical units at Mangalore in Karnataka and Dahej in Gujarat, respectively.

About ONGC:

• The Oil and Natural Gas Corporation Limited is an Indian central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.
• The company is headquartered in New Delhi.
• ONGC was founded on 14 August 1956.
• Arun Kumar Singh (Chairman & CEO).

Recent news

• In July, 2023 as the first Central Public Sector Enterprise (CPSE) in India to earn certification for its Anti-Bribery Management System (ABMS), Oil and Natural Gas Corporation (ONGC) made history.
• In May 2023, State-owned Oil and Natural Gas Corporation (ONGC) had found Crude oil and natural gas in 2 blocks of the Mumbai offshore region.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Geetika Srivastava appointed as India’s 1st Woman diplomat to head mission in Pakistan

• Geetika Srivastava, an Indian Foreign Service (IFS) officer of the 2005 batch, has created history by becoming the first-ever female Charge d’Affaires (CDA) at the Indian High Commission in Islamabad, Pakistan.
• Srivastava’s appointment is followed by the tenure of Suresh Kumar, who is soon to return to New Delhi.
• Saad Warraich, the present Director General of Afghanistan, Iran, and Turkey desk at Pakistan’s foreign ministry, will take on the role of the new Chargé d’Affaires in New Delhi.

About Geetika Srivastava :

• Srivastava has served in the Indian embassy in China during 2007-09.
• She has also had stints at the Regional Passport Office in Kolkata and as director of the Indian Ocean Region division in the external affairs ministry.
• Prior to her new assignment, she served as a joint secretary in the Ministry of External Affairs (MEA)’s Indo-Pacific division.

Key Highlights :

• Srivastava’s assignment comes at a challenging time, as the diplomatic relations between India and Pakistan have been strained due to various factors, including terrorism breeding from Pakistani soil.
• The abrogation of Article 370 in August 2019 by India, which revoked Jammu and Kashmir’s special status, resulted in Islamabad downgrading diplomatic ties with New Delhi.
• In the last 76 years, India has always been represented by male diplomats in Pakistan.
• Since 1947, when New Delhi sent Sri Prakasa as the first Indian High Commissioner to Islamabad, there have been 22 heads of mission.
• Ajay Bisaria, the last Indian High Commissioner to Islamabad, was withdrawn following Pakistan’s decision to downgrade the diplomatic ties with India.

About Pakistan:

• Capital: Islamabad
• Currency: Rupee
• President: Arif Alvi

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

SoftBank Reduces Investment in India’s Zomato via $115 Million Transaction            

• SoftBank Vision Growth Fund has divested a 1.17% stake in Zomato, a notable food delivery firm, as part of a transaction valued at ₹947 crore ($114.7 million).

Key Highlights :

• Part of Japan’s SoftBank Group, the venture capital sold 100 million shares at 7 rupees apiece in bulk deals.
• According to the data from the National Stock Exchange, the firms who bought Zomato shares include the International Monetary Fund, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund and Kotak Mahindra Life Insurance.
• With the latest development, Softbank has joined investors who have partially or fully exited the company. This also includes U.S.-based private equity firm Tiger Global that sold its remaining holding for ₹1,124 crore ($136 million) on 28 August 2023.

About Zomato :

• Founded: 2008
• Headquarters: Gurugram, Haryana, India
• Founders : Deepinder Goyal and Pankaj Chaddah
• CEO : Deepinder Goyal

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Chandrayaan-3’s Pragyan Rover Confirms Presence of Sulphur, Oxygen, Iron, and Titanium on Moon’s South Pole

• The Laser-Induced Breakdown Spectroscopy (LIBS) instrument onboard ‘Pragyan’ rover of Chandrayaan-3 has “unambiguously confirmed” the presence of sulphur on the lunar surface near the south pole, through first-ever in-situ measurements.
• Apart from sulphur, the LIBS instrument has also detected various other elements as anticipated, including aluminium (Al), sulphur (S), calcium (Ca), iron (Fe), chromium (Cr), and titanium (Ti) on the lunar surface.
• Further measurements have revealed the presence of manganese (Mn), silicon (Si), and oxygen (O).

About LIBS :

• LIBS instrument is developed at the Laboratory for Electro-Optics Systems at Peenya Industrial Estate, Bengaluru where the first India satellite was fabricated in 1975.
• It has enabled the inaugural in-situ measurements of elemental composition on the lunar surface, particularly near the southern pole.

Chandrayaan-3’s Lunar Landing Achievement :

• On August 23,2023 India achieved a monumental milestone as the Chandrayaan-3’s Lander Module successfully landed on the lunar surface.
• This accomplishment positioned India as the 4th nation in history after the US, China, and Russia to achieve a soft lunar landing and notably, the first to reach the uncharted southern pole of Earth’s moon.

Naming of Landing Sites and National Space Day :

• Prime Minister Shri Narendra Modi announced the decision to name the spot where Chandrayaan-3 Vikram lander made soft landing as ‘Shiv Shakti Point’ and the site where the Chandrayaan-2 lander crash-landed on the Moon’s surface in 2019 would be known as ‘Tiranga Point’.
• To celebrate India’s achievements in space exploration, August 23, the date of Chandrayaan-3’s lunar landing, was announced as ‘National Space Day,’.

ISRO released a graph of temperature variation on lunar surface measured by Chandrayaan-3’s payload

• The Indian Space Research Organisation (ISRO) released a graph of the temperature variation between the moon’s surface and a point around 8 cm below as measured by an instrument named ChaSTE probe.
• This crucial data release follows just 4 days after the Vikram lander and Pragyaan rover at the location referred to as the ‘Shiv Shakti’ point, a name bestowed by PM Shri Narendra Modi.

About ChaSTE Probe :

• The Chandra’s Surface Thermophysical Experiment (ChaSTE) stands as a temperature probe.
• It’s equipped with 10 sensors and can be mechanically driven into the moon’s surface using a motor, reaching depths of up to 10 cm.

Purpose :

• ChaSTE’s primary function is to measure the temperature profile of the lunar topsoil around the South Pole to understand its thermal behaviour.

Developers :

• Developed by ISRO’s Space Physics Laboratory at the Vikram Sarabhai Space Centre (VSSC), the ChaSTE probe was created in collaboration with the Physical Research Laboratory (PRL) located in Ahmedabad, Gujarat.

Key Highlights :

• ChaSTE’s collected data showcases a notable variation between the moon’s surface and a point just approximately 10 cm beneath it.
• At the moon’s visible surface (the region where the lander is situated, between Manzinus C and Simpelius N craters), the temperature registers between 40-50 degrees Celsius.
• However, at a depth of around 80 mm below the surface, the temperature experiences a drastic drop, plunging to roughly -10 degrees Celsius.

About ISRO :

• Established : 15 August 1969
• Headquarters : Bangalore, Karnataka
• Chairman : Sreedhara Somanath

Japan Prepares for Dual-Purpose Space Launch: Simultaneous Deployment of Lunar Lander and X-Ray Probe

• Japan prepares to launch a dual-purpose mission from one rocket, deploying SLIM or Smart Lander to investigate Moon to showcase precise moon landing techniques and XRISM for enhanced celestial analysis.

About XRISM :

• The X-Ray Imaging and Spectroscopy Mission (XRISM) is a joint mission of the Japan Aerospace Exploration Agency (JAXA) and the National Aeronautics and Space Administration (NASA), involving contributions from the European Space Agency (ESA) and Canadian Space Agency as well.

Aim :

• To observe X-rays coming from deep space and to identify their wavelengths with unprecedented precision.
• It will use state-of-the-art spectroscopy to measure changes in the brightness of celestial objects at different wavelengths.
• It detects X-rays with energies ranging from 400 to 12,000 electron volts. (For comparison, the energy of visible light is 2 to 3 electron volts.)
• This range will provide astrophysicists with new information about some of the universe’s hottest regions, largest structures, and objects with the strongest gravity.

About SLIM :

• SLIM is a compact robotic moon lander with no astronauts aboard.
• Called ‘Moon Snipper’ in the Japanese language, it has lightweight equipment for advanced observations and adaptable landings on resource-scarce planets, advancing exploration strategies.
• The most important aim of the lander is to demonstrate accurate lunar landing techniques with a precise touchdown.
• The mission plan calls for a landing no more than 328 feet (100 m) from a target inside the moon’s Shioli Crater.

Recent News :

• In a crucial moment for Japan’s Japan Aerospace Exploration Agency (JAXA), X-Ray Imaging and Spectroscopy Mission (XRISM) spacecraft along with Smart Lander for Investigating Moon (SLIM), are set for a launch on 26 August, 2023.

BHEL Manufactures 1st Indigenous SCR Catalysts for Yadadri Power Station to Reduce NOx Emissions

• A government engineering firm, Bharat Heavy Electricals Limited (BHEL) manufactured India’s 1st set of Catalysts for Selective Catalyst Reactors (SCR) for limiting Oxides of Nitrogen (NOx) emissions from thermal power plants.
• The first set of indigenously manufactured SCR catalysts for the 5×800 MW Yadadri Thermal Power Station in Telangana, were flagged off by Renuka Gera, Director (Industrial Systems & Products), BHEL, from the company’s Solar Business Division (SBD) unit in Bengaluru, Karnataka.
• Burning coal converts its nitrogen content into nitrogen oxides (NOx), a major air pollutant that includes substances such as Nitric Oxide (NO), Nitrogen Dioxide (NO2), and Nitrous Oxide (N2O).

Recognized Need for NOx Reduction :

• BHEL has set up a state-of-the-art SCR catalyst manufacturing facility at its SBD unit to cater to NOx abatement in thermal power stations.
• Recognizing the long-term severe effects of NOx and in consideration of the Ministry of Environment and Forests notification, Telangana State Power Generation Corporation Limited (TSGENCO) had placed an order for SCRs for 5×800 MW Yadadri Thermal Power Station (TPS), Maharashtra State Power Generation Company (MAHAGENCO) for 1×660 MW Bhusawal TPS, West Bengal Power Development Corporation (WBPDCL) for 1×660 MW Sagardighi TPS and National Aluminium Company (NALCO) for 1×18.5 MW Damanjodi TPS.

About BHEL :

• Established : 1956
• Headquarters : New Delhi, Delhi
• BHEL is an Indian central public sector undertaking and the largest government-owned power generation equipment manufacturer.
• It is under the ownership of the Government of India and administrative control of the Ministry of Heavy Industries.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Department of Ex-Servicemen Welfare signs an MoU with private sector to generate employment for Veterans

• A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence and M/s Genpact India Private Limited in New Delhi.
• The MoU between DGR and Corporates endeavours to bring the corporate companies and Ex-Servicemen on a common platform to generate employment opportunities for the esteemed Ex-Servicemen of the Defence Services.
• Genpact, a global leader in professional services, would provide meaningful career opportunities for Veterans.
• “This partnership would bring in more visibility of our Ex-servicemen to the industry and corporations and help in achieving the objectives of providing skilled manpower and giving a dignified second career to our Ex-servicemen.

Recent News

• In June 2023, A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence and M/s Kotak Mahindra Life Insurance Company Limited in New Delhi.

MoU signed between Ministry of Social Justice & Empowerment and National Safai Karamcharis Finance & Development Corporation

• A momentous collaboration has been cemented as the Ministry of Social Justice & Empowerment and the National Safai Karamcharis Finance and Development Corporation (NSKFDC) inked a Memorandum of Understanding (MoU) for the fiscal years 2023-24 and 2024-25.
• This strategic partnership aims to enhance the socio-economic upliftment of Safai Karamcharis, Manual Scavengers, Waste Pickers and their dependents.
• NSKFDC focuses on the complete mechanization of Sewer and Septic Tank cleaning operations by providing soft loans at low rates of interest to Sanitation Workers, Urban Local Bodies.
• Capital subsidy ranging from 50 to 32% is provided to sanitation workers taking up mechanized cleaning works under Swachhta Udyami Yojana (SUY).
• Adequate training is provided free of cost to sanitation workers regarding safety precautions, use of PPE kits and operation and maintenance of cleaning machines and equipment.

Key Highlights

• NSKFDC also provides loans up to 1.00 lacs under its Mahila Samridhi Yojana and Micro Credit Finance Scheme.
• The overall rate of interest is 4% and 5%, respectively.
• The other loan schemes are General Term Loan and Green Business Schemes under which loans up to 15.00 lacs and up to Rs.30.00 lacs respectively are provided with rate of interest at 6% and 1% rebate for women beneficiaries.
• In FY 2022-23, NSKFDC has disbursed total loans of Rs.261.49 crores covering 43862 beneficiaries.
• About 80% of the beneficiaries are women.
• NSKFDC has set up a target to cover 52634 new beneficiaries in FY 2023-24 and 63161 new beneficiaries in FY 2024-25.
• NSKFDC has provided Skill development Training to 20686 sanitation workers and their dependents under SRMS and PM DAKSH Yojana during FY 2022-23.
• To strengthen the GOI initiatives for welfare of Safai Karamcharis, NSKFDC as per MoU shall be providing Skill Development Training to 11000 and 12500 beneficiaries in FY 2023-24 and FY 2024-25, respectively under PM DAKSH Yojana.

India and Kenya agree to deepen cooperation in maritime security in Indian Ocean region & joint training in counter insurgency

• India and Kenya agreed to further deepen cooperation in maritime security in the Indian Ocean region.
• A bilateral meeting was held between Defense Minister Rajnath Singh and Cabinet Secretary for Defence of Kenya Aden Bare Duale in New Delhi.
• India and Kenya agreed to enhance cooperation in maritime security in the Indian Ocean region and joint training in counter-insurgency.
• They also agreed to enhance cooperation in the defence industry and equipment.

Key Highlights

• In the field of capacity building and for collaboration in ship design and construction, a MoU was also signed between Goa Shipyard Limited and Kenya Shipyard Limited.
• Shri Rajnath Singh presented 15 pairs of parachutes manufactured by Gliders India Limited for the Kenyan Forces.
• India will also support the setting up of an advanced CT scan facility in Kenya.
• The Kenyan Cabinet Secretary for Defence is on a 3-day visit to India.
• He will also visit Indian shipyards and defence industries in Goa and Bengaluru, Karnataka.

About Kenya :

• Capital: Nairobi
• Currency: Kenyan Shilling

CURRENT AFFAIRS: IMPORTANT DAYS

National Nutrition Week 2023: September 1-7

• National Nutrition Week is observed from September 1 to September 7 every year.
• The theme of National Nutrition Week 2023 is “Healthy Diet Gawing Affordable for All”.
• National Nutrition Week 2023 is celebrated to raise awareness about the importance of consuming nutrition-rich food.
• The need to spread awareness this National Nutrition Week is because a large population of India especially children and women don’t get food supply due to poverty, illiteracy, and lack of awareness.
• The objective is to intensify awareness generation on the importance of nutrition for health which has an impact on development, productivity, economic growth, and ultimately national development.
• National Nutrition Week was established in 1975 by the members of the American Dietetic Association(ADA), now known as the Academy of Nutrition and Dietetics.
• This week was set aside to raise awareness among the general public of the value of good nutrition and the need for an active lifestyle.

Daily CA One-Liner: 1^st September

• Karnam Sekar, the chairman of the National Asset Reconstruction Company of India (NARCL), commonly referred to as the Bad Bank, has resigned due to differences over structure and functioning of the institution.
• Minister of Civil Aviation, Shri Jyotiraditya M Scindia along with Gen. Vijay Kumar Singh (Rtd.) MoS, Ministry of Civil Aviation inaugurated Utkela Airport and a direct flight between Utkela and Bhubaneshwar.
• President Draupadi Murmu launched the state-level program of “Year of Positive Change” at Prajapita Brahmakumari Ishwariya Vishwavidyalaya in Raipur, Chhattisgarh.
• The Ministry of Electronics and Information Technology will be organizing the Global IndiaAI 2023, scheduled for October 2023.
• The addition of 6 new members to the BRICS grouping will see it controlling 46% of the world’s population and 30% of its economic output.
• Union Cabinet has given the green light to the National Policy on Research and Development and Innovation in the Pharma-MedTech Sector
• State-owned ONGC plans to invest around ₹2 trillion towards its energy transition efforts until 2038.
• A Memorandum of Understanding (MoU) was signed between Directorate General Resettlement (DGR) under Department of Ex-Servicemen Welfare, Ministry of Defence and M/s Genpact India Private Limited in New Delhi.
• A momentous collaboration has been cemented as the Ministry of Social Justice & Empowerment and the National Safai Karamcharis Finance and Development Corporation (NSKFDC) inked a Memorandum of Understanding (MoU) for the fiscal years 2023-24 and 2024-25.
• India and Kenya agreed to further deepen cooperation in maritime security in the Indian Ocean region.
• A team of technology experts of Birla Institute of Technology & Science (BITS) Hyderabad,Telangana, Indian Institute of Technology ( IIT) Bombay, Maharashtra and IIT Kharagpur, West Bengal coordinated by Prasanta Sahu, has won Asian Development Bank’s grant of US$3.99 lakh (₹3.32 crore) to develop Technologies for Urban Transit to Enhance Mobility and Safe Accessibility (TUTEM) to develop, test, and implement it in the public transport systems of Hyderabad.
• The Indian Institute of Technology-Bombay (IIT-B) has partnered with Hong Kong and Shanghai Banking Corporation (HSBC) to pursue technological advancements towards making green hydrogen production more efficient, cost-effective, and
• The Indian Institute of Technology (IIT) Bombay has received a donation of USD 18.6 million (over 153 crore) from an alumnus towards the establishment of a Green Energy and Sustainability Research Hub.
• Delhi Environment and Forest Minister Gopal Rai launched a portal evanlekh.eforest.delhi.gov.in to enhance public awareness about the forest and wildlife sanctuary areas that need protection.
• Geetika Srivastava, an Indian Foreign Service (IFS) officer of the 2005 batch, has created history by becoming the first-ever female Charge d’Affaires (CDA) at the Indian High Commission in Islamabad, Pakistan.
• SoftBank Vision Growth Fund has divested a 17% stake in Zomato, a notable food delivery firm, as part of a transaction valued at ₹947 crore ($114.7 million).
• The Laser-Induced Breakdown Spectroscopy (LIBS) instrument onboard ‘Pragyan’ rover of Chandrayaan-3 has “unambiguously confirmed” the presence of sulphur on the lunar surface near south pole, through first-ever in-situ measurements.
• The Indian Space Research Organisation (ISRO) released a graph of the temperature variation between the moon’s surface and a point around 8 cm below as measured by an instrument named ChaSTE probe.
• Japan prepares to launch a dual-purpose mission from one rocket, deploying SLIM or Smart Lander for Investigating Moon to showcase precise moon landing techniques and XRISM for enhanced celestial analysis.
• A government engineering firm, Bharat Heavy Electricals Limited (BHEL) manufactured India’s 1st set of Catalysts for Selective Catalyst Reactors (SCR) for limiting Oxides of Nitrogen (NOx) emissions from thermal power plants.
• National Nutrition Week is observed from September 1 to September 7 every year.