20th September 2023 Daily Current Affairs

National & International Appointments

The Reserve Bank of India (RBI) has approved the re-appointment of Sashidhar Jagdishan as the Managing Director and Chief Executive Officer of HDFC Bank.
He joined the Bank in 1996 as a Manager in the Finance function.
He became Business Head of finance in 1999 and was appointed as CFO in 2008.
He played a critical role in supporting the growth trajectory of the Bank, and led the finance function with a pivotal role in achieving the strategic objectives

National Affairs

India has been ranked 52nd out of 121 countries in the Digital Quality of Life Index Survey 2023.
The annual survey by the Netherlands-based firm has ranked 121 countries on five factors: internet quality, internet affordability, e-infrastructure, e-government, and e-security.
In Asia, India takes 13th place, with Singapore the leader in the region.
The top 3 Countries in the Digital Quality of Life Index survey are Denmark, South Korea, and Finland

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Centre launched a series of transformative initiatives, aimed at revolutionizing agriculture in the country.
It include Kisan Rin Portal, Door to Door KCC Campaign, and Weather Information Network Data Systems (WINDS) Manual.
Aim: To amplify financial inclusion, streamline data utilization, harness technology, and enhance the livelihoods of the farmer.
Objective: To help in furthering the goal of agricultural transformation and sustainable economic growth for farmer.

Banking & Finance

ACKO has unveiled its latest health insurance offering called the ACKO Platinum Health Plan titled “Health Insurance ki Subah ho Gayi Mamu”
As per the company, the plan has features including 100% bill payment, no room rent capping, and zero waiting period, among others.
Aim: To focus on simplifying health insurance and removing all the pain points that customers have to face.

Defense

ASEAN began their first-ever joint military drills in Indonesia amid rising geopolitical tensions between major powers and protests against China’s activities in the South China Sea.
Aim: To develop military skills, including maritime security and patrols, and the distribution of humanitarian assistance and disaster relief.
All 10 members of the Association of Southeast Asian Nations (ASEAN) will join the exercise, including prospective member East Timor.

DRDO has developed the P7 Heavy Drop System which is capable of para-dropping military stores up to 7-ton weight class from IL 76 aircraft.
This system is fully indigenous and being manufactured by L&T which makes the platform system, and parachutes manufactured by Ordnance Factory.
The system would be a force multiplier for armed forces while enabling the rapid delivery of combat stores in far-flung inaccessible areas.

The Indian Army is set to acquire a regiment of Pralay tactical ballistic missiles for the first time, as part of a broader strategy to develop a strategic rocket force.
The Pralay missiles, propelled by a solid-propellant rocket motor and other novel technologies, are expected to provide a substantial boost to the Indian Army’s offensive capabilities.
It can hit targets between 150-500 Km and missiles developed by the Defence Research and Development Organisation.

Sports

Nischal won the women’s 50-metre rifle 3-position silver medal in the World Cup 2023 in Brazil.
She finished behind Norway’s Jeanette Hegg Duestad, who won gold.
It was the second medal for India, following the gold by Elavenil Valarivan in women’s air rifle.
India finished joint fifth with Germany and France with a gold and silver.
Italy was on top with two gold and a bronze.
China was second with a gold, four silver and three bronze.

Banking & Finance

The Organisation for Economic Cooperation and Development ( OCED) has raised India’s gross domestic product (GDP) growth projection for Financial Year 23 -2024 to 6.3 per cent.
The global economy, however, is expected to grow at a rate of 3 per cent in 2023, before slowing down to 2.7 per cent in 2024.
India, which is listed among the G20 emerging-market economies, has experienced mostly positive growth surprises.

The Indian Coast Guard Ship Samudra Prahari, a specialized Pollution Control Vessel, is currently on an overseas deployment to ASEAN countries from 11 Sep to 14 Oct 2023.
This deployment is part of India’s ASEAN initiatives for Marine Pollution Response, showcasing the Pollution Response capabilities of the ICG.
Aim: To demonstrate the ICG’s pollution response capabilities and its dedication to collaborative efforts for marine pollution response.

Banking & Finance

Ujjivan Small Finance Bank (Ujjivan SFB) announced the introduction of the Maxima Savings Account and Business Maxima Current Account for the premium customer segment.
The annual interest rate on the Maxima Savings Account is up to 7.5 percent and customers can open the account with Rs 1 lakh.
Customers also have the flexibility to maintain Rs 15 lakh or more in fixed deposits to meet the balance eligibility criteria of the Maxima Savings Account.

Schemes

Goa CM Pramod Sawant distributed Griha Adhar sanction orders to numerous beneficiaries to support homemakers financially, fostering their independence and improving their quality of life.
Aim : To empower Goan entrepreneurs and self-help groups, a digital initiative under the Swayampura Goa Programme.
He also flagged off the Chavath-e-Bazaar vehicle, symbolizing a new era of empowerment for rural artisans and entrepreneurs in Goa.

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RBI it imposed a monetary penalty on four co-operative banks for rule violations.
These banks include Lalbaug Co-operative Bank, The Co-operative Bank of Mehsana, The Harij Nagrik Sahakari Bank, and The National Co-operative Bank.
RBI imposed Rs 1 lakh penalty on National Co-operative Bank, Rs 3 lakh on THarij Nagrik Sahakari Bank, Rs 3.50 lakh on Co-operative Bank of Mehsana and Rs 5 lakh penalty on tLalbaug Co-operative Bank.

19th September 2023 Daily Current Affairs