Current Affairs For 20th September 2023

Hello, readers…With our Current Affairs Digest, you can expect to gain a deeper understanding of global affairs and stay informed about key trends and issues that impact our lives. We carefully select and summarize relevant news articles, providing you with concise yet comprehensive updates that save you time and effort in staying informed.

 

Q1.Who inaugurated the YashoBhoomi Convention Centre?

1. President of India
2. Prime Minister Modi
3. Chief Minister of the respective state
4. Minister of Culture

Ans:-2)Prime Minister Modi

• Prime Minister Narendra Modi achieved a significant milestone by inaugurating Phase 1 of the India International Convention and Expo Centre (IICC), aptly named ‘Yashobhoomi’. This cutting-edge facility, constructed at a cost of Rs 5,400 crore, is poised to revolutionize the landscape of global Meetings, Incentives, Conferences, and Exhibitions (MICE).
• Yashobhoomi stands as a testament to India’s unwavering dedication to hosting world-class events. It boasts an extensive project area exceeding 8.9 lakh square metres, with a built-up area surpassing 1.8 lakh square metres. The convention centre itself spans over 73,000 square metres and comprises 15 well-appointed convention rooms, including the main auditorium, the grand ballroom, and 13 meeting rooms. These state-of-the-art facilities collectively offer an impressive capacity, capable of accommodating up to 11,000 delegates.

 

Q2.Which state has issued a notification regarding the name change of Aurangabad and Osmanabad?

1. Maharashtra
2. Karnataka
3. Rajasthan
4. Gujarat

Ans:-1)Maharashtra

• The Maharashtra government has officially announced the renaming of Aurangabad and Osmanabad districts to Chhatrapati Sambhajinagar and Dharashiv, respectively. This decision encompasses changes at various administrative levels, including sub-division, village, taluka, and district, and has been formalized by the state’s Revenue Department.
• Historically, Aurangabad, a city in Maharashtra, was named after the Mughal emperor Aurangzeb, while Osmanabad was named after a ruler from the princely state of Hyderabad in the 20th century. The renaming of ‘Aurangabad’ to ‘Sambhajinagar’ carries significant historical and cultural weight.
• Chhatrapati Sambhaji, the eldest son of the revered warrior king Chhatrapati Shivaji Maharaj, succeeded his father as the second ruler of the Maratha state. His execution on the orders of Aurangzeb in 1689 stands as a pivotal event in Maratha history.

 

Q3.Who unveiled the ‘Sarpanch Samvad’ Mobile App in Assam?

1.Chief Minister of Assam

2.Prime Minister of India

3.President of India

4.Governor of Assam

Ans:-4)Governor of Assam

• Assam Governor Gulab Chand Kataria introduced the innovative ‘Sarpanch Samvad’ app during an impressive launch event held at the Raj Bhavan. This pioneering initiative is poised to transform the mode of communication, collaboration, and access to essential resources for Sarpanchs, who hold the crucial role of village headmen.
• The ceremony saw the active participation of over 30 Sarpanchs from various parts of the country, underscoring the app’s significance in advancing community development. The ‘Sarpanch Samvad’ app has been meticulously developed by the Quality Council of India (QCI).
• This app is meticulously crafted to connect approximately 2.5 lakh Sarpanchs across India. It acts as a comprehensive platform that facilitates networking, knowledge sharing, and collaboration among these grassroots leaders. Beyond serving as a unified space for exchanging ideas, the app strongly reinforces QCI’s dedication to empowering grassroots leaders.

 

Q4.Which bank is Sridhar Kalyanasundaram associated with?

1. HDFC Bank

2.ICICI Bank

3.Dhanlaxmi Bank

4.Axis Bank

Ans:-3)Dhanlaxmi Bank

• Sridhar Kalyanasundaram, the independent director of Dhanlaxmi Bank Ltd., has tendered his resignation from the board, effective September 16. His decision is attributed to issues such as “factionalism” and concerns regarding “unethical” business practices. Kalyanasundaram, who was appointed on December 5, 2022, also raised matters concerning whistle-blower complaints, the bank’s rights issue, and what he described as the “belligerent attitude” of Shivan JK, the managing director and chief executive officer. This information was disclosed in the company’s official filing with the stock exchange.
• This development follows a special notice issued by Ravindran Pillai, the head of RP Group and the largest shareholder with a 9.99 percent stake in the bank, calling for the removal of Kalyanasundaram. A resolution on this matter is slated for consideration at the bank’s 96th annual general meeting scheduled for September 30.

 

Q5.What is the objective of the ‘IB SAATHI’ initiative?

1.Promoting Digital Payments

2.Enhancing Financial Inclusion Services

3.Encouraging Online Banking

4.Supporting Small Businesses

Ans:-2) Enhancing Financial Inclusion Services

• Indian Bank has launched ‘IB SAATHI’ (Sustainable Access and Aligning Technology for Holistic Inclusion), a new initiative aimed at strengthening its financial inclusion endeavors. The primary objective of IB SAATHI is to extend essential banking services to diverse stakeholders through the business correspondent (BC) channel.
• As part of this revamped approach, Indian Bank is dedicated to providing basic banking services for a minimum of four hours daily through fixed outlets at all its centers. This marks a substantial stride in ensuring widespread accessibility to banking services.
• The bank has set ambitious targets for the expansion of its BC network, with plans to deploy over 5,000 new BCs by March 2024. Presently, it already boasts 10,750 BCs and 10 corporate business correspondents (CBCs). These figures are poised for significant augmentation, reaching 15,000 BCs and 15 CBCs, thereby amplifying the bank’s outreach and coverage.

 

Q6.What is the amount planned by SIDBI for the rights issue?

1.Rs 5,000 Crore

2.Rs 7,500 Crore

3.Rs 10,000 Crore

4.Rs 12,500 Crore

Ans:-3)Rs 10,000 Crore

• Small Industries Development Bank of India (SIDBI), a prominent player in SME loan refinancing, has revealed its intention to raise Rs 10,000 crore through a rights issue in the upcoming fiscal year. This strategic step aims to fortify its equity capital, as the institution foresees an increase in its assets, targeting a milestone of Rs 5 lakh crore by March 2024, up from its current standing of approximately Rs 4 lakh crore as of March 2023.
• Sivasubramanian Ramann, the Chairman and Managing Director of SIDBI, has outlined that the rights issue will be conducted in two tranches of Rs 5,000 crore each during the next fiscal year. This approach will augment the institution’s capital base by a total of Rs 10,000 crore, offering crucial support for its expanding balance sheet, which is anticipated to grow by a quarter from its current size.

 

Q7.What is the purpose of the IRDAI Standing Committee on Cyber Security?

1.To Regulate Banking Operations

2.To Develop Insurance Products

3.To Ensure Cybersecurity Measures in Insurance Sector

4.To Investigate Financial Frauds

Ans:-3)To Ensure Cybersecurity Measures in Insurance Sector

• The Insurance Regulatory and Development Authority of India (IRDAI) has instituted a standing committee specifically dedicated to the consistent evaluation of cyber threats associated with both existing and emerging technologies. Beyond the identification of vulnerabilities, this committee is entrusted with the responsibility of suggesting essential measures to fortify the cybersecurity framework within the insurance sector.
• A key focus of the committee lies in scrutinizing the implementation of the IRDAI Information and Cyber Security Guidelines, 2023. These guidelines function as an all-encompassing framework for insurers and intermediaries to proficiently assess, manage, and mitigate cyber risks.
• Heading this 10-member committee is PS Jagannatham, a seasoned professional possessing a profound understanding of technology and cybersecurity. The committee itself comprises a diverse assembly of experts, including scholars, industry practitioners, and representatives from the insurance broking community.

 

Q8.What was the purpose of the UNCITRAL South Asia Conference hosted by India?

1. To Discuss Climate Change
2. To Promote International Tourism
3. To Address Legal Issues Related to International Trade
4. To Explore Space Exploration

Ans:-3) To Address Legal Issues Related to International Trade

• India recently hosted the inaugural South Asia conference by the United Nations Commission on International Trade Law (UNCITRAL), held from September 14 to 16. This notable event was a collaborative effort between the Ministry of External Affairs, UNCITRAL, and the organization’s national coordination committee for India.
• This three-day conference served as a continuation of a significant gathering that took place in New Delhi in 2016, commemorating 50 years of UNCITRAL’s establishment. The primary objective of the conference was to strengthen the relationship between India and UNCITRAL, while also promoting active engagement between UNCITRAL, the judiciary, the bureaucracy, academia, and the legal community.
• UNCITRAL, acknowledged as “the principal legal entity within the United Nations system dedicated to international trade law,” has played a crucial role in reforming and standardizing international business regulations globally for over fifty years. A central focus of the conference was to position India as a focal point for international arbitration, recognizing the country’s potential in this domain.

 

Q9.What is the significance of Santiniketan being on the UNESCO World Heritage List?

1.It is recognized as a site of cultural and educational importance

2.It is a natural wonder with unique flora and fauna

3.It is renowned for its ancient architectural marvels

4.It is a hub for international trade and commerce

Ans:-1) It is recognized as a site of cultural and educational importance

• Santiniketan, the esteemed cultural and educational center established by Nobel laureate Rabindranath Tagore, has achieved the esteemed recognition of being included in UNESCO’s World Heritage List. This decision was reached during the 45th session of the World Heritage Committee held in Saudi Arabia, affirming Santiniketan’s global significance.
• Originally conceived as an ashram by Rabindranath Tagore’s father, Maharshi Debendranath Tagore, Santiniketan served as a sanctuary for spiritual contemplation. It welcomed individuals, regardless of their caste or creed, to commune in meditation before the singular Supreme Being.

 

Q10.What was Neeraj Chopra’s placement in the Diamond League Final?

1. First
2. Second
3. Third
4. Fourth

Ans:-2)Second

• In the Diamond League finals held in Eugene, Neeraj Chopra, India’s illustrious javelin thrower and the reigning World champion, showcased his exceptional prowess. With a remarkable throw covering a distance of 83.80 meters, he secured a notable second place in this prestigious competition, where he faced formidable opponents. It’s worth noting that in 2022, Neeraj Chopra had previously clinched the Diamond League crown with a remarkable best attempt of 88.44 meters.
• Following this impressive feat, Chopra continued with throws measuring 81.37, 80.74, and 80.90 meters. Although these throws were praiseworthy, they fell short of surpassing the eventual Diamond League champion, Jakub Vadlejch of the Czech Republic.
• Jakub Vadlejch claimed victory with a stunning javelin throw covering an impressive distance of 84.24 meters. Finland’s Oliver Helander secured the third position, with his best throw of 83.74 meters falling just six centimeters short of Chopra’s mark.