Current Affairs August 25th 2023| Current Affairs News

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CURRENT AFFAIRS : BANKING & FINANCE

Punjab National Bank inaugurates PNB Pensioner’s Lounge on World Senior Citizen’s Day

• On World Senior Citizens Day (Aug 21, 2023), Punjab National Bank (PNB), the nation’s leading public sector bank, has introduced the “Pensioner’s Lounge”, a dedicated space within the branch that serves pensioners and senior citizens with all their banking needs.

Aim :

• To provide a specialised and comfortable space for pensioners and senior citizens, offering comprehensive banking services.

About Pensioner’s Lounge :

Branch Locations :

• The Pensioner’s Lounge is currently available across 11 locations, including Delhi-NCR, Mumbai, Kolkata, Ahmedabad, Hyderabad, Chandigarh, Jaipur, Shimla, and Varanasi.

Services Offered :

• The lounge offers a wide range of banking services tailored to the requirements of pensioners and senior citizens.
• It aims to provide a seamless and convenient banking experience, addressing their unique needs.

Booklet “Spandan” :

• On this occasion, PNB’s Managing Director and CEO, Atul Kumar Goel, unveiled an informative booklet named “Spandan” to provide detailed information about various bank schemes specifically designed for senior citizens and pensioners.

Recent News :

• In July 2023, Punjab National Bank (PNB) launched its environmental initiative ‘PNB Palaash’, an 8-month period campaign to embrace sustainability.

About PNB :

• Founded : 19 May 1894
• Headquarters : Dwarka, Delhi, India
• MD & CEO : Atul Kumar Goel
• Tagline : You Can Bank Upon

SBI Life Insurance becomes the 1st Indian private life insurer to launch a 24X7 inbound contact centre to offer before and after sales services to consumers

• SBI Life Insurance, one of the most trusted private life insurance companies in the country, launched its dedicated 24X7 inbound contact centre through toll-free number 18002679090 to address before and after purchase queries related to comprehensive insurance solutions provided by the company.
• SBI Life, thus, becomes the first private life insurance company in the country to have such extensive customer care support, which aligns with the company’s commitment in enriching customer experience and addressing their insurance needs/queries at their convenience.
• This number is set to see a positive rise going forwards, given the goal of ‘Insurance for all by 2047’ set by the Insurance Regulatory and Development Authority (IRDAI).

About SBI Life’s 24X7 inbound contact centre :

• The contact centre is made available to both existing and prospective consumers, 365 days a year.
• Through 24X7 customer care support, the insurance company aims to redefine seamless accessibility and interaction with trained professionals.
• The current capacity of customer care support allows the handling of around 13 lakh calls annually.
• The company also has an Interactive Voice Response System (IVRS), which has 13 self-service options.

About SBI Life Insurance :

• Incorporated in October 2000 and was registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001.
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Mr. Mahesh Kumar Sharma
• Tagline : Apne liye, Apno ke liye

IFC invests $100 million in IIFL Home Finance to help boost Economically Weaker Sections and low-income Groups housing                        

• International Finance Corporation (IFC),a member of the World Bank Group is set to invest up to $100 million in IIFL Home Finance Limited (IIFL HFL), a leading housing finance company, in a move aimed at increasing access to housing finance for economically weaker sections (EWS) and low-income groups (LIG), including women borrowers in India.
• This investment is poised to catalyse India’s affordable housing sector, foster eco-friendly construction practices, and contribute to India’s climate objectives.

Key Highlights :

Debt Funding Details :

• The funding is structured as non-convertible debentures (NCDs) and amounts to $100 million.
• It carries a 6-year tenure with a coupon rate of 8.32%.

Focus of the Partnership :

• The partnership between IIFL Home Finance & IFC has a dual focus on promoting specific areas of housing finance.

Features Of the Partnership :

• Within this partnership, 50% of the funding is earmarked to support housing finance for women borrowers.
• The remaining 50% of the funding is dedicated to financing green housing for buyers.
• The entire facility will be deployed for affordable housing.
• It will help increase access to housing finance among economically weaker sections (EWS) and low-income groups (LIG), including women borrowers in India.
• India’s rapid urbanisation has intensified the demand for affordable housing, with an estimated requirement of 38 million housing units by 2030.
• EWS and LIG segments account for over 96% of this demand.
• IFC’s estimates suggest that India’s green building market constitutes only 6% of residential buildings, despite representing a $1.25 trillion opportunity between now and 2030.
• IIFL HFL is a subsidiary of IIFL Finance Limited, a diversified financial services company.

About IFC :

• Established : July 20, 1956
• Headquarters : Washington, D.C., United States
• Managing Director : Makhtar Diop
• Membership : 186 countries
• The IFC is an international financial institution that offers investment, advisory, and asset-management services to encourage private-sector development in less developed countries.

Central Vigilance Commission reconstitutes advisory board on bank frauds

• The Central Vigilance Commission (CVC) has reconstituted the New Delhi headquartered Advisory Board on Banking and Financial Frauds (ABBFF) to address fraudulent activities in the banking and financial sectors.

Functions of ABBFF :

• ABBFF carries out the first level examination of bank frauds before recommendations or references are made to investigation by agencies like Central Bureau of Investigation (CBI).
• All PSBs, public sector insurance companies, and public sector financial institutions are now required to refer all matters of frauds involving ₹3 crore and above to the ABBFF for advice.

Chairman and Members :

• Suresh N Patel, former Central Vigilance Commissioner, will be the Chairman of the reconstituted ABBFF.
• In addition to the Chairman, the ABBFF will also have 4 members, including Ravikant, Rajnikant Mishra, David Rasquinha, and Partha Pratim Sengupta.

Term Duration :

• The term of the Chairman and Members of ABBFF will be for 2 years, effective from August 21, 2023.

CAMSfinserv onboards 17 Asset Management Companies on account aggregators platform

• CAMSfinserv, one of the first RBI-licensed Account Aggregators (AA) in India, has onboarded all 17 Asset Management Companies serviced by CAMS as financial information providers on the AA platform, making it the 1st in the industry to provide access to mutual fund data.
• Customers will be able to access and share both their mutual fund holdings and bank account transactions from a single and secure platform, track their investments, identify areas where they can save and make better financial decisions.
• This will help Asset Management Companies to attract and retain customers by simplifying the access and management of their financial data, improve risk management, ensure compliance, personalise financial offerings and improve or innovate existing operational processes.

What is an Account Aggregator ?

• An Account Aggregator is a non-banking financial company engaged in the business of providing, under a contract, the service of retrieving or collecting financial information pertaining to its customer.

About CAMS :

• Managing Director : Anuj Kumar
• CAMSfinserv is leading Account Aggregator with 54 entities including banks, MFs, insurers, depositories and GSTN live on its platform as Financial Information Providers.

Axis Bank announces partnership with Cleartrip to give travel benefits to credit card holders  

• Cleartrip, a subsidiary of Flipkart, has joined forces with Axis Bank, a prominent private sector bank in India, to introduce an innovative travel proposition for Axis Bank credit cardholders.

Aim :

• To provide a range of travel benefits to both existing and new cardholders who book through Cleartrip.
• Under this collaboration, customers will receive a range of privileges for domestic flight bookings, including a discount on seat bookings up to Rs 1,200, complimentary meals up to Rs 500, an exemption from convenience fees, and the option to cancel and reschedule flights for Rs 1 under CT FlexMax.

About Axis Bank :

• Established : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Amitabh Chaudhry
• Tagline : Badhti Ka Naam Zindagi

About Cleartrip :

• Founded : July 2006
• Headquarters : Mumbai, Maharashtra
• CEO : Ayyappan R
• Cleartrip is a global online travel company, operates an online travel aggregator website for booking flights, train tickets, hotel reservations, and activities in India and the Middle East countries.

BoB introduces Video Re-KYC Service for Hassle-Free KYC Updation

• Bank of Baroda (BoB), a state-owned bank, has launched the ‘Video Re-KYC’ service to simplify the periodic update of customer identity documents.
• This service allows individual resident customers to update their ‘Know Your Customer’ (KYC) details without needing to visit a physical branch.

Eligibility Criteria :

• To avail the Video KYC facility, customers must be Indian residents, above 18 years of age and must have their Aadhaar number and original PAN Card.

Process and Timing :

• Video Re-KYC calls will be undertaken during business hours (10:00AM to 6:00PM) on all working days.
• Customers are verified through video calls, ensuring their identity and KYC documents’ accuracy.

Mandatory Requirement :

• Periodic updation of KYC (Re-KYC) is a mandatory requirement of the RBI and customers need to immediately update their KYC documents with the bank when KYC update is due.

Extension of Video KYC :

• BoB introduced video KYC in 2021 to open full-fledged digital savings accounts.
• The bank has now extended video KYC for Re-KYC facility for the convenience of its customers.

Significance of Video Re-KYC :

• Video Re-KYC aligns with the increasing digitalization in banking services.
• It reduces the need for customers to physically visit branches, saving time and

About BoB :

• Established : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand
• Tagline : India’s International Bank

CURRENT AFFAIRS: NATIONAL NEWS

Ministry of Ports, Shipping and Waterways (MOPSW) developing  the Next-Gen Container Terminal at Tuna Tekra, Gujarat

• Deendayal Port Authority (DPA), a leading Major Port on the West Coast of India in Gujarat, is signing a concession agreement for the development, operation and maintenance of a new mega container terminal at Tuna-Tekra, Gujarat (near Kandla) with DP World, a multinational logistics company based in Dubai, United Arab Emirates.
• The concession agreement will be signed between Deendayal Port Authority and DP World in the August presence of Shri Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways and AYUSH, and H.E. Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World at Tactic 1&2, Aloft Hotel Aerocity, New Delhi from 8 PM Onwards.
• Shri Shantanu Thakur, Minister of State for Ports, Shipping and Waterways, and other dignitaries will also be present during the signing.
• The project involves the construction of a mega-container terminal at Tuna-Tekra near Kandla, at a cost of Rs 4,243.64 crore through Public Private Partnership (PPP) mode.
• Once complete, the terminal will have the annual capacity to handle 2.19 million container units (TEUs) with the capability to handle next-generation vessels carrying more than 18,000 TEUs.
• The new terminal will cater to future trade demand from Northern, Western and Central India, connecting the regions to global markets.
• The project aligns with Vision 2047 of the Government of India to quadruple port handling capacity and develop multimodal logistics infrastructure to promote economic growth.

Union Government to launch Tele-Law – 2.0 Integrates Tele-Law and Nyaya Bandhu App in New Delhi

• Union Government will launch Tele-Law – 2.0 which Integrates Tele-Law and Nyaya Bandhu App to ensure access to Justice in New Delhi.
• The Law and Justice Ministry said this will enable the common citizen to access legal advice, legal assistance and legal representation through a single registration and single gateway of Tele-Law.
• The event marks the achievement of providing 50 lakh legal advice to the beneficiaries.
• During the programme, the frontline functionaries who are the grassroots soldiers and ensure the delivery of legal services at its doorstep will be felicitated.

26th National Conference on e-Governance to begin in Indore

• The 26th National Conference on e-Governance began in Indore to deliberate on providing better facilities to the citizens.
• The conference was inaugurated by MP Micro, Small & Medium Enterprises, Science & Technology Minister Om Prakash Sakhalecha. Tulsi Ram Silavat, Minister of Water Resources, Fishermen Welfare and Fisheries Development Department of Madhya Pradesh was also present on this occasion.
• The two-day conference is being organized by the Department of Administrative Reforms and Public Grievances and the Ministry of Electronics and Information Technology in collaboration with the Government of Madhya Pradesh.
• The conference is being brainstormed on the topic ‘Developing India: Empowering Citizens’.
• Representatives from 28 states and 9 union territories as well as industry are participating in the conference.
• Eleven themes including district-level initiatives, emerging technologies for providing citizen centric services, role of R&D in citizen centric services are being discussed in the conference.
• National e-Governance Awards 2023 in 5 categories will also be presented during the conference.

B20 Summit India 2023 to commence in New Delhi

• The B20 Summit India 2023 will commence in New Delhi.
• During the three days Summit, Union Ministers Nirmala Sitharaman, Dharmendra Pradhan, Dr. S Jaishankar, G20 India Sherpa Amitabh Kant, Trade Ministers of various countries, and several business leaders will share their ideas on the issues concerning businesses globally.
• Prime Minister Narendra Modi will attend the special session on the 27th of this month as Chief Guest.
• The Summit is based on the theme of B20 India R.A.I.S.E: Responsible, Accelerated, Innovative, Sustainable, Equitable Businesses.
• Seven task forces were created for India’s Presidency in the areas of inclusive global value chains for resilient global trade and investment, future of work, skilling, mobility, digital transformation, financing for global economic recovery, climate change, technology, innovation, and financial inclusion for economic empowerment.
• To focus and deliberate on the larger structural agenda, B20 India worked through two Action Councils on environmental, social, and governance in Business on African Economic Integration.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Ministry of Skill Development and Entrepreneurship in collaboration with Australian Government hosts a roundtable on “Enhancing health workforce training and skill pathways”

• The Ministry of Skill Development and Entrepreneurship, Government of India, in collaboration with the Australian Government, successfully hosted a roundtable on “Enhancing Health Workforce Training and Skill Pathways” on August 21, 2023, in New Delhi.
• The distinguished event saw the participation of Mr Mark Butler MP, Minister for Health and Aged Care, Government of Australia, alongside Shri Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship (MSDE), Government of India.
• Shri Atul Kumar Tiwari, Secretary, MSDE welcomed the Australian Minister Butler and his team for this Roundtable Discussion.
• He shared the current developments within the skill ecosystem where the National Education Policy of 2021 created a National Skills Qualification Framework (NSQF) to provide harmonization between education and skills and ensure horizontal and vertical mobility of students.
• Further, he highlighted the situation of a global shortage in the Healthcare sector for qualified professionals and how India is ready to address this issue with skilling in India along with PM Shri Narendra Modi’s recent approval of setting up of 157 new nursing colleges in India.

Inland Waterways Authority of India (IWAI) signs an MoU with Numaligarh Refinery Ltd  for export of Petroleum Cargo

• Union Minister of Ports, Shipping & Waterways and Ayush Shri Sarbananda Sonowal attended the Memorandum of Understanding (MoU) signing ceremony between Inland Waterways Authority of India (IWAI) and Numaligarh Refinery Limited (NRL) to use National Waterways-2 (Brahmaputra) and Indo Bangladesh Protocol Route (IBPR) for export of petroleum products to Bangladesh and other south east Asian countries in Guwahati, Assam
• The MoU is aimed at powering PM Gati Shakti National Master Plan to boost India’s Act East Policy.
• NRL will export around 10,000 MT of Petroleum and petrochemical products per month from the IWAI Jogighopa Multi-Modal terminal.
• NRL to set up POL Oil Terminal at Jogighopa Logistics Park with rail connectivity.
• This MoU is aimed at fulfilling the ‘Hydrocarbon Vision 2030 for Northeast’ by enabling inland waterways transportation via NW2 and IBPR, unveiling a new chapter of EXIM trade for the Northeast region.
• The MoU is aimed at powering the PM Gati Shakti National Master Plan to bring in transformative change in the cargo movement for the region.
• Under the dynamic leadership of Prime Minister Shri Narendra Modi ji, the visionary Act East policy is empowering Northeast India towards unlocking the full potential of Hydrocarbon Vision 2030.
• Earlier, NRL and IWAI had signed an MoU on 26 August, 2021 for transporting ODC and OWC through Maritime route utilising the National Waterways. The first such consignment was received at a jetty near Numaligarh in June this year.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Srettha Thavisin wins vote to become 30th prime minister of Thailand

• Former real estate tycoon Srettha Thavisin of Pheu Thai Party (PTP) has been elected as the 30th Prime Minister of Thailand, succeeding Prayuth Chan-Ocha who retired from politics in July 2022.

Election Outcome :

• The final vote tally for Srettha Thavisin was 482 in favour, 165 against, and 81 abstentions, with a combined participation of 705 MPs and senators.
• Out of the 482 votes in favour, 330 were from Members of Parliament (MPs) and 152 from senators.
• Of the 164 votes against him, 152 were from MPs and 12 from senators.
• The 81 abstentions included 13 MPs and 68 senators.

About Srettha Thavisin :

• Srettha Thavisin was born on 15 February 1962 in Bangkok, Thailand.
• He began his career as an assistant product manager at consumer goods giant P&G Thailand, before moving into the real estate sector.
• Srettha is a former president and chief executive of real estate developer Sansiri Plc, the second largest real estate company in Thailand.

About Thailand :

• Capital : Bangkok
• Currency : Thai Baht (THB)

Axis Bank’s Neelkanth Mishra appointed as part-time chairperson of UIDAI

• Neelkanth Mishra, Chief Economist at Axis Bank and Head of Global Research at Axis Capital, has been appointed as part-time chairperson of Aadhaar-issuing body Unique Identification Authority of India (UIDAI).
• The Chairperson and Members will serve for a term of 3 years or until the age of 65, whichever comes earlier, from their date of assuming office.
• Mishra is the 4th chairperson of UIDAI, and the 2nd non-bureaucrat to be appointed at the top post in the nodal authority.
• Nandan Nilekani, the first chairperson of UIDAI, was also the only other non-bureaucrat to have helmed the body, as part of his stint of over 4 years from which he stepped down in March, 2014.

Other Appointments :

• The Ministry of Electronics and Information Technology (MeitY) also appointed Nilesh Shah, managing director of Kotak Mahindra Asset Management Company (AMC), and Mausam, associate professor of computer science and founder of Yardi School of Artificial Intelligence (AI) at the Indian Institute of Technology (IIT), Delhi, as part-time members of the UIDAI board.

About Neelkanth Mishra :

• Mishra is the Managing Director (MD) of Kotak Mahindra Asset Management.
• Prior to Axis Bank, he worked for two decades at Zurich-based Credit Suisse, where his roles included Co-head of APAC Strategy, India Equity Strategy Head, and Head of Research, India.
• Mishra now also serves as a member of the advisory council of the 15th Finance Commission, a part-time member of the Economic Advisory Committee to the Prime Minister (PM-EAC), and a member of the advisory committee to India Semiconductor Mission (ISM).

Recent News :

• In June 2023, Amit Agrawal, a 1993 batch IAS officer, took charge as Chief Executive Officer (CEO) of the Unique Identification Authority of India (UIDAI).

About UIDAI :

• The UIDAI is a statutory authority established under the provisions of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (Aadhaar Act 2016) on July 12, 2016, by the Government of India, under the MeitY.
• Headquarters : New Delhi, Delhi
• UIDAI was created to issue Unique Identification numbers (UID), named as “Aadhaar”, to all residents of India.
• The authority consists of a Chairperson, two part-time Members and the Chief Executive Officer (CEO), who is also the Member-Secretary of the Authority.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Chandrayaan-3: India lunar rover Pragyaan takes a walk on the Moon

• India has created history as it became the first country to land on the South Pole of lunar surface.
• The Vikram lander successfully touched down as planned on 23 August 2023 at 6.04 pm.
• India joins an elite club of countries to achieve a soft landing on the Moon, after the US, the former Soviet Union and China.
• As of now, the Vikram Lander has safely touched down on the lunar surface, accompanied by the Pragyan Rover positioned on the lander’s ramp. In the next phases of the mission, the rover will embark on its journey on the Moon’s surface to gather the relevant information about its atmosphere.
• The 26kg rover called Pragyaan (the Sanskrit word for wisdom) was carried to the Moon in the Vikram lander’s belly.
• The landing coincides with the start of a lunar day – a day on the Moon equals a little over four weeks on Earth and this will mean the lander and rover will have 14 days of sunlight to charge their batteries.
• The landing came just days after Russia’s Luna-25 spacecraft spun out of control and crashed into the Moon.
• India’s second lunar mission, which also attempted to soft-land there in 2019, was unsuccessful – its lander and rover were destroyed, though its orbiter survived.
• Chandrayaan’s maiden mission was in 2008.
• Project Director of Chandrayaan 3: P Veeramuthuvel.
• Project Cost: Rs. 615 crores

About Vikram Lander:

• The ‘Vikram’ lander module of the spacecraft successfully separated from the propulsion module on August 17. The Vikram lander stands about 2 meters tall and has a mass of just over 1,700 kg. It is named after Vikram Sarabhai – widely regarded as the father of the Indian space programme.

About Pragyan Rover:

• The six-wheeled robotic vehicle ‘Pragyan’ translates to ‘wisdom’ in Sanskrit. Weighing 26 kgs, the rover has instruments configured with payloads to provide data related to the Moon’s surface and will study the elemental composition of the atmosphere.
• United States Food and Drug Administration Approves the first  Pfizer’s maternal vaccine for Pregnant Individuals to Prevent RSV in Infants
• The United States (US) Food and Drug Administration (FDA) approved Abrysvo (Respiratory Syncytial Virus Vaccine), the first vaccine approved for use in pregnant individuals to prevent lower respiratory tract disease (LRTD) and severe LRTD caused by respiratory syncytial virus (RSV) in infants from birth through 6 months of age.
• Pfizer has developed this respiratory syncytial virus vaccine.
• With this, the United States (US) became the 1st country to approve a vaccine for pregnant women that prevents severe disease caused by RSV in their babies.

Key Highlights :

• The Pfizer shot, which was already approved for use in older adults, has now been greenlighted for use as a single injection from 32 through 36 weeks of pregnancy, to protect infants from birth through 6 months.
• This approval provides an option for healthcare providers and pregnant individuals to protect infants from this potentially life-threatening disease.

Clinical Trial Results :

• The FDA approval followed a clinical trial involving around 7,000 pregnant women.
• The clinical trial demonstrated that Pfizer’s Abrysvo vaccine reduced severe RSV-related disease by 82% in infants aged 0-3 months and by 69% in infants aged 0-6 months.

Precautions and Side Effects :

• A notable consideration is the occurrence of pre-eclampsia, a dangerous blood pressure disorder.
• Among pregnant individuals who received Abrysvo, the incidence of pre-eclampsia was 1.8%, slightly higher than the 1.4% on a placebo.

What is RSV?

• RSV is a highly contagious virus that causes respiratory infections in individuals of all age groups.
• It is the most frequent cause of lower respiratory tract illness in infants worldwide

Recent News :

• In July 2023, FDA approved an antibody treatment called Beyfortus, developed by Sanofi and AstraZeneca, as a preventative treatment that works like a vaccine to protect babies and toddlers.

About FDA :

• Established : June 30, 1906
• Headquarters : United States
• The United States Food and Drug Administration (FDA or US FDA) is a federal agency of the Department of Health and Human Services.

CURRENT AFFAIRS: SPORTS NEWS

Arunachal Pradesh League launched in New Delhi

• Arunachal Pradesh League has been launched in New Delhi.
• A new ball game aims to replicate the cheers of the fans in the North East, from the football fields to the cricket pitch.
• It has the support of BCCI, Arunachal Cricket Association, and various State bodies, aiming to give cricket a much-needed boost in the hills.
• Set to start from the 8th of September it will feature five teams playing 13 matches with the summit clash on the 16th of next month.
• The league has high hopes, wanting to nurture talents from Arunachal Pradesh and the North East.

World wrestling body suspends Wrestling Federation of India for not conducting elections

• The United World Wrestling (UWW) has suspended the Wrestling Federation of India (WFI) with immediate effect for failing to conduct elections on time.
• The move will not allow Indian grapplers to compete at the upcoming World Championships under the Indian flag.
• The Indian wrestlers will have to compete as ‘neutral athletes’ at the Olympic-qualifying World Championships starting September 16.
• The Indian Olympic Association (IOA) had appointed the ad-hoc panel on April 27 and the committee was supposed to hold elections within 45 days.
• But ad-hoc panel failed to honour the 45-day deadline for conducting the elections.

Indian shooter Amanpreet Singh clinches gold medal in Men’s 25 metre standard pistol event at ISSF World Championship 2023 in Azerbaijan

• Indian shooter Amanpreet Singh won the gold medal in Men’s 25-metre standard pistol shooting event at the ISSF World Championship 2023 in Baku, Azerbaijan.
• In the Women’s 25 metre Standard Pistol shooting event, while Tiyana, Yashita Shokeen and Kritika Sharma failed to make it to the medal round in the individual competition, they managed to win the team bronze with a combined score of 1601.
• The two medals on the day took India’s tally in the Championship to nine – five gold and four bronze medals.

Sports Minister Anurag Thakur announces Khelo India Women’s League will officially be known as Asmita Women’s League

• The Union Minister for Youth Affairs and Sports Anurag Singh Thakur has announced that the Khelo India Women’s League will officially be known as the Asmita Women’s League.
• ASMITA refers to Achieving Sports Milestone by Inspiring Women Through Action.
• In a Social Media Post, Mr Thakur appreciated the entire team of Khelo India for conceptualizing the idea and developing Asmita Portal and new logo saying that it a significant stride towards the digitalization of Indian Sports.
• The Asmita Portal serves as a comprehensive resource, offering valuable insights into upcoming leagues among other features.
• It will enable any school, college, government, or private organization to host the ‘Asmita Women’s League’ and be part of Khelo India’s march towards sporting excellence.
• Mr Thakur added that the Government’s resolute commitment to bolstering women’s sports has paved the way for enhanced opportunities, facilities, and world-class infrastructure at elite and grassroots levels.

CURRENT AFFAIRS : OBITUARIES

World’s most eminent statisticians Calyampudi Radhakrishna Rao Passed away                  

• An esteemed Indian-American mathematician and statistician Calyampudi Radhakrishna Rao, commonly known as C. R. Rao passed away at the age of 102.

About Dr C.R Rao :

• Dr C.R Rao born on September 10, 1920, in Hadagali, a town in the present-day Karnataka state of India.
• Rao pioneered several fundamental statistical concepts such as the Cramer–Rao inequality and Rao–Blackwellization, concepts that appear in undergraduate textbooks on statistics and econometrics.
• He was instrumental in developing research and training programs at Indian Statistical Institute (ISI).
• He served as the President of several prestigious organizations, including The Indian Econometric Society (TIES), the International Biometric Society (IBS), the Institute of Mathematical Statistics (IMS), and the International Statistical Institute (ISI).
• He served as chairman of the Committee on Statistics (1962-69), chairman of the Demographic and Communication for Population Control (1968-69), chairman of the Committee on Mathematics, Atomic Energy Commission, AEC (1969-78), member of the Committee on Science and Technology, COST (1969-71).
• The American Statistical Association hailed him as a “living legend” whose work influenced fields like economics, genetics, anthropology, demography, and medicine.
• He was also a Senior Policy and Statistics advisor for the Indian Heart Association non-profit focused on raising South Asian cardiovascular disease awareness.

Notable Works :

• R. Rao authored 14 books and around 350 research papers, covering a wide range of topics in statistics and mathematics.

Awards & Honors :

• In 2023, he was awarded the International Prize in Statistics, often referred to as the “statistics’ equivalent of the Nobel Prize.”
• He received the prestigious Padma Bhushan (1969) and Padma Vibhushan (2001) awards, the highest civilian honours in India.
• He became a Fellow of the National Academy of Sciences (USA) and received the National Medal of Science, the highest scientific award in the United States.
• The Institute of Combinatorial Mathematics and its Applications recognized him as an Honorary Member for his expertise in statistical design theory.

Daily CA One- Liner: August 25

• On World Senior Citizens Day (Aug 21, 2023), Punjab National Bank (PNB), the nation’s leading public sector bank, has introduced the “Pensioner’s Lounge”, a dedicated space within the branch that serves pensioners and senior citizens with all their banking needs.
• SBI Life Insurance, one of the most trusted private life insurance companies in the country, launched its dedicated 24X7 inbound contact centre through toll-free number 18002679090 to address before and after purchase queries related to comprehensive insurance solutions provided by the company.
• International Finance Corporation (IFC),a member of the World Bank Group is set to invest up to $100 million in IIFL Home Finance Limited (IIFL HFL), a leading housing finance company, in a move aimed at increasing access to housing finance for economically weaker sections (EWS) and low-income groups (LIG), including women borrowers in India.
• The Central Vigilance Commission (CVC) has reconstituted the New Delhi headquartered Advisory Board on Banking and Financial Frauds (ABBFF) to address fraudulent activities in the banking and financial sectors.
• CAMSfinserv, one of the first RBI licensed Account Aggregators (AA) in India, has onboarded all 17 Asset Management Companies serviced by CAMS as financial information providers on the AA platform, making it the 1st in the industry to provide access to mutual fund data.
• Cleartrip, a subsidiary of Flipkart, has joined forces with Axis Bank, a prominent private sector bank in India, to introduce an innovative travel proposition for Axis Bank credit cardholders.
• Bank of Baroda (BoB), a state-owned bank, has launched the ‘Video Re-KYC’ service to simplify the periodic update of customer identity documents.
• Former real estate tycoon Srettha Thavisin of Pheu Thai Party (PTP) has been elected as the 30th Prime Minister of Thailand, succeeding Prayuth Chan-Ocha who retired from politics in July 2022.
• Neelkanth Mishra, Chief Economist at Axis Bank and Head of Global Research at Axis Capital, has been appointed as part-time chairperson of Aadhaar-issuing body Unique Identification Authority of India (UIDAI).
• The United States (US) Food and Drug Administration (FDA) approved Abrysvo (Respiratory Syncytial Virus Vaccine), the first vaccine approved for use in pregnant individuals to prevent lower respiratory tract disease (LRTD) and severe LRTD caused by respiratory syncytial virus (RSV) in infants from birth through 6 months of age.
• An Indian-American mathematician and statistician Calyampudi Radhakrishna Rao, commonly known as C. R. Rao passed away at the age of 102.
• Deendayal Port Authority (DPA), a leading Major Port on the West Coast of India in Gujarat, is signing a concession agreement for the development, operation and maintenance of a new mega container terminal at Tuna-Tekra, Gujarat (near Kandla) with DP World, a multinational logistics company based in Dubai, United Arab Emirates.
• India has created history as it became the first country to land on the South Pole of lunar surface. 
• Government will launch Tele-Law – 2.0 which Integrates Tele-Law and Nyaya Bandhu App to ensure access to Justice in New Delhi.
• The 26th National Conference on e-Governance began in Indore to deliberate on providing better facilities to the citizens.
• The B20 Summit India 2023 will commence in New Delhi.
• The Ministry of Skill Development and Entrepreneurship, Government of India, in collaboration with the Australian Government, successfully hosted a roundtable on “Enhancing Health Workforce Training and Skill Pathways” on August 21, 2023, in New Delhi.
• The Union Minister of Ports, Shipping & Waterways and Ayush Shri Sarbananda Sonowal attended the Memorandum of Understanding (MoU) signing ceremony between Inland Waterways Authority of India (IWAI) and Numaligarh Refinery Limited (NRL) to use National Waterways-2 (Brahmaputra) and Indo Bangladesh Protocol Route (IBPR) for export of petroleum products to Bangladesh and other south-east Asian countries in Guwahati, Assam
• Arunachal Pradesh League has been launched in New Delhi.
• The United World Wrestling (UWW) has suspended the Wrestling Federation of India (WFI) with immediate effect for failing to conduct elections on time.
• Indian shooter Amanpreet Singh won the gold medal in the Men’s 25-metre standard pistol shooting event at the ISSF World Championship 2023 in Baku, Azerbaijan.
• Union Minister for Youth Affairs and Sports Anurag Singh Thakur has announced that the Khelo India Women’s League will officially be known as the Asmita Women’s League