Daily Current Affairs August 11

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs August 11. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

TO PURCHASE OUR BANKING AWARENESS (8021 Edition) – CLICK HERE

August 11| Daily Current Affairs 2023

Important Days – Daily Current Affairs August 11

1. What date has been officially designated as World Steelpan Day?
A) July 15
B) September 3
C) October 20
D) August 11
E) November 28
Answer: D) August 11

• August 11 has been officially designated World Steelpan Day.
• The United Nations made the declaration at the 77th Session of the United Nations General Assembly in New York.
• Introducing the resolution for determining World Steelpan Day before the General Assembly, Randall Mitchell, Trinidad and Tobago’s Minister of Tourism, Culture and the Arts, said the steelpan represents much more than musical versatility to the people of T&T where it was born.
• Stating that In 2019, Port of Spain, the capital city of Trinidad and Tobago, was designated as a UNESCO Creative City of Music for its creativity through the Steelpan as a strategic component for sustainable urban development
• First Edition: 2023
• The draft resolution received co-sponsorship from 84 member states of the General Assembly.
• August is Steelpan Month in T&T.

---

Obituary – Daily Current Affairs August 11

2. Who recently passed away, known for their contributions as a nuclear physicist?
A) Bikash Sinha
B) Rajesh Sharma
C) Anjali Kapoor
D) Rahul Verma
E) Sneha Patel
Answer: A) Bikash Sinha

• Renowned nuclear physicist Bikash Sinha died in Kolkata
• A recipient of Padma Shri in 2001 and Padma Bhusan in 2010
• Sinha specialized in nuclear physics, high energy physics, Quark Gluon Plasma and early universe cosmology.
• He led the Indian team for the first time to participate in the experiments at the European Organization for Nuclear Research in Geneva.
• Sinha was the director of the Variable Energy Cyclotron Centre and the Saha Institute of Nuclear Physics and a fellow of the Indian National Science Academy.
• Sinha had lived in England for around 12 years and after coming back to India he joined the Bhabha Atomic Research Centre in 1976.
• In 1987 he was appointed the director of the Variable Energy Cyclotron Centre. He held the concurrent charge as director of the Saha Institute of Nuclear Physics till 2009.
• He was conferred by the West Bengal government the state’s highest award ‘Bangabibhushan’ in 2022 and also the ‘Rabindra Smriti Puraskar’ in the same year

---

Banking and Finance – Daily Current Affairs August 11

3. What was the amount of the monetary penalty imposed by the Reserve Bank on The Tapindu Urban Co-operative Bank Limited, Patna?
A) ₹10,000
B) ₹50,000
C) ₹1,00,000
D) ₹2,00,000
E) ₹5,00,000
Answer: C) ₹1,00,000

• The Reserve Bank has imposed monetary penalties on four co-operative banks—one from Bihar and three others from Maharashtra—for deficiencies in regulatory compliance.
• These banks are Tapindu Urban Co-operative Bank Limited, Islampur Urban Co-operative Bank Limited, Mahabaleshwar Urban Co-operative Bank Limited, and Mangal Co-operative Bank Limited.
• The Reserve Bank imposed a monetary penalty of ₹1,00,000 on The Tapindu Urban Co-operative Bank Limited, Patna for non-compliance with the directions issued by RBI on ‘Exposure Norms and Statutory / Other Restrictions – UCBs’.
• The Islampur Urban Co-operative Bank Limited, Maharashtra was penalised of ₹2.00 lakh for non-compliance with certain provisions the Banking Regulation Act, 1949 and certain provisions of the ‘Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016’ and ‘Maintenance of Deposit Accounts-UCBs’.
• The bank had not transferred the eligible amount to Depositor Education and Awareness Fund (DEAF) and had not conducted periodic review of risk categorisation of its customers as well as annual review of inoperative accounts.
• The Mahabaleshwar Urban Co-operative Bank Limited, Maharashtra was also penalised of ₹2.00 lakh for non-compliance for contravention of certain provisions Banking Regulation Act, 1949 (BR Act), specific directions issued by RBI under Supervisory Action Framework (SAF), and directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’.
• The Co-operative bank had granted interest relief in a loan account of its ex-director, sanctioned fresh loans and renewed CC limits of its borrowers despite SAF restrictions and had not conducted annual review of inoperative accounts and periodic review of risk categorisation of its customers.
• The apex bank imposed a monetary penalty of ₹1.00 lakh (Rupees One lakh only) on Mangal Co-operative Bank Limited, Mumbai (the bank) for non-compliance with the directions issued by RBI on ‘Maintenance of Deposit Accounts’ and ‘Know Your Customer (KYC)’.
• The bank had not conducted annual review of inoperative accounts and periodic review of risk categorisation of its existing customers.

---

4. What did the Indian Banks’ Association (IBA) establish in relation to banks operating in GIFT City?
A) Banking Oversight Task Force
B) Financial Innovation Council
C) International Banking Consortium
D) Sectoral Committee
E) Regulatory Compliance Board
Answer: D) Sectoral Committee

• The Indian Banks’ Association (IBA) announced the establishment of a sectoral committee for member banks operating within Gujarat International Finance Tec-City (GIFT City) in Gandhinagar.
• The IBA has formed the Sectoral Committee to address the distinct regulatory landscape and challenges faced by banks operating within GIFT City.
• This committee will serve as a link between the banking industry and regulators, ensuring effective communication and resolution of concerns and perspectives
• The Sectoral Committee’s immediate focus will be on exploring avenues to align GIFT City with other international financial hubs and identifying areas for improvement.
• Currently, 26 IBUs are registered in GIFT City. The sectoral committee will discuss operational matters at IFSC GIFT City, advocating for issues unique to IBUs.

---

5. What is the name of the subsidiary launched by Export-Import Bank of India (Exim Bank) at GIFT City?
A)GIFT Exim Solutions Limited
B) Exim City Finance Corporation
C) Exim Global IFSC Services
D) India Exim Finserve IFSC Private Limited
E) GIFT Exim Financial Ventures
Answer: D) India Exim Finserve IFSC Private Limited

• Export-Import Bank of India (Exim Bank), launched its subsidiary- India Exim Finserve IFSC Private Limited (Exim Finserve), at the GIFT City.
• Exim Finserve will extend a range of trade finance products to Indian exporters, with a primary focus on export factoring.
• Exim Finserve, or India Exim Finserve IFSC Private Limited, will extend a range of trade finance products to Indian exporters, with a primary focus on export factoring
• The subsidiary of Exim Bank was announced in the Union Budget 2023 by Union Finance Minister Nirmala Sitharaman and is one of the efforts to improve access to finance for MSMEs
• Exim Finserve is the first finance company in GIFT City in the area of export factoring.

---

6. Which entity has received approval from Sebi (Securities and Exchange Board of India) to initiate itsmutual fund business?
A) Solar Investment Group
B) Luna Asset Management
C) Stellar Financial Services
D) Helios Capital
E) Cosmos Fund Management
Answer: D) Helios Capital

• Helios Capital has received capital markets regulator Sebi’s approval to launch a mutual fund business
• Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021.
• In September 2022, Helios Capital received Sebi’s in-principle approval to float the mutual fund business.
• Earlier this year, diversified financial services group Bajaj Finserv entered the highly competitive mutual funds business.

---

7. Which organizations are collaborating to provide financial education to underprivileged individuals?
A) PayPal and Skillshare Institute
B) Mastercard and Social Upliftment Foundation
C) Visa and Empowerment Learning Center
D) PayU and CSC Academy
E) American Express and Community Development Trust
Answer: D) PayU and CSC Academy

• A joint initiative to improve digital and financial literacy among the weak and underprivileged segments of society, particularly SC-ST, BPL, and women, has been launched by PayU India, a leading online payment service provider in the country, and CSC Academy, an SPV of the Ministry of Electronics & IT
• This campaign would provide people between the ages of 15 and 60 with financial and digital literacy instructions as well as other civic services via mobile vans stationed in and around three districts in Delhi/Gurugram, Mumbai, and Bengaluru. The program runs from July 1 2023 to June 30, 2024.
• Its main objective is to improve the standard of living for an expanding number of people by including them in the Government of India’s Digital India plan.
• PayU is India’s leading online payment solutions provider, & has empowered 5 lakh+ businesses, including leading enterprises, e-commerce giants and SMBs.

---

Acquisitions and Mergers – Daily Current Affairs August  11

8. What percentage stake in Max Life Insurance is Axis Bank and its subsidiaries planning to acquire?
A) 3%
B) 5%
C) 7%
D) 10%
E) 12%
Answer: C) 7%

• Axis Bank, along with its subsidiaries announced to acquire the remaining 7 percent stake in Max Life Insurance.
• Acquisitions, Divestments and Merger Committee has approved infusion of Rs 1,612 crore in Max Life through preferential allotment.
• The combined weight of Axis Bank, Axis Securities, and Axis Capital has already provided them with a significant 12.02 percent stake in Max Life.
• With the acquisition of the additional 7 percent stake, the collective holdings of Axis Entities will surge to a slightly over 19.02 percent stake in Max Life.
• Notably, this strategic move will also see an increase in Axis Bank’s direct stake in Max Life to 16.22 percent.

---

Appointments – Daily Current Affairs August 11

9. Who has been elected as a vice-chair of the Intergovernmental Panel on Climate Change (IPCC) and is renowned for expertise in the Asian elephant?
A) Rajesh Sharma
B) Anjali Kapoor
C) Raman Sukumar
D) Sanjay Verma
E) Meera Patel
Answer: C) Raman Sukumar

• Raman Sukumar, an authority on the Asian elephant, has been elected a vice-chair of the Intergovernmental Panel on Climate Change (IPCC) during the recent election held at the United Nations Environment Programme headquarters in Nairobi from July 25-28, 2023.
• Sukumar was elected as a member of the Working Group II Vice-Chairs. He is now part of the new IPCC Bureau comprising 34 members, including the new IPCC Chair and three Vice-Chairs.
• The Panel also elected the 12 members of the Task Force Bureau on National Greenhouse Gas Inventories (TFI).
• Mazhar Hayat of Pakistan was elected as a co-chair of the same.
• Maheswar Rupakheti of Nepal was elected as one of the Working Group I Vice-Chairs.
• The IPCC also elected James Ferguson ‘Jim’ Skea of the United Kingdom as its Chairman.
• He became a member of the Project Elephant Steering Committee, which provided technical support and advice on matters of elephant conservation to the Indian government in 1993.
• Sukumar chaired the Asian Elephant Specialist Group of the World Conservation Union from 1997 to 2004. He also served as director of the Asian Elephant Research and Conservation Centre, a special division of the Asian Nature Conservation Foundation, an independent organisation that he had helped to establish in 1997.
• Sukumar has been awarded the Presidential Award of the Chicago Zoological Society in 1989, the Order of the Golden Ark in 1997, the Whitley Gold Award in 2003 and with the International Cosmos Prize in 2006.

---

Science and Technology – Daily Current Affairs August 11

10. Where was the autonomous underwater vehicle (AUV) launched by GRSE (Garden Reach Shipbuilders & Engineers) located?
A) Mumbai
B) Chennai
C) Kolkata
D) New Delhi
E) Bangalore
Answer: C) Kolkata

• A lightweight autonomous underwater vehicle (AUV) used in mine countermeasure operations by armed forces was launched at the Garden Reach Shipyard in Kolkata
• Developed by Kolkata-based Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd in collaboration with M/s Aerospace Engineering Private Ltd. (AEPL) in Tamil Nadu, the man-portable AUV is 2.15m long, has an endurance of nearly 4 hours, and is capable of operating up to a depth of 300m.
• These AUVs make excellent reusable targets during Anti-Submarine Warfare (ASW) practices by warships and can also be deployed for passive acoustic monitoring during which they could remain in position for prolonged durations, monitoring the possible movement of sub-surface platforms.
• Named “Neerakshi” meaning “Eyes in the Water”, the AUV was launched by Samir V Kamat, Secretary, Defence Research & Development (DR&D) and Chairman, Defence Research and Development Organisation (DRDO). Cmde PR Hari IN (Retd.), Chairman and Managing Director, GRSE, and other Senior officials of Indian Armed Forces, GRSE and AEPL were present on the occasion.

---

11. How many Starlink internet satellites did SpaceX Falcon 9 launch to orbit?
A) 10
B) 15
C) 18
D) 20
E) 22
Answer: E) 22

• SpaceX launched a new batch of Starlink satellites to low-Earth orbit.
• The Falcon 9 launch vehicle carrying 22 Starlink internet satellites lifted off from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station in Florida.
• Falcon 9’s first stage landed on the Just Read the Instructions droneship stationed in the Atlantic Ocean.
• This was the ninth flight for the first stage booster supporting this mission, which previously launched CRS-24, Eutelsat HOTBIRD 13F, OneWeb 1, SES-18 and SES-19, and four Starlink missions.

---

12. Which country recently launched the Luna-25 moon lander, marking its first lunar probe in 47 years?
A) China
B) United States
C) India
D) Russia
E) European Union
Answer: D) Russia

• The Russian space agency, Roscomos, launched the Luna-25 lander aboard a Soyuz 2.1b rocket that blasted off from the launch pad at the Vostochny Cosmodrome
• The country successfully launched its first lunar lander in 47 years, marking a significant milestone in its space program.
• The spacecraft lifted off from the Vostochny Cosmodrome in Amur Oblast and is expected to reach lunar orbit by August 16 and make a landing on the Moon’s surface on August 21-22.
• The primary objective of Luna-25 is to collect samples of moon rock and dust. These samples are crucial for understanding the lunar environment before any potential base construction.
• Luna-25 is the first Russian Moon mission in nearly five decades. Russia launched its last Moon mission in 1976.
• India’s Chandrayaan-3, which blasted off into space on July 14, is also aiming to be the first spacecraft to land on the Lunar South Pole with expected landing on August 23-24.
• The spacecraft, roughly the size of a small car, will operate for a year on the moon’s south pole. Scientists have detected traces of water ice in the region’s shadowed craters, making it a prime location for future lunar bases.

---

National Affairs – Daily Current Affairs August 11

13. What is the name of the initiative launched by the World Economic Forum (WEF), Indian Institute of Science (IISc, Bengaluru), and Telangana Government to boost agricultural production using data?
A) AgriBoost
B) FarmData Connect
C) Agriculture Data Exchange (ADeX)
D) AgriTech Collaboration
E) CropData Initiative
Answer: C) Agriculture Data Exchange (ADeX)

• In a first-of-its-kind initiative, the World Economic Forum (WEF), Indian Institute of Science (IISc, Bengaluru) and Telangana Government have launched an Agriculture Data Exchange (ADeX) to boost agricultural production, putting to use enormous data that stakeholders in the primary sector generate.
• The exchange will connect with stakeholders to build a digital public infrastructure (DPI), which will facilitate start-ups and other stakeholders, to access data and develop solutions for farmers.
• The ADeX and ADMF (Agriculture Data Management Framework), which governs how the data should be managed, were formally launched by Telangana IT and Industries Minister K T Rama Rao
• The exchange is an open source, open standard and interoperable public good, democratising access to data and enabling the public and private sector to build applications and deliver services to benefit society.
• The software platform facilitates the secure, standards-based exchange of data between agricultural data users and agricultural data providers.
• In Phase-I of the project, the ADeX Platform has been deployed in Khammam district, and over a period, will be expanded to the entire State.

---

14. What event did Tamil Nadu Chief Minister MK Stalin unveil the logo for, which is scheduled to be held on January 7 and 8, 2024?
A) Tamil Nadu Investment Summit
B) Tamil Nadu Economic Forum
C) Tamil Nadu Global Business Expo
D) Tamil Nadu Investors Meet
E) Tamil Nadu Investment Conclave
Answer: D) Tamil Nadu Investors Meet

• Tamil Nadu Chief Minister MK Stalin unveiled the ‘logo’ for the State government’s ambitious Global Investors Meet scheduled to be held on January 7 and 8 in 2024
• It symbolises the Tamil word ‘Tha’ depicting mother tongue Tamil and also the state—Tamil Nadu flourishing in all parameters.

---

15. What collaborative initiative was successfully launched by Atal Innovation Mission (AIM), NITI Aayog, Indian Space Research Organisation (ISRO), and Navars Edutech?
A) National Science Olympiad
B) National Robotics Championship
C) National Space Innovation Challenge 2023
D) National Coding Competition
E) National Environmental Awareness Campaign
Answer: C) National Space Innovation Challenge 2023

• Atal Innovation Mission, Niti Aayog, in collaboration with Indian Space Research Organisation and Navars Edutech has launched the National Space Innovation Challenge, NSIC 2023, for students of Classes 5 to 12.
• The contest aims to foster innovation and curiosity among school students and provide them with a platform to solve modern-day space technology problems.
• Students can submit their entries on the link, navarsedutech.com, from August 11 to September 20.
• Students will have to select one of the problems that falls under any one of the challenge themes
• NSIC offers integrated content from industry mentor videos, resources and challenges for ‘junior scientists’ (Classes 5 to 8) and ‘senior scientists’ (Classes 9 to 12) which students can use to ideate and submit a short research report. Students can choose from topics such as space junk collection robot, reusable rocket design, satellite design and Indian spaceship design for Mars.

---

16. In which network did the Central Bureau of Investigation (CBI) Academy recently join at a virtual event?
A) United Nations Academy Network
B) International Law Enforcement Training Network
C) World Police Academy Consortium
D) Interpol Global Academy Network
E) Global Investigative Alliance
Answer: D) Interpol Global Academy Network

• The Central Bureau of Investigation (CBI) Academy joined the Interpol Global Academy Network at a virtual event.
• The network supports academic collaboration among law enforcement training institutions across the world.
• The event was organised by the agency and the Singapore-based Interpol Global Complex for Innovation. The Letter of Acceptance was signed by Mohit Gupta, Deputy Inspector-General (Training), CBI Academy, and his counterpart at Interpol, Glenn Martindale, Director (capacity building & training directorate).
• The CBI Academy had become the 10th member of Interpol Global Academy Network.
• Since 2005, it has imparted training to over 50,000 police officers, including around 1,432 foreign nationals from SAARC nations, Africa, South East Asia, Central Asia and West-Asia.
• Several programmes have been conducted in collaboration with foreign agencies such as U.S. Department of Homeland Security, Federal Bureau of Investigation, French Embassy, National Cyber Crime Unit and National Crime Agency (United Kingdom), Interpol and Royal Canadian Mounted Police (Canada)

---

17. Where was the launch program for the Indian Web Browser Development Challenge (IWBDC) organized by the Ministry of Electronics & Information Technology (MeitY)?
A) Bangalore International Exhibition Centre, Bengaluru
B) Pragati Maidan, Mumbai
C) India Habitat Centre, New Delhi
D) Chennai Trade Centre, Chennai
E) Kolkata Convention Centre, Kolkata
Answer: C) India Habitat Centre, New Delhi

• Ministry of Electronics & Information Technology (MeitY) launched the Indian Web Browser Development Challenge (IWBDC) in Launch Programme organized at India Habitat Centre, New Delhi.
• Smt. Sunita Verma, Scientist G & Group Coordinator (R&D in Electronics & Information Technology), Shri Arvind Kumar, Controller of Certifying Authorities, MeitY and Dr. S. D. Sudarshan, Executive Director C-DAC, Bangalore jointly launched the browser development challenge. The challenge brochure was also unfolded by the dignitaries on the dais.
• The Indian Web Browser Development Challenge is spearheaded by MeitY, CCA and C-DAC Bangalore.
• The IWBDC is an Open Challenge Competition that seeks to inspire and empower technology enthusiasts, innovators, and developers from all corners of the country to create an indigenous web browser with its own trust store with an inbuilt CCA India root certificate, cutting edge functionalities and enhanced security & data privacy protection features.
• Proposed browser would also focus on accessibility and user friendliness, ensuring built-in support for individuals with diverse abilities. Moreover, the browser envisions the ability to digitally sign documents using a crypto token, bolstering secure transactions and digital interactions
• The programme was participated by more than 200 participants from government departments, industry, start-up and academia through on-line and off-line mode. A panel discussion was also organized wherein the queries of the participants were answered by MeitY, CCA and C-DAC officials.

---

18. Amazon India recently signed a Memorandum of Understanding (MoU) with which organizations to promote e-commerce exports from the state of Gujarat?
A) National Institute of Technology (NIT), Gujarat
B) Gujarat Chamber of Commerce and Industry (GCCI)
C) Indian Institute of Management (IIM), Ahmedabad
D) Entrepreneurship Development Institute of India (EDII) and the Cottage and Rural Industries Department, Government of Gujarat
E) Federation of Indian Export Organizations (FIEO), Gujarat Chapter
Answer: D) Entrepreneurship Development Institute of India (EDII) and the Cottage and Rural Industries Department, Government of Gujarat

• Amazon India has signed a Memorandum of Understanding (MoU) with the Entrepreneurship Development Institute of India (EDII) and the Cottage and Rural Industries Department, Government of Gujarat, to help drive e-commerce exports from the state.
• Amazon will focus on bringing weavers, artisans and other micro, small and medium enterprises (MSMEs) from Gujarat on Amazon Global Selling, the e-commerce exports programme.
• Amazon and EDII will conduct hybrid (in-person and online) training sessions and workshops on B2C e-commerce exports, educating the artisans on registering and listing their products to sell on more than 18 Amazon Global Marketplaces and tools for making exports easier
• The Cottage and Rural Industries Department will identify about 1,000 artisans in handloom and handicrafts through its Hastkala Setu Yojana programme

---

19. Who inaugurated the 9th India International MSME Expo and Summit 2023 in New Delhi?
A) Narendra Modi
B) Amit Shah
C) Rajnath Singh
D) Manoj Sinha
E) S. Jaishankar
Answer: D) Manoj Sinha

• Lieutenant Governor Manoj Sinha inaugurated the 9th India International MSME Expo and Summit 2023 in New Delhi.
• The Lt Governor commended the MSME Development Forum for its endeavours to bring together policymakers and entrepreneurs for the promotion of Micro, Small & Medium Enterprises.
• Initiatives such as MSME Expo, trade fairs provide an important platform to spread awareness about government schemes, policies and to explore new business opportunities in the sector
• For the promotion of Micro, Small & Medium Enterprises, the UT Administration had also taken an important decision and increased the total procurement of Government Departments and Public Sector Undertakings from MSMEs to 25 percent
  More than 40 exhibitors, supported by JKTPO, are participating in the 9th India International MSME Expo & Summit 2023, showcasing their innovative products, services, and solutions across diverse sectors.
• The Lt Governor also launched the One District One Product (ODOP) Box of J&K UT

---

---

Over All Review

DOWNLOAD TODAY’S CURRENT AFFAIRS PDF – CLICK HERE

You Must Also Read Daily Current Affairs August 10