Daily Current Affairs August 22

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August 22| Daily Current Affairs 2023

Sports – Daily Current Affairs August 22

1. In October, which city will host the Asian Champions Trophy 2023 for women’s hockey?
A) New Delhi
B) Mumbai
C) Kolkata
D) Ranchi
E) Chennai
Answer: D) Ranchi

• Following the successful conduct of the men’s event in Chennai, India will next host the Asian Champions Trophy hockey tournament for women for the first time, in Ranchi from October 27 to November 5 this year.
• The seventh edition of the tournament will be a joint venture between Hockey India and the Government of Jharkhand.
• Besides India, defending champion Japan, runner-up Korea, China, Malaysia and Thailand are expected to participate in the tournament.
• India ended up as runners-up in 2013 and 2018, losing to Japan and South Korea, respectively.
• The team finished third in the first edition in 2010 in South Korea.
• Ranchi has previously hosted numerous Hockey India League matches from 2012 to 2015

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Banking and Finance – Daily Current Affairs August 22

2. The Central Vigilance Commission has reconstituted an advisory board focused on what aspect of governance?
A) Financial Audits
B) Corporate Ethics
C) Information Security
D) Bank Frauds
E) Cybersecurity
Answer: D) Bank Frauds

• The Central Vigilance Commission (CVC) has reconstituted the advisory board on Banking and Financial Frauds (ABBFF) that conducts the first level examination of bank frauds before recommendations or references are made to investigative by agencies such as Central Bureau of Investigation (CBI).
• The reconstituted APBFF will be chaired by Suresh N Patel, former Central Vigilance Commissioner.
• Besides the Chairman, there are four Members and the tenure of the Chairman/ Members would be for two years with effect from August 21
• The four Members of the advisory board are Ravikant, a retired IAS officer; Rajnikant Mishra, former Director General, BSF; David Rasquinha, former MD of Exim Bank; and ParthaPratimSengupta, former MD & CEO of Indian Overseas Bank.
• The ABBFF has been empowered to examine the role of officials/ wholetime directors (including ex-officials/ ex-wholetime directors) in public sector banks, public sector insurance companies; and public sector financial institutions in case of frauds amounting to ₹ 3 crore and above.
• ABBFF has also been empowered to periodically carry out frauds analysis in the financial system and give inputs, if any, for policy formulation related to the frauds, to RBI and CVC.
• The ABBFF — which will be headquartered in New Delhi — will have to ordinarily, within a month of receipt of the initial reference, tender the advice as may be requisitioned by the Ministry/Department/CVC or the investigation agency ( including the Delhi Special Police Establishment)

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3. DBS Bank India has partnered with which five top badminton stars in India to boost its brand presence and connect with a diverse audience?
A) P. V. Sindhu, SainaNehwal, Kidambi Srikanth, B. Sai Praneeth, and Ashwini Ponnappa
B) Lakshya Sen, SatwiksairajRankireddy, Chirag Shetty, Treesa Jolly, and Gayatri Gopichand
C) SainaNehwal, ParupalliKashyap, P. V. Sindhu, Chirag Shetty, and SatwiksairajRankireddy
D) Kidambi Srikanth, SainaNehwal, P. V. Sindhu, Ashwini Ponnappa, and B. Sai Praneeth
E) P. V. Sindhu, Kidambi Srikanth, SainaNehwal, Ashwini Ponnappa, and Chirag Shetty
Answer: B) Lakshya Sen, SatwiksairajRankireddy, Chirag Shetty, Treesa Jolly, and Gayatri Gopichand

• DBS Bank India has announced its partnership with five of India’s top badminton stars –- Lakshya Sen, SatwiksairajRankireddy, Chirag Shetty, Treesa Jolly, and Gayatri Gopichand –- to enhance its brand presence in the country and connect with its diverse audience
• The partnership has kicked off with an outdoor campaign and will further reach out to both customers and employees through the bank’s social media platforms, official website, and internal platforms, as well as throughout its branch network
• The partnership took place via the sports marketing firm Baseline Ventures which represents the badminton stars, who have consistently climbed the global rankings, carving a niche for themselves on the international stage.
• DBS is a leading financial services group in Asia with a presence in 19 markets, headquartered and listed in Singapore.

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4. Bank of Baroda (BoB) has introduced what service to facilitate ‘know your customer’ (KYC) updates without requiring customers to visit a bank branch?
A) Virtual Banking Experience
B) Online Account Opening
C) Video Re-KYC
D) Mobile Banking App
E) Bank Identity Verification (BIV) System
Answer: C) Video Re-KYC

• State-owned Bank of Baroda launched ‘Video Re-KYC’ which will give individual resident customers an alternative way to complete the periodic updation of their ‘know your customer’ (KYC) documents without having to physically visit the branch.
• 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.
• In the first stage, customers have to visit the BoB website and complete the online Re-KYC application by submitting some basic information.
• 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.
• The roll-out of the video Re-KYC facility makes the process much simpler, more convenient and elevates the entire customer experience.
• 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.

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5. Jharkhand Police has signed a Memorandum of Understanding (MoU) with which bank for a salary package?
A) HDFC Bank
B) Axis Bank
C) ICICI Bank
D) Punjab National Bank
E) State Bank of India (SBI)
Answer: E) State Bank of India (SBI)

• A memorandum of understanding (MoU) was inked between Jharkhand Police and State Bank of India (SBI) to provide additional benefits to police personnel and officials as part of their salary package.
• It provides accidental insurance cover of Rs 50 lakh, air accidental cover of Rs 1 crore, Rs 50 lakh in case of permanent disability and Rs 30 lakh for partial disability.

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Acquisitions and Mergers – Daily Current Affairs August  22

6. The Life Insurance Corporation of India (LIC) has purchased a 6.66% stake in which company’sfinancial services arm?
A) Reliance Industries Limited (RIL)
B) JioInfocomm Limited
C) Jio Financial Services Ltd. (JFSL)
D) Reliance Capital Limited
E) Jio Payments Bank
Answer: C) Jio Financial Services Ltd. (JFSL)

• Life Insurance Corporation of India (LIC), the state-run insurance behemoth, announced that it has acquired 6.66% shareholding in Jio Financial Services Ltd. (JFSL).
• The cost of acquisition of JFSL shares, which was done through the demerger of the non-banking financial entity, is 4.68% of the pre-demerged cost of Reliance Industries as per the notice of the company dated July 19.
• LIC holds a 6.49% stake in Reliance Industries as of June 30, 2023.
• Jio Financial Services Limited (JFSL), formerly known as Reliance Strategic Investments Limited, the demerged financial arm of Reliance Industries, made its stock market debut on August 21.

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Appointments – Daily Current Affairs August 22

7. Neelkanth Mishra, Chief Economist with Axis Bank, has been appointed as the part-time Chairman of which government agency, after a hiatus of nearly four years?
A) SEBI (Securities and Exchange Board of India)
B) RBI (Reserve Bank of India)
C) UIDAI (Unique Identification Authority of India)
D) NITI Aayog (National Institution for Transforming India)
E) TRAI (Telecom Regulatory Authority of India)
Answer: C) UIDAI (Unique Identification Authority of India)

• After a gap of almost four years, the Government has appointed Neelkanth Mishra, Chief Economist with Axis Bank, as part-time Chairman of UIDAI.
• He will be the second non-bureaucrat after NandanNilekani to chair the unique ID body.
• The Government has also filled two members’ posts with the appointment of Kotak Mahindra AMC head Neelesh Shah and IIT Delhi Professor Mausam.
• He joined Axis Bank in May this year, after spending over two decades at Credit Suisse.
• Mishra’s appointment as the UIDAI’s part-time chairperson means that he is now a part of some of the most high-profile government offices; he is also a part-time member of the Economic Advisory Committee to the Prime Minister (PM-EAC); and a member of the advisory committee of the India Semiconductor Mission, which vets chip applications in India.
• The board of the UIDAI comprises a chairperson, two part-time members, and the chief executive officer, who is also the Member-Secretary of the Authority
• Amit Agrawal, former additional secretary at the IT Ministry, was appointed as the CEO of UIDAI in June, but the other positions had been lying vacant.

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8. Who has been appointed as the new chairperson of the National Green Tribunal, and was formerly the Chief Justice of the Calcutta High Court?
A) Justice Dipak Misra
B) Justice H. L. Dattu
C) Justice RanjanGogoi
D) Justice Prakash Shrivastava
E) Justice Sharad Arvind Bobde
Answer: D) Justice Prakash Shrivastava

• Justice Prakash Shrivastava, former Chief Justice of the Calcutta High Court, has been appointed as the new chairperson of the National Green Tribunal (NGT)
• On July 6, 2023, the Centre had appointed Justice Sheo Kumar Singh as the acting chairperson on the retirement of Justice Adarsh Kumar Goel.
• Justice Shrivastava was the Chief Justice of the Calcutta High Court from October 11, 2021, to March 30, 2023.
• Justice Shrivastava enrolled as an advocate on February 2, 1987. He practised in the Supreme Court and was appointed as judge of the High Court of Madhya Pradesh on January 18, 2008. He became a permanent judge on January 15, 2010.

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9. The central government has granted an extension of tenure to whom, as the Deputy Inspector General (DIG) in the Central Bureau of Investigation (CBI), until September of the following year?
A) Ramesh Sharma
B) Priya Kapoor
C) Mohit Gupta
D) AlokVerma
E) Neha Singh
Answer: C) Mohit Gupta

• The Centre extended the tenure of Mohit Gupta, Deputy Inspector General (DIG) in the Central Bureau of Investigation, till September next year
• Gupta is a 2006-batch Indian Police Service (IPS) officer of the Uttar Pradesh cadre.
• The competent authority has approved an extension of Gupta’s tenure as DIG, CBI, for a further period of one year from September 4, 2023 to September 3, 2024
• The tenures of Raguramarajan A and VidyutVikash –– both superintendents of police (SPs) — have also been extended.
• Raguramarajan, a 2012-batch IPS officer of the Nagaland cadre, has been given a two-year extension as the SP, CBI, from September 16, 2023 to September 15, 2025
• The tenure of Vikash, a 2008-batch officer of the Indian Revenue Service (customs and central excise), has been extended beyond September 1, 2023, till February 19, 2024

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10. The Election Commission (EC) has designated which cricketing legend as a “national icon” to promote and encourage greater voter participation in the electoral process?
A) ViratKohli
B) Rahul Dravid
C) Kapil Dev
D) SouravGanguly
E) Sachin Tendulkar
Answer: E) Sachin Tendulkar

• Cricketing legend Sachin Tendulkar is being designated as a “national icon” of the Election Commission (EC) to encourage greater voter participation in the electoral process.
• A memorandum of understanding will be signed between Sachin Tendulkar and the poll panel.
• As part of the three-year agreement, Sachin Tendulkar will spread voter awareness.
• Last year, the commission had recognised actor Pankaj Tripathi as a national icon.
• Earlier, during the 2019 Lok Sabha elections, stalwarts such as MS Dhoni, Aamir Khan and Mary Kom had been the Election Commission’s national icons.

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International Affairs – Daily Current Affairs August 22

11. UNDP and the World Bank are collaborating with India as knowledge partners in which area of focus?
A) Renewable Energy Development
B) Rural Healthcare Initiatives
C) Digital Public Infrastructure
D) Education Reform
E) Agricultural Innovation
Answer: C) Digital Public Infrastructure

• The United Nations Development Programme (UNDP) with the World Bank collaborated with the Government of India as its knowledge partner on DPI in the Digital Economy Working Group.
• For the first time, a description of DPI has been collectively adopted by a group of countries, as a set of shared digital systems that should be secure and interoperable, that can be built on open standards and promote access to services for all, with governance and community as core components of DPI.
• The G20 India Presidency in partnership with UNDP launched two knowledge products on DPI to help countries advance their digital transformation journey, with speed, at scale and inclusion.
• These were launched by the Honourable Minister of Electronics & Information Technology, Government of India, Mr. Ashwini Vaishnaw.
• The DPI SDG Compendium presents a global snapshot of the potential of DPI across all 17 SDGs, and the DPI Playbook provides practical resources on how countries can go about building their inclusive and rights-based DPI.

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12. The 27th edition of joint defence Exercise MALABAR involved naval forces from which countries and was held on the East Coast of Australia?
A) India, United Kingdom, China, and South Korea
B) India, United States, Japan, and Australia
C) India, Russia, France, and Canada
D) India, United Arab Emirates, Saudi Arabia, and Qatar
E) India, Pakistan, Bangladesh, and Sri Lanka
Answer: B) India, United States, Japan, and Australia

• The 27th edition of joint defence Exercise MALABAR between the naval forces of India, the United States, Japan, and Australia concluded on the East Coast of Australia off Sydney.
• The exercise saw the participation of Ships, Submarines and aircraft from the Indian Navy, Royal Australian Navy (RAN), Japan Maritime Self-Defence Force (JMSDF) and the US Navy (USN)
• Exercise MALABAR 23 was conducted in two phases, which included a harbour phase from August 11-15 and a sea phase from August 16-21.
• An indigenously built destroyer, the INS Kolkata, a frigate, the INS Sahyadri, and a maritime patrol aircraft, the P8i, served as the Indian Navy’s representation.

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National Affairs – Daily Current Affairs August 22

13. Which program was recently launched by Road Transport & Highways Minister Nitin Gadkari, with the goal of improving road safety by elevating safety standards in motor vehicles?
A) National Road Safety Initiative (NRSI)
B) Vehicle Safety Enhancement Program (VSEP)
C) Motor Vehicle Safety Upgradation Scheme (MVSUS)
D) Bharat New Car Assessment Programme (BNCAP)
E) Road Safety Vehicle Certification Project (RSVCP)
Answer: D) Bharat New Car Assessment Programme (BNCAP)

• Road Transport & Highways Minister Nitin Gadkari launched the much-awaited Bharat New Car Assessment Programme (BNCAP), which aims to enhance road safety measures by raising the safety standards in motor vehicles.
• The Ministry of Road Transport & Highways (MoRTH) has approved the notification for Bharat NCAP, which will be operational from October 1, 2023.
• The standard is on a voluntary basis.
• The programme aims to provide a tool to the car customers to make a comparative assessment of crash safety of motor vehicles available in the market. Under this programme, car manufacturers can voluntarily offer their cars tested as per Automotive Industry Standard (AIS) 197
• After launching India’s first car safety assessment ratings programme, Gadkari said that this is crucial to check the number of road accident fatalities in the country.

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14. Which ministry has initiated a wedding tourism campaign to harness the vast potential of India’s wedding industry?
A) Ministry of Commerce and Industry
B) Ministry of Finance
C) Ministry of Tourism
D) Ministry of Culture
E) Ministry of Home Affairs
Answer: C) Ministry of Tourism

• The Ministry of Tourism has launched an ambitious wedding tourism campaign, with the aim of tapping into the immense potential of the country’s wedding industry.
• The campaign is aligned with Prime Minister Narendra Modi’s vision of “Developing Tourism in Mission Mode” and seeks to position India as a top-tier wedding destination globally
• The campaign was unveiled by G Kishan Reddy, Union Minister for Culture and Tourism, who emphasised that the campaign’s comprehensive approach will ensure that every step of a couple’s wedding journey, from the initial greeting to the final vows, reflects India’s warmth and cultural heritage.
• The campaign is built on a 360-degree strategy that combines digital marketing, social media campaigns, partnerships with wedding planners, collaborations with influencers and both offline and online activations. By doing so, it aims to reshape the perception of India’s wedding offerings beyond just extravagant and royal ceremonies.
• The thematic focus spans diverse wedding themes, from beach and nature weddings to royal and Himalayan weddings, allowing the couple to customise their dream celebration in captivating settings

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15. From when will the ‘Mera Bill MeraAdhikar’ invoice incentive scheme, which provides cash prizes ranging from Rs 10,000 to Rs 1 crore, be launched by the government?
A) August 15
B) August 31
C) September 1
D) October 1
E) November 15
Answer: C) September 1

• The government will launch the ‘Mera Bill MeraAdhikar’ invoice incentive scheme, which offers cash prize from Rs 10,000 to Rs 1 crore, from September 1, starting with six states and Union Territories.
• The scheme, which is aimed at motivating customers to ask for a bill every time they make purchases, will be launched in the states of Assam, Gujarat and Haryana; and the UTs of Puducherry, Daman & Diu and Dadra & Nagar Haveli
• Invoice incentive scheme allows to earn cash prizes on upload of GST invoices
• All invoices issued by Goods and Services Tax (GST) registered suppliers to consumers will be eligible for the ‘Mera Bill MeraAdhikar’ scheme, under which monthly and quarterly draw of lots will be made and winners will be eligible for cash reward prize beginning from Rs 10,000 to up to Rs 1 crore.
• The minimum purchase value for the invoice to be considered for lucky draw is Rs 200 and individuals can upload a maximum of 25 invoices in a month beginning September 1.
• The ‘Mera Bill MeraAdhikar’ mobile app will be made available in both IOS and android platforms. The invoice uploaded on the app should have the GSTIN of the seller, invoice number, amount paid and tax amount.
• The scheme is conceptualised in a way so as to incentivise citizens and consumers to ask for genuine invoices from the seller when making business-to-consumer (B2C)purchase of goods or services.

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16. The Chief Minister of Punjab has introduced the ‘mera bill’ app, aimed at rewarding what kind of payment made on invoices?
A) Income Tax
B) Property Tax
C) Sales Tax
D) Excise Duty
E) GST (Goods and Services Tax)
Answer: E) GST (Goods and Services Tax)

• Punjab Chief Minister Bhagwant Mann launched a ‘mera bill’ app under the ‘bill liaoinaampao’ (bring a bill, get reward) scheme.
• The scheme is aimed at enhancing the compliance under the goods and services tax (GST) and thereby the revenue
• The scheme is targeted at motivating consumers to get bills from dealers for their purchases made within the state and thereby forcing the dealers to issue the bills for their sales.
• The consumers will be encouraged to upload bills of their purchases on the ‘mera bill’ app to become eligible to participate in a lucky draw, which shall be held at 7th of each month.
• There will be a maximum 10 prizes per taxation district (29 taxation districts in the state), taking the tally to 290 rewards each month.
• The reward will be equivalent to five times the taxable value of goods or services declared in the bill with maximum capping of Rs 10,000 for each reward

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17. Where will India’s first hydrogen fuel cell bus service be launched?
A) Mumbai
B) Delhi
C) Bengaluru
D) Leh
E) Chennai
Answer: D) Leh

• India’s first hydrogen fuel cell bus service is starting in Leh with the first-of-its kind commercial trial of the futuristic technology on public roads in the high-altitude cold desert of the union territory of Ladakh.
• The project is being implemented by India’s largest power producer NTPC, which is supplying five hydrogen fuel cell buses to the Leh administration for intra-city service in the city.
• The state-run company has also built a refuelling station and captive solar plant of 1.7 megawatt for producing green hydrogen to fuel the buses.
• The Leh administration has leased 7.5 acres of land in the city for the infrastructure.
• Ashok Leyland is supplying the buses at a cost of Rs 2.5 crore each under a global expression of interest floated in April 2020.
• Passenger fare for the hydrogen fuel cell buses will be the same as the cost of travelling on 9-metre diesel buses currently in service

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18. The first Global Summit on traditional medicine was organized by which organization, and co-hosted by the Ministry of Ayush, in Gandhinagar?
A) United Nations
B) World Trade Organization
C) World Bank
D) World Health Organization (WHO)
E) International Red Cross and Red Crescent Movement
Answer: D) World Health Organization (WHO)

• WHO’s first ever Global Summit on Traditional Medicine inaugurated as part of the G20 Health Minister’s Meeting in Gandhinagar, Gujarat, Co-hosted by the Ministry of Ayush
• The theme “Towards Health and Well-being for All”, will explore the role of traditional complimentary and integrative medicine in addressing pressing health challenges and driving progress in global health and sustainable development.

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19. The FCRA (Foreign Contribution Regulation Act) license of which organization has been renewed by the Union Home Ministry for a period of 5 years?
A) United Nations
B) World Health Organization
C) Observer Research Foundation (ORF)
D) International Monetary Fund
E) World Trade Organization
Answer: C) Observer Research Foundation (ORF)

• The Union home ministry has renewed the Foreign Contribution Regulation Act (FCRA) licence of foreign policy think tank Observer Research Foundation (ORF) for five years.
• The organisation’s FCRA renewal was pending with the government since March, when extensions were granted to several non-governmental organisations (NGOs), including ORF, till September 30
• The Delhi-based think tank has been granted licence from October 1, 2023 to September 20, 2028
• ORF has been at the forefront of several key policy frameworks on climate change, India-China relationship, food, environment and gender equality, and has proposed several recommendations for the upcoming G20 summit being held in Delhi next month
• The foundation, as per the compliance with the amendment to section 17 of The Foreign Contribution (Regulation) Act, 2010, (amended in 2020), has opened bank accounts with the State Bank of India at Parliament Street branch.
• Till August 15, a total of 206 voluntary organisations have been granted FCRA licences this year, including some prominent organisations such as International Forum for Environment, Sustainability and Technology iFOREST, Sikkim Manipal University

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20. The Indian Army has introduced which radar system for mountain surveillance?
A) Prithvi Radar
B) Varuna Radar
C) Swathi Mk2 Radar
D) Akash Radar
E) Agni Radar
Answer: C) Swathi Mk2 Radar

• To fortify the nation’s battlefield surveillance and reconnaissance capabilities, the Indian Army inducted the lighter and more compact version of the indigenously developed Weapon Locating Radar (WLR-M) called “Swathi Mountains.”
• The induction ceremony took place at Agra, where Lieutenant General JB Chaudhari, the Deputy Chief of the Army Staff (DCOAS) for Capability Development and Sustenance (CD&S), flagged off the radar system.
• The Swathi Mountains WLR is an advanced electronically scanned phased array radar, specifically designed for operations in mountainous and high-altitude areas and was developed by Bharat Electronics Limited (BEL) in Bengaluru.
• The Weapon Locating Radar (WLR) stands as a critical asset for modern militaries, employing advanced signal processing techniques to autonomously detect and track hostile artillery, mortars, and rocket launchers.
• The Ministry of Defence signed contracts on March 30, 2023, for the procurement of an improved Akash Weapon System and 12 Weapon Locating Radars (WLR) Swathi (Plains) for the Indian Army, worth over Rs 9,100 crore.
• Last year, the IA ordered six additional Swathi WLR-M systems. With the inclusion of the recent orders for the Swathi Plains radar, the IA will soon operate a total of 48 such systems. The initial order of Swathi radars was delivered by BEL in 2007 and was accepted by the IA in 2008

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