Home Current Affairs Daily Current Affairs September 13: Check Here

Daily Current Affairs September 13: Check Here

Daily Current Affairs September 13

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 September 13. 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.

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September 13| Daily Current Affairs 2023

Sports – Daily Current Affairs September 13

1. Who won their first-ever FIBA Basketball World Cup title in 2023?
A) Serbia
B) United States
C) Spain
D) Australia
E) Germany
Answer: E) Germany

2023 FIBA World Cup

  • Winner: Germany
  • Runner: Serbia
  • Edition: 19th
  • Dates: 25 Aug 2023 – 10 Sept 2023
  • Third place: Canada
  • Fourth place: United States
  • Venue: Philippines(3), Indonesia(1), Japan(1)

2. Who won the singles title at the Indonesia Masters 2023 badminton tournament?
A) Lin Dan
B) Chen Long
C) KentoMomota
D) Viktor Axelsen
E) Kiran George
Answer: E) Kiran George

  • Indian badminton player Kiran George clinched the men’s singles title at the Indonesia Masters 2023 in Medan, North Sumatra beat world No. 82 Koo Takahashi of Japan
  • It is second BWF World Tour Super 100 badminton title.
  • Kiran George won the Odisha Open last year, beating compatriot PriyanshuRawat in the final.

Ranking – Daily Current Affairs September 13

3. In the Financial Times Masters in Management Ranking 2023, what is the ranking of IIM Kozhikode?
A) 50
B) 77
C) 100
D) 125
E) 150
Answer: B) 77

Financial Times Masters in Management Ranking 2023

Rank Name Place
1 HEC Paris France
2 University of St Gallen Switzerland
3 London Business School UK
4 ESCP Business School France
5 Essec Business School France
40 SP Jain Institute of Management & Research (SPJIMR) India
43 Indian Institute of Management Ahmedabad India
60 Indian Institute of Management Calcutta India
72 Indian Institute of Management Lucknow India
77 Indian Institute of Management Kozhikode India
83 NMIMS Mumbai, School of Business Management India
84 International Management Institute New Delhi India
85 XLRI — Xavier School of Management India
88 Indian Institute of Management Udaipur India
92 Institute of Management Technology, Ghaziabad India
93 Management Development Institute Gurgaon India
  • Among Asian B-Schools IIM Kozhikode has been placed at the 10th position and nationally, the institute is at fourth position among all IIMs.
  • This recognition follows IIMK’s other debut earlier this year, when it secured the 72nd position among the top-75 open-enrollment executive program providers worldwide in the same FT Ranking but under the Executive Education (Open Enrolment) 2023
  • The FT MiM rankings consider programmes offered by schools with AACSB or EQUIS accreditation, catering to participants with limited or no work experience.
  • The Financial Times Masters in Management ranking criteria are categorised into specific areas including alumni career progress, school diversity, and international experience and research.
  • IIMK was recognised among the top 251-300 Institutes in Business & Management Studies globally in the Quacquarelli Symonds (QS) World University Rankings by Subject 2023, released in March 2023 and consistently features among top B-Schools in the world for QS Ranking on MBA and Executive MBA studies.

Banking and Finance – Daily Current Affairs September 13

4. Which payments company has partnered with Yes Bank to launch HyperUPI, NPCI’s plug-in SDK that enables in-app UPI payments in merchant apps?
A) Paytm
B) PhonePe
C) Juspay
D) Google Pay
E) Amazon Pay
Answer: C) Juspay

  • Juspay, India’s leading payments company, has partnered with Yes Bank to launch HyperUPI, NPCI’s plug-in SDK that enables in-app UPI payments in merchant apps.
  • Merchants can now offer simple “1-click UPI experiences” in their Android and iOS apps without having to become an official UPI app.
  • Customers will no longer need to depend on another app to make UPI transactions as these payments can now be made on the merchant’s app.
  • This plugin SDK is built on one of the country’s most trusted cloud UPI systems, supporting UPI payments for leading UPI merchant and consumer applications.
  • Traditional UPI payments in merchant apps involve multiple clicks, creating several points for customers to abandon the payment process.
  • However, the UPI Plug-in SDK simplifies the payment experience to just a single click.
    HyperUPI is a differentiated offering in the market due to its ability to support advanced features like mandates (recurring payments), Third-party validation (TPV), etc.
  • Moreover, it offers merchants a no-code platform, empowering them to create a fully customized user interface that seamlessly blends with their App’s theme and branding.
  • HyperUPI can be integrated easily into the merchant’s apps across various technical frameworks like React-Native, Flutter, Cordova, and more.
  • Gullak, a leading fintech app, has become the first merchant to deploy Juspay’s UPI plugin SDK – HyperUPI.
  • This will eliminate the need for Gullak customers to access another UPI payments app when checking out, allowing them to pay right within the Gullak app itself.
Titbits

Yes Bank:

Headquarters: Mumbai,Maharashtra
MD and CEO : Prashant Kumar
Tagline: Experience our Expertise


5. Which segment has Max Life Insurance ventured into with the launch of their new plan, SEWA?
A) Automobile
B) Real Estate
C) Health and Wellness
D) Technology
E) Education
Answer: C) Health and Wellness

  • Max Life Insurance, a private life insurer, has ventured into the health and wellness segment with the launch of a new plan, SEWA.
  • The Secure Earnings & Wellness Advantage (SEWA) plan covers hospitalisation, ICU stay, surgeries, critical illness, and disability, besides life cover.
  • To drive insurance adoption among women and transgender customers, as part of financial inclusion, it offers them a 5 per cent discount in the first-year premium.
  • Additionally, the offering provides customers with access to Max Fit wellness digital app, which incentivises leading a disciplined and healthier lifestyle through enhanced maturity benefits.
  • Customers can unlock a 5 per cent discount on the first-year premium by registering on the app.
  • They can record their healthy habits on the app and earn wellness boosters.
  • The accrued wellness boosters will be paid along with the maturity benefit.
  • As per Max Life’s latest research on retirement (India Retirement Index Study), 59 per cent of Indians prioritise health while planning for retirement. SEWA aims to provide a blend of financial security and health benefits.
  • Other features include health plan with a return on premiums and partial withdrawals on traditional guaranteed plan (applicable if all due premiums are paid).
Titbits

Max Life Insurance:

Headquarters: New Delhi, Delhi
CEO: Prashant Tripathy


6. What is the name of the recurring deposit scheme recently launched by Bank of Baroda (BoB)?
A) BOB RDS (Recurring Deposit Scheme)
B) BOB SIP (Systematic Investment Plan)
C) BOB SDP (Systematic Deposit Plan)
D) BOB FD (Fixed Deposit)
E) BOB PPF (Public Provident Fund)
Answer: C) BOB SDP (Systematic Deposit Plan)

  • Bank of Baroda (BoB) has launched a festival campaign, whereby it has cut home and car loan interest rates by 20 basis points (bps) and up to 10 bps, respectively.
  • Under the campaign, which will run up to 31st December, 2023, the public sector bank has also cut education and personal loan interest rates by 60 bps and 80 bps, respectively.
  • BoB will offer home loans from 8.40 per cent (8.60 per cent earlier) onwards, with a complete waiver of processing fees.
  • The Bank’s floating and fixed rate car loans will start at 8.75 per cent (8.85 per cent) and 8.70 per cent (8.75 per cent) onwards, respectively, with nil processing fees.
  • it has introduced a fixed rate of interest option in personal and car loans, and borrowers can now choose between fixed and floating interest rates.
  • The Bank launched four new savings accounts — LITE Savings Account – a lifetime no minimum balance account; BRO Savings Account – a zero balance savings account for students (16 to 25 years); Parivar Account – a family savings account designed to meet the needs of the entire family and the NRI PowerPack Account.
  • BoB also launched a recurring deposit scheme, a BOB SDP (Systematic Deposit Plan).
Titbits

Bank of Baroda:

Hq: Vadodara, Gujarat
MD and CEO : Debadatta Chand
Tagline : India’s International Bank


7. What is the name of the omnichannel, multi-mode collections platform introduced by Aditya Birla Capital Digital Limited?
A) Payment Hub
B) Transaction Center
C) Payment Lounge
D) Digital Gateway
E) Unified Payment Platform
Answer: C) Payment Lounge

  • Aditya Birla Capital Digital Limited, the wholly owned subsidiary company of Aditya Birla Capital Limited , has introduced Payment Lounge, an omnichannel, multi-mode collections platform to enable merchants to provide a unified, secure, and faster transaction experience to their customers for making digital payments.
  • The technology behind the payment infrastructure has been powered by India’s leading omnichannel payment solutions company PhiCommerce.
  • With a seamless front-end experience and back-end smart routing capabilities, the platform can be seamlessly integrated with the merchant’s application, providing for a hassle-free checkout process across in-store, online, and doorstep delivery channels of merchants.
  • The Payment Lounge supports various payment modes including, UPI, debit, and credit cards, direct-to-bank, via QR code scans, buy-now-pay-later, wallet, and link-based payment options.
  • The Payment Lounge is underpinned by PhiCommerce’somnichannel payment platform PayPhi – a one-stop solution that serves businesses’ diverse payment needs across both online and offline channels.
Titbits

Aditya Birla Capital Limited (ABCL):

Headquarters: Mumbai, Maharashtra
CEO: VishakhaMulye


8. What is the name of the novel offering recently introduced by IndiaFirst Life Insurance Company Limited?
A) IndiaFirst Life Premium Protection Plan
B) IndiaFirst Life Single Premium Plan
C) IndiaFirst Life Guaranteed Premium Plan
D) IndiaFirst Life Single Payment Plan
E) IndiaFirst Life Premium Assurance Plan
Answer: B) IndiaFirst Life Guaranteed Single Premium Plan

  • IndiaFirst Life Insurance Company Limited (IndiaFirst Life) has introduced a novel offering — IndiaFirst Life Guaranteed Single Premium Plan.
  • This unique plan is designed to provide individuals with a seamless blend of financial protection and savings.
  • IndiaFirst Life Guaranteed Single Premium Plan (GSPP) is a non-linked, non-participating, individual, single premium savings plan, which offers guaranteed returns to the customer over a long policy term.
  • With a one-time premium payment prior to policy inception, customers can avail of dual benefits of financial protection and savings from a single policy.
  • Customers have the flexibility to select their desired life cover option from a range of choices, including a life cover of 1.25 times or 10x against the single premium.
  • This unique customization empowers individuals to align their coverage with their long-term financial goals.
  • It caters to their long-term security needs while helping them with legacy and wealth planning for future generations.
Titbits

IndiaFirst Life Insurance:

Headquarters: Mumbai, Maharashtra
MD & CEO: R. M. Vishakha


Appointments – Daily Current Affairs September 13

9. Who has been appointed as the Vice Chairperson of NASSCOM?
A) RishadPremji
B) SundarPichai
C) Satya Nadella
D) Sindhu Gangadharan
E) Kiran Mazumdar-Shaw
Answer: D) Sindhu Gangadharan

  • Sindhu Gangadharan, MD, of SAP Labs India has been appointed as NASSCOM Vice Chairperson.
  • Earlier this year, she was appointed as Chairperson of the Nasscom GCC Council 2023-25. Ms. Sindhu also serves on the Board of Siemens India and Titan Company.
  • Gangadharan’s appointment comes after Cognizant India MD Rajesh Nambiar, who was the vice-chair, was appointed as the Chairperson earlier this month following AnantMaheshwari’s exit.
  • Maheshwari, the former Microsoft India president who had been appointed to the role of Nasscom chair in April this year for 2023-24, relocated to Dubai as part of his new role as Honeywell’s High Growth Region President And CEO.
Titbits

National Association of Software and Service Companies(NASSCOM):

Founded: 1 March 1988
Chairperson: Rajesh Nambiar
Headquarters: Noida, Uttar Pradesh


Science and Technology – Daily Current Affairs September 13

10. Which organizations have signed a memorandum of understanding with Amazon Web Services (AWS) to support space-tech innovations through cloud computing?
A) NASA and SpaceX
B) ISRO and IN-SPACe
C) ESA and Blue Origin
D) JAXA and Roscosmos
E) CNSA and Rocket Lab
Answer: B) ISRO and IN-SPACe

  • Amazon Web Services (AWS) has signed a memorandum of understanding with ISRO and IN-SPACe to support space-tech innovations through cloud computing.
  • The collaboration with ISRO and Indian National Space Promotion and Authorization Centre (IN-SPACe) is aimed at giving space startups, research institutes and students access to cloud technologies through AWS Activate for new solutions in the space sector
    The collaboration follows the approval to Indian Space Policy, 2023 in April by the government which provides a strategic roadmap for the growth and development of India’s space programme using cloud computing, data, Artificial Intelligence and Machine Learning.
  • Startups will also benefit from access to AWS and its global experience of building aerospace and satellite solutions through the AWS Space Accelerator programme.
  • The three organisations will also collaborate on a new initiative to train students and educators in cloud computing, AI, ML, analytics, and security, by leveraging AWS education programmes.
Titbits

Amazon Web Services (AWS):

CEO: Adam Selipsky
Headquarters : Seattle, United States of America

ISRO:

Abbreviation: Indian Space Research Organisation
FoundedL 1969
Headquarters : Bengaluru, Karnataka
Chairman : S. Somanath

 

Indian National Space Promotion and Authorization Centre (IN–SPACe):

Formed: 2020
Headquarters: Ahmedabad, Gujarat
Chairman: Dr.Pawan Kumar Goenka


International Affairs – Daily Current Affairs September 13

11. What is the focus of the MoU approved by the Cabinet between India and Armenia?
A) Cooperation in the field of defense technology
B) Collaboration in the field of education and cultural exchange
C) Sharing successful Digital Solutions implemented at Population Scale for Digital Transformation
D) Joint exploration of space missions
E) Partnership in the field of infrastructure development
Answer: C) Sharing successful Digital Solutions implemented at Population Scale for Digital Transformation

  • The Union Cabinet, chaired by the Hon’ble Prime Minister approves the signing of Memorandum of Understanding (MoU) between the Ministry of Electronics & Information Technology of the Republic of India and the Ministry of High-Tech Industry of the Republic of Armenia on Cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformation.
  • The MoU intends to promote closer cooperation and exchange of experiences and digital technologies-based solutions (viz. INDIA STACK) in the implementation of digital transformational initiatives of both the country. MoU envisages improved collaboration leading to employment opportunities in the field of IT.
Titbits

Armenia:

Capital: Yerevan
Currency: Armenian dram
Prime Minister: NikolPashinyan

Antigua and Barbuda:

Capital: Saint John’s
Currency :Eastern Caribbean dollar
Prime Minister: Gaston Alfonso Browne

Sierra Leone:

capital : Freetown
currency : Sierra Leonean Leone
President: Julius Maada Bio


12. How many countries recently joined the UN convention to promote legal certainty in the judicial sale of ships?
A) 5
B) 10
C) 15
D) 20
E) 25
Answer: C) 15

  • In a significant development, 15 countries, including China, Saudi Arabia, Singapore and Switzerland, signed the UN Convention on the International Effects of Judicial Sales of Ships to promote legal certainty and predictability at the international level by creating a uniform regime for the international effects of ‘judicial’ sales of ships.
  • The Beijing Convention on the Judicial Sale of Ships, as it is now known, was developed by the United Nations Commission on International Trade Law (UNCITRAL) to address the problem of bona fide new owners and those financing the purchase of vessels who, for instance, find themselves dealing with previous creditors laying claim to the ship as security for a loan.
  • The convention was opened for signatures at a ceremony in Beijing on September 5, according to the United Nations.
  • The convention establishes a harmonised regime for giving international effect to judicial sales, while preserving domestic law governing the procedure of judicial sales and the circumstances in which judicial sales confer clean title.

National Affairs – Daily Current Affairs September 13

13. Who inaugurated the ‘National e-Vidhan Application’ (NeVA) and addressed the Gujarat Legislative Assembly at Gandhinagar?
A) President of India
B) Prime Minister of India
C) Chief Minister of Gujarat
D) President of Gujarat Legislative Assembly
E) None of the above
Answer: A) President of India

  • President DroupadiMurmu launched the National e-Vidhan Application (NeVA) Digital House project of the Gujarat legislative assembly in Gandhinagar
  • The launch was conducted in the presence of the Gujarat Governor Acharya Devvrat and Chief Minister Bhupendrabhai Patel.
  • The NeVA project, inspired by Prime Minister Narendra Modi’s visionary concept of ‘One Nation, One Application,’ is a significant step towards making the Assembly proceedings entirely paperless.
  • As per the Union Parliamentary Affairs Ministry, the National e-Vidhan Application (NeVA) is a Unicode-compliant software developed to make all legislative body work and data available online for usage by both citizens and Assembly members.
  • NeVA also includes a website and a mobile app.
  • This software allows for simple access to many documents such as the list of questions, list of businesses, and reports, among others.
  • NeVA also embodies the concept of ‘One Nation, One Application’ with the objective of Cloud First and Mobile First to serve Members FIRST.
  • Prime Minister Modi proposed a ‘One Nation, One Legislative Platform’ in November 2021. Till now, 21 State legislatures have signed a Memorandum of Understanding for the implementation of the NeVA and the project has been sanctioned for 17 Legislatures and funds have been released to them for implementation of the project.
  • Among them, 9 Legislatures have already become fully digital and are live on the NeVA platform. They are conducting all their business end to end in a digital and paperless manner.
  • President virtually launches the AyushmanBhav nationwide campaign of the Ministry of Health and Family Welfare from the Raj Bhavan in Gandhinagar
  • The AyushmanBhav Campaign is a comprehensive nationwide healthcare initiative of the Union Ministry of Health and Family Welfare that aims to provide saturation coverage of healthcare services, reaching every village and town in the country.
  • This Campaign will be implemented during the ‘SevaPakhwada’ from September 17 to October 2, 2023.

14. Which organizations have recently tied up to facilitate solar adoption by MSMEs?
A) Tata Power and NTPC
B) SIDBI and Adani Power
C) Tata Power and SIDBI
D) Tata Power and BHEL
E) SIDBI and Suzlon Energy
Answer: C) Tata Power and SIDBI

  • Tata Power Company shares were up by 0.5 per cent after the integrated solar company and a subsidiary of Tata Power Renewable Energy Ltd (TPREL) inked a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI) to provide accessible financing options to micro, small, and medium enterprises (MSMEs) looking to adopt solar solutions.
  • Under the scheme, MSMEs opting for Rooftop Solar PV Plants or associated services from Tata Power or its authorised channel partners across India will receive financial support from SIDBI.
  • The MoU was signed in the presence of the Minister of State for Finance, Dr Bhagwat Karad, during the Global SME Finance Forum 2023 in Mumbai.
  • Dr Praveer Sinha, CEO and MD, Tata Power, and Shri SivasubramanianRamann, Chairman and Managing Director, SIDBI, conducted the exchange.
  • This collaboration aims to promote solar energy adoption among MSMEs by providing tailored and innovative financing solutions through SIDBI’s 4E (End-to-End Energy Efficiency) Scheme, which offers competitive interest rates and flexible loan limits, catering to the specific needs of the MSME sector.
  • Additionally, TPSSL and SIDBI have introduced ‘The Big Solar Fest’ at the Global SME Finance Forum 2023, offering zero processing fees during the upcoming festival season.
  • This initiative aims to drive awareness about competitive financing options with no processing fees, further accelerating the transition towards green energy in the MSME sector.
Titbits

Tata Power Renewable Energy Ltd:

Headquarters : Mumbai, Maharashtra
Non-Executive Director & Chairman: Mr. Saurabh Agrawal
Incorporate: 02 March, 2007

SIDBI:

Abbreviation: Small Industries Development Bank of India
Establishment – 2nd April 1990
Headquarters – Lucknow, Uttar Pradesh
Chairman & Managing Director – SivasubramanianRamann


15. Until when has the Ministry of New & Renewable Energy (MNRE) relaxed the domestic content requirement (DCR) norms for solar cells under Component C of the PM KUSUM scheme?
A) March 2022
B) March 2023
C) March 2024
D) March 2025
E) March 2026
Answer: C) March 2024

  • The Ministry of New & Renewable Energy (MNRE) has relaxed the domestic content requirement (DCR) norms for solar cells under Component C of the PM KUSUM scheme till March 2024.
  • In August last year, the Ministry waived off domestic requirement norms for projects awarded on or before June 20, 2023.
  • it has again received various representations regarding extension of DCR waiver for solar cells under Component C (FLS) owing to the ongoing bidding process.
  • PM-KUSUM or the Pradhan MantriUrja Suraksha EvamUtthaanMahabhiyaan is a demand-driven scheme and, therefore, quantities or capacities are allocated under the three components of the scheme based on demand received from the states.
  • The Component C under PM KUSUM is to achieve solarisation of 15 lakh grid-connected agriculture pumps through individual pump solarisation (IPS) and feeder level solarisation (FLS).
  • The beneficiaries under Component-C can be individual farmers, water user associations, primary agriculture credit societies and community or cluster-based irrigation systems.
  • For agriculture feeder solarisation, a central financial assistance (CFA) of ₹1.05 crore per MW is provided. There is no mandatory requirement of financial support from participating states. The feeder solarisation can be implemented in CAPEX or RESCO (Renewable Energy Service Company) mode.
  • Besides, the CFA under Component C is 30 per cent of the benchmark cost or the tender cost, whichever is lower. State government subsidy is 30 per cent, and the remaining 40 per cent is to be paid by the farmer.
  • As of July 2023, in Component C, the Centre has sanctioned 1,21,930 pumps under individual pump solarisation (IPS) of which 1,519 pumps have been installed.
  • Under the feeder level solarisation (FLS) 22,05,279 pumps have been sanctioned, while no pump has been installed so far.
  • Funds under the scheme are released based on progress of installation reported by the State Implementing Agencies (SIA) and provisions of the scheme guidelines.

16. How much budgetary allotment has been approved by the Union Cabinet for the distribution of free cooking gas connections under the Pradhan MantriUjjwalaYojana (PMUY)?
A) ₹1,250 crore
B) ₹1,450 crore
C) ₹1,550 crore
D) ₹1,650 crore
E) ₹1,750 crore
Answer: D) ₹1,650 crore

  • The Union Cabinet approved the budgetary allotment of ₹1,650 crore for the distribution of 75 lakh free cooking gas connections as part of the Pradhan MantriUjjwalaYojana (PMUY).
  • The Cabinet also cleared the third phase of the eCourts project with a financial allocation of ₹7,210 crore.

UjjwalaYojana

  • The union cabinet approved the extension of Pradhan MantriUjjwalaYojana (PMUY) for the release of 75 lakh LPG connections over three years from the financial year 2023-24 to 2025-26 with an additional outlay of ₹1,650 crore.
  • The total financial implication would be ₹2,200 per connection of 14.2 kg single bottle connection and 5 kg double bottle connection. The cost of 5 kg single bottle connection would be ₹1,300 per connection.
  • As per the existing modalities of Ujjwala 2.0, the first refill and stove will also be provided free of cost to Ujjwala beneficiaries.
  • A targeted subsidy of Rs.200 per 14.2 kg LPG cylinder for up to 12 refills per year is being provided to PMUY consumers.
  • Recently, the union cabinet approved a reduction of ₹200 in LPG connections across the country.
  • LPG connections to poor households will provide access to clean cooking fuel and help in addressing health problems caused by the use of traditional sources of cooking fuel such as firewood, coal, cowdung etc.
  • This will in turn enhance productivity of women, raise their quality of life by removing drudgery associated with collection of wood and insure them against non-availability of cooking fuel, at times.

The eCourts project

  • The Union Cabinet approved the third phase of eCourts Project as a central sector scheme with a financial outlay of ₹ 7,210 crore to be implemented over four years.
  • As part of the National eGovernance Plan, the eCourts Project is under implementation since 2007 for ICT enablement of the Indian Judiciary.
  • The Phase II of the project has concluded in 2023.
  • The eCourts Mission Mode Project is a move towards improving access to justice using technology.
  • The eCourts Phase-III aims at bringing ease of justice by moving towards digital, online and paperless courts through digitization of the entire court records including legacy records and by bringing in universalization of e-filing/ e-payments through saturation of all court complexes with eSewaKendras.
  • Court complexes are set to have 4,400 e-Seva centres to facilitate efficient services.
    These virtual traffic courts will operate 24/7 across the country.

Cabinet approves foreign investment of up to Rs.9589 crore in M/s Suven Pharmaceuticals Limited

  • The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi approved the FDI proposal for foreign investment of up to Rs.9589 crore in M/s Suven Pharmaceuticals Limited by M/s Berhyanda Limited, Cyprus.
  • The approval is for acquisition of up to 76.1% equity shares of M/s Suven Pharmaceuticals Limited, a public limited Indian pharmaceutical company listed on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited, by M/s Berhyanda Limited, Cyprus, by way of transfer of shares of from existing promoter shareholders and public shareholders through mandatory Open Offer.
  • The aggregate foreign investment may increase up to 90.1% in M/s Suven Pharmaceuticals Limited.
  • The proposal has been evaluated by SEBI, RBI, CCI and other relevant agencies.
  • The approval has been granted after examination of the proposal by Departments concerned, RBI and SEBI and is subject to the fulfillment of all rules and regulations as applicable in this regard.
  • The entire investments in foreign Investor Company, M/s Berhyanda Limited are held by Advent Funds, which pool investments from various Limited Partners (LPs).
  • The Advent Funds are managed by Advent International Corporation, an entity incorporated in USA. Advent International Corporation, set up in 1984 has made investments of about USD 75 billion in 42 countries.
  • Advent India started investments in India since 2007 and so far it has invested about Rs 34000 crores in 20 Indian companies across healthcare, financial services, industrial manufacturing, consumer goods and IT services sectors.
  • The approved investment aims to generate new jobs, capacity expansion of the Indian company through investments in plant & equipment.
  • Association with Advent Group is expected to provide larger platform to M/s Suven Pharmaceuticals Limited by expanding business operations; achieving operational excellence; enhancing productivity and accelerate growth; improve the environment, health and safety standards of Indian Company; and bring in global best practices in management as well as excellent training opportunities to existing professionals.

17. Where did the Indian Air Force (IAF) Chief receive the first C-295 aircraft?
A) New Delhi, India
B) Seville, Spain
C) Paris, France
D) London, United Kingdom
E) Moscow, Russia
Answer: B) Seville, Spain

  • Chief of Air Staff Air Chief Marshal VR Chaudhari received the first of the 56 C295 transport aircraft two years after India sealed a Rs 21,935-crore deal with Airbus Defence and Space to procure the jets to replace its ageing Avro–748 fleet.
  • Air Chief Marshal Chaudhari, receiving the aircraft at the aerospace major’s production facility in the southern Spanish city of Seville, described it as a ”momentous day” for the IAF and India as 40 C-295 out of the total fleet will be manufactured in Vadodara.
  • Under the deal, Airbus will deliver the first 16 aircraft in ‘fly-away’ condition from its final assembly line in Seville by 2025 and the subsequent 40 aircraft will be manufactured and assembled by Tata Advanced Systems (TASL) in India as part of an industrial partnership between the two companies.
  • The first ‘Make in India’ C295 will roll out of the Vadodara final assembly line in September 2026 in what will be a milestone for the Indian aerospace industry. The final aircraft is expected to be delivered to the IAF by August 2031.
  • In October last year, Prime Minister Narendra Modi laid the foundation stone of the manufacturing facility for C295 planes in Vadodara. It will be the first military aircraft to be manufactured in India by a private consortium.
  • The Indian Air Force (IAF) is procuring the C295 aircraft to replace its fleet of ageing Avro-748 planes that entered the service over six decades back.
  • The global C295 programme comprises a total of 280 orders from 39 operators, making it an unmatched aircraft in its weight and mission class, the plane maker said.
  • The C295 is known to be a superior aircraft used for tactical transport of up to 71 troops or 50 paratroopers, and for logistic operations to locations that are not accessible to current heavier aircraft.
Titbits

Airbus Defence and Space:

Headquarters: Taufkirchen, Germany
CEO: Michael Schoellhorn


18. Which organizations have joined hands to develop an indigenous communication-based train control (i-CBTC) system?
A) Delhi Metro Rail Corporation and Bharat Electronics Limited (BEL)
B) Indian Railways and Bharat Heavy Electricals Limited (BHEL)
C) Mumbai Metro Rail Corporation and Hindustan Aeronautics Limited (HAL)
D) Kolkata Metro Rail Corporation and Larsen & Toubro (L&T)
E) Chennai Metro Rail Corporation and Tata Consultancy Services (TCS)
Answer: A) Delhi Metro Rail Corporation and Bharat Electronics Limited (BEL)

  • The Delhi Metro Rail Corporation and Bharat Electronics Limited (BEL) joined hands to develop an indigenous communication-based train control (i-CBTC) system
  • The team has commenced work at the i-CBTC lab of the Delhi Metro Rail Corporation (DMRC) and will soon develop and deploy a prototype i-CBTC product on a “designated test track” within the DMRC network
  • A memorandum of understanding (MoU) was signed in the presence of Vikas Kumar, Managing Director of the DMRC.
Titbits

BEL:

Abbreviation: Bharat Electronics Limited
Headquarters: Bengaluru, Karnataka
Chairman & MD : Mr Dinesh Kumar Batra
Found: 1954


19. Who launched the ‘SarpanchSamvad’ app in Assam?
A) Gulab Chand Kataria
B) Narendra Modi
C) SarbanandaSonowal
D) HimantaBiswaSarma
E) PramodSawant
Answer: A) Gulab Chand Kataria

  • Assam Governor Gulab Chand Kataria has launched the ‘SarpanchSamvad’ app
  • The launch ceremony, held at the Raj Bhavan, was attended by over 30 sarpanchs from different parts of the country.
  • The app has been developed by the Quality Council of India (QCI).
  • The objective of this initiative is to provide comprehensive support to sarpanchs and foster their growth as leaders.
  • The Quality Council of India, established in 1997 by the Government of India and the Indian industry, is the apex organisation responsible for establishing and operating the third-party national accreditation system, improving quality across sectors and advising the government and other stakeholders on matters concerning quality.
  • The app is aimed at connecting approximately 2.5 lakh sarpanchs across India, and serves as a holistic platform for networking, knowledge dissemination, and collaboration.
Titbits

Assam:

Capital : Dispur
CM : HimantaBiswaSarma
Governor : Shri Gulab Chand Kataria



Over All Review

Sports 

  • Germany beat Serbia to win first-ever FIBA basketball World Cup.
  • Indian badminton player Kiran George clinched the men’s singles title at the Indonesia Masters 2023 in Medan, North Sumatra beat world No. 82 Koo Takahashi of Japan.

Ranking 

  • SPJIMR top-ranked B-School in India, IIM Ahmedabad next: FT Masters In Management Ranking 2023.

Banking and Finance 

  • Juspay, India’s leading payments company, has partnered with Yes Bank to launch HyperUPI, NPCI’s plug-in SDK that enables in-app UPI payments in merchant apps.
  • Max Life Insurance, a private life insurer, has ventured into the health and wellness segment with the launch of a new plan, SEWA.
  • Bank of Baroda (BoB) has launched a festival campaign, whereby it has cut home and car loan interest rates by 20 basis points (bps) and up to 10 bps, respectively.
  • Aditya Birla Capital Digital Limited, the wholly owned subsidiary company of Aditya Birla Capital Limited , has introduced Payment Lounge, an omnichannel, multi-mode collections platform to enable merchants to provide a unified, secure, and faster transaction experience to their customers for making digital payments.
  • IndiaFirst Life Insurance Company Limited (IndiaFirst Life) has introduced a novel offering — IndiaFirst Life Guaranteed Single Premium Plan.

Appointments

  • Sindhu Gangadharan, MD, of SAP Labs India has been appointed as NASSCOM Vice Chairperson.

Science and Technology

  • Amazon Web Services (AWS) has signed a memorandum of understanding with ISRO and IN-SPACe to support space-tech innovations through cloud computing.

International Affairs

  • The Union Cabinet, chaired by the Hon’ble Prime Minister approves the signing of Memorandum of Understanding (MoU) between the Ministry of Electronics & Information Technology of the Republic of India and the Ministry of High-Tech Industry of the Republic of Armenia on Cooperation in the field of sharing successful Digital Solutions implemented at Population Scale for Digital Transformation.
  • In a significant development, 15 countries, including China, Saudi Arabia, Singapore and Switzerland, signed the UN Convention on the International Effects of Judicial Sales of Ships to promote legal certainty and predictability at the international level by creating a uniform regime for the international effects of ‘judicial’ sales of ships.

National Affairs

  • President DroupadiMurmu launched the National e-Vidhan Application (NeVA) Digital House project of the Gujarat legislative assembly in Gandhinagar.
  • Tata Power Renewable Energy Ltd (TPREL) inked a Memorandum of Understanding (MoU) with the Small Industries Development Bank of India (SIDBI) to provide accessible financing options to micro, small, and medium enterprises (MSMEs) looking to adopt solar solutions.
  • The Ministry of New & Renewable Energy (MNRE) has relaxed the domestic content requirement (DCR) norms for solar cells under Component C of the PM KUSUM scheme till March 2024.
  • The Union Cabinet approved the budgetary allotment of ₹1,650 crore for the distribution of 75 lakh free cooking gas connections as part of the Pradhan MantriUjjwalaYojana (PMUY).
  • Chief of Air Staff Air Chief Marshal VR Chaudhari received the first of the 56 C295 transport aircraft two years after India sealed a Rs 21,935-crore deal with Airbus Defence and Space to procure the jets to replace its ageing Avro–748 fleet.
  • The Delhi Metro Rail Corporation and Bharat Electronics Limited (BEL) joined hands to develop an indigenous communication-based train control (i-CBTC) system.
  • Assam Governor Gulab Chand Kataria has launched the ‘SarpanchSamvad’ app.

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