Daily Current Affairs Highlights and Quiz | 8 September 2023

Today, we bring you the latest updates from the world of current affairs, neatly categorized and detailed to give you a comprehensive overview of the day's significant events. Let's kickstart with the National Affairs.

National Affairs

Cabinet Approvals on September 6, 2023

Launch of 'G20 India' Mobile App: In a historic first, the government unveiled a mobile application dedicated to G20. This app, named 'G20 India', promises to be a one-stop destination for all event-related information, offering an interactive guide to users. This initiative comes ahead of the 2023 G20 New Delhi summit, scheduled for the 9th and 10th of September at the Bharat Mandapam International Exhibition-Convention Centre in New Delhi.

Maritime Infrastructure Perspective Plan 2023-37: During the 2nd Naval Commanders Conference, a significant document titled the Maritime Infrastructure Perspective Plan for the years 2023 to 2037 was released. This conference, which took place in New Delhi, facilitated fruitful interactions between the Minister of State Ajay Bhatt and senior naval leadership.

Bengaluru's Infrastructure Development

In a bid to upgrade the city's power infrastructure, Bengaluru witnessed the inauguration of India's first 500 kVA Underground Power Transformer Station. Situated in Malleshwaram, this project is a collaborative effort between the Bengaluru Electricity Supply Company Limited (BESCOM) and Bruhat Bengaluru Mahanagara Palike (BBMP), costing around Rs 1.9 crore. This initiative marks a significant step towards enhancing the city's electricity-related works and civil operations.

Educational Reforms in Puducherry

Puducherry is set to witness a significant change in the educational sector, with the Union Ministry of Home Affairs approving a 10% quota for students from government schools for medical admissions. The Centralised Admission Committee (CENTAC) will oversee the finalization of the student list for various higher education courses.

International Affairs

Maritime Partnership Exercise between India & Sri Lanka

In a demonstration of camaraderie and cooperation, the navies of India and Sri Lanka engaged in a Maritime Partnership Exercise off the coast of Colombo, Sri Lanka. This exercise saw the active participation of the Indian Naval Ship (INS) Delhi and the Sri Lankan Navy (SLN) Ship Vijayabahu. Spanning from the 1st to the 3rd of September 2023, this event marked a significant milestone in fostering maritime relations between the two nations. Notably, INS Delhi, India's first indigenously designed and built guided missile destroyer, played a pivotal role in this exercise.

Japan's Leap in Space Exploration

The world witnessed Japan taking a giant leap in space exploration with the successful launch of the H-IIA Launch Vehicle No. 47. This mission, undertaken by the Japan Aerospace Exploration Agency (JAXA) and Mitsubishi Heavy Industries (MHI), carried the X-Ray Imaging and Spectroscopy Mission (XRISM) and the Smart Lander for Investigating Moon (SLIM). This launch signifies Japan's strides towards becoming the fifth nation to achieve a soft landing on the moon, joining the ranks of the USA, Russia, China, and India.

Banking & Finance

Global Trade Finance Gap: ADB's Survey

The Asian Development Bank recently released its 2023 Trade Finance Gaps, Growth, and Jobs Survey, shedding light on the current state of the global economy. According to the survey, the global trade finance gap expanded significantly, reaching a staggering USD 2.5 trillion in 2022, up from USD 1.7 trillion in 2020. This data indicates that the world is still grappling with the economic repercussions of the COVID-19 pandemic, struggling to bounce back to pre-pandemic levels.

REC Limited's Green Project Commitment

REC Limited, in its 54th Annual General Meeting, made a substantial commitment towards environmental conservation. The company pledged to amplify its green project loan portfolio to Rs 3 lakh crore by 2030, marking a more than ten-fold increase. This initiative is a part of REC Limited's broader strategy to foster sustainable development and green energy projects.

Innovations and Collaborations in the Finance Sector

Groww Mutual Fund's Initiative: SEBI recently approved Groww Mutual Fund's proposal to launch its first index fund, the 'Groww Nifty Total Markets Index Fund'. This passive mutual fund aims to replicate market indices like the Nifty or Sensex, offering investors a new avenue for investment. The fund is slated for launch by the end of September 2023.

KredX and Mastercard Partnership: In a significant development, KredX joined hands with Mastercard to streamline B2B digital payments. This partnership seeks to eliminate the complexities often associated with B2B transactions, especially those involving cards, making the process more rewarding for both enterprises and vendors.

SBI Card's New Offering: SBI Card unveiled the 'SimplySAVE Merchant SBI Card', a novel initiative aimed at supporting Micro, Small, and Medium Enterprises (MSMEs). This credit card offers interest-free short-term credit options and other exclusive benefits, addressing the need for easy and timely access to formal credit.

Science & Technology

Japan's Ambitious Space Mission

Japan is not holding back in its space exploration endeavors. The Japan Aerospace Exploration Agency (JAXA) and Mitsubishi Heavy Industries (MHI) successfully launched the H-IIA Launch Vehicle No. 47. This mission carried two significant payloads: the X-Ray Imaging and Spectroscopy Mission (XRISM) and the Smart Lander for Investigating Moon (SLIM). The XRISM aims to study X-rays from astronomical objects, while the SLIM is designed to explore the moon's surface. This launch marks a significant step for Japan, as it aims to become the fifth country to achieve a soft landing on the moon, joining the elite group of the USA, Russia, China, and India.

International Day of Clean Air for Blue Skies

On the 7th of September, the world came together to observe the International Day of Clean Air for Blue Skies. This day, which marked its 4th annual celebration, emphasizes the critical importance of clean air for a sustainable and healthy future. This year, the theme was "Together for Clean Air", encouraging communities globally to unite in the battle against air pollution, a significant threat to human health and the environment.

Important Days

International Day of Clean Air for Blue Skies

On the 7th of September, communities worldwide united to observe the International Day of Clean Air for Blue Skies. This day, now in its fourth year, serves as a stark reminder of the pressing need to address air pollution, a pervasive issue that poses a significant threat to human health and the environment. This year, the theme was "Together for Clean Air", urging individuals and communities to collaborate in efforts to mitigate air pollution and promote cleaner, healthier air for all. The day encourages global citizens to take concrete steps towards reducing air pollution, fostering a sustainable and healthy future for generations to come.

State News

Telangana Collaborates with Tabreed

In a significant development, the government of Telangana has joined forces with Tabreed, a renowned cooling-as-a-service provider based in Abu Dhabi. This collaboration aims to establish Asia's largest district cooling project in Hyderabad. The project, a part of a broader Public-Private Partnership, seeks to provide sustainable, long-term cooling services to industrial units in the region, marking a significant step towards fostering environmental sustainability.

Ahmedabad's Emission Trading Scheme

Ahmedabad is pioneering a green initiative by becoming the second city in India to implement the Emission Trading Scheme (ETS) for particulate pollution. This scheme, inaugurated by Mulubhai Bera, the Minister of Tourism, Cultural Activities, Forest & Environment, Climate Change, Government of Gujarat, aims to regulate and reduce pollution levels in the city, fostering a cleaner and healthier environment for its residents.

Jharkhand's Support for the Transgender Community

In a compassionate move, the Jharkhand Cabinet, under the leadership of Chief Minister Hemant Soren, has approved the inclusion of the transgender community in the 'Mukhyamantri Rajya Samajik Suraksha Pension Yojana'. This initiative promises a monthly financial aid of Rs 1000 to members of the transgender community, offering them a safety net and fostering social inclusion. Additionally, the community has been included in the Other Backward Class (OBC) category, enabling them to avail benefits in government job reservations.

Read this far? Now attempt the quiz based on this to test your knowledge - Current Affairs Quiz - 8 September 2023