1 September 2023 Current Affairs – The Day’s Top News | GKSERIES

Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 1 September 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.

So, here is the Top News of the Day for 1 September 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

Current Affairs for Competitive Exam – 1 September 2023

Asia Cup 2023: Schedule, Live Score, Timing and Location

Asia Cup 2023 Schedule

The Asia Cup 2023 will be held in Pakistan and Sri Lanka from August 30 to September 17, 2023. The tournament will be a 50-over ODI tournament, with all matches played at international standard venues. The 2023 Edition will feature two groups, with two teams from each group qualifying for the Super Four stage. The top two teams from the Super Four stage will then face off in the final.

Daily Current Affairs Quiz

The Asia Cup 2023 will get underway in Multan with a match between Pakistan and Nepal. The event will feature six teams divided into two groups: Pakistan, India, and Nepal in Group A, and Bangladesh, Afghanistan, and Sri Lanka in Group B.

India Pakistan Asia cup will be played on 2nd of September 2023. This is the most awaited match.

Asia Cup 2023 Match Schedule

The Asia Cup 2023 has not started yet. The first match, between Pakistan and Nepal, is scheduled to be played on August 30, 2023, at the Multan International Cricket Stadium in Multan, Pakistan. The match will start at 9:30 AM IST.

Asia Cup 2023 Live Streaming

The future competition will be free to access via the Disney+Hotstar mobile app. However, it’s important to note that this free live-streaming deal is only available on the mobile app; if you want to view the live events on larger screens, you’ll need to subscribe. This strategy is designed to serve the enthusiastic cricket fanbase, offering them convenient entry to the Asia Cup 2023 matches. Disney+Hotstar’s decision aims to captivate fans and enrich their cricket-watching experience.

Asia Cup 2023 Schedule

The Asia Cricket Council (ACC) has released the official schedule for the Asia Cup 2023. However, if things go as intended, an announcement regarding the official schedule. Provided below is a preliminary schedule for the Asia Cup 2023 for your information. Below we have added the Asia cup 2023 all-match schedule.

Asia Cup 2023, Points Table- Group A

Asia Cup 2023, Points Table- Group B

Asia Cup 2023 Team Players Announced

India Team for Asia Cup 2023

India: Rohit Sharma, Shubman Gill, Virat Kohli, Shreyas Iyer, KL Rahul, Suryakumar Yadav, Tilak Varma, Ishan Kishan, Hardik Pandya, Ravindra Jadeja, Axar Patel, Shardul Thakur, Jasprit Bumrah, Mohammed Shami, Mohammed Siraj, Kuldeep Yadav, Prasidh Krishna, and Sanju Samson (back up).

Nepal Team for Asia Cup 2023

Nepal: Rohit Paudel (captain), Mahamad Asif Sheikh, Kushal Bhurtel, Lalit Rajbanshi, Bhim Sharki, Kushal Malla, Dipendra Singh Airee, Sandeep Lamichhane, Karan KC, Gulshan Kumar Jha, Aarif Sheikh, Sompal Kami, Pratish GC, Kishor Mahato, Sundeep Jora, Arjun Saud, Shyam Dhakal

Pakistan Team for Asia Cup 2023

Pakistan: Abdullah Shafique, Fakhar Zaman, Imam-ul-Haq, Babar Azam (captain), Salman Ali Agha, Iftikhar Ahmed, Tayyab Tahir, Saud Shakeel, Mohammad Rizwan, Mohammad Haris, Shadab Khan, Mohammad Nawaz, Usama Mir, Faheem Ashraf, Haris Rauf, Mohammad Wasim, Naseem Shah, Shaheen Afridi

Bangladesh Team for Asia Cup 2023

Bangladesh: Shakib Al Hasan (captain), Litton Das, Tanzid Tamim, Najmul Hossain Shanto, Towhid Hridoy, Mushfiqur Rahim, Mehidy Hasan Miraz, Taskin Ahmed, Mustafizur Rahman, Hasan Mahmud, Sheikh Mahedi, Nasum Ahmed, Shamim Hossain, Afif Hossain, Shoriful Islam, Ebadot Hossain, Naim Sheikh

Asia Cup 2023 Format

• The tournament format and groupings for the upcoming cricket tournament announced on January 9, 2023, have set the stage for an exciting competition. The six participating teams have been divided into two groups of three each. A total of 13 matches will be played throughout the tournament, comprising six league matches, six Super 4 matches, and a final.
• Group A consists of India, Pakistan, and Nepal. These three teams emerged as champions in the qualifier event, the 2023 ACC Men’s Premier Cup. On the other hand, Group B includes the defending champions, Sri Lanka, along with Bangladesh and Afghanistan.
• During the league stage, each team in their respective groups will compete against each other. After the completion of the league matches, the top two teams from both Group A and Group B will advance to the Super 4 stage.

Daily Current Affairs Quiz:

Asia Cup 2023 Venues and Location

Pakistan and Sri Lanka will host the Asia Cup cricket tournament in 2023. Keep watching this space for updates on the venue. This is the most popular cup at this time. This year’s tournament is to be played in a 50-over format.

Asia Cup 2023 Groups

Board of Control for Cricket in India Secretary Jay Sah confirmed that India and Pakistan are in the same group for ODI Asia Cup 2023.

Group 1:

Group 2:

Asia Cup 2023 Details

Jaya Verma Sinha 1st Woman Chairperson to Head the Railway Board

The government appointed Jaya Verma Sinha as the first woman Chairperson of the Railway Board, the top decision-making body for the Ministry of Railways. Ms. Sinha is the Board’s first female chairman in its 118-year history. The Railway Board was established in 1905. She will take office on or after September 1st, having previously served as the Member (Operations and Business Development). She was at the forefront while handling the aftermath of the tragic Balasore accident which killed 291 people. Her tenure will be till August 31, 2024.

Daily Current Affairs Quiz

Know more about Ms. Sinha

Ms. Sinha was earlier slated to retire on October 1, but she will be re-employed the same day till her tenure gets over. She succeeds Anil Kumar Lahoti. Ms. Sinha is an Alumnus of the Allahabad University. She joined the Indian Railway Traffic Service in 1988 and worked in the Northern Railway, South Eastern Railway and Eastern Railway. She has also served in Centre for Railway Electrification (CORE). She also spent four years as a Railway Advisor at the Indian High Commission in Dhaka, Bangladesh. During her time in Bangladesh, the Maitree Express from Kolkata to Dhaka was opened. She also worked as the Divisional Railway Manager, Eastern Railway, Sealdah Division.

About the Railway Board of India

The Railway Board of India is the apex body of the Indian Railways. It is responsible for the overall administration and management of the railways. The board is headed by the Chairman, who is a member of the Union Cabinet. The other members of the board are the Railway Minister, the Financial Commissioner, the Principal Chief Engineer, and the Principal Chief Accounts Officer.

The Railway Board’s headquarters are in New Delhi. It is divided into various departments, each of which is in charge of a different aspect of railway operations. These departments include the Traffic Department, the Engineering Department, the Finance Department, the Personnel Department, and the Stores Department.

The Railway Board is responsible for formulating policies and strategies for the development and operation of the railways. It also monitors the performance of the railways and takes corrective measures as necessary. The board also works with the government and other stakeholders to ensure that the trains run smoothly.

The Railway Board is a vital institution for the Indian Railways. It plays a key role in ensuring the efficient and effective operation of the railways. The board is constantly working to improve the railways and make them more accessible and affordable to the people of India.

Here are some of the functions of the Railway Board of India:

• Formulating policies and strategies for the development and operation of the railways.
• Monitoring the performance of the railways and taking corrective measures as necessary.
• Interacting with the government and other stakeholders to ensure the smooth functioning of the railways.
• Approving major projects and investments.
• Allocating resources to different railway zones.
• Overseeing the recruitment and training of railway personnel.
• Ensuring the safety and security of railway operations.
• Promoting research and development in railway technology.
• Representing the Indian Railways at international forums.

The Railway Board is a powerful body that has a significant impact on the Indian Railways. It is responsible for the overall administration and management of the railways, and its decisions have a major impact on the lives of millions of people.

Gabon Military Seizes Power Following Disputed Election: A Series of Coups in West and Central Africa

Gabon, a Central African oil-producing country, has experienced a coup orchestrated by military officers. After being declared the winner of a contested election, President Ali Bongo was placed under house arrest. This marks the eighth coup in West and Central Africa since 2020, reflecting a trend of democratic setbacks in the region. Other countries like Mali, Guinea, Burkina Faso, and Chad have also witnessed military takeovers, raising concerns for regional stability and foreign interests.

Daily Current Affairs Quiz: August 2023

Coup Details:

Military officers announced the seizure of power, canceling election results and dissolving state institutions. The officers declared President Bongo’s victory invalid and placed him under house arrest. General Brice Oligui Nguema was appointed as the new leader through a unanimous vote by generals.

President’s Appeal and Public Reaction:

• From detention, President Bongo appealed to foreign allies for assistance, expressing concern about the situation.
• The military intervention was celebrated by hundreds of people in the capital, Libreville.
• The coup was criticised by international organisations such as the United Nations, the African Union, and France (Gabon’s former colonial master).

Regional Context:

The coup in Gabon is part of a series of military takeovers in the region since 2020. Democratic gains achieved since the 1990s are being undermined, causing concern among foreign powers with strategic interests in the area. Previous instances include coup attempts in Niger, Mali, Guinea, Burkina Faso, and Chad.

Bongo Family’s Rule and Challenges:

President Ali Bongo succeeded his father Omar in 2009, carrying on a family tradition that began in 1967. Critics claim that the Bongo family hasn’t adequately shared the country’s oil and mining wealth with its population of 2.3 million.

Election Controversy:

Violent unrest followed President Bongo’s contested election victory in 2016, and a coup attempt was foiled in 2019. Due to the absence of international observers, the suspension of foreign broadcasts, and internet restrictions, the recent election (August 26) raised transparency issues.

Economic and Geopolitical Implications:

Gabon is an oil-producing nation, generating about 200,000 barrels per day, with international companies like TotalEnergies and Perenco involved. The coup introduces uncertainty for France’s regional presence, with concerns about the stability of foreign investments and military deployments.

Russia Launches Islamic Banking Pilot Program: Exploring Shariah-based Finance

Russia is set to embark on a historic journey by launching its first Islamic banking pilot program on September 1. With a Muslim population of around 25 million people, the move hopes to capitalise on the potential of Islamic finance, which has already had a presence through institutions but has lacked formal recognition. President Vladimir Putin’s recent endorsement of the initiative signifies a significant step towards embracing Islamic banking principles in the country.

Daily Current Affairs Quiz: August 2023

Islamic Banking: Core Principles and Distinctive Features

1. Shariah Compliance and Ethical Framework: Islamic banking operates on the principles of Shariah, the Islamic legal system that prohibits usurious transactions and interest charges due to their perceived injustice. This fundamental difference sets it apart from conventional banking practices.

2. Asset-based Model and Partnership Structure: Conventional finance relies on debt-based transactions, where clients bear the entire risk and liability. Islamic banking, on the other hand, is built on an asset-based approach that emphasises shared profits and risks between financial institutions and clients through partnership arrangements.

3. Socially Responsible Investments: One notable distinction is that Islamic banking avoids sectors deemed harmful to society, such as alcohol, cigarettes, and gambling. This ethical stance aligns with the principles of Shariah, promoting responsible financial practices.

4. Prohibition of Speculation and Risky Transactions: Unlike traditional finance, Islamic banking forbids funding speculation, financial derivatives, and deals lacking tangible assets. This prohibition aims to mitigate risks and prevent financial crises akin to the global economic downturn.

Motivations behind Russia’s Introduction of Islamic Banking

1. Economic Growth Potential: Russia’s largest lender, Sberbank, highlights the rapid growth rate of the Islamic banking sector at around 40 percent annually. Experts predict that this sector will be worth $7.7 trillion by 2025, making it an appealing path for economic growth and investment.

2. Regulatory Framework and Client Protection: Acknowledging the expanding Islamic finance market, regulatory oversight becomes essential. The introduction of Islamic banking represents a step towards establishing a regulatory framework and ensuring investor and client protection.

3. Overcoming Limitations of Conventional Banking: While Russia offers state support programs for mortgage financing and small to medium enterprises, these initiatives rely on interest-bearing loans, which conflict with Shariah principles. The new law aims to address those limitations and create opportunities for Islamic finance to thrive.

Geopolitical and Economic Influences

1. Preceding Economic Crises and Alternative Funding: The discussions around Islamic banking in Russia trace back to the 2008 financial crisis when banks faced liquidity shortages and sought alternative funding sources. This initiative, long-awaited, emerges as a solution to diversify funding options.

2. Western Sanctions and Eastern Alliances: Following the annexation of Crimea in 2014, Western sanctions intensified pressure on Russian banks. The idea of Islamic banking gained traction as a means to establish ties with economies in Muslim-majority countries, reducing reliance on Western financial systems.

3. Strengthening Economic Ties with the East: While energy revenues have shielded Russia from direct impacts of Western sanctions, the Islamic banking experiment symbolizes an effort to bolster the country’s economic ties with the East. The emphasis on making Russia more appealing to international investors from Shariah-compliant jurisdictions illustrates this shift.

Nagaland Becomes First State In North Eastern Region To Initiate Aadhaar Linked Birth Registration

Nagaland has taken a pioneering step in the North Eastern region by launching the Aadhaar-Linked Birth Registration (ALBR) system. This groundbreaking initiative focuses on simplifying the procedures of birth registration and Aadhaar enrolment for children aged 0 to 5 years.

Daily Current Affairs Quiz: August 2023

The launch was officially kicked off by Commissioner T Mhabemo Yanthan. A live demonstration during the launch ceremony resulted in the successful registration of two newborn infants. This achievement represents a noteworthy advancement in guaranteeing that every child can rightfully access social welfare services.

Enhancing Birth Registration and Aadhaar Enrolment

The initiative aims to improve the overall journey for both parents and children throughout the crucial phases of birth registration and Aadhaar enrolment. Through ALBR, Aadhaar enrolling occurs concurrently with birth, effortlessly integrating it with the registration procedure. This enrollment method is facilitated smoothly using a tablet under the supervision of (Child Enrolment Lite Client) CELC Operators, necessitating only a proof of relationship document for enrolling the child.

Empowering Each Child with Unique Identity

One of the paramount benefits of the ALBR system is the conferment of a unique identity upon infants. This distinct identity not only enables correct tracking of important services like as immunisation, Integrated Child Development Services (ICDS), education, and numerous social welfare provisions, but also delivers convenience and efficiency to both parents and involved departments.

Key Role of Directorate of Economics and Statistics

To ensure the successful implementation of the ALBR system and its accessibility across different districts, the Directorate of Economics and Statistics, Nagaland, which also functions as the Registrar for Birth and Death for the state, has been integrated into the UIDAI ecosystem. This integration allows the directorate to serve as a Registrar/enrolling Agency, in charge of child enrolling via the ALBR process.

With the ALBR initiative now in motion, This groundbreaking endeavor is set to benefit children in their formative years and contribute to the realization of their rights and entitlements, ensuring a brighter future for the state’s youngest citizens.

Key takeaways for competitive examinations

• Director of Economics and Statistics, Nagaland: Neidilhou Angami

PNB Launches App To Enable MSMEs Access Instant Loans Using GST Invoices

Punjab National Bank (PNB) has become the first public sector bank to facilitate effortless credit availability for Micro, Small, and Medium Enterprises (MSMEs) via GST invoices. The bank has unveiled a dedicated mobile application for the GST Sahay scheme. This innovative digital solution facilitates comprehensive lending procedures based on GST invoices, ensuring a seamless end-to-end process.

Daily Current Affairs Quiz: August 2023

Streamlining Loan Processes with PNB GST Sahay App

The newly launched PNB GST Sahay App transforms the entire loan application process into a digital format, eliminating the need for manual intervention on the borrower’s part. The app streamlines the process, making it more cost-effective, expeditious, and efficient. Notably, the sanctioned loan amount will be directly deposited into the borrower’s current account maintained with the bank.

Noteworthy features of the PNB GST Sahay App

• Digitized End-to-End Lending: The app facilitates a fully digital lending process, diminishing the necessity for manual interventions. This not only saves time, but it also reduces errors and inefficiencies in the loan application process.
• Economical and Seamless Process: By eradicating manual steps, the lending procedure becomes more economical and seamless for both the bank and borrowers. This efficacy can lead to swifter loan approvals and disbursements.
• Direct Loan Disbursement: Loans sanctioned through the app are directly transferred to the borrower’s active account maintained with PNB, guaranteeing a seamless and rapid fund transfer.
• Technology-Driven Evaluation: The app employs technology to assess market reports, appraisals, and other determinants affecting loan eligibility. This mitigates bottlenecks and delays in loan processing.
• Loan Spectrum and Repayment Alternatives: The app offers invoice loans ranging from Rs 10,000 to Rs 2 lakh, with a maximum credit amount of Rs 10 lakh per borrower. Borrowers can also opt for hassle-free one-time repayment and pre-payment.
• Integration with GST Profile: The loans are linked to the borrower’s GST profile, providing the bank with valuable insights into the borrower’s business operations and financial well-being.
• MSME Focus: This project is consistent with the Indian government’s focus on supporting and fostering micro, small, and medium-sized firms (MSMEs), which are critical to the country’s economy.

Key takeaways for competitive examinations

• Managing Director and CEO of Punjab National Bank: Atul Kumar Goel

Centre Launches ‘Awareness Campaign And Training Of Trainers’ Initiative

Union Tribal Affairs Minister Arjun Munda has inaugurated the ‘Awareness Campaign and Training of Trainers’ initiative.

Aim: To educate grassroots workers and enable them to raise awareness about sickle cell anaemia, particularly in tribal regions

The government aims to eradicate the disease by 2047, under its National Sickle Cell Anaemia Elimination Mission targets.

Daily Current Affairs Quiz: August 2023

Prime Minister Narendra Modi formally launched the mission on July 1 in Madhya Pradesh’s Shahdol district. Mr Munda said that the training initiative advances Prime Minister Modi’s vision of a sickle cell disease-free India, driven by community involvement.

He acknowledged both challenges and opportunities in realising the initiative’s success and emphasised the need to engage the community at the grassroots and fostering public participation in a movement to eliminate the disease. Countering misconceptions among the masses and building a collaborative ecosystem are crucial steps, he said. The minister also underscored the importance of establishing a healthcare database for affected populations to support research and sustainable solutions.

Govt to set up 1,000 Khelo India Centres in country within a year

Youth Affairs Minister, Anurag Singh Thakur has announced that 1,000 Khelo India Centres will be established within a year in the country.

Daily Current Affairs Quiz: August 2023

Launching key initiatives on Indian Sports in New Delhi on the occasion of National Sports Day on 29 Aug 2023, the Minister said that it will not only provide employment opportunities to former athletes but also give budding sportspersons a chance to take guidance from the veterans. Mr Thakur also informed that the each player will receive five lakh rupees to procure equipments for their centres and per year another five lakh rupees for operational expenses. 

He also informed that each player will receive 5 lakh rupees to procure equipment for their centres and per year another 5 lakh rupees for operational expenses. He also launched an Information booklet on Sports Infrastructure Projects sanctioned under the Khelo India Scheme as well as launched a National Sports Federations portal.

Centre announces up to Rs 50 lakh grant for technical textiles startups

The Textiles ministry released the guidelines of the GREAT scheme (Grant for Research and Entrepreneurship across Aspiring Innovators in Technical Textiles), under which they will provide a grant-in-aid of up to Rs 50 lakh for startups and individuals to promote innovation in the niche technical textiles segment.

Daily Current Affairs Quiz: August 2023

They would grant-in-aid of up to Rs 50 lakh for up to a period of 18 months. Additionally, they will provide 10% of the total grant-in-aid to incubators.

With a strong emphasis on developing the Startup Ecosystem in Technical Textiles, the guidelines focus on supporting individuals and companies to translate prototypes to technologies & products, including commercialisation, he told reporters here on the important developments in the National Technical Textiles Mission (NTTM).

NASA to test end-to-end laser communication in space

NASA is launching a groundbreaking technology demonstration known as the Integrated LCRD Low Earth Orbit User Modem and Amplifier Terminal (ILLUMA-T) to the Space Station.

Daily Current Affairs Quiz: August 2023

ILLUMA-T is scheduled to launch on SpaceX’s 29th Commercial Resupply mission.

Aim: To enhance space communications capabilities

The ILLUMA-T, along with the Laser Communications Relay Demonstration (LCRD) launched in December 2021, will complete NASA’s first two-way, end-to-end laser relay system.

Ministry of Social Justice and NSKFDC sign MoU

The Ministry of Social Justice & Empowerment and the National Safai Karamcharis Finance and Development Corporation (NSKFDC) signed an MoU for 2023-25.

Aim: To enhance the socio-economic upliftment of Safai Karamcharis, and their dependants focusing on empowering these marginalized communities across the nation.

Daily Current Affairs Quiz: August 2023

The MoU underscores the commitment to accelerate inclusive growth through the effective allocation and utilization of funds for targeted welfare programs.

It focuses on complete mechanization of Sewer and Septic Tank cleaning operation by providing soft loans at low rates of interest to Sanitation Workers, Urban Local Bodies. Capital subsidy ranging from 50 to 32 percent is provided to sanitation workers taking up mechanized cleaning works under Swachhta Udyami Yojana (SUY). Adequate training is provided free of cost to sanitation workers regarding safety precautions, use of PPE kits and operation and maintenance of cleaning machines and equipments.

NSKFDC also provides loans upto Rs.1.00 lacs under its Mahila Samridhi Yojana and Micro Credit Finance Scheme. The overall rate of interest is 4% and 5%, respectively. The other loan schemes are General Term Loan and Green Business Schemes under which loans upto Rs.15.00 lacs and upto Rs.30.00 lacs respectively are provided with rate of interest at 6% and 1% rebate for women beneficiaries.