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 28 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.
RBI deputy governor M Rajeshwar Rao gets term extension by one year
The central government extended the term of M Rajeshwar Rao as the Reserve Bank of India’s (RBI) Deputy Governor by one year.
The re-appointment has been approved by the Cabinet’s Appointments Committee.
RBI has four deputy governors – two from within the ranks, one commercial banker and another an economist to head the monetary policy department.
Currently, those 4 Deputy Governors are BP Kanungo, Dr. M.D. Patra, M Rajeshwar Rao, and MK Jain.
World Maritime Day 2023: Date, Theme, History and Significance
World Maritime Day is celebrated on the last Thursday of every September, on September 28 this year, to honor the tireless work of the international maritime industry workers. The World Maritime Day 2023 takes place on 28 September 2023. The word ‘maritime’ comes from the Latin word ‘maritimus,’ which means ‘of the sea.’ The day illuminates the role that every maritime officer, service agent, and seafarer plays in our individual lives. Life at sea is hard. Long hours, precarious pay, and the emotional toll of being separated from your family for months can be an intense challenge. Since 1978, every last Thursday of September has been celebrated as World Maritime Day. The day coincides with the establishment of the International Maritime Organisation in 1958.
Theme of World Maritime Day 2023
This year’s World Maritime theme is “MARPOL at 50 – Our commitment goes on”. The theme reflects the organization’s long history of protecting the environment from the impact of shipping via a robust regulatory framework and emphasizes its ongoing commitment to this important work.
History of the World Maritime Day
A safe and reliable international shipping industry is the foundation of the global free market. Being a cost-effective and efficient mode of transportation makes it an indispensable asset to our shared prosperity. The shipping industry employs over 1.5 million people.
- The International Maritime Organization was established in 1948 to regulate the shipping industry. IMO maintains a comprehensive framework that includes technical cooperation, environmental regulation, legal remedies, and safety for all its staff.
- For years, the International Maritime Organisation’s biggest focus has been to develop sustainable working conditions for its global staff. IMO seeks to establish an institutional framework that prepares us for a green future. The influx of new technology, innovative techniques, efficient training, and heightened security are some of its recent measures.
- Decades after its establishment, the International Maritime Organization declared the last Thursday of every September as World Maritime Day. A theme is dedicated to the celebration each year.
- World Maritime Day is observed to make the voices of seafarers heard and understood. Life at sea is risky and comes with brand new challenges every day. The well-being and security of our seafarers are instrumental to the success of the global economy. For long, their tireless work has been taken for granted, IMO seeks to change that.
Important takeaways for all competitive exams:
- International Maritime Organization Headquarters: London, United Kingdom;
- International Maritime Organization Founded: 17 March 1958;
- International Maritime Organization Founder: United Nations;
- International Maritime Organization Secretary-General: Kitack Lim.
REC With Punjab National Bank To Lend Up To ₹55,000 Crore To Power, Infra Projects
In a significant development for the Indian power and infrastructure sectors, state-run REC Ltd. has entered into a Memorandum of Understanding (MoU) with Punjab National Bank (PNB) to explore collaborative opportunities for funding projects in these sectors under a consortium arrangement. This partnership aims to co-finance loans amounting to a substantial ₹55,000 crore over the next three years, according to an official statement released by REC.
Ministry of Power’s Approval
While expressing confidence in REC, the Ministry of Power has granted the company permission to diversify its lending portfolio beyond the power sector. This decision aligns with the ministry’s commitment to contribute to the accelerated development of our nation. Notably, REC can now finance up to 33% of its outstanding loan book in the power sector.
REC’s Remarkable Progress in the Infrastructure Sector
During the first year itself, REC has sanctioned more than ₹85,700 crore towards various projects spanning from metro, ports, airports, oil refineries, highways, steel infrastructure to healthcare, educational institutions, and IT infrastructure/fiber optics, among others. These constitute about 32% of the overall sanctions of the company in the last financial year.
REC’s Dual Focus: Power and Non-Power Infrastructure
REC has traditionally provided long-term loans and other financial products for the power-infrastructure sector, encompassing generation, transmission, distribution, renewable energy, and emerging technologies such as electric vehicles, battery storage, and green hydrogen. However, it has recently diversified into the non-power infrastructure sector, expanding its loan book to above ₹4.54 trillion.
Green Initiatives: REC’s Commitment to Renewable Energy
In line with India’s energy transition journey, REC is committed to increasing its focus on green projects. The NBFC has ambitious plans to expand its loan portfolio for green projects to ₹3 trillion by 2030. CMD Dewangan stated, “REC will be known for its renewable energy initiatives, encompassing solar, wind, hybrid, and e-mobility projects, as well as emerging spaces like green hydrogen, green ammonia projects, round-the-clock projects, and ethanol manufacturing. REC is committed to increasing its present loan portfolio of green projects to the extent of more than ten times by the year 2030, amounting to ₹3 lakh crore.
International Financing: REC’s Recent Fundraising Efforts
Notably, in April, REC successfully raised $1.15 billion in loans. These loans come with a 5-year tenor and are benchmarked to the Overnight Secured Overnight Financing Rate (SOFR), which serves as the benchmark rate for loans denominated in USD. The proceeds from this facility will also be utilized to fund power, infrastructure, and logistics sector projects, in line with the guidelines of the Reserve Bank of India regarding External Commercial Borrowings (ECB).
Conclusion
The collaboration between REC Ltd. and Punjab National Bank signifies a significant step forward in facilitating the financing of power and infrastructure projects in India. With REC’s expanding portfolio and commitment to green initiatives, the partnership is poised to contribute to the nation’s growth and development in these crucial sectors.
Key takeaways for competitive examination
- Chairman and Managing Director (CMD) of REC: Mr. Vivek Kumar Dewangan
- Minister of Power, New & Renewable Energy: Shri R.K. Singh
Katrina Kaif appointed as first Indian brand ambassador of Uniqlo
Japanese apparel retailer Uniqlo has appointed Bollywood actress Katrina Kaif as its first brand ambassador in India and attempts to woo affluent shoppers and plans to add to more stores.
The 40-year-old actor will be seen in Uniqlo’s campaign films across digital and offline channels.
Kaif joins the ranks of tennis star Roger Federer, who was appointed as Uniqlo’s global brand ambassador in 2018.
Uniqlo is part of Japan’s largest fashion group Fast Retailing.
RBI Imposes Monetary Penalty On SBI, IB, Punjab & Sind Bank
The RBI imposed monetary penalties on three banks, State Bank of India, Indian Bank and Punjab & Sind Bank, and Fedbank Financial Services for rule violations.
The central bank imposed Rs 1.30 crore on SBI, Rs 1.62 crore penalty on IB, Rs 1 crore on Punjab & Sind Bank, and Rs 8.80 lakh on Fedbank Financial Services.
This penalty has been imposed under the provisions of Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949
Chhattisgarh bags three national awards for Ayushman Bharat scheme
Chhattisgarh received three national awards for its outstanding execution of the Ayushman Bharat scheme under the ‘big states’ category.
CM Bhupesh Baghel said that Chhattisgarh has introduced several innovative schemes to enhance access to high-quality healthcare services in the past five years.
One such initiative is the Mukhyamantri Haat Bazar Clinic Yojana, which extends free healthcare services to residents in remote forest areas of the state.
Infosys ties with Microsoft for industry-wide adoption of generative AI
IT major Infosys is collaborating with Microsoft to jointly develop industry-leading solutions that leverage Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services.
Both organizations are bringing together their respective AI capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries.
The integrated solutions will accelerate rapid democratization of data and intelligence that will help businesses increase productivity
Odisha Scientist Swati Nayak wins Norman Borlaug Field Award 2023
Indian agricultural scientist Swati Nayak became the third Indian agriculture scientist to win the prestigious Norman Borlaug Field Award 2023.
The Norman Borlaug Field Award 2023 is presented by the World Food Prize Foundation for outstanding achievements in international agriculture and food production by individuals under 40.
Nayak speaks to businessline about the importance of the award, her work with the agricultural community and more.
Arogya Manthan 2023: Celebrating 5 Years of Ayushman Bharat PM-JAY and 2 Years of Ayushman Bharat Digital Mission
The National Health Authority (NHA), under the Ministry of Health and Family Welfare (MoHFW), is set to host a two-day event known as ‘Arogya Manthan’ in New Delhi. This event is being organized to commemorate two significant milestones in India’s healthcare sector: the 5th anniversary of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) and the 2nd anniversary of the Ayushman Bharat Digital Mission (ABDM).
Arogya Manthan 2023, taking place on September 25th and 26th, promises to be an engaging forum filled with insightful discussions and deliberations on various aspects of these two transformative healthcare schemes.
Objective and Focus of Arogya Manthan 2023:
Arogya Manthan 2023 aims to achieve the following objectives:
- Discussion of Challenges: The event will facilitate in-depth discussions on the challenges faced in implementing these healthcare schemes and finding solutions.
- Trends Analysis: Participants will analyze emerging healthcare trends and their implications for the future of Indian healthcare.
- Best Practices Sharing: Best practices from various stakeholders will be shared, promoting knowledge exchange and synergy.
Ayushman Bharat PM-JAY – A Health Success Story:
AB PM-JAY, launched on September 23, 2018, has been a resounding success:
- 5.5 Crore Free Hospitalizations: The scheme has provided free hospitalizations to 5.5 crore individuals, with a total value of Rs. 69,000 Crore.
- Health Security: It has not only ensured good health for millions of underprivileged families but has also shielded them from catastrophic healthcare expenses.
Ayushman Bharat Digital Mission – A Digital Healthcare Revolution:
ABDM, initiated on September 27, 2021, has ushered in a digital healthcare transformation:
- Digital Highway: The mission aspires to create a digital highway connecting various healthcare stakeholders.
- Ayushman Bharat Health Account (ABHA): Over the past two years, more than 45 Crore ABHA accounts have been established.
- Health Records Integration: More than 30 Crore health records have been linked to ABHA accounts, enhancing healthcare delivery.
Universal Health Coverage (UHC):
Both flagship healthcare schemes share a common goal of achieving Universal Health Coverage (UHC) in India. Their collective efforts strive to make healthcare accessible, available, affordable, and scalable for all citizens.
RBI clears K N Madhusoodanan as part-time chairman of Dhanlaxmi Bank
The RB appointed KN Madhusoodanan as a part-time chairman of Dhanlaxmi Bank.
He will be part-time chairman of the Kerala-based bank for a period of three years with effect from September 26, 2023.
Madhusoodanan has been an independent director with the bank since 2022.
This appointment also follows the RBI’s rejection of a proposal to appoint G Rajagopalan Nair as its part-time chairman.
Nair has also been an independent director with the bank since August 2020.
World Rabies Day 2023: Date, Theme, Significance & History
World Rabies Day (WDR), observed every September 28, serves as a global initiative to raise awareness about rabies, a deadly zoonotic disease that claims the lives of thousands of people each year. Established by the Global Alliance for Rabies Control (GARC) and recognized by the World Health Organization (WHO), this day aims to promote efforts to combat rabies and highlight the importance of prevention. In this article, we delve into the significance of World Rabies Day, its theme for 2023, and the global fight against this relentless disease.
Understanding Rabies: A Fatal Threat
Rabies: A Lethal Zoonotic Disease
Rabies is a viral disease with a 100% fatality rate if left untreated. It is primarily transmitted to humans through the saliva of infected animals, most commonly via animal bites. Stray dogs and unvaccinated domestic dogs are frequent carriers of the rabies virus. The symptoms of rabies include headaches, high fever, excessive salivation, paralysis, mental disturbances, and confusion, ultimately leading to death in many cases.
Significance of World Rabies Day
Global Awareness and Collaboration
World Rabies Day serves as a pivotal platform for a global network of government agencies, non-governmental organizations (NGOs), and vaccine manufacturers to join forces in the battle against rabies. Experts lead campaigns, events, and conferences to raise awareness about the disease and its prevention. Governments also announce policies and initiatives aimed at eradicating rabies.
The Road to Zero Deaths by 2030
A long-term goal underpins World Rabies Day – the Global Strategic Plan for the eradication of dog-mediated rabies. This ambitious plan seeks to achieve zero deaths due to rabies transmitted by dogs by the year 2030. It underscores the commitment of the international community to eliminate this preventable disease.
World Rabies Day 2023: “All for 1, One Health for All”
Intersectoral and Multidisciplinary Approach
This year’s theme, “All for 1, One Health for All,” underscores the need for a collaborative, intersectoral, and multidisciplinary approach to combat rabies effectively. It emphasizes the pivotal roles played by professionals in the human, animal, and environmental health sectors in preventing the spread of rabies.
World Rabies Day, History and Evolution
Inaugural Campaign
The inaugural World Rabies Day campaign occurred in 2007 and marked the beginning of a concerted effort to combat rabies on a global scale. The campaign was a collaborative endeavor involving organizations such as the Alliance for Rabies Control and the Centers for Disease Control and Prevention in Atlanta. It gained further prominence with the co-sponsorship of the World Health Organization, the World Organisation for Animal Health, and the Pan American Health Organization.
Growing Impact
Over the years, World Rabies Day has evolved into a powerful tool for raising awareness and taking concrete actions. Events and educational activities are organized in over 100 countries, reaching more than 100 million people. Importantly, millions of dogs are vaccinated, contributing to the prevention of rabies transmission.
Conclusion
World Rabies Day stands as a global call to action against a disease that needlessly claims lives. Through awareness, prevention efforts, and collaborative strategies, the world is moving closer to the ambitious goal of zero rabies deaths by 2030. As we observe this day, let us unite in our determination to create a rabies-free world, where the threat of this deadly disease is eliminated, and all can live without the fear of rabies.
Important takeaways for all competitive exams:
- World Organisation for Animal Health Headquarters: Paris, France;
- World Organisation for Animal Health Founded: 25 January 1924;
- World Organisation for Animal Health Founder: Emmanuel Leclainche.
REC partners with PNB to finance projects in logistics, power, infra sector
Power PSU REC Ltd and public lender Punjab National Bank inked an agreement to co-finance projects in power, infrastructure and logistics projects.
The two entities will jointly finance loans worth Rs 55,000 crore.
Under the Ministry of Power, REC Limited provides long-term loans and other finance products for the power infrastructure sector, comprising generation, transmission and renewable energy, among others.
The company has a loan book of over Rs 4,54,393 crore.