Drone Manufacturer Dhaksha Wins Contract from Indian Army for supply of 200 Drones, AccessoriesChennai (Tamil Nadu) based Drone Manufacturer, Dhaksha Unmanned Systems Pvt. Ltd(DUMS), a subsidiary of Coromandel International Limited, an Agri-solutions provider, has bagged an order worth Rs 165 crore to supply 200 medium-altitude logistics drones, and accessories to the Indian Army.
- Recently, DUMS has also won a contract from the Indian Farmers Fertiliser Cooperative (IFFCO), agri inputs cooperative, to supply 400 agri-spraying drones.
- These two orders are set to be delivered within the next 12 months.
Note: Additionally, the DUMS‘ strong order pipeline further increases the potential for increased revenues for the ongoing year.
i.DUMS has been selected by the Indian Army to supply its logistics drones. The company is committed to building the latest technologies for drone manufacturing and serving to requirements of the defense sector as well as the farming community of India.
ii.The defense contract serves as a huge validation of Dhaksha’s technology capability and it recognises the company’s ability to capture opportunities in Unmanned Aerial Systems (UAS) space.
iii.The agri-spraying drones are designed to assist farmers in optimising crop management practices by providing precise and targeted spraying of fertilisers and pesticides.
iv.DUMS has a technology collaboration with Anna University, Chennai (Tamil Nadu) and is the 1st company in India to obtain the Directorate General of Civil Aviation DGCA Type Certification for the commercial sale of drone for 3 different drone models (Agri – Hybrid, Agri – Electric, and Surveillance drones).
About Dhaksha Unmanned Systems Pvt. Ltd:
Chief Executive Officer (CEO) & Director– Ramanathan Narayanan
Headquarters– Chennai, Tamil Nadu
Incorporated in– 2019
MSDE launched Special Skill Development Program for North East Region On 8th August 2023, The Ministry of Skill Development and Entrepreneurship (MSDE) launched ‘Transforming lives, building futures: Skill development and entrepreneurship in North-East’, a special skill development program to create a robust skill-centric and industry-ready ecosystem in North-Eastern Region (NER).
- The initiative was jointly unveiled by Dharmendra Pradhan, Union Minister, MSDE, Union Minister G. Kishan Reddy, Ministry of Development of North Eastern Region(MoDONER) and Rajeev Chandrasekhar, Minister of State(MoS) for MSDE in New Delhi, Delhi.
i.The government of India has allocated a substantial fund of Rs 360 crore to promote inclusive development, foster entrepreneurial talent, and catalyze socio-economic growth in the NER.
- It will benefit more than 2.5 lakh youth in phase one, which will make them job ready for domestic as well as international markets.
ii.The North East Skills Development and Entrepreneurship initiative emphasizes aligning courses with the National Skills Qualification Framework (NSQF), supported by digital infrastructure to develop well-rounded professionals through an ‘earn and learn’ mode.
iii.The Initiative includes:
- 2 Lakh skill training under Pradhan Mantri Kaushal Vikas Yojana (PMKVY)
- 30,000 Apprenticeship Engagement under National Apprenticeship Promotion Scheme (NAPS)
- 20,000 to be skilled under Jan Shikshan Sansthan (JSS)
- Quality enhancement of ITIs under skill strengthening for industrial value enhancement (STRIVE)
- Strengthening of Polytechnics
- Special projects will be taken up for the special needs of the North-East region under Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP)
- Skill India International Centre to be set up to promote overseas job opportunities.
iv.Additionally, efforts are being made to provide vocational education and skill development programs for skilled professionals in agriculture, tourism, handicrafts, and IT.
India’s eGov Foundation, UNDP Indonesia sign MoU to improve Medical Waste Management in IndonesiaThe United Nations Development Programme (UNDP) Indonesia and India’s eGov Foundation have signed a Memorandum of Understanding (MoU) to tackle the critical challenge of infectious medical waste management in Indonesia.
To utilize eGov Foundation’s Digital Public Infrastructure (DPI) – DIGIT (Digital Infrastructure for Governance, Impact & Transformation) to implement a cohesive solution at speed and scale
Need behind this MoU:
The need for this collaboration is highlighted by recent data from Indonesia’s Ministry of Environment and Forestry Affairs (MOEF), which reported a 30% increase in daily medical waste to 382 tons after the COVID-19 Pandemic, as compared to approximately 293 tons of pre-pandemic levels.
i.This MoU will bring visibility and accountability in the management of infectious medical waste in Indonesia’s 13,000 health facilities.
ii.Through the partnership, Indonesia will use eGov Foundation’s DIGIT Sanitation platform to handle various waste types.
- It should be noted that DIGIT is used in 6 countries with 16 governments and 100+ partners serving 250 million citizens, using flexible micro services architecture for large-scale deployment.
iii.Notably, UNDP Indonesia through the ME-SMILE is collaborating and utilizing the expertise of regional and global partners. ME-SMILE has started managing medical waste in 32 hospitals and 1 health center.
- Now, by teaming up with eGov’s DIGIT platform, they aim to expand waste traceability beyond medical waste.
Indonesia is moving its capital city from Jakarta to Nusantara, the island of Borneo. Currency– Indonesian Rupiah
President– Joko Widodo
AU SFB Launched India’s first 24×7 Video Banking ServiceOn 08th August 2023, AU Small Finance Bank (AU SFB), India’s Largest Small Finance Bank, became the first bank in India to offer 24X7 for 365 days video banking facility to all the customers(including account holders under Pradhan Mantri Jan Dhan Yojana(PMJDY) ) for free of cost.
- Video Banking provides customers with a branch-like experience, enabling them to engage in face-to-face interactions with AU Video Banking relationship managers over a video call.
- The customer needs to be at least 18 years of age and located within India while making the video call.
i.Opening of Savings Account & Booking for Fixed Deposit(FD).
ii.Initiating financial transactions like Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT) and Internal Fund Transfer.
iii.Other services like mobile number updation, address change, dormant account activation, registration of net banking without debit card.
- The Video Banking service for initiating account openings is accessible every day, including Sundays and Bank Holidays, only from 8 am to 9 pm.
- The Video Servicing feature, catering to inquiries and service requests, is operational only from 8 am to 8 pm.
Mode of connection: Via AU 0101 Mobile Application or by NetBanking.
- Verification of mobile numbers via One-Time-Password (OTP).
- Facial recognition powered by Artificial Intelligence(AI).
- Customised security queries.
- Recording of calls.
- Strict due diligence on all financial transactions and service requests.
i.For Account Opening- Original PAN Card.
ii.For Video Banking (Servicing)- Any Officially Valid Document (OVD) apart from Aadhaar.
Note: Video Know Your Customer (KYC) is a part of Video Banking which offers 400+ services.
About AU Small Finance Bank (AU SFB):
Managing Director & Chief Executive Officer(CEO) – Sanjay Agarwal
Headquarters – Jaipur, Rajasthan
Established in – 1996
Tagline – Badlaav Humse Hai
Airtel Payments Bank Launches India’s 1st Eco-Friendly Debit CardOn 8th August 2023, India’s first payment bank, Airtel Payment Bank also became the first Indian Bank to launch an eco-friendly debit card for its new and existing customers with a savings bank account.
- The debit cards will be crafted from recycle- Poly Vinyl Chloride (r-PVC) material, a certified eco-friendly material, against normal PVC cards.
- The introduction coincides with the Bank’s dedication to sustainability and its drive to advocate for environmentally conscious practices within the financial industry.
i.Each production batch of 50,000 cards will result in a reduction of 350 kgs of carbon emissions compared to the traditional PVC cards commonly used in the market.
ii.The production of r-PVC cards will lead to a 43% reduction in hydrocarbon consumption, playing a role in curbing petroleum usage during the manufacturing process.
iii.With each batch of r-PVC cards contributing to the conservation of an 6.6 million litres of water.
About new Debit cards:
Airtel Payments Bank debit card comes in two variants(under Classic variant)
i.Personalised Classic Card – Availed through the Airtel Thanks mobile application.
ii.Insta Classic Card – Availed at selected neighbourhood banking points (by the close of the current quarter).
Note: The cards also offer the rewards with e-commerce benefits of up to INR 10,000, as well as complimentary One Dines experiences in major cities across India.
About Airtel Payments Bank Limited:
Managing Director(MD) & Chief Executive Officer(CEO) – Anubrata Biswas
Headquarters – New Delhi, Delhi
Established in – 2017
Exim Bank of India launches Factoring Subsidiary ‘Exim Finserve’ in GIFT City, GujaratOn August 8, 2023, the Export-Import Bank of India (Exim Bank of India) launched its subsidiary- India Exim Finserve IFSC Private Limited (Exim Finserve) at the Gujarat International Financial Tec (GIFT) City in Gandhinagar, Gujarat.
- It was inaugurated by Dr. Vivek Joshi, Secretary, Department of Financial Services (DFS), Ministry of Finance.
- This subsidiary is set to provide a suite of trade finance solutions to Indian exporters, with a primary emphasis on export factoring.
- Exim Finserve is the first finance company in GIFT City for export factoring.
Note: The subsidiary of Exim Bank was announced in the Union Budget 2023 by Union Finance Minister Nirmala Sitharaman.
Services to be provided by Exim Finserve to Exporters:
The subsidiary aims to empower exporters with a trio of services:
i.The services by Exim Finserve will improve cash flow and reduced payment risk for exporters.
- It will enhance the export competitiveness of Micro, Small, and Medium Enterprises (MSMEs) as they can provide attractive credit terms to buyers without facing associated risks.
ii.During the launch event, Exim Bank also released a study titled “Strengthening Collaborations to Bridge the Trade Finance Gap: Insights for G20 Countries”. The study notes that the trade finance gap expanded to US$ 2 trillion in 2021/22.
About Exim Bank of India:
Managing Director– Harsha Bangari
Headquarters– Mumbai, Maharashtra
PayU and CSC Academy to offer Financial Education to Underprivileged People
PayU India and CSC Academy collaborated to provide digital and financial literacy to the weak and underprivileged segments of society from July 1 2023 to June 30, 2024.
- Under this Mobile vans will be stationed in and around three districts in Delhi/Gurugram (Haryana), Mumbai (Maharashtra), and Bengaluru (Karnataka) to provide financial and digital literacy instructions as well as other civic services for people between the ages of 15 and 60.
- Underprivileged segments of society include SC (Scheduled Caste), ST (Scheduled Tribe), BPL (Below Poverty Line), and Women.
Note: PayU India is a leading online payment service provider in India, and CSC Academy is a SPV (Special Purpose Vehicle) of the Ministry of Electronics & Information Technology (MeitY).
i.The main objective of this campaign is to improve the standard of living for an expanding number of people by including them in the Government of India’s Digital India plan.
- This campaign would encourage common people to save and invest money while also promoting secure digital financial transactions
ii.This drive seeks to motivate ordinary citizens to save, invest, and engage in secure digital financial transactions, fostering both financial and digital literacy.
iii.By utilizing the advantages of Information & Communications Technology (ICT), this initiative aims to seamlessly integrate technology into rural dwellers’ daily routines, particularly enhancing healthcare, income opportunities, and education.
iv.Village Level Entrepreneurs (VLEs) from CSC will play a pivotal role in administering this campaign, aiming to train approximately 50,000 individuals per year through each van.
Bandhan Bank & Odisha Govt Partnered to facilitate OTDC payment solutions
On 7th August 2023, Kolkata (West Bengal) based-Bandhan Bank Limited, partnered with the Government of Odisha, to support the payment solutions for the Odisha Tourism Development Corporation (OTDC) Ltd.
- The Bank has introduced Point of Sale (PoS) machines, which offers a seamless card payment experience and are placed in prime locations across popular tourist destinations in Odisha including Puri, Bhubaneshwar, Konark, Chilka, and Gopalpur.
- Bandhan Bank will be providing the machines to OTDC and these PoS machines provide easy and quick payment solutions to tourists, thus bringing convenience, both for the tourists and OTDC officials.
- The Electronic Data Capture (EDC) machines will also help prevent revenue loss for OTDC, due to the lack of cash carried by the tourists. This initiative is also aligned with India’s vision of a ‘Cashless Economy’.
- Bandhan Bank Limited, incorporated on 23rd December 2014, is an associate of Bandhan Financial Holdings Limited (BFHL) which is a wholly-owned subsidiary of Bandhan Financial Services Limited (BFSL).
In 2015, It became the first-ever microfinance institution to become a universal bank in India.
Apraava Energy signed MoUs with REC, and PFC to get Rs 9,120 cr Finance for its Various Projects
Apraava Energy Private Ltd, Mumbai(Maharashtra) based integrated energy solution provider, signed a Memoranda of Understanding (MoUs) with REC Ltd (Formerly Rural Electrification Corporation Limited) and Power Finance Corporation Ltd (PFC), to get finance of Rs 9,120 crore for funding its wind, transmission, and advanced metering projects in India.
- REC Ltd is a Navratna Public Sector Undertaking(PSU) under the Ministry of Power and PFC is a Maharatna PSU under the Ministry of Power.
- This collaboration strengthens the strategic roadmap of Apraava Energy for sustainable and integrated growth in the future.
- The signing of MoUs occurred during the Green Finance Summit hosted by REC. This event was held on 21st July 2023, in Goa, coinciding with the Green Business Summit Clean Energy Ministerial (CEM) and Energy Transition Working Group (ETWG) Ministerial and aligning with India’s G20 Presidency.
- Apraava has gradually diversified into newer areas of the energy value chain such as transmission and advanced metering that will support the acceleration of the transition to a greener economy in India.
Note: Apraava Energy is jointly owned by the CLP Group one of the largest investor-owned power businesses in Asia-Pacific and Caisse de dpt et placement du Qubec (CDPQ) a global investment group.
Sashidhar Jagdishan of HDFC Bank Becomes Highest-Paid Bank CEO in FY23
HDFC Bank’s Sashidhar Jagdishan emerged as the highest-paid bank Chief Executive Officer (CEO) in the financial year 2022-2023(FY23) with over Rs 10.55 crore in total pay.
i.Kaizad Bharucha, deputy managing director, HDFC Bank, drew Rs 10 crore for FY23 and is likely to be the second-highest-grossing banker in India
ii.Among bank CEOs, Amitabh Chaudhry, the CEO of Axis Bank, received a payout of Rs 9.75 crore in FY23 making it the second-highest in terms of overall pay among bank chief executives.
iii.Sandeep Bakhshi ,CEO of ICICI Bank got paid Rs 9.60 crore for the fiscal year.
Note: The details were made public in disclosures made in annual reports.
Indian Ecologist Raman Sukumar Elected as Vice-Chair of Working Group II of IPCC Indian Ecologist, Scientist and Asian elephant expert Raman Sukumar has been elected as Vice Chair of Working Group II (WGII) of the Intergovernmental Panel on Climate Change (IPCC) bureau for the 7th Assessment Report (AR7) cycle.
- The elections for the new IPCC Bureau were held during the 59th Session of the IPCC held at the United Nations Environment Programme (UNEP) headquarters in Nairobi, Kenya, from 25th-28th July 2023.
- The panel elected the new IPCC Bureau comprising 34 members, including the new IPCC Chair James Ferguson ‘Jim’ Skea of the United Kingdom(UK) and 3 Vice-Chairs.
- The panel also elected the 12 members of the Task Force Bureau on National Greenhouse Gas Inventories (TFI).
About IPCC WGII:
i.The IPCC WGII assesses the impacts of climate change, from a world-wide to a regional view of ecosystems and biodiversity, and of humans and their diverse societies, cultures and settlements.
ii.WGII is led by two Co-Chairs and eight Vice-Chairs which form the WGII Bureau.
iii.WGII is supported by a Technical Support Unit (TSU) located in Bremen, Germany, and Durban, South Africa.
About Raman Sukumar:
i.Raman Sukumar, hailing from Chennai, Tamil Nadu, is best known for his work on the behavior of Asian elephants and how their presence has affected both human and natural environments.
ii.In 1993, he became a member of the Project Elephant Steering Committee, which provided technical support and advice on matters of elephant conservation to the Indian government.
iii.Sukumar chaired the Asian Elephant Specialist Group of the World Conservation Union from 1997 to 2004.
iv.He also served as director of the Asian Elephant Research and Conservation Centre, a special division of the Asian Nature Conservation Foundation, an independent organization that he had helped to establish in 1997.
Publications: Elephant Days and Nights: Ten Years with the Indian Elephant (1994), The Living Elephants: Evolutionary Ecology, Behavior and Conservation (2003), and The Story of Asia’s Elephants (2011).
Awards: Presidential Award of the Chicago Zoological Society in 1989, the Order of the Golden Ark in 1997, the Whitley Gold Award in 2003 and the International Cosmos Prize in 2006.
Sukumar & IPCC:
He has also contributed since the early 1990s to the work of IPCC in various capacities including Coordinating Lead Author (IPCC special report on Land use, land use change and forestry (LULUCF)), Lead Author (AR2, AR6 and special report on land and climate) and Review editor (AR4).
i.The IPCC is the United Nations(UN) body for assessing the science related to climate change.
ii.It was established by the UNEP and the World Meteorological Organization (WMO).
3 working groups:
- Working Group I, deals with the physical science basis of climate change;
- Working Group II, deals with impacts, adaptation and vulnerability; and
- Working Group III, deals with the mitigation of climate change.
It also has a TFI that develops methodologies for measuring emissions and removals.
About Intergovernmental Panel on Climate Change(IPCC):
Chairman- Jim Skea
Headquarters- Geneva, Switzerland
Members- 195 member states
Niger Military Junta Appoints Ali Mahaman Lamine Zeine as Transitional PM of NigerOn 7th August 2023, the Military Junta of the Republic of Niger appointed Ali Mahaman Lamine Zeine, an economist and former Minister of finance of Niger Republic, as a transitional Prime Minister (PM) of Niger, according to a decree by General Abdourahmane Tchiani, who is the self-declared Head of State of the Transitional Government of Niger.
- The appointment comes nearly 2 weeks after the military coup dismissed President Mohamed Bazoum, who was democratically elected in 2021.
- Ali Mahaman Lamine Zeine is the current Country Manager of the African Development Bank (AfDB) in Chad (Africa).
- Abdourahmane Tchiani, who also assumed head of the National Council for the Safeguard of the Homeland (CNSP) in Niger.
- He is the former Commander of Niger’s presidential guard, who dismissed President Mohamed Bazoum and suspended the constitution on July 26, 2023.
About Ali Mahaman Lamine Zeine:
i.From 2001 to 2010, he served as Cabinet Director and Finance Minister in the cabinet of President Mamadou Tandja, who led the country from 1999 to 2010 and was overthrown in 2010 by Major Salou Djibo.
ii.He also served as the AfDB’s Country Manager in Côte d’Ivoire (also known as Ivory Coast) and Gabon of Africa.
i.The junta also appointed Amadou Didilli as the head of Niger’s High Authority for Peace Consolidation (HACP).
ii.Abou Tague Mahamadou appointed as the inspector-general of the army and the national gendarmerie.
iii.Ibro Amadou Bachirou was appointed as the private chief of staff of the junta leader.
iv.Lieutenant-Colonel Habibou Assoumane was named the Commander of the Presidential Guard.
- These appointments follow closely after the Economic Community of West African States (ECOWAS) issued an ultimatum to the ruling military, demanding the reinstatement of President Mohamed Bazoum.
Prime Minister (interim)- Ali Mahaman Lamine Zeine
Currency– West African CFA franc, XOF
CCI approves merger of TCCL and TCFSL into TCL; Clears proposed acquisition of HDFC Credila Financial Servicesi.On August 8, 2023, the Competition Commission of India (CCI) approves merger of Tata Cleantech Capital Limited (TCCL) and Tata Capital Financial Services Limited (TCFSL) into Tata Capital Limited (TCL).
ii.CCI also approved the combination involving the acquisition of 90% of the shareholding of HDFC Credila Financial Services Limited (HDFC Credila) by Kopvoorn B.V., Moss Investments Limited, Infinity Partners and Defati Investments Holding B.V.
iii.Kopvoorn B.V., owned by BPEA Private Equity Fund VIII managed by EQT AB, is the Netherlands incorporated company, part of the global EQT investment group.
About Competition Commission of India (CCI):
Chairperson– Ravneet Kaur
Headquarter– New Delhi, Delhi
FISU World University Games 2023: India finishes with 26 MedalsIndia finished 7th with 26 medals (11 gold, 5 silver and 10 bronze) at 31st edition of the Fédération Internationale du Sport Universitaire (FISU) World University Games 2023 held in Chengdu, Sichuan province, China, from 28th July to 8th August 2023.
- China finished 1st in the medal tally with 178 medals(103 gold, 40silver and 35bronze).
- Jyothi Yarraji won the bronze medal in the women’s 100m hurdles and set a new national record with a timing of 12.78 seconds in the women’s-only 100m hurdles.
- Yamini Mourya won the bronze medal in Judo in women’s 57kg.
About Fédération Internationale du Sport Universitaire(FISU):
Acting President – Leonz Eder
Headquarters – Lausanne, Switzerland
Established – 1949
International Day of the World’s Indigenous Peoples 2023 – August 9 The United Nations (UN)’s International Day of the World’s Indigenous Peoples (IDWIP) is annually observed on 9th August across the world to promote and protect the rights of the world’s Indigenous population and to raise awareness of the need to improve the economic, social, and cultural situation of the indigenous people.
This day is also known as World Tribal Day or World Indigenous Peoples Day.
The 2023 theme of IDWIP is “Indigenous Youth as Agents of Change for Self-determination” with the sub-themes: Climate Action and the Green Transition; Mobilizing for Justice and Intergenerational Connections.
i.In 1994, the United Nations General Assembly (UNGA) adopted the resolution resolution 49/214 titled International Decade of the World’s Indigenous People (1994-2004) and proclaimed the 9th August of every year during the decade as International Day of the World’s Indigenous People.
ii.The first-ever International Day of the World’s Indigenous Peoples was observed on 9th August 1995.
The United Nations Development Programme (UNDP) and its partners announced the winners of the 14th Equator Prize, on the occasion of the International Day of World’s Indigenous Peoples, recognizing 10 Indigenous peoples and local communities from 10 Countries namely Bolivia, Brazil, Burundi, Ecuador, Guatemala, Greenland, Liberia, Nepal, the Philippines, and Zambia.
About United Nations Development Programme (UNDP):
Administrator– Achim Steiner
Headquarters– New York, the United States of America (USA)
Established in– 1965
Nagasaki Day 2023- 9th August Nagasaki Day is annually observed across the globe on the 9th of August to create awareness about the hazards of nuclear weapons and to promote peace among nations.
- 9th August 2023 marks the 78th anniversary of Nagasaki Day.
i.On 9th August 1945, the American USAAF B-29 airplane named “Bockscar”, piloted by United States (US) Army Air Force Major Charles W. Sweeney, dropped the plutonium implosion-type bomb, code name “Fat Man” the 2nd atom bomb on Japan’s Nagasaki.
- Nagasaki was an industrial center and major port on the western coast of Kyushu.
- Survivors of the bombing, known as “Hibakusha“
Prime Minister (PM)- Kishida Fumio
Currency- Japanese Yen
National Javelin Day 2023 – 7th August National Javelin Day is celebrated annually across India on 7th August to commemorate Neeraj Chopra’s 2020 Tokyo Olympic gold medal and also to promote the Javelin at the grassroot level by the Athletics Federation of India (AFI) the apex body for athletics in India.
- 7th August 2023 is observed as 2nd anniversary of Javelin Throw Day where Javelin competitions were held in Gujarat, Assam, Haryana and Delhi, among others.
- The 1st National Javelin Day was celebrated on 7th August 2022.