Today's Current Affairs 11th August 2023

INTERNATIONAL

Cambodia's parliament to have woman as president for first time

• In a move towards gender inclusivity and leadership diversity, Khuon Sudary is set to assume the esteemed role of President of the National Assembly of Cambodia.\
• Currently serving as the second Vice-President of the National Assembly and a prominent member of the Standing Committee of the Cambodian People’s Party (CPP), Khuon Sudary’s ascent to the presidency reflects her years of dedication and service to her nation.
• The announcement was made by Prime Minister Samdech Techo Hun Sen, emphasizing the commitment to empowering women in pivotal roles within the government.

NATIONAL

Government forms new panel to review all NSO data

• In a recent development, the Ministry of Statistics and Programme Implementation (MoSPI) of the Government of India has taken a significant step by replacing the existing Standing Committee on Economic Statistics (SCES) with a more comprehensive entity called the Standing Committee on Statistics (SCoS).
• This new committee has been entrusted with a broader mandate, involving the review of both the framework and outcomes of all surveys conducted under the National Statistical Office (NSO).

Keralam, Not Kerala: Assembly Approves Unanimous Resolution To Change State Name

• In a significant move aimed at embracing its cultural and linguistic heritage, the Kerala Legislative Assembly has passed a resolution requesting the Central government to change the name of the state from ‘Kerala’ to ‘Keralam‘.
• The term ‘Keralam’ traces its roots to the fusion of two Malayalam words – “Kera,” symbolizing coconut, and “Alam” denoting land. Thus, ‘Keralam’ intricately encase the essence of the “Land of Coconut Trees” paying homage to the state’s prolific coconut cultivation, a pivotal contributor amounting to about 45% of India’s overall coconut harvest.
• The proposal involves a modification of the current nomenclature to ‘Keralam,’ a change that is sought to be instituted through the provisions of Article 3 of the Constitution. This alteration would encompass the adoption of ‘Keralam’ as the state’s official name across all languages listed in the Eighth Schedule of the Constitution.

CJI Chandrachud launched QR code-based ePass for entry at SC

• In a proactive effort to modernize and streamline access to justice, Chief Justice of India (CJI) D.Y Chandrachud unveiled the ‘SuSwagatam‘ portal.
• The ‘SuSwagatam’ portal, along with its user-friendly mobile application, empowers litigants and visitors with the convenience of a QR code-enabled ePass. This digital pass not only facilitates a smooth entry experience but also serves as an exit credential, enhancing the overall efficiency of access management.
• Ensuring the highest standards of security, ‘SuSwagatam’ offers role-based secure logins for different categories of users. During the registration process, individuals have the option to upload proof of identity and even capture a live photograph, further enhancing the validation process.

Gujarat CM Launches Mobile App That Will Help Forest Dept Track Movement Of Lions

• To celebrate World Lion Day, Chief Minister Bhupendra Patel of Gujarat introduced a new mobile application called ‘Sinh Suchna’.
• The launch event, held in Gandhinagar, Gujarat, signifies a significant step towards modern wildlife conservation, enabling both the state’s forest department and the general public to effectively monitor lion movements.
• The ‘Sinh Suchna’ app empowers individuals to directly report lion sightings to the forest department. This innovative approach facilitates real-time tracking and swift conflict resolution.

APPOINTMENTS & RESIGNATIONS

Pluckk signs on Kareena Kapoor Khan as investor, brand ambassador

• Bollywood actress Kareena Kapoor Khan has signed on as an investor and brand ambassador of Pluckk, which is engaged in the fresh fruit and vegetables business.
• The company has a range of 400 products in more than 15 categories, including essentials, exotics, hydroponics, and cuts and mixes. The range includes innovative do-it-yourself (DIY) meal kits crafted within certified food-tech facilities. Pluckk has also introduced ozone-washed products and traceability concepts.
• Founded in July 2021, Pluckk has rapidly emerged as a digital leader in the lifestyle-oriented fresh produce market. Co-founded by Pratik Gupta and backed by seed funding from Exponentia Ventures, the brand currently operates in Bengaluru and Mumbai.

BANKING AND ECONOMY

Sebi changes IPO rules, listing timeline reduced to T+3 days

• The Securities and Exchange Board of India (SEBI) has taken a significant step to enhance the efficiency of Initial Public Offerings (IPOs) by halving the timeline for listing shares on stock exchanges after the IPO closure.
• This move aims to provide substantial benefits to both investors and issuers in the capital markets.SEBI’s new directive entails a reduced listing timeline for shares.
• This adjustment, designed to expedite the listing process, will initially be introduced as a voluntary option for public issues commencing on or after September 1. However, it will become a mandatory requirement for all issues starting from December 1, 2023, onwards, as per the circular issued by the capital markets regulator.

India's first bank to provide 24x7 video banking service

• AU Small Finance Bank, the largest small finance bank in India, has taken a remarkable step forward in customer service with the launch of their innovative 24×7 video banking platform.
• This pioneering service enables customers to engage in face-to-face video interactions with expert bankers, akin to video calls. This move redefines convenience, as it provides round-the-clock support, even during weekends and holidays.
• AU’s 24×7 Video Banking transcends the limitations of physical infrastructure, bridging gaps in service provision. The platform is particularly beneficial to regions with limited resources, extending vital banking services to previously underserved areas.

RBI imposes monetary penalty on 4 co-operative banks

• The Reserve Bank of India (RBI) has taken stringent action by imposing monetary penalties totaling Rs4.20 lakh on four co-operative banks.
• These banks – Vita Urban Cooperative Bank Ltd, Shri Vinayak Sahakari Bank Ltd, Shreeji Bhatia Cooperative Bank Ltd, and Mizoram Urban Cooperative Development Bank Ltd – have been found to be in breach of various regulations set forth by the central banking authority.
• The RBI, after carefully considering the responses and oral arguments presented by the banks during personal hearings, concluded that the charges of non-compliance with its directives were substantiated. Consequently, the monetary penalties were imposed as a consequence of these regulatory violations.

RBI proposes AI-powered 'Conversational Payments' via UPI

• The Reserve Bank of India (RBI) has recently unveiled a trio of groundbreaking initiatives poised to revolutionize the digital payments landscape in India through the Unified Payments Interface (UPI) and UPI Lite.
• This innovative feature empowers users to engage in transactions by conversing with an AI-powered system, ensuring safety and security throughout the process.
• Acknowledging the evolving needs of users, the RBI has raised the transaction limit for UPI Lite from Rs 200 to Rs 500, aiming to facilitate more substantial and convenient transactions. In a move to bolster the adoption of UPI Lite, the RBI is introducing offline payments using Near Field Communication (NFC) technology.