Today's Current Affairs 18th September 2023

NATIONAL

Assam Governor launches 'Sarpanch Samvad' app

• In a significant step towards empowering grassroots leaders, Assam Governor Gulab Chand Kataria unveiled the ‘Sarpanch Samvad‘ app in a grand launch ceremony held at the Raj Bhavan. This groundbreaking initiative is set to revolutionize the way Sarpanchs, who are village headmen, communicate, collaborate, and access vital resources. The event witnessed the participation of more than 30 Sarpanchs from various corners of the country, signifying the app’s importance in fostering community development.
• The ‘Sarpanch Samvad’ app has been meticulously developed by the Quality Council of India (QCI). QCI, as the apex organization responsible for establishing and operating the third-party national accreditation system, plays a vital role in improving quality across various sectors and advising the government and stakeholders on quality-related matters.
• At present, the application offers support for seven languages, including English, Hindi, Punjabi, Gujarati, Marathi, Kannada, and Telugu. 

SPORTS

Maharashtra: Shinde govt issues notification on name change of Aurangabad, Osmanabad districts

• The Maharashtra government has issued an official notification regarding the renaming of Aurangabad and Osmanabad districts to Chhatrapati Sambhajinagar and Dharashiv, respectively. Following a period during which suggestions and objections were sought several months ago, the decision to change these names at various levels, including sub-division, village, taluka, and district, has been finalized. This notification has been issued by the Revenue Department of the state.
• The decision to rename ‘Aurangabad’ and ‘Osmanabad’ to ‘Chhatrapati Sambhajinagar’ and ‘Dharashiv,’ respectively, was initially made during the last cabinet meeting of the previous Maha Vikas Aghadi (MVA) government. This decision, taken on June 29, 2022, was chaired by the then Chief Minister Uddhav Thackeray, just before he resigned from office following a rebellion led by Eknath Shinde.

Diamond League 2023 Final: Neeraj Chopra finishes second in javelin throw, Jakub Vadlejch takes the title

• Neeraj Chopra, India’s star javelin thrower and the reigning World champion, displayed his skill and resolve at the Diamond League finals in Eugene. His best throw of 83.80 meters secured him the second position in this prestigious competition, where he engaged in a remarkable battle against formidable opponents.
• Neeraj Chopra had previously clinched the Diamond League crown in 2022, making a remarkable best attempt of 88.44 meters. His remarkable journey in the field of javelin throwing had already garnered attention worldwide, and he was poised to continue his impressive streak in the 2023 edition of the competition.
• Chopra experienced a setback during his first attempt when he faced a “no throw.” On his second try, Chopra made a significant comeback, landing the javelin at an impressive distance of 83.80 meters. This throw put him back in contention and served as a testament to his resilience and skill. 

Ferrari’s Carlos Sainz won a thrilling Singapore Grand Prix

• Ferrari’s Carlos Sainz won the Singapore Grand Prix to end Formula 1 leader Max Verstappen’s record run of 10 wins in a row and shatter Red Bull’s dream of going through the season unbeaten. McLaren’s Lando Norris finished a close second and Mercedes’ Lewis Hamilton took third place as Red Bull ended up off the podium for the first time since last November’s Brazilian Grand Prix.
• The 2023 Formula 1 Singapore Grand Prix drew a more-than-expected 264,108 spectators over the race weekend. Last year, the event attracted a record 302,000 spectators, surpassing the 268,000 figure for the 2019 edition. The Singapore Grand Prix was cancelled in 2020 and 2021 due to the COVID-19 pandemic. 

IMPORTANT DAYS

World Bamboo Day 2023: 18^th September

• World Bamboo Day, observed annually on September 18, is a global initiative that sheds light on the incredible significance of bamboo. This remarkable plant, often referred to as “green gold,” holds immense potential in sustainable development, poverty alleviation, environmental conservation, and cultural preservation. World Bamboo Day serves as a platform to raise awareness about the myriad benefits of bamboo and its role in addressing pressing global challenges.
• Bamboo, a rapidly growing type of grass, is renowned for its exceptional qualities, including strength, flexibility, and eco-friendliness. This day celebrates the incredible versatility and sustainability of bamboo as a valuable resource.
• World Bamboo Day owes its existence to the dedicated efforts of the World Bamboo Organization (WBO), a non-profit organization established in 2005 by Susanne Lucas and David Knights. Their vision was to promote bamboo as a versatile and valuable resource with the potential to transform industries and livelihoods.

International Equal Pay Day 2023: 18^th September

• International Equal Pay Day, celebrated on 18 September, is a significant global observance that highlights the ongoing struggle for equal pay for work of equal value. This day underscores the commitment of the United Nations to uphold human rights and combat all forms of discrimination, particularly discrimination against women and girls. One pressing issue it addresses is the gender pay gap, which continues to persist in various parts of the world.
• The gender pay gap is a stark representation of inequality. It quantifies the difference between the average earnings of men and women, typically expressed as a percentage of men’s earnings. In 2023, women in the United States, for instance, earn an average of 82 cents for every dollar earned by men. This glaring gap means that women have to work more than 15 months to earn what men do in just 12 months.

 SUMMITS AND MOU’S

India shares unique relationship with UNCITRAL 2023

• India recently played host to the inaugural United Nations Commission on International Trade Law (UNCITRAL) South Asia conference, held from September 14 to 16. This significant event was jointly organized by the Ministry of External Affairs, UNCITRAL, and the organization’s national coordination committee for India.
• The conference saw the presence of notable dignitaries, including Minister of State for External Affairs, Rajkumar Ranjan Singh, Chief Justice of India, DY Chandrachud, and Attorney General R Venkataramani, among others.
• This three-day conference marked a continuation of a significant event held in New Delhi in 2016, which celebrated 50 years of UNCITRAL’s existence.
• The primary goal of the conference was to foster closer ties between India and UNCITRAL while encouraging active interaction among UNCITRAL, the judiciary, the bureaucracy, academia, and the legal fraternity. 

AWARDS AND RECOGNITION

Fashion designer Rahul Mishra awarded Chevalier de l'Ordre des Arts et des Lettres

• Rahul Mishra, the visionary Indian designer was honored with the Chevalier de l’Ordre des Arts et des Lettres (Knight of the Order of Arts and Letters) by the French government, joining a distinguished list of fellow countrymen and women including Ritu Kumar, Ritu Beri, Wendell Rodricks, and Manish Arora who have previously received this award.
• Rahul Mishra’s journey through the world of fashion has been guided by a strong commitment to ethical and sustainable practices. His creations not only captivate the eye but also inspire change by highlighting the highest standards and craft of local artisans in India. Mishra’s designs are an exquisite blend of traditional Indian hand-woven textiles and intricate embroidery techniques, showcasing the country’s rich heritage and culture. Through his work, he has become a staunch advocate for ethical and sustainable fashion, setting a remarkable example for the global fashion industry. 

BANKING AND ECONOMY

Indian Bank rolls out 'IB SAATHI' to enhance banking services

• Indian Bank has introduced a new initiative called ‘IB SAATHI’ (Sustainable Access and Aligning Technology for Holistic Inclusion) to bolster its financial inclusion efforts. The primary goal of IB SAATHI is to provide essential banking services to various stakeholders through the business correspondent (BC) channel.
• Under this revamped model, Indian Bank is committed to offering basic banking services at all its centers for a minimum of four hours each day through fixed outlets. This initiative is a significant step towards ensuring widespread access to banking services.
• In addition to the fixed outlets, BC agents will also extend their services directly to the doorstep of customers. This move aims to make financial services more accessible, convenient, and inclusive, especially for those in remote or underserved areas.

Digital rupee in circulation at Rs 16.39 cr in 2022-23 shows RBI data

• The Reserve Bank of India (RBI) has disclosed that as of March 2023, the circulation of the E-rupee, India’s Central Bank Digital Currency (CBDC), has reached ₹16.39 crore. This digital currency, which mirrors the country’s physical legal tender, comes in different denominations and serves both wholesale and retail purposes.

Total E-rupee circulation: ₹16.39 crore.

Wholesale CBDC (e₹-W): ₹10.69 crore.

Retail CBDC (e₹-R): ₹5.70 crore.

The highest circulation is in ₹500 CBDC notes, amounting to ₹2.71 crore.

₹200 notes follow with a circulation of 1.16%.

Denominations range from 50 paise to ₹100.

Circulation for these denominations falls between 0.01% to 0.83%.

Sidbi to raise Rs.10000 crore from rights issue next fiscal

• Small Industries Development Bank of India (SIDBI), a key player in SME loan refinancing, has unveiled plans to raise Rs.10,000 crore through a rights issue in the upcoming fiscal year. This strategic move is aimed at bolstering its equity capital as the institution anticipates an expansion of its assets, targeting Rs.5 lakh crore by March 2024 from its current standing at approximately Rs.4 lakh crore as of March 2023.
• SIDBI’s growth outlook is primarily driven by the surging demand for direct financing, a segment that has grown significantly over the past two years, now constituting 14% of its loan portfolio compared to a mere 7% previously.
• The ownership landscape of SIDBI includes the central government with a 20.8% stake, the State Bank of India holding 15.65%, and Life Insurance Corporation at 13.33%. The remaining equity is distributed among various public financial institutions and banks. It is expected that these stakeholders will subscribe to the proposed rights issue.