Today's Current Affairs 21st August 2023

NATIONAL

President Droupadi Murmu gives assent to Central Goods and Services Tax (Amendment) Bill and Integrated Goods and Services Tax (Amendment) Bill

• President Droupadi Murmu has officially granted her assent to two crucial pieces of legislation, namely the Central Goods and Services Tax (Amendment) Bill, 2023, and the Integrated Goods and Services Tax (Amendment) Bill, 2023. Both of these bills, which had recently received approval from the Parliament, have now become law with the President’s endorsement.
• The Central Goods and Services Tax (Amendment) Bill, 2023, is designed to introduce amendments to the existing Central Goods and Services Tax Act of 2017. This bill encompasses adjustments to key definitions and provisions to better align with evolving technological and economic landscapes.
• Defining Online Gaming and Virtual Digital Assets: The bill adds definitions for crucial terms such as “online gaming,” “online money gaming,” and “virtual digital assets.” It clarifies that online gaming refers to the offering of games over the internet or electronic networks, encompassing money gaming as well.

President launched 'My Bengal, Addiction Free Bengal'

• At an occasion held at the Raj Bhavan, President Droupadi Murmu launched the ‘My Bengal, Addiction-Free Bengal‘ campaign, a vital undertaking organised by the Brahma Kumaris, aimed at tackling the prevalent issue of drug usage among the youth.
• Acknowledging the joint endeavors of both the central and state governments in confronting this concern, the president underscored the pressing need to urgently discover viable solutions to eradicate this threat from society.
• President Droupadi Murmu outlined a multi-faceted approach to tackling the issue of drug abuse, advocating for solutions that involve spiritual awakening, medical intervention, social unity, and determined political will. She emphasized that addiction often stems from mental stress and peer pressure, resulting in harmful consequences for both the individuals involved and their families. She also applauded organizations such as the Brahma Kumaris for engaging in discussions around these critical matters and actively working to find resolutions.

The Matti banana variety native to Kanniyakumari district has been granted a Geographical Indication (GI) tag.

• The Matti banana variety native to Kanniyakumari district has been granted a Geographical Indication (GI) tag. These bananas thrive uniquely in the district’s climate and soil, resulting in a larger-than-human finger-sized fruit with a sweet aroma and honey-like taste.

Distinctive Attributes:

1. Size and Taste: Matti bananas are slightly larger-than-human finger-sized fruits with a sweet fragrance and honey-like taste that remains unmatched outside their native region.
2. Variety Diversity: There are six distinct types of Matti bananas, each boasting unique qualities in terms of color, aroma, and flav

 SPORTS

U-20 Wrestling World Championships 2023: Priya Malik wins gold, only second Indian to become junior world champion

• Indian wrestler Priya Malik has achieved a remarkable feat by securing the gold medal at the U20 World Wrestling Championships held in Jordan. This victory marks a significant milestone in her career.
• Competing in the 76 kg category, Priya Malik showcased her prowess on the mat. In the gold medal match, she triumphed over Germany’s Laura Kuehn with a resounding score of 5-0.
• Priya Malik’s victory makes her only the second Indian woman to attain a gold medal in the prestigious U20 World Wrestling Championships. She joins the ranks of Antim Panghal, another Indian wrestler who had previously secured a gold medal in the same competition.
• Priya’s success is not only a personal triumph but also a contribution to India’s outstanding performance at the U20 World Wrestling Championships, supported by the Target Olympic Podium Scheme (TOPS).

 India’s Anahat Singh clinches gold in Asian Junior Squash

• Anahat Singh secured the gold medal in the U-17 category of the prestigious Asian Junior Squash Individual Championships, a remarkable achievement that adds another jewel to her growing crown of accomplishments. The championship, held from August 16 to 20, showcased Anahat’s exceptional talent and determination as she emerged victorious on the court.
• The 15-year-old prodigy from India exhibited her prowess by defeating Hong Kong’s Ena Kwong with a resounding 3-1 victory in the finals. In the quarterfinals and semifinals, she showcased her skill and determination by overcoming Malaysian players Doyce Lee and Whitney Isabelle Wilson, respectively.
• Last year, Anahat made her mark in the Asian Junior Squash Individual Championships held in Thailand, where she secured her first gold medal in this prestigious event.

 OBITURY

Dr John Warnock, Adobe Co-Founder, dies At 82

• Adobe co-founder Dr. John Warnock passed away at the age of 82, Adobe announces. He founded the revolutionary software company Adobe with his partner, the now-late Dr. Charles Geschke, in 1982. Marva Warnock designed the company’s original logo, and Adobe released its first program, the desktop publishing software Adobe PostScript, two years later. Warnock served mostly as the company’s CEO until 2000 and was co-chairman of the board along with Geschke until 2017. Warnock remained on the company board of directors afterward.
• Adobe is widely-associated with Adobe Acrobat and Adobe Photoshop, but the company has maintained an impressively broad portfolio of well-regarded staple applications in multiple industries. During Warnock’s tenure as its CEO, Adobe created industry-standard software for business, graphic design, photography, video editing, audio recording, and more. Warnock co-founded Adobe in 1982. He retired as CEO in 2000 and was chairman of the board, a position he shared with Geschke, until 2017.

 APPOINTMENS & RESIGNATIONS

Rahul Dravid becomes new Bharat Petroleum brand ambassador

• Bharat Petroleum Corporation Ltd. (BPCL) has announced cricketer Rahul Dravid as its new brand ambassador. He will endorse BPCL’s Pure for Sure initiative and range of MAK lubricants. This exciting partnership highlights Bharat Petroleum’s strong dedication to quality, authenticity, and excellence. Rahul Dravid embodies exceptional sportsmanship, serves as a role model, and possesses qualities such as integrity, dependability, and trustworthiness that align perfectly with our values at BPCL. Rahul Dravid will endorse BPCL’s well-known Pure for Sure initiative and their range of MAK lubricants.
• As an icon who elevated Indian cricket to new heights, Rahul truly represents our values of trust, ethics, service, and consistency. His association with BPCL will further emphasize our commitment to delivering quality products consumers can rely on throughout the country.

 IMPORTANT DAYS

International Day of Remembrance and Tribute to the Victims of Terrorism 2023:21st August

• The International Day of Remembrance and Tribute to the Victims of Terrorism is observed annually on August 21. This is the sixth commemoration of the International Day of Remembrance of and Tribute to the Victims of Terrorism, on 21 August 2023.
• The International Day of Remembrance and Tribute to the Victims of Terrorism was established by the United Nations General Assembly in its resolution 72/165 of 20 December 2017. The resolution was adopted by consensus, reflecting the strong international commitment to combating terrorism and supporting its victims.
• The day was chosen to commemorate the bombing of the United Nations headquarters in Baghdad, Iraq, on August 21, 2003, which killed 22 people, including Sergio Vieira de Mello, the United Nations High Commissioner for Human Rights.
• The International Day of Remembrance and Tribute to the Victims of Terrorism is a day to remember and honor the victims and survivors of terrorism. It is also a day to reaffirm the international community’s commitment to combating terrorism and to promoting and protecting the human rights and fundamental freedoms of all people.

 AWARDS & RECOGNITION

Ratan Tata conferred Maharashtra's first Udyog Ratna award

• Eminent industrialist Ratan Tata was conferred with the first ever ‘Udyog Ratna’ award instituted by the Maharashtra government. The award was presented to the 85-year-old chairman emeritus of Tata Sons by Chief Minister Eknath Shinde and Deputy Cheif Ministers Devendra Fadnavis and Ajit Pawar at the industrialist’s home in Colaba in south Mumbai.
• The contribution of the Tata group in all sectors is immense. The steel-to-salt group operates in more than 100 countries across six continents. In 2021-22, the collective revenue of Tata companies stood at $128 billion. The honour comprised a shawl, a citation and a memento from the Maharashtra Industrial Development Corporation (MIDC). The award comprises a shawl, a citation, and a memento. It is presented by the Chief Minister of Maharashtra.

 BANKING AND ECONOMY

RBI allows IDF-NBFCs to raise money via external commercial borrowings

• The Reserve Bank of India (RBI) has recently introduced updated guidelines for Infrastructure Debt Fund-Non-Banking Financial Companies (IDF-NBFCs). These revisions aim to enhance the role of IDF-NBFCs in financing the infrastructure sector and to align the regulations governing infrastructure sector financing by Non-Banking Financial Companies (NBFCs). The review of these guidelines has been carried out in collaboration with the Government of India.

Enhanced Capital Requirements

1. Net Owned Fund (NOF) Requirement: Under the new guidelines, IDF-NBFCs are mandated to maintain a minimum Net Owned Fund (NOF) of Rs 300 crore. This measure ensures that these entities possess adequate financial strength to engage significantly in infrastructure financing.
2. Capital Adequacy (CRAR): The revised norms stipulate a Capital-to-Risk Weighted Assets Ratio (CRAR) of at least 15%, with a minimum Tier 1 capital of 10%. This capital adequacy requirement safeguards the financial stability of IDF-NBFCs as they channel funds into infrastructure projects.