Today's Current Affairs 23rd August 2023

INTERNATIONAL

Srettha Thavisin elected Thailand PM as Thaksin returns from exile

• Thai property tycoon Srettha Thavisin has been elected as the new prime minister of Thailand following a decisive win in a parliamentary vote. The 60-year-old Thavisin’s victory in the parliamentary vote, with the support of two-thirds of the assembly, ends weeks of political uncertainty that followed an election held 100 days ago.
• Srettha Thavisin after completing his studies in 1986, embarked on his professional path, assuming the role of an assistant product manager at Procter & Gamble. This initial chapter of his career spanned a duration of four years, during which he gained valuable insights and experience. However, it was in the year 1988 that he embarked on a transformative journey, co-founding Sansiri. This enterprise would go on to establish itself as one of Thailand’s foremost real estate development companies, leaving an indelible mark on the industry.
• Srettha Thavisin’s election as prime minister ushers in a new era of coalition politics. He faces the challenging task of holding together a potentially fragile coalition government, which includes parties affiliated with the royalist military. The military, notorious for orchestrating coups in 2006 and 2014 that toppled Pheu Thai (a major Thai political party) governments, holds a significant stake in this coalition. Thavisin’s ability to navigate the intricacies of this coalition will play a pivotal role in determining the stability and direction of Thailand’s government.

 NATIONAL

Bharat NCAP: New vehicle safety norms set for launch

• The Bharat New Car Assessment Programme (Bharat NCAP) was launched by Union Minister of Road Transport and Highways Shri Nitin Gadkari on August 22, 2023, in New Delhi. The program aims to enhance road safety by elevating vehicle safety standards for up to 3.5-tonne vehicles in India. Bharat NCAP will also greatly push the safety and quality of the vehicles in India, while simultaneously promoting a healthy competition among OEMs to manufacture safer vehicles.

New Car Assessment Programme Details-

• The program is applicable to type approved motor vehicles of M1 category less than 3.5T GVW.
• This is a voluntary program in which the base variants of a given model shall be tested.
• The program will commence from October 1, 2023, and will be based on Automotive Industry Standard (AIS) 197.
• The program aims to create an ecosystem of competitive safety enhancements leading to increased awareness among consumers.
• Consumers can take an informed decision by making a comparative assessment on vehicle performance under crash test conditions.

 India announces definition of Green Hydrogen

• India has announced the definition of Green Hydrogen. The Green Hydrogen Standard for India sets a criterion of 2 kg CO2 equivalent per kg H2 as a 12-month average emission threshold. It is a significant move for the progress of the National Green Hydrogen Mission. The guidelines established by the Ministry of New and Renewable Energy (MNRE), Government of India, delineate the emission benchmarks that must be fulfilled for hydrogen production to qualify as ‘Green’, signifying its origin from renewable sources.
• The Ministry of New & Renewable Energy has characterized Green Hydrogen as having a well-to-gate emission (encompassing processes like water treatment, electrolysis, gas purification, hydrogen drying, and compression) that does not exceed 2 kg CO2 equivalent per kg H2.
• The scope of the definition encompasses both electrolysis-based and biomass-based hydrogen production methods. The notification explicitly states that the Ministry of New & Renewable Energy will define a comprehensive methodology for measuring, reporting, monitoring, on-site verification, and certifying green hydrogen and its derivatives. Bureau of Energy Efficiency (BEE), Ministry of Power shall be the Nodal Authority for accreditation of agencies for the monitoring, verification and certification for Green Hydrogen production projects.

 SPORTS

Khelo India Women’s League to be renamed as Asmita Women’s League

• Anurag Singh Thakur, the Union Minister for Youth Affairs and Sports, has unveiled that the esteemed Khelo India Women’s League will be recognized as the “Asmita Women’s League” from now on. This purposeful transformation underscores the government’s commitment to advancing gender equality and nurturing the vibrant engagement of women in the realm of sports.
• The new name, “Asmita Women’s League,” carries a profound meaning. ASMITA stands for “Achieving Sports Milestone by Inspiring Women Through Action”, encapsulating the spirit of resilience, determination, and achievement that defines women athletes across the nation. This change not only offers a new identity but also embodies the aspirations of countless women who strive to make their mark in the sporting arena.
• Thakur took to social media to commend the entire Khelo India team for their visionary concept of the Asmita Women’s League. He also expressed his appreciation for the development of the Asmita Portal and its new logo, recognizing these advancements as significant steps towards the digital transformation of Indian sports. This demonstrates the government’s commitment to leveraging technology to enhance the overall sports experience and engagement.

 SCIENCE & TEHNOLOGY

India becomes 4th country to successfully land spacecraft on moon

• India successfully landed its Chandrayaan-3 mission on the lunar surface on August 23, 2023, making it the fourth country to do so after the United States, Russia, and China. The lander Vikram touched down on the south pole of the moon, a region that has never been explored before. The rover Pragyan is expected to roll out of the lander and begin its exploration of the lunar surface in the coming days.
• The successful landing of Chandrayaan-3 is a major achievement for India’s space program and a testament to the hard work and dedication of the scientists and engineers who made it possible. It also puts India in a select group of spacefaring nations and furthers its ambition to become a leading player in the global space race.
• The Chandrayaan-3 mission is expected to collect valuable data about the lunar south pole, which is thought to be rich in water ice. This information could be used to support future human exploration of the moon. The mission is also expected to help scientists to better understand the formation and evolution of the moon.

 APPOINTMENS & RESIGNATIONS

Former CJ Of Calcutta High Court Justice Prakash Shrivastava Appointed As Chairperson of National Green Tribunal

• Justice Prakash Shrivastava has been appointed as Chairperson of National Green Tribunal (NGT). After the former Chairperson Justice A.K Goel retired. After the former Chairperson Justice A.K Goel retired in July, Justice Sheo Kumar Singh was appointed as the Acting Chairperson. Justice Srivastav Enrolled as Advocate on February 2, 1987. He Practised on Tax, Civil and Constitutional sides in the Supreme Court of India at New Delhi. He was later appointed as a Judge of the High Court of Madhya Pradesh on January 18, 2008 and became a permanent Judge on January 15, 2010.
• Justice Shrivastava was born on March 31, 1961.In the year 1987, he was enrolled as an advocate and practiced in tax, civil, and constitutional law, at the Supreme Court. Later, he was appointed as an additional judge at the Madhya Pradesh High Court on January 18, 2008 before being made permanent on January 15, 2010. Subsequently, Justice Shrivastava served as the Chief Justice of Calcutta High Court from October 11, 2021 till his retirement on March 30, 2023.

Sachin Tendulkar recognised as 'national icon' of Election Commission of India

• Former Indian cricketer Sachin Tendulkar will become a “national icon” of the Election Commission (EC) and spread awareness regarding the need for greater voter participation in the electoral process. The poll body will sign a Memorandum of Understanding with Mr. Tendulkar in the national capital on Wednesday. It will be a three-year agreement as part of which the cricketing legend will spread voter awareness.
• The EC’s decision to appoint Tendulkar as its national icon is a significant step towards encouraging greater voter participation in India. Tendulkar’s popularity and influence among the youth make him a powerful force for good, and he is sure to make a positive impact on the electoral process.
• This collaboration will mark a significant step towards leveraging Mr. Tendulkar’s unparalleled impact with the youth for increasing voters’ participation in the forthcoming elections, especially in General Elections 2024, the EC said in a statement. Through this partnership, the EC aims to bridge the gap between citizens, especially youth and urban populations, and the electoral process thereby, trying to address the challenges of urban and youth apathy, it said.

 IMPORTANT DAYS

International Day for the Remembrance of the Slave Trade and its Abolition 23rd August 2023

• International Day for the Remembrance of the Slave Trade and its Abolition is observed on August 23. It commemorates the day when an uprising began in Saint Domingue, now called Haiti, on August 23, 1791, against the slave trade. Haiti was a French settlement and a centre of the slave trade across Europe. The uprising led to a revolution against the rulers of the country.
• 2023 Theme: “Fighting slavery’s legacy of racism through transformative education”
• The International Day for the Remembrance of the Slave Trade and its Abolition is an important day to remember the victims of the slave trade and to reaffirm our commitment to fighting racism and discrimination. It is also a day to celebrate the progress that has been made and to recommit ourselves to building a more just and equitable world.

 BANKING AND ECONOMY

LIC gets 6.66% stake in Jio Financial Services through demerger process

• Life Insurance Corporation (LIC) has announced its acquisition of a 6.7% stake in Jio Financial Services (JFSL), a non-banking financial services unit that emerged from the conglomerate helmed by Mukesh Ambani – Reliance Industries. The acquisition, carried out through a demerger action by Reliance Industries, is poised to have a notable impact on both entities and the broader financial markets.
• Jio Financial Services made its debut on the stock exchanges on August 21, entering the financial markets with a promising trajectory. The company, post-listing, boasted a market capitalization of approximately Rs 1.60 lakh crore, indicative of the investor interest and confidence in its potential. Despite its strong market capitalization, the stock faced challenges in its initial trading sessions.
• The stock experienced a downward trajectory for the second consecutive session, hitting the lower circuit limit – a threshold set by the stock exchanges to curb excessive volatility – for both BSE and NSE. The stock’s price declined by 4.99% to Rs 239.20 on BSE and by 5% to Rs 236.45 on NSE. This phenomenon has led to discussions regarding the market’s reaction to the demerger and the implications of this volatility on the company’s valuation.