Today's Current Affairs 26th September 2023

INTERNATIONAL

Nepal, China sign 12 agreements during PM Prachanda's visit to Beijing

• Nepal’s Prime Minister, Pushpa Kamal Dahal, recently concluded his week-long visit to China, which was expected to address critical issues such as Belt and Road Initiative (BRI) projects, cross-border energy trade, and past agreements. However, the agreements signed during this visit did not cover these key areas. Instead, they focused on various other aspects of bilateral cooperation.
• The agreements were the result of delegation-level talks between Prime Minister Dahal and Chinese Premier Li Qiang. While some of the expectations and commitments made by the Nepali Prime Minister were not included in the agreements, they may find their way into a joint communiqué.
• The discussions comprehensively reviewed the state of bilateral relations, expressing satisfaction with the close ties between the two nations. The emphasis was on strengthening economic, trade, and people-to-people cooperation.

 NATIONAL

Indian Oil unveils India's first green hydrogen-run bus that emits just water

• On September 25, 2023, the Indian Oil Corporation (IOC) achieved a significant milestone in India’s transition to clean energy by unveiling the nation’s first green hydrogen-powered bus. This groundbreaking initiative marks a crucial step towards reducing the nation’s dependency on fossil fuels while promoting eco-friendly transportation alternatives.
• IOC is leading the charge in harnessing the power of green hydrogen, produced through the electrolysis of water using electricity from renewable sources. This green hydrogen will be utilized to fuel two buses, which are slated for trial runs in the national capital region.
• Oil Minister Hardeep Singh Puri, during the ceremonial flag-off of these innovative buses, emphasized that hydrogen is set to become India’s transitional fuel, paving the way for a cleaner, more sustainable future. The IOC’s Research and Development Center in Faridabad is spearheading the production of green hydrogen for the initial pilot run.

Most trusted digital ID in the world: India refutes Moody’s concerns about Aadhaar

• Moody’s Investors Service, a global rating agency based in New York, recently issued a report on “Decentralized Finance and Digital Assets” on September 23, in which it raised concerns about the security and privacy vulnerabilities associated with biometric technologies, particularly India’s Aadhaar program.
• Acknowledging Aadhaar as “the world’s largest digital ID program,” Moody’s highlighted the fact that it assigns unique identification numbers to over 1.2 billion Indian residents using biometric and demographic data.
• Moody’s expressed doubts regarding the reliability of biometric technologies, specifically in humid climates, citing concerns about the Unique Identification Authority of India (UIDAI) administered Aadhaar system. They noted that the Aadhaar system often leads to service denials, particularly for manual laborers operating in hot and humid conditions, which raises questions about the effectiveness of biometric authentication.

 SPORTS

India clinch their first-ever Gold medal in cricket at the Asian Games

• In a remarkable debut appearance in the Asian Games cricket competition, India emerged victorious against the formidable Sri Lankan team, securing the gold medal with a 19-run victory. This triumph marks a significant milestone for India, who had chosen not to participate in the two previous editions of the continental Games that included cricket as a sport.
• India’s path to gold began with their impressive batting performance. After winning the toss, they chose to bat first and managed to reach a total of 116-7 in their allotted 20 overs. The key partnership of Smriti Mandhana, who contributed with 46 runs, and Jemimah Rodrigues, who added 42, played a pivotal role in setting up a competitive target for Sri Lanka.

 IMPORTANT DAYS

World Environmental Health Day 2023:26^th September

• Every year on September 26, World Environmental Health Day is celebrated to highlight the intricate relationship between humans and their environment. This annual observance emphasizes the profound impact of our surroundings on our well-being and aims to promote healthier and safer communities worldwide.
• Environmental Health is a critical branch of public health that focuses on examining and enhancing the connection between human beings and their environment. It encompasses various facets of our daily lives, including our living spaces, food, surroundings, and the air we breathe.
• Fostering Healthy Communities: Environmental Health endeavors to create communities that are not only safe but also conducive to promoting overall human and environmental well-being.
• Promoting Human Health: By addressing environmental factors, it contributes significantly to improving human health and ensuring a better quality of life for all.

 AWARDS AND RECOGNITION

Waheeda Rehman to be conferred with Dadasaheb Phalke Award for her stellar contribution to Indian Cinema

• Today on September 26, 2023, Union Minister for Information and Broadcasting, Anurag Thakur, announced that the seasoned and accomplished actor, Waheeda Rehman, will be honored with the prestigious Dadasaheb Phalke Lifetime Achievement Award, India’s highest recognition in the world of cinema.
• Waheeda Rehman’s illustrious career is synonymous with excellence. She has etched her name in the annals of Indian cinema as one of its finest talents. Known for her versatility, she has delivered unforgettable performances in a myriad of iconic films, including “Pyaasa,” “CID,” “Guide,” “Kaagaz Ke Phool,” “Khamoshi,” and “Trishul.” Her contributions to the world of cinema have left an indelible mark that resonates with audiences across generations.
• Union Minister Anurag Thakur, taking to Twitter, expressed his immense happiness and honor in bestowing this prestigious award upon Waheeda Rehman. He highlighted her stellar contributions to Indian cinema, acknowledging her role in shaping the industry into what it is today.

 BANKING AND ECONOMY

Amazon steps up AI race with up to $4 billion deal to invest in Anthropic

• E-commerce giant Amazon.com has announced a strategic investment of up to $4 billion in Anthropic, an AI startup, marking a significant move to enhance its presence in generative artificial intelligence. This partnership, as reported by Bloomberg (Software company), not only involves a substantial financial commitment but also provides Anthropic with access to Amazon’s formidable computing power.
• This substantial $4 billion investment in Anthropic reflects Amazon’s commitment to advancing its position in the AI landscape. While it may not have an immediate financial impact on Amazon’s cloud-services unit, it signals the company’s determination to compete with industry leaders, particularly Microsoft, in the realm of artificial intelligence.

 India allows 75,000 tonne of non-Basmati white rice exports to UAE

• The Government of India has recently made a significant decision to permit the export of 75,000 tons of non-basmati white rice to the United Arab Emirates (UAE). This move comes at a time when India had imposed restrictions on the export of non-basmati white rice, aiming to bolster domestic supplies amidst concerns over inflation and the unpredictability of the monsoon season. The Directorate General of Foreign Trade (DGFT) made this announcement on Monday, signaling a shift in India’s export policies.
• The export of non-basmati white rice to the UAE will be facilitated through the National Cooperatives Exports Limited (NCEL). NCEL plays a crucial role in ensuring the smooth execution of India’s export initiatives, and its involvement in this endeavor underscores the government’s commitment to balancing domestic and international demands for essential food commodities.

S&P retains India's FY24 growth forecast at 6%, citing global economic slowdown, rising monsoon risks

• S&P Global Ratings has reaffirmed India’s growth forecast for the current fiscal year at 6 percent, citing several factors affecting the economic landscape. This announcement comes amid a backdrop of global economic challenges, concerns over subnormal monsoons, and the delayed effects of interest rate hikes.
• India’s economy posted robust growth of 7.8 percent in the first quarter of 2023, bolstered by strong demand in the services sector and sustained capital expenditure by the government.
• S&P Global Ratings maintains a positive outlook, projecting India’s economy to grow at 6.9 percent in both the fiscal years 2024-25 and 2025-26. This demonstrates confidence in India’s economic prospects despite the global headwinds.