Daily Current Affairs and GK | 10 and 11 September 2023

Topic: Economy/Banking/Finance

1. Reserve Bank of India (RBI) will phase out the incremental cash reserve ratio (I-CRR).

• The RBI will release 25% of the I-CRR on September 9 and September 23. It will remove the entire I-CRR by October 7.
• RBI has decided to phase out I-CRR in order to maintain system liquidity and ensure orderly money market functioning.
• With the I-CRR now removed, experts expect money market rates will moderate.
• RBI had asked banks to maintain an incremental Cash Reserve Ratio (I-CRR) of 10% on the increase in their deposits (net demand and time liabilities) between May 19, 2023 and July 28, 2023.
• RBI intended to absorb the surplus liquidity with this move.
• Largely due to RBI’s move, liquidity in India’s banking system reached into deficit for the first time this financial year on August 22.
• As of September 6, the banking system liquidity surplus was over Rs 1.5 lakh crore.

Topic: International News

2. Vietnam and the US have signed a deal on semiconductor supply chains.

• The deal would expand the capacity of the semiconductor ecosystem in Hanoi (capital of Vietnam), in support of the US industry.
• The United States and Vietnam have also signed a Memorandum of Cooperation on Semiconductor Supply Chains, Workforce and Ecosystem Development.
• Two countries have also announced the launch of comprehensive workforce development initiatives in Vietnam.
• The US government will provide initial seed funding of 2 million US Dollars to launch the initiatives.
• After attending the G20 Summit in India, the US President departed for Vietnam.

Topic: Summits/ Conferences/ Meetings

3. Indian Coast Guard participated in the 19^th Heads of Asian Coast Guard Agencies Meeting (HACGAM).

• The 19th Heads of Asian Coast Guard Agencies Meeting (HACGAM) was held from 05-08 Sep 2023 in Istanbul, Turkiye.
• A four-member ICG delegation led by DG Rakesh Pal, Director General Indian Coast Guard took part in the annual event.
• During the meeting, a series of vital issues including maritime law enforcement, safety and security of life at sea, and marine environment protection were discussed.
• The forum has been formed for further boosting the maritime cooperation among the Asian Coast Guards.
• This is a multilateral forum started by the Japanese to promote cooperation among regional Coast Guards.
• The forum comprises four Working Groups to enable a focused and goal-oriented approach towards coordinated response and synergy towards common maritime issues.
• Indian Coast Guard is the chair of the Search and Rescue (SAR) Working Group.
• The last edition of the HACGAM was held in New Delhi in 2022.

(Source: PIB)

Topic: Environment and Ecology

4. ‘White’ sambar in Cauvery Wildlife Sanctuary has been discovered by Researchers.

• Scientist Sanjay Gubbi and his team found a leucistic sambar in the Sangama range of Cauvery Wildlife Sanctuary.
• The animal was spotted in the Hyra beat of the Sangama range on January 17, 2023.
• This is the first recorded photographic record of a white sambar in the Cauvery wildlife sanctuary.
• A white form of sambar deer was previously recorded in Bandipur Tiger Reserve in 2014.
• Leucism is a condition in which the pigmentation of an animal’s skin is missing, causing white or pale skin.
• It is different from albinism which occurs due lack of melatonin in the animal’s skin.
• The sambar is listed as a vulnerable species as per the IUCN Red List.
• Additionally, previously an albino dhole (Cuon alpinus) was also recorded in the same area.
• The Cauvery Wildlife Sanctuary is a protected area located in the Mandya, Chamarajanagar and Ramanagar districts of Karnataka.

Topic: MoUs and Agreements

5. Three MoUs signed between India and Bangladesh After Bilateral Meet Ahead of G20 Summit.

• On 8 September, PM Narendra Modi and Bangladesh counterpart Sheikh Hasina held a bilateral talk in New Delhi.
• The National Payments Corporation of India (NPCI) and Bangladesh Bank signed the MoU on cooperation in the Digital Payment mechanism.
• The second MoU focuses on the renewal of the Cultural Exchange Program (CEP) between India and Bangladesh for 2023-2025.
• The Indian Council of Agricultural Research (ICAR) and Bangladesh Agricultural Research Council (BARC) signed the third MoU.
• The full range of bilateral cooperation, includes political and security cooperation, border management, trade and connectivity, water resources, power and energy, development cooperation, and cultural and people-to-people relations.
• PM Modi, Sheikh Hasina also expressed hope to begin negotiations on the Comprehensive Economic Partnership Agreement (CEPA), which includes the protection and promotion of trade and investment in goods and services.
• Both the leaders will jointly inaugurate the Agartala-Akhaura Rail Link, Unit-II of Maitri Power Plant, and Khulna-Mongla Rail Link projects at a later convenient date.

Topic: International News

6. India and the US resolved the last trade dispute in World Trade Organization on poultry products.

• With this, both countries have resolved all the seven trade disputes pending in WTO with mutual consent.
• This follows the unprecedented resolution of six outstanding bilateral trade disputes at the WTO in June 2023.
• During Modi's visit to the US in June, both countries announced the ending of six trade disputes at the WTO and the removal of tariffs by India on some of US products (chickpeas, lentils, almonds, walnuts, apples, boric acid, and diagnostic reagents).
• Modi and the US President welcomed India's purchase of 31 drones and move forward in joint development of jet engines and vowed to "deepen and diversify" the bilateral key defense partnership.
• The two leaders discussed cooperation on critical and emerging technologies such as nuclear energy, 6G, and artificial intelligence and ways to fundamentally reshape multilateral development banks.
• In 2012, a poultry case was filed by the US against India in the WTO.
• India has lost the dispute at both the panel and appellate body levels.
• The ruling against India was that New Delhi's ban on imports of poultry products from the US was inconsistent with global norms.
• Since India could not implement the decision within the stipulated time limit, America had demanded compensation.
• After this, both the countries were discussing ways to resolve the matter with mutual consent.
• America is India's largest trading partner. Bilateral goods trade to increase to US$128.8 billion in 2022-23 from US$119.5 billion in 2021-22.

Topic: Geography

7. A 6.8-magnitude earthquake struck the North African country of Morocco.

• More than 2,000 people have died after a powerful earthquake struck Morocco.
• Its epicentre was in the High Atlas mountain range, about 72 kilometers (44.7 miles) southwest of Marrakech.
• The epicentre was roughly 18.5 km below the Earth’s surface.
• It has been classified as a strong earthquake. It struck at a relatively shallow depth.
• This earthquake is the deadliest in Morocco since 1960. Emergency workers have been deployed to affected regions.
• Why did the Morocco earthquake occur?
• It has occurred due to the northward convergence of the African plate with the Eurasian plate along a complex plate boundary.
• According to USGS, oblique-reverse faulting at shallow depth within the Moroccan High Atlas Mountain range could be the main reason for the earthquake in Morocco.
• Earthquakes are also not very common in North Africa
• The seismicity rates are lower in the region.

Topic: National News

8. Mandatory gold hallmarking will now cover 55 more districts.

• The Hallmarking of Gold Jewellery and Gold Artefacts (Third Amendment) Order, 2023 comes into force.
• The third phase of mandatory gold hallmarking has been notified by the government.
• After the government order, it will bring 55 additional districts under the ambit of mandatory hallmarking.
• The total number of districts covered under mandatory hallmarking now stands at 343.
• Since 23 June 2021, in the first phase, the Bureau of Indian Standards (BIS) has implemented mandatory hallmarking of gold jewellery and artefacts in 256 districts.
• After the mandatory hallmarking, the number of registered jewellers has increased from 34,647 to 1.8 lakh.
• Assaying and Hallmarking Centers (AHCs) numbers have increased from 945 to 1,471.
• So far, 26 crore articles of gold jewellery have been hallmarked.

Topic: MoUs and Agreements

9. An MoU signed between the Bharat 6G Alliance and the Next G Alliance.

• This MoU has been signed to explore collaboration opportunities on 6G wireless technologies in India and other parts of the world.
• The Bharat 6G Alliance Chair N. G. Subramaniam and the President and CEO of ATIS's Next G Alliance Susan Miller signed the MoU.
• The MOU will facilitate aligning research and development priorities that support a common 6G approach and create secure and reliable telecommunications and resilient supply chains.
• India envisions the empowerment of society at large, and the next generation of 6G will further enhance the quality of life.
• This requires focused, open, and collaborative research among nations and the MoU is an important step in this direction.
• This agreement is an important step in furthering the development of the global 6G mobile wireless ecosystem.
• Next G Alliance is an initiative of the Alliance for Telecommunications Industry Solutions (ATIS).
• It is an initiative to advance North American wireless technology leadership over the next decade through private sector-led efforts with the initial focus on 6G.
• Bharat 6G Alliance (B6GA):
  • It was launched by the Department of Telecommunications.
  • It is a collaborative platform comprising public and private companies, academia, research institutes, and standards development organizations.
  • The primary objective of B6GA is to understand the business and societal needs of 6G beyond technology requirements, promote consensus on these needs, and foster high-impact open research and development (R&D) initiatives.

Topic: Sports

10. Novak Djokovic created history by winning the 24th Grand Slam title in US Open tennis.

• In men's singles, Serbian star Djokovic defeated Russia's Daniil Medvedev to win the US Open 2023 final at the Arthur Ashe Stadium.
• After this win, the 36-year-old Djokovic equaled Margaret Court's record of 24 Grand Slam tennis titles, the most by any player in history.
• Djokovic, already the oldest French Open singles champion, became the oldest US Open singles champion in the pro era.
• In women's singles, American teenage tennis sensation Coco Gauff won her maiden title by defeating Belarusian Aryna Sabalenka.
• All event winners:

Topic: Summits/Conferences/Meetings

11. New Delhi Leaders’ Declaration adopted at the G20 summit 2023.

• G20 leaders have given 100% consensus on all 83 paras of the Declaration.
• New Delhi Leaders' Declaration focuses on: Strong, Sustainable, Balanced, and Inclusive Growth, Accelerating Progress on SDGs, Green Development Pact for a Sustainable Future, Multilateral Institutions for the 21st Century, Reinvigorating Multilateralism.
• As per India’s G20 Sherpa Amitabh Kant, every single country has come together to focus on green development. The biggest achievement is what we have achieved on women-led development.
• On Russia-Ukraine war, Delhi Declaration called on "all states to uphold the principles of international law including territorial integrity and sovereignty, international humanitarian law, and the multilateral system that safeguards peace and stability".
• The use or threat of use of nuclear weapons is inadmissible.
• European Commission urged G20 countries to agree to global targets on tripling renewable energy capacity and doubling energy efficiency by 2030 to limit the global average temperature increase to 1.5 degree Celsius.

Topic: Summits/Conferences/Meetings

12. India announced launched of Global Biofuel Alliance at G20 Summit.

• On 9^th September 2023, India has announced the launch of a Global Biofuel Alliance at G20 Summit in New Delhi.
• PM Modi has invited all of the countries to join the global biofuel alliance.
• India, USA and Brazil will work together with interested countries for developed of a Global Biofuel Alliance.
• PM Modi stressed the need for all countries to work together in the field of fuel blending.
• India’s proposal is to take an initiative at the global level to take ethanol blending in petrol to as high as 20%.
• PM Modi also said that India has launched National Green Hydrogen Mission to boost green hydrogen production. During India’s G20 presidency, steps have been taken to create a Global Hydrogen Ecosystem.
• PM Modi also proposed to launch the G20 Satellite Mission for Environment and Climate Observation and invited all countries to join it.
• He said that the climate and weather data obtained from India’s Chandrayaan Mission will be shared with all countries, particularly the countries of Global South.
• He also urged leaders to start working on “Green Credit Initiative”.

Topic: State News/ Jharkhand

13. Rs. 1000 pension per month for the transgender community approved by Jharkhand Cabinet.

• On September 6, the Jharkhand government has decided to include the transgender community under its universal pension scheme.
• The proposal of Mukhyamantri Rajya Samajik Suraksha Pension Yojana was approved by the council of ministers for transgender people under the social assistance scheme.
• The eligible beneficiary will get Rs 1,000 per month as financial assistance.
• The objective of the scheme is to provide them with social security and bring them into the mainstream of society.
• In the cabinet meeting chaired by Chief Minister Hemant Soren, it was also decided to include them in the backward class category and provide them benefits.
• As per the Department of Women, Child Development and Social Security (WCDSS), the transgender population in Jharkhand was around 11,900 in 2011, which would be around 14,000 currently.
• The transgenders will have to obtain a certificate from the Deputy Commissioner's office to avail the benefit of the pension scheme.
• Those who are 18 years of age or above and have voter ID cards will be eligible for the scheme.
• Transgenders who do not fall under the scope of any caste reservation will be provided the benefit of Backward Class-2.

Topic: Important Days

14. World Suicide Prevention Day 2023: 10 September

• Every year on 10 September, World Suicide Prevention Day is celebrated.
• It is celebrated to raise awareness among organizations, government, and the public about suicidal death.
• The main focus of this day is to create awareness about ways and measures to prevent suicide and mental health.
• “Creating hope through action” is the triennial theme for World Suicide Prevention Day from 2021 – 2023.
• This theme serves as a powerful call to action and a reminder that suicide is an option and through our actions, we can encourage hope and strengthen prevention.
• In 2003, the International Association for Suicide Prevention, in association with the World Health Organization (WHO) established World Suicide Prevention Day.
• It is currently estimated that more than 700,000 suicides occur each year worldwide.

(Source: News on AIR)