Daily Current Affairs and GK | 11 August 2023

Topic: National News

1. Government has issued additional guidelines for health and Wellness Celebrities and Influencers.

• The consumer affairs department has released a fresh set of guidelines for celebrities, influencers, and virtual influencers in the field of health and wellness.
• The main objective of the additional guidelines is to deal with misleading advertisements, unsubstantiated claims and ensure transparency in health and wellness endorsements.
• Under the guidelines, certified medical practitioners and health and fitness experts with certification from recognized institutions will have to disclose that they are certified health/fitness experts and medical practitioners while sharing information, promoting products or services or making any health claims.
• Celebrities and influencers who claimed themselves as certified health and fitness experts and medical practitioners must provide clear disclaimers.
• This disclosure or disclaimer should be displayed during endorsements, promotions, or at any instance of making health-related assertions.
• The violations of these guidelines can lead to penalties under the Consumer Protection Act 2019 and other relevant provisions of the law.
• These new guidelines are the expansion of the “Guidelines for Prevention of Misleading Advertisements and Endorsements for Misleading Advertisements, 2022".
• These guidelines will strengthen the health and wellness industry and protect consumer interests.
• After detailed discussions with all stakeholders including the health ministry, Ayush, the Food Safety and Standards Authority of India (FSSAI) and the Advertising Standards Council of India (ASCI), these guidelines have been prepared.

Topic: National News

2. India Startup Festival 2023 begins in Bengaluru.

• The 2nd edition of India Startup Festival (ISF) 2023 is being organized from 10th to 12th August 2023 at Muddanahalli, Bengaluru
• More than 10,000 startups from India, the UK, and Japan, and about 500 investors are participating in the event.
• Policymakers from across the country and around the world will address grassroots-level issues and provide effective solutions.
• ‘Innovation at the Bottom of the Pyramid' is the theme of the India Startup Festival 2023. 
• During this event, discussions on vital areas such as Rural Healthcare Education, Fintech, Rural Innovation, Agritech, and food tech will be held.
• The top 100 startups will be selected by the startup panel as finalists. It will give them the opportunity to pitch on the big stage and obtain investment.
• The top 10 startups will get financial awards and will be mentored by senior business people in their respective industries.
• This festival is complementary to the other initiatives started by the government of India to foster a startup ecosystem.
• The first edition of the India Startup Festival was held in 2022.

Topic: National News

3. VP Jagdeep Dhankhar flagged off the Tiranga bike rally from Pragati Maidan.

• On 11 August, Har Ghar Tiranga bike rally flagged off by Vice President Jagdeep Dhankhar of Union Ministers & Members of Parliament in Delhi.
• Ahead of the Independence Day celebrations, Union Ministers and MPs joined the Tiranga Yatra organized in the national capital.
• It will end at Major Dhyanchand Stadium. The procession is being taken out from Pragati Maidan of the city to the duty path.
• Union Culture Minister G Kishan Reddy said that PM Modi has urged people to hoist the tricolor at their homes on August 13, 14 and 15.
• The Har Ghar Tiranga program will be celebrated in the country under the aegis of Azadi Ka Amrit Mahotsav, in which people will be encouraged to hoist flags in their premises.
• The objective of the campaign is to inculcate the spirit of patriotism in the hearts of the people and to remember those who contributed to the building of this great nation.
• Last year, the campaign was a huge success, with crores of families hoisting the tricolor at their homes and six crore people uploading selfies on the Har Ghar Tiranga website.

(Source: News on AIR)

Topic: Awards and Prizes

4. Lifetime Achievement Award presented to Subhash Runwal at the first-ever RICS South Asia Awards.

• Indian real estate entrepreneur Subhash Runwal is the Chairman of Runwal, a leading real estate developer with a legacy of over four decades.
• RICS hosted its first awards. It aims to recognize global and Indian industry-leading achievements.
• This recognition is a testimony to Runwal's exceptional contribution, outstanding achievements, and unwavering dedication towards the real estate sector.
• Runwal was established in 1978, and is one of the leading real estate developers in Mumbai, operating in residential, commercial, and organized retail sectors for over 4 decades.
• The Royal Institution of Chartered Surveyors (RICS) is a global professional body for those working in the Built environment, construction, land, property, and real estate. RICS was established in 1868 in London.

Topic: Reports and Ranking/Indices

5. The report on ‘Assessment of Employment Potential of Jal Jeevan Mission’ has been released.

• On 10 August, this report has been released by the Department of Drinking Water and Sanitation in New Delhi.
• A detailed analysis of the direct and indirect employment generation potential under the Jal Jeevan Mission (JJM) has been carried out in a study conducted by IIM-Bangalore in technical collaboration with the International Labor Organization (ILO).
• This report has estimated the immense employment generation potential of JJM at 2.82 crore person-years of employment.
• The estimated generation of 2.82 crore person-year employment included 59.93 lakh person-year of direct employment during the construction phase of JJM.
• An additional 2.22 crore person-year of indirect employment in the country includes manpower engaged in production of the materials such as pipes, valves, pumps, etc.
• About 40% of the direct employment generated, i.e., 23.8 lakh person-years, is estimated to be due to the participation of engineers, managers, plumbers, electricians, motor mechanics, and chemists, etc.
• Additionally, 11.84 lakh person-years of direct employment during the operation and maintenance (O&M) phase is estimated every year.
• The report 'Assessment of Employment Potential of Jal Jeevan Mission' by the Center for Public Policy under IIIM-B provides an in-depth look at the potential for employment generation at various stages of implementation of JJM.
• This includes aspects such as construction, direct employment through allied employment, transportation, and long-term linkages for the operation and maintenance of piped water supply systems and assets being built in the country under the flagship initiative of JJM.
• The Jal Jeevan Mission, announced by the Prime Minister in August 2019, aims to provide tap water connections to all rural households.

(Source: News on AIR)

Topic: Company and Corporate

6. $10 bn mega-merger between Zee and Sony approved by National Company Law Tribunal (NCLT).

• On 10 August, the NCLT approved the scheme of merger of India's domestic entertainment company Zee Entertainment Enterprises with Culver Max Entertainment (erstwhile Sony Pictures Networks India or SPNI).
• The bench comprising Justice HV Subba Rao and member Madhu Sinha gave approval to the scheme and dismissed all objections raised by some lenders including Axis Finance, IDBI Bank, and Imax Corp, etc.
• Both companies are likely to start the integration process as early as next week.
• ZEE will have 30 days to file with the Registrar of Companies, after which, the company's shares will be de-listed from the stock exchanges and the merged company will be re-listed in the next six weeks.
• After the Sebi approval on 14 August, Punit Goenka may continue to be the MD and CEO of the merged entity.
• Zee is headquartered in Mumbai, Maharashtra. It was founded on 15 December 1991.
• Culver Max Entertainment was founded on September 18, 1995, as Sony Entertainment Television India Private Limited. It is headquartered in Mumbai, Maharashtra.

Topic: Banking System

7. Per transaction limit for UPI Lite has been increased by RBI to 500 rupees.

• The existing limit for UPI Lite was 200 rupees. The limit has been increased to promote digital transactions.
• RBI has also proposed to launch a Conversational Payments mode on UPI.
• It is an innovative payment mode that will enable users to engage in a conversation with an Artificial Intelligence-powered system to launch and complete transactions.
• According to the RBI Governor Shaktikanta Das, this will be available in both smartphones and feature phones-based UPI channels.
• Initially, this will be available in Hindi and English. Later it will be made available in more Indian languages.
• RBI has also proposed that Near Field Communication (NFC) technology will be used in UPI transactions.
• NFC technology allows communication between two electronic devices over a distance of 4cm or less.
• RBI has also raised the offline transaction limit from 200 rupees to 500 rupees.
• However, the overall limit of small-value digital transactions is kept unchanged at 2,000 rupees.
• UPI-Lite is an on-device wallet introduced in September 2022 to increase the speed of small-value transactions on UPI.

Topic: Infrastructure and Energy

8. Paradip Port Authority is the fastest major port to handle 50 million metric tons of Cargo in the present fiscal year.

• It has shown 6.5% growth over the corresponding period of the previous fiscal year.
• Paradip Port Authority achieved this in 129 days in the current fiscal compared to 140 days during the previous year.
• The Port has handled a record 942 Vessels this fiscal year. It had handled 812 Vessels in the corresponding period of the previous fiscal year.
• P.L. Haranadh is the chairman of Paradip Port Authority, which administers Paradip Port.
• Paradip Port is a natural, deep-water port on the East coast of India in Paradip, Odisha. It is at the confluence of the Mahanadi River and the Bay of Bengal.

(Source: News on AIR)

Topic: Indian Polity

9. Union Minister Arjun Ram Meghwal presented CEC and other EC (Appointment Conditions of Service and Term of Office) Bill, 2023.

• The Chief Election Commissioner and other Election Commissioners (Appointment Conditions of Service and Term of Office) Bill, 2023 has been tabled in the Rajya Sabha.
• The bill proposed that the President will appoint the Chief Election Commissioner and other Election Commissioners on the recommendation of a selection committee.
• The committee will comprise the Prime Minister, the Leader of the Opposition or leader of the single largest party in the Lok Sabha, and a Union Cabinet Minister nominated by the Prime Minister.
• In March this year, Supreme Court ruled that the Chief Election Commissioner and Election Commissioners should be appointed by President on the recommendation of a selection panel comprising the Prime Minister, the Leader of the Opposition and the Chief Justice of India.
• At present, Election Commissioners and Chief Election Commissioners (CECs) are appointed by President on the recommendations of the government.
• A panel of five persons would be prepared for consideration by the selection committee.
• Chief Election Commissioner and other Election Commissioners are appointed under Article 324.
• The Election Commission of India (ECI) is a constitutional body, which is responsible for conducting elections.

Topic: Government Schemes and Initiatives

10. Supreme Court launched the ‘SuSwagatam’ online portal.

• The Supreme Court of India launched the ‘SuSwagatam’ online portal to generate online electronic passes for visitors to enter the court's premises.
• It will allow visitors, litigants, counsel, judicial law clerks, staff, parties in the cases, and journalists to apply for electronic passes online.
• The ‘SuSwagatam’ online portal is an initiative for promoting e-governance by the Chief Justice of India.
• This portal will allow a user to register oneself online and request for ePass.
• It will help in simplifying visitor management at the apex court premises.

Topic: Indian Economy

11. Reserve Bank of India has decided to keep the repo rate unchanged for the third time in a row.

• RBI Governor Shaktikanta Das announced that the Monetary Policy Committee (MPC) has unanimously decided to keep the repo rate unchanged at 6.5%.
• The repo rate is the rate at which RBI lends money to commercial banks.
• The Standing Deposit Facility (SDF) rate remains unchanged at 6.25% and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.75%.
• RBI has revised the CPI inflation target to 5.4% for the current financial year.
• The RBI governor projected the real GDP growth for the financial year 2023-24 to be 6.5%.
• RBI will come out with a framework that will allow borrowers to switch from floating interest rates to fixed interest rates.
• This move will provide relief to home, auto, and other loan borrowers.

Topic: State News/ Chhattisgarh

12. 'Kamar' tribe gets habitat rights in Chhattisgarh's Dhamtari.

• The 'Kamar' tribe, a Particularly Vulnerable Tribal Group (PVTG) in the Dhamtari district of Chhattisgarh, has received habitat rights.
• With this move, Chhattisgarh has become the second state in the country after Madhya Pradesh to issue such authorization to PVTGs.
• This will help in protecting their culture and means of livelihood and the government will be able to work for their development.
• Kamar is the first PVTG in the state to get such status.
• This step will benefit the Kamar tribe families living in 22 colonies of the Magarlod block of the Dhamtari district.
• On the occasion of World Tribal Day (9 August), Chief Minister Bhupesh Baghel handed over the habitat rights certificates to the heads of these 22 settlements.
• The members of the Kamar tribe mainly reside in Gariaband, Dhamtari, Mahasamund, and Kanker districts.
• As of the 2011 India census, they had a population of 26,630.
• Chhattisgarh has five PVTGs declared by the Center which include Abujmadia, Baiga, Kamar, Birhor, and Pahadi Korwa, while the state government has accorded PVTG status to two tribal groups - Pando and Bhunjia.
• Habitat rights is a special provision under the Forest Rights Act (FRA)-2006 for the recognition of traditional rights of PVTGs/pre-agricultural communities.

Topic: State News/ Rajasthan

13. Rajasthan government launched Indira Gandhi Smart Phone Scheme in Jaipur.

• Chief Minister Ashok Gehlot has launched the Indira Gandhi Smart Phone Scheme in Jaipur.
• Under this scheme, 1.3 crore women in the state will receive free smartphones with three years of data.
• In the first phase, 40 lakh women will receive smartphones. More than 400 mobile distribution camps are being organized across Rajasthan.
• Ashok Gehlot also launched the 'Digital Sakhi Book' at the event.
• Smartphones will be distributed to girl students studying in classes 9 to class 12 in government schools, college students, single women and widows.
• Through DBT Rs 6,800 will be deposited in an e-wallet for the purchase of the smartphones and SIM cards.
• In the first phase, the Women heads of households who worked 100 days under the Mahatma Gandhi NREGA and 50 days under the Indira Gandhi Urban Employment Guarantee Scheme will receive the phone.
• Beneficiary women will be able to choose the smartphones of their choice in the camps.

Topic: International News

14. Chinese economy entered into deflation.

• The Chinese economy has slipped into deflation as Consumer prices fell down in July for the first time in the last two years.
• The producer prices contracted for the 10th consecutive month. The producer price index (PPI) fell by 4.4% in July as compared to the previous year.
• The decline in PPI indicates that input costs for businesses are falling.
• The demand in the Chinese economy has weakened. The consumer price index (CPI) fell by 0.3% in July from a year earlier.
• China is facing deflation due to ongoing turmoil in the real estate sector. The real estate market is a major driver of growth in China.
• Global slowdown and government crackdown on debt are the other reasons for the Chinese deflation.
• Deflation
  • It is a decrease in the general level of prices of goods and services.
  • It means that people can buy more with their money but the profits of businesses may decline.
  • Deflation could lead towards a decline in economic growth and the hiring of workers.
  • An increase in unemployment could be one of the negative impacts of Deflation as businesses could lay off workers for cost-cutting.