Daily Current Affairs and GK | 21 September 2023

Topic: Defence

1. Indian Naval Ships reached Singapore to take part in SIMBEX 23.

• SIMBEX-2023 is being conducted in two phases in Singapore. The Harbour Phase will be from 21 to 24 September 2023 followed by the Sea Phase.
• Indian Naval Ships Ranvijay and Kavaratti and submarine INS Sindhukesari are participating in the exercise.
• Long-Range Maritime Patrol Aircraft P8I is also participating in the exercise from India.
• A wide range of professional interactions, cross-deck visits, Subject Matter Expert Exchanges (SMEE) and sports fixtures are part of the Harbour Phase.
• Its main aim is to enhance interoperability and mutual understanding between the navies of India and Singapore.
• Complex and advanced air defence exercises, gunnery firings, tactical manoeuvres, anti-submarine exercises and other maritime operations will be part of the Sea Phase of SIMBEX 23.
• India and Singapore have been organizing the SIMBEX exercise since 1994. It is the longest continuous naval exercise that the Indian Navy has with any other country.

(Source: PIB)

Topic: Art and Culture

2. Nuakhai has been celebrated on 20 September.

• Nuakhai is an agricultural festival mainly observed by the people of Odisha in India.
• It is observed to welcome the new rice of the season.
• It is celebrated on the panchami tithi (the fifth day) of the lunar fortnight of the month of Bhadrapada.
• It is also celebrated in some areas of Jharkhand and Chattisgarh.
• Nuakhai is also called Nuakhai Parab or Nuakhai Bhetghat. It is a festival for the worship of food grain
• The word nua means new and Khai means food so farmers celebrate this festival to welcome new crops.
• The festival begins with the offering of the new rice to the gods.

Topic: State News/ Uttar Pradesh

3. Uttar Pradesh International Trade Show inaugurated by President Draupadi Murmu.

• On 21 September, the first Uttar Pradesh International Trade Show inaugurated in India Expo Centre and Mart in Greater Noida.
• The trade show will run from 21 to 25 September.
• More than two thousand manufacturers from various sectors including automobile, handicrafts, healthcare, food processing, pharmaceutical, dairy, electronics, and e-commerce will showcase their products.
• Mumbai Dabbawalas, along with state government departments and institutions, will organize informative sessions on various business activities.
• 108 new start-ups will also participate in the trade fair.
• More than five lakh national and international visitors are expected to participate in the trade fair.
• So far, around 400 participants from over 60 countries have registered for the event.
• Over 2000 exhibitors will be showcasing their products across various sectors including automobile, handicrafts, healthcare, food processing, pharmaceuticals, dairy, electronics, and e-commerce.

(Source: News on AIR)

Topic: MoUs and Agreements

4. An MoU signed between the India Global Forum and the World Government Summit.

• On 20 September, the MoU has been signed between both to develop an Emerging Economies Programme.
• The MoU was signed by Manoj Ladwa, Founder and Chairman of India Global Forum, and Mohamed al Sharhan, Managing Director, of World Governments Summit.
• This MoU will bring together key stakeholders including government officials, business leaders, economists, and experts for high-level discussions on sustainable economic growth, geo-economic outlook, and innovative solutions.
• This partnership will focus on thought leadership, research development on emerging trends, and promotion of opportunities relevant to underdeveloped and developing countries.
• This program will also serve to continuously expand the field of data for future governments.
• The World Government Summit is a global, non-partisan, non-profit organization dedicated to shaping the governments of the future.
• The summit assesses the agenda of the new generation of governments in their various activities, focusing on innovation and using technology to address the universal challenges facing humanity.

(Source: News on AIR)

Topic: International News

5. African Union will launch its own credit rating agency.

• The African Union is planning to launch a new African credit rating agency in 2024 in response to its concerns about unfair ratings given to African countries.
• The agency will prepare its own assessment of the credit risks associated with African countries.
• It will operate within the continent, self-financing its operations.
• It aims to provide an additional context for investors when making decisions about purchasing African bonds or granting private loans to countries.
• The leaders of the African Union and its member states claim that the "big three" rating agencies–Moody's, Fitch, and S&P Global Ratings–do not properly assess the debt risks associated with African countries.
• They also allege that these agencies rapidly downgrade African countries, especially during crises such as the global health crisis.
• An earlier study conducted by the United Nations revealed that African countries had lost a combined US$74.5 billion due to subjective biases in credit ratings.
• This was due to lost funding opportunities, and additional interest paid on public debt.

(Source: News on AIR)

Topic: Important Days

6. International Day of Peace 2023: 21 September

• On 21 September, the International Day of Peace is celebrated.
• It is celebrated to strengthen the ideals of peace, both within and among all nations and people.
• The theme of International Day of Peace 2023 is "Actions for peace: Our ambition for the #GlobalGoals".
• International Day of Peace was started in 1981.
• In 2001, it was designated as a period of non-violence and cease-fire.
• The United Nations General Assembly has declared it a day dedicated to strengthening the ideals of peace through 24-hour non-violence and observance of ceasefire.
• The day promotes global solidarity to build a peaceful and sustainable world.

(Source: News on AIR)

Topic: Summits/Conferences/Meetings

7. 13th Indo-Pacific Armies Chiefs Conference (IPACC) will be organized from 26 to 27 September.

• It will be held at Manekshaw Centre, in New Delhi.
• This will be the 13th biennial event which will be hosted by the Indian Army and US Army Pacific.
• Army chiefs of the 30 Indo-Pacific region will attend the two-day conference.
• The conference will discuss security cooperation, and collective strategies in the Indo-Pacific region.
• The conference will also discuss the issues of mutual interest in the region.
• It will also discuss the role of military diplomacy in mitigating the crisis in the region.
• The two other conferences will also be separately held at Manekshaw Centre. These are the Indo-Pacific Armies Management Seminar (IPAMS), and Senior Enlisted Leaders Forum (SELF).
• Indo-Pacific encompasses 64% of the world's inhabitants. It contributes 63% of GDP, including 46% of world merchandise trade.

Topic: Summits/Conferences/Meetings

8. The 14th edition of the Global Skills Summit started in New Delhi on 20 September 2023.

• It is a two-day summit, which aims to focus on creating a road map for a high-quality industry-led skilling ecosystem in India.
• The theme of the summit is building skills, empowering youth, and creating a future.
• The summit will see discussions on the ways to make the youth of India skilled for the industry.
• Ministry of Skill Development and Entrepreneurship Secretary Atul Kumar Tiwari addressed the Summit.
• He said the country's dynamic workforce seeks immediate post-school opportunities.

Topic: Indian Economy

9. ADB lowered India's GDP projection for FY23 to 6.3%.

• The Asian Development Bank (ADB) lowered India's gross domestic product (GDP) growth projection to 6.3 per cent from 6.4 per cent.
• The GDP projection has been decreased due to slowing exports and the likely impact of erratic rainfall on agriculture output.
• The GDP projection for fiscal (2024-2025) has been retained at 6.7%.
• ADB has raised their inflation forecast to 5.5% from 5% estimated in April.
• According to the Asian Development Outlook September 2023, India’s growth will be propelled by robust domestic consumption and investment including government capital expenditure.
• India’s GDP grew by 7.8 per cent year in the current fiscal year.
• ADB also lowered the economic growth forecast for developing Asia to 4.7 per cent for this year.
• This year the Growth in China will be 4.9 per cent, slower than the 5 per cent estimated previously.
• ADB cited three main risks - the impact of the weakness in China’s property sector, supply disruptions due to the Russia-Ukraine war and export curbs amid the risk of droughts and floods caused by El Nino.

Topic: Awards and Prizes

10. Government will now recognise scientists with Rashtriya Vigyan Puruskar under four categories.

• The government has decided to makeover Science awards as Rashtriya Vigyan Puraskar under 4 categories.
• These four categories will be as follows: Vigyan Ratna, Vigyan Shri, Vigyan Yuva–Shanti Swarup Bhatnagar, and Vigyan Team.
• The highest honour for young scientists retains the name Shanti Swarup Bhatnagar.
• This decision has been taken by the government after releasing the final list of Shanti Swarup Bhatnagar awardees.
• Vigyan Ratna award will be given to scientists for their lifetime achievement.
• Vigyan Shri will recognise the distinguished contributions of Scientists in their field.
• Vigyan Yuva Shanti Swarup Bhatnagar will encourage young scientists and will be given for their exceptional contributions in their field.
• Vigyan Team Award will be given to teams of three or more.
• These awards will start in 2024. Nominations for the awards will be accepted from January 14 and February 28.
• The Rashtriya Vigyan Puraskar will be awarded in 13 domains. Only 3 persons will be awarded with Vigyan Ratnas yearly.
• Every year, 25 Vigyan Shri, 25 Vigyan Yuva, and 3 Vigyan Team will be given. Vigyan Yuva will have an age limit of 45 years.
• A committee under the chairmanship of the principal scientific adviser will select the awardees.

Topic: Important Days

11. World Alzheimer's Day: 21 September

• World Alzheimer’s Day is observed each year on 21 September.
• 'Never too early, never too late' is the theme for this year’s World Alzheimer's Day.
• Alzheimer’s is a neurodegenerative disease that leads to dementia.
• German psychiatrist and pathologist, Alois Alzheimer described it for the first time in 1906.
• Its symptoms are memory-related difficulties, mood swings, and disorientation.
• It may be inherited genetically or caused by head injuries, depression, and hypertension.

Topic: Geography

12. Vanadium has been discovered off the Gujarat Coast.

• It was discovered in the samples collected by the Geological Survey of India (GSI).
• The samples were collected from the Gulf of Khambhat near the Alang town in Bhavnagar district.
• Vanadium is a rare element. Titanomagnetite is the primary source of it. 88% of the world's Vanadium is extracted from it.  
• Its lack of occurrence in pure form makes its extraction costly.
• It has uses as industry raw material and has uses in the defence sector as well.
• It can be used to strengthen steel and titanium. It is also used in jet engine parts and electrical components because of its durability against corrosion and high temperatures.
• In February 2023, reserves of lithium were discovered in the Salal-Haimana area of the Reasi district. Lithium reserve was also found in Rajasthan's Degana.

Topic: State News/ Uttar Pradesh

13. Uttar Pradesh government has declared 29 June as Traders’ Welfare Day.

• This day coincides with Bhamashah’s birth anniversary.
• Bhamashah was an aide of Maharana Pratap whose moral and financial support is believed to have helped Maharana reclaim most of his lost territory.
• The government has also decided to hold an investors’ summit in every district to recognise and honour prominent local business leaders and industrialists on the day,
• The businessperson who pays the highest taxes in the state will be felicitated.
• The Uttar Pradesh Sangeet Natak Academy would receive more than ₹1.70 crore to host a state-level cultural event on the day.
• Six departments would provide financial support. These departments and financial support include ₹30 lakh by Tourism, ₹30 lakh by Information and Public Relations, ₹20 lakh by MSME, ₹20 lakh by Khadi and Village Industries, ₹20 lakh by Social Welfare and ₹50 lakh by Culture department.

Topic: National News

14. TRAI has given the recommendations on ‘Rationalization of Entry Fee and Bank Guarantees.’

• TRAI has decided to lower down the entry fee for the telecom circle/ metro area from ₹1 crore earlier to ₹50 lakh in case of access service.
• It has recommended that the entry fee should be lowered from ₹50 lakh to ₹25 lakh for J&K and North-East.
• TRAI has recommended to the Government to reduce the entry fees across various license authorizations.
• Telecom Regulatory Authority of India (TRAI) has also recommended to the Government the merging of bank guarantees.
• It has also recommended no entry fee at the time of renewal of the license.
• Entry Fee is a fixed one-time amount. It must be paid by prospective entrants to enter a market.
• Entry Fees are non-refundable. These form start-up costs for a firm.
• A Bank Guarantee is a type of financial instrument to safeguard the interests of the Government.
• It makes sure that the licensee pays its dues on time. It also ensures that the licensee fulfills their obligations as per the terms and conditions prescribed in the license agreement.
• In July 2022, TRAI issued a consultation paper on “Rationalization of Entry Fee and Bank Guarantees”.