Defense
2. Indian Navy participated in bilateral naval exercise 2023 with UAE Navy
- Two Indian Naval Ships INS Visakhapatnam and INS Trikand participated in a bilateral Naval Maritime Partnership Exercise with the UAE Navy at Port Rashid, Dubai in Aug 2023
- Aim: To enhance the interoperability and synergy between the two navies by cross-training on tactics, techniques, and procedures while developing stronger professional bonds.
- Objective: To jointly tackle the common challenges of piracy, smuggling, and human trafficking and enhance maritime security.
Banking & Finance
3. Gross Direct tax collections rise 16 % to Rs 6.53 lakh crore in FY 2023
- The gross direct tax collection has registered a growth of around 16% to RS 653,000 crore compared to the same period in 2022 in Aug 2023
- Net direct tax collection, after adjusting refunds, stands at RS 584,000 crore, which is over 17 % higher than the net collections for the same period 2022.
- The collection is over 32% of the total Budget estimates of Direct Taxes for 2023-24.
- Refunds amounting to Rs 69,000 crore has issued, which is 3.73% more compared to year 2022
Important Dates
4. 13 August is celebrated as World Organ Donation Day
- World Organ Donation Day is observed every year on August 13
- Aim: To spread awareness around the importance of organ donation and bust myths around it.
- Theme for 2023: "Step up to volunteer; need more organ donors to fill the lacunae".
- Organ donation means when a person allows to surgically remove their organ and transplant it to another person.
- This is done with the content of the donor when they are alive or that of their kin when they are no more.
Important Dates
5. 13 August is celebrated as International Left-Handers Day
- International Left-Handers Day is celebrated every year on August 13
- Aims: To raise awareness about the challenges and of left-handers, understanding in a predominantly right-handed world.
- Goal: To work on the challenges left-handers face and cater to their unique needs.
- Theme for 2023: “Left-Handers in Sports.”
- Objective: To recognize and appreciate the diversity of skills, talents, and perspectives that left-handers bring to various fields and activities.
Schemes
6. Odisha launched scheme to improve banking penetration in 4,373 panchayats
- The Odisha Cabinet chaired by Chief Minister Naveen Patnaik approved to open banking outlets in 4,373 unbanked gram panchayats at a cost of Rs 500 crore in Aug 2023
- Aim: To improve financial inclusion, will be implemented in coordination with six public sector banks in a phased manner.
- The scheme will be implemented in coordination with six public sector banks - State Bank of India, Punjab National Bank, UCO Bank, Union Bank of India, Bank of Baroda and Bank of India.
Banking & Finance
7. NPCI launches UPI Chalega 3.0 campaign to promote easy digital payments
- National Payments Corporation of India (NPCI) launched the 3rd edition of the UPI Safety Awareness Campaign, “UPI Chalega” in August 2023.
- Aim: To promote UPI’s brand awareness, amplify understanding of its features, and encourage wider adoption among new users
- It also educates users about various features such as UPI LITE, which enables swift low-value transactions; UPI AUTOPAY, which allows secure and convenient recurring payments using any UPI application
Banking & Finance
8. 5 banks offering MSSC, post office scheme earning 7.5% interest rate
- Finance Minister, Nirmala Sitharaman introduced the Mahila Samman Savings Certificate (MSSC), a small savings scheme for women and girls in August 2023
- MSSC is a 2-year deposit scheme, which offers an interest rate of 7.5% per annum.
- Objective: To promote financial inclusion and empower women, including girls.
- It is a one-time program that runs from April 2023 to March 2025.
- Banks Include: Bank of Baroda, Union Bank of India, Canara Bank and Bank of India
Honours & Awards
9. Kanwardeep recieved Home Minister’s award for excellence in investigation
- Chandigarh Senior Superintendent of Police, Kanwardeep Kaur was named as the recipient of the ‘Union Home Minister’s Medal of Excellence in Investigation’ for the year 2023.
- She was given the award for her outstanding investigative work in a minor’s rape case, which resulted in the accused being sentenced to death within 11 months of committing the crime.
- She worked the case when she was the SSP of Kapurthala district.
Banking & Finance
10. Wholesale inflation stays in negative for fourth month at (-) 1.36% in July
- The wholesale price-based inflation remained in the negative territory for the fourth straight month in July 2023 at (-)1.36 percent on easing prices of fuel, even though food articles turned costlier.
- The wholesale price index (WPI) based inflation rate has been in the negative since April and was (-)4.12 percent in June. In July last year, it was 14.07 percent.
- Inflation in food articles skyrocketed 14.25 percent in July against 1.32 percent in June 2023
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