Daily GK Update: 11th August 2023

 Defense

1. Indian Navy participated in Exercise Malabar 2023 with indigenous warships

• Indian Navy's indigenous frontline warships INS Sahyadri and INS Kolkata (11-days long) participated in Exercise MALABAR 2023 in Australia
• Aims: To enhance and demonstrate interoperability and also gain from the best practices in maritime security operations from its partner nations.
• Ships and aircraft from the US Navy, Japan Maritime Self-Defence Force, and for the first time the Royal Australian Navy will also participate in the exercise.

 Banking & Finance

2. Airtel Payments Bank Launched India’s 1st Eco-Friendly Debit Card

• Airtel Payments Bank has become the first Indian bank to launch an eco-friendly debit card for its new and existing customers with a savings bank account in Aug 2023
• The debit cards will be made from certified eco-friendly r-PVC (recycled polyvinyl chloride) material, which is environmentally safe.
• Producing the r-PVC cards will lead to a 43 percent reduction in hydrocarbon usage, effectively decreasing petroleum consumption during the manufacturing process.

 Agreement

3. ISB signed MoU with Goa government for knowledge partnership

• The Indian School of Business (ISB’s) Bharti Institute of Public Policy signed an MoU with the Goa government in August 2023.
• Aims: To begin a knowledge partnership with a focus on evidence-based policy formulation and its impact in the State.
• Objectives: To improve the social and economic prosperity indicators through evidence-based public policy interventions, capacity-building workshops, and citizen-centric governance-based initiatives as a knowledge partner. 

 Agreement

4. IIITD-IC partners with YES BANK; aims to scale up Indian startups

• Indraprastha Institute of Information Technology Delhi Innovation and Incubation Centre (IIITD-IC), signed a MoU with YES BANK in August 2023
• Aims: To enable IIITD-IC to strengthen its mentoring initiatives for startups, as well as identify newer investment and funding opportunities that can benefit startups.
• Under the partnership, YES BANK will offer banking facilities to Startups that are in a developmental phase at IIITD-IC under the Bank’s YES HeadStartup program.  

 Science & Technology

5. Russia launched its lunar lander after almost 5 decades

• Russia launched its first lunar landing mission on August 11 2023 after almost 5 decades.
• A Soyuz 2.1v rocket carrying the Luna-25 craft will blast off from the Vostochny cosmodrome targeted to the south polar region of the Moon.
• Aims: To study composition of the polar regolith, and to study the plasma and dust components of the lunar polar exosphere.
• According to the Russia's space chief Yuri Borisov the spacecraft is expected to reach the lunar world on Aug 21 2023.

 National & International Appointments

6. North Korean leader Kim Jong Un replaces its Chief of General Staff, Pak Su

• North Korean leader Kim Jong Un has replaced its Chief of General Staff, Pak Su Il who previously served as Defence Minister in August 2023.
• He set a target for the expansion of weapons production capacity.
• He has instructed the military to be prepared in case of war and also directed to conduct drills with country's latest weapons and equipment.
• Pak Su Il served as the top commander of its conventional troops.
       

 Science & Technology

7. Centre approves establishment of new spaceport in Tamil Nadu

Minister of State Science & Technology Jitendra Singh has approved the establishment of a new spaceport in Kulasekarapattinam, Tamil Nadu in August 2023.
Aims: To carrying out the launches of the Small Satellite Launch Vehicles developed by ISRO.
The Indian Space Policy 2023 has the provision for utilisation of a spaceport for carrying out launch activities by Non-Government Entities, subject to technical feasibility and range safety constraints.

 Science & Technology

8. Centre approves establishment of new spaceport in Kulasekarapattinam

• Minister of State Science & Technology Jitendra Singh has approved the establishment of a new spaceport in Kulasekarapattinam, Tamil Nadu in August 2023.
• Aims: To carrying out the launches of the Small Satellite Launch Vehicles developed by ISRO.
• The Indian Space Policy 2023 has the provision for utilisation of a spaceport for carrying out launch activities by Non-Government Entities, subject to technical feasibility and range safety constraints

 National Affairs

9. Air India gets a makeover with a new logo

• Air India unveiled its mega brand makeover and new logo, which signifies “limitless possibilities” in August 2023.
• AI’s new logo  'The Vista’ includes a modern design with golden, red and purple colours.
• It is inspired by the peak of the gold window frame, signifying limitless possibilities, progressiveness, and the airline’s bold, confident outlook for the future.
• It represents the spirit of a bold new India, marking a significant turning point in its Vihaan.

 Banking & Finance

10. India’s first AU bank to provide 24x7 video banking service.

• AU Small Finance Bank Limited (AU Bank), has become the first financial services provider in India to launch a 24x7 live video banking service in August 2023.
• Aims: To provide a virtual platform where customers can communicate with a video banker in real time via video calls, like video conferencing.
• Objectives: To extend the reach of banking services to areas with limited infrastructure and resources, offering a convenient and personalized banking experience.

 Banking & Finance

11. RBI Unveils AI-Powered “Conversational Payments” for UPI Transactions

• The Reserve Bank of India (RBI) has introduced Artificial Intelligence-powered conversational features on UPI, in August 2023.
• Aims: To enable digital payments through voice commands 
• The concept, known as “Conversational Payments,” introduces a dynamic and user-friendly approach to transactions
• Objectives: To allow users to initiate payments seamlessly within chat or messaging conversations, transforming routine interactions into instant financial exchanges

 State Affairs

12. New Amravati Station Becomes Central Railway’s Third ‘Pink Station’

• Central Railway has inaugurated the New Amravati station as the 1st “Pink Station” on the Bhusaval Division and the 3rd station on Central Railway to be fully managed by an all-women staff.
• The examples are set by Matunga station in the Mumbai division and Ajni station in the Nagpur division.
• Railway has a staff strength of 12 women employees including 4 Deputy Station Superintendents, 4 Pointswomen, 3 Railway Protection Personnel and 1  Ticket Booking Agent

 National Affairs

13. Sebi halves listing timeline to 3 days post IPO closure

• The Securities and Exchange Board of India reduced the timeline for listing of securities after the closing of an initial public offering to three days from the present requirement of six working days
• The reduction in timelines will benefit both issuers as well as investors
• Issuers will have faster access to the capital raised thereby enhancing the ease of doing business, and the investors will have opportunity for having early credit and liquidity of their investments

 Science & Technology

14. India committed to eliminating Lymphatic filariasis by 2027

• Health Minister, Mansukh Mandaviya, declared the goal of suppressing Lymphatic Filariasis by 2027 during the inauguration of the second phase of the Annual Nationwide Mass Drug Administration initiative.
• The second phase, targeting 81 districts across nine endemic states, including Assam and Uttar Pradesh.
• He highlighted the "Whole of Government" and "Whole of Society" approach as pivotal to successfully eliminating the disease.