- National:
- President Droupadi Murmu visited West Bengal on August 17, 2023. During her one-day visit to Kolkata, the President launched the ‘My Bengal, Addiction Free Bengal’ Campaign under the ‘Nasha Mukt Bharat Abhiyan’, organized by Brahma Kumaris at Raj Bhavan, Kolkata.
- The Chairman of the Central Water Commission (CWC), Kushvinder Vohra, launched a mobile application called “FloodWatch” to provide real-time flood forecasts to the public using interactive maps. The app aims to use mobile phones to disseminate information related to the flood situation and forecasts up to 7 days on a real-time basis.
- India has handed over a substitute Dornier-228 maritime surveillance aircraft to Sri Lanka to reaffirm security ties and bolster Colombo’s surveillance capabilities. The original Dornier-228 aircraft was gifted by New Delhi to Sri Lanka in August 2022 and has proved crucial in several security operations.
- According to a report by CRISIL, the Indian economy is projected to grow at 6% in FY24. The report also states that India’s GDP over the next five fiscal years will grow 6.8% annually, driven by capital and productivity increases.
- Chennai-based space tech startup Agnikul Cosmos has begun the integration process of its first launch vehicle, Agnibaan SOrTeD (SubOrbital Technological Demonstrator), with its private launchpad located at the Satish Dhawan Space Centre (SDSC) SHAR in Sriharikota
- The Supreme Court of India refused to stay the uploading of data collected in the recently concluded Bihar caste-based survey. The court declined the plea of the petitioners who argued that the survey violated a citizen’s fundamental right to privacy.
- The Rajya Sabha Chairman, Jagdeep Dhankar, has referred three proposed bills to the Standing Committee on Home Affairs for examination. These bills seek to replace British-era criminal laws and the Rajya Sabha has asked the Standing Committee to submit its report within three months.
- The Rajya Sabha Chairman, Jagdeep Dhankar, has referred three proposed bills to the Standing Committee on Home Affairs for examination. These bills seek to replace British-era criminal laws and the Rajya Sabha has asked the Standing Committee to submit its report within three months.
- Banking:
- The Reserve Bank of India (RBI) has selected global consultancy firms McKinsey and Company India LLP and Accenture Solutions Pvt Ltd India to develop systems using artificial intelligence (AI) and machine learning (ML) for its supervisory functions.
- IndusInd Bank has launched a first-of-its-kind multi-branded credit card - ‘IndusInd Bank Avios Visa Infinite Credit Card’ for all customers, in partnership with British Airways Executive Club and Qatar Airways Privilege Club. This credit card aims to offer best-in-class rewards and benefits to customers, across travel, wellness and lifestyle experiences
- State-owned Bank of Maharashtra (BoM) has emerged as the top performer among public sector lenders in loan and deposit growth in percentage terms during the first quarter of the current financial year. The deposit and advances of the Pune-based lender recorded nearly 25 per cent rise, the highest by any public sector bank during the April-June quarter.
- Economy:
- The Reserve Bank of India (RBI) has issued fresh guidelines to the Regulated Entities (REs) such as commercial and other banks, Non-Banking Finance Companies (NBFCs) and other lenders to ensure reasonableness and transparency in disclosure of penal interest
- Moody’s Investors Service has affirmed India’s rating at the lowest investment grade of ‘Baa3’, with a stable outlook. Moody’s expects India’s economic growth to outpace all other G20 economies through at least the next two years, driven by domestic demand.
- World:
- Prime Minister Narendra Modi will be visiting Johannesburg, South Africa from August 22-24, 2023 to attend the 15th BRICS Summit at the invitation of H.E. Mr. Matamela Cyril Ramaphosa, President of the Republic of South Africa. This will be the first in-person BRICS Summit since 2019.
- Iran’s Foreign Minister Hossein Amir-Abdollahian met Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS) in Jeddah on Friday, August 18, 2023. This was the first visit to the kingdom since the Middle East rivals announced a surprise rapprochement.
- Sports:
- Indian Grandmaster R. Praggnanandhaa held the fancied American player Fabiano Caruana to a draw in the first game of their semifinal clash at the FIDE World Cup in Baku, Azerbaijan
- The Indian junior men’s hockey team defeated Spain 6-2 in their opening match at the 4-Nations Tournament in Dusseldorf, Germany.
- Appointments:
- Parminder Chopra has been appointed as the Chairman and Managing Director (CMD) of Power Finance Corporation Limited (PFC) by the Government of India with effect from August 14, 2023. She is the first woman to lead the company.
- The Reserve Bank of India (RBI) has approved the appointment of P. R. Seshadri as the Managing Director and CEO of the Thrissur based South Indian Bank. The appointment will be for a period of three years with effect from October 1.
Questions:
Q.1 Which bank has emerged as the top performer among public sector lenders in loan and deposit growth in percentage terms during the first quarter of the current financial year?a. Bank of Baroda
b. Bank of Maharashtra
c. UCO Bank
d. Indian Overseas Bank
Q.2 Who has been appointed as the new Managing Director and CEO of South Indian Bank?
a. P. R. Seshadri
b. R. K. Seshadri
c. P. R. Srinivasan
d. R. K. Srinivasan
