Current Affairs is the most important area in all competitive exams. But the difficulty level is very high. That’s why; many aspirants get confused, how to select Current Affairs for Preparation of Competitive Examination? In this Post, Daily Current Affairs 18 August 2023, we have tried to cover each and every point and also included all important facts from National/ International news that are useful for upcoming competitive examinations such as UPSC, SSC, Railway, State Govt. etc.
So, here is the Top News of the Day for 18 August 2023 to help you prepare the Latest Current Affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.
Current Affairs for Competitive Exam – 18 August 2023
Canara Bank has introduced Canara Jeevan Dhara savings bank account
Canara Bank has introduced Jeevan Dhara, a special savings bank account for pensioners, and prospective pensioners. The primary benefit of this account for senior citizens is that it is a zero-balance savings account.
Daily Current Affairs Quiz: August 2023
With this savings account, senior citizens do not have to maintain a minimum balance and there are no maintenance charges. The interest rate per annum is 4% for deposits for senior citizens holding the Canara Jeevan Dhara Savings account.
Key Features and Benefits:
1. Interest Rates and Variants: Canara Jeevan Dhara offers two account variants based on the pension credit:
- Diamonds Account: Tailored for individuals with pension credits up to Rs 50,000.
- Platinum Account: Designed for those with pension credits exceeding Rs 50,000.
The account carries interest rates aligned with regular savings accounts, ranging from 2.90% to 4%, contingent on the account balance. This balance-based interest structure ensures a competitive rate of return for retirees’ funds.
2. Enhanced Interest Rates on Savings: Canara Bank provides an enhanced interest rate structure on savings account balances:
- 2.90%: Balances less than Rs. 50 lakh and between Rs. 50 lakh to less than Rs. 5 crore.
- 2.95%: Balances between Rs. 5 crore to less than Rs. 10 crore.
- 3.05%: Balances between Rs. 10 crore to less than Rs. 100 crore.
3. Loan Facilities: Loan Against Deposit: Senior citizens can avail of loans with interest rates 0.75% above the deposit rate, providing a convenient borrowing option backed by their deposits.
Top Up Facility: The account offers an exclusive top-up facility on pension loans, granting additional financial flexibility to pensioners.
4. Healthcare Concessions: Canara Jeevan Dhara customers receive up to a 25% concession on medical expenses, prioritizing their healthcare needs and well-being.
5. Fixed Deposit Interest Rates: Canara Bank offers attractive Fixed Deposit (FD) interest rates spanning various tenures:
- FDs ranging from 7 days to 10 years with interest rates between 4% and 7.25% for the general public.
- Senior citizens enjoy higher interest rates, ranging from 4% to 7.75%.
Government clears Rs 20000 crore deal to build five warships
The government has cleared a Rs 20,000 crore deal to manufacture fleet support vessels (FSVs) which are urgently required by the Indian Navy in August 2023.
Daily Current Affairs Quiz: August 2023
Vizag-based Hindustan Shipyard Limited will manufacture five of the 45,000-tonne warships, the largest ship of its class being built at the defense ministry-owned yard.
The ships are needed to support warships on long range patrol and can carry a variety of equipment, such as fuel, ammunition and food supplies.
ADB approves USD 40.5 mln loan for childhood development in Meghalaya
The Asian Development Bank has approved a USD 40.5 million loan for integrated early childhood development and maternal mental health in Meghalaya. The Meghalaya government is contributing USD 15.27 million to the project.
Daily Current Affairs Quiz: August 2023
Aims: To improve access to nurturing care, including a component of maternal mental health care to enable the inclusion of fathers in caregiving.
Objective: To strengthen home-based childcare and center-based childcare through daycare centers.
Project Overview:
- Holistic Early Childhood Development: The primary focus of the project is to bolster the holistic development of children aged 0 to 6 years. Recognizing the crucial role of the initial 1,000 days in a child’s growth, the project emphasizes the significance of providing nurturing care and adequate nutrition during this critical period.
- Maternal Mental Health Care: The initiative places a strong emphasis on maternal mental health, acknowledging the pivotal role that mothers play in the development of their children. By offering comprehensive maternal mental health services, the project aims to ensure that mothers receive the essential support and healthcare they require.
- Inclusive Parenting Programs: The project includes group-based parenting programs designed to actively involve fathers in caregiving. This approach not only promotes a more inclusive parenting dynamic but also encourages fathers to actively participate in their child’s growth and development.
- Enhancing Nutrient Adequacy: Recognizing the importance of proper nutrition during the early years, the project incorporates the addition of eggs to the diet of pregnant and lactating women, as well as children aged 0.5 to 6 years. This measure is intended to enhance nutrient adequacy and support optimal growth.
- Infrastructure Development: The ADB-backed project encompasses the upgrading of 1,800 existing Anganwadi centers, coupled with the construction of approximately 600 new centers. These centers will be strategically located in hard-to-reach areas, ensuring that even marginalized communities can benefit from the initiative.
- Scalable Design: ADB’s commitment extends beyond Meghalaya, with a focus on creating a project design that is innovative and scalable. The intention is to serve as a blueprint that can be adopted and expanded across the country to address similar developmental challenges.
Goa govt launches ‘Gramin Mitra’ scheme to promote digital empowerment
Goa Chief Minister Pramod Sawant launched the flagship scheme “Gramin Mitra” in August 2023.
Objective: To provide doorstep delivery of government services across the state and promote digital empowerment in rural areas.
Daily Current Affairs Quiz: August 2023
Aims: To empower rural communities with access to information and opportunities that can transform their lives and drive socio-economic growth.
The program will help us accelerate the delivery of e-governance services to rural areas across the state. State Minister for Information Technology, Electronics and Communication Rohan Khaunte, Union Minister Shripad Naik, Rajya Sabha MP Sadanand Shet Tanavade were present on the occasion.
The launch of the “Gramin Mitra” initiative marks a significant step towards bridging the divide between rural and urban Goa, Sawant said.
Agnikul Cosmos begins integration of its first satellite rocket
Agnikul Cosmos, based in Chennai, has begun the integration of its ground-breaking launch vehicle, Agnibaan SOrTeD (Sub-Orbital Technological Demonstrator), with its private launchpad at the Satish Dhawan Space Centre in Sriharikota. While the exact launch date remains undisclosed, the recent event marks a pivotal milestone in Agnikul Cosmos’s pursuit of space innovation.
Daily Current Affairs Quiz: August 2023
The Ingenious Agnibaan SOrTeD Launch Vehicle
- The Agnilet engine, a technological marvel, is a single-piece, 3D-printed, 6 kN semi-cryogenic engine. This innovative propulsion system marks a departure from conventional rocket engines and showcases Agnikul Cosmos’s commitment to pushing the boundaries of space technology.
- Unlike traditional sounding rockets that follow guide rails during launch, the Agnibaan SOrTeD will ascend vertically and meticulously follow a predetermined trajectory. The launch vehicle will undertake a highly orchestrated sequence of manoeuvres during its flight, a series of events methodically planned to validate key technologies critical to the success of the company’s next orbital flights.
- Distinguished by its revolutionary features and propelled by Agnikul’s proprietary Agnilet engine, this single-stage launch vehicle is set to redefine space travel.
About AgniKul Cosmos Private Limited
AgniKul Cosmos Private Limited, an Indian aerospace manufacturer headquartered at the National Center for Combustion R&D of IIT Madras in Chennai, emerges as a pioneering space technology start-up. AgniKul Cosmos, founded in 2017 with a clear purpose, seeks to develop and launch its own small-lift launch vehicle, illustrated by the Agnibaan model, capable of deploying payloads weighing up to 100 kg into 700 km orbits. The company is deeply committed to transforming space accessibility through its cutting-edge innovations.
Key takeaways for competitive examination
- CEO of AgniKul Cosmos Private Limited: Srinath Ravichandran
Cabinet approves seven rail projects worth ₹32,500 crore to boost connectivity
The Union Cabinet, led by Prime Minister Narendra Modi, has approved seven major railway projects totaling 32,500 crore in expenditure. These projects, announced by Union Railway Minister Ashwini Vaishnaw, are set to revolutionize Indian Railways’ efficiency and capacity through transformative initiatives. The projects, adopting the Engineering, Procurement, and Construction (EPC) model, are expected to usher in a new era of connectivity and accessibility across various regions.
Daily Current Affairs Quiz: August 2023
Unveiling the Transformation
Union Railway Minister Ashwini Vaishnaw, in a recent briefing, unveiled the strategic significance and anticipated impact of the seven multi-tracking projects. Vaishnaw emphasised the interconnected nature of these projects, framing them as catalysts for the modernization of Indian Railways, emphasising a holistic perspective.
Enhancing Connectivity and Accessibility
The total length of the projects is estimated to be 2,339 km, effectively increasing the existing rail network. This expansion will play a pivotal role in bolstering connectivity and accessibility, enabling smoother transportation across 35 districts in states including Andhra Pradesh, Bihar, Gujarat, Jharkhand, Maharashtra, Odisha, Telangana, Uttar Pradesh, and West Bengal.
Relieving Congestion and Boosting Efficiency
Beyond mere expansion, the projects are geared toward alleviating congestion and elevating operational efficiency within the rail system. The focus on increasing freight capacity has the ability to absorb an additional 200 million tonnes of freight traffic each year.
Central Government’s Wholehearted Funding
An outstanding feature of these initiatives is the complete funding provided by the central government, reflecting a steadfast commitment to revitalizing the nation’s rail infrastructure. This financial backing underscores the government’s dedication to ensuring the success of these transformational projects.
Catalysts for Employment Generation
The impact of these projects extends beyond infrastructure improvements. With an eye on employment generation, the initiatives are set to create approximately 7.06 crore person-days of work, benefiting residents in the states where the projects are being executed. These projects include vital routes for carrying a wide range of goods, including food grains, fertilisers, coal, cement, iron and steel, and others.
Key Projects and Their Significance
- Gorakhpur-Cantt-Valmiki Nagar Doubling: Enhancing connectivity for a critical transportation route.
- Son Nagar-Andal Multi Tracking: Boosting efficiency through multi-tracking technology.
- Nergundi-Barang Third Line: Addressing congestion and enhancing operational flow.
- Khurda Road-Vizianagaram Third Line: Expanding capacity for smoother transportation.
- Mudkhed-Medchal and Mahbubnagar-Dhone Doubling: Unlocking potential for increased freight movement.
- Guntur-Bibinagar Doubling: Strengthening transportation infrastructure for varied commodities.
- Chopan-Chunar Doubling and Samakhiali-Gandhidham Quadrupling: Streamlining transportation for diverse goods.
India accounts for 35% of cargo handled by Murmansk port this year
India’s collaboration with Russia’s Arctic region is on the rise, evidenced by its substantial contribution to cargo handled at Murmansk port. This vital port, located roughly 2,000 kilometres northwest of Moscow, serves as a crucial northern gateway for Russia, handling a total of eight million tonnes of cargo in the first seven months of 2023. Notably, India’s share accounted for 35% of this cargo, primarily consisting of coal destined for the eastern coast of India.
Daily Current Affairs Quiz: August 2023
India’s Dominant Role in Cargo Handling:
India emerges as a significant player in the cargo operations of Murmansk port, responsible for 35% of the handled cargo. This impressive figure underscores India’s economic and trade connections with the Arctic region.
Strengthening Arctic Maritime Routes:
India’s engagement extends to the Northern Sea Route (NSR), a crucial shipping pathway connecting the Asia-Pacific region and western Eurasia. The NSR offers a shorter route than traditional alternatives, enhancing the efficiency and safety of maritime transport.
Navigational Challenges and Icebreaking:
Navigating the NSR comes with challenges, including icebound Arctic seas for a substantial part of the year. FSUE Atomflot, a Rosatom company that runs nuclear-powered icebreakers, plays a key role in maintaining a functional route.
NSR: An Alternative to Suez Canal?
While not a direct alternative to the Suez Canal, the NSR reduces the geographical gap between Europe and the Asia-Pacific region. This shorter route offers significant potential for decreasing the carbon footprint of maritime transport due to nuclear-powered icebreakers and enhanced navigation efficiency.
India-Russia Collaborative Maritime Initiatives:
India and Russia are exploring collaborative initiatives for the development of the NSR. A proposal to establish a sea corridor linking Chennai and Vladivostok is under consideration. This corridor attempts to improve international container transit via the NSR by incorporating a logistics hub in Vladivostok and ship-to-ship transshipment to improve delivery times and route profitability.
Chandrayaan-3 Landing Date Scheduled on August 23, 2023
The Indian Space Research Organisation (ISRO) has stated that Chandrayaan-3 would settle on the Moon on August 23, 2023. The spacecraft launched on July 14, 2023, and has been orbiting the moon since August 5, 2023. The Chandrayaan-3 mission is India’s third lunar mission, and its goal is to soft-land a lander and rover on the Moon’s south pole. The lander, named Vikram, will be carrying the rover, named Pragyan.
Daily Current Affairs Quiz: August 2023
The south pole of the Moon is a region that has not been extensively explored by previous missions. It is believed to be rich in water ice, which could be a valuable resource for future human exploration of the Moon. The Chandrayaan-3 landing will be difficult because the Moon’s south pole is a mountainous region with many craters. ISRO, on the other hand, is sure that the mission would be successful.
Chandrayaan-3 to Join Growing List of Lunar Missions
The Chandrayaan-3 landing will be the latest in a series of lunar missions in recent years. In 2019, China landed the Chang’e 4 probe on the far side of the Moon. The US landed the Perseverance rover on Mars in 2021, and it is now exploring the Jezero crater. The arrival of Russia’s Luna-25 mission, which is slated to settle on the Moon’s south pole in August 2023, will also coincide with the arrival of Chandrayaan-3.
The growing number of lunar missions is a sign of the growing interest in lunar exploration. The Moon is a potentially valuable resource for future human exploration, and it is also a key stepping stone to Mars.
Chandrayaan-3 to Help India Become a Spacefaring Nation
The Chandrayaan-3 landing is a major milestone for India’s space program. It will be India’s third lunar mission, and its first soft landing on the Moon. The success of the Chandrayaan-3 mission will help India to become a spacefaring nation. It will also help to boost India’s scientific and technological prowess. The Chandrayaan-3 mission is a testament to the hard work and dedication of the ISRO team. It is a glorious moment for India, and it heralds the beginning of great things.
10-day Long Budha Amarnath Yatra Begins In Jammu
In a display of grandeur and deep religious devotion, the Jammu and Kashmir administration inaugurated the yearly Budha Amarnath Yatra across the rolling terrains of Poonch district. The trip, which lasts 10 days, is a life-changing experience for worshippers seeking Lord Shiva’s blessings.
Daily Current Affairs Quiz: August 2023
Budha Amarnath Yatra:
The Budha Amarnath Yatra acts as a gathering point for devotees originating from various corners of India, serving as a representation of the country’s diverse and harmoniously intertwined spiritual tapestry. The programme welcomes pilgrims from all areas of life, developing a sense of purpose and solidarity among them.
Stringent security measures have been thoughtfully implemented across the Rajouri and Poonch districts, meticulously designed to safeguard pilgrims and ensure an undisturbed pilgrimage journey. Every conceivable precaution has been taken by the authorities to forestall any adverse incidents, culminating in a serene and incident-free yatra. Moreover, comprehensive arrangements for accommodation and boarding have been scrupulously orchestrated, guaranteeing a comfortable sojourn for the pilgrims.
Budha Amarnath Temple: A Shrine of Centuries-old Reverence
The centerpiece of the Budha Amarnath Yatra is the revered Budha Amarnath Temple, nestled in the Rajpura village of Mandi tehsil in Poonch. This ancient Shiva temple has significant historical and spiritual significance. It is among the oldest shrines in the Jammu region, drawing throngs of devotees each year during the yatra. The magical allure of the temple is reinforced by its proximity to the sacred River Pulsata. Pilgrims believe in the holiness of the ceremony and take a cleaning dip in the river before travelling to the temple. The pilgrimage culminates with the arrival of the ‘Charri Mubarak‘ (holy mace) at the shrine from Dashnami Akhara Poonch, marking the completion of the yatra.
Kamlesh Varshney, Amarjeet Singh appointed SEBI whole-time members
Kamlesh Varshney and Amarjeet Singh have been appointed as SEBI Whole-Time Members by the Cabinet Appointments Committee (ACC). While Varshney, a 1990-batch officer of the Indian Revenue Service, is a joint secretary at the revenue department in the Finance Ministry, Singh is an executive director at the Securities and Exchange Board of India (SEBI).
Daily Current Affairs Quiz: August 2023
According to an order issued by the ACC Secretariat, both Varshney and Singh have been appointed for three years from the date of assumption of charge or until further orders, whichever is earlier. At SEBI, Varshney and Singh will fill in the vacancies created by the retirement of S K Mohanty and Ananta Barua.
All about the Securities and Exchange Board of India (SEBI)
The Securities and Exchange Board of India (SEBI) is the regulator of the securities market in India. It was established in 1992 by the Government of India to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith and incidental thereto.
SEBI has a wide range of powers and functions, including:
- Registering and regulating stock exchanges
- Regulating the activities of brokers, sub-brokers, and other intermediaries
- Monitoring the securities market for any irregularities or malpractices
- Taking action against those who violate the securities laws
- Educating investors about the securities market
SEBI is a statutory body and its headquarters are in Mumbai, Maharashtra. It has regional offices in all major Indian cities. SEBI has played an important role in the growth of the Indian securities market. It has helped to create a more transparent and orderly market, and has protected the interests of investors.
Here are some of the key achievements of SEBI:
- Increased investor awareness about the securities market
- Brought down the number of fraudulent and manipulative activities in the market
- Improved the corporate governance practices of listed companies
- Promoted the development of new products and services in the securities market
SEBI is committed to making the Indian securities market one of the most vibrant and efficient in the world. It is working towards this goal by continuously reviewing and updating the securities laws, and by taking action against those who violate the law.
‘Lakhpati Didi’ Scheme: Govt Planning Skill Training For 2 Crore Women
The Indian government has unveiled the ‘Lakhpati Didi’ scheme, which aims to provide vocational training to two crore women across the country in a significant move to empower women and stimulate economic growth. The scheme, previously implemented in select states, now seeks to expand its reach and impact on a national scale.
Daily Current Affairs Quiz: August 2023
‘Lakhpati Didi’ Scheme: Prime Minister’s Vision:
During his recent Independence Day address, Prime Minister Narendra Modi outlined his ambitious vision of cultivating two crore ‘lakhpati didis’ (women millionaires) in rural areas. He emphasised the importance of women’s economic status by highlighting the roles of ‘bank-wali didi’ (banking sisters), ‘Anganwadi didi’ (childcare sisters), and ‘dawai-wali didi’ (medical sisters).
‘Lakhpati Didi’ Scheme: Skill Development and Micro-Enterprises:
The ‘Lakhpati Didi’ scheme is designed to empower women by equipping them with essential skills that pave the way for the establishment of micro-enterprises. According to a senior official, the scheme’s main goal is to teach two million women, encouraging them to start and manage small businesses.
‘Lakhpati Didi’ Scheme: Diverse Skill Training:
Under the scheme, women will undergo training in a range of practical skills that align with emerging industry demands. These skills include plumbing, LED bulb manufacturing, and the operation and repair of drones, among others. This diversified training approach ensures that women can tap into various sectors and explore entrepreneurial opportunities.
‘Lakhpati Didi’ Scheme: Empowering Women in STEM:
Prime Minister Modi emphasised a remarkable trend in which women are outperforming their male colleagues in STEM (Science, Technology, Engineering, and Mathematics) disciplines. He stressed the significance of this trend and emphasized that the G-20 has acknowledged India’s commendable focus on women-driven development.
Safety and Dignity:
While advocating women’s empowerment, the Prime Minister also prioritized their safety and dignity. He asserted that safeguarding daughters from any form of atrocity is a collective responsibility that every citizen must uphold.
OpenAI’s first acquisition is an AI design company
OpenAI has successfully acquired Global Illumination, an ingenious startup based in New York, which harnesses the power of AI to craft innovative creative tools, digital experiences, and robust infrastructure. The acquisition signals OpenAI’s commitment to amplify its capabilities and revolutionize the AI landscape.
Daily Current Affairs Quiz: August 2023
Global Illumination: Pioneering Creativity through AI
Founded in the year 2021 by the dynamic trio of Thomas Dimson, Taylor Gordon, and Joey Flynn, Global Illumination has swiftly carved a niche for itself in the tech realm. The startup’s impressive portfolio includes products designed for tech titans such as Instagram, Facebook, YouTube, Google, Pixar, and Riot Games. The endorsement of venture capital heavyweights such as Paradigm, Benchmark, and Slow further underscores the startup’s profound potential.
About OpenAI
OpenAI, an AI research laboratory based in the United States, is dedicated to the advancement of artificial intelligence. Its primary goal is to develop artificial general intelligence that is not only proficient but also safe and beneficial. OpenAI was formed in 2015 with the goal of pushing the boundaries of AI research. One of its most prominent achievements is the creation of ChatGPT, a groundbreaking chatbot introduced in November 2022. The company’s extraordinary financial backing, enabled by significant support from industry giant Microsoft and influential venture capital entities, not only enables the enhancement of its current offerings but also propels it to forge ahead, pushing the frontiers of AI and maintaining its leadership role in the dynamic and constantly evolving AI landscape.
Elevating Expertise Through Strategic Acquisition: OpenAI’s Vision for Growth
- The acquisition of Global Illumination appears to be a strategic move aimed at augmenting OpenAI’s internal product knowledge.
- This enhanced expertise holds the potential to be applied across various domains, from the creation of cutting-edge applications to providing improved tools and APIs for OpenAI’s extensive community of developers, facilitating the development of applications atop OpenAI products.
Key takeaways for competitive examination
- CEO of OpenAI: Sam Altman
Cabinet Approves ₹14,903 Crore Extension of Digital India Project: Its Objectives and Allocations
In a significant development, the cabinet has given its nod to the extension of the Digital India project, allocating a substantial budget of ₹14,903 crore. Union Minister Ashwini Vaishnaw made the announcement, emphasising that the expanded project will build on the successes of its previous iteration.
Daily Current Affairs Quiz: August 2023
Key Objectives and Allocations
Under the ambit of this extended Digital India project, several crucial objectives have been outlined, each aimed at bolstering India’s technological capabilities:
- IT Professional Upskilling: A significant amount of the monies given will be used to reskill and upskill around 5.25 lakh IT professionals. This effort is intended to enhance the digital proficiency of the workforce.
- IT Training: An equally important focus area is the training of around 2.65 lakh individuals in the field of information technology, equipping them with valuable skills for the digital age.
- Expansion of Supercomputing Infrastructure: As a part of the National Supercomputing Mission, the extension plan includes the addition of nine more supercomputers. This move is set to amplify India’s computational capabilities, contributing to scientific research and innovation.
- Digital Empowerment for Enterprises: The Digilocker app’s benefits will be extended to micro, small, and medium enterprises as part of the Digital India programme. By leveraging this app, these enterprises can conveniently access credit and other services, with their documents securely stored and verified.
- Information Security Training: Around 2.65 lakh individuals will receive training in information security through the Information Security and Education Awareness Phase (ISEA) Programme. This initiative is crucial in the age of increasing cyber threats.
- Cyber Awareness for Students: Conducting cyber awareness classes for a whopping 12 crore college students is a huge step forward in the programme. This educational effort aims to equip the younger generation with the knowledge and skills to navigate the digital world safely.
- Enhancement of Cyber Forensics: The expansion of CertIn, which specializes in cyber forensics, emergency response, and cyber diagnosis, is also on the cards. This expansion will bolster India’s capabilities in handling cyber threats effectively.
- Strengthening National Knowledge Network: The National Knowledge Network, which now connects 1,787 universities and research institutes, would be upgraded to Digital India Infoways category. This move will foster collaboration and information exchange among academia and research.
- AI Center of Excellence: Acknowledging the significance of artificial intelligence, a center of excellence in this field will be established. This center will explore AI applications in critical sectors such as agriculture, health, and sustainability.
- Cyber Security Advancements: The extended project includes initiatives to enhance cyber security, including tool development and integration of over 200 sites with the National Cyber Coordination Centre.
- Startup Support in Tier 2 and 3 Cities: Encouraging entrepreneurship, the project has provisions for funding assistance to 1,200 startups based in tier 2 and 3 cities. This move aims to foster innovation in regions beyond major urban centers.
Building upon Success
The extension of the Digital India project with a substantial budget demonstrates the government’s commitment to advancing India’s digital landscape. By addressing critical areas such as upskilling, cybersecurity, and technology accessibility, this initiative is poised to make a significant impact on the nation’s technological evolution.
