NATIONAL NEWS

Sri Lanka Hosts 'Karnataka Cultural Festival'

• Sri Lanka hosted the Karnataka Cultural Festival.

• This program is organized by the International Cultural Council of India, Swami Vivekananda Cultural Center, and M.E. Organized in association with the Global Peace Foundation.

• The festival featured a variety of performances from over 30 artists from Karnataka: traditional dances, folk music, multilingual poems, ballet, and puppet shows

• The focus was on highlighting the cultural heritage and heritage of Karnataka.

• The cast included lead artist Madhuri Bondre and her troupe.

World's First Ethanol-Powered Car Unveiled

• Union Minister Nitin Gadkari unveiled the world's first car that runs entirely on ethanol in New Delhi, marking a historic moment for India's energy landscape.

• The car is the first Stage-II BS-VI electrified flex-fuel vehicle, which runs entirely on ethanol as a fuel source.

• Currently, India's oil import bill stands at Rs 16 lakh crore, which highlights the need to curb this expenditure.

• Addressing environmental concerns, Minister Gadkari underlined the need for sustainable solutions, stressing that 40 percent of pollution is generated from the transport sector.

• Ethanol blending not only reduces pollution but also has the potential to increase India's agricultural growth by 12 to 20 percent, thereby creating several employment opportunities.

G20 One Health Workshop Inaugurated in Bengaluru

• Union Minister of State for Agriculture and Farmers Welfare Shobha Karandlaje inaugurated the G20 One Health Workshop in Bengaluru.

• The workshop focused on the theme ‘One Health - Opportunities and Challenges’.

• Representatives of G20 member states and invited countries are participating in the three-day event.

• India's G20 chairmanship is focused on the theme ‘One Earth, One Family, and One Future’.

• Its goal is to create a harmonious system for sharing knowledge, experience, and resources among nations.

• Its primary objective is to promote international financial stability and sustainable economic growth.

Foundation Stone for Central Tribal University in Andhra Pradesh

• The Union Government has proposed to start a Tribal University in the Parvatipuram Manyam district of the northern region of Andhra Pradesh.

• The Union Minister for Education and Skill Development Dharmendra Pradhan laid the foundation stone for the Central Tribal University at Saluru

• The central Tribal University will improve the educational standards in the northern region of Andhra Pradesh.

• The Union Minister also mentioned that the Central Tribal University has been located in the tribal area of Parvati Puram Manyam district which stands as a mark of the freedom fighter Alluri Sitaramaraju.

• The Tribal University is all set to offer 24 academic courses at Degree, short-term courses in skill development, vocational and job-oriented courses and promote the individual, cultural environmental development of the tribal population.

Government of Uttar Pradesh Launches ‘Manav Sampada Portal’

• The Uttar Pradesh (UP) Government introduced the ‘Manav Sampada Portal’ with the objective of instilling transparency and accountability in the functioning of officers and employees across all 74 departments in the state.

• To oversee these operations and manage the portal, a new division (Section-5) will be established within the Personnel Department, with the Project Management Unit (PMU) operating at the National Informatics Centre (NIC) level.

• The portal will offer detailed posting profiles of personnel, including factors like disabilities, spousal government employment, and serious illnesses.

• These details will be available with proper verification.

• Salaries of officers and employees will be disbursed based on accurate and validated data extracted from both the ‘Manav Sampada Portal’ and the DDO (Drawing & Disbursing Officer) Portal, ensuring precision and reducing discrepancies.

• The UP government mandated officers and employees to declare their movable and immovable assets on the website by December 2023.

INTERNATIONAL NEWS

6 New Nations Set to Join The BRICS

• The 15th BRICS summit was held from the 22 August to 24 August 2023 at the Sandton Convention Centre in South Africa.

• A major outcome of the BRICS Summit was the decision of the BRICS leaders to expand its membership to include 6 new members.

• These countries are – Iran, the United Arab Emirates, Saudi Arabia, Argentina, Egypt, and Ethiopia were set to enter BRICS from 2024, joining current members Brazil, Russia, India, China and South Africa to make an 11-nation bloc.

• This is significant as this move can strengthen BRICS’ claim of being a ‘voice of the Global South’.

• The announcement was made at the BRICS summit in Johannesburg by South African President Cyril Ramaphosa, whose country is the current BRICS chair.
• 6 of the world’s top 10 oil producers will now be members of the BRICS, including Saudi Arabia, Russia, China, UAE, Brazil and Iran.

BANKING

India’s Banking System Liquidity Slips into Deficit

• India’s banking system liquidity has slipped into deficit for the 1st time this financial year (2023) after the Reserve Bank of India’s temporary liquidity withdrawal move and tax outflows.

• As of August 2023, the liquidity of the Indian banking system was reported at Rs 236 billion ($2.84 billion), according to data provided by the Reserve Bank of India (RBI).

• This marked a significant departure from the scenario at the beginning of August 2023 when the banking system enjoyed a surplus liquidity of 2.8 trillion rupees.

• However, liquidity has been declining especially after RBI asked banks to hold an incremental cash reserve ratio (CRR) of 10% on an increase in deposits between May 19 and July 28, 2023.

• This has led to the withdrawal of over 1 trillion rupees.

• Liquidity in the banking system refers to readily available cash that banks need to meet short-term business and financial needs.

APPOINTMENTS & RESIGNATIONS

Tata Capital Appoints Shubman Gill as Its Brand Ambassador

• Tata Capital, a prominent financial services entity under the Tata Group, has announced the selection of Shubman Gill, a promising young cricket talent, as its brand ambassador.

• This strategic move highlights the alignment of Shubman Gill’s aspirational image with Tata Capital’s commitment to serving India’s diverse and dynamic youth population.
• Tata Capital is one of India’s largest Non-Banking Financial Company (NBFC) backed by a diverse range of lending and wealth management products and operating across customer segments.

SCIENCE & TECHNOLOGY

Aditya-L1 Space Observatory

• The Indian Space Research Organization (ISRO) is set to launch Aditya-L1, India's first space-based observatory designed to study the Sun.

• The launch is scheduled for 2 September 2023 at 11:50 a.m. from the Sriharikota Space Station in Andhra Pradesh.

• ISRO will use the Polar Satellite Launch Vehicle-C57 (PSLV-C57) for the Aditya L1 mission.

• The satellite will be placed in a halo orbit around the Lagrange point L1 within the Sun-Earth system, which is located approximately 1.5 million kilometers from Earth.

• The journey to reach the Lagrange point is estimated to take about four months.

• A major advantage of this halo orbit around the L1 point is that it provides an unobstructed view of solar activity, without interference from astronomical events such as eclipses.

• The primary objective of the Aditya L1 mission is to conduct a comprehensive study of the solar wind and the Sun's atmosphere.

DEFENCE

Iran Unveils Armed Drone Mohajer-10

• During a conference commemorating Defence Industry Day, Iran’s Defence Ministry unveiled its new domestically built drone named Mohajer-10, resembling America’s armed MQ-9 Reaper.

• “Mohajer” means “immigrant” in Farsi and has been a drone line manufactured by the Islamic Republic since 1985.

• The Mohajer-10 has enhanced capabilities like flying at a higher altitude, for a longer duration and the ability to carry a greater payload.

• The drone can fly up to a maximum duration of 24 hours at an altitude of 7,000 metres with an operational range of 2,000 kilometres.”

• The drone is able to fly up to 24,000 feet with a speed of 210 kph (130 mph), carrying a bomb payload of up to 300 kilograms (660 pounds), which is double the capacity of the “Mohajer-6″ drone.

• The drone is equipped to carry electronic surveillance equipment and a camera, enhancing its intelligence-gathering capabilities.

IMPORTANT DAYS

National Sports Day

• National Sports Day in India is celebrated every year on 29 August.

• The day commemorates the enduring legacy of Major Dhyan Chand, the great Indian hockey player.

• It serves as a tribute to the extraordinary achievements of athletes and their influence in shaping society.

• The theme for this year's National Sports Day celebrations is ‘Sports are an enabler to an inclusive and fit society’.

• People can participate in the celebration by using the hashtag #NationalSportsDay in their social media posts.

• The National Sports Day celebrated in India is based on the birth of Major Dhyan Chand, an eminent sports personality known for his hockey excellence.

OBITUTARY

English Poet Jayanta Mahapatra

• Renowned Indian English Poet, Jayant Mohapatra passed away at the age of 95.

• Initially, Mohapatra's career revolved around teaching physics, and in his late 30s, he developed a keen interest in English poetry.

• In 1971, he published his first collection titled'Swayamvar and Other Poems', a turning point that marked the beginning of his poetic journey.

• His notable work, 'Close the Sky Ten by Ten' played an important role in propelling him forward in the line of eminent writers in the literary world.

• In 1981, Jayant Mohapatra became the first English language writer to win the Sahitya Akademi Award for his book "Relationships".

• He received the Jacob Glatstein Memorial Award from Poetry Magazine, Chicago.

• He was awarded the SAARC Literary Award in New Delhi in 2009.

• Jayant Mohapatra was presented with the Tata Literature Lifetime Achievement Award.
• In 2009, he was awarded the Padma Shri and an honorary doctorate from Ravenshaw University.