Daily Current Affairs 5th August 2023

National News

SJVN has entered into an e-commerce MoU with Urja.

• The Satluj Jal Vidyut Nigam (SJVN) has entered into a power trading MoU with Sikkim Urja Company (SUL) in August 2023 to generate or distribute nearly 180 MW of hydropower from the 1,200 MW Teesta-III hydropower project.
• These renewable energy contracts are aimed at addressing the seasonal and regional variation in demand and supply and meeting the power supply requirement of the state. It is significant that this initiative is the first attempt of SJVN in the state of Sikkim.

In a historic initiative, the Prime Minister will lay the foundation stone of a plan to redevelop 508 railway stations across the country on August 6.

• In a historic initiative, Prime Minister Modi is scheduled to lay the foundation stone for the development and remodeling of 508 railway stations across the country (India) on August 6 at 11 am.
• It was launched under the “Amrit Bharat Station Scheme” to redevelop 1309 railway stations across the country. Also, as part of this project, 508 railway stations will be redesigned at a cost of Rs 24,470 crore, the Union Ministry said.

India participates in Ukraine Russia peace talks – Saudi Arabia

• India has been invited to mediate the Russia-Ukraine conflict peace talks to be held on August 5 and 6 under the leadership of Saudi Arabia.
• The Foreign Secretary stated that India will always support efforts to resolve the recent crisis in Ukraine through peace talks and it is significant that Russia has been excluded from this general meeting.

Israel joins project to resolve India’s water-related issues

• The Circle, a business development company, Founders Club (FC), is planning an initiative called “The Water Challenge” in the country of Israel in August 2023 to address water-related issues, one of the most pressing issues affecting the public in India.
• The project was formally launched on August 03 with the signing of a Memorandum of Understanding between the Ambassador of Israel in India and Karanpal Singh, founder of The Circle, said the Ambassador of Israel.
• The project aims to address challenges in water technologies and water resources management in India.

The Indian Air Force (IAF) has acquired Israeli NLOS anti-aircraft guided missiles.

• In August 2023, the Indian Air Force acquired Israel’s “Spike Non-Line of Sight (NLOS)” guided missiles capable of pinpointing enemy artillery hidden behind rugged mountains.
• The missile is said to be capable of accurately hitting targets at a distance of 30 km. The Indian Army has also said that this missile will be used in the army in combination with Mi-17V5 helicopters of Russian origin.

Union Minister Sagar Setu launched “Port Health Organization (PHO)” under the scheme.

• Union Minister of Ports and Shipping(MoPSW) Shri Sarbananda Sonowal has launched the “Port Health Organization (PHO)” module under Sagar Setu – National Logistics Websites (Maritime) scheme in August 2023.
• The Union Minister said that this PHO system has been designed with the aim of protecting the citizens and port-based personnel and to carry out disease surveillance, health inspection and quarantine measures for them quickly during critical periods.

International news

Pakistan and Iran are working on a policy plan worth USD 5 billion.

• Pakistan and Iran have formulated a five-year trade cooperation policy plan with a trade target of nearly USD 5 billion and released it in August 2023.
• Pakistan’s Foreign Minister Bilawal Bhutto said the five-year plan aims to remove economic barriers in bilateral trade between the two countries, ensure a free trade agreement and promote corporate linkages between the respective private sectors.

State news

The Union Home Minister has launched the National Highway Project in Bhubaneswar.

• Union Home Minister Amit Shah inaugurated the New National Highway Project in Bhubaneswar, the capital of Odisha state on August 04.
• The program will be part of the two-day visit of the Union Home Minister to the state of Odisha. Also attending a meeting on Disaster Management and Left Wing Extremism (LWE) is seen as important in this trip.

The Jharkhand State Assembly has passed a bill to prevent malpractices in government competitive examinations.

• The Jharkhand State Assembly has passed the State Government Competitive Examination (Measure to Control and Prevent Use of Unfair Means in Recruitment) Bill, 2023 on August 03, 2023.
• The state government has also announced that those involved in these types of frauds will face a fine of at least ₹10 crore and life imprisonment.

Appointments

Union AMC has announced the appointment of Harshad as Chief Investment Officer (CIO).

• In its latest announcement, Union AMC has appointed Harshad Patvardhan as the company’s Chief Investment Officer (CIO).
• Notably, from 2006 to 2016, he served as the CIO of JP Morgan (JPM), an asset management services firm, Equities India. Union AMC CEO G Pradeep Kumar said that he is expected to improve the company with his outstanding personality.

Nirbhaya Mishra – Vehere has been appointed Director of Corporate Development.

• Vehere, a leading cyber security company specializing in network security, has appointed Nirbhaya Kishore Mishra as Managing Director of its Corporate Division with effect from August 2023.
• With more than 25 years of corporate experience in various industries, he will enhance the company through his outstanding leadership efforts.

Science and Technology

Firstsource plans to launch the FirstSenseAI platform.

• FirstSource Solutions, a global provider of business process services, has announced the launch of a new artificial intelligence platform, FirstSenseAI, in August 2023.
• With the ability to understand and respond to a customer’s exact needs within seconds, this AI is designed to improve process efficiency while enhancing the overall customer experience and technology experience, he said.

Sports news

Kapil Sonowal has won bronze at the 2023 Asian Youth and Junior Weightlifting Championships.

• Indian sports star Kapil Sonowal set a record by winning a bronze medal in the 102 kg category at the Asian Youth and Junior Weightlifting Championships on August 03.
• Notably, the 16-year-old lifted a total of 276 kg (i.e. 125 kg + 151 kg) to reach the podium.

South Zone beat East Zone by 45 runs to win the “Deodhar Cup”.

• The South Zone juggernaut won the championship trophy for the ninth time after defeating East Zone by 45 runs in the final of the Deodhar Cup series held on August 03.
• Professor D.P. The Deodhar Trophy is a Category A domestic cricket tournament in India. Also this series is a cricket series which was introduced as an inter-zonal (zonal division) competition in 1973-74 and has been played till date.

17-year-old D Gukesh has overtaken chess legend Vishwanatha Anand to become India’s top-ranked chess player.

• 17-year-old D Gukesh from Tamil Nadu became India’s first chess player in the live World Chess Series rankings, breaking the 37-year reign of Grandmaster and chess legend Vishwanatha Anand last August 03.
• At the FIDE World Cup in Baku, Azerbaijan, Anand dropped to tenth place with a score of 2754.0 to move up to 9th in the world in the Classic Open category with a direct score of 2755.9.
• It is notable that Anand has only slipped to the second position in this world ranking twice since 1986. He became the “Third Indian” to enter the world’s top 10 after Bendala Harikrishna and Anand.

Economic news

India to grow at 6.7% per annum over next eight years – S&P Global Report

• International research and analysis firm S&P Global in its latest report has projected India to grow at 6.7% per annum over the next eight fiscal years and increase its GDP from $3.4 trillion to $6.7 trillion from fiscal 2024 to fiscal 2031.
• India’s per capita GDP is likely to rise to around $4,500 this fiscal, the company said in the report. It is significant that the report was released under the title “Forward: India’s Moment”.

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