Daily Current Affairs 19 August 2023, Important News Headlines (Daily GK Update)

Read the most important current affairs of 19 August 2023. Today Current Affairs covers the headlines on Power Finance Corporation, South Indian Bank, World Photography Day 2023.

Top 13 Current Affairs and News Headlines of 19 August 2023

International News

1.Russian e-visa facility for Indians

• Russia has launched an e-visa facility for Indians from August 1, allowing travellers to the country to surpass the hassles of obtaining a regular visa. The e-visa facility, also available for travellers from 54 other countries, does not require a visit to consulates or embassies.
• One can apply for an e-visa online through the website of the Ministry of Foreign Affairs of Russia. The application must be submitted at least 40 days and no later than 4 days before the planned trip.
• You will need to provide a digital photo and a scan of the information page of your passport. The e-visa is valid for 60 days from the date of issue and allows you to stay in Russia for up to 16 days. The cost of the e-visa is 35 USD.

National News

2.India’s First 3D-Printed Post Office Inaugurated In Bengaluru

• Bengaluru, often hailed as nation’s tech capital, has welcomed the India’s first 3D-printed post office. Located in Cambridge Layout near Ulsoor, this post office has set a new benchmark for efficiency, sustainability, and design.
• The post office, encompassing an area of 1,021 square feet, was swiftly completed in just 43 days – a remarkable departure from the conventional construction period of around 10 months.
• This architectural marvel was brought to life through a collaboration between Larsen and Toubro, a prominent construction company, and technical guidance from the Indian Institute of Technology (IIT) Madras. The project, originally slated for completion in September of the previous year, saw its culmination in May 2023 at a cost of Rs 23 lakh.

3.CWC Launches ‘Floodwatch’ To Provide Real-Time Flood Forecasts To Public

• The Chairman, Central Water Commission (CWC), Shri Kushvinder Vohra, has taken a groundbreaking step towards enhancing flood preparedness and response by unveiling the “FloodWatch” mobile application.
• This revolutionary app is designed to harness the power of mobile phones to disseminate real-time flood-related information and forecasts to the public, up to 7 days in advance. The app, which offers both readable and audio broadcasts, is available in two languages, English and Hindi, making it accessible to a wider audience.
• FloodWatch” app stands out not only for its user-friendly interface but also for its advanced technological underpinnings. Leveraging cutting-edge technologies such as satellite data analysis, mathematical modeling, and real-time monitoring, the app delivers accurate and timely flood forecasts

Economy News

4.Crisil Forecasts 6% GDP Growth for India in FY24

• Crisil, a prominent rating agency, anticipates India’s gross domestic product (GDP) growth to reach 6% in the fiscal year 2024. This projection is lower than the 7% estimated by the National Statistical Organisation (NSO) for the fiscal year 2023.
• Crisil offers an optimistic medium-term outlook for the Indian economy. The agency foresees the economy maintaining an average growth rate of 6.8% over the next five fiscal years. This projection is driven by factors such as increased capital investment and productivity enhancements.
• Crisil expects a reduction in India’s external vulnerability, driven by a narrower current account deficit (CAD) and moderate short-term external debt.

Banking News

5.Axis Bank partners with RBI Innovation Hub to launch Kisan Credit cards

• In a significant partnership, Axis Bank has joined forces with the Reserve Bank Innovation Hub (RBIH), a subsidiary of the Reserve Bank of India (RBI), to introduce two groundbreaking lending products. These products are powered by the Public Tech Platform for Frictionless Credit (PTPFC), a pioneering initiative launched by RBIH.
• Kisan Credit Cards (KCC) for Agricultural Growth: Axis Bank is set to revolutionize agricultural financing by launching the Kisan Credit Card (KCC) through the PTPFC platform. Under this loan, Eligible customers will be able to access KCCs with a credit limit of up to Rs 1.6 lakh, empowering them to invest in their agricultural endeavors.
• Unsecured MSME Loans for Business Growth: Recognizing the importance of small businesses, Axis Bank is introducing unsecured loans through the PTPFC platform to bolster the growth of Micro, Small, and Medium Enterprises (MSMEs). Under this loan, Qualified customers will be eligible for loans of up to Rs 10 lakh, providing the financial boost required for their business expansion plans.

6.RBI Introduces UDGAM Portal: Your Guide to Reclaiming Unclaimed Deposits

• The Reserve Bank of India (RBI) has unveiled a groundbreaking solution for individuals seeking their unclaimed deposits. Named the UDGAM (Unclaimed Deposits – Gateway to Access Information) portal, this centralized web platform is designed to simplify the process of locating unclaimed deposits across various banks.
• The RBI’s UDGAM portal serves as a user-friendly tool for individuals to track down their unclaimed deposits seamlessly, consolidating information from multiple banks into a single accessible location.
• The UDGAM portal simplifies the process of identifying and claiming unclaimed deposits by streamlining the steps involved. RBI collaborated with Reserve Bank Information Technology Pvt Ltd (ReBIT), Indian Financial Technology & Allied Services (IFTAS), and select banks to develop this platform.

Schemes News

7.Maharashtra Government Launches Bhagwan Birsa Munda Jodaraste Scheme to Connect Tribal Villages with Main Roads

• The Maharashtra government has launched the Bhagwan Birsa Munda Jodaraste Scheme which aims to link all tribal villages in 17 districts of Maharashtra with main roads, effectively addressing the challenges faced by these communities in accessing essential services.
• The core objective of the scheme is to connect tribal sub-plan areas with primary health centers and ashramshalas (residential schools) through main roads. By bridging the connectivity gap, the scheme aims to eliminate challenges in providing fundamental facilities to tribal populations.
• The project is estimated at a cost of Rs 5,000 crore. Approximately 6,838 kilometers of roads will be constructed as part of the scheme, significantly expanding the road network and connecting remote tribal villages.

Agreements News

8.Trinidad And Tobago Inks Pact For Sharing Indian Technology Stack

• India and Trinidad and Tobago have recently entered into a significant partnership by signing a Memorandum of Understanding (MoU) to share the renowned INDIA STACK technology.
• INDIA STACK is an innovative assortment of technologies that encompass open APIs and digital public goods. Originating from India’s own successful experiences, this collection is tailored to facilitate identity verification, data management, and payment services.
• The adoption of India Stack not only enables countries to enhance their digitalization efforts but also empowers them to transform their economies and governance rapidly.

9.AICTE and Jio Institute FDP on Artificial Intelligence & Data Science

• The All India Council for Technical Education (AICTE) has taken a significant step towards advancing the integration of Artificial Intelligence (AI) and Data Science (DS) within the realm of education.
• Partnering with the renowned Jio Institute, AICTE has unveiled a comprehensive faculty development programme aimed at equipping academic leaders and senior faculty members with an in-depth understanding of AI and DS.
• With a diverse range of topics, the curriculum promises to provide a well-rounded understanding of AI and DS. The programme is designed to facilitate discussions and ensure that educators are not only well-versed in AI technologies but also equipped to handle their ethical dimensions responsibly.

Appointments News

10.Parminder Chopra appointed as CMD of Power Finance Corporation (PFC)

• Power Finance Corporation (PFC) has appointed Parminder Chopra as Chairman and Managing Director (CMD); she becomes the first woman to lead India’s largest NBFC. Chopra assumed the top job at the power sector lender with effect from August 14, 2023.
• She earlier held additional charge as CMD from June 1, and was Director (Finance) from July 1, 2020. She also played a key role in the successful implementation of a Rs 1.12 lakh crore Liquidity Infusion Scheme (LIS) for the power distribution sector, which was rolled out as part of the Atmanirbhar Bharat initiative.

11.PR Seshadri appointed new MD & CEO of South Indian Bank

• The Reserve Bank of India has approved the appointment of PR Seshadri as Managing Director & CEO of the South Indian Bank for a period of three years with effect from October 1, 2023. PR Seshadri is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies.
• He has significant experiences in enterprise level management and in the management of all key commercial banking business lines and he has substantial experience in successfully managing investors, boards and regulatory relationships in multiple geographies.

Important Days News

12.World Photography Day 2023: Date, Celebration, Significance and History

• World Photography Day, observed annually on August 19, marks the celebration of photography’s rich history and its role as both an art form and a scientific achievement. This day commemorates the invention of the daguerreotype, an early photographic process developed by Louis Daguerre in 1837, which paved the way for modern photography.
• World Photography Day commemorates the announcement of the daguerreotype process to the public on August 19, 1839, by the French Academy of Sciences. The daguerreotype process was one of the earliest methods of capturing permanent images on a light-sensitive surface.

Miscellaneous News

13.The G20 Film Festival kicked off with the screening of “Pather Panchali”

• The first G20 film festival, organized by the Ministry of External Affairs and India International Centre, commenced in Delhi with the screening of the renowned drama film “Pather Panchali” by Satyajit Ray.
• The distinguished veteran actor Victor Banerjee and G20 Sherpa Amitabh Kant graced the festival’s grand opening, symbolizing a significant stride towards nurturing cross-cultural comprehension through the medium of cinema.
•  The G20 film festival will span 17 days, culminating on September 3rd. The captivating journey will encompass 15 more exceptional films that have left an indelible mark on the global cinematic landscape.

Important Current Affairs of 19th August 2023

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