Current Affairs 12th September

 

National Affairs

1. India, Bangladesh Sign 3 MoUs To Strengthen Bilateral Cooperation

Three Memorandums of Understanding (MoUs) were exchanged between Prime Minister Narendra Modi and Sheikh Hasina, Prime Minister of the People’s Republic of Bangladesh, to strengthen bilateral cooperation between India and Bangladesh.

 

The 3 MoUs were,

 

MoU on Participation in Advanced Installment components between Public Installments

Partnership of India (NPCI) and Bangladesh Bank.

 

An agreement to extend the Cultural Exchange Program (CEP) between India and Bangladesh for the years 2023 and 2025.

 

Agreement between the Bangladesh Agriculture Research Council (BARC) and the Indian Council of Agricultural Research (ICAR).

 

Following the bilateral meeting between PM Modi and PM Hasina, the MoUs were exchanged.

 

Meeting between India and Bangladesh:

 

PM Modi met with Bangladeshi Prime Minister Sheikh Hasina, who was in India as a guest to attend the G-20 Leaders Summit on September 9-10, 2023, in New Delhi, Delhi.

 

They talked about the entire scope of bilateral cooperation during the meeting, including cooperation in politics and security, power and energy, and ties between people.

 

The MoUs’ particulars:

 

MoU on Collaboration in Computerized Installment components between Public Installments Company of India (NPCI) and national bank of ‘Bangladesh Bank’.

 

The extent of the MoU is issuance of RuPay Pre-loaded Card from Bangladesh, laying out

acknowledgment of RuPay Card in Bangladesh at ATM and business exchanges, cross

line settlement, empowering acknowledgment of Brought together Installment Point of interaction (UPI) through Speedy Reaction (QR) code in Bangladesh at Shipper areas.

 

MoU on restoration of the Social Trade Program (CEP) for 2023-2025. This aims to hold cultural events to improve cooperation in fields like archaeology, youth affairs, sports, and mass media, among others.

 

For a period of two weeks, academics in the fields of literature, art, and culture from both nations will exchange visits. CEP was at first endorsed between the two nations in 2015; Ultimately reestablished in 2019 for the residency 2021-23.

 

Agreement between the Bangladesh Agriculture Research Council (BARC) and the Indian Council of Agricultural Research (ICAR).

 

The arrangement helps collaboration in horticultural exploration and schooling conceives

trade of researchers, logical hardware, logical literature,germplasm and reproducing

Material. Work Plans with a duration of two years will be created in order to implement the MoU.

 

It likewise incorporates the development of a Joint Working Gathering of the two countries, which will meet when like clockwork in New Delhi and Dhaka in Bangladesh.

2. Odisha’s Koraput Kalajeera Rice Gets GI Tag

Odisha’s “Koraput Kalajeera Rice,” also known as the “Prince of Rice,” has been granted Geographical Indication (GI) tags by the Geographical Indications Registry in Chennai (Tamil Nadu).

 

Over the course of many generations, the farmers and tribes of the Koraput district in Odisha have only ever grown kalajeera rice.

 

Topographical Sign Library capabilities under the Division of Advancement of Industry and Inner Exchange (DPIIT), Service of Trade and Industry(MoCI).

 

Application Subtleties:

 

Koraput Kalajeera Rice(Class 30 – Rice) was sorted as ‘Agribusiness’ under Merchandise.

 

Jaivik Sri Farmers Producer Company Limited of Odisha submitted the application, which was made possible by the Department of Agriculture and Farmers Empowerment of Odisha and the National Bank for Agriculture and Rural Development (NABARD) of Odisha.

 

About Koraput Kalajeera Rice:

 

It is a popular rice variety because it has a distinctive black color, great flavor, aroma, and texture, and it is aromatic.

 

In the Koraput district, Kalajeera rice is grown in Tolla, Patraput, Pujariput, Baliguda, and Mohuli.

 

Kalajeera rice is accepted to improve memory, control diabetes, increment hemoglobin

levels, and lift digestion. This fragrant grain has antispasmodic, stomachic, carminative, antibacterial, astringent, and sedative properties, among other useful properties.

International Affairs

1. Highlights of PM Narendra Modi visit to Jakarta; Attended 20th ASEAN-India Summit & 18th East Asia Summit 

Narendra Modi, the Prime Minister of India, paid an official visit to Jakarta, Indonesia, from September 6 to September 7, 2023, at the invitation of President Joko Widodo.

 

During his visit, he went to the twentieth ASEAN (Relationship of Southeast Asian Countries) India Highest point and the eighteenth East Asia Culmination (EAS) facilitated by Indonesia as current Seat of ASEAN.

 

The first summit between India and ASEAN since India-ASEAN relations were elevated to a Comprehensive Strategic Partnership in 2022 is the 20th ASEAN-India Summit.

 

Indonesia assumed the role of ASEAN Chair in 2023 under the slogan “ASEAN Matters: Epicentre of Development.” ASEAN rotates its chairmanship annually in accordance with the order of the English names of its member states.

 

The 20th ASEAN-India Summit took place in Jakarta, Indonesia, on September 7, 2023. The Summit, which was co-chaired by Indonesian President Joko Widodo and Indian Prime Minister Narendra Modi and focused on the topic “ASEAN Matters: Epicentrum of Development.

 

The eighteenth East Asia Culmination (EAS) Highest point was held in Jakarta, Indonesia. The gathering embraced the EAS Chiefs’ Assertion on Keeping up with and Advancing the District as an Epicentrum of Development and traded sees on an extensive variety of territorial and worldwide issues.

2. NJA signs MoU with Singapore Judicial College on Advancing Cooperation in Judicial Education & Research

A Memorandum of Understanding (MoU) on enhancing cooperation in judicial education and research was signed by the Singapore Judicial College of the Supreme Court of Singapore and the National Judicial Academy (NJA) of India, which operates under the direction of the Supreme Court of India.

 

The MoU was endorsed during Dr. Dhananjaya Yashwant (DY) Chandrachud, the Central Equity of India (CJI’s) official visit to Singapore. During the signing, Singapore’s Chief Justice Sundaresh Menon was also present.

 

In the presence of the CJI and CJ of Singapore, another Memorandum of Understanding in the area of judicial cooperation was signed on September 7, 2023, between the Supreme Courts of India and Singapore.

 

Since 2012, CJ Sundaresh Menon has been Singapore’s fourth Chief Justice. He is the first Chief Justice of Singapore who was born in Singapore.

 

In November 2022, CJI DY Chandrachud was sworn in as the 50th CJI, taking over for Justice Uday Umesh Lalit. On November 10, 2024, DY Chandrachud’s term will come to an end.

Banking and Finance

1. AU Small Finance Bank Partners with Star Health and Bajaj Allianz to Offer Insurance Products

Star Health and Allied Insurance Company (Star Health) and Bajaj Allianz Life Insurance Company (Bajaj Allianz) have recently signed bancassurance agreements with AU Small Finance Bank (AU SFB). This essential move permits AU Bank to offer a scope of protection

items to its clients through these associations.

 

Through the bank’s digital channels and branches, insurance products like health insurance and general insurance policies are now available to AU Bank customers. Bancassurance Organization with Bajaj Allianz Disaster protection:

 

Under this organization, AU SFB will circulate a scope of protection items from Bajaj

Allianz Life coverage. Term insurance, savings plans, and retirement products are among these offerings.

 

The cooperation is supposed to be a drawn out organization, demonstrating a supported

connection between AU SFB and Bajaj Allianz Disaster protection.

 

The goal of the partnership is to improve top-notch service delivery and adopt a digital-first approach, which suggests a focus on offering customers effective insurance solutions that are driven by technology.

 

Partnership with Star Health and Bancassurance:

 

In the partnership with Star Health, AU SFB will distribute Star Health’s health insurance plans.

 

Health care coverage designs regularly cover clinical costs and give monetary assurance in instance of ailment or mishaps.

 

What is Bancassurance? 

 

Bancassurance is a partnership between a bank and an insurance company to provide customers with insurance products and services. Customers are able to purchase insurance policies through the bank, such as life insurance, health insurance, or property insurance, because the bank serves as an intermediary or distribution channel for insurance products.

Science and Technology

1. North Korea Unveils First Tactical Nuclear-Armed Submarine Named “Hero Kim Kun Ok”

Submarine No. 1, North Korea’s first operational tactical nuclear attack submarine, was launched on September 8, 2023. 841 is known as “Hero Kim Kun Ok.” It was developed specifically for underwater nuclear weapon launch. This will be sent to the fleet to patrol the waters between Japan and the Korean peninsula.

 

The send off service was gone to by Kim Jong Un, the Preeminent head of North Korea at

the Sinpho shipyard situated on the east shore of North Korea.

 

The submarine is launched prior to the September 9, 1948, 75th anniversary of North Korea’s establishment.

 

The submarine was named after Legend Kim Kun alright, a North Korean maritime boss who drove an activity that sank the USS Baltimore in 1950 during the Korean Conflict.

 

Note: North Korea every year observes September ninth as the Day of the Underpinning of the Republic.

 

Objective:

 

To counter the advanced naval assets of the United States of America (USA) and its Asian allies, the new launch is a response to the joint military exercise that was held by the USA and South Korea.

 

Note: For the first time since the 1980s, the United States docked a nuclear-capable ballistic missile submarine in South Korea in July 2023.

 

The Hero of the Submarine Kim Kun Ok:

 

The vessel appears to be a modified Romeo-class submarine from the Soviet era, which North Korea began producing domestically after acquiring it from China in the 1970s.

 

With its ten missile launch tube hatches, the submarine is likely capable of firing submarine-launched ballistic missiles (SLBMs) and carrying ten Pukgoksong-3 weapons from North Korea.

 

The “Haeil,” North Korea’s first nuclear-armed unmanned underwater vehicle, was unveiled in March 2023. The submarine is also capable of launching it.

 

The submarine with 2 unmistakable sizes of send off hatches, is equipped for sending off two particular types or sizes of SLBMs.

 

The term “tactical” suggests that it is armed with smaller, short-range Submarine-Launched Cruise Missiles (SLCMs) or SLBMs capable of striking South Korea, Japan, or other nearby regions rather than an SLBM capable of reaching the US mainland.

 

Key Points:

 

Resolutions passed by the United Nations Security Council forbid North Korea from developing nuclear weapons and ballistic missiles. The recent submarine launch has also sparked concerns from Japan and South Korea.

 

North Korea has an expected around 70-90 diesel-controlled submarines in one of the world’s biggest submarine armadas. However, the majority of them are old and only capable of launching mines and torpedoes, not missiles.

2. Mazagon Dock Shipbuilders Signs Master Ship Repair Agreement with US Govt to Service its Fleet

A Master Ship Repair Agreement (MSRA) has been signed by Mazagon Dock Shipbuilders Ltd. (MDL), a Public-Sector Undertaking (PSU) under the Ministry of Defence (MoD), with the government of the United States of America (US), represented by NAVSUP Fleet Logistics Center (FLC) Yokosuka, Japan.

 

The MSRA is a non-binding agreement between the US Navy and private shipbuilding companies to pre-approve shipyards for US naval vessel repairs.

 

Under this arrangement, MDL is created to convey fundamental journey fix and upkeep administrations for the US Naval force Boats (USNS) and it implies the reinforcing of

India’s sea security.

 

This is a non-monetary understanding and there are just 2 shipyards in India including MDL

which has marked MSRA, the other being Larsen and Toubro (L&T). The agreement is anticipated to permit US Navy ship voyage repairs at Mazagon Dock.

 

In July 2023, L&T had marked the MSRA with the US Naval force. The Kattupalli Shipyard of L&T, which is close to Chennai (Tamil Nadu) and is a major node in the Southern Defense Corridor, was approved to perform voyage repairs on the vessels of the Military Sealift Command as well as the salvage ship USNS Salvor (T-ARS 52).

 

Note: Mazagon Moor Shipbuilders Restricted, previously known as Mazagon Moor Restricted was consolidated as a Confidential Restricted Organization on February 26, 1934, in Mumbai (Maharashtra).