1. RBI felicitate banker’s for making Leh achieves 100 percent digitization of banking operations
Tags: place in news Economy/Finance
The Reserve Bank of India (RBI) has felicitated the bankers of the Leh district for achieving 100 percent digitization of banking operations.
Digital Banking refers to the electronic banking service provided by a bank for its financial, banking and other transactions through electronic devices online.
Leh is the capital of the union territory of Ladakh and is the highest located district of India.
In 2019 RBI put forward a proposal to make at least one district of every state in the country have 100 percent digitization of banking operations.
Thrissur district of Kerala became the first fully digital banking district of the country in August 2021.
Kerala is also the first state in India to achieve the target of Financial Inclusion of having at least one bank account in a family.
2. Piyush Goel attends G 20 ministers WTO Dispute Settlement reforms meeting in Bali
Tags: place in news Summits International News
The Indian Commerce minister Piyush Goel in a tweet said that he participated in a discussion on WTO’s Dispute Settlement Reform that was convened by the United States Trade Representative (USTR) Katherine Tai on the sidelines of the G20 ministerial meeting in Bali, Indonesia on 21 September 2022.
The 12th World Trade Organization (WTO) ministerial conference held in Geneva, Switzerland from 12-17 June 2022, had promised to revive the dispute settlement body in the next two years.
WTO Dispute Settlement System
WTO is a global body which was set up in 1995 to promote rule based trading systems in the world and it also settles trade related disputes between the member countries.
A member country can complain against another member country to the WTO if it believes that the country is not following WTO rules regarding trade.
The Dispute Settlement Mechanism is a two tier process in the WTO.
First, the member countries are encouraged to settle their dispute through consultation.
If this fails then the WTO’s Dispute Settlement Body appoints a panel to look into the dispute.
The countries have the right to appeal against the ruling of the panel to an Appellate Body set up by the Dispute Settlement Body. The ruling of the Appellate body is binding on the countries of WTO.
Objection of the United States to the Dispute Settlement System
The United States government has blocked the appointment of members to the Appellate Body since 2019. The Appellate body structure is at present not working but the panel system is still functioning.
The United States wants to abolish the Appellate system of the WTO as it believes that it has become synonymous with litigation and has become prolonged, complicated and expensive.
However the developing countries are of the view that a two tier dispute settlement system is essential for the functioning of the WTO dispute settlement system.
World Trade Organisation (WTO)
- It was set up on 1st January 1995 replacing the General Agreement on Tariff and Trade (GATT).
- Its main purpose is to promote rule based trading systems in the world and it also settles trade related disputes between the member countries.
- The headquarters of WTO is in Geneva, Switzerland.
- There are 164 member countries.
- Director General of WTO : Dr Ngozi -Okonjo-Iweala of of Nigeria
- Report released by WTO : World Trade Report
3. First India-Australia-Indonesia foreign minister’s trilateral meeting held in New York
Tags: place in news Summits Person in news International News
External Affairs Minister S.Jaishanker held the first trilateral meeting of the foreign ministers of India, Indonesia and Australia in New York on 23 September 2022.
IMPORTANT FACTS -
- In a tweet the minister said that he discussed the maritime issue, blue water economy with the Indonesian foreign minister Retno Marsudi and the Australian foreign minister Penny Wong and emphasized the centrality of ASEAN in the Indo-Pacific region.
- World leaders are in New York to participate in the High Level Week at the 77th Session of the United Nations General Assembly (UNGA).
4. Quad foreign minister sign an agreement to operationalise Humanitarian Assistance and Disaster Relief at New York
Tags: place in news International News
The foreign ministers of the Quad (Quadrilateral Security Dialogue) signed an agreement in New York, United States on 23 September 2022 to operationalise Humanitarian Assistance and Disaster Relief (HADR) in the Indo-Pacific area.
Foreign ministers of India(S.Jaishanker), Australia(Penny Wong,), United States(Anthony Blinken) and Japan(Hayashi Yoshimasa ) signed the agreement to operationalise, which was announced by the Quad Leaders in Tokyo on 24 May 2022, as part of a shared vision for a free and open Indo-Pacific that is inclusive and resilient.
Under the HADR, the member countries will coordinate their disaster response operations in the region with other National and International agencies, private ,non-governmental organisations .
Next Quad foreign minister’s meeting to be held in New Delhi
They also agreed to hold the next foreign minister’s meeting of the Quad in India in early 2023.
The concept of QUAD was given by Japanese Prime Minister Shinzo Abe in 2007 for maritime cooperation between these countries after the Indian Ocean Tsunami disaster in 2004.
IMPORTANT FACTS -
Quad (Quadrilateral Security Dialogue) :
- It is a group of Australia, India, Japan and the United States to promote cooperation in the Indo-Pacific region.
- The first in person summit meeting of the Quad leaders was in Washington, United States in 2021.
- The second in person summit meeting was held in May 2022 in Japan
- The third summit meeting will be held in Australia in 2023.
5. Foreign Minister Jaishankar attends high level L-69 group meeting in New York
Tags: place in news Summits International News
External Affairs Minister S. Jaishankar attended the High Level Meeting of the L.69 Group on "Reinvigorating Multilateralism and Achieving Comprehensive Reform of the UN Security Council” in New York, United States of America on 23 September 2022.
IMPORTANT FACTS -
- The L.69 Group consists of developing countries from Asia, Africa, Latin America, Caribbean and Small Island Developing States, focused on reforms of the UN Security Council.
- Dr S. Jaishankar is on an official visit to the United States from 18-28 September 2022. He is leading the India delegation for the High Level Week at the 77th Session of the United Nations General Assembly (UNGA).
6. Defence Ministry signs contract to acquire additional Brahmos missiles
Tags: place in news National Defence National News
An agreement worth Rs 1,700 crore was signed between the acquisition arm of the Defence Ministry and M/s BrahMos Aerospace Pvt Ltd on September 22 for additional supply of BrahMos supersonic cruise missiles.
IMPORTANT FACTS -
- The total contract value signed so far for these missiles has exceeded Rs 38,000 crore.
The induction of these missiles will further enhance the operational capability of the Navy.
The contract will also promote indigenous production of critical weapon systems and ammunition with active participation of domestic industry.
It may be mentioned that BAPL is a joint venture between India and Russia which is making a significant contribution in the development of a new generation of surface-to-surface missiles.
ADDITIONAL INFORMATION -
About BrahMos :
BrahMos is a supersonic cruise missile.
It is a joint collaboration between India and Russia.
The missile is capable of being launched from land, sea, sub-sea and air against surface and sea-based targets.
BrahMos was first flight tested at Pokhran test range in Rajasthan.
7. G4 group express concern over slow pace of reform on Security Council
Tags: place in news International News
The foreign ministers of Group of 4 (India, Japan, Brazil and Germany) met in New York on 22 September 2022 and expressed concern about the lack of meaningful progress in the Intergovernmental Negotiations (IGN) on United Nations Security Council (SC) reform. They met on the sidelines of the 77th Session of the United Nations General Assembly being held in New York, United States.
The meeting was attended by Indian External Affairs Minister S.Jaishanker, German foreign minister Annalena Baerbock, Brazilian foreign minister Carlos Alberto Franco Franca and Japanese foreign minister Yoshimasa Hayashi.
The G-4 was formed in 2005 to reform the UN Security Council and include four countries as the permanent member of the United Nation Security Council.
IMPORTANT FACTS -
China not in favour :
- According to the government of India, as told to Lok Sabha on 22 July 2022, only China is opposing India’s candidature for the UN Security Council membership while the other permanent members of the Security Council, Russia, France, United Kingdom and the United States are in favour of India.
- China is also opposed to the membership of Japan and Germany.
- It has a difficult relationship with India and Japan and consider them as its rival while it opposes Germany as it is not a developing country.
UN Security Council :
- The UN Security Council is the main UN body which is responsible for maintaining peace and security in the world.
- It consists of 15 members. 10 members are non-permanent and are elected for 2 years.
- Five members are permanent members and they have veto power. The five permanent members are China, Russia, France, the United Kingdom and the United States.
8. Devusinh Chauhan to lead the Indian delegation in the ‘ITU Plenipotentiary Conference’ 2022 in Bucharest
Tags: place in news Person in news
The Union Minister of State for Communication Devusinh Chauhan will lead the Indian delegation to take part in the Plenipotentiary Conference 2022 (PP-22) of ITU (International Telecommunication Union) and last meeting of the 2022 session of ITU Council from 24th September to 14th October, 2022 in Bucharest, Romania.
The meeting will hold elections to constitute the next ITU Council for the term 2023-26 and for various posts. India has put up its candidature to be re-elected as a Member of the next ITU Council.
IMPORTANT FACTS -
International Telecommunication Union (ITU) :
- The International Telecommunication Union is a specialized agency of the United Nations for information and communication technologies – ICTs.
- It was established on 17 May 1865 as the International Telegraph Union, making it the oldest UN agency.
- The ITU promotes the shared global use of the radio spectrum, facilitates international cooperation in assigning satellite orbits, assists in developing and coordinating worldwide technical standards, and works to improve telecommunication infrastructure in the developing world.
- Headquarters: Geneva, Switzerland
9. First ‘Global Clean Energy Action Forum -2022’ starts at Pittsburgh, United States
Tags: place in news Summits International News
The three day (21-23 September) ‘Global Clean Energy Action Forum -2022 organised by the United States government’s Department of Energy and Carnegie Mellon University, started on 21 September 2022 at Pittsburgh, United States .
Under the Global Clean Energy Action Forum a joint meeting of the Clean Energy Ministerial (CEM13) and Mission Innovation (MI-7) are being held.
It is being attended by energy and science ministers from 31 countries to discuss ways to achieve a net zero carbon target for the world.
India is being led by Union Minister Dr Jitendra Singh.
He met US Energy Minister Jennifer Granholm and other important dignitaries.
The theme for CEM13/MI-7 is Rapid Innovation and Deployment.
IMPORTANT FACTS -
- Pittsburgh is also known both as "the Steel City" and as the "City of Bridges".
- Jamshedpur in India is also called as Pittsburgh of India.
10. Union Finance Minister Sitharaman launches e-learning platform ‘Bharat Vidya’
Tags: place in news State News
The Union Minister for Finance Nirmala Sitharaman launched Bharat Vidya.in, an online learning platform for Oriental and South Asian studies, in Pune, on 21 September 2022.
Bharat Vidya has been developed by the Bhandarkar Oriental Research Institute, Pune.
It is a first-of-its-kind online platform, which will offer both free and paid courses covering various aspects of Indology pertaining to art, architecture, philosophy, language and science.
IMPORTANT FACTS -
Bhandarkar Oriental Research Institute :
- The Bhandarkar Oriental Research Institute, Pune was set up on 6 July 1917 to commemorate the work of Ramkrishna Gopal Bhandarkar. Bhandarkar was a pioneer of scientific orientology in India.
- Orientology is the study of the ancient indigenous lore and wisdom of the East or the ‘Orient’.
- The institute has one of the largest collections of rare books and manuscripts spanning over 1, 25,000 books and over 28,000 manuscripts in Sanskrit, Prakrit, Indian regional languages, Classical, Asean and European languages.
