• Kerala Assembly passes resolution to rename ‘Kerala’ as ‘Keralam’

• The Kerala Legislative Assembly unanimously passed a resolution urging the Central Government to change the name of the state from ‘Kerala’ to ‘Keralam’.
• The resolution was moved by CM Pinarayi Vijayan who stated that the name ‘Keralam’ is used in the Malayalam language.
• The resolution said, “The name of our state in Malayalam is Keralam. States were formed on the basis of language on November 1, 1956. That day is also observed as Kerala formation day.
• The demand for a united Kerala for all Malayalam-speaking communities has been strongly raised right from the days of the freedom struggle.
• However, the name of our state in the First Schedule of the Constitution has been written as Kerala. This Assembly is unanimously requesting the Union Government to take immediate steps under Article 3 of the Constitution to change the name of the state to Keralam.

About Kerala

• Capital – Thiruvananthapuram
• Chief Minister – Pinarayi Vijayan
• Governor – Arif Mohammad Khan

Odisha launches ‘Mo Jungle Jami Yojana’ scheme

 

• Odisha Chief Minister Naveen Patnaik has launched the ‘Mo Jungle Jami Yojana’ for indigenous people of the state to ensure individual and community rights over forest land for eligible beneficiaries.
• It was launched on the International Day of the World’s Indigenous Peoples.
• All welfare activities of the government will be linked to the scheme to create stability in the livelihoods of tribal people.
• Stating the aim of the government is to ensure the benefits of the scheme reach all eligible beneficiaries, the chief minister said it will also help protect the forest ecosystem.
• Besides steps will be taken to reduce climate change as part of the scheme. Odisha is the front runner in the country in the implementation of the Forest Rights Act, he said adding so far 4.5 lakh tribal households have been given land rights over 6.7 lakh acre land.

About Odisha

• Capital – Bhubaneswar
• Chief Minister – Naveen Patnaik
• Governor – Ganeshi Lal

India launches ‘Neerakshi’ – Autonomous Underwater Vehicle

• An autonomous underwater vehicle (AUV) designed to detect mines and a first of its kind in the country was launched.
• The AUV named ‘Neerakshi’ is a collaboration of Kolkata-based warship maker Garden Reach Shipbuilders and Engineers (GRSE) Ltd and MSME entity AEPL.
• The commercial launch of the AUV is likely to be within six months to a year after the completion of user trials by the Indian Navy, Coast Guard, and possibly the Army too.
• This can be used for a variety of functions ranging from mine detection to mine disposal to underwater surveys.
• This is 2.1-metre-long cylindrical unmanned vehicle about a foot in diameter and weighing around 45 kg.

PM Modi launched ‘Bhartiya Vastra Evam Shilp Kosh’ E-Portal

• Prime Minister Narendra Modi has launched the e-portal of ‘Bhartiya Vastra evam Shilp Kosh’ – a Repository of Textiles and Crafts developed by the National Institute of Fashion Technology (NIFT).
• The launch was held on the 9th National Handloom Day celebration at Bharat Mandapam, Pragati Maidan, Delhi.
• The programme was attended by over 3000 handloom and khadi weavers, artisans, and stakeholders from the textile and MSME sectors.
• It brought together handloom clusters across India, NIFT campuses, Weaver Service Centres, Indian Institute of Handloom Technology campuses, National Handloom Development Corporation, Handloom Export Promotion Council, KVIC institutions, and various State Handloom Departments.

PM Modi in News

• PM Modi launched “Urea Gold” in Rajasthan
• PM Modi inaugurates Semicon India 2023 conclave in Gujarat
• PM Modi inaugurates 6 Eklavya Model Residential Schools in Rajasthan
• PM Narendra Modi to inaugurate ‘Semicon India 2023’ in Gandhinagar
• PM Modi inaugurates New Integrated Terminal Building at Port Blair

Assam Govt to organize ‘Khel Maharan’ across state

• The Assam government will organize ‘Khel Maharan’ from November 1 to January 10 to identify and nurture sports talents at the grassroots level.
• More than 50 lakh sportspersons will participate and compete in five sporting disciplines – Athletics, Football, Kabaddi, Volleyball, and Kho-Kho.
• To ensure fair competition, the ‘Khel Maharan’ initiative has categorized events into four age groups: Under 19 (Men), Under 19 (Women), Above 19 (Men), and Above 19 (Women).
• State-level events will be held at Guwahati, Dibrugarh, Silchar, Kokrajhar, and Diphu.

About Assam

• Capital – Dispur
• Chief Minister –Himanta Biswa Sarma
• Governor – Gulab Chand Kataria

5.33 crore subscribers enrolled under Atal Pension Yojana

• 33 crore subscribers have so far enrolled in Atal Pension Yojana (APY), the government told in Lok Shaba.
• It aims to deliver old age income security to all citizens of India, particularly to the workers in the unorganized sector.
• Atal Pension Yojana (APY) was launched on 9 May 2015 and was operationalized from 1 June 2015.
• The minimum age of joining the APY is 18 years and the maximum age is 40 years. As per the scheme, subscribers will receive pension benefits upon attaining the age of 60 years.
• The Scheme offers a flexible minimum guaranteed pension of Rs 1000, Rs 2000, Rs 3000, Rs 4000 or Rs 5000 per month based on the age of joining and pension amount chosen.
• Accordingly, the per month subscription amount presently varies from Rs 42 to Rs 1454 on the basis of the chosen option.
• The same pension would be paid to the spouse of the subscriber after the demise of the subscriber and on the demise of both the subscriber and spouse, the pension wealth as accumulated till age 60 of the subscriber would be returned back to the nominee.

Banking and Financial

Banks write off Rs 14.56 lakh crore NPAs in last nine financial years

• Banks have written off bad loans worth Rs 14.56 lakh crore in the last nine financial years starting 2014-15 in Aug 2023.
• Out of the total Rs 14,56,226 crore, written-off loans of large industries and services stood at Rs 7,40,968 crore.
• In a written reply to Lok Sabha, Minister of State for Finance Bhagwat Karad said that Scheduled Commercial Banks have recovered an aggregate amount of Rs 2,04,668 crore in written-off loans, including corporate loans, since April 2014 and up to March 2023.
• In another reply, the net of recovery in written-off loans during the financial year (net write-off) in public sector banks (PSBs) was Rs 1.18 lakh crore in FY18, which declined to Rs 0.91 lakh crore in FY22 and to Rs 0.84 lakh crore (RBI provisional data) in FY23.
• Net write-off loans by private sector bank was Rs 73,803 crore (RBI provisional data) in FY 2022-23.
• Net write-off as percentage of opening gross loans and advances in private sector banks was 1.25 percent and 1.57 percent in FY 2017-18 and FY 2022-23 respectively, and it was 2 percent and 1.12 percent for PSBs during the same period.
• During the year ended March 2023, banks wrote off non-performing assets (NPAs), or bad loans, worth over Rs 2.09 lakh crore, as per Reserve Bank of India.

• Bajaj Finance has partnered with ICICI Lombard General Insurance along with other partners to provide car and two-wheeler insurance plans on the platform Bajaj Finance Insurance Mall.
• These policies can be bought instantly on the platform through an all-digital and seamless customer experience journey.
• The ICICI Lombard Car and Two-wheeler Insurance policies offer comprehensive damage coverage, including third-party cover and various add-on benefits to vehicle owners.
• These policies provide extensive coverage against various risks and damages to vehicles.

Recent MoU in Banking Sector

• Bandhan Bank ties up with Odisha govt to strengthen Odisha Tourism Development Corporation
• Union Bank partners with IBM to co-create Digital Business platform
• HDFC Bank partners with Dvara KGFS for microloans
• Ministry of Culture signs MoU with Canara Bank to provide financial assistance
• Max Life, DCB Bank join hands to offer insurance products

Axis Bank to acquire balance 7% stake in Max Life for Rs 1,612 crore

• Axis Bank, along with its subsidiaries will acquire the remaining 7 percent stake in Max Life Insurance.
• Acquisitions, Divestments, and Merger Committee has approved infusion of Rs 1,612 crore in Max Life through preferential allotment.
• The combined weight of Axis Bank, Axis Securities, and Axis Capital has already provided them with a significant 12.02 percent stake in Max Life.
• With the acquisition of the additional 7 percent stake, the collective holdings of Axis Entities will surge to a slightly over 19.02 percent stake in Max Life.
• Notably, this strategic move will also see an increase in Axis Bank’s direct stake in Max Life to 16.22 percent.

About Axis Bank

• Founded – 1993
• Headquarters – Mumbai, Maharashtra
• Chairman – Rakesh Makhija
• MD & CEO – Amitabh Chaudhary
• Tagline – Badhti Ka naam Zindagi
• • Indian Oil Corporation Limited (IOCL) Chairman Shrikant Madhav Vaidya has been re-employed to hold the position for an additional year.
  • The Appointments Committee of the Cabinet (ACC) approved the proposal of the Ministry of Petroleum and Natural Gas for the tenure extension of Vaidya from 1 September 2023 to 31 August 2024.
  • Vaidya was set to retire this year when he turns 60.
  • This is one of the very rare occasions when a director on the board of a PSU has been given an extension of service beyond his retirement age. No chairman of a Maharatna PSU has been given an extension beyond 60 years.

  Recent Appointment

  • Additional Director General of Indian Coast Guard – S Paramesh
  • Strategic advisor for Cyrus Poonawalla Group’s – Keki Mistry
  • Chairman of Central Board of Indirect Taxes and Customs (CBIC) – Sanjay Kumar Agarwal (replace Vivek Johri)
  • President and CEO of Honeywell High Growth Region – Anant Maheshwari
  • President of Qualcomm India – Savi Soin (replace Rajen Vagadia)

  Sports

  Savita won gold at World Cadet Wrestling Championship 2023

  • Indian wrestler Savita, who entered the event as the defending champion, won the only gold medal for India in the women’s 61kg weight division in World Cadet Wrestling Championships 2023.
  • India bagged a total of 11 medals, including 1 gold, 7 silver, and 3 bronze at the World Cadet Wrestling Championship 2023 in Istanbul, Turkey.
  • India finished sixth in the men’s freestyle and fourth in men’s Greco-Roman team rankings as well.
  • However, it was the women’s freestyle where India shone best by finishing third, only behind Japan and USA, with 118 points in the team rankings.

  Awards

  Subhash Runwal receives the Lifetime Achievement Award RICS

  • Subhash Runwal, Chairman – Runwal, a leading real estate developer with a legacy of over four decades, has been recognized with the Lifetime Achievement Award at the first-ever RICS South Asia Awards.
  • RICS (Royal Institution of Chartered Surveyors) is a global industry body representing professionals across the country.
  • Hosting its first-ever awards, it aimed to recognize global and Indian industry-leading achievements and demonstrate the upholding of the highest standards of professionalism and ethics by individuals and teams across built and natural environments.
  • This recognition is a testimony to Runwal’s exceptional contributions, outstanding achievements, and unwavering dedication to the real estate sector.

  Recent Awards

  • Global Leader Award 2023 – Jayesh Saini
  • Diversity in Cinema Award at Indian Film Festival of Melbourne – Mrunal Thakur
  • Global Visionary Entrepreneur Award – Deepak Shenoy (MD of Medec Dragon Pvt Ltd)
  • Best Managed Pharmaceutical Sustainable Organizations Award 2023– Medec Dragon Pvt Ltd
  • Lokmanya Tilak National Award 2023 – Narendra Modi (41st recipient)
  • Maharashtra govt’s first ‘Udyog Ratna’ award – Ratan Tata

  Important day

  Government e-Marketplace (GeM) celebrates 7th Foundation Day

  • Government e-Marketplace (GeM) commemorates its 7th Foundation Day on 10 August 2023.
  • GeM has consistently demonstrated an unwavering commitment to fostering positive change, and its journey over the past seven years has been marked by remarkable achievements that have propelled it to become one of the largest public procurement portal in terms of both transaction value and the breadth of the buyer-seller ecosystem
  • In an astonishingly short span of time, GeM has surpassed the achievements of renowned public procurement platforms such as South Korea’s KONEPS and Singapore’s GeBIZ.
  • In 2023, GeM achieved a milestone of INR 2 lakh crore in Gross Merchandise Value (GMV) for the fiscal year 2022-23.
  • GeM is India’s online marketplace for public procurement. Launched in 2016, GeM facilitates transparent and efficient procurement for government departments, organizations, and PSUs.