Daily Current Affairs 12th September, 2023

Daily Current Affairs 12 September for Banking/Insurance/SSC and other related exams.

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NATIONAL NEWS

PM Modi launches global biofuels alliance at G20 summit in New Delhi
India launched the Global Biofuel Alliance at a G20 summit in New Delhi. Prime Minister Narendra Modi launched the alliance on the sidelines of the summit. US President Joe Biden, Argentina President Alberto Fernández, Bangladesh Prime Minister Sheikh Hasina, Singapore Prime Minister Lee Hsien Loong, Brazil President Luiz Inácio Lula da Silva among others were present on the occasion.

• Prime Minister Modi said that the launch of the Global Biofuels Alliance marks a watershed moment in our quest towards sustainability and clean energy.
• The Global Biofuel Alliance is an India-led Initiative to develop an alliance of Governments, International organizations, and Industry to facilitate the adoption of biofuels. The initiative aims to position biofuels as a key to energy transition and contribute to jobs and economic growth. The initiative will benefit India at multiple fronts.

India and Saudi Arabia sign Agreement on Cooperation in Energy Sector
India and Saudi Arabia have signed a Memorandum of Understanding on cooperation in the field of energy in New Delhi.
According to the MoU, India and Saudi Arabia will cooperate in the following areas:

• Renewable Energy, Energy Efficiency, Hydrogen, Electricity and Grid Interconnection between the two countries, Petroleum, Natural Gas, Strategic Petroleum Reserves and Energy Security.
• Encouraging bilateral investment in the field of Renewable Energy, Electricity, Hydrogen and Storage; and Oil & Gas.
• Circular Economy and its technologies to reduce the effects of climate change, such as: carbon capture, utilization and storage.
• Promoting digital transformation, innovation and cyber-security and artificial intelligence in the field of Energy.
• Working on developing qualitative partnerships between the two countries to localize materials, products and services related to all sectors of energy, supply chains and its technologies.
• Strengthening the cooperation with companies specialized in the field of energy.
• Any other fields related to the energy field that the two countries agree upon.

India, UK announce Infrastructure Financing Bridge 
India and the UK have launched an infrastructure financing bridge to plan and implement major infrastructure projects, finance minister Nirmala Sitharaman said.

• The two countries have also agreed to conduct investment negotiations in parallel with the goods negotiations to conclude their free trade agreement (FTA) talks.
• The Indian government has also confirmed with the UK government its plans to consider allowing Indian companies to list on exchanges overseas, said UK’s chancellor exchequer Jeremy Hunt, who along with Sitharaman addressed the media during the 12th India-UK Economic and Financial Dialogue.

Tamil Nadu govt to launch scheme granting monthly aid to over 1 crore women
The Tamil Nadu government is all set to launch the largest social welfare initiative, the Kalaignar Magalir Urimai Thogai Thittam, whereby monthly financial assistance of Rs 1,000 will be provided to 1.06 crore eligible women family heads on September 15.

• The sum will be directly transferred into the bank accounts of beneficiaries and they will be given ATM cards to withdraw the amount, Chief Minister M K Stalin said.

INTERNATIONAL NEWS

UK commits $2 billion to UN-backed climate fund
Britain will commit to provide $2 billion to the Green Climate Fund (GCF) to help developing countries cope with climate change, Prime Minister Rishi Sunak said at the G20 Leaders Summit in New Delhi.

• The pledge would be the biggest single funding commitment the UK has made to date to help the world tackle climate change, a government statement said.
• The Green Climate Fund (GFC) – the world’s largest such fund – was set up under United Nations’ climate change negotiations to help channel money needed by poor states to meet their targets to reduce carbon emissions, develop cleaner energy sources and adjust to a warming world.

US city declares September 3 as Sanatana Dharma Day amid row in India
Amid a row in India over Sanatana Dharma remarks by Dravida Munnetra Kazhagam (DMK) leader Udhayanidhi Stalin and Congress’s Priyank Kharge, a city in the United States has declared September 3 as Sanatana Dharma Day.

• According to news , Louisville Mayor Craig Greenberg attended a re-consecration ceremony at the Hindu Temple of Kentucky where his deputy Barbara Sexton Smith read out the official proclamation on September 3.

US and Vietnam signed deal on semiconductor supply chains to expand in support of US industry
The United States and Vietnam have signed a deal on semiconductor supply chains to expand the capacity of the semiconductor ecosystem in Hanoi, in support of the US industry.

• The White House in a statement,, said that the US  recognizes Vietnam’s potential to play a critical role in building resilient semiconductor supply chains, particularly to expand capacity in reliable partners where it cannot be re-shored to the United States and further promote manufacturing and industry development at home under the US CHIPS Act.

BUSINESS & ECONOMY

India Navy, Uber team up for private travel of naval personnel, families
The Indian Navy has joined hands with a cab aggregator service Uber with an aim to provide reliable, convenient, safe and economical mobility solutions for personal travel and commute of naval personnel and families across the country, officials said.

• The MoU with Uber aims to provide reliable, convenient, safe and economical mobility solutions for personal travel and commute of Naval personnel and families across the country.

SPORTS

Asia Cup 2023: Virat Kohli slams 47th hundred, becomes fastest to reach 13K ODI runs
India batter Virat Kohli became the fastest to reach 13,000 ODI runs during the Asia Cup Super 4 clash against arch-rival Pakistan at the R. Premadasa Stadium in Colombo.

• The 34-year-old bettered the record of fellow Indian veteran Sachin Tendulkar (321 innings), by achieving the feat in just 277 innings. Kohli added a cherry on top with a century. He reached his 47th ton in ODIs, off the subsequent ball.
• Additionally, with this century, Kohli has now scored four consecutive 100s at this stadium, the joint-most highest centuries at a single venue alongside South African great Hashim Amla. The other three tons were against Sri Lanka— two of which came in 2017 and one in 2012.

SCIENCE & TECHNOLOGY 

North Korea unveils first tactical, nuclear-armed submarine
North Korea has launched its first operational “tactical nuclear attack submarine” and assigned it to the fleet that patrols the waters between the Korean peninsula and Japan, state media said .

• Submarine No. 841 – named Hero Kim Kun Ok after a North Korean historical figure – will be one of the main “underwater offensive means of the naval force” of North Korea, leader Kim Jong Un said at the launch ceremony. 

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