Daily Current Affairs 17th August, 2023

IDaily Current Affairs 17 August for Banking/Insurance/SSC and other related exams.

NOTE: To read complete Current Affairs, subscribe to our plan. All important news are not covered here.

NATIONAL NEWS

India gets first-ever night street racing circuit in Chennai
The Tamil Nadu government and Racing Promotions Private Limited (RRPL) have launched a new street circuit in Chennai. 

• The 3.5km track will be located around the Island Grounds and will be the first-ever street circuit in India and South Asia to host a night race.
• The track would be stretched across the Island Grounds, Victory War Memorial and the Napier Bridge with elevation changes, along with the view of the Marina Beach Road and the Bay of Bengal. It will also have 19 corners with multiple chicanes.

Fiscal Health Report: Maharashtra Leads, Followed By Chhattisgarh
Maharashtra secured the top position as the best state in overall fiscal health in a report conducted by a foreign brokerage firm. The report, penned by Kaushik Das, chief economist at Deutsche Bank India, was conducted to survey the fiscal health of 17 major states.

• According to a PTI report, Chhattisgarh secured the second position in the report. Reportedly, it is one of the poorest states in the country. Following it, Telangana stood third, while the last three positions were occupied by Bengal, Punjab, and Kerala. The report is based on the first budget estimates of the fiscal year 2023-24 (FY24).

BANKING & FINANCE

Canara Jeevan Dhara savings bank account for pensioners launched
Canara Bank has introduced Canara Jeevan Dhara, a special savings bank account for pensioners, and prospective pensioners. All the employees who retired on a voluntary basis or normal retirements are also eligible.

• The bank offers two variants depending on the pension credit. Diamonds account is for up to Rs 50,000 and Platinum account is for above Rs 50,000.
• Interest rate on Jeevan Dhara savings account will be same as regular savings account which ranges from 2.90% to 4% depending on the balance in the account.

ADB approves USD 40.5 million loan for childhood development, maternal mental health in Meghalaya
The Asian Development Bank (ADB) has approved a USD 40.5 million loan for integrated early childhood development and maternal mental health in the northeastern state of Meghalaya, the multilateral bank said in a release.

• The Meghalaya government is contributing USD 15.27 million to the project.
• The project is expected to strengthen home-based childcare (children 0-1.5 years) and center-based childcare (1.5-6 years) through daycare (Anganwadi) centers in Meghalaya.

ACQUISITIONS & MERGERS

Viacom18 completes merger of JioCinema and Voot OTT platforms
Viacom18 has nearly completed the merger of its two OTT platforms, JioCinema and Voot. Sources close to the company told that the technology backend for both the OTT platforms has been completely integrated, and 90 per cent of Voot Select subscribers have transitioned to JioCinema.

• The remaining 10 per cent of subscribers have not transitioned to JioCinema yet, although executives believe they will transition soon enough, “likely in the next couple of months.”

Hyundai Motor to acquire General Motors’ Talegaon Plant
Hyundai Motor Co’s Indian subsidiary has announced its intention to acquire General Motors’ Talegaon plant located in Maharashtra,where it aims to start production by 2025. This strategic move not only allows General Motors to exit the Indian market but also presents Hyundai with the opportunity to increase its annual production capacity.

• The South Korean carmaker has not revealed the amount it will pay the American firm to purchase the plant, which has an annual production capacity of 130,000 units.

AWARDS

Indian-American economist Raj Chetty awarded top Harvard University prize
Indian-American economist Raj Chetty has been awarded Harward University’s coveted George Ledlie Prize for wielding big data to break myths about who achieves the American Dream and the obstacles faced by others.

• Chetty, a professor of Economics at Harvard University is also director of Opportunity Insights, a group of economists based at Harvard who study inequality. He had also advised US President Joe Biden on economic issues.
• The award is bestowed every two years to a member of the Harvard community who has made the most valuable contribution to science, or in any way for the benefit of mankind, the university said.

Ashleigh Gardner and Chris Woakes Named ICC Players of the Month for July 2023
Australia’s prolific all-rounder Ashleigh Gardner and England seamer Chris Woakes were named International Cricket Council (ICC) Players of the Month for July 2023.

• The 26-year-old Gardner becomes the first player to win back-to-back awards, claiming her fourth ICC Women’s Player of the Month prize following another scintillating set of performances against England and Ireland in July.
• On the other hand, Woakes wins the ICC Men’s Player of the Month award for his fruitful contributions with the ball, helping his side claw back a two-nil deficit to close out their Ashes series on level terms.

SCIENCE & TECHNOLOGY 

India’s first drone common testing centre to be established in Tamil Nadu
India’s first Unmanned Aerial Systems (Drone) Common Testing Centre under Defence Testing Infrastructure Scheme (DTIS) will be established in Tamil Nadu.

• This centre would be established over an area of about 2.3 acres at the SIPCOT Industrial Park, Vallam Vadagal near Sriperumbudur. The testing centre would enable the State to be a significant contributor to the self-reliance of the country in the aerospace and defence sectors.

‘Pibot,’ the humanoid robot that can safely pilot an airplane
The Korea Advanced Institute of Science & Technology (KAIST) is making groundbreaking advancements in aviation with the development of “Pibot,” a humanoid robot designed to fly aircraft using its own dexterity and advanced AI capabilities.

• The robot, dubbed “Pibot,” can control its arms and fingers to dextrously operate the flight instruments, even with severe vibration in an aircraft, using high-precision control technology.
• Its external cameras allow Pibot to monitor the current state of the aircraft and the internal ones help it manage essential switches on the control panel.

Click here to read Daily Current Affairs