Daily Current Affairs- September 22, 2023

India-Middle East-Europe Corridor: A New Model of Globalisation

• This news is about the significance of the India-Middle East-Europe Economic Corridor (IMEC) project, which was signed at the G20 Summit in New Delhi in 2023.
• IMEC is a cross-continental infrastructure initiative that aims to connect India, West Asia, and Europe through rail, road, sea, and energy networks. It is seen as an alternative to China’s Belt and Road Initiative (BRI), which has been criticized for its debt trap diplomacy and disregard for sovereignty.
• IMEC has several benefits for India, such as faster trade, transport, and infrastructural growth; increased influence in the Middle East and Mediterranean regions; reduced dependence on the Suez Canal; and diversification of supply chains and production networks.
• IMEC also faces some challenges, such as implementation difficulties, coordination issues, geopolitical tensions, and rivalry with BRI. The article suggests some measures to overcome these challenges, such as leveraging diplomatic ties with the US, expanding global outreach, developing land bridging requirements, and advocating for best debt practices.
• The article concludes that IMEC is a historic opportunity for India to lead a regional economic integration that is based on consultations, mutual benefits, and respect for sovereignty.

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COP28 President urges world to cut emissions by half by 2030

• This news is on the speech of COP28 President Sultan Al Jaber at the UN Climate Action Summit in New York on September 21, 2023.
• Al Jaber, who is also the UAE Minister of Industry and Advanced Technology, called for urgent and collective action to reduce global greenhouse gas emissions by 50% by 2030, in line with the Paris Agreement and the IPCC report.
• Al Jaber highlighted the UAE’s efforts to diversify its economy, invest in renewable energy, and promote low-carbon technologies. He also announced the UAE’s pledge to host the first global hydrogen summit in Abu Dhabi in 2024.
• Al Jaber reminded the international community that we are not powerless to overcome the climate crisis and urged the world to get after gigatons. He said that every country, sector, and individual has a role to play in achieving net-zero emissions by 2050.

Possible title: UP International Trade Show: A Showcase of Opportunities and Innovations

• This news is about the opening of the first UP International Trade Show, which will be inaugurated by President Draupadi Murmu at India Expo Mart in Greater Noida on Thursday.
• The trade show will feature more than 2,000 exhibitors from various sectors, such as healthcare, food processing, pharma, dairy, electronics and e-commerce. They will display their products to entrepreneurs and exporters from India and abroad.
• The trade show will also highlight the amazing crafts, cuisine and culture of Uttar Pradesh, as well as the state’s initiatives in IT/ITEs/MSMEs/ODOP/startups/ education/agriculture/health/tourism culture/energy.
• The trade show will host a special session of Dr. Pawan Agrawal on the management of Mumbai Dabbawala, as well as stalls for small entrepreneurs, new exporters and women entrepreneurs.
• The trade show aims to promote the economic development and global competitiveness of Uttar Pradesh and India.

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Madhya Pradesh CM unveils ‘Statue of Oneness’ of Adi Shankaracharya

• This news is on the inauguration of the ‘Statue of Oneness’ of Adi Shankaracharya, an 8th-century Hindu philosopher and saint, in Omkareshwar, Madhya Pradesh, by Chief Minister Shivraj Singh Chouhan.
• The statue is 108-ft tall and is situated on the Mandhata mountain2. It is part of a project to celebrate the life and philosophy of Adi Shankaracharya, who propounded Advaita Vedanta, a non-dualistic school of thought.
• The project also includes a museum and an institute dedicated to Advaita Vedanta. The chief minister said that the statue is a proud thing for Madhya Pradesh and India, as it showcases the cultural unity and spiritual heritage of the country.
• The statue is the third major statue built in India by the government, after the Statue of Equality of Sri Ramanujacharya in Hyderabad and the Statue of Unity of Sardar Vallabhbhai Patel in Gujarat.

National Nutrition Month: How India is Celebrating POSHAN Abhiyaan

• This news is on the objectives and activities of the National Nutrition Month, also known as Rashtriya POSHAN Maah or the National Nutrition Mission, which is celebrated in September every year in India1.
• The article states that the main goal of the initiative is to combat undernutrition among children under six years old, pregnant women, lactating mothers and adolescent girls, by using technology, convergence, community involvement and targeted approach23.
• The article describes the various events and programmes that are organized during the month, such as community based events, village health sanitation nutritional day, Poshan Pakhwada, and Poshan Awards. The article also mentions the role of different stakeholders, such as frontline workers, state and district authorities, line departments and ministries, and the public.
• The article highlights the achievements and challenges of the initiative, such as reducing stunting, underweight and anemia among children and women, improving breastfeeding and complementary feeding practices, enhancing awareness and behavior change, and ensuring data quality and monitoring. The article also suggests some areas for improvement, such as addressing regional disparities, ensuring convergence and coordination, strengthening capacity building and grievance redressal.

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Odia Scientist Swati Nayak to Receive the 2023 Borlaug Field Award

• Swati Nayak is a scientist and South Asia lead for seed system and product management at the CGIAR-International Rice Research Institute (IRRI) in the Philippines1.
• She will receive the Borlaug Field Award for her innovative approach to involving farmers in demand-driven rice seed systems, which enhance food security and climate resilience.
• She has organized over 10,000 on-farm and comparative testings, and participatory evaluations for over 500 rice varieties, and disseminated more than 20 critical varieties across multiple countries.
• She has also introduced a drought-tolerant rice variety, Shahabhagi Dhan, in Odisha, and played a pivotal role in crafting an international seed policy agreement, Seeds Without Borders.
• She has also empowered women in agriculture through her collaboration with the National Rural Livelihood Mission (NRLM).
• The award, named after Nobel laureate Norman Borlaug, is presented annually to individuals under 40 who advance global food production and alleviate hunger and malnutrition.
• She will receive the award on October 24 in Des Moines, Iowa, along with $10,000 and an award diploma.

New marine tardigrade species named after A.P.J. Abdul Kalam

• Researchers at Cusat discovered a new species of marine tardigrade, Batillipes kalami, from the Mandapam coast near Rameswaram, Tamil Nadu.
• The species is named after the late former President and scientist A.P.J. Abdul Kalam, who was born in Rameswaram.
• The species is about 0.17mm long and 0.05mm wide, with four pairs of legs. It belongs to the phylum Tardigrada, which has more than 1,300 species of micro-animals that can survive in extreme conditions.
• This is the second time a marine tardigrade is described from Indian waters, and the 37th species under the genus Batillipes45. The taxonomy of tardigrades is challenging due to few morphological variations among species.
• Tardigrades are ecologically important as pioneer species that colonise new environments and attract other invertebrates. They are also considered to be one of the toughest organisms on earth, having survived all five mass extinctions and space.

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Rafflesia, the world’s largest flower, faces extinction due to habitat destruction

• Rafflesia is a genus of parasitic plants that produce massive, foul-smelling flowers in the rainforests of Southeast Asia.
• A study by an international group of scientists, including botanists from the University of Oxford’s Botanic Garden, has revealed the critical status of Rafflesia species.
• Of the 42 known species of Rafflesia, 25 are critically endangered and 15 are endangered. More than two-thirds of them receive no protection from current conservation strategies.
• The study calls for urgent actions to save Rafflesia from extinction, such as habitat protection, species understanding, propagation methods, community engagement and IUCN Red List inclusion.

RBI updates guidelines for identifying and regulating wilful and large defaulters

• The RBI has issued draft norms for identifying and classifying borrowers as wilful or large defaulters within six months of loans turning bad.
• A wilful defaulter is defined as an individual or entity that defaults on dues of Rs 25 lakh or more without any valid reason.
• A large defaulter is defined as an entity that owes Rs 1 crore or more, including unapplied interest.
• Wilful defaulters are debarred from obtaining any institutional finance and restructuring credit facilities4. They also face legal actions, including criminal charges.
• Wilful defaulters can be removed from the list only after paying the entire due amount or undergoing resolution through mechanisms like the IBC or RBI’s guidelines, resulting in a change in management and control.
• Lenders are required to report large and wilful defaulters to credit information companies monthly and complete investigations before transferring credit facilities to other lenders or asset reconstruction companies.

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Delhi hosts ‘Nadi Utsav’ to celebrate India’s river culture

• ‘Nadi Utsav’ is a three-day festival organized by the National Mission on Cultural Mapping (NMCM) of IGNCA, in collaboration with the Janapada Sampada Division, from September 22nd to 24th, 2023.
• The event aims to raise awareness and sensitize people about the ecological and environmental importance of rivers, as well as their cultural heritage and spiritual significance.
• The event features various activities, such as scholarly discussions, film screenings, puppet shows, book fair, documentary film awards, exhibitions and cultural performances.
• The event is hosted in Delhi, on the banks of the River Yamuna, and is attended by distinguished guests and dignitaries, such as Hon’ble Justice Prakash Shrivastava, Acharya Shrivatsa Goswami and Swami Chidanand Saraswati.
• This is the fourth edition of ‘Nadi Utsav’, which was initiated by Dr. Sachchidanand Joshi in 2018. Previous editions were held in Nashik, Vijayawada and Munger, along different rivers of India.

Sports Minister felicitates players under PDUNWFS scheme

• PDUNWFS is a government scheme that provides financial assistance to outstanding sportspersons, coaches, and their family members who are facing financial difficulties.
• The scheme helps in procuring sports equipment, covering medical expenses, participating in national and international events, and improving living conditions of sportspersons and their families.
• Union Minister for Youth Affairs & Sports Anurag Singh Thakur felicitated players under PDUNWFS in New Delhi on September 22nd, 2023.
• The minister said that the government is providing help to athletes through various schemes, such as TOPS and PDUNWFS, and that Prime Minister Narendra Modi has given every possible support for the athletes.
• The minister also said that 270 sportspersons have been provided support of around Rs 8.15 crore under PDUNWFS till date.

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Singapore Overtakes Hong Kong as World’s Freest Economy

• The Fraser Institute report ranks 165 jurisdictions based on their economic freedom, which measures the degree of personal choice, voluntary exchange, and protection of property rights.
• Singapore claims the top spot for the first time, surpassing Hong Kong, which held the position for 53 years. Singapore’s strong performance in trade, regulation, and government size contributes to its rise.
• Hong Kong drops to the second place due to new barriers to entry, higher costs of doing business, and restrictions on foreign labor. The report also links Hong Kong’s decline to its loss of civil and political freedom under the national security law.
• Switzerland, New Zealand, and the United States complete the top five freest economies5. The United Kingdom ranks ninth, while Japan and Germany rank 20th and 23rd respectively. China remains at 111th place.
• The report warns that Hong Kong’s reduced economic freedom could harm its long-term prosperity and calls for urgent actions to protect Rafflesia from extinction.

UN Climate Ambition Summit lacks participation from major emitters

• The Climate Ambition Summit (CAS) was a UN event held on September 21, 2023, to showcase leaders with credible actions and policies to uphold the Paris Agreement’s 1.5°C degree goal and promote climate justice.
• The CAS had limited participation from only 34 states and 7 institutions, despite the call for increased climate action by the UN Secretary-General. China, the US, and India, who together contribute 42% of global greenhouse gas emissions, were absent from the summit.
• The CAS had stringent criteria for countries to secure a speaking slot, such as updated pre-2030 Nationally Determined Contributions, updated net-zero targets, energy transition plans, fossil fuel phase-out plans, and more.
• The CAS emphasized transparency and accountability in climate commitments and highlighted the UN-backed credibility standard for net-zero pledges4. It also engaged governments, businesses, and local authorities with transition plans to achieve net-zero emissions.
• India’s climate commitments and ongoing debate were also mentioned in the article. India last updated its climate pledges in 2022, committing to reducing emissions intensity by 45% from 2005 levels by 2030 and achieving net-zero emissions by 2070. However, some argue that India’s commitment is insufficient, while others point to India’s low per capita emissions and historical responsibility.

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