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Current Affairs – August 17, 2023
1. Indian-American economist Raj Chetty was awarded the top Harvard University prize
Raj Chetty, an Indian-American economist, and Michael Springer, a biologist, have been awarded Harvard University’s George Ledlie Prize for their groundbreaking work in their respective fields.
Chetty, a professor of economics at Harvard University, is known for his work on economic mobility. He has used big data to study the factors that influence a person’s ability to move up the economic ladder.
His research has shown that the American Dream is not as attainable as many people believe and that there are significant obstacles that prevent people from achieving upward mobility.
2. Introducing Canara Jeevan Dhara: Tailored Savings Account for Pensioners
Canara Bank has unveiled a specialized savings account aimed at pensioners and those nearing retirement, designed to provide an array of benefits catering to their unique financial needs.
This new offering, known as Canara Jeevan Dhara, extends its advantages to retirees who’ve opted for voluntary or regular retirement.
Through this account, Canara Bank seeks to provide financial security and flexibility to individuals in their post-employment phase.
3. 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 will have elevation changes and 19 corners, including multiple chicanes. It will also offer stunning views of Marina Beach Road and the Bay of Bengal.
The event is scheduled to be held on December 9-10 and will feature the F4 Indian Championship and the Indian Racing League. The SDAT will be investing Rs 42 crore to host the event.
4. Govt of India launched the ‘Meri Maati Mera Desh Campaign
To commemorate 75 years of Independence, various Air Force Stations in and around Delhi celebrated the Azadi Ka Amrit Mahotsav (AKAM) from 09 to 15 August 2023.
The events were organized under the aegis of the ‘Meri Maati Mera Desh Campaign, launched by the Government of India as a continuation of the celebration of AKAM.
One of the key activities of the campaign was the development of an Amrit Vatika (Amrit Garden) in each station by planting 75 saplings of indigenous species.
This was done to replenish mother earth as ‘Vasudha Vandhan’ (reforestation). The saplings were planted by the personnel of the stations, school children, residents of the localities, and panchayat members.
5. Former defense research body chief VS Arunachalam passes away
V S Arunachalam, a prominent scientist and instrumental figure in India’s nuclear program, has died at the age of 87.
He was Known for his leadership roles at the Defence Research and Development Organisation (DRDO), he played a crucial role in shaping India’s defense capabilities.
Arunachalam’s Distinguished Career
V S Arunachalam was a prominent scientist who played a key role in India’s nuclear program and defense capabilities.
He held leadership positions at several prestigious institutions, including the Bhabha Atomic Research Centre (BARC), the National Aeronautical Laboratory, and the Defence Metallurgical Research Laboratory.
6. ADB Approves USD 40.5 Million Loan to Enhance Childhood Development and Maternal Mental Health in Meghalaya
In a significant move towards improving early childhood development and maternal mental health, the Asian Development Bank (ADB) has sanctioned a USD 40.5 million loan for the northeastern Indian state of Meghalaya.
This strategic initiative, supported by the Meghalaya government’s contribution of USD 15.27 million, aims to fortify both home-based and center-based childcare services through the establishment and enhancement of daycare centers known as Anganwadi centers.
7. ‘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.
Pibot’s ability to manipulate flight instruments, understand complex manuals, and react quickly to emergency situations showcases its potential to transform aviation and other industries.
8. Exercise Tarang Shakti
The Indian Air Force’s multi-national exercise, Tarang Shakti, originally scheduled for later this year, has been postponed to the following year.
Defense officials announced that the decision was made to better align with the schedules of participating friendly foreign nations and to ensure maximum participation.
Although the final date remains pending, this rescheduling also accommodates the interest of certain Air Forces aiming to join the exercise.
Tarang Shakti promises to offer Indian pilots a distinctive learning experience. This move follows India’s active participation in various international exercises, including the French Orion exercise and the Bastille Day flypast in Paris, where Indian Rafale fighter jets showcased their prowess.
9. Operation Jericho
The Mizo Rebellion of 1966, also known as Operation Jericho, witnessed the Indian Air Force’s strategic involvement in aiding the Army’s efforts to quell the separatist movement led by the Mizo National Front.
As the rebels sought to gain control over Mizoram, the IAF played a crucial role in regaining control.
Two IAF Squadrons, 29 Squadron, and 14 Squadron were instrumental in the air operations, utilizing aircraft like Toofani and Hunters.
The air attacks, utilizing cannons and rockets, helped the Army regain strategic areas that had declared “independence.” The IAF’s partnership with the Army in this conflict showcases its versatility and vital role in complex military operations.
10. Goa Offers India’s First Free IVF Treatment Service
Goa has set a groundbreaking precedent by becoming the first Indian state to offer free in vitro fertilization (IVF) treatment, alongside assisted reproductive technology (ART) and intrauterine insemination (IUI). Chief Minister Pramod Sawant inaugurated the service at Goa Medical College (GMC).
With IVF costs ranging from Rs 70,000 to Rs 3 lakh per cycle in India, this initiative is a significant relief for individuals struggling with fertility issues.
Over 100 parents have registered with GMC for the free IVF facility, supported through corporate social responsibility (CSR) funds.
The move addresses the growing infertility challenge in India, where 15% of couples are affected, yet limited access and affordability persist.
