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Important Current Affairs for CLAT-8th May 2023

Bastille Day celebration in Paris, PM Modi accepts French invite for the celebration

Bastille Day celebration in Paris, PM Modi accepts French invite for the celebration: French President Emmanuel Macron invited PM Modi to be the Guest of Honour at the Bastille Day Parade.

Bastille Day celebration in Paris, PM Modi accepts French invite for the celebration

The Ministry of External Affairs announced that French President Emmanuel Macron had extended an invitation to Prime Minister Narendra Modi to be the Guest of Honour at the Bastille Day Parade in Paris on July 14, and that Mr. Modi had accepted. According to an official press release, a contingent from the Indian armed forces will also take part in the parade, which celebrates “liberty, equality and fraternity.”

Bastille Day celebration in Paris: Key Points

This marks the second occasion on which an Indian Prime Minister has been invited to the July 14 celebrations in Paris as a Guest of Honour, with former Prime Minister Manmohan Singh participating in 2009.

PM Modi’s attendance is considered particularly significant as India and France are currently commemorating the 25th anniversary of their strategic partnership, which was established in 1998.

As the Guest of Honour for our National Day, Prime Minister Modi is preparing to visit France, and this will undoubtedly be a pivotal moment for the relationship between our two countries.

Our Ambassador, Emmanuel Lenain, has made it clear that we are proud of our shared achievements and eager to establish a long-term association with India.

First Border Haat Inaugurated at Bholaganj in Sylhet Division between India and Bangladesh

India and France Relations

According to a statement from the Embassy of France, India and France share a steadfast commitment to building upon the progress made during the past 25 years by working towards common goals in Europe as well as the Indo-Pacific region.

July 14th is celebrated in Paris as the day when the Bastille, a symbol of royal authority in France, was stormed, hence the name Bastille Day. There is no established tradition of inviting Heads of State or government for this occasion, and such an invitation is extended only on special occasions.

SEBI has introduced the Legal Entity Identifier (LEI) system

SEBI has introduced the Legal Entity Identifier (LEI) system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts.

The Securities and Exchange Board of India (SEBI) has introduced the Legal Entity Identifier (LEI) system for issuers that have listed or are planning to list non-convertible securities, securitized debt instruments, and security receipts. This unique global identifier for legal entities participating in financial transactions aims to create a global reference data system that uniquely identifies every legal entity that is a party to a financial transaction.

What is Legal Entity Identifier (LEI)?:

The LEI code is a 20-character code that identifies legally distinct entities that engage in financial transactions. Its purpose is to provide a unique global identifier for legal entities participating in financial transactions. The LEI system helps to improve transparency in financial markets and mitigate systemic risk by providing a comprehensive and standardized database of legal entity information.

Mandate by RBI and SEBI:

The Reserve Bank of India (RBI) mandates non-individual borrowers having an aggregate exposure of above Rs 25 crore to obtain the LEI code. SEBI has specified the deadline for issuers having outstanding listed non-convertible securities, securitized debt instruments, and security receipts to obtain and report the LEI code to the centralised database of corporate bonds and depositories respectively by September 1. In addition, issuers who plan to list non-convertible securities, securitized debt instruments, and security receipts after September 1, must report their unique global identifier code to the central database of corporate bonds and depositories during the allocation of the International Securities Identification Number (ISIN).

Authorized issuers and deadline for mapping:

Legal Entity Identifier India Ltd, a subsidiary of the Clearing Corporation of India Ltd, is authorized to issue and manage LEI codes in India. The Global Legal Entity Identifier Foundation (GLEIF) accredits the local operating unit in India for issuance and management of LEI code. The depositories are responsible for mapping the LEI code provided by the issuers with the ISIN at the time of activation of the ISIN for future issuances, with a deadline of September 30.

SEBI’s circular:

SEBI has issued a circular introducing the LEI system, which comes into force immediately. However, the requirement of LEI for issuers proposing to list or having outstanding municipal debt securities will be specified later by SEBI. The circular mandates issuers to obtain and report their LEI code by the specified deadlines and to ensure compliance with the LEI system’s requirements.

Dawki land port in Meghalaya inaugurated by Union Minister Nityanand Rai

Dawki land port inaugurated in Meghalaya: To promote trade and commerce between India and Bangladesh, the Dawki land port was inaugurated by Union Minister Nityanand Rai in Meghalaya.

Dawki land port in Meghalaya inaugurated by Union Minister Nityanand Rai

To promote trade and commerce between India and Bangladesh, the Dawki land port was inaugurated by Union Minister Nityanand Rai in Meghalaya’s West Jaintia Hills district. Meghalaya Deputy Chief Minister Sniawbhalang Dhar was also present during the inauguration. Rai stated that the land port will have an impact on the tourism and business sectors.

The port has been built keeping in mind the requirements of both the countries and will offer various facilities such as a godown, canteen, cargo for tourists, and an electric substation.

Dawki land port inaugurated in Meghalaya: Key Points

The objective is to unite all the agencies and stakeholders under one roof.

The Dawki land port lies in West Jaintia Hills in Meghalaya, approximately 55 km away from the district headquarters, Jowai, and around 84 km from Meghalaya’s capital Shillong.

The adjacent land port in Bangladesh is Tamabil, located in the Sylhet district.

The Dawki land port holds immense value as a trade and transportation hub between India and Bangladesh, providing a convenient passage for goods, people, and vehicles across the border.

Additionally, it will aid passenger movement between the two nations.

Rai underscored the cultural resemblance and the strong bond of brotherhood shared between India and Bangladesh, adding that Dawki’s efficient network will promote progress in health, education, and more.

Dawki land port inaugurated in Meghalaya: Attendees

The event was attended by several notable officials, including India’s High Commissioner to Bangladesh and other senior governmental representatives.

The Union Minister of State interacted with the Meghalaya Frontier of the BSF, discussing the challenges of the Indo-Bangladesh international border and measures being taken to control trans-border crime.

Manipur Violence, Understanding the Conflict in Manipur between Meitei & Kuki

Meghalaya: Important Takeaways For All Competitive Exams

Formation of Meghalaya: January 21, 1972

Chief Minister of Meghalaya: Conrad Sangma

Capital of Meghalaya: Shillong

Three main tribes of Meghalaya: Khasi, Garo, and Jaintia

folk songs and dances of Meghalaya: Shad Suk Mynsiem, Wangala, and Behdienkhlam

Wildlife sanctuaries and National parks in Meghalaya: Balpakram National Park, Nokrek National Park, and Nongkhyllem Wildlife Sanctuary.

Neera Tandon, Indian-American, appointed as Domestic Policy Advisor in Biden Administration

On May 5, 2023, Neera Tandon, an Indian-American, was appointed as the Domestic Policy Advisor in the Biden administration.

Neera Tandon, Indian-American, appointed as Domestic Policy Advisor in Biden Administration

On May 5, 2023, Neera Tandon, an Indian-American, was appointed as the Domestic Policy Advisor in the Biden administration. This move was made with the presidential election in mind, which is set to take place in 2024. Tandon’s appointment is historic, as she became the first Asian-American to lead the White House Advisory Council.

Career Background of Neera Tandon:

Neera Tandon was born in Massachusetts to Indian immigrant parents. She studied at the University of California Los Angeles and Yale University. Tandon has over 25 years of experience working in public policy and has worked with three US presidents. She also headed one of the country’s largest think tanks for almost a decade. Tandon is the former US Secretary of State and a close aide of Hillary Clinton, the Democratic presidential candidate in the 2016 presidential election. She also played a key role in passing the Affordable Care Act during the Obama administration.

Responsibilities as Staff Secretary:

Prior to her new role, Tandon served as Biden’s staff secretary. In this position, Tandon was responsible for processing all paperwork that arrived on the President’s desk. Additionally, she oversaw the decision-making processes in the domestic, economic, and national security teams.

Importance of Domestic Policy Advisor Role:

The role of the Domestic Policy Advisor is critical to the functioning of the White House. The advisor is responsible for developing and implementing the President’s domestic policy agenda. The advisor also serves as a liaison between the President and other government agencies to ensure that the administration’s policies are carried out effectively.

Tandon’s Experience and Expertise:

Tandon’s extensive experience in public policy and her past roles have prepared her for this new role. Her experience in passing the Affordable Care Act during the Obama administration and her time as the head of a think tank demonstrate her ability to develop and implement policies. Tandon’s knowledge and expertise will be invaluable in achieving the Biden administration’s domestic policy goals.

Border Roads Organisation Project Dantak 64th Raising Day

The Border Roads Organisation Project Dantak is an overseas, established on 24 April 1961 as a result of an agreement between Jigme Dorji Wangchuck, and then PM of India Jawahar Lal Nehru.

The Border Roads Organisation Project Dantak is an overseas project under the Ministry of Defence of India, established on 24 April 1961 as a result of an agreement between Jigme Dorji Wangchuck, the third king of Bhutan, and then Prime Minister of India Jawahar Lal Nehru. Project Dantak has been instrumental in developing infrastructure and providing connectivity in remote areas of Bhutan.

History and Milestones:

Project Dantak was primarily tasked with constructing motorable roads in Bhutan. In 1968, it completed the road connecting Samdrup Jongkhar to Trashigang, and in the same year, Thimphu was connected to Phuentsholing by Dantak. These pioneering projects were essential in connecting the remote areas of Bhutan to the rest of the world, promoting trade and commerce, and improving the living standards of people living in the region.

Since then, Project Dantak has undertaken several other notable projects, including the construction of Paro Airport, Yonphula Airfield, Thimphu – Trashigang Highway, telecommunication and hydro power infrastructure, Sherubtse College, Kanglung, and India House Estate. These projects have significantly contributed to the growth and development of Bhutan.

Recruitment and Employment:

Project Dantak recruits local workers from Bhutan as well as Indian workers from adjoining districts along the India-Bhutan border. This approach has not only helped to provide employment opportunities for the local population but has also helped to build a strong bond between India and Bhutan.

Impact and Recognition:

Project Dantak has been instrumental in transforming the infrastructure and connectivity of Bhutan. Its efforts have led to better trade and commerce, improved access to healthcare and education, and a better standard of living for the people of Bhutan. The project has also been recognized for its contribution to the development of Bhutan by the Bhutanese government.

HDFC Bank launched programme for Bharat, to onboard 1 lakh customers

HDFC Bank has launched a retail banking initiative called 'Vishesh' aimed at customers in semi-urban and rural areas. The bank is hoping to attract around 1 lakh new customers through the programme.

HDFC Bank launched programme for Bharat, to onboard 1 lakh customers

HDFC Bank has launched a retail banking initiative called ‘Vishesh‘ aimed at customers in semi-urban and rural areas. The bank is hoping to attract around 100,000 new customers through the programme, which involves increasing its branch network and developing bespoke financial products for the market segment. HDFC Bank plans to add 675 branches in rural and semi-urban areas by 2024, with the total number expected to reach almost 5,000.

HDFC Bank launched programme for Bharat: Key Points

The bank has already created a ‘Classic’ programme for HNI customers, which will be hived off under the new scheme.

Features of the Vishesh programme include personal bankers, discounts on processing fees and access to healthcare.

Furthermore, the bank will engage with rural seniors such as teachers and key officials who are instrumental to village growth.

The program boasts several features, including a personal banker assigned to each member, expandable coverage for up to 8 family members, and up to a 50% discount on gold loan processing fees and a waiver on valuation fees once per year.

Additionally, processing fees for construction equipment, tractors, personal, business, auto, and two-wheeler loans are eligible for up to a 50% reduction.

RBI Study: India’s Green Financing Requirement Estimated At 2.5% Of GDP

HDFC Bank’s programme for Bharat: Benefits

Beyond financial benefits, the program also offers daily Hospicash benefits for up to 5 days, an annual preventive health check-up allowance of up to Rs 3,000, an annual complimentary and cashless health check-up, unlimited TeleHealth consultation, and agritech services such as soil testing, agri advisory, drone spraying, and agri machinery rental available through partnerships.

The program also includes a distinctive customer engagement model where rural seniors such as sarpanches, teachers, and other key officials are acknowledged for their vital contributions to village growth and progress.

World Red Cross Day 2023 observed on 8th May

World Red Cross 2023: World Red Cross and Red Crescent Day is celebrated annually on May 8th to honor the birth anniversary of Henry Dunant.

World Red Cross 2023

World Red Cross and Red Crescent Day is celebrated annually on May 8th to honor the birth anniversary of Henry Dunant, who founded the International Committee of the Red Cross (ICRC) and was the first person to be awarded the Nobel Peace Prize. The Red Cross and Red Crescent Movement is a worldwide humanitarian network that operates in almost every country across the globe. The network offers aid and support to people in need during various emergencies, conflicts, disasters, and other crises. The movement strives to alleviate human suffering, safeguard human dignity, and promote health, peace, and overall well-being.

World Red Cross 2023- Theme

The theme of World Red Cross Day for 2023 is “Everything we do comes from the heart.” The objective is to recognize and pay tribute to the people in our communities who are always ready to provide assistance to those in need, often without receiving any acknowledgment or appreciation. The focus is on honoring those individuals who selflessly extend a helping hand to those in distress, demonstrating the true spirit of compassion and kindness that lies at the heart of the Red Cross movement.

World Red Cross 2023-Significance

The primary objective of World Red Cross Day is to recognize and celebrate the humanitarian work accomplished by the Red Cross and Red Crescent Movement at an international level. It provides an excellent opportunity to educate people about the organization’s principles, mission, and undertakings, and to appreciate the dedication and bravery of its volunteers and employees. World Red Cross Day also emphasizes the significance of humanity, empathy, and unity during times of crisis. It highlights the critical role played by the Red Cross and Red Crescent Movement in offering humanitarian aid and advancing humanitarian values throughout the world.

World Red Cross 2023-History

World Red Cross Day has its origins in the efforts of Henry Dunant, the founder of the International Committee of the Red Cross (ICRC) and the recipient of the first Nobel Peace Prize. The history of World Red Cross Day can be traced back to the establishment of the Red Cross movement itself.

In 1859, Henry Dunant witnessed the suffering of wounded soldiers on the battlefield of Solferino, Italy, during the Second Italian War of Independence. Shocked by the lack of medical care and support, he organized local civilians to provide assistance to the wounded, regardless of their nationality.

World Red Cross Day has its roots in World War I, where the notion of an annual commemoration to honour those who contributed to global peace was initially suggested. The Tokyo conference in 1936 approved the proposal named the “Red Cross Truce,” but the League of Red Cross Societies (LRCS) postponed it until after World War II in 1946. The first-ever Red Cross Day was eventually observed on May 8, 1948.

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