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Daily Current Affairs 28th August 2023: Your guide for daily General Knowledge Preparation

Dear Readers,
This post contains important current affairs of 28th August 2023. It includes all Major National, International, Business, and Sports related current affairs of 28th August 2023. We have briefly explained every current affairs matter to help you further understand your general knowledge. Once you have gone through these current affairs, we would recommend that you try the 28th August 2023 Current Affairs test.

Domestic News

1. Kolkata Introduces Early Air Quality Warning System, Becomes India’s Third City to Do So

  • Kolkata has made a significant advancement by implementing an Air Quality Early Warning System (AQEWS), devised by Pune’s Indian Institute of Tropical Meteorology.
  • This system provides both instantaneous air pollution information and future predictions, aiming to better prepare and execute actions to mitigate the rising air pollution levels in the metropolis.
  • Utilizing information from 420 national air quality stations and satellites, the AQEWS aims for a full-fledged and unified approach to assessing air quality.

2. Indian Air Force Participates in BRIGHT STAR-23 in Egypt For the First Time

  • A delegation from the Indian Air Force has set out on a landmark voyage by partaking for the first time in Exercise BRIGHT STAR-23, a biennial tri-service drill held at Cairo (West) Air Base, Egypt, from August 27 to September 16, 2023.
  • The Indian assembly for this exercise is remarkable and includes five MiG-29s, two IL-78s, two C-130s, and two C-17s. It also consists of personnel from the elite Garud Special Forces and members from Squadrons 28, 77, 78, and 81.
  • The event sees participation not only from India but also from other distinguished countries like the USA, Saudi Arabia, Greece, and Qatar, underlining a commitment to enhance international cooperation and shared operational understanding.

Financial Sector News

3. Airtel Payments Bank Collaborates with Frontier Markets and Mastercard to Empower 100,000 Women-Run Businesses

  • In a joint venture with Frontier Markets and Mastercard Center, Airtel Payments Bank has rolled out an impactful initiative named She Leads Bharat:Udyam. The program aims to uplift women entrepreneurs by extending learning and earning avenues.
  • The collaborative program, involving private, social, and philanthropic sectors in banking and insurance, aims to provide a digital-first model to improve income streams for women-run small businesses.
  • Initially, the program is designed to positively impact women entrepreneurs in the states of Rajasthan and Uttar Pradesh.

4. RBI Gives Green Light to Akola Merchant Co-operative Bank and Jalgaon Peoples Co-operative Bank Merger

  • The Reserve Bank of India has sanctioned the union of Akola Merchant Co-operative Bank with The Jalgaon Peoples Co-operative Bank, effective from August 28.
  • Branches of Akola Merchant will be integrated as Jalgaon Peoples’ branches, beginning August 28, with the aim to optimize customer service under a single organizational framework.
  • This approval follows another recent authorization by the RBI for merging Twin Cities Co-operative Urban Bank Ltd with Kranti Co-operative Urban Bank Ltd, indicating a wave of such consolidations in the co-op banking sector.

Industry Updates

5. Zepto Becomes India’s First Unicorn in 2023 with a $1.4 Billion Valuation

  • Zepto, an online grocery delivery venture, has successfully garnered $200 million in its latest Series E fundraising, hitting a market valuation of $1.4 billion, making it India’s first unicorn for 2023.
  • StepStone Group, a U.S.-based private investment firm, led the fundraising round, marking their first-ever direct investment in an Indian enterprise. They were joined by consumer-centric VC firm Goodwater Capital.
  • Co-founders Aadit Palicha and Kaivalya Vohra, both Stanford dropouts, launched Zepto in 2021. Their startup previously secured $200 million in a 2022 Series D round led by Y Combinator’s Continuity Fund, valuing them at $900 million at that time.

Honors and Recognitions

6. SVAMITVA Scheme Wins 2023 National Award for E-Governance

  • The Ministry of Panchayati Raj’s SVAMITVA Scheme has been awarded the distinguished National Award for e-Governance 2023 (Gold) for its pioneering use of innovative technologies to provide citizen-focused services.
  • The award was conferred during the 26th National Conference on e-Governance in Indore, Madhya Pradesh, organized by the Department of Administrative Reforms and Public Grievances.
  • The SVAMITVA Scheme aims to give property ownership rights to individuals in rural inhabited areas. Utilizing advanced drone and GIS technologies, the initiative provides Property Cards that allow rural property owners to leverage their assets.

Sports News

7. Neeraj Chopra Becomes First Indian to Win Gold at World Athletics Championships

  • Neeraj Chopra has set a new benchmark by becoming the first Indian to win gold in men’s javelin throw at the World Athletics Championships in Budapest, Hungary.
  • Chopra’s standout performance included a remarkable throw of 88.17 meters on his second try, affirming his global competitiveness.
  • Pakistani athlete Arshad Nadeem won the silver with a season’s best of 87.82m, while the bronze went to the Czech Republic’s Jakub Vadlejch with 86.67m. Additionally, other Indian athletes Kishore Jena and DP Manu also performed well, finishing fifth and sixth respectively.

8. HS Prannoy Wins Bronze in BWF World Badminton Championships 2023

  • Indian badminton player HS Prannoy secured the bronze medal in the men’s singles category at the prestigious BWF World Badminton Championships 2023. Prannoy faced elimination during the semi-finals against Thailand’s Kunlavut Vitidsarn in a match held in Copenhagen, Denmark.
  • HS Prannoy etched his name in Indian badminton history by becoming only the fifth Indian men’s singles player to clinch a medal at the BWF World Badminton Championships. Among his compatriots, Kidambi Srikanth remains the sole player to reach the men’s singles final, achieving this feat in 2021.
  • Prannoy’s win followed another commendable performance by Indian women’s doubles pair Ashwini Ponnappa and N Sikki Reddy, who clinched bronze at the same event.
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