• ISRO's next likely Moon mission is in partnership with its Japanese counterpart, a venture that's gathering steam. Lunar Polar Exploration Mission (LUPEX) is a collaborative venture between Japan Aerospace Exploration Agency (JAXA) and the Bengaluru-headquartered Indian space agency. JAXA and ISRO are developing the rover and lander, respectively.
• The rover will carry not only the instruments of ISRO and JAXA but also those of US space agency NASA and European Space Agency (ESA). Vice-Chair of Japan's Cabinet Committee on National Space Policy and Director General, National Astronomical Observatory of Japan, Saku Tsuneta, visited ISRO headquarters here earlier this month and had a meeting with the space agency's Chairman Somanath S. They discussed the progress of the LUPEX mission.

• The Uttar Pradesh Cabinet approved developing 18 Atal Residential Schools along the lines of the Centre-run Navodaya Vidyalayas at a cost of Rs 1,250 crore. The Cabinet, which met at the home of Chief Minister Yogi Adityanath, approved 23 proposals, Parliamentary Affairs Minister Suresh Kumar Khanna told reporters.
• The state government will spend Rs 1,250 crore on the Atal Residential Schools, to come up in all 18 divisions of Uttar Pradesh.

• Women’s Equality Day is observed on August 26 every year to commemorate the right of women to vote in the United States. This year’s (2023) theme for Women’s Equality Day is #EmbraceEquity. Before the Civil War in the United States, the movement for women’s suffrage started.
• Most States in the U.S. by the 1830s had extended voting rights from rich white male property owners to just white men regardless of how much property they owned. The observance of Women’s Equality Day not only commemorates the passage of the 19th Amendment but also calls attention to women’s continuing efforts toward full equality. During Women’s Equality Day the women of the United States are to be commended and supported in their organizations and activities.

• The Ministry of Education's Innovation Cell, in conjunction with the All India Council of Technical Education (AICTE), has announced the launch of the sixth edition of the Smart India Hackathon (SIH) 2023.
• During the event, K. Sanjay Murthy conveyed his excitement for this year's Hackathon. He praised the remarkable efforts of the Innovation Cell, under the leadership of Dr. Abhay Jere, in orchestrating these Hackathons. He also highlighted the recent UNESCO India-Africa Hackathon, where Indian students collaborated with 22 African nations to tackle challenges specific to the African continent.

• The Union Housing and Urban Affairs Ministry named Indore the best city and Madhya Pradesh the best state in the Smart Cities Mission in its India Smart Cities Awards 2022.
• Surat and Agra were named second and third respectively among cities and Tamil Nadu second in states, with the third prize for states shared by Rajasthan and Uttar Pradesh. While 66 winners in different categories were announced, the awards would be presented by President Droupadi Murmu at a ceremony in Indore on September 27. The cities were selected based on their ranking in terms of progress of projects, project outcomes and presentations submitted for the awards.

• The outlook for Germany, often hailed as Europe’s industrial powerhouse, has taken a sharp downturn. The International Monetary Fund (IMF) has projected that Germany will stand as the sole major advanced economy to contract in the current year. This unwelcome distinction underscores a series of challenges that have cast a shadow over the country’s economic landscape.
• Germany’s political landscape is marked by an uneasy three-party ruling coalition, comprising the Social Democrats, the Greens, and the Free Democratic Party (FDP). The coalition, which assumed power in late 2021, faces a deeply contested debate on the measures needed to rejuvenate the nation’s stumbling economy. As the country grapples with economic headwinds, the coalition is at odds over potential remedies.

• The Ministry of Defence (MoD) took a significant step towards bolstering the Indian Navy’s operational capabilities by signing a groundbreaking contract with Hindustan Shipyard Limited (HSL), a state-owned company based in Visakhapatnam.
• The contract entails the acquisition of five Fleet Support Ships (FSS), marking a new era in naval logistics. This pioneering endeavor is set to provide unprecedented advantages to the Indian Navy, enabling prolonged and sustained missions without the need to return to port. The overall cost of this venture is estimated to be approximately 19,000 crore.

• A ‘Committee of Experts to ‘Onshoring the Indian Innovation to GIFT IFSC’ constituted by the International Financial Services Centres Authority (IFSCA) has submitted its report to Chairperson, IFSCA. The main focus areas of the committee were directed toward understanding the reasons for shifting of Indian startups outside India and suggestions to avoid externalization.
• The Committee has inter-alia recommended aligning the tax and regulatory laws within the IFSC with international best practices, to create an environment that actively incentivizes and supports holding company structures.  The committee was chaired by Shri G. Padmanabhan, Former Executive Director, RBI.

• The Competition Commission of India (CCI) has recently taken a stern stance against Bharti Airtel, imposing a penalty of Rs 1 crore for its failure to adhere to the stipulations outlined in Section 6(2) of the Competition Act, 2002. This move comes in relation to Bharti Airtel’s acquisition of a stake in Bharti Telemedia from Lion Meadow Investment Limited, an affiliate entity of Warburg Pincus.
• Imposition of Rs 1 Crore Penalty by CCI: A Wake-Up Call for Compliance in Business Operations. The penalty of Rs 1 crore, as decreed by the CCI, has been imposed under the purview of Section 43A of the Competition Act, 2002. Bharti Airtel, a prominent player in the Indian telecommunications sector, acknowledged the CCI’s action in a regulatory filing dated August 23, 2023.

• In Chess, Magnus Carlsen of Norway beat India’s R. Praggnanandhaa in tie-breaks to win the FIDE Chess World Cup 2023 title at Baku in Azerbaijan. In the final, Carlsen won the World Cup after drawing the second tie-break against Praggnanandhaa. Final score was Carlsen 1.5 and Praggnanandhaa 0.5. While Carlsen got Gold, Praggnanandhaa bagged silver.
• Magnus Carlsen finally managed to win the FIDE World Cup for the first time in his career. He defeated India’s Praggnanandhaa in the final, but not before the 18-year-old teenage prodigy had dragged him through the tie-breaker. Carlsen’s win was confirmed after the second game of the tiebreaker.

Download Daily GK PDF of 26 August 2023