Current affairs 11 September 2023

Switzerland ranked No. 1 in the World Best Countries Report 2023.

• Switzerland has once again claimed the title of the world's best country in 2023, according to the latest World Report's annual Best Countries rankings.
• This marks Switzerland's second consecutive year at the pinnacle and its sixth time overall as the No. 1 nation on the list.
• The rankings are Canada at No. 2, Sweden at No. 3, Australia at No. 4, the United States at No. 5, and India at No. 30.
• The United States has slipped one spot compared to its 2022 ranking.

Indore ranked first in Swachh Vayu Sarvekshan 2023.

• Indore secured the first rank followed by Agra and Thane in the cleanest air in India according to the Swachh Vayu Sarvekshan 2023 (Clean Air Survey) report released in Bhopal by Union Environment Minister Bhupender Yadav.
• Bhopal stood fifth while Delhi took the ninth spot.
• Prime Minister Narendra Modi had announced the intent and plan to improve the air quality in more than 100 cities through a holistic approach.

HSBC India became the first foreign bank in India to launch "ONDC in a Box".

• Hong Kong and Shanghai Banking Corporation Limited became the first foreign bank in India to launch ONDC in a Box, a one-stop-shop proposition for corporates towards seamless enablement on ONDC.
• Aim: To foster an inclusive, competitive, and open network, amplifying its impact across the business spectrum.
• The ONDC is an initiative to build an open, interoperable network on which buyers and sellers can transact without needing to be present on the same platform.

Transnational grid interconnections for "One Sun, One World, One Grid".

• At the 18th G20 Summit, a one-day conference themed Transnational Grid Interconnections for One Sun, One World, One Grid (OSOWOG) convened in New Delhi.
• Aim: To enable nations to harness the abundant energy resources of the sun, particularly as the world transitions toward renewable energy sources.
• It makes round-the-clock renewable energy more cost-effective, reducing the need for energy reserves and ultimately lowering electricity costs for the populace.

WTO to have a fully functional dispute settlement system by 2024.

• The G20 leadership summit declared it will work towards having in place a fully functional dispute settlement system at WTO by 2024.
• There are two main ways to settle a dispute once a complaint has been filed in the WTO.
• First: The countries find a mutually agreed solution, particularly during the phase of bilateral consultations.
• Second: Through adjudication which includes ruling by a panel and if not satisfied, challenging that ruling at the appellate body.