NATIONAL UPDATES:
1. Government extends tenure of Pradeep Singh Kharola as CMD of ITPO: The appointments Committee of the Cabinet has extended the tenure of Retired IAS officer, Pradeep Singh Kharola as Chairman and Managing Director of India Trade Promotion Organization. The Committee has given an extension till 19th October 2025. Kharola will also continue to be chairman of the National Recruitment Agency and Director General of the National Testing Agency (NTA).
2. What is a Zoonotic Disease?: The root of the Zoonoses word is the Greek word “Zoon” and “nosos”. In Greek “Zoon” means animal, and “nosos” means illness. Thus, Zoonoses refers to a disease that spreads from vertebrate animals to humans and vice versa. Vertebrates are animals with a backbone and a central nervous system partly enclosed within the backbone. Vertebrates include mammals (like humans), amphibians, birds, reptiles, and fish.
INTERNATIONAL UPDATES:
1. Bajaj launches world’s first CNG motorbike: Pune headquartered Bajaj Auto has launched the world’s first CNG powered motorcycle. Priced between Rs 95,000 and Rs 1,10,000, the bike will be available across the country in a phased manner. Union minister of Road Transport Nitin Gadkari who unveiled the bike talked about the Centre’s commitment to green and clean technology. India’s automobile industry is the third largest in the world. “Our automobile industry contributes around Rs 3 lakh crore in terms of GST and employs around 4 crore people. Called Freedom, the CNG powered bike has a 2-kg CNG cylinder and a 2-litre petrol tank. The bike, which has a 125 cc engine, has the longest seat length and state of the art technology. The bike, which can switch to petrol when gasoline runs low, has been through 11 safety tests. It will be available in Indian markets in a phased manner.
2. Masoud Pezeshkian elected as the new President of Iran: Reformist and moderate leader, Masoud Pezeshkian has been elected as Iran’s new president. The Interior Ministry of Iran declared him the winner of the presidential run-off against rival Saeed Jalili.. In the run-off presidential election, Masoud Pezeshkian secured 53.7 per cent of the votes, and Jalili got 44.3 per cent. The presidential election was necessitated in Iran after the death of President Ebrahim Raisi, foreign minister Hossein Amir-Abdollahian, in a helicopter crash on 19 May 2024. The term of the Iranian President is four years, and he is eligible for re-election.
3. Who is Keir Starmer, the next British Prime Minister?: The Labour Party won a huge majority in the recent government elections, which means that Keir Starmer will be the next Prime Minister of the United Kingdom. The Conservative Party was thrown out, and Labour won 410 of the 650.
OTHER UPDATES:
DEFENCE
1. Annual defence production hits record high of approx. Rs 1.27 lakh crore in FY24: Ministry of Defence has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24. As per the data received from all Defence Public Sector undertakings (DPSUs), other PSUs manufacturing defence items and private companies, the value of defence production in the country has gone up to a record-high figure i.e., Rs 1,26,887 crore, reflecting a growth of 16.7% over the defence production in F24. The value of defence production in FY 2022-23 was Rs 1,08,684 crore.Of the total value of production (VoP) in 2023-24, about 79.2% has been contributed by DPSUs/other PSUs and 20.8% by the private sector. The feat has been achieved due to the policy reforms/initiatives and ease of doing business brought in by the Government in the last 10 years with focus on attaining self-reliance. In the last five years (since 2019-20), the value of defence production has been increasing steadily, and grown by over 60%.
2. India-Russia JV Completes AK-203 Rifle Production Phase: After working together for a while, India and Russia have finished the first part of their joint venture to make AK-203 assault rifles. As part of the larger “Make in India” and “Atmanirbhar Bharaj Shakti Bharat” campaigns.
SCIENCE AND TECHNOLOGY
1. India to host 5G, 6G and Emerging Technologies Hackathon in September: India will host the 5G, 6G, and Emerging Technologies Hackathon in September this year alongside the ‘WTSA24 (World Telecommunication Standardization Assembly) Outreach Sessions’. The initiative aims to bring together innovators, industry leaders, and academics to explore the frontiers of next-generation telecom technologies. The hackathon will serve as a hub for cutting-edge innovation in telecommunications. Focused on advancing technologies like 5G and 6G, the event will attract participants from industry, academia, and startups, all aiming to showcase pioneering solutions.
During the 30-hour event to be held in dedicated 5G labs in Delhi, Hyderabad, and Bengaluru, participants will collaborate in a dynamic environment to develop their ideas.
2. What is Aphelion?: The Earth hit aphelion in July of this year. This is the point in its orbit where it is farthest from the Sun. This event happens once a year and marks an important but little-known part of how our planet’s.
BANKING AND FINANCE
1. Shriram Life Insurance launched Deferred Annuity Plan: Private sector life insurer Shriram Life Insurance Company has launched a Deferred Annuity Plan aimed at providing a steady retirement income for customers. With an annuity plan starting at Rs 60,000 a year, the entry age for the plan is from 40 to 75 years and it includes payable with or without Return of Purchase Price. Deferment period is from 5 to 10 years after which annuity payments would commence. The Shriram Life Deferred Annuity Plan aims to fill this gap by providing an income stream and life cover, ensuring financial support for customers and their spouses without relying on their children or others. Its affordable rates cater to entrepreneurs not covered under social security schemes.
2. RBI imposes Rs 1.31 Cr penalty on PNB: The Reserve Bank of India has imposed a monetary penalty of Rs 1.31 crore on Punjab National Bank for non-compliance with certain directions related to KYC and ‘loans and advances. The Reserve Bank said it conducted a statutory inspection of the bank concerning its financial position as on March 31, 2022. This penalty was imposed for non-compliance with RBI directions regarding ‘Loans and Advances: Statutory and Other Restrictions’ and the ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’. RBI has also cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position. On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).
AWARDS AND HONOURS
1. Why was Foxconn Chairman Young Liu awarded the Padma Bhushan?: Foxconn, headquartered in Taiwan, is the world’s largest contract manufacturer, assembling about 70 per cent of all iPhones. In the past year, Foxconn has invested heavily in expanding its presence in India, particularly in the southern regions. This expansion is part of a broader strategy to reduce reliance on Chinese manufacturing and capitalise on the growing opportunities in the Indian market.
2. Agri-entrepreneur Sopna Kallingal received Spice Award 2024: Sopna Kallingal of Kallingal Plantation, Thrissur, has received Spice Award 2024, instituted by ICAR-Indian Institute of Spices Research. The award has been given to her for her initiatives in enterprise diversification and integrated crop management strategies, promoting a sustainable spice-based cropping system.
Kallingal plantation has a diverse range of crops, embodying a dedication to enterprise diversification and agriculture innovation, according to the award citation. The priority crop in the Kallingal Plantation is nutmeg. However, through an intercropping method, the plantation has optimised space and productivity, integrating nutmeg trees, coconut palms, areca nut and black pepper vines.
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