NATIONAL UPDATES:
1. New AI platform will connect farmers and scientists over phone, aid in pest control: The Union Government has launched the AI-based National Pest Surveillance System (NPSS) that will help farmers to connect with agriculture scientists and experts on controlling pests using their phones. NPSS aims to reduce the dependence of farmers on pesticide retailers, and inculcate a scientific approach among them towards pest management. NPSS will analyse the latest data on pests using AI tools to help farmers and experts in pest control and management. NPSS will help about 14 crore farmers in the country. The Centre envisages connecting scientists with the fields using the platform. Farmers can take photos of the infested crops or the insect using the NPSS platform and these will reach scientists and experts. This system cures the diseases at the proper time using technology. It will help in accurate diagnosis and accurate treatment. This will build confidence among farmers and production will also increase. It will save the soil too.
2. Mukhyamantri Yuva Udyam Vikas Abhiyan Yojana: Under the Mukhyamantri Yuva Udyam Vikas Abhiyan Yojana, the state government will provide financial support to the state’s young entrepreneurs. Under the Yojana, the state government has set a target of establishing 10 lakh new MSMEs (Micro, Small, and Medium Enterprises) in the state. The government hopes to create 50 lakh employment opportunities directly and indirectly through the Mukhyamantri Yuva Udyam Vikas Abhiyan Yojana.
3. RBI appoints Sukumaran Nair as MD & CEO of Tamilnad Mercantile Bank: The Reserve Bank of India (RBI) has approved the appointment of Salee Sukumaran Nair as the managing director and chief executive officer of Tamilnad Mercantile Bank (TMB), for a period of three years. His last assignment was as deputy managing director and chief credit officer of State Bank of India, until May 2024, where he was responsible for managing the credit portfolio. Nair, a postgraduate in applied electronics, started his banking career in 1987. He joined India’s largest public sector bank, State Bank of India, as a probationary officer. In a career spanning more than 35 years, he has handled various assignments, mostly in the Corporate Accounts Group, managing large corporates.
INTERNATIONAL UPDATES:
1. PM Modi inaugurates 3rd Voice of Global South Summit: Prime Minister Narendra Modi has inaugurated the 3rd Voice of Global South Summit. The Summit is being held in a virtual format, and many leaders of the Global South are participating in the meeting. Theme 2024 – An Empowered Global South for a Sustainable Future The Voice of Global South is an Indian concept rooted in the ancient Indian philosophy of Vasudhaiva Kutumbakam. It provides a platform for the countries of the Global South to raise issues that are vital to them.
2. India & Israel join hands for new water technology centre at IIT Madras: India and Israel have joined hands for the establishment of a new water technology centre at IIT-Madras, which is expected to serve as a “key contributor” to India’s efforts to achieve sustainable water supply for all. This tripartite agreement, signed by the Embassy of Israel, IIT Madras, and the AMRUT mission of the Ministry of Housing and Urban Affairs, reflects a shared commitment to address the critical challenges of water management in India. The Center of Water Technology aims to become a hub for innovation, research, and capacity-building in water technologies, particularly focusing on sustainable solutions for urban water supply. To kickstart this initiative, a capacity-building course on ’24/7 Water Supply in Urban Areas’ was organised at IIT-Madras from August 5 to August 8, it added.
3. India Amends Power Export Rules Amid Bangladesh Electricity Supply Concerns: India made changes to its rules about exporting electricity to other countries, in August 2024. These changes were made to protect Indian companies from political risks in countries like Bangladesh. The new rules allow Indian power companies to bring the electricity back to India if there are delays in payments from the countries they supply. One of the companies affected by this is Adani Power, which runs a power plant in Godda, Jharkhand, that sends all its electricity to Bangladesh. Despite these changes, Adani Power has assured that it will continue to meet its commitments to Bangladesh.
OTHER UPDATES:
DEFENCE
1. Germany Joins 18th Member State of United Nations Command in South Korea: Germany’s inclusion in the UNC has faced criticism from China and North Korea, who have historically opposed the command. North Korea views the UNC as a tool for U.S. confrontation, while China is concerned about NATO’s growing influence in Asia. Germany plans to reopen its embassy in Pyongyang, which was closed during the COVID-19 pandemic, and is considering its role within the UNC. The exact duties of German troops in Korea are still being discussed. South Korean Defence Minister Shin Won-sik has welcomed Germany’s involvement as a significant contribution to peace efforts on the Korean Peninsula.
2. India, Sri Lanka Deploy K9s in Exercise Mitra Shakti: Exercise Mitra Shakti is a joint military training exercise between India and Sri Lanka that began in 2012. It focuses on improving the ability of both armies to work together, especially in counter-terrorism operations and providing humanitarian aid. The exercise usually lasts about two weeks and includes tactical drills, cultural exchanges, and opportunities to learn about each country’s military equipment. It strengthens the relationship between the two nations and enhances their ability to respond to challenges in the Indian Ocean region, symbolizing their commitment to peace and stability.
SCIENCE AND TECHNOLOGY
1. About International Earth Science Olympiad: The International Earth Science Olympiad stands out as one of the most successful student-centric initiatives under the REACHOUT (Research, Education, Training, and Outreach) scheme of the Ministry of Earth Sciences. Established in 2003 during the International Geoscience Education Organization Council Meeting in Calgary, Canada, the IESO is an annual competition for secondary school students worldwide. It aims to foster awareness of earth sciences through teamwork, collaboration, the exchange of ideas, and competition. India has been participating in the IESO since 2007 and had the honor of hosting the 10th edition in Mysore.
2. Super Blue Moon: This rare supermoon blue moon, also known as the ‘Sturgeon Moon’ appeared on August 19, 2024. A super moon happens when the full moon is at the closest point to Earth in its orbit. Because the moon is closer, it looks about 14% bigger and 30% brighter than it does when it’s farther away. A full moon occurs when the moon is positioned directly opposite the sun, making the whole side we see fully lit up. The full moon will rise around sunset and set around sunrise, and it will look “full” not just on the main night but also on the nights right before and after.
BANKING AND FINANCE
1. Recent Facilities Launched in Banking & Insurance Sector: Axis Bank launches PRIMUS super-premium credit card with VISA PNB launches PNB ANTAH DRISHTI Braille Debit Card for visually impaired customers DBS Bank India launched “DBS Golden Circle,” a priority banking program for senior citizens. LIC launched LIC’s Yuva Term, LIC’s Digi Term, LIC’s Yuva Credit Life, LIC’s Digi Credit Life term life insurance plans for providing term insurance and safety net against loan repayments RBL Bank becomes first private sector lender to merge UPI and NCMC in RuPay credit cards
2. Recent Penalties imposed on Banks by RBI: Muthoot Finance Limited (1.9 lakh) – for non-compliance with certain provision of KYC Directions, 2016’ issued by RBI. CSB Bank Limited (₹1.86 crore) – For violations, including paying commissions to employees for Non-Performing Assets’ recovery Union Bank of India (₹1.06 crore)- For non-compliance with RBI guidelines on creating a central repository for large exposures and KYC norms. Muthoot Housing Finance Company Limited (₹5 lakh) – For governance-related violations Nido Home Finance Limited (₹5 lakh) – For not ensuring that loan agreements under co-lending arrangements with banks
AWARDS AND HONOURS
1. 70th National Film Awards winners announced: The winners of the 70th National Film Awards were declared August 16. Honouring the best films and cinematic achievements of the year 2022, the awards were announced by the Ministry of Information and Broadcasting (I&B) at a presser in New Delhi. Rahul Rawail was the Chairperson of the Feature Film Jury, Nila Madhab Panda was the Chairperson of the Non-Feature Film Jury and Gangadhar Mudalair was the Chairperson of the Best Writing on Cinema Jury. Actor Rishab Shetty won the Best Actor award in a Feature Film for his scintillating performance in the Kannada folk action thriller, Kantara. The film, which was also directed by Rishab, was also named Best Popular Film Providing Wholesome Entertainment.
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