NATIONAL UPDATES:
1. Rapido becomes unicorn with fresh $120 million funding: Ride-hailing startup Rapido has raised a funding of $120 million Capital in its latest Series E funding round led by its existing investor West Bridge, thus making it the latest company to join the coveted unicorn club. The investor poured in the fresh capital through three of its related entities – Setu AIF Trust, Konark Trust, and MMPL Trust, as per regulatory filings. Rapido is the third Indian startup to become a unicorn this year after fintech Perfios and AI upstart Krutrim. The firm’s operating revenue surged 3X to ₹443 crore during FY23. The steep growth in scale also caused a 54 per cent spike in losses which stood at ₹675 crore in FY23.
2. India Ranks 39th in Travel & Tourism Development Index 2024: India is ranked 39th among 119 countries, according to the Travel and Tourism Development Index 2024 report published by the World Economic Forum. As per the UNWTO barometer for May 2024, there were 975 million international tourist arrivals around the world in 2022, wherein India recorded 14.3 million international tourist arrivals that represented 1.47 per cent of the international inbound tourism market share. The share of India’s international tourist arrivals in Asia and the Pacific will be 15.66 per cent in 2022. India’s scores have improved in three areas: prioritisation of travel and tourism, safety and security, and health and hygiene.
3. State Conclave on Yuga Yugeen Bharat Museum inaugurated in New Delhi: Union Minister of Culture and Tourism, Gajendra Singh Shekhawat has inaugurated a three-day ‘State Museum Conclave on the upcoming Yuga Yugeen Bharat Museum’, organized by the Ministry of Culture at Bharat Mandapam, New Delhi. This three-day gathering aims to foster collaboration among State Museums and the Central Government in realizing the Prime Minister, Narendra Modi’s vision for the ‘Yuga Yugeen Bharat Museum’ that aims to exemplify global best practices.
4. 1 August – National Mountain Climbing Day: National Mountain Climbing Day is observed on August 1. It was initiated to honour Bobby Matthews and his companion Josh Madigan for successfully scaling all 46 peaks of the Adirondack Mountains, located in Northeastern New York.
National Mountain Climbing Day was founded in 2015 to celebrate Bobby Matthews and Josh Madigan, who successfully climbed all 46 Adirondack peaks. On August 1, 2015, the duo summited the final peak, Whiteface Mountain.
INTERNATIONAL UPDATES:
1. KIIT DU Awarded Prestigious UN ECOSOC Special Consultative Status: KIIT Deemed to be University has been granted the distinguished Special Consultative Status by the United Nations Economic and Social Council (UN ECOSOC), recognizing the University’s substantial contributions to the Sustainable Development Goals (SDGs). From a pool of 476 applications around the World, only 19 organizations, including KIIT DU, were selected for this prestigious honour. The status was conferred during the UN ECOSOC management segment meeting held on July 23, 2024, at the United Nations Headquarters in New York. This recognition underscores KIIT’s unwavering commitment to the United Nations’ Agenda 2030 and the SDGs. Attaining Special Consultative Status marks a significant milestone, positioning KIIT among a select group of universities globally that have earned this esteemed distinction.
2. 1 – 7 August – World Breastfeeding Week: World Breastfeeding Week is a global healthcare event celebrated annually from August 1st to 7th. World Breastfeeding Week (WBW) is a global campaign to raise awareness and galvanise action on themes related to breastfeeding. Theme 2024 – Closing the gap: Breastfeeding support for all WBW is celebrated every 1-7 August in commemoration of the 1990 Innocenti Declaration. WBW started in 1992, with annual themes including healthcare systems, women and work, the International Code of Marketing of Breastmilk Substitutes, community support, ecology, economy, science, education, and human rights.
OTHER UPDATES:
DEFENCE
1. Lt Gen Sadhna Saxena Nair becomes first woman DG Medical Services (Army): Lt Gen Sadhna Saxena Nair assumed the office of Director General Medical Services (Army), becoming the first woman to be appointed to this prestigious position. Prior to this, she was the first woman to hold the post of DG Hospital Services (Armed Forces) on promotion to the rank of Air Marshal. Lt Gen Nair graduated from the Armed Forces Medical College, Pune with a distinguished academic record and was commissioned into the Army Medical Corps in December 1985. For her meritorious service, she has been awarded the Air Officer Commanding-in-Chief, Western Air Command and Chief of the Air Staff Commendations as well as Vishisht Seva Medal by the President of India.
2. IAF set to host largest international air exercise ‘Tarang Shakti’: India is set to host its first multinational air exercise, ‘Tarang Shakti 2024’, in two phases starting on August 6th in Sular, Tamil Nadu. Around 30 countries will participate, with ten countries bringing their fighter aircraft.
The exercise aims to showcase India’s defence capabilities and enhance cooperation among the participating militaries. The first phase will be held from August 6th to 14th in Sular, Tamil Nadu, and the second phase from August 29th to September 14th in Jodhpur, Rajasthan. The ten countries bringing their aircraft include Australia, Bangladesh, France, Germany, Greece, Spain, the United Arab Emirates, the United Kingdom, the USA, and Singapore. Eighteen other countries will attend as observers. India will display its indigenous fighter aircraft and equipment, including the Tejas, Rafale, Mirage 2000, Jaguar, and MIG 29.
SPORTS
1. Swapnil Kusale earns third bronze medal for India in shooting: Swapnil Kusale clinched his first Olympic bronze and third medal for India in the 50m rifle 3 positions event in the Summer Olympics games being held in Paris. Liu Yukun from China bagged the gold with 463.6 points, while Serhiy Kulish of Ukraine won the silver medal scoring 461.3. Kusale scored an aggregate of 451.4 in six rounds. He had finished seventh in the qualification. The last time a 50m rifle shooter made it to the Olympic finals was in 2012 London when Joydeep Karmakar finished fourth in 50m rifle prone event, a discipline which has been discontinued at the Olympics.
2. Rohan Bopanna announces retirement from Tennis: Rohan Bopanna, from Karnataka, one of India’s most accomplished tennis players, has announced his retirement from representing India in international competitions following his exit from the Paris 2024 Olympics. This marks the end of an era for Indian tennis, as Bopanna has been a stalwart for the country for over two decades.
Bopanna’s Olympic journey came to an end in the men’s doubles first round, where he partnered with N. Sriram Balaji. The Indian duo faced a formidable French pair, Gael Monfils and Edouard Roger-Vasselin, ultimately succumbing to a 7-5, 6-2 defeat.
3. Lt Col Kabilan Sai Ashok, India’s youngest boxing referee at Olympics: A distinguished officer of the Indian Army, Lieutenant Colonel Kabilan Sai Ashok has made history by becoming India’s youngest Olympic referee in boxing at the Paris Olympics 2024. This extraordinary accomplishment highlights his dedication, professionalism, and integrity, embodying the high standards of the Indian Army. Serving as the Joint Secretary at the Services Sports Control Board, Lt Col Ashok’s participation as an Olympic referee showcases his strong commitment to fair play and sportsmanship. His role is crucial in ensuring that matches are conducted with fairness and respect for the rules, upholding the Olympic spirit.
BANKING AND FINANCE
1. Tata Power Solar Systems partners with Bank of India for solar: Tata Power Solar Systems Ltd (TPSSL) has partnered with Bank of India (BOI) to facilitate easy financing for rooftop solar installations and establishment of electric vehicle (EV) charging stations. The partnership is a significant milestone with Tata Power Solar becoming the first solar company to collaborate with BOI for both solar and EV Charging Station financing and strengthening its leadership as a green energy solutions provider. This collaboration supports the government’s initiatives to promote rooftop solar installations, targeting a wide spectrum of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs). Under the PM Surya Ghar Yojana, residential customers seeking to install solar systems up to 3 KW can avail loans up to Rs 2 lakh with only a 5 per cent margin money requirement.
2. ADB to give $200 mn loan to India for solid waste management in 100 cities: Asian Development Bank and the Government of India recently signed a $ 200 million (about Rs 1,700 crore) loan to improve solid waste management and sanitation in 100 cities across eight states in the country. The signatories to the loan agreement for the Swachh Bharat Mission 2.0 -Comprehensive Municipal Waste Management in Indian Cities Program were Juhi Mukherjee, Joint Secretary, Finance Ministry, and Mio Oka, Country Director for Asian Development Bank (ADB) – India Resident Mission. The objectives of the government’s Swachh Bharat (Clean India) Mission – Urban 2.0 by enhancing sanitation and solid waste management infrastructure, including waste segregation, collection and disposal.
3. July GST mop-up at 3-month high, rises 10.3% to ₹1.82 lakh crore: Goods and Services Tax (GST) collections in July saw a significant increase, totaling Rs 182,075 crore, which marks a 10.3% rise compared to Rs 165,105 crore collected in July 2023.This growth was observed across all categories: Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess. Year-to-date figures for 2024 show a 10.2% increase in GST collections, amounting to Rs 7.38 lakh crore, compared to Rs 6.70 lakh crore in the same period of 2023. Notably, April 2024 saw a record high collection of Rs 2.10 lakh crore, followed by Rs 1.73 lakh crore in May and Rs 1.74 lakh crore in June.
AWARDS AND HONOURS
1. Vedachalam wins V Venkayya Epigraphy Award 2024: An eminent Tamil epigrapher and historian, V. Vedachalam has been conferred the V Venkayya Epigraphy Award for 2024. Vedachalam, who has written and co-written more than 25 books on subjects such as epigraphy, numismatics, temple art, religion, and society. The annual award, instituted by Sunitha Madhavan, the great-granddaughter of Mr. Venkayya, in association with the Tamil Heritage Trust, commemorates the pioneering epigrapher and celebrates exceptional contributions to epigraphy in any Indian language, including discovering new inscriptions, offering fresh interpretations, sharing knowledge through various media, and preserving epigraphic resources.
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