NATIONAL UPDATES:
1. Gati Shakti Vishwavidyalaya in collaboration with Airbus begins its first executive training program for aviation sector: Gati Shakti Vishwavidyalaya in collaboration with Airbus has started its first executive training program for the aviation sector in New Delhi. This three-day program, will be focused on Safety Management Systems for working professionals. The program attracts participants from leading airlines as well as representatives from Airbus and the Ministry of Civil Aviation. This course is also being attended by international professionals, including four participants from Nepal and four from Bhutan. The instructors for the program are leading experts from the industry.
2. Microsoft regains top spot as best employer to work for in India: Randstad: Microsoft has emerged as India’s most ‘attractive employer brand,’ according to the findings of Randstad Employer Brand Research (REBR) 2024. Tata Consultancy Services climbed the rankings this year to emerge as the runner-up, followed by Amazon, which occupied the third spot. Drawing insights from 3,507 respondents in the country, the report reveals that work-life balance, equity, and attractive salary & benefits, are the three most important drivers for the Indian workforce when choosing an employer. Tata Power Company, which was the top brand last year, slipped to fourth rank this year. Another Tata brand, Tata Motors stood fifth. All the top five most attractive companies to work for received high ratings for their financial health and good reputation.
3. Government appoints Harish Dudani as Member in Central Electricity Regulatory Commission: Harish Dudani has been administered Oath of Office and Secrecy by the Hon’ble Minister for Power as Member, Central Electricity Regulatory Commission (CERC). CERC was established by the Government of India under the provisions of the Electricity Regulatory Commissions Act, of 1998. CERC is the Central Commission for the Electricity Act, 2003. Which has repealed the ERC Act, of 1998. Harish Dudani held the post of Principal Judge, Family Court, in the High Court of Delhi. Before this, he held the charge of District Judge (Commercial Court), Additional Session Judge, and Special Judge (PC Act) CBI in the High Court of Delhi.
4. Amit Singh Negi appointed Additional Secretary in PM’s Office: Senior IAS officer Amit Singh Negi has been appointed additional secretary in the PMO as part of a major top-level reshuffle effected by the Centre. A 1999-batch Indian Administrative Service (IAS) officer of the Uttarakhand cadre, Mr Negi is currently joint secretary in the Department of Expenditure under the Union Ministry of Finance. Samir Ashwin Vakil, a 1998-batch Indian Revenue Service (Income Tax) officer, has been appointed director in the Serious Fraud Investigation Office (SFIO) under the Union Ministry of Corporate Affairs for a tenure of five years. Maneesh Garg, Sanjay Kumar and Ajeet Kumar have been appointed deputy election commissioners in the Election Commission of India.
5. Challa Sreenivasulu Setty appointed Chairman of SBI: The Appointments Committee of the Cabinet (ACC) has approved a proposal to appoint Challa Sreenivasulu Setty as Chairman of State Bank of India (SBI), the country’s largest commercial bank, for a three-year term. Setty will be succeeding current chairman Dinesh Khara, whose term ends on August 28 as he will be turning 63, the upper age limit for the SBI’s chairman position. Before this elevation as Chairman, Setty was the SBI Managing Director heading Global Markets & Technology. In June this year, the Financial Services Institutions Bureau (FSIB) recommended the name of Challa Sreenivasulu Setty for being appointed SBI Chairman.
6. DBS Bank CEO Piyush Gupta to step down in Mar 2025; Tan Su Shan to take over: Piyush Gupta, the Indian origin Chief Executive of Singapore’s largest bank DBS Group, will step down in March 2025. He will be succeeded by Tan Su Shan, who was appointed as deputy CEO, in addition to her current role as the group head of institutional banking. Gupta, who took the top position in DBS in 2009 after spending 27 years at Citigroup, was awarded the Public Service Star by Singapore’s President in 2020. During his tenure, DBS was recognized for its use of technology and named the “World’s Best Bank” by publications such as Euromoney and Global Finance.
7. Kailashnathan Sworn in as 25th Lieutenant Governor of Puducherry: Kailashnathan took the oath as the 25th Lieutenant Governor of Puducherry. The oath was administered by the Acting Chief Justice of the Madras High Court, D. Krishnakumar. Kailashnathan, a retired Gujarat cadre IAS officer, is the first full-time Lt. Governor of Puducherry since Kiran Bedi left in 2021.
8. 7 August – National Handloom Day: National Handloom Day is celebrated every year on 7 August to honour the nation’s handloom weavers and to shed spotlight on India’s handloom industry. Notably, this is the 10th Handloom Day in India. The first Handloom Day was celebrated in 2015 by Prime Minister Narendra Modi in Chennai. Now, it is celebrated across the country with a variety of events and activities. The origin of National Handloom Day has its roots back in the Swadeshi Movement of 1905. The objective of the movement was to boycott British goods in favour of Indian-made products. Notably, handloom textiles were one of the essential products that were widely promoted during this time. all States/UTs.
INTERNATIONAL UPDATES:
1. Purandar Highlands exports India’s first GI-tagged fig juice to Poland: Purandar Highlands Farmers Producer Company Ltd has achieved a significant milestone by exporting India’s first GI-tagged fig juice to Poland. This follows the successful export of India’s first commercial consignment of GI-tagged Purandar figs to Hong Kong in February 2023. Purandar Highlands has become the first company to export Indian fig juice to the European market and the first to export commercial quantities of Purandar figs to Hong Kong. The successful export to Poland and Hong Kong has generated interest in these products, indicating a promising global market for Indian figs and fig-based products.
2. India to host World Telecommunication Standardization Assembly 2024 in New Delhi: India will host the World Telecommunication Standardization Assembly (WTSA) 2024 from October 15 to 24 at Bharat Mandapam in New Delhi. The event will be preceded by the Global Standards Symposium (GSS) on October 14, as announced by the Department of Telecommunications (DoT). The theme for GSS-24 is “Charting the Next Digital Wave: Emerging Technologies, Innovation, and International Standards.” Organized by the International Telecommunication Union (ITU), WTSA occurs every four years to “define the work program, working methods, and structure of study groups” for ITU’s Telecommunication Standardization Sector (ITU-T). The assembly is expected to bring together 1,800 to 2,000 delegates from 193 member countries, global standardization bodies, and the telecom/ICT industry.
3. Muhammad Yunus appointed head of Bangladesh’s interim government: Nobel laureate Muhammad Yunus has been appointed as the head of Bangladesh’s interim government. Bangladesh President’s Press Secretary Joynal Abedin made the announcement. The decision to appoint Bangladesh’s interim government head was made during a meeting between President Shahabuddin and the coordinators of the Anti-Discrimination Student Movement. A day after Sheikh Hasina resigned as Prime Minister of Bangladesh and left the country, President Mohammed Shahabuddin announced the dissolution of the country’s parliament to make way for the formation of an interim administration.
OTHER UPDATES:
SPORTS
1. Vinesh Phogat Disqualified Over Weight Issues Before Match: Weight cutting is when athletes lose a lot of weight quickly to meet weigh-in requirements. This often involves methods like sweating a lot and not eating. Athletes might quickly regain weight after the weigh-in to have an advantage during the competition. Weight cutting can be dangerous. It can lead to dehydration and heart problems, and there have been life-threatening incidents. Both the physical and mental health impacts can be severe.
SCIENCE AND TECHNOLOGY
2. New Plant Species Ceropegia Shivrayiana Discovered at Vishalgad: In August 2024, another species of Ceropegia was found at the same location, showing the area’s rich variety of plants. Dr. Kamble, an expert on Ceropegia, confirmed that this new plant could be a distinct species after further study. The discovery of Ceropegia shivrayiana highlights the biodiversity of Vishalgad Fort and the need to protect such ecologically rich areas.
BANKING AND FINANCE
1. SBI approves Rs 25,000 crore fundraising plan via issue of Tier 1 and Tier 2 bonds: The board of India’s largest public sector lender State Bank of India approved a proposal for raising funds of up to Rs 25,000 crore via the issue of Tier 1 and Tier 2 bonds. The bonds will be Basel-lll compliant and SBI plans to raise the amount in INR/USD. The fundraising plan was announced by SBI along with its April-June quarter earnings where the lender reported a standalone net profit of Rs 17,035 crore, up by 0.9% over Rs 16,884.29 crore reported in the year-ago period. It was higher than the Street’s estimates of Rs 16,786 crore. The interest earned during the reported quarter stood at Rs 1,11,526 crore, which was higher by 16% versus Rs 95,975 crore reported in the corresponding quarter of the last financial year. Interest expended by the bank in the April-June quarter stood at Rs 70,401 crore versus 57,041 crore a year ago. This translates into a 23% YoY uptick.
2. IFC, ADB, DEG consortium to invest $275 mn in Fourth Partner Energy: Global investors International Finance Corporation (IFC), the Asian Development Bank (ADB), and Deutsche Investitions (DEG) have invested $275 million in Hyderabad-based renewable energy solutions platform Fourth Partner Energy Ltd (FPEL). The consortium’s investment will infuse capital to fund FPEL’s business expansion plans which include a target portfolio of 3.5 GW of renewable energy assets by 2026. FPEL has an installed base of 1.5 GW of green assets and is set to commission the first phase of its maiden 575 MW wind solar hybrid project under the ISTS (Inter State Transmission System) route, in Karnataka, later this quarter. World Bank’s International Finance Corporation (IFC) is leading the consortium with an investment of $ 125 million, while Asian Development Bank (ADB) is infusing $ 100 million and Germany’s Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is at $ 50 million to complete this round of fundraising.
3. Chola MS General Insurance forges strategic partnership with Mahindra Finance: Chola MS General Insurance Company, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited of Japan, has partnered with Mahindra Finance, one of India’s leading Non-Banking Finance Companies. This collaboration will provide motor and other non-life insurance solutions to over 10 million customers of Mahindra Finance. Leveraging Mahindra Finance’s extensive distribution network across India, Chola MS plans to enrich its general insurance offerings with customized digital solutions. These customer-centric solutions are designed to provide long-term financial protection to customers and their families. Both organizations are committed to delivering excellence through innovation and consistency catering to the diverse needs of the customers.
AWARDS AND HONOURS
1. Rashtriya Vigyan Puraskar Awards 2024: The Indian government has brought back the Rashtriya Vigyan Puraskar, marking the first national awards for scientists since their number was reduced in 2022. On August 7, 2024, it was announced that thirty-three awards would be given out on August 23, which is also National Space Day. This date celebrates the successful Chandrayaan-3 moon landing.
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