NATIONAL UPDATES:
1. India to get first national security semiconductor fabrication plant: Under a transformative collaboration with the US, India will get a national security semiconductor fabrication plant that will produce chips for use in military hardware and next-generation telecommunications. The India-US joint project was announced following talks between Prime Minister Narendra Modi and US President Joe Biden in Wilmington. It will be the first-ever India-US semiconductor fabrication partnership. It is the first time the US military has agreed to do a partnership for these highly-value technologies with India and, it is a watershed moment as it is as significant as the civil nuclear deal. The “fab, which will be established with the objective of manufacturing infrared, gallium nitride and silicon carbide semiconductors, will be enabled by support from the India semiconductor mission as well as a strategic technology partnership between, Bharat Semi, 3rdiTech, and the US Space Force.
2. Centre constitutes committee for formulating framework on Repairability Index in Mobile and Electronics Sector: The Department of Consumer Affairs (DoCA), GoI, has constituted a committee of experts under the chairmanship of Bharat Khera, to recommend a robust framework for Repairability Index and to empower consumers and promote sustainable practices within the tech industry.The proposed repair ecosystem will include several important components:The committee will develop policies, guidelines, and regulations to support the Repairability Index and integrate it into existing consumer protection frameworks.The committee is expected to submit its report, along with the proposed framework for the Repairability Index, by November 15, 2024.
INTERNATIONAL UPDATES:
1. FCRA licence of International Cooperative Alliance cancelled: Union Home Ministry has cancelled the FCRA (Foreign Contribution Registration Act) licence of the International Cooperatives Alliance (ICA) for its alleged violation of rules.ICA is the apex body representing cooperatives worldwide and provides knowledge, expertise and coordinated action in the field.Founded in 1895, ICA is one of the oldest non-governmental organizations and has over 1 billion members.
2. India attends first in-person IPEF Supply Chain Council and Crisis Response Network meeting at Washington DC: Indian delegation attended the first in-Person meeting of the Supply Chain Council of the Indo-Pacific Economic Forum (IPEF) for Prosperity held in Washington DC followed by Crisis Response Network meeting.These formal meetings were preceded by Panel discussions on various topics related to supply chain resilience with special focus on the United States initiatives including the creation of dedicated Supply Chain Centre and development of the tool like SCALE. While the US is the Chair, India is the vice Chair of the Supply Chain Council.The Council adopted the one-year work plan detailing the action to be taken by the Council for the entire year. Apart from this, the major achievements were the establishment of three Action Plan Teams pertaining to three sectors, namely Semiconductor; Critical Minerals with a focus on batteries; and Chemicals.After the in-person meeting of the IPEF Supply Chain Council, the Crisis Response Network (CRN) meeting chaired by the Republic of Korea.
3. 25 September – World Pharmacist Day: World Pharmacist Day is observed every year on September 25 to honour and acknowledge pharmacists for their important contributions to enhancing world health.This special day highlights the essential role pharmacists play in improving people’s lives.Theme 2024 – Pharmacists: Meeting global health needWorld Pharmacist Day was established by the International Pharmaceutical Federation (FIP) in 2009. The aim was to recognise and promote pharmacists’ contributions to global health.The first official celebration occurred on September 25, 2010, coinciding with FIP’s founding date in 1912.
OTHER UPDATES:
DEFENCE
1. Defence Minister Rajnath Singh inaugurates 41st Coast Guard Commanders’ Conference: Defence Minister Rajnath Singh has inaugurated the 41st edition of the Indian Coast Guard Commanders’ Conference in New Delhi.The three-day meeting serves as a vital forum to engage in meaningful discussions on strategic, operational, and administrative matters in the backdrop of the evolving geopolitical landscapes and complexities of maritime security.The three-day meeting serves as a vital forum for ICG Commanders to engage in meaningful discussions on strategic, operational & administrative matters in the backdrop of the evolving geopolitical landscapes and, complexities of maritime security.The conference provides a platform for senior ICG leaders to meticulously evaluate key operational, material, logistical, HR development, training, and administrative initiatives undertaken over the past year. They will also deliberate on vital milestones essential for the protection of the maritime interests of the nation.
2. Alok Ranjan appointed as NCRB chief, Amit Garg to head National Police Academy: Senior IPS officers Alok Ranjan has been appointed as the Chief of National Crime Records Bureau (NCRB).While, Amit Garg has been appointed as the Chief of Hyderabad-based Sardar Vallabhbhai Patel National Police Academy (SVPNPA).Ranjan, a 1991-batch Indian Police Service (IPS) officer of Madhya Pradesh cadre, has been appointed as the Director, NCRB for a tenure up to his superannuation on June 30, 2026.He succeeds his service and batchmate Vivek Gogia, who has been repatriated to the AGMUT (Arunachal Pradesh-Goa-Mizoram and Union Territory) cadre.Garg, a 1993-batch IPS officer of Andhra Pradesh cadre, has been appointed as the Director, of SVPNPA for a term up to his retirement on October 31, 2027.Besides them, Praveer Ranjan has been appointed as Special Director General in Central Industrial Security Force (CISF) for a tenure of two years.
BANKING AND FINANCE
1. SEBI imposes Rs 1 crore fine on Jai Anmol Ambani in Reliance Home Finance case: The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 1 crore on Jai Anmol Ambani, the elder son of industrialist Anil Ambani, for not exercising proper due diligence while approving corporate loans at Reliance Home Finance.Additionally, Krishnan Gopalakrishnan, the Chief Risk Officer of Reliance Home Finance, has been fined Rs 15 lakh for similar violations. The two individuals are required to pay the amount within 45 days of the SEBI order.SEBI stated that in February 2019, Jai Anmol, as a non-executive director of Reliance Home Finance, approved unsecured loans of Rs 20 crore each to Visa Capital and Accura Productions, despite the disapproval of other board members.The regulator pointed out that he failed to exercise reasonable due diligence with respect to GPCL (general purpose working capital lending) process. The working capital was lent to other Reliance-Anil Ambani group companies, including Reliance Capital, according to the regulator.
2. S&P retains India’s growth forecast at 6.8%: S&P Global Ratings maintained India’s growth forecast at 6.8 percent while noting that the Reserve Bank of India (RBI) may cut interest rates in October.In its economic outlook for the Asia-Pacific region, S&P also retained its gross domestic product (GDP) growth forecast for the financial year 2025-26 (FY26) at 6.9 percent.In India, GDP growth moderated in the June quarter as high interest rates tempered urban demand, in line with our projection of 6.8 per cent GDP for the full financial year 2024-25.In FY24, India’s economic growth rate reached an impressive 8.2 per cent.
3. ADB Approves Support to Improve Water Security and Management in India: The Asian Development Bank (ADB) has approved a $50 million loan to improve water resources management, access to water, and community resilience to the effects of climate change in the state of Meghalaya, India.The project supports the Meghalaya State Water Policy 2019 which aims to achieve sustainable development, management, and use of the state’s water resources through a participatory approach; reduce vulnerability; and promote integrated water resource management.The project will strengthen the capacity of districts in Meghalaya to manage water resources and introduce water storage structures that will ensure water security while building climate-resilience of communities.The Climate-Adaptative Community-Based Water-Harvesting Project in Meghalaya will help develop a state-wide water-harvesting system (WHS) master plan which will be forward-looking, integrating gender and social inclusion, and taking into account weather patterns and disaster risk management.
4. IDFC FIRST Bank launches Ashva and Mayura Credit Cards: IDFC FIRST Bank has launched the Ashva Credit Card. This new metal credit card, powered by Visa, combines India’s rich cultural heritage with modern sophistication.The Ashva Credit Card offers benefits and features for those who frequently travel and seek luxury experiences. It is crafted from high-quality metal and includes exclusive perks designed for those who appreciate both style and substance.IDFC FIRST Bank has also launched the Mayura Credit Card, adding to its premium metal card range.This new card combines modern travel benefits with a design inspired by Indian heritage, specifically the peacock, or “Mayura.
AWARDS AND HONOURS
1. Rhea Singha wins Miss Universe India 2024 title: Rhea Singha, an 18-year-old from Gujarat, has captured hearts and headlines after being crowned Miss Universe India 2024. Competing against 51 talented finalists, Rhea emerged victorious during the grand finale held in Jaipur, Rajasthan.Miss Universe India 2015, Urvashi Rautela, who served as a judge at the event, crowned Rhea with a special Taj Mahal crown.Pranjal Priya was named the first runner-up, followed by Chhavi Verg in second place.Sushmita Roy and Ruopfuzhano Whiso secured the third and fourth runner-up positions, respectively, showcasing the diverse talent present at the event.
2. Swimmer Pratyasa Ray awarded 32nd Ekalabya Puraskar: Pratyasa Ray, a rising star in swimming, was selected for the prestigious Ekalabya Puraskar for 2024.Ray secured six medals— four gold, one silver and a bronze— in the Khelo India University Games in Guwahati in February this year.Ray will be awarded a cash prize of Rs. 7 lakhs—an increase from the previous Rs. 5 lakhs, along with a citation at the Ekalabya Puraskar award ceremony to be held at a later date.
Sprinter Dondapati Mrutyam Jayaram and badminton player Tanvi Patri will also be felicitated for their remarkable performances in various international and national-level events in their respective fields.Each of the citation winners will receive a cash prize of ₹1.5 lakh, up from ₹1 lakh, along with citations at the award ceremony.
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