NATIONAL UPDATES:
1. Shivraj Singh Chouhan launches AgriSure Fund for Agriculture Start ups: The Union Minister for Agriculture and Farmers Welfare and Minister for Rural Development, Shivraj Singh Chouhan, launched the AgriSURE fund in New Delhi. The Union Finance Minister Nirmala Sitharaman, in her 2022-23 Union Budget speech, announced the creation of a dedicated fund to finance startups for agriculture and rural enterprises. The AgriSure Fund or Agri Fund for Start-ups & Rural Enterprises is a Category -II Alternative Investment Fund (AIF) registered with the Securities Exchange Board of India (SEBI). The fund will be managed by NABARD. It will be under the regulation of the capital market regulator SEBI. The total corpus of the AgriSure Fund will be Rs 750 crore. The government of India, through the Ministry of Agriculture and Farmer Welfare, will contribute Rs 250 crore, NABARD will contribute Rs 250 crore, and banks, insurance companies, private investors, etc., will invest the rest of the amount.
2. PM Modi virtually launches Jal Sanchay Jan Bhagidari initiative: Prime Minister Narendra Modi virtually launched the Jal Sanchay Jan Bhagidari initiative in Surat, Gujarat in the presence of Union Minister of State for Jal Shakti CR Patil and Gujarat Chief Minister Bhupendra Patel. The Jan Sinchay and Jan Bhagidari Initiative is a joint scheme of the Union Ministry of Jal Shakti and the Gujarat government. The initiative aims to enhance the state’s water conservation efforts by constructing rainwater harvesting structures across the state and recharging the underground aquifers. The initiative aims to construct around 24,800 rainwater harvesting structures across the state. The initiative seeks to build upon the Union Ministry of Jal Shakti’s “Jal Shakti Abhiyan: Catch the Rain” scheme.
INTERNATIONAL UPDATES:
1. Telangana signs MoU for World Trade Centre at AI City : Telangana government has signed an MoU with the World Trade Centres’ Association for the establishment of a World Trade Centre in the proposed AI City near Hyderabad. The WTC at AI City will feature 1 million square feet of built-up space to house firms at the forefront of AI and emerging technologies. World-class office spaces, trade services, training facilities, retail and entertainment zones, co-living spaces, a luxury hotel and primary healthcare facilities will form part of the campus, in line with a vision to develop an integrated mini smart city embodying the walk-to-work concept. The event featured more than 2,500 delegates, over 20 renowned speakers from around the world and provided a forum for major announcements, including the AI City.
2. World’s 1st breeding centre for Asian King Vultures inaugurated in UP: Uttar Pradesh Chief Minister Yogi Adityanath has inaugurated the Jatayu Conservation and Breeding Centre in the Bharivaisi, Campierganj Range of the Gorakhpur Forest Division. It is the world’s first conservation and breeding centre for the Asian King Vulture or the red-headed vulture. The Uttar Pradesh Forest Department, in collaboration with the Bombay Natural History Society, has established the Jatayu Conservation and Breeding Centre in Maharajganj. The Jatayu Conservation and Breeding Centre spread over 1.5 hectares of land in the Gorakhpur Forest division, was built for Rs 2.8 crore. The centre has multiple bird cages, a nursery for juveniles, a hospital and recovery facility for birds needing medical help, and a food processing centre.
3. India emerges as second-largest global 5G smartphone market, overtakes US: According to a new report from Counterpoint Research, India has emerged as the world’s second-largest market for 5G smartphones, trailing only behind China. 5G smartphones are becoming increasingly prominent across various price ranges in India. India became the second-biggest 5G handset market during the first half, overtaking the US. The strong shipments from Xiaomi, Vivo, Samsung, and other brands in the budget segment were the main reasons for this trend. China maintains the leading position with a 32 per cent share of the global 5G smartphone market, while India holds 13 per cent.
4. 7th September – International Day of Clean Air for Blue Skies: The International Day of Clean Air for Blue Skies is commemorated annually on 7 September. Objective – To raise awareness and drive action on combating air pollution. By resolution 74/212 of 22 January 2020, the UN General Assembly (UNGA) designated the Day to emphasize the need to make further efforts to improve air quality, including reducing air pollution, to protect human health. According to the Health Effects Institute, there were 8.1 million deaths due to air pollution in 2021. Poor air quality is the biggest external threat to health, according to the Air Quality Life Index (AQLI).
OTHER UPDATES:
DEFENCE
1. INS Tabar participates in 22nd Indo French VARUNA naval exercise in Mediterranean: The Indian Navy’s frontline warship INS Tabar participated in the 22nd edition of India-France Bilateral Exercise VARUNA in the Mediterranean Sea. The Indian Navy was represented by the shipborne helicopter LRMR Aircraft P8I, whereas the French side was represented by FS Provence, Submarine Suffren, Aircraft F20, Atlantique 2, fighters MB339, and helicopters NH90, Dauphin. VARUNA highlights the commitment of Indian and French Navies towards enhancing interoperability through collaborative efforts. The bilateral exercise VARUNA began in 2001 to strengthen the India-France relationship and has evolved significantly over the years towards exchanging best practices.
SPORTS
1. Nitika wins silver medal in women’s 62 kg freestyle category at U20 World Championships: In wrestling, Nitika won the silver medal in the women’s 62 kg freestyle category at the U20 World Championships in Pontevedra, Spain. She lost to Ukrainian wrestler Iryna Bondar 1-4 in the final. Last year, Nitika won a gold medal at the U20 Asian Championships. Neha clinched the bronze medal, beating Hungarian grappler Gerda Terek 10-8 in the women’s 57 kg freestyle division. She had won the yellow metal in the U17 World Championships last month.
2. Harvinder, Preeti named India’s flag-bearers for Paralympics closing ceremony: Gold medal-winning archer Harvinder Singh and sprinter Preeti Pal, who made history by becoming the first Indian woman to win two medals at the Paralympics, have been named India’s flag bearers for the closing ceremony of the Paris Paralympic Games. Harvinder, 33, etched his name in history as the first Indian archer to clinch a gold at the Paralympics, adding to the bronze he secured in Tokyo in 2021. Preeti, 23, achieved a milestone by securing bronze medals in the women’s T35 100m and 200m races, with personal best times of 14.21 and 30.01 seconds, respectively. Satya Prakash Sangwan, the chef de mission of the Indian contingent, highlighted the significance of their achievements and their impact on future generations.
3. Navdeep Singh wins gold medal at the Paris Paralympics: Navdeep Singh won a gold in the men’s javelin throw F41 class at Paris 2024 with a new Paralympic record of 47.32m to register India’s first-ever medal in the category. Navdeep’s medal-winning throw eclipsed the previous Paralympic record of 47.13m, set by Sun Pengxiang of the People’s Republic of China at Tokyo 2020. Although Sadegh Beit Sayah of the Islamic Republic of Iran pipped the Indian athlete with a throw of 47.64m in his penultimate attempt, he was later disqualified due to a breach of rules pertaining to unsporting or improper conduct.
4. India secures record 29 medals at Paris Paralympics 2024: The Indian contingent concluded its historic Paris Paralympics campaign with 29 medals, including seven gold, nine silver, and 13 bronze medals, marking the country’s best performance in the competition’s history. India also crossed the 50-medal mark in Paralympic Games history with this impressive performance. With this landmark achievement, India has surpassed its previously most successful campaign at the Tokyo 2020 Paralympics, where they secured 19 medals, including five golds, eight silver, and six bronze medals. A record 84 para-athletes represented the tricolour from August 28 to the conclusion of the event, competing across 12 disciplines, compared to just nine in Tokyo 2020. India also made its debut in three sports in Paris: paracycling, para rowing, and blind judo.
SCIENCE AND TECHNOLOGY
1. Ashwini Vaishnaw, Anil Kapoor among Times 100 most influential people in AI: Union Minister of Electronics and Information Technology, Ashwini Vaishnaw and actor Anil Kapoor are among Indians who have been honoured in Time magazine’s prestigious list of the 100 “Most Influential People in AI 2024”. The list highlights the most impactful figures in the field of artificial intelligence (AI). The list features a diverse group of global figures, from tech titans to researchers, policymakers, and artists. Some of the most prominent names include
2. India successfully carries out launch of Agni-4 ballistic missile at Chandipur: India has carried out a successful launch of an Intermediate Range Ballistic Missile, Agni-4, from the Integrated Test Range at Chandipur in Odisha. In April this year, India successfully tested the new-generation nuclear-capable Agni-Prime ballistic missile from the Abdul Kalam Island off the coast of Odisha. It met all the trial objectives, validating its reliable performance. The Agni missiles are long-range, nuclear weapons-capable surface-to-surface ballistic missiles developed by India.
BANKING AND FINANCE
1. Max Life enters into bancassurance partnership with CSB Bank: Max Life Insurance Company Ltd. (Max Life) has entered into a bancassurance partnership with CSB Bank (CSB), a private sector bank in India. The partnership plans to incorporate Max Life’s insurance products into CSB Bank’s channels, giving customers easy access to insurance alongside banking services. CSB Bank is one of Kerala’s oldest private banks, with 801 branches in the country. This collaboration uses the strengths of both Max Life and CSB Bank to boost insurance reach and market growth, aligning with their strategic goals.
2. Paysharp received final authorisation from RBI to act as a payment aggregator: Chennai based Fintech Paysharp has received final authorisation from the Reserve Bank Of India (RBI) to act as a payment aggregator (PA). Paysharp is an existing PA, which received RBI final authorisation on 30th August 2024 followed by the in-principal PA license on December 2022. Paysharp is a 5 years old startup, raised two rounds of funding sum of 23 crores, last funding round was on March 2023 with the valuation of 200 crores. Paysharp holds ISO 27001:2022 and SOC 2 accreditations.
With RBI’s final PA authorization, Paysharp is part of Indi’s Payment System, it helps Paysharp to extend to more merchants. Paysharp is one of authorised Payment Aggregator from Tamil Nadu. As on date RBI has authorized 36 payment aggregators including Razorpay, Cashfree and Stripe.
3. AU Small Finance inks pact with United India Insurance Co for distribution of insurance products: AU Small Finance Bank has partnered with state-owned United India Insurance Company (UIIC) to distribute general insurance solutions to the bank’s customers. It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more. This collaboration positions AU SFB as a preferred choice for its diverse customer base across 21 states and 4 union territories, offering reliable and affordable general insurance solutions. The partnership leverages UIIC’s vast network of branches in over 1,000 tier 2 and tier 3 locations, aligning with AU SFB’s expanding infrastructure and growing customer portfolio.
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