Daily GK Update- 11th Mar, 2024

 

NATIONAL UPDATES:

 

1. PM Modi lays foundation stone of “Experience of Spirituality at Chitrakoot Ghat” project in Chitrakoot: Prime Minister Narendra Modi performed Bhoomi Pujan and inaugurated projects worth 118 crore 72 lakh rupees in Madhya Pradesh through video conferencing. These include various projects in Gwalior and Chitrakoot under Swadesh Darshan 2.0 scheme and development work of Amarkantak and Pitambara Peeth Temple Datia under Prasad scheme. PM also laid the foundation stone of the “Experience of Spirituality at Chitrakoot Ghat” project in Chitrakoot.

 

2. Arjun Munda inaugurates agriculture integrated command and control center: Union Minister of Agriculture and Farmers’ Welfare Arjun Munda has inaugurated the Agriculture Integrated Command and Control Centre established at Krishi Bhawan in New Delhi. Aim – To empower the farmers of the country by equipping them with information, services and facilities. The objective of the new initiative is to provide farmers the information about the reality of the farm and also to find out what are the real challenges in the agriculture sector. With the availability of real-time data and its analysis, their problems can be resolved and capacity will be expanded.

 

3. PM Modi unveils 125-feet tall statue of Lachit Borphukan: Prime Minister Narendra Modi has unveiled a 125-foot bronze statue of ‘Ahom general’ Lachit Borphukan in Assam’s Jorhat. The ‘Statue of Valour’ was unveiled by the PM at the Lachit Barphukan Maidam Development Project at Hollongapar near Teok. The height of the statute, built by Ram Vanji Sutar, is 84 feet and it is set on a pedestal of 41 feet, making the structure 125 feet tall. The foundation of the statue was laid by former President Ram Nath Kovind in February 2022.

 

INTERNATIONAL UPDATES:

 

1. India signs free trade pact with 4 European countries: India signed a free trade agreement (FTA) with four European countries, Iceland, Liechtenstein, Norway, and Switzerland. Objective – with a goal of reaching $100 billion in investments in India and one million jobs. In the last two years, India has signed trade agreements with Australia and the United Arab Emirates, and a deal with the United Kingdom is in the final stages as PM Narendra Modi aims to hit $1 trillion in annual exports by 2030. The EFTA countries, which are separate from the European Union, for the first time, the FTA also included a chapter on commitments to human rights and sustainable development.

 

2. Asif Ali Zardari sworn in as Pakistan’s 14th President: Asif Ali Zardari took oath as the 14th President of Pakistan. Chief Justice of Pakistan Qazi Faez Isa administered the oath to the 68-year-old Mr Zardari in a small yet formal ceremony at Aiwan-e-Sadr, the Presidential Palace. Mr Zardari replaces Dr Arif Alvi, who stayed in office for five months after completing his five-year term in September 2023. This is the second time that Mr Zardari has won the presidency, a record for any civilian. Earlier he served as the 11th president of Pakistan from 2008 to 2013 and is one of the four democratically elected presidents to have completed their five-year constitutional term.

 

3. 10 March – International Day of Women Judges: The International Day of Women Judges is celebrated on 10 March every year. The day is dedicated to recognizing the contributions of women judges worldwide. It also serves as a reminder of the importance of women’s participation in all levels of decision-making for the achievement of equality and democracy. The United Nations General Assembly established the International Day of Women Judges on 10 March to promote gender equality and the empowerment of women in the judiciary.

 

OTHER UPDATES:

 

SPORTS

 

1. Hardeep S Puri Inaugurates 5th ONGC Para Games: Petroleum and Natural Gas Minister Hardeep Singh Puri has inaugurated the 5th Oil and Natural Gas Corporation Limited (ONGC) Para Games at New Delhi’s Thyagaraj Stadium. The ONGC Para Games is a testament to the spirit of the participating athletes. The 5th ONGC Para Games, featuring a total of 371 athletes will witness active participation across a range of sporting disciplines. Athletes from various oil and gas public enterprises will compete across disciplines such as athletics, badminton, table tennis, and wheelchair racing.

 

2. Umpire Marais Erasmus set to retire: Veteran South Africa umpire Marais Erasmus has announced his retirement from the ICC Elite Panel of Umpires. His illustrious career spanning over two decades will culminate with his final officiating duty during the second Test between New Zealand and Australia. The Christchurch Test will be Erasmus’ 82nd men’s Test match as umpire, putting him 10th on the list of umpires to officiate in most Test matches. Erasmus also officiated 124 men’s ODIs, 43 men’s T20 matches, and 18 women’s T20 matches. In 131 international games, he has also served as the TV umpire.

 

3. James Anderson becomes first pacer to pick 700 Test wickets: England great James Anderson has become first-ever fast bowler to pick up 700 Test wickets in 187 matches. The 41-year-old got to the major landmark when he dismissed Kuldeep Yadav on Day 3 of the fifth and final Test against hosts India at the HPCA Stadium in Dharamsala. The legendary fast bowler became only the third man after Sri Lanka’s Muttiah Muralitharan (800) in 133 mathes and leg-spinner Shane Warne (708) in 145 matches to achieve the feat.

 

 

 

SCIENCE AND TECHNOLOGY

 

1. India to construct a 10,000-GPU Supercomputer for self-sufficient AI advancement: The Indian government, led by PM Narendra Modi, has approved a new $1.24 billion investment for the IndiaAI mission, a “national-level” plan designed to create an all-Indian AI ecosystem from scratch. This initiative aims to create an all-Indian AI ecosystem from scratch, bolstering India’s technological prowess and fostering innovation in AI. The HPC system, expected to include 10,000 “or more” GPUs as AI accelerators, will be developed through a public-private partnership to support startups and research organizations.

 

AWARDS AND HONOURS

 

1. India receives ‘Measles and Rubella Champion’ award: India has been bestowed with the prestigious measles and rubella champion award for its exemplary efforts in combating these diseases. The award was received by the ambassador Sripriya Ranganathan on behalf of the Ministry of Health and Family Welfare at American Red Cross Headquarters in Washington. This accolade celebrates the country’s unwavering commitment to public health and its outstanding leadership in curbing the spread of these infectious diseases among children.

 

2. Krystyna Pyszkova wins the Miss World 2024: Krystyna Pyszkova from the Czech Republic was crowned as the new Miss World 2024. The previous Miss World 2022, Karolina Bielawska from Poland, crowned her successor in a magnificent ceremony. This is the 71st edition of the Miss World pageant for the year 2024 took place in Mumbai.

Runners-Up and Continental Winners-

 

3. Amitav Ghosh awarded Erasmus Prize for highlighting Climate Crisis: Indian writer Amitav Ghosh has been awarded the ‘Erasmus Prize’ 2024 for highlighting the climate change crisis. 67-year-old Ghosh has been honoured with the award by the Premium Erasmianum Foundation of the Netherlands. Amitav Ghosh will receive the award in person in the Netherlands in November.

Ghosh has received this award for his passionate contribution to highlighting the global crisis of climate change through writing and on the theme of ‘imagining the unimaginable’. In 2023, this award was received by South African comedian ‘Trevor Noah’.

Daily GK Update- 10th Mar, 2024

 

NATIONAL UPDATES:

 

1. Cabinet approves MSP for Raw Jute for 2024-25 Season: The Cabinet Committee on Economic Affairs has increased the Minimum Support Price (MSP) for raw jute for the 2024-25 season by ₹285 to ₹5,335 per quintal. The decision would ensure a return of 64.8% over the all-India weighted average cost of production. In the last 10 years, the government has increased MSP for raw jute from ₹2,400 per quintal in 2014-15 to ₹5,335 a quintal in 2024-25, registering a growth of 122%”. The decision is expected to help jute farmers in West Bengal, Bihar and Assam.

 

2. Cabinet approves Uttar Poorva Transformative Industrialization Scheme 2024: The Union Cabinet has approved the proposal of the Department for Promotion of Industry and Internal Trade (DPIIT) for Uttar Poorva Transformative Industrialization Scheme 2024 (UNNATI 2024). The scheme is for a period of 10 years from the date of its notification along with 8 years for committed liabilities with a financial outlay of ₹10,037 crore. The scheme is proposed to be divided into two parts. Part A caters to the incentives to the eligible units (₹9,737 crore), and Part B is for implementation and institutional arrangements for the scheme (₹300 crore). The proposed scheme envisages around 2,180 applications, and it is anticipated that direct employment opportunities of about 83,000 will be generated during the scheme period.

 

3. National Cooperative Database: Union Home Minister and Cooperation Minister Amit Shah inaugurated the National Cooperative Database and released the ‘National Cooperative Database 2023: A Report’ in New Delhi on March 8, 2024. The launch marks a significant milestone in the expansion and strengthening ..

 

4. Sudha Murty Nominated to Rajya Sabha: On March 8, 2024, Prime Minister Narendra Modi announced that Indian educator, author, and philanthropist Sudha Murty has been nominated to the Rajya Sabha by President Droupadi Murmu. The nomination, which coincides with International Women’s Day, underscores the importance of ..

 

INTERNATIONAL UPDATES:

 

1. Maldives-China Agreement for Acquiring Non-Lethal Equipment: The Maldives has recently signed a military assistance agreement with China, marking a significant development in the diplomatic and military relations between the two countries. Under this newly inked agreement, the Maldives will receive free “non-lethal” military equipment and training ..

 

 

OTHER UPDATES:

DEFENCE

 

1. CCS gives nod to 5th generation aircraft project worth ₹15,000 crore: The Cabinet Committee on Security (CCS) has approved the project for the design and development of India’s fifth-generation fighter jet, Advanced Medium Combat Aircraft (AMCA), to be undertaken by the Defence Research and Development Organization (DRDO). The AMCA is envisaged as a 25-tonne twin-engine stealth aircraft with an internal weapons bay and Diverterless Supersonic Intake which has been developed in India for the first time. It is intended to have an internal carriage of 1,500 kg of payload and 5,500 kg of external payload with 6,500 kg of internal fuel. The development of AMCA is planned to be carried out in two phases, an MK1 with the General Electric F414 engine and an Mk2 with a more powerful engine planned to be co-developed in partnership with Saran of France for which discussions are underway.

 

2. Indian Navy Commissions INS Jatayu: The Indian Navy has taken a significant step towards enhancing its operational capabilities and maritime domain awareness in the strategically important Lakshadweep islands with the commissioning of INS Jatayu at Minicoy Island on March 6, 2024. The new naval base, ..

 

SCIENCE AND TECHNOLOGY

 

1. DST, T-Hub launch AI-ML hub in Hyderabad: The Department of Science and Technology (DST), which works under the Union Ministry of Science and Technology, and start-up ecosystem enabler T-Hub have joined hands to to set up a Machine Learning and Artificial Intelligence Technology Hub (MATH) in Hyderabad. The hub will work to foster AI innovation, create job opportunities, and provide a conducive ecosystem for AI and ML start-ups. The Centre of Excellence aims to generate over 500 AI-related jobs by 2025 and nurture more than 150 start-ups annually.

 

BANKING AND FINANCE

 

1. Tech Fini Join hands with NPCI to provide credit line on UPI: National Payments Corporation of India (NPCI) has signed a multi-year MoU with the Indian Institute of Science (IISc), Bangalore, for conducting joint research on blockchain and artificial intelligence (AI) technology. The partnership will also propel further innovation through the establishment of the “NPCI-IISc Centre of Excellence (CoE) for Deep Tech Research and Development” The partnership will also focus on scalable blockchain platforms and multi-modal analytics over fintech data. Faculty members from five departments at IISc will work with NPCI researchers on practical challenges related to these areas.

 

2. Govt keeps interest rates on small savings schemes unchanged for Q1 FY25: The government has kept the interest rates unchanged on various small savings schemes for the first quarter of the next fiscal, beginning April 1, 2024. With this, the interest rates will remain unchanged till June 30, 2024. These schemes offer guaranteed returns at regular intervals compounded monthly, quarterly or annually as the case may be. These instruments cater to conservative investors and offer guaranteed but low returns and range between 6-8 per cent.

 

3. Moody’s ups growth forecast to 8% for FY24: Moody’s Ratings has raised India’s GDP growth forecast for FY24 to around 8 per cent from 6.6 per cent on the back of strong domestic consumption and capital expenditure. The latest estimate of Moody’s is about 140 basis points higher than the earlier projection of 6.6 per cent made in November 2023. The National Statistical Office (NSO) has projected 8.4 per cent growth in December quarter of the current financial year.

It has also revised GDP estimates for the first and second quarters to 8.2 per cent and 8.1 per cent from 7.8 per cent and 7.6 per cent, respectively.

 

Daily GK Update- 9th Mar, 2024

 

NATIONAL UPDATES:

 

1. PM launches 52 tourism sector projects worth more than Rs 1400 crores: Prime Minister Narendra Modi has launched 52 tourism sector projects worth over Rs 1400 crore under the Swadesh Darshan and Pilgrimage Rejuvenation and Spiritual Heritage Augmentation Drive (PRASHAD) schemes. Nine tourism infrastructure projects, spread across the country, developed under Swadesh Darshan and PRASHAD schemes worth Rs 469 crore were launched, besides 43 other projects worth Rs 963 crore were also launched under the two schemes of tourism ministry.

The project launch events were also carried out at all the 52 destinations, simultaneously by the ministry, state government, UT administrations and local authorities.

 

2. PM Modi dedicated Sela tunnel to nation: Prime Minister Narendra Modi has dedicated the Sela tunnel in Arunachal Pradesh to the country, with the new route allowing faster deployment of weapons, soldiers and equipment to forward areas near the Line of Actual Control (LAC) in the Tawang sector. the tunnel is built by the Border Roads Organisation (BRO) at a cost of Rs 825 crore. It is the world’s longest twin-lane tunnel above 13,000 feet. The tunnel will cut down the travel time to Tawang by at least one hour as well as provide all-weather connectivity. Sela tunnel will not only boost the country’s defence preparedness but will also give a fillip to the region’s socio-economic development, the officials said.

 

3. Bichom becomes 27th district of Arunachal Pradesh: Bichom, carved out of West and East Kameng, became the 27th district of Arunachal Pradesh. In February this year, the state assembly passed the Arunachal Pradesh (Re-Organization of Districts) (Amendment) Bill, 2024 for the creation of Bichom and Keyi Panyor districts. A total of 27 villages from West Kameng and 28 from East Kameng were made part of Bichom district.

 

4. Rajendra Prasad Goyal assumes additional charge of NHPC Limited: Rajendra Prasad Goyal, Director (Finance), NHPC has taken over the additional charge of the post of Chairman and Managing Director of NHPC Limited, India’s premier hydropower company and a Schedule ‘A’ Enterprise of Government of India. Goyal joined NHPC on 18th November 1988 as Finance Professional and he has risen the professional ladder by virtue of utmost sense of responsibility, ethics and dedication to the Company. He has vast experience of more than 35 years in NHPC in the core areas of Finance, coupled with in-depth understanding of Financial, Contractual and Regulatory issues involved in the construction and operation of hydropower projects.

 

INTERNATIONAL UPDATES:

 

1. Sweden officially becomes 32nd member of NATO: Sweden has officially become the 32nd member of NATO after it completed the accession process in Washington. The handover of documents took place at a ceremony two years after Sweden applied to join the military alliance following the full-scale war between Russia and Ukraine in February 2022. The foundations of the North Atlantic Treaty Organization (NATO) were officially laid down on 4 April 1949 with the signing of the North Atlantic Treaty, more popularly known as the Washington Treaty. The Treaty was signed in Washington D.C. on 4 April 1949 by 12 founding members. At present, NATO has 32 member countries. These countries, called NATO Allies.

 

2. 9 March – No Smoking Day: No Smoking Day is celebrated on 13 March every year. This day is dedicated to spreading awareness about the destructive impacts of smoking and to inspire individuals to stop smoking. Theme 2024 – Protecting children from tobacco industry interference. The historical backdrop of No Smoking Day traces all the way back to 1984, when a charity called No Smoking Day was founded. The day was first observed on Ash Wednesday in 1984. It was initially intended to spread awareness about the health risks related to smoking and to help smokers in kicking the habit.

 

OTHER UPDATES:

DEFENCE

 

1. 9 March – CISF Raising Day: CISF Raising Day is celebrated every year on March 10. This day marks the establishment of the Central Industrial Security Force (CISF) in 1969. CISF is an important armed police force in India that provides security to many important places and projects across the country. DG of CISF – Nina Singh Headquarters – New Delhi, India

 

BANKING AND FINANCE

 

1. RBI and Bank Indonesia sign MoU to establish a framework to promote use of local currencies for cross-border transactions: The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a Memorandum of Understanding (MoU) in Mumbai for establishing a framework to promote the use of local currencies — the Indian Rupee (INR) and the Indonesian Rupiah (IDR) — for cross-border transactions. This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market. The MoU covers all current account transactions, permissible capital account transactions, and any other economic and financial transactions as agreed upon by both countries.

 

2. Govt keeps interest rates on small savings schemes unchanged for Q1 FY25: The government has kept the interest rates unchanged on various small savings schemes for the first quarter of the next fiscal, beginning April 1, 2024. With this, the interest rates will remain unchanged till June 30, 2024. These schemes offer guaranteed returns at regular intervals compounded monthly, quarterly or annually as the case may be. These instruments cater to conservative investors and offer guaranteed but low returns and range between 6-8 per cent.

 

AWARDS AND HONOURS

 

1. National Creators Award: On Friday, March 8, 2024, Prime Minister Narendra Modi presented the inaugural National Creators Award at Bharat Mandapam in New Delhi. The awards were given to recognize young talent across 20 categories, including storytelling, social change advocacy, environmental sustainability, education, ..

 

2. President’s Standard and President’s Colours Awarded: On March 8, 2024, President Droupadi Murmu, the Supreme Commander of the Indian Armed Forces, presented the prestigious President’s Standard to 45 Squadron and 221 Squadron, and the President’s Colours to 11 Base Repair Depot (BRD) and 509 Signal Unit . 

Daily GK Update- 8th Mar, 2024

 

NATIONAL UPDATES:

 

1. First Bharat Steam Boiler Expo 2024 held in Guwahati: The first Bharat Steam Boiler Expo 2024 was held at Veterinary College Field in Guwahati, Assam. The expo is organized by the Assam’s Inspectorate of Boilers (CIB) and supported by the Assam government’s Labour Welfare Department. The expo aims to improve the efficiency and growth of various sectors that use steam boilers. This pioneering expo is the result of a collaborative effort among industry stalwarts including Indian Oil Corporation (IOC), Oil India Ltd (OIL), Numaligarh Refinery Ltd (NRL), Brahmaputra Cracker and Polymer Ltd (BCPL), Assam Petro Chemicals Ltd, and NTPC Ltd.

 

2. Govt extends subsidy for Ujjwala beneficiaries by another one year: The Union Cabinet has decided to extend the subsidy of ₹300 per LPG cylinder for up to 12 refills per year till the end of next financial year (March 2025). About 10.27 crore beneficiaries under the Pradhan Mantri Ujjwala Yojana (PMUY) will get the benefit of the scheme with its continuation set to incur ₹12,000 crore. The Centre had started a targeted subsidy of ₹200 per cylinder for up to 12 refills per annum to the PMUY consumers in May 2022. In October 2023, the Centre increased the subsidy to ₹300 per cylinder for up to 12 refills per year. As on February 1, 2024, the effective price of domestic LPG for PMUY consumers is ₹603 per LPG cylinder of 14.2 kg.

 

3. Manish Prasad appointed president and MD for SAP Indian Subcontinent: German technology major SAP has appointed Manish Prasad as president and managing director for SAP Indian Subcontinent. He succeeds Kulmeet Bawa, who takes on a global role to drive the growth and adoption of the SAP Business Technology Platform (SAP BTP) for global customers. Prasad will help advance SAP’s move to the cloud, enabling customers across all industries to digitally transform with SAP.

 

4. 7 March – Jan Aushadhi Diwas: The inception of Jan Aushadi Diwas can be traced back to March 7, 2019, when Prime Minister Narendra Modi introduced it as part of the Pradhan Mantri Bharatiya Janaushadhi Pariyojana (PMBJP). This day serves as the culmination of a week-long event commencing on March 1, aimed at raising awareness about generic medicines and their potential to benefit millions of individuals.

 

INTERNATIONAL UPDATES:

 

1. International Women's Day 2024: 8th March: International Women’s Day is being celebrated across the globe on 8th March. Women’s Day serves as an opportunity to raise awareness about gender equality issues and advocate for progress towards a more equitable world. The United Nations has designated this year's theme as ‘Invest in Women: Accelerate Progress’. The campaign theme for this year is ‘Inspire Inclusion’.

 

2. World's largest literary festival-'Sahityotsav' to be held from March 11-16: World's largest literary festival-'Sahityotsav' by Sahitya Akademi will be held from the 11th to 16th of March. The festival commemorating 70 years of Sahitya Akademi will witness the participation of more than a hundred renowned writers and scholars. Over 190 sessions and more than 175 languages of the country will also be represented during the festival.

 

3. Panama becomes 97th member to ratify the International Solar Alliance: Panama has become the 97th member to ratify the International Solar Alliance.  Panama handed over the Instrument of ISA Ratification, during the meeting of the Ambassador of Panama to India, Yasiel Burillo with Joint Secretary (Economic Diplomacy), Abhishek Singh in New Delhi. International Solar Alliance partners with newly launched Global Energy Alliance for People and Planet (GEAPP) to accelerate energy transition.

 

4. 8 March – International Women’s Day: International Women’s Day is celebrated every year on 8 March. The day is dedicated to highlight women’s accomplishments, rights, equity, empowerment, and other issues. The theme of Women’s Day 2024 is ‘Invest in women: Accelerate Progress’, which emphasizes the importance of creating a world where women feels respected, valued, and empowered.

 

OTHER UPDATES:

DEFENCE

 

1. Navy commissions strategically important base INS Jatayu in Lakshadweep Islands: The Indian Navy has commissioned its new base “INS Jatayu” at Minicoy Island, Lakshadweep It will bolster its operational capabilities within the strategically important Lakshadweep islands. Jatayu has been commissioned under the command of Commandant Vrat Baghel. The crest of the INS Jatayu -depicting a bird signifying Jatayu, a character in the Hindu epic Ramayana — was hoisted after the unveiling of the commissioning plaque.

 

BANKING AND FINANCE

 

1. Kotak Life introduces Non-Linked Par Product Kotak G.A.I.N: Private sector life insurer Kotak Life Insurance has launched a non-linked participating product Kotak G.A.I.N which offers long-term saving or income. The minimum annual premium payable to avail the product is Rs 50,000. While taking the policy, the minimum age of the policyholder should be 90 days while the policy maturing age should be minimum 40 years and maximum 85 years. The product provides three options to the policyholder to choose from. Under the first option, policyholders can receive regular income from the 1st month of policy issuance for monthly payout mode and 1st year onwards for annual payout mode.

 

2. Future Generali India launches new women’s health insurance plan: Future Generali India Insurance Company (FGII), a private general insurer, has launched the most comprehensive women’s health insurance plan. The plan is designed to meet women’s unique needs. FGII “HEALTH POWHER” aims to address the various needs of women across the different stages of their lives. For a country like India, where women comprise roughly half of the nation’s population, at around 49 per cent, less than one-third or only about 30 per cent of them aged 15-49, were covered under health insurance between 2019-2021, as per data fetched from the National Family Health Survey India report.

 

3. Karnataka Vikas Grameena Bank launches ‘Vikas Spoorty’: Karnataka Vikas Grameena Bank (KVGB) has launched a new loan scheme called ‘Vikas Spoorty’ to strengthen the rural credit delivery system and also to motivate the common man to take up income-generating activities on a smaller scale. Under this scheme, people may avail a minimum loan of ₹50,000 and a maximum of ₹2,00,000. But the customer shall open a ‘Daily Deposit’ (pigmy) account and contribute regularly to it to service the repayment of instalment and interest for the loan. Chairman of KVGB – Shreekanth M Bhandiwad

 

AWARDS AND HONOURS

 

1. Yatin Bhaskar Duggal wins first prize in National Youth Parliament Festival 2024: Yatin Bhaskar Duggal from Haryana has won the first prize in the National Youth Parliament Festival 2024. While Vaishna Pitchai from Tamil Nadu won the second prize and Kanishka Sharma from Rajasthan the third prize. National Youth Parliament 2024 is based on the ‘Young Voices: Engage and Empower for Nation’s Transformation’ theme. The National Youth Parliament Festival (NYPF) is based on an idea introduced by the Prime Minister during his Mann Ki Baat Address on December 31, 2017.

 

Daily GK Update- 7th Mar, 2024

 

NATIONAL UPDATES:

 

1. PM Modi inaugurates India’s first underwater metro in Kolkata: Prime Minister Narendra Modi has inaugurated India’s first under-river metro tunnel in Kolkata. The metro tunnel has been built under Kolkata’s Hooghly River that will connect Howrah Maidan to Esplanade. The 4.8 km stretch between Howrah Maidan and Esplanade is the second section of the East-West Metro corridor between Howrah Maidan and the IT hub Salt Lake Sector V. The metro service will connect Howrah and Salt Lake — the West Bengal state capital’s twin cities. Three out of six stations will be underground. It is expected to zoom through a 520-metre stretch under the Hooghly in just 45 seconds.

 

2. Government launched innovative NITI for states platform for policy and good governance: Minister of Communications, Railways, and Electronics & Information Technology Ashwini Vaishnaw has launched NITI Aayog’s NITI For States platform at Rang Bhawan Auditorium, Akashvani, New Delhi. The ‘NITI For States’, is a cross-sectoral knowledge platform designed to become a Digital Public Infrastructure (DPI) for Policy and Good Governance. The significant features of the platform include a multi-sectoral live repository of 7,500 Best Practices, 5,000 Policy documents, 900+ datasets, 1,400 data profiles, and 350 NITI publications.

 

3. Jharkhand govt launched State Widow Remarriage Promotion Scheme: The Jharkhand State Government has launched the Jharkhand Widow Remarriage Promotion Scheme 2024. Under the Jharkhand Widow Remarriage Promotion Yojana 2024, the Jharkhand state government will provide INR to all the widowed who will get remarriage. Rs 2 lakh would be allocated as a promotional amount. This scheme will apply to the social status of all the widowed women in the Jharkhand state. All the applicants who clear the eligibility criteria must fill out the application form on the official website to avail of the benefits of the Widow Remarriage Promotion Scheme 2024.

 

4. IOC to make fuel for Formula 1 – first by an Indian firm: India’s largest oil company, Indian Oil Corporation Ltd (IOC) will start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels. F1 fuel is essentially high-octane petrol and the standards are heavily regulated by global motor sport governing body Federation Internationale de l’Automobile (FIA) on various counts, including permissible additives and blending agents. IOC will supply fuel for all the motorcyclists from 15 countries that will participate in the FIM Asia Road Racing Championship.

 

5. Slice appoints Nayanthara as Brand Ambassador: Slice has announced the appointment of actress Nayanthara as its latest brand ambassador. Slice aims to strengthen its connection with audiences, reaffirming its status as a beverage for mango enthusiasts. Slice has become popular in households across the country for its mango flavor. Nayanthara, known as ‘Lady Superstar’, is a critically acclaimed actress in Indian cinema. With this new association, Slice looks to add more excitement to the summer season and will unveil a new campaign later this summer.

 

INTERNATIONAL UPDATES:

 

1. Karnataka govt signed MoU with WEF for Al centre: Karnataka government has signed an MoU with the World Economic Forum to establish the state’s first Centre for Al. Objective – To make Karnataka a global Al hub by linking with WEF’s C4IR Network. The Centre for Al in Karnataka will foster global dialogue on Al ethics and support Al startups for global visibility and collaboration opportunities. It will attract investments, and create job opportunities in the region.

 

2. Airbus signs contract with IIM Mumbai to boost aviation talent in India: European aerospace firm Airbus has signed a contract with the Indian Institute of Management (IIM) Mumbai to provide aviation education to professionals and empower them with industry-ready skills through Airbus Beyond programmes. Under this contract, IIM Mumbai will offer short-term aviation courses to aspiring and working professionals who will be able to harness the power of Airbus Beyond programmes in the areas of aviation logistics, supply chain management, operations excellence, cargo handling, strategic procurement, business analytics and digitisation.

Under the agreement, IIM Mumbai will organise courses, onboard students and provide infrastructure and logistical support.

 

OTHER UPDATES:

 

SPORTS

 

1. Sunrisers Hyderabad appoint Pat Cummins as captain for IPL 2024: Sunrisers Hyderabad (SRH) has announced star Australian cricketer Pat Cummins as their new captain for the Indian Premier League (IPL) season 2024. Cummins, who won the ICC World Test Championship and ICC Cricket World Cup with Aussies last year as a captain, replaces South African batter Aiden Markram as the franchise’s captain. Cummins was brought by SRH for Rs 20.5 crores in the IPL auctions held last year, making him the second-most expensive player in history.

 

BANKING AND FINANCE

 

1. Infibeam Avenues get RBI’s authorization to payment aggregator licence: India’s first listed AI-powered fintech company, Infibeam Avenues has received the final authorization from RBI to operate as a payment aggregator for its payment gateway brand, CCAvenue. The RBI had in March 2020 introduced the PA framework, which necessitates payment gateways to secure an aggregator licence for acquiring merchants and delivering digital payment solutions. More than 10 million merchants are on Infibeam’s platform, and this year, the company has already crossed half a million merchants onboarding in 1H FY24. The company attributed this growth to the growing relationship with the bank partners and merchants.

 

2. 30 banks join RBI’s UDGAM portal for unclaimed deposits: The Reserve Bank of India (RBI) has announced that 30 banks are now participating in the UDGAM portal, designed for individuals to search for their unclaimed deposits/accounts. UDGAM — Unclaimed Deposits-Gateway to Access inforMation — is an online portal developed by RBI. It facilitates the registered users to search unclaimed deposits/accounts across multiple banks in one place in a centralised manner. All unclaimed deposits/accounts that are part of the Depositor Education and Awareness (DEA) Fund of RBI can be searched in the UDGAM portal.

 

3. CRISIL raises India’s GDP growth forecast to 6.8% for FY25: Rating agency CRISIL raised its economic growth forecast for India in the next financial year (FY25) to 6.8 per cent from 6.4 per cent estimated earlier, citing higher growth momentum. In its India Outlook report, growth will moderate in FY25 from 7.6 per cent in the current financial year as higher interest rates and lower fiscal impulse will temper demand. The report also expects the Indian economy to grow at an average rate of 6.7 per cent till the end of this decade. On the inflation front, the rating agency expects the softening to continue in the next financial year on the back of healthier agriculture output that tames food inflation, and benign oil and commodity prices.

 

AWARDS AND HONOURS

 

1. Tiger Woods honoured with USGA’s prestigious Bob Jones Award: Renowned golfer Tiger Woods has been selected for the Bob Jones Award, the US Golf Association’s (USGA) highest honour. This award is the highest honour given to Tiger Woods by the United States Golf Association (USGA). This prestigious award recognizes Woods’ dedication to sportsmanship, his respect for the traditions of the game, and his significant charitable endeavors.