Daily GK Update- 10th July, 2024

 NATIONAL UPDATES:

 

1. Tata Power launches ‘Ghar Ghar Solar’ initiative in Uttar Pradesh: Tata Power Solar Systems Limited has launched the ‘Ghar Ghar Solar’ initiative in Uttar Pradesh aimed at providing every home with clean energy through rooftop solar solutions. Starting from Varanasi, the ambitious initiative of ‘Ghar Ghar Solar, Tata Power Ke Sang’ promises substantial financial savings and environmental benefits for residents through state-of-the-art Rooftop Solar Solutions (RTS). Consumers in the state can avail a maximum subsidy of up to Rs.1,08,000 on rooftop solar installation. It will comprise Central Govt. subsidy of Rs 78000 for up to 3 kW and a maximum of Rs 30,000 (Rs 15,000 per kW) for up to 3kW by the State Govt., which will be over and above the Central Govt. subsidy.

 

2. IEX board reappoints SN Goel as CMD, promotes Rohit Bajaj as joint MD: Indian Energy Exchange (IEX) board approved the proposal to reappoint Satyanarayan Goel as its Chairman and Managing Director and to appoint Rohit Bajaj as its Joint Managing Director. The board also approved the appointment of Rajeev Gupta as the Non-Executive Independent Director of the company. The board unanimously agreed to reappoint Goel as the Chairman & Managing Director for three years from August 10.

 

3. Soumya Swaminathan appointed as Principal Advisor to Union Health Ministry: Former Director General of Indian Council of Medical Research and World Health Organisation’s Chief Scientist Dr. Soumya Swaminathan has been appointed as the Principal Adviser at the Union Ministry of Health and Family Welfare (MoHFW) for the National Tuberculosis Elimination Programme (NTEP). She will be serving in MoHFW on a pro bono basis. Swaminathan will be based out of Chennai, where she heads the MS Swaminathan Research Foundation that works on issues of agriculture and climate change. As the Principal Adviser for the NTEP, Dr. Swaminathan will provide technical advice on the overall strategy to achieve goals, suggest policy directions and necessary course corrections for optimal outcomes, and advise on research strategy. India accounts for 25% of world’s TB burden and over 25 lakh new cases of TB were notified in 2024 in India, according to the India TB report released by the Centre.

 

INTERNATIONAL UPDATES:

 

1. India ranks fifth in GenAI innovations, China leads: India ranks fifth in Generative AI (GenAI) innovations, trailing behind China, the US, Republic of Korea, and Japan. India has filed 1,350 patents related to Generative AI from 2014 to 2023. The country ranks fifth globally in total number of GenAI patents, following China (38,210), the US (6,276), Republic of Korea (4,155), and Japan (3,409). India has surpassed the UK (714 patents) and Germany (708 patents) in the number of GenAI patents published. Chinese companies Tencent, Ping an Insurance Group, and Baidu have published the most GenAI patent families in the last decade. No Indian entities are in the top 20 GenAI patent owners.

 

2. India, Russia to boost bilateral trade to $100 billion by 2030: India and Russia have announced an initiative to develop strategic areas of economic cooperation to achieve a bilateral trade target of $100 billion by 2030. The initiative was announced after the 22nd edition of the annual summit between Prime Minister Narendra Modi and President Vladimir Putin in Moscow. In addition, India and Russia signed a number of MoUs between institutions on climate change, polar research, legal arbitration and pharmaceutical certification and other issues. Earlier, addressing about 500 members of the Indian diaspora in Russia, Mr. Modi announced that Russia had agreed to India’s request to open two new consulates in Kazan and Yekaterinburg to help facilitate services for the growing community.

 

3. 10 July – Global Energy Independence Day: Global Energy Independence Day is observed every year on July 10. Objective – To promote awareness for alternative forms of energy. The day also offers opportunities to learn more about renewable forms of energy, such as solar, wind, and geothermal. In 2006, Michael D. Antonovich proclaimed July 10th as Global Energy Independence Day. At the time, Antonovich served as a member of the Los Angeles County Board of Supervisors.

The date of July 10th coincides with the birthday of Nikola Tesla, who was born in 1856. Tesla is a Serbian-American inventor born in Croatia.

 

4. 10 July – Chronic Disease Awareness Day: Chronic Disease Awareness Day is observed every year on 10 July. Chronic Disease Awareness Day is dedicated to increasing awareness about chronic diseases, their impact, causes, symptoms, and prevention. Chronic refers to something that happens continuously for a prolonged period of time. Hence, a chronic disease or chronic health condition is a disease lasting for more than three months.

 

OTHER UPDATES:

DEFENCE

 

1. BSF organizes “Grow with the Trees” plantation drive in Srinagar: Border Security Forces (BSF) in association with SBI Bank has organized a “Grow with the Trees” plantation drive at BSF Headquarters in Srinagar. The initiative is expected to not only help create a more sustainable environment but also foster a sense of community and teamwork among the participants. The aim of the plantation is to make the campus here greener and to reduce the impact caused by global warming on the planet.

 

2. Central Asian countries conduct first war games without Russia or China: The exercises, named Birlestik-2024, which means “alliance” in Kazakh, are hosted by Kazakhstan and include four other ex-Soviet states. The drills, taking place in the Caspian Sea, will run until July 17, involving around 4,000 troops along with warships, aviation, artillery, and tanks. The participating countries are Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan, with Turkmenistan notably absent. Additionally, Azerbaijan, a Caucasus country, is participating in these exercises. The absence of Russia, which is currently engaged in the conflict in Ukraine, marks a notable shift in the regional military dynamics. The exercises will focus on “liberating an island captured by terrorists” and conducting operations to ensure maritime security and protect critical infrastructure.

 

SPORTS 

 

1. Gautam Gambhir appointed India men’s cricket head coach: Gautam Gambhir, the former India opening batter, has been appointed as the India men’s cricket team’s head coach. The former India cricketer will replace Rahul Dravid whose tenure came to an end after the T20 World Cup 2024. Gambhir, in his first international coaching assignment, has been handed a long rope, having been handed charge of the team till the end of 2027. India became the first team ever to win the T20 World Cup title without losing a single game. The Rohit Sharma-led side played some brilliant cricket and claimed the title by beating South Africa in the final.

 

2. Jasprit Bumrah, Smriti Mandhana named ICC Player of the Month for June: The International Cricket Council (ICC) has revealed the winners of the ICC Player of the Month awards for June 2024 with India’s Jasprit Bumrah and Smriti Mandhana both emerging victorious. Bumrah was crowned Player of the Tournament following India’s triumphant campaign at the ICC Men’s T20 World Cup 2024 in the USA and West Indies, and follows this feat with another personal honour, claiming his first ICC Men’s Player of the Month award. Mandhana also won her maiden ICC Women’s Player of the Month award after her scintillating batting performances lit up India’s ODI series victory over South Africa. The double-win marks the first time the ICC Men’s and Women’s Player of the Month represent the same country since the awards began in 2021.

 

BANKING AND FINANCE

 

1. ICICI Prudential MF launches India’s first oil & gas ETF: ICICI Prudential Mutual Fund has launched the ICICI Prudential Nifty Oil & Gas ETF, India’s first exchange-traded fund (ETF) in the oil and gas sector. The scheme will track the Nifty Oil & Gas TRI, an index that reflects the performance of listed sector companies. This is an open-ended scheme, meaning investors can redeem their units at any time. The Nifty Oil & Gas Index comprises a maximum of 15 stocks listed on the National Stock Exchange. The selection ensures that no single company holds more than 33 per cent of the weight and the combined weight of the top three companies does not surpass 62 per cent of the index. This ensures a balanced and diversified exposure.

 

AWARDS AND HONOURS

 

1. Maharashtra bags the Best Agriculture State Award for 2024: Maharashtra has won the Best Agriculture State Award for 2024. The announcement was made by the 15th Agriculture Leadership Awards Committee, headed by Justice P Sathasivam, former Chief Justice of India and Governor of Kerala. The Maharashtra chief minister, Eknath Shinde, received the award at a function in New Delhi. Maharashtra has been chosen for this award for its innovative agricultural and rural initiatives. The award recognizes the Maharashtra government’s innovative policies and high-impact developmental initiatives, which have led to the advancement of agricultural and rural prosperity in the state.

 

2. PM Modi received Russia’s Highest Civilian Honor for Exceptional Service: Prime Minister Narendra Modi has received the Order of St Andrew the Apostle the First-Called at the Moscow Kremlin’s St Catherine’s Hall. It was bestowed upon PM Modi in 2019 for his significant role in enhancing the strategic partnership and friendly relations between Russia and India.

 

 

Daily GK Update- 9th July, 2024

 NATIONAL UPDATES:

 

1. Amit Shah inaugurates Amin PJKP Vidhyarthi Bhavan in Ahmedabad: Union Home Minister and Minister of Cooperation Amit Shah has inaugurated the Amin PJKP Vidhyarthi Bhavan in Ahmedabad, Gujarat. Shah also inaugurated the modern multispecialty SLiMS Hospital in Ahmedabad. 1000 students will study in this Vidhyarthi Bhavan for higher education.

 

2. Govt makes ISI mark mandatory for stainless steel, aluminium utensils: The government has mandated conformity to the Bureau of Indian Standards (BIS) for stainless steel and aluminium utensils to enhance kitchen safety, quality and efficiency. According to an order issued by the Department for Promotion of Industry and Internal Trade (DPIIT), the ISI mark will be compulsory for such utensils. Recently, the BIS has developed a range of standards covering essential kitchen items. This move will enhance consumer confidence and drive manufacturers towards adopting best practices. This development follows the BIS’ recent formulation of comprehensive standards for kitchen items, including IS 14756:2022 for stainless steel and IS 1660:2024 for aluminium utensils.

 

3. UP govt launched ‘Mitra Van’ initiative on the UP-Nepal border: Uttar Pradesh Government has launched the ‘Mitra Van’ initiative under the Tree Plantation Jan Abhiyan-2024. The aim of the ‘Mitra Van’ initiative is to increase the green cover on the Uttar Pradesh-Nepal border. The ‘Mitra Van’ initiative will start on the border of Uttar Pradesh and Nepal from 20 July.

 

4. Govind Singh re-appointed as MD & CEO of Utkarsh SFB: The Reserve Bank of India (RBI) has approved the re-appointment of Govind Singh as the managing director and chief executive officer of Utkarsh Small Finance Bank (Utkarsh SFB) effective from September 21, 2024. The present term of Govind Singh is up to September 20, 2024.

 

5. 9 July – National Dimples Day: National Dimples Day is observed every year on 9 July. This lighthearted day encourages everyone to embrace their dimples, whether natural or drawn on for fun, and spread happiness through their cheerful grins.

 

6. 9 July – National Sugar Cookie Day: National Sugar Cookie Day is observed every year on 9 July. This sweet occasion pays homage to the simple yet irresistible sugar cookie, a beloved treat enjoyed by people of all ages. The origins of National Sugar Cookie Day are not well-documented, but it likely emerged as a result of the cookie’s enduring popularity in American culture. Sugar cookies themselves trace their roots back to the 1700s in Nazareth, Pennsylvania, where German Protestant settlers created a simple cookie called “Nazareth Cookies” that evolved into what we now know as sugar cookies.

 

INTERNATIONAL UPDATES:

 

1. Rachel Reeve becomes UK’s first woman Finance Minister: Rachel Reeves, a former Bank of England economist, has been appointed as the UK’s first female Finance Minister after the Labour’s landslide victory, ending 14 years of Conservative rule. She became British girls’ chess champion aged 14 before studying philosophy, politics and economics at the University of Oxford, which was followed by a Master’s degree at the London School of Economics. After graduating, she worked as an economist for a decade, first at the Bank of England before switching to the private sector. The United Kingdom is made up of England, Scotland, Wales and Northern Ireland.

 

2. Roshni Nadar conferred highest civilian award of France: Chairperson of IT services firm HCLTech, Roshni Nadar Malhotra has been conferred with the “Chevalier de la Légion d’Honneur” (Knight of the Legion of Honour), the highest civilian award of France. The award recognizes her contributions to the business world, her endeavor to promote economic ties between France and India, as well as her commitment to social and environmental causes. HCLTech has been operating in France since 2009. It is a digital transformation partner to G2000 French companies across diverse industries including aerospace, manufacturing, financial services and pharmaceuticals.

 

OTHER UPDATES:

DEFENCE

 

1. India to conduct Malabar Exercise with ‘Quad’ allies: India will host the prestigious Malabar Naval Exercise alongside the United States, Japan, and Australia in the Bay of Bengal in October 2024. The decision comes amidst escalating regional tensions fueled by China’s assertive actions in the South China Sea and its expanding footprint across the Indian Ocean Region (IOR). The 28th edition of the Malabar exercise, with a major focus on advanced anti-submarine warfare, will be conducted on India’s eastern seaboard in October to further enhance military interoperability among the four countries. Malabar will witness complex surface, anti-air and anti-submarine warfare drills, along with joint manoeuvres and advanced tactical exercises, to hone war-fighting skills.

 

SPORTS 

 

1. Vinesh Phogat wins Gold at Grand Prix of Spain: India’s two-time Olympian Vinesh Phogat has won the gold medal in the women’s 50kg category in the Grand Prix of Spain international continental wrestling championship. Vinesh defeated Mariia Tiumerekova – former Russian grappler now competing as an Individual Neutral Athlete – 10-5 in the final encounter to bag the yellow metal. In the quarterfinals, the 29-year-old from Charkhi Dadri, Haryana, pinned Madison Parks of Canada, a silver medallist at the 2022 Commonwealth Games in Birmingham. In the semifinals, Vinesh defeated another Canadian Katie Dutchak 9-4 to seal a place in the final.

 

2. Gagan Narang named as new Chef-De-Mission in Paris Olympics 2024: The Indian Olympic Association (IOA) has named Gagan Narang as the Chef-de-Mission of the Indian contingent to compete in the Paris 2024 Olympic Games, starting on 26th July. He will replace MC Mary Kom. Naragng is the four-time Olympian and 2012 Olympic Games men’s 10-meter Air Rifle bronze medalist. Star Shuttler PV Sindhu and Table Tennis Ace Achanta Sharath Kamal will be the flag bearers during the opening ceremony. India’s only women to win two Olympic medals, P.V. Sindhu, will be the female flag-bearer, alongside Sharath Kamal in the opening ceremony.

 

BANKING AND FINANCE

 

1. IFC lends ₹825 crore to Tata Realty for Ramanujan Intellion Park: Tata Realty & Infrastructure Ltd. has secured a ₹825 crore loan from the International Finance Corporation (IFC) for refinancing of Ramanujan Intellion Park in Chennai, a ‘sustainable real estte development’ project. This funding is earmarked for the strategic refinancing of the business park and is part of Tata Realty’s commitment to advance its sustainability efforts and elevate the standard of green commercial spaces across India.

 

2. India’s Exim Bank to provide $2.5 million LoC for Guyana: The Export-Import Bank of India (EXIM Bank) has entered into an agreement with the government of Guyana to provide a line of credit worth $2.5 million for the installation of a solar photo voltaic power plant. While the deal was dated February 29, 2024, Under the Line of Credit, the last date for disbursements will be 48 months after the completion of the project. The solar photo voltaic power plant will be set up at the Cheddi Jagan International Airport in Guyana. Of the total credit provided by EXIM Bank, goods, works and services worth at least 75% of the contract price will be supplied by the seller from India and the remaining 25% may be procured by the seller from outside India for the eligible contract.

 

AWARDS AND HONOURS

 

1. President Droupadi Murmu confers 10 Kirti Chakras, 26 Shaurya Chakra: President Droupadi Murmu conferred 10 Kirti Chakras, including seven posthumously, to personnel of the Army and paramilitary forces for displaying indomitable courage and extraordinary valour in the line of duty. Kirti Chakra is India’s second-highest peacetime gallantry award. President Murmu, who is the Supreme Commander of the armed forces, also presented 26 Shaurya Chakras, including seven posthumously, to the personnel of the armed forces, Central Armed Police Forces and state/Union Territory police during a defence investiture ceremony held at the Rashtrapati Bhavan Delhi. Sepoy Pawan Kumar of The Grenadiers, 55th Battalion, the Rashtriya Rifles; Captain Anshuman Singh of the Army Medical Corps, 26th Battalion, the Punjab Regiment; and Havildar Abdul Majid, 9th Battalion, the Parachute Regiment (Special Forces) from the Indian Army have been conferred the Kirti Chakra posthumously.

 

2. Sivashankari to honour with Dr. C. Narayana Reddy National Literary Award: Noted Tamil writer Sivashankari has been selected for Dr. C. Narayana Reddy National Literary Award. Sivashankari will be honoured with a cash prize of ₹5 lakh, a memento and a shawl in recognition of her contribution to the field of literature. A recipient of the Saraswati Samman Award, Ms. Sivashankari will receive the ‘Vishwambhara’ award during Dr. C. Narayana Reddy’s 93rd birth anniversary celebrations at Ravindra Bharati in Hyderabad on July 29. The Chennai-based writer has penned 36 novels, 48 mini-novels (navalikas), 150 stories, 15 travelogues, seven volumes of essays, four research papers and two biographies in Tamil.

 

 

Daily GK Update- 8th July, 2024

 NATIONAL UPDATES:

 

1. NCPCR declares mica mines in Jharkhand ‘child labour free’: The National Commission for Protection of Child Rights (NCPCR) declared the mica mines of Jharkhand’ child labour-free’ at an event in Koderma, Jharkhand. NCPCR chairperson Priyank Kanoongo announced that this is the first-ever successful endeavour to cleanse a supply chain of child labour in mica mining. The widespread use of child labour in mica mining led to an initiative from the government in collaboration with civil society to stop the use of child labour in mica mining and rehabilitation of the child labour freed from mining. A Child labour-free mica initiative was launched 20 years ago with the participation of the state government, district administration, village panchayats, civil society and the central government. The National Commission for Protection of Child Rights was later involved in the initiative after its creation.

 

2. Madhya Pradesh launches ‘Lokpath Mobile App’ to Expedite Road Issue Resolution: Chief Minister of Madhya Pradesh, Mohan Yadav has launched the Lokpath Mobile App. The goal of this digital project is to quickly fix road problems that people report within seven days. It is a big step toward better road upkeep and accountability in the state. It is developed by Madhya Pradesh State Electronic Development Corporation Limited (MPSEDC); the app was created by the Public Works Department (PWD). The Lokpath Mobile App lets people directly share problems with the roads, like potholes or other damage.

 

3. BPCL partners with Indian Olympic Association as Principal Sponsor: Bharat Petroleum Corporation Limited (BPCL) has partnered with the Indian Olympic Association (IOA) as the official Principal Partner for four years, starting from Paris Olympics ’24 through Los Angeles Olympics ’28. This four-year partnership supports and salutes the sheer grit and determination of Indian athletes, many of whom come from humble backgrounds and remote corners of India. As part of this collaboration, BPCL will launch series of campaigns designed to support and uplift the Indian contingent heading to Paris. These initiatives aim to inspire the nation, galvanize support for our athletes, and celebrate their relentless pursuit of excellence on the global stage.

 

4. Siddhartha Mohanty reappointed MD and CEO of LIC: Life Insurance Corporation of India (LIC) has re-designated its chairman Siddhartha Mohanty as managing director (MD) and chief executive officer (CEO). Mohanty was appointed as the chairperson of LIC in April 2023 until June 29, 2024. Thereafter, he was scheduled to take over the role of MD & CEO of the corporation until June 7, 2025. Currently, LIC has four other Managing Directors: M. Jagannath, Tablesh Pandey, Sat Pal Bhanoo, and R. Doraiswamy. Siddhartha Mohanty began his career with LIC as an apprentice officer in 1985. Over nearly 40 years, he has held various roles within LIC, including Executive Director (Legal) and Chief Operating Officer (COO) at LIC Housing Finance Limited (HFL).

 

 

INTERNATIONAL UPDATES:

 

1. USA to host NATO summit in Washington DC: USA will host the 3-day NATO summit in Washington DC. The three-day NATO summit to be held here from July 9 to 11 will be the first to include Sweden as a member of the alliance. Sweden officially joined the alliance in March. The summit is likely to show a strong demonstration of America and its allies’ support for Ukraine and make significant new announcements to increase military, political and financial support for the war-torn European country. The historic summit would also mark the 75th anniversary of the founding of the North Atlantic Treaty Organisation (NATO), which is now a strong military alliance of 32 countries.

 

2. Elisa de Anda Madrazo assumes charge as FATF President: Mexico’s Elisa de Anda Madrazo has been appointed as the president of Financial Action Task Force (FATF). She succeeded Mr. T. Raja Kumar of Singapore. Elisa is the president from 1 July 2024 to 30 June 2026. De Anda has over a decade of experience in leadership positions in the anti-money laundering (AML) and countering the financing of terrorism (CFT) sector. De Anda currently serves as Director General in Mexico’s Ministry of Finance and Public Credit. Elisa joined the Ministry in 2015.

 

3. 7 July – World Kiswahili Language Day: World Kiswahili Language Day is observed every year on 7 July. This year observed the 3rd World Kiswahili Language Day. It highlights the important role of this African language in promoting understanding and harmony across cultures. Theme 2024 – Kiswahili: Education and Culture of Peace In November 2021 at its 41st Session in Paris, the General Conference of UNESCO declared July 7th World Kiswahili Language Day. By Resolution 41 C/61, Member States recognized the critical role played by Kiswahili in promoting cultural diversity, creating awareness, and fostering dialogue among civilizations.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO unveils indigenous light tank Zorawar: India has unveiled its first indigenously designed and developed light battle tank that will be capable of delivering devastating firepower at high altitude battlefields and operating in all-weather conditions. Developed in a record time of under two years in response to Chinese armoured deployments in Eastern Ladakh, the 25-ton tank named ‘Zorawar’ is the result of a public-private partnership between DRDO and L&T. The project at the L&T production facility in Hazira with the Zorwar carrying out high speed ground tests and showcasing its ability to transverse high incline slopes. Next, the tank will head to a specialized track near Chennai where it will be thoroughly tested in all conditions, following which it will be offered to the Army for trials. The weight of the tank has been kept at 25 tons for higher mobility at extreme altitudes and will feature a 105 mm gun made by John Cockerill, which will also be produced in India.

SPORTS 

 

1. Kolkata, Kokrajhar, Jamshedpur & Shillong to host 133rd Durand Cup: The 133rd Durand Cup matches will be held in Kolkata, Kokrajhar (Assam), Jamshedpur (Jharkhand), and Shillong (Meghalaya). For the first time, Jamshedpur will host the Durand Cup matches. The 133rd edition of the Durand Cup will begin on 27 July 2024 and end on 31 August 2024. The final is being played at the Vivekananda Yuba Bharati Krirangan (Salt Lake Stadium) in Kolkata, West Bengal. Mohun Bagan Super Giant is the reigning champion who defeated East Bengal last year to lift the trophy.

 

2. Dhruv Sitwala win Asian Billiards Championships: India’s Dhruv Sitwala has won the men’s Asian Billiards Championships after defeating Pankaj Advani in Riyadh, Saudi Arabia. Dhruv set the tone for the match with an impressive start, scoring 103 points, while Advani struggled to get on the board, finishing with no points. Advani managed to improve his game, scoring 36 points, but Dhruv maintained his dominance with another 100. Advani found his rhythm in the third frame and outplayed Dhruv, achieving a remarkable 101. Dhruv, however, had an off-frame, scoring only two points. While, India’s Anupama Ramachandran has won the maiden Asian Snooker Championship Title with a gritty 3-1 win over Panchaya Channoi of Thailand.

 

3. Viswanathan Anand crowned Leon Masters champion for the 10th time: Viswanathan Anand, the five-time world champion, showcased his exceptional skills once again by defeating Jaime Santos Latasa from Spain with a score of 3-1 in the finals, securing his 10th victory at the Leon Masters. The 54-year-old Anand demonstrated that this tournament remains one of his preferred hunting grounds, having won his first title here 28 years ago in 1996. The tournament featured four players, including Anand’s compatriot Arjun Erigaise, the world number four, and Bulgarian Veselin Topalov. Each round consisted of four games, with a time control of 20 minutes per player and a 10-second increment after every move. In the second semifinal, Arjun suffered a defeat against Santos Latasa with a score of 1.5-2.5, which was considered a remarkable victory for the Spaniard, given the significant difference in their ratings.

 

4. Lewis Hamilton wins British Grand Prix to End 3-Year Drought: Lewis Hamilton held off Max Verstappen in the British Grand Prix at Silverstone for a first victory since Saudi Arabia in 2021. Lando Norris of McLaren was third. Oscar Piastri of McLaren was fourth with Carlos Sainz of Ferrari sixth and Nico Hulkenberg of Haas seventh. It was a record-extending 104th of Hamilton’s career and set a new string of records – not least the first F1 driver to win a race in 16 different seasons and first to win nine at the same circuit.

 

BANKING AND FINANCE

 

1. Bandhan Bank appoints Ratan Kr Kesh as interim MD & CEO: The board of private sector lender Bandhan Bank approved the appointment of Ratan Kumar Kesh as interim MD and CEO of the bank with effect from July 10 for a period of three months. The present MD and CEO, Chandra Shekhar Ghosh, is set to retire on July 9. Kesh has been the executive director and chief operating officer of Bandhan Bank since March 2023. He was formerly with the ICICI Bank, HDFC Bank, Yes Bank and Axis Bank.

 

Daily GK Update- 7th July, 2024

 NATIONAL UPDATES:

 

1. Government extends tenure of Pradeep Singh Kharola as CMD of ITPO: The appointments Committee of the Cabinet has extended the tenure of Retired IAS officer, Pradeep Singh Kharola as Chairman and Managing Director of India Trade Promotion Organization. The Committee has given an extension till 19th October 2025. Kharola will also continue to be chairman of the National Recruitment Agency and Director General of the National Testing Agency (NTA).

 

2. What is a Zoonotic Disease?: The root of the Zoonoses word is the Greek word “Zoon” and “nosos”. In Greek “Zoon” means animal, and “nosos” means illness. Thus, Zoonoses refers to a disease that spreads from vertebrate animals to humans and vice versa. Vertebrates are animals with a backbone and a central nervous system partly enclosed within the backbone. Vertebrates include mammals (like humans), amphibians, birds, reptiles, and fish.

 

INTERNATIONAL UPDATES:

 

1. Bajaj launches world’s first CNG motorbike: Pune headquartered Bajaj Auto has launched the world’s first CNG powered motorcycle. Priced between Rs 95,000 and Rs 1,10,000, the bike will be available across the country in a phased manner. Union minister of Road Transport Nitin Gadkari who unveiled the bike talked about the Centre’s commitment to green and clean technology. India’s automobile industry is the third largest in the world. “Our automobile industry contributes around Rs 3 lakh crore in terms of GST and employs around 4 crore people. Called Freedom, the CNG powered bike has a 2-kg CNG cylinder and a 2-litre petrol tank. The bike, which has a 125 cc engine, has the longest seat length and state of the art technology. The bike, which can switch to petrol when gasoline runs low, has been through 11 safety tests. It will be available in Indian markets in a phased manner.

 

2. Masoud Pezeshkian elected as the new President of Iran: Reformist and moderate leader, Masoud Pezeshkian has been elected as Iran’s new president. The Interior Ministry of Iran declared him the winner of the presidential run-off against rival Saeed Jalili.. In the run-off presidential election, Masoud Pezeshkian secured 53.7 per cent of the votes, and Jalili got 44.3 per cent. The presidential election was necessitated in Iran after the death of President Ebrahim Raisi, foreign minister Hossein Amir-Abdollahian, in a helicopter crash on 19 May 2024. The term of the Iranian President is four years, and he is eligible for re-election.

 

3. Who is Keir Starmer, the next British Prime Minister?: The Labour Party won a huge majority in the recent government elections, which means that Keir Starmer will be the next Prime Minister of the United Kingdom. The Conservative Party was thrown out, and Labour won 410 of the 650.

OTHER UPDATES:

DEFENCE

 

1. Annual defence production hits record high of approx. Rs 1.27 lakh crore in FY24: Ministry of Defence has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24. As per the data received from all Defence Public Sector undertakings (DPSUs), other PSUs manufacturing defence items and private companies, the value of defence production in the country has gone up to a record-high figure i.e., Rs 1,26,887 crore, reflecting a growth of 16.7% over the defence production in F24. The value of defence production in FY 2022-23 was Rs 1,08,684 crore.Of the total value of production (VoP) in 2023-24, about 79.2% has been contributed by DPSUs/other PSUs and 20.8% by the private sector. The feat has been achieved due to the policy reforms/initiatives and ease of doing business brought in by the Government in the last 10 years with focus on attaining self-reliance. In the last five years (since 2019-20), the value of defence production has been increasing steadily, and grown by over 60%.

 

2. India-Russia JV Completes AK-203 Rifle Production Phase: After working together for a while, India and Russia have finished the first part of their joint venture to make AK-203 assault rifles. As part of the larger “Make in India” and “Atmanirbhar Bharaj Shakti Bharat” campaigns.

 

SCIENCE AND TECHNOLOGY

 

1. India to host 5G, 6G and Emerging Technologies Hackathon in September: India will host the 5G, 6G, and Emerging Technologies Hackathon in September this year alongside the ‘WTSA24 (World Telecommunication Standardization Assembly) Outreach Sessions’. The initiative aims to bring together innovators, industry leaders, and academics to explore the frontiers of next-generation telecom technologies. The hackathon will serve as a hub for cutting-edge innovation in telecommunications. Focused on advancing technologies like 5G and 6G, the event will attract participants from industry, academia, and startups, all aiming to showcase pioneering solutions.

During the 30-hour event to be held in dedicated 5G labs in Delhi, Hyderabad, and Bengaluru, participants will collaborate in a dynamic environment to develop their ideas.

 

2. What is Aphelion?: The Earth hit aphelion in July of this year. This is the point in its orbit where it is farthest from the Sun. This event happens once a year and marks an important but little-known part of how our planet’s.

 

BANKING AND FINANCE

 

1. Shriram Life Insurance launched Deferred Annuity Plan: Private sector life insurer Shriram Life Insurance Company has launched a Deferred Annuity Plan aimed at providing a steady retirement income for customers. With an annuity plan starting at Rs 60,000 a year, the entry age for the plan is from 40 to 75 years and it includes payable with or without Return of Purchase Price. Deferment period is from 5 to 10 years after which annuity payments would commence. The Shriram Life Deferred Annuity Plan aims to fill this gap by providing an income stream and life cover, ensuring financial support for customers and their spouses without relying on their children or others. Its affordable rates cater to entrepreneurs not covered under social security schemes.

 

2. RBI imposes Rs 1.31 Cr penalty on PNB: The Reserve Bank of India has imposed a monetary penalty of Rs 1.31 crore on Punjab National Bank for non-compliance with certain directions related to KYC and ‘loans and advances. The Reserve Bank said it conducted a statutory inspection of the bank concerning its financial position as on March 31, 2022. This penalty was imposed for non-compliance with RBI directions regarding ‘Loans and Advances: Statutory and Other Restrictions’ and the ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’. RBI has also cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position. On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

 

AWARDS AND HONOURS

 

1. Why was Foxconn Chairman Young Liu awarded the Padma Bhushan?: Foxconn, headquartered in Taiwan, is the world’s largest contract manufacturer, assembling about 70 per cent of all iPhones. In the past year, Foxconn has invested heavily in expanding its presence in India, particularly in the southern regions. This expansion is part of a broader strategy to reduce reliance on Chinese manufacturing and capitalise on the growing opportunities in the Indian market.

 

2. Agri-entrepreneur Sopna Kallingal received Spice Award 2024: Sopna Kallingal of Kallingal Plantation, Thrissur, has received Spice Award 2024, instituted by ICAR-Indian Institute of Spices Research. The award has been given to her for her initiatives in enterprise diversification and integrated crop management strategies, promoting a sustainable spice-based cropping system.

Kallingal plantation has a diverse range of crops, embodying a dedication to enterprise diversification and agriculture innovation, according to the award citation. The priority crop in the Kallingal Plantation is nutmeg. However, through an intercropping method, the plantation has optimised space and productivity, integrating nutmeg trees, coconut palms, areca nut and black pepper vines.

 

 

Daily GK Update- 6th July, 2024

 NATIONAL UPDATES:

 

1. Amit Shah addressed “Sahkar Se Samriddhi” conference: Union Home Minister and Minister of Cooperation, Amit Shah addressed “Sahkar Se Samriddhi” conference on the occasion of 102nd International Day of Cooperatives in Gandhinagar, Gujarat. The Ministry of Cooperation organized ‘Sahkar se Samriddhi’ conference on this day to mark the celebration of International Day of Cooperatives 2024. The International Day of Cooperatives is an annual celebration of the cooperative movement around the world. It has been observed on the first Saturday of July (6 July) ever since 1923 by the International Cooperative Alliance (ICA). The theme for the 102nd International Cooperative Day is- “Cooperatives Build a Better Future for All.”

 

2. India to host 5G, 6G and Emerging Technologies Hackathon in September: India will host the 5G, 6G, and Emerging Technologies Hackathon in September this year alongside the ‘WTSA24 (World Telecommunication Standardization Assembly) Outreach Sessions’. The initiative aims to bring together innovators, industry leaders, and academics to explore the frontiers of next-generation telecom technologies. The hackathon will serve as a hub for cutting-edge innovation in telecommunications. Focused on advancing technologies like 5G and 6G, the event will attract participants from industry, academia, and startups, all aiming to showcase pioneering solutions.

During the 30-hour event to be held in dedicated 5G labs in Delhi, Hyderabad, and Bengaluru, participants will collaborate in a dynamic environment to develop their ideas.

 

3. What is a Zoonotic Disease?: The root of the Zoonoses word is the Greek word “Zoon” and “nosos”. In Greek “Zoon” means animal, and “nosos” means illness. Thus, Zoonoses refers to a disease that spreads from vertebrate animals to humans and vice versa. Vertebrates are animals with a backbone and a central nervous system partly enclosed within the backbone. Vertebrates include mammals (like humans), amphibians, birds, reptiles, and fish.

 

4. Madhya Pradesh CM Launches ‘Lokpath Mobile App’ for Road Issues: Mohan Yadav, who is the Chief Minister of Madhya Pradesh, recently launched the Lokpath Mobile App. The goal of this digital project is to quickly fix road problems that people report within seven days.

 

INTERNATIONAL UPDATES:

 

1. Keir Stammer elected 58th Prime Minister of the United Kingdom: Keir Starmer has been appointed as the new Prime Minister of the United Kingdom by Monarch King Charles III. Keir Starmer is the 58th Prime Minister of the United Kingdom. Keir Starmer’s Labour Party won a landslide victory in the recently held parliamentary election. He replaced the Conservative Party leader, Rishi Sunak, whose party badly lost the election.

 

2. Masoud Pezeshkian elected as the new President of Iran: Reformist and moderate leader, Masoud Pezeshkian has been elected as Iran’s new president. The Interior Ministry of Iran declared him the winner of the presidential run-off against rival Saeed Jalili.. In the run-off presidential election, Masoud Pezeshkian secured 53.7 per cent of the votes, and Jalili got 44.3 per cent. The presidential election was necessitated in Iran after the death of President Ebrahim Raisi, foreign minister Hossein Amir-Abdollahian, in a helicopter crash on 19 May 2024. The term of the Iranian President is four years, and he is eligible for re-election.

 

3. 6 July – World Zoonoses Day: World Zoonoses Day is observed every year on July 6. Objective – To raise awareness amongst the public and the stakeholders about the danger of diseases that can be transmitted from animals to humans. Theme 2024 – One World, One Health: Prevent Zoonoses” On 6 July 1885, the French biologist Louis Pasteur successfully administered the first rabies vaccine to a 9-year-old boy, Joseph Meiste, who had been bitten by a rabid dog. To mark such a momentous event in medical science, every year, 6 July is observed as World Zoonoses Day.

 

4. 6 July – International Kissing Day: International Kissing Day is observed on 6 July every year. The day is dedicated to the art of kissing and is a way to express love and intimacy. Kissing is a simple act that can have a profound impact on someone’s life. International Kissing Day helps us understand the main motive behind the gesture. It can show how much a person means to you. You can express your love and feelings for a person by kissing them. The history of kissing dates back to 1955 when American and British servicemen in France noticed that French women were more open to kissing than their American and British counterparts. The term “French kiss” was most likely coined by American and British servicemen in France during World War I. However, it is important to note that the French did not have a specific word for the famous mouth-on-mouth until recently.

 

5. India, Bangladesh to Renegotiate Ganga Waters Treaty: The Ganga Waters Treaty, which India and Bangladesh signed in 1996, will be discussed again. This pact, which is mostly about the fair sharing of water from the Ganga River, which both countries share, needs to be renewed in 2026.

 

OTHER UPDATES:

 

SCIENCE AND TECHNOLOGY

 

1. What is ‘Robot Suicide’?: In South Korea, this has never happened before a robotic government servant working for the Gumi City Council was found broken at the bottom of a flight of stairs. This event, which is now being called a “robot suicide”.

 

2. SpaceX’s Polaris Dawn Mission: First Commercial Spacewalk: SpaceX plans to launch Polaris Dawn, a commercial space project that is coming up soon. It is a big step forward for civilian space travel because it has the first private extravehicular activity, or “spacewalk,” and its crew.

 

BANKING AND FINANCE

 

1. LIC launches agency transformation initiative ‘Jeevan Samarth’: Life Insurance Corporation (LIC) has launched the ‘Jeevan Samarth’, an initiative aimed at transforming the agency ecosystem. To achieve this, Life Insurance Corporation (LIC) has partnered with a global consulting firm, which will undertake this agency transformation project by reviewing its existing agency framework on an end-to-end basis. It will also entail revamping the agency operations at the branch, division and zonal level directed towards establishing global best practices in the wake of the fast-changing industry and regulatory landscape of the insurance sector.

 

2. RBI imposes Rs 1.31 Cr penalty on PNB: The Reserve Bank of India has imposed a monetary penalty of Rs 1.31 crore on Punjab National Bank for non-compliance with certain directions related to KYC and ‘loans and advances. The Reserve Bank said it conducted a statutory inspection of the bank concerning its financial position as on March 31, 2022.

 

3. This penalty was imposed for non-compliance with RBI directions regarding ‘Loans and Advances: Statutory and Other Restrictions’ and the ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’. RBI has also cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position. On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC).

 

AWARDS AND HONOURS

 

1. Foxconn Chairman Young Liu receives Padma Bhushan: Foxconn Chairman Young Liu has received the Padma Bhushan from Manharsinh Yadav of India Taipei Association. Liu was conferred with Padma Bhushan, the third-highest civilian award, on the eve of the 75th Republic Day this year. Foxconn is not only expanding its iPhone production facility but is also setting up a chip plant in a joint venture with HCL Group.

 

2. Agri-entrepreneur Sopna Kallingal received Spice Award 2024: Sopna Kallingal of Kallingal Plantation, Thrissur, has received Spice Award 2024, instituted by ICAR-Indian Institute of Spices Research. The award has been given to her for her initiatives in enterprise diversification and integrated crop management strategies, promoting a sustainable spice-based cropping system.

Kallingal plantation has a diverse range of crops, embodying a dedication to enterprise diversification and agriculture innovation, according to the award citation. The priority crop in the Kallingal Plantation is nutmeg. However, through an intercropping method, the plantation has optimised space and productivity, integrating nutmeg trees, coconut palms, areca nut and black pepper vines.

 

 

Daily GK Update- 5th July, 2024

 NATIONAL UPDATES:

 

1. NITI Aayog to launch Sampoornata Abhiyan: NITI Aayog has launched Sampoornata Abhiyan Campaign to achieve saturation of six key indicators in Aspirational Districts and Aspirational Blocks across the country. This is a three-month campaign running from June 4 to September 30.

It seeks to achieve saturation in each of the six identified indicators in the 112 Aspirational Districts and 500 Aspirational Blocks under the Aspirational Districts Programme and Aspirational Blocks Programme.NITI Aayog, in collaboration with the relevant Central Ministries and Departments, as well as the Governments of States and Union Territories, will work together to ensure the effective and rapid development of these Districts and Blocks. This collaboration will focus on improved planning and implementation, capacity building, and establishing systems for service delivery.

 

2. NIC and Spices Board Sign MoU for AI-Based Cardamom Disease Study in Sikkim: The National Informatics Centre (NIC) and the Spices Board of India have signed an MoU to develop Artificial intelligence (AI) tools for detecting and classifying large cardamom diseases in Sikkim. The project, spearheaded by NIC’s Centre of Excellence in AI in Kolkata, aims to analyze images of cardamom leaves to identify diseases early. This initiative follows three months of discussions and marks a significant step in leveraging AI for agricultural advancements in Sikkim.

 

3. RBI appoints Arnab Kumar & Charulatha S as new Executive Director: The Reserve Bank of India (RBI) has appointed Arnab Kumar Chowdhury and Charulatha S. Kar as executive directors. Chowdhury and Kar will look after three departments each. Prior to being promoted as executive director, Chowdhury was serving as Chief General Manager-in-Charge in the Department of Supervision. As executive director, he will look after Deposit Insurance and Credit Guarantee Corporation (DICGC), foreign exchange department, and international department. Prior to being promoted as executive director, Kar was serving as Chief General Manager-in-Charge in the Human Resource Management Department. She will look after the Department of Communication, Human Resource Management Department, and Right to Information (First Appellate Authority).

 

4. Dhirendra Ojha appointed as Director General of PIB: Senior Indian Information Service (IIS) officer Dhirendra Ojha has been appointed as Director General of Press Information Bureau (PIB).

Ojha will replace Sheyphali Sharan, who has been appointed as the Director General of the Publications Division.

 

5. Hemant Soren takes oath as Jharkhand CM for third term: Jharkhand Mukti Morcha (JMM) leader Hemant Soren was sworn in as Jharkhand Chief Minister for the third term. He was administered the oath of office and secrecy by Governor C.P. Radhakrishnan at the Raj Bhavan in Ranchi. Champai Soren resigned from the post of Chief Minister paving the way for his predecessor. Hemant Soren was arrested by the Enforcement Directorate (ED) on 31 January 2024, however before his arrest, he resigned from the post of Chief Minister and Champai Soren, close to the JMM family, was made the Chief Minister.

 

INTERNATIONAL UPDATES:

 

1. NPCI international partners with Network International to expand UPI acceptance in UAE: Now Indian travellers or NRIs in UAE will be able to make Unified Payments Interface (UPI) payments through QR code through Point-of-Sale machines. NPCI International Payments Ltd. (NIPL), in partnership with Network International, a leading digital commerce enabler across the Middle East and Africa, has facilitated the acceptance of QR-code-based Unified Payments Interface (UPI) payments across point-of-sale (POS) terminals in the UAE. This initiative aims to provide seamless transaction experiences for Indian tourists in the UAE. With over 200,000 POS terminals spread in various sectors such as retail, hospitality, transport, and supermarkets, the UPI acceptance rollout will encompass a diverse range of establishments, including popular tourist and leisure attractions.

 

2. Belarus joins SCO 10th member: The 24th Meeting of the Council of Heads of State of the Shanghai Cooperation Organisation (SCO) was held in Astana, Kazakhstan. Kazakhstan President Kassym-Jomart Tokayev hosted the summit meeting. The Eurasian country of Belarus was admitted as the 10th full member of the SCO. The Indian Prime Minister skipped the meeting, and India was represented by the External Affairs Minister Dr. S Jaishankar.

 

3. 5 July – Pet Remembrance Day: Pet Remembrance Day is observed every year on 5 July every year. It is a day to commemorate and honour the pets we love. It’s a day to share their stories, their pictures, and the special moments they had when they were alive.

 

OTHER UPDATES:

DEFENCE

 

1. India-Mongolia joint military exercise ‘Nomadic Elephant’ begins in Meghalaya: The 16th edition of the India-Mongolia Joint Military Exercise Nomadic Elephant began at the Foreign Training Node in Umroi, Meghalaya. The exercise involves 45 Indian personnel from the Sikkim Scouts and other arms, and personnel from the 150 Quick Reaction Force Battalion of the Mongolian Army. This annual training event alternates between India and Mongolia; the previous edition was in Mongolia in July 2023. The exercise aims to enhance joint military capabilities for counter-insurgency operations under the UN mandate, focusing on semi-urban and mountainous terrain.

 

 

 

BANKING AND FINANCE

 

1. Paytm launches ‘Health Saathi’ plan for its merchant partners: One 97 Communications Limited (OCL), which owns brand Paytm, has rolled out ‘Paytm Health Saathi’, an exclusive health and income protection plan for its merchant partners. This plan is available on the ‘Paytm for Business’ app. The launch of ‘Paytm Health Saathi’ aims to safeguard the wellbeing of its merchants, ensuring their health and business continuity. With this service, Paytm continues to empower its merchant partners, bolstering their resilience, while democratising access to affordable coverage.

 

2. NABARD partners with Online PSB Loans Ltd to digitalize Jan Suraksha Schemes for RRBs: National Bank for Agriculture and Rural Development (NABARD) and Online PSB Loans Ltd. have signed an MoU to smoothen the enrolment and claim settlement processes under the Jan Suraksha Schemes for all 43 Regional Rural Banks (RRBs). Under this initiative, NABARD will integrate all 43 RRBs onto the Jan Suraksha Portal to democratise access to financial protection schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojna and Pradhan Mantri Suraksha Bima Yojna across erstwhile inaccessible corners of the country. This initiative represents a significant stride towards bridging the financial gap in rural areas and will further empower RRBs to leverage digital solutions for seamless enrollment and efficient settlement of Jan Suraksha schemes.

 

3. Indiabulls Housing Finance renamed as Sammaan Capital: Indiabulls Housing Finance Ltd’s name has been changed to Sammaan Capital Ltd, following its transformation into a board-run and diversely-held financial institution, from being a promoter-led and promoter-driven lender. This includes the Certificate of Incorporation from the Registrar of Companies and the Certificate of Registration as an NBFC-ICC (Investment and Credit Company) from the Reserve Bank of India.

 

AWARDS AND HONOURS

 

1. Geetha wins first ever K. Saraswathi Amma Award for feminist studies: Writer, critic and feminist activist P. Geetha was presented with the first K. Saraswathi Amma Award for her work ”Aan Thachukal” on MT Vasudevan Nair’s scripts. It is instituted by WINGS (Women’s Integration and Growth Through Sports) Kerala. Saraswathi Amma published her first short story in 1938. In her time, she was dubbed as a ‘men hater’, later the feminist world hailed her as the forerunner of feminist literature. Saraswathi Amma was a bold writer who stood alone against the then patriarchal literary world. WINGS is an organisation formed with an objective of making women bold and independent.