Daily GK Update- 5th Aug, 2024

 NATIONAL UPDATES:

 

1. India retains eighth position in global agriculture exports in 2023: WTO: Despite a drop in its agriculture exports in 2023 to $51 billion from $55 billion in 2022, India maintained its position as world’s eighth largest exporter of agriculture products in the year as seven of the top ten exporting nations witnessed a decline, per figures collated by the WTO. Among the leading exporters of agricultural products, Brazil, the European Union and Thailand increased their exports by 6 per cent, 5 per cent and 0.2 per cent respectively in 2023. The other seven economies in the top 10 saw a decrease in their exports of agricultural products. The EU maintained its top position in 2023 by exporting agriculture produce valued at $836 billion compared to $799 billion in 2022. The US, too, continued at the second spot despite a drop in agriculture exports in 2023 to $198 billion as opposed to $222 billion in the previous year.

 

2. Ayush Ministry and WHO signed Donor Agreement: The Ministry of Ayush, GoI, and the World Health Organization signed a donor agreement during a signing ceremony organized at the WHO Headquarters in Geneva. This agreement outlines the financial terms for implementing the WHO Global Traditional Medicine Centre (GTMC) activities in Jamnagar, Gujarat. Through this collaboration, the GoI will donate US$ 85 million over a period of 10 years (2022-2032) to support the operations of the WHO Global Traditional Medicine Centre (GTMC) in Jamnagar, Gujarat. The Donor agreement recognizes the establishment of the WHO Global Traditional Medicine Centre as a key knowledge hub for evidence-based Traditional Complementary and Integrative Medicine (TCIM) aiming to advance the health and well-being of people and the planet.

 

3. Tata Group unveils ₹27,000 crore semiconductor facility in Assam: At the Tata Group’s ₹27,000-crore greenfield semiconductor assembly and test facility in Assam, which is expected to be operationalised by next year, around 15 billion chips will be packaged annually for customers globally. The chips, which will be packaged at the Jagiroad facility in Assam, will power electric vehicles, healthcare devices, mobile phones, laptops, and other key products of leading global companies around the world. This assembly and test facility will be able to directly ship semiconductor chips to end-users and OEMs (Original Equipment Manufacturers) in India and the world. The facility is expected to generate over 27,000 direct and indirect jobs in the region.

The project is envisioned under the Government of India’s Semiconductor policy, which is driven by the India Semiconductor Mission and the Government of Assam’s Electronics policy.

 

INTERNATIONAL UPDATES:

 

1. India and Vietnam team up to Preserve Maritime History with NMHC in Lothal: India has signed an MoU with and Vietnam to develop the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat. This partnership, rooted in centuries-old maritime connections, highlights the enduring bond between the two countries and their commitment to preserving and celebrating their shared heritage. This MoU marks a significant step forward in the collaborative efforts to bring the NMHC to life, further strengthening the strategic partnership between the two nations. The collaboration on the NMHC will involve various aspects aimed at showcasing the maritime heritage of both nations. The complex will emphasize the historical and cultural ties between India and Vietnam, highlighting the closeness and longevity of their shared maritime history.

 

2. Jakarta hosts 5th AITIGA joint committee meeting progresses ASEAN-India trade relations: The 5th meeting of the ASEAN-India Trade in Goods Agreement (AITIGA) joint committee was held at the ASEAN Secretariat in Jakarta, Indonesia. AITIGA Joint Committee had initiated discussions for review of AITIGA in May 2023 and after finalising its Terms of Reference and Negotiating Structure, AITIGA JC and its Sub-Committees started negotiations in February 2024. The first 2 rounds of negotiations were held in February 2024 in New Delhi and in May 2024 in Putrajaya, Malaysia. During the third round of negotiations in Jakarta, Indonesia, all eight Sub-Committees focused on ‘National Treatment and Market Access’, ‘Rules of Origin’, ‘Standards, Technical Regulations and Conformity Assessment Procedures’, ‘Sanitary and Phytosanitary’, ‘Legal and Institutional Issues’, ‘Customs Procedures and Trade Facilitation’, ‘Trade Remedies’, and ‘Economic and Technical Cooperation’ convened alongside the 5th AITIGA JC and engaged in substantive discussions, making significant progress.

 

3. Kelly Ortberg appoints as new CEO of Boeing: Longtime aerospace executive Robert “Kelly” Ortberg has been selected as the CEO of Boeing. She will replace Dave Calhoun. Ortberg, 64, started his career at Texas Instruments before joining Rockwell Collins, an aviation tech company, in 1987. He joined Rockwell as a program manager and worked his way up to become its CEO in 2013. Rockwell was named one of the best large employers in the country by Forbes under Ortberg’s leadership. He oversaw the acquisition of Rockwell by United Technologies Corporation in 2018 and retired in 2021.

 

OTHER UPDATES:

DEFENCE

 

1. Daljit Singh Chawdhary takes over additional charge of Director General, BSF: Daljit Chawdhary has been appointed to helm the BSF a day after incumbent director general Nitin Agarwal was repatriated prematurely to his parent Kerala cadre Director General of Sashastra Seema Bal (SSB) Daljit Singh Chawdhary has taken over the additional charge of Director General, Border Security Force. Chawdhary is a senior IPS officer of Uttar Pradesh cadre. He assumed the charge of DG SSB in January this year. Daljit Singh Chawdhary, a 1990 batch Indian Police Service (IPS) officer of Uttar Pradesh cadre, took charge as the director general of Border Security Force (BSF) on Saturday. Chawdhary is currently director general of Sashastra Seema Bal (SSB). Chawdhary has been appointed to helm the BSF a day after incumbent director general Nitin Agarwal was repatriated prematurely to his parent Kerala cadre.

 

2. Indian Air Force Approves Production of Astra Mark 1 Missiles: The Indian Air Force (IAF) has recently given Bharat Dynamics Limited (BDL) the go-ahead to manufacture 200 Astra Mark 1 air-to-air missiles. This is a big step forward for India’s homegrown missile production abilities. The decision was made when Air Marshal Ashutosh Dixit, the IAF Deputy Chief, visited the Defence Research and Development Organisation (DRDO) in Hyderabad.

 

SPORTS 

 

1. Manu Bhaker named flag bearer at Paris Olympics Closing Ceremony: India’s two-time Olympic bronze medallist Manu Bhaker is set to be India’s flagbearer in the closing ceremony of the Paris Olympics. India’s men’s flagbearer for the ceremony is yet to be confirmed. The closing ceremony of the Paris Olympics will take place on August 11. Bhaker brought her A-game in Paris and broke numerous accolades to claim two bronze medals in the Summer Games. Bhaker is the first athlete from the Indian contingent after independence to get two medals in a single edition of the Paris Olympics. Earlier in the 1900 Olympics, Norman Pritchard won two medals while representing India, both silver in the 200m and 200m hurdles.

 

2. Former England batter Graham Thorpe passes away: Former England batter and coach Graham Thorpe passed away. Shortly before that, he had accepted the job as head coach of Afghanistan. Thorpe played 100 Tests for England, scoring 16 centuries, before retiring in 2005. He started his coaching career in Australia before joining the England and Wales Cricket Board as a batting coach. He was an assistant coach for the men’s team under Trevor Bayliss and Chris Silverwood.

 

SCIENCE AND TECHNOLOGY

 

1. Role of Artificial Intelligence in Education: When ChatGPT was launched in November 2022, it sparked a lot of discussion in the field of education. Many people were worried about the impact it would have on the honesty and originality of student work. Teachers found it challenging to tell the difference between work written by students and content generated by AI.

 

BANKING AND FINANCE

 

1. IIT Madras Partners with IDBI Bank to Launch Cybersecurity Lab: Indian Institute of Technology Madras (IIT Madras) has partnered with IDBI Bank to launch a cybersecurity Lab to develop and deploy security solutions in crucial sectors such as healthcare, fintech and aerospace, among others. The lab will focus on creating market-ready IPs in cybersecurity, productisation and commercialisation of research work, especially for mobile technologies. The lab will focus on cybersecurity in systems deployed in industries such as banking, automotive, power and telecommunications, among others, and undertake experimental evaluation and assessment exercises. The researchers would also develop test cases for testing, carry out vulnerability research, and help devise hardening guidelines. It would help Enterprise Systems in managing cybersecurity risks in real-time.

 

Daily GK Update- 4th Aug, 2024

 NATIONAL UPDATES:

 

1. India and Vietnam sign 9 agreements to deepen strategic partnership & enhance cooperation: India and Vietnam signed nine agreements to deepen comprehensive strategic partnership and enhance cooperation in the fields of customs, agriculture, legal, radio and television broadcast, culture and tourism. Mazumdar said Prime Minister Narendra Modi held talks with his Vietnamese counterpart Pham Minh Chinh in New Delhi. He said both the leaders agreed to further deepen the India-Vietnam relationship by increasing economic, strategic, and cultural ties. They further agreed to further enhance defence cooperation based on mutual interest and priorities of the two countries which will also contribute to greater stability in the wider Indo-Pacific region.

 

2. 4th Rashtriya Hindi Vigyan Sammelan 2024 held in Bhopal: The 4th edition of the Rashtriya Hindi Vigyan Sammelan 2024 was held in the Madhya Pradesh capital, Bhopal. The Chief Minister of Madhya Pradesh, Dr Mohan Yadav, inaugurated the 4th Rashtriya Hindi Vigyan Sammelan 2024. Theme 2024 – Upgradation of National Scientific Consciousness in Amrit Kaal The conference’s primary aim was to offer a platform for researchers to present and discuss their work in Hindi, fostering the popularisation of science and technology through this language. The conference featured six sessions on diverse topics of Science, Technology, Ayurveda, Engineering, and Science Communication.

 

3. 4 August 2024 – National Friendship Day: Friendship Day 2024 is celebrated every year in India on the first Sunday of August. This year celebrated on 4 August. The primary aim of Friendship Day is to promote dialogue and build bridges between communities, cultures, and nations. It serves as a reminder of the power of friendship in overcoming differences and fostering peace. The International Day of Friendship was proclaimed in 2011 by the UN General Assembly with the idea that friendship between peoples, countries, cultures, and individuals can inspire peace efforts and build bridges between communities.

 

4. Bharatiya Vayuyan Vidheyak 2024: The Bharatiya Vayuyan Vidheyak 2024, introduced by Civil Aviation Minister K. Ram Mohan Naidu in the Lok Sabha, is a new law meant to replace the old Aircraft Act of 1934. This new law is designed to update and simplify the rules for civil aviation in India.

 

INTERNATIONAL UPDATES:

 

1. Grinson George takes over as new CMFRI Director: Grinson George has been appointed as the Director of the ICAR-Central Marine Fisheries Research Institute (CMFRI). He was Head of the Marine Biodiversity and Environment Management Division at CMFRI. A seasoned fishery researcher with over two decades of experience, he has held the position of Senior Programme Specialist at the SAARC in Dhaka.

 

2. India Host 3rd Edition of Global South Summit: The summit provides a platform for countries in the Global South—those in Latin America, Africa, and parts of Asia to share their views, difficulties, and priorities. Its goal is to improve communication and cooperation among developing nations. The first summit took place in January 2023, and the second in November 2023, just after the G20 Summit. Each event involved over 120 countries.

 

OTHER UPDATES:

DEFENCE

 

1. BSF Director General, Deputy removed ‘with immediate effect: The Centre removed BSF Director General (DG) Nitin Agrawal and his deputy Special DG (West) Y B Khurania, sending them back to their respective state cadres with immediate effect. Agrawal is a 1989-batch Kerala cadre officer, while Khurania belongs to the 1990-batch of the Odisha cadre. Agrawal had taken charge as the Border Security Force chief in June last year. Khurania, as the special DG (West), was heading the formation of the force along the Pakistan border. The about 2.65-lakh personnel strong BSF guards Indian borders with Pakistan on the west and Bangladesh on the east.

 

SPORTS 

 

1. Lakshya Sen claims historic win to become first Indian male shuttler to enter Olympic semis: Lakshya Sen made history by becoming the first male Indian shuttler to qualify for the semi-finals of an Olympics. He achieved this milestone by defeating Chinese Taipei’s Chou Tien-chen with a score of 19-21, 21-15, 21-12 in the quarter-finals of the 2024 Paris Olympics. Previously, the best performances by Indian male shuttlers in the Olympic men’s singles badminton tournament were by Parupalli Kashyap (London 2012) and Kidambi Srikanth (Rio 2016), both of whom reached the quarter-finals. Sen will compete in the semi-final against either Denmark’s Viktor Axelsen or Loh Kean Yew of Singapore.

 

SCIENCE AND TECHNOLOGY

 

1. India Shortlists Astronauts For Axiom-4 ISS Mission: India has chosen two astronauts for the Axiom-4 mission to the International Space Station (ISS). Group Captain Shubhanshu Shukla will be the main mission pilot, and Group Captain Prasanth Balakrishnan Nair will be the backup pilot. This mission is a big step for India’s human spaceflight program and involves working closely with the United States.

 

2. Saturn Ejects Comet A117uUD into Interstellar Space: Studying A117uUD’s path provides valuable insights into how gravity affects objects in space. This event suggests that comet ejections might happen more often than previously thought, challenging the idea that they are rare. As A117uUD travels into interstellar space, it joins a growing list of objects from outside our solar system, helping scientists learn more about space mechanics and the chances of future encounters with similar objects.

 

BANKING AND FINANCE

 

1. Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand: India Ratings & Research (Ind-Ra) upped India’s GDP growth forecast for the current fiscal to 7.5 percent from 7.1 percent projected earlier on an expectation of improved consumption demand. The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from Union Budget. Ind-Ra’s growth projection is higher than that of RBI which projected FY25 growth at 7.2 percent and Finance Ministry’s Economic Survey which estimated GDP expansion between 6.5-7 percent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a 3-year high of 7.4 percent in FY25, from 4 percent in FY24.

 

2. IRDAI imposes penalty of Rs 2 Cr on HDFC Life for violating regulations: The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a penalty totaling Rs 2 crore on HDFC Life for violating various IRDAI regulations. The penalty was levied after an onsite inspection conducted by IRDAI in September 2020, covering the financial years 2017-18,18-19,and 19-20. The penalty of Rs 1 crore was levied for issues related to the protection of policyholders’ interests. Additionally, a penalty of Rs 1 crore was imposed for irregularities concerning the outsourcing of services by the company.

 

 

Daily GK Update- 3rd Aug, 2024

 NATIONAL UPDATES:

 

1. Zomato launched new app ‘District’ to capture its ‘going-out’ market: Food aggregator Zomato has launched a new app, District, to expand its services beyond its core food delivery and quick commerce business. The new platform aims to consolidate various ‘going-out’ services such as dining, movies, sports ticketing, live performances, shopping, and staycations, creating a one-stop destination for customers. Zomato and Blinkit are currently serving customers’ needs at home, but there is a large opportunity to expand into the going-out market.

 

2. 4th Rashtriya Hindi Vigyan Sammelan 2024 held in Bhopal: The 4th edition of the Rashtriya Hindi Vigyan Sammelan 2024 was held in the Madhya Pradesh capital, Bhopal. The Chief Minister of Madhya Pradesh, Dr Mohan Yadav, inaugurated the 4th Rashtriya Hindi Vigyan Sammelan 2024. Theme 2024 – Upgradation of National Scientific Consciousness in Amrit Kaal The conference’s primary aim was to offer a platform for researchers to present and discuss their work in Hindi, fostering the popularisation of science and technology through this language. The conference featured six sessions on diverse topics of Science, Technology, Ayurveda, Engineering, and Science Communication.

 

3. Inderjit Camotra appoints as MD & CEO of Unity Small Finance Bank: The Reserve Bank of India (RBI) has appointed Inderjit Camotra’s reappointment as MD & CEO of Unity Small Finance Bank Limited (Unity Bank) for two years. Camotra brings over 28 years of experience in leadership roles at major banks including Standard Chartered, ANZ, and Citibank. During his tenure, Unity Bank has expanded significantly, accumulating a deposit base exceeding Rs 8,000 crore, a loan book surpassing Rs 8,500 crore, and establishing around 400 banking outlets across 21 states and union territories in India. Unity Bank is a Scheduled Commercial Bank promoted by Centrum Financial Services Limited (a subsidiary of BSE and NSE-listed Centrum Capital Limited), with Resilient Innovations Private Limited as a co-investor.

 

4. 3 August – Indian Organ Donation Day: Indian Organ Donation Day is observed every year on 3 August. This year observed 14th Indian Organ Donation Day. The Indian Organ Donation Day is observed to increase awareness about organ donation amongst the people. It also commemorates the contributions made to society by deceased donors and their families. The Indian Organ Donation Day has been observed since 2010 in the country. Earlier, the Indian Organ Donation Day used to be observed every year on 27 November. In 2022, the National Organ and Tissue Transplant Organization decided to observe the Indian Organ Donation Day on 3 August every year.

 

 

 

INTERNATIONAL UPDATES:

 

1. India and Vietnam sign 9 agreements to deepen strategic partnership & enhance cooperation: India and Vietnam signed nine agreements to deepen comprehensive strategic partnership and enhance cooperation in the fields of customs, agriculture, legal, radio and television broadcast, culture and tourism. Mazumdar said Prime Minister Narendra Modi held talks with his Vietnamese counterpart Pham Minh Chinh in New Delhi. He said both the leaders agreed to further deepen the India-Vietnam relationship by increasing economic, strategic, and cultural ties. They further agreed to further enhance defence cooperation based on mutual interest and priorities of the two countries which will also contribute to greater stability in the wider Indo-Pacific region.

 

2. Grinson George takes over as new CMFRI Director: Grinson George has been appointed as the Director of the ICAR-Central Marine Fisheries Research Institute (CMFRI). He was Head of the Marine Biodiversity and Environment Management Division at CMFRI. A seasoned fishery researcher with over two decades of experience, he has held the position of Senior Programme Specialist at the SAARC in Dhaka.

 

OTHER UPDATES:

DEFENCE

 

1. BSF Director General, Deputy removed ‘with immediate effect: The Centre removed BSF Director General (DG) Nitin Agrawal and his deputy Special DG (West) Y B Khurania, sending them back to their respective state cadres with immediate effect. Agrawal is a 1989-batch Kerala cadre officer, while Khurania belongs to the 1990-batch of the Odisha cadre. Agrawal had taken charge as the Border Security Force chief in June last year. Khurania, as the special DG (West), was heading the formation of the force along the Pakistan border. The about 2.65-lakh personnel strong BSF guards Indian borders with Pakistan on the west and Bangladesh on the east.

 

SPORTS 

 

1. Lakshya Sen claims historic win to become first Indian male shuttler to enter Olympic semis: Lakshya Sen made history by becoming the first male Indian shuttler to qualify for the semi finals of an Olympics. He achieved this milestone by defeating Chinese Taipei’s Chou Tien-chen with a score of 19-21, 21-15, 21-12 in the quarter-finals of the 2024 Paris Olympics. Previously, the best performances by Indian male shuttlers in the Olympic men’s singles badminton tournament were by Parupalli Kashyap (London 2012) and Kidambi Srikanth (Rio 2016), both of whom reached the quarter-finals. Sen will compete in the semi-final against either Denmark’s Viktor Axelsen or Loh Kean Yew of Singapore.

 

SCIENCE AND TECHNOLOGY

 

1. India selects 2 crew members for Axiom-4 mission to International Space Station: India has shortlisted two astronaut-designates for the upcoming Axiom-4 mission to the International Space Station (ISS). Indian astronauts Group Captain Shubhanshu Shukla and Group Captain Prasanth Balakrishnan Nair have been shortlisted to go to the U.S. to train for the upcoming Axiom-4 mission to ISS. A National Mission Assignment Board has recommended two Gaganyatris (astronauts) as prime and backup Mission Pilot for this mission. Group Captain Shukla will be the prime mission pilot and Group Captain Nair will be the backup. The Axiom-4 mission is the fourth private astronaut mission to the International Space Station.

 

BANKING AND FINANCE

 

1. RBL Bank becomes first private sector lender to merge UPI and NCMC in RuPay credit cards: RBL Bank has introduced a new RuPay Credit Card, integrating both Unified Payments Interface (UPI) and National Common Mobility Card (NCMC) features. This innovation makes RBL Bank the first private sector bank in India to offer these combined payment capabilities in a single card. The integration allows cardholders to make payments via UPI and get hassle-free travel with the NCMC feature. The extensive acceptance of the RuPay network ensures these cards are widely usable across various platforms and services.

 

2. Ind-Ra ups FY25 GDP growth forecast to 7.5% on expectation of high demand: India Ratings & Research (Ind-Ra) upped India’s GDP growth forecast for the current fiscal to 7.5 percent from 7.1 percent projected earlier on an expectation of improved consumption demand. The ongoing growth momentum led by government capex, deleveraged balance sheets of corporates/banks, and incipient private corporate capex cycle has now found support from Union Budget. Ind-Ra’s growth projection is higher than that of RBI which projected FY25 growth at 7.2 percent and Finance Ministry’s Economic Survey which estimated GDP expansion between 6.5-7 percent. Ind-Ra expects Private Final Consumption Expenditure (PFCE) to grow to a 3-year high of 7.4 percent in FY25, from 4 percent in FY24.

 

Daily GK Update- 2nd Aug, 2024

 NATIONAL UPDATES:

 

1. Rapido becomes unicorn with fresh $120 million funding: Ride-hailing startup Rapido has raised a funding of $120 million Capital in its latest Series E funding round led by its existing investor West Bridge, thus making it the latest company to join the coveted unicorn club. The investor poured in the fresh capital through three of its related entities – Setu AIF Trust, Konark Trust, and MMPL Trust, as per regulatory filings. Rapido is the third Indian startup to become a unicorn this year after fintech Perfios and AI upstart Krutrim. The firm’s operating revenue surged 3X to ₹443 crore during FY23. The steep growth in scale also caused a 54 per cent spike in losses which stood at ₹675 crore in FY23.

 

2. India Ranks 39th in Travel & Tourism Development Index 2024: India is ranked 39th among 119 countries, according to the Travel and Tourism Development Index 2024 report published by the World Economic Forum. As per the UNWTO barometer for May 2024, there were 975 million international tourist arrivals around the world in 2022, wherein India recorded 14.3 million international tourist arrivals that represented 1.47 per cent of the international inbound tourism market share. The share of India’s international tourist arrivals in Asia and the Pacific will be 15.66 per cent in 2022. India’s scores have improved in three areas: prioritisation of travel and tourism, safety and security, and health and hygiene.

 

3. State Conclave on Yuga Yugeen Bharat Museum inaugurated in New Delhi: Union Minister of Culture and Tourism, Gajendra Singh Shekhawat has inaugurated a three-day ‘State Museum Conclave on the upcoming Yuga Yugeen Bharat Museum’, organized by the Ministry of Culture at Bharat Mandapam, New Delhi. This three-day gathering aims to foster collaboration among State Museums and the Central Government in realizing the Prime Minister, Narendra Modi’s vision for the ‘Yuga Yugeen Bharat Museum’ that aims to exemplify global best practices.

 

4. 1 August – National Mountain Climbing Day: National Mountain Climbing Day is observed on August 1. It was initiated to honour Bobby Matthews and his companion Josh Madigan for successfully scaling all 46 peaks of the Adirondack Mountains, located in Northeastern New York.

National Mountain Climbing Day was founded in 2015 to celebrate Bobby Matthews and Josh Madigan, who successfully climbed all 46 Adirondack peaks. On August 1, 2015, the duo summited the final peak, Whiteface Mountain.

 

INTERNATIONAL UPDATES:

 

1. KIIT DU Awarded Prestigious UN ECOSOC Special Consultative Status: KIIT Deemed to be University has been granted the distinguished Special Consultative Status by the United Nations Economic and Social Council (UN ECOSOC), recognizing the University’s substantial contributions to the Sustainable Development Goals (SDGs). From a pool of 476 applications around the World, only 19 organizations, including KIIT DU, were selected for this prestigious honour. The status was conferred during the UN ECOSOC management segment meeting held on July 23, 2024, at the United Nations Headquarters in New York. This recognition underscores KIIT’s unwavering commitment to the United Nations’ Agenda 2030 and the SDGs. Attaining Special Consultative Status marks a significant milestone, positioning KIIT among a select group of universities globally that have earned this esteemed distinction.

 

2. 1 – 7 August – World Breastfeeding Week: World Breastfeeding Week is a global healthcare event celebrated annually from August 1st to 7th. World Breastfeeding Week (WBW) is a global campaign to raise awareness and galvanise action on themes related to breastfeeding. Theme 2024 – Closing the gap: Breastfeeding support for all WBW is celebrated every 1-7 August in commemoration of the 1990 Innocenti Declaration. WBW started in 1992, with annual themes including healthcare systems, women and work, the International Code of Marketing of Breastmilk Substitutes, community support, ecology, economy, science, education, and human rights.

 

OTHER UPDATES:

DEFENCE

 

1. Lt Gen Sadhna Saxena Nair becomes first woman DG Medical Services (Army): Lt Gen Sadhna Saxena Nair assumed the office of Director General Medical Services (Army), becoming the first woman to be appointed to this prestigious position. Prior to this, she was the first woman to hold the post of DG Hospital Services (Armed Forces) on promotion to the rank of Air Marshal. Lt Gen Nair graduated from the Armed Forces Medical College, Pune with a distinguished academic record and was commissioned into the Army Medical Corps in December 1985. For her meritorious service, she has been awarded the Air Officer Commanding-in-Chief, Western Air Command and Chief of the Air Staff Commendations as well as Vishisht Seva Medal by the President of India.

 

2. IAF set to host largest international air exercise ‘Tarang Shakti’: India is set to host its first multinational air exercise, ‘Tarang Shakti 2024’, in two phases starting on August 6th in Sular, Tamil Nadu. Around 30 countries will participate, with ten countries bringing their fighter aircraft.

The exercise aims to showcase India’s defence capabilities and enhance cooperation among the participating militaries. The first phase will be held from August 6th to 14th in Sular, Tamil Nadu, and the second phase from August 29th to September 14th in Jodhpur, Rajasthan. The ten countries bringing their aircraft include Australia, Bangladesh, France, Germany, Greece, Spain, the United Arab Emirates, the United Kingdom, the USA, and Singapore. Eighteen other countries will attend as observers. India will display its indigenous fighter aircraft and equipment, including the Tejas, Rafale, Mirage 2000, Jaguar, and MIG 29.

 

 

SPORTS 

 

1. Swapnil Kusale earns third bronze medal for India in shooting: Swapnil Kusale clinched his first Olympic bronze and third medal for India in the 50m rifle 3 positions event in the Summer Olympics games being held in Paris. Liu Yukun from China bagged the gold with 463.6 points, while Serhiy Kulish of Ukraine won the silver medal scoring 461.3. Kusale scored an aggregate of 451.4 in six rounds. He had finished seventh in the qualification. The last time a 50m rifle shooter made it to the Olympic finals was in 2012 London when Joydeep Karmakar finished fourth in 50m rifle prone event, a discipline which has been discontinued at the Olympics.

 

2. Rohan Bopanna announces retirement from Tennis: Rohan Bopanna, from Karnataka, one of India’s most accomplished tennis players, has announced his retirement from representing India in international competitions following his exit from the Paris 2024 Olympics. This marks the end of an era for Indian tennis, as Bopanna has been a stalwart for the country for over two decades.

Bopanna’s Olympic journey came to an end in the men’s doubles first round, where he partnered with N. Sriram Balaji. The Indian duo faced a formidable French pair, Gael Monfils and Edouard Roger-Vasselin, ultimately succumbing to a 7-5, 6-2 defeat.

 

3. Lt Col Kabilan Sai Ashok, India’s youngest boxing referee at Olympics: A distinguished officer of the Indian Army, Lieutenant Colonel Kabilan Sai Ashok has made history by becoming India’s youngest Olympic referee in boxing at the Paris Olympics 2024. This extraordinary accomplishment highlights his dedication, professionalism, and integrity, embodying the high standards of the Indian Army. Serving as the Joint Secretary at the Services Sports Control Board, Lt Col Ashok’s participation as an Olympic referee showcases his strong commitment to fair play and sportsmanship. His role is crucial in ensuring that matches are conducted with fairness and respect for the rules, upholding the Olympic spirit.

 

BANKING AND FINANCE

 

1. Tata Power Solar Systems partners with Bank of India for solar: Tata Power Solar Systems Ltd (TPSSL) has partnered with Bank of India (BOI) to facilitate easy financing for rooftop solar installations and establishment of electric vehicle (EV) charging stations. The partnership is a significant milestone with Tata Power Solar becoming the first solar company to collaborate with BOI for both solar and EV Charging Station financing and strengthening its leadership as a green energy solutions provider. This collaboration supports the government’s initiatives to promote rooftop solar installations, targeting a wide spectrum of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs). Under the PM Surya Ghar Yojana, residential customers seeking to install solar systems up to 3 KW can avail loans up to Rs 2 lakh with only a 5 per cent margin money requirement.

 

2. ADB to give $200 mn loan to India for solid waste management in 100 cities: Asian Development Bank and the Government of India recently signed a $ 200 million (about Rs 1,700 crore) loan to improve solid waste management and sanitation in 100 cities across eight states in the country. The signatories to the loan agreement for the Swachh Bharat Mission 2.0 -Comprehensive Municipal Waste Management in Indian Cities Program were Juhi Mukherjee, Joint Secretary, Finance Ministry, and Mio Oka, Country Director for Asian Development Bank (ADB) – India Resident Mission. The objectives of the government’s Swachh Bharat (Clean India) Mission – Urban 2.0 by enhancing sanitation and solid waste management infrastructure, including waste segregation, collection and disposal.

 

3. July GST mop-up at 3-month high, rises 10.3% to ₹1.82 lakh crore: Goods and Services Tax (GST) collections in July saw a significant increase, totaling Rs 182,075 crore, which marks a 10.3% rise compared to Rs 165,105 crore collected in July 2023.This growth was observed across all categories: Central GST (CGST), State GST (SGST), Integrated GST (IGST), and cess. Year-to-date figures for 2024 show a 10.2% increase in GST collections, amounting to Rs 7.38 lakh crore, compared to Rs 6.70 lakh crore in the same period of 2023. Notably, April 2024 saw a record high collection of Rs 2.10 lakh crore, followed by Rs 1.73 lakh crore in May and Rs 1.74 lakh crore in June.

 

AWARDS AND HONOURS

 

1. Vedachalam wins V Venkayya Epigraphy Award 2024: An eminent Tamil epigrapher and historian, V. Vedachalam has been conferred the V Venkayya Epigraphy Award for 2024. Vedachalam, who has written and co-written more than 25 books on subjects such as epigraphy, numismatics, temple art, religion, and society. The annual award, instituted by Sunitha Madhavan, the great-granddaughter of Mr. Venkayya, in association with the Tamil Heritage Trust, commemorates the pioneering epigrapher and celebrates exceptional contributions to epigraphy in any Indian language, including discovering new inscriptions, offering fresh interpretations, sharing knowledge through various media, and preserving epigraphic resources.

Daily GK Update- 1st Aug, 2024

 NATIONAL UPDATES:

 

1. Education Minister launches NATS 2.0 and Disburses Rs. 100 Crore Stipends: Union Minister for Education, Dharmendra Pradhan has launched the National Apprenticeship and Training Scheme (NATS) 2.0 Portal in New Delhi. As part of this initiative, Rs 100 crore in stipends has been disbursed to young graduates and diploma holders through Direct Benefit Transfer (DBT). These apprentices are receiving on-the-job training across various sectors, including IT/ITes, manufacturing, and automobile industries. The launch of the NATS 2.0 portal represents a significant step toward democratising apprenticeship opportunities, bridging skill gaps, and fulfilling the aspirations of youth, ultimately preparing them for future careers. The portal aims to facilitate a large number of beneficiaries to register and apply for apprenticeships while allowing establishments and industries to manage vacancies and contracts efficiently.

 

2. India elected as Vice-Chair of the Supply Chain Council of IPEF: India has been elected as the Vice-Chair of one of the three supply chain bodies set up under the Indo-Pacific Economic Framework for Prosperity (IPEF) Agreement relating to Supply Chain Resilience. India and 13 other IPEF partners have established three bodies under the IPEF’s agreement on supply chain resilience. The pact came into force in February 2024. The inaugural virtual meetings of the Supply Chain Council [SCC], Crisis Response Network [CRN], and Labor Rights Advisory Board [LRAB] marked a step forward for cooperation among partner countries for strengthening supply chain resilience in the region.

 

3. Santosh Kumar Gangwar sworn in as Jharkhand Governor: Former Union Minister Santosh Kumar Gangwar was sworn in as the 12th Governor of Jharkhand. Gangwar succeeded C.P. Radhakrishnan, who was appointed as the Governor of Maharashtra. Acting Chief Justice of Jharkhand High Court Sujit Narayan Prasad administered the oath of office to Mr. Gangwar.

 

4. Government appoints 2 new members in CBDT: The Union government has appointed two new members in the Central Board of Direct Taxes (CBDT), the administrative body for the Income Tax Department. Ramesh Narain Parbat and Prabodh Seth belong to the 1989 batch of the Indian Revenue Service (IRS). Parbat is posted as the director general of I-T investigations in Lucknow, While Seth is posted as the chief commissioner of I-T (international taxation) in Delhi. The CBDT is headed by a chairperson and can have six members who are in the rank of special secretary. Apart from CBDT Chairman Ravi Agrawal, the other serving members in the Board are Pragya Sahay Saksena, H B S Gill, Pravin Kumar and Sanjay Kumar.

 

INTERNATIONAL UPDATES:

 

1. 32nd International Conference of Agricultural Economists in New Delhi: India will host the 32nd International Conference of Agricultural Economists at the Pusa Institute New Delhi from 2 to 7 August 2024. After a gap of 66 years, India will be hosting this prestigious Conference again, which it hosted in 1958. Theme 2024 – Transformation Towards Sustainable Agri-Food Systems

The International Conference on Agricultural Economics is held every three years. The 2021 conference was held in a virtual format due to the COVID-19 pandemic. The 32nd International Conference of Agricultural Economists is being organized by the International Association of Agricultural Economists in collaboration with the Indian Society of Agricultural Economics, the International Food Policy Research Institute, the Agricultural Economics Research Association (India), the Indian Council of Agricultural Research, and the Indira Gandhi Institute of Development Research.

 

2. Mridu Pawan Das appointed as next High Commissioner of India to Rwanda: The government of India has appointed Mridu Pawan Das as the next High Commissioner of India to Republic of Rwanda. He presently Joint Secretary in the Ministry of External Affairs.

 

3. 1 August – World Lung Cancer Day: World Lung Cancer Day is observed every year on August 1. Objective – To raise awareness about the disease and the unhealthy lifestyle habits that we must change to stay safe. Theme 2024 – Close the care gap: Everyone deserves access to cancer care In 2012, the Forum of International Respiratory Societies (FIRS) and the International Association for the Study of Lung Cancer (IASLC) decided that every year, August 1 will be observed as World Lung Cancer Day.

 

4. 1 August – World Wide Web Day: World Wide Web Day is observed every year on 1 August. It aims to commemorate the creation of the World Wide Web (WWW) and how it changed the landscape of connectivity among humans. This day honours the groundbreaking invention by Tim Berners-Lee, an English scientist who invented WWW in 1989 while working at European Organisation for Nuclear Research (CERN). Tim Berners-Lee invented the WWW in 1989 while working at CERN. His vision was to combine computers, data networks and hypertext into a global information system that was powerful yet easy to use. Berners-Lee wrote the first proposal for the WWW in March 1989, followed by a second proposal a year later. Collaborating with Belgian systems engineer Robert Cailliau, who finalized the proposal in November 1990.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army launches E-SeHAT Tele-Consultancy for Veterans: The Ex-Servicemen Contributory Health Scheme (ECHS) has launched the Electronic Services e-Health Assistance and Tele-consultation (E-SeHAT) module. The E-SeHAT Tele-consultancy would enable ECHS beneficiaries in obtaining online Tele-consultation for medical treatment from their homes without visiting the ECHS Polyclinic. The module aims to provide health care services through safe and structured video based clinical consultations. The pilot project has been launched today at 12 ECHS Polyclinics including remote locations of Baramulla, Imphal, Churachandpur, Dimapur and Aizawal. The 12 ECHS Polyclinics tele-consulted remotely located ECHS beneficiary ex-servicemen before its pan India Roll Out planned in November 2024. The E-SeHAT initiative aligns with the Digital India vision of the Government of India aimed at promoting digital inclusivity and efficiency in public services. This pioneering effort will transform healthcare delivery for veterans, ensuring timely and quality medical attention from the comfort of their homes.

 

SPORTS 

 

1. Hamilton wins thrilling Belgian Grand Prix: Lewis Hamilton has won the Belgian Grand Prix after teammate George Russell, who had originally come home in first, was disqualified following the race for an underweight car. With McLaren’s Oscar Piastri finishing third. Red Bull’s Sergio Perez ended the day down in P7, having been overtaken by Sainz in the latter stages amid continuing pressure around the Mexican’s place in the team. Fernando Alonso took eighth for Aston Martin with Alpine’s Esteban Ocon and RB’s Daniel Ricciardo rounding out the top-10.

 

2. BFI sets up National Basketball Academy in Collaboration with CAA: The Basketball Federation of India (BFI) has set up the National basketball academy in collaboration with Corvuss American Academy in Mumbai. For a start, the Academy will run with 30 boys and 30 girls from the school. There will be a nationwide hunt for talent to select 30 boys and 30 girls for the academy. These players will be under the guidance of a competent foreign coach. The partner institution will provide a comprehensive academic program, nutritional support, sports counselling, training and access to world class facilities for the trainees. The players in the academy will be free to represent their States in the State and national championships.

 

3. Swapnil Kusale earns third bronze medal for India in shooting: Swapnil Kusale clinched his first Olympic bronze and third medal for India in the 50m rifle 3 positions event in the Summer Olympics games being held in Paris. Liu Yukun from China bagged the gold with 463.6 points, while Serhiy Kulish of Ukraine won the silver medal scoring 461.3. Kusale scored an aggregate of 451.4 in six rounds. He had finished seventh in the qualification. The last time a 50m rifle shooter made it to the Olympic finals was in 2012 London when Joydeep Karmakar finished fourth in 50m rifle prone event, a discipline which has been discontinued at the Olympics.

 

BANKING AND FINANCE

 

1. 11 PSU banks charge Rs 2,331 crore from account holders for not maintaining minimum balance in FY24: 11 public sector banks—excluding State Bank of India (SBI) — have charged Rs 2,331 crore from account holders for their failure to maintain minimum balance in savings banks in FY2024, a rise of 25.63 per cent from Rs 1,855.43 crore in FY2023. These banks collected Rs 5,614 crore from account holders for not maintaining the minimum balance in the last three years, according to Ministry of Finance figures. SBI stopped charging penalty for not maintaining minimum balance since FY2020. Punjab National Bank (PNB) collected the maximum amount of Rs 633.4 crore from their customers, followed by Bank of Baroda Rs 386.51 crore and Indian Bank Rs 369.16 crore. The minimum balance penalty will be higher if charges levied by private sector banks are taken into account. All the private banks are charging hefty amounts from account holders if they fail to keep the minimum balance in their accounts.

 

2. Sanjay Shukla appointed as MD of National Housing Bank: Sanjay Shukla has been appointed as the Managing Director (MD) of National Housing Bank (NHB). Before joining NHB, Shukla was the founding managing director and chief executive officer (CEO) of Centrum Housing Finance Limited (CHFL) from October 2016. A seasoned chartered accountant with over three decades of experience in housing and retail asset finance, Shukla has a distinguished history of leading and transforming financial institutions. He began his career in 1991 as an officer at LIC Housing Finance Limited, the National Housing Bank (NHB).

 

AWARDS AND HONOURS

 

1. DMRC wins Global Water Tech Award for environmental initiatives: The Delhi Metro Rail Corporation (DMRC) has received the ‘Global Water Tech Award 2024’ in the ‘organisation’ category for its initiatives in environmental conservation. Global Energy and Environment Foundation (GEEF) presented the honour, recognising DMRC’s efforts in water conservation and efficient utilisation of water resources across Delhi. Its key initiatives include rainwater harvesting pits, sewage treatment plants, and the use of treated effluent for construction, horticulture, and dust suppression at various sites. During its first phase of construction, DMRC rejuvenated the dry Sarpakar Lake in the ridge area using “dewatered water” obtained from one of its construction site near Delhi University.

 

Daily GK Update- 31st July, 2024

 NATIONAL UPDATES:

 

1. Goa launches ‘Goem Vinamulya Vij Yevjan’ Scheme: Chief Minister of Goa Pramod Sawant has launched the ‘Goem Vinamulya Vij Yevjan’ in the state. ‘Goem Vinamulya Vij Yevjan’ scheme is in alignment with the Prime Minister’s Surya Ghar Muft Bijli Yojana. It aims to increase solar rooftop potential and empower residential homes to generate their own electricity. The Goem Vinamulya Vij Yevjan has an initial investment of Rs 35 crore. Goa Energy Development Agency will cover the balance cost of rooftop installations up to 5kW. This support is for consumers who have used 400 or fewer units in the past year.

 

2. Former Union Health Secretary Preeti Sudan takes charge as Chairman of UPSC: Former Union Health Secretary Preeti Sudan has been appointed as the Chairperson of the Union Public Service Commission (UPSC). Sudan is currently a member of the Commission. She will take over from Manoj Soni who resigned a few days ago due to “personal reasons”. She will have a tenure till April 2025, when she turns 65. Soni resigned almost five years before his tenure ended in 2029. He joined the Commission as a Member in 2017, and was sworn-in as the Chairperson on May 16, 2023.

 

3. DAE Launches ‘One DAE One Subscription’ Initiative in Mumbai: The first ceremony for the ‘One DAE One Subscription’ (ODOS) program took place at Tata Memorial Hospital in Mumbai. This initiative aims to improve access to scientific research for the Department of Atomic Energy (DAE) and its around 60 units.

 

INTERNATIONAL UPDATES:

 

1. Masoud Pezeshkian sworn in as president of Iran: Masoud Pezeshkian was sworn in as president of Iran news president. Pezeshkian takes office at a time of escalating Middle East tensions over Israel’s conflict with Hamas in Gaza and cross-border fighting with Iran’s ally Hezbollah in Lebanon. Pezeshkian replaces hardline Ebrahim Raisi, who was killed in a helicopter crash in May.

 

2. July 30 – World Day Against Trafficking In Persons: The World Day Against Trafficking In Persons is observed on July 30 every year. Objective – To raise awareness, take global action, and support victims of human trafficking. Theme 2024 – Leave No Child Behind in the Fight Against Human Trafficking According to the Global Report of Trafficking in Persons (GLOTIP) by the UN Office on Drugs and Crime (UNODC), children are twice as likely as adults to face violence during trafficking. The United Nations General Assembly established the World Day Against Trafficking in Persons back in 2013. This step was taken as a part of the Global Plan of Action to Combat Trafficking in Persons, which was adopted in 2010. Its objective was to fight against human trafficking in the United Nations’ broader development and security agendas.

 

3. 31 July – World Ranger Day: World Ranger Day is celebrated worldwide on 31 July to commemorate Rangers killed or injured in the line of duty and to celebrate the work Rangers do to protect the planet’s natural treasures and cultural heritage. Theme 2024 – 30 by 30 The history of World Ranger Day dates back to the International Ranger Federation (IRF), a group founded in 1992 with the aim of advancing and backing the efforts of park rangers across the globe. This day was initially marked in 2007 as a tribute to eight rangers who died in a tragic incident while serving in Virunga National Park, Democratic Republic of Congo. Over the years, World Ranger Day has expanded to become a globally acknowledged event to honor the work of rangers and highlight the obstacles they encounter in their roles.

 

OTHER UPDATES:

 

SPORTS 

 

1. All 5 Indian Participants Bag Medals at 54th International Physics Olympiad 2024: The Indian delegation has achieved remarkable success at the 54th International Physics Olympiad 2024, held in Isfahan, Iran. All five Indian participants bagged medals, including 2 gold and 3 silver medals. Rhythm Kedia from Chhattisgarh and Ved Lahoti from Madhya Pradesh bagged gold medals. Whereas Akarsh Raj Sahay from Maharashtra, Bhavya Tiwari from Uttar Pradesh, and Jaiveer Singh from Rajasthan were honoured with silver medals. A total of 193 students from 43 countries participated in the competition. In the country-wise medal tally, India was placed in the fourth position, jointly with Vietnam. China came at the top, followed by Russia and Romania at second and third position, respectively.

 

2. India to host T20 Asia Cup 2025, 2027 edition in ODI format in Bangladesh: India will host the next edition of the men’s Asia Cup cricket tournament in T20 format in 2025 as a pre-cursor to the T20 World Cup scheduled in the country in 2026. Traditionally, the Asia Cup serves as a preparatory event for the global tournament and is played in the same format as the upcoming World Cup. In 2023, the Asia Cup was hosted by the Pakistan Cricket Board but was conducted in a ‘Hybrid Model’ due to India’s refusal to travel to Pakistan. As a result, India’s matches were held in Sri Lanka. The 2027 Asia Cup will be held in ODI format in Bangladesh as the 50-over World Cup is scheduled in South Africa in the same year. The T20 Asia Cup in India and 50-over continental event in Bangladesh in 2027 will comprise of 13 games each as there are 26 matches allocated in the said period.

 

3. Indian Team wins 4 medals at 56th International Chemistry Olympiad: In the 56th International Chemistry Olympiad, the Indian team won one Gold, two Silver and one Bronze medal. The Competition was held in Riyadh city of Saudi Arabia. Devesh Bhaiyya from the Jalgaon district of Maharashtra won gold. While Mumbai’s Avanish Bansal and Hyderabad’s Harshin Posina grabbed silver medals. Kashyap Khandelwal from Mumbai brought a bronze medal. Prof. Gulshanara Shaikh and Dr. Shraddha Tiwari were the guides of the Indian team. 327 students from 94 countries participated in the 56th International Chemistry Olympiad.

 

4. Shooter Manu Bhaker & Sarabjot win historic bronze at Paris Olympics: Shooter Manu Bhaker teamed up with Sarabjot Singh to win the bronze medal in the 10m air pistol mixed team shooting event. In the bronze medal match held at the National Shooting Center in Chateauroux, Paris, Manu Bhaker and Sarabjot Singh defeated the South Korean pair of Oh Ye Jin and Wonho Lee 16-10. The Serbian pair of Zorana Arunovic-Damir Mike won the gold medal, while the Turkiye pair had to settle for a silver medal. Paris is hosting the 33rd Summer Olympics from 26 July to 11 August 2024.

 

BANKING AND FINANCE

 

1. Amazon Pay, Adyen, BillDesk secure cross-border payment licence from RBI: Three payment companies have secured the cross-border payment aggregator licence from the Reserve Bank of India (RBI). These are Mumbai-based merchant payment company BillDesk, Amazon Pay, and global payments major Adyen. They joined Bengaluru-based payment aggregator Cashfree in the list of licence holders. Cashfree was the first company to secure the PA-cross border licence. The PA-CB licence allows payment companies to offer payment services in the export-import space. With India being a massive market for international remittances and freelancers who work for global companies sitting out of India, there is a large opportunity to be tapped by these cross-border payment aggregators.

 

2. Insurtech startup Covrzy gets broking license from IRDAI: Bengaluru-based Insurtech startup Covrzy has been granted a direct broking (general) license by the Insurance Regulatory and Development Authority of India (IRDAI). This enables Covrzy to operate as a direct insurance broker in India, offering a full spectrum of business insurance solutions. In May last year, the startup had raised $400K in its pre-seed round led by Antler, with participation from Shastra VC (formerly Veda VC). Co-founded by Ankit Kamra and Veera Thota, Covrzy provides an easy, customer-friendly insurance buying journey, particularly for startups, SMEs, and MSMEs in India.

 

3. UGRO Capital, SIDBI ink co-lending partnership: UGRO Capital, a data-tech non-banking financial company (NBFC) has entered into a co-lending partnership with Small Industries Development Bank of India (SIDBI) for lending to micro, small and medium enterprises (MSMEs). The partnership is in accordance with the Reserve Bank of India’s (RBI) co-lending framework, designed to leverage the strengths of banks and NBFCs to boost priority-sector lending. UGRO Capital uses data-driven co-lending to offer bespoke finance solutions to over 78,000 MSMEs in India.

 

4. SEBI launches SEVA Chatbot for Investors: The capital market regulator, the Securities and Exchange Board of India (SEBI) has introduced SEBI’s Virtual Assistant (SEVA) chatbot to help investors of the securities market. The SEVA Chatbot is an artificial intelligence-enabled chatbot that will answer certain investors’ questions. The chatbot will have multiple features, such as citations, answering follow-up questions, and the ability to convert speech-to-text and text-to-speech. The SEVA chatbots will enable users to ask questions about the securities market and SEBI’s complaint redressal platform (SCORES). SCORES (SEBI Complaint Redressal System) was launched by SEBI in June 2011 as an online platform which enables an investor.

 

5. Shriram Capital gets RBI nod to launch ARC: Chennai based Shriram Capital has received in-principle approval for its asset reconstruction company (ARC) from the Reserve Bank of India (RBI). The company had submitted the application to the Reserve Bank of India (RBI) in November 2023. The ARC will be a 100 percent subsidiary of Shriram Capital.