Daily GK Update- 29th Aug, 2024

 NATIONAL UPDATES:

 

1. C-DAC Inaugurates Model EV Charging Station and Hardware Emulation Facility: The Secretary, Ministry of Electronics and Information Technology (MeitY), S. Krishnan has inaugurated the Model Indigenous Electric Vehicle Charging Station at C-DAC Thiruvananthapuram, Technopark Campus. This center will have various AC and DC fast chargers for vehicles ranging from 2W to Heavy vehicles and, Play a crucial role in catalyzing an ecosystem for the promotion of the charging infrastructure with indigenous EV chargers research, development, commercialization, and manufacturing through industries.Apart from this the Secretary also inaugurated the Hardware Emulation Facility at C-DAC, Thiruvananthapuram for the Start-ups under the C2S program and DLI Scheme of MeitY.This center will have development, testing, and validation of hardware designs, for VLSI and SoC technologies. This facility provides resources for emulating hardware designs on reconfigurable platforms like FPGAs.

 

2. Spices board unveils comprehensive scheme to boost exports and enhance cardamom productivity: The Spices Board, under the Ministry of Commerce and Industry, has launched a new scheme titled ‘Sustainability in Spice Sector through Progressive, Innovative and Collaborative Interventions for Export Development (SPICED).’Scheduled to roll out in the fiscal year 2025-26, the scheme has been approved with a budget of ₹422.30 crore.Its primary objective is to enhance value addition, drive innovation, and promote sustainability in the spice sector.The SPICED scheme introduces several key components, including Mission Value Addition, Mission Clean and Safe Spices, the promotion of Geographical Indication (GI) spices, and support for entrepreneurship through Spice Incubation Centres.

 

3. Himachal Govt. launched Mukhya Mantri Sukh Shiksha Yojana: The Himachal Pradesh Cabinet, in a meeting at Shimla chaired by Chief Minister Sukhvinder Singh Sukhu, has approved a new scheme, “Mukhya Mantri Sukh Shiksha Yojana”.The scheme aims to provide financial support to identified socially and economically vulnerable women and parents of disabled children so as to enable the education and well-being of their children.The state cabinet has approved Rs 53.21 crore for the Mukhya Mantri Sukh Shiksha Yojana for the financial year 2024-25.Parents of children under 18 years will receive monthly financial assistance of Rs 1000 per month from the state government to cover the child’s educational, nutritional, and health expenses.

 

4. Satish Kumar named new Chairman and CEO of Railway Board: Indian Railway Management Service (IRMS) officer Satish Kumar has been appointed as the chairman and chief executive officer (CEO) of the Railway Board.His appointment marks a historic moment as he becomes the first individual from the Scheduled Caste or Dalit community to be selected for this position.Kumar’s tenure is slated to commence on September 1, when he will replace the incumbent chairperson and CEO of the board, Jaya Varma Sinha, who will be retiring on August 31.Kumar, a notable officer from the 1986 batch of the Indian Railway Service of Mechanical Engineers (IRSME), has made remarkable contributions to Indian Railways over a distinguished career spanning more than 34 years, as acknowledged by the Railway Board.

 

5. Subhasri appointed MD & CEO of Shriram Capital: Shriram Capital Pvt Ltd, the holding company of the Shriram Group, has appointed Subhasri as the company’s Managing Director and CEO.Subhasri who has been serving as the joint managing director, will take over the new role with a vision to drive the company towards greater heights of success.Her journey with Shiram Group began in 1991 as an officer in the NBFC business and over the years Subhasri has played a pivotal role in the company’s growth and expansion.Shriram Capital is the holding company of the Shriram Group, which is amongst the largest non-bank financiers in the country.Subhasri is a fellow member of Institute of Company Secretaries of India and Institute of Cost & Works Accountants of India.

 

INTERNATIONAL UPDATES:

 

1. Iran appoints Fatemeh Mohajerani as First Female Government Spokesperson: In Iran, for the first time, a woman will be the government spokesperson.At the suggestion of Iranian President Masoud Pezeshkian and with the approval of the Cabinet of Ministers, Fatemeh Mohajerani was appointed as the first female government spokesperson.Mohajerani, 54, is a Doctor of Business Administration from Edinburgh and has earlier served as the head of the Technical and Vocational Training University of Shariati (for women).This is the latest appointment of a woman to a senior position. Besides her, three women hold high positions in the government including Shina Ansari who was appointed last week as head of the Department of Environment.

 

2. Pakistani Christian becomes first in Goa to get citizenship under CAA: Joseph Francis A. Pereira, a Christian from Pakistan, has become the first person in Goa to receive Indian citizenship under the Citizenship Amendment Act (CAA).Chief Minister Pramod Sawant presented Pereira with his citizenship certificate during a ceremony in Panaji, the state capital.Pereira, who now resides in Cansaulim, South Goa, expressed his gratitude to Prime Minister Narendra Modi and Home Minister Amit Shah for introducing the CAA.Pereira, 78, retired in 2013 after working for 37 years in Bahrain. He settled in Goa with his wife, Martha Pereira, who was already an Indian citizen.The Citizenship Amendment Act allows Hindus, Sikhs, Jains, Christians, Parsis, and Buddhists from neighboring countries—Bangladesh, Pakistan, and Afghanistan—who entered India before December 31, 2014, to apply for citizenship after verification.

 

3. Siemens Healthineers gets India nod for Mpox test kit: German healthcare firm Siemens Healthineers AG received the Indian drug regulator’s approval to manufacture mpox detection kits in the country, a significant step to help screen and prevent the spread of the viral infection.

The kits will be manufactured by the company’s molecular diagnostics manufacturing unit in Vadodara, which has a production capacity of one million tests per annum.With the RT-PCR kits, the test results will be available in 40 minutes, which is significantly faster than traditional methods that take one to two hours. This will help reduce the turnaround time for reporting, leading to quicker responses.The IMDX Monkeypox Detection RT-PCR Assay is a molecular diagnostic test that targets two distinct regions in the viral genome, spanning both clade I and clade II variants of the virus.This ensures thorough detection across various viral strains, providing comprehensive results.

 

4. 25-29 August – World Water Week: The Stockholm International Water Institute (SIWI) is organising the next World Water Week on 25-29 August 2024.World Water Week is the leading conference on global water issues, held every year since 1991, and the theme for this year’s conference is “Bridging Borders: Water for a Peaceful and Sustainable Future “.This powerful theme encapsulates the urgent need for global cooperation in addressing water-related challenges that transcend national boundaries.The role of governance is critical when it comes to defusing tensions and preventing conflicts from escalating. It is important to learn from experiences from different contexts and analyze how governance structures can be more dynamic, flexible, and participatory.”

 

OTHER UPDATES:

DEFENCE

 

1. Senior IPS officer B Srinivasan appointed as DG of NSG: Senior IPS officer B Srinivasan has been appointed as the Director General (DG) of the National Security Guard (NSG).Srinivasan is a 1992 batch Indian Police Service (IPS) officer of Bihar cadre.He will take over as NSG director general after Nalin Prabhat’s departure to being deputed as Jammu and Kashmir’s Special Director General of Police.The Appointments Committee of the Cabinet has approved the appointment of Srinivasan as Director General, NSG, from the date of joining the post and up to August 31, 2027.

 

SPORTS 

 

2. 29 August – National Sports Day: National Sports Day is celebrated every year on 29 August.The day commemorates the birth anniversary of greatest field hockey player Major Dhyan Chand.Theme 2024 – Sports are an enabler to an inclusive and fit society.The Indian government officials announced to celebrate National Sports Day in 2012 marking August 29 as a day to recognise sports excellence. The date was selected to pay tribute to Major Dhyan Chand, also known as the ‘Wizard of Hockey’.Major Dhyan Chand was born on August 29, 1905, in Prayagraj, Uttar Pradesh. His career spanned from 1926 to 1948, when he played 185 matches for India scoring over 400 goals.His excellent performance brought the golden period for Indian hockey as he led India to win three gold medals in 1928, 1932 and 1936.

SCIENCE AND TECHNOLOGY

 

1. Amazon launches AI assistant chatbot ‘Rufus’ in India: Ecommerce major Amazon India has launched its artificial intelligence (AI)-powered shopping assistant ‘Rufus’ in India.Rufus is currently available in beta mode in India, and available only to some customers.The assistant can help shoppers get product recommendations, access shopping list advice, compare productcategories and see what other customers have said in response to their specific questions.The chatbot was first announced in the US in February this year, after which it was rolled out widely to all customers in the US in July.

 

BANKING AND FINANCE

 

1. Tata AIA Life launches ‘Sampoorna Raksha Promise’ product with ₹3 lakh instant payout feature: Tata AIA Life Insurance has unveiled its latest term insurance product, Sampoorna Raksha Promise. This product is designed to enhance financial security.Keeping in mind that the family may have to incur urgent expenses on the demise of the key member, it offers an instant payout of Rs. 3 lakhs on death claim intimation.Sampoorna Raksha Promise allows the policyholder to defer the premium by 12 months in such circumstances. When diagnosed with a terminal illness e.g. cancer, the consumer is paid 50% of the sum assured, even as the future premiums are waived and policy benefits continue to accrue.

 

2. Sampoorna Raksha Promise provides coverage up to the age of 100 with two plan options: Life Promise – Consumers can select a particular sum assured at the time of purchase, which is payable upon the policyholder’s death.Recent Facilities Launched in Banking & Insurance Sector: Bandhan Bank launches Avni Saving Account for Women CustomerKarnataka Bank unveils credit line on UPI in partnership with Navi TechnologiesRBL Bank launched Vijay Fixed Deposits to honor 78th Independence DayAxis Bank launches PRIMUS super-premium credit card with VISA PNB launches PNB ANTAH DRISHTI Braille Debit Card for visually impaired customersDBS Bank India launched “DBS Golden Circle,” a priority banking program for senior citizens.

 

3. YES Bank inks pact with Newtap Finance to offer financing solutions: YES Bank has entered into a co-lending partnership with Newtap Finance Private Limited to provide personalised financing solutions for creditworthy individuals on payments platform CRED.Dreamplug Technologies Private Limited (DTPL), which operates CRED, will serve as the Lending Service Provider (LSP) for YES BANK and Newtap Finance in this partnership.The collaboration aligns YES BANK’s financing expertise with CRED’s affluent member base, where in recognition of their demonstrated financial responsibility, CRED members will benefit from competitive rates and a superior, digital-first experience, designed to be intuitive and frictionless.

 

 

 

 

AWARDS AND HONOURS

 

1. Mother Teresa International Awards Celebrated in Dubai: The 24th International Mother Teresa Awards Ceremony took place at the Millennium Plaza Dubai, commemorating the 114th birth anniversary of the revered humanitarian.This prestigious event, organized by the All-India Minority and Weaker Sections Council, was held outside India for only the second time, with both international ceremonies having taken place in Dubai.The awards, established after Mother Teresa’s passing in 1997, recognized exceptional individuals who have made significant contributions in various fields including education, science, culture, sports, social work, medicine, industry, and politics in India.This year’s ceremony featured a diverse group of awardees from different countries and sectors. Notable recipients included the late João Bernardo Vieira II, from Guinea-Bissau , Sidharth Srivastava and Namit Bajoria from the industry sector, and Mohammed Mahtabur Rahman, Chairman of NRB Bank Limited.

 

 

Daily GK Update- 28th Aug, 2024

 NATIONAL UPDATES:

 

1. Amit Shah chairs seven LWE affected state’s meeting in Raipur: Union Home Minister and Minister of Cooperation, Amit Shah chaired a review meeting on Left-Wing Extremism (LWE) and an inter-state coordination meeting in Raipur, Chhattisgarh.The central government is committed to eradicating Left-Wing Extremism (Naxalislm) from the country before March 2026.

The meeting was attended by seven states- Chhattisgarh, Andhra Pradesh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, and Telangana.

 

2. Samanatham Tank in Madurai to be converted into bird sanctuary: Following Madurai Nature Cultural Foundation recommendations, the Tamil Nadu Forest Department will convert the Samanatham Tank in the Madurai district will be converted into a bird sanctuary.Samanatham Tank, documented 300 rare species of birds including Anhinga Melanogaster, Mycteria Leucocephala, Threskiornis Melanocephalus, Pelecanus Philippensis, Limosa Lapponica, Sterna Aurantia, and Pandion Haliaetus.There are 17 bird sanctuaries in Tamil Nadu, 15 wildlife sanctuaries, and four Tiger reserves.

 

3. Centre to create 5 new districts in Ladakh: The Ministry of Home Affairs has decided to create five new districts in the union territory of Ladakh.The creation of new districts will take the benefits meant for the people to their doorsteps by bolstering governance in every nook and cranny.These districts are – Zanskar, Drass, Sham, Nubra and Changthang.Ladakh currently has only two districts – Leh and Kargil. Both districts have their autonomous district councils which govern them. After the creation of the new districts, Ladakh will have seven districts in total.Until 2019, Ladakh was a part of the erstwhile state of Jammu and Kashmir. However, the BJP-led Central government that year revoked the special status accorded to the state. The government also divided the state into two union territories – Jammu and Kashmir and Ladakh.

 

4. Cabinet approves BioE3 (Biotechnology for Economy, Environment and Employment) Policy: The Union Cabinet, chaired by Prime Minister Narendra Modi approved the proposal ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High Performance Biomanufacturing’ of the Department of Biotechnology.The salient features of BioE3 policy include innovation-driven support to R&D and entrepreneurship across thematic sectors.This will accelerate technology development and commercialization by establishing Biomanufacturing & Bio-AI hubs and Biofoundry. Along with prioritizing regenerative bioeconomy models of green growth, this policy will facilitate the expansion of India’s skilled workforce and provide a surge in job creation.Overall, this Policy will further strengthen the Government’s initiatives such as ‘Net Zero’ carbon economy & ‘Lifestyle for Environment’ and will steer India on the path of accelerated ‘Green Growth’ by promoting a ‘Circular Bioeconomy’.

 

5. Arun Agarwal appoints as Chairman of Texas Economic Development Corporation: Texas Governor Greg Abbott has appointed Dallas-based Indian-American entrepreneur Arun Agarwal as the chairman of the Texas Economic Development Corporation’s (TEDC) board of directors.A key public-private partnership with the Governor’s Office of Economic Development and Tourism, TEDC is responsible for marketing Texas as the top US state for business, both domestically and globally.This appointment underscores Texas’s commitment to diversity and highlights the growing influence of Indian American leaders in major economic roles.Agarwal’s extensive experience in business, philanthropy, and international relations is expected to further elevate Texas’s standing as a global economic powerhouse.

 

INTERNATIONAL UPDATES:

 

1. North Korean Leader Kim Jong Un Unveils New ‘Suicide Drones’: North Korean leader Kim Jong Un recently unveiled a new type of “suicide drone”.These drones, designed to carry explosives and crash into enemy targets like guided missiles.The test was successful, with all drones accurately identifying and destroying their designated targets after flying along preset routes.Experts suggest that the technology behind these drones may have Russian origins.Suicide drones are explosive-carrying unmanned drones designed to be deliberately crashed into enemy targets, effectively acting as guided missiles.

 

2. SAP Labs India MD Sindhu Gangadharan appointed as NASSCOM chairperson: MD of SAP Labs India, Sindhu Gangadharan has been appointed as the chairperson of the industry body Nasscom.She will succeed President-designate Rajesh Nambiar once his tenure ends.In 2023, Sindhu was appointed as the chair of Nasscom GCC Council. She serves on the boards of Siemens India and Titan Company Ltd and is a member of the Steering Committee of the Indo-German Chamber of Commerce, fostering bilateral trade between India and Germany.

 

3. Jay Shah elected unopposed as new ICC chairman: Jay Shah has been elected as the new chairman of the International Cricket Council (ICC). He will succeed Greg Barclay and will assume charge on December 1.The secretary of the Board of Control for Cricket in India (BCCI) was elected unopposed as no nomination was filed against him.At 36, Shah will be the youngest head of the ICC. He will hold a term of three years with an option to continue for three more years. Shah will now have to relinquish his BCCI post, which he has held since 2019.

 

OTHER UPDATES:

DEFENCE

 

1. Sanjeev Raina appointed as Additional DG of ITBP: A senior officer from the 1987 batch of the Indo-Tibetan Border Police (ITBP), Sanjeev Raina has been appointed as the Additional Director General (ADG) of the ITBP.He will be specifically responsible for overseeing the forces along the India-China Line of Actual Control (LAC).This is a significant event because he is only the second officer who is not from the Indian Police Service (IPS) to reach this high rank in the history of the ITBP.Sanjeev Raina has been with the ITBP for more than 30 years, starting his service in November 1987. Throughout his career, he has played key roles in some of India’s most sensitive and difficult areas, such as Ladakh and Jammu and Kashmir.

 

SPORTS 

 

1. India clinch silver medal at Asian Surfing Championships 2024: India won a silver medal at the Maruhaba Cup, a team event, at the Asian Surfing Championships 2024 at Thulusdhoo, Maldives.

In the final, Japan won the gold medal by a substantial margin, with a score of 58.40 ahead of India, who recorded a score of 24.13. Taipei (23.93) and China (22.10) placed third and fourth, respectively.Earlier, the Indian team, consisting of Kamali P, Ajeesh Ali, Srikanth D and Sanjay Selvamani, secured first place in the Heat 2 semi-final with a total score of 32.16.Taipei followed in second place with a team score of 29.70 while the Republic of Korea finished third with a score of 27.74 in the same semi-final.India won the medal a day after securing their first-ever quota in surfing for the Asian Games.

 

SCIENCE AND TECHNOLOGY

 

1. Centre approves Unified Vigyan Dhara scheme to boost science and technology ecosystem: The Union Cabinet has approved the continuation of three umbrella schemes under a new unified central sector scheme named ‘Vigyan Dhara’ within the Department of Science and Technology (DST).The scheme, which will span from 2021-22 to 2025-26, has been allocated an outlay of Rs 10,579.84 crore.The ‘Vigyan Dhara’ scheme consolidates the following three broad components:

The primary goal of the ‘Vigyan Dhara’ initiative is to enhance the country’s Science, Technology, and Innovation (STI) ecosystem.The ‘Vigyan Dhara’ scheme aims to advance research in several key areas, namely, basic research, to facilitate access to international mega facilities, translational research, to focus on sustainable energy, water, and other critical areas, and collaborative research, to foster international bilateral and multilateral partnerships.

 

BANKING AND FINANCE

 

1. Goldman Sachs Group cuts India’s 2024 and 2025 GDP growth forecasts: Goldman Sachs Group Inc. has lowered India’s growth forecast by 20 basis points each for this year and the next, citing a contraction in central government expenditure.The bank now expects the nation’s economy to expand at 6.7% in calendar 2024, and 6.4% in 2025.The current year’s downgrade factors a 35% year-on-year contraction in government expenditure during the April-June quarter that coincided with the weeks-long general election.

 

2. Piramal Finance and Central Bank of India partner to reach underserved markets: Piramal Capital and Housing Finance Limited (Piramal Finance), a subsidiary of Piramal Enterprises Limited, has partnered with Central Bank of India to expand their co-lending operations.The alliance is focused on providing loans to middle and low-income borrowers, particularly in rural and semi-urban regions.The collaboration combines Central Bank of India’s extensive branch network with Piramal Finance’s technological approach to lending, which emphasizes both digital efficiency and personalized service.Through Piramal Finance’s 500+ branch network across 600 districts and 26 states, the partnership aims to offer competitive interest rates and tailored credit solutions to borrowers who are new to credit or underserved by traditional financial institutions.

 

Daily GK Update- 27th Aug, 2024

 NATIONAL UPDATES:

 

1. Petronet LNG inks MoU with Sri Lanka’s LTL Holdings: Petronet LNG (PLL) has entered into an MoU with LTL Holdings of Sri Lanka, for supply of LNG to LTL’s dual fuelled power plants in Kerawalapitiya, Colombo.Both parties, through this MoU, have agreed for development of LNG supply chain from PLLs LNG terminal, Kochi to LTLs power plant in Kerawalapitiya, Colombo.The proposed supply of LNG from PLL’s Kochi LNG Terminal would be through LNG ISO tank containers involving multi-modal transport system.The initial term of LNG supply would be 5 years, which is extendable subject to mutual agreement.

 

2. What is the Unified Pension Scheme?: The Modi government approved a new pension scheme called the Unified Pension Scheme (UPS). The UPS includes provisions for a fixed pension amount, ensuring retirees receive a guaranteed and predetermined sum regularly after retirement.Under UPS, if you work for 25 years or more, you will receive 50% of your average pay for the preceding 12 months as a pension, adjusted for inflation through dearness allowance.Employee contributions will remain the same under the UPS. However, the government will increase its contribution from 14% to 18.5%.At retirement under UPS, you will receive a lump sum payment at superannuation along with gratuity. This will be 1/10th of your monthly emoluments (pay + DA) on the date of superannuation for every six months of completed service. This payment will not reduce the assured pension amount.

 

INTERNATIONAL UPDATES:

 

1. India-US ink pact for mutual supply of defence goods & services: India and the United States have entered into a bilateral non-binding Security of Supply Arrangements (SOSA) to ensure the mutual supply of defence goods and services and address unanticipated supply chain disruptions to meet respective national security needs.Negotiations for the Reciprocal Defence Procurement Agreement (RDP), are still ongoing between the two countries. Through the RDP, Indian companies will be able to service US Department of Defence (DoD) contracts and vice versa, American businesses will have to honour Indian Ministry of Defence (MoD) deals.The two sides also signed the Memorandum of Agreement regarding the Assignment of Liaison Officers as a follow-up to the earlier mutually agreed decision to enhance information sharing between India and US.

 

2. India and Ukraine sign agreements in agriculture, medicine, and cultural cooperation: India and Ukraine have inked four agreements and resolved to enhance their cooperation in a range of key areas including defence, trade, pharmaceuticals, green energy and education.In the field of medical products regulation, the Central Drugs Standard Control Organisation of India and the State Service of Ukraine on Medicines and Drugs Control signed a Memorandum of Understanding (MoU). This MoU outlines plans for collaboration on improving the safety and quality of medical products through information exchange, capacity building, workshops, training, and mutual visits.Another MoU establishes the framework for Indian humanitarian grant assistance to support high-impact community development projects in Ukraine. These projects will be carried out in partnership with the Ukrainian government, aimed at benefiting the local population.

 

3. India-Denmark Launch Smart Laboratory for Clean Rivers Initiative: The main goal of the SLCR is to improve the health of the river and boost the local economy and social conditions. This will be achieved using advanced technology and a detailed river management plan over the next 2 to 3 years. The SLCR will use special models to study how the river’s water moves and behaves. It will also use real-time monitoring tools and data visualization to help make better decisions about managing the river. Certain parts of the Varuna River will get specific treatments to enhance the river’s health and benefit the local communities economically and socially.

 

OTHER UPDATES:

DEFENCE

 

1. IAF’s Sarang Team Showcases India’s Aviation Prowess at Egypt Airshow: The IAF dispatched its Sarang Helicopter Display Team to participate in the inaugural edition of the Egypt International Airshow.The event is scheduled to take place from September 3 to 5, 2024, at the strategically located Al-Alamein International Airport in Egypt’s El Dabaa.The airport, situated along the Mediterranean, serves as a major hub for global air, commercial, and logistical transport, making it an apt location for an event of this magnitude.The Sarang team, renowned for their precision and impressive aerial displays, will be showcasing the indigenous ‘Dhruv’ Advanced Light Helicopters (ALH Mk-I). These helicopters, built by Hindustan Aeronautics Limited (HAL), are multi-role and multi-mission, featuring a hinge-less composite main rotor, and are designed for both military and civilian applications. The contingent will be carrying five Sarang helicopters, which are being airlifted by C-17 Globemaster aircraft for the event.

 

SPORTS 

 

1. Lando Norris won Dutch Grand Prix: Lando Norris has won the Dutch Grand Prix to beat Max Verstappen in Zandvoort.McLaren’s Norris continued his run of poor starts as he failed to keep the lead on a sixth successive occasion from the front of the Formula 1 grid, but passed Red Bull’s Verstappen at the start of lap 18 before romping home to win by 22 seconds.Ferrari’s Charles Leclerc drove a brilliant race from sixth on the grid to hold off Norris’ McLaren team-mate Oscar Piastri for the final podium spot.

 

 

 

SCIENCE AND TECHNOLOGY

 

1. NCERT and Education Ministry launches e-magazine ‘Sapno ki Udaan’: The Union Ministry of Education released the inaugural edition of the e-magazine ‘Sapno ki Udaan’.The e-magazine was launched on the occasion of the first National Space Day, which was observed across the country on 23 August to commemorate the soft landing of the Vikram lander of the Chandrayaan -3 mission on the south pole of the Moon on 23 August 2023.As an e-magazine, Sapno ki Udaan’s inaugural and forthcoming editions will be available online for all readers on the NCERT portal.

The theme of the inaugural Sapno ki Udaan e-magazine was ‘Space’.All the articles, poems, etc., published in the inaugural edition are related to Space and the Chandrayaan Missions of the Indian Space Research Organisation (ISRO).

 

2. India launches world’s first mobile-launched hybrid rocket, RHUMI-I: The world’s first mobile hybrid rocket, RHUMI-1, was successfully launched. The successful launch of the RHUMI-1 rocket also marks the launch of the first reusable hybrid rocket in India.The rocket was developed by Chennai-based startup Space Zone India in collaboration with Martin Group.The success of RHUMI-1 is expected to improve the efficiency and reduce the operational cost of rocket launches, making space exploration more accessible.The RHUMI-1 rocket is launched from a mobile launcher like a special truck, and the rocket can be used again; hence, it is called a reusable rocket.The RHUMI-1 reusable hybrid rocket was launched from a mobile launcher in Thiruvidandhai, a coastal village in Chennai, Tamil Nadu.

 

3. IISER Pune Developed CsPbBr3: Growing large and high-quality CsPbBr3 crystals has been difficult for scientists. These crystals need to have certain properties, like being able to change their electric polarization (called ferroelectric properties) and having minimal dark current, which is unwanted electrical noise. These challenges have slowed down progress in using these crystals in new technologies.  The research team came up with a new way to grow these crystals using a process called solvothermal synthesis. This method involves dissolving the materials needed to form the crystals in a special solution at almost room temperature. This new approach allows the crystals to form more easily and with higher quality, overcoming some of the previous challenges.

 

4. 1835 Moon Hoax: On September 16, 1835, The Sun finally revealed that the articles were a hoax. Surprisingly, instead of losing readers, the newspaper’s popularity continued to grow. This demonstrated that people were fascinated by sensational stories, even if they weren’t true. This event highlighted the powerful influence that the press and media can have on shaping public perception. Famous writer Edgar Allan Poe criticized the articles for lacking originality and pointed out the irony that so many people believed such fantastical claims without questioning them.

 

5. Mission Rhumi 2024: The ‘Edutech for Space’ programme is an educational initiative designed to involve young students in the field of aerospace. A key participant in this program was 13-year-old Satrajit Samy, who, along with other students, had been preparing for this mission for over a year. The programme’s goal is to engage young minds in learning about space technology, making aerospace education accessible and exciting.

 

BANKING AND FINANCE

 

1. RBI cancels registration of Margdarshak Financial Services over high NPAs: The Reserve Bank of India (RBI) has cancelled the registration of Lucknow-headquartered Margdarshak Financial Services Ltd over high net NPAs and defaults on repayment to lenders.As on March 31, 2021, the company failed to maintain the minimum regulatory net owned fund of Rs 5 crore and minimum capital adequacy ratio of 15 per cent stipulated for NBFC-MFI.As per the statutory audit, as on March 31, 2021, the NBFC was facing cash flow issues and defaulted on repayment of Rs 49.27 crore to its lenders.Meanwhile, the RBI imposed penalties on NDX P2P Pvt Ltd and Innofin Solutions Pvt Ltd for non-compliance with certain provisions of ‘peer-to-peer lending platform’ and guidelines on digital lending.

 

2. Tata Power Solar Systems, ICICI Bank partner to finance solar units: Tata Power Solar Systems Ltd (TPSSL) has signed an agreement with ICICI Bank to provide financing for solar units to residential and corporate customers.As part of the agreement, the customers can avail themselves of loans up to Rs 90 lakh with collateral-free options and tenure extending up to 5 years.They can also get higher loans with collaterals with tenures of up to 20 years, said TPSSL, a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL).The customers can avail themselves of flexible down-payment option at 20-25 per cent of the loan amount, making it easier for them to invest in solar energy.

 

 

 

Daily GK Update- 26th Aug, 2024

 NATIONAL UPDATES:

 

1. Postal Dept launches Deen Dayal SPARSH Yojana to encourage Philately: The Department of Post under the Union Ministry of Communication has launched the Deen Dayal SPARSH Yojana to promote research and scholarship in stamps amongst the country’s students.This scholarship aims to inculcate the hobby of Philately among the children from a young age.This scholarship will be provided at all India level and each Postal circle will provide maximum 40 scholarships to 10 students of class 6, 7, 8, and 9 each. The amount of scholarship will be ₹ 6000/- per annum at the rate of ₹ 500/- per month, which will be payable on quarterly basis.While making selection for the scholarship, it should be kept in mind that the candidate must have secured at least 60 percent marks or equivalent grade/grade points in the last final examination. There will be a relaxation of 5% for SC/ST candidates.

 

2. NCERT and Education Ministry launches e-magazine ‘Sapno ki Udaan’: The Union Ministry of Education released the inaugural edition of the e-magazine ‘Sapno ki Udaan’.The e-magazine was launched on the occasion of the first National Space Day, which was observed across the country on 23 August to commemorate the soft landing of the Vikram lander of the Chandrayaan -3 mission on the south pole of the Moon on 23 August 2023.As an e-magazine, Sapno ki Udaan’s inaugural and forthcoming editions will be available online for all readers on the NCERT portal.

The theme of the inaugural Sapno ki Udaan e-magazine was ‘Space’.All the articles, poems, etc., published in the inaugural edition are related to Space and the Chandrayaan Missions of the Indian Space Research Organisation (ISRO).

 

3. Labour ministry launches centralised portal for construction workers: The government launched a portal where construction workers can register themselves to avail benefits of various schemesThe portal, named Building and other Construction Workers (BoCW) Management Information System (MIS).The portal will function as the centralised data management system for compilation and analysis of the data obtained from BoCW welfare boards of the states.The states and UTs were also requested to expedite the integration of BoC workers’ data with the E-Shram portal of the Ministry to enable access to various schemes as a one-stop-solution for unorganized sector workers.

 

4. Unified Pension Scheme to replace National Pension System in India: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Unified Pension System (UPS) for its employees. The new scheme will replace the existing National Pension System (NPS).The National Pension System was mandatory for central government employees except for the armed forces, which joined the service on 1 January 2004. Later, many state governments implemented the NPS for their employees.According to the government of India the Unified Pension Scheme is proposed to be implemented from 1 April 2025.

 

INTERNATIONAL UPDATES:

 

1. Petronet LNG inks MoU with Sri Lanka’s LTL Holdings: Petronet LNG (PLL) has entered into an MoU with LTL Holdings of Sri Lanka, for supply of LNG to LTL’s dual fuelled power plants in Kerawalapitiya, Colombo.Both parties, through this MoU, have agreed for development of LNG supply chain from PLLs LNG terminal, Kochi to LTLs power plant in Kerawalapitiya, Colombo.The proposed supply of LNG from PLL’s Kochi LNG Terminal would be through LNG ISO tank containers involving multi-modal transport system. The initial term of LNG supply would be 5 years, which is extendable subject to mutual agreement.

 

2. India-US ink pact for mutual supply of defence goods & services: India and the United States have entered into a bilateral non-binding Security of Supply Arrangements (SOSA) to ensure the mutual supply of defence goods and services and address unanticipated supply chain disruptions to meet respective national security needs.Negotiations for the Reciprocal Defence Procurement Agreement (RDP), are still ongoing between the two countries. Through the RDP, Indian companies will be able to service US Department of Defence (DoD) contracts and vice versa, American businesses will have to honour Indian Ministry of Defence (MoD) deals.The two sides also signed the Memorandum of Agreement regarding the Assignment of Liaison Officers as a follow-up to the earlier mutually agreed decision to enhance information sharing between India and US.Through the SOSA, the United States and India agree to provide reciprocal priority support for goods and services that enhance national defense, said the US Department of Defence in a statement to the media.

 

3. India and Ukraine sign agreements in agriculture, medicine, and cultural cooperation: India and Ukraine have inked four agreements and resolved to enhance their cooperation in a range of key areas including defence, trade, pharmaceuticals, green energy and education.In the field of medical products regulation, the Central Drugs Standard Control Organisation of India and the State Service of Ukraine on Medicines and Drugs Control signed a Memorandum of Understanding (MoU). This MoU outlines plans for collaboration on improving the safety and quality of medical products through information exchange, capacity building, workshops, training, and mutual visits.Another MoU establishes the framework for Indian humanitarian grant assistance to support high-impact community development projects in Ukraine. These projects will be carried out in partnership with the Ukrainian government, aimed at benefiting the local population.

 

4. Mumbai ranks 2nd, New Delhi 3rd in Global Property Price Index; Manila tops the list: Mumbai and New Delhi have recorded an annual increase in their real estate prices at 13% and 10.6% respectively, while Bengaluru has witnessed a modest 3.7% rise.Globally, Manila has topped the Knight Frank’s Prime Global Cities Index with an increase of 26%.The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.Across the 44 cities world-wide surveyed for this report, annual price growth slowed from 4.1% in Q1 to 2.6% in Q2 2024, remaining below the long-term average of 5.3%.Manila topped the charts with a 26% annual rise in Q2 2024. Dubai, after a 124% increase since 2020, saw slight moderation declining by 0.3% YoY, while Miami, up 77% since 2020, climbed 8% in the last year.

 

5. 26 August – International Dog Day: International Dog Day is observed every year on 26 August.

This day is all about recognising the importance of dogs in our lives, showing appreciation for them, and promoting their welfare.Theme 2024 – Every dog deserves a spa dayInternational Dog Day was first celebrated in 2004 by animal welfare activist and pet lifestyle expert Colleen Paige. Ms Paige chose the date of August 26 in particular as it was on this date that the activist’s family adopted their first dog “Sheltie” from the local animal shelter. Ms Colleen was 10 when the family welcomed Sheltie into their fold.

 

OTHER UPDATES:

DEFENCE

 

1. IAF’s Sarang Team Showcases India’s Aviation Prowess at Egypt Airshow: The IAF dispatched its Sarang Helicopter Display Team to participate in the inaugural edition of the Egypt International Airshow.The event is scheduled to take place from September 3 to 5, 2024, at the strategically located Al-Alamein International Airport in Egypt’s El Dabaa.The airport, situated along the Mediterranean, serves as a major hub for global air, commercial, and logistical transport, making it an apt location for an event of this magnitude.The Sarang team, renowned for their precision and impressive aerial displays, will be showcasing the indigenous ‘Dhruv’ Advanced Light Helicopters (ALH Mk-I). These helicopters, built by Hindustan Aeronautics Limited (HAL), are multi-role and multi-mission, featuring a hinge-less composite main rotor, and are designed for both military and civilian applications. The contingent will be carrying five Sarang helicopters, which are being airlifted by C-17 Globemaster aircraft for the event.

 

SPORTS 

 

1. Lando Norris won Dutch Grand Prix: Lando Norris has won the Dutch Grand Prix to beat Max Verstappen in Zandvoort.McLaren’s Norris continued his run of poor starts as he failed to keep the lead on a sixth successive occasion from the front of the Formula 1 grid, but passed Red Bull’s Verstappen at the start of lap 18 before romping home to win by 22 seconds.Ferrari’s Charles Leclerc drove a brilliant race from sixth on the grid to hold off Norris’ McLaren team-mate Oscar Piastri for the final podium spot.

 

SCIENCE AND TECHNOLOGY

 

1. India launches world’s first mobile-launched hybrid rocket, RHUMI-I: The world’s first mobile hybrid rocket, RHUMI-1, was successfully launched. The successful launch of the RHUMI-1 rocket also marks the launch of the first reusable hybrid rocket in India.The rocket was developed by Chennai-based startup Space Zone India in collaboration with Martin Group.The success of RHUMI-1 is expected to improve the efficiency and reduce the operational cost of rocket launches, making space exploration more accessible.The RHUMI-1 rocket is launched from a mobile launcher like a special truck, and the rocket can be used again; hence, it is called a reusable rocket.The RHUMI-1 reusable hybrid rocket was launched from a mobile launcher in Thiruvidandhai, a coastal village in Chennai, Tamil Nadu.

 

BANKING AND FINANCE

 

1. What is the Unified Pension Scheme?: The Modi government approved a new pension scheme called the Unified Pension Scheme (UPS). The UPS includes provisions for a fixed pension amount, ensuring retirees receive a guaranteed and predetermined sum regularly after retirement.Under UPS, if you work for 25 years or more, you will receive 50% of your average pay for the preceding 12 months as a pension, adjusted for inflation through dearness allowance.Employee contributions will remain the same under the UPS. However, the government will increase its contribution from 14% to 18.5%.At retirement under UPS, you will receive a lump sum payment at superannuation along with gratuity. This will be 1/10th of your monthly emoluments (pay + DA) on the date of superannuation for every six months of completed service. This payment will not reduce the assured pension amount.

 

2. BharatPe, OTO Capital and Volt Money bring secured loans to its merchant partners: BharatPe has partnered with OTO Capital, a digital commerce and lending platform, to enable two-wheeler loans.Additionally, the company has partnered with Volt Money to facilitate loans against Mutual Funds to its merchant partners. In the next phase, the company plans to expand this to a multi-product and multi-lender offeringBharatPe’s merchants can now avail two-wheeler loans of up to Rs. 2.5 lacs, at competitive interest rates, for their next two-wheeler purchase from OTO Capital.The loan application process is 100% digital and merchants have the option to choose the repayment period between 12- 48 months.

 

3. RBI cancels registration of Margdarshak Financial Services over high NPAs: The Reserve Bank of India (RBI) has cancelled the registration of Lucknow-headquartered Margdarshak Financial Services Ltd over high net NPAs and defaults on repayment to lenders.As on March 31, 2021, the company failed to maintain the minimum regulatory net owned fund of Rs 5 crore and minimum capital adequacy ratio of 15 per cent stipulated for NBFC-MFI.As per the statutory audit, as on March 31, 2021, the NBFC was facing cash flow issues and defaulted on repayment of Rs 49.27 crore to its lenders.Meanwhile, the RBI imposed penalties on NDX P2P Pvt Ltd and Innofin Solutions Pvt Ltd for non-compliance with certain provisions of ‘peer-to-peer lending platform’ and guidelines on digital lending.

 

 

 

 

 

Daily GK Update- 25th Aug, 2024

 NATIONAL UPDATES:

 

1. Actor Vijay launches his political party Tamilaga Vettri Kazhagam’s flag: Tamil cinema’s leading actor and Tamilaga Vettri Kazhagam president Vijay launched his party’s flag and flag song at the party headquarters at Panaiyur in Chennai.Vijay introduced the two-coloured flag with red on top and bottom; yellow in the middle; and a flower resembling Vaagai surrounded by 28 stars at the centre with two trumpeting tuskers facing each other on either side.Warriors of ancient Tamil kingdoms wore Vaagai flower garlands to symbolise victory. Mr. Vijay also hoisted the flag at the party’s headquarters and launched the party’s flag song Thamizhan Kodi Parakuthu.Vijay had in February, this year announced the formation of his political party Tamilaga Vettri Kazhagam and declared that his party would enter the electoral fray in the 2026 Tamil Nadu Assembly elections.

 

2. Odisha Chief Minister Mohan Majhi launched Subhadra scheme: The Bharatiya Janata Party Government led by Chief Minister Mohan Majhi, announced the implementation of the Subhadra scheme under which ₹50,000 will be provided over five years to one crore women between the ages of 21 and 60.The Subhadra scheme is one of the key poll promises made by the BJP which came to power toppling 24 years rule of former Chief Minister Naveen Patnaik.The Scheme has been approved for implementation from the financial year 2024-25 to financial year 2028-29. An outlay of ₹55,825 crore has been made for this initiative.Subhadra will transform the lives of more than one crore women of the State. It will cover all eligible women aged 21 years or above and less than 60 years.A total of ₹10,000 per annum will be paid in two installments of ₹5000 each on Rakhi Purnima Day and International Women’s Day (March 8).

 

3. DGCA fines Air India Rs 90 lakh for operating flight with unqualified crew: Civil aviation regulator Directorate General of Civil Aviation (DGCA) has slapped a fine of ₹90 lakh on Air India for operating a flight on July 9 from Mumbai to Riyadh with an unqualified crew.Besides, the watchdog has slapped fines of Rs 6 lakh and Rs 3 lakh on Air India’s Director of Operations and Director of Training, respectively, for the lapse.Air India Ltd operated a flight commanded by a non-trainer line captain paired with a non-line-released first officer which has been viewed by the regulator as a serious scheduling incident having significant safety ramifications.

 

INTERNATIONAL UPDATES:

 

1. Nestlé CEO Mark Schneider steps down after 8 years; Laurent Freixe to take over: Nestle chief executive Mark Schneider quit from the Swiss food group after eight years in charge.He will be replaced by Latin America boss Laurent Freixe.Laurent Freixe joined Nestle in France in 1986 and has “successfully managed” the company’s European zone during the 2008 financial crisis and until 2014.After this he was named CEO of the Americas region before taking over at the newly created Latin America zone in 2022, “where he has been successfully leading through challenging conditions”.

 

2. India, Ukraine Sign Agreements to Strengthen Bilateral Ties:  One of the key areas they focused on was defence. The leaders agreed to work together more closely on defence matters, including creating joint ventures to manufacture military equipment in India. This will help strengthen their strategic ties. Since the war in 2022, trade between India and Ukraine has decreased. To address this, Modi and Zelenskyy decided to task the India-Ukraine inter-governmental commission with revitalizing trade and bringing it back to the levels it was at before the conflict.

 

3. US Approves $52.8 Million Sonobuoy Sale to India: The purpose of this sale is to support stability in the region rather than disrupt it. It is designed to maintain the current military balance, ensuring that the region remains peaceful. The companies expected to be the main contractors for this sale are Sparton Corporation and Undersea Sensor Systems Inc. There haven’t been any reports about additional agreements, known as “offset agreements,” related to this deal. This proposed sale of anti-submarine warfare equipment to India is a significant step in boosting defence relations between the US and India. It reflects the shared interests of both countries in security and strategic cooperation, especially in a world where the geopolitical landscape is rapidly changing.

 

OTHER UPDATES:

DEFENCE

 

1. India, and Indonesia Condemn Cross-Border Terrorism From Pakistan: The meeting also addressed concerns about how terrorists are using new technologies. This includes the misuse of the internet for carrying out terrorist activities and funding their operations. India and Indonesia agreed on the importance of sharing information about terrorism threats and working together more closely in regional and global forums like the United Nations and the ASEAN Regional Forum to improve counter-terrorism efforts.

 

SPORTS 

 

1. Ronak Dahiya wins Bronze in U-17 Wrestling Championship: Indian wrestler Ronak Dahiya won bronze medal in Men’s Greco-Roman 110 kilograms event at Under-17 World Wrestling Championship in Jordan.Dahiya defeated Turkish wrestler Emrullah Capkan 6-1 in the crucial medal match.With this, India has finished their campaign in Men’s Greco-Roman category with two Bronze medals in the championship as Sainath Pardhi also secured Bronze in GR 51 kilograms category.

 

2. Neeraj Chopra won silver in Lausanne Diamond League: Star Indian javelin throw athlete Neeraj Chopra registered a season-best throw of 89.49m at the Lausanne Diamond League 2024, in his first competitive appearance since he bagged silver for the nation at the Paris Olympics 2024.The 26-year-old was edged out by Grenada’s Anderson Peters, who claimed the top spot in Switzerland with a mammoth throw of 90.81m. Julian Weber of Germany came in third on the day with a best throw of 87.08m.The top six javelin throwers in the season’s standings qualify for the final in Belgium slated to be held on the 14th of September.

 

3. Shikhar Dhawan retires from all forms of Cricket: One of the finest One Day Internationals (ODI) batsmen in the world, Shikhar Dhawan has announced his retirement from all forms of cricket. His last competitive match was for Punjab Kings in the Indian Premier League (IPL) in April 2024. Shikhar Dhawan played 269 international matches in his cricketing career and scored 24 hundreds-17 in ODIs and 7 in test matches.His last game for India was an ODI against Bangladesh in December 2022.Shikhar Dhawan, nicknamed ‘Gabbar’ by his teammate, is a left-handed batsman who made his debut for India in an ODI Match against Australia in Visakhapatnam in 2010.He created a world record by scoring the fastest century by a debutant in a Test match, an 85-ball hundred against Australia in Mohali in the 2013 Test match.

 

SCIENCE AND TECHNOLOGY

 

1. India Celebrates First National Space Day on August 23: As India looks ahead, there’s a lot of excitement about upcoming space missions, especially Gaganyaan, which is India’s plan to send humans into space in 2024. The government has a clear vision for the future, aiming to keep India at the forefront of space exploration. National Space Day is a time to remember India’s incredible achievements in space. It honors the scientists who have made these accomplishments possible and also serves as a reminder of the exciting future that lies ahead for India’s space program.

 

2. Polaris Dawn Aims for Historic Non-Government Spacewalk: During the mission, the crew will travel through the Van Allen Belts, which are two rings of charged particles surrounding Earth, held in place by Earth’s magnetic field. These belts are filled with radiation that can be harmful to astronauts. The inner belt contains high-energy particles from cosmic rays, while the outer belt has particles from the sun. Studying how this radiation affects humans is crucial for future space missions, especially those that will travel farther into space.

 

BANKING AND FINANCE

 

1. Bandhan Bank launches Avni Saving Account for Women Customer: Kolkata-based Indian Private sector bank Bandhan Bank has launched an exclusive savings account, Avni, for women customers.The bank launched the product on its 9th foundation day, which is on 23 August.The bank also launched a customer loyalty programme called Bandhan Banks Delight. The bank is women-focused, and of its 3.4 customers,73% are women.With the Avni account, customers receive an exclusive debit card that provides benefits like free airport lounge access, personal accident insurance coverage of ₹10 lakh, lost card liability coverage of ₹3.5 lakh, and special milestone-based offers from premium brands. Avni also offers discounts on annual locker rentals, gold loan processing fees, and beauty and wellness products.