Daily GK Update- 7th Sept, 2024

 NATIONAL UPDATES:

 

1. Bengaluru’s Siddhartha Aggarwal becomes oldest Indian to swim across English Channel solo: Siddhartha Agarwal, a 49-year-old swimmer from Bengaluru, has made history by becoming the oldest Indian to swim across the English Channel. Agarwal successfully navigated the 42-km stretch between England and France, completing the grueling swim in an impressive 15 hours and six minutes. Agarwal’s quest in the freezing waters of the English Channel first began in 2018 when he crossed the Channel as part of an eight-member relay team. Incidentally, this was the same year when Srikaanth Viswanathan, also from Bengaluru, entered the Limca Book of Records for becoming the oldest to swim the English Channel solo at the age of 46. Six years later, Agarwal, affectionately known as “Sid” in the swimming community, surpassed his compatriot’s record. The final 10 km of his swim presented the greatest challenge, as he battled rigid conditions and high tides, exacerbated by winds reaching approximately 25 miles per hour. Despite these obstacles, Agarwal successfully completed the swim, solidifying his place in the record books.

 

2. Giriraj Singh launches India’s first fashion forecasting initiative ‘VisioNxt’: Union Minister of Textiles, Giriraj Singh has launched the ‘VisioNxt Fashion Forecasting Initiative’ of the National Institute of Fashion Technology (NIFT), a bilingual web portal, and the India-specific Fashion Trend Book ‘Paridhi 24×25’. VisioNxt initiative will foster healthy global competition and elevate Indian culture and design to new heights on the global stage. The fashion industry will benefit from Artificial Intelligence (AI) and Emotional Intelligence (EI) based trend insights offered by VisioNxt. NIFT VisioNxt is India’s first-ever initiative that combines AI and EI to generate fashion trend insights and forecasts. Its mission is to identify, map, and analyse geo-specific trends, reflecting the positive plurality, cultural diversity, and socio-economic nuances of India while collating comprehensive trends and insights.

 

3. IRDAI asks insurance companies to integrate IT systems with Digilocker: The Insurance Regulatory and Development Authority of India has asked insurance companies to enable their IT systems to interact with Digilocker, allowing policyholders to use the service effectively. Both life and general insurers are mandated to provide an essential summary of important information at different stages of the insurance contract. In its Master Circular on Protection of Policyholders’ Interests under the Irdai (Protection of Policyholders’ Interests, Operations, and Allied Matters of Insurers) Regulations, 2024, replacing 30 circulars, the regulator consolidated policyholder entitlements into a single reference document and emphasised measures towards providing a seamless, faster, and hassle-free claims settlement experience to a policyholder and enhance service standards to foster a climate of trust and transparency within the insurance sector. This includes guidance for prospects, policyholders, and customers prior to sale, at the proposal stage, upon receiving policy documents, during the policy’s term.

 

INTERNATIONAL UPDATES:

 

1. Ministry of Panchayati Raj and UNICEF signed Letter of Intent to strengthen Systems for Social Change: The Ministry of Panchayati Raj and UNICEF India signed a Letter of Intent (LoI) to collaborate on strengthening systems and engaging communities for social change. This partnership aims to set up and institutionalize mechanisms for effective communication between the Ministry, Elected Representatives & Field Functionaries of Panchayati Raj Institutions and Rural Communities. The collaboration will help accelerate progress on localized Sustainable Development Goals (SDGs) by enabling better communication with citizens, particularly women and children and improving the delivery of services to rural citizens.

 

2. Sharath Kamal named first Indian ambassador of ITTF Foundation: Ace paddler Sharath Kamal has been named the first Indian ambassador of the International Table Tennis Federation (ITTF) Foundation. The announcement was made during day 11 of the Ultimate Table Tennis (UTT) season five at Jawaharlal Nehru Indoor Stadium. Sharath was elected to the ITTF’s Athlete’s Commission in November 2022. He will promote table tennis for development, especially among children from underprivileged backgrounds. He holds the record for the most medals in Commonwealth Games history for table tennis, including 13 medals with three golds at the 2022 Birmingham Game.

 

3. President Emmanuel Macron appoints Michel Barnier as new French PM: French President Emmanuel Macron appointed Michel Barnier, the European Union’s former Brexit negotiator, as his new prime minister. Michel Barnier led the EU’s talks with Britain over its exit from the bloc from 2016-2021. Prior to that, the conservative politician held roles in various French governments and was also EU Commissioner. At 73, Barnier is the oldest prime minister in France’s modern political history, taking over from Gabriel Attal, who was the youngest.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Navy and South African Navy sign agreement to enhance submarine rescue support cooperation: The navies of India and South Africa have signed an implementation agreement to enhance submarine rescue support cooperation that ensures the “safety of the South African Navy’s submarine crew in times of distress or accident.” Under this agreement, the Indian Navy will provide assistance by deploying its Deep Submergence Rescue Vehicle (DSRV) when required, further strengthening the collaborative ties between the two navies. The agreement was signed by Indian Navy Chief Admiral Dinesh K. Tripathi and Vice Admiral Monde Lobese, Chief of the South African Navy. The DSRV is designed for ease of transportation in case of any exigency. For this purpose, the entire system has been divided into 24 components which can be easily transported by road, sea or air. The system is attached to a mother ship INS Sabarmati of the Ship Building Corporation, or it can also be transported by heavy transport aircraft like IL-76 and C-17.

 

SPORTS 

 

1. Ajeet Singh clinches silver medal in javelin throw, Sundar Singh Gurjar wins bronze at Paris Paralympics: India’s Ajeet Singh and Sundar Singh Gurjar won the silver and bronze medals, respectively, in the men’s javelin throw F46 class at the Paris Paralympics 2024. Ajeet Singh, 30, won the silver medal with his penultimate throw of the night which measured 65.62m at the Stade de France. Sundar Singh Gurjar was in second position after his fourth throw landed at 64.96m but was pushed down to third after Ajeet Singh’s late comeback. Cuba’s Guillermo Varona Gonzalez hit the 66.14m mark on his second throw and went on to win the gold medal.

 

2. Praveen Kumar wins gold medal in Men’s High Jump T64 final:  At the Paris Paralympic Games, star athlete Praveen Kumar bagged a gold medal in the Men’s High Jump T64 final.Praveen secured the top spot on the podium with a brilliant effort of 2.08m, setting a new Area record. In a tightly contested final, Praveen made seven successful jumps in a row to claim the number one position.Loccident Derek of the USA won the silver medal, while Giyazov Temurbek of Uzbekistan took home the bronze.

 

3. Hokato Hotozhe Sema on winning bronze medal in Men’s F57 shot put: Hokato Hotozhe Sema has won the bronze medal in the men’s F57 shot put event in Paris Paralympic 2024.The 40-year-old from Dimapur made himself the first-ever medallist from Nagaland to win a bronze at the Paralympic Games for shotput, with a career-best throw of 14.65 meters.Hokato, a Havildar with 9 Assam Regiment, reportedly lost his leg due to a landmine explosion during an operation at the Line of Control in 2002. Currently, he is ranked 7th in the world.

 

BANKING AND FINANCE

 

1. Suryoday Small Finance Bank partnered with Tarrakki to offer digital fixed deposits: Suryoday Small Finance Bank has partnered with Tarrakki, a new fintech platform, to develop and offer digital fixed deposits.Through this relationship, Tarrakki will assist in developing tech products that surpass older systems, allowing SSFB to swiftly onboard new customers and offer digital fixed deposit products.This collaboration will take the shape of software development kits (SDKs) and white-label services. Suryoday Small Finance Bank is a premier new-age digital bank in India, committed to digital products that improve client centricity.This next-generation platform, driven by Tarrakki, will reduce the cost and time necessary for product launches by the bank and its partners.

 

2. Kotak General Insurance rebrands as Zurich Kotak General Insurance: Kotak General Insurance has re-branded itself as Zurich Kotak General Insurance, following the Zurich Insurance Group’s acquisition of a majority stake in the insurer, which was completed on 18 June 2024.Reflecting the shared vision of the Zurich Kotakentity, the new brand symbolizes the collective commitment to trust, innovation, integrity, and customer excellence.The legal name of the entity changes from Kotak Mahindra General Insurance Company Limited to Zurich Kotak General Insurance Company (India) Limited.Zurich Kotak General Insurance is fully committed to fostering the development and expansion of India’s insurance sector in keeping with the Insurance Regulatory and Development Authority of India’s (IRDAI) goal of achieving “Insurance for All” by 2047.MD and CEO of Zurich Kotak General Insurance – Suresh Agarwal

 

3. BOI launches 333-Day Star Dhan Vriddhi FD: Bank of India (BOI) has launched a fixed deposit scheme called ‘Star Dhan Vriddhi Fixed Deposit’ that will have a term limit of 333 days. These revised rates are effective September 1, 2024.The Star Dhan Vriddhi Fixed Deposit offers an interest rate of 7.90 per cent per annum for the so-called super senior citizens.Senior citizens can benefit from an interest rate of 7.75 per cent per annum, while the general public is offered a rate of 7.25 per cent per annum.Customers can also avail of additional benefits such as loans against fixed deposit and premature withdrawal facilities, adding to the flexibility of this investment option. Customers can open this fixed deposit through any Bank of India branch or via the BOI Omni Neo App and internet banking.

 

AWARDS AND HONOURS

 

1. President Murmu confers National Teachers Award 2024 to 82 teachers: President Droupadi Murmu conferred the ‘National Teachers’ Award to 82 educators from across institutions, during a ceremony held at Vigyan Bhavan on the occasion of Teacher’s Day.50 of the total 82 awardees are attached with schools, 16 (higher education), and 16 (Ministry of Skill Development and Entrepreneurship).Each award carries a certificate of merit, a cash award of 50 thousand rupees and a silver medal.Among the recipients is Urfana Amin from Jammu & Kashmir, who teaches at BHSS Soura, Hawal, Srinagar. Amin, an expert in English, Entrepreneurship, and teacher training, provided radio classes during the COVID-19 pandemic and developed educational materials such as FLN modules and e-content for DIKSHA.

 

 

Daily GK UPdate- 6th Sept, 2024

 NATIONAL UPDATES:

 

1. ISA to launch $100 million solar facility, insurance mechanism to accelerate solar power projects: The International Solar Alliance (ISA) will launch a $100 million fund, Global Solar Facility, that will help catalysing up to $1.5 billion in funding to expand decentralised solar power capacities across the least developed countries in Africa, where more than 700 million people have no access to electricity. Besides, the international organisation aiming to electrify the global south is also working on creating an insurance mechanism, which will also aid in accelerating funding in poor countries. The festival aims to catalyse global solar adoption by forging partnerships, unlocking innovative financing, deploying cutting-edge technology and boosting capacity in ISA member countries. Aligning businesses, policymakers, and financial institutions, it will serve as a launchpad for collaborations that fast-track the world’s transition to a future powered by affordable, reliable and sustainable solar energy.

 

2. President Murmu approves constitution of 23rd Law Commission for three-year term: President Droupadi Murmu has approved the constitution of the 23rd Law Commission of India, with its term set from September 1, 2024, to August 31, 2027. The commission will include a full-time chairperson, four members, and additional ex-officio and part-time members. The commission’s mandate is to review and recommend legal reforms to enhance the Indian legal system.The 22nd Law Commission’s term ends 31 August 2024. The commission has been functioning without a chairperson for several months, delaying crucial reports, including those on the Uniform Civil Code and simultaneous elections.In March 2024, Justice Ritu Raj Awasthi, the then Chairman of the Law Commission, resigned after a 17-month tenure. While the report on simultaneous elections is ready, it cannot be submitted to the Law Ministry due to procedural requirements that stipulate the need for a chairperson.

 

3. MP govt approves ‘Brindavan Gram’ scheme for rural areas: The Madhya Pradesh government has approved the ‘Brindavan Gram’ scheme, under which, ‘gaushalas’ and other schemes benefitting the villagers will be established.This scheme is the flagship of Chief Minister Mohan Yadav, a formal announcement was made on the occasion of Janmashtami.The selected gram panchayats will be named – ‘Brindavan Gram’. Madhya Pradesh has a total of 313 blocks, and one gram panchayat will be selected from each block. Gaushalas (cow sheds) will be established and milk production will be promoted.

 

4. Telangana, TN top in GSDP growth among 10 largest States: Telangana, Tamil Nadu, and Rajasthan have recorded the highest growth in real gross state domestic product (GSDP) in FY24 among the 10 largest States ranked according to their GSDP.This is revealed in the analysis of data on recent estimates put out by MoSPI.In FY24, Telangana, the ninth biggest State, grew its economy at 9.2 percent to reach real GSDP of ₹7.9 lakh crore. This is faster than national GDP growth of 8.2 percent.Tamil Nadu, which is the third largest State, grew its economy by 8.2 percent to reach ₹15.7 lakh crore in size. Rajasthan, at seventh spot, grew 8 percent.Tamil Nadu’s services sector, which holds 52 percent share in total GVA, grew 9 percent and Telangana’s services sector with 63 percent share, grew 11 percent, MoSPI data show. Services underperformed in Maharashtra clocking just about 9 percent growth relative to 13 percent in FY23.

 

5. Partha Sinha appointed as the new Chairman of ASCI: The Advertising Standards Council of India (ASCI) has appointed Partha Sinha as its new Chairman for 2024-25.Sinha is the President and Chief Brand Officer of Bennett Coleman & Company Limited.Sinha, who has worked with companies like Ogilvy, Publicis, BBH,McCann, and Citibank, will take over from Saugata Gupta, Managing Director and Chief Executive Officer of Marico Limited.

 

INTERNATIONAL UPDATES:

 

1. UAE and India sign MoU to strengthen public sector audit cooperation: The Comptroller and Auditor General of India signed an MoU with the UAE Accountability Authority of the United Arab Emirates, Supreme Audit Institution, UAE during a bilateral meeting with the President of UAE Accountability Authority.This MoU is a testament to the shared values and goals of our institutions and reinforces the strong ties between India and the UAE.The MoU aims to foster collaboration between the two Supreme Audit Institutions, focusing on areas such as knowledge exchange, capacity building, and best practices in public sector auditing. By sharing expertise and experiences, both countries seek to strengthen their respective audit methodologies and improve overall governance.

 

2. India to hold 2nd edition of International Conference on Green Hydrogen from Sept 11-13: India will hold the second edition of the International Conference on Green Hydrogen from 11th to 13th September in New Delhi.The goal of this three-day event is to deepen our understanding of the green hydrogen landscape and foster connections with global scientific communities and industries.India as a whole also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070.New and Renewable Energy Minister – Pralhad Joshi

 

3. Global Textiles Expo Bharat Tex 2025 to held from February 14th to 17th next year: The Global Textiles Expo—Bharat Tex 2025 will be held from February 14th to 17th next year at Bharat Mandapam in the national capital and at the India Expo Centre and Mart in Greater Noida.Over five thousand exhibitors and more than six thousand international buyers will participate in the Expo, which is a collaboration between the government and industry.The Expo focusses on the vision of 5F (Farm to Fibre, Fibre to Factory, Factory to Fashion, and Fashion to Foreign).Through Bharat Tex, the Ministry of Textiles and industry stakeholders have created an umbrella that has attracted global attention.Union Minister for Textiles – Giriraj Singh

 

4. India, Singapore signed agreements on semiconductors, healthcare.: India and Singapore unveiled agreements for a semiconductor ecosystem partnership and greater interoperability between their digital economies even as they elevated their relations to a comprehensive strategic partnership.India and Singapore announced four agreements on semiconductors, digital cooperation, healthcare and medical research, and education and skill development.The MoU on a semiconductor ecosystem partnership envisages cooperation to support India’s growing semiconductor industry while facilitating Singapore’s companies and supply chains to enter the Indian market.The MoU on cooperation in digital technology will encourage greater interoperability between the digital economies of the two countries and build on earlier work such as linking the digital payment systems of India and Singapore. The main areas of cooperation under this MoU are data flows and data protection, digital utilities and digital public infrastructure.

 

5. 5th September – International Day of Charity: The International Day of Charity is a global observance held annually on September 5th. It was established by the United Nations General Assembly in 2012.The primary objective of this day is to increase awareness and create a shared platform for charity-related activities worldwide.The International Day of Charity was proclaimed by the United Nations General Assembly in 2012, in response to a proposal by Hungary.The date of September 5 was chosen to commemorate the anniversary of the death of Mother Teresa of Calcutta, who was a Nobel Peace Prize laureate for her work in helping the poor and sick.Mother Teresa was a Catholic nun who founded the Missionaries of Charity, a religious congregation that provides care for the poor, sick, orphaned, and dying.

 

OTHER UPDATES:

 

SPORTS 

 

1. Luis Suarez retires from Uruguay national team: Celebrated football striker Luis Suarez is ending his historic run with the Uruguay national team.The nation’s all-time leading scorer with 69 goals, Suarez announced that he will retire from international duties following the FIFA 2026 World Cup qualifier against Paraguay in Montevideo, Uruguay.Suarez has made 142 appearances for Uruguay, playing in four World Cups and winning the 2011 Copa America title.In his debut MLS campaign, Suarez has posted two consecutive braces and is tied for third in the league with 16 goals through 20 matches for Inter Miami this season.

 

2. Kapil Parmar wins historic Judo bronze for India at Paralympics: At Paris Paralympics 2024 India’s JudoKa Kapil Parmar won bronze medal in Para Judo men’s -60kg J1 category beating Brazil’s Elielton de Oliveira .This is the first medal in this event in India’s history of Paralympics. The match ended in just 33 seconds.Parmar produced a superlative performance, dominating his opponent from start to finish to record a 10-0 win in the bronze medal contest.He had earlier lost to S Banitaba Khorram Abadi in the semifinals, beaten 0-10 by his Iranian opponent.Parmar, who won the silver medal at the 2022 Asian Games in the same category, had earlier beaten Venezuela’s Marco Dennis Blanco 10-0 in the quarterfinals.The J1 class in para judo is for the athletes who suffer from no to very low visual activity. Athletes in this category wear red circles to indicate that they may need guided support before, during and after a contest.

 

3. Wrestler Jyoti Berwal wins gold medal in U20 World Championships: In wrestling, Jyoti Berwal clinched a gold medal in the women’s 76 kg freestyle category at the U20 World Championships in Pontevedra, Spain.Jyoti defeated Ukraine’s Mariia Orlevych in the final. On her way to the final, Jyoti defeated Mongolian, Chinese, and Turkish opponents.This was India’s second consecutive world U20 title in women’s 76 kg after Priya Malik claimed it in the 2023 edition.Indian grapplers won two more medals in the same category. Komal in 59 kg and Sristhi in 68 kg bagged bronze medals.

 

BANKING AND FINANCE

 

1. AU Small Finance Bank applies for transition to Universal Bank: AU Small Finance Bank has submitted an application to the Reserve Bank of India to seek approval for the voluntary transition from a Small Finance Bank (SFB) to a Universal Bank.This application comes in the backdrop of Fincare Small Finance Bank (Fincare SFB) amalgamating with and into AU SFB with effect from April 1, 2024, marking the first such consolidation in the SFB space.In April 2024, the RBI issued a circular allowing the voluntary transition of Small Finance Banks to Universal Banks and AU SFB is the first Bank to seek regulatory approval for the transition.To qualify, as per the RBI guidelines, SFBs need a five-year track record, strong financials, and a stock exchange listing among various other parameters.

 

2. Star Health launches India’s first health insurance policy in Braille: Star Health and Allied Insurance has introduced an insurance policy in Braille.This is aimed at empowering visually impaired individuals in India. This will allow the blind community to access health insurance information independently.The new “Special Care Gold” policy provides tailored health coverage for individuals with disabilities.The policy is designed to meet the specific needs of people with 40% or more disability, including physical, sensory, or cognitive impairments.Star Health has also launched a financial inclusivity drive, offering visually impaired individuals the opportunity to become health insurance agents.The initiative focuses on training and upskilling this marginalized group, allowing them to generate income while working from home.

 

Daily GK Update- 5th Sept, 2024

 NATIONAL UPDATES:

 

1. Cabinet approves fifth semiconductor unit in Sanad: The Union Cabinet chaired by PM Narendra Modi approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with the objective to develop a vibrant semiconductor ecosystem. The proposed unit will be setup with an investment of Rs 3,300 crore. The capacity of this unit will be 60 Lakh chips per day. The chips produced in this unit will cater to a wide variety of applications which include segments such as industrial, automotive, electric vehicles, consumer electronics, telecom, mobile phones, etc. The Programme for Development of Semiconductors and Display Manufacturing Ecosystem in India was notified on 21.12.2021 with a total outlay of Rs. 76,000 crore. In June, 2023, the Union Cabinet had approved the first proposal for setting up a semiconductor unit in Sanand, Gujarat. In February, 2024, three more semiconductor units were approved.

 

2. Cabinet approves 7 major schemes for improving farmers’ lives and livelihoods with a total outlay of Rs 14,235.30 Crore: The Union Cabinet chaired by Prime Minister, Narendra Modi approved seven schemes to improve farmers’ lives and increase their incomes at a total outlay of Rs 14,235.30 Crore.Digital Agriculture Mission: based on the structure of Digital Public Infrastructure, Digital Agriculture Mission will use technology to improve farmers’ lives. The Mission has a total outlay of Rs 2,817 crores. Crop science for food and nutritional security: with a total outlay of Rs 3,979 crore. The initiative will prepare farmers for climate resilience and provide for food security by 2047.

 

3. Strengthening Agricultural Education, Management, and Social Sciences: with a total outlay of Rs 2,291 Crore the measure will prepare agriculture students and researchers for current challenges. RIL becomes India’s first company to surpass Rs 10 lakh crore in annual revenue: Reliance Industries Limited (RIL) has become the first Indian company to surpass Rs 10 lakh crore in annual revenue. This significant milestone was announced by RIL chairman Mukesh Ambani during the company’s Annual General Meeting (AGM). During the AGM, Ambani revealed that Reliance achieved a record consolidated turnover of Rs 10,00,122 crore (USD 119.9 billion), for the financial year 2023-24. For the same period, RIL reported an EBITDA of Rs 1,78,677 crore (USD 21.4 billion) and a net profit of Rs 79,020 crore (USD 9.5 billion). The company also recorded exports amounting to Rs 2,99,832 crore (USD 35.9 billion), which accounted for 8.2% of India’s total merchandise exports.

 

4. Cabinet approves the Digital Agriculture Mission with an outlay of Rs. 2817 Crore: The Union Cabinet Committee chaired by PM Narendra Modi approved the Digital Agriculture Mission with an outlay of Rs. 2817 Crore, including the central share of Rs. 1940 Crore. The Mission is conceived as an umbrella scheme to support digital agriculture initiatives, such as creating Digital Public Infrastructure, implementing the Digital General Crop Estimation Survey (DGCES), and taking up other IT initiatives by the Central Government, State Governments, and Academic and Research Institutions. For a similar transformation of the Agriculture Sector, the government announced the building of Digital Public Infrastructure for agriculture in the Union Budget 2023-24. Further, in the Budget 2024-25, the augmentation of the Digital Public Infrastructure (DPI) initiative for the agricultural sector has also been announced. The Digital Public Infrastructure (DPI) for Agriculture aims to provide comprehensive and useful data on farmers comprising authenticated demographic details, land holdings, and crops sown.

 

5. Krishnan Venkat Subramanian appoints as MD & CEO of Federal Bank: Federal Bank has approved the appointment of Krishnan Venkat Subramanian as Managing Director and CEO of the bank, effective September 23, 2024. The decision was made during the bank’s 93rd Annual General Meeting. Subramanian brings extensive experience to Federal Bank, having previously served as the Joint Managing Director of Kotak Mahindra Bank until April 30, 2024. Throughout his tenure at Kotak Mahindra Bank, he led several key divisions, including Corporate Banking, Commercial Banking, Private Banking, and the Asset Reconstruction business.

 

6. Nehal Vora appoints as MD and CEO of CDSL: Securities and Exchange Board of India (SEBI) has approved for the appointment of Nehal Vora as the MD & CEO of Central Depository Services (India) Limited (CDSL). Nehal Vora’s transition to this leadership role marks a significant development for CDSL, especially as the company continues to focus on fortifying its leadership in alignment with its long-term strategic goals. Previously serving as the Chief Regulatory Officer at the BSE, Vora is expected to bring valuable experience to CDSL, furthering its mission to enhance the depository services landscape in India.

 

7. 5 September – National Teachers’ Day: In India, Teachers’ Day is celebrated on September 5 to recognise the work done by educators including teachers, researchers and professors. This day is observed to honour Dr Sarvepalli Radhakrishnan, who was born on September 5, 1888. He was also posthumously awarded the Bharat Ratna in 1954, the country’s highest civilian honour. Theme 2024 – Empowering Educators for a Sustainable Future Teachers’ Day is celebrated on the birth anniversary of Dr Sarvepalli Radhakrishnan, the first Vice-President of India and the second President of the nation.

 

INTERNATIONAL UPDATES:

 

1. L’Oreal Paris names Alia Bhatt as new global brand ambassador: Leading French cosmetic maker L’Oreal Paris has roped in Bollywood actress Alia Bhatt as its new global brand ambassador. With this, Bhatt joins the brand’s diverse roster of L’Oreal brand ambassadors like Viola Davis, Jane Fonda, Eva Longoria, Kendall Jenner, Elle Fanning, Camila Cabello, and many others. She will star in the French beauty brand’s campaigns, starting in September 2024. Bhatt embodies the core values of L’Oreal Paris, representing inclusivity and empowerment, sharing the transformative power of self-belief with women all over the world.

 

OTHER UPDATES:

DEFENCE

 

1. IPS Officer Rajwinder Singh Bhatti takes Charge as DG of CISF: Indian Police Service (IPS) officer Rajwinder Singh Bhatti took over the charge as Director General (DG) of Central Industrial Security Force (CISF). Rajwinder Singh Bhatti has been appointed as the 31st DG for the CISF. Prior to his appointment as DG CISF, Bhatti was serving as the Director General of Bihar Police, where he was known for his strategic acumen and leadership in managing complex law and order challenges. An IPS officer from the batch of 1990 in Bihar Cadre, Bhatti is a Chartered Accountant with an M.Phil degree. Rajwinder Singh Bhatti was decorated with the President’s Police Medal for Meritorious Service in 2006 and the President’s Police Medal for Distinguished Service in 2014.

 

SPORTS 

 

1. NorthEast United FC wins its maiden Durand Cup beating Mohun Bagan: Guwahati-based NorthEast United Football Club won its first Durand Cup title, defeating the defending champion Mohun Bagan Super Giant (MBSG) 4-3 in a penalty shootout in the final. The final of the 133rd edition of Asia’s oldest football tournament was played at the Vivekananda Yuba Bharati Krirangan, Kolkata (West Bengal). The 133rd edition of the Durand Cup was held in Kolkata, Kokrajhar (Assam), Jamshedpur (Jharkhand), and Shillong (Meghalaya). Jamshedpur was hosting the matches of the Durand Cup for the first time. Mohun Bagan Super Giant football club, the most successful team in the history of the Durand Cup, having won it 17 times, failed to defend its title.

 

2. Bangladesh wins maiden SAFF U-20 Championship Football Tournament: Bangladesh won its maiden SAFF (South Asian Football Federation) Men’s U-20 Championship by defeating host Nepal 4-1 in the final. The final was played at the ANFA Complex in Lalitpur, Nepal. The Bangladeshi team, also famous as the Bengal Tigers, finally won the title in their fourth attempt at the finals. The Bangladeshi team appeared in the 2017,2019 and 2022 finals without any success. However, in this fourth attempt, they defeated the host country, Nepal, to win their maiden title. The Bangladeshi team defeated the favourite and defending champion, India, 4-3, in the penalty shootout in the semi-final to progress to the final.

 

3. Shot put thrower Sachin Khilari wins silver in Paris Paralympics: 2023 and 2024 world champion Sachin Khilari clinched silver in the Paris Paralympics. Khilari threw 16.32m in the men’s shot put F46 – finishing behind Canada’s Greg Stewart at Stade de France in Paris. Khilari’s throw was also the best effort an Asian has ever put in the men’s F46 event. There were a total of three Indians participating in the event. Mohd Yasser and Rohit Kumar were not able to get into the podium contention, finishing 8th and 9th respectively with best throws of 14.21m and 14.10m.

4. Harvinder Singh becomes first Indian archer to win Paralympic gold medal: At the Paris Paralympics 2024, Harvinder Singh created history by winning a Gold in the men’s archery individual recurve open final. He became the first and only Indian archer to clinch a gold medal at the Paralympics or Olympics. Harvinder defeated Poland’s Lukasz Ciszek 6-0 with a dominant performance in the final of the Men’s Individual Recurve Open to clinch India’s 4th gold medal at the Paris Paralympics 2024.

 

BANKING AND FINANCE

 

1. NPST launches Digital Payment Services at Global Fintech Fest 2024: NPST, a major digital banking and payments technology company unveiled a range of cutting-edge AI-enabled digital payment solutions at the Global Fintech Fest 2024. UPI rails are driving the exponential growth of India’s fintech sector. These solutions are intended to help banks and payment aggregators benefit from the current momentum by utilising cutting-edge technologies, such as artificial intelligence and machine learning.

 

2. Risk Intelligence Decision-Making Platform: The Risk Insight Decisioning Platform learns and analyses transaction patterns by combining insight from numerous data sources. By forecasting and mitigating new threats, the platform allows merchant acquirers to efficiently foresee and prevent fraud. EVOK 3.0 is an enhanced version of the EvoK platform that provides a complete payment solution for payment aggregators, payment gateway service providers, and retailers.

 

3. World Bank raises India growth forecast to 7% for current fiscal year from 6.6%: The World Bank revised its FY25 growth forecast for India to 7%, up from its previous estimate of 6.6%. The upgrade reflects the Indian’s government’s continued capital expenditure on infrastructure, a rise in household investments in real estate, better-than-expected monsoon and agricultural output, and an increase in private consumption, it said. According to its projections, India’s debt-to-GDP ratio is expected to decline from 83.9% in FY24 to 82% by FY27, while the current account deficit is anticipated to remain between 1% and 1.6% of GDP until FY27. Moody’s upgraded its economic growth forecast for India to 7.2% in 2024 and 6.6% in 2025, from earlier estimates of 6.8% and 6.4%, respectively, driven by broad-based growth.

 

 

Daily GK Update- 4th Sept, 2024

 NATIONAL UPDATES:

 

1. Supreme Court sets up panel to amicably resolve farmers’ agitation: The Supreme Court has constituted a high-powered committee chaired by former Punjab and Haryana High Court judge, Justice Nawab Singh, to amicably resolve the grievances of farmers agitating at the Shambhu border between Punjab and Haryana. A Bench of Justices Surya Kant and Ujjal Bhuyan directed the five-member committee to convene its first meeting within a week. The court urged the protesting farmers to distance themselves from political parties and to not politicise the issue. The farmers are agitating over a plethora of demands, including legal guarantee of minimum support price (MSP) for their produce.

 

2. Mastercard collaborates with Gramophone to Boost Credit Access for 2 mn Farmers in India: Mastercard has collaborated with Gramophone, a leading agritech platform, to enable 2 million smallholder farmers on the Mastercard Community Pass platform in India with access to agri inputs. The two entities will work towards powering offline payments for farmers in rural and remote areas through the Community Pass financial inclusion card. Gramophone is also expected to enable their existing five lakh farmers with offline payments and credit. Community Pass offers a digital ecosystem for purchasers seeking sustainable sources of high-quality produce at competitive market pricing and supply chain financing and smallholder farmers seeking reliable markets, fair prices, and credit.

 

3. Razorpay launches DigiPOS – Elevating Apple Resellers In- Store Payment Experience: Razorpay has launched the innovative Point-of-Sale (POS) software, ‘Razorpay DigiPOS’. This industry-first solution is set to revolutionize in-store payments across Apple Premium Reseller outlets in India by leveraging iOS devices such as iPhones and iPads. The integration of DigiPOS ensures a seamless, intuitive, and efficient payment experience, eliminating the need for traditional Android devices and enhancing the overall customer experience. For the first time, Apple Premium Reseller stores can now process payments using their iPads and iPhones, whether for card transactions, no-cost EMIs, or UPI payments. This collaboration with Apple Premium Reseller stores is poised to set a new benchmark in the retail payment landscape, making every transaction seamless.

 

4. Hitachi Payment launches Country’s First Android-Based Cash Recycling Machine: Hitachi Payment Services, India’s leading provider of payments and commerce solutions, announced India’s first Android-based cash recycling machine, which also serves as a Digital Banking Unit, providing one-stop services in a modern digital banking environment. The Android-Based Cash Recycling Machine, HPDx-BU01, is a big step towards improving customer convenience and experience while boosting operational and cost efficiency in banks. The Android-Based Cash Recycling Machine was presented at GFF with the National Payments Corporation of India (NPCI).

Its complete range of capabilities, which combine the benefits of traditional Cash Recycling Machines (CRMs) with the agility and flexibility of the Android platform, may be adapted to various financial needs.

 

5. Y Haragopal appointed MD of NABCONS: Y Haragopal has been appointed Managing Director of NABCONS (NABARD Consultancy Services), a wholly-owned subsidiary of the National Bank for Agriculture and Rural Development. Prior to this elevation, he worked as the Chief Operating Officer of the Delhi-based consultancy firm. It has four Zonal offices in Mumbai, Hyderabad, Jaipur, and Guwahati. Haragopal, who received his doctorate from the Indian Agriculture Research Institute (IARI) in New Delhi, joined NABARD in 1996 as a direct recruit officer and worked in different positions at the Head Office (Mumbai) for 14 years in the Refinance Department and at various regional offices in Punjab, Haryana, Andhra Pradesh, and Telangana.

 

6. 1st – 7th September – National Nutrition Week: National Nutrition Week is observed from 1st September to 7th September every year. Objective – To raise awareness about the importance of nutrition and promote healthy eating habits. Theme 2024 – Nutritious Diets for Everyone This initiative focuses on educating the public, particularly women and children, about the benefits of a balanced diet, good nutrition, and an active lifestyle to improve overall health. National Nutrition Week in India was first observed in 1982 by the Ministry of Women and Child Development.

 

INTERNATIONAL UPDATES:

 

1. Philips appoints Bharat Sesha as new MD for India: Bharath Sesha has been appointed as Managing Director for the Philips Indian subcontinent. In this role, he will spearhead Philips’ growth strategy in India, with a strong focus on enhancing customer satisfaction and driving operational excellence He succeeds Daniel Mazon, who has moved to a global role at the Philips headquarters in the Netherlands. Bharath Sesha brings over 20 years of global experience to his new role, with a deep understanding of the Indian market, particularly in the pharmaceutical and chemical sectors. Before joining Philips, he was the MD at Heubach Colorants India. Bharath holds a Master’s in International Management from Thunderbird School of Global Management and an MBA from ITM.

 

2. 2nd September – World Coconut Day: World Coconut Day is celebrated annually on September 2nd. Objective – To promote the importance of coconuts worldwide. This versatile fruit is crucial in agriculture, nutrition, and the economy in many tropical regions. World Coconut Day was established in 2009 by the Asian and Pacific Coconut Community (APCC), an intergovernmental organization under the United Nations Economic and Social Commission for Asia and the Pacific.

 

3. 3rd September – World Skyscraper Day: World Skyscraper Day is celebrated every year on September 3. It is a tribute to the breathtaking structures that have transformed the cities. These structures are testaments to human creativity, engineering prowess and an unwavering drive to reach for the skies. The World Skyscraper Day has its roots in the history of modern skyscrapers.

The date was decided to commemorate the birthday of Louis H. Sullivan, an American architect also known as the Father of Skyscrapers. His work includes stunning designs and layouts. He designed some of America’s most iconic structures, including the Wainwright Building, Union Trust Building and Prudential Building.

 

OTHER UPDATES:

DEFENCE

 

1. Air Marshal Ashutosh Dixit takes over as AOC-In-C Central Air Command: Air Marshal Ashutosh Dixit took charge as Air Officer Commanding-in-Chief of Central Air Command. Dixit was commissioned into the fighter stream of Indian Air Force (IAF) on December 6, 1986. The Air Officer is an Experimental Test Pilot and a Qualified Flying Instructor with more than 3300 hours of flying experience on a variety of aircraft in the IAF inventory. An alumnus of the prestigious National Defence Academy, Defence Services Staff College (Bangladesh), and National Defence College, Dixit has actively participated in numerous operations and exercises such as Op-Safed Sagar and Op-Rakshak. In recognition of his meritorious services, he has been awarded the Ati Vishisht Seva Medal, Vayu Sena Medal, and Vishisht Seva Medal, by the Hon’ble President of India.

 

2. Cabinet approves ₹26,000 cr deal with HAL for 240 aero-engines for SU-30 MKIs: PM Narendra Modi-headed Cabinet Committee on Security in its meeting approved a proposal for procurement of 240 aero-engines (AL-31FP) for Russian-origin SU-30 MKI fighter aircraft from defence PSU Hindustan Aeronautics Limited (HAL) at a cost of over ₹26,000 crore. Earlier, the MoD had given nod to HAL for major upgrade of SU-30 MKI fleet of aircrafts of the Indian Air Force (IAF) to increase their operational lives which is worth ₹60,000 crore. Through that, the aircraft will have new electronic warfare capabilities, weapon systems, radars and mission control systems. The comprehensive upgrades will add another two to three decades to the lives of aircraft whose body frame otherwise remains flying worthy for 50 years. The Ministry of Defence said the proposal for upgrade of SU-30 MKI has been given nod under Buy (Indian) category and the delivery of these aero-engines would start after one year and complete over a period of eight years.

 

SPORTS 

 

1. Badminton player Nithya Sre Sivan wins Bronze in Paris Paralympics: Para shuttler Nithya Sre Sivan has won the bronze medal at the Paris Paralympics in the Women’s Singles Badminton SH6 event. The ‘SH6’ event has been newly introduced and features short-statured athletes. The 19-year-old Nithya, who entered the tournament as a top seed, dominated her match against Indonesia’s Rina Marlina, winning 21-14, 21-6 in just 23 minutes.

BANKING AND FINANCE

 

1. ClearTax Joins hand with Microsoft to Ease Tax Filing for Over 20 Mn Indian Gig Workers: ClearTax, one of India’s largest tax systems, has partnered with Microsoft to simplify tax filing for over 20 million gig workers in India. This project attempts to improve workers’ accessibility and convenience, particularly in fast-rising economies. ClearTax is a user-friendly solution that allows gig workers to file their taxes over WhatsApp. This innovative, frictionless, and user-friendly technique tackles a major issue for many blue-collar and gig workers in India’s informal sector. This policy has had a significant and immediate impact. In just 5 weeks of its inception, approximately 98,000 gig workers could file their taxes using this new system.

 

2. FSIB recommends Rama Mohan Rao Amara for SBI MD post: The Financial Services Institutions Bureau (FSIB), a head-hunter for State-owned financial services entities, has recommended Rama Mohan Rao Amara for the position of Managing Director of State Bank of India, the country’s largest commercial bank. Amara is currently Deputy Managing Director at SBI. Amara is expected to fill the vacancy created due to elevation of C S Setty as Chairman of SBI. Prior to getting transferred to SBI in July 2023, Amara was MD & CEO at SBI Card, the country’s largest pure play credit card issuer. He was appointed as MD & CEO of SBI Card in January 2021.

 

AWARDS AND HONOURS

 

1. Japanese animator Hayao Miyazaki honoured with 2024 Ramon Magsaysay Award: Japanese animator Hayao Miyazaki has been honored with the prestigious Ramon Magsaysay Award for 2024 for his significant contributions to environmental protection and the promotion of peace through animation. This honor, often referred to as “Asia’s Nobel Prize,” underscores Miyazaki’s profound impact on both the art of animation and global cultural discourse. The announcement was made by Studio Ghibli, the renowned animation studio co-founded by Miyazaki. The global announcement of the 2024 Ramon Magsaysay Awardees was made by the Manila-based Ramon Magsaysay Award Foundation.

 

2. Olympic Order awarded to French President Emmanuel Macron: In recognition of his unstinting support for the success of the Olympic Games Paris 2024 and his attachment to the Olympic ideal dear to Pierre de Coubertin, President Emmanuel Macron was presented with the Olympic Order in gold. This distinction pays tribute to his untiring engagement and vision for the Olympic Games, which made the edition in Paris an unforgettable event. President Macron, in agreement with the Organising Committee and the French authorities, turned into spectacular reality, with a ceremony along the River Seine featuring iconic monuments like Notre-Dame, the Eiffel Tower and the Louvre.

 

Daily GK Update- 3rd Sept, 2024

 NATIONAL UPDATES:

 

1. Panel headed by V K Gupta to simplify decades-old direct tax laws: The revenue department in the finance ministry has formed a panel headed by V K Gupta, chief commissioner of income-tax (I-T), to simplify the decades-old I-T Act. In its preliminary discussions, the panel focused on rationalizing exemptions, raising the computation methods to global standards, and making the appeals system less cumbersome. During discussions over the past few days and supervised by Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal, it emerged that more than 90 Sections of the 1961 law have lost their relevance.

 

2. Seventh Rashtriya Poshan Maah launched with a focus on nutrition and well-being: The 7th Rashtriya Poshan Maah was inaugurated at the Mahatma Mandir in Gandhinagar, Gujarat, with a strong emphasis on enhancing nutrition awareness and overall well-being across the nation. Annpurna Devi, the Union Minister for Women and Child Development, emphasized the need to enhance the health of children and adolescents while combating malnutrition through a lifecycle approach. She outlined the four key pillars of Poshan 2.0 – good governance, convergence, capacity building, and community participation – as essential to the program’s success. The 7th Rashtriya Poshan Maah 2024 will focus on key themes including Anaemia, Growth Monitoring, Complementary Feeding, Poshan Bhi Padhai Bhi, Technology for Better Governance, and Ek Ped Maa Ke Naam.

 

3. Vistara’s last Flight on November 11: Vistara Airlines will cease to operate under its brand name on November 11. The airline’s operations will be fully integrated with Air India starting from November 12, marking the culmination of a merger process initiated nearly two years ago. Vistara is a joint venture between the Tata Group and Singapore Airlines. However, with Tata Group also owning Air India, the decision to unify the two airlines aims to streamline operations and offer passengers an enhanced travel experience. As a part of this merger, Singapore Airlines will acquire a 25.1 per cent stake in the newly consolidated Air India. The transition, approved by Centre, includes the green light for foreign direct investment (FDI) by Singapore Airlines in Air India.

 

4. Rajneesh Narang appoints as Interim CMD of HPCL: Rajneesh Narang has been appointed the interim Chairman and Managing Director of the Hindustan Petroleum Corporation Limited (HPCL) for three months. He succeeded Pushp Kumar Joshi. Narang, a chartered accountant with over thirty years of experience, has managed a wide range of finance-related responsibilities for the company, including corporate finance, treasury, risk management, margin management, marketing finance, SBU commercial, refinery projects, etc.

 

5. V Satish Kumar given additional charge of IOC chairman: V Satish Kumar took over as the Chairman of the Indian Oil Corporation (IOC), the nation’s largest oil firm. He will concurrently serve as chairman while continuing in his role as Director (Marketing), a position he has held since October 2021. He also held the additional charge of Director (Finance) for one year from October 2022, a period characterised by geopolitical tensions due to the Ukraine-Russia conflict. With a career spanning 35 years, Kumar has served in various regions across the country and held key positions, leading IOC’s efforts to maintain its leadership in the marketing of petroleum products.

 

INTERNATIONAL UPDATES:

 

1. India, Sri Lanka, Mauritius, Maldives sign Charter and MoU for establishment of Colombo Security Conclave Secretariat: India, Maldives, Mauritius and Sri Lanka have signed the Charter and an MoU for the establishment of the Colombo Security Conclave (CSC) Secretariat in Colombo to address security and stability challenges in the Indian Ocean Region. The signing ceremony was hosted in Colombo by the Government of Sri Lanka. National Security Advisor Ajit Doval and the representatives of the Maldives, Mauritius and Sri Lanka signed the documents on behalf of the respective Member States. National Security Advisor Ajit Doval emphasized the importance of the Colombo Security Conclave in addressing traditional, non-traditional, and emerging hybrid security challenges. He highlighted the need for sustained regional cooperation across various security pillars.

 

2. Saudi Arabia to host 19th Internet Governance Forum in December: Saudi Arabia will host the 19th Internet Governance Forum (IGF) from December 15-19, 2024, at the King Abdulaziz International Conference Center in Riyadh. The five-day event is expected to gather over 10,000 participants from 160 countries, including more than 1,000 international speakers. The forum aims to reach consensus among governments, private sector, and non-profit organizations on policies for stronger internet governance worldwide. IGF is a global multistakeholder platform. The event, organized by the UN since 2006, fosters discussions on public policy issues related to the internet, facilitates sharing information, exchanging experience, and working to come up with solutions.

OTHER UPDATES:

DEFENCE

 

1. Air Marshal Tejinder Singh appoints Deputy Chief of Air Staff: Air Marshal Tejinder Singh took over as Deputy Chief of the Air Staff of the Indian Air Force in New Delhi. Air Marshal Tejinder is an alumnus of the National Defence Academy and was commissioned in the fighter stream of the IAF on 13 June 1987. He is a Category ‘A’ Qualified Flying Instructor with over 4500 hours of flying, an alumnus of Defence Service Staff College and National Defence College. He has commanded a Fighter Squadron, a Radar Station, a premier Fighter Base and was Air Officer Commanding in Jammu and Kashmir. He was also awarded the Vayu Sena Medal in 2007 and Ati Vishisht Seva Medal in 2022.

 

SPORTS 

 

1. Barinder Sran announces retirement from international cricket: Barinder Sran, the left-arm fast bowler, has called it quits from international and domestic cricket with immediate effect at the age of 31. He made his debut under MS Dhoni’s captaincy in January 2016 and played six ODIs and two T20Is until June 2016 before losing his place in the Indian team. He could never don the blue jersey and eight years later, has decided to step away from the game. Sran picked seven wickets in ODIs and six in T20Is apart from collecting 137 wickets across formats at the domestic level. In the Indian Premier League (IPL), the 31-year-old played for four teams – Rajasthan Royals, Sunrisers Hyderabad, Punjab Kings and Mumbai Indians – featuring in 24 matches and picking 18 wickets.

 

2. Himanshi Tokas clinches silver medal at Asian Cadet Judo Championships: Himanshi Tokas won a silver medal at the Asian Cadet and Junior Judo Championships. The event took place in Mungyeong, South Korea. Himanshi competed in the women’s 63-kilogram weight category. She is 19 years old and part of the Khelo Bharat program. 12 members from India participated in the competition.

 

3. 15-year-old International Master Mayank Chakraborty wins his 2nd Grand Master Norm in Greece: 15-year-old Chess International Master Mayank Chakraborty from Assam has won his second Grand Master Norm in a GM Norm Tournament being conducted in Greece. IM Mayank requires one last norm and to touch the FIDE Rating Point 2500 once to be a Grand Master, in fact the first Grand Master from entire North East India. His present FIDE rating is 2431. He had become International Master this year in April only, and right now he is the player with the highest number of Grand Master Norms and highest rating from the entire North East India.

 

4. Preethi Pal makes history with Bronze and Nishad Kumar wins Silver at Paris Paralympics 2024: At Paris Paralympics 2024, Indian Para Athlete Preethi Pal secured yet another medal for India, clinching a bronze medal in the Women’s 200 meters – T35 Final. She won the medal with a personal best timing of 30.01 seconds. With this win, she became the first track and field Indian Woman Para Athlete to win two medals at the Paralympics. On the other hand, Indian athlete Nishad Kumar also won a silver medal with an effort of 2.04 meter in Men’s High Jump – T47 event.

 

5. Yogesh Kathuniya wins silver in men’s Discus throw F56 final: India’s Yogesh Kathuniya clinched his second consecutive Paralympic silver medal in men’s discus throw F-56 event with a season’s best effort 42.22m at the ongoing Games in Paris. The 27-year-old hurled the discus to the podium-clinching distance in his very first attempt to add to the silver he won in the Tokyo Paralympics three years ago. Brazil’s Claudiney Batista dos Santos registered a hat-trick of Paralympic gold medals, creating a new Games record with an effort of 46.86m in his fifth attempt. Greece’s Konstantinos Tzounis won the bronze with 41.32m.

 

BANKING AND FINANCE

 

1. IndiaFirst Life becomes 1st Indian life insurer to start ops in GIFT City: IndiaFirst Life has become the first Indian life insurer to commence operations in Gujarat International Finance Tec-City (GIFT City). The company inaugurated its IFSC Insurance Office (IIO) at the country’s international financial gateway. IndiaFirst Life’s IIO will have a dedicated team of specialists who will cater to the needs of GIFT City’s global audience. The company offers a specially designed ULIP product for global Indians — IndiaFirst Life Wealth Wise plan.