Daily GK Update- 9th Sept, 2024

 NATIONAL UPDATES:

 

1. Shivraj Singh Chouhan launches AgriSure Fund for Agriculture Start ups: The Union Minister for Agriculture and Farmers Welfare and Minister for Rural Development, Shivraj Singh Chouhan, launched the AgriSURE fund in New Delhi. The Union Finance Minister Nirmala Sitharaman, in her 2022-23 Union Budget speech, announced the creation of a dedicated fund to finance startups for agriculture and rural enterprises. The AgriSure Fund or Agri Fund for Start-ups & Rural Enterprises is a Category -II Alternative Investment Fund (AIF) registered with the Securities Exchange Board of India (SEBI). The fund will be managed by NABARD. It will be under the regulation of the capital market regulator SEBI. The total corpus of the AgriSure Fund will be Rs 750 crore. The government of India, through the Ministry of Agriculture and Farmer Welfare, will contribute Rs 250 crore, NABARD will contribute Rs 250 crore, and banks, insurance companies, private investors, etc., will invest the rest of the amount.

 

2. PM Modi virtually launches Jal Sanchay Jan Bhagidari initiative: Prime Minister Narendra Modi virtually launched the Jal Sanchay Jan Bhagidari initiative in Surat, Gujarat in the presence of Union Minister of State for Jal Shakti CR Patil and Gujarat Chief Minister Bhupendra Patel. The Jan Sinchay and Jan Bhagidari Initiative is a joint scheme of the Union Ministry of Jal Shakti and the Gujarat government. The initiative aims to enhance the state’s water conservation efforts by constructing rainwater harvesting structures across the state and recharging the underground aquifers. The initiative aims to construct around 24,800 rainwater harvesting structures across the state. The initiative seeks to build upon the Union Ministry of Jal Shakti’s “Jal Shakti Abhiyan: Catch the Rain” scheme.

 

INTERNATIONAL UPDATES:

 

1. Telangana signs MoU for World Trade Centre at AI City : Telangana government has signed an MoU with the World Trade Centres’ Association for the establishment of a World Trade Centre in the proposed AI City near Hyderabad. The WTC at AI City will feature 1 million square feet of built-up space to house firms at the forefront of AI and emerging technologies. World-class office spaces, trade services, training facilities, retail and entertainment zones, co-living spaces, a luxury hotel and primary healthcare facilities will form part of the campus, in line with a vision to develop an integrated mini smart city embodying the walk-to-work concept. The event featured more than 2,500 delegates, over 20 renowned speakers from around the world and provided a forum for major announcements, including the AI City.

 

2. World’s 1st breeding centre for Asian King Vultures inaugurated in UP: Uttar Pradesh Chief Minister Yogi Adityanath has inaugurated the Jatayu Conservation and Breeding Centre in the Bharivaisi, Campierganj Range of the Gorakhpur Forest Division. It is the world’s first conservation and breeding centre for the Asian King Vulture or the red-headed vulture. The Uttar Pradesh Forest Department, in collaboration with the Bombay Natural History Society, has established the Jatayu Conservation and Breeding Centre in Maharajganj. The Jatayu Conservation and Breeding Centre spread over 1.5 hectares of land in the Gorakhpur Forest division, was built for Rs 2.8 crore. The centre has multiple bird cages, a nursery for juveniles, a hospital and recovery facility for birds needing medical help, and a food processing centre.

 

3. India emerges as second-largest global 5G smartphone market, overtakes US: According to a new report from Counterpoint Research, India has emerged as the world’s second-largest market for 5G smartphones, trailing only behind China. 5G smartphones are becoming increasingly prominent across various price ranges in India. India became the second-biggest 5G handset market during the first half, overtaking the US. The strong shipments from Xiaomi, Vivo, Samsung, and other brands in the budget segment were the main reasons for this trend. China maintains the leading position with a 32 per cent share of the global 5G smartphone market, while India holds 13 per cent.

 

4. 7th September – International Day of Clean Air for Blue Skies: The International Day of Clean Air for Blue Skies is commemorated annually on 7 September. Objective – To raise awareness and drive action on combating air pollution. By resolution 74/212 of 22 January 2020, the UN General Assembly (UNGA) designated the Day to emphasize the need to make further efforts to improve air quality, including reducing air pollution, to protect human health. According to the Health Effects Institute, there were 8.1 million deaths due to air pollution in 2021. Poor air quality is the biggest external threat to health, according to the Air Quality Life Index (AQLI).

 

 

OTHER UPDATES:

DEFENCE

 

1. INS Tabar participates in 22nd Indo French VARUNA naval exercise in Mediterranean: The Indian Navy’s frontline warship INS Tabar participated in the 22nd edition of India-France Bilateral Exercise VARUNA in the Mediterranean Sea. The Indian Navy was represented by the shipborne helicopter LRMR Aircraft P8I, whereas the French side was represented by FS Provence, Submarine Suffren, Aircraft F20, Atlantique 2, fighters MB339, and helicopters NH90, Dauphin. VARUNA highlights the commitment of Indian and French Navies towards enhancing interoperability through collaborative efforts. The bilateral exercise VARUNA began in 2001 to strengthen the India-France relationship and has evolved significantly over the years towards exchanging best practices.

 

SPORTS 

 

1. Nitika wins silver medal in women’s 62 kg freestyle category at U20 World Championships: In wrestling, Nitika won the silver medal in the women’s 62 kg freestyle category at the U20 World Championships in Pontevedra, Spain. She lost to Ukrainian wrestler Iryna Bondar 1-4 in the final. Last year, Nitika won a gold medal at the U20 Asian Championships. Neha clinched the bronze medal, beating Hungarian grappler Gerda Terek 10-8 in the women’s 57 kg freestyle division. She had won the yellow metal in the U17 World Championships last month.

 

2. Harvinder, Preeti named India’s flag-bearers for Paralympics closing ceremony: Gold medal-winning archer Harvinder Singh and sprinter Preeti Pal, who made history by becoming the first Indian woman to win two medals at the Paralympics, have been named India’s flag bearers for the closing ceremony of the Paris Paralympic Games. Harvinder, 33, etched his name in history as the first Indian archer to clinch a gold at the Paralympics, adding to the bronze he secured in Tokyo in 2021. Preeti, 23, achieved a milestone by securing bronze medals in the women’s T35 100m and 200m races, with personal best times of 14.21 and 30.01 seconds, respectively. Satya Prakash Sangwan, the chef de mission of the Indian contingent, highlighted the significance of their achievements and their impact on future generations.

 

3. Navdeep Singh wins gold medal at the Paris Paralympics: Navdeep Singh won a gold in the men’s javelin throw F41 class at Paris 2024 with a new Paralympic record of 47.32m to register India’s first-ever medal in the category. Navdeep’s medal-winning throw eclipsed the previous Paralympic record of 47.13m, set by Sun Pengxiang of the People’s Republic of China at Tokyo 2020. Although Sadegh Beit Sayah of the Islamic Republic of Iran pipped the Indian athlete with a throw of 47.64m in his penultimate attempt, he was later disqualified due to a breach of rules pertaining to unsporting or improper conduct.

 

4. India secures record 29 medals at Paris Paralympics 2024: The Indian contingent concluded its historic Paris Paralympics campaign with 29 medals, including seven gold, nine silver, and 13 bronze medals, marking the country’s best performance in the competition’s history. India also crossed the 50-medal mark in Paralympic Games history with this impressive performance. With this landmark achievement, India has surpassed its previously most successful campaign at the Tokyo 2020 Paralympics, where they secured 19 medals, including five golds, eight silver, and six bronze medals. A record 84 para-athletes represented the tricolour from August 28 to the conclusion of the event, competing across 12 disciplines, compared to just nine in Tokyo 2020. India also made its debut in three sports in Paris: paracycling, para rowing, and blind judo.

 

SCIENCE AND TECHNOLOGY

 

1. Ashwini Vaishnaw, Anil Kapoor among Times 100 most influential people in AI: Union Minister of Electronics and Information Technology, Ashwini Vaishnaw and actor Anil Kapoor are among Indians who have been honoured in Time magazine’s prestigious list of the 100 “Most Influential People in AI 2024”. The list highlights the most impactful figures in the field of artificial intelligence (AI). The list features a diverse group of global figures, from tech titans to researchers, policymakers, and artists. Some of the most prominent names include

 

2. India successfully carries out launch of Agni-4 ballistic missile at Chandipur: India has carried out a successful launch of an Intermediate Range Ballistic Missile, Agni-4, from the Integrated Test Range at Chandipur in Odisha. In April this year, India successfully tested the new-generation nuclear-capable Agni-Prime ballistic missile from the Abdul Kalam Island off the coast of Odisha. It met all the trial objectives, validating its reliable performance. The Agni missiles are long-range, nuclear weapons-capable surface-to-surface ballistic missiles developed by India.

 

BANKING AND FINANCE

 

1. Max Life enters into bancassurance partnership with CSB Bank: Max Life Insurance Company Ltd. (Max Life) has entered into a bancassurance partnership with CSB Bank (CSB), a private sector bank in India. The partnership plans to incorporate Max Life’s insurance products into CSB Bank’s channels, giving customers easy access to insurance alongside banking services. CSB Bank is one of Kerala’s oldest private banks, with 801 branches in the country. This collaboration uses the strengths of both Max Life and CSB Bank to boost insurance reach and market growth, aligning with their strategic goals.

 

2. Paysharp received final authorisation from RBI to act as a payment aggregator: Chennai based Fintech Paysharp has received final authorisation from the Reserve Bank Of India (RBI) to act as a payment aggregator (PA). Paysharp is an existing PA, which received RBI final authorisation on 30th August 2024 followed by the in-principal PA license on December 2022. Paysharp is a 5 years old startup, raised two rounds of funding sum of 23 crores, last funding round was on March 2023 with the valuation of 200 crores. Paysharp holds ISO 27001:2022 and SOC 2 accreditations.

With RBI’s final PA authorization, Paysharp is part of Indi’s Payment System, it helps Paysharp to extend to more merchants. Paysharp is one of authorised Payment Aggregator from Tamil Nadu. As on date RBI has authorized 36 payment aggregators including Razorpay, Cashfree and Stripe.

 

3. AU Small Finance inks pact with United India Insurance Co for distribution of insurance products: AU Small Finance Bank has partnered with state-owned United India Insurance Company (UIIC) to distribute general insurance solutions to the bank’s customers. It includes motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper insurance, cyber incident insurance, and more. This collaboration positions AU SFB as a preferred choice for its diverse customer base across 21 states and 4 union territories, offering reliable and affordable general insurance solutions. The partnership leverages UIIC’s vast network of branches in over 1,000 tier 2 and tier 3 locations, aligning with AU SFB’s expanding infrastructure and growing customer portfolio.

 

 

Daily GK Update- 8th Sept, 2024

 NATIONAL UPDATES:

 

1. 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.

 

2. Odisha Unveils India’s First Silicon Carbide Facility: RIR’s products already serve critical industries like defense, transportation, and energy. These products are sold worldwide, including in North America, Europe, and Asia. The new facility strengthens India’s aim to become more self-reliant in semiconductor production, which is a key priority for the country’s future technological development.This project is part of a broader trend, as Odisha is attracting more investments in the semiconductor sector. These new developments are expected to significantly boost the region’s industrial infrastructure and support sustainable energy initiatives, making Odisha a key player in India’s tech-driven future.

 

3. India’s First Bio-Hydrogen Project: The Indian government awarded a contract to develop the country’s first bio-hydrogen project, led by Gensol Engineering in collaboration with Matrix Gas & Renewables. Valued at Rs 164 crore, the project aims to align with the National Green Hydrogen Mission and is set to process 25 tonnes of bio-waste daily, producing 1 tonne of green hydrogen using advanced gasification technology over 18 months.

 

INTERNATIONAL UPDATES:

 

1. 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.

 

2. India Reviews Trade Agreement With Malaysia: India is reviewing its trade agreement with Malaysia because the trade deficit has significantly increased over time. A trade deficit means India is buying more goods from Malaysia than it is selling to them. In 2011, this deficit was $2.6 billion, but by the fiscal year 2024 (FY24), it has grown to an estimated $5.5 billion. This has raised concerns about the balance of trade between the two countries.

 

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.

 

2. India, EU Strengthen Defence Ties in Indo-Pacific Initiative: In September 2024, a group of high-level Indian officials visited Europe for three days to strengthen defence cooperation between India and the European Union (EU). Their main focus was on building better military partnerships and improving how they work together to handle security challenges. These challenges are across different areas like the sea (maritime), land, and cyberspace.

 

3. India Successfully Launches Agni-4 Ballistic Missile in Odisha: Agni-4 is an Intermediate Range Ballistic Missile (IRBM) developed by India. It is a key part of India’s strategy to strengthen its defense capabilities. The missile is designed to enhance India’s ability to respond to threats with precision and effectiveness. The successful launch of Agni-4 proves that the missile performs as expected. This success highlights India’s progress in missile technology and its capacity to carry out accurate and reliable strikes.

 

4. India Commissioned Advanced Nuclear Submarine INS Arighaat: India has recently commissioned its second nuclear-powered ballistic missile submarine (SSBN), named INS Arighaat. This is a major boost to India’s naval capabilities, coming after the first SSBN, INS Arihant, which was commissioned in 2016.India’s journey into building nuclear-powered submarines began with the INS Arihant, which was the first of its kind for the country. The introduction of INS Arighaat represents significant progress, demonstrating improvements in technology and local production skills.

 

SPORTS 

 

1. 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.

 

2. 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.

 

SCIENCE AND TECHNOLOGY

 

1. Saturn’s Rings to Disappear Temporarily in March 2025: In March 2025, Saturn’s rings will seem to “disappear” when viewed from Earth. This is an optical illusion caused by the way Saturn tilts and moves around the Sun. The planet’s tilt and orbit make its rings visible at different angles over time, and for a brief period, only the thin edge of the rings will be visible, making them look like they have vanished.

 

BANKING AND FINANCE

 

1. 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.

 

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

 

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- 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.