Daily GK Update- 12th Sept, 2024

 NATIONAL UPDATES:

 

1. IIL Partners with ICMR for India’s First Zika Vaccine: Indian Immunologicals Limited (IIL) has joined hands with the Indian Council of Medical Research (ICMR) to develop India’s first Zika virus vaccine. They have signed an agreement called a Memorandum of Agreement (MoA) to work together on this project. The main goal is to conduct phase I clinical trials, which will test the vaccine for its safety and effectiveness in humans.ICMR will pay for the phase I clinical trials. This includes covering all the costs for running the trials, monitoring the participants, and performing the necessary investigations to see how the vaccine works. These trials will be done in different locations in India to make sure the vaccine is thoroughly tested.

 

2. Ecological Degradation in Veli-Akkulam Lake: A recent study presented by researchers from the University of Kerala at the ECSA 60 conference in Hangzhou has uncovered a significant ecological decline in Veli-Akkulam Lake. Over the past 30 years, the lake’s ecosystem has been deeply affected by the invasion of non-native species, which has changed its trophic status (how nutrients move through the food chain) and disrupted the natural food web.

 

3. India’s Second Largest Butterfly Species Discovered in TamilNadu: The Southern Birdwing was once considered the largest butterfly in India, with a wingspan of 190mm. However, in 2020, it was surpassed by the Golden Birdwing, which has a wingspan of 194mm, according to a British researcher, Brigadier William Harry Evans. It prefers areas close to water, such as the rivers and streams in the Western Ghats. The males of this species are known for their bright yellow and black colors, while the females, though larger, have more muted tones. The butterfly primarily feeds on the nectar of flowers like Bougainvillea and is the state butterfly of Tamil Nadu. As an indicator of ecological health, its presence shows the importance of maintaining a balanced and diverse environment.

 

4. Union Minister Launches Rangeen Machhli App for Ornamental Fisheries: The government sees great potential in the ornamental fisheries sector. It is expected to create jobs and contribute to the economy. The app also encourages more people to take up the aquarium hobby, which is becoming more popular in India. The “Rangeen Machhli” app can be downloaded from the Google Play Store.

 

5. Ozone Pollution Hurts Tropical Forest Growth, Study Finds: A recent study published in Nature Geoscience has revealed that ozone pollution is harming the growth of tropical forests, causing them to lose nearly 300 million tonnes of carbon every year. This is a big concern because tropical forests play a key role in fighting climate change by absorbing carbon dioxide from the air. The study highlights the urgent need to tackle air pollution to protect these important ecosystems.

 

INTERNATIONAL UPDATES:

 

1. India-Oman Joint Military Exercise AL NAJAH: The India-Oman Joint Military Exercise, called AL NAJAH, began in 2015 and focuses on improving the ability of both armies to work together. It is held in the deserts of Oman and mainly involves infantry tactics and counter-terrorism operations. The exercise reflects India’s strategic relationship with Gulf countries, especially with Oman, which is India’s oldest ally in the region, dating back to 1950. This partnership also helps improve maritime security in the Arabian Sea by addressing regional threats. Through these exercises, India and Oman continue to strengthen their mutual respect and understanding.

 

2. International Conference on Green Hydrogen (ICGH-2024): Green hydrogen is made by splitting water using renewable energy like wind or solar, unlike grey hydrogen, which uses fossil fuels. It doesn’t produce carbon emissions and can be stored and transported easily. Producing it needs a lot of electricity—about 50-55 kWh per kilogram. Japan leads in green hydrogen projects, with Chile and Australia also becoming important. Green hydrogen can power vehicles and industries and help reduce emissions in steel and ammonia production.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO, Indian Navy Successfully Test VL-SRSAM Missile: The Defence Research & Development Organisation (DRDO) was founded in 1958. It is a key organization in developing indigenous missiles and advanced defense systems in India. DRDO has over 50 labs and research centers across the country and has played a major role in creating important missile systems like Agni and Prithvi. In addition to missile technology, DRDO works on systems like the Akash surface-to-air missile and the Tejas fighter aircraft. It also collaborates with international partners on joint development projects, promoting self-reliance in defense technology. Notably, DRDO contributed to the development of the K9 Vajra Howitzer, a powerful artillery system used by the Indian Army.

 

2. Vietnam, Philippines Strengthen Defense Ties: Vietnam and the Philippines have agreed to work more closely on defence and maritime security. This agreement came during a visit by Vietnam’s Defence Minister, Phan Van Giang, to the Philippines. This cooperation aims to address rising tensions with China, particularly over territorial disputes in the South China Sea.

 

SCIENCE AND TECHNOLOGY

 

1. Chandrayaan-3 Detects Historic 250 Seismic Signatures on Moon: India’s Chandrayaan-3 mission has achieved a significant milestone by becoming the first lunar mission to detect over 250 seismic signals from the Moon’s south pole since the Apollo missions. This discovery marks a major advancement in lunar exploration and seismic monitoring techniques. The Instrument for Lunar Seismic Activity (ILSA), which was part of the Vikram Lander, operated from August 24 to September 4, 2023. It recorded these seismic events from coordinates 69.37° S and 32.32° E. ILSA is notable for being the first instrument based on MEMS (Micro-Electro-Mechanical Systems) technology designed to measure seismic activity on the Moon, using advanced silicon micromachining techniques.

 

BANKING AND FINANCE

 

1. Union Cabinet Approves ₹2,000 Crore Mission Mausam Initiative: Mission Mausam is an Indian program that began in 2016 to study climate change and monsoon patterns. The initiative brings together multiple research organizations to improve weather forecasting accuracy and promote better farming practices. It also aims to develop systems to warn people about extreme weather events and raise public awareness about how climate change impacts agriculture and livelihoods.

 

2. SBI Foundation Launches 3rd Asha Scholarship Program For Students: The SBI Foundation has launched the 3rd edition of its Asha Scholarship Program, which aims to help 10,000 deserving students from underprivileged backgrounds across India. Applications for the scholarship opened on August 16, 2024, and will remain open until October 1, 2024. Interested students can find more details about eligibility and apply through the official website: www.sbifashascholarship.org.

 

Daily GK Update- 11th Sept, 2024

 NATIONAL UPDATES:

 

1. Amit Shah releases documentary on Mumbai Samachar’s 200-year journey: Union Home and Cooperation Minister Amit Shah released the documentary film Mumbai Samachar- 200 Not Out, which chronicles the remarkable 200-year journey of Asia’s oldest newspaper. Entering its 203rd year of publication, Mumbai Samachar has become an integral part of Mumbai’s identity. Mumbai Samachar- 200 Not Out delves into the newspaper’s pivotal role in the freedom movement, its unwavering commitment to unbiased reporting, and the secrets behind its enduring success.The documentary was released simultaneously in 40 countries, offering a historical perspective not only for Mumbai Samachar but also for the entire newspaper industry.

Hormusji N Cama, the managing director of the Mumbai Samachar, was present at the event. The trailer for Mumbai Samachar- 200 Not Out was launched by Prime Minister Narendra Modi at the newspaper’s bicentenary event in June 2022.

 

2. Rajasthan Cabinet approves 33% reservation for women in police force: Rajasthan Cabinet has approved 33% reservation for women in the police force by deciding to amend the State Police Subordinate Service Rules, 1989.The State Cabinet took the decision at its meeting held here, fulfilling a promise made by the BJP in its manifesto for the 2023 Assembly election to increase the representation of women.This will enable the police to work with more sensitivity in matters related to women, while this decision will also provide more employment opportunities to women.

 

3. Gujarat to host 4th RE-INVEST meet on September 16-18: Prime Minister Narendra Modi will inaugurate the 4th Global RE-INVEST Renewable Energy Investors Meet and Expo at Gandhinagar, on September 16.A three-day flagship event of the Union Ministry of New and Renewable Energy, at Mahatma Mandir will bring together key players in the renewable energy sector.The event will have a plenary session of all chief ministers on the first day and a similar session of all state energy ministers on the second day.Representatives from Germany, Australia, Norway, Denmark, among others will be in attendance. Sessions will be held on topics including Green Hydrogen, Innovative Models for round the clock renewable energy, making India a hub in Battery energy storage and mainstreaming offshore wind in India.

 

4. Vinay Goyal to be State Mission Director of NHM: Vinay Goyal has assumed office as the State Mission Director of the National Health Mission (NHM).He takes over from K. Jeevan Babu, who has moved to the Kerala Water Authority as Managing Director.A native of Haryana, Dr. Goyal, belongs to the 2016 IAS batch. He has formerly held the posts of CEO, of Thiruvananthapuram Smart City;Managing Director of Kerala Rapid Transit Corporation Ltd. (KRTCL); Director of Backward Classes Development department; Secretary, Kerala State Housing Board among others.

 

5. Rajesh Verma takes charge as Chairperson of Commission for Air Quality Management: Rajesh Verma, an officer of the 1987 batch of the Indian Administrative Service (IAS), Odisha Cadre, took charge as the new full-time Chairperson of the Commission for Air Quality Management in NCR and Adjoining Areas (CAQM).He also served as the Secretary to the President of India, Smt. Draupadi Murmu before his superannuation on August 31, 2024.Rajesh Verma succeeds Dr. M.M. Kutty, who has completed his tenure as the full-time Chairperson of CAQM.

 

6. Amit Shah unanimously re-elected as the Chairperson of Parliamentary Committee on Official Language: Union Home Minister and Minister of Cooperation, Amit Shah has been unanimously re-elected as the Chairperson of the Parliamentary Committee on Official Language.

After the formation of the new government, a committee meeting was held in New Delhi to reconstitute the Parliamentary Committee on Official Language.Amit Shah has also served as the Chairperson of the committee from 2019 to 2024. The Parliamentary Committee on Official Language was constituted under the provisions of Section 4 of the Official Languages Act, 1963, in the year 1976.The committee comprises 30 members of Parliament, out of which 20 are from the Lok Sabha and 10 from the Rajya Sabha.

 

7. RS Sharma appoints as Chairperson of ONDC: A former chief of the Telecom Regulatory Authority of India (TRAI) and chief executive of National Health Authority (NHA), RS Sharma has been appointed as the Chairperson of the Open Network for Digital Commerce (ONDC).Sharma, an Indian Administrative Service (IAS), 1978 batch officer with a distinguished career across the Central and state governments, is credited with leading reforms and leveraging Information Technology (IT) to simplify administrative processes.

 

8. 11 September – National Forest Martyrs Day: National Forest Martyrs Day is celebrated every year on September 11 in India to pay tribute to those who died for the protection of the forest and wildlife of the country.The day honours protective environmentalists and personnel of the forest who have experienced certain risks in the process of conservation of natural resources.

Theme 2024 – Honoring the Guardians of Our ForestThe day goes back to the memory of the Khejarli Massacre, which took place in 1730 in the Marwar Kingdom. The then Maharaja Abhai Singh demanded Khejri trees from the Bishnoi village of Khejarli to be cut down to provide timber for his new palace.However, his action was resisted by the Bishnoi community, which has always been very sensitive towards the natural community.

 

INTERNATIONAL UPDATES:

 

1. India to organize First Global Cooperative Conference in November: India will organize the first Global Cooperative Conference in New Delhi from 25th to 30th November.This five-day conference will focus on exploring innovative solutions, technologies, and best practices for the cooperative movement.This will be the first time in the 130-year history of the International Cooperative Alliance that the conference will be held in India.

 

2. Algeria joins BRICS New Development Banks: Algeria has been approved as the newest member of the BRICS New Development Bank, joining other nations in seeking alternatives to international financial institutions like the World Bank and IMF.The decision was taken and announced by NDB chief Dilma Roussef at a meeting in Cape Town, South Africa. The bank of the BRICS group of nations — whose name derives from the initials of founding members Brazil, Russia, India, China and South Africa.Membership in the BRICS bank will offer Algeria — Africa’s leading exporter of natural gas — “new prospects to support and strengthen its economic growth in the medium and long term.Created in 2015, the NDB’s main mission is to mobilize resources for projects in emerging markets and developing countries.The NDB has expanded its membership to include Bangladesh and the United Arab Emirates in 2021, and Egypt in 2023.

 

3. 1st India GCC Joint Ministerial Meeting for Strategic Dialogue held in Riyadh: The first India -GCC (Gulf Cooperation Council) Joint Ministerial Meeting for Strategic Dialogue was held in Riyadh, the Saudi Arabian capital.This was the first Foreign Minister level meeting between India and the six-member GCC.The first India-GCC Joint Ministerial Meeting for Strategic Dialogue was co-chaired by Indian External Affairs Minister Dr S Jaishankar and Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Foreign Minister of Qatar. Qatar holds the Presidency of the GCC.

 

4. Subrata Mondal appointed as MD & CEO of IFFCO Tokio General Insurance: IFFCO Tokio General Insurance Company Limited (IFFCO Tokio) has appointed Subrata Mondal as its new Managing Director (MD) andChief Executive Officer (CEO).Mondal, who has been associated with the company since 2001, brings over 36 years of experience in the insurance industry to his new leadership role.IFFCO-Tokio General is a 51:49 joint venture between the Indian Farmers Fertilisers Co-operative (IFFCO) and Tokio Marine Group – one of the world’s largest insurance companies based in Japan.

 

5. 10 September – World Suicide Prevention Day: World Suicide Prevention Day is observed every year on 10 September.The day gives a reminder that suicide prevention is a public health priority and urgent action is required to make sure suicide mortality rates are reduced.Theme 2024 – ‘Changing the Narrative on Suicide – Start the ConversationThe World Suicide Prevention Day (WSPD) was established in 2003 by the International Association for Suicide Prevention in conjunction with the World Health Organization (WHO). The day gives a clear message that suicides are preventable.Suicide is a major public problem with far-reaching social, emotional and economic consequences. Suicide remains a critical global issue, affecting individuals and communities worldwide.

 

 

OTHER UPDATES:

 

SPORTS 

 

1. Syria wins the 4th Intercontinental Cup Men’s Football Tournament: Syria defeated India 3-0 in the last round-robin match to win the 4th Intercontinental Cup men’s football championship. India, the defending champions, could not score a single goal in the match.Mahmoud Al-Mawas, Syrian captain, received the winners’ trophy and was named the Syed Abdul Rahim Player of the Tournament.The All India Football Federation organised the 4th Intercontinental Cup football championship at the GMC Balayogi Gachibowli Stadium in Hyderabad, Telangana.

 

BANKING AND FINANCE

 

1. Blostem Partners with Suryoday SFB to Revamp Digital Fixed Deposits: Blostem, a financial infrastructure platform, has partnered with Suryoday Small Finance Bank (SSFB) to transform the client experience.This agreement allows SSFB to benefit from Blostem’s expertise in quick product development and deployment, deliver novel digital fixed deposit products, and reduce customer onboarding to a single day.This relationship demonstrates SSFB’s commitment to digital innovation and growth.The agreement would also assist the Bank in expanding its reach through digital media. With a customer-centric approach to digital banking, the Bank strives to simplify the overall banking experience for its clients.The bank is also noted for providing attractive fixed deposit (FD) offerings among its peers, with interest rates of up to 9.10%, various tenure options, and hassle-free withdrawals.

 

2. Union Bank of India becomes first major Indian Bank to sign PCAF: Union Bank of India announced its decision to become a signatory to the Partnership for Carbon Accounting Financials (PCAF).This step aligns with the growing global emphasis on climate risk management and the recent draft guidelines issued by the Reserve Bank of India (RBI) on climate risk disclosures.PCAF is a global partnership of financial institutions working to develop and implement a harmonized approach to assess and disclose greenhouse gas emissions associated with loans and investments.By joining PCAF, Union Bank of India demonstrates its commitment to measuring and managing its financed emissions, a crucial aspect of climate risk management for banks.Financed emissions, referred to as Scope 3 emissions, represent the indirect emissions that result from a Bank’s lending and investment activities. These emissions can significantly outweigh a Bank’s operational emissions and pose substantial risks to its portfolio in the face of climate change and evolving regulations.

 

 

Daily GK Update- 10th Sept, 2024

 NATIONAL UPDATES:

 

1. Odisha’s second AIIMS will come up in Sambalpur: Odisha Chief Minister Mohan Charan Majhi has announced that the state’s second AIIMS will be built in Sambalpur. The state got its first All India Institute of Medical Science (AIIMS) in 2014 during the UPA regime.Meanwhile, Majhi also launched ‘CM-KISAN Yojana’ on the occasion of the Nuakhai festival at Odisha’s Sambalpur.The scheme aims to provide 925 crores financial assistance to 46 lakhs small and marginal farmers who are not covered under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) yojana.Eligible farmers will receive a total of Rs 4,000 in two phases. The first instalment of Rs 2,000 will be distributed on Nuakhai , which begins from September 8, and the remaining Rs 2,000 will be provided on Akshaya Tritiya.

 

2. DICGC introduces Daava Soochak for depositors to track claim status: The Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the Reserve Bank of India (RBI), has launched an online tool Daava Soochak for depositors to track their claim status.

The DICGC’s mandate since its inception has been the reimbursement of insured amounts to depositors of failed banks.Daava Soochak, a user-friendly online tool, is part of DICGC’s ongoing commitment to improving the services provided for depositors.Depositors can now track the status of their claims by entering their mobile number (registered with their bank) on the DICGC website.To begin with, depositors can view the status of their claims for banks placed under All Inclusive Directions (AID) post-April 01, 2024.

 

3. RBI imposes penalties on Housing and Urban Development Corporation, 2 others: The Reserve Bank has imposed penalties on three entities, including Housing and Urban Development Corporation Ltd, for non-compliance with certain provisions of directions on ‘non-banking financial company – housing finance company’.A penalty of Rs 3.5 lakh has been imposed on Housing and Urban Development Corporation Limited.RBI has also imposed a penalty of Rs 5 lakh on Godrej Housing.The Reserve Bank of India has also imposed a monetary penalty of Rs 5 lakh on Aadhar Housing Finance Ltd.In each case, the RBI added that penalties are based on deficiencies in regulatory compliance and are not intended to be pronounced upon the validity of any transaction or agreement entered into by the companies.

 

4. Tuhin Kanta Pandey appointed new Finance Secretary: Senior bureaucrat Tuhin Kanta Pandey has been appointed as the new Finance Secretary.Pandey, a 1987-batch Indian Administrative Service (IAS) officer of Odisha cadre, is currently the Department of Investment and Public Asset Management (DIPAM) secretary.The vacancy was created following the appointment of T V Somanathan as the Cabinet secretary last month.

 

5. Arun Goel appointed ambassador to Croatia: The Ministry of External Affairs (MEA) has appointed former Election Commissioner Arun Goel as India’s next ambassador to Republic of Croatia.The retired bureaucrat earlier served as the Election Commissioner of India.He was appointed as the Election Commissioner in November 2022. He resigned from the post in March 2024.Prior to his appointment as the Election Commissioner, he had taken voluntary retirement after serving as a 1985-batch IAS officer of the Punjab cadre.

 

INTERNATIONAL UPDATES:

 

1. Randhir Singh becomes first Indian to be elected OCA president: Former shooter and veteran sports administrator Raja Randhir Singh became the first Indian president of the Olympic Council of Asia (OCA).The appointment was made official at the 44th General Assembly held at the Bharat Mandapam, Pragati Maidan in New Delhi.The Olympic Council of Asia is the governing body for sports in Asia. It is recognised by the International Olympic Committee (IOC).A five-time Olympian, the 77-year-old Randhir Singh’s tenure will run from 2024 till 2028.Raja Randhir Singh, who hails from Patiala Punjab, was born into a family of sportspersons. His uncle, Maharaja Yadavindra Singh, played Test cricket for India and was an IOC member. His father, also a first-class cricketer, Bhalindra Singh, was also an IOC Member between 1947 and 1992.

 

2. Abdelmadjid Tebboune re-elected as Algerian President: 78-year-old incumbent President Abdelmadjid Tebboune of Algeria was re-elected with a landslide victory.According to Mohamed Charfi, head of the National Independent Authority for Elections, President Abdelmadjid Tebbounen secured 94.65 per cent of the valid votes.President Abdelmadjid Tebboune was elected for a second five-year term.President Abdelmadjid Tebboune was first elected as the President of Algeria in 2019, which was boycotted by the opposition.

 

3. 8 September – World Physical Therapy Day: World Physical Therapy Day is observed every year on 8 September.The day raises awareness amongst the public and other stakeholders about the role physiotherapists play in keeping people well, mobile, and independent.Theme 2024 – LBP (Low Back Pain) and the role of physiotherapy in its prevention and managementOn 8 September 1951, the World Confederation for Physical Therapy (WCPT) was founded by 11 national physiotherapy associations in London, United Kingdom. The name WCPT was later changed to World Physiotherapy in 2020.In 1996, the World Confederation for Physical Therapy decided to observe its foundation day, the 8th of September, as World Physical Therapy Day.

 

4. 9 September – International Literacy Day: International Literacy Day is observed every year on 9 September.The day is observed to remind the public, the government, and other stakeholders about the importance of literacy, its contribution to developing a person’s personality, and also its role in creating a just and equitable society.Theme 2024 – Promoting multilingual education: Literacy for mutual understanding and peace’.According to the United Nations Educational, Scientific and Cultural Organization (UNESCO), in 2022, around one out of seven adults above 15 years of age were illiterate, and around 25 crore children of the 6- 18 age group were out of school.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army & Indian Air Force Ink MoU with Gati Shakti Vishwavidyalaya: To enhance the skills and capability building of their personnel, the Indian Army and Indian Air Force signed an MoU with Gati Shakti Vishwavidyalaya, Vadodara in the presence of Raksha Mantri Rajnath Singh and Minister of Railways Ashwini Vaishnaw in New Delhi.The MoU will enable the two Services to acquire higher expertise in logistics. It will ensure the development of in-house expertise on various facets of logistics operations and contribute effectively towards the national development plans – PM Gati Shakti National Master Plan 2021 and National Logistics Policy 2022.Raksha Mantri described the collaboration as a monumental partnership towards further strengthening the logistics backbone of the Armed Forces in sync with the vision of ‘Aatmanirbharta’ in defence. He emphasized that logistics is no longer just a support function of the Armed Forces, but is emerging as an important factor in military operations and national security.

 

SPORTS 

 

1. Moeen Ali announces retirement from international cricket: Moeen Ali, the versatile England all-rounder, has officially announced his retirement from international cricket.Moeen made his international debut in 2014 against West Indies. He scored 6678 international runs and picked 366 wickets. He won the 2019 Cricket World Cup and 2022 T20 World Cup with the senior men’s side.

 

2. OCA includes Yogasana as demonstration sport in 2026 Asian Games: India’s ancient sport, Yogasana was included as a demonstration event at the 2026 Asian Games to be held in Aichi-Nagoya, Japan.Yogasana’s inclusion in the Asian Games calendar as a demonstration sport was unanimously passed at the 44th General Assembly of Olympic Council of Asia.

 

3. Jannik Sinner, Aryna Sabalenka wins 2024 US Open Singles title: Jannik Sinner of Italy has won the men’s singles titles of the 2024 US Open Grand Slam Tennis tournament.While, Aryna Sabalenka of Belarus won the women’s singles titles of the 2024 US Open Grand Slam Tennis tournament.It was the first US Open title for Jannik Sinner and Aryna Sabalenka. It was the second Grand Slam title for Jannik Sinner and the third Grand Slam title for Aryna Sabalenka.Jannik Sinner defeated Taylor Fritz of the USA 6-3, 6-4, 7-5. While, World no.2 ranked Aryna Sabalenka of Belarus defeated the American Jessica Pegula in the final of the US Open 7-5, 7-5.

 

BANKING AND FINANCE

 

1. SBI Foundation launches 3rd Edition of Asha Scholarship Program: The SBI Foundation has launched the 3rd edition of its Asha Scholarship Program, supporting 10,000 meritorious students from underprivileged backgrounds.Scholarships ranging from 15 thousand to 2 lakh rupees are available for students from Class 6 to postgraduate level.The program includes categories for those in IITs, IIMs, and a special ‘Study Abroad’ category for SC and ST students. Applications are open until October 1, 2024.Additionally, students belonging to the SC and ST categories intending to move outside the country for higher studies can avail the benefits of the ‘Study Abroad’ scheme.

 

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.