Daily GK Update- 21st Sept, 2024

 NATIONAL UPDATES:

 

1. PM Modi address 1st anniversary of the National PM Vishwakarma Scheme: Prime Minister Narendra Modi attended the National PM Vishwakarma Program held in Wardha, Maharashtra to celebrate the first anniversary of the PM Vishwakarma Scheme.PM Modi launched the Central Sector Scheme “PM Vishwakarma” on 17 September 2023 in New Delhi.The Prime Minister also distributed Vishwakarma certificates and loans to the scheme’s beneficiaries.PM Modi also launched the Maharashtra Government’s Acharya Chanakya Skill Development Scheme and the Punyashlok Ahilyadevi Holkar Women Startup Scheme on this occasion.Modi also laid the foundation stone of PM Mega Integrated Textile Regions and Apparel (PM MITRA) Park at Amravati, Maharashtra.

 

2. JP Nadda Inaugurates the 2nd Global Food Regulators Summit 2024: Union Minister of Health and Family Welfare, Jagat Prakash Nadda has inaugurated the second edition of the Global Food Regulators Summit 2024 in New Delhi.The summit brings together countries’ food regulators to exchange information on aspects of food regulation and safety requirements. It also provides an opportunity to promote cooperation between the food regulators of various countries.The Summit has organized by the Food Safety and Standards Authority of India (FSSAI) under the aegis of the Ministry of Health and Family Welfare, alongside the World Food India 2024 event organised by the Ministry of Food Processing Industries.

 

3. RBI approves re-appointment of V Vaidyanathan as IDFC First Bank MD & CEO: The Reserve Bank of India (RBI) has approved the re-appointment of V Vaidyanathan as MD and CEO of IDFC First Bank for a period of three years effective from December 19, 2024, to December 18, 2027.

The bank’s board had initially approved the re-appointment on April 27, 2024, before Vaidyanathan’s current term expires in December 2024.Previously, he worked with Citibank from 1990 to 2000 and joined ICICI Bank in 2000, where he set up its Retail Banking division. He also served as the MD and CEO of ICICI Prudential Life Insurance in 2009.Vaidyanathan took over as MD and CEO of IDFC First Bank in December 2018, following the merger of IDFC Bank and Capital First.

 

4. Muthuswamy Iyer appointed as Chief Compliance Officer of CIFDAQ: CIFDAQ, a leading blockchain ecosystem firm has appointed Muthuswamy Iyer as Chief Compliance Officer (CCO).

Muthuswamy brings extensive experience in regulatory compliance and adherence to PMLA guidelines to his new position at CIFDAQ, having worked primarily in the securities market and Web3/blockchain sectors for over 25 years, including pivotal roles at WazirX, Edelweiss Broking Ltd, Karvy Stock Broking Ltd, Angel Broking Ltd, and National Stock Exchange of India Ltd.Muthuswamy has extensive experience in regulatory compliance, surveillance, and liaising with regulatory bodies. He is well-known for his crisis management abilities and ability to achieve outcomes under duress.

 

5. Vincent Menachery Devassy appoints as Whole Time Director of TamilNad Mercantile Bank: Vincent Menachery Devassy has been appointed as the Whole Time Director (Executive Director) of TamilNad Mercantile Bank for a period of three years.The Reserve Bank of India (RBI) approved this appointment under Section 35B of the Banking Regulation Act, 1949.Devassy began his career in State Bank of India and has over 39 years of experience in commercial banking. He has deep knowledge in retail banking, wealth management, and banking technology among others.

 

INTERNATIONAL UPDATES:

 

1. India extends USD 50 million budgetary support to Maldives for another year: India has extended budgetary support to the Maldives government in the form of a rollover of the USD 50 million Treasury Bill for another year on the Maldivian government’s request.At the request of the Maldivian government, the State Bank of India (SBI) has subscribed the USD 50 million government Treasury Bills (T-bills) issued by the Ministry of Finance of the Maldives for a period of one more year upon the maturity of the previous subscription.This is the second rollover granted by the Indian government this year, following the first rollover of a USD 50 million Treasury Bill in May.Earlier in May 2024, SBI had similarly subscribed a USD 50 mn T-bills under same mechanism, again on the request of the Government of Maldives. These subscriptions have been made at the special request of the Government of Maldives as emergency financial assistance.

 

2. Jordan became the first country to eliminate Leprosy: In a historic achievement, Jordan has become the first country to eliminate leprosy, receiving official verification from the World Health Organisation (WHO).This milestone reflects the country’s commitment to eradicating a disease that has plagued humanity for centuries and signifies a major breakthrough in global public health efforts.Jordan’s journey to this remarkable achievement began many years ago with targeted public health campaigns, early detection programs, and free, accessible treatments for all citizens.

 

3. 20 September – World Cleanup Day: World Cleanup Day is observed every year on 20 September.Objective – To observe World Cleanup Day through activities aimed at raising awareness of the role clean-up efforts play in sustainable development.The theme of the inaugural event, taking place on 20 September in the city of Tromsø, Norway, is “Arctic Cities and Marine Litter”.The event, convened with support from UN-Habitat, GRID-Arendal, and the Norwegian Retailers’ Environment Fund, and in collaboration with the Ministry of Local Government and Regional Development, the municipality of Tromsø.On 8 December 2023, the United Nations General Assembly, in its seventy-eighth session, unanimously adopted resolution 78/122 “World Cleanup Day”, which proclaims 20 September as World Cleanup Day.

 

4. 21 September – International Day of Peace: International Day of Peace is observed every year on 21 September.The Day is observed by humanity to promote a culture of peace, advocate a halt to hostilities and conflict around the world and resolve disputes and differences through dialogue and peace education.Theme 2024 – Cultivating a Culture of PeaceEstablished in 1981 by a unanimous United Nations resolution, Peace Day provides a globally shared date for all humanity to commit to Peace above all differences and to contribute to building a Culture of Peace.This year marks the 25th anniversary of the United Nations General Assembly’s adoption of the Declaration and Programme of Action on a Culture of Peace.

 

OTHER UPDATES:

DEFENCE

 

1. Anurag Garg appointed as DG of Narcotics Control Bureau: Anurag Garg has been appointed as the new director general of the Narcotics Control Bureau (NCB).Garg is currently working as an Additional DG in the Border Security Force (BSF) at its headquarters here.Garg is the 1993 batch Indian Police Service officer from the Himachal Pradesh cadre.

 

SCIENCE AND TECHNOLOGY

 

2. TCOE-VTU-VRIF sign MoU to establish a Centre of Excellence in Quantum Technology and associated 5G/6G Technologies: In a significant move to bolster, India’s leadership in technological innovation, an MoU was signed between the Telecom Centre of Excellence (TCOE) India and Visvesvaraya Technological University (VTU) – Visvesvaraya Research & Innovation Foundation (VRIF).The landmark MoU is for establishing a Centre of Excellence (CoE) in Quantum Technology, associated 5G/6G Technologies etc, and other frontier areas of research and development.This CoE, headquartered at VTU-VRIF Bangalore, aims to accelerate India’s progress across these key sectors and is part of the 100-day programme.

 

BANKING AND FINANCE

 

1. Jana SFB introduces “Liquid Plus Fixed Deposit”: A Comprehensive Solution to Manage Short Term Liquidity Needs: Jana Small Finance Bank, one of India’s leading small finance banks, has launched a comprehensive solution “Liquid Plus” Fixed Deposit with attractive interest rate of 6.75% p.a. for tenures ranging from 7 to 180 days.The rate is applicable for the minimum deposit amount of INR 10 Lakhs for retail deposits up to INR 3 Crores and above INR 3 Crores to INR 200 Crores for bulk deposits per customer.The liquid plus fixed deposit makes short term deployment of funds extremely easy and attractive with higher returns. The Bank has taken this step based on the feedback from customers seeking placement of short-term funds.

 

2. SBI General Insurance joins hand with BLS E-Services to Streamline Access to Insurance Across India: BLS E-Services has tied up with SBI General Insurance to offer a range of insurance products directly to customers across India.This tie up is aimed at broadening access to key insurance offerings, such as ‘Hospicash’, vehicle insurance, personal accident insurance, and shop insurance, leveraging BLS’s extensive network.This collaboration represents a pivotal moment in our journey towards financial inclusion. By bringing insurance products, we are not just facilitating transactions – we are empowering individuals and businesses also to secure their futures with confidence.Chairman of BLS E-Services – Shikhar Aggarwal

 

3. YES Bank launched PaisaSave Cashback Credit Card: Paisabazaar, India’s leading online marketplace for consumer credit and free credit score platform, has partnered with Yes Bank to unveil their co-branded credit card – YES BANK Paisabazaar PaisaSave Credit Card.The PaisaSave Credit Card is designed to reward frequent shoppers by offering substantial cashback on everyday purchases, both online and offline, making it a must-have for the value-conscious customers.The PaisaSave Credit Card provides an easy way for customers to save as they spend, especially on online transactions where cashback is accelerated to 3%. Whether shopping on popular e-commerce sites or paying at physical stores, the card ensures consistent savings through its unlimited cashback feature.

 

 

Daily GK Update- 20th Sept, 2024

 NATIONAL UPDATES:

 

1. Cabinet approves continuation of schemes of Pradhan Mantri Annadata Aay SanraksHan Abhiyan (PM-AASHA): The Union Cabinet has approved the continuation of the Pradhan Mantri Annadata Aay Sanrakshan Abhiyan (PM-AASHA) scheme, allocating Rs 35,000 crore for the 15th Finance Commission Cycle up to 2025-26. This significant decision aims to ensure remunerative prices for farmers and manage price volatility of essential commodities for consumers.The PM-AASHA scheme consolidates the Price Support Scheme (PSS) and Price Stabilization Fund (PSF) into a unified program to enhance its effectiveness.The integrated scheme will now include the Price Support Scheme (PSS), Price Stabilization Fund (PSF), Price Deficit Payment Scheme (PDPS), and Market Intervention Scheme (MIS). These components are designed to provide better support for farmers and stabilize prices for consumers.Starting from the 2024-25 season, the procurement of notified pulses, oilseeds, and copra at Minimum Support Price (MSP) will cover 25% of national production.

 

2. Cabinet approves ‘Bio-RIDE’ scheme to support cutting edge research and development in Biotechnology: The Union Cabinet, chaired by the Prime Minister Narendra Modi approved continuation of the two umbrella schemes of Department of Biotechnology (DBT), merged as one scheme-‘Biotechnology Research Innovation and Entrepreneurship Development (Bio- RIDE)’ with a new component namely Biomanufacturing and Biofoundry.The proposed outlay for the implementation of the unified scheme ‘Bio-RIDE’ is Rs.9197 crore during the 15th Finance Commission period from 2021-22 to 2025-26.Bio-RIDE scheme is designed to foster innovation, promote bio-entrepreneurship, and strengthen India’s position as a global leader in biomanufacturing and biotechnology. It aims to accelerate research, enhance product development, and bridge the gap between academic research and industrial applications.

 

3. President Murmu attends Safai Mitra Sammelan in Ujjain: President Droupadi Murmu attended the Safai Mitra Sammelan in Ujjain, Madhya Pradesh.The Safai Mitra Sammelan was organised as part of the fortnightly Swachhata Hi Seva—2024 campaign launched by the government of India.This year’s campaign focuses on facilitating and honouring sanitation workers -Safai Mitra’s contribution to the Swacch Bharat Mission.The theme of this year’s Swachhata Hi Seva – 2024 campaign is ‘Swabhav Swachhata – Sanskaar Swachhata’.The Swachhata Hi Seva—2024 campaign will run from 17 September to 2 October 2024.

 

4. Airtel Payments Bank names Amar Kumar as Chief Compliance Officer:  Airtel Payments Bank has appointed Amar Kumar Kakarlapudi as its new Chief Compliance OfficerAmar will be responsible for enhancing the Bank’s compliance framework and ensuring that regulatory and statutory requirements are met seamlessly. As Chief Compliance Officer, Amar will be a vital partner for the Bank in achieving core and non-core compliance standards and a crucial interface between the bank and regulatory agencies, all while developing a solid compliance and regulatory framework.

INTERNATIONAL UPDATES:

 

1. India, European Union agree to deepen cooperation in Sustainable Water Management: India and the European Union agreed to enhance cooperation in sustainable water management and both sides committed to advance cooperation in river basin management, fostering innovation and technology transfer while promoting sustainable investments.The forum explored trilateral collaboration between East Africa, India, and the EU, to address challenges in East Africa’s water bodies such as Lake Victoria and Lake Tanganyika, leveraging the combined strength of India and the EU.At the 6th EU-India Water Forum held on the sidelines of the 8th India Water Week in New Delhi today, the India-EU Water Partnership (IEWP), established in 2016, aims to enhance technological, scientific, and policy frameworks.Under the IEWP, the EU and India are collaborating on river management in the Tapi and Ramganga River Basins. Under Phase III, the partnership will extend its efforts to other key basins like the Brahmaputra.

 

2. New Delhi hosts the 3rd World Food India 2024: The 3rd edition of World Food India 2024 is being held in New Delhi. The event is organised by the government of India to promote domestic and foreign investment in the country’s food processing sector and to highlight the country’s rich food culture to the world.Along with the 3rd World Food India 2024 the 2nd edition of the Global Food Regulators Summit hosted is also being held.The Food Safety and Standard Authority of India (FSSAI) also organised the Global Food Regulators Summit in New Delhi.New Delhi hosted the first World Food India in 2017 and the 2nd edition in 2023.

 

3. India becomes 6th largest market in MSCI ACWI: India has become the sixth largest market in the MSCI All Country World Investable Market Index (ACWI IMI), surpassing China and narrowly behind France.For the first time, India is the largest emerging market (EM) in the gauge that tracks the performance of global capital markets.At the end of August, India’s weight in the MSCI ACWI IMI stood at 2.35 percent, 11 basis points (bps) more than China’s, which is 2.24 percent. France has just 3 bps more weight than India.The MSCI ACWI IMI index encompasses stocks in the large—and mid-cap space. It is a spinoff of the more widely followed MSCI ACWI Index, which has only large—and mid-cap representation.

 

4. Infosys collaborates with UK’s Metro Bank to Digitize Operations: Indian IT giant Infosys has collaborated with Metro Bank, a UK-based community bank, to drive the digital transformation of its operations.The collaboration will utilise Infosys Topaz, the firm’s AI-first offerings, to enhance Metro Bank’s digital capabilities, improve automation, refine data, and embed further AI capabilities.The bank expects to deliver 80 million pounds of annualised cost savings this year across multiple initiatives, as it progresses towards the target of reaching mid-to-high teen return on tangible equity by 2027.

 

 

OTHER UPDATES:

SPORTS 

 

1. India’s Dhanush Loganathan wins Bronze in Men’s 55kg at IWF Junior World Championships 2024: In Weightlifting, India’s Dhanush Loganathan won the bronze medal in the men’s 55kg event at the IWF Junior World Weightlifting Championships 2024 in Leon, Spain.The 17-year-old Indian weightlifter lifted a total of 231kg (107 snatch+124kg clean and jerk) for bronze.Medals at the junior World Weightlifting Championships 2024 are awarded separately in snatch, clean and jerk and total categories.Dhanush also clinched a bronze medal in the snatch and finished 13th in the clean and jerk. Vietnam’s K Duong won the gold medal for lifting 253kg (115kg+140kg) and Japan’s Kotaro Tomari, clinched the silver medal for a total of 247kg (108kg+139kg).

 

2. Punjab lifts Hockey Junior Men’s National Championship trophy: Punjab defeated Uttar Pradesh to clinch the 14th Hockey India Junior Men’s National Championship 2024 at the Olympian Surjit Singh Hockey Stadium in Jalandhar.After a 3-3 finish, the match was decided in the shootout, with Punjab winning 4-3 to lift the trophy.Haryana defeated Karnataka 5-0 to secure third place on the podium.

 

BANKING AND FINANCE

 

1. Razorpay launches integration platform DataSync: Fintech giant Razorpay has launched DataSync, a no-code data integration platform that provides real-time data access, allowing businesses to enhance business intelligence, improve financial reporting, strengthen fraud and security monitoring, and uncover new revenue opportunities.DataSync will allow businesses to safely and conveniently integrate their financial and business data on Razorpay. This allows firms to use their data for deeper business insight, improved financial reporting, fraud and security monitoring, and generating new revenue ideas, transforming payment data into a profit centre.

According to ACI Worldwide’s most recent report, India will account for 49% of all real-time transactions globally in 2023.DataSync, India’s first no-code, seamless data integration platform, will enable organizations to make faster, data-driven choices by providing real-time information on transactions such as settlements, refunds, chargebacks, and reversals with robust security and low latency.

 

2. ICICI Bank partners with PFRDA to launch NPS Vatsalya, a pension account for minors: ICICI Bank has launched the NPS Vatsalya, a pension program targeted at protecting children’s financial future, at its service location in BKC, Mumbai, Maharashtra.The Union Budget 2024-2025 suggested a new pension program that will be overseen by the Pension Fund Regulatory and Development Authority (PFRDA).It permits parents/guardians to contribute to the minor until they reach adulthood. When the individual reaches the age of 18, they can turn it into a regular NPS account.ICICI Bank marked the start of the scheme by creating accounts for a few children under NPS Vatsalya. They were also given a symbolic Permanent Retirement Account Number (PRAN) card for their NPS Vatsalya account.

 

Daily GK Update- 19th Sept, 2024

 NATIONAL UPDATES:

 

1. Cabinet approves Nutrient Based Subsidy rates for Rabi Season 2024 on Phosphatic and Potassic (P&K) fertilizers: The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal of the Ministry of Chemicals & Fertilizers for fixing the Nutrient Based Subsidy (NBS) rates for RABI Season, 2024 (from 01.10.2024 to 31.03.2025) on Phosphatic and Potassic (P&K) fertilizers.The tentative budgetary requirement for Rabi season 2024 would be approximately Rs.24,475.53 crore.The subsidy on P&K fertilizers will be provided based on approved rates for Rabi 2024 (applicable from 01.10.2024 to 31.03.2025) to ensure smooth availability of these fertilizers to the farmers at affordable prices.The government is making available 28 grades of P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers.

 

2. Gati Shakti Vishwavidyalaya and Monash University Sign MoU to Enhance Railway Engineering Research and Education: Gati Shakti Vishwavidyalaya (GSV) signed an MoU with Monash University, Australia to facilitate collaboration in joint research, education, and executive training in railway engineering through the Monash Institute of Railway Technology (IRT).The establishment of a joint research lab focusing on advanced technological railway engineering will be explored together with opportunities for collaboration on future industrial projects that will return mutual benefits to both parties and advance Australian and Indian railway systems.Gati Shakti Vishwavidyalaya (GSV), Vadodara was established through an Act of Parliament in 2022, to create best in class manpower and talent for the entire transportation and logistics sectors.

 

3. PMBI and Coal India Limited sign MoU to provide high-quality generic medicines through establishment of Jan Aushadhi Kendras: In a significant milestone under the mission to provide quality generic medicines and surgical equipments at affordable prices to the masses, the Pharmaceuticals and Medical Devices Bureau of India (PMBI) and Coal India Limited have signed an MoU for the opening of Jan Aushadhi Kendras in the premises of every coal field, selected hospitals, or any suitable location specified or decided by Coal India Limited.The objective of this MoU is to provide high-quality generic medicines to the workforce and communities associated with Coal India, through the establishment of Jan Aushadhi Kendras across Coal India premises, these medicines will help workers, residents, and families save out of pocket expenditure, and will give employment opportunities to entrepreneurs in the project areas.

 

4. Center approves PMJUGA scheme for holistic Tribal Development: The Union Cabinet, in a meeting chaired by PM Narendra Modi has approved a new scheme, Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PMJUGA) to improve the socio-economic condition of the country’s tribal majority villages and aspirational districts.The scheme seeks to utilise the existing central government scheme to achieve the objectives of the Pradhan Mantri Janjatiya Unnat Gram Abhiyan (PMJUGA) scheme.Union Finance Minister Niramala Sitharaman proposed the scheme in her 2024-25 Union Budget speech.The duration of the PMJUGA scheme is five years. The total allocation for the scheme is Rs.79,156 crore, of which the central government’s share will be Rs.56,333 crore, and the State government’s share will be Rs. 22,823 crore.The PMJUGA scheme will be implemented in 549 districts and 2,740 blocks in all tribal majority villages and aspirational districts of 30 States / Union Territories.

 

5. Shriram Finance welcomes Cricket Legend Rahul Dravid as Brand Ambassador: Shriram Finance Ltd, announced the onboarding of Rahul Dravid, former captain and head coach of the Indian cricket team, as its brand ambassador.Rahul Dravid’s association with Shriram Finance represents a perfect blend of two entities that have consistently demonstrated trust, reliability, and excellence in their respective fields.

 

INTERNATIONAL UPDATES:

 

1. India-Denmark Maritime collaboration gathers momentum with focus on Green Shipping, Digitalization, and Sustainable Development: India and Denmark’s maritime relations continue to strengthen, with both nations working closely to advance sustainable maritime practices.Under the India-Denmark Green Strategic Partnership, the collaboration has expanded across key areas such as Quality shipping, Cooperation on Port State Control, Maritime training and education, research and development, Piracy, Green maritime technology, shipbuilding, and green shipping.Denmark, a global leader in sustainable maritime technologies, has been sharing its expertise in green and digital solutions, aligning with India’s goals under the Sagarmala initiative and the Maritime India Vision 2030.Both countries are focusing on decarbonisation efforts, with joint projects aimed at developing hydrogen and ammonia-based fuels for ships.India’s Maritime Amrit Kaal Vision 2047 aims to decarbonize its ports, and Denmark’s success in offshore wind energy is expected to further contribute to renewable energy solutions in Indian ports.

 

2. 18 September – International Equal Pay Day: International Equal Pay Day is celebrated every year on 18 September.This day highlights the effects of the pay gap on women of colour and other minorities.Theme 2024 – Need To Eliminate Wage DiscriminationInternational Equal Pay Day was first observed back in 1996 by the National Committee on Pay Equity. It was a coalition of women’s and civil rights organisations that worked toward eliminating gender and race-based wage discrimination.The goal was to achieve pay equity. It was not until 2019 that the Equal Pay International Coalition began officially marking it as a day to raise awareness. In 2020, the move was recognised by the United Nations and they observed the first International Equal Pay on September 18, 2020.

 

3. 19 September – International Talk Like a Pirate Day: International Talk Like a Pirate Day is observed every year on 19 September.The day aims to bring people together in the spirit of camaraderie and shared amusement as friends, family and even strangers engage in lighthearted conversations, jokes and activities that let them loose, have a good laugh and momentarily escape the stresses of everyday life.Talk Like a Pirate Day was born in 1995 when two friends from Oregon jokingly created the holiday while playing racquetball. They celebrated it quietly for a few years, sharing the joke with a small group of friends.One day in 2002, they wrote to humor columnist Dave Barry asking him to be the spokesperson for National Talk Like a Pirate Day. Amused by the idea, Barry agreed.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army signs MoU with Tiranga Mountain Rescue to enhance high-altitude operations: The Indian Army has entered an understanding with the Tiranga Mountain Rescue (TMR) at the Centre for Land Warfare Studies in the Delhi Cantonment.This understanding marks a pivotal step in advancing the Indian Army’s rescue and survival operations in mountainous terrains.The MoU stipulates that TMR will collaborate with the Indian Army in conducting customised training programs for Army instructors, aimed at improving their ability to mentor troops in avalanche rescue and survival skills.This MoU builds on the initial agreement made with Northern Command in 2016, which established dedicated avalanche and rescue support by the TMR.Subsequent agreements with Eastern and Central Commands in 2021 and 2024 further expanded this collaboration. The latest MoU will further utilise TMR’s expertise to boost the Indian Army’s capabilities in executing effective rescue operations under demanding conditions.

 

SPORTS 

 

1. Glasgow to host the 2026 Commonwealth Games: Glasgow, Scotland’s capital, has agreed to host the 2026 Commonwealth Games after the original host, Victoria of Australia, declined due to the rising cost.Glasgow has previously successfully hosted the 2012 Commonwealth Games.The first Commonwealth Games was held in 1930, and countries or territories that are members of the Commonwealth Games Federation, now known as Commonwealth Sport, participate in the Games.The last of six of the seventh edition of the Commonwealth Games has been held in Great Britain or Australia.Scotland, England and Wales constitute Great Britain.

 

SCIENCE AND TECHNOLOGY

 

1. Union Cabinet approves Chandrayaan -4 Mission to collect lunar sample: The Union cabinet chaired by the Prime Minister Narendra Modi has approved the mission to moon, named Chandrayaan-4 to develop and demonstrate the technologies to come back to Earth after successfully landing on the Moon and also collect moon samples and analyse them on Earth.This Chandrayaan-4 mission will achieve the foundational technologies capabilities eventually for an Indian landing on the moon (planned by year 2040) and return safely back to Earth.The Chandrayaan -4 mission will collect lunar samples from the moon’s surface and bring them back to Earth. Only three countries—the United States of America, Russia, and China—have successfully brought lunar soil back to Earth.ISRO has been allocated a budget of Rs 2104.06 crore for the Chandrayaan -4 mission to be completed in 36 months.

 

BANKING AND FINANCE

 

1. Banks, FIs to invest Rs 32.5 trillion in renewable energy by 2030: Centre: Leading renewable energy (RE) project developers, manufacturing companies, banks, and financial institutions committed close to $386 billion or around Rs 32.45 trillion to the development of RE projects by 2030.This commitment was made at the inaugural ceremony of the 4th RE-Invest Summit hosted by the Ministry of New and Renewable Energy (MNRE) and, Confederation of Indian Industry (CII).Public sector and private project developers have committed to building close to 570 gigawatts (Gw) of RE capacity. Reliance Industries (RIL) led the pack with a commitment of 100 Gw of capacity addition by 2030. It is followed by NTPC with 41.3 Gw and ReNew with 40 Gw of commitment.Additionally, ReNew will set up 6 Gw of ingot-wafer, solar cell, and module manufacturing.

 

2. Govt notifies NaBFID as a public financial institution under Companies Act: The government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act.This will help the government fortify the nation’s infrastructure finance structures.The Corporate Affairs Ministry said that in exercise of the powers,Section 2 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby notifies the National Bank for Financing Infrastructure and Development as a “public financial institution”.The move will enhance the bank’s capacity to finance large-scale infrastructure projects, thereby bolstering the country’s infrastructure development.NaBFID, a specialised Development Finance Institution (DFI), was set up in 2021, by an Act (The National Bank for Financing Infrastructure and Development Act, 2021).

 

Daily GK Update- 18th Sept, 2024

 NATIONAL UPDATES:

 

1. PM Modi inaugurates and lays the foundation stone for multiple development projects in Ahmedabad: The Prime Minister, Narendra Modi has inaugurated and laid the foundation stone for multiple development projects of railways, road, power, housing, and finance sectors worth more than Rs 8,000 crore in Ahmedabad, Gujarat. Modi inaugurated India’s first Namo Bharat Rapid Rail between Ahmedabad and Bhuj earlier. He also flagged off several Vande Bharat trains on routes – Nagpur to Secunderabad, Kolhapur to Pune, Agra Cantt to Banaras, Durg to Visakhapatnam, Pune to Hubballi, and the first 20-coach Vande Bharat train from Varanasi to Delhi.Further, he launched the Single Window IT System (SWITS) of the International Financial Services Centres Authority.The Prime Minister mentioned the announcement of a special PM package worth Rs 2 lakh crore which will benefit more than 4 crore youth. He stated that the government will also pay the first salary for the first job in companies if they hire the youth. He also mentioned increasing the limit of Mudra loans from Rs 10 lakh to Rs 20 lakh.

 

2. PM Modi launches ‘SUBHADRA’ – the largest women-centric scheme in Bhubaneswar: The Prime Minister, Narendra Modi launched ‘SUBHADRA’, the flagship Scheme of the Government of Odisha, in Bhubaneswar, Odisha.It is the largest, single women-centric scheme and is expected to cover more than 1 crore women. The prime minister also initiated the fund transfer into the bank accounts of more than 10 lakh women.Under the SUBHADRA scheme, all eligible beneficiaries between the age of 21-60 years would receive Rs. 50,000/- over 5 years between 2024-25 to 2028-29. An amount of Rs 10,000/- per annum in two equal installments will be credited directly to the beneficiary’s Aadhaar-enabled and DBT-enabled bank account.Modi also laid the foundation stone dedicated to the nation’s Railway Projects worth more than Rs 2800 crore and laid the foundation stone for National Highway Projects worth more than Rs 1000 crore.

 

3. Nirmala Sitharaman launches NPS Vatsalya for Minors: Union Finance Minister, Nirmala Sitharaman has launched the NPS Vatsalya scheme for minors in New Delhi.The event was attended by schoolchildren and was held simultaneously in 75 locations across the country. She also distributed the Permanent Retirement Account Number (PRAN) cards to new minor subscribers.Nirmala Sitharaman announced the NPS Vatsalya scheme in her 2024-25 union budget speech.The NPS Vatsalya will be regulated by the Pension Fund Regulatory and Development Authority (PFRDA).

 

4. Manu Bhaker appointed brand ambassador for MoPSW: India’s Ministry of Ports, Shipping and Waterways (MoPSW) has appointed Manu Bhaker, the double Olympic medal winner, as a brand ambassador.Bhaker, the shooting ace who won Medals in shooting in the recent Summer Olympics held at Paris, is the daughter of a Marine Engineer.Minister of Ports, Shipping and Waterways (MoPSW) – Sarbananda Sonowal

 

INTERNATIONAL UPDATES:

 

1. 16 September – International Day for Interventional Cardiology: The International Day for Interventional Cardiology is observed annually on September 16.This day is dedicated to raising awareness about the critical field of interventional cardiology and its pivotal role in treating heart diseases through minimally invasive procedures.As cardiovascular diseases continue to be the leading cause of death globally, the importance of this specialized field cannot be overstated.The first coronary angioplasty was performed by Dr. Andreas Grüntzig on 16 September 1977. Since then angioplasty has been the procedure that has saved the most grams of myocardium at risk worldwide.

 

2. 18 September – World Bamboo Day: World Bamboo Day is observed every year on 18 September.Objective – To increase the awareness of bamboo globally to promote cultivation and usages of bamboo as well as traditional uses locally for community and economic development.

Theme 2024 – Next Generation Bamboo: Solution, Innovation, and DesignThe World Bamboo Organization (WBO) proclaimed September 18 as World Bamboo Day in 2009, during the eighth World Bamboo Congress in Bangkok. It was decided upon with the unanimous consent of delegates from almost 100 nations.This celebration was initiated by Kamesh Salam, former President of WBO. Since then, this day is a world-wide event gathering hundreds of thousands of people to manifest the importance of bamboo as a plant companion for humanity.

 

OTHER UPDATES:

DEFENCE

 

1. Senior IPS officer Amrit Mohan Prasad appointed as Chief of SSB: Senior IPS officer Amrit Mohan Prasad has been appointed as the Director General of Sashastra Seema Bal (SSB).Prasad, a 1989-batch Indian Police Service (IPS) officer of Odisha cadre, is presently working as Special Director General, Central Reserve Police Force (CRPF).The Appointments Committee of the Cabinet has approved Prasad’s appointment to the post of Director General, SSB for a tenure up to the date of his superannuation on August 31, 2025.The vacancy necessitated after SSB chief Daljit Singh Chaudhary was appointed as the DG of Border Security Force (BSF) on August 28.The SSB guards the country’s frontiers with Nepal and Bhutan.

 

2. National Symposium ‘Exercise AIKYA’ on Disaster Management begin in Chennai: A two-day national symposium of the National Disaster Management Authority and the Army Southern Command entitled Exercise AIKYA begin inThe primary aim of the exercise is to enhance disaster preparedness and foster robust collaboration among key stakeholders.The exercise will feature simulations, technology discussions and expert insights into various roles of disaster management.Representatives from Railways, transport, civil aviation, health, environment and climate change departments State and National disaster management authorities and the Indian army will be present. IMD officials, National Remote sensing centres, the Central Water Commission and the Forest Survey of India will also participate in the symposium.

 

SPORTS 

 

1. Saleema Imtiaz becomes first Pakistan woman to be nominated as International Umpire: Saleema Imtiaz became the first Pakistani woman to be nominated to the ICC international panel of development umpires.Imtiaz’s nomination on the panel means she is now eligible to officiate in women’s bilateral international matches and ICC women’s events.Imtiaz joined the PCB’s women’s umpires panel in 2008 and has officiated in several Asian Cricket Council tournaments over the last three years.Imtiaz’s first on-field appointment in a bilateral series will see her officiate the three-match T20 series between Pakistan women and South Africa women which begins at Multan.

 

2. Santosh Kashyap appointed new head coach of Indian women’s football team: All India Football Federation (AIFF) has appointed Santosh Kashyap as the new head coach of the national senior women’s team, replacing former international player Chaoba Devi at the helm of affairs.Kashyap’s first assignment will be the SAFF Women’s Championships to be held in Kathmandu, Nepal, from October 17 to 30.A former India international, Kashyap has almost a decade of coaching experience in the I-League, managing clubs like Mohun Bagan, Aizawl FC and Mumbai FC among others.The 58-year-old has also been the assistant coach of NorthEast United FC, and most recently of Odisha FC, in the Indian Super League.Kashyap will have Priya PV as his assistant coach and Raghuvir Pravin Khanolkar as the goalkeeper coach.

 

3. India wins Men’s Asian Hockey Champions Trophy for record 5th time: The Indian men’s hockey team, led by Harmanpreet Singh, defeated host China 1-0 in the final to win the Men’s Asian Hockey Champions Trophy for a record fifth time.The final match of the 8th Men’s Asian Champions Trophy 2024 was played at the Moqi Hockey Training Base in Hulunbuir City.Defending champion India had earlier won the trophy in 2011,2016,2018 and 2023.In the final, Jugraj Singh scored the only winning goal of the match in the 51 minutes.India was the only team in the 8th Men’s Asian Hockey Champions Trophy to defeat all its opponents and remain unbeaten in the tournament.In the league stage, India defeated China 3-0, Japan 5-1, Malaysia 8-1, South Korea 3-1 and Pakistan 2-1.

 

BANKING AND FINANCE

 

1. WPI inflation drops to 4-month low of 1.31% in August: India’s wholesale price index (WPI)-based inflation fell to a four-month low of 1.31 per cent on an annual basis in August from 2.04 per cent in July due to a reduction in the prices of manufactured products and food items, according to data released by the Ministry of Commerce and Industry.Food prices inflation stood at 3.11 per cent in August as compared to 3.45 per cent in July.Within food articles, the prices of cereals (8.44 per cent), paddy (9.12 per cent), and pulses (18.57 per cent) decelerated. While there was a slight deceleration in the prices of onions (65.75 per cent), inflation remained in double digits.On the other hand, the prices of potatoes (77.96 per cent) and fruits (16.7 per cent) accelerated during the month.

 

2. Bank of Baroda introduces GenAI-powered virtual relationship manager for conversational banking: Bank of Baroda (BoB) has introduced ‘Aditi’, a GenAI-powered virtual relationship manager, to enhance the digital customer service experience.These human-like interface presented in the form of digital avatars, offer conversational banking across a range of services.

Available on the bank’s web portal, the capability supports audio, video and chat-based assistance ensuring 24×7 banking services with multilingual support. This service is being gradually rolled out to our existing customers through an enrollment process available on the bank’s website.In addition, BoB has also launched a GenAI-enabled knowledge management platform, ‘AI’ for its employees.

 

AWARDS AND HONOURS

 

1. Award winners of the 8th Men’s Asian Hockey Champions Trophy: Top scorer of the  

    tournament.

· Yang Jihun (South Korea; 9 goals)

· Promising goalkeeper of the tournament- Kim Jaehan (South Korea)

· Best goalkeeper of the tournament- Wang Caiyu (China)

· Rising star of the tournament- Shahid Hannan (Pakistan)

· Player of the tournament- Harmanpreet Singh (India)

· Man of the final match- Lin Changliang (China)

 

 

Daily GK Update- 17th Sept, 2024

 NATIONAL UPDATES:

 

1. Zanskar celebrates 9th Ladakh Zanskar Festival 2024: The 9th Ladakh Zanskar Festival 2024 began with remarkable grandeur in the picturesque village of Sani, signifying a landmark event for the region.The festival was inaugurated by the Lieutenant Governor Brigadier (Dr) BD Mishra.This year’s Zanskar Festival is especially significant as it marks the first celebration since Zanskar was officially declared a district. The two-day festival showcases a wide array of cultural performances, reflecting the diverse traditions of the region. Highlights include performances by the Purgi tribes from Kargil, the Shina community of Drass, the Dard-Aryans from Aryan Valley, and the Changpa nomads from Changthang.Cultural teams from Himachal Pradesh’s Lahaul & Spiti, Kinnaur, and Uttarakhand are participating, enriching the festival with their unique traditions.

 

2. President Murmu inaugurates 8th India Water Week: President Droupadi Murmu has inaugurated 8th India Water Week 2024.The 8th India Water Week 2024 will start from 17 Sep to 20 Sep in New Delhi.During the four-day event, around four thousand delegates including two hundred foreign delegates from 40 countries will participate. More than one hundred exhibitors and startups will showcase their ideas in the water sector during the exhibition.The event will serve as a global platform to elicit ideas and opinions from global-level decision-makers, researchers, experts, innovators and stakeholders in the field of water resources from across the worldTheme 2024 – Partnership and cooperation for inclusive water development and management.

 

3. PM Modi launches India’s first ‘Namo Bharat Rapid Rail’ connecting Ahmedabad and Bhuj: Prime Minister Narendra Modi has flagged off country’s first Vande Metro, now renamed as Namo Bharat Rapid Rail service, between Bhuj and Ahmedabad.The Ahmedabad-Bhuj Vande Metro service will stop at nine stations and cover the 360-kilometre distance in 5 hours and 45 minutes at a top speed of 110 kilometres per hour.Developed on the same platform as the Vande Bharat Express, the Vande Metro train is a self-propelled train set designed for short-distance inter-city travel. However, unlike Vande Bharat which is a semi-high speed 160 kmph train set, the Vande Metro trains will have a maximum speed limit of 130 kmph.

 

4. Arvind Kejriwal resigns as Chief Minister, Atishi stakes claim to top post: Aam Aadmi Party legislators in New Delhi have elected State Minister Atishi as the new Chief Minister-designate in place of Arvind Kejriwal.Atishi’s name was proposed by Kejriwal at the meeting of the legislature party, and it was unanimously accepted by the AAP MLAs.Ms Atishi now holds key portfolios in the Delhi government such as Education and Public Works Department.

 

5. 15 September – National Engineers Day: India celebrates National Engineer’s Day on September 15, commemorating the birth anniversary of engineer Mokshagundam Visvesvaraya, a pioneer in the field of engineering.The day is observed to honour his contributions to the development of India in the fields of engineering, education and economy.Theme 2024 – Innovating for a Sustainable FutureMokshagundam Visvesvaraya was awarded Bharata Ratna by the Government of India in 1955.

 

INTERNATIONAL UPDATES:

 

1. 4th edition of the Global Bio-India 2024 concludes in New Delhi: The fourth edition of Global Bio-India 2024 successfully concluded after showcasing India’s biotech prowess.The three-day event was themed on the potential and opportunities in ‘Biotech Innovation’ and ‘Bio-manufacturing’ and their impact on the bio economy.Theme 2024 – Biotech Innovation’ and ‘Bio-manufacturingIn Global Bio India, the country’s biotech startups unveiled 11 products that showcased the country’s emerging talent in biosciences.The 4th Global Bio-India 2024 was organized by the Department of Biotechnology under the Ministry of Science & Technology, Government of India, and the Biotechnology Industry Research Assistance Council (BIRAC).South Korea was the partner country at the 4th Global Bio-India 2024.

 

2. India to host high-level international meetings on anti-doping in sports: India is set to host the 2nd Formal Meeting of the COP9 Bureau and the 3rd Formal Meeting of the Fund Approval Committee under the UNESCO International Convention against Doping in Sport on in New Delhi.

As Vice-Chairperson of the COP9 Bureau, India has taken the lead in organizing these high-level gatherings, which will bring together key decision-makers and dignitaries from across the world.

Hosted by the Ministry of Youth Affairs & Sports, the meetings will see participation from distinguished delegates representing countries such as Azerbaijan, Barbados, Estonia, France, Italy, Russia, Saudi Arabia, Senegal, Singapore, The Netherlands, Türkiye, UAE, and Zambia.Senior officials from the UNESCO International Convention against Doping in Sport will also be present, contributing to the discussions in a hybrid format.

 

3. Iran launches new research satellite Chamran-1 into orbit: Iran successfully launched its Chamran-1 research satellite into orbit, utilising the Qaem-100 rocket developed by the paramilitary Revolutionary Guard.The launch marks a milestone in Iran’s aerospace program, which has faced scrutiny and criticism from Western nations due to concerns that the technology could be repurposed for ballistic missile development.The Chamran-1 satellite, weighing 60 kilograms, was placed into a 550-kilometer orbit and it is designed to test “hardware and software systems for orbital maneuver technology”.The Qaem-100 rocket, a solid-fuel, three-stage vehicle, was previously used in January for another successful satellite launch.

 

4. Jordan’s king appoints Jafar Hassan to serve as PM: Jordan’s King Abdullah II tapped a longtime aide to serve as the kingdom’s new prime minister.Hassan has a Ph.D. in political science from the University of Geneva and a master’s degree in public administration from Harvard University. He will replace the outgoing prime minister, Bisher Al-Khasawneh, whose Cabinet resigned on Sunday in the wake of a parliamentary election. Al-Khasawneh has served since October 2020.

 

5. 17 September – World Patient Safety Day: World Patient Safety Day is an annual observance on September 17th, established by the World Health Organisation (WHO).Objective – To raise global awareness about patient safety, promote actions to enhance safety in healthcare, and encourage stakeholders to unite for safer healthcare practices.Theme 2024 – Improving Diagnosis for Patient SafetyIn 2019, the 72nd World Health Assembly passed a resolution to establish World Patient Safety Day as a global health priority. The WHO began global campaigns each year, focusing on various themes within patient safety, such as safe childbirth, medication safety, and the empowerment of patients and caregivers.

 

OTHER UPDATES:

 

SPORTS 

 

1. 4th South Asian Junior Athletics Championship:  India at topped the medal tally: The 4th South Asian Junior Athletics Championships was held at the Jawaharlal Nehru Stadium, Chennai, Tamil Nadu.India led the Medal tally by winning 48 medals- 21 gold,22 silver and 5 bronze.The Sri Lanka team, which gave a tough fight to the Indians, came second with 35 medals—9 gold, 9 silver, and 17 bronze. Bangladesh came third with three bronze medals. Pakistan and Bhutan failed to win a single medal at the event.The first South Asian Junior Athletics Championships was held in Sri Lanka in November 2007. The second edition was held in Ranchi in November 2013, and the third was held in May 2018 in Colombo, Sri Lanka.All seven countries of the South Asian Athletics Federation (SAFF) -India, Pakistan, Sri Lanka, Maldives, Bangladesh, Bhutan, and Nepal—participated in the 4th South Asian Junior Athletics Championships.

 

SCIENCE AND TECHNOLOGY

 

1. India ranked among Tier 1 countries in Global Cyber Security Index 2024: India has ranked among Tier 1 countries in the Global Cybersecurity Index (GCI). It is issued by the International Telecommunication Union (ITU).‘GCI 2024’ has used a five-tier analysis this time. In this, the progress made in cyber security by various countries is tracked.This report places 46 countries in Tier 1, the highest category. These countries have been named “Role Modeling”, which have shown a strong commitment to all important aspects of cyber security.The Global Cyber Security Index 2024 reported that India has performed well in measures such as legal, technical, capacity expansion, and corporations.

 

 

 

 

BANKING AND FINANCE

 

1. UPI users can now send Rs 5 lakh for some transactions: The National Payments Corporation of India (NPCI) has increased transaction limits for tax payments using the Unified Payments Interface (UPI), allowing people to transfer Rs 5 lakh in a single transaction.While announcing its monetary policy statement on August 2024, RBI announced the enhancement of the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh, per transaction.Consumers can now make UPI payments of up to Rs 5 lakh per transaction for the following categories: a) tax payments, b) hospital and educational services, and c) IPOs and government securities.Two additional enhancements were previously introduced through circulars issued in December 2021 and December 2023.

 

2. Piramal Finance join hands with Digital India’s CSCs to Boost Credit Access for Bharat’s Budget Customers: Piramal Capital & Housing Finance Ltd. (Piramal Finance), a wholly-owned subsidiary of Piramal Enterprises Ltd., has collaborated with Digital India’s Common Service Centres (CSCs) to satisfy Bharat’s lending needs by expanding access to formal credit for underserved persons and MSMEs.This agreement successfully disbursed approximately Rs. 100 crore in August 2024 to increase credit availability in semi-urban areas, offering vital financial products such as house and business loans.Using CSC’s wide network of over 6 lakh centres, this project intends to assist budget clients in tier 2 and tier 3 cities, successfully addressing the financial requirements of underserved regions and expanding financial inclusion.Piramal Finance will increase its loan offers via CSCs, focussing on underserved areas to better serve individuals and MSMEs in tier 2 and tier 3 cities.

 

3. HDFC Bank’s Parivartan initiative aims to uplift rural communities with sustainable development programmes: The HDFC Bank is set to increase the income of 5 lakh marginal farmers earning less than ₹60,000 annually by 2025, scaling up further its over ₹5,000 crore investments in the corporate social responsibility (CSR) initiatives in the last decade.The bank’s focus on rural development reflects our continued commitment to fostering sustainable growth and uplifting vulnerable communities. Since its inception in 2014, Parivartan has grown into one of India’s largest CSR programmes, active in 28 States and 8 Union Territories.Though following 2013, corporates invested 2 per cent of net profit in the CSR initiative as it has become mandatory due to Section 135 of the Companies Act, Bharucha said his bank started the sustainable livelihood initiative (SLI) way back in 2008, giving affordable credit to people.

 

4. LIC selects Infosys for NextGen digital insurance platform project: The Life Insurance Corporation of India (LIC) has selected IT major Infosys to develop its NextGen digital platform.It will be an integrated end-to-end digital insurance solution providing “excellent services to customers, business lifecycle management and operational activities for sales intermediaries and digital front-end platform for branch employees”.The digital platform will be modular, flexible, cloud-native and have platform driven architecture capable of quickly adopting innovative technologies, new products and features.It will form the foundation for building high value business applications such as the customer and sales super apps, portals and digital branch for LIC.