Daily GK Update- 10th Oct, 2024

 NATIONAL UPDATES:

 

1. Nitin Gadkari unveils ‘Humsafar Policy’ for Onboarding Service Providers: Union Minister of Road Transport & Highways Nitin Gadkari launched the ‘Humsafar Policy’ in New Delhi to enhance convenience of travelling on National Highways and accelerate development of the Wayside Amenities in presence of Shri Ajay Tamta, Minister of State for Road Transport and Highways.This scheme will help in facilitation of a smooth, safe, and pleasant journey for users. It will be environment friendly and has been prepared to keep the ecology and cleanliness in perspective.The policy aims to provide a comprehensive framework to ensure that commuters have access to standardized, well-maintained, and hygienic facilities by onboarding both existing and upcoming service providers along National Highways and Expressways. Existing and upcoming service providers under the categories of Eateries, Fuel Station and Trauma Centres will be eligible, to register under the Humsafar Policy.

 

2. PM Modi laid foundation stone for various development projects in Maharashtra worth over Rs 7600 crore: The Prime Minister, Narendra Modi laid the foundation stone for various development projects in Maharashtra worth over Rs 7600 crore via video conference.The projects include the foundation stone laying of the upgradation of Dr Babasaheb Ambedkar International Airport, Nagpur with a total estimated project cost of around Rs 7000 crore.The Prime Minister laid the foundation stone for the New Integrated Terminal Building at Shirdi Airport worth over Rs 645 crore. It will provide world-class facilities and amenities for the religious tourists coming to Shirdi. In line with his commitment to ensuring affordable and accessible healthcare for all, the Prime Minister launched the operationalization of 10 Government Medical Colleges, in Maharashtra located at Mumbai, Nashik, Jalna, Amravati, Gadchiroli, Buldhana, Washim, Bhandara, Hingoli and Ambernath (Thane). While enhancing the undergraduate and postgraduate seats, the colleges will also offer specialized tertiary healthcare to the people.

 

3. Development of National Maritime Heritage Complex, Lothal, Gujarat: The Cabinet has given the nod for the development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.The project, designed to celebrate India’s rich maritime history, will be executed in phases.The first phase, which is already under construction with over 60 per cent progress, is expected to be completed by 2025.The total development of the NMHC will include world-class facilities, including multiple galleries showcasing naval artifacts and a replica of the ancient Lothal township, a major Indus Valley port city.The NMHC aims to highlight India’s 4,500-year-old maritime heritage, drawing in tourists, researchers, and cultural organisations. The complex will be one of the world’s largest maritime museums, reinforcing India’s historical significance in naval trade and exploration.

 

4. India’s Prasanth Kumar re-elected as president of AAAI: GroupM Media India, the Indian arm of the US-based media investment group’s chief executive officer (CEO) – South Asia, Prasanth Kumar, has been re-elected as the president of the Advertising Agencies Association of India (AAAI) for the year 2024-25.The AAAI is a not-for-profit, industry-led and industry-managed trade association of advertising agencies, formed in 1945.Prasanth Kumar is a GroupM veteran with over two decades of experience in advertising, having worked in other organisations as well.He has previously worked at Pepsi, The Hindu, The Media Edge, and McCann Erickson before joining GroupM. He also served as vice-president of AAAI during 2020-22.

 

5. Ravindra Kundu takes charge as Cholamandalam MD: Ravindra Kumar Kundu has been appointed as the Managing Director of Cholamandalam Investment and Finance Company for a five-year term.Kundu’s journey at Cholamandalam began in 2000 when he joined as a Senior Executive in Marketing. Over the years, he progressed through various leadership roles, overseeing critical functions such as credit, collections, and business operations.With over 36 years of experience in the automobile and financial services sectors, Kundu has been a key figure in the company, serving as Executive Director since January 2020.

 

INTERNATIONAL UPDATES:

 

1. DAE inaugurates MACE, Asia’s Largest and World’s Highest Imaging Cherenkov Observatory, at Hanle Ladakh: The Major Atmospheric Cherenkov Experiment (MACE) Observatory was inaugurated by Dr. Ajit Kumar Mohanty, Secretary DAE & Chairman of the Atomic Energy Commission, at Hanle, LadakhMACE is the largest imaging Cherenkov telescope in Asia. Located at an altitude of ~4,300 m, it is also the highest of its kind in the world.The telescope is indigenously built by BARC with support from ECIL and other Indian industry partners.The inaugural of MACE Observatory was a part of the Platinum Jubilee year celebrations of the DAE.

The MACE Observatory is a monumental achievement for India, placing our nation globally at the forefront of cosmic-ray research. This telescope will allow us to study high-energy gamma rays, paving the way for deeper understanding of the universe’s most energetic events.

 

2. 10 October – World Mental Health Day: World Mental Health Day is observed every year on October 10.This day aims to increase understanding, dispel misconceptions, and encourage mental wellness support.Theme 2024 – Mental Health At WorkWorld Mental Health Day was founded in 1992 by the World Federation for Mental Health (WFMH), led by Deputy Secretary General Richard Hunter.This was first observed on October 10th when 12 countries participated. The goal of this day is to spread awareness, reduce stigma related to mental health and mobilise global suppors

OTHER UPDATES:

DEFENCE

 

1. Cabinet Approves National Maritime Heritage Complex and Border Roads: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved two major infrastructure projects that highlight the government’s focus on both heritage preservation and border area development.The first project is the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat, while the second focuses on improving road infrastructure in the border areas of Rajasthan and Punjab.

 

2. Road Infrastructure in Rajasthan and Punjab Border Areas: The Cabinet has sanctioned the construction of 2,280 kilometres of roads in the border areas of Rajasthan and Punjab, with an investment of Rs 4,406 crore. This project is part of a broader strategy to improve infrastructure in the nation’s border areas.The new roads will not only enhance road and telecom connectivity but also improve access to essential services like water supply, healthcare, and education.

 

3. Air Marshal SP Dharkar appointed as the next IAF Vice Chief: Air Marshal SP Dharkar, a distinguished fighter pilot, has been appointed as the next Vice Chief of Air Staff.He will succeed Air Marshal AP Singh, who is set to become the Chief of Air Staff.With more than 3,600 flying hours, Air Marshal Dharkar brings extensive experience to the position.He is an alumnus of the Rashtriya Indian Military College in Dehradun, the National Defence Academy in Pune, the Defence Services Staff College in Wellington, and the Air War College in the United States.

 

4. GRSE delivers second survey vessel INS Nirdeshak to Indian Navy: Defence PSU Garden Reach Shipbuilders and Engineers (GRSE) Ltd delivered survey vessel INS Nirdeshak to the Indian Navy.

INS Nirdeshak is the second in a series of four such vessels being constructed by GRSE, with the first delivered to the Navy 10 months ago in December 2023.These are the largest survey vessels for the Indian Navy to be built in the country.At 110 metres long, INS Nirdeshak will join INS Sandhayak, the first Survey Vessel Large (SVL) delivered by GRSE, to keep the country’s naval forces equipped with the latest survey data, which is essential for operations.The Sandhayak-class SVLs can undertake surveys of maritime limits and collect oceanographic and geographical data for defence applications, which adds muscle to India’s maritime capabilities.

 

BANKING AND FINANCE

 

1. IFC partners with Axis Bank to provide $500 million climate loan in India: The International Finance Corporation (IFC) has partnered with Axis Bank to provide a $500 million loan to help develop a blue finance market and scale up financing of green projects in India.This is IFC’s first blue investment in India and the first blue transaction by a financial institution in the country.Blue loans are financing instruments that raise and earmark funds for investments such as water and wastewater management, reduction of marine plastic pollution, restoration of marine ecosystems, sustainable shipping, eco-friendly tourism, and offshore renewable energy. This transaction is also the largest green financing by IFC in the country. The funding will enable Axis Bank to expand its climate finance portfolio.

 

2. BoB to sell Oman operation to Bank Dhofar as part of rationalization: State-owned Bank of Baroda (BoB) has proposed to sell its Oman operation to Bank Dhofar as part of rationalisation of foreign operation.The bank has accorded approval for accepting the offer for acquisition of the banking business of Bank’s Oman territory operations by Bank Dhofar on a going concern basis.The total business of BoB operation in the country was 113.35 million Omani Rial while the net worth stood at 25.54 million Omani Rial.

 

3. CCI approves acquisition of paid up share capital of JM Financial Credit Solutions Limited by JM Financial Limited: The Competition Commission of India (CCI) has granted approval for transactions including the acquisition of 42.99 per cent of the total paid-up share capital of JM Financial Credit Solutions Limited (JMFCSL) by JM Financial Limited (JMFL).And the acquisition of 71.79 per cent of the total paid-up share capital of JM Financial Asset Reconstruction Company Limited (JMFARC) by JMFCSL.According to CCI, this proposed combination involves simultaneous acquisitions aimed at strengthening JM Financial’s foothold in the financial sector.JM Financial Limited, as the operating and holding company of the JM Financial Group, plays a crucial role in providing integrated and diversified financial services.JM Financial Credit Solutions Limited, a subsidiary of JMFL, is classified as a systemically important non-deposit-taking Non-Banking Finance Company (NBFC).Registered with the Reserve Bank of India (RBI), JMFCSL is categorised as a middle-layer NBFC, primarily engaged in wholesale lending activities, with a focus on real estate and corporate financing.

 

4. Repo rate remains unchanged at 6.50% for tenth time in a row: The Reserve Bank of India decided to keep the policy repo rate unchanged at 6.50 per cent for the tenth time in a row.

Consequently, the standing deposit facility (SDF) rate remains at 6.25 percent and the marginal standing facility (MSF) rate and the Bank Rate at 6.75 per cent. The RBI has maintained status quo on benchmark interest rate since February 2023.The Monetary Policy Committee (MPC) also decided to change the monetary policy stance to ‘neutral’ and to remain unambiguously focused on a durable alignment of inflation with the target, while supporting growth.These decisions are in consonance with the objective of achieving the medium term target for consumer price index (CPI) inflation of 4 per cent within a band of plus or minus 2 per cent, while supporting growth.

 

AWARDS AND HONOURS

 

1. John Hopfield, Geoffrey Hinton awarded for Nobel Prize in Physics 2024: The Royal Swedish Academy of Science, Stockholm, Sweden, has chosen John J. Hopfield and Geoffrey E. Hinton for the Nobel Prize in Physics for the year 2024.American John Hopfield and British-Canadian Geoffrey Hinton were chosen for their pioneering work in the development of artificial intelligence (AI). They have been honoured for their discoveries and inventions that enable machine learning with artificial neural networks.Hopfield, a professor at Princeton University in the U.S., is credited with developing the Hopfield network, a type of recurrent neural network. Its neurons learn and process information based on Hebbian learning — an idea in neuropsychology that, if one neuron repeatedly triggers a second, the connection between the two becomes stronger.The rules of a Hopfield network are based on the physics of a group of atoms, each producing its small magnetic field. The processes the network performs to complete an incomplete pattern or to denoise an image are the same ones that, by analogy, would reduce the total energy of the magnetic atoms.

 

2. Indian/Indian origin scientists to win Physics Nobel Prize: The first Indian who won the Nobel Prize in Physics was Sir Chandrashekhara Venkata Raman (C.V. Raman) in 1930. In 1983, Indian -American Subhramanayam Chandrashekhar got the Nobel Prize for Physics.

 

 

Daily GK Update- 9th Oct, 2024

 NATIONAL UPDATES:

 

1. ADB grants $162 mn loan for new infra, tourism boost in Himachal Pradesh: The Asian Development Bank (ADB) has approved a loan of $162 million to support tourism development in Himachal Pradesh.The loan has been provided to finance the state government’s Sustainable and Inclusive Tourism Development Project.The state government’s Sustainable and Inclusive Tourism Development Project aims to revive the tourism economy in the five districts—Hamirpur, Kangra, Kullu, Mandi, and Shimla which were badly affected during the pandemic.The loan will finance the promotion of heritage and cultural sites in the Mandi and Hamirpur districts and the restoration of the historic Naggar Castle in Kullu. Upgrades to facilities along key travel routes in Kullu, Hamirpur, and Kangra are also part of the plan, focusing on incorporating environmentally friendly technologies such as solar-powered lighting and electric vehicles. These initiatives also aim to improve accessibility for the elderly, women, children, and people with disabilities.

 

2. Himachal Pradesh CM launches Sankalp Initiative to tackle drug menace: Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu has launched a drug eradication initiative ‘Sankalp’ that also aims to address drug trafficking and supporting rehabilitation efforts.The Sankalp initiative was announced by the chief minister, Sukhvinder Singh Sukhu, at an event organised by Divya Jyoti Jagriti Sansthan in the state capital, Shimla. The state government will set up a state-level model of de-addiction and rehabilitation center under the Sankalp initiative at Kotla Barog in the Pachhad subdivision of the Sirmaur district.The model center will assist drug addicts in de-addiction and help them reintegrate into mainstream society.

 

3. Health Minister JP Nadda announces enhanced nutrition support for TB patients: Union Health Minister JP Nadda has announced several key initiatives aimed at enhancing nutrition support for TB patients and their household contacts.The monthly nutrition support under Ni-kshay Poshan Yojana has been doubled from the existing 500 rupees to 1000 rupees for all TB patients during the period of treatment.The government has also decided to introduce energy-dense nutrition supplementation for all patients with BMI less than 18.5.The government also decided to permit expansion of scope and coverage of Ni-Kshay Mitra initiative under Pradhan Mantri TB Mukt Bharat Abhiyaan (PMTBMBA) including the family members of TB patients.All TB patients will now receive nutritional support of 3,000 rupees to 6,000 rupees under NiKshay Poshan Yojana (NPY). The enhancement of NPY support will benefit all 25 lakh TB patients annually and the introduction of Energy Dense Nutritional Supplementation (EDNS) would cover approximately 12 lakh underweight patients.

 

4. Retired IPS Sharad Kumar appointed new head of BCCI’s Anti-Corruption Unit: Retired IPS officer Sharad Kumar, who headed anti-terror organisation NIA for four years, has been appointed as the new chief of the BCCI’s Anti-Corruption Unit, bringing extensive experience to the role.Hailing from Bareilly in Uttar Pradesh, the appointment of 68-year-old Kumar was done on October 1 by the cricketing body.BCCI’s ACU head has been appointed for a three-year term.He is a 1979 batch IPS officer from the Haryana cadre and has had a distinguished career especially as the chief of the National Investigation Agency from 2013 to 2017.He will take over from KK Mishra, also a former Haryana cadre IPS officer, who was appointed last year but did not complete his term due to unspecified reasons.

 

5. Government extends tenure of RBI Deputy Governor for 1 year: The Central Government has extended the tenure of Mr M. Rajeshwar Rao as Deputy Governor, Reserve Bank of India with effect from the 9th of October. 2024.The extension is for one year or until further orders, whichever is earlier.This is the second one-year extension for Mr Rao, who was initially appointed as Deputy Governor in October 2020 for three years. Rao will continue to look after the Department of Regulation, Department of Communication, Enforcement Department, Legal Department and Risk Monitoring Department.

 

INTERNATIONAL UPDATES:

 

1. India to provide $400 Million Credit Swap Facility to Maldives: India has extended support of 400 million dollars and a bilateral currency swap of 3,000 crore rupees to the Maldives.The support will be instrumental in tackling the ongoing financial challenges faced by the Maldives.Besides, the currency swap agreement, the two countries signed two MoUs including bilateral cooperation on preventing and combating corruption. Two MoUs were also renewed between the two countries on Capacity Building Programs for Maldivian judicial officers and in the field of Sports and Youth Affairs.

 

2. JP Nadda elected as Chairperson of 77th Session of WHO Regional Committee: Union Health Minister JP Nadda was elected Chairperson of the 77th session of WHO’s Regional Committee for Southeast Asia.The committee shapes WHO’s health policies in the region.The member nations include Bangladesh, Bhutan, the Democratic People’s Republic of Korea, India, Indonesia, the Maldives, Myanmar, Nepal, Sri Lanka, Thailand, and Timor-Leste.The focus is on improving public health systems and addressing key epidemiological and demographic challenges.

 

3. Shigeru Ishiba appointed as the 102nd PM of Japan: Japan’s parliament elected Shigeru Ishiba, head of the governing Liberal Democratic Party, as the country’s new prime minister.Shigeru Ishiba as the 102nd Prime Minister of Japan.The 67-year-old Shigeru Ishiba replaces Fumio Kishida, who was also from the same political party – the Liberal Democratic Party (LDP)The LDP has ruled Japan almost continuously since its formation in 1955.Former Prime Minister Fumio Kishida resigned as the Prime Minister of Japan in September this year due to a series of political scandals.Shigeru Ishiba has appointed Takeshi Iwaya as the new Foreign Minister of Japan.

 

4. 7 October 2024 – World Habitat Day: World Habitat Day is celebrated every year on the first Monday of October. This year it was celebrated on 7 October. The day serves as a powerful reminder that everyone has the right to a decent and safe place to live.On this day, governments, communities and individuals are urged to work towards improving housing conditions, creating safe environments and making neighbourhoods safer.Theme 2024 – Engaging youth to build a better urban future World Habitat Day was first celebrated in 1985.

 

5. 9 October – World Post Day: World Post Day is celebrated annually on October 9 to highlights the significant role of the postal system in daily life, global communication, and economic development.This year marks the 150th anniversary of the Universal Postal Union (UPU), established in 1874 in Bern, Switzerland, which paved the way for modern international mail exchange.Theme 2024 – 150 years of enabling communication and empowering peoples across nations.

 

OTHER UPDATES:

 

SPORTS 

 

1. Olympian Dipa Karmakar retires from Gymnastic: Olympian and Commonwealth Games bronze medallist Dipa Karmakar has announced her retirement from Gymnastics. Dipa Karmakar, nicknamed ‘Small Wonder,’ was the first female Indian gymnast to establish India’s name at the international level in the sport. Dipa, who hails from Agartala, Tripura, holds the distinction of being the first Indian female gymnast to compete at the Olympics. Her only Summer Games appearance at Rio 2016 saw her narrowly miss a medal in the women’s vault event. She also has the distinction of being the first Indian woman to win a gymnastics medal at the Commonwealth Games. She won a bronze medal at the 2014 Glasgow Commonwealth Games. Dipa Karmakar is the first Indian to win a gold medal at an international gymnastics event. She won a gold medal in the women’s vault at the 2018 Artistic Gymnastics World Cup in Mersin, Turkiye.

 

BANKING AND FINANCE

 

1. Arka Fincap launches ‘Uday’ to boost MSME Growth with Small Ticket Loans: Arka Fincap Limited, a subsidiary of Kirloskar Oil Engines Limited (KOEL), has introduced a new product called ‘Uday’, offering Small Ticket Loans Against Property (STLAP). Targeted at micro, small, and  medium enterprise (MSME) owners, these loans will range from ₹10 lakh to ₹30 lakh. The company aims to address the growing credit demands of small businesses in Tier II, III, and IV cities, providing crucial financial backing for their growth and expansion.

 

2. ‘Uday’ will be initially rolled out in five important places in Tamil Nadu: Salem, Vellore, Tirupur, Porur, and Coimbatore.This launch marks the start of a larger, pan-India push deeper into Bharat. Arka Fincap Limited has ambitious ambitions to expand the product’s accessibility to MSMEs across the country, ensuring that small business owners in all regions may take advantage of this accessible and flexible lending solution.

3. Reliance Nippon Life Insurance unveils ‘Nishchit Pension’ to help Indians secure guaranteed long-term retirement income: Reliance Nippon Life Insurance Company Limited, a leading private life insurer, has unveiled a new deferred annuity plan, the Reliance Nippon Life Nishchit Pension, which is designed to provide a guaranteed lifelong income, allowing customers to streamline their retirement income and protect against any decline in long-term interest rates.

RNL Nischit Pension solves significant retirement-related concerns such as establishing lifetime income guarantees, ensuring income for the last surviving couple, and leaving a legacy for future generationsRNL Nishchit Pension provides a lifelong rate guarantee for self and family, which is critical for good retirement planning. Customers can choose their annuity start date by postponing psayouts, as well as the frequency of their income payouts (monthly, quarterly, semi-annually, or yearly) to meet their specific demands.

 

4. HDFC Bank Divests 100% Stake in HDFC Edu for ₹192 Crore: India’s largest private sector lender HDFC Bank has approved 100% stake sale of subsidiary HDFC Education to Vama Sundari Investments in an all-cash deal amounting to Rs 192 crore. The sale price is Rs. 9.60 per share.It would divest 91% stake in HDFC Edu on or before October 31, 2024, and the remaining 9% stake will be divested before June 30, 2025. With this sale HDFC Edu would cease to be a subsidiary of the bank.Vama Sundari Investments is a related party of HDFC Asset Management Company hence the sale of shares to Vama Sundari would be a related party transaction for the Bank.HDFC Edu is in the business of providing services related to schools, higher education, vocational education and training, and supplemental education. It was incorporated in 2011 and has a total income of Rs 18.18 crore at the end of March 2024 and total assets of Rs 197.05 crore.

 

AWARDS AND HONOURS

 

1. Victor Ambros & Gary Ruvkun win Nobel medicine for microRNA discovery: Scientists Victor Ambros and Gary Ruvkun have won the 2024 Nobel Prize in Physiology or Medicine for their discovery of microRNA and its role in gene regulation.The United States-based laureates discovered the new class of tiny RNA molecules, which play a crucial role in regulating gene activity.Ambros conducted the research that led to his prize at Harvard University. He is currently a professor of natural science at the University of Massachusetts Chan Medical School.Ruvkun’s research was performed at Massachusetts General Hospital and the Harvard Medical School, where he is a professor of genetics.The winners for medicine are selected by the Nobel Assembly of Sweden’s Karolinska Institute Medical University and receive a prize sum of 11 million Swedish crowns ($1.1m).

 

 

Daily GK Update- 8th Oct, 2024

 NATIONAL UPDATES:

 

1. PM Modi inaugurated GAIL’s first CBG Plant in Jharkhand: Prime Minister Narendra Modi has inaugurated GAIL’s first CBG Plant in Jharkhand, through a virtual ceremony. The plant is built in an area of 7.86 acres at Ranchi Jharkhand, Jhir Dumping Site Mouza Jhiri.This 12,500 m³ per day capacity plant is designed to process 150 tonnes of Municipal Solid Waste to produce 5,000 kg Bio-CNG and 25 tons of fermented bio manure per day.The biogas generated in this facility is to be supplied to nearby CNG stations which can fuel over 600 vehicles per day in the region, contributing to the Atmanirbhar Bharat initiative and promoting the use of clean and green fuel.

In March 2021, GAIL and Ranchi Municipal Corporation signed a Concession Agreement (CA) in the presence of Chief Minister of Jharkhand Hemant Soren to set up this plant.

 

2. BHP signed MoU with SAIL to accelerate potential pathways to steel decarbonisation: The Steel Authority of India Limited (SAIL) has signed an MoU with the leading global resources company, BHP to support steelmaking decarbonisation.This collaboration is an important step for SAIL and BHP in promoting lower carbon steelmaking technology pathways for the blast furnace route in India.Under this MoU, the parties are already exploring several workstreams supporting the potential decarbonisation at SAIL’s integrated steel plants which operate Blast Furnaces (BF), with an initial study to assess various strategies to reduce greenhouse gas emissions (GHG).Chairman of SAIL – Amarendu Prakash

 

3. Assam Launches Nijut Moina Scheme: The Assam government has started an important program called the ‘Nijut Moina’ scheme to fight against child marriage. This initiative aims to encourage girls to continue their education, especially since child marriage has been a serious problem in the state. Previous government efforts have shown positive results, with a significant 81% decrease in child marriage cases in 20 districts of Assam between the years 2021-22 and 2023-24. This new initiative is seen as an important step towards achieving long-term social change and improving the health outcomes for mothers and infants.

 

4. Low-AGE Diets Show Promise Against Diabetes in India: Recent research from the International Journal of Food Sciences and Nutrition has found a connection between diets high in advanced glycation end products (AGEs) and the rise of diabetes in India. India has the highest number of diabetes cases in the world, earning it the title of the “world’s diabetic capital.” AGEs are harmful compounds that form when sugars react with fats or proteins during cooking at high temperatures, such as frying or roasting. These compounds contribute to inflammation, which is a major factor in the development of diabetes.

 

 

 

 

INTERNATIONAL UPDATES:

 

1. Nepal, India, Bangladesh sign pact to facilitate cross-border electricity trade: India, Nepal, and Bangladesh have signed a trilateral agreement to export 40 megawatts of electricity from Nepal to Bangladesh via India’s power grid.As per the agreement, Bangladesh will now import 40 megawatts of electricity from Nepal. The Indian side has also been involved in the trade deal, as Nepal’s electricity will be transmitted to Bangladesh through the transmission infrastructure on the Indian territory.For now, Nepal will transmit the energy to India through the 400 KV Dhalkebar-Muzaffarpur cross-border transmission line before India transmits the equivalent to Bangladesh.The rate per unit of electricity has been fixed at 6.4 cents. From the export of electricity, Nepal will make an annual income of around $ 9.2 million.

 

2. Prakash Man Singh Raut appointed as new Chief Justice of Nepal: Nepal’s President Ramchandra Paudel appointed Prakash Man Singh Raut as the new Chief Justice of the country.

Paudel administered the oath of office and secrecy to Chief Justice Raut at a special ceremony organised at Sheetal Niwas, the President’s Office.His appointment comes after the retirement of outgoing Chief Justice Bishowambhar Prasad Shrestha, who reached the mandatory retirement age of 65.

 

3. 8 October – World Smile Day: The world celebrates World Smile Day 2024 every year on the first Friday of October month, and this year the festival will be celebrated on October 4, 2024.This is a special day to set a positive tone for both yourself and those around you.Theme 2024 – Do an act of kindnessThe World Smile Day spreads smiles, and fosters connections, positivity, and a wave of happiness. It inspires individuals, organisations, and communities to perform good deeds and celebrate the transformative power of a simple smile.

 

4. Sanjeev Kumar Singla Appointed India’s Ambassador to France: Sanjeev Kumar Singla has been appointed as India’s new Ambassador to France, taking over from his previous role as Ambassador to Israel. This change comes during a sensitive time due to the ongoing Israel-Palestine crisis. His new position reflects India’s careful diplomatic strategies in the Middle East during this critical period. While in Israel, Singla worked hard to keep India’s foreign policy balanced, even when there were crises. He helped address the needs of around 18,000 Indian professionals and students living in Israel. Additionally, he engaged with the 85,000 Jews of Indian origin who reside in Israel, strengthening ties between the communities.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO successfully test the 4th Gen VSHORADS Air defence system: Defence Research and Development Organisation (DRDO) has successfully conducted three flight tests of the 4th Generation Very Short Range Air Defence System (VSHORADS) at the Pokhran Field Firing Ranges in Rajasthan.The tests, conducted in the last two days were carried out against a high-speed target, demonstrating very critical parameters of maximum range and maximum altitude interception.The VSHORADS has been designed and developed indigenously by Research Centre Imarat (RCI), Hyderabad, in collaboration with other DRDO laboratories and private companies.

 

2. Visakhapatnam to host Malabar 2024 from October 8: India will host the joint naval exercise of QUAD nations from October 8 to 18 in Visakhapatnam.Hosted by India, this year’s exercise will see the participation of Australia, Japan, and the United States of America.The exercise, named Malabar 2024, includes sea and harbor phases focusing on cooperation in the Indo-Pacific region. It features various Indian naval platforms, such as guided missile destroyers, submarines, and fighter aircraft.The Malabar exercise started in 1992 as a US-India drill and evolved into a multilateral event to enhance interoperability and address maritime challenges.International Naval Exercise Malabar 2024 is scheduled to take place from October 8 to 18, beginning with the Harbour Phase in Visakhapatnam, followed by the Sea Phase.Hosted by India, this year’s exercise will see the participation of Australia, Japan, and the United States of America.

 

3. 8 October – Indian Air Force Day: Indian Air Force Day is observed every year on 8 October.This day is dedicated to honouring the servicemen and pilots who have sacrificed their lives for the nation and commemorating the establishment of the Indian Air Force (IAF).This year marks the 92nd anniversary of the IAF.Theme 2024 – Bharatiya Vayusena: Saksham, Sashakt aur Aatmnirbhar’ (Potent, Powerful, and Self-Reliant)The Indian Air Force, also known as Bharatiya Vayu Sena’ was established in the country on October 8, 1932, by the British Empire.The first operational squadron came into being on April 1, 1933, with six RAF-trained officers and 19 Havai Sepoys (air soldiers). The aircraft inventory consisted of four Westland Wapiti IIA army co-operation biplanes at Drigh Road as the “A” Flight nucleus of the planned No.1 (Army Co-operation) Squadron.In January 1950, India became a Republic within the British Commonwealth and the Indian Air Force dropped its “Royal” prefix.

 

SPORTS 

 

1. Mumbai win Irani Cup for first time in 27 years: Mumbai has won the 2024-25 season Irani Cup under its first-innings lead over the Rest of India.Mumbai won the trophy after 27 years, having won it in the 1997/98 season. This was the 16th Irani Cup title for the current Ranji Champion, Mumbai.The Irani Cup is a first-class domestic cricket tournament held at the Bharat Ratna Atal Bihari Vajpayee Eakana Stadium in Lucknow.This year, the 2023-24 season Ranji Champion Mumbai, led by Ajinkye Rahane, faced the Rest of India, led by Ruturaj Gaikwad. Sarfraz Khan (Mumbai) was declared the Player of the match for his unbeaten knock of 222.

 

 

 

 

BANKING AND FINANCE

 

1. SEBI gives in-principle nod to Jio Fin-BlackRock for mutual fund entry: Jio Financial Services’ joint venture with BlackRock to enter the mutual fund (MF) space in India has received the nod from the Securities and Exchange Board of India (SEBI).Jio’s entry into the MF space is expected to intensify competition in the industry, which currently has over Rs 66 trillion in assets under management.The firms inked a tie-up for the MF business in July 2023 and applied for a licence with the Indian regulator, the Securities and Exchange Board of India (Sebi), in October 2023.Headquartered of BlackRock – New York ·

 

AWARDS AND HONOURS

 

1. National Anubhav Awards Scheme 2025: In March 2015, the Prime Minister of India, Shri Narendra Modi, introduced the ‘Anubhav’ platform through the Department of Pension & Pensioners’ Welfare. This is an online platform where retiring and retired government employees can share their work experiences with the government. To motivate more people to participate, an Annual Awards Scheme was launched in 2015. This program encourages eligible employees to submit their stories, and those who make outstanding contributions receive awards. So far, 10,886 write-ups have been shared, resulting in 59 Anubhav Awards and 19 Jury Certificates being given to participants.

 

Daily GK Update- 7th Oct, 2024

 NATIONAL UPDATES:

 

1. Nagaland gears up for spectacular silver jubilee Hornbill Festival 2024: The Department of Tourism, Nagaland, will celebrate the silver jubilee of the Hornbill Festival, scheduled from December 1 to 10 at the Heritage Village, Kisama.The tribal bodies are the core and backbone of the Hornbill Festival, and with their cooperation and collaboration, the state has successfully hosted twenty-four Hornbill Festivals so far.Kisama Heritage Village, main venue, is undergoing renovations to welcome thousands of tourists, ensuring a grand celebration of Naga heritage. Naga morungs are traditional huts that were used as dormitories back in the day.These morungs play a crucial role in imparting the knowledge of customs, traditions, and warfare to young men. The festival features replicas of these morungs.

 

2. PM Modi inaugurated GAIL’s first CBG Plant in Jharkhand: Prime Minister Narendra Modi has inaugurated GAIL’s first CBG Plant in Jharkhand, through a virtual ceremony. The plant is built in an area of 7.86 acres at Ranchi Jharkhand, Jhir Dumping Site Mouza Jhiri.This 12,500 m³ per day capacity plant is designed to process 150 tonnes of Municipal Solid Waste to produce 5,000 kg Bio-CNG and 25 tons of fermented bio manure per day.The biogas generated in this facility is to be supplied to nearby CNG stations which can fuel over 600 vehicles per day in the region, contributing to the Atmanirbhar Bharat initiative and promoting the use of clean and green fuel.

In March 2021, GAIL and Ranchi Municipal Corporation signed a Concession Agreement (CA) in the presence of Chief Minister of Jharkhand Hemant Soren to set up this plant.

 

3. BHP signed MoU with SAIL to accelerate potential pathways to steel decarbonisation: The Steel Authority of India Limited (SAIL) has signed an MoU with the leading global resources company, BHP to support steelmaking decarbonisation.This collaboration is an important step for SAIL and BHP in promoting lower carbon steelmaking technology pathways for the blast furnace route in India.Under this MoU, the parties are already exploring several workstreams supporting the potential decarbonisation at SAIL’s integrated steel plants which operate Blast Furnaces (BF), with an initial study to assess various strategies to reduce greenhouse gas emissions (GHG).Chairman of SAIL – Amarendu Prakash

 

4. RBI appoints Aviral Jain as new Executive Director: The Reserve Bank of India (RBI) has appointed Aviral Jain as Executive Director (ED).Prior to being promoted to ED, Jain was serving as Regional Director for Maharashtra.As Executive Director, he will look after the Legal Department, the Premises Department and the Right to Information Act (First Appellate Authority). The new ED has experience of more than three decades in areas of supervision, currency management, foreign exchange regulation and human resource management.

 

 

INTERNATIONAL UPDATES:

 

1. Northeast to hold first ever India International Science Festival showcasing PM’s vision for the Region: Jitendra Singh disclosed that the 10th edition of the India International Science Festival (IISF) will be held at Guwahati, marking a significant milestone in the region’s journey towards becoming a hub for scientific and technological innovation.The festival, to be hosted at IIT Guwahati from November 30th to December 3rd 2024, is a testimony to the Government’s commitment to the Northeast and aligns with Prime Minister Narendra Modi’s focus on the region as a key player in India’s growth story.The 10th edition of IISF carries the theme “Transforming India into an S&T driven Global Manufacturing Hub” reflecting the government’s ambition to merge science and technology with industrial growth, propelling India towards self-reliance and global leadership in manufacturing.

 

2. Nepal, India, Bangladesh sign pact to facilitate cross-border electricity trade: India, Nepal, and Bangladesh have signed a trilateral agreement to export 40 megawatts of electricity from Nepal to Bangladesh via India’s power grid.As per the agreement, Bangladesh will now import 40 megawatts of electricity from Nepal. The Indian side has also been involved in the trade deal, as Nepal’s electricity will be transmitted to Bangladesh through the transmission infrastructure on the Indian territory.For now, Nepal will transmit the energy to India through the 400 KV Dhalkebar-Muzaffarpur cross-border transmission line before India transmits the equivalent to Bangladesh.The rate per unit of electricity has been fixed at 6.4 cents. From the export of electricity, Nepal will make an annual income of around $ 9.2 million.

 

3. Prakash Man Singh Raut appointed as new Chief Justice of Nepal: Nepal’s President Ramchandra Paudel appointed Prakash Man Singh Raut as the new Chief Justice of the country.

Paudel administered the oath of office and secrecy to Chief Justice Raut at a special ceremony organised at Sheetal Niwas, the President’s Office.His appointment comes after the retirement of outgoing Chief Justice Bishowambhar Prasad Shrestha, who reached the mandatory retirement age of 65.

 

4. 5 October – World Teachers Day: World Teachers’ Day is celebrated every year on October 5.

The role of a teacher holds profound importance in our lives, and they play a very important role in shaping our careers, right from our childhood.Theme 2024 – Valuing Teacher Voices: Towards a New Social Contract for EducationThe history of World Teachers’ Day can be traced back to 1966 when The International Labor Organization (ILO) and the United Nations Educational, Scientific, and Cultural Organization (UNESCO) organised a Special Intergovernmental Conference on the Status of Teachers in Paris.World Teachers’ Day is held annually on 5 October to celebrate all teachers around the globe. It commemorates the anniversary of the adoption of the 1966 ILO/UNESCO Recommendation concerning the Status of Teachers, which sets benchmarks regarding the rights and responsibilities of teachers, and standards for their initial preparation and further education, recruitment.

5. 6 October – World Cerebral Palsy Day: World Cerebral Palsy Day is celebrated every year on 6 OctoberObjective – To raise awareness about the condition and promote inclusivity.This day aims to challenge stereotypes and work towards creating an inclusive society where individuals with cerebral palsy are respected for their identities and talents.Theme 2024 – Uniquely CPTo mark this day, various national institutes and regional centres under the Department of Empowerment of Persons with Disabilities (DEPwD) will host programs across the nation to raise awareness about cerebral palsy and empower those affected by it.

 

6. 7 October – World Cotton Day: World Cotton Day is celebrated every year on 7 October.Objective – To raise awareness about the challenges faced by cotton farmers and the cotton industry worldwide.Theme 2024 – Cotton for GoodThe first World Cotton Day (WCD) event was initiated in Geneva and observed on October 7, 2019.Cotton is mainly used in the textile industry, it is also important for animal feed, medical supplies, and making edible oil.Currently, India is the second-largest cotton producer in the world, after China.

 

OTHER UPDATES:

DEFENCE

 

1. Rajnath Singh inaugurated DefConnect 4.0 in Delhi: Defence Minister Rajnath Singh has inaugurated DefConnect 4.0 at Manekshaw Centre, Delhi Cantt.The event has organised by Innovations for Defence Excellence – Defence Innovation Organisation (iDEX-DIO), Department of Defence Production.DefConnect 4.0 marks a milestone in India’s defence innovation journey, bringing together the Armed Forces, Defence Public Sector Undertakings (DPSUs), industry leaders, innovators, start-ups and MSMEs, academia, incubators, investors and policymakers.Till date, iDEX has launched 11 editions of Defence India Start-up Challenges and has garnered over 9,000 applications. It is currently collaborating with more than 450 start-ups/MSMEs on important projects.Launched by Prime Minister Shri Narendra Modi in 2018, iDEX continues to provide a unified platform for various stakeholders in the defence and aerospace sectors, contributing to the vision of Viksit Bharat by 2047.

 

2. DRDO successfully test the 4th Gen VSHORADS Air defence system: Defence Research and Development Organisation (DRDO) has successfully conducted three flight tests of the 4th Generation Very Short Range Air Defence System (VSHORADS) at the Pokhran Field Firing Ranges in Rajasthan.The tests, conducted in the last two days were carried out against a high-speed target, demonstrating very critical parameters of maximum range and maximum altitude interception.The VSHORADS has been designed and developed indigenously by Research Centre Imarat (RCI), Hyderabad, in collaboration with other DRDO laboratories and private companies.

 

3. Visakhapatnam to host Malabar 2024 from October 8: India will host the joint naval exercise of QUAD nations from October 8 to 18 in Visakhapatnam.Hosted by India, this year’s exercise will see the participation of Australia, Japan, and the United States of America.The exercise, named Malabar 2024, includes sea and harbor phases focusing on cooperation in the Indo-Pacific region. It features various Indian naval platforms, such as guided missile destroyers, submarines, and fighter aircraft.The Malabar exercise started in 1992 as a US-India drill and evolved into a multilateral event to enhance interoperability and address maritime challenges.International Naval Exercise Malabar 2024 is scheduled to take place from October 8 to 18, beginning with the Harbour Phase in Visakhapatnam, followed by the Sea Phase.Hosted by India, this year’s exercise will see the participation of Australia, Japan, and the United States of America.

 

SPORTS 

 

1. Bihar CM Nitish Kumar unveils logo, mascot for Women’s Asian Champions Trophy 2024: Bihar Chief Minister Nitish Kumar unveiled the logo and mascot for the Women’s Asian Champions Trophy-2024, which will be held in Rajgir from November 11-20.The mascot, named ‘Gudiya’, is inspired by the state bird of Bihar, Sparrow.The hockey stick in Gudiya’s hand is the symbol of the hockey competition and the goalkeeper’s glove in the hand, and the defensive posture reflect the strategic qualities of alertness.The design of the ‘logo’ of this competition is a symbol of the rich cultural heritage and all-round progress of glorious Bihar. The Bodhi tree and hockey stick have been kept in the logo.The Bodhi tree is a symbol of knowledge, power, harmony, tolerance and development which connects people with the rich spiritual and cultural history of Bihar.The Women’s Asian Champions Trophy-2024 is a joint venture of Hockey India and the Bihar government and will be held at the newly developed Rajgir Hockey Stadium.

 

2. Mumbai win Irani Cup for first time in 27 years: Mumbai has won the 2024-25 season Irani Cup under its first-innings lead over the Rest of India.Mumbai won the trophy after 27 years, having won it in the 1997/98 season. This was the 16th Irani Cup title for the current Ranji Champion, Mumbai.The Irani Cup is a first-class domestic cricket tournament held at the Bharat Ratna Atal Bihari Vajpayee Eakana Stadium in Lucknow.This year, the 2023-24 season Ranji Champion Mumbai, led by Ajinkye Rahane, faced the Rest of India, led by Ruturaj Gaikwad. Sarfraz Khan (Mumbai) was declared the Player of the match for his unbeaten knock of 222.

 

BANKING AND FINANCE

 

1. NCRTC and Airtel Payments Bank Launch Co-Branded National Common Mobility Cards to Enhance Commuter Convenience: The National Capital Region Transport Corporation (NCRTC) and Airtel Payments Bank have joined forces to introduce co-branded National Common Mobility Cards (NCMC), aimed at streamlining travel for commuters.The cards offer multiple payment options including Debit, Prepaid, and Prepaid Payment Instruments for Mass Transit Solutions (PPI-MTS).The NCMC cards are designed to simplify travel across various modes of transport, such as metros, railways, and buses, by offering a unified payment solution. This eliminates the need for multiple tickets or cards.The NCMC-enabled cards also extend their utility to everyday purchases, allowing users to shop, dine, and make payments at various retail outlets.

 

2. SEBI gives in-principle nod to Jio Fin-BlackRock for mutual fund entry: Jio Financial Services’ joint venture with BlackRock to enter the mutual fund (MF) space in India has received the nod from the Securities and Exchange Board of India (SEBI).Jio’s entry into the MF space is expected to intensify competition in the industry, which currently has over Rs 66 trillion in assets under management.The firms inked a tie-up for the MF business in July 2023 and applied for a licence with the Indian regulator, the Securities and Exchange Board of India (Sebi), in October 2023.Headquartered of BlackRock – New York ·

 

Daily GK Update- 6th Oct, 2024

 NATIONAL UPDATES:

 

1. JP Nadda – Chairperson of 77th WHO South-East Asia Session: This region of the WHO includes 11 countries, such as India, Bangladesh, and Sri Lanka. It is one of the largest regions in the world, with more than 25% of the global population living here. Due to its size and diversity, it faces unique health challenges that need to be addressed. The RC77 session is focused on identifying key health priorities and improving healthcare access for all. The representatives will work together to come up with plans to solve emerging health problems and strengthen healthcare systems in their countries.

 

2. Banjara Virasat ‘Nagara’ Museum: The Banjara Virasat ‘Nagara’ Museum was recently opened by Prime Minister Narendra Modi in Pohradevi, located in the Washim district of Maharashtra. This museum is dedicated to celebrating the rich cultural heritage of the Banjara community, which is why Pohradevi is often called the “Kashi of the Banjara Community.” The museum is a four-story building with 13 different galleries. These galleries showcase the history and traditions of the Banjara people. Visitors can learn about important Banjara leaders and movements through portraits and exhibits. The displays also highlight the community’s unique arts, crafts, and way of life, giving an in-depth look into their vibrant culture.

 

3. What is National Agriculture Code?: What is National Agriculture Code?The Bureau of Indian Standards (BIS) is developing a new set of guidelines called the National Agriculture Code (NAC). This is similar to the existing national codes used for buildings and electrical systems, but specifically for agriculture. The goal is to create a set of standards that can help improve the quality and efficiency of farming practices in India, which currently lack detailed regulations. The NAC is a plan to create rules and guidelines that will cover various agricultural practices across the country. These guidelines will aim to standardize farming methods to ensure that they are efficient, safe, and of high quality. This is important because, while there are already standards for things like farming machinery, fertilizers, and pesticides, many other areas of farming do not have clear rules.

 

4. Union Cabinet Approves Two Umbrella Schemes for Agriculture: The Union Cabinet, under Prime Minister Narendra Modi, has approved an important change in how agricultural schemes are managed in India. This change aims to simplify the existing Centrally Sponsored Schemes (CSS) by combining them into two main umbrella programs: The schemes will be carried out in partnership with State Governments. While they will build on existing programs, new elements will be added to make things more efficient, especially through the use of technology.

 

5. PM Modi to Inaugurate Mumbai Metro Line 3 in Maharashtra: Prime Minister Narendra Modi’s upcoming tour to Maharashtra is a major development event for the state’s infrastructure. He will inaugurate the Colaba-Bandra-SEEPZ Mumbai Metro Line 3, which is the city’s first fully underground metro line. Along with this, he will also launch several projects aimed at improving urban living and supporting farmers. The Mumbai Metro Line 3 is a new metro line in the city that stretches over 12.69 kilometers. The Prime Minister will open a part of this line between Aarey JVLR and Bandra Kurla Complex (BKC). He will officially start the service with a flag-off ceremony at the BKC metro station. As part of the event, he will also take a ride on the metro to experience it firsthand.

 

INTERNATIONAL UPDATES:

 

1. Nobel Prize 2024 in Medicine-Ambros and Ruvkun for MicroRNA Discovery: The Nobel Prize in Medicine for 2024 was awarded to Victor Ambros and Gary Ruvkun for discovering microRNA and its vital role in controlling how genes work after they are copied. This discovery changed how we understand gene regulation, showing how certain genes are turned on or off to support different cell functions, like in muscle or nerve cells. Inside every cell, genes act like instructions that tell the cell how to function. Even though all the cells in our body have the same genes, they can behave very differently. For example, muscle cells and nerve cells look and act differently, even though they share the same genetic code. This happens because only certain genes are turned on in each cell type, depending on what the cell needs to do. This process is called gene regulation.

 

2. Negro River Hits Record Low Amid Severe Drought Crisis: The Negro River, an important part of the Amazon River system, is facing its worst drought in more than 122 years. On October 4, 2024, the water levels in Manaus, a city near the river, dropped to just 12.66 meters, much lower than the usual 21 meters. Andre Martinelli, a water expert, has stated that the river’s levels are likely to keep dropping throughout October. This signals a worsening of the drought, which is already severe.The drought is causing major problems for people who live near the river. Many daily activities, such as transporting goods or getting clean water, have become much harder.

 

3. WHO Approves First Mpox Test for Emergency Use: The World Health Organization (WHO) recently approved a new test called the Alinity m MPXV assay to help increase global access to testing for Mpox (formerly known as monkeypox). This decision, made on October 3, 2024, is in response to the growing need for quick and accurate testing as cases of Mpox rise, especially in areas facing outbreaks. Mpox is a viral infection that can cause serious health problems. In August 2024, the WHO declared a rise in Mpox cases, particularly in Africa, as a public health emergency of international concern. Since then, India has also reported 30 cases. Because Mpox can spread quickly, having reliable testing is crucial for controlling the virus.

 

 

 

 

OTHER UPDATES:

DEFENCE

 

1. DRDO Successfully Conducts Flight-Tests of Advanced VSHORADS System: The Defence Research and Development Organisation (DRDO) successfully tested the Very Short Range Air Defence System (VSHORADS) three times in Pokhran, Rajasthan. These tests show a big step forward in India’s ability to develop its advanced defense systems. VSHORADS is a 4th generation, portable missile system designed to protect against threats in the air at short distances. The Very Short Range Air Defence System (VSHORADS) is meant to defend against low-flying threats like drones and aircraft within a range of 5 to 20 kilometers. It uses surface-to-air missiles guided by infrared, radar, or optical systems to track and hit targets. VSHORADS is becoming more important in modern warfare due to the increasing use of drones. These systems are typically placed near military bases, borders, and other critical areas for protection.

 

2. India’s Maritime Decarbonization Conference: The Conference on Maritime Decarbonization in New Delhi, co-hosted by the Ministry of Ports, Shipping and Waterways, and the Asian Development Bank, brought together more than 200 participants, including leaders from Indian ports, government officials, and international experts. The goal of the conference was to discuss how shipping and port operations can become more environmentally friendly. In his keynote speech, Secretary TK Ramachandran explained that the maritime sector is crucial for the economy but also plays a key role in fighting climate change. The Indian government is committed to making maritime operations more sustainable, which means they want to reduce pollution and adopt greener practices.

 

SCIENCE AND TECHNOLOGY

 

1. Scientists Discover Innovative Method to Refreeze Arctic Ice: Researchers are working on an innovative idea to address the impacts of climate change on the Arctic by developing a method to “refreeze” the Arctic Sea. Early trials show promise, suggesting that this method could help make the sea ice thicker by pumping seawater into already frozen areas. The Arctic is warming rapidly, and if this continues, it could become ice-free in the summers by the 2030s. This would be disastrous for global ecosystems and the planet’s climate stability. Over the past few decades, nearly 13% of the sea ice in the Arctic has disappeared every 10 years.

 

2. Pseumenes siangensis : New Wasp Discovered in Arunachal Pradesh: Entomologists from the Ashoka Trust for Research in Ecology and the Environment (ATREE) have found a new species of potter wasp in Arunachal Pradesh, in the Eastern Himalayas. The wasp is named Pseumenes siangensis, after the Siang Valley where it was discovered. This discovery shows how rich the region’s biodiversity is and emphasizes the need for more research on insects in the area. The wasp is about 30.2 mm long and has special body features and color patterns that set it apart from other similar species. Scientists collected these wasps using sweep nets during their fieldwork and then studied their physical features closely to confirm they were a new species.

 

BANKING AND FINANCE

 

1. National Biodiversity Strategy and Action Plans Tracker (NBSAP): As the COP16 biodiversity conference approaches, set to take place from October 21 to November 1, 2024, there are growing concerns because only 10% of countries have met their promises to protect biodiversity. This conference is important because it’s the first major meeting since the world agreed on the Kunming-Montreal Global Biodiversity Framework (GBF) in 2022. The GBF was adopted by 196 countries and aims to stop and reverse biodiversity loss by 2030. It acts as a guide for countries, showing them how to protect and preserve nature. The goal is to get nations to commit to stronger actions to save biodiversity.