Daily GK Update- 26th Aug, 2024

 NATIONAL UPDATES:

 

1. Postal Dept launches Deen Dayal SPARSH Yojana to encourage Philately: The Department of Post under the Union Ministry of Communication has launched the Deen Dayal SPARSH Yojana to promote research and scholarship in stamps amongst the country’s students.This scholarship aims to inculcate the hobby of Philately among the children from a young age.This scholarship will be provided at all India level and each Postal circle will provide maximum 40 scholarships to 10 students of class 6, 7, 8, and 9 each. The amount of scholarship will be ₹ 6000/- per annum at the rate of ₹ 500/- per month, which will be payable on quarterly basis.While making selection for the scholarship, it should be kept in mind that the candidate must have secured at least 60 percent marks or equivalent grade/grade points in the last final examination. There will be a relaxation of 5% for SC/ST candidates.

 

2. NCERT and Education Ministry launches e-magazine ‘Sapno ki Udaan’: The Union Ministry of Education released the inaugural edition of the e-magazine ‘Sapno ki Udaan’.The e-magazine was launched on the occasion of the first National Space Day, which was observed across the country on 23 August to commemorate the soft landing of the Vikram lander of the Chandrayaan -3 mission on the south pole of the Moon on 23 August 2023.As an e-magazine, Sapno ki Udaan’s inaugural and forthcoming editions will be available online for all readers on the NCERT portal.

The theme of the inaugural Sapno ki Udaan e-magazine was ‘Space’.All the articles, poems, etc., published in the inaugural edition are related to Space and the Chandrayaan Missions of the Indian Space Research Organisation (ISRO).

 

3. Labour ministry launches centralised portal for construction workers: The government launched a portal where construction workers can register themselves to avail benefits of various schemesThe portal, named Building and other Construction Workers (BoCW) Management Information System (MIS).The portal will function as the centralised data management system for compilation and analysis of the data obtained from BoCW welfare boards of the states.The states and UTs were also requested to expedite the integration of BoC workers’ data with the E-Shram portal of the Ministry to enable access to various schemes as a one-stop-solution for unorganized sector workers.

 

4. Unified Pension Scheme to replace National Pension System in India: The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Unified Pension System (UPS) for its employees. The new scheme will replace the existing National Pension System (NPS).The National Pension System was mandatory for central government employees except for the armed forces, which joined the service on 1 January 2004. Later, many state governments implemented the NPS for their employees.According to the government of India the Unified Pension Scheme is proposed to be implemented from 1 April 2025.

 

INTERNATIONAL UPDATES:

 

1. Petronet LNG inks MoU with Sri Lanka’s LTL Holdings: Petronet LNG (PLL) has entered into an MoU with LTL Holdings of Sri Lanka, for supply of LNG to LTL’s dual fuelled power plants in Kerawalapitiya, Colombo.Both parties, through this MoU, have agreed for development of LNG supply chain from PLLs LNG terminal, Kochi to LTLs power plant in Kerawalapitiya, Colombo.The proposed supply of LNG from PLL’s Kochi LNG Terminal would be through LNG ISO tank containers involving multi-modal transport system. The initial term of LNG supply would be 5 years, which is extendable subject to mutual agreement.

 

2. India-US ink pact for mutual supply of defence goods & services: India and the United States have entered into a bilateral non-binding Security of Supply Arrangements (SOSA) to ensure the mutual supply of defence goods and services and address unanticipated supply chain disruptions to meet respective national security needs.Negotiations for the Reciprocal Defence Procurement Agreement (RDP), are still ongoing between the two countries. Through the RDP, Indian companies will be able to service US Department of Defence (DoD) contracts and vice versa, American businesses will have to honour Indian Ministry of Defence (MoD) deals.The two sides also signed the Memorandum of Agreement regarding the Assignment of Liaison Officers as a follow-up to the earlier mutually agreed decision to enhance information sharing between India and US.Through the SOSA, the United States and India agree to provide reciprocal priority support for goods and services that enhance national defense, said the US Department of Defence in a statement to the media.

 

3. India and Ukraine sign agreements in agriculture, medicine, and cultural cooperation: India and Ukraine have inked four agreements and resolved to enhance their cooperation in a range of key areas including defence, trade, pharmaceuticals, green energy and education.In the field of medical products regulation, the Central Drugs Standard Control Organisation of India and the State Service of Ukraine on Medicines and Drugs Control signed a Memorandum of Understanding (MoU). This MoU outlines plans for collaboration on improving the safety and quality of medical products through information exchange, capacity building, workshops, training, and mutual visits.Another MoU establishes the framework for Indian humanitarian grant assistance to support high-impact community development projects in Ukraine. These projects will be carried out in partnership with the Ukrainian government, aimed at benefiting the local population.

 

4. Mumbai ranks 2nd, New Delhi 3rd in Global Property Price Index; Manila tops the list: Mumbai and New Delhi have recorded an annual increase in their real estate prices at 13% and 10.6% respectively, while Bengaluru has witnessed a modest 3.7% rise.Globally, Manila has topped the Knight Frank’s Prime Global Cities Index with an increase of 26%.The Prime Global Cities Index is a valuation-based index tracking the movement of prime residential prices across 44 cities worldwide. The index tracks nominal prices in local currency.Across the 44 cities world-wide surveyed for this report, annual price growth slowed from 4.1% in Q1 to 2.6% in Q2 2024, remaining below the long-term average of 5.3%.Manila topped the charts with a 26% annual rise in Q2 2024. Dubai, after a 124% increase since 2020, saw slight moderation declining by 0.3% YoY, while Miami, up 77% since 2020, climbed 8% in the last year.

 

5. 26 August – International Dog Day: International Dog Day is observed every year on 26 August.

This day is all about recognising the importance of dogs in our lives, showing appreciation for them, and promoting their welfare.Theme 2024 – Every dog deserves a spa dayInternational Dog Day was first celebrated in 2004 by animal welfare activist and pet lifestyle expert Colleen Paige. Ms Paige chose the date of August 26 in particular as it was on this date that the activist’s family adopted their first dog “Sheltie” from the local animal shelter. Ms Colleen was 10 when the family welcomed Sheltie into their fold.

 

OTHER UPDATES:

DEFENCE

 

1. IAF’s Sarang Team Showcases India’s Aviation Prowess at Egypt Airshow: The IAF dispatched its Sarang Helicopter Display Team to participate in the inaugural edition of the Egypt International Airshow.The event is scheduled to take place from September 3 to 5, 2024, at the strategically located Al-Alamein International Airport in Egypt’s El Dabaa.The airport, situated along the Mediterranean, serves as a major hub for global air, commercial, and logistical transport, making it an apt location for an event of this magnitude.The Sarang team, renowned for their precision and impressive aerial displays, will be showcasing the indigenous ‘Dhruv’ Advanced Light Helicopters (ALH Mk-I). These helicopters, built by Hindustan Aeronautics Limited (HAL), are multi-role and multi-mission, featuring a hinge-less composite main rotor, and are designed for both military and civilian applications. The contingent will be carrying five Sarang helicopters, which are being airlifted by C-17 Globemaster aircraft for the event.

 

SPORTS 

 

1. Lando Norris won Dutch Grand Prix: Lando Norris has won the Dutch Grand Prix to beat Max Verstappen in Zandvoort.McLaren’s Norris continued his run of poor starts as he failed to keep the lead on a sixth successive occasion from the front of the Formula 1 grid, but passed Red Bull’s Verstappen at the start of lap 18 before romping home to win by 22 seconds.Ferrari’s Charles Leclerc drove a brilliant race from sixth on the grid to hold off Norris’ McLaren team-mate Oscar Piastri for the final podium spot.

 

SCIENCE AND TECHNOLOGY

 

1. India launches world’s first mobile-launched hybrid rocket, RHUMI-I: The world’s first mobile hybrid rocket, RHUMI-1, was successfully launched. The successful launch of the RHUMI-1 rocket also marks the launch of the first reusable hybrid rocket in India.The rocket was developed by Chennai-based startup Space Zone India in collaboration with Martin Group.The success of RHUMI-1 is expected to improve the efficiency and reduce the operational cost of rocket launches, making space exploration more accessible.The RHUMI-1 rocket is launched from a mobile launcher like a special truck, and the rocket can be used again; hence, it is called a reusable rocket.The RHUMI-1 reusable hybrid rocket was launched from a mobile launcher in Thiruvidandhai, a coastal village in Chennai, Tamil Nadu.

 

BANKING AND FINANCE

 

1. What is the Unified Pension Scheme?: The Modi government approved a new pension scheme called the Unified Pension Scheme (UPS). The UPS includes provisions for a fixed pension amount, ensuring retirees receive a guaranteed and predetermined sum regularly after retirement.Under UPS, if you work for 25 years or more, you will receive 50% of your average pay for the preceding 12 months as a pension, adjusted for inflation through dearness allowance.Employee contributions will remain the same under the UPS. However, the government will increase its contribution from 14% to 18.5%.At retirement under UPS, you will receive a lump sum payment at superannuation along with gratuity. This will be 1/10th of your monthly emoluments (pay + DA) on the date of superannuation for every six months of completed service. This payment will not reduce the assured pension amount.

 

2. BharatPe, OTO Capital and Volt Money bring secured loans to its merchant partners: BharatPe has partnered with OTO Capital, a digital commerce and lending platform, to enable two-wheeler loans.Additionally, the company has partnered with Volt Money to facilitate loans against Mutual Funds to its merchant partners. In the next phase, the company plans to expand this to a multi-product and multi-lender offeringBharatPe’s merchants can now avail two-wheeler loans of up to Rs. 2.5 lacs, at competitive interest rates, for their next two-wheeler purchase from OTO Capital.The loan application process is 100% digital and merchants have the option to choose the repayment period between 12- 48 months.

 

3. RBI cancels registration of Margdarshak Financial Services over high NPAs: The Reserve Bank of India (RBI) has cancelled the registration of Lucknow-headquartered Margdarshak Financial Services Ltd over high net NPAs and defaults on repayment to lenders.As on March 31, 2021, the company failed to maintain the minimum regulatory net owned fund of Rs 5 crore and minimum capital adequacy ratio of 15 per cent stipulated for NBFC-MFI.As per the statutory audit, as on March 31, 2021, the NBFC was facing cash flow issues and defaulted on repayment of Rs 49.27 crore to its lenders.Meanwhile, the RBI imposed penalties on NDX P2P Pvt Ltd and Innofin Solutions Pvt Ltd for non-compliance with certain provisions of ‘peer-to-peer lending platform’ and guidelines on digital lending.

 

 

 

 

 

Daily GK Update- 25th Aug, 2024

 NATIONAL UPDATES:

 

1. Actor Vijay launches his political party Tamilaga Vettri Kazhagam’s flag: Tamil cinema’s leading actor and Tamilaga Vettri Kazhagam president Vijay launched his party’s flag and flag song at the party headquarters at Panaiyur in Chennai.Vijay introduced the two-coloured flag with red on top and bottom; yellow in the middle; and a flower resembling Vaagai surrounded by 28 stars at the centre with two trumpeting tuskers facing each other on either side.Warriors of ancient Tamil kingdoms wore Vaagai flower garlands to symbolise victory. Mr. Vijay also hoisted the flag at the party’s headquarters and launched the party’s flag song Thamizhan Kodi Parakuthu.Vijay had in February, this year announced the formation of his political party Tamilaga Vettri Kazhagam and declared that his party would enter the electoral fray in the 2026 Tamil Nadu Assembly elections.

 

2. Odisha Chief Minister Mohan Majhi launched Subhadra scheme: The Bharatiya Janata Party Government led by Chief Minister Mohan Majhi, announced the implementation of the Subhadra scheme under which ₹50,000 will be provided over five years to one crore women between the ages of 21 and 60.The Subhadra scheme is one of the key poll promises made by the BJP which came to power toppling 24 years rule of former Chief Minister Naveen Patnaik.The Scheme has been approved for implementation from the financial year 2024-25 to financial year 2028-29. An outlay of ₹55,825 crore has been made for this initiative.Subhadra will transform the lives of more than one crore women of the State. It will cover all eligible women aged 21 years or above and less than 60 years.A total of ₹10,000 per annum will be paid in two installments of ₹5000 each on Rakhi Purnima Day and International Women’s Day (March 8).

 

3. DGCA fines Air India Rs 90 lakh for operating flight with unqualified crew: Civil aviation regulator Directorate General of Civil Aviation (DGCA) has slapped a fine of ₹90 lakh on Air India for operating a flight on July 9 from Mumbai to Riyadh with an unqualified crew.Besides, the watchdog has slapped fines of Rs 6 lakh and Rs 3 lakh on Air India’s Director of Operations and Director of Training, respectively, for the lapse.Air India Ltd operated a flight commanded by a non-trainer line captain paired with a non-line-released first officer which has been viewed by the regulator as a serious scheduling incident having significant safety ramifications.

 

INTERNATIONAL UPDATES:

 

1. Nestlé CEO Mark Schneider steps down after 8 years; Laurent Freixe to take over: Nestle chief executive Mark Schneider quit from the Swiss food group after eight years in charge.He will be replaced by Latin America boss Laurent Freixe.Laurent Freixe joined Nestle in France in 1986 and has “successfully managed” the company’s European zone during the 2008 financial crisis and until 2014.After this he was named CEO of the Americas region before taking over at the newly created Latin America zone in 2022, “where he has been successfully leading through challenging conditions”.

 

2. India, Ukraine Sign Agreements to Strengthen Bilateral Ties:  One of the key areas they focused on was defence. The leaders agreed to work together more closely on defence matters, including creating joint ventures to manufacture military equipment in India. This will help strengthen their strategic ties. Since the war in 2022, trade between India and Ukraine has decreased. To address this, Modi and Zelenskyy decided to task the India-Ukraine inter-governmental commission with revitalizing trade and bringing it back to the levels it was at before the conflict.

 

3. US Approves $52.8 Million Sonobuoy Sale to India: The purpose of this sale is to support stability in the region rather than disrupt it. It is designed to maintain the current military balance, ensuring that the region remains peaceful. The companies expected to be the main contractors for this sale are Sparton Corporation and Undersea Sensor Systems Inc. There haven’t been any reports about additional agreements, known as “offset agreements,” related to this deal. This proposed sale of anti-submarine warfare equipment to India is a significant step in boosting defence relations between the US and India. It reflects the shared interests of both countries in security and strategic cooperation, especially in a world where the geopolitical landscape is rapidly changing.

 

OTHER UPDATES:

DEFENCE

 

1. India, and Indonesia Condemn Cross-Border Terrorism From Pakistan: The meeting also addressed concerns about how terrorists are using new technologies. This includes the misuse of the internet for carrying out terrorist activities and funding their operations. India and Indonesia agreed on the importance of sharing information about terrorism threats and working together more closely in regional and global forums like the United Nations and the ASEAN Regional Forum to improve counter-terrorism efforts.

 

SPORTS 

 

1. Ronak Dahiya wins Bronze in U-17 Wrestling Championship: Indian wrestler Ronak Dahiya won bronze medal in Men’s Greco-Roman 110 kilograms event at Under-17 World Wrestling Championship in Jordan.Dahiya defeated Turkish wrestler Emrullah Capkan 6-1 in the crucial medal match.With this, India has finished their campaign in Men’s Greco-Roman category with two Bronze medals in the championship as Sainath Pardhi also secured Bronze in GR 51 kilograms category.

 

2. Neeraj Chopra won silver in Lausanne Diamond League: Star Indian javelin throw athlete Neeraj Chopra registered a season-best throw of 89.49m at the Lausanne Diamond League 2024, in his first competitive appearance since he bagged silver for the nation at the Paris Olympics 2024.The 26-year-old was edged out by Grenada’s Anderson Peters, who claimed the top spot in Switzerland with a mammoth throw of 90.81m. Julian Weber of Germany came in third on the day with a best throw of 87.08m.The top six javelin throwers in the season’s standings qualify for the final in Belgium slated to be held on the 14th of September.

 

3. Shikhar Dhawan retires from all forms of Cricket: One of the finest One Day Internationals (ODI) batsmen in the world, Shikhar Dhawan has announced his retirement from all forms of cricket. His last competitive match was for Punjab Kings in the Indian Premier League (IPL) in April 2024. Shikhar Dhawan played 269 international matches in his cricketing career and scored 24 hundreds-17 in ODIs and 7 in test matches.His last game for India was an ODI against Bangladesh in December 2022.Shikhar Dhawan, nicknamed ‘Gabbar’ by his teammate, is a left-handed batsman who made his debut for India in an ODI Match against Australia in Visakhapatnam in 2010.He created a world record by scoring the fastest century by a debutant in a Test match, an 85-ball hundred against Australia in Mohali in the 2013 Test match.

 

SCIENCE AND TECHNOLOGY

 

1. India Celebrates First National Space Day on August 23: As India looks ahead, there’s a lot of excitement about upcoming space missions, especially Gaganyaan, which is India’s plan to send humans into space in 2024. The government has a clear vision for the future, aiming to keep India at the forefront of space exploration. National Space Day is a time to remember India’s incredible achievements in space. It honors the scientists who have made these accomplishments possible and also serves as a reminder of the exciting future that lies ahead for India’s space program.

 

2. Polaris Dawn Aims for Historic Non-Government Spacewalk: During the mission, the crew will travel through the Van Allen Belts, which are two rings of charged particles surrounding Earth, held in place by Earth’s magnetic field. These belts are filled with radiation that can be harmful to astronauts. The inner belt contains high-energy particles from cosmic rays, while the outer belt has particles from the sun. Studying how this radiation affects humans is crucial for future space missions, especially those that will travel farther into space.

 

BANKING AND FINANCE

 

1. Bandhan Bank launches Avni Saving Account for Women Customer: Kolkata-based Indian Private sector bank Bandhan Bank has launched an exclusive savings account, Avni, for women customers.The bank launched the product on its 9th foundation day, which is on 23 August.The bank also launched a customer loyalty programme called Bandhan Banks Delight. The bank is women-focused, and of its 3.4 customers,73% are women.With the Avni account, customers receive an exclusive debit card that provides benefits like free airport lounge access, personal accident insurance coverage of ₹10 lakh, lost card liability coverage of ₹3.5 lakh, and special milestone-based offers from premium brands. Avni also offers discounts on annual locker rentals, gold loan processing fees, and beauty and wellness products.

 

 

 

Daily GK Update- 24th Aug, 2024

 NATIONAL UPDATES:

 

1. Ministry of Education launches second cycle of Capacity Building Program on Specific Learning Disability: The Ministry of Education has launched the second cycle of its Capacity Building Program on Specific Learning Disability (SLD) under the Malaviya Mission Teacher Training Programme (MMTTP).Building on the success of the first cycle, this programme is designed to empower Higher Educational Institutions (HEIs) with the skills and knowledge necessary, to support students with specific learning disabilities.The first round of the ‘Capacity Building Program on Specific Learning Disabilities’ was conducted from January to July 2024 partnered with Changeinkk Foundation. In the first round, a cohort of 27 HEIs participated in the programme including Central Universities, IITs, IIITs, IIMs, IISERs, SPAs, and NITs.As part of the programme, different sessions were conducted, viz., Orientation Session, Sensitization Session, Masterclasses, In-Person Zone-wise Workshop, and Monitoring of Implementation. More than 400 faculty members from different departments of these institutions benefited.

 

2. Actor Vijay launches his political party Tamilaga Vettri Kazhagam’s flag: Tamil cinema’s leading actor and Tamilaga Vettri Kazhagam president Vijay launched his party’s flag and flag song at the party headquarters at Panaiyur in Chennai.Vijay introduced the two-coloured flag with red on top and bottom; yellow in the middle; and a flower resembling Vaagai surrounded by 28 stars at the centre with two trumpeting tuskers facing each other on either side.Warriors of ancient Tamil kingdoms wore Vaagai flower garlands to symbolise victory. Mr. Vijay also hoisted the flag at the party’s headquarters and launched the party’s flag song Thamizhan Kodi Parakuthu.Vijay had in February, this year announced the formation of his political party Tamilaga Vettri Kazhagam and declared that his party would enter the electoral fray in the 2026 Tamil Nadu Assembly elections.

 

3. Union FM Nirmala Sitharaman inaugurates GST Bhawan at Udaipur: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman inaugurated the GST Bhawan, an Official complex of CGST, Udaipur Commissionerate under the Central Board of Indirect Taxes and Customs (CBIC), at Udaipur, Rajasthan.The Union Finance Minister also launched ICETAB 2.0, a handheld device for customs operations, and expressed hope that it will help in uploading real-time examination reports and in quicker clearance of cargoes.The complex is located at one of the most preferred locations in Udaipur.

 

4. Odisha Chief Minister Mohan Majhi launched Subhadra scheme: The Bharatiya Janata Party Government led by Chief Minister Mohan Majhi, announced the implementation of the Subhadra scheme under which ₹50,000 will be provided over five years to one crore women between the ages of 21 and 60.The Subhadra scheme is one of the key poll promises made by the BJP which came to power toppling 24 years rule of former Chief Minister Naveen Patnaik.The Scheme has been approved for implementation from the financial year 2024-25 to financial year 2028-29. An outlay of ₹55,825 crore has been made for this initiative.Subhadra will transform the lives of more than one crore women of the State. It will cover all eligible women aged 21 years or above and less than 60 years.A total of ₹10,000 per annum will be paid in two installments of ₹5000 each on Rakhi Purnima Day and International Women’s Day (March 8).

 

5. Eastern Railway develops ‘Prabodh’ chatbox for easier access to railway rules: The 161-year-old Kanchrapara Workshop of Eastern Railway (ER) in West Bengal — one of the oldest such establishments in the country — has come up with an Artificial Intelligence-based chatbox named ‘Prabodh’ to help ER employees remain abreast with the latest rules and regulations.Prabodh is being touted as a human resource management wizard that will help employees give their best while keeping them informed about their responsibilities and rights.Prabodh is not merely a chatbot; it is a groundbreaking innovation designed to streamline the complex world of Railway Establishment Rules. Developed by the personnel department at the Kanchrapara Workshop, Prabodh leverages the cutting-edge capabilities of the OpenAI platform to provide an intelligent, responsive, and user-centric experience.

 

INTERNATIONAL UPDATES:

 

1. DGCA fines Air India Rs 90 lakh for operating flight with unqualified crew: Civil aviation regulator Directorate General of Civil Aviation (DGCA) has slapped a fine of ₹90 lakh on Air India for operating a flight on July 9 from Mumbai to Riyadh with an unqualified crew.Besides, the watchdog has slapped fines of Rs 6 lakh and Rs 3 lakh on Air India’s Director of Operations and Director of Training, respectively, for the lapse.Air India Ltd operated a flight commanded by a non-trainer line captain paired with a non-line-released first officer which has been viewed by the regulator as a serious scheduling incident having significant safety ramifications.

 

2. PM Modi presents BHISHM Cubes to Ukraine during first visit to Kyiv: Prime Minister Narendra Modi has presented four BHISHM (Bharat Health Initiative for Sahyog Hita and Maitri) Cubes to the Ukrainian government during his visit to the war-torn country where he met President Volodymyr Zelenskyy under the shadow of the raging war with Russia.Each BHISHM Cube consists of medicines and equipment for the first line of care for all kinds of injuries and medical situations. It also includes surgical equipment for a basic operation room that can manage 10-15 basic surgeries per day.The Cube can handle about 200 cases of diverse nature in emergencies such as trauma, bleeding, burns, fractures, etc.It can also generate power and oxygen in limited amounts. A team of experts from India has been deployed to provide initial training to the Ukrainian side to operate the cube.

 

3. Nestlé CEO Mark Schneider steps down after 8 years; Laurent Freixe to take over: Nestle chief executive Mark Schneider quit from the Swiss food group after eight years in charge.He will be replaced by Latin America boss Laurent Freixe.Laurent Freixe joined Nestle in France in 1986 and has “successfully managed” the company’s European zone during the 2008 financial crisis and until 2014.After this he was named CEO of the Americas region before taking over at the newly created Latin America zone in 2022, “where he has been successfully leading through challenging conditions”.

 

OTHER UPDATES:

 

SPORTS 

 

1. Diana Pundole: First Indian Woman Racer to Win National Championship: Diana Pundole, a mother of two and a teacher from Pune, has shattered the glass ceiling by claiming the national championship title in the saloon category at the MRF Indian National Car Racing Championship 2024, held in Chennai.She holds the distinction of being the first and only woman participant in the prestigious Indian Touring Cars mixed category, a fiercely competitive racing championship where most participants boast a minimum of 10 to 20 years of experience.Her impressive racing resume includes competing at world-renowned venues such as the Dubai Autodrome, the Hockenheimring, and the F1 Circuit de Spa in Belgium.She has also participated in high-profile races, including the Porsche 911 GT3 Cup, Ferrari 488 Challenge, BMW M2 Competition, and Renault Clio Cup.

 

2. Ronak Dahiya wins Bronze in U-17 Wrestling Championship: Indian wrestler Ronak Dahiya won bronze medal in Men’s Greco-Roman 110 kilograms event at Under-17 World Wrestling Championship in Jordan.Dahiya defeated Turkish wrestler Emrullah Capkan 6-1 in the crucial medal match.With this, India has finished their campaign in Men’s Greco-Roman category with two Bronze medals in the championship as Sainath Pardhi also secured Bronze in GR 51 kilograms category.

 

3. Rohit Sharma & Virat Kohli honoured at the 26th CEAT Cricket Awards: The Indian men’s cricket team captain Rohit Sharma was awarded the 26th CEAT International Cricketer of the Year Award at a ceremony held in Mumbai.Sharma was honoured for his exceptional performance in the 2023-24 season. Under his captaincy, India reached the final of the 13th ICC Men’s ODI Cricket World Cup but lost to Australia.During this period, Rohit scored around 1800 international runs, including 597 runs during the 13th ODI World Cup.Virat Kohli, who had a terrific year in the One Day Internationals (ODI), was honoured with the Best ODI Batter of the Year award.In the 2023-24 season, Kohli scored 1377 runs, which included six centuries and eight fifties. Kohli was the leading scorer of the 2023 ODI World Cup with 765 runs at an average of 95.62.During the World Cup, Kohli equalled Sachin Tendulkar’s record of most centuries -49 in ODI. With 50 ODI centuries, Virat Kohli has surpassed Tendulakar’s record.

 

4. Neeraj Chopra won silver in Lausanne Diamond League: Star Indian javelin throw athlete Neeraj Chopra registered a season-best throw of 89.49m at the Lausanne Diamond League 2024, in his first competitive appearance since he bagged silver for the nation at the Paris Olympics 2024.The 26-year-old was edged out by Grenada’s Anderson Peters, who claimed the top spot in Switzerland with a mammoth throw of 90.81m. Julian Weber of Germany came in third on the day with a best throw of 87.08m.The top six javelin throwers in the season’s standings qualify for the final in Belgium slated to be held on the 14th of September.

 

5. Shikhar Dhawan retires from all forms of Cricket: One of the finest One Day Internationals (ODI) batsmen in the world, Shikhar Dhawan has announced his retirement from all forms of cricket. His last competitive match was for Punjab Kings in the Indian Premier League (IPL) in April 2024. Shikhar Dhawan played 269 international matches in his cricketing career and scored 24 hundreds-17 in ODIs and 7 in test matches.His last game for India was an ODI against Bangladesh in December 2022.Shikhar Dhawan, nicknamed ‘Gabbar’ by his teammate, is a left-handed batsman who made his debut for India in an ODI Match against Australia in Visakhapatnam in 2010.He created a world record by scoring the fastest century by a debutant in a Test match, an 85-ball hundred against Australia in Mohali in the 2013 Test match.

 

SCIENCE AND TECHNOLOGY

 

1. India observed first National Space Day on 23 August 2024: India is commemorating its first-ever National Space Day on August 23, 2024, marking a historic achievement with the successful landing of ISRO’s Vikram Lander from Chandrayaan-3 on August 23, 2023.This landmark event signifies India’s growing prowess in space exploration, celebrating the importance of space science and technology. The day is also remembered for Pragyan Rover’s successful deployment and the naming of the landing site as ‘Shiv Shakti’ point.On August 23, 2023, ISRO’s Chandrayaan-3 mission achieved a safe and soft landing of Vikram Lander on the moon’s surface, making India the fourth country to land on the moon and the first to land near its southern polar region. Following this, the Pragyan Rover was successfully deployed. The landing site was named ‘Shiv Shakti’ point, and this date was officially declared as National Space Day.The theme for this year’s National Space Day is “Touching Lives while Touching the Moon: India’s Space Saga.

 

BANKING AND FINANCE

 

2. Bandhan Bank launches Avni Saving Account for Women Customer: Kolkata-based Indian Private sector bank Bandhan Bank has launched an exclusive savings account, Avni, for women customers.The bank launched the product on its 9th foundation day, which is on 23 August.The bank also launched a customer loyalty programme called Bandhan Banks Delight. The bank is women-focused, and of its 3.4 customers,73% are women.With the Avni account, customers receive an exclusive debit card that provides benefits like free airport lounge access, personal accident insurance coverage of ₹10 lakh, lost card liability coverage of ₹3.5 lakh, and special milestone-based offers from premium brands. Avni also offers discounts on annual locker rentals, gold loan processing fees, and beauty and wellness products.

 

 

 

 

Daily GK Update- 23rd Aug, 2024

 NATIONAL UPDATES:

 

1. Manohar Lal Khattar launches 3 Online Platforms to Boost Power Sector Efficiency & Transparency: Union Minister of Power Manohar Lal Khattar has launched three online platforms to enhance the efficiency, transparency, and effectiveness of power sector in New Delhi. The portals are named as Portal for Online Monitoring of Projects – Thermal (PROMPT), Disaster Resilient Infrastructure for Power Sector (DRIPS) and JAL VIDYUT DPR. All these online portals have been developed by the Central Electricity Authority under the Union Ministry of Power. NTPC helped the Central Electricity Authority in developing the PROMPT platform.

 

2. KVIC partners with Department of Posts to accelerate PMEGP unit verification: Khadi and Village Industries Commission (KVIC) has signed a Memorandum of Understanding (MoU) with the Department of Posts, which is part of the Communications Ministry. Under this MoU, the postal department employees will physically verify new units being set up across the country under the Prime Minister Employment Generation Programme (PMEGP).KVIC will also train the postal department employees for physical verification.Through this, KVIC will benefit from the services of 1,65,000 post offices spread across the country, out of which 1,39,067 are working in rural areas.Through this, along with physical verification of PMEGP units, margin money subsidy will also be settled at a faster pace.

 

3. Ola becomes only EV maker to secure PLI certification for four electric scooters: Ola Electric’s S1 X 3 kWh and S1 X 4 kWh scooters have received certification for compliance with the Production Linked Incentive (PLI) Scheme for the automobile and auto components sector.This certification, awarded by the Automotive Research Association of India (ARAI), comes after Ola Electric successfully met the minimum localisation criteria of 50% as mandated by the Ministry of Heavy Industries.The company stands to receive incentives ranging from 13% to 18% of the determined sales value of compliant products for up to five consecutive financial years starting from Fiscal 2024.With this Ola Electric has become the only EV maker to get PLI compliance certification for four products: S1 Air, S1 Pro, and S1 X models in both 3 kWh and 4 kWh versions. The S1 Air received PLI certification earlier at the Auto PLI Conclave held in January 2024.

 

4. JGU to establish India’s First Constitution Museum for 75th Anniversary of Constitution: P. Jindal Global University (JGU) is set to launch India’s first Constitution Museum, marking the 75th anniversary of the adoption of the Constitution of India.The museum, named “The Constitution Academy and The Rights & Freedoms Museum,” will be inaugurated on November 26, 2024, at the JGU campus.The museum aims to “demystify the Constitution and make it accessible to wider audiences.” The museum will feature a Children’s Corner with interactive installations and educational materials designed to introduce young visitors to the Constitution in an engaging manner.The Constitution Academy will feature sections dedicated to different parts of the Constitution and their significance. It will include profiles of Constituent Assembly members, debates, and deliberations that shaped the Constitution. The museum will use various formats, including textual, audio-visual, and experiential, to engage visitors.

 

5. Deepti Gaur Mukherjee assumes charge as MCA Secretary: Deepti Gaur Mukherjee, a 1993 batch IAS officer of Madhya Pradesh cadre, has assumed charge as Secretary to the Ministry of Corporate Affairs (MCA).She has succeeded Manoj Govil, who has assumed charge as the Expenditure Secretary.Prior to this appointment, Mukherjee was the Chief Executive Officer (CEO) of the National Health Authority.She takes over as the top official of MCA at a time when the Ministry is working on a slew of legislations and reforms that may be introduced in the next few months.

 

INTERNATIONAL UPDATES:

 

1. VP Jagdeep Dhankhar inaugurates 19th CII India-Africa Business Conclave: Vice President Jagdeep Dhankhar has inaugurated the 19th CII India Africa Business Conclave in New Delhi.The theme of the 19th CII India Africa Business Conclave is – Creating One Future.The Conclave will explore the role of the India-Africa partnership in regional and global value chain integration.The 19th Conclave will focus on some of the key areas of the India-Africa partnership and emerging opportunities in Agriculture, Food Processing, Defence, Healthcare Pharmaceuticals, Digital Partnership, Power and Energy, Financial Partnership, Infrastructure, Quality Ecosystem, Skill Capacity Development, and others.The first edition of the CII India Africa Business Conclave was held in 2005.

 

2. Sri Lanka announces visa-free access to Indians, nationals from 34 other countries from Oct 31: The Sri Lankan government has announced visa-free access to citizens from 35 countries, including India, the U.K. and the U.S. to the island nation for six months.Countries on the list include India, the U.K., China, the U.S., Germany, the Netherlands, Belgium, Spain, Australia, Denmark, Poland, Kazakhstan, Saudi Arabia, the UAE, Nepal, Indonesia, Russia, and Thailand.Other countries include Malaysia, Japan, France, Canada, the Czech Republic, Italy, Switzerland, Austria, Israel, Belarus, Iran, Sweden, South Korea, Qatar, Oman, Bahrain and New Zealand.Visitors from India, China, Russia, Japan, Malaysia, Thailand, and Indonesia received tourist visas free of charge to Sri Lanka.

 

3. UAE joins BRICS partners for launch of Centre for Industrial Competences: The UAE Ministry of Industry and Advanced Technology joined its BRICS counterparts on the launch of a Centre for Industrial Competences in cooperation with the United Nations Industrial Development Organisation (UNIDO) to support the development of Industrial skills and capabilities.The declaration was made at the 8th BRICS Industry Ministers Meeting, bringing industry, trade and technology ministries together from the UAE, Russia, Brazil, China, Egypt, Ethiopia, India, Iran, and South Africa.The meeting, chaired by Russia, takes place under the theme of “strengthening multilateralism for equitable global development and security”.The centre will promote partnerships within the framework of the New Industrial Revolution (NIR) to identify interests, challenges, and opportunities in the rapidly evolving industrial landscape. In addition, the centre aims to enable industry and the develop industrial skills of its members.

 

4. 21 August – World Senior Citizens Day: World Senior Citizens Day is observed every year on 21 August.This day aims to raise awareness of the issues being faced by older adults like health deterioration and elder abuse.It is also celebrated to acknowledge their contributions towards society.

 

5. 23 August – International Day for the Remembrance of the Slave Trade and its Abolition: International Day for the Remembrance of the Slave Trade and its Abolition is observed annually on August 23.This day raises awareness about the horrifying nature of the slave trade and reminds people about the transatlantic slave trade and its implications.The transatlantic trading patterns were established in the mid-17 century. It involved trading ships from Europe, sailing from Europe with manufactured goods to the west coast of Africa, where the goods would be exchanged for people captured by African traders.More than 480,000 people were enslaved in the British Colonies by the 1790s. Enslaved people were forced to toil on plantations in the Caribbean and the Americas. These plantations produced products such as sugar or tobacco meant for consumption in Europe.

 

OTHER UPDATES:

 

SCIENCE AND TECHNOLOGY

 

1. JNCASR partners with HZL to scale up indigenous Zn-ion battery technologies: Vedanta-owned Hindustan Zinc Ltd., India’s largest integrated zinc producer, has signed an MoU with the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) to collaborate and develop new variants of zinc materials to propel the commercialization of zinc-based batteries.At present, lithium-ion batteries dominate the market but lithium availability, geographic concentration of mineral processing, and safety concerns around combustion issues pose some key challenges to the advancement of sustainable energy solutions.The indigenous development of zinc-based batteries will also help the exchequer save due to the element’s abundance within the country. Some of the widely recognized zinc-based battery chemistries include zinc-manganese, zinc-carbon, nickel-zinc, and zinc-air.The collaboration will focus on the research and development of zinc alloys as anodes for zinc ion and zinc air batteries, developing electrolytes for high-performance zinc alloy anodes, and designing and developing chemical processes for recycling zinc metal-based batteries.

 

 

 

 

BANKING AND FINANCE

 

1. Karnataka Bank unveils credit line on UPI in partnership with Navi Technologies: Karnataka Bank and financial services company Navi Technologies have launched the credit line on UPI, an offering by the National Payments Corporation of India (NPCI).The private sector lender will be offering credit lines through a strategic partnership with Navi, marking Karnataka Bank as one of the early adopters of this next-gen credit product.This is currently offered to a closed group of select users who are pre-qualified for the product, and it will be launched to more users based on customer feedback.The product provides freedom to credit access and is expected to revolutionise how people pay without cards through UPI.

 

2. NPCI launches ‘UPI Circle’ for Secure Payments Among Trusted Users: The National Payments Corporation of India (NPCI) has introduced a new feature called ‘UPI Circle’ on its Unified Payments Interface (UPI) platform.This feature allows primary UPI account holders to securely delegate payment responsibilities to trusted secondary users.Full Delegation: The secondary user is authorised to complete transactions within set limits without further approval.Partial Delegation: The secondary user initiates transactions, but the primary user must authenticate and finalise them using their UPI PIN.

 

AWARDS AND HONOURS

 

1. President Murmu presents Rashtriya Vigyan Puraskar 2024: The President of India, Droupadi Murmu presented the Rashtriya Vigyan Puraskar-2024 at an award ceremony held at GantantraMandap, Rashtrapati Bhavan.In the first edition of the Rashtriya Vigyan Puraskar, 33 awards were presented to distinguished scientists in four categories – Vigyan Ratna, Vigyan Shri, Vigyan Yuva, and Vigyan Team.The Vigyan Ratna Award, given to the scientists who have made lifetime contributions in any field of Science and Technology, was presented to Prof. Govindarajan Padmanabhan, a pioneer of molecular biology and biotechnology research in India.

The Vigyan Shri Awards, given to the scientists who have made distinguished contributions to Science and Technology, were presented to 13 scientists for their path-breaking research in their respective domains.

 

 

Daily GK Update- 22nd Aug, 2024

 NATIONAL UPDATES:

 

1. Reliance Foundation signs MoU with IMD to strengthen weather information: Reliance Foundation has signed an MoU with the India Meteorological Department (IMD) to provide improved weather information and support to climate-affected communities. The main objective of this partnership is to prepare communities to face climate change and weather-related challenges. Under this, research will be done to strengthen weather forecasting and early warning services and discussions will be held with various experts. This effort will increase people’s tolerance towards weather changes.

 

2. Amardeep Singh Bhatia takes charge as Secretary of DPIIT: IAS Amardeep Singh Bhatia has assumed the charge of Secretary of Department for Promotion of Industry and Internal Trade. Bhatia is an Indian Administrative Service Officer of the 1993 Batch from the Nagaland cadre. In Central Government, he has held many important positions in the Ministries of Corporate Affairs and Health & Family Welfare. Ministry of Commerce and Industry vice Rajesh Kumar Singh, IAS consequent upon his appointment as Officer on Special Duty, Department of Defence.

 

3. Salman Khan named brand ambassador for GRM Basmati Rice: GRM Overseas Limited, an exporter of basmati rice and an FMCG player, has signed Bollywood actor Salman Khan as the brand ambassador for its basmati rice and wheat flour products. The partnership aims to leverage Khan’s iconic status to strengthen GRM’s brand presence and connect with consumers globally, the company said. Founded in 1974, GRM Overseas exports premium basmati rice to over 42 countries and has expanded from a rice manufacturing and trading house to a consumer staples organization.

 

4. Amit Shah releases Tarun Chugh’s book ‘Modi’s Governance Triumph: Reshaping India’s Path to Prosperity’: Union Home Minister Amit Shah has released a book written by BJP leader Tarun Chugh which, captures the “transformative” changes brought by the Modi government in a host of sectors and regions, including in the poll-bound Jammu and Kashmir. The book ‘Modi’s Governance Triumph: Reshaping India’s Path to Prosperity’ was “inspired” by the prime minister’s decades-long public life which was always “dedicated” to the country. It examines the broad spectrum of Narendra Modi’s policies, including the ‘Make in India’ campaign designed to boost domestic manufacturing and attract foreign investment. This initiative is analysed alongside the implementation of the Goods and Services Tax (GST).

 

INTERNATIONAL UPDATES:

 

1. India approves additional 251 MW Power Exports from Nepal: India’s Designated Authority for Cross-Border Trade has approved an additional 251 MW of power exports from 12 hydropower projects in Nepal. For the first time, Nepal would be exporting power to Bihar through a medium-term power sales agreement. This takes the total allowed quantum from 690 MW from 16 projects to 941 MW from 28 projects. Even before this 251 MW approval, Nepal had already become a net exporter of electricity and net revenue generator in the last fiscal year selling NPR 16.93 billion worth of electricity. In October 2021, India approved 39 MW of power exports from Nepal to India for the first time. In less than 3 years, this figure has grown by more than 24 times.

Nepal first began its power exports by selling in the Day Ahead Market of the Indian Energy Exchange. Since then, India has also granted access to the Real-Time Market.

 

2. Rajesh Nambiar quits as Cognizant’s India head to become NASSCOM president: Rajesh Nambiar has stepped down as Cognizant Technology Solutions Corp’s India Chairman and Managing Director to become president of information technology (IT) industry body National Association of Software and Service Companies (NASSCOM). Cognizant named Rajesh Varrier as his successor. He will take over as global head of operations from 2 September and as chairman and managing director of the Nasdaq-listed from 1 October. Nambiar, now president-designate at Nasscom, will replace Debjani Ghosh, who has been the industry body’s president since 2018. Ghosh will serve in her position till her tenure ends in November this year.

 

3. 20 August – World Mosquito Day: World Mosquito Day is observed annually on 20 August. Objective – To raise awareness about the persistent threat posed by mosquitoes, which are responsible for spreading some of the deadliest diseases known to humanity. Theme 2024 – Accelerating the fight against malaria for a more equitable world On August 20, 1897, Sir Ronald Ross made a groundbreaking discovery when he found the malaria parasite in the stomach of a female Anopheles mosquito. This discovery revolutionised medical science by providing the first evidence that mosquitoes transmit malaria to humans.

 

4. 20 August – International Day of Remembrance and Tribute to the Victims of Terrorism: International Day of Remembrance and Tribute to the Victims of Terrorism is observed annually on 20 August. The commemoration of this day is of particular importance for the countries of the African continent located along the Sahara-Sahelian Belt, which are on the front line in the global fight against terrorism. The United Nations General Assembly adopted a significant resolution, 72/165, on December 20, 2017, establishing the International Day of Remembrance and Tribute to the Victims of Terrorism. The resounding consensus that endorsed this resolution underscores the global commitment to confronting terrorism and standing by its victims.

The selection of August 21 as the designated date holds special

 

OTHER UPDATES:

DEFENCE

 

1. BEML signs MoU with Indian Navy to develop advanced marine applications for Defence: Bharat Earth Movers Limited (BEML Ltd.), which is into defence and heavy engineering manufacturing, has signed an MoU with the Directorate of Marine Engineering, Indian Navy, for indigenous design, development, manufacture, testing, and product support of critical marine equipment and systems. Aligned with the Government of India’s Aatmanirbhar Bharat initiative, the partnership aims to strengthen self-reliance in defence production and minimise reliance on foreign imports. This initiative is a pivotal step in enhancing bilateral cooperation for indigenous design, development, manufacture, testing and product support of critical Marine Engineering equipment and systems.

 

BANKING AND FINANCE

 

1. Airtel Payments Bank introduces AI-powered Face Match: Airtel Payments Bank has launched the Face Match, a new security feature designed to protect customer accounts from fraudulent activities. The feature uses advanced machine learning algorithms to assess potential threats and activate facial recognition verification when necessary. The Face Match feature works by analysing various factors, including user behaviour, transactions patterns, location data, and device location to verify the user. In case the user activity is inconsistent with their past behaviour and information, the user is asked to verify their identity through a selfie. Upon activation, users receive a notification prompting them to complete a quick verification through the Airtel Thanks app. The selfie is then compared to the photo taken during the account onboarding process using facial recognition technology and liveliness checks. A successful match allows the transaction to proceed.

 

2. IndusInd Holdings gets nod to acquire majority stake in 2 Invesco entities: The Competition Commission of India (CCI) has approved the acquisition of shareholding in each of Invesco Asset Management (India) Private Limited and Invesco Trustee Private Limited by IndusInd International Holdings Limited. The proposed combination pertains to the acquisition of 60% shareholding in each of Invesco Asset Management (India) Private Limited (Invesco AMC) and Invesco Trustee Private Limited (Invesco Trustee) by IndusInd International Holdings Limited (IIHL). IIHL will be holding the investment through its wholly owned and controlled subsidiary, IIHL AMC Holdings Limited (IIHL AMC), which has been incorporated specifically for the Proposed Combination. IIHL is a Global Business License (Category 1) licensee company incorporated in the Republic of Mauritius.

 

3. Net foreign direct investment rises to $6.9 billion in Q1: RBI: Net foreign direct investment (FDI) during the April-June period of the current financial year was $6.9 billion, compared to $4.7 billion in the year-ago period, the latest data released by the Reserve Bank of India showed. The increase was due to an improvement in gross inward FDI, which grew by 26.4 per cent year-on-year (Y-o-Y) to $22.5 billion during Q1 of 2024-25. Manufacturing, financial services, communication services, computer services, electricity and other energy sectors accounted for about 80 per cent of the gross FDI inflows. With around 75 per cent of the flows, the major source countries were Singapore, Mauritius, the Netherlands, the US, and Belgium,” according to RBI’s State of the Economy report. Net FDI flow dropped sharply to $9.8 billion in FY24, from $28 billion in the previous year. In FY22, net FDI flows into the country were $38.6 billion.

 

AWARDS AND HONOURS

 

1. RGIA Hyderabad wins best airport award for third consecutive year: Hyderabad’s Rajiv Gandhi International Airport (RGIA) has once again clinched the prestigious title of Best Airport at the India Travel Awards, marking its third consecutive win. Last year, RGIA was also honored with Skytrax’s ‘Best Airport Staff in India & South Asia 2024’ award in Frankfurt, Germany. The airport received recognition at the Passenger Terminal EXPO 2024 in Frankfurt, Germany for emerging on top among all other airports across South Asia and India. The RGIA team is dedicated to building upon this success and maintaining its position as the Best Airport. Ongoing efforts to improve infrastructure, upgrade facilities, and introduce innovative services will be crucial in sustaining this level of excellence.

 

2. President Murmu presents National Geoscience awards 2023: The President of India, Droupadi Murmu conferred the prestigious National Geoscience Awards (NGA) for the year 2023 at a grand ceremony held at the Rashtrapati Bhavan Cultural Centre New Delhi. This year, a total of 12 awards to 21 Geoscientists, including academicians and professionals from across the country, were honoured under three categories: National Geoscience Award for Lifetime Achievement (01 award), National Geoscience Award (10 awards) and National Young Geoscientist Award (01 award) in various specialized fields of geosciences. Prof Dhiraj Mohan Banerjee received the Lifetime Achievement Award for his pioneering work on phosphorites, isotope geology, and organic geochemistry. Dr Ashutosh Pandey was awarded the National Young Geoscientist Award for his groundbreaking research on the geodynamic evolution of the Eastern Dharwar Craton.