10 July 2024 Current Affairs

10 July 2024 Current Affairs

DAILY-CURRENT-AFFAIRS-BY-EDUSPRINT

National News

CJI Chandrachud Emphasizes Balance in Stock Markets and Strengthening of Tribunals
  • CJI D Y Chandrachud stressed the need for regulatory authorities to maintain balance and caution amid soaring stock markets. Inauguration of SAT Office: CJI inaugurated the new office of the Securities Appellate Tribunal (SAT) in Mumbai.
  • Celebrating Success with Caution: He urged SEBI and SAT to celebrate market successes while being cautious.
  • Need for More Tribunal Benches: He advocated for additional tribunal benches to handle increased workloads and ensure stability.
  • Investor Confidence: Highlighted the importance of protected investments and effective dispute resolution mechanisms for investor confidence.
  • Filling SAT Vacancies: Emphasized the urgency of filling vacancies at SAT for effective functioning.
  • New SAT Website: Launched a new website for the Securities Appellate Tribunal.
  • Robust Infrastructure: Called for robust physical and virtual infrastructure in courts and tribunals for speedy justice delivery.
Union Minister G. Kishan Reddy Addresses 73rd Meeting Of Indian Pharmaceutical Congress; Says, Support Of Pharma Industry Is Essential For Achieving Viksit Bharat Goals

Union Coal and Mines Minister G. Kishan Reddy emphasized the pharma industry’s role in achieving Viksit Bharat goals at the 73rd Indian Pharmaceutical Congress in Hyderabad.

  • Economic Ambitions: India aims to become a 5 trillion-dollar economy and the third-largest economy by 2027.
  • Pharma Exports: Pharmaceutical products are the fifth largest commodity in Indian exports, with exports worth ₹1.83 lakh crore last year.
  • Quality and Innovation: Indian pharmaceutical products are renowned for their quality, including the development and distribution of COVID-19 vaccines globally.
President Droupadi Murmu To Visit The Historic Udayagiri Caves In Bhubaneswar

President Droupadi Murmu visited the historic Udayagiri caves in Bhubaneswar, known for the Hathigumpha inscription detailing military campaigns by Kharavela.

  • Interaction with Students: She interacted with students from Bibhuti Kanungo College of Art and Crafts and Utkal University of Culture.
  • Inauguration and Campaign Launch: Inaugurated the Divine Retreat Centre of Brahma Kumari at Haridamada village and launched the ‘Lifestyle for Sustainability’ campaign.
  • Attendance at Rath Yatra: Previously attended the world-famous Rath Yatra of Lord Jagannath, Lord Balabhadra, Devi Subhadra, and Lord Sudarshan in Puri.
India Approves Signing of High Seas Treaty for Marine Conservation
  • On July 2024, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the signing of the Biodiversity Beyond National Jurisdiction (BBNJ) Agreement or ‘High Seas Treaty’.
  • Implementation Lead: The Ministry of Earth Sciences (MoES) will lead India’s implementation of the agreement, enhancing marine conservation and strategic presence beyond India’s Exclusive Economic Zone (EEZ).
  • Key Attendees: The Cabinet meeting included Dr. Jitendra Singh, MoS (Independent Charge) for MoES, and Dr. M. Ravichandran, Secretary of MoES.
  • BBNJ Agreement: The treaty, agreed upon in March 2023, is open for signature for two years from September 2023 and will become legally binding 120 days after the 60th ratification.
  • Current Status: As of June 2024, 91 countries have signed the BBNJ Agreement, with 8 countries (Belize, Chile, Cuba, Mauritius, Micronesia, Monaco, Palau, and Seychelles) having ratified it.
FSSAI Approves Bold Nutritional Labeling for Packaged Food

On July, 2024, FSSAI approved a proposal to display nutritional information in bold letters and increased font size on packaged food.

  • Amendment Details: The amendment to the Food Safety and Standards (FSS) (Labelling and Display) Regulations, 2020, was approved during the 44th meeting of the Food Authority chaired by FSSAI Chairperson Apurva Chandra.
  • Nutritional Information: The labels will show per-serve percentage contributions to the Recommended Dietary Allowances (RDAs) for total sugar, saturated fat, and sodium in bold letters.
  • Implementation Timeline: Food Business Operators (FBOs) must exhaust all existing pre-printed packaging materials before September 1, 2024.
  • Health Impact: The amendment aims to help consumers understand the nutritional value of products and make healthier choices, as specified in Regulation 2(v) and 5(3) of the FSS (Labelling and Display) Regulations, 2020.

About the Food Safety and Standards Authority of India (FSSAI):

FSSAI has been established under the Food Safety and Standards, 2006. The Ministry of Health & Family Welfare (MoH&FW), Government of India (GoI) is the Administrative Ministry for the implementation of FSSAI.

  • Chief Executive Officer (CEO)- Ganji Kamala Vardhana Rao
  • Headquarters- New Delhi, Delhi
Tata Asset Management Launches India’s 1st Tourism Index Fund

Tata Asset Management Private Limited (TAMPL) launched India’s first tourism index fund, the Tata Nifty India Tourism Index Fund, on 8th July 2024.

New Fund Offer (NFO):

  • Subscription Period: 8th July to 19th July 2024.
  • Reopening for Sale and Repurchase: On or before 29th July 2024.

Fund Management: The fund will be managed by Kapil Menon, Fund Manager-Equities at TAMPL.

Objective: The fund aims to provide returns that correspond to the total returns of the securities represented by the Tata Nifty India Tourism Total Return Index (TRI), subject to tracking error.

Fund Structure:

  • Type: Open-ended index fund.
  • Index: Monitors the Nifty India Tourism Index.
  • Composition: As of 21st June 2024, the index consists of 17 companies operational in the tourism sector, with a maximum stock level capping limit of 20% in the index.
  • Capacity: The index can hold a maximum of 30 companies chosen from the broader Nifty 500 index.

Tata Asset Management Private Limited (TAMPL):

  • Chairman- Rajiv Sabharwal
  • Headquarter- Mumbai, Maharashtra
  • Established 1994
Rajasthan to Implement 10-Year Road Safety Action Plan:

Rajasthan is set to become the first state in India to adopt a 10-year action plan for road safety, with the goal of reducing road accidents by 50% by 2030.

World Bank Assistance: The World Bank will assist the state government in preparing the action plan and safety plan, incorporating best practices from around the world.

Implementation Phases:

Phase 1 (2025-2027):

  • Focus: Safety audits of 500 kilometers of state highways and major district roads.
  • Objectives: Institutional strengthening, capacity building, and timely completion of short-term targets within the action plan.

Long-term Goals: The comprehensive action plan aims to enhance road safety, reduce fatalities, and improve overall traffic management across Rajasthan over the next decade.

About Rajasthan:

  • Chief Minister (CM) – Bajan Lal Sharma
  • Deputy CMs– Diya Kumari and Prem Chand Bairwa
  • Governor- Kalraj Mishra
  • National Parks (NPs)- Ranthambore National Park and Keoladeo National Park

International news

India, Russia Set Target Of 100 Bn Dollars Trade By 2030 During 22nd Annual Summit In Moscow

India and Russia aim to achieve a trade target of $100 billion by 2030, with agreements signed in nine fields including environment, climate change, cartography, polar research, investment, trade, and pharma.

  • Broadcasting MoU: Signed MoU between Prasar Bharati and TV Novosti for cooperation in broadcasting.
  • Political and Economic Cooperation: Discussions focused on enhancing economic engagement covering trade, capital linkages, energy, science and technology, defence, and security.
  • Humanitarian Concerns: Prime Minister raised concerns about Indian nationals in the Russian army, with Russia promising early discharge.
  • Chennai-Vladivostok Eastern Corridor: Leaders discussed the proposed corridor to enhance economic connectivity between India and Russia, emphasizing sectors like fertilizer supply and agriculture.
  • India-Eurasian Economic Union: Emphasis on advancing the India-Eurasian Economic Union trade and Goods Agreement for mutual benefits.

Russia:

  • Capital: Moscow
  • Currency: Russian Ruble
  • Prime minister: Mikhail Mishustin

Appointment news

Dr. Soumya Swaminathan Appointed As Principal Advisor At Ministry Of Health & Family Welfare For National Tuberculosis Elimination Programme

Dr. Soumya Swaminathan appointed as Principal Advisor at the Union Ministry of Health and Family Welfare for the National Tuberculosis Elimination Programme on a pro bono basis.

  • Role and Responsibilities: She will provide technical advice on strategy, suggest policy directions, and advise on necessary course corrections for optimal outcomes.
  • Research and Expert Groups: Will guide research strategy and assist in forming expert groups with global talent.
  • Programme Assessment: Support Union Health Ministry, state officials, and development partners in assessing the programme’s impact.
  • Professional Background: Former Chief Scientist of WHO and former Director General of the Indian Council of Medical Research (ICMR).

Ministry of health and family welfare: Officeholder: J. P. Nadda

RBI Approves Reappointment of Govind Singh as MD & CEO of Utkarsh Small Finance Bank

On July 8, 2024, the Reserve Bank of India (RBI) approved the reappointment of Govind Singh as Managing Director (MD) and Chief Executive Officer (CEO) of Utkarsh Small Finance Bank Limited (USFBL) for three years, effective from September 21, 2024.

Current Term End: September 20, 2024.

Board Approval: The Board of USFBL approved his reappointment on January 27, 2024.

About Utkarsh Small Finance Bank Limited (USFBL):

  • USFBL was incorporated on 30th April 2016 and received banking license from RBI in November 2016. The bank operations on January 23, 2017
  • MD & CEO – Govind Singh
  • Headquarters – Varanasi, Uttar Pradesh (UP)


Banking news

EXIM Bank Signs Agreement with Guyana for Solar PV Power Plant

The Export-Import Bank of India (EXIM Bank) signed an agreement with the Government of Guyana to provide a Line of Credit (LoC) of USD 2.50 million for installing a solar photovoltaic (PV) power plant at Cheddi Jagan International Airport (CJIA) in Timehri, Guyana.

  1. Effective Date: The agreement was signed on February 29, 2024, and became effective on June 24, 2024.
  2. Renewable Energy Transition: The agreement supports Guyana’s efforts to transition from fossil fuels to renewable energy, aiming to reduce carbon emissions and promote sustainable energy solutions.
  3. Credit Allocation:
    • At least 75% of goods, works, and services must be sourced from India.
    • Up to 25% can be sourced from outside India (foreign sourcing).
  4. Disbursement Timeline: The last date for disbursements is 48 months after the project’s completion.
  5. Export Eligibility: Exports of eligible goods and services from India, financed under the agreement with EXIM Bank, must meet the criteria specified in the Indian Government’s Foreign Trade Policy.

About Export-Import Bank of India (EXIM Bank):

  • Managing Director– Harsha Bangari
  • Headquarters- Mumbai, Maharashtra
  • Establishment- 1982
  • About Co-operative Republic of Guyana: President- Irfaan Ali
  • Currency- Guyanese dollar (GYD)
  • Capital- Georgetown

Summit News

India Hosts 6th EAS Conference on Maritime Security Cooperation in Mumbai

The 6th East Asia Summit (EAS) Conference on Maritime Security Cooperation was held in Mumbai, Maharashtra from July 4-5, 2024.

  1. Organizers: The conference was organized by the Ministry of External Affairs (MEA), Government of India, in partnership with the Governments of Australia and Indonesia.
  2. Collaborators: The ASEAN-India Centre (AIC) at Research and Information System for Developing Countries (RIS) and the National Maritime Foundation (NMF) served as Knowledge Partners for the conference.
  3. India’s Commitment: The conference showcased India’s dedication to strengthening ASEAN-led EAS mechanisms and supporting the EAS Plan of Action 2024-2028.
  4. Thematic Sessions: The conference featured six thematic sessions focusing on:
    • Indo-Pacific Oceans Initiative (IPOI) and ASEAN Outlook on the Indo-Pacific (AOIP)
    • Regional Maritime Domain Awareness
    • Combating illicit maritime activity, anti-piracy, and Illegal, Unreported and Unregulated (IUU) fishing
    • Maritime Connectivity
    • Humanitarian Assistance and Disaster Relief (HADR) and Search and Rescue (SAR).


Sports news

Jasprit Bumrah and Smriti Mandhana Named ICC Players of the Month for June 2024

Jasprit Bumrah was named ICC Men’s Player of the Month for June 2024. World Cup Performance: Bumrah took 15 wickets in 8 matches, earning Player of the Tournament in the ICC T20 World Cup.

  • Women’s Player of the Month: Smriti Mandhana was named ICC Women’s Player of the Month for June 2024.
  • Batting Excellence: Mandhana was recognized for her outstanding batting performance against South Africa.
  • Other Nominees: Mandhana beat out England’s Maia Bouchier and Sri Lanka’s Vishmi Gunaratne for the title.

Gautam Gambhir Appointed As Indian Men’s Cricket Team Head Coach

  • The Board of Control for Cricket in India (BCCI) has appointed former batter and World Cup winner Gautam Gambhir as the new head coach of the senior men’s team.
  • BCCI secretary Jay Shah made this announcement through a social media post today. Mr Gambhir replaced Rahul Dravid as head coach.
Gagan Narang to be Indian team Chef-de Mission in Paris Olympics

The Indian Olympic Association (IOA) has appointed 2012 London Olympics bronze medallist shooter Gagan Narang as the Chef-de-Mission of the Indian team for the 2024 Paris Summer Olympics, replacing Mary Kom. Ace Badminton player PV Sindhu was also appointed as the co-flag bearer along with table tennis player Sharath Kamal. 

The appointment of Gagan Narang and PV Sindhu was announced by the Indian Olympic Association (IOA) president PT Usha on 8 July 2024.

Gagan Narang replaces Mary Kom as Chef-de-Mission 

  • In March 2024, the Indian Olympic Association appointed 2012 London Olympic Games bronze medalist Mary Kom as the Chef- de-Mission for the Indian contingent at the Paris Olympic Games 2024.
  • At that time, Gagan Narang was given the responsibility of overseeing India’s operations at the shooting range for the Indian shooting contingent.
  • Later on, Mary Kom declined to accept the post due to certain personal reasons
  • Shiva Keshavan will remain the deputy Chef -de- Mission.

Role of the Chef -de-Mission 

Chef de Mission, in French, means ‘head of mission’. The Chef de Mission is an important administrative post for any national contingent taking part in an international multidisciplinary sporting event. The Chef de Mission is the spokesperson of the entire team during the Olympic Games. They are also mentors, supporters, and cheerleaders who aim to motivate and inspire the team while protecting the athletes’ performances.

PV Sindhu appointed as the co-flag bearer of the Indian contingent
  • The Indian Olympic Association also appointed two-time Olympic medallist badminton player PV Sindhu as the co-flag bearer of the India contingent along with the 13-time Commonwealth Games medallist table tennis veteran Sharath Kamal.
  • Earlier, the Indian Olympic Association had appointed only Sharath Kamal as the flag bearer of the Indian contingent for the Paris Olympics.  
  • In 2020, the International Olympic Committee (IOC) allowed one male and one female athlete to hold the flag of their nation during the opening ceremony of the Olympics. 
  • At the 2020 Tokyo Summer Olympics, Mary Kom and Hockey team captain Manpreet Singh were India’s flag-bearers.
  • This will be the second time a male and female athlete will jointly be the flag bearer at a Summer Olympics.

Flag bearer at the Olympic Games

In every multinational/continental game, the flag bearer is the first person to lead his country’s contingent, comprised of athletes, supporting staff, and other officials, during the opening ceremony and parade of the games. The flag bearer is usually a distinguished player of the country.

The parade is held at the game’s opening and closing ceremonies. Thus, the same person or a different person can be appointed flag bearer for these ceremonies.

Indian flag bearer at Summer Olympics 

  • Athlete Purma Banerjee was the first Indian to carry the Indian flag at the Summer Olympics at the 1920 Antwerp Olympics. 
  • Shiny Wilson became the first woman to be an Indian Flag bearer at the Barcelona Olympics in 1992.
  • Mary Kom and Manpreet Singh were jointly the Indian flag bearers at the 2020 Tokyo Olympics.

2024 Paris Summer Olympics  

  • The 33rd Summer Olympics will be hosted by the French capital city of Paris from 26 July to 11 August 2024.
  • Paris will be hosting the Summer Olympics for the third time after 1900 and 1924.
  • Around 10,500 athletes from 206 National Olympic committees are expected to participate in the Paris Olympics in 2024.

Four new sports have been introduced in the Paris Olympics 2024: Breaking, Surfing, Sport Climbing, and Skateboarding.

Tasnim Mir & Mannepalli won singles title at 2024 BWF Reunion Open
  • Women’s Singles: Tasnim Mir from Gujarat clinched the title by defeating Rakshitha Sree of India in straight sets 21-15, 21-19, marking her third challenger title and first since 2022.
  • Men’s Singles: Tharun Mannepalli of Telangana emerged victorious, defeating Japan’s Yudai Okimoto in straight sets 21-15, 21-15, securing his second international title after the Kazakhstan International Challenge earlier in 2024.
  • Men’s Doubles: Indian pair Prakash Raj and Gouse Malik settled for silver, losing to French duo Julien Maio and William Villeger in straight sets 9-21, 14-21 in the final.
  • Event Details: The 3rd Saint-Denis Reunion Open 2024, a BWF Grade 3 tournament with a USD 25,000 prize, took place from July 3 to 7 at Gymnase Champ Fleuri in Saint-Denis, Réunion, organized as part of the Badminton Confederation Africa tour.

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