16 July 2024 current affairs

16 July 2024 current affairs

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National news

India Signs MoU with Marshall Islands To Implement 4 Community Development Projects

External Affairs Minister Dr. S Jaishankar today said India and the Marshall Islands share a long history of friendly bilateral relations which has expanded over the years.

  • Delivering a message on the occasion of the MoU signing for the implementation of Four Community Development Projects in the Marshall Islands, Dr. Jaishankar said the islands in the Pacific are not small islands but large ocean countries.
  • He said India considers it a responsibility to support the Pacific Islands in their quest for sustainable development. He added that climate change, natural disasters, poverty alleviation, and healthcare are common challenges that India and the Marshall Islands need to address together.
  • He stated that India is privileged to be a partner of the Pacific Islands in this regard.

Marshall Islands:

  • Capital: Majuro
  • Continent: Oceania
  • Official languages: Marshallese, English
  • President: Incumbent Hilda Heine


Prime Minister Narendra Modi Inaugurates INS Towers in Mumbai

Prime Minister Narendra Modi inaugurated the INS Towers at the Indian Newspaper Society (INS) Secretariat in Mumbai’s Bandra Kurla Complex. This new facility is set to serve as a modern hub for the newspaper industry in Mumbai, addressing the evolving needs of INS members.

Significance of the New Building

The INS Towers represents a significant upgrade for the Indian Newspaper Society, providing:

  • modern and efficient office space in Mumbai
  • nerve center for the newspaper industry in the city

Prime Minister’s Address: Media’s Role in Nation-Building

Historical Perspective and Future Vision

Prime Minister Modi highlighted the INS’s journey:

  • Formed before independence
  • Witness to India’s ups and downs
  • Played a crucial role in communicating India’s story to its people

The Prime Minister emphasized the media’s potential impact on the nation’s future, particularly in the next 25 years as India progresses towards becoming a Viksit Bharat (Developed India).

Media as a Catalyst for Change

Modi stressed that media is not merely an observer but a key player in national development:

  • Creates awareness about citizens’ rights and potential
  • Partnered in successes like digital transactions
  • Plays a natural role in creating discourse on serious issues

Launch of Skill India Digital Hub (SIDH) Portal by Union Minister Jayant Chaudhary

  • Jayant Chaudhary, Union Minister of State (Independent Charge), Ministry of Skill Development and Entrepreneurship (MSDE), launched the Skill India Digital Hub (SIDH) Portal.
  • Objective: Ensure beneficiaries receive complete information about all skill development schemes.

Key Features of SIDH:

  • Digital Public Infrastructure (DPI): Part of the Government of India’s flagship initiative for using digital technologies for skill development.
  • Transparency: Created to ensure transparency and provide comprehensive information on available schemes.
  • Educational and Career Support: Provides industry-relevant education, career prospects, and entrepreneurial support.

Background:

  • Previous Initiative: In September 2023, Dharmendra Pradhan, then Union Minister for Skill Development and Entrepreneurship, launched Skill India Digital (SID), a comprehensive digital platform to transform India’s skills, education, employment, and entrepreneurship landscape.

About MSDE:

  • Minister: Jayant Chaudhary (Rajya Sabha – Uttar Pradesh, UP) (Independent Charge).

PM Narendra Modi Lays Foundation Stones and Dedicates Key Infrastructure Projects in Mumbai

On July, 2024, Narendra Modi, Prime Minister (PM) of India, visited Mumbai, Maharashtra laid the foundation stone and dedicates to nation multiple projects related to the road, railways and ports sector worth more than Rs 29,400 crores.

The projects were initiated during the event held in NESCO Exhibition Centre in Goregaon, Maharashtra.

Thane-Borivali Twin Tunnel Project:

  • Value: Rs 16,600 crore
  • Details: Major infrastructure project to enhance connectivity.

Goregaon-Mulund Link Road (GMLR) Project:

  • Value: Rs 6,300 crore
  • Details: Significant road project to improve transportation.

Kalyan Yard Remodelling and Gati Shakti Multi-Modal Cargo Terminal:

  • Location: Turbhe, Navi Mumbai
  • Details: Enhances railway and cargo handling capabilities.

Mukhyamantri Yuva Karya Prashikshan Yojana:

  • Outlay: Rs 5,600 crore
  • Details: Internship scheme for unemployed youth

Maharashtra:

  • Capital: Mumbai
  • Chief minister: Eknath Shinde
  • Governor: Ramesh Bais


International News

K P Sharma Oli sworn in as Nepal’s Prime Minister for Fourth time

Khadga Prasad Sharma Oli (K P Sharma Oli) was sworn in as the Prime Minister of Nepal for the fourth time by President Ram Chandra Paudel on 15 July 2024 in Kathmandu. KP Sharma Oli will lead a coalition government after the fall of the previous coalition government led by Pushpa Kamal Dahal ‘Prachanda’. 

According to the provisions of the Nepal constitution, the new government has to seek a vote of confidence from the lower house of the Nepalese Parliament within 30 days of being sworn in.

KP Sharma Becomes PM for Fourth Time 

  • This is the fourth time that K P Sharma Oli has become the Prime Minister of Nepal. 
  • He first became the prime minister in October 2015 and remained in power til  August 2016. His second term as the prime minister was from February 2018 to May 2021, and his third was from May 2021 to July 2021.

Parliament of Nepal 

  • Nepal became a republic in April 2008 with the abolition of the monarchy. A new constitution was promulgated in 2015, making Nepal a secular, federal country.
  • Earlier, Nepal was a Hindu country. 
  • Nepal is a parliamentary democracy, and its parliament is called Sanghiya Sansad or Federal Parliament.
  • The Sanghiya Sansad is bicameral, with the Rashtriya Sabha, or National Assembly, being the upper house and Pratinidhi Sabha, or the House of Representatives, being the lower house.
  • The 59-member Rashtriya Sabha is indirectly elected for a term of six years.
  • The 275 members of the House of Representatives are directly elected by the people for a five-year term.

Nepal:

  • Capital: Kathmandu
  • Currency: Nepalese Rupee

Banking News

Jio Financial Services Gets RBI Nod to Become Core Investment Company

Jio Financial Services has received approval from the Reserve Bank of India (RBI) to transition from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC). Following this announcement, the company’s shares saw an increase of over 2% on the NSE.

Stock Market Reaction:

  • Opening Price: ₹354.5 per share on the NSE
  • Intraday High: ₹356.04 per share
  • Current Trading: ₹351 per share
  • Percentage Increase: 0.99% increase in share price

CIC Structure:

  • Responsibilities: Primarily oversees shares and securities of its group companies.
  • Asset Requirements: Must hold at least 90% of net assets in investments like bonds, debentures, equity shares, and loans to group companies.
  • Minimum Asset Size: At least ₹100 crore

Operational Benefits:

  • Capital Allocation: Efficient allocation of capital among subsidiaries.
  • Value Discovery: Improved value discovery for investors.
  • Regulatory Alignment: Better alignment with regulatory frameworks.
  • Operational Flexibility: Greater flexibility to focus on core investment activities and adapt to market conditions.

Jio Financial Service:

  • CEO: Hitesh Kumar Sethia (15 Nov 2023–)
  • Founded: 22 July 1999
  • Founder: Mukesh Ambani
  • Headquarters: Mumbai

Appointment News

Government Appoints Robert J Ravi as New CMD of BSNL

The Indian government has made a significant move in the telecommunications sector by appointing Robert Jerard Ravi as the new Chairman and Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL). This appointment, effective from July 15, 2024, marks a new chapter for the state-run telecom operator.

BSNL: Bharat Sanchar Nigam Limited is an Indian central public sector undertaking under the ownership of Department of Telecommunications, which is part of the Ministry of Communications, Government of India.

Founder: Government of India

Founded: 15 September 2000

Ranks And Reports News

India’s Population to Peak at 1.7 Billion by 2060s Before Declining: UN Report

India’s population is projected to peak at 1.7 billion in the early 2060s before declining by 12%, as predicted by the United Nations’ World Population Prospects 2024 report. Despite the decline, India will remain the world’s most populous country throughout the 21st century.

India’s Population Dynamics:

  • Current Population: 1.45 billion
  • Peak Population: Expected to reach 1.7 billion in the early 2060s
  • Future Decline:Projected to decrease by 12%, reaching around 1.5 billion by 2100
  • Global Ranking: Surpassed China as the world’s most populous nation in 2023 and will retain this status throughout the century

China’s Population Decline:

  • Current Population: 1.41 billion
  • Future Projection: Decline to 1.21 billion by 2054 and further to 633 million by 2100
  • Reason for Decline: Low fertility rate of around one birth per woman

Global Population Trends:

  • Peak Population: Expected to peak at 10.3 billion in the mid-2080s
  • Future Decline: Projected to gradually decline to 10.2 billion by 2100
  • Population Declines: Many countries will experience declines due to low fertility rates


United States and Pakistan:

  • Current Status: United States is currently the third most populous country
  • Future Projection: Pakistan will surpass the United States in population by 2054

Aging Population Trends:

  • Late 2070s: Number of persons aged 65 and older will surpass the number of children under 18
  • Mid-2030s: Number of persons aged 80 and older will exceed the number of infants under age 1

These trends highlight significant demographic shifts, with implications for global economic, social, and political landscapes.

Sports News

Argentina Beats Colombia To Win Copa America Championship 2024

Argentina won their second straight Copa America Championship, after beating Colombia 1-0 early this morning at the Hard Rock Stadium in Miami. Lautaro Martínez scored the winning goal for the defending champions in the second half of extra time, after a brilliant one-touch through ball by Argentinian attacking midfielder Giovani Lo Celso.

  • Championship Win: Argentina defeated Colombia 1-0 at Hard Rock Stadium, Miami.
  • Winning Goal: Lautaro Martínez scored in the second half of extra time, assisted by Giovani Lo Celso.
  • Record Title: This is Argentina’s 16th Copa America title.
  • Golden Boot: Lautaro Martínez won the 2024 Copa America Golden Boot with five goals.
  • Previous Success: Argentina also won the 2022 FIFA World Cup in Qatar.
  • Match Delay: The match started over an hour late due to crowd trouble.
  • Colombia’s Streak: Argentina ended Colombia’s 28-game unbeaten streak.
  • Lionel Messi: Made his 39th Copa America appearance at age 37, scored one goal, and was substituted in the 64th minute due to a non-contact injury.

Copa America Championship General Knowledge

  1. First Edition: The first Copa America was held in 1916 in Argentina.
  2. Most Titles: Uruguay and Argentina are the most successful teams, with Uruguay holding 15 titles and Argentina holding 16 titles as of 2024.
  3. Current Champion: Argentina won the latest edition in 2024.
  4. Top Goalscorer: The all-time top goalscorer in Copa America history is Norberto Méndez of Argentina and Zizinho of Brazil, both with 17 goals.
  5. Golden Boot: Lautaro Martínez won the 2024 Copa America Golden Boot with five goals.
  6. Recent Hosts: The 2024 tournament was held in the United States.
  7. Longest Unbeaten Streak: Colombia’s 28-game unbeaten streak was ended by Argentina in the 2024 final.
  8. Historic Win: Argentina’s recent victory in 2024 was achieved with a 1-0 win over Colombia.
  9. Notable Player: Lionel Messi, who played in the 2024 tournament, made his 39th Copa America appearance at age 37.

India Champions Triumph in World Championship of Legends 2024

In a riveting finale of the World Championship of Legends 2024, India Champions clinched a memorable victory against their arch-rivals Pakistan Champions by five wickets. The match, held at Edgbaston on July 13, 2024, showcased the enduring spirit of cricket and the fierce competition between these two cricketing powerhouses.

An international cricket tournament featuring retired cricket legends.

History:

  • Inception: Established to honor and celebrate the achievements of cricket legends.
  • Frequency: Typically held annually or biennially.

Participants:

  • Eligibility: Open to retired cricketers who have had significant international careers and contributions to the sport.
  • Teams: Often composed of former national team players from various cricketing nations.

Format:

  • Match Types: Includes T20 and One Day International (ODI) formats.
  • Tournament Structure: Can include round-robin stages, followed by knockout rounds and a final.
  • Rules: Generally follows standard cricket rules with some modifications to suit the exhibition nature of the tournament.

Significance:

  • Recognition: Celebrates the careers and contributions of cricket legends.
  • Entertainment: Offers fans a chance to see their favorite retired cricketers in action.
  • Charity: Often associated with charitable events and fundraising activities.

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