27 September 2024 current affairs

27 September 2024 current affairs

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National news

India has become World’s third largest Producer and Consumer of Ethanol: Minister Pralhad Joshi

India has become the world’s third-largest producer and consumer of ethanol, highlighting the country’s significant advancements in biofuel production.

  • Sugar and Bio-Energy Conference: While inaugurating the India Sugar and Bio-Energy conference in New Delhi, Minister Pralhad Joshi emphasized the government’s commitment to a robust and sustainable sugar industry that serves as both an economic foundation and a contributor to India’s renewable energy goals.
  • Sugarcane Cultivation and Production: Over the past decade, sugarcane cultivation in India has increased by 18%, while sugarcane production has surged by 40%. This growth underlines the expanding role of sugarcane in the agricultural sector and its potential for energy production.
  • Support to Farmers: Through the implementation of the Minimum Support Price (MSP) policy, farmer dues have been effectively addressed, transforming farmers from mere food producers (Anna Dattas) to energy contributors (Urja Dattas) in the country’s renewable energy landscape.
  • National Green Hydrogen Mission: Launched last year with an outlay of ₹19,744 crore, this mission aims to position India as a global hub for the production, usage, and export of green hydrogen, further strengthening the country’s renewable energy capabilities

Minister of Consumer Affairs, Food and Public Distribution, 10th Minister of New and Renewable Energy:  Pralhad Venkatesh Joshi (union minister)

Central Government Hikes Minimum Wage Rates, Effective From 1st October

The revised minimum wage rates, adjusted through the Variable Dearness Allowance (VDA), will be effective from 1st October.

Categorization of Wages:

  • Skill Levels: The minimum wage rates are categorized based on skill levels, which include:
    • Unskilled
    • Semi-skilled
    • Skilled and Clerical
    • Highly Skilled
  • Geographical Areas: The wages are further classified based on geographical areas, designated as:
    • Area A
    • Area B
    • Area C

Revised Wage Rates for Area ‘A’:

  • Unskilled Work (Construction, Sweeping, Cleaning, Loading & Unloading): ₹783 per day.
  • Semi-skilled Work: ₹868 per day.
  • Skilled, Clerical, and Watch & Ward (Without Arms): ₹954 per day.
  • Highly Skilled and Watch & Ward (With Arms): ₹1,035 per day.


DRDO signs MoU with IIT Delhi to develop Light Weight Bullet Proof jackets
DRDO signs MoU with IIT Delhi to develop Light Weight Bullet Proof jackets

The Defence Research and Development Organisation (DRDO) has signed a Memorandum of Understanding (MoU) with the Indian Institute of Technology (IIT) Delhi to develop advanced light-weight bulletproof jackets named Advanced Ballistics for High Energy Defeat.

Materials Used: The jackets are made from polymers and indigenous boron carbide ceramic material, providing high-level protection while being lightweight.

Key Features:

  • Highest Threat Level Protection: These bulletproof jackets meet the highest threat levels as per military standards.
  • Lightweight Design: The jackets are designed to be lighter than the maximum weight limits specified in the General Staff Qualitative Requirement (GSQR) of the Indian Army.

Significance: The development represents a successful collaboration between DRDO, academia, and industry, showcasing India’s capability in indigenous defence research and development.

DRDO:

  • Date founded: 1958
  • Headquarters: DRDO Bhavan, New Delhi, India
  • Agency executive: : Sameer V. Kamat, Chairman, DRDO
Launch of ‘Paridhi 24×25’ by Union Minister of Textiles

On September , 2024, Union Minister of Textiles, Shri Giriraj Singh, alongside Union Minister of State for External Affairs & Textiles, Pabitra Margherita, launched the India-specific fashion trend book “Paridhi 24×25,” a bilingual web portal of VisioNxt, and an AI Taxonomy e-book. This significant event attracted over 150 industry leaders from the fashion, textiles, and retail sectors, as well as prominent craftsmen and weavers from various craft clusters. VisioNxt has already produced over 60 micro trend reports, more than 10 close-to-season trend reports, 3 research papers, and the inaugural AI Taxonomy book on Indian wear categories.

 Key Figures:

  • Union Minister of Textiles, Shri Giriraj Singh.
  • Union Minister of State for External Affairs & Textiles, Pabitra Margherita.

Launches:

  • Fashion Trend Book: “Paridhi 24×25,” tailored to Indian fashion.
  • VisioNxt Web Portal: A bilingual platform offering fashion trend insights.
  • AI Taxonomy E-book: Focused on Indian wear categories.

Industry Engagement: The event attracted over 150 leaders from the fashion, textiles, and retail sectors, including craftsmen and weavers.

VisioNxt Objectives:

  • Position India globally in fashion trend prediction.
  • Enhance visibility of Indian fashion vocabulary and identity.
  • Reduce reliance on international trend agencies by providing unique local insights.

Inauguration of NIFT Begusarai Extension Centre:

  • Includes a three-day workshop on tailoring and garment construction.
  • Facilities toured by the Minister included pattern-making and garment construction labs.

MoU with NSDC:

  • A Memorandum of Understanding was signed between NIFT and the National Skill Development Council (NSDC).
  • Emphasis on fostering inclusive growth for marginalized communities and cultivating a skilled workforce for the fashion industry.

Vision for Textile Sector: Shri Giriraj Singh shared aspirations to develop the textile sector as a key contributor to India’s economic superpower goals.

 Union Minister of Textiles: Giriraj Singh 

Central Silk Board Celebrates 75 Years of Advancing India’s Silk Industry

On September , 2024, the Central Silk Board (CSB) celebrated its Platinum Jubilee in Mysuru, marking 75 years of significant contributions to India’s silk industry. This event showcased the board’s dedication to promoting silk production, research, and development in the country.

Key Highlights of the Celebration

  • The occasion was attended by prominent dignitaries, including:
    • Shri Giriraj Singh, Union Minister of Textiles
    • Shri H.D. Kumaraswamy, Union Minister of Heavy Industries and Steel
    • Shri Pabitra Margherita, Minister of State for External Affairs and Minister of State for Textiles
    • Smt. Rachna Shah, Secretary, Ministry of Textiles
    • Shri K. Venkatesh, Minister of Animal Husbandry and Sericulture, Government of Karnataka
  • A number of Members of Parliament, including Shri Iranna B Kalladi, Shri Narayana Koragappa, Dr. K. Sudhakar, and Shri A. G. Lakshminarayana Valmiki, were also in attendance, along with senior officials from the Ministry and CSB.

Significance of the Event

The celebration highlighted the progress made in the silk sector over the years and emphasized the importance of the CSB in enhancing the livelihoods of Seri culturists and promoting silk as a traditional craft in India. Various initiatives aimed at improving silk production, quality, and marketing were likely discussed and launched during this event, underscoring the government’s commitment to furthering the growth of the silk industry.

Kolkata’s Famous Trams Face Discontinuation After 150 Years
Kolkata’s Famous Trams Face Discontinuation After 150 Years

The Kolkata trams, which have operated since the late 19th century, are a testament to the city’s rich transportation history. The Kolkata tram is set to be discontinued soon due to congestion. However, one route will still be operational.

Historical Significance

  • The Kolkata tram system, operational since the late 19th century, is a vital part of the city’s rich transportation history.
  • The first trams, pulled by horses, began service on February 24, 1873, with cars imported from England.
  • Kolkata became the first city in Asia to introduce electric trams in 1902, connecting Esplanade and Kidderpore.
  • The tram system has been a cherished aspect of the city, often referred to as the “lifeline” of Kolkata, and has played an essential role in the daily commute of many residents.

Reason for Discontinuation

  • Despite its historical significance, the West Bengal government has decided to discontinue the tram service due to challenges with increasing vehicular traffic, leading to congestion and difficulty in sharing the road, especially during peak hours.
  • Kolkata remains the only city in India with an operational tram system, making this decision particularly poignant.

Heritage Route

  • One tram route will continue to operate as a joyride: the stretch from Esplanade to Maidan.
  • This route will allow passengers to relive the nostalgia of tram travel while enjoying beautiful views, including the Victoria Memorial and the expansive greenery of the Maidan.
  • The picturesque scenery along this route is enhanced by children playing cricket and football, adding to the charm and serenity of the experience.

Kolkata:

  • Capital: Kolkata
  • Chief minister: Mamata Banerjee
  • Governor: C. V. Ananda Bose

Economy news

Moody’s Upgrades India’s Economic Growth Forecast to 7.1% for CY 2024
Moody’s Upgrades India’s Economic Growth Forecast to 7.1% for CY 2024

Moody’s has revised its forecast for India’s GDP growth in calendar year (CY) 2024, increasing it to 7.1% from the previous projection of 6.8% made in June. This adjustment underscores India’s significant role in propelling growth in the Asia-Pacific region, which is anticipated to outpace global economies in the upcoming years. Other major global institutions, including the World Bank and the International Monetary Fund (IMF), have also updated their projections, indicating growing confidence in India’s economic momentum despite potential global challenges.

Recent Global Forecasts

  • World Bank: Adjusted India’s fiscal year 2025 (FY25) growth forecast to 7%, highlighting factors such as:
  • Increased government infrastructure spending.
  • Rising real estate investments.
  • Favorable monsoon conditions.
  • Strong private consumption.
  • IMF: Increased India’s GDP growth forecast for FY25 by 20 basis points to 7%.

India’s Growth Performance and Outlook

  • In FY24, India’s economy grew at 8.2%, driven by:
  • Strong domestic demand.
  • Increased investments.
  • A robust services sector.
  • However, growth slowed to 6.7% in Q1 FY25, primarily due to:
  • Reduced government expenditure.
  • Uneven monsoon impacts.
  • Experts anticipate a rebound in growth in the following quarters, with the Reserve Bank of India (RBI) forecasting a 7.2% growth rate for FY25.

Banking news

Axis Bank and Mastercard Launch MyBiz Credit Card for Small Business Owners
Axis Bank and Mastercard Launch MyBiz Credit Card for Small Business Owners

Axis Bank has partnered with Mastercard to launch the MyBiz credit card, specifically designed for sole proprietors and small business owners.

Card Type: The MyBiz card is a premium World Mastercard®, offering a range of business and travel benefits tailored for small and medium-sized enterprises (SMEs).

Key Features:

  • Airport Lounge Access: Cardholders can enjoy access to airport lounges.
  • Travel Insurance: Comprehensive coverage for travel-related incidents.
  • Business Services: A suite of services to enhance productivity, marketing, online readiness, security, and compliance, including Mastercard Easy Savings Specials.
  • Exclusive Experiences: Access to curated experiences via priceless.com, covering areas like culinary arts, wellness, and sports.

Enhanced User Experience:

  • Vivek Gupta, President & Head of Wholesale Banking Products at Axis Bank, highlighted that the MyBiz card simplifies the experience for small business clients with:
    • Increased rewards
    • Greater purchasing power
    • Zero liability protection
    • Enhanced employee controls

 Innovative Approach:

  • Anubhav Gupta, Senior Vice President of Business Development at Mastercard, emphasized the rising trend of entrepreneurship in India and the commitment to developing innovative financial products for business owners.
  • The collaboration aims to set a new benchmark in the business credit card segment by combining Axis Bank’s market insights with Mastercard’s global payments expertise.

Axis bank:

  • Headquarters: Mumbai
  • CEO: Amitabh Chaudhry (1 Jan 2019–)
  • Founded: 3 December 1993, Ahmedabad


Bank of Baroda and EaseMyTrip Launch Co-Branded Travel Debit Card
  • Bank of Baroda, in collaboration with EaseMyTrip.com, has launched the Bank of Baroda EaseMyTrip Co-branded Travel Debit Card. This marks the first co-branded travel debit card by a public sector bank in India.
  • Target Audience: The card is designed for frequent travelers and individuals interested in entertainment and lifestyle options.

Enhanced Travel Experience

  • The debit card offers a range of attractive features that provide substantial benefits to users, including:
    • Discounts on Travel and Hotel Bookings: Significant savings on travel expenses.
    • Complimentary Annual OTT Memberships: Access to streaming platforms at no additional cost.
    • E-commerce Vouchers: Discounts for popular e-commerce sites, enhancing the shopping experience.
    • No Minimum Order Value: Cardholders can enjoy travel booking perks year-round without waiting for specific discount days.

Key Features of the Debit Card

  • Discounts on Travel Bookings: Enhanced savings for users on various travel-related services.
  • Airport Lounge Access: Comfort and convenience while traveling.
  • OTT Streaming Subscriptions: Access to popular streaming services for entertainment.
  • E-commerce Vouchers: Additional savings on online shopping.
  • Air Insurance Coverage: Financial protection for travelers in case of unforeseen events.
  • Concierge Services: Personalized assistance for a seamless travel experience.

Bank of baroda:

  • Headquarters: Alkapuri, Vadodara
  • Founder: Sayajirao Gaekwad III
  • Founded: 20 July 1908, Vadodara

Appointment news

Centre Notifies Appointment Of Chief Justices Of 8 High Courts

The Central Government, through the Ministry of Law and Justice, has notified the appointment of Chief Justices to eight High Courts in India to ensure effective judicial functioning across various states. Union Law Minister Arjun Ram Meghwal announced these appointments.

Background

  • The Supreme Court Collegium made its initial recommendations for these appointments on July 11, 2023. However, it revised some recommendations on September 17, 2023, particularly regarding four High Courts.

New Appointments

  1. Justice Manmohan – Chief Justice of Delhi High Court (currently Acting CJ).
  2. Justice Rajiv Shakdher – Chief Justice of Himachal Pradesh High Court (currently Judge of Delhi HC).
  3. Justice Suresh Kumar Kait – Chief Justice of Madhya Pradesh High Court (currently Judge of Delhi HC).
  4. Justice Indra Prasanna Mukerji – Chief Justice of Meghalaya High Court (currently Judge of Calcutta HC).
  5. Justice Nitin Madhukar Jamdar – Chief Justice of Kerala High Court (currently Judge of Bombay HC).
  6. Justice Tashi Rabstan – Chief Justice of Jammu & Kashmir & Ladakh High Court (currently Judge of J&K&L HC).
  7. Justice KR Shriram – Chief Justice of Madras High Court (currently Judge of Bombay HC).
  8. Justice MS Ramachandra Rao – Chief Justice of Jharkhand High Court (currently CJ of HP HC).

Appointment Process

  • Collegium System:
  • The Collegium system governs the appointment and transfer of judges in the Supreme and High Courts. It evolved through Supreme Court judgments and is not explicitly mentioned in the Constitution.
  • Supreme Court Panel: Comprised of the Chief Justice of India (CJI) and the four senior-most Supreme Court judges, who recommend appointments and transfers.
  • High Court Panel: Led by the Chief Justice of the High Court and includes the two senior-most judges of that court.
  • Government Role:
  • The government can raise objections to the Collegium’s recommendations, but if the Collegium stands firm on its choices, the government must proceed with the appointments.

Constitutional Basis

  • Article 217 of the Constitution states that the President appoints High Court judges in consultation with the CJI and the Governor of the State.
    • The Chief Justice of the High Court is involved in the selection process for other judges.
    • The Chief Justice of the High Court proposes appointments in consultation with two senior-most colleagues and sends the recommendation through the Chief Minister to the Governor and then to the Union Law Minister.

Minister responsible: Arjun Ram Meghwal, Minister of Law and Justice (Independent Charge)

Ranks and reports news

India Rises to 39th Place in Global Innovation Index 2024 Among 133 Economies
India Rises to 39th Place in Global Innovation Index 2024 Among 133 Economies

India has improved its position to 39th place among 133 global economies in the Global Innovation Index (GII) 2024.

Regional and Economic Rankings:

  • 1st in Central and Southern Asia: India ranks first among the 10 economies in this region.
  • 1st among Lower-Middle-Income Economies: Leading in innovation within its economic group.
  • 4th in WIPO Science & Technology (S&T) Cluster Ranking.

Top Innovation Clusters: Indian cities such as Mumbai, Delhi, Bengaluru, and Chennai are among the World’s Top 100 Science & Technology clusters.

Intangible Asset Intensity: India ranks 7th globally, highlighting the country’s strong focus on intangible assets like patents and trademarks.

Progress Since 2015: India’s significant rise from 81st place in 2015 to 39th in 2024 reflects its growing innovation ecosystem.

Global Leaders in Innovation: The top innovative economies are Switzerland, Sweden, the US, Singapore, and the UK, with India being one of the fastest climbers along with China, Turkey, Vietnam, and the Philippines.

About the GII: Initiated in 2007 by INSEAD and World Business magazine, the GII evaluates the innovation ecosystem performance of 133 economies and tracks global innovation trends. It serves as a valuable tool for governments to assess innovation-driven social and economic changes.

Sports news

Kamal Chawla clinches Gold in IBSF World 6 Red Snooker Championship

In snooker, Indian veteran Kamal Chawla has clinched his maiden IBSF World 6-Red title with a commanding 6-2 victory over Pakistan’s Asjad Iqbal in the final at Ulaanbaatar, Mongolia. This triumph marks a significant turnaround for Chawla, who was the runner-up in the 2017 edition of the tournament.

 India also won three more bronze medals through Malkeet Singh, Vidya Pillai, and Keerthana Pandian. In the women’s category, India’s Vidya was unable to defend her title, finishing with a bronze medal after a hard-fought semifinal loss to Hong Kong’s Ng On Yee, with the scoreline at 2-4.

Rishab Pant clinches 6th position among top 10 Test batting rankings

India’s wicketkeeper-batsman Rishabh Pant has re-entered the top 10 Test batting rankings, cementing his return to form after a long gap. Pant’s standout performance in the second innings of India’s victory over Bangladesh in Chennai propelled him to sixth place in the Test batting rankings, earning him 731 rating points.

The wicketkeeper batter joined compatriot Yashasvi Jaiswal, who is in fifth place with 751 points, after his own half-century in the same match. Meanwhile, Indian captain Rohit Sharma remains in the top 10 despite slipping five places, now sitting at tenth with 716 points after a disappointing outing with scores of under 10 in both innings against Bangladesh.

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