National news
Tata Power Launches ‘Ghar Ghar Solar’ Initiative in Uttar Pradesh
Tata Power Solar Systems Limited has launched the ‘Ghar Ghar Solar’ initiative in Uttar Pradesh, starting from Varanasi, aimed at providing every home with clean energy through rooftop solar solutions. This initiative promises substantial financial savings and environmental benefits for residents.
- Objective: Provide clean energy through rooftop solar solutions to every home.
- Financial Savings: Potential savings up to INR 27,000 annually on electricity bills with a 3 kW system.
- Environmental Benefits: Significant reduction in carbon footprint with renewable energy.
- Subsidies: Up to Rs. 1,08,000 in combined Central and State Government subsidies.
- Technology: Advanced bifacial modules for higher efficiency and durability.
- Flexible Financing: Multiple financing options available.
- Net Metering: Additional savings by feeding excess electricity back into the grid.
- Application Process: Apply via the UP government’s renewable energy website, complete the RTS application, submit documents, await approval and inspection, and schedule installation with Tata Power Solar.
India to Host 28th Malabar Naval Exercise with Quad Allies Amid China Tensions
India is gearing up to host the prestigious Malabar naval exercise alongside the United States, Japan, and Australia in the Bay of Bengal this October. This comes amidst escalating regional tensions fueled by China’s assertive actions in the South China Sea and its expanding footprint across the Indian Ocean Region (IOR). The 28th edition of the exercise will focus on advanced anti-submarine warfare and aims to enhance military interoperability among the four countries.
- Participants: India, US, Japan, and Australia.
- Focus: Advanced anti-submarine warfare and military interoperability.
- Tactical Scenarios: Drills in surface warfare, anti-aircraft operations, and anti-submarine warfare.
- Historical Evolution: Started in 1992 as India-US bilateral exercise, now includes Japan and Australia.
- Strategic Importance: Ensuring regional stability and safeguarding maritime trade routes amidst rising China tensions.
MoMA Now Nodal Ministry for Haj Committee of India
The Ministry of Minority Affairs (MoMA), led by Union Minister Kiren Rijiju, has been designated the nodal ministry for the Haj Committee of India (HCOI), a statutory body that organises the Haj pilgrimage for Indian pilgrims. This designation shifts the responsibility from the Ministry of External Affairs (MEA) to the MoMA. Previously, the MEA managed the Haj pilgrimage, including the administration of the Haj Committee Act of 2002.
- New Rules: Haj Committee (Amendment) Rules, 2024
- Responsibilities Shift: From MEA to MoMA for Haj pilgrimage organization
Coordination with Other Ministries:
- Nominations Requested From:
- Ministry of External Affairs
- Ministry of Home Affairs
- Ministry of Finance
- Ministry of Civil Aviation
- Nominee Requirement: Officers not below the rank of Joint Secretary as ex-officio members of the Haj Committee
Haj Committee of India (HCOI):
- Act: Set up under the Haj Committee Act of 2002
- Nature: Corporate body with perpetual succession
- Current Chairman: A. P. Abdullakutty (since 2022)
About the Ministry of Minority Affairs (MoMA):
- Union Minister– Kiren Rijiju (Constituency: Arunachal West)
- Minister of State (MOS)- George Kurian (Constituency: Kerala)
Gati Shakti Vishwavidyalaya Signs Agreement with Airbus to Enhance Aerospace Education
The Indian Railways’ Gati Shakti Vishwavidyalaya (GSV) Vadodara (Gujarat) has signed a definitive agreement with Airbus, an European multinational aerospace cooperation to advance aerospace education and research in India.
Signatories: The agreement was signed by Rémi Maillard, President and Managing Director (MD) of Airbus India and South Asia, and Professor Manoj Choudhary, Vice- Chancellor of GSV at Rail Bhawan, New Delhi, Delhi.
- Key People Present:
- Ashwini Vaishnaw, Railway Minister & First Chancellor of GSV
- Kinjarapu Rammohan Naidu, Union Minister of Civil Aviation
- Ravneet Singh, Minister of State for Railways
- Jaya Varma Sinha, Chairman & CEO, Railway Board
- Vumlunmang Vualnam, Secretary, Ministry of Civil Aviation
Key Points:
- Scholarships: 40 GSV students to receive full scholarships
- New Initiatives: Establishment of Centre of Excellence at GSV and Airbus Aviation Chair Professor position
- Collaboration: Executive training programs for aviation professionals
About Gati Shakti Vishwavidyalaya (GSV):
- Formerly: National Rail and Transportation Institute (NRTI)
- Establishment: Central University status in 2022
- Founded: 2018
- Location: Vadodara, Gujarat
- Chancellor: Ashwini Vaishnaw
Banking news
ICICI Lombard’s AI-Powered ‘Elevate’ Health Insurance:
ICICI Lombard, a leading private general insurer in India, has launched ‘Elevate’, a pioneering health insurance product integrating AI technology. This innovative offering is designed to meet the diverse needs of modern lifestyles and unforeseen medical emergencies, emphasizing personalized solutions and comprehensive coverage.
- Coverage: Infinite sum insured and claim amounts, ensuring no coverage limitations.
- Financial Protection: Unlimited financial protection for single claims during the policy’s lifetime.
- Power Booster Add-on: 100% cumulative annual bonus regardless of claims made.
- Reset Benefit: Unlimited resets of coverage for continuous protection.
- Infinite Assurance: Immediate benefits for pre-existing conditions after 30 days.
- Personalized Coverage: AI-driven recommendations for tailored coverage, including 15 built-in covers for critical illnesses, accidents, maternity, travel benefits, and more.
ICICI Lombard’s
- Headquarters: Mumbai
- Established at 2001
- Head: Sanjeev Mantri
Agreement news
ICAI and MeitY Collaborate on AI Audit Tool for Corporate Oversight
The Institute of Chartered Accountants of India (ICAI) has initiated talks with the Ministry of Electronics and Information Technology (MeitY) to develop an AI Audit Tool aimed at overseeing corporate India and detecting frauds. ICAI President Ranjeet Kumar Agarwal has confirmed that a proposal has been sent to MeitY Secretary Krishnan.
- Initiative: Proposal confirmed by ICAI President Ranjeet Kumar Agarwal and sent to MeitY Secretary Krishnan.
- Funding: Initial allocation of ₹25 crore, with plans to increase to ₹100 crore for AI tool development.
- AI Capabilities: Tool to monitor company performance, report fraud, and ensure companies remain going concerns.
- Student Support: AI-based GPT tool to assist over 9 lakh CA students in exam preparation, featuring questions from the past 75 years for in-depth research and quick query resolution.
BSF and SBI Launch ‘Grow with the Trees’ Plantation Drive in Srinagar
On July 6, 2024, Border Security Force (BSF) and State Bank of India (SBI) have partnered for a ‘Grow with the Trees’ plantation drive at the BSF Headquarters in Srinagar, Jammu and Kashmir (J&K).
Aim: Enhance campus greenery and mitigate global warming, fostering a sustainable environment and a sense of community through teamwork.
Key Points:
- Activities: Numerous trees planted to promote a green and healthy environment.
- Impact: Initiative builds on similar successful efforts in arid regions like Rajasthan, transforming BSF campuses into greener areas.
About Border Security Force (BSF):
- BSF is a Central Armed Police Force in India under the Ministry of Home Affairs(MHA).
- Director General- Nitin Agarwal
- Headquarters- New Delhi, Delhi
- Establishment- 1 December 1965
About State Bank of India (SBI):
- Chairman Dinesh Kumar Khara
- Headquarters- Mumbai, Maharashtra
- Establishment- 1 July 1955
- Tagline- Pure Banking, Nothing Else
Appointment news
Ratan Kumar Kesh Appointed Interim MD & CEO of Bandhan Bank
On July 6, 2024, The Board of the Bandhan Bank Limited approved the appointment of Ratan Kumar Kesh as its Interim Managing Director (MD) and Chief Executive Officer (CEO), with effect from 10th July 2024 for three months or until a appointment of regular MD and CEO, whichever is earlier.
- He is currently serving as the Executive Director (ED) and Chief Operating Officer (COO) of Bandhan Bank (since March 2023).
- He is set to succeed Chandra Shekhar Ghosh, the founder and incumbent MD & CEO of the Bandhan Bank who is set to retire on 9th July 2024.
About Bandhan Bank Limited:
- It is the first-ever microfinance institution to become a universal bank from the eastern region.
- Managing Director (MD) & Chief Executive Officer (CEO)- Ratan Kumar Kesh (Interim w.e.f. 10th July 2024)
- Headquarters- Kolkata, West Bengal
- Establishment– 2015
- Tagline- Aapka Bhala. Sabki Bhalai (Your benefit. Everyone’s welfare)
Rank and report news
India Ranks Fifth in Generative AI Innovations
India ranks fifth in Generative AI (GenAI) innovations, trailing behind China, the US, Republic of Korea, and Japan. Despite India’s position, the country has shown the highest annual growth rate in GenAI patent publications, with significant potential for economic impact.
Global Rankings and Patent Data
- China: Tops with 38,210 patents.
- United States: Second with 6,276 patents.
- Republic of Korea: Third with 4,155 patents.
- Japan: Fourth with 3,409 patents.
- India: Fifth with 1,350 patents from 2014 to 2023.
Innovation Growth: India shows the highest annual growth rate in GenAI patent publications at 56%.
Economic Potential: Significant potential for economic impact despite holding only a 3% share of total GenAI patents.
Notable Patents: Includes RN Chidakashi Technologies’ AI assistant and Tata Consultancy Services’ GenAI tool.
RBI Report: India’s Employment Growth at 6% in FY24 vs 3.2% in FY23
India’s employment growth provisionally rose to 6% in FY24 compared to 3.2% in FY23, according to the Reserve Bank of India (RBI). This increase brought the total employment to 643.3 million, up from 596.7 million the previous year, with 46.7 million jobs created.
Detailed Findings
- Employment Growth: The employment growth rate was 6% in FY24, a significant rise from 3.2% in FY23.
- Total Employment: Total employment in India reached 643.3 million by March 2024.
- Jobs Created: A provisional 46.7 million jobs were created in FY24.
- Data Source: The RBI report uses data from the National Accounts and Ministry of Labour.
Award news
Tamil writer Sivashankari selected for Dr. C. Narayana Reddy National Literary Award
Tamil literature, renowned author Sivashankari has been selected as the recipient of the highly esteemed Dr. C. Narayana Reddy National Literary Award. This prestigious accolade celebrates her immense contributions to the rich tapestry of Tamil literary culture and her role in shaping contemporary Indian literature.
- Recognition: Celebrated for her contributions to Tamil literature and contemporary Indian literature.
- Award Details: Dr. C. Narayana Reddy National Literary Award presented by the Sushila Narayana Reddy Trust.
- Prize Components: ₹5 lakh cash prize, commemorative memento, and traditional shawl.
- Ceremony Date: July 29, 2024, at Ravindra Bharati, Hyderabad.
- Significance: Ceremony coincides with the 93rd birth anniversary of Dr. C. Narayana Reddy, the acclaimed Telugu poet and academic.
PM Modi To Receive Russia’s Highest Civilian Honour For “Outstanding Service”
Prime Minister Narendra Modi ceremoniously presented with the Order of St Andrew the Apostle the First-Called, which was bestowed on him in the year 2019 at St Catherine’s Hall of the Moscow Kremlin. The order was presented to the Prime Minister of India for his distinguished contribution to the development of a privileged strategic partnership between Russia and India and friendly ties between the two countries.
- Recognition: Distinguished contribution to Russia-India strategic partnership and friendly ties.
- Presentation: Scheduled at St Catherine’s Hall, Moscow Kremlin.
- Award History: Bestowed in 2019, ceremony to take place now.
- Established: In 1698 by Tsar Peter the Great.
- Significance: Russia’s highest civilian honor, named after Saint Andrew, the patron saint of Russia.
Russia:
- Capital: Moscow
- Currency: Russian Ruble
- Prime minister: Mikhail Mishustin
Scheme news
Launch of Digital Shakti 5.0 to Empower Women in Cyberspace
On July 5, 2024, the National Commission for Women (NCW) and CyberPeace Foundation launched ‘Digital Shakti 5.0′, the 5th phase of the Digital Shakti campaign, during a hybrid event at Vigyan Bhawan in New Delhi, Delhi. This pan-India project aims to digitally empower and upskill women and girls in cyberspace.
Objective: Digitally empower and upskill women and girls in cyberspace
Key People Present:
- Rekha Sharma, Chairperson of NCW
- Major Vineet Kumar, Founder & Global President of CyberPeace Foundation
- Sanjay Seth, MP (Ranchi, Jharkhand)
- Satya Pal Singh Bhaghel, Union Minister of State (MoFAH&D)
Background:
- Started at Punjab University, Chandigarh in 2018
- Trained 6 lakh women on digital safety so far
- Digital Shakti 4.0 (Nov 2022) reached over 5 lakh women
- Goal of Digital Shakti 5.0: Reach and train 10 lakh (1 million) women
MoC Launches Project PARI for 46th World Heritage Committee Session
the Ministry of Culture (MoC) has initiated Project PARI (Public Art of India) ahead of the 46th Session of the World Heritage Committee(WHC), which is scheduled to be held from 21st July to 31st July, 2024 at Bharat Mandapam in New Delhi, Delhi.
- The first intervention under Project PARI is taking place in Delhi coinciding with the meeting.
- For the first time, India is set to chair and host the United Nations Educational, Scientific and Cultural Organization (UNESCO)’s WHC.
About Project PARI:
- The initiative is executed by the Lalit Kala Akademi and the National Gallery of Modern Art.
- Under this project, More than 150 visual artists from across India have come together to create various wall paintings, murals, sculptures and installation.
- The representation of art in public spaces will reflect the rich and diverse cultural heritage of India.
About Ministry of Culture:
- Union Minister- Gajendra Singh Shekhawat (Constituency-Jodhpur, Rajasthan)
- Minister of State (MoS)- Rao Inderjit Singh (Constiuency- Gurugram, Haryana)
Science and tech news
DRDO Conducts Successful Trials of Indigenous Light Tank ‘Zorawar’ in Gujarat
DRDO Conducted Successful Trials of the Indigenous Light Tank ‘Zorawar’ in Gujarat India’s largest research organisation, the Defence Research and Development Organisation (DRDO) conducted successful trials of the indigenous Light Battle Tank ‘Zorawar’ in Hazira, Gujarat. It was reviewed by DRDO chief Dr Samir V Kamat. It is expected to be inducted into the Indian Army (IA) by the year 2027 after the completion of all the trials.
Tank Specifications:
- Weight: 25 tonnes
- Development: Designed in collaboration with Larsen and Toubro Limited (L&T)
- Unique Features: Integration of Unmanned Surface Vehicles (USVs) and loitering munitions, learning from the Russia-Ukraine conflict
Deployment:
- Likely to be deployed at the Line of Actual Control (LAC) opposite China in hilly terrains
NASA to Launch Habitable Worlds Observatory in 2040
The National Aeronautics and Space Administration (NASA) is set to launch the ‘Habitable Worlds Observatory (HWO)’ in 2040 to find proof of extraterrestrial life (aliens) and inhabited planets beyond the solar system. HWO is a unique telescope, dubbed “Super Hubble”, capable of detecting a range of ‘biosignatures’ emitted by living organisms and discovering inhabited planets by 2050.
- Objective: Find proof of extraterrestrial life and inhabited planets beyond the solar system
- Capabilities: Detect ‘biosignatures’ and discover inhabited planets by 2050
- Nickname: “Super Hubble”
Gaganyaan Astronauts Shortlisted for ISS Mission with NASA
- Mission: Axiom-4 mission to the International Space Station (ISS)
- Candidates: 2 shortlisted Gaganyaan astronauts from ISRO
- Launch Timeline: By October 2024
- Participants: Only one of the shortlisted astronauts will go on the mission
About NASA
- Administrator: Bill Nelson
- Headquarters: Washington, D.C., USA
- Founded: 1958
Sports news
Lewis Hamilton Wins Record 9th F1 British Grand Prix at Silverstone
British Formula One (F1) Mercedes driver Lewis Hamilton won the F1 British Grand Prix 2024 held on 7th July 2024 at Silverstone Circuit in England, the United Kingdom (UK).
- He has become the first F1 driver to have won this race for the 9th time extending the record, which he previously shared with Michael Schumacher.
- This was the 104th Grand Prix win of Lewis Hamilton’s career and has also extended a record run for podiums at the same race to 12.
Three-time World Champion Max Verstappen (Red Bull) finished 2nd in the race followed by McLaren’s Lando Norris in the 3rd spot.
Books and author news
AR Governor Releases “Kargil War” Book by Late Col M B Ravindranath
- vent: Book launch of “Kargil War: The Turning Point”
- Date & Location: Cariappa Hall, Rajendra Singhji Army Officers Institute, Bengaluru, Karnataka
- Released By: Lieutenant General Kaiwalya Trivikram Parnaik (Retired), Governor of Arunachal Pradesh
About the Book:
- Author: Late Colonel Magod Basappa Ravindranath, Vir Chakra awardee
- Content: 12 chapters memoir
- Publisher: Notion Press, Chennai, Tamil Nadu
