9th , 10th  And 11th  September 2024

9th , 10th  And 11th  September 2024

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National News

Ministry of Panchayati Raj and UNICEF Sign LOI to Enhance Rural Governance
Ministry of Panchayati Raj and UNICEF Sign LOI to Enhance Rural Governance

The Ministry of Panchayati Raj (MoPR) and the United Nations Children’s Fund (UNICEF) have signed a Letter of Intent (LOI) to collaborate on strengthening systems and engaging communities for social change.

  • Objectives:
    • Establish effective communication systems among the Ministry, Elected Representatives, Field Functionaries of Panchayati Raj Institutions, and Rural Communities.
    • Improve service delivery to rural citizens, with a focus on women and children, to advance localised Sustainable Development Goals (SDGs).
    • Empower rural communities to make informed decisions, enhance service delivery, and boost governance transparency, aiming for a more inclusive and connected rural India.

About the Ministry of Panchayati Raj (MoPR):

  • Union Minister: Rajiv Ranjan Singh (Lalan Singh), Constituency – Munger, Bihar
  • Minister of State (MOS): S. P. Singh Baghel, Constituency – Agra, Uttar Pradesh (UP)

About the United Nations Children’s Fund (UNICEF):

  • Executive Director (ED): Catherine Russell
  • Headquarters: New York, USA
  • Established: 1946
Prime Minister Narendra Modi Launches ‘Jal Sanchay Jan Bhagidari’ Initiative in Gujarat
Prime Minister Narendra Modi Launches 'Jal Sanchay Jan Bhagidari' Initiative in Gujarat

On September 6, 2024, Prime Minister Narendra Modi virtually launched the ‘Jal Sanchay Jan Bhagidari’ initiative in Surat, Gujarat. The program, with a budget of Rs 27 crore, is a collaborative effort between the Ministry of Jal Shakti (MoJS) and the Government of Gujarat.

  • Objective: The initiative aims to enhance water conservation through the construction of approximately 24,800 rainwater harvesting structures across Gujarat, fostering community involvement to ensure effective water management.
  • Participants: Gujarat Chief Minister Bhupendra Patel and Union Minister Chandrakant Raghunath Patil from MoJS, among others, were involved in the event.

Key Aspects of ‘Jal Sanchay Jan Bhagidari’:

  • Purpose: To tackle water shortages by building rainwater harvesting structures in critical areas with active community engagement.
  • Impact: The initiative focuses on improving groundwater levels and water infiltration in the districts of Surat, Tapi, Dang, Navsari, and Valsad, in line with the National Water Mission (NWM).

About Jal Shakti Abhiyan (JSA):

  • Launch: JSA was introduced in 2019 across 1,592 blocks in 256 water-stressed districts to promote water conservation and resource management.
  • Renaming: In 2021, it was renamed “Jal Shakti Abhiyan: Catch the Rain” and expanded nationwide to raise public awareness about water conservation.

About the Ministry of Jal Shakti (MoJS):

  • Union Minister: C R Paatil (Constituency – Navsari, Gujarat)
  • Ministers of State (MOS): V. Somanna (Constituency – Tumkur, Karnataka) and Raj Bhushan Choudhary (Constituency – Muzaffarpur, Bihar)
International Solar Festival 2024: PM Modi Addresses Solar Energy Milestones
International Solar Festival 2024: PM Modi Addresses Solar Energy Milestones

On September 5, 2024, Prime Minister Narendra Modi addressed the first International Solar Festival (ISF) 2024, held virtually from Bharat Mandapam in New Delhi.

Key Highlights:

  1. India’s Solar Energy Growth:
    • India has seen a 32-fold increase in solar energy capacity over the last decade.
    • The country aims to achieve 500 Gigawatts (GWs) of non-fossil power capacity by 2030.
  2. International Solar Festival 2024:
    • Organizer: International Solar Alliance (ISA).
    • Goals: To promote affordable, reliable, and sustainable solar energy globally.
    • Objectives:
      • To bring together industry leaders, policymakers, and financial institutions.
      • To promote solar energy adoption, provide funding, develop new technologies, and strengthen ISA member countries.
    • Focus: Celebrates the transformative power of solar energy, aiming to improve global energy access and advance Sustainable Development Goals (SDGs).
    • Themes: Includes the roles of youth, communities, women, and the private sector. Features keynote sessions, technical discussions, and showcases of innovative solar solutions.

About the International Solar Alliance (ISA):

  • Initiative: Launched by India and France at COP 21 in Paris to promote solar energy and support the Paris Climate Agreement.
  • Director-General (DG): Ajay Mathur
  • Headquarters: Gurugram, Haryana
  • Established: 2015

About New Delhi:

  • Chief Minister (CM): Arvind Kejriwal
  • Lieutenant Governor (LG): Vinai Kumar Saxena
  • Notable Stadiums: Arun Jaitley Stadium (formerly Feroz Shah Kotla Stadium) and Jawaharlal Nehru Stadium

Economy News

India’s Current Account Balance To Improve In Q2 FY25: Ind-Ra Report
India's Current Account Balance To Improve In Q2 FY25: Ind-Ra Report

According to the India Ratings and Research (Ind-Ra) latest report, India’s Current Account Balance (CAB) is expected to increase 1% of its Gross Domestic Product (GDP)in the 2nd Quarter (Q2: July-September) of Financial Year 2024-25 (FY25).

India’s Current Account Balance (CAB) Forecast

  • Expected to increase to 1% of GDP in Q2 (July-September) of FY25
  • Deficit of nearly USD 8 billion (0.8% of GDP) in Q1 (April-June) of FY25
  • Reversal from a surplus of USD 5.7 billion (0.6% of GDP) in the previous quarter

India’s Trade Performance

  • Merchandise exports grew by 6% Year-on-Year (Y-o-Y) in Q1 of FY25
  • Merchandise imports increased by 7.6% Y-o-Y to USD 172.2 billion in Q1FY25

Global Trade: Global trade grew by 14.1% Y-o-Y in Q1FY25, the fastest pace of growth in six quarters

About India Ratings and Research (Ind-Ra)

  • Chairman, Managing Director (CMD) and CEO: Rohit Karan Sawhney
  • Headquarters: Mumbai, Maharashtra
  • Established: 1995
Telangana, Tamil Nadu, and Rajasthan Lead in GSDP Growth for FY24
Telangana, Tamil Nadu, and Rajasthan Lead in GSDP Growth for FY24

According to the latest data from the Ministry of Statistics and Programme Implementation (MoSPI), Telangana, Tamil Nadu (TN), and Rajasthan have achieved the highest growth in real Gross State Domestic Product (GSDP) among the 10 largest states in India for the Financial Year 2023-24 (FY24).

  • According to the latest data from the Ministry of Statistics and Programme Implementation (MoSPI), Telangana, Tamil Nadu (TN), and Rajasthan have recorded the highest growth in real Gross State Domestic Product (GSDP) among India’s 10 largest states for the Financial Year 2023-24 (FY24). GSDP measures the total value of goods and services produced within a state, indicating robust economic expansion.

Top Performing States:

  1. Telangana:
    • Growth Rate: 9.2%
    • Real GSDP: Rs 7.9 lakh crore
    • Note: Surpassed India’s GDP growth rate of 8.2% in FY24. Telangana, the 9th largest state, showed significant economic improvement.
  2. Tamil Nadu (TN):
    • Growth Rate: 8.2%
    • Real GSDP: Rs 15.7 lakh crore
    • Note: As the 3rd largest state, TN demonstrated strong economic growth.
  3. Rajasthan:
    • Growth Rate: 8%
    • Note: The 7th largest state recorded a solid GSDP increase.

Contribution of the Services Sector:

  • Telangana: Services sector, contributing 63% to GVA, grew by 11%.
  • Tamil Nadu: Services sector, accounting for 52% of GVA, grew by 9%.
  • Maharashtra: Despite being the largest economy with a real GSDP of Rs 24.1 lakh crore in FY24, its services sector growth lagged at 9%, down from 13% in FY23.

Other States’ GSDP Growth:

  • Maharashtra: Remains the largest economy with significant GSDP.
  • Gujarat: Data for Gujarat, the 2nd largest state in FY23, is not yet available but is expected to retain its position based on budget estimates.
  • Uttar Pradesh (UP) and Karnataka: Ranked 4th and 5th respectively, with UP’s GSDP marginally surpassing Karnataka’s by Rs 130 crore.

Sector Performance:

  • Agriculture: Underperformed across most states due to the El Niño effect.
  • Contributions: In TN, sectors like agriculture, construction, and real estate significantly contributed to overall growth. In Telangana, growth was driven by real estate and other services, alongside a rebound in the manufacturing sector.

About Ministry of Statistics and Programme Implementation (MoSPI):

  • Minister of State (MoS) (Independent Charge-IC): Rao Inderjit Singh (Constituency – Gurugram, Haryana)

International News

Algeria Joins BRICS New Development Bank (NDB) as 10th Member
Algeria Joins BRICS New Development Bank (NDB) as 10th Member

On August , 2024, at the 9th Annual Meeting of the NDB in Cape Town, South Africa, Dilma Rousseff, President of the NDB, announced that Algeria has been authorized to become the newest member of the BRICS New Development Bank (NDB).

Key Details:

  1. Membership Expansion:
    • New Member: Algeria’s inclusion brings the total number of NDB members to 10.
    • Regional Impact: Algeria is the 3rd Arab country to join the NDB, following Egypt and the United Arab Emirates (UAE).
    • Background: Algeria’s request to join the NDB was made following President Abdelmadjid Tebboune’s visit to China in 2023.
  2. Meeting Theme:
    • Theme: “Investing in a Sustainable Future,” highlighting the NDB’s commitment to sustainable development and addressing global challenges.

About the New Development Bank (NDB):

  • Establishment: Founded in 2015 by BRICS countries (Brazil, Russia, India, China, and South Africa).
  • Purpose:
    • Objective: Mobilize resources for infrastructure and sustainable development projects in Emerging Markets and Developing Countries (EMDCs).
    • Ownership: Created and majority-owned by EMDCs.
    • Mission: Contribute to global growth and development by addressing the needs of EMDCs.

Membership Updates:

  • Recent Additions:
    • 2021: Bangladesh and UAE joined; Uruguay was welcomed as a Prospective Member.
    • 2023: Egypt joined the NDB.
    • Prospective Members: Countries admitted as Prospective Members must deposit their instrument of accession to become full members.
  • Future Meetings: The 10th Annual Meeting will be held in Brazil in 2025.

About NDB:

  • President: Dilma Rousseff
  • Headquarters: Shanghai, China
  • Established: 2015
Nepal became 101st member of ISA

Nepal has become the 101st country to join the International Solar Alliance (ISA) as a full member. The Ministry of External Affairs said that Nepal handed over its Instrument of Ratification to the ISA in New Delhi on 9th September.

What is ISA? The ISA is a global intergovernmental organization dedicated to advancing solar power adoption for a carbon-neutral future.

When was it launched? ISA was launched as a collaborative initiative between India and France, conceptualized during COP21 in Paris in 2015. A 2020 amendment expanded membership eligibility to all UN member states.

Areas of Cooperation:

  • Analytics & Advocacy: Promotes solar-friendly policies and raises awareness.
  • Policy Support: Assists governments in crafting solar-friendly energy policies.
  • Business Models: Develops and tests new business models for solar projects.
  • Financial Access: Mitigates risks and attracts private investment for solar technology.

Headquarters: Gurugram, India

Role: ISA partners with multilateral development banks, the private and public sectors, civil society, and international institutions to implement cost-effective solar solutions, with a focus on Least Developed Countries (LDCs) and Small Island Developing States (SIDS).

Banking news

DICGC Launches ‘Daava Soochak’ for Claim Status Tracking
  • In The Deposit Insurance and Credit Guarantee Corporation (DICGC), a subsidiary of the Reserve Bank of India (RBI), has launched a new online tool called ‘Daava Soochak’ or Claim Status Tracking. The tool was inaugurated by Dr. Michael D. Patra, Deputy Governor of RBI and Chairman of DICGC.

Key Features of ‘Daava Soochak’:

  1. Functionality:
    • Purpose: Allows depositors to track the status of their claims by entering their registered mobile number on the DICGC website.
    • Coverage: Tracks claims for banks placed under All Inclusive Directions (AID) from April 1, 2024, onward.
  2. DICGC Role and Statistics:
    • Responsibility: Reimburses insured amounts to depositors of failed banks.
    • Insurance Limit: Raised to Rs 5,00,000 per depositor in February 2020.
    • Coverage: Currently, 97.8% of deposit accounts are fully insured.
    • Claims Settled (2023-24): Settled claims worth Rs 1,432 crore, with Rs 900.73 crore repaid.
    • Bank Registrations: As of March 31, 2024, 1,997 banks were registered, including 140 commercial and 1,857 cooperative banks.
    • Premium Received (2023-24): Total premium of Rs 23,879 crore, with 94.4% contributed by commercial banks.

About Deposit Insurance and Credit Guarantee Corporation (DICGC):

  • Chairman: Dr. Michael Debabrata Patra
  • Headquarters: Mumbai, Maharashtra
  • Established: 1978
HDBFS Becomes First NBFC to Implement NPCI’s e-KYC Setu System
HDBFS Becomes First NBFC to Implement NPCI's e-KYC Setu System

Housing Development Finance Services Limited (HDBFS), based in Ahmedabad, Gujarat, has become the first Non-Banking Financial Company (NBFC) to launch the National Payments Corporation of India’s (NPCI) Electronic-Know Your Customer (e-KYC) Setu System.

Key Features of e-KYC Setu System:

  1. Objective:
    • Purpose: Designed to streamline the account opening process for financial services.
    • Benefits: Provides a faster, simpler, and more secure method for customers to access financial services.
  2. Customer Experience:
    • Ease of Access: HDBFS customers can now open loan accounts without needing to upload documents or visit a branch.
    • Authentication: Identity validation is done through secure One-Time Password (OTP) based authentication, allowing customers to validate their identities from any location.
    • Efficiency: Ensures a hassle-free experience and speeds up the customer onboarding process.
  3. Collaboration:
    • Parties Involved: The system is developed in collaboration between NPCI and the Unique Identification Authority of India (UIDAI).

About HDBFS:

  • Location: Ahmedabad, Gujarat
  • Significance: HDBFS’s adoption of the e-KYC Setu System marks a significant advancement in the digital onboarding and customer verification process for NBFCs.
Union Bank of India Joins PCAF as First Major Indian Bank, Aligning with RBI’s Climate Disclosure Framework
  • Union Bank of India (UBI) has become the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF).
  • Objective: PCAF helps financial institutions measure and report greenhouse gas (GHG) emissions from their investments and loans.

Alignment with RBI’s Framework:

  • RBI’s Draft Disclosure Framework: Requires banks to report climate-related financial risks by April 2025 and meet specific climate targets by April 2027.
  • UBI’s Goal: To disclose its portfolio’s GHG emissions by FY2027-28 using PCAF’s methodology.

Key Points:

  • Financed Emissions: Scope 3 emissions from lending and investments are significant and need tracking, as they often exceed operational emissions.
  • RBI’s Mandates: Include disclosures on governance, strategy, risk management, and metrics/targets related to climate risks.
  • PCAF’s Role: Provides a framework for global harmonization of GHG reporting among financial institutions.
  • Support for Climate Goals: PCAF’s approach supports India’s Nationally Determined Contributions and the Paris Agreement.
  • Sector Standards: UBI’s commitment will set standards in sectors such as agriculture and microfinance.

About Union Bank of India (UBI):

  • Managing Director (MD) & Chief Executive Officer (CEO): A. Manimekhalai
  • Established: 1919
  • Headquarters: Mumbai, Maharashtra
  • Tagline: Good people to bank with

Ranks and report news

TIME 100 Most Influential People in AI 2024: Indian Leaders Featured

On 5th September 2024, TIME, the New York (the United States of America-USA)based Magazine, released “TIME 100 Most Influential People in AI 2024”.

Sundar Pichai, Chief Executive Officer (CEO) of Google and Alphabet, Union Minister Ashwini Vaishnaw, Ministry of Electronics and Information Technology (MeitY) and Anil Kapoor, Renowned Actor are among leaders from India or of Indian descent featured on the list.

About TIME 100 Most Influential People in AI 2024:

  • Featured Indians:
    • Sundar Pichai: CEO of Google and Alphabet
    • Ashwini Vaishnaw: Union Minister, Ministry of Electronics and Information Technology (MeitY)
    • Anil Kapoor: Renowned Actor

About TIME 100 Most Influential People in AI 2024:

  1. Edition: This is the 2nd edition of the TIME 100 Most Influential People in AI.
  2. Purpose: Recognizes 100 individuals who are shaping the rapidly evolving field of Artificial Intelligence (AI).
  3. Categories: The list is divided into four categories:
    • Leaders
    • Innovators
    • Shapers
    • Thinkers

About TIME Magazine:

  • CEO: Jessica Sibley
  • Headquarters: New York, USA
  • Established: 1923
India Surpasses China in MSCI Emerging Markets Investable Market Index (EM IMI)
India Surpasses China in MSCI Emerging Markets Investable Market Index (EM IMI)

India has overtaken China in the Morgan Stanley Capital International (MSCI) Emerging Markets Investable Market Index (EM IMI) with a weightage of 22.27%, surpassing China’s 21.58%. This shift reflects India’s strong market performance and favorable macroeconomic conditions, contrasted with China’s economic challenges.

Overview:

  • Weightage: India now has a 22.27% weight in the MSCI EM IMI, surpassing China’s 21.58%.
  • Index Details: The MSCI EM IMI includes large, mid, and small-cap stocks, benefiting India due to a higher small-cap component.

Index Rebalancing:

  • September 2024: India’s increased weight reflects broader market trends and strong performance.

Market Performance:

  • Strengths: India’s equity market benefits from solid macroeconomic fundamentals, robust corporate earnings, and a 47% rise in foreign direct investment.
  • Additional Factors: Lower Brent crude prices and significant foreign portfolio investment in Indian debt markets have also contributed.

Inflows and Projections:

  • Expected Inflows: Analysts estimate $4-4.5 billion inflows into Indian equities due to the index rejig.
  • Global Index Weight: India’s weight in the MSCI Emerging Markets Index increased from 18% to 20% between March and August 2024, while China’s weight declined from 25.1% to 24.5%.

Regional and Global Standing:

  • Importance: India’s growing global GDP share and index weight underscore its increasing investment importance.
  • Ranking: Morgan Stanley lists India as a top investment choice in the Asia-Pacific region, just behind Japan.
  • Caution: Analysts warn of potential market corrections due to investor concerns and market dynamics.
India Remains Top Source for Sri Lanka Tourism in 2024

India Remains Top Source for Sri Lanka Tourism in 2024 As Indians roam all around the world, recent data came out as Sri Lanka is also one of the top travel destinations for Indians in 2024. India maintained the top spot for Sri Lanka in the first 8 months of this year.

Visitor Statistics:

  • Indian Tourists: Nearly 260,000 Indians visited Sri Lanka in the first eight months of 2024.
  • Overall Arrivals: Sri Lanka welcomed 1.36 million tourists during the same period.

Tourism Growth:

  • Increase in Arrivals: Tourist arrivals in 2024 have risen by 50.7% compared to the same period in 2023.

Economic Impact:

  • Revenue: Sri Lanka earned $2.17 billion from tourism in the first eight months of 2024, marking a 66.1% increase from the previous year.

Economic Dependence:

  • Tourism’s Role: With limited resources, Sri Lanka’s economy relies heavily on tourism as a key sector.

Future Projections:

  • Tourist Goals: Sri Lankan tourism authorities aim to attract three million foreign tourists by 2025, potentially returning the industry to pre-COVID levels.

Sri lankha:

IIFT Ranks No. 1 Globally for Networking in LinkedIn MBA 2024, Secures 51st Overall

The Indian Institute of Foreign Trade (IIFT), under the Ministry of Commerce and Industry, Government of India, has been ranked No. 1 globally for Networking in LinkedIn’s Global MBA Ranking 2024, while securing the 51st position among the top 100 MBA programmes worldwide.

  • LinkedIn’s Global MBA Ranking 2024:
    • Networking: Ranked No. 1 globally for Networking.
    • Overall Position: Secured the 51st position among the top 100 MBA programs worldwide.

Government Recognition and Support:

  • Minister of Commerce and Industry: Shri Piyush Goyal praised IIFT’s achievement as a testament to its global networking excellence.
  • Commerce Secretary: Shri Sunil Barthwal highlighted the ranking as evidence of IIFT’s commitment to academic and research excellence, and strong relationships with alumni, corporates, and international bodies.

Leadership Commitment:

  • Vice Chancellor Prof. Rakesh Mohan Joshi: Reaffirmed the goal to position IIFT as a world-class Centre of Excellence, supported by stakeholders such as students, alumni, and government bodies.

Appointment news

RS Sharma Appointed Non-Executive Chairperson of ONDC

RS Sharma has been appointed as the Non-Executive Chairperson of the Open Network for Digital Commerce (ONDC).

Previous Roles: Sharma has previously served as:

  • Director General and Mission Director of the Unique Identification Authority of India (UIDAI)
  • Chairman of the Telecom Regulatory Authority of India (TRAI)
  • CEO of the National Health Authority
Abdelmadjid Tebboune Re-Elected as President of Algeria for Second Term

On September 9, 2024, Abdelmadjid Tebboune was re-elected as President of Algeria for a second term (2024-2029). Having served as president since 2019, Tebboune won the election with 94.7% of the vote. The voter turnout was 48%. Tebboune ran as an independent candidate.

Key Details:

  • President: Abdelmadjid Tebboune
  • Prime Minister: Nadir Larbaoui
  • Capital: Algiers
  • Currency: Algerian Dinar (DZD)
Subrata Mondal Appointed as MD & CEO of IFFCO Tokio General Insurance

Subrata Mondal has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of IFFCO Tokio General Insurance Company Limited (ITGI). He succeeds HO Suri, who had been in the role since October 2021. Before his new role, Mondal served as the Chief Underwriter at ITGI, where he managed underwriting across various business lines.

About Subrata Mondal and IFFCO Tokio General Insurance Company Limited

Subrata Mondal:

  • Tenure at ITGI: Associated with IFFCO Tokio General Insurance Company Limited (ITGI) since 2001.
  • Previous Roles: Held key positions at National Insurance Company Limited (NICL).
  • Early Career: Worked as a Shift Engineer at Steel Authority of India (SAIL) in the Durgapur Steel Plant, West Bengal (WB).

IFFCO Tokio General Insurance Company Limited (ITGI):

  • Joint Venture: A 51:49 joint venture between Indian Farmers Fertilisers Co-operative (IFFCO) and Japan’s Tokio Marine Holdings, Inc.
  • Managing Director & CEO: Subrata Mondal
  • Chairman: Rakesh Kapur
  • Headquarters: Gurugram, Haryana
  • Incorporated: 2000
Michel Barnier Appointed as France’s Oldest Prime Minister Amid Record-Breaking Transition

On 5th September 2024, Emmanuel Macron, President of France, appointed Michel Barnier (73 years old), the Former Brexit negotiator, as the new Prime Minister of France. Barnier, at 73, is the oldest prime minister to serve under France’s Fifth Republic, replacing the outgoing caretaker PM Gabriel Attal. Attal had been serving in this temporary role after the 2024 election results. Barnier’s appointment followed a record 50-day caretaker government period, marking the longest transition in French history.

Key Facts about France:

  • President: Emmanuel Macron
  • Capital: Paris
  • Currency: Euro
FSIB Recommends Rama Mohan Rao Amara as New Managing Director of SBI

The Financial Services Institutions Bureau (FSIB) has recommended Rama Mohan Rao Amara for the role of Managing Director (MD) of the State Bank of India (SBI).

  • Current Role: Amara is currently serving as Deputy MD of SBI, a position he has held since July 2023.
  • Selection Process: FSIB interviewed nine candidates for the MD position and selected Amara based on his experience, performance, and qualifications.
  • Approval Pending: The final decision on the recommendation will be made by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi.
  • Future Position: If approved, Amara will become the fourth MD at SBI, which is led by a Chairman and four MDs.
  • SBI Overview:
    • Chairman: Challa Sreenivasulu Setty
    • Headquarters: Mumbai, Maharashtra
    • Establishment: 1955
    • Tagline: “Pure Banking, Nothing Else”
Government Appoints Deepti Gaur Mukherjee as SEBI Board Member

The Government of India has appointed Deepti Gaur Mukherjee, currently Secretary of the Ministry of Corporate Affairs (MCA), as a member of the Securities and Exchange Board of India (SEBI) Board.

  • Replacement: Mukherjee replaces Manoj Govil, the former MCA Secretary who was recently appointed as Expenditure Secretary in the Ministry of Finance. Govil had been serving as a part-time SEBI Board member since December 2022.
  • Background: Mukherjee, a 1993 batch IAS officer from the Madhya Pradesh cadre, has been serving as MCA Secretary since August 21, 2024.
  • Previous Role: Before her current role, she was the Chief Executive Officer of the National Health Authority (NHA) in New Delhi.
Raja Randhir Singh Elected as President of the Olympic Council of Asia

On 8th September 2024, Raja Randhir Singh (aged 77), a former Indian shooter and veteran sports administrator, has been elected as the President of the Olympic Council of Asia (OCA) for a tenure of four-year (from 2024 to 2028). He becomes the first Indian to serve as President of OCA.

Election Details:

  1. Unanimous Selection:
    • Event: Elected during the 44th General Assembly held at Bharat Mandapam, Pragati Maidan, New Delhi.
    • Presence: Union Minister Mansukh Mandaviya and leaders from 45 Asian nations were present.
  2. Previous Role:
    • Acting President: Singh had been serving as the Acting President of the OCA since 2021, following Sheikh Ahmad Al-Fahad Al-Sabah’s 15-year ban.

About Raja Randhir Singh:

  1. Sports Career:
    • Olympics: Competed in shooting at Tokyo 1964, Mexico 1968, Munich 1972, Montreal 1976, Moscow 1980, and Los Angeles 1984.
    • Asian Games: Participated in Bangkok 1978, New Delhi 1982, Seoul 1986, and Hiroshima 1994.
  2. Sports Administration:
    • Indian Olympic Association (IOA): Secretary General (1987-2014)
    • Sports Authority of India (SAI): Member of the governing body (1987-2010)
    • OCA: Secretary General (1991-2015)
    • International Olympic Committee (IOC): Member (2001-2014)
    • World Anti-Doping Agency (WADA): IOC Representative and Member of WADA’s Finance and Administration Committee.
  3. Awards:
    • Arjuna Award: Honored by the Government of India in 1979
    • Maharaja Ranjit Singh Award: Government of Punjab
    • OCA Award of Merit (2005)
    • Olympic Order, Silver (2014)

About the Olympic Council of Asia (OCA):

  • Role: Governs sports in Asia.
  • Affiliations: Recognized by the International Olympic Committee (IOC), Association of National Olympic Committees (ANOC), and the 45 member Asian National Olympic Committees (NOCs).
  • Headquarters: Kuwait City, Kuwait
  • Established: 1982

Sports news

US Open Tennis Championships 2024 Highlights

The United States (US) Open Tennis Championships 2024, commonly called the US Open 2024, was held from 19th August 2024 to 8th September 2024 on outdoor hard courts at USTA Billie Jean King National Tennis Center, New York, the United States of America (USA). i.Jannik Sinner of Italy (World No. 1) won the Men’s Singles title of the US Open 2024 by defeating Taylor Fritz of the United States of America (USA) (World no. 12) in the finals held at Arthur Ashe Stadium in New York, USA.

  • Event Dates: August 19, 2024 – September 8, 2024
  • Venue: USTA Billie Jean King National Tennis Center, New York, USA

Men’s Singles:

  • Champion: Jannik Sinner (Italy, World No. 1)
  • Runner-up: Taylor Fritz (USA, World No. 12)
  • Final Venue: Arthur Ashe Stadium, New York

Women’s Singles:

  • Champion: Aryna Sabalenka (Belarus)
  • Runner-up: Jessica Pegula (USA)
Deepali Thapa Makes History as First Schoolgirl Champion

Deepali Thapa: Became the first-ever schoolgirl champion at the Asian Youth Boxing Championships, held in Al Ain, UAE.

  • Significance: This milestone highlights India’s growing strength in women’s boxing on the global stage.

Thapa’s Path to Victory:

  • Semifinals: Defeated Kazakhstan’s Anelya Ordabek in the 33kg category, showcasing her exceptional skill and determination.
  • Final: Overcame Ukraine’s Liudmyla Vasylchenko with superior technique and control to secure the gold medal.

India’s Stellar Performance:

  • Overall Success: India demonstrated significant talent across various weight categories at the championships.

Other Notable Victories:

  • Bhoomi: Triumphed in the 35kg category with a win over Kazakhstan’s Assel Jalimbekova, enhancing India’s standing in lighter weight classes.
  • Nischal Sharma: Secured a strategic victory in the 37kg category against Ukraine’s Maria Matsiura, showcasing tactical brilliance and ensuring India’s third title of the event.

Science And Tech News

ISRO’s Plan for India’s First Space Station: Bharatiya Antariksh Station (BAS)

The Indian Space Research Organisation (ISRO) plans to launch the 1st base module of the Bharatiya Antariksh Station (BAS), India’s 1st space station, by 2028. The BAS will have 5 modules. The entire station with a mass of about 52 tonnes is expected to be fully assembled in space by 2035.

  • Launch Timeline:
    • First Module: Scheduled for launch by 2028.
    • Full Assembly: Expected to be completed by 2035.
  • Space Station Overview:
    • Total Modules: 5
    • Mass of Station: Approximately 52 tonnes
  • First Module Details:
    • Mass: 9,186 kilograms (kg)
    • Type: Robotic module, lacks human re-entry capabilities
    • Compatibility: Designed to fit into the Launch Vehicle Mark-3 (LVM Mk-3)
  • New Generation Rocket:
    • Name: Soorya
    • Capability: Twice the capacity of the current heaviest rocket, LVM Mk-3
    • LVM-3 Capabilities:
      • Maximum of 4-tonne class satellites to Geosynchronous Transfer Orbits (GTO)
      • Up to 10 tonnes to Low Earth Orbit (LEO)
  • Astronauts and Experiments:
    • Capacity: The space station will accommodate 3-4 astronauts
    • Purpose: Conduct various space experiments
About Indian Space Research Organisation (ISRO):
  • Chairman: Dr. S. Somanath
  • Headquarters: Bengaluru, Karnataka
  • Established: 1969

State news

Himachal CM Sukhvinder Sukhu Launches India’s First National Common Mobility Card for Cashless Travel

On September 6, 2024, Himachal Pradesh Chief Minister Sukhvinder Sukhu inaugurated the National Common Mobility Card (NCMC) for the Himachal Road Transport Corporation (HRTC) in Shimla. This pioneering initiative makes HRTC the first State Transport Undertaking (STU) in India to offer cashless travel across the nation.

  • Official: Sukhvinder Sukhu, Chief Minister of Himachal Pradesh
  • Initiative: Launch of the National Common Mobility Card (NCMC) for Himachal Road Transport Corporation (HRTC)
  • Location: Shimla, Himachal Pradesh
  • Significance:
    • First State Transport Undertaking (STU) in India to introduce a nationwide cashless travel card
    • Developed in collaboration with the State Bank of India (SBI)
  • Card Features:
    • Contactless and EMV-chip-based prepaid card
    • Compatible with Europay, Mastercard, and Visa
    • Allows seamless payments across various public transportation systems, including Delhi Metro and Delhi Transport Corporation (DTC)

Obituary News

Renowned Translator and Sahitya Akademi Awardee K. Chellappan Passes Away at 88
  • Sahitya Akademi Awardee and renowned English teacher, translator K. Chellappan passed away at the age of 88 in Chennai, Tamil Nadu (TN). He was born in 1936.
  • In 2020, he was honoured with Sahitya Akademi Award for his translation of Rabindranath Tagore’s Novel ‘Gora’ from Bengali to Tamil. give a sutiable heading for this

Scheme News

Digi Yatra Facility and Regional Connectivity Scheme Expansion

On 6th September 2024, Union Minister Kinjarapu Rammohan Naidu, Ministry of Civil Aviation (MOCA) inaugurated the Digi Yatra facility for 9 airports at Visakhapatnam International Airport, Andhra Pradesh (AP).

He has also virtually extended it to 8 other airports of Airport Authority of India (AAI) namely, Coimbatore (Tamil Nadu (TN)), Dabolim (Goa), Indore (Madhya Pradesh (MP)), Bagdogra (West Bengal (WB)), Ranchi (Jharkhand), Patna (Bihar), Raipur (Chhattisgarh), and Bhubaneshawar (Odisha) airports.Top of Form

Digi Yatra Facility:

  • Inauguration Date: September 6, 2024
  • Location: Visakhapatnam International Airport, Andhra Pradesh
  • Virtual Extension: The facility was also extended to 8 other airports managed by the Airport Authority of India (AAI):
    • Coimbatore (Tamil Nadu)
    • Dabolim (Goa)
    • Indore (Madhya Pradesh)
    • Bagdogra (West Bengal)
    • Ranchi (Jharkhand)
    • Patna (Bihar)
    • Raipur (Chhattisgarh)
    • Bhubaneswar (Odisha)

Regional Connectivity Scheme (RCS) Expansion:

  • Announcement: Union Minister Kinjarapu Rammohan Naidu also announced the expansion of the Regional Connectivity Scheme (RCS).
  • Objective: RCS aims to improve regional connectivity by providing better access to airports across the country. It was originally introduced in 2016.

About Ministry of Civil Aviation (MoCA):

  • Union Minister: Kinjarapu Rammohan Naidu (Constituency – Srikakulam, Andhra Pradesh)
  • Minister of State (MOS): Murlidhar Kisan Mohol (Constituency – Pune, Maharashtra)

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