Freedom notes: On the Independence Day speech and beyond
Prime Minister Narendra Modi’s first Independence Day speech in his third term in office — the eleventh since 2014 — sought to signal continuity and authority, particularly in the context of the fact that he is now leading a coalition government. He called for a uniform civil code, terming it a secular measure agnostic of religious faiths, ‘one nation, one election,’ and increased safety of women against the backdrop of the sexual assault and murder of an on-duty doctor in Kolkata recently. Mr. Modi said there were attempts to destabilise the economy of the country, echoing the BJP’s view on a recent report by U.S.-based short seller Hindenburg Research that has accused the head of stock market regulator SEBI of conflict of interest. Mr. Modi criticised the continuing trend of dynastic politics and suggested that one lakh first generation young leaders should enter electoral politics at various levels, and also expressed hope for peace being restored in Bangladesh. Reviewing his two terms in power, he claimed that India has made great strides in manufacturing, and in fighting corruption, and vowed to stay the course regardless of obstacles. The desirability of a uniform civil code, or more youngsters in politics or fighting corruption is not in question. But unfortunately, all these remain contentious issues, largely due to the government’s partisan approach.
That Leader of the Opposition Rahul Gandhi was seated in a back row of the audience at Red Fort where Mr. Modi delivered his customary address is instructive. The government’s explanation for this breach of precedent, that the seats in the front rows were given to members of this year’s Olympic team, is hardly a reasonable one. The government needs to be less unilateral and more consultative if it is truly committed to advancing a unified national agenda in the seventy-eighth year of India. A uniform civil code in a country as diverse as India requires consensus building, and ending the opportunistic use of the issue to attack the Muslim community. The government cannot fight corruption by investigating only Opposition leaders and overlooking serious charges against functionaries such as the SEBI chief. Criticism of the government is not a conspiracy to destabilise the nation, and labelling it as such is appealing only to a diminishing number of people. Independence Day should be a good occasion as any other to remember that the nation is not the government, and certainly not synonymous with the party in power. The freedom is for keeping the government of the day accountable to the people through a political process.
Word
Meaning
Symons
Antonym
Coalition
A coalition is a group of individuals, organizations, or countries that come together to achieve a common goal or purpose.
Alliance Partnership Union Bloc
Division Separation Disunity Fragmentation
Agnostic
The term “agnostic” generally refers to a person who is unsure about the existence of deities or the supernatural.
Skeptical Doubtful Uncertain Questionin
Theistic Certain Confident Believer
Destabilise
In a political sense, destabilising a government or regime involves actions that disrupt its stability, potentially leading to chaos or a loss of control.
Disrupt Undermine Weaken Shake
Stabilise Secure Strengthen Maintain
Opportunistic
“Opportunistic” refers to someone who takes advantage of opportunities, often in a way that is self-serving or pragmatic.
1) Which act has the Maharashtra Government used to officially designate the Petroglyphs and Geoglyphs in Ratnagiri as ‘Protected Monuments’?
A) The Indian Archaeological Sites and Remains Act, 1958<br />B) The Maharashtra Ancient Monuments and Archaeological Sites and Remains Act, 1960<br />C) The Ancient Monuments Preservation Act, 1904<br />D) The Archaeological Sites Act, 1972</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: B) The Maharashtra Ancient Monuments and Archaeological Sites and Remains Act, 1960
<h2>2.How much investment has been approved by the Union Cabinet for the airport infrastructure projects in West Bengal and Bihar?</h2>
A) ₹1,500 crore<br />B) ₹2,000 crore<br />C) ₹2,962 crore<br />D) ₹3,500 crore</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: C) ₹2,962 crore
<h2>3.What is the primary purpose of the Krishi-Decision Support System (DSS) launched by Bhagirath Choudhary?</h2>
A) To provide financial assistance to farmers<br />B) To enhance agricultural practices through a digital geo-spatial platform<br />C) To manage agricultural supply chains<br />D) To promote international trade of agricultural products</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: B) To enhance agricultural practices through a digital geo-spatial platform
<h2>4.What is the main objective of the Memorandum of Understanding (MoU) signed between the Comptroller and Auditor General of India (CAG) and the Chamber of Accounts of Uzbekistan?</h2>
A) To promote bilateral trade agreements<br />B) To enhance collaboration and expertise in auditing<br />C) To establish a joint educational program<br />D) To cooperate on technological advancements</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: B) To enhance collaboration and expertise in auditing
<h2>5.What is the primary objective of DSP Mutual Fund's newly introduced Nifty Top 10 Equal Weight Index Fund and ETF?</h2>
A) To provide exposure to international markets<br />B) To offer balanced exposure to the top 10 companies on the Nifty Index with equal weight<br />C) To invest exclusively in technology stocks<br />D) To focus on small-cap and mind-cap companies</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: B) To offer balanced exposure to the top 10 companies on the Nifty Index with equal weight
<h2>6.Who launched the National Pest Surveillance System (NPSS) to enhance pest management for Indian farmers?</h2>
A) Narendra Modi<br />B) Amit Shah<br />C) Shivraj Singh Chouhan<br />D) Nitin Gadkari<br /><br /></p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: C) Shivraj Singh Chouhan
<h2>7.Who has been appointed as the Managing Director and Chief Executive Officer (MD & CEO) of Tamilnad Mercantile Bank (TMB) for a three-year term, pending shareholder approval?</h2>
A) K. S. R. Anjaneyulu<br />B) Salee Sukumaran Nair<br />C) Ravi Shankar Prasad<br />D) Sandeep Bakhshi</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: B) Salee Sukumaran Nair
<h2>8.Which jersey number has Hockey India officially retired in tribute to Parattu Raveendran (PR) Sreejesh?</h2>
A) No. 10<br />B) No. 12<br />C) No. 16<br />D) No. 20<br /><br /></p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: C) No. 16
<h2>9.What is the maximum amount of interest-free loans provided under the Mukhyamantri Yuva Udyam Vikas Abhiyan (MYUVA) scheme?</h2>
A) Rs 2 lakh<br />B) Rs 3 lakh<br />C) Rs 5 lakh<br />D) Rs 7 lakh</p>
<a tabindex="0">ANSWER AND EXPLANATION</a>
<p>Answer: C) Rs 5 lakh
Union Jal Shakti Ministry launches Flood Watch India 2.0 App
In order to improve flood forecasting and flood management systems in the country, the government of India has launched an improved Flood Watch India 2.0 App.The Flood Watch India app 2.0 provides real-time information on flood situations to users across the country through a smartphone.The Flood Watch India app 2.0 is an upgraded version of the Flood Watch India App launched in August 2023. Compared to the 2023 version, covers more flood monitoring stations and water reservoirs in the country.
Who launched the Flood Watch India 2.0 App?
The Flood Watch India 2.0 app was launched by the Union Minister for Jal Shakti, C.R. Paatil, in a function held in New Delhi on 13 August 2024. Ms. Debashree Mukherjee, Secretary of Water Resources, River Development & Ganga Rejuvenation, Kushvinder Vohra, Chairman, Central Water Commission and other dignitaries were also present on the occasion,
Who has developed the Flood Watch India 2.0 app?
The Flood Watch India 2.0 app has been developed by the Central WaterCommission, which comes under the Union Ministry of Jal Shakti.
The app uses state-of-the-art technologies such as satellite data analysis, mathematical modelling and real-time monitoring to deliver accurate and timely flood forecasts.
Feature of the Flood Watch India 2.0 App
It can provide information related to flood forecasts up to 7 days on a real-time basis to the public.
Provide State-wise/Basin-wise Flood Forecast up to 24 hours.,
Version 2.0 provides information on flood forecasts at 592 flood monitoring stations. Earlier, it provided information at 200 flood monitoring stations.
The 2,0 version provides additional information regarding the storage positions of 150 major reservoirs in the country.
The app provides information in English and Hindi language.
It provides information in text, and the user can also listen to the audio broadcast through the app.
The app is available for both Android and iOS devices.
International news
Ancient Solar Calendar Discovered in Turkey: A Glimpse into Prehistoric Timekeeping
In a groundbreaking discovery, archaeologists may have uncovered the world’s oldest solar calendar at the renowned archaeological site of Göbekli Tepe in southern Turkey. This finding, published in the journal Time and Mind on July 24, offers a fascinating glimpse into the sophisticated astronomical knowledge of our ancient ancestors.
Publication: The findings were published in Time and Mind on July 24.
Artifact: A large stone pillar with intricate carvings, estimated to be about 13,000 years old.
Calendar System: The pillar features 365 V-shaped symbols, suggesting a 365-day calendar similar to modern systems.
Lunar-Solar Hybrid: The calendar includes 12 lunar months and an additional 11 days, indicating advanced knowledge of both lunar and solar cycles.
Symbolism: The carvings include a “bird-like beast” with a V-shaped marking, possibly representing the summer solstice constellation from around 10850 B.C.
Turkey:
Capital: Ankara
Currency: Turkish lira
Official language: Turkish
Prime minister: Recep Tayyip Erdoğan
Economy news
Retail Inflation Eases to 5-Year Low of 3.5% in July
India’s retail inflation rate, as measured by the Consumer Price Index (CPI), fell to 3.54% in July, reaching a nearly 5-year low. This decline is attributed to a high base effect and a significant drop in food prices. The inflation rate has dipped below the Reserve Bank of India’s (RBI’s) medium-term target of 4% for the first time since August 2019. Despite this, the RBI is expected to maintain its current policy stance.
Food Inflation
Food inflation decreased substantially to 5.42% in July from 9.36% in June. Key contributors to this decline include reduced price increases for vegetables (6.83%), cereals (8.14%), fruits (3.84%), milk (2.99%), and sugar (5.22%). However, pulses saw a double-digit rise of 14.8%, and protein-rich items like eggs (6.76%) and meat and fish (5.97%) experienced higher inflation.
Banking news
Axis Bank Launches “PRIMUS” Ultra-Premium Credit Card for Ultra-High-Net-Worth Individuals
Axis Bank has partnered with Visa Inc. to launch the “PRIMUS” credit card, targeting Ultra-High-Net-Worth (UHNW) individuals in India.
Exclusive Offering: The card is offered by invitation only and provides bespoke privileges and benefits tailored for UHNW clients, positioning it as a potential alternative to the Citibank Ultima credit card.
Launch Locations: The PRIMUS card was introduced in New Delhi and Mumbai during the “Axis Bank PRIMUS Soiree.”
Joining Fee & Benefits: The card has a joining fee of Rs 1.8 lakh, offering unlimited domestic airport lounge access and international lounge access through Priority Pass membership.
About Axis Bank Limited:
Managing Director (MD) & Chief Executive Officer (CEO): Amitabh Chaudhry
Headquarters: Mumbai, Maharashtra
Tagline: Badhti ka Naam Zindagi
Established: 1993
Appointment news
Raj Kumar Chaudhary Takes Helm as Chairman & Managing Director of NHPC Ltd
In a significant development for India’s hydroelectric power sector, NHPC Limited has announced the appointment of Shri Raj Kumar Chaudhary as its new Chairman & Managing Director. This appointment marks a crucial milestone for the company, bringing on board a leader with extensive experience and a proven track record in hydroelectric power development.
NHPC:
Founded: 7 November 1975
Headquarters: Faridabad
NPCI Spins Off BHIM App into Independent Subsidiary with Lalitha Nataraj as CEO
The National Payments Corporation of India (NPCI) is spinning off its Bharat Interface for Money (BHIM) app into a standalone subsidiary to bolster its presence in the digital payments market.Lalitha Nataraj, previously with IDFC FIRST Bank and ICICI Bank, has been appointed as CEO of this new entity.
NPCI is transforming BHIM into a standalone subsidiary to strengthen its role in digital payments.
This move aims to reduce concentration risks in India’s UPI market, where PhonePe and Google Pay dominate with 85% of transactions.
BHIM currently handles only 0.16% of UPI transactions, necessitating diversification efforts.
Lalitha Nataraj, with experience from IDFC FIRST Bank and ICICI Bank, has been appointed CEO of the new entity.
Science and tech news
Neelakurinji (Strobilanthes kunthiana) Listed as Vulnerable on IUCN Red List
Neelakurinji, a purplish flowering shrub native to the Western Ghats and parts of Tamil Nadu, Karnataka, and Kerala, is now listed as “Vulnerable” on the IUCN Red List.
Bloom Cycle: The plant blooms once every 12 years, between mid-July and October, in high-altitude shola grasslands.
Distribution: It is found in 34 subpopulations across 14 ecoregions, primarily in the Western Ghats and one in the Eastern Ghats.
Habitat Threats: Over 40% of Neelakurinji’s habitat has been lost due to human activities, contributing to its vulnerable status.
Sports day
PR Sreejesh Appointed as New Head Coach of India’s Junior Men’s Hockey Team
Hockey India (HI) has officially announced that PR Sreejesh, the retiring goalkeeper of the Indian hockey team, will take on the role of head coach for the Indian junior men’s hockey team. This decision follows India’s achievement of winning a bronze medalat the 2024 Olympics.
Announcement and Significance
The announcement was made on August 8, 2024,after India secured a bronze medal with a 2-1 victory over Spain. Sreejesh’s critical saves during the match played a crucial role in the team’s success. Transitioning from a player to a coach marks a significant shift in Sreejesh’s career.
Hockey India’s Statement
Hockey India celebrated the news on social media, particularly on Instagram, with a post praising Sreejesh: “The Legend makes another Legendary move. P R Sreejesh has been appointed as the new head coach of the Jr. Men’s Hockey Team. From playing to coaching, you continue to inspire all the youngsters. Looking forward to your coaching stint!”
ICC Players of the Month for July 2024 Announced
The International Cricket Council (ICC) has revealed the recipients of the ICC Players of the Month awards for July 2024.England’s Gus Atkinson and Sri Lanka’s Chamari Athapaththu have been crowned as the standout performers in men’s and women’s cricket, respectively, for their exceptional contributions to the sport during the month.
Gus Atkinson, a 26-year-old fast bowler, made a significant impact in Test cricket, contributing to England’s 3-0 series win against the West Indies.
Chamari Athapaththu, captain of the Sri Lankan women’s team, showcased remarkable leadership and batting skills, leading Sri Lanka to victory in the Women’s Asia Cup.
Prasar Bharati-BCL Sign Landmark Deal to Promote Cricket
The Big Cricket League (BCL) is set to make its debut on the Indian cricket landscape,promising a unique blend of local talent and cricketing legends. This franchise-based T20 event is poised to offer aspiring players an unprecedented opportunity to showcase their skills alongside established stars, potentially reshaping the future of Indian cricket.
Broadcasting Partnership: A long-term deal with Prasar Bharati ensures nationwide coverage on DD Sports and international exposure in over 30 countries.
Teams: Six regional teams will compete, including Awadh Lions, Northern Challengers, Rajasthan Kings, Mumbai Marines, Southern Spartans, and Bengal Rhinos.
Leadership: The league is governed by a council including Dilip Vengsarkar, Rudra Pratap Singh, and Courtney Walsh.
Impact: The BCL aims to nurture local talent, increase cricket’s reach, and foster mentorship between established and emerging players.
Defence news
DRDO Successfully Test Long Range Glide Bomb ‘GAURAV’ From Su-30 MK-1
The Defence Research and Development Organisation (DRDO) on August 13, 2024 successfully carried out the maiden flight test of the long-range glide bomb (LRGB)Gaurav from a Su-30 MK-I fighter jet of the Indian Air Force.
Gaurav is a 1,000 kg class air-launched glide bomb designed for precision targeting over long distances.
Developed indigenously by the Research Centre Imarat, Hyderabad.
The bomb successfully hit its target on Long Wheeler’s Island with high accuracy, with flight data captured using telemetry and optical tracking systems.
Important days
World Organ Donation Day 2024: Know Date, History and Significance
World Organ Donation Day is observed every year on August 13 to raise awareness about the importance of organ donation and encourage people to register as organ donors. Organ Donation Day serves as a crucial reminder of the importance of this life-saving act. In India, the government has taken significant steps to promote organ donation through nationwide campaigns and educational programs.
Legal Framework for Organ Donation in India: Key Points
The Transplantation of Human Organs and Tissues Act of 1994 serves as the primary legislation governing organ donation and transplantation in India. It establishes a structured and ethical approach to these practices. The key provisions include:
Universal Eligibility: Individuals from all backgrounds, irrespective of age, caste, religion, or community, can donate organs.
Age Consideration: Although there’s no strict age limit, donors over the age of 18 are generally preferred.
Ethical Standards: The act mandates ethical guidelines to ensure that organ donation and transplantation are carried out with integrity and transparency.
Obitutary news
Padma Bhushan Awardee Kunwar Natwar Singh Passes Away at 93
Kunwar Natwar Singh, a distinguished diplomat and former External Affairs Minister, was born in 1929 in Bharatpur, Rajasthan. He passed away at the age of 93 in Gurugram, Haryana.
Awards: He was honored with the Padma Bhushan in 1984 for his contributions to civil service.
Diplomatic Career:
Joined the Indian Foreign Service (IFS) in 1953.
Served as India’s Deputy High Commissioner to the UK (1973-1977) and High Commissioner to Zambia in 1977.
Served as India’s Ambassador to Pakistan (1980-1982).
Held the position of Secretary in the Ministry of External Affairs (MEA) from 1982 to 1984.
Served as the Secretary-General of the 7th Non-Aligned Movement (NAM) Summit held in New Delhi in 1983.Top of Form
India’s return of six medals from the just-concluded Paris Olympics can be termed underwhelming at best. The nation secured one silver and five bronze medals, down from seven at Tokyo 2020 that included a gold and two silvers. At a time when the country is looking to diversify its sporting excellence, has found exuberant support from the government and big corporates, and was aiming for a double-digit medal yield, the Olympic fortnight belied expectations. There were indeed new heroes — shooters Manu Bhaker, Sarabjot Singh and Swapnil Kusale, and wrestler Aman Sehrawat are now household names. The men’s hockey team finishing on the podium for a second straight time and Neeraj Chopra adding a silver to his historic javelin gold from Tokyo are top-notch efforts. But the dependence on a select few to repeatedly deliver, the near-zero presence in disciplines such as swimming and gymnastics, and wrestler Vinesh Phogat being disqualified for being above the weight threshold cast a dark shadow. The need of the hour is thus to broaden the base, increase participation and distribute funding more equitably to usher in a grass-roots revolution. The onus is also on the Union Sports Ministry to bring errant federations — often dens of nepotism and corruption — in line with the National Sports Code, fix accountability and decentralise governance.
As much as the Olympics is about winning and the shaping of national identities, it is also the greatest stage on earth to showcase the triumph of human will. This was best exemplified by the Netherlands’ Sifan Hassan, the first since Emil Zatopek in 1952 to collect medals in 5,000m, 10,000m and marathon, Kenya’s Faith Kipyegon, the first woman to win three consecutive 1,500m titles, Cuba’s Mijain Lopez, who won a fifth individual gold on the trot in 130kg Greco-Roman wrestling, Novak Djokovic, who at 37 and with a surgically repaired knee, won the elusive singles gold in tennis, and Algerian boxer Imane Khelif, who braved incendiary attacks on her gender to rise to the top. Sweden’s Armand Duplantis broke the men’s pole vault record for an astonishing ninth time (6.25m) while swimmer Katie Ledecky, gymnast Simone Biles and hurdler Sydney McLaughlin-Levrone achieved transcendence by stretching their numbers to nine, seven and four Olympic golds, respectively. France did well as a host, winning 16 golds, its best figures in a century. The star was 22-year-old swimmer Leon Marchand, who bagged four golds to position himself as the best of this generation. Athletics, in the post-Usain Bolt era, was on the lookout for one such champion, but as Paris proved, that is a tough act to follow.
Word
Meaning
Symons
Antonym
Disciplines
“Disciplines” refers to distinct branches of knowledge, fields of study, or areas of expertise.
Fields Areas of study Branches
Indiscipline (lack of discipline) Disorder (lack of order or structure) Chaos (complete disarray)
Exemplified
“Exemplified” means to show or illustrate something by providing a clear example.
Demonstrated Illustrated Showcased Represented
Obscured Concealed Hid Confused
Incendiary
Something that is designed to start fires. For example, an “incendiary device” or “incendiary bomb” is a tool or weapon specifically created to cause a fir
Vice President flagged off Har Ghar Tiranga Bike Rally from Bharat Mandapam in Delhi
Vice President Jagdeep Dhankhar flagged off the Har Ghar Tiranga Bike Rally from Bharat Mandapam in New Delhi this morning.
Culture Minister Gajendra Singh Shekhawat and Parliamentary Affairs minister Kiren Rijiju were also present on the occasion.
The rally will end at Major Dhyan Chand National Stadium. The ‘Har Ghar Tiranga’ campaign is part of the Azadi Ka Amrit Mahotsav, designed to bring the tricolor into homes across the nation.
MP govt gives cash to girl students to buy sanitary napkins
The Dr Mohan Yadav government in Madhya Pradesh has become the first state government in India to provide cash to adolescent girls to buy sanitary napkins. The cash is being provided under the state government’s Sanitation and Hygiene scheme.
Many state governments in India provide free sanitary napkins to adolescent girls, but none of them give cash to the beneficiaries.
Main features of the Cash for Sanitary Napkins scheme
School girls from class seventh to twelfth are eligible for these cash benefits.
They will get Rs three hundred for one year.
The government has transferred more than 57 crore 18 lakh rupees to more than 19 lakh beneficiary girl students.
Udita Scheme of the Madhya Pradesh Government
The state government launched the Udita Scheme on 1 November 2016 under its Women and Child Development Project to address the myths and taboos related tomenstruation.
The Scheme is being implemented through Anganwadi workers and assistants.
The first phase of the scheme was implemented in Gwalior, Indore and Badwani and later in all the districts of Madhya Pradesh.
Adolescents and women in the age group of 18 to 49 years are eligible under the Udita scheme.
Aim of the Scheme
The aims of the Udita scheme are as follows:
To create awareness and educate adolescent girls about the importance of proper hygiene during menstruation and overall menstrual management.
dispelling the doubts and myths related to this topic,
encourage adolescent girls to use quality sanitary pads,
increase the availability of sanitary pads in villages and increase its accessibility,
proper disposal of used sanitary napkins
create awareness among adolescents about anaemia,
create awareness among adolescents about Nutrition,
provide free sanitary napkins to adolescent girls and women.
Madhya Pradesh:
Capital: Bhopal (Executive Branch)
Governor: Mangubhai C. Patel
One India-One Ticket’ to boost tourism
The Indian Railway Catering and Tourism Corporation (IRCTC) and the National Capital Region Transport Corporation (NCRTC) have collaborated to launch ‘One India-One Ticket’ initiative to enhance the travel experience for passengers on Indian Railways and Namo Bharat Trains. It will allow passengers to book Namo Bharat tickets through IRCTC platform with flexible cancellation and payment.
IRCTC in a statement said that passengers can generate Unique QR code for Namo Bharat train ticket. The code will be valid for 4 days around the journey date options. Namo Bharat tickets can be booked up to 120 days in advance, aligning with the current Railway reservation window.
Banking news
UPI merchant transactions in Nepal cross 100,000 milestone
NPCI International Payments Limited (NIPL) has exceeded 100,000 cross-border Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions in Nepal.
Partnership: This success follows NIPL’s collaboration with Fonepay, Nepal’s largest payment network, which started in March 2024.
Global Reach:UPI, supported by a mobile-based real-time payment system, is widely accepted across several countries, including Bhutan, France, Mauritius, Singapore, Sri Lanka, and the UAE, establishing it as a major real-time payment platform worldwide.
On August 2024, during President Droupadi Murmu’s official visit to New Zealand, India and New Zealand formalized a Bilateral Customs Cooperation Arrangement to streamline trade between the two nations. This agreement aims to facilitate easier and more efficient trade processes.
Visit Highlights:
Itinerary:President Murmu’s three-nation tour includes Fiji, New Zealand, and Timor Leste, with her visit to New Zealand on August 8 and 9, 2024.
Previous Visits: The last visit by an Indian President to New Zealand was by Pranab Mukherjee in May 2016.
Welcome Ceremony:President Murmu was greeted with a traditional Maori welcome in Wellington.
Formal Meetings: She was welcomed by New Zealand’s Governor General Dame Cindy Kiro and met with Deputy Prime Minister and Foreign Minister Winston Peters. Discussions included collaboration on traditional medicine through the WHO Global Centre for Traditional Medicine in Jamnagar, Gujarat.
Conference Address: President Murmu spoke at the New Zealand International Education Conference, where India was the Guest of Honour.
India-New Zealand Relations:
Diplomatic History: India established a Trade Mission in New Zealand in 1950, upgraded to a High Commission.
Trade Statistics: As of June 2023, India is New Zealand’s 15th largest trading partner with trade valued at US$1.56 billion.
Imports from New Zealand: Wool, edible fruits & nuts, forestry products.
Exports to New Zealand: Precious metals and gems, textiles, motor vehicles, pharmaceuticals, non-knitted apparel.
About New Zealand:
Location: An archipelago in the South Pacific Ocean.
Unique Species: Home to the flightless Kiwi bird.
Historical Milestone: Edmund Hillary, a New Zealander, was the first to climb Mount Everest in 1953.
Indigenous Population: Maoris.
Independence: Gained from the UK in 1947, part of the Commonwealth.
Head of State: Represented by UK Monarch, King Charles III.
Capital: Wellington
Currency: New Zealand Dollar
Prime Minister: Christopher Luxon
Appointment News
T.V. Somanathan Appointed as New Cabinet Secretary
Senior IAS Officer T.V. Somanathan has been appointed as the new Cabinet Secretary of India, succeeding Rajiv Gauba, whose term ends this month.Somanathan will begin his two-year tenure on August 30, 2024. He will also serve as Officer on Special Duty (OSD) in the Cabinet Secretariat until he formally assumes the role of Cabinet Secretary.
Rajiv Gauba’s Tenure
Duration:Rajiv Gauba has served as Cabinet Secretary for five years, a record term. His tenure included three extensions, with the most recent one granted in August 2023.
Achievements:Gauba is recognized for his role in the Jammu and Kashmir Reorganisation Act, 2019, which led to the bifurcation of the state into two Union Territories.
Award news
Shah Rukh Khan Honored with Career Achievement Award at 77th Locarno Film Festival
Shah Rukh Khan received a career achievement award on August 10, 2024, at the Locarno Film Festival’s Piazza Grande, addressing an audience of 8,000.
Views on Cinema: He described cinema as a profound artistic medium that transcends boundaries and emphasized that art’s purpose is to affirm life.
Reflections on Creativity: Khan highlighted love as the foundation of creativity, connecting it to universal understanding and joy.
Humorous Award Renaming: He humorously renamed his award the “Leopard award for being the most awesome in the world, in the history of humility and kindness and goodness.”
Agreement news
SAMEER Partners for Large-Scale Production of Advanced Brix Measurement System
The Society for Applied Microwave Electronics Engineering & Research (SAMEER) has signed a Transfer of Technology (ToT) agreement with Toshniwal Hyvac Pvt. Ltd. and Sir Automation Industries to enable large-scale manufacturing of a Microwave-Based Brix Measurement System.
Technology Overview: Developed by SAMEER, this system provides a rapid, non-destructive, and precise method for measuring sugar concentration (Brix) in real-time during sugar production. It eliminates manual sampling, reducing production time and increasing efficiency.
Alignment with PM’s Vision: This technology supports the PM’s vision of “Jai Jawan, Jai Kisan, Jai Vigyan, Jai Anusandhan” by fostering indigenous advancements in the sugar industry in India.
Ranking and report news
IIT-Madras retains Top Ranking in the 9th NIRF 2024 Overall Category
The Indian Institute of Technology(IIT) Madras has retained its top spot in the recentlyreleased 9th India Rankings report which ranks the High Educational Institutions in India.
IIT Madras retained its first position in the Overall Category for the sixth consecutive year, from 2019 to 2024.
The 9th Indian Rankings report was released by the Union Minister for EducationDharmendra Pradhan on 12 August 2024 in New Delhi.
About India Rankings
The Union Ministry of Human Resource Development approved the National Institutional Ranking Framework (NIRF) in 2015. The Ministry was later renamed as the Union Ministry of Education.
The NIRF outlines a methodology for ranking the country’s higher educational Institutions (HEIs). The HEIs are ranked on five parameters: Teaching, Learning and Resources, Research and Professional Practices, Graduation Outcomes, Outreach and Inclusivity, and Perception.
The ministry released the first Indian Ratings of the country’s HEIs in 2016 based on the NIRF.
Changes in the 9th India Ranking of HEIs
In the 9th India Ranking, two changes have been made as compared to the 8th edition.
State Public Universities, Open Universities, and Skill Universities categories have been added.
Innovation Institution category has been included in the India Ranking.
Top Three Institutions in the 9th India Ranking 2024
Here is the list of the top three institutions in the following categories.
Overall Categories
Ranking
Institution
Year of Establishment
City
State/Union Territory
1
IIT-Madras
1959
Chennai
Tamil Nadu
2
Indian Institute of Science
1909
Bengaluru
Karnataka
3
IIT Bombay
1958
Mumbai
Maharashtra
Universities
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Indian Institute of Science
1909
Bengaluru
Karnataka
2
Jawaharlal Nehru University
1969
New Delhi
Delhi
3
Jamia Millia Islamia
1920
New Delhi
Delhi
State Public Universities
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Anna University
1978
Chennai
Tamil Nadu
2
Jadavpur University,
1955
Kolkata
West Bengal
3
Savitribai Phule University
1949
Pune
Maharashtra
Open University
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Indira Gandhi National Open University (IGNOU)
1985
New Delhi
Delhi
Skill Universities
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Symbiosis Skills and Professional University
2107
Pune
Maharashtra
Colleges
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Hindu College
1899
New Delhi
Delhi
2
Miranda House,
1948
New Delhi
Delhi
3
Ramakrishna Mission Vidyamandira
1941
Howrah
West Bengal
Research Institutions
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Indian Institute of Science
1909
Bengaluru
Karnataka
2
Indian Institute of Technology Madras,
1959
Chennai
West Bengal
3
Indian Institute of Technology Delhi
1961
New Delhi
Delhi
Innovation Institutions
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Indian Institute of Technology Bombay
1958
Mumbai
Maharashtra
2
Indian Institute of Technology Madras,
1959
Chennai
West Bengal
3
Indian Institute of Science, Bengaluru
1909
Bengaluru
Karnataka
Engineering
Ranking
Institution
Year of Establishment
City
State /Union Territory
1
Indian Institute of Technology Madras,
1959
Chennai
West Bengal
2
Indian Institute of Technology Delhi
1961
New Delhi
Delhi
3
Indian Institute of Technology Bombay
1958
Mumbai
Maharashtra
Books and author news
‘75 Great Revolutionaries of India’ Book Launch Celebrates Unsung Heroes
Rajya Sabha Deputy Chairman Harivansh Narayan Singh attended the book launch of ’75 Great Revolutionaries of India’ by MP Bhim Singh on August 11, 2024.
Focus on Lesser-Known Heroes: Singh praised the book for its spotlight on lesser-known freedom fighters and its meticulous research.
Inspirational Goal: The book is intended to inspire efforts towards a ‘Viksit Bharat’ (Developed India) by drawing strength from the stories of these revolutionaries.
Defence news
10th bilateral Mitra Shakti Military Exercise Commences in Sri Lanka
The 10th annual Mitra Shakti military exercise between the Indian Army and the Sri Lankan Army began on August 12, 2024, at the Sri Lankan Army Training School in Maduru Oya. The exercise will run until August 25.
Objective: The exercise aims to strengthen military-to-military ties and bilateral relations between India and Sri Lanka, focusing on anti-terrorist operations in urban areas.
Historical Context: Initiated in 2012, the Mitra Shakti exercise alternates between India and Sri Lanka. The 2024 edition marks the 10th iteration, following the 9th edition held in Pune, India, in 2023.
Participants:This year, the Rajputana Rifles from India and the Gajaba Regiment from Sri Lanka are participating. The exercise involves each side deploying one Infantry Battalion, three Armoured Tanks, four BMP tanks, five to ten Artillery observers, and fifty Engineers personnel.
Phases of the Exercise:
Phase One: Static display and demonstration of weapons and equipment by both sides.
Phase Two: Training and rehearsals, including night training.
Phase Three: Sports competition to foster friendship and camaraderie.
Phase Four: Comprehensive exercise involving both armed forces.
International Youth Day 2024, Date, Theme and History
International Youth Day, observed annually on August 12th, is a global celebration that recognizes the contributions of young people to society and addresses the challenges they face. The day serves as a platform to raise awareness about socio-economic and socio-political issues affecting youth worldwide.
The 2024 theme, “From Clicks to Progress: Youth Digital Pathways for Sustainable Development,” highlights the crucial role of digital technologies in advancing the United Nations Sustainable Development Goals (SDGs)
History of International Youth Day
Establishment and First Celebration:
1999:The United Nations officially declared August 12 as International Youth Day.
August 12, 2000: The first official celebration of International Youth Day took place.
Origins and Development:
1965:The United Nations General Assembly began its efforts to educate and inspire youth.
December 17, 1999:The World Conference of Ministers Responsible for Youth in Lisbon proposed the establishment of International Youth Day.
ISLRTC and AWES Partner to Promote Indian Sign Language and Enhance Accessibility for Deaf Students
the Indian Sign Language Research and Training Centre (ISLRTC) signed a Memorandum of Understanding (MoU) with the Army Welfare Education Society (AWES) to promote Indian Sign Language (ISL) and enhance accessibility for students who are deaf or hard of hearing.
Key People Involved:
N. Honnareddy: Director of ISLRTC, who signed the MoU.
Major General P.R. Murali: Managing Director (MD) of AWES, who also signed the MoU.
Rajesh Aggarwal: Secretary, Department of Empowerment of Persons with Disabilities (DEPWD), Ministry of Social Justice and Empowerment (MOSJE), who chaired the signing ceremony.
Key Points of the MoU:
Training and Promotion: The partnership aims to train school administrators, students, parents, and teachers to promote Indian Sign Language (ISL), with a special focus on enhancing sign language skills among the faculty of Army Public Schools (APS).
Empowerment and Integration: The collaboration is intended to expand the reach and effectiveness of ISL initiatives, contributing to the empowerment and integration of the Deaf community.
Educational Impact: This partnership is expected to significantly impact the educational ecosystem by empowering educators and fostering an inclusive environment for students who are deaf or hard of hearing.
About the Indian Sign Language Research and Training Centre (ISLRTC):
Type: Autonomous body under the Department of Empowerment of Persons with Disabilities (DEPWD).
Director: N. Honnareddy
Headquarters: New Delhi, Delhi
Established: 28th September 2015
About the Army Welfare Education Society (AWES):
Purpose: Provides quality education to the children of Indian Army soldiers.
Managing Director (MD): Major General P.R. Murali (Retd.)
Headquarters: New Delhi, Delhi
Established: 1983
India-Nepal MoU for Launch of Munal Satellite
Ministry of External Affairs (India) and NewSpace India Limited (NSIL) signed an MoU for the launch of Nepal’s Munal satellite.
Signatories: Shri Anurag Srivastava (MEA) and Shri Arunachalam A (NSIL) signed the MoU.
Witnessed by EAM: External Affairs Minister of India witnessed the exchange of the Launch Service Agreement during his visit to Nepal.
Munal Satellite: Developed by Nepal’s NAST, with assistance from Antarikchya Pratishan Nepal (APN), designed to build a vegetation density database.
Launch Vehicle: The satellite will be launched on NSIL’s Polar Satellite Launch Vehicle (PSLV).
Ministry of external affairs: Officeholder: S. Jaishankar (Union Minister)
Chhattisgarh Approves Country’s Third Largest Tiger Reserve
Chhattisgarh clears the proposal for Guru Ghasidas-Tamor Pingla Tiger Reserve, the third largest in India, spanning 2,829 sq km across four northern districts.
Declining Population: Chhattisgarh’s tiger population dropped from 46 in 2014 to 17 in 2022, according to a 2023 NTCA report.
States with Small Populations: States like Mizoram, Nagaland, Jharkhand, Goa, Chhattisgarh, and Arunachal Pradesh report low tiger populations.
Eco-tourism & Employment: The reserve aims to boost eco-tourism and create jobs for local villagers in the core and buffer zones.
Legal Push: The decision follows a 2019 PIL and a high court order in July 2023 urging the state to act.
Largest Reserves: Nagarjunasagar Srisailam (Andhra Pradesh) is the largest, followed by Manas (Assam).
Chhattisgarh:
Chief Minister (CM): Bhupesh Baghel (Vishnu Deo Sai is a former CM)
Governor: Ramen Deka
Wildlife Sanctuaries:
Tamor Pingla Wildlife Sanctuary
Udanti Wild Buffalo Wildlife Sanctuary
Tiger Reserve: Indravati Tiger Reserve
Odisha Launches India’s First ‘Rice ATM’
Odisha has introduced India’s first round-the-clock grain dispensing machine, known as the Annapurti Grain ATM, designed to transform the Public Distribution System (PDS) for ration cardholders. Officially launched by Food Supplies and Consumer Welfare Minister Krushna Chandra Patra, this innovative machine is located at a warehouse in Mancheswar and developed in collaboration with the World Food Programme.
Operation: Dispenses up to 50 kg of rice in 5 minutes with a 0.01% error rate. Users enter their ration card number, complete biometric verification, and receive up to 25 kg of rice.
Benefits:
Reduced Queues: Minimizes waiting times at traditional distribution points.
Decreased Theft: Reduces fraud and black marketing.
Accuracy: Ensures precise distribution and cuts waiting times by 70%.
24/7 Access: Provides continuous availability.
Expansion Plans:
Initial Deployment: Launched in Bhubaneswar, with plans for statewide expansion.
Energy Efficiency: Consumes 0.6 watts per hour, compatible with solar panels.
KYC Updates: Implementing Aadhar-based e-KYC verification for transparency.
New Initiatives: Individual ration cards, home delivery for vulnerable groups, and a special biometric system for those with thumb impression issues.
odisha:
Capital: Bhubaneswar
Chief minister: Mohan Charan Majhi
Bill Gates Foundation to set up FSTP at Sarovaram
The city of Kozhikode in Kerala, India, is set to receive a significant upgrade to its waste management infrastructure.Bill and Melinda Gates Foundation, in collaboration with the Habitat Charitable Trust, has proposed the construct of a state-of-the-art faecal sludge treatment plant (FSTP) at Sarovaram. This development marks a crucial step towards improving sanitation and water hygiene in the region.
New Faecal Sludge Treatment Plant (FSTP) in Kozhikode:
Location & Capacity: The FSTP will be located at Sarovaram, within the premises of the proposed sewage treatment plant (STP) of the Kozhikode Corporation. It has a capacity of 200 KLD (0.2 MLD).
Financial Investment: The project, costing ₹36 crore, is fully funded by the Bill and Melinda Gates Foundation and the Habitat Charitable Trust, ensuring no financial burden on the Kozhikode Corporation
Kerala:
Capital: Thiruvananthapuram
Governor: Arif Mohammad Khan
Chief minister: Pinarayi Vijayan
Centre Forms Committee to Monitor Bangladesh Border Situation
In response to the volatile situation in Bangladesh, India has set up a committee to monitor the Indo-Bangladesh border and ensure the safety of Indian nationals and minority communities.
Committee Details:
Chair: ADG, Border Security Force (BSF), Eastern Command.
Members:
IG, Frontier HQ, South Bengal, BSF.
IG, BSF Frontier HQ, Tripura.
Member (Planning & Development), Land Ports Authority of India (LPAI).
Secretary, LPAI.
Recent Developments:
Incident Reports: On August 7, Bangladeshi nationals gathered near the International Boundary (IB) fearing violence. BSF intervened, ensuring safety and security.
Actions Taken: BSF coordinated with local authorities and Border Guard Bangladesh (BGB), escorting 35 civilians back home and deploying additional forces.
Background: Unrest in Bangladesh escalated after the resignation of former PM Sheikh Hasina, with anti-government protests and attacks on Awami League supporters and minority communities, prompting India’s precautionary measures at the border.
Indian Gold Sector Establishes First Self-Regulatory Body to Boost Consumer Trust
The Indian Gold sector, with support from the World Gold Council (WGC), has established its first self-regulatory body, the Indian Association for Gold Excellence and Standards (IAGES).
This initiative aims to promote fair, transparent, and sustainable practices within the bullion industry, covering the entire value chain—from bullion trade and refinery to manufacturing, retailing, and digital platforms.
Economy news
Government of India Relaxes Long-Term Capital Gains (LTCG) Rules for Real Estate
The Government of India (GOI) announced that it has relaxed Long Term Capital Gains (LTCG) Rules on real estate which will provide relief to property owners in India.
Now property owners will have the option to choose between two tax rates either a 20% rate with indexation benefits, or a 12.5% rate without indexation for properties purchased before July 23, 2024 to ensure lower tax ability.
Key Changes:
Option for Tax Rates: Property owners can now choose between two LTCG tax rates:
20% with indexation benefits
12.5% without indexation
Eligibility: This option is available for properties purchased before 23rd July 2024.
Indexation:
Indexation is a method to adjust capital gains for inflation during the ownership period, calculated using the Cost Price Index (CPI).
Background:
In July 2024, Union Finance Minister Nirmala Sitharaman proposed reducing the LTCG tax rate on real estate from 20% to 12.5%, removing the benefit of indexation in the Union Budget for FY25 (2024-25).
Holding Period: Real estate assets are considered long-term if held for a minimum of 24 months (2 years).
Eligibility Specifics:
The new rules apply to individuals and Hindu Undivided Families (HUFs) who acquired property before 23rd July 2024.
Exclusions:Non-Resident Indians (NRIs), companies, and Limited Liability Partnerships (LLPs) are not eligible for this benefit.
The change applies to both residential and commercial properties.
Banking news
Power Finance Corporation Secures ¥25.5 Billion Loan from Japan Bank for International Cooperation for Karnataka Wind Energy Project
The Power Finance Corporation Limited (PFC), under the Ministry of Power, has secured a long-term loan of 25.5 billion Japanese Yen (approximately ₹1,454 crore) from the Japan Bank for International Cooperation (JBIC). This loan will finance the 300.3 MW Wind Energy Project of Ostro Kannada Power Private Ltd (OKPPL) in Chitradurga, Karnataka.
Key Points:
The loan is co-financed by Sumitomo Mitsui Banking Corporation (SMBC), the Bank of Yokohama Limited (BOY), the Shiga Bank Ltd, and the Bank of Fukuoka Ltd (BoF).
This loan is part of a credit line signed between JBIC and PFC in July 2022, specifically for renewable energy projects and energy-efficient power generation and heat supply projects.
The loan falls under JBIC’s “Global Action for Reconciling Economic Growth and Environmental Preservation (GREEN)” initiative, which aims to promote sustainable development and reduce carbon emissions.
About Power Finance Corporation (PFC):
Chairman and Managing Director (CMD): Parminder Chopra
Headquarters: New Delhi, Delhi
Established: 1986
Appointment news
Praveena Rai Appointed as New MD & CEO of Multi Commodity Exchange of India Limited (MCX)
The Securities and Exchange Board of India (SEBI) has approved the appointment of Praveena Rai as the new Managing Director (MD) and Chief Executive Officer (CEO) of MCX, India’s largest commodity exchange.
Vacancy: The MD & CEO position at MCX has been vacant since 9th May 2024, after the previous MD, Padala Subbi Reddy (P.S. Reddy), completed his 5-year term.
Conditions: Praveena Rai’s appointment is subject to her acceptance of the offer and approval from MCX shareholders.
About Multi Commodity Exchange of India Limited (MCX):
Operations: MCX is a leading commodity derivatives exchange in India, offering online trading of commodity derivatives transactions.
Regulatory Framework: It began operations in November 2003 under the regulatory framework of SEBI.
Chairman: Dr. Harsh Kumar Bhanwala
Headquarters: Mumbai, Maharashtra
State news
Gujarat CM Bhupendra Patel Inaugurates IACC-MSME Centre of Excellence in Ahmedabad
On August 8, 2024, Bhupendra Patel, Chief Minister (CM) of Gujarat, inaugurated Indo- American Chamber of Commerce (IACC)’s first ever “IACC-MSME (Micro, Small and Medium Enterprises)Centre of Excellence (CoE)” for at the KCG auditorium, i-HUB campus in Ahmedabad, Gujarat.
Centre of Excellence (CoE) Overview:
Purpose: The IACC-MSME Centre of Excellence (CoE) aims to upgrade and strengthen Micro, Small, and Medium Enterprises (MSMEs) in Gujarat, preparing them to compete in global export markets.
Key Objectives:
Enhance the industrial relationship between India and the United States of America (USA).
Equip MSMEs with the skills and knowledge necessary for global market navigation and export enhancement.
Address challenges faced by Indian MSMEs and facilitate their access to the American market.
Additional Information:
Gujarat’s MSME Sector:
Operational MSMEs: 19.80 lakh registered MSMEs are operational in Gujarat.
Employment: These MSMEs employ nearly 1.07 crore people.
Sahitya Akademi Awardee & Renowned Scholar C. G. Rajagopal Passes Away at 93
A renowned scholar and translator C. G. Rajagopal, who won the Sahitya Akademi Translation Award in 2019 passed away at the age of 93. He was born in 1932 in Kerala.
He received the Sahitya Akademi Translation Award for translating ‘Sreeramacharitamanasam (Thulasidasaramayanam)’ from Hindi to Malayalam.
The original book ‘Sree Ramacharithamanasa (Poetry), Hindi, was authored by Thulasidas.
He was the founder president of Drishyvedi, a kathakali connoisseur’s association and he is the former Chancellor of Amrit Bharati Vidyapeeth.
He also received the Kamala Goenka Foundation’s Satyanarayana Goenka Anudith Sahitya Award for translation.
Sports news
2024 Paris Olympics Ends, Los Angeles to Host 34th Summer Olympics
Closing Ceremony:
The 33rd Summer Olympics ended on August 11, 2024, in Paris, France.
International Olympic Committee (IOC) President Thomas Bach and French swimmer Leon Marchand extinguished the Olympic flame.
The Olympic flag was handed over to Los Angeles, USA, which will host the 34th Summer Olympics in 2028.
Paris and Los Angeles Olympic Hosting:
Paris hosted the Olympics for the third time (previously in 1900 and 1924).
Los Angeles will also host for the third time (previously in 1932 and 1984).
Indian Flag Bearers:
Opening Ceremony: PV Sindhu (Badminton) and Sharath Kamal (Table Tennis).
Closing Ceremony: Manu Bhaker (Shooting) and PR Sreejesh (Hockey).
India’s Performance:
India finished with 6 medals: 1 silver and 5 bronze.
Notable Medalists:
Silver: Neeraj Chopra (Javelin).
Bronze: Manu Bhaker (Women’s 10m Air Pistol), Manu Bhaker & Sarabjot Singh (10m Air Pistol Mixed Team), Swapnil Kusale (Men’s 50m Rifle 3 Positions), Men’s Hockey Team, Aman Sehrawat (Wrestling 57kg Freestyle).
India ranked 71st in the overall medal tally.
Aman Sehrawat made history by becoming the youngest Indian to win an Olympic medal. He secured a bronze medal in the men’s freestyle 57 kg wrestling event at the 2024 Paris Olympics, breaking the previous record held by PV Sindhu. Sindhu had won a silver medal at the 2016 Rio Olympics at the age of 21 years, 1 month, and 14 days.
Overall Medal Tally:
Top Countries:
1st: USA with 126 medals (40 Gold, 44 Silver, 42 Bronze).
2nd: China with 91 medals.
3rd: Japan with 45 medals.
Unique Features of the 2024 Paris Olympics:
Opening Ceremony: Held on the River Seine, a first for the Olympics.
Participation: Athletes from 206 National Olympic Committees and the IOC Refugee Olympic Team.
Events: 329 medal events across 32 sports and 48 disciplines.
Debut Sports: Breaking (breakdancing) introduced for the first time.
First-Time Medal Winners:
Countries Winning Their First Olympic Medal:
Albania, Cape Verde, Dominica, Saint Lucia, Refugee Olympic Team.
Countries Winning Their First Gold Medal:
Botswana, Dominica, Guatemala, Saint Lucia.
Mascot and Motto:
Mascot: Olympic Phryge, based on the traditional French Phrygian Hat in blue, white, and red.
Motto: “Alone, we go faster, but together, we go further.”
Defence news
IAF Su-30 MKI return after participating in Exercise Udara Shakti 2024
The Indian Air Force (IAF) contingent, consisting of seven Sukhoi-30 MKI fighter jets, returned to India on August , 2024, after participating in the bilateral Exercise Udara Shakti 2024.
The exercise was hosted by the Royal Malaysian Air Force (RMAF) at its Kuantan base in Malaysia from August 2024.
Opening Ceremony:
The opening ceremony was attended by key dignitaries, including Group Captain Ajay Rathi, the IAF team leader, Ms. Subhashini Narayanan, Deputy High Commissioner of India to Malaysia, and senior officers from the RMAF.
Deployment and Collaboration:
Both the IAF and RMAF deployed seven Sukhoi-30 fighter planes during the exercise.
The Sukhoi-30 fighter planes are procured from Russia, with the majority of the IAF’s fleet being produced domestically by Hindustan Aeronautics Limited (HAL) under a licensing agreement.
Significance of Sukhoi-30 MKI:
The Indian variant of the Sukhoi Su-30, known as the Su-30MKI, is one of the most advanced fighter jets in the IAF’s arsenal, tailored specifically for India’s needs.
India is one of the largest operators of the Sukhoi Su-30 fighter jets, alongside Russia.
Exercise Features:
Training Exercises: Focused on air combat scenarios involving the Sukhoi-30 fighter planes from both air forces.
Subject Matter Expert Exchange: Aimed at sharing knowledge, expertise, and skills in aviation and engineering related to the Sukhoi-30 aircraft.
HOP Exercise: Pilots from both nations flew each other’s Sukhoi fighter planes to test the aircraft, exchange ideas on combat tactics, and explore differences in equipment functionality.
Objectives of Exercise Udara Shakti 2024:
To enhance interoperability between the IAF and RMAF.
To exchange tactical knowledge and experience in operating the Sukhoi-30 fighter jets.
To strengthen defense ties between India and Malaysia through mutual learning and cooperation.
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0 on August, 2024.
The scheme envisages an investment of Rs 10 lakh crores.
Background:
PMAY-U 2.0 replaces the original PMAY-U, which was launched on June 25, 2015, and ended on December 31, 2024.
The initiative is part of the central government’s Housing for All policy, aimed at providing all-weather pucca houses to eligible beneficiaries in urban areas.
Duration and Goals:
PMAY-U 2.0 has a duration of five years.
It aims to facilitate the construction of one crore houses in urban areas for the urban poor and middle-class families.
Nodal Ministry: The Union Ministry of Housing and Urban Affairs is the nodal body responsible for implementing the PMAY-U 2.0 scheme.
Coverage: The scheme will cover all areas declared as towns by law and mentioned in the 2011 census across the country.
Beneficiaries:
Eligible beneficiaries include the Economically Weaker Section (EWS), Low Income Group (LIG), and Middle Income Group (MIG) in urban areas who do not have any pucca houses.
Income criteria for eligibility:
EWS: Annual income not exceeding Rs 3 lakh.
LIG: Annual income not exceeding Rs 6 lakh.
MIG: Annual income not exceeding Rs 9 lakh.
Assam Launches Mukhya Mantrir Nijut Moina Asoni (MMNMA) Scheme to Combat Child Marriage
Mukhya Mantrir Nijut Moina Asoni (MMNMA), a monthly financial assistance scheme, aimed at combating child marriage in Assam by 2026, during a program at Lok Sewa Bhawan in Guwahati, Assam. The scheme is expected to cost the exchequer around Rs.300 crore in the first year and Rs.1500 crore over 5 years. Under this scheme, 10 lakh girls (one million) will be supported with financial grants as admission incentives to pursue higher education.
Note:In the Dhubri and South Salmara districts of Assam, 50% of girls married before 18 years old.
Scheme Overview:
Objective: To combat child marriage in Assam and increase girls’ enrollment in higher education institutions.
Target: Support 10 lakh girls with financial grants to pursue higher education.
Cost: Rs. 300 crore in the first year and Rs. 1500 crore over 5 years.
Scheme Features:
Target Group: Girls enrolled in Government and Venture Educational Institutions (VEIS) in Higher Secondary (HS) 1st year, Graduation (1st year), and Post Graduation (PG) 1st year. Private Education Institutions (PEIS) are excluded.
Complementary: The scheme will work alongside the existing “Free Admission” scheme.
Financial Incentives:
Class 11: Rs 1000 per month until the completion of Class 12 board exams.
Graduation (1st year): Rs 1,250 per month for up to 3-4 years.
PG (1st year) / B.Ed.: Rs 2,500 per month until course completion.
Eligibility Criteria:
Open To: All girls who are legal residents of Assam.
Not Eligible: Married girls (except PG and B.Ed. categories), in-service B.Ed. candidates, daughters of Ministers, MPs, and MLAs, and girls receiving scooters under the Banikanta Kakati Award.
Context:
In Dhubri and South Salmara districts of Assam, 50% of girls are married before the age of 18.
The scheme aims to address this issue by encouraging higher education among girls.
Scientists need greater funding for research, not national awards
Later this month, 33 scientists will be awarded the Rashtriya Vigyan Puraskar (RVP), the current government’s revamped approach to independent India’s long tradition of annually awarding scientists with promise. The rejig is in doing away with the Shanti Swarup Bhatnagar (SSB) awards, once awarded to scientists under 45 by the Council of Scientific and Industrial Research (CSIR). It comprised a certificate, a cash prize and some additional monetary benefits. The RVP replaces it with a medal and a certificate and, renaming it the Vigyan Yuva-SSB. There are also other RVP awards — the Vigyan Shri, Vigyan Ratna and Vigyan Team awards. The latter will be for scientists over 45 who have made distinguished contributions in science and technology over their entire career as well, as for teams of scientists and technologists with exceptional contributions.
In theory the total number of awards, under all categories, is capped at 56, though those selected for this year are fewer than the ceiling. The team award has been conferred on the Indian Space Research Organisation’s ‘Chandrayaan-3 team’, which certainly has over three members. These may well be technicalities and, being the first edition of the prizes, could be transitional. The list of awardees spans a wide range of fields from astrophysics to agriculture, and this is not unique to the RVP, the awardees are overwhelmingly from centrally funded and the most elite of India’s scientific and research institutions such as the Indian Institutes of Technology, Indian Institutes of Science Education and Research, CSIR and atomic energy institutions. The RVP awards were instituted after the Ministry of Home Affairs and heads of science departments concluded in 2022 that there were too many awards being given out by individual scientific departments and that it was necessary to trim them and raise their ‘stature’ to national awards. While distinguished scientists have always received the Padma awards, just as those in other fields, the original schema for scientist-specific awards was to encourage them to stick to research, whose outcomes are not always immediately tangible and whose impact is not immediately assessed. Much like Olympic medals, Nobel Prizes continue to elude Indian scientists and this has been a touchy topic for many governments. The national awards are not a substitute or catalyst for the Nobels. The government should not assume that scientists only crave honour and recognition. Too many scientists in India labour with minimal funds, substandard equipment and a discouraging milieu, forcing them to compete at the cutting edge of research with their hands tied. Raising the budgetary allocation and making scientific research more rewarding in India will do greater service to science than tokenism.
Meaning of the word:
Word
Meaning
Synonyms
Antonyms
Revamped
It implies that something has been changed or modified to be better, more modern, or more effective than it was before.
Revised Updated Renewed Upgraded
Worsened Degraded Neglected Outdated
Conferred
“Conferred” generally means to have given, granted, or bestowed something, typically an honor, title, degree, or privilege. It can also refer to holding a discussion or consultation with others.
Granted Awarded Presented Entrusted
Withheld Refused Deprived Revoked
Overwhelmingly
“Overwhelmingly” is an adverb used to describe something that is done or felt to a very great extent, typically in a way that is powerful, dominant, or difficult to resist.
Extremely Vastly Greatly Completely
Slightly Minimally Partially Weakly
Crave
“Crave” is a verb that means to have a strong desire for something, often an intense longing or yearning for something specific, like food, attention, or an experience.
Banking Laws (Amendment) Bill 2024 Introduced in Lok Sabha
The Banking Laws (Amendment) Bill 2024 was introduced in the Lok Sabha today by Union Minister of State for Finance, Pankaj Choudhary.
This bill seeks to amend several significant banking laws to modernize and enhance the regulatory framework of the banking sector.
The amendments proposed include changes to the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949, the State Bank of India Act, 1955, and the Banking Companies (Acquisition and Transfer of Undertakings) Acts of 1970 and 1980.
The bill aims to streamline banking operations and align them with contemporary financial practices, reflecting the government’s commitment to improving the efficiency and effectiveness of banking regulations.
Lok Sabha Introduces Railways (Amendment) Bill 2024
The Lok Sabha saw the introduction of the Railways (Amendment) Bill 2024 by Railways Minister Ashwini Vaishnaw. The bill aims to amend the Railways Act of 1989 to enhance the powers of the Railways Board and improve operational efficiency.
Key provisions of the bill include the integration of the Indian Railway Board Act, of 1905 into the Railways Act, of 1989.
This move seeks to simplify the legal framework governing Indian Railways by repealing the Indian Railway Board Act, of 1905 and incorporating its provisions into the Railways Act.
The changes are intended to streamline the constitution and composition of the Railway Board, thereby boosting the overall efficiency of railway operations.
The bill was introduced to modernize and strengthen the administrative framework of Indian Railways.
Banking news
RBI Shortens Frequency of Credit Reporting to Fortnightly
The Reserve Bank of India (RBI) has revised the credit information reporting frequencyfrom monthly to every 15 days, effective immediately.
Objective: The change aims to enhance the accuracy and timeliness of credit data, benefiting both lenders and borrowers.
Faster Updates for Borrowers: Borrowers will see quicker updates in their credit reports, allowing positive financial actions, such as loan repayments, to be reflected more promptly.
Enhanced Accuracy: More frequent updates ensure that credit reports are up-to-date, offering a clearer and more accurate assessment of a borrower’s financial health, potentially leading to better loan terms.
RBI:
Founded: 1 April 1935, Kolkata
Headquarters: Mumbai
governor: Shaktikanta Das
Pine Labs-owned Setu Launches UPISetu in Partnership with Axis Bank
Setu, a Pine Labs-owned API provider, launched UPISetu with Axis Bank, focusing on UPI solutions for businesses and developers.
Platform Features: UPISetu offers a variety of UPI services including QR Code Payments, UPI Autopay, EMI Payments, Third-Party Validation, brand and bank offers, dispute resolution, instant cashbacks, and refunds.
Market Impact: The platform aims to capitalize on UPI’s growing adoption in India, enhancing transaction success rates and supporting merchant digitization.
Statements: Pine Labs CEO B Amrish Rau and Axis Bank’s Sanjeev Moghe emphasized UPISetu’s potential to advance UPI’s evolution and support digital payments.
About Setu and Pine Labs: Setu, founded in 2018 and acquired by Pine Labs in 2022, provides API solutions and is RBI-licensed as an account aggregator. Pine Labs focuses on merchant commerce and digital payments across India, the Middle East, and Southeast Asia.
DBS Bank India Launches ‘DBS Golden Circle’ for Senior Citizens: Key Highlights
DBS Bank India Limited (DBIL) has introduced the ‘DBS Golden Circle,‘ a priority banking program tailored for senior citizens aged 60 and above, offering enhanced banking services and income security.
Exclusive Benefits: The program provides higher interest rates on savings accounts (up to 7% per annum for balances above Rs 4 lakhs) and Fixed Deposits (additional 0.50% per annum for tenures of 376 to 540 days), cyber insurance, and other perks.
Milestone: The launch coincides with DBS Bank’s 30th anniversary in India, utilizing its branch network and digital services to improve customer experiences.
DBIL Leadership: Managing Director and CEO – Surojit Shome. Headquarters – Mumbai, Maharashtra. Founded in 1994, DBIL is a wholly-owned subsidiary of DBS Bank Ltd, Singapore
DBS:
CEO: Piyush Gupta (9 Nov 2009–)
Headquarters: Singapore
Founded: 16 July 1968, Singapore
RBI Ranks 12th in Global Central Bank Asset Rankings
The Reserve Bank of India (RBI) secured the 12th spot in the Sovereign Wealth Fund Institute’s (SWFI) Top 100 Largest Central Bank Rankings by Total Assets in 2024, with total assets amounting to USD 839 billion.
Balance Sheet Growth: RBI’s balance sheet grew by 11.08% year-on-year, reaching Rs 70.47 trillion as of March 2024.
Top Global Central Banks:
1st: The Federal Reserve System (FRS) of the USA, with assets of USD 7.84 trillion.
2nd: People’s Bank of China (PBC), with USD 6 trillion.
3rd: Bank of Japan (BOJ), with USD 5.54 trillion
Top 10 Largest Central Banks by Total Assets
Rank
Name of the Bank
Total Assets
Country
1
Federal Reserve System (FRS)
USD 7.84 trillion
United States of America (USA)
2
People’s Bank of China (PBC)
USD 6 trillion
China
3
Bank of Japan (BOJ)
USD 5.54 trillion
Japan
4
Deutsche Bundesbank (DBB)
USD 2.77 trillion
Germany
5
Bank of France
USD 2.01 trillion
France
6
Norges Bank
USD 1.63 trillion
Norway
7
Bank of Italy (BOI)
USD 1.38 trillion
Italy
8
Bank of England (BOE)
USD 1.28 trillion
United Kingdom (UK)
9
Bank of Spain (BOS)
USD 1.04 trillion
Spain
10
Swiss National Bank (SNB)
USD 944 billion
Switzerland
About the Sovereign Wealth Fund Institute (SWFI)
Incorporation: Established in 2008, SWFI provides in-depth research and analysis on global capital, investor intelligence, money flows, and transparency.
Leadership: The institute is chaired by Lakshmi Narayanan.
Corporate Offices: Located in Las Vegas, Nevada, USA.
Appointment news
DBS Appoints Tan Su Shan As First Female CEO
Indian-origin top Singapore banker Piyush Gupta is set to step down as the Chief Executive Officer of the DBS Group in March 2025. He will be succeeded by Tan Su Shan, who was appointed Deputy CEO yesterday, in addition to being Group Head, Institutional Banking, at DBS.
First ever female chief executive
Gupta is set to retire at the next Annual General Meeting of DBS on March 28, 2025, according to the bank. Her first stint at DBS was as a university student. When she becomes CEO, the banking group will have its first ever female chief executive.Her past roles have been at Morgan Stanley and Citigroup. Tan has also been a nominated MP in Singapore from 2012 to 2014.
Tunisia’s President Replaces Prime Minister Ahead of October Election
In a recent political shakeup, Tunisia’s President Kais Saied has dismissed Prime Minister Ahmed Hachani and appointed Kamel Maddouri, the former Social Affairs Minister, to the role. This change marks the sixth prime ministerial appointment under Saied’s administration. The announcement comes just before Tunisia’s presidential election on October 6, amid growing social and economic unrest.
Political Shift: President Saied’s decision to replace Hachani, who had been in office for only a year, was made without providing specific reasons. The new prime minister, Kamel Maddouri, is stepping into a turbulent political environment characterized by high inflation, unemployment, and social discontent. Saied’s administration has faced criticism for its handling of economic challenges and increasing authoritarian measures.
Background on Saied’s Rule: Since coming to power in 2019, Saied has implemented significant changes, including suspending the parliament and rewriting the constitution to centralize power. These actions have sparked controversy and raised concerns about democratic backsliding in Tunisia, once seen as a beacon of progress following the Arab Spring uprisings.
About Tunisia
President: Kais Saied
Capital: Tunis
Currency: Tunisian Dinar (TND)
Sports news
Prez Droupadi Murmu, VP Jagdeep Dhankhar & PM Modi congratulates Indian wrestler Aman Sehrawat on winning Bronze Medal at Paris Olympics
Praised Aman Sehrawat as one of the youngest male wrestlers to win a medal in his first Olympics, highlighting his promising future and India’s continued success in wrestling. on winning the Bronze Medal at the Paris Olympics.
Vice President Jagdeep Dhankhar: Commended Aman’s dedication and perseverance, expressing pride in his achievement on the global stage and wishing him continued success.
Prime Minister Narendra Modi: Celebrated Aman’s dedication and perseverance, noting that the entire nation is rejoicing in his remarkable accomplishment.
Union Home Minister: Lauded Aman for his exceptional perseverance and strength in achieving the Olympic medal.
Science And Tech News
IIT Indore and DRDO Develop Energy-Harvesting GPS Tracking Shoes
Indian Institute of Technology (IIT) Indoreand Defence Research and Development Organisation (DRDO) have developed advanced shoes with energy-harvesting and GPS tracking capabilities.
Purpose: Designed specifically for soldiers, these shoes can generate electricity and track the real-time location of the wearer.
Initial Supply: The first batch of 10 pairs has been supplied by IIT Indore to DRDO units.
Key Features:
Energy Harvesting: The shoes use Tribo-Electric Nanogenerator (TENG) technology to generate electricity with each step. This energy is stored in a device within the shoe soles and can power small appliances.
GPS and RFID: Equipped with GPS and Radio Frequency Identification (RFID) technologies for real-time location tracking of personnel.
Development: Guided by Professor IA Palani from IIT Indore.
DRDO:
Date founded: 1958
Headquarters: DRDO Bhavan, New Delhi, India
Agency executive: : Sameer V. Kamat, Chairman, DRDO;
Important days
Quit India Movement Day (August Kranti Day)
Date: Annually observed on August 8
Significance: Commemorates the launch of the Quit India Movement in 1942, a crucial movement in India’s fight for independence from British rule, demanding the immediate withdrawal of British forces.
Themes: Highlights the power of non-violent resistance and civil disobedience in achieving social and political change, emphasizing democracy, freedom, and unity.
2024: Marks the 82nd anniversary of Quit India Movement Day.
Title: Reassuring resolve: On the RBI’s Monetary Policy Committee’s move
The RBI’s Monetary Policy Committee (MPC) has for a ninth straight meeting chosen to keep benchmark interest rates unchanged as it continues to battle retail inflation that has stubbornly stayed above its medium-term target of 4% for 57 months and is beginning to undermine consumer confidence. Laying out the rationale, RBI Governor Shaktikanta Das was emphatic that there was no room for complacency given the risks that persistently elevated food price pressures posed to households’ inflation expectations and broader monetary policy credibility. Elevated food prices, he stressed, had not only slowed disinflation in the April-June quarter but had also extended their momentum into July with high frequency food price data pointing to sizeable month-on-month increases in key vegetable prices. Citing Department of Consumer Affairs data, he said tomato prices had surged 62% sequentially, while onion had become almost 23% costlier than in June and potato prices had increased 18%. Food prices, with a weight of about 46% in the overall Consumer Price Index, could not afford to be overlooked, not just for their impact on headline inflation but far more significantly because consumers related the most to the impact food prices had on monthly household budgets. He indicated, without explicitly referencing it, that a suggestion in the Economic Survey urging policymakers to consider delinking food prices from the inflation targeting framework made little sense in the circumstances.
The MPC, which voted by a 4-2 majority to hold interest rates and keep the policy stance focused on the withdrawal of accommodation to ensure that inflation aligns to the target, also raised its projection for headline retail inflation in the July-September quarter to 4.4%, 60 basis points higher than the 3.8% pace projected in June. The rate panel also posited slightly faster inflation in the third fiscal quarter than it had forecast previously, lifting the projection by 10 basis points to 4.7%, in a clear sign that the near-term inflation outlook appears less reassuring than it did just two months ago. And while Mr. Das noted that, in June, vegetable prices had contributed about 35% to headline inflation, the Centre for Monitoring Indian Economy, in an analysis, forecast price pressures in vegetables to ‘sustain well into the festive season through till early November’, adding pressure on retail headline inflation. Core inflation may also have bottomed out according to the MPC, which flagged the risks of spillover from food prices, as well as the impact mobile tariff revisions may have on broader non-food inflation. Policymakers hearteningly reiterated the truism that without ensuring enduring price stability, growth may at best be tenuous.
Meaning of the word:
Word
Meaning
Synonyms
Antonyms
Complacency
Complacency refers to a sense of self-satisfaction or contentment with the current state of affairs, often coupled with a lack of awareness or concern about potential dangers or problems.
Self satisfaction Smugness Contentment Apathy
Vigilance Concern Awareness Alertness
Stance
“Stance” refers to a person’s attitude or position on a particular issue or topic. It can also refer to the way someone physically positions their body, especially in sports or physical activities.
