National News

Himachal Pradesh Legislative Assembly introduces Zero Hour

For the first time, the Himachal Pradesh Legislative Assembly introduced Zero Hour in its legislative proceedings on 4 September 2024. The practice of zero hour in parliamentary democracy is an invention of the Indian Parliament. It was introduced during the Sixties in the Lok Sabha and the Rajya Sabha, and this practice is gradually being adopted by the state legislative assemblies in India. 

The term Zero Hour is nowhere mentioned in the rules of the Parliament and the State Assembly. It is a convention, not a rule.

Zero Hour in Himachal Pradesh Legislative Assembly 

• The speaker of the Himachal Pradesh legislative assembly, Kuldeep Singh Pathania, announced the introduction of Zero Hour in the state legislative assembly proceedings at the start of the assembly’s monsoon session on 3 September 2024.
• The zero hour will commence at 12:30 PM after the end of the Question Hour and will last half an hour. 
• The question hour period in the state legislative assembly is from 11.30 A.m. to 12.30 Noon on almost all Himachal Pradesh legislative assembly working days.
• During the Zero hour, the member of the assembly can raise matters of urgent public importance,
• According to the Speaker, the members will get one minute or slightly more time to raise matters of public importance.

Why has it been introduced?

• In Parliament or the state legislative assembly, the first hour of each day’s proceedings is devoted to Question Hours, during which members ask questions of the government of the day.
• Many times, the opposition members attempt to raise matters of public importance related to their constituency at the start of the Question Hour, thus disrupting the Question Hour.
• Question Hour is considered to be one of the most important parts of the Legislative proceeding, as the members hold the government accountable for its actions by asking questions related to its performance.
• Thus, zero hours were introduced so that members could raise matters they consider important after the question hour without disrupting the question hours.

Features of Zero Hour in Indian Parliament 

• Zero Hour refers to the time between the end of Question Hour and the beginning of the house’s regular listed business.
• The Question Hour is from 11 Am to 12 Noon in the Lok Sabha.
• In the Rajya Sabha, the Question Hour is from 12 Noon to 1 PM.
• Members can raise issues of urgent public importance with the permission of the Speaker in the Lok Sabha and the Chairman in the Rajya Sabha.
• However, it should be noted that there is no rule for a  Zero Hour in Parliament’s proceedings. Zero Hour is a convention followed in India, and the Speaker or the Chairman can adjourn the House just after Question Hour. In such a case, no zero hour will take place. 
• The duration of the Zero hour is not fixed in Parliament. It could be less than one hour or more than an hour. Its duration depends upon the number of matters raised or on the Speaker or the Chairman of the House.

Himachal Pradesh Legislative Assembly 

• The current Himachal Pradesh legislative assembly is the 14th legislative assembly. It was constituted in December 2022.
• The assembly has 68 members and a term of five years.
• Speaker of the legislative assembly: Kuldeep Singh Pathania,

Nitin Gadkari, Hardeep Puri inaugurates India Bio-Energy & Tech Expo

• Union Minister for Road Transports and Highways Nitin Gadkari and Union Minister for Minister for Petroleum & Natural Gas Hardeep Singh Puri jointly inaugurated the India Bio-Energy & Tech Expo 2024 on 2 September 2024 in New Delhi.
• The Expo is being held from 2-4 September 2024.
• Both ministers also gave awards to the companies that are playing a key role in the bioenergy industry and for their role in enhancing bioenergy production and supply in the country.

Who organised the India Bio-Energy & Tech Expo 2024?

The Indian Federation of Green Energy organised the India Bio-Energy & Tech Expo 2024 in association with MMACTIV Sci-Tech Communications Ltd in New Delhi.

Aim of the India Bio-Energy & Tech Expo 2024 

• The India Bio-Energy & Tech Expo 2024 provides a platform for the stakeholders to deliberate about the future of bioenergy technologies and take steps to promote India’s green energy initiatives. 
• The event brings together various stakeholders, such as the government, industry leaders, and experts, to discuss the latest advancements in bioenergy and its role in achieving India’s sustainability goal.

About Bioenergy 

• Bioenergy refers to biomass, which comes from organic materials like plants and animal waste and is blended with fossil fuels for use in transportation, generating electricity, etc. 
• In India, the government has launched E-20 fuel, which is a bioenergy. 
• E20 refers to the mixing of 20 per cent ethanol derived from agricultural by-products or waste with petrol. The ethanol is mainly derived from sugarcane molasses, maize, or broken rice.

The Government of India has set a target of 20 per cent ethanol blending with petrol by 2025.

• Two second-generation (2G) refineries in India have been established in Panipat, Haryana and Numaligarh, Assam, to convert agricultural residues like Parali and bamboo into ethanol.
• The government aims to launch E100 fuel in the country.
• The government is promoting bioenergy in the country because it will boost farmers’ incomes, reduce crude oil imports, save foreign exchange, and promote a circular economy.

 

 

Central Government notifies 23rd Law Commission for a term of 3 years

• The President of India, Draupadi Murmu, approved the constitution of the 23rd Law Commission of India on September 2, 2024.
• The Union Ministry of Law and Justice issued the notification.
• The tenure of the 23rd Law Commission is from September 1, 2024, to August 31, 2027.
• The previous 22nd Law Commission’s term ended on August 31, 2024.

Nature and Composition:

• The Law Commission is an executive body, not mentioned in the Indian Constitution and not established by a parliamentary law. It is created by an executive order of the President of India.
• The 23rd Law Commission will consist of:
  • Chairman: Serving Judge of the Supreme Court or High Court.
  • Four Full-time Members (including Member-Secretary).
  • Ex officio Members: Secretary, Department of Legal Affairs and Secretary, Legislative Department.
  • Part-time Members: Up to five.

Functions and Terms of Reference:

• The Law Commission reviews the legal system and suggests reforms to make it more justice-oriented.
• Key references for the 23rd Law Commission include:
  • Identifying obsolete laws.
  • Developing Standard Operating Procedures (SoP) for periodic reviews.
  • Suggesting amendments for laws to meet current economic needs.
  • Proposing measures for quick grievance redressal.
  • Reviewing laws affecting the poor and conducting post-enactment audits of socio-economic legislation.
  • Recommending judicial reforms for faster case disposal.
  • Simplifying court processes and promoting uniformity in High Court rules.
  • Promoting gender equality through legal reforms.

Historical Background:

• The first Law Commission was established in 1834 during British rule with Lord Thomas Babington Macaulay as Chairman.
• Four Law Commissions were set up during the British period (1834, 1853, 1861, 1879).
• After Independence, the first Law Commission was constituted in 1955 with M.C. Setalvad as Chairman.
• The 22nd Law Commission was chaired by Justice Ritu Raj Awasthi (2020-2024).

Global Fintech Fest 2024: Shaping the Future of Finance with Responsible AI and Inclusive Growth

The Global Fintech Fest (GFF) is the largest 3- day fintech conference held from 28th August to 30th August 2024 at Jio World Convention Centre, Mumbai, Maharashtra. The 5th edition of this annual event is jointly organized by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC).

Theme: “Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient”

Agenda:

• Focus on fostering global collaborations among stakeholders.
• Exploring key issues in the fintech sector.
• Devising business models for building an inclusive, resilient, and sustainable world.

Key Highlights:

• Speakers: Over 1,000 speakers from 70 countries.
• Sessions: More than 350 sessions conducted.
• Product Launches: Over 60 new products launched.
• Exhibitors: More than 300 exhibitors participated.
• Attendance: Attracted 100,000 footfalls over the three-day event.

Special Address:

• Prime Minister Narendra Modi highlighted India’s advancements and leadership in the fintech sector during a special session.

International news

Ajit Kumar Doval’s Visit to Colombo and the Colombo Security Conclave (CSC)

• Ajit Kumar Doval, India’s National Security Adviser (NSA), visited Colombo, Sri Lanka, from August 29-30, 2024.
• The visit was for the signing of the Founding Documents of the Colombo Security Conclave (CSC), a regional security grouping.
• On August 30, 2024, India, the Maldives, Mauritius, and Sri Lanka signed a Charter and Memorandum of Understanding (MoU) to establish the CSC Secretariat in Colombo, Sri Lanka.
• The Signing Ceremony was hosted by the Government of Sri Lanka in Colombo.

About Sri Lanka:

• Prime Minister: Dinesh Gunawardena
• Currency: Sri Lankan Rupee
• Capital:
  • Legislative Capital: Sri Jayawardenepura Kotte
  • Executive and Judicial Capital: Colombo

UN Releases $100 Million from CERF for Humanitarian Emergencies

On August, 2024, the United Nations (UN) released $100 million from the Central Emergency Response Fund (CERF) to address critical underfunding in humanitarian emergencies across 10 countries in Africa, the Americas, Asia, and the Middle East.

• This is the second allocation for underfunded emergencies by CERF in 2024, with a previous allocation of $100 million in February for 7 countries.

Key Allocations:

• Yemen: $20 million
• Ethiopia: $15 million
• Myanmar: $12 million
• Mali: $11 million
• Burkina Faso: $10 million
• Haiti: $9 million
• Cameroon: $7 million
• Mozambique: $7 million
• Burundi: $5 million (El Niño-induced drought and flooding)
• Malawi: $4 million (El Niño-induced drought and flooding)
• A portion of the allocation will promote climate-smart humanitarian action, supported by CERF’s Climate Action Account.

About CERF:

• CERF is one of the fastest funding instruments available, providing life-saving assistance when other humanitarian funding is inadequate.
• It allocates funding for underfunded emergencies twice a year based on detailed analysis of over 90 humanitarian indicators.
• Over one-third of this funding is managed by the UN Office for the Coordination of Humanitarian Affairs (OCHA).
• The Emergency Relief Coordinator (ERC) manages CERF on behalf of the UN Secretary-General, supported by the CERF secretariat.
• Joyce Msuya is the acting Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinator (USG/ERC)

Central Emergency Response Fund (CERF) Overview

• Purpose: CERF is one of the fastest funding instruments available to provide immediate assistance to people affected by crises, including natural disasters and armed conflicts.
• Management: The fund is managed by the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) on behalf of the UN Secretary-General.
• Chief: Michael Jensen currently heads CERF.
• Establishment: CERF was established in 2005 to enable swift and effective humanitarian response when crises emerge or when other funding is inadequate.

Nepal’s MCA Signs $12.36 Million Contract with India’s TLL

The Millennium Challenge Account (MCA) Nepal has signed a $12.36 million contract with Transrail Lighting Limited (TLL) of India.

• The project involves constructing an 18 km cross-border electricity transmission line from the 400 kV New Butwal Substation in Nawalparasi Bardaghat Susta West to the Nepal-India border.
• Funding and Significance:
  • The contract is part of the Millennium Challenge Corporation (MCC) Nepal Compact and is jointly funded by the governments of Nepal and the United States.
  • This milestone marks the first anniversary of the Compact’s Entry-Into-Force, reinforcing the commitment to enhancing regional energy trade between Nepal and India.
• Millennium Challenge Corporation (MCC):
  • Established by the U.S. Congress in January 2004, the MCC aims to reduce global poverty through economic growth.

About Nepal:

• Prime Minister: Khadga Prasad Sharma Oli
  • President: Ram Chandra Paudel
  • Capital: Kathmandu
  • Currency: Nepalese Rupee (NPR)

Banking News

SEBI Revises F&O Entry and Exit Criteria to Strengthen Market Stability

On August 2024, the Securities and Exchange Board of India (SEBI) introduced revised guidelines for the entry and exit of stocks in the Futures and Options (F&O) segment to bolster market stability by ensuring that only actively traded and financially sound stocks participate in the derivatives market.

Key Points:

• New Criteria:
  • Median Quarter Sigma Order Size (MQSOS): The threshold has been increased from ₹25 lakhs to ₹75 lakhs, evaluated on a rolling basis over the previous six months.
  • Market Wide Position Limit (MWPL): The limit has been raised from ₹500 crores to ₹1500 crores over the past six months.
• Implementation: The circular is effective immediately, with a six-month gestation period granted to existing stocks to comply with the new norms.

About SEBI:

• Chairman: Madhabi Puri Buch
• Headquarters: Mumbai, Maharashtra
• Established: 1992

Sports news

Dhanush Srikanth win three Gold at the World Deaf Shooting Championship

The Indian deaf shooter Dhanush Srikanth won three gold medals at the 2024 World Deaf Shooting Championship in Hanover, Germany.  The International Committee of Sports for the Deaf is organising the 2024 World Deaf Shooting Championship in Hanover, Germany, from 29 August to -8 September 2024.

World Record by Dhanush Srikanth 

• Dhanush Srikanth set a new world record in the men’s 10m air rifle event with a score of 632.7. 
• All three medals in the event were won by Indians: Dhanush bagged the gold, Shourya Saini won the silver, and Mohammed Vania won the bronze. 
• Srikanth won his second gold medal in the 10m mixed team event with Mahit Sandhu. 
• The Indian team of Mohammed Vania and Natasha Joshi won the silver medal. 
• His third gold medal came in the 10m air rifle men’s team event, where he partnered Shourya Saini and Mohammed Vania.
• India has sent a 13-member team to the World Deaf Shooting Championship. 
• At the end of day three, India had won 12 medals (three gold, six silver, and three bronze).

 

Abhay Singh wins the single title at the 2024 Tuanku Muhriz Trophy

• Abhay Singh, the Indian men’s national squash champion, won the men’s singles title of the 2024 Tuanku Muhriz Trophy.
• He defeated the top seed, Lau Tsz Kwan of Hong Kong, China, in the final on September 1, 2024.
• The match ended with a 3-1 scoreline in favor of Abhay Singh (7-11, 11-8, 12-10, 11-4) in 41 minutes.
• This victory marked Abhay Singh’s 10th Professional Squash Association (PSA) title.
• Abhay, ranked 68th in the world, faced and defeated the 48th-ranked Lau Tsz Kwan.

Tournament Details:

• The Tuanku Muhriz Trophy is a PSA Challenger tournament with a prize money of $15,000.
• The tournament was held in Seremban, Malaysia, from August 28 to September 1, 2024.

Abhay Singh’s Achievements in 2024:

• He won the 2024 Goodfellow Classic and the 2024 Willingdon Masters titles.
• At the 2024 Asian Squash Doubles Championship, held in Johor, Malaysia, he won:
  • The mixed doubles title with Joshna Chinappa.
  • The men’s doubles title with Velavan Senthilkumar.
• In the Tuanku Muhriz Trophy semifinals, Abhay defeated Velavan Senthilkumar in a tightly contested match lasting 70 minutes.

Women’s Singles Champion:

• Aira Azman of Malaysia won the women’s singles title of the 2024 Tuanku Muhriz Trophy by defeating Chan Sin Yuk of Hong Kong, China, with a scoreline of 11-9, 11-9, 11-9.

About the Professional Squash Association (PSA)

• The PSA is the world governing body for men’s and women’s squash.
• It was originally named the International Squash Professional Association (ISPA) in 1974 and was renamed the World Squash Federation in 1992, and then the Professional Squash Association in 1993.
• Headquarters: Leeds, England.
• Men’s President: Saurav Ghoshal (India).
• Women’s President: Sarah-Jane Perry (England).

Charles Leclerc Wins Italian Grand Prix 2024

Ferrari’s Charles Leclerc secured victory at the 2024 Formula One Italian Grand Prix (officially known as the F1 Pirelli Gran Premio D’Italia 2024), held at the Autodromo Nazionale Monza in Monza, Italy. This win marks Leclerc’s second Italian GP title, having previously won in 2019.

Race Highlights:

• Winner: Charles Leclerc (Ferrari) – 2nd Italian GP title
• 2nd Place: Oscar Piastri (McLaren, Australia)
• 3rd Place: Lando Norris (McLaren, United Kingdom)

Leclerc’s Achievements:

• F1 Titles: 7 Grand Prix titles
• Pole Positions: 25
• Fastest Laps: 9
• Podiums: 38

Italian GP 2024 Details:

• Edition: 94th
• Round: 16th of the 2024 F1 World Championship
• Next Round: 2024 Azerbaijan GP, 13-15 September 2024, Baku City Circuit, Baku, Azerbaijan

About the Italian GP:

• History: The 5th oldest national Grand Prix, first held in 1922
• Circuit:
  • Length: 5.793 kilometers (km)
  • Number of Laps: 53
  • Race Distance: 306.720 km

State news

Amrit Lal Meena Appointed as Chief Secretary of Bihar

The Appointments Committee of the Cabinet (ACC) has confirmed the appointment of Amrit Lal Meena, a 1989-batch IAS officer of the Bihar Cadre, as the new Chief Secretary of Bihar. He will succeed Brijesh Mehrotra, who retired on August 31, 2024.

• New Position: Chief Secretary of Bihar
• Previous Roles:
  • Secretary, Ministry of Coal (MoC) during central deputation
  • Special Secretary (Logistics), Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry (MoC&I)
  • Joint Secretary, Ministry of Food Processing Industries (MoFPI) and Ministry of Rural Development (MoRD)
  • District Magistrate in five districts of Bihar for over nine years

Bihar:

• Capital: Patna
• Chief minister: Nitish Kumar