National News
Indian Navy Signs MoU with BEML Ltd.
The Indian Navy has signed a significant Memorandum of Understanding (MoU) with BEML Ltd., a leading defence and heavy engineering manufacturer, on August 20, 2024. This strategic partnership, concluded at the Naval Headquarters in New Delhi, marks a pivotal step towards bolstering indigenous marine engineering capabilities in alignment with the Government of India’s Aatmanirbhar Bharat initiative.
- Objective: Enhance self-reliance in defense through Indigenous Design, Development, and Production of marine equipment.
- Focus Areas: Heavy engineering, hydraulics, diesel engines, and R&D.
- Aatmanirbhar Bharat Initiative: Supports India’s goal of reducing foreign dependency in defense production.
- Impact: Upgrades the Navy’s capabilities with advanced, domestically produced technology.
- Long-Term Vision: Strengthens immediate and future naval projects and infrastructure.
BEML:
- Headquarters: Bengaluru
- Founded: May 1964, Bengaluru
- Key people: Shantanu Roy (Chairman & MD)
NITI Aayog and CSIRO Launch Climate Smart Agritech RISE Accelerator Program
On August 2024, the National Institution for Transforming India (NITI Aayog)‘s backed- Atal Innovation Mission (AIM) in collaboration with the Commonwealth Scientific and Industrial Research Organisation (CSIRO), an arm of Government of Australia has launched the Climate Smart Agritech cohort of the India-Australia Rapid Innovation and Startup Expansion (RISE) Accelerator program and has invited applications from startups and Micro, Small, and Medium Enterprises (MSMEs) for the program.
- Partners: Atal Innovation Mission (NITI Aayog) and Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia.
- Aim: Utilize advanced technologies to tackle climate challenges in agriculture and foster cross-border innovation.
- Program Focus: Support for agritech startups and MSMEs enhancing agricultural productivity and resilience.
- Program Start: October 2024
- Application Deadline: September 15, 2024
- Target Participants: Agritech startups and MSMEs addressing farmers’ needs and improving on-farm practices.
About National Institution for Transforming India (NITI Aayog):
- Chief Executive Officer (CEO) – B.V.R. Subrahmanyam
- Headquarters- New Delhi, Delhi
- Established – 2015
Lok Sabha Speaker Om Birla Constitutes 6 New Parliamentary Committees for 2024-25
Lok Sabha Speaker Om Birla constituted 6 new Parliamentary Committees for 2024- 25, including the Public Accounts Committee (PAC), Committee on Estimates(CoE), Committee on Public Undertakings (CoPU) and committees focused on the welfare of Other Backward Classes (OBCs), Scheduled Castes (SCs), and Scheduled Tribes (STs).
- Committees Formed: Public Accounts Committee (PAC), Committee on Estimates (CoE), Committee on Public Undertakings (CoPU), and welfare committees for OBCs, SCs, and STs.
- Tenure: All committees have a 1-year term, with members from both Lok Sabha and Rajya Sabha.
- PAC Chair: K.C. Venugopal (INC), responsible for overseeing government expenditures and CAG reports.
- PAC Composition: 22 members (15 from Lok Sabha, up to 7 from Rajya Sabha).
- CoE Chair: Dr. Sanjay Jaiswal (BJP), responsible for examining budget estimates and suggesting efficiency improvements.
- CoPU Chair: Baijyant Panda (BJP), focuses on public sector undertakings.
- OBC Welfare Committee Chair: Ganesh Singh (BJP), MP from Satna, Madhya Pradesh. Function: Review reports from the National Commission for Backward Classes (NCBC) and assess welfare measures for OBCs.
Banking news
NPCI Launches “UPI Circle” Feature for Delegated Payments on UPI Platform
The National Payments Corporation of India (NPCI) has launched a new “UPI Circle” feature on its Unified Payments Interface (UPI) platform. This new feature will enable the primary UPI account holders to securely delegate payment responsibilities to trusted secondary users.
- Feature Launch: NPCI introduces “UPI Circle” to enhance payment delegation on UPI.
- Announcement: Introduced during the RBI’s Monetary Policy Committee (MPC) meeting in August 2024.
- Objective: Improve convenience and security in digital transactions.
Functionality:
- Primary User: Account holder who creates and manages the circle, controlling delegation.
- Secondary User: Trusted individual with granted access for payments.
Delegation Types:
- Full Delegation: Secondary users can make transactions within set limits without further approval.
- Partial Delegation: Secondary users initiate transactions, but the primary user must authorize and complete them using their UPI PIN.
About National Payments Corporation of India (NPCI):
- Role: Regulates the retail payment and settlement system in India.
- Launch: A joint initiative by the Reserve Bank of India (RBI) and India Banks’ Association (IBA).
- Established: 2008
- Managing Director & CEO: Dilip Asbe
- Headquarters: Mumbai, Maharashtra
Udaan Partners with MOCAF&PD and SIDBI to Transform Fair Price Shops into Jan Poshan Kendras
Udaan, a B2B (Business to Business) e-commerce company, has partnered with the Ministry of Consumer Affairs, Food and Public Distribution (MOCAF&PD), and the Small Industries Development Bank of India (SIDBI) to transform Fair Price Shops (FPSs) into Jan Poshan Kendras (JPK).
- Partnership Goals: Enhance FPS dealers’ income and expand product offerings by converting Fair Price Shops (FPSs) into Jan Poshan Kendras (JPK).
- Pilot Launch: Initiated in 60 FPSs across Rajasthan, Uttar Pradesh, Telangana, and Gujarat.
- Key Figures: Union Minister Pralhad Joshi (MOCAF&PD), Manoj Mittal (CMD, SIDBI), Vaibhav Gupta (co-founder and CEO, Udaan).
- Partnership Details: JPKs will receive credit from SIDBI for purchasing food grains and FMCG products, with access to over 3,500 products via Udaan’s eB2B platform.
About SIDBI:
- Established: April 2, 1990, under an Indian Parliament Act.
- Role: Principal financial institution for MSME promotion, financing, and development.
- CMD: Manoj Mittal
- Headquarters: Lucknow, Uttar Pradesh
International News
UAE Joins BRICS to Launch Centre for Industrial Competences with UNIDO
UAE collaborates with BRICS (Brazil, Russia, India, China, South Africa) and UNIDO to establish a Centre for Industrial Competences.
- Announcement: Made at the 8th BRICS Industry Ministers Meeting in Nizhny Novgorod, Russia.
- Theme: “Strengthening Multilateralism for Equitable Global Development and Security.”
- Future Meeting: 9th BRICS Industry Ministers Meeting to be hosted by Brazil in 2025.
- Centre Goals: Support the New Industrial Revolution (NIR) framework, address industrial sector issues, and enhance industrial skills across member countries.
- Focus Areas: Working groups on chemicals, metals, SMEs, smart manufacturing, and clean technology.
- Commitment: BRICS members pledge cooperation on industrial policy to support UN’s Sustainable Development Goal (SDG) 9 on industry, innovation, and infrastructure.
UNIDO: United Nations Industrial Development Organization
- Founded: 17 November 1966
- Headquarters: Vienna, Austria
- Head: Director-General; Gerd Müller
Appointment news
Rajesh Nambiar Named NASSCOM President-Designate, Succeeds Ghosh
Rajesh Nambiar has been appointed as the president-designate of the National Association of Software and Service Companies (NASSCOM), succeeding Debjani Ghosh, whose tenure concludes in November 2024. Following this appointment, Nambiar has resigned from his role as Chairman and Managing Director of Cognizant India. His extensive industry experience, including leadership roles at TCS, IBM, Ciena, and Cognizant, positions him as a key figure in guiding India’s tech sector through its next phase of growth.
NASSCOM:
- Chairperson: Rajesh Nambiar
- Founders: Nandan Nilekani, Dewang Mehta
- Founded: 1 March 1988
Sanjiv Ranjan Appointed Secretary General of IORA, Effective January 2025
Sanjiv Ranjan approved as Secretary General of the Indian Ocean Rim Association (IORA) Secretariat.
- Effective Date: January 1, 2025.
- Tenure: 3 years, until January 31, 2026, or until further orders.
- Predecessor: Salman Al Farisi (Indonesia), current SG, appointed in January 2022 for a 3-year term.
- IORA Details:
- Former Name: Indian Ocean Rim Association for Regional Co-operation (IOR-ARC).
- Status: Observer to the UN General Assembly (UNGA) and African Union (AU) since 2015.
- Secretary-General: Salman Al Farisi
- Headquarters: Cyber City, Ebène, Mauritius
- Members: 23 Member States and 12 Dialogue Partners
- Establishment: March 7, 1997
Award news
Rohit Sharma Virat Kohli honoured at the 26th CEAT Cricket Awards
The Indian men’s cricket team captain Rohit Sharma was awarded the 26th CEAT International Cricketer of the Year Award at a ceremony held in Mumbai on 21 August 2024
- The CEAT Cricket Awards is one of the most prestigious awards in cricket. It honours the exceptional performance of cricketers worldwide.
- The CEAT Cricket Awards started in 1995-96, is sponsored by RP Goenka Group company CEAT Tyres. The latest 26th CEAT Award takes into account the players’ performance during the 2023-24 cricketing session.
Men’s International Cricketer of the Year Award
- Indian cricket team captain Rohit Sharma was honoured for his exceptional performance in the 2023-24 season. Under his captaincy, India reached the final of the 13th ICC Men’s ODI Cricket World Cup but lost to Australia.
- During this period, Rohit scored around 1800 international runs, including 597 runs during the 13th ODI World Cup.
- After fellow India Virat Kohli, Rohit Sharma was the second-highest run scorer in the World Cup.
ODI Batter of the Year -Virat Kohli
- Virat Kohli, who had a terrific year in the One Day Internationals (ODI), was honoured with the Best ODI Batter of the Year award.
- In the 2023-24 season, Kohli scored 1377 runs, which included six centuries and eight fifties. Kohli was the leading scorer of the 2023 ODI World Cup with 765 runs at an average of 95.62.
- During the World Cup, Kohli equalled Sachin Tendulkar’s record of most centuries -49 in ODI. With 50 ODI centuries, Virat Kohli has surpassed Tendulakar’s record.
Complete List of the Winners of the 2023-24 CEAT Cricket Award
Lifetime Achievement Award: Rahul Dravid
International Cricketer of the Year: Rohit Sharma
Performance in Test Match (Men’s)
- Test Batter of the Year: Yashashvi Jaiswal
- Test Bowler of the Year: Ravichandran Ashwin
Performance in ODI (Men’s)
- Batter of the Year: Virat Kohli
- Bowler of the Year: Mohammad Shami
Performance in T20(Men’s)
- Batter of the Year: Phil Salt (England)
- Bowler of the Year: Tim Southee (New Zealand)
Performance in Domestic Cricket (Men)
- Cricketer of the Year: Sai Kishore. Left-arm spinner from Tamil Nadu.
Best Indian Women cricketer
- Batter of the Year: Smriti Mandhana
- Bowler of the Year: Deepti Sharma
Memento
- Most matches as a captain in Women’s T20I history: Harmanpreet Kaur
- Outstanding Leadership in TATA IPL: Shreyas Iyer
- Fastest Double Century in Women’s Test Match: Shafali Verma
Other Award
- Excellence in Sports Administration: BCCI Secretary Jay Shah.
Sports News
Pankaj Advani Wins Western India Billiards Championship, Extends Title Streak
Pankaj Advani wins billiards final of Western India Billiards and Snooker Championship Pankaj Advani crushed S Shrikrishna by a margin of 822-520 in the billiards final to clinch yet another title win here in the Western India Billiards and Snooker Championship on Sunday.
- Victory: Pankaj Advani defeated S Shrikrishna 822-520 in the billiards final.
- Title Count: This win adds to Advani’s record of 27 world championships.
- Streak: Advani has now won seven consecutive titles in Mumbai (4 snooker, 3 billiards) over the past two years.
- Recent Success: Sunday’s win is Advani’s sixth consecutive final victory.
