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NATIONAL AFFAIRS
Union MoS for Health & Family Welfare, Prataprao Jadhav Launched Tobacco Free Youth Campaign 2.0
On 24th September 2024, Union Minister of State (MoS) Prataprao Ganpatrao Jadhav, Ministry of Health and Family Welfare (MoHFW) launched the 2nd edition of the Tobacco-Free Youth Campaign 2.0 at a hybrid event held at Lady Hardinge Medical College in New Delhi, Delhi.
- The key objective of the campaign is to protect the health and well-being of young people from the harmful effects tobacco.
Key Points:
i.During the launch event, he virtually inaugurated Tobacco Cessation Centres in medical institutions across India.
ii.All participants present at the event took the ‘Say No To Tobacco’ pledge to remain tobacco-free.
iii.During the event, 3 important guidelines namely, Health Workers Guide, Standard Operating Procedures (SOPs) for Villages to be Tobacco Free and the Guidelines for Law Enforcers for Effective Implementations of Tobacco Control Laws were launched.
About the Ministry of Health and Family Welfare(MoHFW):
Union Minister- Jagat Prakash Nadda (Rajya Sabha – Gujarat)
Minister of State (MoS)- Anupriya Patel(Constituency- Mirzapur, Uttar Pradesh, UP); Prataprao Ganpatrao Jadhav (Constituency- Buldhana, Maharashtra)
>> Read Full News
ARIES & BEL Signed MOU to Enhance Space Situational Awareness
On 21st September 2024, Nainital (Uttarakhand)-based Aryabhatta Research Institute of Observational Sciences (ARIES), an autonomous institute under the Department of Science & Technology (DST) has signed a Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL), a ‘Navratna’ Public Sector Undertaking (PSU) under the Ministry of Defence (MoD), to enhance space technologies, particularly focusing on Space Situational Awareness (SSA).
Signatories: The MoU was signed by Professor Dipankar Banerjee, Director, ARIES and Rashmi Kathuria, General Manager (SCCS) & Unit Head of BEL at BEL’s Ghaziabad unit in Uttar Pradesh (UP), in the presence of senior officials from ARIES and BEL.
- Under this partnership, the organisations will develop advanced image processing techniques, data analytics software, and new instruments to monitor space objects, particularly near-Earth objects and artificial satellites, which will ensure the safety of satellites and their users.
- ARIES will use its state-of-the-art telescopes such as the 4m International Liquid Mirror Telescope (ILMT), to provide important observational data to BEL.
- BEL will utilize its expertise in advanced image processing and data analytics which will help in creating a robust framework for enhanced SSA.
- The MoU also has provision of conducting various training workshops, to build capacity in SSA. ARIES will also share its expertise in space weather.
INTERNATIONAL AFFAIRS
CAG of India Assumes Chairmanship of Asian Organisation of Supreme Audit Institution for 2024-27 Term
On 24th September 2024, The Comptroller and Auditor General (CAG) of India, the Supreme Audit Insitution (SAI) of India, assumed the chairmanship of the Asian Organization of Supreme Audit Institutions (ASOSAI) for 2024-2027 term.
- Girish Chandra Murmu has been serving as the 14th CAG of India since August 2020.
- The 16th Assembly of ASOSAI hosted by CAG of India was held in New Delhi, Delhi from 21st to 27th September 2024.
60th ASOSAI Governing Board Meeting:
i.On 23rd September 2024, the 60th ASOSAI Governing Board Meeting was held in New Delhi.
ii.Saudi Arabia, represented by the General Court of Audit (GCA), has been elected as the chair of ASOSAI for 2027-2030 term. Saudi Arabia was also elected as the host the 17th ASOSAI General Assembly.
About Asian Organization of Supreme Audit Institutions (ASOSAI):
ASOSAI was founded in 1979 in New Delhi with 11 members. It is a regional group under the International Organization of Supreme Audit Institutions (INTOSAI).
Members – 48 Supreme Audit Institutions (SAIs)
Secretariat– Beijing, China
>> Read Full News
BANKING & FINANCE
Tripura CM Manik Sah Laid Foundation for ADB-funded Rs 530 Cr Project to Boost Drinking Water Supply
Manik Saha, the Chief Minister (CM) of Tripura laid the foundation for the Manila (Philippines)-based Asian Development Bank (ADB)-funded Rs 530 crores water supply project in Udaipur, Tripura.
- It is an initiative under the Mukhyamantri Nagar Unnayan Prakalpa (CM Urban Development Scheme) for the modern management of drinking water supply in 12 cities of Tripura. The project has already received Rs 330 crore in funding from the ADB.
- The project ensures clean drinking water supply to every urban household in 12 cities namely Khowai, Mohanpur, Ranirbazar, Bishramganj, Melaghar, Udaipur, Amarpur, Belonia, Kumarghat, Dharmanagar, Kailashahar, and Ambassa.
Note: Of the 12 cities, 7 are district headquarters, Udaipur, Belonia, Bishramganj, Khowai, Dharmanagar, Kailashahar and Ambassa.
Key Points:
i.Clean drinking water will be supplied through the pipeline to every house in the mentioned cities.
- It will benefit approximately 4 lakh people from 75,000 families and the project will be implemented within 3 years.
ii.The project will be implemented on a cluster basis across several towns. Under this project, every household will receive a drinking water connection.
iii.Additionally, a total of 18 kilometers (km) of roads and 48 km of drains will be constructed as part of this project, which will also improve transportation and drainage systems.
iv.The project also includes the construction of 305 km of water pipelines, 25 deep tubewells, 18 iron removal plants, 4 water treatment plants, and 19 water reservoirs.
v.Under the scheme, some urban health clinics will also be established in 12 cities.
- 8 additional cities, including Agartala Municipal Corporation (AMC), will be covered in phase 2.
Benefits:
i.The project aims to minimise water wastage and address the issue of water loss through leaks and inefficient systems, by implementing modern technology.
ii.The technology will detect and fix leaks more efficiently and the new system will modernise water treatment plants, upgrade pipelines, and introduce new water storage facilities.
iii.The project will also generate employment opportunities during its implementation phase, providing an economic boost to the region.
About Tripura:
Chief Minister (CM)- Manik Saha
Governor– Indrasena Reddy Nallu
Capital– Agartala
National Parks– Clouded Leopard National Park, and Bison National Park
Wildlife Sanctuaries– Sepahijala Wildlife Sanctuary, and Trishna Wildlife Sanctuary
BOB & EaseMyTrip Jointly Launched Co-branded Travel Debit Card
Bank Of Baroda (BOB), one of the leading commercial banks in India, in collaboration with EaseMyTrip.com, India’s one of largest online travel platforms, launched a co-branded travel debit card named ‘Bank of Baroda EaseMyTrip Debit Card’ for frequent travelers and those spending on entertainment and lifestyle.
- This is the 1st co-branded travel debit card introduced by a Public Sector Bank (PSB) in India and EaseMyTrip is the 1st Online Travel Agency (OTA) in India to be partnered with the PSB for a debit card.
Key Offerings:
i.The card offers discounts on travel and hotel stays, complimentary annual membership to Over-The-Top(OTT) platforms, along with vouchers and discounts on the electronic commerce (e-commerce) site.
ii.There is no Minimum Order Value (MOV) on travel bookings and these benefits are available all year round.
- Each cardholder can make a maximum of 2 transactions/quarter per product category in the travel segment
Key Features and Benefits:
i.Travel Discounts:
- 10% instant discounts on domestic and international flight bookings.
- 15% instant discounts on domestic and international hotel bookings.
- 10% instant discounts on bus and airport transfers/outstation cab bookings.
ii.Airport Lounge Access: Complimentary domestic airport lounge access (2 per quarter) and international lounge access (2 per year).
iii.Additional Benefits: Comprehensive air insurance coverage of up to Rs 50 lakh and 24×7 concierge services.
About Bank of Baroda (BoB):
Managing Director (MD) and Chief Executive Officer (CEO)- Debadatta Chand
Headquarters– Vadodara, Gujarat
Tagline– India’s International Bank
Established– 1908
SBI General Insurance Partners with BLS E-Services to Offer Insurance Products
SBI General Insurance Company Limited, a leading general insurance company in India, has partnered with BLS E-Services Limited (Erstwhile known as BLS E-services Private Limited), a leading integrated technology-enabled digital service provider, to offer a range of insurance products directly to customers across India.
i.The collaboration aims to provide key insurance solutions, including Hospicash, a flexible income protection plan offering daily hospitalization benefits; vehicle insurance; personal accident insurance; and shop insurance.
- Hospicash is designed for those earning their livelihood daily, providing security against income loss during hospitalization. Customers can choose between Rs 1,000 and Rs 2,000 daily benefits.
ii.This partnership will simplify the insurance acquisition process and make insurance more efficient and user-friendly.
iii.This partnership has enabled BLS E-Services’ to leverage its strong presence in the Electronic-Governance (E-Governance) sector, where it has already benefited over 40,000 customers.
Note: SBI General Insurance Company Limited commenced its operations in 2010 as a joint venture between the State Bank of India (SBI) and Insurance Australia Group (IAG).
ECONOMY & BUSINESS
Moody’s Raises India’s 2024 GDP Forecast to 7.1% in CY24; 6.5% in CY25
Moody’s, a subsidiary of Moody’s Corporation, has raised India’s Gross Domestic Product (GDP) growth forecast to 7.1% for Calendar Year 2024 (CY24), from its previous estimate of 6.8% made in June 2024. It noted that Indian economy will continue to be resilient amid global uncertainties.
- However, it has maintained its India’s economic growth forecast for CY25 at 6.5% and has projected a faster growth of 6.6% in CY26 in its new Asia Pacific outlook.
Note: Earlier, Moody’s Ratings has revised its GDP projection for India to 7.2% in 2024 and 6.6% in 2025 in its Global Macro Outlook 2024-25 in August, 2024.
Key Findings:
i.The Global Ratings agency has predicted better inflation outcomes for India as it reduced India’s inflation forecast to 4.7% from the 5% predicted earlier.
- However, it has kept India’s inflation forecast for CY25 and CY26 unchanged at 4.5% and 4.1%, respectively.
ii.Moody’s has also raised the 2025 forecast for the Asia-Pacific region by 10 basis point (bps) i.e. from 3.9% to 4%.
- As per Moody’s, the growth in developing Asia will slow down to 5.1% in 2024 and 4.9% in 2025. The main reason for this slow growth is sluggish momentum in China. The weak domestic demand will slow China’s growth to 4.7% and 4.6% in CY24 and CY25, respectively.
iii.As per Moody’s , Exports have been instrumental in the growth of Asia-Pacific region, but growth rests on unstable footing. This is due to slow global goods demand as well as China’s policy-led ramp up in exports has sparked protectionism abroad.
India’s GDP Forecast for 2024 by Other Global Agencies:
i.S&P Global Ratings in its latest economic outlook for Asia-Pacific region, has kept India’s growth forecast for financial Year 2024-25 (FY25) and for FY26 unchanged at 6.8% and 6.9% respectively.
ii.Earlier, the World Bank has revised India’s GDP growth forecast from its previous estimate of 6.6% to 7% for FY25.
iii.In July 2024, the International Monetary Fund (IMF) raised India’s GDP forecast by 20 bps from 6.8% to 7% for FY25.
About Moody’s :
President- Stephen Tulenko
Headquarters- New York, the United States of America (USA)
Established- 2007
AWARDS & RECOGNITIONS
Indian Actress Anushka Sen Honoured by South Korea Government for Strengthening India-Korea Relations
Indian Actress, Anushka Sen has been honoured with the prestigious award by the South Korea Government for her exceptional contribution in strengthening relations between India and Korea.
- She received the award from Hyun Woo Kim, Chief Executive Officer (CEO) of Seoul Business Agency (SBA), during a ceremony held in South Korea.
- As Honorary Ambassador of Korean Tourism, she has played a pivotal role in bridging the cultural gap between India and South Korea.
Note: SBA, run by Seoul Metropolitan Government, is a business support institution for SMEs (Small and Medium-sized Enterprises).
APPOINTMENTS & RESIGNATIONS
Brijendra Pratap Singh Set to become the Next CMD of NALCO
The Public Enterprise Selection Board (PESB), a key body set up by the Government of India (GoI), has appointed Brijendra Pratap Singh as the next Chairman-cum-Managing Director (CMD) of the National Aluminium Company Limited (NALCO), a Navratna Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the Ministry of Mines (MoM).
- Brijendra Pratap Singh is expected to take over from the incumbent CMD, Sridhar Patra on 1st November 2024.
- Sridhar Patra, who has been serving as the CMD of NALCO since 2019 is set to retire on 31st October 2024.
Note: His appointment is subject to necessary clearances and final approval from the Appointments Committee of the Cabinet (ACC).
About Brijendra Pratap Singh:
i.Brijendra Pratap Singh is currently serving as the Director in charge of IISCO Steel Plant (ISP) (Burnpur, West Bengal(WB)) and Durgapur Steel Plants (Durgapur, WB) of Steel Authority of India Limited (SAIL), a CPSE under the Ministry of Steel (MoS).
ii.He joined SAIL at the Iron Ore Mine of Bhilai Steel Plant (BSP), Chhattisgarh in 1989.
iii.He was promoted to Executive Director (ED) (Operation) in 2019 at BSP and subsequently re-designated as ED (Works). He also took charge as ED (Works) at Durgapur Steel Plant (DSP), SAIL in 2020.
About the National Aluminium Company Limited (NALCO):
NALCO was incorporated under the Companies Act of 1956 and is one of the largest integrated Bauxite-Alumina-Aluminium complexes in Asia.
Chairman-cum-Managing Director (CMD)- Sridhar Patra
Headquarters– Bhubaneswar, Odisha
Established– 1981
Harini Amarasuriya Sworn-in as 16th PM of Sri Lanka
On 24th September 2024, Harini Amarasuriya (54 years old), leader of National People’s Power (NPP), officially sworn-in as 16th Prime Minister (PM) of Sri Lanka. She has replaced Dinesh Gunawardene who resigned from PM office after the result of recently held Sri Lanka Presidential election.
- She took her oath of office administered by Anura Kumar Dissanayake, President of Sri Lanka at the Presidential Secretariat in Colombo, Sri Lanka.
- She became the 3rd woman PM after Sirimavo Bandaranaike and Chandrika Kumaratunga.
About Harini Amarasuriya:
i.She is an academic and right activist. She was the university lecturer in the Department of Social Studies, Open University of Sri Lanka.
ii.Before entering into the mainstream politics, she started her career as public activist in 2011, when she participated in protests during the Rajapksha government demanding for free education.
iii.She campaigned for Anura Dissanayake of the Janatha Vimukthi Peramuna (JVP) in 2019 Presidential election.
iv.She became the Member of Parliament (MP) for the 1st time in 2020, when she was nominated by the NPP, an alliance led by JVP.
Appointment of New Cabinet Members:
i.President Anura Kumar Dissanayake has also appointed his new cabinet comprising 4 members, including himself.
- Other 3 cabinet members are: NPP parliamentarians, Harini Amarasuriya, Vijitha Herath and Laxman Nipunarachchi.
ii.This new cabinet will serve as the caretaker government till the next parliamentary election, which would take place on 14th November, 2024.
About Sri Lanka:
President- Anura Kumara Dissanayake
Prime Minister (PM)- Harini Amarasuriya
Capital- Sri Jayawardenepura Kotte (legislative capital), Colombo (judicial and executive capital)
Currency- Sri Lankan Rupee (SLR)
ACQUISITIONS & MERGERS
GoI Approves Sale of Ferro Scrap Nigam Ltd. to Japanese firm Konoike Transport for Rs 320 Cr
The Government of India (GoI) has approved the sale of Ferro Scrap Nigam Limited (FSNL) along with the transfer of management control to Japan’s Konoike Transport Cim Ltd. for Rs 320 crore. This marks the first privatisation in over 2 years.
- The sale was approved by the Alternative Mechanism, empowered by the Cabinet Committee on Economic Affairs (CCEA), comprising, Union Minister Nitin Gadkari, Ministry of Road Transport and Highways (MoRTH), Union Minister Nirmala Sitharaman, Ministry of Finance (MoF), and Union Minister HD Kumaraswamy, Ministry of Steel(MoS).
- CCEA had granted in-principle approval for FSNL’s disinvestment in 2016 and the reserve price was set at Rs 262 crore, with Konoike’s bid being the highest. The other bidder was Indic Geo Resources Private Limited, a subsidiary of Chandan Steel Ltd.
- FSNL is a Mini Ratna-II Government of India (GoI) Undertaking based in Bhilai (Chhattisgarh) and a subsidiary of MSTC Limited (formerly known as Metal Scrap Trade Corporation Limited), under the Ministry of Steel (MoS).
Note: The most recent successful strategic sale of a Public Sector Unit (PSU) was the acquisition of Neelachal Ispat Nigam Limited (NINL) by Tata Steel Long Products Limited (TSLP), a unit of Tata Steel Limited, as part of the government’s disinvestment program which was completed in 2022-23.
SPORTS
45th FIDE Chess Olympiad Budapest 2024: Team India won Gold in both Open and Women’s Event
Team India won the Gold medal in both the Open and Women’s section of the 45th International Chess Federation (FIDE- Fédération Internationale des Échecs) Chess Olympiad held in Hungary, Budapest.
- In Open section, Team India received the gold medals and the Hamilton-Russell Cup, and In Women’s section, Team India won the gold medals and the Vera Menchik Cup.
- For the first time, India won gold in both the Open and women’s section of the Chess Olympiad.
- India became the 3rd country to achieve the feat after China (2018) and the Soviet Union (Between 1980 and 1986, the Soviet Union had a streak of double golds).
About International Chess Federation (FIDE – Fédération Internationale des Échecs):
President– Arkady Dvorkovich
Headquarters– Lausanne, Switzerland
Founded– 1924
>> Read Full News
Team Europe won the Laver Cup 2024 by Defeating Team World
Team Europe captained by Swedish tennis player Björn Borg won the Laver Cup 2024 by defeating Team World captained by American tennis player John McEnroe. This marks the 5th win of Team Europe which has previously won the title in 2017, 2018, 2019 and 2021.
- Laver Cup 2024, the 7th edition of the annual men’s tennis tournament between Teams from Europe and the rest of the world, was held at the Uber Arena in Berlin, Germany from 20th to 22nd September 2024.
Note: Team World captained by John McEnroe won the Laver Cup title for the two consecutive time in 2022 and 2023.
Laver Cup 2024:
i.Prize Money: The Laver Cup 2024 has a total prize money pool of USD 2.25 million shared between the 12 main players representing the two teams.
- Each member of the winning team of the Laver Cup 2024 received a prize money of USD 250,000. The member of the losing side received USD 125,000 each.
ii.Team Europe included Alexander Zverev (Germany), Alexander Zverev (Spain), Daniil Medvedev (Russia), Casper Rudd (Norway), Grigor Dimitrov (Bulgaria) and Stefanos Tsitsipas (Greece).
iii.Team World included Taylor Fritz (United States of America-USA), Frances Tiafoe (USA), Ben Shelton (USA), Alejandro Tabilo (Chile), Francisco Cerúndolo (Argentina) and Thanasi Kokkinakis (Australia).
Highlights:
i.Carlos Alcaraz secured the 13-11 victory by defeating Taylor Fritz in straight sets in the singles match on day 3. Stefanos Tsitsipas also won the singles title for Team Europe by defeating Thanasi Kokkinakis.
ii.Carlos Alcaraz alongside Casper Ruud also won the doubles title by defeating Ben Shelton and Frances Tiafoe.
About Laver Cup:
i.The Laver Cup is an annual men’s tennis team tournament, named after Australian legend Rod Laver, who won 11 Grand Slams between 1960-1969, including four Wimbledon Championships.
ii.It was launched in 2017 and features two teams: Team Europe and Team World in a similar manner to the Ryder Cup in golf.
iii.The competition spans three days and the first team to reach 13 points out of a total 24 points available wins the Laver Cup.
Additional info:
i.The Laver Cup 2025 will be hosted by San Francisco, USA in September 2025 at the Chase Center.
ii.From 2025, Yannick Noah and Andre Agassi will take the lead as Captains of Team Europe and Team World respectively.
IMPORTANT DAYS
World Car-Free Day 2024 – September 22
World Car-Free Day is annually observed in cities across the globe on 22nd September to encourage motorists to give up their cars for a day. The day also highlights the benefits of going car-free such as reduced air pollution and promotes walking and cycling in a safer environment.
Background:
i.The first national car-free campaign was inaugurated in Britain by the Environmental Transport Association (ETA) in 1997.
ii.An international Car-Free Day was organised in Europe in 1999, which was the pilot project for the European Union’s (EU) “In Town Without My Car” campaign.
>> Read Full News
NSS Day 2024 – September 24
The National Service Scheme (NSS) Day is annually observed across India on 24 September to commemorate the establishment of NSS, a permanent youth Program under the Ministry of Youth Affairs and Sports (MYAS).
- 24 September marks the foundation day of NSS in 1969. NSS was established to develop the personality and character of young students through voluntary community service.
- NSS Day pays tribute to its founding and to recognise the significant role it has played in shaping the youth of India.
Note: NSS is a public service programme conducted by the Ministry of Youth Affairs and Sports(MYAS).
Objectives of the NSS Day:
The NSS Day serves to:
- Highlight the importance of social responsibility among youth;
- Promote the spirit of volunteerism; and
- Encourage students to contribute to nation-building.
History of NSS:
i.NSS was formally launched by the then Union Minister Dr.Vijayendra Kasturi Ranga Varadaraja Rao, Ministry of Education (MoE) on 24 September 1969, in 37 Universities covering all the states.
- The year 1969 commemorated the birth Centenary year of Mahatma Gandhiji, the Father of the Nation, who was born in 1869.
- Therefore, 24 September is celebrated every year as NSS Day.
- The idea of the NSS was proposed by Major General Jagannath Rao Bhonsle.
ii.NSS was started to establish a meaningful linkage between the Campus and the Community.
- The scheme was then extended to all states and universities in India, and also to the Grade 12 level institutes in many states.
iii.Student youth, teachers, and the community are considered the 3 basic components of the NSS.
Key Points:
i.The Motto of NSS is “Not Me But You”, reflecting the essence of democratic living and upholding the need for selfless service.
ii.The NSS symbol is inspired by the ‘Rath’ wheel of the Konark Sun Temple (The Black Pagoda) in Odisha.
- The 8 bars bars in the wheel symbolizing the 24 hours of the day, reminding volunteers to serve the nation round the clock.
- This giant wheel of the Sun Temple signifies the continuous cycle of creation, preservation, and release, symbolizing life’s movement across time and space.
- The Red and Blue colors in the logo motivate the NSS Volunteers to be active & energetic for the nation-building social activities.
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