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NATIONAL AFFAIRS
Overview of PM Modi’s visit to Maharashtra on 5th October, 2024
Prime Minister (PM) Narendra Modi was on one-day visit to Washim and Thane in Maharashtra on 5th October, 2024.
Key Highlights:
i.PM Modi launched several initiatives related to the agricultural and animal husbandry sector worth around Rs 23,300 crore in Washim, Maharashtra.
- He inaugurated over 7,500 projects under the Agriculture Infrastructure Fund (AIF), worth more than Rs 1920 crore .
ii.PM Narendra Modi inaugurated and laid the foundation stones of several initiatives of more than Rs 32,800 crore in Thane, Maharashtra. The main objective of these projects is to boost urban mobility in the Mumbai Metropolitan Region (MMR).
iii.He participated in Abhijat Marathi language program held in Mumbai, Maharashtra.
- While addressing the event, he informed that the Marathi language has officially been granted the status of a classical language by the Government of India (GoI).
About Maharashtra:
Chief Minister (CM) – Eknath Shinde
Governor- CP Radhakrishnan,
National Parks –Sanjay Gandhi National Park, Chandoli National Park
>> Read Full News
Cabinet Approvals on 9th October 2024
i.On 9th October 2024, the Union Cabinet chaired by Narendra Modi, Prime Minister (PM) of India, has approved the following proposals for,
- Development of the world-class National Maritime Heritage Complex (NMHC) by Ministry of Ports, Shipping & Waterways (MoPSW) at Lothal, Gujarat, to be executed in two phases.
- Construction of 2,280 km of roads in Rajasthan and Punjab, with an investment of Rs 4,406 crore.
- Continuation of the universal supply of Fortified Rice Kernels (FRK) under various Central Government schemes, including Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), from July 2024 to December 2028, at a cost of Rs 17,082 crore.
ii.The Cabinet Committee on Security (CCS) approved deals for the purchase of 31 MQ-9B High Altitude Long Endurance (HALE) Unmanned Aerial Vehicles (UAV) from General Atomics of the United States of America (USA), and indigenous construction of two Nuclear Attack Submarines (SSN).
About Directorate General of Lighthouses and Lightships (DGLL):
Director General– N. Muruganandam
Parent Ministry– Ministry of Ports, Shipping & Waterways (MoPSW)
Headquarters– Noida, Uttar Pradesh (UP)
>> Read Full News
Union Health Minister JP Nadda Addressed 77th Session of Regional Committee of WHO South East Asia Region
On 7th October 2024, Union Minister Jagat Prakash Nadda, Ministry of Health and Family Welfare (MoH&FW), addressed the 77th session of World Health Organisation (WHO) Southeast Asia Region (SEARO), one of the 6 WHO regions, in New Delhi, Delhi.
- The 77th session of the Regional Committee (RC77) for Southeast Asia was held from 7th to 9th October, 2024.
Key Points:
i.The session of WHO SEARO meeting included election of office bearers, establishment of a “Drafting Group for Resolutions and Decisions”, adoption of “Special Procedures” to regulate the conduct of the session and adoption of the provisional Agenda.
ii.During his inaugural address, Union Minister JP Nadda underscored that health system of India embraces a “whole of government” and “whole of society” approach to achieve Universal Health Coverage (UHC), with emphasis on strengthening primary healthcare and essential services.
About World Health Organisation (WHO):
Director General (DG)- Dr. Tedros Adhanom Ghebreyesus
WHO Regional Director for South-East Asia- Saima Wazed
Headquarters- Geneva, Switzerland
Established – 7th April, 1948
>> Read Full News
Interest Equalisation Scheme Extended for 3 Months; Capped at Rs 50 Lakh
The Directorate General of Foreign Trade (DGFT) has extended the Interest Equalisation Scheme on pre- and post-shipment rupee export credit for 3 more months till 31st December 2024 to promote India’s outbound shipments.
- The scheme, which was previously extended till 30th September 2024, provided interest benefits to exporters.
- The scheme is fund-limited, and benefits to individual exporters were earlier capped at Rs 10 crore per annum per IEC (Import Export Code). Now the cap is Rs 50 lakh.
i.The DGFT informed that fiscal benefits of each Micro, Small & Medium Enterprises (MSME), on aggregate, will be restricted to Rs 50 lakh for 2024-25 till December 2024.
ii.MSME manufacturer exporters who have already availed equalisation benefit of Rs 50 lakh or more till 2024-25 till 30th September 2024, will not be eligible for any further benefit in the extended period
iii.This scheme was started on April 1, 2015 and was initially valid for 5 years up to March 31, 2020. It has been continued thereafter, including a one-year extension, and with further extensions and fund allocations.
On 8th December 2023, the Union Cabinet approved an additional allocation of Rs 2,500 crore for the continuation of the scheme up to 30th June 2024.
INTERNATIONAL AFFAIRS
Secretary Gina Raimondo and Piyush Goyal Co-Chair 6th U.S.-India Commercial Dialogue Meeting
On 3rd October 2024, Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoCI) and Gina Raimondo, United States (US) Secretary of Commerce, co-chaired the 6th consecutive India-US Commercial Dialogue held in the US Department of Commerce, in Washington D.C., the United States of America (USA).
- Piyush Goyal was on a visit to the USA from 30th September 2024 to 3rd October 2024 at the invitation of Gina Raimondo.
About 6th India-US Commercial Dialogue:
Objective: To improve the business and investment climate between the two countries, with a renewed focus on new and emerging technologies.
Priority areas: Supply Chains Resilience; Climate and Clean Technology Cooperation; Inclusive Digital Growth; and Standards and Conformance Cooperation.
India, USA sign MoU on Critical Minerals Supply Chains
India and the USA signed a Memorandum of Understanding (MoU) to expand and diversify the critical minerals supply chain at a bilateral commercial dialogue held in Washington DC.
- The MoU aims to cooperate on strengthening supply chains in India and USA for lithium, cobalt and other critical minerals that are mainly used in electric vehicles and clean energy applications.
- This will provide complementary strengths and will mutually benefit the development of Indian and US critical minerals exploration, extraction, processing, recycling, and related activities.
Other initiatives:
i.The meeting witnessed the launch of a new effort under the Innovation Handshake agenda to accelerate innovation specifically in energy security, technology, and sustainability
ii.The Secretary and the Minister looked forward to the U.S. Department of Commerce-led Global Diversity Export Initiative Trade Mission to India in early March 2025, with a focus on expanding opportunities in the Indian market for U.S. Small and Medium Enterprises (SMEs)that are owned, operated, or led by members of underserved communities.
iii.India and USA are planning to expand Startup and SME Resources in Bengaluru, Karnataka.
iv.Both India and USA are strengthening collaboration to boost the travel and tourism sector.
v.Collaboration to improve the current state of the Active Pharmaceutical Ingredients (API) industrial base, production capacities, and emergency response capabilities is been planned out by India and the USA.
About the United States of America (USA):
President – Joe Biden
Capital– Washington, D.C.
Currency– United States Dollar (USD)
BANKING & FINANCE
IFC Partners with Axis Bank to Provide USD 500 Million Loan to Fund Green Projects in India
On 7th October 2024, the International Finance Corporation (IFC), private lending arm of the World Bank Group (WBG) has partnered with Axis Bank Limited, India’s leading Private Sector Bank, to provide a loan worth USD 500 million (about Rs 4,200 crore) to help develop a blue finance market and scale up financing of green projects in India.
- This marks the first blue investment by the IFC in India and the 1st blue transaction by a financial institution in the country.
- This loan funding will enable Axis Bank to expand its climate finance portfolio.
Significance:
i.Due to India’s rapid urbanisation and economic growth, there is major opportunity to enhance water and energy efficiency.
- As of 2022, the water and wastewater treatment market size was estimated at USD 1.6 billion and is expected to reach USD 3 billion by 2029.
ii.Also, the green buildings sector offers an investment opportunity of USD 1.4 trillion by 2030, which will be mainly driven by a need of sustainable infrastructure. Major part of these investments need to come from the private sector in order to reduce the dependence on limited public funding.
Points to Note:
i.Axis Bank is among the 1st Indian banks to have board-approved Environmental, Social and Governance (ESG) policy for lending that complies with the IFC performance standards.
ii.Axis Bank has also publicly committed to increase financing in Environmental, Social and Governance (ESG)-aligned sectors to Rs 60,000 crores (approximately USD 7.2 billion) by 2030 (from August 2021), of which Rs 30,000 crores (approximately USD 3.1 billion) of incremental financing was achieved by March 2024.
iii.In 2016, the bank issued 1st green US dollar (USD) bond and also the 1st sustainable US dollar Additional Tier 1(AT1) bond from India in 2021.
Important terms:
i.Blue loan: It is an financial instrument which is used to raise and earmark funds for investments such as water and waste water management, reduction of marine plastic pollution, restoration of marine ecosystems, sustainable shipping, among others.
ii.Green loan: It is a financial product which is used to fund projects that are sustainable and eco-friendly.
iii.Brown loan: It is non-sustainable financing and investment product which supports the fossil fuel and carbon intensive activities.
About International Finance Corporation (IFC):
Managing Director (MD)– Makhtar Diop
Headquarters- Washington DC, the United States of America (USA)
Established- 1956
About Axis Bank Limited:
Managing Director (MD) and Chief Executive Officer (CEO)– Amitabh Chaudhary
Headquarters– Mumbai, Maharashtra
Tag line– Badhti ka Naam Zindagi
Vivriti Capital Raises USD 25 Million ADB Loan for Climate Bond
Vivriti Capital Limited (VCL), a non-banking finance company (NBFC), raised a USD 25 million senior secured debt facility from the Asian Development Bank (ADB) to lend towards its climate finance initiatives.
- This 4-year tenor bond is the 1st by an NBFC which will be used to expand its green finance portfolio.
- At least 30% of the funds will be earmarked for Electric Vehicle(EV) financing, including charging stations and battery swapping stations.
- The bond, certified by the Climate Bonds Initiative, aims to enhance access to climate finance for financially underserved enterprises, including micro, small, and medium-sized enterprises (MSMEs), mid-market corporates, and retail clients in India.
Note: India has set ambitious targets in its updated nationally determined contributions, including reducing carbon emissions by one billion tons by 2030 and achieving Net-Zero emissions by 2070.
AWARDS & RECOGNITIONS
South Korean Novelist Han Kang won Nobel Prize in Literature 2024
South Korean writer & novelist Han Kang won the Nobel Prize in Literature 2024 “for her intense poetic prose that confronts historical traumas and exposes the fragility of human life.”
- She became the first South Korean to win a Nobel prize in literature and the 2nd Nobel laureate from South Korea after Former South Korean President Kim Dae Jung, who won the Nobel Peace Prize in 2000.
- The Royal Swedish Academy of Sciences in Stockholm, Sweden announced the award on 10th October 2024.
Pritpal Kaur selected as ‘2024 IACP 40 Under 40’ for exemplifying leadership and law enforcement
The United States of America(USA) based International Association of Chiefs of Police(IACP) selected an Indian Police Service (IPS) officer Pritpal Kaur, Superintendent of Police (SP) of the Phek district(Nagaland) for ‘2024 IACP 40 Under 40’ award. She is the only Indian selected for this year award.
- Pritpal Kaur is among 40 police officers selected from 6 countries around the world for the award.
- She has been invited to Boston, Massachusetts(the USA) to receive the ‘2024 IACP 40 Under 40’ award on October 22, 2024.
About IACP 40 Under 40 Award:
i.The professionals chosen as the ‘40 Under 40’ awardees represent the rising leaders of policing, regardless of rank or title, and have served their agencies, colleagues, and communities with excellence, whether they are professional staff, patrol officers, investigators, supervisors, or chiefs of police.
ii.Each winner was chosen for demonstrating strong values, leadership capability, and commitment to the law enforcement field.
About Pritpal Kaur:
i.Pritpal Kaur is a 2016 batch IPS officer and a social contributor. She was a dentist and won the gold medal in dentistry.
ii.Earlier, she had served as the police chief of the Noklak and Longeng districts in Nagaland.
iii.She has been praised for empowering local communities through innovative projects like “fighting drugs with education and livelihood and not guns but machines”.
iv.Through these initiatives she taught people how to use their skills to make electric bicycles, dryers, and other low-cost farm and domestic machines.
Awards:
She has won several awards, including International Inspiration Women Award (2023), Skoch Gold Award (2023), Director General of Police(DGP) Disc Award, Women Power India Award (2023), and Global Women Leader Award (2024).
Additional Info:
She considers her tribal name ‘Themshao Lam’, given by the Khaimnuingan Naga community as one of her greatest honours. The Khiamnuingans primarily inhabit the Noklak district in Nagaland.
About International Association of Chiefs of Police(IACP):
President – John Letteney
Headquarters – Virginia, the United States of America(USA)
Founded – 1893
TN CM M.K. Stalin honoured with Asia HRD Lifetime Achievement award
Muthuvel Karunanidhi Stalin (MK Stalin), Chief Minister (CM) of Tamil Nadu (TN), was honoured with the Lifetime Achievement award by the Asia Human Resource Development (Asia HRD) Academy in recognistion of his exceptional contributions to Human Resource (HR) management.
- The award was presented by Fahmi Jowder, Former Minister of Bahrain and Chairman of Asia HRD Award Committee and Mohamed Waheed Hassan Manik, Vice Chairman of Asia HRD Awards Committee, and former President of Maldives, at the Chief Secretariat in Chennai, TN.
About Asia HRD Awards:
i.The Awards are presented in 5 categories – Lifetime Achievement, Contribution to Society, Contribution to Organisation, Contribution to HR Community, Movers and Shakers — of which, each has its own set of criteria.
ii.The recipients of each category are decided based on the detailed biography, occupation and achievement record of the nominees.
Note: Previous recipients include notable leaders such as Fidel V. Ramos (Philippines), Pehin Sri Haji Abdul Taib Mahmud (Malaysia), and Haris Silajdzic (Bosnia and Herzegovina) , among others.
SEEMS Award: Gujarat’s SVPI Airport won Platinum Award for Energy Efficiency
Sardar Vallabhbhai Patel International (SVPI) Airport in Ahmedabad(Gujarat), managed by Adani Airport Holdings Limited (AAHL), a subsidiary of Adani Enterprises, has won the Platinum Award in the Airport Sector under Facility Category at the Society of Energy Engineers and Managers (SEEM) Awards held in New Delhi, Delhi.
- The award highlights the airport’s dedication towards creating a greener and more sustainable airport facility.
- SVPI airport won the award for its sustainable and energy-efficient initiatives like installing an efficient centrifugal chiller, resulting in 30% energy saving.
- The airport replaced 8 Internal Combustion Engine (ICE) vehicles with Electric Vehicles (EVs), leading to annual diesel savings of approximately 5,000 litres.
SPORTS
Bihar CM Nitish Kumar unveils Logo, Mascot for Women’s Asian Champions Trophy-2024
Nitish Kumar, Chief Minister (CM) of Bihar, unveiled the Logo and mascot named “Gudiya” of the Women’s Asian Champions Trophy-2024 which is scheduled to be held from 11th to 20th November 2024 in Rajgir, Bihar.
Note: The Bihar cabinet has scanctioned Rs 10 crore to Hockey India for hosting the 2024 Championship.
About Mascot – Gudiya:
i.Gudiya is the term of endearment in Bihar for young girls.
ii.The Mascot is inspired by the house sparrow, an endangered species and the state bird of Bihar. It represents resilience, strength, and natural heritage.
iii.Gudiya, holding a hockey stick, symbolizes the sport, while the goalkeeper’s glove and nearby hockey ball represent strategy and teamwork, emphasizing the government’s commitment to women’s empowerment.
About Logo:
i.The logo featurs the Bodhi tree and a hockey stick.
ii.The Bodhi tree symbolizes knowledge, power, harmony, tolerance, and development, connecting people to Bihar’s rich spiritual and cultural history, while the hockey stick represents India’s national sport.
About Women’s Asian Champions Trophy-2024:
i.2024 Women’s Asian Champions Trophy is the 8th edition of the Women’s Asian Champions Trophy, a biennial field hockey tournament for the six best Asian women’s national teams.
ii.The event was orgnised by Hockey India and Bihar Governemnt with the support from the Asian Hockey Federation (AHF).
iii.The tournament will take place from 11th to 20th November 2024 at the newly developed Rajgir Hockey Stadium, Rajgir, Bihar.
iv.Participating countries– India(host and defending champion), China, Thailand, Malaysia, South Korea and Japan.
- India has previously won the championship in 2016 and 2023.
Football: India won the SAFF U-17 Championship 2024 held in Bhutan
India’s Under-17 men’s football team(the Blue Colts), won the 2024 South Asian Football Federation (SAFF) U-17 Championship by defeating Bangladesh (2-0) in the final held at the Changlimithang Stadium in Thimphu, Bhutan.
- This marks the 6th SAFF championship title of India. India has previously won the title in 2013, 2017, 2019, 2022, and 2023.
- The 2024 SAFF U-17 Championship is the 9th edition of the international football competition for men’s U-17 national teams. The competition was held from 20th to 30th September 2024.
- Mohammedd Arbash (India) was named the Player of the Tournament. Aheibam Suraj Singh (India) was named the Goalkeeper of the Tournament.
Note: Seven teams – India, Bangladesh, Bhutan, Maldives, Nepal, Sri Lanka and Pakistan participated in the 2024 Men’s SAAF U17 Championships.
IMPORTANT DAYS
Breast Cancer Awareness Month – October 1 to 31, 2024
Breast Cancer Awareness Month (BCAM) is observed globally from October 1 to 31 every year to raise awareness about breast cancer and its impact worldwide.
i.The theme for Breast Cancer Awareness Month 2024 is “No one should face breast cancer alone.”
- This theme emphasizes the importance of support for individuals diagnosed with breast cancer, highlighting the challenges they may face in isolation.
ii.BCAM was first observed in October 1985, initiated by the American Cancer Society (ACS) and pharmaceutical division of Imperial Chemical Industries.
>> Read Full News
STATE NEWS
Meghalaya CM Conrad K Sangma launches GREEN Meghalaya Plus Scheme
Meghalaya Chief Minister(CM) Conrad Kongkal Sangma launched the GREEN (Grassroot level Response Towards Ecosystem Enhancement and Nurturing) Meghalaya Plus (GMP) Scheme in Tura, West Garo Hills District to provides financial incentives of up to Rs 20,000 per hectare annually to communities and individuals involved in forest conservation.
- It reflects the government’s strong commitment to sustainable development and environmental preservation.
About GMP Scheme:
i.The GREEN Meghalaya Plus initiative is a key component of the state government’s Payment for Ecosystem Services (PES) program, which was introduced in 2022 to promote forest conservation.
- This scheme aimed at combating climate change, preserving biodiversity, and improving the livelihoods of local communities through eco-friendly development projects.
ii.The objective of the scheme is to increase Meghalaya’s green cover by an additional 50,000 hectares (500 square kilometers) through active community participation.
- The state government has earmarked Rs 200 crore for future forest conservation activities.
iii.The guidelines have been updated, reducing the minimum land requirement from 2 hectares to 1 hectare. This change allows smaller landowners and communities to join, making the program more inclusive.
About Payment for Ecosystem Services (PES) Program :
i.The Payment for Ecosystem Services (PES) scheme in Meghalaya was launched on June 13, 2022, by Chief Minister Conrad Sangma. This initiative aims to provide financial incentives for the conservation of forests and natural resources, focusing on empowering local communities and individuals to engage in sustainable practices.
ii.Under the PES scheme, communities, clans, and individuals can receive up to Rs 8,000 per hectare per year for a period of five years for conserving natural forests.
- Additionally, extra rewards are available Rs 5,000 per hectare for areas already designated as community reserves and Rs 2,000 per hectare for very dense forests or sacred groves located in eco-sensitive zones.
About Meghalaya
Chief Minister (CM)- Congrad Kongkal Sangma
Governor– Chadrashekhar H. Vijayashankar
Capital– Shillong
National Parks- Balpakram National Park, Nokrek National Park
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