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NATIONAL AFFAIRS
PM Modi Laid Foundation & Dedicated Projects worth Rs.11,200 Crore Projects in Maharashtra
On 29th September 2024, Prime Minister (PM) Narendra Modi virtually laid the foundation stone and commenced various projects worth Rs.11,200 crore in Maharashtra.
i.PM Modi inaugurated the Pune Metro section (from District Court to Swargate) marking the completion of the Pune Metro Rail Project (Phase-1) and laid the foundation stone for Swargate-Katraj Extension of Pune Metro Phase-1.
ii.PM Modi also dedicated to the nation Bidkin Industrial Area (BIA),
iii.PM Modi inaugurated the Solapur Airport and laid the foundation stone for the Memorial for Krantijyoti Savitribai Phule’s First Girls’ School at Bhidewada.
About Maharashtra
Chief Minister (CM)– Eknath Shinde
Governor– C. P. Radhakrishnan
Airport– Akola Airport; Aurangabad Airport
UNESCO Heritage Sites– Ajanta Cave; Ellora Caves
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MoS Prof. S.P. Singh Baghel Inaugurated National Conference on PESA Act in New Delhi
On 26th September 2024, Union Minister of State (MoS) Prof. S.P. Singh Baghel, Ministry of Panchayati Raj (MoPR) inaugurated and addressed National Conference on the Panchayats (Extension to Scheduled Areas) Act, 1996 (PESA) at Dr. Ambedkar International Central in New Delhi, Delhi.
i.The conference witnessed the launch of PESA – GPDP (Gram Panchayat Development Plan) portal and seven action-oriented Specialized Training Modules aimed to enhance the effectiveness of GPDPs and training initiatives.
ii.The MoPR also introduced initiatives like the Functional Activity Mapping Dashboard for monitoring State actions on the 29 Subjects outlined in the 11th Schedule of the Constitution, the PESA Training Manual for Vth Schedule Areas, and the PESA–GPDP Portal to facilitate village-based development planning.
About Ministry of Panchayati Raj (MoPR):
Union Minister- Rajiv Ranjan Singh alias Lalan Singh (Constituency- Munger, Bihar)
Minister of State (MoS) – S.P. Singh Baghel (Constituency- Agra, Uttar Pradesh, UP)
>> Read Full News
INTERNATIONAL AFFAIRS
India ranked 39th in Global Innovation Index 2024; Switzerland Tops for 14th Consecutive Year
According to the World Intellectual Property Organization’s (WIPO) report titled 17th edition of the ‘Global Innovation Index (GII – 2024)– Unlocking the Promise of Social Entrepreneurship’, India secured the 39th position out of a total of 133 economies with a score of 38.3. In GII 2023, India’s rank was 40th with a score of 38.1.
- The index has been topped by Switzerland for the 14th consecutive year. It is followed by Sweden at 2nd rank and the United States of America (USA) at 3rd.
- The GII has been co-published annually since 2007 by the World Intellectual Property Organization (WIPO), INSEAD( Paris, France), Cornell University( New York, the United States of America, USA). It ranks the world economies according to their innovation capabilities on the basis of 80 indicators.
About World Intellectual Property Organization (WIPO):
It is the global forum for Intellectual Property (IP) services, policy, information and cooperation with 193 member states (as of October 1, 2024).
Director General– Daren Tang
Headquarters– Geneva, Switzerland
Establishment– 1967
>> Read Full News
India elected to the steering committee of the GlobE Network
On 26th September 2024, India was elected to the 15-member GlobE Steering Committee of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) during the 5th plenary meeting and the 8th Steering Committee meeting of the GlobE Network in Beijing, China.
- India’s election to the steering committee will allow it to actively contribute to global efforts in combating corruption and facilitating asset recovery.
Note: Two high-level principles for combating corruption were adopted during India’s G-20 Presidency in 2023, which detailed leveraging of the GloBE Network.
About GlobE Network:
i.The GloBE Network was officially launched on June 3, 2021, during a special event at the UN General Assembly Special Session against Corruption (UNGASS). It includes 121 member countries and 219 member authorities.
- The Ministry of Home Affairs (MHA) serves as the Central Authority for GlobE Network in India, while the Central Bureau of Investigation (CBI), Ministry of Personnel, Pension & Public Grievances(MoPP&P) and Enforcement Directorate (ED), Ministry of Finance(MoF) representing India as member authorities.
ii.The GlobE Network is an initiative launched under the G20 framework to address international corruption and financial crime. India has been a supporter of this initiative since 2020.
- It is supported by the United Nations Office against Drugs and Crime (UNODC).
iii.It has one chair, one vice-chair and 13 members in the Steering Committee for providing leadership to the organisation.
iv.It has emerged as a unique platform where agencies from across the world share best practices, criminal intelligence, develop strategies, and support in the common cause of combating corruption.
BANKING & FINANCE
SEBI Amended Delisting Regulations; Introduced Fixed Price Process for Voluntary Delisting
On 25th September 2024, the Securities and Exchange Board of India (SEBI) has amended the Delisting of Equity Shares Regulations, 2024 which has now allowed companies to delist shares through a fixed price process as an alternative to the Reverse Book Building (RRB) process. This will help in facilitating ease of doing business for listed firms.
- These amendments are introduced by SEBI in exercise of powers given by section 31 read with section 21A of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and section 30, sub-section (1) of section 11 and sub-section (2) of section 11A of the SEBI Act, 1992 (15 of 1992).
- These new regulations are now known as the SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2024.
About Securities and Exchange Board of India (SEBI):
SEBI is the apex regulatory body for securities and commodity market in India. It was initially established as non-statutory body in April 1988. Later, SEBI was accorded the status of statutory body through SEBI Act, 1992 on 30th January, 1992.
Chairman- Madhabi Puri Buch
Headquarters– Mumbai, Maharashtra
>> Read Full News
IDBI Bank Launches OTS scheme for retail NPA borrowers to Boost Recovery
IDBI Bank has launched the ‘Sugam Rinn Bhugtan Yojana (SUGAM Scheme)‘, a one-time settlement (OTS)/Negotiated Settlement scheme aimed at recovering non-performing retail loans. The scheme is available to borrowers with outstanding principal between Rs 10 lakh and Rs 10 crore, offering relaxed terms for loans classified as Non-Performing Assets (NPAs) as of March 31, 2021, and continuing through August 31, 2024.
- The scheme runs from 2nd September 2024 to 25th March 2025.
Key Points:
i.The scheme provides distressed borrowers a chance to settle dues and avoid legal complications.
ii.It addresses long-pending cases by facilitating recovery from retail NPAs.
iii.Borrowers must pay at least 10% of the settlement amount by 31st December 2024, with the balance due within 90 days of the Letter of Approval (LOA) without interest.
iv.Alternatively, the balance can be paid by March 25, 2025, with an interest rate based on the 1-year MCLR as of August 31, 2024, plus 2% simple interest beyond 90 days from the LOA.
v.All payments must be completed by March 25, 2025, even if fewer than 90 days remain from the LOA date.
vi.Borrowers ineligible for the OTS include those with vendor bill discounting, vendor finance, corporate guarantees, or cases under the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC).
About IDBI bank:
Chief Executive Officer (CEO)– Rakesh Sharma
Headquarters– Mumbai Maharashtra
Tagline– Banking For All
Establishment– 1964
MMRDA Secured Rs 31,673.79 Crore Loan from PFC to Fast Track Mumbai’s 9 Infrastructure Projects
The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a loan worth Rs 31,673.79 crores from the Power Finance Corporation (PFC) under the Ministry of Power (MoP) to fast track the development of 9 key infrastructure projects in the Mumbai Metropolitan Region(MMR).
- This is a significant step towards the implementation of key initiatives aimed at enhancing connectivity, boosting economic growth, and elevating the overall quality of life for residents MMR.
Detail of the Loan Agreement:
i.As per the agreement, 80% of the total projects costs will be covered by the loan, while, the remaining 20% will be financed from government grants and MMRDA contributions.
ii.The major amount of sanctioned loan i.e. Rs 15,071 crores will be allocated specifically for the Thane-Borivali Twin Tunnel Project, an initiative aimed at drastically reducing travel time between these two bustling cities.
iii.The remaining Rs 16,602.79 crores will be used for the development of 8 other major infrastructure projects, which include: the construction of the Thane Coastal Road (Phase I), the extension of the Eastern Freeway from Ghatkopar to Thane, and the development of an elevated road from from National Highway No. 4(NH4) to Katai Naka.
iv.Other key projects covered under this loan agreement are: the construction of several creek bridges and access roads to connect Thane, Kharbao, Bhiwandi, and surrounding areas, as well as the development of elevated roads along the Eastern Express Highway and Kalyan Murbad Road.
About Mumbai Metropolitan Region Development Authority (MMRDA):
Metropolitan Commissioner- Dr. Sanjay Mukherjee
Headquarters- Mumbai, Maharashtra
About Power Finance Corporation Limited (PFC):
Chairman and Managing Director (CMD) – Parminder Chopra
Headquarters- New Delhi, Delhi
Established- 1986
ECONOMY & BUSINESS
BEL set to enter space sector, signs agreement with Canada’s Reliasat
Bharat Electronics Limited (BEL), a Navratna Public Sector Undertaking (PSU) under the Ministry of Defence(MoD), signed a Teaming Agreement with Reliasat Inc. Canada to collaborate in the area of space products, at BEL’s Corporate Office in Bengaluru, Karnataka.
- The agreement was signed by Mr K V Suresh Kumar, Director (Marketing), and Gurvinder Chohan, Chief Executive Officer (CEO) of Reliasat Inc.
- The agreement aims to leverage the capabilities of both the companies in the domain of space.
SCIENCE & TECHNOLOGY
ISRO, IN-SPACe & NSIL sign 5 TTA with Non-Governmental Entities
Indian Space Research Organisation (ISRO), Indian National Space Promotion and Authorization Centre (IN-SPACe), and NewSpace India Limited (NSIL) have signed 5 Technology Transfer Agreements (TTAs) with Non-Governmental Entities (NGEs).
- With this, the total number of agreements signed post space reforms becomes 75.
i.The TTAs were signed with Anabond Limited, Salvo Industries Private Limited, Micropack Pvt. Ltd., and Astra Microwave Products Ltd at IN-SPACe in Bengaluru, Karnataka.
ii.These agreements are part of the government initiative to grant private players access to ISRO’s advanced technologies, fostering innovation and commercial applications across various sectors.
iii.ISRO, IN-SPACe and NSIL will enable greater participation, foster new ventures, and strengthen India’s position in the global space ecosystem.
China Successfully Launched 6 new satellites
On 20th September 2024, China successfully launched six new satellites – “Jilin-1 Kuanfu 02B (01-06)” into space from the Taiyuan Satellite Launch Center in north China’s Shanxi Province.
- Jilin-1 Kuanfu (wideband) 02B satellites numbers 1-6 were launched aboard a Long March-2D carrier rocket.
- This marked the 536th flight mission of the Long March carrier rocket series
- This satellite features a high resolution and wide-field-of-view telephoto range imager for high-resolution land observation.
SPORTS
Dwayne Bravo Retires From All Forms of Cricket; Joins KKR as Mentor
West Indies cricketer Dwayne Bravo(40-year-old), two-time Men’s Twenty20 (T20) World Cup winner, has announced his retirement from all forms of cricket. He retired from international cricket in 2021.
- He has completed a 21-year journey in the field of cricket. His final appearance was cut short by an injury during the 2024 Caribbean Premier League (CPL).
Dwayne Bravo joins KKR as Mentor; Replaced Gautam Gambhir
Kolkata Knight Riders (KKR), a professional franchise cricket team of the Indian Premier League (IPL), has announced Dwayne Bravo as KKR’s new mentor succeeding Gautam Gambhir.
- Gautam Gambhir, who led the KKR since since 2014, was appointed as the head coach of India national cricket team for 3 years (till 2027)..
- Bravo has previously worked as the bowling coach of the Chennai Super Kings (CSK).
- He will also be a part of KKR’s other franchises globally, including CPL, Major League Cricket (MLC), and the International League Twenty20 (ILT20).
About Dwayne Bravo
i.Dwayne John Bravo made his One Day International (ODI) debut in 2004 and T20I debut in 2006. He served as the limited-overs captain of West Indies from 2013 to 2014.
ii.In domestic cricket, Bravo has played for his native Trinidad and Tobago since 2002.
iii.He was a key member of the West Indies team that won the International Cricket Council (ICC) Champions Trophy 2004 and the ICC World T20 World Cup in 2012 and 2016.
iv.He has played 582 T20 matches, taken 631 wickets, and scored nearly 7,000 runs.
- He has more championship wins than any other cricketer.
IPL Carrer:
i. As a part of the IPL team CSK, he has also won four IPL titles in different roles – 2011, 2018, 2021 as a player and 2023 as a coach.
- He has also played for other IPL teams such as Mumbai Indians (2008, 2009, 2010) and Gujarat Lions (2016).
ii..He is the third-highest wicket-taker in IPL history with 183 wickets and also the first player to win two purple caps in the tournament, in 2013 and 2015.
OBITUARY
Oscar Winning British Actor & Harry Potter Star Dame Maggie Smith Passed Away
British actor Dame Maggie Smith, a double Oscar winner who is well known for her role as Professor Minerva McGonagall in the Harry Potter film series, passed away at the age of 89 in London, the United Kingdom (UK). She was born as ‘Margaret Natalie Smith’ on 28th December 1934 in Ilford, Essex, UK.
About Dame Maggie Smith:
i.Maggie Smith made her acting debut in 1952 in an uncredited role in the British drama ‘Child in the House’.
ii.She made her professional debut in 1956 at the Oxford Playhouse, playing Viola in Shakespeare’s “Twelfth Night”.
iii.She was made a Dame Commander of the British Empire, the equivalent of a knight, by the late Queen Elizabeth II in 1990.
Noted Works and Awards:
i.She won the Academy Awards (Oscars) for Best Actress for “The Prime of Miss Jean Brodie” (1969) and Best Supporting Actress for “California Suite” (1978)
ii.She has also won 3 Golden Globe awards which includes Best Actress – Motion Picture Comedy or Musical for “California Suite”; Best Supporting Actress – Motion Picture for “A Room with a View” (1986) and Best Supporting Actress – Television for “Downton Abbey”.
iii.She won the 5 The British Academy of Film and Television Arts (BAFTA) awards which includes Best Actress for “The Prime of Miss Jean Brodie”and “A Private Function” (1984); Best Actress in a Leading Role for “A Room with a View” and “The Lonely Passion of Judith Hearne” (1988) and Best Actress in a Supporting Role for “Tea with Mussolini” (1999).
BOOKS & AUTHORS
Arundhati Roy’s first memoir ‘Mother Mary Comes to Me’ to release in September 2025
Renowned Indian Author and 1997 Booker Prize winner Arundhati Roy, is set to publish her first memoir titled “Mother Mary Comes to Me” in September 2025. The book will be published by Penguin Random House.
- The book offers an intimate account of how she became the person and the writer she is.
- The book was inspired by the death of her mother and women’s rights activist Mary Roy in September 2022.
- The book will be simultaneously published in the United Kingdom (UK) (Hamish Hamilton), the United States of America (USA) & Canada (Scribner), Germany (Fischer), France (Gallimard), Italy (Guanda), Spain (Alfaguara/PRH), the Netherlands (Park Uitgevers), Sweden (Bromberg), Finland (Otava) and Norway (Pax).
Note: She received the Booker Prize for The God of Small Things in 1997. Her other noted works include ‘The Ministry of Utmost Happiness’; ‘The End of Imagination’; ‘The Doctor and The Saint’ and ‘The Algebra of Infinite Justice’.
IMPORTANT DAYS
World Contraception Day 2024- September 26
World Contraception Day is annually observed across the world on 26th September to improve awareness of all contraceptive methods available and enable young people to make informed choices on their sexual and reproductive health.
- 26th September 2024 marks the observance of the 18th World Contraception Day.
- The theme for World Contraception Day 2024 is “A Choice for all. Freedom to plan, power to choose.”
Background:
i.World Contraception Day was established by the 10 International Family Planning Organizations to highlight the significance of contraceptive measures as informed choices in family planning.
ii.The first-ever World Contraception Day was observed on 26th September 2007.
>> Read Full News
World Rabies Day – September 28 2024 
World Rabies Day is annually observed across the globe on 28th September to create awareness about rabies, a viral, zoonotic and neglected tropical disease. The day emphasises the importance of rabies prevention and highlights progress in defeating rabies.
- The day also marks the death anniversary of Louis Pasteur, a French chemist and microbiologist, who developed the first rabies vaccine in 1885.
- 28th September 2024 marks the observance of the 18th World Rabies Day.
- The theme of World Rabies Day 2024 is “Breaking Rabies Boundaries”.
Background:
i.World Rabies Day was established by the Global Alliance for Rabies Control (GARC) and recognised by the World Health Organization (WHO).
ii.The first-ever World Rabies Day was celebrated on 28th September 2007.
>> Read Full News
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