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NATIONAL AFFAIRS
Centre Reconstitutes 8 Cabinet Committees
On July 3 2024, The Narendra Modi-led National Democratic Alliance (NDA) Government reconstituted 8 Cabinet Committees of the Union Cabinet after being sworn in for the record third consecutive time.
Key Points:
i.There are a total 72 members of the Union Council Minister, including the Prime Minister (PM) Narendra Modi. Of which 31 are of Cabinet rank and they are part of the newly reconstituted Cabinet sub-committees.
ii.Of the total eight committees,six of them were headed by the PM and the remaining one will be headed by the Home Minister and other by the Defence Minister.
iii.The eight Cabinet Committees are: The Appointments Committee of the Cabinet (ACC), Cabinet Committee on Security (CCS), Cabinet Committee on Accommodation (CCA), Cabinet Committee on Economic Affairs (CCEA), Cabinet Committee on Parliamentary Affairs, Cabinet Committee on Political Affairs (CCPA), Cabinet Committee on Investment and Growth (CCIG), and Cabinet Committee on Skill, Employment and Livelihood.
>> Read Full News
The Government of India Hosted the “Global IndiaAI Summit” on 3rd July to 4th July, 2024 in New Delhi
The Government of India (GoI) hosted the “Global IndiaAI Summit” on July 3rd to 4th July at Bharat Mandapam, New Delhi, Delhi. The summit was organised by the Ministry of Electronics and Information Technology (MeitY), GoI.
- The summit aimed to foster collaboration and the knowledge exchange among global AI stakeholders, which reflects India’s unwavering commitment to the responsible development, deployment, and adoption of Artificial Intelligence (AI) technologies.
Key Points:
i.The MeitY organised total 12 sessions on the sidelines of the summit and these sessions were attended by 2,000 global AI experts, policy makers, AI practitioners and over 10,000 AI enthusiast attended them virtually.
ii.The summit was mainly focused on advancing AI development in key areas which include: Compute Capacity, Foundational Models, Datasets, Application Development, Future Skills, Startup Financing, and Safe AI. These all are 7 key pillars of IndiaAi Mission.
About Ministry of Electronic and IT (MeitY):
Union Minister- Ashwini Vaishnaw (Rajya Sabha member- Odisha)
Minister of State (MoS)- Jitin Prasada(Lok Sabha constituency- Pilibhit, Uttar Pradesh)
>> Read Full News
NITI Aayog Launches Sampoornata Abhiyan Campaign for Development of Aspirational Districts & Blocks 
NITI Aayog(National Institution for Transforming India) launched the‘Sampoornata Abhiyan(Completeness Campaign)’, a 3-month campaign, with an aim to achieve 100% saturation of 12 key social sector indicators across all Aspirational Districts and Aspirational Blocks (6 each).
- Campaign Period: 4th July 2024 to 30th September 2024.
i.Launch Event: The Sampoornata Abhiyan’s launch events were organised across all the 112 Aspirational Districts and 500 Aspirational Blocks across India.
ii.Objective: To accelerate the development in under developed districts and blocks by achieving saturation in selected indicators of Aspirational Districts Programme (ADP) and Aspirational Blocks Programme(ABP).
About NITI Aayog(National Institution for Transforming India):
NITI Aayog was formed via a resolution of the Union Cabinet on 1 January 2015.
Chairman– Narendra Modi (Prime Minister of India)
Chief Executive Office(CEO)– B.V.R. Subrahmanyam
Headquarters– New Delhi, Delhi
>> Read Full News
IAF Inaugurates Weapon Systems School at AFS Begumpet, Hyderabad
Air Chief Marshal Vivek Ram Chaudhari, Chief of the Air Staff (CAS) of the Indian Air Force (IAF), inaugurated the Weapon Systems School (WSS) at Air Force Station (AFS) Begumpet, Hyderabad (Telangana), to recalibrate and transform the IAF into a future-oriented force.
- This follows the approval of the Weapon System (WS) branch, a new branch of officers in the IAF, in 2022.
- The WSS aims to provide contemporary, effect-based training for the officers of the newly formed WS branch.
- The new branch will have four streams: Flying stream to operate the weapons and systems in airborne platforms like the Sukhoi-30 MKI and C-130J; Remote stream to operate remotely piloted aircraft; Mission commanders and operators for Surface to Air and Surface-to-Surface weapon systems, and Intelligence stream for handling space-based intelligence and imagery.
INTERNATIONAL AFFAIRS
Hong Kong, Singapore and Zurich lead Global Costliest Cities; Mumbai Tops in India: Mercer Report
According to the Mercer’s latest ”Cost of Living City Ranking 2024” report, Mumbai (Maharashtra) emerged as the costliest city in India, compared to all the Indian cities featured in the report.
- Overall, Mumbai has secured 136th spot in the report, up by 11spots compared to 2023.
Key Points:
i.Hong Kong, Special Administrative Region (SAR) (China), Singapore (Singapore) and Zurich (Switzerland) ranked at 1st, 2nd and 3rd spot respectively, emerged as the world’s top3 Costliest Cities in 2024 for 2nd consecutive year.
ii.As per the report, Abuja, Nigeria (226th), Lagos, Nigeria (225th ) and Islamabad, Pakistan (224th ) are the top 3 least expensive cities in the world.
iii.The report surveyed around 226 cities worldwide to provide information on global mobility.
iv.It covered over 200 expense items such as: housing, transportation, food, clothing, and entertainment, among others. It used New York City as the base city and the currency was maintained in US dollars to maintain consistency.
About Mercer:
President and Chief Executive Officer (CEO)- Pat Tomlinson
Headquarters- New York, the USA
Established- 1945
>> Read Full News
CNS Dinesh K Tripathi of Indian Navy Visited Bangladesh from July 1 to 4
Admiral Dinesh Kumar Tripathi, Chief of the Naval Staff (CNS), Indian Navy (IN) made an official 4-day visit to Bangladesh from 1 to 4 July 2024, to consolidate the bilateral defence engagement and explore new areas of maritime cooperation.
- The Bangladesh Navy signed a contract with India’s Garden Reach Shipbuilding and Engineers Ltd (GRSE), for constructing a ‘Made in India’ 800 tons Ocean Going Tug, in Dhaka, Bangladesh.
About Bangladesh:
Capital- Dhaka
President– Mohammed Shahabuddin Chuppu
Currency– The Bangladeshi Taka
>> Read Full News
24th SCO-CHS: Belarus Officially Becomes 10th Member of Shanghai Cooperation Organisation
The Republic of Belarus officially became the 10th permanent member of Shanghai Cooperation Organisation (SCO), a Eurasian political, economic, international security and defence organization.
i.During the 24th SCO Council of Heads of State (SCO-CHS) Summit held in Astana, Kazakhstan on 4th July 2024, the leaders of SCO member countries signed a resolution of the SCO CHS and finalised the admission of Belarus and conferred the full member status.
ii.The Republic of Kazakhstan, the 2024 Chair of the SCO, hosted the 24th SCO-CHS Summit in Astana, capital city of Kazakhstan from 3rd to 4th July, 2024.
- Theme: “Strengthening Multilateral Dialogue- Striving for Sustainable Peace and Development”.
iii. Following the 2024 summit, China assumed the rotating presidency of the SCO for 2024-2025. Qingdao will be appointed the SCO’s tourism and cultural capital for 2024-2025.
About Shanghai Cooperation Organisation SCO:
SCO was established on 15th June, 2001 by 6 founding member: Kazakhstan, China, Kyrgyzstan, Tajikistan, Uzbekistan and Russia.
Secretary-General- Zhang Ming
Headquarters- Beijing, China
About the Republic of Belarus:
Capital- Minsk
President- Alexender Lukashenko
>> Read Full News
BANKING & FINANCE
SBI Unveils 11 New Initiatives on its 69th Foundation Day 
On the occasion of its 69th foundation day (1st July 2024), the State Bank of India (SBI) announced 11 new initiatives to enhance the banking experience for its customers and widen the bank’s accessibility. These initiatives span digital advancements, improved customer services, and specialized products for different segments.
i.SBI has launched the UPI Tap-and-Pay feature on the BHIM SBI Pay app, which uses Near Field Communication (NFC) technology for swift and effortless digital payments.
- Transactions under Rs 500 can be completed without a PIN using Unified Payments Interface (UPI) Lite.
- Transactions above Rs 500 require a UPI PIN for enhanced security.
ii.SBI has established 35 new Agri CPCs to streamline agricultural loan processing and mitigate risks.
iii.To better serve its NRI (Non-Resident Indian) clients, SBI’s Chairman Dinesh Kumar Khara inaugurated its second Global NRI Centre (GNC) in Patiala, Punjab.
About State Bank of India (SBI):
Chairman– Dinesh Kumar Khara
Headquarters– Mumbai, Maharashtra
Establishment– 1 July 1955
Tagline– Pure Banking, Nothing Else
>> Read Full News
ADB and ENGIE Group Signed Loan Agreement to Build 400 MW Solar Power Plant in Gujarat
The Asian Development Bank (ADB) has signed a long-term local currency loan agreement with France-based ENGIE Group, to construct and operate a 400 MegaWatt (MW) solar photovoltaic power plant in Surendranagar district in Gujarat, India.
- The proposed solar plant will generate an average of 805 GigaWatt-hours (GWh) solar energy per year over the next 25 years.
- This will help to avoid nearly 6.62 lakh tons of Carbon Dioxide (CO2).
Significance: The project will give boost the Government of India’s (GoI)’s target to achieve minimum 500 GigaWatts (GW) of renewable energy capacity by 2030.
Note: In 2020, ADB signed a long-term loan agreement with ENGIE group worth Rs 466 crore, to construct 200 MW of solar power plant at Raghanesda Solar Park, Gujarat.
Key Points:
i.The estimated budget for the project is Indian Rupee (INR) 14.6 billion (approximately USD 176 million) and ADB was the mandated lead arranger for the entire loan.
- ADB and Asian Infrastructure Investment Bank (AIIB) will provide financial support of INR 7.3 billion for the project.
ii.As per the arrangement, the solar panels will be constructed indigenously using locally manufactured bifacial photovoltaic power modules. This will diversify the supply chain of solar module and support India-based manufacturers.
iii.Enren Energy Private Limited (EEPL), a Special Purpose Vehicle (SPV) owned by ENGIE group has been tasked to implement the entire project.
- Gujarat Urja Vikas Nigam Limited (GUVNL), state-owned electricity Distribution Company (DISCOM) will be the sole offtaker for the project.
iv.The project will support the Government of India’s target of achieving at least 500 gigawatts of non-fossil fuel energy capacity by 2030 and also aims to reduce the emissions intensity of GDP by 45 per cent.
About ENGIE Group:
ENGIE Group is a global leader in low-carbon energy and services. At present, it is operating in 31 countries worldwide. Its portfolio comprises total 1.1 GW of operational projects in India, of which 220 MW are of wind projects and remaining in solar.
Chief Executive Officer (CEO)- Catherine MacGregor
Headquarters- La Défense, France
About Asian Development Bank(ADB):
President– Masatsugu Asakawa(Japan)
Headquarters– Mandaluyong City, Manila, the Philippines
Members Nations– 68(49 members nations are from Asia-Pacific region)
Established–1966
LIC Launches Agency Transformation Initiative ‘Jeevan Samarth’
The Life Insurance Corporation of India (LIC) launched ‘Jeevan Samarth‘, an agency transformation project, to future-proof its 14 lakhs (1.4 million) agents workforce to meet evolving customer needs.
- LIC has partnered A. T. Kearney, with global strategy consulting firm, to undertake the transformation project by reviewing the LIC’s existing agency framework.
About Jeevan Samarth:
i.The project entails revamping agency operations at Branch, Division, and Zonal levels and establishing global best practices amidst the changing insurance industry and regulatory landscapes in India.
ii.The project aims to align the agency ecosystem with the evolving needs of Indian families.
iii.It will focus on providing suitable long-term savings, protection, health insurance, Unit Linked Insurance Plan (ULIP), and pension solutions.
iv.This transformation will equip the committed LIC agents with more tools and skills individually within a more robust ecosystem, ensuring profitable growth for the Corporation.
About Life Insurance Corporation of India (LIC):
Chairperson– Siddhartha Mohanty
Managing Directors (MDs)– M. Jagannath, Tablesh Pandey, Sat Pal Bhanoo, R. Doraiswamy
Headquarters– Mumbai, Maharashtra
Established- 1956
ICICI Lombard Launches ‘Elevate’, AI-Powered Health Insurance Plan
ICICI Lombard General Insurance Company Limited launched ‘Elevate’, a first-of-its-kind revolutionary health insurance product powered by Artificial intelligence (AI).
- This aims to provide customised solutions for diverse healthcare needs.
i.Key features of the ‘Elevate’ includes,
- Infinite Sum Insured – addresses the concern of limited coverage and sum insured and ensures that policyholders gets access to infinite coverage.
- Infinite Claim Amount – offers comprehensive financial protection with an infinite claim amount for one-time claims during the policy lifetime.
ii.This also includes 15 in-built covers and multiple personalization options, encompassing covers for 20 critical illnesses, personal accidents, maternityand newborn cover, etc.,.
Indiabulls Housing Finance Renamed as Sammaan Capital
On 3rd July 2024, Mumbai (Maharashtra) based Indiabulls Housing Finance Limited has been renamed as “Sammaan Capital Limited” following the receipt for Certificate of Incorporation issued by the Registrar of Companies (RoC), and Certificate of Registration (CoR) as an Non-Banking Financial Company (NBFC)- Investment and Credit Company(ICC) from the Reserve Bank of India(RBI).
- The name change follows the company’s transformation from being a promoter-led and promoter-driven lender into a board-run and diversely-held financial institution.
Note: 2024 marks the 25 years of operation of the company which was established in 2000.
AWARDS & RECOGNITIONS
Union Minister Arjun Ram Meghwal Awarded PPM & IPM To 39 CBI Officers 
Arjun Ram Meghwal, the Union Minister of State (Independent Charge-IC), Ministry of Law & Justice (MoL&J) and Minister of State (MoS) for Parliamentary Affairs awarded the ‘President’s Police Medal’ (PPM) for Distinguished Service and the ‘Indian Police Medal’ (IPM) for Meritorious Service to 39 Central Bureau of Investigation (CBI) officers and officials.
- The Investiture Ceremony was organised by the CBI at CBI Academy, Ghaziabad, Uttar Pradesh (UP).
- Dr. Rajiv Mani, Secretary, Department of Legal Affairs, MoL&J also attended the event along with senior officials of MoL&J, CBI and other Departments/ Local Administration.
Key Points:
i.Arjun Ram Meghwal highlighted the new criminal laws Bharatiya Nyaya Sanhita (BNS), Bharatiya Nagarik Suraksha Sanhita (BNSS), and Bharatiya Sakshya Adhiniyam (BSA) with effect from 1st July 2024 brings in ‘ease of living’ in a large way for citizens.
ii.These laws would speed up the delivery of justice while also saving all stakeholders valuable time spent on trials.
Note:
i.President’s Police Medal (PPM) is awarded for a special distinguished record in Police Service which was originally called the President’s Police and Fire Service Medal.
ii.Indian Police Medal is awarded for the meritorious service
President’s Police Medal (PPM) Winners:
i.Viplav Kumar Choudhary, Indian Police Service (IPS), Joint Director, SCZ, CBI, New Delhi, Delhi (now Joint Director, Delhi Zone, CBI)
ii.Sharad Agarwal, IPS, Joint Director, Special Task Zone (STZ), CBI, New Delhi (now Special Commissioner, Delhi Police)
iii.Virender Mohan Mittal, Superintendent of Police (SP), Anti-Corruption Bureau (ACB), CBI, New Delhi
iv.Satya Narayan Jat Additional SP, ACB, CBI, Jaipur, Rajasthan (now Heads of Branch-HoB, ACB, Raipur, Chhattisgarh)
v.Maharshi Ray Hajong, Assistant Superintendent of Police (ASP), CBI, BSFB, Kolkata, West Bengal (WB).
vi.Thanglian Mang M, Addl. SP, SC-I, CBI, New Delhi (now ASP, CBI, ACB, Agartala, Tripura)
vii.Nilambur Narayanan Srikrishnan, Deputy superintendent of police (DSP), CBI, SU, Chennai, Tamil Nadu, TN.
viii.Rajeshwar Singh Rana, SI, CBI, International Police Cooperation Unit (IPCU), New Delhi; (now Inspector, CBI, Jabalpur, Madhya Pradesh, MP)
ix.Geeta Paul, Sub Inspector (SI), CBI, Economic Offences Branch (EOB), Kolkata (now Inspector, EOB, Kolkata)
x.Goutam Chandra Das Head Constable, ACB, CBI, Bhubaneswar, Odisha (now retired)
Click here to view the full list of CBI Officials who got Indian Police Medal (IPM) for Meritorious Services.
About Central Bureau of Investigation (CBI):
CBI is a premier anti corruption investigative agency in India, operates under the jurisdiction of the Ministry of Personnel, Public Grievances and Pensions (MoPPG&P).
Director – Praveen Sood
Headquarters – New Delhi, Delhi
Established – 1st April 1963
APPOINTMENTS & RESIGNATIONS
Hemant Soren Takes Oath as 13th CM of Jharkhand
On 4 July 2024, Hemant Soren, the Executive President of the Jharkhand Mukti Morcha (JMM) party was sworn in as the 13th Chief Minister (CM) of Jharkhand for the 3rd time.
- The Governor, CP Radhakrishnan, administered the oath of office and secrecy to Soren at a ceremony organised at Raj Bhavan in Ranchi, Jharkhand.
- Champai Soren resigned as CM of Jharkhand on 3 July 2024, and he was served as Jharkhand’s 12th CM for 5 months since February 2024.
About Hemant Soren:
i.Hemant Soren is the son of Shibu Soren, the former CM of Jharkhand, and the President of the JMM party. He has been a member of the Jharkhand Assembly since 2005.
ii.He was 1st elected to the Jharkhand Assembly in 2005 from the Barhait constituency and became a Member of the Legislative Assembly (MLA) in 2009.
iii.He served as a member of the Rajya Sabha from 2009 to 2010. From 2010 to 2013, he served as the deputy CM of Jharkhand in the Arjun Munda government.
iv.In 2013, he took charge as Jharkhand’s youngest CM for the 1st term, and in 2014, he was appointed as the Leader of the Opposition in the Jharkhand Assembly.
v.In 2019, he took office as Jharkhand’s CM for the 2nd term. In January 2024, he resigned as CM before his arrest by the Enforcement Directorate (ED).
About Jharkhand:
Capital– Ranchi
Wildlife Sanctuaries– Palamu Wildlife Sanctuary, and Palkot Wildlife Sanctuary
Zoological Parks– Tata Steel Zoological Park, Bhagwan Birsa Biological Park, and Jawaharlal Nehru Biological Park
ACC Appointed Dr. B.N. Gangadhar as Chairperson of NMC & Other Individuals for NMC’s Autonomous Boards
The Appointment Committee of the Cabinet (ACC) appointed Dr. B.N. Gangadhar,as the Chairman of the National Medical Commission (NMC). He has been the officiating interim Chairman of the NMC since September 2023. Prior to this appointment, he was served as the President of the Medical Assessment and Rating Board (MARB).
i.Dr Sanjay Behari, Director of Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), Thiruvananthapuram (Kerala), was appointed as the new President of the MARB.
ii.Other Appointments are
- Dr. Anil D’Cruz, Director (Oncology) of Apollo Hospital, Mumbai (Maharashtra) was appointed as a whole-time member of the Post-Graduate Medical Education Board (PMEB).
- Dr. Rajendra Achyut Badwe, Professor Emeritus at Tata Memorial Centre (TMC), Mumbai was appointed as a part-time member of the Under-Graduate Medical Education Board (UGMEB) for 2 years, until he attains the age of 70 years, or until further orders.
SPORTS
U-17/U-23 Asian Wrestling Championship 2024: Indian wrestlers won a total of 22 medals in U-17 & 22 Medals in U-23
The Under-17 (U-17)/ Under -23 (U-23) Asian Wrestling Championships 2024 was held from 22nd to 30th June 2024 in Amman, Jordan.
The Indian Wrestlers secured 22 medals (8 gold, 5 silver, and 9 bronze) in the Under-17 (U-17) Asian Wrestling Championships 2024 and 23 medals (9 Gold, 10 Silver and 4 Bronze) in the Under -23 (U-23) Asian Wrestling Championships 2024 in Amman, Jordan.
- The championship was organised by the United World Wrestling (UWW), the international governing body for the sport of amateur wrestling, both for Greco-Roman wrestling and freestyle wrestling.
STATE NEWS
Finance Minister Jagdish Devda presents budget of Rs 3.65 lakh cr for FY25
On July 3, 2024, Jagdish Devda, Deputy Chief Minister (CM) and Finance Minister of Madhya Pradesh(MP), presented a budget of Rs 3.65 lakh crore (Rs 3,65,067 crores) for FY 2024-25 (FY25). This budget is 16% higher than FY24’s Rs 3.14 lakh crore.
i.The theme of the budget was ‘Viksit Madhya Pradesh, Viksit Bharat’,
ii.The state’s own tax revenues are estimated at Rs 1,02,097 crore.
iii.The share in central taxes is projected at Rs 95,753 crore.
About Madhya Pradesh (MP):
Chief Minister– Mohan Yadav
Governor– Mangubhai C. Patel
National Parks– Madhav National Park, Satpura National Park, Kuno National Park
Wildlife Sanctuary– Kheoni Wildlife Sanctuary; Kuno Palpur wildlife sanctuary
>> Read Full News
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