DAILY CURRENT AFFAIRS 09-07-2024

Shankar School of Banking July 9 , 2024 104

NATIONAL NEWS

Union Ministry of Culture has Initiated Project PARI

On the occasion of the forthcoming 46th Session of the World Heritage Committee Meeting, the Union Ministry of Culture has initiated Project PARI (Public Art of India) to beautify New Delhi.

New Delhi will host the 46th session of the World Heritage Committee from 21 -31 July 2024.

The Union Ministry of Culture has launched Project PARI (Public Art of India), which is being executed by the Lalit Kala Akademi in collaboration with the National Gallery of Modern Art.

The project aims to enhance Delhi's aesthetic and cultural outlook by depicting the country's rich historical and cultural heritage in art forms.

The project, PARI, will bring together more than 150 men and women folk and modern artists from the country to beautify various places in New Delhi, such as Bharat Mandapam, railway and road underpasses, etc.

The artist will depict traditional art forms, as well as sculptures, murals, and installations, on the identified roads and buildings of the capital.

Global Conclave on Plastic Recycling and Sustainability

The Global Conclave on Plastic Recycling and Sustainability was organised by the All India Plastics Manufacturers Association (AIPMA) in association with the Chemicals and Petrochemicals Manufacturers' Association (CPMA).

The conclave provided a platform for the stakeholders, including industry leaders, innovators, policymakers, and environmental experts in the plastic industry, to learn about the latest trends and innovations in the recycling of plastic recycling and sustainable practices.

The government of India has set a target to achieve a Zero Waste goal by 2070 to strengthen environmental sustainability in the country.

With the increasing consumption of plastic and the consequent generation of plastic waste, the emphasis is on the management of plastic waste to achieve the zero waste policy goals.

The main focus of the Global Conclave on Plastic Recycling and Sustainability was on the rising use of plastic, its impact on the environment, and the steps needed to implement solutions.

The conclave also aimed to address the critical issues surrounding plastic use, its impact on the environment, and the innovative solutions that can lead to a more sustainable future.

SEHER Credit Education Program Launched to Empower Women Entrepreneurs

SEHER, a credit education program launched by the Women Entrepreneurship Platform (WEP) and TransUnion CIBIL, aims to empower women entrepreneurs in India with essential financial literacy content and business skills.

This initiative will facilitate their access to financial tools, driving growth and employment in the country.

It was organized by Women Entrepreneurship Platform (WEP) and TransUnion CIBIL.

WEP is a public-private partnership platform incubated at NITI Aayog.

SEHER is part of WEP’s Financing Women Collaborative (FWC), designed to accelerate access to finance for women entrepreneurs.

 

SCIENCE & TECHNOLOGY

ISRO Selects 2 Gaganyaan Astronauts for ISS Mission Under Axiom-4

As a part of the Axiom-4 mission, the Indian Space Research Organisation (ISRO) has shortlisted two of its four trained Gaganyaan astronauts to travel to the International Space Station (ISS).

Axiom Mission 4 (or Ax-4) is a private spaceflight to the ISS.

It is operated by Axiom Space and uses a SpaceX Crew Dragon spacecraft.

The flight is in collaboration with NASA and will be the 4th flight of Axiom Space after Axiom Mission 1, Axiom Mission 2 and Axiom Mission 3.

Scheduled to launch in 2024, Axiom-4 will continue the company's pioneering efforts to establish a sustainable human presence in Low Earth Orbit (LEO).

Axiom-4 is expected to be a short-duration mission, lasting approximately 14 days.

Axiom Space's long-term vision includes building the world's first commercial space station.

The Axiom-4 mission is part of the company's broader plan to eventually transition from the ISS to their own independent orbital outpost.

 

BANKING

Reserve Bank of India Imposes Rs 10,000 Fine on YES Bank

The Reserve Bank of India (RBI) imposed a penalty of ₹10,000 on YES Bank for not exchanging mutilated notes.

The penalty was imposed under the "Scheme of Penalties for bank branches including Currency Chests" based on the bank's performance in customer service, specifically regarding the exchange of mutilated notes.

According to the RBI's Master Circular, any violation of the agreement with RBI or deficiency in service, such as refusal to exchange soiled or mutilated notes, can attract penalties.

For instance, refusal by a currency chest branch to adjudicate mutilated notes tendered by the public can result in a penalty of ₹10,000 per instance.

If there are multiple instances (more than five) of violations or deficiencies, the penalty can escalate significantly to ₹5 lakh.

The RBI mandates that such penalties are promptly disclosed to the public domain and are levied immediately upon detection.

The penalties underscore the importance of banks adhering to RBI guidelines and maintaining high standards in customer service, especially in handling currency-related transactions.

DBS Bank India Introduces Pre-Shipment Financing Solution

DBS Bank India has partnered with Receivables Exchange of India Limited (RXIL), a Trade Receivables Discounting System (TReDS) platform, to offer a pre-shipment financing solution.

TReDS is an electronic platform for facilitating the financing/discounting of trade receivables of micro, small and medium enterprises (MSMEs) through multiple financiers.

The first transaction on TReDS in India occurred on January 9, 2017, through RXIL.

DBS Bank India will be the first bank to partner with RXIL to offer end-to-end supplier financing using platform data for credit assessment and sanctioning limits.

It helps MSMEs to streamline cash flows by securing funding in advance.

 

RANKS, INDICES & REPORTS

Mercer's Cost of Living City Rankings

Mercer's Cost of Living City rankings for 2024 reveal that Hong Kong, Singapore, and Zurich remain the world's most expensive cities for expatriates.

Cities like Islamabad, Lagos, and Abuja are among the cheapest.

Mumbai secured 136th place and ranked highest among Indian city.

Other Indian cities include Chennai (189), Bengaluru (195), Hyderabad (202), Pune (205), and Kolkata (207).

Mercer assessed 226 cities globally, analyzing the cost of over 200 items, including housing, transport, food, and entertainment.

 

AWARDS & PRIZES

Best Agriculture State Award for 2024

The 15th Agriculture Leadership Awards Committee has announced that Maharastra has won the Best Agriculture State Award for 2024.

It was announced by the 15th Agriculture Leadership Awards Committee, headed by Justice P Sathasivam, former Chief Justice of India and Governor of Kerala.

The Maharashtra chief minister, Eknath Shinde, will receive the award on 10 July 2024 at a function in New Delhi.

Maharashtra has been chosen for this award for its innovative agricultural and rural initiatives.

The award recognises the Maharashtra government's innovative policies and high-impact developmental initiatives, which have led to the advancement of agricultural and rural prosperity in the state.

The award acknowledged Maharashtra's sustainable development policies focusing on environmental protection and food security.

The Maharashtra government has launched the country’s largest bamboo mission covering 21 lakh hectares.

In the recent budget, the Maharashtra government announced plans to establish a green belt spanning 1.20 lakh acres in the Nandurbar district in collaboration with the Central and state governments.

The annual Agricultural Leadership Award was instituted by Agricultural Today magazine in 2008.

 

APPOINTMENTS & RESIGNATIONS

Government's New Principal Spokesperson

Dhirendra K Ojha, a senior Indian Information Service (IIS) officer of the 1990 batch, has been appointed as the principal spokesperson of the central government.

He will also assume the role of Principal Director General (DG) of the Press Information Bureau (PIB).

Ojha succeeds Sheyphali B Sharan, also a 1990-batch IIS officer, who was appointed as the Director General of the Publications Division.

Sheyphali B Sharan held the position of Principal DG, PIB from April 1, 2024, until Ojha's appointment.

With Ojha's new role as Principal Spokesperson and Principal DG, PIB, the position of Director General at the CBC will now be taken over by Y K Baweja, who is currently the PIB Director General.

Before this appointment, Dhirendra K Ojha served as the Director General of the Central Bureau of Communications (CBC).

 

SPORTS

Asian Squash Doubles Championship 2024

Indian Squash players won two titles at the Asian Squash Doubles Championship 2024 held at the Arena Emas in Johor, Malaysia.

The Indian team won the men’s doubles and mixed doubles titles.

In the mixed doubles finals, the Indian pair of Abhay Singh and four-time World Doubles Championships medallist Joshna Chinappa defeated Hong Kong China’s Tong Tsz Wing and Ming Hong Tang 2-1 (11-8, 10-11, 11-5) in the final played on 7 July 2024 at the Arena Emas in Johor, Malaysia.

Abhay Singh, part of the gold medal-winning team at the 19th Hangzhou Asian Games, partnered with Velavan Senthilkumar to win the men’s doubles title.

The Indian pair defeated Ong Sai Hung and Syafiq Kamal of Malaysia in straight sets in the final.

Asian Billiards Title at Riyadh

Dhruv Sitwala defeated Pankaj Advani to win the 2024 Asian Billiards Championship in Riyadh, Saudi Arabia.

The Asian Championship was organised by the Asian Confederation of Billiard Sports (ACBS) in Riyadh, Saudi Arabia, from 27th June to 5th July 2024.

The Asian Championship included the Men’s Snooker Team Championship, Men’s Billiards Championship and Women’s Asian Snooker Championship events.

The Bronze medal was won by another Indian cueist, Dhvaj Haria, who lost the semi-final match against the eventual champion, Dhruv Sitwala.

Another Indian, Anupama Ramachandran, won her first international title by defeating Panchaya Channoi of Thailand 3-1 in the final of the Asian Women Snooker category.

Indian cueist Pankaj Advani has also been inducted into the Hall of Fame at the World Billiards Museum in Shangrao City in China.

The 38-year-old Pankaj Advani also holds the distinction of being the only player in the world to win world titles in all the formats of Billiards and Snooker.

BPCL has partnered with the Indian Olympic Association

Bharat Petroleum Corporation Limited (BPCL), a Maharatna and Fortune Global 500 company, has proudly announced its role as the official Principal Partner of the Indian Olympic Association (IOA) for four years, from the Paris Olympics in 2024 to the Los Angeles Olympics in 2028.

BPCL becomes the Principal Partner of the IOA for the Paris 2024 and Los Angeles 2028 Olympics.

The partnership aims to honor and support Indian athletes, particularly those from underprivileged backgrounds, underscoring BPCL’s commitment to nurturing sporting talent and fostering national unity.

The partnership aims to honor and support Indian athletes, particularly those from underprivileged backgrounds, underscoring BPCL’s commitment to nurturing sporting talent and fostering national unity.

 

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