DAILY CURRENT AFFAIRS 28-09-2024

Shankar School of Banking September 28 , 2024 84

NATIONAL NEWS

MoPSW Announced Establishment of Ship-Building And Repair Clusters

The Ministry of Ports, Shipping and Waterways (MoPSW) announced the establishment of ship-building and repair clusters in five states: Gujarat, Andhra Pradesh, Maharashtra, Kerala, and Odisha.

These clusters aim to enhance the strategic importance of India's shipbuilding and ship repair industry.

Over the next five years, container handling capacity across Indian ports is expected to reach 40 million TEUs (Twenty-foot Equivalent Units).

This expansion is projected to create 2 million job opportunities.

Jawaharlal Nehru Port Authority (JNPA) will increase its capacity from 6 million TEUs to 10 million TEUs, becoming the first Indian port to reach this milestone.

The ministry has allotted 3,900 acres of land in Deendayal Port Authority (DPA) and O. Chidambaranar Port Trust (VoCPA) for the development of hydrogen manufacturing hubs.

This initiative is expected to attract investments worth over ₹5 lakh crore.

Ministry of Textiles introduces Quality Control Order for Medical Textiles

The Ministry of Textiles has announced the Medical Textiles (Quality Control) Order, 2023, which will come into effect on October 1, 2024.

This landmark initiative aims to establish stringent quality standards for critical medical textile products.

The Quality Control Order (QCO) applies to essential medical textile products including Sanitary Napkins, Baby Diapers, Reusable Sanitary Pads and Dental Bibs.

Mandatory Certifications: To ensure that these products consistently meet essential quality benchmarks.

Legal Requirement: Compliance with the standards will be legally required, with penalties for non-compliance.

Exemptions: Small-scale enterprises and Self-Help Groups (SHGs) are exempt from the QCO requirements to address potential challenges.

Uttar Pradesh International Trade Show-2024

Uttar Pradesh (U.P.) has the largest base of Micro, Small, and Medium Enterprises (MSMEs) in India, with 96 lakh MSME units spread across 75 districts.

MSMEs are the second-largest job creators in the U.P. after agriculture, playing a major role in the state's industrial transformation.

U.P.’s One District One Product (ODOP) scheme promotes unique products from each of the 75 districts, boosting local industries.

4 international airports are functional, with Noida International Airport (Jewar) expected to be completed by the end of the year.

The Ganga Expressway, the longest in the country, is expected to be completed before the Prayagraj Mahakumbh in 2025.

Government-to-Government (G2G) and Government-to-Business (G2B) initiatives are being showcased to emphasize U.P.'s growth and industrial capabilities.

Airtel Launches India’s First AI-Powered Spam Detection Solution

In a groundbreaking initiative to tackle the growing issue of spam calls and messages in India, Bharti Airtel has launched the country’s first network-based, AI-powered spam detection solution.

This pioneering tool aims to reduce spam communication for its customers significantly.

The solution notifies customers in real-time about suspected spam calls and SMS, enhancing protection against unwanted communications.

The spam detection service is free of charge and will be automatically activated for all Airtel customers, eliminating the need for service requests or app downloads.

By cross-referencing communication behaviors against known spam patterns, the system effectively flags suspected spam calls and messages.

 The system can also identify unusual activities, such as frequent changes in IMEI numbers, which are common indicators of fraudulent behavior.

       

SCIENCE & TECHNOLOGY

Bengaluru Startup Bellatrix Aerospace Launches Project 200

Bengaluru-based space startup Bellatrix Aerospace unveiled Project 200, an innovative satellite designed to operate at an Ultra-Low Earth Orbit (180 km-250 km) on the inaugural day of the Bengaluru Space Expo 2024.

“Project 200 is a technology demonstration mission to qualify a new unconventional satellite powered by an innovative propulsion system at around 200 km.

Traditionally, satellites have been deployed in orbits at altitudes well above 450 km.

This altitude choice has been influenced by various considerations, such as the desire to minimise the impact of atmospheric interference on satellite operations.

Though it is known that a satellite’s capabilities improve significantly at 200 km, limitations on propulsion technology have prevented satellites from operating at this orbit.

According to Bellatrix, at 200 km, a satellite’s capability would improve significantly since the communication latency is reduced by half and image resolution is improved by three times.

The cost of the satellite is also less when compared to spacecraft placed in 450 km orbits.

 

BANKING

NPCI Plans to Expand UPI Digital Payments to Africa and South America

India is in discussions with several countries in Africa and South America to help them build digital payment systems using the Unified Payments Interface (UPI) as a model.

Two UPI-like systems are expected to launch by late 2026 or early 2027.

The National Payments Corporation of India (NPCI) oversees retail payment systems in India and operates UPI, the most popular digital payment method in the country.

UPI's monthly transaction volume surged by 41% to nearly 15 billion in August, 2024.

NPCI’s international arm, NIPL, promotes the adoption of India's payment systems overseas.

NIPL has held discussions with at least 20 countries in Africa and South America for developing UPI-like payment systems.

Agreements with Peru and Namibia have been signed to help them develop real-time payment systems, with expected launches by 2026-2027.

NIPL plans to double its current 60-member team by March 2025, expanding its overseas operations beyond Singapore and the Middle East.    

 

RANKS, INDICES & REPORTS

2024 Global Innovation Index

The World Intellectual Property Organisation released the 17th edition of the Global Innovation Index on 26 September 2024, ranking the countries on their innovation qualities.

The Global Innovation Index has been published by the World Intellectual Property Organisation (WIPO) every year since 2007.

In the 17th edition, 133 countries and the world’s top 100 science and technology clusters were ranked based on innovation performance.

The countries are evaluated using around 80 indicators grouped into four parameters: science and innovation investment, technological progress, technology adoption and the socioeconomic impact of innovation.

India has been ranked 39th in the 2024 Global Innovation Index.

Switzerland maintained its position as the top-ranked country, while Angola, an African country, was at the bottom.

India is the top-ranked country amongst the 38 lower-middle-income group economies.

Amongst the 10 economies of Central and Southern Asia, India has been ranked 1st.

 

DEFENCE

Indian Navy Set to Host the 5th edition of Goa Maritime Symposium

The 5th edition of Goa Maritime Symposium (GMS) 2024 was hosted by the Indian Navy from 23-24 September 24 under the aegis of Naval War College, Goa.

This edition of the Goa Maritime Symposium was conducted in the newly inaugurated, state-of-the-art Chola building of the Naval War College.

Goa Maritime Symposium 2024 is a forum for fostering collaborative thinking, cooperation, and mutual understanding between India and key maritime nations of the Indian Ocean Region.

The theme for GMS 2024 was "Common Maritime Security Challenges in the Indian Ocean Region (IOR) – Progressing Lines of Effort to Mitigate Dynamic Threats such as IUU Fishing and Other Illegal Maritime Activities."

The theme aligns with the Indian Government’s vision of Security and Growth for All in the Region (SAGAR).

It is focused on non-traditional maritime threats in the IOR, such as Illegal, Unreported, and Unregulated (IUU) fishing and other maritime crimes.

 

IMPORTANT DAYS

World Tourism Day

27th of September has been observed as World Tourism Day worldwide.

The day underscores the role of tourism in a country's economic development and the role it plays in promoting people-to-people contact across cultures.

The Union Ministry of Tourism will celebrate the 2024 World Tourism in New Delhi on 27 September 2024. Vice-President Jagdeep Dhankar was the chief guest at the function.

The United Nations World Tourism Organisation was established in 1975 and changed its name to UN Tourism in January 2024.

Every year, UN Tourism chooses a theme for World Tourism Day. This year's theme is "Tourism and Peace."

The theme highlights tourism's contribution to promoting peace in the world by promoting understanding between people of different cultures. It helps break down stereotypes and prejudices about other people.

Tourism can help bring together different nations and cultures and support reconciliation processes among nations.

The first World Tourism Day was observed on 27 September 1980.

                                                                                             

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