Current Affairs 16 July 2024

Highlights of PM Narendra Modi’s Visit to Mumbai, Maharashtra

On July 13, 2024, Prime Minister Narendra Modi visited Mumbai, Maharashtra, where he laid the foundation stone and dedicated several projects related to roads, railways, and ports worth over Rs 29,400 crores. The event took place at the NESCO Exhibition Centre in Goregaon, Maharashtra.

1. PM Modi laid the foundation stones for two major infrastructure projects: the Rs 16,600 crore Thane-Borivali Twin Tunnel Project and the Rs 6,300 crore Goregaon-Mulund Link Road (GMLR) Project.
2. He also laid the foundation for the Kalyan Yard Remodelling and Gati Shakti Multi-Modal Cargo Terminal in Turbhe, Navi Mumbai.
3. The PM launched the ‘Mukhyamantri Yuva Karya Prashikshan Yojana: Internship Scheme for Unemployed Youth’ with an outlay of Rs 5,600 crore.
4. PM Modi inaugurated the Indian Newspaper Society (INS) Towers at the INS Secretariat in Bandra Kurla Complex (BKC), Mumbai.

About Maharashtra:

• Governor: Ramesh Bais
• Chief Minister: Eknath Shinde
• Wildlife Sanctuaries: Nagzira Wildlife Sanctuary, Chikhaldara Wildlife Sanctuary

MoHA Declares June 25 as ‘Samvidhaan Hatya Diwas’ to Commemorate 1975 Emergency in India

The Ministry of Home Affairs (MoHA), Government of India, has declared June 25 as ‘Samvidhaan Hatya Diwas’ (Constitution Murder Day) to honor those who opposed the abuse of power during the Emergency imposed by then Prime Minister Indira Gandhi in 1975. Starting from 2025, this day will be observed annually to commemorate the Emergency that suspended the Constitution of India in 1975. The 50th anniversary of the Emergency will be marked on June 25, 2025.

Significance of ‘Samvidhaan Hatya Diwas’:

1. The Government of India aims to pay homage to the power of the Indian Constitution and democracy.
2. The Emergency led to gross abuses of power and atrocities against the Indian people.

1975 Emergency in India:

1. On June 25, 1975, the then President of India, Fakhruddin Ali Ahmed, declared a state of emergency on the advice of PM Indira Gandhi.
2. The Emergency lasted for 21 months and was issued under Article 352 of the Indian Constitution to control “internal disturbance.”
3. It involved the suspension of constitutional rights, freedom of speech, and the press.
4. Thousands of opposition leaders, activists, and journalists were arrested without due process.
5. The Emergency ended in March 1977 with general elections, resulting in a significant defeat for Indira Gandhi’s Congress party.

NITI Aayog’s SDG India Index 2023-24: Kerala Retains Top Rank; Bihar Worst Performer

On July 12, 2024, NITI Aayog released the 4th edition of the Sustainable Development Goals (SDG) India Index for 2023-24 in New Delhi. Kerala retained its top ranking among states for the 4th consecutive time, sharing the top spot with Uttarakhand with a composite score of 79 points.

Key Points:

1. Bihar, with a score of 57 points, was the worst-performing state, followed by Jharkhand (62) and Nagaland (63).
2. Among Union Territories (UTs), Chandigarh topped the index, followed by Jammu & Kashmir, Puducherry, Andaman Nicobar Islands, and Delhi.
3. India’s overall SDG score improved from 66 points (in 2020-21) to 71 points (in 2023-24) due to significant progress in poverty reduction, economic growth, and climate action.

About NITI Aayog:

• Chairperson: Prime Minister Narendra Modi
• Vice-Chairperson: Suman Bery
• CEO: B.V.R. Subrahmanyam
• Headquarters: New Delhi
• Established: 2015

Union Minister Nitin Gadkari Dedicates 6-Lane Controlled Access Road Project in Goa to India

On July 11, 2024, Union Minister for Road Transport and Highways, Nitin Gadkari, dedicated a 6-lane access-controlled 7 km road project with elevated viaducts from Manohar International Airport (Mopa International Airport) to Dhargal on NH-166S in Goa. The ceremony was presided over by Goa’s Chief Minister Pramod Sawant.

Key Points:

1. The 7 km project, costing Rs 1183 crore, is expected to enhance connectivity to Manohar International Airport, facilitating quicker and more convenient travel.
2. The development aims to strengthen multi-modal connections, improve tourism, and lower logistics costs.
3. It also aims to ensure smoother and safer traffic movement, saving fuel usage and travel time.
4. The project is expected to boost overall socio-economic growth, benefiting the local economy and citizens’ quality of life.

Additional Info:

1. Nitin Gadkari announced the construction of a 45-km-long bypass from Wadgaon to the Karnataka border, costing Rs 3500 crore in Goa.
2. He also mentioned the 4-laning of the Panaji-Belgaum section of NH-748, covering 52 km and costing Rs 4000 crore.

About Goa:

• Chief Minister: Pramod Sawant
• Governor: P. S. Sreedharan Pillai
• Capital: Panaji (Panjim)
• Wildlife Sanctuary: Netravali Wildlife Sanctuary
• Bird Sanctuary: Dr. Salim Ali Bird Sanctuary

Union Minister Jayant Chaudhary Launches SIDH Portal Under MSDE

Union Minister of State (Independent Charge) for the Ministry of Skill Development and Entrepreneurship (MSDE), Jayant Chaudhary, launched the Skill India Digital Hub (SIDH) Portal to ensure beneficiaries receive complete information about all schemes.

About SIDH:

1. SIDH is part of the Digital Public Infrastructure (DPI), the Government of India’s flagship initiative for using digital technologies for skill development.
2. It was created to ensure transparency and provide beneficiaries with comprehensive information on available schemes.
3. The portal offers industry-relevant education, career prospects, and entrepreneurial support.

Note: In September 2023, then Union Minister for Skill Development and Entrepreneurship Dharmendra Pradhan launched Skill India Digital (SID), a comprehensive digital platform to transform India’s skills, education, employment, and entrepreneurship landscape.

About the Ministry of Skill Development and Entrepreneurship (MSDE):

• Minister of State (MoS): Jayant Chaudhary (Rajya Sabha – Uttar Pradesh, UP) (Independent Charge, IC)

GoI Caps Interest Equalisation at Rs 1.66 Cr per IEC for July-August 2024

The Ministry of Commerce and Industry (MoCI), Government of India, has capped interest equalisation at Rs 1.66 crore per Importer-Exporter Code (IEC) for the period from July 1 to August 31, 2024.

Key Points:

1. In June 2024, the government extended the Interest Equalisation Scheme (IES) on pre- and post-shipment rupee export credit for two months to boost outbound shipments. This scheme, which offers interest benefits to exporters, ended on June 30, 2024.
2. The Directorate General of Foreign Trade (DGFT) specified that the scheme extension, effective from June 28, 2024, applies only to Micro, Small, and Medium Enterprises (MSME) manufacturer exporters eligible for a 3% IES benefit.

About Importer-Exporter Code (IEC):

1. IEC is a unique 10-digit alphanumeric code issued based on the PAN (Permanent Account Number) of an entity. It is issued to an exporter or importer by the regional office of the Director General of Foreign Trade (DGFT), Department of Commerce.
2. The IEC is a mandatory business identification number for any export or import activities in India.
3. No export or import shall be made by any person without obtaining an IEC unless specifically exempted.

Uttarakhand Govt’s eSwasthya Dham Portal Integrated with ABDM for Enhanced Pilgrim Health Monitoring

The eSwasthya Dham portal, launched by the Department of Health and Family Welfare, Government of Uttarakhand, is now integrated with the Ayushman Bharat Digital Mission (ABDM) to create an integrated digital health infrastructure across India. The portal helps monitor the health parameters of Char Dham Yatra pilgrims visiting Yamunotri, Gangotri, Kedarnath, and Badrinath.

Key Points:

1. Pilgrims can create their Ayushman Bharat Health Account (ABHA), a 14-digit number, in 1-2 minutes using the portal.
2. ABHA creation, as part of the ABDM, establishes a digital health identity for devotees, allowing for better management of health records and quicker emergency interventions.
3. Additionally, a helpline number 104 has been established to assist pilgrims.

Indian Air Force (IAF) Contingent Joined Exercise Pitch Black 2024 in Darwin, Australia

On July 11, 2024, an Indian Air Force (IAF) contingent arrived at the Royal Australian Air Force (RAAF) Base Darwin, Australia, to participate in Exercise Pitch Black 2024, a multi-national Air Force exercise running from July 12 to August 2, 2024. This edition will be the largest in the 43-year history of Exercise Pitch Black, with participation from 20 countries, more than 140 aircraft, and 4,400 military personnel.

Background:

1. Exercise Pitch Black is a biennial multi-national exercise hosted by the RAAF. The name ‘Pitch Black’ originated from the emphasis on night-time flying over large unpopulated areas.
2. It started as a unilateral 3-day air defense exercise in June 1981 at RAAF Base Williamtown in New South Wales, Australia.
3. It was first held as a bilateral exercise between Australia and the USA in May 1983 in Darwin, Australia. It has since evolved into a comprehensive biennial event with multiple nations participating.

About Exercise Pitch Black 2024:

1. Focus: This edition will mainly focus on Large Force Employment (LFE) warfare aimed at bolstering international cooperation and providing experience enhancement with the IAF Su-30 MKI operating alongside the F-35, F-22, F-18, F-15, Gripen, and Typhoon fighter aircraft.
2. IAF Contingent: It includes over 150 highly skilled Air Warriors, including pilots, engineers, technicians, controllers, and other subject matter experts, operating the Su-30 MKI multirole fighters, with the C-17 Globemaster and the IL-78 (air-to-air) refueling aircraft in combat enabling roles. Bhawana Kanth, the first female pilot of the IAF to fly Su-30MKI fighter planes, is also participating in the exercise.
3. Key Participating Countries: Australia, India, France, Germany, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand, and the United States of America (USA), Thailand, and the United Kingdom (UK) are regular participants. Other countries such as Brunei, Canada, Fiji, and New Zealand will have personnel embedded in the exercise. Countries like Papua New Guinea, Italy, Spain, and the Philippines will be participating for the first time. An aircraft carrier, ITS Cavour from Italy, will also be participating for the first time.

About Australia:

• Capital: Canberra
• Prime Minister: Anthony Albanese
• Currency: Australian Dollar (AUD)

About Indian Air Force (IAF):

• Chief of Air Staff (CAS): Vivek Ram Chaudhari
• Headquarters: New Delhi
• Established: October 8, 1932

Jio Financials Gets RBI Nod to Become Core Investment Company

The Reserve Bank of India (RBI) has approved the conversion of Jio Financial Services Limited (JFSL) from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC). According to RBI regulations, a CIC is a specialized type of NBFC with an asset size greater than Rs 100 crore.

JFSL’s Eligibility Criteria as CIC:

1. CICs are non-deposit-taking financial companies. As a CIC, Jio Financial will focus on investments in and management of its subsidiary companies. CICs are specialized financial entities governed by the RBI Act of 1934.
2. JFSL must hold at least 90% of its net assets in equity shares, preference shares, bonds, debentures, debt, or loans in its group companies.
3. The CIC structure would enable JFSL to delineate the financials and operations of each subsidiary, providing better value discovery for investors.

Benefits of CIC Status:

1. As a CIC, JFSL gains greater operational flexibility and can focus on core investment activities without engaging in other financial services.
2. This structure allows JFSL to explore various sectors, diversify its investment portfolio, and adapt to market conditions.

About Jio Financial Services Ltd (JFSL):

• JFSL was originally incorporated as Reliance Strategic Investments Private Limited on July 22, 1999, under the Companies Act 1956. The name was first changed to Reliance Strategic Investments Limited in 2002 and further changed to Jio Financial Services Limited in 2023.
• Managing Director (MD) and CEO: Hitesh Kumar Sethia
• Headquarters: Mumbai, Maharashtra

Bajaj Finserv Launches Savings+ Product for Retail Investors

Bajaj Finserv Asset Management Limited has launched Bajaj Finserv Savings+, a new financial product for retail investors seeking returns on their idle savings.

Key Points:

1. Aim: To bridge the gap between standard savings accounts and more profitable investing options.
2. It enables investors to invest in Bajaj Finserv Liquid Fund and Bajaj Finserv Overnight Fund, which provide competitive returns and liquidity. The minimum investment amount is Rs 100.
3. The liquid funds returned 7.17% between July 2023 and June 2024, which is greater than the average savings account interest rate of 3.5% offered by India’s top five banks. T+1 day liquidity is another advantage available to investors, allowing them to instantly redeem up to Rs 50,000 or 90% of their investment value, whichever is less, in a matter of minutes.
4. It has partnered with Perfios Software Solutions Private Limited, a B2B SaaS Fintech, as a technical service provider for this initiative.

Note: Bajaj Finserv Asset Management Limited has been referred to as Bajaj Finserv Asset Management Company (AMC), headquartered in Pune, Maharashtra.

Prince Harry Receives Pat Tillman Award 2024 for Service at ESPYS

Prince Harry has received the Pat Tillman Award 2024 for Service at the Excellence in Sports Performance Yearly (ESPY) Awards in Los Angeles, USA. He was honored in recognition of his Invictus Games Foundation, a platform for sports competition for wounded, injured, and sick service men and women.

About Pat Tillman Award:

1. The Pat Tillman Award honors the player who demonstrates the best willingness to serve.
2. It was named after former National Football League (NFL) player Pat Tillman, who demonstrated his commitment to service before being tragically killed in Afghanistan in 2004.

Note: In 2023, Damar Hamlin presented the Pat Tillman Award to the Buffalo Bills training staff who helped save his life during a game.

K P Sharma Oli Took Oath as New Prime Minister of Nepal; Succeeds Pushpa Kamal Dahal Prachanda

On July 15, 2024, Khadga Prasad (KP) Sharma Oli, Chairman of the Communist Party of Nepal (Unified Marxist Leninist) (CPN-UML), took oath as the Prime Minister of Nepal during a ceremony at the Rashtrapati Bhawan in Kathmandu. This marks his 4th term as PM of Nepal. He was appointed by President Ram Chandra Paudel, succeeding Pushpa Kamal Dahal Prachanda, who lost a vote of confidence on July 12, 2024.

Background:

1. On July 3, 2024, the Communist Party of Nepal (Marxist-Leninist) withdrew its support to the government, and PM Prachanda sought a vote of confidence.
2. Around 138 votes are needed to prove a majority in the 275-member parliament.
3. Prachanda received 63 votes in favor, while 194 voted against, and one lawmaker abstained.
4. This led to the formation of a new government process as per Article 76 (2) of the Constitution of Nepal.
5. KP Sharma Oli submitted the claim to the post with signatures of 166 lawmakers in his support.

About KP Sharma Oli:

1. KP Sharma Oli was born on February 22, 1952, in Terhathum district, Nepal.
2. He joined political activities in 1966 and became a member of the Communist Party of Nepal in February 1970.
3. He was arrested in 1973 and imprisoned for 14 years for being against the autocratic Panchayat system. He was released in 1987.

Career Highlights:

1. KP Sharma Oli has previously served as Nepal’s PM from October 2015 to August 2016, February 2018 to May 2021, and May 2021 to July 2021. His appointment in 2021 was quashed by the Supreme Court of Nepal for being unconstitutional.
2. He has also served as Home Minister in 1994/95 and Deputy PM and Minister for Foreign Affairs during the interim government in 2006.

About Nepal:

• President: Ram Chandra Poudel
• Capital: Kathmandu
• Currency: Nepalese Rupee

DoT Officer Robert Ravi Takes Additional Charge as CMD of BSNL; Purwar Denied Extension

Robert Jerard Ravi, the Deputy Director General (DDG) (Standards Research & Innovation – SRI) at the Department of Telecommunications (DoT), Ministry of Communication (MoC), has taken additional charge as the Chairman and Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL). Ravi replaces Pravin Kumar Purwar, whose tenure as CMD of BSNL expired on July 14, 2024. Ravi also takes charge as CMD of Mahanagar Telephone Nigam Limited (MTNL) and Bharat Broadband Network Limited (BBNL) for six months, effective from July 15, 2024, until January 14, 2025, or until further orders are issued.

Additional Info:

1. Pravin Kumar Purwar has been serving as the CMD of BSNL since July 2019. His application to extend his tenure was rejected by the DoT.
2. The Appointments Committee of the Cabinet (ACC) decided not to extend Purwar’s tenure beyond July 14, 2024.

About Robert Jerard Ravi:

1. Robert Jerard Ravi is an Indian Telecom Service (ITS) officer with 34 years of experience in the telecom sector.
2. He has served