Current Affairs 13 August 2024

National Affairs

Cabinet Approvals on 9th August 2024

On August 9, 2024, the Union Cabinet, led by Prime Minister Narendra Modi, approved several key initiatives:

1. Pradhan Mantri JI-VAN Yojana: The timeline for this scheme, which focuses on biofuel production, has been extended by five years until 2028-29.
2. Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0: This scheme aims to provide affordable housing to 1 crore urban poor and middle-class families over the next five years.
3. Pradhan Mantri Awaas Yojana – Gramin (PMAY-G): This rural housing scheme aims to construct 2 crore additional houses with a budget of Rs. 3,06,137 crore.
4. Clean Plant Programme (CPP): Proposed by the Ministry of Agriculture and Farmers Welfare, this program has an outlay of Rs 1,765.67 crore.

Additionally, the Cabinet Committee on Economic Affairs (CCEA) approved eight projects for the Ministry of Railways, with a total estimated cost of around Rs. 24,657 crore.

About Ministry of Railways (MoR):

• Union Minister: Ashwini Vaishnaw (Constituency: Badshahpur, Orissa)
• Ministers of State: V. Somanna (Constituency: Bengaluru, Karnataka), Ravneet Singh (Constituency: Ludhiana, Punjab)

Education and Research

AIIA Signed MoU with Amity University

The All India Institute of Ayurveda (AIIA) has signed a Memorandum of Understanding (MoU) with Amity University, Noida, to collaborate on education, research, and technology in Ayurveda. The MoU was signed by Professor Tanuja Nesari, Director of AIIA, and Asha Prem Nath, Joint Registrar of Amity University, under the leadership of Dr. Atul Chauhan, Chancellor of Amity University, and the Ministry of AYUSH.

Key Points of the MoU:

• Promotes collaborative programs for education, publication, and capacity building.
• Extends the previous five-year MoU signed in October 2020.
• Includes student and faculty exchanges for academic and research purposes.
• Aligns with PM’s Vision 2047 for a developed India.

State Initiatives

Odisha Partners with WFP to Launch India’s First 24/7 ‘Grain ATM’

The Odisha Government, in partnership with the United Nations World Food Programme (WFP), has launched India’s first round-the-clock grain ATM, known as Annapurti, in Bhubaneswar. This initiative aims to provide 24/7 access to food grains under the National Food Security Act (NFSA).

Key Features of Grain ATM:

• Offers 24-hour access to food grains.
• Automated multi-commodity dispensing system.
• Can dispense up to 50 kg of grains in five minutes with minimal error.
• Beneficiaries can use Aadhaar or Ration card for biometric validation.

Border Security

MHA Constituted 5-member Committee to Monitor India-Bangladesh Border

On August 9, 2024, the Ministry of Home Affairs (MHA) formed a 5-member committee headed by Ravi Gandhi, Additional Director General (ADG) of the Border Security Force (BSF), to monitor the Indo-Bangladesh Border.

Committee Members:

• Maninder Pratap Singh, IG, BSF Frontier HQ South Bengal
• S Patel Piyush Purushottam Das, IG, BSF Frontier HQ Tripura
• Sanjiv Gupta, member (Planning and Development), Land Ports Authority of India (LPAI)
• Vivek Verma, Secretary, LPAI

Purpose:

• Maintain communication with Bangladeshi authorities to ensure the safety of Indian nationals and minority communities.

Healthcare Innovation

SCTIMST Signs MoU with WHO to Enhance Medical Device Production

Sree Chitra Tirunal Institute for Medical Science and Technology (SCTIMST) has signed an MoU with the World Health Organisation (WHO) to enhance medical device production in India. This collaboration aims to promote indigenous medical device manufacturing and reduce reliance on imports.

Key People Present:

• Dr. VK Saraswat, President of SCTIMST
• Dr. A Karandikar, Secretary, DST
• Dr. Rogério Paulo Pinto de Sá Gaspar, WHO Regulation and Prequalification Director
• Dr. Roderico H. Ofrin, WHO Representative in India

International Recognition

World Airline Awards 2024 by Skytrax

Indian airline Vistara has been voted the Best Airline in India/South Asia for the fourth consecutive time. Vistara is ranked 16th in the World’s Best Airline ranking and 8th in Asia’s Best Airlines ranking. Qatar Airways has been voted the World’s Best Airline for the 8th time.

Banking and Finance

Fractional Ownership Platform Property Share Received India’s 1st SM REIT License from SEBI

Property Share has become the first Fractional Ownership Platform to receive India’s first Small and Medium Real Estate Investment Trust (SM REIT) license from SEBI. The platform plans to launch its first SM REIT scheme to raise Rs 330 crore.

About Property Share:

• CEO: Kunal Moktan
• Headquarters: Bengaluru, Karnataka
• Established: 2015

SBI Signed MoU with Jakson Engineers to Promote Solar Energy Adoption in India

State Bank of India (SBI) has signed an MoU with Jakson Engineers Limited to promote solar energy adoption across India. This partnership aims to support India’s renewable energy targets by providing financial support for solar energy projects.

Key Points:

• Loans up to Rs 10 crore for commercial and industrial users.
• Supports PM Narendra Modi’s goal of achieving 100 GW of rooftop solar capacity by 2030.

Insurance

AFLI Partners With PhonePe to Increase Life Insurance Penetration in India

Ageas Federal Life Insurance Company Limited (AFLI) has partnered with PhonePe to offer instant term insurance. This partnership aims to increase insurance penetration, especially in Tier 2, 3, and 4 cities.

Key Points:

• Users aged 18 to 45 can access the ‘Ageas Federal Life Insurance Group Term Plan’ through PhonePe.
• Coverage amounts range from Rs. 5 lakh to Rs. 25 lakh.

Investments

Mirae Asset Investment Managers (India) Launches India’s 1st Multicap ETF

Mirae Asset Investment Managers (India) has launched India’s first Multicap Exchange Traded Fund (ETF), named the ‘Mirae Asset Nifty500 Multicap 50:25:25 ETF’. The New Fund Offer period is from August 12, 2024, to August 26, 2024.

Economic Projections

SBI Projects GDP Growth of 7% in FY25

The State Bank of India (SBI) has projected India’s real GDP growth at 7% for the financial year 2024-2025, slightly lower than the Reserve Bank of India’s forecast of 7.2%.

Appointments

Raj Kumar Chaudhary Takes Charge as CMD of NHPC Limited

Raj Kumar Chaudhary has taken charge as the Chairman and Managing Director (CMD) of NHPC Limited. His appointment is effective until June 30, 2025.

Space Collaboration

Dhruva Space Collaborates with Singapore’s ZES to Enhance its OBC Subsystems for Satellite Missions

Dhruva Space Private Limited has partnered with Singapore-based Zero-Error Systems (ZES) to enhance its On-Board computer (OBC) subsystem for upcoming satellite missions.

Obituary

Former CAF President Issa Hayatou Passed Away

Issa Hayatou, former President of the Confederation of African Football (CAF), passed away at the age of 77 in Paris, France. He served as CAF President for 29 years and was a member of the FIFA Executive Committee.

Important Days

World Bio-Fuel Day 2024 – August 10

World Biofuel Day is observed on August 10 to raise awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels.

World Lion Day 2024 – August 10

World Lion Day is observed on August 10 to raise awareness about lions and their conservation issues.

World Steelpan Day 2024 – August 11

World Steelpan Day is observed on August 11 to raise awareness of the cultural and historical significance of the Steelpan, the national musical instrument of Trinidad and Tobago.