Current Affairs 17 August 2024

NIRF Rankings 2024: IIT Madras Tops Overall Category for the 6th Time; IISC Bengaluru Leads Universities Category

Union Minister Dharmendra Pradhan from the Ministry of Education (MoE) has released the 9th edition of India Rankings (2024) based on the National Institutional Ranking Framework (NIRF). According to these rankings, the Indian Institute of Technology (IIT) Madras in Chennai, Tamil Nadu, has secured the top spot as the best educational institution in the country for the sixth consecutive time. Following IIT Madras, the Indian Institute of Science (IISc) in Bengaluru, Karnataka, and IIT Bombay in Mumbai, Maharashtra, have secured the second and third spots, respectively.

The 2024 framework provides a comprehensive “Overall” rank and distinct rankings in categories such as Universities, Research Institutions, Degree Colleges, Innovation, and discipline-specific rankings in Engineering, Management, Pharmacy, Law, Medical, Dental, Architecture & Planning, and Agriculture & Allied Sectors. Additionally, Open Universities, State Public Universities, and Skill Universities have been included as new verticals in this year’s rankings.

3 Indian Wetlands Added to Ramsar List, Totaling 85 Sites

Union Minister Bhupender Yadav from the Ministry of Environment, Forest and Climate Change (MoEF&CC) announced that three wetlands from India have been designated as Wetlands of International Importance, also known as Ramsar Sites. These include the Nanjarayan Bird Sanctuary and Kazhuveli Bird Sanctuary in Tamil Nadu and the Tawa Reservoir in Madhya Pradesh. With this addition, the number of Ramsar sites in India has reached 85, covering an area of 1,358,068 hectares. Tamil Nadu has the highest number of Ramsar sites (18), followed by Uttar Pradesh (10).

Kiren Rijiju & George Kurian Launched ‘Jiyo Parsi Scheme Portal’ & ‘Haj Application 2025’

On August 13, 2024, Union Minister Kiren Rijiju from the Ministry of Minority Affairs (MoMA) and Minister of State George Kurian launched the ‘Jiyo Parsi Scheme Portal’ and ‘Haj Applications 2025’ at Manthan Hall in New Delhi. The Jiyo Parsi Scheme Portal will enable Parsis to apply, check the status of their application, and receive financial aid online through Direct Benefit Transfer (DBT) mode. The scheme aims to stabilize the Parsi population and reverse the trend of population decline by providing medical assistance, advocacy, and community health support.

The Haj App 2025 is the first time applications have been invited on the Haj Suvidha App in addition to the website of the Haj Committee of India (HCI). The app provides pilgrims with access to training content, accommodation and flight details, baggage information, an emergency helpline (SOS), grievance redressal, feedback, language translation, and other services related to the pilgrimage.

GoI Introduces Offshore Areas Mineral Trust Rules, 2024

The Ministry of Mines, Government of India (GoI), has introduced the Offshore Areas Mineral Trust Rules, 2024, establishing the first-ever framework to oversee mineral exploration and production in India’s offshore areas. These rules represent a balanced approach to economic development and ecological sustainability in India’s offshore mineral sector. Under the new rules, production leaseholders of offshore mines must contribute 10% of their royalty payments to the Trust, which will be deposited in the Public Account of India (PAI). The Trust aims to promote sustainable exploration while ensuring environmental conservation and community welfare.

India & Israel Partner to Establish CoWT at IIT Madras

India and Israel have partnered to establish a ‘Center of Water Technology (CoWT)’ in Water Resources Management (WRM) and Water Technologies at the Indian Institute of Technology (IIT) Madras in Chennai, Tamil Nadu. A capacity-building course on ‘24/7 Water Supply in Urban Areas’ was held at IIT-Madras from August 5 to 8, 2024, to provide stakeholders with the necessary skills to manage urban water systems. The CoWT aims to serve as a hub for water technology innovation, research, and capacity building, with a particular emphasis on sustainable urban water supply solutions.

EEPC India & ISSDA Signed MoU to Boost MSME Exports of Steel Products

The Engineering Export Promotion Council of India (EEPC India) and the Indian Stainless Steel Development Association (ISSDA) have signed a Memorandum of Understanding (MoU) to enhance the export of Micro, Small, and Medium Enterprises (MSME) members in the engineering and stainless steel sectors. The MoU aims to identify potential products for exports and boost trade activities through trade exhibits, buyer-seller meetings, and economic summits. This partnership will leverage the expertise and networks of EEPC India and ISSDA to create new opportunities for Indian businesses in the global market.

IRCTC & NCRTC Collaborate to Launch ‘One India – One Ticket’ Initiative

The Indian Railway Catering and Tourism Corporation (IRCTC) and National Capital Region Transport Corporation (NCRTC) have collaborated to launch the ‘One India – One Ticket’ initiative. This initiative aims to simplify travel by allowing passengers to book and travel effortlessly using both Indian Railways and RRTS services. Passengers can book Namo Bharat tickets for up to eight travelers in a single booking through the IRCTC platform with flexible cancellation and payment options. The Namo Bharat tickets can be reserved up to 120 days in advance.

MoNPG Approved 20% Gas Price Premium for ONGC and OIL to Boost Production

On August 12, 2024, the Ministry of Petroleum and Natural Gas (MoPNG) approved a 20% premium over the regulated or Administered Price Mechanism (APM) price for any natural gas produced from new wells or well interventions in the nominated fields of state-owned companies: Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL). This move aims to make new gas development projects more viable and boost domestic production of natural gas from nominated fields.

RBI Tightens HFCs Norms to Bring Them on Par with NBFCs

On August 12, 2024, the Reserve Bank of India (RBI) issued revised guidelines to tighten the norms related to public deposit acceptance by Housing Finance Companies (HFCs) to bring them on par with Non-Banking Financial Companies (NBFCs). The revised guidelines will come into effect from January 1, 2025. Deposit-taking HFCs are now required to maintain 15% liquid assets of public deposits held by them in a phased manner. The revised regulations have also mandated that HFCs ensure full asset cover for public deposits accepted by them at all times.

Rural-focused Fintech Startup Jai Kisan Secured NBFC Licence

Mumbai-based rural-focused fintech startup Jai Kisan has secured a Non-Banking Finance Company (NBFC) license from the Reserve Bank of India (RBI) following its acquisition of a majority stake in supply chain financing company, Kushal Finnovation Capital Private Limited (KFCPL). The NBFC license will enable Jai Kisan to offer customized financial products, including loans from its own portfolio to farmers and rural businesses. The acquisition will also allow the company to enter into co-lending partnerships with financial institutions, including Public Sector Banks (PSBs).

RBI Imposes Penalties on 5 Financial Entities for Regulatory Violations

The Reserve Bank of India (RBI) has imposed monetary penalties on five entities for various regulatory non-compliances. These entities include Catholic Syrian Bank (CSB) Limited, Union Bank of India (UBI), Muthoot Housing Finance Company Limited (MHFCL), Nido Home Finance Limited (NHFL), and Ashoka Viniyoga Limited. The penalties range from Rs 3.1 lakh to Rs 1.86 crore for non-compliance with various RBI directions and guidelines.

DRDO Successfully Test-Fires Indigenous MP-ATGM in Rajasthan’s Jaisalmer

The Defence Research and Development Organisation (DRDO) and the Indian Army successfully conducted the test-firing of the indigenously developed Man-Portable Anti-Tank Guided Missile (MP-ATGM) at the Pokhran Field Firing Range (PFFR) in Jaisalmer, Rajasthan. Additionally, the DRDO successfully conducted the maiden flight test of the Long Range Glide Bomb (LRGB) named ‘GAURAV’ from an Indian Air Force (IAF) platform Su-30 MK-I off the coast of Odisha.

ISRO Successfully Launched 3rd and Final Development Flight SSLV-D3-EOS-08 Mission from Sriharikota, AP

On August 16, 2024, the Indian Space Research Organisation (ISRO) successfully launched its 3rd and final developmental flight of the Small Satellite Launch Vehicle (SSLV-D3) from the Satish Dhawan Space Centre (SDSC) at Sriharikota, Andhra Pradesh. This mission marks the completion of ISRO’s SSLV Development Project. The SSLV-D3-EOS-08 mission carried two satellites: Earth Observation Satellite (EOS-08) and the passenger satellite, SR-0 DEMOSAT, and successfully placed them into a 450-kilometer circular orbit around the earth.

Boeing Partners with AIESL to Support Indian Navy’s P-8I Fleet

On August 13, 2024, Boeing partnered with AI Engineering Services Limited (AIESL) to provide in-country maintenance, repair, and overhaul (MRO) services for the Indian Navy’s fleet of twelve Boeing P-8I maritime surveillance aircraft. This partnership recently achieved a significant milestone with the completion of the first-ever in-country landing gear overhaul at naval base Indian Naval Ship (INS) Rajali in Chennai, Tamil Nadu. This partnership is part of the Boeing India Repair Development and Sustainment (BIRDS) hub program, which aims to build a robust MRO ecosystem for defense and commercial aircraft in India.

Padma Awardee Ram Narain Agarwal, ‘Father of Agni Missile’, Passed Away

Renowned Defence Research and Development Organisation (DRDO) missile scientist, Dr. Ram Narain Agarwal, widely known as the “Father of Agni Missiles,” passed away at the age of 84 in Hyderabad, Telangana. He was born on July 24, 1941, in Jaipur, Rajasthan. Dr. Agarwal was honored with the Padma Shri in 1990 and Padma Bhushan in 2000 for his contributions to science and engineering. He was a prominent scientist at the DRDO, contributing to the Agni and other missile programs, and was the first Programme Director of Agni missiles.