Current Affairs 24 August 2024

Overview of Malaysian PM Anwar bin Ibrahim’s 3-day State Visit to India from 19th to 21st August 2024

The Prime Minister of Malaysia, Anwar bin Ibrahim, visited India for three days from August 19 to August 21, 2024. This visit was at the invitation of Indian Prime Minister Narendra Modi. The purpose of the visit was to strengthen the strategic partnership and enhance cooperation between the two countries. This was Anwar bin Ibrahim’s first visit to India and the South Asia region since he became the Prime Minister of Malaysia in 2022.

On August 20, 2024, PM Narendra Modi held a bilateral meeting with Anwar bin Ibrahim at Hyderabad House in New Delhi. During the visit, the governments of India and Malaysia signed several Memorandums of Understanding (MoUs) and agreements in various fields, including recruitment, employment, repatriation of workers, Ayurveda and traditional medicine, digital technologies, culture, arts, and heritage.

About Malaysia:

• Prime Minister: Anwar bin Ibrahim
• Capital: Kuala Lumpur
• Currency: Malaysian Ringgit

MNRE Minister Chaired HoT Agreement Signing between India, Singapore & Japan to Export Green Ammonia from India to Japan

Union Minister Pralhad Venkatesh Joshi, from the Ministry of New and Renewable Energy (MNRE), chaired the signing ceremony of the first-ever Heads of Terms (HoT) agreement for exporting Green Ammonia from India to Japan. The agreement was signed in New Delhi between Singapore-based Sembcorp Green Hydrogen Pte. Ltd. and Japan-based companies Sojitz Corporation, Kyushu Electric Power Company, and NYK Line.

This collaboration highlights India’s growing importance in the global green energy sector. Green ammonia will be produced in India using the country’s renewable energy resources. Kyushu Electric Power Co. will use the green ammonia in Japan’s energy mix, partially replacing coal at their thermal power plants. Sojitz Corporation will facilitate the business connection, and NYK Line will manage maritime transportation.

About the Ministry of New and Renewable Energy (MNRE):

• Union Minister: Pralhad Venkatesh Joshi (Constituency: Dharwad, Karnataka)
• Minister of State: Shripad Yesso Naik (Constituency: North Goa, Goa)

Power Minister Manohar Lal Khattar Launches 3 Online Platforms to Boost Power Sector Efficiency

On August 20, 2024, Union Minister Manohar Lal Khattar launched three online platforms to enhance the efficiency, transparency, and effectiveness of the power sector. The platforms are:

1. Portal for Online Monitoring of Projects – Thermal (PROMPT)
2. Disaster Resilient Infrastructure for Power Sector (DRIPS)
3. Online Portal for Monitoring Survey and Investigation Activities of Hydro Electric Projects and Pumped Storage Projects (JAL VIDYUT DPR)

PROMPT is a centralized platform for real-time tracking of thermal power projects. The DRIPS portal helps in identifying and deploying resources during power sector disruptions caused by disasters. The JAL VIDYUT DPR supports the growth of hydropower and pumped storage projects in India.

About Central Electricity Authority (CEA):

• Chairperson: Ghanshyam Prasad
• Headquarters: New Delhi, Delhi

MoL&E Launches ‘BoCW MIS Portal’ For Building and Other Construction Workers

On August 21, 2024, the Ministry of Labour & Employment (MoL&E) launched the ‘Building and Other Construction Workers (BoCW) Management Information System (MIS) Portal’. This portal will help states and Union Territories finalize draft rules under the four Labour Codes and improve welfare schemes for BoCW. The portal was launched during the 15th meeting of the BoCW Monitoring Committee chaired by Sumita Dawra, Secretary of MoL&E.

The BoCW MIS portal will function as a centralized data management system for compiling and analyzing data from the BoCW Welfare Boards of States. States and UTs are required to register on the portal and update their details, including fund utilization and worker registration data.

About the Ministry of Labour & Employment (MoL&E):

• Union Minister: Dr. Mansukh Mandaviya (Constituency: Porbandar, Gujarat)
• Minister of State: Shobha Karandlaje (Constituency: Bangalore North, Karnataka)

Brand Finance’s Food & Drink 2024: AMUL Emerged as World’s Strongest Food and Dairy Brand

According to the Brand Finance’s Food & Drink 2024 report, Anand Milk Union Limited (AMUL) has emerged as the world’s strongest food and dairy brand with an AAA+ rating for the fourth consecutive year. AMUL’s brand value increased by 11% to USD 3.3 billion, with a Brand Strength Index (BSI) score of 91 out of 100. AMUL improved its ranking from 29th position in 2023 to 22nd in 2024 on the list of the world’s most valuable and strongest food brands.

About Brand Finance:

• Chairman and CEO: David Haigh
• Headquarters: London, United Kingdom
• Established: 1996

Axis Bank Launches Neo for Merchants App in Partnership with VISA & Mintoak

On August 20, 2024, Axis Bank Limited launched ‘Neo for Merchants’, a transformative mobile app in partnership with VISA and Mintoak. This app acts as a one-stop solution for the merchant community, enhancing the omni-channel payment experience and simplifying operations. The app empowers merchants to manage payments, view transaction reports, and raise service requests directly through a mobile application.

About Axis Bank Limited:

• Managing Director and CEO: Amitabh Chaudhry
• Headquarters: Mumbai, Maharashtra
• Tagline: Badhti Ka Naam Zindagi
• Established: 1993

BharatPe Partners with OTO Capital and Volt Money to Offer Secured Loans

BharatPe has partnered with OTO Capital to enable two-wheeler loans and with Volt Money to facilitate Loans Against Mutual Funds for its merchant partners. BharatPe’s merchants can now avail two-wheeler loans of up to Rs 2.5 lakh and loans of up to Rs 1 crore against Mutual Funds. These loans will be enabled on BharatPe’s platform, with OTO Capital and Volt Money responsible for loan disbursal and collections.

About BharatPe:

• CEO: Nalin Negi
• Headquarters: New Delhi, India
• Founded: 2018

PLL Signs MoU with LTL Holdings to Supply LNG to Sri Lankan Power Plants

Petronet LNG Limited (PLL) and LTL Holdings, Sri Lanka, signed a Memorandum of Understanding (MoU) in Colombo for the supply of Liquified Natural Gas (LNG) to LTL’s dual-fuelled power plants in Kerawalapitiya, Colombo. The MoU focuses on providing an innovative solution for LNG supply through a multimodal ISO Container supply chain. The initial term of the LNG supply is set for five years.

About Petronet LNG Limited (PLL):

• Founded: 1998
• Headquarters: New Delhi, India

RBI Governor Shaktikanta Das Rated ‘A+’ in Global Finance Central Banker Report Cards 2024

The Reserve Bank of India (RBI) Governor, Shaktikanta Das, has been rated “A+” for the second consecutive year in the ‘Central Banker Report Cards 2024’ by Global Finance magazine. Other central bank governors who received the “A+” rating include Christian Kettel Thomson of Denmark and Thomas Jordan of Switzerland.

About Global Finance:

• Founder: Joseph D. Giarraputo
• Managing Director: Richard Scholtz
• Headquarters: New York, USA
• Established: 1987

Rajesh Nambiar Appointed as President-Designate of NASSCOM; Succeeds Debjani Ghosh

Rajesh Nambiar, Chairman and Managing Director of Cognizant India, has been appointed as the president-designate of NASSCOM. He will succeed Debjani Ghosh upon the completion of her term in November 2024. Rajesh Nambiar will step down from his role at Cognizant India in September 2024.

About the National Association of Software and Services Companies (NASSCOM):

• President: Debjani Ghosh
• Headquarters: Noida, Uttar Pradesh
• Established: 1988

M Suresh Becomes Interim AAI Chairman, Succeeding Sanjeev Kumar

On August 20, 2024, M Suresh was appointed as the interim Chairman of the Airports Authority of India (AAI), succeeding Sanjeev Kumar. M Suresh is currently serving as the Member of Air Navigation Services at AAI.

About Airports Authority of India (AAI):

• Chairman: M Suresh
• Headquarters: New Delhi, Delhi
• Established: 1995

SpaceX Plans 1st Human Spaceflight Mission “Fram2” Over Earth’s Polar Regions

SpaceX is set to launch “Fram2”, the first human spaceflight mission to explore Earth from a polar orbit. The mission will be launched onboard Falcon 9 from Florida’s Space Coast. The crew includes Chun Wang from Malta, Jannicke Mikkelsen from Norway, Eric Philips from Australia, and Rabea Rogge from Germany. The mission will study Earth’s polar regions and conduct research on the effects of spaceflight on the human body.

India’s 1st Abrasive Waterjet Unveiled by IIT-Madras Director V Kamakoti

Guhan Industries and Manufacturing Solutions (GIMS), a startup backed by IIT Madras, has developed India’s first Abrasive Waterjet machine. This machine can cut combustible materials without generating heat and will be useful in the semiconductor, aviation, defence, and diamond industries. The machine was unveiled by V Kamakoti, Director of IIT-Madras.

National Award Winning Indian Filmmaker Utpalendu Chakraborty Passed Away

Renowned Indian filmmaker Utpalendu Chakrabarty passed away at the age of 76 in Kolkata, West Bengal. He was known for films like ‘Chokh’, ‘Moynatadanto’, ‘Chandaneer’, ‘Phaansi’, and ‘Debshishu’. He received the National Film Award for Best Feature Film and Best Direction for ‘Chokh’ in 1983.

First-Ever National Space Day – 23 August 2024

The first-ever National Space Day was observed across India on August 23, 2024, to commemorate the achievement of the Chandrayaan-3 Mission by ISRO. The theme for 2024 was “Touching Lives while Touching the Moon: India’s Space Saga”. President Droupadi Murmu presented the Rashtriya Vigyan Puraskar 2024 to the ISRO–Chandrayaan 3 Team.

About the Indian Space Research Organisation (ISRO):

• Chairman: Dr. S. Somanath
• Headquarters: Bengaluru, Karnataka
• Established: 1969

International Day for the Remembrance of the Slave Trade and its Abolition 2024 - August 23

The United Nations’ International Day for the Remembrance of the Slave Trade and its Abolition is observed annually on August 23. This day marks the tragedy of the transatlantic slave trade and honors the memory of all those who suffered. The day was first observed in Haiti on August 23, 1998, and in Gorée Island, Senegal, on August 23, 1999.

About the United Nations Educational, Scientific and Cultural Organisation (UNESCO):

• Director-General: Audrey Azoulay
• Headquarters: Paris, France
• Established: 1945