Current Affairs 6 August 2024

State Visit of H.E. Pham Minh Chinh, PM of Vietnam to India from 30 July-1 August 2024

The Prime Minister of Vietnam, H.E. Pham Minh Chinh, visited India from 30 July to 1 August 2024. This visit was at the invitation of Indian Prime Minister Narendra Modi. The purpose was to strengthen the comprehensive strategic partnership and enhance cooperation between the two countries. This was the first visit by a Vietnamese leader to India since the establishment of their comprehensive strategic partnership in September 2016. During this visit, various agreements and Memorandums of Understanding (MoUs) were signed. India and Vietnam agreed on a new action plan to be implemented over the next five years (2024-2028) to strengthen bilateral trade and economic cooperation. India also extended two Lines of Credit (LoC) amounting to USD 300 million to Vietnam to bolster the country’s maritime security.

CCEA Approves 8 High-Speed Road Corridors across India at Rs 50,655 Cr

The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved eight National High-Speed Road Corridor projects. These projects cover a length of 936 kilometers and will cost Rs. 50,655 crore. The projects include:

1. 6-lane Agra (Uttar Pradesh) to Gwalior (Madhya Pradesh)
2. 4-lane Kharagpur to Moregram (West Bengal)
3. 6-lane Tharad to Deesa to Mehsana to Ahmedabad (Gujarat)
4. 4-lane Ayodhya Ring Road (Uttar Pradesh)
5. 4-lane section between Pathalgaon and Gumla of Raipur (Chhattisgarh) to Ranchi (Jharkhand)
6. 6-lane Kanpur Ring Road (Uttar Pradesh)
7. 4-lane Northern Guwahati Bypass and widening/improvement of existing Guwahati Bypass (Assam)
8. 8-lane Elevated Nashik Phata-Khed Corridor near Pune (Maharashtra)

The Union Cabinet also approved significant amendments to banking laws, including increasing the number of nominees per deposit account to four and introducing “successive and simultaneous” nominations.

PM Narendra Modi Inaugurated 32nd ICAE in New Delhi

On 3rd August 2024, Prime Minister Narendra Modi inaugurated the 32nd International Conference of Agricultural Economists (ICAE 2024) at the National Agricultural Science Centre (NASC) Complex in New Delhi. This triennial conference is being held in India after 65 years and will conclude on 7th August 2024. The theme of ICAE 2024 is “Transformation Towards Sustainable Agri-Food Systems.” The conference aims to address global challenges like climate change, resource degradation, rising production costs, and conflicts. It is organized by the International Association of Agricultural Economists (IAAE) and co-organized by several Indian and international institutions. Approximately 1,000 delegates from around 75 countries are expected to attend.

Union Home Minister Amit Shah Launched 4 Apps for 3 New Criminal Laws in Chandigarh

On 4th August 2024, Union Minister Amit Shah launched four applications: e-Sakshya, Nyaya Setu, Nyaya Shruti, and e-Summon, for the three new criminal laws in Chandigarh. These apps were developed by the National Informatics Centre (NIC). The new criminal laws, which came into effect on 1st July 2024, are Bharatiya Nyaya Sanhita (BNS), Bharatiya Nyaya Suraksha Sanhita (BNSS), and Bharatiya Sakshya Adhiniyam (BSA). Chandigarh will be the first administrative unit in the country to fully implement these laws within the next two months.

Govt Extends Deadline for Meeting MSP Norms for CPSEs Until August 2026

The government has extended the deadline for Central Public Sector Enterprises (CPSEs), Public Sector Banks (PSBs), and Financial Institutions (FIs) to meet the Minimum Public Shareholding (MPS) norms until August 2026. This extension allows these entities to increase their public shareholding to at least 25% by 1 August 2026. The Securities and Exchange Board of India (SEBI) will take necessary actions and inform relevant stock exchanges about the extension.

RBI Revised Instructions on BDDR for Co-operative Banks to Ensure Uniformity

On 2nd August 2024, the Reserve Bank of India (RBI) issued revised instructions on Bad and Doubtful Debt Reserve (BDDR) for co-operative banks to ensure uniformity. These instructions apply to Urban Co-operative Banks (UCBs), State Cooperative Banks (StCBs), and Central Cooperative Banks (CCBs) and come into force immediately. The revised instructions aim to align the treatment of provisions for Non-Performing Assets (NPAs) with existing Accounting Standards (AS).

Government of Nagaland Signed MoU with SBI General Insurance on DRTPS

On 2nd August 2024, the Government of Nagaland signed a Memorandum of Understanding (MoU) with SBI General Insurance Company Limited for Disaster Risk Transfer Parametric Insurance Solution (DRTPS). This makes Nagaland the first state in India to implement DRTPS. The MoU was exchanged in the presence of Nagaland Chief Minister Neiphiu Rio. The DRTPS will help protect critical infrastructure and mitigate economic losses due to disasters.

Thomas Cook India Partners with NPCI To Launch RuPay Forex Card For UAE

Thomas Cook (India) Limited has partnered with the National Payments Corporation of India (NPCI) to launch the RuPay AED (United Arab Emirates Dirham) Forex Card. This is the first RuPay Prepaid Forex Card for Indian travelers visiting the UAE. The card, powered by NPCI’s technology partner CARD91, offers extensive usage across the UAE for transactions and ATM withdrawals.

IIT-M Partners with IDBI To Launch Cybersecurity Lab

The Indian Institute of Technology-Madras (IITM) has partnered with the Industrial Development Bank of India Limited (IDBI) to establish the ‘IDBI – IITM Secure Systems Lab’ (I2SSL) at the IITM campus. This lab will focus on developing and deploying security solutions in healthcare, fintech, and aerospace.

Bharat Forge’s Kalyani Strategic Systems Gets Licence To Make Defence Products

Kalyani Strategic Systems Limited (KSSL), a defence subsidiary of Bharat Forge Limited, received a defence licence to manufacture various defence products at its Jejuri unit in Maharashtra. The licence was granted by the Department for Promotion of Industry and Internal Trade (DPIIT) and will allow the company to participate in future defence programs.

SSB DG Daljit Singh Chawdhary Takes Over the Additional Charge as DG of BSF

On 3rd August 2024, Daljit Singh Chawdhary, the Director General (DG) of Sashastra Seema Bal (SSB), took over the additional charge as the DG of Border Security Force (BSF). He will hold this additional charge until a regular incumbent is appointed or until further orders.

ISRO Selected 2 New Crew Members for Axiom-4 Mission to International Space Station

The Indian Space Research Organisation (ISRO) announced that Group Captain Shubhanshu Shukla and Group Captain Prasanth Balakrishnan Nair have been selected as crew members for the Axiom-4 (Ax-4) mission to the International Space Station (ISS). Group Captain Shukla will serve as the Prime mission pilot, while Group Captain Nair will be his backup.

Padma Awardee & Renowned Indian Classical Dancer Yamini Krishnamurthy Passed Away

Padma Awardee Mungara Yamini Krishnamurthy, a renowned Indian classical dancer, passed away at the age of 83 in New Delhi. She was a distinguished dancer of Bharatanatyam, Kuchipudi, and Odissi. She was honored with Padma Shri, Padma Bhushan, and Padma Vibhushan for her contributions to the field of arts.

Piyush Goyal Launches ‘India@100: Envisioning Tomorrow’s Economic Powerhouse’ By Prof K V Subramanian

Union Minister Piyush Goyal launched the book ‘India@100: Envisioning Tomorrow’s Economic Powerhouse,’ authored by Professor K V Subramanian. The book predicts that India can achieve a USD 55 trillion economy by 2047 with self-sufficiency, a stronger currency, and an 8% Annual Growth Rate (AGR).

14th Indian Organ Donation Day – 3 August 2024

The 14th Indian Organ Donation Day (IODD) was celebrated on 3rd August 2024. This day commemorates the first successful deceased donor organ transplant in India, which was also the first heart transplant. The National Organ and Tissue Transplant Organization (NOTTO) organizes this annual event.

National Bone & Joint Day 2024 – August 4

National Bone and Joint Day is observed annually on 4th August to raise awareness about the importance of strong bones and joints. The Indian Orthopaedic Association (IOA) leads this nationwide health campaign.

Puducherry CM N Rangasamy Presented Rs 12,700cr Budget for FY25

On 2nd August 2024, Puducherry Chief Minister Natesan Krishnasamy Rangasamy presented a tax-free budget of Rs 12,700 crore for the fiscal year 2024-2025. The budget includes central assistance, revenue expenditure, and capital expenditure allocations.

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