Current Affairs 7 August 2024

India and Saint Kitts & Nevis Sign MoU on Sports Cooperation

On August 5, 2024, India’s Union Minister Mansukh Mandaviya and Saint Kitts and Nevis’ Minister of Foreign Affairs, Denzil Llewellyn Douglas, signed a Memorandum of Understanding (MoU) in New Delhi to enhance cooperation in sports. The MoU aims to improve sporting capacities in both countries through collaboration, expertise sharing, and mutual growth in various athletic disciplines. Key areas of cooperation include training and competition opportunities, technical assistance for coaches, exchange programs, youth and junior exchanges, sports science programs, coach education, technology and infrastructure development, sports research, and physical education.

MoHFW Issues SOPs for Transporting Human Organs

The Ministry of Health and Family Welfare (MoHFW) has introduced Standard Operating Procedures (SOPs) for the transportation of human organs via air, road, rail, and waterways. The aim is to expedite the transport of live organs between hospitals or cities, addressing the critical need for timely delivery. This initiative was developed in collaboration with NITI Aayog and various ministries. The SOPs provide guidelines for transporting organs, including priority measures for air travel, green corridors for road and metro transport, and specific handling instructions for the organ box.

Government Declares New Peacock Sanctuaries

Union Minister Bhupender Yadav announced that the central government has declared Choolannuar in Kerala and Adichunchanagiri in Karnataka as Peacock Sanctuaries. These sanctuaries aim to protect peacocks, the national bird of India. The Choolannuar Peacock Sanctuary, established in 1996, is located in Palakkad and Thrissur districts of Kerala. The Adichunchanagiri Peacock Sanctuary, established in 1981, is located in Mandya district, Karnataka. Both sanctuaries focus on the conservation and breeding of peacocks.

LIC Launches Four Term Insurance Products for Youth

On August 5, 2024, the Life Insurance Corporation of India (LIC) launched four new term insurance products for the youth, including LIC’s Yuva Term/Digi Term and LIC’s Yuva Credit Life/Digi Credit Life. These products are available both offline and online. The plans offer flexible options for young individuals seeking early term insurance, with benefits such as lower premium rates for women and high sum assured rebates.

SEBI Directs MFs to Value AT-1 Bonds Based on Yield-to-Call

The Securities and Exchange Board of India (SEBI) has directed Mutual Funds to value their investment in Additional Tier-1 (AT-1) bonds issued by banks on a Yield-to-Call (YTC) basis. This decision aligns with market practices and Indian Accounting Standard (Ind AS) 113 principles. The new valuation method aims to protect investors’ interests and regulate the securities market.

SBI Approves Rs 25,000 Crore Fundraising Plan

The State Bank of India (SBI) has approved a proposal to raise up to Rs 25,000 crore through the issue of Tier-1 and Tier-2 bonds in the fiscal year 2024-25. The funds will be raised in Indian Rupee or United States Dollar and will be Basel-III compliant. This announcement was made along with SBI’s Q1 results for FY25.

J&K Bank Launches “Kisan Ka Samman” Program

On August 1, 2024, Jammu & Kashmir Bank launched the “Kisan Ka Samman” program to empower farmers who have shown exceptional financial discipline. The program will run until September 30, 2024, and will honor identified farmers with a Certificate of Appreciation. These farmers will also be offered additional loan products under the bank’s “Kisan Dost” scheme.

BHEL Receives Order for Methanol Firing Demonstration

Bharat Heavy Electricals Limited (BHEL) has received its first-ever order to demonstrate methanol firing in a Gas Turbine at the 350 MW Kayamkulam Combined Cycle Power Plant in Kerala. This project aims to revive unutilized gas turbine sets in India. BHEL’s Hyderabad-based units will provide key equipment and technical support for the project.

Lt Gen Vikas Lakhera Assumes Charge as DG of Assam Rifles

On August 1, 2024, Lieutenant General Vikas Lakhera assumed charge as the 22nd Director General of the Assam Rifles. He succeeded Lt. Gen. Pradeep Chandran Nair. Prior to this appointment, Lakhera served as the Additional Director General of Military Operations.

Dinesh Karthik Appointed as SA20 League Ambassador

Former India wicketkeeper Dinesh Karthik has been appointed as the league ambassador of South Africa’s premier T20 cricket League (SA20 League) ahead of the 2025 edition. He will also join Paarl Royals as an overseas player, becoming the first Indian player to feature in the SA20.

Carlyle Group Sells 12.8% Stake in PNB Housing Finance

The Carlyle Group has sold a 12.8% stake in PNB Housing Finance Limited for Rs 2,578.09 crore through open market transactions. Following the stake sale, Carlyle Group’s stakeholding in PNB Housing Finance has declined to 19.88% from 32.68%.

IAF Grants Clearance for Astra Mark-1 Missile Production

The Indian Air Force (IAF) has granted clearance to the Defence Research and Development Organisation (DRDO) and Bharat Dynamics Limited (BDL) for the production of 200 Astra Mark-1 Air-to-Air Missiles. This clearance follows the completion of all tests and developments.

China Launches First 18 Satellites for Megaconstellation

Shanghai Spacecom Satellite Technology (SSST) launched the first batch of 18 satellites for its Low Earth Orbit (LEO) communications megaconstellation named “Qianfan.” This launch is part of SSST’s goal to deploy 1,296 LEO satellites by 2030.

Renowned Social Worker Shobhana Ranade Passes Away

Padma Bhushan awardee Shobhana Ranade, a renowned Gandhian activist and social worker, passed away at the age of 99 in Pune, Maharashtra. She was honored with the Padma Bhushan in 2011 for her contributions to social work.

Hiroshima Day 2024

Hiroshima Day is observed annually on August 6 to commemorate the atomic bombing of Hiroshima by the United States in 1945. This year marks the 79th anniversary of the bombing.

CJI DY Chandrachud Launches e-DHCR Portal

Chief Justice of India Dr. DY Chandrachud launched the e-DHCR portal, a new platform for reporting judgments from the Delhi High Court. The portal aims to democratize access to legal knowledge by making landmark judgments available online for free.

Jharkhand CM Launches ‘Upasthiti Portal’

On August 5, 2024, Jharkhand Chief Minister Hemant Soren launched the ‘Upasthiti Portal’ to ensure daily attendance of doctors, para-medical staff, and other employees under the health department. The portal will facilitate cross-verification of biometric attendance.

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