Current Affairs Quiz 17th September 2024 Quiz

Exp. UPI users can now send Rs 5 lakh for some transactions

The National Payments Corporation of India (NPCI) has increased transaction limits for tax payments using the Unified Payments Interface (UPI), allowing people to transfer Rs 5 lakh in a single transaction.

While announcing its monetary policy statement on August 2024, RBI announced the enhancement of the limit for tax payments through UPI from Rs 1 lakh to Rs 5 lakh, per transaction.

Consumers can now make UPI payments of up to Rs 5 lakh per transaction for the following categories: a) tax payments, b) hospital and educational services, and c) IPOs and government securities.

Two additional enhancements were previously introduced through circulars issued in December 2021 and December 2023.

NPCI has also introduced a new feature called ‘UPI Circle’ on its Unified Payments Interface (UPI) platform. This feature allows primary UPI account holders to securely delegate payment responsibilities to trusted secondary users.

Acquiring entities must ensure that the classification of their merchants within MCC-9311 strictly adheres to the tax payments only. Merchants shall ensure UPI as a payment mode is enabled for the increased limit for the tax payments category.

What is NPCI?

• The National Payments Corporation of India (NPCI) is an initiative taken by the Reserve Bank of India (RBI) and Indian Bank’s Association (IBA) to operate the retail payments and settlement systems in India.
• This organization was founded in the year 2008 under the Payment and Settlement Systems Act, 2007.

Exp. Zanskar celebrates 9th Ladakh Zanskar Festival 2024

The 9th Ladakh Zanskar Festival 2024 began with remarkable grandeur in the picturesque village of Sani, signifying a landmark event for the region.

The festival was inaugurated by the Lieutenant Governor Brigadier (Dr) BD Mishra.

This year’s Zanskar Festival is especially significant as it marks the first celebration since Zanskar was officially declared a district.

The two-day festival showcases a wide array of cultural performances, reflecting the diverse traditions of the region. Highlights include performances by the Purgi tribes from Kargil, the Shina community of Drass, the Dard-Aryans from Aryan Valley, and the Changpa nomads from Changthang.

Cultural teams from Himachal Pradesh’s Lahaul & Spiti, Kinnaur, and Uttarakhand are participating, enriching the festival with their unique traditions.  

Exp. Piramal Finance join hands with Digital India’s CSCs to Boost Credit Access for Bharat’s Budget Customers

Piramal Capital & Housing Finance Ltd. (Piramal Finance), a wholly-owned subsidiary of Piramal Enterprises Ltd., has collaborated with Digital India’s Common Service Centres (CSCs) to satisfy Bharat’s lending needs by expanding access to formal credit for underserved persons and MSMEs.

This agreement successfully disbursed approximately Rs. 100 crore in August 2024 to increase credit availability in semi-urban areas, offering vital financial products such as house and business loans.

Using CSC’s wide network of over 6 lakh centres, this project intends to assist budget clients in tier 2 and tier 3 cities, successfully addressing the financial requirements of underserved regions and expanding financial inclusion.

Piramal Finance will increase its loan offers via CSCs, focussing on underserved areas to better serve individuals and MSMEs in tier 2 and tier 3 cities.

Recent MoUs Signed in Banking Sector

• Star Health Insurance & Policybazaar join hands to launch SUPER STAR health insurance plan
• Union Bank of India becomes first major Indian Bank to sign PCAF
• Blostem Partners with Suryoday SFB to Revamp Digital Fixed Deposits
• AU Small Finance inks pact with United India Insurance Co for distribution of insurance products
• Max Life Insurance Company Ltd partnered with CSB bank to boost insurance reach and market growth, aligning with their strategic goals
• Suryoday Small Finance Bank partnered with Tarrakki to offer digital fixed deposits

Exp. India ranked among Tier 1 countries in Global Cyber Security Index 2024

India has ranked among Tier 1 countries in the Global Cybersecurity Index (GCI). It is issued by the International Telecommunication Union (ITU).

‘GCI 2024’ has used a five-tier analysis this time. In this, the progress made in cyber security by various countries is tracked.

This report places 46 countries in Tier 1, the highest category. These countries have been named “Role Modeling”, which have shown a strong commitment to all important aspects of cyber security.

The Global Cyber Security Index 2024 reported that India has performed well in measures such as legal, technical, capacity expansion, and corporations.

Exp. Iran launches new research satellite Chamran-1 into orbit

Iran successfully launched its Chamran-1 research satellite into orbit on Saturday, utilising the Qaem-100 rocket developed by the paramilitary Revolutionary Guard.

The launch marks a milestone in Iran’s aerospace program, which has faced scrutiny and criticism from Western nations due to concerns that the technology could be repurposed for ballistic missile development.

The Chamran-1 satellite, weighing 60 kilograms, was placed into a 550-kilometer orbit and it is designed to test “hardware and software systems for orbital maneuver technology”.

The Qaem-100 rocket, a solid-fuel, three-stage vehicle, was previously used in January for another successful satellite launch.

About Iran

• Capital – Tehran
• Currency – Rial
• President – Masoud Pezeshkian
• Supreme Leader – Ayatollah Sayyed Ali Khamenei

Exp. HDFC Bank’s Parivartan initiative aims to uplift rural communities with sustainable development programmes

The HDFC Bank is set to increase the income of 5 lakh marginal farmers earning less than ₹60,000 annually by 2025, scaling up further its over ₹5,000 crore investments in the corporate social responsibility (CSR) initiatives in the last decade.

The bank’s focus on rural development reflects our continued commitment to fostering sustainable growth and uplifting vulnerable communities. Since its inception in 2014, Parivartan has grown into one of India’s largest CSR programmes, active in 28 States and 8 Union Territories.

Though following 2013, corporates invested 2 per cent of net profit in the CSR initiative as it has become mandatory due to Section 135 of the Companies Act, Bharucha said his bank started the sustainable livelihood initiative (SLI) way back in 2008, giving affordable credit to people.

By way of Parivartan, one of the largest CSR initiatives by a corporate entity in the country, HDFC Bank Deputy Managing Director (DMD) Kaizad M Bharucha said, they have been able to touch over 10 crore lives directly and indirectly in ten years and fostered self-reliance and empowerment in the communities they work with.

In the CSR activities, which first began in Varanasi, the Bank said it spent ₹945.31 crore in FY24, which was up from ₹820.89 crore in FY23 and ₹736.01 crore in FY22.

Exp. Jordan’s king appoints Jafar Hassan to serve as PM

Jordan’s King Abdullah II tapped a longtime aide to serve as the kingdom’s new prime minister.

Hassan has a Ph.D. in political science from the University of Geneva and a master’s degree in public administration from Harvard University.

He will replace the outgoing prime minister, Bisher Al-Khasawneh, whose Cabinet resigned in the wake of a parliamentary election. Al-Khasawneh has served since October 2020.

About Jordan

• Capital- Amman
• King- Abdullah II
• PM of Jordan – Jafar Hassan
• Currency- Jordanian Dinar
• Official language- Arabic
• Continent- Asia

Newly Appointed Prime Minister & President

• President of Algeria – Abdelmadjid Tebboune
• PM of France – Michel Barnier
• PM of Thailand – Paetongtarn Shinawatra (youngest PM of country)
• President of Rwanda – Paul Kagame (4th time)
• PM of Bulgaria – Goritsa Gruncharova-Kozhareva
• PM of Tunisia – Kamel Madouri

Exp. 4th edition of the Global Bio-India 2024 concludes in New Delhi

The fourth edition of Global Bio-India 2024 successfully concluded after showcasing India’s biotech prowess.

The three-day event was themed on the potential and opportunities in ‘Biotech Innovation’ and ‘Bio-manufacturing’ and their impact on the bio economy.

Theme 2024 – Biotech Innovation’ and ‘Bio-manufacturing’.

In Global Bio India, the country’s biotech startups unveiled 11 products that showcased the country’s emerging talent in biosciences.

The 4th Global Bio-India 2024 was organised by the Department of Biotechnology under the Ministry of Science & Technology, Government of India, and the Biotechnology Industry Research Assistance Council (BIRAC).

South Korea was the partner country at the 4th Global Bio-India 2024.

Exp. India to host high-level international meetings on anti-doping in sports

India is set to host the 2nd Formal Meeting of the COP9 Bureau and the 3rd Formal Meeting of the Fund Approval Committee under the UNESCO International Convention against Doping in Sport on in New Delhi.

As Vice-Chairperson of the COP9 Bureau, India has taken the lead in organizing these high-level gatherings, which will bring together key decision-makers and dignitaries from across the world.

Hosted by the Ministry of Youth Affairs & Sports, the meetings will see participation from distinguished delegates representing countries such as Azerbaijan, Barbados, Estonia, France, Italy, Russia, Saudi Arabia, Senegal, Singapore, The Netherlands, Türkiye, UAE, and Zambia.

Senior officials from the UNESCO International Convention against Doping in Sport will also be present, contributing to the discussions in a hybrid format.

The meetings will serve as a vital platform for countries and international organizations to deliberate on key issues concerning anti-doping, the development of fair sports practices, and global collaboration in upholding the principles of integrity in sport.

These deliberations will be instrumental in strengthening the ongoing fight against doping, ensuring that athletes around the world can compete in a clean and fair environment.

Exp. 4th South Asian Junior Athletics Championship:  India at topped the medal tally

The 4th South Asian Junior Athletics Championships was held at the Jawaharlal Nehru Stadium, Chennai, Tamil Nadu.

India led the Medal tally by winning 48 medals- 21 gold,22 silver and 5 bronze.

The Sri Lanka team, which gave a tough fight to the Indians, came second with 35 medals—9 gold, 9 silver, and 17 bronze. Bangladesh came third with three bronze medals. Pakistan and Bhutan failed to win a single medal at the event.

The first South Asian Junior Athletics Championships was held in Sri Lanka in November 2007. The second edition was held in Ranchi in November 2013, and the third was held in May 2018 in Colombo, Sri Lanka.

All seven countries of the South Asian Athletics Federation (SAFF) -India, Pakistan, Sri Lanka, Maldives, Bangladesh, Bhutan, and Nepal—participated in the 4th South Asian Junior Athletics Championships.

India competed with the largest contingent of 62 athletes, followed by Sri Lanka with 54, Bangladesh with 16, Maldives with 15, Pakistan with 12, Nepal with 9 and Bhutan with 5 athletes.

Exp. President Murmu inaugurates 8th India Water Week

President Droupadi Murmu has inaugurated 8th India Water Week 2024.

The 8th India Water Week 2024 will start from 17 Sep to 20 Sep in New Delhi.

During the four-day event, around four thousand delegates including two hundred foreign delegates from 40 countries will participate. More than one hundred exhibitors and startups will showcase their ideas in the water sector during the exhibition.

The event will serve as a global platform to elicit ideas and opinions from global-level decision-makers, researchers, experts, innovators and stakeholders in the field of water resources from across the world

Theme 2024 – Partnership and cooperation for inclusive water development and management.  

Exp. PM Modi launches India’s first ‘Namo Bharat Rapid Rail’ connecting Ahmedabad and Bhuj

Prime Minister Narendra Modi has flagged off country’s first Vande Metro, now renamed as Namo Bharat Rapid Rail service, between Bhuj and Ahmedabad.

The Ahmedabad-Bhuj Vande Metro service will stop at nine stations and cover the 360-kilometre distance in 5 hours and 45 minutes at a top speed of 110 kilometres per hour.

Developed on the same platform as the Vande Bharat Express, the Vande Metro train is a self-propelled train set designed for short-distance inter-city travel. However, unlike Vande Bharat which is a semi-high speed 160 kmph train set, the Vande Metro trains will have a maximum speed limit of 130 kmph.

Exp. LIC selects Infosys for NextGen digital insurance platform project

The Life Insurance Corporation of India (LIC) has selected IT major Infosys to develop its NextGen digital platform.

It will be an integrated end-to-end digital insurance solution providing “excellent services to customers, business lifecycle management and operational activities for sales intermediaries and digital front-end platform for branch employees”.

The digital platform will be modular, flexible, cloud-native and have platform driven architecture capable of quickly adopting innovative technologies, new products and features.

It will form the foundation for building high value business applications such as the customer and sales super apps, portals and digital branch for LIC.

Exp. 15 September – National Engineers Day

India celebrates National Engineer’s Day on September 15, commemorating the birth anniversary of engineer Mokshagundam Visvesvaraya, a pioneer in the field of engineering.

The day is observed to honour his contributions to the development of India in the fields of engineering, education and economy.

Theme 2024 – Innovating for a Sustainable Future

Mokshagundam Visvesvaraya was awarded Bharata Ratna by the Government of India in 1955.

Exp. 17 September – World Patient Safety Day

World Patient Safety Day is an annual observance on September 17th, established by the World Health Organisation (WHO).

Objective – To raise global awareness about patient safety, promote actions to enhance safety in healthcare, and encourage stakeholders to unite for safer healthcare practices.

Theme 2024 – Improving Diagnosis for Patient Safety

In 2019, the 72nd World Health Assembly passed a resolution to establish World Patient Safety Day as a global health priority. The WHO began global campaigns each year, focusing on various themes within patient safety, such as safe childbirth, medication safety, and the empowerment of patients and caregivers.

Exp. Arvind Kejriwal resigns as Chief Minister, Atishi stakes claim to top post

Aam Aadmi Party legislators in New Delhi have elected State Minister Atishi as the new Chief Minister-designate in place of Arvind Kejriwal.

Atishi’s name was proposed by Kejriwal at the meeting of the legislature party, and it was unanimously accepted by the AAP MLAs.

Ms Atishi now holds key portfolios in the Delhi government such as Education and Public Works Department.

WHO IS ATISHI?

• An Oxford University alumna and a Rhodes scholar, Atishi is considered close to Kejriwal and former deputy Chief Minister Manish Sisodia, under whom she worked as an advisor till 2018.
• Apart from being the only woman minister in the Delhi Cabinet, she is also in charge of 14 portfolios, including education, finance, public works department, revenue and services.
• Her electoral career got off to an unsuccessful start as she was defeated by cricketer-turned-politician Gautam Gambhir from East Delhi Lok Sabha constituency in 2019.
• However, she was elected from the Kalkaji seat in the 2020 Delhi Assembly polls, defeating BJP’s Dharambir Singh by over 11,000 votes.