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Daily Current Affairs 24th July 2024 Daily GK Update
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National News
TIDCO gets site clearance from the centre to develop Parandur airport
- The greenfield airport at Parandur near Chennai is closer to becoming a reality as the Tamil Nadu Industrial Development Corporation gets the site clearance from the Centre.
- The Steering Committee on Greenfield Airports has recommended for grant of Site Clearance to Tamil Nadu Industrial Development Corporation (TIDCO) for developing the Greenfield airport at Parandur, Kancheepuram District.
- An investment of ₹20,000 crore is being planned to develop a greenfield airport at Parandur, which would annually handle 10 crore people; it will have two runways, terminal buildings, taxiways, an apron, and a cargo terminal.
- The Chennai airport handles around 2.2 crore people annually. After the ongoing modernization work, it can handle 3.5 crore people a year for the next seven years.
Department Of School Education and Literacy to observe Shiksha Saptah
- The Department of School Education and Literacy under the Ministry of Education (MoE) has begun its week-long observance of ‘Shiksha Saptah’ (Education Week), to mark the fourth anniversary of the National Education Policy 2020.
- The event is scheduled from July 22 to July 28 with the first day being observed as the Teaching-Learning Material (TLM) Day.
- This event, organized under the ambit of the Ministry of Education, Govt. of India, aims to present a common platform to resonate and live the spirit of achievements gained over the last four years of NEP 2020 implementation.
- During the week theme-based days will be observed. It includes Teaching-Learning Material Day, Foundational Literacy and Numeracy Day, Sports Day and Cultural Day.
Atal Innovation Mission and WIPO sign a Letter of Intent towards building joint innovation programs in global south
- A high-level delegation from World Intellectual Property Organization (WIPO) comprising of Mr. Sherif Saadallah, Executive Director, WIPO Academy and Ms. Altaye Tedla, Head WIPO Academy visited NITI Aayog for signing of a Joint Letter of Intent (JLoI) between Atal Innovation Mission (AIM) and WIPO.
- The JLoI is aimed at building programs for Innovation, Entrepreneurship & Intellectual Property (IP) for countries in the Global South.
- This pathbreaking partnership between AIM and WIPO will take the best of India’s innovation models to countries that are on similar development trajectories, and will enhance understanding and awareness about IPR right from the school-level and unlock the innovation potential of the world as well as foster inclusive and sustainable economic growth.
- Atal Innovation Mission is a flagship initiative by the NITI Aayog to create a culture of innovation and entrepreneurship across India.
NTPC Vidyut Vyapar Nigam Ltd. to set up Green Charcoal plant in Haryana
- NTPC Vidyut Vyapar Nigam Limited (NVVNL) will set up two green charcoal plants in Gurugram and Faridabad, Haryana. These plants will convert municipal waste into charcoal or green coal.
- The MoU was signed in the presence of Union Power Minister Manohar Lal, Chief Minister Nayab Singh Saini and Minister of State for Urban Local Bodies Subhash Sudha.
- NTPC Vidyut Vyapar Nigam Limited, a subsidiary of National Thermal Power Corporation Limited, will set up this plant under the Atmanirbhar Bharat Abhiyan.
- These green charcoal plants will be set up in Bandhwari in Gurugram and Mothuka in Faridabad. Each plant will cost around 500 crore rupees.
- These plants will convert 1,500 tonnes of waste collected daily from Gurugram and Faridabad into charcoal.
China makes world’s first high-speed carbon fiber train
- China has shown off a revolutionary passenger train made of only carbon fiber. This is a big step forward in high-speed rail technology.
- According to Interesting Engineering, the country has unveiled the first carbon fiber-only passenger train in history. The world looks to China’s vast high-speed rail network, which currently covers around 28,000 miles.
- This advanced train can reach a top speed of 87 mph. It is expected to consume 7% less energy than a typical steel train, according to Qingdao Sifang.
- This is a notable advancement in sustainable transportation since the decrease in energy usage is in line with larger environmental objectives.
About China
- Capital – Beijing
- Currency – Yuan
- President – Xi Jinping
Hardik Pandya teams up with FanCode Shop to launch his brand
- Allrounder Hardik Pandya has inked an exclusive licensing pact with FanCode Shop, the online merchandise store of Dream Sports-owned FanCode, to launch his performance wear range.
- FanCode will design, manufacture, and market the items. Rise Worldwide’s Nikhil Bardia noted this is Pandya’s first licensing venture.
- The launch includes key items like t-shirts, vests, and jackets, diversifying from his typical endorsement deals.
- The initial product lineup includes t-shirts, vests, polos, shorts, and jackets, with prices ranging from Rs 999 to Rs 2299.
Banking and Financial
SIDBI to build $1 b fund for green financing with $215 m from GCF
- The Small Industries Development Bank of India (SIDBI), which received approval of funding of $ 215.6 m from the Green Climate Fund, will create a corpus of $1 billion for ‘financing mitigation and adaptation projects’ (FMAP) of Medium and Small Enterprises (MSMEs).
- The board of the Green Climate Fund, which is an entity set up by the United Nations Framework Convention on Climate Change (UNFCCC), approved a $200 million loan and $15.6 million grant for capacity building to SIDBI.
- The development financial institution would bring in another $ 800 m – partly from its balance sheet and partly raised from the market – to form a fund of $ 1 billion.
- The fund will provide a ‘FMAP facility’ for MSMEs, for projects such as renewable energy, energy efficiency, energy storage and e-mobility.
About FMAP programme
- The FMAP facility would provide “nearly 10,000 concessional loans to MSMEs”, to promote low-emission, climate-resilient technologies.
- The FMAP programme is expected to result in a reduction in greenhouse gas emissions to the tune of 35.3 million tonnes. Adaptation activities would lead to “substantial water savings” and building resilience in vulnerable communities, “benefiting more than 10.8 million beneficiaries.
About Small Industries Development Bank of India (SIDBI)
- Founded – 2 April 1990
- Headquarters – Lucknow, Uttar Pradesh
- Chairman & MD – Siva S Ramann
BoB launches Generative AI-powered virtual relationship manager and credit line on UPI
- Bank of Baroda (BoB) has launched a range of digital and technology-led initiatives, including a Generative AI-powered virtual relationship manager (VRM), and credit line on UPI for enhancing payments and banking experience for customers.
- The GenAI-powered VRM, a first-of-its-kind initiative in the Indian banking sector, provides real-time information about the bank’s products and services while also capturing customer requirements for specific banking services.
- This VRM, which communicates in multiple languages and is accessible through video, audio, and chat interfaces, will fulfil everyday basic banking services, including account statements, cheque book requests, debit card requests, interest certificates, and more.
Recent Facilities Launched in Banking & Insurance Sector
- SBI launches Amrit Vrishti 444-Days Term Deposit With 7.25% Interest Rate
- Bajaj Finserv AMC launched Savings+ product for retail investors
- SBI introduces online loan facility against MF units via internet banking and YONO Ap
- PNB launches ‘Safety Ring’ to enhance security for internet, mobile banking
- Shriram Life Insurance Company launched a Deferred Annuity Plan aimed at providing a steady retirement income for customers.
- LIC launched ‘Jeevan Samarth’, an initiative aimed at transforming the agency ecosystem.
Appointment
Bibhuti Bhusan Nayak elected new president of ICMAI for 2024-25
- Bibhuti Bhusan Nayak has been elected unanimously as the new President of the Institute of Cost Accountants of India (ICMAI) for the 2024-25 period.
- He will succeed Ashwin Dalwadi, who was the president for the 2023-24 period.
- TCA Srinivasa Prasad has been elected as the vice president of the Institute of Cost Accountants of India for 2024-25.
About Institute of Cost Accountants of India (ICMAI)
- The Institute of Cost Accountants of India was set up as a statutory body on 28 May 1959 under the provisions of the Cost and Works Accountants Act, 1959.
- A statutory body is an institution set up under the provision of a law made by the Parliament or by a competent state legislature.
- The Institute of Cost Accountants of India comes under the Union Ministry of Corporate Affairs.
- The Institute of Cost Accountants of India is the regulator of Cost and Accounting Management in India.
- The Institute of Cost Accountants of India has four Regional Councils in Kolkata, Delhi, Mumbai and Chennai, 113 Chapters in India and 10 overseas Centers.
Kristen Michal nominated Estonian Prime Minister
- Kristen Michal was sworn in as the new Prime Minister of Estonia for the Estonian Reform Party (Eesti Reformierakond).
- The Estonian Parliament voted in favour of Michal, previously the Minister of Climate, to become the country’s new leader after he was nominated for the position by his party to replace outgoing Prime Minister Kaja Kallas.
- Estonian liberals retain the Prime Minister position as well as six ministerial roles. Yoko Alender, Member of the Estonian Parliament, is the new Minister of Climate and Erkki Keldo has become the Minister of Economic Affairs and Industry.
About Estonia
- Capital – Tallinn
- Currency – Euro
- Official language – Estonian
- President – Alar Karis
- Prime Minister – Kristen Michal
Sports
Nuno Borges beat Nadal to Lift Swedish Open Men’s Singles Trophy
- In Swedish Open Tennis, Nuno Borges of Portugal defeated Spaniard Rafael Nadal in the final, 6-3, 6-2, to win the men’s singles tennis title at Bastad in Sweden.
- It was Borges’s first ATP Tour title.
- He became the second Portuguese player in the Open Era to win a main tour singles title, after João Sousa. It was also Nadal’s first final since the 2022 French Open.
Scotland’s Charlie Cassell Sets ODI Record; Takes 7 Wickets for 21 against Oman
- In the ICC Men’s Cricket ODI World Cup League 2, Scotland fast bowler Charlie Cassell scripted history on his debut breaking an all-time ODI record by taking 7 wickets for 21 against Oman, in Dundee.
- Cassell broke the 2016 record of 6 for 16 of South African paceman Kagiso Rabada on his debut against Bangladesh.
- Apart from Rabada, West Indies pacer Fidel Edwards also had taken 6 for 22 on his ODI debut.
Andy Murray to retire from professional tennis after Paris Olympics
- Andy Murray from UK has said the tennis tournament in the Paris Olympics will be the last of his professional career.
- Murray, who became the first man to win two singles Gold medals at the Olympics.
- Andy Murray won the Olympic Gold in men’s singles tennis in 2012 and defended it in 2016. The 37-year-old also won a mixed doubles silver in London in 2012.
- Murray won two Wimbledon crowns in 2013 and 2016. The former World No. 1 tasted success on clay, winning the Roland Garros in 2016.
Recently Retired Players
- PR Sreejesh (India) – International Hockey
- James Anderson (England) – International Test Cricket
- Dinesh Karthik (India, RCB) – IPL
- Toni Kroos (Germany) – International Football ⚽
- Sunil Chhetri (India) – International Football ⚽
- Colin Munro (New Zealand) – International Cricket
Important day
23 July – National Broadcasting Day
- National Broadcasting Day is celebrated in India every year on July 23.
- It is a day to remember and appreciate the impact of radio as a medium of communication, entertainment, and education.
- Radio has played a significant role in connecting people across India, sharing news, music, and stories that have shaped the nation’s cultural and social landscape.
- The history of National Broadcasting Day dates back to July 23, 1927. On this day, the Indian Broadcasting Company (IBC) made its first radio broadcast from Bombay (now Mumbai).
- This event marked the start of organized radio broadcasting in India. The IBC was later taken over by the government and renamed All India Radio (AIR) in 1936. Since then, AIR has become one of the largest radio networks in the world, reaching millions of listeners across the country.
24 July – National Income Tax Day
- India celebrates the Income Tax Day, or Aaykar Divas, every year on July 24.
- This day commemorates the historical evolution of tax administration in India and the ongoing reforms that aim to enhance tax compliance and simplify the process for taxpayers.
- On this day, Income tax was first levied as a duty in India in 1860. The department celebrated this day for the first time in 2010 marking 150 years of the introduction of Income tax in India. This year marks the 165th occasion of National Income Tax Day.
- The history of National Income Tax Day dates back to 1860; it was first imposed by Sir James Wilson in 1860. The initial implementation laid the groundwork, it was the comprehensive Income Tax Act of 1992 that truly established a structured tax administration in the country.
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