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Daily Current Affairs 8th August 2024 Daily GK Update
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National News
Purandar Highlands exports India’s first GI-tagged fig juice to Poland
- Purandar Highlands Farmers Producer Company Ltd has achieved a significant milestone by exporting India’s first GI-tagged fig juice to Poland.
- This follows the successful export of India’s first commercial consignment of GI-tagged Purandar figs to Hong Kong in February 2023.
- Purandar Highlands has become the first company to export Indian fig juice to the European market and the first to export commercial quantities of Purandar figs to Hong Kong.
- The successful export to Poland and Hong Kong has generated interest in these products, indicating a promising global market for Indian figs and fig-based products.
About Poland
- Capital – Warsaw
- Currency – Zloty
- Official language – Polish
- Prime Minister – Donald Tusk
Gati Shakti Vishwavidyalaya in collaboration with Airbus begins its first executive training program for aviation sector
- Gati Shakti Vishwavidyalaya in collaboration with Airbus has started its first executive training program for the aviation sector in New Delhi.
- This three-day program, will be focused on Safety Management Systems for working professionals. The program attracts participants from leading airlines as well as representatives from Airbus and the Ministry of Civil Aviation.
- This course is also being attended by international professionals, including four participants from Nepal and four from Bhutan. The instructors for the program are leading experts from the industry.
India to host World Telecommunication Standardization Assembly 2024 in New Delhi
- India will host the World Telecommunication Standardization Assembly (WTSA) 2024 from October 15 to 24 at Bharat Mandapam in New Delhi.
- The event will be preceded by the Global Standards Symposium (GSS) on October 14, as announced by the Department of Telecommunications (DoT).
- The theme for GSS-24 is “Charting the Next Digital Wave: Emerging Technologies, Innovation, and International Standards.”
- Organized by the International Telecommunication Union (ITU), WTSA occurs every four years to “define the work program, working methods, and structure of study groups” for ITU’s Telecommunication Standardization Sector (ITU-T).
- The assembly is expected to bring together 1,800 to 2,000 delegates from 193 member countries, global standardization bodies, and the telecom/ICT industry.
About World Telecommunication Standardization Assembly
- Founded in 1865, the ITU is a specialized agency of the United Nations for Information and Communication Technologies (ICTs). It includes 193 member countries and over 900 private-sector entities and academic institutions.
- The ITU promotes international cooperation between governments and the private sector to address issues shaping the future of the ICT industry.
- India, a member of the ITU since 1869 and a member of the ITU Governing Council since 1952, was originally set to host WTSA-20.
Microsoft regains top spot as best employer to work for in India: Randstad
- Microsoft has emerged as India’s most ‘attractive employer brand,’ according to the findings of Randstad Employer Brand Research (REBR) 2024.
- Tata Consultancy Services climbed the rankings this year to emerge as the runner-up, followed by Amazon, which occupied the third spot.
- Drawing insights from 3,507 respondents in the country, the report reveals that work-life balance, equity, and attractive salary & benefits, are the three most important drivers for the Indian workforce when choosing an employer.
- Tata Power Company, which was the top brand last year, slipped to fourth rank this year. Another Tata brand, Tata Motors stood fifth. All the top five most attractive companies to work for received high ratings for their financial health and good reputation.
Banking and Financial
SBI approves Rs 25,000 crore fundraising plan via issue of Tier 1 and Tier 2 bonds
- The board of India’s largest public sector lender State Bank of India approved a proposal for raising funds of up to Rs 25,000 crore via the issue of Tier 1 and Tier 2 bonds.
- The bonds will be Basel-lll compliant and SBI plans to raise the amount in INR/USD.
- The fundraising plan was announced by SBI along with its April-June quarter earnings where the lender reported a standalone net profit of Rs 17,035 crore, up by 0.9% over Rs 16,884.29 crore reported in the year-ago period. It was higher than the Street’s estimates of Rs 16,786 crore.
- The interest earned during the reported quarter stood at Rs 1,11,526 crore, which was higher by 16% versus Rs 95,975 crore reported in the corresponding quarter of the last financial year.
- Interest expended by the bank in the April-June quarter stood at Rs 70,401 crore versus 57,041 crore a year ago. This translates into a 23% YoY uptick.
IFC, ADB, DEG consortium to invest $275 mn in Fourth Partner Energy
- Global investors International Finance Corporation (IFC), the Asian Development Bank (ADB), and Deutsche Investitions (DEG) have invested $275 million in Hyderabad-based renewable energy solutions platform Fourth Partner Energy Ltd (FPEL).
- The consortium’s investment will infuse capital to fund FPEL’s business expansion plans which include a target portfolio of 3.5 GW of renewable energy assets by 2026.
- FPEL has an installed base of 1.5 GW of green assets and is set to commission the first phase of its maiden 575 MW wind solar hybrid project under the ISTS (Inter State Transmission System) route, in Karnataka, later this quarter.
- World Bank’s International Finance Corporation (IFC) is leading the consortium with an investment of $ 125 million, while Asian Development Bank (ADB) is infusing $ 100 million and Germany’s Deutsche Investitions- und Entwicklungsgesellschaft (DEG) is at $ 50 million to complete this round of fundraising.
About Asian Development Bank (ADB)
- Founded – 19 December 1966
- Headquarters – Mandaluyong, Metro Manila, Philippines
- President – Masatsugu Asakawa
- Vice President – Ashok Lavasa
- Director of ADB for India – Mio Oka (replace Takeo Konishi)
- Executive Director – Vikas Sheel
- Adviser to the Executive Director – Smita Sarangi
- Member Countries – 68 (Niue)
Chola MS General Insurance forges strategic partnership with Mahindra Finance
- Chola MS General Insurance Company, a joint venture between the Murugappa Group and Mitsui Sumitomo Insurance Company Limited of Japan, has partnered with Mahindra Finance, one of India’s leading Non-Banking Finance Companies.
- This collaboration will provide motor and other non-life insurance solutions to over 10 million customers of Mahindra Finance.
- Leveraging Mahindra Finance’s extensive distribution network across India, Chola MS plans to enrich its general insurance offerings with customized digital solutions.
- These customer-centric solutions are designed to provide long-term financial protection to customers and their families. Both organizations are committed to delivering excellence through innovation and consistency catering to the diverse needs of the customers.
Recent MoUs Signed in Banking Sector
- Capital SFB and Edelweiss Life Insurance enter into bancassurance tie-up
- Nagaland govt, SBI General Insurance ink MoU on disaster risk management solution
- HDFC securities partners with Vested Finance to Offer Access to Global Investing for Indians and NRI
- IIT Madras Partners with IDBI Bank to Launch Cybersecurity Lab
- Tata Power Solar Systems partners with Bank of India for solar
- UGRO Capital, SIDBI ink co-lending partnership
Appointment
Government appoints Harish Dudani as Member in Central Electricity Regulatory Commission
- Harish Dudani has been administered Oath of Office and Secrecy by the Hon’ble Minister for Power as Member, Central Electricity Regulatory Commission (CERC).
- CERC was established by the Government of India under the provisions of the Electricity Regulatory Commissions Act, of 1998. CERC is the Central Commission for the Electricity Act, 2003.
- Which has repealed the ERC Act, of 1998. Harish Dudani held the post of Principal Judge, Family Court, in the High Court of Delhi. Before this, he held the charge of District Judge (Commercial Court), Additional Session Judge, and Special Judge (PC Act) CBI in the High Court of Delhi.
Recent Appointment
- COO of Instamart – Sairam Krishnamurthy
- President of the Academy of Motion Picture Arts and Sciences -Janet Yang
- Director of ICAR-Central Marine Fisheries Research Institute (CMFRI) – Grinson George
- First woman DG Medical Services (Army) – Lt Gen Sadhna Saxena Nair
- 2 New Members in CBDT – Ramesh Narain Parbat and Prabodh Seth
- Chairman of UPSC – Preeti Sudan (replace Manoj Soni)
Muhammad Yunus appointed head of Bangladesh’s interim government
- Nobel laureate Muhammad Yunus has been appointed as the head of Bangladesh’s interim government.
- Bangladesh President’s Press Secretary Joynal Abedin made the announcement.
- The decision to appoint Bangladesh’s interim government head was made during a meeting between President Shahabuddin and the coordinators of the Anti-Discrimination Student Movement.
- A day after Sheikh Hasina resigned as Prime Minister of Bangladesh and left the country, President Mohammed Shahabuddin announced the dissolution of the country’s parliament to make way for the formation of an interim administration.
About Bangladesh
- Capital– Dhaka
- Currency – Taka
- President – Mohammed Shahabuddin Chuppu
- Head of Interim Government – Muhammad Yunus
Amit Singh Negi appointed Additional Secretary in PM’s Office
- Senior IAS officer Amit Singh Negi has been appointed additional secretary in the PMO as part of a major top-level reshuffle effected by the Centre.
- A 1999-batch Indian Administrative Service (IAS) officer of the Uttarakhand cadre, Mr Negi is currently joint secretary in the Department of Expenditure under the Union Ministry of Finance.
- Samir Ashwin Vakil, a 1998-batch Indian Revenue Service (Income Tax) officer, has been appointed director in the Serious Fraud Investigation Office (SFIO) under the Union Ministry of Corporate Affairs for a tenure of five years.
- Maneesh Garg, Sanjay Kumar and Ajeet Kumar have been appointed deputy election commissioners in the Election Commission of India.
Other Appointments
- Additional secretary in PMO – Amit Singh Negi
- Director in Serious Fraud Investigation Office (SFIO) under Ministry of Corporate Affairs – Samir Ashwin Vakil
- Deputy Election Commissioners in ECI – Maneesh Garg, Sanjay Kumar and Ajeet Kumar
- Additional Secretary in Department of Personnel & Training (DoPT) – Manisha Saxena
- Director General in Tourism – Mugdha Sinha
- Additional Secretary in Home Ministry – Ashutosh Agnihotri
- Joint Secretary in the home ministry – Niraj Kumar Bansod
- Additional secretary in Union Ministry of Commerce & Industry – Ajay Bhadoo
- Additional Secretary in Union Ministry of Environment, Forest & Climate Change – Amandeep Garg
- Director general of Employees’ State Insurance Corporation – Ashok Kumar Singh
- CEO of Khadi and Village Industries Commission under Ministry of MSMEs – Vatsalya Saxena
- Additional secretary in NITI Aayog – Nidhi Chhibber
- Additional secretary in Department of Rural Development under Ministry of Rural Development – TK Anil Kumar
- MD of Small Farmers’ AgriBusiness Consortium under Dept. of Agriculture and Farmers’ Welfare – Dheeraj Sahu
- Additional secretary in the Department of Rural Development – Caralyn Khongwar Deshmukh
- Additional secretary in Ministry of Cooperation – Rabindra Kumar Agarwal
- Additional secretary and financial advisor in Ministry of Road Transport & Highways – Puneet Agarwal
- Additional secretary in Dept. of Telecommunications – N Gulzar
- MD of the Tribal Co-operative Marketing Development Federation of India under the Union Ministry of Tribal Affairs – Ashish Chatterjee
- Additional secretary in Dept. of Administrative Reforms and Public Grievances under the Union Ministry of Personnel, Public Grievances and Pensions- Puneet Yadav
- Joint secretary in the Cabinet Secretariat – Nila Mohanan
- Joint secretary in the Department of Defence – Pawan Kumar Sharma
- Joint secretary in the Department of Economic Affairs – Alok Tiwari
- Joint secretary in the Department of Military Affairs – Kumar Ravi Kant Singh
- CEO of the National eGovernance Division (NeGD) under the Union Ministry of Electronics & Information Technology – Nand Kumarum
- Joint secretaries in the Department of Health & Family Welfare – Latha Ganapathy and Nikhil Gajraj
- Joint secretary in the National Health Authority under the Department of Health & Family Welfare – V Kiran Gopal
- Secretary in the Capacity Building Commission – V Lalithalakshmi
- Additional registrar general in the office of the Registrar General and Census Commissioner – Sunil Kumar
- Director of Census Operations in Andhra Pradesh – P Bala Kiran
- Director of Census Operations in Arunachal Pradesh & Meghalaya – Pooja Pandey
- Director (Census Operations) in Uttar Pradesh – Sheetal Verma
- Joint secretary in the DoPT – J Ashok Kumar and Chhavi Bhardwaj
- Joint secretary in the Department of Petroleum & Natural Gas – Vinod Seshan
- Joint secretary in the Department of Revenue – Naval Kishore Ram
Challa Sreenivasulu Setty appointed Chairman of SBI
- The Appointments Committee of the Cabinet (ACC) has approved a proposal to appoint Challa Sreenivasulu Setty as Chairman of State Bank of India (SBI), the country’s largest commercial bank, for a three-year term.
- Setty will be succeeding current chairman Dinesh Khara, whose term ends on August 28 as he will be turning 63, the upper age limit for the SBI’s chairman position.
- Before this elevation as Chairman, Setty was the SBI Managing Director heading Global Markets & Technology.
- In June this year, the Financial Services Institutions Bureau (FSIB) recommended the name of Challa Sreenivasulu Setty for being appointed SBI Chairman.
About State Bank of India (SBI)
- Founded – 1 July 1955
- Headquarters – Mumbai, Maharashtra
- Chairman – Challa Sreenivasulu Setty; 27th (replace Dinesh Kumar Khara)
- Tagline – (1) Pure Banking Nothing Else
(2) With you all the way
(3) A bank of the common man
(4) The banker to every Indian
(5) The Nation banks on us
DBS Bank CEO Piyush Gupta to step down in Mar 2025; Tan Su Shan to take over
- Piyush Gupta, the Indian origin Chief Executive of Singapore’s largest bank DBS Group, will step down in March 2025.
- He will be succeeded by Tan Su Shan, who was appointed as deputy CEO, in addition to her current role as the group head of institutional banking.
- Gupta, who took the top position in DBS in 2009 after spending 27 years at Citigroup, was awarded the Public Service Star by Singapore’s President in 2020.
- During his tenure, DBS was recognized for its use of technology and named the “World’s Best Bank” by publications such as Euromoney and Global Finance.
About Development Bank of Singapore (DBS) Bank
- Founded – 1968
- Headquarters – Singapore
- Chairman – Peter Seah
- CEO – Piyush Gupta
- DBS Bank India’ CEO- Surojit Shome
Kailashnathan Sworn in as 25th Lieutenant Governor of Puducherry
- Kailashnathan took the oath as the 25th Lieutenant Governor of Puducherry.
- The oath was administered by the Acting Chief Justice of the Madras High Court, D. Krishnakumar.
- Kailashnathan, a retired Gujarat cadre IAS officer, is the first full-time Lt. Governor of Puducherry since Kiran Bedi left in 2021.
About Puducherry
- Formation- July 1, 1963
- Capital- Pondicherry
- Chief Minister- N. Rangasamy
Recent Appointment
- Governor of Jharkhand – Santosh Kumar Gangwar
- Governor of Chhattisgarh – Ramen Deka
- Governor of Rajasthan – Haribhau Kisanrao Bagde
- Governor of Telangana – Jishnu Dev Varma
- Governor of Punjab – Gulab Chand Kataria
- Governor of Maharashtra – CP Radhakrishnan
- Governor of Sikkim – OP Mathur
- Governor of Meghalaya – C H Vijayshankar
- Governor of Assam – Lakshman Prasad Acharya (also additional charge of Manipur)
Important day
7 August – National Handloom Day
- National Handloom Day is celebrated every year on 7 August to honour the nation’s handloom weavers and to shed spotlight on India’s handloom industry.
- Notably, this is the 10th Handloom Day in India. The first Handloom Day was celebrated in 2015 by Prime Minister Narendra Modi in Chennai. Now, it is celebrated across the country with a variety of events and activities.
- The origin of National Handloom Day has its roots back in the Swadeshi Movement of 1905.
- The objective of the movement was to boycott British goods in favour of Indian-made products. Notably, handloom textiles were one of the essential products that were widely promoted during this time. all States/UTs.
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