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Daily Content PDF NATIONAL AFFAIRS 4th Global RE-INVEST Renewable Energy Investors Meet & Expo held in Gujarat Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) 2024, the 4th edition of the flagship event by the Ministry of New and Renewable Energy(MNRE), was held at the Mahatma Mandir Convention and Exhibition Centre, Gandhinagar, Gujarat from 16th to 18th September 2024. The 3-day summit was inaugurated by Prime Minister(PM) Narendra Modi on 16th September 2024. Global RE-INVEST 2024 was organised in partnership with the Confederation of Indian Industry (CII). Significance: i.The summit honoured the contributors to India’s remarkable achievement of over 200 Gigawatt (GW) of installed non-fossil fuel capacity. ii.RE-Invest is a global platform bringing together key players in the renewable energy sector which include government officials, industry leaders, investors, researchers, and policymakers. iii.It will showcase the latest renewable energy technologies and solutions and will involve discussions about the future of energy, ongoing trends, technologies, and policies shaping the global renewable energy outlook. REC Signs MoUs to Fund Rs 1.12 Lakh Crore RE Projects REC Limited, formerly Rural Electrification Corporation Limited, has signed a Memorandum of Understandings (MoUs) with renewable energy (RE) developers to fund projects worth around Rs.1.12 lakh crore. Points to note: i.These MoUs involve solar-wind hybrid, round-the-clock (RTC) renewable power projects, firm and dispatchable renewable energy (FDRE) projects, floating solar plants, ultra-mega renewable energy parks, hydroelectric power projects, battery energy storage systems, pumped storage, hydropower, green ammonia and hydrogen, and solar cells and modules manufacturing, among others. ii.There are ongoing discussions for financing green energy corridors, wind turbine manufacturing and the electric vehicle ecosystem. iii.Hygenco Green Energies, a company focusing on green hydrogen, also signed an MoU with REC for funding of up to USD 280 million for Hygenco’s green ammonia project in Gopalpur, Odisha. The green hydrogen-focused company itself is going to invest about USD 2.5 billion towards its green hydrogen and green ammonia projects in India in the next few years. Hygenco had commissioned India’s first commercial green hydrogen plant at Hisar, Haryana in March 2024. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 13 Daily Content PDF iii. Gurugram(Haryana)-based Sunsure Energy signed an MoU with REC Ltd to finance debt of Rs 10,000 crore to support the development of 3 GW of solar, wind, hybrid, and battery energy storage. Torrent Power commits investment of Rs 64,000 crore in renewable energy projects Torrent Power Limited has promised an investment of Rs 64,000 crore for green or RE projects having employment potential for 26,000 people. i.Torrent Power has also submitted two ‘Shapath Patra’ to the MNRE and reaffirmed its commitment towards green and sustainable future. ii.The 1st ‘Shapath Patra’ involves achieving 10 GW of installed RE capacity by 2030, with an investment of Rs 57,000 crore. iii.As part of these commitments, Torrent Power signed an MoU with Government of Gujarat for execution of 5 GW solar, wind or solar-wind hybrid project at Dwarka District. iii.The 2nd ‘Shapath Patra’ involves the setting up of 1 lakh Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility worth Rs 7,200 crore. Vertical Solar Farms to be Introduced to Power Agriculture, Clean Energy Production AgriVijay, an agtech climate action social organization, Next2Sun Germany, and Wattkraft India signed an MoU to introduce an innovative vertical solar technology to generate clean energy and revolutionize the agricultural landscape by enabling continued farming on the same land. Points to note: i.The partnership aims to address the growing concerns over land usage in conventional solar installations, which often displace valuable agricultural land. ii.by leveraging Next2Sun’s innovative vertical bifacial Agri-PV systems, AgriVijay will enable dual land use. iii.The pilot projects, with a range of 100-kilowatt peak (kWp) to 500 kWp, are designed to showcase the effectiveness of vertical bifacial solar technology across different regions in India. India, Germany launches joint platform to boost global renewable energy investments India and Germany have introduced a joint platform known as ‘India-Germany Platform for Investments in Renewable Energies Worldwide’ under the joint Green and Sustainable Development Partnership (GSDP) for increasing investments in renewable energy in India and globally. This initiative will help in enhancing business opportunities, attract investments, support technology transfer, and drive innovation. The platform will spread the renewable energy capabilities worldwide to provide integrated, diversified, and resilient supply chains to reduce dependence on unilateral energy sources. India, Germany Concluded Development Policy Negotiations Successfully India and Germany have successfully concluded their development policy negotiations, committing their cooperation in key sectors such as renewable energy, urban development, mobility, and agroecology. The discussion was held by the Department for Economic Affairs (Indian Ministry of Finance) and the German Federal Ministry for Economic Cooperation and Development (BMZ). Key Points: i.The Indo-German cooperation is built upon the Partnership for Green and Sustainable Development established in 2022. ii.As part of the ongoing cooperation, Germany has planned to provide over 1 billion Euro as concessional loans and technical assistance in 2024 for projects in sectors such as renewable energy, mobility, sustainable agriculture, forest ecosystems, and vocational education. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 14 Daily Content PDF Key developments involve the construction of 7,700 kilometers(km) of modern transmission lines, German-financed metro projects in Mumbai, Surat, Ahmedabad, and Kochi, and supporting climate-resilient agricultural practices in India. iii.Apart from the above developments, India and Germany also launched a joint platform as a part of the cooperation for increasing investments in renewable energy both in India and globally. Gujarat Wins Several Awards at RE-INVEST 2024 During Global RE-INVEST 2024, Gujarat has won numerous awards for its renewable energy achievements. Gujarat was ranked among the top 3 in overall renewable energy capacity, solar power capacity and wind power capacity. Points to note: i.Gujarat topped the overall renewable energy capacity achieved and overall wind power capacity achieved categories. ii.Gujarat was ranked 2nd under overall solar power capacity achieved as Rajasthan claimed the top spot. iii.Other top ranked states under these categories were Rajasthan (bagged two awards), Tamil Nadu (two) and Karnataka (two), Himachal Pradesh and Uttarakhand one each under overall hydro power capacity achiever’s category. iv.Gujarat has received the highest achiever award with a capacity of 28,220 Megawatt (MW) in the field of renewable energy. Rajasthan secured the second position with overall solar power capacity with 22,031 MW. At present, Gujarat has a capacity of 11,822 MW in wind power and solar power with a capacity of 14,201 MW. v.Himachal Pradesh has been awarded the Highest Achiever State in Overall Hydropower Capacity at the Global Renewable Energy Investors Meet and Expo. Himachal aims to become a Green Energy State by March 31, 2026. A 32 MW Pekhubela solar power plant has been made operational in six months’ time and two more solar power projects, 10 MW in Kutlehar and 5 MW at Bhanjal are under completion. Gujarat Launched the ‘Mission 100 GW’ Gujarat Chief Minister (CM) Bhupendra Patel launched the ‘Mission 100 GW of renewable energy in Gujarat’ and released ‘Gujarat Energy Vision 2047’ during Global RE-INVEST 2024. The mission aims to install 100 GW of renewable energy by 2030 in Gujarat and will help in achieving the renewable energy targets of India. Additional info: Gujarat is the only state in India where four semiconductor plants are currently planned to be established Power Grid Corporation of India (PGCIL) and Gujarat government worth Rs 5000 crore Gujarat State Electricity Corporation Limited (GSEC) and Gujarat Urja Vikas Nigam Limited (GUVNL) worth Rs 59,000 crore Avada Energy and Gujarat Power Corporation Limited (GPCL) worth Rs 85,000 crore Juniper Green Energy and Gujarat Energy Development Agency (GEDA) worth Rs 30,000 crore. 4th Global RE-INVEST Drew Investment Commitments Worth Rs 32.45 lakh crore Union Minister Pralhad Joshi, MNRE, stated that the 4th Global RE-INVEST drew investment commitments worth Rs 32.45 lakh crore in the form of Shapath Patra by 2030. i.The developers have committed an additional 570 GW, manufacturers have committed additional manufacturing capacities of 340 GW in solar modules, 240 GW in solar cells, 22 GW in wind turbines and 10 GW in electrolysers. iii.Beyond this, banks and financial institutions have also cooperated for a greener and sustainable India. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 15 Daily Content PDF Union Minister Bhupender Yadav Addresses Plenary Session: On 18th September 2024, Union Minister Bhupender Yadav, Ministry of for Environment, Forest and Climate Change (MoEF&CC) addressed the Plenary Session on India’s Pathway to Net-Zero Emissions in RE-INVEST 2024. i.He highlighted that India’s per capita consumption remains low and has made remarkable progress in reducing carbon emissions. He also emphasized on the fact that India is the only G20 country to have achieved two out of three quantitative Nationally Determined Contributions (NDCs) targets of the Paris Agreement nine years ahead of schedule. ii.Moreover, the private sector will help in achieving the Net Zero ambition by 2070 by strengthening renewable grids, developing low carbon technology, and managing demand side issues. iii.A greater focus has been laid upon fuel switching, recycling, circular economy, promotion of green hydrogen technology and empowerment of the MSME sector. MoHFW Released National Health Accounts Estimates for India 2020-21 and 2021-22 On 25th September 2024, the Union Ministry of Health and Family Welfare (MoHFW) released the National Health Accounts (NHA) Estimates for India 2020-21 and 2021-22. These estimates are 8th and 9th editions of reports released annually by the MoHFW. As per these latest NHA estimates, the Out-of-Pocket Expenditure (OOPE) out of the Total Health Expenditure has decreased significantly from 64.2% (in 2013-14) to 39.4% (in 2021-22) which shows a positive indicator in the health sector. About NHA Estimates: i.NHA Estimates for India are prepared by National Health Systems Resource Centre (NHSRC) which was designated as National Health Accounts Technical Secretariat (NHATS) in August, 2014 by the MoHFW. ii.These estimates are prepared based on the globally accepted accounting framework of ‘A System of Health Accounts (SHA), 2011’ which facilitates inter-country comparisons, developed by World Health Organisation (WHO). iii.The report provides a systematic description of the financial flows of the health system of India by various sources, how healthcare is provided, and the nature of healthcare services that are used. Health Expenditure Estimates : i.The NHA estimates for 2021-22 show that the Government expenditure for healthcare is increasing steadily in the country which reflects the efforts of the Government of India (GoI) to increase public investments in the health sector. ii.As per the NHA, share of Government Health Expenditure (GHE) in the overall Gross Domestic Product (GDP) of the country has increased from 1.13% (in 2014-15) to 1.84% (in 2021-22). iii.Also, GHE in terms of the General Government Expenditure (GGE) has increased from 3.94% (in 2014-15) to 6.12% (in 2021-22). Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 16 Daily Content PDF iv.In per capita terms, GHE has increased 3 times from Rs 1,108 to Rs 3,169 between 2014-15 and 2021- 22. The NHA estimate reveals that the government spending on health between 2019-20 and 2020-21 has increased by 16.6%. While, government spending has increased exponentially by 37% between 2020-21 and 2021-22, which highlights the robust role played by the GoI in tackling COVID-19 pandemic. v.The share of GHE in the Total Health Expenditure (THE) of the country has increased from 29% (in 2014- 15) to 48% (in 2021-22). vi.The share of Social Security Expenditure (SSE) on healthcare, which includes government-funded health insurance, medical reimbursement to government employees, and social health insurance programs, in THE, has increased to 8.7% in 2021-22, up from 5.7% in 2014-15. Key Indicators of NHA Estimates for India for 2021-22: Indicators 2014-15 2021-22 Share of GHE in Total GDP of the Country 1.13% 1.84% The Share of GHE in THE 29% 48% The Share of GHE in GGE 3.94% 6.12% The share of SSE on healthcare, in THE 5.7% 8.7% The share of GHE in per capita Rs 1,108 Rs 3,169 Other Key Estimates : i.The THE in terms of per capita which indicates health expenditure per person in India at current prices has increased significantly by 87%, from Rs 3,826 (in 2014-15) to Rs 6,602 (in 2021-22). While, THE including both current and capital expenditures incurred by government and private sources, was estimated to be over Rs 9 lakh crore, which is 3.83% of GDP for 2021-22. ii.As per the NHA estimates, the share of GHE in THE has jumped by 68%, from 29% (in 2014-15) to 48% (in 2021-22). iii.The report highlighted that India’s current health expenditure which includes only recurrent expenditures for healthcare purposes, was nearly Rs 7.89 lakh crore. The contribution of the Union government and state governments in total current health expenditures was 15.94% and 21.77%, respectively. While, government hospitals and private hospitals contributed 18.99% and 26.96%, respectively of the current health expenditures. The share of households, including insurance contributions was the highest in total current health expenditure, which stood at nearly Rs 4 lakh crore, up 51% of current health expenditure. iv.Private Health Insurance expenditure, including the premiums households or employers pay is Rs 66,975 crore, which accounts 7.40% of the THE for 2021-22. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 17 Daily Content PDF Contribution of services in current health expenditure: Inpatient Curative care contributed 37.94% of the current health expenditure, followed by prescribed medicines (15.98%), outpatient curative care (15.30%), and preventive care (13.55%), among others. State-Wise Contribution in THE: i.Maharashtra, Uttar Pradesh (UP) and West Bengal (WB) were the top 3 states which have contributed maximum in the THE. ii.States that witnessed the highest OOPE with respect to the government expenditure were UP (64%), followed by Kerala (59%) and WB (58%). About Ministry of Health and Family Welfare(MoHFW): Union Minister– Jagat Prakash Nadda (Rajya Sabha – Gujarat) Union Minister of State (MoS)- Anupriya Patel(Lok Sabha constituency- Mirzapur, Uttar Pradesh, UP); Jadhav Prataprao Ganpatrao (Lok Sabha constituency- Buldhana, Maharashtra) Secretary of DoA&FW, Dr. Devesh Chaturvedi Chaired a Review Meeting of UN World Food Programme– CPAC On 26th September 2024, Dr. Devesh Chaturvedi, Secretary, Department of Agriculture and Farmers’ Welfare (DoA&FW) under the Ministry of Agriculture and Farmers’ Welfare (MoA&FW), chaired the 1st meeting of the Country Programme Advisory Committee (CPAC) to review the implementation of the Country Strategic Plan (CSP) 2023-2027 with representatives of the United Nations World Food Programme (UN WFP) in New Delhi, Delhi. Key Participants: Elizabeth Faure, the Country Director of WFP, the representatives and officers from Ministry of Women and Child Development (MoWCD); Department of School Education & Literacy (DoSE&L), Ministry of External Affairs (MEA), National Disaster Management Authority (NDMA), among others were present at the meeting. About CPAC: i.CPAC has been constituted under the chairperson Dr. Devesh Chaturvedi and its members include joint secretaries of concerned ministries and National Institution for Transforming India (NITI Aayog). The key function of CPAC is to coordinate and review the progress under CSP 2023-27. ii.It is mandatory for CPAC to meet at least once in year. MoU between DoA&FW and UN WFP: i.During the meeting, a Memorandum of Understanding (MoU) was signed between the DoA&FW and the UN WFP, aimed to address the national priorities in food security and nutrition through capacity building and technical support. ii.As per the MoU, the CSP 2023-27 focuses on 4 strategic outcomes which includes: more effective and efficient national food-based social protection systems; rising consumption of diverse, nutritious, and fortified foods; enhancing the social and financial mobility of women; and strengthening the adaptive capacity to build climate-resilient livelihoods and food systems. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 18 Daily Content PDF About World Food Programme (WFP): Executive Director(ED)- Cindy H. McCain Headquarters- Rome, Italy Established- 1961 INTERNATIONAL AFFAIRS India Ranked 3rd in Asia Power Index 2024; USA Topped According to the ‘Asia Power Index 2024 Edition‘ released by Lowy institute, based in Sydney, Australia, India is ranked 3rd with score of 39.1 out of 100 surpassing Japan amid strong post-COVID 19 economic growth. The 2024 index is topped by the United States of America (USA) with a score of 81.7, followed by China at 2nd place (72.7). Papua New Guinea, ranked last at 27th with a score of 4.2. India’s rank i.e. comprehensive power ranking rose by 1 in 2024, with a 2.8-point (+8%) score increase. This marks the first edition of the Asia Power Index where India has raised its power score, though still below 2018-2019 levels. About Asia Power Index: i.The Asia Power Index annually measures resources and influence to assess state power in Asia since 2018. The index consists of 8 measures of power, 30 thematic sub-measures and 131 indicators. ii.It ranks 27 countries and territories based on their resources and how they use them. The scope of the index covers as far west as Pakistan, as far north as Russia, and as far into the Pacific as Australia, New Zealand, and the USA. iii.The 2024 edition, spanning six years of data, is the most comprehensive assessment of power distribution in Asia to date. Top 5 on Asia Power Index 2024: Rank Country Score/100 1 USA 81.7 2 China 72.7 3 India 39.1 4 Japan 38.9 5 Australia 31.9 Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 19 Daily Content PDF Note: i.The countries with more than 70 points are regarded as superpowers. ii.While the countries with a score more than 10 are regarded as middle powers. iii.Countries with score lower than 10 are minor powers. India’s rank under 8 thematic measures: Indicators India’s rank Score Economic Capability 4 26.1 Military Capability 4 45.2 Resilience 5 56.5 Future Resources 3 55.9 Economic Relationships 10 17.5 Defence Networks 9 19 Diplomatic Influence 4 70.2 Cultural Influence 4 38.7 Key Points: i.India saw the greatest gains in future resources (+8.2) in 2024. ii.The largest drop was in defense networks (−2.5). iii.Improvements were made in resilience (+5.2), diplomatic influence (+4.5), economic capability (+4.2), economic relationships (+2.1), and military capability (+1.1). iv.Cultural influence remained unchanged. v.India’s lowest-ranked measure is economic relationships, as it is outside the regional economic integration agenda. vi.India’s score improved across resource measures in 2024, but it did not gain a ranking in any category. vii.It dropped one rank in economic relationships and defense networks to 10th and 9th, respectively. viii.India’s large population and Gross Domestic Product (GDP) growth solidify its position as the world’s third-largest economy in PPP (Purchasing Power Parity) terms. ix.Participation in dialogues and leadership in the Quad strengthen India’s role in regional security, despite being outside formal military alliances. Recent Related News: i.Uttarakhand became the first state in the world to launch a Gross Environmental Product (GEP) index to assess the overall development of the ecosystem. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 20 Daily Content PDF ii.The United Nations Educational, Scientific and Cultural Organization (UNESCO) announced the New World Soil Health Index at an International Conference on Soils in Agadir, Morocco to establish global standards for soil quality assessment. About Lowy Institute: Chairman of the Board– Sir Frank Lowy AC Headquarters– Sydney, Australia BANKING & FINANCE NIPL & Trinidad and Tobago Partners to Develop UPI-like Payments System On 27th September 2024, NPCI International Payments Limited (NIPL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), entered into a strategic partnership with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago to build a real-time digital payments system modeled after the Unified Payments Interface (UPI) of India. With this, Trinidad and Tobago became the first Caribbean nation to adopt UPI. Key Points: i.This agreement will enable Trinidad and Tobago to establish a real-time payment platform for both person-to-person (P2P) and person-to-merchant (P2M) transactions expanding digital payments and fostering financial inclusion. ii.This will also support Trinidad and Tobago to modernise its financial ecosystem. iii.The accessibility, affordability, and connectivity with domestic and international payment networks will be enhanced Note: i.At present, Indians can pay selected merchants in Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the United Arab Emirates (UAE). ii.In 2024, NIPL inked an agreement with the Central Bank of Peru and Bank of Namibia (BoN) to develop a UPI-like payment system. About NPCI International Payments Limited (NIPL): Chief Executive Officer(CEO)– Ritesh Shukla Headquarters– Mumbai, Maharashtra Incorporated– 2020 Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 21 Daily Content PDF PNB Introduces Multi-Currency World Travel Card for International Travelers Punjab National Bank (PNB) has launched the “PNB Multi-Currency World Travel Card (MCWTC)”, a prepaid foreign currency card, which allows users to load and manage multiple currencies on a single card. The card supports 6 major foreign currencies: United States Dollar (USD), Euro (EUR), British Pound Sterling (GBP), United Arab Emirates Dirham (AED), Canadian Dollar (CAD), and Singapore Dollar (SGD). About PNB MCWTC: Eligibility: Indian Nationals with valid Permanent Account Number(PAN) Cardholder and desirous of visiting/travelling abroad for any purpose as permitted by the Reserve Bank of India(RBI). Features: i.The card can be used across the globe except in India, Nepal and Bhutan. ii.The card may be issued against cash for an amount below Rs. 50,000. It is equipped with 3D Secure and Chip-and-Personal Identification Number (PIN)technology and offers real-time transaction alerts. iii.The card offers the option to lock in exchange rates at the time of loading helping travellers to avoid fluctuations in currency rates while abroad. iv.The card is accepted at Automated Teller Machines (ATMs), point-of-sale (POS) terminals, and for online transactions across the globe. It also support for contactless payments for convenience. v.The card also includes insurance coverage of up to Rs 3.50 lakh for theft or misuse. About Punjab National Bank (PNB): PNB commenced its operations on 12th April 1895 from Lahore and was nationalised on 19th July 1969. Managing Director (MD) and Chief Executive Officer (CEO)– Atul Kumar Goel Headquarters– New Delhi, Delhi Tagline– The Name You Can Bank Upon BOBCARD & RuPay partner to launch EMI feature on UPI payments BOBCARD Limited, a Non-Banking Financial Company (NBFC) and a wholly owned by Bank of Baroda (BoB), has partnered with RuPay to launch an Equated Monthly Installment (EMI) feature on Unified Payments Interface (UPI) payments, allowing users to convert their purchases into EMIs for a more convenient payment experience. i.Payments can be made via UPI at both online and offline merchants, with the option to convert transactions into EMIs at checkout. ii.Customers can apply for EMIs directly through their linked RuPay credit card on any UPI app, using their UPI PIN for consent. iii.Users can select the EMI option and instalment period at the time of payment and track ongoing EMIs through the UPI app. iv.The feature targets the festive season and aims to boost digital credit adoption, especially in Tier Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 22 Daily Content PDF 2 and Tier 3 cities. Note: Mumbai, Maharashtra based-BOBCARD Limited, formerly known as BOB Financial Solutions Limited, was established in 1994. AU SFB announces partnership with Kotak Life offering Life Insurance Solutions AU Small Finance Bank (AU SFB) has partnered with Kotak Mahindra Life Insurance Company Limited to offer life insurance solutions, expanding AU SFB’s product offerings and enhancing financial security for its customers. i.The partnership provides AU SFB customers access to Kotak Life’s comprehensive life insurance products, including term, retirement, savings, and investment plans. ii.The collaboration extends to both new and existing customers, including those from former Fincare SFB branches. iii.This partnership will strengthen AU SFB’s presence in southern India by leveraging Kotak Life’s portfolio. India Extends USD 50 Million Budgetary Support to Maldives for another Year India has extended the budgetary support to the Government of Maldives in the form of rollover worth USD 50 million Treasury Bills (T-bills) for another year, at the request of Maldivian government. This extension has been granted by the State Bank of India (SBI), India’s largest Public Sector Bank (PSB), which has subscribed the USD 50 million T-bills issued by the Ministry of Finance, Maldives for another year. This marks the 2nd rollover granted by the Government of India in 2024, after the 1st rollover of USD 50 million T-bills was granted in May 2024. Note: Maldives is a key partner country of India’s ‘Neighbourhood First Policy’ and Security and Growth for All in the Region (SAGAR) vision. SEBI Allows MFs to Sell Credit Default Swaps to Boost Corporate Bond Liquidity On 20th September 2024, the Securities and Exchange Board of India (SEBI) has now allowed Mutual Funds (MFs) to sell Credit Default Swaps (CDSs), a move which aimed to boost liquidity in the corporate bond market. This announcement was made by SEBI in circular issued in exercise of powers given under Section 11 (1) of the SEBI Act, 1992, read with the provisions of regulation 43 (1) and regulation 77 of SEBI (Mutual Funds) Regulations, 1996. Earlier, MFs could only engage in CDS transactions as buyers, basically to hedge credit risks on corporate bonds within Fixed Maturity Plans (FMPS) lasting for over one year. Key Changes: i.The MF schemes are allowed to sell CDS only within the scope of investing in synthetic debt securities backed by cash, Government Securities (G-Secs), or Treasury Bills (T-bills). ii.As per new guidelines, the total exposure for a scheme including, both buying and selling CDSs should not exceed 10% the scheme’s assets. CDS will be valued based on actual traded levels or credit spreads. iii.SEBI has directed the MFs to disclose details of their CDS transactions like: the rating of CDS seller and deals with sponsor group companies. Note: CDS is a credit derivative that provides protection to buyer against potential default and helps to manage and transfer credit risk. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 23 Daily Content PDF ENVIRONMENT Exostoma sentiyonoae: New Catfish Species Discovered from Nagaland Scientists have discovered a new species of glyptosternine catfish, Exostoma sentiyonoae, has been discovered in the Dzuleke River, a tributary of the Barak River in Nagaland. The details of the discovery is published in journal Zootaxa, a peer-reviewed scientific mega journal for animal taxonomists. The new species was discovered by Dr. Limatemjen, Professor and Dean of Sciences at Kohima Science College, Nagaland, and Bungdon Shangningam a scientist from the Zoological Survey of India (ZSI) in Kolkata, West Bengal (WB). Dr Limatemjen said he named the species in honor of his daughter, combining “Senti” from the Ao Naga language and “Yono” from the Angami Naga language. About Exostoma sentiyonoae: i.It measures 75.8 mm and is cataloged as holotype ZSI FF 9871. ii.Unique characteristics include an adipose fin attached to the upper caudal-fin rays, tubercles on the dorsal-fin spine, a slender head, a large gap between dorsal and adipose fins, small eyes, and 41 vertebrae. iii.It is differentiated from related species E. berdmorei and E. gaoligongense based on fin length, distance between fins, and eye size. iv.This is the fourth species of Exostoma described from the Barak drainage and the first from the Dzuleke River. Note: Dr. Limatemjen’s previous work includes discoveries like Chordodes combiaerolatus (2015), Beatogordius (2017), Platylomia kohimanensis (2021), and Pterocryptis barakensis (2023), highlighting his contributions to taxonomy. India Records 1st Sighting of Rare Reef Fish off Andhra Pradesh Coast A four-year faunal survey by the ZSI along Andhra Pradesh’s (AP) coast led to the first-ever Indian sighting of Entomacrodus thalassinus, a rare reef fish. It was previously recorded in regions like Japan, French Polynesia, Australia, Sri Lanka, Papua New Guinea, Philippines, New Caledonia, Seychelles, Madagascar. Key Points: i.Entomacrodus thalassinus was found among intertidal rocky reefs near Visakhapatnam Fishing Harbour during low tides. ii.ZSI scientist J.S. Yogesh Kumar, along with support from Livein Adventures, led the research. iii.The survey also discovered 13 new sea slugs, 11 undocumented fish species, and 2 new brachyuran crabs along the Andhra Pradesh coast. iv.A medium-sized whale shark was spotted near Santhapalli Rocks off Visakhapatnam. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 24 Daily Content PDF OBITUARY Italian Striker, Salvatore ‘Toto’ Schillaci passed away Italian Striker Salvatore Schillaci, famously known as ‘Toto’ Schillaci, who was top scorer at 1990 International Federation of Association Football (FIFA) World Cup, has died at the age of 59 in Palermo, Italy. He was born in Palermo in 1964. i.He joined Juventus FC in 1989 and went on to win the Coppa Italia and Union of European Football Associations (UEFA Cup) with Turin club in 1989-90. ii.He scored six goals during the 1990 World Cup and received the FIFA Golden Boot award and the FIFA Golden Ball award. iii.He played for various football clubs (FCs) during the course of his football career like: Messina, Juventus, Internazionale and Japanese club ‘Jublio Iwata’. He retired from all formats of Football in 1999. BOOKS & AUTHORS Sukhvinder Singh Sukhu Released two books,”Jalandhar Peeth Ka Rahsya”, “Mushtarka Khata” authored by Ajay Prashar On 19th September 2024, Sukhvinder Singh Sukhu, Chief Minister (CM) of Himachal Pradesh (HP) released two books, “Jalandhar Peeth Ka Rahsya” and “Mushtarka Khata”. Both these books are authored by Ajay Parashar, Director, Information and Public Relations (IPR) of North-East Council. i.The book “Jalandhar Peeth Ka Rahsya” provides an in-depth insight of the historical and religious significance of various peeths of HP. It was published by Bodhi Prakashan. ii.The book “Mushtarka Khata”, is a compilation of 16 short stories that shows the various aspects of everyday life. It was published by the Information and Public Relations North East Council(NEC). IMPORTANT DAYS World Tourism Day 2024 – September 27 The United Nations (UN)’s World Tourism Day (WTD) is annually observed across the world on 27th September to create awareness about the importance of tourism. The day also promotes tourism as a driver of economic growth, inclusive development and environmental sustainability and offers leadership. 27th September 2024 marks the observance of the 44th World Tourism Day. The annual observance of WTD is led by the United Nations World Tourism Organization (UN WTO or UN Tourism). Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 25 Daily Content PDF NATIONAL AFFAIRS PM Modi Laid Foundation & Dedicated Projects worth Rs.11,200 Crore Projects in Maharashtra On 29th September 2024, Prime Minister (PM) Narendra Modi virtually laid the foundation stone and commenced various projects worth Rs.11,200 crore in Maharashtra. Details of the projects: Pune Metro: i.PM Modi inaugurated the Pune Metro section (from District Court to Swargate) marking the completion of the Pune Metro Rail Project (Phase-1). This underground section was constructed at a cost of Rs 1,810 crore. The foundation stone for the Pune Metro was laid in 2016. ii.PM Modi also laid the foundation stone for Swargate-Katraj Extension of Pune Metro Phase-1. This will be developed at a cost of Rs 2,955 crore. This southern extension of around 5.46 km is completely underground with 3 stations namely Market Yard, Padmavati and Katraj. Bidkin Industrial Area (BIA) PM Modi also dedicated to the nation Bidkin Industrial Area (BIA), a transformative project covering 7,855 acres under the National Industrial Corridor Development Program (NICDP) of the government of India (GoI). It is situated 20 kms south of Chhatrapati Sambhajinagar in Maharashtra. This will be a important economic hub in the Marathwada region. The GoI approved this project with an overall cost of Rs 6,400 crore for development in 3 phases. The project was developed under the Delhi Mumbai Industrial Corridor. Solapur Airport: PM Modi inaugurated the Solapur Airport which will improve connectivity, making Solapur more accessible to tourists, business travelers and investors. The existing terminal Building of Solapur has been reconstructed to serve around 4.1 lakh passengers annually. Memorial for Krantijyoti Savitribai Phule’s First Girls’ School: PM Modi also laid the foundation stone for the Memorial for Krantijyoti Savitribai Phule’s First Girls’ School at Bhidewada. The memorial will serve as a tribute to the social reform movement and inspire future generations. The Savitribai Phule Memorial will include a skill development centre, a library, and other essential facilities. About Maharashtra Chief Minister (CM)– Eknath Shinde Governor– C. P. Radhakrishnan Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 12 Daily Content PDF Airport– Akola Airport; Aurangabad Airport UNESCO Heritage Sites– Ajanta Cave; Ellora Caves MoS Prof. S.P. Singh Baghel Inaugurated National Conference on PESA Act in New Delhi On 26th September 2024, Union Minister of State (MoS) Prof. S.P. Singh Baghel, Ministry of Panchayati Raj (MoPR) inaugurated and addressed National Conference on the Panchayats (Extension to Scheduled Areas) Act, 1996 (PESA) at Dr. Ambedkar International Central in New Delhi, Delhi. This Conference marks a significant step forward in the Government of India (GoI)’s commitment to enhancing governance and development in Scheduled Areas (SAs) across India. The conference witnessed the launch of PESA – GPDP (Gram Panchayat Development Plan) portal and seven action-oriented Specialized Training Modules aimed to enhance the effectiveness of GPDPs and training initiatives. Key Participants: Over 500 participants from 10 PESA states, including State Panchayati Raj Ministers, senior officials from Central and State Departments, representatives from all 3-tiers of the Panchayati Raj systems and representatives from Non-Government Organisations (NGOs) participated in the conference. About 7 Comprehensive Training Modules: i.These action-oriented training modules are developed under the PESA Act, 1996. ii.These modules focus on critical areas including Prevention of Land Alienation, Strengthening Gram Sabha, Control Over Money Lending, Customary Mode of Dispute Resolution, Intoxication, Minor Forest Produce, and Minor Minerals. iii.These modules aim to strengthen PESA Gram Sabhas by facilitating guidance on their delineated powers, which will enable them to generate and manage their Own Source Revenue (OSR), and to preserve their socio-cultural norms and traditions. Highlights of National Conference on PESA: i.The conference witnessed the discussion on transformative steps if GoI such as Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) Yojana, and Pradhan Mantri Janjatiya Unnat Gram Abhiyan(PMJUGA). ii.The MoPR also introduced initiatives like the Functional Activity Mapping Dashboard for monitoring State actions on the 29 Subjects outlined in the 11th Schedule of the Constitution, the PESA Training Manual for Vth Schedule Areas, and the PESA–GPDP Portal to facilitate village-based development planning. iv.Panel discussions on key topics like “PESA Gram Sabha: Visualising the Way Forward”; “Strengthening the PESA Economies: Forests Rights Act (FRA), Minor Forest Produce (MFP), and Minor Minerals” and “Empowering the Last Mile: Saturation of PESA Training Modules and Effective IEC” were also held during the conference. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 13 Daily Content PDF About PM JANMAN Yojana: i.In 2023, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi had approved the PM JANMAN Yojana. ii.The Centre Government has allocated budgetary allocation of Rs 24,104 crore (Central Share:Rs 15,336 crore and state share: Rs 8,768 crore) from Financial Year 2023-24 (FY24) to FY26 under the Development Action Plan for Scheduled Tribes (DAPST). iii.The key beneficiaries under PM JANMAN yojana are Particularly Vulnerable Tribal Groups (PVTGs), comprising 75 communities located in 18 states and the Union Territory (UT) of Andaman and Nicobar Islands. iv.The scheme has classified 11 important areas/ critical interventions across 9 line ministries. About Pradhan Mantri Janjatiya Unnat Gram Abhiyan(PM-JUGA) i.On 18th September 2024, the Union Cabinet approved PM JUGA with budgetary allocation of Rs 79,156 crore, of which Centre government will provide Rs 56,333 crore and state governments will provide Rs 22, 823 crore. ii.The main objective of the scheme is to improve the socio-economic condition of tribal communities, by adopting saturation coverage for tribal families in tribal-majority villages and aspirational districts. iii.In Union Budget for FY25, the GoI announced that the scheme will cover around 63,000 villages, comprising 549 districts and 2,740 blocks spread across all tribal majority villages across 30 states/UTs, which will benefit over 5 crore tribal people. About Ministry of Panchayati Raj (MoPR): Union Minister- Rajiv Ranjan Singh alias Lalan Singh (Constituency- Munger, Bihar) Minister of State (MoS) – S.P. Singh Baghel (Constituency- Agra, Uttar Pradesh, UP) INTERNATIONAL AFFAIRS India ranked 39th in Global Innovation Index 2024; Switzerland Tops for 14th Consecutive Year According to the World Intellectual Property Organization’s (WIPO) report titled 17th edition of the ‘Global Innovation Index (GII – 2024)– Unlocking the Promise of Social Entrepreneurship’, India secured the 39th position out of a total of 133 economies with a score of 38.3. In GII 2023, India’s rank was 40th with a score of 38.1. The index has been topped by Switzerland for the 14th consecutive year. It is followed by Sweden at 2nd rank and the United States of America (USA) at 3rd. About Global Innovation Index(GII): The GII has been co-published annually since 2007 by the World Intellectual Property Organization (WIPO), INSEAD( Paris, France), Cornell University( New York, the United States of America, USA). i.It ranks the world economies according to their innovation capabilities on the basis of 80 indicators. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 14 Daily Content PDF ii.It uses 7 criteria: Institutions, Human Capital and Research, Infrastructure, Market Sophistication, Business Sophistication, Knowledge and Technology Outputs, and Creative Outputs. iii.The GII has two sub-indices: the Innovation Input Sub-Index(5 pillars) and the Innovation Output Sub- Index( 2 pillars). iv.It serves as a key resource for policymakers and business leaders, tracking global innovation trends to foster human ingenuity and tackle challenges like climate change. Highlights of GII 2024: i.China reached the 11th position and remains the only middle- income economy in the GII top 30. ii.India, the Republic of Moldova and Vietnam are all innovation overperformers for 14 years in a row. iii.Saudi Arabia, Qatar, Brazil, Indonesia, Mauritius and Pakistan have climbed most in the GII (in order of their ranking). iv.Indonesia, Pakistan and Uzbekistan maintain their overperformer status for a third year and Brazil for a fourth consecutive year. v.Europe still hosts the highest number of innovation leaders among the top 25 – 15 in total, with seven among the top 10. vi.China, India, Indonesia, Iran, the Philippines, Turkey, Vietnam, and Morocco are the middle-income countries in the top 70 of the GII that have made the most significant progress in the rankings since 2013. Top 5 Countries in GII 2024: Ranking Country Score 1 Switzerland 67.5 2 Sweden 64.5 3 USA 62.4 4 Singapore 61.2 5 United Kingdom (UK) 61.0 39 India 38.3 The Lowest ranked economies are Angola, Niger, and Mali at 133rd, 132nd, and 131st positions respectively. India’s Scorecard: Indicators Score Rank Institutions 51.5 54 Human Capital 34.8 51 Infrastructure 39 72 Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 15 Daily Content PDF Market Sophistication 52.3 23 Business Sophistication 28.1 58 Knowledge and Technology 38.8 22 Outputs Creative Outputs 32.1 43 Key Points: i.India remains the top innovation economy in the Central and Southern Asian region. ii.India ranks 1st in lower-middle-income group, and outperformed innovation for the 14th consecutive year. iii.India also ranked 4th in the World Intellectual Property Organization (WIPO) Science & Technology (S&T) Cluster Ranking. Mumbai,Maharashtra(Ranked 56th), Delhi(63rd), Bengaluru, Karnataka(82nd), and Chennai, Tamil Nadu(84th) are listed among the World’s Top 100 S&T clusters. It is topped by Tokyo– Yokohama (Japan). iv.India is 7th globally in intangible asset intensity and India’s unicorn companies also secure the country the 8th rank globally. v.India improved its rank and score in Infrastructure and Creative Outputs compared to GII 2023 but declined in Human Capital & Research, Market Sophistication, and Business Sophistication indicators. vi.India’s score under the Institutions parameter dropped from 53.9 to 51.5, but the rank improved slightly from 56 to 54. vii.Under Knowledge and Technology Outputs, India’s rank stayed at 22, though the score decreased from 39.7 to 38.8. viii.India’s rise in the GII highlights its progress and potential as a global innovation hub. Initiatives like Start-Up India, Digital India, and the Atal Innovation Mission(AIM) have promoted entrepreneurship, research, and technological advancement. Recent Related News: i.Discipline Science and Processes (DSP) Mutual Fund has launched India’s first-ever Nifty Top 10 Equal Weight Index Fund and its corresponding Exchange Traded Funds (ETFs) with the aim to provide investors with exposure to the top 10 companies listed on the Nifty Index, with each stock receiving equal weight in the portfolio. ii.According to the Brand Finance’s Food & Drink 2024 report, Anand Milk Union Limited (AMUL) has emerged as the world’s strongest food and dairy brand with an AAA+ rating for the 4th consecutive year. The brand value of AMUL has increased by 11% to USD 3.3 billion, with a Brand Strength Index (BSI) score of 91 out of 100. About World Intellectual Property Organization (WIPO): It is the global forum for Intellectual Property (IP) services, policy, information and cooperation with 193 member states (as of October 1, 2024). Director General– Daren Tang Headquarters– Geneva, Switzerland Establishment– 1967 Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 16 Daily Content PDF India elected to the steering committee of the GlobE Network On 26th September 2024, India was elected to the 15-member GlobE Steering Committee of the Global Operational Network of Anti-Corruption Law Enforcement Authorities (GlobE Network) during the 5th plenary meeting and the 8th Steering Committee meeting of the GlobE Network in Beijing, China. India’s election to the steering committee will allow it to actively contribute to global efforts in combating corruption and facilitating asset recovery. Note: Two high-level principles for combating corruption were adopted during India’s G-20 Presidency in 2023, which detailed leveraging of the GloBE Network. About GlobE Network: i.The GloBE Network was officially launched on June 3, 2021, during a special event at the UN General Assembly Special Session against Corruption (UNGASS). It includes 121 member countries and 219 member authorities. The Ministry of Home Affairs (MHA) serves as the Central Authority for GlobE Network in India, while the Central Bureau of Investigation (CBI), Ministry of Personnel, Pension & Public Grievances(MoPP&P) and Enforcement Directorate (ED), Ministry of Finance(MoF) representing India as member authorities. ii.The GlobE Network is an initiative launched under the G20 framework to address international corruption and financial crime. India has been a supporter of this initiative since 2020. It is supported by the United Nations Office against Drugs and Crime (UNODC). iii.It has one chair, one vice-chair and 13 members in the Steering Committee for providing leadership to the organisation. iv.It has emerged as a unique platform where agencies from across the world share best practices, criminal intelligence, develop strategies, and support in the common cause of combating corruption. BANKING & FINANCE SEBI Amended Delisting Regulations; Introduced Fixed Price Process for Voluntary Delisting On 25th September 2024, the Securities and Exchange Board of India (SEBI) has amended the Delisting of Equity Shares Regulations, 2024 which has now allowed companies to delist shares through a fixed price process as an alternative to the Reverse Book Building (RRB) process. This will help in facilitating ease of doing business for listed firms. These amendments are introduced by SEBI in exercise of powers given by section 31 read with section 21A of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and section 30, sub- section (1) of section 11 and sub-section (2) of section 11A of the SEBI Act, 1992 (15 of 1992). These new regulations are now known as the SEBI (Delisting of Equity Shares) (Amendment) Regulations, 2024. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 17 Daily Content PDF Key Changes: i.As per the new framework, promoters can offer to buy back all publicly held shares at a price that is at least 15% higher than the “fair price” of the stock. The new framework will be applicable to only those companies whose shares are frequently traded. ii.The new framework has specified that in case the acquirer has proposed delisting through a fixed price process, the acquirer will provide a fixed delisting price which will be at minimum 15% more than the floor price calculated in terms of regulation 19A of these regulation. iii.As per new regulations, the floor price cannot be lower than the highest paid in acquisitions made during the last 26 weeks preceding the reference date or any other criteria including volume-weighted average price paid by an acquirer in the 52 weeks preceding the reference date and adjusted book value. iv.SEBI has reduced the limit for delisting success under the Reverse Book Building (RBB) process from 90% to 75% of public shareholder participation, provided that minimum 50% of public shareholding has been tendered. v.The new framework has specified that investment holding companies (holdcos) are required to have at least 75% of its fair value comprising direct investments in equity shares of other listed companies. This fair value will be decided through a joint report by two independent valuers. SEBI has directed that the shares of the holdcos which get delisted will be prohibited to seek relisting for a period of 3 years from the date of delisting. Note: The new fixed price process is estimated to save Rs 200 crore over the 5 years due to lower operational expenses. Key definitions: i.Fixed delisting price is the price offered by an acquirer for delisting shares ii.Floor price is the minimum price in delisting proposals About Securities and Exchange Board of India (SEBI): SEBI is the apex regulatory body for securities and commodity market in India. It was initially established as non-statutory body in April 1988. Later, SEBI was accorded the status of statutory body through SEBI Act, 1992 on 30th January, 1992. Chairman- Madhabi Puri Buch Headquarters– Mumbai, Maharashtra Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 18 Daily Content PDF IDBI Bank Launches OTS scheme for retail NPA borrowers to Boost Recovery IDBI Bank has launched the ‘Sugam Rinn Bhugtan Yojana (SUGAM Scheme)‘, a one-time settlement (OTS)/Negotiated Settlement scheme aimed at recovering non-performing retail loans. The scheme is available to borrowers with outstanding principal between Rs 10 lakh and Rs 10 crore, offering relaxed terms for loans classified as Non-Performing Assets (NPAs) as of March 31, 2021, and continuing through August 31, 2024. The scheme runs from 2nd September 2024 to 25th March 2025. Key Points: i.The scheme provides distressed borrowers a chance to settle dues and avoid legal complications. ii.It addresses long-pending cases by facilitating recovery from retail NPAs. iii.Borrowers must pay at least 10% of the settlement amount by 31st December 2024, with the balance due within 90 days of the Letter of Approval (LOA) without interest. iv.Alternatively, the balance can be paid by March 25, 2025, with an interest rate based on the 1-year MCLR as of August 31, 2024, plus 2% simple interest beyond 90 days from the LOA. v.All payments must be completed by March 25, 2025, even if fewer than 90 days remain from the LOA date. vi.Borrowers ineligible for the OTS include those with vendor bill discounting, vendor finance, corporate guarantees, or cases under the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code (IBC). About IDBI bank: Chief Executive Officer (CEO)– Rakesh Sharma Headquarters– Mumbai Maharashtra Tagline– Banking For All Establishment– 1964 MMRDA Secured Rs 31,673.79 Crore Loan from PFC to Fast Track Mumbai’s 9 Infrastructure Projects The Mumbai Metropolitan Region Development Authority (MMRDA) has secured a loan worth Rs 31,673.79 crores from the Power Finance Corporation (PFC) under the Ministry of Power (MoP) to fast track the development of 9 key infrastructure projects in the Mumbai Metropolitan Region(MMR). This is a significant step towards the implementation of key initiatives aimed at enhancing connectivity, boosting economic growth, and elevating the overall quality of life for residents MMR. Detail of the Loan Agreement: i.As per the agreement, 80% of the total projects costs will be covered by the loan, while, the remaining 20% will be financed from government grants and MMRDA contributions. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 19 Daily Content PDF ii.The major amount of sanctioned loan i.e. Rs 15,071 crores will be allocated specifically for the Thane- Borivali Twin Tunnel Project, an initiative aimed at drastically reducing travel time between these two bustling cities. iii.The remaining Rs 16,602.79 crores will be used for the development of 8 other major infrastructure projects, which include: the construction of the Thane Coastal Road (Phase I), the extension of the Eastern Freeway from Ghatkopar to Thane, and the development of an elevated road from from National Highway No. 4(NH4) to Katai Naka. iv.Other key projects covered under this loan agreement are: the construction of several creek bridges and access roads to connect Thane, Kharbao, Bhiwandi, and surrounding areas, as well as the development of elevated roads along the Eastern Express Highway and Kalyan Murbad Road. About Mumbai Metropolitan Region Development Authority (MMRDA): Metropolitan Commissioner- Dr. Sanjay Mukherjee Headquarters- Mumbai, Maharashtra About Power Finance Corporation Limited (PFC): Chairman and Managing Director (CMD) – Parminder Chopra Headquarters- New Delhi, Delhi Established- 1986 ECONOMY & BUSINESS BEL set to enter space sector, signs agreement with Canada’s Reliasat Bharat Electronics Limited (BEL), a Navratna Public Sector Undertaking (PSU) under the Ministry of Defence(MoD), signed a Teaming Agreement with Reliasat Inc. Canada to collaborate in the area of space products, at BEL’s Corporate Office in Bengaluru, Karnataka. The agreement was signed by Mr K V Suresh Kumar, Director (Marketing), and Gurvinder Chohan, Chief Executive Officer (CEO) of Reliasat Inc. The agreement aims to leverage the capabilities of both the companies in the domain of space. SCIENCE & TECHNOLOGY ISRO, IN-SPACe & NSIL sign 5 TTA with Non-Governmental Entities Indian Space Research Organisation (ISRO), Indian National Space Promotion and Authorization Centre (IN- SPACe), and NewSpace India Limited (NSIL) have signed 5 Technology Transfer Agreements (TTAs) with Non-Governmental Entities (NGEs). With this, the total number of agreements signed post space reforms becomes 75. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 20 Daily Content PDF i.The TTAs were signed with Anabond Limited, Salvo Industries Private Limited, Micropack Pvt. Ltd., and Astra Microwave Products Ltd at IN-SPACe in Bengaluru, Karnataka. ii.These agreements are part of the government initiative to grant private players access to ISRO’s advanced technologies, fostering innovation and commercial applications across various sectors. iii.ISRO, IN-SPACe and NSIL will enable greater participation, foster new ventures, and strengthen India’s position in the global space ecosystem. China Successfully Launched 6 new satellites On 20th September 2024, China successfully launched six new satellites – “Jilin-1 Kuanfu 02B (01-06)” into space from the Taiyuan Satellite Launch Center in north China’s Shanxi Province. Jilin-1 Kuanfu (wideband) 02B satellites numbers 1-6 were launched aboard a Long March-2D carrier rocket. This marked the 536th flight mission of the Long March carrier rocket series This satellite features a high resolution and wide-field-of-view telephoto range imager for high- resolution land observation. SPORTS Dwayne Bravo Retires From All Forms of Cricket; Joins KKR as Mentor West Indies cricketer Dwayne Bravo(40-year-old), two-time Men’s Twenty20 (T20) World Cup winner, has announced his retirement from all forms of cricket. He retired from international cricket in 2021. He has completed a 21-year journey in the field of cricket. His final appearance was cut short by an injury during the 2024 Caribbean Premier League (CPL). Dwayne Bravo joins KKR as Mentor; Replaced Gautam Gambhir Kolkata Knight Riders (KKR), a professional franchise cricket team of the Indian Premier League (IPL), has announced Dwayne Bravo as KKR’s new mentor succeeding Gautam Gambhir. Gautam Gambhir, who led the KKR since since 2014, was appointed as the head coach of India national cricket team for 3 years (till 2027).. Bravo has previously worked as the bowling coach of the Chennai Super Kings (CSK). He will also be a part of KKR’s other franchises globally, including CPL, Major League Cricket (MLC), and the International League Twenty20 (ILT20). About Dwayne Bravo i.Dwayne John Bravo made his One Day International (ODI) debut in 2004 and T20I debut in 2006. He served as the limited-overs captain of West Indies from 2013 to 2014. ii.In domestic cricket, Bravo has played for his native Trinidad and Tobago since 2002. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 21 Daily Content PDF iii.He was a key member of the West Indies team that won the International Cricket Council (ICC) Champions Trophy 2004 and the ICC World T20 World Cup in 2012 and 2016. iv.He has played 582 T20 matches, taken 631 wickets, and scored nearly 7,000 runs. He has more championship wins than any other cricketer. IPL Carrer: i. As a part of the IPL team CSK, he has also won four IPL titles in different roles – 2011, 2018, 2021 as a player and 2023 as a coach. He has also played for other IPL teams such as Mumbai Indians (2008, 2009, 2010) and Gujarat Lions (2016). ii..He is the third-highest wicket-taker in IPL history with 183 wickets and also the first player to win two purple caps in the tournament, in 2013 and 2015. OBITUARY Oscar Winning British Actor & Harry Porter Star Dame Maggie Smith Passed Away British actor Dame Maggie Smith, a double Oscar winner who is well known for her role as Professor Minerva McGonagall in the Harry Potter film series, passed away at the age of 89 in London, the United Kingdom (UK). She was born as ‘Margaret Natalie Smith’ on 28th December 1934 in Ilford, Essex, UK. About Dame Maggie Smith: i.Maggie Smith made her acting debut in 1952 in an uncredited role in the British drama ‘Child in the House’. ii.She made her professional debut in 1956 at the Oxford Playhouse, playing Viola in Shakespeare’s “Twelfth Night”. iii.She was made a Dame Commander of the British Empire, the equivalent of a knight, by the late Queen Elizabeth II in 1990. Noted Works and Awards: i.She won the Academy Awards (Oscars) for Best Actress for “The Prime of Miss Jean Brodie” (1969) and Best Supporting Actress for “California Suite” (1978) ii.She has also won 3 Golden Globe awards which includes Best Actress – Motion Picture Comedy or Musical for “California Suite”; Best Supporting Actress – Motion Picture for “A Room with a View” (1986) and Best Supporting Actress – Television for “Downton Abbey”. iii.She won the 5 The British Academy of Film and Television Arts (BAFTA) awards which includes Best Actress for “The Prime of Miss Jean Brodie”and “A Private Function” (1984); Best Actress in a Leading Role Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 22 Daily Content PDF for “A Room with a View” and “The Lonely Passion of Judith Hearne” (1988) and Best Actress in a Supporting Role for “Tea with Mussolini” (1999). BOOKS & AUTHORS Arundhati Roy’s first memoir ‘Mother Mary Comes to Me’ to release in September 2025 Renowned Indian Author and 1997 Booker Prize winner Arundhati Roy, is set to publish her first memoir titled “Mother Mary Comes to Me” in September 2025. The book will be published by Penguin Random House. The book offers an intimate account of how she became the person and the writer she is. The book was inspired by the death of her mother and women’s rights activist Mary Roy in September 2022. The book will be simultaneously published in the United Kingdom (UK) (Hamish Hamilton), the United States of America (USA) & Canada (Scribner), Germany (Fischer), France (Gallimard), Italy (Guanda), Spain (Alfaguara/PRH), the Netherlands (Park Uitgevers), Sweden (Bromberg), Finland (Otava) and Norway (Pax). Note: She received the Booker Prize for The God of Small Things in 1997. Her other noted works include ‘The Ministry of Utmost Happiness’; ‘The End of Imagination’; ‘The Doctor and The Saint’ and ‘The Algebra of Infinite Justice’. IMPORTANT DAYS World Contraception Day 2024- September 26 World Contraception Day is annually observed across the world on 26th September to improve awareness of all contraceptive methods available and enable young people to make informed choices on their sexual and reproductive health. 26th September 2024 marks the observance of the 18th World Contraception Day. Theme: The theme for World Contraception Day 2024 is “A Choice for all. Freedom to plan, power to choose.” The theme emphasises that every individual must be guaranteed the freedom to plan their family and to protect their reproductive health. Background: i.World Contraception Day was established by the 10 International Family Planning Organizations to highlight the significance of contraceptive measures as informed choices in family planning. ii.The first-ever World Contraception Day was observed on 26th September 2007. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 23 Daily Content PDF NATIONAL AFFAIRS 3rd World Food India Organised by MoFPI in New Delhi: 19 -22 September 2024 The 3rd edition of World Food India (WFI 2024), the biennial mega food event, organised by The Ministry of Food Processing Industries(MoFPI), was held from 19th to 22nd September 2024, in Bharat Mandapam, New Delhi, Delhi. The event was jointly inaugurated by Union Minister Pralhad Joshi, Ministry of Consumer Affairs, Food & Public Distribution and New & Renewable Energy, Chirag Paswan, Minister of Food Processing Industries and Ravneet Singh Bittu, Minister of State, Food Processing Industries & Railways. The event aims to integrate innovation, technology, and sustainability in the food processing sector. World Food India 2024, organised under the theme ‘Processing for Prosperity’, showcased the advancements in food processing technologies, investment opportunities, and India’s growth in the food processing sector. Note: The first edition of World Food India was held in 2017 in Vigyan Bhawan, New Delhi. The event was not organised during the COVID-19 pandemic. World Food India 2024: i.The World Food India 2024 witnessed participation from over 90 countries, 26 Indian States and Union Territories, and 18 Central Ministries and allied government bodies. ii.Over 1557 exhibitors, 20 country pavilions, 809 buyers from 108 countries and 2390 foreign delegates attended the event. 13 State Ministers and 4 Central Ministers; 16 international delegations, including six Ministerial delegations took part in the event. iii.The event spanned across a vast area of 70,000 square meters across nine exhibition halls. iv. Japan participated as the Partner Country while Iran and Vietnam participated as the Focus Countries. Focus pillars: The event was based on 5 main focus pillars: Food Irradiation: Ensuring Safety and Extending Shelf Life. Plant-based Proteins: Innovations and Impact. Minimum Waste, Maximum Value. Sustainable Packaging in Food Processing Industries. Ensuring Food Safety for All from Farm to Fork. Highlights: i.The event witnessed the inauguration of food processing units at 67 locations under the Production Linked Incentive Scheme for Food Processing Industry (PLISFPI) and Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) schemes with total investments of Rs 5,135 crores. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 12 Daily Content PDF ii.Credit linked support was provided to 25,000 beneficiaries for micro projects worth Rs 2,351 crores under the Pradhan Mantri Formalisation of Micro food processing Enterprises (PMFME) scheme and Rs 245 crores seed capital sanctioned to 70,000 SHG members under the PMFME scheme. iii.Over 40 knowledge sessions, including thematic discussions, and state and country-specific conferences were conducted during the event. Industry-led panel discussions with over 100 Chief Experience Officers (CXOs) of the global agri-food companies were also held. The event exhibited over 100 One District One Product items. MoS Prof. S.P. Singh Baghel launches new products developed by start-ups During World Food India 2024, Minister of State(MoS) Prof. S.P. Singh Baghel, Ministry of Fisheries, Animal Husbandry & Dairying (MoFAH&D) launched new products developed by a few startups. Key Points i.The Department exhibited major schemes, programs, new initiatives and innovative technologies in the livestock and dairy sector. ii.The pavilion also featured 25 stalls, including the National Dairy Development Board, Start-ups, and Companies working in Animal Husbandry and Dairy sector. iii.The department also organized a knowledge session titled “Entrepreneurship and Youth Development in the Livestock Sector” to explore innovative strategies for integrating youth into the livestock sector, available entrepreneurial opportunities and discuss challenges in livestock management. NIFTEM-K signed 19 MoUs, completed 3 technology transfers, and launched 2 products During World Food India 2024, the National Institute of Food Technology, Entrepreneurship and Management (NIFTEM)-Kundli, Haryana signed 19 MoUs, completed 3 technology transfers and launched 2 products. Sarathi, the Internet of Things (IoT)-based hybrid dryer, biodegradable packaging films, and rapid detection kits is one of the main attractions. About Sarathi: i.NIFTEM’s ‘Sarathi’ (Solar Assisted Refrigeration Transportation with Hybrid Control and Intelligence) is a system designed to help store and transport fruits and vegetables at different temperatures safely. ii.The monitoring of temperature, humidity, carbon dioxide and ethylene can be done remotely through a mobile app. The system maintains temperatures of 0-4°C and 8-12°C. If the vehicle is off and 220V power is unavailable, solar power can be used for air circulation. iii.The IoT (Internet of Things)-based hybrid dryer is a unique device that can dry food products in 4- 5 hours using two methods. iv.It makes use of infrared and refractance window drying technology. The temperature and humidity can be remotely monitored, and with the help of a smart energy meter, the temperature and power consumption can be fully controlled through a mobile app. 2nd Edition of Global Food Regulators Summit hosted by FSSAI Union Minister Jagat Prakash Nadda, Ministry of Health and Family Welfare(MoHFW), inaugurated the 2nd edition of the Global Food Regulators Summit (GFRS 2024) held from 20th to 21st September 2024 in New Delhi, Delhi. The Summit was organized by the Food Safety and Standards Authority of India (FSSAI) under the aegis of the MoHFW, alongside the World Food India 2024. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 13 Daily Content PDF Aim: To establish a global platform for food regulators to exchange their ideas on strengthening food safety systems and regulatory frameworks throughout the food value chain. Note: On 17th September 2024, Union Minister JP Nadda unveiled the logo and brochures of the GFRS 2024 at Nirman Bhavan, New Delhi. About the Summit: i.Stakeholders from international organisations like the World Health Organization (WHO), World Trade Organization (WTO), Food and Agriculture Organization of the United Nations (FAO), Codex Alimentarius Commission(CAC), the European Food Safety Authority(EFSA) and Joint Institute for Food Safety and Applied Nutrition(JIFSAN), participated at the GFRS 2024. Delegates from more than 70 countries participated in the summit Highlights: i.The event witnessed the introduction of the Food Import Rejection Alerts (FIRA), an online portal designed to inform the public and related food safety authorities about food import rejections at Indian borders. It will also serve as an important database for tracking rejected food products and for further strengthening the risk management system. ii.The summit also launched a new website for the Food Import Clearance System 2.0 (FICS 2.0), an advanced version of the Food Import Clearance System for faster processing and transparency offering an online solution with new features, automation, and integration with other relevant portals. iii.A millet recipe show ‘Flavours of Shree Anna – Sehat aur Swaad Ke Sang’ was also launched as a 13- episode series on Doordarshan, aimed at promoting millet-based recipes. iv. The 6th State Food Safety Index (SFSI 2024), an annual report evaluating the food safety performance of Indian states and union territories was also released during the event. Kerala, Tamil Nadu(TN), Jammu & Kashmir(J&K), Gujarat and Nagaland have topped the 2024 index. MoS Anupriya Patel Addressed the Regional Conclave: Minister of State(MoS) Anupriya Patel, MoH&FW, addressed the Regional Conclave on “Enhancing Regional Collaboration & Harmonization in Standard Setting Process” the event. Purpose: To enhance regional collaboration and harmonisation in food safety and standard-setting processes within Asia. i.The conclave offered a platform to discuss and address the issues like emerging markets, emerging food products, standardization procedures, quality assurance and the methodologies. ii.MoS Anupriya Patel highlighted the importance of standards to be developed for areas like aquaculture, processed foods and organic farming while addressing new technologies like bio-technology and sustainable farming. FSSAI sign MoU with Brazil’s Ministry of Agriculture and Livestock in the area of food safety The Food Safety and Standards Authority of India (FSSAI) signed a Memorandum of Understanding (MoU) with the Ministry of Agriculture and Livestock (MAPA) of Brazil under the umbrella of Global Food Regulators Summit, 2024, at Bharat Mandapam, New Delhi on 21st September 2024. The MoU involves cooperation to improve food safety through joint projects and technical collaboration. India and Bhutan Deepen Cooperation on Food Safety and Regulatory Standards The Food Safety and Standards Authority of India (FSSAI) under the Ministry of Health and Family Welfare entered into an agreement with the Bhutan Food and Drug Authority (BFDA) under the aegis of the Global Food Regulators Summit. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 14 Daily Content PDF This agreement aims to enhance food safety, aligning regulatory frameworks, simplifying the Food Import Procedure, enhancing technical collaboration and develop trade between the two countries. The agreement will acknowledge the official control exercised by BFDA over food business operators (FBOs) by the FSSAI. About Ministry of Food Processing Industries (MoFPI): Union Minister – Chirag Paswan (Constituency- Hajipur, Bihar) Minister of State (MoS) – Ravneet Singh Bittu (Rajya Sabha- Rajasthan) Make in India Celebrates 10 Years: A Decade of Transformational Growth On 25th September 2024, “Make in India”, the flagship programme of the Government of India (GoI), completed a decade (10 years) of empowering India to become a global manufacturing hub. It has played a crucial role in boosting domestic manufacturing, fostering innovation, enhancing skill development, and facilitating foreign investment. Prime Minister (PM) Narendra Modi launched the “Make in India” initiative on 25th September, 2014 at Vigyan Bhawan in New Delhi, Delhi. It is being implemented by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry (MoC&I). Note: Under Make in India 2.0, it focuses on 27 sectors including, 15 sectors under the manufacturing sectors, which is coordinated by DPIIT, MoCI and 12 sectors under the service sector, which is coordinated by Department of Commerce, MoC&I. Key Progress under Make in India initiative: FDI Reforms: Foreign Direct Investment (FDI) Reforms have played a pivotal role in promoting India’s industrial growth. Since 2014, India’s FDI inflow has increased exponentially by 119%, from USD 304 billion (2004-14) to USD 667.4 billion (2014-24). This investment inflow spans across 31 states and 57 sectors, promoting growth across diverse industries. Currently, most sectors, except some strategically important sectors, are open for 100% FDI under the automatic route. FDI equity inflows into the manufacturing sector have increased by 69% over the last decade (2014-24), from USD 97.7 billion (2004-14) to USD 165.1 billion (2014-24). PLI Scheme: The Production Linked Incentive (PLI) scheme was launched in 2020 across 14 key manufacturing sectors, with budget allocation of Rs 1.97 lakh crores. The scheme aims to create 60 lakh new jobs and an additional production of 30 lakh crore during the next 5 years. Since 2020, the PLI schemes have resulted in Rs 1.32 lakh crore (USD 16 billion) in investments and given a significant boost in the manufacturing sector of Rs 10.90 lakh crore (USD 130 billion) as of June 2024. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 15 Daily Content PDF So far, more than 8.5 lakh jobs have been created directly or indirectly due to this initiative. Exports & Employment: India’s merchandise exports have breached the mark of USD 437 billion in Financial Year 2023-24 (FY24). Exports have increased, with an additional Rs 4 lakh crore generated due to the PLI schemes and also employment in the manufacturing sector increased from 57 million (in 2022-23) to 64.4 million (in 2017- 18). Ease of Doing Business: Over the last decade, India has made significant improvement in the ease of doing business, which is evident from the fact that India has improved its ranking from 142nd (in 2014) to 63rd (in 2019) in the World Bank’s Doing Business Report. Moreover, more than 42,000 compliances have been reduced and 3,800 provisions decriminalized. Also, the Government of India (GoI) has introduced certain key reforms such as the Insolvency and Bankruptcy Code (IBC), 2016; the Goods and Services Tax Act, 2017 and the Jan Vishwas (Amendment of Provisions) Act, 2023. Such reforms have been instrumental in making India a global business hub. Key Initiatives: Semiconductor Ecosystem Development: In 2021, the Union Cabinet chaired by PM Narendra Modi had approved the Semicon India Program, with the budget outlay of Rs 76,000 crore. This initiative aims to provide a boost to semiconductor and display manufacturing by facilitating capital support and fostering technological collaborations. NSWS: The National Single Window System (NSWS) was launched in September 2021 as a single digital platform for approvals and clearances. The platform has simplified investor experience by integrating clearances from 32 ministries/ departments and 29 states/ Union Territories (UTs) facilitating rapid approvals. PM GatiShakti: PM GatiShakti National Master Plan (NMP), a strategic initiative of Government of India (GoI) launched on 13th October, 2021, aimed at achieving Aatmanirbhar Bharat and a USD 5 trillion economy by 2025 through the creation of multimodal and last-mile connectivity infrastructure. The scheme aims to promote holistic planning and coordination among 36 Ministries/Departments, integrating progress, and synchronizing project implementation. The scheme is a transformative approach driven by 7 sectors, for economic growth and sustainable development: Railways, Roads, Ports, Waterways, Airports, Mass Transport, and Logistics Infrastructure. National Logistics Policy: The National Logistics Policy (NLP) was launched on 17th September, 2022 and was introduced to compliment the PM Gatishakti NMP by focusing on improving the soft infrastructure of the logistics sector in India. It aims to promote economic growth and competitiveness through an integrated, efficient and sustainable logistics network by leveraging advancing technology, enhanced processes, and skilled manpower. The key targets of the scheme include reducing logistics costs, improving India’s Logistics Performance Index ranking to among the top 25 countries by 2030, and developing a data-driven decision support system. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 16 Daily Content PDF Industrial Corridors & Infrastructure: Under the National Industrial Corridor Development Programme (NICDP), 11 industrial corridors have seen the approval of 12 new projects with an estimated investment of Rs 28,602 crore. These corridors enhance India’s competitiveness by providing world-class infrastructure. ODOP initiative: The One-District-One-Product (ODOP) aims to facilitate the promotion and production of indigenous products from every district in India. So far, the initiative has fostered local economic development, with Unity Malls being set up in 27 states across the country, to provide platforms for these unique products. Startup India initiative: It was launched on 16th January, 2016, has introduced various programs aimed at supporting entrepreneurs, building a robust start ecosystem. As of 25th September 2024, India emerged as the 3rd largest ecosystem in the world with over 1.48 lakh DPIIT recognised startups, which have created more than 15.5 lakh direct jobs. Key Achievements under Make in India: i.Vande Bharat trains, India’s 1st indigenous semi-high speed trains, introduced under ‘Make in India’ initiative. At present, there are 102 Vande Bharat train services (51 trains) are operational across Indian Railways. ii.India has achieved major milestones in defence production, for instance, the launch of Indian Naval Ship (INS) Vikrant, India’s 1st domestically made aircraft carrier. In FY24, India’s defence production increased to Rs 1.27 lakh crore, with exports reaching more than 90 countries. iii.The electronics sector in India has witnessed rapid growth, reaching USD 155 billion in FY23. Production has increased from USD 48 billion (in FY17) to USD 101(in FY23), attributed mainly by mobile phones, which now account 43% of total electronics production in India. India is the 2nd largest manufacturer of mobile phones in the world and has significantly reduced its dependence on smartphone imports as now 99% of smartphones are manufacturing domestically. iv.India registered merchandise exports worth USD 437.06 billion in FY24, which reflects India’s emerging role in global trade. v.The textile industry has generated 14.5 crore job opportunities across the country. MoC&I Introduced BRAP 2024 to Strengthen Make in India Initiative On 30th September 2024, the MoC&I introduced the 7th Business Reforms Action Plan (BRAP 2024) to further strengthen the Make in India initiative. It aims to establish a seamless business regulatory framework across the country, enhancing the Ease of Doing Business (EoDB). The new initiative will be led by the DPIIT under the MoC&I and will introduce next-generation reforms to address the evolving needs of both businesses and citizens. About BRAP 2024: i.It is alignment with key GoI initiatives such as Reducing Compliance Burden (RCB) and Decriminalisation and also merging elements from the World Bank’s B-READY program. ii.It will introduce an innovative assessment methodology that uses evidence and feed-back based approaches to create a more comprehensive and dynamic regulatory environment. It aims to reduce approval time, integrate online service delivery, and initiatives like NSWS and PM Gati Shakti to make the regulatory environment more transparent, efficient, and dynamic. iii.It will cover various critical sectors like: labor, environment, taxes, land administration, utility permits, inspection and construction,Information and Communications Technology (ICT) adoption and process reengineering through the Time and Document Study (TDS) to ensure robust and more efficient government-to-business service delivery. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 17 Daily Content PDF Background: i.It was initially launched in 2014-15 and since then, 6 editions of BRAP have successfully reshaped the business landscape of India, exhibiting the spirit of competitive federalism. ii.It has emphasized on transparent service delivery, which ensures that both businesses and citizens have access to clear information on procedures, fees and timelines. About Ministry of Commerce and Industry (MoC&I): Union Minister- Piyush Goyal (Constituency- Mumbai North, Maharashtra) Minister of State (MoS)- Jitin Prasada (Constituency- Pilibhit, Uttar Pradesh, UP) MoHFW and ADB host the Climate & Health Solutions India Conclave with Strategic Insights for Future Action On 27th September 2024, Climate and Health Solutions (CHS) India Conclave, which was organised by the Ministry of Health & Family Welfare (MoHFW), in collaboration with the Asian Development Bank (ADB), held in New Delhi(Delhi). The 2-day conclave focused on the important issue of climate change and public health in India, by bringing together policymakers, experts, and stakeholders to develop actionable strategies for the health sector. The concluding day of the conclave hosted a series of insightful roundtables, which included in- depth discussions from participants on critical issues such as: Non-Communicable Diseases (NCDs), Mental Health, Nutrition, Climate-Ready Healthcare Human Resources, the development of Climate-Resilient and Responsive Health Systems and Infrastructure, among others. Key Dignitaries: Apurva Chandra, Secretary, MoHFW; LS Changsan, Additional Secretary, Public Health, MoHFW; Ayako Inagaki, Senior Director, Human and Social Development Sector Office and Dr. Dinesh Arora, Principal Health Specialist, Health Practice Team from ADB were present at the event. Key Highlights: i.Roundtable on “Climate Resilient and Responsive Health Systems and Infrastructure”: This round table was attended by over 330 participants, and was chaired by representatives from 19 states and Union Territories (UTs), including Andhra Pradesh (AP), Assam, Gujarat, Kerala, and Tamil Nadu (TN). The session highlighted the urgent need for adaptive infrastructure capable of tolerating the increasing frequency of extreme weather events. ii.Roundtable on “NCDs, Nutrition and Mental Health”: During the session, Dr. Cherian Varghese discussed the Kerala floods and how climate change is affecting the social determinants of NCDs, particularly livelihoods, access to health care, among others. iii.Roundtable on “Blended Finance for Climate-Health Bold Bets”: During the session, Jaya Singh, Policy and Programme Lead for the Asia Pacific region at Foreign, Commonwealth, & Development Office, the United Kingdom (UK), emphasized the government’s role in establishing regulations and safeguards for private sector investors in climate and health. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 18 Daily Content PDF The session also demonstrated innovations on the conclave sub-thematic areas, such as a Climate Risk Observatory Tool for heat and health mapping and management, Pluss Technologies, Blackfrog Technologies and Redwings for climate resilient health infrastructure and the work of Artificial Intelligence & Robotics Technology Park (ARTPARK), Indian Institute of Science (IISC) Bengaluru, Karnataka for climate and health Early Warning Systems (EWS). About Asian Development Bank(ADB): President– Masatsugu Asakawa(Japan) Headquarters–Manila, The Philippines Members Nations– 68(49 members nations are from Asia-Pacific region) Established–1966 PM Modi Launches IFSC Single Window System Developed By DEV IT On 16th September 2024, Prime Minister(PM) Narendra Modi launched the ‘Single Window IT (SWIT)’ platform developed by Dev Information Technology Limited (DEV IT) under the guidance of the International Financial Services Centres Authority (IFSCA) during the event held in Ahmedabad, Gujarat. This state-of-the-art online platform aims to simplify bureaucratic procedures and enhance transparency for entities setting up operations in the IFSCs. About SWIT: i.The System brings together different Government Agencies & Regulators on a single digital platform, including Department of Commerce under Ministry of Commerce & Industry, Department of Revenue under Ministry of Finance, Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI) and Insurance Regulatory and Development Authority of India (IRDAI). ii.SWIT System enables applicants to submit applications, obtain approvals, and fulfil approval related regulatory requirements through digital means in a simple, seamless and secure manner. iii.With the launch of SWIT System, applicants can now apply for license/ registration from IFSCA, under the relevant IFSCA Regulations and Frameworks, through the SWIT Platform. iv.It has been created to provide a one-stop mechanism for the applicant entities to obtain all approvals required for setting up business operations in IFSC. About Dev Information Technology Limited (DEV IT): DEV IT specialises in digital transformation services, managed IT services, cloud solutions, and custom software development tailored to the business. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 19 Daily Content PDF Founder & Chairman– Pranav Pandya Headquarters– Ahmedabad, Gujarat Established– 1997 BEL Secures MCA Approval to Set Up JV with Israel Aerospace Industries Bharat Electronics Ltd (BEL) has received approval from the Ministry of Corporate Affairs (MCA) to establish a Joint Venture (JV) named “BEL IAI AeroSystems Private Limited” in collaboration with Israel Aerospace Industries Limited (IAI), Israel. BEL holds a 40% stake in the JV, while IAI owns the remaining 60%. The JV will operate both in India and Israel. The new entity marks a strategic development in BEL’s aerospace and defense sector. Key Points: i.This new JV will provide repair and maintenance services for the Medium-Range Surface to Air Missile (MRSAM) system used by India’s defense forces, therefore, act as a Single Point of Contact (SPOC) for MRSAM product support. ii.The venture does not involve related party transactions with BEL’s promoters, but it will be considered a related party to BEL once established. iii.Further regulatory approvals are required from the Ministry of Defence (MoD) (India) and the Committee of Ministries for Social & Economic Affairs (Israel). About Bharat Electronics Ltd (BEL): BEL is a Navratna Public Sector Undertakings (PSU) under the Ministry of Defence (MoD) Chairman & Managing Director (CMD)– Manoj Jain Headquarters– Bengaluru, Karnataka Establishment– 1954 MoP Unveils CSIRT–POWER Facility to Protect India’s Power Sector Against Cyber Threats Union Minister Manohar Lal Khattar, Ministry of Power(MoP), inaugurated the Computer Security Incident Response Team – POWER (CSIRT–POWER) facility at Northern Regional Power Committee, Shaheed Jeet Singh Marg, Qutab Institutional Area in New Delhi, Delhi. CSIRT-POWER was developed since the existing sub-sectoral Computer Emergency Response Teams (CERTs) lack legal mandate, resources, and skilled professionals to address cybersecurity incidents effectively. i.CSIRT-POWER was developed to protect India’s power infrastructure from cyber threats. ii.The creation of CSIRT-Power was initiated as part of the 100-day initiatives of the MoP in collaboration with Indian Computer Emergency Response Team(CERT-In), following the National Cyber Security Policy, 2013. iii.It is equipped with advanced infrastructure, cutting-edge cybersecurity tools, and key resources. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 20 Daily Content PDF iv.Key objectives: To collect, analyze, and share information regarding power sector-specific cyber threats. To promote sector-specific best practices, Standard Operating Procedures (SOPs) and security policies. INTERNATIONAL AFFAIRS India & Nepal Signed 12 MoUs for High Impact Community Development Projects in Nepal On 27th September 2024, India and Nepal signed 12 Memorandum of Understanding (MoUs) for High Impact Community Development Projects (HICDPs) in Nepal covering key sectors such as education, health, agriculture, drinking water and culture for strengthening bilateral ties. The projects will be supported by grant assistance of NRs (Nepalese Rupees) 474 million (approximately Rs 47.4 crore) by the Government of India (GoI) Signatories: The MoUs were signed by the Embassy of India in Kathmandu, the Ministry of Federal Affairs and General Administration of Nepal, and various Project Implementing Agencies of the Government of Nepal. About the 12 HICDPs: i.The 12 HICDPs include the construction of School buildings in Okhaldhunga, Dailekh, Saptari, Morang, Chitwan, and Sunsari. Arun Multipurpose Foundation Building in Bhojpur. Water supply project in Solukhumbu. Building for the Agriculture Promotion Centre in Bajura. Health post-birthing centre in Dhading. Operation theatre building for the Rapti Eye Hospital in Dang. ii.These projects will be executed by local authorities under the Government of Nepal. iii.These will improve the educational infrastructure, healthcare services, water supply, agricultural storage, and cultural amenities for local communities. Points to note: i.India has undertaken a total of 563 high-impact community development projects in Nepal since 2003. ii.490 of these projects have been completed and the remaining projects are in various stages of completion. iii.These HICDPs highlight India’s commitment towards strengthening Nepal’s infrastructure and contributing to the Nepal’s overall development. Report Errors in the PDF - [email protected] Copyright 2014-2024 @ AffairsCloud.com 21 Daily Content PDF About Nepal President- Ram Chandra Poudel Prime Minister– Khadga Prasad Sharma Oli Capital- Kathmandu Currency– Nepalese Rupee ECONOMY & BUSINESS Fossil Fuel Dominance in Electricity Generation to end by 2030: RBI report The Reserve Bank of India (RBI), in its latest report, forecasts that the dominance of fossil fuels in India’s electricity generation will end by 2030, with renewable energy expected to surpass 50% of global electricity generation. This transition is seen as critical for

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