02nd August, 2024

1. MoD and UPEIDA Sign MoU for 3 Testing Facilities in UP
2. InsuranceDekho Enters Reinsurance Broking with Composite Licence
3. Ind-Ra Raises India’s FY25 GDP Growth Forecast to 7.5%
4. Robert Keith Rae Elected President of UN’s ECOSOC
5. Yuki Bhambri and Albano Olivetti Win Men’s Doubles at Swiss Open Gstaad
6. Muslim Women’s Rights Day 2024 – August 1
7. World FinTech Day 2024 – August 1
8. Karnataka Approves Renaming of Ramanagara District to Bengaluru South District
9. WHO Launches Initiative for mRNA Vaccine Development Against H5N1
10. Private Sector Invited for Communication Satellites Opportunity
11. Indian Air Force to Host First Multinational Air Exercise Tarang Shakti
12. South Korean Researchers Demonstrate Nano-MIND Technology in Mice
13. Nelson Mandela Legacy Sites Recognized as UNESCO World Heritage
14. Google CEO Sundar Pichai Receives Honorary Doctorate from IIT-Kharagpur
15. Indian Armed Forces Appoint First Woman Director General of Medical Service
16. ADB Provides $200 Million Loan for Solid Waste Management in India
17. Sanjay Shukla Assumes Role as M.D of National Housing Bank
18. 32nd International Conference of Agricultural Economists (ICAE-2024)

National News

1. ADB Provides $200 Million Loan for Swachh Bharat Mission 2.0
   • What
     • The Asian Development Bank (ADB) and the Government of India have signed a $200 million loan to improve solid waste management and sanitation in 100 cities across eight states.
   • Why
     • The loan aims to support the objectives of the government’s Swachh Bharat Mission – Urban 2.0 by enhancing sanitation and solid waste management infrastructure.
   • Tell me more
     • The signatories to the loan agreement were Juhi Mukherjee, Joint Secretary, Finance Ministry, and Mio Oka, Country Director for ADB – India Resident Mission.
     • The program will upgrade and establish solid waste processing and management facilities, such as bio-methanation plants, composting plants, managed landfills, and plastic waste processing facilities.
     • It will also support the construction of community toilets and urinals, and the purchase of sweeping equipment.
       Source: BS
2. International Conference of Agricultural Economists Scheduled
   • What
     • The 32nd International Conference of Agricultural Economists (ICAE-2024) will be held from August 2-7, 2024, in New Delhi, India.
   • Why
     • The conference aims to provide a platform for agricultural academic institutions and researchers to exchange knowledge and contribute to the global agricultural research community.
   • Tell me more
     • The theme for this year’s conference is “Transformation Towards Sustainable Agri-Food Systems.”
     • The International Association of Agricultural Economists (IAAE) organizes this flagship conference to foster the application of agricultural economics for improving rural economic and social conditions.

Source: ICAE

State News

1. Fintech Innovation Laboratory Inaugurated at K.L. University
   • What
     • A Fintech Innovation Laboratory has been inaugurated at K.L. Deemed to be University, Andhra Pradesh to enhance opportunities in the fintech sector and improve the delivery and use of financial services.

2. Karnataka Renames Ramanagara District to Bengaluru South
   • The Karnataka government has approved the renaming of Ramanagara district to Bengaluru South.
   • Ramanagara was carved out as a district in 2007 during the tenure of the then Chief Minister H.D. Kumaraswamy.
     Source: TH

International News

1. WHO’s New Project Launched for H5N1 mRNA Vaccine Development
   • What
     • A project has been launched to accelerate the development of human avian influenza (H5N1) mRNA vaccine candidates for manufacturers in low- and middle-income countries.
   • Why
     • The initiative aims to enhance the accessibility and production of mRNA vaccines, improving pandemic preparedness and response capabilities.
   • Tell me more
     • The project will be led by Argentinian manufacturer Sinergium Biotech, in collaboration with the World Health Organization (WHO) and the Medicines Patent Pool (MPP).
     • The mRNA Technology Transfer Programme, initiated in July 2021, focuses on building capacity for mRNA vaccine development in low- and middle-income countries.

2. South Africa’s Nelson Mandela Legacy Sites Added to UNESCO List
   • What
     • UNESCO has added South Africa’s Nelson Mandela Legacy Sites for Human Rights, Liberation, and Reconciliation to the World Heritage List.
   • Tell me more
     • The Nelson Mandela Legacy Sites consist of fourteen locations that reflect key events in South Africa’s political history during the 20th century, including the Union Buildings and the Sharpeville Sites.
     • With this, UNESCO has added 25 new landmark sites to the World Heritage List during the 46th World Heritage Committee Session held at Bharat Mandapam in New Delhi
       Source: NOA

Banking and Economy

1. InsuranceDekho Receives Composite Insurance Broking License
   • What
     • Gurugram-based insurance marketplace InsuranceDekho has received a composite insurance broking license from the Insurance Regulatory and Development Authority of India (IRDAI).
   • Why
     • This license allows InsuranceDekho to offer reinsurance services to its clients, expanding its capabilities beyond traditional insurance broking.
       Source: ET

GDP Forecasts

1. India Ratings Upgrades GDP Growth Forecast to 7.5%
   • What
     • India Ratings & Research (Ind-Ra) has revised India’s GDP growth forecast for the current fiscal year to 7.5% from the previous estimate of 7.1%.
   • Why
     • The upgrade is based on expectations of improved consumption demand supported by government spending and private corporate investments.
   • Tell me more
     • Ind-Ra’s forecast is higher than the Reserve Bank of India’s projection of 7.2% and the Finance Ministry’s Economic Survey estimate of 6.5-7%.
     • The agency expects Private Final Consumption Expenditure (PFCE) to rise to a three-year high of 7.4% in FY25, up from 4% in FY24.
       Source: ET

Defence News

1. Indian Air Force to Host Largest International Air Exercise “Tarang Shakti”
   • What
     • The Indian Air Force is set to conduct its largest international air exercise, named Tarang Shakti, in August and September.
   • Tell me more
     • The first phase of the exercise will take place in Sulur, Tamil Nadu from August 6-14, involving Germany, France, Spain, and the UK.
     • The second phase will occur in Jodhpur from September 1-14, with participation from the US, Greece, and other countries.
     • A total of 51 countries have been invited, with 10 confirming their participation and 18 countries attending as observers.

Source: BS

Science and Technology

1. IN-SPACe Invites Non-Government Entities for Satellite Project
   • What
     • IN-SPACe has issued an ‘Announcement of Opportunity’ (AO) for non-government entities (NGEs) to build, launch, and operate a telecommunications satellite.
   • Why
     • The initiative aims to utilize unutilized ITU filings to enhance satellite communications and promote private sector involvement in space technology.
   • Tell me more
     • This marks the first time IN-SPACe has invited NGEs to participate in satellite development.
     • The project is part of a broader effort to improve satellite communication and foster innovation in the Indian space sector.
     • IN-SPACe has also recently announced a seed fund for projects related to the blue economy, supporting innovative uses of space technology.
     • The ITU filing in question is ‘INSAT-KA89ER’, which includes specific uplink and downlink frequency requests.
       Source: HBL
2. Researchers Control Brain Regions Using Magnetic Fields
   • What
     • Researchers at the Center for Nanomedicine and Yonsei University in South Korea have successfully controlled specific brain regions in mice using magnetic fields.
   • Why
     • This breakthrough aims to enhance understanding and manipulation of complex brain functions such as cognition, emotion, and motivation.
   • Tell me more
     • The technology, called Nano-MIND (Magnetogenetic Interface for NeuroDynamics), allows for wireless and precise modulation of deep brain neural circuits.
     • The research also demonstrated regulation of feeding behaviors by targeting motivation circuits in the lateral hypothalamus, significantly affecting appetite.
       Source: IT

Awards

1. IIT-Kharagpur Awards Honorary Degree to Sundar Pichai
   • What
     • IIT-Kharagpur has awarded Sundar Pichai, CEO of Alphabet, an honorary Doctor of Science degree.
   • Why
     • The award recognizes Pichai’s significant contributions to digital transformation and innovation in technology.
   • Tell me more
     • The ceremony took place in San Francisco, marking a special occasion for both Pichai and the institute.
     • Pichai’s wife, Anjali Pichai, received the Distinguished Alumnus Award, highlighting their achievements.
     • The honorary degree was conferred by President Droupadi Murmu during the 69th Convocation of IIT-Kharagpur, which Pichai could not attend.
       Source: TOI

Important Days

1. Muslim Women’s Rights Day – August 1
   • Muslim Women’s Rights Day is celebrated across India on August 1 to commemorate the enactment of the law against triple talaq.
   • The Muslim Women (Protection of Rights on Marriage) Bill was introduced in December 2017 and passed by Parliament in July 2019.
     Source: HT
2. World FinTech Day – August 1
   Source: WFD

Sports

1. Yuki Bhambri and Albano Olivetti Win Swiss Open Doubles
   • What
     • Indian tennis player Yuki Bhambri and his French partner Albano Olivetti won the Swiss Open 2024 doubles event.
   • Why
     • This victory marks their second ATP Tour title of the year, showcasing their strong performance in the tournament.
   • Tell me more
     • Bhambri and Olivetti were seeded third in the ATP 250 tournament.
     • This was their third final on the ATP Tour in 2024, having previously won in Munich and lost in Lyon.
     • Bhambri has now secured three titles on the ATP Tour, with his first title won in 2023 at the Mallorca Championships alongside Lloyd Harris.
       Source: OC

Memorandum of Understanding

1. MoD Signs MoU for Testing Facilities in UP
   • What
     • The Ministry of Defence (MoD) signed a memorandum of understanding (MoU) to establish three advanced testing facilities under the Uttar Pradesh Defence Industrial Corridor (UPDIC).
   • Why
     • This initiative aims to promote indigenous defense production, reduce imports, and enhance self-reliance in the defense sector.
   • Tell me more
     • One facility will be set up in Lucknow focusing on the Mechanical & Material (M&M) domain, and two in Kanpur for Unmanned Aerial Systems (UAS) and Communications.
     • The MoU is part of the Defence Testing Infrastructure Scheme (DTIS), which was launched in May 2020 with an outlay of ₹400 crore.
     • The facilities will provide advanced testing equipment and services for both government and private entities.

Source: ET

Appointments

1. Robert Keith Rae, Canada’s Ambassador to the UN, Elected President of UN’s ECOSOC
   • A veteran Canadian politician and diplomat, Robert Keith Rae, was elected President of the UN Economic and Social Council (ECOSOC).
     Source: UN
2. Lieutenant General Sadhna Nair Becomes First Woman DGMS
   • What
     • Lieutenant General Sadhna Saxena Nair has been appointed as the Director General Medical Services (Army), making her the first woman to hold this position.
   • Tell me more
     • Prior to this role, Lt. Gen. Nair served as the Director General of Hospital Services (Armed Forces) and was promoted to the rank of Air Marshal.
     • She graduated from the Armed Forces Medical College, Pune, and was commissioned into the Army Medical Corps in December 1985.
     • Lt. Gen. Nair is also the first woman Principal Medical Officer of the Western Air Command and Training Command of the Indian Air Force.
     • She was nominated as an expert member of the Dr. Kasturirangan Committee for drafting the medical education component of the National Education Policy.
       Source: TH
3. Sanjay Shukla Appointed Managing Director of NHB
   • Sanjay Shukla has officially taken on the role of Managing Director (MD) of the National Housing Bank (NHB).
     Source: BS

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