02nd July, 2024

1. Highlights of New Criminal Laws
2. The Telecommunication Mobile Number Portability (9thAmendment) Regulations, 2024 came into effect.
3. Hemis Tseschu Festival Commences in Ladakh
4. Union Bank of India introduces “Union Premier” branches for high-value customers
5. India has initiated an anti-dumping probe pertaining to glass fibre imports from China, Thailand, and Bahrain.
6. Patanjali Foods to buy non-food business of Patanjali Ayurveda
7. Purplle group raises Rs. 1,000 crores from ADIA
8. Air India to set up South Asia’s largest flight training school in Maharashtra’s Amravati
9. Manufacturing PMI rose to 58.3 in June
10. SEBEX 2: India Gets One Of Most Powerful Non-Nuclear Bombs
11. India’s GRSE inks deal with Bangladesh Navy under $500-mn line of credit
12. Japan launches advanced earth observation satellite on H3 rocket.
13. Researchers developed method to produce carbon for supercapacitors from coconut husks
14. Formula 1: Austrian Grand Prix
15. Singapore wins bid to host World Chess Championship in 2024
16. Lt Gen NS Raja Subramani Appointed New Vice Chief of Army
17. LIC Chairman Mohanty re-designated MD & CEO
18. Arnab Chowdhury and Charulatha S Kar appointed as the executive director (ED) of RBI
19. MoEFCC approved funds for next phase of Bustard Recovery Program
20. Legendary Albanian Novelist Ismail Kadare passed away

National News

1. Highlights of New Criminal Laws
   • What: On July 1, 2024, India introduced three groundbreaking criminal laws that replace the existing ones.
   • The three new criminal laws were passed by Parliament in the year 2023.

2. Telecommunication Mobile Number Portability (9thAmendment) Regulations released
   • What: The Telecommunication Mobile Number Portability (9thAmendment) Regulations, 2024 came into effect.
     • Issued on: 14th March, 2024
     • Applicable from: 1st July, 2024.
     • Released by: The Telecom Regulatory Authority of India (TRAI) under the Department of Telecommunications (DOT), Ministry of Communications (MOC)
   • Tell me more:
     • Why released: These new regulations aimed to curb the porting of mobile numbers by way of fraudulent Subscriber Identity Module (SIM) swap or replacement by unscrupulous elements.
     • Key Features:
       • The new regulations has introduced an additional criterion for rejecting the request for allocation of a Unique Porting Code (UPC), the 1st step to changing service providers using Mobile Number Portability (MNP).
       • further mandates that the UPC should not be allocated if the request for UPC has been made before the expiry of 7 days (earlier, it was 10 days) from the date of SIM swap or replacement of the mobile number.
         • It is applicable only for those users who have lost their SIM card and applied for a replacement and for users who are upgrading their SIM card, there is no restriction on porting.
       • The new regulations permits the users to choose the MNP facility which will enable them to retain their mobile number when they move from one access provider to another access provider in India.
       • Note: The MNP facility was 1st introduced in Haryana telecom circle in November 2010 on pilot basis. Later, MNP was extended to the entire India in July, 2015.
         Source: TRAI

State News

1. Hemis Tseschu Festival Commences in Ladakh
   • What: Hemis festival, also known as Hemis Tsechu, is annually celebrated in Ladakh on the 10th day of the Tse-Chu, the lunar month in the Tibetan calendar.
   • Why: To mark the birth anniversary of Guru Padmasambhava, the Indian Buddhist mystic and the founder of Tibetan Buddhism.

Source: Times of India

Banking and Economy

1. Union Bank of India introduces “Union Premier” branches for high-value customers
   • What: The Union Bank of India has recently launched “Union Premier branches”.
   • Why: To cater to high-value customers in rural and semi-urban (RUSU) markets.
   • Tell me more (Features)
     • Dedicated Personal Relationship Manager: Each Union Premier customer enjoys the assistance of a personal Relationship Manager to address their banking needs.
     • State-of-the-Art Digital Banking Solutions
       Source: Business Line

   
   

2. India Initiates Anti-Dumping Probe Into Import Of Glass Fibre From China, Thailand, Bahrain
   • What: India has initiated an anti-dumping probe pertaining to glass fibre imports from China, Thailand, and Bahrain.
     Source: Hindustan Times

   
   

3. Patanjali Foods to buy non-food business of Patanjali Ayurveda
   • What: Fast-moving consumer goods (FMCG) company Patanjali Foods (formerly Ruchi Soya Industries) announced to acquire the entire nonfood business from Patanjali Ayurved.
   • Tell me more:
     • Deal value: Rs. 1,100 crores, to be completed in five tranches.
     • The non-food business currently serves four key segments within the home and
       personal care (HPC) category.
     • “This strategic initiative shall strengthen the company’s existing FMCG product portfolio.
       Source: Hindustan Times

4. Purplle group raises Rs. 1,000 crores from ADIA
   • What: Omni-channel beauty platform Purplle Group announced raising Rs. 1,000 crore in a funding round led by a wholly owned subsidiary of Abu Dhabi Investment Authority (ADIA).
   • Why: The money will be used for technology innovation and retail expansion, including experimenting with offline store formats
   • The fresh capital was raised through a combination of primary and secondary shares issuance.
     Source: Live Mint

   
   

5. Air India to set up South Asia’s largest flight training school in Maharashtra’s Amravati
   • What: Tata Group owned airline, Air India is setting up South Asia’s largest flight training school.
   • Why: Air India requires more and more pilots for more expansion.
     • It is the first airline to set up such a training school and the initiative comes on the backdrop of its mega order of 470 Airbus and Boeing aircraft in 2023.
     • It is estimated that the airline would require 500-700 pilots each year for its expansion plan.
   • Tell me more:
     • Investment: ₹200 crore
     • Location: Maharashtra’s Amravati district (Belora Airport)
     • Opening date: By First quarter of 2025-26 (FY26)
     • Annual capacity: 180 pilots will be trained annually
     • Initiative by: It is an initiative by the Maharashtra Airport Development Company Ltd. (MADCL).
       • It has awarded Air India a tender to establish and operate the school.
     • Current capacity: There are over 34 approved training schools in India, around 40 per cent of pilots complete their commercial pilots licence training overseas.
       Source: Business Line
     
     

6. Manufacturing PMI rose to 58.3 in June
   • What: In June 2024, India’s manufacturing Purchasing Managers’ Index (PMI) rose to 58.3, indicating robust growth in the sector.
     • It was 57.5 in May.
   • This increase was supported by higher new orders and output.
     Source: Business Line

   
   

Defence News

1. SEBEX 2: India Gets One Of Most Powerful Non-Nuclear Bombs
   • What: India has successfully developed and certified SEBEX 2, a new explosive that is 2.01 times more lethal than standard Trinitrotoluene (TNT).
     • An explosive’s performance is measured in terms of the TNT equivalence, the explosives having higher TNT equivalence have more “lethality and destructive power,”

   • Tell me more:
     • Certifies by: Indian Navy
     • Tested under: It was tested under the Defence Export Promotion Scheme of the Navy
     • Developed by: Economic Explosives Limited (EEL), Nagpur (Maharashtra), a subsidiary of Solar Industries, under the Make In India initiative.
       • A total of three new explosive formulations have been developed

     • With a TNT equivalence of 2.01, SEBEX 2 is among the most potent non-nuclear explosives globally.
     • The current most potent conventional explosive used in India, filling the Brahmos warhead, has a TNT equivalence of about 1.50.
       Source: NDTV

2. India’s GRSE inks deal with Bangladesh Navy under $500-mn line of credit
   • What: The Bangladesh Navy has signed a deal with India’s Garden Reach Shipbuilders and Engineers (GRSE) for an 800-tonne ocean-going tug.
   • Finance: Approx USD 21 Million
     • This contract is part of a $500-million line of credit extended by India to Bangladesh for the purchase of defense equipment in 2023.

• Deadline: 24 months (2 years)
  Source: Hindustan Times

Science and Technology

1. Japan launches advanced earth observation satellite on H3 rocket.
   • What: Japan launched an earth observation satellite named, Advanced Land Observation Satellite-4 “DAICHI-4′′ (ALOS-4) on its H3 Launch Vehicle (H3 F3: Flight No.3).
   • Why: To enhancing earth observation and military monitoring capabilities, improve disaster response and security measures.
   • Tell me more:
     • Launch venue: Tanegashima Space Center (TNSC), Japan.
     • Developed by: JAXA in partnership with Mitsubishi Heavy Industries Limited (MHI)
       Source: Times of India

2. Researchers developed method to produce carbon for supercapacitors from coconut husks
   • What: Researchers at Government College for Women, Thiruvananthapuram, have developed a method to produce activated carbon for supercapacitors from coconut husks.
     • Activated Carbon, also known as activated charcoal, is a highly porous form of carbon.
     • Supercapacitors are a revolutionary energy storage solution with higher capacitance and storage capacity than conventional capacitors, making them vital for sustainable energy systems.
       Source: The Hindu

Sports

1. Formula 1: Austrian Grand Prix
   • What: The Formula 1 Austrian Grand Prix was held recently in Spielberg, Austria
   • Results
     • Rank 1: George Russell
     • Rank 2: Oscar Piastri
     • Rank 3: Carlos Sainz
       Source: The Telegraph
2. Singapore wins bid to host World Chess Championship in 2024
   • What: Singapore beat India’s New Delhi and Chennai to host the World Chess Championship.
     • This will be the second time in the championship’s 138-year history that the tournament is held in South-east Asia, after Baguio, the Philippines, in 1978.
   • Tell me more:
     • Chennai last hosted the world championship in 2013.
       • In that event Norwegian player Magnus Carlsen defeated Viswanathan Anand in finals.
     • India’s Gukesh (18 years), is the youngest challenger for the world title in history and earned the right to face Ding by winning the 2024 Candidates Tournament in Toronto in April.
       Source: Hans India

Appointments

1. Lt Gen NS Raja Subramani Appointed New Vice Chief of Army
   • What: The government has appointed Lieutenant General NS Raja Subramani as the next Vice Chief of Army Staff (VCOAS).
   • He has been appointed as Lt. Gen. Upendra Dwivedi (former Vice Chief of Indian Army) has been appointed as the Chief of Army Staff (COAS).

2. LIC Chairman Mohanty re-designated MD & CEO
   • What: Life Insurance Corporation of India (LIC) has re-designated Chairman Siddhartha Mohanty as the chief executive officer and managing director of LIC.
   • He was appointed as the chairperson of LIC in April 2023 until June 29, 2024.
   • Thereafter, he was scheduled to take over the role of MD & CEO of the corporation until June 2025.
     Source: Business Standard

3. Arnab Chowdhury and Charulatha S Kar appointed as the executive director (ED) of RBI
   • What: Arnab Kumar Chowdhury and Charulatha S Kar have taken the charge of executive director (ED) of RBI.
   • As an ED, Chowdhury will look after Deposit Insurance and Credit Guarantee Corporation, Foreign Exchange, and International Department.
   • Kar will look after the Department of Communication, Human Resource and Right to Information (First Appellate Authority).
     Source: Business Standard

Miscellaneous

1. MoEFCC approved funds for next phase of Bustard Recovery Program
   • What: The Ministry of Environment, Forest and Climate Change (MoEFCC) has approved the next phase of the conservation of Great Indian Bustard (GIB) and Lesser Florican.
   • Tell me more:
     • Amount allocated: Rs. 56 crores
     • First launched in: 2016
     • Why launched: For long-term recovery of Great Indian Bustard and Lesser Florican.
     • Implemented by: Wildlife Institute of India
     • Phase 2 duration: 2024 to 2033.
     • Conservation Model: It includes habitat development, in-situ conservation, completion of the conservation breeding Centre, releasing captive-bred birds, etc.

Great Indian Bustard

Lesser Florican

2. Legendary Albanian Novelist Ismail Kadare passed away
   • What: Ismail Kadare, Albania’s renowned novelist and writer passed away.
   • His works, includes over 80 novels, plays, screenplays, poetry, essays, and story collections, were translated into 45 languages.
   • His novel “The General of the Dead Army”, published in 1963, brought him international recognition. The book tells the story of an Italian general sent to Albania to repatriate the bones of compatriots killed during World War II.
   • France awarded him the Grand Officer of the Legion of Honor title, and he had long been considered a possible Nobel laureate in literature.
   • In 2005, he was awarded the Man Booker International Prize for his writings.
     Source: The Hindu

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