10th May, 2024

1. The Central Board of Secondary Education (CBSE) issued a circular instructing schools to prioritize teaching children in their mother tongue, aligning with the National Education Policy (NEP) 2020 and National Curriculum Framework (NCF) 2022.
2. The Delhi Electricity Regulatory Commission (DERC) has given the approval for a Battery Energy Storage System (BESS) project.
3. Swiss startup Clime Works AG has opened the world’s largest operational Direct Air Capture and Storage (DAC + S) plant named “Mammoth” in Iceland.
4. YES Bank Ltd, a leading private sector bank in India, partnered with EBANX (Brazilian payment company) for payment processing in India for the global digital economy
5. Google DeepMind and Isomorphic Labs introduced AlphaFold3, an advanced version of their artificial intelligence technology called AlphaFold.
6. The “Amplifying the Global Value of Earth Observation” report, released by the World Economic Forum (WEF) in collaboration with Deloitte.
7. According to a report titled “India Defence” by Nomura, India’s defense sector presents a substantial ordering opportunity of USD 138 billion between FY24 and FY32.
8. 8th May: World Red Cross and Red Crescent Day
9. Asian Boxing Confederation (ASBC) Asian U-22 and Youth Boxing Championships 2024
10. Springer Nature, a global publisher, has recently entered into a Transformative Agreement (TA) with the Department of Atomic Energy (DAE) in India.
11. Renowned Urdu litterateur and Sahitya Akademi Award winner (2004) Shaikh Abdussalam Abdurrazzaq known by his pen name Salam Bin Razzaq passed away.
12. Researchers discover new marine tardigrade species; name it after the Chandrayaan mission
13. Blue color Notice refers to collecting additional information about a person’s identity, location or activities in relation to a criminal investigation.
14. The “gateway to the underworld,” a huge crater in Siberia’s permafrost, is growing by 35 million cubic feet (1 million cubic meters) every year.

National News

1. CBSE instructed schools to focus on teaching children in their mother tongue
   • What: The Central Board of Secondary Education (CBSE) issued a circular instructing schools to prioritize teaching children in their mother tongue, aligning with the National Education Policy (NEP) 2020 and National Curriculum Framework (NCF) 2022.
   • NEP 2020 advocates for mother tongue education until at least Grade 5, preferably extending to Grade 8 and beyond
   • NCF 2022 has recommended that mother tongue should be the primary medium of instruction for children till eight years of age
     Source: The Hindu

2. India’s First Commercial Utility-Scale Project Receives Regulatory Approval
   • What: The Delhi Electricity Regulatory Commission (DERC) has given the approval for a Battery Energy Storage System (BESS) project.
     • BESS refers to large-scale energy storage solutions that capture energy from various sources, including renewable and non-renewable ones, and store it in rechargeable batteries for later use.
     • This stored energy can then be used during periods of peak demand or when renewable generation is low.
   • Tell me more:
     • Capacity: 20 Megawatt / 40 Megawatt hour (MWH)
     • Established in: Delhi
     • Funded by: A concessional loan from the Global Energy Alliance for People and Planet (GEAPP), covering 70% of the total project cost.
     • Launched by: GEAPP, IndiGrid, BSES Rajdhani Power Limited (BRPL)
       • GEAPP is an alliance of philanthropy, governments in emerging and developed economies, and technology, policy, and financing partners.
       • IndiGrid is the first Infrastructure Investment Trust (“InvIT”) in the Indian power sector.
     • India is a first-mover country in the BESS Consortium.
       • It is a multi-stakeholder coalition launched by the GEAPP Leadership Council, which is focused on scaling energy transitions worldwide.
     • About the BESS Project:
       • GEAPP aims to achieve 1 Giga Watt (GW) of BESS commitments in India by 2026.
       • This is in line with India’s goal of deploying 47 GW of BESS by 2032.
         Source: GEAPP

International News

1. Clime Works opens the world’s largest plant to extract CO2 from air in Iceland
   • What: Swiss startup Clime Works AG has opened the world’s largest operational Direct Air Capture and Storage (DAC + S) plant named “Mammoth” in Iceland.
   • Why: It will extract Carbon Dioxide (CO2) from the air and store it underground in the form of rock.
   • Tell me more:
     • The plant has the capacity to capture up to 36, 000 tons of CO2 per annum.
     • Mammoth is the second DAC + S plant of Climeworks, is 10 times bigger than Orca (which is the world’s 1st DAC + S plant opened in Iceland in 2021).
     • It will be completed by the end of 2024.
       Source: Reuters

Banking and Economy

1. YES BANK and EBANX Announces Partnership to Empower Cross-Border Commerce in India
   • What: YES Bank Ltd, a leading private sector bank in India, partnered with EBANX (Brazilian payment company) for payment processing in India for the global digital economy.
   • Why: This partnership aims to streamline cross-border payment processing and enhance global commerce opportunities for international merchants and Indian customers in India.
     • A cross-border payment is a financial transaction that happens between people or businesses in different countries.
     • For instance, if you’re in India and you buy something from an online store in the United States, you’d be making a cross-border payment.
       Source: Economic Times
2. Google unveils AI-led technology for predicting human molecules’ behaviour
   • What: Google DeepMind and Isomorphic Labs introduced AlphaFold3, an advanced version of their artificial intelligence technology called AlphaFold.
   • Why: This technology helps scientists understand the behavior of microscopic mechanisms within the human body that drive the cells in the human body.
   • Tell me more:
     • An early version of AlphaFold, released in 2020, solved a puzzle that had bedeviled scientists for more than 50 years. It was called “the protein folding problem.
     • The new version of AlphaFold — AlphaFold3 — extends the technology beyond protein folding.
       • In addition to predicting the shapes of proteins, it can predict the behavior of other microscopic biological mechanisms, including DNA, where the body stores genetic information, and RNA, which transfers information from DNA to proteins.
         Source: Business Standard

Report and Indices

1. “Amplifying the Global Value of Earth Observation Report” released by WEF
   • What: The “Amplifying the Global Value of Earth Observation” report, released by the World Economic Forum (WEF) in collaboration with Deloitte.
   • EO refers to collecting information about activities and characteristics on Earth, both natural and artificial, including physical, chemical, biological, and human systems. EO includes:
     • Remotely sensed data is collected from satellites, piloted aircraft, etc.
     • In-situ data is gathered from GPS-enabled devices, Internet-of-things sensors, etc.
   • Why: The report underscores the immense potential of satellite technology and Earth observation (EO) data.
   • Tell me more:
     • Economic Opportunity:
       • The global value of EO data could swell from $266 billion to just over $700 billion in six years (2024-2030) and could add a cumulative $3.8 trillion contribution to the global GDP between 2023 and 2030.
       • EO data has the potential to eliminate 2 gigatonnes of greenhouse gas (GHG) emissions every year
     • Region-wise
       • The Asia Pacific region is poised to capture the largest share of EO’s value by 2030, reaching a potential value of $315 billion, while Africa and South America are positioned to realize the largest percentage growth.
     • Benefits:
       • An increased uptake in the use of EO data could stimulate innovation, drive efficiency, and help leaders better manage risks.
       • There are mainly two ways in which EO can reduce emissions
         • monitor climate variables and emissions, which inform actions to mitigate climate change such as limiting GHG emissions and supporting carbon capture;
         • monitor ecosystems to inform actions that protect and strengthen natural habitats, biodiversity, and overall ecological health,
       • Global adoption of EO could increase by 30% or more by 2030
     • The report identifies five key areas:
       • environmental monitoring – satellites and aircraft-borne sensors can monitor CO2 and methane emissions, pinpoint emissions sources like oil and gas pipeline leaks
       • early warning – EO can be used to better characterise wildfire risk and to spot wildfires faster among others
       • shipping route optimization
       • precision agriculture, including monitoring plant health and nutrient uptake from soil;
       • supply chain monitoring to detect illegal deforestation, etc.
         Source: WEF

Defence News

1. “India Defence” report released by Nomura
   • What: According to a report titled “India Defence” by Nomura, India’s defense sector presents a substantial ordering opportunity of USD 138 billion between FY24 and FY32.
   • Why: The sector is witnessing significant growth driven by increasing defense budgets, modernization, and the government’s Make in India initiative for indigenous manufacturing.
   • Tell me more:
     • Global military expenditure was $2,443 billion in (Calendar Year) CY23, rising 6.8 percent year-on-year (Y-o-Y).
     • It was the steepest Y-o-Y increase since CY09.
     • The report said such spending increased in all five geographical regions — Europe, Asia and
       Oceania, Americas, the West Asia, and Africa — defined by Stockholm International Peace
       Research Institute (SIPRI).
     • NOMURA is bullish on the stocks of Bharat Electronics Limited (BEL), and Hindustan Aeronautics Limited (HAL).
       Source: Business Standard

Important Days

1. 8th May: World Red Cross and Red Crescent Day
   • What: World Red Cross and Red Crescent Day is annually observed across the globe on 8th May to honor and thank the volunteers and staff of the International Red Cross and Red Crescent Movement.
   • The theme for 2024: I give with joy, and the joy I give is a reward
     Source: Red Cross

Sports

1. Asian Boxing Confederation (ASBC) Asian U-22 and Youth Boxing Championships 2024
   • What: The Indian boxing team bagged a total of 43 medals at the Asian Boxing Confederation (ASBC) Asian U-22 and Youth Boxing Championships 2024, held in Astana, Kazakhstan
   • The Indian boxers secured 12 gold, 14 silver, and 17 bronze medals from both the youth and U-22 categories and ranked second in terms of the medal count, behind Kazakhstan, which won 48 medals in total.
   • Hosted by: Asian U-22 and Youth Boxing Championship.
     Source: News18

Memorandum of Understanding

1. Springer Nature and Department of Atomic Energy, sign MoU for Open Research
   • What: Springer Nature, a global publisher, has recently entered into a Transformative Agreement (TA) with the Department of Atomic Energy (DAE) in India.
   • Why: Springer Nature and DAE will work together to promote open-access principles and remove barriers to the dissemination of scholarly research.
   • Tell me more:
     • Springer Nature is the first to sign a TA with the DAE, a publicly funded department in India, to enable and improve interdisciplinary research.
       Source: Springer research

Miscellaneous

1. Sahitya Akademi Award winner Salam Bin Razzaq passed away
   • What: Renowned Urdu litterateur and Sahitya Akademi Award winner (2004) Shaikh Abdussalam Abdurrazzaq known by his pen name Salam Bin Razzaq passed away.
   • He won the Sahitya Akademi Award for his Urdu short stories collection, ‘Shikasta Buton Ke Darmiyan’, in 2004.
     Source: Mid-Day
2. Researchers discover new marine tardigrade species; name it after the Chandrayaan mission
   • What: Researchers from the Cochin University of Science and Technology (CUSAT) have discovered a new species of marine tardigrade, colloquially known as water bears it has been named Batillipes chandrayaani, a homage to the Chandrayaan-3, the first ever successful lunar south pole landing mission hosted by ISRO in 2023.
   • This newly described species was found in the Mandapam coast, of Tamil Nadu.
     Source: The New Indian Express
3. Interpol issues blue colour notice
   • Blue color Notice refers to collecting additional information about a person’s identity, location or activities in relation to a criminal investigation.

4. Siberia’s ‘gateway to the underworld’ is growing a staggering amount each year
   • What: The “gateway to the underworld,” a huge crater in Siberia’s permafrost, is growing by 35 million cubic feet (1 million cubic meters) every year.
   • Permafrost is the permanently frozen ground that underlies the giant crater in Siberia
     Source: Live Science

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