13th August, 2024

1. AIIA Signed MoU with Amity University To Boost Ayurvedic Research & Education
2. MoHA Constituted 5 member Committee to Monitor India-Bangladesh Border
3. SCTIMST Signs MoU with WHO to Enhance Medical Device Production
4. World Airline Awards 2024 by Skytrax: India’s Vistara voted as Best Airline in India/South Asia 2024
5. Fractional Ownership Platform Property Share Received India’s 1st SM REIT License from SEBI
6. SBI Signed MoU with Jakson Engineers to Promote Solar Energy Adoption in India
7. AFLI Partners With PhonePe To Increase Life Insurance Penetration in India
8. Mirae Asset Investment Managers (India) Launches India’s 1st Multicap ETF “Mirae Asset Nifty500 Multicap 50:25:25 ETF”
9. SBI Projects GDP Growth of 7% in FY25
10. Raj Kumar Chaudhary Takes Charge as CMD of NHPC Limited
11. Dhruva Space Collaborates with Singapore’s ZES to Enhance its OBC Subsystems for Satellite Missions
12. Former CAF President Issa Hayatou Passed Away
13. World Bio-Fuel Day 2024 – August 10
14. World Lion Day 2024 – August 10
15. World Steelpan Day 2024 – August 11
16. Prime Minister released 109 high yielding, climate resilient and biofortified varieties of crops
17. Indian External Affairs Minister visited Maldives
18. India and Nepal signed MoU to provide grant assistance for the launch of Nepal’s Munal Satellite
19. UN Member States have finalised treaty targeting cybercrime
20. Central Plantation Crops Research Institute (CPCRI), issued an advisory to control ‘kole roga’ (fruit rot disease) in arecanut plantations.
21. Exercise Udara Shakti
22. Reports have claimed that the US wanted to establish a military base in St. Martin’s Island of Bangladesh
23. Neelakurinj ihas been included on the IUCN (International Union for Conservation of Nature) official Red List of threatened species under the Vulnerable category
24. Indian President has been conferred with the highest civilian award of Timor-Leste.

National News

1. India Forms Committee to Address Bangladesh Border Issues
   • What
     • The Ministry of Home Affairs has established a five-member committee led by a senior Border Security Force (BSF) official to address safety concerns for Indian nationals and minority communities in Bangladesh.
   • Why
     • The committee aims to ensure the safety of Indian citizens amid rising tensions in Bangladesh following the resignation of Prime Minister Sheikh Hasina and the resulting protests.
       Source: TH
2. EAM Jaishankar Concludes Maldives Visit
   • What
     • External Affairs Minister S. Jaishankar concluded a crucial three-day visit to the Maldives, assuring the country’s leadership that the Maldives remains an important partner for India in maintaining peace, stability, and prosperity in the Indian Ocean region.
   • Why
     • To strengthen the partnership between India and the Maldives and explore avenues to enhance the bilateral relationship further.
     • To reaffirm India’s commitment to the ‘Neighbourhood First’ policy and Vision ‘SAGAR’ (Security and Growth for All in the Region).
   • Tell me more
     • Jaishankar met with President Mohamed Muizzu, Foreign Minister Moosa Zameer, Defence Minister Ghassan Maumoon, and other key ministers.
     • Several MoUs were exchanged, including on capacity building of Maldivian civil servants in India and the introduction of UPI in the Maldives.
     • India’s Line of Credit (LoC)-assisted project of water and sewerage network in 28 islands of the Maldives was jointly inaugurated.
     • Jaishankar visited the India-assisted Greater Male Connectivity Project (GMCP) site and the Addu Reclamation and Shore Protection Project.

3. President Murmu Visits Timor-Leste, Strengthens Ties
   • What
     • President Droupadi Murmu made her first official visit to Timor-Leste, emphasizing the strong ties between India and Timor-Leste.
   • Tell me more
     • During her visit, President Murmu was awarded the Grand Collar of the Order of Timor-Leste, the highest honor of the nation.
       • The Grand Collar of the Order of Timor-Leste recognizes achievements in public service and dedication to social welfare and women’s empowerment.
     • She held discussions with President Jose Ramos-Horta about boosting cooperation and the possibility of Timor-Leste joining the International Solar Alliance.
     • This visit marks the first time an Indian president has traveled to Timor-Leste.
     • President Murmu’s trip was part of a three-nation visit that included New Zealand and Fiji.
       Source: ET

International News

1. UN Approves First Treaty Targeting Cybercrime
   • What
     • The United Nations has approved its first treaty targeting cybercrime, the United Nations Convention Against Cybercrime, despite opposition from human rights activists.
   • Why
     • To enhance international cooperation in preventing and combating cybercrime effectively.
     • To address issues such as child sexual abuse imagery and money laundering.
   • Tell me more
     • The treaty was adopted after three years of negotiations and will be submitted to the General Assembly for formal adoption.
     • It will enter into force once ratified by 40 member nations.
     • The treaty allows countries to request electronic evidence from other nations for crimes punishable by at least four years in prison under its domestic law.

2. St Martin’s Island
   • What
     • St Martin’s Island, a small island in the Bay of Bengal, has gained attention following allegations from former Bangladeshi Prime Minister Sheikh Hasina regarding U.S. interest in establishing a military base there.

   • Why
     • The island’s strategic location near Myanmar and the Bay of Bengal has raised geopolitical concerns, particularly regarding U.S. and Chinese influence in the region.
   • Tell me more
     • St Martin’s Island, also known as “Narikel Zinjira,” has been part of Bangladesh since the 1971 Liberation War and is recognized as the country’s only coral island.
     • The island is located about 9 km south of the Cox’s Bazar-Teknaf peninsula and 8 km west of Myanmar’s northwest coast.
     • In 2012, the International Tribunal for the Law of the Sea affirmed Bangladesh’s sovereignty over St Martin’s Island.
     • The island faces ecological threats, with warnings that it could be entirely coral-free by 2045 due to environmental degradation.

Source: BS

Banking and Economy

1. Property Share Company Receives SEBI License for SM REIT
   • What
     • Property Share has been granted the Small and Medium Real Estate Investment Trust (SM REIT) license by the Securities and Exchange Board of India (SEBI).
   • Why
     • The license allows Property Share to manage its fractional ownership platform and promote investment opportunities in real estate.
     • The introduction of SM REITs aims to make real estate investment more inclusive for retail and institutional investors.
   • Tell me more
     • The MoU was signed under the name of Property Share Investment Trust (PSIT), making it the first entity to secure this license.
     • Property Share plans to file for its first SM REIT scheme, which involves a fully-leased commercial property in Bengaluru valued at ₹330 crore.
     • The property is leased to a US-based technology company and has an annual yield of 9%.

2. Jakson Engineers Partners with SBI for Solar Energy
   • What
     • Jakson Engineers Limited has signed a Memorandum of Understanding (MoU) with the State Bank of India (SBI) to promote solar energy adoption across India.

   • Why
     • The collaboration aims to empower consumers in the commercial, industrial, and institutional sectors to embrace solar energy solutions, supporting India’s renewable energy goals.
   • Tell me more
     • The MoU is part of the SURYA SHAKTI SOLAR FINANCE initiative of SBI, which seeks to provide financial support for solar energy projects.
     • SBI will offer loans up to ₹10 crore to commercial and industrial users to expedite the deployment of rooftop solar projects.
     • The initiative aligns with the Prime Minister’s goal of achieving 100 GW of rooftop solar capacity by 2030.

3. Ageas Federal Life Insurance Partners with PhonePe for Instant Term Insurance
   • What
     • Ageas Federal Life Insurance, one of India’s leading private life insurers, has partnered with PhonePe to offer Instant Term Insurance to its vast customer base.
   • Why
     • To enhance life insurance penetration across India, particularly in Tier 2, 3, and 4 cities
     • To provide a seamless and hassle-free insurance purchasing experience to customers
   • Tell me more
     • PhonePe users aged 18-45 can easily access the ‘Ageas Federal Life Insurance Group Term Plan’ through the app.
     • The digital application process does not require medical tests or extensive paperwork.
     • Users can choose a sum assured ranging from Rs. 5 lakh to Rs. 25 lakh and opt for monthly or yearly premium payments starting at Rs. 5,000 annually.
     • Ageas Federal Life Insurance becomes the first insurer in the industry to offer Instant Term insurance through the PhonePe platform.

4. Mirae Asset Launches India’s First Multicap ETF
   • What
     • Mirae Asset Investment Managers (India) Pvt. Ltd. has launched India’s first Multicap Exchange Traded Fund (ETF), named the ‘Mirae Asset Nifty500 Multicap 50:25:25 ETF’.
   • Why
     • The ETF aims to combine the stability of large-cap stocks with the growth potential of mid and small caps.
   • Tell me more
     • The ETF is designed to replicate and track the Nifty500 Multicap 50:25:25 Total Return Index.
     • The index allocates 50% to large-cap stocks and 25% each to mid-cap and small-cap stocks.
     • The New Fund Offer (NFO) will open on August 12, 2024, and close on August 26, 2024.
     • The minimum investment required is ₹5,000, with subsequent investments in multiples of ₹1.
     • The fund will be managed by Ms. Ekta Gala and Mr. Vishal Singh.
     • The fund will undergo quarterly rebalancing to maintain its investment strategy.
       Source: CNBC

Report and Indices

1. Top 10 Airlines by Global Region 2024: Skytrax

Source: Skytrax

GDP Forecasts

1. SBI Projects India’s GDP Growth at 7.0% for FY25
   • What
     • The State Bank of India (SBI) has projected that India’s real GDP will grow by 7.0% year-on-year in FY25, slightly lower than the Reserve Bank of India’s (RBI) forecast of 7.2%.
   • Why
     • The downgrade is mainly due to global economic challenges that are emerging.
   • Tell me more
     • Despite the downgrade, the Indian economy continues to show robust growth and is expected to remain one of the fastest-growing economies this year.
     • SBI’s GDP estimate for FY25 considers several positive factors, including enhanced fiscal buffers, improved monsoon conditions leading to a recovery in agricultural activity, and increased private capital expenditure amid strong manufacturing activity.
     • The RBI’s Monetary Policy Committee (MPC) has maintained its overall growth projection at 7.2% for FY25 but has revised its Q1FY25 growth estimate downward to 7.1%.

Source: ET

Defence News

1. Exercise Udara Shakti 2024
   • Udara Shakti (an air force exercise) between India and Malaysia concluded in Kuantan, Malaysia.
   • Participants: Indian Air Force’s Su-30MKI fighter jets and Royal Malaysian Air Force’s Su-30MKM fighters
     Source: NOA

Science and Technology

1. Dhruva Space Partners with ZES to Enhance Satellite OBC Subsystems
   • What
     • Dhruva Space, an Indian space engineering solutions provider, has collaborated with Singapore-based space semiconductor manufacturer Zero-Error Systems (ZES) to boost the capabilities of its onboard computer (OBC) subsystem.
   • Why
     • To integrate ZES’s cutting-edge semiconductor technology, LDAP-IC-ZES100, into Dhruva Space’s OBC subsystem and enhance the performance, reliability, and processing power of the OBC subsystem.
   • Tell me more
     • The new technology will help protect the electronics used in satellites from issues caused by radiation, specifically from single-event latch-up (SEL).
     • With the upgraded OBC subsystem, satellites will have a longer lifespan in orbit, promoting sustainability in space.
     • Dhruva Space designs and builds satellite buses for various payloads and develops important subsystems like the OBC and electric power systems
       Source: TOI

Agriculture and Rural Development

1. PM Modi Releases 109 Climate-Resilient Crop Varieties
   • What
     • Prime Minister Narendra Modi released 109 high-yielding, climate-resilient, and biofortified varieties of 61 crops, including 34 field crops and 27 horticultural crops.
   • Why
     • To boost agricultural productivity and sustainability in India and to encourage farmers towards environment-friendly and sustainable farming practices.
   • Tell me more
     • The released varieties span cereals, millets, forage crops, oilseeds, pulses, sugarcane, cotton, fibre crops, fruits, vegetables, plantation crops, tubers, spices, flowers, and medicinal plants.
     • Farmers will receive seeds of all 109 varieties within three years.
       Source: TOI
2. CPCRI Issues Advisory to Control Arecanut Fruit Rot
   • What
     • The Central Plantation Crops Research Institute (CPCRI) has issued an advisory to farmers to manage ‘kole roga’ (fruit rot disease) in arecanut plantations.
   • Why
     • The advisory aims to help farmers control the spread of the disease, which has become prevalent due to continuous rains.
   • Tell me more
     • Farmers are advised to spray a 1% Bordeaux mixture or Mandipropamid 23.4% SC (1 ml per litre) on all bunches, even if fruit rot has not yet been observed.
     • In areas where fruit rot is severe, spraying should be done on both the crown and bud regions.
     • Proper drainage should be created to avoid water stagnation, and fallen diseased nuts should be removed from the garden.
     • Dolomite or lime should be applied at 1 kg per palm in September, followed by recommended fertilizers.

Source: TH

Important Days

1. World Biofuel Day – August 10
   • What
     • Theme: Sustainable Biofuels: Reducing Waste, Feeding Energy
   • Why
     • The day commemorates the successful operation of an engine on peanut oil by Sir Rudolf Diesel on August 9, 1893.
   • Tell me more
     • The Society of Indian Automobile Manufacturers (SIAM) hosted the 3rd International Conference on World Biofuel Day 2024 under its bio-initiative, themed “The Biofuel Revolution in India: Fueling Tomorrow.”

2. World Lion Day – August 10
   • Established by Big Cat Rescue, World Lion Day commemorates the majestic lions and their role in the ecosystem.
   • In India, the Asiatic lion is culturally significant and has seen population growth due to conservation efforts, increasing from 523 in 2015 to approximately 674 in 2020.
   • ‘Project Lion’ was launched on August 15, 2020, to secure the future of Asiatic lions through habitat improvement and monitoring.
   • The International Big Cats Alliance (IBCA) was launched in April 2023 to promote global cooperation in big cat conservation.
   • Modern technologies like GPS tracking and automated sensors are used for lion monitoring.
   • The lion is part of India’s national emblem, symbolizing strength and power.
     Source: PIB
3. World Steelpan Day 2024 – August 11
   • The steelpan (also known as a pan, steel drum, and sometimes, collectively with other musicians, as a steelband or steel orchestra) is a musical instrument originating in Trinidad and Tobago.
     Source: UN

Memorandum of Understanding

1. AIIA and Amity University Sign MoU for Collaboration
   • What
     • A Memorandum of Understanding (MoU) has been signed between the All India Institute of Ayurveda (AIIA) and Amity University to enhance collaboration in education, research, and technology.
   • Why
     • The MoU aims to promote joint educational programs, publications, and capacity-building projects, fostering academic excellence and technological advancement in the field of Ayurveda.
   • Tell me more
     • This agreement extends an ongoing five-year collaboration and facilitates the exchange of students and faculty for academic and research purposes.
     • AIIA has previously signed 40 MoUs with national technical institutions and 17 with international institutions to promote research in Ayurveda.

2. WHO and India Sign MoU for Medical Device Production
   • What
     • The World Health Organization (WHO) has signed a Memorandum of Understanding (MoU) with India for the production of medical devices.
   • Why
     • The MoU aims to promote indigenous manufacturing of medical devices, reducing reliance on imports and strengthening India’s position as a leader in healthcare innovation.
   • Tell me more
     • The MoU was signed between the WHO and the Sree Chitra Tirunal Institute for Medical Science and Technology (SCTIMST).
       • Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST) is an Institution of National Importance under the Department of Science and Technology.

3. India and Nepal Sign MoU for Munal Satellite Launch
   • What
     • The Ministry of External Affairs (MEA) and NewSpace India Limited (NSIL) have signed an MoU to facilitate the launch of Nepal’s Munal satellite.
   • Why
   • To assist Nepal in launching its indigenous satellite developed by the Nepal Academy of Science and Technology (NAST).
   • Tell me more
     • The Munal satellite aims to build a vegetation density database of the Earth’s surface.
     • Nepalese space startup Antarikchya Pratishan Nepal (APN) has assisted Nepalese students in designing and fabricating the satellite.
     • The satellite is expected to be launched soon on NSIL’s Polar Satellite Launch Vehicle (PSLV).

Source: ET

Appointments

1. Raj Kumar Chaudhary Appointed CMD of NHPC Limited
   • Raj Kumar Chaudhary has been appointed as the Chairman and Managing Director (CMD) of NHPC Limited.
     Source: NE

Miscellaneous

1. Issa Hayatou, Former FIFA Interim President, Passes Away
   • Issa Hayatou, former interim president of FIFA and president of the Confederation of African Football (CAF) passed away.
     Source: TH
2. Neelakurinji Listed as Threatened Species by IUCN
   • What
     • Neelakurinji (Strobilanthes kunthiana), a purplish flowering shrub known for its rare blooming cycle every 12 years, has been included in the IUCN Red List of threatened species for the first time.
   • Tell me more
     • The latest global assessment by IUCN categorizes Neelakurinji as “Vulnerable” under the A2c criteria.
     • The assessment was conducted by researchers from the Centre for Ecology Taxonomy Conservation and Climate Change (CEtC) and reviewed by the Western Ghats Plant Specialist Group.
     • Neelakurinji is an endemic shrub found in the high-altitude shola grassland ecosystems of five mountain ranges in southwest India.
     • Neelakurinji’s mass blooming phenomenon is a major tourist attraction in the Western Ghats region.
       Source: TH

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