14th August, 2024

1. Axis Bank and Visa Launched the “PRIMUS” Credit Card for India’s Elite
2. Axis Bank Launched “Sparsh Week 2024”; Reinforcing its Ethos of “Customer Delight”
3. IN approves MDL to Build 6 Submarines in Collaboration with Germany’s TKMS
4. Padma Bhushan Awardee & Former External Affairs Minister K Natwar Singh Passed Away
5. International Youth Day 2024 – August 12
6. World Elephant Day 2024 – August 12
7. AUKUS members signed an agreement for cooperation related to naval nuclear propulsion
8. Researchers have discovered anti-diabetic medicinal herb Gurmar on Gaya’s Brahmayoni Hill.
9. China Tests Largest Cargo Drone as Low-Altitude Economy Expands
10. Unsung Heroes of Freedom Struggle: Lakshmi Sahgal
11. NPCI Spins Off BHIM into a Separate Arm; Lalitha Nataraj Appointed CEO
12. Prasar Bharati-BCL Sign Landmark Deal to Promote Cricket
13. Partition Horrors Remembrance Day: Commemorating India’s Painful Past
14. India’s Industrial Production Growth Declines to 4.2% in June 2024
15. ICC Players of the Month for July 2024 Announced
16. PNB Launches Special Braille Debit Card for Visually Impaired Customers
17. Indian Railways and NCRTC Launch ‘One India-One Ticket’ Initiative
18. Amazon India and Gentari Partner to Expand EV Delivery Fleet
19. Ancient Maharashtra Rock Art Declared Protected Monument
20. Rwanda’s Kagame Sworn In For Fourth Term After 99 Percent Election Win
21. Haryana To Commence First-Ever Global Women’s Kabaddi League
22. Bharti Global to Acquire 24.5% Stake in BT Group
23. Book Launch Spotlight: ’75 Great Revolutionaries of India’
24. “King Khan” Receives Lifetime Award At Locarno Film Festival
25. India-New Zealand Sign Bilateral Customs Cooperation Agreement
26. UPI Merchant Transactions In Nepal Cross 100000 Milestone
27. Former Foreign Minister Natwar Singh Passes Away
28. India’s Merchandise Exports Expected to Grow by 4.2% in Q2 FY25: EXIM Bank Report

National News

1. ‘One India-One Ticket’ Initiative Launched for Seamless Travel
   • What
     • Indian Railways and the National Capital Region Transport Corporation (NCRTC) have introduced the ‘One India – One Ticket’ initiative to simplify travel for passengers on Namo Bharat trains and Indian Railways.
   • Why
     • The collaboration aims to integrate services into a seamless, user-friendly experience, promoting digitalization and eco-friendly practices while boosting tourism in the Delhi-NCR region.
   • Tell me more
     • A unique QR code will be generated for each ticket booked, valid for up to four days, ensuring a hassle-free travel experience.
     • Passengers can book Namo Bharat tickets up to 120 days in advance through the IRCTC platform, with the option to book even without purchasing a railway ticket for same-day travel.
     • Upon successful purchase, customers will receive an email and SMS with their unique RRTS QR code, sent to their registered email address and mobile number.
     • The fare for the Namo Bharat train, along with a nominal IRCTC convenience fee (INR 5 + taxes), can be paid online through the IRCTC platform.
     • In case of cancellation, passengers will receive a full refund of the RRTS fare, though the IRCTC convenience fee, payment gateway charges, and applicable taxes will be non-refundable.
     • At station entrance gates, passengers can scan their RRTS QR codes using the ERS or mobile app to proceed with their journey.
       Source: ET
2. President Droupadi Murmu Engages with New Zealand Leaders
   • What
     • President Droupadi Murmu held bilateral talks with New Zealand Prime Minister Christopher Luxon and Deputy Prime Minister Vinston Peters, focusing on various cooperative initiatives.
   • Why
     • The discussions aimed to strengthen bilateral relations between India and New Zealand, particularly in areas such as trade, traditional medicine, and renewable energy.
   • Tell me more
     • The meeting resulted in the signing of a bilateral customs cooperation arrangement to facilitate trade between the two nations.
     • New Zealand ratified the International Solar Alliance, enhancing opportunities for joint research and development in solar energy.
     • Both countries agreed to exchange best practices in traditional medicine through the Global Centre for Traditional Medicine in Jamnagar, India.
       Source: NOA

State News

1. Maharashtra Declares Ratnagiri Geoglyphs Protected Monuments
   • What
     • The Maharashtra government has declared the geoglyphs and petroglyphs in Ratnagiri as protected monuments under the Maharashtra Ancient Monuments and Archaeological Sites and Remains Act, 1960.
   • Tell me more
     • The petroglyphs at Deud, Ratnagiri, are estimated to be around 20,000 to 10,000 years old.
     • The protected area surrounding the monuments is 210 square meters.
     • The petroglyphs depict various animals, including a rhino, deer, monkey, and donkey, as well as footprints.
     • Ratnagiri is home to over 1,500 geoglyphs across 70 sites, with seven of these sites on UNESCO’s tentative World Heritage list.
     • Concerns have been raised by conservationists regarding a proposed oil refinery in Barsu, which could potentially damage the geoglyphs.

Source: ET

International News

1. AUKUS Partners Sign Submarine Cooperation Agreement
   • What
     • Australia, the United Kingdom, and the United States have signed an agreement to enable cooperation essential for Australia’s capacity to safely build, operate, and maintain conventionally-armed, nuclear-powered submarines.
   • Why
     • The agreement aims to facilitate the transfer of submarine-specific material, equipment, and information among AUKUS partners, enabling Australia’s acquisition of a sovereign nuclear-powered submarine capability.
   • Tell me more
     • The agreement will allow Australia to receive Virginia-class submarines from the US and submarine equipment from the UK for its future SSN-AUKUS submarines.
     • Starting in 2027, US and UK submarines will rotate through Australia’s HMAS Stirling naval base in Western Australia.
     • The agreement emphasizes safety, security, and following international non-proliferation rules.
     • Australia’s future SSN-AUKUS submarines will be built in South Australia, with sealed power units that won’t need refueling.
     • This deal replaces an earlier agreement made in 2022 about sharing nuclear propulsion information.
     • Australia will handle all waste from the submarines and won’t process spent fuel or reactors from other countries.
     • The AUKUS partnership focuses on non-proliferation, with Australia affirming it will not develop nuclear weapons and will remain a non-nuclear weapons state.
       Source: AU
2. China Tests Largest Cargo Drone to Boost Low-Altitude Economy
   • What
     • China has conducted a test flight of its largest cargo drone, developed by Sichuan Tengden Sci-tech Innovation Co, with a payload capacity of 2 metric tons.
   • Why
     • The test flight is part of China’s efforts to expand its low-altitude economy, which is projected to become a $279-billion industry by 2030.
   • Tell me more
     • The twin-engine cargo drone took off in southwestern Sichuan province for an inaugural flight lasting approximately 20 minutes.
       Source: BS

Banking and Economy

1. Axis Bank Launches Primus Credit Card and Sparsh Week 2024
   • What
     • Axis Bank has launched the ‘Primus’ credit card, an ultra-premium offering designed exclusively for high-net-worth individuals, alongside the Sparsh Week 2024 initiative aimed at enhancing customer experience.
   • Why
     • The launch of the Primus credit card is a strategic move to strengthen Axis Bank’s position in the premium segment, while Sparsh Week focuses on transforming customer obsession into a continuous process to foster loyalty.
   • Tell me more
     • The Primus card is available by invitation only, with a joining fee of Rs. 5 lakh and an annual fee of Rs. 3 lakh.
     • Sparsh Week runs from August 5th to 9th and includes customer-focused activities such as MasterClasses and Panel Discussions.
     • Exclusive offers during Sparsh Week include health insurance, vehicle loans, and home loans.
     • Primus cardholders have access to bespoke luxury experiences, including private jet access and invitations to exclusive events.

2. NPCI Launches Subsidiary for BHIM Payments App
   • What
     • The National Payments Corporation of India (NPCI) has created a new subsidiary called NPCI BHIM Services Ltd (NBSL) to manage the Bharat Interface for Money (BHIM) payments app.
   • Why
     • The new subsidiary aims to address the growing demand for digital transactions and promote financial inclusion in India.
   • Tell me more
     • Lalitha Nataraj has been appointed as the CEO of NPCI BHIM Services Ltd.
     • The move comes as NPCI seeks to strengthen its position in the digital payments market, which is currently dominated by Google Pay and PhonePe.
     • The BHIM app will continue to operate under the NPCI brand but will have its own financial structure.
     • This initiative reflects a commitment to enhancing India’s digital payment ecosystem and maintaining a sovereign digital payments framework.

3. India’s Industrial Production Grows 4.2% in June
   • What
     • India’s Index of Industrial Production (IIP) recorded a growth of 4.2% in June 2024, compared to 6.2% in May.
   • Why
     • The growth indicates a slowdown in industrial activity, influenced by factors such as reduced government capital expenditure and weak rural demand.
   • Tell me more
     • The IIP for June 2024 stands at 150.0, up from 143.9 in June 2023.
     • The mining sector grew by 10.3%, manufacturing by 2.6%, and electricity by 8.6%.
     • The capital goods segment saw a growth of 2.4%, while consumer durables surged by 8.6% and non-durable consumer goods contracted by 1.4%.
     • The top contributors to IIP growth were primary goods, consumer durables, and infrastructure/construction goods.

4. PNB Launches Braille Debit Card for Visually Impaired
   • What
     • Punjab National Bank (PNB) has launched the PNB ANTAH DRISHTI Braille Debit Card, a new contactless NCMC (National Common Mobility Card) Debit Card designed specifically for visually impaired customers.
   • Tell me more
     • The debit card is available on the RuPay network and can be obtained by visually impaired individuals with savings or current accounts at PNB from any of the nearest PNB branches.
     • The ATM limit (cash withdrawal) per day is Rs 25,000, and the PoS and eCom limits (combined) per day are Rs 60,000. Contactless transactions are accessible for individual transactions up to Rs. 5000/- without a PIN at NFC capable POS Terminals, with a daily overall limit of Rs. 5000.
     • The debit card features raised Braille dots for the “PNB” brand name, a rounded notch on the opposite side of the chip for easy identification, a glossy spot UV lamination effect with raised texture on the Bank’s logo and silk screen rough spot UV on the contactless symbol, and contrasting colors for better readability.
       Source: ET
5. Amazon Partners with Gentari to Expand EV Fleet
   • What
     • Amazon India has announced a partnership with Gentari Green Mobility India to enhance its electric vehicle (EV) fleet for last-mile deliveries, aiming to reach 10,000 units by 2025.
   • Why
     • The collaboration seeks to scale up EV adoption across more than 400 cities in India and improve the sustainability of Amazon’s delivery operations.
   • Tell me more
     • Gentari will provide Amazon with access to over 3,000 three-wheeler EVs and offer comprehensive fleet management services to delivery service partners (DSPs).
     • Amazon has already deployed over 7,200 EVs and is on track to achieve its goal of 10,000 EVs by 2025.
       Source: HBL
6. Bharti Enterprises to Acquire Stake in BT Group
   • Bharti Enterprises, led by Sunil Bharti Mittal, plans to purchase a 24.5% stake in BT Group, the largest broadband and mobile provider in Britain, for approximately £3.2 billion ($4 billion).
     Source: TOI
7. NIPL Surpasses 100,000 UPI Transactions in Nepal
   • What
     • NPCI International Payments Limited (NIPL) has achieved over 100,000 cross-border Unified Payments Interface (UPI) Person-to-Merchant (P2M) transactions in Nepal.
   • Tell me more
     • NIPL collaborated with Fonepay, Nepal’s largest payment network, to launch cross-border UPI P2M acceptance in March 2024.
     • UPI is widely accepted in several countries, including Bhutan, France, Mauritius, Singapore, Sri Lanka, and the UAE.
     • NIPL has also partnered with Nepal SBI Bank Limited (NSBL) to operationalize RuPay cards in Nepal, further enhancing financial transactions.

8. India’s Merchandise Exports to Slow in Q2 FY25
   • What
     • India’s merchandise exports growth is projected to slow down to 4.2% year-on-year at $111.7 billion in the second quarter of FY25, compared to 5.8% in the June quarter.
   • Why
     • The slowdown in export growth is attributed to risks such as uncertain prospects for advanced economies, geopolitical shocks, the Middle East crisis, global supply chain disruptions, and deepening geo-economic fragmentation.
   • Tell me more
     • The Export-Import Bank of India (Exim Bank) has released this quarterly forecast for India’s merchandise exports and non-oil exports.
     • This forecast is based on Exim Bank’s Export Leading Index (ELI) model, which incorporates various external and domestic factors influencing India’s export performance.
     • Non-oil exports are expected to grow 6.26% year-on-year to $89.8 billion in the September quarter.
     • Merchandise exports stood at $109.9 billion in April-June.
     • The positive growth rate in total merchandise exports and non-oil exports witnessed in the previous three quarters is likely to continue.
       Source: ET

Defence News

1. Indian Navy Clears MDL to Build Six Submarines
   • What
     • The Indian Navy has cleared Mazagon Dock Limited (MDL) to build six submarines with a projected cost of up to Rs 60,000 crore.
   • Tell me more
     • MDL, in partnership with Germany’s ThyssenKrupp, was competing against Larsen & Toubro and Navantia.
     • The submarines will be equipped with an Air-Independent Propulsion (AIP) system, allowing them to stay underwater longer.
     • Project 75 India aims to acquire diesel-electric attack submarines with AIP technology, making them larger and more advanced than current models.

Source: IN

Agriculture and Rural Development

1. Researchers Discover Medicinal Plants in Gaya
   • What
     • A team of researchers has uncovered a variety of medicinal plants at Brahmayoni Hill in Gaya, Bihar, with Gymnema sylvestre, commonly known as Gurmar, being one of the notable findings.
     • The Council of Scientific and Industrial Research (CSIR) has utilized Gurmar in developing the anti-diabetic drug BGR-34.
   • Tell me more
     • Gurmar is one of three medicinal plants found on Brahmayoni Hill, which has been a source of natural remedies for traditional healers for centuries.
     • In 2022, a study by AIIMS Delhi validated that BGR-34 is effective in reducing obesity and improving metabolic health.
     • The first diabetes drug, Metformin, was derived from the medicinal plant Galega, underscoring the potential for new discoveries in herbal medicine.
       Source: ET

Awards

1. Shah Rukh Khan Honored at Locarno Film Festival
   • What
     • Bollywood superstar Shah Rukh Khan was honored with a lifetime achievement award at the 77th Locarno Film Festival, becoming the first Indian personality to receive this accolade.
   • Why
     • The award recognizes Khan’s significant contributions to cinema over his 35-year career and his influence as a global film icon.
   • Tell me more
     • The Locarno Film Festival is held annually in Switzerland and is known for celebrating artistic films.
     • The award he received is known as Pardo alla Carriera, or Career Leopard.
       Source: HT

Important Days

1. International Youth Day – August 12
   • Theme 2024: From Clicks to Progress: Youth Digital Pathways for Sustainable Development
     Source: UN
2. World Elephant Day 2024 – August 12
   • Theme: “Personifying prehistoric beauty, theological relevance, and environmental importance”
   • World Elephant Day was established on August 12, 2012, by Patricia Sims and the Elephant Reintroduction Foundation of Thailand.
   • Elephants are classified into two main species: Asian and African elephants.
   • The Wildlife (Protection) Act, 1972, lists elephants under Schedule I, providing them with the highest level of protection.
     Source: BS
3. Partition Horrors Remembrance Day – August 14
   Source: TH

Sports

1. Big Cricket League Partners with Prasar Bharati
   • What
     • The Big Cricket League (BCL), a franchise-based T20 event, has signed a landmark long-term deal with Prasar Bharati, the national broadcaster of India.
   • Why
     • The partnership aims to provide a platform for aspiring local cricketers to play alongside international stars and promote the sport across the country.
   • Tell me more
     • The inaugural edition of BCL will be held in September 2024 in Lucknow.
     • BCL will be broadcast live on DD Sports across India, and Prasar Bharati will promote the league across its network.
     • The first season of BCL will be televised internationally in more than 30 countries.
     • The league will feature six teams: Awadh Lions, Northern Challengers, Rajasthan Kings, Mumbai Marines, Southern Spartans, and Bengal Rhinos.

2. Atkinson and Athapaththu Crowned ICC Players of the Month for July 2024
   • What
     • The International Cricket Council (ICC) has revealed England’s Gus Atkinson and Sri Lanka’s Chamari Athapaththu as the ICC Players of the Month in men’s and women’s categories respectively for July 2024.
   • Why
     • The awards recognize outstanding individual performances in international cricket during the month of July.
       Source: ICC
3. Global Pravasi Women’s Kabaddi League Set to Launch in Haryana
   • What
     • The first-ever Global Pravasi Women’s Kabaddi League (GPKL) will commence next month in Haryana, featuring female athletes from over 15 countries.
   • Why
     • The league aims to promote kabaddi internationally and support efforts to include the sport in the Olympic Games, contributing to India’s bid to host the 2036 Olympics.
   • Tell me more
     • The GPKL is organized by the Holistic International Pravasi Sports Association (HIPSA) in partnership with World Kabaddi.
     • A Memorandum of Understanding (MoU) was signed between HIPSA and the Government of Haryana to facilitate the initiative.
     • The International Olympic Committee (IOC) has a Future Host Commission dedicated to managing matters related to hosting the Olympics.
       Source: NOA

Appointments

1. Rwanda’s New President
   • Paul Kagame has been sworn in for a fourth term as Rwanda’s president.
     Source: BBC

Miscellaneous

1. Veteran Congress Leader K Natwar Singh Passes Away
   • Veteran Congress leader and former External Affairs Minister K Natwar Singh passed away at the age of 93.
   • Singh resigned from the Congress party in 2008 after a nearly 25-year association and authored an autobiography titled “One Life Is Not Enough.”
     Source: IE
2. ’75 Great Revolutionaries of India’ Book Launched
   • Author: Rajya Sabha MP Bhim Singh
     Source: SS
3. Former Foreign Minister Natwar Singh Passes Away
   • Veteran Congress leader and former External Affairs Minister K Natwar Singh passed away.
     Source: IT

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