17th July, 2024
Harela Festival, Europe’s Ariane-6 Rocket, Maiden Flight, Ministry of Finance, GSTR-1A Form, Kotak Bank, Kotak811 Banking App, BranchX, ONDC-based Personal Loan Solution, SBI, Amrit Vrishti, Fixed Deposit Scheme, India, Zero-Dose Children, 2023, ADB, India’s GDP Growth, 2024, IMF, GDP Growth Projection, 2024-25, Sudarshan Pattnaik, Golden Sand Master Award, Madhya Pradesh, World Record, Tree Plantation, Indore, India, Medals, 35th International Biology Olympiad 2024, Wimbledon Championship 2024, 137th Edition, India, Agreement, Marshall Islands, Community Development, Sumant Sinha, Co-Chair, Alliance of CEO Climate Leaders, Roberta Metsola, European Parliament President, Rwandan President, Paul Kagame, Fourth Term, Manoj Saunik, MahaRERA Chairman, Tim Walker, Historical Fiction, Bhopal Tragedy
- Harela Festival Celebrated in Uttarakhand and Himachal Pradesh
- Europe’s Ariane-6 Rocket Successfully Launches on Maiden Flight
- Ministry of Finance Notifies GSTR-1A Form
- Kotak Bank Revamps Kotak811 Banking App
- BranchX Launches India’s First ONDC-based Personal Loan Solution
- SBI Launches ‘Amrit Vrishti’ Fixed Deposit Scheme
- India Ranks Second in Zero-Dose Children in 2023
- ADB Projects India’s GDP Growth at 7% for 2024
- IMF Raises India’s GDP Growth Projection for 2024-25
- Sudarshan Pattnaik Wins Golden Sand Master Award
- Madhya Pradesh Sets World Record for Tree Plantation in Indore
- India Won Medals at the 35th International Biology Olympiad 2024
- Wimbledon Championship 2024 (137th Edition)
- India Signs Agreement with Marshall Islands for Community Development
- Sumant Sinha Named Co-Chair of Alliance of CEO Climate Leaders
- Roberta Metsola Elected European Parliament President
- Rwandan President Paul Kagame Wins Fourth Term
- Manoj Saunik Appointed as MahaRERA Chairman
- Tim Walker Publishes Historical Fiction on Bhopal Tragedy
Table of Content
State News
- Harela Festival Celebrated in Uttarakhand and Himachal Pradesh
- What:
- The Harela festival, an auspicious Hindu festival, is being celebrated on July 16, 2024.
- It is primarily observed in Uttarakhand and certain parts of Himachal Pradesh.
- Why:
- It marks the beginning of the planting season in agricultural fields, making it a significant event for farmers.
- Harela also corresponds with the ceremonial observance of Shiva and Parvati’s marriage.
- What:
| Knowledge Nuggets |
|---|
|
• In Himachal Pradesh, Harela is mainly celebrated in Kangra, Shimla, Sirmour, and Dakhrain in the Jubbal and Kinnaur regions. • The celebration in Himachal Pradesh is referred to as Hariyali or Rihyali, where prayers are offered for wealth and a bountiful crop. |
Source: TOI
International News
- Europe’s Ariane-6 Rocket Successfully Launches on Maiden Flight
- What:
- Europe’s new rocket, Ariane-6, launched successfully from French Guiana.
- Why:
- Ariane-6 is designed to give European governments and companies independent access to space.
- It aims to be a workhorse rocket for various payloads, ensuring Europe’s competitive edge in space launches.
- What:
| Knowledge Nuggets |
|---|
|
• The European Space Agency (ESA) led the Ariane-6 project with France and Germany as major contributors. • ESA Year of Establishment: 1975 |
Source: BBC
Banking and Economy
- Ministry of Finance Notifies GSTR-1A Form
- What
- The Ministry of Finance has introduced a new form called GSTR-1A. This form allows taxpayers to make changes to their outward supply or sales return details.
- Why
- The GSTR-1A form was launched to help taxpayers correct any errors in their GSTR-1 form. This ensures the correct tax amount is automatically filled in their GSTR-3B form, making the process more accurate and reducing mistakes.
- Tell me more
- The GSTR-1A form lets taxpayers correct or add details to their current tax period’s supply information to ensure accuracy in the GSTR-3B form.
- This form can be used to amend details in the GSTR-1 form for a specific tax period or to add any missing information. However, taxpayers must submit the GSTR-1A form before filing their GSTR-3B return for that period.
- Last month, the GST Council recommended adding the GSTR-1A form as an optional tool for taxpayers.
- What
| Knowledge Nuggets |
|---|
| • GST taxpayers file their outward supply return (GSTR-1) by the 11th of the next month, and the GSTR-3B return is filed between the 20th and 24th of the following month. • Taxpayers with an annual turnover of up to Rs 5 crore can file GSTR-1 quarterly, by the 13th day after the quarter ends, while GSTR-3B is filed between the 22nd and 24th of the following month. |
Source: TH
- Kotak Bank Revamps Kotak811 Banking App
- What
- Kotak Bank has revamped its Kotak811 banking app, introducing an enhanced user interface and a range of new features to improve secure UPI payments, transaction monitoring, and more.
- Why
- Kotak811 is designed to offer a seamless and secure banking experience, enhancing customer convenience and security.
- The app’s features aim to simplify banking processes and improve user experience with integrated services.
Source: TOI
- What
- BranchX Launches India’s First ONDC-based Personal Loan Solution
- What
- BranchX, a leading neobank, has launched India’s first personal loan solution through the Open Network for Digital Commerce (ONDC) to enhance financial inclusion.
- Tell me more
- The ONDC framework, an initiative by the Indian government, forms the backbone of BranchX’s lending solution.
- BranchX’s personal loan product features a digital-first approach, ensuring a paperless and transparent process from application to disbursement.
- What
| Knowledge Nuggets |
|---|
| • BranchX is a leading fintech neobank offering innovative and accessible financial solutions using Voice AI. • BranchX aims to leverage Account Aggregator and Digital Public Infrastructure to ensure a seamless, paperless journey for loan applicants. • Products include the Raja Rani card for managing family expenses and micro-saving products linked to gold investments and jewelry. • BranchX CEO: Rajesh Johnny |
Source: Print
- SBI Launches ‘Amrit Vrishti’ Fixed Deposit Scheme
- What:
- The State Bank of India (SBI) has launched the ‘Amrit Vrishti’ fixed deposit scheme, offering a 7.25% interest rate on deposits for 444 days.
- Why:
- The scheme aims to provide a special term deposit option to meet the diverse requirements of SBI’s customers and help them grow their wealth.
- Tell me more:
- The ‘Amrit Vrishti’ scheme is available from July 15, 2024, to March 31, 2025.
- Senior citizens receive an additional 0.50% interest rate, bringing their total interest rate to 7.75% per annum.
- The scheme applies to Domestic Retail Term Deposits, including NRI Rupee Term Deposits, with deposits less than Rs 3 crore.
- What:
| Knowledge Nuggets |
|---|
| • The base interest rate on the 'Amrit Vrishti' FD is 7.25% per annum. • The fixed deposit period for this scheme is 444 days. • Chairman of SBI: Dinesh Khara |
Source: BS
Report and Indices
- India Ranks Second in Zero-Dose Children in 2023
- What
- In 2023, India had the second highest number of children who did not receive any vaccines, with nearly 16 lakh zero-dose children. Nigeria had the most, with 21 lakh zero-dose children.
- This data was published jointly by the World Health Organization (WHO) and UNICEF.
- Why
- The purpose behind this data is to highlight the urgent need for countries, especially those in the South-East Asia Region, to strengthen efforts to identify and immunize unvaccinated and under-vaccinated children.
- Tell me more
- India improved its rank from 2021, when it had the highest number of zero-dose children globally at 27.3 lakh.
- Other countries with high numbers of zero-dose children in 2023 include Ethiopia, Congo, Sudan, and Indonesia.
- China ranks 18th, and Pakistan is 10th on the list.
- In 2023, India had the third highest number of children who did not receive the first dose of the measles-containing vaccine (MCV1) at nearly 16 lakh.
- What
| Knowledge Nuggets |
|---|
| • UNICEF (United Nations International Children's Emergency Fund) was established on December 11, 1946. Its headquarters is in New York City, USA. • The organization is funded entirely by voluntary contributions from governments and private donors. • UNICEF works in over 190 countries and territories to save children's lives, defend their rights, and help them fulfill their potential. • Catherine Russell is the current Executive Director of UNICEF. |
GDP Forecasts
- ADB Projects India’s GDP Growth at 7% for 2024
- What:
- The Asian Development Bank (ADB) projects India’s GDP growth at 7% for 2024, in its Asia Development Outlook July report.
- Inflation in India is expected to average 4.6% this year.
- Why:
- The projections provide an economic outlook for India’s growth and inflation rates and help in understanding the country’s economic stability and growth trajectory.
- Tell me more:
- 2025-26 GDP Forecast: 7.2% for India
- 2025-26 CPI Inflation Forecast: 4.5%
- Other Forecasts:
The ADB also maintained its 4.5% growth projection for China in 2024.China’s inflation estimate for 2024 was reduced from 1.1% to 0.5%.
Developing Asia’s overall growth is projected to be 5%, up from the 4.9% estimated in April.
- What:
| Knowledge Nuggets |
|---|
| • The ADB publishes the Asia Development Outlook report to provide economic analysis and forecasts. • The projections include various countries' GDP growth and inflation rates. • Economic projections are crucial for policy planning and decision-making. |
Source: TH
- IMF Raises India’s GDP Growth Projection for 2024-25
- What
- The International Monetary Fund (IMF) has increased its GDP growth forecast for India for the fiscal year 2024-25 to 7%, up by 20 basis points from its previous projection.
- Why
- The revision reflects positive effects from higher growth in 2023, driven by increased private consumption, especially in rural areas.
- Tell me more
- IMF Forecast for Previous Years:
- 2023-24: 8.2%
- 2022-23: 7%
- RBI’s Forecast For Current Year:
- 2024-25: 7.2%
- IMF China Forecast:
- China: 5% for 2024-25
- IMF Global Forecast:
- 2024-25: 3.2%
- 2025-26: 3.3%
- IMF Forecast for Previous Years:
- What
| Knowledge Nuggets |
|---|
| • Global inflation is expected to ease to 5.9% in 2024 from 6.7% in the previous year, signaling a gradual return to pre-pandemic levels amid receding headline shocks. • Pierre-Olivier Gourinchas, IMF Chief Economist, highlighted that Asia's emerging markets, including India and China, are key drivers of global economic growth. |
Source: BS
Awards
- Sudarshan Pattnaik Wins Golden Sand Master Award
- What
- Odisha Chief Minister Mohan Charan Majhi felicitated sand artist Sudarshan Pattnaik for winning the Golden Sand Master Award with a gold medal.
- The award was won at the International Sand Sculpture Championship held in St. Petersburg, Russia.
- Tell me more
- At the International Sand Sculpture Championship in St. Petersburg, held between July 4-12 with a theme of history, mythology, and fairy tales, Pattnaik created a 12-foot sand sculpture of Mahaprabhu Jagannath and his devotee, the 14th-century poet Balaram Das.
- He was the sole participant from India among 21 master sand sculptors from around the world.
- What
| Knowledge Nuggets |
|---|
| • Sudarshan Pattnaik is a Padma Shri awardee, India's 4th highest civilian award. • He runs a sand art school at Puri Beach in Odisha. • Pattnaik has participated in more than 65 international sand art competitions and festivals. • He uses his sand art to spread awareness on social issues such as HIV, AIDS, global warming, stopping terrorism, beating plastic pollution, COVID-19, and saving the environment. |
Source: ET
- Madhya Pradesh Sets World Record for Tree Plantation in Indore
- What:
- The Madhya Pradesh government set a world record for planting the maximum number of trees within 24 hours in Indore.
- More than 12 lakh trees were planted, breaking the previous record held by Assam.
- Why:
- The initiative aims to enhance environmental protection and public awareness about tree plantation.
- The campaign ‘Ek Ped Maa Ke Naam’ is a tribute to mothers and Mother Earth, promoting environmental sustainability.
- Tell me more:
- Union Home Minister Amit Shah participated in the ‘Ek Ped Maa Ke Naam’ program in Indore.
- The campaign ‘Ek Ped Maa Ke Naam’ was initiated by Prime Minister Narendra Modi on World Environment Day.
- Indore is known for its cleanliness, food, and good governance, and will now also be recognized as a green city.
- Amit Shah inaugurated 55 Prime Minister Colleges of Excellence in Madhya Pradesh on the same day.
Source: TOI
- What:
- India Won Medals at the 35th International Biology Olympiad 2024
- What:
- Location: Astana, Kazakhstan
- Awards by Indians: 1 GOLD medal and 3 SILVER medals
- Vedant Sakre (GOLD) from Mumbai, Maharashtra
- Ishan Pednekar (SILVER) from Ratnagiri, Maharashtra
- Shrijith Sivakumar (SILVER) from Chennai, Tamil Nadu
- Yashashwi Kumar (SILVER) from Bareilly, Uttar Pradesh
- Tell me more:
- The Indian team was led by Prof. Sasikumar Menon from TDM Lab, Mumbai, and Dr. Mayuri Rege from Homi Bhabha Centre for Science Education (HBCSE), TIFR.
- Two Scientific Observers accompanied the team: Dr. Rajesh Patkar from IIT Bombay, and Dr. Devesh Suthar from M. S. University, Baroda.
- This year’s IBO had 305 students from 80 countries, with 29 gold medals awarded.
- The competition included four 1.5-hour experimental exams and two 3.25-hour theory exams covering various topics like Animal Anatomy, Molecular Biology, and Biochemistry.
- What:
| Knowledge Nuggets |
|---|
| • Homi Bhabha Centre for Science Education (HBCSE) is the nodal center for India's national Olympiad program in basic sciences and mathematics. • The Olympiad program in India includes stages organized by the Indian Association of Physics Teachers (IAPT) and other teacher associations. • The program aims to promote excellence in science and mathematics among pre-university students. • The IBO tests included advanced practical tasks such as sheep eyeball dissection and plasmid purification, alongside theory exams on cutting-edge topics in plant biology, cell biology, ethology, and biosystematics. |
Source: PIB
Sports
- Wimbledon Championship 2024 (137th Edition)
- What:
- Location: All England Lawn Tennis and Croquet Club in London, England
- Winners:
- Men’s Singles: Carlos Alcaraz (Spain)
- Women’s Singles: Barbora Krejčíková (Czech Republic)
- What:
| Knowledge Nuggets |
|---|
| • The four major tennis tournaments, also known as the Grand Slam tournaments, are the Australian Open, French Open (also known as Roland Garros), Wimbledon, and US Open. |
Source: TC
Memorandum of Understanding
- India Signs Agreement with Marshall Islands for Community Development
- What
- India signed an agreement with the Marshall Islands to provide an annual grant for four community development projects. The signing took place at the Indian embassy in Tokyo.
- Why
- The agreement aims to enhance infrastructure and support sustainable development in the Marshall Islands, aligning with India’s commitments at the Forum of India-Pacific Islands Cooperation (FIPIC).
- This move is part of India’s outreach to Pacific Island states, amidst increased engagement by Quad members and China’s influence in the region.
- Tell me more
- The projects include a community sports centre in Ailuk Atoll, an airport terminal on Mejit Island, and community centres at Arno and Wotje Atolls.
- What
| Knowledge Nuggets |
|---|
| • The Forum of India-Pacific Islands Cooperation (FIPIC) is a significant platform for India’s engagement with the Pacific Island nations. • FIPIC Year of Formation: 2014 |
Source: HT
Appointments
- Sumant Sinha Named Co-Chair of Alliance of CEO Climate Leaders
- What:
- Sumant Sinha, Chairman and CEO of ReNew, has been appointed as Co-Chair of the Alliance of CEO Climate Leaders.
- This alliance is the largest CEO-led climate group globally and a flagship initiative of the World Economic Forum (WEF).
- Why:
- The Alliance aims to drive systemic action and foster public-private collaboration in the global energy transition.
- What:
| Knowledge Nuggets |
|---|
| • The Alliance comprises 130 member CEOs from 12 industries, representing $4 trillion in revenues and responsible for 5.2 gigatonnes of carbon emissions annually. • The Alliance of CEO Climate Leaders is instrumental in global energy transition efforts. • The Alliance focuses on innovative solutions for decarbonization. • ReNew, under Sinha's leadership since 2019, has achieved a 1.5°C-aligned science-based target validated by the Science Based Targets initiative (SBTi). |
Source: ET
- Roberta Metsola Elected European Parliament President
- What:
- Roberta Metsola won the European Parliament presidential election.
- Tell me more:
- Metsola is the third female President of the European Parliament, following Simone Veil (1979-1982) and Nicole Fontaine (1999-2002).
Source: Europa
- Metsola is the third female President of the European Parliament, following Simone Veil (1979-1982) and Nicole Fontaine (1999-2002).
- What:
- Rwandan President Paul Kagame Wins Fourth Term
- What:
- President Paul Kagame secured a resounding victory in Rwanda’s presidential election.
- What:
| Knowledge Nuggets |
|---|
| • The capital of Rwanda is Kigali, and its currency is the Rwandan franc. |
Source: TH
- Manoj Saunik Appointed as MahaRERA Chairman
- What
- Manoj Saunik has been appointed as the next chairman of Maharashtra Real Estate Regulatory Authority (MahaRERA), succeeding Ajoy Mehta.
- Tell me more
- He served as the chief secretary of Maharashtra from May 2023 to December 2023.
- What
| Knowledge Nuggets |
|---|
| • Manoj Saunik's wife, Sujata Saunik, is currently the chief secretary of Maharashtra. • MahaRERA was established to regulate the real estate sector and protect homebuyers' interests and ensure transparency and accountability in real estate transactions. |
Source: HT
Miscellaneous
- Tim Walker Publishes Historical Fiction on Bhopal Tragedy
- What:
- Tim Walker, a designer-turned-author, has published his second book titled The Prisoner of Bhopal, a historical fiction novel based on the Bhopal gas tragedy.
- Why:
- The book aims to educate children of the present generation about the Bhopal gas tragedy, a catastrophe they were not witness to.
- Tell me more:
- The book was published in the year commemorating the 40th anniversary of the Bhopal disaster.
- What:
| Knowledge Nuggets |
|---|
| • Tim Walker became popular with his action-adventure trilogy published in 2007, including Shipley Manor, The Flying Fizzler, and Rise of the Rattler. • The gas that leaked during the Bhopal gas tragedy in 1984 was methyl isocyanate (MIC). |
Source: TH
About Anuj Jindal
━━━━━
Anuj Jindal, the founder, is an ex-manager from SBI, with an M.Com from Delhi School of Economics. He also has a JRF in Commerce & Management and NET in HRM, along with more than 5 years of experience in the field of Education.
0 Comments