18th July, 2024

1. ICAR Launches “One Scientist One Product” Program

2. ICAR Institutes Celebrate 96th Foundation and Technology Day

3. Supreme Court to Examine “Money Bill Route”

4. World’s First Biodiversity Bond Issued in Colombia

5. Chagos Islands Dispute: India Backs Mauritius

6. New Malaria Vaccine Rolled Out in Cote d’Ivoire

7. Missy Elliott Makes History: First Hip-Hop Song Transmitted to Venus by NASA

8. Sri Lanka Celebrates Kataragama Esala Festival

9. LIC Ties Up with IDFC First Bank for Online Insurance Sales

10. ADB Approves $240.5 Million Loan for Rooftop Solar in India

11. India Sees Surge in E-Waste Generation: UNCTAD’s Report

12. INS Delhi Wins Eastern Fleet Best Ship Award

13. World Day for International Justice – July 17

14. Spain Wins Fourth Euro Title

15. James Anderson Takes on New Role as England’s Bowling Mentor

16. First-Ever Olympic Esports Games to be Held in Saudi Arabia

17. HSBC Appoints New CEO

18. Subhash Dandekar, Founder of Camlin, Passes Away

National News

1. ICAR Launches “One Scientist One Product” Program
   • What
     • The Indian Council of Agricultural Research (ICAR) has launched a new five-year program called “One Scientist One Product”. This program aims to boost research productivity by assigning specific research targets to each of ICAR’s 5,521 scientists.
   • Why
     • To increase focus and efficiency in agricultural research efforts.
     • To reduce duplication of efforts among scientists.
     • To accelerate the development of new agricultural technologies and products.
   • Tell me more
     • The program was launched as part of ICAR’s 96th foundation day celebrations.
     • ICAR also announced the release of 323 new seed varieties across 56 crops, including cereals, oilseeds, forage crops, and sugarcane.
       • Nearly 90% (289) of these varieties are climate-resilient, and 27 are bio-fortified varieties.
     • Scientists will be required to identify and develop a product, technology, model, concept, or notable research publication at the beginning of each year.
     • “Products” are not limited to physical objects and can include research papers, new seed varieties, or innovative agricultural models.
     • Progress on these targets will be monitored quarterly at the institute level and bi-annually at ICAR headquarters (New Delhi).
     • The program is expected to run for five years with an initial focus on developing high-yielding varieties of pulses and oilseeds.

2. ICAR Institutes Celebrate 96th Foundation and Technology Day
   • What
     • The Indian Council of Agricultural Research (ICAR) celebrated its 96th Foundation and Technology Day on July 16th, 2024 across its Krishi Vigyan Kendras (KVKs) and Institutes in India.
   • Tell me more
     • ICAR Krishi Vigyan Kendra in Washim, Maharashtra
       • Organized an agricultural exhibition showcasing ICAR and SHG developed technologies and products.
       • Felicitated farmers and conducted a drone demonstration.
     • ICAR-Indian Institute of Agricultural Biotechnology (IIAB) in Ranchi, Jharkhand
       • Organized a mass plantation drive across six panchayats, planting over 10,000 fruit-bearing trees (litchi and mango) under the Tribal Sub Plan.
     • ICAR-Indian Institute of Soil and Water Conservation (IISWC) in Dehradun, Uttarakhand
       Distributed 950 saplings including mango, lime, jackfruit, and Quercus floribunda to promote crop diversification, improve farmer income, and enhance environmental conservation.

3. Supreme Court to Examine “Money Bill Route”
   • What
     • The Supreme Court has agreed to hear petitions challenging the government’s use of the “Money Bill route” to bypass the Rajya Sabha in passing legislation.
   • Why
     • To determine the constitutional validity of using the Money Bill route for non-financial legislation.
     • To address concerns about circumventing the Rajya Sabha’s role in the lawmaking process.
   • Tell me more

     Current Issue

     • The petitioners argue that the government has misused the Money Bill route to pass laws not solely related to financial matters.
     • This case comes ahead of the Union Budget on July 23rd, where the definition of a Money Bill holds significance.
     • The Aadhaar Act (2016) and amendments to the PMLA (2002) and FCRA (2010) were passed as Money Bills.
     • A previous Supreme Court case (Aadhaar Act) upheld the law but raised concerns about the Money Bill route’s potential misuse.

   Facts of Money Bill

   • Under Article 109, a Money Bill shall be introduced only in Lok Sabha and, upon passage, transmitted to Rajya Sabha for its “recommendations”.
   • Rajya Sabha must revert within 14 days, but it is up to Lok Sabha to accept or reject any or all of its recommendations.
   • If the Bill is not returned by Rajya Sabha within the stipulated period, it is considered passed anyway.
   • To ensure this process is not abused, Article 110 provides a strict definition of a Money Bill.
   • The Speaker of the Lok Sabha has the final say on whether a Bill is classified as a Money Bill, under the Article 110(3).
   • Money Bills typically deal with taxation, government spending, and financial matters.
     Source: IE

International News

1. World’s First Biodiversity Bond Issued in Colombia
   • What
     • BBVA Colombia and IFC (International Finance Corporation) launched the world’s first biodiversity bond worth US $70 million.
   • Why
     • To finance projects that address biodiversity loss and to promote sustainable management of natural resources
   • Tell me more
     • The initial tranche is US $15 million.
     • Funds will be directed towards reforestation, habitat restoration, and climate-smart agriculture.
     • IFC will help establish standards and raise awareness about biodiversity financing in Colombia.
     • BBVA Colombia previously financed over 214.8 billion Colombian pesos in biodiversity-related projects.

2. Chagos Islands Dispute: India Backs Mauritius
   • What
     • India has reaffirmed its support for Mauritius in its claim over the Chagos Archipelago, an Indian Ocean island chain.
   • Tell me more
     • Mauritius seeks to reclaim the Chagos Archipelago, currently a British Indian Ocean Territory housing a US military base.
     • External Affairs Minister S. Jaishankar met with Mauritius Prime Minister Pravind Jugnauth and pledged India’s continued support for their decolonization efforts.
     • Mauritius and India signed MoUs for a joint satellite project, curriculum research institute, and a Sanskrit chair at the Mahatma Gandhi Institute.
     • They also discussed technical assistance, defense cooperation, infrastructure development, and economic ties.

3. New Malaria Vaccine Rolled Out in Cote d’Ivoire
   • What
     • Cote d’Ivoire becomes the first country to launch the R21/Matrix-M malaria vaccine, co-developed by Serum Institute of India and Oxford University.
   • Why
     • To significantly reduce malaria cases and deaths, especially among children.
     • To introduce a highly effective and affordable vaccine for large-scale distribution.
   • Tell me more
     • The R21/Matrix-M vaccine is a low-dose, WHO-approved vaccine with over 75% efficacy against severe malaria.
     • Serum Institute of India is manufacturing the vaccine, aiming for 100 million doses annually at a cost below $4 per dose.
     • This rollout marks the first use of the second-ever malaria vaccine in Sub-Saharan Africa, alongside continued use of bed nets and other preventive measures.

4. Missy Elliott Makes History: First Hip-Hop Song Transmitted to Venus by NASA
   • What
     • NASA transmitted Missy Elliott’s song “The Rain (Supa Dupa Fly)” to Venus.
     • It mark a first-ever transmission of a hip-hop song into deep space.
   • Tell me more
     • The Deep Space Network (DSN) at NASA’s Jet Propulsion Laboratory facilitated the transmission.

5. Sri Lanka Celebrates Kataragama Esala Festival
   • What
     • Sri Lanka is celebrating the annual Kataragama Esala festival, known for its religious significance and cultural extravaganza.
   • Why
     • To honor the deity Kataragama Deviyo (Skanda) and showcase the country’s rich blend of faiths.
   • Tell me more
     • Kataragama Deviyo is a Hindu deity associated with war and wisdom, also worshipped by Buddhists in Sri Lanka.
     • The festival strengthens cultural ties between India and Sri Lanka.
       Source: NOA

Banking and Economy

1. LIC Ties Up with IDFC First Bank for Online Insurance Sales
   • What
     • Life Insurance Corporation of India (LIC) partnered with IDFC First Bank for bancassurance.
   • Why
     • To expand LIC’s customer base by leveraging IDFC First Bank’s online platform.

2. ADB Approves $240.5 Million Loan for Rooftop Solar in India
   • What
     • The Asian Development Bank (ADB) approved a $240.5 million loan to support rooftop solar systems in India under the Prime Minister’s Surya Ghar program .
   • Tell me more
     • The funds will be allocated to State Bank of India (SBI) and National Bank for Agriculture and Rural Development (NABARD) for loans to developers and end-users.
     • ADB contributes $90.5 million from its Clean Technology Fund (CTF) to SBI, and $150 million to NABARD (USD 80 million from ordinary capital resources and USD 70 million from CTF).

Source: ET

Report and Indices

1. India Sees Surge in E-Waste Generation: UNCTAD’s Report
   • What
     • India witnessed the highest growth globally (163%) in generating electronic waste (e-waste) from screens, computers, and small IT and telecommunication equipment (SCSIT) between 2010 and 2022, according to a UNCTAD report.
     • Name of the Report: ‘2024 Digital Economy Report: Shaping an environmentally sustainable and inclusive digital future’
   • Why
     • The report highlights the challenges of managing e-waste in developing countries.
   • Tell me more
     • India’s share in SCSIT waste generation doubled from 3.1% in 2010 to 6.4% in 2022.
     • Developing countries in Asia generate the most e-waste, with China contributing nearly half of it globally.
     • Improper e-waste management poses environmental and health risks due to hazardous materials like lead, mercury, and arsenic.
     • The report acknowledges India’s efforts to minimize packaging waste and promote sustainable transportation in the e-commerce sector.
     • The report predicts significant growth in mobile data traffic and 5G subscriptions in India by 2029.
     • The data center market size in Asia and the Pacific is expected to reach $28 billion by 2024, with China leading the market, followed by India and Singapore.

Source: ET UN

Awards

1. INS Delhi Wins Eastern Fleet Best Ship Award
   • What
     • INS Delhi was awarded the ‘Best Ship of the Eastern Fleet’ during the annual Fleet Awards Function.
   • Tell me more
     • The Fleet Awards Function acknowledges achievements of the Eastern Fleet over the past year.
     • INS Kavaratti won the ‘Best Ship’ among Corvettes/OPVs/LSTs category.
     • INS Shivalik, INS Sumedha, and INS Sumitra were recognized for their spirited contributions.

Source: TH

Important Days

1. World Day for International Justice – July 17
   • What
     • Every year on July 17, the World Day for International Justice promotes international criminal justice and fights against impunity for serious crimes.
   • Why
     • To highlight the role of the International Criminal Court (ICC) in prosecuting individuals for grave offenses.
   • Tell me more
     • World Day for International Justice coincides with the anniversary of the adoption of the Rome Statute, which established the ICC.
     • The ICC is the first permanent international tribunal prosecuting individuals for genocide, crimes against humanity, war crimes, and crimes of aggression.
     • The day raises awareness about international justice mechanisms in promoting global peace and security.

Source: BS

Sports

1. Spain Wins Fourth Euro Title
   • Spain defeated England 2-1 in the Euro 2024 final (Football championship) to claim a record fourth European Championship title.
     Source: ET
2. James Anderson Takes on New Role as England’s Bowling Mentor
   • James Anderson, after retiring from Test cricket, has been appointed as England’s bowling mentor for the remaining two matches of the Test series against the West Indies.
   • Muttiah Muralitharan and Shane Warne are the only bowlers ahead of Anderson in the all-time Test wicket-takers list.
     Source: ET

3. First-Ever Olympic Esports Games to be Held in Saudi Arabia
   • What
     • The International Olympic Committee (IOC) announced a partnership with the Saudi Arabian Olympic Committee to host the inaugural Olympic Esports Games in 2025.
     • Esports, short for electronic sports, are organized competitions using video games.
   • Why
     • To integrate esports into the Olympic Games and recognize its growing global significance.
     • To leverage Saudi Arabia’s expertise in esports and its commitment to gender equality in sports.
   • Tell me more
     • The partnership is for 12 years, with regular Olympic Esports Games planned.
     • Saudi Arabia boasts a young population with a large gaming community and a rapidly developing female esports scene.

Source: IOC

Appointments

1. HSBC Appoints New CEO
   • What
     • HSBC Holdings Plc. named Georges Elhedery, its current CFO, as the new Group CEO.
     • HSBC, headquartered in London, is Europe’s largest lender by assets with a 160-year history.
       Source: TOI

Miscellaneous

1. Subhash Dandekar, Founder of Camlin, Passes Away
   • What
     • Subhash Dandekar, the chairman emeritus of Kokuyo Camlin and a prominent figure in the Indian stationery industry, passed away at the age of 85.

Source: BS

Start Quiz of 18th July 2024 on Mobile

Start Quiz of 18th July 2024 on Desktop