20th July, 2024

1. ISRO Creates First Underwater Map of Ram Setu
   2. India, Malaysia Boost Cooperation in Agriculture
   3. Centre of Excellence on 6G Technology Inaugurated at IIT Madras
   4. BIS Partners with IISc to Establish Standardization Chair Professor
   5. Maharashtra Announces Ladka Bhau Yojana for Skilling and Employment of Youth
   6. Telangana Launches Rajiv Gandhi Civils Abhayahastam Program
   7. Cote d’Ivoire Joins UN Water Convention
   8. China Unveils World’s First Dual-Tower Solar Thermal Plant
   9. TechFini Secures NPCI Certification for UPI Payments
   10. Wholesale Inflation Reached 3.36% in June 2024
   11. CBDT Awards Taxnet 2.0 Project to Bharti-Airtel
   12. World Economic Forum’s “The Future of Financial Advice” Report
   13. India Aims to Increase E-commerce Exports: EY-Assocham Report Seeks Regulatory Reforms
   14. GRSE Bags Contract for New Ocean Research Vessel
   15. IISR Wins Best Technology Award for Turmeric Milk Powder
   16. RBI Approves K Paul Thomas’ Reappointment at ESAF SFB
   17. Vinay Kwatra Appointed as India’s Ambassador to the US
   18. Dr. MS Valiathan, Renowned Cardiac Surgeon, Passes Away

National News

1. ISRO Creates First Underwater Map of Ram Setu
   • What
     • ISRO, in collaboration with NASA’s ICESat-2 satellite, created the first-ever high-resolution underwater map of Ram Setu (Adam’s Bridge).
   • Why
     • This map will provide valuable insights into the structure and origin of this culturally significant bridge.
   • Tell me more
     • The bridge is submerged 99.8% under shallow water, with a length of 29 meters and a height of 8 meters above the seabed.
     • Traditional ship mapping was not feasible due to the shallow waters. ISRO used advanced laser technology from ICESat-2 to penetrate deeper.
     • The map reveals 11 narrow channels allowing water flow between the Gulf of Mannar and Palk Strait.
     • The underwater structure is a chain of limestone shoals.

2. India, Malaysia Boost Cooperation in Agriculture
   • What
     • India and Malaysia agreed to enhance cooperation in agriculture, particularly focusing on oil palm cultivation.
   • Tell me more
     • The discussions centered on India’s National Mission on Edible Oil-Oil Palm.
     • Market access issues for agricultural products and digitalization in plantation sectors were also addressed.
       Source: PIB
3. Centre of Excellence on 6G Technology Inaugurated at IIT Madras
   • What
     • Dr. Neeraj Mittal, Secretary (Telecom), inaugurated a centre of excellence on “Classical and Quantum Communications for 6G” at IITM Research Park, Chennai.
     • The centre is a sub-centre of Telecom Centres of Excellence (TCoE)-India and aims to advance 6G technology.
   • Tell me more
     • The centre will serve as a hub for innovation, bringing together academic and industry experts to collaborate on 6G projects.
     • It will facilitate interconnectivity with the existing 5G Test Bed at IIT Madras, which was inaugurated by Prime Minister Narendra Modi in May 2022.
     • The 5G Test Bed is used extensively by industry and academia for testing new 5G products and use-cases.

4. BIS Partners with IISc to Establish Standardization Chair Professor
   • What
     • The Bureau of Indian Standards (BIS) signed an MoU with the Indian Institute of Science (IISc), Bengaluru, to establish the ‘BIS Standardization Chair Professor’.
   • Why
     • To institutionalize BIS’s collaboration with leading academic and research establishments across India.
     • To integrate teaching Indian standards as an integral part of academic curricula.
   • Tell me more
     • The BIS Standardization Chair Professor will foster a robust partnership between BIS and IISc.
     • It aims to integrate standardization topics into academic programs, educate future professionals, and involve academia in national and international standardization efforts.
     • The collaboration will provide infrastructure support for R&D projects, co-host events, share research findings, and explore the establishment of Centres of Excellence.
     • State-of-the-art laboratory facilities will be shared to support research and testing initiatives.
     • Similar MoUs have been signed with IIT Bombay, IIT Kharagpur, IIT Kanpur, IIT Madras, NIT Rourkela, and NIT Trichy.
       Source: PIB

State News

1. Maharashtra Announces Ladka Bhau Yojana for Skilling and Employment of Youth
   • What
     • Maharashtra Chief Minister Eknath Shinde announced a new scheme named “Ladka Bhau Yojana” targeting unemployed men who have completed Class 12 or higher education.
   • Why
     • The scheme aims to:
       • Enhance employability of youth through skill training.
       • Provide financial assistance during job training.
       • Bridge the gap between industry needs and skilled workforce.
   • Tell me more
     • Eligibility: Open to men who have passed Class 12, diploma or hold a bachelor’s degree.
     • Stipend: Trainees will receive a monthly stipend based on their qualification:
       • Class 12: ₹6,000
       • Diploma holders: ₹8,000
       • Graduates: ₹10,000
     • Training: The government will fund apprenticeship programs in both industrial and non-industrial sectors.
     • Target: The scheme aims to train and place 10 lakh (one million) youths.

2. Telangana Launches Rajiv Gandhi Civils Abhayahastam Program
   • What:
     • Telangana Chief Minister A. Revanth Reddy has launched the “Rajiv Gandhi Civils Abhayahastam” program to provide financial assistance to Civil Services aspirants from Telangana.
     • The program will offer ₹1 lakh to candidates who qualify for the Mains exams.
   • Why:
     • The purpose is to support Civil Services aspirants from economically weaker sections and ensure they have the necessary resources for preparation.
     • It aims to address issues of unemployment and support the aspirations of youth in Telangana.
   • Tell me more:
     • Singareni Collieries Company Ltd (SCCL) will provide the financial assistance as part of its ‘Nirmaan’ program.
     • Eligibility criteria include candidates from SC, ST, OBC, Women, and EWS categories with a family annual income below ₹8 lakhs, and applicants must be permanent residents of Telangana.
       Source: TH

International News

1. Cote d’Ivoire Joins UN Water Convention
   • What
     • Cote d’Ivoire has become the 10th African nation to join the United Nations Water Convention, a treaty promoting cooperation in managing shared water resources.
   • Why
     • To address water stress and climate change impacts on shared water resources.
     • To foster cooperation with neighboring countries for sustainable water management.
   • Tell me more
     • Cote d’Ivoire shares eight transboundary rivers with neighboring countries.
     • The country faces water scarcity challenges due to population growth, urbanization, and pollution.
     • Joining the convention strengthens regional water cooperation in Africa.

2. China Unveils World’s First Dual-Tower Solar Thermal Plant
   • What
     • China inaugurated the world’s first dual-tower solar thermal power plant, boasting a novel design for enhanced efficiency.
     • Location: Gansu Province, China
   • Tell me more
     • The plant features two 200-meter towers surrounded by mirrored circles focusing sunlight.
     • This dual-tower design allows for shared mirror usage, potentially increasing efficiency by 24%.
     • The plant integrates with solar, thermal, and wind power for a comprehensive clean energy complex.
       Source: IE

Banking and Economy

1. TechFini Secures NPCI Certification for UPI Payments
   • What:
     • TechFini, an affiliate of Chennai-based fintech IppoPay, has received certification from the National Payments Corporation of India (NPCI) to operate as a Unified Payments Interface (UPI) payment infrastructure provider.
   • Why:
     • The certification allows TechFini to offer various UPI services, including UPI issuer 2.0, UPI acquirer 2.0, issuer and acquirer of credit lines on UPI, and enablement of RuPay credit cards and recurring mandates on UPI.
   • Tell me more:
     • TechFini is also certified for UPI Unified Dispute and Issue Resolution (UDIR), making it one of the few platforms to offer this feature.
     • The platform can handle up to 10,000 transactions per second.
     • TechFini is in discussions with three to four banks to utilize its platform.
     • The company aims to expand UPI adoption in tier-3 and tier-4 cities and smaller towns, addressing a gap in the market.
       Source: TOI
2. Wholesale Inflation Reached 3.36% in June 2024
   • What
     • India’s wholesale inflation, measured by the Wholesale Price Index (WPI), rose to a 16-month high of 3.36% in June 2024, compared to 2.61% in May 2024.
   • Why
     • The rise in inflation is primarily due to an increase in prices of essential commodities, particularly food items.
   • Tell me more
     • The Reserve Bank of India (RBI) is closely monitoring the situation as rising food prices could derail efforts to bring down inflation.

2. CBDT Awards Taxnet 2.0 Project to Bharti-Airtel
   • What
     • The Central Board of Direct Taxes (CBDT) has awarded the Taxnet 2.0 project to Bharti-Airtel Ltd.
   • Why
     • The project aims to revamp the Income Tax Department’s (ITD) network system.
   • Tell me more
     • The project will enhance the digital infrastructure of the ITD.
     • Taxnet 2.0 will provide enhanced security to protect sensitive data.
     • The project will ensure higher reliability by delivering consistent and dependable service.
     • Seamless connectivity will be ensured, enhancing tax services for citizens and businesses.
     • Bharti-Airtel Ltd was selected through an open tender selection process.

Source: TOI

Report and Indices

1. World Economic Forum’s “The Future of Financial Advice” Report
   • What
     • The financial advice landscape is undergoing a significant transformation driven by technological advancements and changing consumer demands.
   • Why
     • This shift aims to:
       • Increase access to affordable and personalized financial advice.
       • Empower individuals to make informed financial decisions.
       • Enhance financial literacy and well-being.
   • Tell me more
     • Key trends:
       • Growing demand for holistic financial planning across all age groups.
       • Rise of digital tools and platforms for financial advice delivery.
       • Importance of financial literacy to navigate information overload.
       • Need for fair and transparent pricing models to build trust.
     • Technological advancements:
       • Artificial intelligence and machine learning for personalized advice.
       • Blockchain technology for secure data management.

Source: WEF

2. India Aims to Increase E-commerce Exports: EY-Assocham Report Seeks Regulatory Reforms
   • What
     • A report by EY and Assocham suggests policy changes to boost India’s e-commerce exports.
   • Why
     • To increase India’s share in the global e-commerce market and improve ease of doing business for MSMEs.
   • Tell me more
     • The report recommends raising the consignment limit for courier exports via e-commerce channels from $12,000 to $50,000.
     • It suggests extending export promotion benefits currently available for cargo exports to e-commerce exports.
     • The report advocates for state-level e-commerce export policies including:
       • Identifying districts for E-commerce Export Hubs (ECEHs).
       • Creating product-specific manufacturing clusters.
       • Integrating training centers within ECEHs.
       • Developing ECEHs near air cargo terminals with customs officials for faster clearances.

Source: BS

Defence News

1. GRSE Bags Contract for New Ocean Research Vessel
   • What
     • Garden Reach Shipbuilders and Engineers (GRSE) signed a deal worth ₹840 crore with the National Centre for Polar and Ocean Research (NCPOR) to construct and deliver an ocean research vessel (ORV).
   • Why
     • This project will bolster India’s marine research capabilities and support the Aatmanirbhar Bharat initiative by promoting self-reliance in maritime technology.
   • Tell me more
     • GRSE is expanding its portfolio beyond defense vessels and has recently secured contracts for a tugboat and dredger for Bangladesh and multipurpose cargo vessels for a German company.
     • GRSE delivered INS Sandhayak, the largest survey vessel built in India, to the Indian Navy in December 2023.
       Source: TH

Awards

1. IISR Wins Best Technology Award for Turmeric Milk Powder
   • What
     • The Indian Institute of Spices Research (IISR) received the best technology award for its work in horticultural sciences.
   • Tell me more
     • The award was presented by Union Agriculture and Farmers’ Welfare Minister Shivraj Singh Chouhan during the 96th Foundation Day celebrations of the Indian Council of Agricultural Research (ICAR) in New Delhi.
     • The technology was one of the top five under the Horticulture Sciences Division of the ICAR.
     • The technology has been commercialized with Malabar Regional Co-operative Milk Producers’ Union Limited, resulting in the production and marketing of two products: Golden Milk and Golden Milk Mix.
       Source: TH

Appointments

1. RBI Approves K Paul Thomas’ Reappointment at ESAF SFB
   • What
     • The Reserve Bank of India (RBI) has approved the re-appointment of K Paul Thomas as the Managing Director & CEO of ESAF Small Finance Bank for another three years.
   • Tell me more
     • The RBI’s approval was granted under the Banking Regulation Act, 1949.
     • ESAF SFB will now seek shareholder approval for the re-appointment within the prescribed timeframe.
     • K Paul Thomas also holds the position of Chairman of the Board of Sa-Dhan, a microfinance and impact finance industry association.
       Source: ET
2. Vinay Kwatra Appointed as India’s Ambassador to the US
   • Former Foreign Secretary Vinay Kwatra has been appointed as India’s ambassador to the United States.
     Source: BS

Miscellaneous

1. Dr. MS Valiathan, Renowned Cardiac Surgeon, Passes Away
   • What
     • Dr. MS Valiathan, a pioneering cardiac surgeon and the founder of Sree Chitra Tirunal Institute for Medical Sciences and Technology (SCTIMST), passed away at the age of 90.
   • Tell me more
     • Dr. Valiathan was the first Vice-Chancellor of Manipal Academy of Higher Education.
     • He received the Padma Shri in 2002 and Padma Vibhushan in 2005 for his contributions to healthcare.
       Source: HT

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