25th July, 2024

1. Mumbai’s first underground metro, the Aqua Line, is set to start operations soon, aiming to transform urban transit in the city.
2. NTPC Vidyut Vyapar Nigam Limited has signed an MoU with the Municipal Corporations of Gurugram and Faridabad to set up plants that will produce green charcoal from waste.
3. China has developed the world’s first passenger train made entirely of carbon fiber.
4. TerraPay, a global money movement company, announces that financial institutions can send money directly to more than 2.1 billion mobile wallets around the world using their existing Swift connectivity.
5. The ‘greenium’ (green + premium) refers to pricing benefits based on the logic that investors are willing to pay extra or accept lower yields in exchange for sustainable impact.
6. Cashfree Payments, a Bengaluru-based company specializing in banking solutions and payments, has received the Reserve Bank of India’s (RBI) approval to operate as a payment aggregator-cross border (PA-CB).
7. The top 10 brands in Kantar’s global Brand Inclusion Index 2024 are as follows: Google, Tata Motors, Amazon, Jio, Apple, Netflix, Coca-Cola, Adidas, Disney, Apple.
8. The United Nations Development Program (UNDP) has released its Signals Spotlight, focusing on intergenerational equity and its significance for development over the next 3 to 10 years.
9. The Henley Passport Index is the original ranking of all the world’s passports based on data from the International Air Transport Association (IATA) and additional research from the Henley & Partners’ research team, a London-based immigration consultancy.
10. India has successfully flight-tested the second phase of its ballistic missile defence system, demonstrating the ability to defend against hostile missiles with a range of 5,000 km.
11. Abhinav Bindra, India’s first individual Olympic gold medalist, will be awarded the Olympic Order by the International Olympic Committee (IOC).
12. World Drowning Prevention Day – July 25
13. PR Sreejesh (hockey player) has announced his retirement.
14. Harmanpreet Kaur, captain of the Indian women’s cricket team, has broken the record for most runs scored by an Indian in Twenty20 Internationals (T20Is).
15. Six-time Grand Slam winner Sania Mirza, six-time World Champion Mary Kom, and TV host Rannvijay Singha have been appointed as brand ambassadors for Play Sports.
16. Cmde D.K. Murali, IN (Retd.), has assumed the role of Chairman and Managing Director (CMD) of Broadcast Engineering Consultants India Limited (BECIL).
17. Bibhuti Bhusan Nayak has been elected as President of the Institute of Cost Accountants of India for the period 2024-2025.
18. The Indian government has issued a commemorative stamp in honor of legendary singer Mukesh, marking his 100th birth anniversary

State News

1. Mumbai’s Aqua Line Underground Metro Set to Launch
   • What
     • Mumbai’s first underground metro, the Aqua Line, is set to start operations soon, aiming to transform urban transit in the city.
   • Why
     • The new underground metro is expected to ease travel across Mumbai’s streets and significantly reduce traffic congestion.
   • Tell me more
     • The Aqua Line will cover a distance of 33.5 km, running from Aarey Colony to Cuffe Parade, with a total of 27 stops along the route.
     • The completion of the entire project is now scheduled for the end of December 2024, which is a delay from the initial completion date of September 2024.
       Source: LM
2. Haryana to Set Up Green Charcoal Plants from Waste
   • What
     • NTPC Vidyut Vyapar Nigam Limited has signed an MoU with the Municipal Corporations of Gurugram and Faridabad to set up plants that will produce green charcoal from waste.
   • Why
     • The plants aim to provide a permanent solution to the problem of garbage disposal in Gurugram and Faridabad while also increasing energy production.
   • Tell me more
     • The plants will be set up in Bandhwari, Gurugram, and Mothuka, Faridabad, at a cost of around Rs 500 crore each.
     • The plants will convert 1,500 tonnes of daily waste collected from Gurugram and Faridabad into charcoal, under the Atmanirbhar Bharat Abhiyan.

Source: NOA

International News

1. China Unveils First Carbon Fiber High-Speed Train
   • What
     • China has developed the world’s first passenger train made entirely of carbon fiber.
   • Why
     • This is a significant advancement in high-speed rail technology.
     • Carbon fiber is lighter than steel, allowing the train to be more energy-efficient.
   • Tell me more
     • The train is expected to use 7% less energy than a traditional steel train.
     • It will be operational later this year after completing factory testing.
     • This innovation aligns with China’s goal of achieving a cleaner and low-carbon future.
       Source: ET

Banking and Economy

1. TerraPay Enables Direct Payments to 2.1 Billion Mobile Wallets via Swift
   • What
     • TerraPay, a global money movement company, announces that financial institutions can send money directly to more than 2.1 billion mobile wallets around the world using their existing Swift connectivity.
   • Why
     • This service aims to improve the efficiency and transparency of cross-border transactions for businesses and consumers.

   • Tell me more
     • Payments initiated by financial institutions over Swift will reach TerraPay’s system with speed and efficiency, and with end-to-end transparency from account to wallet, powered by Swift’s transaction tracking capabilities.
     • Swift is a messaging network connecting over 11,500 financial institutions in more than 200 countries.
       Source: TerraPay
2. “Greenium” Term
   • What
     • The ‘greenium’ (green + premium) refers to pricing benefits based on the logic that investors are willing to pay extra or accept lower yields in exchange for sustainable impact.
     • India’s sovereign green bonds have hardly received any good premiums from private investors, severely impacting the ability to raise finances for funding the green transition.
   • Why
     • This concern of low greenium receipt in India was raised in the Economic Survey of 2023-24.
   • Tell me more
     • India released the Framework for Sovereign Green Bonds in 2022 to enable the mobilization of funds from diversified investors for green projects, deepening the bond market.
     • Two issues of sovereign green bonds amounting to ₹16,000 crore and ₹20,000 crore were undertaken in January-February 2023 and October-December 2023, respectively.

3. Cashfree Payments Receives RBI Nod for Cross-Border Payment Aggregator License
   • What
     • Cashfree Payments, a Bengaluru-based company specializing in banking solutions and payments, has received the Reserve Bank of India’s (RBI) approval to operate as a payment aggregator-cross border (PA-CB).
   • Why
     • The PA-CB license enables Cashfree Payments to support global businesses and regulated entities collecting payments in India, as well as offer cross-border payment solutions to Indian exporters and freelancers.
   • Tell me more
     • Cashfree Payments is one of the first non-banks to receive the PA-CB license, according to the RBI’s website.
     • The company has been approved to operate as a PA-CB-E&I (Export and Import PA-CB).
     • The RBI had issued a circular in October 2023 mandating minimum net worth requirements for non-banks to operate as PA-CBs, including a minimum net worth of Rs 15 crore at the time of application and Rs 25 crore by March 31, 2026.

   
   

Source: BS

Report and Indices

1. Kantar’s Brand Inclusion Index 2024
   • What
     • The top 10 brands in Kantar’s global Brand Inclusion Index 2024 are as follows:
     1. Google
     2. Tata Motors
     3. Amazon
     4. Jio
     5. Apple
     6. Netflix
     7. Coca-Cola
     8. Adidas
     9. Disney
     10. Apple

• Why
  • The index aims to showcase the importance of diversity, equity, and inclusion (DEI) in influencing consumer choices and driving brand growth.
• Tell me more
  • The study reveals that 75% of consumers globally say that a brand’s DEI reputation influences their purchase decisions, with 86% of Indian respondents considering DEI important in their life and brand choices.
  • A staggering 68% of Indians report experiencing discrimination, significantly higher than the global average of 46%.
  • The index surveyed over 23,000 people across 18 countries, with more than 1,000 respondents from India, focusing on an inclusive demographic.
  • Kantar’s findings indicate that brands failing to address discrimination risk alienating a significant portion of their customer base.
    Source: ET

2. UNDP’s “Signals Spotlight 2024” Report
   • What
     • The United Nations Development Program (UNDP) has released its Signals Spotlight, focusing on intergenerational equity and its significance for development over the next 3 to 10 years.
   • Why
     • The Spotlight aims to encourage discussions about emerging trends and signals that may impact future generations, especially in light of the upcoming Summit of the Future in September 2024.
   • Tell me more
     • The Signals Spotlight identifies areas where the legacy to future generations is uncertain and explores what this means for development.
     • It includes insights from UNDP’s Future Trends and Signals System.
     • The Spotlight is divided into three chapters:
       • Hope for an equitable future, focusing on justice between species and future generations.
       • Hope for responsible technological progress, emphasizing the need for fair sharing of technological benefits.
       • Hope for resilient and connected communities, addressing threats to strong communities and highlighting social connections.
         Source: UN

3. Henley Passport Index 2024
   • The Henley Passport Index is the original ranking of all the world’s passports based on data from the International Air Transport Association (IATA) and additional research from the Henley & Partners’ research team, a London-based immigration consultancy.

Source: HT

Science and Technology

1. India Successfully Tests Phase-II Ballistic Missile Defence System
   • What
     • India has successfully flight-tested the second phase of its ballistic missile defence system, demonstrating the ability to defend against hostile missiles with a range of 5,000 km.
   • Why
     • The flight test aims to validate India’s indigenous capabilities in ballistic missile defence and enhance national security against potential missile threats.
   • Tell me more
     • The test was conducted at the integrated test range (ITR) in Chandipur, Odisha, and fully met all trial objectives.
     • It is an endo-atmospheric missile is a two-stage solid-propelled ground-launched missile.
       • The endo-atmospheric missiles operate within the Earth’s atmosphere, below an altitude of 100 km, while exo-atmospheric missiles operate in the uppermost region of the atmosphere.
         Source: ET

Awards

1. Abhinav Bindra to Receive IOC’s Highest Order
   • What
     • Abhinav Bindra, India’s first individual Olympic gold medalist, will be awarded the Olympic Order by the International Olympic Committee (IOC).
   • Tell me more
     • The Olympic Order is the highest honor bestowed by the IOC for exceptional service to the Olympics.
     • Bindra won the men’s 10 meter air rifle event at the 2008 Beijing Games, becoming India’s first individual Olympic gold medalist.
     • He has been a member of the IOC Athlete Commission since 2018.
     • The award ceremony will be held during the 142nd IOC Session in Paris on August 10, 2024.

Source: NOA

Important Days

1. World Drowning Prevention Day – July 25
   • Theme: Anyone can drown, no one should
     Source: WHO

Sports

1. PR Sreejesh Announces Retirement After Paris Olympics 2024
   • PR Sreejesh (hockey player) has announced his retirement.
   • Hockey India (HI) expressed their support and said “Win it for Sreejesh” will be their tagline for the Olympics.
   • He is highest-capped current goalkeeper in the world.
     Source: TH
2. Harmanpreet Kaur Now India’s Top T20 Run Scorer
   • What
     • Harmanpreet Kaur, captain of the Indian women’s cricket team, has broken the record for most runs scored by an Indian in Twenty20 Internationals (T20Is).
   • Tell me more
     • Harmanpreet Kaur surpassed the previous record held by Mithali Raj.
     • She achieved this feat during the ongoing tour of Sri Lanka.
     • Kaur has scored a total of 2,372 runs in 123 T20I matches.

Source: Olympics.com

Appointments

1. Play Sports Appoints Sania Mirza, Mary Kom, and Rannvijay Singha as Ambassadors
   • What
     • Six-time Grand Slam winner Sania Mirza, six-time World Champion Mary Kom, and TV host Rannvijay Singha have been appointed as brand ambassadors for Play Sports.
   • Tell me more
     • Play Sports aims to upgrade existing sports infrastructure and develop new playgrounds for various sports.
     • The initiative also provides equipment support and training to young athletes.
     • The 2036 Olympics are a significant goal for India, with aspirations to become a top-10 sporting nation by that year.
       Source: KN

2. New CMD Appointed for BECIL
   • Cmde D.K. Murali, IN (Retd.), has assumed the role of Chairman and Managing Director (CMD) of Broadcast Engineering Consultants India Limited (BECIL), a Mini Ratna Central Public Sector Enterprise (CPSE) under the Ministry of Information & Broadcasting.
     Source: ET
3. Bibhuti Bhusan Nayak Elected New President of ICMAI
   • Bibhuti Bhusan Nayak has been elected as President of the Institute of Cost Accountants of India for the period 2024-2025.
   • Nayak is a Cost and Management Accountant (CMA) degree holder.
   • The Institute was established on 28th May 1959 by the Cost and Works Accountants Act, 1959 to regulate the profession of cost and management accountancy.
     Source: ICMAI

Miscellaneous

1. Commemorative Stamp Unveiled for Singer Mukesh’s Centenary
   • The Indian government has issued a commemorative stamp in honor of legendary singer Mukesh, marking his 100th birth anniversary.
   • The stamp was unveiled at a function organized by the Ministry of Culture at Akashwani Bhawan, with Union Minister of Culture and Tourism Gajendra Singh Shekhawat as the chief guest.
     Source: Print

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