01st-02nd September, 2024

1. Four Central Public Sector Enterprises—NHPC, SECI, Railtel, and SJVN—Granted ‘Navratna’ Status by Government
2. World Coconut Day 2024 Celebrated on September 2
3. Air Marshal Tejinder Singh Assumes Role as Deputy Chief of the Air Staff
4. UN Allocates $100 Million for Humanitarian Aid Across 10 Countries
5. Prime Minister Modi to Flag Off Three Vande Bharat Trains Today
6. RBI Levies Penalties on UCO Bank and Cent Bank Home Finance Ltd
7. INS Tabar Engages in Maritime Partnership Exercise with Spanish Navy’s Atalaya
8. Dhulikhel Recognized as Nepal’s First ‘Healthy City’ and Second Healthiest in Asia by WHO
9. Indian Air Force Introduces Its First Comic Book Series Honoring Its Heroes
10. Kerala Tourism Wins PATA Gold Award 2024 for ‘Holiday Heist’ Campaign
11. Bihar CM Nitish Kumar Inaugurates Sports University in Rajgir on National Sports Day
12. FICCI Names Ayushmann Khurrana and Neeraj Chopra as Youth Icons of India
13. 2024 International Day for People of African Descent Marked Globally
14. LIC Disburses ₹3,662 Crore Dividend to the Indian Government
15. Moody’s Increases Growth Forecast for India in 2024 and 2025
16. India and Peru Deepen Cooperation on Critical Minerals
17. Preethi Pal Wins Medal in Women’s T35 100m at Paris Paralympics
18. Mona Singh Shines at Paralympics
19. Manish Narwal Earns Silver in Men’s 10m Air Pistol SH1 Event at Paris Paralympics 2024
20. Avani Lekhara Sets New Paralympic Record

National News

1. PM Modi Launches Three New Vande Bharat Trains
   • What
     • Prime Minister Narendra Modi flagged off three new Vande Bharat Express trains connecting Meerut-Lucknow, Madurai-Bengaluru, and Chennai-Nagercoil.
     • The launch took place via video conferencing on August 31, 2024.
   • Why
     • The introduction of these trains aims to enhance connectivity and reduce travel time between important cities in Uttar Pradesh, Tamil Nadu, and Karnataka.
   • Tell me more
     • The Vande Bharat Express trains are semi-high-speed trains that aim to connect over 280 districts across India.
     • More than 100 Vande Bharat trains are currently operational, with a significant increase in demand.
       Source: TOI

State News

1. Kerala Tourism Wins PATA Gold Award 2024
   • What
     • Kerala Tourism has won the prestigious Pacific Asia Travel Association (PATA) Gold Award 2024 for its online contest ‘Holiday Heist’ in the Digital Marketing Campaign category.
     • The award was presented at a function in Bangkok during the PATA Travel Mart 2024.
   • Why
     • The ‘Holiday Heist’ campaign aimed to attract tourists to Kerala through an engaging and thrilling bidding game.
     • It showcases Kerala Tourism’s innovative approach to destination marketing.
   • Tell me more
     • Kerala Tourism Director Sikha Surendran received the award at the Queen Sirikit National Convention Centre (QSNCC) in Bangkok.
     • The month-long ‘Holiday Heist’ campaign was launched in July 2023 on Kerala Tourism’s WhatsApp chatbot Maya.
     • Kerala Tourism was the only destination from India to win the PATA Gold Award this year.

2. Bihar Inaugurates Sports Academy and University in Rajgir
   • What
     • Bihar Chief Minister Nitish Kumar inaugurated a state-of-the-art sports academy, complex, and university in Rajgir on National Sports Day (August 29).
     • The complex is equipped with facilities for 24 indoor and outdoor sports disciplines.
   • Why
     • The sports complex and university aim to promote sports talent and provide world-class training facilities in Bihar.
     • It is the first such integrated sports destination in the country with a complex and university in one place.
       Source: HT NOA

International News

1. UN Allocates $100 Million for Humanitarian Crises
   • What
     • The United Nations has released $100 million from the Central Emergency Response Fund (CERF) to address critical humanitarian emergencies in 10 countries.
     • This funding aims to support underfunded humanitarian operations across Africa, the Americas, Asia, and the Middle East.
   • Tell me more
     • More than one-third of the new funding will support operations in Yemen ($20 million) and Ethiopia ($15 million), where people face hunger, displacement, and diseases.
     • Other countries receiving funding include Myanmar ($12 million), Mali ($11 million), Burkina Faso ($10 million), Haiti ($9 million), Cameroon ($7 million), Mozambique ($7 million), Burundi ($5 million), and Malawi ($4 million).
     • This is CERF’s second allocation for underfunded emergencies this year, following a similar $100 million release in February.

2. Dhulikhel Declared Nepal’s First Healthy City by WHO
   • What
     • The World Health Organization (WHO) has declared Dhulikhel Municipality in Kavrepalanchok district as Nepal’s first “Healthy City” and the second healthiest city in Asia.
   • Tell me more
     • As a reward for achieving this status, Dhulikhel Municipality will receive USD 5,000 to support its health initiatives.
     • The WHO has been monitoring Dhulikhel since 2021 to evaluate its progress towards becoming a healthy city.
     • The recognition comes at a time when Nepal is facing significant pollution challenges, being reported as the third most polluted country in the world based on particulate matter data.
       Source: NOA

3. U.S. and Peru Sign MOU on Critical Minerals Cooperation
   • What
     • The United States and Peru have signed a Memorandum of Understanding (MOU) to strengthen cooperation on critical minerals.
   • Why
     • The MOU aims to enhance collaboration on critical mineral supply chains between the two countries.
       Source: US

Banking and Economy

1. NHPC, SJVN and SECI Granted Navratna Status
   • What
     • The Government of India has granted ‘Navratna’ status to public sector undertakings NHPC, SJVN, Railtel, and SECI.
     • This recognition provides these entities with greater operational and financial autonomy.
   • Why
     • The Navratna status aims to enable faster decision-making, increase efficiency and empower employees of these companies.
     • It will support major capital expenditure and investment plans, drive growth, expand market reach and achieve long-term gains.
   • Tell me more
     • NHPC, previously operating as a Mini Ratna Category-I entity under the Ministry of Power, has been declared a ‘Navratna Company’.
     • SJVN, a joint venture of the Government of India and the Government of Himachal Pradesh, has also been granted Navratna status.
     • SECI, a nodal agency under the Ministry of New and Renewable Energy for auctioning renewable energy projects, has been awarded the Navratna status.
     • RailTel, a nodal agency under the Ministry of Railways. was Mini Ratna (Category-I) PSU and now, it has been declared as ‘Navratna Company’.
       Source: ET MoC
2. RBI Imposes Penalties on UCO Bank and Cent Bank Home Finance Ltd
   • Reserve Bank of India has imposed a penalty of Rs 2.68 crore on UCO Bank for contravention of certain provisions, including on opening of current accounts, interest rate on deposits and frauds classification.
   • The RBI has also imposed a penalty of Rs 2.1 lakh on Cent Bank Home Finance Ltd for non-compliance with certain provisions of Know Your Customer (KYC) directions.
     Source: BS
3. LIC Pays ₹3,662 Crore Dividend to Government
   • What
     • Life Insurance Corporation of India (LIC) has paid a dividend of ₹3,662.17 crore to the Government of India.
     • The dividend cheque was handed over by LIC CEO & MD Siddhartha Mohanty to Union Finance Minister Nirmala Sitharaman.
   • Why
     • The Government of India is the largest shareholder in LIC, holding a 96.50% stake in the company.
   • Tell me more
     • LIC had earlier paid an interim dividend of ₹2,441.45 crore on March 1, 2024, taking the total dividend for the year 2023-24 to ₹6,103.62 crore.
     • LIC is completing 68 years since its incorporation and continues to be the market leader in the Indian life insurance sector with an overall market share of 64.02% in terms of First Year Premium Income (FYPI).
       Source: ET

GDP Forecasts

1. Moody’s Raises India’s GDP Growth Forecast to 7.2%
   • What
     • Moody’s Ratings has increased India’s GDP growth forecast for 2024 to 7.2%, up from the previous estimate of 6.8%.
     • The forecast for 2025 has also been raised to 6.6% from 6.4%.
   • Why
     • The upward revision is based on signs of strong economic recovery, particularly in rural demand and agricultural output due to above-normal rainfall.
     • It reflects the potential for higher growth if private consumption gains momentum.
   • Tell me more
     • The services sector has shown strong performance, with the Purchasing Managers’ Index (PMI) remaining above 60.
     • Household consumption is expected to rise as inflation eases towards the Reserve Bank of India’s target.
     • The report highlights improvements in corporate and bank balance sheets, with companies increasingly raising capital through equity and bond markets.
       Source: ET

Defence News

1. Indian Navy Conducts Maritime Exercise with Spanish Navy
   • What
     • INS Tabar, an Indian Navy frigate, conducted a Maritime Partnership Exercise (MPX) with Spanish Navy Ship Atalaya in the Mediterranean Sea.
     • The exercise took place after INS Tabar’s two-day visit to Malaga, Spain from August 25-27, 2024.
   • Tell me more
     • The exercise involved advanced maneuvers such as Station Keeping, Replenishment at Sea Approaches (RASAPs), Flying Exercise (FYEX), Steam Past, and PHOTOEX serials.
     • INS Tabar is an early stealth frigate of the Indian Navy, equipped with a versatile range of weapons and sensors.
     • The ship is part of the Indian Navy’s Sword Arm Fleet based in Mumbai under the Western Naval Command.
       Source: ANI

Awards

1. FICCI Young Leaders Awards 2024
   • What
     • The FICCI Young Leaders Awards 2024 ceremony was held in New Delhi.
   • Why
     • The awards aim to inspire the youth of India to dream bigger, strive harder, and lead with integrity and purpose.

Source: FICCI

Important Days

1. International Day for People of African Descent – August 31
   Source: UN
2. World Coconut Day – September 2
   • Theme: “Coconut for a Circular Economy: Building Partnership for Maximum Value”
     Source: HT

Sports

1. Indian Athletes Shine at Paralympics 2024 in Paris
   • Preethi Pal became the first Indian woman to win two Paralympic medals in track and field events, securing a bronze in the women’s 200m T35 class.
     • The T35 class is for athletes with coordination impairments such as hypertonia and ataxia.
   • Mona Agarwal won a bronze medal in the R2 Women 10m Air Rifle SH1 event, establishing herself in para shooting.
   • Manish Narwal secured a silver medal in the Men’s 10m Air Pistol SH1 Final, scoring 234.9 points.
   • Avani Lekhara made history by becoming the first Indian woman to win two gold medals at the Paralympics, setting a new record of 249.7 points in the women’s 10m air rifle standing SH1 event.
     • Avani Lekhara previously won a gold medal in the women’s 10m air rifle standing SH1 event at the Tokyo 2020 Paralympics.
       Source: OC PIB IT TH

Appointments

1. Air Marshal Tejinder Singh Appointed as Deputy Chief of Air Staff
   • Air Marshal Tejinder Singh will take over as the new Deputy Chief of Air Staff of the Indian Air Force on September 1, 2024.
   • He was previously the Senior Air Staff Officer of the Eastern Air Command.
     Source: ANI

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