Current Affairs One - Liner : 7th & 8th July 2024

• National:
• The ISI mark is compulsory for all steel and aluminium kitetchen utensils. To enhance kitchen safety, quality, and efficiency, the Government of India has mandated conformity to the Bureau of Indian Standards (BIS) for stainless steel and aluminium utensils.

• A commemorative coin of Rs 100 was released in memory of Lokmat founder Jawaharlal Darda. The coin's release took place on July 2, 2024, to mark the 101st birth anniversary of the late freedom fighter and media stalwart.
• The Indian Space Research Organisation (ISRO) is indeed hosting the Bharatiya Antariksh Hackathon as part of the first-ever National Space Day celebration in India.
• The National Commission for Protection of Child Rights (NCPCR) declared mica mines in Jharkhand to be "child labour free" on July 5, 2024. This marks the successful culmination of a 20-year-long initiative to eradicate child labor from the mica mining industry in the state.
• To empower consumers with better nutritional information, the Food Safety and Standards Authority of India (FSSAI) has approved a proposal. Now, packaged food labels must display key nutritional information—total sugar, salt, and saturated fat—in bold letters and with a relatively increased font size.
• Banking:
• On July 4, 2024, Life Insurance Corporation of India (LIC) increased its stake in IDFC First Bank to 2.68% by acquiring additional shares through a private placement offer. The acquisition price was ₹80.63 per share, which was lower than the closing price of the share on that day.
• The Reserve Bank of India (RBI) has revoked the registration certificates of two Non-Banking Financial Companies (NBFCs), Star Finserv India and Polytex India, due to irregular lending practices and non-compliance with guidelines on outsourcing financial services and customer data confidentiality.
• The Reserve Bank of India (RBI) has cancelled the license of Banaras Merchantile Co-operative Bank in Varanasi due to its worsening financial position. As a result, the bank ceases to carry on banking business, effective from the close of business on July 4, 2024
• In the first quarter of FY25, corporate investment announcements declined to a 20-year low level of ₹44,300 crore. This information comes from the Bank of Baroda’s economic research department (ERD). The sluggish intentions can be attributed to the Elections, according to the ERD report. Interestingly, the previous lowest level of corporate investment announcements was observed in June 2005.
• Bank of Maharashtra and UCO Bank both displayed robust credit growth in the first quarter of FY25. UCO Bank reported a strong increase in gross advances of around 18% year-on-year, with total advances reaching ₹1.94 lakh crore by June 30th, 2024. Bank of Maharashtra also saw a significant rise in credit, with gross advances growing by 17.78% year-on-year for Q1 FY25.
• The Reserve Bank of India (RBI) has cancelled the licence of Shimsha Sahakara Bank Niyamitha, located in Maddur, Karnataka. This decision was made due to the bank’s worsening financial health. As of July 5, 2024, the bank is no longer allowed to conduct banking operations.
• Economy:
• According to the Ministry of Agriculture & Farmers’ Welfare, kharif crop sowing in India has seen significant growth. As of July 8, 2024, the area under kharif crops has increased by 14.10% compared to the previous year, reaching 378.72 lakh hectares. Notably, pulses cultivation has expanded by over 50%, with crops like Arhar, Urdbean, and Moongbean showing positive trends.
• Forecasts from the Food and Agriculture Organization (FAO) of the United Nations predict that global cereal production in 2024 will reach an all-time high of 2,854 million tonnes. This is due to several factors, including better harvest outlooks for maize in key producing regions like Argentina, Brazil, Ukraine, and Turkey, which have offset lower productions in other areas.
• Sports:
• Lewis Hamilton secured victory in the 2024 British Grand Prix on July 7, 2024 at Silverstone. It was a remarkable win, marking his ninth British Grand Prix victory and ending a nearly three-year winless streak.
• The 2024 Asian Billiards Championship took place in Riyadh, Saudi Arabia, from June 27th to July 5th, 2024. In the final round, Dhruv Sitwala, the reigning Indian National billiards champion, secured victory by defeating his compatriot and celebrated cueist Pankaj Advani with a score of 5-2. This win marked Sitwala’s third Asian Billiards title.
• India’s triumph at the Asian Squash Doubles Championship in Johor, Malaysia on 7th July 2024:
• Mixed Doubles Title: Abhay Singh and Joshna Chinappa secured victory, defeating Hong Kong China’s Tong Tsz Wing and Ming Hong Tang 2-1 (11-8, 10-11, 11-5).
• Men’s Doubles Crown: Abhay Singh partnered with Velavan Senthilkumar to defeat Malaysian second seeds Ong Sai Hung and Syafiq Kamal with an impressive 11-4, 11-5 victory.
• Defence:
• The Zorawar is India’s indigenous light tank designed for high-altitude areas like Ladakh. It’s lightweight (25 tons), maneuverable, and integrates substantial firepower, protection, surveillance, and communication capabilities. The Indian Army has ordered 59 tanks, with plans for a total of 354. The Zorawar is expected to be inducted by 2027.
• Important Days:
• The International Day of Cooperatives is celebrated on the first Saturday of July each year. In 2024, it falls on July 6th. This annual event recognizes the contributions of cooperatives worldwide and highlights their impact on building a more sustainable and equitable future. The theme for this year’s celebration is “Cooperatives Building a Better Future for All”.
• World Chocolate Day, also known as Chocolate Day, is celebrated globally on July 7. It commemorates the introduction of chocolate to Europe in 1550.
• July 7th is Global Forgiveness Day. It is a day dedicated to reflecting on the power of forgiveness and its ability to heal wounds, both personal and communal. Forgiveness is a powerful tool that can help us let go of resentment, anger, and bitterness, and move on with our lives.
• Appointments:
• Bandhan Bank’s board of directors has approved the appointment of Mr. Ratan Kumar Kesh as the interim Managing Director and Chief Executive Officer (MD & CEO). He will assume office on July 10, 2024, and his tenure will last for three months or until the new MD & CEO takes charge, whichever is earlier.
• Elisa de Anda Madrazo assumed the presidency of the Financial Action Task Force (FATF) on July 1, 2024. She will serve in this role until June 30, 2026. Her leadership aims to strengthen global efforts in combating money laundering and terrorist financing.
• Awards & Honours:
• President Droupadi Murmu conferred 10 Kirti Chakras and 26 Shaurya Chakras at Rashtrapati Bhawan in New Delhi on July 05, 2024. The awards were conferred to the personnel of the Armed Forces, CAPF and State/UT Police for displaying conspicuous gallantry, indomitable courage and extreme devotion to duty.
• Obituaries:
• The Oscar-winning producer Jon Landau behind iconic films such as “Titanic” and both “Avatar” movies, has sadly passed away at the age of 63. His long-time partnership with filmmaker James Cameron resulted in some of the highest-grossing films of all time.

Questions:

1 Who secured the Mixed Doubles title at the Asian Squash Doubles Championship 2024?

• A) Abhay Singh and Joshna Chinappa
• B) Saurav Ghosal and Dipika Pallikal
• C) Ramit Tandon and Sunayna Kuruvilla
• D) Harinder Pal Sandhu and Tanvi Khanna

Answer: A) Abhay Singh and Joshna Chinappa secured victory, defeating Hong Kong China’s Tong Tsz Wing and Ming Hong Tang 2-1 (11-8, 10-11, 11-5).

2 Who has been appointed as the interim Managing Director and Chief Executive Officer (MD & CEO) of Bandhan Bank?

• A) Mr. Chandra Shekhar Ghosh
• B) Mr. Indranil Banerjee
• C) Mr. Ratan Kumar Kesh
• D) None of the above

Answer: C) Bandhan Bank’s board of directors has approved the appointment of Mr. Ratan Kumar Kesh as the interim Managing Director and Chief Executive Officer (MD & CEO).