Current Affairs One - Liner : 13th August 2024

Ageas Federal Life Insurance (AFLI) has partnered with PhonePe to enhance life insurance penetration in India. This collaboration aims to provide instant term insurance to PhonePe’s extensive user base, particularly in Tier 2, 3, and 4 cities. Users aged 18-45 can easily access the Ageas Federal Life Insurance Group Term Plan via the PhonePe app, with a seamless digital application process and no medical tests.

Mirae Asset Investment Managers (India) has launched India’s first Multicap ETF, the Mirae Asset Nifty500 Multicap 50:25:25 ETF. This ETF tracks the Nifty500 Multicap 50:25:25 Total Return Index, offering 50% exposure to large-cap stocks, and 25% each to mid-cap and small-cap stocks.

India’s Index of Industrial Production (IIP) recorded a growth of 4.2% in June 2024, slightly up from the 4.0% growth in June 2023. This growth was driven by significant increases in the Mining (10.3%), Manufacturing (2.6%), and Electricity (8.6%) sectors.
The retail inflation rate for July 2024 dropped to a 59-month low of 3.54% year-on-year, and this was reported on August 12, 2024. This significant decline is expected to positively impact consumer spending and economic stability. Lower inflation rates can lead to increased purchasing power for consumers and potentially boost economic growth.
The State Bank of India (SBI) has projected a 7% GDP growth for India in FY25, slightly lower than the RBI’s forecast of 7.2%. This adjustment is due to emerging global challenges. However, India is still expected to be one of the fastest-growing economies, driven by strong manufacturing activity and improved monsoon conditions.

The All India Institute of Ayurveda (AIIA) and Amity University signed an MoU on August 9, 2024, in New Delhi. This partnership aims to advance Ayurvedic education, research, and technology. It’s a significant step towards integrating traditional medicine with modern science.
The MoU between SCTIMST and WHO was signed on August 9, 2024, at the SCTIMST campus in Thiruvananthapuram, Kerala. This collaboration aims to enhance the production of medical devices, ensuring better accessibility and quality in healthcare. It marks a significant step towards strengthening global health infrastructure.
India and the Maldives renewed their Memorandum of Understanding (MoU) to enhance civil service training on August 9, 2024, in Malé. This agreement aims to train an additional 1,000 Maldivian civil service officers from 2024 to 2029. This initiative will further strengthen the cooperation between the two nations in the field of civil service development.
On August 13, 2024, the National Health Authority (NHA) and Maharashtra University of Health Sciences (MUHS) signed an MoU in Mumbai to promote Digital Health Education. This collaboration aims to integrate digital health technologies into medical education, enhancing the skills of healthcare professionals and improving healthcare delivery in India.

On August 8, 2024, Dhruva Space announced a collaboration with Singapore’s Zero-Error Systems (ZES). This partnership aims to enhance Dhruva Space’s On-Board Computer (OBC) subsystems for satellite missions. The collaboration is expected to improve the reliability and performance of their satellite technology.
Researchers discovered the anti-diabetic herb Gurmar (Gymnema sylvestre) on Brahmayoni Hill in Gaya, Bihar, on August 12, 2024. Gurmar is known for its potential to regulate blood sugar levels and has been used in traditional medicine for centuries. This discovery highlights the rich biodiversity of the region and its potential for contributing to modern medicine.

The NIRF Rankings 2024 were announced on August 12, 2024, by the Ministry of Education, Government of India. The top overall institute is IIT Madras, while IISc Bengaluru leads the university category. Miranda House, Delhi is the top college. The rankings evaluate institutions based on teaching, research, graduation outcomes, inclusivity, and perception.

Union Minority Affairs Minister, Shri Kiren Rijiju, launched the Jiyo Parsi scheme portal on August 13, 2024. The Jiyo Parsi scheme aims to address the declining population of the Parsi community in India by providing financial assistance and support for fertility treatments.

Haryana is set to host the inaugural Global Women’s Kabaddi League in September 2024. This pioneering event, known as the Global Pravasi Women’s Kabaddi League (GPKL), aims to promote and develop women’s Kabaddi on a global scale. Teams from over 15 countries, including England, Poland, Argentina, Canada, and Italy, will participate.

The DRDO successfully conducted the maiden flight test of the Long Range Glide Bomb (LRGB) named GAURAV on August 13, 2024. The test was carried out from a Su-30 MK-I fighter jet off the coast of Odisha. This achievement marks a significant milestone in enhancing India’s precision strike capabilities.

International Lefthanders Day is celebrated on August 13th to honor the uniqueness of left-handed individuals. The 2024 theme, “Embrace the Left-Handed World,” promotes inclusivity and awareness of the challenges left-handers face. This day highlights the contributions of left-handers in various fields and encourages support for their needs.
World Steelpan Day, celebrated on August 11th, honors the steelpan from Trinidad and Tobago. The 2024 theme, “Harmony Through Diversity,” highlights music’s unifying power. Celebrations include performances, workshops, and educational activities to promote the steelpan’s cultural significance and global influence.

Raj Kumar Chaudhary took over as Chairman and Managing Director of NHPC Limited on 7th August 2024. His appointment marks a significant leadership change for the company, which is a major player in India’s hydropower sector.
Rwandan President Paul Kagame was sworn in for his fourth term on August 11, 2024 after winning the election with 99% of the vote. This marks another significant milestone in his long tenure as the country’s leader.
Syed Refaat Ahmed took the oath of office as the new Chief Justice of Bangladesh on August 11, 2024. This event marks a significant milestone in the country’s judiciary. His appointment is expected to bring new perspectives and leadership to the judicial system.
Shri Sandeep Poundrik took charge as Secretary of the Ministry of Steel on August 13, 2024. His appointment is expected to bring new leadership and direction to the ministry, focusing on enhancing the steel sector’s growth and sustainability.

Issa Hayatou, the former President of the Confederation of African Football (CAF), passed away on August 8, 2024, at the age of 77. He was a significant figure in African football, serving as CAF president for 29 years and playing a crucial role in the development of the sport on the continent.

Questions:

1 What is SBI's projected GDP growth rate for India in FY25?

2 Who took charge as the Secretary of the Ministry of Steel on August 13, 2024?