- National:
- The Ministry of Statistics and Programme Implementation (MoSPI) has created two new divisions: the Household Survey Division and the Enterprise Survey Division. This restructuring aims to enhance survey frequency and reduce reporting delays. Additionally, separate state and international cooperation units have been established to ensure adherence to global standards.
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- Mynd IFSC launched the M1NXT platform in GIFT City on August 20, 2024. This platform aims to revolutionize global trade finance by providing a seamless, digital solution for cross-border transactions. It leverages advanced technologies to enhance efficiency, transparency, and security in trade finance operations.
- India has approved an additional 251 MW of power exports from Nepal, bringing the total to 941 MW. This includes 12 hydropower projects and marks the first time Nepal will export power to Bihar through a medium-term agreement. This move strengthens energy cooperation between the two countries.
- Sembcorp’s green ammonia plant in Thoothukudi, Tamil Nadu, had its foundation stone laid on August 21, 2024. This project, with an investment of Rs 36,238 Crore, aims to produce green ammonia, a sustainable energy source. It represents a significant step towards India’s renewable energy goals and is expected to boost local employment and economic growth.
- Union Minister Ashwini Vaishnaw launched the 25 challenges under the ‘Create in India Challenge-Season 1’ on August 22, 2024. This initiative aims to foster innovation and entrepreneurship by inviting participants to solve real-world problems across various sectors, including technology, healthcare, agriculture, and education.
- The National Conclave: Sangathan Swasthya Samriddhi was launched by Union Minister Shivraj Singh Chouhan in New Delhi. This initiative, part of the DAY-NRLM, focuses on enhancing women’s health, nutrition, and sanitation through Self-Help Groups (SHGs). The aim is to drive economic transformation and improve health outcomes in rural areas.
- On August 22, 2024, Union Minister Sarbananda Sonowal launched a skilling program at Jawaharlal Nehru Port. This initiative aims to enhance the skills of the port’s workforce, focusing on modern technologies and best practices in port operations.
- Karnataka leads India with the highest number of public electric vehicle charging stations (PEVCS), totaling 5,765 as of August 2024. Most of these stations are in Bengaluru Urban district, reflecting the state’s strong push towards sustainable transportation and electric vehicle adoption.
- Banking:
- On August 19, 2024, the Reserve Bank of India (RBI) granted approval to IndusInd Bank to establish a mutual fund asset management business. This move allows IndusInd Bank to diversify its financial services and enter the asset management sector.
- Aditya Birla Finance Limited (ABFL) and AU Small Finance Bank launched their co-branded credit card on August 21, 2024. This partnership aims to offer a range of benefits and rewards to customers, enhancing their financial experience. The card is designed to cater to various spending needs, providing attractive offers and seamless banking services.
- LIC Housing Finance launched the ‘Griha Rakshak’ home loan scheme for armed forces on August 20, 2024. This scheme is designed to provide affordable housing loans to members of the armed forces, offering competitive interest rates and flexible repayment options. It aims to support the housing needs of military personnel and their families, ensuring they have access to quality housing solutions.
- Ather Energy, the electric two-wheeler manufacturer, has achieved unicorn status after securing $71 million in funding from the National Investment and Infrastructure Fund (NIIF). This new investment has boosted Ather’s valuation to $1.3 billion.
- Paytm is selling its entertainment ticketing business to Zomato for ₹2,048 crore. This deal includes Paytm’s movie, sports, and events ticketing operations. Zomato will integrate these services into its subsidiaries, TicketNew and Insider. This move helps Zomato expand beyond food delivery into the entertainment sector.
- On August 20, 2024, Bank of Baroda (BoB) secured a ₹5,000 crore loan deal with Steel Authority of India Limited (SAIL). This significant financial agreement aims to support SAIL’s ongoing and future projects, enhancing their operational capabilities and growth prospects.
- Economy:
- In July 2024, India surpassed China to become the world’s largest importer of Russian oil, importing a record 2.07 million barrels per day. This accounted for 44% of India’s total oil imports, driven by discounted prices due to Western sanctions on Russia.
- Defence:
- The Security of Supply Arrangement (SOSA) between India and the United States, signed on August 22, 2024, aims to ensure a reliable defense supply chain. This agreement strengthens the strategic partnership by facilitating secure exchanges of critical defense materials and technology, enhancing mutual security and readiness in the face of global challenges.
- Important Days:
- The International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief is observed on August 22. The 2024 theme is “Promoting Tolerance and Inclusion”, emphasizing the need for understanding and acceptance to prevent violence and discrimination based on religion or belief. This day honors victims and promotes human rights and tolerance.
- The International Day for the Remembrance of the Slave Trade and its Abolition is observed on 23 August to commemorate the 1791 uprising in Haiti that led to the abolition of the transatlantic slave trade. The 2024 theme, “Decolonizing History: Memory, Heritage, and Education”, focuses on acknowledging historical injustices and promoting education to prevent future atrocities.
- August 23rd is observed as the European Day of Remembrance for Victims of Stalinism and Nazism, also known as Black Ribbon Day. This day commemorates the victims of totalitarian regimes, specifically those who suffered under Stalinist, communist, Nazi, and fascist regimes.
- Appointments:
- Actor Ram Charan was honored as the ‘Ambassador of Indian Arts and Culture’ at the Indian Film Festival of Melbourne on August 17, 2024. This award recognizes his significant contributions to Indian cinema and culture. Are you a fan of his work?
- Deepti Gaur Mukherjee took over as the Secretary of the Ministry of Corporate Affairs (MCA) on August 22, 2024. She brings extensive experience and expertise to the role, aiming to enhance corporate governance and regulatory frameworks in India.
Questions:
1 As of August 2024, which Indian state leads the country in the number of public electric vehicle charging stations (PEVCS)?
- A) Maharashtra
- B) Gujarat
- C) Tamil Nadu
- D) Karnataka
2 Who took over as the Secretary of the Ministry of Corporate Affairs (MCA) on August 22, 2024?
- A) Ram Mohan Naidu
- B) Deepti Gaur Mukherjee
- C) Nirmala Sitharaman
- D) Piyush Goyal
