Current Affairs One - Liner : 4th & 5th August 2024

• National:
• On August 2, 2024, Union Minister Jyotiraditya M Scindia, along with MoS Dr. Pemmasani Chandra Sekhar, inaugurated the Network Operations Centre (NOC) at the Centre for Development of Telematics (C-DOT) Delhi Campus.

• On August 2, 2024, the Telecom Regulatory Authority of India (TRAI) released revised Standards of Quality of Service for Access and Broadband Services. These new standards aim to enhance the quality and reliability of telecom and broadband services in India, ensuring better customer satisfaction and service delivery.
• On August 3rd, the Rajasthan Cabinet approved the formation of four joint venture companies in the energy sector. These ventures will focus on renewable and thermal power generation and transmission projects. The state government will hold a 26% share in these joint ventures, while central government undertakings will hold the remaining 74%.
• The Haryana government has announced that it will procure all crops in the state at the Minimum Support Price (MSP). This decision was made by Chief Minister Nayab Singh Saini as part of efforts to support farmers and stabilize market prices.
• Banking:
• Since 2014, the Reserve Bank of India (RBI) has cancelled the licenses of 78 Urban Cooperative Banks (UCBs). The primary reasons for these cancellations include inadequate capital, poor financial health, and operations that were not in the best interest of depositors and the public. Interestingly, nearly half of these cancellations (46%) occurred in Maharashtra. In 2024 alone, 10 UCBs had their licenses revoked, with two each in Maharashtra, Karnataka, and Uttar Pradesh.
• The Bharat Manufacturing Fund, launched by PNB MetLife India Insurance Company Ltd on August 1, 2024, aims to capitalize on India’s burgeoning manufacturing sector. This actively managed equity fund seeks long-term capital appreciation by investing in companies within the NIFTY India Manufacturing Index.
• The Reserve Bank of India (RBI) has issued ‘Fit & Proper’ certificates to three potential suitors to acquire IDBI Bank. The candidates include Fairfax Financial, Emirates NBD, and Kotak Mahindra Bank. The government and the Life Insurance Corporation of India (LIC) are planning to offload a combined 61% stake in IDBI Bank.
• HDFC Securities has partnered with Vested Finance to launch Global Investing 2.0, providing Indian and NRI investors with enhanced access to U.S. stock markets. This initiative offers simplified fund transfers, investment baskets, recurring investments, extended trading hours, and advanced analysis tools. The collaboration aims to democratize global investing, making it more accessible and secure for investors.
• The Reserve Bank of India (RBI) has granted the Payment Aggregator-Cross Border (PA-CB) license to Amazon Pay, Adyen, and BillDesk. This license allows these companies to offer payment services for international trade, in addition to their domestic merchant payment services.
• Economy:
• In 2023, the United States surpassed the UAE to become India’s second-largest supplier of liquefied natural gas (LNG), providing 3.09 million tonnes (MT) of LNG. This shift was driven by competitive pricing and the geographical advantage of shipping LNG from the US to India via the Cape of Good Hope.
• Science & Technology:
• China successfully launched its second high-orbit internet-services satellite, WHG-02, on August 1, 2024. The satellite was carried into space by a Long March 3B rocket from the Xichang Satellite Launch Center in Sichuan Province. This satellite aims to enhance internet services across China and key areas along the Belt and Road initiative.
• Apps & Portals:
• On August 5, 2024, Union Home Minister Amit Shah launched four apps in Chandigarh: e-Sakshya, Nyaya Setu, Nyaya Shruti, and e-Summon. These apps aim to modernize the criminal justice system by improving electronic evidence management, connectivity among stakeholders, understanding of legal processes, and the issuance of summons. This initiative is part of a broader effort to make the justice system more efficient and citizen-centric.
• Sports:
• The Asian Cricket Council (ACC) has announced that India will host the T20 Men’s Asia Cup in 2025, and Bangladesh will host the ODI Men’s Asia Cup in 2027. These tournaments will serve as important precursors to the respective format’s World Cups scheduled in those years.
• Defence:
• Germany has officially joined the United Nations Command (UNC) in South Korea as the 18th member state. The UNC was established in 1950, following the outbreak of the Korean War, to oversee the armistice agreement and to facilitate cooperation among the international forces that support South Korea's security.
• Important Days:
• U.S. Coast Guard Day is celebrated annually on August 4th to honor the founding of the United States Coast Guard. This day commemorates the establishment of the Coast Guard as the Revenue-Marine on August 4, 1790, by then-Secretary of the Treasury Alexander Hamilton.
• Appointments:
• Mohsin Naqvi, the Chairman of the Pakistan Cricket Board (PCB), will assume the role of President of the Asian Cricket Council (ACC) starting in January 2025. The announcement was made on August 5, 2024.
• Bibhuti Bhusan Nayak has been elected President of the Institute of Cost Accountants of India (ICMAI). This is a significant position within the organization, which plays a crucial role in the field of cost and management accounting in India.
• Daljit Singh Chawdhary took additional charge as the Director General of the Border Security Force (BSF) on August 3, 2024. This appointment is significant as it comes at a crucial time for the BSF, which is responsible for guarding India’s borders. Chawdhary’s extensive experience in law enforcement is expected to bolster the BSF’s operational capabilities.
• Obituaries:
• Yamini Krishnamurthy, the legendary Bharatanatyam and Kuchipudi dancer, passed away at the age of 83. Known for her mastery in Bharatanatyam, Kuchipudi, and Odissi, she was a trailblazer in Indian classical dance.

Questions:

1 Who took additional charge as the Director General of the Border Security Force (BSF) on August 3, 2024?

• A) Ravi Agrawal
• B) Nitin Gupta
• C) Shivraj Singh Chouhan
• D) Daljit Singh Chawdhary

Answer: D) Daljit Singh Chawdhary took additional charge as the Director General of the Border Security Force (BSF) on August 3, 2024.

2 In 2023, which country became India’s second-largest supplier of liquefied natural gas (LNG)?

• A) Qatar
• B) United States
• C) UAE
• D) Russia

Answer: B) In 2023, the United States surpassed the UAE to become India’s second-largest supplier of liquefied natural gas (LNG), providing 3.09 million tonnes (MT) of LNG.