Current Affairs One - Liner : 13th September 2024

• National:
• The Ministry of Steel hosted the “Greening Steel: Pathway to Sustainability” event on September 10, 2024, at C.D. Deshmukh Hall, India International Centre, New Delhi. The event featured the release of the report “Greening the Steel Sector in India: Roadmap and Action Plan” by Union Minister H. D. Kumaraswamy.

• On 9th September 2024, NTPC Green Energy Limited and Suzlon partnered to secure India’s largest wind energy order of 1,166 MW. This project will involve installing 370 wind turbine generators across three sites in Gujarat. It’s a significant step towards boosting India’s renewable energy capacity and is expected to power around 3 million households.
• The Telangana State government has decided to celebrate September 17 as Praja Palana Dinotsavam (People’s Governance Day). This day commemorates the integration of Hyderabad State into the Indian Union in 1948. The celebration aims to highlight the state’s governance and achievements under its current leadership.
• The Emirates Nuclear Energy Corporation (ENEC) and the Nuclear Power Corporation of India Limited (NPCIL) recently signed an agreement to enhance cooperation in several areas. This collaboration aims to focus on nuclear safety, research and development, and capacity building.
• India will be the exclusive partner for the European Hydrogen Week, taking place from November 18 to 22, 2024. This event will focus on advancements and collaborations in hydrogen technology between Europe and India.
• On September 11, 2024, the Union Cabinet approved a revised scheme to provide budgetary support for Hydro Electric Projects (HEP) with a total outlay of Rs 12,461 crore. This initiative aims to boost hydropower development in India, ensuring a more sustainable and reliable energy supply.
• The Ladakh Zanskar Festival in Sani, Zanskar, began on September 13-14, 2024. It features traditional dances, cultural exhibitions, and local cuisine, all set against the stunning backdrop of snow-capped mountains. This festival is a vibrant celebration of Zanskar’s rich cultural heritage.
• International:
• Mexico's historic move on 11 September 2024, making it the first country in the world to allow voters to elect judges at all levels, marks a significant shift in its judicial system. This decision aims to enhance judicial transparency, accountability, and democracy, enabling citizens to directly participate in choosing the judges who preside over cases in courts, from local to national levels.
• Banking:
• The Aviva Signature Increasing Income Plan was launched by Aviva Life Insurance on September 11, 2024. This plan is designed to provide policyholders with increasing income benefits over time, ensuring a growing financial cushion. It aims to offer both protection and a steady income stream, adapting to the policyholder’s evolving financial needs.
• AU Small Finance Bank partnered with United India Insurance Company (UIIC) on September 6, 2024, to distribute insurance products. This collaboration aims to enhance the bank’s product offerings and provide comprehensive insurance solutions to its customers.
• Deposits of all scheduled banks in India fell by ₹5,860 crore during the fortnight ending August 23, 2024. Meanwhile, credit growth remained strong, with advances increasing by ₹66,655 crore. This trend indicates a shift towards alternative investments like mutual funds and equities, which are currently offering better returns than traditional bank deposits.
• The Reserve Bank of India (RBI) recently imposed monetary penalties on Axis Bank and HDFC Bank for non-compliance with certain regulatory guidelines. Axis Bank was fined ₹1.91 crore, while HDFC Bank received a penalty of ₹1 crore.
• The Centre notified the National Bank for Financing Infrastructure and Development (NaBFID) as a ‘Public Financial Institution’ on September 10, 2024. This designation allows NaBFID to access certain regulatory benefits and support, enhancing its role in financing large-scale infrastructure projects across India.
• Economy:
• The Index of Industrial Production (IIP) in India grew by 4.8% in July 2024, driven by a 4.6% increase in the manufacturing sector and a 7.9% rise in electricity production. The mining sector also saw a 3.7% growth. Key highlights include a 12.0% growth in capital goods and an 8.2% increase in consumer durables.
• India’s retail inflation, based on the Consumer Price Index (CPI), rose to 3.65% in August 2024, up from 3.6% in July 2024. Despite this slight increase, the inflation rate remains within the Reserve Bank of India’s target range of 2-6%.
• MoUs:
• The Khadi and Village Industries Commission (KVIC) and the National Institute of Fashion Technology (NIFT) signed the MoU for the ‘Centre of Excellence for Khadi-2.0’ (CoEK-2.0) on September 13, 2024, in New Delhi. The initiative aims to make Khadi more popular and marketable both domestically and internationally. NIFT will assist in training, designing garments, renovating Khadi Bhavans, and developing new high-quality Khadi products.
• On September 11, 2024, the Ministry of Skill Development and Entrepreneurship (MSDE) signed an MoU with Swiggy in New Delhi. This partnership aims to launch the Swiggy Skills initiative, focusing on skilling and employment opportunities for delivery partners, restaurant staff, and others through online courses and training.
• Committees:
• The first meeting of the Governing Board of the Anusandhan National Research Foundation (ANRF) was chaired by Prime Minister Narendra Modi on September 10, 2024. Key initiatives discussed included the Partnerships for Accelerated Innovation and Research (PAIR), Mission for Advancement in High-impact Areas (MAHA), and ANRF Centre of Excellence (ACE).
• Summits & Conferences:
• The EW Conference “Spectrum” 2024 took place at the Base Repair Depot in Najafgarh, New Delhi on September 13, 2024. The event, themed “EW: Trends, Technologies & Maintenance Challenges”, was inaugurated by Air Marshal Vijay Kumar Garg. It featured participants from academia, DRDO, DPSUs, and the defense industry, focusing on the importance of indigenously developing and sustaining Electronic Warfare systems.
• Apps & Portals:
• The Indian government launched the ‘Rangeen Machhli’ app on September 13, 2024. This app aims to support the ornamental fisheries sector by providing resources and information for hobbyists, aquarium shop owners, and fish farmers.
• Reports:
• A report by Informa Connect Academy, titled the “2024 Trillion Dollar Club,” predicts that Elon Musk will become the world’s first trillionaire by 2027, followed by Gautam Adani in 2028. This projection is based on the rapid growth of their respective ventures, such as Tesla and SpaceX for Musk, and Adani Group for Adani.
• Appointments:
• R. Ravindra was appointed as India’s next Ambassador to Iceland on September 10, 2024. This appointment is part of India’s ongoing diplomatic reshuffle to strengthen international relations.
• On September 9, 2024, the Appointments Committee of the Cabinet (ACC) approved the appointment of six senior advocates as Additional Solicitor Generals (ASG) in the Supreme Court. The appointed ASGs are Aishwarya Bhati, Balbir Singh, KM Nataraj, Madhavi Divan, N Venkataraman, and Sanjay Jain. These appointments bring diverse expertise in constitutional, tax, criminal, media, commercial, and civil law to the Supreme Court.
• Awards & Honours:
• Rashtriya Ispat Nigam Limited (RINL) received the prestigious CII-GBC National Energy Leader Award for the sixth consecutive year on September 12, 2024. This award highlights RINL’s consistent efforts in energy efficiency and conservation.
• Obituaries:
• Sitaram Yechury, a prominent Indian politician and leader of the Communist Party of India (Marxist), passed away at the age of 71 on 12 September 2024 in New Delhi after a prolonged illness.

Questions:

1 What was NaBFID designated as by the Centre on September 10, 2024?

• A) Commercial Bank
• B) Regional Rural Bank
• C) Public Financial Institution
• D) Non-Banking Financial Company

Answer: C) The Centre designated the National Bank for Financing Infrastructure and Development (NaBFID) as a 'Public Financial Institution' (PFI) on September 10, 2024. This allows it to access specific regulatory benefits to enhance infrastructure financing.

2 Who was appointed as India’s next Ambassador to Iceland on September 10, 2024?

• A) R. Ravindra
• B) Vijay Gokhale
• C) Taranjit Singh Sandhu
• D) Harsh Vardhan Shringla

Answer: A) R. Ravindra was appointed as India’s next Ambassador to Iceland as part of India’s ongoing diplomatic reshuffle to strengthen international relations.