Current Affairs One - Liner : 24th September 2024

• National:
• On September 13, 2024, MoES Secretary M. Ravichandran unveiled the Integrated Ocean Energy Atlas by INCOIS. This atlas maps renewable energy potential from marine sources within India’s EEZ, estimating up to 9.2 lakh TWh per annum. It aims to aid policymakers and industries in harnessing marine energy, supporting India’s sustainable blue economy.

• India’s first CO2-to-methanol pilot plant, located at Thermax Limited in Pune, had its foundation stone laid on September 14, 2024. This initiative aims to advance Carbon Capture and Utilization (CCU) technologies, converting CO2 emissions into useful methanol.
• In July 2024, the Employees’ Provident Fund Organisation (EPFO) saw a record net addition of 19.94 lakh members, the highest since April 2018. This increase highlights improved employment opportunities and successful outreach efforts by EPFO.
• Union Minister Manohar Lal inaugurated the Computer Security Incident Response Team – Power (CSIRT-Power) facility on September 23, 2024, in New Delhi. This facility aims to enhance the cybersecurity resilience of India’s power sector by coordinating incident responses and implementing robust cybersecurity measures.
• The Maharashtra government has approved renaming Pune’s Lohegaon International Airport to Jagadguru Sant Tukaram Maharaj Pune International Airport. This honors the 17th-century saint known for his devotional poetry and influence on the Bhakti movement.
• International:
• Azerbaijan is launching the Climate Finance Action Fund (CFAF) with an initial goal of raising $1 billion. The fund will support climate projects in developing countries, enhance Nationally Determined Contributions (NDCs), and provide rapid response funding for natural disasters. This initiative positions Azerbaijan as a leader in climate finance ahead of COP29.
• Banking:
• The Ministry of Corporate Affairs (MCA) has extended the deadline for the mandatory dematerialisation of existing shares of producer companies from September 30, 2024, to March 2028. This extension aims to provide more time for these companies, particularly those involving small farmers and rural producers, to transition their physical shares into electronic form.
• The value of UPI transactions in India reached ₹1,669 lakh crore during the first five months of FY 2024-25 (April-August), with a volume of 8,659 crore transactions. This surge underscores the country's growing adoption of digital payments, revolutionizing financial transactions with real-time, secure, and seamless payments.
• On September 20, 2024, the Asian Development Bank (ADB) approved a USD 50 million loan to enhance water resource management and climate resilience in Meghalaya. This initiative aims to improve water security and support sustainable development in the region.
• The State Bank of India (SBI) has sanctioned a ₹10,050 crore loan to Damodar Valley Corporation (DVC) for a 1600 MW Ultra Super Critical Thermal Power Project in Koderma, Jharkhand. This project, comprising two 800 MW units, aims to enhance India’s thermal power capacity by 2030.
• The Ministry of Labour & Employment has increased the Provident Fund (PF) withdrawal limit to Rs 1 lakh from Rs 50,000 as of September 17, 2024. This change aims to provide greater financial flexibility to employees, especially during emergencies. The ministry has also introduced a new digital framework to simplify the withdrawal process.
• Products Launched by Banks:
• IDFC First Bank Limited launched the ‘Ashva’ and ‘Mayura’ credit cards on September 23, 2024. These cards are part of their premium segment, offering exclusive benefits tailored for different customer needs. The ‘Ashva’ card focuses on travel and lifestyle perks, while the ‘Mayura’ card offers rewards on everyday spending.
• Economy:
• The HSBC Flash India Composite PMI for September 2024 fell to 59.3 from 60.7 in August. This indicates a slowdown in business activity growth, marking the slowest pace of expansion this year. However, the index remains above 50, signaling ongoing growth in the Indian private sector.
• MoUs:
• The Government of Meghalaya and the Bill & Melinda Gates Foundation signed an MoU on September 24, 2024, in Meghalaya. The agreement, signed by Mr. Sampath Kumar and Mr. M. Hari Menon, aims to enhance health, nutrition, and agriculture in the state.
• Reports:
• The “Crime in India 2022” report by the National Crime Records Bureau (NCRB) On 23rd September 2024, highlights that Uttar Pradesh, Rajasthan, and Madhya Pradesh recorded the highest number of atrocities against Dalits. Uttar Pradesh had 12,287 cases, Rajasthan 8,651, and Madhya Pradesh 7,732. These three states alone accounted for over half of the total cases reported across India.
• Summits & Conferences:
• The 10th Commonwealth Parliamentary Association (CPA) India Region Conference was held in New Delhi on September 23-24, 2024. Chaired by Lok Sabha Speaker Om Birla, the conference focused on the theme “Role of Legislative Bodies in Achieving Sustainable and Inclusive Development.” It aimed to discuss the role of legislative bodies in promoting sustainable development goals (SDGs) and ensuring inclusive growth, with participation from presiding officers and secretaries of state legislatures across India.
• South Korea’s Ambassador to Austria, Sang Wook Ham, has been elected as the President of the 68th General Conference of the IAEA, held from September 16 to 20, 2024, in Vienna. The theme is “Strengthening Global Nuclear Safety and Security,” focusing on nuclear non-proliferation, safety, security, and the peaceful uses of nuclear energy. This highlights South Korea’s leadership in international nuclear governance.
• Important Days:
• International Coastal Cleanup Day 2024 was observed on September 21 with the theme “Clean Seas, Healthy Communities”. This event, organized by Ocean Conservancy, aims to reduce marine pollution and protect ocean health.
• The International Week of Deaf People 2024 was celebrated from September 23 to 29. The theme was “Sign up for Sign Language Rights”, focusing on various aspects like inclusive education, sign language advocacy, and deaf cultural celebrations. This week aimed to raise awareness about the rights and contributions of deaf people globally.
• Appointments:
• Kalikesh Narayan Singh Deo was elected as the president of the National Rifle Association of India (NRAI) on September 21, 2024. His election marks a significant leadership change in the organization, aiming to enhance the development of shooting sports in India.
• Alok Ranjan was appointed as the Chief of the National Crime Records Bureau (NCRB) on September 21, 2024. He is a 1991-batch IPS officer from the Madhya Pradesh cadre and will serve until his superannuation on June 30, 2026.
• Jitendra J Jadhav took over as the Director General of the Aeronautical Development Agency (ADA) on September 11, 2024. His role involves overseeing the development of advanced aeronautical technologies and projects, including the Light Combat Aircraft (LCA) program.
• Krishnan Venkat Subramanian (KVS Manian) assumed charge as the Managing Director & CEO of Federal Bank on September 23, 2024. This appointment follows the conclusion of Shyam Srinivasan’s term on September 22, 2024.
• Awards & Honours:
• Pratyasa Ray, an accomplished swimmer from Odisha, has been awarded the 32nd Ekalabya Puraskar for 2024. She earned this recognition for her impressive performance at the Khelo India University Games, where she won six medals. The award includes a cash prize of Rs 7 lakh and a citation.
• Rhea Singha from Gujarat was crowned Miss Universe India 2024 on September 22, 2024, in Jaipur. Her victory marks a significant achievement in her pageant journey, showcasing her talent, grace, and dedication.
• On 20th September 2024, Bollywood producer Vinod Bachchan was honored with the Global Prestige Award at the UK Parliament’s House of Lords. This award recognizes his significant contributions to Indian cinema, including films like Tanu Weds Manu and Ginny Weds Sunny.

Questions:

1 What is the new Provident Fund (PF) withdrawal limit set by the Ministry of Labour & Employment as of September 17, 2024?

• A) ₹50,000
• B) ₹75,000
• C) ₹1 lakh
• D) ₹1.5 lakh

Answer: C) As of September 17, 2024, the Ministry of Labour & Employment increased the Provident Fund withdrawal limit from ₹50,000 to ₹1 lakh to offer greater financial flexibility, especially during emergencies.

2 Who assumed charge as the Managing Director & CEO of Federal Bank on September 23, 2024?

• A) Shyam Srinivasan
• B) Krishnan Venkat Subramanian (KVS Manian)
• C) Nitin Gupta
• D) Arun Bansal

Answer: B) Krishnan Venkat Subramanian, also known as KVS Manian, took over as the Managing Director & CEO of Federal Bank on September 23, 2024.