Daily Current Affairs and GK | 11 and 12 August 2024

Topic: Sports

1. Paris Olympics 2024 has been concluded and India finished at the 71st spot in the overall medal tally.

• India secured 6 medals, including one silver and five bronze medals.

• At the 2020 Tokyo Olympics, India had finished 48th spot with a total of 7 medals, including one gold, two silver, and four bronze medals.
• On the final day, Sifan Hassan of the Netherlands won her third medal in the women's marathon.
• In an Olympic record time of two hours 22 minutes 55 seconds, Hassan finished three seconds ahead of Ethiopian competitor Tigst Assefa.
• Tigst Assefa of Ethiopia earned a silver medal.
• The Summer Olympics in 2028 are scheduled to take place in Los Angeles.
• After 1932 and 1984, Los Angeles will host the games for the third time.

Topic: Indian Economy

2. FDI inflows in the manufacturing sector increased almost 69% and reached $165.1 billion in last 10 years (2014-24).

• FDI inflows in the manufacturing sector was $97.7 billion in the 2004-14 period.
• FDI inflow of $383.5 billion came during 2019-20 to 2023-24 alone.
• This inflow was mainly driven by production-linked incentive (PLI) schemes.
• According to the latest government data, 755 applications for PLI schemes have been granted in 14 key areas.
• Up till March, investments totalling Rs 1.23 lakh crore were achieved, creating about 8 lakh jobs.
• An outlay of Rs 1.97 lakh crore was announced for the PLI initiatives covering 14 important sectors.
• The PLI programs are designed to draw capital into key sectors.
• The production of mobile phones and certain electronic components, pharmaceuticals and their ingredients, medical services, autos and auto parts, steel, telecommunications, textiles, food, and other items are among the key sectors.

Topic: National News

3. Union Minister Dr. Jitendra Singh proposed a National Geospatial Data Repository.

• Union Minister Dr. Jitendra Singh proposes a National Geospatial Data Repository and PPP model while chairing a joint meeting of all the Science Ministries and Departments of the Government of India.
• The Department of Space, Department of Science and Technology, and Ministry of Earth Sciences will create a unified geospatial interface for utilising industry and start-up ecosystems to create innovative and indigenous products for the welfare of farmers, rural artisans and others.
• The Unified Web repository of Indian Science and technology will be made live and feedback will be shared with the minister.
• Dr. Jitendra Singh reviewed the present status of ‘One common portal’ for all kinds of research under dept. Of Biotechnology.
• Dr Jitendra Singh also reviewed the progress of the proposed “Vigyan Shakti” portal.
• He also highlighted the Mantra of the sustainable ecosystem based on the pooling of knowledge and resources in collaboration with the non-governmental sectors in PPP mode.

Topic: State News/ Odisha

4. Odisha government launched India’s first rice ATM.

• The Annapurti Grain ATM can release up to 50 kg of grain in five minutes and operates around the clock.
• This rice ATM will revolutionize the Public Distribution System (PDS) for ration cardholders.
• This machine has been installed at a warehouse in Mancheswar.
• It has been launched by the Odisha Food Supplies and Consumer Welfare Minister Krushna Chandra Patra.
• After entering the ration card number, the biometric verification is done by this machine. ATM dispense the rice after successful verification.
• The machine has been developed in partnership with the World Food Programme.
• The rice ATM will be installed in all 30 districts of Odisha.

Topic: Defence

5. IAF participated in Exercise Udara Shakti 2024 in Malaysia.

• Exercise Udara Shakti 2024 was conducted in collaboration with the Royal Malaysian Air Force (RMAF) from 05 to 09 August 2024 at Kuantan, Malaysia.
• The IAF participated in this exercise with Su-30MKI fighter jets.
• During the exercise, IAF's Su-30MKI fighter jets engaged in air combat missions with the RMAF's Su-30MKM fighters.
• The main aim of the exercise is to boost operational efficiency and technical experts of both Air Forces.
• In this exercise the crews of both the air forces got familiar with each other's operational protocols.
• It will enhance interoperability, commonality and overall effectiveness in Su-30 aircraft operations.

Topic: Sports

6. First-ever Global Women’s Kabaddi League will take place in Haryana.

• The Global Pravasi Women’s Kabaddi League (GPKL) will begin in Haryana in September.
• Female athletes from over 15 countries will participate in this tournament.
• It will be organized by the Holistic International Pravasi Sports Association (HIPSA) in partnership with World Kabaddi.
• A Memorandum of Understanding (MoU) was recently signed between HIPSA and the Government of Haryana to facilitate this initiative.
• Teams from different countries, including England, Poland, Argentina, Canada, and Italy will participate in this tournament.

Topic: Awards and Prizes

7. Timor-Leste’s highest civilian award presented to President Droupadi Murmu.

• On August 10, President Draupadi Murmu was conferred the Grand Collar of the Order of Timor-Leste, the country's highest civilian award, presented by President Ramos-Horta.
• The award recognizes "her achievements in public service and dedication to education, social welfare and women's empowerment".
• This is the first time an Indian President has visited Timor-Leste.
• President Murmu arrived in Dili on the first presidential visit to Timor-Leste from India, where both countries are looking to further advance their bilateral relations.
• President Draupadi Murmu underlined the strong and friendly relations between India and Timor-Leste, based on shared values ​​of democracy and pluralism.
• The two countries also discussed the possibility of Timor-Leste joining the International Solar Alliance.

Topic: Agriculture and Allied Sector

8. 109 climate-resilient seed varieties released by PM Modi to increase agricultural production and nutrition.

• On August 11, 2024, 109 high-yielding, climate-resilient and bio-fortified seed varieties of agricultural and horticultural crops were released by PM Narendra Modi, aimed at increasing agricultural productivity and farmers' income.
• These varieties, developed by the Indian Council of Agricultural Research (ICAR), are suitable for 61 crops, including 34 regional crops and 27 horticultural crops.
• The seeds were unveiled by Mr Modi at three experimental farming sites at the Pusa campus in Delhi, where he also interacted with farmers and scientists.
• The varieties of field crops include cereals, millets, forage crops, oilseeds, pulses, sugarcane, cotton and fibre crops.
• For horticulture, the Prime Minister released new varieties of fruits, vegetables, plantation crops, tubers, spices, flowers and medicinal plants.

Topic: Personality in News

9. On 11 August, former Foreign Minister K. Natwar Singh passed away at the age of 95.

• He served as the Minister of External Affairs in the cabinet of former UPA Prime Minister Dr. Manmohan Singh in 2004–05.
• Natwar Singh, a prolific author and historian, began his career as an Indian Foreign Service officer in 1953.
• He took premature retirement in 1984 from IFS when contested the election from Bharatpur, Rajasthan and became a Lok Sabha MP.
• He was awarded the Padma Vibhushan, the second highest civilian award, after serving as head of the Preparatory Committee for the Non-Aligned Summit in New Delhi in 1983.
• He was a prolific writer, writing several books including one on Jat ruler of Bharatpur Suraj Mal.
• In 2014, his autobiography One Life Is Not Enough was published.

Topic: Important Days

10. World Elephant Day 2024: 12 August

• Every year on August 12, World Elephant Day is observed.
• It is celebrated to recognize the importance of elephants in our ecosystem.
• The theme of World Elephant Day 2024 is “Personifying prehistoric beauty, theological relevance, and environmental importance”.
• The day also aims to raise awareness about the importance of the protection of elephants.
• Elephants are the largest land animals in the world.
• On 12 August 2012, the first World Elephant Day was celebrated by Thailand's Elephant Reintroduction Foundation and Canadian filmmakers Patricia Sims and Michael Clarke.
• India is home to about 60% of all Asian elephants.
• The IUCN Red List lists African elephants as vulnerable and Asian elephants as endangered.

Topic: Indian Polity

11. Banking Laws (Amendment) Bill, 2024, was introduced by the Finance Minister Nirmala Sitharaman on 09 August 2024 in Lok Sabha.

• The bill provides customers an option to increase the number of nominees per bank account from existing one to four.
• The bill proposes change related to redefining ‘substantial interest’ for directorships.
• This could increase from the current limit of ₹5 lakh to ₹2 crore.
• The bill also gives more freedom to banks in deciding the how much remuneration is to be paid to statutory auditors.
• Additionally, it changes the dates on which banks must report for regulatory compliance.
• It changes the dates from the second and fourth Fridays to the 15th and final day of each month.
• The Bill proposes to amend the following acts.
  • Reserve Bank of India Act, 1934
  • Banking Regulation Act, 1949
  • State Bank of India Act, 1955
  • Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 
  • Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980
• The Finance Minister made announcement about the amendments to the Banking Regulation Act during her 2023–24 Budget speech.

Topic: Important Days

12. World Lion Day: 10 August

• World Lion Day is celebrated annually on 10 August to raise public awareness of the importance of lion conservation.
• First World Lion Day was celebrated in 2013. It was co-founded by Dereck and Beverly Joubert of the Big Cat Initiative and National Geographic in a partnership.
• Big Cat Rescue is the world’s largest accredited sanctuary dedicated to big cats.
• Lion population has been declining due to habitat loss, human-wildlife conflict, and poaching.
• World Lion Day serves as the reminder of the important role lions play in ecosystem.
• They are apex predators. They play a role in maintaining the ecological balance.
• They control the populations of herbivores and ensure the regeneration of forests and grasslands.
• They help prevent the spread of diseases in prey populations.
• India is home to the Asiatic lion. They are found only in the Gir Forest.
• The lion population in this region has grown from approximately 523 in 2015 to around 674 in 2020.
• Project Lion was announced on August 15, 2020. It is aimed at securing the future of Asiatic lions.
• International Big Cats Alliance was launched in April 2023 o foster international cooperation among 97 range countries.

(Source: PIB)

Topic: State News/Gujarat

13. Gujarat CM launched IACC's Centre of Excellence for MSME.

• Gujarat Chief Minister Bhupendra Patel inaugurated the Indo-American Chamber of Commerce's (IACC) Centre of Excellence for MSME.
• It will be the first-ever centre by IACC, which aims to upgrade and strengthen micro, Small and medium enterprises (MSMEs).
• Bhupendra Patel said that MSMEs are the backbone of the economy.
• The MSME sector will play a crucial role in making India the third-largest economy.
• Indo-American Chamber of Commerce (IACC):
  • It was established in 1968.
  • It is the apex bilateral Chamber synergizing India-US Economic Engagement.
  • It was started by Ambassador Chester Bowles along with the then-industry leaders.

Topic: Reports and Indices

14. Roshni Nadar Malhotra is India's most influential woman, leading a family-owned business.

• She has found top place in the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses report.
• Roshni Nadar Malhotra is the chairperson of HCL Technologies.
• The second-best-known woman is Nisaba Godrej, who comes from the Godrej family.
• Sushila Devi Singhania of JK Cement, Manju D. Gupta of Lupin, Meher Pudumjee of Thermax, Amita Birla of Birlasoft, Leena Gandhi Tewari of USV, Mahima Datla of Biological E, Bina Modi of Godfrey Phillips India, and Jyothy Ramachandran of Jyothy Laboratories are a few other well-known female leaders.
• With a valuation of Rs 25.75 trillion, the Ambani family has topped the inaugural Barclays-Hurun India's most valuable family businesses list.
• The rankings are determined based on the company valuations as of March 20, 2024.
• The Ambani family is followed by the Bajaj family in second place. The Birla family ranks third.
• The Nadar family comes in at number five on the list, after the Sajjan Jindal-led family in fourth position.
• Roshni Nadar Malhotra of the Nadar family is the sole female member of the top 10 family businesses.
• First-generation families are not included in the 2024 Barclays Private Clients Hurun India Most Valuable Family Businesses list.
• However, the Adani family, founded by current chairman Gautam Adani, has emerged as the most valuable first-generation family business.