Daily Current Affairs and GK | 29 July 2023

Topic: Corporates/Companies

1. Government allow Indian companies to list their share on foreign exchanges operating at IFSC.

• Union Finance Minister Nirmala Sitharaman said that Indian companies can now list their share on foreign exchanges operating at GIFT City-based International Financial Services Centre (IFSC) in Gujarat.
• The government has decided to enable the direct listing of listed and unlisted companies on the IFSC exchanges.
• It is a major step towards enabling Indian companies to access global capital at a better valuation.
• Union Finance Minister also inaugurated the Corporate Debt Market Development Fund (CDMDF) and initiated the muhurat trading on the Limited Purpose Clearing Corporation mechanism called AMC Repo Clearing Limited (ARCL).
• It will help in developing a vibrant corporate bond market in India.
• LPCC's mechanism aim is to clear and settle corporate bond repo transactions and to develop an active repo market. It will improve the liquidity in the underlying corporate bond market.
• It will allow market makers for accessing cost-effective funding for their inventory and to meet their short-term liquidity needs without liquidating assets.
• CDMDF will purchase and hold eligible corporate debt securities from participating investors.
• CDMDF is notified as an Alternative Investment Fund (AIF) as a Trust under SEBI (AIF) Regulations. It will purchase investment-grade debt securities in both stressed and normal times and help in the development of the bond market.

Topic: Reports and Indices/Ranking

2. As per the SBI report, India is likely to become the 3rd largest economy in 2027.

• According to the SBI’s economic research report ‘Ecowrap’, India is likely to become 3rd largest economy in 2027 (or FY28).
• This projection is based on actual GDP data as on March 2023.
• This is an upward movement of seven places since 2014 when India was ranked 10th.
• Maharashtra and Uttar Pradesh will break the $500-billion mark in 2027 (or FY28).
• As per the report, India will surpass both Japan and Germany in 2027 at the current growth rate.
• The report has been prepared by SBI’s Economic Research Department (ERD).
• India is likely to add $0.75 trillion every 2 years. India is likely to touch $20 trillion by 2047.
• India’s global share in GDP will reach beyond 4% by 2027.
• Economic Research Department highlighted India needs to grow at a CAGR (compounded annual growth rate) of 8.4% till 2027.

Topic: Biotechnology and Diseases

3. Nagaland has been officially declared as a Lumpy Skin Disease Positive State.

• Lumpy skin disease has been found in eight districts of Nagaland. More than 900 cattle were found affected by this disease.
• The eight districts where LSD has been found are Mon, Kohima, Mokokchung, Niuland, Peren, Chumoukedima, Phek and Tuensang.
• 'Thutho' cattle are the most affected from this disease, which are indigenous to Nagaland.
• 'Thutho' is a new cattle breed in India. It was registered on January 24, 2020.
• Thutho cattle are medium in size, hardy, well-built and docile. Their population is around 53000.
• This official declaration has been made under the Prevention and Control of Infectious and Contagious Diseases in Animals Act, 2009.
• The Directorate of Animal Husbandry & Veterinary Services is taking all necessary preventive measures as per the advisory and guidelines of the Department of Animal Husbandry and Dairying.
• As per the state government data, a total of 44,853 susceptible animals (cattle) have to be vaccinated in these districts.
• Last year, Rajasthan, Maharashtra, Punjab, Karnataka, Himachal Pradesh, Gujarat, Haryana and Jammu & Kashmir were affected by this disease.
• Lumpy Skin Disease:
  • It is caused by the virus "capripoxvirus".
  • It mainly infects cattle and buffaloes through blood-feeding insects.
  • Weight loss, fever, mouth sores, and decreased milk production are all symptoms that appear quickly after infection in animals.

Topic: State News/ Madhya Pradesh

4. India's first online gaming academy opened in Madhya Pradesh.

• The Madhya Pradesh government's sports department has extended the E-sports Jr Championship registration date from July 27 to August 1.
• It has been started in view of the huge demand for admission to India's first online gaming academy.
• The Academy has received an astonishing 40,000 registrations for the 200 available seats.
• Aspiring young e-sports athletes will secure their place in the academy on the basis of their ranking in the championship.
• In the selection process, 80% of seats are reserved for the youth of the state and 20% of seats are reserved for the participants from other regions.
• Youth in the age group of 12 to 17 years can register online for the e-Sports Junior Championship.
• The championship will have two categories: 'Open' and 'Professional', and participants can register individually or as teams.
• The selected youth will receive comprehensive training to compete at the international level.

Topic: Important Days

5. World Nature Conservation Day 2023: 28 July

• Every year on 28 July, World Nature Conservation Day is observed.
• It is celebrated to raise awareness about the importance of conserving nature and natural resources.
• The main aim of the day is to protect various natural resources such as water, air, soil, energy, vegetation, minerals and animal life.
• The theme of World Nature Conservation Day 2023 is 'Forests and Livelihoods: Sustaining People and Planet.'
• According to the United Nations Food and Agriculture Organization, 90% of the Earth's topsoil is expected to be at risk by 2050.

(Source: News on AIR)

Topic: Indian Polity

6. ED chief SK Mishra’s tenure extended by SC until Sept 15 in ‘larger public interest.'

• On 27 July, the Supreme Court allowed Sanjay Kumar Mishra to continue as the Enforcement Directorate (ED) director until September 15.
• The permission has been given keeping in mind the "larger public interest" in view of the ongoing review of India by the Financial Action Task Force (FATF).
• Earlier on 11 July, Supreme Court quashed the Union government’s decision to extend the tenure of Enforcement Directorate (ED) chief Sanjay Kumar Mishra for the third time.
• The Supreme Court termed the order as "illegal" but allowed Sanjay Mishra to continue in office till July 31.
• The court said that "no further extension will be granted to Mishra" and directed that he would “cease to be Director of ED with effect from the midnight of 15-16 September 2023".
• The Center had requested the court to extend his term till October 15, 2023, citing the FATF review.
• Sanjay Mishra was first appointed the ED director in 2018 for two years.

Topic: Summits/Conferences/ Meetings

7. All India Education Summit has been inaugurated by PM Modi at Pragati Maidan, Delhi on 29 July.

• Various topics were discussed in sixteen sessions organized in the Samagam.
• This included access to quality education and governance, equitable and inclusive education, issues of socio-economically disadvantaged groups, national institution ranking framework, and internationalization of education, among others.
• This program has been organized on the occasion of the third anniversary of the implementation of the National Education Policy 2020.
• The new National Education Policy has brought transformational changes in the education scenario.
• During the program, the Prime Minister released the first installment of funds under the Pradhan Mantri School for Rising India-Shri Yojana.
• PM-Shri will be a modern, transformative, and holistic way of imparting education in schools.
• Students in these schools will be nurtured in such a way that they become contributing citizens in building an equitable, inclusive, and pluralistic society as envisaged in the National Education Policy 2020.
• The two-day event will provide a platform for academicians, policymakers, industry representatives, teachers, and students from schools to share their insights and best practices in implementing NEP 2020.
• Under this scheme, there is a provision to open more than 14 thousand 500 PM Shree Schools across the country by further strengthening the existing schools.
• The Prime Minister also released books on education and skill courses translated into twelve Indian languages.

(Source: News on Air)

Topic: Art and Culture

8. Ashoora-e-Muharram was celebrated with religious faith and reverence in the country on 29 July.

• July 29, 2023, was celebrated as Ashoora-e-Muharram, which is the 10th day of Muharram.
• The day marks the martyrdom of Imam Hussain, son of Hazrat Ali and grandson of Prophet Muhammad, who was beheaded during the Battle of Karbala in 680 AD.
• "Ashoora" is derived from the Arabic word for the number 10.
• This day is very important for the Muslim community around the world. It is the first month of the Islamic or Hijri calendar.
• Based on the 12 lunar months - the sight of a new moon represents the beginning of a new month in the calendar.
• On this occasion, the Tajia procession is taken out.
• Majaalis or religious meetings are also organized in memory of the supreme sacrifice of the martyrs of Karbala.

Topic: State News/ Uttar Pradesh

9. UP government expanded the ‘Bal Shramik Vidya Yojana’ to all 75 districts.

• To reach out to 5,000 children, the UP government decided to expand the ‘Bal Shramik Vidya Yojana’ to all 75 districts.
• The main aim of the scheme is to educate child labour. It is currently being implemented in 20 districts and benefitting 2,000 children.
• Selected Children of the age group of 8 to 18 years involved in agriculture, self-employment, home-based establishments, domestic work, and other forms of labour will get financial assistance.
• Under the Bal Shramik Vidya Yojana, the beneficiary boys and girls will receive financial assistance of Rs 12000 and Rs 14400 annually.
• Apart from this, working children of landless families are also eligible for the scheme.
• The only condition for getting financial assistance is 70 per cent attendance in the school.
• Families in which the mother or father has passed away will be eligible to take advantage of the scheme.
• If these children pass classes 8, 9 and 10, they get an additional Rs 6,000 for clearing each level.
• This scheme was launched in 2020 by CM Yogi Adityanath. More than 2000 children from various organizations are enrolled in this scheme.

Topic: Summits/ Conferences/ Meetings

10. Lok Sabha Speaker Om Birla inaugurated the 20^th conference of the Commonwealth Parliamentary Association India Region.

• In Shillong, the 20th conference of the Commonwealth Parliamentary Association India Region has been inaugurated.
• The four-day conference will deliberate on natural disasters and management strategies with special reference to the North Eastern region.
• The delegated participants will also hold a discussion on the topic of regional connectivity in the northeast region as par with the rest of India.
• It will be also attended by MPs, Meghalaya MLAs and other dignitaries.
• It will conclude on July 30 with an address by the Governor of Meghalaya Phagu Chauhan.
• Lok Sabha Speaker also inaugurated the new building of the Assam Legislative Assembly in Guwahati.

Topic: MoUs and Agreements

11. A USD 295 million loan pact signed by the Asian Development Bank (ADB) and the central government of India on 27 July.

• The loan agreement has been signed to upgrade around 265-kilometer state highways with climate and disaster-resilient design and road safety elements in Bihar.
• The aim of the project is to support the Government of Bihar's program to upgrade all state highways to standard two-lane widths and improve road safety.
• The project will also encourage women's participation by providing employment to women workers in construction works.
• In this project, Women from the communities will be provided with training in livelihood as well as awareness about road safety, health, hygiene, abuse, and harassment.
• Since 2008, Bihar has received five loans from ADB totaling USD 1.63 billion for the improvement of over 1,696 km of state roadways and the building of a new bridge over the Ganga.

Topic: Important Days

12. International Tiger Day: 29 July

• Every year on 29 July, International Tiger Day is observed all over the world.
• This day was adopted during the 2010 St. Petersburg Tiger Summit in Russia.
• This year, India also celebrated the completion of 50 years of Project Tiger.
• India first launched Project Tiger on April 1, 1973 under the leadership of the then Prime Minister Indira Gandhi.
• According to the statistics of the Government of India, there are currently around 3000 tigers in India, which is 70 per cent of the tiger population in the world.
• India is home to over half of the world's wild tigers. The tiger is listed as Endangered on the IUCN Red List.

(Source: News on AIR)

Topic: Miscellaneous

13. Bengaluru becomes the first Indian city to join World Cities Culture Forum.

• Bengaluru has been included in the World Cities Culture Forum (WCCF).
• It is a global network of cities that share research and intelligence, and explore the role of culture in future prosperity.
• This network has currently 40 cities in six continents. Bengaluru is the latest city to join the league.
• New York, London, Paris, Tokyo and Dubai are part of the World Cities Culture Forum.
• This global consortium was created in 2012 by Justine Simons OBE.
• Bengaluru has been included in this network after several discussions.
• In many ways, Bengaluru represents the aspiration of India.

Topic: MoUs/Agreements

14. India AI and Meta, India signed an MoU for promoting AI & Emerging Technologies.

• ‘India AI’ – an IBD under Digital India Corporation and Meta, India have signed an MoU for enhancing collaboration in the field of AI and Emerging Technologies.
• The main objective of the MoU is to create a framework for collaboration and cooperation between ‘India AI’ and Meta in the field of Artificial Intelligence & Emerging Technologies.
• They may also consider establishing a Centre of Excellence to nurture the start-up ecosystem of AI and other Emerging Technologies.
• India AI’ and Meta will work to enhance accessibility to AI computing resources for researchers, startups, and organizations with limited resources.
• ‘India AI’ and Meta will also work for a common goal of raising awareness about AI’s potential benefits and risks.
• They will also work together to promote responsible AI practices through the collaborative development of comprehensive tools and guidelines.