Daily Current Affairs August 01 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Securities and Exchange Board of India Considers Measures to Curb Retail Trading Surge in Futures and Options

• The Securities and Exchange Board of India (SEBI) has proposed a series of near-term measures to prevent speculative trading, such as gambling in index derivatives, which include curbing multiple option contract expiries and increasing the size of options contracts.

Key Highlights :

• SEBI proposed that the minimum contract size for index derivative contracts must be revised in two phases:
• Phase 1: Minimum value of derivatives contract at the time of introduction to be between ₹15 lakhs to ₹20 lakhs
• Phase 2: After six months, the minimum value of the derivatives contract will be between ₹20 lakhs to ₹30 lakhs.
• The SEBI also proposed weekly options contracts to be provided on a single benchmark index of an exchange and brokerages to collect option premiums on an upfront basis from their clients.
• It has also proposed an increase in margins on near-term expiry.
• The SEBI has proposed a series of short-term measures to curb speculative trading in index derivatives (futures & options).

About Futures and options :

• Futures and options are two fundamental types of derivatives in financial markets.
• They are financial contracts that derive their value from the performance of an underlying asset, such as stocks, commodities, currencies, or indexes.
• These instruments are used for hedging risks, speculating on price movements, and gaining leverage in financial markets.
• A futures contract is a standardized agreement to buy or sell a specific quantity of an asset at a predetermined price on a specific future date.
• An options contract gives the holder the right, but not the obligation, to buy (call option) or sell (put option) an underlying asset at a specified price (strike price) before or on a specified date.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Bank of Maharashtra to Raise ₹3,000 Crore Through Infrastructure Bonds

• Bank of Maharashtra (BoM) plans to raise up to ₹3,000 crore (approximately $358.27 million) through its first issue of infrastructure bonds.
• The issue includes a greenshoe option of ₹2,500 crore and will have a maturity period of 10 years.

Key Highlights :

• Current Issuance Details:The bank has invited bids for coupon and commitment for this bond issue.
• Previous Issuance:In July 2024, the bank raised ₹1,000 crore through Basel III compliant Tier II bonds with a maturity of 10 years and a coupon rate of 7.89%.
• Upcoming Deal Information:As of July 30,2024 details for the new issuance include:
• Tenure: 10 years
• Coupon Rate: To be decided
• Issue Size: 5+25 billion rupees (exact amount to be finalized)
• Rating: AA+ (as per ICRA, Careedge Ratings)

About BoM :

• Founded : 16 September 1935
• Headquarters : Pune, Maharashtra India
• MD & CEO : Nidhu Saxena
• Tagline : One Family One Bank

State Bank of India Secures $750 Million Through Offshore Term Loan Facility for Fund Deployment

• State Bank of India (SBI), the largest lender in the country, has raised $750 million through a Senior Unsecured Syndicated Term Loan Facility.
• The funds are intended for deployment in SBI’s lending operations.
• The facility was initially launched for $350 million in May 2024.
• It was oversubscribed 2.2 times due to strong global demand, resulting in the deal being upsized.

Key Highlights :

• Global Coordination: Mashreq Bank served as the sole global coordinator for the offering.
• The Saudi National Bank and Punjab National Bank were mandated lead arrangers.
• Other arrangers included DZ Bank, National Bank of Umm Al Qaiwain, Sampath Bank, and The National Bank.
• Use of Funds:The facility will be used for general corporate funding purposes of SBI.
• Recent Fund-Raising: During FY24, SBI raised over $2 billion in long-term resources.
• This includes $1 billion in syndicated deals, split into $500 million for three years and $500 million for five years.
• Future Plans:SBI’s board has approved a plan to raise $3 billion in FY25 through public offers and/or private placements of bonds in US dollars or other major foreign currencies.
• International Operations:SBI sanctioned $10.3 billion in foreign currency loans to India-related corporates and $16.2 billion to overseas entities in FY24.
• SBI plans to focus on expanding its business through the International Financial Services Centre (IFSC) in GIFT City, Gandhinagar, Gujarat.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India

Small Industries Development Bank of India Collaborates with C2treds and UGRO Capital to Boost Micro, Small and Medium Enterprises Loan Accessibility

• The Small Industries Development Bank of India (SIDBI) has partnered with C2treds and UGRO Capital to facilitate loans to the Micro, Small and Medium Enterprises (MSME) sector.
• C2treds offers liquidity to MSMEs within 24 hours via an online bidding process.

Key Highlights :

• C2treds operates under the Trade Receivables Discounting System (TReDS) initiative which enables the discounting of invoices and is regulated by the Reserve Bank of India (RBI) to support the MSME sector in India.
• Through this strategic collaboration, C2treds aims to enhance liquidity for MSMEs at competitive interest rates.
• C2FO is an on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide.
• As the apex institution for the promotion and development of MSMEs, Sidbi is fully committed to increasing the flow of credit to MSMEs.
• TReDS has become an effective tool for the prompt realization of MSMEs’ receivables and Sidbi is onboarded on all operational TreDS platforms.
• The partnership is established under the Reserve Bank of India’s (RBI) co-lending framework, designed to leverage the strengths of banks and NBFCs to boost priority sector lending.

Recent News :

• In March 2024, Star Housing Finance and Tata Capital Housing Finance entered into a co-lending arrangement to offer more affordable housing loans to economically weaker sections (EWS) and low-income groups (LIG), leveraging Tata Capital Housing’s financial strength and Star Housing’s extensive distribution network.

About SIDBI:

• Established: April 2, 1990
• Headquarters: Lucknow, Uttar Pradesh, India
• Chairman & MD: Manoj Mittal
• Role: Apex regulatory body for licensing and regulating micro, small, and medium enterprise finance companies in India.
• Jurisdiction: Under the Ministry of Finance, Government of India.

About UGRO Capital:

• Headquarters: Mumbai, Maharashtra, India
• Founder and Managing Director: Shachindra Nath
• Specialization: Data-driven co-lending is used to provide customized finance solutions to over 78,000 MSMEs in India.

Securities & Exchange Board of India Launches Artificial Intelligence Chatbot Service ‘Seva’ for Investors

• For investor protection, the Securities & Exchange Board of India (SEBI) has started its Virtual Assistant (SEVA) – an Artificial Intelligence (AI) based conversation platform for investors.
• The Beta version of the chatbot includes features like citations for generated responses, speech-to-text and text-to-speech functionality for accessibility and follow-up questions.

Key Highlights :

• Current Capabilities:The chatbot can answer questions related to general information on the securities market, the latest master circulars, and the grievance redressal process.
• It is available on SEBI’s investor website and the SAARTHI mobile app (both Android and iOS).
• Future Enhancements: Based on user feedback, additional areas will be added to the chatbot’s capabilities.
• Definition of a Chatbot: A chatbot is a computer program designed to simulate human conversation through text or voice interactions, acting as a virtual assistant that can understand and respond to questions, requests, or commands.

New India Assurance Raises Health Insurance Premiums by 10%

• New India Assurance, the country’s largest general insurer, has increased premiums on certain health insurance products by 10%.
• The increase will be effective from November 11, 2024.
• Reason for Increase: The adjustment is in response to rising loss ratios and new regulations from the Insurance Regulatory and Development Authority of India (IRDAI).
• The premium hike affects approximately 25% of New India Assurance’s health insurance portfolio.

Key Highlights :

• Regulatory Changes: The adjustment aligns with recent changes by IRDAI, including:
• Reduction in the waiting period for pre-existing diseases from 48 months to 36 months.
• Reduction in the moratorium period from 8 years to 5 years.
• Impact of IRDAI Regulations: The changes introduced by IRDAI expanded coverage, leading to higher anticipated claims and necessitating the premium adjustment.
• Market Position: New India Assurance accounts for approximately 18.8% of the industry’s health insurance portfolio.
• As of June 2024, its health insurance portfolio was valued at approximately ₹5,649.86 crore, representing about 53% of its total portfolio.

About New India Assurance :

• Founded : 23 July 1919
• Headquarters : Mumbai, Maharashtra, India
• It is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance.

One 97 Communications Unveils India’s First Paytm NFC Card Soundbox

• One 97 Communications (OCL), owner of the Paytm brand, has launched India’s first Paytm NFC Card Soundbox.

Key Highlights :

• Device Features:
• Combines NFC technology with mobile QR payments.
• Allows customers to tap a debit or credit card or scan a QR code to make payments.
• Equipped with a 10-day battery life, instant audio confirmation, and a display screen for transaction amounts.
• Soundbox Capabilities:
• Paytm had previously pioneered the Soundbox, which provides audio payment notifications.
• Supports audio payment notifications in 11 languages: English, Hindi, Gujarati, Bangla, Odia, Marathi, Punjabi, Telugu, Malayalam, Tamil, and Kannada.

What is NFC?

• NFC stands for Near Field Communication.
• It is a technology that allows for wireless data transfer between devices when they are very close to each other, usually within a few centimetres.
• It is often used for contactless payments and sharing information.

CURRENT AFFAIRS: NATIONAL NEWS

Kerala, Andhra Pradesh, and Bihar Seek Special Financial Packages from the Centre

• The states of Kerala, Andhra Pradesh, and Bihar have requested special financial packages from the Central Government, as detailed by Minister of State for Finance Pankaj Chaudhary in a written reply in the Rajya Sabha.
• These requests span various sectors, including infrastructure development, irrigation projects, and social welfare.

Key Highlights:

Kerala:

• Special Financial Package: Kerala has sought a ₹24,000 crore package from the Centre.
• Vizhinjam Port: The state also requested ₹5,000 crore in capital investment support for developing the Vizhinjam Port region.
• Viability Gap Funding (VGF): The Department of Economic Affairs (DEA) has approved a VGF grant of ₹817.80 crore for the Vizhinjam International Multipurpose Seaport Terminal Project.

Andhra Pradesh:

• Amravati Development: Andhra Pradesh has requested ₹15,000 crore for the development of its state capital, Amravati.
• Polavaram Irrigation Project: The state has also sought ₹17,144.06 crore for various sectors, including the Polavaram irrigation projects.
• Budget Support: The 2024-25 Budget includes provisions for ₹15,000 crore in financial support for Andhra Pradesh, with additional amounts to be arranged in future years.

Bihar:

• Infrastructure and Social Welfare: Bihar has requested approximately ₹785 crore for various projects, including infrastructure, social welfare, airports, health infrastructure, education, and sports.
• Water Resource and Rural Development: The state has also requested funds for water resource development and rural development.

Central Government Support:

• Financial Assistance: The Centre provides substantial resources to states through Finance Commission Recommended Grants, Central Sector Schemes, Centrally Sponsored Schemes, and Special Assistance (Grant) schemes for Capital Investment.
• Additional Borrowing Permission: States are also granted additional borrowing permissions as part of the Centre’s financial support framework.

IIT Mandi Establishes BioNEST-IIT Mandi Catalyst Centre for Biotechnology and Healthcare

• The Indian Institute of Technology (IIT) Mandi has announced the creation of the BioNEST-IIT Mandi Catalyst Centre, a Biotechnology Industry Research Assistance Council (BIRAC)-sponsored initiative aimed at fostering entrepreneurial ventures in the biotechnology and healthcare sectors.

Key Highlights:

• Initial Funding: The initiative is backed by an initial funding of Rs 5 crore, with the goal of addressing social, economic, and ecological challenges unique to India.
• Strategic Location: Leveraging the geographical advantages of IIT Mandi in the Himalayan region, the centre aims to utilize the area’s diverse biodiversity and traditional medicinal knowledge.
• Primary Objectives:
  • Focused Incubation: The BioNEST-IIT Mandi Catalyst Centre aims to create a focused incubation initiative that promotes innovation and entrepreneurship in biotechnology and healthcare.
  • Hub of Excellence: The centre aspires to become a hub of excellence, attracting national and international attention and partnerships.

Areas of Focus:

1. Healthcare Innovation:
   • Development of solutions for disease detection and affordable healthcare.
   • Innovation in medical devices, prosthetics, tissue engineering, and regenerative medicine.
2. Biotechnology:
   • Exploration of new avenues in medical science and drug discovery.
   • Biotechnology applications, bioactive compounds, supplements, and functional foods for health and wellness.

Infrastructure and Expertise:

• Advanced Research Facilities: The BioNEST-IIT Mandi Catalyst Centre will feature state-of-the-art infrastructure for advanced research and development.
• Multidisciplinary Innovation: Leveraging expertise from engineering, biological sciences, and healthcare, the centre aims to foster multidisciplinary innovation.

CURRENT AFFAIRS: BUSINESS NEWS

Indian Oil Corporation’s New Oil Jetty at Kamarajar Port

• Indian Oil Corporation Ltd (IOCL) is constructing an exclusive oil jetty at Kamarajar Port in Ennore, Tamil Nadu.
• The project, with an investment of ₹921 crore, is expected to be completed by December 2024.
• Currently, all oil companies, including IOCL, HPCL, BPCL, Reliance, Shell, and Nayara, use a common oil jetty.
• IOCL will move to its dedicated facility once the new jetty is operational.

Capacity and Impact:

• The jetty will handle 3 million tonnes of cargo annually, adding to the port’s capacity and supporting the distribution of petroleum, oils, and lubricants (POL), LPG products, and lube oil base stock in Tamil Nadu and neighbouring states.

Additional Infrastructure:

• The National Green Tribunal’s directive to close existing depots at Korukkupet and Tondiarpet necessitated the construction of an ₹829 crore POL pipeline. This pipeline will connect the new jetty to IOCL’s grassroot terminal at Vallur, around 20 km from the port, and further link to the Chennai Petroleum Corporation Ltd’s Manali Refinery.

Project History:

• Kamarajar Port Ltd (KPL) signed a concession agreement with IOCL in 2016 for the jetty’s construction, initially valued at ₹465 crore.

• Due to location issues, a revised agreement was signed in 2019, increasing the investment to ₹921 crore.

CURRENT AFFAIRS: AWARDS AND HONOURS

MRPL Wins Greentech Pollution Control Award for Circular Economy Leadership

• Mangalore Refinery and Petrochemicals Limited (MRPL) has been honoured with the Greentech Pollution Control Waste Management & Recycling Award in the Circular Economy Leadership category.
• This award recognizes MRPL’s excellence in managing hazardous and various types of waste through environmentally sustainable practices and emphasizes its commitment to circular economy principles.

Key Highlights:

• Award Recognition: MRPL was awarded the prestigious Greentech Pollution Control Waste Management & Recycling Award in the Circular Economy Leadership category.
• Achievements:
  • Environmental Management: The award highlights MRPL’s significant efforts in managing hazardous waste and implementing effective recycling and reuse processes.
  • Zero Waste to Landfills: The company achieved zero waste disposal to landfills during the fiscal year 2023-24, demonstrating its commitment to waste management and circular economy practices.
• Award Ceremony:
  • Date and Location: The award was presented on July 26, 2024, at the Radisson Blu Hotel in Guwahati.
  • Representative: Kanchan Deshwal, Assistant Engineer (HSE), accepted the award on behalf of MRPL.
  • Presenter: The award was presented by Dr. S. Laxman, Secretary of Industries, Commerce & Public Enterprises, Department of Mines & Minerals, Government of Assam.
• Event Attendees:
  • Anup Kumar Mishra, Chairman of the Assam Pollution Control Board
  • Adarsh Pal Vig, Chairman of the Punjab Pollution Control Board
  • Kamleshwar Charan, Chairman & CEO of the Greentech Foundation

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Former Union Health Secretary Preeti Sudan, to Assume Role as Union Public Service Commission Chairman

• Former Union Health Secretary Preeti Sudan will take charge as the Chairperson of the Union Public Service Commission (UPSC) on August 1, 2024, under Article 316 A of the Constitution.
• Sudan is currently a member of the Commission.
• She will take over from Manoj Soni who resigned a few days ago due to “personal reasons”.
• Her tenure will last until April 2025, when she turns 65.
• Soni resigned almost five years before his tenure ended in 2029.
• Soni joined the Commission as a Member in 2017, and was sworn-in as the Chairperson on May 16, 2023.
• His resignation was unrelated to the controversy involving fake certificates and a trainee IAS officer, Puja Khedkar.

About Preeti Sudan :

• Preeti Sudan is a 1983-batch IAS officer from the Andhra Pradesh cadre.
• She worked as the union health secretary for three years till July 2020.
• She served as the Union Health Secretary from 2017 to 2020 and has held various positions including Secretary of the Department of Food and Public Distribution, and roles in women and child development, defence ministry, finance, planning, disaster management, tourism, and agriculture.
• She has worked with the World Bank and held leadership roles in international health and development organisations, including Chair of COP-8 of the Framework Convention on Tobacco Control, and member of WHO’s Independent Panel for Pandemic Preparedness and Response.
• She has made several notable contributions to various national-level programs such as the initiation of Beti Bachao Beti Padhao and Ayushman Bharat, ban on E-cigarettes, and legislation on national medical commission, among others.

About UPSC :

• Founded : 1 October 1926
• Headquarters : New Delhi, Delhi, India
• The UPSC is a constitutional body as mandated under Article 315-323 Part XIV Chapter II of the Constitution of India.
• Functions: Conducts civil services examinations for IAS, Indian Foreign Service (IFS), Indian Police Service (IPS) and Central Services – Group A and Group B.
• Structure: Headed by a Chairperson and can have a maximum of 10 members.

Anish Dayal Singh was Assigned an Additional Role as Director General of the Central Industrial Security Force

• Anish Dayal Singh, the Director General (DG) of the Central Reserve Police Force (CRPF), has been assigned the additional charge of Director General of the Central Industrial Security Force (CISF) effective the day before the retirement of Nina Singh.

About Nina Singh :

• Anish Dayal Singh is a 1988 batch IPS officer of Manipur cadre.
• He had served as DG of Indo-Tibetan Border Police (ITBP).

Awards :

• He is a recipient of Indian Police Medal awarded by central government in 2004 for meritorious service.
• He had also received the President’s Police Medal for distinguished service in 2012.

About CISF :

• Established: March 10, 1969.
• Headquarters: New Delhi, India.
• Role: A Central Armed Police Force under the Ministry of Home Affairs.
• Primary Mission: To provide security to large institutions, both governmental and private.

Sanjay Shukla Takes Over as Managing Director of National Housing Bank 

• Sanjay Shukla has officially assumed the role of Managing Director (MD) of the National Housing Bank (NHB) as of July 30, 2024.

About Sanjay Shukla :

• He Began his career in 1991 as an officer at LIC Housing Finance Limited.
• Previous Positions:Founding Managing Director and CEO of Centrum Housing Finance Limited (CHFL) from October 2016.
• Managing Director and CEO of Cent Bank Home Finance Ltd (CBHFL), where he improved assets under management and asset quality.
• Business Head of Consumer Assets at ING Vysya Bank, expanding the consumer loan segment.
• First Business Head for Tata Capital’s retail housing finance business.
• Vice President and Area Director at Citibank, managing mortgage distribution in Tier-II and Tier-III cities.

About National Housing Bank :

• Founded: July 9, 1988, under the National Housing Bank Act, 1987.
• Headquarters: New Delhi, India.
• Role: Apex regulatory body for the regulation and licensing of housing finance companies in India.
• Jurisdiction: Operates under the Ministry of Finance, Government of India.

CURRENT AFFAIRS: MOUS AND AGREEMENT

RITES Signs MoU with NHAI for Consultancy Services in Infrastructure Projects

• RITES, a leading engineering consultancy firm, has signed a Memorandum of Understanding (MoU) with the National Highways Authority of India (NHAI), under the Ministry of Road Transport and Highways, Government of India.
• This collaboration is set to enhance the quality and safety of infrastructure projects across the country.

Key Highlights:

• Partnership Focus: The MoU between RITES and NHAI aims to provide consultancy services for NHAI projects, particularly in the domains of highways, bridges, tunnels, and road safety audits.
• Scope of Services:
  • External Technical Audits: RITES will conduct thorough technical audits to ensure the highest standards in project execution.
  • Infrastructure Health Monitoring: The firm will be responsible for monitoring the health of existing infrastructure, identifying potential issues, and suggesting corrective measures.
  • Quality Assurance: RITES will provide comprehensive quality assurance services to ensure that NHAI projects meet stringent quality standards.
  • Road Safety Audits: The collaboration will also focus on enhancing road safety through detailed safety audits of highway projects.

CURRENT AFFAIRS: SPORTS NEWS

National Basketball Academy in Collaboration with Corvuss American Academy

• The Basketball Federation of India (BFI) has partnered with Corvuss American Academy to set up the National Basketball Academy in Mumbai.
• The academy is located 95 km away from both Pune and Mumbai at Corvuss, India’s first international residential school for student-athletes.

1. Selection and Initial Enrollment:
   • The academy will start with 30 boys and 30 girls.
   • A nationwide talent hunt will be conducted to select the students.
2. Coaching and Curriculum:
   • Players will be trained under the guidance of a competent foreign coach.
   • Corvuss will provide a comprehensive academic program, nutritional support, sports counselling, training, and access to world-class facilities.
   • Players can represent their states in state and national championships.
3. Academic and Training Support:
   • Corvuss follows an American curriculum catering to students between grades 6 and
   • The academy will offer holistic academic and sports training on a 100% full scholarship basis.
4. BFI’s Role:
   • BFI will be responsible for scouting school students to join the academy.
   • Provide standardized coaching curriculum, supply foreign and Indian coaches, organize coaches clinics, certifications, and diet and nutrition best practices.
5. Vision and Goals:
   • The collaboration aims to promote basketball and provide a platform for young talent to flourish and compete at the highest levels.
   • The goal is to nurture grassroots talent and help them develop into future basketball stars for the country.
6. Leadership and Founding:
   • The academy is a significant step forward as stated by BFI President Aadhav Arjuna.
   • Kunal Maria, a former Indian national team basketball player, founded Corvuss.
7. Future Prospects:
   • Corvuss becomes the second National Basketball Academy of BFI, after Manipal University.
   • The first batch of basketball student-athletes is expected to start in the academic year beginning August 2024.

Tatjana Smith Wins Gold Medal in Women’s 100m Breaststroke at Paris Olympics

• South Africa’s Tatjana Smith clinched gold in the women’s 100m breaststroke at the Paris Olympics, making a stunning late surge to secure the victory.
• Smith, who previously won silver in the same event at the Tokyo Olympics, overtook China’s Tang Qianting in the final 10 meters, finishing with a time of 1:05.28 at La Defense Arena.

Key Highlights:

• Gold Medal Performance: Tatjana Smith touched the wall in 1:05.28, claiming the gold medal.
• Silver and Bronze: China’s Tang Qianting took the silver with a time of 1:05.54, while Ireland’s Mona McSharry earned the bronze in 1:05.59.
• Historic Win for Ireland: McSharry’s bronze marks Ireland’s first medal at the Paris Olympics and the country’s first swimming medal since the Atlanta 1996 Olympics.
• Smith’s Olympic Legacy: Smith adds the 100m breaststroke title to her 200m breaststroke gold from Tokyo 2020, where she competed under her maiden name, Schoenmaker.

David Popovici Claims Gold in Men’s 200m Freestyle at Paris Olympics

• Romania’s David Popovici secured the gold medal in the men’s 200m freestyle at the Paris Olympics, narrowly defeating Britain’s Matt Richards by just 0.02 seconds.
• In a thrilling race at La Defense Arena, Popovici, the 2022 world champion, finished with a time of 1:44.72.

Key Highlights:

• Gold Medal Victory: David Popovici won the gold with a time of 1:44.72, overtaking competitors in the final stretch.
• Close Finish: Britain’s Matt Richards claimed silver, finishing only 0.02 seconds behind Popovici.
• Bronze Medal: Luke Hobson of the United States took bronze, just 0.07 seconds behind the winner.
• Race Dynamics: Germany’s Lukas Maertens led early on but faded to fifth place. Popovici, initially third at the 100m mark, surged ahead in the final 50 meters.
• Notable Absences: Reigning Olympic champion Tom Dean did not qualify for the event, having finished third at the British trials. Duncan Scott, Tokyo 2021 silver medallist, finished fourth in this race.

Takanori Nagase Retains Olympic Judo Title, Andreja Leski Wins Slovenia’s First Gold in Paris

• Japan’s Takanori Nagase successfully defended his Olympic under 81kg judo title at the Paris Olympics, securing victory by ippon against Georgia’s three-time world champion, Tato Grigalashvili.
• Meanwhile, Slovenia’s Andreja Leski triumphed in the women’s under 63kg final, earning her country its first gold medal of the Games.

Key Highlights:

• Takanori Nagase’s Victory:
  • Title Defense: Nagase retained his under 81kg judo title, which he first won at the Tokyo Olympics in 2021.
  • Match Details: He was already ahead by a point when he achieved an ippon victory after 2 minutes and 48 seconds against Tato Grigalashvili.
  • Uncertain Form: Nagase’s journey to Paris was marked by uncertainty, with only eight competitions between his two Olympic titles and a single victory at the Antalya Grand Slam in March 2024.
• Andreja Leski’s Gold Medal:
  • Historic Win: Leski secured Slovenia’s first gold medal of the Paris Games in the women’s under 63kg judo final.
  • Match Outcome: She defeated Mexican Prisca Awiti Alcaraz by ippon to clinch the title.
  • Significance: Leski’s victory marked Slovenia’s second Olympic judo gold, following Urska Zolnir’s win in the same weight class at the London 2012 Olympics.

China’s Sun Yingsha and Wang Chuqin Win Mixed Doubles Table Tennis Gold at Paris Olympics

• China’s top-ranked table tennis duo, Sun Yingsha and Wang Chuqin claimed the gold medal in the mixed doubles event at the Paris Olympics.
• The pair secured a 4-2 victory over Democratic People’s Republic of Korea’s Ri Jong-sik and Kim Kum-yong in a thrilling final at South Paris Arena 4.

Key Highlights:

• Gold Medal Match:
  • Victory: Sun Yingsha and Wang Chuqin, the world number one pair, won the mixed doubles gold with a 4-2 scoreline.
  • Opponents: They faced Ri Jong-sik and Kim Kum-yong from the Democratic People’s Republic of Korea.
• Significance:
  • Redemption: This win marks a significant achievement for China, as mixed doubles was the only event in which they did not secure gold at the Tokyo 2020 Olympics.
• Bronze Medal Match:
  • Third Place: South Korea’s Lim Jong-hoon and Shin Yu-bin dominated their match against Hong Kong’s Wong Chun Ting and Doo Hoi Kem, winning 4-0 to take the bronze medal.

CURRENT AFFAIRS: IMPORTANT DAYS

World Wide Web Day 2024: August 1

• World Wide Web Day is celebrated globally on August 1st each year.
• The day is dedicated to web browsing and the online activities that bring global information to our fingertips.
• It highlights the wealth of knowledge accessible through the internet.

History:

• 1989: Sir Tim Berners-Lee invented the World Wide Web, a revolutionary internet-based communication system.
• 1991: The World Wide Web browser was made available on the public internet, marking its wider accessibility.
• 1993: Launch of the graphical browser Mosaic, which significantly enhanced user interaction with the web.
• 1994: Introduction of InternetWorks, which allowed users to open multiple tabs in a browser window.
• 1996: Integration of Internet Explorer into the Windows operating system, further popularizing web browsing.

Daily CA One-Liner: August 1^st, 2024

• The states of Kerala, Andhra Pradesh, and Bihar have requested special financial packages from the Central Government, as detailed by Minister of State for Finance Pankaj Chaudhary in a written reply in the Rajya Sabha.
• The Indian Institute of Technology (IIT) Mandi has announced the creation of the BioNEST-IIT Mandi Catalyst Centre, a Biotechnology Industry Research Assistance Council (BIRAC)-sponsored initiative aimed at fostering entrepreneurial ventures in the biotechnology and healthcare sectors
• Indian Oil Corporation Ltd (IOCL) is constructing an exclusive oil jetty at Kamarajar Port in Ennore, Tamil Nadu
• Mangalore Refinery and Petrochemicals Limited (MRPL) has been honoured with the Greentech Pollution Control Waste Management & Recycling Award in the Circular Economy Leadership category.
• RITES, a leading engineering consultancy firm, has signed a Memorandum of Understanding (MoU) with the National Highways Authority of India (NHAI), under the Ministry of Road Transport and Highways, Government of India
• The Basketball Federation of India (BFI) has partnered with Corvuss American Academy to set up the National Basketball Academy in Mumbai.
• South Africa’s Tatjana Smith clinched gold in the women’s 100m breaststroke at the Paris Olympics, making a stunning late surge to secure the victory.
• Romania’s David Popovici secured the gold medal in the men’s 200m freestyle at the Paris Olympics, narrowly defeating Britain’s Matt Richards by just 0.02 seconds
• Japan’s Takanori Nagase successfully defended his Olympic under 81kg judo title at the Paris Olympics, securing victory by ippon against Georgia’s three-time world champion, Tato Grigalashvili.
• China’s top-ranked table tennis duo, Sun Yingsha and Wang Chuqin claimed the gold medal in the mixed doubles event at the Paris Olympics.
• The Securities and Exchange Board of India (SEBI) has proposed a series of near-term measures to prevent speculative trading, such as gambling in index derivatives, which include curbing multiple option contract expiries and increasing the size of options contracts.
• Bank of Maharashtra (BoM) plans to raise up to ₹3,000 crore (approximately $358.27 million) through its first issue of infrastructure bonds.
• State Bank of India (SBI), the largest lender in the country, has raised $750 million through a Senior Unsecured Syndicated Term Loan Facility.
• The Small Industries Development Bank of India (SIDBI) has partnered with C2treds and UGRO Capital to facilitate loans to the Micro, Small and Medium Enterprises (MSME) sector.
• For investor protection, the Securities & Exchange Board of India (SEBI) has started its Virtual Assistant (SEVA) – an Artificial Intelligence (AI) based conversation platform for investors.
• New India Assurance, the country’s largest general insurer, has increased premiums on certain health insurance products by 10%.
• One 97 Communications (OCL), owner of the Paytm brand, has launched India’s first Paytm NFC Card Soundbox.
• Former Union Health Secretary Preeti Sudan will take charge as the Chairperson of the Union Public Service Commission (UPSC) on August 1, 2024 under Article 316 A of the Constitution.
• Anish Dayal Singh, the Director General (DG) of the Central Reserve Police Force (CRPF), has been assigned the additional charge of Director General of the Central Industrial Security Force (CISF) effective the day before the retirement of Nina Singh.
• Sanjay Shukla has officially assumed the role of Managing Director (MD) of the National Housing Bank (NHB) as of July 30, 2024.
• World Wide Web Day is celebrated globally on August 1st each year.