Daily Current Affairs July 16 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

State Bank of India Increases Benchmark Marginal Cost of Funds Based Lending Rate by 5-10 Basis Points

• State Bank of India (SBI) has increased its benchmark Marginal Cost of Funds Based Lending Rate (MCLR) by 5 to 10 basis points across most tenures.
• One basis point equals 0.01 percentage point.
• The revised MCLR rates are effective from July 15, 2024.

Key Highlights :

• New MCLR Rates:
• 1 Month MCLR: Increased by 5 basis points to 8.35%.
• 3 Month MCLR: Increased by 10 basis points to 8.40%.
• 6 Month MCLR: Increased by 10 basis points to 8.75%.
• 1 Year MCLR: Increased by 10 basis points to 8.85%.
• 2 Years MCLR: Increased by 10 basis points to 8.95%.
• 3 Year MCLR: Increased by 5 basis points to 9.00%.
• Impact on Loans:Interest rates on loans linked to MCLR are expected to rise by a similar amount as the MCLR hike.
• Previous Adjustments:This hike is the second consecutive increase in MCLR by SBI, following a 10 basis point hike in June, 2024.

About MCLR :

• MCLR was introduced on April 1, 2016, as a minimum interest rate below which banks cannot lend.
• It reflects the increase in banks’ cost of funds.
• Corporate loans are generally linked to MCLR, while retail loans are mostly linked to external benchmarks like the repo rate, which has not been altered by the RBI since February 2023.

Recent News :

• In July 2024, SBI raised ₹10,000 crore via a 15-year infrastructure bond issue at a coupon rate of 7.36%.

About SBI :

• Established : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Dinesh Kumar Khara

Securities and Exchange Board of India Designates BSE as Supervisory Authority for Research Analysts and Investment Advisers      

• The Capital markets regulator Securities and Exchange Board of India (SEBI) has recognized BSE Limited as a supervisory body for Research Analysts (RAs) and Investment Advisers (IAs) to oversee their management and administration.

Key Highlights :

• Regulatory Framework:This recognition is granted under Regulation 14 of the Research Analysts Regulations (RA Regulations) and Investment Advisers Regulations (IA Regulations).
• BSE will operate as the Research Analysts and Investment Advisers Supervision Body (RAASB) and Investment Advisers Supervision Body (IAASB).
• Duration of Recognition:The recognition is valid for a period of 5 years, starting from July 25, 2024.
• Responsibilities of BSE:BSE will establish bye-laws, standard operating procedures (SOPs), and frequently asked questions (FAQs) to support and guide RAs and IAs in adopting the RAASB and IAASB frameworks.
• These measures aim to ensure the management and administration of RAs and IAs are effectively overseen.
• Objective of the Move:The move is intended to protect investor interests in the securities market.
• It also aims to promote the development and regulate the securities market.

What is BSE SENSEX?

• The BSE SENSEX is a free-float market-weighted stock market index comprising 30 well-established and financially sound companies listed on the Bombay Stock Exchange.

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.

Bajaj Finserv Asset Management Company Unveils Savings+ Product for Retail Investors

• Bajaj Finserv Asset Management has introduced a new financial product named Finserv Savings+ for retail investors.
• Objective : To bridge the gap between traditional savings accounts and investment options offering higher returns.

Key Highlights :

• Investment Options: Savings+ allows investors to invest surplus cash from their savings accounts into:
• Bajaj Finserv AMC Liquid Fund
• Bajaj Finserv Overnight Fund
• Return and Liquidity:Liquid Fund: Delivered a 7.17% return between July 2023 and June 2024, outperforming average savings account interest rates. Offers T+1 day liquidity and instant redemption options up to Rs 50,000 or 90% of the invested value, whichever is lower.
• Overnight Fund: Invests in overnight securities, providing regular income aligned with overnight call rates.
• Partnership: Bajaj Finserv AMC has partnered with Perfios, a B2B SaaS Fintech company, for Account Aggregator services and personalized financial recommendations.
• Bajaj Finserv Liquid Fund:
• Type: Open-ended debt mutual fund.
• Investment: Primarily in money market and debt securities with maturities of up to 91 days.
• Suitability: For investors seeking regular short-term income.
• Bajaj Finserv Overnight Fund:
• Type: Open-ended debt scheme.
• Investment: In overnight securities with low interest rate and credit risk.
• Suitability: For investors seeking regular short-term income in line with overnight call rates.

CURRENT AFFAIRS: NATIONAL NEWS

Indian Council of Social Science Research Invites Proposals to Assess Socioeconomic Impact of Jal Jeevan Mission

• The Indian Council of Social Science Research (ICSSR) has called for study proposals to evaluate the socioeconomic impact of the central government’s Jal Jeevan Mission (JJM).
• The research aims to assess how effectively JJM is achieving its goal of providing tap water to all rural households, analyze implementation challenges, and explore the role of community involvement in the scheme’s success.

Research Focus Areas

1. Socioeconomic Impact Evaluation:
   • Goal: Assess how JJM has affected the lives of rural households in India.
   • Objective: Measure improvements in health, economic conditions, and quality of life due to the provision of tap water.
2. Challenges in Implementation:
   • Goal: Identify obstacles faced during the implementation of JJM.
   • Objective: Analyze issues such as infrastructure, maintenance, and resource allocation.
3. Community Involvement:
   • Goal: Examine the role of local communities in the success of JJM.
   • Objective: Focus on gender inclusivity, community participation, and strategies for sustainable management of water resources.
4. Strategies for Improvement:
   • Goal: Develop recommendations to enhance the effectiveness of JJM.
   • Objective: Propose solutions for overcoming identified challenges and ensuring the mission’s long-term success.

Background

• UN Sustainable Development Goal:
  • The research aligns with the United Nations’ SDG 6, which focuses on clean water and sanitation for all, a commitment adopted by India in 2015.
• Jal Jeevan Mission:
  • Objective: Provide safe and adequate drinking water to all rural households through tap connections by 2024.
  • Current Status: The mission is a significant part of the Indian government’s efforts to improve rural water supply infrastructure.

India and South Korea to Hold 11th Round of CEPA Talks in Seoul

• India and South Korea are set to hold the 11th round of talks for reviewing and upgrading their Comprehensive Economic Partnership Agreement (CEPA) from July 17-19, 2024, in Seoul.
• This round of negotiations will focus on enhancing bilateral economic cooperation and addressing trade imbalances.

Key Details of the CEPA Review

• Date and Location: July 17-19, 2024, in Seoul, South Korea.
• Purpose: To review and upgrade the CEPA, which was signed in 2009 and came into force in 2010.
• Historical Context:
  • Agreement Signed: 2009
  • Effective Date: 2010
  • Review Agreed: 2016

Background on the CEPA

• Scope of CEPA:
  • Trade in Goods: Reduction and phase-out of tariffs on selected goods.
  • Investments: Promotion and protection of bilateral investments.
  • Services: Facilitation of trade in services between the two countries.
  • Bilateral Cooperation: Collaboration in various sectors of mutual interest.
• Tariff Commitments:
  • South Korea: Phase out/reduce tariffs on 90% of Indian exports.
  • India: Phase out/eliminate tariffs on 85% of Korean exports.
• Trade Statistics:
  • 2011: Total Merchandise Trade: $16.91 billion
  • 2023-24: Total Merchandise Trade: $27.5 billion
  • India’s Exports: $5-7 billion (2011-2023)
  • India’s Imports: $12.4 billion (2011) to $21.1 billion (2023-24)

Current Focus of the Talks

1. South Korea’s Requests:
   • Sectors: Automobiles, textiles, chemicals, and petrochemicals.
   • Objective: Increase market access for Korean exports and achieve greater openness in the Indian market.
2. India’s Requests:
   • Sectors: Steel, rice, shrimp, and clothing.
   • Objective: Improve access for Indian exporters to South Korean markets and address existing trade barriers.

Challenges and Issues

• South Korean Concerns:
  • Trade Liberalisation: Korean officials seek to increase the level of openness in the Indian market, aiming to achieve conditions similar to those in the India-Japan Free Trade Agreement (FTA).
  • Exclusions: Key export sectors such as automobiles have not received concessions under CEPA.
• Indian Exporters’ Concerns:
  • Market Access: Complaints about the Korean industry’s reluctance to import competitive Indian products like steel.
  • Safety Standards: High safety standards in Korea making it difficult for Indian apparel and other products to meet export requirements.

Expected Outcomes of the Talks

• Trade Balance Improvement:
  • Objective: Address trade imbalances and enhance the effectiveness of the CEPA for both countries.
• Enhanced Market Access:
  • Goal: Achieve greater access for Indian exports to South Korea and vice versa.
• Bilateral Cooperation:
  • Focus: Strengthen collaboration in emerging sectors and ensure sustainable economic growth.

Recent Developments

• Pace of Talks: The pace of negotiations has accelerated in recent months, with hopes that a conclusive agreement might be reached in 2024.
• Future Outlook: The review process is seen as a crucial step towards deepening economic ties and achieving mutual benefits from the CEPA.

CURRENT AFFAIRS : INTERNATIONAL NEWS

UNESCO Chief Audrey Azoulay Calls on 194 Member States to Enhance Soil Protection as Degradation Threatens Up to 90% of Earth’s Soil by 2050

• United Nations Educational, Scientific and Cultural Organization (UNESCO) Director-General Audrey Azoulay urged its 194 Member States to improve soil protection and rehabilitation as the organisation warns that by 2050, up to 90% of the planet’s soil could be degraded.

Key Highlights :

• Current Status of Soil Degradation:According to UNESCO and the World Atlas of Desertification, 75% of soils are already degraded.
• This degradation directly impacts approximately 3.2 billion people worldwide.
• Future Projections:The trend indicates that soil degradation may escalate to affect 90% of the planet’s soil by 2050.
• UNESCO’s Support Initiatives:UNESCO plans to establish a “world soil health index” in collaboration with international partners.
• This index will standardize the assessment and comparison of soil quality across different regions and ecosystems.
• Pilot Initiatives:Additionally, UNESCO will launch a pilot initiative focused on sustainable soil and landscape management.
• This initiative will initially target around ten natural sites under UNESCO’s Biosphere Reserves programme.

Definition of Soil Degradation:

• Soil degradation is defined as a change in soil health status resulting in a diminished capacity of the ecosystem to provide goods and services for its beneficiaries.
• It involves biological, chemical, and physical decline in soil quality.

About UNESCO :

• Established : 16 November 1945
• Headquarters : Paris, France
• UNESCO is a specialised agency of the United Nations (UN) with the aim of promoting world peace and security through international cooperation in education, arts, sciences and culture.

CURRENT AFFAIRS : STATE NEWS

Thazhakara Becomes the First Grama Panchayat in Alappuzha and One of the First in Kerala to Publish a Comprehensive People’s Biodiversity Register

• Thazhakara has become the first grama panchayat in Alappuzha and one of the first in Kerala to update and publish a comprehensive People’s Biodiversity Register (PBR) with the involvement of local communities.
• The updated PBR includes details on biodiversity, resource identification, discoveries, traditional knowledge, ongoing changes, and climate change impacts.
• Thazhakara has submitted the 261-page PBR document to the Kerala State Biodiversity Board (KSBB).

Kerala’s PBR Initiative :

• Kerala was the first state to publish the first volume of the PBR across all local bodies.
• Updating Process: Other grama panchayats like Maruthonkara and Kadalundi in Kozhikode and Sreenarayanapuram in Thrissur have also updated their PBRs and submitted them to KSBB.
• Dynamic Document: PBRs are dynamic and require periodic updates on ecosystem details, species, landscapes, and traditional knowledge.
• KSBB’s Goal: KSBB aims to update PBRs in 50% of local bodies in Kerala by the end of 2024.

About People’s Biodiversity Register (PBR) :

• PBR serves as a comprehensive record of biodiversity, including habitat conservation, preservation of land races, domesticated stocks, breeds of animals, micro-organisms, and associated traditional knowledge.
• Legal Framework: The Biological Diversity Act (2002) mandates the development of PBRs at the local level to document and safeguard bioresources and traditional knowledge.
• Biodiversity Management Committees (BMCs): Established by local bodies under the Biological Diversity Act, BMCs are responsible for preparing PBRs in consultation with local communities.

About Kerala:

• Capital: Thiruvananthapuram
• Chief Minister: Pinarayi Vijayan
• Governor: Arif Mohammad Khan
• National Parks: Periyar National Park, Mathikettan National Park, Eravikulam National Park, Silent Valley National Park, Indira Gandhi National Park

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

K P Sharma Oli Assumes Nepal’s Prime Ministerial Role for a 3rd Term

• K P Sharma Oli,72 was appointed Nepal’s Prime Minister for the 3rd time to lead the new coalition government that faces the daunting challenge of providing political stability in the country.
• He succeeds Pushpa Kamal Dahal Prachanda, who lost a vote of confidence in the House of Representatives.
• The new government formation follows Article 76 (2) of the Nepalese Constitution.
• The coalition government is formed by the Communist Party of Nepal-Unified Marxist Leninist (CPN-UML) and the Nepali Congress (NC).
• President Ram Chandra Paudel appointed K P Sharma Oli as the new Prime Minister.
• K P Sharma Oli received backing from NC president Sher Bahadur Deuba and secured the support of 165 House of Representatives members (77 from his party and 88 from the NC).
• K P Sharma Oli previously served as Nepal’s Prime Minister from October 11, 2015, to August 3, 2016, and from February 5, 2018, to July 13, 2021.

About Nepal :

• Capital : Kathmandu
• Currency : Nepalese rupee

Lithuanian President Gitanas Nausėda Takes Oath for 2nd Five-Year Term

• Lithuanian President Gitanas Nausėda was sworn in for his second five-year term at a ceremonial event held at the Lithuanian Parliament, the Seimas.
• He took the presidential oath with his hand on the Constitution.

Election Details:

• Nausėda, a 60-year-old economist, was re-elected in May, 2024.
• He won against Šimonytė in the second round of presidential elections.

Policy Proposal :

• As part of his second term agenda, President Nausėda proposed increasing Lithuania’s defense budget to 4% of GDP.
• This proposed increase aims to fund initiatives such as long-range air defense, a missile shield for the Baltic Sea coast, and border fortifications.

About Lithuania :

• Prime Minister : Ingrida Šimonytė
• Capital : Vilnius
• Currency : Euro

SoftBank’s Sumer Juneja to Join Board of OYO’s Parent Company

• Sumer Juneja, Managing Partner and Head of EMEA & India Investing at SoftBank Vision Fund, is set to join the board of Oravel Stays Limited (OYO’s parent firm) as a non-executive director.
• The appointment is subject to shareholders’ approval at an Extraordinary General Meeting (EGM).
• Sumer will join Oravel Stays’ Board as a nominee director of Softbank.
• This appointment follows the departure of Munish Varma, the previous SoftBank nominee, who stepped down in September 2021.
• Board Members: The current board of OYO includes:
• Ritesh Agarwal (Founder)
• Bejul Somaia (Lightspeed Venture Partners)
• Aditya Ghosh (Former Indigo Executive & Co-Founder Akasa Air)
• Deepa Malik (Paralympian)
• Troy Alstead (Former COO of Starbucks)
• W Steve Albrecht (Former President of the American Accounting Association)

About Sumer Juneja :

• Sumer Juneja joined SoftBank in 2018.
• He previously worked at Norwest Venture Partners focusing on growth equity and venture investments in Indian companies.
• He was a founding member of Goldman Sachs’ Asian Special Situations Group in India.

CURRENT AFFAIRS: AWARDS AND HONOURS

Prince Harry Receives Pat Tillman Honour at ESPY Awards

• Prince Harry received the Pat Tillman Award for Service at the Excellence in Sports Performance Yearly Awards (ESPY) in Los Angeles.
• He was recognized for founding the Invictus Games, a Paralympic-style competition for wounded service members.

Background and Controversy

• Backlash: Mary Tillman, mother of war martyr Pat Tillman, expressed her shock at Prince Harry being named for the award.
• Prince Harry’s Response: Despite the backlash, Prince Harry thanked Pat Tillman’s widow, Marie, and acknowledged Mary Tillman’s efforts to preserve her son’s legacy.

Invictus Games

• Founding: Prince Harry founded the Invictus Games in 2014.
• Purpose: The Games aim to inspire recovery and support rehabilitation for wounded service members through the power of sports.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

NASA’s CHAPEA Mission Completes First Year-Long Mars Simulation with Crew Emerging from 3D-Printed Habitat

• National Aeronautics and Space Administration’s (NASA’s) ambitious Crew Health and Performance Exploration Analog (CHAPEA) mission concluded its first year-long Mars simulation, with four crew members emerging from their 1,700-square-foot 3D-printed habitat at Johnson Space Center in Houston.
• Primary goal of CHAPEA : To assess human health and performance under conditions that closely mimic those on Mars.

Habitat Details:

• Size and Construction: The crew lived in a 1,700-square-foot 3D-printed habitat called “Mars Dune Alpha.“
• Location: Situated at Johnson Space Center in Houston, Texas.
• Simulation Environment: Featured simulated Martian soil and a backdrop of red, rocky cliffs for an immersive experience.
• Crew Members:
• Kelly Haston: Team leader and research scientist.
• Anca Selariu: US Navy microbiologist.
• Ross Brockwell: Structural engineer.
• Nathan Jones: Emergency medicine physician.
• Activities and Experiments : During their time in the habitat, the crew engaged in activities such as crop growth, meal preparation, exercise, maintenance work, and scientific experiments.
• This groundbreaking experiment is part of Nasa’s broader strategy to prepare for human exploration of Mars, providing crucial data on the physical and psychological challenges astronauts may face during long-duration missions to the Red Planet.
• Future Missions : Two more CHAPEA missions are scheduled for 2025 and 2026.
• NASA aims to send astronauts to Mars by the 2030s.

About NASA :

• Established : July 29, 1958
• Headquarters : Washington, D.C, United States of America
• Administrator : Bill Nelson

CURRENT AFFAIRS : OBITUARIES

Veteran horse trainer S.K. Sunderji passed away

• Sheraz K. Sunderji, a renowned horse trainer, passed away at the age of 64.

About Sheraz K. Sunderji :

• Sunderji began his remarkable horse training career in 1985.
• Over nearly four decades, he saddled more than 1000 winners.
• One of his most cherished dreams was to win the prestigious Indian Derby, a goal which he achieved in 2018 with his ward Rochester.
• Notable for his success in the Pune Derby, securing victories with Desert Warrior (1989), Desert Carnival (1995), Ocean And Beyond (2010), and Trouvaille (2019).

CURRENT AFFAIRS: SPORTS NEWS

Spain Clinches Euro 2024 with Dramatic Win Over England

• Spain triumphed over England 2-1 in the Euro 2024 final, marking their re-emergence as a dominant force in international football.
• Substitute Mikel Oyarzabal scored the decisive goal in the 86th minute.
• Historical Achievement: Spain becomes the first country to win the men’s European Championships four times (1964, 2008, 2012, 2024).

Match Highlights

• Early Setback and Recovery: Despite losing influential midfielder Rodri to injury at half-time, Spain quickly regained momentum with Nico Williams scoring just two minutes into the second half.
• Nico Williams’ Goal: Set up by Lamine Yamal, Williams capitalized on a lapse in England’s defense to score in the 47th minute.
• England’s Equalizer: Substitute Cole Palmer scored a brilliant equalizer after being set up by Jude Bellingham.
• Winning Goal: Mikel Oyarzabal, another substitute, secured the victory for Spain with a goal in the 86th minute, crushing England’s hopes of ending their 58-year trophy drought.

Golden Boot Award

• Shared Award: Six players shared the Golden Boot award, each scoring three goals:
  • Harry Kane (England)
  • Dani Olmo (Spain)
  • Georges Mikautadze (Georgia)
  • Cody Gakpo (Netherlands)
  • Ivan Schranz (Slovakia)
  • Jamal Musiala (Germany)
• New Rule: Unlike previous tournaments where assists served as the tiebreaker, this year’s Golden Boot was decided solely on goals scored.

Argentina Clinches Record 16th Copa America Title

• Argentina secured their 16th Copa America title by defeating Colombia 1-0 in a dramatic extra-time win.
• Lautaro Martinez scored the decisive goal in the 112th minute.
• The final was delayed over an hour due to thousands of ticketless fans attempting to enter the stadium.

Argentina’s Triumph

• Back-to-Back Success: This victory follows Argentina’s triumphs at the 2022 World Cup and the 2021 Copa America.
• Lionel Messi’s Sendoff: The win provides a fitting farewell for Lionel Messi, an eight-time Ballon d’Or winner, likely marking his last international tournament.
• Historic Achievement: Argentina surpassed Uruguay, which previously shared the record with 15 Copa America titles.

Farewell Matches

• Angel di Maria: This match was Angel di Maria’s final appearance in international football.
• Nicolas Otamendi: Defender Nicolas Otamendi, 36, is also set to retire from international play.

Saudi Arabia to Host Inaugural Esports Olympics in 2025

• Saudi Arabia will host the first-ever Olympic Esports Games in 2025, marking a significant milestone in integrating esports with traditional Olympic sports.
• The International Olympic Committee (IOC) and the National Olympic Committee (NOC) of Saudi Arabia have entered into a 12-year partnership to host the Olympic Esports Games regularly.

Event Highlights

• IOC Announcement: The IOC announced the partnership with Saudi Arabia’s NOC, outlining plans to host the inaugural event in the Kingdom.
• IOC Session: The proposal will be presented at the IOC Session scheduled on the eve of the Olympic Games Paris 2024.

Ongoing Esports Events in Saudi Arabia

• Esports World Cup: Riyadh is already hosting the Esports World Cup in July and August 2024, featuring 2,500 gamers competing for $60 million in prize money.

Vasanti Shinde and Leonie Kung Win Doubles Title at $75,000 ITF Tournament in Rome

• Vasanti Shinde and Leonie Kung clinched the doubles title at the $75,000 ITF Women’s Tennis Tournament in Rome.
• The duo defeated Matilde Paoletti and Beatrice Ricci with a scoreline of 4-6, 6-4, [10-6] in the final.

Players’ Achievements

• Vasanti Shinde:
  • Maiden Title: This victory marks Vasanti Shinde’s first professional doubles title.
  • Age: 27 years old.
• Leonie Kung:
  • Career Title: This is Leonie Kung’s 11th career doubles title.
  • Age: 23 years old.

Tournament Details

• Event: $75,000 ITF Women’s Tennis Tournament
• Location: Rome, Italy
• Final Date: Recent date of the tournament final.

Carlos Alcaraz Claims Fourth Grand Slam Title, Defeats Novak Djokovic in Wimbledon Final

• Carlos Alcaraz of Spain secured his fourth Grand Slam title by defeating Novak Djokovic 6-2, 6-2, 7-6 (4) in the Wimbledon men’s final.
• At just 21 years old, Alcaraz showcased his dominance on the grass of the All England Club, repeating his victory over Djokovic from last year’s championship match.

Career Milestones

• Consistent Success: This win follows Alcaraz’s recent triumph at the French Open, marking his second consecutive major title.
• Historical Achievement: Alcaraz becomes the youngest player to win four Grand Slam titles, having clinched his first at the 2022 US Open as a teenager.

Novak Djokovic’s Performance

• Djokovic, aged 37, faced challenges with a surgically repaired right knee, affecting his performance in the final.
• Despite his storied career, Djokovic’s quest for an eighth Wimbledon title and record 25th major overall was halted by Alcaraz’s formidable play.

Daily CA One- Liner: July 16^th

• The Indian Council of Social Science Research (ICSSR) has called for study proposals to evaluate the socioeconomic impact of the central government’s Jal Jeevan Mission (JJM).
• India and South Korea are set to hold the 11th round of talks for reviewing and upgrading their Comprehensive Economic Partnership Agreement (CEPA) from July 17-19, 2024, in Seoul
• Prince Harry received the Pat Tillman Award for Service at the Excellence in Sports Performance Yearly Awards (ESPY) in Los Angeles.
• Spain triumphed over England 2-1 in the Euro 2024 final, marking their re-emergence as a dominant force in international football.
• Argentina secured their 16th Copa America title by defeating Colombia 1-0 in a dramatic extra-time win
• Saudi Arabia will host the first-ever Olympic Esports Games in 2025, marking a significant milestone in integrating esports with traditional Olympic sports
• Vasanti Shinde and Leonie Kung clinched the doubles title at the $75,000 ITF Women’s Tennis Tournament in Rome
• Carlos Alcaraz secured his fourth Grand Slam title by defeating Novak Djokovic 6-2, 6-2, 7-6 (4) in the Wimbledon men’s final.
• State Bank of India (SBI) has increased its benchmark Marginal Cost of Funds Based Lending Rate (MCLR) by 5 to 10 basis points across most tenures.
• Capital markets regulator Securities and Exchange Board of India (SEBI) has recognized BSE Limited as a supervisory body for Research Analysts (RAs) and Investment Advisers (IAs) to oversee their management and administration.
• Bajaj Finserv Asset Management has introduced a new financial product named Finserv Savings+ for retail investors.
• United Nations Educational, Scientific and Cultural Organization (UNESCO) Director-General Audrey Azoulay urged its 194 Member States to improve soil protection and rehabilitation as the organisation warns that by 2050, up to 90% of the planet’s soil could be degraded.
• Thazhakara has become the first grama panchayat in Alappuzha and one of the first in Kerala to update and publish a comprehensive People’s Biodiversity Register (PBR) with the involvement of local communities.
• K P Sharma Oli,72 was appointed Nepal’s Prime Minister for the 3rd time to lead the new coalition government that faces the daunting challenge of providing political stability in the country.
• Lithuanian President Gitanas Nausėda was sworn in for his second five-year term at a ceremonial event held at the Lithuanian Parliament, the Seimas.
• Sumer Juneja, Managing Partner and Head of EMEA & India Investing at SoftBank Vision Fund, is set to join the board of Oravel Stays Limited (OYO’s parent firm) as a non-executive director.
• National Aeronautics and Space Administration’s (NASA’s) ambitious Crew Health and Performance Exploration Analog (CHAPEA) mission concluded its first year-long Mars simulation, with four crew members emerging from their 1,700-square-foot 3D-printed habitat at Johnson Space Center in Houston.
• Sheraz K. Sunderji, a renowned horse trainer, passed away at the age of 64.