Daily Current Affairs August 17 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

RBL and Tamilnad Mercantile Bank Join Mid-Tier Banks in Competitive Race for New Fixed Deposit Schemes

• Several mid-tier banks, including RBL Bank, Bank of Maharashtra (BoM), Federal Bank, and Tamilnad Mercantile Bank (TMB), have introduced special fixed deposit (FD) schemes to increase deposit growth.

Special Fixed Deposit Schemes Offered by Mid-Tier Banks :

Bank Name	Scheme Name	Tenor	Interest Rate (Callable)	Interest Rate (Non-Callable)	Senior Citizen Rate
Federal Bank	Special Fixed Deposit (FD) Scheme	400 days	7.35%	7.50%	+0.50%
		777 days	7.40%	7.55%	+0.50%
		50 months	7.40%	7.55%	+0.50%
RBL Bank	Vijay Deposit Scheme	500 days	8.10%	N/A	8.60%
Bank of Maharashtra	Special FD Scheme	777 days	7.25%	N/A	N/A
Tamilnad Mercantile Bank	Special FD Scheme	400 days	7.50%	N/A	8.00%
Bandhan Bank	Special Scheme	21 months	8.00%	N/A	N/A
		>1 year 9 months to <5 years	>1 year 9 months to <5 years	N/A	N/A

Note: All interest rates mentioned are for a limited period only.

• Latest RBI data shows, banking system credit is growing at 13.7% year-on-year (Y-o-Y) while deposit accretion is growing at 10.6% Y-o-Y.

Reserve Bank of India Approves Tata Capital’s Transition to an NBFC Investment Credit Company

• The Reserve Bank of India (RBI) has approved Tata Capital Limited’s (TCL) conversion from a Non-Banking Finance Company (NBFC)–Core Investment Company (CIC) to an NBFC–Investment Credit Company (ICC).
• The conversion marks Tata Capital’s transition from a holding company under the CIC structure to an operating company, potentially paving the way for its future public listing.
• Tata Capital Limited has merged Tata Cleantech Capital and Tata Capital Financial Services (TCFS) with itself, consolidating its operations under the new NBFC–ICC structure.

Key Highlights :

• RBI’s Upper Layer Distinction : Regulatory Requirement: In the previous year, the RBI categorized Tata Capital and its parent company, Tata Sons Private, as NBFCs with an “Upper Layer” distinction.
• Public Listing Deadline: This categorization mandates that both Tata Capital and Tata Sons must go public by September 2025.
• Net Owned Fund (NOF) Requirements for NBFCs: General Requirement: RBI has specified a minimum Net Owned Fund (NOF) of ₹10 crores as required for certain categories of NBFCs to commence or continue business from October 1, 2022.
• Specific Requirement for NBFC-ICC:
• NBFC-ICCs with a current NOF of ₹2 crores must increase their NOF to ₹5 crores by March 31, 2025.
• They must further increase their NOF to ₹10 crores by March 31, 2027.

About Tata Capital Limited :

• Founded : 2007
• Headquarters : Mumbai, Maharashtra, India
• MD &CEO : Rajiv Sabharwal

RBI Imposes Fines on 5 Entities, Including CSB Bank, Union Bank, and Muthoot Housing Finance for Regulatory Breaches

• The Reserve Bank of India imposed penalties on 5 entities, including CSB Bank, Union Bank of India and Muthoot Housing Finance for contravention of various regulatory norms.

Muthoot Housing Finance Company Limited

• Penalty: ₹5,00,000
• Reason: Non-compliance with ‘Governance’ provisions of the ‘Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021’.
• Specific Issue: Failure to obtain RBI’s prior written permission for a change in management, leading to a change of more than 30% of its directors (excluding independent directors).
• Legal Basis: Section 52A of the National Housing Bank Act, 1987.
• Inspection: Conducted by the National Housing Bank with reference to the financial position as of March 31, 2022.

Union Bank of India

• Penalty: ₹1,06,40,000
• Reason: Non-compliance with RBI directions on ‘Creation of a Central Repository of Large Common Exposures-Across Banks’ and ‘Know Your Customer (KYC)’.
• Specific Issues:
• Failure to ensure data accuracy and integrity in CRILC reporting.
• Failure to carry out risk categorization of certain customers.
• Legal Basis: Section 47A(1)(c) read with sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.

CSB Bank Limited.

• Penalty: ₹1,86,80,000
• Reason: Contravention of section 10(1)(b)(ii) of the Banking Regulation Act, 1949, and non-compliance with RBI’s guidelines on outsourcing of financial services and branch authorization.
• Specific Issues:
• Payment of commission to employees for NPA recovery.
• Failure to inform the Indian Banks’ Association (IBA) about the termination of service providers.
• Payment of commission/fees to business correspondents without a variable component.
• Legal Basis: Section 47A(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949.

Other Institutions

• Nido Home Finance Limited: Penalty of ₹5 Lakh for non-compliance with norms.
• Ashoka Viniyoga Limited: Penalty of ₹3.1 Lakh for non-compliance with norms.

Axis Bank Teams Up with Visa to Launch ‘Primus’ – An Ultra-Premium Credit Card Redefining Luxury

• Axis Bank, one of the largest private sector banks in India, has partnered with Visa, the global leader in digital payments, to launch ‘Primus’ – an ultra-premium credit card designed to redefine luxury.
• The new super-premium card, Primus, will be offered by invitation only, to select, ultra-high net worth, Axis Bank customers.
• For the first time in India, customers will have access to globally acclaimed, bespoke privileges & benefits curated under the Visa Infinite Privilege offering.
• Axis Bank Teams Up with Visa to Launch ‘Primus’ – An Ultra-Premium Credit Card Redefining Luxury
• The Primus credit card is thus designed to appeal to India’s wealthy elite and their distinct tastes for style, exclusivity and access.

About Axis Bank :

• Established : 3 December 1993
• Headquarters : Mumbai, Maharashtra, India
• MD &CEO : Amitabh Chaudhry

Punjab National Bank Introduces Braille Debit Card for Visually Impaired Customers

• Punjab National Bank (PNB) has launched the PNB ANTAH DRISHTI Braille Debit Card, a new debit card specifically designed for visually impaired customers.
• This contactless NCMC (National Common Mobility Card) Debit Card is available on RuPay network.

Key Highlights :

• Eligibility : Visually impaired individuals with savings or current accounts in PNB are eligible to obtain this debit card from any of the nearest PNB branches
• Transaction Limits : .The ATM limit (cash withdrawal) per day is Rs 25,000, and the PoS and eCom limits (combined) per day are Rs 60,000.
• Contactless Transactions:Contactless transactions are accessible for individual transactions up to Rs. 5000/- without a PIN at NFC capable POS Terminals, with a daily overall limit of Rs. 5000.
• Braille System : Braille is a system of touch reading and writing for blind persons in which raised dots represent the letters of the alphabet.

About PNB :

• Established : 19 May 1894
• Headquarters : Delhi, India
• MD &CEO :Atul Kumar Goel

Jammu & Kashmir Bank Introduces “Kisan Ka Samman” Program to Recognize Financially Disciplined Farmers

• Jammu & Kashmir (J&K) Bank launched the “Kisan Ka Samman” program to honour financially disciplined farmers in Jammu & Kashmir.
• The program will run until September 30, 2024.
• Aim : To empower the farmers of Jammu & Kashmir who have shown exceptional financial discipline and promptness in their dealings with the Bank.

Key Highlights :

• Criteria for Recognition:Farmers who have consistently renewed their Kisan Credit Cards (KCCs) and demonstrated financial discipline will be honored.
• Recognition and Rewards:Eligible farmers will receive a ‘Certificate of Appreciation’ at various branches, clusters, and zonal levels.
• They will also be offered additional loan products under the bank’s “Kisan Dost” scheme to help upgrade their agricultural infrastructure.
• Awareness on PRI:The program aims to spread awareness about the Prompt Repayment Incentive (PRI) under KCC, which offers an interest subvention of 3% to eligible farmers.
• Encouragement for Other Farmers:The program is intended to encourage other farmers to take advantage of the interest subvention benefits provided by the government.

About J&K Bank :

• Founded : 1 October 1938
• Headquarters : Srinagar, Jammu and Kashmir, India
• MD &CEO : Baldev Prakash

CURRENT AFFAIRS: NATIONAL NEWS

India’s Ambition to Host the 2036 Summer Olympics

• Prime Minister Narendra Modi, in his Independence Day address, reiterated India’s ambition to host the 2036 Summer Olympics.
• Emphasizing the country’s readiness and capability to organise large-scale international events, PM Modi expressed confidence in India’s potential to bring the world’s largest sporting event to its soil.

Key Points:

• Demonstrated Capability: PM Modi highlighted India’s successful organisation of the G20 Summit, which showcased the country’s ability to handle events of significant magnitude.
• This experience has bolstered India’s confidence in pursuing the Olympic bid.
• Olympic Aspirations: Hosting the 2036 Olympics is a part of India’s vision to establish itself as a global sporting hub.
• The Prime Minister underscored this ambition as a “dream” for the nation, signaling strong governmental support for the bid.
• Youth Olympics Bid: In addition to the 2036 Summer Olympics, India is also considering a bid to host the Youth Olympics in 2030.
• This move aligns with the country’s broader strategy to promote sports and engage youth in athletics at an international level.

Union Government Launches AI-Based National Pest Surveillance System (NPSS) on Independence Day

• The Union Government unveiled the AI-based National Pest Surveillance System (NPSS), designed to assist farmers by connecting them with agricultural scientists and experts for effective pest management using their phones.

Key Points:

• Technological Integration in Agriculture:
  • The NPSS is part of the government’s initiative to integrate advanced technology in agriculture, aiming to make the latest innovations accessible to farmers.
  • Minister Chouhan emphasized that all agricultural developments should benefit farmers, with increasing crop yield being a priority under the Narendra Modi government.
• Scientific Approach to Pest Management:
  • NPSS aims to reduce farmers’ reliance on pesticide retailers and promote a scientific approach to pest control.
  • The system uses AI tools to analyze the latest data on pests, aiding farmers and experts in timely and effective pest management.
• Farmer-Scientist Connectivity:
  • The platform facilitates direct communication between farmers and scientists. Farmers can upload photos of infested crops or insects, which are then analyzed by experts for accurate diagnosis and treatment recommendations.
• Benefits of NPSS:
  • Early Detection: The system enables the early identification of pest attacks, allowing for timely intervention.
  • Accurate Pesticide Use: It helps farmers use the correct quantity of the right pesticide at the appropriate time, addressing the challenge of excessive pesticide use.
  • Soil Conservation: By promoting accurate pesticide application, NPSS contributes to soil health preservation.
  • Confidence and Productivity: The system is expected to boost farmers’ confidence and increase agricultural productivity.
• Government Support:
  • The NPSS does not require additional funding and is seen as a significant technological platform that will benefit around 14 crore farmers across the country.

Digital boost to revive solar power installation programme for farmers

• The ₹34,000-crore Pradhan Mantri-Kisan Urja Suraksha evamUtthaanMahabhiyan (PM-KUSUM) program, aimed at enhancing solar energy infrastructure in agriculture, is facing delays.
• States are exploring alternative strategies to improve adoption rates amid setbacks.

Program Goals:

• 100 GW of Solar Power Plants: Establish solar power plants on farmer-owned land.
• 14 Lakh Solar Pumps: Install solar-powered water pumps for irrigation.
• 35 Lakh Solarised Grid-Connected Pumps: Solarize existing grid-connected agricultural pumps.

Current Status (as of June 2024):

• Power Plants Installed: 256 MW
• Solar Pumps Installed:97 lakh
• Solarised Grid-Connected Pumps: 13,500

Prime Minister Narendra Modi to address mega community event in New York’s Long Island

• Prime Minister Narendra Modi will address the Indian-American community in Long Island, New York, on September 22, 2024.
• Venue: Nassau Coliseum, with a capacity of 16,000 seats.
• Significance: Marks a decade since Modi’s previous major address at Madison Square Garden in September 2014.
• Previous U.S. Event: Modi participated in the ‘Howdy Modi’ event at NRG Stadium, Houston, Texas, in 2019.
• UN General Assembly Session:
  • Date of Address: September 26, 2024.
  • General Debate: Runs from September 24-30, 2024.
  • Other Key Speakers:
    • Brazil: Opening address on September 24.
    • S. President Joe Biden: Final address before the U.S. presidential election.

Context and Preparations:

• Preparations for Long Island Event: In full swing, with significant community and media attention.
• S. Presidential Election: Scheduled for November 5, 2024, featuring Donald Trump and Democratic nominee Kamala Harris.
  • Kamala Harris: First woman of Black and Indian heritage to be a major party’s presidential nominee.

UN Summit and General Debate:

• UN Secretary-General Antonio Guterres: Will present his report before the debate.
• Summit of the Future: Hosted by Guterres on September 22-23, 2024, focusing on adopting the Pact for the Future, including a Global Digital Compact and a Declaration on Future Generations.
  • Purpose: To forge international consensus on improving global cooperation and addressing contemporary challenges.

Western Ghats ESA notification: Panel to finalise the draft soon for three states

• The Centre’s expert panel, led by Sanjay Kumar (former Director General of Forests), is considering the extent of Ecologically Sensitive Areas (ESAs) in the Western Ghats.
• Current Status: Discussions are advanced, and there may be separate notifications for Gujarat, Maharashtra, and Goa if an agreement is reached soon, rather than waiting for a consensus from all six states.

Key Points:

1. States Involved:
   • Immediate Focus: Gujarat, Maharashtra, and Goa.
   • Pending Information: Kerala, Karnataka, and Tamil Nadu.
2. Panel Deliberations:
   • Timeline: Detailed discussions are expected at the end of August.
   • Objective: To finalize the extent of ESAs in the Western Ghats.
3. Karnataka’s Position:
   • Opposition: The Karnataka government publicly opposes the Kasturirangan report, which proposes declaring 56,825 sq km as ESAs with bans or regulations on industries and development.
4. Recent Developments:
   • Draft Notification: The sixth draft issued on July 31, 2024, hints at the possibility of separate notifications for individual states.
   • Significance: The issue has gained importance following the recent landslides in Wayanad, which highlighted the need for effective protection of the Western Ghats.

PM-JAY Provides Over Rs 90,204 Crore in Free Hospitalisation Benefits to 68.62 Million Beneficiaries

• The Pradhan Mantri-Jan Arogya Yojana (PM-JAY) has provided free hospitalization benefits worth Rs 90,204 crore to beneficiaries since its launch.
• This scheme aims to offer financial protection against healthcare costs to the bottom 40% of India’s population.

Key Points:

• Beneficiaries and Coverage:
  • Over 68.62 million people have benefited from PM-JAY, which provides Rs 5,00,000 a year in free health coverage.
  • The scheme covers approximately 107 million poor households, targeting the bottom 40% of the population.
• Financial Impact:
  • PM-JAY has significantly reduced out-of-pocket healthcare expenditures, which previously pushed millions into poverty. Before its launch, about 62% of healthcare costs were paid out-of-pocket by individuals.
• Regional Beneficiaries:
  • The top beneficiary states include Tamil Nadu, Karnataka, Rajasthan, Kerala, Andhra Pradesh, and Gujarat.
• Available Procedures:
  • The scheme offers nearly 2,000 cashless treatment procedures, covering all related costs such as treatment, medicines, diagnostic services, physician’s fees, and room charges.
  • Top specialty treatments accessed include general medicine, infectious diseases, general surgery, medical oncology, ophthalmology, and orthopedics.
• Ayushman Cards and Hospitals:
  • Over 353.4 million Ayushman Cards have been issued to beneficiaries.
  • A total of 30,357 public and private hospitals are empanelled under the scheme.
• Expansion Recommendations:
  • The Parliamentary Standing Committee on Finance has suggested extending PM-JAY to cover the ‘missing middle’ (those not currently covered by any financial health protection) on a paid basis.
  • According to a Niti Aayog report, about 30% of the population (400 million individuals) lack financial health protection.

Union Agriculture Minister Launches ‘Kisan Ki Baat’ Radio Program to Modernize Farming Practices

• Union Agriculture Minister Shivraj Singh Chouhan announced the start of ‘Kisan Ki Baat,’ a monthly radio program set to begin in September.
• The program aims to deliver scientific knowledge to farmers, similar to Prime Minister Narendra Modi’s ‘Mann Ki Baat.’
• Objective:
  • The initiative is designed to modernize agricultural practices by providing farmers with the latest scientific information and best practices.
  • The program will feature contributions from agricultural scientists, department officials, and the minister himself.
• Focus Areas:
  • The program will address gaps in farmers’ knowledge, including the correct use of pesticides, which can be misused due to a lack of information.
  • It seeks to quickly transfer scientific knowledge to farmers to prevent issues related to pesticide misuse and other agricultural challenges.
• Program Details:
  • ‘Kisan Ki Baat’ will be broadcast monthly on the radio.
  • It will include expert insights from scientists and officials, offering practical advice and updates on scientific advancements in agriculture.
• Additional Initiatives:
  • The announcement was made alongside the launch of the National Pest Surveillance System (NPSS) and during a dialogue with farmers held on Independence Day.
  • The minister emphasized the need to connect Krishi Vigyan Kendras with farmers to deliver scientific benefits promptly.
• Event Attendees:
  • The launch event was attended by Ministers of State for Agriculture Ram Nath Thakur and Bhagirath Chaudhary, and ICAR Director General Himanshu Pathak.

CURRENT AFFAIRS : STATE NEWS

Odisha becomes the 3rd state to implement a one-day menstrual leave policy for women in both public and private sectors

• The Odisha government has introduced a one-day menstrual leave policy for working women in both the public and private sectors.
• The announcement was made by Deputy Chief Minister Pravati Parida during Independence Day celebrations on August 15, 2024, in Cuttack.
• The one-day menstrual leave policy will be effective immediately for women employees eligible to take leave from work on the first or second day of their menstrual cycle.
• Odisha is the 3rd state after Kerala and Bihar to bring in a menstrual leave policy for working women amid a nationwide demand for such a paid leave for students and working women.
• The policy addresses a long-standing demand for menstrual leave and comes amid ongoing discussions about menstrual leave at the national level.
• On July 8, 2024, the Supreme Court of India had directed the Centre to consider formulating a paid menstrual leave policy after consulting all stakeholders.

About Odisha :

• Governor : Raghubar Das
• Chief Minister :Mohan Charan Majhi
• Capital :Bhubaneswar
• National Parks :Bhitarkanika National Park, Simlipal National Park
• Wildlife Sanctuaries :Debrigarh Wildlife Sanctuary, Ushakothi Wildlife Sanctuary

Andhra Pradesh Sets Ambitious 15% GSDP Growth Target: Chief Minister N Chandrababu Naidu

• The Andhra Pradesh (AP) government aims to achieve a 15% annual growth rate in the State Gross Domestic Product (GSDP).
• This target is part of the broader effort to revive the state’s economy and restore “Brand Andhra Pradesh.”

Key Highlights :

• Departmental Reviews : White Papers Released: The Government has released seven white papers on key departments, including finance, power, and mining.
• These documents are part of a broader review to enhance transparency and accountability in governance.
• Skill Census : First-of-its-Kind Initiative: The Andhra Pradesh Government has initiated a skill census, a unique measure aimed at assessing and improving the skill levels of the workforce in the state.
• Polavaram Project :The Government has committed to advancing the Polavaram project, which had been stalled by the previous administration. This project is crucial for irrigation and water management in the state.
• Free Land Distribution: The Government has started supplying land free of cost to eligible beneficiaries as part of its development measures.
• Salaries and Pensions :The new NDA Government in Andhra Pradesh has started ensuring the disbursal of salaries and pensions on the first day of every month, enhancing financial stability for government employees and pensioners.

About AP :

• Governor :Syed Abdul Nazeer
• Chief Minister : Chandrababu Naidu
• Capital :Amaravati
• Wildlife Sanctuaries :Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Sri Venkateswara Wildlife Sanctuary

Karnataka Cabinet Approves Proposal to Rename Ramanagara District as Bengaluru South District

• The Karnataka Cabinet, led by Chief Minister Siddaramaiah, approved a proposal to rename Ramanagara district as Bengaluru South district.
• The renaming aims to boost industrial and real estate growth in the region.
• It is expected to attract developers and investors, potentially increasing property prices in the area.
• Ramanagara district has 5 taluks – Ramanagara, Channapatna, Magadi, Kanakapura and Harohal
• Ramanagara town, located 50 km from Bengaluru, will continue to serve as the district headquarters even after the renaming.

About Karnataka :

• Governor :Thawar Chand Gehlot
• Chief Minister :Siddaramaiah
• Capital :Bangalore
• National Parks :Bandipur National Park, Nagarhole National Park, Kudremukh National Park

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Deepak Sood appointed as Insurance Regulatory and Development Authority of India’s Whole-Time Member (Non-Life)

• Deepak Sood has been appointed as the Whole Time Member (Non-Life) of the Insurance Regulatory and Development Authority of India (IRDAI) by the Central Government.
• The position of Member (Non-Life) became vacant after Thomas Devasia retired on July 12, 2024.
• Sood currently serves as Independent Director at Prudent Corporate Advisory Services Limited and Non-Executive Director at Gimar Insurance Brokers.
• He will serve as the Whole Time Member until he attains the age of 62 years or until further orders from the date of assumption of charge, whichever is earlier.
• He has previously served as CEO of Avantha Ergo and Future Generali India Insurance, and has held leadership roles at Bajaj Allianz, Zurich Financial Services, and United India Insurance.

About IRDAI :

• Established : 1999
• Location : Hyderabad, Telangana
• Chairman : Debasish Panda
• The IRDAI is an autonomous and statutory body under the jurisdiction of the Ministry of Finance , Government of India.

CURRENT AFFAIRS : ENVIRONMENT

New Flowering Plant Species-CeropegiaShivarayina, Discovered at Vishalgarh Fort in Maharashtra’s Kolhapur District

• A new flowering plant species named CeropegiaShivarayina was discovered at Vishalgarh Fort in Kolhapur district, Maharashtra.
• The species belongs to the Ceropegia genus and the Apocynaceae family.
• It is part of the Kandil Pushpa class.
• The plant resembles Ceropegialawii but differs in its climbing habit, hairy peduncles, and obovate corolla cage with reflexed corolla lobes.
• The species is named in honour of Chhatrapati Shivaji Maharaj, the founder of the Maratha Empire.
• This marks the first time a plant species has been named after Shivaji Maharaj.
• The discovery was made by a team including Akshay Jangam, Ratan More, and Nilesh Pawar from New College, Kolhapur; Sharad Kamble from Nashik; and S. R. Yadav from Shivaji University, Kolhapur.

Background of the Discovery:

• Jangam and More have been studying the flora of Vishalgarh Fort for six years.
• In 2013, Jangam and More discovered a different plant of the Ceropegia class at the fort.
• The newly discovered plant was confirmed as a new species by S. R. Yadav, who has previously discovered six other Ceropegia species.

About Kandil Pushpa :

• Ceropegia species, known as Kandil Pushpa, are vine-like plants with lantern-like flowers and tubers, primarily found in the Western Ghats (Sahyadri).
• So far, 6 new species have been discovered within this class.

About Maharashtra :

• Chief Minister: Eknath Sambhaji Shinde
• Governor: C. P. Radhakrishnan
• Wildlife Sanctuaries: Tipeshwar Wildlife Sanctuary, Koyna Wildlife Sanctuary
• Tiger Reserves: Melghat Tiger Reserve, Sahyadri Tiger Reserve

CURRENT AFFAIRS: SPORTS NEWS

VVS Laxman to Continue Leading the National Cricket Academy: A Key Role in Indian Cricket’s Future

• VVS Laxman, the former Indian batting great, is set to extend his tenure as the head of the National Cricket Academy (NCA) in Bengaluru for at least another year, according to a report by ESPNcricinfo.
• His initial three-year contract, which began in December 2021, was due to end in September 2023.
• However, Laxman’s dedication to developing young talent and his commitment to the future of Indian cricket has led to this extension.

Key Details:

• Role at the NCA: Laxman’s leadership has been pivotal in maintaining the academy’s strong focus on nurturing the next generation of cricketers.
• Despite receiving offers from an Indian Premier League (IPL) franchise, Laxman chose to remain with the NCA, highlighting his commitment to Indian cricket’s development.
• Transition to New Facility: A significant aspect of Laxman’s extended tenure will involve overseeing the transition to the new state-of-the-art NCA facility in Bengaluru.
• The foundation stone for this complex was laid in February 2022 by former BCCI president Sourav Ganguly, secretary Jay Shah, and Laxman himself. This facility is expected to provide world-class training and rehabilitation facilities, marking a major investment in Indian cricket.

Kylian Mbappe Shines in Real Madrid Debut, Secures UEFA Super Cup Victory

• Kylian Mbappe made an impactful debut for Real Madrid, scoring a crucial goal to help his team win the UEFA Super Cup with a 2-0 victory over Atalanta in Warsaw.
• This victory marked a record sixth Super Cup win for Real Madrid.

Key Points:

• Mbappe’s Debut Performance: Kylian Mbappe scored his first goal for Real Madrid in the 68th minute, securing the win in his debut match for the club. This came after joining Madrid from Paris Saint-Germain this summer.
• Real Madrid’s Victory: Fede Valverde opened the scoring in the 59th minute, followed by Mbappe’s goal, which sealed the victory. The win allowed Madrid to claim their sixth UEFA Super Cup title.
• Ancelotti’s Milestone: With this victory, Real Madrid’s coach Carlo Ancelotti matched a club record by winning his 14th title as the team’s coach, tying with former coach Miguel Munoz.
• Match Highlights:
  • In the first half, Atalanta held firm, with Real Madrid gradually gaining the upper hand.
  • Valverde scored the first goal by tapping in from close range, capitalizing on the space created by Mbappe’s movement.
  • Mbappe then doubled the lead with a powerful finish after being set up by Bellingham.
  • Thibaut Courtois, Madrid’s goalkeeper, made a crucial save early in the second half to keep Atalanta at bay.

CURRENT AFFAIRS : OBITUARIES

Renowned Indian Missile Scientist & Key Figure in Agni Missile Development RN Agarwal Passes Away

• RN Agarwal, an acclaimed aerospace scientist and a key figure in India’s missile technology, passed away at the age of 84 in Hyderabad.

About Dr Ram Narain Agarwal :

• Agarwal was born in Jaipur, Rajasthan.
• He made significant contributions to the Agni missile program, launched in 1983, and served as its first program director.
• Known as the “Father of Agni Missiles,” he was instrumental in the development of India’s long-range Agni missile program.
• He was fondly known as “Agni Agarwal” and “AgniWall” by his peers.
• He led the first successful launch of the Agni missile on May 22, 1989, and was pivotal in developing various versions of the Intercontinental Ballistic Missile (ICBM).
• Agni V, developed under his guidance, has a range of over 5,000 km, placing India among the top nations in missile technology.
• He joined the Defence Research and Development Laboratory (DRDL) in Hyderabad in the early 1960s.
• Agarwal drove the Agni mission as its program director from 1983 until 2005, when he retired as the Director of the Advanced Systems Laboratory (ASL) in Hyderabad.

Awards and Recognition:

• Agarwal was awarded the Padma Shri in 1990 and the Padma Bhushan in 2000 for his contributions to missile technology.
• He received the Lifetime Achievement Award in 2004 for his work in aerospace and the Agni program, as well as the DRDO Technology Leadership Award and Chandrasekhara Saraswati National Eminence Award.

IGMDP and India’s Missile Development:

• The Agni missile was developed under the Integrated Guided Missile Development Programme (IGMDP), which was led by APJ Abdul Kalam.
• IGMDP also developed four other missiles: Prithvi, Akash, Nag, and Trishul.

Renowned Award-Winning U.S. Actor Gena Rowlands Passes Away

• Actor Gena Rowlands, who was in the entertainment industry for over six decades, died at the age of 94.

About Gena Rowlands :

• Gena Rowlands, born Virginia Cathryn Rowlands on June 19, 1930, in Madison, Wisconsin, was a prominent American actress with a career spanning over six decades.
• She began her career on Broadway, starring in plays such as “Middle of the Night” and “The Seven Year Itch.”
• In the 1950s, she transitioned to television, appearing in series like “Top Secret,” “Robert Montgomery Presents,” and “Appointment With Adventure.”
• She made her film debut in “The High Cost of Loving” (1958) and continued to work extensively in television, including roles in “87th Precinct,” “The Alfred Hitchcock Hour,” and the prime-time soap “Peyton Place.”
• Rowlands had a significant working relationship with director John Cassavetes, with whom she made 10 films over 20 years.
• Notable films include “A Woman Under the Influence” (1974) and “Gloria” (1980), both of which earned her Best Actress Oscar nominations.
• She appeared in popular films such as “The Notebook” (2004), directed by her son Nick Cassavetes, and “The Skeleton Key” (2005).
• She also had guest roles on TV shows like “Monk” and “NCIS.”

Awards and Honors :

• Rowlands won the Golden Globe for Best Actress for “A Woman Under the Influence.”
• In 1987, she won an Emmy and a Golden Globe for her performance as Betty Ford in “The Betty Ford Story.”
• She also won Emmys for “Face of a Stranger” (1991) and “Hysterical Blindness” (2003), and a Daytime Emmy for “The Incredible Mrs. Ritchie” (2004).
• Throughout her career, Rowlands received numerous accolades, including three Primetime Emmy Awards, one Daytime Emmy, and two Golden Globes.
• In 2015, She received an Honorary Academy Award at the Governors Awards.

Veteran Gandhian & Padma Bhushan Awardee Shobhana Ranade Passed Away

• Veteran Gandhian and social worker Shobhana Ranade passed away in Pune, Maharashtra at the age of 99.

About Shobhana Ranade :

• Ranade was born on 26 October 1924,in Pune,
• Roles and Contributions:
• Served as:
  • Secretary of the Gandhi National Memorial Society (GNMS), Pune.
  • Chairperson of the All India Committee for Eradication of Illiteracy among Women (AICEIW).
  • President of the All India Women’s Conference (AIWC).
• In 1955, joined a padyatra (walkathon) with Vinoba Bhave in North Lakhimpur, Assam, contributing to the establishment of Maitreyee Ashram and Shishu Niketan, the region’s first child welfare centre.
• She was involved in the Save Ganga Movement through the Gandhi National Memorial Society, aimed at preventing River Ganges’ pollution.

Awards &Honors :

• The Government of India (GoI) honoured her in 2011, with the Padma Bhushan-the third highest civilian award for her services to the society.

Daily CA One- Liner: August 17

• Prime Minister Narendra Modi, in his Independence Day address, reiterated India’s ambition to host the 2036 Summer Olympics
• The Union Government unveiled the AI-based National Pest Surveillance System (NPSS), designed to assist farmers by connecting them with agricultural scientists and experts for effective pest management using their phones
• The ₹34,000-crore Pradhan Mantri-Kisan Urja Suraksha evamUtthaanMahabhiyan (PM-KUSUM) program, aimed at enhancing solar energy infrastructure in agriculture, is facing delays.
• Prime Minister Narendra Modi will address the Indian-American community in Long Island, New York, on September 22, 2024.
• The Centre’s expert panel, led by Sanjay Kumar (former Director General of Forests), is considering the extent of Ecologically Sensitive Areas (ESAs) in the Western Ghats.
• The Pradhan Mantri-Jan Arogya Yojana (PM-JAY) has provided free hospitalization benefits worth Rs 90,204 crore to beneficiaries since its launch.
• Union Agriculture Minister Shivraj Singh Chouhan announced the start of ‘Kisan Ki Baat,’ a monthly radio program set to begin in September
• VVS Laxman, the former Indian batting great, is set to extend his tenure as the head of the National Cricket Academy (NCA) in Bengaluru for at least another year, according to a report by ESPNcricinfo
• Kylian Mbappe made an impactful debut for Real Madrid, scoring a crucial goal to help his team win the UEFA Super Cup with a 2-0 victory over Atalanta in Warsaw
• Several mid-tier banks, including RBL Bank, Bank of Maharashtra (BoM), Federal Bank, and Tamilnad Mercantile Bank (TMB), have introduced special fixed deposit (FD) schemes to increase deposit growth.
• The Reserve Bank of India (RBI) has approved Tata Capital Limited’s (TCL) conversion from a Non-Banking Finance Company (NBFC)–Core Investment Company (CIC) to an NBFC–Investment Credit Company (ICC).
• The Reserve Bank of India imposed penalties on 5 entities, including CSB Bank, Union Bank of India and Muthoot Housing Finance for contravention of various regulatory norms.
• Axis Bank, one of the largest private sector banks in India, has partnered with Visa, the global leader in digital payments, to launch ‘Primus’ – an ultra-premium credit card designed to redefine luxury.
• Punjab National Bank (PNB) has launched the PNB ANTAH DRISHTI Braille Debit Card, a new debit card specifically designed for visually impaired customers.
• Jammu & Kashmir (J&K) Bank launched the “Kisan Ka Samman” program to honour financially disciplined farmers in Jammu & Kashmir.
• The Odisha government has introduced a one-day menstrual leave policy for working women in both the public and private sectors.
• The Andhra Pradesh (AP) government aims to achieve a 15% annual growth rate in the State Gross Domestic Product (GSDP).
• The Karnataka Cabinet, led by Chief Minister Siddaramaiah, approved a proposal to rename Ramanagara district as Bengaluru South district.
• A new flowering plant species named CeropegiaShivarayina was discovered at Vishalgarh Fort in Kolhapur district, Maharashtra.
• RN Agarwal, an acclaimed aerospace scientist and a key figure in India’s missile technology, passed away at the age of 84 in Hyderabad.
• Actor Gena Rowlands, who was in the entertainment industry for over six decades, died at the age of 94.
• Veteran Gandhian and social worker Shobhana Ranade passed away in Pune, Maharashtra at the age of 99.
• Deepak Sood has been appointed as the Whole Time Member (Non-Life) of the Insurance Regulatory and Development Authority of India (IRDAI) by the Central Government.