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

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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India Fines BNP Paribas and Three Other Banks for Compliance Failures  

• The Reserve Bank of India has imposed a penalty of Rs 31.8 lakh on BNP Paribas for non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’.
• This penalty has been imposed in the exercise of powers conferred on RBI under the provisions of Section 47 A (1) (c) read with Sections 46 (4) (i) of the Banking Regulation Act, 1949.

Other Penalties :

Penalty on Hewlett Packard Financial Services (India) Private Limited:

• Amount: ₹10.4 lakh
• Reason: Non-compliance with RBI’s ‘Know Your Customer (KYC) Directions, 2016,’ ‘Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016,’ and ‘Master Direction – Information Technology Framework for the NBFC Sector.’
• Legal Basis: Clause (b) of sub-section (1) of Section 58 G and clause (aa) of sub-section (5) of Section 58 B of the Reserve Bank of India Act, 1934.

Penalty on Muthoot Vehicle & Asset Finance Limited:

• Amount: ₹7.9 lakh
• Reason: Non-compliance with RBI’s ‘Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies’ and ‘Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016.’
• Legal Basis: Clause (b) of sub-section (1) of Section 58 G and clause (aa) of sub-section (5) of Section 58 B of the Reserve Bank of India Act, 1934, and clause (iii) of sub-section (1) of Section 25 read with sub-section (4) of Section 23 of the Credit Information Companies (Regulation) Act, 2005.

Penalty on SMFG India Credit Company Limited (formerly Fullerton India Credit Company Limited):

• Amount: ₹23.1 lakh
• Reason: Non-compliance with ‘Master Direction – Information Technology Framework for the NBFC Sector’ and directions relating to cyber security measures.
• Legal Basis: Clause (b) of sub-section (1) of Section 58 G and clause (aa) of sub-section (5) of Section 58 B of the Reserve Bank of India Act, 1934.

Reserve Bank of India to Overhaul Currency Management Infrastructure to Meet Future Cash Demands

• The Reserve Bank of India (RBI) plans to comprehensively revamp its currency management infrastructure over the next 4-5 years to meet future cash demands of the growing economy.

Key Highlights :

Modernisation Plan:

• Creation of greenfield currency management centres.
• Introduction of warehouse automation, security and surveillance systems.
• Implementation of an inventory management system and centralised command centre.
• Project Timeline: The entire project is expected to be completed within 4-5 years, as per RBI’s expression of interest (EoI) document.
• NIC Growth:Despite moderation in Notes in Circulation (NIC) growth in the last 3 years, the RBI expects positive growth in NIC over the next decade.
• NIC volume reached 146.87 billion pieces (bpcs) by March 31, 2024, up from 136.21 bpcs in March 2023.
• CIC Growth:Coins in Circulation (CIC) volume also increased to 35 bpcs by March 31, 2024, from 127.92 bpcs a year earlier.
• Soiled Notes: The volume of soiled notes is expected to increase proportionally, necessitating modernisation of the infrastructure to maintain currency quality.
• Current Infrastructure:Banknotes are printed at 4 printing presses, and coins are minted at 4 mints.
• New currency is distributed via 19 Issue Offices (IOs) to around 2,800 Currency Chests (CCs) operated by scheduled banks.
• Global Comparisons: Central banks in Austria, Egypt, France, Germany, and other countries have modernised their currency management due to rising banknote volumes, costs, and security risks.
• Clean Note Policy: The revamp aligns with the RBI’s Clean Note Policy to improve note circulation quality, safety, and environmental sustainability.
• Security and Efficiency: The RBI aims to enhance the security of currency management operations while making the process more efficient and environmentally friendly.

National Payments Corporation of India Raises Unified Payments Interface Transaction Limit for Tax Payments to ₹5 Lakh per Transaction

• The National Payments Corporation of India (NPCI) has increased transaction limits for tax payments using the Unified Payments Interface (UPI), allowing people to transfer Rs 5 lakh in a single transaction.
• This service is only applicable for tax payments only.
• The increase in the transaction limit aims to facilitate smoother and larger tax payments through UPI, addressing the growing use of UPI as a payment method.
• This change follows the Reserve Bank of India’s recommendation during the Monetary Policy Committee meeting on August 8, 2024.

Key Highlights :

• Applicability: The Rs 5 lakh limit applies exclusively to tax payments.
• For other categories of payments, the UPI transaction limit remains Rs 1 lakh.
• Circular from NPCI: NPCI’s circular specifies that acquiring entities must classify merchants under MCC-9311 for tax payments only.
• Merchants are required to enable UPI as a payment mode for this increased limit.
• Transparency Measures: NPCI has directed banks, payment service providers (PSPs), and UPI applications to ensure that the Rs 5 lakh limit is strictly applied to tax payments to maintain transparency.
• Other Categories: Prior to this change, UPI users could make payments up to Rs 5 lakh per transaction in categories such as hospital and educational services, IPOs, and government securities.
• Previous Enhancements: Two previous circulars issued in December 2021 and December 2023 had introduced other enhancements related to UPI transaction limits.

What is UPI Circle?

• The National Payments Corporation of India (NPCI) introduced the UPI Circle feature in Aug 2024.
• The feature allows users to delegate payment responsibilities to secondary users securely.
• With this feature, a primary user can establish a UPI transaction limit for a secondary user and allow them to access the primary user’s bank account.
• The introduction of UPI Circle was officially announced by the Reserve Bank of India (RBI) during its August 2024 Monetary Policy Committee (MPC) meeting.
• The UPI Circle feature is being tested by various NPCI-operated Payment apps such as Amazon Pay, Google Pay, and Bharat Interface for Money (BHIM).
• Additionally, PhonePe, the leading third-party application on the UPI platform, is also testing this new product.

PhonePe and Liquid Group Partner to Expand UPI QR Payment Services in Singapore

• PhonePe, a Walmart group fintech firm, partnered with Liquid Group, a cross-border payment solutions provider, to expand its merchant acceptance network in Singapore.
• The partnership enables PhonePe users traveling to Singapore to scan and pay using the app at Liquid Group’s merchants.
• QR codes will be available at tourist-centric locations, such as Changi Airport, duty-free shops, restaurants, bars, retailers (e.g., The Cocoa Trees, Hard Rock Cafe), sightseeing spots, and transportation services.
• The collaboration is enabled by Liquid Group’s partnership with NPCI International Payments Limited (NIPL), an arm of NPCI focused on global payments.
• Liquid Group has enabled its merchants to accept UPI (Unified Payments Interface) as a payment method, allowing Indian travelers to use their UPI apps for payments.
• Transactions will be processed in Indian Rupees (INR), ensuring transparency and ease of use for Indian users.

About Phonepe :

• Founded : 2015
• Headquarters : Bangalore, Karnataka
• CEO : Sameer Nigam

CURRENT AFFAIRS: NATIONAL NEWS

Union Cabinet Approves Rs 10,900 Crore for PM E-DRIVE Scheme to Boost Electric Mobility

• In a boost to green mobility, the Cabinet approved a Rs 10,900-crore incentive for promotion of electric mobility, including 25 lakh two-wheelers, and another Rs 3,435 crore for uninterrupted operation of more than 38,000 electric buses across cities and towns.

Key Approvals:

1. PM E-DRIVE Scheme:
   • Outlay: ₹10,900 crore
   • Duration: 2 years (replacing the FAME scheme)
   • Objective: Promote electric mobility by incentivizing electric vehicles (EVs), including two-wheelers, three-wheelers, e-buses, e-ambulances, and e-trucks.
2. Subsidies & Incentives:
   • ₹3,679 crore allocated for electric two- and three-wheelers, e-ambulances, and emerging EVs.
   • Subsidies will support 24.8 lakh electric two-wheelers, 3.16 lakh electric three-wheelers, and 14,028 e-buses.
3. E-Buses & E-Ambulances:
   • ₹500 crore dedicated for the procurement of e-ambulances.
   • ₹4,391 crore for the procurement and operation of 14,028 e-buses in major cities like Delhi, Mumbai, Kolkata, and others.

Infrastructure Development:

• Charging Infrastructure:
  • ₹2,000 crore allocated to build a robust charging network.
  • Installation of 22,100 fast chargers for electric 4-wheelers.
  • 1,800 fast chargers for e-buses and 48,400 fast chargers for electric two and three-wheelers.

PM-eBus Sewa-Payment Security Mechanism:

• This scheme supports public transport agencies in procuring and operating e-buses.
• The operation of e-buses will be supported for up to 12 years post-deployment.
• Funding timeline: Until 2028-29.

Spices Board launch ‘CardsApp’ to boost cardamom production

• The Spices Board India has introduced a new mobile application called ‘CardsApp’, aimed at enhancing cardamom production.
• The launch took place during the Spices Conclave and Buyer-Seller Meet held at the Indian Cardamom Research Institute in Myladumpara, Idukki.
• The event was inaugurated by G. Jagadeesha, Secretary of the Spices Board.

Objective:

• The Spices Board aims to empower farmers by leveraging technological advancements like ‘CardsApp’ to boost productivity and promote sustainable growth in India’s cardamom production industry.

Key Highlights:

• CardsApp Launch:
  • The app provides vital soil test results, including a Soil Fertility Map, based on samples from 19 villages in Udumbanchola and Idukki.
  • It is designed to offer data-driven insights to farmers to improve cardamom productivity.
• Other Initiatives:
  • Launch of the Spices Incubation Centre at Tamil Nadu Agricultural University, Coimbatore.
  • Inauguration of the Kisan Seva Kendra, a farmer facilitation centre to support spice farmers.
• Expert Sessions:
  • T. Radhakrishnan, a soil expert from Kerala University of Digital Sciences, demonstrated how to use CardsApp effectively.
  • M. Murugan, Professor at Kerala Agricultural University, discussed the impact of climate change on cardamom production.
• Participants:
  • Over 300 attendees, including representatives from agricultural cooperatives, farmers’ organizations, cardamom producers’ federations, and the export trade sector.

India’s New Criminal Laws to be Implemented Nationwide in Two Years

• The three new criminal laws will be implemented across the country in two years, said a top government official, listing the achievements of 100 days of the NDA government.

1. New Criminal Laws:
   • Bharatiya Nyaya Sanhita: Replaces the Indian Penal Code (IPC) of 1860.
   • Bharatiya Nagarik Suraksha Sanhita: Replaces the Code of Criminal Procedure (CrPC) of 1973.
   • Bharatiya Saksha Sanhita: Replaces the Indian Evidence Act of 1872.
2. Implementation Timeline:
   • These laws will be implemented across India over the next two years.
   • Once FIRs (First Information Reports) are registered under these new laws, the justice system is expected to become more efficient.
3. Objective:
   • The primary aim of these new laws is to modernize India’s criminal justice system by addressing gaps in the older legal framework, which dates back to colonial times.

Prime Minister Narendra Modi Launches Six Vande Bharat Express Trains

• Prime Minister Narendra Modi inaugurated six Vande Bharat Express trains via video conference from Ranchi.
• Bihar received four of these trains, enhancing connectivity within the state and beyond.

Key Highlights:

1. Train Routes:
   • Tatanagar-Patna: Covers 451 km in 7 hours and 15 minutes, excluding Mondays. Stops at Chandil, Muri, Bokaro Steel City, Gomoh, Parasnath, Koderma, and Gaya.
   • Gaya-Howrah: Semi-high-speed service with stops at Koderma, Dhanbad, Asansol, and Durgapur.
   • Varanasi-Deoghar: Connects important pilgrimage sites.
   • Bhagalpur-Howrah: Provides Bhagalpur with its first direct link to Howrah, enhancing connectivity under the Malda division of Eastern Railway.
2. Inaugural Runs:
   • Special inaugural runs were conducted for Varanasi-Deoghar and Bhagalpur-Howrah routes, marking their launch from respective cities.
3. Dignitaries Present:
   • CM Nitish Kumar and Deputy CM Samrat Choudhary attended virtually from Patna.
   • Union Minister Ravi Shankar Prasad, Deputy CM Vijay Kumar Sinha, and others attended at Patna Junction.
   • Union Minister Jitan Ram Manjhi, Gaya MLA Prem Kumar, and Aurangabad MP Abhay Kushwaha were present at Gaya Junction.
   • Minister of State for Railways Ravneet Singh Bittu flagged off the Bhagalpur-Howrah Vande Bharat Express.
4. Significance:
   • These initiatives aim to boost economic growth by expanding rail connectivity in Bihar and other states.
5. Operational Details:
   • Regular operations commence soon with specific schedules ensuring frequent service on most days, except specified non-operational days.

Launch of Bharat Startup Knowledge Access Registry (BHASKAR): Commerce and Industry Minister Piyush Goyal

• Commerce and Industry Minister Piyush Goyal launched the Bharat Startup Knowledge Access Registry (BHASKAR) in New Delhi.
• This interactive online platform aims to centralize and enhance collaboration among key stakeholders in the entrepreneurial ecosystem.

Key Highlights:

1. Purpose of BHASKAR:
   • Serve as a central hub for startups, investors, service providers, and government bodies to collaborate and exchange ideas.
   • Build the world’s largest digital registry for stakeholders within the startup ecosystem.
2. Key Features:
   • Networking and Collaboration: Facilitates seamless interaction among various stakeholders.
   • Centralized Access to Resources: Provides immediate access to critical tools and knowledge.
   • Personalized Identification: Each stakeholder will receive a unique BHASKAR ID for tailored experiences.
   • Enhanced Discoverability: Supports the visibility of startups and their offerings.
3. Impact on the Startup Ecosystem:
   • Aims to bridge the gap between startups, investors, and mentors, enabling faster decision-making and efficient scaling.
   • Encourages startups to connect, collaborate, and compete effectively within the ecosystem.

Government to Cover MTNL’s Bond Interest Payment Due to Financial Shortfall

• The Department of Telecommunications (DoT) has confirmed that the government will once again cover Mahanagar Telephone Nigam Limited’s (MTNL) upcoming interest payment on bonds
• The government will cover Mahanagar Telephone Nigam Limited’s (MTNL) bond interest payment due to financial shortfalls.
• This marks the second consecutive instance of government support for MTNL’s interest payments.
• The first occurred in July 2023.

Bond Details:

• In July 2023, MTNL raised Rs 2,480 crore through 10-year sovereign-guaranteed bonds.
• The upcoming interest payment is at 7.75% and is due on September 24, 2024.

2. Tripartite Agreement:
   • MTNL, the Department of Telecommunications (DoT), and Beacon Trusteeship Ltd are part of a tripartite agreement.
   • MTNL is obligated to deposit the interest payment into an escrow account 10 days before the due date. However, due to financial difficulties, the government will deposit the funds by September 21, 2024.
3. Upcoming Payments:
   • MTNL requires Rs 1,151.65 crore to cover interest payments for FY25.
   • Total repayments for FY25 amount to Rs 4,620 crore, including both interest and principal.
4. Budget Allocation:
   • The latest Budget has allocated Rs 3,668.97 crore for MTNL’s principal bond repayments.
5. Financial Performance:
   • MTNL has faced annual losses since 2008-09, except for a brief period in 2013-14.
   • In FY24, losses increased to Rs 3,302.19 crore, up from Rs 2,910.74 crore in FY23.

CURRENT AFFAIRS : STATE NEWS

Gujarat Government Establishes GRIT as Policy Think Tank Led by CM Bhupendra Patel

• The Gujarat government has set up the Gujarat State Institution for Transformation-GRIT under Chief Minister Bhupendra Patel’s chairmanship.
• The body will act as a policy think tank on the lines of NITI Ayog.
• The Chief Minister will be the Chairman of the Governing Body of this Grit, while the Finance Minister will be the Vice-Chairman and the Ministers of Agriculture, Health, Education and Industries as members.
• A 10-member executive committee will be in place for the day-to-day operations of GRIT.
• The formal resolution regarding the formation of ‘GRIT’ and its scope will be published by the General Administration Department-Planning Division.

About Gujarat

• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
• NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda Wildlife Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

DGGI Detects Record GST Evasion in FY24, Focus on Online Gaming Industry

• The Directorate General of GST Intelligence (DGGI) identified the highest-ever GST evasion in FY24, totalling Rs 81,875 crore across 78 cases in the online money gaming industry.
• Overall, DGGI uncovered 6,084 cases of tax evasion involving Rs 2.01 trillion in GST during 2023-24, a significant increase from FY23’s Rs 1.01 trillion.

1. Breakdown of Evasion:
   • 46% of evasion cases were linked to non-payment of taxes, including clandestine supply and undervaluation.
   • 20% involved fraudulent Input Tax Credit (ITC) claims, while 19% related to improper ITC claims or failure to reverse them.
2. Sectoral Impact:
   • After online gaming, the BFSI sector (Banking, Financial Services, and Insurance) ranked second, with Rs 18,961 crore evaded across 171 cases.
   • Other sectors involved included works contract services (Rs 2,846 crore), pharmaceuticals (Rs 40 crore), iron, copper, and scrap (Rs 16,806 crore), and pan masala, tobacco, and cigarettes (Rs 5,794 crore).
3. Online Gaming Industry as a High-Risk Sector:
   • The DGGI flagged the online gaming industry as a “high-risk” sector for tax evasion, money laundering, cyber fraud, and socio-economic issues.
   • 118 domestic online gaming entities are under investigation, and 658 offshore entities have been identified as non-compliant.
4. Regulatory Challenges:
   • Despite the implementation of a 28% tax on total deposits in online gaming from October 1, 2023, enforcement remains challenging due to offshore setups in tax havens such as Malta, Curacao Islands, and the British Virgin Islands.
5. Growth of Online Gaming Industry:
   • The industry grew at a compound annual growth rate (CAGR of 28%) and reached Rs 16,428 crore in FY24, driven by factors like smartphone penetration, internet connectivity, and a growing youth population.

CURRENT AFFAIRS: AWARDS AND HONOURS

Dommaraju Gukesh Receives Young Changemaker Award

• Dommaraju Gukesh, an 18-year-old chess prodigy, was awarded Businessline’s Young Changemaker Award.
• The award was accepted by his grandparents, Usha and Shankar Raju, as Gukesh was participating in the 45th Chess Olympiad in Budapest, Hungary.

2. Historic Achievement:
   • Gukesh made history by becoming the youngest chess world championship challenger
   • He has earned a spot in the 2024 Candidates Tournament, making him the third-youngest player in history to do so, following Bobby Fischer and Magnus Carlsen.
3. Notable Feats:
   • Gukesh crossed the 2700 Elo rating in March 2022, making him the youngest Indian Grandmaster to achieve this.
   • At just 16 years and 1 month, he became the third youngest player in the world to surpass the 2700 mark and later reached 2750 Elo as the youngest ever.

Bezan Chenoy Honored for 50 Years as a Professional Trainer by RWITC

• The Royal Western India Turf Club (RWITC) honoured Bezan Chenoy for completing 50 years as a professional horse trainer.
• The recognition took place at the Pune race course.

2. Felicitated by Chairman and Committee:
   • The RWITC chairman and managing committee felicitated Chenoy, acknowledging his dedication and contributions to Indian horse racing.
   • Chenoy remarked, “Fifty years have flown by, but it’s been a great ride.”
3. Career Beginnings:
   • Chenoy started his career as an assistant to Dara Pandole, later traveling to England to advance his training expertise.
   • He received his trainer’s license from the RWITC in August 1974 and saddled his first winner, Naval Glory, within a month of getting his license.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government appoints Arunangshu Sarkar as Oil and Natural Gas Corporation’s 1st Director of Strategy

• Arunangshu Sarkar has been appointed as the Director (Strategy and Corporate Affairs) at Oil and Natural Gas Corporation (ONGC), making him the first to hold this position
• The appointment is part of the government’s efforts to revamp and innovate within ONGC, aiming to bring fresh perspectives to the public sector company.
• Role and Responsibilities: As Director (Strategy), Sarkar will be responsible for overseeing strategic and corporate affairs, contributing to the company’s strategic direction and corporate planning.

About Arunangshu Sarkar :

• Sarkar is a petroleum engineer from the Indian School of Mines, Dhanbad.
• He was serving as Group General Manager (Production) at ONGC.
• He has experience in strategic roles, having previously worked as General Manager (Strategy & Corporate Planning) at ONGC Videsh Ltd, the overseas investment arm of ONGC.

About ONGC :

• Founded : 14 August 1956
• Headquarters : Delhi, India
• Chairman & CEO : Arun Kumar Singh
• ONGC is an Indian central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India.

CURRENT AFFAIRS : DEFENCE NEWS

Cochin Shipyard Launches Two Anti-Submarine Warfare Vessels for Indian Navy

• Two Anti-Submarine Warfare Shallow Watercrafts (ASWCWC) of the Indian Navy, INS Malpe and INS Mulki, were launched at Cochin Shipyard.

About INS Malpe and INS Mulki:

• These vessels are indigenously designed and constructed by Cochin Shipyard Limited (CSL).
• They are part of a series of eight ASWCWC vessels being built under a contract signed between the Ministry of Defence (MoD) and CSL on April 30, 2019.
• Replacement of Abhay Class:These vessels, known as the Mahe Class, will replace the Abhay Class ASW Corvettes in the Indian Navy.
• Capabilities:The vessels are designed for anti-submarine operations in coastal waters.
• They are capable of low-intensity maritime operations, mine-laying, sub-surface surveillance, and search and rescue operations.

Specifications:

• Length: 78.0 m
• Width: 11.36 m
• Draught: 2.7 m
• Displacement: 900 tonnes
• Maximum Speed: 25 knots
• Endurance: 1,800 nautical miles
• Advanced Features:Equipped with indigenously developed SONARS for underwater surveillance.
• Features include light-weight torpedoes, anti-submarine warfare rockets, a close-in weapon system, and remote-controlled guns.

CURRENT AFFAIRS : PERSON IN NEWS

Two Women Officers from Indian Navy Set to Embark on Challenging Global Blue-Water Voyage

• Commanders A. Roopa and K. Dilna of the Indian Navy are set to embark on a blue-water voyage around the world onboard INSV Tarini.
• The voyage is part of the Sagar Parikrama expedition, which the officers have been preparing for over the last three years.

Key Highlights :

• Background of Officers:Lt. Commander K. Dilna hails from Kozhikode, Kerala, and was commissioned into the Navy in June 2014.
• Her father, late Devadasan, served in the Indian Army.
• Commander A. Roopa is from Pondicherry, and joined the Navy in June 2017.
• Her father, G.P. Alagirisamy, was part of the Indian Air Force.
• Sagar Parikrama Expedition:Sagar Parikrama is an arduous blue-water circumnavigation voyage that requires extreme skills, physical fitness, and mental alertness.
• The officers have been training for the last three years and gained thousands of miles of sailing experience.
• Mentorship:They are being trained under the mentorship of retired Commander Abhilash Tomy, a celebrated circumnavigator and Golden Globe Race hero.
• Previous Expedition Experience:As part of a six-member crew, the officers participated in a trans-oceanic expedition from Goa to Rio de Janeiro, Brazil, via Cape Town, South Africa, and back in 2023.
• INSV Tarini:INSV Tarini is renowned for circumnavigating the globe with an all-women crew during the historic Navika Sagar Parikrama in 2017.
• Logo Unveiling:The Indian Navy unveiled the Sagar Parikrama expedition logo, which features:
• Octagonal shape in the center, representing the Indian Navy.
• The sun signifying a celestial body and the compass, guiding sailors through challenging seas.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Bilateral Meetings of Indian Delegation Led by Minister of State for Agriculture, Shri Ram Nath Thakur (Brazil, September 2024)

• Minister of State for Agriculture and Farmers’ Welfare Shri Ram Nath Thakur led the Indian delegation and the Ambassador of India to Brazil Shri Suresh Reddy and Joint Secretary Shri Franklin L. Khobung, Department of Agriculture & Farmers during the bilateral meetings.

1. India-Japan Bilateral Meeting
   • Areas of Cooperation: Focus on technology, food processing, cold storage, sustainability, and agricultural productivity.
   • Market Access Issues:
     • India requested faster market access for Indian pomegranates and grapes.
     • Japan raised the issue of access for Japanese cedar.

2. India-Brazil Bilateral Meeting
   • Science and Technology Cooperation: Both nations agreed to collaborate in science and technology, especially in ethanol production.
   • Market Access:
     • India seeks access for sorghum, rapeseed, cotton, wheat, barley, and onion bulbs.
     • Brazil is interested in gaining access to the Indian market for citrus fruits.
   • Memorandum of Understanding (MoU): The MoU between ICAR India and EMBRAPA Brazil is expected to be finalized before the G20 summit.
3. India-USA Bilateral Meeting
   • Climate-Smart Agriculture: Focus on cooperation in agricultural productivity, forecasting, risk protection, and agricultural credit.
   • Market Access: Discussions on improving access for fruits, vegetables, and alfalfa hay fodder.
   • USDA Collaboration: The US agreed to share learnings on crop insurance systems.
4. India-Germany Bilateral Meeting
   • Indo-German Joint Working Group: Ongoing collaborations on agroecology and technical exchanges.
   • Artificial Intelligence and Organic Farming: Focus on supporting small farmers through AI applications and promoting organic farming practices.
   • Invitation: Germany invited India to participate in the Global Forum for Food and Agriculture in Berlin.
5. India-UK Bilateral Meeting
   • Transformation of Agriculture: Joint efforts towards sustainable agriculture, precision breeding, gene editing, and extension services.
   • KVKs and ATMA: The UK showed interest in learning from India’s agricultural knowledge and technology dissemination systems.
6. India-Spain Bilateral Meeting
   • Veterinary and Sanitary Protocols: Spain expressed interest in collaborating on veterinary certificates for meat and dairy products.
   • Technological Cooperation: Both countries agreed to explore cooperation in genomic techniques, climate-resilient agriculture, and efficient water-use technologies.
7. India-UAE Bilateral Meeting
   • Agriculture Trade: Focus on increasing trade in the agricultural sector.
   • Vertical Farming and High-Yield Technologies: UAE showed interest in collaborating on vertical farming and high-yield technologies for sustainable agriculture.

CURRENT AFFAIRS: SPORTS NEWS

Neeraj Chopra Concludes 2024 Season with Second-Place Finish at Diamond League Final

• Neeraj Chopra, India’s Olympic gold medalist in javelin, finished the 2024 season with a second-place result at the Diamond League final in Brussels.
• Grenada’s Anderson Peters, a Paris 2024 Olympics bronze medallist, won his first Diamond League title with an effort of 87.87 m. The 2023 European Games champion Julian Weber of Germany was third with a distance of 85.97 m.
• Despite winning the Paavo Nurmi Games in Finland earlier in the season, Chopra faced struggles at key events, including the Paris Olympics.
• Neeraj Chopra became the first Indian to win a Diamond League Trophy in 2022.

Key Points:

1. Performance in Brussels:
   • Missed the top spot by just one centimetre(86.82m), highlighting the narrow margin in his final competition of the season.
2. Injuries and Challenges:
   • Chopra’s 2024 season was impacted by injuries and underperformance in major events.

Looking Ahead:

• Neeraj Chopra is now focusing on recovery and preparation for the 2025 season, with hopes of returning stronger to meet his high expectations as one of India’s top athletes.

CURRENT AFFAIRS : OBITUARIES

Leading Lebanese novelist Elias Khoury Passed away

• Lebanese novelist Elias Khoury who dedicated much of his writings to the Palestinian cause and taught at universities around the world, making him one of Lebanon’s most prominent intellectuals, has passed away at the age of 76.

About Elias Khoury :

• Elias Khoury was born and raised in Beirut on July 12, 1948.
• He was a Greek Orthodox Christian and had significant involvement in Lebanon’s civil war (1975-1990), where he was wounded in battle.
• His first novel was published in 1975, with his second novel, Little Mountain (1977), achieving significant success and addressing Lebanon’s civil war.
• Over five decades, he wrote articles for various Arab media outlets, becoming a prominent figure in the Arab world.
• He served as the editor of the cultural section of Lebanon’s leading newspaper, An-Nahar, from 1992 to 2009.
• He Known for his staunch defense of freedom of speech and criticism of Middle Eastern dictatorships.
• He was a vocal supporter of Palestinians and criticized Israel’s policies in Palestinian territories.
• He was an outspoken supporter of the Arab uprisings in 2011.
• He authored an article titled “It’s Palestine” in Al-Quds Al-Arabi daily two days after the Israel-Hamas war began on October 7, where he described Gaza as an “open-air prison” and critiqued Israel’s policies.
• Until his death, he was the editor-in-chief of Palestine Studies, a publication of the Institute for Palestine Studies based in Beirut.

CURRENT AFFAIRS: IMPORTANT DAYS

World Patient Safety Day 2024: September 17

• Every year September 17 is observed as World Patient Safety Day.
• The World Patient Safety Day Theme in 2024 is “Improving diagnosis for patient safety”, to recognize the crucial role patients, families, and caregivers play in health care safety.
• In the year of 2019, the World Health Assembly established World Patient Safety Day with a resolution on patient safety at the international level.
• The World Health Assembly adopted the resolution WHA 72.6 on “Global action on patient safety” which was built on a series of Annual Global Ministerial summits in 2016.
• Though this day was established in 2019, this day was first observed in the year 2021.

Daily CA One- Liner: September 17

• In a boost to green mobility, the Cabinet approved a Rs 10,900-crore incentive for the promotion of electric mobility, including 25 lakh two-wheelers, and another Rs 3,435 crore for uninterrupted operation of more than 38,000 electric buses across cities and towns
• The Spices Board India has introduced a new mobile application called ‘CardsApp’, aimed at enhancing cardamom production.
• The three new criminal laws will be implemented across the country in two years, said a top government official while listing the achievements of 100 days of the NDA government
• Prime Minister Narendra Modi inaugurated six Vande Bharat Express trains via video conference from Ranchi
• Commerce and Industry Minister Piyush Goyal launched the Bharat Startup Knowledge Access Registry (BHASKAR) in New Delhi
• The Department of Telecommunications (DoT) has confirmed that the government will once again cover Mahanagar Telephone Nigam Limited’s (MTNL) upcoming interest payment on bonds
• The Directorate General of GST Intelligence (DGGI) identified the highest-ever GST evasion in FY24, totalling Rs 81,875 crore across 78 cases in the online money gaming industry
• Dommaraju Gukesh, an 18-year-old chess prodigy, was awarded businessline’s Young Changemaker Award.
• The Royal Western India Turf Club (RWITC) honoured Bezan Chenoy for completing 50 years as a professional horse trainer
• Minister of State for Agriculture and Farmers’ Welfare Shri Ram Nath Thakur led the Indian delegation and the Ambassador of India to Brazil Shri Suresh Reddy and Joint Secretary Shri Franklin L. Khobung, Department of Agriculture & Farmers during the bilateral meetings.
• Neeraj Chopra, India’s Olympic gold medalist in javelin, finished the 2024 season with a second-place result at the Diamond League final in Brussels

• The Reserve Bank of India has imposed a penalty of Rs 31.8 lakh on BNP Paribas for non-compliance with certain directions issued by RBI on ‘Interest Rate on Advances’.
• The Reserve Bank of India (RBI) plans to comprehensively revamp its currency management infrastructure over the next 4-5 years to meet future cash demands of the growing economy.
• The National Payments Corporation of India (NPCI) has increased transaction limits for tax payments using the Unified Payments Interface (UPI), allowing people to transfer Rs 5 lakh in a single transaction.
• PhonePe, a Walmart group fintech firm, partnered with Liquid Group, a cross-border payment solutions provider, to expand its merchant acceptance network in Singapore.
• The Gujarat government has set up the Gujarat State Institution for Transformation-GRIT under Chief Minister Bhupendra Patel’s chairmanship.
• Arunangshu Sarkar has been appointed as the Director (Strategy and Corporate Affairs) at Oil and Natural Gas Corporation (ONGC), making him the first to hold this position
• Two Anti-Submarine Warfare Shallow Watercrafts (ASWCWC) of the Indian Navy, INS Malpe and INS Mulki, were launched at Cochin Shipyard.
• Lt. Commanders A. Roopa and K. Dilna of the Indian Navy are set to embark on a blue-water voyage around the world onboard INSV Tarini.
• Lebanese novelist Elias Khoury who dedicated much of his writings to the Palestinian cause and taught at universities around the world, making him one of Lebanon’s most prominent intellectuals, has passed away at the age of 76.

• Every year September 17 is observed as World Patient Safety Day.