Daily Current Affairs July 25 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

Fusion Microfinance Limited Rebranded as Fusion Finance Limited

• Fusion MicroFinance Limited, one of India’s leading Non-Banking Financial Companies – MicroFinance Institutions (NBFC-MFIs) in India, has announced the change of its name to Fusion Finance Limited.

Founding and History:

• Original Incorporation: The company was originally incorporated as Ambience Fincap Pvt Ltd (AFPL) in September 1994.
• Establishment: Fusion MicroFinance was established in 2010.
• Assets Under Management (AUM): As of March 31, 2024, the company’s AUM stands at INR 11,476 crores.
• Significance: Fusion Finance is a significant player in India’s microfinance sector, contributing to the financial inclusion and economic empowerment of underserved communities.

Kotak Mahindra Bank Engages Grant Thornton Bharat as External Auditor Following Reserve Bank of India Directive

• Kotak Mahindra Bank (KMB) has appointed Grant Thornton Bharat as an external auditor for its IT systems.
• This appointment comes months after the Reserve Bank of India (RBI) barred the bank from adding new clients digitally.

Key Highlights :

• RBI Findings:Deficiencies and Non-compliances: In April 2024, the RBI identified deficiencies and non-compliances in several areas of Kotak Mahindra Bank’s IT operations for 2022 and 2023.
• Specific Issues: The issues included IT inventory management, patch and change management, user access management, vendor risk management, and data security.
• Regulatory Action:Prohibition on New Credit Cards: The RBI prohibited Kotak Mahindra Bank from issuing new credit cards.
• Service Continuity: Despite the restrictions, Kotak Mahindra Bank will continue to provide services to its existing customers.

About KMB :

• Founded : 1985
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Ashok Vaswani

Bank of Baroda Introduces AI-Driven Virtual Relationship Manager and Credit Line via UPI

• Bank of Baroda (BoB) launched several new digital and technology-driven services aimed at enhancing the customer banking experience.

Key Highlights :

• Generative AI-Powered Virtual Relationship Manager (VRM):
• First-of-Its-Kind: This VRM is the first initiative of its kind in the Indian banking sector.
• Functionality: Provides real-time information on BoB’s products and services, and captures customer requirements for specific banking needs.
• Multilingual and Multi-Modal: Accessible through video, audio, and chat interfaces, and supports multiple languages.
• Services Offered: Handles basic banking services such as account statements, cheque book requests, debit card requests, and interest certificates.
• Phased Rollout: Will be released to customers in stages.
• Foundation Day Launch:
• 117th Foundation Day: BoB introduced 11 new products and services to mark its 117th foundation day.
• Integration with RBIH:
• Baroda Kisan Credit Card (BKCC): Integrated with the Reserve Bank Innovation Hub’s (RBIH) Public Tech Platform.
• Function: Facilitates frictionless credit by fetching digital land records and farm-related information.
• Digital Process: The BKCC process is fully digital, from customer onboarding to loan account opening and disbursement.
• Pilot Location: Initially implemented in Madhya Pradesh.

About BoB :

• Established : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand
• Tagline : India’s International Bank

CURRENT AFFAIRS: NATIONAL NEWS

Finance Minister Allocates ₹500 Crore for Namo Drone Didi Scheme and Announces Support for Natural Farming

• Finance Minister Nirmala Sitharaman has introduced the Namo Drone Didi scheme and announced substantial support for natural farming in the Union Budget 2024.

Key Highlights:

1. Namo Drone Didi Scheme:
   • Allocation: ₹500 crore
   • Objective: To provide drones to 15,000 selected women self-help groups (SHGs)
   • Duration: 2023-24 to 2025-2026
   • Purpose: These drones will be used by SHGs to offer rental services to farmers, aiming to enhance agricultural productivity and efficiency.
2. Support for Natural Farming:
   • Beneficiaries:1 crore farmers across the country
   • Initiatives:
     • Farmers will be initiated into natural farming, a method that emphasises ecological and sustainable agricultural practices.
     • The program will include certification and branding to support and promote natural farming produce.
   • Implementation: Through scientific institutions and willing gram panchayats
   • Infrastructure: Establishment of 10,000 need-based bio-input resource centres to support natural farming practices.

Government Revives Interest Subsidy Under Pradhan Mantri Awas Yojana (Urban) 2.0

• The government has reinstated the interest subsidy under the Pradhan Mantri Awas Yojana (Urban) 2.0 and allocated ₹4,000 crore for the Credit Linked Subsidy Scheme (CLSS).
• The Union Budget 2024-25 has earmarked ₹30,170 crore for PMAY-U, marking a 20.19% increase from the previous year’s allocation.

Key Highlights:

1. Interest Subsidy and Allocations:
   • CLSS Allocation: ₹4,000 crore
   • PMAY-U Allocation: ₹30,170 crore (20.19% increase from 2023-24)
   • Beneficiaries: Economically Weaker Section (EWS), Lower Income Group (LIG), and Middle Income Group
   • Specific Allocations:
     • EWS and LIG Groups: ₹3,000 crore for house construction under CLSS in urban areas
     • Middle Income Group: ₹1,000 crore

2. Extension and Implementation:
   • Three Verticals: Beneficiary Led Construction/Enhancement, Affordable Housing in Partnership, and In-situ Slum Redevelopment.
   • New Housing Units: 3 crore additional houses in rural and urban areas.
3. Budgetary Support and Investments:
   • Central Assistance:₹2.2 lakh crore over the next five years
   • Total Investment: ₹10 lakh crore to address housing needs of one crore urban poor and middle-class families
4. Additional Budgetary Allocations:
   • Housing and Urban Affairs Ministry: ₹82,576 crore (increased from ₹76,431 crore)
   • Swachh Bharat Mission (Urban): ₹5,000 crore (no increase)
   • PM e-Bus Sewa Scheme: ₹1,300 crore for 10,000 electric buses in 169 cities
5. PM e-Bus Sewa Scheme:
   • Launch Year: 2023
   • End Year: 2037
   • PPP Model: Cities without organized bus services will be prioritized

Khelo India: Major Beneficiary in Union Budget Allocation for Sports Ministry

• Khelo India, the government’s flagship project aimed at promoting sports at the grassroots level, has once again emerged as the biggest beneficiary in the Union Budget allocation for the Sports Ministry.
• This project was allocated ₹900 crore from the overall budget of ₹3,442.32 crore announced on July 23 by Finance Minister Nirmala Sitharaman.

Key Highlights:

1. Increased Allocation:
   • Current Allocation: ₹900 crore.
   • Previous Allocation: ₹880 crore (Revised) for the last financial year.
   • Increase: ₹20 crore increase from the previous year.
2. Budget Context:
   • Overall Budget Increase: The Sports Ministry’s budget saw a marginal increase of ₹45.36 crore from the previous cycle.
   • Previous Cycle Budget: ₹3,396.96 crore.
3. Significance of Khelo India:
   • Continuous Investment: The government has heavily invested in Khelo India to discover and nurture talent across the country.
   • Historical Allocations:
     • 2022-23: Actual allocation was ₹596.39 crore.
     • 2023-24: Initially allocated ₹1,000 crore, later revised to ₹880 crore.
   • Programme Expansion: Since the first Khelo India Youth Games in 2018, the government has continuously added new programs and increased funding.
4. Olympic Cycle:
   • Current Focus: With the Olympic cycle set to end in Paris in August, the Commonwealth Games and Asian Games are still two years away.
   • Strategic Investment: The marginal budget increase reflects strategic planning to support athletes in the interim period between major international events.

Bhu-Aadhaar: Unique Identification for Land Parcels

• The Union Budget announced by Finance Minister Nirmala Sitharaman includes plans to assign unique identification numbers for all land parcels in rural areas, termed “Bhu-Aadhaar,” and to digitise urban land records by 2027.
• This initiative is aimed at streamlining land administration, improving property tax collection, and reducing fraud in land transactions.

Key Highlights:

1. Rural Areas:
   • Bhu-Aadhaar: Unique Land Parcel Identification Number (ULPIN) will be assigned to all land parcels.
   • Digitisation: Cadastral maps will be digitised and surveys conducted to update maps according to current ownership.
   • Land Registry: Establishment of a comprehensive land registry linked to the farmers’ registry.
   • Benefits: Facilitation of credit flow, agricultural services, and accurate land administration.
2. Urban Areas:
   • Digitisation of Land Records: Urban land records will be digitised using GIS mapping.
   • IT-Based System: Implementation of an IT-based system for property record administration, updates, and tax administration.
   • Financial Position: This system aims to improve the financial position of urban local bodies.
3. Fiscal Support:
   • The Centre will provide financial support to states to expedite these reforms.
   • Completion Incentive: Appropriate fiscal support will be offered to incentivize the completion of land-related reforms within the next three years.
4. Economic Survey Insights:
   • Infrastructure Projects: Faster onboarding of digital land records is crucial for the expeditious execution of infrastructure projects.
   • Urban Planning: Reforms will also cover urban planning, usage, and building bylaws, enhancing overall urban development.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Israel plans to launch an e-visa program for Indians by year’s end, targeting 70,000 tourists by 2025

• Israel plans to introduce an e-visa program for Indian travellers, potentially starting later this year.
• This will be the first e-visa program offered by Israel, as currently, no country is eligible for an e-visa to Israel.

Key Highlights :

• Tourist Targets:Israel aims to attract 70,000 Indian tourists by 2025.
• The target is set to increase to 100,000 Indian tourists by 2026.
• Visitor Statistics:By the end of September 2023, Israel had received approximately 41,800 Indian visitors.
• In 2019, the number of Indian tourists was 65,100.
• From January to June 2024, 5,700 Indian tourists visited Israel out of a total of 495,300 global tourists.
• Tourist Source Markets:Major Indian markets for Israel include Delhi, Mumbai, Bengaluru, Kochi, and Hyderabad.
• 50% of Indian tourists this year came from South India.
• Visitor Composition:Pilgrimage tourism constitutes about 48% of the Indian visitor mix to Israel.
• Leisure tourism accounts for around 30%, MICE (Meetings, Incentives, Conferences, and Exhibitions) for 12%, and other categories for 10%.
• Operational Status and Safety:Ben Gurion Airport and major cities (Tel Aviv, Jerusalem, Dead Sea, and Galilee) are fully operational and active.
• The safety of tourists is a top priority for the Israel Ministry of Tourism, which emphasizes careful security measures for both citizens and tourists.

About Israel :

• President : Isaac Herzog
• Prime Minister : Benjamin Netanyahu
• Capital : Jerusalem
• Currency : New shekel

Ivory Coast Becomes 10th African Country to Join the United Nations Water Convention

• Ivory Coast joined the United Nations Water Convention, becoming the 53rd party to the 1992 Convention on the Protection and Use of Transboundary Watercourses and International Lakes.
• Purpose of Joining: To enhance cooperative water management across borders, addressing growing water stress and the effects of climate change on shared water resources.
• Ivory Coast is the 10th African nation to join the Convention.
• Other African nations that have joined include Chad, Senegal, Ghana, Guinea-Bissau, Togo, Cameroon, Nigeria, Namibia, and The Gambia.

Key Highlights :

• Convention Overview: The Convention was initially established as a regional framework for the pan-European region.
• Expanded globally to all UN Member States in 2016.
• Transboundary Water Basins:Ivory Coast shares 8 transboundary river basins with 6 neighbouring countries:
• Rivers: Black Volta, Bia, Tanoe, Comoe, Niger, Sassandra, Cavally, Nuon.
• Neighbouring Countries: Ghana, Burkina Faso, Mali, Guinea, Liberia, Sierra Leone.
• Upcoming Accession:In 2024, Sierra Leone, Zambia, and Zimbabwe are expected to join the Convention, further increasing African representation.
• Niger River Basin: Geographical Scope:The Niger River is Africa’s third-longest river, stretching 4,200 kilometres.
• It traverses nine countries: Benin, Burkina Faso, Cameroon, Chad, Ivory Coast, Guinea, Mali, Niger, and Nigeria.
• Climate Change Vulnerability:The Niger River basin is one of Africa’s most vulnerable regions to climate change.
• A study published on January 8, 2024, in the journal Hydrology and Earth System Sciences indicates that the Niger River basin is likely to experience the largest decrease in river flows across Africa due to climate change.
• Operational Arrangements:According to the latest Sustainable Development Goals (SDG) indicator 6.5.2 report, only 25% of the transboundary basin area in Ivory Coast is covered by operational arrangements.
• No transboundary aquifers shared by Ivory Coast are covered by operational arrangements, as per the UN SDG 6 portal.

About UN Water Convention :

• The UN Water Convention, formally known as the Convention on the Protection and Use of Transboundary Watercourses and International Lakes, was adopted in Helsinki in 1992 and entered into force in 1996.
• Purpose:It is a legally binding instrument aimed at promoting the sustainable management of shared water resources.
• It supports the implementation of Sustainable Development Goals (SDGs), prevents conflicts, and promotes peace and regional integration.

About Ivory Coast :

• President : Alassane Ouattara
• Prime Minister : Robert Beugré Mambé
• Capital : Yamoussoukro
• Currency : West African CFA

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Kristen Michal Appointed as Estonia’s New Prime Minister

• The Estonian parliament approved Climate Minister Kristen Michal as the Baltic country’s next prime minister (PM).
• Michal received 64 votes in favour and 27 against in the Estonian parliament.
• He succeeds Kaja Kallas, who resigned on July 15, 2024 to become the European Union’s new chief diplomat.
• Kaja Kallas resigned as Prime Minister to take up a new role as the European Union’s chief diplomat.

Political Party:

• Both Michal and Kallas are from Estonia’s centrist Reform Party.
• Michal will lead the same majority coalition as his predecessor, composed of Reform, the liberal party Estonia 200, and the centre-left Social Democrats.

Reform Party Ministers:

• The Reform Party retains the Prime Minister position and six ministerial roles.
• The full list of Reform Party ministers includes:
• Yoko Alender, Minister of Climate
• Erkki Keldo, Minister of Economic Affairs and Industry
• Jürgen Ligi, Minister of Finance
• Hanno Pevkur, Minister of Defence
• Signe Riisalo, Minister of Social Protection
• Heidy Purga, Minister of Culture

About Kristen Michal :

• Michal was born in Tallinn on 12 July 1975.
• He served as the minister of justice from 2011 to 2012, minister of economic affairs and infrastructure from 2015 to 2016,and Minister of Climate from 2023 to 2024.

About Estonia :

• President :Alar Karis
• Capital : Tallinn
• Currency : Euro

CURRENT AFFAIRS: MOUS AND AGREEMENT

IOA Partners with Bharat Petroleum as Principal Sponsor for Team India

• The Indian Olympic Association (IOA) has announced Bharat Petroleum Corporation Limited (BPCL) as the principal sponsor for Team India.
• This collaboration, starting with the Paris Olympics and lasting until the 2028 Los Angeles Olympics, is aimed at supporting Indian athletes in their quest for excellence.

Key Highlights:

1. Sponsorship Details:
   • BPCL, a Maharatna and Fortune Global 500 company, will be the principal sponsor for Team India for four years.
   • The partnership begins with the Paris Olympics and continues to the 2028 Los Angeles Olympics.
2. Objectives:
   • The collaboration aims to boost the confidence and aspirations of Indian athletes.
   • BPCL will launch campaigns to garner support for Indian athletes heading to the Paris Olympics.
   • These initiatives will celebrate the athletes’ relentless pursuit of excellence and inspire the nation to support them.
3. Support and Vision:
   • BPCL’s support goes beyond financial backing, aiming to create an environment where athletes can thrive and inspire future generations.
   • The partnership underscores BPCL’s vision of investing in the nation’s sports ecosystem and nurturing new sporting icons.
4. Sustainability Goals:
   • In addition to its support for sports, BPCL aspires to become a Net Zero Energy Company by 2040, showcasing its commitment to sustainability alongside its investment in Indian sports.

WIPO and AIM Collaborate to Boost Innovation and IP in Global South

• A high-level delegation from the World Intellectual Property Organization (WIPO), including Executive Director Mr. Sherif Saadallah and Head Ms. Altaye Tedla, visited NITI Aayog to sign a Joint Letter of Intent (JLoI) with the Atal Innovation Mission (AIM).
• This collaboration aims to build programs for Innovation, Entrepreneurship, and Intellectual Property (IP) for countries in the Global South.

Key Highlights:

1. Event and Dignitaries:
   • Occasion: Signing of Joint Letter of Intent (JLoI).
   • Presence: Shri Dharmendra Pradhan, Cabinet Minister for Education and Skill Development and Entrepreneurship, graced the event.
   • NITI Aayog Representatives: Shri Suman Bery (Vice Chairperson), Dr. V.K. Saraswat (Member), and Dr. Chintan Vaishnav (Mission Director, AIM).
2. Minister’s Remarks:
   • Global Innovation: Shri Dharmendra Pradhan emphasized India’s strength in innovation and the global impact of this partnership.
   • Educational Impact: The partnership will enhance IP awareness from the school level and foster inclusive economic growth.
3. WIPO’s Role and Achievements:
   • Global Innovation Index (GII): WIPO releases the GII annually; India retained the 40th position in 2023 among 132 economies.
   • Patent Growth: India experienced a sixth straight year of growth in patent filings, with a notable 31.6% increase in 2022, driven primarily by resident filings.
4. WIPO Delegation’s Activities:
   • Workshop Participation: The delegation will attend a workshop on Intellectual Property in Innovation at AIC GGSIPU, Dwarka.
   • Student and Industry Interaction: Delegates will engage with students from Atal Tinkering Labs and industry experts from FICCI, NASSCOM, and PHDCCI.
5. Atal Innovation Mission (AIM):
   • Initiative by NITI Aayog: AIM is dedicated to fostering a culture of innovation and entrepreneurship across India.

CURRENT AFFAIRS: RANKING AND INDEX

India’s Progress in Forest Protection and Global Context

• According to the Food and Agriculture Organization (FAO), India makes the third country in the world in terms of forest area growth.
• India has made great progress in protecting forests. From 2010 to 2020, 266,000 hectares of new forest will be added each year.
• Global Ranking: Third in forest area growth according to the Food and Agriculture Organization (FAO).

Top Countries for Forest Area Gains:

1. China: 1,937,000 hectares
2. Australia: 446,000 hectares
3. India: 266,000 hectares
4. Others in the Top Ten: Chile, Vietnam, Turkey, United States, France, Italy, Romania.

India’s Forest Initiatives:

• Restoration Efforts: India has focused on rehabilitating degraded lands.
• Agroforestry Promotion: Adoption of new ideas and national policies supporting agroforestry practices.
• FAO Praise: The FAO commended India’s efforts in these areas.

Global Deforestation Trends:

• Deforestation Reduction: Significant reduction in deforestation rates in many parts of the world.
• Indonesia:4% shrinkage in rainforests in 2023.
• Brazil (Amazon): 50% shrinkage in 2023.
• Climate Change Impact: Increased vulnerability of forests to wildfires and pests.
• Carbon Emissions: Boreal forests contributed significantly to global carbon emissions in 2021. In 2023, wildfires are expected to release 6,687 megatonnes of CO2.

Mangrove and Forest Health:

• Mangrove Loss: Global mangrove loss decreased by 23% from 2000 to 2010 and continued to decline until 2020.
• Forest Threats in the US: Insects and diseases pose major threats, with significant losses expected by 2027.

About the Food and Agriculture Organization (FAO)

• Established: 1945
• Members: 194 countries and the European Union.
• Headquarters: Rome, Italy.
• UN Specialized Agency: Focused on defeating hunger and improving food security.

CURRENT AFFAIRS: SPORTS NEWS

PR Sreejesh To Retire From International Hockey After Paris 2024 Olympics

• Indian hockey goalkeeper PR Sreejesh has announced that the Paris 2024 Olympics will mark his final appearance with the senior national team.
• The 36-year-old veteran will become a four-time Olympian, closing a distinguished career that has spanned nearly two decades.

Key Highlights:

1. Olympic Participation:
   • Paris 2024: Confirmed as his last international tournament.
   • Previous Olympics: Participated in three Olympics, with a significant contribution to the team’s bronze medal win at Tokyo 2020.
2. Career Milestones:
   • Debut: Made his debut for the Indian national team in 2006.
   • Matches Played: Has played 328 matches for India.
3. Major Achievements:
   • Tokyo 2020: Bronze medal.
   • Commonwealth Games:
     • Silver medals at Glasgow 2014 and Birmingham 2022.
   • Asian Games:
     • Two gold medals (Incheon 2014 and Hangzhou 2022).
     • One additional medal.
   • FIH Hockey Pro League 2021-22: Key role in securing third place.
4. Awards and Honors:
   • Major Dhyan Chand Khel Ratna Award:
   • World Games Athlete of the Year: 2021, only the second Indian to receive this honour.
   • FIH Goalkeeper of the Year: 2021 and 2022, consecutively.

Harmanpreet Kaur Becomes Top Run-Scorer in Women’s T20I Cricket for India

• Harmanpreet Kaur surpasses Smriti Mandhana to become India’s top run-scorer in Women’s T20I cricket.
• Milestone achieved during India’s Women’s Asia Cup T20 match against the UAE on July 21 in

1. Match Context:
   • UAE won the toss and opted to bowl first.
   • Smriti Mandhana scored 13 runs before getting out.
2. Key Performances:
   • Shefali Verma: Scored 37 runs off 18 balls with an aggressive approach.
   • Harmanpreet Kaur: Scored 66 runs off 47 balls, including seven fours and a six, surpassing Smriti’s record of 3,378 runs.
   • Richa Ghosh: Scored an unbeaten 64 runs off 29 balls, including 12 fours and a six.
3. Record and Statistics:
   • Harmanpreet Kaur’s T20I total: 3,415 runs from 171 matches.
   • Average: 28.22, Strike Rate: 107.35.
   • Leads Smriti Mandhana by 37 runs.
4. India’s Performance:
   • India posted a challenging total of 201/5 in 20 overs, their first 200-plus total in WT20Is.
   • Previous highest total was 198/4 against England in Mumbai.
5. Match Outcome and Implications:
   • UAE’s inexperienced batting lineup faced a challenging 202-run target.
   • India, seven-time Asia Cup champions, aimed to secure two consecutive wins after defeating Pakistan in their opening match.
   • UAE had lost their first game against Nepal.

CURRENT AFFAIRS: BOOKS AND AUTHOR

A book title: Jamsetji Tata: Powerful Learnings for Corporate Success

• The book “The Vision of Jamsetji Tata,” co-authored by R. Gopalakrishnan and Harish Bhat, offers a compelling narrative interwoven with real-life stories and anecdotes about the creation of some of India’s most beloved brands, such as Tata Tea, Tata Motors, Titan, and Tanishq.
• It provides valuable insights into the entrepreneurial spirit and vision of Jamsetji Tata, a pioneering industrialist and nationalist.

Key Highlights:

1. Jamsetji Tata’s Vision:
   • Foundational Contributions: His vision led to the creation of Empress Mills, the Iron and Steel Plant, the Indian Institute of Science (IISc), and the Taj Mahal Hotel.
   • Entrepreneurial Principles: The book delves into the principles that guided Tata’s ventures, showcasing his innovative and enduring approach to business.
2. Jamsetji Tata’s Legacy:
   • Pioneer and Visionary: Jamsetji was a trailblazer in colonial India, demonstrating exceptional entrepreneurial adventure and acumen.
   • Nationalist Ideals: He believed that the success of his businesses should benefit the country, reflecting his deep commitment to India’s development.
   • Humaneness: Beyond his business acumen, Jamsetji’s compassion and concern for societal welfare set him apart as a key figure in India’s history.
3. Institutionalization of Tata Values:
   • Enduring Legacy: The book explores how Jamsetji and his successors institutionalized the core values of Tata, ensuring the company’s long-term success and contribution to India’s industrial growth.
   • Consistent Vision: The Tata values, emphasizing ethical business practices and social responsibility, have been a cornerstone of the group’s enduring success

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

European Space Agency Announces Mission to Investigate Apophis Asteroid

• The European Space Agency (ESA) has announced a mission to study the Apophis asteroid when it passes by Earth at a very close distance in 2029.
• ESA is the second major space agency, after National Aeronautics and Space Administration (NASA), to commit a space mission for Apophis that was once considered to be on a pathway to collide with the Earth.
• Apophis will come within 32,000 km of the Earth in 2029, offering space agencies a rare opportunity to study an asteroid from such close quarters.
• ESA stated that an asteroid of such a large size comes this close to the Earth only once in about 5,000 to 10,000 years.

About RAMSES :

• The Rapid Apophis Mission for Space Safety (RAMSES) spacecraft would approach the asteroid.
• It will intercept the asteroid 99942 Apophis and accompany it through its safe but exceptionally close flyby of Earth in 2029.
• Roughly 375 m across, Apophis will pass within 32,000 km from Earth’s surface on 13 April, 2029.
• It will be the closest approach of an asteroid of this size that humankind has ever known about in advance.
• For a short time, Apophis will be visible to the naked eye in clear, dark skies for about 2 billion people across much of Europe, and Africa, and parts of Asia.
• Apophis will miss Earth. Astronomers have ruled out any chance that the asteroid will collide with our planet for at least the next 100 years.
• RAMSES will work in synergy with the NASA mission OSIRIS-APEX that will arrive at Apophis a few days after the closest approach of the asteroid to the Earth, allowing a comparison of the asteroid properties measured by the two missions.

About European Space Agency :

• Established : 30 May 1975
• Headquarters : Paris, France
• Director General : Josef Aschbacher
• The ESA is a 22-member intergovernmental body devoted to space exploration.

CURRENT AFFAIRS : OBITUARIES

Ex-PGA Tour champion and golf broadcaster Mark Carnevale Passed away

• Mark Carnevale, former PGA Tour winner and golf broadcaster, passed away at the age of 64.

About Mark Carnevale :

• Carnevale was born in Annapolis, Maryland,United States (US).

Achievements:

• He Won the 1992 Chattanooga Classic, marking the beginning of his legacy in golf.
• He was Voted PGA Tour Rookie of the Year in 1992.
• In 2003, he became tournament director of the Nationwide Tour’s Virginia Beach Open.
• Beginning in 2005, Carnevale hung up his clubs and continued his interest in golf as a broadcaster.
• He was Sirius XM Radio’s lead PGA Tour tournament caller, and had just finished calling a tournament just a week prior to his death.
• In May 2010, he began playing in a limited number of events on the Champions Tour.
• He was scheduled to cover this week’s upcoming tournament, the 3M Open, located in Blaine, Minnesota.

Padma Shri Awardee and Noted Organic Farmer Kamala Pujari Passed Away

• Padma Shri awardee and noted organic farmer Kamala Pujari passed away at the age of 74 in cuttack, Odisha.

About Kamala Pujari :

• Kamala Pujari born in Koraput District, Orissa, India
• She was a promoter of organic farming and had harvested 100 varieties of rice.
• She learned the basic techniques from MS Swaminathan Research Foundation at Jeypore and contributed a lot in the field of organic farming.
• She held the unique distinction of being the first tribal woman to be included in the list of members of the Odisha State Planning Board.
• Koraput Traditional Agriculture is one of the Globally Important Agricultural Heritage Systems (GIAHS) since 2012 recognised by the Food and Agriculture Organization of the United Nations.

Awards & Honors :

• Padma Shri: Conferred with the Padma Shri in 2019 by President Ramnath Kovind.
• State Planning Board: Served as a member of the Odisha State Planning Board in 2018.
• Best Farmer Award: Received the best farmer award from the Odisha government in 2004.
• Equator Initiative Award: Won the award in Johannesburg, South Africa in 2002.

Daily CA One-Liner: July 25

• Fusion MicroFinance Limited, one of India’s leading Non Banking Financial Companies – MicroFinance Institutions (NBFC-MFIs) in India, has announced the change of its name to Fusion Finance Limited.
• Kotak Mahindra Bank (KMB) has appointed Grant Thornton Bharat as an external auditor for its IT systems.
• Bank of Baroda (BoB) launched several new digital and technology-driven services aimed at enhancing the customer banking experience.
• Israel plans to introduce an e-visa program for Indian travellers, potentially starting later this year.
• Ivory Coast joined the United Nations Water Convention, becoming the 53rd party to the 1992 Convention on the Protection and Use of Transboundary Watercourses and International Lakes.
• The Estonian parliament approved Climate Minister Kristen Michal as the Baltic country’s next prime minister (PM).
• The European Space Agency (ESA) has announced a mission to study the Apophis asteroid when it passes by Earth at a very close distance in 2029.
• Mark Carnevale, former PGA Tour winner and golf broadcaster, passed away at the age of 64.
• Padma Shri awardee and noted organic farmer Kamala Pujari passed away at the age of 74 in Cuttack, Odisha.
• Finance Minister Nirmala Sitharaman has introduced the Namo Drone Didi scheme and announced substantial support for natural farming in the Union Budget 2024
• The government has reinstated the interest subsidy under the Pradhan Mantri Awas Yojana (Urban) 2.0 and allocated ₹4,000 crore for the Credit Linked Subsidy Scheme (CLSS).
• Khelo India, the government’s flagship project aimed at promoting sports at the grassroots level, has once again emerged as the biggest beneficiary in the Union Budget allocation for the Sports Ministry.
• The Union Budget announced by Finance Minister Nirmala Sitharaman includes plans to assign unique identification numbers for all land parcels in rural areas, termed “Bhu-Aadhaar,” and to digitise urban land records by 2027
• The Indian Olympic Association (IOA) has announced Bharat Petroleum Corporation Limited (BPCL) as the principal sponsor for Team India.
• A high-level delegation from the World Intellectual Property Organization (WIPO), including Executive Director Mr. Sherif Saadallah and Head Ms. Altaye Tedla, visited NITI Aayog to sign a Joint Letter of Intent (JLoI) with the Atal Innovation Mission (AIM).
• According to the Food and Agriculture Organization (FAO), India makes the third country in the world in terms of forest area growth
• Harmanpreet Kaur surpasses Smriti Mandhana to become India’s top run-scorer in Women’s T20I cricket.
• The book “The Vision of Jamsetji Tata,” co-authored by R. Gopalakrishnan and Harish Bhat, offers a compelling narrative interwoven with real-life stories and anecdotes about the creation of some of India’s most beloved brands, such as Tata Tea, Tata Motors, Titan, and Tanishq.