Daily Current Affairs July 30 2024 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING & FINANCE

PSU Banks Likely to Receive Additional 2-Year Extension to Meet SEBI’s Minimum Public Shareholding Norms    

• Public sector banks (PSBs) are expected to receive another two-year extension to comply with the Securities and Exchange Board of India’s (SEBI’s) minimum public shareholding (MPS) norms, requiring a minimum public shareholding of 25%.
• This extension follows a special forbearance that allowed state-owned banks until August 2024 to meet the requirement.

Key Highlights :

• Current Compliance Status:Out of 12 public sector banks, 5 have not yet complied with the MPS norms.
• The government’s holding in these banks exceeds 75%.

Banks with High Government Holdings:

• Punjab & Sind Bank: Government holding is 98.25%.
• Indian Overseas Bank: Government holding is 96.38%.
• UCO Bank: Government holding is 95.39%.
• Central Bank of India: Government holding is 93.08%.
• Bank of Maharashtra: Government holding is 86.46%, which may fall below 75% during the current fiscal year.
• Strategic Decisions and Market Conditions:Decisions on share sales through Qualified Institutional Placement (QIP) or other routes will depend on the banks’ capital needs and market conditions.
• Each bank will make decisions in the best interest of its shareholders.
• Financial Sector Vision and Strategy Document:The Department of Economic Affairs (DEA) will release the financial sector vision and strategy document during the current fiscal year.
• The document will include the strategy for Vision 2047, covering aspects such as the number of banks needed for a developed India (Viksit Bharat) and the required global banks by 2047.

Shriram Group Receives Reserve Bank of India Approval to Enter Asset Reconstruction Business      

• Chennai-based conglomerate Shriram Group is set to enter the asset reconstruction (ARC) business during the current financial year and has received approval from the Reserve Bank of India (RBI).
• This move is part of their broader plan announced in November 2023 which includes entering both the asset reconstruction and wealth management sectors.

Key Highlights :

• Wealth Management and Asset Reconstruction:The wealth management business will be operated under Shriram Credit, a subsidiary of Shriram Capital.
• The asset reconstruction business will be managed by Shriram Capital.
• Shriram Finance’s AUM and Growth:Shriram Finance (SFL), India’s largest retail non-banking financial company (NBFC), has set a guidance of 15% growth for its assets under management (AUM) for the current financial year.
• As of the end of the first quarter, Shriram Finance’s total AUM increased by 21% to Rs 2,33,443.63 crore from Rs 1,93,214.67 crore in the same period of the previous financial year.

Recent News :

• In June 2024, Shriram Finance’s board approved the sale of its housing-finance subsidiary, Shriram Housing Finance (SHFL), to Warburg Pincus for Rs 4,630 crore.

About Shriram Group :

• Founded : 5 April 1974
• Headquarters : Chennai, Tamil Nadu, India
• Chairman : R. Thyagarajan

Securities and Exchange Board of India Imposes Three-Year Ban on Vijay Mallya from Indian Markets     

• The Securities and Exchange Board of India (SEBI) has barred Vijay Mallya from accessing the Indian securities market for 3 years.
• Reason for Ban: Mallya was found guilty of illegally routing funds into the Indian stock market through his UBS bank accounts in London between January 1, 2006, and March 31, 2008.

Key Highlights :

• Restrictions Imposed:Mallya is also prohibited from associating with any listed entities for the same three-year period.
• Investment Vehicle Used:Mallya used a sub-account called Matterhorn Ventures, which was registered as a foreign institutional investor (FII), to indirectly trade in the shares of his own group companies, Herbertsons and USL (United Spirits Limited).
• Funds were routed through various beneficiary accounts with UBS to the Indian securities market, which is not allowed for investments meant for non-resident Indians.
• Previous Sanctions:SEBI had previously barred Mallya from accessing the securities market for three years, starting June 1, 2018, due to manipulative activities and improper transactions related to the shares of USL.

About SEBI :

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

Reserve Bank of India Revokes License of The Mahabhairab Cooperative Urban Bank Limited., Tezpur, Assam   

• The Reserve Bank of India (RBI) has cancelled the license of The Mahabhairab Cooperative Urban Bank Limited., Tezpur, Assam.
• The bank ceased its banking operations effective from the close of business on July 24, 2024.
• The Registrar of Cooperative Societies, Assam has been requested to issue an order for winding up the bank and to appoint a liquidator.

Key Highlights :

• Compliance Issues:The bank did not meet the required capital and earning prospects.
• It failed to comply with Section 11(1) and Section 22(3)(d) read with Section 56 of the Banking Regulation Act, 1949.
• Deposit Insurance:Depositors are entitled to a deposit insurance claim up to ₹5,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC) under the provisions of the DICGC Act, 1961.
• Insurance Payment: As of June 13, 2024, DICGC has paid ₹20.03 crore of the total insured deposits based on the willingness received from the concerned depositors.

Recent News :

• The RBI cancelled the licence of Uravakonda Co-operative Town Bank Limited., located in Uravakonda, Anantapur District, Andhra Pradesh (AP).

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Shaktikanta Das
• Deputy Governors : Shri M. Rajeshwar Rao, Shri Swaminathan J, Shri T. Rabi Sankar, Dr. M.D. Patra

Karnataka Bank Partners with ICICI Lombard General Insurance to Offer Enhanced Insurance Solutions and Benefits to Customers    

• Karnataka Bank has partnered with ICICI Lombard General Insurance Company Limited to offer enhanced insurance solutions and customer benefits to its patrons.
• Through this tie-up, Karnataka Bank customers will have access to a wide range of comprehensive insurance products and services provided by ICICI Lombard.
• These offerings include health insurance, motor insurance, travel insurance, home insurance, and more, catering to the diverse insurance needs of individuals and businesses alike.

About Karnataka Bank :

• Founded: February 18, 1924.
• Headquarters: Mangalore, Karnataka, India.
• MD & CEO: Srikrishnan Hari Hara Sarma.
• Tagline: “Your family bank across India.”

About ICICI Lombard :

• Founded: 2001.
• Headquarters: Mumbai, Maharashtra, India.
• Chairman & Managing Director: Sanjeev Mantri.
• Ownership Structure: A joint venture between ICICI Bank (holding a 64% stake) and Fairfax Financial Holdings Limited (holding a 36% stake).
• ICICI Bank is India’s second-largest bank, and Fairfax Financial Holdings is based in Toronto.

Tata Power Solar Collaborates with Bank of India to Offer Affordable Financing for Rooftop Solar and Electric Vehicle Charging Station Installations      

• Tata Power Solar Systems Limited (TPSSL) has partnered with the Bank of India (BOI) to provide easy and affordable financing for rooftop solar installations and electric vehicle (EV) charging stations.
• The partnership is a significant milestone with Tata Power Solar becoming the 1st solar company to collaborate with BOI for both solar and EV Charging Station financing and strengthening its leadership as a green energy solutions provider.

Key Highlights :

• Support for Government Initiatives:This collaboration aligns with the government’s initiatives to promote rooftop solar installations.
• Targeted customers include residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs).
• Loan Details under PM Surya Ghar Yojana:Under the PM Surya Ghar Yojana, Residential customers can avail up to Rs 2 lakh for solar systems up to 3 KW with a 5% margin money requirement.
• Loans are offered at an interest rate of10% per annum, collateral-free, with a tenure of up to 10 years.
• For installations above 3 KW and up to 10 KW, loans can be availed up to Rs 6 lakh with a 5% margin money requirement.
• The interest rates for these loans range from 8.3 per cent to 10.25% per annum, and these are also collateral-free with a tenure of up to 10 years.
• Housing Societies and Residential Welfare Associations:Registered housing societies and residential welfare associations can benefit from loans up to Rs 1 crore with a 10% margin money requirement.
• MSME Customers: All UDYAM-registered MSME customers can avail of loans up to Rs 30 crore for setting up rooftop solar systems or EV charging stations.
• These loans have low interest rates starting from 9.35% per annum, a 15% margin requirement, collateral-free options, and a repayment tenure of up to 120 months.
• Benefits of MSE-GIFT (Green Investment & Financing for Transformation) interest subvention can also be obtained.
• MD & CEO of Tata Power Renewable Energy Limited : Deepesh Nanda

About Bank of India :

• Established : 7 September 1906
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Rajneesh Karnatak
• Tagline : Relationship Beyond Banking

CURRENT AFFAIRS: NATIONAL NEWS

India Reports 350 Vape Violations Despite Ban on E-Cigarettes

• The Union Health and Family Ministry’s tobacco cell reported 350 vape-related violations since 2022.
• The violations persist despite the ban on e-cigarettes and vapes under the Prohibition of Electronic Cigarettes Act, 2019.

E-Cigarette Overview:

• E-cigarettes, or Electronic Nicotine Delivery Systems (ENDS), are battery-powered devices that vape a flavoured solution containing nicotine.
• Nicotine is an addictive chemical found in tobacco products.

Annual Violation Breakdown:

• FY24: 263 violations
• FY23: 33 violations
• FY22: 48 violations
• FY21: No reported cases

Government Enforcement:

• 44 violations reported in the current financial year.
• 14,795 challans issued under Section 6 of The Cigarettes and Other Tobacco Products Act, 2003, which prohibits the sale of tobacco products to and by persons below 18 years.

Global Context:

• According to a WHO report, around 30 countries have banned ENDS, including:
  • Mauritius
  • Australia
  • Singapore
  • Korea (Democratic People’s Republic)
  • Sri Lanka
  • Thailand
  • Brazil
  • Mexico
  • Uruguay
  • Bahrain
  • Iran
  • Saudi Arabia
  • United Arab Emirates

Key Legislation:

• Prohibition of Electronic Cigarettes Act, 2019: Bans production, manufacture, import, export, transport, sale, distribution, storage, and advertisement of e-cigarettes and vapes.
• The Cigarettes and Other Tobacco Products Act, 2003 (COTPA): Prohibits the sale of cigarettes and other tobacco products to and by persons below 18 years.

India Evaluates New B-READY Framework to Support World Bank’s Business Ready Project

• The World Bank’s new B-READY project will replace the Doing Business survey, which was discontinued due to data irregularities in 2018 and 2020.
• The B-READY project aims to benchmark business environments and investment climates across various economies in a more balanced and transparent manner.

1. India’s Involvement:

• India is evaluating the indicators and questions related to the new B-READY framework, particularly those on international trade.
• The Indian government has sought inputs from various industry sectors, with responses due by the end of the month.
• Different Ministries and Departments are evaluating other aspects of the B-READY framework.

2. Pilot Reports:

• Three B-READY pilot reports are scheduled for release from 2024 to 2026.
• The first pilot will cover 54 economies, eventually expanding to include 185 economies.

3. Indicators and Topics:
   • The B-READY survey will assess countries based on 10 indicators/topics:
     • Business entry
     • Business location
     • Utility services
     • Labour
     • Financial services
     • International trade
     • Taxation
     • Dispute resolution
     • Market competition
     • Business insolvency

Prime Minister Narendra Modi’s Mann Ki Baat: Highlights on Khadi Startups, Handloom Industry, and Drug Rehabilitation Initiatives

• Prime Minister Narendra Modi, in his latest “Mann ki Baat” radio address, commended the emergence of khadi startups and highlighted the vibrant handloom industry spread across India.
• He emphasized the significant contributions of women and startups in revitalizing these traditional sectors and announced several government initiatives aimed at promoting social welfare.

Khadi and Handloom Industry:

• Khadi Startups: PM Modi praised the rising number of khadi startups and their role in rejuvenating the handloom industry. He highlighted several AI-backed initiatives such as Kosha AI, Handloom India, D-Junk, Novatax, and Brahmaputra Fables that are making handloom products more popular.

Economic Impact: The Khadi Village Industry has achieved a milestone with a turnover exceeding ₹1.5 lakh crore, marking a 400% increase in sales. This growth is creating numerous employment opportunities, particularly for women.

• UNNATI Self-Help Group: Women involved in the handloom sector are now earning more after joining the UNNATI Self-Help Group, where they receive training in block dyeing and printing. This initiative has significantly boosted their income and skill set.

Government Initiatives:

• Drug Rehabilitation Portal – ‘Manas’: PM Modi discussed the government’s new drug rehabilitation portal, ‘Manas’, aimed at combating drug addiction. The platform provides necessary advice and information related to rehabilitation and maintains confidentiality.
• A toll-free number, 1933, has been established for individuals to seek help or report drug-related information to the Narcotics Control Bureau.

Cultural Recognition:

• UNESCO World Heritage Site: The Prime Minister also celebrated the recent inclusion of Charaideo Maidam of Assam in the UNESCO World Heritage Sites list. This recognition underscores India’s rich cultural heritage and its global significance.

Ministry of Textiles Announces PM MITRA Parks: A Major Boost for India’s Textile Sector

• The Ministry of Textiles has announced the establishment of seven Mega Integrated Textile Region and Apparel (PM MITRA) Parks with a total outlay of Rs. 4,445 crore.
• This initiative aims to advance India’s textile industry and achieve the United Nations Sustainable Development Goal 9, focusing on building resilient infrastructure, promoting sustainable industrialisation, and fostering innovation.

Key Highlights

1. 5F Vision Inspiration:
   • The PM MITRA scheme is inspired by the Prime Minister’s 5F vision: Farm to Fibre to Factory to Fashion to Foreign.
   • It aims to build an Aatmanirbhar Bharat (self-reliant India) and position India prominently on the global textiles map.
2. Integrated Textile Value Chain:
   • The parks will consolidate the entire textile value chain, including spinning, weaving, processing/dyeing, printing, and garment manufacturing, in one location.
   • This integration will reduce logistics costs and improve efficiency in the industry.
3. Employment Generation:
   • Each PM MITRA Park is expected to generate around 1 lakh direct and 2 lakh indirect jobs, boosting local economies and job markets.
4. Site Selection Criteria:
   • Sites for the parks will be selected through a Challenge Method based on objective criteria.
   • State governments with available contiguous, encumbrance-free land parcels of over 1,000 acres and existing textile-related facilities are encouraged to submit proposals.
5. State Participation:
   • States expressing interest include Tamil Nadu, Punjab, Odisha, Andhra Pradesh, Gujarat, Rajasthan, Assam, Karnataka, Madhya Pradesh, and Telangana.

Town Official Language Implementation Committee-TOLIC (PSU) Meeting in Visakhapatnam

• The Town Official Language Implementation Committee-TOLIC (PSU) meeting, hosted by NTPC, took place in

Key Highlights:

Awards Presented:

• Rajbhasha Gaurav Samman for 2023-24 was awarded to PSUs in Visakhapatnam for excellence in Official Language implementation.
• Nagar Rajbhasha Samman was awarded to Hindi Officers and Coordinators.

Award Categories and Winners:

• Category I:
  • First Prize: HPCL-Visakha Refinery
  • Second Prize: NTPC Simhadri
  • Third Prize: Airport Authority of India
• Category II:
  • First Prize: GAIL
  • Second Prize: HPCL-Visakha Regional Office
  • Third Prize: SAIL – Branch Transport & Shipping Office
  • Consolation Prize: FCI-Regional Office
• Category III:
  • First Prize: MSTC
  • Second Prize: HPCL LPG
  • Third Prize: ECGC (Export Credit Guarantee Corporation of India)

Commendations:

• Atul Bhatt, Chairman of TOLIC (PSU), CMD of RINL, commended TOLIC’s efforts and the progressive use of Hindi in Visakhapatnam.
• Anirban Kumar Biswas, Deputy Director (Implementation), Ministry of Home Affairs, reviewed and appreciated the member organizations’ performance and elaborated on the government’s guidelines for Official Language implementation.
• Dr. Rita Trivedi, Assistant Director of, Hindi Teaching Scheme, highlighted the Hindi training facilities in Visakhapatnam and encouraged member offices to utilize them.

Publications:

• The 8th issue of the ‘Visakha Dhara’ TOLIC Hindi Magazine was released by prominent figures including Atul Bhatt, Sanjay Kumar Sinha, Anirban Kumar Biswas, Dr. Rita Trivedi, G Gandhi, and Dr. Lalan Kumar.

Meeting Conveners:

• Dr. Lalan Kumar, GM (Rajbhasha & Hospitality), RINL
• Dr. T Hymavathi, AGM (Rajbhasha), RINL
• Smt. V Suguna, Sr. Manager (Rajbhasha), RINL, proposed the vote of thanks.

CURRENT AFFAIRS : STATE NEWS

Kerala Targets Boost in Foreign Student Enrolment in Higher Education Institutions    

• Kerala is launching the ‘Study in Kerala’ programme to attract international students to its higher education institutions.
• The initiative aims to enhance cultural diversity, bolster the higher education sector, and equip students to work in a global society.

Key Highlights :

• Current Performance: Kerala’s performance in hosting foreign students is underwhelming compared to neighbouring states.
• In the 2020-21 academic year, only 266 international students enrolled in Kerala’s institutions, compared to Karnataka (8,137) and Tamil Nadu (3,685).
• In 2019-20, Kerala hosted 302 international students.
• Government Approval: The Kerala government has granted in-principle sanction to the initiative proposed by the Kerala State Higher Education Council.
• Report and Recommendations: The Commission for Reforms in Higher Education, chaired by Shyam B. Menon highlighted the need to attract international students to enhance the educational landscape and achieve a knowledge society.
• Phased Rollout:
• First Phase:
• Focus on attracting international students for short-term programmes.
• Offer two-week to one-month academic courses with cultural immersion activities.
• These programmes may or may not include academic credits and will charge reasonable fees.
• Second Phase:
• Target international students for full-time programmes at select universities and colleges.
• Strategies tailored to attract self-funded students from regions like Africa and South Asia.
• Responsibilities include promoting Kerala as an attractive destination, managing an online application platform, developing promotional strategies, and collaborating with institutions to prepare for hosting international students effectively.

Recent News :

• In July 2024, The Kerala government introduced QR code registration for all inland vessels, including houseboats, operating in the state.

About Kerala:

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

Goa Chief Minister Pramod Sawant Unveils ‘Goem Vinamulya Vij Yevjan’ Solar Energy Program     

• In a significant move towards sustainable energy, Chief Minister Pramod Sawant has launched the ‘Goem Vinamulya Vij Yevjan’ initiative in Goa.
• This scheme is aligned with the Prime Minister’s Surya Ghar Muft Bijli Yojana and aims to boost solar energy adoption in Goa.
• The new scheme is designed to enhance solar rooftop capacity and empower residential households in Goa to generate their own electricity.
• The PM Surya Ghar Muft Bijli Yojana aims to increase the share of solar rooftop capacity and empower residential households to generate their electricity.

About the Scheme :

• Financial Details: The scheme has an outlay of Rs 75,021 crore and is to be implemented till FY 2026-27.
• Initial Investment : The government of Goa, under the Goem Vinamulya Vij Yevjan, with an initial investment of 35 crore, in addition to the Central Financial Assistance, will bear the balance cost of the rooftop installation up to 5 kW for consumers consuming 400 or fewer units for the last year.
• CM Sawant’s Appeal:CM Sawant urged all residential consumers to avail the benefits of the scheme and support the PM-Surya Ghar Muft Bijli Yojana along with Goem Vinamulya Vij Yevjan.

About Goa :

• Governor : P. S. Sreedharan Pillai
• Chief Minister : Pramod Sawant
• Capital : Panaji
• Festivals : Shigmotsav/Gulalotsav Festival, Sao Joao, Goa Carnival
• Airport : Manohar International Airport (Goa Airport)

CURRENT AFFAIRS: BUSINESS NEWS

Insider Trading Regulations for Mutual Funds Set to Commence in November 2024

• Nearly two years after their initial notification, insider trading regulations for mutual funds (MFs) will finally come into force on November 1, 2024.
• Previously, such rules only applied to securities of listed companies or those proposed to be listed.
• The Securities and Exchange Board of India (SEBI) initiated this process with a consultation paper in July 2022, followed by a formal notification in November of the same year.
• However, the implementation faced delays primarily due to industry pushback and operational challenges in establishing common standards.

Key Elements of the New Regulations:

• Structured Digital Database (SDD): MFs will be required to maintain an SDD detailing the nature of unpublished price-sensitive information (UPSI).
• Code of Conduct: A separate and stringent code of conduct for employees will be instituted to ensure compliance.
• Additional Disclosures: Increased transparency and disclosure requirements will be mandated, significantly raising the compliance burden on mutual funds.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Manoj Mittal Appointed as Chairman and Managing Director of Small Industries Development Bank of India    

• Manoj Mittal has been appointed as the Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI) by the Government of India.
• He succeeds S Ramann, who joined SIDBI in April 2021 for a three-year term.

Previous Roles of Manoj Mittal :

• Manoj Mittal previously served as Managing Director and CEO at Industrial Finance Corporation of India (IFCI).
• He was also the Deputy Managing Director at SIDBI.

About SIDBI:

• Established: April 2, 1990, under an act of the Indian Parliament.
• Headquarters: Lucknow, Uttar Pradesh, India.
• Role: SIDBI is the apex regulatory body for the licensing and regulation of micro, small, and medium enterprise (MSME) finance companies in India.
• Jurisdiction: Under the Ministry of Finance, Government of India.
• Mandate: SIDBI serves as the Principal Financial Institution for promoting, financing, and developing the MSME sector and coordinating the functions of various institutions engaged in similar activities.

HS Dhaliwal Named New Director General of Police of Andaman and Nicobar Islands                 

• The Ministry of Home Affairs (MHA) appointed senior IPS officer Hargobinder Singh Dhaliwal as the new Director General of Police (DGP) of Andaman and Nicobar Islands.
• Before his appointment, he served as the Special Commissioner of Police in New Delhi, overseeing traffic zone II.

About Hargobinder Singh Dhaliwal :

• Dhaliwal is a 1997-batch IPS officer and an alumnus of Panjab University.
• He has a notable career with significant achievements:
• Solving the Dhaula Kuan gangrape case.
• Solving the journalist Saumya Vishwanathan’s murder case.
• Solving the Jigisha Ghosh murder case.
• Playing a crucial role in investigating the murder case of Punjabi singer Sidhu Moosewala.
• Meanwhile, incumbent DGP Devesh Chandra Srivastava has been transferred to New Delhi.

About Devesh Chandra Srivastva :

• Srivastava, with 27 years of distinguished service, has held various pivotal roles in Arunachal Pradesh, Goa, Delhi, and Mizoram.
• He has been honoured with the Police Medal for ‘Meritorious Service’ and the President’s Police Medal for ‘Distinguished Service’ during his career.

About Ministry of Home Affairs :

• Cabinet Minister : Amit Shah
• Minister of State : Nityanand Rai, Bandi Sanjay Kumar,

About Andaman and Nicobar Islands :

• Lieutenant governor : Devendra Kumar Joshi
• Capital : Port Blair

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation and National Aeronautics and Space Administration Partner to Send Indian Astronaut to International Space Station After August 2024    

• India is set to send an astronaut to the International Space Station (ISS), marking a significant milestone in its space exploration efforts.
• Space Minister Jitendra Singh announced in Lok Sabha that an Indian astronaut, referred to as a “gaganyaatri,” will soon travel to the ISS.
• This mission is a collaborative effort involving the Indian Space Research Organisation (ISRO), National Aeronautics and Space Administration (NASA), and private company Axiom Space.
• The partnership has been formalized through a space flight agreement with Axiom Space.
• NASA confirmed that the mission, designated as Axiom-4, is scheduled to launch no earlier than August 2024 from Kennedy Space Center in Florida.

Key Highlights :

• Selected Astronauts:The astronaut selected for the ISS mission will be one of four Indian Air Force (IAF) pilots currently in training for ISRO’s Gaganyaan mission.
• These astronauts were chosen by ISRO’s Astronaut Selection Board and underwent basic spaceflight training in Russia during the COVID-19 pandemic.
• They are now continuing their training at ISRO’s Astronauts Training Facility in Bengaluru.

What is ISRO’s Gaganyaan Mission?

• The Gaganyaan project aims to demonstrate human spaceflight capabilities by sending a crew of three into orbit for a three-day mission, scheduled for launch in
• Crew Return: The mission will see the crew safely return to Earth, landing in Indian waters.
• Orbital Module: The Gaganyaan spacecraft consists of a service module and a crew module, known together as the Orbital Module.
• Launch Vehicle: The mission will use the Geosynchronous Satellite Launch Vehicle (GSLV) Mk III, capable of carrying the required payload.
• Crew Module Specifications: The crew module measures 3.7 metres in diameter and 7 metres in height and will house three astronauts, including one woman.
• Space Suits: The astronauts will wear orange space suits designed by the Vikram Sarabhai Space Centre.
• Mission Activities: During their mission, the astronauts will orbit Earth every 90 minutes, witnessing sunrises and sunsets and observing India from space. They will also conduct experiments in microgravity.

About ISRO :

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka, India
• Chairman: S. Somanath

About NASA :

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

International Team of Astronomers, Including IIT Kanpur Professor, Discovers Giant Exoplanet Orbiting Sun-Like Star   

• In a ground-breaking discovery, an international team of astronomers, including Dr. Prashant Pathak, Assistant Professor at the Department of Space, Planetary & Astronomical Sciences & Engineering (SPASE), Indian Institute of Technology (IIT) Kanpur, Uttar Pradesh (UP) has discovered a giant planet orbiting a nearby star similar to the Sun.

Key Highlights :

• Exoplanet Details:The exoplanet, named Epsilon Indi Ab (or Eps Ind Ab), is classified as a ‘super-Jupiter’.
• Its mass exceeds Jupiter’s mass by at least six times, making it significantly larger than any planet in our solar system.
• Discovery Technique: Eps Ind Ab is the first-ever mature exoplanet (a planet beyond our solar system) to be discovered using direct imaging technique.
• Instrumentation:The discovery was made using the James Webb Space Telescope’s (JWST) Mid-InfraRed Instrument (MIRI).
• Host Star:The exoplanet orbits the K5V-type star Epsilon Indi A (also known as HD 209100 or HIP 108870).
• Distance and Temperature:Eps Ind Ab is located 12 light-years away from Earth.
• The planet has a temperature of about -1°C (30°F).
• Orbital Characteristics:The planet’s orbit is 28 times greater than the distance between Earth and the Sun.
• Atmospheric Composition:The planet’s atmosphere has a high metal content and a different carbon-to-oxygen ratio compared to planets in our solar system.

CURRENT AFFAIRS: SPORTS NEWS

Sri Lanka Clinches Maiden Women’s Asia Cup Title with Win Over India

• Sri Lanka won their first Women’s Asia Cup title by defeating India by 8 wickets.
• The final match was held at the Rangiri Dambulla International Stadium.

1. Match Summary:
   • India batted first, scoring 165/6 in 20 overs after winning the toss.
   • Sri Lanka successfully chased the target in the 19th over.
2. Key Performers:
   • Chamari Athapaththu:
     • Scored 61 runs, providing a strong start for Sri Lanka.
     • Named Player of the Tournament for her all-around performance, with 304 runs and three wickets throughout the tournament.
   • Harshita Samarawickrama:
     • Despite dropping two catches, she scored a crucial counter-attacking half-century.
   • Kavisha Dilhari:
     • Played a pivotal role with powerful hits, aiding the successful chase.

Manu Bhaker Ends India’s 12-Year Olympic Shooting Medal Drought with Bronze medal in Paris

• Manu Bhaker won a bronze medal in the 10m air pistol event at the Paris Games.
• She is the first Indian markswoman to secure an Olympic shooting medal.

Breaking the Drought:

• India had not won an Olympic shooting medal since the 2012 London Games.
• The last medals were won by Vijay Kumar (rapid-fire pistol) and Gagan Narang (10m air rifle), both securing bronze.

Remarkable Performance:

• Bhaker’s score: 221.7
• Bhaker, at 22 years old, displayed exceptional resilience to achieve this milestone.

Historical Context:

• Bhaker is the eighth Indian woman to win an Olympic medal.
• This achievement follows a line of Indian women Olympians starting with Karnam Malleswari, the first Indian woman to win an Olympic medal, up to Lovelina Borgohain, the one who preceded Bhaker.

Notable Indian Women Olympians:

• Karnam Malleswari: First Indian woman to win an Olympic medal (weightlifting bronze in 2000).
• Mary Kom: Bronze in boxing (2012).
• Saina Nehwal: Bronze in badminton (2012).
• V. Sindhu: Silver and bronze in badminton (2016, 2020).
• Sakshi Malik: Bronze in wrestling (2016).
• Mirabai Chanu: Silver in weightlifting (2020).
• Lovelina Borgohain: Bronze in boxing (2020).

Lewis Hamilton Wins Dramatic Belgian Grand Prix After George Russell’s Disqualification

• Lewis Hamilton secured victory at the 2024 Formula 1 Rolex Belgian Grand Prix.
• The win came after his Mercedes team-mate George Russell was disqualified.

Disqualification Details:

• George Russell, who initially finished first, was disqualified because his car was found underweight in the post-race inspection.
• A Technical Delegate’s Report confirmed the violation.

Race Dynamics:

• The race featured an intense battle between the Mercedes drivers, Hamilton and Russell.
• Hamilton employed a two-stop strategy, while Russell opted for a single pit stop.

Strategic Battle:

• The differing pit stop strategies led to a thrilling final segment.
• Hamilton closed the gap on Russell but finished just 0.526 seconds behind on the track.

Post-Race Decision:

• Despite crossing the finish line second, Hamilton was declared the winner after Russell’s disqualification.

2024 RACE RESULTS

CURRENT AFFAIRS: IMPORTANT DAYS

World Day Against Trafficking in Persons 2024: July 30

• Every year, World Day Against Trafficking in Persons 2024 is observed on 30th July to build awareness of the anxiety of human trafficking victims and to promote and protect their rights.
• The theme for the 2024 World Day Against Trafficking in Persons is “Leave No Child Behind in the Fight Against Human Trafficking”.
• In 2010, the United Nations General Assembly adopted the Global Plan of Action to deal with trafficking in persons, urging governments all around the world to make coordinated and consistent efforts to defeat this misfortune.
• The plan has a motive to integrate the fight against human trafficking into the broader programs of the United Nations to stimulate development and strengthen security all over the world.
• One of the important provisions in the plan is to establish a UN Voluntary Trust Fund for victims of trafficking including women and children.
• In 2013, the UN General Assembly arranged a high-level meeting to work on the Global Plan of Action.
• The member states took on a resolution A/RES/68/192 and designated 30 July as the World Day against Trafficking in Persons.
• This resolution emphasized that the day was important to “raise awareness of the situation of victims of human trafficking and for the promotion and protection of their rights.”

Daily CA One- Liner: July 30

• The Union Health and Family Ministry’s tobacco cell reported 350 vape-related violations since 2022
• The World Bank’s new B-READY project will replace the Doing Business survey, which was discontinued due to data irregularities in 2018 and 2020
• Prime Minister Narendra Modi, in his latest “Mann ki Baat” radio address, commended the emergence of khadi startups and highlighted the vibrant handloom industry spread across India
• The Ministry of Textiles has announced the establishment of seven Mega Integrated Textile Region and Apparel (PM MITRA) Parks with a total outlay of Rs. 4,445 crore.
• The Town Official Language Implementation Committee-TOLIC (PSU) meeting, hosted by NTPC, took place in
• Nearly two years after their initial notification, insider trading regulations for mutual funds (MFs) will finally come into force on November 1
• Sri Lanka won their first Women’s Asia Cup title by defeating India by 8 wickets.
• Manu Bhaker won a bronze medal in the 10m air pistol event at the Paris Games.
• Public sector banks (PSBs) are expected to receive another two-year extension to comply with Securities and Exchange Board of India’s (SEBI’s) minimum public shareholding (MPS) norms, requiring a minimum public shareholding of 25%.
• Chennai-based conglomerate Shriram Group is set to enter the asset reconstruction (ARC) business during the current financial year and has received approval from the Reserve Bank of India (RBI).
• The Securities and Exchange Board of India (SEBI) has barred Vijay Mallya from accessing the Indian securities market for 3 years.
• The Reserve Bank of India (RBI) has cancelled the license of The Mahabhairab Cooperative Urban Bank Limited., Tezpur, Assam.
• Karnataka Bank has partnered with ICICI Lombard General Insurance Company Limited to offer enhanced insurance solutions and customer benefits to its patrons.
• Tata Power Solar Systems Limited (TPSSL) has partnered with the Bank of India (BOI) to provide easy and affordable financing for rooftop solar installations and electric vehicle (EV) charging stations.
• Kerala is launching the ‘Study in Kerala’ programme to attract international students to its higher education institutions.
• In a significant move towards sustainable energy, Chief Minister Pramod Sawant has launched the ‘Goem Vinamulya Vij Yevjan’ initiative in Goa.
• Manoj Mittal has been appointed as the Chairman and Managing Director (CMD) of the Small Industries Development Bank of India (SIDBI) by the Government of India.
• The Ministry of Home Affairs (MHA) appointed senior IPS officer Hargobinder Singh Dhaliwal as the new Director General of Police (DGP) of Andaman and Nicobar Islands.
• India is set to send an astronaut to the International Space Station (ISS), marking a significant milestone in its space exploration efforts.
• In a ground-breaking discovery, an international team of astronomers, including Dr. Prashant Pathak, Assistant Professor at the Department of Space, Planetary & Astronomical Sciences & Engineering (SPASE), Indian Institute of Technology (IIT) Kanpur, Uttar Pradesh (UP) has discovered a giant planet orbiting a nearby star similar to the Sun.
• Lewis Hamilton secured victory at the 2024 Formula 1 Rolex Belgian Grand Prix
• Every year, World Day Against Trafficking in Persons 2024 is observed on 30th July to build awareness of the anxiety of human trafficking victims and to promote and protect their rights

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