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Current Affairs English

Daily Current Affairs 28th February, 2024

Daily Current Affairs 28 February 2024 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

PM announces names of four astronaut-designates selected to take part in country’s maiden human space flight mission, Gaganyaan
After 40 years, an Indian will go to space. But this time, the time will be Indian, countdown will be Indian, and the rocket will also be Indian,” Prime Minister Narendra Modi said while announcing names of four astronaut-designates selected to fly to Low Earth orbit next year as part of Gaganyaan, the country’s first manned mission to space. PM announces names of four astronaut-designates selected to take part in country's maiden human space flight mission, Gaganyaan

  • The four astronaut designates are Group Captain Prashanth Balakrishnan Nair, Group Captain Angad Prathap, Group Captain Ajit Krishnan and Wing Commander Shubanshu Shukla.
  • The last time an Indian astronaut travelled to space was aboard the erstwhile Soviet Union’s Soyuz T-11 spacecraft four decades ago in 1984.
  • Indian Space Research Organisation’s (ISRO) Gaganyaan mission will seek to demonstrate India’s human spaceflight capability by launching astronauts to Low Earth orbit (LEO) of 400 kms for a three-day mission and bringing them safely to earth with a planned splashdown in Indian sea waters.

India’s First Hypervelocity Expansion Tunnel Test Facility
The Indian Institute of Technology Kanpur (IIT-K) has successfully established and tested India’s first Hypervelocity Expansion Tunnel Test Facility recently.India's First Hypervelocity Expansion Tunnel Test Facility

  • The S2, nicknamed ‘Jigarthanda’, is a 24-meter-long facility located at IIT Kanpur’s Hypersonic Experimental Aerodynamics Laboratory (HEAL) within the Department of Aerospace Engineering.
  • It was indigenously designed and developed over three years with funding and support from the Aeronautical Research and Development Board (ARDB), the Department of Science and Technology (DST), and IIT Kanpur.
  • It is capable of generating flight speeds between 3-10 km/s, simulating the hypersonic conditions encountered during the atmospheric entry of vehicles, asteroid entry, scramjet flights, and ballistic missiles.

PM Modi launches two major initiatives to uplift MSMEs in Indian automotive industry
Prime Minister Narendra Modi  launched TVS Mobility’s open mobility network platform and CII-TVS Mobility Centre of Excellence on Employment and Livelihood in Madurai.PM Modi launches two major initiatives to uplift MSMEs in Indian automotive industry

  • He participated in the Programme ‘Creating the Future – Digital Mobility for Automotive MSME Entrepreneurs’ in Madurai, Tamil Nadu and addressed thousands of Micro, Small and Medium enterprises (MSMEs) entrepreneurs working in the automotive sector. 
  • The TVS Mobility’s open mobility network platform is an open, inclusive and interoperable platform, which will link the various stakeholders of the aftermarket ecosystem including the MSMEs, financial institutions, vehicles and parts manufacturers, skilling and educational institutions and tech start-ups. 
  • The CII-TVS Mobility Centre of Excellence on employment and livelihood is a joint effort of the Confederation of Indian Industry (CII) and TVS Mobility. The Centre of Excellence, headquartered in Madurai, Tamil Nadu and sub-offices across the country, will generate productive livelihood and support the scaling up of MSMEs across various sectors including textiles and food processing, among others much beyond the automotive sector.

NICDC, IIT Delhi join hands to enhance development of greenfield smart cities projects
National Industrial Corridor Development Corporation Limited (NICDC) under Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India and the Foundation for Innovation and Technology Transfer at the Indian Institute of Technology, Delhi (FITT-IITD) signed a Memorandum of Understanding (MOU) at Vanijya Bhawan, New Delhi with an objective to evaluate optimality of locations for development of Greenfield Industrial Smart Cities in India leveraging the principles and framework of PM GatiShakti.NICDC, IIT Delhi join hands to enhance development of greenfield smart cities projects

  • NICDC and FITT-IITD collaborates to assess the optimal locations for developing greenfield industrial smart cities across India by leveraging the spatial & analytical data tools of PM GatiShakti, National Master Plan portal. This initiative aligns with India’s vision to emerge as a global manufacturing hub, emphasizing the importance of data-driven, decision-making in sustainable futuristic urban planning and development.
  • Under the MOU, FITT-IITD will leverage its technological prowess and research capabilities to analyse various factors influencing location optimality, including ease of business, living costs, logistic costs, multi-modal connectivity, ease of living index, living costs, potential of particular industry(s), raw-material availability and sustainability.

Adani setting up South Asia’s largest ammunition, missiles complex in Kanpur; project inaugurated by CM Yogi
Chief Minister Yogi Adityanath inaugurated the sprawling ammunition manufacturing complex of the Adani Group, nestled within the Kanpur node of the UP defence corridor. Adani setting up South Asia’s largest ammunition, missiles complex in Kanpur; project inaugurated by CM Yogi

  • The complex, spreading across 500 acres in Kanpur’s Saadh area, is billed by the Adani group as South Asia’s largest ammunition and missile facility. It will produce ammunitions, artillery shells, and short-range missiles. It began production within 18 months of the land being allocated.
  • It has started rolling out small calibre ammunition, starting with 150 million rounds estimated at 25 per cent of India’s annual requirement.
  • The chief minister highlighted the transformation of the state from the echoes of gunfire before 2017 to its crucial role in bolstering defence manufacturing for self-reliance.

Government launches ‘Mera Pehla Vote Desh Ke Liye’ Campaign in Higher Educational Institutions
The Education Ministry and the Information and Broadcasting Ministry jointly launched a nationwide awareness campaign “Mera pehla vote desh ke liye (my first vote for the country)”, under which various events will be organised in universities, colleges, and higher education institutions to encourage the first-time voters to participate in the upcoming election.Government launches 'Mera Pehla Vote Desh Ke Liye' Campaign in Higher Educational Institutions

  • The main objective of the initiative is to engage and encourage young voters to come out and vote and to convey the importance of voting for the larger good of the nation. The programme will be continued till 6th of March.
  • This campaign aims to foster active participation among the youth in the electoral process, emphasizing the significance of voting for the betterment of the nation.

NIA signs MoU with Thailand’s traditional medicine department for academic collaboration
The National Institute of Ayurveda, Jaipur under the Ministry of Ayush of the Government of India and Department of Thai Traditional and Alternative Medicine of the Ministry of Public Health of the Government of the Kingdom of Thailand signed a Memorandum of Understanding(MoU) on the establishment of an Academic Collaboration in Ayurveda and Thai Traditional Medicine in New Delhi, India at 10th India-Thailand Joint Commission Meeting held at Hyderabad House, New Delhi. NIA signs MoU with Thailand's traditional medicine department for academic collaboration

  • The initiative has been taken to promote, facilitate, and develop academic collaboration in the field of Ayurveda and Thai Traditional Medicine based on equality and mutual benefit of the Participants. 
  • This MoU will facilitate the exchange of experts for research and training programs, academic and technical activities, and conducting research, exchange of information, technologies, and best practices of Traditional Medicine.

PM Modi inaugurates space infrastructure projects of ISRO
Prime Minister Narendra Modi inaugurated 3 major space infrastructure projects of ISRO during his visit to the Vikram Sarabhai Space Centre (VSSC) at Thumba. The Prime Minister also reviewed ISRO’s Gaganyaan human spaceflight programme during his visit. PM Modi inaugurates space infrastructure projects of ISRO

  • These three projects, which will provide world-class technical facilities for the space sector, have been developed at a cumulative cost of about Rs 1,800 crore.
  • VSSC, the lead centre of the Indian Space Research Organisation, is responsible for the design and development of launch vehicle technology.

The projects inaugurated by Modi are
1.Trisonic Wind Tunnel at VSSC:
The Trisonic Wind Tunnel at VSSC produces controlled uniform airflow over scaled models of rockets and aircraft to evaluate their aerodynamic characteristics and designs. It features a test section size of 1.2 meters and can generate speeds ranging from subsonic to supersonic, up to 4 times the speed of sound (Mach number 4.0).
2.Stage Test Facility at ISRO’s propulsion complex in Mahendragiri, Tamil Nadu:
The Mahendragiri unit is a state-of-the-art facility capable of handling large flows of propellants. It stands 51 meters tall and has a flame deflector depth of 30 meters.
3.PSLV Integration Facility at the Satish Dhawan Space Centre(SHAR) in Andhra Pradesh’s Sriharikota:
The PSLV Integration Facilities at Sriharikota were developed to increase launch frequency from the First Launch Pad (FLP) and include Integration Building, Service Building, Rail Track, and associated systems.

Ayush Ministry and RIS Sign MoU to Enhance Academic Cooperation and Explore Potential in Ayush Service Sector
The Ministry of Ayush and Research and Information System for Developing Countries, (RIS) New Delhi signed a Memorandum of Understanding (MoU) at New Delhi. Ayush Ministry and RIS Sign MoU to Enhance Academic Cooperation and Explore Potential in Ayush Service Sector

  • This MoU will bring forth the overview of Ayush Service sector and will serve the continuation of academic cooperation and collaboration with RIS (a Policy Research autonomous institute of Ministry of External Affairs).
  • This Knowledge Partnership, through this MoU, will not only serve to strengthen academic cooperation and collaboration to undertake research, policy dialogue, and publications for national, regional and international, and capacity building in the field of Indian Traditional Medicine, but will also bring out Ayush Service Sector overview in a time bound frame.

Union Minister Rajeev Chandrasekhar Launches ‘Investor Information and Analytics Platform’ Developed by IIT Madras
Union Minister of State for Electronics and IT, Skill Development and Entrepreneurship, and Jal Shakti, Rajeev Chandrasekhar launched ‘Investor Information and Analytics Platform’ developed by IIT Madras. Union Minister Rajeev Chandrasekhar Launches ‘Investor Information and Analytics Platform’ Developed by IIT Madras

  • This platform will act as a one-stop shop for startups to seamlessly access Venture Capitalists (VCs) and investors networks, Govt schemes and several other components of the startup landscape for all stakeholders.
  • This platform has been developed by the Researchers at the Centre for Research on Start-ups and Risk Financing (CREST) of IIT Madras. It will significantly help startup founders, entrepreneurs and Young Indians who intend to build their own devices, services and platforms for India and for the world.

Dharmendra Pradhan launches SWAYAM Plus platform
Union Minister of Education and Skill Development & Entrepreneurship Dharmendra Pradhan launched the SWAYAM Plus platform at an event in New Delhi.Dharmendra Pradhan launches SWAYAM Plus platform

  • The SWAYAM Plus platform which will be operated by IIT-Madras, will offer employability and professional development-focused programmes in partnership with industry players. 
  • SWAYAM, the Massive Open Online Course (MOOC) platform providing educational opportunities to a vast number of learners, was launched by the Union Ministry of Education in 2017 and had an enrolment of 72 lakh by the end of 2023.
  • Developed in collaboration with industry giants such as L&T, Microsoft, CISCO, and others, SWAYAM Plus features innovative elements such as multilingual content, AI-enabled guidance, credit recognition and pathways to employment.

Ministry of Rural Development and NABARD sign MoU to benefit DAY-NRLM’s SHG Women from schemes under NABARD
The Ministry of Rural Development (MoRD), Government of India and National Bank for Agriculture and Rural Development (NABARD) signed a Memorandum of Understanding (MoU) to support services for leveraging the schemes of NABARD to benefit women SHGs of Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM). Ministry of Rural Development and NABARD sign MoU to benefit DAY-NRLM’s SHG Women from schemes under NABARD

  • This MoU with NABARD will add to the multiple support initiatives which the Ministry under DAY-NRLM undertaking to enhance livelihood opportunities of SHG women. This will help enable SHG Didis graduate as entrepreneurs and enhance their incomes to become Lakhpati Didis as envisioned by the Prime Minister. 
  • The MoU would enable graduation of women SHG members as entrepreneurs, facilitate setting up of ‘Not-for-Profit’ Corporate BC entity and deployment of women SHG members as Business Correspondents (BC Sakhi) therein and provide necessary support to State Rural Livelihoods Mission to establish an ecosystem for better financial inclusion and upscaling enterprises run by women SHG members.

Scheme outlay of FAME India Scheme Phase II enhanced from ₹10,000 crore to ₹11,500 crore
The Ministry of Heavy Industries, Government of India, has announced a significant boost for clean mobility by enhancing the scheme outlay of the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) India Scheme Phase II. The scheme’s outlay has been increased from ₹10,000 crore to ₹11,500 crore.Scheme outlay of FAME India Scheme Phase II enhanced from ₹10,000 crore to ₹11,500 crore

  • The government also reduced the electric vehicle (EV) subsidy for electric two-wheelers (e-2Ws) to 15 per cent of the ex-factory price from 40 per cent under the Faster Adoption & Manufacturing of Electric Vehicles (FAME) India scheme phase-II, keeping in mind the increasing penetration of the EV market.
  • This enhancement aims to promote the adoption of electric two-wheelers (e-2W), electric three-wheelers (e-3W), electric four-wheelers (e-4W), e-Buses, and Electric Vehicle Public Charging Stations (EV PCS). The increased allocation demonstrates the government’s commitment to supporting the transition to electric mobility.
  • This move aligns with the government’s ongoing efforts to encourage the widespread adoption of electric vehicles and strengthen the infrastructure for clean transportation.

Cabinet approves extension of Fisheries and Aquaculture Infrastructure Development Fund (FIDF)
The Union Cabinet chaired by Hon’ble Prime Minister Narendra Modi approved extension of Fisheries Infrastructure Development Fund (FIDF) for another 3 years upto 2025-26 within the already approved fund size of Rs 7522.48 crore and budgetary support of Rs 939.48 crore.Cabinet approves extension of Fisheries and Aquaculture Infrastructure Development Fund (FIDF)

  • In order to address the infrastructure requirement for fisheries sector, the union Government during 2018-19 created the Fisheries and Aquaculture Infrastructure Development Fund (FIDF) with a total funds size of Rs 7522.48 crore.  
  • The Government of India provides interest subvention up to 3% per annum for the repayment period of 12 years inclusive of moratorium of 2 years for providing the concessional finance by the NLEs at the interest rate not lower than 5% per annum.
  • The Government of India also provides credit guarantee facility to the projects of entrepreneurs, individual farmers and cooperatives from the existing credit guarantee fund of Infrastructure Development Fund of Department of Animal Husbandry and Dairying.

Cabinet approves Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)
The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the “Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)”, a Central Sector Sub-scheme under the Pradhan Mantri Matsya Sampada for formalization of the fisheries sector and supporting fisheries micro and small enterprises with an investment of over Rs. 6,000 crores over a period of next four (4) years from FY 2023-24 to FY 2026-27 in all States/Union Territories.Cabinet approves Pradhan Mantri Matsya Kisan Samridhi Sah-Yojana (PM-MKSSY)

  • The extension aims to cater to the infrastructure needs of the fisheries sector, ensuring sustained development and growth.
  • The Sub-scheme will be implemented as a Central Sector Sub-scheme under the Central Sector Component of the PMMSY at an estimated outlay of  Rs.6,000 crore consisting of 50% i.e. Rs.3,000 crore public finance including the World Bank and the AFD external financing, and rest 50% i.e.Rs.3,000 crore being the anticipated investment from the beneficiaries/private sector leverage. It will be implemented for 4 (four) years from FY 2023-24 to FY 2026-27 across all the States and UTs.

GetSetUp launches cyber security and fraud hub to educate senior citizens against online scams
In a significant stride towards enhancing digital safety for older adults, GetSetUp, a fast-growing educational community platform dedicated to active agers, has launched Cyber Safety and Fraud Hub.GetSetUp launches cyber security and fraud hub to educate senior citizens against online scams

  • This initiative comes in the wake of escalating online banking frauds, voice cloning scams and other AI-driven fraudulent activities that target vulnerable populations like older adults. 
  • The initiative reflects GetSetUp’s commitment to enabling older adults to live happy, healthy, and more connected lives in the digital age.

India-Japan joint exercise ‘Dharma Guardian’ commences in Rajasthan
The fifth edition of the joint military exercise ‘Dharma Guardian’ between the Indian Army and the Japanese Ground Self-Defense Forces commenced at Mahajan Field Firing Range in Rajasthan, the army said. The exercise will conclude on March 9.India-Japan joint exercise ‘Dharma Guardian’ commences in Rajasthan

  • ‘Dharma Guardian’ is an annual exercise held alternately in India and Japan. The Japanese contingent is being represented by soldiers of the 34th Infantry Regiment, and the Indian Army contingent is being represented by a battalion of the Rajputana Rifles, said army officials. Both sides have 40 military personnel each.
  • The objective of the exercise is to promote military cooperation and enhance joint capabilities to conduct joint operations in semi-urban environments under Chapter VII of the United Nations mandate. The exercise will focus on the basics of high-level physical fitness, joint planning and special weapons skills.

Anurag Singh Thakur announces setting up of Film Certification Facilitation Office in Chandigarh
Union Minister of and Broadcasting Anurag Singh Thakur announced the setting up of a regional facilitation office of the Central Board of Film Certification (CBFC) in Chandigarh, with the objective of promoting ease of doing business for filmmakers of the region. Anurag Singh Thakur announces setting up of Film Certification Facilitation Office in Chandigarh

  • Making this announcement at the closing ceremony of the Chitra Bharati Film Festival in Chandigarh, Thakur said filmmakers of the region can can get the facility of screening of their films and submission of cuts/modifications, without having to go to either  Delhi or Mumbai to get CBFC Certificate for their films. 

India’s first GatiShakti research chair established at IIM Shillong
The Union Minister of Ports, Shipping & Waterways (MoPSW) and Ayush, Sarbananda Sonowal attended the Memorandum of Understanding (MoU) signing ceremony between the MoPSW and the Indian Institute of Management (IIM) to set up India’s first ‘Gati Shakti Research Chair’. India’s first GatiShakti research chair established at IIM Shillong

  • The Chair will spearhead high-quality academic research on multimodal logistics with a North-East focus: building knowledge on multimodal logistics development strategies and practice in the North-Eastern region, facilitate knowledge and innovation for logistical capacity building in the region. 
  • The chair also aims to foster collaboration with global experts in creating and developing knowledge & expertise while strengthening the links between the multimodal logistics research and capacity-building activities with key stakeholders such as the logistics industry, government bodies, local authorities, and other partners and associations.

Manipur CM N Biren Singh inaugurates Maipak Sports Digital Experience Centre to empower athletes
In a move to bolster the mental and physical well-being of Manipuri athletes, Chief Minister N Biren Singh inaugurated the Maipak Sports Digital Experience Centre (MMSDC) at the Khuman Lampak Sports Complex in Imphal, Manipur. 

  • The MMSDC, established through a Memorandum of Understanding (MoU) with Samsung Data System India Pvt Ltd and Abhitech IT Solutions Pvt Ltd, aims to provide various benefits to support athletes in their training endeavours.
  • The MMSDC is poised to revolutionize the way athletes in Manipur train and prepare for competitions. Equipped with digital resources that provide access to information on successful sportspersons from the state, their achievements, and various government schemes for athlete welfare, the centre promises a holistic approach to sports development.

Manipur CM Launches National e-Vidhan Application (NeVA), Making State Assembly the 13th Digital House
Manipur Chief Minister N Biren Singh launched the National e-Vidhan Application (NeVA) in the state Assembly to help the assembly “become more transparent, accessible, accountable and effective in promoting democracy”.Manipur CM Launches National e-Vidhan Application (NeVA), Making State Assembly the 13th Digital House

  • The aim of NeVA is to transform India into “a digitally empowered society and knowledge economy. mNeVA is a user-friendly mobile app of NeVA that is available on Android as well as iOS.
  • NeVA is a member-centric, device-neutral application designed to empower them to manage a variety of house businesses effectively. It does this by storing all member contact information, procedural rules, a list of businesses, notices, bills, starred and unstarred questions and answers, papers laid, committee reports, and more on their tablets or handheld devices, enabling all departments and legislatures to manage it effectively.

Nagaland govt announces universal life insurance scheme
Nagaland Chief Minister Neiphiu Rio announced a fully-funded universal life insurance scheme as he presented the Budget for 2024-25 which did not propose any hike in taxes.Nagaland govt announces universal life insurance scheme

  • Presenting the budget on the second day of the ongoing session of the State Assembly, Rio, who also holds the finance portfolio, said gross receipts are estimated at Rs 23,978.05 crore and the gross expenditures are pegged at Rs 23,727.88 crore. The budget estimate is an increase of Rs 644.22 crore compared to the previous financial year where the amount was at Rs 23,083.66 crore.
  • Among significant measures, the state government announced a fully-funded universal life insurance scheme to mitigate financial hardship due to untimely demise of a family’s breadwinner. The Chief Minister’s Universal Life Insurance Scheme will be fully funded by the state government. This scheme will cover every household in Nagaland and a provision of Rs 15 crore has been provided to pay the cost of premium, 
  • A life insurance coverage of Rs 2 lakh will be given and additionally, accidental insurance coverage of Rs 2 lakh each will also be provided for the breadwinner and three other family members. 
  • The accidental insurance component covers both disability and death. In case of accidental death, the sum insured is Rs 2 lakh per beneficiary, Rs 2 lakh in case of total and irrecoverable loss of both eyes or loss of use of both hands or feet, and Rs 1 lakh for total and irrecoverable loss of sight of one eye or loss of use of one hand or foot.


INTERNATIONAL NEWS

13th Ministerial Conference of WTO held in Abu Dhabi 
The World Trade Organisation’s (WTO’s) 13th ministerial conference (MC13), held in Abu Dhabi, the capital of the United Arab Emirates, is the first in two years.13th Ministerial Conference of WTO held in Abu Dhabi 

  • Comoros and Timor-Leste formally joined the World Trade Organisation (WTO) becoming the 165th and 166th members of the body that oversees global trade and the first new nations to join since 2016. The ceremony took place on the opening day of the WTO’s 13th Ministerial Conference (MC13). 
  • India’s emphasis extended to advocating for flexibility within existing WTO agreements to address concerns specific to developing countries. The delegation, led by India’s Commerce Secretary, Sunil Barthwal, highlighted the imperative to separate long-standing development issues from new trade and industrial policies.
  • Director-General Ngozi Okonjo-Iweala also announced a $50 million initiative to empower female entrepreneurs in developing countries. Director-General Okonjo-Iweala also commended the UAE for its commitment to open trade and its contributions to supporting developing countries.

US, South Korea to promote digital literacy in India toward shared global development goals
The United States and the Republic of Korea solidified their commitment through the signing of a new memorandum of understanding (MOU) in India. US, South Korea to promote digital literacy in India toward shared global development goals

  • Facilitated by their respective international development agencies, the US Agency for International Development (USAID) and the Korea International Cooperation Agency (KOICA), this partnership seeks to propel progress toward shared global development goal. 
  • Under the MOU, USAID and KOICA will leverage their combined capacities and expertise to advance key priorities in India, including women’s economic empowerment, disaster and climate resilience, digital literacy, and opportunities for trilateral cooperation with the Government of India.


BANKING & FINANCE

RBI imposes nearly Rs 3 crore fine on SBI, Canara Bank, and City Union Bank
The Reserve Bank of India (RBI) said it has imposed penalties amounting to almost Rs 3 crore on State Bank of India, Canara Bank, and City Union Bank for violation of regulatory norms.

  • In a statement, the RBI said a penalty of Rs 2 crore has been imposed on the State Bank of India (SBI) for contravention of certain norms related to the Depositor Education Awareness Fund Scheme, 2014.
  • A penalty of Rs 66 lakh has been imposed on City Union Bank Limited for non-compliance with certain directions issued by the RBI on ‘Prudential Norms on Income Recognition, Asset Classification and Provisioning Pertaining to Advances — Divergence in NPA Accounts’ and Know Your Customer Directions.
  • The RBI has also levied a penalty of Rs 32.30 lakh on Canara Bank for non-compliance with certain directions.

Pocket UPI: MobiKwik unveils system for payments without linking bank account
Fintech company MobiKwik introduced a new feature called ‘Pocket UPI’ that enables users to make UPI payments through MobiKwik Wallet without linking their bank account.Pocket UPI: MobiKwik unveils system for payments without linking bank account

  • The company said in a statement that ‘Pocket UPI’ will aid in decluttering bank statements by consolidating all UPI transactions, thereby offering a clearer insight into spending habits.
  • Users can load their Wallet with the amount they need to spend and then top up again as required. The platform supports balance loading through credit cards, debit cards or UPI.


BUSINESS & ECONOMY

Bharatgas Unveils “Pure for Sure” to Revolutionize LPG Delivery Experience
State-run Bharat Petroleum Corporation (BPCL) unveiled its “Pure for Sure” initiative at the India Energy Week 2024 in Goa, a pioneering move aimed at transforming the LPG cylinder delivery system in India.Bharatgas Unveils "Pure for Sure" to Revolutionize LPG Delivery Experience

  • Announced by the minister of petroleum and natural gas Hardeep Singh Puri, the initiative seeks to eliminate inefficiencies in last-mile delivery and significantly improve customer satisfaction.
  • Under this new scheme, BPCL is set to offer Quality & Quantity assurance for LPG cylinders delivered directly to customers, marking a first in the nation. The initiative employs a tamper-proof seal with QR codes on the cylinders, ensuring the product’s integrity from the production plant to the customer’s hands.
  • Upon scanning, a “Pure for Sure” pop-up and a signature tune will provide customers with the cylinder’s gross weight at the time of filling, facilitating verification before acceptance.

IIT Delhi partners Blackstone portfolio company to set up CoE on Applied AI for sustainable systems
R Systems International Limited (a Blackstone portfolio Company), a global leader in digital product engineering and technology solutions, has signed a Memorandum of Understanding (MOU) with the prestigious Indian Institute of Technology Delhi (IIT-Delhi) to further its commitment to AI. IIT Delhi partners Blackstone portfolio company to set up CoE on Applied AI for sustainable systems

  • R Systems will set up a Center of Excellence (CoE) on Applied AI for Sustainable Systems at IIT Delhi, which will include a cutting-edge research lab, the creation of an endowed faculty chair position, and the initiation of merit-based student scholarships. 
  • This initiative underscores the strategic priority of R Systems to promote innovation, enhance new-age skills, and develop deep tech.
  • The work produced by this CoE is expected to enhance the research and development capabilities of both R Systems and IIT Delhi. This strategic investment and partnership mark a significant milestone that will push the boundaries in advanced research and innovation in the field of AI.


APPOINTMENTS

Axis Bank gets RBI nod for appointing Munish Sharda as executive director
Axis Bank received approval from the Reserve Bank of India (RBI) to appoint Munish Sharda as the executive director of the company. Sharda took charge for a period of three years.

  • The 52-year-old banker has served as the group executive—retail assets—and head of Bharat Banking at Axis Bank since September 2021. He was responsible for driving business growth in rural and semi-urban markets across all product offerings.
  • Prior to this, the newly-designated ED was MD and CEO of Future Generali India Life Insurance Co. for over seven years, where he led transformation and growth and scaled up the business. He has had a couple of stints in the consumer goods industry with Blow Plast Ltd. and Larsen & Toubro Ltd.

Justice Ajay Manikrao Khanwilkar appointed as New Lokpal
The President of India, Droupadi Murmu, appointed former Supreme Court judge, justice Ajay Manikrao Khanwilkar as the chairperson of Lokpal.Justice Ajay Manikrao Khanwilkar appointed as New Lokpal

  • The appointment was announced nearly three weeks after a selection committee of the Prime Minister, speaker of Lok Sabha, leader of Opposition in Lok Sabha and the Chief Justice of India, shortlisted his name. 
  • The President also appointed former high court chief justices  – justice Lingappa Narayana Swamy, justice Sanjay Yadav, justice Ritu Raj Awasthi as judicial members. Three others Sushil Chandra, Pankaj Kumar and Ajay Tirkey were appointed as the non-judicial members. 


AWARDS

C-DOT bags 3 awards for its indigenously designed & developed innovative Telecom solutions at 14th Annual Aegis Graham Bell Awards
Centre for Development of Telematics (C-DOT), the premier Telecom R&D centre of the Government of India, strikes a hat-trick by securing top position in three awards at 14th Annual Aegis Graham Bell Awards held at NDMC Convention Centre, New Delhi for its indigenously designed & developed innovative Telecom solutions in various categories. C-DOT bags 3 awards for its indigenously designed & developed innovative Telecom solutions at 14th Annual Aegis Graham Bell Awards
CDOT is declared TOP WINNER in three categories as below:

  • The 1st award was jointly shared with Google India, in the category “Innovation in AI” for its pioneering ASTR Project.
  • Second award belongs to the category “Innovation in Social Good” for its ground breaking CEIR(Central Equipment Identity Register) solution.
  • The 3rd award bagged is for “Innovation in Telecom” category for its Quantum Key Distribution (QKD) product.


 

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