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GK Update

Thu 08 Aug, 2024

National News

Maharashtra approved Logistics Policy 2024

  • The Maharashtra government has approved Logistics Policy 2024 proposing to set up more than 200 logistics parks, complexes, and truck terminals with integrated facilities, which is expected to generate approximately 5,00,000 new job opportunities.

About Maharashtra

  • Foundation Day: May 1st, 1960
  • Highest Peak: Kalsubai
  • Longest River: Godavari
  • Governor: C. P. Radhakrishnan
  • Origin of Krishna River from Mahabaleshwar
  • Bhima river originates from Bhimashankar

Right to Education (RTE)

  • The Centre informed that state governments of Punjab, Telangana, Kerala and West Bengal have not implemented the Right to Education (RTE) Act which is intended to provide free education to poor students.

86th CAA 2002

  • State shall provide free and compulsory education to all children of the age of six to fourteen years.
  • Inserted Article 21A: Right of Children to Free and Compulsory Education (RTE)

Pradhan Mantri Kaushal Vikas Yojana

  • Government Informed that one crore 48 lakh candidates have been trained under the Pradhan Mantri Kaushal Vikas Yojana. The scheme was started in 2015, for imparting skill development training to youth across the country.

About PMKVY

  • Launched in 2015
  • Flagship Scheme of Ministry of Skill Development and Entrepreneurship
  • Objective: To deliver skills to the youth of the country through Short Term Training (STT) and Recognition of Prior Learning (RPL).

NE-RACE

  • North Eastern Council (NEC) under the Ministry of Development of North Eastern Region (MDoNER) in collaboration with North Eastern Development Finance Corporation Limited (NEDFi)  introduced a digital initiative called North Eastern Region Agri-Commodity E-Connect (NE-RACE) to provide market linkage for agricultural and horticultural products from the North Eastern Region (NER) in both fresh and processed forms.

About NEC

  • Chairman of All Zonal Councils: Union Home Minister
  • North Eastern Council, set up under the North Eastern Council Act, 1972
  • Nodal Agency for the economic and social development of the North Eastern Region
  • States in NE: Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim and Tripura.

International News

World Telecommunication Standardization Assembly

  • India is set to host the World Telecommunication Standardization Assembly (WTSA) 2024 from October 15 to 24 at Bharat Mandapam in New Delhi.

International Telecommunications Union (ITU)

Founded: 17 May 1865 HQ: Geneva, Switzerland Secretary General: ​Doreen Bogdan-Martin

Foreign Office Consultations between India and Zimbabwe

  • India and Zimbabwe convened their third Foreign Office Consultations (FOC) in Harare and reviewed bilateral relations. The meeting covered a range of topics, including development partnerships, trade and economic relations, digital technology, agriculture, health, defence, consular matters, and cultural exchanges.

About Zimbabwe

  • Capital: Harare
  • President: Emmerson Mnangagwa
  • Bordering Countries: South Africa, Botswana, Zambia, Mozambique.

Economy

MPC Meeting August 2024

  • The Reserve Bank of India maintained its repo rate at 6.50% due to rising food prices. 
  • The MPC also decided to retain the withdrawal of accommodation stance.

Additional Information

What is Repo Rate?

  • The Rate at which RBI lends money to commercial banks and financial institutions in India against government securities.

What is Liquidity?

  • Liquidity refers to the ease with which an asset or security can be quickly bought or sold in the market without significantly affecting its price.

What is LCR?

  • Liquidity Coverage Ratio (LCR) is the requirement whereby banks must hold an amount of high-quality liquid assets that's enough to fund cash outflows for 30 days.

What is CPI?

  • Consumer Price Index (CPI) measures the average change in prices paid by consumers over a period of time for a basket of goods and services. 

Monetary Policy Committee (MPC): 

  • Works according to RBI Act 1934
  • Chairperson: RBI Governor (Shaktikanta Das)
  • Consist of 6 Members 
  • Required to meet at least 4 times in a year.
  • Quorum Required to hold a meeting: 4 members 

Various Policy Stances

Accommodative

  • An accommodative stance means the central bank is willing to cut the interest rates, to expand the money supply to boost economic growth.

Neutral

  • A ‘neutral stance’ suggests that the central bank can either cut rate or increase rate.

Hawkish

  • A hawkish stance indicates that the central bank is willing to hike interest rates to curb money supply and thus reduce the demand.the central bank’s top priority is to keep the inflation low.

Calibrated Tightening

  • It means the central bank may not go for a rate increase in every policy meeting but the overall policy stance is tilted towards a rate hike.

UPI in Panchayats

  • As of date the Ministry of Panchayati Raj informed that, 1,73, 060 Panchayats are Unified Payment Interface (UPI) enabled, able to collect payments digitally.

About UPI

  • Launched: 2016
  • Owner: National Payments Corporation of India 
  • Single Click 2 Factor Authentication
  • Immediate money transfer through mobile device round the clock 24*7 and 365 days

Science and Tech

ESIC Super Specialty Hospital, Sanathnagar

  • ESIC Super Specialty Hospital, Sanathnagar successfully conducted its first in-house cadaver (deceased patient) organ retrieval, marking a significant advancement in its medical services capabilities and commitment to saving lives.

Defence

 CNS Course to Steer-2024 (CTS-2024)

  • Chief of Naval Staff (CNS) Admiral Dinesh K Tripathi released a document titled "CNS Course to Steer-2024 (CTS-2024)" , highlighting his vision of the Navy for a Vikshit Bharat.

About Indian Navy

  • Estb: 26 Jan 1950 
  • Navy Day: 4 December
  • Motto: “Sam no Varunah”
  • Chief: Admiral Dinesh K Tripathi

INS Tabar

  • Indian Navy’s INS Tabar during her return leg from St Petersburg, Russia conducted a Maritime Partnership Exercise (MPX) with German Navy off Kiel Canal, to strengthen the maritime relations between both the nations.

Additional Info:

  • INS Tabar is the third of the Talwar-class frigates of the Indian Navy.
  • The frigate was commissioned on 19 April 2004 in Kaliningrad, Russia.

Sports

Paris Olympics 2024

  • Wrestler Vinesh Phogat was disqualified from the 50 kg freestyle wrestling for being overweight by a few grams, after she stormed into the Olympic final.  

CAVA Women’s Volleyball Nations League 2024

  • India won the CAVA Women’s Volleyball Nations League final after beating hosts Nepal 3-2 at the Dashrath Stadium in Kathmandu. It is India’s second title in the CAVA Women’s Volleyball Nations League.

Federation Internationale de Volleyball (FIVB)

Founded: April 1947 HQ: Lausanne, Switzerland President: Ary Graça

Awards and Honours

Rashtriya Vigyan Puraskar

  • The Government has announced the Rashtriya Vigyan Puraskar, one of the highest recognitions in the fields of science, technology, and innovation in India.
  • Vigyan Team Award: ISRO-Chandrayaan 3 Team, for their contributions to space science and technology.
  • Vigyan Ratna Award: Professor G. Padmanabhan, for the biological sciences.
  • Vigyan Shri Award: Anandharamakrishnan C, Umesh Varshney, Bhim Singh, Adimurthi Adi, Syed Wajh Ahmad Naqvi, Sanjay Behari, and Rahul Mukherjee
  • Vigyan Yuva Award: Dr. Bappi Paul, Dr. Abhilash, Radha Krishnan Mahalakshmi, Purabi Saikia, Digendranath Swain, Prabhu Rajagopal, and Prashant Kumar.

Person in News

R R Swain

  • The Ministry of Home Affairs (MHA) appointed the Director General of Police (DGP) R R Swain as the full-time DGP of the Union Territory of Jammu and Kashmir.

About Jammu and Kashmir

  • Major Rivers: Indus, Jhelum, Chenab, Shyok
  • State Animal: Kashmiri Stag
  • Abrogation of Article 370: 5th August, 2019
  • Became UT: 31st October 2019
  • Major National Parks: Dachigam, Hemis, Kishtwar, Salim Ali
  • Located between Ranges: Great Himalayas and Pir Panjal Ranges

Rabindranath Tagore

  • The death anniversary of Kabiguru Rabindranath Tagore was observed on 07 August 2024. This day is celebrated on the 22nd day of the Shravan month according to the Bengali calendar.

About Rabindranath Tagore

  • Composer of India’s National Anthem
  • Referred to as "the Bard of Bengal
  • Won Nobel Prize for Gitanjali book, collection of poems.
  • First person from India and the first person from Asia to win the Nobel Prize in 1913.

Today News

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