Important Monthly Current Affairs Capsule September 2024

Important Monthly Current Affairs Capsule – September 2024
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S. No Topics Page No
1. IMPORTANT DAYS 03
2. NATIONAL NEWS 10
3. INTERNATIONAL NEWS 42
4. STATE NEWS 50
5. BUSINESS NEWS 63
6. BANKING AND ECONOMY 74
7. AWARDS AND HONOURS 138
8. APPOINTMENTS & RESIGNATIONS 141
9. MOUS AND AGREEMENT 158
10. RANKING AND INDEXES 165
11. ACQUISITIONS & MERGERS 171
12. DEFENCE NEWS 174
13. SCIENCE & TECHNOLOGY 183
14. SPORTS NEWS 193
15. BOOKS AND AUTHORS 203
16. OBITUARIES 204
IMPORTANT DAYS
National Nutrition Week: 1st to 7th September,2024
o National Nutrition Week is observed annually in India from 1st to 7th September to highlight the
importance of proper nutrition and its impact on a healthy lifestyle.
o National Nutrition Week was first initiated in March 1973 by the American Dietetic Association (now
the Academy of Nutrition and Dietetics) to promote nutrition education and the profession of
dietitians.
World Coconut Day: September 2, 2024
• Celebrated annually on September 2, World Coconut Day aims to highlight the benefits of coconuts
and promote awareness about their importance.
• Major coconut-producing states in India include Tamil Nadu, Karnataka, Kerala, West Bengal, and
Andhra Pradesh.
o Asian and Pacific Coconut Community (APCC), established in 1969 and headquartered in
Jakarta, Indonesia, supports the growth, production, sale, and export of coconuts in Asian
countries.
o In 2009, APCC initiated World Coconut Day to recognise and celebrate the fruit's significance.
Skyscraper Day 2024: September 3
• Date and Significance:
o Skyscraper Day is celebrated on September 3 every year.
o The day marks the birth anniversary of Louis H. Sullivan, known as the 'father of modern
skyscrapers'.
o The world's first skyscraper was the Home Insurance Building in Chicago, completed in 1885.
National Teachers Day 2024: September 5
• In India, every year 5th of September is celebrated as National Teachers Day to contribute to our
teachers.
• The theme for Teacher's Day 2024 is "Empowering Educators for a Sustainable Future,"
• Fifth September is the birth anniversary of Dr. Sarevepalli Radhakrishnan, the former president of
India who was a well-known Teacher, Scholar, and Philosopher.
• Since 1962 every year 5th of September is celebrated as National Teachers Day in India.
International Day Of Charity 2024: September 5
• International Day of Charity is observed on September 5th to promote and encourage charitable
activities around the globe.
• In 2012, the United Nations General Assembly declared the International Day of Charity was
observed on the 5th of September.
• They declared September 5 as an International Day of Charity in order to remember the death
anniversary of Mother Theresa who was awarded the Nobel Prize for Peace in 1979.
International Vulture Awareness Day (IVAD) 2024:
• International Vulture Awareness Day (IVAD) is observed annually on the first Saturday of
September to spotlight the world’s most endangered group of birds—vultures.
• Initiated in South Africa and the United Kingdom, IVAD has been commemorated since
September 2009.
• Vultures, often misunderstood due to their association with death, play a crucial role in
maintaining ecological balance.
International Day of Police Cooperation: September 7

• On September 7, the world observes the International Day of Police Cooperation, honouring the
critical role law enforcement plays in global security.
• The date aligns with the centenary of INTERPOL (International Criminal Police Organization).
INTERPOL, originally known as the International Criminal Police Commission (ICPC), was
founded on September 7, 1923.
• The United Nations General Assembly officially designated this observance on December 16,
2022, and the first celebration took place in 2023, coinciding with INTERPOL’s 100th
anniversary.
World Duchenne Muscular Dystrophy Day: 7th September

• Every year on 7th September, the world observes World Duchenne Muscular Dystrophy Day to
raise awareness about Duchenne muscular dystrophy (DMD), a rare degenerative disease that
progressively weakens muscles, eventually impacting the entire body.
• Duchenne Muscular Dystrophy (DMD) is a genetic disorder caused by a mutation on the X-
chromosome, affecting 1 in 5,000 boys.
• Theme for 2023: "Duchenne: Breaking Barriers"
World Physical Therapy Day 2024: September 8

• Every year 8th of September is observed as World Physical Therapy Day.
• The theme for World Physical Therapy Day 2024 is "Low back pain (LBP) and the role of
physiotherapy in its management and prevention."
• In India, physiotherapy was first started in the year of 1952.
• The first physiotherapy centre was started in Mumbai with the support of the Government and the
support of the World Health Organisation(WHO).
World Literacy Day 2024: September 8

• Since 1967, World Literacy Day or International Literacy Day is observed each year on the 8th of
September.
• The theme for International Literacy Day 2024 is 'Promoting multilingual education: Literacy for
mutual understanding and peace.”
• This day was declared by The United Nations Educational, Scientific, and Cultural Organisation
or UNESCO on 26th October 1966.
World Suicide Prevention Day: 10 September
• World Suicide Prevention Day (WSPD): Observed annually on September 10 since 2003, WSPD
was established by the International Association for Suicide Prevention (IASP) in collaboration
with the World Health Organization (WHO).
• To focus global attention on the issue of suicide, reduce stigma, and raise awareness among
organizations, governments, and the public about suicide prevention.
National Forest Martyrs Day 2024: September 11
• National Forest Martyrs Day is observed annually on September 11th.
• The day honours individuals who sacrificed their lives in the protection of India's forests and
wildlife.
• It aims to raise awareness about forest conservation and recognize the efforts of forest guards,
rangers, and officers.
Hindi Diwas 2024: September 14
• Every year of 14th September is celebrated as a Hindi Diwas or Hindi day.
• After India got its independence, in the year of 1949 there were a lot of discussions to make Hindi
the official language of India.
• In the year of 1953, the first Hindi Diwas was celebrated.
Engineers Day in India 2024: September 15
• Every year 15th September is celebrated as National Engineers Day in India.

• National Engineers Day is celebrated on 15th September in India, in order to pay tribute to our
Indian engineer and Bharat Ratna Sir Mokshagundam Viswesvaraya on his birthday.
• In the year of 1968, the Government of India announced that Sir M. Visvesvaraya’s birth
anniversary was celebrated as Engineers Day in India.
International Day of Democracy 2024: September 15
• The International Day of Democracy is observed every year on the 15th of September.
• The first International Day of Democracy was observed in the year of 2008.
• The first International Conference on Democracy was held by the UN.
World Ozone Day 2024: September 16
• Every year World Ozone Day is observed on 16 September.
• The theme for this year is “Montreal Protocol: Advancing Climate Actions”.
• In 1994, the United Nations General Assembly decided to organize World Ozone Day on the 16th
of September.
World Patient Safety Day 2024: September 17

• Every year September 17 is observed as World Patient Safety Day.
• The World Patient Safety Day Theme in 2024 is "Improving diagnosis for patient safety", to
recognize the crucial role patients, families, and caregivers play in health care safety.
• Though this day was established in 2019, this day was first observed in the year 2021.
World Bamboo Day 2024: September 18
• Every year 18th of September is celebrated as World Bamboo Day.
• the World Bamboo Organization recognized World Bamboo Day in the year of 2009.
• World Bamboo Day was founded by Kamesh Salam, the former president of the World Bamboo
Organization.
• The World Bamboo Organization Headquarters was located in Antwerp, Belgium.
• The 8th World Bamboo Congress was held in Bangkok on 18 September 2009.
World Alzheimers Day 2024: September 21
• Every year World Alzheimers Day is observed on 21st September.
• The theme for World Alzheimer's Day 2024 is "Time to act on dementia, Time to act on
Alzheimer's."
• Alzheimer's disease was first diagnosed in an old German lady in 1901 by Alois Alzheimer, a
German Psychiatrist. This illness was named after the German Psychiatrist.
International Day of Peace 2024: September 21

• International Day of Peace is celebrated on 21st September of every year.
• The International Day of Peace 2024 Theme is “Cultivating a Culture of Peace”.
• The United Nations General Assembly declared the International Day of Peace to strengthen the
ideas of peace.
World Rose Day: September 22
● World Rose Day is observed every year on September 22, dedicated to honouring and
supporting cancer patients globally.
● This day serves as a reminder of the courage and bravery shown by those battling cancer and
their caregivers.
International Day of Sign Languages: September 23
● The International Day of Sign Languages is celebrated annually on September 23 to promote
awareness of sign languages and the rights of deaf individuals.
● This year’s theme is “Sign up for Sign Language Rights.”
● The first celebration took place in 2018, marking a significant step towards recognizing the
linguistic rights of deaf people.
● September 23 was chosen because it commemorates the founding of the World Federation of
the Deaf (WFD) in 1951.
World Rivers Day 2024: September 22
● World Rivers Day is celebrated on the fourth Sunday of September of every year.
● This year World Rivers Day falls on the 22nd of September.
● Theme: ‘Waterways of Life’ ; The theme for World Rivers Day 2024 is ‘Waterways of Life,’
emphasising the essential role rivers play in ecosystems, wildlife, agriculture, and communities.
● This year’s theme highlights the crucial role rivers play in supporting ecosystems, wildlife,
agriculture, and communities.
● The first World Rivers Day was celebrated in 2005, marking a significant global event.
World Pharmacists Day 2024: September 25
● Every year we observe 25th September as World Pharmacists Day.
● This year, the theme of World Pharmacy Day is “Pharmacists: Meeting Global Health Needs”.
● In 2009, at Turkey’s Istanbul, The International Pharmaceutical Federation Council announced

that World Pharmacists Day would be celebrated on 25th September.
● In the year of 1912, the International Pharmaceutical Federation was established on September
25.
Antyodaya Diwas 2024: September 25
● The Antyodaya Diwas is observed every year on 25th September in India.
● The theme of 2024 is “Empowering the Last Person.”
● This day is celebrated on September 25 to mark the birth anniversary of Pandit Deendayal
Upadhyaya.
● Pandit Deendayal Upadhyaya was born on 25th September 1916 in Mathura.
World Contraception Day 2024: September 26
● The World Contraception Day is observed on 26th September of every year.
● This day is observed to spread awareness about the available contraceptive methods.
● This year, 2024, the theme of World Contraception Day is "A choice for all. Freedom to plan,
power to choose."
● The ten international family planning organizations observed World Contraception Day on 26
September 2007 to raise awareness about contraception.
World Environmental Health Day 2024: September 26
● World Environmental Health Day is observed on the 26th of September of every year.
● This day is observed in order to spread awareness about environmental health worldwide.
● World Environmental Health Day was established by the International Federation of
Environmental Health(IFEH) on 26th September 2011.
International Day for the Total Elimination of Nuclear Weapons: September 26
● The International Day for the Total Elimination of Nuclear Weapons is celebrated on September
26th every year to raise awareness about the threat of nuclear weapons and to promote their
elimination.
● Purpose: To raise awareness about the threat posed by nuclear weapons and promote their
elimination.
● Established: Declared by the UN General Assembly (UNGA) in 2013.
World Maritime Day 2024: September 26, 2024
● World Maritime Day, observed annually on the last Thursday of September, This year, the World
Maritime Day is taking place on September 26
● Recognize and honour the contributions of those in the maritime industry, including seafarers,
marine officials, and service agents.
● Theme for 2024 “Navigating the Future: Safety First!”
World Tourism Day 2024: September 27
● World Tourism Day is celebrated annually on 27th September. For 2024, the host country is
Tbilisi, Georgia, and the theme is "Tourism and Peace".
● First Observance: World Tourism Day was first celebrated as an international observance on
27th September 1980 by the United Nations World Tourism Organization (UNWTO).
● World Tourism Day Symbolism : The colour associated with World Tourism Day is blue,
symbolizing peace, the sea, and the sky, which are closely linked with travel and tourism.
World Rabies Day 2024: September 28
● World Rabies Day is celebrated on 28th September of every year.
● This year's World Rabies Day theme is: “Breaking Rabies Boundaries”
● The Global Alliance for Rabies Control (GARC) established World Rabies Day in 2007.
● This day was recognized by the World Health Organization(WHO).
World Heart Day 2024: September 29
● Every year World Heart Day is celebrated on 29th September.
● The heart is the primary organ of the circulatory system. It is located between the lungs, in the
middle compartment of the chest.
● The World Heart Federation (WHF) has announced a powerful theme for the years 2024 to
2026: “Use Heart for Action.”
● In 1999, The World Heart Federation (WFH) along with the World Health Organization (WHO)
established World Heart Day.
● The first celebration of this day took place on 24th September 2000.
International Translation Day 2024: September 30
● International Translation Day is celebrated on 30th September of every year.
● The theme for International Translation Day (ITD) in 2024 is "Translation, an art worth
protecting".
● On 24 May 2017, the General Assembly approved resolution 71/288 and declared September 30
as International Translation Day in order to identify the role of Translators in interconnecting
nations.
● The celebration has been promoted by the International Federation of Translators (FIT) which
was started in the year of 1953.
NATIONAL NEWS
Indian Government Launches 'AgriSure' Fund to Support Agritech Startups
The Indian government has introduced a ₹750 crore (approximately $90 million) fund named 'AgriSure'
to support agritech startups.
The fund aims to provide financial assistance in the form of both equity and debt capital to startups and
agripreneurs in the agriculture sector.
Union Government Sets Up the 23rd Law Commission (2024-2027)
o The Union government has established the 23rd Law Commission for a period of three years, from
September 1, 2024, to August 31, 2027.
o The commission's main responsibilities include identifying obsolete laws for repeal, auditing laws
that impact the poor, and providing recommendations on laws referred by the Law and Justice
Ministry.
o The commission will have a full-time chairperson, four full-time members, Secretaries of the Legal
Affairs and Legislative departments as ex-officio members, and up to five part-time members.
Vishanu Yuddh Abhyas: India's First Comprehensive Pandemic Preparedness Mock Drill
o Under the National One Health Mission (NOHM), a national mock drill named "Vishanu Yuddh
Abhyas" (Virus War Exercise) was conducted from August 27 to August 31, 2024, in Ajmer district,
Rajasthan.
o The exercise aimed to assess pandemic preparedness by evaluating the readiness and response of
the National Joint Outbreak Response Team (NJORT), which includes experts from human health,
animal husbandry, and wildlife sectors.
o A mock zoonotic disease outbreak scenario was created to simulate a real-world outbreak, allowing
stakeholders to test their response capabilities.
Government Extends Interest Equalisation Scheme for Exporters till September 30, 2024
• The government has extended the Interest Equalisation Scheme on pre- and post-shipment
rupee export credit by one more month, now valid until September 30, 2024.
• This extension aims to support the country's outbound shipments.
• The scheme, which offers interest benefits to exporters, was initially set to expire on August 31,
2024.
• It had already been extended for two additional months in June.
Government Poised to Approve Third Phase of FAME Scheme

• The Centre is anticipated to approve the third phase of the Faster Adoption and Manufacturing of
(Hybrid and) Electric Vehicles (FAME) scheme within the next one to two months, according to
Heavy Industries Minister H.D. Kumaraswamy.
• Current Status: The Electric Mobility Promotion Scheme (EMPS) 2024, set to expire at the end of
the month, is being reviewed. An inter-ministerial group is working to address issues identified in
the earlier phases of the FAME scheme.
• Minister’s Statement: Kumaraswamy indicated that the government is addressing suggestions
and issues from FAME-I and FAME-II, with input from the PMO. He expects the new phase to be
cleared within one to two months.
Union Minister Shri Jyotiraditya M Scindia inaugurates Department of Posts Officers’ Conclave 2024
• The Officers’ Conclave 2024, organized by the Department of Posts, was a crucial event to drive
transformation and foster innovation within India’s vast postal network.
• With a rich legacy spanning over 150 years, India Post remains the backbone of communication
in the country.
• The conclave represents a significant step towards redefining its role in the digital era.
NPS Vatsalya Scheme: A New Financial Initiative for Minors

• The NPS Vatsalya scheme, a long-anticipated initiative designed to secure the financial futures
of minors, is set to launch within the next two weeks.
• This new scheme, introduced in the 2024-25 Budget, will be officially unveiled by Finance
Minister Nirmala Sitharaman.
• Key Details of NPS Vatsalya:
o NPS Vatsalya is a tailored version of the National Pension System (NPS) specifically for
minors.
o Parents or guardians can open an NPS account for their children and make regular
contributions until the child turns 18.
Key Differences Between ICAI and NFRA on ISA 600 Adoption

• Discrepancies between the Institute of Chartered Accountants of India (ICAI) and the National
Financial Reporting Authority (NFRA) regarding the adoption of the revised International
Standard on Auditing (ISA) 600.
• Cause: The differences are attributed to a communication gap between the two organizations.
• Resolution: The issue is expected to be resolved through dialogue between ICAI and NFRA.
Government Launches Simplified Pension Application Form 'Bhavishya' for Central Government
Employees
• The government introduced a new, simplified pension application form named ‘Bhavishya’ to
streamline the retirement process for central government employees.
• Launched by Union Minister Jitendra Singh via video conference, the new form, Form 6A,
consolidates nine separate forms into a single, unified document.
1. Availability and Applicability:
o The new form will be available on the Bhavishya and e-HRMS portals.
o It will be accessible to all central government employees retiring from December 2024
onwards.
HAL and SAFHAL to Develop 'Aravalli' Engine for India's Future Multi-Role Helicopters
• Hindustan Aeronautics Limited (HAL), based in Bengaluru, has signed a contract with SAFHAL
Helicopter Engines to jointly design, develop, and produce a new engine named 'Aravalli'.
• The engine will be used in the future 13-tonne Indian Multi-Role Helicopter (IMRH) and its deck-
based version, the 12.5-tonne Deck-Based Multi-Role Helicopter (DBMRH).
o SAFHAL is a joint venture between HAL and the French firm Safran Helicopter Engines.
o The partnership with SAFHAL marks a critical step towards technological self-reliance in India’s
aerospace and defence sector, according to HAL chief C.B. Ananthakrishnan.
Labour Ministry to Launch Revamped Shram Suvidha Portal with AI and ML Integration
o The Labour Ministry is set to launch a revamped, user-friendly version of the Shram Suvidha
Portal by the end of the year.
o The new portal aims to enhance the ease of doing business by simplifying processes for
businesses.
o The upgraded portal will incorporate Artificial Intelligence (AI) and Machine Learning (ML)
technologies to streamline various operations.

o This will facilitate easier filing of registrations and submission of returns required under different
labour laws.
India Joins Indo-Pacific Economic Framework for Prosperity (IPEF) Agreements on Clean and Fair
Economy
• The Union Cabinet has approved India's participation in the Indo-Pacific Economic Framework
for Prosperity (IPEF) agreements focused on creating a clean and fair economy.
• This decision follows the commerce ministry's proposal and marks India's entry into collaborative
efforts on key issues like energy security, climate resilience, and anti-corruption.
• The Union Cabinet has approved India's decision to join two agreements under the IPEF: a clean
economy and a fair economy. This decision comes after India's earlier reservation, which
required domestic approval before joining.
Union Cabinet Approves Semiconductor Unit in Sanand, Gujarat

• The Union Cabinet approved establishing a semiconductor manufacturing unit in Sanand,
Gujarat, by Kaynes Semicon Pvt Ltd.
• This approval aligns with the India Semiconductor Mission under the government’s modified
scheme to boost semiconductor manufacturing in India.
• The project approval comes under the India Semiconductor Mission's modified scheme, which
provides 50% fiscal support for capital investment in setting up semiconductor fabs. The scheme
has a total outlay of ₹76,000 crore.
• The Sanand plant by Kaynes Semicon Pvt Ltd will involve an initial investment of ₹3,300 crore.
Nitin Gadkari Urges GST Reduction on Flex-Fuel Vehicles

• Union Minister Nitin Gadkari suggested that state finance ministers consider reducing the Goods
and Services Tax (GST) on flex-fuel vehicles to 12% during the upcoming GST Council meeting.
• His remarks came during his address at the India Bio-Energy & Tech Expo organised by the
Indian Federation of Green Energy (IFGE).
• Call for Lower GST on Flex-Fuel Vehicles: Gadkari proposed reducing GST on flex-engine
vehicles, cars, and scooters to 12% to encourage the adoption of these eco-friendly alternatives.
Union Cabinet Approves ₹13,966 Crore Schemes for Agriculture and Semiconductor Sector
o The Union Cabinet approved seven schemes worth nearly ₹13,966 crore aimed at enhancing
farmer incomes through technological advancements and modernising existing agricultural
practices.
• Digital Agriculture Mission:
o Outlay: ₹2,817 crore.
o Purpose: To build Digital Public Infrastructure (DPI) for farmers, which includes:
• Other Approved Schemes:
o Crop Science for Food and Nutritional Security:
▪ Outlay: ₹3,979 crore.
▪ Focus: Research and development in plant genetics, improving food and fodder crops, pulses,
oilseeds, and commercial crops.
Cabinet Committee on Economic Affairs Approves Major Railway Projects

o The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi,
has approved three major railway projects with a total estimated cost of ₹6,456 crore.
o The projects will span seven districts across Odisha, Jharkhand, West Bengal, and
Chhattisgarh.
o They will expand the Indian Railways network by approximately 300 kilometers.
Union Cabinet Approves Expansion of Agriculture Infrastructure Fund Scheme

• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved expanding the
Agriculture Infrastructure Fund (AIF) scheme to enhance agricultural infrastructure and support
the farming community.
• The expansion aims to make the AIF scheme more attractive, impactful, and inclusive by
broadening the scope of eligible projects and integrating supportive measures.
▪ Extension of AIF credit guarantee coverage for FPOs through NABSanrakshan Trustee
Company Pvt. Ltd., enhancing financial security and encouraging investments in agricultural
infrastructure.
Centre Plans to Increase Insurance Cover Under PMJJBY and PMSBY Schemes
o The central government is planning to increase the insurance coverage amount under its
flagship schemes—Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri
Suraksha Bima Yojana (PMSBY).
o The proposed increase will raise the coverage from the current ₹2 lakh to ₹5 lakh under both
schemes.
o The increase in coverage aligns with the government’s goal of achieving “insurance for all by
2047.”
o PMJJBY has over 200 million subscribers, while PMSBY enrolments stand at 453.6 million.
Government to Revise 2016 Guidelines on Dividend, Bonus Issues, and Share Buyback by CPSEs
o The Indian government is working to amend its 2016 guidelines regarding dividend payments,
bonus issues, and share buybacks by Central Public Sector Enterprises (CPSEs).
o The revised guidelines are expected to be issued by the finance ministry this month.
o The existing guidelines, titled ‘Capital Restructuring of Central Public Sector Enterprises
(CPSEs),’ were issued by the finance ministry in May 2016 to ensure efficient management of
government investments in CPSEs.
Samunnati to Host 4th FPO Conclave on Sustainable Agriculture in Hyderabad
o Samunnati, a prominent agri-value chain enabler, will host the 4th edition of the Farmer
Producer Organization (FPO) Conclave on September 3-4, 2024, in Hyderabad, Telangana.

o The conclave will focus on 'Sustainable Agriculture Solutions', aiming to empower small-holder
farmers and agribusinesses across over 20 states in India.
o The event will feature over 500 FPO representatives, industry experts, and policymakers who
will discuss and explore innovative, eco-friendly agricultural solutions.
Government Plans National Brand for FPO Products Amid Policy Finalization
• The Union government is finalizing a national policy for Farmer Producer Organisations (FPOs)
and is considering the creation of a national brand for products emerging from the FPO
ecosystem.
• As part of the 10,000 FPO Programme launched in 2020, approximately 9,000 FPOs have
already been formed, involving 20 lakh farmers.
• Over the next two years, the program aims to increase the FPO membership base to 50 lakh
farmers with plans to boost equity infusion to over ₹800 crore.
Defence Acquisition Council (DAC) Approves Rs 1.44 Lakh Crore for Defence Proposals to Boost
Indigenous Manufacturing
• The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved
the Acceptance of Necessity (AoN) for 10 capital acquisition proposals worth Rs 1,44,716 crore.
• 99% of the acquisitions will be sourced from indigenous origins under the Buy (Indian) and Buy
(Indian-Indigenously Designed Developed and Manufactured) categories.
• This decision aligns with the government’s vision of boosting local manufacturing and reducing
dependency on foreign imports.
Maharashtra CM Eknath Shinde Praises National e-Governance Award Winners
• Maharashtra Chief Minister Eknath Shinde commended the winners of the National e-
Governance Awards, referring to them as revolutionaries making lives easier for citizens across
the country.
• He announced at the inauguration of the 27th National Conference on e-Governance in Mumbai.
• Conference Theme: The theme for the two-day event is "Viksit Bharat: Secure and Sustainable
e-Service Delivery."
International Conference "Spectrum of Literacy" Chaired by Shri Sanjay Kumar Ahead of International
Literacy Day 2024
• An international conference titled “Spectrum of Literacy” was chaired by Shri Sanjay Kumar,
Secretary of the Department of School Education and Literacy (DoSEL), at the CIET, NCERT,
New Delhi.
• Organized by the Ministry of Education, this virtual event served as a prelude to International
Literacy Day 2024, which will be celebrated at Vigyan Bhawan, New Delhi.
• The conference brought together global and national experts, educators, policymakers, and
literacy advocates to discuss the evolving dimensions of literacy.
Extension of EV Subsidies and Upcoming FAME-III Program
• Union Heavy Industries Minister H.D. Kumaraswamy has announced that the third phase of the
Faster Adoption and Manufacturing of Electric (and Hybrid) Vehicles (FAME-III) will be introduced
in approximately two months.
• Objective: The new phase aims to continue providing subsidies to support India's electric vehicle
(EV) sector's growth.
Key Initiatives Launched on the Foundation Day of Indian Cyber Crime Coordination Centre (I4C)
• The first Foundation Day of the Indian Cyber Crime Coordination Centre (I4C) was held at Vigyan
Bhavan, New Delhi.
• Union Home Minister Amit Shah was the Chief Guest and launched several key initiatives for the
prevention of cybercrime
• Cyber Fraud Mitigation Centre (CFMC): Aimed at bringing banks, financial institutions, telecom
companies, ISPs, and police on a single platform to prevent cyber fraud. It focuses on identifying
the modus operandi of cybercriminals and preventing online financial crimes through cooperative
federalism in law enforcement.
Cabinet Approves Rs 14,335-Crore Scheme to Boost Electric Mobility in India
• The Indian government has taken a significant step to promote green mobility with the approval
of a new Rs 14,335-crore incentive scheme for the electric vehicle (EV) sector.
• The scheme aims to enhance electric mobility by subsidising electric two-wheelers, three-
wheelers, ambulances, trucks, buses, and charging infrastructure.
• Replacement of FAME: The new PM E-DRIVE scheme replaces the previous FAME (Faster
Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme.
• Budget Allocation: Rs 10,900 crore has been allocated for the PM E-DRIVE scheme, which will
be in effect for two years.
Rural Development Ministry Approves Road Construction Projects in Three States

• The Ministry of Rural Development, under the leadership of Minister Shivraj Singh Chouhan, has
approved a series of road construction projects across three Indian states—Madhya Pradesh,
Maharashtra, and Kerala.
• Madhya Pradesh:
o Roads Approved: 60 roads spanning a total of 152.44 km.
o Scheme: The construction in Madhya Pradesh will be carried out under the Pradhan
Mantri Janjati Adivasi Nyaya Maha Abhiyan.
o Budget Allocation: The total cost for these roads is estimated at Rs 113.58 crore.
• Maharashtra:
o Roads Approved: 117 roads with a total length of 745.286 km.
o Scheme: The roads will be constructed under the Pradhan Mantri Gram Sadak Yojana
(PMGSY).
o Budget Allocation: The estimated cost for these road projects in Maharashtra is Rs 655.66
crore.
• Kerala:
o Infrastructure Approved: 11 bridges.
o Scheme: The construction of these bridges will also be under the Pradhan Mantri Gram
Sadak Yojana (PMGSY).
o Budget Allocation: The project will be carried out at an estimated cost of Rs 55.28 crore.
Union Cabinet Approves Fourth Phase of Pradhan Mantri Gram Sadak Yojana (PMGSY)
• The Union Cabinet has approved the fourth phase of the Pradhan Mantri Gram Sadak Yojana
(PMGSY), the flagship rural roads programme, with a significant outlay of Rs 70,125 crore over
the next five years.
• This phase continues the government's commitment to enhancing rural connectivity across India.
• Total Length of Roads:62,500 kilometers of rural roads will be constructed.
• New Connectivity: This phase aims to connect 25,000 unconnected habitations.
Union Cabinet Approves Modified Scheme for Hydro Electric Projects (HEP) Infrastructure Development
• The Union Cabinet, led by Prime Minister Narendra Modi, has approved a proposal by the
Ministry of Power to modify the scheme for budgetary support for the Enabling Infrastructure for
Hydro Electric Projects (HEP).
• This initiative aims to accelerate the development of hydropower projects across India,
particularly in remote and hilly regions and is part of India's broader goal to achieve 500 GW of
renewable energy capacity by 2030.
Union Cabinet Expands Ayushman Bharat Health Coverage to All Senior Citizens Aged 70 and Above
• In a significant step towards enhancing healthcare access for the elderly, the Union Cabinet has
approved the expansion of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-
PMJAY) to cover all senior citizens aged 70 years or above.
• This move is set to benefit approximately 45 million families, encompassing around 60 million
senior citizens, providing them with free health insurance coverage of ₹5 lakh on a family basis.
India's Push for Semiconductor Manufacturing Gains Momentum with Over $15 Billion in Investments
• India is making significant strides in becoming a global hub for semiconductor manufacturing,
with the government approving investments exceeding $15 billion in the sector.
• This move aligns with Prime Minister Narendra Modi's ambitious goal to expand the country's
electronics sector to$500 billion by the end of the decade.
India Aims for Full Telecom Coverage by Mid-2025 with Expanded BSNL 4G Network Rollout
• Telecom Minister Jyotiraditya Scindia announced that 25,000 villages currently lacking telecom
and mobile internet connectivity will be connected by mid-2025 as part of India's efforts to
achieve "full saturation" in telecom coverage.
• Bharat Sanchar Nigam Limited (BSNL), the state-run telecom operator, is set to roll out its 4G
network across India with the installation of 100,000 telecom towers by mid-2025.
Union Cabinet Approves "Mission Mausam" to Enhance Weather and Climate Prediction
• The Union Cabinet, led by Prime Minister Narendra Modi, has approved"Mission Mausam" with a
significant budget of Rs 2,000 crore over the next two years.
• This ambitious initiative aims to strengthen India’s capabilities in predicting and responding to
extreme weather events and the impacts of climate change.
• Enhance India's ability to predict and manage extreme weather events, including monsoon
variability, cyclones, and other climate impacts.
India's ₹30 Trillion Renewable Energy Investment Strategy: Financial Institutions to Pledge Support
• The Ministry of New and Renewable Energy (MNRE) is actively engaging with financial
institutions, including public and private sector banks, to secure funding for India’s ambitious goal
of installing 500 GW of non-fossil fuel capacity by 2030.
• To meet the substantial funding requirements estimated at ₹30 trillion, these institutions are
being encouraged to commit a portion of their loans to renewable energy projects.
• Funding Goal:
o Total Required: ₹30 trillion
o Target Capacity: 500 GW of non-fossil fuel energy by 2030
Government to Launch Farmers' Registration for Unique ID:
o The Indian government is set to begin the registration of farmers across the country to provide them
with a unique ID similar to Aadhaar.
o Agriculture Secretary Devesh Chaturvedi announced the initiative at the Outlook Agri-Tech Summit
and Swaraj Awards.
o Guidelines for the registration process will be issued soon.
o The registration is set to begin in the first week of October.
o The target is to register five crore farmers by March next year.
o The registration initiative is a part of the government's Rs 2,817-crore Digital
PM Modi to Inaugurate Global RE-INVEST 2024 in Gujarat:

o Prime Minister Narendra Modi will inaugurate the fourth edition of the Global RE-INVEST Renewable
Energy Investors Meet and Expo.
o The event will be held at Mahatma Mandir in Gandhinagar, Gujarat, from September 16 to 18, 2024.
o Organized by the Union Ministry of New and Renewable Energy, the event aims to promote
international cooperation and innovation in the renewable energy sector.
o It serves as a platform for global investors and stakeholders to explore opportunities in the field of
renewable energy.
Information and Broadcasting Ministry organised Khel Utsav 2024
• In honor of National Sports Day 2024, coinciding with the birth anniversary of hockey legend
Major Dhyan Chand, the Ministry of Information and Broadcasting hosted the inaugural “Khel
Utsav 2024” from August 27 to August 30, 2024.
• The event was held at two prominent venues in New Delhi: Major Dhyan Chand Stadium and
Jawaharlal Nehru Stadium.
• Event Highlights
• Dates: August 27 to August 30, 2024
• Locations: Major Dhyan Chand Stadium and Jawaharlal Nehru Stadium, New Delhi
Introduction of BPaLM Regimen for MDR-TB under India's National TB Elimination Program
• In alignment with the Hon’ble Prime Minister’s vision to eliminate tuberculosis (TB) from India by
2025—five years ahead of the global Sustainable Development Goals—the Union Ministry of
Health & Family Welfare has approved the introduction of the BPaLM regimen for treating Multi-
Drug-Resistant Tuberculosis (MDR-TB).
• This novel treatment option is a significant advancement under the National TB Elimination
Program (NTEP).
Amit Shah releases documentary on Mumbai Samachar’s 200-year journey
• Event: Release of the "200 Not Out" documentary celebrating 200 years of the newspaper
Mumbai Samachar.
• Date: September 8, 2024
• Location: Mumbai, Maharashtra
• Chief Guest: Union Home Minister and Minister of Cooperation, Shri Amit Shah
• Other Dignitaries: Chief Minister of Maharashtra, Shri Eknath Shinde
India’s Pioneering Fashion Forecasting Initiative VisioNxt Launched by Textile Ministry

• The Union Ministry of Textiles has launched the VisioNxt web portal to establish India as a global
fashion leader.
• The web portal will use information technology to provide India-specific real-time trend insights
for the Indian fashion industry.
• This service is expected to benefit India's textile and apparel industry greatly.
• It will help establish India as a leader in the global fashion sector and reduce its dependence on
foreign fashion forecasting agencies.
• The VisioNxt web portal was launched by the Union Minister of Textiles, Giriraj Singh, at a
function in New Delhi on 5 September 2024.
Draft Proposal for the Green Hydrogen Certification Scheme of India

• The Ministry of New and Renewable Energy (MNRE) has released a draft proposal for India's Green
Hydrogen Certification Scheme.
• The scheme aims to enhance transparency and accountability in the green hydrogen sector.
• The Bureau of Energy Efficiency (BEE) will serve as the nodal authority.
• BEE will be responsible for accrediting agencies for monitoring, verifying, and certifying green
hydrogen projects.
Prime Minister Modi Chairs First Meeting of Governing Board of Anusandhan National Research
Foundation (ANRF)
• Prime Minister Narendra Modi chaired the first meeting of the Governing Board of the Anusandhan
National Research Foundation (ANRF) at his residence.
• The meeting focused on India's Science and Technology landscape and redesigning research and
development (R&D) programmes.
• The Governing Board decided to launch a hub and spoke programme, pairing universities with
nascent research capabilities with top-tier institutions for mentorship.
First Foundation Day Celebration of Indian Cybercrime Coordination Centre (I4C) and Launch of Key
Initiatives by Union Home Minister Amit Shah
• Union Home Minister and Minister of Cooperation, Shri Amit Shah, will address the first foundation
day celebration of the Indian Cybercrime Coordination Centre (I4C) on September 10, 2024, in New
Delhi.
• The event will focus on launching key initiatives for the prevention of cybercrime in India.
• The Cyber Fraud Mitigation Centre (CFMC) will be dedicated to the nation by Shri Amit Shah.
India’s Achievement in Financial Action Task Force (FATF) Mutual Evaluation

• India will join the Financial Action Task Force’s (FATF) top performers club on September 19,
2024.
• This significant milestone reflects India's strong commitment to curbing money laundering and
terror financing.
• India surpassed major economies like the US, China, Germany, Japan, and Canada by
maintaining higher standards in combating financial crimes.
• India received positive ratings on 37 out of 40 stringent evaluation parameters, a feat achieved
by only three G20 members – the United Kingdom, France, and Italy.
About FATF:
• Established in 1989, FATF is the global watchdog for money laundering and terrorist financing.
• It has 38 member countries and two regional bodies (European Union and Gulf Cooperation
Council), with other countries associated through nine regional groups.
• Multilateral institutions like the World Bank and the United Nations have observer status in FATF.
Union Government's plans to unveil social security plan for gig workers
• The Union government is poised to introduce a social safety net for India’s estimated 7.7 million gig
economy workers.
• This initiative may be unveiled on September 17, coinciding with the completion of 100 days of the
Narendra Modi government’s third term and the Prime Minister’s 74th birthday.
• Revenue Contribution: Aggregators might be required to contribute 1-2% of their revenue to a social
security fund.
• Benefits: The fund will likely provide health insurance and other benefits to gig workers.
Messe Muenchen India’s Major Electronics Event: electronica India & productronica India 2024
• Messe Muenchen India (MMI) is hosting its largest-ever edition of Electronica India and
Productronica India in 2024.
• This event is pivotal for the Indian electronics sector, given the significance of global value chains
(GVCs) in modern manufacturing.
• Global Trade: GVCs account for 70% of global trade.
• India’s Electronics Sector: 75% of India’s electronics exports are reliant on GVCs.
NaBFID Notified as a Public Financial Institution
• The government has designated the National Bank for Financing Infrastructure and Development
(NaBFID) as a "public financial institution" under the Companies Act, 2013.
• This move aims to strengthen the country's infrastructure finance framework and enhance
NaBFID's role in funding large-scale projects.
• The Ministry of Corporate Affairs issued a notification on September 10, 2024, in consultation
with the Reserve Bank of India (RBI), designating NaBFID as a public financial institution under
Section 2 of the Companies Act, 2013.
About NaBFID:
• Establishment: NaBFID is a specialized Development Finance Institution (DFI) set up in 2021
under The National Bank for Financing Infrastructure and Development Act, 2021.
• Objectives: Its key goals include bridging gaps in long-term non-recourse financing for
infrastructure, fostering the development of bonds and derivatives markets, and driving
sustainable economic growth.
ONDC Launches New App to Raise Awareness and Ease Shopping Experience
• The Open Network for Digital Commerce (ONDC) has launched an app named ‘ONDC Network:
How to Shop’ to raise awareness among consumers on utilising the network for shopping.
• Available on Playstore and iOS, this app is a gateway for consumers to discover and access
various shopping applications, also known as ‘buyer apps’.
• The move aligns with ONDC’s goal to achieve 0-40 million monthly transactions by the end of
FY25.
Government Aims to Boost Seafood Exports to ₹1 Trillion and Strengthen Fishery Sector
• Union Minister Rajiv Ranjan Singh announced the goal to increase annual seafood exports from
around ₹60,000 crore to ₹1 trillion.
• No specific timeline was provided for achieving this target.
• Pradhan Mantri Matsya Kisan Samridhi Sah-Yojna was launched.
• The sector supports over 30 million fishers and fish farmers.
• Fish production has risen to 17.545 million tonnes in 2023-24, up from 9.579 million tonnes in
2013-14.
PM Modi to Distribute Financial Assistance for 20 Million Rural Homes Under PMAY-Grameen
• Prime Minister Narendra Modi will initiate the release of the first instalment of central financial
assistance under the Pradhan Mantri Awas Yojana – Grameen (PMAY-G) over the coming days.
• The scheme aims to build 20 million new houses in rural areas over the next five years, in
addition to the 26 million homes already constructed in the last decade.
• The events will commence in Jharkhand on September 15, where PM Modi will distribute
approval letters to 20,000 beneficiaries.
• The functions will culminate on PM Modi's birthday, September 17, marking a significant event in
his tenure.
Commerce Minister Piyush Goyal Launches Two Portals to Enhance Digital Services and Export Credit
Insurance
• Union Commerce and Industry Minister Piyush Goyal introduced two new online portals during the
third Board of Trade meeting.
• These portals aim to ensure timely and transparent service delivery and reduce the need for physical
visits to Commerce Ministry offices.
• Jan Sunwai Portal: An online platform designed to provide information and services, including
grievance redressal.
• This portal features an on-demand videoconferencing facility for addressing trade and industry
issues. Scheduled interactions will also be available, allowing stakeholders to connect with Ministry
offices without physical visits.
PM Modi's Government Approves ₹3 Lakh Crore Infrastructure Projects in 100 Days

• The Prime Minister Narendra Modi-led government has approved infrastructure projects worth ₹3
lakh crore in the first 100 days of its third term.
• The overarching goal is to bolster connectivity, stimulate economic growth, and create job
opportunities.
• The government aims to invest ₹15 lakh crore in infrastructure to drive progress and
development, with a vision for India to become a developed nation by 2047.
• PM Modi laid the foundation stone for the Vadhvan Port project in Maharashtra’s Palghar district,
valued at ₹76,000 crore.
Union Cabinet Approves Rs 10,900 Crore for PM E-DRIVE Scheme to Boost Electric Mobility
• In a boost to green mobility, the Cabinet approved a Rs 10,900-crore incentive for promotion of
electric mobility, including 25 lakh two-wheelers, and another Rs 3,435 crore for uninterrupted
operation of more than 38,000 electric buses across cities and towns.
• PM E-DRIVE Scheme:
o Outlay: ₹10,900 crore
o Duration: 2 years (replacing the FAME scheme)
o Objective: Promote electric mobility by incentivizing electric vehicles (EVs), including two-
wheelers, three-wheelers, e-buses, e-ambulances, and e-trucks.
Spices Board launch ‘CardsApp’ to boost cardamom production

• The Spices Board India has introduced a new mobile application called ‘CardsApp’, aimed at
enhancing cardamom production.
• The launch took place during the Spices Conclave and Buyer-Seller Meet held at the Indian
Cardamom Research Institute in Myladumpara, Idukki.
• The event was inaugurated by K.G. Jagadeesha, Secretary of the Spices Board.
• The Spices Board aims to empower farmers by leveraging technological advancements like
‘CardsApp’ to boost productivity and promote sustainable growth in India’s cardamom production
industry.
India's New Criminal Laws to be Implemented Nationwide in Two Years

• The three new criminal laws will be implemented across the country in two years, said a top
government official, listing the achievements of 100 days of the NDA government.
• New Criminal Laws:
o Bharatiya Nyaya Sanhita: Replaces the Indian Penal Code (IPC) of 1860.
o Bharatiya Nagarik Suraksha Sanhita: Replaces the Code of Criminal Procedure (CrPC) of
1973.
o Bharatiya Saksha Sanhita: Replaces the Indian Evidence Act of 1872.
Prime Minister Narendra Modi Launches Six Vande Bharat Express Trains
• Prime Minister Narendra Modi inaugurated six Vande Bharat Express trains via video conference
from Ranchi.
• Bihar received four of these trains, enhancing connectivity within the state and beyond.
• Train Routes:
o Tatanagar-Patna: Covers 451 km in 7 hours and 15 minutes, excluding Mondays. Stops at
Chandil, Muri, Bokaro Steel City, Gomoh, Parasnath, Koderma, and Gaya.
o Gaya-Howrah: Semi-high-speed service with stops at Koderma, Dhanbad, Asansol, and
Durgapur.
o Varanasi-Deoghar: Connects important pilgrimage sites.
o Bhagalpur-Howrah: Provides Bhagalpur with its first direct link to Howrah, enhancing
connectivity under the Malda division of Eastern Railway.
Launch of Bharat Startup Knowledge Access Registry (BHASKAR): Commerce and Industry Minister
Piyush Goyal
• Commerce and Industry Minister Piyush Goyal launched the Bharat Startup Knowledge Access
Registry (BHASKAR) in New Delhi.
• This interactive online platform aims to centralize and enhance collaboration among key
stakeholders in the entrepreneurial ecosystem.
• Serve as a central hub for startups, investors, service providers, and government bodies to
collaborate and exchange ideas.
• Build the world's largest digital registry for stakeholders within the startup ecosystem.
Government to Cover MTNL’s Bond Interest Payment Due to Financial Shortfall
• The Department of Telecommunications (DoT) has confirmed that the government will once
again cover Mahanagar Telephone Nigam Limited’s (MTNL) upcoming interest payment on
bonds
• The government will cover Mahanagar Telephone Nigam Limited's (MTNL) bond interest
payment due to financial shortfalls.
• This marks the second consecutive instance of government support for MTNL's interest
payments.
• The first occurred in July 2023.
Statistics Ministry to Leverage AI for the Eighth Economic Census in 2025
• The Statistics Ministry plans to use Artificial Intelligence (AI) in the Eighth Economic Census
(EC), scheduled from January to December 2025.
• AI will be used to pre-fill data in survey forms, reducing errors and the time required to complete
the process.
• AI is expected to become a key tool in future government surveys, helping streamline data
collection and analysis.
Indian Government's Rs 6,000-Crore Scheme to Promote Precision Farming
• The Indian government has proposed a Rs 6,000-crore initiative to promote precision farming
through smart technologies like AI, IoT, and drones.
• The Smart Precision Horticulture Programme, under the Mission for Integrated Development of
Horticulture (MIDH), aims to revolutionise Indian agriculture with technology-driven solutions.
• Precision farming, also known as precision agriculture, leverages modern technologies such as
GPS, sensors, drones, AI, and IoT to monitor and optimize crop production.
8th India Water Week 2024: A Global Event for Inclusive Water Development and Management
• President of India, Smt. Droupadi Murmu, will inaugurate the 8th India Water Week (IWW) 2024
on 17th September in New Delhi.
• Union Minister of Jal Shakti, Shri C. R. Paatil, and Minister of State, Shri Raj Bhushan
Choudhary, will also be present.
• The event will witness participation from international water experts, Central and State
Government leaders, academics, NGOs, and civil society representatives.
• The theme of IWW 2024
The theme is “Partnerships and Cooperation for Inclusive Water Development and
Management”, emphasizing the need for cross-sectoral collaboration to achieve sustainable
water management.
ICAR-Central Institute of Fisheries Technology Designated as a Fisheries Incubation Centre

• During the 4th Anniversary Celebrations of the Pradhan Mantri Matsya Sampada Yojana
(PMMSY) in New Delhi, the ICAR-Central Institute of Fisheries Technology (ICAR-CIFT) was
officially designated as a Fisheries Incubation Centre under PMMSY.
• The announcement was made in the presence of key dignitaries, including:
• Shri Rajiv Ranjan Singh, Union Minister of Fisheries, Animal Husbandry & Dairying, and Minister
of Panchayati Raj
• Prof S. P. Singh Baghel and Shri George Kurian, Union Ministers of State for Fisheries and
related ministries.
ICAI Approves AQMM 2.0 for Enhanced Audit Quality
• The Institute of Chartered Accountants of India (ICAI) has officially approved the second version
of its Audit Quality Maturity Model (AQMM 2.0).
• This updated model will be mandatory for audit firms engaged with specific public interest
entities, including listed companies, banks, and insurance companies.
• Applicability: AQMM 2.0 will apply to audit firms auditing listed entities, banks, and insurance
companies. Co-operative and multi-state co-operative banks are excluded.
• Purpose: The AQMM 2.0 is part of a broader initiative to enhance audit quality in response to
recent corporate fraud incidents and the role of statutory auditors in detecting malpractices.
India to Host Second Edition of Global Food Regulators Summit
• India is set to host the second edition of the Global Food Regulators Summit from September 19-21,
2024, in New Delhi.
• Organized by the Food Safety and Standards Authority of India (FSSAI) under the Union Ministry of
Health and Family Welfare, the event aims to bring together international experts and regulators to
discuss critical food safety regulations.
• The summit will focus on fostering international cooperation on food safety regulations.
Enhanced Credit Guarantee for Women-Owned MSMEs Under CGTMSE Scheme

• Union Minister Jitan Ram Manjhi announced a significant policy change that will benefit women-
owned micro and small enterprises (MSMEs) by providing enhanced credit guarantee coverage
under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.
• This adjustment was approved by the CGTMSE Board.
• Enhanced Credit Guarantee Coverage:
o New Coverage: 90%
o Previous Coverage: 85%
o Beneficiaries: Expected to impact 27 lakh women-led MSMEs.
Union Cabinet Approves National Centre of Excellence (NCoE) for AVGC-XR in Mumbai
• The Union Cabinet has approved the establishment of the National Centre of Excellence (NCoE)
for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai.
• This project aims to promote India's AVGC sector and position the country as a global content
hub.
• The centre will be formed as a Section 8 Company under the Companies Act, 2013.
• The Federation of Indian Chambers of Commerce & Industry (FICCI) and the Confederation of
Indian Industry (CII) will partner with the Government of India for this initiative.
Union Cabinet Approves One Nation One Election Proposal

• The Union Cabinet has taken a significant step towards implementing One Nation One Election by
clearing the proposal for simultaneous elections to the Lok Sabha and state Assemblies.
• This development follows the recommendations of a high-level committee chaired by former
president Ram Nath Kovind, whose report was presented to the Cabinet.
Amit Shah to Launch Key Dairy Sector Initiatives, Including White Revolution 2.0
• Union Cooperation Minister Amit Shah is set to unveil three significant initiatives to transform the
Indian dairy sector.
• These include White Revolution 2.0, and measures to improve financial access for dairy farmers
through micro-ATMs and Rupay-Kisan Credit Cards.
• NDDB will initially fund the White Revolution 2.0, with further support expected from the National
Programme for Dairy Development 2.0.
• Additionally, the government has signed MoUs for related projects such as organic produce
procurement and maize hybrid development for ethanol production.
Union Cabinet Approves Pradhan Mantri Janjatiya Unnat Gram Abhiyan for Tribal Upliftment
• The Union Cabinet has given the green light to the Pradhan Mantri Janjatiya Unnat Gram
Abhiyan, a scheme aimed at improving the socio-economic conditions of tribal communities in
India.
• This initiative will cover approximately 63,000 villages across tribal-majority areas and aspirational
districts, benefiting over 5 crore tribal people.
Total Outlay and Funding:
• Total Outlay: ₹79,156 crore.
• Central Share: ₹56,333 crore.
• State Share: ₹22,823 crore.
Union Cabinet approves Rs. 35,000 crore continuation of PM-AASHA schemes to support farmers and
control price volatility
• The Union Cabinet has approved the continuation of the Pradhan Mantri Annadata Aay
Sanrakshan Abhiyan (PM-AASHA) scheme, with a financial allocation of ₹35,000 crore for the
15th Finance Commission cycle, which extends until 2025-26.
• The scheme now consolidates the Price Support Scheme (PSS) and the Price Stabilization Fund
(PSF), along with other components, to create a unified program for better price stabilization and
farmer support.
Union Cabinet Approves Chandrayaan-4 and Venus Orbiter Mission (VOM)

• The Union Cabinet cleared the new moon mission Chandrayaan-4 and approved the
development of the Venus Orbiter Mission (VOM) as part of the government’s vision to explore
and study the Earth’s closest planet.
o Objective: To develop and demonstrate technologies for a lunar return mission, including landing
on the moon, collecting lunar samples, and returning them to Earth.
o Cost: Rs 2,104.06 crore.
Government Approves ₹24,474.53 Crore Subsidy for Phosphatic and Potassic (P&K) Fertilizers for Rabi
2024-25
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved a subsidy of ₹24,474.53
crore on Phosphatic and Potassic (P&K) fertilisers for the Rabi season 2024-25 (October 2024 to
March 2025).
• This decision ensures the availability of fertilisers at affordable and subsidized prices to farmers.
• The subsidy falls under the Nutrient Based Subsidy (NBS) scheme, operational since April 1,
2010.
Ministry of Labour & Employment Directs Registration of Gig Workers on e-Shram Portal
• In a significant step toward ensuring social security for gig and platform workers, the Ministry of
Labour & Employment (MoLE) has directed platform aggregators to register their workers on the
e-Shram portal.
• This initiative aims to provide essential social security protections tailored to the unique needs of
this workforce.
• Union Labour Minister Mansukh Mandaviya has set a target for onboarding workers on the e-
Shram portal within the next three months. This registration is vital for accessing various
government benefits.
First Anniversary of PM Vishwakarma Scheme:
● The Ministry of Skill Development and Entrepreneurship (MSDE) will be celebrating the 1st
Anniversary of the PM Vishwakarma Scheme on September 20, 2024.
● The scheme, launched by Prime Minister Narendra Modi on September 17, 2023, focuses on
enhancing traditional artisans' skills (Vishwakarmas) by providing them with modern tools,
techniques, and credit support for expanding their businesses.
● The ultimate goal is to bring Samman (respect), Samarthya (capability), and Samriddhi
(prosperity) to the Vishwakarmas.
● Objective: To instil a culture of disciplined saving and secure long-term financial stability for
minors.
● Target Audience: Minors up to the age of 18.
● Administration: Regulated by the Pension Fund Regulatory and Development Authority (PFRDA).
● Minimum Investment: ₹1,000 per month with no upper limit.
Prime Minister Narendra Modi's Upcoming Visit for the Quad Summit:
● Prime Minister Narendra Modi is set to attend the Quad Leaders’ Summit in Wilmington,
Delaware, from September 21 to 23, 2024.
● The visit underscores critical themes such as the development of the Indo-Pacific region and the
pursuit of sustainable development goals, as stated by Foreign Secretary Vikram Misri.
● India and the US will sign two agreements during the bilateral meeting between PM Modi and
President Joe Biden on the sidelines of the summit.
● The agenda includes a review of the Comprehensive Global Strategic Partnership and
discussions on the Indo-Pacific Economic Framework (IPEF) and the India-US Drug Framework.
● After the Quad Summit, PM Modi will attend the Summit of the Future at the United Nations,
themed ‘Multilateral Solutions for a Better Tomorrow’. India will advocate for inclusive and
equitable sustainable development, focusing on the Global South's aspirations.
Launch of Expanded Ayushman Bharat-PMJAY and U-Win Portal
● Prime Minister Narendra Modi is set to officially launch the expanded Ayushman Bharat-Pradhan
Mantri Jan Arogya Yojana (AB-PMJAY) scheme and the vaccination tracking portal U-Win, as
announced by Health Minister J.P. Nadda.
● AB-PMJAY Expansion:
o The scheme will benefit approximately 60 million eligible citizens aged 70 and above across
45 million families.
o It has been expanded to cover all senior citizens aged 70 and above, with no income cap.
o Provides a cashless and paperless benefit of Rs 5 lakh per annum per family for
hospitalization in empanelled hospitals across India.
● Current Coverage:
o Over 354 million citizens have been covered under the scheme, receiving PMJAY cards for
health insurance.
● U-Win Portal:
o The U-Win vaccination management portal is currently operational on a pilot basis, with 64.6
million beneficiaries registered.
o The expanded AB-PMJAY will be implemented in October 2024.
Government Advisory on Tobacco-Free Educational Institutions
● In a significant initiative to curb tobacco use among youth, the Secretaries of the Union Ministry
of Education and the Ministry of Health & Family Welfare have jointly issued an advisory to all
States and Union Territories.
● This advisory calls for the rigorous implementation of the Tobacco-Free Educational Institution
(ToFEI) manual, under the Cigarettes and Other Tobacco Products Act (COTPA), 2003.
● Focus on Youth: It highlights alarming statistics from the Global Youth Tobacco Survey (GYTS)
2019, revealing that 8.5% of school students aged 13 to 15 in India consume tobacco. Notably,
over 5,500 children start using tobacco daily, and 55% of lifelong users initiate the habit before
the age of 20.
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Integration of EPFO and e-Shram Databases to Track Workforce Formalisation
● The Union Labour Ministry is set to integrate the databases of the e-Shram portal and the
Employees Provident Fund Organisation (EPFO) to monitor better and understand the trends in
workforce formalisation.
● This move is a crucial step in tracking the transition of workers from the unorganised sector to the
formal sector and vice versa.
● By linking these databases, the government aims to collect real-time data that will assist in the
design of more targeted welfare policies.
● Objective: To observe real-time movements between the unorganised and formal sectors and to
shape welfare policies accordingly.
● The e-Shram database, which includes 300 million unorganised workers, is being integrated with
various central and state welfare schemes.
● Ten central schemes have already been integrated, including:
o PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi)
o Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)
o Pradhan Mantri Awas Yojana (PMAY) Gramin and Urban
o National Career Service portal
o Pradhan Mantri Shram Yogi Maandhan
o National Disability and Widow Pension Schemes
o PM Matisya Sampada Yojana (PMMSY)
o Skill India Digital Hub (SIDH)
Monthly Labour Force Surveys (PLFS) to be Launched by MoSPI from January
● In response to the increasing demand for more frequent labour market data, the Ministry of Statistics
and Programme Implementation (MoSPI) will introduce monthly Periodic Labour Force Surveys
(PLFS) for both rural and urban areas starting January 2025.
● This development aims to provide more timely and frequent insights into the labour force across
India.
● The PLFS was launched in April 2017 by the NSSO under MoSPI to provide details on labour force
indicators such as Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR), and
Unemployment Rate (UR).
● Currently, PLFS rural data is released annually, while urban PLFS data is released quarterly with an
annual report
India Announces $7.5 Million Support Package for Cervical Cancer
● During the Quad Cancer Moonshot event, Prime Minister Narendra Modi announced a $7.5 million
support package for sampling kits, detection kits, and vaccines to aid countries in their fight against
cervical cancer.
● This announcement was made at the Quad Leaders’ Summit in Wilmington, Delaware, hosted by
U.S. President Joe Biden.
Key Highlights:
1. Support Package Details:
o $7.5 million allocated for sampling kits, detection kits, and vaccines.
o Emphasis on India’s experience and expertise in cancer care.
2. The U.S. Embassy in New Delhi facilitated the inaugural U.S.-India Cancer Moonshot Dialogue,
focusing on enhancing biomedical research cooperation and developing global health solutions.
Mumbai's Road Network Transformation: A ₹58,000 Crore Ring Road Project
● The Mumbai Metropolitan Region Development Authority (MMRDA) has initiated a transformative
plan to enhance Mumbai's road network through a ₹58,000 crore project that aims to construct a
series of ring roads.
● This initiative is designed to alleviate the city’s notorious traffic congestion and improve travel times,
ultimately reshaping Mumbai's transport landscape over the next five years.
● Construction of over 90 kilometres of new roads, bridges, and tunnels to create a comprehensive
network around Mumbai.
● The project involves collaboration between MMRDA, Brihanmumbai Municipal Corporation (BMC),
Maharashtra State Road Development Corporation (MSRDC), and National Highways Authority of
India (NHAI).
● Key Projects Included:
o Versova-Bandra Sea Link
o Versova-Dahisar and Mira Bhayander-Dahisar Link Road

o Alibaug-Virar Multi Modal Corridor
o Vadodara-Mumbai Expressway
Cabinet Approves Centrally Sponsored Wildlife Conservation Scheme
● The Cabinet, during its meeting, approved a significant centrally sponsored scheme focused on
wildlife conservation, as announced by the Environment Ministry.
● This initiative includes critical components like Project Tiger, Project Elephant, and Development of
Wildlife Habitat.
Key Components of the Scheme:
● Project Tiger: ₹1,575 crore allocated
● Project Elephant: ₹182.58 crore allocated
● Development of Wildlife Habitat: ₹845.4 crore allocated
Objectives:
● To boost technological interventions in wildlife habitats over the current and next financial year.
● To ensure the dual growth of economy and ecology, emphasizing government commitment to
wildlife conservation.
ANIMATE 2024: Fostering Creativity Through 2D Animation Hackathon
● ANIMATE 2024, a 2D animation hackathon organised by FOSSEE, IIT Bombay, in partnership with
Whistling Woods International, concluded with an award ceremony at the Whistling Woods campus.
● Participants from across the country, including rural areas, participated in the hackathon.
● Organizer: FOSSEE, IIT Bombay in collaboration with Whistling Woods International
● Concluded on: September 20, 2024
● Location: Whistling Woods Campus, Mumbai
Key Highlights:
● Theme: "Celebrating India's Innovation"
● Participation: Over 5,000 students from across India, including rural areas, took part in the 2D
animation hackathon.
Prime Minister Address at the UN Summit of the Future
● Prime Minister Narendra Modi is set to address the UN Summit of the Future in New York, marking
the final day of his three-day visit to the U.S.
● This comes a day after the UN General Assembly approved a 42-page plan to address global issues
like climate change, AI, war, inequality, and poverty.
Summit Highlights:
● Theme: “Multilateral Solutions for a Better Tomorrow”
● Key Attendees: World leaders such as Iran’s Masoud Pezeshkian, Ukraine’s Volodymyr
Zelenskyy, U.S. Secretary of State Antony Blinken, and Russian Deputy Foreign Minister Sergey
Vershinin.
MGNREGS Allocation for FY25: Current Status and Future Outlook
● The national rural job guarantee scheme that gives millions of the poorest Indians employment is
unlikely to see a higher allocation in FY25, citing government hopes of improving the rural economy
this year on the back of better rains.
● Scheme: Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS)
● Purpose: Provides guaranteed wage employment for the poorest households in rural India.
Key Points:
● Current Allocation: The budget for FY25 allocates ₹86,000 crore for MGNREGS.
Employment Trends:
● Current Data (April 1 - September 23, 2024):
o Average days of employment per household: 33.93 days (compared to 52.08 days in
FY24).
o Total households employed under MGNREGS: 44.3 million (compared to 60 million in
FY24).
India's 100-Day Power Plan: Thermal Capacity Expansion and Future Energy Goals
● A total of 12.8 GW of thermal power capacity has been awarded during the first 100 days of the
new National Democratic Alliance (NDA), according to Pankaj Agarwal, secretary to the Union
Ministry of power.
● Thermal Power Capacity Expansion:
o A total of 12.8 GW of new thermal power capacity has been awarded for construction
within the first 100 days of the new National Democratic Alliance (NDA) government.
o 28.4 GW of the targeted 80 GW additional capacity by FY32 is already under construction.
● Future Targets:
o The government is committed to adding 80,000 MW of power capacity, with 28,400 MW
already under construction and 12,800 MW awarded recently.
o The plan, to be launched soon, will outline a strategy to meet a peak power demand of
425 GW by 2030 and 458 GW by 2032.
o The transmission network will need to expand from 4.85 lakh circuit kilometers (ckm) in
2024 to 6.48 lakh ckm by 2032.
● Financial Commitment:
o The cost of implementing the National Electricity Plan is estimated at Rs 9.15 lakh crore.
This will help meet rising electricity demand and integrate renewable energy and green
hydrogen into the grid.
President Droupadi Murmu to Inaugurate the 16th ASOSAI Assembly in New Delhi
● President Droupadi Murmu will inaugurate the 16th Assembly of the Asian Organization of Supreme
Audit Institutions (ASOSAI) in New Delhi.
● The assembly will focus on the evolving role of Supreme Audit Institutions (SAIs) in promoting
transparency and accountability.
1. Chairmanship of ASOSAI:
o Girish Chandra Murmu, the Comptroller and Auditor General (CAG) of India, will assume
the ASOSAI chair for the term 2024-2027.
o His leadership is expected to drive advancements in public auditing and strengthen
governance frameworks across Asia.
o The assembly, hosted by the CAG of India, will be held from September 24-27, 2024, with
over 200 delegates from 42 countries and international organizations participating.
1. A one-day symposium will address the theme: “Digital Public Infrastructure and
Gender Divide – Issues of Inclusion and Accessibility”, exploring how technology
can reduce gender disparities in accessing public services.
o Historical Significance of ASOSAI:
1. ASOSAI was founded in 1979 with 11 member institutions and has grown to include
48 Supreme Audit Institutions (SAIs).
2. ASOSAI is a regional group within the International Organization of Supreme Audit
Institutions (INTOSAI).
3. The first ASOSAI Assembly took place in New Delhi in May 1979; this year's event
continues the legacy.
FCRA Licence Cancellation of International Cooperative Alliance and Related NGOs
● The Union Home Ministry has cancelled the FCRA licence of the International Cooperative Alliance
(ICA) due to alleged violations of rules.
● ICA, established in 1895, represents over 1 billion members worldwide in the cooperative sector.
● 10 foreign donors from Australia, America, and Europe working in fields like climate change,
environment, and child rights have been placed on the MHA's watchlist.
● The Reserve Bank of India (RBI) instructed banks to seek MHA permission before clearing funds
from these donors.
FCRA Amendment Act, 2020
Key Amendments:
1. Public Servants Restriction:
o Public servants are prohibited from receiving foreign contributions.
2. Designated Accounts:
o All foreign contributions must be deposited in designated State Bank of India accounts in
New Delhi.
3. Administrative Expenses Cap:
o NGOs' administrative expenses must not exceed 20% of total foreign funds (previously
50%).
India Joins US-Led Minerals Security Finance Network to Strengthen Critical Mineral Supply Chains
● India has joined the Minerals Security Finance Network initiated by the United States.
● The network promotes cooperation, information exchange, and co-financing among participating
institutions from the Indo-Pacific and Europe.
Objective of the Network:
o It aims to advance secure, diverse, and sustainable supply chains for critical minerals essential
to global industries.
o The network is a part of the Minerals Security Partnership, which was established in 2022 with
13 countries and the European Commission.
Delhi Government Plans to Extend EV Policy Till March 2025
● Delhi’s Electric Vehicle (EV) policy is set to be extended until March 2025 as directed by Transport
Minister Kailash Gahlot.
● The proposal will be submitted for Cabinet approval, ensuring the continuation of subsidies and
perks like road tax exemption for EV buyers.
● Development of EV Policy 2.0:
o A new version, EV Policy 2.0, is currently being drafted and is expected to be finalized within
2-3 months.
o The existing policy, initially set to expire in August 2023, has already been extended and will
remain active to avoid disruption for EV buyers.
Ship-Building and Repair Clusters in Five States, Major Maritime Developments Announced
● The Ministry of Ports, Shipping and Waterways (MoPSW) announced the establishment of ship-
building and repair clusters in five states: Gujarat, Andhra Pradesh, Maharashtra, Kerala, and
Odisha.
● These clusters aim to enhance the strategic importance of India's shipbuilding and ship repair
industry.
Container Handling Projections:
o Over the next five years, container handling capacity across Indian ports is expected to reach
40 million TEUs (Twenty-foot Equivalent Units).
o This expansion is projected to create 2 million job opportunities.
o Jawaharlal Nehru Port Authority (JNPA) will increase its capacity from 6.6 million TEUs to 10
million TEUs, becoming the first Indian port to reach this milestone.
Prime Minister Narendra Modi's Visit to Pune, Maharashtra
● Prime Minister Narendra Modi visit Pune in Maharashtra.
● He will inaugurate, lay the foundation stone, and dedicate to the nation various projects worth over
22 thousand 600 crore rupees
Ministry of Textiles introduces Quality Control Order for Medical Textiles to enhance Public Health and
Safety
● The Ministry of Textiles has announced the Medical Textiles (Quality Control) Order, 2023, which will
come into effect on October 1, 2024.
● This landmark initiative aims to establish stringent quality standards for critical medical textile
products.
Prime Minister Narendra Modi unveiled three advanced supercomputers named Param Rudra
● Prime Minister Narendra Modi unveiled three advanced supercomputers named Param Rudra as
part of India's National Supercomputing Mission.
Government to Launch Digital Portal for Unclaimed Shares and Dividends by 2025
● To expedite the refund process for unclaimed shares and dividends, the government is developing
an integrated digital portal, expected to be operational by early 2025.
● This initiative aims to simplify searching for and claiming lost shares, improving efficiency and
accessibility for rightful claimants.
Launch of India-Specific Fashion Initiatives: "Paridhi 24×25" and VisioNxt
● Union Minister of Textiles, Shri Giriraj Singh, and Union Minister of State for External Affairs &
Textiles, Pabitra Margherita, launched several significant initiatives to enhance India’s fashion and
textile sectors, including:
● "Paridhi 24×25" Fashion Trend Book
● VisioNxt Bilingual Web Portal
● AI Taxonomy E-Book
● The event attracted over 150 industry leaders from fashion, textiles, and retail, along with
prominent craftsmen and weavers.
Government’s Borrowing Plan for H2 FY 2024-25
● The central government has set a borrowing target of Rs 6.61 lakh crore for the second half (H2) of
the financial year 2024-25.
● This borrowing strategy aims to address revenue gaps and stimulate economic growth.
Ministry of Tourism Announces Winners of the Best Tourism Villages Competition 2024
● On 27th September 2024, in celebration of World Tourism Day, the Ministry of Tourism,
Government of India revealed the Best Tourism Villages Competition 2024 winners.
● Launched in 2023, this competition highlights villages that exemplify cultural and natural
preservation, community-based values, and sustainability.
Inauguration of Oxygen Bird Park (Amrit Mahotsav Park) by Union Minister Nitin Gadkari
● Union Minister for Road, Transport and Highways, Shri Nitin Gadkari, is set to inaugurate the
Oxygen Bird Park (Amrit Mahotsav Park) located on the Nagpur-Hyderabad National Highway 44
in Nagpur, Maharashtra.
● Area: Total area of 8.23 hectares, with 2.5 hectares dedicated to social forestry.
● Initiative by: National Highway Authority of India (NHAI), situated at Jamtha Clover Leaf along the
Nagpur-Hyderabad Highway.
Union Textiles Minister Shri Giriraj Singh says the roadmap set for the textiles industry to grow to
US$350 bn by 2030
● India aims to grow its textile industry to $350 billion by 2030, up from approximately $164 billion
currently, with an expected creation of 4.5 to 6 crore jobs.
● Textile Minister Giriraj Singh made this announcement during the ministry’s 100-day program.
57th Executive Committee Meeting of NMCG approves Projects worth ₹1,062 Crore
● The 57th Executive Committee (EC) meeting of the National Mission for Clean Ganga (NMCG),
chaired by Shri Rajeev Kumar Mital, approved various projects totalling ₹1,062 crore aimed at
conserving and cleaning the Ganga River, alongside initiatives for Mahakumbh 2025.
Key Approved Projects
1. Katihar, Bihar
o Project Cost: ₹350 crore
o Focus: Improvement of drainage and sewage management.
o Components:
▪ 35 MLD STP in Rojitpur with structures to tap four drains.
▪ 20.5 MLD STP in Sharifganj, tapping five drains.
o Model: DBOT (Design, Build, Operate, and Transfer) with a 15-year operation and
maintenance commitment.
2. Aligarh, Uttar Pradesh
o Project Cost: ₹488 crore
o Focus: Interception, diversion, and sewage treatment.
o Components:
▪ Two STPs: 65 MLD and 48 MLD capacities.
▪ 30 KLD septage co-treatment facility.
▪ Three interception and diversion structures.
o Timeline: Completion within 24 months, with 15 years of operation and
maintenance.
3. Supaul, Bihar
o Project Cost: ₹76.69 crore
o Focus: Construction of STPs and diversion structures
Government's Initiative on PLI Scheme for Speciality Steel
● The Indian government is planning a second round of the Production-Linked Incentive (PLI)
scheme for speciality steel, as the initial response to the first round did not meet expectations.
● This announcement was made by Steel Secretary Sandeep Poundrik during the CII Steel
Summit 2024 in New Delhi.
Indian Economy To Grow At 6.5-7 Percent In FY 2024-25: CEA Nageswaran
● Chief Economic Advisor (CEA) V. Anantha Nageswaran estimates the Indian economy will grow
at 6.5-7% in the current financial year on a steady-state basis.
● The nominal growth rate, which accounts for inflation, is expected to be around 11%.
● Real GDP Growth: Expected at 6.5-7% for the current financial year.
INTERNATIONAL NEWS
2nd Joint Russian-Indian Commission Meeting on Emergency Management Held in Moscow
• The Second Meeting of the Joint Russian- Indian Commission on the Cooperation in the Field of
Emergency Management was held in Moscow, Russia.
• Shri Nityanand Rai, Minister of State for Home Affairs, India is leading the Indian delegation.
• The working plan of the Joint Russian-Indian Commission on Cooperation in the Field of
Emergency Management for 2025-2026 was signed by Mr. Rai and Minister of the Russian
Federation for Civil Defence, Emergencies, and Elimination of Consequences of Natural
Disasters, Kurenkov Aleksandr Vyacheslavovich.
About Russia :
• President : Vladimir Putin
• Prime Minister : Mikhail Mishustin
• Capital : Moscow
• Currency : Ruble
World Health Organization Designates Monkeypox a Global Public Health Emergency

• The World Health Organization (WHO) has declared monkeypox, which has badly affected the
Democratic Republic of the Congo (DRC) and a growing number of countries in Africa, to be a
public health emergency of international concern.
• This is the second time the viral infection has been designated such.
About WHO :
• Formation : 7 April 1948
• Headquarters : Geneva, Switzerland
• Director General : Tedros Adhanom Ghebreyesus
• The WHO is a specialized agency of the United Nations responsible for international public
health.
India and Poland Elevate Bilateral Ties to 'Strategic Partnership' During PM Modi's Historic Visit,
Announce 5-Year Implementation Program
• During Prime Minister (PM) Narendra Modi’s visit to Poland, India and Poland elevated their
bilateral relationship to a "strategic partnership" and announced a five-year Action Plan for 2024-
2028.
• Both countries will maintain regular contacts between their foreign ministers, utilizing both
bilateral and multilateral fora for interactions.
• Multilateral Cooperation: India and Poland will support each other's aspirations on a case-by-
case basis to enhance multilateral cooperation, aligning with the spirit of the United Nations
Charter.
About Poland :
• President : Andrzej Sebastian Duda
• Prime Minister : Donald Tusk
• Capital and largest city : Warsaw
• Currency : Zloty
United States, European Union, and United Kingdom to Sign 1st International Artificial Intelligence
Treaty with Legal Binding
• The Council of Europe Framework Convention on Artificial Intelligence and Human Rights,
Democracy, and the Rule of Law is the first international treaty establishing legal rules for AI
technology development and use.
• The treaty ensures that AI systems respect human rights and democratic values.
• The treaty was opened for signature at a Council of Europe justice ministers' conference in
Vilnius, Lithuania.
• Initial signatories include major global players: the United States (US), European Union (EU),
United Kingdom (UK), and other countries like Andorra, Georgia, Iceland, Norway, Moldova, San
Marino, and Israel.
About US :
• President : Joe Biden
• Capital : Washington, D.C
• Currency : U.S. dollar
About EU :
• President of the European Council : Charles Michel
• President of the Commission : Ursula von der Leyen

• Membership : 27 Members
About UK :
• Prime Minister : Keir Starmer
• Capital : London
• Currency : Pound sterling
2024 Edition of the Chief Science Advisers’ Roundtable (CSAR) to Be Held at UNESCO Headquarters
in Paris, France
• The 2024 Edition of the Chief Science Advisers’ Roundtable (CSAR) is scheduled to be
organised at the headquarters of the United Nations Educational, Scientific and Cultural
Organization (UNESCO) in Paris, France.
• This roundtable is co-organised by the Office of Principal Scientific Adviser to the Indian
Government and the Natural Sciences Sector of UNESCO.
• CSAR was conceptualised and launched as a Sherpa-track initiative during the Indian G20
Presidency last year.
About UNESCO :
• Founded: 16 November 194
• Headquarters: Paris, France
• Director General : Audrey Azoulay
• UNESCO is a specialised agency of the United Nations aimed at promoting world peace and
security through international cooperation in education, arts, sciences and culture.
External Affairs Minister S. Jaishankar to Participate in Inaugural India-Gulf Cooperation Council
Foreign Ministers’ Meeting in Riyadh
• External Affairs Minister S. Jaishankar attended the first India-Gulf Cooperation Council (GCC)
Foreign Ministers' Meeting in Riyadh on September 08 & 09, 2024 to strengthen ties between
India and the Gulf nations.
• The meeting will focus on enhancing cooperation in various sectors, including trade, investment,
and energy.
• India-GCC Trade:The total trade volume between India and GCC countries stood at USD 184.46
billion in FY 2022-23, highlighting the economic significance of the partnership.
About GCC :
• Established in 1981, the GCC promotes economic, security, cultural and social cooperation
between the six states.
• The GCC is an influential grouping comprising the United Arab Emirates, Bahrain, Saudi Arabia,
Oman, Qatar and Kuwait.
• It holds a summit every year to discuss cooperation and regional affairs.
Mexico Becomes the 1st Country to Approve Popular Election of Judges
• Mexico became the first country to allow voters to elect judges at all levels.
• The reform was driven by outgoing President Andrés Manuel López Obrador, who criticised the
judiciary for favouring political and economic elites.
• Constitutional Amendment: The reform was passed with 86 votes in favour and 41 against,
surpassing the two-thirds majority required to amend the constitution.
About Mexico :
• Capital : Mexico City
• Currency : Mexican peso
International Cooperative Alliance (ICA) General Assembly and Global Cooperative Conference 2024
Set for November 25-30, 2024 in New Delhi
• The International Cooperative Alliance (ICA) General Assembly and the Global Cooperative
Conference 2024 are scheduled to take place from November 25th to November 30th, 2024, at
Bharat Mandapam, Pragati Maidan, New Delhi.
• The theme for this year’s conference is “Cooperatives Build Prosperity for All,” which is in line
with Prime Minister Shri Narendra Modi’s vision of ‘Sahkar se Samriddhi’.
• The conference will mark the official launch of the UN International Year of Cooperatives – 2025.
• A commemorative stamp celebrating the International Year of Cooperatives – 2025 will be
unveiled during the event.
About ICA :
• Established: 1895
• Headquarters : Brussels, Belgium
• President : Ariel Guarco
• Director General : Jeroen Douglas
World Health Organisation approves first mpox vaccine to strengthen response efforts in Africa
• The World Health Organization (WHO) granted its first authorisation for a mpox vaccine for use in
adults, marking a critical step in combating the disease, particularly in Africa.
• The vaccine is produced by Bavarian Nordic A/S, and its pre-qualification allows global health
agencies like GAVI and UNICEF to purchase it.
• Current Situation: The Africa Centre for Disease Control and Prevention (Africa CDC) reported
that nearly 70% of mpox cases in Congo, the country most affected, are among children under
15 years old, who also account for 85% of deaths.
About WHO :
• Founded : 7 April 1948
• Director General : Tedros Adhanom Ghebreyesus
Former United States President Donald Trump Unveils Cryptocurrency Venture 'World Liberty Financial'
● Former President Donald Trump launched a new cryptocurrency venture called World Liberty
Financial just 50 days before Election Day.
● World Liberty Financial is designed to be a crypto banking service that allows users to borrow,
lend, and invest in digital currencies.
● World Liberty Financial is Donald Trump's new cryptocurrency venture, aiming to offer
decentralized finance (DeFi) services.
55th International Film Festival of India (IFFI) 2024 to Take Place in Goa from November 20-28, 2024
● The 55th International Film Festival of India (IFFI) 2024 is slated to be held in Goa from 20th to
28th November 2024.
● The Ministry of Information and Broadcasting has instituted a new section as part of IFFI, 2024
for the Indian young filmmaker called "Best Debut Indian Film Section 2024".
● Best Debut Indian Film Section 2024 will focus on Indian debut films, which will showcase a
diverse range of narratives and cinematic styles from across the country.
Ukraine, Gaza, key pacts on agenda during Indian Prime Minister’s US visit
Quad Initiatives
• Discussions on peace and stability in the Indo-Pacific.
• Reform of global governance structures.
• Addressing pressing conflicts in Ukraine and Gaza.
• September 21: Participation in the Quad Summit in Wilmington, Delaware, with President Biden,
Australian PM Anthony Albanese, and Japan's PM Fumio Kishida.
• September 22: Interaction with the Indian diaspora at Long Island.
• September 23: Participation in the Summit of the Future at the UN General Assembly, along with
bilateral meetings and a roundtable with CEOs of American firms.
Cambodia’s Angkor Wat, the most photogenic UNESCO World Heritage site in Asia
• Cambodian Prime Minister Hun Manet announced that Angkor Wat has been recognized as the
most photogenic UNESCO World Heritage site in Asia by Times Travel.
Top Photogenic UNESCO Sites in Asia
• Angkor Wat (Cambodia)
• Taj Mahal (India)
• Great Wall (China)
• Bagan (Myanmar)
• Borobudur (Indonesia)
• Halong Bay (Vietnam)
• Kyoto’s Historical Monuments (Japan)
• Petra (Jordan)
• Rice Terraces of the Philippines Cordilleras
• Hampi (India)
Jordan becomes first country to eliminate leprosy, receives WHO verification

• The World Health Organization (WHO) has congratulated Jordan for becoming the first country in
the world to be officially verified as having eliminated leprosy.
• This achievement represents a major milestone in global public health efforts.
• WHO Director-General Tedros Adhanom Ghebreyesus praised Jordan, saying the country has
successfully stopped the transmission of leprosy, freeing individuals and communities from the
disease's suffering and stigma.
About World Health Organization (WHO):
• Headquarters: Geneva, Switzerland
• Founded: 7 April 1948
• Director-General: Tedros Adhanom Ghebreyesus
• Deputy Director-General: Michael Ryan
European Union proposes €35 billion loan for Ukraine, secured by Russian assets
● European Commission President Ursula von der Leyen announced a €35 billion loan to Ukraine,
backed by profits from immobilized Russian central bank assets.
● The plan was revealed after a meeting with Ukrainian President Volodymyr Zelenskyy in Kyiv.
● Broader Financial Package:This loan is part of a larger $50 billion support package developed in
coordination with the U.S. and G7 countries.
● Use of Russian Assets:The repayments for the loan will come from the profits of $280 billion in
frozen Russian Central Bank funds, mostly held in Europe.
About European Commission :
● Established :16 January 1958
● Headquarters : Brussels, Belgium
● President : Ursula von der Leyen
● Member States : 27
About Ukraine :
● President : Volodymyr Zelenskyy
● Prime Minister : Denys Shmyhal
● Capital : Kyiv
● Currency : Hryvnia
France Commits Comprehensive Support for Nuclear Submarines, Jet Engines, and Underwater
Drones to India
● The India-France strategic defence partnership is poised for significant advancements,
particularly in the construction of nuclear attack submarines and the transfer of technology for
aircraft engines and underwater drones.
● Discussions between Indian National Security Advisor Ajit Doval and French diplomatic advisor
Emmanuel Bonne will take place in Paris from September 30 to October 1, 2024.
● France is prepared to offer a 100% transfer of technology for 110 kilo-Newton thrust aircraft
engines and advanced underwater drones to India.
● This meeting marks the first bilateral strategic engagement following French President
Emmanuel Macron's visit to India in January 2024.
About France :
● President : Emmanuel Macron
● Prime Minister : Michel Barnier
● Capital : Paris
● Currency : Euro
India and South Korea Engage in Talks to Enhance Trade Agreement and Boost Investments
● India and South Korea discussed addressing non-tariff barriers affecting Indian exporters in the
Korean market to promote more balanced trade.
● The meeting involved discussions on upgrading the existing Comprehensive Economic
Partnership Agreement (CEPA), originally signed in 2009 and effective from 2010.
● The meeting was held at Vientiane in Laos on the sidelines of the ASEAN-India Economic
Ministers’ meeting and the East Asia Summit Economic Ministers’ Meeting.
About South Korea :
● President : Yoon Suk Yeol
● Prime Minister : Han Duck-soo
● Capital : Seoul
● Currency : Korean Republic won
Prime Minister Shri Narendra Modi Presents US President Mr. Joe Biden with Antique Silver Hand-
Engraved Train Model
● Prime Minister Shri Narendra Modi presented gifts to United States (US) President Mr Joe Biden
and First Lady Jill Biden, symbolizing India's rich cultural heritage.
● President Biden received an antique silver, hand-engraved train model with "Delhi-Delaware"
inscribed on the main carriage, signifying strong India-US ties.
● First Lady Jill Biden was gifted a Pashmina shawl in an intricately designed Papier Mache box.
About Antique Silver Train Model:
● Crafted by artisans from Maharashtra, known for its heritage in silver craftsmanship.
● Made of 92.5% silver with intricate detailing achieved through techniques like engraving,
repousse, and filigree work.
● Inscribed with "Delhi-Delaware" on the carriage and "Indian Railways" on the engine in both
English and Hindi, reflecting standard passenger train formats in India.
About Pashmina Shawl:
● A Pashmina shawl, known for its high quality, was gifted to First Lady Jill Biden.
● The shawl is sourced from Jammu and Kashmir and features vibrant hues from natural dyes
derived from plants and minerals.
About US :
● President : Joe Biden

● Vice President : Kamala Harris
● Capital : Washington, D.C
● Currency : U.S. dollar ($)
Commerce and Industry Minister Piyush Goyal Wraps Up Three-Day Visit to Australia
● Union Minister for Commerce and Industry, Shri Piyush Goyal, concluded a 3-day visit to
Australia from September 23 to 26, 2024.
● The Minister co-chaired the 19th Joint Ministerial Commission meeting with Senator Don Farrell,
Minister for Trade and Tourism of Australia, on September 25, 2024, at Government House in
Adelaide.
About Australia :
● Prime Minister : Anthony Albanese
● Capital : Canberra
● Currency : Australian dollar
STATE NEWS
India Meteorological Department Warns Cyclone 'Asna' to Bring Heavy Rains in Gujarat as it Moves
West-Northwest Over Northeast Arabian Sea
● The Indian Meteorological Department (IMD) issued a warning for Cyclone Asna, which is a deep
depression over the Arabian Sea.
● The cyclone is expected to move West-Northwest over the Northeast Arabian Sea and away
from the Indian coast within the next 24 hours.
● Current Position and Movement:As of the latest update, Cyclone Asna is moving at a speed of 14
km per hour.
● Its coordinates are approximately 23.6° N latitude and 66.4° E longitude.
Maharashtra Chief Minister Eknath Shinde Unveils Solar Village Scheme, With Manyachiwadi as the
First 100% Solar-Powered Village
• Maharashtra Chief Minister Eknath Shinde launched the Solar Village Scheme, an initiative
aimed at providing 100% solar-powered electricity to 100 villages, at a function held in Satara.
• Manyachiwadi, a village in Satara district, has become the 1st village in the state to be electrified
100% by solar power.
• The scheme aims to achieve zero electricity bills for households under the PM SuryagarhMuft
Bijali Yojana.
• It also aims to provide free electricity to farmers.
About Maharashtra :
• Governor: C. P. Radhakrishnan
• Chief Minister: Eknath Shinde
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
Maharashtra Government Declares Ratnagiri Geoglyphs and Petroglyphs as Protected Monuments
Under 1960 Act
• The Maharashtra government has declared the geoglyphs and petroglyphs in Ratnagiri as
'protected monuments' under the Maharashtra Ancient Monuments and Archaeological Sites and
Remains Act, 1960.
• According to a notification issued by the Culture Department, the group of petroglyphs at Deud in
Ratnagiri dates back to the Mesolithic Age (about 20,000–10,000 years ago).
About Maharashtra :
• Governor: C. P. Radhakrishnan
• Chief Minister: Eknath Shinde
• Capital: Mumbai
• National Park: Tadoba National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Karnala Bird Sanctuary, Nagzira Wildlife
Sanctuary
• UNESCO Heritage Sites: Chhatrapati Shivaji Maharaj Terminus, The Victorian and Art Deco
Ensemble of Mumbai, Ajanta Caves, Elephanta Caves, Ellora Caves
TANGEDCO Launches ₹10,000 Crore Project to Upgrade Low Tension Lines to High Tension to
Reduce Transmission Losses
• Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) is undertaking a

₹10,000 crore project to convert low tension (LT) lines to high tension (HT) lines in its
transmission system.
• Primary goal of the project : To reduce transmission losses. HT lines are preferred for long-
distance transmission due to their higher voltage (11kV and above), which minimises
transmission losses compared to LT lines (220V) used for shorter distances.
About Tangedco :
• Founded : 1 November 2010
• Headquarters : Chennai, Tamil Nadu, India
• Chairman and Managing Director : Rajesh Lakhoni
• TANGEDCO is an electrical power generation and distribution public sector undertaking owned
by the Government of Tamil Nadu.
Centre Sanctions 8 Lakh Pradhan Mantri Awas Yojana Houses in Chhattisgarh

• The Centre has sanctioned the construction of more than 8 lakh houses under the Pradhan
Mantri Awas Yojana (PMAY) in rural areas of Chhattisgarh.
• The newly-elected BJP government approved the sanctioning of 18 lakh houses for beneficiaries
in rural areas as a key promise made ahead of the 2023 assembly elections.
• The state government has also launched the ‘Niyad Nellanar’ (your good village) scheme for
development in villages within a 5-km radius of security camps.
About PMAY:
• Pradhan Mantri Awas Yojana (Urban) (PMAY-U) was launched by the Government of India in
June 2015.
• Objective: To provide affordable housing to the urban poor, with a target of constructing 2 crore
(20 million) housing units by 31 March 2022.
About Chhattisgarh :
• Governor : Ramen Deka
• Chief Minister : Vishnu Deo Sai
• Capital : Raipur
Uttar Pradesh Government to Construct 3D Vedic Museum in Varanasi
• The Uttar Pradesh (UP) government will build the Vedic-3D museum in Varanasi, Prime Minister
Narendra Modi’s parliamentary constituency.
• The museum will be situated in the main building of Sampurnanand Sanskrit University.
• Museum Focus:The museum will be dedicated to Indian astrology, astronomy, and Vedic
literature.
About UP :
• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National Park
• Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National
Chambal Wildlife Sanctuary
Andhra Pradesh Chief Minister Unveils India's First Homegrown RT-PCR Kit for Monkeypox Detection
• Andhra Pradesh (AP) Chief Minister (CM), Nara Chandrababu Naidu launched India’s first
indigenous Monkeypox RT-PCR Kit at the AP Medtech Zone (AMTZ) in Visakhapatnam.
• The kit was developed at AMTZ in collaboration with Transasia Diagnostics.
• It has been validated by the Indian Council of Medical Research (ICMR) and the Central Drugs
Standard Control Organization (CDSCO).
About AP :
• Governor : Syed Abdul Nazeer
• Chief Minister : N. Chandrababu Naidu
• Capital : Amaravati
• Wildlife Sanctuaries : Coringa Wildlife Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu
Wildlife Sanctuary,Koundinya Wildlife Sanctuary & Gundla Brahmeswaram Wildlife Sanctuary
West Bengal Assembly Unanimously Approves Landmark ‘Aparajita’ Anti-Rape Bill Amidst Political
Tensions
• The West Bengal Assembly unanimously passed the 'Aparajita Woman and Child Bill (West
Bengal Criminal Laws and Amendment) Bill 2024'.
• The bill seeks capital punishment for rape convicts if their actions result in the victim’s death or
leave her in a vegetative state.
• The bill proposes to amend the Bharatiya Nyay Sanhita 2023, Bharatiya Nagarik Suraksha
Sanhita 2023, and the Protection of Children from Sexual Offences (POCSO) Act 2012 within the
state.
• West Bengal becomes the first state to amend central laws relating to rape, gang-rape, and
sexual crimes against children.
About West Bengal :
• Governor : C. V. Ananda Bose
• Chief Minister : Mamata Banerjee
• Capital : Kolkata
• Wildlife Sanctuaries : Ballabhpur Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary,
Bibhutibhushan Wildlife Sanctuary.
United Nations World Food Programme and Odisha Government Introduce India's
First 'Grain ATM' to Enhance Food Security
• The United Nations World Food Programme (WFP) and the Government of Odisha launched
India’s first around-the-clock grain dispensing machine, the 'Grain ATM,' also known as
'Annapurti' (Hindi for fulfiller of food), in the state capital Bhubaneswar.
• The machine was inaugurated by Krushna Chandra Patra, Odisha Minister of Food Supplies,
Consumer Welfare, Science and Technology, with Nozomi Hashimoto, Deputy Country Director
for WFP in India, present.
• Odisha is the first state in India to provide round-the-clock access to the PDS, enhancing
convenience and efficiency.
About World Food Programme :
• Established : 19 December 1961
• Headquarters : Rome, Italy
• Executive Director : Cindy McCain
• WFP is an international organisation within the United Nations that provides food assistance
worldwide.
• It is the world's largest humanitarian organization and the leading provider of school meals.
Odisha Chief Minister Mohan Charan Majhi Launches CM Kisan Yojana
• Odisha Chief Minister Mohan Charan Majhi launched the CM Kisan Yojana by releasing the first
instalment of ₹925 crore to benefit nearly 46 lakh farmers.
• The program was launched at Gangadhar Meher University, Sambalpur, coinciding with Western
Odisha's major agricultural festival, Nuakhai.
• The BJP government implemented the CM Kisan Yojana, replacing the previous BJD government's
Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme.
India's 1st Silicon Carbide manufacturing facility to be set up in Odisha

• Odisha Chief Minister Mohan Charan Majhi attended the ground-breaking ceremony for India’s first
silicon carbide manufacturing facility in Odisha, with an investment of ₹620 crore.
• The facility will be developed by RIR Power Electronics Limited, a leading company in India’s
semiconductor power electronics sector.
• The facility will be set up at EMC Park, Info valley, Bhubaneswar, Odisha.
About Odisha :
• Governor : Raghubar Das
• Chief Minister : Mohan Charan Majhi
• Capital : Bhubaneswar
Madhya Pradesh Government Approves Transfer of State Cooperative Dairy Operations to National
Dairy Development Board for 5 Years
• The Madhya Pradesh government has approved the transfer of operations of the State
Cooperative Dairy Federation and affiliated milk unions to the National Dairy Development Board
(NDDB) for the next five years.
• The opposition Congress views this decision as a potential "backdoor" entry for Gujarat’s Amul to
take over MP's state-run milk brand Sanchi since Amul is a major shareholder in NDDB.
About MP :
• Governor: Mangubhai C. Patel
• Chief Minister: Mohan Yadav
• Capital: Bhopal
• National Park: Satpura National Park, Kanha National Park, Bandhavgarh National Park
• Wildlife Sanctuary: Nauradehi Wildlife Sanctuary, Bori Wildlife Sanctuary
Government to rename Andaman & Nicobar Islands' capital Port Blair as "Sri Vijaya Puram"
• Union Home Minister Amit Shah announced the renaming of Port Blair, the capital of Andaman &
Nicobar Islands to “Sri Vijaya Puram” as a move to “free the nation from colonial imprints.”
• The renaming is aimed at removing colonial legacies associated with the original name, Port
Blair, which was named after British naval surveyor Archibald Blair.
• Previous Renaming Initiatives:In a move to honor Netaji Subhash Chandra Bose, three islands in
the Andaman and Nicobar Islands were renamed: Ross Island to Subhash Chandra Bose
Dweep, Neil Island to Shaheed Dweep, and Havelock Island to Swaraj Dweep.
About Andaman & Nicobar Islands :
• Lieutenant governor : Devendra Kumar Joshi
Gujarat Government Establishes GRIT as Policy Think Tank Led by CM Bhupendra Patel
• The Gujarat government has set up the Gujarat State Institution for Transformation-GRIT under
Chief Minister Bhupendra Patel’s chairmanship.
• The body will act as a policy think tank on the lines of NITI Ayog.
• A 10-member executive committee will be in place for the day-to-day operations of GRIT.
About Gujarat
• Capital: Gandhinagar
• Chief minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
• NP: Gir National Park, Marine National Park, Velavadar National Park, Jambughoda Wildlife
Sanctuary, Barda Wildlife Sanctuary, Vansda National Park, Purna Wildlife Sanctuary, Gaga
Wildlife Sanctuary
Uttar Pradesh's First Semiconductor Park to be Established in Greater Noida, State Allocates 225 Acres
of Land for Three Companies
● The first semiconductor park in Uttar Pradesh will be established in Greater Noida, near the
upcoming Noida International Airport.
● The Uttar Pradesh government has allocated 225 acres of land in Sector 10 and Sector 28 for
semiconductor manufacturing projects by three companies.
● Companies and Land Allocation : Arun Vir Singh, chief executive officer, Yamuna Development
Authority (YEIDA), stated that 50 acres of land in Sector-10 have been allocated to Kaynes
Semicon Private Limited and Vama Sundari Investments for setting up semiconductor units.
About UP :
● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● Capital : Lucknow
● National Park : Dudhwa National Park

● Wildlife Sanctuary : Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, National
Chambal Wildlife Sanctuary
Uttar Pradesh Chief Minister Yogi Adityanath Opens Jatayu Conservation and Breeding Centre in
Gorakhpur Forest Division
• Uttar Pradesh Chief Minister Yogi Adityanath inaugurated the Jatayu Conservation and Breeding
Centre in the Bharivaisi, Campierganj Range of the Gorakhpur Forest Division.
• The centre is the world's first conservation and breeding centre specifically for the Asian King
Vulture (red-headed vulture).
• The Uttar Pradesh Forest Department, in collaboration with the Bombay Natural History Society
(BNHS), established the centre.
• The centre is spread over 1.5 hectares in the Gorakhpur Forest Division and was constructed at a
cost of Rs 2.8 crore.
About UP :
• Governor : Anandiben Patel
• Chief Minister : Yogi Adityanath
• Capital : Lucknow
• National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,
Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary
Zanskar Hosts 9th Edition of Ladakh Zanskar Festival 2024

• The 9th Ladakh Zanskar Festival 2024 began with remarkable grandeur in the picturesque village
of Sani, signifying a landmark event for the region.
• The festival was inaugurated by Lieutenant Governor Brigadier (Dr) BD Mishra.
• This year’s Zanskar Festival is especially significant as it marks the first celebration since Zanskar
was officially declared a district.
About Ladakh :
• Lieutenant Governor : B. D. Mishra
• Capitals : Leh, Kargil
• Current Districts : 7
Assam rolls Orunodoi 3.0 scheme with annual budget of Rs 5,604 crore
• The Assam government has launched Orunodoi 3.0, a women-centric financial assistance
scheme aimed at providing monthly financial support to economically disadvantaged families in
the state.
• This is part of the broader efforts by the Assam government to uplift marginalised communities
and ensure financial stability for vulnerable households.
• Initially targets 12 lakh additional beneficiaries, aiming to cover a total of 37 lakh women by early
2025.
About: Assam
• Capital: Dispur
• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Acharya
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park,
Nameri National Park, Rajiv Gandhi Orang National Park
Gujarat wins most awards at renewable energy meet

• At the 4th Global Renewable Energy Investors Meet and Expo, hosted for the first time outside
Delhi, Gujarat emerged as the top performer, winning the maximum number of awards.
• This three-day event highlighted the state’s leadership in renewable energy, with Chief Minister
Bhupendra Patel emphasizing Gujarat’s commitment to transitioning towards a cleaner energy
future.
About: Gujarat
• Capital: Gandhinagar
• Chief Minister: Bhupendrabhai Patel
• Governor: Acharya Devvrat
Prime Minister Narendra Modi Unveils ‘SUBHADRA’ - Odisha’s Largest Women-Centric Scheme in
Bhubaneswar
● The Prime Minister, Shri Narendra Modi launched ‘SUBHADRA’, the flagship Scheme of
Government of Odisha, in Bhubaneswar, Odisha.
● It is the largest, single women-centric scheme and is expected to cover more than 1 crore
women.
● Financial Assistance:The scheme provides ₹50,000 to each eligible beneficiary over a period of 5
years (2024-25 to 2028-29).
● Beneficiaries will receive ₹10,000 annually in two equal installments, directly credited to their
Aadhaar-enabled and DBT-enabled bank accounts.
● Eligibility:The scheme is targeted at women aged 21-60 years.
● PMAY-G Fund Release:The Prime Minister released the first instalment of assistance to nearly
10 lakh beneficiaries under PMAY-G (Pradhan Mantri Awaas Yojana-Gramin) across 14 states.
About Odisha :
● Governor : Raghubar Das
● Chief Minister : Mohan Charan Majhi
● Capital : Bhubaneswar
Prime Minister Narendra Modi inaugurates 4th Global Renewable Energy Investor’s Meet and Expo
(RE-INVEST) in Gandhinagar, Gujarat
● The Prime Minister, Shri Narendra Modi inaugurated the 4th Global Renewable Energy Investors
Meet and Expo (RE-INVEST) at Mahatma Mandir, Gandhinagar in Gujarat.
● The 3-day summit honours the important contributors to India's remarkable achievement of over
200 GW of installed non-fossil fuel capacity.
● The 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) is poised to highlight
India's impressive progress in renewable energy manufacturing and deployment.
● Germany, Australia, Denmark and Norway are taking part in the event as partner countries.
● Gujarat is the host state and Andhra Pradesh, Karnataka, Madhya Pradesh, Maharashtra,
Rajasthan, Telangana and Uttar Pradesh are participating as Partner States.
About Gujarat :
● Capital: Gandhinagar
● Chief Minister: Bhupendrabhai Patel
● Governor: Acharya Devvrat
● National Parks: Gir National Park, Blackbuck (Velavadar) National Park, Marine National Park
(Gulf of Kachchh), Vansda (Bansda) National Park
● Wildlife Sanctuaries: Barda Wildlife Sanctuary, Girnar Wildlife Sanctuary, Kutch Desert Wildlife
Sanctuary, Purna Wildlife Sanctuary, Thol Lake Wildlife Sanctuary, Wild Ass Wildlife Sanctuary
Union Minister Jitan Ram Manjhi Virtually Inaugurates Centre for Rural Enterprise Acceleration through
Technology (CREATE) in Leh
● Union Minister for MSME, Shri Jitan Ram Manjhi, inaugurated the CREATE facility in Leh through
virtual mode.
● The Centre aims to enhance local productivity, improve product quality, boost economic
potential, and improve livelihoods for local communities.
Odisha prepares to join the Centre’s Ayushman Bharat health insurance scheme
● Odisha is set to join the Ayushman Bharat Pradhan Mantri - Jan Arogya Yojana (AB PM-JAY),
which offers health coverage of ₹5 lakh per family annually for secondary and tertiary
hospitalization.
● National Participation: Currently, 18 states have integrated their health schemes with AB PM-
JAY. States like Punjab are being engaged for compliance, while Bihar has recently joined.
● Beneficiary Demographics: 49% of Ayushman cards are issued to women, and of the 7.79 crore
hospital admissions, approximately 3.61 crore are utilized by women.
About Ayushman Bharat Pradhan Mantri - Jan Arogya Yojana (AB PM-JAY) :
● Established : 23 September 2018
● It is a national public health insurance scheme of the Government of India that aims to provide
free access to health insurance coverage for low income earners in the country.
Uttar Pradesh International Trade Show-2024: Yogi Adityanath announces Uttar Pradesh as the state
with the largest Micro, Small, and Medium Enterprises base in India
● Uttar Pradesh (U.P.) has the largest base of Micro, Small, and Medium Enterprises (MSMEs) in
India, with 96 lakh MSME units spread across 75 districts.
● MSMEs are the second-largest job creators in the U.P. after agriculture, playing a major role in
the state's industrial transformation
About UP :
● Governor : Anandiben Patel
● Chief Minister : Yogi Adityanath
● Capital : Lucknow
● National Park : Dudhwa National ParkWildlife Sanctuary : Bakhira Wildlife Sanctuary,
Chandraprabha Wildlife Sanctuary, National Chambal Wildlife Sanctuary
Delhi Chief Minister Atishi Updates Minimum Monthly Salaries for Unskilled, Semi-Skilled, and Skilled
Laborers
● Atishi announced a revision in the minimum monthly wages for unskilled, semi-skilled, and skilled
workers in her first decision as Chief Minister.
Revised Wage Details:

○ Unskilled Workers:
■ Previous Wage: ₹17,494
■ Revised Wage: ₹18,066
■ Percentage Increase: 3.2%
○ Semi-Skilled Workers:
○ Skilled Workers:
● Additional Wage Increases:
○ Non-Matriculate Workers: Minimum wage increased by 3.6%.
○ Matriculate Workers: Wage increased from ₹20,903 by 4.85%.
○ Graduate Workers: Wage increased from ₹23,082 by 3.26%.
● Launch of the Action Plan: The Delhi government introduced a comprehensive 21-point Winter
Action Plan to combat air pollution.
About Delhi :
● Lt. Governor : Vinai Kumar Saxena
● Chief Minister : Atishi Marlena Singh
Tripura Government Introduces CM-SATH Scheme to Support Meritorious Students in Pursuing Higher
Education
● The Chief Minister of Tripura, Manik Saha, launched the CM-SATH scheme to support
meritorious students in higher education, fulfilling a pre-poll promise.
● The scheme offers financial aid of ₹60,000 (₹5,000 monthly) for a duration of two to three years
to 200 selected students based on merit.
About Tripura :
● Governor : Indrasena Reddy
● Chief Minister : Manik Saha
● Capital : Agartala
● National Park : Bison (Rajbari) National Park, Clouded Leopard National Park
● Ramsar Site : Rudrasagar Lake
6th Session of the India-Egypt Joint Trade Committee (JTC) held successfully in New Delhi
● The 6th Session of the India-Egypt JTC was held in New Delhi on 16th-17th September 2024.
● The session Co-chaired by Ms. Priya P. Nair, Economic Adviser, Department of Commerce,
Government of India, and Mr. Yahya Elwathik Bellah, Deputy Minister of Investment & Foreign
Trade of Egypt.
● The Egyptian delegation included the Ambassador to India, H.E. Mr. Wael Mohamed Awad
Hamed, and eight delegates from relevant ministries.
● India secured necessary approvals to sign a Memorandum of Understanding (MoU) between the
National Small Industries Corporation (NSIC) of India and the MSME Development Agency
(MSMEDA) of Egypt, aiming for early signing and operationalization.
Uttar Pradesh introduces Krishi Sakhi scheme to empower women in agriculture
● The "Krishi Sakhi" scheme was launched in Uttar Pradesh (UP) to empower women in
agriculture.
● The scheme aims to promote self-reliance and improve economic status through modern
agricultural practices.
About the Scheme :
● Training and Participation:A total of 7,634 women have been trained through 269 training
programs under this initiative.
● Krishi Sakhis are selected from self-help groups (SHGs) established under the Uttar Pradesh
State Rural Livelihood Mission.
● Coordination and Support:The state government coordinates efforts between Krishi Sakhis and
various government departments to enhance financial stability.
● Training includes initiatives from the Department of Agriculture, Horticulture Department, Silk
Directorate, and Ground Water Department.
● Selection Criteria:Women aged between 21 to 45 years with an interest and experience in
agriculture are eligible for selection.
● Training Body:The National Institute of Agricultural Extension Management (MANAGE) is
responsible for training Krishi Sakhis.
● Training focuses on natural, organic, and agroecology-based farming practices.
● Role in Community:Krishi Sakhis are actively involved in the "Lakhpati Mahil Program,"
organizing agricultural and animal husbandry schools for women farmers.
Karnataka Unveils Draft Policy for Global Capability Centres, Targeting 500 New Centres and 350,000
Jobs by 2029
● Karnataka is set to strengthen its position in the global outsourcing landscape by targeting a
doubling of its Global Capability Centres (GCCs) to 1,000 and generating 350,000 new jobs by
2029.
● Incentives Offered:The draft policy includes various incentives for attracting foreign firms, such
as:
➢ Reimbursement of rental costs.
➢ Assistance with patent fees.
➢ Exemptions from electricity duties, based on employee numbers at GCCs.
● Additionally, the Karnataka government aims to achieve an economic output of $50 billion
through these new offices by 2029.
BUSINESS NEWS
PM Modi Lays Foundation Stone for Vadhvan Port, India's Largest Deep-Water Port
• Prime Minister Narendra Modi laid the foundation for the Vadhvan Port project on August 30.
• The Vadhvan Port is situated in the Palghar district of Maharashtra, approximately 150 km from
Mumbai. It is set to be India's largest deep-water port with an investment of ₹76,220 crore.
o The port will have a capacity of 300 million tonnes annually (mta), featuring 9 container
terminals and 4 multipurpose berths.
o The Jawaharlal Nehru Port Authority and Maharashtra Maritime Board will share the
construction costs in a 74:26 ratio.
Indian Economy Projected to Grow 7% in FY25 Despite Q1 Slowdown
• The Indian economy is forecasted to grow at 7% in FY25, according to HSBC Global Research,
despite experiencing a slowdown to 6.7% in the first quarter of FY25.
• This marks the lowest growth rate in five quarters.
• The positive outlook is supported by robust underlying growth momentum and a reduction in key
economic data gaps.
Finance Ministry Eases Cash Management Guidelines to Enhance Fiscal Spending
• The Finance Ministry has relaxed cash management guidelines to boost spending in the
remaining months of the current fiscal year.
• This change aims to address the impact of low government spending due to the general elections
on economic growth during the April-June quarter.
• The government has set a target of exceeding ₹11 lakh crore in capital expenditure for the
ongoing fiscal year.
• This target underscores the need for increased spending to drive economic growth.
World Bank and IMF Boost India's Growth Forecast for FY 2024-25
• The World Bank has increased India's GDP growth forecast for the Financial Year 2024-25 to
7%, up from 6.6%.
• This change reflects strong economic momentum driven by private consumption and investment.
• IMF Projection: The International Monetary Fund (IMF) has similarly revised its growth projection
for India to 7%, an increase of 20 basis points. This adjustment aligns with the World Bank’s
optimistic outlook.
India's Decision to Retain Current Tax Structure for Electric and Hybrid Vehicles
o The Indian government has decided to retain the current tax structure for electric and hybrid vehicles
for an extended period.
o Electric cars will continue to be taxed at a lower rate of 5%, whereas hybrid cars will face a higher
tax rate of 48%.
o The decision comes amid growing pressure from major car manufacturers like Maruti Suzuki India
and Toyota Kirloskar Motor to lower the tax burden on hybrid cars.
o Despite these demands, the government remains focused on promoting electric mobility and battery
manufacturing in India.
BPCL to Invest ₹2,500 Crore in Expanding City Gas Distribution Network by March 2025
• Bharat Petroleum Corporation Ltd (BPCL), India's second-largest state-controlled oil marketing
company, announced plans to invest ₹2,500 crore in the financial year ending March 2025.
• The investment aims to expand BPCL's city gas distribution (CGD) network, enhancing its presence
in the natural gas sector.
• BPCL holds authorization to establish CGD networks in 26 geographical areas (GAs), of which 25
GAs have been commissioned.
• Including joint ventures, BPCL is authorized for 52 GAs covering 154 districts across India.
Top-10 Valued Indian Firms See Market Valuation Surge by ₹1.53 Lakh Crore
o Eight of the top 10 most valued Indian companies saw their combined market valuation surge by
₹1,53,019.32 crore last week.
o The biggest gainers were Bharti Airtel, Infosys, and Tata Consultancy Services (TCS).
o The gains aligned with a record rally in the equity markets, with the BSE Sensex climbing
1,279.56 points (1.57%) last week.
GST Collections Rise 10% in August 2024, Indicating Robust Economic Activity
o The gross Goods and Services Tax (GST) collections for August 2024 (reflecting transactions
from July) rose 10% year-on-year (YoY) to ₹1.75 lakh crore, according to data from the finance
ministry.
o In contrast, GST collections for July 2024 (transactions from June) were ₹1.82 lakh crore, up
10.3% YoY.
o With refunds amounting to ₹24,460 crore issued during August, the net GST collections stood at
₹1.5 lakh crore, reflecting a 6% increase from the same period last year.
EV Registrations in India Drop to 14-Month Low in August 2024

o The total electric vehicle (EV) registrations in India fell to a 14-month low in August 2024,
showing a decline both month-on-month (MoM) and year-on-year (YoY).

o The total EV registrations across all categories stood at approximately 1.06 lakh units in August,
a 17% decline from 1.28 lakh units in July.

o Registrations of electric two-wheelers dropped significantly to 46,085 units in August, down from
61,498 units in July and 62,646 units in August 2023.

o Electric three-wheelers recorded higher volumes than two-wheelers, with 54,861 units sold in
August, though this was still lower than 59,151 units in July and 56,581 units in August 2023.
CoinSwitch Expands Services to Cater to High-Net-Worth Individuals and Institutional Investors
• India’s crypto exchange, CoinSwitch, has announced a strategic expansion of its services to
focus on High Net Worth Individuals (HNIs) and institutional investors.
• Mumbai-based exchange introduced a new service to provide these clients with personalized
investment advice, risk management solutions, and other financial services.
• This initiative comes at a time when crypto-related activities such as trading, investing, and
holding are permitted in India under the government’s tax regime.
India Overtakes China in MSCI Emerging Markets IMI: Implications for Equity Inflows
• India has recently surpassed China in the MSCI Emerging Markets Investable Market Index
(MSCI EM IMI), according to an announcement by Morgan Stanley.
• This shift in weightage is expected to have significant impacts on the Indian equity market.
• New Weightage:
o India: 22.27%
o China: 21.58%
Swiggy partners with the Indian government to offer skilling and employment opportunities
• Swiggy, India’s leading on-demand convenience platform, has partnered with the Ministry of Skill
Development and Entrepreneurship (MSDE) to launch "Swiggy Skills."
• The initiative aims to provide skilling and employment opportunities within Swiggy's expansive
food delivery and quick commerce network.
• "Swiggy Skills" was formally launched by Shri Jayant Chaudhary, Hon'ble Minister of State
(Independent Charge), Ministry of Skill Development and Entrepreneurship, and Minister of State
for Education.
India's Global Capability Centres (GCCs) Poised for Significant Growth by 2030
• India's global capability centres (GCCs) have dramatically transformed the tech landscape over
the past five years.
• According to a report, 70 per cent of Fortune 500 companies will expand their presence to India
by 2030.
• According to a report by Nasscom and Zinnov, titled ‘India GCC Landscape Report: The 5-year
Journey’, the expansion of GCCs in India is set to continue at a robust pace, driven by increasing
global roles, advancements in AI, and a focus on engineering and R&D.
Launch of "Trade Connect e-Platform" to Boost Indian Exports

• The Ministry of Commerce and Industry has introduced the “Trade Connect e-Platform”, a new
online tool designed to streamline and enhance foreign trade for existing and aspiring exporters.
• This platform aims to provide comprehensive, real-time trade information and facilitate
connections between exporters and key government entities.
• Offers access to critical trade-related data, including global demand, country-specific trade
information, international standards, market access conditions, and compliance requirements.
IREDA's New Subsidiary Receives Provisional Registration
• IREDA Global Green Energy Finance IFSC Limited, a wholly-owned subsidiary of the Indian
Renewable Energy Development Agency (IREDA), has secured provisional registration from the
International Financial Services Centre Authority (IFSCA) to operate as a finance company in
GIFT City.
• IREDA Global Green Energy Finance IFSC Limited has been granted provisional registration to
operate within the GIFT City, Gujarat.
• S&P Global Ratings recently assigned a ‘BBB-’ long-term and ‘A-3’ short-term issuer credit rating
to IREDA with a ‘Stable’ outlook.
Quick Estimates of Index of Industrial Production (IIP) for July 2024
• The Index of Industrial Production (IIP) for July 2024 shows a growth rate of 4.8%, a slight
increase from 4.7% in June 2024.
• The sectoral growth rates for July are 3.7% for Mining, 4.6% for Manufacturing, and a strong
7.9% for Electricity.
• The overall IIP for July 2024 stands at 149.6, up from 142.7 in July 2023.
• Sectoral Indices:
o Mining: 116.0
o Manufacturing: 148.6
o Electricity: 220.2
Updated Foreign Exchange (Compounding Proceedings) Rules, 2024

• The Finance Ministry has introduced significant modifications to the compounding rules under the
Foreign Exchange Management Act (FEMA), aimed at simplifying processes and enhancing
efficiency in adjudications.
• Compounding Application Fees: Doubled to Rs 10,000 plus GST.
• Assistant General Manager: Empowered to decide on applications up to Rs 60 lakh (increased
from Rs 10 lakh).
• Deputy General Manager: Authorized for cases up to Rs 2.5 crore.
• General Manager: Can adjudicate cases up to Rs 5 crore.
• Chief General Manager: Authorized for cases exceeding Rs 5 crore.
Retail Inflation in August 2024 Increases to 3.65% Amid Rising Food Prices
• Retail inflation for August 2024 inched up to 3.65%, slightly above the July figure of 3.6%, which
was a five-year low.
• The inflation rate remains below the Reserve Bank of India’s (RBI) median target of 4% for the
second consecutive month.
• Year-on-Year Inflation in August 2023 was significantly higher at 6.83%.
• Vegetables saw inflation rise to 10.71%, while pulses and products surged by 13.6%.
Retail Food Inflation Marginally Rises to 5.66% in August 2024 Amid Elevated Prices of Pulses and
Vegetables
• Retail food inflation increased to 5.66% in August 2024 from 5.42% in July 2024 due to elevated
prices of pulses, cereals, and vegetables.
• On a month-on-month basis, the Consumer Food Price Index (CFPI) decreased by 0.44% in
August compared to July.
• In August 2023, food inflation was 9.94%, and in July 2023, it was 11.51%.
• Pulses had the highest inflation in the food basket, rising to 13.6% in August.
• Cereals, eggs, fruits, and vegetables all saw inflation above 6%.
HAL Shares Rise with Prospects of Achieving Maharatna Status

• Reports suggest HAL may be upgraded from Navratna to Maharatna by the end of this year.
• Hindustan Aeronautics Ltd. (HAL) shares rose by over 1%.
• HAL shares were quoted at ₹4,649.75, reflecting a 0.17% increase compared to the previous
trading session.
• Reports suggest HAL may be upgraded from Navratna to Maharatna by the end of this year.
Agilitas Sports Secures Strategic Investment from Spring Marketing Capital to Propel Growth
• Bengaluru-based athleisure sportswear start-up Agilitas Sports has received an undisclosed
strategic investment from Spring Marketing Capital.
• The investment aims to help Agilitas Sports scale its operations and become a category-defining
leader in the sportswear industry.
• Agilitas Sports was founded in 2023 by former Puma India managing director Ganguly, alongside
Atul Bajaj and Amit Prabhu.
• The company has already raised over Rs 530 crore across two funding rounds from Convergent
Finance LLP, Nexus Venture Partners, and individual investors.
DGGI Detects Record GST Evasion in FY24, Focus on Online Gaming Industry
• The Directorate General of GST Intelligence (DGGI) identified the highest-ever GST evasion in
FY24, totalling Rs 81,875 crore across 78 cases in the online money gaming industry.
• Overall, DGGI uncovered 6,084 cases of tax evasion involving Rs 2.01 trillion in GST during
2023-24, a significant increase from FY23’s Rs 1.01 trillion.
• 46% of evasion cases were linked to non-payment of taxes, including clandestine supply and
undervaluation.
Government increases PF withdrawal limit to ₹1 lakh, likely to hike salary ceiling
• Union Labour Minister Mansukh Mandaviya announced significant updates regarding the
Employees' Provident Fund Organisation (EPFO), a government-managed retirement savings fund,
introducing enhanced flexibility for subscribers and changes to withdrawal limits and eligibility
criteria.
• New Limit: Subscribers can now withdraw up to ₹1 lakh from their EPFO accounts for personal
financial needs.
• Previous Limit: The withdrawal limit was ₹50,000, but it was deemed insufficient due to rising
living and consumption costs.
India's Trade Deficit Surges to a 10-Month High in August 2024
• India’s trade deficit soared to a 10-month high of $29.7 billion in August 2024, driven by record
imports of $64.4 billion and a contraction in exports for the second consecutive month.
• The widening gap between imports and exports is attributed to factors such as a doubling of gold
imports, weakening global demand, and softening oil prices.
1. Merchandise Exports:
o Decline: Exports shrank 9.3%, amounting to $34.7 billion in August.
o Factors: The contraction was driven by:
India's Wholesale Price Index (WPI) Inflation Falls to Four-Month Low in August
• India’s wholesale price index (WPI)-based inflation dropped to a four-month low of 1.31% in August
2024, down from 2.04% in July 2024.
• According to data from the Ministry of Commerce and Industry, this decline is attributed to reduced
prices in manufactured goods and food items.
• Food Prices Inflation:
o August: 3.11%
o July: 3.45%
India’s Exports Plunge and Trade Deficit Soars in August
• India’s exports experienced their sharpest decline in 13 months, falling by 9.3% in August 2024 to
₹2.91 lakh crores ($34.71 billion).
• This decline, coupled with a record high in imports, resulted in a substantial increase in the trade
deficit, which soared to a 10-month high of $29.65 billion.
Government relief on PDS wheat quota, to launch Rs 1K crore credit guarantee fund
• The Centre has announced a partial restoration of wheat allocation for beneficiaries of the
Pradhan Mantri Gareeb Kalyan Ann Yojana (PMGKAY), a major social welfare scheme providing
free food grains to over 800 million poor individuals.
• This decision comes after a reduction in wheat quota due to lower crop yields.
• Starting next month, an additional 3.5 million tonnes of wheat will be allocated under PMGKAY,
continuing until March 2025.
Navi Becomes India's Sixth-Largest UPI Player

• Navi, a fintech company founded by Flipkart co-founder Sachin Bansal, has emerged as India's
sixth-largest player on the Unified Payments Interface (UPI), surpassing Amazon Pay just one
year after launching its UPI services.
• In August, Navi processed 88.71 million UPI transactions worth Rs 4,651.32 crore.
• This marks a 29.56% increase in transaction volume from July, when it handled 68.47 million
transactions valued at Rs 3,574.61 crore.
Review of Integrated Goods and Service Tax (I-GST) Settlement Mechanism
● The government has initiated a review of the integrated goods and service tax (I-GST) settlement
mechanism following numerous complaints from various state governments about being deprived
of their rightful I-GST shares, leading to significant revenue losses.
● A committee consisting of central and state officials has been established to address the issue of
“negative balance” in the I-GST floating pool.
● The committee includes representatives from around 10 states, notably Tamil Nadu and Kerala,
which have consistently reported inadequate IGST transfers from the Centre.
● According to the Controller General of Accounts, the Centre's IGST collections from April to July
FY25 were Rs (-)10,659 crore, compared to Rs (-)9,144 crore in the same period last year. In
FY24, the total IGST mop-up was Rs (-)5,026 crore.
● States like Tamil Nadu and Kerala have received lower IGST transfers than expected. The State
Fiscal Review Committee of Kerala estimated a Rs 35,000 crore loss in IGST settlements since
the GST regime began in 2017.
CARE Ratings Downgrades IIFL Finance Ltd’s Long-Term Instruments
● CARE Ratings has downgraded the long-term instruments rating of IIFL Finance Ltd (IFL) from
“AA” to “AA-” due to a significant decline in the company's gold loan book, following restrictions
imposed by the Reserve Bank of India (RBI).
● This rating action occurred shortly after the RBI lifted these restrictions on March 4, 2024.
Ministry of Corporate Affairs to Launch Internship Scheme for Skill Development
● The Ministry of Corporate Affairs (MCA) is preparing to release a list of 500 companies eligible to
participate in the Centre's internship scheme, based on the average annual corporate social
responsibility (CSR) expenditure over the past three years.
● Union Finance Minister Nirmala Sitharaman announced this initiative during the Budget 2024-25.
o The government aims to skill 10 million youths (aged 21-24) in India’s top companies over the
next five years.
o Internships will provide exposure to a real-life business environment for a duration of 12
months.
● Financial Support:
o The Centre will offer an internship allowance of Rs 5,000 per month and a one-time
assistance of Rs 6,000.
o Companies will be expected to cover training costs and 10% of the internship costs from their
CSR funds.
o Between FY19 and FY22, Reliance Industries was the top CSR spender, but in 2022-23, it
ranked third with an expenditure of Rs 743.4 crore, following HDFC Bank and Tata
Consultancy Services. Other notable CSR spenders include ICICI Bank and Tata Steel.
India's Economic Growth in FY25 Projected to Reach 7.2%: MoSPI
● India's economy is projected to achieve a growth rate of 7.2% in FY25, with potential to surpass this
estimate, as reported by a senior official from the Ministry of Statistics and Programme
Implementation (MoSPI).
● Although the Q1FY25 growth was recorded at 6.7%, it is expected that higher growth rates in the
following quarters will compensate for the initial slowdown, possibly leading to upward revisions in
Q1 data.
Unemployment and Labour Force Report: July 2023 - June 2024
● Unemployment rate for persons aged 15 years and above has remained unchanged at 3.2 per cent
in July 2023 to June 2024, according to the labour force survey annual report released.
● Unemployment Rate (UR):
o Remained unchanged at 3.2% for persons aged 15 and above.
o Male UR: Slight decline from 3.3% (2022-23) to 3.2% (2023-24).
o Female UR: Increased from 2.9% to 3.2% during the same period.
● Labour Force Participation Rate (LFPR):
o Overall LFPR for persons aged 15+ rose to 60.1% from 57.9% (2022-23).
o Male LFPR: Increased slightly from 78.5% to 78.8%.
o Female LFPR: Notable rise from 37.0% to 41.7%.
● Worker Population Ratio (WPR):
o Overall WPR increased to 58.2% from 56.0%.
o Male WPR: 76.3%.
o Female WPR: Significant rise from 35.9% to 40.3%.
Definitions:
● Unemployment Rate (UR): Percentage of unemployed persons in the labour force.
● Labour Force Participation Rate (LFPR): Percentage of people working or seeking work in the
total population.
● Worker Population Ratio (WPR): Percentage of employed persons in the total population.
PLFS Overview:
● Periodic Labour Force Survey (PLFS) was launched in April 2017 to provide regular updates on
employment and unemployment.
NHPC Pays Final Dividend of Rs 338.51 Crore to Government of India for FY 2023-24
● State-owned hydro power giant NHPC has paid a final dividend of Rs 338.51 crore to the
Government of India for 2023-24.
Key Points:
1. Final Dividend Payment:
o NHPC, a state-owned hydro power giant, has paid a final dividend of Rs 338.51 crore to
the Government of India for the financial year 2023-24.
2. Total Dividend for 2023-24:
o In addition to the final dividend, an interim dividend of Rs 947.82 crore was paid on March
5, 2024.
o This brings the total dividend for FY 2023-24 to Rs 1,286.33 crore
SEBI Introduces UPI Rules for Public Issues of Debt Securities to Simplify Investment Process
● Effective from November 1, 2024, the Securities and Exchange Board of India (SEBI) will mandate
the use of the Unified Payments Interface (UPI) for individual investors applying for amounts up to
₹5 lakh through intermediaries.
● The new rule simplifies the application process for public issues of debt securities, aligning it with the
process for public issues of equity shares and convertibles.
● Mandatory UPI for Retail Investors:
o Retail investors applying through intermediaries like stock brokers, registrars, syndicate
members, or depository participants must provide their UPI ID linked to their bank accounts in
the bid-cum-application form.
● Reduced Time for Issuers to Access Funds:
o SEBI has shortened the minimum subscription period for public issues of debt securities from
three to two working days.
GoM Favours Reducing GST on Education Materials, Considers Raising Tax on Textiles
● The Group of Ministers (GoM) on GST rate rationalisation is leaning towards reducing the GST on
education materials from 12% to 5%. This move is intended to provide relief to a large section of
people.
● Increase in GST on Textiles and Apparel:
o The GoM is also considering raising the GST rate on textiles and apparel priced above
₹1,000 from the current 5% to either 12% or 18%.
o The goal is to achieve revenue neutrality, raising the weighted average GST rate closer to its
original target of 15.5%, as it had fallen below 11% due to various rate reductions since the
introduction of GST in July 2017.
Airtel Launches India’s First AI-Powered Spam Detection Solution
● In a groundbreaking initiative to tackle the growing issue of spam calls and messages in India, Bharti
Airtel has launched the country’s first network-based, AI-powered spam detection solution.
● This pioneering tool aims to reduce spam communication for its customers significantly.
BANKING AND ECONOMY

Star Health Introduces Insurance Policy in Braille
• Star Health and Allied Insurance Company Limited has introduced an insurance policy in Braille
named ‘Special Care Gold’.
• The policy is designed for individuals with 40% or more disability and offers comprehensive
protection tailored to persons with disabilities (PWD), including those with physical, sensory, or
cognitive impairments.
• Collaboration: The Braille version was produced in collaboration with the National Association of
the Blind (NAB).
About Star Health and Allied Insurance Co Ltd :
• Founded : 2006
• MD & CEO : Mr. Anand Roy
India's Foreign Direct Investment Inflows Surge 47.8% to $16.17 Billion in April-June FY25, Boosted by
Services, Telecom, and Pharma Sectors
• According to government data, Foreign direct investment (FDI) in India jumped 47.8% to $ 16.17
billion in April-June this fiscal on healthy inflows in services, computer, telecom and pharma
sectors.
• FDI inflows were at $ 10.94 billion in April-June 2023-24.
• Monthly FDI Data:May: Inflows rose to $5.85 billion (from $2.67 billion in May FY24).
Association of Mutual Funds in India Sets Out Plan to Address Front Running at Asset Management
Companies
• The Association of Mutual Funds in India (AMFI) has established minimum standards to prevent
front running and market abuse by Asset Management Companies (AMCs).
• In August 2024, SEBI issued a circular directing AMCs to implement an institutional mechanism
to deter front running and market abuse.
• Implementation Timeline:Phase-wise Implementation:
About AMFI :
• Founded : 22 August 1995

• Location : Mumbai, Maharashtra, India
• CEO : Venkat Nageswar Chalasani
• AMFI is an Indian trade association for all the asset management companies of SEBI registered
mutual funds in India.
Securities and Exchange Board of India Updates Rules to Regulate Unregistered Financial Influencers
Amid Growing Concerns
• Markets watchdog, Securities and Exchange Board of India (SEBI) has amended norms in a bid
to regulate unregistered financial influencers or finfluencers amid growing concerns about
potential risk associated with such unregistered persons.
• The regulator has restricted associations between its regulated entities and unregistered
individuals.
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.
National Company Law Tribunal approves ICICI Securities de-listing scheme

• The Mumbai bench of the National Company Law Tribunal (NCLT) has approved ICICI Securities
Limited’s application for delisting from the stock exchanges.
• Under the approved scheme, ICICI Securities shareholders will receive 67 ICICI Bank Ltd shares
for every 100 shares they hold in ICICI Securities.
• The delisting proposal was approved by 93.82% of ICICI Securities' equity shareholders in terms
of value.
About NCLT :
• Headquarters : New Delhi
• The NCLT is a quasi-judicial body in India that adjudicates issues relating to Indian companies.
• The tribunal, established under the Companies Act 2013, was constituted on 1 June 2016 by the
government of India and is based on the recommendation of the V. Balakrishna Eradi committee
on the law relating to the insolvency and the winding up of companies.
Insurance Regulatory and Development Authority of India Issues Master Circular to Simplify
Policyholder Protection Norms
• The Insurance Regulatory and Development Authority of India (IRDAI) has issued a Master
Circular to streamline norms on policyholder protection.
• The Master Circular replaces 30 previous circulars and consolidates them into a comprehensive
document.
• The Master Circular on Protection of Policyholders’ Interests under the IRDAI (protection of
policyholders’ interests, operations, and allied matters of insurers) Regulations, combines
policyholder entitlements into a comprehensive reference document.
About IRDAI :
• Established : 1999
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.
PNB Housing Finance to Raise ₹2,500 Crore Through Non-Convertible Debentures

• PNB Housing Finance Limited’s (PNBHFL) Board of Directors will meet to approve the plan to
raise up to ₹2,500 crore through Non-Convertible Debentures (NCDs).
• The NCDs will be issued on a private placement basis and in tranches over the next 6 months.
• Non-Convertible Debentures (NCDs) are a type of debt instrument used by companies to raise
funds from the public or institutional investors.
About PNB Housing Finance :
• Headquarters : New Delhi, Delhi, India
• MD & CEO : Girish Kousgi
• PNB Housing Finance, promoted by Punjab National Bank, is among the leading providers of
housing and non-housing loans in India.
Canara Bank Raises $300 Million by Issuing 5-Year Bonds via IFSC Banking Unit
• Canara Bank has issued $300 million in 5-year bonds.
• The bonds were issued under the bank's USD 3 billion Medium-Term Note (MTN) program
through its IFSC Banking Unit.
• The 5-year bond is priced at T+125 basis points, with a semi-annual coupon rate of 4.896% and
a maturity date of September 11, 2029.
• The proceeds from the bonds will be used by the issuer’s IFSC/GIFT banking unit for general
corporate purposes.
About Canara Bank :
• Founded : 1906
• Headquarters : Bangalore, Karnataka, India
• MD & CEO : K Satyanarayana Raju
• Tagline : Together We Can
Bandhan Bank Teams Up with Ashok Leyland to Offer Vehicle Finance Solutions
• Ashok Leyland, a commercial vehicle manufacturer, has signed a Memorandum of
Understanding (MoU) with Bandhan Bank.
• The partnership aims to provide customized financial solutions to Ashok Leyland customers.
• Bandhan Bank will offer end-to-end financial solutions, including vehicle loans.
• The loans will feature convenient monthly repayment plans tailored to customer preferences.
About Ashok Leyland :
• Founded : 7 September 1948
About Bandhan Bank :
• Headquarters : Kolkata, West Bengal, India
• MD & CEO : Ratan Kumar Kesh
• Tagline : 'Aapka Bhala. Sabki Bhalai. ', (Your benefit. Everyone's welfare.)
Finance Ministry Eases Rules for Expenditures Over ₹500 Crore to Speed Up Capex
• The Finance Ministry has relaxed norms for expenditures exceeding ₹500 crore to expedite
capital expenditure (capex) for the current fiscal year.
• The capital expenditure target for the fiscal year is set at a record ₹11.11 lakh crore, reflecting an
11.1% increase from the previous target.
• The relaxation aims to boost government spending, which had slowed down due to the general
elections.
About Ministry of Finance :
• Cabinet Minister : Nirmala Sitharaman
• Minister of State : Pankaj Choudhary
Bank of India Introduces Special Fixed Deposit with Interest Rates Up to 7.9% for Limited Tenure
• Public sector lender Bank of India has launched a special tenure fixed deposit scheme Star Dhan
Vriddhi, offering an interest rate of up to 7.9% to senior citizens.
• Bank of India has revised its FD interest rates for amounts less than Rs 3 crore and also
introduced a new special FD tenure of 333 days with higher rates.
• These rates are effective from September 1, 2024.
• Following the revision, the bank will offer FD interest rates ranging from 3% to 7.25% for tenures
between 7 days and 10 years for general customers.
About BoI :
• MD & CEO : Rajneesh Karnatak
• Tagline : Relationship beyond banking
57% of Women Micro-Business Owners Unaware of UPI-Based Services: Report

• The ‘UPI for Her’ initiative, a collaboration between the National Payments Corporation of India
(NPCI) and Women’s World Banking (WWB), released its first report.
• The report highlights that women’s micro businesses are largely undiscovered by merchant
aggregators.
• These micro businesses are often mature but operate in semi-urban and rural areas, making
them less visible to merchant aggregators.
Nepal to introduce banknotes featuring disputed territories with India

• Nepal's central bank, Nepal Rastra Bank, is set to introduce new banknotes featuring a revised
map that includes disputed territories with India.
• The updated banknotes will display the areas of Kalapani, Lipulekh, and Limpiyadhura as part of
Nepal's territory.
• Printing Timeline:The process for printing the updated banknotes has been initiated, and the
entire procedure is expected to be completed within 6 months to a year.
• Nepal-India Border:Nepal shares a border of over 1,850 km with five Indian states: Sikkim, West
Bengal, Bihar, Uttar Pradesh, and Uttarakhand.
IndianOil and RBL Bank Introduce Co-Branded Credit Card

• Indian Oil Corporation Limited (IndianOil) has launched a co-branded credit card in partnership
with RBL Bank at the Global Fintech Fest (GFF) in Mumbai, Maharashtra.
• The credit card offers attractive rewards and benefits, including the ability to earn up to 250 litres
of free petrol annually.
About RBL Bank (formerly known as Ratnakar Bank Limited) :
• Founded : 1943
• MD & CEO : R Subramaniakumar
Securities and Exchange Board of India Revises Alternative Investment Funds Regulations to Set
Maximum Tenure Extension Limits for Large Value Funds
• Markets regulator Securities and Exchange Board of India (SEBI) has amended alternative
investment funds (AIF) norms specifying maximum permissible limit for extension of tenure by
'Large Value Funds'.
• Extension of Tenure for Large Value Funds:Large Value Funds for accredited investors can
extend their tenure by up to 5 years.
• This extension is subject to the approval of two-thirds of the unit holders by the value of their
investment in the fund.
• Purpose of the Amendment:The amendment aims to provide clarity to investors in Large Value
Funds for Accredited Investors (LVFs) about their investment horizon.
About SEBI :
Visa partners with Pine Labs to expand digital payment acceptance nationwide
• Visa, a global leader in digital payments, has partnered with fintech company Pine Labs to
expand digital payment acceptance across India.
• The collaboration aims to improve the in-store payment experience for millions of merchants
currently using printed QR codes or other low-tech solutions.
• The two companies have jointly unveiled Pine Labs Mini, a soundbox-enabled device for QR,
near-field communication (NFC) and card payments.
About Pine Labs :
• Founded : 1998
• Headquarters : Noida, Uttar Pradesh
• CEO : B Amrish Rau
Reserve Bank of India Imposes ₹2.68 Crore Penalty on UCO Bank and ₹2.1 Lakh Penalty on Cent
Bank Home Finance Limited
● The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.68 crore on UCO Bank.
● Contravention of provisions under Section 26A of the Banking Regulation Act, 1949 (BR Act).
○ Non-compliance with RBI directions related to:
■ Interest Rate on Advances
■ Opening of Current Accounts by Banks (Need for Discipline)
■ Interest Rate on Deposits
■ Classification and Reporting of Frauds by Commercial Banks and Select Financial
Institutions (FIs).
About RBI :
● Founded : 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
Finance Minister Nirmala Sitharaman Grants 'Navratna' Status to 4 Central Public Sector Enterprises
● Union Finance Minister Nirmala Sitharaman approved the upgradation of 4 Central Public Sector
Enterprises (CPSEs) to Navratna status.
● These CPSEs are:
1. Railtel Corporation of India (RCIL)
2. Solar Energy Corporation of India (SECI) Limited
3. Satluj Jal Vidyut Nigam (SJVN) Limited
4. National Hydroelectric Power Corporation (NHPC)
● With this approval, the total number of Navratna CPSEs in India has increased to 25.
Reserve Bank of India Data Shows Increase in Private Sector Banks' Credit Share in June 2024, While
Public Sector Banks' Share Declines
● According to the Reserve Bank of India’s (RBI’s) quarterly BSR data, the share of public sector
banks (PSBs) in total credit continued to decline and stood at 53.1% in June 2024 (55.8% a year
ago) with concomitant rise for private sector banks (PvBs).
● The share of PvBs in total credit increased to 46.9% in June 2024, up from 36.5% in March 2021,
highlighting their growing market share.
AU Small Finance Bank Seeks Reserve Bank of India Green Light for Transition to Universal Bank
• AU Small Finance Bank has formally applied to the Reserve Bank of India (RBI) for approval to
transition from a small finance bank to a universal bank.
• The RBI's invitation for applications from small finance banks (SFBs) to become universal banks
was issued on April 26, 2024.
• Net Worth: Minimum net worth of ₹1,000 crore at the end of the previous quarter.
• Listing: Shares of the bank should be listed on a recognized stock exchange.
• Profitability: Net profit in the last two financial years.
About AU Small Finance Bank :
• Founded : 1996
• Headquarters : Jaipur, Rajasthan, India
• MD & CEO : Sanjay Agarwal
• Tagline : Badlaav Humse Hai
National Payments Corporation of India Unveils New ATM Products and Renames BBPS to Bharat
Connect
• The National Payments Corporation of India (NPCI) unveiled products aimed at transforming
ATM infrastructure in the country.
• These new offerings include Bharat BillPay (BBPS) for Business, designed to streamline
business-to-business (B2B) transactions across different ERPs and accounting platforms, and
UPI Circle, which enables delegate payments to users.
• NPCI's launches at the Global Fintech Fest included UPI Interoperable Cash Deposit and banks
showcasing digital banking units.
About NPCI :
• Founded : 2008
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Dilip Asbe
• The NPCI is an umbrella organization for operating retail payments and settlement systems in
India.
• It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment &
Settlement Infrastructure in India.
Securities and Exchange Board of India seeks Reserve Bank of India's assistance to enhance
participation in the corporate bond repo market
• The Securities and Exchange Board of India (SEBI) has requested the Reserve Bank of India
(RBI) to provide certain approvals to AMC Repo Clearing (ARCL) to facilitate the participation
from banks and primary dealers (PDs).
• ARCL Launch: ARCL was launched in July, 2023 by Finance Minister Nirmala Sitharaman to
enhance liquidity in the corporate bond repo market.
• Market Growth: The corporate bond repo market volume has surpassed ₹1 trillion within a year,
with monthly transactions ranging between ₹10,000 crore and ₹15,000 crore.
About ARCL :
• Chairman & Public Interest Director : Mr. Srinivasan Varadarajan
• ARCL is promoted by all Asset Management Companies (AMCs).

About SEBI :
SEBI Proposes Measures to Enhance Appeal of Rights Issues for Fundraising

• The Securities and Exchange Board of India (SEBI) has proposed a number of steps to increase
the attractiveness of rights issues as a mode of fundraising.
• The measures include doing away with the requirement of filing a draft letter of offer (DLoF) with
SEBI, rationalising the content of the letter of offer (LoF) by reducing the number of disclosures,
reviewing the role of intermediaries, reducing the timelines and enabling allotment to select
investors.
• Merchant Banker Requirement : The requirement of appointing a merchant banker may be done
away with and their activities may be outsourced to the issuer, registrar to the issue, and stock
exchanges.
India's Account Aggregator Framework Reaches 100 Million Consents in 3 Years

• India’s Account Aggregator (AA) framework has surpassed 100 million consents in three years.
• Approximately 80-90 million individuals, or about 8% of the adult population in India, are utilising
the AA system.
• Function of AAs : In India, account aggregators act as consent managers independent of
Financial Information Users (FIUs), that enable individuals and businesses to share their financial
data with their consent and manage their consents at one place.
International Financial Services Centres Authority Announces Final Rules for Gift City Listings and Sets
Initial Public Offering Eligibility Criteria
● The International Financial Services Centres Authority (IFSCA) issued the final norms specifying
eligibility conditions and norms for direct listing on the exchanges in the GIFT City.
● With the final notification in place, the gates of IFSCA will be open for foreign entities and
domestic unlisted companies, especially startups eyeing offshore investors, to explore listing on
the two exchanges in the financial hub.
➢ Revenue: Minimum operating revenue of $20 million in the previous financial year.
➢ Profit: Minimum pre-tax profit of $1 million.
➢ Market Capitalisation: Post-issue market capitalisation must be at least $25 million.
Public Sector Banks Reduce Government Securities Holdings Under Held-to-Maturity by 50%
• Public sector banks have cut their holdings of government securities (G-Secs) under the Held-to-
Maturity (HTM) category by over 50%.
• This reduction follows revised investment norms issued by the Reserve Bank of India (RBI).
• The new guidelines came into effect on April 1, 2024.
• New RBI Guidelines : Categories: Investments must now be classified into HTM, Available-for-
Sale (AFS), and Fair Value through Profit and Loss.
Unified Payment Interface Transactions Reach New High in August; Volume Increases, Value Slightly
Decreases
• Unified Payment Interface (UPI) transactions saw a 3% rise in volume in August to 14.96 billion,
compared to 14.44 billion in July, the highest ever since the digital payment platform turned
operational in April 2016.
• The total value of UPI transactions slightly decreased to Rs 20.61 trillion in August, compared to
Rs 20.64 trillion in July.
• According to the data shared by the National Payments Corporation of India (NPCI) in August,
UPI volume posted a 41% year-on-year (Y-o-Y) growth and 31% Y-o-Y growth in value.
Securities and Exchange Board of India Suggests Comprehensive Revision of Merchant Bankers’
Regulations
• The Securities and Exchange Board of India (SEBI) proposed an overhaul of merchant bankers’
regulations amid a boom in the equity capital market.
• Merchant bankers play an imperative role in the primary market and have been entrusted with
the responsibility to ensure appropriate due diligence, maintain integrity of the primary market
and ensure compliance with the relevant laws on their own account and on behalf of the issuers.
• Net Worth Requirements: The current net worth requirement for merchant bankers is ₹5 crore,
which was last hiked in 1995 from ₹1 crore, said SEBI.
About SEBI :
BharatPe Collaborates with Unity Bank to Introduce Third-Party App for Simplified Payments
• BharatPe has partnered with Unity Bank to launch its UPI Third Party Application Provider
(TPAP) service.
• The "postpe" app has been rebranded as "BharatPe," now available for UPI payments.
• UPI Features: Customers can create UPI IDs on the BharatPe app to make payments to
individuals, merchants, and pay various bills directly through the app.
• Platform Availability: The BharatPe UPI app is currently available for Android users, with a launch
on Apple's App Store planned in the coming months.
• App Variants: BharatPe now offers two apps - "BharatPe" for general users and "BharatPe for
Business" for merchants.
About BharatPe :
• Founded : 2018
• Headquarters : New Delhi, India
• CEO : Nalin Negi
• BharatPe is an Indian fintech company that sells digital payment and financial services to small
merchants and Grocery stores.
About Unity Bank :
• Founded : 2006
• Headquarters : Lagos, Nigeria
• Managing Director : Tomi Somefun
Reserve Bank of India Permits Foreign Investors in International Financial Services Centre to Invest in
Sovereign Green Bonds

• The Reserve Bank of India (RBI) has introduced a scheme to allow foreign investors in the
International Financial Services Centre (IFSC) to invest in sovereign green bonds (SGrBs),
aiming to facilitate wider non-resident participation.
• The Government of India issued sovereign green bonds in January 2023.
Karnataka Bank to Provide Personal Loans through Open Network for Digital Commerce
• Karnataka Bank will offer personal loans through the Open Network for Digital Commerce
(ONDC), becoming the first bank to do so.
• The personal loans will be available through buyer apps on the ONDC network.
• Initially, this service will be available to the bank’s existing customers.
About Karnataka Bank :
• Founded : 18 February 1924
• Headquarters : Mangalore, Karnataka, India
• MD & CEO : Srikrishnan Hari Hara Sarma
• Executive Director : Sekhar Rao
Securities and Exchange Board of India Considers Broadening Informal Guidance Scheme Scope and
Increases Fees
● Capital markets regulator Securities and Exchange Board of India (SEBI) proposed changes to
the informal guidance scheme to expand the list of applicants who can seek guidance under the
plan and enhance the fee for applying.
● New entities that will be allowed to seek IG mechanisms are stock exchanges, clearing
corporations and depositories, managers of pooled investment vehicles such as alternative
investment funds, Real Estate Investment Trust (ReiT), Infrastructure Investment Trust (InVIT)
and Collective Investment Scheme (CIS).
● Fee Structure Changes : On rationalising fees, Sebi has proposed to raise the fees to Rs 75,000
from the current Rs 25,000 from an applicant while making an application under the IG scheme.
Securities and Exchange Board of India Updates Criteria for Inclusion and Removal of Stocks in
Futures and Options (F&O) Segment
● The Securities and Exchange Board of India (SEBI) has revised the eligibility criteria for the entry
and exit of stocks in the derivatives (F&O) segment to ensure only high-quality stocks with
sufficient market liquidity are allowed to trade.
● Performance Criteria for Entry : To be eligible for entry into the derivatives segment, stocks must
meet certain criteria based on their performance in the cash market over the previous six months
on a rolling basis.
HDFC Bank Unveils DigiPassBook to Streamline Investments in a Single Platform

● HDFC Bank has launched DigiPassBook, a new feature on its SmartWealth app which allows
users to consolidate all their investments under one roof.
● It allows users to manage and view all their equity investments, ETFs and demat accounts in the
app.
● DigiPassBook is supported by the account aggregator framework, which allows users to
consolidate financial assets from different institutions.
● In the future, HDFC Bank plans to expand the DigiPassBook to include investments in insurance
and bonds, marking a significant enhancement for the SmartWealth app.
About HDFC Bank :
● Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
● MD & CEO : Sashidhar Jagdishan
● Tagline : We Understand Your World
Aditya Birla and Policybazaar Introduce Lifetime Family Income Protection Plan
● Aditya Birla Sun Life Insurance (ABSLI) and Policybazaar have jointly launched a new term
insurance plan called ‘Income Suraksha Plan’.
● The plan provides a guaranteed monthly income for life in the "unfortunate event" of the
policyholder's death.
● Increasing Income Protection Option: Offers a 5% annual increment in the monthly income,
capped at 1.5 times the initial amount.
● Premium Discount: Up to a 9% one-time discount on the first-year premium.
● Eligibility Criteria:
➢ Age at Entry: 21 to 55 years.
➢ Maturity Age: 31 to 70 years.

About Aditya Birla Sun Life Insurance :
● Incorporated : August 4, 2000 (Commenced Operations-January 17th, 2001)
● Headquarters : Mumbai, Maharashtra
● MD & CEO : Kamlesh Rao
● ABSLI is a 51:49 joint venture between the Aditya Birla Group and Sun Life Financial Inc., an
international financial services organization in Canada.
HDFC Bank Introduces GIGA, Financial Product Tailored for India's Gig Workers
● HDFC Bank has introduced GIGA, a financial suite designed for gig workers and freelancers.
● The programme aims to address the financial needs of India's burgeoning gig economy.
● The gig economy is estimated to employ 30-50 million workers: Fom management consultants
and software programmers to delivery partners.
● GIGA will cater to this diverse group's financial requirements.
Reserve Bank of India Initiates September 2024 Consumer Confidence Survey Round
● The Reserve Bank of India (RBI) regularly conducts the Consumer Confidence Survey (CCS) to
gauge public sentiment on economic conditions.
● The September 2024 round of the CCS has been launched.
● Survey Objectives:The survey collects qualitative responses from households regarding:
➢ General economic situation
➢ Employment scenario
➢ Price levels
➢ Household income
➢ Spending patterns
Securities and Exchange Board of India to Revise Criteria for Stock Inclusion and Exclusion in Futures
and Options (F&O) Market
• The markets regulator Securities and Exchange Board of India (SEBI) is revising the criteria for
the entry and exit of stocks in the futures and options (F&O) market.
• This revision may impact 79 popular stocks, including Life Insurance Corporation of India, Paytm,
DMart, Jio Financial Services, and Zomato.
• Potential Exclusions:18 stocks could be dropped from the current F&O list of 182 if they do not
meet the new criteria within the next three months.
About SEBI :
Bank Credit to Commercial Real Estate Surges in July 2024 Due to Increased Office Space Demand
• Bank credit to the commercial real estate sector rose to ₹4.85 lakh crore outstanding as of July
26, 2024, from ₹4.38 lakh crore on July 28, 2023.
• Growth Drivers:Office Leasing: Significant growth in office leasing activity, with expected leasing
between 50 and 60 million square feet in 2024.
• The first half of 2024 saw office leasing surpass 29 million square feet, a 19% year-over-year
increase.
• The June quarter saw a 50% rise in leasing across major office markets like Mumbai, Delhi-NCR,
and Bengaluru.
Reserve Bank of India manages liquidity to align inflation with 4% target while supporting economic
growth
• With the July retail inflation easing to a five-year low of 3.54% and the first quarter GDP growth
decelerating to a five-quarter low of 6.7%, the RBI is focusing on maintaining adequate liquidity in
the banking system.
• This approach is aimed at balancing its dual objectives of steering inflation towards a sustainable
4% and supporting economic growth, according to market experts.
• RBI's Monetary Policy Statement:Retail Inflation: RBI Governor Shaktikanta Das indicated that
the expected moderation in retail inflation during Q2 of 2024-25 might reverse in Q3 due to base
effects.
Life Insurance Corporation of India Receives ₹606 Crore GST Demand and Penalty Notice
• Life Insurance Corporation of India (LIC) received a GST tax demand, interest, and penalty order
amounting to ₹605.58 crore.
• The order was issued by the Deputy Commissioner of State Tax, Mumbai, Maharashtra.
• Breakdown of the Demand:
• The total demand for the Financial Year 2020 is divided as follows:
• GST: ₹294.43 crore
• Interest: ₹281.70 crore
• Penalty: ₹29.44 crore
About LIC :
• Chairman : Siddhartha Mohanty
State Bank of India Secures ₹7,500 Crore Through Tier 2 Bond Issuance
• State Bank of India (SBI) raised ₹7,500 crore through its first Basel III compliant Tier 2 bond
issuance for the current financial year.
• The bonds were issued at a coupon rate of 7.42%.
• The bonds have a tenure of 15 years, with a call option after 10 years and on each anniversary
date thereafter.
• SBI received 70 bids amounting to over ₹8,800 crore, against a base issue size of ₹5,000 crore,
indicating oversubscription and strong investor interest.
About SBI :
• Chairman :Challa Sreenivasulu Setty
Union Bank of India freezes accounts of telecom firm MTNL over non-payment of dues
• Union Bank of India has frozen all accounts of the telecom company MTNL due to non-payment
of dues.
• In Aug 2024, MTNL reported to stock exchanges that it defaulted on bank loan payments
amounting to Rs 422.05 crore.
Breakdown of Loan Defaults:
• Union Bank of India: Rs 155.76 crore
• State Bank of India (SBI): Rs 140.37 crore
• Bank of India: Rs 40.33 crore

• Punjab & Sind Bank: Rs 40.01 crore
• Punjab National Bank (PNB): Rs 41.54 crore
• UCO Bank: Rs 4.04 crore
About Union Bank of India :
• MD &CEO : A. Manimekhalai
• Tagline : Good people to bank with
IndiaFirst Life Becomes the First Indian Life Insurer to Launch Operations in GIFT City
• IndiaFirst Life Insurance Company Limited (IndiaFirstLife ) has become the first Indian life insurer
to commence operations in Gujarat International Finance Tec City (GIFT City), Gandhinagar,
Gujarat.
• The company inaugurated its IFSC Insurance Office (IIO) at the country's international financial
gateway.
• IndiaFirst Life's IIO will have a dedicated team involving specialists who will cater to the needs of
GIFT City's global audience.
About IndiaFirst Life Insurance Company Ltd :
• Established: 2009
• MD & CEO: Rushabh Gandhi
• Headquarters: Mumbai, Maharashtra
• Paid-Up Share Capital: ₹754 crore
• Shareholders: Bank of Baroda, Union Bank of India, and Carmel Point Investments India Pvt Ltd
Amazon Pay ICICI Bank Credit Card: India's Top Co-Branded Card with 5 Million Users
• The Amazon Pay ICICI Bank credit card, powered by VISA, has achieved a significant milestone
becoming the first co-branded credit card in India to onboard over 5 million customers
nationwide.
• Offers a straightforward rewards program with unlimited cashback.
• Lifetime free credit card.
• Instant issuance within 30 minutes through a digital process.
Max Life Forms Bancassurance Partnership with CSB Bank

• Max Life Insurance Company Limited has entered into a bancassurance partnership with CSB
Bank, a private sector bank in India.
• The partnership aims to offer a range of savings, protection, retirement, and group life insurance
plans to over 2.5 million CSB Bank customers.
• Benefits of the Partnership:Max Life will provide its diverse insurance solutions to CSB Bank’s
customers, helping them to achieve their aspirations and protect their loved ones at different life
stages.
About Max Life Insurance Company Limited :
• MD & CEO : Prashant Tripathy
• It is an 80:20 joint venture between Max Financial Services and Axis Bank. The company is a
subsidiary of the publicly-listed Max Financial Services.
About CSB Bank :
• Established : 26 November 1920
• Headquarters : Thrissur, Kerala, India
• MD & CEO : Pralay Mondal
National Bank for Agriculture and Rural Development Plans to Collaborate with Global Agencies to
Establish Carbon Fund: Chairman Shaji K V
• The National Bank for Agriculture and Rural Development (NABARD) is in discussions with
international agencies to establish a carbon fund aimed at addressing challenges posed by
climate risk, according to Chairman Shaji K V at the FIBAC conference in Mumbai, Maharashtra.
• NABARD's Climate Change Fund:NABARD has set up a Rs 100 crore Climate Change Fund to
enhance the capacities of institutions working in rural areas.
• This fund will be utilized to develop innovative products that mitigate climate change challenges.
About NABARD :
• Chairman : Shri. Shaji K V
• It was established on the recommendations of B. Sivaraman Committee (by Act 61, 1981 of
Parliament) on 12 July 1982 to implement the National Bank for Agriculture and Rural
Development Act 1981.
• NABARD is an apex regulatory body for the overall regulation of regional rural banks and apex
cooperative banks in India.
• It is under the jurisdiction of the Ministry of Finance (MoF), Government of India (GoI).
Chennai-Based Fintech Paysharp Gets Final Reserve Bank of India Authorization as Payment
Aggregator
• Chennai-based fintech startup, Paysharp has received final authorisation from the Reserve Bank
of India (RBI) to operate as an online payment aggregator (PA).
• It was granted an in-principle license in December 2022 and received final approval in 2023.
• Paysharp is now authorized to onboard merchants and process payments as part of India’s
payment system.
• Paysharp is one of authorised Payment Aggregators from Tamil Nadu. As on date RBI has
authorized 36 payment aggregators including Razorpay, Cashfree and Stripe.
About Paysharp :
• Founded : 2019
• Founder and CEO : Krishna Kumar Mani
• It caters to various sectors, including government, B2B, NBFC and SMBs and is now expanding
into the ecommerce segment.
• The company focuses on non-card-based payments, including UPI and virtual account-based
solutions for NEFT, IMPS, and RTGS collections.
• Its product portfolio includes Link Payment and Payment Pages powered by UPI.
International Solar Alliance and Multilateral Investment Guarantee Agency Launch Multi-Donor Trust
Fund to Promote Solar Projects
• The Multilateral Investment Guarantee Agency (MIGA), part of the World Bank Group, and the
International Solar Alliance (ISA) have established the MIGA-ISA Solar Facility, a multi-donor
trust fund.
• Aim : To accelerate global adoption of solar energy, offering concessional financing tools,
including first-loss instruments and reinsurance capacity, to enhance project bankability and
lower MIGA guarantee costs.
• Partnership Goal: The World Bank Group and the African Development Bank Group aim to
provide at least 300 million people in Africa with electricity access by 2030.
About MIGA :
• Established : 12 April 1988
• Headquarters : Washington, D.C., United States
• MIGA is an international financial institution which offers political risk insurance and credit
enhancement guarantees.
• It is a member of the World Bank Group .
About ISA :
• Headquarters : Gurugram, Haryana, India
• Director General : Dr. Ajay Mathur
RBI rejects Canara Bank's bid for credit card subsidiary amid concerns
• Current Operations: Canara Bank currently issues credit cards under its own name.
• Proposal: The bank approached the Reserve Bank of India (RBI) to set up a non-banking
financial company (NBFC) to manage its credit card business.
• Objective: Canara Bank aimed to bring more focus and specialization to its credit card offerings,
enhancing its competitiveness in the market.
About Canara Bank:
• Founded: 1906
• Headquarters: Bengaluru, Karnataka, India
• MD & CEO: K. Satyanarayana Raju
• Tagline: "Together We Can"
The 54th meeting of the Goods and Services Tax Council chaired by Finance Minister Nirmala
Sitharaman concluded in New Delhi
• Key Decisions from the 54th GST Council Meeting:
• Reverse Charge Mechanism (RCM) for Commercial Property:
• Renting of commercial property by an unregistered person to a registered person will now fall under
the Reverse Charge Mechanism (RCM) to prevent revenue leakage.
• Under the RCM, the GST liability shifts from the supplier (landlord) to the recipient (tenant) of
commercial rental services.
Bank of Baroda receives a 2.8X subscription for its ₹5,000 cr infra bond issuance
• Bond Issuance Details:
o Date: September 9, 2024.
o Amount Raised: Rs 5,000 crore.
o Coupon Rate: 7.26% per annum.
o Type: Long-term, 10-year infrastructure bonds.
• Investor Response:
o Total Demand: Rs 14,215 crore from 105 bids.
o Strong demand allowed pricing at a competitive rate of 7.26% per annum.
About Bank of Baroda:
• Founded: July 20, 1908
• Headquarters: Vadodara, Gujarat, India
• MD & CEO: Debadatta Chand
• Tagline: "India’s International Bank"
Union Bank of India becomes first major Indian Bank to sign Partnership for Carbon Accounting
Financials (PCAF)
• Union Bank of India has announced its decision to join the Partnership for Carbon Accounting
Financials (PCAF), an international alliance of financial institutions dedicated to standardizing the
measurement and disclosure of greenhouse gas emissions related to loans and investments.
• Commitment to Climate Risk Management: By joining PCAF, Union Bank of India aligns itself
with global efforts to measure and manage financed emissions, which are crucial for
understanding and mitigating climate risks in banking.
About Union Bank of India:
• Founded: November 11, 1919
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: A. Manimekhalai
• Tagline: "Good People to Bank With"
Securities and Exchange Board of India Forms 22-Member Expert Committee on Listing Obligations
• The Securities and Exchange Board of India (SEBI) has set up a 22-member advisory committee
to streamline the rules for listing obligations and disclosures.
• The committee is chaired by R Gandhi, former Deputy Governor of the Reserve Bank of India
(RBI).
• It was formed on August 28, 2024.
About SEBI :
Airtel Payments Bank Teams Up with Noise and National Payments Corporation of India to Launch
National Common Mobility Card -Enabled Smartwatch
• Airtel Payments Bank has collaborated with wearables maker Noise and the National Payments
Corporation of India (NPCI) to launch a National Common Mobility Card (NCMC)-enabled
smartwatch integrated with the RuPay chip.
• The smartwatch, developed by Noise, allows users to perform NCMC-enabled tap and pay
transactions, bringing payment capabilities directly to the user's wrist.
About Airtel Payments Bank :
• MD & CEO : Anubrata Biswas
• The company is a subsidiary of Bharti Airtel.
• On 5 January 2022, it was granted the scheduled bank status by the Reserve Bank of India
under the second schedule of RBI Act, 1934.
SBI Life Insurance Launches Digital Film to Support Indian Athletes for Paralympic Games Paris 2024
• SBI Life Insurance has unveiled a new digital film to support the Indian contingent for the
Paralympic Games Paris 2024.
• The film aims to highlight the inspiring stories of para athletes: Simran Sharma (runner), Ashok
Malik (powerlifter), and Mona Agarwal (shooter), showcasing their indomitable resolve.
• The digital film embodies the theme of 'IRADDE', reflecting the athletes' determination and aligns
with SBI Life’s philosophy, 'Apne Liye, Apno Ke Liye'.
About SBI Life Insurance :
• MD & CEO : Mr. Amit Jhigran
• It was incorporated in October 2000 and was registered with the Insurance Regulatory and
Development Authority of India (IRDAI) in March 2001.
• It is a joint venture between State Bank of India (SBI) and French financial institution BNP
Paribas Cardif.
Federal Bank Unveils India's First Facial Recognition Payment System, SmilePay™
• India’s Federal Bank has launched SmilePay™, a facial authentication technology that will
enable customers to complete transactions using only their faces.
• It is a first-of-its-kind payment solution in India, utilising advanced facial authentication technology
and built on UIDAI’s BHIM Aadhaar Pay.
• The product eliminates the need for traditional payment methods, offering unmatched
convenience for customers and enhanced efficiency for merchants.
About Federal Bank :
• Headquarters : Aluva, Kochi, Kerala, India
• MD & CEO : Shyam Srinivasan
Aditya Birla Capital Digital Unveils DigiGold Gifting, Family Health Scan, and SIMPLiNVEST at GFF
2024
• Aditya Birla Capital Digital Limited ("ABCDL"), the digital-first arm of India's leading financial
services conglomerate, Aditya Birla Capital, announced the launch of a suite of three new
product offerings - DigiGold Gifting, Family Health Scan and SIMPLiNVEST on ABCD,
omnichannel D2C platform at the Global Fintech Festival.
• These new offerings are aimed at providing users with a more personalized and convenient
digital financial experience, making "Everything Finance as Simple as ABCD".
State Bank of India launches 3 new services for daily commuters

• The State Bank of India (SBI) introduced three new offerings targeting the daily commuters.
• These include the India's first MTS card -MTS RuPay NCMC prepaid card, which provides an
offline payment solution; the One View mobile app, a one-stop solution to manage all SBI NCMC
prepaid cards; and an advanced design for SBI FASTag that reduces travel time for commuters.
• The MTS RuPay NCMC prepaid card is designed to offer a seamless, offline payment solution
for all NCMC-enabled transit projects, including metro rails, buses, ferries, tolls, and parking.
About SBI :
• Chairman : Challa Sreenivasulu Setty
India Post Payments Bank celebrates 7th Foundation Day

• India Post Payments Bank (IPPB), a key player in driving financial inclusion across the country,
celebrated its 7th Foundation Day (IPPB Day) on 1st September, 2024.
• Since its nation-wide roll-out in 2018 by Prime Minister Narendra Modi, the IPPB has been at the
forefront of transforming India's financial landscape by providing accessible, affordable and
trusted digital banking services to underserved and unbanked families at their doorstep.
About India Post Payment Bank :
• Established : September 01, 2018
• Chairman : Smt. Vandita Kaul
• MD & CEO : Shri R. Viswesvaran
• India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry
of Communication with 100% equity owned by the Government of India.
HDB Financial Services Becomes First Non-Banking Financial Company to Integrate NPCI's e-KYC
Setu System
• HDB Financial Services (HDBFS), is the first non-banking financial company (NBFC) to integrate
the National Payments Corporation of India (NPCI)'s e-KYC Setu System.
• This integration sets a new industry benchmark for the NBFC sector.
About HDBFS :
• HDB Financial Services, a subsidiary company of HDFC Bank, is one of the biggest NBFC in the
country who provides a variety of loans and finance to the people.
South Indian Bank Partners with Sohan Lal Commodity Management to Launch ‘Unified Collateral
Management Solutions
• South Indian Bank and Sohan Lal Commodity Management (SLCM) have announced a
collaboration to deliver “Unified Collateral Management Solutions,” aimed at supporting farmers
and other stakeholders within the agricultural ecosystem.
• This collaboration will facilitate access to post-harvest credit at competitive interest rates, while
also providing scientific storage services and ensuring fair commodity pricing at marketplaces
(mandis).
• The partnership is aimed to tackle key challenges in the agricultural sector, particularly in post-
harvest storage and financing.
About South Indian Bank :

• Founded : 1929
• Headquarters : Thrissur, Kerala, India
• MD & CEO : P R Seshadri
Indian Rupee Second-Worst Performing Asian Currency in August 2024 Due to High Dollar Demand
and Equity Outflows
• The Indian rupee was the second-worst-performing Asian currency in August 2024 after the
Bangladeshi taka due to strong dollar demand and outflows from domestic equities.
• It depreciated by 0.2% during the month.
• The two were the only Asian currencies that experienced a decline against the US dollar over the
month.
World Bank advises India to reassess RCEP decision to achieve $1 trillion export target
• The World Bank, urged India to re-evaluate its regional integration strategy, including its decision
not to join the Regional Comprehensive Economic Partnership (RCEP), as part of its plan to
achieve the $1 trillion export target by 2030.
• India has opted out of major trade agreements like RCEP, while neighbouring countries like
Bangladesh and Sri Lanka have shown interest in joining this East Asian trade and global value
chain (GVC) hub
• Re-evaluating Trade Strategy: As other South Asian economies explore trade agreements
outside the region, India may need to reassess its position on regional integration, particularly
regarding RCEP.
About World Bank :
• Established : July 7, 1944
• Headquarters : Washington, D.C., United States
• President : Ajay Banga
UPI Sees 37% Surge in Transactions, Reaching ₹80.8 Lakh Crore ($964 Billion) from April-July 2024
• Unified Payments Interface (UPI), which has emerged as the world's most popular alternative
payments method (APM), processed transactions to the tune of ₹80.8 lakh crore ($964 billion) in
April-July 2024, a sharp 37% year-on-year (y-o-y) surge compared to the same timeframe the
previous year.
• Transactions on UPI totalled Rs 20.64 lakh crore in July this year or about $247 billion.
• Skrill has emerged as the second-most popular alternative payment method in the world.
About UPI :
• UPI, developed by the National Payments Corporation of India (NPCI) and regulated by the
Reserve Bank of India (RBI), has enhanced financial accessibility since its launch in 2016.
Tata AIA Life Insurance Launches USD Life Insurance Solutions for Non-Resident Indians
• Tata AIA Life Insurance Company Limited, one of India’s leading life insurance agencies, has
launched its offshore branch at Gujarat International Finance Tech-City (GIFT City), India’s first
International Financial Services Centre (IFSC).
• The branch aims to provide non-resident Indians (NRIs) with US dollar-denominated life
insurance through its website.
About Tata AIA Life Insurance Company Limited :
• CEO : Venkatachalam Iyer
• Tata AIA is a joint venture by Tata Sons Pvt. Ltd. and AIA Group Ltd. (AIA).
Mastercard Launches Global Payment Passkey Service to Enhance Security and Ease of Online
Shopping
• Mastercard has announced the worldwide launch of its new Payment Passkey Service to
enhance the security and convenience of online shopping.
• The service has been introduced in India as a pilot program with major payment players,
including payment aggregators Juspay, Razorpay, and PayU, as well as online merchants like
Bigbasket and banks such as Axis Bank.
• Payment passkeys use device-based biometric authentication methods, such as fingerprints or
facial scans, to streamline online shopping experiences.
About Mastercard :
• Founded : 1966
• Headquarters : New York, United States
• CEO : Michael Miebach
POP Introduces India’s First Multi-Brand Co-Branded Card in Collaboration with RuPay and Yes Bank
• POP, a fintech enabler for direct-to-consumer brands started by former Flipkart employees, has
introduced India’s first multi-brand co-branded credit card developed in collaboration with RuPay
and Yes Bank.
• This launch coincides with POP surpassing one million UPI transactions and aims to leverage the
power of the RuPay network to make credit on UPI easier for its network of users.
• The credit card was launched at the Global Fintech Festival (GFF) in the presence of Mr. Nalin
Bansal- Chief of Corporate and Fintech Relationships at NPCI and Mr. Amit Sinha- Head of credit
card sales and partnerships at Yes Bank.
RBL Bank Partners with Indian Oil Corporation Limited to Launch New Fuel Credit Card
• RBL Bank has launched the 'Xtra Credit Card' in partnership with Indian Oil Corporation (IOCL),
providing customers with fuel savings.
• The Card offers customers 8.5% savings on fuel purchases, the highest in the segment
compared to other co-branded fuel credit cards.
• Earning Fuel Points: Customers can earn 15 fuel points for every ₹100 spent, with a cap of 2,000
points per month.
• Expected Portfolio Growth: After partnering with IOCL, RBL Bank expects its credit card portfolio
to grow by 12-15% in the current fiscal year, lower than the industry growth of 20-25%.
About RBL Bank :

• Founded : August 1943
• MD & CEO : R Subramaniakumar
State Bank of India Plans to Raise Up to ₹7,500 Crore Through Tier-2 Bonds
• State Bank of India (SBI) is expected to raise up to ₹7,500 crore through the issuance of tier-2
bonds.
• The funds raised will be used to meet regulatory requirements and support business growth,
addressing the gap between credit demand and deposit accretion.
• September 19.
• Base Size: The base size of the bond issuance is expected to be between ₹3,500 crore and
₹4,000 crore.
About SBI :
• Founded : 1 July 1955
Reserve Bank of India Imposes ₹1.91 Crore Fine on Axis Bank and ₹1 Crore Penalty on HDFC Bank
• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.91 crore on Axis Bank
Limited.
• The penalty is for contravention of provisions under Section 19 (1) (a) of the Banking Regulation
Act, 1949 (BR Act), and non-compliance with RBI directions on:
• Interest Rate on Deposits
• Know Your Customer (KYC)
• Credit Flow to Agriculture - Collateral-Free Agricultural Loans
• The penalty is imposed under Section 47 A (1) (c) read with Section 46 (4) (i) of the BR Act.
Reserve Bank of India Announces Loan Eligibility for Resident Overseas Citizens of India Cardholders
for Overseas Education
• The Reserve Bank of India (RBI) has clarified to banks that Overseas Citizens of India (OCI)
cardholders are eligible for education loans for studies abroad, provided they are residing in
India.
• The Reserve Bank of India (RBI) defines an Overseas Citizen of India (OCI) as a foreign national
of Indian origin who is registered as an OCI cardholder under Section 7(A) of the Citizenship Act,
1955.
• The OCI scheme was introduced in 2005 to address the demand for dual citizenship for
individuals of Indian origin.
Deposit Insurance and Credit Guarantee Corporation Introduces Daava Soochak Tool to Help
Depositors Monitor Claim Status
• The Deposit Insurance and Credit Guarantee Corporation (DICGC) has introduced an online tool
named Daava Soochak, designed for depositors to track the status of their insurance claims.
• Since its inception, DICGC has been responsible for reimbursing insured amounts to depositors
of banks that have failed.
• Daava Soochak, a user-friendly online tool, is part of DICGC's ongoing commitment to improving
the services provided for depositors.
About DICGC :
• Formed : 1978
• DICGC is a specialised division of the Reserve Bank of India which is under the jurisdiction of the
Ministry of Finance, Government of India.
• It was established under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 for
the purpose of providing insurance of deposits and guaranteeing of credit facilities.
RBI Fines 3 Housing Finance Companies ₹13.50 Lakh, Including Godrej Housing Finance, Aadhar
Housing Finance, and Housing and Urban Development Corporation Limited
• The Reserve Bank of India (RBI) has imposed monetary penalties on three Non-Banking
Financial Companies (NBFCs) for non-compliance with RBI directions related to housing finance
companies.
• Godrej Housing Finance Limited: Penalized ₹5,00,000 for non-compliance with the ‘Non-Banking
Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021’.
• Aadhar Housing Finance Limited: Penalized ₹5,00,000 for non-compliance with the ‘Non-Banking
Financial Company - Housing Finance Company (Reserve Bank) Directions, 2021’.
PayMate Teams Up with NPCI Bharat BillPay Limited to Introduce BBPS-B2B Platform for
Revolutionising Business Payments and Financing in Digital India
• PayMate, India's leading digital B2B payments company, has announced its partnership with
NPCI Bharat BillPay Limited. (NBBL) to launch the innovative PayMate BBPS-B2B platform.
• The BBPS-B2B platform aims to standardise and digitize commercial processes related to
invoicing, payments, and collections on a large scale across the nation.
About PayMate :
• Founded : May 2006
• Founder, MD & CEO : Ajay Adiseshann
AU Small Finance Bank and United India Insurance Sign Agreement to Offerr Insurance Products
• AU Small Finance Bank (AU SFB) and state-owned United India Insurance Company (UIIC)
announced a strategic partnership to distribute general insurance solutions to the bank's
customers.
• Insurance Products Offered:The partnership will provide a range of insurance products including
motor insurance, personal accident insurance, crop insurance, property insurance, shopkeeper
insurance, and cyber incident insurance.
About AU Small Finance Bank :
About UIIC :
• Founded : 18 February 1938
• Chairman & MD : Bhupesh Sushil Rahul
Securities and Exchange Board of India Revises Margin Trading Framework to Ease Collateral
Requirements
• The Securities and Exchange Board of India (SEBI) has revised the framework for margin trading
facilities (MTF) to reduce the burden of additional collateral.
• Cash Collateral as Maintenance Margin:Securities funded through cash collateral can now be
considered as maintenance margin for MTF.
• If a broker uses cash collateral received from a client to meet settlement obligations with the
clearing corporation (CC), this collateral can be treated as a maintenance margin.
• Effective Date:The new rules will come into effect from October 1, 2024.
•
About SEBI :
Small Finance Banks Increasing Focus on High Deposit Rates

• More than seven small finance banks (SFBs) have increased their fixed deposit (FD) rates to
above 8% for two-year tenures in competition with major banks like State Bank of India (SBI) and
HDFC Bank.
• SFBs are offering 100-125 basis points higher on FDs than they did a year ago and
approximately 120 basis points more than what big banks like SBI and HDFC Bank currently
offer.
• Current Offers:Utkarsh SFB and Suryoday SFB: Offering 8.5% on two to three-year tenures.
Bank of Baroda Approves Resolution Plan for Supertech's Dehradun Project
• Bank of Baroda, one of the lenders in Supertech Group has approved and sanctioned the
resolution plan for company’s Dehradun project paving way for delivery of over 600 homebuyers.
• Supertech submitted a project-wise resolution plan to the National Company Law Appellate
Tribunal (NCLAT), and this is the first project to receive lender approval.
• The bank has consented to the inclusion of a co-developer in the Dehradun project.
• Kotak Investment Advisors Ltd (KIAL) is investing ₹450 crore into Supertech’s stalled Noida
project, providing significant financial support.
About Bank of Baroda :

• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand
• Tagline : India's International Bank
Finance Ministry Revises Compounding Rules for Foreign Exchange Management Act Offences
• The Finance Ministry has come out with new rules for processing of compounding applications
under the Foreign Exchange Management Act (FEMA).
• The new rules aim to further promote ease of investment.
• The rules follow Finance Minister Nirmala Sitharaman’s Budget announcement to streamline
Foreign Direct Investments (FDIs) and overseas investments.
• The new rules will replace the Foreign Exchange (Compounding Proceedings) Rules, 2000,
which had been in effect for nearly 24 years.
Reserve Bank of India to Maintain Higher Requirement for Digitally-Linked Deposit Buffer
• The Reserve Bank of India (RBI) proposed that banks hold an additional 5% "run-off factor" on
digitally accessible retail deposits to manage risks of mass withdrawals via digital platforms like
internet or mobile banking.
• The new rules are scheduled to take effect in April 2025.
• Impact on Banks' Liquidity Coverage Ratio (LCR):The additional buffer is expected to impact
banks' Liquidity Coverage Ratios (LCR), which represent the amount of highly liquid assets
available to meet short-term obligations.
HDFC Bank in Discussions with Global Lenders to Offload $1 Billion in Loans

• HDFC Bank Ltd., India’s largest private sector lender, is in talks with several global banks to
offload as much as Rs 8,400 crore ($1 billion) in loans to reduce its credit book and bring it more
in line with deposits.
• The bank is in discussions with several global lenders, including Barclays Plc, JPMorgan Chase
& Co., and ICICI Bank.
• Sale Terms:The loan portfolio sale is planned to be executed through a pass-through certificate,
a type of debt instrument. The final terms of the sale are yet to be decided.
About HDFC Bank :
• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World
Reserve Bank of India Cancels Treasury Bill Auction for the Remainder of September 2024
• According to the Calendar for Auction of Government of India Treasury Bills for the Quarter
ending September 2024, the auctions were initially scheduled for September 18, 2024, and
September 25, 2024.
• The Reserve Bank of India (RBI), in consultation with the Government of India, has decided to
cancel the T-bill auctions scheduled for September 18, 2024, and September 25, 2024.
• The Government of India has reduced its borrowings via Treasury Bills by approximately ₹50,000
crore for the current fiscal year.
About RBI :
• Governor : Shaktikanta Das
• Deputy Governors : Shri M. Rajeshwar Rao, Shri Swaminathan J, Shri T. Rabi Sankar, Dr. M.D.
Patra
State Bank of India Approves ₹10,050 Crore Loan for Damodar Valley Corporation’s Proposed 1600
MW Ultra Super Critical Thermal Power Project in Jharkhand
• State Bank of India (SBI) has sanctioned ₹10,050 crore to Damodar Valley Corporation (DVC) for
its ultra-supercritical thermal power project.
• The project involves the construction of a 1600 MW (800 MW * 2) ultra-supercritical thermal
power plant located at Koderma, Jharkhand.
• DVC is India's first multipurpose river valley project, established by the Damodar Valley
Corporation Act, 1948.
About SBI :

Insurance Regulatory and Development Authority of India Fines SBI Life Insurance ₹1 Crore for
Breaching Regulations on Web Aggregators and Outsourcing Activities
• The Insurance Regulatory and Development Authority of India (IRDAI) has fined SBI Life
Insurance ₹1 crore for regulatory violations.
• The violations pertain to SBI Life Insurance's dealings with insurance web aggregators and its
outsourcing activities.
• IRDAI has issued an advisory to SBI Life Insurance regarding the repudiation of multiple
insurance claims.
About IRDAI :
• Headquarters : Hyderabad, Telangana
• Chairperson : Debasish Panda
• The IRDAI is a statutory body under the jurisdiction of the Ministry of Finance (MoF), Government
of India (GoI) and is tasked with regulating and licensing the insurance and reinsurance
industries in India.
About SBI Life Insurance :
• Founded : March 2001
• MD & CEO : Amit Jhigran
State Bank of India plans to raise up to ₹7,500 crore through second tranche of Tier-II bonds
• The State Bank of India (SBI) plans to raise up to ₹7,500 crore through the issuance of a second
tranche of Tier-II bonds.
• Bond Details: The bonds have a maturity period of 15 years.
• The issuance includes a base size of ₹4,000 crore with an additional greenshoe option of ₹3,500
crore.
• Credit Rating: The bonds are rated "AAA" by ICRA and India Ratings and Research, indicating
high credit quality.
About SBI :

Bank of Baroda to roll out 7 phygital branches as a pilot project

• Bank of Baroda (BoB) is planning to launch 7 phygital branches as a pilot project across the
country.
• These branches integrate self-service and assisted service models.
• The first phygital branch was opened at Horniman Circle, Mumbai in July.
• The second branch was inaugurated at Vile Parle, Mumbai, and another branch at Chanda
Nagar, Hyderabad.
About BoB :
S&P Global Ratings predicts SBI's cost-to-income ratio will drop to 54-55% in the next two years
• State Bank of India’s (SBI’s) cost-to-income (C/I) ratio sharply increased to 60% in FY24 from
56.2% in FY23 due to higher employee expenses.
• S&P Global Ratings forecasts that SBI’s C/I ratio will normalize to 54-55% over the next two
years as the bank improves operating efficiency and leverages digital platforms.
• The risk-adjusted capital (RAC) ratio is expected to stay moderate at 5.5-6.0% over the next two
years, compared to 5.9% as of March 31, 2024.
• SBI's credit cost is expected to remain under 1% due to low asset quality risks.
• Credit Rating:S&P Global has affirmed SBI’s issuer credit rating at “BBB-/Positive.”
Outward FDI Increases by $1 Billion in August, 2024: RBI Data
• According to Reserve Bank of India (RBI) data, India's outward foreign direct investment (FDI)
commitments rose by $1 billion to $3.21 billion in August 2024, up from $2.29 billion in August
2023.
• Sequential Growth: Outbound FDI commitments increased from $3 billion in July 2024.
• Three Components: Outward FDI commitments are classified into three categories: equity, loans,
and guarantees.
Life Insurance Corporation of India Increases Its Stake in Indian Railway Catering and Tourism
Corporation to Approximately 9.3%
• Life Insurance Corporation of India (LIC) increased its stake in Indian Railway Catering and
Tourism Corporation (IRCTC) to approximately 9.3%.
• LIC's stake in IRCTC grew by 2.02% between December 16, 2022, and September 11, 2024,
through open market purchases.
About IRCTC :
• Chairman & MD : Sanjay Kumar Jain
• IRCTC was established in 1999 by the Government of India and operates under the Ministry of
Railways.
• IRCTC is a 'Miniratna' public sector undertaking (PSU) that provides services such as ticketing,
catering, and tourism for Indian Railways.
Reserve Bank of India Fines BNP Paribas and Three Other Banks for Compliance Failures
• The Reserve Bank of India has imposed a penalty of Rs 31.8 lakh on BNP Paribas for non-
compliance with certain directions issued by RBI on ‘Interest Rate on Advances’.
• This penalty has been imposed in the exercise of powers conferred on RBI under the provisions
of Section 47 A (1) (c) read with Sections 46 (4) (i) of the Banking Regulation Act, 1949.
Penalty on Hewlett Packard Financial Services (India) Private Limited:
• Amount: ₹10.4 lakh
• Reason: Non-compliance with RBI's 'Know Your Customer (KYC) Directions, 2016,' 'Non-
Banking Financial Company - Systemically Important Non-Deposit taking Company and Deposit
taking Company (Reserve Bank) Directions, 2016,' and 'Master Direction - Information
Technology Framework for the NBFC Sector.'
Penalty on Muthoot Vehicle & Asset Finance Limited:
• Reason: Non-compliance with RBI's 'Liquidity Risk Management Framework for Non-Banking
Financial Companies and Core Investment Companies' and 'Non-Banking Financial Company -
Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve
Bank) Directions, 2016.'
Penalty on SMFG India Credit Company Limited (formerly Fullerton India Credit Company Limited):

• Reason: Non-compliance with 'Master Direction - Information Technology Framework for the
NBFC Sector' and directions relating to cyber security measures.
Reserve Bank of India to Overhaul Currency Management Infrastructure to Meet Future Cash Demands
• The Reserve Bank of India (RBI) plans to comprehensively revamp its currency management
infrastructure over the next 4-5 years to meet future cash demands of the growing economy.
• Project Timeline: The entire project is expected to be completed within 4-5 years, as per RBI's
expression of interest (EoI) document.
• CIC Growth:Coins in Circulation (CIC) volume also increased to 132.35 bpcs by March 31, 2024,
from 127.92 bpcs a year earlier.
National Payments Corporation of India Raises Unified Payments Interface Transaction Limit for Tax
Payments to ₹5 Lakh per Transaction
• The National Payments Corporation of India (NPCI) has increased transaction limits for tax
payments using the Unified Payments Interface (UPI), allowing people to transfer Rs 5 lakh in a
single transaction.
• This service is only applicable for tax payments only.
• The increase in the transaction limit aims to facilitate smoother and larger tax payments through
UPI, addressing the growing use of UPI as a payment method.
• Applicability: The Rs 5 lakh limit applies exclusively to tax payments.
PhonePe and Liquid Group Partner to Expand UPI QR Payment Services in Singapore
• PhonePe, a Walmart group fintech firm, partnered with Liquid Group, a cross-border payment
solutions provider, to expand its merchant acceptance network in Singapore.
• The partnership enables PhonePe users traveling to Singapore to scan and pay using the app at
Liquid Group's merchants.
• QR codes will be available at tourist-centric locations, such as Changi Airport, duty-free shops,
restaurants, bars, retailers (e.g., The Cocoa Trees, Hard Rock Cafe), sightseeing spots, and
transportation services.
About Phonepe :
• Founded : 2015
• Headquarters : Bangalore, Karnataka

• CEO : Sameer Nigam
Union Finance Minister Smt. Nirmala Sitharaman to Unveil NPS Vatsalya Scheme on September 18,
2024
• In pursuance of the announcement in the Union Budget 2024-25, Union Minister for Finance and
Corporate Affairs Smt. Nirmala Sitharaman will launch the NPS Vatsalya scheme on September
18, 2024, in New Delhi.
• Online Platform: An online platform will be introduced for subscribing to NPS Vatsalya.
• Scheme Brochure: The brochure of the scheme will be released.
• PRAN Cards: Permanent Retirement Account Number (PRAN) cards will be distributed to new
minor subscribers.
• Finance Secretary : Tuhin Kanta Pandey
Money view Becomes 2024's Sixth Unicorn After Securing $4.6 Million in Funding
• Fintech start-up Moneyview became the sixth unicorn in 2024 after raising $4.6 million (INR 38.6
Cr) from Accel India and Nexus Ventures.
• After approval from the company's board, 60.23 lakh equity shares were allotted to Accel India
and Nexus Ventures.
• Compared to 2023, there has been an increase in the number of unicorns in 2024.
• In 2023, only two unicorns were created, which include quick commerce start-up Zepto and
fintech start-up InCred Finance.
About Moneyview :
• Founded : 2014
• Founders : Puneet Agarwal and Sanjay Aggarwal.
Securities and Exchange Board of India fast-tracks credit, trading of bonus shares to T+2 days
• The Securities and Exchange Board of India (SEBI) has decided to shorten the time taken for
credit of bonus shares and their subsequent trading to two days from the record date.
• This new rule will apply to all bonus issues announced from October 1.
• Timeline Details:Credit of Bonus Shares: Bonus shares will be credited to investor accounts one
working day after the record date (T+1).
About SEBI :
• Established: 12 April 1988 as an executive body and was given statutory powers on 30 January
• Headquarters: Mumbai, Maharashtra
• Chairman: Madhabi Puri Buch
the Ministry of Finance, GoI
Axis Bank Expands Wealth Management Services to 15 Additional Cities

• Axis Bank is expanding its private banking business, Burgundy Private, to 15 new cities.
• This expansion will increase Burgundy Private's presence to 42 locations across India.
• Purpose and Focus:The expansion aims to provide bespoke wealth management services to
clients in India's Tier 2 markets.
• New Locations:The new cities include Bhubaneswar, Patna, Raipur, Agra, Ghaziabad, Jodhpur,
Udaipur, Jalandhar, Meerut, Belgaum, Kozhikode, Thiruvananthapuram, Aurangabad, Nagpur,
and Gandhidham.
About Axis Bank :
• Headquarters: Mumbai, Maharashtra, India
• MD & CEO: Amitabh Chaudhry
HDFC Bank Aims to Increase Income for 5 Lakh Marginal Farmers by 2025 Through Parivartan CSR
Initiative
• The country's biggest private sector lender, HDFC Bank, looks to increase the income of 5 lakh
marginal farmers earning less than Rs 60,000 annually by 2025 as part of its corporate social
responsibility (CSR) initiative, Parivartan.
• Parivartan Overview: Launched in 2014, Parivartan is one of India's largest CSR programs,
active in 28 states and 8 Union Territories, with a focus on rural development and sustainable
livelihoods.
• CSR Expenditure: HDFC Bank has spent ₹5,100 crore on CSR activities over the last decade,
and reported a CSR spend of ₹945.31 crore for FY 2023-24.
About HDFC Bank :
• Founded : 1st July 2023 (via the merger between HDFC-HDFC bank)
• MD & CEO : Sashidhar Jagdishan
• Tagline : We Understand Your World
Life Insurance Corporation of India Chooses Infosys for Advanced Digital Insurance Platform
Development
• The Life Insurance Corporation of India (LIC) has selected IT major Infosys to develop its
NextGen digital platform.
• This platform will be a comprehensive end-to-end digital insurance solution aimed at providing
excellent customer services, sales lifecycle management, and operational support for employees
and intermediaries.
• The NextGen Digital Platform will be modular, flexible, cloud-native, and have platform driven
architecture which will be capable of quickly adopting innovative technologies, new products and
features.
About LIC :
• CEO and MD : Siddhartha Mohanty
Securities and Exchange Board of India Approves Tenfold Increase in NSE's Share Capital
• The Securities and Exchange Board of India (SEBI) has approved amendments to the National
Stock Exchange (NSE) memorandum of association, allowing a 10-fold increase in authorised
share capital to ₹500 crore.
• This move will pave the way for the bourse's proposed bonus issue.
• This increase also provides flexibility if the exchange decides to issue fresh shares during its
public offering.
• On August 27, the NSE board also sought a no-objection certificate (NOC) from Sebi to move
forward with its IPO, which has been delayed due to ongoing regulatory matters, including the co-
location case.
About NSE :
• Founded : 1992
• Location : Mumbai, Maharashtra, India
• Chairman : Girish Chandra Chaturvedi
• MD & CEO : Ashishkumar Chauhan
• NSE is under the ownership of various financial institutions such as banks and insurance
companies.
ICRA ESG Ratings Issues First Rating to InCred Financial Services

• ICRA ESG Ratings Limited has assigned its first Environmental, Social, and Governance (ESG)
rating to InCred Financial Services, a Non-Banking Financial Company (NBFC).
• ICRA ESG Registration:ICRA ESG received registration as a Category-I ESG Rating Provider
(ERP) from the Securities and Exchange Board of India (SEBI) earlier this fiscal year.
• ICRA ESG was previously known as Pragati Development Consulting Services Limited (PDCSL).
About ICRA Limited :
• Founded : 1991
• Headquarters : Gurgaon, India
• MD & Group CEO : Ramnath Krishnan
Star Health and Policybazaar Introduce 'SUPER STAR': A Modular Long-Term Health Insurance Plan
• Star Health and Allied Insurance Company Limited (Star Health Insurance) and Policybazaar
announced the launch of 'SUPER STAR', a personalised long-term health insurance plan which
is customer-centric in nature with an objective of delivering greater customer value.
About Policybazaar :
• Founded : July 2008
• Headquarters : Gurgaon, Haryana
About Star Health and Allied Insurance Co Ltd :
• Founded : 2006
• MD & CEO : Mr. Anand Roy
AU Small Finance Bank and Kotak Life Partner to Provide Life Insurance and Financial Security
Solutions
• AU Small Finance Bank (AU SFB) and Kotak Life announced a partnership to offer life insurance
and financial security solutions.
• This collaboration is a continuation of Kotak Life’s previous relationship with the former Fincare
Small Finance Bank, which is now merged with AU SFB.
• This partnership enables AU SFB’s new and existing customers, including those from former
Fincare SFB branches, to access Kotak Life’s full range of life insurance products, such as term,
retirement, savings, and select investment plans.
About AU SFB :
• Founded : 1996
• AU Small Finance Bank Limited (AU SFB) is a scheduled commercial bank and has established
itself as the largest SFB in India since starting its banking journey in April 2017.
About Kotak Mahindra Life Insurance Company Limited :
• Founded : 2001
• Chairman : Uday Kotak
• MD : Mahesh Balasubramanian
• Kotak Mahindra Life Insurance Company Limited (Kotak Life) is a 100% owned subsidiary of
Kotak Mahindra Bank Limited (Kotak). Kotak Life provides insurance products with high customer
empathy.
Asian Development Bank Pledges $2 Billion in Annual Loans to Support Cash-Strapped Pakistan:
Report
● The Asian Development Bank (ADB) has assured Pakistan of providing $2 billion annually in new
loans from 2024 to 2027, totalling $8 billion over four years.
● ADB President Masatsugu Asakawa gave the assurance during his visit and interaction with
Pakistani authorities.
● Loan Terms:Out of the $2 billion annual loan, $1 billion will be provided at a fixed 2% interest rate
under ADB’s concessional window.
About ADB :
● Established: 1966
● Headquarters: Manila, Philippines
● President : Masatsugu Asakawa
● Membership: 68 members, including 49 regional members (countries in Asia and the Pacific) and
19 non-regional members (countries outside the region)
World Bank Commits Additional USD 2 Billion to Support Key Reforms in Bangladesh
● The World Bank pledged an additional $2 billion in financing to Bangladesh during this fiscal year
to support critical reforms, flood response, air quality improvement, and healthcare.
● Abdoulaye Seck, World Bank Country Director, made the pledge during his meeting with Chief
Adviser Muhammad Yunus at the State Guest House Jamuna in Dhaka.
● World Bank Commitment:The World Bank is committed to increasing lending to Bangladesh to
support the reform agenda of the Interim Government.
About World Bank :
● Established : July 7, 1944
● Headquarters : Washington, D.C., United States
● President : Ajay Banga
State Bank of India secures ₹7,500 crore through Tier-2 bonds at a 7.33% interest rate
• The State Bank of India (SBI) raised ₹7,500 crore through its second Basel III-compliant Tier-2
bond issuance of the current fiscal year.
• The bonds have a coupon rate of 7.33% and a 15-year maturity with a call option after 10 years
and on each anniversary thereafter.
• It attracted bids more than three times the base issue size of ₹4,000 crore.
• This earlier issuance also carried a AAA rating with a stable outlook from CRISIL Ratings and
CARE Ratings.
• Total Fundraising for FY:For the current financial year, SBI has raised a total of ₹15,000 crore
through Basel III-compliant Tier-2 bonds.
About SBI :
Bank of Baroda Launches GenAI-Powered Virtual Relationship Manager for Conversational Banking
• Bank of Baroda (BoB) has introduced ‘Aditi’, a GenAI-powered virtual relationship manager, to
enhance the digital customer service experience.
• Aditi offers conversational banking through digital avatars with human-like interfaces.
• Available on BoB’s web portal, Aditi supports audio, video, and chat-based assistance, providing
24x7 banking services with multilingual support.
• 'GyanSahay.AI' Knowledge Management Platform:BoB also launched a GenAI-enabled
knowledge management platform called ‘GyanSahay.AI’ for its employees.
About BoB :
• Established : 20 July 1908
Finance ministry plans 'One State, One RRB' policy to boost efficiency
• The "One State, One RRB" policy, aimed at consolidating Regional Rural Banks (RRBs) for
operational efficiency, is in the drafting phase.
• As per the Department of Financial Services (DFS), draft rules for the policy will be completed by
the end of September 2024.
• S. Venkateshwar Reddy, Secretary General of the AIRRBEA, stated that the policy may
eventually lead to the creation of the National Rural Bank of India, reducing the number of
sponsor banks.
Jana Small Finance Bank launches “Liquid Plus” FD at 6.75% interest rate
• Jana Small Finance Bank has launched a new "Liquid Plus" fixed deposit offering, providing an
interest rate of 6.75% per annum for tenures ranging from 7 to 180 days.
• This rate applies to a minimum deposit of ₹10 lakhs for retail deposits up to ₹3 crores, and for
bulk deposits between ₹3 crores and ₹200 crores per customer.
About Jana Small Finance Bank
• Founded: 2008, Bengaluru
• CEO: Ajay Kanwal (since August 1, 2017)
• President: Buvanesh Tharashankar
• Headquarters: India
Reserve Bank of India Report: Credit and Deposit Growth Gap Narrowing, but Challenges Persist
● According to the latest State of the Economy report released by the Central Bank (RBI), the gap
between credit and deposit growth in banks, which has been a major concern for the Reserve
Bank of India (RBI) over the past two years, is finally narrowing.
● Narrowing Gap Between Credit and Deposit Growth:As of September 6, 2024, the gap between
credit growth and deposit growth in banks has reduced to just over 200 basis points (bps), down
from over 700 bps earlier in 2024.
● Loan growth has moderated to 13.3%, while deposit growth has risen to over 11%.
● Private Credit Market Concerns:Private credit assets under management are estimated to be
around $15 billion.
● Fintech lenders now hold over 52% of the market share in personal loans and are increasingly
turning to private credit for funding.
● Inflation Developments:Headline retail inflation remained below the RBI’s 4% target.
Deadline Approaches for Special Fixed Deposits at SBI, IDBI, and Indian Bank on September 30, 2024
● The deadline for special fixed deposits (FDs) by the State Bank of India (SBI), IDBI, and Indian
Bank is nearing on September 30, 2024 .
● These FDs offer higher interest rates compared to regular FDs.
● Interest Rates:Special FDs are offering 7.05%-7.35% interest for 300-444-day tenures.
● Senior citizens get an additional 50 basis points over the standard interest rate.
● SBI’s Special FDs:Amrit Kalash offers 7.1% interest for a 400-day tenure, with senior citizens
receiving 7.60%.
● Amrit Vrishti offers 7.25% for the general public and 7.75% for senior citizens for a 444-day
tenure. The deadline for this scheme is March 31, 2025.
● IDBI Bank’s Special FDs:The UTSAV Special Deposits offer 7.2%-7.35% interest for 300-700-
day tenures.
Central Board of Direct Taxes issues Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV)
Scheme, 2024
● In pursuance of the announcement in Union Budget 2024-25 by Union Minister for Finance and
Corporate Affairs Smt. Nirmala Sitharaman, the Central Board of Direct Taxes (CBDT) has
notified the Direct Tax Vivad Se Vishwas Scheme, 2024 (referred as DTVSV, 2024) to resolve
pending appeals in the case of income tax disputes.
● The Scheme will come into effect from October 1, 2024.

● The scheme aims to resolve pending income tax disputes and appeals.
● The initiative aims to improve litigation management and reduce the backlog of income tax
disputes.
Department of Financial Services Secretary M. Nagaraju chairs the Conference of Debt Recovery
Appellate Tribunals Chairpersons and Debt Recovery of Tribunals Presiding Officers in New Delhi
● Shri M. Nagaraju, Secretary of the Department of Financial Services (DFS), chaired a conference
of Chairpersons of Debt Recovery Appellate Tribunals (DRATs) and Presiding Officers of Debt
Recovery Tribunals (DRTs) in New Delhi.
● Participants: The meeting was attended by senior officers from public and private sector banks,
the Deputy CEO of the Indian Bank Association (IBA), and senior Ministry of Finance officials.
● DRT Regulations 2024: Introduction of the DRT Regulations 2024, which improve upon the 2015
regulations, aiming to make the recovery process more effective and time-efficient.
Finance Minister Nirmala Sitharaman Unveils NPS Vatsalya Scheme in New Delhi
● Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman launched the National
Pension System Vatsalya (NPS Vatsalya) scheme, ‘a pension scheme for minors’ at New Delhi.
● The NPS Vatsalya was announced by the Union Finance Minister in the Union Budget 2024-25
on 23rd July, 2024.
● The launch of NPS Vatsalya was simultaneously organised at 75 locations throughout the
country, with distribution of over 250 PRAN to minor subscribers.
● Eligibility Criteria:The scheme is available for all minor citizens (under 18 years).
● Both the child and the parent must be Indian citizens, and all parties must meet Know Your
Customer (KYC) requirements.
● Opening Process:Accounts can be established through various Points of Presence regulated by
the Pension Fund Regulatory Authority of India (PFRDA), including major banks, India Post,
pension funds, and online platforms (e-NPS).
● Contribution Details:A minimum annual contribution of ₹1,000 is required, with no maximum
contribution limit.
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhar
● Finance Secretary : Tuhin Kanta Pandey

Bajaj Becomes Third Most Valued Financial Group
● India's financial sector is primarily controlled by large government-owned and private-sector
banks like State Bank of India (SBI), HDFC Bank, and ICICI Bank.
● These institutions dominate across areas like lending, insurance, and asset management.
● Bajaj Group's Rise:Bajaj Group has emerged as the third-largest financial group in India by
market capitalization (mcap), surpassing the SBI Group.
● The high profitability of Bajaj Group's financial arms (Bajaj Finserv, Bajaj Finance, Bajaj Housing
Finance) has fueled its rise.
● Bajaj Housing Finance IPO:Bajaj Housing Finance, listed, more than doubled its market
capitalisation on its IPO day.
● Its stock price surged from the IPO price of ₹825 to ₹1,637.4 on the BSE.
● This added ₹1.36 trillion to the Bajaj Group's total market capitalisation.
● Market Capitalisation (Mcap):The four listed financial entities of Bajaj Group (Bajaj Holdings,
Bajaj Finserv, Bajaj Finance, Bajaj Housing Finance) have a combined mcap of ₹10.36 trillion.
Top 5 Financial Groups by Mcap:
1. HDFC Group: ₹15.75 trillion
2. ICICI Group: ₹11.95 trillion
3. Bajaj Group: ₹10.36 trillion
4. SBI Group: ₹9.60 trillion
5. Axis Bank: ₹3.85 trillion
Punjab & Sind Bank to Raise Up to ₹3,000 Crore Through Infrastructure Bonds, Appoints Bankers
● Public sector lender, Punjab & Sind Bank plans to raise up to ₹3,000 crore through infrastructure
bonds as a cost-effective option amid increasing competition for deposits.
● Other banks:State Bank of India (SBI) raised ₹20,000 crore in two tranches through 15-year infra
bonds.
● Canara Bank raised ₹10,000 crore via 10-year infra bonds at a 7.4% rate.
● Bank of India raised ₹5,000 crore through 10-year bonds at 7.54%.
● Bond Rating:CRISIL has assigned a "AA/Stable" rating to the proposed infrastructure bonds of
Punjab & Sind Bank.
● Domestic Bond Yields:Bond yields softened in August and September 2024, with the 10-year
Indian government security (G-sec) yield ranging between 6.76% and 6.87%.
About Punjab and Sind Bank :

● Established : 24 June 1908
● Headquarters : New Delhi, India
● MD & CEO : Swarup Kumar Saha
Jan-Dhan: A New Avenue for Public Sector Banks to Attract Deposits
● State-owned banks are targeting Jan-Dhan accounts to enhance deposit mobilization amid rising
credit growth and the shift of household savings to higher-yielding instruments.
● The Reserve Bank of India (RBI) and the Finance Ministry have raised concerns about sluggish
deposit growth (11.3%) compared to credit growth (15%) as of August 23, 2024, which may lead
to asset-liability management issues for banks.
● Banks are exploring untapped areas to mobilize deposits without engaging in an interest rate war.
● This includes targeting low-value segments within Jan-Dhan accounts.
Untapped Potential (Jan-Dhan Accounts)
Category Beneficiaries (mn) Deposits (₹ cr) RuPay debit cards

(mn)
Public sector 416 1,77,179.26 314.9

banks
Regional rural 99.3 44,923.22 35.1

banks
Private sector 16.5 6,026.14 13.6

banks
Rural cooperative 1.9 0.01 0

banks
Total 533.7 2,28,994.32 363.6
Jan-Dhan Scheme Overview:

● Launched to provide banking access to unbanked segments through basic savings accounts.
● Features include no minimum balance requirement, interest on deposits, and the issuance of a
RuPay debit card.
Asian Development Bank Recommends Pakistan Implement Indian ULLAS Scheme to Improve
Education System
● The Asian Development Bank (ADB) advised Pakistan to adopt India's ULLAS (Understanding of
Lifelong Learning for All in Society) scheme to address its dysfunctional education system and
provide quality training to its citizens.
● Pakistan requested financial support from the ADB to improve its education system and address
the issue of educating 26 million out-of-school children.
About India's ULLAS Scheme:
● ULLAS was launched by the Government of India in July 2023 to assist non-literates and adults
who missed formal schooling.
● The scheme aims to provide foundational literacy and numeracy, along with critical life skills such
as financial literacy, digital literacy, healthcare awareness, and family welfare.
About ADB :
● Established : 1966
● Headquarters : Manila, Philippines
● President : Masatsugu Asakawa
● Membership : 68 members, including 49 regional members (countries in Asia and the Pacific)
and 19 non-regional members (countries outside the region)
Indian Overseas Bank Wins Rajbhasha Kirti Puraskar for Second Consecutive YearIndian Overseas
Bank Wins Rajbhasha Kirti Puraskar for Second Consecutive Year
● Indian Overseas Bank (IOB) won the Rajbhasha Kirti Pratham Puraskar for the second
consecutive year in the Official Language Implementation category for 2023-24.
● The award is presented by the Ministry of Home Affairs to recognize efforts in promoting the
Hindi language and official language policies.
● The award was presented by Union Home Minister Amit Shah to IOB's Managing Director and
CEO, Ajay Kumar Srivastava, in New Delhi.
● The recognition highlights IOB's commitment to enhancing the use of the Hindi language and
improving the implementation of official language policies across its operations
● The Rajbhasha Kirti Puraskar scheme was introduced by the Ministry of Home Affairs to
encourage the implementation of official language policies among various entities, including
ministries, departments, public sector undertakings, and nationalized banks.
About IOB :
● Established : 10 February 1937

● Headquarters : Chennai, Tamil Nadu, India
● MD & CEO : Ajay Kumar Srivastava
● Tagline : Good people to grow with
Banks submit bids exceeding ₹1 lakh crore to access funds through a 1-day Variable Rate Reverse
Repo from the Reserve Bank of India
● Banks placed bids totalling ₹1,02,655 crore to draw liquidity from the Reserve Bank of India (RBI)
through the 1-day Variable Rate Repo (VRR) auction.
● The notified amount for the auction was ₹50,000 crore, and the RBI accepted bids worth ₹50,007
crore at a weighted average rate of 6.66%.
● Liquidity Deficit and Surplus:The banking system’s liquidity shifted from a surplus of ₹2.55 lakh
crore on September 5, 2024 to a deficit of ₹5,000 crore on September 18 due to monthly GST
and quarterly advance tax outflows.
● Liquidity returned to a mild surplus of around ₹25,000 crore post these outflows.
● RBI’s Liquidity Management:The RBI conducts liquidity management operations to ensure the
weighted average call rate remains within the 6.40% to 6.60% range.
Digitisation of land records poses a major challenge to implementing the Unique Land Parcel
Identification Number (ULI) system
● The Reserve Bank of India (RBI) plans to launch the Unified Lending Interface (ULI) at a national
level to transform the lending sector.
● ULI is part of the digital public infrastructure aimed at streamlining the lending process for Micro,
Small, and Medium Enterprises (MSMEs) and farmers.
● Purpose of ULI: ULI will facilitate the seamless flow of financial and non-financial data from
multiple platforms, providing customised data to lenders.
● Lenders will gain access to customer data from various silos, such as land records, government
databases, and satellite imagery.
Non-Banking Financial Companies sector demonstrates resilience with robust credit growth and
declining Non-Performing Asset under Reserve Bank of India's scale-based regulatory framework:
Report
● The non-banking financial companies sector continues to demonstrate resilience within the
Scale-Based Regulations framework.
● According to the RBI report ‘Peeling the Layers: A Review of the NBFC Sector in Recent Times’,
The sector maintained double-digit credit growth, adequate capital levels and a low delinquency
ratio by December, 2023.
● Improved Asset Quality : Since the introduction of SBR in October 2022, the gross non-
performing asset (NPA) ratio has decreased markedly, falling from a range of 4.4% to 10.6% in
December 2021 to 2.4% to 6.3% by December 2023.
● Extension of PCA Norms:The introduction of Prompt Corrective Action (PCA) norms for
government-owned NBFCs is expected to strengthen the sector further.
● Upper Layer NBFCs:The RBI has identified several major NBFCs as part of the Upper Layer
under the SBR framework, including:
➢ LIC Housing Finance
➢ Bajaj Finance
➢ Shriram Finance
➢ Tata Sons
➢ L&T Finance
➢ Indiabulls Housing Finance
➢ Piramal Capital & Housing Finance
➢ Cholamandalam Investment and Finance
➢ Mahindra & Mahindra Financial Services
➢ PNB Housing Finance
➢ Tata Capital Financial Services
➢ Aditya Birla Finance
➢ HDB Financial Services
➢ Muthoot Finance
➢ Bajaj Housing Finance
● Compliance with Listing Requirements:
● All companies in the Upper Layer List, except Tata Sons, have complied or are initiating steps to
meet listing requirements.
Reserve Bank of India's Proposed Liquidity Coverage Ratio Norms to Further Restrict Bank Lending to
Non-Banking Financial Companies
● The Reserve Bank of India’s (RBI's) proposed draft guidelines on the Liquidity Coverage Ratio
(LCR) are under the Basel-III norms and are set to take effect in April 2025.
● Bank Lending Bias:The draft guidelines are expected to skew bank lending towards higher-rated
NBFCs, specifically those with AAA or AA ratings, making it harder for smaller or low-rated
NBFCs to compete.
● Tighter Lending Norms:Due to existing tighter lending norms, bank credit to NBFCs has already
fallen significantly, dropping from a year-on-year growth rate of 36% in October 2022 to just 8.5%
as of June 2024.
● Increased Risk Weightage:Earlier in 2024, the RBI increased the risk weightage on loans to
NBFCs by 25 basis points to 125%, further discouraging banks from lending to these institutions.
Finance Ministry establishes a ₹27.5 lakh crore target for agricultural credit in FY25
● The government has set an agriculture credit disbursement target of ₹27.5 lakh crore for the
fiscal year 2024-25.
● This target represents an 11% increase compared to actual loans disbursed in FY24.
● Credit Approval Alignment:The finance ministry has instructed lenders to align credit approvals
with the Gross Value Added (GVA) of crops for respective states to address regional imbalances
in loan availability.
● Loan Distribution Plans
➢ ₹16 lakh crore is earmarked for short-term crop loans.
➢ ₹11.5 lakh crore is allocated for term loans for the fiscal year 2024-25.
➢ State-Specific Disbursal:
➢ The highest credit disbursal was to Tamil Nadu (₹4.39 trillion, 17.6% of total disbursal),
followed by Andhra Pradesh (₹2.96 trillion, 12%).
➢ Over ₹12.5 trillion (50.5%) was disbursed to five southern states: Andhra Pradesh,
Telangana, Karnataka, Tamil Nadu, and Kerala.
● RBI Initiatives:The RBI has ranked districts based on per capita credit flow and is developing an
incentive framework for districts with lower credit flow.
● Interest Subvention Scheme : Modified Interest Subvention Scheme (MISS):
➢ Farmers with Kisan Credit Cards (KCCs) can borrow up to ₹3 lakh at 7% interest per
annum for working capital.
➢ An additional 3% interest subvention is provided for prompt repayment, effectively
lowering the interest rate to 4%.
● Cabinet Minister : Nirmala Sitharaman
● Minister of State : Pankaj Choudhary

State Bank of India to invest in defaulter Supreme Infrastructure India Limited after agreeing to a haircut
● After taking a substantial haircut in a debt restructuring proposal of Supreme Infrastructure India
Ltd (SIIL), the State Bank of India (SBI) has proposed to invest in the preferential share issue of
the defaulting company.
● State Bank of India (SBI) proposed to invest ₹24.33 crore in the preferential share issue of
Supreme Infrastructure India Ltd (SIIL).
● SBI will acquire 28.55 lakh shares at ₹85.23 per share, giving it a 2.08% equity stake in the
company.
● Debt Restructuring and Haircut:The debt restructuring proposal resulted in a 79% haircut for the
creditors, reducing outstanding debt from ₹2,200 crore to ₹464 crore.
● SBI had an outstanding debt of ₹1,023 crore in SIIL prior to restructuring.
● Key Financial Creditors:Other banks involved in the debt exposure include:
➢ Union Bank: ₹238 crore
➢ PNB (Punjab National Bank): ₹296 crore
➢ Bank of India: ₹148 crore
➢ Central Bank of India: ₹115 crore
➢ Canara Bank: ₹197 crore
➢ ICICI Bank: ₹122 crore
➢ SREI: ₹130 crore
ICRA Forecasts Bank Borrowings via Bonds to Hit Rs 1.2-1.3 Trillion in FY25 Due to Tight Liquidity and
Rising Credit Demand
● According to rating agency ICRA, Banks' borrowings through bonds are expected to reach Rs
1.2-1.3 trillion in this financial year (FY25) amid tight liquidity conditions and credit outpacing
deposit growth.
● Historical Context:Bond issuances in FY25 may exceed the previous peak of Rs 1.1 trillion
recorded in FY23.
● In FY24, banks issued bonds worth Rs 1 trillion.
● Public Sector Banks' Dominance:Public sector banks are projected to account for 82-85% of total
bank bond issuances in FY25.
● Infrastructure bonds have been issued with tenures of 10 to 15 years, exceeding the minimum
regulatory requirement of 7 years.
About ICRA :
● Founded : 1991
● Headquarters : Gurgaon, Haryana, India
● Managing Director : Ramnath Krishnan
S&P maintains India's FY25 growth forecast at 6.8%, anticipates rate cut in October 2024
● The global credit ratings agency S&P Global, in its report, titled ‘Economic Outlook Asia-Pacific
Q4 2024 retained India's growth forecast at 6.8% for the current financial year 2024-2025 and
expressed optimism that the Reserve Bank of India (RBI) would start cutting interest rates in its
October, 2024 monetary policy review.
● The agency has projected growth at 6.9% for fiscal year 2025-26 and 7%for fiscal years 2026-27
and 2027-28.
India's Growth Forecast by Other Agencies:
Agency GDP Growth Forecast
Moody's Analytics (2024) 7.1%
International Monetary Fund (FY25) 7.0%
World Bank (FY25) 7.0%
Reserve Bank of India (FY25) 7.2%
● Economic Context:India's post-pandemic economic recovery saw a 7.8% growth rate in 2023,
driven by strong demand, which is expected to moderate in 2024 to 7.1%, according to Moody's
Analytics.
● For the next few years, growth is expected to stabilize, with 6.5% growth in 2025 and 6.6% in
2026.
UCO Bank unveils "Project Parivartan" to enhance the bank's digital banking services
● Ashwani Kumar, Managing Director (MD) & Chief Executive Officer (CEO),UCO Bank launched
“Project Parivartan”, a major transformation initiative in the existing digital banking facilities
offered by the Bank.
● Key points of Project Parivartan include close collaboration with Fintechs and technology
providers, customer engagement through personalization, analytics-driven campaigns, and the
enhancement of digital journeys for both asset as well as liability products.
About UCO Bank :
● Founded : 6 January 1943
● Headquarters : Kolkata, West Bengal, India
Piramal Finance Collaborates with Digital India's Common Service Centers to Improve Credit Access for
Budget Customers in Bharat
● Piramal Capital & Housing Finance Ltd (Piramal Finance), a wholly-owned subsidiary of Piramal
Enterprises Ltd, has partnered with Digital India's Common Service Centers (CSCs) to meet the
lending needs of Bharat by improving access to formal credit for underserved individuals and
MSMEs (micro, small and medium enterprises).
● Through this collaboration, over Rs 100 crore has been successfully disbursed in August 2024 to
boost credit availability in semi-urban areas, providing essential financial products such as home
and business loans.
About Piramal Capital & Housing Finance Limited :
● Founded : 11 April 1984
● Managing Director : Jairam Sridharan
About Common Service Centers :
● Founded : 16 July 2009
● Headquarters : Delhi, India
● MD & CEO : Sanjay Rakesh
● CSCs are a key component of the Digital India initiative launched by the Government of India.
● These centers aim to provide essential government and non-government services to citizens,
particularly in rural and remote areas, through digital means.
Financial Action Task Force Commends India's Initiatives to Combat Illicit Finance, Money Laundering,
and Terror Funding
● The Financial Action Task Force (FATF) released its mutual evaluation report on India,
highlighting the country’s significant progress in tackling illicit finance.
● The report commended India for achieving a high level of technical compliance across FATF
recommendations and for its substantial measures in addressing financial crime.
● India has been placed in the “regular follow-up” category by FATF, a distinction awarded to
countries that demonstrate significant compliance with FATF standards.
● Compliance with FATF Recommendations : India achieved a high level of technical compliance,
being compliant or largely compliant with 37 out of 40 FATF recommendations.
● The threshold to qualify for the "regular follow-up" category is compliance with at least 32 out of
40 recommendations.
● India met this threshold, further receiving five 'substantially effective' or 'highly effective' ratings in
Immediate Outcomes (IOs), with no low effectiveness ratings.
● Jan Dhan-Aadhaar-Mobile (JAM) Initiative:FATF praised India's Jan Dhan-Aadhaar-Mobile (JAM)
initiative, which has significantly improved financial inclusion and reduced dependency on cash
transactions.
About FATF :
● Headquarters : Paris
● President : Elisa de Anda Modrazo
● Membership : 40
OLX teams up with IDFC FIRST Bank to offer innovative financing solutions for used vehicles
● OLX has launched a comprehensive used-vehicle financing solution in collaboration with IDFC
FIRST Bank.
● This new service simplifies the purchasing process for pre-owned cars and bikes by offering
quick and easy financing directly through the OLX platform, eliminating the need for multiple site
visits.
About IDFC FIRST Bank :
● Founded : October 2015
● MD & CEO : V. Vaidyanathan
Reserve Bank of India Lifts Restrictions on IIFL Finance's Gold Loan Operations
● The Reserve Bank of India (RBI) has removed restrictions on IIFL Finance's gold loan operations.
● Timeline of Restrictions: The restrictions were imposed on March 4, 2024, prohibiting IIFL
Finance from sanctioning, disbursing, or selling any gold loans during this period.
About IIFL Finance Limited :
● Founded : 1995
● Chairman : Nirmal Jain
Securities and Exchange Board of India Introduces New Rules: Unified Payments Interface Required for
Bids Up to ₹5 Lakh in Public Debt Issues Starting November 1, 2024
● The Securities and Exchange Board of India (SEBI) has introduced new guidelines to streamline
the application process for public issues of debt securities.
● Retail investors applying for public issues of debt securities through stock brokers for amounts up
to Rs 5 lakh should only use UPI to block funds.
● Individual investors would continue to have the choice of availing other modes through the stock
exchange platform for making an application in the public issue.
● The new rules apply to:
➢ Public issues of debt securities
➢ Non-convertible redeemable preference shares
➢ Municipal debt securities
➢ Securitised debt instruments
● The new rules will come into effect on November 1, 2024.
● Shorter Review Periods: SEBI reduced the period for seeking public comments on the draft offer
documents from 7 working days to 1 day for issuers whose specified securities are already listed
and 5 days for other issuers.
About SEBI :
● Established : 12 April 1988 as an executive body and was given statutory powers on 30 January
● 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
Bank of India secures ₹2,500 crore through tier-II bonds at 7.49%

● Bank of India (BoI) raised Rs 2,500 crore through tier-II bonds at a coupon rate of 7.49%.
● Previous Fundraising:In July,2024 BoI raised ₹5,000 crore through 10-year infrastructure bonds
at a 7.54% coupon rate.
● The coupon rate for the recent Tier-II bonds was lower than a previous issuance, where the rate
was 7.88%.
● Comparison with SBI:In Sep 2024, State Bank of India (SBI) raised ₹7,500 crore at a coupon rate
of 7.33% via Tier-II bonds, part of its ₹15,000 crore fundraising through Basel III-compliant bonds
in FY25.
About Bank of India :
● Established : 7 September 1906
● MD & CEO : Rajneesh Karnatak
National Payments Corporation of India Plans to Expand Unified Payments Interface Digital Payments
to Africa and South America
● India is in discussions with several countries in Africa and South America to help them build
digital payment systems using the Unified Payments Interface (UPI) as a model.
● Two UPI-like systems are expected to launch by late 2026 or early 2027.
● The National Payments Corporation of India (NPCI) oversees retail payment systems in India
and operates UPI, the most popular digital payment method in the country.
● UPI's monthly transaction volume surged by 41% to nearly 15 billion in August, 2024.
● NIPL Team Expansion:NIPL plans to double its current 60-member team by March 2025,
expanding its overseas operations beyond Singapore and the Middle East.
● CEO of NPCI International Payments Ltd (NIPL) : Ritesh Shukla
About NPCI :
● Founded : 2008
● MD & CEO : Dilip Asbe
● The NPCI is an umbrella organization that operates retail payments and settlement systems in
India.
● It is an initiative of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA) under the
provisions of the Payment and Settlement Systems Act, 2007, to create a robust Payment &
Settlement Infrastructure in India.
ICRA predicts organised gold loan market to surpass ₹10 lakh crore in FY25
● According to an assessment by ICRA, the organised gold loan market, comprising banks and
non-banking financial companies (NBFCs), is set to cross the ₹10-lakh-crore mark in the current
fiscal from ₹9.2 lakh crore in FY24 and touch ₹15 lakh crore by March 2027.
● Banks are the dominant players in the gold loan segment, primarily driven by gold jewellery-
backed agricultural loans.
● NBFC Growth:Non-banking financial companies (NBFCs) are positioned to lead in retail gold
loans, with an expected growth rate of 17-19% in FY25 and a compound annual growth rate
(CAGR) of 14-15% during FY26-27.
Banks Shift Focus to Certificates of Deposit Issuances in September 2024 Due to Slow Deposit Growth
● According to data from the Clearing Corporation of India, Banks issued ₹1.35 trillion worth of
Certificates of Deposit (CDs) in September 2024, a 65% increase compared to August.
● Highest Issuance in FY25: The issuance in September is the second-highest monthly CD
issuance for FY25, after ₹1.45 trillion in June.
● Year-on-Year Growth: Banks issued ₹7.78 trillion in CDs between January and August 2024,
compared to ₹4.9 trillion in the same period of 2023, reflecting a 59% growth.
● Significant Contributors: Canara Bank was the largest issuer with Rs 68,250 crore, followed by
Bank of Baroda (Rs 63,325 crore) and HDFC Bank (Rs 60,230 crore).
● Dominance of State-Owned Banks: The top five issuers included four state-owned banks and
HDFC Bank, which collectively accounted for 61% of total CD issuances, with state-owned banks
making up 68% of the total amount raised.
Private Capex Set to Rise with ₹4 Lakh Crore Credit Demand Pipeline from Indian Corporates: SBI
Chairman
● State Bank of India (SBI) Chairman C. S. Setty announced that the bank has secured a strong
credit pipeline of ₹4 lakh crore from Indian corporates.
● Key sectors for infrastructure financing include:
➢ Roads
➢ Renewable energy
➢ Refineries
● Government Capital Expenditure:Finance Minister Nirmala Sitharaman proposed an 11.1%
increase in capital expenditure to ₹11.11 lakh crore for the fiscal year 2024-25.
● This proposed expenditure represents 3.4% of India's GDP.
About SBI :
● Established : 1 July 1955
● Chairman : Challa Sreenivasulu Setty
Finance Ministry calls on Debt Recovery Tribunals and banks to accelerate loan recovery efforts
● The Finance Ministry has urged banks to establish a clearly defined policy for handling small and
high-value cases pending in Debt Recovery Tribunals (DRTs).
● It has been emphasised that some of the best practices can be adopted across DRTs for better
outcomes.
● SARFAESI Act: The Securitisation and Reconstruction of Financial Assets & Enforcement of
Security Interest Act, 2002 (SARFAESI Act) allows banks and financial institutions to recover
secured debts without court intervention at the initial stage.
● Current Infrastructure: There are currently 39 DRTs and 5 Debt Recovery Appellate Tribunals
(DRATs) operating across India, each led by a Presiding Officer and a Chairperson, respectively.
● Debt Recovery Importance: The effectiveness of DRTs is crucial for maintaining creditor
confidence and improving the overall financial health of banks and financial institutions in India.
Asian Development Bank maintains India's growth forecast at 7%
● The Asian Development Bank (ADB) retained India's growth forecast for FY 2024-2025 at 7%,
attributing this to improved agricultural output and increased government spending.
● Economic Drivers: Key drivers of economic activity identified include:
➢ Enhanced agricultural productivity.
➢ Increased government expenditure.
➢ Previous Fiscal Performance: India’s economy grew at an impressive 8.2% in the previous
fiscal year (2023-24).
Government’s Borrowing Strategy for the Second Half of FY 2024-25
● The Government of India, in consultation with the Reserve Bank of India (RBI), has outlined its
borrowing program for the second half (H2) of FY 2024-25.
● Total Gross Market Borrowing: For FY 2024-25, the total gross market borrowing is set at ₹14.01
lakh crore, of which ₹6.61 lakh crore (47.2%) will be raised in H2.
● Sovereign Green Bonds: This borrowing plan includes ₹20,000 crore specifically allocated for
Sovereign Green Bonds (SGrBs).
● Maturities of Securities: The borrowing will be diversified across various maturities: The share of
borrowing (including SGrBs) under different maturities will be: 3-year (5.3%), 5-year (10.6%), 7-
year (7.6%), 10-year (24.8%), 15-year (13.2%), 30-year (12.1%), 40-year (15.9%) and 50-year
(10.6%).
Axis Bank and Mastercard Partner to Introduce Credit Card for Small Business Owners
● Axis Bank, and Mastercard, a global technology company in the payments industry, announced
their collaboration to launch MyBiz, a business credit card designed exclusively for sole
proprietors and small business owners.
● The new card, part of the World Mastercard category, combines a wide range of business and
travel benefits to meet the diverse needs of small and medium-sized enterprises (SMEs) owners.
PayU Launches First-Ever Biometric Authentication Solution for Card Payments in the Industry
● PayU, one of India's leading digital financial services providers, has introduced an industry-first
biometric authentication solution for card payments - Flash Pay.
● The solution aims to simplify the payment experience, improve transaction success rates, and
significantly enhance security for users.
● Flash Pay was unveiled at the Global Fintech Festival (GFF) 2024, a prestigious event in the
fintech sector.
About PayU :
● Headquarters : Hoofddorp, Netherlands
● CEO : Anirban Mukherjee
India's Net Foreign Direct Investment (FDI) Increases to $5.5 Billion from $3.8 Billion in April-July FY24
- RBI Report
● According to the latest report by the Reserve Bank of India (RBI), India's net foreign direct
investment (FDI) during the April-July period of the current financial year (FY25) rose to $5.5
billion compared to $3.8 billion in the year-ago period.
● The increase was due to an improvement in gross inward FDI, which grew by 23.6 per cent year-
on-year (Y-o-Y) to $27.7 billion during the four months of FY25.
● The major source countries were Singapore, Mauritius, the Netherlands, the US, Belgium, and
Japan.
● FDI has three components: equity capital, reinvested earnings and other capital.
● Equity capital is the foreign direct investor's purchase of shares of an enterprise in a country
other than its own.
● Reinvested earnings comprise the direct investor’s share (in proportion to direct equity
participation) of earnings not distributed as dividends by affiliates, or earnings not remitted to
the direct investor.
● Such retained profits by affiliates are reinvested.
HDFC Life forms a tri-party partnership with Metropolis and CallHealth
● HDFC Life, one of India's leading life insurers, has entered into a bespoke agreement with
Metropolis Healthcare Limited, a leading Indian diagnostic company, and CallHealth, an
integrated healthcare platform respectively.
About HDFC Life :
● Founded : 2000
● MD & CEO : Vibha Padalkar
● Non-Executive Director & Chairman : Mr. Keki M Mistry
● It is a joint venture between Housing Development Finance Corporation Ltd (HDFC), one of
India's leading housing finance institutions and Abrdn, a global investment company.
Mahindra Finance collaborates with UGRO Capital to offer affordable loans to Micro, Small & Medium
Enterprises
● Mahindra Finance has entered into a co-origination partnership with UGRO Capital to provide
affordable loans to MSMEs (Micro, Small & Medium Enterprises).
● The collaboration aims to provide secured business and affordable loans against properties (LAP)
to the Micro, Small & Medium Enterprise (MSME) sector, supporting their business growth.
Employees’ Provident Fund Organisation Enhances Efficiency: Claims Settlement Now 30% Faster
● The Centre for Development of Advanced Computing (C-DAC), under the Ministry of Electronics
and Information Technology (MeitY), developed new software for Employee Provident Fund
Organisation (EPFO), reducing claim rejections and improving settlement efficiency.
● The new software has made claim settlements 30% faster.
● Rejection rates, which had increased from 13% in 2017-18 to 34% in 2022-23, have now
decreased significantly after the upgrade.
About EPFO :
● Formed : 4 March 1952
● Headquarters : New Delhi, Delhi
● Central Provident Fund Commissioner : Neelam Shami Rao
Reserve Bank of India Greenlights Voluntary Amalgamation of Rajapur Sahakari Bank and Malad
Sahakari Bank in Mumbai, Maharashtra
● The Reserve Bank of India (RBI) has sanctioned the Scheme of Amalgamation of The Rajapur
Sahakari Bank Limited., Mumbai, Maharashtra with The Malad Sahakari Bank Limited., Mumbai,
Maharashtra.
● The sanction has been made under Sub-Section (4) of Section 44A read with Section 56 of the
Banking Regulation Act, 1949.
Reserve Bank of India Imposes ₹61.60 Lakh Penalty on Surat People’s Co-operative Bank and ₹1.50
Lakh on Bihar Awami Co-operative Bank for Regulatory Violations
● The Reserve Bank of India (RBI) has, imposed a monetary penalty of ₹61.60 lakh on The Surat
People’s Co-operative Bank Limited, Surat, for non-compliance with certain directions issued by
RBI on ‘Income Recognition, Asset Classification, Provisioning and Other Related Matters’,
‘Loans and advances to directors and their relatives, and firms/concerns in which they are
interested’, ‘Maintenance of Deposit Accounts’ and ‘Customer Service’.
● This penalty has been imposed in exercise of powers conferred on RBI under the provisions of
section 47A(1)(c) read with sections 46(4)(i) and 56 of the Banking Regulation Act, 1949.
● This action is based on deficiencies in regulatory compliance and is not intended to pronounce
upon the validity of any transaction or agreement entered into by the bank with its customers.
● The RBI also has, imposed a monetary penalty of ₹1.50 lakh on The Bihar Awami Co-operative
Bank Ltd., Patna for contravention of the provisions of section 26A read with section 56 of the
Banking Regulation Act, 1949 (BR Act) and for non-compliance with certain directions issued by
RBI on ‘Know Your Customer (KYC)’.
AWARDS AND HONOUR

Accolades for The Hindu: Maitri Porecha's Article Wins at Laadli Media & Advertising Awards for
Gender Sensitivity 2024
• The Hindu and thehindu.com received accolades at the 14th Laadli Media & Advertising Awards
for Gender Sensitivity 2024.
• Award Category: Print/Feature/English (Northern Region)
• Recipient: Senior Assistant Editor Maitri Porecha
• Article Title: “Talking Therapy: Asha Workers Offer Hope in Rural Madhya Pradesh”
Professor Bantval Jayant Baliga was Awarded 2024 Millennium Technology Prize
• Recipient: Professor Bantval Jayant Baliga, a 76-year-old Indian-American electrical engineer
born in Chennai, Tamil Nadu.
• Award: 2024 Millennium Technology Prize, given by Technology Academy Finland.
• Prize Value: €1 million (approximately $1.1 million).
• Recognition: Awarded for his invention of the Insulated Gate Bipolar Transistor (IGBT).
Dr. Dasari Radhika Honored with Prestigious ‘Gender Diversity’ Award

• Award: Dr. Dasari Radhika, Deputy General Manager (HR) at Rashtriya Ispat Nigam Limited
(RINL), was conferred with the ‘Gender Diversity’ award by the Indian Steel Association.
• Contribution: Recognized for her exemplary leadership in the steel industry, a traditionally male-
dominated sector, Dr. Radhika has been instrumental in promoting gender equity, fostering an
inclusive workplace, and creating a culture of belongingness.
National Teachers' Awards 2024: Honoring Excellence in Education
• On September 5, 2024, in New Delhi, President Smt. Droupadi Murmu conferred the National
Teachers’ Award 2024 to 82 exceptional educators across the country during the Teachers' Day
celebration.
• About the National Teachers’ Award:
• Date of Ceremony: September 5, 2024
• Honoring: 82 teachers
• Purpose: To recognize and celebrate the significant contributions of teachers who have
enhanced the quality of education and positively impacted their students’ lives.
• Award Details: Each recipient receives a certificate of merit, a cash award of ₹50,000, and a
silver medal.
REC Ltd. Honored as “Nodal Agency of the Year” at Bharat Electricity – Powering India Awards 2024
• REC Ltd has been awarded the prestigious “Nodal Agency of the Year” title at the Bharat
Electricity – Powering India Awards 2024.
• This accolade highlights REC’s significant contributions and leadership in the energy sector,
particularly in advancing India’s power infrastructure.
• Award Presentation: The award was presented during the PowerGen India & Indian Utility Week
2024, a premier event that gathers industry leaders, policymakers, and energy experts.
Union Environment Minister Bhupender Yadav and Chief Minister of Rajasthan Bhajan Lal Sharma
presented the Swachh Vayu Survekshan Award, 2024
• The International Day of Clean Air for Blue Skies, also known as Swachh Vayu Diwas, was
observed on September 7, 2024, in Jaipur.
• Host: Rajasthan State Pollution Control Boar
• Union Minister of Environment, Forest & Climate Change, Shri Bhupender Yadav
• Chief Minister of Rajasthan, Shri Bhajan Lal Sharma
• Minister of State for Forest, Environment & Climate Change, Shri Sanjay Sharma
• Union Minister of State Urban Development and Local Self Government, Shri Jhabar Singh
Kharra
Sanjukta Sethi Receives National Florence Nightingale Award-2024
• Sanjukta Sethi, a dedicated nursing officer at the Malkangiri district headquarters hospital (DHH),
was honoured with the prestigious National Florence Nightingale Award-2024 by President
Droupadi Murmu at Rashtrapati Bhawan.
• National Florence Nightingale Award-2024 is presented by the Ministry of Health and Family
Welfare to recognize exemplary service by nurses.
• Sanjukta Sethi has served as a nurse for 30 years, currently holding the position of nursing
officer and OT in-charge at Malkangiri DHH.
Dommaraju Gukesh Receives Young Changemaker Award
• Dommaraju Gukesh, an 18-year-old chess prodigy, was awarded Businessline’s Young
Changemaker Award.
• The award was accepted by his grandparents, Usha and Shankar Raju, as Gukesh was
participating in the 45th Chess Olympiad in Budapest, Hungary.
• Gukesh made history by becoming the youngest chess world championship challenger ever.
Bezan Chenoy Honored for 50 Years as a Professional Trainer by RWITC

• The Royal Western India Turf Club (RWITC) honoured Bezan Chenoy for completing 50 years as
a professional horse trainer.
• The recognition took place at the Pune race course.
• The RWITC chairman and managing committee felicitated Chenoy, acknowledging his dedication
and contributions to Indian horse racing.
• Chenoy remarked, “Fifty years have flown by, but it’s been a great ride.”
2024 Primetime Emmy Awards:
• The 2024 76th Emmy Awards were held at the Peacock Theatre and broadcast live on Lionsgate
Play in India, celebrating exceptional television performances and productions.
• Best Comedy Series: Hacks – WINNER
• The Bear set a record with 11 Emmy wins, including:
o Best Lead Actor in a Comedy Series: Jeremy Allen White
o Best Supporting Actress: Liza Colón-Zayas (first Latina winner)
o Best Supporting Actor: Ebon Moss-Bachrach
o Best Directing: Christopher Storer
Bharat Heavy Electricals Limited (BHEL) Receives Rajbhasha Kirti Puraskar
• Bharat Heavy Electricals Limited (BHEL) has been honored with the prestigious Rajbhasha Kirti
Puraskar by the Department of Official Language, Ministry of Home Affairs, Government of India.
• This award is presented for excellence in implementing the Official Language policy.
Key Details:
• Award: Rajbhasha Kirti Puraskar

• Awarding Body: Department of Official Language, Ministry of Home Affairs, Government of India
DIG Subrato Ghosh Honored with ‘CHRO of the Year Award’ at HRMC Awards 2024
● Garden Reach Shipbuilders & Engineers Limited (GRSE) Director (Personnel), DIG Subrato Ghosh
(ICG Retd.), received the prestigious ‘CHRO of the Year Award’ at the 23rd Edition of the Asia
Pacific HRMC Awards 2024, held at Taj MG Road, Bengaluru
Kiran Rao’s Laapataa Ladies Selected as India’s Official Entry for Oscars 2025
● Filmmaker Kiran Rao’s comedy-drama “Laapataa Ladies” has been chosen and submitted as India's
official entry in the Best Foreign Film Category for the Oscars 2025 by the Film Federation of India.
Overview
● Film: Laapataa Ladies
● Director: Kiran Rao
● Category: Best Foreign Film
● Submitted by: Film Federation of India (FFI)
● Oscars Date: March 2025
APPOINTMENTS & RESIGNATIONS

French President Macron appoints former EU Brexit negotiator Michel Barnier as France's new Prime
Minister
• Michel Barnier, former EU Brexit negotiator, was named by President Emmanuel Macron as
France's new Prime Minister.
• Barnier replaced Gabriel Attal, who resigned on July 16, 2024 after legislative elections left
France with a hung parliament, causing political instability.
• Michel Barnier, aged 73, has had a political career spanning over 50 years, holding various
ministerial positions, including:
About France :
• Capital : Paris
• Currency : Euro
L'Oreal Paris Appoints Actor Alia Bhatt as New Global Brand Ambassador
• Leading French cosmetic maker L'Oreal Paris has roped in Bollywood actress Alia Bhatt as its
new global brand ambassador.
• With this, Bhatt joins the brand's diverse roster of L'Oreal brand ambassadors like Viola Davis,
Jane Fonda, Eva Longoria, Kendall Jenner, Elle Fanning, Camila Cabello, and many others.
• Bhatt will feature in the French beauty brand's campaigns starting in September 2024.
About L'Oreal Paris :
• Headquarters : Clichy, France
• Chairman : Jean-Paul Agon
• CEO : Nicolas Hieronimus
Air Marshal Tejinder Singh Assumes Role as Deputy Chief of the Air Staff
• Air Marshal Tejinder Singh has taken over as the Deputy Chief of the Air Staff (DCAS) of the
Indian Air Force at Air Headquarters (Vayu Bhawan).
• After assuming his new role, he paid homage to the fallen soldiers by laying a wreath at the
National War Memorial in New Delhi.
• He is an alumnus of the National Defence Academy and was commissioned into the fighter
stream of the IAF on 13 June 1987.
About Ministry of Defence :
• Cabinet Minister :Rajnath Singh
• Minister of State :Sanjay Seth
Philips Names Bharath Sesha as New Managing Director for India
• Dutch multinational conglomerate Philips has appointed Bharath Sesha as Managing Director for
India, starting September 1, 2024.
• Responsibilities: He will lead Philips' growth strategy in India, oversee the healthcare business
based in Gurugram, and manage operations across key locations in India.
• Sesha succeeds Daniel Mazon, who has transitioned to a global role at Philips' headquarters in
the Netherlands.
About Philips :
• Founded : 15 May 1891
• Headquarters : Amsterdam, Netherlands
• CEO : Roy Jakobs
V Satish Kumar Assumes Additional Charge as Chairman of Indian Oil Corporation
• V. Satish Kumar, Director (Marketing) of Indian Oil Corporation Limited (IOCL), has taken over as
the interim Chairman after Shrikant Madhav Vaidya completed his tenure.
• V. Satish Kumar has been the Director (Marketing) since October 2021.
• He also held additional charge as Director (Finance) from October 2022 for one year.
About IOCL :
• Founded : 30 June 1959
• IndianOil, is an Indian multinational oil and gas company under the ownership of the Ministry of
Petroleum and Natural Gas, Government of India.
Financial Services Institutions Bureau Recommends Rama Mohan Rao Amara for State Bank of India
Managing Director
• The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned
banks and financial institutions, recommended Rama Mohan Rao Amara for the position of
managing director (MD) of State Bank of India (SBI).
• Amara is currently Deputy Managing Director of the bank.
• The vacancy arose following the elevation of C S Setty to the position of Chairman of SBI.
About FSIB :
• FSIB is headed by Bhanu Pratap Sharma, former Secretary, Department of Personnel and
Training (DoPT).
• Other members include Animesh Chauhan (former Chairman and MD of Oriental Bank of
Commerce), Deepak Singhal (former RBI Executive Director), and Shailendra Bhandari (former
MD of ING Vysya Bank).
• The final decision on FSIB's recommendation would be taken by the Appointments Committee of
the Cabinet headed by Prime Minister Narendra Modi.
Meesho Appoints Mohit Rajani as Chief Product Officer
• E-commerce major Meesho has appointed Mohit Rajani as Chief Product Officer (CPO).
• In his role as CPO, Mohit will lead Meesho’s product organisation, overseeing the product
management, design, and analytics teams.
• Rajani has previously been associated with Meta, Google, and Carta.
About Meesho :
• Founded : December 2015
• CEO : Vidit Aatrey
Government Appoints Deepti Gaur Mukherjee as SEBI Board Member
• The Centre has appointed Deepti Gaur Mukherjee, Secretary of the Ministry of Corporate Affairs
(MCA), as a Member of the SEBI Board.
• The Centre has nominated Deepti Gaur Mukherjee, Secretary of the Corporate Affairs Ministry
(MCA), as a Member of the Board of market regulator SEBI.
• The Financial Markets division in the Department of Economic Affairs of the Finance Ministry
issued the notification for this appointment.
• Deepti Gaur Mukherjee replaces Manoj Govil, the former MCA Secretary, who has been posted
as Expenditure Secretary in the Finance Ministry.
Senior IAS Officer T.V. Somanathan Assumes Role as Cabinet Secretary

• Dr. T.V. Somanathan took over as the new Cabinet Secretary in the Government of India after
the superannuation of Shri Rajiv Gauba.
• Dr. Somanathan is an IAS officer of Tamil Nadu cadre (1987 batch). He holds a Ph.D. in
Economics from Calcutta University.
• He has held important assignments at the Centre like Joint Secretary and Additional Secretary in
the Prime Minister’s Office.
Rajneesh Narang, HPCL Director (Finance), appointed as Chairman and Managing Director
• Rajneesh Narang, Director (Finance) of Hindustan Petroleum Corporation Limited (HPCL), will
take on the roles of Chairman and Managing Director for a period of three months starting from
September 1, 2024.
• He succeeds Pushp Kumar Joshi, who retired after reaching the age of 60 on August 31, 2024.
• HPCL is an Indian oil and gas company with corporate headquarters in Mumbai, Maharashtra.
Federation of Automobile Dealers Associations Names C S Vigneshwar as New President for 2024-26
Term
• The Federation of Automobile Dealers Associations (FADA) appointed C S Vigneshwar as its
37th President for the 2024-26 term.
• Vigneshwar succeeds Manish Raj Singhania.
• The decision was made at FADA's 315th governing council meeting, which followed its 60th
Annual General Meeting.
• Vigneshwar is the Managing Director of Anaamalais Toyota in Coimbatore, Tamil Nadu.
About FADA :
• Founded : 1964
• FADA, is the apex national body of Automobile Retail Industry in India engaged in the sale,
service and spares of 2 & 3 Wheelers, Passenger Cars, UVs, Commercial Vehicles (including
buses and trucks) and Tractors.
Suresh Prabhu nominated to World Agriculture Forum Board
• Former Union Minister and Rajya Sabha member Suresh Prabhu has been nominated to the
World Agriculture Forum (WAF) Board.
• Rudy Rabbinge, Chairman of the WAF Board, stated that Prabhu's expertise will be invaluable in
shaping discussions about the future of the agricultural sector.
Y Haragopal appointed as Managing Director of NABCONS
• Y Haragopal has been appointed Managing Director of NABCONS (NABARD Consultancy
Services), a wholly-owned subsidiary of the National Bank for Agriculture and Rural
Development.
• He was previously the Chief Operating Officer (COO) at NABCONS.
• NABCONS has four Zonal offices in Mumbai, Hyderabad, Jaipur, and Guwahati.
Algerian President Tebboune Re-elected for Second Term with 95% of the Vote
• Algeria's incumbent President Abdelmadjid Tebboune has been re-elected with almost 95% of
the vote.
• More than 5.3 million people voted for Tebboune.
• Official preliminary results gave Tebboune 95% of the vote, enough to avoid a second round run-
off, with Abdelaali Hassani Cherif getting 3% and Youcef Aouchiche 2%.
• Turnout was 48%.
• Tebboune, backed by the military, was facing only nominal opposition from Hassani Cherif, a
moderate Islamist, and Aouchiche, a moderate secularist.
About Algeria :
• Prime Minister : Nadir Larbaoui
• Capital : Algiers
• Currency : Algerian dinar
• Algeria is Africa's largest country by area and, with almost 45 million people, it's the continent's
second most populous after South Africa to hold presidential elections in 2024.
Former Election Commissioner,Arun Goel Appointed as India’s New Ambassador to Croatia
• Arun Goel has been appointed as India's next ambassador to Croatia, according to the Ministry
of External Affairs.
• Arun Goel is a retired bureaucrat who previously served as the Election Commissioner of India.
• He was appointed as Election Commissioner in November 2022 and resigned in March 2024.
• Before his role as EC, he retired voluntarily from the Indian Administrative Service (IAS) as a
1985-batch officer of the Punjab cadre.
• Diplomatic relations between India and Croatia were established on July 9, 1992, following
Croatia’s independence from Yugoslavia.
About Croatia :
• President : Zoran Milanović
• Prime Minister : Andrej Plenković
• Capital : Zagreb
• Currency : Euro
DIPAM Secretary Tuhin Kanta Pandey appointed as Finance Secretary
• Tuhin Kanta Pandey, a senior bureaucrat and 1987-batch Indian Administrative Service (IAS)
officer of the Odisha cadre, has been designated as the new finance secretary, according to an
official order issued by the personnel ministry.
• Pandey is presently serving as the Secretary of the Department of Investment and Public Asset
Management (DIPAM).
• The Appointments Committee of the Cabinet approved Pandey's designation as finance
secretary.
• The position became vacant following the appointment of TV Somanathan as the Cabinet
Secretary last month.
Randhir Singh becomes Olympic Council of Asia (OCA) president
• Position: Randhir Singh, a five-time Olympian and sports administrator, has been elected as the
President of the OCA.
• Event: 44th OCA General Assembly in New Delhi.
• Age: 77 years old.
• Previous Role: Acting President of the OCA since 2021, filling in for Kuwait’s Sheikh Ahmad Al-
Fahad Al-Sabah, who was banned from sports administration in May 2024.
Tata Motors Managing Director Shailesh Chandra was Appointed as the New President of the Society
of Indian Automobile Manufacturers
• The Society of Indian Automobile Manufacturers (Siam), the apex body representing India’s leading
automobile manufacturers, announced the election of Shailesh Chandra, Managing Director of Tata
Motors Passenger Vehicles, as its new president for the term 2024-25.
• Chandra succeeds Vinod Aggarwal, Managing Director & CEO of Volvo Eicher Commercial Vehicles
(VECV).
Partha Sinha was Appointed as the New Chairman of the Advertising Standards Council of India
• Partha Sinha, President & Chief Brand Officer of BCCL, has been appointed as the Chairman of
Advertising Standards Council of India’s (ASCI) Board of Governors for 2024-25, succeeding
Saugata Gupta, MD & CEO of Marico Limited.
• Partha Sinha has previously worked with prominent companies such as Ogilvy, Publicis, BBH, McCann, a
Citibank.
• Vice-Chairman: Sudhanshu Vats, Deputy Managing Director, Pidilite Industries.
• Hon. Treasurer: S. Subramanyeswar, Group CEO & Chief Strategy Officer-APAC, Lintas India.
About ASCI :
• The ASCI is a voluntary self-regulatory organisation of the advertising industry in India.
• ASCI is registered as a non-profit company under section 8 of the Company Act.
Nehal Vora reappointed as Managing Director and CEO of Central Depository Services India
• Nehal Vora has been reappointed as the Managing Director (MD) and Chief Executive Officer
(CEO) of Central Depository Services India (CDSL) for a second five-year term, from September
18, 2024, to September 17, 2029.
• Nehal Vora has over 25 years of experience in the Indian capital markets, having held significant
roles at organizations like BSE, DSP Merrill Lynch, and SEBI.
About CDSL :
• Founded : February 1999
• CDSL manages more than 130 million demat accounts, making it a leading player in India's
depository system.
• CDSL is India’s only listed depository and aims to provide secure, reliable, and affordable
depository services to market participants.
• It maintains and services over 11.56 crore demat accounts across India.
• In February,2024 CDSL became the first depository in India to open 60 million active demat
accounts.
Government appoints Arunangshu Sarkar as Oil and Natural Gas Corporation’s 1st Director of Strategy
• Arunangshu Sarkar has been appointed as the Director (Strategy and Corporate Affairs) at Oil
and Natural Gas Corporation (ONGC), making him the first to hold this position
• The appointment is part of the government’s efforts to revamp and innovate within ONGC, aiming
to bring fresh perspectives to the public sector company.
• Role and Responsibilities: As Director (Strategy), Sarkar will be responsible for overseeing
strategic and corporate affairs, contributing to the company's strategic direction and corporate
planning.
About ONGC :
• Headquarters : Delhi, India
• Chairman & CEO : Arun Kumar Singh
• ONGC is an Indian central public sector undertaking under the ownership of the Ministry of
Petroleum and Natural Gas, Government of India.
World Trade Organization Chief Ngozi Okonjo-Iweala to Pursue Second Term
• Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), is seeking a
second term.
• Her current term expires on August 31, 2024.
• Okonjo-Iweala made history in 2021 by becoming the first female and first African Director-
General of the WTO.
• The WTO is facing rising protectionism from some of its founding members, impacting its role as
a rule-setting body for international commerce.
About WTO :
• Established : 1 January 1995
• Membership : 166 members (162 UN member states, the European Union, Hong Kong, Macao,
and Taiwan
RS Sharma appointed as Non-Executive Chairperson of Open Network for Digital Commerce
• The Open Network for Digital Commerce (ONDC) announced the appointment of RS Sharma as
the Non-Executive Chairperson of ONDC.
• In his career in the Indian Administrative Service (IAS), he has held many key positions, including
Director General and Mission Director of UIDAI, Chairman of TRAI, and CEO of the National
Health Authority.
• He has been a member of the ONDC Advisory Council and the ONDC Technology & Strategy
Review Council.
About ONDC :
• Founded : 31 December 2021
• CEO: Thampy Koshy
• ONDC, is a private non-profit Section 8 company established by the Department for Promotion of
Industry and Internal Trade of Government of India to develop open e-commerce.
Arvind Kejriwal Steps Down as Delhi Chief Minister; Atishi Seeks to Form New Government
● Arvind Kejriwal, the Aam Aadmi Party (AAP) convenor, resigned as the Delhi Chief Minister on
17 September 2024.
● He submitted his resignation to Lieutenant Governor Vinai Kumar Saxena.
● Arvind Kejriwal proposed the name of Atishi Marlena, Delhi Minister, as his successor for the
position of Chief Minister.
● Atishi will be the third woman Chief Minister of Delhi after Sheila Dikshit and Sushma Swaraj.
Supreme Court Collegium Recommends Appointment of Four New High Court Chief Justices
The Supreme Court Collegium recommended afresh to the Centre the appointment of Chief Justices of
the High Courts of Meghalaya, Jammu and Kashmir and Ladakh, Madhya Pradesh, and Himachal
Pradesh.
● The SC Collegium, headed by the Chief Justice of India D.Y. Chandrachud.
Position Recommended Current Position Details

Appointee
Chief Justice, Justice Indra Senior-most Appointed as a

Meghalaya High Prasanna Mukerji Puisne Judge of judge in May 2009
Court Calcutta High
Court
Chief Justice, Justice Tashi Senior-most Appointed as a

Jammu and Rabstan Puisne Judge of judge in March
Kashmir and Jammu and 2013
Ladakh High Court Kashmir and
Ladakh High Court
Chief Justice, Justice Suresh Senior Puisne Appointed as a

Madhya Pradesh Kumar Kait Judge of Delhi judge in
High Court High Court September 2008
Chief Justice, Justice G.S. Senior-most Appointed as a

Himachal Pradesh Sandhawalia Puisne Judge of judge in
High Court Punjab and September 2011
Haryana High
Court
RBI approves re-appointment of V Vaidyanathan as IDFC First Bank's MD & CEO

• The Reserve Bank of India (RBI) has approved the re-appointment of V Vaidyanathan as the
Managing Director (MD) and Chief Executive Officer (CEO) of IDFC First Bank.
• His new term will begin on December 19, 2024, as confirmed in an exchange filing by the lender.
• Sindhu Gangadharan, MD of SAP Labs India, was recently appointed as the chairperson of
Nasscom.
Manu Bhaker appointed brand ambassador for the Ministry of Ports, Shipping and Waterways
• India's Ministry of Ports, Shipping, and Waterways (MoPSW) has appointed Manu Bhaker, the
double Olympic medal-winning shooter, as its brand ambassador.
• This decision reflects the ministry's commitment to promoting the marine sector by associating it
with a celebrated sports figure like Bhaker.
• Manu Bhaker: A renowned shooter who recently won medals at the Paris Summer Olympics.
She is also the daughter of a marine engineer, making her an ideal candidate to promote India's
maritime sector.
Vice Chief of the Air Staff Air Marshal Amar Preet Singh named as the next Chief of the Air Staff
● Air Marshal Amar Preet Singh, currently Vice Chief of the Air Staff, appointed as the next Chief of
the Air Staff (CAS).
● He will assume the position in the rank of Air Chief Marshal effective from September 30, 2024.
● He succeeds Air Chief Marshal Vivek Ram Chaudhari, who retires on the same day.
Magnus Carlsen and Judit Polgar were Honoured at the FIDE 100 Awards
● At the FIDE 100 Awards ceremony in Hungary, Magnus Carlsen and Judit Polgar were
recognized as the best male and female players, respectively.
● This event celebrated the centenary of the International Chess Federation, honouring exceptional
contributions to the chess community over the past century.
FIDE 100 Event Overview
● The FIDE 100 event marked a significant milestone, celebrating the evolution and impact of
chess while recognizing individuals, groups, and organizations that have made remarkable
contributions to the game.
● The awards were given in 18 categories.
Marxist leader Anura Dissanayake elected as Sri Lanka's president
● Anura Kumara Dissanayake, leader of the Marxist Janatha Vimukthi Peramuna (JVP) and
National People's Power (NPP), won the Sri Lankan presidential election.
● He was declared the winner after an unprecedented second round of counting by the Election
Commission.
● He is Sri Lanka's 9th president and the first Marxist to hold the position.
● The NPP's popularity surged after securing only 3% of the vote in the 2019 presidential election.
● The party rebranded itself in 2019, distancing from its violent past and broadening its appeal.
About Sri Lanka :
● Capital : Sri Jayawardenepura KotteColombo
● Currency : Sri Lankan rupee
Centre Announces Appointments of Chief Justices in 8 High Courts
● The Centre notified the appointment of Chief Justices in eight High Courts.
● These include the High Courts of Delhi, Himachal Pradesh, Kerala, Jammu and Kashmir,
Madhya Pradesh, Meghalaya, Madras (Tamil Nadu) and Jharkhand.
● The appointments came after the Supreme Court Collegium (September 17, 2024) amended
some of its July 11, 2024 recommendations.
List of 8 New Appointments :
Judge Current Position New Appointment
Justice K.R. Shriram Judge, Bombay High Chief Justice, Madras

Court High Court
Justice Nitin Madhukar Judge, Bombay High Chief Justice, Kerala High
Jamdar Court Court
Justice Manmohan Acting Chief Justice, Delhi Chief Justice, Delhi High
High Court Court
Justice Rajiv Shakdher Judge, Delhi High Court Chief Justice, Himachal
Pradesh High Court
Justice M.S. Chief Justice, Himachal Chief Justice, Jharkhand

Ramachandra Rao Pradesh High Court High Court
Justice Suresh Kumar Judge, Delhi High Court Chief Justice, Madhya
Kait Pradesh High Court
Justice Tashi Rabstan Judge, Jammu and Chief Justice, Jammu and
Kashmir and Ladakh High Kashmir and Ladakh High
Court Court
Justice Indra Prasanna Judge, Calcutta High Chief Justice, Meghalaya

Mukerji Court High Court
Lieutenant General Muhammad Asim Malik appointed as the new Director General of Pakistan's Inter-
Services Intelligence agency
● Lieutenant General Muhammad Asim Malik has been appointed as the new Director General of
Pakistan’s spy agency – Inter-Services Intelligence (ISI).
● He will assume office on September 30, 2024, replacing the current DG, Lt Gen Nadeem Anjum.
● The ISI chief is appointed by the Prime Minister of Pakistan, but traditionally this is done in
consultation with the Army Chief.
About Inter-Services Intelligence :
● Formed : 1 January 1948
● Headquarters : Islamabad, Pakistan

● The ISI is the largest and best-known component of the Pakistani intelligence community.
First-Time Lawmaker Harini Amarasuriya Sworn in as Sri Lanka's First Woman Prime Minister in 24
Years
● Harini Amarasuriya, a 54-year-old lawmaker and university professor, has been sworn in as Sri
Lanka's 16th Prime Minister.
● Amarasuriya is the leader of the National People's Power (NPP) party.
● Harini is the first woman prime minister of Sri Lanka since the late Sirimavo Bandaranaike took
up office in 1994 and the third female prime minister in Sri Lanka’s history.
● She replaces Dinesh Gunawardena, who resigned following the recent presidential election.
● Sirimavo Bandaranaike, who served as Prime Minister from 1960 to 2000, was the world’s first
female head of government.
● Her daughter, Chandrika Kumaratunga, later served as Sri Lanka’s first and only female
president from 1994 to 2005.
KVS Manian Takes Charge as Chief Executive Officer of Federal Bank
● K.V.S. Manian has taken over as Managing Director (MD) and Chief Executive Officer (CEO) of
Federal Bank.
● He replaces Shyam Srinivasan, who retired after leading the bank since September 2010.
About Federal Bank :
● Established : 23 April 1931
● Headquarters : Aluva, Kochi, Kerala, India
● Tagline : Your Perfect Banking Partner
UN Climate Change Appoints Ibrahima Cheikh Diong as First Director of Fund for Climate Disaster
Relief
● Ibrahima Cheikh Diong, a Senegalese finance specialist, has been appointed as the first director
of the Fund for Responding to Loss and Damage, as announced by the UN Framework
Convention on Climate Change.
● This appointment is a significant milestone in the operationalization of the new fund, which is
administered by the World Bank.
● The fund was created in 2022 to assist countries affected by climate-driven disasters.
Alok Ranjan named National Crime Records Bureau Director, Amit Garg appointed as National Police
Academy Chief
● Alok Ranjan, a 1991-batch Indian Police Service (IPS) officer of Madhya Pradesh cadre, has
been appointed as the Director, National Crime Records Bureau (NCRB) for a tenure up to his
superannuation on June 30, 2026.
● Ranjan succeeds his service and batchmate Vivek Gogia, who has been repatriated to AGMUT
(Arunachal Pradesh-Goa-Mizoram and Union Territory) cadre.
● Garg, a 1993-batch IPS officer of Andhra Pradesh cadre, has been appointed as the Director,
Sardar Vallabhbhai Patel National Police Academy (SVPNPA) for a term up to his retirement on
October 31, 2027.
Other Appointments :
● The Appointments Committee of the Cabinet (ACC) has approved the appointments of four
senior IPS officers, all from 1993 batch - Rithwik Rudra (Himachal Pradesh cadre) , Mahesh Dixit
(Andhra Pradesh cadre), Praveen Kumar (West Bengal cadre) and Arvind Kumar (Bihar cadre)
as Special Director in the Intelligence Bureau (IB).
● All these officers were working as the Additional Director in the IB.
● Besides them, Praveer Ranjan has been appointed as Special Director General in Central
Industrial Security Force (CISF) for a tenure of two years.
● Praveer Ranjan, a 1993-batch IPS officer of AGMUT cadre, is currently Additional Director
General (ADG), CISF.
● Vitul Kumar, currently ADG in the Central Reserve Police Force (CRPF), has been appointed as
Special DG in the same force, till the date of his superannuation on August 31, 2028.
● R Prasad Meena, at present ADG in the Border Security Force (BSF), has been appointed as
Special DG in the force, till the date of his retirement, that is July 31, 2025.
About NCRB :
● Formed : 11 March 1986
● Headquarters : Delhi, India
● Parent Department : Ministry of Home Affairs
● NCRB is an Indian government agency responsible for collecting and analyzing crime data as
defined by the Indian Penal Code (IPC) and Special and Local Laws (SLL).
IndiGo Appoints Isidro Porqueras as Chief Operating Officer
● IndiGo has nominated Isidro Porqueras as its new Chief Operating Officer (COO), effective from
November 1, 2024 (subject to regulatory approvals).
● He will succeed Wolfgang Prock-Schauer, who is retiring after over seven years in the role.
About IndiGo :
● Founded : 2006 (Commenced Operations - 4 August 2006)
● CEO : Pieter Elbers
Shigeru Ishiba Wins Ruling Party Leadership Election, Poised to Become Japan’s Next Prime Minister
● Shigeru Ishiba, a veteran lawmaker and former Defence Minister, won the ruling Liberal
Democratic Party (LDP) leadership election to become Japan’s next Prime Minister.
● This marks his fifth and final attempt to lead the LDP, succeeding after a closely fought contest.
● Ishiba defeated Sanae Takaichi, the economic security minister, in a run-off election. Takaichi
was aiming to become Japan’s first female prime minister.
● The election featured a crowded field of nine candidates, one of the most unpredictable
leadership contests in decades.
● Ishiba won 215 votes in the run-off, while Takaichi garnered 194 votes.
● Ishiba is set to succeed Prime Minister Fumio Kishida, who decided not to run for re-election in
August, ending his three-year term.
About Japan :
● Capital : Tokyo
● Currency : Japanese yen (¥)
IndusInd Bank extends Sumant Kathpalia's term as Managing Director and Chief Executive Officer for
an additional 3 years
● The board of directors of private sector lender IndusInd Bank has approved the re-appointment of
Sumant Kathpalia as the managing director and chief executive officer (MD & CEO) of the bank
for a period of three years.
● The re-appointment will be effective March 24, 2025 upto March 23, 2028.
● The re-appointment of Kathpalia is, however, subject to Reserve Bank of India’s (RBI) approval
and shareholders approval.
About IndusInd Bank :
● Established : April 1994
● Tagline : We Care Dil Se, We Make You Feel Richer
M V Shreyams Kumar elected as Indian Newspaper Society president, taking over from Rakesh
Sharma
● M V Shreyams Kumar was elected as the president of the Indian Newspaper Society (INS)
during the 85th annual general meeting held via video conferencing.
● He succeeds Rakesh Sharma from Aaj Samaj newspaper.
Other Appointments :
● Vivek Gupta from Sanmarg was elected as the deputy president.
● Karan Rajendra Darda from Lokmat became the vice president.
● Tanmay Maheshwari from Amar Ujala was elected as the honorary treasurer.
About Indian Newspaper Society :
● Established : 27 February 1939
● Headquarters : New Delhi, Delhi, India
● The INS acts as the central organization of the Press of India, an independent body
authenticating circulation figures of newspapers and periodicals in India.
Tamil Nadu Cabinet Reshuffle: Udhayanidhi Stalin Appointed as Deputy Chief Minister, Senthil Balaji
Rejoins Cabinet
● Udhayanidhi Stalin, the 45-year-old son of Chief Minister M K Stalin, was elevated to the post of
Deputy Chief Minister of Tamil Nadu.
● Udhayanidhi is a first-time MLA from Chepauk and previously served as the Minister for Youth
Welfare and Sports Development.
● Dr. Govi Chezhiaan was appointed as the Higher Education Minister, making him the fourth Dalit
minister in the Tamil Nadu cabinet.
About Tamil Nadu :
● Governor: R. N. Ravi
● Chief minister: M. K. Stalin
● Capital: Chennai
● Dance : Bharatnatyam, Karakattam
● National Park: Mudumalai National Park, Mukurthi National Park, Guindy National Park, Gulf of
Mannar Marine National Park
● Wildlife Sanctuaries: Kalakad Wildlife Sanctuary, Karikili Bird Sanctuary, Vedanthangal Bird
Sanctuary
● Tiger Reserve: Anamalai Tiger Reserve
● Biosphere Reserve : Agasthyamalai Biosphere Reserve
Zomato Co-Founder and Chief People Officer Akriti Chopra Steps Down from Her Position
● Online food ordering and delivery platform Zomato announced its co-founder and Chief People
Officer Akriti Chopra has resigned to pursue other interests.
● Designated as senior management personnel, Chopra has tendered her resignation, with effect
from September 27, 2024.
● She has been with the company for 13 years and played a key role in setting up and scaling
Zomato's legal and finance teams in her previous role as Chief Financial Officer (CFO).
● Prior to joining Zomato, she worked at PwC for three years, focusing on tax and regulatory
practice.
About Zomato :
● Founded : July 2008
● CEO : Deepinder Singh
Jitendra Jadhav named Director General of Aeronautical Development Agency
● Jitendra J. Jadhav was appointed as Director General (DG) of the Aeronautical Development
Agency (ADA).
● He also holds additional charge as Programme Director (Combat Aircraft) and Director ADA.
About ADA :
● Headquarters : Bengaluru, Karnataka, India
● ADA is an autonomous body under the Ministry of Defence, established in 1984 to manage the
LCA program.
● ADA has designed the Tejas and is now developing its advanced versions like Mark 2, AMCA,
and TEDBF.
Kalikesh Singh was elected as the new president of National Rifle Association of India
● Kalikesh Narayan Singh Deo was elected as the new president of the National Rifle Association
of India (NRAI), defeating VK Dhall with a vote count of 36 to 21.
● Kalikesh will serve as president of the NRAI until 2025, when the next general body meeting is
scheduled to take place.
About National Rifle Association of India :
● Founded : 1951
R. Ravindra named as India's new Ambassador to Iceland

● R. Ravindra has been appointed as India's next Ambassador to Iceland by the Ministry of
External Affairs.
● Prior to this appointment, he served as the Deputy Permanent Representative of India to the
United Nations in New York.
● R. Ravindra succeeds Mr. B. Shyam as the ambassador to Iceland.
About Iceland :
● President : Halla Tómasdóttir
● Prime Minister : Bjarni Benediktsson
● Capital : Reykjavík
● Currency : Icelandic króna
MOUS AND AGREEMENT

Tamil Nadu Urged to Sign MoU for PM-SHRI Scheme for Fund Release under Samagra Shiksha
• Tamil Nadu Chief Minister M.K. Stalin has requested the release of funds for the Samagra
Shiksha Scheme for the financial year 2024-25.
• Union Education Minister Dharmendra Pradhan responded, stating that Tamil Nadu is required to
sign a Memorandum of Understanding (MoU) under the PM-SHRI scheme to develop exemplar
model schools.
o The Central government has approved ₹4,305.66 crore for Tamil Nadu under the Samagra
Shiksha Scheme for 2024-25.
National Test House (NTH) and BEE Collaborate to Promote Energy Efficiency in India
• The National Test House (NTH) under the Department of Consumer Affairs signed a
Memorandum of Understanding (MoU) with the Bureau of Energy Efficiency (BEE) to strengthen
India's energy efficiency initiatives.
• The MoU aims to enhance the Standards & Labelling (S&L) Programme, a vital initiative that
promotes energy efficiency across the country.
• Under this agreement, NTH will be recognized as a referral laboratory by BEE, handling cases
related to technical disputes regarding test results.
CAG of India Signs MoU with UAE Accountability Authority to Enhance Public Sector Audit Cooperation
• The Comptroller and Auditor General of India (CAG) has signed a Memorandum of
Understanding (MoU) with the Accountability Authority of the United Arab Emirates (UAE) during
a bilateral meeting in Abu Dhabi.
• The MoU aims to promote and develop cooperation between the two Supreme Audit Institutions
(SAIs), enhancing their professional capacity and improving methodologies in public sector
auditing.
• Areas of Cooperation:
o The agreement encompasses various areas, including:
▪ Exchange of Knowledge and Experiences: Facilitating the sharing of expertise in
public auditing.
▪ Capacity Development Programmes: Conducting training programs at SAI India or
SAI UAE based on identified needs.
India-UK Free Trade Agreement (FTA) Negotiations Near Completion
• The Free Trade Agreement (FTA) between India and the UK is in its final stages of negotiation.
• Statement: B.V.R. Subrahmanyam, CEO of NITI Aayog, indicated that both sides are very close
to finalizing the agreement.
• Negotiation Timeline: FTA negotiations began in January 2022 but were temporarily stalled due
to general elections in both countries.
• Objective: The agreement aims to significantly enhance the current GBP 38.1 billion annual
bilateral trading partnership.
Historic Memorandum of Settlement Signed Between Government of India, Tripura, NLFT, and ATTF
• A significant Memorandum of Settlement was signed between the Government of India, the
Government of Tripura, the National Liberation Front of Tripura (NLFT), and All Tripura Tiger
Force (ATTF) in the presence of Union Home Minister Shri Amit Shah in New Delhi.
• This agreement marks a critical step toward achieving Prime Minister Narendra Modi’s vision of a
peaceful, prosperous, and insurgency-free Northeast.
• Tripura Chief Minister Prof. (Dr.) Manik Saha and senior officials from the Ministry of Home
Affairs and the Government of Tripura were present at the signing.
India and Singapore Strengthen Ties with Four New Memorandums of Understanding
• India and Singapore have signed four significant Memorandums of Understanding (MoUs) aimed
at enhancing cooperation in digital technologies, semiconductors, health, and skill development.
• The agreements were finalized during Prime Minister Narendra Modi’s visit to Singapore.
o Signed by: India's Ministry of Electronics and Information Technology and Singapore's
Ministry of Digital Development and Information.
o Focus Areas: Cooperation in digital technologies, including DPI, cybersecurity, 5G, super-
computing, quantum computing, and artificial intelligence.
Meta Partners with Telangana Government to Drive AI Innovation in e-Governance
• Meta has announced a two-year strategic partnership with the Department of Information
Technology, Electronics, and Communications (IT, E&C) of the Government of Telangana.
• This collaboration aims to leverage the latest advancements in Artificial Intelligence (AI) to
enhance e-governance and citizen services in the state.
• Objective: The partnership focuses on empowering public officials and citizens with emerging AI
technologies to transform public service delivery and improve e-governance.
India-Japan Finance Dialogue 2024: Enhancing Bilateral Financial Cooperation
• The second India-Japan Finance Dialogue was held in Tokyo on September 6, 2024.
• The primary aim was to enhance financial cooperation and strengthen bilateral relations between
India and Japan.
• Indian Delegation: Led by Ajay Seth, Economic Affairs Secretary. Other participants included
representatives from the Ministry of Finance, RBI, SEBI, PFRDA, IRDAI, and IFSCA.
• Japanese Delegation: Led by Atsushi Mimura, Vice Minister of Finance for International Affairs.
The team included Ministry of Finance and the Financial Services Agency (FSA) members.
US and India Partner to Strengthen Semiconductor Ecosystem:

• The US Department of State will collaborate with the India Semiconductor Mission and the
Ministry of Electronics and IT of the Government of India.
• The collaboration aims to enhance and diversify the global semiconductor ecosystem under the
International Technology Security and Innovation (ITSI) Fund, established by the CHIPS Act of
2022.
• Create a resilient, secure, and sustainable global semiconductor value chain.
India and UAE Sign Key Agreements to Boost Energy Cooperation

• India and the United Arab Emirates (UAE) signed five agreements to enhance cooperation in the
energy sector and other areas.
• The agreements were finalized during the three-day visit of Abu Dhabi Crown Prince Sheikh
Khaled bin Mohamed bin Zayed Al Nahyan to India.
• Liquefied Natural Gas (LNG) Supply: An agreement between Abu Dhabi National Oil Company
(ADNOC) and Indian Oil Corporation (IOC) for the long-term supply of LNG. ADNOC will deliver
1 million tonnes of LNG annually for 15 years from its Ruwais natural gas project.
Government Approves Anushakti Vidhyut Nigam Ltd. (ASHVINI) for Nuclear Power Development
• The Indian government has approved Anushakti Vidhyut Nigam Ltd. (ASHVINI), a joint venture
between Nuclear Power Corporation of India Limited (NPCIL) (51%) and NTPC Ltd (49%), to
build, own, and operate nuclear power plants across India.
• This move is aimed at accelerating the country’s nuclear power capacity expansion to meet long-
term energy goals, including the net zero target by 2070.
• The joint venture will focus on the rapid expansion of nuclear power in India, pooling resources
from both NPCIL and NTPC, including finances, technology, and project management expertise.
MoU Signed Between the Cotton Association of India and the International Cotton Association
• The Cotton Association of India (CAI) and the Liverpool-based International Cotton Association
Ltd (ICA) have signed a Memorandum of Understanding (MoU) to enhance cooperation and
promote fair business practices in the cotton industry.
• The agreement aims to combine efforts for promoting contract sanctity and fair business
practices in cotton trading.
Food Ministry and FCI Sign MoU for Enhanced Foodgrain Procurement and Distribution Efficiency
• The Food Ministry and the Food Corporation of India (FCI) signed a Memorandum of
Understanding (MoU) for the 2024-25 fiscal year, focused on enhancing the efficiency and
accountability of foodgrain procurement and distribution operations.
• The MoU outlines specific performance metrics for FCI depots, such as capacity utilization,
operational losses, and security measures.
• It also emphasizes the modernisation of processes and better management of public funds in
food security operations.
India and US Sign MoU to Boost Defence Innovation Cooperation at INDUS-X Summit
• A Memorandum of Understanding (MoU) was signed between the US Department of Defence’s
Defence Innovation Unit (DIU) and India’s iDEX (Innovations for Defence Excellence) of the
Ministry of Defence's Defence Innovation Organization (DIO) at the INDUS-X Summit in

California.
• The agreement aims to expand cooperation in defence innovation, providing militaries access to
cutting-edge technologies.
• The MoU focuses on increasing cooperation in defence innovation and facilitating industry,
research, and investment partnerships between both countries.
• INDUS-X Summit:
ISMA Signs MoUs with TERI and PRAJ Industries to Advance Sustainable Bioenergy Solutions
• Indian Sugar & Bio Energy Manufacturers Association (ISMA) has signed Memoranda of
Understanding (MoUs) with The Energy and Resources Institute (TERI) and PRAJ Industries.
• The focus is on advancing sustainable bioenergy solutions including Sustainable Aviation Fuel
(SAF), bio-ethanol, bio-gas, green bio-hydrogen, and green methanol.
China and Maldives Sign Trade Agreement Amidst Maldives' Debt Concerns
• China's central bank, the People's Bank of China (PBoC), has signed a memorandum of
understanding (MoU) with the Maldivian Ministry of Economic Development and Trade to
strengthen trade and investment.
• The agreement aims to promote local currency settlement for current account transactions and
direct investment, with no further details provided by PBoC.
• China, as the largest bilateral lender to the Maldives, has been in talks with the Maldivian
government regarding its debt.
• The Maldives owes $1.37 billion to China and $124 million to India in loans, according to World
Bank Data.
Zomato Teams Up with IRCTC to Launch 'Food Delivery in Trains' Service

• Zomato has announced its collaboration with Indian Railway Catering and Tourism Corporation
(IRCTC) to introduce 'Zomato - Food Delivery in Trains'. This service aims to enhance the train
travel experience by allowing passengers to enjoy a variety of dishes from their seats.
• The service is currently operational across 88 cities and has delivered 10 lakh orders across 100
stations since the partnership began.
• Zomato tracks train timings to adjust delivery schedules in case of delays, ensuring timely service
even during schedule changes.
Bilateral Meetings of Indian Delegation Led by Minister of State for Agriculture, Shri Ram Nath Thakur
(Brazil, September 2024)
• Minister of State for Agriculture and Farmers’ Welfare Shri Ram Nath Thakur led the Indian
delegation and the Ambassador of India to Brazil Shri Suresh Reddy and Joint Secretary Shri
Franklin L. Khobung, Department of Agriculture & Farmers during the bilateral meetings.
• Areas of Cooperation: Focus on technology, food processing, cold storage, sustainability, and
agricultural productivity.
Metro Bank Partners with Infosys to Enhance Digital Capabilities and Business Operations
• Metro Bank, the UK’s community-focused bank, has announced a long-term collaboration with
Infosys, a global leader in digital services and consulting, to significantly improve its IT and support
functions.
• This partnership aligns with Metro Bank’s ongoing efforts to boost efficiency and cut costs while
undergoing a digital transformation to optimize business operations.
• Infosys will play a crucial role in enhancing Metro Bank’s digital capabilities, focusing on improving
automation, refining data management, and embedding AI technologies to streamline processes and
enhance customer experience.
REC Signs MoUs for Renewable Energy Projects Worth ₹1.12 Lakh Crore
• REC has signed non-binding memorandum of understandings (MoUs) with Renewable Energy
(RE) developers aggregating about Rs 1.12 lakh crore, which will be implemented over a period
of 5 years.
o Total MoUs Signed: Approximately ₹1.12 lakh crore.
o Duration: Over 5 years.
o Types of Projects Covered: Solar and wind hybrid projects, solar and wind RTC projects, FDRE
power, floating solar plants, ultra mega renewable energy parks, hydroelectric power projects,
battery energy storage systems (BESS), pumped storage, hydropower, green
ammonia/hydrogen, solar cell/module manufacturing, and other innovative technologies.
MoU Signed Between ARIES and BEL for Space Situational Awareness
● The Aryabhatta Research Institute of Observational Sciences (ARIES), Nainital, has signed a
Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL), a Navaratna
Defence PSU, to collaborate on space technologies with a specific focus on Space Situational
Awareness (SSA).
● Objective: The collaboration aims to develop advanced technologies for tracking space objects,
including near-Earth objects and artificial satellites, to enhance satellite safety and user
protection.
● This MoU aligns with the Indian government's ‘Atmanirbhar Bharat’ and ‘Make-in-India’ initiatives,
aiming to bolster India's technological capabilities in space.
● The MoU was signed at BEL's Ghaziabad Unit by Prof. Dipankar Banerjee, Director of ARIES,
and Ms. Rashmi Kathuria, GM (SCCS) & Unit Head of BEL, with other senior officials from both
organizations present.
India Signs Agreements under the Indo-Pacific Economic Framework (IPEF)
● During Prime Minister Narendra Modi’s three-day visit to the U.S. for the Quad Summit, India signed
two significant agreements under the Indo-Pacific Economic Framework (IPEF), focusing on clean
energy, anti-corruption, and trade transparency.
● These agreements aim to foster a “clean” and “fair economy,” enhancing India's sustainability efforts
and collaboration with IPEF member countries, including the U.S., Australia, Brunei Darussalam, Fiji,
Indonesia, Japan, and Korea.
● IPEF Structure:
o Launched in Tokyo on 23 May 2022, comprising 14 partner countries.
o Structured around four pillars: trade, supply-chain resilience, clean economy, and fair
economy.
● A memorandum of understanding was signed between Indian, Singaporean, and Japanese
companies for a green ammonia plant in Thoothukudi, Tamil Nadu.
● Sembcorp will invest ₹36,238 crore in this project, marking a significant milestone in India’s green
energy ambitions.
Zoho Joins ONDC With Seller App Vikra, Launches Low-Code Platform Zoho IoT
● Chennai-based global technology company Zoho has introduced two major offerings at its annual
user conference, Zoholics India.
● These new products—Vikra and Zoho IoT—represent significant advancements in digital commerce
and Internet of Things (IoT) solutions.
Tata Electronics' Landmark Agreement with PSMC for India's First Semiconductor Fab
● Tata Electronics has finalised a Rs 91,000 crore ($11 billion) Definitive Agreement with Powerchip
Semiconductor Manufacturing Corporation (PSMC) of Taiwan, marking a significant step toward
building India's first AI-enabled semiconductor fabrication plant in Dholera, Gujarat.
Department of Space and Technology launched the Women in Space Leadership Programme in
Collaboration with the British Council
● The Women in Space Leadership Programme (WiSLP) was inaugurated by the Department of
Science and Technology (DST) in collaboration with the British Council, as part of the UK-India
Education and Research Initiative (UKIERI).
● Objective of the InitiativeFocus: To support institutions in enhancing gender-inclusive practices
and fostering women’s leadership in space sciences.
India and Republic of Uzbekistan sign Bilateral Investment Treaty in Tashkent
● The Bilateral Investment Treaty (BIT) between the Government of the Republic of India and the
Government of the Republic of Uzbekistan was signed by Union Minister for Finance and
Corporate Affairs Smt. Nirmala Sitharaman and H.E. Mr. Khodjayev Jamshid Abdukhakimovich,
Deputy Prime Minister of Uzbekistan, in Tashkent.
RANKING AND REPORTS

Telangana, Tamil Nadu, and Rajasthan Record Highest GSDP Growth in FY24
• Telangana, Tamil Nadu, and Rajasthan have recorded the highest growth in real Gross State
Domestic Product (GSDP) in FY24 among India's ten largest states.
• Growth Rates:
o Telangana (9th largest state) grew its economy by 9.2%, reaching a real GSDP of ₹7.9
lakh crore, surpassing the national GDP growth of 8.2%.
o Tamil Nadu (3rd largest state) grew by 8.2%, achieving a real GSDP of ₹15.7 lakh crore.
o Rajasthan (7th largest state) recorded an 8% growth.
Top Celebrity Taxpayers of India in 2024: Shah Rukh Khan Leads the Pack
• In 2024, Shah Rukh Khan has topped the list of highest tax-paying celebrities in India, reportedly
contributing ₹92 crore, according to Fortune India.
• He is closely followed by actor Vijay, who paid ₹80 crore, and Salman Khan, with a tax
contribution of ₹75 crore.
• Key Points:
• Top 3 Taxpayers:
o Shah Rukh Khan: Paid ₹92 crore in taxes, the highest among all Indian celebrities.
o Vijay: Paid ₹80 crore, securing the second spot.
o Salman Khan: Paid ₹75 crore in taxes.
Kerala and Andhra Pradesh Lead in Ease of Doing Business Rankings

• Kerala and Andhra Pradesh have been recognized as the top performers in promoting ease of
doing business under the Business Reforms Action Plan (BRAP), according to a recent official
statement from the Ministry of Commerce and Industry.
• Top Performers:
• Kerala
o Ranked as the top performer for promoting ease of doing business.
• Andhra Pradesh
o Followed Kerala as the second-best performer.
Kerala Shines in Business Reforms and Citizen Services at National Awards

• Kerala has been recognized as a leader in business-centric and citizen-centric reforms according
to the Union Ministry of Commerce and Industry.
• The state excelled in two business-related categories and seven citizen-focused categories in the
recent Business Reforms Action Plan '22 (BRAP 22) rankings.
• Event: Conference of State Industries Ministers, held on Thursday at the Yashobhumi
Convention Centre, New Delhi.
• Award Presented By: Union Minister of Commerce Piyush Goyal.
• Recipient: P Rajeev, Minister for Industries, Law, and Coir, Government of Kerala.
Haryana Cities Feature Prominently Among India's Most Polluted: Urgent Need for Reform
• A recent analysis reveals that 15 out of 24 cities in Haryana ranked among India's 100 most
polluted cities in the first half of 2024 based on PM2.5 levels.
• This data underscores the escalating issue of particulate pollution in the state.
• Cities Exceed National and Global Standards
• National Standards: India’s National Ambient Air Quality Standards (NAAQS) set annual limits for
PM2.5 and PM10 at 40 micrograms per cubic meter and 60 micrograms per cubic meter,
respectively.
From Anil Kapoor to Ashwini Vaishnaw: Indians shine in TIME100 most influential people in AI 2024
Featured Indians on the List
• TIME magazine’s prestigious list of the 100 "Most Influential People in AI 2024," released,
includes 15 prominent Indian or Indian-origin individuals. Key names featured are:
• Ashwini Vaishnaw: Union Information Technology Minister of India.
• Nandan Nilekani: Co-founder of Infosys.
• Anil Kapoor: Renowned Indian actor.
• Sundar Pichai: CEO of Google.
• Satya Nadella: CEO of Microsoft.
South India secures 40% share in NIRF top 25 rankings for last 5 years
o South Indian institutions have consistently secured a significant portion of the top 25 spots in the
National Institutional Ranking Framework (NIRF) over the past five years.
o At least 40 percent of the top 25 spots have been occupied by institutions from South Indian states:
Tamil Nadu, Kerala, Karnataka, Andhra Pradesh, and Telangana.
o Tamil Nadu has emerged as the leading state among South Indian states, frequently placing the
highest number of institutes in the top 25.
IGI world’s 24th best-connected airport rises one spot
• Indira Gandhi International Airport (IGIA) in Delhi has moved up to 24th position in the latest global
rankings, improving from 25th in 2023, according to the Official Airline Guide (OAG).
• Chhatrapati Shivaji Maharaj International Airport in Mumbai fell to 44th position, down from 34th last
year.
• NetZero Carbon Emission Compliance: IGIA has become the first airport in India to achieve this
status.
• Top Performer: London’s Heathrow Airport (LHR) retained its position as the most internationally
connected airport in the world.
India Retains Top Spot in Global Cryptocurrency Adoption Amid Regulatory Challenges
• India has maintained its leadership position in global cryptocurrency adoption for the second
consecutive year, despite facing stringent regulations and high trading taxes.
• This insight comes from a recent report by blockchain analytics firmChainalysis.
• India ranks highly in the use of both centralized exchanges and decentralized finance (DeFi)
assets from June 2023 to July 2024.
Top 5 countries:
• India
• Nigeria
• Indonesia
• United States
• Vietnam
India Overtakes China in MSCI Equities Index
• For the first time, India has surpassed China in a key MSCI equities index, signaling India's
growing prominence in global markets.
• India’s weight in the MSCI investible large-, mid-, and small-cap index has risen to 2.35%,
surpassing China’s 2.24%, as per a note by Morgan Stanley.
• India’s stock markets have been among the best performers globally this year, with NSE Nifty 50
and S&P BSE Sensex rising by 17% and 15% respectively.
Economic Liberalisation and Its Impact on State GDP Shares (1990-2024)
• A working paper by the Economic Advisory Council to the Prime Minister (EAC-PM) highlights
the significant effects of economic liberalisation that began in the 1990s, particularly on certain
states in India.
• States like Gujarat, Haryana, Karnataka, Tamil Nadu, and Delhi have notably increased their
share of the national GDP from 1990-91 to 2023-24.
• Maharashtra's GDP share decreased from 14.6% in 1990-91 to 13.3% in 2023-24, although it
remains the highest among all states.
Wayanad Ranks Fifth in Kerala for Landslide Susceptibility in ISRO's 2023 Landslide Atlas
● In the 2023 Landslide Atlas of India prepared by ISRO's National Remote Sensing Centre (NRSC),
Wayanad ranks fifth in Kerala and 13th nationally out of 147 districts across 17 states and two Union
Territories.
● Wayanad’s landslide risk was highlighted after the July 30, 2024 disaster, underscoring the district's
vulnerability to such events.
1. Other Highly Prone Districts in Kerala:
● Other districts in Kerala identified as highly susceptible to landslides include:
o Thrissur (3rd nationally)
o Palakkad (5th nationally)
o Malappuram (7th nationally)
o Kozhikode (10th nationally)
2. ISRO’s Landslide Atlas of India:

o The Landslide Atlas of India, published by the NRSC in February 2023, provides detailed
mapping of landslide occurrences based on geospatial data and satellite imagery. It maps
around 80,000 landslides from 1998 to 2022, categorized as seasonal, event-based, or
route-wise inventories.
India climbs one position to 39th rank in Global Innovation Index 2024
● India has achieved a significant milestone by climbing to the 39th position among 133 global
economies in the Global Innovation Index (GII) 2024, as announced by Union Minister Piyush Goyal.
● This advancement highlights India’s leadership in the Central and Southern Asia region and its
dominance among lower-middle-income economies.
Key Achievements:
● Top Rankings:
o 1st in the Central and Southern Asia region.
o 1st among lower-middle-income economies.
o 4th in the WIPO’s Science & Technology Cluster Rankings.
o Cities like Mumbai, Delhi, Bengaluru, and Chennai rank in the global top 100 S&T clusters.
o 7th globally in intangible asset intensity.
● Historical Progress:
o India was ranked 81st in 2015 and has now risen to 39th, driven by a thriving innovation
ecosystem powered by entrepreneurs, startups, and public-private partnerships.
Global Performance Overview:
● In the Central and Southern Asia region, India (39th) continues to lead, advancing by one spot:
o Iran is ranked 64th (down two places).
o Kazakhstan holds the 78th position.
o Uzbekistan remains at 83rd.
● Fast Climbers:
o Countries such as China, Turkey, Vietnam, and the Philippines have shown significant
improvement over the last decade.
Global Rankings of Top Innovators:
1. Switzerland
2. Sweden
3. United States
4. United Kingdom
5. Singapore
6. Finland
7. Netherlands
8. Germany
9. Denmark
10. Republic of Korea
Central and Southern Asia Region Rankings:
GII Rank Economy Income Group Rank Region Rank
39 India 1 1
64 Iran (Islamic Republic of) 6 2
78 Kazakhstan 25 3
83 Uzbekistan 10 4
88 Pakistan 12 5
90 Sri Lanka 13 6
105 Bangladesh 22 7
106 Kyrgyzstan 23 8
108 Nepal 24 9
111 Tajikistan 27 10
IMD World Talent Ranking 2024: Switzerland Retains Top Spot, India Declines in Global
Competitiveness
● The IMD World Talent Ranking 2024 has revealed significant insights into global talent hubs, with
Switzerland maintaining its lead in investment, development, and appeal factors.
● The IMD World Talent Ranking 2024 shows the overall ranking for 67 economies.
● The economies are ranked from the most to the least competitive, and the change from the Previous
year’s rankings is also shown.
● The ranking evaluates countries based on their ability to develop, retain, and attract highly qualified
domestic and international talent.
Key Highlights:
● Top Talent Hubs:
o 1. Switzerland: Excels in quality of life, health infrastructure, educational attainment, statutory

minimum wage, and foreign personnel attraction.
o 2. Singapore: Climbed from 18th in 2014 to 2nd, noted for its rich talent pool, low
discrimination, and strong skilled labour availability.
o 3. Luxembourg
o 4. Sweden
o 5. Denmark
o 6. Iceland
o 7. Norway
o 8. Netherlands
o 9. Hong Kong SAR: Reinforces Asia’s competitive presence.
o 10. Austria
India's Performance:
● Global Rank: 58th, down from 56th last year and 52nd in 2022, with a talent score of 40.47.
ACQUISITION AND MERGERS

Gujarat Gas Board Approves Merger and Demerger Plan Involving Gujarat State Petroleum Corporation
Limited and GSPL
• The board of Gujarat Gas Limited (GGL) approved a scheme of arrangement and amalgamation
involving Gujarat State Petroleum Corporation Limited (GSPC), GSPC Energy Limited, and
Gujarat State Petronet Limited (GSPL) merging into GGL.
• The arrangement outlines the integration of GSPC, GSPL, and GEL with GGL.
• The scheme also includes the demerger of GGL's Gas Transmission Business, which will be
separately listed as GSPL Transmission Limited (GTL) on stock exchanges.
National Stock Exchange Divests Digital Examination Business to CL Educate for ₹230 Crore
● The National Stock Exchange (NSE) has sold its digital examination business (DEX) to CL
Educate for Rs 230 crore.
● The move is part of the country’s top bourse’s plan to divest non-core businesses.
● Transaction Details:The transaction involves a non-binding offer with the payment amount being
₹230 crore in cash.
● An additional ₹75 crore is payable contingent upon achieving certain business milestones.
Competition Commission of India Clears $8.5 Billion Merger Between Reliance and Disney India
• The Competition Commission of India (CCI) has approved the $8.5 billion merger between
Reliance Industries Limited and Disney’s Indian media assets.
• CCI has not yet specified any voluntary modifications for the original merger deal made by the
two companies.
• The merger aims to create the largest entertainment player in India to compete with major
players like Sony, Netflix, and Amazon.
About CCI :
• Established : 14 October 2003
• Chairman : Ravneet Kaur
• The CCI is the chief national competition regulator in India.
• It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the
Competition Act, 2002 to promote competition and prevent activities that have an appreciable
adverse effect on competition in India.
Rakesh Gangwal’s Family Trust Sells 5.83% Stake in IndiGo for ₹10,500 Crore
● InterGlobe Aviation promoter Rakesh Gangwal and his family trust have reduced their stakes in
the airline by selling a combined 5.83% shareholding for about Rs 10,500 crore.
● A total of 2.25 crore shares or 5.83% holding in InterGlobe Aviation were sold by Gangwal and
Chinkerpoo Family Trust, whose trustees are Shobha Gangwal and JP Morgan Trust Company
of Delaware.
● In two separate regulatory filings, Rakesh Gangwal sold 22.50 lakh shares of InterGlobe Aviation
and the Chinkerpoo Family Trust disposed of more than 2.02 crore script of the airline.
● After the share sale, Gangwal's stake in InterGlobe Aviation has come down to 5.31% from
5.89%, while the Chinkerpoo Family Trust's stake has declined to 8.24% from 13.49%.
Finance Ministry to Divest 6.78% Stake in GIC Re for Rs 4,700 Crore
• The Union Ministry of Finance will dilute a 6.78% stake in General Insurance Corporation of India
(GIC Re) to raise approximately Rs 4,700 crore.
• This is the first stake sale since GIC Re's listing in 2017.
• The sale will be through the OFS route, beginning with non-retail investors.
• 3.39% equity stake will be divested.

Ministry of Corporate Affairs Implements Deal Value Threshold Norms Mandating Notification of
Mergers and Acquisitions Exceeding ₹2,000 Crore to Competition Commission of India for Approval
• The Ministry of Corporate Affairs (MCA) has introduced the Deal Value Threshold (DVT) norms,
which require mergers and acquisitions (M&As) with a deal value above ₹2,000 crore to be notified
to the Competition Commission of India (CCI) for approval.
• The implementation of DVT is expected to increase the number of relevant filings with the CCI by
30%, raising the compliance burden on companies.
Yes Bank Stake Sale Faces RBI Obstacle; Regulator Reluctant to Allow Majority Foreign Ownership
• The proposed stake sale of Yes Bank has encountered a regulatory roadblock as the Reserve
Bank of India (RBI) is reluctant to allow a foreign institution to hold a majority stake in the bank.
• Japanese lender Sumitomo Mitsui Banking Corp (SMBC) and Dubai-based Emirates NBD are
interested in acquiring a majority stake of over 51% in Yes Bank.
• Sumitomo Mitsui is a unit of Sumitomo Mitsui Financial Group, Japan’s second-largest bank.
About Yes Bank :
• MD & CEO : Prashant Kumar
• Tagline : Experience our expertise
Competition Commission of India Grants Approval for Naspers Ventures B.V.'s Acquisition of Vastu
Housing Finance Corporation Limited
● The Competition Commission of India (CCI) has approved the proposed acquisition by Naspers
Ventures B.V. in Vastu Housing Finance Corporation Limited.
● Naspers Ventures B.V. (Naspers Ventures/ Acquirer) is an indirect, wholly owned subsidiary of
Prosus N.V. (Prosus).
● The Acquirer is an investment holding company and its principal activity is to make investments
by providing direct and indirect equity and debt funding.
● The proposed transaction involves the acquisition of less than 10% equity shareholding (on a
fully diluted basis) in VHFCL by Naspers Ventures.
About Naspers Limited :
● Naspers Limited is a South African multinational internet, technology and multimedia holding
company headquartered in Cape Town, with interests in online retail, publishing and venture
capital investment.
DEFENCE NEWS
Indian Army Launches Project NAMAN: SPARSH-Based Service Centres Established Nationwide
● The Indian Army launched the first phase of Project NAMAN in the presence of General Upendra
Dwivedi, Chief of the Army Staff, and Mrs. Sunita Dwivedi, President of the Army Wives Welfare
Association (AWWA).
● Objective of Project NAMAN:Project NAMAN is designed to provide dedicated support and
services to Defence Pensioners, Veterans, and their families.
● It is centred around the implementation of the SPARSH (System for Pension Administration
Raksha) digital pension system to streamline pension-related processes.
● Cabinet Minister : Rajnath Singh
● Minister of State : Sanjay Seth
Defence Research and Development Organisation Transfers Production Documentation for 30mm High
Explosive Preformed Fragmentation Shell to the Director General of Naval Armament Inspection
• The Defence Research and Development Organisation (DRDO) handed over the production
document for the 30mm High Explosive Preformed Fragmentation (HEPF) Shell to the Director
General of Naval Armament Inspection (DGNAI).
• The ceremony took place at the Armament Research and Development Establishment (ARDE) in
Pashan, Pune.
• This 30mm HEPF shell, developed by ARDE, the Pune-based laboratory of DRDO, will further
enhance the combat capability of the Indian Navy against drones.
About DRDO :
• Chairman : Sameer V. Kamat
Indian Army Hands Over 'Xploder' and 'Agniastra' Technologies to Private Firms for Large-Scale
Production
• In a major stride towards technological self-reliance, the Indian Army announced the successful
transfer of technology (ToT) for its indigenously developed "Xploder" UGV and "Agniastra"
detonation system to private Indian firms.
• This landmark development, part of the Army's "Year of Tech Absorption," underscores its
unwavering commitment to modernization and operational excellence.
About Indian Army :
• Headquarters : New Delhi, Delhi
• Chief of the Army Staff : General Upendra Dwivedi
Department of Defence Production Becomes Licensing Authority for Ammunition Exports under Special
Chemicals, Organisms, Materials, Equipment and Technologies
• The Directorate General of Foreign Trade (DGFT) has designated the Department of Defence
Production (DDP) under the Ministry of Defence as the licensing authority for the export of
ammunition items listed under Category 6 of the SCOMET (Special Chemicals, Organisms,
Materials, Equipment and Technologies) meant for military use.
• The DGFT, under the Ministry of Commerce and Industry, has notified and updated the SCOMET
list for 2024.
• The list is outlined in Appendix 3 to Schedule 2 of the ITC (HS) Classification of Export and
Import Items.
About Ministry of Defence (MoD) :
• Cabinet Minister : Rajnath Singh
• Minister of State : Sanjay Seth
India's First Indigenous Combat Drone FWD 200B Successfully Takes Flight
• In a historic leap for India's defence capabilities, Flying Wedge Defence and Aerospace (FWDA)
has successfully launched India's first indigenously built combat unmanned aerial vehicle (UAV),
the FWD 200B.
• This marks a significant milestone, as India joins the ranks of nations equipped with advanced
unmanned combat aircraft.
• The bomber FWD 200B is classified as a Medium Altitude Long Endurance (MALE) unmanned
combat aerial vehicle (UCAV) and represents India's increasing self-reliance in defence
technology.
About FWDA :
• FWDA was incorporated in 2022 and holds patents for killer drones and bomber UAVs.
• It is the first Indian company to receive Directorate General of Civil Aviation (DGCA) type
certification for indigenous UAV technology.
• Founder and CEO : Suhas Tejaskanda
Indian Army Suspends Purchase of 200 Logistic Drones from Dhaksha Unmanned Systems Amid
Chinese Parts Allegations
• The Indian Army has put on hold the acquisition of 200 logistic drones from Dhaksha Unmanned
Systems Private Limited, a Chennai-based subsidiary of Coromandel International.
• Reason for Suspension:The suspension follows allegations that Dhaksha Unmanned Systems is
using Chinese parts in their unmanned aerial vehicles (UAVs).
About Indian Army :
• Chief of the Army Staff : General Upendra Dwivedi
Indian Naval Ship Tabar Arrives in Malaga, Spain for a Two-Day Visit
● Indian Navy’s frontline stealth frigate, INS Tabar commanded by Captain MR Harish arrived at
Malaga, Spain on 25 Aug 24 for a two day visit to enhance the existing bilateral relations
between India and Spain.
● The visit aims to enhance the existing bilateral relations between India and Spain, which were
established in 1956.
● Purpose of the Visit:The visit by INS Tabar seeks to strengthen diplomatic and defense ties
between India and Spain.
Indian Naval Ship Tabar and P8I Aircraft Participate in 22nd India-France Naval Exercise VARUNA in
the Mediterranean sea
• Indian Naval Ship (INS) Tabar, an Indian Navy frontline stealth frigate, commanded by Captain
MR Harish, visited Toulon, France from 29 August to 01 September 2024, and later participated
in the 22nd edition of Exercise VARUNA from 02 to 04 September 2024 in the Mediterranean
Sea.
• India was represented by INS Tabar, a shipborne helicopter, and LRMR Aircraft P8I.
• France was represented by FS Provence, Submarine Suffren, Aircraft F20, Atlantique2, fighters
MB339, and helicopters NH90 and Dauphin.

Indian Army and Indian Air Force signs MoU with Gati Shakti Vishwavidyalaya
• To enhance the skills and capability building of personnel from the Indian Army and Indian Air
Force, a Memorandum of Understanding (MoU) was signed with Gati Shakti Vishwavidyalaya,
Vadodara.
• The signing took place in the presence of Raksha Mantri Shri Rajnath Singh and Minister of
Railways Shri Ashwini Vaishnaw in New Delhi on September 09, 2024.
• The MoU aims to enable the two Services to acquire higher expertise in logistics and develop in-
house knowledge on various aspects of logistics operations, contributing to the national
development plans – PM Gati Shakti National Master Plan 2021 and National Logistics Policy
2022.
Naval might: 2 anti-submarine warfare ships launched at Cochin Shipyard
o The Indian Navy launched the fourth and fifth ships of the 8 Anti-Submarine Warfare Shallow Water
Craft (ASW SWC) project.
o The ships, Malpe and Mulki, were built by Cochin Shipyard Limited (CSL), Kochi.
o The launch was conducted by Mrs. Vijaya Srinivas in the presence of Vice Admiral V. Srinivas, Flag
Officer Commanding in Chief, Southern Naval Command, in line with maritime traditions.
MoD signs ₹26,000-crore contract with HAL for 240 SU-30MKI jet engines
• The Defence Ministry signed a ₹26,000-crore contract with Hindustan Aeronautics Limited (HAL)
for 240 aero-engines to power the Indian Air Force's (IAF) Sukhoi-30 MKI fighter aircraft.
• The deal was cleared by the Cabinet Committee on Security on September 2.
• HAL will supply 30 AL-31FP engines annually from its Koraput facility in Odisha, with the delivery
scheduled for completion over eight years.
• The engines will be manufactured from the raw material stage with technology transfer from
Russia.
Indian Navy and South African Navy Sign Agreement to Boost Submarine Rescue Support Cooperation
• The Indian Navy has signed an agreement with the South African Navy to rescue its Submarine
personnel who have met an accident or are in distress in the deep sea.
• This agreement between the two Navies will further strengthen the longstanding maritime
relationship between India and South Africa.
• The agreement, officially called the Implementing Agreement, was signed by the Indian Chief of
Naval Staff, Admiral Dinesh Kumar Tripathi, and the Chief of the South African Navy, Vice
Admiral Monde Lobese.
About Indian Navy :
• Chief of the Naval Staff : Admiral Dinesh K Tripathi
Indian Army Contingent Leaves for India-Oman Joint Military Exercise Al Najah V
• The Indian Army contingent departed for the 5th edition of India-Oman Joint Military Exercise AL
NAJAH.
• The exercise is scheduled to be conducted from 13th to 26th September 2024 at Rabkoot
Training Area in Salalah, Oman.
• Exercise AL NAJAH has been held biennially since 2015, alternating between India and Oman.
• The 4th edition of the exercise was conducted at Mahajan in Rajasthan.
About Oman :
• Capital : Muscat
• Currency : Omani rial
Defence Research & Development Organisation and Indian Navy Conduct Successful Flight Test of
Vertical Launch Short Range Surface-to-Air Missile off Odisha Coast
• The Defence Research & Development Organisation (DRDO) and the Indian Navy successfully
conducted a flight test of the Vertical Launch Short Range Surface-to-Air Missile (VL-SRSAM).
• The test was carried out from the Integrated Test Range (ITR) in Chandipur, off the coast of
Odisha, at approximately 1500 hours.
• The flight test was carried out from a land-based vertical launcher, targeting a high-speed aerial
target flying at a low altitude.
About DRDO :
About Indian Navy :
• Chief of the Naval Staff (CNS) : Admiral Dinesh K Tripathi

• Vice Chief of the Naval Staff (VCNS) : Vice Admiral Krishna Swaminathan
Cochin Shipyard Launches Two Anti-Submarine Warfare Vessels for Indian Navy
• Two Anti-Submarine Warfare Shallow Watercrafts (ASWCWC) of the Indian Navy, INS Malpe
and INS Mulki, were launched at Cochin Shipyard.
• These vessels are indigenously designed and constructed by Cochin Shipyard Limited (CSL).
• They are part of a series of eight ASWCWC vessels being built under a contract signed between
the Ministry of Defence (MoD) and CSL on April 30, 2019.
• Replacement of Abhay Class:These vessels, known as the Mahe Class, will replace the Abhay
Class ASW Corvettes in the Indian Navy.
Hindustan Aeronautics Limited to Deliver Final 4 Light Combat Aircraft Mk-1 Trainer Aircraft to IAF
Within Six Months
• Hindustan Aeronautics Limited (HAL) will deliver the final four LCA Mk-1 trainers to the Indian Air
Force (IAF) by March 31, 2025.
• The LCA Mk-1 trainers are twin-seater jets used for pilot training but can also function as fighters
when required.
• Slow Progress: The LCA Mk-1 programme experienced delays. The Initial Operational Clearance
(IOC) contract was signed in 2006 (completion by 2011), and the Final Operational Clearance
(FOC) contract in 2010 (completion by 2016).
Defence Research and Development Organisation successfully completed initial phase of

Developmental Field Firing Trials for Indian Light Tank 'Zorawar'
• The Defence Research and Development Organisation (DRDO), successfully conducted the
preliminary automotive trials of the Indian light Tank, Zorawar, a highly versatile platform capable
of deployment in high-altitude areas.
• Zorawar has been successfully developed by the Combat Vehicles Research & Development
Establishment (CVRDE), a unit of the Defence Research and Development Organisation (DRDO),
in collaboration with Larsen & Toubro Limited.
About DRDO :
• Founded : 1958
Indian Air Force Successfully Concludes Eastern Bridge VII Exercise at RAFO Masirah
● The Indian Air Force (IAF) has successfully completed Exercise Eastern Bridge VII with the
Royal Air Force of Oman (RAFO) at the RAFO airbase in Masirah.
● The main goal was to enhance military cooperation and interoperability between the IAF and
RAFO.
● IAF Contingent: The IAF contingent returned to India after a series of training missions involving
MiG-29 and Jaguar aircraft.
● Aircraft Participation: The exercise featured aircraft from both IAF (MiG-29, Jaguar) and RAFO
(F-16, Hawk).
Defence Research and Development Organisation Hands Over High-Altitude Sustenance Technologies
to Power Grid Corporation of India Limited
● The Defence Institute of Physiology and Allied Sciences (DIPAS), a leading laboratory under the
Defence Research and Development Organisation (DRDO) handed over critical high-altitude
sustenance technologies to the Power Grid Corporation of India Ltd (PGCIL) during an
orientation workshop on September 21, 2024, at PGCIL’s regional headquarters in Jammu.
● This workshop was organised to prepare employees for high-altitude operations as part of the
5000 MW Pang-Kaithal High Voltage Direct Current (HVDC) Project in Ladakh.
● The Pang-Kaithal HVDC Project, located at an altitude of 15,760 feet, is a significant step
towards energy security in the region of Ladakh and the wider integration of solar power into
India’s national grid.
About DRDO :
● Headquarters : New Delhi, India
● Chairman : Sameer V. Kamat
Indian Navy Set to Host the 5th edition of Goa Maritime Symposium
● The 5th edition of Goa Maritime Symposium (GMS) 2024 was hosted by the Indian Navy from
23-24 September 24 under the aegis of Naval War College, Goa.
● This edition of the Goa Maritime Symposium was conducted in the newly inaugurated, state-of-
the-art Chola building of the Naval War College.
● Theme : The theme for GMS 2024 was "Common Maritime Security Challenges in the Indian
Ocean Region (IOR) – Progressing Lines of Effort to Mitigate Dynamic Threats such as IUU
Fishing and Other Illegal Maritime Activities."
● The theme aligns with the Indian Government’s vision of Security and Growth for All in the
Region (SAGAR).
● Participants: Representatives from 12 Indian Ocean Littoral countries: Bangladesh, Comoros,
Indonesia, Madagascar, Malaysia, Maldives, Mauritius, Myanmar, Seychelles, Singapore, Sri
Lanka, and Thailand.
● Observers from Kenya and Tanzania.
About Goa Maritime Symposium (GMS) :
● It was conceptualised and instituted by the Indian Navy in 2016.
● The symposium is conducted biennially by the Naval War College (NWC), Goa.
● 4th edition of the biennial Goa Maritime Symposium was conducted successfully by the Indian
Navy at Goa from 31 October to 01 November 2022.
About the Indian Ocean Rim Association :
● Established in 1997 as an intergovernmental organization of states on the rim of the Indian
Ocean.
● The association has 23 member states and 11 dialogue partners from regions including Africa,
West Asia, South Asia, Southeast Asia, Europe, and Oceania.
Defence Research & Development Organisation and Indian Institute of Technology Delhi Collaborate to
Create Lightweight Bulletproof Jackets Named Advanced Ballistics for High Energy Defeat
● The Defence Research & Development Organisation (DRDO), along with researchers of Indian
Institute of Technology (IIT) Delhi has developed Light Weight Bullet Proof Jackets named
ABHED (Advanced Ballistics for High Energy Defeat).
● The jackets have been developed at the DRDO Industry Academia Centre of Excellence (DIA-
CoE) at IIT, Delhi.
● Weight Specifications: The jackets weigh a minimum of 8.2 kg and 9.5 kg for different Bureau of
Indian Standards (BIS) levels, providing modular design with front and rear armors for 360-
degree protection.
Defence Research & Development Organisation and Indian National Academy of Engineering Host 11th
Engineers Conclave in Hyderabad to Explore Advancements in Indigenization and Emerging
Technologies
● The 11th Engineers Conclave, organized jointly by the Defence Research & Development
Organisation (DRDO) and the Indian National Academy of Engineering (INAE), commenced on
September 26, 2024, in Hyderabad.
● The aim of the two-day annual conclave is to deliberate on two strategic priorities i.e., ‘Additive
Manufacturing for Defence Applications’ and ‘Defence Manufacturing Technologies’.
● The event, being held at Defence Research & Development Laboratory (DRDL) of DRDO, brings
together engineers, scientists, academicians and industry leaders to discuss emerging
technologies & advancements in indigenisation.
Admiral Dinesh K. Tripathi, Chief of Naval Staff, Undertakes Official Visit to Greece
● Admiral Dinesh K Tripathi, Chief of the Naval Staff (CNS), is on a four day official visit to Greece
from 26 to 29 Sep 2024.
● The visit aims to consolidate bilateral defense relations between India and Greece, with a focus
on enhancing naval cooperation.
● During the visit, the CNS will engage in bilateral discussions with senior Greek defence officials,
including Mr Ioannis Kefalogiannis, Deputy Minister of Defence, Vice Admiral Dimitrios E
Kataras, Chief of the Hellenic Navy General Staff (HGNS), Vice Admiral Christos Sasiakos,
Deputy Chief of Hellenic National Defence General Staff.
Delivery of the 5th Missile Cum Ammunition Barge, LSAM 13 (Yard 81), for INS Tunir Completed
● The Missile Cum Ammunition Barge (MCA), LSAM 13 (Yard 81), was delivered on September
25, 2024, at Naval Dockyards, Mumbai, for INS Tunir.
● The ceremony was presided over by Commodore C. Rami Reddy, Commanding Officer of INS
Tunir.
● LSAM 13 is the fifth barge in the project to construct a total of eight Missile Cum Ammunition
Barges, built by MSME Shipyard, M/s SECON Engineering Projects Private Limited,
Visakhapatnam.
Shankh Air, India's Latest Airline by Shankh Aviation Private Limited, Receives Union Civil Aviation
Ministry Approval to Commence Operations
● Shankh Air, India’s newest airline owned by Shankh Aviation Private Limited, has got approval
from the Union Civil Aviation Ministry to start operations.
● The No Objection Certificate (NOC) issued to the airline is valid for 3 years.
● However, Shankh Air will also need clearance from the aviation regulator, Directorate General of
Civil Aviation (DGCA), before starting flights.
● Shankh Air will be the first scheduled airline to launch from Uttar Pradesh.
● Shankh Air is set to launch its flight services with a fleet of new-generation Boeing 737-800NG
narrow-body aircraft.
● With more than 60% of the Indian aviation market, IndiGo is the market leader.
● The second-biggest airline in the nation is called Air India.
India Hosts Second IORA Seminar on Illegal, Unreported, and Unregulated (IUU) Fishing at Naval War
College, Goa
● The second edition of the Indian Ocean Rim Association (IORA) seminar on Illegal, Unreported
and Unregulated (IUU) Fishing was conducted at Naval War College, Goa on 25 Sep 2024.
● The seminar focused on reviewing IUU fishing activities in the Indian Ocean Region (IOR),
highlighting their economic, environmental, and security implications, as well as the legal gaps in
addressing these issues.
● The first edition of the seminar on IUU fishing under IORA was conducted by the Indian Navy at
Goa on 2nd November 2022.
About IORA:
● Established: 1997.
● Headquarters: Ebene, Mauritius.
● Secretary General: Salman Al Farisi.
● Membership: IORA has 23 member countries from Africa, West Asia, South Asia, Southeast
Asia, and Australia, including India, Australia, Indonesia, South Africa, Malaysia, UAE, and more.
● Governance: The Council of Foreign Ministers is IORA's apex body, meeting annually.
● The Chair rotates every 2 years among members.
● Sri Lanka is the current Chair, India is the Vice-Chair, and Bangladesh was the previous Chair.
SCIENCE & TECHNOLOGY

Nokia to Build World's Largest Fixed Network Testbed in Chennai to Advance Ultra-High-Speed Internet
Technology
• Nokia is set to establish the world's largest fixed network testbed in Chennai, marking a
significant step towards advancing technology in ultra-high-speed internet access.
• The project involves an investment of approximately US$ 54.07 million (Rs. 450 crore).
• The testbed will concentrate on advancements in 10G, 25G, 50G, and 100G passive optical
networks
• The new facility, to be located at the State Industries Promotion Corporation of Tamil Nadu in
Siruseri, will serve as one of Nokia's major research and development centres.
About Nokia :
• Founded : 12 May 1865
• Headquarters : Espoo, Finland
• Chairwoman : Sari Baldauf
• President & CEO : Pekka Lundmark
International Solar Alliance to Unveil $100 Million Solar Facility and Insurance Initiative to Enhance
Solar Projects Across Africa
• The International Solar Alliance (ISA) will launch a $100 million fund, Global Solar Facility, that
will help catalysing up to $1.5 billion in funding to expand decentralised solar power capacities
across the least developed countries in Africa, where more than 700 million people have no
access to electricity.
• Insurance Mechanism:ISA is developing an insurance mechanism to accelerate investment in
solar projects in impoverished nations.
About ISA :
• Director General : Ajay Mathur
• Membership : 120+ members of UN, incl. the United States, Japan, France, Brazil, Argentina,
Chile, Algeria and Australia etc.
• Purpose : Bring together a group of nations to endorse clean energy, sustainable environment,
public transport and climate
• ISA was originally initiated by India and France to combat climate change through solar power.
Japan's Space Agency Halts Moon Lander Mission After Losing Contact with Uncrewed Spacecraft
• Japan's space agency ended its Moon lander operation after losing communication with the
uncrewed spacecraft.
• The Smart Lander for Investigating Moon (SLIM), dubbed the "Moon Sniper" for its landing
precision, touched down eight months ago-making Japan only the 5th nation to achieve a soft
lunar landing.
• The touchdown of the unmanned lander in January was a success, but it landed at a wonky
angle that left its solar panels facing the wrong way.
About Japan :
• Prime Minister : Fumio Kishida
• Capital : Tokyo
• Currency : Japanese yen
European Union and Council of Scientific and Industrial Research, India Announce Co-Funding to Boost
EU-India Research Collaboration under Marie Skłodowska-Curie Actions
• The European Union and India’s Council of Scientific and Industrial Research (CSIR) have
launched a new co-funding initiative for the Marie Skłodowska-Curie Actions (MSCA) Staff
Exchanges, part of the EU’s research and innovation programme, Horizon Europe.
• Through this scheme, CSIR will top up selected MSCA Staff Exchanges projects, enabling its
institutes to engage in joint research projects with European and international partners and
second their scientific and technical staff to European research organisations for knowledge
sharing and research activities.
About CSIR :
• Founded in 1942
• Location : New Delhi, India
• CSIR is India’s premier research and development organisation, comprising 37 national
laboratories and a dedicated team of over 8,000 scientific and technical staff.
IndiGo Airlines Becomes 1st Indian Carrier to Implement Required Navigation Performance
Authorisation Required Flight Procedure for Safer Landings at Kathmandu's Tribhuvan International
Airport
• IndiGo Airlines has become the first Indian carrier to adopt the Required Navigation Performance
Authorisation Required (RNP AR) flight procedure for operations in Kathmandu, which enables
safer and more efficient landings at the Tribhuvan International Airport, which is nestled in a
valley surrounded by the Himalayas.
• Purpose and Benefits:The RNP AR technology enhances safety and efficiency during landings at
airports with challenging geographical conditions, such as Tribhuvan International Airport.
About Indigo :
• Founded : 2006
• Headquarters : Gurgaon, Haryana, India
• Managing Director: Rahul Bhatia
Pixxel becomes the first Indian space startup to receive an order from the National Aeronautics and
Space Administration
• Bengaluru-based space technology startup Pixxel, which specialises in cutting-edge
hyperspectral earth-imaging technology, has won the largest supplier deal by an Indian company
from the National Aeronautics and Space Administration (NASA).
• It has become part of NASA’s $476-million commercial smallsat data acquisition program.
• This contract period for the program runs through November 2028.
About Pixxel :
• Founded : February 2019
• Co-founder and chief executive officer (CEO) : Awais Ahmed
NASA spacecraft approved for October launch to study underground ocean on Jupiter's moon Europa
• The National Aeronautics and Space Administration (NASA) has approved the launch of the
Europa Clipper spacecraft scheduled for October 2024, following a review of its capability to
withstand Jupiter's intense radiation.
• The Europa Clipper will explore Europa, one of Jupiter’s largest moons, which is noted for its icy
surface and potential subsurface ocean of saltwater. The mission aims to investigate Europa’s
ice shell, geology, and potential habitability.
About NASA :
• Founded: July 29, 1958
• Headquarters: Washington, D.C, United States
• Administrator: Bill Nelson
International Solar Alliance Engages in Exclusive Talks with Africa50 to Oversee $200M Africa Solar
Fund
• International Solar Alliance (ISA) has entered into exclusive discussions with Africa50 to serve as a
potential investment manager for its proposed Africa Solar Facility (ASF).
• The ASF is a $200 million initiative designed to unlock investment in distributed solar projects across
Africa.
• The ASF will play a vital role in expanding energy access, accelerating solar deployment, and driving
sustainable development across the continent.
About ISA :

• Director General : Dr. Ajay Mathur
India Successfully Launches Agni-4 Ballistic Missile from Integrated Test Range in Chandipur, Odisha
• India successfully launched the Agni-4 ballistic missile from the Integrated Test Range (ITR) in
Chandipur, Odisha.
• The test was conducted under the Strategic Forces Command (SFC)
• The Agni missiles are long-range, nuclear-capable surface-to-surface ballistic missiles developed
by India.
• The Agni-4 is a long-range, surface-to-surface ballistic missile with a range of 4,000 kilometres.
Indian Immunologicals Limited Launches Paediatric Dose of Hepatitis A Vaccine

• Indian Immunologicals Limited (IIL) launched its paediatric dose of India’s first indigenous
Hepatitis A vaccine, Havisure.
• IIL is the only company in India to develop an indigenous Hepatitis A vaccine.
• Hepatitis A is a highly contagious liver infection caused by the Hepatitis A virus, which
predominantly affects children and can lead to severe health complications.
• Vaccination is the most cost-effective, yet efficient, method to prevent the disease.
Bharat Biotech and Alopexx Inc. to Co-Develop and Commercialize Anti-Microbial Vaccine AV0328 for
India and Other Low-Income Countries
• Hyderabad-based vaccine maker Bharat Biotech and clinical-stage U.S. biotechnology firm
Alopexx Inc. will collaborate to co-develop and commercialise anti-microbial vaccine AV0328 in
India and other low-income and lower-middle-income countries.
• AV0328 is a proprietary broad-spectrum anti-microbial vaccine candidate from Alopexx.
• It is designed to target poly N-acetyl glucosamine (PNAG), which is present on the surface of a
variety of bacterial, fungal, and parasitic pathogens.
About Bharat Biotech :
• Founded : 1996
• Headquarters : Hyderabad, India
• Executive Chairman : Krishna Ella
Indian Scientists Create 'Brain on a Chip' Technology
• Indian scientists at the Indian Institute of Science (IISc) have developed a groundbreaking “brain
on a chip” technology.
• This technology can store and process data in 16,500 states within a molecular film.
• The advancement was made by a team from IISc’s Centre for Nano Science and Engineering,
including Sreetosh Goswami, Navkanta Bhat, Deepak Sharma, Santi Prasad Rath, Bidyabhusan
Kundu, and Sreebrata Goswami. They collaborated with Anil Korkmaz and R Stanley Williams
from Texas A&M University, and Damien Thompson from the University of Limerick.
Indian Immunologicals Limited and Central Institute of Brackishwater Aquaculture Collaborate to Create
Commercial Fish Vaccine
• Indian Immunologicals Limited (IIL) and the Central Institute of Brackishwater Aquaculture (CIBA)
have partnered to develop a commercial vaccine targeting Viral Nervous Necrosis (VNN) in
finfish.
• VNN is a disease that causes high mortality rates in young fish and can be transmitted from
adults to offspring.
• India's Fish Production:India is the third-largest fish producer globally.
• Over 65% of India's fish production comes from inland fisheries and aquaculture.
About IIL:
• IIL was established by the National Dairy Development Board in 1982 and entered the aqua
business in 2022.
• IIL has launched products for pond and gut management and has announced partnerships with
ICAR institutes to develop fish vaccines.
• IIL’s Managing Director, K Anand Kumar, stated that IIL is the first company in India to develop
fish vaccines and is working on solutions for various fish species and culture conditions.
SpaceX Mission Sends All-Civilian Crew on Historic First Private Spacewalk in Orbit
• SpaceX launched its daring Polaris Dawn mission, a multiday orbital expedition carrying a four-
member civilian crew for the first spacewalk by non-professional astronauts.
• The Polaris Dawn crew consists of four members: Anna Menon, Scott Poteet, Jared Isaacman,
and Sarah Gillis.
• The launch took place from Launch Complex-39A at NASA's Kennedy Space Center (KSC).
About SpaceX :
• Founded : March 14, 2002

• Headquarters : United States
• CEO : Elon Musk
United States Government Collaborates with IIT Madras Research Park on Solar and Green Hydrogen
Initiatives
• The United States (US) government and IIT Madras Research Park are set to announce a
partnership focusing on four key areas: solar, green hydrogen, electric vehicles and batteries,
and green buildings.
• The goal is to bring together researchers, academia, and industry from both the US and India to
create a collaborative ecosystem in these four areas.
• Working groups will be established under each of the four focus areas, consisting of members
from the US government and IIT Madras Research Park.
India successfully conducts back-to-back test firings of surface-to-air missiles over two days: DRDO
• India successfully test-fired the Vertical Launch Short Range Surface to Air Missile (VLSRSAM)
on two consecutive days, September 12 and 13, 2024, from the Integrated Test Range (ITR) at
Chandipur, Odisha.
• The tests were conducted by the Defence Research and Development Organisation (DRDO) in
collaboration with the Indian Navy.
• The tests mark a critical achievement in India’s defence capabilities.
European-Japanese Spacecraft Captures Closest Images of Mercury's Surface at Sunrise

• BepiColombo is a joint mission between the European Space Agency (ESA) and the Japan
Aerospace Exploration Agency (JAXA) aimed at studying Mercury.
• BepiColombo made its closest approach to Mercury, capturing detailed black-and-white images
of the planet’s surface.
• Significant Findings:The spacecraft provided the first clear images of Mercury's south pole and
detailed views of its craters, including those with unusual peak rings.
SpaceX Launches Polaris Dawn Mission: Civilian Crew Embarks on First-Ever Spacewalk by Non-
Professional Astronauts
• SpaceX launched its daring Polaris Dawn mission, a multiday orbital expedition carrying a four-
member civilian crew for the first spacewalk by non-professional astronauts.
• The mission will involve orbiting through the Van Allen Belts.
• The Allen Belt discovered in the 1950s is Located beyond low-Earth orbit, these radiation belts
were discovered in 1958 by astrophysicist James Van Allen who helped uncover the key to
enabling exploration of the outer solar system.
About SpaceX :
• Founded : March 14, 2002
• Headquarters : Texas, United States
• CEO : Elon Musk
Iran Successfully Launches Chamran-1 Research Satellite into Orbit Using Revolutionary Guard's
Qaem-100 Rocket
● Iran launched the Chamran-1 research satellite into orbit using the Qaem-100 rocket, developed
by the paramilitary Revolutionary Guard.
● The event marks a key advancement in Iran's aerospace program, despite scrutiny from Western
nations due to concerns about ballistic missile development.
● Satellite Details:Chamran-1 weighs 60 kilograms and was placed into a 550-kilometer orbit.
● Rocket Specifications:The Qaem-100 rocket is a solid-fuel, three-stage vehicle and had been
previously used for a satellite launch in January.
● Mission Objective:The primary mission of Chamran-1 is to test hardware and software systems
for orbital maneuver technology validation.
About Iran :
● President : Masoud Pezeshkian
● Capital : Tehran
● Currency : Iranian rial
Newly Discovered Asteroid 2024 PT5 to Temporarily Orbit Earth from September 29 to November 25,
2024
● Newly discovered asteroid named 2024 PT5 will temporarily be captured by Earth's gravity and
orbit the planet from September 29 to November 25, 2024.
● After this, it will return to a heliocentric orbit (orbit around the sun).
● Origin of Asteroid 2024 PT5:The asteroid originated from the Arjuna asteroid belt, which consists
of small asteroids with orbits similar to Earth's orbit around the sun.
● Discovery & Observations:Astronomers first spotted the asteroid on August 7, 2024 using the
NASA-funded ATLAS observatory in South Africa.
● The asteroid is estimated to be about 37 feet (11 metres) in diameter, but its size could range
from 16 to 138 feet (5 to 42 metres).
● Long-capture mini-moon events are rare, occurring every 10 to 20 years.
● Asteroid Speed and Proximity:Mini-moons like 2024 PT5 approach Earth within 2.8 million miles
(4.5 million kilometers) at speeds under 2,237 miles per hour (3,600 kilometers per hour).
Airtel collaborates with Italy's Sparkle for Blue-Raman subsea cable project
● Strengthening its global connectivity infrastructure, Bharti Airtel has partnered with Italy’s
international service provider Sparkle to access capacity on Blue-Raman Submarine Cable
Systems connecting India and Italy.
● The two companies will also work together on the development of new business opportunities
and projects in the Indian sub-continent, leveraging their respective cable infrastructures.
● Sparkle is a major player in the telecommunication cable industry, which owns and manages a
network of more than 600,000 km of fibre spanning from Europe to Africa and the Middle East,
the Americas and Asia.
● The 2Africa is among the longest subsea cable systems in the world, spanning over 45,000 km.
● It will have a capacity of 180 terabits per second (tbps), connecting 33 countries, including Sunil
Mittal-led Airtel’s landing station in Mumbai.
Bengaluru Startup Bellatrix Aerospace Launches Project 200: A New Satellite for Ultra-Low Earth Orbit
Operations at Bengaluru Space Expo 2024
● Bengaluru-based space startup Bellatrix Aerospace unveiled Project 200, an innovative satellite
designed to operate at an Ultra-Low Earth Orbit (180 km-250 km) on the inaugural day of the
Bengaluru Space Expo 2024.
About Project 200 :
● “Project 200 is a technology demonstration mission to qualify a new unconventional satellite
powered by an innovative propulsion system at around 200 km.
● Traditionally, satellites have been deployed in orbits at altitudes well above 450 km.
About Bellatrix Aerospace :
● Founded : 2015
● Headquarters : Bangalore, Karnataka, India
● Founders : Rohan M Ganapathy, Yashas Karanam
Airtel Introduces India's First AI-Driven Spam Detection Solution Based on Network Technology
● Bharti Airtel introduced India's first network-based, Artificial Intelligence (AI)-powered spam
detection solution to combat spam calls and messages.
● This is a first-of-its-kind solution among telecom service providers in India, providing real-time
alerts to customers about suspected spam calls and SMS messages.
About Bharti Airtel :
● Founded : 7 July 1995
● Chairman : Sunil Mittal
● MD & CEO : Gopal Vittal
India Set to Launch Its First Venus Mission in 2028
● The Union Cabinet approved India's first mission to Venus, set to be launched by the Indian
Space Research Organisation (ISRO) in March 2028.
● The total budget for the Venus Orbiter Mission is ₹1,236 crore, with ₹824 crore dedicated to
spacecraft development.
● This will be India's second interplanetary mission, following the successful Mars Orbiter Mission
launched in 2013.
Characteristics of Venus:
● Venus is similar to Earth in mass, density, and size, earning the nickname "Earth’s twin."
● However, it has extreme surface temperatures of around 462°C and much higher atmospheric
pressure than Earth.
● The atmosphere of Venus consists of 96.5% carbon dioxide, with clouds of sulfuric acid.
PERSON IN NEWS
Two Women Officers from Indian Navy Set to Embark on Challenging Global Blue-Water Voyage
• Lt. Commanders A. Roopa and K. Dilna of the Indian Navy are set to embark on a blue-water
voyage around the world onboard INSV Tarini.
• The voyage is part of the Sagar Parikrama expedition, which the officers have been preparing for
over the last three years.
• Background of Officers:Lt. Commander K. Dilna hails from Kozhikode, Kerala, and was
commissioned into the Navy in June 2014.
SPORTS NEWS
Aarti Wins Bronze in Women's 10,000m Race Walk at World U20 Athletics Championships
• Aarti, a 17-year-old Indian athlete, secured a bronze medal in the Women’s 10,000m race walk
event at the World U20 Athletics Championships held in Lima, Peru.
• She clocked a time of 44 minutes 39.39 seconds, setting a new National U20 record for India and
marking the country's first medal at the championship.
• Aarti broke her own previous national record of 47 minutes 21.04 seconds, which she set earlier this
year in the National Federation Cup U20 Championships in Lucknow.
Indian Shooters Shine at Paris Paralympics: Avani Lekhara Defends Gold, Mona Agarwal Secures
Bronze
• Indian shooters Avani Lekhara, Mona Agarwal, and Manish Narwal made a significant impact on the
first day of shooting at the Paris Paralympics.
• Avani Lekhara became the first Indian to win back-to-back Paralympic gold medals, successfully
defending her title in the women’s 10m air rifle (SH1) event.
• Avani shot an impressive 249.7, breaking her own previous Paralympic record of 249.6, set during
the Tokyo Games three years ago.
Rubina Francis Secures Bronze in Women's 10m Air Pistol at Paris Paralympics
o Rubina Francis, a 25-year-old shooter from Jabalpur, Madhya Pradesh, won a bronze medal in
the women's 10m air pistol SH1 event at the Paris Paralympics.
o Rubina scored an aggregate of 211.1 to finish third in the eight-woman final.
o She was behind Sareh Javanmardi of Iran (gold with 236.8 points) and Aysel Ozgan of Turkey
(silver with 231.1 points).

Charles Leclerc Triumphs at Italian Grand Prix; Lando Norris Cuts Verstappen’s Championship Lead
o Charles Leclerc secured victory at the Italian Grand Prix on September 1, 2024, delighting the
massive Ferrari fanbase. This win marks Leclerc’s second victory at Monza, having previously
won in 2019.
o Leclerc led the race from the 16th lap, maintaining his position after a single pit stop.
o He held McLaren’s Oscar Piastri and Lando Norris off, with Piastri finishing second and Norris in
third.
India Achieves Record Medal Haul at the Paralympics
• India has achieved its best-ever medal tally at the Paralympics, surpassing its previous record
from the Tokyo Paralympics.
• Medal Count: India's medal tally stands at 21 medals: three gold, eight silver, and 10 bronze.
This surpasses the previous best of 19 medals achieved in Tokyo.
• Track and Field Success: India’s track and field athletes have delivered outstanding
performances, contributing significantly to the medal count with five medals on Day Six: two silver
and three bronze.
Yogesh Kathuniya Wins Silver at Paris Paralympics 2024

o Indian para-athlete Yogesh Kathuniya secured a silver medal in the men's discus throw F56
event at the Paris Paralympics 2024.

o This marks his second consecutive Paralympic silver medal.
o Kathuniya, a 27-year-old from Haryana, achieved a throw of 42.22m in his first attempt, securing
the second position.
o His subsequent throws were 41.50m, 41.55m, 40.33m, 40.89m, and 39.68m.
o Claudiney Batista dos Santos of Brazil won the gold with a Paralympic record throw of 46.86m.
India's Impressive Performance at Paris Paralympics 2024

• India's para-athletes have made the nation proud at the Paris Paralympics 2024, securing a total
of 15 medals: 3 gold, 5 silver, and 7 bronze.
• This remarkable achievement highlights India's growing strength in para-sports on the global
stage.
Key Highlights
• Sumit Antil's Historic Achievement:
• Event: Men's Javelin Throw - F64
• Medal: Gold
BCCI Appoints Ajay Ratra as New Selector for Men's Cricket Team
• The Board of Control for Cricket in India (BCCI) has appointed Ajay Ratra, a former India
wicketkeeper, as a selector for the men's cricket team.
• Ratra replaces Salil Ankola in the five-member selection panel.
• Zone Representation:
o As per the convention, each of the five selectors represents a different zone. Ratra will
represent the North Zone in the committee, which is headed by Ajit Agarkar.
India's Achievements at the 2nd World Deaf Shooting Championship
o Dhanush Srikanth and Mahit Sandhu secured the gold medal in the mixed air rifle event at
the 2nd World Deaf Shooting Championship in Hannover, Germany.
o The duo defeated fellow Indian competitors Mohammed Vania and Natasha Joshi with a
score of 17-5 in the final.
o Dhanush Srikanth and Mahit Sandhu set a world record in the qualification round with a
score of 628.8, showcasing their exceptional shooting skills.
Dharambir and Pranav Soorma Shine in Men's F51 Club Throw at Paralympics
• Gold Medal:
o Dharambir:
▪ Performance: Won gold with a throw of 34.92m in his fifth attempt.
• Silver Medal:
o Pranav Soorma:
▪ Performance: Secured silver with a throw of 34.59m in his first attempt.
• Bronze Medal:
o Filip Graovac (Serbia):
▪ Performance: Achieved bronze with a throw of 34.18m in his second attempt.
Sharath Kamal Appointed ITTF Foundation Ambassador

• On the 11th day of the Ultimate Table Tennis (UTT) season five at the Jawaharlal Nehru Indoor
Stadium, Sharath Kamal, India’s top table tennis player, was named the first Indian ambassador
of the International Table Tennis Federation (ITTF) Foundation.
• Her Highness Zeina Shaban: Princess of Jordan and two-time Olympian
Brendon McCullum to Lead England Across All Formats from 2024

• Brendon McCullum, currently the coach of England’s Test cricket team since 2022, will also take
charge of the one-day international (ODI) and Twenty20 (T20) teams starting from 2024.
• This decision is part of a revised leadership structure within the England and Wales Cricket
Board (ECB).
Suhas Yathiraj Shines with Silver in Para-Badminton at Paris 2024 Paralympics

o Suhas Lalinakere Yathiraj, a prominent Indian para-badminton star, secured the silver
medal in the men’s singles SL4 category at the Paris 2024 Paralympics.
o The match was held at the Stade Pierre de Coubertin, where Suhas faced world champion
Lucas Mazur.
o Despite a hard-fought battle, Suhas finished with a silver medal.
Dhanush Srikanth Shines at World Deaf Shooting Championship

• Dhanush Srikanth won three gold medals for India at the World Deaf Shooting Championship in
Hanover, Germany.
• World Record: He broke the world record in the men's 10m air rifle event qualification with a
score of 632.7, outperforming fellow Indians Shourya Saini (625) and Mohammed Vania (622.7)
in the finals.
Rajasthan Royals Appoints Rahul Dravid as Head Coach
• The Rajasthan Royals, owned by Royals Sports Group, has announced the appointment of
Rahul Dravid as their new Head Coach on a multi-year contract.
• Previous Involvement:
• Rahul Dravid, who previously served as captain and coach for the Royals from 2011 to 2015, will
now return in a new role.
• Dravid initially began his coaching career with the Royals in 2014, transitioning from captain to
mentor.
Indian Athletes Harvinder Singh and Preethi Pal to Lead as Flag-Bearers at Paris 2024 Paralympics
Closing Ceremony
• India will be represented by archer Harvinder Singh and sprinter Preethi Pal as the flag-bearers
at the closing ceremony of the Paris 2024 Paralympics, scheduled.
• At 33, Harvinder Singh made history by becoming the first Indian archer to win a gold medal at
the Paralympics. He secured this win by defeating Poland’s Lukasz Ciszek 6-0 in the men’s
individual recurve final.
• At just 23, Preethi Pal achieved bronze medals in the women’s 100m and 200m races in the T35
category at Paris 2024. She is the first Indian athlete to win a track medal at the Paralympics.
England all-rounder Moeen Ali retires from international cricket
• Moeen Ali, at 37 years old, decided to retire from international cricket after recognizing that he
was no longer in consideration for England's future assignments.
• He felt it was time for the next generation to take over and acknowledged the team's need to
rebuild ahead of upcoming tournaments like the ICC Champions Trophy 2025 and the ICC Men's
T20 World Cup 2026.
• International Debut: Moeen Ali made his international debut in 2014 against the West Indies.
India Sets New Records at South Asian Junior Athletics Meet
• Siddharth Choudhary set a new meet record in the men’s shot put event.
• Pooja established a new record in the women’s high jump with a jump of 1.80m, surpassing the
previous record of 1.75m.
• Abinaya Rajarajan won gold in the women’s 100m with a record-breaking time of 11.77 seconds.
• Pooja attempted to better her National U-20 high jump record of 1.83m, set at the 2024 World U-
20 meet in Peru, but did not clear 1.84m.
ICC Men's Cricket World Cup 2023 Delivers $1.39 Billion Economic Impact to India
• The ICC Men's Cricket World Cup 2023 generated a substantial $1.39 billion economic impact
for India.
• International visitors contributed $861.4 million in revenue through accommodation, travel,
transportation, and food and beverage.
• The tournament attracted 1.25 million spectators, with nearly 75% attending a 50-over match for
the first time.
• Secondary and incremental spending by international fans amounted to $515.7 million, with
$281.2 million spent on tourism.
Paris Paralympics 2024 takeaways: India’s historic run of 29 medals
Medal Haul and Key Takeaways
• India achieved its best-ever performance at the Paralympics, winning a total of 29 medals (7
gold, 9 silver, and 13 bronze).
• The tally of 29 medals and 7 gold medals set new records for India, surpassing the previous best
of 19 medals and 5 golds from the Tokyo 2020 Paralympics.
• India finished 18th on the medal table, an improvement from 24th place in Tokyo.
• Indian women athletes made significant contributions, winning 11 medals (including one in mixed
team events). This marked a substantial increase compared to previous Games.
Goa Challengers defends UTT title in styleHistoric Moment in Ultimate Table Tennis
• Date and Venue: The final took place on September 7, 2024, at the Jawaharlal Nehru Indoor
Stadium.
• It was the first time in the league's history that a team was set to become a two-time champion,
regardless of the final's outcome.
• Outcome: Goa Challengers defended their title with an emphatic 8-2 win over Dabang Delhi TTC
Jannik Sinner beats Taylor Fritz to win U.S. Open

• Jannik Sinner (Italy) defeated American Taylor Fritz to win U.S Open
• Jannik Sinner becomes the first Italian man to win the U.S. Open and claims his second Grand
Slam title after winning the Australian Open earlier this year.
• Sinner delivered a powerful display from the baseline, controlling the match with his aggressive
style.
Velavan Senthilkumar Wins ACE Challenger Tour 2024
o Velavan Senthilkumar, a top-seeded Indian squash player, won the ACE Challenger Tour 2024.
o He defeated Noor Zaman of Pakistan with scores of 11-5, 11-6, 11-9 in the final.
o Senthilkumar showcased his form by reaching the semi-finals of the recent Tuanku Muhriz Squash
Trophy.
Indian Team Tops Medal Tally at World Deaf Shooting Championships

• India won a total of 21 medals at the second World Deaf Shooting Championships held in Hanover,
Germany.
• The medal tally included 7 gold, 7 silver, and 7 bronze medals.
• India topped the medal tally.
• Ukraine secured second place with 7 gold, 5 silver, and 6 bronze.
Tayyab Ikram Set to be Elected Unopposed as FIH President
• Tayyab Ikram is set to be elected unopposed as the President of the International Hockey
Federation (FIH) at its 49th Congress in Muscat, Oman, on November 9.
• The nominations for FIH elections were submitted by the August 31 deadline.
• Ikram is the sole candidate for the president’s post, representing Hong Kong Macau.
• There is no Indian candidate in the FIH election race.
US Open 2024 Highlights:
• The 2024 US Open, held from August 19 to September 8 at Flushing Meadows, Queens, New York
City, concluded with historic wins in both the men’s and women’s singles categories.
• Italian Jannik Sinner and Belarusian Aryna Sabalenka each claimed their first US Open title, marking
significant milestones in their careers.
Neeraj Chopra Concludes 2024 Season with Second-Place Finish at Diamond League Final
• Neeraj Chopra, India's Olympic gold medalist in javelin, finished the 2024 season with a second-
place result at the Diamond League final in Brussels.
• Grenada's Anderson Peters, a Paris 2024 Olympics bronze medallist, won his first Diamond
League title with an effort of 87.87 m. The 2023 European Games champion Julian Weber of
Germany was third with a distance of 85.97 m.
• Despite winning the Paavo Nurmi Games in Finland earlier in the season, Chopra faced
struggles at key events, including the Paris Olympics.
Detailed Overview of the 21st HCL International Bridge Championship
• The 21st HCL International Bridge Championship recently concluded in Delhi with a series of
highly competitive events, showcasing exceptional skill and strategy in the game of bridge.
• The championship featured multiple categories, including the Mixed IMP Pairs event, where
players competed for top honours and significant prizes.
• Mixed IMP Pairs Event
• Winning Pair: Arun Jain & Gopika Tandon
• Runners-up: Alka Kshirsagar & Joyrup Mullick
• Third Place: Marianne Karmarkar & Sandeep Karmarkar
• Mixed IMP Pairs Silver
• Winners: T.V. Ramani & Bindiya Kohli
Runners-up: Dagmar Neumann & Maurits van der Vlugt
• Third Place: Timur Edis & Elvan Edis
Top Seed Ajay Malik Triumphs in AITA Men's Tennis Tournament

• The Rs. 100,000 AITA Men's Tennis Tournament, held at the Ace Academy, concluded with top
seed Ajay Malik clinching the championship title.
• The tournament showcased competitive matches and high-level tennis.
• Champion: Ajay Malik
Opponent: Vansh Nandal (8th Seed)
Harmanpreet Singh and PR Sreejesh were Nominated for the FIH Hockey Stars Awards
• India's hockey captain Harmanpreet Singh and veteran goalkeeper PR Sreejesh have been
shortlisted for the prestigious FIH Hockey Stars Awards following their outstanding performances at
the Paris Olympics.
• The nominations were announced by the International Hockey Federation (FIH).
Player of the Year Award - Nominees:
• Men's Category:
o Harmanpreet Singh (India)
o Thierry Brinkman (Netherlands)
o Joep de Mol (Netherlands)
o Hannes Müller (Germany)
o Zach Wallace (England)
Goalkeeper of the Year Award - Nominees:
• Men's Category:
o PR Sreejesh (India)
o Pirmin Blaak (Netherlands)
o Luis Calzado (Spain)
o Jean-Paul Danneberg (Germany)
o Tomas Santiago (Argentina)
India Clinches 5th Asian Champions Trophy Title with Narrow Win Over China
• India won their fifth Asian Champions Trophy title with a hard-fought 1-0 victory over China.
• The decisive goal was scored by Jugraj Singh in the 51st minute, assisted by Harmanpreet Singh.
• Despite China's resilient defence, India managed to secure the win and retain their crown.
Punjab Kings Appoint Ricky Ponting as New Head Coach

• Ricky Ponting has been named the Head Coach of Punjab Kings for the 2025 season and
beyond.
• Ponting's Coaching Experience:
o Coached Mumbai Indians and Delhi Capitals in the IPL, leading them to one championship and
four playoff appearances.
o Guided Washington Freedom to a title in the 2024 MLC season.

Saleema Imtiaz: First Pakistani Woman Nominated to ICC International Panel of Development Umpires
● Saleema Imtiaz has made history by becoming the first Pakistani woman to be nominated to the
ICC International Panel of Development Umpires, as announced by the Pakistan Cricket Board
(PCB).
● Umpiring Background: Saleema began her career with the PCB women's panel in 2008.
● Notable Matches: She officiated in the 2022 Asia Cup and the 2023 ACC Emerging Women’s
Cup in Hong Kong.
● Experience: She has officiated in 22 T20Is, including 16 on-field and 6 as a TV umpire. Her most
recent match as an on-field umpire was the Women’s Asia Cup Final in Dambulla.
About the ICC
● The International Cricket Council (ICC) is the global governing body for cricket, headquartered in
Dubai, UAE, with 108 member nations (12 Full Members and 96 Associate Members).
● Current Chairman: Greg Barcley (New Zealand)
● Upcoming Chairman: Jay Shah (effective December 1, 2024)
● For the 2024-25 panel, Indian umpires Narayanan Janani and Vrinda Rathi have also been
included.
India Wins First Gold Medal in Women’s Section at 2024 Chess Olympiad
● India achieved a historic victory by securing its first-ever gold medal in the women's section of the
2024 Chess Olympiad, held at the SYMA Sports and Conference Centre in Budapest, Hungary.
● Final Round Victory: In the decisive final round, Divya Deshmukh, Vantika Agrawal, and Harika
Dronavalli won their matches, while R. Vaishali contributed with a draw.
● Support from the USA: India's triumph was bolstered by the USA's 2-2 draw against title-chasing
Kazakhstan, preventing them from overtaking India.
● Medal Standings: Kazakhstan finished with the silver medal, and the USA took home the bronze.
● The Indian men's team also celebrated a first-ever gold medal at the 45th Olympiad, marking a
double success for Indian chess.
● India retained the Gaprindashvili Trophy, awarded to the team with the best overall performance
across both open and women's sections.
● Prior to this gold medal, India's best result in the women's section was a bronze medal at the 2022
Olympiad in Mahabalipuram.
Alcaraz Secures Laver Cup Victory for Team Europe
● Four-time Grand Slam champion Carlos Alcaraz overcame Taylor Fritz 6-2, 7-5 as Team Europe
rallied to beat Team World 13-11 and win the Laver Cup.
● Alcaraz broke the U.S. Open runner-up Fritz in the 11th game and then closed out victory on serve,
sparking celebrations as the Europe team rejoiced with captain Bjrn Borg in Berlin.
● Event: Laver Cup 2024
● Date: September 23, 2024
● Location: Berlin
Match Summary:
● Final Score: Team Europe 13, Team World 11
● Decisive Match:
o Player: Carlos Alcaraz (Europe)
o Opponent: Taylor Fritz (World)
o Score: 6-2, 7-5
Pratyasa Ray Wins 32nd Ekalabya Puraskar for 2024 for Swimming Achievements
● Pratyasa Ray, an emerging swimming talent from Odisha, has been selected for the prestigious
32nd Ekalabya Puraskar 2024 for her outstanding achievements in swimming.
● Achievements:
o 2024: Joint-Best Swimmer in Women’s Open category, winning 6 Gold medals at the 64th
Odisha State Swimming Championship.
o 2023: Won 6 Gold medals at the 63rd Odisha State Swimming Championship.
o Pratyasa Ray will receive a cash prize of Rs 7 lakh (up from the previous Rs 5 lakh) along
with a citation during the award ceremony.
● Ekalabya Puraskar:
o Instituted by Indian Metals Public Charitable Trust (IMPaCT) in 1993, this award is managed
by IMFA, a leading ferro alloys producer in India.
o The award is considered Odisha’s most prestigious sports award and is given annually to
young sportspersons for their achievements over the previous two years.
Indian Duo Wins Men's Doubles Title at 2024 Hangzhou Open
● Jeevan Nedunchezhiyan and Vijay Sundar Prashanth clinched the men’s doubles title at the 2024
Hangzhou Open.
● They triumphed over Germany’s Constantin Frantzen and Hendrik Jebens with a final score of 4-6,
7(7)-6(5), 10-7.
1. Individual Achievements:
o This victory marks Jeevan's second ATP title, his first being at the 2017 Chennai Open
with Rohan Bopanna.
o Vijay celebrated his first ATP title.
Shakib Al Hasan Announces Retirement from T20I and Future Plans in Cricket
● Former Bangladesh 37-year-old skipper and all-rounder Shakib Al Hasan has officially retired from
T20I cricket after featuring in 129 matches.
● In addition, he has expressed his desire to retire from Test cricket following the home series against
South Africa next month in Mirpur.
Lay’s Becomes Official Sponsor of FIFA World Cup 2026 and FIFA Women’s World Cup 2027
● Lay’s has become the official sponsor for both the FIFA World Cup 2026 and the FIFA Women’s
World Cup 2027.
● This marks a significant global expansion of Frito-Lay’s successful involvement as a regional
supporter during the FIFA World Cup Qatar 2022 and as a tournament supporter for the FIFA
Women’s World Cup 2023.
BOOKS AND AUTHORS

ISRO Chairman Launches Coffee-Table Book on India's Space Journey
• S. Somanath, Chairman of the Indian Space Research Organisation (ISRO), unveiled a coffee-
table book titled “ISRO: Exploring New Frontiers – To The Moon, The Sun & Beyond” published
by The Hindu Group of Publications.
• Key Highlights:
• Book Title: “ISRO: Exploring New Frontiers – To The Moon, The Sun & Beyond”
• Curator: T.S. Subramanian, former associate of Frontline magazine
About ISRO (Indian Space Research Organisation):
• Role: India’s National Space Agency under the Department of Space, Government of India.
• Headquarters: Bengaluru, Karnataka.
• Vision: To utilize space technology for national development, conduct space science research,
and explore other planets.
New Book Titled : “From Oil to Lithium: Navigating the Future of Energy” by Kuldeep Gupta has been
released
• In a world increasingly focused on sustainable energy solutions, Kuldeep Gupta’s new book,
“From Oil to Lithium: Navigating the Future of Energy”, stands out as a transformative read.
• This compelling work combines personal narrative with a critical examination of global energy
challenges.
OBITUARIES
New Zealand’s Māori King Kiingi Tuheitia Passed away
• New Zealand’s Māori King, Kiingi Tuheitia Pootatau Te Wherowhero VII, passed away at the age
of 69.
• His death occurred shortly after celebrating his 18th year on the throne.
• Born Tuheitia Paki in 1955 in Huntly, North Island, New Zealand.
• He was crowned as Māori King on August 21, 2006, following the death of his mother, Te Arikinui
Dame Te Atairangikaahu.
James Earl Jones, Iconic Darth Vader Voice and Legendary Actor Passed Away
• James Earl Jones, the legendary American actor who appeared in films like Star Wars, Field of
Dreams, and The Lion King, passed away at the age of 93.
• James Earl Jones was born in Arkabutla, Mississippi, United States (US) on January 17, 1931.
Leading Lebanese novelist Elias Khoury Passed away
• Lebanese novelist Elias Khoury who dedicated much of his writings to the Palestinian cause and
taught at universities around the world, making him one of Lebanon's most prominent
intellectuals, has passed away at the age of 76.
• Elias Khoury was born and raised in Beirut on July 12, 1948.
• He was a Greek Orthodox Christian and had significant involvement in Lebanon's civil war (1975-
1990), where he was wounded in battle.
Renowned poet and ex-intelligence officer Keki N. Daruwalla Passed away
● Renowned poet and former IPS officer Keki N Daruwalla, an inspiration to countless young
writers and poets who looked at him as a mentor,passed away at the age of 87.
● He was awarded the Sahitya Akademi Award, in 1984 for his poetry collection, The Keeper of the
Dead, by the Sahitya Akademi, India's National Academy of Letters.
● He was awarded Padma Shri, the fourth highest civilian award in India, in 2014.

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Important Monthly Current Affairs Capsule – September 2024

6. BANKING AND ECONOMY 74

7. AWARDS AND HONOURS 138

8. APPOINTMENTS & RESIGNATIONS 141

9. MOUS AND AGREEMENT 158

10. RANKING AND INDEXES 165

11. ACQUISITIONS & MERGERS 171

12. DEFENCE NEWS 174

13. SCIENCE & TECHNOLOGY 183

14. SPORTS NEWS 193

15. BOOKS AND AUTHORS 203

16. OBITUARIES 204

International Day of Police Cooperation: September 7

World Duchenne Muscular Dystrophy Day: 7th September

World Physical Therapy Day 2024: September 8

World Literacy Day 2024: September 8

Engineers Day in India 2024: September 15

• Every year 15th September is celebrated as National Engineers Day in India.

World Patient Safety Day 2024: September 17

International Day of Peace 2024: September 21

● In 2009, at Turkey’s Istanbul, The International Pharmaceutical Federation Council announced

Government Poised to Approve Third Phase of FAME Scheme

NPS Vatsalya Scheme: A New Financial Initiative for Minors

Key Differences Between ICAI and NFRA on ISA 600 Adoption

technologies to streamline various operations.

Union Cabinet Approves Semiconductor Unit in Sanand, Gujarat

Nitin Gadkari Urges GST Reduction on Flex-Fuel Vehicles

Cabinet Committee on Economic Affairs Approves Major Railway Projects

Union Cabinet Approves Expansion of Agriculture Infrastructure Fund Scheme

Producer Organization (FPO) Conclave on September 3-4, 2024, in Hyderabad, Telangana.

Rural Development Ministry Approves Road Construction Projects in Three States

Government to Launch Farmers' Registration for Unique ID:

PM Modi to Inaugurate Global RE-INVEST 2024 in Gujarat:

India’s Pioneering Fashion Forecasting Initiative VisioNxt Launched by Textile Ministry

Draft Proposal for the Green Hydrogen Certification Scheme of India

India’s Achievement in Financial Action Task Force (FATF) Mutual Evaluation

PM Modi's Government Approves ₹3 Lakh Crore Infrastructure Projects in 100 Days

Spices Board launch ‘CardsApp’ to boost cardamom production

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

ICAR-Central Institute of Fisheries Technology Designated as a Fisheries Incubation Centre

Enhanced Credit Guarantee for Women-Owned MSMEs Under CGTMSE Scheme

Union Cabinet Approves One Nation One Election Proposal

Union Cabinet Approves Chandrayaan-4 and Venus Orbiter Mission (VOM)

o Versova-Dahisar and Mira Bhayander-Dahisar Link Road

World Health Organization Designates Monkeypox a Global Public Health Emergency

• President of the Commission : Ursula von der Leyen

Jordan becomes first country to eliminate leprosy, receives WHO verification

● President : Joe Biden

• Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) is undertaking a

Centre Sanctions 8 Lakh Pradhan Mantri Awas Yojana Houses in Chhattisgarh

Uttar Pradesh Government to Construct 3D Vedic Museum in Varanasi

India's 1st Silicon Carbide manufacturing facility to be set up in Odisha

● National Park : Dudhwa National Park

Zanskar Hosts 9th Edition of Ladakh Zanskar Festival 2024

Gujarat wins most awards at renewable energy meet

Revised Wage Details:

1,279.56 points (1.57%) last week.