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CURRENT AFFAIRS : BANKING & FINANCE

Finance Minister Nirmala Sitharaman Requests Reserve Bank of India Assistance to Settle Regional Rural Banks Dues with States

• Finance Minister (FM) Nirmala Sitharaman sought the Reserve Bank of India’s (RBI’s) intervention for clearing the pending dues of Regional Rural Banks (RRBs) with state governments.
• During a review meeting on the performance of 9 RRBs from Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, and Rajasthan, held in Udaipur, Sitharaman directed RRBs to leverage their healthy Current Account Savings Account (CASA) ratio to provide more credit.
• The FM also directed RRBs to become more customer-friendly and use their local connections to further improve performance.

Key Highlights :

• Role of Sponsor Banks: Sponsor banks are expected to provide technical assistance, share best practices, and ensure that RRBs have the necessary resources.
• Challenges Ahead: RRBs must focus on maintaining asset quality, expanding digital services, and ensuring strong corporate governance.
• Capital Adequacy and Profitability:
• CRAR: The Consolidated Capital to Risk (Weighted) Assets Ratio (CRAR) of RRBs increased from 7.8% in FY2021 to 13.7% in FY2024.
• Profitability: RRBs moved from a loss of ₹41 crore in FY2021 to a net profit of ₹2,018 crore in FY2024.
• GNPA: The Gross Non-Performing Assets (GNPA) ratio is relatively low at 3.9%.
• PM Surya Ghar Muft Bijli Yojana: Sitharaman highlighted the potential of this scheme in Gujarat and Rajasthan and encouraged RRBs to raise awareness and provide credit under it.
• PM Vishwakarma Scheme: RRBs were directed to identify potential trades for credit under this scheme in their areas of operation.
• MUDRA Scheme Performance: The lower offtake of the MUDRA scheme in the Bundelkhand region was noted, and the State Level Bankers’ Committee (SLBC) was directed to conduct meetings with state officials, sponsor banks, and RRBs to improve its performance.
• Financial Inclusion: Emphasis was placed on improving financial inclusion schemes in Bundelkhand and other aspirational districts.

Reserve Bank of India Levies Financial Penalty on NDX P2P Private Limited ('LiquiLoans') & Innofin Solutions Private Limited (“LenDen Club”)

• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,92,00,000 on NDX P2P Private Limited, also known as 'LiquiLoans'.
• Reason for Penalty: The penalty was imposed for non-compliance with the provisions of the 'Non-Banking Financial Company - Peer to Peer Lending Platform (Reserve Bank) Directions, 2017' and the "Guidelines on Digital Lending" issued by the RBI.
• Legal Basis: The penalty was imposed under the powers conferred by clause (b) of sub-section (1) of section 58G, read with clause (aa) of sub-section (5) of section 58B of the Reserve Bank of India Act, 1934.
• Regulatory Compliance: The action was taken due to deficiencies in the company's regulatory compliance.
• No Impact on Transactions: The penalty does not affect the validity of any transactions or agreements between the company and its customers.
• Further Actions: The imposition of the penalty is without prejudice to any other actions that may be initiated by the RBI against the company.
• The RBI also imposed a penalty of ₹1,99,50,000 on Innofin Solutions Private Limited, also known as 'LenDen Club'.

Tata AIA Life Introduces 'Sampoorna Raksha Promise' Product with ₹3 Lakh Immediate Payout Feature  

• Tata AIA Life Insurance has unveiled its latest term insurance product, Sampoorna Raksha Promise.
• This product is designed to enhance financial security.

Key Features:

• Instant payout: The plan provides an immediate payout of ₹3 lakh upon death claim intimation to cover urgent expenses.
• Premium deferral: Policyholders can defer their premium payments for up to 12 months once every five years.
• Terminal illness benefit: Upon diagnosis of a terminal illness, 50% of the base sum assured is paid out.
• Future premiums are waived, and policy benefits continue.
• Plan options:Life promise: Provides coverage up to age 100 with a specified sum assured payable upon the policyholder's death.
• Life promise plus: Similar to Life Promise, but includes a refund of 100% of the total premium paid if the policyholder survives to maturity, excluding modal premiums and discounts.
• Flexi pay benefit: Enables deferral of premium payments for up to 12 months without additional cost while maintaining full coverage.
• Women’s discount: 15% lower premium for women compared to men.
• The plan includes access to Personal Medical Case Management (PMCM) services from Medix, offering second opinions and expert medical care.

About Tata AIA Life Insurance :

• Founded : 1 April 2001
• Headquarters : Mumbai, Maharashtra
• MD & CEO : Venkatachalam Iyer

CURRENT AFFAIRS: NATIONAL NEWS

Union Cabinet Approves BioE3 Policy to Boost Biomanufacturing in India

• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the proposal ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High-Performance Biomanufacturing’ of the Department of Biotechnology.

Key Highlights:

1. Policy Approval:
   • Body Involved: Union Cabinet chaired by Prime Minister Narendra Modi.
   • Policy Name: BioE3 (Biotechnology for Economy, Environment, and Employment) Policy.
   • Objective: To foster high-performance biomanufacturing in India, promoting innovation, sustainability, and job creation.
2. Core Features:
   • Innovation and R&D: The policy supports research and development (R&D) and entrepreneurship across various thematic sectors.
   • Biomanufacturing & Bio-AI Hubs: Establishment of Biomanufacturing and Bio-AI hubs and Biofoundries to accelerate technology development and commercialization.
   • Regenerative Bioeconomy: Focus on models of green growth and circular bioeconomy to support a sustainable future.
3. Strategic Focus Areas:
   • High-Value Bio-Based Products: Development of bio-based chemicals, biopolymers, enzymes, smart proteins, and functional foods.
   • Precision Biotherapeutics: Focus on innovative biotherapeutic solutions.
   • Climate Resilient Agriculture: Promote agriculture practices that withstand climate challenges.
   • Carbon Capture: Techniques for capturing and utilizing carbon.
   • Marine and Space Research: Encourage research in marine and space biotechnology.

PM Modi's Visit to Maharashtra and Rajasthan: Key Announcements and Events

1. Lakhpati Didi Sammelan in Jalgaon, Maharashtra:

• Event Participation: Prime Minister Narendra Modi will attend the Lakhpati Didi Sammelan in Jalgaon, Maharashtra, on 25 August 2024.
• Lakhpati Didi Scheme: The scheme, launched on 15 August 2023, aims to create three crore ‘Lakhpati Didis’—women earning at least Rs 1 lakh annually—by leveraging Women’s Self-Help Groups (SHGs).
• Achievements: Since its inception, the scheme has already empowered one crore women as Lakhpati Didis.
• Certificates Distribution: PM Modi will distribute certificates to 11 lakh newly recognized Lakhpati Didis who achieved this status during his third term, which began on 9 June 2024.
• Financial Empowerment:
  • Revolving Fund: PM Modi will release a Rs 2,500 crore revolving fund to benefit 48 lakh members of 4.3 lakh SHGs.
  • Bank Loans: He will disburse bank loans worth Rs 5,000 crore, benefiting 25.8 lakh members of 2.35 lakh SHGs.

2. Rajasthan High Court's Platinum Jubilee in Jodhpur, Rajasthan:

• Platinum Jubilee Celebrations: PM Modi will be the chief guest at the closing ceremony of the 75th anniversary of the Rajasthan High Court's foundation.
• Inauguration of the High Court Museum: PM Modi will inaugurate the newly established Rajasthan High Court Museum in Jodhpur.
• Vice President's Involvement: Vice President Jagdeep Dhankar was the chief guest at the inauguration of the Platinum Jubilee celebration earlier.

3. Lakhpati Didi Scheme Overview:

• Objectives:
  • Financial Inclusion: Provide formal banking services, including savings and loans, to women beneficiaries.
  • Financial Literacy: Promote financial awareness among women.
  • Entrepreneurship Support: Encourage income-generating activities among women.
• Eligibility:
  • Permanent residency in the state where applying.
  • Annual family income not exceeding Rs 3 lakh.
  • No government employees in the family.

Launch of National Medical Register (NMR) Portal to Enhance Digital Healthcare

• The National Medical Register (NMR) portal was launched by Union Minister for Health and Family Welfare, J.P. Nadda.
• The event occurred in the national capital, with Union Ministers of State (MoS) Anupriya Patel and Prataprao Jadhav participating virtually.
• The NMR portal is designed to be a comprehensive and dynamic database for allopathic (MBBS) registered doctors in India.

1. Vision and Features:
   • The portal aligns with Prime Minister Narendra Modi’s vision to make India digitally sound, aiming to create a "digitally sturdy" health ecosystem.
   • The NMR is linked with doctors’ Aadhaar IDs, ensuring authenticity and integrity of the data.
2. Role of State Medical Councils (SMCs):
   • Minister Nadda emphasized the crucial role of SMCs in the development, maintenance, and registration process of the NMR.
   • He urged SMCs to actively participate and expedite the registration process, noting that NMR's success depends on their authentication and speed efforts.
3. Benefits and Future Plans:
   • The NMR portal will provide dynamic, authentic, and consolidated data on doctors, enhancing transparency and quality in the medical profession.
   • Minister Patel highlighted that the NMR will address the issue of scattered and outdated data, leading to improved maintenance of authentic information.
   • Minister Jadhav emphasized that the NMR will foster trust in the healthcare system by providing verified information in a transparent manner.
4. Future Initiatives:
   • The government is also planning to launch similar registers for paramedics and other healthcare professionals to further strengthen the healthcare ecosystem.

RailTel Corporation Awarded ISO 14001:2015 Certification for Environmental Management

• RailTel Corporation of India Ltd (RailTel), a Miniratna PSU, has been awarded the ISO 14001:2015 certification.
• This certification is a globally recognised standard for Environmental Management Systems (EMS).

1. Significance of the Certification:
   • The certification underscores RailTel's commitment to environmental protection amidst global warming and climate change challenges.
   • It reflects the PSU’s dedication to adhering to environmental regulations while managing its extensive nationwide broadband telecom and multimedia network.
2. Impact and Operations:
   • RailTel operates a nationwide network that supports the growth of national telecom infrastructure, internet, and IT-enabled services.
   • The network enhances digital connectivity across the country, especially in rural areas, and contributes to the Digital India
3. Environmental Commitment:
   • The ISO 14001:2015 standard assists organizations in achieving climate neutrality.
   • RailTel’s certification highlights its efforts in reducing carbon footprints and mitigating greenhouse gas emissions.

CURRENT AFFAIRS : STATE NEWS

Chhattisgarh Government Adopts  Artificial Intelligence to Enhance School Education and Programs

• The Chhattisgarh government’s education department is using artificial intelligence (AI) to improve school education and programmes like midday meals.

Key Highlights :

• Monitoring Student Performance: AI systems are being implemented to monitor students' academic performance, providing insights for better educational outcomes.
• Sanitation and Hygiene Management: AI is used to monitor sanitation, toilet hygiene, and check manpower status in schools, ensuring a clean and healthy environment.
• Teacher Attendance: A geo-fenced attendance system is introduced to ensure teachers' presence in schools, which enhances accountability and student safety.
• Food Quality Assessment: AI-powered systems will assess meal quality by analyzing vegetable freshness, rice texture, and oil content, moving away from traditional manual inspections.
• Vidya Samiksha Kendra: The state has established the Vidya Samiksha Kendra in Raipur to implement the AI system for online monitoring and data analysis of various beneficiary-oriented schemes run by the school education department.
• Collaboration with IIT Bhilai: The Chhattisgarh government is collaborating with IIT Bhilai to develop software and mobile apps for monitoring school and student performance.
• Real-time Monitoring: The Vidya Samiksha Kendra will provide real-time details about schools and their students, enhancing the efficiency and effectiveness of educational programs.
• Information Access: With the establishment of Vidya Samiksha Kendra, information and facilities related to government schemes will be accessible to students, parents, and teachers.
• Toll-free Support: A toll-free phone number will be issued to address problems and provide support to students, parents, and teachers.

About Chhattisgarh :

• Governor : Ramen Deka
• Chief Minister : Vishnu Deo Sai
• Capital : Raipur
• Wildlife Sanctuaries : Badalkhol Wildlife Sanctuary, Barnawapara Wildlife Sanctuary, Bhairamgarh Wildlife Sanctuary

Odisha Chief Minister Mohan Majhi unveils Subhadra Scheme, providing ₹50,000 to one crore women aged 21-60 over five years

• The Bharatiya Janata Party Government led by Odisha Chief Minister Mohan Majhi, announced the implementation of the Subhadra scheme under which ₹50,000 will be provided over five years to one crore women between the ages of 21 and 60.

About the Scheme :

• Implementation Period: The scheme will be implemented from the financial year 2024-25 to 2028-29.
• Total Outlay: The total budget allocated for the scheme is ₹55,825 crore.
• Annual Assistance: Beneficiaries will receive ₹10,000 per annum in two instalments of ₹5,000 each.
• Payment Dates: Payments will be made on Rakhi Purnima Day and International Women’s Day (March 8).
• Payment Method: In order to ensure transparency in providing the assistance, the payment will be made directly to the beneficiary’s Aadhaar-enabled single-holder (DBT) bank account through the Aadhaar Payment Bridge System (APBS).
• Subhadra Debit Card: Beneficiaries will be issued a Subhadra Debit Card.
• Incentives for Digital Transactions: An additional incentive of ₹500 will be given to 100 beneficiaries with the maximum digital transactions in each gram panchayat and urban local body.

Ineligibility Criteria:

• Women from economically well-off families.
• Government servants.
• Income Tax payees.
• Women receiving assistance of ₹1,500 or more per month or ₹18,000 or more per year under other government schemes.
• Application Process: Application forms are available free of cost at anganwadi centres, block offices, Mo Seva Kendras, and Jan Seva Kendras. A dedicated call center will also be established for the scheme.
• Implementation and Monitoring: The Women and Child Development Department will oversee the scheme's implementation through the Subhadra Society.

About Odisha :

• Governor : Raghubar Das
• Chief Minister : Mohan Charan Majhi
• Capital : Bhubaneswar
• National Parks : Bhitarkanika National Park
• Wildlife Sanctuaries : Gahirmatha Marine Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Sunabeda Wildlife Sanctuary
• Ramsar Sites : Chilika lake, Bhitarkanika mangroves, Satkosia gorge, Hirakud reservoir, Ansupa lake and Tampara lake

CURRENT AFFAIRS: AWARDS AND HONOURS

MAK Lubricants Wins ‘Brand of the Decade Award 2024’

• MAK Lubricants, a premium brand of Bharat Petroleum Corporation Limited (BPCL), has been honoured with the ‘Brand of the Decade Award 2024’.
• The award was presented by Herald Global and Brand Advertising Research & Consulting Pvt. Ltd. (BARC).

1. Significance of the Award:
   • The accolade recognizes MAK Lubricants for its commitment to excellence, innovation, and customer satisfaction over the past decade.
   • It highlights the brand’s strong customer loyalty and its ability to adapt to evolving market dynamics.
2. Event Details:
   • The award was received by Sohail Akhtar, Chief General Manager (Lubes), at the Goalfest Conclave 2024 in Mumbai.
3. Additional Honors:
   • Subhankar Sen, Business Head (Lubes) at BPCL, was also awarded the ‘Marketing Meister Award 2024’ at the same event.
   • This award recognizes Sen’s exceptional leadership and efforts in driving the brand’s growth and value delivery.
4. Significance of Recognitions:
   • Herald Global’s ‘Brand of the Decade’ award is given to brands with a consistent and robust market presence.
   • The ‘Marketing Meister’ award celebrates outstanding leadership in marketing.

CURRENT AFFAIRS: MOUS AND AGREEMENT

REC Ltd and JNPA Sign MoU for ₹45,000 Crore Financing of Infrastructure Projects

• REC Ltd and Jawaharlal Nehru Port Authority (JNPA) signed a memorandum of understanding (MoU).
• The agreement involves financing up to ₹45,000 crore for various upcoming infrastructure projects, including the development of a port at Vadhavan in Maharashtra.
• Rahul Dwivedi, Executive Director of REC, and Unmesh Sharad Wagh, Chairman of JNPA, signed the MoU in the presence of Sarbananda Sonowal, Union Minister for Ports, Shipping, and Waterways.

1. Framework and Purpose:
   • The MoU establishes a framework for cooperation between JNPA and REC.
   • Under this framework, JNPA will implement projects in its area of expertise, while REC will provide the necessary funding.
2. Planned Vadhavan Port:
   • The Vadhavan port in Palghar district, Maharashtra, was approved by the Union Cabinet in June 2024.
   • The port will be developed by Vadhavan Port Project Ltd (VPPL), a joint venture between JNPA (74%) and Maharashtra Maritime Board (MMB) (26%).
   • The project, estimated at ₹76,220 crore, includes developing core infrastructure, terminals, and other commercial infrastructure as part of public-private partnerships (PPP).
3. REC Ltd Overview:
   • REC Ltd is a 'Maharatna' company under the Ministry of Power, primarily focused on financing power infrastructure projects.
   • REC has diversified into non-power infrastructure sectors, including roads, metro rail, airports, IT communication, educational institutions, hospitals, and ports.
   • As of June 30, REC’s loan book was ₹5.30 trillion, and its net worth was ₹2,351 crore.
   • For the first quarter of FY25, REC reported a 16.57% increase in consolidated net profit to ₹3,460.19 crore, up from ₹2,968.05 crore in the previous year. Total income rose to ₹13,092.44 crore from ₹11,108.16 crore.

CURRENT AFFAIRS : DEFENCE NEWS

Indian naval ship INS Mumbai to make first visit to Sri Lanka

• The Indian Naval Ship (INS) Mumbai will make its maiden visit to Sri Lanka, arriving at the port of Colombo for a three-day stay.
• This is INS Mumbai’s first visit to a Sri Lankan port and the eighth visit by an Indian Navy ship to Sri Lanka in 2024.

Purpose of Visit:

• INS Mumbai will deliver essential spare parts for the Dornier maritime patrol aircraft operated by the Sri Lanka Air Force.
• The Indian Navy also supports the maintenance of these aircraft with technical teams and spare parts.
• The Dornier aircraft have provided critical surveillance capabilities over Sri Lanka's Sea Area of Responsibility (AOR) since their induction two years ago.

Key Highlights :

• Engagements and Activities:The Commanding Officer of INS Mumbai will meet with Rear Admiral WDCU Kumarasinghe, the Commander of the Western Naval Area, at the Western Naval Area Headquarters.
• A familiarisation tour of INS Mumbai will be conducted for Sri Lankan Navy personnel to share operational practices.
• Joint activities with the Sri Lankan Navy will include sports fixtures, yoga sessions, and beach cleaning.
• INS Mumbai Specifications:INS Mumbai is the third of the Delhi-class destroyers and was commissioned into the Indian Navy on January 22, 2001.
• It is an indigenously built warship.
• Departure: INS Mumbai is scheduled to depart from Sri Lanka on August 29, 2024.
• Other Visits in 2024: Earlier this year, Indian Naval ships INS Kabra, Karanj, Kamorta, and Shalki, along with Indian Coast Guard ships Samarth, Abhinav, and Sachet, visited Sri Lanka.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India Unveils World's First Mobile Hybrid Rocket: RHUMI-1

• India launched its first reusable hybrid rocket, named RHUMI-1.
• The rocket was developed by the Tamil Nadu-based start-up Space Zone India in collaboration with the Martin Group.
• The rocket was launched from Thiruvidandhai in Chennai, India.

Key Highlights :

• Payload and Purpose:RHUMI-1 carried three Cube satellites to monitor and collect data on atmospheric conditions, including cosmic radiation intensity, UV radiation intensity, and air quality.
• It also deployed 50 Pico satellites to study various atmospheric parameters such as vibration, accelerometer readings, altitude, ozone levels, and toxic content.
• These satellites will collect data to support research on global warming and climate change.
• Technical Specifications:RHUMI-1 is equipped with a generic-fuel-based hybrid motor and an electrically triggered parachute deployer.
• It is 100% pyrotechnic-free, with 0% TNT.
• The rocket combines both liquid and solid fuel propellant systems for improved efficiency and reduced operational costs.
• RHUMI-1 is designed as a sounding rocket, with a height of 3.5 metres and capable of reaching an altitude of about 35 kilometres.
• Mission Leadership:The mission, known as Mission RHUMI 2024, is led by Anand Megalingam, the founder of Space Zone India.
• The project is mentored by Mylswamy Annadurai, former Director of the ISRO Satellite Centre (ISAC) and project director of India's Moon Mission “Chandrayaan”.
• Recovery and Reusability: The team on-site is prepared to recover the rocket, emphasizing its reusable design.

About Space Zone India:

• Space Zone India, an aero-technology company based in Chennai, aims to provide low-cost, long-term solutions in the space industry.
• The company offers hands-on training in aerodynamic principles, satellite technology, drone technology, and rocket technology.
• It also works to create awareness of career opportunities in the aerospace industry.

CURRENT AFFAIRS: SPORTS NEWS

Shikhar Dhawan Announces Retirement from All Forms of Cricket

• Indian cricketer Shikhar Dhawan announced his retirement from all forms of cricket.
• The 38-year-old shared this heartfelt decision on social media, marking the end of an illustrious career that spanned over 12 years.

1. International Career:
   • Dhawan played 34 Tests, 167 ODIs, and 68 T20Is for India, amassing 10,867 runs across formats.
   • He made his mark on the international stage during the 2004 ICC U19 Men's Cricket World Cup, where he scored over 500 runs, including three centuries.
2. Debut and Records:
   • Dhawan made his ODI debut in 2010 against Australia and his Test debut in March 2013, where he smashed the fastest century on debut, reaching 100 in just 85 balls.
   • Known for his prowess in ODIs, Dhawan was instrumental in India's Champions Trophy 2013 victory, finishing as the tournament's highest run-scorer with 363 runs.
3. Legacy in ODI Cricket:
   • Dhawan is one of only eight batters in men's ODI history who scored over 5000 runs with a 40-plus average and a 90-plus strike rate. The only other Indians on this list are Virat Kohli and Rohit Sharma.
4. Final Appearances:
   • Dhawan last played an international match in 2022, an ODI against Bangladesh. His final competitive appearance was in the 2024 IPL, where he captained the Punjab Kings.

India Wins Silver at Maruhaba Cup and Secures Asian Games Surfing Quota

• India won the silver medal at the Maruhaba Cup during the Asian Surfing Championships 2024, held in Thulusdhoo, Maldives.
• The Indian team comprised Kamali P, Ajeesh Ali, Srikanth D, and Sanjay Selvamani.
• Japan claimed the gold medal with a score of 58.40, while India scored 24.13 to secure second place.
• Taipei won the bronze with 23.93, and China finished fourth with 22.10.

1. Semi-Final Success:
   • India won the Heat 2 semi-final with a total score of 32.16.
   • Taipei came in second with 29.70, and Republic of Korea finished third with 27.74.
2. Historical Achievement:
   • The silver medal win follows India’s first-ever quota in surfing for the Asian Games.
   • Both the Indian men’s and women’s surfing teams will compete in the Asian Games 2026 in Aichi-Nagoya, Japan.
3. Individual Milestone:
   • Harish Muthu became the first Indian surfer to qualify for the quarter-finals of the Asian Surfing Championships.
   • Muthu’s impressive run ended in the quarter-finals but marked a significant achievement for Indian surfing.

Tanvi Patri Wins Under-15 Girls Singles Title at Badminton Asia Junior Championships

• Tanvi Patri won the under-15 girls singles title at the Badminton Asia U-17 & U-15 Junior Championships.
• The event was held in Chengdu, China.

1. Match Performance:
   • Patri, seeded No. 1, defeated Thi Thu Huyen Nguyen of Vietnam in straight games.
   • The final score was 22-20, 21-11, with the match concluding in just 34 minutes.
2. Historical Context:
   • With this victory, Tanvi Patri joins Samiya Imad Farooqui (2017) and Tasnim Mir (2019) as winners of the U-15 girls singles title.

Lando Norris Takes Pole Position at Dutch Grand Prix Qualifying

• Lando Norris secured pole position for the Dutch Grand Prix with a standout qualifying performance.
• Norris’ final lap was significantly faster, placing him 356 seconds ahead of second-place Max Verstappen.
• Verstappen’s Record:
  • Max Verstappen had previously dominated at Zandvoort, securing pole and wins in all three races since the Dutch Grand Prix returned to the F1 calendar in 2021.
• McLaren’s Strong Showing:
  • Oscar Piastri achieved the third-fastest time in the second McLaren.
• Surprises in Qualifying:
  • Carlos Sainz Jr. finished 11th for Ferrari, and Lewis Hamilton, the winner of the previous race in Belgium, was 12th for Mercedes.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Dr. Kalpana Sankar's Autobiography "The Scientist Entrepreneur: Empowering Millions of Women" Launched

• Kalpana Sankar's autobiography, “The Scientist Entrepreneur: Empowering Millions of Women,” was unveiled at Cathedral Road.
• The event celebrated women's empowerment and social entrepreneurship, bringing together influential figures from diverse fields.

1. Opening with a Visual Tribute:
   • The event began with a short film highlighting the impactful work of Hand in Hand India, an international NGO co-founded by Dr. Kalpana Sankar.
   • The film provided a visual narrative of the organization’s efforts in empowering women and fostering community development.
2. Distinguished Guests:
   • The launch was attended by several notable personalities:
     • Soumya Swaminathan, Chairperson of MS Swaminathan Research Foundation and former WHO chief scientist, officially released the book.
     • Swaady Martin, Chairperson and CEO of Yswara, received the first copy of the autobiography.
     • Sridhar Vembu, Founder and CEO of Zoho Corporation, participated virtually.
     • Anu Hasan, actor, engaged in a fireside chat with Dr. Kalpana Sankar.

CURRENT AFFAIRS : OBITUARIES

Former Player and Ex-Coach of Federer, Peter Lundgren, Passed Away

• Former Swedish tennis player Peter Lundgren, who also coached Roger Federer early in the Swiss player's career, has passed away at the age of 59.

About Peter Lundgren :

• Lundgren was part of the wave of Swedish tennis players in the 1980s that followed in the wake of icon Bjorn Borg, playing alongside the likes of Mats Wilander and Stefan Edberg.
• He won three ATP titles and was ranked 25th in the world at the peak of his career.
• After hanging up his racquet, he went on to coach Federer for four years, helping the Swiss superstar win 10 ATP titles and his first Grand Slam title at Wimbledon in 2003.

5-Time Venezuelan Olympic Cyclist Daniela Chirinos Passed Away

• Daniela Larreal Chirinos, a five-time Olympic cyclist who competed for Venezuela over the course of a decade, has passed away at the age of 51.

About Daniela Larreal Chirinos :

• Daniela Greluis Larreal Chirinos was born on 2 October 1973 in Maracaibo,Venezuela.
• She earned over 30 international medals throughout her career, with 24 years between her first and last podium finishes.
• Her first major international success came at the 1990 Central American and Caribbean Games, where she was the only female track cyclist from Venezuela.
• She won a silver medal in the sprint event.
• Larreal competed in five Olympic Games: 1992 (Barcelona), 1996 (Atlanta), 2000 (Sydney), 2004 (Athens), and 2012 (London).
• She did not participate in the 2008 Beijing Olympics.

Daily CA One- Liner: August 27

• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the proposal ‘BioE3 (Biotechnology for Economy, Environment and Employment) Policy for Fostering High-Performance Biomanufacturing’ of the Department of Biotechnology.
• Prime Minister Narendra Modi will attend the Lakhpati Didi Sammelan in Jalgaon, Maharashtra, on 25 August 2024.
• The National Medical Register (NMR) portal was launched by Union Minister for Health and Family Welfare, J.P. Nadda
• RailTel Corporation of India Ltd (RailTel), a Miniratna PSU, has been awarded the ISO 14001:2015 certification
• MAK Lubricants, a premium brand of Bharat Petroleum Corporation Limited (BPCL), has been honoured with the ‘Brand of the Decade Award 2024’.
• REC Ltd and Jawaharlal Nehru Port Authority (JNPA) signed a memorandum of understanding (MoU)
• Indian cricketer Shikhar Dhawan announced his retirement from all forms of cricket.
• India won the silver medal at the Maruhaba Cup during the Asian Surfing Championships 2024, held in Thulusdhoo, Maldives.
• Tanvi Patri won the under-15 girls singles title at the Badminton Asia U-17 & U-15 Junior Championships
• Lando Norris secured pole position for the Dutch Grand Prix with a standout qualifying performance.
• Kalpana Sankar's autobiography, “The Scientist Entrepreneur: Empowering Millions of Women,” was unveiled at Cathedral Road.
• Finance Minister (FM) Nirmala Sitharaman sought the Reserve Bank of India’s (RBI’s) intervention in clearing the pending dues of Regional Rural Banks (RRBs) with state governments.
• The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1,92,00,000 on NDX P2P Private Limited, also known as 'LiquiLoans'.
• Tata AIA Life Insurance has unveiled its latest term insurance product, Sampoorna Raksha Promise.
• The Chhattisgarh government’s education department is using artificial intelligence (AI) to improve school education and programmes like midday meals.
• The Bharatiya Janata Party Government led by Odisha Chief Minister Mohan Majhi, announced the implementation of the Subhadra scheme under which ₹50,000 will be provided over five years to one crore women between the ages of 21 and 60.
• The Indian Naval Ship (INS) Mumbai will make its maiden visit to Sri Lanka, arriving at the port of Colombo for a three-day stay.
• India launched its first reusable hybrid rocket, named RHUMI-1.
• Former Swedish tennis player Peter Lundgren, who also coached Roger Federer early in the Swiss player's career, has passed away at the age of 59.
• Daniela Larreal Chirinos, a five-time Olympic cyclist who competed for Venezuela over the course of a decade, has passed away at the age of 51.