Current Affairs | National | International | SSC | UPSC 7th July 2024

 National News 

1. Amit Shah addressed “Sahkar Se Samriddhi” conference 

• Union Home Minister and Minister of Cooperation, Amit Shah addressed “Sahkar Se Samriddhi” conference on the occasion of 102nd International Day of Cooperatives in Gandhinagar, Gujarat. 
• The Ministry of Cooperation organized ‘Sahkar se Samriddhi’ conference on this day to mark the celebration of International Day of Cooperatives 2024. 
• The International Day of Cooperatives is an annual celebration of the cooperative movement around the world. It has been observed on the first Saturday of July (6 July) ever since 1923 by the International Cooperative Alliance (ICA). 
• The theme for the 102nd International Cooperative Day is- “Cooperatives Build a Better Future for All.” 

2.Annual defence production hits record high of approx. Rs 1.27 lakh crore in FY24

 

• Ministry of Defence has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24. 
• As per the data received from all Defence Public Sector undertakings (DPSUs), other PSUs manufacturing defence items and private companies, the value of defence production in the country has gone up to a record-high figure i.e., Rs 1,26,887 crore, reflecting a growth of 16.7% over the defence production in F24. 
• The value of defence production in FY 2022-23 was Rs 1,08,684 crore. 
• Of the total value of production (VoP) in 2023-24, about 79.2% has been contributed by DPSUs/other PSUs and 20.8% by the private sector. 
• The feat has been achieved due to the policy reforms/initiatives and ease of doing business brought in by the Government in the last 10 years with focus on attaining self-reliance. 
• In the last five years (since 2019-20), the value of defence production has been increasing steadily, and grown by over 60%. 

3. Union Budget to be presented on July 23 

• The first Union Budget (2024-25) of Prime Minister Narendra Modi's third term will be presented by Finance Minister Nirmala Sitharaman in the Lok Sabha on July 23, with the Parliament session starting a day earlier. The session will conclude on August 12. 
• "President of India, on the recommendation of Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024, from July 22, 2024, to August 12, 2024, (subject to exigencies of Parliamentary Business). Union Budget 2024-25 will be presented in Lok Sabha on 23 July 2024," Parliamentary Affairs Minister Kiren Rijiju posted on X on Saturday. In her address to a joint sitting of Parliament during the special session, President Droupadi Murmu said that the coming Bud- get would be an impactful 
• The Interim Budget for 2024-25 was presented in February document of the government's far-reaching policies and futuristic vision, and that several historic steps and major economic and social decisions would be taken. The pace of reforms would be accelerated to fulfill the aspirations of people, she said. 
• The Interim Budget was presented in February, ahead of the Lok Sabha election. Soon after Mr. Rijiju's announcement, Trinamool Congress leader Derek O'Brien also took to X to say that it was the "government's duty to run Parliament smoothly in upcoming Budget session". 

4. India to host 5G, 6G and Emerging Technologies Hackathon in September 

• India will host the 5G, 6G, and Emerging Technologies Hackathon in September this year alongside the ‘WTSA24 (World Telecommunication Standardization Assembly) Outreach Sessions’. 
• The initiative aims to bring together innovators, industry leaders, and academics to explore the frontiers of next-generation telecom technologies. The hackathon will serve as a hub for cutting-edge innovation in telecommunications. 
• Focused on advancing technologies like 5G and 6G, the event will attract participants from industry, academia, and startups, all aiming to showcase pioneering solutions. 
• During the 30-hour event to be held in dedicated 5G labs in Delhi, Hyderabad, and Bengaluru, participants will collaborate in a dynamic environment to develop their ideas. 

5. Bajaj launches world’s first CNG motorbike 

• Pune headquartered Bajaj Auto has launched the world’s first CNG powered motorcycle. 
• Priced between Rs 95,000 and Rs 1,10,000, the bike will be available across the country in a phased manner. 
• Union minister of Road Transport Nitin Gadkari who unveiled the bike talked about the Centre’s commitment to green and clean technology. 
• India’s automobile industry is the third largest in the world. “Our automobile industry contributes around Rs 3 lakh crore in terms of GST and employs around 4 crore people. 
• Called Freedom, the CNG powered bike has a 2-kg CNG cylinder and a 2-litre petrol tank. The bike, which has a 125 cc engine, has the longest seat length and state of the art technology. 
• The bike, which can switch to petrol when gasoline runs low, has been through 11 safety tests. It will be available in Indian markets in a phased manner. 

State News 

6. In Assam, banks suffer from 'militancy hangover': experts 

• The agriculture sector in Assam has suffered because banks and financial institutions are yet to get over the "militancy hangover", a representative of farmers' associations in Northeast India has told the Centre. 
• The anti-outsiders Assam agitation (1979-85) and two decades of extremism created a negative perception among bankers and financiers about the farmers' repayment capability, the person said at a prebudget meeting in New Delhi in June. Though most extremist groups have inked peace deals since the early 2000s, the perception has led to a "very poor credit flow and an absence of bank linkage" for some 25 lakh small and marginal farmers with about 20 lakh hectares of agricultural land. 
• "The need of the hour is to revive Assam's large and highly potential agriculture sector with bank linkage. This sector never had the privilege to get linked with banks in an organized manner apart from the Kisan Credit Card and directive loans," Nandita Shar- ma, executive director of the Associated Tea and Agro Management Services (ATMS), said. A consultancy group, the ATMS represented the farm sector and farmers of the northeast at a pre-Budget meeting with Finance Minister Nirmala Sitharaman Sitha and other senior officers on June 21. 
• Ms. Sharma said all schemes in the agriculture, allied, and medium and small enterprises sectors had failed in the State and other parts of the north-east primarily due to poor bank linkage. The ATMS suggested customized bank products through "small ticket loans" in piggery and bamboo,

 Defence News 

7. DRDO unveils country's indigenous light tank Zorawar 

• The prototype of the country's indigenous light tank Zorawar is ready and will soon be subjected to extensive trials, Defence officials have said. 
• The tank, unveiled on Saturday, was jointly developed by the Defence Research and Development Organisation (DRDO) along with Larsen & Toubro as the lead integrator. The tank is currently powered by a Cummins engine, and the DRDO has taken up a project to develop a new engine domestically, officials said. 
• "It has been developed from the drawing board within the shortest possible time and capable of operation in the most challenging environment on earth: extreme weather and extreme height with minimal logistic support in high-altitude area along the northern border," a Defence official said. 
• The first prototype is ready after factory acceptance. Shortly, it will be subjected to internal trials in the field area and thereafter handed over to the users for trials, the source stated. 
• As part of developmental trials, over the next six months, the tank will be tested in various conditions including summer, winter and high altitude, another source said. "The tank is planned to be handed over to the Army for user trials by August 2025." Initially, a German engine was identified as the best suitable to power the light tank. 
• However, its procurement got delayed due to export clearances from Germany. While the German government did approve it, officials said it was too late and was delaying the project. So, the tank was developed with an engine powered by Cummins and the company has agreed to assemble it in India, one of the sources cited above said. 
• The DRDO has taken up a project to develop a power pack for the light tank as a new 1,400-HP engine is also under development for the Arjun Mk1A main battle tank, sources added. 
• In April 2021, the Army had issued a Request For Information for the procurement of 350 light tanks weighing less than 25 tonnes in a phased manner, along with performance-based logistics, niche technologies, engineering support package, and other maintenance and training requirements. Following this, the DRDO and the L&T teamed up to develop a light tank indigenously along with many Micro, Small and Medium Enterprises who have been roped in for various sub-system development to encourage indigenous development of Defence weapon platform through industry. 

Banking and Financial 

8. Shriram Life Insurance launched Deferred Annuity Plan 

• Private sector life insurer Shriram Life Insurance Company has launched a Deferred Annuity Plan aimed at providing a steady retirement income for customers. 
• With an annuity plan starting at Rs 60,000 a year, the entry age for the plan is from 40 to 75 years and it includes payable with or without Return of Purchase Price.
• Deferment period is from 5 to 10 years after which annuity payments would commence. 
• The Shriram Life Deferred Annuity Plan aims to fill this gap by providing an income stream and life cover, ensuring financial support for customers and their spouses without relying on their children or others. Its affordable rates cater to entrepreneurs not covered under social security schemes. 

9. RBI imposes Rs 1.31 Cr penalty on PNB 

• The Reserve Bank of India has imposed a monetary penalty of Rs 1.31 crore on Punjab National Bank for non-compliance with certain directions related to KYC and ‘loans and advances. 
• The Reserve Bank said it conducted a statutory inspection of the bank concerning its financial position as on March 31, 2022. 
• This penalty was imposed for non-compliance with RBI directions regarding ‘Loans and Advances: Statutory and Other Restrictions’ and the ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016’. 
• RBI has also cancelled the licence of Shimsha Sahakara Bank Niyamitha, Maddur (Karnataka) in the wake of its worsening financial position. 
• On liquidation, every depositor would be entitled to receive a deposit insurance claim amount of his/her deposits up to Rs 5 lakh from Deposit Insurance and Credit Guarantee Corporation (DICGC). 

10. Recent Penalties imposed on Banks by RBI 

• FIU imposes over Rs 1.66 crore fine on Axis Bank for failing to detect fraud NSG account 
• SBM Bank India (88.70 lakh) – for non-compliance with certain regulatory norms 
• HSBC (36.38 lakh) – for violating Fema regulations 
• ICICI Bank (1 crore) – For non-compliance with certain directions on ‘Loans and Advances – Statutory and Other Restrictions’. 
• YES Bank (91 lakh) – For violation of certain norms on ‘Customer Service in Banks’, and ‘Un-authorised Operation of lnternal/Office. 
• Hero Fincorp Ltd (3.10 lakh) – For rule violations

 Appointment

11. Government extends tenure of Pradeep Singh Kharola as CMD of ITPO 

• The appointments Committee of the Cabinet has extended the tenure of Retired IAS officer, Pradeep Singh Kharola as Chairman and Managing Director of India Trade Promotion Organization. 
• The Committee has given an extension till 19th October 2025. 
• Kharola will also continue to be chairman of the National Recruitment Agency and Director General of the National Testing Agency (NTA). Recent Appointment 
• DG of Press Information Bureau – Dhirendra Ojha (replace Sheyphali Sharan) 
• Chairperson of the National Medical Commission – Dr BN Gangadhar 
• President of Medical Assessment and Rating Board – Dr Sanjay Behari 
• Maharashtra’s first Woman Chief Secretary – Sujata Saunik (replace Nitin Kareer) 
• Chairman of CBDT – Ravi Agrawal (replace Nitin Gupta) 

12. Masoud Pezeshkian elected as the new President of Iran 

• Reformist and moderate leader, Masoud Pezeshkian has been elected as Iran’s new president. 
• The Interior Ministry of Iran declared him the winner of the presidential run-off against rival Saeed Jalili.. 
• In the run-off presidential election, Masoud Pezeshkian secured 53.7 per cent of the votes, and Jalili got 44.3 per cent. 
• The presidential election was necessitated in Iran after the death of President Ebrahim Raisi, foreign minister Hossein Amir-Abdollahian, in a helicopter crash on 19 May 2024. 
• The term of the Iranian President is four years, and he is eligible for re-election. About Iran 
• Capital – Tehran 
• Currency – Rial
• President – Masoud Pezeshkian 
• Supreme Leader – Ayatollah Sayyed Ali Khamenei 

Awards 

13. Foxconn Chairman Young Liu receives Padma Bhushan 

• Foxconn Chairman Young Liu has received the Padma Bhushan from Manharsinh Yadav of India Taipei Association.
• Liu was conferred with Padma Bhushan, the third-highest civilian award, on the eve of the 75th Republic Day this year. 
• Foxconn is not only expanding its iPhone production facility but is also setting up a chip plant in a joint venture with HCL Group. 

14. Why was Foxconn Chairman Young Liu awarded the Padma Bhushan? 

• Foxconn, headquartered in Taiwan, is the world’s largest contract manufacturer, assembling about 70 per cent of all iPhones. 
• In the past year, Foxconn has invested heavily in expanding its presence in India, particularly in the southern regions. 
• This expansion is part of a broader strategy to reduce reliance on Chinese manufacturing and capitalise on the growing opportunities in the Indian market. 

15. Agri-entrepreneur Sopna Kallingal received Spice Award 2024 

• Sopna Kallingal of Kallingal Plantation, Thrissur, has received Spice Award 2024, instituted by ICAR-Indian Institute of Spices Research. 
• The award has been given to her for her initiatives in enterprise diversification and integrated crop management strategies, promoting a sustainable spice-based cropping system. 
• Kallingal plantation has a diverse range of crops, embodying a dedication to enterprise diversification and agriculture innovation, according to the award citation. 
• The priority crop in the Kallingal Plantation is nutmeg. However, through an intercropping method, the plantation has optimised space and productivity, integrating nutmeg trees, coconut palms, areca nut and black pepper vines. 

Important day 

16. 6 July – World Zoonoses Day 

• World Zoonoses Day is observed every year on July 6. 
• Objective – To raise awareness amongst the public and the stakeholders about the danger of diseases that can be transmitted from animals to humans. 
• Theme 2024 – One World, One Health: Prevent Zoonoses” 
• On 6 July 1885, the French biologist Louis Pasteur successfully administered the first rabies vaccine to a 9-year-old boy, Joseph Meiste, who had been bitten by a rabid dog. To mark such a momentous event in medical science, every year, 6 July is observed as World Zoonoses Day. What is a Zoonotic Disease? 
• The root of the Zoonoses word is the Greek word “Zoon” and “nosos”. In Greek “Zoon” means animal, and “nosos” means illness. Thus, Zoonoses refers to a disease that spreads from vertebrate animals to humans and vice versa. 
• Vertebrates are animals with a backbone and a central nervous system partly enclosed within the backbone. Vertebrates include mammals (like humans), amphibians, birds, reptiles, and fish. 

17. 6 July – International Kissing Day 

• International Kissing Day is observed on 6 July every year. 
• The day is dedicated to the art of kissing and is a way to express love and intimacy. Kissing is a simple act that can have a profound impact on someone’s life. 
• International Kissing Day helps us understand the main motive behind the gesture. It can show how much a person means to you. You can express your love and feelings for a person by kissing them. 
• The history of kissing dates back to 1955 when American and British servicemen in France noticed that French women were more open to kissing than their American and British counterparts. 
• The term “French kiss” was most likely coined by American and British servicemen in France during World War I. However, it is important to note that the French did not have a specific word for the famous mouth-on-mouth until recently.