Current Affairs Quiz - August, 2024

Notes:
Bharat Heavy Electricals Limited (BHEL) secured a Rs 10,000 crore contract from Damodar Valley Corporation (DVC) for Koderma Thermal Power Station Phase-II in Jharkhand. The project includes supplying and installing boilers, turbines, generators, and systems. BHEL will also handle civil works and commissioning, emphasizing its crucial role in improving India’s thermal power infrastructure and solidifying its status in the energy sector.

Notes:
National Handloom Day, celebrated on August 7th, honors India’s handloom heritage and supports artisans. Launched in 2015 to mark the Swadeshi Movement’s centenary, it promotes indigenous crafts and empowers weavers. The 2024 theme focuses on integrating technology and innovation to expand market access and enhance skill development for artisans.

Notes:
The yen carry trade became notable after the Bank of Japan raised interest rates and cut bond purchases, causing the yen to strengthen. Investors reacted by unwinding their positions to prevent losses, which led to a selloff in US tech stocks and affected global markets, including Asia. A carry trade involves borrowing in a country with low interest rates and investing in assets in a country with higher returns.

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The Government of Nagaland signed a Memorandum of Understanding with SBI General Insurance to implement the Disaster Risk Transfer Parametric Insurance Solution (DRTPS), making Nagaland the first state in India to adopt such a measure. The DRTPS aims to safeguard critical infrastructure and mitigate economic losses from floods, droughts, and mudslides. The government will cover the insurance premium for three years, addressing the rising risks from climate change-related extreme weather events.

Notes:
Bluetongue disease has been found in all 12 provinces of the Netherlands. This viral disease affects wild and domestic animals like sheep, goats, and cattle, and is spread by biting culicoides midges. It is not contagious between animals. Symptoms vary, with sheep showing the most signs, including internal bleeding. Young lambs are particularly vulnerable, with a mortality rate of up to 30%. Vaccination and insect control are key to managing the disease.

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Sucralose, a no-calorie artificial sweetener made from table sugar (sucrose), has been found to have no adverse impact on glucose or HbA1c levels and may even improve body mass index (BMI). It’s approximately 600 times sweeter than sugar and exceptionally stable. Most consumed sucralose (85%) passes through the body unchanged while the remaining 15% absorbed sucralose gets excreted quickly in urine without providing any calories.

Notes:
The Minister of State for Environment, Forest, and Climate Change recently informed the Lok Sabha on the National Coastal Mission Scheme. The National Coastal Mission Scheme was launched in 2014 as part of the National Action Plan on Climate Change. Its goal is to address climate change impacts on coastal and marine ecosystems, infrastructure, and communities through adaptation and mitigation. The scheme is implemented by State Governments of Coastal States and Union Territory Administrations

Notes:
The Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) has achieved only 30% of its targets so far, raising concerns about meeting its 2026 deadline. It was launched in 2019. PM-KUSUM aims to reduce diesel use in farming, ensure water and energy security, boost farmers’ incomes, and reduce environmental pollution. The goal is to add 34.8 GW of solar capacity by March 2026. The Ministry of New and Renewable Energy oversees the scheme.

Notes:
The intense wildfires in the U.S. and Canada have created “pyrocumulonimbus” clouds, which can produce lightning and potentially spark more fires. These clouds form when extreme heat from wildfires causes hot air, carrying water vapor, smoke, and ash, to rise and cool, creating fire clouds. If the conditions intensify, these clouds can generate thunderstorms but little rain, spreading wildfires further. Climate change may be increasing their frequency due to rising global temperatures.

Notes:
The RBI recently introduced Continuous Clearing of Cheques under the Cheque Truncation System (CTS) for faster cheque clearance. CTS is an online system that captures and transmits cheque images and Magnetic Ink Character Recognition (MICR) data electronically, eliminating the need for physical cheque movement. CTS uses a PKI-based security system with dual access control, user ID, passwords, cryptobox, and smart card interfaces. Only CTS-2010 compliant cheques, with standard security features like watermarks and invisible ink logos, are accepted for clearing. Standardization helps banks in processing and recognizing cheques efficiently.