Current Affairs Quiz - August, 2024

Notes:
India’s first round-the-clock grain ATM was recently launched at Mancheswar in Bhubaneswar, Odisha. Odisha introduced its first Grain ATM on August 8, 2024, under the National Food Security Programme. This technology, part of the central Annapurti programme, was developed with the World Food Programme to enhance food security. Grain ATMs are automated machines that provide food grains directly to people, reducing hunger and ensuring fair distribution. They minimize human intervention, cut down on corruption, and were first used during the COVID-19 pandemic. Some machines use biometric authentication for security and offer fortified grains to improve nutrition, aiming to reduce food waste and increase efficiency.

Notes:
The Deputy Governor of the Reserve Bank of India (RBI) mentioned that the RBI is reviewing the foreign investment limit in the overnight index swap (OIS) market. OIS is a derivative that swaps fixed interest rates for a predetermined overnight index rate to manage interest rate risk. The OIS rate is calculated daily based on the average overnight lending rate. It allows financial institutions to swap interest rates without refinancing their loans.
One institution swaps a floating overnight rate while the other swaps a fixed short-term rate, settling differences at the end of the agreement.

Notes:
The ICAR-Central Plantation Crops Research Institute (CPCRI) in Kasaragod recently issued an advisory to help farmers control the spread of fruit rot disease, also known as koleroga, in arecanut plantations. Fruit rot disease harms crops, leading to major losses for farmers and making produce unsellable. It can sometimes even kill the plant. The disease is caused by fungi, bacteria, or viruses, making it hard to prevent and treat. Heavy rainfall, low temperatures, high humidity, and alternating sunshine and rain favor the spread of the disease.

Notes:
The Union Finance Minister introduced the Banking Laws (Amendment) Bill, 2024, to transfer unclaimed dividends, shares, and bonds to the Investor Education and Protection Fund (IEPF). The IEPF was established under the Companies Act, 1956, and manages unpaid amounts like dividends, deposits, and debentures unclaimed for seven years. The fund also receives grants and donations and is managed by the Investor Education Protection Fund Authority (IEPFA). IEPFA was established in 2016 under the Companies Act, 2013, and is overseen by the Ministry of Corporate Affairs.

Notes:
Gotipua is a traditional dance form from Odisha, performed by young boys who dress as women to honor Lord Jagannath and Lord Krishna. This dance, a precursor to Odissi classical dance, involves acrobatic movements inspired by the life of Radha and Krishna. The boys wear a bright blouse called “Kanchula” and an embroidered silk cloth called “Nibibandha.” Gotipua emerged in the 16th century during King Rama Chandra Dev’s reign, replacing female temple dancers known as Devadasis. However, the future of these young dancers becomes uncertain as they age and leave the tradition.

Notes:
There are concerns about the safety of the Mullaperiyar Dam, which may be at risk of collapsing. Built by the British across the River Periyar, its main purpose is to divert water to Tamil Nadu’s arid regions. A 999-year lease gives Tamil Nadu operational rights, despite the dam being in Kerala. The dam helps with flood control and transforms land in Tamil Nadu into fertile areas. There is a long-standing dispute between Kerala and Tamil Nadu over the dam’s safety and water rights. The dam, a composite gravity structure, is aging and vulnerable due to its lack of seismic consideration, despite some strengthening efforts.

Notes:
The Jiyo Parsi Scheme, launched in 2013-14 by the Ministry of Minority Affairs, aims to reverse the declining Parsi population in India. It includes three components: Medical Assistance, Health of Community, and Advocacy. The scheme provides financial help to Parsi couples for medical treatments, child care, and elderly support. Additionally, outreach programs are conducted to raise awareness among the Parsi community. The recent launch of the Jiyo Parsi Scheme portal marks a new step in implementing these structured interventions to stabilize the Parsi population in India.

Notes:
Prime Minister Narendra Modi expressed pride over the #HarGharTiranga campaign. The campaign, initiated by the Ministry of Culture and MyGov, aims to spread awareness about India’s National Flag, the Tiranga. It seeks to transform people’s relationship with the flag from a formal connection to a more personal and heartfelt bond.

Notes:
Research on biosurfactants in food industries highlights challenges in their large-scale commercialization. Biosurfactants are surface-active molecules produced by microorganisms, either on their surface or secreted. They help microorganisms attach or detach from surfaces, regulate bacterial movement, and quorum sensing. These eco-friendly molecules are stable across various pH, temperature, and salinity, making them suitable for food use. They are used in bakeries, salad dressings, and for removing heavy metals from vegetables. Biosurfactants can also serve as natural antioxidants in food products to prevent spoilage.

Notes:
The Panama Canal is working to regain trade in liquefied natural gas and food commodities after a historic drought disrupted traffic last year. It connects the Atlantic and Pacific Oceans through the Isthmus of Panama, serving as a key maritime trade route. Construction began in 1881 by France but failed due to financial and health issues. The U.S. completed the canal in 1914 and managed it until 1999, when Panama took full control under the Torrijos-Carter Treaties.