Current Affairs Quiz - September, 2024

Notes:
TV Somanathan has been appointed as the 33rd Cabinet Secretary of India. He succeeded Rajiv Gauba, the longest-serving Cabinet Secretary since August 2019. Rajiv Gauba, a 1982 batch IAS officer, got three one-year extensions until August 2024. The government amended retirement rules to extend Gauba’s term. Before Gauba, Pradeep Kumar Sinha held the longest term as Cabinet Secretary for over four years. Somanathan, a 1987 batch Tamil Nadu cadre IAS officer, was previously Finance Secretary and Expenditure Secretary. He has a PhD in Economics, is a Chartered Accountant, and has held significant roles in Tamil Nadu and the World Bank.

Notes:
India Post Payment Bank (IPPB) recently celebrated its 7th Foundation Day. IPPB was established under the Department of Posts, Ministry of Communication, with 100% ownership by the Government of India. It aims to provide efficient banking services to every household in India, enhancing financial security and empowerment. IPPB leverages a vast postal network of over 1,61,000 post offices across the country. Services offered include savings and current accounts, Direct Benefit Transfers, bill and utility payments, and access to third-party products like loans and insurance.

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The Ministry of Electronics and Information Technology (MeitY) launched the India Graphene Engineering and Innovation Centre (I-GEIC) as part of the Graphene Aurora program (GAP) in Kerala. The GAP is managed by Digital University Kerala.
The IGEIC is a non-profit organization based in Trivandrum, Kerala. Its goal is to become a leading center for the commercialization of graphene technology. The IGEIC aims to bridge the gap between research and commercialization by offering comprehensive facilities for startups and industries. Previously, MeitY had established India’s first graphene center, the India Innovation Centre for Graphene (IICG), in Kerala.

Notes:
The Indian Navy and South African Navy signed an agreement to enhance naval cooperation, ensuring the safety of the South African Navy’s submarine crew during emergencies. Under this agreement, the Indian Navy will assist by deploying its Deep Submergence Rescue Vehicle (DSRV) when needed. This strengthens the maritime relationship between India and South Africa. The agreement follows a 2023 incident where three South African Navy personnel died off Cape Town’s coast. South Africa, with a few submarines, will benefit from India’s DSRV, which is used for submarine rescues and covert operations.

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The Punjab Apartment and Property Regulation (Amendment) Act, 2024 was passed to stop unauthorized developments. It aims to make property registration easier for small landowners. The law regulates illegal colonies and imposes strict penalties for violations. The Chief Minister emphasized its importance for public welfare. This legislation highlights Punjab’s commitment to addressing illegal colonies and promoting proper development in the state.

Notes:
India has approved the export of 8,606 metric tonnes of sugar to the United States for the US fiscal year 2025. This export is under the Tariff Rate Quota (TRQ) scheme, as announced by the Directorate General of Foreign Trade (DGFT).
The TRQ is a trade policy that permits a limited amount of goods to be imported at a lower tariff rate. Any imports beyond the set limit are subject to higher tariffs. The TRQ helps balance protecting domestic industries while fulfilling demand through imports.

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The Union Minister for Textiles announced that annual exports of technical textiles are expected to exceed $10 billion by 2030. Technical textiles are materials designed for their functional properties rather than aesthetics. They include industrial, functional, performance, and hi-tech textiles. These textiles offer high physical, mechanical, thermal, and chemical properties for various industrial uses. They are used in sectors like construction, transport, defense, medical, and more, either on their own or as parts of other products. They are made from both natural and synthetic fibers and are categorized into 12 groups based on their applications.

Notes:
The Chief Economic Adviser (CEA) warned that financialisation could affect India’s macroeconomic outcomes. Financialisation refers to the growing size and influence of the financial sector in a country’s economy. It involves financial markets, institutions, and elites gaining control over economic policies and outcomes. The shift is from traditional industries like manufacturing to financial activities such as asset trading and speculation. This process affects both the macro and microeconomy, influencing corporate behavior and policies. Financialisation has also led to higher income growth in the financial sector compared to other sectors.

Notes:
Surat, previously ranked 13th, secured 1st place in the Swachh Vayu Survekshan (SVS) 2024 among 131 cities across India.
The city scored 194 out of 200 marks and reduced PM10 levels by 12.71% in 2023-24. Surat was honored as a ‘National Clean Air City’ with ₹1.5 crore, a trophy, and a certificate at a ceremony in Jaipur. The Swachh Vayu Sarvekshan, initiated by the government, aims for a 30% reduction in air particulates and evaluates cities based on waste management, dust, emissions, and public awareness.

Notes:
The 20th edition of the India-USA Joint Military Exercise YUDH ABHYAS-2024 began at the Mahajan Field Firing Ranges in Rajasthan. The exercise is scheduled to be conducted from 9th to 22nd September 2024. Yudh Abhyas is an annual joint military exercise between India and the USA, ongoing since 2004. The exercise fosters cooperation between the two militaries, focusing on training, cultural exchanges, and developing joint operational skills. The previous edition took place at Fort Wainwright, Alaska, USA.