Current Affairs Quiz - September, 2024

Notes:
Prime Minister Narendra Modi addressed Global Fintech Fest (GFF) 2024 held at the Jio World Convention Centre in Mumbai.
The event is organized jointly by the Payments Council of India, the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC). The GFF is considered one of the world’s largest gatherings of fintech startups, investors, experts, bankers, and regulators from around the globe.

Notes:
INS Tabar conducted a Maritime Partnership Exercise (MPX) with the Spanish Navy’s Ship Atalaya in the Mediterranean Sea.
The exercise signifies India’s naval outreach and marks a milestone in maritime cooperation between India and Spain. The MPX included advanced exercises like Station Keeping, Replenishment at Sea Approaches, Flying Exercise, Steam Past, and PHOTOEX. Both navies showed high professionalism and commitment, reinforcing strong bilateral naval ties and enhancing cooperation in the maritime domain.

Notes:
Ukraine successfully tested its first ballistic missile, named Hrim-2, developed by its defense industry. Hrim-2, also known as Grim, Grom, or OTRK Sapsan, is a Ukrainian short-range ballistic missile system. It combines the features of a tactical missile system and a multiple rocket launcher. The export version of Hrim-2 has a range limited to 280 km to comply with international regulations. For Ukraine’s military, the missile’s range is extended to 700 km. The Sapsan system features a 10-wheeled launcher that carries two missiles and can evade modern air defenses, similar to Russia’s Iskander missile.

Notes:
Poachers killed two chitals in Pilibhit Tiger Reserve (PTR) and stole a rifle from a forest guard. It is located in Uttar Pradesh’s Pilibhit, Lakhimpur Kheri, and Bahraich districts. It lies near the India-Nepal border, in the foothills of the Himalayas and the Terai plains. The Gomti River originates from Pilibhit Tiger Reserve, with other rivers like Sharda also flowing through it. The reserve has a North Indian moist deciduous type of vegetation. It experiences a hot and dry climate with dry teak forests. Chitals, common in Indian forests, inhabit subtropical grasslands and forests across South Asia.

Notes:
The Ministry of Labour & Employment launched the eShram portal on 26th August 2021. In just three years, over 30 crore unorganised workers registered on eShram, showing rapid adoption. The portal aims to be a “One-Stop-Solution” for unorganised workers, integrating with other platforms. This integration was highlighted in the 2024-25 Budget speech to improve access to social security schemes. eShram will help unorganised workers access schemes like PMJJBY, PMSBY, AB-PMJAY, and others. A two-way integration with the Skill India Digital Hub (SIDH) is also underway to enhance service accessibility.

Notes:
The Union Cabinet, chaired by the Prime Minister, approved the Digital Agriculture Mission with a budget of Rs. 2817 Crore. The central share for this mission is Rs. 1940 Crore. The mission supports digital agriculture initiatives through Digital Public Infrastructure (DPI), Digital General Crop Estimation Survey (DGCES), and other IT projects. Three main components under DPI are AgriStack, Krishi Decision Support System (DSS), and Soil Profile Maps. These components aim to provide solutions for farmers to access various services. AgriStack will include a Farmers’ Registry, Geo-referenced Village Maps, and a Crop Sown Registry managed by state governments

Notes:
The World Bank stated that India’s medium-term outlook remains positive despite challenging global conditions. India’s growth is expected to reach 7% in the financial year 2024-25 and stay strong in 2025-26 and 2026-27. The World Bank released a report ‘India Development Update: India’s Trade Opportunities in a Changing Global Context’ on 3 September 2024. With strong revenue growth and fiscal consolidation, the debt-to-GDP ratio is projected to decrease from 83.9% in 2023-24 to 82% by 2026-27. The current account deficit is expected to remain around 1 to 1.6% of GDP until 2026-27. The World Bank emphasized the importance of trade for growth but noted that increased protectionism and barriers could limit trade opportunities.

Notes:
The Cabinet Committee on Security recently approved the procurement of 240 aero-engines for Su-30MKI aircraft of the Indian Air Force (IAF). The Su-30MKI is a multirole combat fighter aircraft developed jointly by Sukhoi Design Bureau and Hindustan Aeronautics Limited (HAL) for the IAF. It is based on the Su-30 fighter aircraft and features thrust vectoring control and canards. The Su-30MKI is a fourth-generation fighter jet powered by two AL-31FP aero engines, which are high-temperature turbojet by-pass engines. The aircraft is equipped with BrahMos supersonic cruise missiles, tested successfully in November 2017. It includes a Tarang Radar Warning Receiver (RWR) developed by DRDO. The Su-30MKI has a maximum unrefueled flight range of 3,000 km, which can extend to 8,000 km with two in-flight refuelings. The aircraft is manufactured by Hindustan Aeronautics Limited (HAL).

Notes:
The Ministry of Road Transport & Highways (MoRTH) announced a Global Navigation Satellite System (GNSS)-based Electronic Toll Collection (ETC) system in India. The system was developed by the Indian Highways Management Company Limited (IHMCL) to reduce congestion at toll plazas. It provides real-time traffic data, enabling officials to manage traffic flow efficiently. Alerts are sent when congestion exceeds limits, suggesting lane adjustments. The system analyzes traffic trends over time and factors in weather and local events to predict disruptions. Toll plazas are mapped using GIS technology for better traffic management.

Notes:
India has surpassed China in the MSCI Emerging Markets Investable Market Index (IMI), becoming the largest country by weight for the first time. The MSCI Emerging Markets Investable Market Index (IMI) includes large, mid, and small cap stocks from 24 emerging markets. With 3,355 companies, the IMI covers about 99% of the free float-adjusted market capitalization in these countries.