DAILY CURRENT AFFAIRS

By admin: July 23, 2024

China Unveils World's First Carbon Fiber-Only High-Speed Train

Tags: International News

China has unveiled the world's first carbon fiber-only passenger train, marking a significant advancement in high-speed rail technology.

An Overview of the News

• This innovation positions China as a global leader in sustainable rail transportation.

• The carbon fiber train is significantly lighter than traditional trains, contributing to reduced pollution.

• It is designed to be more energy-efficient, consuming 7% less energy compared to conventional steel trains.

• The train can reach speeds of up to 87 mph.

Environmental Impact

• The new train aligns with broader environmental goals by decreasing energy consumption and lowering overall emissions.

• High-speed rail is already recognized for being environmentally friendly, producing less noise, using less land, and emitting fewer pollutants compared to other forms of long-distance transportation.

Future Plans and Developments

• Qingdao Sifang, the company behind the train, will conduct factory testing before the train's operational launch later this year in a coastal city.

• China's extensive high-speed rail network, covering approximately 28,000 miles, is now fully managed by artificial intelligence, enhancing its efficiency and reliability.

Indian Golfer Vani Kapoor Excels at the Dutch Ladies Open

Tags: Sports

Vani Kapoor excelled at the 2024 Dutch Ladies Open in the Netherlands, finishing tied for 20th place with a score of 2-under 70. 

An Overview of the News

• Her round featured three birdies and a single bogey on the Par-3 10th hole.

• Among the other Indian golfers, Tvesa Malik and Ridhima Dilawari both scored 73, tying for 64th place. 

• Malik's round included two bogeys and one birdie, while Dilawari had two birdies and three bogeys.

Tournament Highlights:

• Swiss golfer Kim Metraux led the tournament with a remarkable 7-under 65. 

• Her round included consecutive birdies on holes two and three, another birdie on the seventh, and a series of birdies on the back nine. 

• She had a bogey on the 17th but finished strongly.

• Three players tied for second place at 6-under: Nobuhle Dlamini from Eswatini, who played bogey-free, Gemma Clews from England, and Laura Funfstuck from Germany.

At Nine, Atiqa Mir Becomes First Female Le Mans Rotax Challenge Winner

Tags: Sports

Atiqa Mir, a nine-year-old racing prodigy, became the first female racer to win a race in the Rotax Challenge International Trophy at the prestigious Le Mans Kart International circuit.

An Overview of the News

• Micro Max Category: Atiqa competed in the Micro Max category and won Race 2 in the Heats.

• Team and Kart: She drove for the championship-winning Dan Holland Racing Team in the Lando Norris kart.

• Adaptation: Despite no prior practice at Le Mans, Atiqa quickly adapted to the new kart, topping practice sessions.

Race 2 Triumph:

• Performance: Demonstrated top pace and maturity with consistent fast lap times and skillful passes to secure first place.

• Competitors: Out of 36 drivers in her category and 318 drivers across all categories, Atiqa's win places her alongside notable drivers like Max Verstappen and Lando Norris.

Final Race:

• Challenges: Faced multiple racing incidents, resulting in a 12th-place finish, 9.497 seconds behind the leader, Joshua Cooke.

Meghalaya Launches 'Hello Meghalaya' OTT Platform

Tags: State News

Meghalaya Chief Minister Conrad K Sangma inaugurated the OTT platform 'Hello Meghalaya' on July 12 in Shillong.

An Overview of the News

• The platform aims to support and promote local filmmakers, content creators, and musicians by providing them with a dedicated space to showcase their work.

Financial Support and Ecosystem Creation

• Creators on the platform will receive financial incentives based on their viewership metrics.

• The initiative seeks to establish an ecosystem where artists can sustain themselves and earn a livelihood.

Local Culture and Collaboration

• The platform will promote the various languages spoken in Meghalaya.

• A collaboration between the Meghalaya Grassroots Music Project (MGMP) and Hard Rock Cafe will feature bands from Meghalaya performing at Hard Rock Cafes across major Indian cities.

• Plans include setting up theatres in various districts for screening local content.

About Meghalaya

• Formation: 21 January 1972

• Before: Part of Assam

• Capital: Shillong

• Bird: Hill myna

• Chief minister: Conrad Sangma

• Governor: Phagu Chauhan

IndusInd Bank Launches 'Wrestle for Glory' to Support Female Wrestlers

Tags: Economy/Finance

IndusInd Bank has introduced the 'Wrestle for Glory' initiative, continuing its collaboration with the Inspire Institute of Sport (IIS) in Vijayanagar, Bellary.

An Overview of the News

• The program aims to empower 50 talented female wrestlers from across India with fully-funded scholarships for coaching at IIS.

CSR Focus

• Inclusivity: The program aligns with IndusInd Bank's CSR commitment to inclusivity and sporting excellence, supporting individuals from diverse backgrounds, including different genders, persons with disabilities, and underprivileged communities.

• Comprehensive Support: Beneficiaries will have access to top-tier training facilities, expert coaching, sports science resources, cutting-edge equipment, nutritional support, and educational assistance.

'IndusInd For Sports' Initiative

• Establishment: The 'Wrestle for Glory' program is part of the 'IndusInd For Sports' initiative, a non-banking sports vertical of the Bank founded in 2016.

• Philosophy: The initiative emphasizes diversity, differentiation, and domination, aiming to excite, educate, and engage stakeholders through sports.

About IndusInd Bank

• IndusInd Bank started in 1994, serving consumer and corporate customers.

• It has around 39 million customers as of March 31, 2024.

• Operates 2,984 branches and 2,956 ATMs across 157,000 villages in India.

• Has representative offices in London, Dubai, and Abu Dhabi.

• Focuses on technology-driven multi-channel delivery.

• Clearing bank for BSE and NSE; settlement bank for NCDEX; empanelled banker for MCX.

  • Founder: S. P. Hinduja

  • Headquarters: Mumbai, Maharashtra, India

• Key Executives:

  • Sumant Kathpalia (MD & CEO)

  • Arun Khurana (Executive Director & Deputy CEO)

  • Gobind Jain (CFO)

RBI Approves KV Subramanian as New MD & CEO of Federal Bank

Tags: Person in news

RBI has approved the appointment of Krishnan Venkat Subramanian as MD & CEO of Federal Bank.

An Overview of the News

• His three-year term will start on September 23, 2024, succeeding Shyam Srinivasan.

• Subramanian was the Joint Managing Director at Kotak Mahindra Bank until April 30, 2024.

• Led divisions such as Corporate Banking, Commercial Banking, Private Banking, and Asset Reconstruction.

Background Of Subramanian

• Holds a degree in Electrical Engineering from IIT Varanasi.

• Earned a postgraduate degree in Financial Management from Jamnalal Bajaj Institute of Management Studies, Mumbai.

• Qualified as a Cost and Works Accountant.

Career Achievements

• Began his career in the NBFC sector with Kotak Mahindra Finance Ltd.

• Has extensive experience in Investment Banking.

• Played a key role in upgrading technological infrastructure and enhancing transaction banking capabilities.

• Oversaw Investment Banking and Institutional Equities, maintaining industry leadership.

Federal Bank Limited:

• It is an Indian private sector bank headquartered in Aluva, Kochi, Kerala.

• The bank operates 1,370 branches in various states of India.

• Federal Bank has representative offices in Abu Dhabi, Qatar, Kuwait, Oman and Dubai.

• The bank provides a wide range of financial services to its customers including retail banking, corporate banking, treasury operations and wealth management.

• It emphasises a customer-centric approach and strives to provide efficient and convenient banking solutions.

  • Founder - K.P Hormis

  • Establishment - 23 April 1931, Nedumpuram

National Mango Day - 22 July 2024

Tags: Important Days

National Mango Day is observed annually on July 22, which falls on a Monday this year.

An Overview of the News

• Mangoes are rich in essential nutrients that boost immunity.

• This day is ideal for exploring and tasting various exotic mango varieties.

• Mangoes have been part of Indian culture for 5000 years, featured in Indian folklore.

• The name "mango" is derived from the Malayan word "manna."

• Mangoes are related to cashews and pistachios, sharing the Anacardiaceae family.

• In 1987, the National Horticulture Board of India declared July 22 as National Mango Day to honor the fruit's taste and health benefits.

Important Days and Themes in July 2024

• International Moon Day (20 July 2024): “Illuminating the Shadows.”

• Nelson Mandela International Day (18 July 2024): "Combating poverty and inequality is in our hands."

• World Youth Skills Day (15 July 2024): "Youth Skills for Peace and Development."

• World Population Day (11 July 2024): "Leave No One Behind, Count Everyone."

• World Kiswahili Language Day (7 July 2024): "Kiswahili: Education and Culture of Peace."

• International Day of Cooperatives (1st Saturday of July): "Cooperatives Building a Better Future for All."

• National Doctors' Day (1 July 2024): "Healing Hands, Caring Hearts."

• National Chartered Accountants Day (1 July 2024): "Innovating for a Sustainable Future."

• GST Day (1 July 2024): "Sashakt Vyapar Samagra Vikas."