DAILY CURRENT AFFAIRS

By admin: May 23, 2024

Airbus and SIDBI partner to promote helicopter financing in India

Tags: Economy/Finance

Airbus Helicopters and Small Industries Development Bank of India (SIDBI) have entered into a Memorandum of Understanding (MoU) aimed at financing helicopter purchases in India.

An Overview of the News

• The MoU entails Airbus Helicopters and SIDBI jointly identifying potential civil helicopter operators in India interested in financing solutions for purchasing helicopters.

• Airbus will contribute technical expertise and knowledge of the helicopter industry, while SIDBI will evaluate prospects and provide financing exclusively for Airbus.

• Rahul Priyadarshi, Chief General Manager at SIDBI, views this collaboration as a new avenue for financing MSMEs in the helicopter segment, marking SIDBI's entry into helicopter financing.

• Sunny Guglani, Head of Airbus Helicopters, India and South Asia, sees this partnership as a significant step towards making civil helicopters more accessible in India, emphasizing their role in nation-building.

• This collaboration signifies SIDBI's expansion into helicopter financing, addressing the financial and developmental needs of India's rotary wing sector.

About SIDBI

• It is the top authority governing the licensing and regulation of finance firms focused on MSMEs in India.

• Chairman & Managing Director-  Sivasubramanian Ramann

• Formed - 2 April 1990

• Headquarters - Lucknow, Uttar Pradesh

Spain Joins International Solar Alliance as 99th Member

Tags: International News

Spain becomes the 99th member of the International Solar Alliance (ISA), marking its commitment to solar energy initiatives.

An Overview of the News

• Spain handed over the International Solar Alliance Instrument of Ratification during a meeting in New Delhi.

• The ratification was completed by Ambassador José María Ridao Domínguez of Spain and the Head of Depository, Joint Secretary Abhishek Singh of the External Affairs Ministry.

ISA's Objectives:

• The International Solar Alliance (ISA) serves as a collaborative platform to boost the deployment of solar energy technologies.

• Its primary goals include enhancing energy access, ensuring energy security, and driving energy transition in member countries.

Origin of ISA:

• The ISA originated as a joint initiative by India and France to combat climate change by promoting solar energy solutions.

• It was conceptualized during the 21st Conference of Parties (COP21) to the United Nations Framework Convention on Climate Change held in Paris in 2015.

About Spain

• King - Felipe VI of Spain

• Prime Minister - Pedro Sánchez

• Capital - Madrid

• Official language - Spanish

Sachin Sarjerao Khilari Grabs Shot Put Gold at World Para Athletics Championship

Tags: Sports

Sachin Sarjerao Khilari, representing India, clinched the gold medal in the men’s shot put event at the World Para Athletics Championship in Kobe, Japan.

An Overview of the News

• Khilari achieved a remarkable feat by setting a new Asian record in the F46 category with a throw of 16.30 meters.

Bronze Medal Success for Dharambir

• Dharambir, another Indian athlete, secured the Bronze Medal in the Men’s Club Throw event.

• His final throw measured 33.31 meters, a distance that not only earned him the Bronze Medal but also established a new Asian Record in the F51 Category.

Other Indian Medal Winners

• Deepti Jeevanji won her first gold medal in the women's 400m T20 event.

• Ekta Bhyan of India clinched the gold medal in the women's F51 club throw competition at the World Para Athletic Championships in Kobe, Japan. Bhyan achieved her victory with a season's best throw of 20.12 meters.

  Kashish Lakra, also from India, secured the silver medal with a throw measuring 14.56 meters.

• Yogesh Kathuniya achieved a season's best mark of 41.80 meters, earning silver in the Men’s Discus Throw F56 Final.

• Preethi Pal secured a bronze medal in the Women’s 200m T35 final.

• Nishad Kumar grabbed silver in Men’s High Jump T47 with a season-best jump of 1.99 meters.

Record-breaking Medal Tally for India

• India's exceptional performances have propelled the nation beyond its previous highest total of 10 medals.

• The Indian contingent now boasts an impressive tally of 12 medals, comprising 5 gold, 4 silver, and 3 bronze medals.

China Leads Points Table

• China remains at the top of the points table with a total of 48 medals.

World Para Athletics Championship:

• The 11th World Para Athletics Championship is underway in Kobe, Japan, spanning from May 17 to May 25, 2024.

• More than a thousand athletes from over one hundred nations are participating, contesting in 168 medal events, consisting of 92 male, 75 female, and one mixed event.

• The championship is hosted at the Kobe Universiade Memorial Stadium.

• This marks the inaugural occasion of the World Para Athletics Championships taking place in East Asia.

• Notably, this is the third instance of the World Para Athletics Championships occurring in Asia, with previous editions held in Doha, Qatar, in 2015, and Dubai, United Arab Emirates, in 2019.

Sanjay Murthy launches portal for National Awards to Teachers (Higher Education) 2024

Tags: Awards

Secretary of Higher Education, Sanjay Murthy, inaugurates the portal for nominations for National Awards to Teachers (Higher Education) 2024.

An Overview of the News

• The awards target teachers from both technical and non-technical higher education institutions as well as Polytechnic Institutions.

Date of Award Ceremony

• Selected awardees will be honored on 5th September, Teachers’ Day, commemorating the Birth Anniversary of former President Dr. Sarvepalli Radhakrishnan.

Eligibility Criteria

• The award is open to all faculty members of colleges, universities, higher educational institutions, and polytechnics.

• Nominees must have at least five years of full-time teaching experience at the Undergraduate and Post-graduate level.

Nomination Deadline

• The deadline for submitting nominations is June 20th.

Inception of National Awards to Teachers

• Established in 1958 to honor excellence and dedication of teachers in molding youth.

• September 5th chosen as the fixed date for the awards ceremony to coincide with Dr. Sarvepalli Radhakrishnan's birthday, a former President of India.

• Aimed to publicly acknowledge outstanding teachers in elementary and secondary schools.

Recognition and Prestige

• Rationalization of awards reinstated the prestige of the accolades, fostering greater reverence for the selection process.

• Introduction of one-minute documentary films since 2018 showcasing the exemplary work of each awardee, capturing innovative educational activities.

• The 2022 awards ceremony saw 45 Awardees honored by the Hon’ble President of India on September 5th at Vigyan Bhawan, New Delhi.

• Documentary films on each awardee were broadcasted during the live telecast of the event on Doordarshan.

India-UK Hold 16th Counter-Terrorism Meeting in New Delhi

Tags: International Relations

The 16th meeting of the India-United Kingdom Joint Working Group on Counter-Terrorism took place in New Delhi.

An Overview of the News

• The Indian delegation was led by K.D Dewal, Joint Secretary for Counter-Terrorism in the Ministry of External Affairs.

• The UK delegation was led by Chris Felton, Head of the Counter Terrorism Network for Asia and Oceania, Government of the United Kingdom.

• Discussions centered around ongoing counter-terrorism cooperation between India and the UK.

• Both nations emphasized the importance of strengthening international cooperation to combat terrorism comprehensively and sustainably.

• The External Affairs Ministry stated that both sides shared their assessments of terrorist and extremist threats in their respective territories and regions.

• Discussions included threats posed by globally sanctioned terrorist entities and individuals.

United Kingdom:

• It includes England, Scotland, Wales and Northern Ireland.

• It is an island nation located in northwestern Europe.

• Capital and largest city - London

• Prime Minister - Rishi Sunak

POWERGRID Receives Third-Time ATD Best Award 2024 for Excellence in Learning & Development

Tags: Awards

POWERGRID, a Maharatna Central Public Sector Enterprise under the Ministry of Power, Government of India, has been awarded the prestigious ATD BEST Awards 2024.

An Overview of the News

• This is the third time POWERGRID has received the ATD BEST Award, with previous recognitions in 2021 and 2023.

• The award highlights POWERGRID’s innovative use of technologies like artificial intelligence and machine learning.

• These technologies are used for efficient maintenance of power transmission networks and successful execution of large-scale projects.

Award Ceremony:

• The award was received by Director (Personnel) Dr. Yatindra Dwivedi and CGM (HRD) Bipin Kishor Mundu.

• The ceremony was held in New Orleans, Louisiana, USA.

Significance of ATD BEST Awards:

• The ATD BEST Awards are established by the Association for Talent Development (ATD), USA.

• These awards are among the most esteemed international recognitions in the field of Learning and Development (L&D).

Ramesh Babu V. Appointed as Member of CERC

Tags: Person in news

Ramesh Babu V. has been appointed as a Member of the Central Electricity Regulatory Commission (CERC).

An Overview of the News

• Ramesh Babu V. took the oath of office and secrecy on May 21, 2024.

• The oath was administered by the Union Minister for Power and New & Renewable Energy, R. K. Singh.

Educational Background:

• Ramesh Babu V. holds an M. Tech degree in Thermal Engineering.

• He also holds a B. Tech degree in Mechanical Engineering.

Professional Experience:

• Prior to his appointment, he was the Director (Operations) at NTPC from May 2020 until his retirement.

• He has held various positions at NTPC during his career.

About CERC:

• The Central Electricity Regulatory Commission (CERC) was established under the Electricity Regulatory Commissions Act, 1998.

• CERC serves as the Central Commission under the Electricity Act, 2003, which repealed the ERC Act, 1998.

• The Commission consists of a Chairperson and three other Members.

• The Chairperson of the Central Electricity Authority is an ex-officio Member of the Commission.

Functions of CERC under the Electricity Act, 2003:

• Regulate tariffs for Central Government-owned and composite scheme generating companies.

• Oversee inter-State transmission and determine tariffs.

• Issue licenses for inter-state transmission and trading.

• Adjudicate disputes.

• Advise the Central Government on National Electricity and Tariff Policies.

• Promote competition, efficiency, economy, and investment in the electricity industry.