Current Affairs - June 18, 2024 Current Affairs

Tarang Shakti-2024 is India's inaugural multinational air exercise, organized by the Indian Air Force (IAF). It aims to enhance cooperation and interoperability between the air forces of participating nations, including Germany and signifies a significant milestone in India's defence diplomacy efforts.

The Summit on Peace in Ukraine, held at the Bürgenstock resort in Switzerland, aimed to address the ongoing Russia-Ukraine conflict. It brought together representatives from numerous countries and organizations to promote peace initiatives and facilitate dialogue towards ending the war. The summit concluded with significant international support for its final joint communiqué, highlighting Switzerland's role as a venue for global peace efforts.

The Chenab Bridge, part of the Udhampur Srinagar Baramulla Rail Link (USBRL) Project, spans the Chenab River gorge in Jammu and Kashmir. It stands as the world's highest steel arch rail bridge, towering over the Chenab River at a height of 359 meters (approximately 1,178 feet), surpassing even the height of the Eiffel Tower. This engineering marvel by Indian Railways is a crucial link that will connect the Kashmir Valley to the national railway network, demonstrating significant progress in infrastructure development despite challenging geology, topography, and weather conditions.

Fitch Ratings has revised India’s GDP growth forecast for the financial year 2024-25 upward to 7.2% from the earlier estimate of 7%. This adjustment is based on anticipated improvements in consumer spending and ongoing investment, albeit at a slower pace than in recent quarters. The revision aligns with the Reserve Bank of India's forecast and contrasts with projections by other institutions like the IMF and ADB, which have set their estimates at 7% for the same period. Fitch's outlook factors in global economic conditions, including recovery in Europe and China's export sector, influence India's economic growth prospects.

The Purvanchal Cooperative Bank, whose licence was revoked by the RBI due to financial instability, was situated in Ghazipur, Uttar Pradesh. The cancellation of its licence was prompted by the bank's inability to maintain adequate capital and sustainable profitability, leading to the initiation of liquidation proceedings overseen by Uttar Pradesh's Cooperative Societies authorities.

Mumbai has been identified in the Mercer 2024 Cost of Living Survey as India’s most expensive city for expatriates, maintaining its position despite economic challenges. The city ranks 136th globally and 21st in Asia, reflecting high costs in transportation, personal care, and other essential living expenses for expatriates living there.

The NISAR (NASA ISRO Synthetic Aperture Radar) satellite mission is a joint initiative between NASA and the Indian Space Research Organisation (ISRO). This collaboration aims to launch a powerful Earth-observing satellite that will utilize synthetic aperture radar technology to monitor and measure various changes on Earth's surface, including ice sheets, glaciers, wetlands, forests, and geological features. The partnership underscores NASA's role in advancing global climate change research and enhancing environmental monitoring capabilities through space-based missions.

The International Day for Countering Hate Speech is observed annually on June 18th to raise awareness about the harmful effects of hate speech and promote strategies to address and counter it. This day emphasizes the role of youth in fostering inclusive societies and combating discrimination online and offline, as recognized and supported by the United Nations and its agencies like UNESCO.

Chinese scientists, using the Chinese H-alpha Solar Explorer (CHASE) satellite, made a breakthrough in solar research by identifying a new pattern of solar atmospheric rotation. Launched by the China National Space Administration (CNSA), the CHASE mission aims to enhance understanding of solar dynamics through spectroscopic observations in the H-alpha waveband, marking a significant achievement in China's space exploration efforts.

Lee Zii Jia from Malaysia clinched the title at the BWF Australian Open 2024 in Sydney on June 16, defeating Naraoka Kodai of Japan in a thrilling final. Lee's victory marked his second title of the season, showcasing his skill and determination in a hard-fought match that lasted an hour and 18 minutes.

Sustainable Gastronomy Day, observed on June 18th annually, highlights the importance of sustainable practices in gastronomy. This day encourages the use of locally sourced, seasonal ingredients and traditional cooking methods that minimize environmental impact. Recognized by the UN, it promotes awareness about the cultural significance of food and its connection to sustainable development goals, urging individuals and communities to embrace eco-friendly culinary practices for a healthier planet.

The Israeli Navy received its second new landing craft, INS Komemiyut, from the United States. This vessel arrived at the Haifa Naval Base on June 16, following in the footsteps of the first craft, INS Nahshon, which was also procured from the US. These acquisitions enhance Israel's naval capabilities and support various operational tasks, including troop transport and humanitarian missions.