Current Affairs - July 11, 2024 Current Affairs

Tata Asset Management has introduced India's first tourism index fund, which tracks the Nifty Tourism Index comprising prominent companies from the Nifty 500. This innovative fund aims to capitalize on the growth potential of India's burgeoning tourism sector, expected to reach $406 billion by 2030. Targeting high-growth firms in travel, tourism, and hospitality, Tata's initiative seeks to provide investors with opportunities aligned with the expanding infrastructure and technological advancements in the tourism industry.

REC Limited, a major lender in the power sector, secured a 5-year green loan of 31.96 billion Japanese yen (approximately $200 million) through Deutsche Bank’s Gift City branch. This funding is dedicated to financing environmentally sustainable projects across India. The initiative is part of REC's commitment to advancing green energy finance and sustainable development, aligning with global efforts for environmental responsibility.

Russia has extended an offer to assist India in constructing small nuclear power stations, emphasizing deep localization and transferring construction responsibilities to India. This collaboration expands on their existing partnership in nuclear energy technology, which includes joint efforts at the Kudankulam Nuclear Power Plant and advancements in 4G nuclear technologies. The proposal underscores Russia's commitment to bolstering India's nuclear infrastructure through collaborative initiatives focused on technological transfer and localized construction capabilities.

National Fish Farmer's Day is celebrated annually on July 10th in India to honour the contributions of fish farmers, aquaculture professionals, and stakeholders in the fisheries sector. This day is significant as it commemorates the successful demonstration of induced breeding of Indian Major Carps by Professor Dr. Hiralal Chaudhury and Dr. K. H. Alikunhi on July 10, 1957. The celebration highlights the importance of the fisheries sector in India's economy, emphasizing sustainable practices and advancements in aquaculture.

Rajat Sharma, the Chairman and Editor-in-Chief of India TV, has been unanimously elected as the President of the News Broadcasters & Digital Association (NBDA). This decision was made during the NBDA’s board meeting on July 9, 2024. The NBDA is a major organization representing a wide range of news broadcasters in India. Sharma's election highlights his esteemed position and experience in the journalism field, reflecting a collective confidence in his leadership among India's leading media houses.

UNESCO recently approved the designation of 11 new Biosphere Reserves across 11 countries. This brings the total number of sites in the World Network of Biosphere Reserves to 759, spanning 136 countries. The designation of these reserves is a significant step in global efforts to protect biodiversity and promote sustainable development, highlighting the importance of balancing economic and social development with the conservation of natural and cultural landscapes.

India and Taiwan implemented a Mutual Recognition Agreement (MRA) for Organic Products on July 8, 2024. This agreement allows certified organic products from both countries to enter each other's markets, facilitating trade. The agreement is overseen by India's Agricultural and Processed Food Products Export Development Authority (APEDA) and Taiwan's Agriculture and Food Agency. This MRA enhances the export of Indian organic products like Aromatic and Medicinal Plants, Rice, and Herbal Tea to Taiwan and allows Taiwan’s certified organic products to be imported into India, promoting bilateral trade in organic goods.

The European Space Agency (ESA) was responsible for the successful launch of Europe’s Ariane 6 rocket. This launch marked a significant achievement for European space efforts, restoring independent access to space after a four-year delay. Despite minor setbacks during the launch process, the rocket successfully placed satellites into orbit. The event was celebrated as a historic milestone for Europe, with key figures from ESA and France’s CNES emphasizing the importance of this accomplishment for the continent's space capabilities.

SpaceX is leading the Polaris Dawn mission, which aims to achieve an orbital altitude of 870 miles, marking the highest since the 1970s. This mission is notable for including the first commercial spacewalk and conducting experiments on the effects of space travel on human health. Scheduled to launch from Florida using a Falcon 9 rocket, the mission represents a significant advancement in commercial space exploration capabilities, pushing boundaries and expanding possibilities in modern spaceflight.

The Financial Inclusion Index (FI-Index) measures the extent of financial inclusion in India, with a scale from 0 to 100. In March 2024, the FI-Index rose to 64.2 from 60.1 in March 2023, reflecting overall growth across all sub-indices, especially in usage. This indicates significant progress in financial inclusion, showing that a larger portion of the population is engaging more frequently with financial services. The index's improvement highlights advancements in access, usage, and quality of financial services.

World Population Day is observed annually on July 11th. It was established by the United Nations in 1989 to raise awareness about population issues. The date was chosen to commemorate the day in 1987 when the world’s population reached 5 billion. Since then, it has served as an important platform for addressing topics such as reproductive health, family planning, and sustainable development, influencing policies and public opinion globally.