Current Affairs - September 11, 2024 Current Affairs

The Indian Institute of Foreign Trade (IIFT) achieved the No. 1 ranking globally for Networking in LinkedIn's Global MBA Ranking 2024. This accomplishment highlights IIFT's strong global connections, academic excellence, and research. Additionally, it secured the 51st position among the top 100 MBA programs globally, underlining the institution's dedication to building strategic partnerships with alumni, corporations, and international organizations.

China announced the "Northern United-2024" joint drills with Russia, focusing on naval and air operations in the Sea of Japan and the Sea of Okhotsk. The aim of the exercises is to enhance strategic cooperation and improve both countries' capabilities to address security challenges. This marks the fifth joint naval cruise between China and Russia in the Pacific, also involving Russia's “Great Ocean-24” exercise. These drills underscore the growing military partnership between China and Russia amidst increasing global security tensions.

The International Monetary Fund (IMF) has revised India's GDP growth forecast for FY2024-25 to 7%, an increase from the previous estimate of 6.8%. This upward revision is attributed to stronger private consumption, especially in rural areas. India's economy is expected to remain robust, solidifying its position as one of the fastest-growing major economies globally, with projected growth continuing into FY2025-26.

Rajesh Verma, a 1987-batch IAS officer from the Odisha cadre, has been appointed as the Chairperson of the Commission for Air Quality Management (CAQM) for the National Capital Region (NCR) for a three-year term. With over 35 years of experience in public administration and governance, Verma has previously served in key roles, including positions at the Ministry of Corporate Affairs and the Ministry of Agriculture & Farmers Welfare. His extensive expertise in air pollution management makes him a crucial figure in addressing air quality issues in the NCR.

Union Bank of India has become the first major Indian bank to join the Partnership for Carbon Accounting Financials (PCAF), a global initiative that provides a standardized framework for assessing and disclosing greenhouse gas emissions linked to financial services. This move aligns with the Reserve Bank of India's (RBI) draft guidelines on climate risk disclosures, highlighting the bank's commitment to tracking and managing financed emissions. By joining PCAF, the Union Bank of India will take a significant step towards promoting sustainable finance and reducing its carbon footprint.

Syria triumphed in the 4th Intercontinental Cup Football Championship, defeating defending champions India with a dominant 3-0 score in the final round-robin match. Held at the GMC Balayogi Gachibowli Stadium in Hyderabad, the tournament showcased Syria's strong performance, with key goals from Mahmoud Al-Aswad, Daleho Irandust, and Pablo Sabbag. The championship, organized by the All India Football Federation (AIFF), featured three teams: India, Syria, and Mauritius, competing in a round-robin format.

Switzerland secured the top spot in the Best Countries Ranking 2024 by US News & World Report for the third consecutive year, standing out in areas such as quality of life and business openness. The ranking assesses 89 countries across 10 factors, including attributes like adventure, social purpose, and heritage. India, while excelling in the 'movers' and 'heritage' categories, ranked 33rd overall, reflecting a balanced yet competitive international landscape.

India hosted the 2nd Asia Pacific Ministerial Conference on Civil Aviation in New Delhi from September 11-12, 2024, with participation from around 250 representatives across 41 countries. The conference focused on crucial issues such as air safety, airspace optimization, cyber security, and the goal of achieving net zero emissions. India’s aviation sector has witnessed rapid growth in recent years, with the number of aircraft doubling to over 800 and the number of airports increasing from 74 to 157 in the last decade.

Hashika Ramachandra set a new national record in the 400m women's freestyle at the 77th Senior National Aquatic Championships. She broke her own previous record of 4:25.76, finishing with a time of 4:24.70. This achievement highlights her exceptional performance and sets a new benchmark in the event. The record-setting swim underlines Karnataka's strong presence in national swimming competitions.

Australia, under the leadership of Prime Minister Anthony Albanese, is planning to enact legislation to ban social media access for children under 16. This initiative is aimed at safeguarding both the physical and mental health of young people, addressing issues like cyberbullying and exposure to harmful content. The government will start age verification trials soon and anticipates facing resistance from tech companies. This move reflects growing global concerns over the impact of social media on youth well-being.

RS Sharma has been appointed as the Non-Executive Chairperson of the Open Network for Digital Commerce (ONDC). Known for his extensive experience in digital transformation, including his roles at UIDAI, TRAI, and as CEO of the National Health Authority, Sharma’s leadership is anticipated to drive ONDC’s growth and innovation. His previous contributions, such as leading the CoWin project for the COVID-19 vaccination campaign, underscore his capability to guide ONDC into its next phase of development.

Oben Electric, an emerging player in the electric vehicle market, is introducing four new electric two-wheelers priced between Rs 60,000 to Rs 1.5 lakh. This strategy aims to capture 70% of the untapped market in India. The new bikes feature LFP (Lithium Iron Phosphate) batteries, known for their durability in varying weather conditions. Additionally, Oben Electric plans to expand its footprint with over 60 showrooms by the end of the year, further supporting the growth of the electric vehicle sector.

Ashok Raj Sigdel was sworn in as the 45th Chief of the Army Staff (CoAS) of Nepal. The oath-taking ceremony took place at the Office of the President, Sheetal Niwas, with key figures in attendance, including President Ranchandra Paudel, Prime Minister KP Sharma Oli, and Chief Justice Bishowambhar Prasad Shrestha. Sigdel's appointment is significant for Nepal's military leadership, and his tenure will be closely observed for strategic defence and security initiatives.