Current Affairs - September 26, 2024 Current Affairs

The Indian Army is set to receive its first three AH-64E Apache attack helicopters from Boeing in December, following a delay attributed to supply chain issues. This acquisition is part of a larger deal signed in February 2020, which includes six Apache helicopters at a cost of approximately $800 million. The Apaches will significantly enhance the Army's capabilities, particularly in challenging terrains. Additionally, Indigenous Light Combat Helicopters from Hindustan Aeronautics Ltd. are also being prepared for deployment in Ladakh by 2024-25, further bolstering India's aerial defence strategy.

Dassault Aviation, renowned for its Rafale fighter planes, has expanded its presence in India by establishing Dassault Aviation MRO India (DAMROI), a wholly-owned subsidiary focused on customized MRO services for the Indian Air Force's Rafale and Mirage 2000 fleets. This move aligns with India's strategic objectives, including promoting indigenous capabilities, supporting the "Make in India" initiative, and contributing to the "Skill India" scheme. DAMROI will leverage Dassault's technological expertise and foster local collaboration, enhancing India's aerospace and defence capabilities.

Madhya Pradesh has achieved a significant milestone by conducting India's first entirely paperless election for the post of sarpanch in Ratua Ratanpur. This groundbreaking initiative, spearheaded by the state election commission, aims to eliminate paper usage in the electoral process, enhancing both efficiency and transparency. By embracing digital methods, the state is paving the way for modern electoral practices, making voting more accessible and straightforward for panchayats and urban bodies. This innovation reflects a commitment to leveraging technology in governance and improving the electoral experience for citizens.

Wabtec Locomotive Private Limited, a joint venture between Indian Railways and Wabtec, is set to begin exporting Evolution Series locomotives from its Marhowra plant in Bihar to Africa by 2025. This plant, established in 2018, has already manufactured approximately 650 locomotives and will produce ES43ACmi locomotives featuring a 4,500 HP engine. The joint venture underscores Wabtec's significant presence in India's locomotive manufacturing sector and its expansion into international markets. This development highlights the growing collaboration between Indian Railways and global industry leaders like Wabtec.

World Maritime Day 2024 will be celebrated on September 26, 2024, with the theme “Navigating the Future: Safety First!” This theme highlights the International Maritime Organization’s (IMO) efforts to enhance maritime safety and security, protect the marine environment, and address the impact of technological advancements on the shipping industry. The celebration emphasizes the importance of reducing greenhouse gas emissions from ships while maintaining safety standards, and it promotes regulatory developments that align with the fast-evolving maritime sector.

Air Marshal SP Dharkar, a seasoned fighter pilot with over 3,600 flying hours, has been appointed as the next Vice Chief of Air Staff, succeeding Air Marshal AP Singh. Dharkar has had an illustrious career, serving as the Director General of the Defence Space Agency and commanding frontline fighter squadrons. He has also led the Eastern Air Command for the past two years. His appointment is a significant development in the Indian Air Force's leadership. Dharkar's extensive experience and leadership skills make him well-suited for this critical role.

The ABHED lightweight bulletproof jackets were developed through a collaboration between the Defence Research & Development Organisation (DRDO) and IIT Delhi. This innovative project utilizes advanced materials such as polymers and indigenous boron carbide ceramics to enhance ballistic protection. The development of these jackets represents a significant advancement in personal protective equipment for defence personnel, reflecting a commitment to leveraging indigenous technology and research capabilities. This partnership underscores the vital role of academic institutions in supporting defence initiatives and improving soldier safety.

The 9th edition of the ICC Women's T20 World Cup tournament, initially scheduled to take place in Bangladesh from October 3-20, 2024, has been relocated to the United Arab Emirates. This decision was made to ensure the tournament's successful conduct. The UAE has previously hosted several international cricket events, showcasing its capability to organize high-profile tournaments. The ICC Women's T20 World Cup will feature 10 teams divided into two groups, competing for a total prize money of US$7,958,080, with the winner receiving $2,340,000.

Axis Bank, one of India’s leading private sector banks, teamed up with Mastercard to introduce the MyBiz credit card, aimed at small business owners and sole proprietors. This premium card offers a range of benefits including airport lounge access, travel insurance, and specialized business services. It also provides exclusive experiences through priceless.com, enhancing the cardholder's lifestyle with curated opportunities in culinary arts, sports, and more. This collaboration leverages Axis Bank's market knowledge and Mastercard’s expertise to address the growing needs of small and medium-sized enterprises in India.

The Asian Development Bank (ADB) has retained its forecast for India's GDP growth rate at 7% for FY24, driven by strong performance in agriculture, industry, and services. This growth rate is attributed to the government's fiscal consolidation efforts and resilience amidst global geopolitical challenges. Key growth drivers for FY24 include agricultural improvements, robust performance in the industrial and services sectors, and rural spending. The ADB also forecasts a growth rate of 7.2% for FY25, driven by private investments, urban consumption, and job creation through employment-linked incentives.

Shankh Air, under Shankh Aviation, has been granted a No Objection Certificate by the Civil Aviation Ministry to commence its flight operations. The airline plans to operate Boeing 737-800NG aircraft and will focus on both inter- and intra-state routes, utilizing hubs in Lucknow and Noida. This marks a significant step in expanding air travel options in the region. With leadership from Shankh Air Chairman Sharvan Kumar Vishwakarma and the CEO of Noida Airport Christoph Schnellmann, the airline aims to enhance connectivity and provide efficient travel services.

Bank of Baroda has partnered with EaseMyTrip to launch the Bank of Baroda EaseMyTrip Co-branded Travel Debit Card, the first of its kind by a public sector bank in India. This card offers significant discounts on travel and hotel bookings, complimentary OTT memberships, and e-commerce vouchers, providing substantial savings for frequent travellers and lifestyle enthusiasts. The collaboration reflects the growing trend towards customized financial products and customer-centric innovations. The card's features and benefits aim to redefine the travel and lifestyle experience for Bank of Baroda customers.

The United Nations General Assembly (UNGA) declared September 26 as the International Day for the Total Elimination of Nuclear Weapons through Resolution 68/32 in 2013. This day, also called Nuclear Abolition Day, aims to raise awareness about the threat posed by nuclear weapons and the need for their complete elimination. The date was chosen to mark the incident on September 26, 1983, when a malfunction in the Soviet early warning system almost led to nuclear war, highlighting the grave dangers of these weapons.

SEBI has mandated that individual investors must use UPI to block funds when applying for public debt securities up to ₹5 lakh. This regulation, effective from November 1, 2024, requires investors to include a UPI ID linked to their bank account in their bid-cum-application form. The aim of this directive is to enhance investor protection and improve regulation within the securities market, ensuring a more secure transaction process for participants in public debt offerings.