Current Affairs - October 8, 2024 Current Affairs

The Maldives has taken significant strides in bolstering its relationship with India, marked by the inauguration of a new runway at Hanimadhoo International Airport and the introduction of RuPay cards. These initiatives aim to enhance economic cooperation, facilitate cashless transactions for Indian tourists, and boost tourism cooperation. The airport expansion, funded by an Indian Line of Credit of USD 132 million, underscores India's commitment to supporting the Maldives' infrastructure development. This partnership reinforces the longstanding bonds between the two nations, built on trade and cultural exchanges.

The Bharatiya Kala Mahotsav, an 8-day cultural festival celebrating the rich traditions of Northeast India, concluded in Telangana, specifically in Secunderabad. The event featured over 300 artists and artisans from the eight northeastern states, offering a mix of traditional and modern crafts, art forms, and performances. With more than one lakh visitors attending the festival, the final day saw 20,000 attendees, and all participants were honoured with certificates. This festival served as a platform to showcase the vibrant culture of Northeast India to a wider audience.

Air Marshal SP Dharkar has been appointed as the Vice Chief of the Air Staff, bringing with him a wealth of experience as a distinguished fighter pilot with over 3,600 hours of flying time. His extensive background in aviation and leadership roles within the Indian Air Force is anticipated to enhance the operational readiness and strategic capabilities of the Air Force. He succeeds Air Chief Marshal Amar Preet Singh, who has taken on the role of Chief of Air Staff. Air Marshal Dharkar's experience includes commanding a MiG-27 squadron and flying various fighter jets and trainer aircraft.

The National Workshop on Forest Rights Act and PESA (Panchayats Extension to Scheduled Areas) issues began in Jabalpur and were organized by the Ministry of Panchayati Raj and the Ministry of Tribal Affairs. The event focuses on building capacity for tribal communities, along with District and Sub Division Committees, and Panchayat representatives. It aims to empower tribal communities through effective implementation of the Forest Rights Act and PESA, enhancing local governance and ensuring better administration in tribal regions. The workshop plays a key role in addressing issues related to tribal rights and governance.

The partnership between the International Finance Corporation (IFC) and Axis Bank resulted in a historic $500 million blue loan, representing India's first blue finance initiative. This loan is dedicated to supporting sustainable projects such as water management, marine ecosystem restoration, and green infrastructure development. As a significant climate finance initiative, it highlights the growing importance of blue loans in addressing environmental challenges and promoting sustainable growth in India. Axis Bank's commitment to sustainable lending underlines its role in fostering climate resilience through financial innovation.

Dipa Karmakar, a trailblazing Indian gymnast, has retired after dedicating 25 years to competitive gymnastics. Her remarkable career highlights include securing a historic fourth place at the 2016 Rio Olympics and claiming India's maiden gymnastics gold at the 2018 World Cup. In recognition of her outstanding contributions, Karmakar has received prestigious awards such as the Padma Shri, Arjuna Award, and Major Dhyan Chand Khel Ratna. Her achievements have inspired a generation of gymnasts in India, cementing her legacy in the sport.

The 92nd Indian Air Force Day is set to be commemorated on October 8, 2024. This important event serves to honour the dedication and sacrifices of the air warriors of the Indian Air Force (IAF). It also marks the historical journey of the IAF, which has evolved from modest beginnings to one of the world's leading aerial forces. The celebrations will take place at Marina Beach in Chennai, featuring a spectacular airshow that showcases India's advancements in aviation and aerial capabilities.

The Australian High Commissioner to India, Philip Green, visited Arunachal Pradesh and met with the state's Chief Minister, Pema Khandu, in Itanagar on October 6, 2024. The focus of the visit was to explore ways to equip local youth with world-class skills, enhancing their employability and providing better job opportunities. This collaboration emphasizes Australia's commitment to supporting skill development and training initiatives in the region, strengthening bilateral ties between India and Australia.

HDFC Bank has divested its entire stake in HDFC Education and Development Services Pvt. Ltd (HDFC Edu) to Vama Sundari Investments for ₹192 crore. The transaction, valued at ₹9.60 per share, is part of the bank's strategy to comply with regulatory requirements and streamline operations following the merger with HDFC Ltd. The divestment occurs in two phases, with 91% sold by October 31, 2024, and the remaining 9% by June 30, 2025. This move fulfils the Reserve Bank of India's directive for HDFC Bank to fully divest from HDFC Edu within two years of the merger.

Ajit Vinayak Gupte, a seasoned diplomat from the 1991 batch, has taken on the role of India's Ambassador to Germany. Notably, Gupte served as Ambassador to Denmark from 2017 to 2021 and is currently the Ambassador to Egypt. This appointment highlights Gupte's extensive experience in diplomatic roles. His new position is expected to strengthen India's relations with Germany. Gupte's background and expertise will likely play a crucial role in fostering cooperation between the two nations.

India pledged financial support to the Maldives by extending $400 million and a ₹3,000 crore currency swap to help the country address its financial challenges. This is part of India's "Neighbourhood First" policy, which focuses on strengthening ties with neighbouring countries. Two MoUs were also signed to boost cooperation in combating corruption and capacity-building programs. The launch of the RuPay card in the Maldives further reflects the growing economic collaboration between the two nations.

Sharad Kumar, a retired IPS officer, has taken the reins as the new chief of BCCI's Anti-Corruption Unit, bringing with him decades of law enforcement experience. His impressive background includes serving as Director General of the National Investigation Agency from 2013 to 2017 and Vigilance Commissioner from June 2018 to April 2020. Kumar's expertise in leading high-profile terror investigations and enhancing agency capabilities will undoubtedly bolster BCCI's fight against corruption. His appointment underscores BCCI's commitment to maintaining the integrity of the game.