Daily Current Affairs July 08

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July 08 | Daily Current Affairs 2024

Important Days – Daily Current Affairs July 08

1. When and where will the 2024 Edition of World Kiswahili Language Day be celebrated?
A) 06 July 2024, New York
B) 05 July 2024, UNESCO Headquarters, Paris
C) 07 July 2024, Nairobi
D) 05 July 2024, Addis Ababa
E) 04 July 2024, UNESCO Headquarters, Paris
Answer: B) 05 July 2024, UNESCO Headquarters, Paris

Event and Location:

• Event: World Kiswahili Language Day 2024
• Date: 05 July 2024
• Location: UNESCO Headquarters, Paris
• Theme: “Kiswahili: education and culture of peace”
• Chair: Permanent Delegation of the Democratic Republic of Congo

Mandates and Objectives:

• Improved Knowledge: Promote Kiswahili as a medium for peace and multiculturalism.
• Promotion: Highlight the values, ideas, thoughts, and philosophy of renowned Kiswahili advocates.
• Assessment: Evaluate the availability of Kiswahili language resources and tools for peace promotion.
• Awareness: Increase awareness of Kiswahili’s historical, current, and future international relevance.
• Encouragement: Foster research and socio-cultural activities to enhance multiculturalism through Kiswahili.
• Interest: Boost Kiswahili usage among youth via social media, music, and cultural activities focusing on peace.

Important Terms Explained:

• Kiswahili: A major African language with over 230 million speakers, widely used in sub-Saharan Africa and globally recognized for its cultural and communicative importance.
• UNESCO: United Nations Educational, Scientific and Cultural Organization, the host of the event, focusing on promoting peace and security through international cooperation in education, arts, sciences, and culture.

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Sports – Daily Current Affairs July 08

2. How long had it been since Lewis Hamilton’s last win before his victory at the British Grand Prix?
A) One year
B) Two years, seven months, and two days
C) Six months
D) Three years
E) Four years
Answer: B) Two years, seven months, and two days

Event and Location:

• Event: British Grand Prix 2024
• Location: Silverstone Circuit, United Kingdom
• Winner: Lewis Hamilton

Mandates and Objectives:

• Redemption: Hamilton sought to overcome past challenges and prove his resilience.
• Team Effort: Mercedes’ improvements and strategic changes played a crucial role in the win.
• Emotional Impact: The victory was highly emotional for Hamilton, reflecting on his journey since his last win.
• Continued Improvement: Mercedes is looking forward to further upgrades to maintain competitive performance.

Important Terms Explained:

• British Grand Prix: An annual Formula 1 race held at Silverstone Circuit in the United Kingdom.
• Mercedes: The Formula 1 team backed by Mercedes-Benz, with which Hamilton has won multiple championships.

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Obituary – Daily Current Affairs July 08

3. What was Jon Landau’s role in the production of the “Titanic” film?
A) Director
B) Producer
C) Screenwriter
D) Actor
E) Cinematographer
Answer: B) Producer

Event and Location:

• Event: Death of Jon Landau
• Date: July 5
• Location: Los Angeles

Mandates and Objectives:

• Legacy: Remembered for his impactful contributions to cinema through iconic films.
• Career: Known for producing some of the highest-grossing films of all time.
• Influence: Celebrated for his warmth, visionary approach, and dedication to storytelling and filmmaking.

Important Terms Explained:

• Producer: A producer in film is responsible for overseeing the production process, coordinating tasks, managing budgets, and ensuring the project’s completion.
• Academy Award: Prestigious award in the film industry, also known as an Oscar, given for excellence in cinematic achievements.

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Ranking – Daily Current Affairs July 08

4. Which country leads in the total number of GenAI patents filed from 2014 to 2023?
A) United States
B) Republic of Korea
C) Japan
D) India
E) China
Answer: E) China

Event and Location:

• Event: Ranking of countries by GenAI patents filed
• Date: 8 July 2024
• Location: Worldwide (reported by WIPO)

Mandates and Objectives:

• China’s Leadership: China leads with 38,210 GenAI patents.
• India’s Position: India ranks fifth with 1,350 patents.
• Growth Rate: India records the highest annual growth rate in GenAI patent publications at 56%.

Important Terms Explained:

• GenAI (Generative AI): Technology that generates text, images, or other media in response to prompts.
• Patents: Legal documents granting exclusive rights to an invention.

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Banking and Finance – Daily Current Affairs July 08

5. What is the amount of the deal signed between ADB and AHFL to expand women’s access to housing loans in India?
A) $30 million
B) $60 million
C) $90 million
D) $100 million
E) $120 million
Answer: B) $60 million

Event and Location:

• Event: ADB and AHFL Sign $60 Million Deal
• Date: 25 June 2024
• Location: New Delhi, India

Mandates and Objectives:

• Financial Support: ADB provided $60 million to AHFL to expand housing loans for women.
• Target States: At least half of the funding will be used in Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Odisha, Rajasthan, Uttar Pradesh, and West Bengal.
• Focus on Women: The financing aims to address the challenges women face in accessing housing loans.

Important Terms Explained:

• Nonconvertible Debentures: A type of long-term financial instrument that cannot be converted into equity and typically offers higher interest rates.
• Affordable Housing: Housing that is deemed affordable to those with a median household income as rated by the government.

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Business and Economy – Daily Current Affairs July 08

6. What is the percentage growth in domestic retail advances for Bank of Baroda as on 31 June 2024 compared to the previous year?
A) 5.25%
B) 8.14%
C) 8.51%
D) 20.86%
E) 8.83%
Answer: D) 20.86%

Event and Location:

• Event: Bank of Baroda reports growth in domestic advances and plans to raise capital.
• Date: 31 June 2024
• Location: India

Mandates and Objectives:

• Domestic Advances Growth: 8.51% increase to Rs 8,81,817 crore from Rs 8,12,626 crore.
• Domestic Deposits Growth: 5.25% increase to Rs 11,05,459 crore from Rs 10,50,582 crore.
• Domestic Retail Advances: 20.86% increase to Rs 2,22,495 crore from Rs 1,84,091 crore.
• Global Business Growth: 8.52% increase to Rs 23,77,467 crore from Rs 21,90,896 crore.
• Global Deposits: 8.83% increase to Rs 13,05,821 crore.
• Global Advances: 8.14% increase to Rs 10,71,646 crore.
• Capital Raising: Approval to raise up to Rs 7,500 crore via debt instruments.

Important Terms Explained:

• Tier 1 (AT 1) and Tier II Debt Capital Instruments: Types of regulatory capital that banks must hold as a cushion against losses. AT 1 is high-quality capital and can absorb losses, while Tier II is supplementary capital.
• Domestic Retail Advances: Loans and advances given to individuals for personal, consumption, or housing needs.
• Global Business: The total of domestic and international business activities of the bank.

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Appointments – Daily Current Affairs July 08

7. Who won the Iranian presidential elections after Ebrahim Raisi’s death?
A) Saeed Jalili
B) Ebrahim Raisi
C) Masoud Pezeshkian
D) Hassan Rouhani
E) Ali Khamenei
Answer: C) Masoud Pezeshkian

Event and Location:

• Event: Iranian Presidential Election
• Date: July 6
• Location: Iran
• Winner: Masoud Pezeshkian

Mandates and Objectives:

• Reformist Leadership: Pezeshkian’s win signals a shift towards more pragmatic and moderate policies.
• Foreign Policy Influence: Potential easing of tensions with the West and renewal of nuclear talks.
• Economic Impact: Possible reduction in sanctions could benefit Iran’s trade partners, including India.
• Social Policies: Possible relaxation of the mandatory hijab law.

Important Terms Explained:

• Reformist: A political stance in Iran advocating for gradual change and modernization within the existing political system.
• Nuclear Pact: Refers to the 2015 agreement between Iran and major powers to limit Iran’s nuclear program in exchange for lifting economic sanctions.

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8. Who is the new president of the Financial Action Task Force (FATF) starting July 2024?
A) T. Raja Kumar
B) Manesh Samtani
C) Elisa de Anda Madrazo
D) Suzanne Gaboury
E) Rishi Anand
Answer: C) Elisa de Anda Madrazo

Event and Location:

• Event: Elisa de Anda Madrazo assumes FATF presidency
• Date: 4th July 2024

Mandates and Objectives:

• Term Duration: July 2024 to June 2026
• Core Principles: Inclusiveness, diversity, transparency
• Key Priorities:
  1. Promoting risk-based implementation of FATF Standards
  2. Revamping assessment processes for effectiveness
  3. Strengthening cohesion among FATF members and partners
  4. Implementing revised FATF Standards, focusing on asset recovery, beneficial ownership, and virtual assets
  5. Enhancing understanding of terrorist financing and proliferation risks

Important Terms Explained:

• FATF (Financial Action Task Force): An intergovernmental organization founded to combat money laundering, terrorist financing, and other related threats to the integrity of the international financial system.

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Defence – Daily Current Affairs July 08

9. What is the name of the light tank recently unveiled by DRDO in collaboration with Larsen & Toubro?
A) Bhisma
B) Arjun
C) Zorawar
D) Ajeya
E) PT-76
Answer: C) Zorawar

Event and Location:

• Event: Unveiling of Zorawar Light Tank
• Location: Hazira, Gujarat

Mandates and Objectives:

• Modernization Effort: Propel indigenization and modernization of Indian armed forces.
• Design and Development: Collaboration between DRDO and Larsen & Toubro.
• High-Altitude Operations: Address needs identified during the Galwan Valley standoff with China.
• Tribute: Named after General Zorawar Singh, a renowned General of the Dogra Dynasty.

Key Features of Zorawar Light Tank:

• Engine: Powered by a 750 HP Cummins Engine (to be replaced by a domestically developed engine in future units).
• Armor: Composite modular armor for enhanced protection.
• Weaponry:
  • 105mm rifled cannon-fitted turret by John Cockerill.
  • Paseo Electro-Optical cameras by SAFRAN.
  • Remote-Controlled Weapon System (RCWS) by Bharat Electronics Limited (BEL).
  • Launchers for Anti-Tank Guided Missiles (ATGMs) and Smoke Launchers.
• Additional Systems: Laser Warning Receivers (LWRs), Active Protection System (APS), Counter-Unmanned Aerial Systems (C-UAS).
• Mobility: Amphibious capabilities for crossing rivers and other water bodies.

Development and Deployment:

• Projected Timeline: Development completion by 2027.
• Trials: Multiple trials in the next 12 to 18 months.
• Deployment: High-altitude regions like Ladakh, Sikkim, or Kashmir.
• Quantity: Indian military looking to acquire over 350 light tanks.

Historical Context:

• Previous Tanks: Indian Army currently operates T-90 “Bhisma”, T-72 “Ajeya”, and Arjun main battle tanks.
• Past Light Tanks: Previously operated Russia-made PT-76 Light Tanks, used during the 1971 Indo-Pak war.

Important Terms Explained:

• DRDO: Defence Research & Development Organization, India’s premier agency for defense research and development.
• Larsen & Toubro (L&T): Major Indian multinational involved in engineering, construction, manufacturing, and technology.

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National Affairs – Daily Current Affairs July 08

10. Who declared the mica mines in Jharkhand as ‘Child Labour Free’?
A) Bhuwan Ribhu
B) Priyank Kanoongo
C) Anil Chauhan
D) Audrey Azoulay
E) Debadatta Chand
Answer: B) Priyank Kanoongo

Event and Location:

• Event: Declaration of Jharkhand Mica Mines as ‘Child Labour Free’
• Location: Koderma, Jharkhand

Mandates and Objectives:

• Complete Withdrawal: All child labourers withdrawn from mica mines.
• Education: Enrolled children in schools to ensure continued education.
• Collaboration: Success attributed to the combined efforts of children, communities, civil society organizations, and government bodies.
• Sustained Efforts: Monitoring to continue until 2025 to prevent relapse into child labour.

Important Terms Explained:

• NCPCR (National Commission for Protection of Child Rights): A statutory body under the Commission for Protection of Child Rights Act, 2005, tasked with ensuring that all laws, policies, and programs are in accordance with the Child Rights perspective.
• Child Labour Free Mica Program: An initiative aimed at eradicating child labour from mica mining and ensuring the education and welfare of affected children.

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11. What percentage concession in licensing fees has been announced for women entrepreneurs by Union Minister Piyush Goyal?
A) 50%
B) 60%
C) 70%
D) 80%
E) 90%
Answer: D) 80%

Event and Location:

• Event: Announcement of licensing fee concessions
• Date: 4th July 2024
• Location: New Delhi, India

Mandates and Objectives:

• Licensing Fee Concession:
  • Women Entrepreneurs: 80% concession
  • MSMEs: 50% fee reduction
• Goal: Encourage greater participation and entrepreneurship by women and MSMEs.
• Safety and Compliance: Collaborate with CPCB and MoPNG to establish safety guidelines for petrol pumps near habitations.

Important Terms Explained:

• PESO (Petroleum and Explosives Safety Organisation): A regulatory authority responsible for ensuring the safety and security of hazardous substances like petroleum and explosives in India.
• DPIIT (Department for Promotion of Industry and Internal Trade): A government body that promotes and regulates industrial and trade activities in India.
• MSMEs (Micro, Small, and Medium Enterprises): Businesses whose turnover or investment in plant and machinery/equipment falls under defined limits.

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12. What agreement did the Union Cabinet approve India to sign to conserve marine biological diversity in areas beyond national jurisdiction?
A) Paris Agreement
B) Biodiversity Beyond National Jurisdiction (BBNJ) Agreement
C) Kyoto Protocol
D) Montreal Protocol
E) Convention on Biological Diversity
Answer: B) Biodiversity Beyond National Jurisdiction (BBNJ) Agreement

Event and Location:

• Event: Approval of India signing the BBNJ Agreement
• Date: 02 July 2024
• Location: New Delhi, India

Mandates and Objectives:

• BBNJ Agreement: An international treaty under UNCLOS to protect marine biodiversity in high seas.
• Conservation Efforts: Establish mechanisms for sustainable use of marine biological diversity.
• Strategic Presence: Enhance India’s presence beyond its EEZ.

Important Terms Explained:

• High Seas: Ocean areas beyond national jurisdiction.
• UNCLOS: United Nations Convention on the Law of the Sea, a legal framework for marine and maritime activities.

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13. What collaboration did ICAI and MeitY initiate to enhance corporate oversight in India?
A) Developing a new tax software
B) Creating an AI-powered audit tool
C) Launching a cybersecurity initiative
D) Establishing a new financial regulation
E) Forming a data privacy task force
Answer: B) Creating an AI-powered audit tool

Event and Location:

• Event: ICAI and MeitY collaboration announcement
• Date: 08 July 2024
• Location: New Delhi, India

Mandates and Objectives:

• AI Audit Tool: To track corporate performance and detect fraud.
• Proposal: Sent to MeitY Secretary Krishnan by ICAI President Ranjeet Kumar Agarwal.
• Goal: Enhance transparency and accountability in corporate India.

Important Terms Explained:

• ICAI (Institute of Chartered Accountants of India): A professional body that regulates the profession of Chartered Accountancy in India.
• MeitY (Ministry of Electronics and Information Technology): Government ministry responsible for IT policy and development.

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