Daily Current Affairs July 16

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July 16 | Daily Current Affairs 2024

Sports – Daily Current Affairs July 16

1. Which German football legend recently announced his retirement from international football after the European Championship exit?
A) Mesut Ozil
B) Thomas Muller
C) Miroslav Klose
D) Bastian Schweinsteiger
E) Philipp Lahm
Answer: B) Thomas Muller

Event and Location:

• Event: Thomas Muller retires from international football
• Location: Germany

Mandates and Objectives:

• Announcement Date: July 5, 2024
• Objective: To end his 14-year international career following Germany’s European Championship exit

Important Terms Explained:

• European Championship: A major football tournament for national teams in Europe, organized by UEFA.
• Golden Boot: An award given to the top goalscorer in a football tournament.
• Young Player Award: An award given to the best young player in a football tournament.

Detailed Explanation:

• Thomas Muller:
  • Helped Germany win the 2014 World Cup.
  • Third most appearances for the national team with 131 caps and 45 goals.
  • Won the Golden Boot and Young Player Award in the 2010 World Cup.
• Final Tournament: Participated in his last tournament on July 5, 2024, in Germany’s 2-1 quarter-final defeat by Spain at the European Championship.
• Career Highlights:
  • Made first international appearance 14 years ago.
  • Notable for his contributions and character both at Bayern Munich and the national team.
  • Praised by German national team chief Rudi Voeller for his exemplary character and top striking abilities.

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Banking and Finance – Daily Current Affairs July 16

2. What is the interest rate offered by SBI on its newly launched 444-day term deposit scheme “Amrit Vrishti”?
A) 6.75%
B) 7.00%
C) 7.25%
D) 7.50%
E) 7.75%
Answer: C) 7.25%

Event and Location:

• Event: SBI launches Amrit Vrishti 444-day term deposit scheme
• Location: India

Mandates and Objectives:

• Announcement Date: Effective from July 15, 2024
• Objective: To offer a higher interest rate to attract depositors and meet diverse customer needs

Important Terms Explained:

• Term Deposit: A bank deposit held for a fixed term with a fixed interest rate.
• Interest Rate: The percentage at which interest is paid by a borrower for the use of money.
• Senior Citizen: Typically, a person aged 60 or above, eligible for additional benefits such as higher interest rates.

Detailed Explanation:

• Scheme Details:
  • Name: Amrit Vrishti
  • Tenor: 444 days
  • Interest Rate: 7.25%
  • Effective Date: July 15, 2024
  • Additional Interest for Senior Citizens: 0.50% (making it 7.75%)
• Eligibility:
  • Available to both domestic and non-resident Indian (NRI) customers.
• Investment Channels:
  • SBI branches, YONO SBI and YONO Lite (mobile banking apps), and SBI internet banking (INB).
• Availability: Scheme open for investment until March 31, 2025.
• Comparison with Previous Scheme:
  • Previous scheme “Amrit Kalash” had a 400-day tenor and offered 7.10% interest.
• Current Context:
  • SBI’s highest interest rate on a retail domestic term deposit (below ₹3 crore) is 7% for a 2-3 year maturity bucket.
  • Aim is to attract depositors as deposit growth lags behind credit growth.

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Business and Economy – Daily Current Affairs July 16

3. What growth rate has the IMF predicted for India in FY25?
A) 6.5%
B) 6.7%
C) 7.0%
D) 7.2%
E) 7.5%
Answer: C) 7.0%

Event and Location:

• Event: IMF predicts 7% growth for India in FY25
• Location: New Delhi, India

Mandates and Objectives:

• Announcement Date: July 16, 2024
• Objective: To provide an updated economic growth forecast for India

Important Terms Explained:

• IMF: International Monetary Fund, an international organization that aims to promote global economic growth and financial stability.
• Fiscal Year (FY): A one-year period that governments use for accounting and budget purposes. In India, it runs from April 1 to March 31.
• Basis Points (bps): A unit of measure used in finance to describe the percentage change in the value of financial instruments; 1 basis point is equal to 0.01%.

Detailed Explanation:

• Growth Prediction:
  • IMF has revised India’s growth forecast for FY25 to 7%, up by 20 basis points.
  • The revision reflects stronger economic activity in Asia, particularly in China and India.
• Comparative Forecasts:
  • IMF’s prediction of 7% growth is higher than the World Bank’s projection.
  • It is lower than the Reserve Bank of India’s estimate.
• Economic Factors:
  • The growth forecast is driven by strong rural consumption and overall economic activity.

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Appointments – Daily Current Affairs July 16

4. Who has been appointed as the Head of Distribution at Kotak Mahindra Bank as part of its new distribution structure?
A) Ashok Vaswani
B) Uday Kotak
C) Pranav Mishra
D) Shikha Sharma
E) Aditya Puri
Answer: C) Pranav Mishra

Event and Location:

• Event: Kotak Mahindra Bank integrates physical and digital branches in new distribution structure
• Location: India

Mandates and Objectives:

• Objective: To deliver an omnichannel seamless experience for customers across all group products and services

Important Terms Explained:

• Omnichannel: A multichannel approach to sales that seeks to provide customers with a seamless shopping experience, whether they are shopping online, by telephone, or in a brick-and-mortar store.
• Digital Branch Channel: Includes mobile banking and net banking platforms.

Detailed Explanation:

• New Distribution Structure:
  • Integrates physical branches, digital branch channels (mobile banking and net banking), and voice channels.
  • Aims to provide a seamless customer experience across all interaction channels.
  • Focuses on building synergy and improving service delivery.
• Key Appointment:
  • Pranav Mishra appointed as the Head of Distribution.
  • Mishra joins from ICICI Bank, where he served as Head of Liabilities, Deposit, Customer 360, Branch Banking, Marketing & Alliances, ATM, and Micro Market Strategy.
  • Previously headed distribution for ICICI Prudential Life Insurance.
• Statements:
  • Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, emphasized the importance of embedding banking services seamlessly into customer journeys for convenience and reliability.

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Science and Technology – Daily Current Affairs July 16

5. Which organization has UPL University partnered with for R&D in chemical sciences?
A) Bhabha Atomic Research Centre (BARC)
B) Defence Research and Development Organisation (DRDO)
C) Indian Space Research Organisation (ISRO)
D) Council of Scientific and Industrial Research (CSIR)
E) Indian Institute of Science (IISc)
Answer: C) Indian Space Research Organisation (ISRO)

Event and Location:

• Event: UPL University partners with ISRO for R&D in chemical sciences
• Location: India

Mandates and Objectives:

• Objective: To advance research and innovation in chemical sciences

Important Terms Explained:

• UPL University of Sustainable Technology: An educational initiative by the UPL Group focusing on sustainable technology and research.
• ISRO (Indian Space Research Organisation): The space agency of the Government of India, headquartered in Bengaluru, responsible for space research and exploration.
• MoU (Memorandum of Understanding): A formal agreement between two or more parties to establish official partnerships.

Detailed Explanation:

• Partnership Details:
  • UPL University of Sustainable Technology and the Space Application Centre (SAC) of ISRO signed an MoU.
  • The partnership aims to foster research and innovation in chemical sciences.
• Significance:
  • Enhances collaboration between academia and a premier space research organization.
  • Focuses on sustainable and advanced technological solutions in chemical sciences.
• UPL Group: A leading global provider of sustainable agriculture products and solutions.

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Defence – Daily Current Affairs July 16

6. Which organization has GRSE signed a contract with for the delivery of an ocean research vessel worth ₹840 crore?
A) Indian Navy
B) Indian Space Research Organisation (ISRO)
C) National Centre for Polar and Ocean Research (NCPOR)
D) Ministry of Defence
E) Defence Research and Development Organisation (DRDO)
Answer: C) National Centre for Polar and Ocean Research (NCPOR)

Event and Location:

• Event: GRSE signs a contract for the delivery of an ocean research vessel
• Location: New Delhi, India

Mandates and Objectives:

• Announcement Date: July 16, 2024
• Objective: To deliver an ocean research vessel for the National Centre for Polar and Ocean Research (NCPOR)

Important Terms Explained:

• GRSE (Garden Reach Shipbuilders and Engineers Ltd): A Kolkata-based defence public sector undertaking specializing in shipbuilding.
• NCPOR (National Centre for Polar and Ocean Research): An Indian government agency under the Ministry of Earth Sciences responsible for polar and ocean research.

Detailed Explanation:

• Contract Details:
  • GRSE signed a contract with NCPOR, Ministry of Earth Sciences, for the delivery of an ocean research vessel (ORV).
  • The contract value is ₹840 crore.
• Significance:
  • The ocean research vessel will support polar and oceanographic research.
  • Enhances India’s capabilities in marine and polar research.
• GRSE’s Role:
  • A renowned shipbuilder with expertise in delivering complex vessels for defence and research purposes.

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International Affairs – Daily Current Affairs July 16

7. Which city has launched the trial operation of the world’s first 3D-printed electric abra?
A) Abu Dhabi
B) Dubai
C) Tokyo
D) New York
E) Singapore
Answer: B) Dubai

Event and Location:

• Event: Trial operation of the world’s first 3D-printed electric abra
• Location: Dubai, United Arab Emirates

Mandates and Objectives:

• Objective: To support the Dubai 3D Printing Strategy by reducing manufacturing time, costs, and enhancing environmental sustainability in marine transport

Important Terms Explained:

• Abra: A traditional half-boat, half-raft used to transfer people across water bodies, particularly in Dubai Creek.
• 3D Printing: An advanced manufacturing process that creates a physical object from a digital design by layering material.

Detailed Explanation:

• Electric Abra Specifications:
  • Accommodates 20 passengers.
  • Measures eleven meters in length and 3.1 meters in width.
  • Powered by an electric propulsion system with two 10-kilowatt motors and lithium batteries.
• Benefits of 3D Printing:
  • Shortens manufacturing time of abras by 90%.
  • Reduces manufacturing and operating costs by 30%.
• Operational Details:
  • Trial conducted at Sheikh Zayed Road Marine Transport Station on Line (TR6).
  • Performance to be monitored and compared with existing fiberglass abras.
• Manufacturers:
  • Al Seer Marine Company, Abu Dhabi, in cooperation with Mitsubishi, Siemens, Torqeedo, and Tasneef.
• Future Developments:
  • RTA developing heritage abra stations in Dubai Creek used by over 14 million passengers annually.
  • Development includes four stations with completion expected by August 2025.

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8. When will the second Asia Pacific ministerial conference on civil aviation be held in India?
A) September 9-10
B) September 11-12
C) September 13-14
D) September 15-16
E) September 17-18
Answer: B) September 11-12

Event and Location:

• Event: Second Asia Pacific ministerial conference on civil aviation
• Location: New Delhi, India

Mandates and Objectives:

• Announcement Date: Conference to be held on September 11 and 12
• Objective: To discuss and enhance civil aviation in the Asia Pacific region, focusing on sustainability, accessibility, and affordability

Important Terms Explained:

• International Civil Aviation Organization (ICAO): A specialized agency of the United Nations that coordinates and regulates international air travel.
• Asia Pacific Ministerial Conference on Civil Aviation: A conference aimed at discussing the growth and development of civil aviation in the Asia Pacific region.

Detailed Explanation:

• Event Details:
  • Hosted by India in collaboration with ICAO APAC.
  • Scheduled for September 11 and 12, 2024, in New Delhi.
• Participation:
  • Representatives from around 40 countries, including Australia, Singapore, France, the US, the UK, China, Vietnam, Indonesia, DPR Korea, Pakistan, and Japan.
• Conference Focus:
  • Emphasizing sustainability in aviation growth.
  • Making aviation more accessible and affordable.
• India’s Aviation Growth:
  • Fastest-growing aviation market in the world.
  • Annual passenger traffic projected to reach 250 million.
  • Increase in the number of aircraft from 400 to more than 800.
  • Growth in airports from 74 to 157 in the last decade.

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9. Where did the global conference on space research kick off recently?
A) Tokyo
B) Seoul
C) Busan
D) Beijing
E) Singapore
Answer: C) Busan

Event and Location:

• Event: Global Conference on Space Research
• Location: Busan, South Korea

Mandates and Objectives:

• Objective: To foster international scientific research in space

Important Terms Explained:

• Korea Aero Space Administration (KASA): The national space agency of South Korea responsible for space exploration and research.
• Committee on Space Research (COSPAR): An international scientific organization that promotes and facilitates international collaboration in space research.

Detailed Explanation:

• Event Details:
  • The 45th Scientific Assembly of the Committee on Space Research began in Busan, South Korea.
  • Attended by about 3,000 space scientists and industry officials from 60 nations.
  • First time South Korea is hosting this biennial global conference.
• Conference Objectives:
  • To promote international scientific collaboration in space research.
  • To discuss advancements, challenges, and future directions in space exploration and research.

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10. How much has India contributed as the first tranche to the United Nations Relief and Works Agency (UNRWA) for the year 2024-2025?
A) $1 million
B) $2 million
C) $2.5 million
D) $3 million
E) $5 million
Answer: C) $2.5 million

Event and Location:

• Event: India releases the first tranche of $2.5 million to the UNRWA
• Location: New Delhi, India

Mandates and Objectives:

• Objective: To support the United Nations Relief and Works Agency (UNRWA) for Palestine Refugees

Important Terms Explained:

• UNRWA: United Nations Relief and Works Agency for Palestine Refugees in the Near East, which provides assistance and protection to Palestinian refugees.
• Nakba: Refers to the 1948 Palestinian exodus during the Israeli War of Independence when many Palestinians were displaced.

Detailed Explanation:

• India’s Contribution:
  • India released the first tranche of USD 2.5 million out of a total annual contribution of USD 5 million for the year 2024-2025.
  • India also pledged additional support in the form of medicines.
• Significance of Contribution:
  • Helps UNRWA in its mission to provide services to over 6 million Palestinian refugees across five areas of operation: Gaza Strip, West Bank, Jordan, Syria, and Lebanon.
  • Important for preserving the rights and services for Palestinian refugees.
• Palestinian Embassy’s Response:
  • Expressed sincere thanks and appreciation to the Indian government.
  • Highlighted the importance of India’s support amid ongoing challenges, including the Israeli government’s actions against UNRWA and the Israeli war on Gaza.
• Importance of UNRWA:
  • Provides vital services and is linked to the preservation of Palestinian refugees’ rights and their hope to return to their homes.

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National Affairs – Daily Current Affairs July 19

11. Who inaugurated the PM College of Excellence in Madhya Pradesh’s 55 districts?
A) Narendra Modi
B) Shivraj Singh Chouhan
C) Amit Shah
D) Mohan Yadav
E) Inder Singh Parmar
Answer: C) Amit Shah

Event and Location:

• Event: Inauguration of PM College of Excellence in Madhya Pradesh
• Location: Bhopal, Madhya Pradesh

Mandates and Objectives:

• Objective: To start colleges that align with the New Education Policy (NEP) aiming to make education employment-oriented

Important Terms Explained:

• New Education Policy (NEP): A framework introduced to revamp the Indian education system, aiming to make it more employment-oriented and globally competitive.
• PM College of Excellence: Special colleges developed to enhance educational quality and standards in line with the NEP.

Detailed Explanation:

• Event Details:
  • Union Home Minister Amit Shah virtually inaugurated the PM College of Excellence across 55 districts in Madhya Pradesh.
  • The main program was held at Atal Bihari Vajpayee Government Arts and Commerce College in Indore.
• Significance of NEP:
  • Aims to make India a developed country by 2047 by strengthening the foundation of education.
  • Focuses on quality education and encouraging students to think out of the box.
  • Aligns with international standards while preserving Indian culture.
• State Implementation:
  • Madhya Pradesh was the first state to implement NEP.
  • The establishment of the PM College of Excellence was decided in the first cabinet meeting under CM Mohan Yadav.
  • The initiative includes 55 colleges with an estimated cost of Rs 486 crore.
  • Introduction of medical and engineering courses in Hindi for students’ benefit.

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12. Which Indian state’s cabinet recently approved a plan to rationalise provisions of zero electricity bills for domestic users?
A) Uttarakhand
B) Himachal Pradesh
C) Punjab
D) Haryana
E) Rajasthan
Answer: B) Himachal Pradesh

Event and Location:

• Event: Himachal Pradesh Cabinet approves rationalisation of zero electricity bill provisions for domestic users
• Location: Himachal Pradesh

Mandates and Objectives:

• Objective: To streamline and rationalise the provisions for zero electricity bills, ensuring the subsidy is limited to ‘one family, one meter’ and linking power connections with ration cards

Important Terms Explained:

• Zero Electricity Bills: A policy where domestic consumers do not pay for their electricity usage up to a certain limit.
• Subsidy: Financial aid provided by the government to help reduce the cost of electricity bills for consumers.

Detailed Explanation:

• New Policy Details:
  • The subsidy will be restricted to ‘one family, one meter’.
  • Power connections will be interlinked with ration cards to prevent misuse.
• Subsidy Abolished For:
  • Chief Minister, former CMs, speakers, deputy speakers, ministers, MPs, MLAs, former ministers, chairman of boards, advisors, OSDs, all Class-I and Class-2 employees of the government, corporations, boards, including IAS, IPS, other officers, and all income taxpayers.
• Electricity Bill Provision:
  • Previously, electricity bills for up to 125 units per month were free.
• Land Acquisition:
  • Approved for families affected by Kangra airport expansion.
• Bulk Drug Park:
  • State share of capital costs approved for its construction in Haroli Assembly constituency, Una district.
• Shimla Development Plan:
  • Additional areas included under the green area ambit.
• Education Sector Approvals:
  • Results declaration for Junior Office Assistant (postcodes 903 and 939) approved.
  • Filling up of 486 Lecturer Physical Education posts and 157 supernumerary Principal School Cadre posts.
  • Declaration of district cadres of Patwari and Kanunago and divisional cadre of Naib Tehsildar as state cadres.
• State Award for School Teachers Scheme:
  • Approved to recognise outstanding teachers in 2024.
• Motor Vehicles Rules Amendment:
  • Requirement for an authorised receipt of two Bureau of Indian Standards-certified protective headgears for two-wheeler registration.
• Ropeway Construction:
  • Approved from taxi parking to Baba Balak Nath Temple Deothsidh, Hamirpur district.
• Home Stay Rules Revision:
  • Cabinet Sub-Committee to revise draft rules for the tourism department.

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13. Where did the Uttarakhand Forest Department open its first-ever bird gallery?
A) Nainital
B) Mussoorie
C) Haridwar
D) Rishikesh
E) Dehradun
Answer: E) Dehradun

Event and Location:

• Event: Uttarakhand Forest Department opens its first-ever bird gallery
• Location: Nature Education Centre, Jolly Grant, Dehradun, Uttarakhand

Mandates and Objectives:

• Objective: To promote wildlife education and conservation efforts by showcasing the avian diversity of Uttarakhand

Important Terms Explained:

• Bird Gallery: A dedicated space that showcases various bird species through displays, images, sounds, and information.
• Nature Education Centre: A facility aimed at educating the public about wildlife and nature conservation.

Detailed Explanation:

• Inauguration Details:
  • Uttarakhand Forest Department established the bird gallery at the Nature Education Centre in Jolly Grant, Dehradun.
• Purpose:
  • To promote awareness about the importance of avian diversity in maintaining ecological balance.
  • To educate visitors about the role of birds in the ecosystem through themed displays and information.
• Bird Species Highlighted:
  • Himalayan Monal
  • White-capped Redstart
  • Himalayan Griffon
  • Rufous-bellied Woodpecker
  • Black-headed Jay
• Features:
  • Ten themed areas showcasing different types of birds (ground-dwelling birds, birds of prey, water birds, forest birds, etc.).
  • Rich images, in-depth information, and bird calls to create an immersive experience.
  • Displays of abandoned nests and feathers to give visitors a closer look at bird life.
• Statements:
  • Sanjiv Chaturvedi, IFS and Chief Conservator of Forest (Research), emphasized the importance of understanding and appreciating the role of birds in the ecosystem.

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14. Where is the World Heritage Young Professionals Forum 2024 being held?
A) Paris
B) New York
C) New Delhi
D) London
E) Tokyo
Answer: C) New Delhi

Event and Location:

• Event: World Heritage Young Professionals Forum 2024
• Location: Pt. Deendayal Upadhyaya Institute of Archaeology, New Delhi, India

Mandates and Objectives:

• Announcement Date: 15 July 2024
• Objective: To enhance the expertise, skills, and capacities of young professionals in protecting, preserving, and promoting World Heritage.

Important Terms Explained:

• World Heritage Committee: A committee responsible for the implementation of the World Heritage Convention, which aims to protect cultural and natural heritage globally.
• UNESCO World Heritage Education Programme: A UNESCO initiative to educate and involve young people in World Heritage preservation and promotion.

Detailed Explanation:

• Event Details:
  • Inaugurated by Sh. Govind Mohan, Secretary Ministry of Culture, and other notable figures.
  • Part of the 46th session of the World Heritage Committee from 21st to 31st July 2024 in New Delhi.
• Participants:
  • 50 young professionals (20 from India, 30 from abroad).
• Forum Theme:
  • “World Heritage in the 21st Century: Building Capacities and Exploring Opportunities for Youth.”
• Focus Areas:
  • Climate change and sustainable development.
  • Integrating innovative technologies for heritage promotion.
  • Community involvement in heritage conservation.
  • Strengthening sustainable tourism and young entrepreneurship.
• Activities:
  • Presentations, roundtable discussions, site visits to World Heritage sites like Qutb Minar, Red Fort, Humayun’s Tomb in Delhi, and the Taj Mahal in Agra.
• Outcome:
  • Presentation of a ‘Declaration’ to the 46th session of the World Heritage Committee on 22nd July 2024.

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15. Which organizations have signed an MoU to promote climate-resilient agriculture in India?
A) ICAR and Syngenta Foundation India
B) ICAR and Monsanto India
C) ICAR and Bayer CropScience
D) ICAR and Corteva Agriscience
E) ICAR and Dow AgroSciences
Answer: A) ICAR and Syngenta Foundation India

Event and Location:

• Event: ICAR and Syngenta sign MoU to promote climate-resilient agriculture
• Location: Mangaluru, India

Mandates and Objectives:

• Announcement Date: July 16, 2024
• Objective: To enhance training and capacity-building programmes for farmers and rural youth focusing on climate-resilient agricultural practices

Important Terms Explained:

• ICAR: Indian Council of Agricultural Research, the apex body for coordinating, guiding, and managing research and education in agriculture in India.
• Syngenta Foundation India (SFI): A non-profit organization focused on creating value for small farmers in India.
• MoU: Memorandum of Understanding, a formal agreement between two or more parties.

Detailed Explanation:

• Partnership Details:
  • ICAR, Syngenta Foundation India (SFI), and Syngenta India Pvt Ltd signed the MoU.
  • Aim to promote climate-resilient agriculture and skill training.
• Training and Capacity Building:
  • Focus on farmers and rural youth.
  • Utilize ICAR’s network of national research institutes, regional stations, krishi vigyan kendras (KVKs), and agricultural universities.
• Objectives:
  • Enhance farmers’ knowledge of climate-resilient agricultural practices.
  • Build skills among rural youth to improve agricultural productivity and sustainability.

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