Current affairs today July 9 2024

Current affairs today July 9 2024

India Prepares for Malabar Naval Exercise: India is set to host the Malabar naval exercise in the Bay of Bengal this October, alongside the United States, Japan, and Australia. This event comes amid rising regional tensions due to China’s assertive actions in the South China Sea and its growing presence in the Indian Ocean Region (IOR). The 28th edition of the exercise will emphasize advanced anti-submarine warfare and aims to improve military interoperability among the participating nations.

Current affairs today July 9 2024

1. ICICI Lombard Introduces ‘Elevate’ Health Insurance: ICICI Lombard has unveiled ‘Elevate’, an innovative health insurance product powered by AI. It offers unlimited coverage options, financial protection, and personalized plans tailored to individual needs.
2. PM Modi to Receive Russia’s Highest Civilian Honour: Prime Minister Narendra Modi will be awarded the Order of St Andrew the Apostle the First-Called, Russia’s highest civilian honour, for his outstanding service. The award was bestowed on him in 2019 at St Catherine’s Hall of the Moscow Kremlin.
3. Tata Power Launches ‘Ghar Ghar Solar’ Initiative: Tata Power has initiated the ‘Ghar Ghar Solar’ program in Uttar Pradesh, starting from Varanasi. This initiative offers substantial subsidies and state-of-the-art rooftop solar solutions to residents.
4. Maharashtra Wins Best Agriculture State Award: The 15th Agriculture Leadership Awards Committee has announced that Maharashtra has won the Best Agriculture State Award for 2024.
5. Indian Squash Players Triumph at Asian Championship: Indian squash players secured two titles at the Asian Squash Doubles Championship 2024 held at the Arena Emas in Johor, Malaysia. The Indian team won in both the men’s doubles and mixed doubles categories.
   • Mixed Doubles Title: Champions Abhay Singh and Joshna Chinappa defeated Hong Kong China’s Tong Tsz Wing and Ming Hong Tang.
   • Men’s Doubles Title: Champions Abhay Singh and Velavan Senthilkumar defeated Ong Sai Hung and Syafiq Kamal of Malaysia in straight sets.
6. Roshni Nadar Malhotra Honoured by France: Roshni Nadar Malhotra, Chairperson of IT services firm HCLTech, has been awarded the “Chevalier de la Légion d’Honneur” (Knight of the Legion of Honour), France’s highest civilian award.
7. Sivashankari Receives National Literary Award: Renowned Tamil author Sivashankari has been selected as the recipient of the prestigious Dr. C. Narayana Reddy National Literary Award.
8. India Ranks Fifth in Generative AI Innovations: India ranks fifth in Generative AI (GenAI) innovations, following China, the US, Republic of Korea, and Japan. Despite its position, India has shown the highest annual growth rate in GenAI patent publications, indicating significant potential for economic impact.
   • Global Rankings and Patent Data:
     • China: 38,210 patents
     • United States: 6,276 patents
     • Republic of Korea: 4,155 patents
     • Japan: 3,409 patents
     • India: 1,350 patents from 2014 to 2023

Here are the revised versions of the topics to remove plagiarism:

10. Dr. Arpit Chopra Honored at NDTV MSMES Summit: Dr. Arpit Chopra, a renowned homeopathic practitioner, received the Excellence Award at the NDTV MSMES Summit in Bhopal, Madhya Pradesh¹.
11. India’s Employment Growth in FY24: According to the Reserve Bank of India (RBI), India’s employment growth provisionally increased to 6% in FY24, up from 3.2% in FY23. This rise brought total employment to 643.3 million, an increase from 596.7 million the previous year, with 46.7 million jobs created.
    • Detailed Findings:
      • Employment Growth: 6% in FY24, up from 3.2% in FY23.
      • Total Employment: 643.3 million by March 2024.
      • Jobs Created: 46.7 million in FY24.
      • Data Source: RBI report using data from the National Accounts and Ministry of Labour.
    • Context and Comparisons:
      • Citibank Report: Suggested that 7% GDP growth might only create 8-9 million jobs annually, below the 11-12 million needed.
      • Labour Department Statement: Claimed an average of over 20 million employment opportunities were created annually between 2017-18 and 2021-22.
    • Broader Implications:
      • Political Impact: Job creation remains a critical issue for Prime Minister Narendra Modi’s government, influencing electoral outcomes.
      • Unemployment Rate: Despite job creation, the Centre for Monitoring Indian Economy estimated the unemployment rate rose to 8% in FY24, from 7.5% and 7.7% in the preceding two years.
      • New Initiatives: For the first time, the RBI attempted a provisional estimate of productivity for the entire economy for FY24, based on available information.
12. Rachel Reeves Becomes UK’s First Woman Finance Minister: Rachel Reeves has made history as the first woman to serve as the finance minister of the UK.
13. ICAI and MeitY Collaborate on AI Audit Tool: The Institute of Chartered Accountants of India (ICAI) and the Ministry of Electronics and Information Technology (MeitY) are working together to develop an AI Audit Tool to monitor corporate performance and detect fraud. This tool will also support over 900,000 CA students in their exam preparation.
14. Government Mandates BIS Standards for Utensils: The Government of India has mandated that all stainless steel and aluminium utensils must conform to the Bureau of Indian Standards (BIS). According to a press release by the Ministry of Consumer Affairs, Food and Public Distribution, this directive, effective from March 14, 2024, under the Quality Control Order issued by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, makes the ISI mark compulsory for these utensils.

15. China’s Dominance in Titanium Mineral Production: In 2023, China led the world in titanium mineral production, with its ilmenite mines producing around 3.1 million metric tons of titanium dioxide content. This output was nearly double that of Mozambique, the second-largest producer. China’s extensive mining operations and advanced extraction technologies highlight its significant role in the global titanium market¹.
16. Vietnam Tops Affordable Countries for Expats in 2024: Vietnam has been ranked as the most affordable country for expats in 2024, with 86% of expats rating it highly. Following Vietnam are Colombia, Indonesia, Panama, and the Philippines.
    • Top 10 Affordable Countries for Expats in 2024:
      1. Vietnam
      2. Colombia
      3. Indonesia
      4. Panama
      5. Philippines
      6. India
      7. Mexico
      8. Thailand
      9. Brazil
      10. China².
17. Costliest Cities for International Workers in 2024: According to Mercer’s cost-of-living data report, Hong Kong, Singapore, and Zurich are the most expensive cities for international workers in 2024, maintaining their positions from the previous year. Conversely, Islamabad, Lagos, and Abuja are the least expensive.
    • Most Expensive Cities in Asia: Besides Hong Kong and Singapore, other costly cities in Asia include Shanghai (23), Beijing (25), and Seoul (32). The least expensive cities in the region are Karachi (222), Bishkek (223), and Islamabad (224).
    • Highest Indian City: Mumbai ranks as the highest Indian city at 136th place, with Delhi moving up to 165th. Other Indian cities on the list include Chennai (189), Bengaluru (195), Hyderabad (202), Pune (205), and Kolkata (207). High housing costs and increased expenses for transportation, goods, and services contribute to the high cost of living in these cities³⁴.
18. ISRO’s Gaganyaan Astronauts for ISS Mission: The Indian Space Research Organisation (ISRO) has shortlisted two of its four trained Gaganyaan astronauts for a mission to the International Space Station (ISS) in collaboration with NASA. Only one astronaut will be selected for the mission, which is scheduled for no earlier than October 2024⁵.
19. Gautam Gambhir Recommended as Head Coach of Team India: On July 9, the Cricket Advisory Committee, consisting of Mr. Ashok Malhotra, Mr. Jatin Paranjpe, and Ms. Sulakshana Naik, unanimously recommended Mr. Gautam Gambhir as the Head Coach of Team India (Senior Men).
20. Dal Khalsa Founder Gajinder Singh Khalsa Passes Away: Gajinder Singh Khalsa, the founder and patron of Dal Khalsa, reportedly died of a heart attack at a hospital in Pakistan on June 4.

Here is the revised version of the topic to remove plagiarism:

21. SEHER Program Launched to Empower Women Entrepreneurs: On July 8, the Women Entrepreneurship Platform (WEP) and TransUnion CIBIL introduced SEHER, a credit education program designed to empower women entrepreneurs in India. The program aims to provide financial literacy content and business skills, helping women access the financial tools necessary for growth and job creation in the economy¹.

About the Women Entrepreneurship Program: The Women Entrepreneurship Program (WEP) is a public-private partnership platform incubated at Niti Aayog, aiming to create a supportive ecosystem for women entrepreneurs in India. As part of WEP’s Financing Women Collaborative (FWC), the SEHER program was launched by Ms. Anna Roy, Mission Director of WEP and Principal Economic Adviser at NITI Aayog, along with key officials from various financial and governmental institutions¹.

Supporting Women-Owned Businesses: According to the Udyam Registration Portal (URP) of the Ministry of Micro, Small and Medium Enterprises (MSMEs), India has 63 million MSMEs, with 20.5% being women-owned, employing approximately 27 million people. Rural areas have a slightly higher share of women-owned enterprises (22.24%) compared to urban areas (18.42%). Accelerating women’s entrepreneurship could potentially create over 30 million new women-owned enterprises, generating 150 to 170 million jobs¹.

Demand for Business Loans: Data from TransUnion CIBIL indicates that the demand for business loans by women has increased 3.9 times over the last five years (FY 2019 – FY 2024). During this period, there was a 10% growth in the number of women borrowers holding business loans. As of March 2024, 38% of the 1.5 crore borrowers with live business loans were women. The portfolio balance for business loans by women grew at a 35% compound annual growth rate (CAGR) from March 2019 to March 2024. The share of women borrowers for other products, such as agri-business loans and commercial vehicle loans, remained constant at 28%¹.

Focus on Credit Education: With the growth of women-led businesses across various regions, providing quick, easy, and cost-effective access to finance is crucial for their sustained growth. SEHER focuses on credit education, offering women entrepreneurs personalized resources and tools, including financial literacy content. WEP and TransUnion CIBIL are dedicated to promoting financial and credit awareness, educating women entrepreneurs about the importance of building a good credit history and CIBIL score to facilitate easier and faster access to finance¹.