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DAILY DOSE 31st JULY -2024 CURRENT AFFAIRS
1) Report On Currency And Finance : 2023-2024
- As per the ‘Report on Currency and Finance (RCF) for the year 2023-24’ released by the Reserve Bank of India (RBI), India’s digital economy is set to constitute 20% of the country’s GDP by 2026, doubling its current contribution of 10%.
- This significant growth projection underscores the transformative potential of digitalization in finance and its far-reaching impact on India’s economy.
- Report on Currency and Finance:
- It is an annual publication of the RBI.
- The report covers various aspects of the Indian economy and financial system.
- The theme of the “Report is “India’s Digital Revolution.”
2) International Tiger Day 2024:
- International Tiger Day is celebrated every year on 29th July, to raise awareness about the magnificent yet endangered animal.
- The day is a reminder of the collective effort of 13 tiger range countries to double the wild tigers’ population by 2022 through the TX2 global goal.
- The TX2 goal is a global commitment to double the world’s wild tigers by 2022.
- The goal has been set by the World Wildlife Fund (WWF) through the Global Tiger Initiative, Global Tiger Forum and other critical platforms.
- The day was first established in 2010 at the Saint Petersburg Tiger Summit.
3) Prompt Corrective Action Framework : RBI
- The Reserve Bank of India (RBI) has introduced a Prompt Corrective Action (PCA) framework for Urban Cooperative Banks (UCBs).
- This framework aims to enable timely supervisory intervention and ensure UCBs implement necessary remedial measures to restore their financial health.
- It replaces the existing Supervisory Action Framework (SAF) last revised in January 2020.
- The new PCA framework is designed to provide flexibility by allowing entity-specific supervisory action plans based on individual risk assessments.
- It aligns with similar frameworks for Scheduled Commercial Banks and Non-Banking Financial Companies while maintaining supervisory rigor.
4) SAFAL Test Cycle 2024 To Reduce Exam Stress : CBSE
- CBSE Launches SAFAL Test Cycle to Ease Exam Pressure
- Objective Assess students of Classes 5 and 8 on core concepts instead of rote learning with no preparation required.
- SAFAL (Structured Assessment For Analyzing Learning) aligns with NEP 2020 to reduce exam fear. It started with 80 schools in 2022, expanded to 1,887 schools in 2023.
- In 2024, over 10 lakh students from 11,000 schools are participating.
- Implementation SAFAL will test science, math, and languages in 75-minute (Class 5) and 90-minute (Class 8) sessions.
- Assessment Levels 1.
5) Oropouche Fever : First Ever Death
- Brazil has reported its first-ever deaths from Oropouche fever, a mosquito-borne disease with symptoms similar to dengue, but severe cases are rare.
- The virus, first detected in Trinidad and Tobago in 1955, has spread to Latin America, the Caribbean, and recently to Europe, with Italy reporting its first case in June 2024.
- Oropouche fever is transmitted by infected midges and mosquitoes, and symptoms start between four and eight days after the bite, including fever, headaches, pain, and sometimes nausea.
- Most patients recover in about seven days, and there is no vaccine or specific treatment.
6) Mekedatu Project : Karnataka Govt
- Karnataka Chief Minister(CM) has highlighted the Mekedatu balancing reservoir project as a key solution to address water-sharing issues with Tamil Nadu during monsoon distress years, asserting that the project would benefit both states, particularly in times of water scarcity.
- The Mekedatu multi-purpose project aims to build a balancing reservoir near Kanakapura to provide drinking water to Bengaluru and generate 400 MW of power.
- Mekedatu is a deep gorge at the confluence of the Cauvery and Arkavathi rivers.
- The Supreme Court, has settled the sharing of Cauvery water, with Karnataka required to release 177.25 thousand million cubic (tmc) feet, but only during a normal year, not in a year of deficit rainfall. Tamil Nadu has a right to 177.25 tmc ft, but only during a normal monsoon.
7) Discovery Of Dark Oxygen:
- Scientists reported an unknown process is producing oxygen deep in the world’s oceans, where photosynthesis can’t occur due to the lack of sunlight.
- This discovery is significant because oxygen supports marine life and suggests that there may be previously unknown ecosystems.
- Scientists observed an unexpected increase in oxygen concentration in some areas of the abyssal zone (where sunlight is extremely low and insufficient for photosynthesis).
- Researchers noted that this finding represents a new source of oxygen where photosynthesis does not occur, and termed it as ‘dark oxygen’.
- Typically oxygen is provided by the ‘Great Conveyor Belt’, a global circulation system which should decrease without local production, as small animals consume it.
8) Shiksha Saptah 2024:
- The Union Ministry of Education celebrated the 4th anniversary of the National Education Policy (NEP) 2020 with a week-long campaign called “Shiksha Saptah.”
- This campaign is designed to promote and celebrate the achievements and objectives of NEP 2020.
- Shiksha Saptah:
- Vidyanjali Program is an initiative by the Department of School Education and Literacy, that connects community members and volunteers with government and government-aided schools through an online portal.
- The Vidyanjali portal enables alumni, teachers, scientists, and others to contribute services, materials, or expertise to schools across India, enhancing the learning environment by integrating schools, volunteers, and the community in line with NEP 2020 objectives.
9) Agarwood:
- India has successfully prevented inclusion of Aquilaria malaccensis (agarwood) in the Review of Significant Trade (RST) of the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).
- Agarwood or Gaharu as it is known in many Asian countries is resinous heartwood that occurs in trees belonging to the genus Aquilaria.
- It is a fast-growing, subtropical forest tree.
- It grows at elevations from a few meters above sea level to about 1000 meters, with approx. 500 meters being most ideal.
- West Bengal and North-Eastern States of India namely Assam, Meghalaya, Manipur, Mizoram,Arunachal Pradesh and Nagaland.
10) World Heritage List : New
- UNESCO recently inscribed China’s Migratory Bird Sanctuaries along the Yellow Sea-Bohai Gulf (Phase II) to its World Heritage List.
- Bohai Gulf is the innermost gulf of the Yellow Seaon the coast of Northeastern and North China.
- It is sometimes called Bohai Sea, or Bo Hai for short; in earlier times it was called the Gulf of Chili or the Gulf of Pechili.
- It is approximately 78,000 sq.km in area, and its proximity to Beijing, the capital of China, makes it one of the busiest seaways in the world.
- The Bohai Gulf is enclosed by the Liaodong Peninsula(northeast) and the Shandong Peninsula (south).
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