Daily Current Affairs- 12 September 2024

Daily Current Affairs- 12th September 2024

INTERNATIONAL

US govt to partner with IIT Madras Research Park for solar, green hydrogen

• The United States and IIT Madras Research Park will soon announce a partnership to work in four broad areas, solar, green hydrogen, electric vehicles and batteries and green buildings. 

NATIONAL

Bharat Biotech ties up with Alopexx to develop anti-microbial vaccine

• Bharat Biotech has collaborated with Alopexx Inc for development and commercialisation of the latter's broad-spectrum anti-microbial vaccine in India and other low income countries, As part of the collaboration, the companies will co-develop and commercialise the vaccine -- AV0328, in India and other licensed territories. 

Lockheed Martin, Tata Expand C-130J Partnership to Boost India's Defense Capabilities

• Lockheed Martin and Tata Advanced Systems (TASL) have strengthened their longstanding partnership through a new agreement focusing on the C-130J Super Hercules tactical airlifter. 

Piyush Goyal launches Trade Connect e-platform

• In a bid to support Indian exporters, MSMEs, and entrepreneurs, Commerce and Industry Minister Piyush Goyal on Wednesday launched the Trade Connect e-platform. 

PM Modi to inaugurate second phase of Ahmedabad Metro, Connecting Ahmedabad and Gandhinagar

• Developed by the Gujarat Metro Rail Corporation (GMRC) in partnership with the Government of Gujarat and the Government of India, this project aims to expand the metro network, connecting key locations between Ahmedabad and Gandhinagar. The new extension will link crucial areas such as GNLU, PDEU, Gift City, Raysan, Randesan, Dholakuva, Infocity, and Sector-1. 

Shri Piyush Goyal inaugurates Akurli bridge, Mumbai

• Union Minister for Commerce and Industry, Shri Piyush Goyal, as he inaugurated the Akurli bridge on the Western Express Highway in Mumbai yesterday late at night. This significant project, which had been languishing for several years, was expedited following the intervention of Shri Goyal, who is also the Member of Parliament for North Mumbai. 

APPOINTMENS & RESIGNATIONS

C S Vigneshwar appointed FADA President

• The Federation of Automobile Dealers Associations (FADA) announced the appointment of C S Vigneshwar as its President for 2024-26 period, the decision was taken at the 315th Governing Council Meeting, held immediately after the 60th annual general meeting, FADA said in a statement. 

RS Sharma Appointed Non-Executive Chairperson of ONDC

• The Open Network for Digital Commerce (ONDC) has appointed R S Sharma as its Non-Executive Chairperson. Sharma, who has previously served as the Director General and Mission Director of the Unique Identification Authority of India (UIDAI), Chairman of the Telecom Regulatory Authority of India (TRAI), and CEO of the National Health Authority, will now lead ONDC 

IMPORTANT DAYS

UNGA declares July 6 as World Rural Development Day

• The United Nations General Assembly (UNGA) has unanimously passed a Pakistan Sponsored resolution to declare July 6 as World Rural Development Day.
• The 193-member Assembly adopted the resolution without voting, which was initiated by Bangladesh and co-sponsored by Pakistan and 42 other countries, highlighting the importance of rural development. 

BANKING AND ECONOMY

RBI fines HDFC Bank & Axis Bank for non-compliance

• The Reserve Bank of India (RBI) has fined the largest private sector bank, HDFC Bank, and the third largest private bank, Axis Bank, for non-compliance with the RBI's regulatory norms.

Rs 1.91 crore fine on Axis Bank 

• The RBI fined Axis Bank Rs 1.91 crore for violating the provisions of the Banking Regulation Act 1949 regarding the opening of savings accounts for ineligible persons, failing to issue unique customer identification codes (UCIC), and improperly managing collateral for agricultural loans up to Rs 1.60 lakh.RBI also fined the bank for its subsidiary's conduct in violating RBI’s norms.

Rs 1 crore fine on HDFC Bank 

• The RBI fined HDFC Bank Rs 1 crore for failing to follow RBI’s instructions regarding deposit interest rates, recovery agents, and customer service practices. The bank was found guilty of paying first-year premiums for the life insurance policies of some of its customers, opening accounts for ineligible entities, and failing to follow customer contact guidelines. 

SBI introduces 3 new offerings to ease payments for commuters

• State Bank of India introduces 3 new offerings to ease payments for commuters namely, the MTS RuPay NCMC prepaid card, which provides an offline payment solution; the One View mobile app, a one-stop solution to manage all SBI NCMC prepaid cards; and an advanced design for SBI FASTag that reduces travel time for commuters.