Daily Current Affairs- 7 July 2024

Daily Current Affairs- 7th July 2024

INTERNATIONAL

India donates digital equipment worth Rs 300 million to 200 schools in Sri Lanka

• India donated digital equipment, including 2,000 Tabs, worth Rs 300 million for use by 200 schools in the southern province of Sri Lanka, Of the 200 selected schools, 150 are in the Galle district, while the remaining 50 are in the Hambantota and Matara districts, Sri Lanka. 

H.E Masoud Pezeshkian elected as the new President of Iran

• E Masoud Pezeshkian has been elected as the President of Iran, officially the Islamic Republic of Iran, The former heart surgeon and health minister, he came across in the many presidential TV debates as a man of great personal integrity and humility, desperate to bring the country together after it had been divided domestically and abroad. 

Indo-Russian Joint Venture Delivers 35,000 AK-203 Assault Rifles to Indian Army

• In a significant milestone, Indo-Russian Rifles Private Limited has successfully produced and delivered 35,000 AK203 assault rifles to the Indian Ministry of Defence. This joint venture, registered and located in India, includes Russian defense entities ROSOBORONEXPORT JSC and the Kalashnikov Group, both subsidiaries of the Rostec State Corporation. 

US-based AI company Glean Technologies launches its first office in India

• US-based artificial intelligence company Glean Technologies, Inc, announced the launch of their first office in India, located in Bengaluru. The office will be the centre of operations for India and will house finance, sales, research and development (R&D), and business operations functions. This innovation site will play a key role in enabling Glean’s customers to deploy GenAI assistants and applications at scale globally. 

NATIONAL

D Y Chandrachud Inaugurates New Office of Securities Appellate Tribunal in Mumbai

• Chief Justice of India D Y Chandrachud inaugurated the new office of the Securities Appellate Tribunal in Mumbai, Chandrachud hoped that the Securities and Exchange Board of India and the Securities Appellate Tribunal would celebrate the successes while exercising caution. 

APPOINTMENS & RESIGNATIONS

Bandhan Bank appoints Ratan Kumar Kesh as interim MD and CEO

• Private sector Bandhan Bank’s board has approved the appointment of Ratan Kumar Kesh as interim MD and CEO from July 10, a day after its founder MD and CEO Chandra Shekhar Ghosh exits office, the appointment is for a period of three months or till the new MD and CEO takes charge, whichever is earlier. 

IMPORTANT DAYS

World Kiswahili Language Day

• World Swahili Language Day (Swahili: Siku ya Kiswahili ya Umoja wa Mataifa) is observed annually on 7 July. This began when UNESCO declared 7 July as Swahili Language Day in 2022.
• World Swahili Language Day marks the first United Nations designation of an African-originated language for a Official languages of the United Nations § Language Days at the UN, the other language days were from the six (6) official languages of the United Nations which are Arabic, Mandarin Chinese, English, French, Russian, Spanish. 

SUMMITS & MOUs

46th World Heritage Committee Meeting

• The first intervention under Project PARI is taking place in Delhi. It coincides with the 46th session of the World Heritage Committee scheduled to be held in New Delhi, India between 21-31 July 2024, Project PARI aims at stimulating dialogue, reflection, and inspiration, contributing to the dynamic cultural fabric of the nation.
• Project PARI (Public Art of India), an initiative by the Ministry of Culture, Government of India, being executed by Lalit Kala Akademi and National Gallery of Modern Art seeks to bring forth public art that draws inspiration from millennia of artistic heritage (lok kala/lok sanskriti) while incorporating modern themes and techniques. 

BANKING AND ECONOMY

RBI Penalizes Five Banks, Including PNB, For Regulatory Non-Compliance in First Week of July 

• The Reserve Bank of India (RBI) penalized five banks, including Punjab National Bank (PNB), in the first week of July for non-compliance with various RBI directions.
• PNB became the fifth bank to be penalized, with a penalty of Rs 1.31 crore. This penalty was imposed for non-compliance with RBI directions regarding ‘Loans and Advances: Statutory and Other Restrictions’ and the ‘Reserve Bank of India (Know Your Customer (KYC) Direction, 2016.’
• Before PNB, the RBI penalized four cooperative banks with various penalty amounts. These banks include The Gujarat Rajya Karmachari Co-operative Bank, Gujarat; The Rohika Central Co-operative Bank, Madhubani, Bihar; The National Co-operative Bank, Mumbai, Maharashtra; and The Bank Employees’ Co-operative Bank, West Bengal.