Daily Current Affairs 25th Aug, 2024

Daily Current Affairs 25th Aug, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 25th Aug, 2024. It includes all Major National, International, Business and Sports related current affairs of 25th Aug, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 25th Aug, 2024 Current affairs test.

NATIONAL NEWS

Cabinet Approves Unified Pension Scheme (UPS)

• The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, approved the Unified Pension Scheme (UPS).

1. Assured Pension:
   • Eligibility: 25 years of service.
   • Benefit: 50% of the average basic pay drawn in the last 12 months before retirement.
   • For Lesser Service Periods: Proportionate pension for service between 10 to 25 years.
2. Assured Family Pension:60% of the employee’s pension before their death.
3. Minimum Pension:
   • Amount: ₹10,000 per month.
   • Eligibility: Minimum 10 years of service.
4. Inflation Indexation applies to assured pension, family pension, and minimum pension.
5. Dearness Relief is based on the All India Consumer Price Index for Industrial Workers (AICPI-IW), similar to service employees.
6. Lump Sum Payment at Superannuation:
   • Calculation: 1/10th of monthly emoluments (pay + DA) for every six months of completed service.
   • Additional Benefit: This payment is in addition to gratuity and does not reduce the assured pension amount.

Spices Board Launches SPICED Scheme to Boost Spice Exports and Productivity

• The Spices Board of India has launched a transformative scheme aimed at significantly enhancing the export of spices and value-added spice products as well as improving the productivity of cardamom and upgrading the post-harvest quality of spices for exports

Business News

Dabur to Invest ₹400 Crore in First Manufacturing Plant in South India

• Dabur, one of India’s leading Fast-Moving Consumer Goods (FMCG) giants, will invest Rs 400 crore to set up a world-class manufacturing plant, its first ever in south India, at the Sipcot Food Park in Tindivanam in Villupuram district.

AWARDS AND HONOURS

President Murmu Confers Inaugural Vigyan Ratna Puraskar and Other Science Awards:

• President Droupadi Murmu conferred the first-ever Vigyan Ratna Puraskar — India’s top science award — on noted biochemist and former director of the Bangalore-based Indian Institute of Science Govind Rajan Padmanabhan

1. Vigyan Ratna Puraskar:
   • Recipient: Govindrajan Padmanabhan, noted biochemist and former director of the Indian Institute of Science, Bangalore.
   • Significance: India’s highest science award

MOUS AND AGREEMENT

GAIL and Petron Sign MoU to Explore Bio-Ethylene Plant Joint Venture

• GAIL (India) Limited and Petron Scientech Inc (Petron) have inked a Memorandum of Understanding (MoU) to jointly explore setting up of a 500 Kilo Tons per Annum (KTA) bio-ethylene plant along with its downstream unit(s) in India, based on bio-ethanol produced in the plant in a 50:50 Joint Venture (JV) mode.

DEFENCE NEWS

Defence Minister Rajnath Singh Inaugurates Advanced ICG Maritime Rescue Coordination Centre in Chennai, and Virtually Launches Regional Marine Pollution Response Centre and Coast Guard Air Enclave in Puducherry           

• Raksha Mantri Shri Rajnath Singh inaugurated the newly-constructed state-of-the-art Indian Coast Guard (ICG) Maritime Rescue Coordination Centre building in Chennai, Tamil Nadu.
• He also virtually launched the Regional Marine Pollution Response Centre, located at the Chennai Port premises, and the Coast Guard Air Enclave in Puducherry.
• The buildings have been established to ensure robust maritime security and provide efficient responses to emergencies, reinforcing the country’s commitment to maritime safety and environmental protection.

SCIENCE & TECHNOLOGY

National Aeronautics and Space Administration Greenhouse Gas-Tracking Instrument Successfully Launched  

• A satellite named Tanager-1, developed by a coalition of companies and organizations including National Aeronautics and Space Administration’s (NASA’s) Jet Propulsion Laboratory, was launched aboard a SpaceX Falcon 9 rocket from Vandenberg Space Force Base in California.

Experian India Launches AI-Driven Tool AiDRIAN for Real-Time Fraud Detection  

• Experian India, a leader in data and technology, has unveiled AiDRIAN, an advanced tool that detects potential fraud.
• AiDRIAN detects potential fraud at its source, preventing the possibility of financial loss in real time.
• The tool enhances customer experience while reducing the need for manual reviews and interventions.
• The platform integrates device profiling, analysing over 150 device parameters to create unique device IDs and identify anomalies.

Nokia Collaborates with Axiom Space for NASA’s Moon Mission’s Next-Gen Spacesuit Communication    

• Nokia has joined hands with Axiom Space to integrate advanced 4G/LTE communication capabilities into the next-generation spacesuits that will be used for the Artemis III mission, NASA’s ambitious plans to land humans at the south pole of the moon.

• The Artemis-III mission is likely to be launched in 2026 and Nokia plans to build the first cellular network on the moon, which would be in-built in the space suits used by astronauts.

India’s National Aerospace Laboratories  Unveils ‘Kamikaze’ Drone with 1000 km Range    

• India’s National Aerospace Laboratories (NAL) developed the ‘Kamikaze’ drone, featuring an indigenously built engine and a range of 1,000 kilometres.

About National Aerospace Laboratories :

• Established : 1 June 1959
• Location : Bangalore, Karnataka, India
• Director : Abhay Pashilkar
• The NAL is India’s first and largest aerospace research company established by the Council of Scientific and Industrial Research (CSIR) in Delhi.

Banking and Finance News

Axis Bank Overtakes ICICI Bank to Become Top Player in Credit Card Terminals    

• Axis Bank has become the leading player in credit card terminals in India, surpassing ICICI Bank.
• The bank achieved this position in just four years.
• The bank aims to further expand its credit card terminal business.
• It plans to use its leading position to increase deposit acquisitions and provide loans to small businesses.