Daily Current Affairs 4th Aug, 2024: Your guide for daily General Knowledge Preparation
Dear Readers,
This post contains important current affairs of 4th Aug, 2024. It includes all Major National, International, Business and Sports related current affairs of 4th 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 4th Aug, 2024 Current affairs test.
National News
Centre unlikely to extend Mahila Samman Savings Certificate scheme
- The Mahila Samman Savings Certificate Scheme (MSSCS), launched to promote savings among Indian women, is unlikely to be extended beyond its March 2025 deadline.
- Finance Minister Nirmala Sitharaman introduced the scheme in the FY24 budget to foster a savings habit among women.
ICMR’s Royalty from Bharat Biotech for Covaxin Development
- The Indian Council of Medical Research (ICMR) received ₹172 crore in royalty from Bharat Biotech International Limited (BBIL) for the joint development of Covaxin, a COVID-19 vaccine.
“VIRAASAT” Exhibition Celebrates 10th National Handloom Day
- The “VIRAASAT” exhibition, dedicated to celebrating the 10th National Handloom Day, began on August 3, 2024, at Handloom Haat, Janpath.
- Organized by the National Handloom Development Corporation Ltd (NHDC) under the Ministry of Textiles, Government of India.
- The exhibition will run until August 16, 2024.
Banking & Finance News
Reserve Bank of India Updates Non-Performing Assets Provision Norms for Co-operative Banks to Ensure Uniformity
- The Reserve Bank of India (RBI) issued revised instructions on Bad and Doubtful Debt Reserve (BDDR) for cooperative banks to ensure uniformity in the treatment of this reserve for prudential purposes.
- Reason for Revision: The current procedure of not recognizing the required provisions for Non-Performing Assets (NPAs) as an expense in the Profit and Loss (P&L) account is not in line with existing Accounting Standards (AS).
- The treatment of BDDR for regulatory capital and the calculation of net NPAs varies across banks and often deviates from regulatory norms.
Reserve Bank of India Grants Cross-Border Payment Aggregator License to BillDesk, Amazon Pay, and Adyen
- The Reserve Bank of India (RBI) has issued a cross-border payment aggregator (PA-CB) licence to three companies: BillDesk, Amazon Pay, and
- On July 22, 2024, Bengaluru-based Cashfree was the first to receive the PA-CB licence.
- Purpose of PA-CB Licence: The PA-CB licence allows payment companies to offer services related to cross-border payments for export-import transactions.
Business News
BHEL secures order for demonstration of first of its kind methanol firing in gas turbine of kayamkulam CCCP
- Bharat Heavy Electricals Limited (BHEL) has received the first ever order for the demonstration of methanol firing in a Gas Turbine at the 350 MW Kayamkulam Combined Cycle Power Plant (CCPP) of NTPC installed at Alappuzha district in Kerala.
- This will be the first such demonstration project of its kind in India.
Appointments & Resignations
Dr. Grinson George assumes office as the new Director of Central Marine Fisheries Research Institute
- Grinson George, former head of the Marine Biodiversity and Environment Management Division at the Central Marine Fisheries Research Institute (CMFRI) has assumed charge as Director of the CMFRI.
- He has also held the position of Senior Programme Specialist at the South Asian Association for Regional Cooperation (SAARC) in Dhaka.
Defence News
Defence Acquisition Council Sanctions amendment to MQ-9B UAV deal with U.S
- The Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh reviewed and approved amendments to the deal for 31 MQ-9B High Altitude Long Endurance (HALE) Unmanned Aerial Vehicles (UAV) from General Atomics of the US.
- The DAC also gave approval to a proposal regarding the scheduled refit of aircraft carrier INS Vikramaditya later this year.
- The amendments approved are within the scope of the Acceptance of Necessity (AoN) that was granted for the MQ-9B deal.
Mous And Agreement
NTPC-NPCI JV to start work on Rs 50,000-crore Rajasthan nuclear power plant this fiscal
- NTPC Ltd, in collaboration with NPCIL, is set to develop the Mahi Banswara nuclear power plant with a capacity of 2.8 GW and is also exploring the development of Bharat Small Reactors.
- The company plans to significantly increase its green energy capacity and diversify into other energy and chemical sectors.
RailTel and Cylus Partnership: Enhancing Cybersecurity for Indian Railways
- RailTel, a leading public sector entity in telecommunications and ICT solutions, has entered a strategic partnership with Cylus, a prominent cybersecurity firm specializing in the rail sector.
- This collaboration aims to bolster the cybersecurity framework of Indian Railways’ extensive infrastructure.
