NATIONAL:
1. Hottest Day
Why in news – July 4 has been measured to be the hottest two days for the earth ever.
Key Points –
• Average temperature on July 4 - 17.18OC.
• Reported by - Climate Reanalyzer project of the University of Maine, USA.
• Earlier, the hottest daily temperature happened to be 16.92 OC recorded in August 2016.
• Both hottest temperature has been measured in an El Nino year.
• El Nino effect - trigger more extreme heat in many parts of the world and in the ocean.
2. El Nino
Why in news – On July 4, the World Meteorological Organisation (WMO) announced the formal onset of the El Nino phase in the eastern equatorial Pacific Ocean.
Key Points –
• An abnormal warming of sea surface waters in the Pacific.
• Normal Conditions –
(a) a surface low pressure develops in the region of northern Australia and Indonesia and a high-pressure system over the coast of Peru.
(b) as a result, the trade winds over the Pacific Ocean move strongly from east to west.
(c) trade winds carry warm surface waters westward, bringing convective storms (thunderstorms and rain) to Indonesia and coastal Australia.
(d) along the coast of Peru, cold bottom cold nutrient-rich water wells up to the surface to replace the warm water that is pulled to the west.
• El Nino Year –
(a) air pressure drops over large areas of the central Pacific and along the coast of South America.
(b) it is replaced by a weak high in the western Pacific (the southern oscillation). It causes the trade winds to be reduced (Weak Walker Cell). Sometimes Walker Cell might even get reversed.
(c) it allows the equatorial counter-current (current along doldrums) to accumulate warm ocean water along the coastlines of Peru and Ecuador. (cuts off the upwelling).
(d) Severe droughts occur in Australia, Indonesia, India and southern Africa.
(e) Heavy rains in California, Ecuador, and the Gulf of Mexico.
Value Addition -
• Episodes of El Niño and La Niña typically last nine to 12 months.
• Occur every 2-7 years on average, but they don’t occur on a regular schedule.
• Generally, El Niño occurs more frequently than La Niña.
3. International Tracked Packet Service (ITPS)
Why in news – India Post entered into an agreement with Canada Post to introduce International Tracked Packet Service (ITPS).
Key Points –
• Aim - to facilitate e-commerce exports between the two countries.
• Benefit - e-commerce exporters including MSMEs, small businesses, merchants, etc can exports their products using local post offices.
• India Post already provides this service with 38 partner countries (Canada - 39th).
ECONOMY:
1. Internationalisation of Rupee
Why in news – RBI’s inter-departmental group (IDG) said the rupee has the potential to become an internationalized currency.
Key Points –
• Meaning –
(a) increasing the use of the rupee in cross-border transactions (import and export trade).
(b) transactions between residents in India and non-residents.
(c) Settling current account and capital account transactions.
• Requirements –
(a) opening up of the currency settlement
(b) strong swap and forex market
(c) full convertibility of the currency on the capital account. (India - full convertibility on current a/c only).
(d) history of macroeconomic stability.
• Advantages –
(a) mitigates currency risk (volatility) for Indian businesses
(b) reduces the need for holding foreign exchange reserves
(c) less vulnerable to external shocks.
• Recommendations –
(a) opening of the rupee accounts for non-residents both in India and outside India.
(b) integrating Indian payment systems with other countries for cross-border transactions
(c) global 24×5 rupee market
(d) recalibration of the FPI (foreign portfolio investor) regime
(e) inclusion of the rupee in IMF’s SDR (special drawing rights).
• Favourable reasons for India - fastest-growing economy, remarkable resilience in the face of major headwinds, economic sanctions imposed by the US on Russia.
Value Addition –
• Leading reserve currencies - US dollar, the Euro, the Japanese yen and the pound sterling.
• The value of the SDR is based on a basket of 5 currencies — the U.S. dollar, the euro, the Chinese renminbi, the Japanese yen, and the British pound sterling.
SUMMITS & CONFERENCES:
1. International Conference on Green Hydrogen (ICGH-2023)
Why in news – The 3-day ICGH-2023 was organized on July 5 - 7 2023 in New Delhi.
Key Points –
• Inaugurated by - R. K. Singh.
• Organized by - Ministry of Power and New and Renewable Energy).
• India is the only major economy to source 40% of its energy from non-fossil fuel sources 9 years ahead of the target of 2030.
• India’s per capita carbon emissions are about 1/3 of global average.
National Green Hydrogen Mission –
• Target –
(a) to produce at least 5 Million Metric Tonnes (MMT) of Green Hydrogen per annum by 2030. (to reach 10 MMT per annum with growth of export markets).
(b) abatement of nearly 50 MMT of annual greenhouse gas emissions
(c) cumulative reduction in fossil fuel imports over Rs. One lakh crore
• Initial outlay - Rs.19,744 crore.
• SIGHT - Strategic Interventions for Green Hydrogen Transition Program.
• SHIP - Strategic Hydrogen Innovation Partnership
Value Addition –
• As per the International Energy Agency, the world demand for hydrogen is expected to grow by 600% by the year 2050.
• The oil and gas PSUs set a production target of 7 lakh tonnes of green hydrogen per annum by the year 2030.
• Oil India Limited (OIL) has started a pilot plant in Jorhat, Assam.
• OIL has entered into an agreement with Tata Motors, for development of hydrogen fuel cell in India.
• Grey Hydrogen - produced via coal or lignite gasification (black or brown), or via a process called steam methane reformation (SMR).
• Blue Hydrogen - produced via natural gas or coal gasification combined with carbon capture storage (CCS)
• Green Hydrogen - produced using electrolysis of water with electricity generated by renewable energy.
AWARDS & HONOURS:
1. Elephant Family Environmental Award
Why in news – Britain’s King Charles III and Queen Camilla presented the award to Kartiki Gonsalves.
Key Points –
• She contributed to Oscar-winning documentary “The Elephant Whisperers” and and the Real Elephant Collective (TREC) of 70 Adivasi artists.
• ‘The Elephant Whisperers’ won the 2023 Academy Award for Best Documentary Short Film.
• The Real Elephant Collective was awarded the Mark Shand Award.
APPOINTMENTS:
1. Lt Gen MU Nair
Why in news – Lt Gen MU Nair has been appointed as the new National Cyber Security Coordinator (NCSC).
Key Points –
• He replaced Lt Gen (retd.) Dr Rajesh Pant.
• Appointed by - National Cyber Coordination Centre (NCCC).
• NCCC is cybersecurity and e-surveillance agency in the government of India (under M/o Home Affairs).
SPORTS:
1. AIFF Footballer of the Year 2022-23
Why in news – All India Football Federation (AIFF) announced the winners of its annual awards.
Key Points –
• Men’s Footballer of the Year - Lallianzuala Chhangte.
• Women’s Footballer of the Year - Manisha Kalyan. (2nd consecutive triu Men’s Emerging Player of the Year mph)
• Lallianzuala Chhangte becomes the 2nd player from Mizoram to win the award (1st - Jeje Lalpekhlua in 2016).
• Men’s Emerging Player of the Year - Akash Mishra.
• Women’s Emerging Player of the Year - Shilji Shaji.
BIHAR:
1. Birds Census in Bihar
Why in news – Department of forests, environment and climate change and the Bombay Natural History Society (BNHS) conducted the survey.
Key Points –
• Duration - January-February 2023.
• Bird species found – 205. (2022 census - 202)
• Counting exercise was done in 26 districts, covering 76 wetlands, comprising 3 river systems, Ganga, Kosi and Gandak.
• Maximum species of water birds - Bhagalpur and Jamui.
• Maximum number of land bird species - Begusarai
• In January 2021, the forest department organised a bird festival, Kalraw at the Nagi bird sanctuary in Jamui district.
• The step is in direction to fulfil ‘India’s National Action Plan for Conservation of Migratory Birds and their Habitats’.
POINTERS:
• Amrit kaal has been renamed to what to highlight citizens responsibility to achieve amrut kaal - kartavya kaal.
• Ports, Shipping & Waterways and Ayush ministry launched a campaign to transform how many historic Lighthouses into Tourism Spots – 75.
• The Board of Directors of IDFC First Bank approved the scheme of amalgamation of which company - IDFC Limited.
• To enhance the safety measures within trains, which IIT is developing a tamper-proof signalling based on blockchain technology - Indian Institute of Technology, Kharagpur.
• Who has strongly advised online platforms to not engage in 'unfair trade practices' by incorporating dark patterns in their online interface to manipulate consumer choice and violate 'consumer rights' - Department of Consumer Affairs.
• Which institute has developed Data carbon ladder that can help businesses measure the carbon dioxide output of their digital data - Loughborough University.
• Indian refiners have begun paying for some oil imports from Russia in which curreny apart from US dollar - Chinese yuan.
• During the closing ceremony of Startup20, India officially handed over the torch of G20 to which country – Brazil.
• Amit Shah laid foundation stone of the country's first cooperative-run Sainik School in which state – Gujarat (Mehsana).
• Who has chaired the 23rd Shanghai Cooperation Organisation summit – PM Narendra Modi.