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Current Affairs Daily Digest – July 15 2024

1. Indian Sand Artist Sudarshan Bags Gold Medal In International Sand Sculpture Championship

In July, the Golden Sand Master award went to Sudarsan Pattnaik, a famous sand artist who won the event in Russia. The International Sand Sculpture Championship took place at the famous Peter and Paul Fortress in St. Petersburg from July 4–12. There were 21 great sculptors from around the world at the event.

A bit about Sudarsan Pattnaik

Sadarsan Pattnaik is an Indian sand artist from Puri, Odisha. He was born on April 15, 1977. For his beach sand art, the Indian government gave him the Padma Shri, which is the country’s fourth-highest citizen award, in 2014.

What he did and the awards he won

• In 2014, the Indian government gave him the Padma Shri, which is the fourth highest civilian award in India, for his work in Sand Arts.
• First Place in the People’s Choice Award at the 2014 Sand Sculpting World Cup in Atlantic City, US.
• The 2019 Italian Sand Art Award went to the first Indian winner. It was given at the International Scorrano Sand Nativity event in Lecce, Italy, from November 13th to November 17th.

2. PM Modi Becomes Most Followed Global Leader on X with Over 100 Million Followers

Prime Minister Narendra Modi has passed a big milestone on social media site X by getting more than 100 million fans. This achievement makes him the most followed world leader on X, far ahead of people like Pope Francis, US President Joe Biden, and Sheikh Mohammed, the boss of Dubai.

Milestones Reached and Growth

Getting to 100 million followers on X is a huge achievement. Just in the last three years, 30 million more people have become followers. His interesting posts on the site have drawn a wide range of people, from politicians and celebrities to regular people.

How to Compare and Influence

Not only does PM Modi have more followers on X than other Indian politicians like Rahul Gandhi and Arvind Kejriwal, but he also has more followers than global celebrities like Taylor Swift and Lady Gaga and famous players like Virat Kohli and Neymar Jr.

3. KP Sharma Oli Appointed As Nepal’s New Prime Minister

The fourth time that K.P. Sharma Oli was sworn in as Prime Minister of Nepal was on July 15. On July 14, President Ram Chandra Paudel named the leader of Nepal’s biggest communist party as Prime Minister. He will be in charge of a new coalition government that has the difficult job of keeping the country’s government stable.

Notes on K.P. Sharma Oli

Khadga Prasad Sharma Oli is a politician from Nepal who was born on February 22, 1952. He has been Prime Minister of Nepal since July 15, 2024. He was prime minister twice before, from October 11, 2015, to August 3, 2016, and from February 15, 2018, to July 13, 2021. He was the first prime minister to be chosen after the first general election under the new constitution.

The top party in Parliament

Mr. Oli, 72, takes over as prime minister from Pushpa Kamal Dahal “Prachanda,” who lost a vote of confidence in the House of Representatives on June 12. This led to the formation of a new government led by Mr. Oli. It was the Nepali Congress, which is the biggest party in Parliament, that helped him become Prime Minister. Pres. Paudel swore in Mr. Oli at Shital Niwas, which is the main building of Rashtrapati Bhawan. According to the law, Mr. Oli must now get a vote of confidence from Parliament within 30 days of being appointed. In the 275-seat House of Representatives (HoR), Mr. Oli will need at least 138 votes to win.

4. Argentina Clinches Second Consecutive Copa America Title

With an exciting game that will be remembered for years to come, Argentina won its second straight Copa America title by beating Colombia 1-0 in extra time, despite facing tough odds and tough competition. But the win came at a price: Lionel Messi, the team’s star player, got hurt in the second half and could miss a lot of games.

The Moment of Victory

The tie was finally broken when Lautaro Martínez scored the game-winning goal in the 112th minute. He had come on as a replacement in the 97th minute. Giovani Lo Celso made a perfectly timed through pass that led to the goal. Martínez held his nerve amazingly well as he sent a right-footed shot past Camilo Vargas, the Colombian goalie, and into the net for his 29th international goal and tournament-high fifth.

5. World Bank Approves $1.5 Billion Loan For Low Carbon Energy Sector

On June 28, the World Bank’s Board of Executive Directors agreed to give India $1.5 billion for a second operation to speed up the growth of low-carbon energy. The operation will try to encourage the growth of a strong market for green hydrogen, keep increasing the use of renewable energy, and get more money for investments in low-carbon energy.

A rise in the production and use of green hydrogen

India’s economy is growing faster than any other big economy in the world, and it’s likely to keep growing quickly. To separate economic growth from emissions growth, more green energy will need to be used, especially in industries that are hard to regulate. For this to happen, green hydrogen production and use will need to grow. Climate finance will also need to grow faster to make it easier to get money for low-carbon projects.

6. Ireland Surpasses Mauritius in Preferred FPI Destinations

As of June 30, 2024, Ireland had passed Mauritius to become the fourth most popular place for Foreign Portfolio Investors (FPIs) to send money to India. Ireland has Rs 4.41 trillion in assets under custody (AUC), just a little more than Mauritius, which had Rs 4.39 trillion. With a 26% rise in AUC in the first half of the year compared to Mauritius’ 11% rise, the change shows how appealing Ireland is.

Problems with regulations and changing tastes

Legal experts and custodians say that Mauritius’s fall is due to the fact that it takes a long time to approve new funds, which delays the registration of funds. These delays are also caused by more scrutiny on Mauritius-based funds dealing in India, which has made FPIs look for other options. European countries like France, Luxembourg, and Ireland have good tax treaties. For example, funds based in Ireland or Luxembourg don’t have to pay tax on cash stocks.

7. Paytm Payments Bank Appoints Arun Bansal as New CEO

Arun Kumar Bansal has been named as the new Managing Director (MD) and Chief Executive Officer (CEO) of Paytm Payments Bank, which is a subsidiary of One97 Communications (OCL). Bansal, who used to work as an executive at IDBI Bank, quit as Executive Director and Head of Treasury at IDBI Bank after the Reserve Bank of India (RBI) approved his hiring. In his letter of retirement, Bansal asked to be let go from his job at IDBI Bank by June 25 at the latest, because Surinder Chawla, who used to be MD and CEO of Paytm PB, was retiring on June 26.

Changes in leadership and resignations

For personal reasons, Surinder Chawla quit Paytm PB in April. Other high-level employees left after him, including Bhavesh Gupta, who quit as President and COO of Paytm in May, and Sumit Mathur, who quit as Chief Marketing Officer in April after working there for a year. Also, Vijay Shekhar Sharma, the founder of Paytm, quit as non-executive head of Paytm Payments Bank in March. This caused the bank’s board to be reorganized.

8. Government Appoints Robert J Ravi as New CMD of BSNL

Robert Jerard Ravi has been named Chairman and Managing Director (CMD) of Bharat Sanchar Nigam Limited (BSNL) by the Indian government. This is a big change in the telecoms industry. The state-run telecom operator will start a new age with this appointment on July 15, 2024.

Changes in Leadership

The government chose not to extend the term of the outgoing CMD, P K Purwar, which is why Ravi was hired. He was in charge of both BSNL and MTNL since July 2019, and his term ended on July 14, 2024. Even though they asked for more time, the government chose to have a new head.

9. Nagaland Crowned Best State in Horticulture: Agriculture Leadership Awards 2024

Nagaland was named the best state in gardening at the prestigious Agriculture Leadership Awards 2024. This is a big honor for the state’s work to improve agriculture. This award shows that the state is dedicated to new farming methods and helping rural areas grow.

The Award and What It Means Award Information

Since they started in 2008, the Agriculture Leadership Awards have been a way to recognize excellence and leadership in agricultural growth and rural prosperity. The awards show for 2024 was held in New Delhi as part of the 15th Agriculture Leadership Conclave.

What Nagaland Has Done

Nagaland won the horticulture area because it did a great job of coming up with new programs and policies to help horticulture grow. Many farmers and people who live in rural areas of the state have seen their lives improve thanks to these programs.