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Current Affairs Daily Digest – August 23 2024

1. Diana Pundole: First Indian Woman Racer to Win National Championship

Diana Pundole, a teacher and mother from Pune, has made history by becoming the first Indian woman to win the national championship in the saloon car category at the MRF Indian National Car Racing Championship 2024, held in Chennai. Her achievement is remarkable because car racing is usually dominated by men, showing her incredible determination and skill.

A Victory with Sacrifice

On August 18, 2024, during her birthday weekend, Diana achieved this milestone. To help her stay focused, her coach took away her cell phone, so she missed out on birthday wishes. However, this small sacrifice led to a big victory, and Diana was celebrated by friends, family, and supporters when she got her phone back after the race.

2. India and Denmark Collaborate on Clean River Initiative

India and Denmark have teamed up to create a Smart Laboratory on Clean Rivers (SLCR) as part of their Environmental Strategic Partnership. The project has received Rs 16.8 crore from India’s Jal Shakti Ministry and an additional Rs 5 crore from Denmark. The main goal is to restore the Varuna River using advanced technology and a thorough river management plan over the next 2-3 years.

Project Overview

The SLCR will use special hydrological models to study how water flows and behaves in the Varuna River. This will help in creating a detailed strategy for managing the river. The project will include real-time monitoring and tools to visualize data, making it easier to make informed decisions about water management. A specific part of the Varuna River will be the focus of this project, where targeted efforts will be made to boost both the local economy and social development, all while keeping the river healthy.

3. India’s KAPS-4 Nuclear Plant Achieves Full Capacity

The Kakrapar Atomic Power Station (KAPS) in Gujarat, India, has now fully operationalized its second 700 MW nuclear reactor, KAPS-4, which began running at full power on August 21, 2024. This comes after the reactor started commercial operations on March 31, 2024, and first reached a critical milestone on December 17, 2023. Before hitting its full capacity, the reactor was running at 90% power. The Nuclear Power Corporation of India Limited (NPCIL) confirmed this progress.

Reactor Overview

KAPS-4 is a 700 MW Pressurized Heavy Water Reactor (PHWR), developed entirely with Indian technology. Its full power operation, along with its twin reactor KAPS-3, highlights the success and reliability of India’s PHWR design.

4. Ashwini Vaishnaw Launches ‘Create In India Challenge-Season One’

On August 22, Information and Broadcasting Minister Ashwini Vaishnaw launched the ‘Create in India Challenge-Season One’ in New Delhi, ahead of the upcoming World Audio Visual and Entertainment Summit (WAVES). During the launch, Mr. Vaishnaw mentioned that the challenge includes 25 different tasks, reflecting the growth of the Indian economy and the influence of new technologies.

Create in India Challenge-Season One

The WAVES Summit, set to be held for the first time, has already received a lot of positive feedback. Due to this enthusiasm, the Ministry is planning to organize the summit on a larger scale. Mr. Vaishnaw expressed that WAVES is expected to become an important event shortly, with these 25 challenges playing a key role. He also highlighted that the Government of India supports the new creator economy because it has the potential to generate employment opportunities.

5. Deepti Gaur Mukherjee Assumes Charge as MCA Secretary

Deepti Gaur Mukherjee, a 1993 batch IAS officer from the Madhya Pradesh cadre, has become the new Secretary of the Ministry of Corporate Affairs (MCA), taking over from Manoj Govil, who is now the Expenditure Secretary. Before this, Mukherjee was the CEO of the National Health Authority.

As the new MCA Secretary, Mukherjee starts her role at an important time when the Ministry is working on several key reforms. These include drafting the new Digital Competition Bill, introducing IBC 2.0 (the next phase of the Insolvency and Bankruptcy Code), and improving the capacity of the National Company Law Tribunals (NCLTs). The MCA is also preparing to implement parts of the Competition Act 2023, which is the most significant update to competition law since 2002.

6. PhonePe Launches ‘Credit Line on UPI’ for Enhanced Flexibility

PhonePe’s ‘Credit Line on UPI’ feature allows users to link their bank credit lines to UPI, making it easy to make payments at millions of merchants. This feature, supported by the RBI’s recent UPI expansion, provides short-term credit, making transactions more convenient and offering users greater financial flexibility. Merchants using PhonePe Payment Gateway (PG) can integrate this option to reduce cart abandonment and increase sales.