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Current Affairs Daily Digest – August 29 2024

1. Reliance AGM 2024: Mukesh Ambani Unveils ‘Jio Brain’ AI Suite

At the 47th Annual General Meeting of Reliance Industries, Chairman Mukesh Ambani shared exciting news about artificial intelligence (AI). The company’s telecom division, Reliance Jio, is launching a new set of AI tools and applications called ‘Jio Brain.’ Overview Jio Brain is a complete AI system that offers a wide range of tools for businesses. It combines Jio’s 5G network with advanced AI technologies to provide powerful solutions.

Key Features

• 5G Integration: Jio Brain uses the fast speed and quick response of 5G networks to improve AI performance.
• Edge Computing: The system can process AI models close to where the data is collected, making it faster and more efficient.
• Pre-built Algorithms: Businesses can use ready-made algorithms without needing to create, train, or maintain them themselves.

Advanced Features

• Automatically creating useful data features
• Fine-tuning AI model settings
• Combining data from different sources
• Options to retrain AI models automatically or manually

2. TCS Launches Pace Studio in Philippines to Boost Digital Innovation

Tata Consultancy Services (TCS) has opened its fifth TCS Pace Studio in Manila, Philippines, to promote digital innovation throughout the Asia-Pacific region. This new studio is part of TCS’s global Pace network, which also includes studios in Riyadh, Sydney, Letterkenny, and Stockholm, along with Pace Ports in cities like Tokyo, Amsterdam, New York, and London.

Strategic Location and Features

Located in TCS’s Panorama Tower office, the Manila Pace Studio will feature TCS’s latest platforms, including TCS AI WisdomNext, TCS TwinX, and TCS Zero Carbon Platform. The studio will use advanced technologies like artificial intelligence, cloud computing, cybersecurity, and data analytics to develop custom solutions for clients.

3. Cabinet Approves Setting Up of 12 Industrial Smart Cities In 10 States

The Cabinet Committee on Economic Affairs, led by Prime Minister Narendra Modi, has approved 12 new projects as part of the National Industrial Corridor Development Programme (NICDP). This major initiative, with an estimated investment of Rs. 28,602 crore, aims to reshape India’s economic landscape by creating a strong network of industrial hubs and cities, which will drive economic growth and increase global competitiveness.

Strategic Vision

The new phase of the NICDP covers 10 states and is strategically planned along 6 major industrial corridors. The key industrial areas will be located in:

• Khurpia, Uttarakhand
• Rajpura-Patiala, Punjab
• Dighi, Maharashtra
• Palakkad, Kerala
• Agra and Prayagraj, Uttar Pradesh
• Gaya, Bihar
• Zaheerabad, Telangana
• Orvakal and Kopparthy, Andhra Pradesh
• Jodhpur-Pali, Rajasthan

This broad distribution ensures that industrial growth benefits are spread across various regions, helping to promote balanced development throughout the country.

4. Subhasri Appointed MD & CEO Of Shriram Capital

Shriram Capital, the parent company of the Shriram Group, has appointed Subhasri as its new Managing Director and CEO, effective from 1 September. Subhasri, who previously served as Joint Managing Director, has been an important part of the company since she joined as an Officer in the Non-Banking Financial Company (NBFC) business in 1991.

About Subhasri

Subhasri is a Fellow of the Institute of Company Secretaries of India and the Institute of Cost & Works Accountants of India. She has previously held roles as Executive Director and CFO of Shriram City Union Finance (now Shriram Finance) and Joint Managing Director of Shriram Capital Pvt Ltd.

5. Uttar Pradesh Digital Media Policy

The Uttar Pradesh government has introduced the Digital Media Policy, 2024, to encourage social media influencers to promote the state’s initiatives, schemes, and achievements on various online platforms. The goal is to increase awareness of government projects and create job opportunities within the state.

Policy Details

The policy, approved by the Uttar Pradesh Cabinet, outlines a payment structure for influencers based on their online presence. Influencers can earn up to ₹8 lakh per month, depending on the platform and their category. The payment breakdown is as follows:

• X (formerly Twitter), Facebook, Instagram: Influencers can receive ₹5 lakh, ₹4 lakh, ₹3 lakh, or ₹2 lakh.
• YouTube Videos, Shorts, and Podcasts: Influencers can earn up to ₹8 lakh, ₹7 lakh, ₹6 lakh, or ₹4 lakh.

6. India’s 2nd Nuclear Missile Submarine Commissioned by Rajnath Singh

Defence Minister Rajnath Singh will commission India’s second nuclear-powered ballistic missile submarine (SSBN), INS Arighat (S-3), at a low-key event in Visakhapatnam. This marks a significant enhancement of India’s nuclear deterrence and second-strike capability. The submarine, equipped with 750-km range K-15 nuclear ballistic missiles, will operate under India’s strategic command in the Indo-Pacific region.

Event and Attendees

The commissioning ceremony will be attended by Chief of Naval Staff Admiral Dinesh Tripathi, Vice Admiral Suraj Berry (head of Indian Strategic Command), and senior officials from the Defence Research and Development Organisation (DRDO).

7. PM chairs 44th PRAGATI Interaction

On August 28, Prime Minister Shri Narendra Modi chaired the 44th edition of PRAGATI, a technology-driven platform for Pro-Active Governance and Timely Implementation that involves both the Centre and State governments. This meeting was the first in his third term.

Review of Seven Major Projects

During the meeting, seven major projects were reviewed, including two road connectivity projects, two rail projects, and one project each in the Coal, Power, and Water Resources sectors. These projects, with a combined cost of over ₹76,500 crore, impact 11 States and Union Territories: Uttar Pradesh, Uttarakhand, Jharkhand, Maharashtra, Rajasthan, Gujarat, Odisha, Goa, Karnataka, Chhattisgarh, and Delhi.

8. Iran Appoints Fatemeh Mohajerani As First Female Government Spokesperson

For the first time in Iran, a woman has been appointed as the government spokesperson. Iranian President Masoud Pezeshkian proposed the appointment, which was approved by the Cabinet of Ministers. Fatemeh Mohajerani will take on this historic role.

Who is Fatemeh Mohajerani?

Dr. Fatemeh Mohajerani was previously the head of the Technical and Vocational Training University of Shariati, which focuses on women, during Iran’s 11th government. An esteemed academician and administrator, she has also served as the chief of the Center for Brilliant Talents, appointed by then-Education Minister Seyyed Mohammad Bat’hai in 2017. Mohajerani has held various roles in Iran’s Education Ministry throughout her career.

9. Satish Kumar Appointed as Railway Board Chairman and CEO

The Appointments Committee of the Cabinet (ACC) has approved a leadership change at the top of Indian Railways, one of the world’s largest railway networks.

The Appointment

Satish Kumar has been appointed as the new Chairman and Chief Executive Officer (CEO) of the Railway Board. This key decision is expected to shape the future direction and operations of Indian Railways.

Tenure Details

• Assumption of Charge: September 1, 2024
• Initial Term: Until Mr. Kumar’s superannuation
• Extended Term: Re-employment on a contract basis from January 1 to August 31, 2025
• Conditions: Subject to standard terms and conditions or until further orders, whichever comes first