11th July, 2024 Current Affairs

NATIONAL
DRDO sanctions seven new projects to the private sector under Technology Development Fund scheme

• Providing impetus to Aatmanirbharta, Defence Research & Development Organisation (DRDO) has awarded seven new projects to industries under the Technology Development Fund scheme for various requirements of the Armed Forces and aerospace & defence sectors. These project sanctions are a testimony to the continuing endeavour of DRDO in nurturing Industries, especially MSMEs & start-ups, in defence and aerospace domains. The indigenous development of these technologies will strengthen the military industrial ecosystem.
• The project involves development of an indigenous toolkit for simulator training of pilots in realistic scenarios. This will help in full mission planning and large force engagement. The project has been awarded to start-up, Oxygen 2 Innovation Pvt Ltd, Noida.
• The project relates to a versatile marine battlefield accessory which can be deployed in multiple combat roles. The objective is Intelligence, Surveillance and Reconnaissance (ISR) and Maritime Domain Awareness (MDA). The project has been awarded to Sagar Defence Engineering Pvt Ltd Pune.
• The project aims to develop detecting icing condition inflight, caused by super cooled water droplets that freezes after their impact against the aircraft external surfaces and is utilised by the aircraft for turning on the aircraft Anti-icing mechanism. It has been awarded to Craftlogic Labs Pvt Ltd, Bengaluru.

INTERNATIONAL
Colombo Security Conclave Welcomes Bangladesh as Fifth Member

• The Colombo Security Conclave (CSC), a regional security grouping, welcomed Bangladesh as its fifth member at the 8th Deputy National Security Adviser (DNSA) level meeting hosted virtually by Mauritius. The CSC includes India, Sri Lanka, Mauritius, and the Maldives, with Seychelles participating as an Observer State.
• Bangladesh was officially welcomed into the CSC, expanding the grouping that initially included India, Sri Lanka, and the Maldives. Mauritius joined in March 2022, and Bangladesh’s inclusion further strengthens the regional security framework.
• The CSC was established in 2020 to expand the scope of maritime cooperation among India, Sri Lanka, and the Maldives. Mauritius joined in 2022, and Bangladesh’s inclusion marks a significant expansion of the conclave’s membership and regional influence.

World Population Day 2024

• As July 11th approaches, the world prepares to observe World Population Day, an annual event that has become increasingly significant in our rapidly changing global landscape. Established by the United Nations in 1989, this day serves as a crucial platform for raising awareness about pressing population issues that affect every corner of our planet.
• The inception of World Population Day can be traced back to a pivotal moment in human history. On July 11, 1987, the world’s population reached an unprecedented milestone of 5 billion people.
• The theme for World Population Day 2024, “Leave no one behind, count everyone,” underscores a critical aspect of population dynamics and sustainable development.

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ECONOMY
REC Raises 31.96 Billion Japanese Yen Through 5-Year Green Loan

• REC Limited, a leading lender in the power sector, has successfully secured a 5-year green loan amounting to 31.96 billion Japanese yen (approximately $200 million). The transaction, facilitated by Deutsche Bank’s Gift City branch, marks one of the initial yen-denominated green loan deals for the bank in India.
• The raised capital will be exclusively allocated to financing environmentally sustainable projects across India. REC has affirmed its dedication to bolstering green energy finance and enhancing capabilities in sustainable project development.

SCIENCE AND TECHNOLOGY
Europe’s Ariane 6 Rocket Launched After 4-Year Delay

• Europe’s new Ariane 6 rocket successfully blasted off for the first time, restoring the continent’s independent access to space after a series of setbacks. Initially delayed for an hour by a small problem, the rocket lifted off from Kourou, French Guiana, releasing satellites into orbit. This launch marked a significant milestone for European space efforts, which had suffered from delays and loss of independent launch capabilities.
• “It’s a historic day for Europe,” declared European Space Agency (ESA) head Josef Aschbacher. Philippe Baptiste, head of France’s CNES space agency, echoed this sentiment, stating, “Europe is back.” The successful launch restored Europe’s capability to independently send missions into space.
• The Ariane 6 rocket has 29 missions booked, including deployments for Amazon’s Kuiper constellation of internet satellites.
• Europe’s space efforts had been hindered by various challenges, including the withdrawal of Russia’s Soyuz rockets and the grounding of Europe’s Vega-C launcher. The successful launch of Ariane 6 is a significant step forward in overcoming these setbacks and achieving European space sovereignty.