Today in History (August 24^th, 1908)

August 24th, 1908, witnessed the birth of a revolutionary soul, Rajguru, whose fervor and commitment to the cause of Indian independence resonated through the annals of history. His indomitable spirit and sacrifice remain emblematic of the resolute struggle for freedom.

TEST YOURSELF

A) Bangladesh blamed a dam in India, for floods, this dam is located in which state?

1. West Bengal
2. Assam
3. Tripura
4. Meghalaya

Answer: 3)
Rationale: The Indian Ministry of External Affairs (MEA) has refuted claims that the floods in eastern Bangladesh were caused by the release of water from the Dumbur dam in Tripura.

B) Bangladesh blamed a dam in India, for floods, what is the name of this dam?

1. Dumbur
2. Maharana Pratap dam
3. Gandhi Sagar Dam
4. None of the above

Answer: 1)
Rationale: The Indian Ministry of External Affairs (MEA) has refuted claims that the floods in eastern Bangladesh were caused by the release of water from the Dumbur dam in Tripura.

C) Which state government has introduced a Bill to repeal the 89-year-old Moslem Marriages and Divorces Registration Act of 1935, citing concerns about misuse and child marriage.

1. Meghalaya
2. Assam
3. Tripura
4. Manipur

Answer: 2)
Rationale: The Assam government introduced a Bill to repeal the 89-year-old Assam Moslem Marriages and Divorces Registration Act of 1935, citing concerns about misuse and child marriage.

D) When did Ukraine become independent from the Soviet Union?

1. 1989
2. 1990
3. 1991
4. 1992

Answer: 3)
Rationale: Ukraine became independent when the Soviet Union disintegrated in 1991.

E) What region in eastern Ukraine experienced a separatist insurgency in 2014?

1. Crimea
2. Donetsk Basin
3. Lviv
4. Odessa

Answer: 2)
Rationale: A separatist insurgency started in Ukraine’s eastern industrial heartland, Donetsk Basin, in 2014.

F) Which country annexed Crimea in 2014?

1. United States
2. Germany
3. Russia
4. Poland

Answer: 3)
Rationale: Russia invaded and annexed Crimea in 2014.

G) Which organizations have pledged to safeguard the integrity of Ukraine’s borders?

1. NATO and the UN
2. US and EU
3. G7 and G20
4. IMF and World Bank

Answer: 2)
Rationale: Both the US and the EU have pledged to safeguard the integrity of Ukraine’s borders.

H) What is the capital city of Ukraine?

1. Lviv
2. Odessa
3. Kyiv
4. Kharkiv

Answer: 3)
Rationale: The capital city of Ukraine is Kyiv.

Summary of Today’s News

Not neutral, India on the side of peace, says Modi in Ukraine

• Historic Visit: Indian Prime Minister Narendra Modi visited Kyiv, marking the first visit by an Indian Prime Minister to Ukraine since its independence in 1991.
• Commitment to Peace: Modi assured Ukrainian President Volodymyr Zelenskyy of India’s commitment to peace and support for Ukraine’s territorial integrity. Modi emphasized that India is on the side of peace, not neutral.
• Agreements Signed: Four agreements were signed covering humanitarian aid, high-capacity development projects, agricultural and cultural cooperation, and drug regulation.
• India’s Role in Conflict Resolution: Modi and Indian External Affairs Minister S. Jaishankar expressed India’s willingness to help end the conflict and support peace initiatives, including participation in the Peace Summit in Switzerland.
• Humanitarian Tribute: Modi and Zelenskyy honored the memory of children affected by the conflict, and Modi placed a toy as a tribute during his visit.
• Discussion on Economic Impact: Zelenskyy pointed out India’s significant economic influence on Russia due to its purchase of Russian oil and goods.
• Extended Talks: The meeting between Modi and Zelenskyy, initially scheduled for 30 minutes, extended to two and a half hours, reflecting a deep and constructive discussion.

Anil Ambani and 24 others banned by SEBI; fined ₹624 cr.

• Ban and Fine: SEBI has banned Anil Ambani and 24 others from the securities market for five years due to their involvement in diverting funds from Reliance Home Finance Ltd. (RHFL). A total fine of ₹624 crore has been imposed.
• Restraints on Ambani: Anil Ambani is prohibited from being associated with the securities market or holding any director or key managerial positions in listed companies or their associates for five years.
• Penalties:
• Anil Ambani fined ₹25 crore.
• 21 entities fined ₹25 crore each.
• RHFL’s KMPs Amit Bapna, Ravindra Sudhalkar, and Pinkesh R. Shah fined ₹27 crore, ₹26 crore, and ₹21 crore respectively.
• RHFL fined ₹6 lakh.
• Fraudulent Activities: SEBI’s order states that there was systematic asset stripping and fraudulent disbursement of loans at RHFL, leading to significant financial losses and erosion of shareholder wealth.
• Investigation Findings: The investigation revealed fraudulent schemes involving General Purpose Working Capital (GPC) loans that were declared non-performing assets (NPA). The funds were allegedly diverted to promoter-linked entities.
• Misconduct: RHFL KMPs were found to have exhibited gross misconduct in approving loans that benefited other Reliance ADA Group entities, contributing to the financial damage.
What is Securities and Exchange Board of India (SEBI)?
• The Securities and Exchange Board of India (SEBI) is a statutory body established by the Government of India in 1992 to regulate the securities market in India. It is the apex regulatory authority for the securities market. It aims to protect the interests of investors and promote the development of the securities market. It ensures fair and efficient practices in the securities market.
Securities and Exchange Board of India (SEBI): An Overview
Full form of SEBI : Securities and Exchange Board of India
Year of formation : 1988
Headquarter : Mumbai, Maharashtra
Chairman : Ms. Madhabi Puri Buch (first-female chairperson)

The Security and Exchange Board of India(SEBI) has four regional offices located in New Delhi, Kolkata, Chennai, and Ahmedabad,

Ukrainian President hope Indian stance can stop Putin

• Zelenskyy’s Statement: Ukrainian President Volodymyr Zelenskyy stated that if India changes its stance on Russian oil purchases, the war in Ukraine could end, as Russian President Vladimir Putin would face significant challenges without this revenue.
• India’s Influence: Zelenskyy highlighted India’s significant impact on the Russian economy due to its large-scale oil purchases from Russia.
• Discussion with Modi: During talks with Indian Prime Minister Narendra Modi, Zelenskyy emphasized India’s oil purchases and suggested that halting these imports would pressure Putin.
• Energy Market Explanation: Indian External Affairs Minister S. Jaishankar explained to Zelenskyy the complexities of the global energy market and the need for stable and reasonable oil prices.
• Meeting Highlights: Zelenskyy described his meeting with Modi as historic but expressed dissatisfaction with India’s previous stance on UN resolutions concerning the conflict.
• Future Collaboration: Zelenskyy expressed a desire for closer collaboration between Ukraine and India, including opportunities in high-tech and defense sectors.
• Market Constraints: Jaishankar noted that global sanctions on energy producers and market constraints affect India’s oil import strategy, influencing its oil purchasing decisions.

Directorate General of Civil Aviation imposed fine on Air India

• Fine Imposed: Air India has been fined ₹90 lakh by the Directorate General of Civil Aviation (DGCA) for a pilot pairing error on a Mumbai to Riyadh flight on July 9.
• Error Details: The flight included a trainee pilot paired with a non-training pilot, contrary to regulations requiring a line training captain, type rating instructor, or designated examiner for trainee pilots.
• Previous Penalties: This is the eighth penalty imposed on Air India by the DGCA since January 2023, totaling ₹4.45 crore.
• Director Penalties: The DGCA fined Air India’s director of operations, Pankul Mathur, ₹6 lakh, and the director of flight training, Manish Vasavada, ₹3 lakh. Vasavada’s permission to hold the director of training position has been suspended for six months.
• Incident Details: The trainee pilot was scheduled to fly with a training captain who fell ill. The replacement with a non-training captain led to the regulatory breach.
• Voluntary Reporting: The cockpit crew realized the error mid-flight and voluntarily reported the incident after landing in Riyadh.
• Investigation Findings: The DGCA’s investigation revealed multiple lapses, though specifics were not disclosed.