Weekly Current Affairs (8th to 14th August 2024) | Current Affairs: Daily, Weekly & Monthly - CLAT PDF Download

Vinesh Phogat Disqualified Over Weight Issues Before Match

Vinesh Phogat got disqualified because she was slightly over the weight limit for her gold medal match. Even though she gained weight the day before, she was discovered to be "a few grams over 50 kg" on the day of the competition. This incident highlights the ongoing challenges in sports like wrestling concerning weight management.

Importance of Weight in Combat Sports

• In combat sports such as wrestling, boxing, and MMA, weight classes play a vital role. They ensure that athletes compete against opponents of similar size, preventing unfair advantages due to size or strength differences. Weigh-ins are critical moments where athletes must demonstrate that they fall within their designated weight class. These weigh-ins typically occur just before events, with athletes wearing minimal clothing for accuracy. While rules vary across sports, the primary objective is to maintain fair competition.

Understanding Weight Cutting

• Weight cutting involves rapid weight loss by athletes to meet weigh-in requirements. This process often includes techniques like excessive sweating and fasting. Athletes may regain the lost weight quickly after weigh-in to gain an advantage during the competition. However, weight cutting poses significant risks. It can lead to dehydration, heart issues, and even life-threatening situations. Both the physical and mental health consequences can be severe.

The Debate: Should Weight Cutting be Banned?

• Experts hold differing opinions on whether weight cutting should be prohibited. While some advocate for a ban due to safety concerns, others argue that it can be conducted safely with proper knowledge and planning. Nevertheless, there is a lack of comprehensive research on the long-term health implications of weight cutting.

Potential Solutions

• Several organizations have prohibited extreme weight cutting practices. They implement multiple weigh-ins and hydration tests to ensure the safety of athletes. Additionally, certain groups are implementing changes to minimize the necessity for rapid weight loss before competitions.

About Vinesh Phogat

• Vinesh Phogat is an Indian wrestler recognized for her accomplishments in freestyle wrestling. Born on August 25, 1994, in Jhajjar, Haryana, she holds the distinction of being the first female wrestler from India to qualify for the Olympics in 2016. Her bronze medal at the 2019 World Wrestling Championships marked a significant achievement in her career. Vinesh comes from a family with a wrestling background and is related to Geeta and Babita Phogat. In 2020, she was honored with the Padma Shri and is renowned for her charitable endeavors in sports.

Great Barrier Reef Faces Record Temperatures, Urgent Threats

The Great Barrier Reef (GBR) faces significant challenges due to climate change. Recently, researchers have discovered that the sea's surface temperature is currently the highest in over four centuries. This rapid temperature rise has led to extensive coral bleaching, endangering the world's largest coral reef ecosystem. 

Understanding Coral Bleaching

• Coral bleaching occurs when corals undergo stress from warm water, pollution, or other harmful factors. This stress prompts them to expel vital tiny organisms known as dinoflagellates. While corals can bounce back from brief stress periods, prolonged stress can result in coral fatalities. 

Historical Background

• Coral bleaching transpires when corals face stress from warm water, pollution, or other detrimental factors. This stress causes the expulsion of essential tiny organisms called dinoflagellates. Corals can recuperate if stress is short-lived, but prolonged stress can lead to coral demise. 

Projected Future Outcomes

• Even with efforts to restrict global warming to 1.5 degrees Celsius, a substantial 70-90% loss of current corals is anticipated. Projections indicate a potential global temperature increase ranging between 1.9°C and 3.2°C by the century's end, severely impacting coral reefs and the millions reliant on them. Continuation of present trends could significantly reduce coral diversity, imperiling their ecological functions and resilience. Immediate action is imperative to safeguard the GBR. 

About the Great Barrier Reef

• The Great Barrier Reef, the largest coral reef system, spans over 2,300 kilometers and comprises around 2,900 individual reefs and 900 islands. It hosts over 1,500 fish species and sustains various marine life like turtles and dolphins. Visible from space, the reef covers roughly 344,400 square kilometers. Though coral reefs can endure for centuries, the GBR, a UNESCO World Heritage site, confronts severe risks from climate change and coral bleaching. 

IIT Guwahati Develops ML Framework LEAP for IC Design Efficiency

• Researchers at the Indian Institute of Technology Guwahati (IIT Guwahati) have created a new machine learning framework known as 'LEAP' that enhances the Electronic Design Automation (EDA) process for Integrated Circuits (ICs).
• EDA is crucial in the $600 billion semiconductor industry, converting high-level circuit designs into a format called Graphic Design System (GDS).
• Traditional Challenges in IC Design: In the past, EDA methods relied on heuristic techniques, which are not always the most optimal solutions.
• The LEAP Framework: Developed by Prof. Chandan Karfa and Dr. Sukanta Bhattacharjee, LEAP uses machine learning to streamline the EDA process, specifically in technology mapping.
• Efficiency Improvements with LEAP:LEAP reduces the number of configurations to be evaluated, resulting in a 50% time reduction and a 51% decrease in checked configurations.
• Integrated Circuits:ICs combine multiple components on a single chip, revolutionizing electronics and following Moore's Law.
• About Indian Institute of Technology Guwahati: Established in 1994, it is the sixth Indian Institute of Technology located on a 700-acre campus by the Brahmaputra River.

India Plans LLP Act Changes to Boost Domestic Audit Firms

India’s government is considering changes to the Limited Liability Partnership (LLP) Act and related rules to strengthen domestic accounting firms. The goal is to make it easier for these firms to merge and grow larger, potentially creating big domestic audit companies that can compete with the Big Four global firms.

What is the Limited Liability Partnership (LLP) Act?

• The Limited Liability Partnership (LLP) Act was introduced in India in 2008 (and in the UK in 2000). It allows businesses to have the flexibility of a partnership while also providing limited liability protection for a corporation. This means that the partners’ personal assets are protected from the business’s debts. LLPs must file annual returns and follow certain regulations, ensuring transparency and accountability. Members of an LLP can be involved in management without risking their liability protection. LLPs are popular among professionals like lawyers and accountants.

Government’s Initiative

• The Ministry of Corporate Affairs (MCA) is planning to include these proposed changes in its 100-day action plan. Amendments to the LLP law and the Companies Act may be introduced in the upcoming winter session of Parliament in December.

ICAI’s Role

• The Institute of Chartered Accountants of India (ICAI) is working with the MCA to update its rules. The goal is to make it easier for accounting firms to merge, allowing them to become large enough to serve big companies.

New Merger Guidelines

• Extended Separation Period: After merging, accounting firms can choose to stay separate for up to 10 years (an increase from the previous limit of five years).

Name Retention: 

• If the firms separate later, they can keep their original names without paying a fee to reserve those names.

Importance of Scale in Audit Firms

• With India’s economy growing rapidly, there is a rising demand for accounting and auditing services. Larger domestic firms would be better equipped to handle this demand and could also attract international clients. The new rules also allow one LLP to join another for collaborative work while keeping their separate identities. This setup is similar to a “live-in relationship,” where firms can test their compatibility before deciding on a full merger.

Facts About the Institute of Chartered Accountants of India (ICAI)

• The Institute of Chartered Accountants of India (ICAI) was founded in 1949.
• It is the second-largest accounting body in the world.
• ICAI’s emblem features a balance scale and a lamp, representing knowledge.
• ICAI conducts the Chartered Accountant (CA) exam, one of the toughest in India.
• It has over 300,000 members and more than 800,000 students.
• ICAI operates under the Ministry of Corporate Affairs.
• ICAI promotes good accounting practices in India and works with global accounting groups.

Cabinet Approves Pradhan Mantri Awas Yojana-Urban 2.0

• The Union Cabinet sanctioned a new version of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) program, aimed at assisting ten million urban poor and middle-class families in finding housing. PMAY-U, also known as the Prime Minister's Housing Scheme, is a significant government endeavor to provide durable homes to eligible individuals in cities, particularly those with low incomes. 

Overview of PMAY-U: 

• Launched in 2015, the Pradhan Mantri Awas Yojana (PMAY) strives to ensure affordable housing for all by 2022. The scheme extends financial aid to both urban and rural underserved populations for constructing residences. It comprises two segments: PMAY-U for urban areas and PMAY-G for rural regions. Qualified participants can avail interest subsidies on home loans up to INR 2.67 lakh, with a focus on constructing over 20 million sustainable and innovatively built homes. 

Current Achievements: 

• PMAY-U has sanctioned 1.18 crore residences, with more than 85.5 lakh homes already completed and allocated to beneficiaries. The new iteration, PMAY-U 2.0, will provide financial backing for the next five years, supported by a government subsidy of INR 2.30 lakh crore within a total investment of INR 10 lakh crore. The Credit Risk Guarantee Fund's available amount has surged from INR 1,000 crore to INR 3,000 crore, enhancing loan guarantee facilities for affordable housing targeting economically weaker sections (EWS) and low-income groups (LIG). 

Eligibility Criteria: 

• To qualify for PMAY-U 2.0, families must fall under the EWS, LIG, or middle-income categories and not possess a permanent residence anywhere in India. The initiative encompasses all towns delineated in the 2011 Census, along with planning zones and areas under urban planning authorities. 

Credit Risk Guarantee Fund: 

• A mechanism aiding small and medium-sized enterprises in securing loans by furnishing guarantees to lenders, thereby mitigating their lending risks. This fund aims to enhance financial access for businesses encountering difficulties in obtaining loans, collaborating with financial institutions and government bodies, and covering loan defaults triggered by natural calamities. CRGF initiatives operate at either a national or regional scale, intending to bolster economic growth and job creation. 

About Economically Weaker Section (EWS): 

• In India, EWS denotes individuals earning less than INR 8 lakh annually. Instituted in 2019, EWS reservations confer 10% benefits in employment and education. This classification hinges on family income rather than caste, striving to aid financially disadvantaged persons irrespective of their caste. Comparable classifications exist in other nations using different terminologies. EWS beneficiaries in India can access diverse government programs to uplift their economic status. 

JUICE Mission Sets to Break Records with Lunar-Earth Flyby

What is the JUICE Mission?

• JUICE stands for JUpiter ICy moons Explorer, a spacecraft designed to explore Jupiter's moons like Europa, Ganymede, and Callisto to see if they could host life.

Execution of the Flyby

•  On August 19, 2023, at 21:16 UTC, JUICE will pass near the Moon to adjust its speed. 
•  Around 25 hours later, it will approach Earth to further adjust its trajectory using Earth's gravity. 

Challenges of the Maneuver

•  The maneuver demands precise timing and positioning to avoid jeopardizing the mission. Any error could have severe consequences. 
•  The primary aim of the mission is to investigate if Jupiter's icy moons could sustain life. 

Benefits of the Flyby

•  The Lunar-Earth gravity assist (LEGA) will conserve fuel for JUICE's upcoming tasks, enabling it to approach Ganymede closely for detailed observations. 
•  This maneuver offers an opportunity to validate the spacecraft's instruments in space before its comprehensive studies of Ganymede and other moons. 

Facts about JUICE mission

•  The JUICE mission, spearheaded by the European Space Agency (ESA), aims to explore Jupiter's moons, particularly Europa, Ganymede, and Callisto. 
•  Launched in April 2023, the mission will require eight years to reach Jupiter. 
•  The spacecraft is equipped with ten scientific tools to investigate the icy surfaces and potential subterranean oceans of the moons. 
•  Discoveries from this mission could offer insights into the possibility of life beyond Earth. 
•  JUICE will also examine Jupiter's magnetic field and atmosphere, providing vital data for planetary science. 

IIT Indore Unveils Advanced  Shoes with TENG Technology

•  IIT Indore has developed special shoes using a unique technology known as Tribo-Electric Nanogenerator (TENG). These shoes aim to enhance safety and efficiency for military personnel and have potential applications in various other fields. 

What is TENG Technology?

•  TENG technology converts the motion of steps into electrical power. By walking, each step generates and stores energy in the shoe, which can then be utilized to operate small electronic gadgets. The shoes are also equipped with GPS for real-time location monitoring, aiding military personnel in maintaining awareness of their whereabouts and improving coordination. 

Safety and Efficiency in Military Operations

•  The real-time location information obtained from these shoes can significantly boost safety and coordination among soldiers, enabling better connectivity and environmental awareness. Apart from military applications, these shoes could prove beneficial in sports for tracking athletes' movements, monitoring health for different age groups, and managing workforce attendance in industrial settings. 

Delivery to DRDO

•  The initial batch of 10 pairs of these advanced shoes has been dispatched to the Defence Research and Development Organisation (DRDO) for testing and evaluation. Spearheaded by Professor Suhas Joshi at IIT Indore, with support from Professor I A Palani, this initiative underscores the institution's commitment to pioneering technological advancements. 

About Tribo-Electric Nanogenerator (TENG)

•  Tribo-Electric Nanogenerators (TENGs) are devices that convert movement into electrical energy through a phenomenon called the triboelectric effect. These devices utilize two distinct materials that produce an electric charge upon contact and separation. 
•  TENGs harness energy from daily activities like walking and sensing vibrations. They can be constructed from various materials, including polymers and metals, making them versatile and lightweight. Their wearable design makes them ideal for integration into wearable technology solutions. 

India Completes  Paris Olympics 2024 With Six  Medals

The Paris Olympics 2024 concluded with India securing a total of six medals: one silver and five bronze. This was a drop from the seven medals, with one being gold, that India earned at the 2020 Tokyo Olympics. India had 117 athletes participating across 16 different sports. The performance highlighted India's prowess in shooting and field hockey, even though there were fewer medals overall compared to the last Olympics. 

Medal Highlights

• Neeraj Chopra: Silver in Men's Javelin Throw (Athletics)
• Indian Men's Hockey Team: Bronze
• Manu Bhaker: Bronze in Women's 10m Air Pistol (Shooting)
• Swapnil Kusale: Bronze in Men's 50m Rifle 3 Positions (Shooting)
• Manu Bhaker and Sarabjot Singh: Bronze in 10m Air Pistol Mixed Team (Shooting)
• Aman Sehrawat: Bronze in Men's Freestyle 57kg (Wrestling)

Searchable Event List

• A detailed list of all events that India partook in at the Paris Olympics 2024 is accessible. The list covers rounds contested and results across various sports categories like archery, athletics, badminton, boxing, and more. You can explore timings and performances for specific events by searching within the comprehensive list using the provided guidelines. This resource aids in navigating through India's participation and results in the Olympics.

Facts About Paris Olympics 2024

• Paris hosted the Olympics for the third time: in 1900, 1924, and now in 2024.
• Breakdancing is a new official sport in the Olympics.
• The Games ran from July 26 to August 11, 2024.
• The opening ceremony took place on the Seine River, a first in Olympic history.
• The Games aimed to be the most sustainable ever.
• About 32 sports were featured.
• More than 10,000 athletes from 196 nations participated.

What is Alberta Advantage Immigration Program?

• The Alberta Advantage Immigration Program (AAIP) helps skilled people apply for permanent residency in Alberta to fill job gaps and back business growth. 
• Eligibility and Selection: Successful nominees and their families can pursue permanent residency based on their skills and potential to boost Alberta's economy. 

Worker Pathways:

• Alberta Opportunity Stream: For foreign workers in Alberta with job offers, meeting specific criteria. 
• Alberta Express Entry Stream: Nominates candidates from the Express Entry pool, enhancing chances for permanent residency. 
• Alberta Accelerated Tech Pathway: Speeds up tech professionals' immigration with job offers in high-demand roles. 

Entrepreneur Pathways:

• Rural Entrepreneur Stream: Supports businesses in rural Alberta. 
• Farm Stream: For experienced farmers starting operations in Alberta. 
• Graduate Entrepreneur Stream: For international grads planning businesses in Alberta. 
• Foreign Graduate Entrepreneur Stream: For recent international graduates setting up businesses. 

Closed Streams:

• Alberta Strategic Recruitment Stream: Previously focused on specific jobs. 
• Alberta Employer-Driven Stream: Provided pathways for job offer holders in Alberta. 
• Next Steps: Alberta's nominee draws are schedule-dependent. Stay updated on AINP's website or subscribe for notifications. 

What is Dynamic Reference Rate?

• India and Russia plan to create a "dynamic reference rate" for their currencies, the Indian Rupee (INR) and the Russian Rouble (RUB), to simplify financial transactions and reduce the impact of U.S. sanctions on Russia.

Current Challenges:

• Converting INR to RUB involves multiple steps, including conversion to USD, complicated further by U.S. sanctions limiting Russian banks' access to global financial systems.
• Large amounts of INR held by Russian banks due to trade imbalances pose additional challenges.

Proposed Solutions:

• India and Russia aim to establish a direct exchange rate between INR and RUB, adjusted by their respective central banks.
• Possibility of Russian investments in Indian financial markets to strengthen economic ties.

Continuation of US Sanctions:

• U.S. sanctions persist, limiting Russian banks' access to global financial services and emphasizing the need for improved INR-RUB exchange systems.

India's Strategic Moves:

• Efforts to reduce reliance on the U.S. dollar discussed by Indian and Russian leaders, part of broader BRICS initiative.
• Establishment of digital platforms for cross-border trade to avoid dollar usage.

BRICS Initiative:

• Exploration of a new reserve currency backed by BRICS countries' currencies, with blockchain technology projects underway for financial integration.

About Dynamic Reference Rate (DRR):

• DRR adjusts to real-time market conditions, serving as a benchmark for financial products, offering transparency and stability during market fluctuations.
• Increasing use of DRR, especially in emerging markets, as digital finance evolves.

Bengaluru Researchers Discover Three New Edible Bug Species

• Entomologists from the Ashoka Trust for Research in Ecology and the Environment (ATREE) in Bengaluru have recently found three new types of bugs that people eat in North-East India. 

Significance of the Findings:

•  The research has listed more than 500 edible insects, showing how important they are in local diets. 
•  Finding these new bugs shows that more people are starting to see the value in eating insects and how it can help make food sustainably. 

Identification of New Species:

•  The bugs are from the group Coridius and are in the family Dinidoridae. They are 15 mm to 25 mm in size and mainly eat plant sap. 
•  Scientists used many ways to find these bugs, like looking at their genes, measuring their bodies, and using traditional ways to name them. 
•  The new bugs are called Coridius adii, Coridius esculentus, and Coridius insperatus. 

Health Concerns and Ecological Studies:

•  While some bugs can make people sick, like causing problems with light sensitivity, we need to learn more about how safe it is to eat different bugs. 
•  It's important to write down what we know about these bugs from local people and to let them take care of their bugs and follow their traditions. 
•  Around two billion people eat bugs around the world, with over 2,000 types that are okay to eat. This study helps show that bugs can be a good source of protein that's also good for the environment. 

Facts About Ashoka Trust for Research in Ecology and the Environment (ATREE):

•  ATREE started in 1996 and works on nature research, policies, and talking with communities. 
•  They use many different ways to solve nature problems. 
•  ATREE helps protect animals and plants. 
•  They are part of projects about climate change, saving animals, and city nature.