The 33rd edition of the Olympics started in Paris.

• The Paris 2024 Games will see 32 different sports being played.
• Breakdancing (Breaking), surfing, skateboarding, sport climbing are added in this olympics.

About Olympics

• The first-ever Olympics were held in Athens, Greece in 1896. Since then, the Olympic Games are held every four years.
• The five Olympic rings symbolise the ‘five parts of the world’ in which the Olympic movement prevails.
• The Olympic motto is ‘Citius-Altius-Fortius’. The three Latin words translate to ‘Faster-Higher-Stronger’ in English.

India has taken over the Chair of ADPC from People Republic of China for the year 2024-25.

About ADPC

• Autonomous International Organization for cooperation in and implementation of disaster risk reduction and building climate resilience in Asia and the Pacific region.
• India and eight neighbouring countries are the founding members of ADPC.
• It was established in 1986 as a regional disaster preparedness center (DMC) in Bangkok, Thailand. 

India Calls For Cooperation in BIMSTEC On Counter-Terrorism And Combating Drug Trafficking Among Others.

About BIMSTEC

• It is a regional organization that was established in 1997 with the signing of the Bangkok Declaration.
• Comprises seven Member States: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Nepal, Bhutan.
• Secretariat: Dhaka, Bangladesh

India is 2nd largest user of NTMs in 2023 as per WTO’s ‘World Tariff Profiles’ Report, 2024. 

About Non-Tariff Measures (NTMs)

• NTMs are defined as policy measures, other than ordinary customs tariffs, that can be potentially detrimental to international trade in goods, changing quantities traded, prices, or both.
• Examples- Quotas or price controls, Sanitary and Phytosanitary measures, Technical Barriers to Trade, etc. 
• Though many NTMs aim primarily at protecting public health or the environment, they also affect trade through information, compliance, and procedural costs.

RBI’s draft norms proposal on LCR may impact the Bank’s earnings by 4-11 %.  

About LCR

• LCR requires banks to maintain a buffer of easily liquefiable assets to cover potential withdrawal demands over 30 days. 
  • It helps the bank stay afloat during a financial crisis.
• Formula to calculate LCR
  • LCR  = (High Quality Liquid Assets) / (Total net cash outflows over next 30 calendar days)
  • Every asset that can be easily and instantly converted into cash at minimum or no cost of value is a High-Quality Liquid Asset.
• LCR in banking resulted from Basel III agreement.

Saint Hilarion Monastery/Tell Umm Amer in Palestine is inscribed on UNESCO’s List of World Heritage in Danger. 

About Tell Umm Amer

• Founded by Saint Hilarion, it is one of the earliest monastic sites in Middle East, dating back to 4th century.
• It was the first monastic community in Holy Land, laying the groundwork for spread of monastic practices in the region.  
• Monastery occupied a strategic position at crossroads of major trade and communication routes between Asia and Africa.

India’s GROWTH-India telescope in Ladakh captured images of 116-metre, building-sized asteroid during its closest approach to Earth.

About GROWTH-India telescope 

• India’s first fully robotic optical research telescope, located at Indian Astronomical Observatory site at Hanle, Ladakh.
• Set up by Indian Institute of Astrophysics (Bengaluru) and IIT Bombay with funding from Indo-US Science and Technology Forum and Science and Engineering Research Board, India.  
• Part of international network called Global Relay of Observatories Watching Transients Happen (GROWTH) whose aim is to study celestial events and collect data regarding them.
• Studies electromagnetic counterparts to gravitational wave sources, young supernovae, and near earth asteroids etc

Government of India launched the revised Model Skill Loan Scheme.

• It is revised version of Credit Guarantee Fund Scheme for Skill Development (CCFSSD), 2015.

About Model Skill Loan Scheme

• Ministry: Ministry of Skill Development and Entrepreneurship 
• Aim: Providing easy access to advanced-level skill courses, which potentially pose a significant financial barrier for many deserving students and candidates to gain futuristic and in-demand industry skills.
• Loan amount limit has been increased to 7.5 lakh rupees from 1.5 lakh rupees earlier.
• Now, NBFCs, Micro Finance Institutions, and Small Finance Banks will be eligible to extend loans to students.