CURRENT AFFAIRS

CURRENT AFFAIRS 26 October, 2024

Nvidia has officially dethroned Apple as the world’s most valuable company, achieving this milestone on Friday after a remarkable surge in its stock price driven by soaring demand for its cutting-edge supercomputing AI chips.
At one point, Nvidia’s market value soared to an impressive $3.53 trillion, just edging out Apple, which was valued at $3.52 trillion, according to data from LSEG.
Nvidia has overtaken Apple as the world’s most valuable company, with its stock market value briefly reaching $3.53 trillion, compared to Apple’s $3.52 trillion.
This milestone was achieved following a significant rally in Nvidia’s stock, driven by an increasing demand for its supercomputing AI chips.

India recently announced a pivotal agreement regarding patrolling along the Line of Actual Control (LAC) with China. This development is seen as a potential stepping stone toward normalizing relations between the two nations following tensions that escalated in 2020.
The pact entails a structured approach to disengagement and resolution of the long-standing border disputes, specifically in areas like the Depsang Plains and Demchok.
The agreement allows both nations to restore mutual patrolling rights in the Depsang Plains and the Demchok region, areas where disputes existed even before the 2020 border incursions. Indian troops will now be permitted to patrol up to Patrolling Points (PP) 10 to 13 in the Depsang Plains and the Charding Nullah in Demchok.
Notably, areas where previous disengagements occurred—such as Galwan Valley, Pangong Tso, and Gogra-Hot Springs—are explicitly excluded from renegotiation.

On October 2024, paddy harvesting in Punjab has slowed. Despite favourable weather, about 90% of the procured crop remains stuck in mandis (grain markets).
Private rice millers are refusing to store government paddy, exacerbating the situation. Without immediate intervention, conditions are expected to deteriorate.
Paddy procurement is a structured process. Each year, the Centre collaborates with state governments and the Food Corporation of India (FCI) to set procurement estimates before the kharif marketing season, which runs from October to September.
During this period, state agencies and the FCI buy paddy from farmers at the Minimum Support Price (MSP). The procured paddy is milled, and the resulting rice is stored or distributed under the National Food Security Act (NFSA).

The 31st edition of the Singapore-India Maritime Bilateral Exercise (SIMBEX) is taking place from 23 to 29 October 2024 in Visakhapatnam. The Republic of Singapore Navy Ship RSS Tenacious arrived on 23 October to participate in this event.
SIMBEX started in 1994 as ‘Exercise Lion King’. It has evolved into a key maritime collaboration between the Indian Navy and the Republic of Singapore Navy (RSN). Over the years, it has grown in scope and complexity.
The primary aim of SIMBEX 2024 is to strengthen the strategic partnership between India and Singapore.

Key objectives include

The PM Young Achievers Scholarship Award Scheme for Vibrant India (PM-YASASVI) was launched by the Ministry of Social Justice and Empowerment. This scheme aims to uplift students from Other Backward Classes (OBC), Economically Backward Classes (EBC), and Denotified Tribes (DNT).
It provides access to quality education, addresses financial barriers, and supports academic growth.
PM-YASASVI consolidates previous scholarship initiatives. It includes the Dr. Ambedkar Post-Matric Scholarship for EBCs and the Pre-Matric and Post-Matric Scholarship for DNTs. These initiatives were merged into PM-YASASVI in 2021-22 to streamline support for disadvantaged students.
The main goal of PM-YASASVI is to promote educational empowerment. It seeks to help vulnerable groups complete their education. This initiative encourages individual growth and contributes to a more inclusive society.