CURRENT AFFAIRS 30 September, 2024

Shankh Air, India’s latest airline, is poised to make its debut by the end of 2024 after receiving approval from the civil aviation ministry. This marks a significant development for Uttar Pradesh as Shankh Air aims to become the state’s first scheduled airline, establishing hubs in Lucknow and the upcoming Noida International Airport.
The airline plans to focus on both inter- and intra-state routes, targeting areas with high demand and limited direct flight options.
Shankh Air is designed to connect major cities across India, with initial services planned for Lucknow, Varanasi, and Gorakhpur. The airline will operate as a twin-class, full-service carrier, utilizing a fleet of new-generation Boeing 737-800NG aircraft.
With its operational hubs located in Lucknow, Jewar Airport (Noida), and New Delhi, Shankh Air will feature a modern fleet focused on passenger comfort. The airline’s management team is in place, and staff hiring is set to begin soon, following compliance with regulations on foreign direct investment (FDI) and Securities and Exchange Board of India (SEBI) guidelines.

The Ministry of Home Affairs (MHA) appointed IPS Nalin Prabhat as the Director General of Police (DGP) of Jammu and Kashmir. He is set to assume charge from October 1. Till then, he will work as the Special Director-General (DG) of the Jammu and Kashmir Police.
The appointment comes at a time when the Kashmir Valley has been rocked by a series of terrorist encounters and violent clashes.
The new DGP is expected to bring a strategic approach to law enforcement in the region.
Prabhat is a 1992-batch Indian Police Service officer.He has been serving as the NSG DG since April 2024.

India’s foreign exchange reserves reached a record high of $692.3 billion as of September 20, according to data released by the Reserve Bank of India on September 27.
The reserves increased by $2.84 billion during the week, following a total rise of $19.3 billion over the previous five weeks. The rise in reserves was driven by the Reserve Bank of India’s interventions in the forex market and inflows into local stocks and bonds.

Breakdown of Reserves

Foreign Currency Assets (FCA)- The largest component of forex reserves, foreign currency assets, rose to $605.7 billion from $603.6 billion.
Gold Reserves- Gold reserves increased to $63.6 billion from $62.9 billion.
Special Drawing Rights (SDRs)- SDRs with the International Monetary Fund stood at $18.5 billion, up from $18.4 billion.
Reserve Tranche Position (IMF)- The reserve tranche position with the IMF slightly decreased to $4.46 billion from $4.52 billion.

India has recently become the third-largest producer and consumer of ethanol in the world. This change is thanks to important policy changes made by the Indian government to encourage the use of biofuels and improve energy sustainability.
The government has launched several programs to increase ethanol production, including financial support for sugarcane farmers and manufacturers. These policies aim to make more ethanol available for blending with fuels, reduce reliance on fossil fuels, and support farmers in rural areas.
In September 2024, the India Sugar & Bio-Energy Conference was held, organized by the Indian Sugar & Bio-Energy Manufacturers Association (ISMA). This event gathered policymakers, industry leaders, and other stakeholders to talk about the future of the sugar and bio-energy sectors.

From January to June 2024, India recorded 4.78 million Foreign Tourist Arrivals (FTAs), led by Bangladesh (21.55%) and the US (17.56%).
Despite a 9.1% growth compared to 2023, the numbers remain 9.8% lower than pre-pandemic levels in 2019.
Other major source countries include the UK (9.82%), Canada (4.5%), and Australia (4.32%).

CURRENT AFFAIRS