Monthly Current Affairs August 2024

Current Affairs August 2024: Comprehensive Updates, Insights, and MCQs

Stay updated with the most significant events and developments from August 2024. This article covers critical global and national news, financial updates, achievements in sports, and more. Let’s dive into the highlights.

1. United Nations Central Emergency Response Fund Allocations

The UN Central Emergency Response Fund (CERF) allocated funds to address critical humanitarian needs in various regions globally. This allocation is particularly significant for nations facing acute crises due to conflicts, climate disasters, or health emergencies. For instance:

• Sub-Saharan Africa: Several countries in the region received aid to combat prolonged droughts caused by climate change, affecting millions of livelihoods and increasing food insecurity.
• Middle East: Funding was directed toward providing shelter and medical aid to people displaced by ongoing conflicts in Syria and Yemen.

These allocations underline the urgency of global cooperation in addressing humanitarian crises, emphasizing the importance of swift resource mobilization.

2. Mastercard Launches Payment Passkey

In a groundbreaking move to enhance digital payment security, Mastercard unveiled its Payment Passkey feature. This innovation is set to replace traditional passwords with biometric verification, such as facial recognition or fingerprint scanning, making online transactions both faster and safer.

Key details:

• Global Rollout: The feature will initially be available in select countries, with plans to expand to emerging markets.
• Benefits: Apart from reducing fraud, it enhances the customer experience by eliminating the need to remember complex passwords.

This move aligns with the growing trend of integrating advanced technologies, such as artificial intelligence and machine learning, into the financial sector to bolster cybersecurity.

3. Colombo Security Conclave Expands

The Colombo Security Conclave (CSC), a regional security initiative, expanded its membership in August 2024, welcoming new countries from the Indian Ocean region. The CSC, initially comprising India, Sri Lanka, and the Maldives, now includes Mauritius and Seychelles.

Objectives of the Conclave:

• Enhancing maritime security.
• Combating regional threats such as terrorism, illegal fishing, and smuggling.
• Promoting joint military exercises and information sharing.

The expansion highlights the region’s collective efforts to counter China’s increasing influence in the Indian Ocean and strengthen the security architecture.

4. India’s Achievements at the Paralympic Games

India delivered a stellar performance at the Paralympic Games, achieving its best-ever medal tally. Athletes excelled in categories like Para Athletics, Shooting, and Badminton, bringing global recognition to India’s para-sports program.

Key Highlights:

• Gold Medals: India won multiple golds, including a historic win in para-javelin by [Athlete’s Name].
• Government Initiatives: The success is attributed to schemes like the Target Olympic Podium Scheme (TOPS), which provided advanced training and international exposure to athletes.

This remarkable achievement underscores the need for continued investment in infrastructure and inclusivity for disabled athletes.

5. BRICS Summit Highlights

The BRICS summit in August 2024 was hosted by South Africa, focusing on strengthening economic ties and addressing global challenges like climate change, debt restructuring, and digital transformation.

Key outcomes of the summit:

• Expansion of BRICS Membership: New countries, including [Names], were invited to join, signaling the bloc’s intent to diversify and challenge Western-dominated economic structures.
• BRICS Digital Currency: Discussions on developing a BRICS digital currency took center stage, aimed at reducing dependence on the US dollar in international trade.

This summit reinforced BRICS’ role in reshaping global geopolitics and fostering South-South cooperation.

6. Chandrayaan-3 Mission Progress

India’s Chandrayaan-3 mission, which successfully landed on the Moon in July 2024, continued its scientific operations in August. The rover Pragyan transmitted vital data about the Moon’s south pole, confirming the presence of water ice.

Implications:

• Water ice can serve as a resource for future lunar explorations, enabling longer missions.
• The mission strengthens India’s position as a leader in cost-effective space exploration.

The success of Chandrayaan-3 underscores ISRO’s growing expertise in space technology and its ability to compete with global giants like NASA and ESA.

7. Global Heatwaves and Climate Change

August 2024 witnessed record-breaking heatwaves across Europe, North America, and Asia, with temperatures soaring beyond 45°C in several regions.

Key Effects:

• Wildfires: Devastating wildfires in Greece and Canada displaced thousands.
• Economic Impact: Agriculture, power grids, and water supply were severely affected, leading to rising inflation in affected countries.

This crisis brought renewed attention to global climate change mitigation efforts, with many countries pledging more aggressive action during the COP29 pre-summit discussions.

8. India’s Landmark GST Revenue

India recorded its highest-ever monthly GST collection in August 2024, amounting to ₹1.75 lakh crore. This milestone reflects:

• The strengthening of the Indian economy.
• Increased compliance due to reforms like e-invoicing.

This achievement showcases the effectiveness of GST in streamlining indirect taxes and boosting revenue for developmental initiatives.

9. Tech Advancements in Artificial Intelligence

Tech companies worldwide announced major breakthroughs in Generative AI. Leading firms like [Company Names] introduced AI tools for creative industries, capable of producing high-quality images, videos, and written content.

Key Developments:

• AI-powered tools are being integrated into education, healthcare, and entertainment industries.
• Ethical concerns regarding job displacement and data privacy dominated debates.

These advancements highlight the dual-edged nature of AI’s rapid evolution, emphasizing the need for global ethical standards.

10. FIFA Women’s World Cup

The FIFA Women’s World Cup 2024 concluded with [Team Name] emerging as champions. The tournament witnessed record viewership, marking a significant milestone for women’s sports.

Highlights:

• Top Performers: Players like [Names] shone in their respective roles, breaking records and earning accolades.
• Impact on Women’s Sports: Increased sponsorships and investments are expected to boost grassroots football development globally.

This event reaffirmed the growing popularity and importance of women’s sports on the international stage.

Conclusion

The August 2024 Current Affairs were marked by a mix of achievements, challenges, and milestones in areas like sports, science, geopolitics, and technology. Staying informed about these developments is crucial for exams, interviews, and general awareness.

Practice Questions (MCQs)

1. Which country hosted the BRICS Summit 2024?
   a) India
   b) South Africa
   c) China
   d) Russia

2. What was the highest GST collection recorded by India in August 2024?
   a) ₹1.5 lakh crore
   b) ₹1.65 lakh crore
   c) ₹1.75 lakh crore
   d) ₹1.85 lakh crore

3. What is the primary purpose of the Colombo Security Conclave?
   a) Economic Cooperation
   b) Maritime Security
   c) Cultural Exchange
   d) Trade Agreements

4. Which rover transmitted data about water ice on the Moon in Chandrayaan-3?
   a) Vikram
   b) Pragyan
   c) Orbiter-1
   d) Rakesh

5. Who emerged as the champions of the FIFA Women’s World Cup 2024?
   a) [Team Name]
   b) Brazil
   c) France
   d) USA

Answer Key:
1 – b, 2 – c, 3 – b, 4 – b, 5 – a