Current Affairs

1. SEBEX 2, INDIA’S NEW EXPLOSIVE REVOLUTIONIZING MILITARY FIRE POWER –

• India has taken a significant leap in military technology with the development of SEBEX 2, a powerful new explosive.
• Certified by the Indian Navy, SEBEX 2 is reported to be twice as lethal as the standard Trinitrotoluene (TNT), marking it as one of the most powerful non-nuclear explosives globally. This breakthrough is set to revolutionize artillery shells and warheads, enhancing their destructive capabilities without increasing their weight.
• SEBEX 2 was rigorously tested under the Defence Export Promotion Scheme of the Indian Navy. The formulation was developed by Economic Explosives Ltd (EEL), a subsidiary of Nagpur-based Solar Industries. The certification process, completed last week, highlights the explosive’s enhanced firepower and blast effect, which surpasses any currently available solid explosive.
• The development of SEBEX 2 falls under the Make in India initiative, showcasing India’s commitment to advancing its defense capabilities with indigenous technologies.

 

 

2. WORLD BANK APPROVES $1.5 BILLION LOAN TO SUPPORT INDIA’S GREEN HYDROGEN PUSH –

• The World Bank has approved a second round of $1. 5 billion in financing to help India accelerate its development of low-carbon energy. This funding aims to promote the market for green hydrogen, electrolysers, and increased renewable energy penetration. The initiative aligns with India’s National Green Hydrogen Mission  and  energy transition targets, including achieving 500 GW of installed renewable energy capacity by 2030 and reaching net zero by 2070.

First Round of Funding (June 2023):

The World Bank initially approved a $1.5 billion loan for the First Low-Carbon Energy Programmatic Development Policy Operation. This supported transmission charge waivers for renewable energy in green hydrogen projects, annual renewable energy tenders of 50 GW, and the creation of a national carbon credit market framework.

Objectives of the Second Round

Green Hydrogen Market:

Boost production and consumption of green hydrogen.

 

 

3. TATA GROUP IS INDIA’S MOST VALUABLE BRAND: REPORT –

• Tata Group has maintained its position as India’s most valuable brand with a value of US$ 28.6 billion, marking a 9% increase from last year. Infosys ranks second, and HDFC Group has surged to third place following its merger with HDFC Ltd. Tata Group is on the verge of becoming the first Indian brand to reach the US$ 30 billion mark.
• Taj remains India’s strongest brand, with a Brand Strength Index (BSI) score of 92.9 out of 100 and an AAA+ rating. The telecom sector experienced a 61% growth in brand value, driven by Jio, Airtel, and Vi, while the banking sector reported a 26% increase, with SBI as India’s second most valuable bank.
• Westside is the fastest-growing Indian brand, with a 122% increase in brand value, followed by Motherson at 86% and Sonata Software at 83%. Hexaware is the fastest-growing brand in the IT services sector, with a 20% increase in brand value. The mining, iron, and steel sectors saw a 16% growth due to infrastructure and manufacturing investments.