Daily Current Affairs – February 01 & 02, 2024
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Daily Current Affairs - Banking - February 01 & 02, 2024
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National News
Cabinet Approval
- The Union Cabinet chaired by the Prime Minister Narendra Modi, has given its approval for signing and ratification of Bilateral Investment Treaty between the Government of the Republic of India and the Government of the United Arab Emirates.
- And approved the continuation of Animal Husbandry Infrastructure Development Fund (AHIDF) to be implemented under Infrastructure Development Fund (IDF) with an outlay of ₹29,610.25 crores for another three years up to 2025-26.
- The scheme will incentivize investments for Dairy processing and product diversification, Meat processing and product diversification, Animal Feed Plant, Breed multiplication farm, Animal Waste to Wealth Management (Agri-waste management) and Veterinary vaccine and drug production facilities.
- Government will provide 3% interest subvention for 8 years including two years of moratorium for loan up to 90% from the scheduled bank and National Cooperative Development Corporation (NCDC), NABARD and NDDB.
- The eligible entities are individuals, Private Companies, FPO, MSME, Section 8 companies.
- Now the Dairy Cooperatives will also avail benefits for modernization, strengthening of the dairy plants.
- The cabinet also approved extension of scheme of sugar subsidy for Antyodya Anna Yojna (AAY) families distributed through Public Distribution Scheme (PDS) for two more years i.e. March 31 2026.
- And approved the continuation of Scheme for Rebate of State and Central Taxes and Levies (RoSCTL) for export of Apparel/Garments and Made upto March 31 2026.
- Also gave approval for determination of Marketing Margin on supply of domestic gas to Fertilizer (Urea) Units for the period from May 1, 2009 to November 17, 2015.
- This approval is a structural reform.
- Marketing Margin is charged by gas marketing company from consumers over and above the cost of gas for taking on the additional risk and cost associated with marketing of gas.
- Government had previously determined marketing margin on supply of domestic gas to urea and LPG producers in
20th Webinar of the National Good Governance Webinar Series – 2023-24
- The 20th Webinar of the National Good Governance Webinar Series – 2023-24 was held with the Theme- Promoting Excellence in Sports and Wellness through Khelo India Scheme.
- The Webinar was Chaired by Srinivas, Secretary, Department of Administrative Reforms & Public Grievances (DARPG) and was attended by Joint Secretaries and senior officers of the Department.
- The Webinar was attended from 559 locations across the country with Administrative Reforms Departments of States and UTs, District Collectors, State and District Sports Officers, Officers of Central and State Administrative Training Institutes attending the Webinar.
- The Prime Minister has directed Department of Administrative Reforms & Public Grievances (DARPG) to hold virtual conferences/ webinars with District Collectors and other officers in which past award winners of PM’s Awards for Excellence in Public Administration be invited to present their experiences with the objective of greater dissemination and replication.
- In pursuance of the Prime Minister’s directions, the DARPG has conducted 20 National Good Governance Webinars, one Webinar every month, since April, 2022 to encourage dissemination and replication of the award-winning nominations under the Scheme of Prime Minister’s Award for Excellence in Public Administration.
- Each webinar is attended by about 1000 officials from Line Departments, State Governments, District Collectors State Administrative Training Institutes and Central Training Institutes.
Union AYUSH Minister inaugurates National Arogya Fair 2024
- Union AYUSH Minister Sarbanand Sonowal inaugurated the National Arogya Fair 2024 in New Delhi.
- The fair’s ‘Har din Har Ghar AYUSH’ campaign imparts the benefits of Indian traditional medicine systems to the people.
- The four-day National Arogya Fair is a showcase of India’s cultural and historical legacy in holistic healthcare.
- The event is open to all, free of charge, at the Jawaharlal Nehru Stadium in New Delhi.
- Ministry of Ayush – Sarbananda Sonowal,Union Minister (Rajya Sabha MP,Assam) – Dr. Mahendra Munjpara,Minister of State (Surendranagar,Gujarat)
International News
Defence Secretary Giridhar Aramane co-chaires 12th Joint Military Cooperation Committee meeting in Muscat
- Defence Secretary Giridhar Aramane co-chaired the 12th Joint Military Cooperation Committee meeting with the Secretary General, Ministry of Defence, Oman Mohammed Bin Naseer Bin Ali Al Zaabi in Muscat, Oman.
- The meeting delved into many new areas of cooperation in the fields of training, Joint exercise, Information sharing, Oceanography, and Ship Building that would build mutual trust and interoperability between militaries of both nations.
- The Defence Secretary and Secretary General signed a Memorandum of Understanding about procurement of Defence Material and Equipment.
- Oman – Muscat (Capital) – Omani rial (Currency) – Haitham bin Tariq (Sultan) – Theyazin bin Haitham (Crown Prince) – Arabic (Language)
4th India and Portugal Foreign Office Consultations held in New Delhi
- The 4th Foreign Office Consultations between India and Portugal was held in New Delhi with a focus on political relations, deepening of trade and investment, cooperation in defence, science and technology, and energy.
- The Consultations were co-chaired by Secretary (West) in the Ministry of External Affairs, Sanjay Verma and the Director General for Foreign Policy, in the Portuguese Foreign Affairs Ministry, Ambassador Rui Vinhas.
- Portugal – Lisbon (Capital) – Portugese (Language) – Marcelo Rebelo de Sousa (President) – António Costa (Prime Minister) – Euro (Currency)
State News
Dras Winter Carnival-2024 commences in Ladakh
- In Ladakh, the Dras Winter Carnival-2024, themed “Celebrating Life in the Second Coldest Inhabited Place in the World,” commenced with unparalleled fanfare in a dazzling opening ceremony.
- Organized collaboratively by the Indian Army and local communities, this year’s carnival promises a distinctive fusion of sports and culture, showcasing the indomitable spirit of the region.
- The inaugural events featured a heart-pounding ice hockey match between City Blue and Team Goshan Red, injecting excitement into the frosty air.
- Additionally, a captivating archery match displayed precision and skill, leaving spectators spellbound.
- Amin Polo, a representative of the organizing committee, expressed enthusiasm about sharing the magic of Dras with the world.
- It also contributes to identifying talents who later represent Ladakh at national and international levels.
- The Dras Winter Carnival aims to nurture local sporting talent, promote cultural awareness, and offer a one-of-a-kind experience for participants and spectators alike.
- The inclusive nature of the event extends beyond geographical boundaries, allowing a global audience to actively participate in the festivities remotely.
- Ladakh – Leh (Summer) & Kargil (Winter) (Capital) – B. D. Mishra (Lieutenant Governor) – Hindi & English (Language)
Chhattisgarh's SAIL-Bhilai Steel Plant creates a national record
- Bhilai Steel Plant (BSP), Chhattisgarh-based entity of the state-run Steel Authority of India Limited (SAIL), has made a national record for consecutive heats of rail steel continuously cast in any caster.
- This came a day before the steel producer’s foundation day.
- Almost 315 heats were cast continuously from bloom caster, thereby setting a new benchmark for longest sequence length in any Caster in India.
- The record was previously held by SAIL’s Rourkela Steel Plant that casted 309 heats.
- Chhattisgarh – Raipur (Capital) – Bhupesh Baghel (CM) – Biswabhusan Harichandan (Governor) – Chhattisgarhi & Hindi (Language)
Schemes
PM Suryoday Yojana 2024
- Pradhan Mantri Suroyadaya Yojna will aid households in saving ₹15,000-18,000 annually by installing rooftop solar for which an allocation of ₹10,000 crores has been proposed.
- Through rooftop solarisation, one crore households will be enabled to obtain up to 300 units of free electricity every month.
‘Kalaignar Sports Kit’ scheme
- Sports Development and Youth Welfare Minister Udhayanidhi Stalin announced that the State government would launch an initiative called the ‘Kalaignar Sports Kit’, under which sports equipment would be distributed in 12,000 village panchayats to mark former Chief Minister M. Karunanidhi’s birth centenary.
Banking and Finance
UPI transactions reach a record ₹18.41 trillion in January
- The Unified Payments Interface (UPI) transaction value grew over 42 per cent YoY to ₹18.41 Lakh Crores in January 2024 from ₹18.23 lakh crores in January 2023.
- UPI transaction volume went up 52 per cent to 1,220 Crore in January.
- According to data shared by the National Payments Corporation of India (NPCI), January numbers were 52 per cent higher in volume and 42 per cent higher in value compared to the same month last financial year.
RBI imposes major business restrictions on Paytm Payments Bank
- The Reserve Bank of India (RBI) imposed major business restrictions on Paytm Payments Bank including accepting fresh deposits and doing credit transactions after February 29.
- No further deposits or credit transactions or top ups shall be allowed in any customer accounts, prepaid instruments, wallets, FASTags, NCMC cards, etc. after February 29, 2024, other than any interest, cashbacks, or refunds which may be credited anytime.
- The RBI, however, clarified that the withdrawal or utilisation of balances by the lender’s customers from their accounts including savings bank accounts, current accounts, prepaid instruments, FASTags, National Common Mobility Cards, etc. are to be permitted without any restrictions, upto their available balance.
- Paytm Payments Bank (PPBL) – 2015 (Founded) – Noida (HQ) – Deependra Singh Rathore (Interim CEO)
RBI's digital payments index jumps to 418.77 in September from 395.57 in March
- The Reserve Bank of India’s (RBI) Digital Payments Index, a measure of the extent of digitisation of payments across the country, increased to 77 in September 2023 from 395.57 in March 2023.
- The RBI-DPI has been constructed with March 2018 as the base period, that is, the DPI score for March 2018 is set at
- In September 2019, the index stood at 49, which rose to 217.74 in September 2020, and to 304.06 in September 2021.
- The RBI-DPI comprises five broad parameters that measure the penetration of digital payments in the country over different time periods.
- These parameters include Payment Enablers (weight 25 per cent), Payment Infrastructure – Demand-side factors (10 per cent), Payment Infrastructure – Supply-side factors (15 per cent), Payment Performance (45 per cent), and Consumer Centricity (5 per cent).
- The central bank publishes the RBI-DPI on a semi-annual basis with a lag of four months.
Business and Economy
January GST collection rises 10.4% to ₹1,72,129 crore, second-highest ever
- Goods and services tax (GST) collections hit ₹1,72,129 crores in January 2024, growing by 4 per cent over ₹155,922 crores from the same month in the previous year.
- This is the second highest monthly collection ever and marks the third month in this financial year with collection of ₹1.70 lakh crore or more.
- The government has settled ₹43,552 crores to CGST and ₹37,257 crores to SGST from the IGST collection.
Fitch Ratings forecasts FY25 fiscal deficit at 5.4%
- Fitch Ratings’ forecasts fiscal deficit to reach 4 per cent of GDP in FY25, above the budget target of 5.1 per cent.
Science and Technology
Union Minister of Coal, Mines and Parliamentary Affairs launches C-CARES, web portal of CMPFO
- Union Minister of Coal, Mines and Parliamentary Affairs Pralhad Joshi launched a web portal of CMPFO namely C- CARES developed and designed by the Centre for Development of Advanced Computing (C-DAC), an R&D organization under the Ministry of Electronics and Information Technology.
- This marks a significant leap in the digitization journey of CMPFO aiming to address the long-standing issue of digitizing its records and work processes.
- Coal Mines Provident Fund Organization (CMPFO) is an autonomous organization under the aegis of Ministry of Coal established in the year 1948 for administering Provident Fund and Pension schemes for the purpose of providing social security to the coal sector workers.
- The Organization is presently rendering services to about 3 lakh Provident Fund subscribers and 6.1 lakh pensioners of coal sector.
- Ministry of Electronics and Information Technology – Ashwini Vaishnaw, Cabinet Minister (Rajya Sabha MP, Odisha) – Rajeev Chandrasekhar, Minister of State (Rajya Sabha MP, Karnataka)
Nature
Five more Indian wetlands added to Ramsar list
- Five more Indian wetlands have been added to the global list of wetlands of international importance under the Ramsar Convention, taking the total number of such highly recognised waterlogged ecosystems in the country to
- Of the five wetlands added to the Ramsar list, Magadi Kere Conservation Reserve, Ankasamudra Bird Conservation Reserve, and Aghanashini Estuary are in Karnataka and Karaivetti Bird Sanctuary and Longwood Shola Reserve Forest are in Tamil Nadu.
Appointments
Champai Soren take oath as Jharkhand CM
- Champai Soren, a senior leader of the Jharkhand Mukti Morcha (JMM), took oath as the 7th chief minister of Jharkhand, succeeding party chairperson Hemant Soren.
Centre notifies Justice P S Dinesh Kumar as Chief Justice of Karnataka High Court
- The Union government has notified Justice P S Dinesh Kumar as the Chief Justice of Karnataka High Court following previous Chief Justice Prasanna Varale’s appointment as a Supreme Court judge.
- He was the acting Chief Justice of the Karnataka High Court.
- And has been serving on the Karnataka High Court since 2015, will have a short tenure as Chief Justice as he is set to retire on February 24.
Jay Shah appointed as President of Asian Cricket Council (ACC)
- Jay Shah’s term as the president of the Asian Cricket Council (ACC), was unanimously extended by one year on Wednesday at the body’s annual general meeting.
- His extension was proposed by Sri Lanka Cricket (SLC) president Shammi Silva for the second time, and the nomination was unanimously backed by all the members of the ACC.
- Asian Cricket Council (ACC) – 19/09/1983 (Founded) – Colombo, Sri Lanka (HQ) – Jay Shah (Chairman) – 27 Countries
Anil Kumar Lahoti appointed as TRAI Chairman
- Former Railway Board Chief Anil Kumar Lahoti has been appointed as the chairman of the Telecom Regulatory Authority of India (TRAI) after the position felt vacant since November 2023 after PD Vaghela vacated the post after his two-year tenure ended.
- He will replace TRAI member Meenakshi Gupta who was given the additional charge of the top post for the time being.
- Telecom Regulatory Authority of India (TRAI) – 20/02/1997 (Founded) – New Delhi (HQ) – Anil Kumar Lahoti (Chairman)
AU Small Finance Bank appoints HR Khan as non-executive chairman
- AU Small Finance Bank has appointed Harun Rashid Khan, former deputy governor (2011) of the Reserve Bank of India (RBI) from January 31 2024, as non-executive chairman following approval from the shareholders.
- He replaced Raj Verma, whose tenure as Part-time Chairman ended on January 29, 2024.
- Harun Rashid Khan also served as Executive Director of RBI (2007).
- AU Small Finance Bank – 1996 (Founded) – Jaipur, Rajasthan (HQ) – Raj Vikash Verma (Chairman) – Sanjay Agarwal (MD & CEO)
Vice Admiral Lochan Singh Pathania assumes charge as Chief Hydrographer
- Vice Admiral Lochan Singh Pathania assumed charge as the Chief Hydrographer to the government of India.
- Commissioned in the Executive branch of the Indian Navy in 1990, he is a Hydrography Specialist.
- The Flag Officer has commanded Indian Naval Ships Darshak and Sandhayak.
Ranks and Indices
Andhra Pradesh tops in creating ABHA ids for its population
- Of the more than 529 million unique health IDs or Ayushman Bharat Health Account numbers created, top of the list is Andhra Pradesh with 78 per cent of its population registered.
- The data from the Ayushman Bharat Digital Mission dashboard shows that Andhra Pradesh is followed by Himachal Pradesh (74.7 per cent) and Chhattisgarh (66.7 percent) coverage respectively.
- Lining up with Tamil Nadu (12.2 per cent) as the worst performers are Bihar (14.7 per cent) and Manipur (18.5 per cent).
- The Ayushman Bharat Health Account number is a unique 14-digit identification number called ABHA ID under which an individual’s medical history, consultation details, prescriptions etc are registered, creating a unique health database.
- The ABHA ID is used to secure all medical records in a digital locker (with the consent of the individual).
- This is different from the Ayushman Bharat card which covers the healthcare costs of the poor.
Awards and Recognitions
Visakhapatnam Port Authority bags 3rd Rank in respect of Swachchta Pakhwada Awards
- Visakhapatnam Port Authority bagged 3rd Rank in respect of Swachchta Pakhwada Awards organized by the Ministry of Ports, Shipping and Waterways and is the only Major Port bagging the Award.
- The award was presented by Sarbanada Sonowal, Union Minister of Ports, Shipping and Waterways to M. Angamuthu, Chairperson, Visakhapatnam Port Authority, along with T. Venu Gopal, Secretary and M. Hariya, Chief Engineer In-Charge at New Delhi.
- Ministry of Ports, Shipping and Waterways – Sarbananda Sonowal, Union Minister (Rajya Sabha MP, Assam) – Shripad Yesso Naik, Minister of State (North Goa) & Shantanu Thakur, Minister of State (Bangaon,West Bengal)
Sports News
Khelo India Youth Games 2024
- Khelo India Youth Games (KIYG) 2024, the 6th edition of the flagship event under the Indian government’s Khelo India initiative was concluded.
- Over 5,600 athletes from all over the country competed at the Khelo India Youth Games 2024.
- Tamil Nadu hosted the KIYG 2024 in four cities – Chennai, Madurai, Trichy and Coimbatore.
- A total of 926 medals – 278 gold, 278 silver and 370 bronze – were on offer across 26 sports at the event.
- Squash made its debut this year while Silambam, a form of indigenous martial arts, featured as a demonstration sport.
- Swimmer Vritti Agarwal of Telangana, who represented India at the Asian Games last year, was among the top performers at KIYG 2024.
- The 17-year-old swimmer won five individual gold medals by claiming the top spots in the women’s 200m butterfly and the freestyle events in 200m, 800m, 400m and 1500m.
- Maharashtra defended their Khelo India Youth Games title after topping the medals tally with 57 gold medals, 48 silver and 53 bronze.
- It was their fourth KIYG title.
Rank
State
Gold
Silver
Bronze
Total medals
1
Maharashtra
57
48
53
158
2
Tamil Nadu
38
21
39
98
3
Haryana
35
22
46
103
4
Delhi
13
18
25
56
5
Rajasthan
13
17
17
47
FIH Hockey5s Men’s World Cup 2024
- The 2024 Hockey5s World Cup was the first edition of the FIH Men’s Hockey5s World Cup, the quadrennial world championship for men’s national hockey5s teams organized by the FIH was held at Hockey Oman Stadium, Al Amerat, Oman.
Rank
Team
1
Netherlands
2
Malaysia
3
Oman
4
Poland
5
India
Important Days
Indian Coast Guard Day 2024
- Indian Coast Guard Day (ICG) is annually observed on February 01.
- The day is celebrated to highlight the commitments made by the Indian Coast Guard to the country’s maritime security.
- The Indian Parliament officially established ICG Day on February 1 each year on August 18, 1978.
- Indian Coast Guard was formally established on 1 February 1977 by the Coast Guard Act, 1978 of the Parliament of India.
World Interfaith Harmony Week
- World Interfaith Harmony Week is an annual event observed during the first week of February.
- The Week seeks to spread the message of harmony and tolerance among the followers of all the world’s religions, faiths and beliefs.
- The week was first proposed by King Abdullah II of Jordan at the United Nations in
- This was quickly adopted by the UN General Assembly (resolution A/RES/65/5), declaring the first week of February each year as World Interfaith Harmony week.
- Theme – Uniting for peace
World Wetlands Day 2024
- World Wetlands Day is annually celebrated on February 02.
- This day marks the date of the adoption of the Convention on Wetlands on February 2 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea.
- Theme – Wetlands and human wellbeing
- Iran – Tehran (Capital) – Iranian rial (Currency) – Ali Khamenei (Supreme Leader) – Ebrahim Raisi (Prime Minister) – Võ Văn Thưởng (President) – Persian (Language)
Daily Current Affairs - February 01 & 02, 2024 - Consolidated
- Cabinet Approval
- 20th Webinar of the National Good Governance Webinar Series – 2023-24
- Union AYUSH Minister inaugurates National Arogya Fair 2024
- Defence Secretary Giridhar Aramane co-chaires 12th Joint Military Cooperation Committee meeting in Muscat
- 4th India and Portugal Foreign Office Consultations held in New Delhi
- Dras Winter Carnival-2024 commences in Ladakh
- Chhattisgarh’s SAIL-Bhilai Steel Plant creates a national record
- PM Suryoday Yojana 2024
- ‘Kalaignar Sports Kit’ scheme
- UPI transactions reach a record ₹18.41 trillion in January
- RBI imposes major business restrictions on Paytm Payments Bank
- RBI’s digital payments index jumps to 418.77 in September from 395.57 in March
- January GST collection rises 10.4% to ₹1,72,129 crore, second-highest ever
- Fitch Ratings forecasts FY25 fiscal deficit at 5.4%
- Union Minister of Coal, Mines and Parliamentary Affairs launches C-CARES, web portal of CMPFO
- Five more Indian wetlands added to Ramsar list
- Champai Soren take oath as Jharkhand CM
- Centre notifies Justice P S Dinesh Kumar as Chief Justice of Karnataka High Court
- Jay Shah appointed as President of Asian Cricket Council (ACC)
- Anil Kumar Lahoti appointed as TRAI Chairman
- AU Small Finance Bank appoints HR Khan as non-executive chairman
- Vice Admiral Lochan Singh Pathania assumes charge as Chief Hydrographer
- Andhra Pradesh tops in creating ABHA ids for its population
- Visakhapatnam Port Authority bags 3rd Rank in respect of Swachchta Pakhwada Awards
- Khelo India Youth Games 2024
- FIH Hockey5s Men’s World Cup 2024
- Indian Coast Guard Day 2024
- World Interfaith Harmony Week
- World Wetlands Day 2024
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