Daily Current Affairs – February 05 & 06, 2024
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Daily Current Affairs - Banking - February 05 & 06, 2024
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National News
Union Minister of Health and Family Welfare inaugurates the new headquarters of the National Dental Commission
- The Union Minister of Health and Family Welfare Mansukh Mandaviya inaugurated the new headquarters of the National Dental Commission (NDC) New Delhi and laid the foundation stones for three Nursing Colleges in Andhra Pradesh and one in Jammu and Kashmir virtually.
- Additionally, Dr. Mandaviya presided over the MoU between the Dental Council of India and Quality Council of India for the assessment and rating of undergraduate dental colleges and launched the National Dental Register under the National Health Digital Mission.
- He was joined by Manik Saha, Chief Minister of Tripura and Manoj Sinha, Lieutenant Governor of Jammu and Kashmir joined virtually.
- Ministry of Health and Family Welfare – Mansukh Laxmanbhai Mandaviya,Union Minister (Rajya Sabha MP,Gujarat) – Dr. Bharati Pravin Pawar,Minister of State (Dindori,Maharashtra), Satya Pal Singh Baghel ,Minister of State (Agra,UP)
Union Minister G Kishan Reddy lays foundation stone for country's first digital National Museum of Epigraphy in Hyderabad
- Union Culture Minister, G Kishan Reddy laid the foundation stone for the country’s first digital National Museum of Epigraphy at the Salar Jung Museum in Hyderabad.
- The Archaeological Survey of India is establishing the museum and about one lakh ancient inscriptions of various languages and periods of time will be placed in it.
- Archaeological Survey of India (ASI) – 1861 (HQ) – New Delhi (HQ) – Yadubir Singh Rawat (Director General)
FSSAI approves amendments to streamline food safety and standards regulations
- The Food Safety and Standards Authority of India (FSSAI) in its 43rd meeting has approved various amendments to streamline food safety and standards regulations.
- The meeting was held under the chairmanship of Union Health Secretary Apurva Chandra in New Delhi.
- Various amendments across different Food Safety and Standards Regulations were approved in the meeting to do away with Bureau of Indian Standards (BIS) or AGMARK certification for food products.
- The Food Authority also approved a first-of-its-kind and comprehensive manuals of methods of analysis for ensuring regulatory compliance of the food products.
- The amendments across different Food Safety and Standards Regulations were approved in the meeting for draft notification to invite stakeholder comments before finalisation.
- These regulations included the revision of standards of Milk Fat Products, as part of which the fatty acid requirements for Ghee will also be applicable for other milk fat products.
- The Food Authority is also going to set standards for ‘Haleem’ as part of standards for meat products.
- Haleem is a dish made of meat, pulses, grains and other ingredients, which currently don’t have any set standards.
- Food Safety and Standards Authority of India (FSSAI) – 05/09/2008 (Founded) – New Delhi (HQ) – Shri Rajesh Bhushan (Chairman)
International News
India participates in the First G20 Education Working Group Meeting under Brazilian Presidency
- The Indian delegates participated in the first day of the Education Working Group (EdWG) under the Brazilian G20 Presidency.
- Brazil’s focus for the EdWG includes three main priorities: valuing and building the capacity of education professionals, connecting managers of digital resource platforms for the sharing of educational material on Sustainable Development, and the G20 Award for School-Community Engagement.
- The ongoing discussions in the EdWG aim to collectively address the first priority of building capacity for education professionals.
- The agenda will center around the second and third priorities: digital resource platforms and the prestigious G20 Award for School-Community Engagement.
- Brazil – Brasília (Capital) – Real (Currency) – Lula da Silva (President) – Portuguese (Language)
State News
Arunachal Pradesh State Cabinet approves creation of two more districts in state
- Arunachal Pradesh State Cabinet has approved the creation of two more districts in the state.
- The two districts are ‘Keyi Panyor’ and ‘Bichom’.
- With this, the state will now have 27 districts.
- Keyi Panyor district will be created by bifurcating Lower Subansiri district with Yachuli as the headquarters and Bichom district will be carved out of East Kameng and West Kameng districts with Napangphung as its headquarters.
Education Minister Dharmendra Pradhan to inaugurate ULLAS Mela at New Delhi's National Bal Bhavan
- Union Minister of Education Dharmendra Pradhan inaugurated the two-day ULLAS Mela at New Delhi’s National Bal Bhavan.
- The Department of School Education and Literacy, Ministry of Education is organising ULLAS Mela to showcase various National and State level activities under ULLAS-Nav Bharat Saksharta Karyakram.
- Seven hundred participants from various States and UTs along with more than 100 dignitaries from the Ministry of Education, and various organizations participated in the event.
- Government of India is implementing a centrally sponsored innovative scheme called Nav Bharat Saksharta Karyakram or New India Literacy Program for the period of FYs 2022-2027 to achieve the target of 100% literacy by 2030.
- The scheme is popularly known as ULLAS: Understanding of Lifelong Learning for All in Society, upholding the motto “Jan-Jan Sakshar”.
- The scheme is targeted at all non-literates of age 15 years and above.
- The scheme, in line with NEP 2020, targets adults aged 15 and above, who could not go to school or attain formal education.
Banking and Finance
Government gives ₹9,000 crores to Exim Bank as loans extended to foreign countries turn NPAs
- Ministry of External Affairs has provided ₹9,013.72 crores to Exim Bank of India.
- The Exim Bank had to invoke the guarantees after decade-plus old loans extended to some African countries turned into non-performing assets.
- The MEA has provided a further ₹4,383.40 crore in 2024-25 towards payment to Exim Bank towards guarantees that may be invoked against doubtful debts, indicating more such loans to countries might get classified as NPAs in the coming years.
- Once guarantees are invoked by a financial institution or a public sector undertaking, the funds are paid out of the Guarantee Redemption Fund established in the Public Account of India since 1999-2000.
- Export-Import Bank of India (EXIM Bank) – 1982 (Founded) – Mumbai (HQ) – Harsha Bangari (MD)
Business and Economy
OECD marginally raises India's GDP growth forecast to 6.2% for FY25
- The Organization for Economic Co-operation and Development (OECD), in its latest interim economic outlook India’s growth outlook for 2024-25 (FY25) to 2 per cent from the 6.1 per cent estimated earlier in its November outlook.
- For 2025-26, OECD has kept its growth forecast for India unchanged at 5 per cent.
NCDEX, IRMA launch centre in Gujarat to promote commodity derivatives market
- National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management Anand (IRMA) launched a centre of excellence in Anand, Gujarat, for growth of commodity derivatives market.
- Named as Tribhuvandas Patel Centre of Excellence for Commodity Markets, it will help develop the commodities derivatives ecosystem, providing support in the areas of research, policy formation, policy advocacy, capacity building, thought leadership, product development, and leveraging synergies within the industrial and financial ecosystem.
- The project seeks to redefine policymaker’s perspectives on commodity derivatives markets, fostering a deeper understanding of price discovery for both banned and actively traded commodities.
Unnati Agri to offer financing solutions to IFFCO’s channel partners
- Unnati Agri, an agriculture supply chain and financial services start-up has announced a tie-up with IFFCO to provide financing solutions to channel partners of the fertilizer major.
- Unnati in collaboration with its NBFC partners including its subsidiary Ora Finance will offer channel financing to over 76,000 channel partners across India associated with
- The tie-up with IFFCO will empower its channel partners to unlock their full potential and contribute to the growth of the agriculture sector in India.
- The credit facility offered through this collaboration is completely digital and designed to provide easy access to short-term credit for the customers of IFFCO.
- Indian Farmers Fertiliser Cooperative Limited (IFFCO) – 03/11/1967 (Founded) – New Delhi (HQ) – Dr U S Awasthi (MD & CEO)
Agreements and MoUs signed
Atal Incubation Centre signs pact with ITI for drone technology collaboration
- The Atal Incubation Centre (AIC) and the ITI for Men, Mettupalayam, have entered into an understanding to work closely in the field of drone technology.
- As per the Memorandum of Understanding (MoU) signed between the authorities recently, the AIC would support ITI with relevant technology for training students under drone technician trade programme.
- The institute has also introduced new courses for electrician, mechanic electric vehicle and drone technician trade.
Science and Technology
KUFOS partners with ISRO for NISAR phase II research programme
- The Kerala University of Fisheries and Ocean Studies (KUFOS) has partnered with ISRO for NISAR Phase II research programme.
- NASA and ISRO are collaboratively developing a space-borne synthetic aperture radar (NISAR), scheduled for launch in
- NISAR aims to revolutionise earth resource observation by providing high-resolution data for extensive areas.
- This project holds significant potential for the systematic monitoring of agriculture, forestry, wetlands, and soil moisture estimation.
- The first phase involved the validation of ground truth data in the forest biomass of Shimoga, Hoshangabad (MP), and Nilambur regions.
- Following the successful completion of the initial phase of the ISRO-NISAR program, KUFOS stands as one of the key agencies in South India selected to lead the implementation of the second phase.
- Indian Space Research Organisation (ISRO) – 15/08/1969 (Founded) – Bangalore, India (HQ) – Sreedhara Somanath (Chairman)
Russian Astronaut Oleg Kononenko Sets World Record for Most Time Spent In Space
- Russian cosmonaut Oleg Kononenko set a world record for the most time spent in space.
- He spent over 878 days and 12 hours outside the Earth’s atmosphere, totalling nearly two and a half years.
- The 59-year-old surpassed the milestone of his compatriot Gennady Padalka, who was in space for a total of 878 days, 11 hours, 29 minutes and 48 seconds across five space journeys before retiring in
- He will complete 1000 days in space on June 5, 2024, making him the first person to achieve this feat.
- Further, he will have spent 1,110 days in space when his current expedition trip, which is planned to end on September 23, is completed.
- Russia – Moscow (Capital) – Russian Ruble (Currency) – Vladimir Putin (President) – Mikhail Mishustin (Prime Minister) – Russian (Language) – Asia
Woman Robot Astronaut Vyommitra to Simulate Human Functions In Space
- India’s woman robot astronaut Vyommitra will fly into space ahead of the Indian Space Research Organisation (ISRO) ambitious Gaganyaan mission, the country’s first manned space flight carrying Indian astronauts.
- Vyommitra is a name derived from two Sanskrit words – vyoma, meaning space, and mitra, meaning friend.
- The uncrewed Vyommitra Mission is scheduled for the third quarter of this year, while the manned mission Gaganyaan is scheduled to be launched in 2025.
Acquisitions and Mergers
RBI approves HDFC Bank Group's proposal to acquire 9.5% in IndusInd Bank
- Reserve Bank of India (RBI) has approved the application of HDFC Bank Group to acquire an “aggregate holding” of up to 5 per cent of the paid-up share capital or voting rights in IndusInd Bank Limited.
- IndusInd Bank Limited – April 1994 (Founded) – Mumbai (HQ) – Sumant Kathpalia (MD & CEO) – “We Make You Feel Richer” (Tagline)
Appointments
Yemen appoints foreign minister Ahmed Awad Bin Mubarak as prime minister
- Yemen Presidential Leadership Council appointed its foreign minister Ahmed Awad bin Mubarak as the country’s new prime minister.
- Outging Prime Minister Maeen Abdulmalik Saeed will take on the role of an advisor to the Chairman of the Presidential Leadership Council.
- Yemen – Sanaa (Capital) – Yemeni rial (Currency) – Ahmed Awad bin Mubarak (Prime Minister)
Ranveer Singh becomes the brand ambassador and investor of boat
- Leading audio wearable brand boAt has roped in actor Ranveer Singh as the brand ambassador, and he has also invested an undisclosed amount in the company, becoming a key stakeholder in the company
Awards and Recognitions
REC wins Best Green Bond - Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024
- REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the prestigious Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.
- REC has received the award for issuance of $750 million Green Bonds in April 2023 which was also the first USD Green Bond issuance from India post India’s assumption of G20 Presidency and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer.
- The bond issue was priced at a minimum new issue premium of 5 bps, which was tighter than the most recent high-rated issuances from the region.
- The issue was well received by the investors and demonstrates REC’s significant contribution to financing projects aimed at mitigating climate change and promoting environmental sustainability.
- The award underscores REC Limited’s unwavering commitment to sophisticated capital market instruments and customized financing solutions in advancing sustainable finance and fostering environmental stewardship.
- This recognition represents a milestone in REC Limited’s dedication to support initiatives that drive positive environmental impact and foster sustainable development.
- REC Limited (Rural Electrification Corporation Limited) – 25/07/1969 (Founded) – New Delhi (HQ) – Vivek Kumar Dewagan (CMD)
PT Usha gets SJFI Lifetime Achievement award
- PT Usha, who is also the Indian Olympic Association (IOA) president, was conferred with the Sports Journalists Federation of India (SJFI) Lifetime Achievement award by Delhi Sports Journalists Association (DSJA).
- She was presented with a medallion, a memento and a citation.
- She is the fifth Indian sports legend to get the award after Vijay Amritraj, Prakash Padukone, Sunil Gavaskar and Milkha Singh.
Sports News
2026 FIFA World Cup final to be played in New Jersey
- The 2026 World Cup final will be played at MetLife Stadium in New Jersey, U.S.
- 78 of 104 matches of the first World Cup held in three nations will be played in the U.S., with 13 games each in Mexico and Canada.
- Santa Clara is the only U.S. site that will not host a game after the new round of 32.
- FIFA expanded the World Cup from 32 to 48 nations, increased matches from 64 and announced the 16 sites in 2022.
- Fédération internationale de football association FIFA (International Association Football Federation) – 21/05/1904 (Founded) – Zurich, Switzerland (HQ) – Gianni Infantino (President)
Important Days
World Cancer Day 2024
- World Cancer Day is annually celebrated on February 4.
- The day is celebrated to raise awareness about cancer and to strengthen actions for improving cancer care, detection, prevention, and treatment.
- The Day was first observed in
- Theme – ‘Close the care gap: Everyone deserves access to cancer care.’
Safer Internet Day 2024
- Safer Internet Day is annually celebrated on February 6.
- The day is celebrated to raise awareness about internet safety and encourage people to take steps to protect themselves from online threats.
- The day was first initiated by EU Safe Borders in
- Theme – “Inspiring Change. Making a difference, managing influence and navigating change online.”
Defence
US approves sale of 31 armed drones to India
- The US approved the sale of 31 MQ-9B armed drones to India at an estimated cost of $3.99 billion.
- Under the deal, India will get 31 High Altitude Long Endurance (HALE) UAVs, of which the Navy will get 15 SeaGuardian drones, while the Army and the Indian Air Force will get eight each of the land version – SkyGuardian.
- United States of America – Washington, D.C. (Capital) – US Dollar (Currency) – Joe Biden (President) – English (Language)
Daily Current Affairs - February 05 & 06, 2024 - Consolidated
- Union Minister of Health and Family Welfare inaugurates the new headquarters of the National Dental Commission
- Union Minister G Kishan Reddy lays foundation stone for country’s first digital National Museum of Epigraphy in Hyderabad
- FSSAI approves amendments to streamline food safety and standards regulations
- India participates in the First G20 Education Working Group Meeting under Brazilian Presidency
- Arunachal Pradesh State Cabinet approves creation of two more districts in state
- Education Minister Dharmendra Pradhan to inaugurate ULLAS Mela at New Delhi’s National Bal Bhavan
- Government gives ₹9,000 crores to Exim Bank as loans extended to foreign countries turn NPAs
- OECD marginally raises India’s GDP growth forecast to 6.2% for FY25
- NCDEX, IRMA launch centre in Gujarat to promote commodity derivatives market
- Unnati Agri to offer financing solutions to IFFCO’s channel partners
- Atal Incubation Centre signs pact with ITI for drone technology collaboration
- KUFOS partners with ISRO for NISAR phase II research programme
- Russian Astronaut Oleg Kononenko Sets World Record for Most Time Spent In Space
- Woman Robot Astronaut Vyommitra to Simulate Human Functions In Space
- RBI approves HDFC Bank Group’s proposal to acquire 9.5% in IndusInd Bank
- Yemen appoints foreign minister Ahmed Awad Bin Mubarak as prime minister
- Ranveer Singh becomes the brand ambassador and investor of boat
- REC wins Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024
- PT Usha gets SJFI Lifetime Achievement award
- 2026 FIFA World Cup final to be played in New Jersey
- World Cancer Day 2024
- Safer Internet Day 2024
- US approves sale of 31 armed drones to India
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